Lawson Kroeker Investment Management

13F File No.: Name: 13F File No. as of March 31, 2012

Portfolio Holdings for 13F File No.: Name: 13F File No.

13F File No.: Name: 13F File No. holds 85 positions in its portfolio as reported in the March 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Chicago Bridge & Iron Company 5.0 $12M 283k 43.19
SPDR Gold Trust (GLD) 4.6 $11M 68k 162.12
Pfizer (PFE) 4.2 $10M 448k 22.65
Kansas City Southern 4.1 $10M 139k 71.69
Lincoln Electric Holdings (LECO) 3.9 $9.5M 209k 45.35
Anadarko Petroleum Corporation 3.5 $8.6M 110k 78.34
Chevron Corporation (CVX) 3.3 $8.0M 75k 107.21
Texas Pacific Land Trust 3.1 $7.5M 160k 47.14
Forest Laboratories 3.1 $7.5M 216k 34.69
Walt Disney Company (DIS) 3.0 $7.2M 164k 43.78
Boeing Company (BA) 2.8 $6.9M 93k 74.37
Directv 2.6 $6.4M 129k 49.34
Leucadia National 2.6 $6.2M 239k 26.10
Plum Creek Timber 2.6 $6.2M 150k 41.56
Freeport-McMoRan Copper & Gold (FCX) 2.5 $6.2M 162k 38.04
ConocoPhillips (COP) 2.5 $6.1M 81k 76.02
Yamana Gold 2.5 $6.1M 391k 15.62
Cato Corporation (CATO) 2.4 $5.9M 214k 27.64
Peabody Energy Corporation 2.3 $5.6M 195k 28.96
Vulcan Materials Company (VMC) 2.3 $5.5M 130k 42.73
Compass Minerals International (CMP) 2.2 $5.4M 75k 71.74
Microsoft Corporation (MSFT) 2.2 $5.4M 166k 32.25
Laboratory Corp. of America Holdings (LH) 2.2 $5.4M 59k 91.53
ConAgra Foods (CAG) 2.2 $5.3M 204k 26.26
Berkshire Hathaway (BRK.B) 2.0 $4.9M 61k 81.16
Nexen 1.9 $4.6M 251k 18.35
Gen 1.9 $4.5M 638k 7.10
St. Joe Company (JOE) 1.8 $4.3M 225k 19.01
Berkshire Hathaway (BRK.A) 1.7 $4.1M 34.00 121911.76
Cemex SAB de CV (CX) 1.5 $3.7M 483k 7.76
Vodafone 1.4 $3.4M 121k 27.67
Patriot Coal Corp 1.0 $2.3M 373k 6.24
Forest Oil Corporation 0.9 $2.3M 188k 12.12
L-3 Communications Holdings 0.9 $2.2M 31k 70.79
Canadian Natl Ry (CNI) 0.8 $1.9M 24k 79.42
Chesapeake Energy Corporation 0.8 $1.9M 83k 23.17
Dominion Resources (D) 0.7 $1.7M 34k 51.22
Berkshire Hathaway (BRK.A) 0.7 $1.7M 14.00 121928.57
Investors Real Estate Trust 0.7 $1.7M 221k 7.69
Johnson & Johnson (JNJ) 0.6 $1.5M 23k 65.94
Pepsi (PEP) 0.5 $1.2M 18k 66.32
McDonald's Corporation (MCD) 0.5 $1.1M 11k 98.10
Winnebago Industries (WGO) 0.4 $1.0M 106k 9.80
Spdr S&p 500 Etf (SPY) 0.4 $988k 7.0k 140.74
Merck & Co (MRK) 0.4 $887k 23k 38.40
Abbott Laboratories (ABT) 0.4 $872k 14k 61.28
Automatic Data Processing (ADP) 0.3 $859k 16k 55.21
Colgate-Palmolive Company (CL) 0.3 $776k 7.9k 97.79
Becton, Dickinson and (BDX) 0.3 $741k 9.5k 77.67
Procter & Gamble Company (PG) 0.3 $763k 11k 67.22
U.S. Bancorp (USB) 0.3 $730k 23k 31.69
Yum! Brands (YUM) 0.3 $683k 9.6k 71.15
Exxon Mobil Corporation (XOM) 0.3 $643k 7.4k 86.77
Medtronic 0.2 $560k 14k 39.19
At&t (T) 0.2 $528k 17k 31.24
Baxter International (BAX) 0.2 $490k 8.2k 59.76
GlaxoSmithKline 0.2 $486k 11k 44.90
Occidental Petroleum Corporation (OXY) 0.2 $451k 4.7k 95.15
Edison International (EIX) 0.2 $425k 10k 42.50
UnitedHealth (UNH) 0.2 $413k 7.0k 59.00
CVS Caremark Corporation (CVS) 0.1 $365k 8.2k 44.79
Washington Post Company 0.1 $374k 1.0k 374.00
Wal-Mart Stores (WMT) 0.1 $336k 5.5k 61.20
Leggett & Platt (LEG) 0.1 $336k 15k 23.01
Intel Corporation (INTC) 0.1 $351k 13k 28.08
International Business Machines (IBM) 0.1 $339k 1.6k 208.62
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 0.1 $314k 5.0k 62.80
Renaissance Re Holdings Ltd Cmn (RNR) 0.1 $303k 4.0k 75.75
Medco Health Solutions 0.1 $298k 4.2k 70.42
Cisco Systems (CSCO) 0.1 $285k 14k 21.15
Kohl's Corporation (KSS) 0.1 $288k 5.8k 50.09
E.I. du Pont de Nemours & Company 0.1 $280k 5.3k 52.96
Coca-Cola Company (KO) 0.1 $268k 3.6k 74.14
Wells Fargo & Company (WFC) 0.1 $268k 7.8k 34.18
United Technologies Corporation 0.1 $270k 3.3k 83.08
WellPoint 0.1 $269k 3.7k 73.70
Ace Limited Cmn 0.1 $231k 3.2k 73.33
Dun & Bradstreet Corporation 0.1 $254k 3.0k 84.67
McCormick & Company, Incorporated (MKC) 0.1 $231k 4.3k 54.35
Parker-Hannifin Corporation (PH) 0.1 $207k 2.5k 84.49
General Dynamics Corporation (GD) 0.1 $220k 3.0k 73.33
Lowe's Companies (LOW) 0.1 $210k 6.7k 31.34
BP (BP) 0.1 $201k 4.5k 45.02
Union Pacific Corporation (UNP) 0.1 $201k 1.9k 107.49
Lone Pine Res 0.1 $200k 31k 6.51