13F-HR 1 d438710d13fhr.txt FORM 13F 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: 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: Senior Vice President - Investments Phone: (864) 250-9291 Signature, Place, and Date of Signing: Greenville, /s/ William R. Timmons, III South Carolina November 12, 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 Managers: None Form 13F Information Table Entry Total: 110 Form 13F Information Table Value Total: (thousands) 267,832 List of Other Included Managers: 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 9/30/2012
VOTING AUTHORITY TITLE OF MARKET VALUE SHARES/PAR INVESTMENT --------------------- NAME OF ISSUER CLASS CUSIP (1000'S) VALUE SH/PRN DISCRETION SOLE SHARED NONE --------------------------------- -------- ----------- ------------ ---------- ------ ---------- --------- ------ ---- AAR CORP 1.625% Corp Conv Bd BOND 000361-AK-1 1,915 2,000,000 PRN Sole 2,000,000 CERADYNE INC 2.875% Conv Corp Bd BOND 156710-AA-3 2,875 2,875,000 PRN Sole 2,875,000 COVANTA HOLDING 3.25% Conv Bd BOND 22282E-AC-6 1,211 1,000,000 PRN Sole 1,000,000 ENERSYS 3.375% Convertible Bond BOND 29275Y-AA-0 1,122 1,000,000 PRN Sole 1,000,000 LEUCADIA NATL 3.75% Conv Corp Bd BOND 527288-AX-2 1,341 1,190,000 PRN Sole 1,190,000 MEDICIS PHRM 2.50% Conv Corp Bd BOND 58470K-AA-2 1,494 1,000,000 PRN Sole 1,000,000 NUANCE COMMUNIC 2.75% Conv Bds BOND 67020Y-AB-6 1,334 1,000,000 PRN Sole 1,000,000 TRANSOCEAN INC 1.50% Conv Bd BOND 893830-AW-9 2,797 2,800,000 PRN Sole 2,800,000 VERTEX PHARM 3.35% Corp Bond BOND 92532F-AN-0 1,191 1,000,000 PRN Sole 1,000,000 AAR CORP COM 000361-10-5 453 30,000 SH Sole 30,000 ABBOTT LABORATORIES COM 002824-10-0 655 10,000 SH Sole 10,000 ADVANCED MICRO DEVICES INC. COM 007903-10-7 328 160,000 SH Sole 160,000 AGL RESOURCE INC. COM 001204-10-6 457 11,200 SH Sole 11,200 ALTRIA GROUP INC COM 02209S-10-3 191 6,000 SH Sole 6,000 ANADARKO PETROLEUM CORP COM 032511-10-7 5,505 80,000 SH Sole 80,000 APACHE CORP COM 037411-10-5 1,655 20,000 SH Sole 20,000 AT&T INC COM 00206R-10-2 346 10,000 SH Sole 10,000 BABCOCK & WILCOX CO New COM 05615F-10-2 1,289 50,000 SH Sole 50,000 BARD-C R-INC COM 067383-10-9 2,501 26,000 SH Sole 26,000 BAXTER INTERNATIONAL INC COM 071813-10-9 4,384 70,000 SH Sole 70,000 BECTON DICKINSON COM 075887-10-9 3,027 40,000 SH Sole 40,000 BRISTOL MYERS SQUIBB CO COM 110122-10-8 4,374 131,549 SH Sole 131,549 BROCADE COMMUNICATIONS SYSTEMS COM 111621-30-6 530 100,000 SH Sole 100,000 CAMPBELL SOUP CO COM 134429-10-9 1,411 40,000 SH Sole 40,000 CHEVRON CORP COM 166764-10-0 9,835 89,240 SH Sole 89,240 CISCO SYSTEMS COM 17275R-10-2 5,142 300,000 SH Sole 300,000 CONOCOPHILLIPS COM 20825C-10-4 7,231 125,000 SH Sole 125,000 CVS CAREMARK CORP COM 126650-10-0 1,392 30,000 SH Sole 30,000 DIREXION DAILY FINL BEAR ETF COM 25459W-14-4 2,083 120,000 SH Sole 120,000 DOMINION RESOURCES INC COM 25746U-10-9 1,822 34,528 SH Sole 34,528 DUKE ENERGY HOLDING CORPORATION COM 26441C-20-4 7,500 114,166 SH Sole 114,166 DUPONT DENEMOURS & CO COM 263534-10-9 935 21,000 SH Sole 21,000 ECHO GLOBAL LOGISTICS INC COM 27875T-10-1 116 6,900 SH Sole 6,900 EMC CORP COM 268648-10-2 4,922 201,553 SH Sole 201,553 ENGILITY HOLDINGS COM 29285W-10-4 32 1,666 SH Sole 1,666 EXCO RESOURCES INC COM 269279-40-2 177 21,900 SH Sole 21,900 EXXON MOBIL CORP COM 30231G-10-2 9,573 105,000 SH Sole 105,000 FLOWERS FOODS COM 343498-10-1 1,795 91,162 SH Sole 91,162 FLUOR CORP NEW COM 343412-10-2 2,234 40,000 SH Sole 40,000
FREEPORT MCMORAN COPPER & GOLD COM 35671D-85-7 1,739 44,740 SH Sole 44,740 GENERAL DYNAMICS CORPORATION COM 369550-10-8 1,362 20,000 SH Sole 20,000 GLOBAL PAYMENTS INC COM 37940X-10-2 2,309 54,000 SH Sole 54,000 GUIDEWIRE SOFTWARE INC COM 40171V-10-0 1,532 50,000 SH Sole 50,000 HARRIS CORP COM 413875-10-5 1,831 40,000 SH Sole 40,000 HEWLETT PACKARD COMPANY COM 428236-10-3 3,740 270,000 SH Sole 270,000 HOME DEPOT INC COM 437076-10-2 614 10,000 SH Sole 10,000 HORNBECK OFFSHORE SERVICES INC COM 440543-10-6 1,039 30,000 SH Sole 30,000 HUNTINGTON INGALLS INDUSTRIES COM 446413-10-6 393 9,285 SH Sole 9,285 ILLINOIS TOOL WORKS INC COM 452308-10-9 368 6,000 SH Sole 6,000 INTEL CORP COM 458140-10-0 2,163 100,000 SH Sole 100,000 INTERNATIONAL BUSINESS MACHS CORP COM 459200-10-1 16,146 83,000 SH Sole 83,000 JOHNSON & JOHNSON COM 478160-10-4 3,541 50,000 SH Sole 50,000 JPMORGAN CHASE & CO COM 46625H-10-0 834 20,000 SH Sole 20,000 KRAFT FOODS GROUP INC (KRFT) COM 50076Q-10-6 77 1,692 SH Sole 1,692 L-3 COMMUNICATIONS HLDGS COM 502424-10-4 738 10,000 SH Sole 10,000 LINCOLN NATIONAL CORP COM 534187-10-9 564 22,734 SH Sole 22,734 LOCKHEED MARTIN CORPORATION COM 539830-10-9 7,494 80,000 SH Sole 80,000 MCDERMOTT INTERNATIONAL INC COM 580037-10-9 2,142 200,000 SH Sole 200,000 MERCK & COMPANY New COM 58933Y-10-5 5,019 110,000 SH Sole 110,000 MICROSOFT CORP COM 594918-10-4 7,990 280,000 SH Sole 280,000 MONDELEZ INT'L INC COM 609207-10-5 210 5,076 SH Sole 5,076 MONSANTO COMPANY COM 61166W-10-1 881 10,234 SH Sole 10,234 NABORS INDUSTRIES LTD COM G6359F-10-3 486 36,000 SH Sole 36,000 NEWMONT MINING CORP COM 651639-10-6 3,685 67,561 SH Sole 67,561 NORTHROP GRUMMAN CORP COM 666807-10-2 3,827 55,712 SH Sole 55,712 NUANCE COMMUNICATIONS INC COM 67020Y-10-0 935 42,000 SH Sole 42,000 ORBITAL SCIENCES CORP COM 685564-10-6 1,122 83,700 SH Sole 83,700 PFIZER INC COM 717081-10-3 5,124 206,050 SH Sole 206,050 PHILIP MORRIS INTERNATIONAL COM 718172-10-9 266 3,000 SH Sole 3,000 PHILLIPS 66 COM 718546-10-4 2,948 62,500 SH Sole 62,500 PIEDMONT NATURAL GAS COMPANY INC COM 720186-10-5 8,629 265,674 SH Sole 265,674 POWERSHARES DB INDEX COMMODITY ETF COM 73935S-10-5 689 25,000 SH Sole 25,000 PROSHARES ULTRASHORT S&P 500 ETF COM 74347B-30-0 5,655 100,000 SH Sole 100,000 RAYTHEON CO COM 755111-50-7 7,551 133,500 SH Sole 133,500 SCANA CORP COM 80589M-10-2 2,258 46,000 SH Sole 46,000 SCANSOURCE INC. COM 806037-10-7 2,297 78,535 SH Sole 78,535 SCHLUMBERGER LTD COM 806857-10-8 5,632 81,000 SH Sole 81,000 SPECTRA ENERGY CORP COM 847560-10-9 4,475 155,000 SH Sole 155,000 TEXAS INSTRUMENTS INC COM 882508-10-4 1,405 50,000 SH Sole 50,000 THERMO FISHER SCIENTIFIC INC COM 883556-10-2 1,221 20,000 SH Sole 20,000 TORTOISE ENERGY INDEPENDENCE FD COM 89148K-10-1 988 40,000 SH Sole 40,000 TRANSOCEAN INC. COM H8817H-10-0 2,726 59,662 SH Sole 59,662 TRIMBLE NAVIGATIONS LTD COM 896239-10-0 1,415 30,000 SH Sole 30,000 UNITED TECHNOLOGIES CORP COM 913017-10-9 8,988 115,000 SH Sole 115,000 WILLIAMS COMPANIES COM 969457-10-0 5,598 160,000 SH Sole 160,000 WPX ENERGY INC COM 98212B-10-3 1,694 100,000 SH Sole 100,000 XEROX CORPORATION COM 984121-10-3 966 150,000 SH Sole 150,000 ZIMMER HOLDINGS INC COM 98956P-10-2 321 5,000 SH Sole 5,000 BARRICK GOLD CORP COM 067901-10-8 1,598 39,576 SH Sole 39,576
CANADIAN PACIFIC RAILWAY LTD COM 13645T-10-0 4,373 47,600 SH Sole 47,600 CENOVUS ENERGY INC COM 15135U-10-9 3,523 100,000 SH Sole 100,000 ENCANA CORPORATION COM 292505-10-4 2,585 114,900 SH Sole 114,900 BHP BILLITON LTD COM 088606-10-8 9,904 140,000 SH Sole 140,000 BP AMOCO P L C ADR COM 055622-10-4 3,956 92,240 SH Sole 92,240 COVIDIEN LTD COM G2554F-11-3 1,374 25,000 SH Sole 25,000 BHP BILLITON 70.0 CALL 17NOV12 CALLS 088606-10-8 -58.5 -30,000 SH Sole -30,000 BROCADE COMM 6.0 CALL 19JAN13 CALLS 111621-30-6 -17 -100,000 SH Sole -100,000 CISCO SYSTEM 19.0 CALL 17NOV12 CALLS 17275R-10-2 -3.3 -30,000 SH Sole -30,000 CVS CAREMARK 49.0 CALL 17NOV12 CALLS 126650-10-0 -0.5 -25,000 SH Sole -25,000 DIREXION DAI 18.0 CALL 17NOV12 CALLS 25459W-14-4 -46.4 -80,000 SH Sole -80,000 EMC CORP/MA 29.0 CALL 19JAN13 CALLS 268648-10-2 -1.12 -8,000 SH Sole -8,000 EXCO RESOURC 8.0 CALL 17NOV12 CALLS 269279-40-2 -7 -20,000 SH Sole -20,000 FREEPORT-MCM 43.0 CALL 17NOV12 CALLS 35671D-85-7 -2 -20,000 SH Sole -20,000 HEWLETT-PACK 20.0 CALL 17NOV12 CALLS 428236-10-3 -0.5 -50,000 SH Sole -50,000 HOME DEPOT I 60.0 CALL 19JAN13 CALLS 437076-10-2 -31.5 -10,000 SH Sole -10,000 INTEL CORP 23.0 CALL 17NOV12 CALLS 458140-10-0 -1.6 -40,000 SH Sole -40,000 JPMORGAN CHA 40.0 CALL 19JAN13 CALLS 46625H-10-0 -56.4 -20,000 SH Sole -20,000 NUANCE COMMU 27.0 CALL 19JAN13 CALLS 67020Y-10-0 -10.4 -40,000 SH Sole -40,000 RAYTHEON CO 57.5 CALL 17NOV12 CALLS 755111-50-7 -0.525 -1,500 SH Sole -1,500 WILLIAMS COS 37.0 CALL 19JAN13 CALLS 969457-10-0 -43.8 -40,000 SH Sole -40,000