Historical Stock Holdings

Tweedy Browne Co. - Tweedy Browne Value

PeriodPortfolio ValueTop 20 holdings history (left to right)
2017   Q3$537 M HKHHF
Heineken Holding NV
5.20% of portfolio
WFC
Wells Fargo
4.49% of portfolio
RDS.A
Royal Dutch Shell PLC
4.31% of portfolio
TOT
Total SA
4.11% of portfolio
BRK.A
Berkshire Hathaway CL A
4.09% of portfolio
NVS
Novartis AG
4.06% of portfolio
BK
Bank of New York
3.88% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.80% of portfolio
NSRGY
Nestle
3.72% of portfolio
MMM
3M Co.
3.69% of portfolio
DEO
Diageo plc
3.53% of portfolio
CMCSA
Comcast Corp.
3.30% of portfolio
CSCO
Cisco Systems
3.30% of portfolio
JNJ
Johnson & Johnson
3.11% of portfolio
MA
Mastercard Inc.
2.68% of portfolio
NWLI
National Western Life Insurance
2.39% of portfolio
BIDU
Baidu Inc.
2.29% of portfolio
HYMLF
Hyundai Motor Co.
2.25% of portfolio
UL
Unilever PLC
2.21% of portfolio
ZFSVF
Zurich Insurance Group AG
2.18% of portfolio
2017   Q2$507 M HKHHF
Heineken Holding NV
5.36% of portfolio
WFC
Wells Fargo
4.78% of portfolio
NVS
Novartis AG
4.18% of portfolio
NSRGY
Nestle
4.09% of portfolio
BRK.A
Berkshire Hathaway CL A
4.02% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.01% of portfolio
RDS.A
Royal Dutch Shell PLC
4.00% of portfolio
TOT
Total SA
4.00% of portfolio
BK
Bank of New York
3.96% of portfolio
MMM
3M Co.
3.88% of portfolio
CMCSA
Comcast Corp.
3.53% of portfolio
DEO
Diageo plc
3.39% of portfolio
JNJ
Johnson & Johnson
3.35% of portfolio
CSCO
Cisco Systems
3.26% of portfolio
HYMLF
Hyundai Motor Co.
2.53% of portfolio
MA
Mastercard Inc.
2.44% of portfolio
NWLI
National Western Life Insurance
2.32% of portfolio
ZFSVF
Zurich Insurance Group AG
2.21% of portfolio
UL
Unilever PLC
2.19% of portfolio
BAX
Baxter International Inc.
2.04% of portfolio
2017   Q1$489 M WFC
Wells Fargo
4.98% of portfolio
HKHHF
Heineken Holding NV
4.85% of portfolio
TOT
Total SA
4.27% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.17% of portfolio
RDS.A
Royal Dutch Shell PLC
4.12% of portfolio
BRK.A
Berkshire Hathaway CL A
4.09% of portfolio
NVS
Novartis AG
3.87% of portfolio
BK
Bank of New York
3.80% of portfolio
NSRGY
Nestle
3.74% of portfolio
MMM
3M Co.
3.70% of portfolio
CSCO
Cisco Systems
3.65% of portfolio
CMCSA
Comcast Corp.
3.54% of portfolio
DEO
Diageo plc
3.39% of portfolio
JNJ
Johnson & Johnson
3.27% of portfolio
HYMLF
Hyundai Motor Co.
2.65% of portfolio
MA
Mastercard Inc.
2.35% of portfolio
NWLI
National Western Life Insurance
2.29% of portfolio
ZFSVF
Zurich Insurance Group AG
2.10% of portfolio
UL
Unilever PLC
2.07% of portfolio
HENKY
Henkel KGAA
1.92% of portfolio
2016   Q4$460 M WFC
Wells Fargo
5.23% of portfolio
TOT
Total SA
4.59% of portfolio
HKHHF
Heineken Holding NV
4.50% of portfolio
BRK.A
Berkshire Hathaway CL A
4.24% of portfolio
BK
Bank of New York
4.05% of portfolio
NVS
Novartis AG
4.03% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.97% of portfolio
RDS.A
Royal Dutch Shell PLC
3.88% of portfolio
NSRGY
Nestle
3.71% of portfolio
MMM
3M Co.
3.67% of portfolio
CSCO
Cisco Systems
3.46% of portfolio
CMCSA
Comcast Corp.
3.45% of portfolio
DEO
Diageo plc
3.24% of portfolio
JNJ
Johnson & Johnson
3.21% of portfolio
DVN
Devon Energy Corp.
2.84% of portfolio
NWLI
National Western Life Insurance
2.49% of portfolio
ZFSVF
Zurich Insurance Group AG
2.30% of portfolio
MA
Mastercard Inc.
2.29% of portfolio
HYMLF
Hyundai Motor Co.
2.28% of portfolio
MRC
MRC Global Inc.
2.15% of portfolio
2016   Q3$472 M HKHHF
Heineken Holding NV
5.05% of portfolio
NVS
Novartis AG
4.25% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.20% of portfolio
TOT
Total SA
4.13% of portfolio
WFC
Wells Fargo
4.10% of portfolio
NSRGY
Nestle
3.99% of portfolio
BRK.A
Berkshire Hathaway CL A
3.67% of portfolio
CSCO
Cisco Systems
3.55% of portfolio
MMM
3M Co.
3.53% of portfolio
DEO
Diageo plc
3.53% of portfolio
JNJ
Johnson & Johnson
3.45% of portfolio
RDS.A
Royal Dutch Shell PLC
3.44% of portfolio
BK
Bank of New York
3.32% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.23% of portfolio
CMCSA
Comcast Corp.
3.23% of portfolio
DVN
Devon Energy Corp.
2.68% of portfolio
HYMLF
Hyundai Motor Co.
2.26% of portfolio
MA
Mastercard Inc.
2.20% of portfolio
HAL
Halliburton Co.
2.19% of portfolio
ZFSVF
Zurich Insurance Group AG
2.10% of portfolio
2016   Q2$470 M HKHHF
Heineken Holding NV
5.14% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.47% of portfolio
NVS
Novartis AG
4.45% of portfolio
WFC
Wells Fargo
4.40% of portfolio
TOT
Total SA
4.22% of portfolio
NSRGY
Nestle
3.92% of portfolio
RDS.A
Royal Dutch Shell PLC
3.80% of portfolio
BRK.A
Berkshire Hathaway CL A
3.69% of portfolio
JNJ
Johnson & Johnson
3.56% of portfolio
MMM
3M Co.
3.52% of portfolio
DEO
Diageo plc
3.45% of portfolio
BK
Bank of New York
3.25% of portfolio
CSCO
Cisco Systems
3.22% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.19% of portfolio
CMCSA
Comcast Corp.
3.19% of portfolio
HENKY
Henkel KGAA
3.04% of portfolio
HAL
Halliburton Co.
2.97% of portfolio
DVN
Devon Energy Corp.
2.21% of portfolio
HYMLF
Hyundai Motor Co.
2.17% of portfolio
UL
Unilever PLC
2.09% of portfolio
2016   Q1$465 M HKHHF
Heineken Holding NV
4.99% of portfolio
WFC
Wells Fargo
4.55% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.24% of portfolio
TOT
Total SA
4.04% of portfolio
NVS
Novartis AG
3.98% of portfolio
NSRGY
Nestle
3.82% of portfolio
BRK.A
Berkshire Hathaway CL A
3.67% of portfolio
MMM
3M Co.
3.39% of portfolio
RDS.A
Royal Dutch Shell PLC
3.34% of portfolio
DEO
Diageo plc
3.33% of portfolio
CSCO
Cisco Systems
3.23% of portfolio
JNJ
Johnson & Johnson
3.21% of portfolio
BK
Bank of New York
3.11% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.02% of portfolio
CMCSA
Comcast Corp.
3.02% of portfolio
HENKY
Henkel KGAA
2.81% of portfolio
HYMLF
Hyundai Motor Co.
2.49% of portfolio
HAL
Halliburton Co.
2.37% of portfolio
MA
Mastercard Inc.
2.07% of portfolio
UL
Unilever PLC
1.99% of portfolio
2015   Q4$491 M JNJ
Johnson & Johnson
5.15% of portfolio
WFC
Wells Fargo
4.84% of portfolio
HKHHF
Heineken Holding NV
4.67% of portfolio
NVS
Novartis AG
4.49% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.49% of portfolio
TOT
Total SA
3.75% of portfolio
NSRGY
Nestle
3.61% of portfolio
BK
Bank of New York
3.30% of portfolio
BRK.A
Berkshire Hathaway CL A
3.22% of portfolio
DEO
Diageo plc
3.19% of portfolio
RDS.A
Royal Dutch Shell PLC
2.98% of portfolio
CSCO
Cisco Systems
2.92% of portfolio
MMM
3M Co.
2.90% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
2.64% of portfolio
CMCSA
Comcast Corp.
2.64% of portfolio
HENKY
Henkel KGAA
2.60% of portfolio
SCBFF
Standard Chartered PLC
2.57% of portfolio
HYMLF
Hyundai Motor Co.
2.24% of portfolio
HAL
Halliburton Co.
2.13% of portfolio
ZFSVF
Zurich Insurance Group AG
2.02% of portfolio
2015   Q3$482 M NVS
Novartis AG
5.58% of portfolio
JNJ
Johnson & Johnson
4.77% of portfolio
WFC
Wells Fargo
4.66% of portfolio
HKHHF
Heineken Holding NV
4.38% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.35% of portfolio
TOT
Total SA
3.77% of portfolio
NSRGY
Nestle
3.71% of portfolio
BRK.A
Berkshire Hathaway CL A
3.24% of portfolio
DEO
Diageo plc
3.21% of portfolio
BK
Bank of New York
3.19% of portfolio
RDS.A
Royal Dutch Shell PLC
3.13% of portfolio
CSCO
Cisco Systems
2.87% of portfolio
SCBFF
Standard Chartered PLC
2.85% of portfolio
MMM
3M Co.
2.78% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
2.73% of portfolio
CMCSA
Comcast Corp.
2.73% of portfolio
HENKY
Henkel KGAA
2.43% of portfolio
HAL
Halliburton Co.
2.26% of portfolio
DVN
Devon Energy Corp.
2.20% of portfolio
ZFSVF
Zurich Insurance Group AG
1.95% of portfolio
2015   Q2$530 M NVS
Novartis AG
5.67% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.91% of portfolio
WFC
Wells Fargo
4.64% of portfolio
JNJ
Johnson & Johnson
4.53% of portfolio
SCBFF
Standard Chartered PLC
4.28% of portfolio
HKHHF
Heineken Holding NV
3.93% of portfolio
TOT
Total SA
3.72% of portfolio
RDS.A
Royal Dutch Shell PLC
3.35% of portfolio
NSRGY
Nestle
3.24% of portfolio
DVN
Devon Energy Corp.
3.22% of portfolio
DEO
Diageo plc
3.15% of portfolio
BK
Bank of New York
3.11% of portfolio
BRK.A
Berkshire Hathaway CL A
3.09% of portfolio
MMM
3M Co.
2.75% of portfolio
CSCO
Cisco Systems
2.74% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
2.60% of portfolio
CMCSA
Comcast Corp.
2.60% of portfolio
HAL
Halliburton Co.
2.50% of portfolio
HENKY
Henkel KGAA
2.39% of portfolio
BAX
Baxter International Inc.
2.34% of portfolio
2015   Q1$525 M NVS
Novartis AG
5.74% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.87% of portfolio
JNJ
Johnson & Johnson
4.72% of portfolio
WFC
Wells Fargo
4.53% of portfolio
SCBFF
Standard Chartered PLC
4.18% of portfolio
HKHHF
Heineken Holding NV
3.90% of portfolio
TOT
Total SA
3.84% of portfolio
RDS.A
Royal Dutch Shell PLC
3.52% of portfolio
NSRGY
Nestle
3.41% of portfolio
BRK.A
Berkshire Hathaway CL A
3.32% of portfolio
DVN
Devon Energy Corp.
3.29% of portfolio
DEO
Diageo plc
3.02% of portfolio
BK
Bank of New York
3.01% of portfolio
MMM
3M Co.
2.97% of portfolio
CSCO
Cisco Systems
2.77% of portfolio
HENKY
Henkel KGAA
2.61% of portfolio
HAL
Halliburton Co.
2.57% of portfolio
ZFSVF
Zurich Insurance Group AG
2.48% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
2.46% of portfolio
CMCSA
Comcast Corp.
2.46% of portfolio
2014   Q4$525 M NVS
Novartis AG
5.39% of portfolio
JNJ
Johnson & Johnson
4.90% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.79% of portfolio
WFC
Wells Fargo
4.56% of portfolio
TOT
Total SA
3.97% of portfolio
RDS.A
Royal Dutch Shell PLC
3.94% of portfolio
SCBFF
Standard Chartered PLC
3.86% of portfolio
HKHHF
Heineken Holding NV
3.55% of portfolio
BRK.A
Berkshire Hathaway CL A
3.44% of portfolio
DVN
Devon Energy Corp.
3.34% of portfolio
NSRGY
Nestle
3.31% of portfolio
DEO
Diageo plc
3.12% of portfolio
BK
Bank of New York
3.04% of portfolio
MMM
3M Co.
2.96% of portfolio
CSCO
Cisco Systems
2.79% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
2.52% of portfolio
BAX
Baxter International Inc.
2.47% of portfolio
HENKY
Henkel KGAA
2.46% of portfolio
HAL
Halliburton Co.
2.31% of portfolio
ZFSVF
Zurich Insurance Group AG
2.29% of portfolio
2014   Q3$553 M NVS
Novartis AG
5.19% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.96% of portfolio
TOT
Total SA
4.76% of portfolio
JNJ
Johnson & Johnson
4.74% of portfolio
RDS.A
Royal Dutch Shell PLC
4.28% of portfolio
WFC
Wells Fargo
4.10% of portfolio
HAL
Halliburton Co.
3.59% of portfolio
HKHHF
Heineken Holding NV
3.55% of portfolio
DVN
Devon Energy Corp.
3.53% of portfolio
SCBFF
Standard Chartered PLC
3.23% of portfolio
NSRGY
Nestle
3.17% of portfolio
BRK.A
Berkshire Hathaway CL A
2.99% of portfolio
DEO
Diageo plc
2.99% of portfolio
BK
Bank of New York
2.75% of portfolio
MMM
3M Co.
2.42% of portfolio
CSCO
Cisco Systems
2.40% of portfolio
BAX
Baxter International Inc.
2.29% of portfolio
COP
ConocoPhillips
2.24% of portfolio
HENKY
Henkel KGAA
2.24% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
2.22% of portfolio
2014   Q2$591 M TOT
Total SA
4.96% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.68% of portfolio
NVS
Novartis AG
4.67% of portfolio
JNJ
Johnson & Johnson
4.36% of portfolio
RDS.A
Royal Dutch Shell PLC
4.34% of portfolio
WFC
Wells Fargo
3.89% of portfolio
DVN
Devon Energy Corp.
3.85% of portfolio
HAL
Halliburton Co.
3.70% of portfolio
HKHHF
Heineken Holding NV
3.31% of portfolio
NSRGY
Nestle
3.13% of portfolio
DEO
Diageo plc
3.09% of portfolio
COP
ConocoPhillips
3.07% of portfolio
SCBFF
Standard Chartered PLC
2.82% of portfolio
CSCO
Cisco Systems
2.64% of portfolio
BRK.A
Berkshire Hathaway CL A
2.57% of portfolio
BK
Bank of New York
2.49% of portfolio
MMM
3M Co.
2.29% of portfolio
HENKY
Henkel KGAA
2.26% of portfolio
BSBR
Banco Santander (Brasil) S.A.
2.18% of portfolio
BAX
Baxter International Inc.
2.17% of portfolio
2014   Q1$551 M RHHVF
Roche Holdings AG DIV RT
5.04% of portfolio
TOT
Total SA
4.82% of portfolio
NVS
Novartis AG
4.69% of portfolio
JNJ
Johnson & Johnson
4.39% of portfolio
RDS.A
Royal Dutch Shell PLC
4.05% of portfolio
WFC
Wells Fargo
3.94% of portfolio
DVN
Devon Energy Corp.
3.48% of portfolio
HKHHF
Heineken Holding NV
3.48% of portfolio
HAL
Halliburton Co.
3.29% of portfolio
DEO
Diageo plc
3.25% of portfolio
NSRGY
Nestle
3.25% of portfolio
BRK.A
Berkshire Hathaway CL A
2.72% of portfolio
COP
ConocoPhillips
2.70% of portfolio
HENKY
Henkel KGAA
2.63% of portfolio
CSCO
Cisco Systems
2.55% of portfolio
BK
Bank of New York
2.52% of portfolio
BAX
Baxter International Inc.
2.36% of portfolio
MMM
3M Co.
2.33% of portfolio
MA
Mastercard Inc.
2.19% of portfolio
ZFSVF
Zurich Insurance Group AG
2.14% of portfolio
2013   Q4$560 M RHHVF
Roche Holdings AG DIV RT
4.64% of portfolio
TOT
Total SA
4.44% of portfolio
NVS
Novartis AG
4.35% of portfolio
JNJ
Johnson & Johnson
4.03% of portfolio
NSRGY
Nestle
3.92% of portfolio
RDS.A
Royal Dutch Shell PLC
3.90% of portfolio
WFC
Wells Fargo
3.54% of portfolio
DEO
Diageo plc
3.40% of portfolio
HKHHF
Heineken Holding NV
3.36% of portfolio
DVN
Devon Energy Corp.
3.17% of portfolio
HAL
Halliburton Co.
2.79% of portfolio
MA
Mastercard Inc.
2.76% of portfolio
HENKY
Henkel KGAA
2.68% of portfolio
COP
ConocoPhillips
2.67% of portfolio
BRK.A
Berkshire Hathaway CL A
2.54% of portfolio
CSCO
Cisco Systems
2.52% of portfolio
BK
Bank of New York
2.45% of portfolio
MMM
3M Co.
2.37% of portfolio
WMT
Wal-Mart Stores
2.30% of portfolio
BAX
Baxter International Inc.
2.20% of portfolio
2013   Q3$545 M TOT
Total SA
4.78% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.59% of portfolio
NVS
Novartis AG
4.29% of portfolio
JNJ
Johnson & Johnson
3.91% of portfolio
NSRGY
Nestle
3.80% of portfolio
RDS.A
Royal Dutch Shell PLC
3.70% of portfolio
HKHHF
Heineken Holding NV
3.45% of portfolio
DEO
Diageo plc
3.35% of portfolio
WFC
Wells Fargo
3.31% of portfolio
BK
Bank of New York
3.15% of portfolio
DVN
Devon Energy Corp.
3.04% of portfolio
HAL
Halliburton Co.
2.72% of portfolio
CSCO
Cisco Systems
2.70% of portfolio
COP
ConocoPhillips
2.70% of portfolio
UNP
Union Pacific
2.53% of portfolio
BRK.A
Berkshire Hathaway CL A
2.50% of portfolio
UNF
UniFirst Corp.
2.36% of portfolio
HENKY
Henkel KGAA
2.34% of portfolio
MA
Mastercard Inc.
2.28% of portfolio
BSBR
Banco Santander (Brasil) S.A.
2.24% of portfolio
2013   Q2$516 M RHHVF
Roche Holdings AG DIV RT
4.46% of portfolio
TOT
Total SA
4.24% of portfolio
NVS
Novartis AG
4.19% of portfolio
JNJ
Johnson & Johnson
4.10% of portfolio
NSRGY
Nestle
3.80% of portfolio
RDS.A
Royal Dutch Shell PLC
3.78% of portfolio
WFC
Wells Fargo
3.50% of portfolio
HKHHF
Heineken Holding NV
3.23% of portfolio
DEO
Diageo plc
3.20% of portfolio
BK
Bank of New York
3.09% of portfolio
CSCO
Cisco Systems
2.96% of portfolio
HENKY
Henkel KGAA
2.93% of portfolio
DVN
Devon Energy Corp.
2.88% of portfolio
UNP
Union Pacific
2.66% of portfolio
BRK.A
Berkshire Hathaway CL A
2.62% of portfolio
HAL
Halliburton Co.
2.49% of portfolio
COP
ConocoPhillips
2.48% of portfolio
BAX
Baxter International Inc.
2.38% of portfolio
WMT
Wal-Mart Stores
2.36% of portfolio
LUK
Leucadia National Corp.
2.27% of portfolio
2013   Q1$522 M NVS
Novartis AG
4.15% of portfolio
NSRGY
Nestle
4.14% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.14% of portfolio
JNJ
Johnson & Johnson
3.84% of portfolio
TOT
Total SA
3.81% of portfolio
RDS.A
Royal Dutch Shell PLC
3.74% of portfolio
HKHHF
Heineken Holding NV
3.65% of portfolio
DEO
Diageo plc
3.46% of portfolio
WFC
Wells Fargo
3.10% of portfolio
BK
Bank of New York
3.04% of portfolio
HENKY
Henkel KGAA
2.92% of portfolio
DVN
Devon Energy Corp.
2.90% of portfolio
CSCO
Cisco Systems
2.51% of portfolio
BAX
Baxter International Inc.
2.46% of portfolio
COP
ConocoPhillips
2.44% of portfolio
UNP
Union Pacific
2.42% of portfolio
BRK.A
Berkshire Hathaway CL A
2.39% of portfolio
UNF
UniFirst Corp.
2.38% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.38% of portfolio
HAL
Halliburton Co.
2.38% of portfolio
2012   Q4$478 M TOT
Total SA
4.46% of portfolio
NSRGY
Nestle
4.07% of portfolio
NVS
Novartis AG
4.00% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.90% of portfolio
DEO
Diageo plc
3.85% of portfolio
HKHHF
Heineken Holding NV
3.72% of portfolio
JNJ
Johnson & Johnson
3.61% of portfolio
WFC
Wells Fargo
3.13% of portfolio
BK
Bank of New York
3.06% of portfolio
RDS.A
Royal Dutch Shell PLC
3.01% of portfolio
DVN
Devon Energy Corp.
2.93% of portfolio
HENKY
Henkel KGAA
2.77% of portfolio
CSCO
Cisco Systems
2.58% of portfolio
COP
ConocoPhillips
2.57% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.49% of portfolio
BAX
Baxter International Inc.
2.47% of portfolio
UNP
Union Pacific
2.34% of portfolio
WMT
Wal-Mart Stores
2.33% of portfolio
BRK.A
Berkshire Hathaway CL A
2.25% of portfolio
LUK
Leucadia National Corp.
2.22% of portfolio
2012   Q3$443 M TOT
Total SA
4.65% of portfolio
NSRGY
Nestle
4.25% of portfolio
NVS
Novartis AG
4.21% of portfolio
DEO
Diageo plc
4.02% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.91% of portfolio
HKHHF
Heineken Holding NV
3.87% of portfolio
JNJ
Johnson & Johnson
3.83% of portfolio
WFC
Wells Fargo
3.41% of portfolio
RDS.A
Royal Dutch Shell PLC
3.23% of portfolio
BK
Bank of New York
2.90% of portfolio
HENKY
Henkel KGAA
2.85% of portfolio
COP
ConocoPhillips
2.73% of portfolio
WMT
Wal-Mart Stores
2.72% of portfolio
BAX
Baxter International Inc.
2.41% of portfolio
BRK.A
Berkshire Hathaway CL A
2.40% of portfolio
UNP
Union Pacific
2.38% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.34% of portfolio
LUK
Leucadia National Corp.
2.29% of portfolio
ZFSVF
Zurich Insurance Group AG
2.16% of portfolio
BTI
British American Tobacco plc
2.12% of portfolio
2012   Q2$417 M NSRGY
Nestle
4.27% of portfolio
NVS
Novartis AG
4.08% of portfolio
JNJ
Johnson & Johnson
3.99% of portfolio
DEO
Diageo plc
3.90% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.84% of portfolio
HKHHF
Heineken Holding NV
3.79% of portfolio
TOT
Total SA
3.76% of portfolio
WFC
Wells Fargo
3.51% of portfolio
RDS.A
Royal Dutch Shell PLC
3.31% of portfolio
BK
Bank of New York
2.94% of portfolio
COP
ConocoPhillips
2.84% of portfolio
WMT
Wal-Mart Stores
2.73% of portfolio
PM
Philip Morris Intl.
2.70% of portfolio
HENKY
Henkel KGAA
2.57% of portfolio
UNP
Union Pacific
2.54% of portfolio
BRK.A
Berkshire Hathaway CL A
2.40% of portfolio
LUK
Leucadia National Corp.
2.27% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.25% of portfolio
BAX
Baxter International Inc.
2.25% of portfolio
BTI
British American Tobacco plc
2.23% of portfolio
2012   Q1$429 M NSRGY
Nestle
4.37% of portfolio
HKHHF
Heineken Holding NV
4.06% of portfolio
TOT
Total SA
3.98% of portfolio
DEO
Diageo plc
3.94% of portfolio
NVS
Novartis AG
3.92% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.75% of portfolio
PM
Philip Morris Intl.
3.58% of portfolio
WFC
Wells Fargo
3.48% of portfolio
WMT
Wal-Mart Stores
3.39% of portfolio
JNJ
Johnson & Johnson
3.37% of portfolio
RDS.A
Royal Dutch Shell PLC
3.33% of portfolio
HENKY
Henkel KGAA
2.80% of portfolio
COP
ConocoPhillips
2.73% of portfolio
BAX
Baxter International Inc.
2.46% of portfolio
ZFSVF
Zurich Insurance Group AG
2.40% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.33% of portfolio
BRK.A
Berkshire Hathaway CL A
2.27% of portfolio
DVN
Devon Energy Corp.
2.26% of portfolio
UNP
Union Pacific
2.22% of portfolio
LUK
Leucadia National Corp.
2.17% of portfolio
2011   Q4$388 M DEO
Diageo plc
5.21% of portfolio
PM
Philip Morris Intl.
4.93% of portfolio
NSRGY
Nestle
4.44% of portfolio
TOT
Total SA
4.26% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.07% of portfolio
NVS
Novartis AG
3.96% of portfolio
HKHHF
Heineken Holding NV
3.95% of portfolio
JNJ
Johnson & Johnson
3.71% of portfolio
WMT
Wal-Mart Stores
3.67% of portfolio
WFC
Wells Fargo
3.11% of portfolio
COP
ConocoPhillips
2.89% of portfolio
UNP
Union Pacific
2.43% of portfolio
HENKY
Henkel KGAA
2.42% of portfolio
BRK.A
Berkshire Hathaway CL A
2.37% of portfolio
BAX
Baxter International Inc.
2.26% of portfolio
ZFSVF
Zurich Insurance Group AG
2.25% of portfolio
BTI
British American Tobacco plc
2.24% of portfolio
DVN
Devon Energy Corp.
2.18% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.11% of portfolio
LUK
Leucadia National Corp.
2.09% of portfolio
2011   Q3$359 M DEO
Diageo plc
4.89% of portfolio
NSRGY
Nestle
4.57% of portfolio
PM
Philip Morris Intl.
4.23% of portfolio
RHHVF
Roche Holdings AG DIV RT
4.18% of portfolio
HKHHF
Heineken Holding NV
4.03% of portfolio
TOT
Total SA
4.00% of portfolio
JNJ
Johnson & Johnson
3.89% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.84% of portfolio
NVS
Novartis AG
3.51% of portfolio
WMT
Wal-Mart Stores
3.44% of portfolio
ZFSVF
Zurich Insurance Group AG
3.05% of portfolio
WFC
Wells Fargo
2.94% of portfolio
BAX
Baxter International Inc.
2.77% of portfolio
COP
ConocoPhillips
2.71% of portfolio
BRK.A
Berkshire Hathaway CL A
2.38% of portfolio
HENKY
Henkel KGAA
2.38% of portfolio
LUK
Leucadia National Corp.
2.26% of portfolio
BTI
British American Tobacco plc
2.17% of portfolio
DVN
Devon Energy Corp.
2.10% of portfolio
UNP
Union Pacific
2.02% of portfolio
2011   Q2$428 M HKHHF
Heineken Holding NV
4.46% of portfolio
DEO
Diageo plc
4.42% of portfolio
NSRGY
Nestle
4.34% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.92% of portfolio
PM
Philip Morris Intl.
3.80% of portfolio
TOT
Total SA
3.47% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.26% of portfolio
NVS
Novartis AG
3.22% of portfolio
ZFSVF
Zurich Insurance Group AG
3.07% of portfolio
JNJ
Johnson & Johnson
3.02% of portfolio
WMT
Wal-Mart Stores
2.96% of portfolio
LUK
Leucadia National Corp.
2.84% of portfolio
COP
ConocoPhillips
2.70% of portfolio
HENKY
Henkel KGAA
2.58% of portfolio
DVN
Devon Energy Corp.
2.51% of portfolio
BAX
Baxter International Inc.
2.47% of portfolio
WFC
Wells Fargo
2.34% of portfolio
UN
Unilever NV
2.29% of portfolio
TRH
Transatlantic Holdings Inc.
2.28% of portfolio
CNPAF
CNP Assurances
2.22% of portfolio
2011   Q1$436 M NSRGY
Nestle
4.76% of portfolio
DEO
Diageo plc
4.48% of portfolio
HKHHF
Heineken Holding NV
4.12% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.97% of portfolio
PM
Philip Morris Intl.
3.97% of portfolio
TOT
Total SA
3.60% of portfolio
ZFSVF
Zurich Insurance Group AG
3.35% of portfolio
LUK
Leucadia National Corp.
3.08% of portfolio
DVN
Devon Energy Corp.
2.87% of portfolio
WMT
Wal-Mart Stores
2.84% of portfolio
COP
ConocoPhillips
2.82% of portfolio
NVS
Novartis AG
2.81% of portfolio
RHHVF
Roche Holdings AG DIV RT
2.75% of portfolio
JNJ
Johnson & Johnson
2.64% of portfolio
HENKY
Henkel KGAA
2.32% of portfolio
BRK.A
Berkshire Hathaway CL A
2.30% of portfolio
TRH
Transatlantic Holdings Inc.
2.22% of portfolio
BAX
Baxter International Inc.
2.18% of portfolio
UN
Unilever NV
2.14% of portfolio
CNPAF
CNP Assurances
2.13% of portfolio
2010   Q4$393 M NSRGY
Nestle
5.40% of portfolio
DEO
Diageo plc
4.84% of portfolio
HKHHF
Heineken Holding NV
4.14% of portfolio
PM
Philip Morris Intl.
3.93% of portfolio
ZFSVF
Zurich Insurance Group AG
3.44% of portfolio
TOT
Total SA
3.28% of portfolio
WMT
Wal-Mart Stores
3.27% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.19% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.12% of portfolio
JNJ
Johnson & Johnson
3.06% of portfolio
NVS
Novartis AG
3.02% of portfolio
DVN
Devon Energy Corp.
2.72% of portfolio
COP
ConocoPhillips
2.67% of portfolio
LUK
Leucadia National Corp.
2.65% of portfolio
TRH
Transatlantic Holdings Inc.
2.61% of portfolio
HENKY
Henkel KGAA
2.54% of portfolio
BRK.A
Berkshire Hathaway CL A
2.45% of portfolio
UN
Unilever NV
2.38% of portfolio
BAX
Baxter International Inc.
2.28% of portfolio
NWLI
National Western Life Insurance
2.21% of portfolio
2010   Q3$366 M NSRGY
Nestle
5.26% of portfolio
DEO
Diageo plc
4.82% of portfolio
HKHHF
Heineken Holding NV
4.46% of portfolio
PM
Philip Morris Intl.
4.04% of portfolio
WMT
Wal-Mart Stores
3.48% of portfolio
TOT
Total SA
3.42% of portfolio
JNJ
Johnson & Johnson
3.29% of portfolio
NVS
Novartis AG
3.17% of portfolio
RHHVF
Roche Holdings AG DIV RT
3.13% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.12% of portfolio
EMR
Emerson Electric
2.80% of portfolio
TRH
Transatlantic Holdings Inc.
2.76% of portfolio
BRK.A
Berkshire Hathaway CL A
2.72% of portfolio
HENKY
Henkel KGAA
2.72% of portfolio
UN
Unilever NV
2.43% of portfolio
DVN
Devon Energy Corp.
2.41% of portfolio
COP
ConocoPhillips
2.41% of portfolio
LNAGF
Linde AG
2.36% of portfolio
LUK
Leucadia National Corp.
2.30% of portfolio
BAX
Baxter International Inc.
2.30% of portfolio
2010   Q2$314 M NSRGY
Nestle
5.54% of portfolio
DEO
Diageo plc
5.11% of portfolio
HKHHF
Heineken Holding NV
4.37% of portfolio
PM
Philip Morris Intl.
3.85% of portfolio
JNJ
Johnson & Johnson
3.65% of portfolio
WMT
Wal-Mart Stores
3.64% of portfolio
TOT
Total SA
3.49% of portfolio
EMR
Emerson Electric
3.48% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.32% of portfolio
NVS
Novartis AG
3.12% of portfolio
BRK.A
Berkshire Hathaway CL A
3.05% of portfolio
TRH
Transatlantic Holdings Inc.
3.04% of portfolio
HENKY
Henkel KGAA
2.87% of portfolio
DVN
Devon Energy Corp.
2.64% of portfolio
UN
Unilever NV
2.59% of portfolio
NWLI
National Western Life Insurance
2.53% of portfolio
RHHVF
Roche Holdings AG DIV RT
2.44% of portfolio
COP
ConocoPhillips
2.40% of portfolio
MMM
3M Co.
2.38% of portfolio
CNPAF
CNP Assurances
2.38% of portfolio
2010   Q1$366 M NSRGY
Nestle
5.05% of portfolio
DEO
Diageo plc
4.72% of portfolio
HKHHF
Heineken Holding NV
4.54% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.73% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.66% of portfolio
WMT
Wal-Mart Stores
3.62% of portfolio
JNJ
Johnson & Johnson
3.47% of portfolio
EMR
Emerson Electric
3.45% of portfolio
PM
Philip Morris Intl.
3.45% of portfolio
ANAT
American National Insurance Co.
3.32% of portfolio
TOT
Total SA
3.10% of portfolio
NVS
Novartis AG
2.98% of portfolio
TRH
Transatlantic Holdings Inc.
2.87% of portfolio
HENKY
Henkel KGAA
2.79% of portfolio
BRK.A
Berkshire Hathaway CL A
2.66% of portfolio
NWLI
National Western Life Insurance
2.62% of portfolio
CNPAF
CNP Assurances
2.56% of portfolio
UN
Unilever NV
2.45% of portfolio
LUK
Leucadia National Corp.
2.42% of portfolio
DVN
Devon Energy Corp.
2.40% of portfolio
2009   Q4$367 M DEO
Diageo plc
4.84% of portfolio
NSRGY
Nestle
4.75% of portfolio
HKHHF
Heineken Holding NV
4.26% of portfolio
EMR
Emerson Electric
3.72% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.50% of portfolio
ANAT
American National Insurance Co.
3.48% of portfolio
WMT
Wal-Mart Stores
3.47% of portfolio
TOT
Total SA
3.43% of portfolio
JNJ
Johnson & Johnson
3.41% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.31% of portfolio
PM
Philip Morris Intl.
3.18% of portfolio
LNAGF
Linde AG
3.13% of portfolio
NVS
Novartis AG
3.00% of portfolio
TRH
Transatlantic Holdings Inc.
2.83% of portfolio
UNP
Union Pacific
2.78% of portfolio
DVN
Devon Energy Corp.
2.73% of portfolio
UL
Unilever PLC
2.68% of portfolio
HENKY
Henkel KGAA
2.67% of portfolio
GETVF
Gestevision Telecinco SA
2.65% of portfolio
CNPAF
CNP Assurances
2.62% of portfolio
2009   Q3$343 M HKHHF
Heineken Holding NV
5.48% of portfolio
DEO
Diageo plc
4.59% of portfolio
NSRGY
Nestle
4.49% of portfolio
LNAGF
Linde AG
4.31% of portfolio
EMR
Emerson Electric
3.75% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.64% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.56% of portfolio
JNJ
Johnson & Johnson
3.45% of portfolio
PM
Philip Morris Intl.
3.44% of portfolio
WMT
Wal-Mart Stores
3.41% of portfolio
TOT
Total SA
3.38% of portfolio
HENKY
Henkel KGAA
2.99% of portfolio
CNPAF
CNP Assurances
2.94% of portfolio
NVS
Novartis AG
2.93% of portfolio
TRH
Transatlantic Holdings Inc.
2.91% of portfolio
UNP
Union Pacific
2.72% of portfolio
DVN
Devon Energy Corp.
2.67% of portfolio
NWLI
National Western Life Insurance
2.67% of portfolio
ANAT
American National Insurance Co.
2.66% of portfolio
UL
Unilever PLC
2.58% of portfolio
2009   Q2$312 M HKHHF
Heineken Holding NV
5.00% of portfolio
DEO
Diageo plc
4.70% of portfolio
NSRGY
Nestle
4.53% of portfolio
WMT
Wal-Mart Stores
3.69% of portfolio
LNAGF
Linde AG
3.58% of portfolio
JNJ
Johnson & Johnson
3.54% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.43% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.39% of portfolio
PM
Philip Morris Intl.
3.38% of portfolio
TOT
Total SA
3.37% of portfolio
UNF
UniFirst Corp.
3.09% of portfolio
CNPAF
CNP Assurances
3.03% of portfolio
TRH
Transatlantic Holdings Inc.
2.76% of portfolio
UNP
Union Pacific
2.66% of portfolio
ANAT
American National Insurance Co.
2.59% of portfolio
HENKY
Henkel KGAA
2.43% of portfolio
LUK
Leucadia National Corp.
2.41% of portfolio
DVN
Devon Energy Corp.
2.38% of portfolio
UL
Unilever PLC
2.33% of portfolio
UN
Unilever NV
2.31% of portfolio
2009   Q1$257 M NSRGY
Nestle
5.61% of portfolio
WMT
Wal-Mart Stores
4.82% of portfolio
DEO
Diageo plc
4.80% of portfolio
HKHHF
Heineken Holding NV
4.63% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.79% of portfolio
LNAGF
Linde AG
3.60% of portfolio
SKM
SK Telecom Co. Ltd.
2.80% of portfolio
UNF
UniFirst Corp.
2.80% of portfolio
HENKY
Henkel KGAA
2.76% of portfolio
TRH
Transatlantic Holdings Inc.
2.76% of portfolio
TOT
Total SA
2.76% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.72% of portfolio
UNP
Union Pacific
2.55% of portfolio
UN
Unilever NV
2.46% of portfolio
CNPAF
CNP Assurances
2.43% of portfolio
JNJ
Johnson & Johnson
2.37% of portfolio
DVN
Devon Energy Corp.
2.36% of portfolio
COP
ConocoPhillips
2.34% of portfolio
PM
Philip Morris Intl.
2.31% of portfolio
NWLI
National Western Life Insurance
2.29% of portfolio
2008   Q4$266 M NSRGY
Nestle
9.43% of portfolio
DEO
Diageo plc
5.90% of portfolio
WMT
Wal-Mart Stores
5.83% of portfolio
HKHHF
Heineken Holding NV
5.24% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
4.61% of portfolio
TMK
Torchmark Corp.
3.34% of portfolio
NWLI
National Western Life Insurance
3.32% of portfolio
SKM
SK Telecom Co. Ltd.
3.20% of portfolio
MURGF
Muenchener Rueckversicherungs Gesellschaft AG
3.19% of portfolio
TRH
Transatlantic Holdings Inc.
3.00% of portfolio
UN
Unilever NV
2.99% of portfolio
UNF
UniFirst Corp.
2.90% of portfolio
EMR
Emerson Electric
2.79% of portfolio
UL
Unilever PLC
2.68% of portfolio
LUK
Leucadia National Corp.
2.66% of portfolio
HENKY
Henkel KGAA
2.62% of portfolio
GETVF
Gestevision Telecinco SA
2.43% of portfolio
BNI
Burlington Northern Santa Fe
2.38% of portfolio
COP
ConocoPhillips
2.35% of portfolio
RYN
Rayonier Inc.
2.18% of portfolio
2008   Q3$327 M NSRGY
Nestle
8.29% of portfolio
HKHHF
Heineken Holding NV
5.83% of portfolio
DEO
Diageo plc
5.81% of portfolio
WMT
Wal-Mart Stores
5.06% of portfolio
LUK
Leucadia National Corp.
4.96% of portfolio
HD
Home Depot
4.82% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
4.57% of portfolio
AXP
American Express
4.40% of portfolio
NWLI
National Western Life Insurance
3.86% of portfolio
TMK
Torchmark Corp.
3.63% of portfolio
WFC
Wells Fargo
3.49% of portfolio
UNF
UniFirst Corp.
3.41% of portfolio
TRH
Transatlantic Holdings Inc.
3.31% of portfolio
UN
Unilever NV
2.79% of portfolio
SKM
SK Telecom Co. Ltd.
2.69% of portfolio
RYN
Rayonier Inc.
2.68% of portfolio
UL
Unilever PLC
2.57% of portfolio
SWCEY
Swiss Re ADR
2.50% of portfolio
SNY
Sanofi Aventis
2.21% of portfolio
FII
Federated Investors Inc.
2.09% of portfolio
2008   Q2$331 M NSRGY
Nestle
8.65% of portfolio
HKHHF
Heineken Holding NV
6.82% of portfolio
DEO
Diageo plc
6.17% of portfolio
LUK
Leucadia National Corp.
5.07% of portfolio
WMT
Wal-Mart Stores
4.70% of portfolio
AXP
American Express
4.63% of portfolio
HD
Home Depot
4.31% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
4.30% of portfolio
WFC
Wells Fargo
4.17% of portfolio
NWLI
National Western Life Insurance
3.74% of portfolio
TMK
Torchmark Corp.
3.52% of portfolio
UNF
UniFirst Corp.
3.50% of portfolio
TRH
Transatlantic Holdings Inc.
3.40% of portfolio
SKM
SK Telecom Co. Ltd.
2.93% of portfolio
UN
Unilever NV
2.78% of portfolio
UL
Unilever PLC
2.65% of portfolio
FII
Federated Investors Inc.
2.46% of portfolio
RYN
Rayonier Inc.
2.38% of portfolio
SNY
Sanofi Aventis
2.21% of portfolio
PNC
PNC Financial Services
2.07% of portfolio
2008   Q1$381 M NSRGY
Nestle
9.95% of portfolio
HKHHF
Heineken Holding NV
7.59% of portfolio
DEO
Diageo plc
5.89% of portfolio
WFC
Wells Fargo
4.74% of portfolio
AXP
American Express
4.66% of portfolio
HD
Home Depot
4.47% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
4.27% of portfolio
LUK
Leucadia National Corp.
4.24% of portfolio
TRH
Transatlantic Holdings Inc.
3.99% of portfolio
WMT
Wal-Mart Stores
3.82% of portfolio
AIG
American International Group
3.74% of portfolio
TMK
Torchmark Corp.
3.60% of portfolio
FII
Federated Investors Inc.
3.54% of portfolio
NWLI
National Western Life Insurance
3.22% of portfolio
UN
Unilever NV
2.86% of portfolio
UL
Unilever PLC
2.73% of portfolio
SKM
SK Telecom Co. Ltd.
2.65% of portfolio
UNF
UniFirst Corp.
2.52% of portfolio
SNY
Sanofi Aventis
2.17% of portfolio
CNW
Con-way Inc.
2.14% of portfolio
2007   Q4$398 M NSRGY
Nestle
9.70% of portfolio
HKHHF
Heineken Holding NV
8.64% of portfolio
DEO
Diageo plc
5.95% of portfolio
WFC
Wells Fargo
4.70% of portfolio
AXP
American Express
4.41% of portfolio
AIG
American International Group
4.29% of portfolio
LUK
Leucadia National Corp.
4.22% of portfolio
TRH
Transatlantic Holdings Inc.
4.18% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
3.91% of portfolio
TMK
Torchmark Corp.
3.85% of portfolio
FII
Federated Investors Inc.
3.56% of portfolio
SKM
SK Telecom Co. Ltd.
3.50% of portfolio
HD
Home Depot
3.46% of portfolio
WMT
Wal-Mart Stores
3.30% of portfolio
UN
Unilever NV
2.96% of portfolio
NWLI
National Western Life Insurance
2.95% of portfolio
UL
Unilever PLC
2.90% of portfolio
PNC
PNC Financial Services
2.73% of portfolio
SNY
Sanofi Aventis
2.51% of portfolio
UNF
UniFirst Corp.
2.47% of portfolio
2007   Q3$484 M NSRGY
Nestle
7.80% of portfolio
HKHHF
Heineken Holding NV
7.18% of portfolio
DEO
Diageo plc
5.00% of portfolio
WFC
Wells Fargo
4.57% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
4.25% of portfolio
TRH
Transatlantic Holdings Inc.
4.24% of portfolio
ABN
ABN AMRO Holding NV
4.22% of portfolio
AXP
American Express
4.14% of portfolio
AIG
American International Group
4.10% of portfolio
FII
Federated Investors Inc.
4.06% of portfolio
PNC
PNC Financial Services
3.61% of portfolio
LUK
Leucadia National Corp.
3.56% of portfolio
TMK
Torchmark Corp.
3.26% of portfolio
NWLI
National Western Life Insurance
3.00% of portfolio
FMCC
Federal Home Loan Mortgage Corp.
2.91% of portfolio
SKM
SK Telecom Co. Ltd.
2.87% of portfolio
WMT
Wal-Mart Stores
2.49% of portfolio
BAC
Bank of America Corp.
2.22% of portfolio
HD
Home Depot
2.21% of portfolio
UN
Unilever NV
2.06% of portfolio
2007   Q2$467 M NSRGY
Nestle
6.86% of portfolio
HKHHF
Heineken Holding NV
6.74% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
5.14% of portfolio
DEO
Diageo plc
4.92% of portfolio
WFC
Wells Fargo
4.67% of portfolio
TRH
Transatlantic Holdings Inc.
4.48% of portfolio
AXP
American Express
4.42% of portfolio
AIG
American International Group
4.40% of portfolio
FII
Federated Investors Inc.
4.06% of portfolio
PNC
PNC Financial Services
3.92% of portfolio
ABN
ABN AMRO Holding NV
3.82% of portfolio
TMK
Torchmark Corp.
3.63% of portfolio
FMCC
Federal Home Loan Mortgage Corp.
3.10% of portfolio
NWLI
National Western Life Insurance
3.07% of portfolio
WMT
Wal-Mart Stores
2.85% of portfolio
HD
Home Depot
2.78% of portfolio
SKM
SK Telecom Co. Ltd.
2.73% of portfolio
LUK
Leucadia National Corp.
2.69% of portfolio
UNF
UniFirst Corp.
2.37% of portfolio
BAC
Bank of America Corp.
2.23% of portfolio
2007   Q1$473 M NSRGY
Nestle
6.91% of portfolio
HKHHF
Heineken Holding NV
5.67% of portfolio
TRH
Transatlantic Holdings Inc.
5.32% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
5.16% of portfolio
DEO
Diageo plc
4.72% of portfolio
PNC
PNC Financial Services
4.66% of portfolio
WFC
Wells Fargo
4.52% of portfolio
FII
Federated Investors Inc.
4.23% of portfolio
AIG
American International Group
4.17% of portfolio
AXP
American Express
4.02% of portfolio
NWLI
National Western Life Insurance
3.84% of portfolio
ABN
ABN AMRO Holding NV
3.54% of portfolio
TMK
Torchmark Corp.
3.51% of portfolio
FMCC
Federal Home Loan Mortgage Corp.
3.38% of portfolio
WMT
Wal-Mart Stores
2.74% of portfolio
HD
Home Depot
2.57% of portfolio
SKM
SK Telecom Co. Ltd.
2.31% of portfolio
BAC
Bank of America Corp.
2.30% of portfolio
LUK
Leucadia National Corp.
2.22% of portfolio
UNF
UniFirst Corp.
2.04% of portfolio
2006   Q4$492 M NSRGY
Nestle
6.08% of portfolio
CMCSK-OLD
Comcast Corp. CL A Spl
5.44% of portfolio
TRH
Transatlantic Holdings Inc.
5.41% of portfolio
HKHHF
Heineken Holding NV
5.02% of portfolio
PNC
PNC Financial Services
4.60% of portfolio
WFC
Wells Fargo
4.48% of portfolio
DEO
Diageo plc
4.45% of portfolio
AIG
American International Group
4.27% of portfolio
AXP
American Express
4.16% of portfolio
MBI
MBIA Inc.
4.00% of portfolio
FII
Federated Investors Inc.
3.74% of portfolio
FMCC
Federal Home Loan Mortgage Corp.
3.70% of portfolio
NWLI
National Western Life Insurance
3.48% of portfolio
TMK
Torchmark Corp.
3.28% of portfolio
PFE
Pfizer Inc.
3.10% of portfolio
HD
Home Depot
2.69% of portfolio
WMT
Wal-Mart Stores
2.59% of portfolio
ABN
ABN AMRO Holding NV
2.53% of portfolio
BAC
Bank of America Corp.
2.31% of portfolio
SNY
Sanofi Aventis
2.06% of portfolio