13F-HR 1 sec13f093012.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: September 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, 10/18/12 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: $119,255,667 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME FORM 13F INFORMATION TABLE AS OF DATE: 09/30/12 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 3467 37514 SH SOLE 1050 0 36464 AT&T INC (NEW) COM 00206R102 280 7421 SH SOLE 3600 0 3821 ABBOTT LABORATORIES COM 002824100 2713 39568 SH SOLE 0 0 39568 ACCENTURE PLC IRELAND COM G1151C101 3579 51104 SH SOLE 0 0 51104 AIR PRODUCTS & CHEMIC COM 009158106 1103 13334 SH SOLE 0 0 13334 ANGLO AMERN PLC ADR N COM 03485P201 1521 103645 SH SOLE 3700 0 99945 APACHE CORP COM 037411105 2097 24250 SH SOLE 800 0 23450 BERKSHIRE HATHAWAY IN COM 084670702 2814 31900 SH SOLE 950 0 30950 BLACKSTONE GROUP L P COM 09253U108 560 39233 SH SOLE 0 0 39233 BP PLC - ADR COM 055622104 569 13424 SH SOLE 0 0 13424 BUNGE LIMITED COM COM G16962105 1831 27301 SH SOLE 0 0 27301 CENTRICA PLC SHS COM G2018Z143 583 110150 SH SOLE 0 0 110150 CENTRICA PLC (NEW) COM 15639K300 770 36387 SH SOLE 0 0 36387 CISCO SYSTEMS, INC COM 17275R102 1707 89400 SH SOLE 3700 0 85700 COCA COLA CO COM 191216100 226 5950 SH SOLE 2000 0 3950 DEERE & COMPANY COM 244199105 2037 24700 SH SOLE 1000 0 23700 DISNEY, WALT, COMPANY COM 254687106 2314 44266 SH SOLE 1900 0 42366 ECOLAB INC COM 278865100 2459 37943 SH SOLE 1700 0 36243 EXXON MOBIL CORPORATI COM 30231G102 3757 41088 SH SOLE 2350 0 38738 GENERAL ELECTRIC COMP COM 369604103 4655 204960 SH SOLE 2500 0 202460 GOLDCORP INC NEW COM COM 380956409 2681 58466 SH SOLE 1600 0 56866 ILLINOIS TOOL WORKS I COM 452308109 2888 48565 SH SOLE 1800 0 46765 INTEL CORP COM 458140100 1896 83704 SH SOLE 3700 0 80004 ISHARES TR MSCI EMERG ETF 464287234 2046 49500 SH SOLE 0 0 49500 J.P. MORGAN CHASE & C COM 46625H100 3538 87403 SH SOLE 2500 0 84903 JOHNSON & JOHNSON COM 478160104 3011 43697 SH SOLE 1500 0 42197 MARKWEST ENERGY PARTN COM 570759100 2373 43600 SH SOLE 1600 0 42000 MDU RES GROUP INC COM COM 552690109 2064 93651 SH SOLE 4400 0 89251 MEDASSETS INC COM COM 584045108 231 13000 SH SOLE 0 0 13000 MERCK & COMPANY COM 58933Y105 762 16900 SH SOLE 0 0 16900 MICROSOFT CORP COM 594918104 689 23156 SH SOLE 4200 0 18956 NESTLE SA ADR COM 641069406 4031 63892 SH SOLE 1700 0 62192 NORTHERN EQUITY INDEX MUTUAL FUND 665130209 297 30054 SH SOLE 0 0 30054 NORTHERN EQUITY INDEX MUTUAL FUND 665130100 158 11978 SH SOLE 0 0 11978 NORTHERN FDS STK INDE MUTUAL FUND 665162772 349 19530 SH SOLE 0 0 19530 NORTHERN TRUST CORPOR COM 665859104 3017 65000 SH SOLE 0 0 65000 NOVARTIS AG - ADR COM 66987V109 2321 37884 SH SOLE 1700 0 36184 OCCIDENTAL PETROLEUM COM 674599105 2365 27477 SH SOLE 400 0 27077 OMNICOM GROUP COM 681919106 2693 52221 SH SOLE 1900 0 50321 ORACLE CORPORATION COM 68389X105 2369 75300 SH SOLE 1500 0 73800 PEPSICO INC COM 713448108 3386 47842 SH SOLE 667 0 47175 PFIZER INC COM 717081103 2048 82432 SH SOLE 5000 0 77432 QUALCOMM INC COM 747525103 3347 53583 SH SOLE 600 0 52983 RAYONIER INC COM COM 754907103 221 4500 SH SOLE 0 0 4500 ROCKWELL COLLINS INC COM 774341101 2445 45589 SH SOLE 1600 0 43989 SCHLUMBERGER, LTD. COM 806857108 5729 79200 SH SOLE 1200 0 78000 SPDR S&P BIOTECH ETF COM 78464A870 3602 38558 SH SOLE 1600 0 36958 TALISMAN ENERGY INC COM 87425E103 1879 141100 SH SOLE 1800 0 139300 TEVA PHARMACEUTICAL I COM 881624209 1676 40477 SH SOLE 2250 0 38227 VANGUARD MSCI PACIFIC ETF 922042866 252 5000 SH SOLE 0 0 5000 VISA INC COM CL A COM 92826C839 3532 26306 SH SOLE 1150 0 25156 VODAFONE GROUP INC COM 92857W209 3029 106284 SH SOLE 0 0 106284 WAL MART STORES, INC. COM 931142103 371 5025 SH SOLE 2025 0 3000 WALGREEN CO COM 931422109 2213 60737 SH SOLE 1700 0 59037 WELLS FARGO NEW COM 949746101 3581 103715 SH SOLE 3200 0 100515 YUM BRANDS INC COM COM 988498101 3125 47105 SH SOLE 1700 0 45405