| Security | CUSIP | Shares | Traded Market Value | % of Holding ↓ |
| INST CASH MANAGEMENT MMKT | 76628T264 | 8,681,034 | $8,681,034.46 | 8.38% |
| INTL BUSINESS MACHINES CO | 459200101 | 47,048 | $4,374,052.56 | 4.22% |
| GOOGLE INC. - CLASS A | 38259P508 | 10,712 | $3,849,464.32 | 3.71% |
| EXPRESS SCRIPTS, INC. | 302182100 | 59,385 | $3,599,324.85 | 3.47% |
| PEPSICO INC | 713448108 | 61,660 | $3,515,236.60 | 3.39% |
| APPLE, INC. | 037833100 | 31,870 | $3,428,893.30 | 3.31% |
| ORACLE CORP. | 68389X105 | 182,828 | $3,343,924.12 | 3.23% |
| INTEL CORP. | 458140100 | 207,696 | $3,323,136.00 | 3.21% |
| COLGATE PALMOLIVE CO | 194162103 | 49,980 | $3,136,744.80 | 3.03% |
| COSTCO WHOLESALE CORP | 22160K105 | 54,980 | $3,134,409.80 | 3.02% |
| BAXTER INTL | 071813109 | 49,850 | $3,015,426.50 | 2.91% |
| UNION PAC CORP | 907818108 | 44,575 | $2,976,272.75 | 2.87% |
| GILEAD SCIENCES | 375558103 | 64,585 | $2,961,222.25 | 2.86% |
| QUALCOMM | 747525103 | 77,290 | $2,957,115.40 | 2.85% |
| BECTON DICKIN | 075887109 | 42,550 | $2,952,970.00 | 2.85% |
| CVS CORP | 126650100 | 94,590 | $2,899,183.50 | 2.80% |
| MONSANTO CO. | 61166W101 | 31,220 | $2,777,955.60 | 2.68% |
| RAYTHEON | 755111507 | 53,610 | $2,740,007.10 | 2.64% |
| THERMO ELECTRON | 883556102 | 63,840 | $2,591,904.00 | 2.50% |
| DIRECTV GROUP INC. | 25459L106 | 109,110 | $2,388,417.90 | 2.30% |
| CISCO SYSTEMS INC | 17275R102 | 133,880 | $2,379,047.60 | 2.29% |
| ALLERGAN INC | 018490102 | 58,100 | $2,304,827.00 | 2.22% |
| AMGEN INC | 031162100 | 37,570 | $2,250,067.30 | 2.17% |
| NIKE INC B | 654106103 | 38,150 | $2,198,584.50 | 2.12% |
| PRAXAIR INC | 74005P104 | 32,740 | $2,133,011.00 | 2.06% |
| SCHLUMBERGER | 806857108 | 40,160 | $2,074,264.00 | 2.00% |
| UTD TECHNOLGIES | 913017109 | 34,940 | $1,920,302.40 | 1.85% |
| EMERSON ELECTRIC CO | 291011104 | 57,250 | $1,873,792.50 | 1.81% |
| T ROWE PRICE GROUP INC. | 74144T108 | 45,540 | $1,800,651.60 | 1.73% |
| ADOBE SYSTEMS INC | 00724F101 | 67,360 | $1,794,470.40 | 1.73% |
| CAMERON INTERNATIONAL | 13342B105 | 72,750 | $1,764,915.00 | 1.70% |
| AFLAC | 001055102 | 37,730 | $1,670,684.40 | 1.61% |
| HALLIBURTON CO. | 406216101 | 82,310 | $1,628,914.90 | 1.57% |
| WASTE MANAGEMENT INC | 94106L109 | 46,525 | $1,452,975.75 | 1.40% |
| OCCIDENTAL PETROLEUM CORP | 674599105 | 25,985 | $1,443,206.90 | 1.39% |
| MCDONALDS CORP | 580135101 | 24,900 | $1,442,457.00 | 1.39% |
| OMNICOM GROUP | 681919106 | 46,550 | $1,375,087.00 | 1.32% |
| ANALOG DEVICES | 032654105 | 58,360 | $1,246,569.60 | 1.20% |
| GOLDMAN SACHS, INC. | 38141G104 | 11,760 | $1,087,800.00 | 1.05% |
| RESEARCH IN MOTION LTD. | 760975102 | 19,800 | $998,514.00 | 0.96% |
| Total Fund Assets | | | $103,486,838.66 | 100.00% |
As of 10/31/2008.
Holdings subject to change.
