Historical Stock Holdings

Warren Buffett - Berkshire Hathaway

PeriodPortfolio ValueTop 20 holdings history (left to right)
2023   Q4$347.4 B AAPL
Apple Inc.
50.19% of portfolio
 		BAC
Bank of America Corp.
10.01% of portfolio
 		AXP
American Express
8.18% of portfolio
 		KO
Coca Cola Co.
6.79% of portfolio
 		CVX
Chevron Corp.
5.41% of portfolio
 		OXY
Occidental Petroleum
4.19% of portfolio
 		KHC
Kraft Heinz Co.
3.47% of portfolio
 		MCO
Moody's Corp.
2.77% of portfolio
 		DVA
DaVita HealthCare Partners
1.09% of portfolio
 		C
Citigroup Inc.
0.82% of portfolio
 		VRSN
Verisign Inc.
0.76% of portfolio
 		KR
Kroger Co.
0.66% of portfolio
 		V
Visa Inc.
0.62% of portfolio
 		MA
Mastercard Inc.
0.49% of portfolio
 		COF
Capital One Financial
0.47% of portfolio
 		AMZN
Amazon.com Inc.
0.44% of portfolio
 		CHTR
Charter Communications
0.43% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.36% of portfolio
 		SNOW
Snowflake Inc.
0.35% of portfolio
 		AON
Aon Plc
0.34% of portfolio
2023   Q3$313.3 B AAPL
Apple Inc.
50.04% of portfolio
 		BAC
Bank of America Corp.
9.03% of portfolio
 		AXP
American Express
7.22% of portfolio
 		KO
Coca Cola Co.
7.15% of portfolio
 		CVX
Chevron Corp.
5.93% of portfolio
 		OXY
Occidental Petroleum
4.64% of portfolio
 		KHC
Kraft Heinz Co.
3.50% of portfolio
 		MCO
Moody's Corp.
2.49% of portfolio
 		DVA
DaVita HealthCare Partners
1.09% of portfolio
 		HPQ
HP Inc.
0.84% of portfolio
 		VRSN
Verisign Inc.
0.83% of portfolio
 		C
Citigroup Inc.
0.73% of portfolio
 		KR
Kroger Co.
0.71% of portfolio
 		V
Visa Inc.
0.61% of portfolio
 		CHTR
Charter Communications
0.54% of portfolio
 		MA
Mastercard Inc.
0.50% of portfolio
 		AON
Aon Plc
0.42% of portfolio
 		AMZN
Amazon.com Inc.
0.41% of portfolio
 		COF
Capital One Financial
0.39% of portfolio
 		PARA
Paramount Global CL B
0.39% of portfolio
2023   Q2$348.2 B AAPL
Apple Inc.
51.00% of portfolio
 		BAC
Bank of America Corp.
8.51% of portfolio
 		AXP
American Express
7.59% of portfolio
 		KO
Coca Cola Co.
6.92% of portfolio
 		CVX
Chevron Corp.
5.56% of portfolio
 		OXY
Occidental Petroleum
3.78% of portfolio
 		KHC
Kraft Heinz Co.
3.32% of portfolio
 		MCO
Moody's Corp.
2.46% of portfolio
 		HPQ
HP Inc.
1.07% of portfolio
 		DVA
DaVita HealthCare Partners
1.04% of portfolio
 		VRSN
Verisign Inc.
0.83% of portfolio
 		C
Citigroup Inc.
0.73% of portfolio
 		KR
Kroger Co.
0.67% of portfolio
 		V
Visa Inc.
0.57% of portfolio
 		MA
Mastercard Inc.
0.45% of portfolio
 		PARA
Paramount Global CL B
0.43% of portfolio
 		AON
Aon Plc
0.43% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.41% of portfolio
 		CHTR
Charter Communications
0.40% of portfolio
 		AMZN
Amazon.com Inc.
0.40% of portfolio
2023   Q1$325.1 B AAPL
Apple Inc.
46.44% of portfolio
 		BAC
Bank of America Corp.
9.09% of portfolio
 		AXP
American Express
7.69% of portfolio
 		KO
Coca Cola Co.
7.63% of portfolio
 		CVX
Chevron Corp.
6.65% of portfolio
 		OXY
Occidental Petroleum
4.07% of portfolio
 		KHC
Kraft Heinz Co.
3.87% of portfolio
 		MCO
Moody's Corp.
2.32% of portfolio
 		ATVI
Activision Blizzard Inc.
1.30% of portfolio
 		HPQ
HP Inc.
1.09% of portfolio
 		DVA
DaVita HealthCare Partners
0.90% of portfolio
 		VRSN
Verisign Inc.
0.83% of portfolio
 		C
Citigroup Inc.
0.80% of portfolio
 		KR
Kroger Co.
0.76% of portfolio
 		PARA
Paramount Global CL B
0.64% of portfolio
 		V
Visa Inc.
0.58% of portfolio
 		GM
General Motors
0.45% of portfolio
 		MA
Mastercard Inc.
0.45% of portfolio
 		CHTR
Charter Communications
0.42% of portfolio
 		AON
Aon Plc
0.42% of portfolio
2022   Q4$299 B AAPL
Apple Inc.
38.90% of portfolio
 		BAC
Bank of America Corp.
11.19% of portfolio
 		CVX
Chevron Corp.
9.78% of portfolio
 		KO
Coca Cola Co.
8.51% of portfolio
 		AXP
American Express
7.49% of portfolio
 		KHC
Kraft Heinz Co.
4.43% of portfolio
 		OXY
Occidental Petroleum
4.09% of portfolio
 		MCO
Moody's Corp.
2.30% of portfolio
 		ATVI
Activision Blizzard Inc.
1.35% of portfolio
 		HPQ
HP Inc.
0.94% of portfolio
 		DVA
DaVita HealthCare Partners
0.90% of portfolio
 		VRSN
Verisign Inc.
0.88% of portfolio
 		C
Citigroup Inc.
0.83% of portfolio
 		KR
Kroger Co.
0.75% of portfolio
 		V
Visa Inc.
0.58% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.57% of portfolio
 		GM
General Motors
0.56% of portfolio
 		PARA
Paramount Global CL B
0.53% of portfolio
 		MA
Mastercard Inc.
0.46% of portfolio
 		AON
Aon Plc
0.44% of portfolio
2022   Q3$296.1 B AAPL
Apple Inc.
41.76% of portfolio
 		BAC
Bank of America Corp.
10.30% of portfolio
 		CVX
Chevron Corp.
8.02% of portfolio
 		KO
Coca Cola Co.
7.57% of portfolio
 		AXP
American Express
6.91% of portfolio
 		OXY
Occidental Petroleum
4.03% of portfolio
 		KHC
Kraft Heinz Co.
3.67% of portfolio
 		MCO
Moody's Corp.
2.03% of portfolio
 		ATVI
Activision Blizzard Inc.
1.51% of portfolio
 		TSM
Taiwan Semiconductor S.A.
1.39% of portfolio
 		USB
U.S. Bancorp
1.06% of portfolio
 		DVA
DaVita HealthCare Partners
1.01% of portfolio
 		HPQ
HP Inc.
0.88% of portfolio
 		BK
Bank of New York Mellon Corp.
0.81% of portfolio
 		C
Citigroup Inc.
0.78% of portfolio
 		VRSN
Verisign Inc.
0.75% of portfolio
 		KR
Kroger Co.
0.74% of portfolio
 		PARA
Paramount Global CL B
0.59% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.55% of portfolio
 		GM
General Motors
0.54% of portfolio
2022   Q2$300.1 B AAPL
Apple Inc.
40.76% of portfolio
 		BAC
Bank of America Corp.
10.48% of portfolio
 		KO
Coca Cola Co.
8.38% of portfolio
 		CVX
Chevron Corp.
7.79% of portfolio
 		AXP
American Express
7.00% of portfolio
 		KHC
Kraft Heinz Co.
4.14% of portfolio
 		OXY
Occidental Petroleum
3.11% of portfolio
 		MCO
Moody's Corp.
2.24% of portfolio
 		USB
U.S. Bancorp
1.84% of portfolio
 		ATVI
Activision Blizzard Inc.
1.77% of portfolio
 		HPQ
HP Inc.
1.14% of portfolio
 		BK
Bank of New York Mellon Corp.
1.01% of portfolio
 		DVA
DaVita HealthCare Partners
0.96% of portfolio
 		C
Citigroup Inc.
0.85% of portfolio
 		KR
Kroger Co.
0.83% of portfolio
 		VRSN
Verisign Inc.
0.71% of portfolio
 		PARA
Paramount Global CL B
0.64% of portfolio
 		CHTR
Charter Communications
0.60% of portfolio
 		GM
General Motors
0.56% of portfolio
 		V
Visa Inc.
0.54% of portfolio
2022   Q1$363.6 B AAPL
Apple Inc.
42.79% of portfolio
 		BAC
Bank of America Corp.
11.45% of portfolio
 		AXP
American Express
7.80% of portfolio
 		CVX
Chevron Corp.
7.13% of portfolio
 		KO
Coca Cola Co.
6.82% of portfolio
 		KHC
Kraft Heinz Co.
3.53% of portfolio
 		MCO
Moody's Corp.
2.29% of portfolio
 		OXY
Occidental Petroleum
2.13% of portfolio
 		USB
U.S. Bancorp
1.85% of portfolio
 		ATVI
Activision Blizzard Inc.
1.42% of portfolio
 		DVA
DaVita HealthCare Partners
1.12% of portfolio
 		HPQ
HP Inc.
1.04% of portfolio
 		BK
Bank of New York Mellon Corp.
0.99% of portfolio
 		KR
Kroger Co.
0.92% of portfolio
 		C
Citigroup Inc.
0.81% of portfolio
 		VRSN
Verisign Inc.
0.78% of portfolio
 		GM
General Motors
0.75% of portfolio
 		PARA
Paramount Global CL B
0.72% of portfolio
 		CHTR
Charter Communications
0.57% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.54% of portfolio
2021   Q4$331 B AAPL
Apple Inc.
47.60% of portfolio
 		BAC
Bank of America Corp.
13.58% of portfolio
 		AXP
American Express
7.49% of portfolio
 		KO
Coca Cola Co.
7.16% of portfolio
 		KHC
Kraft Heinz Co.
3.53% of portfolio
 		MCO
Moody's Corp.
2.91% of portfolio
 		VZ
Verizon Communications
2.49% of portfolio
 		USB
U.S. Bancorp
2.15% of portfolio
 		CVX
Chevron Corp.
1.36% of portfolio
 		BK
Bank of New York Mellon Corp.
1.27% of portfolio
 		DVA
DaVita HealthCare Partners
1.24% of portfolio
 		GM
General Motors
1.06% of portfolio
 		VRSN
Verisign Inc.
0.98% of portfolio
 		KR
Kroger Co.
0.84% of portfolio
 		CHTR
Charter Communications
0.75% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.66% of portfolio
 		SNOW
Snowflake Inc.
0.63% of portfolio
 		V
Visa Inc.
0.54% of portfolio
 		AMZN
Amazon.com Inc.
0.54% of portfolio
 		MA
Mastercard Inc.
0.43% of portfolio
2021   Q3$293.4 B AAPL
Apple Inc.
42.78% of portfolio
 		BAC
Bank of America Corp.
14.61% of portfolio
 		AXP
American Express
8.66% of portfolio
 		KO
Coca Cola Co.
7.15% of portfolio
 		KHC
Kraft Heinz Co.
4.09% of portfolio
 		MCO
Moody's Corp.
2.99% of portfolio
 		VZ
Verizon Communications
2.92% of portfolio
 		USB
U.S. Bancorp
2.56% of portfolio
 		DVA
DaVita HealthCare Partners
1.43% of portfolio
 		BK
Bank of New York Mellon Corp.
1.28% of portfolio
 		GM
General Motors
1.08% of portfolio
 		CHTR
Charter Communications
1.04% of portfolio
 		CVX
Chevron Corp.
0.99% of portfolio
 		VRSN
Verisign Inc.
0.90% of portfolio
 		KR
Kroger Co.
0.85% of portfolio
 		V
Visa Inc.
0.73% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.70% of portfolio
 		SNOW
Snowflake Inc.
0.63% of portfolio
 		AMZN
Amazon.com Inc.
0.60% of portfolio
 		ABBV
AbbVie Inc.
0.53% of portfolio
2021   Q2$293 B AAPL
Apple Inc.
41.46% of portfolio
 		BAC
Bank of America Corp.
14.21% of portfolio
 		AXP
American Express
8.55% of portfolio
 		KO
Coca Cola Co.
7.39% of portfolio
 		KHC
Kraft Heinz Co.
4.53% of portfolio
 		MCO
Moody's Corp.
3.05% of portfolio
 		VZ
Verizon Communications
3.04% of portfolio
 		USB
U.S. Bancorp
2.51% of portfolio
 		DVA
DaVita HealthCare Partners
1.48% of portfolio
 		CHTR
Charter Communications
1.28% of portfolio
 		BK
Bank of New York Mellon Corp.
1.27% of portfolio
 		GM
General Motors
1.21% of portfolio
 		VRSN
Verisign Inc.
1.00% of portfolio
 		CVX
Chevron Corp.
0.83% of portfolio
 		KR
Kroger Co.
0.81% of portfolio
 		V
Visa Inc.
0.80% of portfolio
 		ABBV
AbbVie Inc.
0.79% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.68% of portfolio
 		AMZN
Amazon.com Inc.
0.63% of portfolio
 		BMY
Bristol-Myers Squibb
0.60% of portfolio
2021   Q1$270.4 B AAPL
Apple Inc.
40.07% of portfolio
 		BAC
Bank of America Corp.
14.45% of portfolio
 		AXP
American Express
7.93% of portfolio
 		KO
Coca Cola Co.
7.80% of portfolio
 		KHC
Kraft Heinz Co.
4.82% of portfolio
 		VZ
Verizon Communications
3.42% of portfolio
 		MCO
Moody's Corp.
2.72% of portfolio
 		USB
U.S. Bancorp
2.65% of portfolio
 		DVA
DaVita HealthCare Partners
1.44% of portfolio
 		GM
General Motors
1.42% of portfolio
 		BK
Bank of New York Mellon Corp.
1.27% of portfolio
 		CHTR
Charter Communications
1.19% of portfolio
 		VRSN
Verisign Inc.
0.94% of portfolio
 		ABBV
AbbVie Inc.
0.92% of portfolio
 		CVX
Chevron Corp.
0.92% of portfolio
 		V
Visa Inc.
0.78% of portfolio
 		BMY
Bristol-Myers Squibb
0.72% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.70% of portfolio
 		KR
Kroger Co.
0.68% of portfolio
 		AMZN
Amazon.com Inc.
0.61% of portfolio
2020   Q4$269.9 B AAPL
Apple Inc.
43.61% of portfolio
 		BAC
Bank of America Corp.
11.34% of portfolio
 		KO
Coca Cola Co.
8.13% of portfolio
 		AXP
American Express
6.79% of portfolio
 		KHC
Kraft Heinz Co.
4.18% of portfolio
 		VZ
Verizon Communications
3.19% of portfolio
 		MCO
Moody's Corp.
2.65% of portfolio
 		USB
U.S. Bancorp
2.26% of portfolio
 		DVA
DaVita HealthCare Partners
1.57% of portfolio
 		CVX
Chevron Corp.
1.52% of portfolio
 		CHTR
Charter Communications
1.28% of portfolio
 		BK
Bank of New York Mellon Corp.
1.14% of portfolio
 		GM
General Motors
1.12% of portfolio
 		VRSN
Verisign Inc.
1.03% of portfolio
 		ABBV
AbbVie Inc.
1.01% of portfolio
 		MRK
Merck & Co.
0.87% of portfolio
 		V
Visa Inc.
0.81% of portfolio
 		BMY
Bristol-Myers Squibb
0.77% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.70% of portfolio
 		SNOW
Snowflake Inc.
0.64% of portfolio
2020   Q3$235.9 B AAPL
Apple Inc.
46.35% of portfolio
 		BAC
Bank of America Corp.
10.31% of portfolio
 		KO
Coca Cola Co.
8.37% of portfolio
 		AXP
American Express
6.44% of portfolio
 		KHC
Kraft Heinz Co.
4.13% of portfolio
 		MCO
Moody's Corp.
3.03% of portfolio
 		USB
U.S. Bancorp
2.01% of portfolio
 		VZ
Verizon Communications
1.47% of portfolio
 		CHTR
Charter Communications
1.38% of portfolio
 		CVX
Chevron Corp.
1.35% of portfolio
 		DVA
DaVita HealthCare Partners
1.31% of portfolio
 		WFC
Wells Fargo
1.27% of portfolio
 		VRSN
Verisign Inc.
1.11% of portfolio
 		BK
Bank of New York Mellon Corp.
1.05% of portfolio
 		GM
General Motors
1.00% of portfolio
 		V
Visa Inc.
0.85% of portfolio
 		ABBV
AbbVie Inc.
0.79% of portfolio
 		MRK
Merck & Co.
0.79% of portfolio
 		BMY
Bristol-Myers Squibb
0.77% of portfolio
 		AMZN
Amazon.com Inc.
0.71% of portfolio
2020   Q2$202.4 B AAPL
Apple Inc.
44.18% of portfolio
 		BAC
Bank of America Corp.
10.85% of portfolio
 		KO
Coca Cola Co.
8.83% of portfolio
 		AXP
American Express
7.13% of portfolio
 		KHC
Kraft Heinz Co.
5.13% of portfolio
 		MCO
Moody's Corp.
3.35% of portfolio
 		WFC
Wells Fargo
3.00% of portfolio
 		USB
U.S. Bancorp
2.40% of portfolio
 		DVA
DaVita HealthCare Partners
1.49% of portfolio
 		BK
Bank of New York Mellon Corp.
1.38% of portfolio
 		CHTR
Charter Communications
1.31% of portfolio
 		VRSN
Verisign Inc.
1.31% of portfolio
 		JPM
JPMorgan Chase & Co.
1.03% of portfolio
 		V
Visa Inc.
0.95% of portfolio
 		GM
General Motors
0.93% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.74% of portfolio
 		AMZN
Amazon.com Inc.
0.73% of portfolio
 		MA
Mastercard Inc.
0.67% of portfolio
 		COST
Costco Co.
0.65% of portfolio
 		KR
Kroger Co.
0.37% of portfolio
2020   Q1$175.5 B AAPL
Apple Inc.
35.52% of portfolio
 		BAC
Bank of America Corp.
11.19% of portfolio
 		KO
Coca Cola Co.
10.08% of portfolio
 		AXP
American Express
7.39% of portfolio
 		WFC
Wells Fargo
5.28% of portfolio
 		KHC
Kraft Heinz Co.
4.59% of portfolio
 		MCO
Moody's Corp.
2.97% of portfolio
 		JPM
JPMorgan Chase & Co.
2.96% of portfolio
 		USB
U.S. Bancorp
2.60% of portfolio
 		DVA
DaVita HealthCare Partners
1.65% of portfolio
 		BK
Bank of New York Mellon Corp.
1.53% of portfolio
 		CHTR
Charter Communications
1.35% of portfolio
 		VRSN
Verisign Inc.
1.31% of portfolio
 		DAL
Delta Air Lines Inc.
1.17% of portfolio
 		LUV
Southwest Airlines
1.09% of portfolio
 		V
Visa Inc.
0.97% of portfolio
 		GM
General Motors
0.88% of portfolio
 		COST
Costco Co.
0.70% of portfolio
 		MA
Mastercard Inc.
0.68% of portfolio
 		AMZN
Amazon.com Inc.
0.59% of portfolio
2019   Q4$242.1 B AAPL
Apple Inc.
29.74% of portfolio
 		BAC
Bank of America Corp.
13.46% of portfolio
 		KO
Coca Cola Co.
9.15% of portfolio
 		AXP
American Express
7.80% of portfolio
 		WFC
Wells Fargo
7.18% of portfolio
 		KHC
Kraft Heinz Co.
4.32% of portfolio
 		JPM
JPMorgan Chase & Co.
3.43% of portfolio
 		USB
U.S. Bancorp
3.24% of portfolio
 		MCO
Moody's Corp.
2.42% of portfolio
 		DAL
Delta Air Lines Inc.
1.71% of portfolio
 		BK
Bank of New York Mellon Corp.
1.66% of portfolio
 		DVA
DaVita HealthCare Partners
1.20% of portfolio
 		LUV
Southwest Airlines
1.20% of portfolio
 		GS
Goldman Sachs Group
1.14% of portfolio
 		GM
General Motors
1.13% of portfolio
 		CHTR
Charter Communications
1.09% of portfolio
 		VRSN
Verisign Inc.
1.03% of portfolio
 		V
Visa Inc.
0.82% of portfolio
 		UAL
United Airlines Holdings Inc.
0.80% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.62% of portfolio
2019   Q3$214.7 B AAPL
Apple Inc.
25.96% of portfolio
 		BAC
Bank of America Corp.
12.60% of portfolio
 		KO
Coca Cola Co.
10.14% of portfolio
 		WFC
Wells Fargo
8.89% of portfolio
 		AXP
American Express
8.35% of portfolio
 		KHC
Kraft Heinz Co.
4.24% of portfolio
 		USB
U.S. Bancorp
3.41% of portfolio
 		JPM
JPMorgan Chase & Co.
3.26% of portfolio
 		MCO
Moody's Corp.
2.35% of portfolio
 		DAL
Delta Air Lines Inc.
1.90% of portfolio
 		GS
Goldman Sachs Group
1.77% of portfolio
 		BK
Bank of New York Mellon Corp.
1.70% of portfolio
 		LUV
Southwest Airlines
1.35% of portfolio
 		GM
General Motors
1.26% of portfolio
 		VRSN
Verisign Inc.
1.14% of portfolio
 		CHTR
Charter Communications
1.04% of portfolio
 		DVA
DaVita HealthCare Partners
1.03% of portfolio
 		UAL
United Airlines Holdings Inc.
0.90% of portfolio
 		V
Visa Inc.
0.85% of portfolio
 		MA
Mastercard Inc.
0.62% of portfolio
2019   Q2$208.1 B AAPL
Apple Inc.
23.74% of portfolio
 		BAC
Bank of America Corp.
12.92% of portfolio
 		KO
Coca Cola Co.
9.79% of portfolio
 		WFC
Wells Fargo
9.32% of portfolio
 		AXP
American Express
8.99% of portfolio
 		KHC
Kraft Heinz Co.
4.86% of portfolio
 		USB
U.S. Bancorp
3.34% of portfolio
 		JPM
JPMorgan Chase & Co.
3.20% of portfolio
 		MCO
Moody's Corp.
2.32% of portfolio
 		DAL
Delta Air Lines Inc.
1.93% of portfolio
 		GS
Goldman Sachs Group
1.80% of portfolio
 		BK
Bank of New York Mellon Corp.
1.72% of portfolio
 		GM
General Motors
1.34% of portfolio
 		LUV
Southwest Airlines
1.31% of portfolio
 		VRSN
Verisign Inc.
1.30% of portfolio
 		DVA
DaVita HealthCare Partners
1.04% of portfolio
 		CHTR
Charter Communications
1.03% of portfolio
 		UAL
United Airlines Holdings Inc.
0.92% of portfolio
 		V
Visa Inc.
0.88% of portfolio
 		AAL
American Airlines Group Inc.
0.68% of portfolio
2019   Q1$199.5 B AAPL
Apple Inc.
23.77% of portfolio
 		BAC
Bank of America Corp.
12.39% of portfolio
 		WFC
Wells Fargo
9.93% of portfolio
 		KO
Coca Cola Co.
9.40% of portfolio
 		AXP
American Express
8.31% of portfolio
 		KHC
Kraft Heinz Co.
5.33% of portfolio
 		USB
U.S. Bancorp
3.12% of portfolio
 		JPM
JPMorgan Chase & Co.
3.02% of portfolio
 		MCO
Moody's Corp.
2.24% of portfolio
 		BK
Bank of New York Mellon Corp.
2.05% of portfolio
 		DAL
Delta Air Lines Inc.
1.84% of portfolio
 		GS
Goldman Sachs Group
1.77% of portfolio
 		LUV
Southwest Airlines
1.40% of portfolio
 		GM
General Motors
1.34% of portfolio
 		VRSN
Verisign Inc.
1.18% of portfolio
 		DVA
DaVita HealthCare Partners
1.05% of portfolio
 		CHTR
Charter Communications
0.99% of portfolio
 		UAL
United Airlines Holdings Inc.
0.88% of portfolio
 		USG
USG Corp.
0.85% of portfolio
 		V
Visa Inc.
0.83% of portfolio
2018   Q4$183.1 B AAPL
Apple Inc.
21.51% of portfolio
 		BAC
Bank of America Corp.
12.06% of portfolio
 		WFC
Wells Fargo
10.74% of portfolio
 		KO
Coca Cola Co.
10.35% of portfolio
 		AXP
American Express
7.89% of portfolio
 		KHC
Kraft Heinz Co.
7.66% of portfolio
 		USB
U.S. Bancorp
3.23% of portfolio
 		JPM
JPMorgan Chase & Co.
2.67% of portfolio
 		BK
Bank of New York Mellon Corp.
2.08% of portfolio
 		MCO
Moody's Corp.
1.89% of portfolio
 		DAL
Delta Air Lines Inc.
1.79% of portfolio
 		GS
Goldman Sachs Group
1.67% of portfolio
 		LUV
Southwest Airlines
1.39% of portfolio
 		GM
General Motors
1.32% of portfolio
 		CHTR
Charter Communications
1.09% of portfolio
 		DVA
DaVita HealthCare Partners
1.08% of portfolio
 		VRSN
Verisign Inc.
1.05% of portfolio
 		UAL
United Airlines Holdings Inc.
1.00% of portfolio
 		USG
USG Corp.
0.91% of portfolio
 		AAL
American Airlines Group Inc.
0.77% of portfolio
2018   Q3$221 B AAPL
Apple Inc.
25.79% of portfolio
 		BAC
Bank of America Corp.
11.69% of portfolio
 		WFC
Wells Fargo
10.52% of portfolio
 		KO
Coca Cola Co.
8.36% of portfolio
 		KHC
Kraft Heinz Co.
8.12% of portfolio
 		AXP
American Express
7.30% of portfolio
 		USB
U.S. Bancorp
2.98% of portfolio
 		MCO
Moody's Corp.
1.87% of portfolio
 		GS
Goldman Sachs Group
1.86% of portfolio
 		JPM
JPMorgan Chase & Co.
1.82% of portfolio
 		BK
Bank of New York Mellon Corp.
1.80% of portfolio
 		DAL
Delta Air Lines Inc.
1.71% of portfolio
 		LUV
Southwest Airlines
1.58% of portfolio
 		DVA
DaVita HealthCare Partners
1.25% of portfolio
 		CHTR
Charter Communications
1.08% of portfolio
 		UAL
United Airlines Holdings Inc.
1.05% of portfolio
 		ORCL
Oracle Corp.
0.97% of portfolio
 		VRSN
Verisign Inc.
0.94% of portfolio
 		AAL
American Airlines Group Inc.
0.82% of portfolio
 		GM
General Motors
0.80% of portfolio
2018   Q2$195.6 B AAPL
Apple Inc.
23.84% of portfolio
 		WFC
Wells Fargo
12.81% of portfolio
 		KHC
Kraft Heinz Co.
10.46% of portfolio
 		BAC
Bank of America Corp.
9.79% of portfolio
 		KO
Coca Cola Co.
8.97% of portfolio
 		AXP
American Express
7.60% of portfolio
 		USB
U.S. Bancorp
2.57% of portfolio
 		MCO
Moody's Corp.
2.15% of portfolio
 		PSX
Phillips 66
1.99% of portfolio
 		BK
Bank of New York Mellon Corp.
1.79% of portfolio
 		DAL
Delta Air Lines Inc.
1.61% of portfolio
 		GS
Goldman Sachs Group
1.49% of portfolio
 		LUV
Southwest Airlines
1.47% of portfolio
 		DVA
DaVita HealthCare Partners
1.37% of portfolio
 		CHTR
Charter Communications
1.12% of portfolio
 		GM
General Motors
1.04% of portfolio
 		UAL
United Airlines Holdings Inc.
0.95% of portfolio
 		VRSN
Verisign Inc.
0.91% of portfolio
 		AAL
American Airlines Group Inc.
0.87% of portfolio
 		USG
USG Corp.
0.86% of portfolio
2018   Q1$188.9 B AAPL
Apple Inc.
21.27% of portfolio
 		WFC
Wells Fargo
12.66% of portfolio
 		BAC
Bank of America Corp.
10.78% of portfolio
 		KHC
Kraft Heinz Co.
10.74% of portfolio
 		KO
Coca Cola Co.
9.19% of portfolio
 		AXP
American Express
7.48% of portfolio
 		USB
U.S. Bancorp
2.43% of portfolio
 		PSX
Phillips 66
2.32% of portfolio
 		MCO
Moody's Corp.
2.11% of portfolio
 		BK
Bank of New York Mellon Corp.
1.70% of portfolio
 		DAL
Delta Air Lines Inc.
1.55% of portfolio
 		GS
Goldman Sachs Group
1.46% of portfolio
 		LUV
Southwest Airlines
1.44% of portfolio
 		DVA
DaVita HealthCare Partners
1.35% of portfolio
 		CHTR
Charter Communications
1.35% of portfolio
 		AAL
American Airlines Group Inc.
1.27% of portfolio
 		MON-OLD
Monsanto Co.
1.17% of portfolio
 		UAL
United Airlines Holdings Inc.
1.02% of portfolio
 		GM
General Motors
0.96% of portfolio
 		USG
USG Corp.
0.83% of portfolio
2017   Q4$191.2 B AAPL
Apple Inc.
14.63% of portfolio
 		WFC
Wells Fargo
14.54% of portfolio
 		KHC
Kraft Heinz Co.
13.24% of portfolio
 		BAC
Bank of America Corp.
10.48% of portfolio
 		KO
Coca Cola Co.
9.60% of portfolio
 		AXP
American Express
7.87% of portfolio
 		PSX
Phillips 66
4.27% of portfolio
 		USB
U.S. Bancorp
2.44% of portfolio
 		MCO
Moody's Corp.
1.90% of portfolio
 		BK
Bank of New York Mellon Corp.
1.71% of portfolio
 		LUV
Southwest Airlines
1.63% of portfolio
 		DAL
Delta Air Lines Inc.
1.56% of portfolio
 		CHTR
Charter Communications
1.49% of portfolio
 		DVA
DaVita HealthCare Partners
1.46% of portfolio
 		GS
Goldman Sachs Group
1.46% of portfolio
 		AAL
American Airlines Group Inc.
1.25% of portfolio
 		GM
General Motors
1.07% of portfolio
 		UAL
United Airlines Holdings Inc.
0.99% of portfolio
 		USG
USG Corp.
0.79% of portfolio
 		VRSN
Verisign Inc.
0.78% of portfolio
2017   Q3$177.7 B WFC
Wells Fargo
14.41% of portfolio
 		KHC
Kraft Heinz Co.
14.21% of portfolio
 		AAPL
Apple Inc.
11.63% of portfolio
 		KO
Coca Cola Co.
10.13% of portfolio
 		BAC
Bank of America Corp.
9.68% of portfolio
 		AXP
American Express
7.72% of portfolio
 		PSX
Phillips 66
4.16% of portfolio
 		IBM
International Business Machines
3.02% of portfolio
 		USB
U.S. Bancorp
2.57% of portfolio
 		MCO
Moody's Corp.
1.93% of portfolio
 		CHTR
Charter Communications
1.74% of portfolio
 		LUV
Southwest Airlines
1.50% of portfolio
 		BK
Bank of New York Mellon Corp.
1.50% of portfolio
 		GS
Goldman Sachs Group
1.46% of portfolio
 		DAL
Delta Air Lines Inc.
1.44% of portfolio
 		GM
General Motors
1.36% of portfolio
 		DVA
DaVita HealthCare Partners
1.29% of portfolio
 		AAL
American Airlines Group Inc.
1.26% of portfolio
 		UAL
United Airlines Holdings Inc.
0.97% of portfolio
 		VRSN
Verisign Inc.
0.78% of portfolio
2017   Q2$162.1 B KHC
Kraft Heinz Co.
17.20% of portfolio
 		WFC
Wells Fargo
15.99% of portfolio
 		AAPL
Apple Inc.
11.56% of portfolio
 		KO
Coca Cola Co.
11.06% of portfolio
 		AXP
American Express
7.88% of portfolio
 		IBM
International Business Machines
5.13% of portfolio
 		PSX
Phillips 66
4.12% of portfolio
 		USB
U.S. Bancorp
2.72% of portfolio
 		CHTR
Charter Communications
1.96% of portfolio
 		MCO
Moody's Corp.
1.85% of portfolio
 		LUV
Southwest Airlines
1.83% of portfolio
 		DAL
Delta Air Lines Inc.
1.76% of portfolio
 		BK
Bank of New York Mellon Corp.
1.58% of portfolio
 		DVA
DaVita HealthCare Partners
1.54% of portfolio
 		GS
Goldman Sachs Group
1.50% of portfolio
 		AAL
American Airlines Group Inc.
1.46% of portfolio
 		UAL
United Airlines Holdings Inc.
1.31% of portfolio
 		GM
General Motors
1.29% of portfolio
 		LSXMK
Liberty SiriusXM Series C
0.80% of portfolio
 		VRSN
Verisign Inc.
0.74% of portfolio
2017   Q1$161.9 B KHC
Kraft Heinz Co.
18.27% of portfolio
 		WFC
Wells Fargo
16.49% of portfolio
 		AAPL
Apple Inc.
11.48% of portfolio
 		KO
Coca Cola Co.
10.49% of portfolio
 		AXP
American Express
7.41% of portfolio
 		IBM
International Business Machines
6.95% of portfolio
 		PSX
Phillips 66
3.95% of portfolio
 		USB
U.S. Bancorp
2.71% of portfolio
 		CHTR
Charter Communications
1.91% of portfolio
 		MCO
Moody's Corp.
1.71% of portfolio
 		DVA
DaVita HealthCare Partners
1.62% of portfolio
 		LUV
Southwest Airlines
1.58% of portfolio
 		DAL
Delta Air Lines Inc.
1.56% of portfolio
 		GS
Goldman Sachs Group
1.56% of portfolio
 		AAL
American Airlines Group Inc.
1.29% of portfolio
 		UAL
United Airlines Holdings Inc.
1.26% of portfolio
 		GM
General Motors
1.09% of portfolio
 		BK
Bank of New York Mellon Corp.
0.96% of portfolio
 		USG
USG Corp.
0.77% of portfolio
 		VRSN
Verisign Inc.
0.70% of portfolio
2016   Q4$148 B KHC
Kraft Heinz Co.
19.21% of portfolio
 		WFC
Wells Fargo
17.86% of portfolio
 		KO
Coca Cola Co.
11.21% of portfolio
 		IBM
International Business Machines
9.11% of portfolio
 		AXP
American Express
7.59% of portfolio
 		PSX
Phillips 66
4.71% of portfolio
 		AAPL
Apple Inc.
4.49% of portfolio
 		USB
U.S. Bancorp
2.95% of portfolio
 		DAL
Delta Air Lines Inc.
2.00% of portfolio
 		CHTR
Charter Communications
1.84% of portfolio
 		GS
Goldman Sachs Group
1.77% of portfolio
 		DVA
DaVita HealthCare Partners
1.67% of portfolio
 		MCO
Moody's Corp.
1.57% of portfolio
 		LUV
Southwest Airlines
1.46% of portfolio
 		AAL
American Airlines Group Inc.
1.44% of portfolio
 		UAL
United Airlines Holdings Inc.
1.43% of portfolio
 		GM
General Motors
1.18% of portfolio
 		USG
USG Corp.
0.76% of portfolio
 		BK
Bank of New York Mellon Corp.
0.69% of portfolio
 		VRSN
Verisign Inc.
0.67% of portfolio
2016   Q3$128.8 B KHC
Kraft Heinz Co.
22.63% of portfolio
 		WFC
Wells Fargo
16.49% of portfolio
 		KO
Coca Cola Co.
13.14% of portfolio
 		IBM
International Business Machines
10.02% of portfolio
 		AXP
American Express
7.54% of portfolio
 		PSX
Phillips 66
5.05% of portfolio
 		USB
U.S. Bancorp
2.83% of portfolio
 		MCO
Moody's Corp.
2.07% of portfolio
 		CHTR
Charter Communications
1.98% of portfolio
 		DVA
DaVita HealthCare Partners
1.98% of portfolio
 		DE
Deere & Co.
1.40% of portfolio
 		GS
Goldman Sachs Group
1.37% of portfolio
 		AAPL
Apple Inc.
1.34% of portfolio
 		GM
General Motors
1.23% of portfolio
 		VRSN
Verisign Inc.
0.79% of portfolio
 		USG
USG Corp.
0.78% of portfolio
 		WMT
Walmart Inc.
0.73% of portfolio
 		V
Visa Inc.
0.68% of portfolio
 		BK
Bank of New York Mellon Corp.
0.65% of portfolio
 		AAL
American Airlines Group Inc.
0.62% of portfolio
2016   Q2$129.7 B KHC
Kraft Heinz Co.
22.21% of portfolio
 		WFC
Wells Fargo
17.50% of portfolio
 		KO
Coca Cola Co.
13.98% of portfolio
 		IBM
International Business Machines
9.51% of portfolio
 		AXP
American Express
7.10% of portfolio
 		PSX
Phillips 66
4.82% of portfolio
 		USB
U.S. Bancorp
2.64% of portfolio
 		DVA
DaVita HealthCare Partners
2.30% of portfolio
 		WMT
Walmart Inc.
2.26% of portfolio
 		MCO
Moody's Corp.
1.78% of portfolio
 		CHTR
Charter Communications
1.65% of portfolio
 		DE
Deere & Co.
1.37% of portfolio
 		GS
Goldman Sachs Group
1.26% of portfolio
 		AAPL
Apple Inc.
1.12% of portfolio
 		GM
General Motors
1.09% of portfolio
 		VRSN
Verisign Inc.
0.86% of portfolio
 		USG
USG Corp.
0.81% of portfolio
 		VZ
Verizon Communications
0.65% of portfolio
 		BK
Bank of New York Mellon Corp.
0.62% of portfolio
 		V
Visa Inc.
0.59% of portfolio
2016   Q1$128.6 B KHC
Kraft Heinz Co.
19.90% of portfolio
 		WFC
Wells Fargo
18.04% of portfolio
 		KO
Coca Cola Co.
14.43% of portfolio
 		IBM
International Business Machines
9.57% of portfolio
 		AXP
American Express
7.24% of portfolio
 		PSX
Phillips 66
5.09% of portfolio
 		WMT
Walmart Inc.
2.94% of portfolio
 		USB
U.S. Bancorp
2.69% of portfolio
 		DVA
DaVita HealthCare Partners
2.20% of portfolio
 		MCO
Moody's Corp.
1.85% of portfolio
 		CHTR
Charter Communications
1.63% of portfolio
 		DE
Deere & Co.
1.39% of portfolio
 		GS
Goldman Sachs Group
1.34% of portfolio
 		GM
General Motors
1.22% of portfolio
 		VRSN
Verisign Inc.
0.89% of portfolio
 		AAPL
Apple Inc.
0.83% of portfolio
 		USG
USG Corp.
0.75% of portfolio
 		SU
Suncor Energy Inc.
0.65% of portfolio
 		VZ
Verizon Communications
0.63% of portfolio
 		V
Visa Inc.
0.61% of portfolio
2015   Q4$131.9 B WFC
Wells Fargo
19.78% of portfolio
 		KHC
Kraft Heinz Co.
17.97% of portfolio
 		KO
Coca Cola Co.
13.03% of portfolio
 		IBM
International Business Machines
8.46% of portfolio
 		AXP
American Express
8.00% of portfolio
 		PSX
Phillips 66
3.81% of portfolio
 		PG
Procter & Gamble
3.18% of portfolio
 		USB
U.S. Bancorp
2.75% of portfolio
 		WMT
Walmart Inc.
2.61% of portfolio
 		DVA
DaVita HealthCare Partners
2.04% of portfolio
 		MCO
Moody's Corp.
1.88% of portfolio
 		GS
Goldman Sachs Group
1.50% of portfolio
 		CHTR
Charter Communications
1.43% of portfolio
 		DE
Deere & Co.
1.32% of portfolio
 		GM
General Motors
1.29% of portfolio
 		T
AT&T Inc.
1.22% of portfolio
 		VRSN
Verisign Inc.
0.86% of portfolio
 		PCP
Precision Castparts
0.74% of portfolio
 		USG
USG Corp.
0.72% of portfolio
 		BK
Bank of New York Mellon Corp.
0.63% of portfolio
2015   Q3$127.4 B WFC
Wells Fargo
18.95% of portfolio
 		KHC
Kraft Heinz Co.
18.04% of portfolio
 		KO
Coca Cola Co.
12.60% of portfolio
 		IBM
International Business Machines
9.22% of portfolio
 		AXP
American Express
8.82% of portfolio
 		PSX
Phillips 66
3.71% of portfolio
 		PG
Procter & Gamble
2.98% of portfolio
 		WMT
Walmart Inc.
2.86% of portfolio
 		USB
U.S. Bancorp
2.74% of portfolio
 		DVA
DaVita HealthCare Partners
2.19% of portfolio
 		MCO
Moody's Corp.
1.90% of portfolio
 		T
AT&T Inc.
1.52% of portfolio
 		GS
Goldman Sachs Group
1.49% of portfolio
 		CHTR
Charter Communications
1.42% of portfolio
 		GM
General Motors
1.18% of portfolio
 		DE
Deere & Co.
0.99% of portfolio
 		USG
USG Corp.
0.81% of portfolio
 		PCP
Precision Castparts
0.76% of portfolio
 		VRSN
Verisign Inc.
0.72% of portfolio
 		SU
Suncor Energy Inc.
0.63% of portfolio
2015   Q2$109.6 B WFC
Wells Fargo
24.14% of portfolio
 		KO
Coca Cola Co.
14.32% of portfolio
 		IBM
International Business Machines
11.81% of portfolio
 		AXP
American Express
10.75% of portfolio
 		WMT
Walmart Inc.
3.91% of portfolio
 		PG
Procter & Gamble
3.77% of portfolio
 		USB
U.S. Bancorp
3.37% of portfolio
 		DVA
DaVita HealthCare Partners
2.80% of portfolio
 		DTV
DIRECTV Group Inc.
2.66% of portfolio
 		MCO
Moody's Corp.
2.43% of portfolio
 		GS
Goldman Sachs Group
2.41% of portfolio
 		PSX
Phillips 66
2.18% of portfolio
 		DE
Deere & Co.
1.53% of portfolio
 		CHTR
Charter Communications
1.33% of portfolio
 		GM
General Motors
1.25% of portfolio
 		USG
USG Corp.
0.99% of portfolio
 		BK
Bank of New York Mellon Corp.
0.79% of portfolio
 		PCP
Precision Castparts
0.77% of portfolio
 		VRSN
Verisign Inc.
0.73% of portfolio
 		VZ
Verizon Communications
0.64% of portfolio
2015   Q1$107.1 B WFC
Wells Fargo
23.88% of portfolio
 		KO
Coca Cola Co.
15.14% of portfolio
 		IBM
International Business Machines
11.92% of portfolio
 		AXP
American Express
11.06% of portfolio
 		WMT
Walmart Inc.
4.64% of portfolio
 		PG
Procter & Gamble
4.04% of portfolio
 		USB
U.S. Bancorp
3.41% of portfolio
 		DVA
DaVita HealthCare Partners
2.93% of portfolio
 		DTV
DIRECTV Group Inc.
2.49% of portfolio
 		MCO
Moody's Corp.
2.39% of portfolio
 		GS
Goldman Sachs Group
2.22% of portfolio
 		GM
General Motors
1.44% of portfolio
 		DE
Deere & Co.
1.42% of portfolio
 		CHTR
Charter Communications
1.08% of portfolio
 		USG
USG Corp.
0.97% of portfolio
 		PCP
Precision Castparts
0.82% of portfolio
 		VRSN
Verisign Inc.
0.81% of portfolio
 		BK
Bank of New York Mellon Corp.
0.78% of portfolio
 		VZ
Verizon Communications
0.68% of portfolio
 		MTB
M&T Bank Corp.
0.64% of portfolio
2014   Q4$109.4 B WFC
Wells Fargo
23.23% of portfolio
 		KO
Coca Cola Co.
15.44% of portfolio
 		AXP
American Express
12.90% of portfolio
 		IBM
International Business Machines
11.29% of portfolio
 		WMT
Walmart Inc.
4.74% of portfolio
 		PG
Procter & Gamble
4.40% of portfolio
 		USB
U.S. Bancorp
3.29% of portfolio
 		DVA
DaVita HealthCare Partners
2.67% of portfolio
 		DTV
DIRECTV Group Inc.
2.49% of portfolio
 		GS
Goldman Sachs Group
2.24% of portfolio
 		MCO
Moody's Corp.
2.16% of portfolio
 		DE
Deere & Co.
1.38% of portfolio
 		GM
General Motors
1.31% of portfolio
 		USG
USG Corp.
1.00% of portfolio
 		CHTR
Charter Communications
0.94% of portfolio
 		BK
Bank of New York Mellon Corp.
0.82% of portfolio
 		VRSN
Verisign Inc.
0.68% of portfolio
 		SU
Suncor Energy Inc.
0.65% of portfolio
 		VZ
Verizon Communications
0.64% of portfolio
 		PCP
Precision Castparts
0.63% of portfolio
2014   Q3$108.4 B WFC
Wells Fargo
22.18% of portfolio
 		KO
Coca Cola Co.
15.74% of portfolio
 		IBM
International Business Machines
12.34% of portfolio
 		AXP
American Express
12.24% of portfolio
 		WMT
Walmart Inc.
4.26% of portfolio
 		PG
Procter & Gamble
4.08% of portfolio
 		XOM
Exxon Mobil Corp.
3.57% of portfolio
 		USB
U.S. Bancorp
3.09% of portfolio
 		DVA
DaVita HealthCare Partners
2.54% of portfolio
 		DTV
DIRECTV Group Inc.
2.39% of portfolio
 		MCO
Moody's Corp.
2.15% of portfolio
 		GS
Goldman Sachs Group
2.14% of portfolio
 		GM
General Motors
1.18% of portfolio
 		USG
USG Corp.
0.99% of portfolio
 		BK
Bank of New York Mellon Corp.
0.84% of portfolio
 		CHTR
Charter Communications
0.69% of portfolio
 		VZ
Verizon Communications
0.69% of portfolio
 		VRSN
Verisign Inc.
0.66% of portfolio
 		SU
Suncor Energy Inc.
0.62% of portfolio
 		MTB
M&T Bank Corp.
0.61% of portfolio
2014   Q2$107.6 B WFC
Wells Fargo
22.64% of portfolio
 		KO
Coca Cola Co.
15.75% of portfolio
 		AXP
American Express
13.37% of portfolio
 		IBM
International Business Machines
11.82% of portfolio
 		WMT
Walmart Inc.
4.10% of portfolio
 		PG
Procter & Gamble
3.86% of portfolio
 		XOM
Exxon Mobil Corp.
3.85% of portfolio
 		USB
U.S. Bancorp
3.23% of portfolio
 		DVA
DaVita HealthCare Partners
2.53% of portfolio
 		MCO
Moody's Corp.
2.01% of portfolio
 		GS
Goldman Sachs Group
1.97% of portfolio
 		DTV
DIRECTV Group Inc.
1.85% of portfolio
 		GM
General Motors
1.11% of portfolio
 		USG
USG Corp.
1.09% of portfolio
 		BK
Bank of New York Mellon Corp.
0.86% of portfolio
 		VZ
Verizon Communications
0.68% of portfolio
 		CBI
Chicago Bridge & Iron Company
0.68% of portfolio
 		SU
Suncor Energy Inc.
0.65% of portfolio
 		MTB
M&T Bank Corp.
0.62% of portfolio
 		VIAB
Viacom Inc.
0.61% of portfolio
2014   Q1$105.8 B WFC
Wells Fargo
21.79% of portfolio
 		KO
Coca Cola Co.
14.62% of portfolio
 		AXP
American Express
12.90% of portfolio
 		IBM
International Business Machines
12.44% of portfolio
 		WMT
Walmart Inc.
4.19% of portfolio
 		PG
Procter & Gamble
4.02% of portfolio
 		XOM
Exxon Mobil Corp.
3.80% of portfolio
 		USB
U.S. Bancorp
3.24% of portfolio
 		DTV
DIRECTV Group Inc.
2.49% of portfolio
 		DVA
DaVita HealthCare Partners
2.45% of portfolio
 		GS
Goldman Sachs Group
1.96% of portfolio
 		MCO
Moody's Corp.
1.85% of portfolio
 		GHC
Graham Holdings Co.
1.15% of portfolio
 		USG
USG Corp.
1.08% of portfolio
 		GM
General Motors
0.98% of portfolio
 		BK
Bank of New York Mellon Corp.
0.82% of portfolio
 		CBI
Chicago Bridge & Iron Company
0.79% of portfolio
 		COP
ConocoPhillips
0.74% of portfolio
 		PSX
Phillips 66
0.71% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.66% of portfolio
2013   Q4$104.8 B WFC
Wells Fargo
20.07% of portfolio
 		KO
Coca Cola Co.
15.76% of portfolio
 		AXP
American Express
13.12% of portfolio
 		IBM
International Business Machines
12.19% of portfolio
 		PG
Procter & Gamble
4.10% of portfolio
 		XOM
Exxon Mobil Corp.
3.97% of portfolio
 		WMT
Walmart Inc.
3.71% of portfolio
 		USB
U.S. Bancorp
3.06% of portfolio
 		DTV
DIRECTV Group Inc.
2.41% of portfolio
 		DVA
DaVita HealthCare Partners
2.20% of portfolio
 		GS
Goldman Sachs Group
2.14% of portfolio
 		PSX
Phillips 66
2.00% of portfolio
 		MCO
Moody's Corp.
1.85% of portfolio
 		GM
General Motors
1.56% of portfolio
 		GHC
Graham Holdings Co.
1.09% of portfolio
 		USG
USG Corp.
0.94% of portfolio
 		BK
Bank of New York Mellon Corp.
0.82% of portfolio
 		CBI
Chicago Bridge & Iron Company
0.76% of portfolio
 		COP
ConocoPhillips
0.75% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.74% of portfolio
2013   Q3$92 B WFC
Wells Fargo
20.79% of portfolio
 		KO
Coca Cola Co.
16.46% of portfolio
 		IBM
International Business Machines
13.71% of portfolio
 		AXP
American Express
12.44% of portfolio
 		PG
Procter & Gamble
4.34% of portfolio
 		WMT
Walmart Inc.
3.96% of portfolio
 		XOM
Exxon Mobil Corp.
3.75% of portfolio
 		USB
U.S. Bancorp
3.14% of portfolio
 		DTV
DIRECTV Group Inc.
2.37% of portfolio
 		DVA
DaVita HealthCare Partners
1.94% of portfolio
 		MCO
Moody's Corp.
1.90% of portfolio
 		PSX
Phillips 66
1.71% of portfolio
 		GM
General Motors
1.56% of portfolio
 		GHC
Graham Holdings Co.
1.15% of portfolio
 		COP
ConocoPhillips
1.02% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.90% of portfolio
 		BK
Bank of New York Mellon Corp.
0.81% of portfolio
 		NOV
Nov Inc.
0.75% of portfolio
 		SU
Suncor Energy Inc.
0.70% of portfolio
 		CBI
Chicago Bridge & Iron Company
0.70% of portfolio
2013   Q2$91.9 B WFC
Wells Fargo
20.81% of portfolio
 		KO
Coca Cola Co.
17.47% of portfolio
 		IBM
International Business Machines
14.17% of portfolio
 		AXP
American Express
12.34% of portfolio
 		PG
Procter & Gamble
4.42% of portfolio
 		WMT
Walmart Inc.
3.99% of portfolio
 		USB
U.S. Bancorp
3.08% of portfolio
 		XOM
Exxon Mobil Corp.
3.07% of portfolio
 		DTV
DIRECTV Group Inc.
2.50% of portfolio
 		DVA
DaVita HealthCare Partners
1.97% of portfolio
 		PSX
Phillips 66
1.74% of portfolio
 		MCO
Moody's Corp.
1.65% of portfolio
 		COP
ConocoPhillips
1.59% of portfolio
 		GM
General Motors
1.45% of portfolio
 		GHC
Graham Holdings Co.
0.91% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.78% of portfolio
 		BK
Bank of New York Mellon Corp.
0.75% of portfolio
 		NOV
Nov Inc.
0.67% of portfolio
 		MTB
M&T Bank Corp.
0.65% of portfolio
 		CBI
Chicago Bridge & Iron Company
0.62% of portfolio
2013   Q1$85 B WFC
Wells Fargo
19.94% of portfolio
 		KO
Coca Cola Co.
19.03% of portfolio
 		IBM
International Business Machines
17.09% of portfolio
 		AXP
American Express
12.03% of portfolio
 		PG
Procter & Gamble
4.79% of portfolio
 		WMT
Walmart Inc.
4.34% of portfolio
 		DTV
DIRECTV Group Inc.
2.48% of portfolio
 		USB
U.S. Bancorp
2.45% of portfolio
 		PSX
Phillips 66
2.24% of portfolio
 		DVA
DaVita HealthCare Partners
2.09% of portfolio
 		MCO
Moody's Corp.
1.78% of portfolio
 		COP
ConocoPhillips
1.71% of portfolio
 		GHC
Graham Holdings Co.
0.91% of portfolio
 		GM
General Motors
0.82% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.74% of portfolio
 		MTB
M&T Bank Corp.
0.65% of portfolio
 		BK
Bank of New York Mellon Corp.
0.62% of portfolio
 		NOV
Nov Inc.
0.62% of portfolio
 		VIAB
Viacom Inc.
0.55% of portfolio
 		COST
Costco Co.
0.54% of portfolio
2012   Q4$75.3 B WFC
Wells Fargo
19.96% of portfolio
 		KO
Coca Cola Co.
19.25% of portfolio
 		IBM
International Business Machines
17.32% of portfolio
 		AXP
American Express
11.57% of portfolio
 		PG
Procter & Gamble
4.76% of portfolio
 		WMT
Walmart Inc.
4.30% of portfolio
 		USB
U.S. Bancorp
2.60% of portfolio
 		DTV
DIRECTV Group Inc.
2.27% of portfolio
 		DVA
DaVita HealthCare Partners
2.00% of portfolio
 		PSX
Phillips 66
1.92% of portfolio
 		MCO
Moody's Corp.
1.90% of portfolio
 		COP
ConocoPhillips
1.86% of portfolio
 		GM
General Motors
0.96% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.87% of portfolio
 		GHC
Graham Holdings Co.
0.84% of portfolio
 		MTB
M&T Bank Corp.
0.70% of portfolio
 		BK
Bank of New York Mellon Corp.
0.67% of portfolio
 		USG
USG Corp.
0.64% of portfolio
 		COST
Costco Co.
0.57% of portfolio
 		VIAB
Viacom Inc.
0.53% of portfolio
2012   Q3$75.3 B KO
Coca Cola Co.
20.14% of portfolio
 		WFC
Wells Fargo
19.37% of portfolio
 		IBM
International Business Machines
18.59% of portfolio
 		AXP
American Express
11.44% of portfolio
 		PG
Procter & Gamble
4.86% of portfolio
 		WMT
Walmart Inc.
4.58% of portfolio
 		USB
U.S. Bancorp
2.79% of portfolio
 		DTV
DIRECTV Group Inc.
2.06% of portfolio
 		COP
ConocoPhillips
1.83% of portfolio
 		PSX
Phillips 66
1.67% of portfolio
 		MDLZ
Mondelez International
1.67% of portfolio
 		MCO
Moody's Corp.
1.67% of portfolio
 		DVA
DaVita HealthCare Partners
1.40% of portfolio
 		GHC
Graham Holdings Co.
0.83% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.76% of portfolio
 		MTB
M&T Bank Corp.
0.68% of portfolio
 		BK
Bank of New York Mellon Corp.
0.59% of portfolio
 		COST
Costco Co.
0.58% of portfolio
 		VIAB
Viacom Inc.
0.54% of portfolio
 		USG
USG Corp.
0.50% of portfolio
2012   Q2$74.3 B KO
Coca Cola Co.
21.04% of portfolio
 		WFC
Wells Fargo
18.49% of portfolio
 		IBM
International Business Machines
17.54% of portfolio
 		AXP
American Express
11.87% of portfolio
 		PG
Procter & Gamble
4.91% of portfolio
 		WMT
Walmart Inc.
4.38% of portfolio
 		MDLZ
Mondelez International
3.06% of portfolio
 		USB
U.S. Bancorp
2.86% of portfolio
 		COP
ConocoPhillips
2.17% of portfolio
 		DTV
DIRECTV Group Inc.
1.87% of portfolio
 		MCO
Moody's Corp.
1.40% of portfolio
 		DVA
DaVita HealthCare Partners
1.23% of portfolio
 		PSX
Phillips 66
1.21% of portfolio
 		JNJ
Johnson & Johnson
0.94% of portfolio
 		GHC
Graham Holdings Co.
0.87% of portfolio
 		FWONA
Liberty Media Corp Formula One Series A
0.65% of portfolio
 		MTB
M&T Bank Corp.
0.60% of portfolio
 		BK
Bank of New York Mellon Corp.
0.55% of portfolio
 		COST
Costco Co.
0.55% of portfolio
 		USG
USG Corp.
0.44% of portfolio
2012   Q1$75.3 B KO
Coca Cola Co.
19.66% of portfolio
 		WFC
Wells Fargo
17.88% of portfolio
 		IBM
International Business Machines
17.84% of portfolio
 		AXP
American Express
11.65% of portfolio
 		PG
Procter & Gamble
6.54% of portfolio
 		MDLZ
Mondelez International
3.94% of portfolio
 		WMT
Walmart Inc.
3.80% of portfolio
 		COP
ConocoPhillips
2.94% of portfolio
 		USB
U.S. Bancorp
2.90% of portfolio
 		JNJ
Johnson & Johnson
2.54% of portfolio
 		MCO
Moody's Corp.
1.59% of portfolio
 		DTV
DIRECTV Group Inc.
1.51% of portfolio
 		GHC
Graham Holdings Co.
0.86% of portfolio
 		DVA
DaVita HealthCare Partners
0.72% of portfolio
 		MTB
M&T Bank Corp.
0.62% of portfolio
 		COST
Costco Co.
0.52% of portfolio
 		V
Visa Inc.
0.45% of portfolio
 		CVS
CVS Health Corp.
0.42% of portfolio
 		USG
USG Corp.
0.39% of portfolio
 		GD
General Dynamics
0.38% of portfolio
2011   Q4$66.2 B KO
Coca Cola Co.
21.15% of portfolio
 		IBM
International Business Machines
17.76% of portfolio
 		WFC
Wells Fargo
15.99% of portfolio
 		AXP
American Express
10.81% of portfolio
 		PG
Procter & Gamble
7.74% of portfolio
 		MDLZ
Mondelez International
4.92% of portfolio
 		WMT
Walmart Inc.
3.53% of portfolio
 		COP
ConocoPhillips
3.21% of portfolio
 		JNJ
Johnson & Johnson
2.88% of portfolio
 		USB
U.S. Bancorp
2.82% of portfolio
 		MCO
Moody's Corp.
1.45% of portfolio
 		DTV
DIRECTV Group Inc.
1.32% of portfolio
 		GHC
Graham Holdings Co.
0.98% of portfolio
 		MTB
M&T Bank Corp.
0.62% of portfolio
 		COST
Costco Co.
0.55% of portfolio
 		CVS
CVS Health Corp.
0.44% of portfolio
 		V
Visa Inc.
0.44% of portfolio
 		INTC
Intel Corp.
0.42% of portfolio
 		GD
General Dynamics
0.39% of portfolio
 		DVA
DaVita HealthCare Partners
0.31% of portfolio
2011   Q3$59.1 B KO
Coca Cola Co.
22.88% of portfolio
 		IBM
International Business Machines
16.98% of portfolio
 		WFC
Wells Fargo
14.76% of portfolio
 		AXP
American Express
11.53% of portfolio
 		PG
Procter & Gamble
8.21% of portfolio
 		MDLZ
Mondelez International
5.10% of portfolio
 		JNJ
Johnson & Johnson
4.04% of portfolio
 		WMT
Walmart Inc.
3.43% of portfolio
 		COP
ConocoPhillips
3.12% of portfolio
 		USB
U.S. Bancorp
2.75% of portfolio
 		MCO
Moody's Corp.
1.47% of portfolio
 		GHC
Graham Holdings Co.
0.96% of portfolio
 		MTB
M&T Bank Corp.
0.64% of portfolio
 		COST
Costco Co.
0.60% of portfolio
 		INTC
Intel Corp.
0.34% of portfolio
 		V
Visa Inc.
0.33% of portfolio
 		CVS
CVS Health Corp.
0.32% of portfolio
 		GD
General Dynamics
0.30% of portfolio
 		DTV
DIRECTV Group Inc.
0.30% of portfolio
 		DG
Dollar General
0.29% of portfolio
2011   Q2$56.6 B KO
Coca Cola Co.
23.77% of portfolio
 		WFC
Wells Fargo
17.46% of portfolio
 		AXP
American Express
13.84% of portfolio
 		PG
Procter & Gamble
8.62% of portfolio
 		IBM
International Business Machines
7.53% of portfolio
 		MDLZ
Mondelez International
6.19% of portfolio
 		JNJ
Johnson & Johnson
5.01% of portfolio
 		COP
ConocoPhillips
3.86% of portfolio
 		WMT
Walmart Inc.
3.66% of portfolio
 		USB
U.S. Bancorp
3.11% of portfolio
 		MCO
Moody's Corp.
1.92% of portfolio
 		GHC
Graham Holdings Co.
1.28% of portfolio
 		MTB
M&T Bank Corp.
0.83% of portfolio
 		COST
Costco Co.
0.62% of portfolio
 		USG
USG Corp.
0.43% of portfolio
 		GL
Globe Life Inc.
0.32% of portfolio
 		SNY
Sanofi Aventis
0.29% of portfolio
 		GE
GE Aerospace
0.26% of portfolio
 		MA
Mastercard Inc.
0.22% of portfolio
 		UPS
United Parcel Service
0.18% of portfolio
2011   Q1$54.3 B KO
Coca Cola Co.
24.42% of portfolio
 		WFC
Wells Fargo
19.99% of portfolio
 		AXP
American Express
12.61% of portfolio
 		PG
Procter & Gamble
8.70% of portfolio
 		MDLZ
Mondelez International
6.07% of portfolio
 		JNJ
Johnson & Johnson
4.65% of portfolio
 		COP
ConocoPhillips
4.28% of portfolio
 		WSC-OLD
Wesco Financial Corp.
4.08% of portfolio
 		WMT
Walmart Inc.
3.74% of portfolio
 		USB
U.S. Bancorp
3.36% of portfolio
 		MCO
Moody's Corp.
1.77% of portfolio
 		GHC
Graham Holdings Co.
1.39% of portfolio
 		IBM
International Business Machines
1.36% of portfolio
 		MTB
M&T Bank Corp.
0.87% of portfolio
 		COST
Costco Co.
0.58% of portfolio
 		USG
USG Corp.
0.52% of portfolio
 		GL
Globe Life Inc.
0.35% of portfolio
 		GE
GE Aerospace
0.29% of portfolio
 		SNY
Sanofi Aventis
0.26% of portfolio
 		UPS
United Parcel Service
0.20% of portfolio
2010   Q4$52.6 B KO
Coca Cola Co.
25.03% of portfolio
 		WFC
Wells Fargo
20.20% of portfolio
 		AXP
American Express
12.38% of portfolio
 		PG
Procter & Gamble
9.40% of portfolio
 		MDLZ
Mondelez International
6.31% of portfolio
 		JNJ
Johnson & Johnson
5.02% of portfolio
 		WMT
Walmart Inc.
4.01% of portfolio
 		WSC-OLD
Wesco Financial Corp.
4.00% of portfolio
 		COP
ConocoPhillips
3.77% of portfolio
 		USB
U.S. Bancorp
3.54% of portfolio
 		GHC
Graham Holdings Co.
1.44% of portfolio
 		MCO
Moody's Corp.
1.43% of portfolio
 		MTB
M&T Bank Corp.
0.89% of portfolio
 		COST
Costco Co.
0.60% of portfolio
 		USG
USG Corp.
0.55% of portfolio
 		GL
Globe Life Inc.
0.32% of portfolio
 		GE
GE Aerospace
0.27% of portfolio
 		SNY
Sanofi Aventis
0.25% of portfolio
 		UPS
United Parcel Service
0.20% of portfolio
 		GSK
GSK plc
0.11% of portfolio
2010   Q3$48.6 B KO
Coca Cola Co.
24.10% of portfolio
 		WFC
Wells Fargo
17.40% of portfolio
 		AXP
American Express
13.12% of portfolio
 		PG
Procter & Gamble
9.48% of portfolio
 		MDLZ
Mondelez International
6.69% of portfolio
 		JNJ
Johnson & Johnson
5.44% of portfolio
 		WMT
Walmart Inc.
4.30% of portfolio
 		WSC-OLD
Wesco Financial Corp.
4.21% of portfolio
 		COP
ConocoPhillips
3.44% of portfolio
 		USB
U.S. Bancorp
3.07% of portfolio
 		MCO
Moody's Corp.
1.49% of portfolio
 		GHC
Graham Holdings Co.
1.42% of portfolio
 		MTB
M&T Bank Corp.
0.90% of portfolio
 		NKE
NIKE Inc.
0.60% of portfolio
 		COST
Costco Co.
0.58% of portfolio
 		USG
USG Corp.
0.46% of portfolio
 		FI
Fiserv Inc.
0.43% of portfolio
 		NSRGY
Nestle
0.38% of portfolio
 		NLC
Nalco Holding Co.
0.32% of portfolio
 		GL
Globe Life Inc.
0.31% of portfolio
2010   Q2$46.4 B KO
Coca Cola Co.
21.58% of portfolio
 		WFC
Wells Fargo
17.64% of portfolio
 		AXP
American Express
12.96% of portfolio
 		PG
Procter & Gamble
10.08% of portfolio
 		MDLZ
Mondelez International
6.34% of portfolio
 		JNJ
Johnson & Johnson
5.25% of portfolio
 		WMT
Walmart Inc.
4.04% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.97% of portfolio
 		USB
U.S. Bancorp
3.32% of portfolio
 		COP
ConocoPhillips
3.08% of portfolio
 		GHC
Graham Holdings Co.
1.53% of portfolio
 		MCO
Moody's Corp.
1.32% of portfolio
 		NKE
NIKE Inc.
1.11% of portfolio
 		MTB
M&T Bank Corp.
0.98% of portfolio
 		RSG
Republic Services
0.69% of portfolio
 		COST
Costco Co.
0.51% of portfolio
 		USG
USG Corp.
0.44% of portfolio
 		FI
Fiserv Inc.
0.43% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
0.42% of portfolio
 		IR
Ingersoll Rand Inc.
0.42% of portfolio
2010   Q1$50.9 B KO
Coca Cola Co.
21.60% of portfolio
 		WFC
Wells Fargo
19.56% of portfolio
 		AXP
American Express
12.28% of portfolio
 		PG
Procter & Gamble
9.83% of portfolio
 		MDLZ
Mondelez International
6.34% of portfolio
 		WSC-OLD
Wesco Financial Corp.
4.32% of portfolio
 		WMT
Walmart Inc.
4.26% of portfolio
 		USB
U.S. Bancorp
3.51% of portfolio
 		COP
ConocoPhillips
3.43% of portfolio
 		JNJ
Johnson & Johnson
3.06% of portfolio
 		MCO
Moody's Corp.
1.80% of portfolio
 		GHC
Graham Holdings Co.
1.51% of portfolio
 		NKE
NIKE Inc.
1.10% of portfolio
 		MTB
M&T Bank Corp.
0.87% of portfolio
 		RSG
Republic Services
0.62% of portfolio
 		USG
USG Corp.
0.58% of portfolio
 		COST
Costco Co.
0.51% of portfolio
 		NLC
Nalco Holding Co.
0.43% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
0.42% of portfolio
 		IRM
Iron Mountain Inc.
0.42% of portfolio
2009   Q4$57.9 B KO
Coca Cola Co.
19.68% of portfolio
 		WFC
Wells Fargo
14.91% of portfolio
 		BNI
Burlington Northern Santa Fe
13.07% of portfolio
 		AXP
American Express
10.60% of portfolio
 		PG
Procter & Gamble
9.16% of portfolio
 		MDLZ
Mondelez International
6.49% of portfolio
 		WMT
Walmart Inc.
3.60% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.38% of portfolio
 		COP
ConocoPhillips
3.32% of portfolio
 		JNJ
Johnson & Johnson
3.02% of portfolio
 		USB
U.S. Bancorp
2.68% of portfolio
 		MCO
Moody's Corp.
1.47% of portfolio
 		GHC
Graham Holdings Co.
1.31% of portfolio
 		NKE
NIKE Inc.
0.87% of portfolio
 		MTB
M&T Bank Corp.
0.78% of portfolio
 		COST
Costco Co.
0.54% of portfolio
 		RSG
Republic Services
0.41% of portfolio
 		USG
USG Corp.
0.41% of portfolio
 		NLC
Nalco Holding Co.
0.40% of portfolio
 		IR
Ingersoll Rand Inc.
0.35% of portfolio
2009   Q3$56.5 B KO
Coca Cola Co.
18.99% of portfolio
 		WFC
Wells Fargo
15.62% of portfolio
 		BNI
Burlington Northern Santa Fe
10.84% of portfolio
 		PG
Procter & Gamble
9.87% of portfolio
 		AXP
American Express
9.09% of portfolio
 		MDLZ
Mondelez International
6.42% of portfolio
 		COP
ConocoPhillips
4.59% of portfolio
 		JNJ
Johnson & Johnson
3.98% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.28% of portfolio
 		WMT
Walmart Inc.
3.28% of portfolio
 		USB
U.S. Bancorp
2.67% of portfolio
 		GHC
Graham Holdings Co.
1.43% of portfolio
 		MCO
Moody's Corp.
1.42% of portfolio
 		UNP
Union Pacific
0.99% of portfolio
 		NKE
NIKE Inc.
0.87% of portfolio
 		MTB
M&T Bank Corp.
0.74% of portfolio
 		COST
Costco Co.
0.52% of portfolio
 		USG
USG Corp.
0.52% of portfolio
 		IR
Ingersoll Rand Inc.
0.42% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
0.34% of portfolio
2009   Q2$49 B KO
Coca Cola Co.
19.58% of portfolio
 		WFC
Wells Fargo
14.98% of portfolio
 		BNI
Burlington Northern Santa Fe
11.52% of portfolio
 		PG
Procter & Gamble
10.04% of portfolio
 		AXP
American Express
7.19% of portfolio
 		MDLZ
Mondelez International
7.15% of portfolio
 		COP
ConocoPhillips
5.53% of portfolio
 		JNJ
Johnson & Johnson
4.28% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.39% of portfolio
 		MCO
Moody's Corp.
2.58% of portfolio
 		USB
U.S. Bancorp
2.52% of portfolio
 		WMT
Walmart Inc.
1.97% of portfolio
 		GHC
Graham Holdings Co.
1.24% of portfolio
 		UNP
Union Pacific
1.02% of portfolio
 		NKE
NIKE Inc.
0.81% of portfolio
 		MTB
M&T Bank Corp.
0.70% of portfolio
 		COST
Costco Co.
0.49% of portfolio
 		NRG
NRG Energy Inc.
0.38% of portfolio
 		ELV
Elevance Health Inc.
0.36% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
0.35% of portfolio
2009   Q1$40.9 B KO
Coca Cola Co.
21.51% of portfolio
 		BNI
Burlington Northern Santa Fe
11.30% of portfolio
 		PG
Procter & Gamble
11.10% of portfolio
 		WFC
Wells Fargo
10.54% of portfolio
 		MDLZ
Mondelez International
7.54% of portfolio
 		COP
ConocoPhillips
6.82% of portfolio
 		AXP
American Express
5.06% of portfolio
 		JNJ
Johnson & Johnson
4.18% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.85% of portfolio
 		MCO
Moody's Corp.
2.69% of portfolio
 		WMT
Walmart Inc.
2.54% of portfolio
 		USB
U.S. Bancorp
2.47% of portfolio
 		GHC
Graham Holdings Co.
1.51% of portfolio
 		UNP
Union Pacific
0.96% of portfolio
 		NKE
NIKE Inc.
0.88% of portfolio
 		CEG
Constellation Energy Corp.
0.75% of portfolio
 		MTB
M&T Bank Corp.
0.74% of portfolio
 		COST
Costco Co.
0.60% of portfolio
 		ELV
Elevance Health Inc.
0.44% of portfolio
 		CMCSK-OLD
Comcast Corp. CL A Spl
0.38% of portfolio
2008   Q4$51.9 B KO
Coca Cola Co.
17.46% of portfolio
 		WFC
Wells Fargo
16.49% of portfolio
 		PG
Procter & Gamble
11.48% of portfolio
 		BNI
Burlington Northern Santa Fe
10.23% of portfolio
 		COP
ConocoPhillips
7.98% of portfolio
 		MDLZ
Mondelez International
7.16% of portfolio
 		AXP
American Express
5.42% of portfolio
 		JNJ
Johnson & Johnson
3.30% of portfolio
 		USB
U.S. Bancorp
3.26% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.17% of portfolio
 		WMT
Walmart Inc.
2.16% of portfolio
 		MCO
Moody's Corp.
1.86% of portfolio
 		GHC
Graham Holdings Co.
1.30% of portfolio
 		CEG
Constellation Energy Corp.
0.96% of portfolio
 		UNP
Union Pacific
0.82% of portfolio
 		NKE
NIKE Inc.
0.75% of portfolio
 		MTB
M&T Bank Corp.
0.74% of portfolio
 		COST
Costco Co.
0.53% of portfolio
 		ELV
Elevance Health Inc.
0.39% of portfolio
 		CMCSK-OLD
Comcast Corp.
0.37% of portfolio
2008   Q3$69.9 B WFC
Wells Fargo
15.59% of portfolio
 		KO
Coca Cola Co.
15.13% of portfolio
 		PG
Procter & Gamble
10.55% of portfolio
 		COP
ConocoPhillips
8.80% of portfolio
 		BNI
Burlington Northern Santa Fe
8.44% of portfolio
 		AXP
American Express
7.69% of portfolio
 		MDLZ
Mondelez International
6.48% of portfolio
 		JNJ
Johnson & Johnson
6.12% of portfolio
 		USB
U.S. Bancorp
3.76% of portfolio
 		WSC-OLD
Wesco Financial Corp.
2.91% of portfolio
 		MCO
Moody's Corp.
2.34% of portfolio
 		WMT
Walmart Inc.
1.71% of portfolio
 		GHC
Graham Holdings Co.
1.38% of portfolio
 		BUD
Anheuser-Busch InBev
1.29% of portfolio
 		UNP
Union Pacific
0.91% of portfolio
 		MTB
M&T Bank Corp.
0.86% of portfolio
 		NKE
NIKE Inc.
0.73% of portfolio
 		USG
USG Corp.
0.63% of portfolio
 		COST
Costco Co.
0.49% of portfolio
 		KMX
CarMax Inc.
0.37% of portfolio
2008   Q2$63.5 B KO
Coca Cola Co.
16.37% of portfolio
 		WFC
Wells Fargo
10.87% of portfolio
 		PG
Procter & Gamble
10.13% of portfolio
 		BNI
Burlington Northern Santa Fe
10.03% of portfolio
 		AXP
American Express
8.99% of portfolio
 		COP
ConocoPhillips
8.87% of portfolio
 		JNJ
Johnson & Johnson
6.26% of portfolio
 		MDLZ
Mondelez International
6.19% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.43% of portfolio
 		USB
U.S. Bancorp
3.01% of portfolio
 		MCO
Moody's Corp.
2.60% of portfolio
 		WMT
Walmart Inc.
1.76% of portfolio
 		GHC
Graham Holdings Co.
1.60% of portfolio
 		BUD
Anheuser-Busch InBev
1.35% of portfolio
 		UNP
Union Pacific
1.06% of portfolio
 		USG
USG Corp.
0.79% of portfolio
 		MTB
M&T Bank Corp.
0.75% of portfolio
 		NKE
NIKE Inc.
0.72% of portfolio
 		COST
Costco Co.
0.58% of portfolio
 		KMX
CarMax Inc.
0.48% of portfolio
2008   Q1$66.5 B KO
Coca Cola Co.
18.32% of portfolio
 		WFC
Wells Fargo
12.73% of portfolio
 		PG
Procter & Gamble
11.16% of portfolio
 		AXP
American Express
9.97% of portfolio
 		BNI
Burlington Northern Santa Fe
8.85% of portfolio
 		MDLZ
Mondelez International
6.45% of portfolio
 		JNJ
Johnson & Johnson
6.03% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.47% of portfolio
 		USB
U.S. Bancorp
3.34% of portfolio
 		BUD
Anheuser-Busch InBev
2.54% of portfolio
 		MCO
Moody's Corp.
2.52% of portfolio
 		COP
ConocoPhillips
2.01% of portfolio
 		GHC
Graham Holdings Co.
1.72% of portfolio
 		WMT
Walmart Inc.
1.58% of portfolio
 		USG
USG Corp.
0.95% of portfolio
 		UNP
Union Pacific
0.84% of portfolio
 		MTB
M&T Bank Corp.
0.81% of portfolio
 		NKE
NIKE Inc.
0.78% of portfolio
 		TT
Trane Technologies plc
0.75% of portfolio
 		KMX
CarMax Inc.
0.62% of portfolio
2007   Q4$68.8 B KO
Coca Cola Co.
17.85% of portfolio
 		WFC
Wells Fargo
12.70% of portfolio
 		AXP
American Express
11.47% of portfolio
 		PG
Procter & Gamble
11.30% of portfolio
 		BNI
Burlington Northern Santa Fe
7.36% of portfolio
 		MDLZ
Mondelez International
6.28% of portfolio
 		JNJ
Johnson & Johnson
5.99% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.32% of portfolio
 		USB
U.S. Bancorp
3.12% of portfolio
 		BUD
Anheuser-Busch InBev
2.72% of portfolio
 		MCO
Moody's Corp.
2.49% of portfolio
 		COP
ConocoPhillips
2.25% of portfolio
 		GHC
Graham Holdings Co.
1.99% of portfolio
 		WMT
Walmart Inc.
1.38% of portfolio
 		USG
USG Corp.
0.89% of portfolio
 		UNP
Union Pacific
0.81% of portfolio
 		MTB
M&T Bank Corp.
0.80% of portfolio
 		TT
Trane Technologies plc
0.74% of portfolio
 		NKE
NIKE Inc.
0.71% of portfolio
 		KMX
CarMax Inc.
0.60% of portfolio
2007   Q3$65.8 B KO
Coca Cola Co.
17.47% of portfolio
 		WFC
Wells Fargo
15.14% of portfolio
 		AXP
American Express
13.68% of portfolio
 		PG
Procter & Gamble
11.31% of portfolio
 		BNI
Burlington Northern Santa Fe
6.54% of portfolio
 		JNJ
Johnson & Johnson
6.15% of portfolio
 		MCO
Moody's Corp.
3.68% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.45% of portfolio
 		USB
U.S. Bancorp
3.24% of portfolio
 		BUD
Anheuser-Busch InBev
2.70% of portfolio
 		COP
ConocoPhillips
2.34% of portfolio
 		GHC
Graham Holdings Co.
2.11% of portfolio
 		WMT
Walmart Inc.
1.32% of portfolio
 		MTB
M&T Bank Corp.
1.05% of portfolio
 		USG
USG Corp.
0.97% of portfolio
 		UNP
Union Pacific
0.77% of portfolio
 		BAC
Bank of America Corp.
0.70% of portfolio
 		NKE
NIKE Inc.
0.68% of portfolio
 		TT
Trane Technologies plc
0.59% of portfolio
 		DJ-OLD
Dow Jones & Co.
0.58% of portfolio
2007   Q2$62.1 B KO
Coca Cola Co.
16.84% of portfolio
 		AXP
American Express
14.93% of portfolio
 		WFC
Wells Fargo
14.59% of portfolio
 		PG
Procter & Gamble
10.37% of portfolio
 		BNI
Burlington Northern Santa Fe
5.35% of portfolio
 		JNJ
Johnson & Johnson
5.27% of portfolio
 		MCO
Moody's Corp.
4.81% of portfolio
 		WSC-OLD
Wesco Financial Corp.
3.53% of portfolio
 		BUD
Anheuser-Busch InBev
2.99% of portfolio
 		COP
ConocoPhillips
2.27% of portfolio
 		GHC
Graham Holdings Co.
2.16% of portfolio
 		USB
U.S. Bancorp
1.97% of portfolio
 		WMT
Walmart Inc.
1.54% of portfolio
 		UNP
Union Pacific
1.37% of portfolio
 		USG
USG Corp.
1.35% of portfolio
 		MTB
M&T Bank Corp.
1.15% of portfolio
 		TT
Trane Technologies plc
1.05% of portfolio
 		NKE
NIKE Inc.
0.75% of portfolio
 		BAC
Bank of America Corp.
0.68% of portfolio
 		ELV
Elevance Health Inc.
0.54% of portfolio
2007   Q1$57.5 B KO
Coca Cola Co.
16.69% of portfolio
 		AXP
American Express
14.87% of portfolio
 		WFC
Wells Fargo
13.91% of portfolio
 		PG
Procter & Gamble
10.98% of portfolio
 		MCO
Moody's Corp
5.18% of portfolio
 		JNJ
Johnson & Johnson
5.10% of portfolio
 		BNI
Burlington Northern Santa Fe
4.85% of portfolio
 		WSC-OLD
Wesco Financial Corp.
4.56% of portfolio
 		BUD
Anheuser-Busch InBev
3.12% of portfolio
 		GHC
Graham Holdings Co.
2.29% of portfolio
 		COP
ConocoPhillips
2.13% of portfolio
 		UNP
Union Pacific
1.86% of portfolio
 		WMT
Walmart Inc.
1.63% of portfolio
 		USB
U.S. Bancorp
1.42% of portfolio
 		USG
USG Corp.
1.39% of portfolio
 		MTB
M&T Bank Corp.
1.35% of portfolio
 		TT
Trane Technologies plc
1.02% of portfolio
 		NKE
NIKE Inc.
0.74% of portfolio
 		NSC
Norfolk Southern Corp.
0.56% of portfolio
 		TYC
Tyco International
0.55% of portfolio
2006   Q4$52.8 B KO
Coca Cola Co.
18.28% of portfolio
 		AXP
American Express
17.43% of portfolio
 		WFC
Wells Fargo
13.75% of portfolio
 		PG
Procter & Gamble
12.18% of portfolio
 		MCO
Moody's Corp
6.28% of portfolio
 		WSC-OLD
Wesco Financial Corp.
4.97% of portfolio
 		BUD
Anheuser-Busch InBev
3.39% of portfolio
 		JNJ
Johnson & Johnson
3.08% of portfolio
 		COP
ConocoPhillips
2.45% of portfolio
 		GHC
Graham Holdings Co.
2.44% of portfolio
 		USG
USG Corp.
1.77% of portfolio
 		WMT
Walmart Inc.
1.74% of portfolio
 		USB
U.S. Bancorp
1.60% of portfolio
 		MTB
M&T Bank Corp.
1.55% of portfolio
 		TT
Trane Technologies plc
0.96% of portfolio
 		AMP
Ameriprise Financial Inc.
0.85% of portfolio
 		NKE
NIKE Inc.
0.75% of portfolio
 		CMCSK-OLD
Comcast Corp.
0.63% of portfolio
 		TYC
Tyco International
0.58% of portfolio
 		GE
GE Aerospace
0.55% of portfolio