13F-HR 1 dm12310613f-hrb.txt 13F-HR FOURTH QUARTER 2006 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: December 31, 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 8th day of February, 2007. 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: 250 FORM 13F INFORMATION TABLE VALUE TOTAL: $668,340,581 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. Alcon, Inc. Alexco Resource Corp. Alliance One International Alltell Corp. (AT) Altria Group, Inc. American Express Company American Intl. Group, Inc. Amgen Incorporated Anheuser Busch Company, Inc. Apache Corp. Apple Computer Aqua America, Inc. common common common common common common common common common common common common common common common common 88579Y101 2824100 4930202 00508Y102 H01301102 01535P106 18772103 20039103 02209S103 25816109 26874107 31162100 35229103 37411105 37833100 03836W103 $11,538,861 $1,208,203 $5,077,439 $239,384 $301,779 $1,306,030 $4,698,592 $273,974 $5,623,699 $245,714 $3,954,270 $9,478,491 $777,852 $4,659,691 $1,036,575 $245,455 148,067 24,804 294,515 4,600 2,700 310,000 665,523 4,530 65,529 4,050 55,181 138,757 15,810 70,060 12,218 10,775 148,067 24,804 294,515 4,600 2,700 310,000 665,523 4,530 65,529 4,050 55,181 138,757 15,810 70,060 12,218 10,775
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. Alcon, Inc. Alexco Resource Corp. Alliance One International Alltell Corp. (AT) Altria Group, Inc. American Express Company American Intl. Group, Inc. Amgen Incorporated Anheuser Busch Company, Inc. Apache Corp. Apple Computer Aqua America, 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 0 148,067 24,804 294,515 4,600 2,700 310,000 665,523 4,530 65,529 4,050 55,181 138,757 15,810 70,060 12,218 10,775 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 Arbor Realty Tr., Inc. Arch Coal, Inc. AT&T Corp Automatic Data Processing, Inc. Bank of America Corp. Bank of Carolinas; Mocksville NC Bank of Granite Corp Banner Corporation Barrick Gold Corp. BB&T Corporation BellSouth Corp Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL BHP Billiton Ltd. ADR Blackrock Broad Inv. 2009 Blackrock Core Bd. Trust Blackrock Incm. Opportunity TR common common common common common common common common common common common common common common common common common 38923108 39380100 00206R102 53015103 60505104 06423T102 62401104 06652V109 67901108 54937107 79860102 84670207 84670108 88606108 09247Q106 09249 E101 92475102 $3,067,676 $420,420 $205,723 $5,865,577 $28,381,377 $3,371,862 $778,934 $348,734 $245,600 $4,717,467 $211,202 $17,758,104 $3,079,720 $3,741,469 $583,326 $612,228 $625,186 101,950 14,000 5,755 119,098 531,586 228,415 41,061 7,865 8,000 107,386 4,483 4,844 28 94,125 38,785 48,283 60,875 101,950 14,000 5,755 119,098 531,586 228,415 41,061 7,865 8,000 107,386 4,483 4,844 28 94,125 38,785 48,283 60,875
Arbor Realty Tr., Inc. Arch Coal, Inc. AT&T Corp Automatic Data Processing, Inc. Bank of America Corp. Bank of Carolinas; Mocksville NC Bank of Granite Corp Banner Corporation Barrick Gold Corp. BB&T Corporation BellSouth Corp Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL BHP Billiton Ltd. ADR Blackrock Broad Inv. 2009 Blackrock Core Bd. Trust Blackrock Incm. Opportunity TR 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 0 101,950 14,000 5,755 119,098 531,586 228,415 41,061 7,865 8,000 107,386 4,483 4,844 28 94,125 38,785 48,283 60,875 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 Income TR. Inc. Blackrock Insd Mun Term Blackrock Insd Muni 2008 Blackrock Invt. Qlty Muni Blackrock Ltd. Duration Blackrock Mini Bond TR Blackrock Mun 2018 Fd. Blackrock N Y Insd 2008 Blackrock NY Mun. Inc. TST NY Blackrock NY Mun. Income Trust Blackrock Pfd. Opportunity Tr Blackrock Strat. Muni Tr Blackrock Strategic Bond BNP Residential Property, Inc. Boeing Company BP Amoco PLC ADR Breakwater Res. common common common common common common common common common common common common common common common common common 09247F100 92474105 09247K109 09247D105 09249W101 09249H104 09248C106 09247L107 09249U105 09249R102 09249V103 09248T109 09249G106 5564T103 97023105 55622104 06425J102 $1,096,849 $190,515 $1,176,398 $854,982 $780,740 $267,759 $518,805 $659,325 $146,400 $148,100 $2,746,593 $921,417 $534,600 $463,680 $266,520 $1,602,549 $1,416,325 180,700 19,500 75,750 44,600 41,200 14,100 30,500 44,250 10,000 10,000 104,275 49,300 41,250 19,200 3,000 23,883 905,000 180,700 19,500 75,750 44,600 41,200 14,100 30,500 44,250 10,000 10,000 104,275 49,300 41,250 19,200 3,000 23,883 905,000
Blackrock Income TR. Inc. Blackrock Insd Mun Term Blackrock Insd Muni 2008 Blackrock Invt. Qlty Muni Blackrock Ltd. Duration Blackrock Mini Bond TR Blackrock Mun 2018 Fd. Blackrock N Y Insd 2008 Blackrock NY Mun. Inc. TST NY Blackrock NY Mun. Income Trust Blackrock Pfd. Opportunity Tr Blackrock Strat. Muni Tr Blackrock Strategic Bond BNP Residential Property, Inc. Boeing Company BP Amoco PLC ADR Breakwater Res. 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 0 180,700 19,500 75,750 44,600 41,200 14,100 30,500 44,250 10,000 10,000 104,275 49,300 41,250 19,200 3,000 23,883 905,000 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
6 Canadian Nat. Res. Ltd. Capital Bank Corp. Capital One Financial Corp. Cardinal Health, Inc. Caremark RX, Inc. Caterpillar, Inc. Chesapeake Energy Corp. Chevron Texaco Corporation Choicepoint, Inc. Cincinnati Financial Corp Cisco Systems, Inc. Citigroup, Inc. Coca-Cola Company Coddle Creek Financial Inc Colgate-Palmolive Co. Comarco, Inc. CommScope, Inc. common common common common common common common common common common common common common common common common common 136385101 139793103 14040H105 14149Y108 141705103 149123101 165167107 166764100 170388102 172062101 17275R102 172967101 191216100 191891209 194162103 200080109 203372107 $489,716 $2,925,824 $14,798,083 $356,749 $271,273 $372,886 $1,092,280 $1,285,746 $1,181,400 $687,443 $13,719,414 $13,960,417 $1,434,206 $485,760 $5,869,643 $1,020,562 $842,772 9,200 168,830 192,633 5,537 4,750 6,080 37,600 17,486 30,000 15,172 501,991 250,636 29,724 18,400 89,970 119,925 27,650 9,200 168,830 192,633 5,537 4,750 6,080 37,600 17,486 30,000 15,172 501,991 250,636 29,724 18,400 89,970 119,925 27,650
Canadian Nat. Res. Ltd. Capital Bank Corp. Capital One Financial Corp. Cardinal Health, Inc. Caremark RX, Inc. Caterpillar, Inc. Chesapeake Energy Corp. Chevron Texaco Corporation Choicepoint, Inc. Cincinnati Financial Corp Cisco Systems, Inc. Citigroup, Inc. Coca-Cola Company Coddle Creek Financial Inc Colgate-Palmolive Co. Comarco, Inc. CommScope, 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 9,200 168,830 192,633 5,537 4,750 6,080 37,600 17,486 30,000 15,172 501,991 250,636 29,724 18,400 89,970 119,925 27,650 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 Community Bancshares, Inc. SC CompuCredit Corp. ConocoPhillips Cooperative Bankshares, Inc. Countrywide Financial 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. DWS Dreman Value Income Eaton Corp Ebay, Inc. common common common common common common common common common common common common common common common common common 20343F190 20478N100 20825C104 216844100 222372104 126650100 23331A109 24702R101 249030107 25179M103 254687106 25746U109 264399106 263534109 23339M105 278058102 278642103 $1,373,123 $796,200 $1,170,653 $536,700 $636,750 $638,292 $5,055,007 $2,462,834 $358,200 $7,876,869 $5,446,477 $249,424 $2,519,045 $234,198 $639,135 $349,251 $219,511 81,491 20,000 16,270 30,000 15,000 20,650 190827 98,160 12,000 117,425 158,928 2,975 75,852 4,808 31,500 4,648 7,300 81,491 20,000 16,270 30,000 15,000 20,650 190827 98,160 12,000 117,425 158,928 2,975 75,852 4,808 31,500 4,648 7,300
Community Bancshares, Inc. SC CompuCredit Corp. ConocoPhillips Cooperative Bankshares, Inc. Countrywide Financial 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. DWS Dreman Value Income Eaton Corp Ebay, 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 81,491 20,000 16,270 30,000 15,000 20,650 190827 98,160 12,000 117,425 158,928 2,975 75,852 4,808 31,500 4,648 7,300 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 EMC Corp. MASS Emerson Electric Encana Corp. Encore Wire Corp. Exactech, Inc. Exxon Mobile Corporation 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 common common common common common common common common common common common common common common common common common 268648102 291011104 292505104 292562105 30064 109 302290101 306137100 31428X106 31620M106 31946M103 319963104 32054K103 337738108 302526108 346091705 302695101 368710406 $155,668 $1,047,931 $319,674 $496,326 $334,405 $5,085,550 $10,309,200 $249,826 $966,169 $1,803,901 $563,992 $1,334,021 $235,890 $203,775 $1,182,199 $7,117,311 $811,300 11,793 23,768 6,957 22,550 23,500 66,365 1,191,815 2,300 24,100 8,902 22,100 28,450 4,500 13,750 36,175 1,153,535 10,000 11,793 23,768 6,957 22,550 23,500 66,365 1,191,815 2,300 24,100 8,902 22,100 28,450 4,500 13,750 36,175 1,153,535 10,000
EMC Corp. MASS Emerson Electric Encana Corp. Encore Wire Corp. Exactech, Inc. Exxon Mobile Corporation 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 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 11,793 23,768 6,957 22,550 23,500 66,365 1,191,815 2,300 24,100 8,902 22,100 28,450 4,500 13,750 36,175 1,153,535 10,000 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
9 General Dynamics Corp. General Electric Company Given Imaging Glaxo Smith Kline PLC Goldcorp, Inc. Goldman Sachs Group, Inc. Google, Inc. CL A Harbor Intl. Fund Harley Davidson, Inc. Hertz Global Holdings, Inc. Hewlet-Packard Company Highwood Properties, Inc. REIT Home Depot, Inc. Houston Exploration Co. Hubbell Inc. Class B Hudson City Bancorp, Inc. Intel Corp common common common common common common common common common common common common common common common common common 369550108 369604103 M52020100 37733W105 380956409 38141G104 38259P508 411511306 412822108 42805T105 428236103 431284108 437076102 442120101 443510201 443683107 458140100 $289,965 $20,119,424 $3,216,570 $395,489 $246,404 $2,043,338 $3,831,194 $596,632 $392,377 $173,900 $694,216 $3,380,390 $352,605 $574,758 $589,629 $5,467,832 $6,537,924 3,900 540,699 166,231 7,496 8,664 10,250 8,320 9,617 5,568 10,000 16,854 82,934 8,780 11,100 13,042 393,936 322,860 3,900 540,699 166,231 7,496 8,664 10,250 8,320 9,617 5,568 10,000 16,854 82,934 8,780 11,100 13,042 393,936 322,860
General Dynamics Corp. General Electric Company Given Imaging Glaxo Smith Kline PLC Goldcorp, Inc. Goldman Sachs Group, Inc. Google, Inc. CL A Harbor Intl. Fund Harley Davidson, Inc. Hertz Global Holdings, Inc. Hewlet-Packard Company Highwood Properties, Inc. REIT Home Depot, Inc. Houston Exploration Co. Hubbell Inc. Class B Hudson City Bancorp, Inc. Intel 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 3,900 540,699 166,231 7,496 8,664 10,250 8,320 9,617 5,568 10,000 16,854 82,934 8,780 11,100 13,042 393,936 322,860 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 International Business Machines Ishares Dow Jones US Telecm Sector Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI EMU Index Fund Ishares MSCI Hong Kong Ishares MSCI Japan Index Ishares MSCI Pacific Ex-Jap Indx Fd Ishares MSCI Singapore 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 Fnd Johnson & Johnson common common common common common common common common common common common common common common common common common 459200101 464287713 464287184 464287176 464287465 464287234 464286608 464286871 464286848 464286665 464286673 464287556 464287341 464287325 464287697 464287499 478160104 $800,905 $296,500 $6,030,448 $335,920 $4,912,330 $7,669,941 $465,075 $388,800 $2,188,340 $605,285 $118,720 $692,064 $1,103,553 $514,620 $287,584 $330,970 $16,405,850 8,244 10,000 54,109 3,400 67,090 67,180 4,500 24,300 154,000 4,833 10,600 8,900 9,900 9,000 3,200 3,315 248,498 8,244 10,000 54,109 3,400 67,090 67,180 4,500 24,300 154,000 4,833 10,600 8,900 9,900 9,000 3,200 3,315 248,498
International Business Machines Ishares Dow Jones US Telecm Sector Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI EMU Index Fund Ishares MSCI Hong Kong Ishares MSCI Japan Index Ishares MSCI Pacific Ex-Jap Indx Fd Ishares MSCI Singapore 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 Fnd Johnson & Johnson 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 8,244 10,000 54,109 3,400 67,090 67,180 4,500 24,300 154,000 4,833 10,600 8,900 9,900 9,000 3,200 3,315 248,498 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 Kellogg Company Kimberly-Clark Corp Kinetic Concepts, Inc. L-3 Communications Holdings, Inc. Lab CP of America Holding New Lauder, Estee Co., Inc. CL A Lehman Brothers Holding, Inc. Level 3 Communications, Inc. Lilly, Eli & Co. Lincoln National Corp. Linn Energy Lowes Companies Inc. Magnetbank Max Re Capital Ltd. McDonalds Corporation Medtronic, Inc. Merck & Co. common common common common common common common common common common common common common common common common common 487836108 494368103 49460W208 502424104 50540R409 518439104 524908100 52729N100 532457108 534187109 536020100 548661107 559404108 G6052F103 580135101 585055106 589331107 $5,300,603 $265,005 $992,705 $3,841,500 $227,757 $204,100 $1,026,575 $134,400 $247,475 $982,521 $945,720 $18,900,931 $200,000 $1,201,909 $2,984,044 $7,587,825 $3,979,546 105,885 3,900 25,100 46,974 3,100 5,000 13,141 24,000 4,750 14,797 29,600 606,771 20,000 48,425 67,314 141,802 91,274 105,885 3,900 25,100 46,974 3,100 5,000 13,141 24,000 4,750 14,797 29,600 606,771 20,000 48,425 67,314 141,802 91,274
Kellogg Company Kimberly-Clark Corp Kinetic Concepts, Inc. L-3 Communications Holdings, Inc. Lab CP of America Holding New Lauder, Estee Co., Inc. CL A Lehman Brothers Holding, Inc. Level 3 Communications, Inc. Lilly, Eli & Co. Lincoln National Corp. Linn Energy Lowes Companies Inc. Magnetbank Max Re Capital Ltd. McDonalds Corporation Medtronic, Inc. Merck & 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 0 105,885 3,900 25,100 46,974 3,100 5,000 13,141 24,000 4,750 14,797 29,600 606,771 20,000 48,425 67,314 141,802 91,274 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 Merrill Lynch & Co., Inc. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Morgan Stanley Emerging Markets Debt Nabors Industries Ltd. Neteller PLC Newell Rubbermaid, Inc. NewMarket Corporation Nokia Corp. Nordstrom, Inc. NovaGold Resources, Inc. Novogen Limited Sponsored ADR Nuveen CT Div Ad Muni Fd CT Nuveen CT Div Ad Muni Fd CT Fd 2 Nuveen Muni Advantage Fund Nuveen NC Div AD Muni Fund Fd 2 common common common common common common common common common common common common common common common common common 590188108 591520200 592688105 594918104 61744H105 G6359F103 G64549101 651229106 651587107 654902204 655664100 66987 E206 67010F103 67069T103 67071R103 67062H106 67070F100 $436,825 $194,940 $717,535 $17,675,184 $110,231 $208,460 $78,713 $286,055 $969,306 $8,188,757 $236,832 $24,965,277 $234,952 $316,575 $238,992 $327,200 $211,499 4,692 18,000 9,100 591,935 10,169 7,000 26,200 9,881 16,415 402,990 4,800 1,454,853 23,125 22,500 15,600 20,000 12,500 4,692 18,000 9,100 591,935 10,169 7,000 26,200 9,881 16,415 402,990 4,800 1,454,853 23,125 22,500 15,600 20,000 12,500
Merrill Lynch & Co., Inc. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Morgan Stanley Emerging Markets Debt Nabors Industries Ltd. Neteller PLC Newell Rubbermaid, Inc. NewMarket Corporation Nokia Corp. Nordstrom, Inc. NovaGold Resources, Inc. Novogen Limited Sponsored ADR Nuveen CT Div Ad Muni Fd CT Nuveen CT Div Ad Muni Fd CT Fd 2 Nuveen Muni Advantage Fund Nuveen NC Div AD Muni Fund Fd 2 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 4,692 18,000 9,100 591,935 10,169 7,000 26,200 9,881 16,415 402,990 4,800 1,454,853 23,125 22,500 15,600 20,000 12,500 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 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 Port 3 Oil Service Holders Dep. RCPT Old Rep. Intl. Corp. Penn Virginia Group Holding LP Pepsico, Inc. PetroChina Co. ADR Petrohawk Energy Corp. Pfizer, Inc. Pioneer Natural Res. Co. Polaris Industries, Inc. Praxair, Inc. Procter & Gamble Progress Energy, Inc. common common common common common common common common common common common common common common common common common 67071D104 67072D103 67071S101 67071B108 67063X100 678002106 680223104 70788P105 713448108 71646E 100 716495106 717081103 723787107 731068102 74005P104 742718109 743263105 $624,912 $734,815 $519,400 $1,090,784 $152,900 $914,354 $795,501 $994,000 $22,416,883 $4,309,980 $1,496,725 $9,812,181 $423,691 $561,960 $335,215 $15,082,196 $306,946 42,025 52,300 35,000 38,300 11,000 6,547 34,171 50,000 358,383 30,615 130,150 378,849 10,675 12,000 5,650 234,669 6,254 42,025 52,300 35,000 38,300 11,000 6,547 34,171 50,000 358,383 30,615 130,150 378,849 10,675 12,000 5,650 234,669 6,254
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 Portf 3 Oil Service Holders Dep. RCPT Old Rep. Intl. Corp. Penn Virginia Group Holding LP Pepsico, Inc. PetroChina Co. ADR Petrohawk Energy Corp. Pfizer, Inc. Pioneer Natural Res. Co. Polaris Industries, Inc. Praxair, Inc. Procter & Gamble Progress Energy, 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 42,025 52,300 35,000 38,300 11,000 6,547 34,171 50,000 358,383 30,615 130,150 378,849 10,675 12,000 5,650 234,669 6,254 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 Provident Bankshares Corp Regal-Beloit Corp. Regions Financial Corp. Republic Property Trust Republic Services, Inc. Saic, Inc. Sara Lee Corporation Schering-Plough Corp Security Bank Corp. Sempra Energy ServiceMaster Co. Sirius Satellite Radio Solar Enertech Corp. Sonoco Products Southern Community Financial Sprint Nextel Corp. Staples, Inc. common common common common common common common common common common common common common common common common common 743859100 758750103 758940100 760737106 760759100 78390X101 803111103 806605101 814047106 816851109 81760N109 82966U103 834156101 835495102 842632101 852061100 855030102 $1,193,597 $204,789 $651,508 $992,440 $300,958 $1,261,311 $221,662 $243,965 $3,090,262 $218,836 $4,948,600 $74,340 $7,500 $4,581,434 $2,779,590 $242,396 $216,270 33,528 3,900 17,420 86,000 7,400 70,900 13,016 10,320 135,419 3,905 377,468 21,000 10,000 120,374 275,753 12,832 8,100 33,528 3,900 17,420 86,000 7,400 70,900 13,016 10,320 135,419 3,905 377,468 21,000 10,000 120,374 275,753 12,832 8,100
Provident Bankshares Corp Regal-Beloit Corp. Regions Financial Corp. Republic Property Trust Republic Services, Inc. Saic, Inc. Sara Lee Corporation Schering-Plough Corp Security Bank Corp. Sempra Energy ServiceMaster Co. Sirius Satellite Radio Solar Enertech Corp. Sonoco Products Southern Community Financial Sprint Nextel Corp. Staples, 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 33,528 3,900 17,420 86,000 7,400 70,900 13,016 10,320 135,419 3,905 377,468 21,000 10,000 120,374 275,753 12,832 8,100 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 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. Target Corporation TCF Financial Corp Teva Pharmaceutical Texas Instruments Thermogenesis Corp. Tidelands Bancshares, Inc. Time Warner Toreador Resources Corp. Toyota Motor CP ADR common common common common common common common common common common common common common common common common common 855244109 858912108 867229106 867914103 78486Q101 871829107 872443403 872805106 87612E106 872275102 881624209 882508104 883623209 886374107 887315109 891050106 892331307 $1,101,562 $755,000 $461,229 $3,100,413 $233,100 $15,360,979 $429,752 $499,538 $2,850,846 $553,555 $333,488 $439,056 $1,597,040 $538,650 $1,554,482 $292,490 $9,707,517 31,100 10,000 5,845 36,713 5,000 417,872 13,215 25,950 49,971 20,188 10,730 15,245 370,543 35,000 71,372 11,350 72,277 31,100 10,000 5,845 36,713 5,000 417,872 13,215 25,950 49,971 20,188 10,730 15,245 370,543 35,000 71,372 11,350 72,277
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. Target Corporation TCF Financial Corp Teva Pharmaceutical Texas Instruments Thermogenesis Corp. Tidelands Bancshares, Inc. Time Warner Toreador Resources Corp. Toyota Motor CP ADR 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 31,100 10,000 5,845 36,713 5,000 417,872 13,215 25,950 49,971 20,188 10,730 15,245 370,543 35,000 71,372 11,350 72,277 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 Tri Continental Corp Triad Guaranty Inc. TriStone Community Bank U S G Corporation Ultra Petroleum Corp. Unifirst Corporation - Mass United Health Group, Inc. United Parcel Service CL B United Technologies Corp. Unumprovident Corp. US Bancorp Del Valero Energy Corp. Vanguard Growth ETF Vanguard Intl. Equity Index Fd. Vanguard Intl. Equity Index Fd. Verizon Communications VF Corporation common common common common common common common common common common common common common common common common common 895436103 895925105 89676R106 903293405 903914109 904708104 91324P102 911312106 913017109 91529Y106 902973304 91913Y100 922908736 922042866 922042858 92343V104 918204108 $209,292 $18,994,348 $1,148,574 $6,983,438 $1,321,921 $779,953 $3,634,835 $648,577 $860,775 $207,800 $2,473,876 $511,600 $807,147 $495,202 $1,091,199 $255,094 $2,227,897 9,352 346,170 93,380 127,435 27,690 20,306 67,650 8,650 13,768 10,000 68,358 10,000 13,950 7,450 14,100 6,850 27,143 9,352 346,170 93,380 127,435 27,690 20,306 67,650 8,650 13,768 10,000 68,358 10,000 13,950 7,450 14,100 6,850 27,143
Tri Continental Corp Triad Guaranty Inc. TriStone Community Bank U S G Corporation Ultra Petroleum Corp. Unifirst Corporation - Mass United Health Group, Inc. United Parcel Service CL B United Technologies Corp. Unumprovident Corp. US Bancorp Del Valero Energy Corp. Vanguard Growth ETF Vanguard Intl. Equity Index Fd. Vanguard Intl. Equity Index Fd. Verizon Communications VF Corporation 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 9,352 346,170 93,380 127,435 27,690 20,306 67,650 8,650 13,768 10,000 68,358 10,000 13,950 7,450 14,100 6,850 27,143 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 Wachovia Corporation New Walgreen Company Wal-Mart Stores, Inc. Washington Federal, Inc. Washington Mutual, Inc. Webzen, Inc. WellPoint, Inc. Wells Fargo & Co. Western Union Company Whole Foods Market, Inc. Wyeth XTO Energy, Inc. Zimmer Holdings, Inc. common common common common common common common common common common common common common 929903102 931422109 931142103 938824109 939322103 94846M102 94973V107 949746101 959802109 966837106 983024100 98385X106 98956P102 $8,603,091 $12,238,450 $5,749,779 $246,406 $238,231 $133,782 $6,284,498 $818,236 $542,564 $206,492 $1,360,175 $6,376,075 $2,766,030 151,064 266,691 124,508 10,472 5,237 34,480 79,864 23,010 24,200 4,400 26,712 135,517 35,290 151,064 266,691 124,508 10,472 5,237 34,480 79,864 23,010 24,200 4,400 26,712 135,517 35,290 Grand Total 12/31/06 $668,340,581
Wachovia Corporation New Walgreen Company Wal-Mart Stores, Inc. Washington Federal, Inc. Washington Mutual, Inc. Webzen, Inc. WellPoint, Inc. Wells Fargo & Co. Western Union Company Whole Foods Market, Inc. 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 0 0 0 0 151,064 266,691 124,508 10,472 5,237 34,480 79,864 23,010 24,200 4,400 26,712 135,517 35,290 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