UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 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: 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 __June 30, 2012
[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: ___________326_________
Form 13F Information Table Value Total: ________ 1138_________
(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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ABB Ltd-Spon ADR COM 000375204 520 31850.00000 SH Sole 31850.00000
Abbott Labs. COM 002824100 10638 165000.00000 SH Sole 165000.00000
Adobe Systems COM 00724f101 6212 191900.00000 SH Sole 191900.00000
Aecom Technology Corp COM 00766T100 1558 94725.00000 SH Sole 94725.00000
Aegon NV ADR COM 007924103 52 11200.00000 SH Sole 11200.00000
Ageas COM 00844w109 43 21600.00000 SH Sole 21600.00000
Akamai Technologies Inc. COM 00971t101 3332 104950.00000 SH Sole 104950.00000
Alcatel-Lucent ADR COM 013904305 32 19900.00000 SH Sole 19900.00000
AllianceBernstein Holding LP COM 01881G106 148 11700.00000 SH Sole 11700.00000
Altria Group, Inc. COM 02209s103 18080 523300.00000 SH Sole 523300.00000
Amdocs Ltd COM G02602103 2420 81425.00000 SH Sole 81425.00000
Amedisys Inc. COM 023436108 779 62585.00000 SH Sole 62585.00000
Ameren Corp. COM 023608102 918 27360.00000 SH Sole 27360.00000
America Movil SA de CV ADR COM 02364w105 751 28800.00000 SH Sole 28800.00000
American Express COM 025816109 7819 134325.00000 SH Sole 134325.00000
American States Water Co COM 029899101 653 16500.00000 SH Sole 16500.00000
Anadarko Petroleum Corp. COM 032511107 6228 94075.00000 SH Sole 94075.00000
Anheuser-Busch COM 03524a108 6838 85850.00000 SH Sole 85850.00000
Apple Inc COM 037833100 36223 62025.00000 SH Sole 62025.00000
Applied Materials Inc. COM 038222105 215 18775.00000 SH Sole 18775.00000
Arch Coal Inc COM 039380100 1480 214750.00000 SH Sole 214750.00000
Arrow Financial Corp COM 042744102 1305 53991.00000 SH Sole 53991.00000
Arthur J. Gallagher & Co. COM 363576109 4748 135400.00000 SH Sole 135400.00000
AstraZeneca Group PLC ADR COM 046353108 590 13175.00000 SH Sole 13175.00000
AT&T Inc. COM 00206R102 15388 431528.00000 SH Sole 431528.00000
Atmos Energy Corp. COM 049560105 1748 49850.00000 SH Sole 49850.00000
Avalonbay Communities, Inc. COM 053484101 2282 16129.00000 SH Sole 16129.00000
AXA SA COM 054536107 350 26300.00000 SH Sole 26300.00000
Baker Hughes COM 057224107 4009 97550.00000 SH Sole 97550.00000
Banco Bilbao Vizcaya Argentari COM 05946K101 755 106836.00006 SH Sole 106836.00006
Banco Santander Central Hispan COM 05964h105 396 60300.00000 SH Sole 60300.00000
Bank of New York Mellon Corp. COM 064058100 5436 247632.00000 SH Sole 247632.00000
Barclays PLC ADR COM 06738e204 366 35500.00000 SH Sole 35500.00000
BASF SE ADR COM 055262505 1003 14450.00000 SH Sole 14450.00000
Baxter International, Inc. COM 071813109 2270 42700.00000 SH Sole 42700.00000
Bed Bath & Beyond Inc. COM 075896100 5911 95650.00000 SH Sole 95650.00000
BG Group Plc ADR COM 055434203 1590 78000.00000 SH Sole 78000.00000
BHP Billiton Ltd. ADR COM 088606108 1363 20875.00000 SH Sole 20875.00000
Blackstone Group LP COM 09253u108 2501 191375.00000 SH Sole 191375.00000
Block H&R COM 093671105 3903 244250.00000 SH Sole 244250.00000
BMC Software COM 055921100 201 4700.00000 SH Sole 4700.00000
Boardwalk Pipeline Partners L. COM 096627104 1456 52700.00000 SH Sole 52700.00000
Boeing Company COM 097023105 9793 131800.00000 SH Sole 131800.00000
Boston Properties Inc COM 101121101 1311 12100.00000 SH Sole 12100.00000
Boston Scientific COM 101137107 85 15000.00000 SH Sole 15000.00000
BP plc ADR COM 055622104 1808 44600.00000 SH Sole 44600.00000
BRE Properties COM 05564E106 3382 67615.00000 SH Sole 67615.00000
British American Tob SP ADR COM 110448107 1248 12225.00000 SH Sole 12225.00000
Broadcom Corp COM 111320107 3788 112200.00000 SH Sole 112200.00000
BT Group PLC ADR COM 05577e101 614 18500.00000 SH Sole 18500.00000
California Water Service Group COM 130788102 502 27200.00000 SH Sole 27200.00000
Cameron International Corp COM 13342B105 3323 77800.00000 SH Sole 77800.00000
Canon Inc. ADR COM 138006309 986 24675.00000 SH Sole 24675.00000
Capital One Financial COM cof 4574 83675.00000 SH Sole 83675.00000
Carefusion Corp. COM 14170T101 2354 91675.00000 SH Sole 91675.00000
Caterpillar Inc. COM 149123101 3902 45950.00000 SH Sole 45950.00000
CBS Corp. COM 124857202 3714 113300.00000 SH Sole 113300.00000
Celgene Corp. COM 151020104 8333 129875.00000 SH Sole 129875.00000
Cemex SAB de CV ADR COM 151290889 107 15960.00000 SH Sole 15960.00000
CenturyLink Inc. COM 156700106 1628 41223.00000 SH Sole 41223.00000
Charles Schwab Corp. COM 808513105 3685 285000.00000 SH Sole 285000.00000
Charter Communications Inc COM 16117m305 326 4596.00000 SH Sole 4596.00000
Chesapeake Energy Corp COM 165167107 2328 125150.00000 SH Sole 125150.00000
Cheung Kong Limited ADR COM 166744201 500 41000.00000 SH Sole 41000.00000
Chevron Corp. COM 166764100 22481 213086.00005 SH Sole 213086.00005
Church & Dwight Co. COM 171340102 7846 141450.00000 SH Sole 141450.00000
Cincinnati Financial COM 172062101 689 18100.00000 SH Sole 18100.00000
Cinemark Holdings Inc. COM 17243v102 3092 135325.00000 SH Sole 135325.00000
Cisco Systems COM 17275R102 9456 550700.00000 SH Sole 550700.00000
CIT Group COM 125581801 1276 35800.00000 SH Sole 35800.00000
Coca-Cola COM 191216100 950 12150.00000 SH Sole 12150.00000
Comerica, Inc. COM 200340107 522 17000.00000 SH Sole 17000.00000
Companhia De Bebidas-Prf ADR COM 20441W203 891 23250.00000 SH Sole 23250.00000
Companhia Vale do Rio Doce ADR COM 91912e105 246 12400.00000 SH Sole 12400.00000
ConocoPhillips COM 20825c104 257 4592.00000 SH Sole 4592.00000
Consolidated Edison COM 209115104 5229 84075.00000 SH Sole 84075.00000
Cooper Tire & Rubber Co. COM 216831107 439 25000.00000 SH Sole 25000.00000
Corning Inc. COM 219350105 3363 260075.00000 SH Sole 260075.00000
Covidien PLC COM G2554f113 4303 80425.00000 SH Sole 80425.00000
Cummins Inc COM 231021106 3758 38775.00000 SH Sole 38775.00000
CVS Caremark Corp. COM 126650100 11103 237604.00000 SH Sole 237604.00000
Daimler AG ADR COM D1668R123 726 16200.00000 SH Sole 16200.00000
Danaher Corp. COM 235851102 10460 200850.00000 SH Sole 200850.00000
Danone ADR COM 23636t100 460 37000.00000 SH Sole 37000.00000
Darden Restaurants Inc. COM 237194105 6419 126775.00000 SH Sole 126775.00000
Davita Inc COM 23918K108 4663 47475.00000 SH Sole 47475.00000
DDR Corp COM 23317h102 252 17221.00000 SH Sole 17221.00000
Deutsche Bank ADR COM D18190898 318 8800.00000 SH Sole 8800.00000
Deutsche Telekom AG ADR COM 251566105 740 67400.00000 SH Sole 67400.00000
Diageo PLC ADR COM 25243q205 1167 11325.00000 SH Sole 11325.00000
Diamond Offshore Drilling COM 25271c102 1211 20475.00000 SH Sole 20475.00000
Diebold Inc COM 253651103 1414 38300.00000 SH Sole 38300.00000
DirectTV COM 25490a101 334 6845.00000 SH Sole 6845.00000
Donnelley (R.R.) & Sons COM 257867101 395 33600.00000 SH Sole 33600.00000
Dr. Pepper Snapple Group, Inc COM 26138e109 242 5520.00000 SH Sole 5520.00000
Du Pont (E.I.) De Nemours & Co COM 263534109 8777 173571.00000 SH Sole 173571.00000
Duke Energy Corp. COM 26441C204 6872 298000.00000 SH Sole 298000.00000
Duke Realty Corp. COM 264411505 275 18800.00000 SH Sole 18800.00000
Eaton Corp. COM 278058102 1481 37375.00000 SH Sole 37375.00000
Edwards Lifesciences Corp COM 28176E108 402 3892.00000 SH Sole 3892.00000
EMC Corp. COM 268648102 7160 279350.00000 SH Sole 279350.00000
Endo Health Solutions Inc COM 29264F205 3549 114550.00000 SH Sole 114550.00000
Energizer Holdings Inc COM 29266R108 4908 65225.00000 SH Sole 65225.00000
ENI SPA ADR COM 26874r108 1022 24025.00000 SH Sole 24025.00000
Enterprise Products Partners L COM 293792107 2137 41700.00000 SH Sole 41700.00000
EOG Resources COM 26875p101 3945 43775.00000 SH Sole 43775.00000
Equity Residential Properties COM 29476l107 1004 16100.00000 SH Sole 16100.00000
Ericsson COM 294821608 942 103200.00000 SH Sole 103200.00000
Express COM 30219e103 2313 127325.00000 SH Sole 127325.00000
Express Scripts Holding Compan COM 30219g108 4324 77450.00000 SH Sole 77450.00000
Exxon Mobil Corp. COM 30231g102 32493 379725.00000 SH Sole 379725.00000
Federal Mogul Corp. COM 313549404 377 34237.00000 SH Sole 34237.00000
Fedex Corp. COM 31428x106 2957 32275.00000 SH Sole 32275.00000
Finisar Corp COM 31787a507 2411 161150.00000 SH Sole 161150.00000
FirstEnergy Corp. COM 337932107 3331 67723.00000 SH Sole 67723.00000
Flowserve Corp. COM 34354P105 4722 41150.00000 SH Sole 41150.00000
FMC Technologies Inc COM 30249U101 3723 94900.00000 SH Sole 94900.00000
Fomento Economico Mexicana-SP COM 344419106 602 6750.00000 SH Sole 6750.00000
Foot Locker Inc. COM 344849104 4856 158800.00000 SH Sole 158800.00000
France Telecom ADR COM 35177q105 479 36500.00000 SH Sole 36500.00000
Freeport-McMoRan Copper & Gold COM 35671d857 5353 157125.00000 SH Sole 157125.00000
Frontier Communications Corp COM 35906a108 534 139428.00000 SH Sole 139428.00000
General Electric Co. COM 369604103 20723 994400.00000 SH Sole 994400.00000
General Growth Properties COM 370023103 332 18330.38790 SH Sole 18330.38790
Genuine Parts Co. COM 372460105 2042 33900.00000 SH Sole 33900.00000
Gilead Science Inc. COM 375558103 8007 156150.00000 SH Sole 156150.00000
GlaxoSmithKline plc ADR COM 37733W105 1663 36500.00000 SH Sole 36500.00000
Goldman Sachs Group COM 38141g104 5661 59050.00000 SH Sole 59050.00000
Goodyear Tire & Rubber Company COM 382550101 2677 226675.00000 SH Sole 226675.00000
Google Inc. Cl A COM 38259P508 14777 25475.00000 SH Sole 25475.00000
Grupo Televisa SA ADR COM 40049j206 217 10125.00000 SH Sole 10125.00000
Halliburton Co. COM 406216101 4326 152375.00000 SH Sole 152375.00000
Harman International Industrie COM 413086109 444 11200.00000 SH Sole 11200.00000
Harris Corp. COM 413875105 6595 157575.00000 SH Sole 157575.00000
HCP Inc COM 40414L109 883 20000.00000 SH Sole 20000.00000
Health Care REIT, Inc. COM 42217k106 1039 17825.00000 SH Sole 17825.00000
Heinz (H.J.) COM 423074103 6052 111300.00000 SH Sole 111300.00000
Hellenic Telecom Organization COM 423325307 52 41000.00000 SH Sole 41000.00000
Hewlett-Packard Co. COM 428236103 3831 190500.00000 SH Sole 190500.00000
Hitachi Ltd. ADR COM 433578507 580 9500.00000 SH Sole 9500.00000
Hologic Inc COM 436440101 3241 179650.00000 SH Sole 179650.00000
Home Depot, Inc. COM 437076102 10199 192475.00000 SH Sole 192475.00000
Honda Motor Co Ltd. ADR COM 438128308 1806 52100.00000 SH Sole 52100.00000
Honeywell International, Inc. COM 438516106 6558 117450.00000 SH Sole 117450.00000
Hormel Foods Corp COM 440452100 1217 40000.00000 SH Sole 40000.00000
Hunt (J.B.) Transport COM 445658107 1073 18000.00000 SH Sole 18000.00000
Hutchison Whampoa Limited ADR COM 448415208 639 37250.00000 SH Sole 37250.00000
Infosys Ltd COM 456788108 1753 38900.00000 SH Sole 38900.00000
Ing Groep NV ADR COM 456837103 95 14200.00000 SH Sole 14200.00000
Intel Corp. COM 458140100 16640 624400.00000 SH Sole 624400.00000
International Business Machine COM 459200101 6224 31825.00000 SH Sole 31825.00000
International Game Technology COM 459902102 321 20400.00000 SH Sole 20400.00000
International Power ADR COM 46018m104 210 3200.00000 SH Sole 3200.00000
Intesa Sanpaolo ADR COM 46115h107 103 12041.00000 SH Sole 12041.00000
Invesco Ltd COM g491bt108 4273 189050.00000 SH Sole 189050.00000
Itau Unibanco Holding SA ADR COM 465562106 326 23399.00004 SH Sole 23399.00004
Itron, Inc. COM 465741106 1796 43550.00000 SH Sole 43550.00000
Johnson & Johnson COM 478160104 15263 225925.00000 SH Sole 225925.00000
Johnson Controls, Inc. COM 478366107 4026 145300.00000 SH Sole 145300.00000
Jones Group Inc The COM 48020t101 185 19300.00000 SH Sole 19300.00000
Joy Global Inc. COM 481165108 2184 38500.00000 SH Sole 38500.00000
JPMorgan Chase & Co. COM 46625h100 12359 345907.00000 SH Sole 345907.00000
KB Financial Group Inc ADR COM 48241a105 241 7375.00000 SH Sole 7375.00000
Kellogg Co. COM 487836108 1815 36800.00000 SH Sole 36800.00000
Kennametal Inc. COM 489170100 593 17900.00000 SH Sole 17900.00000
Kimco Realty Corp. COM 49446r109 1621 85175.00000 SH Sole 85175.00000
Kinder Morgan Inc. COM 49456b101 3678 114150.42500 SH Sole 114150.42500
Kirin Holdings Co ADR COM 497350306 323 27500.00000 SH Sole 27500.00000
Knight Capital Group COM 499005106 241 20200.00000 SH Sole 20200.00000
Kohl's Corp. COM 500255104 4142 91050.00000 SH Sole 91050.00000
Koninklijke KPN NV ADR COM 780641205 159 16600.00000 SH Sole 16600.00000
Kraft Foods Inc. COM 50075N104 1299 33636.00000 SH Sole 33636.00000
Kubota Corp-Spon ADR COM 501173207 202 4375.00000 SH Sole 4375.00000
Leggett & Platt COM 524660107 488 23100.00000 SH Sole 23100.00000
Lexington Realty Trust COM 529043101 523 61754.93996 SH Sole 61754.93996
Liberty Property Trust COM 531172104 1883 51100.00000 SH Sole 51100.00000
Lilly (Eli) & Co. COM 532457108 7672 178800.00000 SH Sole 178800.00000
Limited Brands Inc. COM 532716107 4763 112000.00000 SH Sole 112000.00000
Linear Technology Corp. COM 535678106 1324 42250.00000 SH Sole 42250.00000
Lowe's Co. COM 548661107 6857 241100.00000 SH Sole 241100.00000
Lukoil ADR COM 677862104 349 6275.00000 SH Sole 6275.00000
Luxottica Group SPA ADR COM 55068r202 234 6700.00000 SH Sole 6700.00000
Macerich Co. COM 554382101 928 15719.00000 SH Sole 15719.00000
Mack-Cali Realty Corp. COM 554489104 465 16000.00000 SH Sole 16000.00000
Marsh & McLennan Companies, In COM 571748102 8116 251800.00000 SH Sole 251800.00000
Marvell Technology Group COM g5876h105 1311 116200.00000 SH Sole 116200.00000
Mattel Inc. COM 577081102 5769 177850.00000 SH Sole 177850.00000
Maxim Integrated Products, Inc COM 57772k101 3992 155675.00000 SH Sole 155675.00000
McCormick & Co. COM 579780206 5342 88075.00000 SH Sole 88075.00000
McDonald's Corp. COM 580135101 7833 88475.00000 SH Sole 88475.00000
McGraw-Hill Corp. COM 580645109 900 20000.00000 SH Sole 20000.00000
Mckesson HBOC Inc. COM 58155q103 1285 13710.00000 SH Sole 13710.00000
Mercadolibre Inc COM 58733r102 438 5775.00000 SH Sole 5775.00000
Merck & Co., Inc. COM 58933y105 10680 255800.00000 SH Sole 255800.00000
Metlife Inc COM 59156R108 4759 154275.00000 SH Sole 154275.00000
Microsoft Corp COM 594918104 26977 881900.00000 SH Sole 881900.00000
Mitsubishi UFJ Financial Group COM 606822104 1299 273550.00000 SH Sole 273550.00000
Mitsui & Co Ltd-Spons ADR COM 606827202 419 1425.00000 SH Sole 1425.00000
Molson Coors Brewing Company COM 60871r209 3949 94900.00000 SH Sole 94900.00000
Monsanto Co. COM 61166w101 3878 46850.00000 SH Sole 46850.00000
Morgan Stanley, Dean Witter, D COM 617446448 3135 214900.00000 SH Sole 214900.00000
Mylan Inc. COM 628530107 4524 211700.00000 SH Sole 211700.00000
National Fuel Gas Co. COM 636180101 423 9000.00000 SH Sole 9000.00000
National Oilwell Varco Inc COM 637071101 4722 73275.00000 SH Sole 73275.00000
New York Community Bancorp COM 649445103 1678 133925.00000 SH Sole 133925.00000
NextEra Energy Inc COM 65339f101 5360 77900.00000 SH Sole 77900.00000
Nippon Telegraph & Telephone C COM 654624105 1454 62850.00000 SH Sole 62850.00000
Nisource Inc. COM 65473P105 4313 174250.00000 SH Sole 174250.00000
Norsk Hydro ASA ADR COM 656531605 90 20000.00000 SH Sole 20000.00000
Northrop Grumman Corp. COM 666807102 3194 50075.00000 SH Sole 50075.00000
Novartis ADR COM 66987v109 1822 32600.00000 SH Sole 32600.00000
Novo Nordisk ADR COM 670100205 1802 12400.00000 SH Sole 12400.00000
Occidental Petroleum COM 674599105 6849 79850.00000 SH Sole 79850.00000
Oracle Corp. COM 68389x105 9997 336600.00000 SH Sole 336600.00000
Panasonic Corp ADR COM 69832a205 557 68800.00000 SH Sole 68800.00000
Park National COM 700658107 223 3200.00000 SH Sole 3200.00000
Parker Hannifin COM 701094104 872 11346.00000 SH Sole 11346.00000
Patterson Companies Inc. COM 703395103 3340 96900.00000 SH Sole 96900.00000
Pepco Holdings, Inc. COM 713291102 301 15384.00000 SH Sole 15384.00000
PepsiCo, Inc. COM 713448108 13630 192900.00000 SH Sole 192900.00000
Petroleo Brasileiro SA ADR COM 71654v408 342 18200.00000 SH Sole 18200.00000
Petsmart Inc. COM 716768106 1125 16500.00000 SH Sole 16500.00000
Pfizer, Inc. COM 717081103 16040 697374.00000 SH Sole 697374.00000
Philip Morris International In COM 718172109 3333 38200.00000 SH Sole 38200.00000
Pinnacle West Capital COM 723484101 667 12900.00000 SH Sole 12900.00000
Pitney Bowes Inc. COM 724479100 374 25000.00000 SH Sole 25000.00000
Plains All American Pipeline L COM 726503105 2036 25200.00000 SH Sole 25200.00000
PNC Financial Services Group COM 693475105 9641 157762.00000 SH Sole 157762.00000
Polaris Industries COM 731068102 1144 16000.00000 SH Sole 16000.00000
Portugal Telecom SGPS SA ADR COM 737273102 48 10800.00000 SH Sole 10800.00000
Potash Corp of Saskatchewan In COM 73755L107 1201 27500.00000 SH Sole 27500.00000
PPG Industries, Inc. COM 693506107 512 4825.00000 SH Sole 4825.00000
PPL Corp. COM 69351t106 2025 72800.00000 SH Sole 72800.00000
Praxair, Inc. COM 74005P104 3952 36350.00000 SH Sole 36350.00000
Principal Financial Group COM 74251V102 5261 200575.00000 SH Sole 200575.00000
Procter & Gamble, Inc. COM 742718109 17034 278100.00000 SH Sole 278100.00000
Prologis Trust COM 74340w103 840 25291.00000 SH Sole 25291.00000
Prudential Financial, Inc. COM 744320102 8670 179025.00000 SH Sole 179025.00000
Public Service Enterprise Grou COM 744573106 1255 38600.00000 SH Sole 38600.00000
Public Storage COM 74460d109 3293 22800.00000 SH Sole 22800.00000
Qualcomm Inc. COM 747525103 11233 201750.00000 SH Sole 201750.00000
Quest Diagnostics Inc COM 74834L100 743 12400.00000 SH Sole 12400.00000
Regal Entertainment Group - A COM 758766109 2059 149625.00000 SH Sole 149625.00000
Regions Financial Corp. COM 7591EP100 116 17220.00000 SH Sole 17220.00000
Repsol SA COM 76026T205 188 11700.00000 SH Sole 11700.00000
Research In Motion Limited COM 760975102 349 47200.00000 SH Sole 47200.00000
Reynolds American Inc. COM 761713106 2190 48800.00000 SH Sole 48800.00000
Rio Tinto Plc ADR COM 767204100 698 14600.00000 SH Sole 14600.00000
Roche Holdings Ltd-Spons ADR COM 771195104 633 14650.00000 SH Sole 14650.00000
Rockwell Collins Inc. COM 774341101 4629 93800.00000 SH Sole 93800.00000
Royal Dutch Shell PLC COM 780259206 964 14300.00000 SH Sole 14300.00000
Ryder Systems, Inc. COM 783549108 356 9900.00000 SH Sole 9900.00000
Sandisk Corp. COM 80004c101 263 7200.00000 SH Sole 7200.00000
Sanofi COM 80105n105 1489 39400.00000 SH Sole 39400.00000
Santos Limited ADR COM 803021708 489 44800.00000 SH Sole 44800.00000
SAP ADR COM 803054204 1205 20300.00000 SH Sole 20300.00000
Sasol Ltd ADR COM 803866300 446 10500.00000 SH Sole 10500.00000
Sauer Danfoss Inc COM 804137107 2030 58125.00000 SH Sole 58125.00000
Scana Corp COM 80589M102 1081 22596.00000 SH Sole 22596.00000
Schlumberger Ltd. COM 806857108 8591 132350.00000 SH Sole 132350.00000
Shinhan Financial Grp ADR COM 824596100 303 4275.00000 SH Sole 4275.00000
Siemens AG ADR COM 826197501 1194 14200.00000 SH Sole 14200.00000
Simon Property Group, Inc. COM 828806109 2067 13277.00000 SH Sole 13277.00000
Singapore Telecom-SP ADR COM 82929R304 876 33630.00000 SH Sole 33630.00000
SLM Corp COM 78442p106 542 34500.00000 SH Sole 34500.00000
Smith A.O. Corp COM 831865209 1320 27000.00000 SH Sole 27000.00000
Sony Corp. ADR COM 835699307 399 28000.00000 SH Sole 28000.00000
Southern Co. COM 842587107 6164 133125.00000 SH Sole 133125.00000
Spectra Energy Corp COM 847560109 3473 119500.00000 SH Sole 119500.00000
Staples Inc. COM 855030102 2572 197075.00000 SH Sole 197075.00000
Starwood Hotels & Resorts Inc. COM 85590A401 5177 97600.00000 SH Sole 97600.00000
State Street Corp. COM 857477103 4891 109575.00000 SH Sole 109575.00000
Statoil ASA ADR COM 85771P102 411 17242.00000 SH Sole 17242.00000
Subsea 7 Sa COM 864323100 543 27550.00000 SH Sole 27550.00000
Swisscom AG ADR COM 871013108 306 7600.00000 SH Sole 7600.00000
Symantec Corp. COM 871503108 1769 121063.00000 SH Sole 121063.00000
Syngenta AG ADR COM 87160a100 592 8650.00000 SH Sole 8650.00000
Synopsys Inc. COM 871607107 586 19900.00000 SH Sole 19900.00000
Syntel, Inc. COM 87162H103 436 7175.00000 SH Sole 7175.00000
Taiwan Semiconductor Manufactu COM 874039100 2140 153314.00000 SH Sole 153314.00000
Target Corp. COM 87612e106 12085 207675.00000 SH Sole 207675.00000
TE Connectivity Ltd COM h84989104 2507 78550.00000 SH Sole 78550.00000
Teco Energy Inc. COM 872375100 3308 183175.00000 SH Sole 183175.00000
Telecom Italia ADR COM 87927y102 208 21140.00000 SH Sole 21140.00000
Telefonica SA ADR COM 879382208 640 48883.00000 SH Sole 48883.00000
Telenor ASA COM 87944W105 449 9000.00000 SH Sole 9000.00000
Tessera Technologies Inc. COM 88164L100 2261 147100.00000 SH Sole 147100.00000
Teva Pharmaceutical Industries COM 881624209 620 15725.00000 SH Sole 15725.00000
Texas Instruments COM 882508104 5540 193100.00000 SH Sole 193100.00000
The Travelers Companies, Inc. COM 89417E109 10262 160751.00000 SH Sole 160751.00000
Thermo Fisher Scientific Inc COM 883556102 3423 65950.00000 SH Sole 65950.00000
Tibco Software COM 88632Q103 652 21800.00000 SH Sole 21800.00000
Timken Co COM 887389104 783 17100.00000 SH Sole 17100.00000
Tokio Marine Holdings Inc ADR COM 889094108 604 24250.00000 SH Sole 24250.00000
Total SA ADR COM 89151e109 1546 34400.00000 SH Sole 34400.00000
Toyota Motor Corp. ADR COM 892331307 2881 35800.00000 SH Sole 35800.00000
Transcanada Pipelines Ltd COM 89353d107 1263 30150.00000 SH Sole 30150.00000
Transocean Ltd COM H8817H100 1666 37238.00000 SH Sole 37238.00000
Tupperware Brands Corp COM 899896104 1785 32600.00000 SH Sole 32600.00000
Tyco International Ltd. COM h89128104 1348 25500.00000 SH Sole 25500.00000
Tyson Foods Inc. COM 902494103 529 28095.00000 SH Sole 28095.00000
U.S. Bancorp COM 902973304 8684 270017.00000 SH Sole 270017.00000
UBS AG COM H89231338 332 28350.00000 SH Sole 28350.00000
Unilever PLC ADR COM 904767704 1202 35640.00000 SH Sole 35640.00000
Union Pacific COM 907818108 3275 27450.00000 SH Sole 27450.00000
United Health Group Inc. COM 91324P102 6931 118475.00000 SH Sole 118475.00000
United Parcel Services Cl B COM 911312106 8589 109050.00000 SH Sole 109050.00000
United Technologies COM 913017109 7697 101900.00000 SH Sole 101900.00000
Varian Medical Systems Inc COM 92220P105 3904 64250.00000 SH Sole 64250.00000
Verizon Communications Inc. COM 92343v104 13907 312950.00000 SH Sole 312950.00000
Vodafone Group PLC ADR COM 92857w209 1622 57574.00000 SH Sole 57574.00000
Volvo AB ADR COM 928856400 227 19875.00000 SH Sole 19875.00000
Waddell & Reed Financial, Inc. COM 930059100 627 20700.00000 SH Sole 20700.00000
Wal-Mart COM 931142103 16663 239000.00000 SH Sole 239000.00000
Walgreen Co. COM 931422109 3831 129525.00000 SH Sole 129525.00000
Walt Disney Co. COM 254687106 13236 272900.00000 SH Sole 272900.00000
Weingarten Realty Investors COM 948741103 1755 66625.00000 SH Sole 66625.00000
WellPoint, Inc. COM 94973V107 4408 69100.00000 SH Sole 69100.00000
Wells Fargo Co. COM 949746101 11918 356393.00000 SH Sole 356393.00000
Westpac Banking Corp. Ltd ADR COM 961214301 3308 30400.00000 SH Sole 30400.00000
Whirlpool Corp. COM 963320106 4582 74925.00000 SH Sole 74925.00000
Williams Partners LP COM 96950F104 5010 95900.00000 SH Sole 95900.00000
Windstream Corporation COM 97381W104 4209 435663.00000 SH Sole 435663.00000
WPP PLC ADR COM 92933h101 341 5600.00000 SH Sole 5600.00000
Yum! Brands, Inc. COM 988498101 902 14000.00000 SH Sole 14000.00000
Kinder Morgan Inc Del Warrant 49456b119 377 174488.90 SH Sole 174488.90