Independent Investors

Independent Investors as of March 31, 2011

Portfolio Holdings for Independent Investors

Independent Investors holds 98 positions in its portfolio as reported in the March 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Apple (AAPL) 12.6 $22B 62k 348502.61
Exxon Mobil Corporation (XOM) 4.6 $8.0B 95k 84119.66
Procter & Gamble Company (PG) 4.0 $6.8B 111k 61597.54
Johnson & Johnson (JNJ) 3.9 $6.7B 113k 59242.42
Waters Corporation (WAT) 3.5 $6.1B 70k 86899.00
Schlumberger (SLB) 2.8 $4.8B 51k 93243.40
International Business Machines (IBM) 2.5 $4.3B 26k 163041.40
United Parcel Service (UPS) 2.4 $4.2B 57k 74313.38
Emerson Electric (EMR) 2.4 $4.1B 70k 58424.07
JPMorgan Chase & Co. (JPM) 2.4 $4.1B 88k 46091.80
Coca-Cola Company (KO) 1.9 $3.4B 51k 66326.13
General Electric Company 1.9 $3.3B 164k 20044.23
Abbott Laboratories (ABT) 1.8 $3.1B 64k 49048.36
Honeywell International (HON) 1.8 $3.2B 53k 59696.97
3M Company (MMM) 1.7 $3.0B 32k 93476.23
Qualcomm (QCOM) 1.7 $3.0B 55k 54825.69
Baxter International (BAX) 1.6 $2.7B 50k 53769.84
Oracle Corporation (ORCL) 1.6 $2.7B 81k 33423.98
Boeing Company (BA) 1.4 $2.5B 34k 73907.28
McDonald's Corporation (MCD) 1.4 $2.4B 32k 76080.87
Walt Disney Company (DIS) 1.2 $2.1B 50k 43086.23
Jacobs Engineering 1.2 $2.1B 42k 51419.63
Pepsi (PEP) 1.2 $2.1B 33k 64381.25
Valspar Corporation 1.1 $2.0B 50k 39083.67
Microsoft Corporation (MSFT) 1.1 $1.9B 77k 25388.13
Stryker Corporation (SYK) 1.1 $2.0B 32k 60784.31
Colgate-Palmolive Company (CL) 1.1 $1.9B 24k 80757.89
Devon Energy Corporation (DVN) 1.1 $1.9B 21k 91730.77
Pall Corporation 1.1 $1.9B 33k 57606.06
Watts Water Technologies (WTS) 1.1 $1.9B 50k 38181.82
Dover Corporation (DOV) 1.1 $1.8B 28k 65714.29
Precision Castparts 1.1 $1.8B 13k 147120.00
Goldman Sachs (GS) 1.0 $1.8B 11k 158552.04
Berkshire Hathaway Inc. Class B 1.0 $1.8B 21k 83587.79
Norfolk Southern (NSC) 0.9 $1.6B 23k 69267.24
Halliburton Company (HAL) 0.9 $1.6B 32k 49813.66
Cisco Systems (CSCO) 0.9 $1.6B 92k 17147.50
Home Depot (HD) 0.9 $1.6B 42k 37037.91
Amgen (AMGN) 0.9 $1.5B 29k 53438.60
Novartis (NVS) 0.9 $1.5B 28k 54321.88
Baker Hughes Incorporated 0.8 $1.5B 20k 73400.00
Nike (NKE) 0.8 $1.4B 19k 75675.68
E.I. du Pont de Nemours & Company 0.8 $1.4B 25k 54949.92
Extreme Networks (EXTR) 0.7 $1.2B 37k 31693.55
Fidelity National Information Services (FIS) 0.6 $1.1B 33k 32666.67
Peabody Energy Corporation 0.6 $1.1B 15k 71933.33
Intel Corporation (INTC) 0.6 $1.1B 53k 20168.54
Fluor Corporation (FLR) 0.6 $1.1B 15k 73655.17
BP (BP) 0.6 $1.0B 24k 44135.02
Philip Morris International (PM) 0.5 $925M 14k 65602.84
Martin Marietta Materials (MLM) 0.5 $914M 10k 89607.84
Yum! Brands (YUM) 0.5 $924M 18k 51333.33
Bristol Myers Squibb (BMY) 0.5 $874M 33k 26404.83
Tetra Tech (TTEK) 0.5 $888M 36k 24666.67
ITT Corporation 0.5 $876M 15k 60000.00
Kimberly-Clark Corporation (KMB) 0.5 $848M 13k 65230.77
Broadcom Corporation 0.5 $823M 21k 39377.99
American Express Company (AXP) 0.5 $786M 17k 45172.41
Corning Incorporated (GLW) 0.5 $779M 38k 20608.47
Pfizer (PFE) 0.5 $773M 38k 20288.71
Google 0.4 $748M 1.3k 586666.67
Research In Motion 0.4 $751M 13k 56466.17
Chevron Corporation (CVX) 0.4 $714M 6.7k 107368.42
Ingersoll-rand Co Ltd-cl A cl a 0.4 $700M 15k 48275.86
Thomas & Betts Corporation 0.4 $713M 12k 59416.67
Bank of New York Mellon Corporation (BK) 0.4 $678M 23k 29840.24
L-3 Communications Holdings 0.4 $657M 8.4k 78214.29
Aqua America 0.4 $662M 29k 22881.24
Air Products & Chemicals (APD) 0.3 $603M 6.7k 90080.67
ConocoPhillips (COP) 0.3 $598M 7.5k 79733.33
Kraft Foods 0.3 $583M 19k 31344.09
FedEx Corporation (FDX) 0.3 $561M 6.0k 93500.00
Vanguard Emerging Markets ETF (VWO) 0.3 $558M 11k 48947.37
Bank of America Corporation (BAC) 0.3 $530M 40k 13306.89
Eli Lilly & Co. (LLY) 0.3 $527M 15k 35133.33
Morgan Stanley (MS) 0.3 $529M 19k 27303.23
Cytec Industries 0.3 $462M 8.5k 54352.94
Agilent Technologies Inc C ommon (A) 0.2 $425M 9.5k 44736.84
BHP Billiton (BHP) 0.2 $421M 4.4k 95681.82
Anadarko Pete Corp 0.2 $417M 5.1k 81764.71
Altria (MO) 0.2 $359M 14k 26014.49
iShares MSCI Emerging Markets Indx (EEM) 0.2 $340M 7.0k 48571.43
Sara Lee 0.2 $353M 20k 17650.00
Monsanto Company 0.2 $325M 4.5k 72222.22
Caterpillar (CAT) 0.2 $300M 2.7k 111111.11
Avon Products 0.2 $275M 10k 26960.78
Union Pacific Corporation (UNP) 0.2 $275M 2.8k 98214.29
Tenaris (TS) 0.1 $247M 5.0k 49400.00
Apache Corporation 0.1 $248M 1.9k 130526.32
Freeport-McMoRan Copper & Gold (FCX) 0.1 $222M 4.0k 55500.00
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 0.1 $224M 3.9k 57435.90
Zimmer Holdings (ZBH) 0.1 $230M 3.8k 60526.32
Diebold Incorporated 0.1 $212M 6.0k 35333.33
Time Warner 0.1 $208M 5.9k 35555.56
E M C Corp Mass 0.1 $212M 8.0k 26500.00
Audiovox Corporation 0.1 $120M 15k 8000.00
Citi 0.1 $93M 21k 4407.37
Tetragon Fincl Group Ord (TGONF) 0.1 $91M 12k 7583.33