13F-HR 1 sec13f063012.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2012 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: Trees Investment Counsel, LLC Address: 70 West Madison Street Suite 640 Chicago,IL 60602 13F File Number: 28-5659 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: M. Jay Trees Title: Chairman Phone: 312-368-1200 Signature, Place, and Date of Signing: M. Jay Trees, Chicago, 07/24/12 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 56 FORM 13F INFORMATION TABLE VALUE TOTAL: $113,836,819 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME FORM 13F INFORMATION TABLE AS OF DATE: 06/30/12 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M COMPANY COM COM 88579Y101 3460 38614 SH SOLE 1050 0 37564 AT&T INC (NEW) COM 00206R102 265 7421 SH SOLE 3600 0 3821 ABBOTT LABORATORIES COM 002824100 2551 39568 SH SOLE 0 0 39568 ACCENTURE PLC IRELAND COM G1151C101 3137 52204 SH SOLE 0 0 52204 AIR PRODUCTS & CHEMIC COM 009158106 1076 13334 SH SOLE 0 0 13334 ANGLO AMERN PLC ADR N COM 03485P201 1730 105645 SH SOLE 3700 0 101945 APACHE CORP COM 037411105 2184 24850 SH SOLE 800 0 24050 BERKSHIRE HATHAWAY IN COM 084670702 2717 32600 SH SOLE 950 0 31650 BLACKSTONE GROUP L P COM 09253U108 539 41233 SH SOLE 0 0 41233 BP PLC - ADR COM 055622104 544 13424 SH SOLE 0 0 13424 BSCH BANCO SANTANDER COM 05964H105 1473 224500 SH SOLE 8300 0 216200 BUNGE LIMITED COM COM G16962105 1751 27901 SH SOLE 0 0 27901 CENTRICA PLC SHS COM G2018Z143 549 110150 SH SOLE 0 0 110150 CENTRICA PLC (NEW) COM 15639K300 793 39762 SH SOLE 0 0 39762 CISCO SYSTEMS, INC COM 17275R102 1595 92900 SH SOLE 3700 0 89200 COCA COLA CO COM 191216100 238 3050 SH SOLE 1000 0 2050 DEERE & COMPANY COM 244199105 2054 25400 SH SOLE 1000 0 24400 DISNEY, WALT, COMPANY COM 254687106 2215 45666 SH SOLE 1900 0 43766 ECOLAB INC COM 278865100 2669 38943 SH SOLE 1700 0 37243 EXXON MOBIL CORPORATI COM 30231G102 3655 42719 SH SOLE 2350 0 40369 GENERAL ELECTRIC COMP COM 369604103 4332 207860 SH SOLE 2500 0 205360 GOLDCORP INC NEW COM COM 380956409 2235 59466 SH SOLE 1600 0 57866 ILLINOIS TOOL WORKS I COM 452308109 2711 51265 SH SOLE 1800 0 49465 INTEL CORP COM 458140100 2300 86304 SH SOLE 3700 0 82604 ISHARES TR MSCI EMERG ETF 464287234 2008 51300 SH SOLE 0 0 51300 J.P. MORGAN CHASE & C COM 46625H100 3186 89159 SH SOLE 2500 0 86659 JOHNSON & JOHNSON COM 478160104 2979 44097 SH SOLE 1500 0 42597 MDU RES GROUP INC COM COM 552690109 2061 95351 SH SOLE 4400 0 90951 MEDASSETS INC COM COM 584045108 242 18000 SH SOLE 0 0 18000 MERCK & COMPANY COM 58933Y105 706 16900 SH SOLE 0 0 16900 MICROSOFT CORP COM 594918104 708 23156 SH SOLE 4200 0 18956 NESTLE SA ADR COM 641069406 3911 65459 SH SOLE 1700 0 63759 NORTHERN EQUITY INDEX MUTUAL FUND 665130209 522 56345 SH SOLE 0 0 56345 NORTHERN EQUITY INDEX MUTUAL FUND 665130100 270 21585 SH SOLE 0 0 21585 NORTHERN FDS SML CAP MUTUAL FUND 665162723 145 16430 SH SOLE 0 0 16430 NORTHERN FDS STK INDE MUTUAL FUND 665162772 619 36619 SH SOLE 0 0 36619 NORTHERN TRUST CORPOR COM 665859104 2991 65000 SH SOLE 0 0 65000 NOVARTIS AG - ADR COM 66987V109 2208 39495 SH SOLE 1700 0 37795 OCCIDENTAL PETROLEUM COM 674599105 2400 27977 SH SOLE 400 0 27577 OMNICOM GROUP COM 681919106 2621 53921 SH SOLE 1900 0 52021 PEPSICO INC COM 713448108 3494 49442 SH SOLE 667 0 48775 PFIZER INC COM 717081103 2002 87032 SH SOLE 5000 0 82032 QUALCOMM INC COM 747525103 3078 55283 SH SOLE 600 0 54683 RAYONIER INC COM COM 754907103 202 4500 SH SOLE 0 0 4500 ROCKWELL COLLINS INC COM 774341101 2448 49595 SH SOLE 1600 0 47995 SCHLUMBERGER, LTD. COM 806857108 5206 80200 SH SOLE 1200 0 79000 SPDR S&P BIOTECH ETF COM 78464A870 3491 39458 SH SOLE 1600 0 37858 TALISMAN ENERGY INC COM 87425E103 2110 184100 SH SOLE 4500 0 179600 TEVA PHARMACEUTICAL I COM 881624209 1644 41677 SH SOLE 2250 0 39427 VANGUARD MSCI PACIFIC ETF 922042866 251 5000 SH SOLE 0 0 5000 VISA INC COM CL A COM 92826C839 3326 26906 SH SOLE 1150 0 25756 VODAFONE GROUP INC COM 92857W209 3094 109795 SH SOLE 0 0 109795 WAL MART STORES, INC. COM 931142103 420 6025 SH SOLE 2025 0 4000 WALGREEN CO COM 931422109 2040 68964 SH SOLE 2600 0 66364 WELLS FARGO NEW COM 949746101 3562 106515 SH SOLE 3200 0 103315 YUM BRANDS INC COM COM 988498101 3122 48461 SH SOLE 1700 0 46761