13F-HR 1 final2ndqtr2012.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: 6/30/12 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: Grimes & Company, Inc. Address: 110 Turnpike Road, Suite 100 Westborough, MA 01581 Form 13F File Number: 28-11551 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: Gerald S. Connolly Title: CCO Phone: 508-366-3883 Signature, Place, and Date of Signing: Gerald S. Connolly Westborough, MA 01581 8/8/12 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: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28-__________________ ________________________________________________ FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13FInformation Table Entry Total: 155 Form 13F Information Table Value Total(thousands): 217269 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. [If there are no entries in this list, state NONE and omit the column headings and list entries.] No. Form 13F File Number Name 28-________________________ Form 13F INFORMATION TABLE Name CLASS CUSIP Value AMT TYPE Inv. Other Voting 3M Company COM 88579Y101 5044 56298 SH SOLE 0 SOLE 3M Company COM 88579Y101 11 120 SH OTHER 0 SOLE Abbott Laboratories COM 002824100 4755 73748 SH SOLE 0 SOLE Accenture Ltd COM G1151C101 5044 83935 SH SOLE 0 SOLE Activision Blizzard COM 00507V109 1900 158485 SH SOLE 0 SOLE Aethlon Medical Inc. COM 4 50000 SH SOLE 0 SOLE Alcoa Inc. COM 013817101 88 10000 SH SOLE 0 SOLE Altria Group, Inc COM 02209S103 448 12964 SH SOLE 0 SOLE Altria Group, Inc COM 02209S103 15 440 SH OTHER 0 SOLE American Express Co COM 025816109 543 9322 SH SOLE 0 SOLE Apple Computer Inc. COM 037833100 2258 3866 SH SOLE 0 SOLE Apple Computer Inc. COM 037833100 1975 3381 SH OTHER 0 SOLE Astrazeneca PLC (ADR) COM 046353108 3772 84283 SH SOLE 0 SOLE Astrazeneca PLC (ADR) COM 046353108 39 870 SH OTHER 0 SOLE AT&T Inc. Com COM 00206R102 659 18480 SH SOLE 0 SOLE AT&T Inc. Com COM 00206R102 50 1405 SH OTHER 0 SOLE Bank of America Corp. COM 060505104 244 29774 SH SOLE 0 SOLE Bank of America Corp. COM 060505104 131 16034 SH OTHER 0 SOLE Beam Inc. COM 219 3500 SH SOLE 0 SOLE Berkshire Hathaway A COM 084670108 250 2 SH OTHER 0 SOLE Berkshire Hathaway A COM 084670108 375 3 SH SOLE 0 SOLE Berkshire Hathaway B COM 084670207 1099 13183 SH SOLE 0 SOLE Berkshire Hathaway B COM 084670207 104 1250 SH OTHER 0 SOLE BlackRock, Inc. COM 09247X101 3627 21360 SH SOLE 0 SOLE BlackRock, Inc. COM 09247X101 2 9 SH OTHER 0 SOLE Boeing Co COM 097023105 4154 55913 SH SOLE 0 SOLE Boeing Co COM 097023105 14 186 SH OTHER 0 SOLE BroadSoft, Inc. COM 707 24406 SH SOLE 0 SOLE CH Robinson Worldwide COM 12541W209 2144 36630 SH SOLE 0 SOLE Check Point Software COM M22465104 211 4250 SH SOLE 0 SOLE Check Point Software COM M22465104 4 72 SH OTHER 0 SOLE ChevronTexaco Corp COM 166764100 558 5293 SH SOLE 0 SOLE ChevronTexaco Corp COM 166764100 14 135 SH OTHER 0 SOLE Chicago Mercantile Exch COM 12572Q105 3896 14530 SH SOLE 0 SOLE Cisco Systems, Inc. COM 17275R102 3218 187418 SH SOLE 0 SOLE Cisco Systems, Inc. COM 17275R102 5 300 SH OTHER 0 SOLE Coca-Cola Company COM 191216100 600 7674 SH SOLE 0 SOLE Coca-Cola Company COM 191216100 52 670 SH OTHER 0 SOLE Colgate-Palmolive Co COM 194162103 301 2890 SH SOLE 0 SOLE Curis, Inc. COM 231269101 92 17000 SH SOLE 0 SOLE Direct TV Group COM 25459L106 2462 50423 SH SOLE 0 SOLE Direct TV Group COM 25459L106 2 51 SH OTHER 0 SOLE Dominion Resources COM 25746U109 443 8209 SH SOLE 0 SOLE Dominion Resources COM 25746U109 11 200 SH OTHER 0 SOLE Dr Pepper Snapple Grp COM 4196 95900 SH SOLE 0 SOLE Duke Energy Corporation COM 26441C105 379 16450 SH SOLE 0 SOLE EI du Pont de Nem C COM 263534109 4673 92403 SH SOLE 0 SOLE EI du Pont de Nem C COM 263534109 10 190 SH OTHER 0 SOLE Eaton Vance Corp. COM 278265103 216 8000 SH SOLE 0 SOLE Eaton Vance Corp. COM 278265103 31 1140 SH OTHER 0 SOLE Elan Corporation, plc COM 284131208 75 5150 SH SOLE 0 SOLE Elan Corporation, plc COM 284131208 145 9961 SH OTHER 0 SOLE EMC Corporation COM 268648102 3729 145504 SH SOLE 0 SOLE Emerson Electric Co. COM 291011104 3115 66866 SH SOLE 0 SOLE ENSCO International COM 26874Q100 3230 68773 SH SOLE 0 SOLE Exelon Corporation COM 30161N101 217 5756 SH SOLE 0 SOLE Exxon Mobil Corp COM 30231G102 5024 58711 SH SOLE 0 SOLE Exxon Mobil Corp COM 30231G102 320 3735 SH OTHER 0 SOLE Ford Motor Company COM 345370860 132 13813 SH SOLE 0 SOLE General Electric Co COM 369604103 2402 115279 SH SOLE 0 SOLE General Electric Co COM 369604103 63 3043 SH OTHER 0 SOLE Genpact Ltd. COM G3922B107 2116 127250 SH SOLE 0 SOLE Global Payments Inc. COM 1748 40430 SH SOLE 0 SOLE Google COM 38259P508 3668 6324 SH SOLE 0 SOLE Google COM 38259P508 45 77 SH OTHER 0 SOLE Hudson Valley Holding COM 638 35256 SH OTHER 0 SOLE IDEXX Laboratories COM 45168D104 365 3800 SH SOLE 0 SOLE Infosys Technologies COM 456788108 2239 49698 SH SOLE 0 SOLE Ingersoll-Rand Co Ltd COM G47791101 627 14860 SH SOLE 0 SOLE Intel Corporation COM 458140100 6262 234982 SH SOLE 0 SOLE Intel Corporation COM 458140100 19 700 SH OTHER 0 SOLE Intl Business Machine COM 459200101 10325 52789 SH SOLE 0 SOLE Intl Business Machine COM 459200101 3 15 SH OTHER 0 SOLE J.P. Morgan Chase COM 46625H100 364 10195 SH SOLE 0 SOLE J.P. Morgan Chase COM 46625H100 7 185 SH OTHER 0 SOLE Johnson & Johnson COM 478160104 1110 16424 SH SOLE 0 SOLE Johnson & Johnson COM 478160104 355 5254 SH OTHER 0 SOLE Kellogg Company COM 487836108 4684 94942 SH SOLE 0 SOLE Kimberly-Clark Corp COM 494368103 385 4591 SH SOLE 0 SOLE Kimberly-Clark Corp COM 494368103 13 150 SH OTHER 0 SOLE Manulife Finl Corp COM 56501R106 111 10168 SH SOLE 0 SOLE Manulife Finl Corp COM 56501R106 141 12984 SH OTHER 0 SOLE McDonald's Corporation COM 580135101 903 10197 SH SOLE 0 SOLE McDonald's Corporation COM 580135101 3 36 SH OTHER 0 SOLE Medtronic, Inc. COM 585055106 3530 91142 SH SOLE 0 SOLE Medtronic, Inc. COM 585055106 1 29 SH OTHER 0 SOLE Microsoft Corporation COM 594918104 771 25215 SH SOLE 0 SOLE Microsoft Corporation COM 594918104 110 3603 SH OTHER 0 SOLE National-Oilwell Varco COM 637071101 1559 24196 SH SOLE 0 SOLE Nestle S.A. COM 641069406 155 2600 SH SOLE 0 SOLE Nestle S.A. COM 641069406 113 1888 SH OTHER 0 SOLE NY Community Bancorp COM 649445103 322 25662 SH SOLE 0 SOLE NextEra Energy, Inc. COM 220 3192 SH SOLE 0 SOLE NextEra Energy, Inc. COM 14 200 SH OTHER 0 SOLE Northeast Utilities Sys COM 284 7309 SH SOLE 0 SOLE Novartis AG COM 66987V109 3775 67527 SH SOLE 0 SOLE Novartis AG COM 66987V109 74 1320 SH OTHER 0 SOLE Occidental Petroleum COM 674599105 225 2628 SH SOLE 0 SOLE Occidental Petroleum COM 674599105 125 1459 SH OTHER 0 SOLE Oracle Corporation COM 68389X105 3590 120868 SH SOLE 0 SOLE Oracle Corporation COM 68389X105 58 1950 SH OTHER 0 SOLE Paychex, Inc. COM 704326107 4302 136957 SH SOLE 0 SOLE Paychex, Inc. COM 704326107 59 1890 SH OTHER 0 SOLE PepsiCo, Inc. COM 713448108 4745 67148 SH SOLE 0 SOLE Pfizer Inc COM 717081103 924 40181 SH SOLE 0 SOLE Philip Morris Intl COM 718172109 817 9360 SH SOLE 0 SOLE Philip Morris Intl COM 718172109 16 180 SH OTHER 0 SOLE Procter & Gamble Co COM 742718109 1220 19912 SH SOLE 0 SOLE QUALCOMM Inc COM 747525103 4804 86274 SH SOLE 0 SOLE QUALCOMM Inc COM 747525103 54 970 SH OTHER 0 SOLE ResMed Inc. COM 761152107 2252 72175 SH SOLE 0 SOLE Royal Dutch Pet(ADR) COM 780259206 270 4010 SH SOLE 0 SOLE Sasol Limited COM 803866300 3077 72488 SH SOLE 0 SOLE Scripps Networks Int COM 2953 51942 SH SOLE 0 SOLE Smith & Nephew PLC COM 83175M205 2273 45469 SH SOLE 0 SOLE Southern Company COM 842587107 331 7158 SH SOLE 0 SOLE St. Jude Medical COM 790849103 1661 41607 SH SOLE 0 SOLE Sunovia Energy Tech I COM 1 20000 SH SOLE 0 SOLE Superior Energy Serv COM 868157108 1641 81125 SH SOLE 0 SOLE Target Corporation COM 87612E106 3828 65780 SH SOLE 0 SOLE Teva Pharmaceutical COM 881624209 3178 80566 SH SOLE 0 SOLE Texas Instruments COM 882508104 275 9571 SH SOLE 0 SOLE Texas Instruments COM 882508104 6 200 SH OTHER 0 SOLE The Hanover Ins Grp I COM 410867105 59 1500 SH SOLE 0 SOLE The Hanover Ins Grp I COM 410867105 1120 28632 SH OTHER 0 SOLE The Tor-Dom Bank USA COM 891160509 1262 16129 SH SOLE 0 SOLE The Tor-Dom Bank USA COM 891160509 173 2212 SH OTHER 0 SOLE Thomson Reuters Corp. COM 89579K109 3464 121748 SH SOLE 0 SOLE Tivus, Inc. COM 0 1108000 SH SOLE 0 SOLE Treasury Wine Estate COM 66 14905 SH OTHER 0 SOLE Tupperware Corp COM 3505 64000 SH SOLE 0 SOLE U.S. Bancorp COM 902973304 868 26980 SH OTHER 0 SOLE United Financial Banc COM 91030T109 18 1238 SH SOLE 0 SOLE United Financial Banc COM 91030T109 189 13140 SH OTHER 0 SOLE United Parcel Service COM 911312106 4063 51588 SH SOLE 0 SOLE United Parcel Service COM 911312106 2 21 SH OTHER 0 SOLE United Technologies COM 913017109 4617 61133 SH SOLE 0 SOLE United Therapeutics COM 1 30 SH OTHER 0 SOLE Verizon Communications COM 92343V104 5034 113274 SH SOLE 0 SOLE Verizon Communications COM 92343V104 14 325 SH OTHER 0 SOLE Vodafone Group PLC COM 92857W209 4210 149383 SH SOLE 0 SOLE Vodafone Group PLC COM 92857W209 86 3060 SH OTHER 0 SOLE W.R. Berkley Corp COM 234 6000 SH SOLE 0 SOLE Wal-Mart Stores, Inc. COM 931142103 4921 70585 SH SOLE 0 SOLE Walt Disney Company COM 254687106 380 7831 SH SOLE 0 SOLE Walt Disney Company COM 254687106 4 87 SH OTHER 0 SOLE Waste Management Inc. COM 939322103 3527 105599 SH SOLE 0 SOLE Western Digital Corp. COM 958102105 1769 58042 SH SOLE 0 SOLE Western Union COM 959802109 2882 171144 SH SOLE 0 SOLE Western Union COM 959802109 50 2970 SH OTHER 0 SOLE WorldGate Comm COM 98156L307 0 4887 SH SOLE 0 SOLE WorldGate Comm COM 0 159718 SH OTHER 0 SOLE Xilinx, Inc. COM 983919101 3476 103545 SH SOLE 0 SOLE Xilinx, Inc. COM 983919101 19 576 SH OTHER 0 SOLE Xylem Com Stock New COM 2017 80140 SH SOLE 0 SOLE