Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SYY	SYSCO CORP	3,111,976	$95.1M	45.3%	$30.56	$37.37	—	COM	871829107
—	ALLTEL CORP	164,044	$10.47M	5.0%	$63.83	$60.36	—	COM	020039103
XOM	EXXON MOBIL CORP	126,215	$7.743M	3.7%	$61.35	$58.31	—	COM	30231G102
WFC	WELLS FARGO CO NEW	90,626	$6.079M	2.9%	$67.08	$45.00	—	COM	949746101
USB	US BANCORP DEL	141,814	$4.379M	2.1%	$30.88	$25.59	—	COM NEW	902973304
CVX	CHEVRON CORP NEW	69,706	$4.326M	2.1%	$62.06	$69.02	—	COM	166764100
—	BERKSHIRE HATHAWAY INC DEL	1,274	$3.877M	1.8%	$3043.00	$2560.27	—	CL B	084670207
—	GENERAL ELECTRIC CO	106,553	$3.512M	1.7%	$32.96	$41.50	—	COM	369604103
HD	HOME DEPOT INC	83,101	$2.974M	1.4%	$35.79	$40.00	—	COM	437076102
—	FIRST DATA CORP	64,475	$2.904M	1.4%	$45.04	$42.45	—	COM	319963104
CAH	CARDINAL HEALTH INC	45,025	$2.896M	1.4%	$64.33	$53.83	—	COM	14149Y108
—	INGERSOLL-RAND COMPANY LTD	66,700	$2.853M	1.4%	$42.78	$44.18	—	CL A	G4776G101
PFE	PFIZER INC	119,510	$2.805M	1.3%	$23.47	$31.97	—	COM	717081103
DIS	DISNEY WALT CO	90,012	$2.7M	1.3%	$30.00	$23.95	—	COM DISNEY	254687106
MSFT	MICROSOFT CORP	113,665	$2.648M	1.3%	$23.30	$34.96	—	COM	594918104
—	MARATHON OIL CORP	30,800	$2.566M	1.2%	$83.30	$31.91	—	COM	565849106
CL	COLGATE PALMOLIVE CO	42,675	$2.556M	1.2%	$59.90	$46.95	—	COM	194162103
PAYX	PAYCHEX INC	63,900	$2.491M	1.2%	$38.98	$32.08	—	COM	704326107
JNJ	JOHNSON & JOHNSON	41,389	$2.48M	1.2%	$59.92	$57.03	—	COM	478160104
—	GANNETT INC	40,775	$2.281M	1.1%	$55.93	$68.16	—	COM	364730101
AMAT	APPLIED MATLS INC	140,000	$2.279M	1.1%	$16.28	$23.67	—	COM	038222105
—	WASHINGTON MUT INC	49,475	$2.255M	1.1%	$45.58	$37.94	—	COM	939322103
NWL	NEWELL BRANDS INC	86,250	$2.228M	1.1%	$25.83	$21.39	—	COM	651229106
—	VARIAN MED SYS INC	42,975	$2.035M	1.0%	$47.35	$37.60	—	COM	92220P105
—	AMERICAN INTL GROUP INC	34,158	$2.017M	1.0%	$59.05	$67.99	—	COM	026874107
WMT	WALMART INC	41,022	$1.976M	0.9%	$48.17	$47.62	—	COM	931142103
INTC	INTEL CORP	100,939	$1.918M	0.9%	$19.00	$43.62	—	COM	458140100
—	MOTOROLA INC	87,108	$1.755M	0.8%	$20.15	$16.59	—	COM	620076109
CSCO	CISCO SYS INC	82,565	$1.612M	0.8%	$19.53	$26.93	—	COM	17275R102
CAG	CONAGRA BRANDS INC	68,708	$1.519M	0.7%	$22.11	$24.25	—	COM	205887102
CLX	CLOROX CO DEL	24,325	$1.483M	0.7%	$60.97	$47.72	—	COM	189054109
WDFC	WD-40 CO	43,215	$1.451M	0.7%	$33.57	$28.47	—	COM	929236107
—	SAFECO CORP	19,300	$1.088M	0.5%	$56.35	$46.00	—	COM	786429100
HON	HONEYWELL INTL INC	26,160	$1.054M	0.5%	$40.30	$32.70	—	COM	438516106
BDX	BECTON DICKINSON & CO	14,525	$888K	0.4%	$61.13	$45.11	—	COM	075887109
TRN	TRINITY INDS INC	21,525	$870K	0.4%	$40.40	$28.25	—	COM	896522109
TXN	TEXAS INSTRS INC	28,344	$859K	0.4%	$30.29	$26.43	—	COM	882508104
BSX	BOSTON SCIENTIFIC CORP	49,950	$841K	0.4%	$16.84	$26.73	—	COM	101137107
—	STEWART ENTERPRISES INC	139,087	$800K	0.4%	$5.75	$3.96	—	CL A	860370105
SLB	SCHLUMBERGER LTD	11,950	$778K	0.4%	$65.11	$53.60	—	COM	806857108
IBM	INTERNATIONAL BUSINESS MACHS	9,500	$730K	0.3%	$76.82	$87.06	—	COM	459200101
JPM	JPMORGAN CHASE & CO	16,443	$691K	0.3%	$42.00	$39.22	—	COM	46625H100
ZION	ZIONS BANCORPORATION N A	7,993	$623K	0.3%	$77.94	$46.47	—	COM	989701107
—	CA INC COM	23,900	$491K	0.2%	$20.55	$27.21	—	COM	12673P105
COP	CONOCOPHILLIPS	7,115	$466K	0.2%	$65.53	$69.98	—	COM	20825C104
—	WALGREEN CO	10,004	$449K	0.2%	$44.84	$33.56	—	COM	931422109
IDA	IDACORP INC	13,000	$446K	0.2%	$34.29	$26.03	—	COM	451107106
ORCL	ORACLE CORP	30,296	$439K	0.2%	$14.49	$28.79	—	COM	68389X105
UNP	UNION PAC CORP	4,480	$416K	0.2%	$92.96	$56.47	—	COM	907818108
APD	AIR PRODS & CHEMS INC	6,400	$409K	0.2%	$63.92	$38.28	—	COM	009158106
BMY	BRISTOL-MYERS SQUIBB CO	15,782	$408K	0.2%	$25.86	$48.64	—	COM	110122108
—	MERCK & CO INC	10,846	$395K	0.2%	$36.43	$68.09	—	COM	589331107
—	SHURGARD STORAGE CTRS INC	6,150	$384K	0.2%	$62.50	$38.88	—	COM	82567D104
—	PLUM CREEK TIMBER CO INC	9,911	$352K	0.2%	$35.50	$35.05	—	COM	729251108
LLY	LILLY ELI & CO	6,309	$349K	0.2%	$55.27	$53.32	—	COM	532457108
—	ROYAL DUTCH SHELL PLC	4,984	$334K	0.2%	$66.98	$64.81	—	SPONS ADR A	780259206
PFG	PRINCIPAL FINL GROUP INC	5,985	$333K	0.2%	$55.65	$27.11	—	COM	74251V102
KO	COCA COLA CO	7,658	$329K	0.2%	$43.02	$51.06	—	COM	191216100
RF	REGIONS FINANCIAL CORP NEW	9,693	$321K	0.2%	$33.12	$33.06	—	COM	7591EP100
—	HEWLETT PACKARD CO	9,897	$314K	0.1%	$31.68	$28.78	—	COM	428236103
—	DELL INC	12,448	$304K	0.1%	$24.46	$28.14	—	COM	24702R101
—	SAFEWAY INC	10,900	$283K	0.1%	$26.00	$34.40	—	COM	786514208
—	UNITED DOMINION REALTY TR IN	10,000	$280K	0.1%	$28.01	$11.00	—	COM	910197102
BP	BP PLC	3,942	$274K	0.1%	$69.61	$69.17	—	SPONSORED ADR	055622104
EQR	EQUITY RESIDENTIAL	5,912	$264K	0.1%	$44.73	$37.90	—	SH BEN INT	29476L107
SPY	SPDR S&P 500 ETF TR	2,010	$256K	0.1%	$127.23	$124.51	—	TR UNIT	78462F103
—	MFS CHARTER INCOME TR	29,600	$243K	0.1%	$8.21	$8.62	—	SH BEN INT	552727109
—	KINDER MORGAN INC KANS	2,181	$218K	0.1%	$99.89	$91.99	—	COM	49455P101
—	HYPERION TOTAL RETURN & INCO	24,900	$215K	0.1%	$8.63	$8.40	—	COM	449145101
—	MANAGED HIGH INCOME PORTFOLI	30,950	$182K	0.1%	$5.88	$8.63	—	COM	56166C105
—	MORGAN STANLEY HIGH YIELD FD	30,150	$168K	0.1%	$5.57	$11.56	—	COM	61744M104
—	VOLTERRA SEMICONDUCTOR CORP	10,333	$158K	0.1%	$15.26	$13.50	—	COM	928708106
—	AMERICAN STRATEGIC INCOME II	14,670	$155K	0.1%	$10.54	$10.56	—	COM	03009T101
—	CREDIT SUISSE ASSET MGMT INC	35,484	$141K	0.1%	$3.96	$5.84	—	COM	224916106
—	DREYFUS MUN INCOME INC COM	15,883	$137K	0.1%	$8.62	$7.56	—	COM	26201R102
—	NUVEEN ARIZONA QLTY MUN INC	10,000	$132K	0.1%	$13.20	$14.75	—	COM	67061W104
—	BLACKROCK INCOME TR INC	21,200	$130K	0.1%	$6.11	$6.53	—	COM	09247F100
—	EF JOHNSON TECHNOLOGIES INC	18,400	$111K	0.1%	$6.01	$7.65	—	COM	26843B101
—	LEVEL 3 COMMUNICATIONS INC	11,350	$50,394	0.0%	$4.44	$59.63	—	COM	52729N100
—	LUCENT TECHNOLOGIES INC	12,589	$30,465	0.0%	$2.42	$27.26	—	COM	549463107