13F-HR 1 k13f-033106.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: 03/31/06 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: Kopp Investment Advisors, LLC Address: 7701 France Ave. So., Suite 500 Edina, MN 55435 Form 13F File Number: 28-03099 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: John P. Flakne Title: Chief Financial Officer Phone: (952) 841-0400 Signature, Place and Date of Signing: Edina, MN 5/8/06 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).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 238 Form 13F Information Table Value Total: $ 1,629,715 (thousands) List of Other Included Managers: NONE 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ADC Telecomm COM 000886309 15354 600000 SH SOLE 600000 31826 1243706 SH OTHER 940883 302823 Actuate Corp. COM 00508B102 319 75000 SH OTHER 75000 Adept Tech Inc. COM 006854202 2895 289549 SH SOLE 289549 5298 529761 SH OTHER 177761 352000 Aeroflex Inc. COM 007768104 281 20500 SH OTHER 20500 Array Biopharma Inc. COM 04269X105 10968 1200000 SH SOLE 1200000 24825 2716120 SH OTHER 2057420 658700 Arthrocare Corp. COM 043136100 10520 220000 SH SOLE 220000 29299 612700 SH OTHER 455950 156750 Bookham Inc. COM 09856E105 477 50000 SH SOLE 50000 8730 915110 SH OTHER 785460 129650 Caliper Life Sciences COM 130872104 7040 1100000 SH SOLE 1100000 10442 1631530 SH OTHER 1189530 442000 Cell Genesys Inc. COM 150921104 15960 2000000 SH SOLE 2000000 29902 3747090 SH OTHER 2520490 1226600 Centillium Comm COM 152319109 4979 1300000 SH SOLE 1300000 3822 997800 SH OTHER 825100 172700 Cepheid Inc. COM 15670R107 5496 600000 SH SOLE 600000 18214 1988390 SH OTHER 1502090 486300 Cognos Inc. (Canada) COM 19244C109 9818 252378 SH OTHER 213528 38850 Conexant Systems COM 207142100 2692 780224 SH OTHER 556324 223900 Curagen Corp. COM 23126R101 1453 290000 SH SOLE 290000 5017 1001330 SH OTHER 468530 532800 Cutera Inc. COM 232109108 5424 200000 SH SOLE 200000 8004 295150 SH OTHER 239425 55725 Cyberoptics Corp. COM 232517102 1497 100000 SH SOLE 100000 6433 429700 SH OTHER 299250 130450 Depomed Inc. COM 249908104 7510 1150000 SH SOLE 1150000 18309 2803870 SH OTHER 2040020 763850 Dexcom Inc. COM 252131107 5068 250000 SH SOLE 250000 17026 839975 SH OTHER 724575 115400 Digimarc Corp. COM 253807101 7470 1000000 SH SOLE 1000000 8568 1146993 SH OTHER 751493 395500 Diversa Corp. COM 255064107 12468 1368650 SH OTHER 1070550 298100 E-Z-EM Inc. COM 269305405 6661 297500 SH SOLE 297500 11287 504115 SH OTHER 449515 54600 EMS Technologies Inc. COM 26873N108 12155 674144 SH OTHER 420269 253875 Emcore Corp. COM 290846104 1338 131200 SH OTHER 27200 104000 Epicor Software Corp. COM 29426L108 17459 1300000 SH SOLE 1300000 39003 2904192 SH OTHER 873092 2031100 Finisar Corp. COM 31787A101 19680 4000000 SH SOLE 4000000 36575 7433855 SH OTHER 5482355 1951500 Gen-Probe Inc. COM 36866T103 5512 100000 SH SOLE 100000 474 8600 SH OTHER 6950 1650 Glenayre Technologies COM 377899109 3058 582500 SH OTHER 160500 422000 Harvard Bioscience COM 416906105 1238 282040 SH SOLE 282040 8242 1877430 SH OTHER 1258730 618700 Hyperion Solutions COM 44914M104 11410 350000 SH SOLE 350000 21092 646981 SH OTHER 480908 166073 Informatica Corp. COM 45666Q102 15876 1020985 SH OTHER 877885 143100 Iris Intl Inc COM 46270W105 7656 489815 SH OTHER 437415 52400 JDS Uniphase Corp. COM 46612J101 321 76864 SH OTHER 66864 10000 Lecroy Corp. COM 52324W109 1576 100721 SH OTHER 80821 19900 Lightbridge Inc. COM 532226107 4148 373700 SH OTHER 315400 58300 Lionbridge Tech COM 536252109 5708 721620 SH OTHER 654320 67300 MRO Software Inc. COM 55347W105 5905 370000 SH SOLE 370000 16431 1029525 SH OTHER 875225 154300 Mapinfo Corp. COM 565105103 11216 800000 SH SOLE 800000 14704 1048784 SH OTHER 643084 405700 Medarex Inc. COM 583916101 19830 1500000 SH SOLE 1500000 47940 3626320 SH OTHER 2694470 931850 Micrel Inc. COM 594793101 2453 165550 SH OTHER 139950 25600 Micro Component Tech COM 59479Q100 546 1138212 SH OTHER 79712 1058500 Mindspeed Tech COM 602682106 7960 2000000 SH SOLE 2000000 23883 6000844 SH OTHER 4448036 1552808 Neose Tech Inc. COM 640522108 6775 2500000 SH SOLE 2500000 10966 4046520 SH OTHER 2768470 1278050 Netmanage Inc. COM 641144308 1871 311765 SH OTHER 3223 308542 Network Equipment COM 641208103 2661 670278 SH OTHER 97848 572430 Neurocrine Biosciences COM 64125C109 10107 156605 SH OTHER 132555 24050 Nortel Network (New) COM 656568102 497 162900 SH OTHER 2900 160000 Nuvasive Inc COM 670704105 9425 500000 SH SOLE 500000 27789 1474244 SH OTHER 1269884 204360 Oplink Communications COM 68375Q403 13005 750000 SH SOLE 750000 14852 856542 SH OTHER 519958 336584 PLX Technology COM 693417107 5020 400000 SH SOLE 400000 22597 1800525 SH OTHER 1514160 286365 PMC-Sierra Inc. COM 69344F106 3073 250000 SH SOLE 250000 5401 439455 SH OTHER 270555 168900 Pemstar Inc. COM 706552196 21 10000 SH OTHER 10000 Phase Forward Inc. COM 71721R406 5570 500000 SH SOLE 500000 21575 1936690 SH OTHER 1658590 278100 Power Integrations Inc. COM 739276103 8043 324575 SH OTHER 277225 47350 Previo Inc. COM 74138B105 5 79700 SH OTHER 79700 Quicklogic Corp. COM 74837P108 6314 1100000 SH SOLE 1100000 7359 1282000 SH OTHER 615300 666700 Quidel Corp. COM 74838J101 3218 250000 SH SOLE 250000 26156 2032345 SH OTHER 1512195 520150 RAE Systems COM 75061P102 2142 600000 SH SOLE 600000 12024 3368050 SH OTHER 2651550 716500 RF Monolithics Inc. COM 74955F106 184 30000 SH SOLE 30000 1687 274800 SH OTHER 71300 203500 Redback Networks COM 757209507 33186 1530000 SH SOLE 1530000 74118 3417135 SH OTHER 2492296 924839 Regeneration Tech COM 75886n100 1172 150000 SH SOLE 150000 2282 292140 SH OTHER 261940 30200 Rita Medical Systems COM 76774E103 2568 650000 SH SOLE 650000 11509 2913555 SH OTHER 2554805 358750 Salix Pharmaceutical COM 795435106 3302 200000 SH SOLE 200000 11457 693935 SH OTHER 548331 145604 Sangamo Biosciences COM 800677106 6545 1100000 SH SOLE 1100000 20146 3385845 SH OTHER 2295645 1090200 Semtech Corp. COM 816850101 634 35425 SH OTHER 30825 4600 Skyworks Solutions COM 83088M102 466 68661 SH OTHER 64100 4561 SonoSite Inc. COM 83568G104 16256 400000 SH SOLE 400000 34000 836610 SH OTHER 660410 176200 Stratex Networks Inc. COM 86279T109 24600 4000000 SH SOLE 4000000 53069 8629069 SH OTHER 6253319 2375750 Sunrise Telecom COM 86769Y105 1144 508250 SH OTHER 394350 113900 Superconductor Tech COM 867931305 2547 640000 SH SOLE 640000 4968 1248192 SH OTHER 575892 672300 Symmetricon Inc. COM 871543104 14710 1720435 SH OTHER 1502835 217600 Symyx Technologies COM 87155S108 3606 130000 SH SOLE 130000 25757 928520 SH OTHER 662645 265875 Techne Corp. COM 878377100 6355 105666 SH OTHER 94491 11175 Tekelec COM 879101103 11087 801669 SH OTHER 683669 118000 Tellabs Inc. COM 879664100 930 58486 SH OTHER 50468 8018 Transgenomic Inc. COM 89365K206 2720 3400000 SH SOLE 3400000 5340 6675130 SH OTHER 4124630 2550500 Tut Systems Inc. COM 901103101 10263 3300000 SH SOLE 3300000 22959 7382428 SH OTHER 3908228 3474200 Ventana Medical COM 92276H106 3342 80000 SH SOLE 80000 21597 517038 SH OTHER 434838 82200 Verilink Corp. COM 923432108 1618 2420000 SH SOLE 2420000 1622 2424922 SH OTHER 1140665 1284257 Verint Systems COM 92343x100 1355 38300 SH OTHER 29750 8550 Verisign Inc. COM 92343E102 8876 370000 SH SOLE 370000 29600 1233855 SH OTHER 936665 297190 Vital Images COM 92846N104 3408 100000 SH SOLE 100000 20889 612945 SH OTHER 520470 92475 Vitesse Semiconductor COM 928497106 10740 3000000 SH SOLE 3000000 15913 4445088 SH OTHER 3113788 1331300 WJ Communications COM 929284107 7560 3000000 SH SOLE 3000000 19238 7634291 SH OTHER 4891441 2742850 Zymogenetics Inc. COM 98985T109 4324 200000 SH SOLE 200000 11743 543155 SH OTHER 481580 61575 3M Company 88579Y101 3887 51350 SH OTHER 42148 9202 Aflac Incorporated 001055102 425 9420 SH OTHER 9320 100 Air Prod & Chem 009158106 321 4780 SH OTHER 4780 Allstate Corp. 020002101 3952 75842 SH OTHER 62852 12990 American Express 025816109 3901 74230 SH OTHER 61260 12970 American Int'l Group 026874107 302 4570 SH OTHER 4570 Amgen Inc. (Calif) 031162100 482 6620 SH OTHER 6395 225 Anadarko Petroleum 032511107 317 3140 SH OTHER 3140 Anheuser Busch 035229103 377 8805 SH OTHER 8805 Applied Materials Inc 038222105 296 16880 SH OTHER 16880 Bankamerica Corp 060505104 4176 91699 SH OTHER 75989 15710 Baxter International 071813109 3855 99326 SH OTHER 81981 17345 Bemis Co Inc 081437105 335 10620 SH OTHER 10620 Best Buy Co. Inc. 086516101 334 5977 SH OTHER 5977 Black & Decker Corp. 091797100 483 5555 SH OTHER 5495 60 Boeing Company 097023105 520 6670 SH OTHER 6600 70 Boston Scientific Corp. 101137107 297 12895 SH OTHER 12895 Cardinal Health 14149Y108 755 10125 SH OTHER 9630 495 Caterpillar Inc. 149123101 749 10435 SH OTHER 9985 450 Cendant Corp 151313103 230 13245 SH OTHER 13245 Cisco System Inc. 17275R102 450 20760 SH OTHER 20360 400 Citigroup Inc 172967101 422 8945 SH OTHER 8880 65 Coach Inc. 189754104 303 8760 SH OTHER 8760 Computer Sciences 205363104 386 6945 SH OTHER 6945 ConocoPhillips 20825C104 308 4870 SH OTHER 4870 Constellation Energy 210371100 594 10860 SH OTHER 10385 475 Corning Inc. 219350105 332 12315 SH OTHER 12315 Countrywide Financial 222372104 297 8100 SH OTHER 8100 Dell Computer Corp 24702R101 219 7375 SH OTHER 7375 Dominion Res Inc. VA 25746U109 241 3485 SH OTHER 3485 Dow Chemical Co. 260543103 3647 89835 SH OTHER 74511 15324 Eastman Kodak Co. 277461109 1110 39014 SH OTHER 34254 4760 Eaton Corporation 278058102 340 4665 SH OTHER 4665 Ebay Inc. 278642103 268 6875 SH OTHER 6875 Emerson Electric Co. 291011104 424 5065 SH OTHER 5065 Entergy Corp New 29364G103 3688 53495 SH OTHER 44355 9140 Exxon Mobil 30231G102 3996 65660 SH OTHER 54555 11105 FedEx Corp. 31428X106 4431 39229 SH OTHER 32554 6675 Fifth Third Bancorp 316773100 568 14425 SH OTHER 14300 125 First Data Corp. 319963104 513 10950 SH OTHER 10835 115 General Electric Co. 369604103 355 10200 SH OTHER 10200 HCA Inc. 404119109 276 6030 SH OTHER 6030 Halliburton Company 406216101 530 7255 SH OTHER 7190 65 Harley Davidson Inc. 412822108 269 5190 SH OTHER 5190 Hershey Foods Corp. 427866108 311 5945 SH OTHER 5945 Home Depot Inc. 437076102 467 11040 SH OTHER 10920 120 Ingersoll-Rand G4776G101 285 6820 SH OTHER 6820 Intel Corp. 458140100 533 27391 SH OTHER 24491 2900 Intl. Business Machines 459200101 438 5305 SH OTHER 5245 60 Intuit Inc. 461202103 315 5920 SH OTHER 5920 Johnson & Johnson 478160104 3736 63083 SH OTHER 52138 10945 Johnson Controls Inc. 478366107 4541 59810 SH OTHER 49665 10145 Knight Ridder Inc. 499040103 574 9080 SH OTHER 9000 80 Lilly Eli & Co. 532457108 380 6870 SH OTHER 6870 Lockheed Martin 539830109 329 4380 SH OTHER 4380 Marriott Intl. Inc. 571903202 3937 57387 SH OTHER 47427 9960 Medtronic Inc. 585055106 664 13091 SH OTHER 11791 1300 Merrill Lynch & Co. 590188108 1281 16265 SH OTHER 14505 1760 Microsoft Corp. 594918104 1152 42335 SH OTHER 37070 5265 Monsanto Co. 61166W101 322 3805 SH OTHER 3805 Motorola Inc. 620076109 4271 186441 SH OTHER 154525 31916 National Semicond 637640103 366 13140 SH OTHER 13140 Noble Corp. G65422100 364 4490 SH OTHER 4490 Nordstrom Inc. 655664100 1110 28320 SH OTHER 25125 3195 Northern Trust 665859104 348 6625 SH OTHER 6625 Nucor Corp 670346105 899 8575 SH OTHER 8050 525 Oracle Systems Corp 68389X105 279 20380 SH OTHER 20380 PNC Finl Svcs Group 693475105 309 4595 SH OTHER 4595 Pepsico Inc. 713448108 1017 17605 SH OTHER 15550 2055 Pfizer Inc. 717081103 359 14410 SH OTHER 14410 Pitney Bowes Inc. 724479100 457 10645 SH OTHER 10525 120 Proctor & Gamble 742718109 3652 63375 SH OTHER 52670 10705 Progressive Corp 743315103 273 2620 SH OTHER 2620 Public Storage Inc. 74460d109 308 3790 SH OTHER 3790 Quest Diagnostics 74834L100 306 5970 SH OTHER 5970 S&P DRT Unit Ser 1 78462F103 440 3390 SH OTHER 2350 1040 Sara Lee Corp. 803111103 411 23005 SH OTHER 23005 Sempra Energy 816851109 288 6195 SH OTHER 6195 Simon Property Group 828806109 544 6460 SH OTHER 6400 60 Solectron Corp 834182107 651 162805 SH OTHER 154615 8190 Southern Company 842587107 280 8545 SH OTHER 8545 Southwest Airlines Co 844741108 331 18405 SH OTHER 18405 Sprint Nextel 852061100 325 12575 SH OTHER 12575 Staples Inc 855030102 335 13130 SH OTHER 13130 Starbucks Corp 855244109 361 9595 SH OTHER 9595 State Street Corp. 857477103 354 5860 SH OTHER 5860 Synovus Financial 87161C105 279 10290 SH OTHER 10290 Target Corp. 87612E106 317 6100 SH OTHER 5800 300 Texas Instruments Inc. 882508104 4158 128068 SH OTHER 105578 22490 Time Warner Inc. 887317105 258 15390 SH OTHER 15390 United Healthcare 91324P102 289 5165 SH OTHER 5165 Valero Energy 91913Y100 337 5630 SH OTHER 5630 Verizon Comm. 92343V104 493 14460 SH OTHER 14095 365 Wal-Mart Stores Inc. 931142103 470 9945 SH OTHER 9570 375 Walgreen Company 931422109 286 6630 SH OTHER 6630 Walt Disney 254687106 306 10977 SH OTHER 10977 Wells Fargo & Co. 949746101 430 6740 SH OTHER 6490 250 Weyerhaeuser Co. 962166104 479 6620 SH OTHER 6545 75 Whirlpool Corp 963320106 493 5395 SH OTHER 5395 Xcel Energy Inc. 98389B100 368 20290 SH OTHER 20290 Xerox Corp. 984121103 293 19290 SH OTHER 19290