Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	PACIFIC DRILLING SA	3,571,625	$38.86M	21.2%	$9.77	—	COM	L7257P106
—	CIA VALE DO RIO DOCE-ADR	2,176,700	$27.1M	14.8%	$12.45	—	ADR	91912E204
EWY	ISHARES MSCI SOUTH KOREA CAPPE	350,000	$21.52M	11.7%	$64.67	—	COM	464286772
JPM	JPMORGAN CHASE & CO	188,950	$11.47M	6.2%	$39.63	+6.2%	COM	46625H100
C	CITIGROUP INC	227,854	$10.85M	5.9%	$37.61	-1.4%	COM	172967424
XLK	AMEX TECH SELECT SPDR IDX	127,630	$4.639M	2.5%	$35.74	—	COM	81369Y803
KBE	SPDR S&P BANK ETF	135,680	$4.619M	2.5%	$33.17	—	COM	78464A797
FEZ	SPDR EURO STOXX 50 ETF	107,360	$4.58M	2.5%	$42.20	—	COM	78463X202
DXJ	WISDOMTREE JAPAN HEDGED EQ	83,000	$3.929M	2.1%	—	—	Call	97717W851
PEP	PEPSICO INC	44,285	$3.698M	2.0%	$57.75	-1.5%	COM	713448108
ORCL	ORACLE CORP	88,653	$3.627M	2.0%	$28.86	+10.8%	COM	68389X105
MSFT	MICROSOFT CORP	80,126	$3.284M	1.8%	$30.02	+4.1%	COM	594918104
KO	COCA COLA COMPANY	82,230	$3.179M	1.7%	$26.90	-1.3%	COM	191216100
PG	PROCTER & GAMBLE	32,730	$2.638M	1.4%	$58.01	-2.6%	COM	742718109
EWP	ISHARES MSCI SPAIN INDEX FUND	58,400	$2.383M	1.3%	$38.56	—	COM	464286764
—	TWENTY-FIRST CENTURY FOX INC	70,399	$2.251M	1.2%	$35.18	—	COM	90130A101
BRK/B	BERKSHIRE HATHAWAY INC-CL B	15,400	$1.925M	1.0%	$115.63	+1.1%	COM	084670702
EWC	ISHARES MSCI CANADA	64,390	$1.903M	1.0%	$29.17	—	COM	464286509
—	COMCAST CORP SPECIAL CL A	30,942	$1.509M	0.8%	$49.87	—	COM	20030N200
CSCO	CISCO SYSTEMS INC	67,280	$1.508M	0.8%	$15.20	+0.6%	COM	17275R102
—	AON PLC	17,225	$1.452M	0.8%	$77.33	—	COM	G0408V102
SYY	SYSCO CORP	39,850	$1.44M	0.8%	$24.38	+7.1%	COM	871829107
WMT	WAL-MART STORES INC	18,265	$1.396M	0.8%	$20.35	-2.2%	COM	931142103
JNJ	JOHNSON & JOHNSON	14,035	$1.379M	0.8%	$65.75	+1.3%	COM	478160104
—	NOBLE ENERGY INC.	16,900	$1.201M	0.7%	$68.11	—	COM	655044105
ECL	ECOLAB INC	10,785	$1.165M	0.6%	$90.95	+1.1%	COM	278865100
—	BARD CR INC	7,655	$1.133M	0.6%	$133.99	—	COM	067383109
UNH	UNITED HEALTH GROUP INC	13,160	$1.079M	0.6%	$59.09	+5.1%	COM	91324P102
MS	MORGAN STANLEY	34,186	$1.066M	0.6%	$21.85	+3.9%	COM	617446448
SYK	STRYKER CORP	13,050	$1.063M	0.6%	$63.06	+9.5%	COM	863667101
—	PRAXAIR INC	7,868	$1.03M	0.6%	$130.02	—	COM	74005P104
COP	CONOCOPHILLIPS	14,455	$1.017M	0.6%	$48.40	-6.2%	COM	20825C104
—	VIACOM INC-CLASS B	11,604	$986K	0.5%	$87.30	—	COM	92553P201
—	TWENTY-FIRST CENTURY FOX - B	30,100	$937K	0.5%	$31.13	—	COM	90130A200
L	LOWES CORP	18,800	$828K	0.5%	$45.01	-6.3%	COM	540424108
MDLZ	MONDELEZ INTERNATIONAL INC	23,800	$822K	0.4%	$25.52	+3.3%	COM	609207105
USB	US BANCORP<NEW>	18,975	$813K	0.4%	$25.38	+7.7%	COM	902973304
STZ	CONSTELLATION BRANDS INC-A	8,800	$748K	0.4%	$57.22	+19.0%	COM	21036P108
CLX	CLOROX CO	8,442	$743K	0.4%	$63.81	-1.7%	COM	189054109
—	DISH NETWORK CORP - A	11,300	$703K	0.4%	$57.88	—	COM	25470M109
EBAY	EBAY INC	11,741	$649K	0.4%	$19.72	+4.8%	COM	278642103
TMO	THERMO FISHER SCIENTIFIC INC	5,400	$649K	0.4%	$95.60	+19.7%	COM	883556102
FIS	FIDELITY NATIONAL INFORMATIO	11,582	$619K	0.3%	$40.05	+8.6%	COM	31620M106
XOM	EXXON MOBIL CORP	6,004	$586K	0.3%	$55.94	+3.8%	COM	30231G102
GS	GOLDMAN SACHS GROUP INC	3,200	$524K	0.3%	$130.68	+2.3%	COM	38141G104
—	WELLPOINT INC	5,141	$512K	0.3%	$92.39	—	COM	94973V107
WRB	WR BERKLEY CORP	11,600	$483K	0.3%	$9.82	-5.7%	COM	084423102
—	ALTERA CORP	11,600	$420K	0.2%	$32.50	—	COM	021441100
—	AVON PRODUCTS INC	28,540	$418K	0.2%	$16.47	—	COM	054303102
BK	BANK OF NEW YORK MELLON CORP	11,520	$407K	0.2%	$24.30	+1.9%	COM	064058100
CHRW	C.H. ROBINSON WORLDWIDE INC	7,550	$396K	0.2%	$43.63	-5.7%	COM	12541W209
—	ANADARKO PETROLEUM CORP	4,198	$356K	0.2%	$84.80	—	COM	032511107
WFC	WELLS FARGO & COMPANY	6,945	$345K	0.2%	$30.76	+8.6%	COM	949746101
MMM	3M CO	2,500	$339K	0.2%	$72.67	+4.9%	COM	88579Y101
AAPL	APPLE INC	450	$242K	0.1%	$16.41	+1.1%	COM	037833100
GLW	CORNING INC	10,695	$223K	0.1%	$12.05	+14.7%	COM	219350105