| 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 |
| AT&T Inc. (T) | COM | 00206R102 | 2,037,000 | 57,600 | SH | | SOLE | | 0 | 0 | 57,600 |
| Activision Blizzard (ATVI) | COM | 00507V109 | 14,400,000 | 645,750 | SH | | SOLE | | 206,750 | 0 | 439,000 |
| Altera Corporation (ALTR) | COM | 021441100 | 9,427,000 | 271,200 | SH | | SOLE | | 112,500 | 0 | 158,700 |
| American Waterworks (AWK) | COM | 030420103 | 7,919,000 | 160,150 | SH | | SOLE | | 63,400 | 0 | 96,750 |
| Ameriprise Financial Inc. (AMP) | COM | 03076C106 | 14,130,000 | 117,750 | SH | | SOLE | | 38,750 | 0 | 79,000 |
| Anadarko Petroleum Corp. (APC) | COM | 032511107 | 14,144,000 | 129,200 | SH | | SOLE | | 42,100 | 0 | 87,100 |
| Apple Computer Inc (AAPL) | COM | 037833100 | 36,435,000 | 392,070 | SH | | SOLE | | 168,000 | 0 | 224,070 |
| AutoZone Inc. (AZO) | COM | 053332102 | 9,062,000 | 16,900 | SH | | SOLE | | 1,700 | 0 | 15,200 |
| BE Aerospace (BEAV) | COM | 073302101 | 9,980,000 | 107,900 | SH | | SOLE | | 43,550 | 0 | 64,350 |
| Berkshire Hathaway Inc. (BRK/B) | COM | 084670702 | 15,516,000 | 122,600 | SH | | SOLE | | 30,800 | 0 | 91,800 |
| Blackstone Group LP (BX) | COM UNIT LTD | 09253U108 | 8,225,000 | 245,950 | SH | | SOLE | | 95,850 | 0 | 150,100 |
| Borg Warner (BWA) | COM | 099724106 | 11,858,000 | 181,900 | SH | | SOLE | | 71,700 | 0 | 110,200 |
| Bristol-Myers Squibb Co. (BMY) | COM | 110122108 | 1,019,000 | 21,000 | SH | | SOLE | | 21,000 | 0 | 0 |
| CVS / Caremark Corp (CVS) | COM | 126650100 | 17,953,000 | 238,195 | SH | | SOLE | | 90,005 | 0 | 148,190 |
| Cameron International (CAM) | COM | 13342B105 | 9,320,000 | 137,650 | SH | | SOLE | | 56,750 | 0 | 80,900 |
| Capital One Financial Corp. (COF) | CL B | 14040H105 | 16,198,000 | 196,100 | SH | | SOLE | | 63,200 | 0 | 132,900 |
| Cardinal Health Inc. (CAH) | COM | 14149Y108 | 1,008,000 | 14,700 | SH | | SOLE | | 14,700 | 0 | 0 |
| Cerner Corp (CERN) | COM | 156782104 | 11,126,000 | 215,700 | SH | | SOLE | | 70,350 | 0 | 145,350 |
| Church & Dwight Co. Inc. (CHD) | COM | 171340102 | 857,000 | 12,250 | SH | | SOLE | | 12,250 | 0 | 0 |
| Citigroup Inc. (C) | COM | 172967424 | 10,492,000 | 222,750 | SH | | SOLE | | 0 | 0 | 222,750 |
| Colgate-Palmolive Co. (CL) | COM | 194162103 | 1,084,000 | 15,900 | SH | | SOLE | | 15,900 | 0 | 0 |
| Conoco Phillips (COP) | COM | 20825C104 | 11,059,000 | 129,000 | SH | | SOLE | | 55,500 | 0 | 73,500 |
| Dr. Pepper Snapple Group, Inc. (DPS) | COM | 26138E109 | 10,161,000 | 173,450 | SH | | SOLE | | 67,450 | 0 | 106,000 |
| EOG Resources Inc. (EOG) | COM | 26875P101 | 1,215,000 | 10,400 | SH | | SOLE | | 10,400 | 0 | 0 |
| Eaton Corp. (ETN) | COM | G29183103 | 11,403,000 | 147,750 | SH | | SOLE | | 52,050 | 0 | 95,700 |
| Ecolab Inc (ECL) | COM | 278865100 | 5,290,000 | 47,510 | SH | | SOLE | | 5,710 | 0 | 41,800 |
| Electronic Arts (EA) | COM | 285512109 | 847,000 | 23,600 | SH | | SOLE | | 23,600 | 0 | 0 |
| Express Scripts Hldg Co (ESRX) | COM | 30219G108 | 8,060,000 | 116,250 | SH | | SOLE | | 15,350 | 0 | 100,900 |
| Exxon Mobil Corporation (XOM) | COM | 30231G102 | 20,224,000 | 200,870 | SH | | SOLE | | 84,270 | 0 | 116,600 |
| FleetCor Technologies Inc (FLT) | COM | 339041105 | 11,124,000 | 84,400 | SH | | SOLE | | 31,850 | 0 | 52,550 |
| Gilead Sciences Inc. (GILD) | COM | 375558103 | 20,545,000 | 247,800 | SH | | SOLE | | 97,000 | 0 | 150,800 |
| Google - A (GOOGL) | CL A | 38259P508 | 14,687,000 | 25,120 | SH | | SOLE | | 10,520 | 0 | 14,600 |
| Google - C W/I (GOOG) | CL C | 38259P706 | 9,515,000 | 16,540 | SH | | SOLE | | 1,940 | 0 | 14,600 |
| HCA Holdings INC (HCA) | COM | 40412C101 | 3,253,000 | 57,700 | SH | | SOLE | | 57,700 | 0 | 0 |
| Home Depot Inc. (HD) | COM | 437076102 | 11,565,000 | 142,850 | SH | | SOLE | | 61,600 | 0 | 81,250 |
| Honeywell International Inc. (HON) | CL A | 438516106 | 17,814,000 | 191,650 | SH | | SOLE | | 67,650 | 0 | 124,000 |
| Johnson & Johnson (JNJ) | COM | 478160104 | 17,801,000 | 170,150 | SH | | SOLE | | 81,150 | 0 | 89,000 |
| Kimberly-Clark (KMB) | COM | 494368103 | 9,982,000 | 89,750 | SH | | SOLE | | 30,900 | 0 | 58,850 |
| Lazard Ltd. (LAZ) | SHS A | G54050102 | 4,542,000 | 88,100 | SH | | SOLE | | 37,100 | 0 | 51,000 |
| Marathon Petroleum Corp (MPC) | COM | 56585A102 | 4,626,000 | 59,250 | SH | | SOLE | | 5,850 | 0 | 53,400 |
| McKesson Corp (MCK) | COM | 58155Q103 | 15,670,000 | 84,150 | SH | | SOLE | | 26,200 | 0 | 57,950 |
| Microchip Tech. (MCHP) | COM | 595017104 | 12,871,000 | 263,700 | SH | | SOLE | | 98,500 | 0 | 165,200 |
| Microsoft Corp. (MSFT) | COM | 594918104 | 27,756,000 | 665,600 | SH | | SOLE | | 248,600 | 0 | 417,000 |
| Occidental Petroleum Corporation (OXY) | COM | 674599105 | 9,129,000 | 88,950 | SH | | SOLE | | 44,800 | 0 | 44,150 |
| Oracle Corporation (ORCL) | COM | 68389X105 | 713,000 | 17,600 | SH | | SOLE | | 17,600 | 0 | 0 |
| PPG Industries Inc. (PPG) | COM | 693506107 | 10,644,000 | 50,650 | SH | | SOLE | | 21,100 | 0 | 29,550 |
| Packaging Corp of America 695156109 (PKG) | COM | 695156109 | 8,650,000 | 121,000 | SH | | SOLE | | 51,200 | 0 | 69,800 |
| Pfizer Inc. (PFE) | COM | 717081103 | 15,233,000 | 513,250 | SH | | SOLE | | 65,400 | 0 | 447,850 |
| Powershares QQQ ETF (QQQ) | UNIT SER 1 | 73935A104 | 5,165,000 | 55,000 | SH | | SOLE | | 0 | 0 | 55,000 |
| PriceLine.com Inc. (PCLN) | COM NEW | 741503403 | 15,338,000 | 12,750 | SH | | SOLE | | 4,750 | 0 | 8,000 |
| Procter & Gamble Co. (PG) | COM | 742718109 | 14,480,000 | 184,250 | SH | | SOLE | | 21,500 | 0 | 162,750 |
| Prudential Financial Inc. (PRU) | COM | 744320102 | 14,549,000 | 163,900 | SH | | SOLE | | 56,600 | 0 | 107,300 |
| Rockwood Holdings, Inc. (ROC) | COM | 774415103 | 8,006,000 | 105,350 | SH | | SOLE | | 41,300 | 0 | 64,050 |
| Ryder System Inc (R) | COM | 783549108 | 8,197,000 | 93,050 | SH | | SOLE | | 32,250 | 0 | 60,800 |
| SPDR S&P Bank ETF (KBE) | S&P BK ETF | 78464A797 | 8,657,000 | 259,050 | SH | | SOLE | | 42,450 | 0 | 216,600 |
| SPDR Trust Series 1 Index Fund (SPY) | TR UNIT | 78462F103 | 52,032,000 | 265,850 | SH | | SOLE | | 56,250 | 0 | 209,600 |
| Sandisk Corp. (SNDK) | COM | 80004C101 | 15,059,000 | 144,200 | SH | | SOLE | | 57,000 | 0 | 87,200 |
| Schlumberger Ltd. (SLB) | COM | 806857108 | 21,231,000 | 180,000 | SH | | SOLE | | 64,400 | 0 | 115,600 |
| Skyworks Solutions Inc. (SWKS) | COM | 83088M102 | 1,315,000 | 28,000 | SH | | SOLE | | 28,000 | 0 | 0 |
| Terex Corp. (TEX) | COM | 880779103 | 7,213,000 | 175,500 | SH | | SOLE | | 61,550 | 0 | 113,950 |
| Tesla Motors (TSLA) | COM | 88160R101 | 12,243,000 | 51,000 | SH | | SOLE | | 21,000 | 0 | 30,000 |
| The Walt Disney Co. (DIS) | COM DISNEY | 254687106 | 17,641,000 | 205,750 | SH | | SOLE | | 71,850 | 0 | 133,900 |
| Time Warner Inc. (TWX) | COM NEW | 887317303 | 11,482,000 | 163,450 | SH | | SOLE | | 65,800 | 0 | 97,650 |
| United Rentals (URI) | COM | 911363109 | 14,374,000 | 137,250 | SH | | SOLE | | 43,450 | 0 | 93,800 |
| United Technologies (UTX) | COM | 913017109 | 10,362,000 | 89,750 | SH | | SOLE | | 31,550 | 0 | 58,200 |
| Utilities Select Sector SPDR (XLU) | SBI INT-UTILS | 81369Y886 | 8,073,000 | 182,400 | SH | | SOLE | | 0 | 0 | 182,400 |
| Verizon Communications (VZ) | COM | 92343V104 | 9,792,000 | 200,120 | SH | | SOLE | | 0 | 0 | 200,120 |
| Wal-Mart Stores Inc. (WMT) | COM | 931142103 | 5,229,000 | 69,650 | SH | | SOLE | | 9,150 | 0 | 60,500 |
| Wells Fargo Company (WFC) | COM | 949746101 | 22,921,000 | 436,100 | SH | | SOLE | | 138,100 | 0 | 298,000 |
