Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IBM	INTERNATIONAL BUSINESS MACHS	1,400,605	$240M	6.0%	$147.16	—	COM	459200101
PFE	PFIZER INC	8,760,289	$180M	4.5%	$17.51	—	COM	717081103
BP	BP PLC SPONSORED	4,026,466	$178M	4.5%	$44.17	—	SPO	055622104
MSFT	MICROSOFT CORP	6,457,900	$168M	4.2%	$27.89	—	COM	594918104
MRK	MERCK & CO INC	4,333,000	$153M	3.8%	$36.02	—	NEW	58933Y105
XOM	EXXON MOBIL CORP	1,785,700	$145M	3.6%	$73.12	—	COM	30231G102
INTC	INTEL CORP	6,526,718	$145M	3.6%	$21.12	—	COM	458140100
—	APACHE CORP	1,119,828	$138M	3.5%	$124.17	—	COM	037411105
OMC	OMNICOM GROUP INC	2,656,500	$128M	3.2%	$45.80	—	COM	681919106
JNJ	JOHNSON & JOHNSON	1,889,400	$126M	3.2%	$61.90	—	COM	478160104
GLW	CORNING INC	6,564,000	$119M	3.0%	$19.29	—	COM	219350105
—	WELLPOINT INC	1,508,350	$119M	3.0%	$57.86	—	COM	94973V107
ABT	ABBOTT LABS	2,249,500	$118M	3.0%	$47.96	—	COM	002824100
GS	GOLDMAN SACHS GROUP INC	835,400	$111M	2.8%	$162.02	—	COM	38141G104
CVX	CHEVRON CORP	1,081,000	$111M	2.8%	$94.01	—	NEW	166764100
UNH	UNITEDHEALTH GROUP INC	2,145,600	$111M	2.8%	$39.85	—	COM	91324P102
—	ROYAL DUTCH SHELL PLC	1,530,191	$110M	2.8%	$66.67	—	SPO	780259107
WMT	WAL MART STORES INC	1,979,700	$105M	2.6%	$53.93	—	COM	931142103
MET	METLIFE INC	2,345,200	$103M	2.6%	$44.48	—	COM	59156R108
GD	GENERAL DYNAMICS CORP	1,247,900	$92.99M	2.3%	$71.03	—	COM	369550108
JPM	JPMORGAN CHASE & CO	2,184,900	$89.45M	2.2%	$42.42	—	COM	46625H100
—	HEWLETT PACKARD CO	2,328,500	$84.76M	2.1%	$41.95	—	COM	428236103
GPC	GENUINE PARTS CO	1,555,748	$84.63M	2.1%	$51.34	—	COM	372460105
—	RAYTHEON CO	1,662,648	$82.88M	2.1%	$46.34	—	COM	755111507
OXY	OCCIDENTAL PETE CORP DEL	701,200	$72.95M	1.8%	$104.04	—	COM	674599105
—	GENERAL ELECTRIC CO	3,790,300	$71.48M	1.8%	$18.30	—	COM	369604103
—	KRAFT FOODS INC	1,986,400	$69.98M	1.8%	$31.51	—	CL	50075N104
LNC	LINCOLN NATL CORP IND	2,409,761	$68.65M	1.7%	$27.81	—	COM	534187109
TRV	TRAVELERS COMPANIES INC	1,131,300	$66.05M	1.7%	$55.71	—	COM	89417E109
—	MEDTRONIC INC	1,594,800	$61.45M	1.5%	$37.09	—	COM	585055106
LMT	LOCKHEED MARTIN CORP	758,400	$61.41M	1.5%	$70.27	—	COM	539830109
EIX	EDISON INTL	1,563,400	$60.58M	1.5%	$38.60	—	COM	281020107
—	VODAFONE GROUP PLC NEW	1,954,700	$52.23M	1.3%	$28.27	—	SPO	92857W209
SRE	SEMPRA ENERGY	973,400	$51.47M	1.3%	$52.48	—	COM	816851109
RIG	TRANSOCEAN LTD	779,466	$50.32M	1.3%	$69.51	—	REG	H8817H100
—	PARTNERRE LTD	664,400	$45.74M	1.1%	$80.07	—	COM	G6852T105
UNM	UNUM GROUP	1,739,300	$44.32M	1.1%	$24.22	—	COM	91529Y106
WDC	WESTERN DIGITAL CORP	1,175,600	$42.77M	1.1%	$33.90	—	COM	958102105
—	NOBLE CORPORATION BAAR	987,000	$38.9M	1.0%	$35.77	—	NAM	H5833N103
VLO	VALERO ENERGY CORP	1,387,700	$35.48M	0.9%	$29.65	—	NEW	91913Y100
—	DELL INC	1,753,500	$29.23M	0.7%	$13.55	—	COM	24702R101
SNY	SANOFI	100,800	$4.049M	0.1%	$32.23	—	SPO	80105N105
—	TOTAL S A SPONSORED	67,400	$3.898M	0.1%	$54.22	—	SPO	89151E109
BCS	BARCLAYS PLC	218,600	$3.592M	0.1%	$18.07	—	ADR	06738E204
HMC	HONDA MOTOR LTD	61,400	$2.371M	0.1%	$37.63	—	AME	438128308
SPY	SPDR S&P 500 ETF TR	13,900	$1.834M	0.0%	$125.79	—	TR	78462F103
—	WELLS FARGO & CO NEW	1,487	$1.576M	0.0%	$1000.53	—	PER	949746804
CSCO	CISCO SYS INC	87,700	$1.369M	0.0%	$20.23	—	COM	17275R102
—	CHESAPEAKE ENERGY CORP	12,044	$1.105M	0.0%	$87.94	—	PFD	165167842
NVS	NOVARTIS A G	4,400	$269K	0.0%	$57.51	—	SPO	66987V109
SAN	BANCO SANTANDER SA	15,700	$181K	0.0%	$10.73	—	ADR	05964H105
—	GLAXOSMITHKLINE PLC	2,800	$120K	0.0%	$39.35	—	SPO	37733W105
—	CHINA PETE & CHEM CORP	1,100	$112K	0.0%	$95.38	—	SPO	16941R108