Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	ProLogis Inc	472,200	$17.45M	5.7%	$37.72	—	COM	74340w103
—	Google Inc. A	15,384	$17.24M	5.6%	$879.67	—	COM	38259p508
PG	Procter & Gamble	188,741	$15.37M	5.0%	$55.00	+5.5%	COM	742718109
—	Merck & Co.	293,666	$14.7M	4.8%	$46.80	—	COM	58933y105
WFC	Wells Fargo & Co.	305,905	$13.89M	4.5%	$27.36	+12.4%	COM	949746101
BK	Bank of NY Mellon	352,155	$12.3M	4.0%	$21.54	+12.8%	COM	064058100
—	General Electric	427,909	$11.99M	3.9%	$23.27	—	COM	369604103
EXPD	Expeditors Int'l	259,501	$11.48M	3.8%	$32.21	+15.6%	COM	302130109
SCHW	Charles Schwab	406,925	$10.58M	3.5%	$16.37	+26.2%	COM	808513105
CVX	Chevron Corp	81,286	$10.15M	3.3%	$71.30	+1.7%	COM	166764100
MLM	Martin Marietta Materials	93,200	$9.314M	3.0%	$92.31	-3.8%	COM	573284106
—	Calpine Corp	473,000	$9.228M	3.0%	$20.69	—	COM	131347304
—	Noble Corp.	225,133	$8.436M	2.8%	$37.47	—	COM	g65431101
—	Alcoa	711,500	$7.563M	2.5%	$7.88	—	COM	013817101
DKS	Dick's Sporting Goods	127,600	$7.414M	2.4%	$37.12	+9.2%	COM	253393102
INTC	Intel	257,888	$6.693M	2.2%	$17.18	+4.4%	COM	458140100
—	Cisco Systems	296,308	$6.646M	2.2%	$24.34	—	COM	17275r102
RHI	Robert Half Intl.	148,725	$6.245M	2.0%	$34.80	+13.2%	COM	770323103
MSFT	Microsoft	150,306	$5.623M	1.8%	$26.70	+12.4%	COM	594918104
—	Teradata Corp	121,000	$5.504M	1.8%	$45.85	—	COM	88076w103
BMY	Bristol-Myers Squibb	101,980	$5.42M	1.8%	$28.77	+18.7%	COM	110122108
—	Apache Corp	60,050	$5.161M	1.7%	$84.61	—	COM	037411105
—	Progressive Waste Solutions	195,500	$4.839M	1.6%	$22.37	—	COM	74339g101
JNJ	Johnson & Johnson	51,712	$4.736M	1.6%	$59.66	+10.2%	COM	478160104
SYY	Sysco Corp	122,500	$4.422M	1.4%	$24.40	-0.1%	COM	871829107
—	Exxon Mobil	41,436	$4.193M	1.4%	$90.34	—	COM	30231g102
VEU	Vanguard FTSE All-World ex-US	81,825	$4.151M	1.4%	$45.77	—	COM	922042775
WMT	Wal-Mart Stores	51,361	$4.042M	1.3%	$19.98	+1.8%	COM	931142103
AMGN	Amgen Inc.	32,050	$3.656M	1.2%	$73.34	+10.6%	COM	031162100
PFE	Pfizer	96,813	$2.965M	1.0%	$16.46	+7.1%	COM	717081103
AXP	American Express	29,295	$2.658M	0.9%	$59.62	+16.2%	COM	025816109
IJR	iShares S&P Small Cap 600	23,509	$2.566M	0.8%	$90.74	—	COM	464287804
IJH	iShares S&P Mid Cap 400	19,121	$2.559M	0.8%	$116.07	—	COM	464287507
LOW	Lowe's Cos.	43,200	$2.141M	0.7%	$32.16	+21.7%	COM	548661107
DIS	Walt Disney	24,300	$1.857M	0.6%	$56.18	+9.8%	COM	254687106
KO	Coca Cola	43,133	$1.782M	0.6%	$27.84	-3.2%	COM	191216100
—	Du Pont	26,692	$1.734M	0.6%	$52.51	—	COM	263534109
—	United Technologies	15,067	$1.715M	0.6%	$92.93	—	COM	913017109
DHR	Danaher Corp	22,033	$1.701M	0.6%	$25.01	+18.8%	COM	235851102
USB	U.S. Bancorp	41,558	$1.679M	0.5%	$22.44	+13.1%	COM	902973304
—	Dominion Resources	25,684	$1.661M	0.5%	$56.83	—	COM	25746u109
—	J.P. Morgan Chase	27,999	$1.637M	0.5%	$52.86	—	COM	46625h100
ALL	Allstate Corp.	29,198	$1.592M	0.5%	$37.12	+10.7%	COM	020002101
—	Verizon Comm.	30,136	$1.481M	0.5%	$50.34	—	COM	92343v104
MCD	McDonald's	15,213	$1.476M	0.5%	$71.80	-2.5%	COM	580135101
PEP	Pepsico	15,941	$1.322M	0.4%	$56.02	+3.1%	COM	713448108
XLY	Cons. Disc. Sector SPDR	19,365	$1.294M	0.4%	$56.96	—	COM	81369Y407
XLK	Technology Sector SPDR	35,585	$1.272M	0.4%	$32.21	—	COM	81369Y803
—	Hewlett Packard	42,100	$1.178M	0.4%	$24.80	—	COM	428236103
—	Oracle	27,041	$1.035M	0.3%	$30.93	—	COM	68389x105
CAT	Caterpillar	11,134	$1.011M	0.3%	$61.56	+1.8%	COM	149123101
XLI	Industrial Sector SPDR	19,000	$993K	0.3%	$52.26	—	COM	81369Y704
—	Covidien Ltd	14,293	$973K	0.3%	$62.83	—	COM	G2554F113
XLP	Consumer Staples Sector SPDR	21,950	$943K	0.3%	$39.86	—	COM	81369Y308
HAL	Halliburton	17,825	$905K	0.3%	$33.62	+22.8%	COM	406216101
—	National Oilwell Varco	11,117	$884K	0.3%	$69.74	—	COM	637071101
EFA	iShares MSCI EAFE Fund	11,790	$791K	0.3%	$57.94	—	COM	464287465
IBM	IBM	3,859	$724K	0.2%	$118.67	-10.3%	COM	459200101
VTI	Vanguard Ttl Stk ETF	6,980	$670K	0.2%	$88.43	—	COM	922908769
TEVA	Teva Pharm Inds ADR	15,859	$636K	0.2%	$39.21	—	COM	881624209
—	Xerox	51,840	$631K	0.2%	$9.07	—	COM	984121103
BRK/B	Berkshire Hathaway B	5,297	$628K	0.2%	$110.02	+5.1%	COM	084670702
VFC	V.F. Corp.	9,920	$618K	0.2%	$49.80	+4.6%	COM	918204108
XLB	Materials Sector SPDR	12,715	$588K	0.2%	$38.48	—	COM	81369Y100
—	AT&T Inc.	16,630	$585K	0.2%	$35.37	—	COM	00206r102
GIS	General Mills Inc.	10,955	$547K	0.2%	$32.11	+2.4%	COM	370334104
XLU	Utilities Sector SPDR	14,350	$545K	0.2%	$37.66	—	COM	81369Y886
CHKP	Check Point Software	8,025	$518K	0.2%	$49.24	+22.1%	COM	M22465104
ADP	Automatic Data Proc.	6,300	$509K	0.2%	$45.09	+14.1%	COM	053015103
XLF	Financial Sector SPDR	22,530	$493K	0.2%	$19.77	—	COM	81369Y605
—	AbbVie	9,166	$484K	0.2%	$41.31	—	COM	00287y109
AAPL	Apple Inc.	840	$471K	0.2%	$13.28	+23.2%	COM	037833100
XLE	Energy Select Sector SPDR	4,785	$424K	0.1%	$79.26	—	COM	81369Y506
VNQ	Vanguard REIT ETF	6,452	$417K	0.1%	$68.76	—	COM	922908553
—	Vanguard Info Tech ETF	4,600	$412K	0.1%	$73.91	—	COM	92204a702
—	PG&E Corporation	9,963	$401K	0.1%	$45.77	—	COM	69331c108
—	3M Corp	2,600	$365K	0.1%	$109.29	—	COM	88579y101
ABT	Abbott Laboratories	9,166	$351K	0.1%	$28.85	+1.3%	COM	002824100
UNP	Union Pacific	2,000	$336K	0.1%	$57.21	+5.8%	COM	907818108
—	T. Rowe Price Group	3,600	$302K	0.1%	$73.33	—	COM	74144t108
—	Chubb	2,748	$266K	0.1%	$84.65	—	COM	171232101
—	Vodafone Group	6,292	$247K	0.1%	$35.24	—	COM	92857w209
—	iPath DJ-UBS Commodity Index	6,600	$243K	0.1%	$36.52	—	COM	06738c778
BA	Boeing Co.	1,724	$235K	0.1%	$80.37	+38.0%	COM	097023105
BXP	Boston Properties	2,000	$201K	0.1%	$64.00	-3.4%	COM	101121101
BAC	BankAmerica	12,747	$198K	0.1%	$10.03	+16.5%	COM	060505104
RWT	Redwood Trust Inc.	10,000	$194K	0.1%	$19.70	—	COM	758075402