Lawson Kroeker Investment Management

13F File No.: Name: 13F File No. as of Dec. 31, 2011

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

13F File No.: Name: 13F File No. holds 81 positions in its portfolio as reported in the December 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Chicago Bridge & Iron Company 4.8 $11M 285k 37.80
SPDR Gold Trust (GLD) 4.6 $10M 69k 151.99
Kansas City Southern 4.4 $10M 147k 68.01
Pfizer (PFE) 4.3 $9.7M 448k 21.64
Lincoln Electric Holdings (LECO) 4.3 $9.6M 246k 39.12
Anadarko Petroleum Corporation 3.8 $8.6M 112k 76.33
Chevron Corporation (CVX) 3.6 $8.0M 76k 106.39
Boeing Company (BA) 3.0 $6.8M 93k 73.35
Forest Laboratories 2.9 $6.6M 217k 30.26
Peabody Energy Corporation 2.9 $6.6M 198k 33.11
Texas Pacific Land Trust 2.9 $6.5M 160k 40.69
Walt Disney Company (DIS) 2.7 $6.2M 164k 37.50
ConocoPhillips (COP) 2.6 $5.9M 81k 72.87
Freeport-McMoRan Copper & Gold (FCX) 2.6 $5.9M 160k 36.79
Yamana Gold 2.5 $5.6M 381k 14.69
Directv 2.5 $5.5M 130k 42.76
Plum Creek Timber 2.4 $5.5M 150k 36.56
Leucadia National 2.4 $5.4M 239k 22.74
ConAgra Foods (CAG) 2.3 $5.3M 200k 26.40
Compass Minerals International (CMP) 2.3 $5.2M 75k 68.85
Cato Corporation (CATO) 2.3 $5.2M 214k 24.20
Laboratory Corp. of America Holdings (LH) 2.2 $5.0M 59k 85.96
Vulcan Materials Company (VMC) 2.2 $5.0M 127k 39.35
Berkshire Hathaway (BRK.B) 2.1 $4.7M 62k 76.29
Microsoft Corporation (MSFT) 1.9 $4.3M 166k 25.96
Nexen 1.7 $3.9M 247k 15.91
Berkshire Hathaway (BRK.A) 1.7 $3.9M 34.00 114764.71
Gen 1.5 $3.4M 643k 5.32
St. Joe Company (JOE) 1.5 $3.3M 226k 14.66
Patriot Coal Corp 1.4 $3.1M 372k 8.47
Vodafone 1.4 $3.1M 111k 28.03
Forest Oil Corporation 1.2 $2.6M 193k 13.55
Cemex SAB de CV (CX) 1.1 $2.4M 444k 5.39
L-3 Communications Holdings 0.9 $2.0M 31k 66.67
Canadian Natl Ry (CNI) 0.8 $1.9M 24k 78.54
Chesapeake Energy Corporation 0.8 $1.9M 83k 22.29
Investors Real Estate Trust 0.7 $1.7M 227k 7.30
Berkshire Hathaway (BRK.A) 0.7 $1.6M 14.00 114785.71
Dominion Resources (D) 0.7 $1.6M 30k 53.07
Johnson & Johnson (JNJ) 0.6 $1.4M 22k 65.58
Pepsi (PEP) 0.5 $1.0M 16k 66.33
McDonald's Corporation (MCD) 0.4 $997k 9.9k 100.35
Spdr S&p 500 Etf (SPY) 0.4 $912k 7.3k 125.45
Winnebago Industries (WGO) 0.4 $885k 120k 7.38
Merck & Co (MRK) 0.4 $871k 23k 37.71
Automatic Data Processing (ADP) 0.4 $840k 16k 53.98
Abbott Laboratories (ABT) 0.3 $800k 14k 56.22
Colgate-Palmolive Company (CL) 0.3 $733k 7.9k 92.38
Becton, Dickinson and (BDX) 0.3 $713k 9.5k 74.74
Lone Pine Res 0.3 $698k 100k 7.01
Procter & Gamble Company (PG) 0.3 $650k 9.8k 66.67
U.S. Bancorp (USB) 0.3 $623k 23k 27.05
Exxon Mobil Corporation (XOM) 0.3 $628k 7.4k 84.75
Yum! Brands (YUM) 0.2 $566k 9.6k 58.96
Medtronic 0.2 $547k 14k 38.28
At&t (T) 0.2 $511k 17k 30.24
GlaxoSmithKline 0.2 $494k 11k 45.64
Occidental Petroleum Corporation (OXY) 0.2 $444k 4.7k 93.67
Baxter International (BAX) 0.2 $406k 8.2k 49.51
Edison International (EIX) 0.2 $414k 10k 41.40
Washington Post Company 0.2 $377k 1.0k 377.00
UnitedHealth (UNH) 0.2 $355k 7.0k 50.71
Wal-Mart Stores (WMT) 0.1 $328k 5.5k 59.74
Leggett & Platt (LEG) 0.1 $336k 15k 23.01
CVS Caremark Corporation (CVS) 0.1 $332k 8.2k 40.74
Renaissance Re Holdings Ltd Cmn (RNR) 0.1 $297k 4.0k 74.25
Kohl's Corporation (KSS) 0.1 $284k 5.8k 49.39
Wells Fargo & Company (WFC) 0.1 $299k 11k 27.58
Intel Corporation (INTC) 0.1 $303k 13k 24.24
International Business Machines (IBM) 0.1 $299k 1.6k 184.00
Medco Health Solutions 0.1 $237k 4.2k 56.00
Cisco Systems (CSCO) 0.1 $244k 14k 18.11
E.I. du Pont de Nemours & Company 0.1 $242k 5.3k 45.77
United Technologies Corporation 0.1 $238k 3.3k 73.23
WellPoint 0.1 $242k 3.7k 66.30
Western Union Company (WU) 0.1 $219k 12k 18.25
Ace Limited Cmn 0.1 $221k 3.2k 70.16
Dun & Bradstreet Corporation 0.1 $224k 3.0k 74.67
T. Rowe Price (TROW) 0.1 $202k 3.6k 56.90
McCormick & Company, Incorporated (MKC) 0.1 $214k 4.3k 50.35
Enerplus Corp (ERF) 0.1 $205k 8.1k 25.29