| Security | CUSIP | Shares | Traded Market Value | % of Holding ↓ |
| INTL BUSINESS MACHINES CO | 459200101 | 204,012 | $18,966,995.64 | 3.95% |
| MICROSOFT CORP. | 594918104 | 734,922 | $16,410,808.26 | 3.41% |
| PHILIP MORRIS INTERNATION | 718172109 | 356,300 | $15,488,361.00 | 3.22% |
| GOOGLE INC. - CLASS A | 38259P508 | 40,153 | $14,429,382.08 | 3.00% |
| INTEL CORP. | 458140100 | 858,530 | $13,736,480.00 | 2.86% |
| ORACLE CORP. | 68389X105 | 727,233 | $13,301,091.57 | 2.77% |
| MCDONALDS CORP | 580135101 | 224,750 | $13,019,767.50 | 2.71% |
| PEPSICO INC | 713448108 | 224,354 | $12,790,421.54 | 2.66% |
| QUALCOMM | 747525103 | 326,800 | $12,503,368.00 | 2.60% |
| APPLE, INC. | 037833100 | 113,395 | $12,200,168.05 | 2.54% |
| BAXTER INTL | 071813109 | 197,268 | $11,932,741.32 | 2.48% |
| WAL-MART STORES | 931142103 | 209,200 | $11,675,452.00 | 2.43% |
| GILEAD SCIENCES | 375558103 | 252,875 | $11,594,318.75 | 2.41% |
| EXXON MOBIL COR | 30231G102 | 155,090 | $11,495,270.80 | 2.39% |
| INST CASH MANAGEMENT MMKT | 76628T264 | 11,414,981 | $11,414,981.95 | 2.37% |
| UNION PAC CORP | 907818108 | 166,500 | $11,117,205.00 | 2.31% |
| AFLAC | 001055102 | 230,025 | $10,185,507.00 | 2.12% |
| MONSANTO CO. | 61166W101 | 107,200 | $9,538,656.00 | 1.98% |
| EXPRESS SCRIPTS, INC. | 302182100 | 152,980 | $9,272,117.80 | 1.93% |
| COLGATE PALMOLIVE CO | 194162103 | 144,421 | $9,063,861.96 | 1.88% |
| OCCIDENTAL PETROLEUM CORP | 674599105 | 162,300 | $9,014,142.00 | 1.87% |
| CVS CORP | 126650100 | 293,500 | $8,995,775.00 | 1.87% |
| RAYTHEON | 755111507 | 173,349 | $8,859,867.39 | 1.84% |
| ALLERGAN INC | 018490102 | 220,575 | $8,750,210.25 | 1.82% |
| EMERSON ELECTRIC CO | 291011104 | 266,779 | $8,731,676.67 | 1.81% |
| GENENTECH | 368710406 | 99,900 | $8,285,706.00 | 1.72% |
| CISCO SYSTEMS INC | 17275R102 | 457,018 | $8,121,209.86 | 1.69% |
| ADOBE SYSTEMS INC | 00724F101 | 303,875 | $8,095,230.00 | 1.68% |
| DIRECTV GROUP INC. | 25459L106 | 362,100 | $7,926,369.00 | 1.65% |
| HONEYWELL INTERNATIONAL I | 438516106 | 259,571 | $7,903,936.95 | 1.64% |
| BECTON DICKIN | 075887109 | 112,400 | $7,800,560.00 | 1.62% |
| NIKE INC B | 654106103 | 132,150 | $7,615,804.50 | 1.58% |
| PRAXAIR INC | 74005P104 | 116,805 | $7,609,845.75 | 1.58% |
| SCHLUMBERGER | 806857108 | 146,062 | $7,544,102.30 | 1.57% |
| COSTCO WHOLESALE CORP | 22160K105 | 124,895 | $7,120,263.95 | 1.48% |
| HEWLETT-PACKARD | 428236103 | 184,379 | $7,058,028.12 | 1.47% |
| TRANSOCEAN SEDCO FOREX IN | G90073100 | 83,052 | $6,837,671.16 | 1.42% |
| WASTE MANAGEMENT INC | 94106L109 | 204,000 | $6,370,920.00 | 1.32% |
| THERMO ELECTRON | 883556102 | 151,900 | $6,167,140.00 | 1.28% |
| NOVARTIS AG - ADR | 66987V109 | 120,700 | $6,154,493.00 | 1.28% |
| AMGEN INC | 031162100 | 100,900 | $6,042,901.00 | 1.25% |
| TJX COMPANIES INC | 872540109 | 215,400 | $5,764,104.00 | 1.20% |
| AVON PRODUCTS INC | 054303102 | 210,573 | $5,228,527.59 | 1.08% |
| ANALOG DEVICES | 032654105 | 244,600 | $5,224,656.00 | 1.08% |
| ANHEUSER-BUSCH COS INC | 035229103 | 75,000 | $4,652,250.00 | 0.96% |
| CAMERON INTERNATIONAL | 13342B105 | 188,400 | $4,570,584.00 | 0.95% |
| VISA INC-CLASS A SHARES | 92826C839 | 80,021 | $4,429,162.35 | 0.92% |
| BANK OF NEW YORK MELLON C | 064058100 | 124,900 | $4,071,740.00 | 0.84% |
| BANK OF AMERICA CORP. | 060505104 | 164,400 | $3,973,548.00 | 0.82% |
| TARGET CORP | 87612E106 | 95,311 | $3,823,877.32 | 0.79% |
| NORDSTROM INC | 655664100 | 169,600 | $3,068,064.00 | 0.63% |
| COMERICA INC | 200340107 | 107,200 | $2,957,648.00 | 0.61% |
| LOWES COS | 548661107 | 129,000 | $2,799,300.00 | 0.58% |
| FIRST SOLAR INC. | 336433107 | 18,900 | $2,715,930.00 | 0.56% |
| JOHNSON & JOHNSON | 478160104 | 40,399 | $2,478,074.66 | 0.51% |
| PROCTER & GAMBLE CO | 742718109 | 35,600 | $2,297,624.00 | 0.47% |
| HALLIBURTON CO. | 406216101 | 115,111 | $2,278,046.69 | 0.47% |
| ABBOTT LABORATORIES | 002824100 | 40,700 | $2,244,605.00 | 0.46% |
| GENERAL MILLS INC | 370334104 | 33,000 | $2,235,420.00 | 0.46% |
| PRICELINE.COM, INC. | 741503403 | 39,500 | $2,078,885.00 | 0.43% |
| COVANCE INC | 222816100 | 40,160 | $2,008,000.00 | 0.41% |
| Total Fund Assets | | | $480,042,855.73 | 100.00% |
