13F-HR 1 d350252d13fhr.txt 13F-HR 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, 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: Canal Insurance Co. Address: P.O. Box 7 Greenville, SC 29602 Form 13F File Number: 28-11026 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 al required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Rick Timmons Title: Secretary, Treasurer & Senior Vice President - Investments Phone: (864) 250-9291 Signature, Place, and Date of Signing: Greenville, /s/ William R. Timmons, III South Carolina May 9, 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).) Number of Other Included Mangers: None Form 13F Information Table Entry Total: 102 Form 13F Information Table Value Total: (thousands) 266,347 List of Other Included Mangers: None Provide a numbered list of the name(s) and Form 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 CANAL INSURANCE COMPANY AND CANAL INDEMNITY COMPANY SEC 13-F as of 3/31/2012
VOTING AUTHORITY TITLE OF MARKET VALUE SHARES/PAR INVESTMENT --------------------- NAME OF ISSUER CLASS CUSIP (1000'S) VALUE SH/PRN DISCRETION SOLE SHARED NONE --------------------------------- -------- ----------- ------------ ---------- ------ ---------- --------- ------ ---- AMERIGROUP CORP 2.00% Conv Bond BOND 03073T-AB-8 2,530 1,600,000 PRN Sole 1,600,000 CERADYNE INC 2.875% Conv Corp Bd BOND 156710-AA-3 2,875 2,875,000 PRN Sole 2,875,000 ENERSYS 3.375% Convertible Bond BOND 29275Y-AA-0 1,163 1,000,000 PRN Sole 1,000,000 LEUCADIA NATL 3.75% Conv Corp Bd BOND 527288-AX-2 1,499 1,190,000 PRN Sole 1,190,000 MEDICIS PHRM 2.50% Conv Corp Bd BOND 58470K-AA-2 1,325 1,000,000 PRN Sole 1,000,000 NUANCE COMMUNIC 2.75% Conv Bds BOND 67020Y-AB-6 1,456 1,000,000 PRN Sole 1,000,000 TRANSOCEAN INC 1.50% Conv Bd BOND 893830-AW-9 2,772 2,800,000 PRN Sole 2,800,000 VERTEX PHARM 3.35% Corp Bond BOND 92532F-AN-0 1,146 1,000,000 PRN Sole 1,000,000 AAR CORP COM 000361-10-5 183 10,000 SH Sole 10,000 AGL RESOURCE INC. COM 001204-10-6 439 11,200 SH Sole 11,200 AT&T INC COM 00206R-10-2 312 10,000 SH Sole 10,000 ABBOTT LABORATORIES COM 002824-10-0 613 10,000 SH Sole 10,000 ADVANCED MICRO DEVICES INC. COM 007903-10-7 642 80,000 SH Sole 80,000 ALTRIA GROUP INC COM 02209S-10-3 185 6,000 SH Sole 6,000 ANADARKO PETROLEUM CORP COM 032511-10-7 6,267 80,000 SH Sole 80,000 APACHE CORP COM 037411-10-5 2,009 20,000 SH Sole 20,000 BP AMOCO P L C ADR COM 055622-10-4 4,151 92,240 SH Sole 92,240 BABCOCK & WILCOX CO New COM 05615F-10-2 1,288 50,000 SH Sole 50,000 BARD-C R-INC COM 067383-10-9 2,567 26,000 SH Sole 26,000 BARRICK GOLD CORP COM 067901-10-8 1,716 39,576 SH Sole 39,576 BAXTER INTERNATIONAL INC COM 071813-10-9 4,185 70,000 SH Sole 70,000 BECTON DICKINSON COM 075887-10-9 3,106 40,000 SH Sole 40,000 BHP BILLITON LTD COM 088606-10-8 8,688 120,000 SH Sole 120,000 BRISTOL MYERS SQUIBB CO COM 110122-10-8 4,440 131,549 SH Sole 131,549 BROCADE COMMUNICATIONS SYSTEMS COM 111621-30-6 575 100,000 SH Sole 100,000 CVS CAREMARK CORP COM 126650-10-0 1,344 30,000 SH Sole 30,000 CAMPBELL SOUP CO COM 134429-10-9 1,354 40,000 SH Sole 40,000 CANADIAN PACIFIC RAILWAY LTD COM 13645T-10-0 3,604 47,600 SH Sole 47,600 CENOVUS ENERGY INC COM 15135U-10-9 3,590 100,000 SH Sole 100,000 CHEVRON CORP COM 166764-10-0 9,570 89,240 SH Sole 89,240 CISCO SYSTEMS COM 17275R-10-2 5,922 280,000 SH Sole 280,000 CONOCOPHILLIPS COM 20825C-10-4 9,501 125,000 SH Sole 125,000 DIREXION DAILY FINL BEAR ETF COM 25459W-14-4 2,478 120,000 SH Sole 120,000 DOMINION RESOURCES INC COM 25746U-10-9 1,768 34,528 SH Sole 34,528 DUPONT DENEMOURS & CO COM 263534-10-9 1,111 21,000 SH Sole 21,000 DUKE ENERGY HOLDING CORPORATION COM 26441C-10-5 5,000 238,000 SH Sole 238,000
EMC CORP COM 268648-10-2 4,528 151,553 SH Sole 151,553 ECHO GLOBAL LOGISTICS INC COM 27875T-10-1 111 6,900 SH Sole 6,900 ENCANA CORPORATION COM 292505-10-4 1,959 100,000 SH Sole 100,000 EXXON MOBIL CORP COM 30231G-10-2 9,107 105,000 SH Sole 105,000 FLUOR CORP NEW COM 343412-10-2 2,402 40,000 SH Sole 40,000 FLOWERS FOODS COM 343498-10-1 1,857 91,162 SH Sole 91,162 FREEPORT MCMORAN COPPER & GOLD COM 35671D-85-7 941 24,740 SH Sole 24,740 GENERAL DYNAMICS CORPORATION COM 369550-10-8 1,468 20,000 SH Sole 20,000 GLOBAL PAYMENTS INC COM 37940X-10-2 2,563 54,000 SH Sole 54,000 GUIDEWIRE SOFTWARE INC COM 40171V-10-0 1,539 50,000 SH Sole 50,000 HARRIS CORP COM 413875-10-5 1,803 40,000 SH Sole 40,000 HEWLETT PACKARD COMPANY COM 428236-10-3 3,575 150,000 SH Sole 150,000 HOME DEPOT INC COM 437076-10-2 2,012 40,000 SH Sole 40,000 HORNBECK OFFSHORE SERVICES INC COM 440543-10-6 1,261 30,000 SH Sole 30,000 HUNTINGTON INGALLS INDUSTRIES COM 446413-10-6 374 9,285 SH Sole 9,285 ILLINOIS TOOL WORKS INC COM 452308-10-9 343 6,000 SH Sole 6,000 INTEL CORP COM 458140-10-0 1,687 60,000 SH Sole 60,000 INTERNATIONAL BUSINESS MACHS CORP COM 459200-10-1 17,318 83,000 SH Sole 83,000 JOHNSON & JOHNSON COM 478160-10-4 6,596 100,000 SH Sole 100,000 KRAFT FOODS INC COM 50075N-10-4 193 5,076 SH Sole 5,076 L-3 COMMUNICATIONS HLDGS COM 502424-10-4 708 10,000 SH Sole 10,000 LINCOLN NATIONAL CORP COM 534187-10-9 599 22,734 SH Sole 22,734 LOCKHEED MARTIN CORPORATION COM 539830-10-9 7,189 80,000 SH Sole 80,000 MCDERMOTT INTERNATIONAL INC COM 580037-10-9 2,562 200,000 SH Sole 200,000 MERCK & COMPANY New COM 58933Y-10-5 4,224 110,000 SH Sole 110,000 MICROSOFT CORP COM 594918-10-4 9,030 280,000 SH Sole 280,000 MONSANTO COMPANY COM 61166W-10-1 816 10,234 SH Sole 10,234 NEWMONT MINING CORP COM 651639-10-6 3,464 67,561 SH Sole 67,561 NORTHROP GRUMMAN CORP COM 666807-10-2 3,403 55,712 SH Sole 55,712 NUANCE COMMUNICATIONS INC COM 67020Y-10-0 51 2,000 SH Sole 2,000 ORBITAL SCIENCES CORP COM 685564-10-6 1,101 83,700 SH Sole 83,700 PFIZER INC COM 717081-10-3 4,669 206,050 SH Sole 206,050 PHILIP MORRIS INTERNATIONAL COM 718172-10-9 266 3,000 SH Sole 3,000 PIEDMONT NATURAL GAS COMPANY INC COM 720186-10-5 8,008 257,738 SH Sole 257,738 POWERSHARES DB INDEX COMMODITY ETF COM 73935S-10-5 720 25,000 SH Sole 25,000 PROGRESS ENERGY INC COM 743263-10-5 2,124 40,000 SH Sole 40,000 ULTRASHORT S&P 500 PROSHARES ETF COM 74347R-88-3 6,036 400,000 SH Sole 400,000 RAYTHEON CO COM 755111-50-7 7,046 133,500 SH Sole 133,500 SCANA CORP COM 80589M-10-2 2,098 46,000 SH Sole 46,000 SCANSOURCE INC. COM 806037-10-7 2,931 78,535 SH Sole 78,535 SCHLUMBERGER LTD COM 806857-10-8 5,664 81,000 SH Sole 81,000 SPECTRA ENERGY CORP COM 847560-10-9 4,890 155,000 SH Sole 155,000 TEXAS INSTRUMENTS INC COM 882508-10-4 1,681 50,000 SH Sole 50,000 THERMO FISHER SCIENTIFIC INC COM 883556-10-2 1,128 20,000 SH Sole 20,000 TRIMBLE NAVIGATIONS LTD COM 896239-10-0 1,633 30,000 SH Sole 30,000 UNITED TECHNOLOGIES CORP COM 913017-10-9 9,538 115,000 SH Sole 115,000 VERTEX PHARMACEUTICALS COM 92532F-10-0 820 20,000 SH Sole 20,000
WILLIAMS COMPANIES COM 969457-10-0 4,930 160,000 SH Sole 160,000 WPX ENERGY INC COM 98212B-10-3 1,801 100,000 SH Sole 100,000 XEROX CORPORATION COM 984121-10-3 1,212 150,000 SH Sole 150,000 ZIMMER HOLDINGS INC COM 98956P-10-2 321 5,000 SH Sole 5,000 COVIDIEN LTD COM G2554F-11-3 1,367 25,000 SH Sole 25,000 NABORS INDUSTRIES LTD COM G6359F-10-3 630 36,000 SH Sole 36,000 TRANSOCEAN INC. COM H8817H-10-0 1,312 23,992 SH Sole 23,992 ADVANCED MICRO DEVICES INC. 07/21/12 CALLS CALLS 007903-10-7 (30) -40,000 SH Sole -40,000 BHP BILLITON LTD 05/19/12 CALLS CALLS 088606-10-8 (1) -20,000 SH Sole -20,000 BROCADE COMMUNICATIONS SYSTEMS 04/21/12 CALLS CALLS 111621-30-6 (8) -100,000 SH Sole -100,000 CISCO SYSTEMS 06/16/12 CALLS CALLS 17275R-10-2 (91) -60,000 SH Sole -60,000 CVS CAREMARK CORP 05/19/12 CALLS CALLS 126650-10-0 (74) -30,000 SH Sole -30,000 EMC CORP 04/21/12 CALLS CALLS 268648-10-2 (35) -50,000 SH Sole -50,000 HOME DEPOT INC 05/19/12 CALLS CALLS 437076-10-2 (132) -30,000 SH Sole -30,000 JOHNSON & JOHNSON 07/21/12 CALLS CALLS 478160-10-4 (56) -30,000 SH Sole -30,000 MCDERMOTT INTERNATIONAL INC 05/19/12 CALLS CALLS 580037-10-9 (32) -80,000 SH Sole -80,000 RAYTHEON CO 05/19/12 CALLS CALLS 755111-50-7 (37) -30,000 SH Sole -30,000 TRANSOCEAN INC. 08/18/12 CALLS CALLS H8817H-10-0 (56) -20,000 SH Sole -20,000 VERTEX PHARMACEUTICALS 07/21/12 CALLS CALLS 92532F-10-0 (82) -20,000 SH Sole -20,000 266,347