UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: March 31, 2011

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:    Allied Irish Banks, p.l.c.                      SEE AMEND #1  -  4992
Address: Office of the Secretary
         Block K Level 4  -  Bankcentre
         Ballsbridge, Dublin 4 Ireland

13F File Number:  028-05346

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:      David Schorman
Title:     Assistant Manager, Office of the Secretary
Phone:     00 353 1 772 1006

Signature, Place, and Date of Signing:

 /s/ David Schorman     Dublin, Ireland     May 12, 2011

Report Type (Check only one.):

[ X]         13F HOLDINGS REPORT.

[  ]         13F NOTICE.

[  ]         13F COMBINATION REPORT.



                              FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:         0

Form 13F Information Table Entry Total:    234

Form 13F Information Table Value Total:    $710,112 (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.

NONE



                                    
                                                     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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
3COM CORP                      COMMON           885535104      331     3540 SH       DEFINED                  3540        0        0
3M CO                          COM              88579Y101     9049    96779 SH       DEFINED                 96779        0        0
ABBOTT LABS                    COM              002824100     3124    40740 SH       DEFINED                 40740        0        0
ADOBE SYS INC                  COM              00724F101      311     9391 SH       DEFINED                  9391        0        0
AETNA INC NEW                  COM              00817Y108       74     2000 SH       DEFINED                  2000        0        0
AFFILIATED MANAGERS GROUP      COM              008252108      134     1229 SH       DEFINED                  1229        0        0
AFLAC INC                      COM              001055102       91     1718 SH       DEFINED                  1718        0        0
AGNICO EAGLE MINES LTD         COM              008474108       61      916 SH       DEFINED                   916        0        0
AGRIUM INC                     COM              008916108       62      674 SH       DEFINED                   674        0        0
ALLSTATE CORP                  COM              020002101     4504   141712 SH       DEFINED                141712        0        0
ALTERA CORP                    COM              021441100      141     3194 SH       DEFINED                  3194        0        0
AMARIN CORP PLC                SPONS ADR NEW    023111206       73    10000 SH       DEFINED                 10000        0        0
AMAZON COM INC                 COM              023135106      217     1204 SH       DEFINED                  1204        0        0
AMERICAN ELEC PWR INC          COM              025537101      234     6650 SH       DEFINED                  6650        0        0
AMERICAN EXPRESS CO            COM              025816109      182     4030 SH       DEFINED                  4030        0        0
AMERICAN TOWER CORP            CL A             029912201      543    10490 SH       DEFINED                 10490        0        0
AMERICAN WTR WKS CO INC NEW    COM              030420103      273     9750 SH       DEFINED                  9750        0        0
AMERIPRISE FINL INC            COM              03076C106       61     2184 SH       DEFINED                  2184        0        0
AMGEN INC                      COM              031162100      302     5649 SH       DEFINED                  5649        0        0
ANADARKO PETE CORP             COM              032511107     8844   107958 SH       DEFINED                107958        0        0
ANALOG DEVICES INC             COM              032654105     5003   127038 SH       DEFINED                127038        0        0
AON CORP                       COM              037389103      493     9309 SH       DEFINED                  9309        0        0
APACHE CORP                    COM              037411105      736     5618 SH       DEFINED                  5618        0        0
APPLE INC                      COM              037833100    21847    62688 SH       DEFINED                 62688        0        0
AT&T CORP NEW                  COMMON           001957505      184     6000 SH       DEFINED                  6000        0        0
AT&T INC                       COM              00206R102     9269   302796 SH       DEFINED                302796        0        0
AVON PRODS INC                 COM              054303102      183     6766 SH       DEFINED                  6766        0        0
BAKER HUGHES INC               COM              057224107      768    10458 SH       DEFINED                 10458        0        0
BANK MONTREAL QUE              COM              063671101      215     3420 SH       DEFINED                  3420        0        0
BANK NOVA SCOTIA HALIFAX       COM              064149107      366     6156 SH       DEFINED                  6156        0        0
BANK OF AMERICA CORPORATION    COM              060505104     5537   287015 SH       DEFINED                287015        0        0
BARRICK GOLD CORP              COM              067901108      739    14248 SH       DEFINED                 14248        0        0
BAXTER INTL INC                COM              071813109     4616    85844 SH       DEFINED                 85844        0        0
BERKSHIRE HATHAWAY INC DEL     CL B NEW         084670702      602     7205 SH       DEFINED                  7205        0        0
BIOGEN INC                     COMMON           090597105      109     1483 SH       DEFINED                  1483        0        0
BLUE COAT SYSTEMS INC          COM NEW          09534T508      282    10000 SH       DEFINED                 10000        0        0
BP PLC                         SPONSORED ADR    055622104       13      303 SH       DEFINED                   303        0        0
BRISTOL MYERS SQUIBB CO        COM              110122108       89     3380 SH       DEFINED                  3380        0        0
BROADCOM CORP                  CL A             111320107       28      700 SH       DEFINED                   700        0        0
C H ROBINSON WORLDWIDE INC     COM NEW          12541W209     5815    78445 SH       DEFINED                 78445        0        0
CAMECO CORP                    COM              13321L108       60     1985 SH       DEFINED                  1985        0        0
CAMERON INTERNATIONAL CORP     COM              13342B105       69     1200 SH       DEFINED                  1200        0        0
CAMPBELL SOUP CO               COM              134429109      272     8212 SH       DEFINED                  8212        0        0
CARNIVAL CORP                  COMMON           143658102       12      325 SH       DEFINED                   325        0        0
CATERPILLAR INC DEL            COM              149123101     3139    28186 SH       DEFINED                 28186        0        0
CBS CORP NEW                   CL B             124857202      165     6578 SH       DEFINED                  6578        0        0
CENOVUS ENERGY INC             COM              15135U109      172     4493 SH       DEFINED                  4493        0        0
CHEVRON CORP NEW               COM              166764100    22278   207256 SH       DEFINED                207256        0        0
CHINA LIFE INS CO LTD          SPON ADR REP H   16939P106       22      400 SH       DEFINED                   400        0        0
CHIPOTLE MEXICAN GRILL INC     COM              169656105     5672    20823 SH       DEFINED                 20823        0        0
CISCO SYS INC                  COM              17275R102     6065   353698 SH       DEFINED                353698        0        0
CITIGROUP INC                  COM              172967101     7097  1605636 SH       DEFINED               1605636        0        0
CITRIX SYS INC                 COM              177376100      286     3893 SH       DEFINED                  3893        0        0
COACH INC                      COM              189754104      156     3000 SH       DEFINED                  3000        0        0
COCA COLA CO                   COM              191216100     6542    98614 SH       DEFINED                 98614        0        0
COGNIZANT TECHNOLOGY SOLUTIO   CL A             192446102      168     2061 SH       DEFINED                  2061        0        0
COLGATE PALMOLIVE CO           COM              194162103      662     8207 SH       DEFINED                  8207        0        0
COMCAST CORP NEW               CL A             20030N101      127     5125 SH       DEFINED                  5125        0        0
CONOCOPHILLIPS                 COM              20825C104      977    12229 SH       DEFINED                 12229        0        0
COOPER INDS PLC                COM USD0.01      00B40K911      997    15358 SH       DEFINED                 15358        0        0
COVIDIEN PLC                   USD0.20(POST CON)00B68SQD2     3728    71784 SH       DEFINED                 71784        0        0
CREE INC                       COM              225447101     2214    47954 SH       DEFINED                 47954        0        0
CROWN HOLDINGS INC             COM              228368106     2633    68246 SH       DEFINED                 68246        0        0
CVS CAREMARK CORPORATION       COM              126650100      197     3079 SH       DEFINED                  3079        0        0
DANAHER CORP DEL               COM              235851102        7      130 SH       DEFINED                   130        0        0
DEERE & CO                     COM              244199105     2874    29667 SH       DEFINED                 29667        0        0
DENTSPLY INTL INC NEW          COM              249030107        6      170 SH       DEFINED                   170        0        0
DEVON ENERGY CORP NEW          COM              25179M103      372     4050 SH       DEFINED                  4050        0        0
DIRECTV                        COMMON           24590A101       47     1000 SH       DEFINED                  1000        0        0
DISNEY WALT CO                 COM DISNEY       254687106     2834    65779 SH       DEFINED                 65779        0        0
DOLBY LABORATORIES INC         COM              25659T107     4914    99862 SH       DEFINED                 99862        0        0
DOLLAR TREE INC                COM              256746108     6393   115146 SH       DEFINED                115146        0        0
DONNELLEY R R & SONS CO        COM              257867101       21     1100 SH       DEFINED                  1100        0        0
DOW CHEM CO                    COM              260543103      378    10000 SH       DEFINED                 10000        0        0
DU PONT E I DE NEMOURS & CO    COM              263534109      363     6600 SH       DEFINED                  6600        0        0
E M C CORP MASS                COM              268648102      587    22110 SH       DEFINED                 22110        0        0
EASTMAN CHEM CO                COM              277432100       29      300 SH       DEFINED                   300        0        0
EBAY INC                       COM              278642103      302     9729 SH       DEFINED                  9729        0        0
EMERSON ELEC CO                COM              291011104    13759   235469 SH       DEFINED                235469        0        0
ENBRIDGE INC                   COM              29250N105      128     2153 SH       DEFINED                  2153        0        0
ENCANA CORP                    COM              292505104      321     9305 SH       DEFINED                  9305        0        0
EXPRESS SCRIPTS INC            COM              302182100       45      801 SH       DEFINED                   801        0        0
EXXON MOBIL CORP               COM              30231G102    26571   315844 SH       DEFINED                315844        0        0
FEDEX CORP                     COM              31428X106      283     3020 SH       DEFINED                  3020        0        0
FIRST HORIZON NATL CORP        COM              320517105     3748   334379 SH       DEFINED                334379        0        0
FLUOR CORP NEW                 COM              343412102      326     4422 SH       DEFINED                  4422        0        0
FOCUS MEDIA HLDG LTD           SPONSORED ADR    34415V109      264     8600 SH       DEFINED                  8600        0        0
FORD MTR CO DEL                COM PAR $0.01    345370860      167    11182 SH       DEFINED                 11182        0        0
FREEPORT-MCMORAN COPPER & GO   COM              35671D857      463     8328 SH       DEFINED                  8328        0        0
GENERAL ELECTRIC CO            COM              369604103    10190   508216 SH       DEFINED                508216        0        0
GENERAL MLS INC                COM              370334104     6177   168985 SH       DEFINED                168985        0        0
GENZYME CORP                   COM              372917104       25      327 SH       DEFINED                   327        0        0
GILEAD SCIENCES INC            COM              375558103     7085   166842 SH       DEFINED                166842        0        0
GLAXOSMITHKLINE PLC            SPONSORED ADR    37733W105       50     1320 SH       DEFINED                  1320        0        0
GOLDCORP INC NEW               COM              380956409      225     4521 SH       DEFINED                  4521        0        0
GOLDMAN SACHS GROUP INC        COM              38141G104     3810    24021 SH       DEFINED                 24021        0        0
GOOGLE INC                     CL A             38259P508     7207    12282 SH       DEFINED                 12282        0        0
GREATER CHINA FD INC           COM              39167B102       32     2564 SH       DEFINED                  2564        0        0
GREENHILL & CO INC             COM              395259104     2940    44685 SH       DEFINED                 44685        0        0
HANESBRANDS INC                COM              410345102       59     2195 SH       DEFINED                  2195        0        0
HARLEY DAVIDSON INC            COM              412822108     4203    98929 SH       DEFINED                 98929        0        0
HARTFORD FINL SVCS GROUP INC   COM              416515104      119     4404 SH       DEFINED                  4404        0        0
HEINZ H J CO                   COM              423074103       23      477 SH       DEFINED                   477        0        0
HESS CORP                      COM              42809H107      392     4600 SH       DEFINED                  4600        0        0
HEWLETT PACKARD CO             COM              428236103     4262   104031 SH       DEFINED                104031        0        0
HOLLYSYS AUTOMATION TECHNOLO   SHS              G45667105       23     1733 SH       DEFINED                  1733        0        0
HOME DEPOT INC                 COM              437076102      221     5951 SH       DEFINED                  5951        0        0
HONEYWELL INTL INC             COM              438516106     7315   122496 SH       DEFINED                122496        0        0
ILLINOIS TOOL WKS INC          COM              452308109     5113    95182 SH       DEFINED                 95182        0        0
INTEL CORP                     COM              458140100     7472   370291 SH       DEFINED                370291        0        0
INTERCONTINENTALEXCHANGE INC   COM              45865V100     4861    39348 SH       DEFINED                 39348        0        0
INTERNATIONAL BUSINESS MACHS   COM              459200101    14287    87619 SH       DEFINED                 87619        0        0
INTL PAPER CO                  COM              460146103      290     9600 SH       DEFINED                  9600        0        0
INTUIT                         COM              461202103       98     1850 SH       DEFINED                  1850        0        0
INVESCO LTD                    SHS              G491BT108      155     6054 SH       DEFINED                  6054        0        0
ISHARES TR                     DJ SEL DIV INX   464287168      266     5100 SH       DEFINED                  5100        0        0
JOHNSON & JOHNSON              COM              478160104    12968   218881 SH       DEFINED                218881        0        0
JPMORGAN CHASE & CO            COM              46625H100    18119   393043 SH       DEFINED                393043        0        0
KELLOGG CO                     COM              487836108      347     6432 SH       DEFINED                  6432        0        0
KINROSS GOLD CORP              COMMON           496902206      197    12513 SH       DEFINED                 12513        0        0
KRAFT FOODS INC                CL A             50075N104     5623   179334 SH       DEFINED                179334        0        0
KROGER CO                      COM              501044101      300    12500 SH       DEFINED                 12500        0        0
LANDSTAR SYS INC               COM              515098101     4350    95238 SH       DEFINED                 95238        0        0
LAZARD LTD                     SHS A            G54050102      291     7000 SH       DEFINED                  7000        0        0
LENNAR CORP                    CL A             526057104     3761   207568 SH       DEFINED                207568        0        0
LILLY ELI & CO                 COM              532457108       48     1369 SH       DEFINED                  1369        0        0
LIMITED BRANDS INC             COM              532716107      306     9300 SH       DEFINED                  9300        0        0
LINCOLN NATL CORP IND          COM              534187109      751    25015 SH       DEFINED                 25015        0        0
LOCKHEED MARTIN CORP           COM              539830109     1779    22121 SH       DEFINED                 22121        0        0
LOUISIANA PAC CORP             COM              546347105       44     4147 SH       DEFINED                  4147        0        0
LOWES COS INC                  COM              548661107      135     5100 SH       DEFINED                  5100        0        0
MARKET VECTORS ETF TR          GOLD MINER ETF   57060U100    11187   186139 SH       DEFINED                186139        0        0
MARSH & MCLENNAN COS INC       COM              571748102     4742   159078 SH       DEFINED                159078        0        0
MCDERMOTT INTL INC             COM              580037109      141     5563 SH       DEFINED                  5563        0        0
MCDONALDS CORP                 COM              580135101     6334    83919 SH       DEFINED                 83919        0        0
MCKESSON CORP                  COM              58155Q103       31      389 SH       DEFINED                   389        0        0
MEAD JOHNSON NUTRITION CO      COM              582839106     4446    76742 SH       DEFINED                 76742        0        0
MEDASSETS INC                  COM              584045108       39     2562 SH       DEFINED                  2562        0        0
MEDNAX INC                     COM              58502B106     5072    76139 SH       DEFINED                 76139        0        0
MEDTRONIC INC                  COM              585055106       63     1602 SH       DEFINED                  1602        0        0
MERCK & CO INC NEW             COM              58933Y105     6937   210140 SH       DEFINED                210140        0        0
MERCK & COMPANY INC            COMMON           589331107      538    16300 SH       DEFINED                 16300        0        0
METLIFE INC                    COM              59156R108    10075   225234 SH       DEFINED                225234        0        0
MICROCHIP TECHNOLOGY INC       COM              595017104     9822   258411 SH       DEFINED                258411        0        0
MICROSOFT CORP                 COM              594918104     8925   351553 SH       DEFINED                351553        0        0
MOLEX INC                      COM              608554101        6      220 SH       DEFINED                   220        0        0
MONSANTO CO NEW                COM              61166W101     5731    79307 SH       DEFINED                 79307        0        0
MYLAN INC                      COM              628530107      144     6363 SH       DEFINED                  6363        0        0
NATIONAL OILWELL VARCO INC     COM              637071101     8358   105436 SH       DEFINED                105436        0        0
NAVISTAR INTL CORP NEW         COM              63934E108      603     8700 SH       DEFINED                  8700        0        0
NETFLIX INC                    COM              64110L106     5716    24037 SH       DEFINED                 24037        0        0
NEWELL RUBBERMAID INC          COM              651229106     4926   257496 SH       DEFINED                257496        0        0
NEWFIELD EXPL CO               COM              651290108      114     1505 SH       DEFINED                  1505        0        0
NEWS CORP                      CL A             65248E104      362    20569 SH       DEFINED                 20569        0        0
NEXEN INC                      COM              65334H102       83     3344 SH       DEFINED                  3344        0        0
NEXTERA ENERGY INC             COM              65339F101       59     1074 SH       DEFINED                  1074        0        0
NII HLDGS INC                  CL B NEW         62913F201      126     3016 SH       DEFINED                  3016        0        0
NIKE INC                       CL B             654106103     4769    63002 SH       DEFINED                 63002        0        0
NOBLE CORP COM                 CHF4.75          003334731     3382    74134 SH       DEFINED                 74134        0        0
NORFOLK SOUTHERN CORP          COM              655844108     3811    55009 SH       DEFINED                 55009        0        0
NORTHERN TR CORP               COM              665859104     6237   122906 SH       DEFINED                122906        0        0
NOVELLUS SYS INC               COM              670008101      162     4352 SH       DEFINED                  4352        0        0
NVIDIA CORP                    COM              67066G104      203    10976 SH       DEFINED                 10976        0        0
OCCIDENTAL PETE CORP DEL       COM              674599105      361     3459 SH       DEFINED                  3459        0        0
OMNICOM GROUP INC              COM              681919106      556    11337 SH       DEFINED                 11337        0        0
ORACLE CORP                    COM              68389X105    16470   492633 SH       DEFINED                492633        0        0
ORASURE TECHNOLOGIES INC       COM              68554V108      274    35000 SH       DEFINED                 35000        0        0
PEPSICO INC                    COM              713448108     7643   118667 SH       DEFINED                118667        0        0
PETROLEO BRASILEIRO SA PETRO   SPONSORED ADR    71654V408     2892     6000 SH       DEFINED                  6000        0        0
PFIZER INC                     COM              717081103     2294   112913 SH       DEFINED                112913        0        0
PHILIP MORRIS INTL INC         COM              718172109    15490   236007 SH       DEFINED                236007        0        0
POOL CORPORATION               COM              73278L105     5883   244026 SH       DEFINED                244026        0        0
POTASH CORP SASK INC           COM              73755L107       85     1436 SH       DEFINED                  1436        0        0
PRAXAIR INC                    COM              74005P104      203     2000 SH       DEFINED                  2000        0        0
PROCTER & GAMBLE CO            COM              742718109    13405   217615 SH       DEFINED                217615        0        0
PRUDENTIAL FINL INC            COM              744320102      104     1687 SH       DEFINED                  1687        0        0
PUBLIC SVC ENTERPRISE GROUP    COM              744573106     7316   232183 SH       DEFINED                232183        0        0
QUALCOMM INC                   COM              747525103      250     4553 SH       DEFINED                  4553        0        0
QUANTA SVCS INC                COM              74762E102        5      225 SH       DEFINED                   225        0        0
REYNOLDS AMERICAN INC          COM              761713106       17      486 SH       DEFINED                   486        0        0
ROCKWELL AUTOMATION INC        COM              773903109      340     3592 SH       DEFINED                  3592        0        0
ROPER INDS INC NEW             COM              776696106      287     3320 SH       DEFINED                  3320        0        0
SCHEIN HENRY INC               COM              806407102      483     6877 SH       DEFINED                  6877        0        0
SCHLUMBERGER LTD               COM              806857108     1588    17025 SH       DEFINED                 17025        0        0
SELECT SECTOR SPDR TR          SBI INT-FINL     81369Y605     5082   310092 SH       DEFINED                310092        0        0
SELECT SECTOR SPDR TR          SBI INT-UTILS    81369Y886      549    17230 SH       DEFINED                 17230        0        0
SELECT SECTOR SPDR TR          SBI MATERIALS    81369Y100      708    17680 SH       DEFINED                 17680        0        0
SIMON PPTY GROUP INC NEW       COM              828806109       99      924 SH       DEFINED                   924        0        0
SMURFIT-STONE                  CONT ESC (DIV)   832ESC990        0     2025 SH       DEFINED                  2025        0        0
SOUTHERN CO                    COM              842587107     8887   233209 SH       DEFINED                233209        0        0
SOUTHWESTERN ENERGY CO         COM              845467109     4318   100486 SH       DEFINED                100486        0        0
SPDR S&P 500 ETF TR            TR UNIT          78462F103    15285   115283 SH       DEFINED                115283        0        0
SPX CORP                       COM              784635104       87     1091 SH       DEFINED                  1091        0        0
STANLEY BLACK & DECKER INC     COM              854502101     6020    78585 SH       DEFINED                 78585        0        0
STAPLES INC                    COM              855030102       69     3560 SH       DEFINED                  3560        0        0
STARBUCKS CORP                 COM              855244109      377    10207 SH       DEFINED                 10207        0        0
STERICYCLE INC                 COM              858912108      304     3434 SH       DEFINED                  3434        0        0
STRYKER CORP                   COM              863667101     4908    80724 SH       DEFINED                 80724        0        0
SUN LIFE FINL INC              COM              866796105      113     3707 SH       DEFINED                  3707        0        0
SUNCOR ENERGY INC NEW          COM              867224107      427     9519 SH       DEFINED                  9519        0        0
SYSCO CORP                     COM              871829107      140     5042 SH       DEFINED                  5042        0        0
TARGET CORP                    COM              87612E106        5      100 SH       DEFINED                   100        0        0
TELUS CORP                     NON-VTG          87871M202       90     1823 SH       DEFINED                  1823        0        0
TEREX CORP NEW                 COM              880779103     2917    78755 SH       DEFINED                 78755        0        0
TEVA PHARMACEUTICAL INDS LTD   ADR              881624209     4779    95257 SH       DEFINED                 95257        0        0
TEXAS INSTRS INC               COM              882508104      364    10518 SH       DEFINED                 10518        0        0
THERMO FISHER SCIENTIFIC INC   COM              883556102     7624   137251 SH       DEFINED                137251        0        0
TIFFANY & CO NEW               COM              886547108      178     2904 SH       DEFINED                  2904        0        0
TIME WARNER CABLE INC          COM              88732J207      359     5037 SH       DEFINED                  5037        0        0
TIME WARNER INC                COM NEW          887317303     4388   122910 SH       DEFINED                122910        0        0
TJX COS INC NEW                COM              872540109     7537   151562 SH       DEFINED                151562        0        0
TORONTO DOMINION BK ONT        COM NEW          891160509      449     5230 SH       DEFINED                  5230        0        0
TRANSITION THERAPEUTICS INC    COM NEW          893716209       43    10000 SH       DEFINED                 10000        0        0
TRAVELERS COMPANIES INC        COM              89417E109       11     1870 SH       DEFINED                  1870        0        0
ULTA SALON COSMETCS & FRAG I   COM              90384S303     7742   160864 SH       DEFINED                160864        0        0
ULTRA PETROLEUM CORP           COM              903914109      229     4650 SH       DEFINED                  4650        0        0
UNITED PARCEL SERVICE INC      CL B             911312106      279     3758 SH       DEFINED                  3758        0        0
UNITED TECHNOLOGIES CORP       COM              913017109     7487    88448 SH       DEFINED                 88448        0        0
UNITEDHEALTH GROUP INC         COM              91324P102      175     3871 SH       DEFINED                  3871        0        0
US BANCORP DEL                 COM NEW          902973304    12744   482169 SH       DEFINED                482169        0        0
V F CORP                       COM              918204108    11282   114508 SH       DEFINED                114508        0        0
VALERO ENERGY CORP NEW         COM              91913Y100     6577   220548 SH       DEFINED                220548        0        0
VERIZON COMMUNICATIONS INC     COM              92343V104    12450   323034 SH       DEFINED                323034        0        0
VERTEX PHARMACEUTICALS INC     COM              92532F100       77     1600 SH       DEFINED                  1600        0        0
WAL MART STORES INC            COM              931142103    11525   221421 SH       DEFINED                221421        0        0
WALGREEN CO                    COM              931422109     6571   163704 SH       DEFINED                163704        0        0
WASTE MGMT INC DEL             COM              94106L109        5      145 SH       DEFINED                   145        0        0
WATERS CORP                    COM              941848103     4383    50442 SH       DEFINED                 50442        0        0
WEATHERFORD INT LT             CHF0.01          003883839     6295   278560 SH       DEFINED                278560        0        0
WELLPOINT INC                  COM              94973V107      192     2747 SH       DEFINED                  2747        0        0
WELLS FARGO & CO NEW           COM              949746101     5876   185338 SH       DEFINED                185338        0        0
WHIRLPOOL CORP                 COM              963320106      120     1400 SH       DEFINED                  1400        0        0
WHOLE FOODS MKT INC            COM              966837106      333     5060 SH       DEFINED                  5060        0        0
YUM BRANDS INC                 COM              988498101      229     6320 SH       DEFINED                  6320        0        0