UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 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: American National Insurance Company
Address: One Moody Plaza Galveston, TX 77550
Form 13F File Number: 28-04382
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: Gordon D. Dixon
Title: Senior Vice President/ Chief Investment Officer
Phone: (281) 521-3482
Signature, Place, and Date of Signing:
_____________________________ League City, TX __February 13, 2013
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ ] 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).)
[X] 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).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28- 14457 American National Registered Investment Advisor
[Repeat as necessary.]
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: ______________0__________
Form 13F Information Table Entry Total: ___________322_________
Form 13F Information Table Value Total: ________ 1157_________
(thousands)
List of Other Included Managers: None
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.
FORM 13F INFORMATION TABLE
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 MANAGERS SOLE SHARED NONE
[Repeat as necessary]
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
8Total SA ADR COM 89151e109 1789 34400.00000 SH Sole 34400.00000
ABB Ltd-Spon ADR COM 000375204 662 31850.00000 SH Sole 31850.00000
Abbott Labs. COM 002824100 10808 165000.00000 SH Sole 165000.00000
Adobe Systems COM 00724f101 7231 191900.00000 SH Sole 191900.00000
Aecom Technology Corp COM 00766T100 2254 94725.00000 SH Sole 94725.00000
Aegon NV ADR COM 007924103 72 11200.00000 SH Sole 11200.00000
Akamai Technologies Inc. COM 00971t101 4294 104950.00000 SH Sole 104950.00000
Alcatel-Lucent ADR COM 013904305 28 19900.00000 SH Sole 19900.00000
Allegheny Technologies Inc. COM 01741r102 2740 90250.00000 SH Sole 90250.00000
AllianceBernstein Holding LP COM 01881G106 204 11700.00000 SH Sole 11700.00000
Altria Group, Inc. COM 02209s103 10522 334675.00000 SH Sole 334675.00000
Amdocs Ltd COM G02602103 2768 81425.00000 SH Sole 81425.00000
Amedisys Inc. COM 023436108 708 62585.00000 SH Sole 62585.00000
Ameren Corp. COM 023608102 840 27360.00000 SH Sole 27360.00000
America Movil SA de CV ADR COM 02364w105 666 28800.00000 SH Sole 28800.00000
American Express COM 025816109 7721 134325.00000 SH Sole 134325.00000
American States Water Co COM 029899101 792 16500.00000 SH Sole 16500.00000
Anadarko Petroleum Corp. COM 032511107 6991 94075.00000 SH Sole 94075.00000
Anheuser-Busch COM 03524a108 7504 85850.00000 SH Sole 85850.00000
Apple Inc COM 037833100 33008 62025.00000 SH Sole 62025.00000
Applied Materials Inc. COM 038222105 215 18775.00000 SH Sole 18775.00000
Arrow Financial Corp COM 042744102 1374 55070.00000 SH Sole 55070.00000
Arthur J. Gallagher & Co. COM 363576109 4692 135400.00000 SH Sole 135400.00000
AstraZeneca Group PLC ADR COM 046353108 623 13175.00000 SH Sole 13175.00000
AT&T Inc. COM 00206R102 14547 431528.00000 SH Sole 431528.00000
Atmos Energy Corp. COM 049560105 1751 49850.00000 SH Sole 49850.00000
Avalonbay Communities, Inc. COM 053484101 2187 16129.00000 SH Sole 16129.00000
AXA SA COM 054536107 463 26300.00000 SH Sole 26300.00000
Baker Hughes COM 057224107 3985 97550.00000 SH Sole 97550.00000
Banco Bilbao Vizcaya Argentari COM 05946K101 1006 106836.00006 SH Sole 106836.00006
Banco Santander Central Hispan COM 05964h105 493 60300.00000 SH Sole 60300.00000
Bank of New York Mellon Corp. COM 064058100 6364 247632.00000 SH Sole 247632.00000
Barclays PLC ADR COM 06738e204 615 35500.00000 SH Sole 35500.00000
BASF SE ADR COM 055262505 1355 14450.00000 SH Sole 14450.00000
Baxter International, Inc. COM 071813109 2846 42700.00000 SH Sole 42700.00000
Bed Bath & Beyond Inc. COM 075896100 5348 95650.00000 SH Sole 95650.00000
BG Group Plc ADR COM 055434203 1284 78000.00000 SH Sole 78000.00000
BHP Billiton Ltd. ADR COM 088606108 1637 20875.00000 SH Sole 20875.00000
Blackstone Group LP COM 09253u108 2984 191375.00000 SH Sole 191375.00000
Block H&R COM 093671105 4536 244250.00000 SH Sole 244250.00000
Boardwalk Pipeline Partners L. COM 096627104 1312 52700.00000 SH Sole 52700.00000
Boeing Company COM 097023105 9932 131800.00000 SH Sole 131800.00000
Boston Properties Inc COM 101121101 1280 12100.00000 SH Sole 12100.00000
Boston Scientific COM 101137107 86 15000.00000 SH Sole 15000.00000
BP plc ADR COM 055622104 1857 44600.00000 SH Sole 44600.00000
BRE Properties COM 05564E106 3437 67615.00000 SH Sole 67615.00000
British American Tob SP ADR COM 110448107 1238 12225.00000 SH Sole 12225.00000
Broadcom Corp COM 111320107 3726 112200.00000 SH Sole 112200.00000
BT Group PLC ADR COM 05577e101 704 18500.00000 SH Sole 18500.00000
California Water Service Group COM 130788102 499 27200.00000 SH Sole 27200.00000
Cameron International Corp COM 13342B105 4393 77800.00000 SH Sole 77800.00000
Canon Inc. ADR COM 138006309 968 24675.00000 SH Sole 24675.00000
Capital One Financial COM 14040H105 4847 83675.00000 SH Sole 83675.00000
Carefusion Corp. COM 14170T101 2620 91675.00000 SH Sole 91675.00000
Caterpillar Inc. COM 149123101 4118 45950.00000 SH Sole 45950.00000
CBS Corp. COM 124857202 4311 113300.00000 SH Sole 113300.00000
Celgene Corp. COM 151020104 10191 129875.00000 SH Sole 129875.00000
Cemex SAB de CV ADR COM 151290889 158 15960.00000 SH Sole 15960.00000
CenturyLink Inc. COM 156700106 1613 41223.00000 SH Sole 41223.00000
Charles Schwab Corp. COM 808513105 4093 285000.00000 SH Sole 285000.00000
Charter Communications Inc COM 16117m305 350 4596.00000 SH Sole 4596.00000
Chesapeake Energy Corp COM 165167107 2080 125150.00000 SH Sole 125150.00000
Cheung Kong Limited ADR COM 166744201 629 41000.00000 SH Sole 41000.00000
Chevron Corp. COM 166764100 23043 213086.00005 SH Sole 213086.00005
Church & Dwight Co. COM 171340102 7577 141450.00000 SH Sole 141450.00000
Cincinnati Financial COM 172062101 568 14500.00000 SH Sole 14500.00000
Cinemark Holdings Inc. COM 17243v102 3516 135325.00000 SH Sole 135325.00000
Cisco Systems COM 17275R102 10821 550700.00000 SH Sole 550700.00000
CIT Group COM 125581801 1383 35800.00000 SH Sole 35800.00000
Cliffs Natural Resources Inc COM 18683k101 3330 86325.00000 SH Sole 86325.00000
CMS Energy Corp. COM 125896100 4195 172075.00000 SH Sole 172075.00000
Coca-Cola COM 191216100 881 24300.00000 SH Sole 24300.00000
Comerica, Inc. COM 200340107 516 17000.00000 SH Sole 17000.00000
Companhia De Bebidas-Prf ADR COM 20441W203 976 23250.00000 SH Sole 23250.00000
Companhia Vale do Rio Doce ADR COM 91912e105 260 12400.00000 SH Sole 12400.00000
Consolidated Edison COM 209115104 4670 84075.00000 SH Sole 84075.00000
Cooper Tire & Rubber Co. COM 216831107 634 25000.00000 SH Sole 25000.00000
Corning Inc. COM 219350105 3282 260075.00000 SH Sole 260075.00000
Covidien PLC COM G2554f113 4644 80425.00000 SH Sole 80425.00000
Cummins Inc COM 231021106 4201 38775.00000 SH Sole 38775.00000
CVS Caremark Corp. COM 126650100 7620 157604.00000 SH Sole 157604.00000
Daimler AG ADR COM D1668R123 891 16200.00000 SH Sole 16200.00000
Danaher Corp. COM 235851102 9159 163850.00000 SH Sole 163850.00000
Danone ADR COM 23636t100 487 37000.00000 SH Sole 37000.00000
Darden Restaurants Inc. COM 237194105 5714 126775.00000 SH Sole 126775.00000
Davita Healthcare Partners Inc COM 23918K108 5247 47475.00000 SH Sole 47475.00000
DDR Corp COM 23317h102 270 17221.00000 SH Sole 17221.00000
Deutsche Bank ADR COM D18190898 390 8800.00000 SH Sole 8800.00000
Deutsche Telekom AG ADR COM 251566105 764 67400.00000 SH Sole 67400.00000
Diageo PLC ADR COM 25243q205 1320 11325.00000 SH Sole 11325.00000
Diamond Offshore Drilling COM 25271c102 1391 20475.00000 SH Sole 20475.00000
Diebold Inc COM 253651103 1172 38300.00000 SH Sole 38300.00000
DirectTV COM 25490a309 4608 91875.00000 SH Sole 91875.00000
Dollar General COM 256677105 3109 70525.00000 SH Sole 70525.00000
Donnelley (R.R.) & Sons COM 257867101 242 26900.00000 SH Sole 26900.00000
Dr. Pepper Snapple Group, Inc COM 26138e109 244 5520.00000 SH Sole 5520.00000
Du Pont (E.I.) De Nemours & Co COM 263534109 7807 173571.00000 SH Sole 173571.00000
Duke Energy Corp. COM 26441C204 6337 99329.00001 SH Sole 99329.00001
Duke Realty Corp. COM 264411505 261 18800.00000 SH Sole 18800.00000
Eaton Corp PLC COM g29183103 2025 37375.00000 SH Sole 37375.00000
Edwards Lifesciences Corp COM 28176E108 351 3892.00000 SH Sole 3892.00000
EMC Corp. COM 268648102 7068 279350.00000 SH Sole 279350.00000
Enbridge Energy Partners LP COM 29250r106 2594 92975.00000 SH Sole 92975.00000
Endo Health Solutions Inc COM 29264F205 3005 114550.00000 SH Sole 114550.00000
Energizer Holdings Inc COM 29266R108 5217 65225.00000 SH Sole 65225.00000
ENI SPA ADR COM 26874r108 1181 24025.00000 SH Sole 24025.00000
Enterprise Products Partners L COM 293792107 2088 41700.00000 SH Sole 41700.00000
EOG Resources COM 26875p101 5288 43775.00000 SH Sole 43775.00000
Equity Residential Properties COM 29476l107 912 16100.00000 SH Sole 16100.00000
Ericsson COM 294821608 1042 103200.00000 SH Sole 103200.00000
Ethan Allen Interiors Inc. COM 297602104 255 9900.00000 SH Sole 9900.00000
Express COM 30219e103 1921 127325.00000 SH Sole 127325.00000
Express Scripts Holding Compan COM 30219g108 4182 77450.00000 SH Sole 77450.00000
Exxon Mobil Corp. COM 30231g102 32865 379725.00000 SH Sole 379725.00000
F5 Networks Inc. COM 315616102 3293 33900.00000 SH Sole 33900.00000
Federal Mogul Corp. COM 313549404 275 34237.00000 SH Sole 34237.00000
Fedex Corp. COM 31428x106 2960 32275.00000 SH Sole 32275.00000
Finisar Corp COM 31787a507 2625 161150.00000 SH Sole 161150.00000
FirstEnergy Corp. COM 337932107 2828 67723.00000 SH Sole 67723.00000
Flowserve Corp. COM 34354P105 6041 41150.00000 SH Sole 41150.00000
FMC Technologies Inc COM 30249U101 4065 94900.00000 SH Sole 94900.00000
Fomento Economico Mexicana-SP COM 344419106 680 6750.00000 SH Sole 6750.00000
France Telecom ADR COM 35177q105 403 36500.00000 SH Sole 36500.00000
Freeport-McMoRan Copper & Gold COM 35671d857 5374 157125.00000 SH Sole 157125.00000
Frontier Communications Corp COM 35906a108 597 139428.00000 SH Sole 139428.00000
General Electric Co. COM 369604103 20872 994400.00000 SH Sole 994400.00000
General Growth Properties COM 370023103 364 18331.00000 SH Sole 18331.00000
Genuine Parts Co. COM 372460105 2155 33900.00000 SH Sole 33900.00000
Gilead Science Inc COM 375558103 11469 156150.00000 SH Sole 156150.00000
GlaxoSmithKline plc ADR COM 37733W105 1587 36500.00000 SH Sole 36500.00000
Goldman Sachs Group COM 38141g104 7532 59050.00000 SH Sole 59050.00000
Goodyear Tire & Rubber Company COM 382550101 3130 226675.00000 SH Sole 226675.00000
Google Inc. Cl A COM 38259P508 18021 25475.00000 SH Sole 25475.00000
Grupo Televisa SA ADR COM 40049j206 269 10125.00000 SH Sole 10125.00000
Halliburton Co. COM 406216101 5286 152375.00000 SH Sole 152375.00000
Harman International Industrie COM 413086109 500 11200.00000 SH Sole 11200.00000
HCP Inc COM 40414L109 903 20000.00000 SH Sole 20000.00000
Health Care REIT, Inc. COM 42217k106 1309 21350.00000 SH Sole 21350.00000
Heinz (H.J.) COM 423074103 6420 111300.00000 SH Sole 111300.00000
Hellenic Telecom Organization COM 423325307 138 41000.00000 SH Sole 41000.00000
Hitachi Ltd. ADR COM 433578507 554 9500.00000 SH Sole 9500.00000
Hologic Inc COM 436440101 3595 179650.00000 SH Sole 179650.00000
Home Depot, Inc. COM 437076102 11750 189975.00000 SH Sole 189975.00000
Honda Motor Co Ltd. ADR COM 438128308 1925 52100.00000 SH Sole 52100.00000
Honeywell International, Inc. COM 438516106 7455 117450.00000 SH Sole 117450.00000
Hormel Foods Corp COM 440452100 1248 40000.00000 SH Sole 40000.00000
HSBC Holdings ADR COM 404280406 759 14300.00000 SH Sole 14300.00000
Hunt (J.B.) Transport COM 445658107 1075 18000.00000 SH Sole 18000.00000
Hutchison Whampoa Limited ADR COM 448415208 778 37250.00000 SH Sole 37250.00000
Icon PLC ADR COM 45103t107 205 7400.00000 SH Sole 7400.00000
Infosys Ltd COM 456788108 1645 38900.00000 SH Sole 38900.00000
Ing Groep NV ADR COM 456837103 135 14200.00000 SH Sole 14200.00000
Intel Corp. COM 458140100 12875 624400.00000 SH Sole 624400.00000
International Business Machine COM 459200101 6096 31825.00000 SH Sole 31825.00000
International Game Technology COM 459902102 289 20400.00000 SH Sole 20400.00000
Intesa Sanpaolo ADR COM 46115h107 124 12041.00000 SH Sole 12041.00000
Invesco Ltd COM g491bt108 4932 189050.00000 SH Sole 189050.00000
Itau Unibanco Holding SA ADR COM 465562106 385 23399.00004 SH Sole 23399.00004
Itron, Inc. COM 465741106 1940 43550.00000 SH Sole 43550.00000
Johnson & Johnson COM 478160104 15837 225925.00000 SH Sole 225925.00000
Johnson Controls, Inc. COM 478366107 4456 145300.00000 SH Sole 145300.00000
Jones Group Inc The COM 48020t101 213 19300.00000 SH Sole 19300.00000
Joy Global Inc. COM 481165108 2456 38500.00000 SH Sole 38500.00000
JPMorgan Chase & Co. COM 46625h100 15033 341907.00000 SH Sole 341907.00000
KB Financial Group Inc ADR COM 48241a105 265 7375.00000 SH Sole 7375.00000
Kellogg Co. COM 487836108 2055 36800.00000 SH Sole 36800.00000
Kennametal Inc. COM 489170100 716 17900.00000 SH Sole 17900.00000
Kimco Realty Corp. COM 49446r109 1646 85175.00000 SH Sole 85175.00000
Kinder Morgan Inc. COM 49456b101 4000 113208.00000 SH Sole 113208.00000
Kirin Holdings Co ADR COM 497350306 322 27500.00000 SH Sole 27500.00000
Kohl's Corp. COM 500255104 3913 91050.00000 SH Sole 91050.00000
Koninklijke KPN NV ADR COM 780641205 81 16600.00000 SH Sole 16600.00000
Koninklijke Philips Electronic COM 500472303 249 9400.00000 SH Sole 9400.00000
Kraft Foods Group Inc. COM 50076q106 510 11211.00002 SH Sole 11211.00002
Kubota Corp-Spon ADR COM 501173207 252 4375.00000 SH Sole 4375.00000
Leggett & Platt COM 524660107 504 18500.00000 SH Sole 18500.00000
Lexington Realty Trust COM 529043101 645 61754.93996 SH Sole 61754.93996
Liberty Property Trust COM 531172104 1829 51100.00000 SH Sole 51100.00000
Lilly (Eli) & Co. COM 532457108 8818 178800.00000 SH Sole 178800.00000
Limited Brands Inc. COM 532716107 5271 112000.00000 SH Sole 112000.00000
Linear Technology Corp. COM 535678106 1449 42250.00000 SH Sole 42250.00000
Logitech International SA COM H50430232 302 40020.00000 SH Sole 40020.00000
Lowe's Co. COM 548661107 8564 241100.00000 SH Sole 241100.00000
Luxottica Group SPA ADR COM 55068r202 277 6700.00000 SH Sole 6700.00000
Macerich Co. COM 554382101 916 15719.00000 SH Sole 15719.00000
Mack-Cali Realty Corp. COM 554489104 418 16000.00000 SH Sole 16000.00000
Marsh & McLennan Companies, In COM 571748102 8680 251800.00000 SH Sole 251800.00000
Mattel Inc. COM 577081102 6513 177850.00000 SH Sole 177850.00000
Maxim Integrated Products, Inc COM 57772k101 4577 155675.00000 SH Sole 155675.00000
McCormick & Co. COM 579780206 5595 88075.00000 SH Sole 88075.00000
McDonald's Corp. COM 580135101 7804 88475.00000 SH Sole 88475.00000
Mckesson HBOC Inc. COM 58155q103 1329 13710.00000 SH Sole 13710.00000
Mercadolibre Inc COM 58733r102 454 5775.00000 SH Sole 5775.00000
Merck & Co., Inc. COM 58933y105 10472 255800.00000 SH Sole 255800.00000
Metlife Inc COM 59156R108 5082 154275.00000 SH Sole 154275.00000
Microsoft Corp COM 594918104 23555 881900.00000 SH Sole 881900.00000
Mitsubishi UFJ Financial Group COM 606822104 1483 273550.00000 SH Sole 273550.00000
Mitsui & Co Ltd-Spons ADR COM 606827202 423 1425.00000 SH Sole 1425.00000
Molson Coors Brewing Company COM 60871r209 4061 94900.00000 SH Sole 94900.00000
Mondelez International Inc COM 609207105 856 33636.00000 SH Sole 33636.00000
Monsanto Co. COM 61166w101 4434 46850.00000 SH Sole 46850.00000
Morgan Stanley, Dean Witter, D COM 617446448 4109 214900.00000 SH Sole 214900.00000
Mylan Inc. COM 628530107 5811 211700.00000 SH Sole 211700.00000
National Fuel Gas Co. COM 636180101 456 9000.00000 SH Sole 9000.00000
National Oilwell Varco Inc COM 637071101 5008 73275.00000 SH Sole 73275.00000
New York Community Bancorp COM 649445103 1754 133925.00000 SH Sole 133925.00000
NextEra Energy Inc COM 65339f101 5390 77900.00000 SH Sole 77900.00000
Nippon Telegraph & Telephone C COM 654624105 1322 62850.00000 SH Sole 62850.00000
Nisource Inc. COM 65473P105 4337 174250.00000 SH Sole 174250.00000
Norsk Hydro ASA ADR COM 656531605 100 20000.00000 SH Sole 20000.00000
Northrop Grumman Corp. COM 666807102 3384 50075.00000 SH Sole 50075.00000
Novartis ADR COM 66987v109 2064 32600.00000 SH Sole 32600.00000
Novo Nordisk ADR COM 670100205 2024 12400.00000 SH Sole 12400.00000
Nuance Communications Inc COM 67020y100 4171 186875.00000 SH Sole 186875.00000
Occidental Petroleum COM 674599105 6117 79850.00000 SH Sole 79850.00000
Oracle Corp. COM 68389x105 11216 336600.00000 SH Sole 336600.00000
Panasonic Corp ADR COM 69832a205 418 68800.00000 SH Sole 68800.00000
Park National COM 700658107 207 3200.00000 SH Sole 3200.00000
Parker Hannifin COM 701094104 965 11346.00000 SH Sole 11346.00000
Patterson Companies Inc. COM 703395103 3317 96900.00000 SH Sole 96900.00000
Pepco Holdings, Inc. COM 713291102 302 15384.00000 SH Sole 15384.00000
PepsiCo, Inc. COM 713448108 8701 127150.00000 SH Sole 127150.00000
Petroleo Brasileiro SA ADR COM 71654v408 354 18200.00000 SH Sole 18200.00000
Petsmart Inc. COM 716768106 1128 16500.00000 SH Sole 16500.00000
Pfizer, Inc. COM 717081103 17490 697374.00000 SH Sole 697374.00000
Philip Morris International In COM 718172109 3195 38200.00000 SH Sole 38200.00000
Pinnacle West Capital COM 723484101 658 12900.00000 SH Sole 12900.00000
Pitney Bowes Inc. COM 724479100 213 20000.00000 SH Sole 20000.00000
Plains All American Pipeline L COM 726503105 2280 50400.00000 SH Sole 50400.00000
PNC Financial Services Group COM 693475105 9199 157762.00000 SH Sole 157762.00000
Polaris Industries COM 731068102 1346 16000.00000 SH Sole 16000.00000
Portugal Telecom SGPS SA ADR COM 737273102 54 10800.00000 SH Sole 10800.00000
Potash Corp of Saskatchewan In COM 73755L107 1119 27500.00000 SH Sole 27500.00000
PPG Industries, Inc. COM 693506107 653 4825.00000 SH Sole 4825.00000
PPL Corp. COM 69351t106 2084 72800.00000 SH Sole 72800.00000
Praxair, Inc. COM 74005P104 3979 36350.00000 SH Sole 36350.00000
Principal Financial Group COM 74251V102 5720 200575.00000 SH Sole 200575.00000
Procter & Gamble, Inc. COM 742718109 18880 278100.00000 SH Sole 278100.00000
Prologis Trust COM 74340w103 923 25291.00000 SH Sole 25291.00000
Prudential Financial, Inc. COM 744320102 9547 179025.00000 SH Sole 179025.00000
Public Service Enterprise Grou COM 744573106 1181 38600.00000 SH Sole 38600.00000
Public Storage COM 74460d109 3305 22800.00000 SH Sole 22800.00000
Qualcomm Inc. COM 747525103 12480 201750.00000 SH Sole 201750.00000
Quest Diagnostics Inc COM 74834L100 723 12400.00000 SH Sole 12400.00000
Regal Entertainment Group - A COM 758766109 2087 149625.00000 SH Sole 149625.00000
Regions Financial Corp. COM 7591EP100 123 17220.00000 SH Sole 17220.00000
Repsol SA COM 76026T205 237 11700.00000 SH Sole 11700.00000
Research In Motion COM 760975102 560 47200.00000 SH Sole 47200.00000
Reynolds American Inc. COM 761713106 1375 33200.00000 SH Sole 33200.00000
Rio Tinto Plc ADR COM 767204100 848 14600.00000 SH Sole 14600.00000
Roche Holdings Ltd-Spons ADR COM 771195104 736 14650.00000 SH Sole 14650.00000
Rockwell Collins Inc. COM 774341101 5456 93800.00000 SH Sole 93800.00000
Royal Dutch Shell PLC COM 780259206 986 14300.00000 SH Sole 14300.00000
Ryder Systems, Inc. COM 783549108 494 9900.00000 SH Sole 9900.00000
Sandisk Corp. COM 80004c101 313 7200.00000 SH Sole 7200.00000
Sanofi COM 80105n105 1867 39400.00000 SH Sole 39400.00000
Santos Limited ADR COM 803021708 516 44800.00000 SH Sole 44800.00000
SAP ADR COM 803054204 1632 20300.00000 SH Sole 20300.00000
Sauer Danfoss Inc COM 804137107 3102 58125.00000 SH Sole 58125.00000
Scana Corp COM 80589M102 1031 22596.00000 SH Sole 22596.00000
Schlumberger Ltd. COM 806857108 9172 132350.00000 SH Sole 132350.00000
Sensata Technologies Holding COM N7902X106 402 12375.00000 SH Sole 12375.00000
Shinhan Financial Grp ADR COM 824596100 313 8550.00000 SH Sole 8550.00000
Simon Property Group, Inc. COM 828806109 2099 13277.00000 SH Sole 13277.00000
Singapore Telecom-SP ADR COM 82929R304 909 33630.00000 SH Sole 33630.00000
Smith A.O. Corp COM 831865209 1703 27000.00000 SH Sole 27000.00000
Sony Corp. ADR COM 835699307 314 28000.00000 SH Sole 28000.00000
Southern Co. COM 842587107 5699 133125.00000 SH Sole 133125.00000
Spectra Energy Corp COM 847560109 3272 119500.00000 SH Sole 119500.00000
Staples Inc. COM 855030102 2247 197075.00000 SH Sole 197075.00000
Starwood Hotels & Resorts Inc. COM 85590A401 5598 97600.00000 SH Sole 97600.00000
State Street Corp. COM 857477103 5151 109575.00000 SH Sole 109575.00000
Statoil ASA ADR COM 85771P102 432 17242.00000 SH Sole 17242.00000
Subsea 7 Sa COM 864323100 654 27550.00000 SH Sole 27550.00000
Swisscom AG ADR COM 871013108 327 7600.00000 SH Sole 7600.00000
Symantec Corp. COM 871503108 2278 121063.00000 SH Sole 121063.00000
Syngenta AG ADR COM 87160a100 699 8650.00000 SH Sole 8650.00000
Synopsys Inc. COM 871607107 634 19900.00000 SH Sole 19900.00000
Syntel, Inc. COM 87162H103 385 7175.00000 SH Sole 7175.00000
Taiwan Semiconductor Manufactu COM 874039100 2631 153314.00000 SH Sole 153314.00000
Target Corp. COM 87612e106 9797 165575.00000 SH Sole 165575.00000
Telecom Italia ADR COM 87927y102 191 21140.00000 SH Sole 21140.00000
Telefonica SA ADR COM 879382208 659 48883.00000 SH Sole 48883.00000
Telenor ASA COM 87944W105 544 9000.00000 SH Sole 9000.00000
Tenaris SA-ADR COM 88031M109 222 5300.00000 SH Sole 5300.00000
Tessera Technologies Inc. COM 88164L100 2420 147100.00000 SH Sole 147100.00000
Teva Pharmaceutical Industries COM 881624209 587 15725.00000 SH Sole 15725.00000
Texas Instruments COM 882508104 5965 193100.00000 SH Sole 193100.00000
The Travelers Companies, Inc. COM 89417E109 11545 160751.00000 SH Sole 160751.00000
Thermo Fisher Scientific Inc COM 883556102 4206 65950.00000 SH Sole 65950.00000
Tibco Software COM 88632Q103 479 21800.00000 SH Sole 21800.00000
Timken Co COM 887389104 818 17100.00000 SH Sole 17100.00000
Tokio Marine Holdings Inc ADR COM 889094108 668 24250.00000 SH Sole 24250.00000
Tornier NV COM n87237108 322 19150.00000 SH Sole 19150.00000
Toyota Motor Corp. ADR COM 892331307 3338 35800.00000 SH Sole 35800.00000
Transcanada Pipelines Ltd COM 89353d107 1427 30150.00000 SH Sole 30150.00000
Transocean Ltd COM H8817H100 1663 37238.00000 SH Sole 37238.00000
Tupperware Brands Corp COM 899896104 2090 32600.00000 SH Sole 32600.00000
U.S. Bancorp COM 902973304 8624 270017.00000 SH Sole 270017.00000
UBS AG COM H89231338 446 28350.00000 SH Sole 28350.00000
Unilever PLC ADR COM 904767704 1380 35640.00000 SH Sole 35640.00000
Union Pacific COM 907818108 3451 27450.00000 SH Sole 27450.00000
United Health Group Inc. COM 91324P102 6426 118475.00000 SH Sole 118475.00000
United Parcel Services Cl B COM 911312106 8040 109050.00000 SH Sole 109050.00000
United Technologies COM 913017109 8357 101900.00000 SH Sole 101900.00000
Varian Medical Systems Inc COM 92220P105 4513 64250.00000 SH Sole 64250.00000
Verifone Holdings Inc COM 92342Y109 3701 124700.00000 SH Sole 124700.00000
Verizon Communications Inc. COM 92343v104 12378 286075.00000 SH Sole 286075.00000
Vodafone Group PLC ADR COM 92857w209 1450 57574.00000 SH Sole 57574.00000
Volvo AB ADR COM 928856400 271 19875.00000 SH Sole 19875.00000
Waddell & Reed Financial, Inc. COM 930059100 721 20700.00000 SH Sole 20700.00000
Wal-Mart COM 931142103 11081 162400.00000 SH Sole 162400.00000
Walgreen Co. COM 931422109 4794 129525.00000 SH Sole 129525.00000
Walt Disney Co. COM 254687106 13488 270900.00000 SH Sole 270900.00000
Weingarten Realty Investors COM 948741103 1784 66625.00000 SH Sole 66625.00000
WellPoint, Inc. COM 94973V107 4210 69100.00000 SH Sole 69100.00000
Wells Fargo Co. COM 949746101 12182 356393.00000 SH Sole 356393.00000
Westpac Banking Corp. Ltd ADR COM 961214301 4192 30400.00000 SH Sole 30400.00000
Windstream Corporation COM 97381W104 3607 435663.00000 SH Sole 435663.00000
WPP PLC ADR COM 92933h101 404 5600.00000 SH Sole 5600.00000
Yum! Brands, Inc. COM 988498101 930 14000.00000 SH Sole 14000.00000
Kinder Morgan Inc Del Warrant 49456b119 381 100902.78 SH Sole 100902.78