0001140361-13-007019.txt : 20130214
0001140361-13-007019.hdr.sgml : 20130214
20130214140755
ACCESSION NUMBER: 0001140361-13-007019
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20121231
FILED AS OF DATE: 20130214
DATE AS OF CHANGE: 20130214
EFFECTIVENESS DATE: 20130214
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: McAdams Wright Ragen, Inc.
CENTRAL INDEX KEY: 0001456685
IRS NUMBER: 911920002
STATE OF INCORPORATION: WA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-13472
FILM NUMBER: 13611351
BUSINESS ADDRESS:
STREET 1: 925 FOURTH AVENUE
STREET 2: SUITE 3900
CITY: SEATTLE
STATE: WA
ZIP: 98103
BUSINESS PHONE: 206.664.8850
MAIL ADDRESS:
STREET 1: 925 FOURTH AVENUE
STREET 2: SUITE 3900
CITY: SEATTLE
STATE: WA
ZIP: 98103
13F-HR
1
form13fhr.txt
NONE
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 12/31/2012
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: McAdams Wright Ragen, Inc.
Address: 925 Fourth Avenue, Suite 3900
Seattle, WA 98104
Form 13F File Number: 028-13472
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 submission.
Persons Signing this Report on Behalf of Reporting Manager:
Name: Alicia Guagliardo
Title: Chief Compliance Officer
Phone: 206-664-8865
Signature, Place, and Date of Signing:
/s/ Alicia Guagliardo Seattle, WA 2/14/2013
--------------------------------- --------------------------------- ----------
[Signature] [City, State] [Date]
Report Type (Check only one):
[ ] 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).)
[X] 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:
13F File Number Name
29-06910 Ken Roberts Investment Management Inc.
--------------- ---------------------------------------------------------------
28-13411 Envestnet Asset Management Inc.
--------------- ---------------------------------------------------------------
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 299
Form 13F Information Table Value Total: $ 1,079,079
--------------
(In Thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and 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
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
------------------------ -------------- --------- -------- ----------------- ---------- -------- -------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ---- ------ -------
APPLE INC COM 37833100 17070 32077 SOLE 0 0 32077
ABB LTD ADR EACH COM 375204 30186 1451927 SOLE 0 0 1451927
ABBOTT LABORATORIES COM 2824100 7818 119358 SOLE 0 0 119358
BARRICK GOLD CORP COM 67901108 3913 111764 SOLE 0 0 111764
ADOBE SYS INC COM 00724F101 224 5935 SOLE 0 0 5935
ARCHER DANIELS COM 39483102 220 8021 SOLE 0 0 8021
AUTOMATIC DATA COM 53015103 5597 98311 SOLE 0 0 98311
AMERICAN ELEC PWR CO COM 25537101 224 5244 SOLE 0 0 5244
AFLAC INC COM 1055102 355 6674 SOLE 0 0 6674
ISHARES CORE COM 464287226 5090 45821 SOLE 0 0 45821
ALLIANCE HLDGS GP Units 01861G100 268 5625 SOLE 0 0 5625
APPLIED MATERIALS COM 38222105 196 17100 SOLE 0 0 17100
AMGEN INC COM 31162100 2735 31728 SOLE 0 0 31728
AMARIN CORP ADR EACH COM 23111206 83 10250 SOLE 0 0 10250
AMAZON.COM INC COM 23135106 3164 12612 SOLE 0 0 12612
ANN INC COM 35623107 206 6100 SOLE 0 0 6100
APACHE CORP COM 37411105 281 3581 SOLE 0 0 3581
ANADARKO PETE CORP COM 32511107 268 3613 SOLE 0 0 3613
MORGAN STANLEY ASIA COM 61744U106 816 54477 SOLE 0 0 54477
ALLIANCE RESOURCE Units 01877R108 1073 18480 SOLE 0 0 18480
ARENA PHARMACEUTICAL COM 40047102 90 10000 SOLE 0 0 10000
ARMOUR RESIDENTIAL Units 42315101 175 27000 SOLE 0 0 27000
ALLEGHENY TECH INC COM 01741R102 904 29779 SOLE 0 0 29779
ANTARES PHARMA INC COM 36642106 895 235000 SOLE 0 0 235000
AVISTA CORP COM 05379B107 613 25429 SOLE 0 0 25429
BOEING CO COM 97023105 6289 83452 SOLE 0 0 83452
BANK OF AMERICA COM 60505104 2228 191946 SOLE 0 0 191946
BECTON DICKINSON CO COM 75887109 1391 17787 SOLE 0 0 17787
BROWN FORMAN CORP COM 115637209 467 7591 SOLE 0 0 7591
BUNGE LIMITED COM COM G16962105 1203 16551 SOLE 0 0 16551
BRIGGS & STRATTON COM 109043109 883 41900 SOLE 0 0 41900
BHP BILLITON LIMITED COM 88606108 1539 19626 SOLE 0 0 19626
BLACK HILLS CORP COM 92113109 1453 39976 SOLE 0 0 39976
BANK OF MONTREAL COM COM 63671101 5086 82975 SOLE 0 0 82975
BRISTOL MYERS SQUIBB COM 110122108 2657 81521 SOLE 0 0 81521
VANGUARD BD INDEX FD COM 921937835 855 10175 SOLE 0 0 10175
BP PLC ADR (CNV INTO COM 55622104 1955 46960 SOLE 0 0 46960
BUCKEYE PARTNERS L P Units 118230101 876 19300 SOLE 0 0 19300
BERKSHIRE HATHAWAY COM 84670702 6957 55157 SOLE 0 0 55157
BOSTON SCIENTIFIC COM 101137107 218 38050 SOLE 0 0 38050
PEABODY ENERGY CORP COM 704549104 16782 630661 SOLE 0 0 630661
BOARDWALK PIPELINE Units 96627104 5556 223135 SOLE 0 0 223135
CITIGROUP INC COM 172967424 219 5538 SOLE 0 0 5538
CONAGRA FOODS INC COM 205887102 363 12300 SOLE 0 0 12300
CATERPILLAR INC COM 149123101 783 8740 SOLE 0 0 8740
CHUBB CORP COM 171232101 1457 19341 SOLE 0 0 19341
CELGENE CORP COM 151020104 203 2585 SOLE 0 0 2585
ISHARES BARCLAYS COM 464288638 716 6442 SOLE 0 0 6442
COLGATE-PALMOLIVE CO COM 194162103 441 4217 SOLE 0 0 4217
CLOUD PEAK ENERGY COM 18911Q102 427 22110 SOLE 0 0 22110
CALUMET SPECIALTY Units 131476103 463 15250 SOLE 0 0 15250
CLOROX CO DEL COM 189054109 431 5889 SOLE 0 0 5889
CANADIAN IMPERIAL COM 136069101 201 2490 SOLE 0 0 2490
COMCAST CORP NEW COM 20030N200 1974 53160 SOLE 0 0 53160
CONCUR TECHNOLOGIES COM 206708109 870 12885 SOLE 0 0 12885
COLUMBIA BKG SYS INC COM 197236102 1101 61354 SOLE 0 0 61354
COLUMBIA SPORTSWEAR COM 198516106 6326 118544 SOLE 0 0 118544
CONOCOPHILLIPS COM 20825C104 3696 63741 SOLE 0 0 63741
COSTCO WHOLESALE COM 22160K105 7632 77298 SOLE 0 0 77298
CANADIAN PACIFIC COM 13645T100 3663 36050 SOLE 0 0 36050
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
------------------------ -------------- --------- -------- ----------------- ---------- -------- -------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ---- ------ -------
CAMPBELL SOUP CO COM 134429109 19974 572498 SOLE 0 0 572498
CRAY INC COM NEW COM 225223304 1539 96470 SOLE 0 0 96470
CISCO SYS INC COM 17275R102 6514 331511 SOLE 0 0 331511
ISHARES BARCLAYS 1-3 COM 464288646 5731 54330 SOLE 0 0 54330
CENTURYLINK INC COM 156700106 259 6615 SOLE 0 0 6615
CVS CAREMARK CORP COM 126650100 206 4263 SOLE 0 0 4263
CHEVRON CORP NEW COM 166764100 17279 159782 SOLE 0 0 159782
CYPRESS SEMICONDUCTR COM 232806109 1166 107555 SOLE 0 0 107555
DCT INDL TR INC Units 233153105 214 32950 SOLE 0 0 32950
DEERE & COMPANY COM 244199105 327 3780 SOLE 0 0 3780
DELTIC TIMBER CORP COM 247850100 2599 36798 SOLE 0 0 36798
DIAGEO ADR EACH REPR COM 25243Q205 2494 21391 SOLE 0 0 21391
QUEST DIAGNOSTICS COM 74834L100 345 5920 SOLE 0 0 5920
DIAMOND HILL FINL COM 25264C101 126 11000 SOLE 0 0 11000
DISNEY WALT CO COM 254687106 551 11068 SOLE 0 0 11068
DENDREON CORP COM 24823Q107 374 70735 SOLE 0 0 70735
DIAMOND OFFSHORE COM 25271C102 942 13856 SOLE 0 0 13856
DOW CHEMICAL CO COM 260543103 368 11368 SOLE 0 0 11368
DUKE ENERGY CORP COM COM 26441C204 337 5275 SOLE 0 0 5275
DEVON ENERGY CORP COM 25179M103 13940 267880 SOLE 0 0 267880
ISHARES TR DOW JONES COM 464287168 311 5435 SOLE 0 0 5435
ELECTRONIC ARTS COM 285512109 10419 717561 SOLE 0 0 717561
EBAY INC COM 278642103 560 10973 SOLE 0 0 10973
ENCANA CORPORATION COM 292505104 4714 238551 SOLE 0 0 238551
ISHARES TR COM 464287234 3670 82747 SOLE 0 0 82747
ENBRIDGE ENERGY Units 29250R106 3844 137769 SOLE 0 0 137769
ISHARES TR COM 464287465 6047 106354 SOLE 0 0 106354
ISHARES TR JPMORGAN COM 464288281 372 3030 SOLE 0 0 3030
E M C CORP MASS COM 268648102 1094 43249 SOLE 0 0 43249
EMERSON ELECTRIC CO COM 291011104 8069 152354 SOLE 0 0 152354
EL PASO PIPELINE Units 283702108 5400 146076 SOLE 0 0 146076
ENTERPRISE PRODUCTS Units 293792107 7725 154248 SOLE 0 0 154248
ESTERLINE TECH CORP COM 297425100 421 6617 SOLE 0 0 6617
EXPRESS SCRIPTS HLDG COM 30219G108 240 4452 SOLE 0 0 4452
ENERGY TRANSFER Units 29273V100 222 5030 SOLE 0 0 5030
EATON CORP PLC COM COM G29183103 288 5311 SOLE 0 0 5311
ISHARES INC MSCI COM 464286848 926 38604 SOLE 0 0 38604
EXELON CORP COM 30161N101 4115 138355 SOLE 0 0 138355
EXPEDITORS INTL COM 302130109 5091 128732 SOLE 0 0 128732
FORD MTR CO DEL COM 345370860 1604 123870 SOLE 0 0 123870
ABERDEEN ASIA COM 3009107 330 42630 SOLE 0 0 42630
FACEBOOK INC COM COM 30303M102 593 22261 SOLE 0 0 22261
FREEPORT MCMORAN COM 35671D857 384 11229 SOLE 0 0 11229
FEDEX CORP COM 31428X106 5998 65389 SOLE 0 0 65389
FIRSTENERGY CORP COM 337932107 1831 43838 SOLE 0 0 43838
FEI COMPANY COM 30241L109 1310 23625 SOLE 0 0 23625
F5 NETWORKS INC COM 315616102 1465 15081 SOLE 0 0 15081
FIRST FINL NORTHWEST COM 32022K102 100 13300 SOLE 0 0 13300
FEDERATED INVESTORS COM 314211103 4288 211940 SOLE 0 0 211940
FLEXTRONICS COM Y2573F102 82 13260 SOLE 0 0 13260
FLOW INTL CORP COM 343468104 81 23157 SOLE 0 0 23157
ISHARES TR FTSE COM 464287184 885 21877 SOLE 0 0 21877
GANNETT CO INC COM 364730101 466 25870 SOLE 0 0 25870
GENERAL ELECTRIC CO COM 369604103 9306 443334 SOLE 0 0 443334
GREIF INC CL A COM 397624107 1684 37850 SOLE 0 0 37850
TEMPLETON GLOBAL COM 880198106 654 69240 SOLE 0 0 69240
GENERAL MILLS INC COM 370334104 261 6456 SOLE 0 0 6456
SPDR GOLD TR GOLD COM 78463V107 5933 36618 SOLE 0 0 36618
CORNING INC COM 219350105 20705 1640624 SOLE 0 0 1640624
GENERAL MOTORS CO COM 37045V100 1859 64490 SOLE 0 0 64490
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
------------------------ -------------- --------- -------- ----------------- ---------- -------- -------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ---- ------ -------
GENERAL MOTORS CO COM 37045V209 854 19350 SOLE 0 0 19350
GOOGLE INC COM 38259P508 1570 2219 SOLE 0 0 2219
GAP INC DEL COM 364760108 685 22065 SOLE 0 0 22065
GLAXOSMITHKLINE ADR COM 37733W105 4251 97793 SOLE 0 0 97793
HEALTH CARE REIT INC Units 42217K106 6141 100199 SOLE 0 0 100199
HOME DEPOT INC COM 437076102 2480 40092 SOLE 0 0 40092
HECKMANN CORP COM COM 422680108 273 67700 SOLE 0 0 67700
HOMESTREET INC COM COM 43785V102 230 9000 SOLE 0 0 9000
HEINZ H J CO COM 423074103 250 4341 SOLE 0 0 4341
HOME FED BANCORP COM 43710G105 209 16848 SOLE 0 0 16848
HONEYWELL INTL INC COM 438516106 235 3708 SOLE 0 0 3708
HEWLETT-PACKARD CO COM 428236103 332 23307 SOLE 0 0 23307
HOSPIRA INC COM 441060100 20101 643431 SOLE 0 0 643431
ISHARES TR IBOXX COM 464288513 681 7292 SOLE 0 0 7292
ISHARES GOLD TRUST COM 464285105 5673 348498 SOLE 0 0 348498
INTL BUSINESS MACH COM 459200101 8538 44573 SOLE 0 0 44573
ISHARES CORE S&P COM 464287507 578 5682 SOLE 0 0 5682
ISHARES CORE S&P COM 464287804 1323 16941 SOLE 0 0 16941
INTEL CORP COM 458140100 16003 776095 SOLE 0 0 776095
SPDR SERIES TRUST COM 78464A672 257 4230 SOLE 0 0 4230
JOHNSON CTLS INC COM 478366107 375 12243 SOLE 0 0 12243
JOHNSON & JOHNSON COM 478160104 18251 260356 SOLE 0 0 260356
SPDR SER TR BARCLAYS COM 78464A417 240 5895 SOLE 0 0 5895
WILEY JOHN & SONS COM 968223206 2767 71075 SOLE 0 0 71075
NORDSTROM INC COM 655664100 3672 68640 SOLE 0 0 68640
KIMBERLY CLARK CORP COM 494368103 1531 18138 SOLE 0 0 18138
KINDER MORGAN INC COM 49456B119 123 14046 SOLE 0 0 14046
COCA COLA CO COM 191216100 5562 153421 SOLE 0 0 153421
KROGER CO COM 501044101 2769 106435 SOLE 0 0 106435
KOHLS CORP COM 500255104 10357 240984 SOLE 0 0 240984
L-3 COMMUNICATIONS COM 502424104 212 2769 SOLE 0 0 2769
LILLY ELI & CO COM 532457108 10356 209974 SOLE 0 0 209974
LORILLARD INC COM COM 544147101 308 2637 SOLE 0 0 2637
ISHARES IBOXX $ COM 464287242 5722 47289 SOLE 0 0 47289
LATTICE SEMICONDUCTR COM 518415104 51 12800 SOLE 0 0 12800
SOUTHWEST AIRLNS CO COM 844741108 19941 1947408 SOLE 0 0 1947408
LAS VEGAS SANDS COM 517834107 237 5131 SOLE 0 0 5131
MASTERCARD INC CL A COM 57636Q104 873 1776 SOLE 0 0 1776
MCDONALDS CORP COM 580135101 2461 27905 SOLE 0 0 27905
MARCHEX INC COM 56624R108 41 10000 SOLE 0 0 10000
MONDELEZ INTL INC COM 609207105 326 12806 SOLE 0 0 12806
MEDTRONIC INC COM 585055106 1809 44104 SOLE 0 0 44104
M D U RES GROUP INC COM 552690109 3819 179823 SOLE 0 0 179823
SPDR S&P MIDCAP 400 COM 78467Y107 1450 7810 SOLE 0 0 7810
MAGNA INTERNATIONAL COM 559222401 1052 21030 SOLE 0 0 21030
MCGRAW-HILL COS INC COM 580645109 328 6000 SOLE 0 0 6000
MCCORMICK & CO INC COM 579780107 219 3465 SOLE 0 0 3465
3M COMPANY COM 88579Y101 7186 77393 SOLE 0 0 77393
MANNKIND CORP COM 56400P201 59 25500 SOLE 0 0 25500
ALTRIA GROUP INC COM 02209S103 1122 35674 SOLE 0 0 35674
MOSAIC CO NEW COM COM 61945C103 2512 44355 SOLE 0 0 44355
MERCK & CO INC NEW COM 58933Y105 6305 153997 SOLE 0 0 153997
MARATHON OIL CORP COM 565849106 379 12350 SOLE 0 0 12350
MICROSOFT CORP COM 594918104 44646 1671506 SOLE 0 0 1671506
M & T BANK CORP COM 55261F104 13793 140075 SOLE 0 0 140075
MICRON TECHNOLOGY COM 595112103 1378 217397 SOLE 0 0 217397
MURPHY OIL CORP COM 626717102 5065 85052 SOLE 0 0 85052
NEWMONT MNG CORP COM 651639106 5104 109914 SOLE 0 0 109914
NIKE INC CLASS B COM 654106103 721 13966 SOLE 0 0 13966
ANNALY CAPITAL Units 35710409 143 10160 SOLE 0 0 10160
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
------------------------ -------------- --------- -------- ----------------- ---------- -------- -------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ---- ------ -------
NOKIA OYJ ADR EACH COM 654902204 9735 2464467 SOLE 0 0 2464467
NATIONAL PRESTO INDS COM 637215104 2357 34115 SOLE 0 0 34115
NUSTAR ENERGY LP Units 67058H102 1402 33000 SOLE 0 0 33000
NORFOLK SOUTHERN CRP COM 655844108 3730 60319 SOLE 0 0 60319
NETAPP INC COM COM 64110D104 14492 431964 SOLE 0 0 431964
NORTHERN TR CORP COM 665859104 1138 22690 SOLE 0 0 22690
NUCOR CORP COM 670346105 218 5047 SOLE 0 0 5047
NUVEEN MUN VALUE FD COM 670928100 426 41543 SOLE 0 0 41543
NOVO-NORDISK AS COM 670100205 7239 44353 SOLE 0 0 44353
NOVARTIS AG ADR-EACH COM 66987V109 354 5590 SOLE 0 0 5590
NEWELL RUBBERMAID COM 651229106 774 34769 SOLE 0 0 34769
NORTHWEST PIPE CO COM 667746101 704 29511 SOLE 0 0 29511
NEW YORK COMMUNITY COM 649445103 652 49800 SOLE 0 0 49800
OMEROS CORP COM 682143102 82 15713 SOLE 0 0 15713
ORACLE CORPORATION COM 68389X105 2892 86782 SOLE 0 0 86782
OLD REPUBLIC INTL COM 680223104 181 16968 SOLE 0 0 16968
PLAINS ALL AMERICAN Units 726503105 1058 23392 SOLE 0 0 23392
PACCAR INC COM 693718108 63577 1406253 SOLE 0 0 1406253
PACIFIC CONTL CORP COM 69412V108 333 34212 SOLE 0 0 34212
PG & E CORP COM 69331C108 343 8540 SOLE 0 0 8540
POTLATCH CORP NEW Units 737630103 5511 140774 SOLE 0 0 140774
PLUM CREEK TIMBER CO Units 729251108 5471 123311 SOLE 0 0 123311
PRECISION CASTPARTS COM 740189105 446 2356 SOLE 0 0 2356
PENN NATL GAMING INC COM 707569109 540 11001 SOLE 0 0 11001
PEPSICO INC COM 713448108 15773 230504 SOLE 0 0 230504
PFIZER INC COM 717081103 16068 640678 SOLE 0 0 640678
MARKET VECTORS ETF COM 57061R791 1262 30851 SOLE 0 0 30851
PROCTER & GAMBLE CO COM 742718109 5404 79601 SOLE 0 0 79601
PHILIPS COM 500472303 29580 1114530 SOLE 0 0 1114530
PIMCO INCOME COM 72202B100 591 29164 SOLE 0 0 29164
PHILIP MORRIS INTL COM 718172109 3280 39212 SOLE 0 0 39212
PENNYMAC MORTGAGE Units 70931T103 1790 70780 SOLE 0 0 70780
PORTLAND GEN ELEC CO COM 736508847 337 12318 SOLE 0 0 12318
PERRIGO CO COM 714290103 300 2885 SOLE 0 0 2885
PARKERVISION INC COM 701354102 102 50000 SOLE 0 0 50000
PHILLIPS 66 COM COM 718546104 1219 22966 SOLE 0 0 22966
PVR PARTNERS L P Units 693665101 7527 289706 SOLE 0 0 289706
PENN WEST PETROLEUM COM 707887105 1512 139196 SOLE 0 0 139196
QUALCOMM INC COM 747525103 1683 27209 SOLE 0 0 27209
POWERSHARES QQQ TR COM 73935A104 431 6622 SOLE 0 0 6622
ROYAL DUTCH SHELL COM 780259206 9215 130575 SOLE 0 0 130575
ROYAL GOLD INC COM COM 780287108 871 10702 SOLE 0 0 10702
TRANSOCEAN LIMITED COM H8817H100 10187 228101 SOLE 0 0 228101
RED LION HOTELS CORP COM 756764106 209 26500 SOLE 0 0 26500
COHEN & STEERS COM 19247L106 209 20603 SOLE 0 0 20603
REPUBLIC SERVICES COM 760759100 9611 327687 SOLE 0 0 327687
RAYTHEON CO COM NEW COM 755111507 279 4852 SOLE 0 0 4852
RIVERBED TECHNOLOGY COM 768573107 336 17020 SOLE 0 0 17020
ROYCE VALUE TR INC COM 780910105 275 20491 SOLE 0 0 20491
REDWOOD TRUST INC Units 758075402 470 27823 SOLE 0 0 27823
RAYONIER INC Units 754907103 6283 121228 SOLE 0 0 121228
SPRINT NEXTEL CORP COM 852061100 701 123580 SOLE 0 0 123580
STARBUCKS CORP COM 855244109 10349 192972 SOLE 0 0 192972
SOUTHERN COPPER CORP COM 84265V105 265 7000 SOLE 0 0 7000
STANCORP FINANCIAL COM 852891100 1881 51298 SOLE 0 0 51298
SEATTLE GENETICS INC COM 812578102 340 14670 SOLE 0 0 14670
ETFS GOLD TR SHS COM 26922Y105 411 2488 SOLE 0 0 2488
SIEMENS AG ADR-EACH COM 826197501 1235 11279 SOLE 0 0 11279
SMUCKER J M CO NEW COM 832696405 211 2444 SOLE 0 0 2444
SAN JUAN BASIN RTY Units 798241105 2698 201205 SOLE 0 0 201205
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
------------------------ -------------- --------- -------- ----------------- ---------- -------- -------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ---- ------ -------
SCHLUMBERGER LIMITED COM 806857108 5384 77690 SOLE 0 0 77690
ISHARES SILVER TR COM 46428Q109 1791 60974 SOLE 0 0 60974
SOUTHERN CO COM 842587107 3594 83955 SOLE 0 0 83955
STAPLES INC COM 855030102 684 59960 SOLE 0 0 59960
SPDR S&P 500 ETF COM 78462F103 763 5357 SOLE 0 0 5357
SEMPRA ENERGY COM 816851109 459 6467 SOLE 0 0 6467
SUMMIT ST BK COM 866264203 178 26400 SOLE 0 0 26400
STAR SCIENTIFIC INC COM 85517P101 35 12900 SOLE 0 0 12900
SAFEWAY INC COM 786514208 1749 96676 SOLE 0 0 96676
STRYKER CORP COM 863667101 243 4427 SOLE 0 0 4427
SYSCO CORP COM 871829107 11045 348873 SOLE 0 0 348873
AT&T INC COM 00206R102 21560 639577 SOLE 0 0 639577
MOLSON COORS COM 60871R209 1326 31000 SOLE 0 0 31000
TECO ENERGY INC COM 872375100 393 23432 SOLE 0 0 23432
TELEFONICA SA ADR EA COM 879382208 1192 88361 SOLE 0 0 88361
TEVA PHARMACEUTICAL COM 881624209 837 22424 SOLE 0 0 22424
ISHARES BARCLAYS COM 464287176 794 6537 SOLE 0 0 6537
TRIQUINT COM 89674K103 79 16450 SOLE 0 0 16450
TESLA MOTORS INC COM COM 88160R101 9053 267285 SOLE 0 0 267285
TORTOISE ENERGY CAP COM 89147U100 233 8171 SOLE 0 0 8171
UNILEVER PLC ADS-EA COM 904767704 3269 84435 SOLE 0 0 84435
UMPQUA HOLDINGS CORP COM 904214103 158 13400 SOLE 0 0 13400
UNION PACIFIC CORP COM 907818108 812 6458 SOLE 0 0 6458
UNITED PARCEL SVC COM 911312106 919 12468 SOLE 0 0 12468
UNITED TECHNOLOGIES COM 913017109 446 5437 SOLE 0 0 5437
VANGUARD INDEX FDS COM 922908611 709 8148 SOLE 0 0 8148
VANGUARD TAX-MANAGED COM 921943858 292 8277 SOLE 0 0 8277
VIACOM INC NEW COM 92553P201 513 9728 SOLE 0 0 9728
VALERO ENERGY CORP COM 91913Y100 1345 39433 SOLE 0 0 39433
VODAFONE GROUP SPON COM 92857W209 4192 166435 SOLE 0 0 166435
VANGUARD INTL COM COM 922042866 3598 80579 SOLE 0 0 80579
VALEANT COM 91911K102 489 8184 SOLE 0 0 8184
VANGUARD INDEX FDS COM 922908769 946 13011 SOLE 0 0 13011
VENTAS INC Units 92276F100 1932 29857 SOLE 0 0 29857
VERIZON COM 92343V104 5685 131393 SOLE 0 0 131393
WASHINGTON FEDERAL COM 938824109 11264 667720 SOLE 0 0 667720
WALGREEN COMPANY COM 931422109 574 15515 SOLE 0 0 15515
WESCO AIRCRAFT COM 950814103 236 17838 SOLE 0 0 17838
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WEBMD HEALTH CORP COM 94770V102 147 10250 SOLE 0 0 10250
WELLS FARGO & CO COM 949746101 4946 144711 SOLE 0 0 144711
WEATHERFORD COM H27013103 123 10948 SOLE 0 0 10948
WHIRLPOOL CORP COM 963320106 1079 10605 SOLE 0 0 10605
WELLPOINT INC COM 94973V107 211 3457 SOLE 0 0 3457
WASTE MANAGEMENT INC COM 94106L109 6027 178631 SOLE 0 0 178631
WEIS MARKETS INC COM 948849104 725 18510 SOLE 0 0 18510
WALMART STORES INC COM 931142103 1301 19073 SOLE 0 0 19073
WASHINGTON REAL Units 939653101 28131 1075744 SOLE 0 0 1075744
WESTERN UNION CO COM 959802109 13840 1016915 SOLE 0 0 1016915
WOLVERINE WORLD WIDE COM 978097103 216 5282 SOLE 0 0 5282
WEYERHAEUSER CO Units 962166104 8286 297860 SOLE 0 0 297860
EXCO RES INC COM COM 269279402 186 27525 SOLE 0 0 27525
EXELIS INC COM COM 30162A108 114 10075 SOLE 0 0 10075
SECTOR SPDR TR SHS COM 81369Y886 1120 37357 SOLE 0 0 37357
EXXON MOBIL CORP COM 30231G102 11291 130457 SOLE 0 0 130457
XEROX CORP COM 984121103 1500 219977 SOLE 0 0 219977
XYLEM INC COM COM 98419M100 6778 250129 SOLE 0 0 250129
YAHOO INC COM 984332106 1069 53700 SOLE 0 0 53700
ZUMIEZ INC COM 989817101 3955 203743 SOLE 0 0 203743