Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SYY	SYSCO CORP	3,112,976	$99.77M	46.2%	$32.05	$37.37	—	COM	871829107
—	ALLTEL CORP	167,734	$10.86M	5.0%	$64.75	$60.36	—	COM	020039103
XOM	EXXON MOBIL CORP	126,215	$7.681M	3.6%	$60.86	$58.31	—	COM	30231G102
WFC	WELLS FARGO CO NEW	91,165	$5.823M	2.7%	$63.87	$45.00	—	COM	949746101
USB	US BANCORP DEL	142,205	$4.337M	2.0%	$30.50	$25.59	—	COM NEW	902973304
CVX	CHEVRON CORP NEW	69,706	$4.041M	1.9%	$57.97	$69.02	—	COM	166764100
—	BERKSHIRE HATHAWAY INC DEL	1,274	$3.837M	1.8%	$3012.00	$2560.27	—	CL B	084670207
HD	HOME DEPOT INC	81,551	$3.45M	1.6%	$42.30	$40.08	—	COM	437076102
CAH	CARDINAL HEALTH INC	44,225	$3.296M	1.5%	$74.52	$53.64	—	COM	14149Y108
—	GENERAL ELECTRIC CO	93,572	$3.254M	1.5%	$34.78	$42.69	—	COM	369604103
MSFT	MICROSOFT CORP	110,065	$2.995M	1.4%	$27.21	$35.34	—	COM	594918104
PFE	PFIZER INC	119,510	$2.978M	1.4%	$24.92	$31.97	—	COM	717081103
—	FIRST DATA CORP	63,375	$2.967M	1.4%	$46.82	$42.41	—	COM	319963104
PAYX	PAYCHEX INC	63,800	$2.658M	1.2%	$41.66	$32.08	—	COM	704326107
—	GANNETT INC	41,375	$2.479M	1.1%	$59.92	$68.16	—	COM	364730101
DIS	DISNEY WALT CO	88,462	$2.467M	1.1%	$27.89	$23.84	—	COM DISNEY	254687106
CL	COLGATE PALMOLIVE CO	43,175	$2.465M	1.1%	$57.10	$46.95	—	COM	194162103
—	VARIAN MED SYS INC	42,975	$2.413M	1.1%	$56.16	$37.60	—	COM	92220P105
AMAT	APPLIED MATLS INC	136,250	$2.386M	1.1%	$17.51	$23.87	—	COM	038222105
—	MARATHON OIL CORP	31,200	$2.377M	1.1%	$76.17	$31.91	—	COM	565849106
—	AMERICAN INTL GROUP INC	34,158	$2.258M	1.0%	$66.09	$67.99	—	COM	026874107
NWL	NEWELL BRANDS INC	86,150	$2.17M	1.0%	$25.19	$21.39	—	COM	651229106
JNJ	JOHNSON & JOHNSON	36,239	$2.146M	1.0%	$59.22	$56.62	—	COM	478160104
—	WASHINGTON MUT INC	49,475	$2.109M	1.0%	$42.62	$37.94	—	COM	939322103
—	INGERSOLL-RAND COMPANY LTD	48,250	$2.016M	0.9%	$41.79	$44.72	—	CL A	G4776G101
—	MOTOROLA INC	85,408	$1.957M	0.9%	$22.91	$16.52	—	COM	620076109
INTC	INTEL CORP	97,239	$1.892M	0.9%	$19.46	$44.56	—	COM	458140100
WMT	WALMART INC	38,822	$1.834M	0.8%	$47.24	$47.59	—	COM	931142103
CSCO	CISCO SYS INC	82,565	$1.789M	0.8%	$21.67	$26.93	—	COM	17275R102
CAG	CONAGRA BRANDS INC	69,358	$1.488M	0.7%	$21.46	$24.25	—	COM	205887102
CLX	CLOROX CO DEL	24,625	$1.474M	0.7%	$59.85	$47.72	—	COM	189054109
WDFC	WD-40 CO	43,215	$1.333M	0.6%	$30.85	$28.47	—	COM	929236107
BSX	BOSTON SCIENTIFIC CORP	52,200	$1.203M	0.6%	$23.05	$26.73	—	COM	101137107
HON	HONEYWELL INTL INC	26,860	$1.149M	0.5%	$42.77	$32.70	—	COM	438516106
—	SAFECO CORP	18,900	$949K	0.4%	$50.21	$45.79	—	COM	786429100
TXN	TEXAS INSTRS INC	28,344	$920K	0.4%	$32.47	$26.43	—	COM	882508104
BDX	BECTON DICKINSON & CO	14,825	$913K	0.4%	$61.58	$45.11	—	COM	075887109
TRN	TRINITY INDS INC	15,375	$836K	0.4%	$54.39	$23.39	—	COM	896522109
—	STEWART ENTERPRISES INC	138,887	$793K	0.4%	$5.71	$3.96	—	CL A	860370105
IBM	INTERNATIONAL BUSINESS MACHS	9,500	$783K	0.4%	$82.47	$87.06	—	COM	459200101
SLB	SCHLUMBERGER LTD	5,975	$756K	0.4%	$126.57	$42.09	—	COM	806857108
JPM	JPMORGAN CHASE & CO	16,443	$685K	0.3%	$41.64	$39.22	—	COM	46625H100
—	CA INC COM	25,000	$680K	0.3%	$27.21	$27.21	—	COM	12673P105
ZION	ZIONS BANCORPORATION N A	8,093	$670K	0.3%	$82.73	$46.47	—	COM	989701107
—	MERCK & CO INC	12,546	$442K	0.2%	$35.23	$68.09	—	COM	589331107
—	WALGREEN CO	10,004	$431K	0.2%	$43.13	$33.56	—	COM	931422109
COP	CONOCOPHILLIPS	6,826	$431K	0.2%	$63.15	$70.17	—	COM	20825C104
APD	AIR PRODS & CHEMS INC	6,400	$430K	0.2%	$67.19	$38.28	—	COM	009158106
BMY	BRISTOL-MYERS SQUIBB CO	17,382	$428K	0.2%	$24.61	$48.64	—	COM	110122108
IDA	IDACORP INC	13,000	$423K	0.2%	$32.52	$26.03	—	COM	451107106
UNP	UNION PAC CORP	4,480	$418K	0.2%	$93.35	$56.47	—	COM	907818108
ORCL	ORACLE CORP	30,296	$415K	0.2%	$13.69	$28.79	—	COM	68389X105
—	SHURGARD STORAGE CTRS INC	6,150	$410K	0.2%	$66.63	$38.88	—	COM	82567D104
LLY	LILLY ELI & CO	6,309	$349K	0.2%	$55.30	$53.32	—	COM	532457108
—	PLUM CREEK TIMBER CO INC	9,411	$348K	0.2%	$36.93	$35.03	—	COM	729251108
RF	REGIONS FINANCIAL CORP NEW	9,693	$341K	0.2%	$35.17	$33.06	—	COM	7591EP100
KO	COCA COLA CO	7,658	$321K	0.1%	$41.87	$51.06	—	COM	191216100
—	ROYAL DUTCH SHELL PLC	4,984	$310K	0.1%	$62.26	$64.81	—	SPONS ADR A	780259206
—	HEWLETT PACKARD CO	9,397	$309K	0.1%	$32.90	$28.63	—	COM	428236103
PFG	PRINCIPAL FINL GROUP INC	6,069	$296K	0.1%	$48.80	$27.11	—	COM	74251V102
—	UNITED DOMINION REALTY TR IN	10,000	$285K	0.1%	$28.54	$11.00	—	COM	910197102
—	SAFEWAY INC	11,200	$281K	0.1%	$25.12	$34.40	—	COM	786514208
EQR	EQUITY RESIDENTIAL	5,912	$277K	0.1%	$46.79	$37.90	—	SH BEN INT	29476L107
BP	BP PLC	3,942	$272K	0.1%	$68.94	$69.17	—	SPONSORED ADR	055622104
SPY	SPDR S&P 500 ETF TR	2,010	$261K	0.1%	$129.83	$124.51	—	TR UNIT	78462F103
—	DELL INC	8,648	$257K	0.1%	$29.76	$29.76	—	COM	24702R101
—	MFS CHARTER INCOME TR	29,600	$249K	0.1%	$8.42	$8.62	—	SH BEN INT	552727109
—	MERRILL LYNCH & CO INC	2,700	$213K	0.1%	$78.76	$78.76	—	COM	590188108
—	HYPERION TOTAL RETURN & INCO	24,900	$209K	0.1%	$8.40	$8.40	—	COM	449145101
—	DREYFUS MUN INCOME INC COM	23,383	$208K	0.1%	$8.91	$7.56	—	COM	26201R102
SHW	SHERWIN WILLIAMS CO	4,200	$208K	0.1%	$49.44	$49.44	—	COM	824348106
—	KINDER MORGAN INC KANS	2,181	$201K	0.1%	$91.99	$91.99	—	COM	49455P101
—	EF JOHNSON TECHNOLOGIES INC	18,400	$199K	0.1%	$10.79	$7.65	—	COM	26843B101
—	VOLTERRA SEMICONDUCTOR CORP	10,333	$197K	0.1%	$19.09	$13.50	—	COM	928708106
—	MANAGED HIGH INCOME PORTFOLI	30,950	$187K	0.1%	$6.03	$8.63	—	COM	56166C105
—	AMERICAN STRATEGIC INCOME II	16,270	$174K	0.1%	$10.72	$10.56	—	COM	03009T101
—	MORGAN STANLEY HIGH YIELD FD	30,150	$173K	0.1%	$5.73	$11.56	—	COM	61744M104
—	CREDIT SUISSE ASSET MGMT INC	39,484	$156K	0.1%	$3.96	$5.84	—	COM	224916106
—	NUVEEN ARIZONA QLTY MUN INC	10,000	$141K	0.1%	$14.14	$14.75	—	COM	67061W104
—	BLACKROCK INCOME TR INC	21,200	$131K	0.1%	$6.19	$6.53	—	COM	09247F100
—	LEVEL 3 COMMUNICATIONS INC	11,350	$58,793	0.0%	$5.18	$59.63	—	COM	52729N100
—	LUCENT TECHNOLOGIES INC	12,589	$38,396	0.0%	$3.05	$27.26	—	COM	549463107