The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M COM 88579Y101 32,411 226,270 SH   SOLE NONE 110,000 0 116,270
ABBOTT LABORATORIES COM 002824100 125,582 3,070,460 SH   SOLE NONE 2,222,700 0 847,760
ABBVIE COM 00287Y109 7,140 126,500 SH   SOLE NONE 0 0 126,500
ABERCROMBIE & FITCH COM 002896207 129 2,990 SH   SOLE NONE 0 0 2,990
ADT CALL COM 00101J906 5,241 1,500 SH Call SOLE NONE 0 0 0
AMGEN COM 031162100 89,754 758,250 SH   SOLE NONE 505,600 0 252,650
APPLE COM 037833100 24,399 262,549 SH   SOLE NONE 105,000 0 157,549
BAXTER INTERNATIONAL COM 071813109 115,671 1,599,875 SH   SOLE NONE 1,174,200 0 425,675
BERKSHIRE HATHAWAY A COM 084670108 380 2 SH   SOLE NONE 0 0 2
BERKSHIRE HATHAWAY B COM 084670702 121,700 961,600 SH   SOLE NONE 885,200 0 76,400
CELGENE COM 151020104 137 1,600 SH   SOLE NONE 0 0 1,600
CHEVRON COM 166764100 42,128 322,700 SH   SOLE NONE 318,000 0 4,700
CISCO SYSTEMS COM 17275R102 77,450 3,116,720 SH   SOLE NONE 862,000 0 2,254,720
COACH COM 189754104 20,215 591,250 SH   SOLE NONE 60,000 0 531,250
COCA COLA CALL COM 191216900 10,590 2,500 SH Call SOLE NONE 0 0 0
COCA-COLA COM 191216100 257,371 6,075,800 SH   SOLE NONE 4,712,500 0 1,363,300
COLGATE-PALMOLIVE COM 194162103 3,409 50,000 SH   SOLE NONE 5,000 0 45,000
CONOCOPHILLIPS COM 20825C104 16,014 186,800 SH   SOLE NONE 0 0 186,800
DEERE & CO. COM 244199105 41 450 SH   SOLE NONE 0 0 450
DILLARDS COM 254067101 1,982 17,000 SH   SOLE NONE 17,000 0 0
EBAY COM 278642103 220,932 4,413,350 SH   SOLE NONE 2,901,900 0 1,511,450
ELI LILLY COM 532457108 154 2,480 SH   SOLE NONE 0 0 2,480
EMC COM 268648102 18,871 716,440 SH   SOLE NONE 60,000 0 656,440
EMERSON ELECTRIC COM 291011104 113,526 1,710,761 SH   SOLE NONE 1,071,561 0 639,200
EXELON COM 30161N101 140 3,830 SH   SOLE NONE 0 0 3,830
EXXON MOBIL COM 30231G102 43,974 436,770 SH   SOLE NONE 103,700 0 333,070
GENERAL ELECTRIC COM 369604103 263 10,000 SH   SOLE NONE 0 0 10,000
GILEAD SCIENCES COM 375558103 249 3,000 SH   SOLE NONE 0 0 3,000
GOOGLE - CLASS A COM 38259P508 70,836 121,155 SH   SOLE NONE 90,370 0 30,785
GOOGLE - CLASS C COM 38259P706 4,041 7,025 SH   SOLE NONE 3,000 0 4,025
HALLIBURTON COM 406216101 140 2,000 SH   SOLE NONE 0 0 2,000
IBM COM 459200101 140,967 777,665 SH   SOLE NONE 415,130 0 362,535
INTEL COM 458140100 1,080 34,950 SH   SOLE NONE 0 0 34,950
JOHNSON & JOHNSON COM 478160104 167,308 1,599,200 SH   SOLE NONE 1,027,070 0 572,130
KELLOGG COM 487836108 36,779 559,808 SH   SOLE NONE 392,128 0 167,680
KOHL`S COM 500255104 108 2,050 SH   SOLE NONE 0 0 2,050
L BRANDS COM 501797104 40,264 686,400 SH   SOLE NONE 446,400 0 240,000
LEGG MASON COM 524901105 96 1,870 SH   SOLE NONE 0 0 1,870
LULULEMON ATHLETICA COM 550021109 405 10,000 SH   SOLE NONE 0 0 10,000
MASTERCARD COM 57636Q104 16,843 229,250 SH   SOLE NONE 0 0 229,250
MCDONALDS COM 580135101 150,858 1,497,494 SH   SOLE NONE 1,018,734 0 478,760
MEAD JOHNSON NUTRITION COM 582839106 280 3,000 SH   SOLE NONE 0 0 3,000
MEDTRONIC COM 585055106 102,615 1,609,401 SH   SOLE NONE 715,730 0 893,671
MERCK & CO. COM 58933Y105 159 2,750 SH   SOLE NONE 0 0 2,750
MICRON TECHNOLOGY COM 595112103 2,307 70,000 SH   SOLE NONE 70,000 0 0
MICROSOFT COM 594918104 245,135 5,878,545 SH   SOLE NONE 3,384,200 0 2,494,345
MONDELEZ INT. COM 609207105 6,394 170,000 SH   SOLE NONE 0 0 170,000
NASDAQ OMX GROUP COM 631103108 79 2,040 SH   SOLE NONE 0 0 2,040
NATIONAL OILWELL VARCO COM 637071101 128,305 1,558,050 SH   SOLE NONE 1,104,250 0 453,800
NEWMONT MINING COM 651639106 15,961 627,380 SH   SOLE NONE 59,000 0 568,380
NOW COM 67011P100 2,580 71,250 SH   SOLE NONE 3,750 0 67,500
NUANCE COMMUNICATIONS COM 67020Y100 3,472 185,000 SH   SOLE NONE 100,000 0 85,000
NVIDIA COM 67066G104 148 8,000 SH   SOLE NONE 0 0 8,000
OCCIDENTAL PETROLEUM COM 674599105 831 8,100 SH   SOLE NONE 0 0 8,100
ORACLE COM 68389X105 60,652 1,496,460 SH   SOLE NONE 267,500 0 1,228,960
PEPSICO COM 713448108 70,624 790,510 SH   SOLE NONE 671,200 0 119,310
PETSMART COM 716768106 274,315 4,587,207 SH   SOLE NONE 3,848,947 0 738,260
PFIZER COM 717081103 60,541 2,039,800 SH   SOLE NONE 647,200 0 1,392,600
PHILIP MORRIS INTL. COM 718172109 64,067 759,900 SH   SOLE NONE 757,750 0 2,150
PHILLIPS 66 COM 718546104 2,413 30,000 SH   SOLE NONE 0 0 30,000
PROCTER & GAMBLE COM 742718109 168,288 2,141,340 SH   SOLE NONE 1,841,700 0 299,640
QUALCOMM COM 747525103 212,163 2,678,830 SH   SOLE NONE 1,762,400 0 916,430
ROSS STORES COM 778296103 47,667 720,800 SH   SOLE NONE 593,100 0 127,700
SCHLUMBERGER COM 806857108 1,404 11,900 SH   SOLE NONE 0 0 11,900
STAPLES COM 855030102 211 19,470 SH   SOLE NONE 0 0 19,470
STRYKER COM 863667101 19,562 232,000 SH   SOLE NONE 156,000 0 76,000
TERADATA CORP COM 88076W103 117 2,920 SH   SOLE NONE 0 0 2,920
THERMO FISHER SCIENTIFIC COM 883556102 1,987 16,840 SH   SOLE NONE 0 0 16,840
UNION PACIFIC COM 907818108 20,947 210,000 SH   SOLE NONE 0 0 210,000
UNITED TECHNOLOGIES COM 913017109 4,122 35,700 SH   SOLE NONE 29,500 0 6,200
VERIZON COMMUNICATIONS COM 92343V104 4,890 99,940 SH   SOLE NONE 52,600 0 47,340
WAL-MART STORES COM 931142103 99,655 1,327,490 SH   SOLE NONE 1,241,000 0 86,490
WESTERN DIGITAL COM 958102105 16,033 173,700 SH   SOLE NONE 45,000 0 128,700
WESTERN UNION COM 959802109 35,502 2,047,430 SH   SOLE NONE 280,000 0 1,767,430
XEROX COM 984121103 38,013 3,055,739 SH   SOLE NONE 617,900 0 2,437,839
YAHOO! COM 984332106 142,861 4,066,643 SH   SOLE NONE 3,777,843 0 288,800
YUM! BRANDS COM 988498101 1,035 12,750 SH   SOLE NONE 0 0 12,750
ZIMMER HOLDINGS COM 98956P102 10,386 100,000 SH   SOLE NONE 55,000 0 45,000
SPDR GOLD TRUST GOLD SHS 78463V107 3,841 30,000 SH   SOLE NONE 0 0 0
0,500% TOLL BROTHERS 15.09.2032 NOTE 88947EAM2 6,383 6,000,000 PRN   SOLE NONE 0 0 0
1,625% NEWMONT MINING 15.07.2017 NOTE 651639AJ5 9,060 8,500,000 PRN   SOLE NONE 0 0 0
1,625% RTI INTL METALS 15.10.2019 NOTE 74973WAB3 2,006 2,000,000 PRN   SOLE NONE 0 0 0
2,250% TIBCO SOFTWARE 01.05.2032 NOTE 88632QAB9 2,544 2,500,000 PRN   SOLE NONE 0 0 0
2,750% NUANCE 01.11.2031 NOTE 67020YAF7 9,589 9,500,000 PRN   SOLE NONE 0 0 0
2,950% INTEL 15.12.2035 NOTE 458140AD2 8,729 7,000,000 PRN   SOLE NONE 0 0 0