0001140361-12-033215.txt : 20120716 0001140361-12-033215.hdr.sgml : 20120716 20120716161857 ACCESSION NUMBER: 0001140361-12-033215 CONFORMED SUBMISSION TYPE: 13F-HR/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120716 DATE AS OF CHANGE: 20120716 EFFECTIVENESS DATE: 20120716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERKSHIRE ASSET MANAGEMENT LLC/PA CENTRAL INDEX KEY: 0000949012 IRS NUMBER: 260256914 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR/A SEC ACT: 1934 Act SEC FILE NUMBER: 028-05034 FILM NUMBER: 12963965 BUSINESS ADDRESS: STREET 1: 46 PUBLIC SQUARE CITY: WILKES BARRE STATE: PA ZIP: 18701 BUSINESS PHONE: 5708252600 MAIL ADDRESS: STREET 1: 46 PUBLIC SQUARE CITY: WILKES BARRE STATE: PA ZIP: 18701 FORMER COMPANY: FORMER CONFORMED NAME: BERKSHIRE ASSET MANAGEMENT INC/PA DATE OF NAME CHANGE: 19990317 13F-HR/A 1 form13fhra.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: 3/31/2012 Check here if Amendment [X]; Amendment Number: 1 ------- This Amendment (Check only one.): [X] is a restatement. [] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Berkshire Asset Management, LLC Address: 46 Public Square, Suite 700 Wilkes-Barre, PA 18701 Form 13F File Number: 28- 5034 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: Marilyn D. Millington Title: Vice President & CCO Phone: 570-825-2600 Signature, Place, and Date of Signing: /s/ Marilyn D. Millington Wilkes-Barre, PA 7/13/2012 --------------------------------- --------------------------------- ---------- [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: 138 Form 13F Information Table Value Total: $ 379,310 -------------- (In Thousands) 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 ------------------------------ ---------------- --------- -------- ----------------- ---------- -------- ------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ ---- Abbott Labs COM 002824100 12,984 211,851 SH SOLE 211,851 0 0 ADP COM 053015103 7,489 135,696 SH SOLE 135,696 0 0 Air Products & Chemicals COM 009158106 218 2,370 SH SOLE 2,370 0 0 Altria Group COM 02209s103 2,674 86,618 SH SOLE 86,618 0 0 American Elec Power COM 025537101 2,841 73,646 SH SOLE 73,646 0 0 American Express COM 025816109 717 12,393 SH SOLE 12,393 0 0 Anadarko Petroleum COM 032511107 367 4,690 SH SOLE 4,690 0 0 Apple Computer COM 037833100 680 1,135 SH SOLE 1,135 0 0 AT&T COM 00206r102 3,019 96,667 SH SOLE 96,667 0 0 Autodesk COM 052769106 202 4,766 SH SOLE 4,766 0 0 Bank of America COM 060505104 839 87,700 SH SOLE 87,700 0 0 Bank of Montreal COM 063671101 1,410 23,725 SH SOLE 23,725 0 0 Becton Dickinson CL A 075887109 1,807 23,274 SH SOLE 23,274 0 0 Berkshire Hathaway Cl A CL A 084670108 244 2 SH SOLE 2 0 0 Berkshire Hathaway Cl B CL B NEW 084670207 660 8,135 SH SOLE 8,135 0 0 Biogen Idec COM 09062x103 464 3,685 SH SOLE 3,685 0 0 BlackRock High Yield Trust SH BEN INT 09248n102 595 82,160 SH SOLE 82,160 0 0 Cabelvision Systems CL A NY CBLVS 12686c109 166 11,341 SH SOLE 11,341 0 0 Campbell Soup COM 134429109 2,367 69,917 SH SOLE 69,917 0 0 Cardinal Health COM 14149y108 841 19,497 SH SOLE 19,497 0 0 Chevron Texaco COM 166764100 3,015 28,119 SH SOLE 28,119 0 0 Chubb COM 171232101 6,838 98,937 SH SOLE 98,937 0 0 Cisco COM 17275r102 8,006 378,512 SH SOLE 378,512 0 0 Citigroup COM NEW 172967424 6,781 185,538 SH SOLE 185,538 0 0 Coca Cola COM 191216100 8,273 111,785 SH SOLE 111,785 0 0 Comcast Corp Special Cl A CL A SPL 20030N200 470 15,920 SH SOLE 15,920 0 0 Community Bank System COM 203607106 5,849 203,232 SH SOLE 203,232 0 0 ConocoPhillips COM 20825c104 2,903 38,197 SH SOLE 38,197 0 0 Covidien SHS g2554f113 5,528 101,093 SH SOLE 101,093 0 0 Cumberland Pharmaceuticals COM 230770109 269 35,928 SH SOLE 35,928 0 0 CVS Caremark COM 126650100 153 3,410 SH SOLE 3,410 0 0 Delta COM 247361702 3,671 370,287 SH SOLE 370,287 0 0 Directv COM CL A 25490A101 5,666 114,829 SH SOLE 114,829 0 0 Disney COM DISNEY 254687106 4,007 91,527 SH SOLE 91,527 0 0 Duke Energy COM 26441c105 2,494 118,711 SH SOLE 118,711 0 0 DuPont COM 263534109 207 3,920 SH SOLE 3,920 0 0 Emerson Electric COM 291011104 4,134 79,234 SH SOLE 79,234 0 0 Exxon Mobil COM 30231g102 3,436 39,620 SH SOLE 39,620 0 0 Fifth Third Bancorp COM 316773100 281 20,000 SH SOLE 20,000 0 0 Financial Sector Index Fund SBI INT-FINL 81369y605 537 34,008 SH SOLE 34,008 0 0 FirstEnergy COM 337932107 1,568 34,400 SH SOLE 34,400 0 0 Ford Motor COM PAR $0.01 345370860 444 35,629 SH SOLE 35,629 0 0 Forest Laboratories COM 345838106 265 7,625 SH SOLE 7,625 0 0 General Electric COM 369604103 9,642 480,401 SH SOLE 480,401 0 0 General Mills COM 370334104 9,470 240,040 SH SOLE 240,040 0 0 Genuine Parts COM 372460105 2,758 43,951 SH SOLE 43,951 0 0 H.J. Heinz COM 423074103 2,536 47,356 SH SOLE 47,356 0 0 Hewlett Packard COM 428236103 620 26,010 SH SOLE 26,010 0 0 Home Depot COM 437076102 3,577 71,106 SH SOLE 71,106 0 0 Honeywell COM 438516106 6,773 110,941 SH SOLE 110,941 0 0 Hudson City Bancorp COM 443683107 908 124,081 SH SOLE 124,081 0 0 Huntington Bancshares COM 446150104 4,161 645,540 SH SOLE 645,540 0 0 IBM COM 459200101 5,554 26,621 SH SOLE 26,621 0 0 Illinois Tool Works COM 452308109 2,103 36,821 SH SOLE 36,821 0 0 Intel COM 458140100 9,745 346,630 SH SOLE 346,630 0 0 iShares DJ Select Dividend Ind DJ SEL DIV INX 464287168 1,760 31,452 SH SOLE 31,452 0 0 iShares iBoxx Bond Fund IBOXX INV CPBD 464287242 336 2,905 SH SOLE 2,905 0 0 iShares Japan Index Fund MSCI EAFE INDEX 464286848 188 18,500 SH SOLE 18,500 0 0 iShares MSCE EAFE Index Fund MSCI EMERG MKT 464287465 1,660 30,243 SH SOLE 30,243 0 0 iShares Russell 1000 Growth In RUSSELL1000GRW 464287614 2,087 31,582 SH SOLE 31,582 0 0
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ ---------------- --------- -------- ----------------- ---------- -------- ------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ ---- iShares Russell 1000 Value RUSSELL1000VAL 464287598 1,436 20,494 SH SOLE 20,494 0 0 iShares Russell 2000 Growth RUSL 2000 GROW 464287648 567 5,946 SH SOLE 5,946 0 0 iShares Russell 2000 Value Ind RUSL 2000 VALU 464287630 266 3,645 SH SOLE 3,645 0 0 iShares S&P 500 Growth Index S&P500 GRW 464287309 317 4,208 SH SOLE 4,208 0 0 iShares S&P 500 Value Index S&P 500 VALUE 464287408 1,449 22,309 SH SOLE 22,309 0 0 iShares TR Russell 2000 RUSSELL 2000 464287655 261 3,150 SH SOLE 3,150 0 0 iShares TR Russell MCP GR RUSSELL MCP GR 464287481 266 4,237 SH SOLE 4,237 0 0 iShares TR Russell MCP VL RUSSELL MCP VL 464287473 251 5,207 SH SOLE 5,207 0 0 Johnson & Johnson COM 478160104 12,077 183,103 SH SOLE 183,103 0 0 JPMorgan Chase COM 46625h100 14,198 308,776 SH SOLE 308,776 0 0 Kellogg COM 487836108 2,151 40,108 SH SOLE 40,108 0 0 Kimberly-Clark COM 494368103 3,409 46,139 SH SOLE 46,139 0 0 Kraft Foods COM 50075n104 7,265 191,126 SH SOLE 191,126 0 0 Leggett & Platt COM 524660107 9,012 391,674 SH SOLE 391,674 0 0 Liberty Media Corp LIB CAP COM A 530322106 307 3,479 SH SOLE 3,479 0 0 Lilly COM 532457108 1,574 39,090 SH SOLE 39,090 0 0 Lockheed Martin COM 539830109 3,312 36,853 SH SOLE 36,853 0 0 Lorillard COM 544147101 1,619 12,500 SH SOLE 12,500 0 0 M&T Bank COM 55261f104 9,495 109,287 SH SOLE 109,287 0 0 Mattel Inc. COM 577081102 176 5,230 SH SOLE 5,230 0 0 McDonald's COM 580135101 3,012 30,707 SH SOLE 30,707 0 0 Merck COM 58933Y105 3,100 80,726 SH SOLE 80,726 0 0 Microsoft COM 594918104 7,924 245,676 SH SOLE 245,676 0 0 MMM COM 88579Y101 1,848 20,717 SH SOLE 20,717 0 0 Morgan Stanley COM NEW 617446448 3,475 176,915 SH SOLE 176,915 0 0 National Oilwell Varco COM 637071101 271 3,416 SH SOLE 3,416 0 0 Norfolk Southern COM 655844108 2,461 37,383 SH SOLE 37,383 0 0 Nucor COM 670346105 3,123 72,723 SH SOLE 72,723 0 0 Oracle COM 68389X105 362 12,419 SH SOLE 12,419 0 0 Pall Corp COM 696429307 221 3,705 SH SOLE 3,705 0 0 Pepsico COM 713448108 2,471 37,236 SH SOLE 37,236 0 0 Pfizer COM 717081103 3,740 165,157 SH SOLE 165,157 0 0 PHH COM NEW 693320202 5,124 331,198 SH SOLE 331,198 0 0 Philip Morris COM 718172109 2,929 33,053 SH SOLE 33,053 0 0 PNC COM 693475105 2,736 42,431 SH SOLE 42,431 0 0 Powershares 2X Short Oil PS CRD OIL ETN 25154k809 327 8,630 SH SOLE 8,630 0 0 PowerShares DB Gold Double Sho DB GOLD FUND 25154h756 152 33,000 SH SOLE 33,000 0 0 PP&L Corp COM 69351t106 2,763 97,754 SH SOLE 97,754 0 0 PPG Industries COM 693506107 2,433 25,398 SH SOLE 25,398 0 0 Procter & Gamble COM 742718109 8,232 122,484 SH SOLE 122,484 0 0 PulteGroup COM 745867101 3,979 449,589 SH SOLE 449,589 0 0 Qualcomm Inc. COM 747525103 630 9,255 SH SOLE 9,255 0 0 Raytheon COM NEW 755111507 1,011 19,150 SH SOLE 19,150 0 0 S&P 500 Spiders TR UNIT 78462f103 888 6,310 SH SOLE 6,310 0 0 Sandisk Corp COM 80004c101 230 4,638 SH SOLE 4,638 0 0 Seagate Technology COM 052580676 256 9,492 SH SOLE 9,492 0 0 Southern Company COM 842587107 2,770 61,661 SH SOLE 61,661 0 0 SPDR Barclays Capital High Yie BARC CAP ETF 78464a417 376 9,550 SH SOLE 9,550 0 0 SPDR Gold Index Fund GOLD SHS 78463v107 548 3,380 SH SOLE 3,380 0 0 Synovus Financial COM 87161c105 697 340,000 SH SOLE 340,000 0 0 Sysco COM 871829107 2,534 84,852 SH SOLE 84,852 0 0 Taiwan Semiconductor COM 874039100 2,037 133,319 SH SOLE 133,319 0 0 TE Connectivity REG SHS H84989104 6,543 178,029 SH SOLE 178,029 0 0 Texas Instruments COM 882508104 1,979 58,871 SH SOLE 58,871 0 0 TJX Companies COM 872540109 258 6,490 SH SOLE 6,490 0 0 Toronto-Dominion Bank COM NEW 891160509 719 8,466 SH SOLE 8,466 0 0 Tupperware COM 899896104 657 10,350 SH SOLE 10,350 0 0 Tyco International SHS h89128104 419 7,466 SH SOLE 7,466 0 0 United Parcel Service - Cl B CL B 911312106 2,245 27,811 SH SOLE 27,811 0 0 Unitedhealth Group COM 91324p102 584 9,914 SH SOLE 9,914 0 0
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ ---------------- --------- -------- ----------------- ---------- -------- ------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ ---- Vanguard Mid Cap MID CAP ETF 922908629 3,415 41,863 SH SOLE 41,863 0 0 Vanguard MSCI EAFE MSCI EAFE ETF 921943858 205 6,010 SH SOLE 6,010 0 0 Vanguard MSCI Emerging Markets MSCI EMR MKT ETF 922042858 211 4,850 SH SOLE 4,850 0 0 Vanguard Small Cap SM CAP ETF 922908751 2,756 35,013 SH SOLE 35,013 0 0 Verizon Communications COM 92343v104 2,362 61,792 SH SOLE 61,792 0 0 Viacom Class B CL B 92553p201 7,611 160,377 SH SOLE 160,377 0 0 Wal-Mart COM 931142103 2,765 45,184 SH SOLE 45,184 0 0 Washington Federal COM 938824109 332 19,718 SH SOLE 19,718 0 0 Waste Management COM 94106l109 8,629 246,820 SH SOLE 246,820 0 0 Weatherford Intl REG SHS h27013103 219 14,530 SH SOLE 14,530 0 0 Wells Fargo COM 949746101 8,608 252,149 SH SOLE 252,149 0 0 WP Carey COM 92930y107 6,102 131,181 SH SOLE 131,181 0 0 Yum! Brands COM 988498101 214 3,000 SH SOLE 3,000 0 0 Zions Bancorp COM 989701107 1,220 56,850 SH SOLE 56,850 0 0 PHM Jan $15 Puts COM 745867951 -300 -500 SH PUT SOLE (500) 0 0 BAC Aug $8 Calls COM 060505904 196 1,000 SH CALL SOLE 1,000 0 0 MS 01/19/2013 $25 Calls COM 617446908 30 310 SH CALL SOLE 310 0 0 GS Jan 2013 $200 Calls COM 38141G904 6 348 SH CALL SOLE 348 0 0