Independent Investors

Independent Investors as of June 30, 2011

Portfolio Holdings for Independent Investors

Independent Investors holds 96 positions in its portfolio as reported in the June 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Apple (AAPL) 12.6 $22B 64k 335660.42
Exxon Mobil Corporation (XOM) 4.5 $7.7B 94k 81372.90
Johnson & Johnson (JNJ) 4.3 $7.5B 112k 66516.83
Procter & Gamble Company (PG) 4.1 $7.0B 110k 63568.64
Waters Corporation (WAT) 3.9 $6.7B 70k 95732.57
International Business Machines (IBM) 2.7 $4.7B 27k 171521.99
Schlumberger (SLB) 2.6 $4.4B 51k 86381.84
United Parcel Service (UPS) 2.4 $4.1B 57k 72915.19
Emerson Electric (EMR) 2.3 $3.9B 70k 56246.42
JPMorgan Chase & Co. (JPM) 2.1 $3.6B 87k 40933.12
Coca-Cola Company (KO) 2.0 $3.4B 50k 67271.07
Abbott Laboratories (ABT) 2.0 $3.4B 64k 52605.30
3M Company (MMM) 1.9 $3.2B 34k 94836.23
Honeywell International (HON) 1.8 $3.1B 52k 59579.35
Qualcomm (QCOM) 1.8 $3.1B 55k 56788.99
General Electric Company 1.8 $3.1B 163k 18857.24
Baxter International (BAX) 1.8 $3.0B 50k 59682.54
McDonald's Corporation (MCD) 1.6 $2.7B 32k 84292.38
Oracle Corporation (ORCL) 1.6 $2.7B 81k 32904.82
Boeing Company (BA) 1.5 $2.5B 34k 73918.82
Pepsi (PEP) 1.3 $2.3B 33k 70407.38
Colgate-Palmolive Company (CL) 1.2 $2.1B 24k 87399.58
Precision Castparts 1.2 $2.1B 13k 164640.00
Microsoft Corporation (MSFT) 1.1 $2.0B 75k 25993.36
Walt Disney Company (DIS) 1.1 $1.9B 50k 39031.77
Stryker Corporation (SYK) 1.1 $1.9B 32k 58667.91
Dover Corporation (DOV) 1.1 $1.9B 28k 67769.78
Pall Corporation 1.1 $1.9B 33k 56212.12
Valspar Corporation 1.1 $1.8B 50k 36060.00
Jacobs Engineering 1.0 $1.8B 42k 43238.69
Watts Water Technologies (WTS) 1.0 $1.8B 50k 35393.94
Norfolk Southern (NSC) 1.0 $1.7B 23k 74913.79
Amgen (AMGN) 1.0 $1.7B 29k 58315.79
Nike (NKE) 1.0 $1.7B 19k 89945.95
Berkshire Hathaway Inc. Class B 1.0 $1.7B 21k 77387.64
Devon Energy Corporation (DVN) 0.9 $1.6B 21k 78798.08
Halliburton Company (HAL) 0.9 $1.6B 32k 50993.79
E.I. du Pont de Nemours & Company 0.9 $1.5B 29k 54028.50
Novartis (NVS) 0.9 $1.5B 25k 61106.72
Home Depot (HD) 0.9 $1.5B 42k 36199.52
Goldman Sachs (GS) 0.9 $1.5B 11k 133008.85
Baker Hughes Incorporated 0.8 $1.5B 20k 72550.00
Bristol Myers Squibb (BMY) 0.8 $1.4B 48k 28939.71
Cisco Systems (CSCO) 0.8 $1.3B 83k 15604.20
Intel Corporation (INTC) 0.7 $1.2B 53k 22155.01
BP (BP) 0.6 $1.0B 24k 44261.60
Extreme Networks (EXTR) 0.6 $1.0B 37k 28037.63
Yum! Brands (YUM) 0.6 $994M 18k 55222.22
Fidelity National Information Services (FIS) 0.6 $954M 31k 30774.19
Philip Morris International (PM) 0.6 $941M 14k 66737.59
Fluor Corporation (FLR) 0.5 $924M 14k 64615.38
American Express Company (AXP) 0.5 $894M 17k 51676.30
Peabody Energy Corporation 0.5 $883M 15k 58866.67
Kimberly-Clark Corporation (KMB) 0.5 $865M 13k 66538.46
ITT Corporation 0.5 $860M 15k 58904.11
Tetra Tech (TTEK) 0.5 $810M 36k 22500.00
Pfizer (PFE) 0.4 $739M 36k 20584.96
L-3 Communications Holdings 0.4 $734M 8.4k 87380.95
Martin Marietta Materials (MLM) 0.4 $695M 8.7k 79885.06
Chevron Corporation (CVX) 0.4 $683M 6.7k 102706.77
Corning Incorporated (GLW) 0.4 $667M 37k 18125.00
Broadcom Corporation 0.4 $676M 20k 33631.84
Thomas & Betts Corporation 0.4 $646M 12k 53833.33
Kraft Foods 0.4 $644M 18k 35191.26
Air Products & Chemicals (APD) 0.4 $639M 6.7k 95458.62
Aqua America 0.4 $635M 29k 21948.02
Bank of New York Mellon Corporation (BK) 0.3 $582M 23k 25615.07
Google 0.3 $577M 1.1k 506140.35
FedEx Corporation (FDX) 0.3 $569M 6.0k 94833.33
Eli Lilly & Co. (LLY) 0.3 $562M 15k 37466.67
ConocoPhillips (COP) 0.3 $563M 7.5k 75066.67
Ingersoll-rand Co Ltd-cl A cl a 0.3 $544M 12k 45333.33
Vanguard Emerging Markets ETF (VWO) 0.3 $554M 11k 48596.49
Agilent Technologies Inc C ommon (A) 0.3 $485M 9.5k 51052.63
Cytec Industries 0.3 $463M 8.1k 57160.49
Morgan Stanley (MS) 0.3 $445M 19k 22967.74
Bank of America Corporation (BAC) 0.2 $436M 40k 10946.80
BHP Billiton (BHP) 0.2 $416M 4.4k 94545.45
Anadarko Pete Corp 0.2 $391M 5.1k 76666.67
Sara Lee 0.2 $379M 20k 18950.00
Research In Motion 0.2 $383M 13k 28796.99
Altria (MO) 0.2 $364M 14k 26376.81
iShares MSCI Emerging Markets Indx (EEM) 0.2 $333M 7.0k 47571.43
Monsanto Company 0.2 $326M 4.5k 72444.44
Caterpillar (CAT) 0.2 $287M 2.7k 106296.30
Union Pacific Corporation (UNP) 0.2 $292M 2.8k 104285.71
Avon Products 0.2 $282M 10k 27920.79
Apache Corporation 0.1 $265M 2.2k 123255.81
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 0.1 $243M 3.9k 62307.69
Zimmer Holdings (ZBH) 0.1 $240M 3.8k 63157.89
Tenaris (TS) 0.1 $228M 5.0k 45600.00
E M C Corp Mass 0.1 $220M 8.0k 27500.00
Time Warner 0.1 $212M 5.9k 36239.32
Freeport-McMoRan Copper & Gold (FCX) 0.1 $211M 4.0k 52750.00
Audiovox Corporation 0.1 $113M 15k 7533.33
Tetragon Fincl Group Ord 0.1 $99M 12k 8250.00