13F-HR 1 f13fhead.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, 2006 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: SAFECO Corporation Address: SAFECO Plaza Seattle, WA 98185 13F File Number: 28-167 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: Richard Kelly Title: Chief Investment Officer Phone: 206-545-5734 Signature, Place, and Date of Signing: Richard Kelly Seattle, Washington October 30, 2006 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: 5 Form 13F Information Table Entry Total: 379 Form 13F Information Table Value Total: 1352088 List of Other Included Managers: No. 13F File Number Name 01 28-4977 American Economy Insurance Company 02 28-6944 American States Insurance Company 03 28-170 General Insurance Company of America 04 28-169 Safeco Insurance Company of America 05 28-5191 Safeco Insurance Company of Illinois FORM 13F INFORMATION TABLE 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AT&T INC COM 00206R102 1140 35000 SH DEFINED 35000 0 0 AT&T INC COM 00206R102 1693 52000 SH DEFINED 01 52000 0 0 AT&T INC COM 00206R102 1629 50030 SH DEFINED 03 50030 0 0 AT&T INC COM 00206R102 14731 452440 SH DEFINED 04 452440 0 0 AT&T INC COM 00206R102 1074 33000 SH DEFINED 05 33000 0 0 ABBOTT LABORATORIES COM 002824100 5584 115000 SH SOLE 115000 0 0 ABBOTT LABORATORIES COM 002824100 243 5000 SH DEFINED 01 5000 0 0 ABBOTT LABORATORIES COM 002824100 4662 96000 SH DEFINED 02 96000 0 0 ABBOTT LABORATORIES COM 002824100 8498 175000 SH DEFINED 03 175000 0 0 ABBOTT LABORATORIES COM 002824100 340 7000 SH DEFINED 04 7000 0 0 ADOBE SYSTEMS INC COM 00724F101 262 7000 SH DEFINED 01 7000 0 0 ADOBE SYSTEMS INC COM 00724F101 1611 43000 SH DEFINED 04 43000 0 0 ADOBE SYSTEMS INC COM 00724F101 1686 45000 SH DEFINED 05 45000 0 0 ADVANCED MICRO DEVICES COM 007903107 1367 55000 SH DEFINED 01 55000 0 0 ADVANCED MICRO DEVICES COM 007903107 2485 100000 SH DEFINED 04 100000 0 0 AIR PROD & CHEM INC. COM 009158106 5641 85000 SH DEFINED 02 85000 0 0 AIR PROD & CHEM INC. COM 009158106 6106 92000 SH DEFINED 03 92000 0 0 ALLTEL CORP COM 020039103 1388 25000 SH DEFINED 25000 0 0 ALLTEL CORP COM 020039103 1943 35000 SH DEFINED 01 35000 0 0 ALLTEL CORP COM 020039103 1943 35000 SH DEFINED 02 35000 0 0 ALLTEL CORP COM 020039103 1832 33000 SH DEFINED 04 33000 0 0 ALLTEL CORP COM 020039103 2775 50000 SH DEFINED 05 50000 0 0 ALTRIA GROUP INC COM 02209S103 995 13000 SH DEFINED 13000 0 0 ALTRIA GROUP INC COM 02209S103 1301 17000 SH DEFINED 01 17000 0 0 ALTRIA GROUP INC COM 02209S103 8803 115000 SH DEFINED 03 115000 0 0 ALTRIA GROUP INC COM 02209S103 9952 130000 SH DEFINED 04 130000 0 0 ALTRIA GROUP INC COM 02209S103 1608 21000 SH DEFINED 05 21000 0 0 AMERICAN EXPRESS COMPANY COM 025816109 2524 45000 SH DEFINED 45000 0 0 AMERICAN EXPRESS COMPANY COM 025816109 6449 115000 SH DEFINED 03 115000 0 0 AMERICAN EXPRESS COMPANY COM 025816109 5608 100000 SH DEFINED 04 100000 0 0 AMERICAN INTERNATIONAL GROUP COM 026874107 872 13160 SH DEFINED 13160 0 0 AMERICAN INTERNATIONAL GROUP COM 026874107 3363 50750 SH DEFINED 01 50750 0 0 AMERICAN INTERNATIONAL GROUP COM 026874107 2982 45000 SH DEFINED 02 45000 0 0 AMERICAN INTERNATIONAL GROUP COM 026874107 663 10000 SH DEFINED 03 10000 0 0 AMERICAN INTERNATIONAL GROUP COM 026874107 8958 135190 SH DEFINED 04 135190 0 0 AMERICAN INTERNATIONAL GROUP COM 026874107 1517 22900 SH DEFINED 05 22900 0 0 AMGEN, INC. COM 031162100 1931 27000 SH DEFINED 02 27000 0 0 AMGEN, INC. COM 031162100 13233 185000 SH DEFINED 03 185000 0 0 AMGEN, INC. COM 031162100 2110 29500 SH DEFINED 04 29500 0 0 ANADARKO PETROLEUM CORP COM 032511107 4102 93600 SH DEFINED 03 93600 0 0 ANHEUSER-BUSCH CO COM 035229103 2756 58000 SH DEFINED 58000 0 0 ANHEUSER-BUSCH CO COM 035229103 760 16000 SH DEFINED 02 16000 0 0 ANHEUSER-BUSCH CO COM 035229103 4086 86000 SH DEFINED 03 86000 0 0 APACHE CORP COM 037411105 765 12100 SH DEFINED 01 12100 0 0 APACHE CORP COM 037411105 1074 17000 SH DEFINED 03 17000 0 0 APACHE CORP COM 037411105 1529 24200 SH DEFINED 05 24200 0 0 APPLE COMPUTER INC. COM 037833100 1578 20500 SH DEFINED 03 20500 0 0 APPLE COMPUTER INC. COM 037833100 7890 102500 SH DEFINED 04 102500 0 0 ARCHER DANIELS MIDLAND CO COM 039483102 2349 62000 SH DEFINED 62000 0 0 ARCHER DANIELS MIDLAND CO COM 039483102 758 20000 SH DEFINED 01 20000 0 0 ARCHER DANIELS MIDLAND CO COM 039483102 720 19000 SH DEFINED 02 19000 0 0 ARCHER DANIELS MIDLAND CO COM 039483102 644 17000 SH DEFINED 05 17000 0 0 AVERY DENNISON CORP COM 053611109 5175 86000 SH DEFINED 01 86000 0 0 AVERY DENNISON CORP COM 053611109 9026 150000 SH DEFINED 02 150000 0 0 AVERY DENNISON CORP COM 053611109 1805 30000 SH DEFINED 03 30000 0 0 AVERY DENNISON CORP COM 053611109 3670 61000 SH DEFINED 04 61000 0 0 AVON PRODUCTS COM 054303102 675 22000 SH DEFINED 01 22000 0 0 AVON PRODUCTS COM 054303102 950 31000 SH DEFINED 02 31000 0 0 AVON PRODUCTS COM 054303102 1150 37500 SH DEFINED 03 37500 0 0 AVON PRODUCTS COM 054303102 3373 110000 SH DEFINED 04 110000 0 0 AVON PRODUCTS COM 054303102 506 16500 SH DEFINED 05 16500 0 0 BP PLC COM 055622104 7470 113912 SH DEFINED 113912 0 0 BP PLC COM 055622104 9470 144400 SH DEFINED 03 144400 0 0 BP PLC COM 055622104 3863 58904 SH DEFINED 04 58904 0 0 BALL CORP COM 058498106 3398 84000 SH DEFINED 01 84000 0 0 BALL CORP COM 058498106 1391 34400 SH DEFINED 04 34400 0 0 BANK OF AMERICA CORP COM 060505104 6966 130036 SH DEFINED 130036 0 0 BANK OF AMERICA CORP COM 060505104 3911 73000 SH DEFINED 02 73000 0 0 BANK OF AMERICA CORP COM 060505104 9402 175500 SH DEFINED 03 175500 0 0 BANK OF AMERICA CORP COM 060505104 19498 363981 SH DEFINED 04 363981 0 0 BANK OF AMERICA CORP COM 060505104 3891 72630 SH DEFINED 05 72630 0 0 BANK OF NY CO, INC. COM 064057102 2997 85000 SH DEFINED 85000 0 0 BANK OF NY CO, INC. COM 064057102 2468 70000 SH DEFINED 02 70000 0 0 BANK OF NY CO, INC. COM 064057102 2503 71000 SH DEFINED 03 71000 0 0 BANK OF NY CO, INC. COM 064057102 5747 163000 SH DEFINED 04 163000 0 0 BANK OF NY CO, INC. COM 064057102 705 20000 SH DEFINED 05 20000 0 0 BELLSOUTH CORP COM 079860102 1325 31000 SH DEFINED 01 31000 0 0 BELLSOUTH CORP COM 079860102 2437 57000 SH DEFINED 02 57000 0 0 BELLSOUTH CORP COM 079860102 1582 37000 SH DEFINED 03 37000 0 0 BELLSOUTH CORP COM 079860102 3677 86000 SH DEFINED 04 86000 0 0 BELLSOUTH CORP COM 079860102 941 22000 SH DEFINED 05 22000 0 0 BOEING CO COM 097023105 2602 33000 SH DEFINED 33000 0 0 BOEING CO COM 097023105 2523 32000 SH DEFINED 02 32000 0 0 BOEING CO COM 097023105 2996 38000 SH DEFINED 03 38000 0 0 BOEING CO COM 097023105 1419 18000 SH DEFINED 04 18000 0 0 BOEING CO COM 097023105 867 11000 SH DEFINED 05 11000 0 0 BROADCOM CORP-CL A COMMON COM 111320107 516 17000 SH DEFINED 17000 0 0 BROADCOM CORP-CL A COMMON COM 111320107 1365 45000 SH DEFINED 01 45000 0 0 BROADCOM CORP-CL A COMMON COM 111320107 1001 33000 SH DEFINED 02 33000 0 0 CDW CORP COM 12512N105 678 11000 SH DEFINED 02 11000 0 0 CDW CORP COM 12512N105 1079 17500 SH DEFINED 03 17500 0 0 CDW CORP COM 12512N105 1511 24500 SH DEFINED 04 24500 0 0 CDW CORP COM 12512N105 1264 20500 SH DEFINED 05 20500 0 0 CHEVRONTEXACO CORP COM 166764100 11351 175000 SH SOLE 175000 0 0 CHEVRONTEXACO CORP COM 166764100 1177 18148 SH DEFINED 18148 0 0 CHEVRONTEXACO CORP COM 166764100 12972 200000 SH DEFINED 02 200000 0 0 CHEVRONTEXACO CORP COM 166764100 4706 72552 SH DEFINED 03 72552 0 0 CHEVRONTEXACO CORP COM 166764100 7708 118844 SH DEFINED 04 118844 0 0 CHEVRONTEXACO CORP COM 166764100 2594 40000 SH DEFINED 05 40000 0 0 CISCO SYSTEMS INC COM 17275R102 1172 51000 SH DEFINED 01 51000 0 0 CISCO SYSTEMS INC COM 17275R102 1103 48000 SH DEFINED 02 48000 0 0 CISCO SYSTEMS INC COM 17275R102 896 39000 SH DEFINED 03 39000 0 0 CISCO SYSTEMS INC COM 17275R102 8089 352000 SH DEFINED 04 352000 0 0 CISCO SYSTEMS INC COM 17275R102 2735 119000 SH DEFINED 05 119000 0 0 CITIGROUP INC COM 172967101 4967 100000 SH SOLE 100000 0 0 CITIGROUP INC COM 172967101 1838 37000 SH DEFINED 01 37000 0 0 CITIGROUP INC COM 172967101 2782 56000 SH DEFINED 02 56000 0 0 CITIGROUP INC COM 172967101 18974 382000 SH DEFINED 03 382000 0 0 CITIGROUP INC COM 172967101 9338 188000 SH DEFINED 04 188000 0 0 CITIGROUP INC COM 172967101 1490 30000 SH DEFINED 05 30000 0 0 COCA COLA CO COM 191216100 402 9000 SH DEFINED 01 9000 0 0 COCA COLA CO COM 191216100 424 9500 SH DEFINED 02 9500 0 0 COCA COLA CO COM 191216100 2234 50000 SH DEFINED 03 50000 0 0 COCA COLA CO COM 191216100 5942 133000 SH DEFINED 04 133000 0 0 COCA COLA CO COM 191216100 1877 42000 SH DEFINED 05 42000 0 0 COLGATE-PALMOLIVE COM 194162103 2174 35000 SH SOLE 35000 0 0 COLGATE-PALMOLIVE COM 194162103 1180 19000 SH DEFINED 19000 0 0 COLGATE-PALMOLIVE COM 194162103 2645 42600 SH DEFINED 01 42600 0 0 COLGATE-PALMOLIVE COM 194162103 3850 62000 SH DEFINED 03 62000 0 0 COLGATE-PALMOLIVE COM 194162103 5117 82400 SH DEFINED 04 82400 0 0 COLGATE-PALMOLIVE COM 194162103 2546 41000 SH DEFINED 05 41000 0 0 CONOCOPHILLIPS COM 20825C104 1429 24000 SH DEFINED 24000 0 0 CONOCOPHILLIPS COM 20825C104 4881 82000 SH DEFINED 01 82000 0 0 CONOCOPHILLIPS COM 20825C104 8996 151110 SH DEFINED 02 151110 0 0 CONOCOPHILLIPS COM 20825C104 9518 159880 SH DEFINED 04 159880 0 0 CONOCOPHILLIPS COM 20825C104 1786 30000 SH DEFINED 05 30000 0 0 CORNING INC COM 219350105 1196 49000 SH DEFINED 49000 0 0 CORNING INC COM 219350105 6127 251000 SH DEFINED 02 251000 0 0 CORNING INC COM 219350105 1884 77200 SH DEFINED 03 77200 0 0 CORNING INC COM 219350105 1880 77000 SH DEFINED 04 77000 0 0 COSTCO WHOLESALE CORP COM 22160K105 1192 24000 SH DEFINED 01 24000 0 0 COSTCO WHOLESALE CORP COM 22160K105 1018 20500 SH DEFINED 02 20500 0 0 COSTCO WHOLESALE CORP COM 22160K105 3353 67500 SH DEFINED 03 67500 0 0 COSTCO WHOLESALE CORP COM 22160K105 2037 41000 SH DEFINED 04 41000 0 0 COSTCO WHOLESALE CORP COM 22160K105 1242 25000 SH DEFINED 05 25000 0 0 DEERE & CO COM 244199105 4615 55000 SH SOLE 55000 0 0 DELL INC COM 24702R101 799 35000 SH DEFINED 35000 0 0 DELL INC COM 24702R101 1576 69000 SH DEFINED 01 69000 0 0 DELL INC COM 24702R101 1085 47500 SH DEFINED 03 47500 0 0 DELL INC COM 24702R101 3346 146500 SH DEFINED 04 146500 0 0 DELL INC COM 24702R101 3997 175000 SH DEFINED 05 175000 0 0 THE WALT DISNEY CO. COM 254687106 1360 44000 SH DEFINED 44000 0 0 THE WALT DISNEY CO. COM 254687106 927 30000 SH DEFINED 02 30000 0 0 THE WALT DISNEY CO. COM 254687106 6228 201500 SH DEFINED 04 201500 0 0 EBAY INC COM 278642103 332 11700 SH DEFINED 01 11700 0 0 EBAY INC COM 278642103 4211 148500 SH DEFINED 02 148500 0 0 EBAY INC COM 278642103 746 26300 SH DEFINED 03 26300 0 0 EBAY INC COM 278642103 1503 53000 SH DEFINED 04 53000 0 0 ELKCORP COM 287456107 3652 134500 SH DEFINED 03 134500 0 0 EMERSON ELECTRIC CO COM 291011104 4193 50000 SH SOLE 50000 0 0 EMERSON ELECTRIC CO COM 291011104 587 7000 SH DEFINED 7000 0 0 EMERSON ELECTRIC CO COM 291011104 3271 39000 SH DEFINED 01 39000 0 0 EMERSON ELECTRIC CO COM 291011104 1258 15000 SH DEFINED 02 15000 0 0 EMERSON ELECTRIC CO COM 291011104 5115 61000 SH DEFINED 04 61000 0 0 EMERSON ELECTRIC CO COM 291011104 503 6000 SH DEFINED 05 6000 0 0 EQUITY RESIDENTIAL COM 29476L107 13960 276000 SH DEFINED 04 276000 0 0 EQUITY RESIDENTIAL COM 29476L107 910 18000 SH DEFINED 05 18000 0 0 EXELON CORPORATION COM 30161N101 11200 185000 SH SOLE 185000 0 0 EXELON CORPORATION COM 30161N101 4964 82000 SH DEFINED 01 82000 0 0 EXELON CORPORATION COM 30161N101 3632 60000 SH DEFINED 02 60000 0 0 EXELON CORPORATION COM 30161N101 2240 37000 SH DEFINED 03 37000 0 0 EXELON CORPORATION COM 30161N101 1211 20000 SH DEFINED 04 20000 0 0 EXXON MOBIL CORPORATION COM 30231G102 5777 86100 SH DEFINED 86100 0 0 EXXON MOBIL CORPORATION COM 30231G102 5155 76822 SH DEFINED 01 76822 0 0 EXXON MOBIL CORPORATION COM 30231G102 8777 130800 SH DEFINED 02 130800 0 0 EXXON MOBIL CORPORATION COM 30231G102 1453 21658 SH DEFINED 03 21658 0 0 EXXON MOBIL CORPORATION COM 30231G102 10388 154820 SH DEFINED 04 154820 0 0 EXXON MOBIL CORPORATION COM 30231G102 2013 30000 SH DEFINED 05 30000 0 0 FNMA COM 313586109 6989 125000 SH DEFINED 125000 0 0 FEDEX CORP COM 31428X106 3043 28000 SH DEFINED 02 28000 0 0 FEDEX CORP COM 31428X106 4293 39500 SH DEFINED 03 39500 0 0 FORTUNE BRANDS, INC. COM 349631101 1502 20000 SH DEFINED 20000 0 0 FORTUNE BRANDS, INC. COM 349631101 1277 17000 SH DEFINED 03 17000 0 0 FORTUNE BRANDS, INC. COM 349631101 6384 85000 SH DEFINED 04 85000 0 0 GENERAL ELEC CO COM 369604103 6283 178000 SH SOLE 178000 0 0 GENERAL ELEC CO COM 369604103 883 25000 SH DEFINED 25000 0 0 GENERAL ELEC CO COM 369604103 1589 45000 SH DEFINED 01 45000 0 0 GENERAL ELEC CO COM 369604103 7060 200000 SH DEFINED 02 200000 0 0 GENERAL ELEC CO COM 369604103 4766 135000 SH DEFINED 03 135000 0 0 GENERAL ELEC CO COM 369604103 11049 313000 SH DEFINED 04 313000 0 0 GENERAL ELEC CO COM 369604103 4060 115000 SH DEFINED 05 115000 0 0 GENZYME CORP - GENL DIVISION COM 372917104 945 14000 SH DEFINED 14000 0 0 GENZYME CORP - GENL DIVISION COM 372917104 641 9500 SH DEFINED 01 9500 0 0 GENZYME CORP - GENL DIVISION COM 372917104 1552 23000 SH DEFINED 03 23000 0 0 GENZYME CORP - GENL DIVISION COM 372917104 4588 68000 SH DEFINED 04 68000 0 0 GOODRICH CORPORATION COM 382388106 1094 27000 SH DEFINED 01 27000 0 0 GOODRICH CORPORATION COM 382388106 1621 40000 SH DEFINED 04 40000 0 0 GOODRICH CORPORATION COM 382388106 1337 33000 SH DEFINED 05 33000 0 0 GOOGLE INC-CL A COMMON COM 38259P508 1206 3000 SH DEFINED 02 3000 0 0 GOOGLE INC-CL A COMMON COM 38259P508 4019 10000 SH DEFINED 04 10000 0 0 GOOGLE INC-CL A COMMON COM 38259P508 2612 6500 SH DEFINED 05 6500 0 0 HALLIBURTON CO COM 406216101 4182 147000 SH DEFINED 01 147000 0 0 HALLIBURTON CO COM 406216101 1280 45000 SH DEFINED 02 45000 0 0 HALLIBURTON CO COM 406216101 10583 372000 SH DEFINED 03 372000 0 0 HARTFORD FINL SVCS GRP COM 416515104 1301 15000 SH DEFINED 15000 0 0 HARTFORD FINL SVCS GRP COM 416515104 7374 85000 SH DEFINED 01 85000 0 0 HARTFORD FINL SVCS GRP COM 416515104 10670 123000 SH DEFINED 03 123000 0 0 HARTFORD FINL SVCS GRP COM 416515104 2603 30000 SH DEFINED 05 30000 0 0 HERSHEY FOOD CORP COM 427866108 1630 30500 SH DEFINED 30500 0 0 HERSHEY FOOD CORP COM 427866108 267 5000 SH DEFINED 01 5000 0 0 HERSHEY FOOD CORP COM 427866108 4223 79000 SH DEFINED 02 79000 0 0 HERSHEY FOOD CORP COM 427866108 588 11000 SH DEFINED 03 11000 0 0 HERSHEY FOOD CORP COM 427866108 2806 52500 SH DEFINED 04 52500 0 0 HERSHEY FOOD CORP COM 427866108 1871 35000 SH DEFINED 05 35000 0 0 HEWLETT-PACKARD CO COM 428236103 6678 182000 SH DEFINED 02 182000 0 0 HEWLETT-PACKARD CO COM 428236103 2568 70000 SH DEFINED 03 70000 0 0 HEWLETT-PACKARD CO COM 428236103 3709 101100 SH DEFINED 04 101100 0 0 HOME DEPOT INC COM 437076102 435 12000 SH DEFINED 12000 0 0 HOME DEPOT INC COM 437076102 2031 56000 SH DEFINED 01 56000 0 0 HOME DEPOT INC COM 437076102 3700 102000 SH DEFINED 02 102000 0 0 HOME DEPOT INC COM 437076102 2466 68000 SH DEFINED 03 68000 0 0 HOME DEPOT INC COM 437076102 5586 154000 SH DEFINED 04 154000 0 0 HOME DEPOT INC COM 437076102 1451 40000 SH DEFINED 05 40000 0 0 HONEYWELL INC COM 438516106 2290 56000 SH DEFINED 03 56000 0 0 HONEYWELL INC COM 438516106 3231 79000 SH DEFINED 04 79000 0 0 HONEYWELL INC COM 438516106 1350 33000 SH DEFINED 05 33000 0 0 INTEL CORP COM 458140100 926 45000 SH DEFINED 01 45000 0 0 INTEL CORP COM 458140100 905 44000 SH DEFINED 02 44000 0 0 INTEL CORP COM 458140100 1440 70000 SH DEFINED 03 70000 0 0 INTEL CORP COM 458140100 1646 80000 SH DEFINED 04 80000 0 0 INTL BUSINESS MACHINES COM 459200101 1885 23000 SH DEFINED 01 23000 0 0 INTL BUSINESS MACHINES COM 459200101 5285 64500 SH DEFINED 02 64500 0 0 INTL BUSINESS MACHINES COM 459200101 2008 24500 SH DEFINED 03 24500 0 0 INTL BUSINESS MACHINES COM 459200101 2622 32000 SH DEFINED 04 32000 0 0 INTL BUSINESS MACHINES COM 459200101 819 10000 SH DEFINED 05 10000 0 0 JLG INDUSTRIES INC. COM 466210101 1387 70000 SH DEFINED 02 70000 0 0 JLG INDUSTRIES INC. COM 466210101 2773 140000 SH DEFINED 04 140000 0 0 JPMORGAN CHASE & CO COM 46625H100 4696 100000 SH SOLE 100000 0 0 JPMORGAN CHASE & CO COM 46625H100 8969 191000 SH DEFINED 02 191000 0 0 JPMORGAN CHASE & CO COM 46625H100 6105 130000 SH DEFINED 03 130000 0 0 JPMORGAN CHASE & CO COM 46625H100 16294 346973 SH DEFINED 04 346973 0 0 JPMORGAN CHASE & CO COM 46625H100 1240 26400 SH DEFINED 05 26400 0 0 JOHNSON & JOHNSON COM 478160104 6494 100000 SH SOLE 100000 0 0 JOHNSON & JOHNSON COM 478160104 4611 71000 SH DEFINED 71000 0 0 JOHNSON & JOHNSON COM 478160104 2727 42000 SH DEFINED 01 42000 0 0 JOHNSON & JOHNSON COM 478160104 4676 72000 SH DEFINED 02 72000 0 0 JOHNSON & JOHNSON COM 478160104 2598 40000 SH DEFINED 03 40000 0 0 JOHNSON & JOHNSON COM 478160104 1299 20000 SH DEFINED 04 20000 0 0 JOHNSON & JOHNSON COM 478160104 3312 51000 SH DEFINED 05 51000 0 0 KIMBERLY CLARK CORP COM 494368103 1634 25000 SH DEFINED 25000 0 0 KIMBERLY CLARK CORP COM 494368103 523 8000 SH DEFINED 02 8000 0 0 KIMBERLY CLARK CORP COM 494368103 7190 110000 SH DEFINED 03 110000 0 0 KIMBERLY CLARK CORP COM 494368103 1634 25000 SH DEFINED 05 25000 0 0 LIBERTY PROPERTY TRUST COM 531172104 1615 33800 SH DEFINED 01 33800 0 0 LIBERTY PROPERTY TRUST COM 531172104 5185 108500 SH DEFINED 02 108500 0 0 MCDONALDS CORP COM 580135101 1956 50000 SH DEFINED 50000 0 0 MCDONALDS CORP COM 580135101 3208 82000 SH DEFINED 02 82000 0 0 MCDONALDS CORP COM 580135101 2601 66500 SH DEFINED 04 66500 0 0 MEDTRONIC INC COM 585055106 441 9500 SH DEFINED 9500 0 0 MEDTRONIC INC COM 585055106 6200 133500 SH DEFINED 01 133500 0 0 MEDTRONIC INC COM 585055106 1672 36000 SH DEFINED 02 36000 0 0 MEDTRONIC INC COM 585055106 3762 81000 SH DEFINED 03 81000 0 0 MEDTRONIC INC COM 585055106 2554 55000 SH DEFINED 04 55000 0 0 MERRILL LYNCH & CO. INC. COM 590188108 7274 93000 SH DEFINED 03 93000 0 0 MERRILL LYNCH & CO. INC. COM 590188108 3011 38500 SH DEFINED 04 38500 0 0 MICROSOFT CORP COM 594918104 5579 204000 SH DEFINED 01 204000 0 0 MICROSOFT CORP COM 594918104 2489 91000 SH DEFINED 02 91000 0 0 MICROSOFT CORP COM 594918104 3009 110000 SH DEFINED 03 110000 0 0 MICROSOFT CORP COM 594918104 12253 448000 SH DEFINED 04 448000 0 0 MORGAN STANLEY COM 617446448 656 9000 SH DEFINED 9000 0 0 MORGAN STANLEY COM 617446448 2771 38000 SH DEFINED 02 38000 0 0 MORGAN STANLEY COM 617446448 7874 108000 SH DEFINED 03 108000 0 0 MORGAN STANLEY COM 617446448 16842 231000 SH DEFINED 04 231000 0 0 MOTOROLA INC COM 620076109 1625 65000 SH DEFINED 65000 0 0 MOTOROLA INC COM 620076109 2175 87000 SH DEFINED 01 87000 0 0 MOTOROLA INC COM 620076109 750 30000 SH DEFINED 02 30000 0 0 MOTOROLA INC COM 620076109 1975 79000 SH DEFINED 03 79000 0 0 MOTOROLA INC COM 620076109 4150 166000 SH DEFINED 04 166000 0 0 MOTOROLA INC COM 620076109 1075 43000 SH DEFINED 05 43000 0 0 NETGEAR INC COMMON COM 64111Q104 1400 68000 SH DEFINED 01 68000 0 0 NETGEAR INC COMMON COM 64111Q104 3603 175000 SH DEFINED 02 175000 0 0 NISOURCE INC COM 65473P105 5065 233000 SH DEFINED 03 233000 0 0 NORDSTROM INC COM 655664100 1417 33500 SH DEFINED 02 33500 0 0 NORDSTROM INC COM 655664100 2030 48000 SH DEFINED 03 48000 0 0 NORDSTROM INC COM 655664100 2115 50000 SH DEFINED 04 50000 0 0 OMNICOM GROUP COM 681919106 2808 30000 SH DEFINED 02 30000 0 0 OMNICOM GROUP COM 681919106 4306 46000 SH DEFINED 03 46000 0 0 OMNICOM GROUP COM 681919106 1264 13500 SH DEFINED 04 13500 0 0 OMNICOM GROUP COM 681919106 2153 23000 SH DEFINED 05 23000 0 0 ORACLE CORPORATION COM 68389X105 2892 163000 SH DEFINED 03 163000 0 0 ORACLE CORPORATION COM 68389X105 2626 148000 SH DEFINED 04 148000 0 0 PACCAR INC COM 693718108 10112 177350 SH DEFINED 177350 0 0 PEPSICO INC COM 713448108 2969 45500 SH DEFINED 01 45500 0 0 PEPSICO INC COM 713448108 2219 34000 SH DEFINED 03 34000 0 0 PEPSICO INC COM 713448108 5058 77500 SH DEFINED 04 77500 0 0 PEPSICO INC COM 713448108 685 10500 SH DEFINED 05 10500 0 0 PFIZER INC COM 717081103 2689 94800 SH DEFINED 94800 0 0 PFIZER INC COM 717081103 6523 230000 SH DEFINED 01 230000 0 0 PFIZER INC COM 717081103 5014 176800 SH DEFINED 02 176800 0 0 PFIZER INC COM 717081103 6211 219000 SH DEFINED 03 219000 0 0 PFIZER INC COM 717081103 13114 462400 SH DEFINED 04 462400 0 0 PFIZER INC COM 717081103 2042 72000 SH DEFINED 05 72000 0 0 PRECISION CAST PARTS COM 740189105 2372 37550 SH DEFINED 02 37550 0 0 PRECISION CAST PARTS COM 740189105 4086 64700 SH DEFINED 03 64700 0 0 PRECISION CAST PARTS COM 740189105 2264 35850 SH DEFINED 04 35850 0 0 PROCTOR & GAMBLE CO COM 742718109 2436 39300 SH SOLE 39300 0 0 PROCTOR & GAMBLE CO COM 742718109 1240 20000 SH DEFINED 01 20000 0 0 PROCTOR & GAMBLE CO COM 742718109 3874 62500 SH DEFINED 02 62500 0 0 PROCTOR & GAMBLE CO COM 742718109 2386 38500 SH DEFINED 04 38500 0 0 QUALCOMM INC COM 747525103 1363 37500 SH DEFINED 01 37500 0 0 QUALCOMM INC COM 747525103 1781 49000 SH DEFINED 02 49000 0 0 QUALCOMM INC COM 747525103 2690 74000 SH DEFINED 03 74000 0 0 QUALCOMM INC COM 747525103 742 20400 SH DEFINED 05 20400 0 0 SAP AG-SPONSORED ADR COM 803054204 2376 48000 SH DEFINED 48000 0 0 SAP AG-SPONSORED ADR COM 803054204 1139 23000 SH DEFINED 01 23000 0 0 SAP AG-SPONSORED ADR COM 803054204 3292 66500 SH DEFINED 02 66500 0 0 SOUTHERN CO COM 842587107 862 25000 SH DEFINED 25000 0 0 SOUTHERN CO COM 842587107 3618 105000 SH DEFINED 02 105000 0 0 SOUTHERN CO COM 842587107 2412 70000 SH DEFINED 03 70000 0 0 SOUTHERN CO COM 842587107 11303 328000 SH DEFINED 04 328000 0 0 SOUTHERN CO COM 842587107 1620 47000 SH DEFINED 05 47000 0 0 SPRINT NEXTEL CORP COM 852061100 686 40000 SH DEFINED 01 40000 0 0 SPRINT NEXTEL CORP COM 852061100 1252 73000 SH DEFINED 02 73000 0 0 SPRINT NEXTEL CORP COM 852061100 823 48000 SH DEFINED 03 48000 0 0 SPRINT NEXTEL CORP COM 852061100 1886 110000 SH DEFINED 04 110000 0 0 SPRINT NEXTEL CORP COM 852061100 480 28000 SH DEFINED 05 28000 0 0 STARBUCKS CORP COM 855244109 1294 38000 SH DEFINED 02 38000 0 0 STARBUCKS CORP COM 855244109 2724 80000 SH DEFINED 03 80000 0 0 SYSCO CORP COM 871829107 1004 30000 SH DEFINED 30000 0 0 SYSCO CORP COM 871829107 4683 140000 SH DEFINED 02 140000 0 0 SYSCO CORP COM 871829107 9199 275000 SH DEFINED 04 275000 0 0 TARGET CORP COM 87612E106 1050 19000 SH DEFINED 01 19000 0 0 TARGET CORP COM 87612E106 9133 165300 SH DEFINED 02 165300 0 0 TARGET CORP COM 87612E106 7238 131000 SH DEFINED 04 131000 0 0 TEXAS INSTRUMENTS INC COM 882508104 1131 34000 SH DEFINED 34000 0 0 TEXAS INSTRUMENTS INC COM 882508104 6151 185000 SH DEFINED 01 185000 0 0 TEXAS INSTRUMENTS INC COM 882508104 3990 120000 SH DEFINED 02 120000 0 0 TEXAS INSTRUMENTS INC COM 882508104 2062 62000 SH DEFINED 03 62000 0 0 TEXAS INSTRUMENTS INC COM 882508104 599 18000 SH DEFINED 04 18000 0 0 TEXAS INSTRUMENTS INC COM 882508104 1962 59000 SH DEFINED 05 59000 0 0 U.S. BANCORP COM 902973304 1710 51484 SH DEFINED 51484 0 0 U.S. BANCORP COM 902973304 7313 220149 SH DEFINED 02 220149 0 0 U.S. BANCORP COM 902973304 3029 91167 SH DEFINED 03 91167 0 0 U.S. BANCORP COM 902973304 7215 217200 SH DEFINED 04 217200 0 0 U.S. BANCORP COM 902973304 1163 35000 SH DEFINED 05 35000 0 0 UNION PACIFIC CORP COM 907818108 1144 13000 SH DEFINED 13000 0 0 UNION PACIFIC CORP COM 907818108 1320 15000 SH DEFINED 01 15000 0 0 UNION PACIFIC CORP COM 907818108 792 9000 SH DEFINED 02 9000 0 0 UNION PACIFIC CORP COM 907818108 2552 29000 SH DEFINED 03 29000 0 0 UNION PACIFIC CORP COM 907818108 2552 29000 SH DEFINED 05 29000 0 0 UNITED PARCEL SERVICE - CL B COM 911312106 5755 80000 SH DEFINED 02 80000 0 0 UNITED PARCEL SERVICE - CL B COM 911312106 935 13000 SH DEFINED 03 13000 0 0 UNITED PARCEL SERVICE - CL B COM 911312106 1439 20000 SH DEFINED 05 20000 0 0 UNITED TECHNOLOGIES COM 913017109 1901 30000 SH DEFINED 30000 0 0 UNITED TECHNOLOGIES COM 913017109 1520 24000 SH DEFINED 01 24000 0 0 UNITED TECHNOLOGIES COM 913017109 5702 90000 SH DEFINED 03 90000 0 0 UNITED TECHNOLOGIES COM 913017109 20842 329000 SH DEFINED 04 329000 0 0 VERIZON COMMUNICATIONS COM 92343V104 401 10800 SH DEFINED 10800 0 0 VERIZON COMMUNICATIONS COM 92343V104 277 7472 SH DEFINED 02 7472 0 0 VERIZON COMMUNICATIONS COM 92343V104 11474 309012 SH DEFINED 04 309012 0 0 WACHOVIA CORP COM 929903102 5022 90000 SH SOLE 90000 0 0 WACHOVIA CORP COM 929903102 837 15000 SH DEFINED 15000 0 0 WACHOVIA CORP COM 929903102 3348 60000 SH DEFINED 01 60000 0 0 WACHOVIA CORP COM 929903102 5580 100000 SH DEFINED 02 100000 0 0 WACHOVIA CORP COM 929903102 5971 107000 SH DEFINED 04 107000 0 0 WAL-MART STORES INC COM 931142103 888 18000 SH DEFINED 18000 0 0 WAL-MART STORES INC COM 931142103 1529 31000 SH DEFINED 01 31000 0 0 WAL-MART STORES INC COM 931142103 2861 58000 SH DEFINED 03 58000 0 0 WAL-MART STORES INC COM 931142103 5869 119000 SH DEFINED 04 119000 0 0 WAL-MART STORES INC COM 931142103 1332 27000 SH DEFINED 05 27000 0 0 WASHINGTON MUTUAL INC COM 939322103 12485 287214 SH SOLE 287214 0 0 WASHINGTON MUTUAL INC COM 939322103 2174 50000 SH DEFINED 01 50000 0 0 WELLS FARGO & CO COM 949746101 6295 174000 SH DEFINED 01 174000 0 0 WELLS FARGO & CO COM 949746101 7236 200000 SH DEFINED 02 200000 0 0 WELLS FARGO & CO COM 949746101 3690 102000 SH DEFINED 03 102000 0 0 WELLS FARGO & CO COM 949746101 11650 322000 SH DEFINED 04 322000 0 0 WELLS FARGO & CO COM 949746101 2171 60000 SH DEFINED 05 60000 0 0 WEYERHAEUSER CO COM 962166104 3569 58000 SH DEFINED 01 58000 0 0 WEYERHAEUSER CO COM 962166104 2707 44000 SH DEFINED 02 44000 0 0 WEYERHAEUSER CO COM 962166104 1169 19000 SH DEFINED 03 19000 0 0 WEYERHAEUSER CO COM 962166104 2154 35000 SH DEFINED 04 35000 0 0 WYETH COM 983024100 1525 30000 SH DEFINED 30000 0 0 WYETH COM 983024100 2440 48000 SH DEFINED 01 48000 0 0 WYETH COM 983024100 539 10600 SH DEFINED 02 10600 0 0 WYETH COM 983024100 7748 152400 SH DEFINED 03 152400 0 0 WYETH COM 983024100 305 6000 SH DEFINED 04 6000 0 0 WYETH COM 983024100 3559 70000 SH DEFINED 05 70000 0 0 INGERSOLL-RAND CL-A COM G4776G101 4937 130000 SH DEFINED 01 130000 0 0 INGERSOLL-RAND CL-A COM G4776G101 5773 152000 SH DEFINED 02 152000 0 0