0000950103-12-000685.txt : 20120210
0000950103-12-000685.hdr.sgml : 20120210
20120210104803
ACCESSION NUMBER: 0000950103-12-000685
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20111231
FILED AS OF DATE: 20120210
DATE AS OF CHANGE: 20120210
EFFECTIVENESS DATE: 20120210
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Fjarde AP-fonden (The Fourth Swedish National Pensionfund)
CENTRAL INDEX KEY: 0001537626
IRS NUMBER: 000000000
STATE OF INCORPORATION: V7
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-14677
FILM NUMBER: 12590136
BUSINESS ADDRESS:
STREET 1: REGERINGSGATAN 30-32
STREET 2: BOX 3069
CITY: STOCKHOLM
STATE: V7
ZIP: 10361
BUSINESS PHONE: 46-8-787-75-00
MAIL ADDRESS:
STREET 1: REGERINGSGATAN 30-32
STREET 2: BOX 3069
CITY: STOCKHOLM
STATE: V7
ZIP: 10361
FORMER COMPANY:
FORMER CONFORMED NAME: Fourth Swedish National Pensionfund
DATE OF NAME CHANGE: 20111219
13F-HR
1
dp28642_13fhr-ap4.txt
13F-HR
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2011
Check here if Amendment [_]; Amendment Number:
---------------------
This Amendment (Check only one.): [_] is a restatement.
[_] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: FJARDE AP-FONDEN/FOURTH SWEDISH NATIONAL PENSION FUND
Address: P.O. BOX 3069
SE 103 61 STOCKHOLM
SWEDEN
Form 13F File Number: 28-
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: PETER EDLING
Title: CONTROLLER
Phone: +4687877577
Signature, Place, and Date of Signing:
/s/ Peter Edling Stockholm, Sweden February 10, 2012
-------------------------- ---------------------- -------------------
[Signature] [City, State] [Date]
Report Type (Check only one):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[_] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 581
Form 13F Information Table Value Total: $4,206,821
-------------
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
FORM 13F INFORMATION TABLE
FJARDE AP-FONDEN/FOURTH SWEDISH NATIONAL PENSION FUND
FOR THE QUARTER ENDED DECEMBER 31, 2011
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------------------------------------------
3M COM 88579Y101 19,623 240,098 SH SOLE 19,623
ABBOTT LAB COM 002824100 31,233 555,446 SH SOLE 31,233
ABERCROMBIE A STOCK 002896207 1,485 30,408 SH SOLE 1,485
ACCENTURE COM G1151C101 12,147 228,196 SH SOLE 12,147
ACE COM H0023R105 8,384 119,570 SH SOLE 8,384
ACTIVISION COM 00507V109 2,414 195,954 SH SOLE 2,414
ADOBE COM 00724F101 4,949 175,063 SH SOLE 4,949
ADVANCE AUTO COM 00751Y106 1,969 28,252 SH SOLE 1,969
AES COM 00130H105 2,870 242,368 SH SOLE 2,870
AETNA COM 00817Y108 5,558 131,728 SH SOLE 5,558
AFLAC COM 001055102 7,204 166,520 SH SOLE 7,204
AGCO CORP COM 001084102 1,598 37,200 SH SOLE 1,598
AGILENT COM 00846U101 4,292 122,878 SH SOLE 4,292
AIG COM 026874784 4,015 173,063 SH SOLE 4,015
AIR PRODUCTS COM 009158106 6,472 75,453 SH SOLE 6,472
AIRGAS COM 009363102 2,034 26,049 SH SOLE 2,034
AKAMAI TECH COM 00971T101 2,167 67,121 SH SOLE 2,167
ALCOA COM 013817101 3,246 375,291 SH SOLE 3,246
ALEXION PHARMA COM 015351109 4,969 69,502 SH SOLE 4,969
ALLEGHENY COM 01741R102 1,685 35,261 SH SOLE 1,685
ALLERGAN COM 018490102 9,549 108,838 SH SOLE 9,549
ALLIANCE DATA COM 018581108 1,955 18,828 SH SOLE 1,955
ALLIANT ENERGY COM 018802108 1,931 43,766 SH SOLE 1,931
ALLSTATE COM 020002101 5,082 185,410 SH SOLE 5,082
ALPHA NAT COM 02076X102 1,672 81,823 SH SOLE 1,672
ALTERA COM 021441100 4,313 116,246 SH SOLE 4,313
ALTRIA COM 02209S103 22,251 740,217 SH SOLE 22,251
AMAZON COM 023135106 22,443 129,651 SH SOLE 22,443
AMD COM 007903107 1,090 201,863 SH SOLE 1,090
AMEREN COM 023608102 2,878 86,868 SH SOLE 2,878
AMERICAN EXPRESS COM 025816109 18,021 382,050 SH SOLE 18,021
AMERICAN POWER COM 025537101 7,145 172,962 SH SOLE 7,145
AMERICAN TOWER A STOCK 03027X100 8,529 142,131 SH SOLE 8,529
AMERICAN WATER COM 030420103 2,195 68,904 SH SOLE 2,195
AMERIPRISE F COM 03076C106 4,134 83,273 SH SOLE 4,134
AMERISOURCEBERG COM 03073E105 3,530 94,911 SH SOLE 3,530
AMETEK COM 031100100 2,642 62,758 SH SOLE 2,642
AMGEN COM 031162100 18,224 283,821 SH SOLE 18,224
AMPHENOL COM 032095101 2,714 59,784 SH SOLE 2,714
ANADARKO COM 032511107 13,458 176,315 SH SOLE 13,458
ANALOG DEVICES COM 032654105 3,889 108,685 SH SOLE 3,889
ANNALY CAPITAL COM 035710409 6,060 366,604 SH SOLE 6,060
AON COM 037389103 4,820 102,997 SH SOLE 4,820
APACHE COM 037411105 12,317 135,984 SH SOLE 12,317
APOLLO GROUP A COM 037604105 2,348 43,580 SH SOLE 2,348
APPLE COM 037833100 133,730 330,198 SH SOLE 133,730
APPLIED MATERIAL COM 038222105 4,984 465,337 SH SOLE 4,984
ARCH CAPITAL COM G0450A105 1,921 51,597 SH SOLE 1,921
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------------------------------------------
ARCH COAL COM 039380100 1,204 83,000 SH SOLE 1,204
ARCHER-DANIELS COM 039483102 6,834 238,964 SH SOLE 6,834
ARROW ELEC COM 042735100 1,724 46,073 SH SOLE 1,724
ASSURANT COM 04621X108 1,359 33,100 SH SOLE 1,359
AT N T INC COM 00206R102 63,867 2,111,989 SH SOLE 63,867
AUTODESK COM 052769106 2,537 83,641 SH SOLE 2,537
AUTOLIV US COM 052800109 1,862 34,810 SH SOLE 1,862
AUTOMATIC DATA COM 053015103 9,458 175,119 SH SOLE 9,458
AUTOZONE COM 053332102 2,896 8,913 SH SOLE 2,896
AVAGO TECHNO COM Y0486S104 2,367 82,000 SH SOLE 2,367
AVALONBAY COMM COM 053484101 4,362 33,176 SH SOLE 4,362
AVERY DENNISON COM 053611109 1,104 38,500 SH SOLE 1,104
AVNET COM 053807103 1,854 59,633 SH SOLE 1,854
AVON PRODUCTS COM 054303102 2,722 155,838 SH SOLE 2,722
AXIS CAPITAL COM G0692U109 1,495 46,432 SH SOLE 1,495
BAKER HUGHES COM 057224107 7,507 154,340 SH SOLE 7,507
BALL CORP COM 058498106 1,986 55,615 SH SOLE 1,986
BANK NY MELLON COM 064058100 8,647 434,312 SH SOLE 8,647
BANK OF AMERICA COM 060505104 20,141 3,622,543 SH SOLE 20,141
BARD C R COM 067383109 2,629 30,750 SH SOLE 2,629
BAXTER COM 071813109 10,080 203,723 SH SOLE 10,080
BB N T COM 054937107 6,200 246,312 SH SOLE 6,200
BEAM COM 073730103 2,540 49,577 SH SOLE 2,540
BECTON DICKINSON COM 075887109 5,820 77,897 SH SOLE 5,820
BED BATH BEYOND COM 075896100 5,131 88,507 SH SOLE 5,131
BERKLEY COM 084423102 1,571 45,691 SH SOLE 1,571
BERKSHIRE B STOCK 084670702 23,137 303,234 SH SOLE 23,137
BEST BUY COM 086516101 2,644 112,359 SH SOLE 2,644
BIOGEN IDEC COM 09062X103 8,938 81,216 SH SOLE 8,938
BLACKROCK COM 09247X101 5,930 33,272 SH SOLE 5,930
BLOCK COM 093671105 1,840 112,681 SH SOLE 1,840
BMC SOFTWARE COM 055921100 1,970 60,108 SH SOLE 1,970
BOEING COM 097023105 18,400 250,853 SH SOLE 18,400
BORGWARNER COM 099724106 2,723 42,727 SH SOLE 2,723
BOSTON PROP COM 101121101 5,195 51,872 SH SOLE 5,195
BOSTON SCIENTIFI COM 101137107 2,880 539,278 SH SOLE 2,880
BRISTOL-MYERS COM 110122108 21,484 609,649 SH SOLE 21,484
BROADCOM COM 111320107 5,047 171,903 SH SOLE 5,047
BROWN-FORMAN B STOCK 115637209 2,339 29,055 SH SOLE 2,339
BUNGE COM G16962105 3,223 56,343 SH SOLE 3,223
CA COM 12673P105 2,887 142,839 SH SOLE 2,887
CABLEVISION A COM 12686C109 1,024 71,983 SH SOLE 1,024
CABOT OIL N GAS COM 127097103 2,794 36,814 SH SOLE 2,794
CALPINE CORP COM 131347304 1,947 119,244 SH SOLE 1,947
CAMERON COM 13342B105 4,353 88,494 SH SOLE 4,353
CAMPBELL SOUP COM 134429109 2,323 69,272 SH SOLE 2,323
CAPITAL ONE COM 14040H105 6,967 164,739 SH SOLE 6,967
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------------------------------------------
CARDINAL HEALTH COM 14149Y108 4,975 121,852 SH SOLE 4,975
CAREFUSION COM 14170T101 1,994 78,474 SH SOLE 1,994
CARMAX COM 143130102 2,477 81,251 SH SOLE 2,477
CARNIVAL CORP COM 143658300 5,258 161,080 SH SOLE 5,258
CATERPILLAR COM 149123101 20,906 230,753 SH SOLE 20,906
CBRE GROUP COM 12504L109 1,547 101,674 SH SOLE 1,547
CBS B STOCK 124857202 5,978 220,277 SH SOLE 5,978
CELANESE CORP COM 150870103 2,693 60,823 SH SOLE 2,693
CELGENE COM 151020104 10,974 162,332 SH SOLE 10,974
CENTERPOINT COM 15189T107 2,909 144,780 SH SOLE 2,909
CENTURYLINK COM 156700106 8,112 218,058 SH SOLE 8,112
CERNER CORP COM 156782104 3,142 51,296 SH SOLE 3,142
CF INDUSTRIES COM 125269100 3,761 25,944 SH SOLE 3,761
CH ROBINSON COM 12541W209 4,029 57,738 SH SOLE 4,029
CHARLES SCHWAB COM 808513105 4,357 386,935 SH SOLE 4,357
CHESAPEAKE ENERG COM 165167107 5,265 236,188 SH SOLE 5,265
CHEVRON COM 166764100 75,938 713,705 SH SOLE 75,938
CHIPOTLE MEXICAN COM 169656105 3,776 11,181 SH SOLE 3,776
CHUBB COM 171232101 7,036 101,075 SH SOLE 7,036
CHURCH DWIGHT COM 171340102 2,559 55,912 SH SOLE 2,559
CIGNA CORP COM 125509109 4,233 100,786 SH SOLE 4,233
CIMAREX ENERGY COM 171798101 2,061 33,303 SH SOLE 2,061
CINCINNATI FINAN COM 172062101 1,702 55,149 SH SOLE 1,702
CINTAS CORP COM 172908105 1,439 41,335 SH SOLE 1,439
CISCO COM 17275R102 35,470 1,961,837 SH SOLE 35,470
CIT GROUP COM 125581801 2,503 71,790 SH SOLE 2,503
CITIGROUP COM 172967101 27,394 1,041,213 SH SOLE 27,394
CITRIX COM 177376100 4,105 67,610 SH SOLE 4,105
CLIFFS NATURAL COM 18683K101 3,274 52,516 SH SOLE 3,274
CLOROX COM 189054109 3,136 47,108 SH SOLE 3,136
CME GROUP COM 12572Q105 5,561 22,821 SH SOLE 5,561
COACH COM 189754104 6,238 102,190 SH SOLE 6,238
COCA COLA COM 191216100 51,161 731,191 SH SOLE 51,161
COCA COLA ENT COM 19122T109 2,895 112,311 SH SOLE 2,895
COGNIZANT TECH COM 192446102 6,972 108,406 SH SOLE 6,972
COLGATE COM 194162103 16,076 174,000 SH SOLE 16,076
COMCAST COM 20030N200 5,826 246,116 SH SOLE 5,826
COMCAST A STOCK 20030N101 17,417 731,109 SH SOLE 17,417
COMERICA COM 200340107 1,861 72,148 SH SOLE 1,861
COMPUTER SCIENCE COM 205363104 1,398 58,489 SH SOLE 1,398
CON ED COM 209115104 6,423 103,540 SH SOLE 6,423
CONAGRA FOODS COM 205887102 3,817 144,590 SH SOLE 3,817
CONCHO RESOURCES COM 20605P101 3,571 38,088 SH SOLE 3,571
CONOCO PHILLIPS COM 20825C104 33,787 463,658 SH SOLE 33,787
CONSOL ENERGY COM 20854P109 3,011 82,035 SH SOLE 3,011
CONSTELLATION A STOCK 21036P108 1,371 66,332 SH SOLE 1,371
CONSTELTN ENERGY COM 210371100 2,713 68,391 SH SOLE 2,713
CONTINENTAL RES COM 212015101 1,130 16,932 SH SOLE 1,130
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------------------------------------------
COOPER IND A STOCK G24140108 3,148 58,134 SH SOLE 3,148
CORNING COM 219350105 7,212 555,629 SH SOLE 7,212
COSTCO WHOLESALE COM 22160K105 12,919 155,047 SH SOLE 12,919
COVANCE COM 222816100 1,113 24,335 SH SOLE 1,113
COVENTRY HEALTH COM 222862104 1,565 51,545 SH SOLE 1,565
COVIDIEN COM G2554F113 7,979 177,282 SH SOLE 7,979
CREE COM 225447101 958 43,483 SH SOLE 958
CROWN CASTLE INT COM 228227104 4,854 108,341 SH SOLE 4,854
CROWN HOLDINGS COM 228368106 1,907 56,796 SH SOLE 1,907
CSX COM 126408103 8,244 391,451 SH SOLE 8,244
CUMMINS COM 231021106 5,822 66,149 SH SOLE 5,822
CVS COM 126650100 19,484 477,772 SH SOLE 19,484
DANAHER COM 235851102 9,725 206,619 SH SOLE 9,725
DARDEN REST COM 237194105 2,104 46,159 SH SOLE 2,104
DAVITA COM 23918K108 2,495 32,913 SH SOLE 2,495
DEERE COM 244199105 11,465 147,446 SH SOLE 11,465
DELL INC COM 24702R101 8,534 583,352 SH SOLE 8,534
DELTA AIR LINES COM 247361702 600 74,108 SH SOLE 600
DENBURY COM 247916208 2,174 143,991 SH SOLE 2,174
DENTSPLY COM 249030107 1,717 49,000 SH SOLE 1,717
DEVON ENERGY COM 25179M103 8,650 139,514 SH SOLE 8,650
DEVRY COM 251893103 938 24,300 SH SOLE 938
DIAMOND OFFSHORE COM 25271C102 1,332 24,112 SH SOLE 1,332
DIGITAL COM 253868103 2,522 37,441 SH SOLE 2,522
DIRECTV GROUP COM 25490A101 11,177 261,397 SH SOLE 11,177
DISCOVER FIN COM 254709108 4,642 192,628 SH SOLE 4,642
DISCOVERY HOLD A STOCK 25470F104 1,918 46,813 SH SOLE 1,918
DISCOVERY HOLD C STOCK 25470F302 1,883 49,946 SH SOLE 1,883
DISH NET A STOCK 25470M109 2,310 81,116 SH SOLE 2,310
DOLBY LABORATOR COM 25659T107 662 21,707 SH SOLE 662
DOLLAR GENERAL COM 256677105 2,635 64,039 SH SOLE 2,635
DOLLAR TREE COM 256746108 3,805 45,778 SH SOLE 3,805
DOMINION COM 25746U109 10,696 201,506 SH SOLE 10,696
DONNELLEY COM 257867101 941 65,207 SH SOLE 941
DOVER CORP COM 260003108 3,807 65,581 SH SOLE 3,807
DOW CHEMICAL COM 260543103 12,133 418,226 SH SOLE 12,133
DR HORTON COM 23331A109 1,353 107,259 SH SOLE 1,353
DR PEPPER COM 26138E109 3,041 76,409 SH SOLE 3,041
DTE COM 233331107 3,334 60,582 SH SOLE 3,334
DU PONT COM 263534109 15,120 330,284 SH SOLE 15,120
DUKE ENERGY COM 26441C105 10,366 471,202 SH SOLE 10,366
DUKE REALTY COM 264411505 1,186 98,425 SH SOLE 1,186
DUN N BRADSTREET COM 26483E100 1,266 16,921 SH SOLE 1,266
EASTMAN CHEMICAL COM 277432100 1,925 49,284 SH SOLE 1,925
EATON COM 278058102 5,044 115,867 SH SOLE 5,044
EATON VANCE COM 278265103 1,133 47,946 SH SOLE 1,133
EBAY COM 278642103 12,457 410,702 SH SOLE 12,457
ECOLAB COM 278865100 6,277 108,198 SH SOLE 6,277
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------------------------------------------
EDISON COM 281020107 4,656 111,588 SH SOLE 4,656
EDWARDS LIFE COM 28176E108 2,941 41,593 SH SOLE 2,941
EL PASO COM 28336L109 7,338 276,170 SH SOLE 7,338
ELECTRONIC ARTS COM 285512109 2,409 116,926 SH SOLE 2,409
ELI LILLY COM 532457108 15,360 369,582 SH SOLE 15,360
EMC COM 268648102 15,906 738,455 SH SOLE 15,906
EMERSON EL COM 291011104 12,312 264,261 SH SOLE 12,312
ENERGEN CORP COM 29265N108 1,432 28,649 SH SOLE 1,432
ENERGIZER COM 29266R108 1,999 25,797 SH SOLE 1,999
ENTERGY COM 29364G103 4,670 63,924 SH SOLE 4,670
EOG COM 26875P101 9,366 95,076 SH SOLE 9,366
EQT CORP COM 26884L109 2,734 49,898 SH SOLE 2,734
EQUIFAX COM 294429105 1,659 42,824 SH SOLE 1,659
EQUITY RESIDENT COM 29476L107 6,036 104,793 SH SOLE 6,036
ESTEE LAUDER COM 518439104 4,705 41,886 SH SOLE 4,705
EVEREST RE COM G3223R108 1,680 19,978 SH SOLE 1,680
EXELON COM 30161N101 10,173 234,569 SH SOLE 10,173
EXPEDIA COM 30212P303 1,037 35,732.50 SH SOLE 1,037
EXPEDITORS INTL COM 302130109 3,151 76,926 SH SOLE 3,151
EXPRESS SCRIPTS COM 302182100 7,303 163,419 SH SOLE 7,303
EXXON MOBIL COM 30231G102 146,902 1,733,147 SH SOLE 146,902
F5 NETWORKS COM 315616102 3,084 29,066 SH SOLE 3,084
FAMILY DOLLAR COM 307000109 2,481 42,895 SH SOLE 2,481
FASTENAL CO COM 311900104 4,298 98,552 SH SOLE 4,298
FEDERAL REALTY COM 313747206 2,192 23,976 SH SOLE 2,192
FEDEX COM 31428X106 8,870 106,212 SH SOLE 8,870
FIDELITY COM 31620M106 2,308 86,801 SH SOLE 2,308
FIDELITY NAT TIT COM 31620R105 1,292 81,100 SH SOLE 1,292
FIFTH THIRD COM 316773100 4,210 328,895 SH SOLE 4,210
FIRST ENERGY COM 337932107 6,598 148,945 SH SOLE 6,598
FIRST SOLAR COM 336433107 712 21,093 SH SOLE 712
FISERV COM 337738108 2,882 49,059 SH SOLE 2,882
FLEXTRONICS COM Y2573F102 1,553 274,415 SH SOLE 1,553
FLIR SYSTEMS COM 302445101 1,416 56,474 SH SOLE 1,416
FLOWSERVE CORP COM 34354P105 1,990 19,971 SH SOLE 1,990
FLUOR CORP COM 343412102 3,078 61,252 SH SOLE 3,078
FMC CORP COM 302491303 2,171 25,188 SH SOLE 2,171
FMC TECHNOLOGIES COM 30249U101 4,427 84,756 SH SOLE 4,427
FORD COM 345370860 13,428 1,247,916 SH SOLE 13,428
FOREST LABS COM 345838106 2,926 96,694 SH SOLE 2,926
FOSSIL COM 349882100 1,625 20,471 SH SOLE 1,625
FRANKLIN COM 354613101 5,338 55,567 SH SOLE 5,338
FREEPORT MCM COM 35671D857 12,349 335,665 SH SOLE 12,349
FRONTIER COMMUNI COM 35906A108 1,860 361,185 SH SOLE 1,860
GAMESTOP CORP A STOCK 36467W109 1,168 48,397 SH SOLE 1,168
GAP COM 364760108 2,548 136,519 SH SOLE 2,548
GE COM 369604103 68,304 3,777,878 SH SOLE 68,304
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------------------------------------------
GENERAL GROWTH COM 370023103 2,569 169,899 SH SOLE 2,569
GENERAL MILLS COM 370334104 9,247 228,819 SH SOLE 9,247
GENUINE PARTS COM 372460105 3,495 57,114 SH SOLE 3,495
GENWORTH COM 37247D106 1,136 173,491 SH SOLE 1,136
GILEAD COM 375558103 11,178 273,096 SH SOLE 11,178
GM COM 37045V100 6,098 300,834 SH SOLE 6,098
GOLDMAN SACHS COM 38141G104 15,486 171,249 SH SOLE 15,486
GOODRICH COM 382388106 5,463 44,161 SH SOLE 5,463
GOODYEAR COM 382550101 1,207 85,163 SH SOLE 1,207
GOOGLE COM 38259P508 58,557 90,660 SH SOLE 58,557
GRAINGER COM 384802104 4,004 21,390 SH SOLE 4,004
GREEN MOUNTAIN COM 393122106 2,202 49,096 SH SOLE 2,202
HALLIBURTON COM 406216101 11,237 325,627 SH SOLE 11,237
HARLEY DAVIDSON COM 412822108 3,313 85,222 SH SOLE 3,313
HARRIS COM 413875105 1,516 42,057 SH SOLE 1,516
HARTFORD COM 416515104 2,474 152,234 SH SOLE 2,474
HASBRO COM 418056107 1,349 42,296 SH SOLE 1,349
HCA HOLDINGS COM 40412C101 1,442 65,478 SH SOLE 1,442
HCP COM 40414L109 6,052 146,088 SH SOLE 6,052
HEALTH CARE COM 42217K106 3,727 68,343 SH SOLE 3,727
HEINZ CO COM 423074103 6,307 115,685 SH SOLE 6,307
HELMERICH PAYNE COM 423452101 2,231 38,228 SH SOLE 2,231
HENRY SCHEIN COM 806407102 2,320 36,015 SH SOLE 2,320
HERBALIFE COM G4412G101 2,305 44,609 SH SOLE 2,305
HERSHEY COM 427866108 3,652 59,115 SH SOLE 3,652
HERTZ GLOBAL COM 42805T105 1,208 103,072 SH SOLE 1,208
HESS COM 42809H107 6,147 108,219 SH SOLE 6,147
HEWLETT PACKARD COM 428236103 19,098 741,391 SH SOLE 19,098
HOLLYFRONTIER COM 436106108 1,919 82,000 SH SOLE 1,919
HOLOGIC COM 436440101 1,788 102,126 SH SOLE 1,788
HOME DEPOT COM 437076102 23,487 558,684 SH SOLE 23,487
HONEYWELL COM 438516106 14,407 265,076 SH SOLE 14,407
HORMEL FOODS COM 440452100 1,539 52,534 SH SOLE 1,539
HOSPIRA COM 441060100 1,753 57,737 SH SOLE 1,753
HOST HOTELS COM 44107P104 3,644 245,917 SH SOLE 3,644
HUDSON CITY BCP COM 443683107 1,020 163,145 SH SOLE 1,020
HUMANA COM 444859102 5,135 58,450 SH SOLE 5,135
HUNT (J.B.) COM 445658107 1,626 36,087 SH SOLE 1,626
IBM COM 459200101 78,244 425,518 SH SOLE 78,244
IGT COM 459902102 1,845 106,905 SH SOLE 1,845
IHS INC A STOCK 451734107 1,387 16,100 SH SOLE 1,387
ILLUMINA COM 452327109 1,396 45,806 SH SOLE 1,396
INGERSOLL-RAND COM G47791101 3,642 119,543 SH SOLE 3,642
INTEGRYS ENERGY COM 45822P105 1,483 27,364 SH SOLE 1,483
INTEL COM 458140100 45,399 1,872,109 SH SOLE 45,399
INTERCONTXCHANGE COM 45865V100 3,204 26,582 SH SOLE 3,204
INTL FLAVORS COM 459506101 1,515 28,738 SH SOLE 1,515
INTL PAPER COM 460146103 4,321 145,978 SH SOLE 4,321
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
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INTUIT COM 461202103 5,387 102,429 SH SOLE 5,387
INTUITIVE SURGI COM 46120E602 6,386 13,793 SH SOLE 6,386
INVESCO COM G491BT108 3,192 158,909 SH SOLE 3,192
IPG COM 460690100 1,630 167,492 SH SOLE 1,630
IRON MOUNTAIN COM 462846106 1,999 64,379 SH SOLE 1,999
ITW COM 452308109 7,341 155,963 SH SOLE 7,341
JACOBS ENGINEER COM 469814107 1,788 44,054 SH SOLE 1,788
JC PENNY COM 708160106 2,094 59,564 SH SOLE 2,094
JM SMUCKER COM 832696405 3,106 39,737 SH SOLE 3,106
JOHNSON CONTROLS COM 478366107 7,615 243,618 SH SOLE 7,615
JOHNSON JOHNSON COM 478160104 64,049 976,652 SH SOLE 64,049
JOY GLOBAL COM 481165108 2,835 37,817 SH SOLE 2,835
JPM COM 46625H100 46,223 1,390,171 SH SOLE 46,223
JUNIPER COM 48203R104 3,839 188,080 SH SOLE 3,839
KANSAS COM 485170302 2,818 41,433 SH SOLE 2,818
KBR COM 48242W106 1,665 59,648 SH SOLE 1,665
KELLOGG COM 487836108 4,640 91,755 SH SOLE 4,640
KEYCORP COM 493267108 2,562 333,147 SH SOLE 2,562
KIMBERLY-CLARK COM 494368103 10,200 138,663 SH SOLE 10,200
KIMCO REALTY COM 49446R109 2,410 146,695 SH SOLE 2,410
KINDER MORGAN COM 49456B101 1,336 41,523 SH SOLE 1,336
KINDER MORGAN M COM 49455U100 2,681 34,143 SH SOLE 2,681
KLA-TENCOR COM 482480100 2,906 60,237 SH SOLE 2,906
KOHLS COM 500255104 4,637 93,961 SH SOLE 4,637
KRAFT FOODS COM 50075N104 22,483 597,159 SH SOLE 22,483
KROGER COM 501044101 5,009 206,825 SH SOLE 5,009
LAB CORP COM 50540R409 3,065 35,656 SH SOLE 3,065
LAM RESEARCH COM 512807108 1,722 46,525 SH SOLE 1,722
LAS VEGAS SANDS COM 517834107 5,980 139,957 SH SOLE 5,980
LEGG MASON COM 524901105 1,174 48,655 SH SOLE 1,174
LEGGETT N PLATT COM 524660107 1,150 49,294 SH SOLE 1,150
LEUCADIA NTL COM 527288104 1,713 75,348 SH SOLE 1,713
LEVEL3 COM 52729N308 989 58,199 SH SOLE 989
LIBERTY GLOBAL A STOCK 530555101 2,215 53,990 SH SOLE 2,215
LIBERTY GLOBAL C STOCK 530555309 1,754 44,390 SH SOLE 1,754
LIBERTY INTERACT COM 53071M104 3,508 216,354 SH SOLE 3,508
LIBERTY MEDI COM 530322106 3,201 41,013 SH SOLE 3,201
LIBERTY PROPERTY COM 531172104 1,397 44,570 SH SOLE 1,397
LIFE TECHNOLOGIE COM 53217V109 2,530 65,021 SH SOLE 2,530
LIMITED BRANDS COM 532716107 3,614 89,564 SH SOLE 3,614
LINCOLN COM 534187109 2,104 108,318 SH SOLE 2,104
LINEAR TECHNOLOG COM 535678106 2,456 81,771 SH SOLE 2,456
LOEWS COM 540424108 4,307 114,390 SH SOLE 4,307
LORILLARD COM 544147101 5,577 48,923 SH SOLE 5,577
LOWES COM 548661107 11,326 446,252 SH SOLE 11,326
LSI COM 502161102 1,187 199,421 SH SOLE 1,187
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
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LULULEMON COM 550021109 1,774 38,018 SH SOLE 1,774
LYONDELLBASELL COM N53745100 3,601 108,319 SH SOLE 3,601
M N T BANK COM 55261F104 3,045 39,885 SH SOLE 3,045
MACERICH COM 554382101 2,584 51,069 SH SOLE 2,584
MACY COM 55616P104 4,944 153,634 SH SOLE 4,944
MANPOWERGROUP COM 56418H100 1,155 32,308 SH SOLE 1,155
MARATHON OIL COM 565849106 7,484 255,679 SH SOLE 7,484
MARATHON PETR COM 56585A102 4,188 125,809 SH SOLE 4,188
MARRIOTT COM 571903202 2,921 99,793 SH SOLE 2,921
MARRIOTT VACATIO COM 57164Y107 177 10,337 SH SOLE 177
MARSH N MCLENNAN COM 571748102 6,027 190,607 SH SOLE 6,027
MARTIN MARIETTA COM 573284106 1,339 17,760 SH SOLE 1,339
MARVELL TECH COM G5876H105 2,681 193,589 SH SOLE 2,681
MASCO CORP COM 574599106 1,315 125,510 SH SOLE 1,315
MASTERCARD COM 57636Q104 14,356 38,507 SH SOLE 14,356
MATTEL COM 577081102 3,356 120,895 SH SOLE 3,356
MAXIM INTEGRATED COM 57772K101 2,932 112,591 SH SOLE 2,932
MC DONALDS COM 580135101 36,952 368,308 SH SOLE 36,952
MCCORMICK N CO COM 579780206 2,117 41,734 SH SOLE 2,117
MCGRAW-HILL COM 580645109 4,746 105,533 SH SOLE 4,746
MCKESSON COM 58155Q103 6,785 87,085 SH SOLE 6,785
MDU RESOURCES COM 552690109 1,563 72,833 SH SOLE 1,563
MEAD JOHNSON COM 582839106 4,954 72,072 SH SOLE 4,954
MEADWESTVACO COM 583334107 1,804 60,231 SH SOLE 1,804
MEDCO COM 58405U102 7,622 136,347 SH SOLE 7,622
MEDTRONIC COM 585055106 14,397 376,390 SH SOLE 14,397
MERCK N CO COM 589331107 41,884 1,098,746 SH SOLE 41,884
METLIFE COM 59156R108 11,675 374,425 SH SOLE 11,675
METROPCS COMM COM 591708102 861 99,194 SH SOLE 861
MGM RESORTS INT COM 552953101 1,390 133,273 SH SOLE 1,390
MICROCHIP COM 595017104 2,484 67,825 SH SOLE 2,484
MICRON COM 595112103 2,021 321,373 SH SOLE 2,021
MICROSOFT COM 594918104 69,807 2,689,012 SH SOLE 69,807
MOHAWK IND COM 608190104 1,421 23,735 SH SOLE 1,421
MOLSON COORS B STOCK 60871R209 2,477 56,892 SH SOLE 2,477
MONSANTO COM 61166W101 13,410 191,378 SH SOLE 13,410
MONSTER BEVEREGE COM 611740101 2,574 27,932 SH SOLE 2,574
MOODYS COM 615369105 2,425 71,995 SH SOLE 2,425
MORGAN STANLEY COM 617446448 7,723 510,457 SH SOLE 7,723
MOSAIC CO COM 61945C103 5,566 110,365 SH SOLE 5,566
MOTOROLA MOBILIT COM 620097105 3,910 100,780 SH SOLE 3,910
MOTOROLA SOLUT COM 620076307 5,089 109,414 SH SOLE 5,089
MURPHY OIL COM 626717102 3,691 66,223 SH SOLE 3,691
MYLAN LABS COM 628530107 3,221 150,106 SH SOLE 3,221
NABORS IND COM G6359F103 1,775 102,353 SH SOLE 1,775
NASDAQ OMX COM 631103108 1,138 46,432 SH SOLE 1,138
NATIONAL OILWELL COM 637071101 10,198 149,997 SH SOLE 10,198
NETAPP COM 64110D104 4,767 131,422 SH SOLE 4,767
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
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NETFLIX COM 64110L106 1,274 18,390 SH SOLE 1,274
NEW YORK CMNTY B STOCK 649445103 2,082 168,336 SH SOLE 2,082
NEWELL COM 651229106 1,624 100,571 SH SOLE 1,624
NEWFIELD COM 651290108 1,829 48,485 SH SOLE 1,829
NEWMONT MINING COM 651639106 10,500 174,975 SH SOLE 10,500
NEWS CORP A STOCK 65248E104 11,341 635,682 SH SOLE 11,341
NEWS CORP B STOCK 65248E203 2,981 163,998 SH SOLE 2,981
NEXTERA ENERGY COM 65339F101 8,610 141,424 SH SOLE 8,610
NIELSEN HOLDINGS COM N63218106 1,001 33,708 SH SOLE 1,001
NII HOLDINGS COM 62913F201 1,413 66,355 SH SOLE 1,413
NIKE B STOCK 654106103 12,168 126,267 SH SOLE 12,168
NISOURCE COM 65473P105 2,394 100,538 SH SOLE 2,394
NOBLE COM H5833N103 2,757 91,217 SH SOLE 2,757
NOBLE ENERGY COM 655044105 5,890 62,402 SH SOLE 5,890
NORDSTROM COM 655664100 3,009 60,528 SH SOLE 3,009
NORFOLK SOUTHERN COM 655844108 8,969 123,099 SH SOLE 8,969
NORTHEAST COM 664397106 2,293 63,581 SH SOLE 2,293
NORTHERN TRUST COM 665859104 3,108 78,367 SH SOLE 3,108
NORTHROP COM 666807102 5,462 93,396 SH SOLE 5,462
NRG ENERGY COM 629377508 1,526 84,191 SH SOLE 1,526
NSTAR COM 67019E107 1,869 39,800 SH SOLE 1,869
NUANCE COM 67020Y100 2,316 92,046 SH SOLE 2,316
NUCOR COM 670346105 4,549 113,901 SH SOLE 4,549
NVIDIA COM 67066G104 2,907 209,736 SH SOLE 2,907
NYSE EURONEXT COM 629491101 2,462 94,313 SH SOLE 2,462
OCCIDENTAL COM 674599105 27,313 290,074 SH SOLE 27,313
OMNICARE COM 681904108 1,526 44,300 SH SOLE 1,526
OMNICOM COM 681919106 4,534 101,148 SH SOLE 4,534
ONEOK COM 682680103 2,991 34,507 SH SOLE 2,991
ORACLE COM 68389X105 37,071 1,445,244 SH SOLE 37,071
OREILLY COM 686091109 3,848 48,127 SH SOLE 3,848
OWENS-ILLINOIS COM 690768403 1,119 57,750 SH SOLE 1,119
PACCAR COM 693718108 4,317 115,209 SH SOLE 4,317
PALL CORP COM 696429307 2,372 41,507 SH SOLE 2,372
PARKER HANNIFIN COM 701094104 4,172 54,717 SH SOLE 4,172
PARTNERRE COM G6852T105 1,579 24,596 SH SOLE 1,579
PATTERSON COS COM 703395103 1,073 36,336 SH SOLE 1,073
PAYCHEX COM 704326107 3,553 117,989 SH SOLE 3,553
PEABODY ENERGY COM 704549104 3,256 98,333 SH SOLE 3,256
PENTAIR COM 709631105 1,301 39,087 SH SOLE 1,301
PEOPLES UNITED COM 712704105 1,729 134,543 SH SOLE 1,729
PEPCO HOLDINGS COM 713291102 1,634 80,494 SH SOLE 1,634
PEPSICO COM 713448108 37,455 564,511 SH SOLE 37,455
PERRIGO COM 714290103 3,156 32,431 SH SOLE 3,156
PETSMART COM 716768106 2,147 41,861 SH SOLE 2,147
PFIZER COM 717081103 60,181 2,781,026 SH SOLE 60,181
PG N E COM 69331C108 5,922 142,111 SH SOLE 5,922
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
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PHARMASSET COM 71715N106 3,286 25,632 SH SOLE 3,286
PHILIP MORRIS COM 718172109 49,629 626,235 SH SOLE 49,629
PINNACLE WEST COM 723484101 1,878 38,984 SH SOLE 1,878
PIONEER NATURAL COM 723787107 3,371 37,674 SH SOLE 3,371
PITNEY BOWES COM 724479100 1,347 72,680 SH SOLE 1,347
PLAINS EXPLORAT COM 726505100 2,034 55,400 SH SOLE 2,034
PLUM CREEK TIMB COM 729251108 2,131 58,275 SH SOLE 2,131
PNC COM 693475105 10,741 186,247 SH SOLE 10,741
PPG INDUSTRIES COM 693506107 4,682 56,082 SH SOLE 4,682
PPL COM 69351T106 6,061 206,001 SH SOLE 6,061
PRAXAIR COM 74005P104 11,573 108,260 SH SOLE 11,573
PRECISION CASTPA COM 740189105 8,400 50,972 SH SOLE 8,400
PRICELINE.COM COM 741503403 8,245 17,628 SH SOLE 8,245
PRINCIPAL COM 74251V102 2,713 110,296 SH SOLE 2,713
PROCTER N GAMBLE COM 742718109 65,333 979,363 SH SOLE 65,333
PROGRESS COM 743263105 5,859 104,115 SH SOLE 5,859
PROGRESSIVE COM 743315103 4,172 213,823 SH SOLE 4,172
PROLOGICS COM 74340W103 4,633 162,034 SH SOLE 4,633
PRUD FIN USA COM 744320102 8,705 173,684 SH SOLE 8,705
PUBLIC SERVICE COM 744573106 5,996 181,633 SH SOLE 5,996
PUBLIC STORAGE COM 74460D109 6,908 51,379 SH SOLE 6,908
QEP RESOURCES IN COM 74733V100 1,870 63,838 SH SOLE 1,870
QUALCOMM COM 747525103 32,724 598,239 SH SOLE 32,724
QUANTA SERVICES COM 74762E102 1,617 75,070 SH SOLE 1,617
QUEST DIAGN COM 74834L100 3,216 55,384 SH SOLE 3,216
RALCORP HOLDING COM 751028101 1,770 20,696 SH SOLE 1,770
RALPH LAUREN COM 731572101 2,990 21,623 SH SOLE 2,990
RANGE RESOURCES COM 75281A109 3,606 58,221 SH SOLE 3,606
RAYONIER COM 754907103 2,124 47,599 SH SOLE 2,124
RED HAT COM 756577102 2,863 69,328 SH SOLE 2,863
REGENCY CENTERS COM 758849103 1,235 32,815 SH SOLE 1,235
REGIONS FINAN COM 7591EP100 1,897 441,058 SH SOLE 1,897
RENAISSANCERE COM G7496G103 1,402 18,846 SH SOLE 1,402
REPUBLIC SVC COM 760759100 3,041 109,509 SH SOLE 3,041
REYNOLDS AMER COM 761713106 5,130 123,851 SH SOLE 5,130
ROBERT HALF COM 770323103 1,470 51,667 SH SOLE 1,470
ROCK-TENN COM 772739207 1,587 27,500 SH SOLE 1,587
ROCKWELL COM 773903109 3,780 51,517 SH SOLE 3,780
ROCKWELL COLLINS COM 774341101 2,996 54,110 SH SOLE 2,996
ROPER INDUSTRIES COM 776696106 2,929 33,714 SH SOLE 2,929
ROSS STORES COM 778296103 4,036 84,908 SH SOLE 4,036
ROWAN COS COM 779382100 1,368 45,116 SH SOLE 1,368
ROYAL CARIBBEAN COM V7780T103 1,405 56,494 SH SOLE 1,405
SAFEWAY COM 786514208 2,630 124,166 SH SOLE 2,630
SAIC COM 78390X101 1,219 99,177 SH SOLE 1,219
SALESFORCE.COM COM 79466L302 4,623 45,562 SH SOLE 4,623
SANDISK COM 80004C101 4,217 85,684 SH SOLE 4,217
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
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SARA LEE COM 803111103 3,730 195,965 SH SOLE 3,730
SBA COMM COM 78388J106 1,798 41,856 SH SOLE 1,798
SCANA CORP COM 80589M102 1,970 43,717 SH SOLE 1,970
SCHLUMBERGER COM 806857108 33,028 481,745 SH SOLE 33,028
SCRIPPS NETW A STOCK 811065101 1,308 30,841 SH SOLE 1,308
SEALED AIR COM 81211K100 1,032 59,976 SH SOLE 1,032
SEARS HOLDINGS COM 812350106 435 13,691 SH SOLE 435
SEI INVESTMENTS COM 784117103 989 56,506 SH SOLE 989
SEMPRA ENERGY COM 816851109 4,439 80,017 SH SOLE 4,439
SHERWIN-WILLIAMS COM 824348106 2,941 32,946 SH SOLE 2,941
SIGMA ALDRICH COM 826552101 2,638 42,235 SH SOLE 2,638
SIMON PROPERTY COM 828806109 13,403 103,946 SH SOLE 13,403
SIRIUS SATELLITE COM 82967N108 2,639 1,449,872 SH SOLE 2,639
SLM COM 78442P106 2,422 180,709 SH SOLE 2,422
SOUTHERN COM 842587107 14,060 303,735 SH SOLE 14,060
SOUTHWEST AIR COM 844741108 545 63,724 SH SOLE 545
SOUTHWESTERN COM 845467109 3,924 122,852 SH SOLE 3,924
SPECTRA ENERGY COM 847560109 7,069 229,900 SH SOLE 7,069
SPRINT NEXTEL COM 852061100 2,541 1,086,089 SH SOLE 2,541
SPX CORP COM 784635104 1,180 19,585 SH SOLE 1,180
ST JUDE MEDICAL COM 790849103 4,086 118,403 SH SOLE 4,086
STANLEY BLACK D COM 854502101 3,882 57,432 SH SOLE 3,882
STAPLES COM 855030102 3,601 257,404 SH SOLE 3,601
STARBUCKS COM 855244109 12,298 267,283 SH SOLE 12,298
STARWOOD COM 85590A401 3,335 69,520 SH SOLE 3,335
STATE STREET COM 857477103 7,216 178,215 SH SOLE 7,216
STERICYCLE COM 858912108 2,275 29,197 SH SOLE 2,275
STRYKER COM 863667101 5,173 103,623 SH SOLE 5,173
SUNOCO COM 86764P109 1,770 43,138 SH SOLE 1,770
SUNTRUST COM 867914103 3,440 194,368 SH SOLE 3,440
SYMANTEC COM 871503108 4,090 261,328 SH SOLE 4,090
SYNOPSYS COM 871607107 1,465 53,848 SH SOLE 1,465
SYSCO COM 871829107 6,145 209,509 SH SOLE 6,145
T ROWE PRICE COM 74144T108 5,129 90,060 SH SOLE 5,129
TARGET COM 87612E106 11,589 226,257 SH SOLE 11,589
TD AMERITRADE COM 87236Y108 1,408 89,937 SH SOLE 1,408
TE CONNECTIVITY COM H84989104 4,715 153,037 SH SOLE 4,715
TERADATA COM 88076W103 2,940 60,600 SH SOLE 2,940
TEXAS INSTR COM 882508104 11,909 409,089 SH SOLE 11,909
THERMO ELECTRON COM 883556102 6,070 134,976 SH SOLE 6,070
TIFFANY COM 886547108 2,880 43,281 SH SOLE 2,880
TIME WARNER CABL COM 88732J207 7,310 114,996 SH SOLE 7,310
TIME WARNER NEW COM 887317303 13,371 369,984 SH SOLE 13,371
TJX COS COM 872540109 8,725 135,159 SH SOLE 8,725
TOLL BROTHERS COM 889478103 1,132 55,453 SH SOLE 1,132
TORCHMARK COM 891027104 1,596 36,780 SH SOLE 1,596
TOTAL SYSTEM COM 891906109 1,167 59,664 SH SOLE 1,167
TRAVELERS COS COM 89417E109 8,765 148,129 SH SOLE 8,765
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INV. OTHER -------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
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TRIPADVISOR COM 896945201 901 35,732.50 SH SOLE 901
TRW AUTOMOTIVE COM 87264S106 1,314 40,317 SH SOLE 1,314
TYCO INT COM H89128104 7,762 166,179 SH SOLE 7,762
TYSON FOODS A STOCK 902494103 2,154 104,376 SH SOLE 2,154
UAL CORP COM 910047109 560 29,690 SH SOLE 560
ULTRA PETROLEUM COM 903914109 1,762 59,451 SH SOLE 1,762
UNION PACIFIC COM 907818108 18,483 174,463 SH SOLE 18,483
UNITED HEALTH COM 91324P102 19,500 384,758 SH SOLE 19,500
UNITED TECH COM 913017109 22,329 305,505 SH SOLE 22,329
UNUM COM 91529Y106 2,249 106,720 SH SOLE 2,249
UPS COM 911312106 18,836 257,359 SH SOLE 18,836
URBAN OUTFITTERS COM 917047102 1,216 44,127 SH SOLE 1,216
URS CORP COM 903236107 996 28,353 SH SOLE 996
US BANCORP COM 902973304 18,660 686,677 SH SOLE 18,660
US STEEL COM 912909108 1,318 49,828 SH SOLE 1,318
VALERO ENERGY COM 91913Y100 4,251 201,957 SH SOLE 4,251
VARIAN MEDICAL COM 92220P105 2,766 41,209 SH SOLE 2,766
VENTAS COM 92276F100 5,308 96,275 SH SOLE 5,308
VERISIGN COM 92343E102 1,983 55,507 SH SOLE 1,983
VERISK ANALYTICS COM 92345Y106 1,952 48,630 SH SOLE 1,952
VERIZON COM 92343V104 40,509 1,009,688 SH SOLE 40,509
VERTEX PHARMA COM 92532F100 2,604 78,423 SH SOLE 2,604
VF CORP COM 918204108 3,960 31,186 SH SOLE 3,960
VIACOM B STOCK 92553P201 8,347 183,816 SH SOLE 8,347
VIRGIN MEDIA COM 92769L101 2,346 109,736 SH SOLE 2,346
VISA A COM 92826C839 18,941 186,560 SH SOLE 18,941
VMWARE A STOCK 928563402 2,668 32,068 SH SOLE 2,668
VORNADO COM 929042109 4,466 58,103 SH SOLE 4,466
VULCAN COM 929160109 1,816 46,140 SH SOLE 1,816
WAL-MART STORES COM 931142103 40,599 679,370 SH SOLE 40,599
WALGREEN COM 931422109 10,596 320,496 SH SOLE 10,596
WALT DISNEY COM 254687106 23,904 627,398 SH SOLE 23,904
WALTER ENERGY COM 93317Q105 1,449 23,932 SH SOLE 1,449
WARNER CHILCOTT COM G94368100 837 55,349 SH SOLE 837
WASHINGTON POST COM 939640108 617 1,638 SH SOLE 617
WASTE MGMT COM 94106L109 5,280 161,413 SH SOLE 5,280
WATERS COM 941848103 2,443 32,997 SH SOLE 2,443
WATSON PHARMA COM 942683103 2,865 47,485 SH SOLE 2,865
WEATHERFORD COM H27013103 4,176 285,241 SH SOLE 4,176
WELLPOINT COM 94973V107 8,521 128,620 SH SOLE 8,521
WELLS FARGO COM 949746101 49,109 1,781,885 SH SOLE 49,109
WESTERN DIGITAL COM 958102105 2,585 83,537 SH SOLE 2,585
WESTERN UNION COM 959802109 4,085 223,707 SH SOLE 4,085
WEYERHAEUSER COM 962166104 3,627 194,268 SH SOLE 3,627
WHIRLPOOL COM 963320106 1,290 27,197 SH SOLE 1,290
WHITING PETROLEU COM 966387102 2,135 45,736 SH SOLE 2,135
WHOLE FOODS COM 966837106 3,718 53,430 SH SOLE 3,718
WILLIAMS COM 969457100 6,876 208,239 SH SOLE 6,876
WILLIS GROUP COM G96666105 2,454 62,821 SH SOLE 2,454
WINDSTREAM COM 97381W104 2,504 208,836 SH SOLE 2,504
WISCONSIN ENERGY COM 976657106 2,955 84,534 SH SOLE 2,955
WYNN RESORTS COM 983134107 3,246 29,374 SH SOLE 3,246
XCEL ENERGY COM 98389B100 4,773 171,063 SH SOLE 4,773
XEROX COM 984121103 4,067 508,250 SH SOLE 4,067
XILINX COM 983919101 3,025 94,356 SH SOLE 3,025
XYLEM COM 98419M100 1,617 62,939 SH SOLE 1,617
YAHOO COM 984332106 6,815 422,502 SH SOLE 6,815
YUM BRANDS COM 988498101 9,832 166,622 SH SOLE 9,832
ZIMMER COM 98956P102 3,601 67,415 SH SOLE 3,601