0001193125-12-470759.txt : 20121114 0001193125-12-470759.hdr.sgml : 20121114 20121114163100 ACCESSION NUMBER: 0001193125-12-470759 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120930 FILED AS OF DATE: 20121114 DATE AS OF CHANGE: 20121114 EFFECTIVENESS DATE: 20121114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TCTC Holdings, LLC CENTRAL INDEX KEY: 0001483870 IRS NUMBER: 800500233 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13830 FILM NUMBER: 121205127 BUSINESS ADDRESS: STREET 1: 2626 COLE AVENUE STREET 2: SUITE 705 CITY: DALLAS STATE: TX ZIP: 75204 BUSINESS PHONE: 2144680104 MAIL ADDRESS: STREET 1: 2626 COLE AVENUE STREET 2: SUITE 705 CITY: DALLAS STATE: TX ZIP: 75204 13F-HR 1 d439556d13fhr.txt 13F-HR EXECUTION COPY ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: September 30, 2012 Check here if Amendment [ ] Amendment Number: ___________ This Amendment (Check only one.): [ ] is a restatement [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: TCTC Holdings, LLC Address: 2626 Cole Avenue Suite 705 Dallas, Texas 75204 Form 13F File Number: 028-13830 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Sarah Heimbach Title: Chief Compliance Officer Phone: (214) 468-0100 Signature, Place, and Date of Signing: /s/ Sarah Heimbach Dallas, TX November 14, 2012 ----------------------- ------------------ ---------------------- (Signature) (City, State) (Date) Report Type ( Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) ================================================================================ FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 231 Form 13F Information Table Value Total: 1,451,904 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 028-12874 Turtle Creek Management, LLC 2 028-13831 Turtle Creek Trust Company Explanatory Note: Turtle Creek Management, LLC ("TCM") and Turtle Creek Trust Company ("TCT Co") hereby advise that TCTC Holdings, LLC may be deemed to have investment discretion for both TCM and TCT Co, for purposes of Rule 13f-1(b) of the Securities Exchange Act of 1934, over certain 13(f) securities for which TCM and TCT Co exercise direct control. FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- ---------------- --------- -------- ------------------- ---------- -------- ------------------------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ------------------------- NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ------- 3M CO COM 88579Y101 1,699 18,384 SH Defined 1 18,384 3M CO COM 88579Y101 10,166 110,000 SH Defined 2 110,000 ABBOTT LABS COM 002824100 5,345 77,954 SH Defined 1 77,954 ABBOTT LABS COM 002824100 2,029 29,600 SH Defined 2 29,600 ABM INDS INC COM 000957100 195 10,300 SH Defined 1 10,300 ADOBE SYS INC COM 00724F101 203 6,270 SH Defined 1 6,270 AFLAC INC COM 001055102 2,687 56,125 SH Defined 1 56,125 AFLAC INC COM 001055102 19,138 399,700 SH Defined 2 399,700 AIR PRODS & CHEMS INC COM 009158106 339 4,101 SH Defined 1 4,101 ALCOA INC COM 013817101 189 21,300 SH Defined 1 21,300 ALLERGAN INC COM 018490102 969 10,579 SH Defined 1 10,579 ALTRIA GROUP INC COM 02209S103 1,294 38,744 SH Defined 1 38,744 ALTRIA GROUP INC COM 02209S103 11,119 333,000 SH Defined 2 333,000 AMAZON COM INC COM 023135106 547 2,151 SH Defined 1 2,151 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 4,421 173,834 SH Defined 1 173,834 AMERICAN EXPRESS CO COM 025816109 366 6,444 SH Defined 1 6,444 AMGEN INC COM 031162100 1,271 15,075 SH Defined 1 15,075 ANADARKO PETE CORP COM 032511107 1,922 27,482 SH Defined 1 27,482 AON PLC SHS CL A G0408V102 8,366 160,000 SH Defined 2 160,000 APACHE CORP COM 037411105 2,405 27,810 SH Defined 1 27,810 APACHE CORP COM 037411105 865 10,000 SH Defined 2 10,000 APPLE INC COM 037833100 1,864 2,794 SH Defined 1 2,794 AT&T INC COM 00206R102 5,278 140,001 SH Defined 1 140,001 AT&T INC COM 00206R102 7,766 206,000 SH Defined 2 206,000 ATMOS ENERGY CORP COM 049560105 433 12,100 SH Defined 1 12,100 AUTOMATIC DATA PROCESSING IN COM 053015103 3,140 53,528 SH Defined 1 53,528 AUTOMATIC DATA PROCESSING IN COM 053015103 2,253 38,400 SH Defined 2 38,400 BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 77 10,000 SH Defined 1 10,000 BANK OF AMERICA CORPORATION COM 060505104 741 83,931 SH Defined 1 83,931 BANK OF AMERICA CORPORATION COM 060505104 4,018 455,000 SH Defined 2 455,000 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 9,080 102,949 SH Defined 1 102,949 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 10,011 113,500 SH Defined 2 113,500 BP PLC SPONSORED ADR 055622104 885 20,898 SH Defined 1 20,898 BP PLC SPONSORED ADR 055622104 42 1,000 SH Defined 2 1,000 BRISTOL MYERS SQUIBB CO COM 110122108 229 6,780 SH Defined 1 6,780 BRISTOL MYERS SQUIBB CO COM 110122108 11,475 340,000 SH Defined 2 340,000 CA INC COM 12673P105 7 290 SH Defined 1 290 CA INC COM 12673P105 10,821 420,000 SH Defined 2 420,000 CAMERON INTERNATIONAL CORP COM 13342B105 2,977 53,100 SH Defined 1 53,100 CAMERON INTERNATIONAL CORP COM 13342B105 3,806 67,880 SH Defined 2 67,880 CARBO CERAMICS INC COM 140781105 1,710 27,170 SH Defined 1 27,170 CHEVRON CORP NEW COM 166764100 1,095 9,392 SH Defined 1 9,392 CHUBB CORP COM 171232101 2,814 36,894 SH Defined 1 36,894 CHUBB CORP COM 171232101 28,895 378,800 SH Defined 2 378,800 CISCO SYS INC COM 17275R102 4,174 218,617 SH Defined 1 218,617 CISCO SYS INC COM 17275R102 191 10,000 SH Defined 2 10,000

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- ---------------- --------- -------- ------------------- ---------- -------- ------------------------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ------------------------- NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ------- CITIGROUP INC COM NEW 172967424 204 6,249 SH Defined 1 6,249 COCA COLA CO COM 191216100 976 25,724 SH Defined 1 25,724 COCA COLA CO COM 191216100 3,913 103,176 SH Defined 2 103,176 COLGATE PALMOLIVE CO COM 194162103 1,569 14,633 SH Defined 1 14,633 COMCAST CORP NEW CL A 20030N101 267 7,462 SH Defined 1 7,462 COMCAST CORP NEW CL A 20030N101 5,966 166,900 SH Defined 2 166,900 CONOCOPHILLIPS COM 20825C104 3,385 59,206 SH Defined 1 59,206 CONOCOPHILLIPS COM 20825C104 14,541 254,300 SH Defined 2 254,300 COSTCO WHSL CORP NEW COM 22160K105 65 650 SH Defined 1 650 COSTCO WHSL CORP NEW COM 22160K105 160 1,600 SH Defined 2 1,600 CULLEN FROST BANKERS INC COM 229899109 4,003 69,710 SH Defined 1 69,710 CULLEN FROST BANKERS INC COM 229899109 4,566 79,500 SH Defined 2 79,500 CUSHING MLP TOTAL RETURN FD COM SHS 231631102 5,170 590,872 SH Defined 1 590,872 CUSHING MLP TOTAL RETURN FD COM SHS 231631102 162 18,500 SH Defined 2 18,500 CVS CAREMARK CORPORATION COM 126650100 2,571 53,090 SH Defined 1 53,090 DELL INC COM 24702R101 1,852 187,905 SH Defined 1 187,905 DELL INC COM 24702R101 5,261 533,850 SH Defined 2 533,850 DEVON ENERGY CORP NEW COM 25179M103 4,740 78,353 SH Defined 1 78,353 DEVON ENERGY CORP NEW COM 25179M103 2,456 40,600 SH Defined 2 40,600 DIAGEO P L C SPON ADR NEW 25243Q205 2,282 20,240 SH Defined 1 20,240 DIAGEO P L C SPON ADR NEW 25243Q205 4,774 42,350 SH Defined 2 42,350 DISCOVER FINL SVCS COM 254709108 813 20,460 SH Defined 1 20,460 DISNEY WALT CO COM DISNEY 254687106 462 8,845 SH Defined 1 8,845 DOMINION RES INC VA NEW COM 25746U109 884 16,692 SH Defined 1 16,692 DONNELLEY R R & SONS CO COM 257867101 138 13,000 SH Defined 1 13,000 DOVER CORP COM 260003108 208 3,500 SH Defined 1 3,500 DR PEPPER SNAPPLE GROUP INC COM 26138E109 730 16,398 SH Defined 1 16,398 DUKE REALTY CORP COM NEW 264411505 873 59,354 SH Defined 1 59,354 E M C CORP MASS COM 268648102 284 10,411 SH Defined 1 10,411 EBAY INC COM 278642103 4,457 92,150 SH Defined 1 92,150 EBAY INC COM 278642103 5,586 115,475 SH Defined 2 115,475 ECOLAB INC COM 278865100 833 12,850 SH Defined 2 12,850 EMERSON ELEC CO COM 291011104 6,004 124,391 SH Defined 1 124,391 EMERSON ELEC CO COM 291011104 917 19,000 SH Defined 2 19,000 ENDO HEALTH SOLUTIONS INC COM 29264F205 6,509 205,216 SH Defined 1 205,216 ENDO HEALTH SOLUTIONS INC COM 29264F205 1,285 40,500 SH Defined 2 40,500 ENTERGY CORP NEW COM 29364G103 475 6,861 SH Defined 1 6,861 EOG RES INC COM 26875P101 76 675 SH Defined 1 675 EOG RES INC COM 26875P101 280 2,500 SH Defined 2 2,500 EVEREST RE GROUP LTD COM G3223R108 396 3,700 SH Defined 1 3,700 EVEREST RE GROUP LTD COM G3223R108 6,503 60,800 SH Defined 2 60,800 EXXON MOBIL CORP COM 30231G102 10,129 110,756 SH Defined 1 110,756 EXXON MOBIL CORP COM 30231G102 3,691 40,359 SH Defined 2 40,359 FEI CO COM 30241L109 988 18,466 SH Defined 1 18,466 FLUOR CORP NEW COM 343412102 5,936 105,475 SH Defined 1 105,475 FLUOR CORP NEW COM 343412102 9,990 177,500 SH Defined 2 177,500 FORD MTR CO DEL COM PAR $0.01 345370860 103 10,440 SH Defined 1 10,440 FRONTIER COMMUNICATIONS CORP COM 35906A108 141 28,689 SH Defined 1 28,689 GASTAR EXPL LTD COM NEW 367299203 41 25,000 SH Defined 1 25,000 GENERAL DYNAMICS CORP COM 369550108 212 3,200 SH Defined 1 3,200 GENERAL ELECTRIC CO COM 369604103 5,019 220,993 SH Defined 1 220,993 GENERAL ELECTRIC CO COM 369604103 13,637 600,500 SH Defined 2 600,500 GENUINE PARTS CO COM 372460105 250 4,100 SH Defined 1 4,100 GOOGLE INC CL A 38259P508 712 944 SH Defined 1 944 GRAINGER W W INC COM 384802104 10 50 SH Defined 1 50

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- ---------------- --------- -------- ------------------- ---------- -------- ------------------------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ------------------------- NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ------- GRAINGER W W INC COM 384802104 198 950 SH Defined 2 950 HELIX ENERGY SOLUTIONS GRP I COM 42330P107 4,709 257,767 SH Defined 1 257,767 HELIX ENERGY SOLUTIONS GRP I COM 42330P107 822 45,000 SH Defined 2 45,000 HEWLETT PACKARD CO COM 428236103 271 15,862 SH Defined 1 15,862 HOLLYFRONTIER CORP COM 436106108 25,917 627,975 SH Defined 1 627,975 HOLLYFRONTIER CORP COM 436106108 563,187 13,646,398 SH Defined 2 13,646,398 INTEL CORP COM 458140100 4,144 182,936 SH Defined 1 182,936 INTEL CORP COM 458140100 9,318 411,300 SH Defined 2 411,300 INTERNATIONAL BUSINESS MACHS COM 459200101 6,567 31,657 SH Defined 1 31,657 INTERNATIONAL BUSINESS MACHS COM 459200101 80,926 390,100 SH Defined 2 390,100 INTUITIVE SURGICAL INC COM NEW 46120E602 270 545 SH Defined 1 545 ISHARES INC MSCI JAPAN 464286848 297 32,400 SH Defined 1 32,400 ISHARES INC MSCI PAC J IDX 464286665 2,675 59,993 SH Defined 1 59,993 ISHARES INC MSCI PAC J IDX 464286665 111 2,500 SH Defined 2 2,500 ISHARES TR BARCLYS 1-3YR CR 464288646 11,836 111,915 SH Defined 1 111,915 ISHARES TR BARCLYS 1-3YR CR 464288646 592 5,600 SH Defined 2 5,600 ISHARES TR RUSL 2000 VALU 464287630 385 5,212 SH Defined 1 5,212 ISHARES TR RUSSELL MIDCAP 464287499 289 2,613 SH Defined 1 2,613 ISHARES TR S&P 500 INDEX 464287200 292 2,025 SH Defined 1 2,025 ISHARES TR S&P SMLCAP 600 464287804 472 6,128 SH Defined 1 6,128 ISHARES TR FTSE CHINA25 IDX 464287184 2,532 73,170 SH Defined 1 73,170 ISHARES TR FTSE CHINA25 IDX 464287184 35 1,000 SH Defined 2 1,000 ISHARES TR MSCI EAFE INDEX 464287465 1,087 20,503 SH Defined 1 20,503 ISHARES TR MSCI EMERG MKT 464287234 2,488 60,203 SH Defined 1 60,203 ISHARES TR US PFD STK IDX 464288687 927 23,250 SH Defined 1 23,250 JOHNSON & JOHNSON COM 478160104 2,799 40,617 SH Defined 1 40,617 JOHNSON & JOHNSON COM 478160104 2,482 36,015 SH Defined 2 36,015 JOS A BANK CLOTHIERS INC COM 480838101 1,802 37,167 SH Defined 1 37,167 JPMORGAN CHASE & CO COM 46625H100 2,845 70,271 SH Defined 1 70,271 JPMORGAN CHASE & CO COM 46625H100 12,225 302,000 SH Defined 2 302,000 KAYNE ANDERSON MLP INVSMNT C COM 486606106 125 4,000 SH Defined 1 4,000 KAYNE ANDERSON MLP INVSMNT C COM 486606106 178 5,700 SH Defined 2 5,700 KIMBERLY CLARK CORP COM 494368103 277 3,235 SH Defined 1 3,235 L-3 COMMUNICATIONS HLDGS INC COM 502424104 1,549 21,602 SH Defined 1 21,602 L-3 COMMUNICATIONS HLDGS INC COM 502424104 1,198 16,700 SH Defined 2 16,700 LIBERTY GLOBAL INC COM SER C 530555309 554 9,800 SH Defined 2 9,800 LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 70 3,775 SH Defined 1 3,775 LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 2,123 114,775 SH Defined 2 114,775 LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 9 187 SH Defined 1 187 LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 285 5,738 SH Defined 2 5,738 LOWES COS INC COM 548661107 4,360 144,194 SH Defined 1 144,194 LOWES COS INC COM 548661107 151 5,000 SH Defined 2 5,000 MARATHON PETE CORP COM 56585A102 4,862 89,071 SH Defined 1 89,071 MARATHON PETE CORP COM 56585A102 573 10,500 SH Defined 2 10,500 MARSH & MCLENNAN COS INC COM 571748102 238 7,000 SH Defined 1 7,000 MAXIM INTEGRATED PRODS INC COM 57772K101 1,286 48,311 SH Defined 1 48,311 MCDONALDS CORP COM 580135101 433 4,716 SH Defined 1 4,716 MEDTRONIC INC COM 585055106 3,008 69,748 SH Defined 1 69,748 MERCK & CO INC NEW COM 58933Y105 1,598 35,435 SH Defined 1 35,435 MERCK & CO INC NEW COM 58933Y105 6,313 140,000 SH Defined 2 140,000 MICROSOFT CORP COM 594918104 5,756 193,419 SH Defined 1 193,419 MICROSOFT CORP COM 594918104 13,499 453,600 SH Defined 2 453,600 MONSANTO CO NEW COM 61166W101 218 2,400 SH Defined 1 2,400 MORGAN STANLEY COM NEW 617446448 360 21,500 SH Defined 1 21,500 NATIONAL OILWELL VARCO INC COM 637071101 291 3,637 SH Defined 1 3,637 NEXTERA ENERGY INC COM 65339F101 4,202 59,750 SH Defined 1 59,750

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- ---------------- --------- -------- ------------------- ---------- -------- ------------------------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ------------------------- NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ------- NEXTERA ENERGY INC COM 65339F101 2,419 34,400 SH Defined 2 34,400 NOVARTIS A G SPONSORED ADR 66987V109 4,681 76,417 SH Defined 1 76,417 NOVARTIS A G SPONSORED ADR 66987V109 21,812 356,050 SH Defined 2 356,050 OCCIDENTAL PETE CORP DEL COM 674599105 5,093 59,174 SH Defined 1 59,174 OCCIDENTAL PETE CORP DEL COM 674599105 16,007 186,000 SH Defined 2 186,000 OLD REP INTL CORP COM 680223104 3,406 366,200 SH Defined 1 366,200 OLD REP INTL CORP COM 680223104 6,609 710,628 SH Defined 2 710,628 ONLINE RES CORP COM 68273G101 645 220,300 SH Defined 1 220,300 PEPSICO INC COM 713448108 4,930 69,657 SH Defined 1 69,657 PEPSICO INC COM 713448108 11,085 156,635 SH Defined 2 156,635 PFIZER INC COM 717081103 4,955 199,414 SH Defined 1 199,414 PFIZER INC COM 717081103 21,147 851,000 SH Defined 2 851,000 PHILIP MORRIS INTL INC COM 718172109 1,223 13,599 SH Defined 1 13,599 PHILIP MORRIS INTL INC COM 718172109 14,813 164,700 SH Defined 2 164,700 PHILLIPS 66 COM 718546104 1,405 30,301 SH Defined 1 30,301 PHILLIPS 66 COM 718546104 5,896 127,150 SH Defined 2 127,150 PLUM CREEK TIMBER CO INC COM 729251108 217 4,950 SH Defined 1 4,950 PRAXAIR INC COM 74005P104 3,690 35,517 SH Defined 1 35,517 PRAXAIR INC COM 74005P104 12,050 116,000 SH Defined 2 116,000 PRICE T ROWE GROUP INC COM 74144T108 4,373 69,082 SH Defined 1 69,082 PROCTER & GAMBLE CO COM 742718109 3,838 55,330 SH Defined 1 55,330 PROCTER & GAMBLE CO COM 742718109 679 9,791 SH Defined 2 9,791 QUALCOMM INC COM 747525103 408 6,526 SH Defined 1 6,526 REGIONS FINANCIAL CORP NEW COM 7591EP100 72 10,000 SH Defined 1 10,000 RENAISSANCERE HOLDINGS LTD COM G7496G103 11,556 150,000 SH Defined 2 150,000 RETRACTABLE TECHNOLOGIES INC COM 76129W105 17 15,000 SH Defined 1 15,000 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 427 6,159 SH Defined 1 6,159 SALESFORCE COM INC COM 79466L302 379 2,480 SH Defined 1 2,480 SCHLUMBERGER LTD COM 806857108 4,585 63,391 SH Defined 1 63,391 SCHLUMBERGER LTD COM 806857108 1,497 20,700 SH Defined 2 20,700 SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 270 3,680 SH Defined 1 3,680 SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 375 10,300 SH Defined 1 10,300 SERVICE CORP INTL COM 817565104 471 35,000 SH Defined 1 35,000 SIEMENS A G SPONSORED ADR 826197501 796 7,950 SH Defined 1 7,950 SONOCO PRODS CO COM 835495102 222 7,152 SH Defined 1 7,152 SOUTHERN CO COM 842587107 505 10,950 SH Defined 1 10,950 SOUTHWEST AIRLS CO COM 844741108 1,199 136,682 SH Defined 1 136,682 SOUTHWESTERN ENERGY CO COM 845467109 479 13,770 SH Defined 1 13,770 SPDR GOLD TRUST GOLD SHS 78463V107 1,599 9,300 SH Defined 1 9,300 SPDR S&P 500 ETF TR TR UNIT 78462F103 411 2,856 SH Defined 1 2,856 STARBUCKS CORP COM 855244109 221 4,360 SH Defined 1 4,360 STRYKER CORP COM 863667101 1,546 27,783 SH Defined 1 27,783 SYSCO CORP COM 871829107 2,037 65,146 SH Defined 1 65,146 TARGET CORP COM 87612E106 2,532 39,895 SH Defined 1 39,895 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 5,501 132,847 SH Defined 1 132,847 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 2,588 62,500 SH Defined 2 62,500 TEXAS INSTRS INC COM 882508104 1,825 66,220 SH Defined 1 66,220 TEXAS INSTRS INC COM 882508104 1,584 57,500 SH Defined 2 57,500 TIFFANY & CO NEW COM 886547108 1,874 30,281 SH Defined 1 30,281 TRANSOCEAN LTD REG SHS H8817H100 213 4,739 SH Defined 1 4,739 TYLER TECHNOLOGIES INC COM 902252105 440 10,000 SH Defined 1 10,000 UNITED PARCEL SERVICE INC CL B 911312106 1,520 21,233 SH Defined 1 21,233 UNITED TECHNOLOGIES CORP COM 913017109 1,897 24,230 SH Defined 1 24,230 US BANCORP DEL COM NEW 902973304 140 4,075 SH Defined 1 4,075 US BANCORP DEL COM NEW 902973304 2,716 79,190 SH Defined 2 79,190

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- ---------------- --------- -------- ------------------- ---------- -------- ------------------------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ------------------------- NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ------- VALERO ENERGY CORP NEW COM 91913Y100 263 8,300 SH Defined 1 8,300 VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 15,449 189,670 SH Defined 1 189,670 VERIZON COMMUNICATIONS INC COM 92343V104 944 20,715 SH Defined 1 20,715 VISA INC COM CL A 92826C839 461 3,430 SH Defined 1 3,430 WALGREEN CO COM 931422109 2,552 70,025 SH Defined 1 70,025 WALGREEN CO COM 931422109 13,776 378,050 SH Defined 2 378,050 WAL-MART STORES INC COM 931142103 3,187 43,179 SH Defined 1 43,179 WAL-MART STORES INC COM 931142103 4,790 64,910 SH Defined 2 64,910 WASTE MGMT INC DEL COM 94106L109 4,859 151,475 SH Defined 1 151,475 WASTE MGMT INC DEL COM 94106L109 15,994 498,575 SH Defined 2 498,575 WEATHERFORD INTERNATIONAL LT REG SHS H27013103 2,945 232,293 SH Defined 1 232,293 WEATHERFORD INTERNATIONAL LT REG SHS H27013103 545 43,000 SH Defined 2 43,000 WELLS FARGO & CO NEW COM 949746101 314 9,082 SH Defined 1 9,082 WESTERN UN CO COM 959802109 1,538 84,415 SH Defined 1 84,415 WESTERN UN CO COM 959802109 5,466 300,000 SH Defined 2 300,000 WILLIAMS COS INC DEL COM 969457100 4,335 123,950 SH Defined 1 123,950 WILLIAMS COS INC DEL COM 969457100 23,147 661,900 SH Defined 2 661,900 WPX ENERGY INC COM 98212B103 1,233 74,339 SH Defined 1 74,339 WPX ENERGY INC COM 98212B103 4,443 267,830 SH Defined 2 267,830