13F-HR 1 dm09300613f-hrb.txt 3RD QUARTER 2006 13F-HR FILING 1 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 holding entries Salem Investment Counselors, Inc. Name of Institutional Investment Manager 480 Shepherd Street Winston-Salem NC 27103 Business Address (Street) (City) (State) (Zip) Dale M. Brown, President 336.768.7230 Name, Phone No.,and Title of Person Duly Authorized to Submit This Report. ATTENTION INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS. See 18 U.S.C. AND 15 U.S.C. 78ff(a) The institutional investment manager submitting this Form and its attachments and the person by whom it is signed represent hereby that all information contained therein is true, correct and complete. It is understood that all required items, statements and schedules are considered integral parts of this Form and that the submission of any amendment represents that all unamended items, statements and schedules remain true, correct and complete as previously submitted. Pursuant to the requirements of the Securities Exchange Act of 1934, the undersigned institutional investment manager has caused this report to be signed on its behalf in the City of Winston-Salem and State of North Carolina on the 20th day of October, 2006. Salem Investment Counselors, Inc. (Name of Institutional Investment Manager) /s/ DALE M. BROWN (Manual Signature of Person Duly Authorized To Submit This Report) Name and 13F file numbers of all Institutional Investment Managers with respect to which this schedule is filed (other than the one filing this report): (List in alphabetical order). 13F File Numbers will be assigned to Institutional Investment Managers after they file their first report. Name: 13F File No.: Name: <13F File No.: 1. 6. 2. 7. 3. 8. 4. 9. 5. 10. 2 FORM 13F SUMMARY PAGE REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY: 231 FORM 13F INFORMATION TABLE VALUE TOTAL: $620,876,813 3 FORM 13F Name of Reporting Manager: Salem Investment Counselors, Inc.
Item 1 Name of Issuer Item 2 Title of Class Item 3 Cusip Number Item 4 Fair Market Value Item 5 Shares of Principal Amount (a) Sole 3M Company Abbott Labs Activision, Inc. Acuity Brands, Inc. Alberto Culver Co. Cl A Alcon, Inc. Alexco Resource Corp. Alliance One International Alltell Corp. (AT) Altria Group, Inc. Ameren Corp. American Express Company American Intl. Group, Inc. Amgen Incorporated Anheuser Busch Company, Inc. Apache Corp. common common common common common common common common common common common common common common common common 88579Y101 2824100 4930202 00508Y102 13068101 H01301102 01535P106 18772103 20039103 02209S103 23608102 25816109 26874107 31162100 35229103 37411105 $10,992,355 $1,010,242 $4,989,010 $208,840 $215,008 $309,150 $859,630 $4,069,623 $277,056 $4,802,824 $229,637 $227,124 $3,434,985 $9,460,701 $532,587 $3,903,232 147,707 20,804 330,398 4,600 4,250 2,700 310,000 992,591 4,992 62,741 4,350 4,050 51,841 132,262 11,210 61,760 147,707 20,804 330,398 4,600 4,250 2,700 310,000 992,591 4,992 62,741 4,350 4,050 51,841 132,262 11,210 61,760
Item 1 Name of Issuer Item 6 (b) Shares as defined in Instr. V. Item 7 Managers See Instr. V. (a) Sole Item 8 (b) Shared (c) None 3M Company Abbott Labs Activision, Inc. Acuity Brands, Inc. Alberto Culver Co. Cl A Alcon, Inc. Alexco Resource Corp. Alliance One International Alltell Corp. (AT) Altria Group, Inc. Ameren Corp. American Express Company American Intl. Group, Inc. Amgen Incorporated Anheuser Busch Company, Inc. Apache Corp. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 147,707 20,804 330,398 4,600 4,250 2,700 310,000 992,591 4,992 62,741 4,350 4,050 51,841 132,262 11,210 61,760 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 Apple Computer Arbor Realty Tr., Inc. Arch Coal, Inc. Automatic Data Processing, Inc. Bank of America Corp. Bank of Carolinas; Mocksville NC Banner Corporation Barrick Gold Corp. BB&T Corporation Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A BHP Billiton Ltd. ADR Blackrock Broad Inv. 2009 Blackrock Core Bd. Trust Blackrock Incm. Opportunity TR Blackrock Income TR. Inc. Blackrock Insd Mun Term common common common common common common common common common common common common common common common common common 37833100 38923108 39380100 53015103 60505104 06423T102 06652V109 67901108 54937107 84670207 84670108 88606108 09247Q106 09249E101 92475102 09247F100 92474105 $938,617 $2,559,834 $404,740 $5,941,880 $28,494,954 $3,983,149 $322,780 $245,760 $4,660,556 $15,378,030 $2,395,000 $3,660,155 $594,186 $562,670 $641,983 $1,116,561 $247,416 12,193 100,150 14,000 125,515 531,920 244,515 7,865 8,000 106,454 4,845 25 96,625 38,785 43,483 61,375 182,150 25,350 12,193 100,150 14,000 125,515 531,920 244,515 7,865 8,000 106,454 4,845 25 96,625 38,785 43,483 61,375 182,150 25,350
Apple Computer Arbor Realty Tr., Inc. Arch Coal, Inc. Automatic Data Processing, Inc. Bank of America Corp. Bank of Carolinas; Mocksville NC Banner Corporation Barrick Gold Corp. BB&T Corporation Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A BHP Billiton Ltd. ADR Blackrock Broad Inv. 2009 Blackrock Core Bd. Trust Blackrock Incm. Opportunity TR Blackrock Income TR. Inc. Blackrock Insd Mun Term 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12,193 100,150 14,000 125,515 531,920 244,515 7,865 8,000 106,454 4,845 25 96,625 38,785 43,483 61,375 182,150 25,350 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 Blackrock Insd Muni 2008 Blackrock Invt. Qlty Muni Blackrock Ltd. Duration Blackrock Mini Bond TR Blackrock Mun 2018 Fd. Blackrock Muni Target Term Blackrock N Y Insd 2008 Blackrock Pfd. Opportunity Tr Blackrock Strat. Muni Tr Blackrock Strategic Bond BNP Residential Property, Inc. BP Amoco PLC ADR Cameco Corp. Canadian Nat. Res. Ltd. Capital Bank Corp. Capital One Financial Corp. Cardinal Health, Inc. common common common common common common common common common common common common common common common common common 09247K109 09247D105 09249W101 09249H104 09248C106 09247M105 09247L107 09249V103 09248T109 09249G106 5564T103 55622104 13321L108 136385101 139793103 14040H105 14149Y108 $1,353,150 $901,655 $722,916 $247,455 $501,420 $1,274,340 $704,970 $2,641,280 $858,313 $559,223 $456,000 $1,570,772 $857,932 $966,296 $2,564,978 $15,182,573 $331,987 87,300 48,450 38,700 14,100 30,500 126,800 47,250 103,175 49,300 43,250 19,200 23,952 23,460 21,200 144,914 193,015 5,050 87,300 48,450 38,700 14,100 30,500 126,800 47,250 103,175 49,300 43,250 19,200 23,952 23,460 21,200 144,914 193,015 5,050
Blackrock Insd Muni 2008 Blackrock Invt. Qlty Muni Blackrock Ltd. Duration Blackrock Mini Bond TR Blackrock Mun 2018 Fd. Blackrock Muni Target Term Blackrock N Y Insd 2008 Blackrock Pfd. Opportunity Tr Blackrock Strat. Muni Tr Blackrock Strategic Bond BNP Residential Property, Inc. BP Amoco PLC ADR Cameco Corp. Canadian Nat. Res. Ltd. Capital Bank Corp. Capital One Financial Corp. Cardinal Health, Inc. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 87,300 48,450 38,700 14,100 30,500 126,800 47,250 103,175 49,300 43,250 19,200 23,952 23,460 21,200 144,914 193,015 5,050 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 Caremark RX, Inc. Caterpillar, Inc. Chevron Texaco Corporation Choicepoint, Inc. Cincinnati Financial Corp Cisco Systems, Inc. Citigroup, Inc. Coca-Cola Company Coddle Creek Financial Inc Cold Spring Capital Inc. Colgate-Palmolive Co. Comarco, Inc. CommScope, Inc. Community Bancshares, Inc. SC ConocoPhillips Constellation Energy Group Cooperative Bankshares, Inc. common common common common common common common common common common common common common common common common common 141705103 149123101 166764100 170388102 172062101 17275R102 172967101 191216100 191891209 192865103 194162103 200080109 203372107 20343F190 20825C104 210371100 216844100 $269,183 $293,139 $1,134,142 $1,074,000 $730,077 $10,887,327 $12,402,564 $1,263,863 $608,025 $214,800 $5,826,222 $1,176,803 $885,577 $1,351,936 $931,362 $260,480 $545,400 4,750 4,455 17,486 30,000 15,172 473,774 249,699 28,287 20,100 40,000 93,820 132,225 26,950 81,491 15,645 4,400 30,000 4,750 4,455 17,486 30,000 15,172 473,774 249,699 28,287 20,100 40,000 93,820 132,225 26,950 81,491 15,645 4,400 30,000
Caremark RX, Inc. Caterpillar, Inc. Chevron Texaco Corporation Choicepoint, Inc. Cincinnati Financial Corp Cisco Systems, Inc. Citigroup, Inc. Coca-Cola Company Coddle Creek Financial Inc Cold Spring Capital Inc. Colgate-Palmolive Co. Comarco, Inc. CommScope, Inc. Community Bancshares, Inc. SC ConocoPhillips Constellation Energy Group Cooperative Bankshares, Inc. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4,750 4,455 17,486 30,000 15,172 473,774 249,699 28,287 20,100 40,000 93,820 132,225 26,950 81,491 15,645 4,400 30,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 Countrywide Financial Crystal River Capital, Inc. CVS Corp. D. R. Horton Company Dell, Inc. Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt Company Dominion Resources Inc. - VA Duke Energy Corporation Dupont de nemours E.I. Eaton Corp Ebay, Inc. EMC Corp. MASS Emerson Electric Encana Corp. Encore Wire Corp. common common common common common common common common common common common common common common common common common 222372104 229393301 126650100 23331A109 24702R101 249030107 25179M103 254687106 25746U109 264399106 263534109 278058102 278642103 268648102 291011104 292505104 292562105 $602,688 $1,029,600 $663,278 $4,727,251 $2,331,050 $361,320 $7,534,111 $4,709,942 $227,558 $2,286,865 $205,975 $320,015 $309,124 $147,342 $577,292 $317,492 $1,623,340 17,200 45,000 20,650 197380 102,060 12,000 119,305 152,376 2,975 75,724 4,808 4,648 10,900 12,299 6,884 6,800 46,000 17,200 45,000 20,650 197380 102,060 12,000 119,305 152,376 2,975 75,724 4,808 4,648 10,900 12,299 6,884 6,800 46,000
Countrywide Financial Crystal River Capital, Inc. CVS Corp. D. R. Horton Company Dell, Inc. Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt Company Dominion Resources Inc. - VA Duke Energy Corporation Dupont de nemours E.I. Eaton Corp Ebay, Inc. EMC Corp. MASS Emerson Electric Encana Corp. Encore Wire Corp. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17,200 45,000 20,650 197380 102,060 12,000 119,305 152,376 2,975 75,724 4,808 4,648 10,900 12,299 6,884 6,800 46,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 Eurozinc Mining Corp. Exactech, Inc. Exxon Mobile Corporation F N B Financial Services Corp. Falconstor Software, Inc. Fedex Corporation Fidelity National Info. Services First Citizens Bancshares CL A First Data Corporation First INDL RLTY TR, Inc. Fiserv, Inc. FNB Financial Services Forest Oil Corp. FX Energy, Inc. Genentech, Inc. New General Dynamics Corp. General Electric Company common common common common common common common common common common common common common common common common common 298804105 30064 109 302290101 302526108 306137100 31428X106 31620M106 31946M103 319963104 32054K103 337738108 302526108 346091705 302695101 368710406 369550108 369604103 $2,659,629 $443,950 $4,379,282 $149,344 $9,148,139 $249,964 $891,700 $1,701,172 $2,773,890 $1,258,400 $211,905 $202,813 $1,142,768 $5,560,811 $827,000 $301,014 $18,831,857 1,081,150 32,500 65,265 10,125 1,189,615 2,300 24,100 8,902 66,045 28,600 4,500 13,750 36,175 1,090,355 10,000 4,200 533,480 1,081,150 32,500 65,265 10,125 1,189,615 2,300 24,100 8,902 66,045 28,600 4,500 13,750 36,175 1,090,355 10,000 4,200 533,480
Eurozinc Mining Corp. Exactech, Inc. Exxon Mobile Corporation F N B Financial Services Corp. Falconstor Software, Inc. Fedex Corporation Fidelity National Info. Services First Citizens Bancshares CL A First Data Corporation First INDL RLTY TR, Inc. Fiserv, Inc. FNB Financial Services Forest Oil Corp. FX Energy, Inc. Genentech, Inc. New General Dynamics Corp. General Electric Company 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,081,150 32,500 65,265 10,125 1,189,615 2,300 24,100 8,902 66,045 28,600 4,500 13,750 36,175 1,090,355 10,000 4,200 533,480 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 Given Imaging Glaxo Smith Kline PLC Golden Star Res. Ltd Goldman Sachs Group, Inc. Google, Inc. CL A Harley Davidson, Inc. Hewlet-Packard Company Highwood Properties, Inc. Home Depot, Inc. Houston Exploration Co. Hubbell Inc. Class B Hudson City Bancorp, Inc. Intel Corp International Business Machines Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Eafe Index common common common common common common common common common common common common common common common common common M52020100 37733W105 38119T104 38141G104 38259P508 412822108 428236103 431284108 437076102 442120101 443510201 443683107 458140100 459200101 464287184 464287176 464287465 $3,349,665 $399,012 $32,965 $338,340 $1,687,980 $254,012 $633,783 $4,045,843 $288,165 $887,915 $581,746 $8,290,737 $6,665,409 $249,917 $4,282,671 $343,910 $4,508,763 175,467 7,496 12,075 2,000 4,200 4,048 17,274 108,730 7,945 16,100 12,145 625,716 324,035 3,050 52,645 3,400 66,550 175,467 7,496 12,075 2,000 4,200 4,048 17,274 108,730 7,945 16,100 12,145 625,716 324,035 3,050 52,645 3,400 66,550
Given Imaging Glaxo Smith Kline PLC Golden Star Res. Ltd Goldman Sachs Group, Inc. Google, Inc. CL A Harley Davidson, Inc. Hewlet-Packard Company Highwood Properties, Inc. Home Depot, Inc. Houston Exploration Co. Hubbell Inc. Class B Hudson City Bancorp, Inc. Intel Corp International Business Machines Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Eafe Index 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 175,467 7,496 12,075 2,000 4,200 4,048 17,274 108,730 7,945 16,100 12,145 625,716 324,035 3,050 52,645 3,400 66,550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Ishares MSCI Emerging Ishares MSCI EMU Index Fund Ishares MSCI Japan Index Ishares MSCI Pacific Ex-Jap Idx Fd Ishares NASDAQ Biotech Indx Fund Ishares S&P GLB ERG Sect Ishares S&P GLB Health Care Ishares T DJ US UTL S FD Ishares TR Russell Midcp Indx Fund Johnson & Johnson Kellogg Company Kinetic Concepts, Inc. L-3 Communications Holdings, Inc. Lab CP of America Holding New Lauder, Estee Co., Inc. CL A Level 3 Communications, Inc. Lilly, Eli & Co. common common common common common common common common common common common common common common common common common 464287234 464286608 464286848 464286665 464287556 464287341 464287325 464287697 464287499 478160104 487836108 49460W208 502424104 50540R409 518439104 52729N100 532457108 $6,374,240 $423,855 $1,982,256 $510,370 $656,642 $1,005,578 $479,892 $265,216 $322,179 $15,938,106 $4,728,417 $2,045,057 $6,281,866 $203,267 $201,650 $128,400 $270,750 65,870 4,500 146,400 4,600 8,900 9,800 8,400 3,200 3,455 245,428 95,485 65,005 80,197 3,100 5,000 24,000 4,750 65,870 4,500 146,400 4,600 8,900 9,800 8,400 3,200 3,455 245,428 95,485 65,005 80,197 3,100 5,000 24,000 4,750
Ishares MSCI Emerging Ishares MSCI EMU Index Fund Ishares MSCI Japan Index Ishares MSCI Pacific Ex-Jap Indx Fd Ishares NASDAQ Biotech Index Fd Ishares S&P GLB ERG Sect Ishares S&P GLB Health Care Ishares T DJ US UTL S FD Ishares TR Russell Midcap Indx Fd Johnson & Johnson Kellogg Company Kinetic Concepts, Inc. L-3 Communications Holdings, Inc. Lab CP of America Holding New Lauder, Estee Co., Inc. CL A Level 3 Communications, Inc. Lilly, Eli & Co. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 65,870 4,500 146,400 4,600 8,900 9,800 8,400 3,200 3,455 245,428 95,485 65,005 80,197 3,100 5,000 24,000 4,750 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Lincoln National Corp. Linn Energy Lowes Companies Inc. Magnetbank Max Re Capital Ltd. McDonalds Corporation Medtronic, Inc. Merck & Co. Merrill Lynch & Co., Inc. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Nabors Industries Ltd. Neteller PLC NewMarket Corporation Nokia Corp. NovaGold Resources, Inc. common common common common common common common common common common common common common common common common common 534187109 536020100 548661107 559404108 G6052F103 580135101 585055106 589331107 590188108 591520200 592688105 594918104 G6359F103 G64549101 651587107 654902204 66987E206 $950,321 $692,960 $17,071,455 $200,000 $1,031,478 $2,151,600 $5,795,573 $3,574,028 $367,008 $171,180 $601,965 $16,089,381 $208,250 $182,911 $1,201,876 $7,975,021 $22,407,328 15,308 30,500 608,391 20,000 44,925 55,000 124,797 85,299 4,692 18,000 9,100 588,277 7,000 27,700 20,665 405,029 1,428,128 15,308 30,500 608,391 20,000 44,925 55,000 124,797 85,299 4,692 18,000 9,100 588,277 7,000 27,700 20,665 405,029 1,428,128
Lincoln National Corp. Linn Energy Lowes Companies Inc. Magnetbank Max Re Capital Ltd. McDonalds Corporation Medtronic, Inc. Merck & Co. Merrill Lynch & Co., Inc. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Nabors Industries Ltd. Neteller PLC NewMarket Corporation Nokia Corp. NovaGold Resources, Inc. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15,308 30,500 608,391 20,000 44,925 55,000 124,797 85,299 4,692 18,000 9,100 588,277 7,000 27,700 20,665 405,029 1,428,128 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 Novogen Limited Sponsored ADR Nuveen Conn Prem. Inc. Muni. Fund Nuveen CT Div Ad Muni Fd Conn Fd 2 Nuveen CT Div Ad Muni Fd Conn Nuveen Divid Ad Mun Fd. 2 Nuveen Muni Advantage Fund Nuveen NC Div AD Muni Fund NC Nuveen NC Div AD Muni Fund NC Nuveen Quality Pfd Incm Fd Nuveen Real Estate Inc. Fund Nuveen Select Tax Free Inc Portfolio 3 Oil Service Holders Dep. RCPT Old Rep. Intl. Corp. Palm, Inc. Pepsico, Inc. PetroChina Co. ADR Petrohawk Energy Corp. common common common common common common common common common common common common common common common common common 67010F103 67060D107 67071R103 67069T103 67070F100 67062H106 67072D103 67071D104 67071S101 67071B108 67063X100 678002106 680223104 696643105 713448108 71646E100 716495106 $615,438 $262,260 $247,260 $328,050 $208,625 $314,400 $814,821 $660,060 $501,550 $1,054,956 $149,600 $1,033,216 $756,888 $1,456,233 $22,994,035 $3,319,926 $2,690,376 53,750 18,000 15,600 22,500 12,500 20,000 56,350 43,425 35,000 39,900 11,000 7,957 34,171 100,016 352,345 30,840 258,690 53,750 18,000 15,600 22,500 12,500 20,000 56,350 43,425 35,000 39,900 11,000 7,957 34,171 100,016 352,345 30,840 258,690
Novogen Limited Sponsored ADR Nuveen Conn Prem. Inc. Muni. Fund Nuveen CT Div Ad Muni Fd Conn Fd 2 Nuveen CT Div Ad Muni Fd Conn Nuveen Divid Ad Mun Fd. 2 Nuveen Muni Advantage Fund Nuveen NC Div AD Muni Fund NC Nuveen NC Div AD Muni Fund NC Nuveen Quality Pfd Incm Fd Nuveen Real Estate Inc. Fund Nuveen Select Tax Free Inc Portfolio 3 Oil Service Holders Dep. RCPT Old Rep. Intl. Corp. Palm, Inc. Pepsico, Inc. PetroChina Co. ADR Petrohawk Energy Corp. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 53,750 18,000 15,600 22,500 12,500 20,000 56,350 43,425 35,000 39,900 11,000 7,957 34,171 100,016 352,345 30,840 258,690 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13 Pfizer, Inc. PG&E Corp. Pioneer Natural Res. Co. Polaris Industries, Inc. Praxair Procter & Gamble Progress Energy, Inc. Provident Bankshares Corp Regions Financial Corp. Republic Property Trust Republic Services, Inc. Sara Lee Corporation Schering-Plough Corp Security Bank Corp. ServiceMaster Co. Sirius Satellite Radio Sonoco Products common common common common common common common common common common common common common common common common common 717081103 69331C108 723787107 731068102 74005P104 742718109 743263105 743859100 758940100 760737106 760759100 803111103 806605101 814047106 81760N109 82966U103 835495102 $10,903,674 $270,725 $429,342 $493,800 $328,338 $14,459,705 $283,807 $1,083,861 $329,712 $1,840,340 $241,260 $209,167 $227,969 $4,968,751 $4,042,485 $82,320 $4,367,818 384,474 6,500 10,975 12,000 5,550 233,296 6,254 29,254 8,962 167,000 6,000 13,016 10,320 219,759 360,614 21,000 129,840 384,474 6,500 10,975 12,000 5,550 233,296 6,254 29,254 8,962 167,000 6,000 13,016 10,320 219,759 360,614 21,000 129,840
Pfizer, Inc. PG&E Corp. Pioneer Natural Res. Co. Polaris Industries, Inc. Praxair Procter & Gamble Progress Energy, Inc. Provident Bankshares Corp Regions Financial Corp. Republic Property Trust Republic Services, Inc. Sara Lee Corporation Schering-Plough Corp Security Bank Corp. ServiceMaster Co. Sirius Satellite Radio Sonoco Products 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 384,474 6,500 10,975 12,000 5,550 233,296 6,254 29,254 8,962 167,000 6,000 13,016 10,320 219,759 360,614 21,000 129,840 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
14 Southcoast Financial Corp. Southern Community Financial Sprint Nextel Corp. Starbucks Corp. Stericycle, Inc. Suncor Energy, Inc. Suntrust Banks, Inc. SVB Financial Group, Inc. Sysco Corporation T H Q, Inc. T S B Financial Corp. Take Two Interactv Software Target Corporation TCF Financial Corp Teva Pharmaceutical Texas Instruments Thermogenesis Corp. common common common common common common common common common common common common common common common common common 84129R100 842632101 852061100 855244109 858912108 867229106 867914103 78486Q101 871829107 872443403 872805106 874054109 87612E106 872275102 881624209 882508104 883623209 $1,168,750 $2,567,606 $278,379 $898,920 $697,900 $421,132 $2,736,948 $223,200 $14,426,182 $338,810 $472,746 $251,133 $2,120,661 $530,743 $283,970 $506,896 $1,566,549 55,000 264,157 16,232 26,400 10,000 5,845 35,416 5,000 431,276 11,615 23,288 17,611 38,383 20,188 8,330 15,245 404,793 55,000 264,157 16,232 26,400 10,000 5,845 35,416 5,000 431,276 11,615 23,288 17,611 38,383 20,188 8,330 15,245 404,793
Southcoast Financial Corp. Southern Community Financial Sprint Nextel Corp. Starbucks Corp. Stericycle, Inc. Suncor Energy, Inc. Suntrust Banks, Inc. SVB Financial Group, Inc. Sysco Corporation T H Q, Inc. T S B Financial Corp. Take Two Interactv Software Target Corporation TCF Financial Corp Teva Pharmaceutical Texas Instruments Thermogenesis Corp. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 55,000 353,034 264,157 15,000 16,232 21,000 26,400 129,940 10,000 55,000 5,845 84,255 35,416 196,428 5,000 74,396 431,276 32,400 11,615 10,000 23,288 5,845 17,611 36,593 38,383 5,000 20,188 466,318 8,330 15,785 15,245 9,848 404,793 20,188 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 Time Warner Toreador Resources Corp. Toyota Motor CP ADR Tri Continental Corp Triad Guaranty Inc. TriStone Community Bank Ultra Petroleum Corp. Unifirst Corporation - Mass United Health Group, Inc. United Parcel Service CL B Unumprovident Corp. US Bancorp Del Valero Energy Corp. Vanguard Growth ETF Vanguard Intl. Equity Index Fd. Vanguard Intl. Equity Index Fd. Verizon Communications common common common common common common common common common common common common common common common common common 887315109 891050106 892331307 895436103 895925105 89676R106 903914109 904708104 91324P102 911312106 91529Y106 902973304 91913Y100 922908736 922042866 922042858 92343V104 $1,417,784 $236,697 $6,844,910 $207,675 $16,736,428 $1,129,898 $1,398,798 $609,367 $3,341,910 $748,176 $193,900 $1,611,369 $514,700 $764,879 $484,995 $963,746 $250,628 77,772 12,850 62,855 9,875 327,075 93,380 29,075 19,506 67,925 10,400 10,000 48,506 10,000 13,950 7,750 14,350 6,750 77,772 12,850 62,855 9,875 327,075 93,380 29,075 19,506 67,925 10,400 10,000 48,506 10,000 13,950 7,750 14,350 6,750
Time Warner Toreador Resources Corp. Toyota Motor CP ADR Tri Continental Corp Triad Guaranty Inc. TriStone Community Bank Ultra Petroleum Corp. Unifirst Corporation - Mass United Health Group, Inc. United Parcel Service CL B Unumprovident Corp. US Bancorp Del Valero Energy Corp. Vanguard Growth ETF Vanguard Intl. Equity Index Fd. Vanguard Intl. Equity Index Fd. Verizon Communications 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 77,772 12,850 62,855 9,875 327,075 93,380 29,075 19,506 67,925 10,400 10,000 48,506 10,000 13,950 7,750 14,350 6,750 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
16 VF Corporation Wachovia Corporation New Walgreen Company Wal-Mart Stores, Inc. Washington Mutual, Inc. Webzen, Inc. WellPoint, Inc. Wells Fargo & Co. Wyeth XTO Energy, Inc. Zimmer Holdings, Inc. common common common common common common common common common common common 918204108 929903102 931422109 931142103 939322103 94846M102 94973V107 949746101 983024100 98385X106 98956P102 $1,980,082 $8,252,541 $11,173,673 $6,658,595 $240,172 $138,954 $6,238,276 $851,388 $1,349,294 $5,625,071 $2,192,400 27,143 147,895 251,716 135,008 5,525 34,480 80,964 23,532 26,540 133,517 32,480 27,143 147,895 251,716 135,008 5,525 34,480 80,964 23,532 26,540 133,517 32,480 Grand Total 09/30/06 $620,876,813
VF Corporation Wachovia Corporation New Walgreen Company Wal-Mart Stores, Inc. Washington Mutual, Inc. Webzen, Inc. WellPoint, Inc. Wells Fargo & Co. Wyeth XTO Energy, Inc. Zimmer Holdings, Inc. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 27,143 147,895 251,716 135,008 5,525 34,480 80,964 23,532 26,540 133,517 32,480 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0