Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IBM	INTERNATIONAL BUSINESS MACHS	1,566,055	$230M	5.7%	$146.76	—	COM	459200101
WFC	WELLS FARGO & CO NEW	6,107,254	$189M	4.7%	$30.99	—	COM	949746101
BP	BP PLC SPONSORED	4,020,266	$178M	4.4%	$44.17	—	ADR	055622104
MSFT	MICROSOFT CORP	6,353,400	$177M	4.4%	$27.92	—	COM	594918104
PFE	PFIZER INC	8,918,389	$156M	3.9%	$17.51	—	COM	717081103
MRK	MERCK & CO INC NEW	4,239,100	$153M	3.8%	$36.04	—	COM	58933Y105
XOM	EXXON MOBIL CORP	1,781,200	$130M	3.3%	$73.12	—	COM	30231G102
GLW	CORNING INC	6,413,400	$124M	3.1%	$19.32	—	COM	219350105
OMC	OMNICOM GROUP INC	2,702,000	$124M	3.1%	$45.80	—	COM	681919106
INTC	INTEL CORP	5,875,518	$124M	3.1%	$21.03	—	COM	458140100
JNJ	JOHNSON & JOHNSON	1,869,500	$116M	2.9%	$61.85	—	COM	478160104
WMT	WAL MART STORES INC	1,979,700	$107M	2.7%	$53.93	—	COM	931142103
ABT	ABBOTT LABS	2,224,400	$107M	2.7%	$47.91	—	COM	002824100
—	ROYAL DUTCH SHELL PLC	1,528,691	$102M	2.5%	$66.67	—	SPO	780259107
—	CHESAPEAKE ENERGY CORP	3,635,400	$94.19M	2.4%	$25.91	—	COM	165167107
—	HEWLETT PACKARD CO	2,199,200	$92.59M	2.3%	$42.10	—	COM	428236103
JPM	JPMORGAN CHASE & CO	2,170,900	$92.09M	2.3%	$42.42	—	COM	46625H100
GD	GENERAL DYNAMICS CORP	1,223,900	$86.85M	2.2%	$70.96	—	COM	369550108
MET	METLIFE INC	1,895,300	$84.23M	2.1%	$44.44	—	COM	59156R108
—	GENERAL ELECTRIC CO	4,536,200	$82.97M	2.1%	$18.29	—	COM	369604103
—	WELLPOINT INC	1,420,200	$80.75M	2.0%	$56.86	—	COM	94973V107
CVX	CHEVRON CORP NEW	884,800	$80.74M	2.0%	$91.25	—	COM	166764100
GPC	GENUINE PARTS CO	1,555,748	$79.87M	2.0%	$51.34	—	COM	372460105
—	RAYTHEON CO	1,662,648	$77.05M	1.9%	$46.34	—	COM	755111507
—	CHUBB CORP	1,286,600	$76.73M	1.9%	$59.64	—	COM	171232101
—	NOBLE CORPORATION BAAR	2,129,300	$76.17M	1.9%	$35.77	—	NAM	H5833N103
—	APACHE CORP	633,228	$75.5M	1.9%	$119.23	—	COM	037411105
TRV	TRAVELERS COMPANIES INC	1,347,900	$75.09M	1.9%	$55.71	—	COM	89417E109
—	KRAFT FOODS INC	2,317,800	$73.03M	1.8%	$31.51	—	CL	50075N104
LNC	LINCOLN NATL CORP IND	2,409,761	$67.02M	1.7%	$27.81	—	COM	534187109
CSCO	CISCO SYS INC	3,304,100	$66.84M	1.7%	$20.23	—	COM	17275R102
WDC	WESTERN DIGITAL CORP	1,836,400	$62.25M	1.6%	$33.90	—	COM	958102105
—	MEDTRONIC INC	1,594,800	$59.15M	1.5%	$37.09	—	COM	585055106
EIX	EDISON INTL	1,514,000	$58.44M	1.5%	$38.60	—	COM	281020107
GS	GOLDMAN SACHS GROUP INC	338,500	$56.92M	1.4%	$168.16	—	COM	38141G104
RIG	TRANSOCEAN LTD	795,466	$55.29M	1.4%	$69.51	—	REG	H8817H100
—	PARTNERRE LTD	648,400	$52.1M	1.3%	$80.35	—	COM	G6852T105
LMT	LOCKHEED MARTIN CORP	733,900	$51.31M	1.3%	$69.91	—	COM	539830109
SRE	SEMPRA ENERGY	973,400	$51.08M	1.3%	$52.48	—	COM	816851109
UNH	UNITEDHEALTH GROUP INC	1,261,700	$45.56M	1.1%	$36.11	—	COM	91324P102
UNM	UNUM GROUP	1,739,300	$42.13M	1.1%	$24.22	—	COM	91529Y106
NVR	NVR INC	41,258	$28.51M	0.7%	$691.02	—	COM	62944T105
—	DELL INC	1,753,500	$23.76M	0.6%	$13.55	—	COM	24702R101
—	WELLS FARGO & CO NEW PERP	15,190	$15.2M	0.4%	$1000.53	—	PFD	949746804
—	VODAFONE GROUP PLC NEW SPONS	405,967	$10.73M	0.3%	$26.43	—	NEW	92857W209
SPY	SPDR S&P 500 ETF TR	38,500	$4.843M	0.1%	$125.79	—	TR	78462F103
SNY	SANOFI AVENTIS	101,400	$3.268M	0.1%	$32.23	—	SPO	80105N105
—	TOTAL S A	60,800	$3.252M	0.1%	$53.49	—	SPO	89151E109
—	ESAPEAKE ENERGY CORP	29,008	$2.551M	0.1%	$87.94	—	PFD	165167842
VWO	VANGUARD INTL EQUITY INDEX F	8,000	$385K	0.0%	$48.13	—	EMR	922042858
VEU	VANGUARD INTL EQUITY INDEX F	5,000	$239K	0.0%	$47.80	—	ALL	922042775
NVS	NOVARTIS A G	3,000	$177K	0.0%	$59.00	—	SPO	66987V109
SAN	BANCO SANTANDER SA	14,100	$150K	0.0%	$10.64	—	ADR	05964H105
BCS	BARCLAYS PLC	8,600	$142K	0.0%	$16.51	—	ADR	06738E204
HMC	HONDA MOTOR LTD	3,300	$130K	0.0%	$39.39	—	AME	438128308
—	CHINA PETE & CHEM CORP	1,300	$124K	0.0%	$95.38	—	SPO	16941R108
—	GLAXOSMITHKLINE PLC	3,100	$122K	0.0%	$39.35	—	SPO	37733W105