0001140361-12-000796.txt : 20120104 0001140361-12-000796.hdr.sgml : 20120104 20120104155953 ACCESSION NUMBER: 0001140361-12-000796 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120104 DATE AS OF CHANGE: 20120104 EFFECTIVENESS DATE: 20120104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRIVATE ASSET MANAGEMENT INC CENTRAL INDEX KEY: 0001026200 IRS NUMBER: 330524568 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-03581 FILM NUMBER: 12506059 BUSINESS ADDRESS: STREET 1: 11995 EL CAMINO REAL STREET 2: SUITE 303 CITY: SAN DIEGO STATE: CA ZIP: 92130 BUSINESS PHONE: 6197923800 MAIL ADDRESS: STREET 1: 11995 EL CAMINO REAL STREET 2: SUITE 303 CITY: SAN DIEGO STATE: CA ZIP: 92130 13F-HR 1 form13fhr.txt NONE UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/2011 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: Private Asset Management, Inc. Address: 5348 Carroll Canyon Rd #200 San Diego, CA 92121 voice - 858-750-4209 Form 13F File Number: 028-03581 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 submission. Persons Signing this Report on Behalf of Reporting Manager: Name: Michael D. Berlin Title: General Counsel Phone: 858-750-4209 Signature, Place, and Date of Signing: /s/ Michael D. Berlin San Diego, CA 1/4/2012 --------------------------------- --------------------------------- ---------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 131 Form 13F Information Table Value Total: $380,787,970.00 -------------- List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ --------------- --------- ---------- ------------------ ---------- -------- --------------------- SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP VALUE PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ --------------- --------- ---------- --------- --- ---- ---------- -------- ---- ------ --------- QUALCOMM INC COMMON STOCK 747525103 47,444,384 867,356 X NONE - - 867,356 CHEVRON CORP COMMON STOCK 166764100 20,043,027 188,374 X NONE - - 188,374 EXXON MOBIL CORP COMMON STOCK 30231G102 16,228,555 191,465 X NONE - - 191,465 GENERAL ELEC CO COMMON STOCK 369604103 12,969,327 724,139 X NONE - - 724,139 JOHNSON & JOHNSON COMMON STOCK 478160104 12,049,518 183,738 X NONE - - 183,738 PFIZER INC COMMON STOCK 717081103 10,672,157 493,168 X NONE - - 493,168 INTEL CORP COMMON STOCK 458140100 10,189,667 420,192 X NONE - - 420,192 INTERNATIONAL BUS MACH COMMON STOCK 459200101 9,659,336 52,531 X NONE - - 52,531 SCHWAB VALUE ADVANTAGE MONEY F OTHER ASSETS 808515605 9,432,794 9,432,794 X NONE - - 9,432,794 EL PASO CORP COMMON STOCK 28336L109 9,238,844 347,717 X NONE - - 347,717 UNITED TECHNOLOGIES CP COMMON STOCK 913017109 8,845,279 121,019 X NONE - - 121,019 COLGATE-PALMOLIVE CO. COMMON STOCK 194162103 7,768,983 84,089 X NONE - - 84,089 MERCK & CO INC COMMON STOCK 58933Y105 7,722,763 204,848 X NONE - - 204,848 PEPSICO INC COMMON STOCK 713448108 7,113,516 107,212 X NONE - - 107,212 EMERSON ELEC CO COM COMMON STOCK 291011104 6,503,099 139,581 X NONE - - 139,581 HOME DEPOT INC COMMON STOCK 437076102 6,356,532 151,202 X NONE - - 151,202 PROGRESS ENERGY INC COMMON STOCK 743263105 6,172,956 110,192 X NONE - - 110,192 BRISTOL MYERS SQUIBB COMMON STOCK 110122108 5,620,850 159,502 X NONE - - 159,502 J P MORGAN CHASE & CO INC COMMON STOCK 46625H100 5,548,660 166,877 X NONE - - 166,877 BP PLC-ADR COMMON STOCK 055622104 5,461,274 127,779 X NONE - - 127,779 3M COMPANY COMMON STOCK 88579Y101 5,421,069 66,329 X NONE - - 66,329 CISCO SYS INC COMMON STOCK 17275R102 5,404,485 298,921 X NONE - - 298,921 SIGMA ALDRICH COMMON STOCK 826552101 5,183,181 82,984 X NONE - - 82,984 E M C CORP MASS COMMON STOCK 268648102 4,676,506 217,108 X NONE - - 217,108 ORACLE CORPORATION COMMON STOCK 68389X105 4,447,978 173,410 X NONE - - 173,410 ITRON INC COMMON STOCK 465741106 4,432,261 123,910 X NONE - - 123,910 PROCTER & GAMBLE CO COM COMMON STOCK 742718109 4,419,692 66,252 X NONE - - 66,252 AT&T INC COMMON STOCK 00206R102 4,315,097 142,695 X NONE - - 142,695 DIAGEO PLC NEW- SPON ADR COMMON STOCK 25243Q205 4,164,514 47,638 X NONE - - 47,638 BANK OF AMERICA CORP COMMON STOCK 060505104 4,050,609 728,527 X NONE - - 728,527 SOUTHERN CO COMMON STOCK 842587107 3,895,598 84,156 X NONE - - 84,156 WALGREEN CO COMMON STOCK 931422109 3,879,723 117,354 X NONE - - 117,354 MICROSOFT CORP COMMON STOCK 594918104 3,866,161 148,928 X NONE - - 148,928 NOVARTIS AG-ADR COMMON STOCK 66987V109 3,839,309 67,156 X NONE - - 67,156 XYLEM INC COMMON STOCK 98419M100 3,581,417 139,409 X NONE - - 139,409 MONSANTO CO COMMON STOCK 61166W101 3,580,016 51,092 X NONE - - 51,092 WAL MART STORES INC COMMON STOCK 931142103 3,558,433 59,545 X NONE - - 59,545 VALE SA COMMON STOCK 91912E105 3,515,097 163,874 X NONE - - 163,874 PENTAIR INC COMMON STOCK 709631105 3,507,534 105,363 X NONE - - 105,363 VISA INC COMMON STOCK 92826C839 3,367,953 33,172 X NONE - - 33,172 WELLS FARGO COMPANY COMMON STOCK 949746101 3,177,903 115,309 X NONE - - 115,309 DISNEY (WALT) HOLDINGS COMMON STOCK 254687106 3,031,762 80,847 X NONE - - 80,847 PENN WEST ENERGY TRUST COMMON STOCK 707887105 2,868,723 144,885 X NONE - - 144,885 TEVA PHARMACEUTICAL ADR COMMON STOCK 881624209 2,854,663 70,730 X NONE - - 70,730 SCHWAB CA MUNI MONEY FD OTHER ASSETS 808508204 2,767,552 2,767,552 X NONE - - 2,767,552 ROYAL DUTCH SHEL ADR A COMMON STOCK rdsa 2,379,810 32,560 X NONE - - 32,560 BERKSHIRE HATHAWAY INC. - CL B COMMON STOCK brkb 2,276,410 29,835 X NONE - - 29,835 AMGEN INC COMMON STOCK 031162100 2,145,192 33,409 X NONE - - 33,409 CHINA MOBILE HD ADR F COMMON STOCK 16941M109 1,961,905 40,460 X NONE - - 40,460 PHILIP MORRIS INTL COMMON STOCK 718172109 1,942,223 24,748 X NONE - - 24,748 HEALTH CARE REIT INC COMMON STOCK 42217K106 1,920,819 35,225 X NONE - - 35,225 EL PASO PIPELINE PARTNERS LP COMMON STOCK 283702108 1,914,659 55,305 X NONE - - 55,305 COSTCO WHOLESALE CORP COMMON STOCK 22160K105 1,878,949 22,551 X NONE - - 22,551 APPLIED MATERIALS INC. COMMON STOCK 038222105 1,662,470 155,226 X NONE - - 155,226 COMPLETE PRODUCTION SERVICES COMMON STOCK 20453E109 1,620,109 48,275 X NONE - - 48,275 APPLE COMPUTER INC COMMON STOCK 037833100 1,542,645 3,809 X NONE - - 3,809 CREDIT SUISSE PFD 7.90% PREFERRED STOCK crp.pr 1,512,534 59,199 X NONE - - 59,199 OCCIDENTAL PETE CP DEL COMMON STOCK 674599105 1,465,093 15,636 X NONE - - 15,636 BERKSHIRE HATHAWAY INC (1/100 COMMON STOCK 08499017 1,377,060 1,200 X NONE - - 1,200 ALCOA INC COMMON STOCK 013817101 1,369,208 158,290 X NONE - - 158,290
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ --------------- --------- ---------- ------------------ ---------- -------- --------------------- SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP VALUE PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ --------------- --------- ---------- --------- --- ---- ---------- -------- ---- ------ --------- STARBUCKS CORP COMMON STOCK 855244109 1,287,389 27,981 X NONE - - 27,981 ALLSTATE CORP COMMON STOCK 020002101 1,250,581 45,625 X NONE - - 45,625 TRANSOCEAN INC COMMON STOCK rig 1,204,486 31,375 X NONE - - 31,375 CITIGROUP INC COMMON STOCK 172967424 1,067,844 40,587 X NONE - - 40,587 GOOGLE INC-CL A COMMON STOCK 38259P508 1,006,958 1,559 X NONE - - 1,559 ALLIANZ SE PFD 8.375% PREFERRED STOCK 01880520 988,010 38,698 X NONE - - 38,698 GILEAD SCIENCES INC. COMMON STOCK 375558103 985,185 24,070 X NONE - - 24,070 F5 NETWORKS INC COMMON STOCK 315616102 968,345 9,125 X NONE - - 9,125 TIDEWATER INC COMMON STOCK 886423102 898,492 18,225 X NONE - - 18,225 AMERICAN EXPRESS CO COMMON STOCK 025816109 883,400 18,728 X NONE - - 18,728 DB CAP TRUST III 7.6% PFD PREFERRED STOCK dtk.pr 841,407 38,900 X NONE - - 38,900 WACHOVIA CAP TR 6.375 PFD SUB PREFERRED STOCK wb.pr.b 796,314 31,650 X NONE - - 31,650 MEDTRONIC INC COMMON STOCK 585055106 792,999 20,732 X NONE - - 20,732 BANK OF AMERICA PFD 8.2% PREFERRED STOCK bac.pr.h 724,880 32,800 X NONE - - 32,800 ITT INDUSTRIES INC. COMMON STOCK 450911201 686,060 35,492 X NONE - - 35,492 VERIZON COMMUNICATIONS COMMON STOCK 92343V104 676,504 16,862 X NONE - - 16,862 SYMANTEC CORP COMMON STOCK 871503108 626,782 40,050 X NONE - - 40,050 EDISON INTERNATIONAL COMMON STOCK 281020107 618,692 14,944 X NONE - - 14,944 FREEPORT-MCMORAN COPPER B COMMON STOCK 35671D857 610,567 16,596 X NONE - - 16,596 CONOCOPHILLIPS COMMON STOCK 20825C104 605,040 8,303 X NONE - - 8,303 BLACKROCK INC COMMON STOCK 09247X101 602,986 3,383 X NONE - - 3,383 WELLS FARGO CAP XII PFD 7.875% PREFERRED STOCK bwf.pr 576,978 22,200 X NONE - - 22,200 SPX CORP COMMON STOCK 784635104 569,672 9,452 X NONE - - 9,452 SCHLUMBERGER LTD COMMON STOCK 806857108 512,393 7,501 X NONE - - 7,501 P G & E CORPORATION COMMON STOCK 69331C108 512,158 12,425 X NONE - - 12,425 ABBOTT LABS COMMON STOCK 002824100 478,586 8,511 X NONE - - 8,511 STRYKER CORP COMMON STOCK 863667101 462,303 9,300 X NONE - - 9,300 BARCLAYS BK PLC PFD 7.1% PREFERRED STOCK bcs.pr.a 442,176 22,366 X NONE - - 22,366 FLUOR CORP (NEW) COMMON STOCK 343412102 435,466 8,666 X NONE - - 8,666 REPUBLIC SERVICES INC-CL A COMMON STOCK 760759100 418,347 15,185 X NONE - - 15,185 EQT CORP COMMON STOCK 26884L109 414,103 7,558 X NONE - - 7,558 AIR PRODS & CHEMS INC COMMON STOCK 009158106 400,393 4,700 X NONE - - 4,700 ENTERPRISE FINANCIAL SERVICES COMMON STOCK 293712105 397,114 26,832 X NONE - - 26,832 NESTLE S A COMMON STOCK 641069406 378,248 6,550 X NONE - - 6,550 KINDER MORGAN ENERGY PTNRS LP COMMON STOCK 494550106 357,724 4,211 X NONE - - 4,211 COCA COLA CO COMMON STOCK 191216100 356,926 5,101 X NONE - - 5,101 HONEYWELL INTL INC COMMON STOCK 438516106 345,122 6,350 X NONE - - 6,350 PUBLIC SVC ENTERPRISE COMMON STOCK 744573106 339,079 10,272 X NONE - - 10,272 BOSTON SCIENTIFIC CORP COMMON STOCK 101137107 336,772 63,066 X NONE - - 63,066 SOUTHWEST GAS CORP. COMMON STOCK 844895102 331,422 7,800 X NONE - - 7,800 JP MORGAN CHASE 8.625% PFD PREFERRED STOCK jpm.pr.i 331,200 12,000 X NONE - - 12,000 BARCLAYS BK 8.125% PFD PREFERRED STOCK bcs.pr.d 316,287 14,196 X NONE - - 14,196 MCDONALDS CORP COMMON STOCK 580135101 316,227 3,152 X NONE - - 3,152 CATERPILLAR INC COMMON STOCK 149123101 312,327 3,447 X NONE - - 3,447 REALTY INCOME CORP COMMON STOCK 756109104 304,152 8,700 X NONE - - 8,700 UNION PACIFIC CORP COMMON STOCK 907818108 270,253 2,551 X NONE - - 2,551 PPG INDUSTRIES INC COMMON STOCK 693506107 262,993 3,150 X NONE - - 3,150 ISIS PHARMACEUTICALS INC COMMON STOCK 464330109 257,757 35,750 X NONE - - 35,750 LILLY ELI & CO COMMON STOCK 532457108 225,879 5,435 X NONE - - 5,435 UNILEVER NV - NY SHARES COMMON STOCK 904784709 219,968 6,400 X NONE - - 6,400 BANK OF AMERICA PFD 7.25% PREFERRED STOCK bac.pr.j 217,905 10,950 X NONE - - 10,950 EQUIFAX INC COMMON STOCK 294429105 217,331 5,610 X NONE - - 5,610 NEW YORK COMMUNITY BANK COMMON STOCK 649445103 207,197 16,750 X NONE - - 16,750 BAXTER INTL INC COMMON STOCK 071813109 203,801 4,119 X NONE - - 4,119 CBL & ASSOCIATES PROPERTIES COMMON STOCK 124830100 192,011 12,230 X NONE - - 12,230 COMMERCEWEST BANK NA COMMON STOCK 20084T103 157,735 28,167 X NONE - - 28,167 KB HOME COMMON STOCK 48666K109 157,382 23,420 X NONE - - 23,420 VALLEY BANKCORP COMMON STOCK 919794107 129,885 10,500 X NONE - - 10,500 INTERMEC INC COMMON STOCK 458786100 121,422 17,700 X NONE - - 17,700 APPLIED MICRO CIRCUITS CORP COMMON STOCK 03822W406 110,510 16,445 X NONE - - 16,445
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ --------------- --------- ---------- ------------------ ---------- -------- --------------------- SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP VALUE PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ --------------- --------- ---------- --------- --- ---- ---------- -------- ---- ------ --------- SAN DIEGO PRIVATE BANK *PVT PL COMMON STOCK 79799019 97,750 11,500 X NONE - - 11,500 SOLAR POWER INC COMMON STOCK 83490A100 57,090 173,000 X NONE - - 173,000 INTL TOWER HILL MINES COMMON STOCK 46050R102 47,960 11,000 X NONE - - 11,000 VISION INDUSTRIES CORP COMMON STOCK 92835C101 24,000 100,000 X NONE - - 100,000 SCHWAB INVESTOR MONEY FUND OTHER ASSETS 808515878 10,929 10,929 X NONE - - 10,929 GELTECH SOLUTIONS INC COMMON STOCK 368537106 9,800 17,500 X NONE - - 17,500 VANTEX RESOURCES LTD COMMON STOCK 921945408 1,223 10,400 X NONE - - 10,400 E DIGITAL CORP COMMON STOCK 26841Y103 1,170 46,811 X NONE - - 46,811 BON COEUR INC COMMON STOCK 09776B108 54 18,000 X NONE - - 18,000 BIO-MATRIX SCIENTIFIC GROUP COMMON STOCK 09065C106 26 12,500 X NONE - - 12,500 GENERAL MTRS CP 8.8% XXX ESCRO OTHER ASSETS 370escaj - 15,000 X NONE - - 15,000