Historical Stock Holdings

Tweedy Browne Co. - Tweedy Browne Value Fund

PeriodPortfolio ValueTop 20 holdings history (left to right)
2024   Q1$440 M BRK.A
Berkshire Hathaway CL A
7.36% of portfolio
 		GOOGL
Alphabet Inc.
4.22% of portfolio
 		NWLI
National Western Life Group Inc.
3.77% of portfolio
 		SAFRY
Safran SA
3.76% of portfolio
 		TTE
TotalEnergies SE
3.68% of portfolio
 		WFC
Wells Fargo
2.98% of portfolio
 		NSRGY
Nestle
2.87% of portfolio
 		SZCRF
SCOR SE
2.45% of portfolio
 		FMC
FMC Corp.
2.43% of portfolio
 		RUBSF
Rubis SCA
2.41% of portfolio
 		HKHHF
Heineken Holding NV
2.35% of portfolio
 		FDX
FedEx Corp.
2.32% of portfolio
 		JNJ
Johnson & Johnson
2.28% of portfolio
 		DEO
Diageo ADR
2.12% of portfolio
 		TLPFF
Teleperformance SE
2.11% of portfolio
 		RNMBF
Rheinmetall AG
2.10% of portfolio
 		BAESF
BAE Systems plc
2.05% of portfolio
 		CNHI
CNH Industrial NV
1.92% of portfolio
 		UOVEY
United Overseas Bank Ltd.
1.91% of portfolio
 		IONS
Ionis Pharmaceuticals Inc.
1.88% of portfolio
2023   Q4$416 M BRK.A
Berkshire Hathaway CL A
6.66% of portfolio
 		GOOGL
Alphabet Inc.
4.13% of portfolio
 		NWLI
National Western Life Group Inc.
3.92% of portfolio
 		TTE
TotalEnergies SE
3.87% of portfolio
 		TLPFF
Teleperformance SE
3.34% of portfolio
 		NSRGY
Nestle
3.30% of portfolio
 		SAFRY
Safran SA
3.09% of portfolio
 		WFC
Wells Fargo
2.67% of portfolio
 		HKHHF
Heineken Holding NV
2.61% of portfolio
 		JNJ
Johnson & Johnson
2.39% of portfolio
 		IONS
Ionis Pharmaceuticals Inc.
2.32% of portfolio
 		DHLGY
Deutsche Post AG
2.27% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.24% of portfolio
 		DEO
Diageo ADR
2.20% of portfolio
 		FMC
FMC Corp.
2.18% of portfolio
 		SZCRF
SCOR SE
2.18% of portfolio
 		FDX
FedEx Corp.
2.14% of portfolio
 		UHAL
U-Haul Holding Co.
2.08% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.00% of portfolio
 		CNHI
CNH Industrial NV
1.91% of portfolio
2023   Q3$380 M BRK.A
Berkshire Hathaway CL A
7.83% of portfolio
 		GOOGL
Alphabet Inc.
4.24% of portfolio
 		TTE
TotalEnergies SE
4.10% of portfolio
 		NWLI
National Western Life Group Inc.
3.88% of portfolio
 		NSRGY
Nestle
3.54% of portfolio
 		SAFRY
Safran SA
3.38% of portfolio
 		SZCRF
SCOR SE
2.91% of portfolio
 		JNJ
Johnson & Johnson
2.60% of portfolio
 		HKHHF
Heineken Holding NV
2.54% of portfolio
 		DEO
Diageo ADR
2.46% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.46% of portfolio
 		FDX
FedEx Corp.
2.45% of portfolio
 		WFC
Wells Fargo
2.43% of portfolio
 		AZO
AutoZone Inc.
2.40% of portfolio
 		IONS
Ionis Pharmaceuticals Inc.
2.27% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.12% of portfolio
 		CNHI
CNH Industrial NV
2.08% of portfolio
 		DHLGY
Deutsche Post AG
2.04% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
1.81% of portfolio
 		TBABF
Trelleborg AB
1.79% of portfolio
2023   Q2$416 M BRK.A
Berkshire Hathaway CL A
7.46% of portfolio
 		SAFRY
Safran SA
4.00% of portfolio
 		GOOGL
Alphabet Inc.
3.54% of portfolio
 		NSRGY
Nestle
3.43% of portfolio
 		NWLI
National Western Life Group Inc.
3.37% of portfolio
 		TTE
TotalEnergies SE
3.26% of portfolio
 		WFC
Wells Fargo
2.70% of portfolio
 		HKHHF
Heineken Holding NV
2.67% of portfolio
 		JNJ
Johnson & Johnson
2.65% of portfolio
 		DEO
Diageo ADR
2.61% of portfolio
 		SZCRF
SCOR SE
2.50% of portfolio
 		CNHI
CNH Industrial NV
2.46% of portfolio
 		DHLGY
Deutsche Post AG
2.24% of portfolio
 		AZO
AutoZone Inc.
2.15% of portfolio
 		FDX
FedEx Corp.
2.09% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.00% of portfolio
 		UOVEY
United Overseas Bank Ltd.
1.92% of portfolio
 		IONS
Ionis Pharmaceuticals Inc.
1.88% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
1.85% of portfolio
 		RUBSF
Rubis SCA
1.75% of portfolio
2023   Q1$409 M BRK.A
Berkshire Hathaway CL A
6.83% of portfolio
 		SAFRY
Safran SA
4.31% of portfolio
 		NSRGY
Nestle
3.53% of portfolio
 		TTE
TotalEnergies SE
3.41% of portfolio
 		GOOGL
Alphabet Inc.
3.12% of portfolio
 		HKHHF
Heineken Holding NV
2.88% of portfolio
 		DEO
Diageo ADR
2.78% of portfolio
 		CNHI
CNH Industrial NV
2.66% of portfolio
 		JNJ
Johnson & Johnson
2.52% of portfolio
 		WFC
Wells Fargo
2.40% of portfolio
 		DHLGY
Deutsche Post AG
2.19% of portfolio
 		AZO
AutoZone Inc.
2.16% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.12% of portfolio
 		NWLI
National Western Life Group Inc.
2.00% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
1.99% of portfolio
 		SZCRF
SCOR SE
1.98% of portfolio
 		FDX
FedEx Corp.
1.96% of portfolio
 		TBABF
Trelleborg AB
1.89% of portfolio
 		VRTX
Vertex Pharmaceuticals
1.83% of portfolio
 		CNXC
Concentrix Corp.
1.81% of portfolio
2022   Q4$384 M BRK.A
Berkshire Hathaway CL A
7.33% of portfolio
 		SAFRY
Safran SA
3.87% of portfolio
 		TTE
TotalEnergies SE
3.85% of portfolio
 		NSRGY
Nestle
3.57% of portfolio
 		JNJ
Johnson & Johnson
3.07% of portfolio
 		CNHI
CNH Industrial NV
2.96% of portfolio
 		DEO
Diageo ADR
2.91% of portfolio
 		GOOGL
Alphabet Inc.
2.83% of portfolio
 		WFC
Wells Fargo
2.83% of portfolio
 		HKHHF
Heineken Holding NV
2.57% of portfolio
 		NWLI
National Western Life Group Inc.
2.47% of portfolio
 		UL
Unilever PLC
2.43% of portfolio
 		AZO
AutoZone Inc.
2.31% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.30% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.18% of portfolio
 		SZCRF
SCOR SE
2.13% of portfolio
 		CNXC
Concentrix Corp.
2.11% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
2.06% of portfolio
 		IONS
Ionis Pharmaceuticals Inc.
1.87% of portfolio
 		DHLGY
Deutsche Post AG
1.86% of portfolio
2022   Q3$342 M BRK.A
Berkshire Hathaway CL A
7.13% of portfolio
 		AZO
AutoZone Inc.
3.87% of portfolio
 		NSRGY
Nestle
3.74% of portfolio
 		GOOGL
Alphabet Inc.
3.44% of portfolio
 		TTE
TotalEnergies SE
3.24% of portfolio
 		JNJ
Johnson & Johnson
3.18% of portfolio
 		SAFRY
Safran SA
3.16% of portfolio
 		DEO
Diageo ADR
3.11% of portfolio
 		WFC
Wells Fargo
3.10% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
2.94% of portfolio
 		CNHI
CNH Industrial NV
2.92% of portfolio
 		HKHHF
Heineken Holding NV
2.56% of portfolio
 		UL
Unilever PLC
2.38% of portfolio
 		IONS
Ionis Pharmaceuticals Inc.
2.12% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.05% of portfolio
 		VRTX
Vertex Pharmaceuticals
2.02% of portfolio
 		CNXC
Concentrix Corp.
1.99% of portfolio
 		NWLI
National Western Life Group Inc.
1.68% of portfolio
 		DHLGY
Deutsche Post AG
1.64% of portfolio
 		SZCRF
SCOR SE
1.50% of portfolio
2022   Q2$378 M BRK.A
Berkshire Hathaway CL A
6.49% of portfolio
 		NSRGY
Nestle
3.65% of portfolio
 		GOOGL
Alphabet Inc.
3.54% of portfolio
 		AZO
AutoZone Inc.
3.51% of portfolio
 		TTE
TotalEnergies SE
3.29% of portfolio
 		JNJ
Johnson & Johnson
3.13% of portfolio
 		SAFRY
Safran SA
3.10% of portfolio
 		DEO
Diageo ADR
2.89% of portfolio
 		WFC
Wells Fargo
2.72% of portfolio
 		CNHI
CNH Industrial NV
2.72% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
2.71% of portfolio
 		HKHHF
Heineken Holding NV
2.46% of portfolio
 		UL
Unilever PLC
2.25% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.05% of portfolio
 		GSK
GSK plc
1.95% of portfolio
 		UOVEY
United Overseas Bank Ltd.
1.93% of portfolio
 		NWLI
National Western Life Group Inc.
1.81% of portfolio
 		VRTX
Vertex Pharmaceuticals
1.77% of portfolio
 		BABA
Alibaba Group Holdings
1.71% of portfolio
 		IONS
Ionis Pharmaceuticals Inc.
1.60% of portfolio
2022   Q1$418 M BRK.A
Berkshire Hathaway CL A
7.59% of portfolio
 		GOOGL
Alphabet Inc.
4.09% of portfolio
 		NSRGY
Nestle
3.70% of portfolio
 		CNHI
CNH Industrial NV
3.38% of portfolio
 		WFC
Wells Fargo
3.05% of portfolio
 		DEO
Diageo ADR
3.05% of portfolio
 		AZO
AutoZone Inc.
3.02% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
2.93% of portfolio
 		TTE
TotalEnergies SE
2.88% of portfolio
 		JNJ
Johnson & Johnson
2.83% of portfolio
 		HKHHF
Heineken Holding NV
2.41% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.17% of portfolio
 		UL
Unilever PLC
2.02% of portfolio
 		SAFRY
Safran SA
1.87% of portfolio
 		RUBSF
Rubis SCA
1.83% of portfolio
 		SZCRF
SCOR SE
1.82% of portfolio
 		GSK
GSK plc
1.78% of portfolio
 		INTC
Intel Corp.
1.78% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
1.73% of portfolio
 		NWLI
National Western Life Group Inc.
1.70% of portfolio
2021   Q4$416 M BRK.A
Berkshire Hathaway CL A
6.50% of portfolio
 		GOOGL
Alphabet Inc.
4.28% of portfolio
 		CNHI
CNH Industrial NV
4.16% of portfolio
 		NSRGY
Nestle
4.01% of portfolio
 		AZO
AutoZone Inc.
3.55% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.50% of portfolio
 		DEO
Diageo ADR
3.32% of portfolio
 		WFC
Wells Fargo
3.04% of portfolio
 		JNJ
Johnson & Johnson
2.96% of portfolio
 		TTE
TotalEnergies SE
2.89% of portfolio
 		HKHHF
Heineken Holding NV
2.84% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.64% of portfolio
 		UL
Unilever PLC
2.40% of portfolio
 		BABA
Alibaba Group Holdings
2.02% of portfolio
 		RUBSF
Rubis SCA
1.99% of portfolio
 		MMM
3M Co.
1.97% of portfolio
 		SAFRY
Safran SA
1.95% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
1.89% of portfolio
 		NWLI
National Western Life Group Inc.
1.88% of portfolio
 		GSK
GSK plc
1.80% of portfolio
2021   Q3$407 M BRK.A
Berkshire Hathaway CL A
6.06% of portfolio
 		GOOGL
Alphabet Inc.
4.04% of portfolio
 		CNHI
CNH Industrial NV
3.68% of portfolio
 		AZO
AutoZone Inc.
3.65% of portfolio
 		NSRGY
Nestle
3.51% of portfolio
 		DEO
Diageo ADR
3.18% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.14% of portfolio
 		WFC
Wells Fargo
3.00% of portfolio
 		JNJ
Johnson & Johnson
2.85% of portfolio
 		TTE
TotalEnergies SE
2.78% of portfolio
 		HKHHF
Heineken Holding NV
2.74% of portfolio
 		UL
Unilever PLC
2.74% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.56% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.30% of portfolio
 		GOOG
Alphabet Inc. CL C
2.12% of portfolio
 		SAFRY
Safran SA
2.06% of portfolio
 		MMM
3M Co.
1.99% of portfolio
 		CMCSA
Comcast Corp.
1.94% of portfolio
 		BABA
Alibaba Group Holdings
1.94% of portfolio
 		NWLI
National Western Life Group Inc.
1.89% of portfolio
2021   Q2$424 M BRK.A
Berkshire Hathaway CL A
5.93% of portfolio
 		JNJ
Johnson & Johnson
3.89% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.87% of portfolio
 		CNHI
CNH Industrial NV
3.62% of portfolio
 		DEO
Diageo ADR
3.56% of portfolio
 		GOOGL
Alphabet Inc.
3.54% of portfolio
 		NSRGY
Nestle
3.50% of portfolio
 		GOOG
Alphabet Inc. CL C
3.25% of portfolio
 		HKHHF
Heineken Holding NV
3.12% of portfolio
 		AZO
AutoZone Inc.
3.08% of portfolio
 		BABA
Alibaba Group Holdings
2.85% of portfolio
 		UL
Unilever PLC
2.84% of portfolio
 		WFC
Wells Fargo
2.81% of portfolio
 		TTE
TotalEnergies SE
2.52% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.50% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.41% of portfolio
 		MMM
3M Co.
2.17% of portfolio
 		SAFRY
Safran SA
2.16% of portfolio
 		NWLI
National Western Life Group Inc.
1.93% of portfolio
 		NVS
Novartis AG
1.93% of portfolio
2021   Q1$405 M BRK.A
Berkshire Hathaway CL A
7.61% of portfolio
 		JNJ
Johnson & Johnson
4.06% of portfolio
 		CNHI
CNH Industrial NV
3.55% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.48% of portfolio
 		NSRGY
Nestle
3.27% of portfolio
 		DEO
Diageo ADR
3.19% of portfolio
 		HKHHF
Heineken Holding NV
3.14% of portfolio
 		GOOGL
Alphabet Inc.
3.13% of portfolio
 		AZO
AutoZone Inc.
3.03% of portfolio
 		UL
Unilever PLC
2.84% of portfolio
 		GOOG
Alphabet Inc. CL C
2.80% of portfolio
 		TTE
TotalEnergies SE
2.73% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.61% of portfolio
 		WFC
Wells Fargo
2.54% of portfolio
 		BABA
Alibaba Group Holdings
2.24% of portfolio
 		NWLI
National Western Life Group Inc.
2.24% of portfolio
 		SAFRY
Safran SA
2.22% of portfolio
 		MMM
3M Co.
2.20% of portfolio
 		FSNUF
Fresenius SE & Co KGaA
2.15% of portfolio
 		HENKY
Henkel KGAA
2.07% of portfolio
2020   Q4$395 M BRK.A
Berkshire Hathaway CL A
7.05% of portfolio
 		NSRGY
Nestle
4.07% of portfolio
 		JNJ
Johnson & Johnson
3.99% of portfolio
 		DEO
Diageo ADR
3.93% of portfolio
 		HKHHF
Heineken Holding NV
3.86% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.85% of portfolio
 		UL
Unilever PLC
3.15% of portfolio
 		CNHI
CNH Industrial NV
2.96% of portfolio
 		GOOGL
Alphabet Inc.
2.73% of portfolio
 		AZO
AutoZone Inc.
2.66% of portfolio
 		TTE
TotalEnergies SE
2.59% of portfolio
 		NVS
Novartis AG
2.44% of portfolio
 		GOOG
Alphabet Inc. CL C
2.44% of portfolio
 		SAFRY
Safran SA
2.38% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.38% of portfolio
 		HENKY
Henkel KGAA
2.06% of portfolio
 		MMM
3M Co.
2.05% of portfolio
 		WFC
Wells Fargo
2.01% of portfolio
 		BIDU
Baidu Inc.
1.97% of portfolio
 		SZCRF
SCOR SE
1.94% of portfolio
2020   Q3$340 M BRK.A
Berkshire Hathaway CL A
7.53% of portfolio
 		NSRGY
Nestle
5.08% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
4.39% of portfolio
 		JNJ
Johnson & Johnson
4.38% of portfolio
 		DEO
Diageo ADR
4.26% of portfolio
 		HKHHF
Heineken Holding NV
3.88% of portfolio
 		UNLYF
Unilever Ord Shares
3.27% of portfolio
 		AZO
AutoZone Inc.
3.18% of portfolio
 		GOOG
Alphabet Inc. CL C
2.66% of portfolio
 		GOOGL
Alphabet Inc.
2.65% of portfolio
 		NVS
Novartis AG
2.61% of portfolio
 		TTE
TotalEnergies SE
2.38% of portfolio
 		HENKY
Henkel KGAA
2.33% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.26% of portfolio
 		MMM
3M Co.
2.18% of portfolio
 		CNHI
CNH Industrial NV
2.13% of portfolio
 		ZFSVF
Zurich Insurance Group AG
2.10% of portfolio
 		NWLI
National Western Life Group Inc.
1.98% of portfolio
 		BAESF
BAE Systems plc
1.97% of portfolio
 		CSCO
Cisco Systems
1.95% of portfolio
2020   Q2$339 M BRK.A
Berkshire Hathaway CL A
6.30% of portfolio
 		NSRGY
Nestle
5.11% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
4.55% of portfolio
 		DEO
Diageo ADR
4.17% of portfolio
 		JNJ
Johnson & Johnson
4.15% of portfolio
 		HKHHF
Heineken Holding NV
4.09% of portfolio
 		NVS
Novartis AG
3.69% of portfolio
 		AZO
AutoZone Inc.
3.05% of portfolio
 		UNLYF
Unilever Ord Shares
2.89% of portfolio
 		ZFSVF
Zurich Insurance Group AG
2.84% of portfolio
 		TTE
TotalEnergies SE
2.69% of portfolio
 		GOOGL
Alphabet Inc.
2.57% of portfolio
 		GOOG
Alphabet Inc. CL C
2.57% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.37% of portfolio
 		CSCO
Cisco Systems
2.31% of portfolio
 		NWLI
National Western Life Group Inc.
2.20% of portfolio
 		BK
Bank of New York Mellon Corp.
2.18% of portfolio
 		MMM
3M Co.
2.13% of portfolio
 		HENKY
Henkel KGAA
2.08% of portfolio
 		GSK
GSK plc
2.04% of portfolio
2020   Q1$309 M BRK.A
Berkshire Hathaway CL A
7.05% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
5.78% of portfolio
 		NSRGY
Nestle
5.23% of portfolio
 		DEO
Diageo ADR
4.33% of portfolio
 		HKHHF
Heineken Holding NV
4.26% of portfolio
 		JNJ
Johnson & Johnson
4.25% of portfolio
 		NVS
Novartis AG
3.82% of portfolio
 		BK
Bank of New York Mellon Corp.
3.09% of portfolio
 		ZFSVF
Zurich Insurance Group AG
3.08% of portfolio
 		UNLYF
Unilever Ord Shares
2.91% of portfolio
 		TTE
TotalEnergies SE
2.87% of portfolio
 		AZO
AutoZone Inc.
2.70% of portfolio
 		WFC
Wells Fargo
2.45% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.44% of portfolio
 		GOOG
Alphabet Inc. CL C
2.32% of portfolio
 		GOOGL
Alphabet Inc.
2.31% of portfolio
 		BAESF
BAE Systems plc
2.23% of portfolio
 		CSCO
Cisco Systems
2.14% of portfolio
 		GSK
GSK plc
2.08% of portfolio
 		NWLI
National Western Life Group Inc.
2.05% of portfolio
2019   Q4$403 M BRK.A
Berkshire Hathaway CL A
6.74% of portfolio
 		HKHHF
Heineken Holding NV
5.55% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
4.48% of portfolio
 		DEO
Diageo ADR
4.39% of portfolio
 		NSRGY
Nestle
4.21% of portfolio
 		JNJ
Johnson & Johnson
3.62% of portfolio
 		BK
Bank of New York Mellon Corp.
3.53% of portfolio
 		WFC
Wells Fargo
3.51% of portfolio
 		NVS
Novartis AG
3.38% of portfolio
 		TTE
TotalEnergies SE
3.24% of portfolio
 		AZO
AutoZone Inc.
2.91% of portfolio
 		ZFSVF
Zurich Insurance Group AG
2.77% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.68% of portfolio
 		NWLI
National Western Life Group Inc.
2.66% of portfolio
 		UNLYF
Unilever Ord Shares
2.62% of portfolio
 		SHEL
Shell plc
2.57% of portfolio
 		CNHI
CNH Industrial NV
2.53% of portfolio
 		GOOG
Alphabet Inc. CL C
2.04% of portfolio
 		GOOGL
Alphabet Inc.
2.04% of portfolio
 		COP
ConocoPhillips
2.03% of portfolio
2019   Q3$398 M BRK.A
Berkshire Hathaway CL A
6.26% of portfolio
 		HKHHF
Heineken Holding NV
5.77% of portfolio
 		DEO
Diageo ADR
4.32% of portfolio
 		NSRGY
Nestle
4.27% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
4.07% of portfolio
 		WFC
Wells Fargo
3.33% of portfolio
 		JNJ
Johnson & Johnson
3.25% of portfolio
 		BK
Bank of New York Mellon Corp.
3.21% of portfolio
 		NVS
Novartis AG
3.13% of portfolio
 		TTE
TotalEnergies SE
3.10% of portfolio
 		UNLYF
Unilever Ord Shares
2.77% of portfolio
 		AZO
AutoZone Inc.
2.68% of portfolio
 		ZFSVF
Zurich Insurance Group AG
2.61% of portfolio
 		SHEL
Shell plc
2.59% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.57% of portfolio
 		SCBFF
Standard Chartered PLC
2.54% of portfolio
 		NWLI
National Western Life Group Inc.
2.48% of portfolio
 		CNHI
CNH Industrial NV
2.38% of portfolio
 		ANFGF
Antofagasta plc
2.35% of portfolio
 		AXELF
Axel Springer AG
2.20% of portfolio
2019   Q2$417 M BRK.A
Berkshire Hathaway CL A
6.11% of portfolio
 		HKHHF
Heineken Holding NV
5.82% of portfolio
 		DEO
Diageo ADR
4.35% of portfolio
 		NSRGY
Nestle
3.89% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.77% of portfolio
 		MA
Mastercard Inc.
3.42% of portfolio
 		JNJ
Johnson & Johnson
3.35% of portfolio
 		TTE
TotalEnergies SE
3.18% of portfolio
 		NVS
Novartis AG
3.15% of portfolio
 		BK
Bank of New York Mellon Corp.
3.00% of portfolio
 		WFC
Wells Fargo
2.99% of portfolio
 		SHEL
Shell plc
2.77% of portfolio
 		UNLYF
Unilever Ord Shares
2.68% of portfolio
 		SCBFF
Standard Chartered PLC
2.62% of portfolio
 		AZO
AutoZone Inc.
2.60% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.55% of portfolio
 		ANFGF
Antofagasta plc
2.40% of portfolio
 		AXELF
Axel Springer AG
2.29% of portfolio
 		CNHI
CNH Industrial NV
2.29% of portfolio
 		ZFSVF
Zurich Insurance Group AG
2.28% of portfolio
2019   Q1$416 M BRK.A
Berkshire Hathaway CL A
5.79% of portfolio
 		HKHHF
Heineken Holding NV
5.56% of portfolio
 		DEO
Diageo ADR
4.14% of portfolio
 		TTE
TotalEnergies SE
3.91% of portfolio
 		MA
Mastercard Inc.
3.69% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.69% of portfolio
 		NSRGY
Nestle
3.60% of portfolio
 		BK
Bank of New York Mellon Corp.
3.43% of portfolio
 		JNJ
Johnson & Johnson
3.36% of portfolio
 		NVS
Novartis AG
3.32% of portfolio
 		SHEL
Shell plc
3.09% of portfolio
 		WFC
Wells Fargo
3.06% of portfolio
 		CSCO
Cisco Systems
2.69% of portfolio
 		UNLYF
Unilever Ord Shares
2.58% of portfolio
 		ANFGF
Antofagasta plc
2.56% of portfolio
 		AZO
AutoZone Inc.
2.50% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.46% of portfolio
 		NWLI
National Western Life Group Inc.
2.32% of portfolio
 		MMM
3M Co.
2.31% of portfolio
 		SCBFF
Standard Chartered PLC
2.23% of portfolio
2018   Q4$393 M BRK.A
Berkshire Hathaway CL A
6.23% of portfolio
 		HKHHF
Heineken Holding NV
4.95% of portfolio
 		TTE
TotalEnergies SE
3.93% of portfolio
 		DEO
Diageo ADR
3.80% of portfolio
 		AZO
AutoZone Inc.
3.76% of portfolio
 		NSRGY
Nestle
3.75% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.50% of portfolio
 		MA
Mastercard Inc.
3.47% of portfolio
 		NVS
Novartis AG
3.46% of portfolio
 		BK
Bank of New York Mellon Corp.
3.39% of portfolio
 		JNJ
Johnson & Johnson
3.29% of portfolio
 		WFC
Wells Fargo
3.26% of portfolio
 		SHEL
Shell plc
3.05% of portfolio
 		NWLI
National Western Life Group Inc.
2.82% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.53% of portfolio
 		UNLYF
Unilever Ord Shares
2.52% of portfolio
 		HYMLF
Hyundai Motor Co.
2.49% of portfolio
 		CSCO
Cisco Systems
2.29% of portfolio
 		MMM
3M Co.
2.24% of portfolio
 		ANFGF
Antofagasta plc
2.15% of portfolio
2018   Q3$456 M BRK.A
Berkshire Hathaway CL A
5.62% of portfolio
 		HKHHF
Heineken Holding NV
4.59% of portfolio
 		TTE
TotalEnergies SE
4.53% of portfolio
 		DEO
Diageo ADR
3.77% of portfolio
 		SHEL
Shell plc
3.76% of portfolio
 		NVS
Novartis AG
3.75% of portfolio
 		MA
Mastercard Inc.
3.71% of portfolio
 		WFC
Wells Fargo
3.63% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.60% of portfolio
 		NSRGY
Nestle
3.48% of portfolio
 		BK
Bank of New York Mellon Corp.
3.17% of portfolio
 		CSCO
Cisco Systems
3.17% of portfolio
 		JNJ
Johnson & Johnson
3.03% of portfolio
 		AZO
AutoZone Inc.
3.00% of portfolio
 		WPP
WPP Group plc
2.59% of portfolio
 		NWLI
National Western Life Group Inc.
2.58% of portfolio
 		BIDU
Baidu Inc.
2.49% of portfolio
 		COP
ConocoPhillips
2.41% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.40% of portfolio
 		HYMLF
Hyundai Motor Co.
2.36% of portfolio
2018   Q2$488 M HKHHF
Heineken Holding NV
5.27% of portfolio
 		BRK.A
Berkshire Hathaway CL A
4.62% of portfolio
 		TTE
TotalEnergies SE
4.34% of portfolio
 		SHEL
Shell plc
4.22% of portfolio
 		WFC
Wells Fargo
4.19% of portfolio
 		DEO
Diageo ADR
4.03% of portfolio
 		BK
Bank of New York Mellon Corp.
3.94% of portfolio
 		CSCO
Cisco Systems
3.82% of portfolio
 		MA
Mastercard Inc.
3.62% of portfolio
 		NSRGY
Nestle
3.60% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.57% of portfolio
 		NVS
Novartis AG
3.55% of portfolio
 		JNJ
Johnson & Johnson
3.19% of portfolio
 		MMM
3M Co.
2.80% of portfolio
 		WPP
WPP Group plc
2.60% of portfolio
 		BIDU
Baidu Inc.
2.47% of portfolio
 		AXELF
Axel Springer AG
2.44% of portfolio
 		AZO
AutoZone Inc.
2.42% of portfolio
 		NWLI
National Western Life Group Inc.
2.32% of portfolio
 		COP
ConocoPhillips
2.31% of portfolio
2018   Q1$491 M HKHHF
Heineken Holding NV
5.62% of portfolio
 		BRK.A
Berkshire Hathaway CL A
4.87% of portfolio
 		TTE
TotalEnergies SE
4.02% of portfolio
 		WFC
Wells Fargo
3.93% of portfolio
 		SHEL
Shell plc
3.83% of portfolio
 		CSCO
Cisco Systems
3.78% of portfolio
 		DEO
Diageo ADR
3.76% of portfolio
 		NVS
Novartis AG
3.75% of portfolio
 		BK
Bank of New York Mellon Corp.
3.74% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.66% of portfolio
 		NSRGY
Nestle
3.66% of portfolio
 		JNJ
Johnson & Johnson
3.35% of portfolio
 		MA
Mastercard Inc.
3.21% of portfolio
 		MMM
3M Co.
3.11% of portfolio
 		AXELF
Axel Springer AG
2.80% of portfolio
 		WPP
WPP Group plc
2.61% of portfolio
 		HYMLF
Hyundai Motor Co.
2.52% of portfolio
 		UOVEY
United Overseas Bank Ltd.
2.35% of portfolio
 		NWLI
National Western Life Group Inc.
2.28% of portfolio
 		BIDU
Baidu Inc.
2.25% of portfolio
2017   Q4$503 M HKHHF
Heineken Holding NV
5.29% of portfolio
 		BRK.A
Berkshire Hathaway CL A
4.73% of portfolio
 		WFC
Wells Fargo
4.45% of portfolio
 		TTE
TotalEnergies SE
4.30% of portfolio
 		DEO
Diageo ADR
3.96% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.95% of portfolio
 		SHEL
Shell plc
3.94% of portfolio
 		NSRGY
Nestle
3.89% of portfolio
 		NVS
Novartis AG
3.84% of portfolio
 		BK
Bank of New York Mellon Corp.
3.82% of portfolio
 		JNJ
Johnson & Johnson
3.57% of portfolio
 		CSCO
Cisco Systems
3.30% of portfolio
 		MMM
3M Co.
3.26% of portfolio
 		MA
Mastercard Inc.
2.71% of portfolio
 		HYMLF
Hyundai Motor Co.
2.67% of portfolio
 		AXELF
Axel Springer AG
2.56% of portfolio
 		NWLI
National Western Life Group Inc.
2.42% of portfolio
 		BIDU
Baidu Inc.
2.31% of portfolio
 		ANFGF
Antofagasta plc
2.29% of portfolio
 		CMCSA
Comcast Corp.
2.21% of portfolio
2017   Q3$537 M HKHHF
Heineken Holding NV
5.20% of portfolio
 		WFC
Wells Fargo
4.49% of portfolio
 		SHEL
Shell plc
4.31% of portfolio
 		TTE
TotalEnergies SE
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 Mellon Corp.
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 ADR
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 Group Inc.
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
 		SHEL
Shell plc
4.00% of portfolio
 		TTE
TotalEnergies SE
4.00% of portfolio
 		BK
Bank of New York Mellon Corp.
3.96% of portfolio
 		MMM
3M Co.
3.88% of portfolio
 		CMCSA
Comcast Corp.
3.53% of portfolio
 		DEO
Diageo ADR
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 Group Inc.
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
 		TTE
TotalEnergies SE
4.27% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
4.17% of portfolio
 		SHEL
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 Mellon Corp.
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 ADR
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 Group Inc.
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
 		TTE
TotalEnergies SE
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 Mellon Corp.
4.05% of portfolio
 		NVS
Novartis AG
4.03% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.97% of portfolio
 		SHEL
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 ADR
3.24% of portfolio
 		JNJ
Johnson & Johnson
3.21% of portfolio
 		DVN
Devon Energy Corp.
2.84% of portfolio
 		NWLI
National Western Life Group Inc.
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
 		TTE
TotalEnergies SE
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 ADR
3.53% of portfolio
 		JNJ
Johnson & Johnson
3.45% of portfolio
 		SHEL
Shell plc
3.44% of portfolio
 		BK
Bank of New York Mellon Corp.
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
 		TTE
TotalEnergies SE
4.22% of portfolio
 		NSRGY
Nestle
3.92% of portfolio
 		SHEL
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 ADR
3.45% of portfolio
 		BK
Bank of New York Mellon Corp.
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
 		TTE
TotalEnergies SE
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
 		SHEL
Shell plc
3.34% of portfolio
 		DEO
Diageo ADR
3.33% of portfolio
 		CSCO
Cisco Systems
3.23% of portfolio
 		JNJ
Johnson & Johnson
3.21% of portfolio
 		BK
Bank of New York Mellon Corp.
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
 		TTE
TotalEnergies SE
3.75% of portfolio
 		NSRGY
Nestle
3.61% of portfolio
 		BK
Bank of New York Mellon Corp.
3.30% of portfolio
 		BRK.A
Berkshire Hathaway CL A
3.22% of portfolio
 		DEO
Diageo ADR
3.19% of portfolio
 		SHEL
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
 		MA
Mastercard Inc.
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
 		TTE
TotalEnergies SE
3.77% of portfolio
 		NSRGY
Nestle
3.71% of portfolio
 		BRK.A
Berkshire Hathaway CL A
3.24% of portfolio
 		DEO
Diageo ADR
3.21% of portfolio
 		BK
Bank of New York Mellon Corp.
3.19% of portfolio
 		SHEL
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
 		TTE
TotalEnergies SE
3.72% of portfolio
 		SHEL
Shell plc
3.35% of portfolio
 		NSRGY
Nestle
3.24% of portfolio
 		DVN
Devon Energy Corp.
3.22% of portfolio
 		DEO
Diageo ADR
3.15% of portfolio
 		BK
Bank of New York Mellon Corp.
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
 		TTE
TotalEnergies SE
3.84% of portfolio
 		SHEL
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 ADR
3.02% of portfolio
 		BK
Bank of New York Mellon Corp.
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
 		TTE
TotalEnergies SE
3.97% of portfolio
 		SHEL
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 ADR
3.12% of portfolio
 		BK
Bank of New York Mellon Corp.
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
 		TTE
TotalEnergies SE
4.76% of portfolio
 		JNJ
Johnson & Johnson
4.74% of portfolio
 		SHEL
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 ADR
2.99% of portfolio
 		BK
Bank of New York Mellon Corp.
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 TTE
TotalEnergies SE
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
 		SHEL
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 ADR
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 Mellon Corp.
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
 		TTE
TotalEnergies SE
4.82% of portfolio
 		NVS
Novartis AG
4.69% of portfolio
 		JNJ
Johnson & Johnson
4.39% of portfolio
 		SHEL
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 ADR
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 Mellon Corp.
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
 		TTE
TotalEnergies SE
4.44% of portfolio
 		NVS
Novartis AG
4.35% of portfolio
 		JNJ
Johnson & Johnson
4.03% of portfolio
 		NSRGY
Nestle
3.92% of portfolio
 		SHEL
Shell plc
3.90% of portfolio
 		WFC
Wells Fargo
3.54% of portfolio
 		DEO
Diageo ADR
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 Mellon Corp.
2.45% of portfolio
 		MMM
3M Co.
2.37% of portfolio
 		WMT
Walmart Inc.
2.30% of portfolio
 		BAX
Baxter International Inc.
2.20% of portfolio
2013   Q3$545 M TTE
TotalEnergies SE
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
 		SHEL
Shell plc
3.70% of portfolio
 		HKHHF
Heineken Holding NV
3.45% of portfolio
 		DEO
Diageo ADR
3.35% of portfolio
 		WFC
Wells Fargo
3.31% of portfolio
 		BK
Bank of New York Mellon Corp.
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
 		TTE
TotalEnergies SE
4.24% of portfolio
 		NVS
Novartis AG
4.19% of portfolio
 		JNJ
Johnson & Johnson
4.10% of portfolio
 		NSRGY
Nestle
3.80% of portfolio
 		SHEL
Shell plc
3.78% of portfolio
 		WFC
Wells Fargo
3.50% of portfolio
 		HKHHF
Heineken Holding NV
3.23% of portfolio
 		DEO
Diageo ADR
3.20% of portfolio
 		BK
Bank of New York Mellon Corp.
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
Walmart Inc.
2.36% of portfolio
 		JEF
Jefferies Financial Group Inc.
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
 		TTE
TotalEnergies SE
3.81% of portfolio
 		SHEL
Shell plc
3.74% of portfolio
 		HKHHF
Heineken Holding NV
3.65% of portfolio
 		DEO
Diageo ADR
3.46% of portfolio
 		WFC
Wells Fargo
3.10% of portfolio
 		BK
Bank of New York Mellon Corp.
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 TTE
TotalEnergies SE
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 ADR
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 Mellon Corp.
3.06% of portfolio
 		SHEL
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
Walmart Inc.
2.33% of portfolio
 		BRK.A
Berkshire Hathaway CL A
2.25% of portfolio
 		JEF
Jefferies Financial Group Inc.
2.22% of portfolio
2012   Q3$443 M TTE
TotalEnergies SE
4.65% of portfolio
 		NSRGY
Nestle
4.25% of portfolio
 		NVS
Novartis AG
4.21% of portfolio
 		DEO
Diageo ADR
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
 		SHEL
Shell plc
3.23% of portfolio
 		BK
Bank of New York Mellon Corp.
2.90% of portfolio
 		HENKY
Henkel KGAA
2.85% of portfolio
 		COP
ConocoPhillips
2.73% of portfolio
 		WMT
Walmart Inc.
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
 		JEF
Jefferies Financial Group Inc.
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 ADR
3.90% of portfolio
 		RHHVF
Roche Holdings AG DIV RT
3.84% of portfolio
 		HKHHF
Heineken Holding NV
3.79% of portfolio
 		TTE
TotalEnergies SE
3.76% of portfolio
 		WFC
Wells Fargo
3.51% of portfolio
 		SHEL
Shell plc
3.31% of portfolio
 		BK
Bank of New York Mellon Corp.
2.94% of portfolio
 		COP
ConocoPhillips
2.84% of portfolio
 		WMT
Walmart Inc.
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
 		JEF
Jefferies Financial Group Inc.
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
 		TTE
TotalEnergies SE
3.98% of portfolio
 		DEO
Diageo ADR
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
Walmart Inc.
3.39% of portfolio
 		JNJ
Johnson & Johnson
3.37% of portfolio
 		SHEL
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
 		JEF
Jefferies Financial Group Inc.
2.17% of portfolio
2011   Q4$388 M DEO
Diageo ADR
5.21% of portfolio
 		PM
Philip Morris Intl.
4.93% of portfolio
 		NSRGY
Nestle
4.44% of portfolio
 		TTE
TotalEnergies SE
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
Walmart Inc.
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
 		JEF
Jefferies Financial Group Inc.
2.09% of portfolio
2011   Q3$359 M DEO
Diageo ADR
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
 		TTE
TotalEnergies SE
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
Walmart Inc.
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
 		JEF
Jefferies Financial Group Inc.
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 ADR
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
 		TTE
TotalEnergies SE
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
Walmart Inc.
2.96% of portfolio
 		JEF
Jefferies Financial Group Inc.
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
 		UNLYF
Unilever Ord Shares
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 ADR
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
 		TTE
TotalEnergies SE
3.60% of portfolio
 		ZFSVF
Zurich Insurance Group AG
3.35% of portfolio
 		JEF
Jefferies Financial Group Inc.
3.08% of portfolio
 		DVN
Devon Energy Corp.
2.87% of portfolio
 		WMT
Walmart Inc.
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
 		UNLYF
Unilever Ord Shares
2.14% of portfolio
 		CNPAF
CNP Assurances
2.13% of portfolio
2010   Q4$393 M NSRGY
Nestle
5.40% of portfolio
 		DEO
Diageo ADR
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
 		TTE
TotalEnergies SE
3.28% of portfolio
 		WMT
Walmart Inc.
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
 		JEF
Jefferies Financial Group Inc.
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
 		UNLYF
Unilever Ord Shares
2.38% of portfolio
 		BAX
Baxter International Inc.
2.28% of portfolio
 		NWLI
National Western Life Group Inc.
2.21% of portfolio
2010   Q3$366 M NSRGY
Nestle
5.26% of portfolio
 		DEO
Diageo ADR
4.82% of portfolio
 		HKHHF
Heineken Holding NV
4.46% of portfolio
 		PM
Philip Morris Intl.
4.04% of portfolio
 		WMT
Walmart Inc.
3.48% of portfolio
 		TTE
TotalEnergies SE
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
 		UNLYF
Unilever Ord Shares
2.43% of portfolio
 		DVN
Devon Energy Corp.
2.41% of portfolio
 		COP
ConocoPhillips
2.41% of portfolio
 		LIN
Linde plc
2.36% of portfolio
 		JEF
Jefferies Financial Group Inc.
2.30% of portfolio
 		BAX
Baxter International Inc.
2.30% of portfolio
2010   Q2$314 M NSRGY
Nestle
5.54% of portfolio
 		DEO
Diageo ADR
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
Walmart Inc.
3.64% of portfolio
 		TTE
TotalEnergies SE
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
 		UNLYF
Unilever Ord Shares
2.59% of portfolio
 		NWLI
National Western Life Group Inc.
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 ADR
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
Walmart Inc.
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-OLD
American National Group Inc.
3.32% of portfolio
 		TTE
TotalEnergies SE
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 Group Inc.
2.62% of portfolio
 		CNPAF
CNP Assurances
2.56% of portfolio
 		UNLYF
Unilever Ord Shares
2.45% of portfolio
 		JEF
Jefferies Financial Group Inc.
2.42% of portfolio
 		DVN
Devon Energy Corp.
2.40% of portfolio
2009   Q4$367 M DEO
Diageo ADR
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-OLD
American National Group Inc.
3.48% of portfolio
 		WMT
Walmart Inc.
3.47% of portfolio
 		TTE
TotalEnergies SE
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
 		LIN
Linde plc
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 ADR
4.59% of portfolio
 		NSRGY
Nestle
4.49% of portfolio
 		LIN
Linde plc
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
Walmart Inc.
3.41% of portfolio
 		TTE
TotalEnergies SE
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 Group Inc.
2.67% of portfolio
 		ANAT-OLD
American National Group Inc.
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 ADR
4.70% of portfolio
 		NSRGY
Nestle
4.53% of portfolio
 		WMT
Walmart Inc.
3.69% of portfolio
 		LIN
Linde plc
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
 		TTE
TotalEnergies SE
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-OLD
American National Group Inc.
2.59% of portfolio
 		HENKY
Henkel KGAA
2.43% of portfolio
 		JEF
Jefferies Financial Group Inc.
2.41% of portfolio
 		DVN
Devon Energy Corp.
2.38% of portfolio
 		UL
Unilever PLC
2.33% of portfolio
 		UNLYF
Unilever Ord Shares
2.31% of portfolio
2009   Q1$257 M NSRGY
Nestle
5.61% of portfolio
 		WMT
Walmart Inc.
4.82% of portfolio
 		DEO
Diageo ADR
4.80% of portfolio
 		HKHHF
Heineken Holding NV
4.63% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
3.79% of portfolio
 		LIN
Linde plc
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
 		TTE
TotalEnergies SE
2.76% of portfolio
 		MURGF
Muenchener Rueckversicherungs Gesellschaft AG
2.72% of portfolio
 		UNP
Union Pacific
2.55% of portfolio
 		UNLYF
Unilever Ord Shares
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 Group Inc.
2.29% of portfolio
2008   Q4$266 M NSRGY
Nestle
9.43% of portfolio
 		DEO
Diageo ADR
5.90% of portfolio
 		WMT
Walmart Inc.
5.83% of portfolio
 		HKHHF
Heineken Holding NV
5.24% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
4.61% of portfolio
 		GL
Globe Life Inc.
3.34% of portfolio
 		NWLI
National Western Life Group Inc.
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
 		UNLYF
Unilever Ord Shares
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
 		JEF
Jefferies Financial Group Inc.
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 ADR
5.81% of portfolio
 		WMT
Walmart Inc.
5.06% of portfolio
 		JEF
Jefferies Financial Group Inc.
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 Group Inc.
3.86% of portfolio
 		GL
Globe Life Inc.
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
 		UNLYF
Unilever Ord Shares
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-OLD
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 ADR
6.17% of portfolio
 		JEF
Jefferies Financial Group Inc.
5.07% of portfolio
 		WMT
Walmart Inc.
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 Group Inc.
3.74% of portfolio
 		GL
Globe Life Inc.
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
 		UNLYF
Unilever Ord Shares
2.78% of portfolio
 		UL
Unilever PLC
2.65% of portfolio
 		FII-OLD
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 ADR
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
 		JEF
Jefferies Financial Group Inc.
4.24% of portfolio
 		TRH
Transatlantic Holdings Inc.
3.99% of portfolio
 		WMT
Walmart Inc.
3.82% of portfolio
 		AIG
American International Group
3.74% of portfolio
 		GL
Globe Life Inc.
3.60% of portfolio
 		FII-OLD
Federated Investors Inc.
3.54% of portfolio
 		NWLI
National Western Life Group Inc.
3.22% of portfolio
 		UNLYF
Unilever Ord Shares
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 ADR
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
 		JEF
Jefferies Financial Group Inc.
4.22% of portfolio
 		TRH
Transatlantic Holdings Inc.
4.18% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
3.91% of portfolio
 		GL
Globe Life Inc.
3.85% of portfolio
 		FII-OLD
Federated Investors Inc.
3.56% of portfolio
 		SKM
SK Telecom Co. Ltd.
3.50% of portfolio
 		HD
Home Depot
3.46% of portfolio
 		WMT
Walmart Inc.
3.30% of portfolio
 		UNLYF
Unilever Ord Shares
2.96% of portfolio
 		NWLI
National Western Life Group Inc.
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 ADR
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-OLD
Federated Investors Inc.
4.06% of portfolio
 		PNC
PNC Financial Services
3.61% of portfolio
 		JEF
Jefferies Financial Group Inc.
3.56% of portfolio
 		GL
Globe Life Inc.
3.26% of portfolio
 		NWLI
National Western Life Group Inc.
3.00% of portfolio
 		FMCC
Federal Home Loan Mortgage Corp.
2.91% of portfolio
 		SKM
SK Telecom Co. Ltd.
2.87% of portfolio
 		WMT
Walmart Inc.
2.49% of portfolio
 		BAC
Bank of America Corp.
2.22% of portfolio
 		HD
Home Depot
2.21% of portfolio
 		UNLYF
Unilever Ord Shares
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 ADR
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-OLD
Federated Investors Inc.
4.06% of portfolio
 		PNC
PNC Financial Services
3.92% of portfolio
 		ABN
ABN AMRO Holding NV
3.82% of portfolio
 		GL
Globe Life Inc.
3.63% of portfolio
 		FMCC
Federal Home Loan Mortgage Corp.
3.10% of portfolio
 		NWLI
National Western Life Group Inc.
3.07% of portfolio
 		WMT
Walmart Inc.
2.85% of portfolio
 		HD
Home Depot
2.78% of portfolio
 		SKM
SK Telecom Co. Ltd.
2.73% of portfolio
 		JEF
Jefferies Financial Group Inc.
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 ADR
4.72% of portfolio
 		PNC
PNC Financial Services
4.66% of portfolio
 		WFC
Wells Fargo
4.52% of portfolio
 		FII-OLD
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 Group Inc.
3.84% of portfolio
 		ABN
ABN AMRO Holding NV
3.54% of portfolio
 		GL
Globe Life Inc.
3.51% of portfolio
 		FMCC
Federal Home Loan Mortgage Corp.
3.38% of portfolio
 		WMT
Walmart Inc.
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
 		JEF
Jefferies Financial Group Inc.
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 ADR
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-OLD
Federated Investors Inc.
3.74% of portfolio
 		FMCC
Federal Home Loan Mortgage Corp.
3.70% of portfolio
 		NWLI
National Western Life Group Inc.
3.48% of portfolio
 		GL
Globe Life Inc.
3.28% of portfolio
 		PFE
Pfizer Inc.
3.10% of portfolio
 		HD
Home Depot
2.69% of portfolio
 		WMT
Walmart Inc.
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