The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BANCO BRADESCO S A SP ADR PFD NEW 59460303 2,689 192,500 SH   SOLE   192,500 0 0
BRF-BRASIL FOODS S A SPONSORED ADR 10552T107 2,969 120,000 SH   SOLE   120,000 0 0
CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 139 50,000 SH   SOLE   50,000 0 0
COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 1,068 123,576 SH   SOLE   123,576 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 1,106 24,000 SH   SOLE   24,000 0 0
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 621 145,000 SH   SOLE   145,000 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 1,178 120,000 SH   SOLE   120,000 0 0
COMPANHIA DE BEBIDAS DAS AME SPON ADR PFD 20441W203 2,119 55,000 SH   SOLE   55,000 0 0
EMBRAER S A SP ADR REP 4 COM 29082A107 820 25,000 SH   SOLE   25,000 0 0
GERDAU S A SPONSORED ADR 373737105 1,236 165,000 SH   SOLE   165,000 0 0
GOL LINHAS AEREAS INTLG S A SP ADR REP PFD 38045R107 197 40,000 SH   SOLE   40,000 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 4,092 287,980 SH   SOLE   287,980 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 2,753 175,000 SH   SOLE   175,000 0 0
TELEFONICA BRASIL SA SPONSORED ADR 87936R106 1,061 47,500 SH   SOLE   47,500 0 0
TIM PARTICIPACOES S A SPONSORED ADR 88706P205 897 38,000 SH   SOLE   38,000 0 0
ULTRAPAR PARTICIPACOES S A SP ADR REP COM 90400P101 1,496 60,000 SH   SOLE   60,000 0 0
AGNICO EAGLE MINES LTD COM 8474108 1,181 45,000 SH   SOLE   45,000 0 0
AGRIUM INC COM 8916108 3,350 40,000 SH   SOLE   40,000 0 0
BCE INC COM NEW 05534B760 7,488 175,000 SH   SOLE   175,000 0 0
BANK MONTREAL QUE COM 63671101 10,034 150,000 SH   SOLE   150,000 0 0
BANK NOVA SCOTIA HALIFAX COM 64149107 18,137 315,000 SH   SOLE   315,000 0 0
BARRICK GOLD CORP COM 67901108 3,977 214,000 SH   SOLE   214,000 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 6,795 180,000 SH   SOLE   180,000 0 0
CAMECO CORP COM 13321L108 1,812 100,000 SH   SOLE   100,000 0 0
CDN IMPERIAL BK OF COMMERCE COM 136069101 7,032 88,000 SH   SOLE   88,000 0 0
CANADIAN NATL RY CO COM 136375102 14,357 140,800 SH   SOLE   140,800 0 0
CANADIAN NAT RES LTD COM 136385101 7,622 240,000 SH   SOLE   240,000 0 0
CANADIAN PAC RY LTD COM 13645T100 1,362 11,000 SH   SOLE   11,000 0 0
CENOVUS ENERGY INC COM 15135U109 6,611 220,000 SH   SOLE   220,000 0 0
ELDORADO GOLD CORP NEW COM 284902103 1,208 180,000 SH   SOLE   180,000 0 0
ENCANA CORP COM 292505104 5,401 310,000 SH   SOLE   310,000 0 0
ENBRIDGE INC COM 29250N105 8,802 210,000 SH   SOLE   210,000 0 0
ENERPLUS CORP COM 292766102 1,677 100,000 SH   SOLE   100,000 0 0
GILDAN ACTIVEWEAR INC COM 375916103 2,793 60,000 SH   SOLE   60,000 0 0
GOLDCORP INC NEW COM 380956409 5,453 210,000 SH   SOLE   210,000 0 0
GROUPE CGI INC CL A SUB VTG 39945C109 2,446 70,000 SH   SOLE   70,000 0 0
IMPERIAL OIL LTD COM NEW 453038408 1,548 35,000 SH   SOLE   35,000 0 0
KINROSS GOLD CORP COM NO PAR 496902404 1,641 331,000 SH   SOLE   331,000 0 0
MAGNA INTL INC COM 559222401 4,977 60,000 SH   SOLE   60,000 0 0
PENN WEST PETE LTD NEW COM 707887105 1,387 125,000 SH   SOLE   125,000 0 0
POTASH CORP SASK INC COM 73755L107 7,215 230,000 SH   SOLE   230,000 0 0
ROGERS COMMUNICATIONS INC CL B 775109200 5,175 120,000 SH   SOLE   120,000 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 25,497 394,500 SH   SOLE   394,500 0 0
SHAW COMMUNICATIONS INC CL B CONV 82028K200 2,332 100,000 SH   SOLE   100,000 0 0
SILVER WHEATON CORP COM 828336107 3,956 160,000 SH   SOLE   160,000 0 0
SUNCOR ENERGY INC NEW COM 867224107 15,278 425,000 SH   SOLE   425,000 0 0
TALISMAN ENERGY INC COM 87425E103 2,309 200,000 SH   SOLE   200,000 0 0
TECK RESOURCES LTD CL B 878742204 3,534 131,000 SH   SOLE   131,000 0 0
TELUS CORP COM 87971M103 3,314 100,000 SH   SOLE   100,000 0 0
THOMSON REUTERS CORP COM 884903105 1,581 45,000 SH   SOLE   45,000 0 0
TIM HORTONS INC COM 88706M103 2,319 40,000 SH   SOLE   40,000 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 24,354 270,000 SH   SOLE   270,000 0 0
TRANSCANADA CORP COM 89353D107 8,829 200,000 SH   SOLE   200,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 8,597 82,000 SH   SOLE   82,000 0 0
YAMANA GOLD INC COM 98462Y100 1,961 190,000 SH   SOLE   190,000 0 0
MARATHON OIL CORP COM 565849106 5,851 166,751 SH   SOLE   166,751 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 189 5,000 SH   SOLE   5,000 0 0
MOBILE TELESYSTEMS OJSC SPONSORED ADR 607409109 13,348 596,945 SH   SOLE   596,945 0 0
SCHLUMBERGER LTD COM 806857108 1,081 12,200 SH   SOLE   12,200 0 0
ACCO BRANDS CORP COM 00081T108 18 2,803 SH   SOLE   2,803 0 0
AGL RES INC COM 1204106 2,654 57,781 SH   SOLE   57,781 0 0
AT&T INC COM 00206R102 30,652 906,597 SH   SOLE   906,597 0 0
ABBOTT LABS COM 2824100 22,763 683,176 SH   SOLE   683,176 0 0
ABBVIE INC COM 00287Y109 4,129 92,599 SH   SOLE   92,599 0 0
ABERCROMBIE & FITCH CO CL A 2896207 8,425 237,315 SH   SOLE   237,315 0 0
AETNA INC NEW COM 00817Y108 1,952 30,354 SH   SOLE   30,354 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 5,258 101,871 SH   SOLE   101,871 0 0
AMEREN CORP COM 23608102 6,802 195,237 SH   SOLE   195,237 0 0
AMERICAN ELEC PWR INC COM 25537101 209 4,820 SH   SOLE   4,820 0 0
AMERICAN EXPRESS CO COM 25816109 6,699 88,435 SH   SOLE   88,435 0 0
AMERICAN INTL GROUP INC COM NEW 26874784 381 7,780 SH   SOLE   7,780 0 0
AMGEN INC COM 31162100 258 2,300 SH   SOLE   2,300 0 0
ANADARKO PETE CORP COM 32511107 20,312 217,422 SH   SOLE   217,422 0 0
APPLE INC COM 37833100 18,263 38,192 SH   SOLE   38,192 0 0
AUTODESK INC COM 52769106 287 7,000 SH   SOLE   7,000 0 0
AUTOMATIC DATA PROCESSING IN COM 53015103 7,112 98,344 SH   SOLE   98,344 0 0
AVERY DENNISON CORP COM 53611109 1,955 45,228 SH   SOLE   45,228 0 0
BAKER HUGHES INC COM 57224107 12,462 253,340 SH   SOLE   253,340 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 1,311 190,000 SH   SOLE   190,000 0 0
BANK OF AMERICA CORPORATION COM 60505104 20,630 1,486,294 SH   SOLE   1,486,294 0 0
BAXTER INTL INC COM 71813109 483 7,330 SH   SOLE   7,330 0 0
BECTON DICKINSON & CO COM 75887109 2,187 21,814 SH   SOLE   21,814 0 0
BEMIS INC COM 81437105 2,773 71,143 SH   SOLE   71,143 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 84670702 1,884 16,540 SH   SOLE   16,540 0 0
BEST BUY INC COM 86516101 223 5,940 SH   SOLE   5,940 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 10,544 228,137 SH   SOLE   228,137 0 0
CVS CAREMARK CORPORATION COM 126650100 14,339 249,674 SH   SOLE   249,674 0 0
CA INC COM 12673P105 12,069 404,446 SH   SOLE   404,446 0 0
CAMPBELL SOUP CO COM 134429109 285 7,000 SH   SOLE   7,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 247 3,590 SH   SOLE   3,590 0 0
CARDINAL HEALTH INC COM 14149Y108 2,087 40,088 SH   SOLE   40,088 0 0
CAREFUSION CORP COM 14170T101 146 3,960 SH   SOLE   3,960 0 0
CATERPILLAR INC DEL COM 149123101 201 2,400 SH   SOLE   2,400 0 0
CENTURYLINK INC COM 156700106 221 7,050 SH   SOLE   7,050 0 0
CHEVRON CORP NEW COM 166764100 4,481 36,762 SH   SOLE   36,762 0 0
CHUBB CORP COM 171232101 642 7,180 SH   SOLE   7,180 0 0
CINCINNATI FINL CORP COM 172062101 539 11,410 SH   SOLE   11,410 0 0
CISCO SYS INC COM 17275R102 22,835 974,196 SH   SOLE   974,196 0 0
CITIGROUP INC COM NEW 172967424 1,894 38,870 SH   SOLE   38,870 0 0
CLOROX CO DEL COM 189054109 13,464 164,355 SH   SOLE   164,355 0 0
COCA COLA CO COM 191216100 14,217 375,226 SH   SOLE   375,226 0 0
COLGATE PALMOLIVE CO COM 194162103 454 7,600 SH   SOLE   7,600 0 0
COMCAST CORP NEW CL A 20030N101 2,803 62,182 SH   SOLE   62,182 0 0
COMPUTER SCIENCES CORP COM 205363104 9,817 189,222 SH   SOLE   189,222 0 0
CONAGRA FOODS INC COM 205887102 61 2,000 SH   SOLE   2,000 0 0
CONOCOPHILLIPS COM 20825C104 133 1,910 SH   SOLE   1,910 0 0
CONSOLIDATED EDISON INC COM 209115104 9,534 173,605 SH   SOLE   173,605 0 0
CORNING INC COM 219350105 25,622 1,746,583 SH   SOLE   1,746,583 0 0
COSTCO WHSL CORP NEW COM 22160K105 161 1,400 SH   SOLE   1,400 0 0
DTE ENERGY CO COM 233331107 2,813 42,793 SH   SOLE   42,793 0 0
DENBURY RES INC COM NEW 247916208 13,176 712,619 SH   SOLE   712,619 0 0
DISNEY WALT CO COM DISNEY 254687106 4,811 74,323 SH   SOLE   74,323 0 0
DISCOVER FINL SVCS COM 254709108 2,320 46,007 SH   SOLE   46,007 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 2,002 23,806 SH   SOLE   23,806 0 0
DOW CHEM CO COM 260543103 444 11,500 SH   SOLE   11,500 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 6,620 99,239 SH   SOLE   99,239 0 0
E M C CORP MASS COM 268648102 239 9,280 SH   SOLE   9,280 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 15,412 932,379 SH   SOLE   932,379 0 0
EBAY INC COM 278642103 1,106 19,762 SH   SOLE   19,762 0 0
ENTERGY CORP NEW COM 29364G103 63 1,000 SH   SOLE   1,000 0 0
EXELON CORP COM 30161N101 15,264 517,244 SH   SOLE   517,244 0 0
EXXON MOBIL CORP COM 30231G102 38,948 449,748 SH   SOLE   449,748 0 0
FEDEX CORP COM 31428X106 322 2,820 SH   SOLE   2,820 0 0
FIRST SOLAR INC COM 336433107 96 2,400 SH   SOLE   2,400 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 80 2,410 SH   SOLE   2,410 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 2,889 704,673 SH   SOLE   704,673 0 0
GAMESTOP CORP NEW CL A 36467W109 195 3,930 SH   SOLE   3,930 0 0
GENERAL ELECTRIC CO COM 369604103 605 25,180 SH   SOLE   25,180 0 0
GENERAL MTRS CO COM 37045V100 2,729 75,626 SH   SOLE   75,626 0 0
GILEAD SCIENCES INC COM 375558103 146 2,324 SH   SOLE   2,324 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 289 1,820 SH   SOLE   1,820 0 0
HALLIBURTON CO COM 406216101 2,712 56,133 SH   SOLE   56,133 0 0
HELMERICH & PAYNE INC COM 423452101 12,967 188,224 SH   SOLE   188,224 0 0
HERSHEY CO COM 427866108 65 700 SH   SOLE   700 0 0
HEWLETT PACKARD CO COM 428236103 1,011 48,190 SH   SOLE   48,190 0 0
HOME DEPOT INC COM 437076102 3,343 44,086 SH   SOLE   44,086 0 0
HUMANA INC COM 444859102 6,754 72,447 SH   SOLE   72,447 0 0
ILLINOIS TOOL WKS INC COM 452308109 79 1,030 SH   SOLE   1,030 0 0
INTEL CORP COM 458140100 4,479 194,332 SH   SOLE   194,332 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 12,590 67,726 SH   SOLE   67,726 0 0
INTUIT COM 461202103 1,970 29,730 SH   SOLE   29,730 0 0
JPMORGAN CHASE & CO COM 46625H100 20,404 392,696 SH   SOLE   392,696 0 0
JABIL CIRCUIT INC COM 466313103 12,308 565,346 SH   SOLE   565,346 0 0
JOHNSON & JOHNSON COM 478160104 31,040 358,187 SH   SOLE   358,187 0 0
JOHNSON CTLS INC COM 478366107 209 5,000 SH   SOLE   5,000 0 0
JUNIPER NETWORKS INC COM 48203R104 1,626 81,131 SH   SOLE   81,131 0 0
KEYCORP NEW COM 493267108 19,656 1,728,760 SH   SOLE   1,728,760 0 0
KOHLS CORP COM 500255104 4,814 93,342 SH   SOLE   93,342 0 0
KROGER CO COM 501044101 384 9,490 SH   SOLE   9,490 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 7,059 74,548 SH   SOLE   74,548 0 0
LEGG MASON INC COM 524901105 75 2,240 SH   SOLE   2,240 0 0
LILLY ELI & CO COM 532457108 130 2,580 SH   SOLE   2,580 0 0
LINCOLN NATL CORP IND COM 534187109 332 7,890 SH   SOLE   7,890 0 0
LOWES COS INC COM 548661107 67 1,400 SH   SOLE   1,400 0 0
MCDONALDS CORP COM 580135101 10,058 104,491 SH   SOLE   104,491 0 0
MCGRAW HILL COS INC COM 580645109 2,924 44,482 SH   SOLE   44,482 0 0
MCKESSON CORP COM 58155Q103 78 610 SH   SOLE   610 0 0
MEADWESTVACO CORP COM 583334107 327 8,500 SH   SOLE   8,500 0 0
MEDTRONIC INC COM 585055106 11,251 210,336 SH   SOLE   210,336 0 0
MERCK & CO INC NEW COM 58933Y105 26,956 567,383 SH   SOLE   567,383 0 0
MICROSOFT CORP COM 594918104 28,068 847,990 SH   SOLE   847,990 0 0
MICRON TECHNOLOGY INC COM 595112103 11,076 634,370 SH   SOLE   634,370 0 0
MONDELEZ INTL INC CL A 609207105 626 19,850 SH   SOLE   19,850 0 0
MOODYS CORP COM 615369105 2,828 40,069 SH   SOLE   40,069 0 0
MORGAN STANLEY COM NEW 617446448 514 19,000 SH   SOLE   19,000 0 0
MOSAIC CO NEW COM 61945C103 280 6,520 SH   SOLE   6,520 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 204 3,428 SH   SOLE   3,428 0 0
MURPHY OIL CORP COM 626717102 2,761 45,648 SH   SOLE   45,648 0 0
NETAPP INC COM 64110D104 139 3,270 SH   SOLE   3,270 0 0
NEWFIELD EXPL CO COM 651290108 12,665 462,058 SH   SOLE   462,058 0 0
NEWMONT MINING CORP COM 651639106 303 10,800 SH   SOLE   10,800 0 0
NEWS CORP NEW CL A 65249B109 9,714 605,240 SH   SOLE   605,240 0 0
NIKE INC CL B 654106103 392 5,400 SH   SOLE   5,400 0 0
NVIDIA CORP COM 67066G104 17,862 1,147,927 SH   SOLE   1,147,927 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 77 610 SH   SOLE   610 0 0
ORACLE CORP COM 68389X105 19,628 588,541 SH   SOLE   588,541 0 0
OWENS CORNING NEW COM 690742101 95 2,500 SH   SOLE   2,500 0 0
OWENS ILL INC COM NEW 690768403 1,544 51,519 SH   SOLE   51,519 0 0
PG&E CORP COM 69331C108 2,147 52,461 SH   SOLE   52,461 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,686 37,061 SH   SOLE   37,061 0 0
PPG INDS INC COM 693506107 2,431 14,637 SH   SOLE   14,637 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 8,297 576,966 SH   SOLE   576,966 0 0
PEPSICO INC COM 713448108 4,346 54,732 SH   SOLE   54,732 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 303 17,800 SH   SOLE   17,800 0 0
PFIZER INC COM 717081103 24,434 850,462 SH   SOLE   850,462 0 0
PHILIP MORRIS INTL INC COM 718172109 77 890 SH   SOLE   890 0 0
PINNACLE WEST CAP CORP COM 723484101 3,752 68,539 SH   SOLE   68,539 0 0
PRAXAIR INC COM 74005P104 6,643 55,512 SH   SOLE   55,512 0 0
PRINCIPAL FINL GROUP INC COM 74251V102 275 6,420 SH   SOLE   6,420 0 0
PROCTER & GAMBLE CO COM 742718109 13,884 182,640 SH   SOLE   182,640 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 8,579 261,868 SH   SOLE   261,868 0 0
PUBLIC STORAGE COM 74460D109 10,450 64,744 SH   SOLE   64,744 0 0
QUALCOMM INC COM 747525103 217 3,230 SH   SOLE   3,230 0 0
QUANTA SVCS INC COM 74762E102 1,682 61,087 SH   SOLE   61,087 0 0
QUEST DIAGNOSTICS INC COM 74834L100 2,920 47,238 SH   SOLE   47,238 0 0
RAYTHEON CO COM NEW 755111507 7,798 100,710 SH   SOLE   100,710 0 0
REPUBLIC SVCS INC COM 760759100 11,610 346,659 SH   SOLE   346,659 0 0
ROPER INDS INC NEW COM 776696106 11,558 87,000 SH   SOLE   87,000 0 0
RYDER SYS INC COM 783549108 4,658 77,939 SH   SOLE   77,939 0 0
SL GREEN RLTY CORP COM 78440X101 9,508 107,500 SH   SOLE   107,500 0 0
SLM CORP COM 78442P106 4,501 180,105 SH   SOLE   180,105 0 0
SAFEWAY INC COM NEW 786514208 15,395 480,202 SH   SOLE   480,202 0 0
SEMPRA ENERGY COM 816851109 68 800 SH   SOLE   800 0 0
SIGMA ALDRICH CORP COM 826552101 4,848 56,807 SH   SOLE   56,807 0 0
SIMON PPTY GROUP INC NEW COM 828806109 15,846 106,550 SH   SOLE   106,550 0 0
SNAP ON INC COM 833034101 78 780 SH   SOLE   780 0 0
SOUTHERN CO COM 842587107 2,842 69,268 SH   SOLE   69,268 0 0
SOUTHWEST AIRLS CO COM 844741108 14,290 981,459 SH   SOLE   981,459 0 0
STAPLES INC COM 855030102 18,341 1,251,917 SH   SOLE   1,251,917 0 0
STARBUCKS CORP COM 855244109 308 4,000 SH   SOLE   4,000 0 0
STATE STR CORP COM 857477103 369 5,600 SH   SOLE   5,600 0 0
SYMANTEC CORP COM 871503108 99 4,000 SH   SOLE   4,000 0 0
TECO ENERGY INC COM 872375100 1,711 104,000 SH   SOLE   104,000 0 0
TJX COS INC NEW COM 872540109 174 3,076 SH   SOLE   3,076 0 0
TERADYNE INC COM 880770102 6,695 406,021 SH   SOLE   406,021 0 0
3M CO COM 88579Y101 3,751 31,327 SH   SOLE   31,327 0 0
TIME WARNER INC COM NEW 887317303 6,968 105,635 SH   SOLE   105,635 0 0
TYSON FOODS INC CL A 902494103 17,540 617,593 SH   SOLE   617,593 0 0
UNION PAC CORP COM 907818108 5,215 33,369 SH   SOLE   33,369 0 0
UNITED PARCEL SERVICE INC CL B 911312106 156 1,700 SH   SOLE   1,700 0 0
UNITED TECHNOLOGIES CORP COM 913017109 4,261 39,193 SH   SOLE   39,193 0 0
UNITEDHEALTH GROUP INC COM 91324P102 12,596 176,441 SH   SOLE   176,441 0 0
VALE S A ADR 91912E105 2,742 175,000 SH   SOLE   175,000 0 0
VALERO ENERGY CORP NEW COM 91913Y100 106 3,130 SH   SOLE   3,130 0 0
VERISIGN INC COM 92343E102 1,745 34,239 SH   SOLE   34,239 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 27,148 582,200 SH   SOLE   582,200 0 0
VIACOM INC NEW CL B 92553P201 24,041 286,338 SH   SOLE   286,338 0 0
VISA INC COM CL A 92826C839 380 1,980 SH   SOLE   1,980 0 0
VORNADO RLTY TR SH BEN INT 929042109 828 9,830 SH   SOLE   9,830 0 0
WAL MART STORES INC COM 931142103 24,677 332,793 SH   SOLE   332,793 0 0
WASHINGTON POST CO CL B 939640108 5,041 8,281 SH   SOLE   8,281 0 0
WASTE MGMT INC DEL COM 94106L109 309 7,500 SH   SOLE   7,500 0 0
WELLPOINT INC COM 94973V107 8,846 105,532 SH   SOLE   105,532 0 0
WELLS FARGO & CO NEW COM 949746101 5,264 127,052 SH   SOLE   127,052 0 0
WESTERN UN CO COM 959802109 2,695 145,064 SH   SOLE   145,064 0 0
WEYERHAEUSER CO COM 962166104 229 8,000 SH   SOLE   8,000 0 0
WPX ENERGY INC COM 98212B103 3,613 187,317 SH   SOLE   187,317 0 0
XCEL ENERGY INC COM 98389B100 9,716 353,057 SH   SOLE   353,057 0 0
XEROX CORP COM 984121103 144 13,960 SH   SOLE   13,960 0 0
ZIMMER HLDGS INC COM 98956P102 4,292 52,077 SH   SOLE   52,077 0 0
GAFISA S A SPONS ADR 362607301 384 120,000 SH   SOLE   120,000 0 0