13F-HR 1 dm09300713f-hrb.txt 13F 3RD QUARTER 2007 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, 2007 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 14th day of November, 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: 256 FORM 13F INFORMATION TABLE VALUE TOTAL: $689,699,488 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 Accenture Ltd Class A Activision, Inc. Acuity Brands, Inc. Alcon, Inc. Alexco Resource Corp. Allergan, Inc. Alliance One International Altria Group, Inc. American Express Company American Intl. Group, Inc. Anheuser Busch Company, Inc. Apache Corp. Apple, Inc. Arbor Realty Tr., Inc. common common common common common common common common common common common common common common common common 88579Y101 2824100 G1150G111 4930202 00508Y102 H01301102 01535P106 18490102 18772103 02209S103 25816109 26874107 35229103 37411105 37833100 38923108 $13,653,509 $1,421,520 $246,169 $3,136,703 $232,208 $388,584 $1,581,000 $206,304 $1,044,588 $5,877,023 $204,827 $5,091,745 $519,146 $6,733,786 $4,266,619 $289,962 145,902 26,511 6,116 145,285 4,600 2,700 310,000 3,200 159,723 84,525 3,450 75,266 10,385 74,770 27,801 15,350 145,902 26,511 6,116 145,285 4,600 2,700 310,000 3,200 159,723 84,525 3,450 75,266 10,385 74,770 27,801 15,350
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 Accenture Ltd Class A Activision, Inc. Acuity Brands, Inc. Alcon, Inc. Alexco Resource Corp. Allergan, Inc. Alliance One International Altria Group, Inc. American Express Company American Intl. Group, Inc. Anheuser Busch Company, Inc. Apache Corp. Apple, Inc. Arbor Realty Tr., 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 0 145,902 26,511 6,116 145,285 4,600 2,700 310,000 3,200 159,723 84,525 3,450 75,266 10,385 74,770 27,801 15,350 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
4 AT&T Corp. T Atlas Pipeline Partners-UTS Automatic Data Processing, Inc. Bank of America Corp. Bank of Carolinas; Mocksville NC Banner Corporation Barclays BK PLC Ipath ETNS Barrick Gold Corp. BB&T Corporation Becton Dickinson & Co. Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A Best Buy, Inc. BHP Billiton Ltd. ADR BHP Billiton PLC SP ADR Black & Decker Corp. Blackrock Broad Inv. 2009 common common common common common common common common common common common common common common common common common 00206R102 49392103 53015103 60505104 06423T102 06652V109 06739F291 67901108 54937107 75887109 84670207 84670108 86516101 88606108 05545E209 91797100 09247Q106 $1,747,582 $1,149,050 $4,382,135 $27,304,251 $1,999,016 $208,060 $1,165,018 $334,324 $5,859,741 $463,583 $18,704,816 $2,962,750 $648,882 $7,622,235 $821,212 $249,900 $583,714 41,304 24,500 95,409 543,152 182,392 6,050 16,025 8,300 145,079 5,650 4,733 25 14,100 96,975 11,420 3,000 38,785 41,304 24,500 95,409 543,152 182,392 6,050 16,025 8,300 145,079 5,650 4,733 25 14,100 96,975 11,420 3,000 38,785
AT&T Corp. T Atlas Pipeline Partners-UTS Automatic Data Processing, Inc. Bank of America Corp. Bank of Carolinas; Mocksville NC Banner Corporation Barclays BK PLC Ipath ETNS Barrick Gold Corp. BB&T Corporation Becton Dickinson & Co. Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A Best Buy, Inc. BHP Billiton Ltd. ADR BHP Billiton PLC SP ADR Black & Decker Corp. Blackrock Broad Inv. 2009 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 41,304 24,500 95,409 543,152 182,392 6,050 16,025 8,300 145,079 5,650 4,733 25 14,100 96,975 11,420 3,000 38,785 0 0 0 0 0 0 0 0 0 0 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 Core Bd. Trust Blackrock Floating Rate Income Blackrock Incm. Opportunity TR 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 Boeing Company common common common common common common common common common common common common common common common common common 09249E101 09255X100 92475102 09247F100 92474105 09247K109 09247D105 09249W101 09249H104 09248C106 09247L107 09249U105 09249R102 09249V103 09248T109 09249G106 97023105 $737,085 $221,910 $754,923 $1,087,200 $223,650 $844,008 $526,140 $849,033 $171,490 $447,700 $530,891 $146,400 $145,700 $1,543,470 $576,800 $532,003 $6,919,366 59,683 13,000 74,450 180,000 22,500 55,600 31,600 48,795 10,550 27,500 34,950 10,000 10,000 74,672 36,050 44,150 65,905 59,683 13,000 74,450 180,000 22,500 55,600 31,600 48,795 10,550 27,500 34,950 10,000 10,000 74,672 36,050 44,150 65,905
Blackrock Core Bd. Trust Blackrock Floating Rate Income Blackrock Incm. Opportunity TR 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 Boeing 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 59,683 13,000 74,450 180,000 22,500 55,600 31,600 48,795 10,550 27,500 34,950 10,000 10,000 74,672 36,050 44,150 65,905 0 0 0 0 0 0 0 0 0 0 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 BP Amoco PLC ADR Breakwater Resources Ltd Buckeye Partners LP Canadian Nat. Res. Ltd. Capital Bank Corp. Capital One Financial Corp. Cardinal Financial Group Cardinal Health, Inc. Caterpillar, Inc. Celgene Corp. Chesapeake Energy Corp. Chevron Corporation Choicepoint, Inc. Cincinnati Financial Corp Cisco Systems, Inc. Citigroup, Inc. Coca-Cola Company common common common common common common common common common common common common common common common common common 55622104 106902307 118230101 136385101 139793103 14040H105 14149F109 14149Y108 149123101 151020104 165167107 166764100 170388102 172062101 17275R102 172967101 191216100 $2,062,746 $4,382,224 $1,340,956 $696,900 $2,177,175 $12,232,299 $849,150 $315,777 $9,203,368 $1,158,074 $1,750,659 $1,875,905 $1,137,600 $662,513 $17,873,515 $11,850,456 $1,701,802 29,744 1,422,800 27,400 9,200 145,145 184,138 85,000 5,050 117,345 16,240 49,650 20,046 30,000 15,297 539,498 253,920 29,612 29,744 1,422,800 27,400 9,200 145,145 184,138 85,000 5,050 117,345 16,240 49,650 20,046 30,000 15,297 539,498 253,920 29,612
BP Amoco PLC ADR Breakwater Resources Ltd Buckeye Partners LP Canadian Nat. Res. Ltd. Capital Bank Corp. Capital One Financial Corp. Cardinal Financial Group Cardinal Health, Inc. Caterpillar, Inc. Celgene Corp. Chesapeake Energy Corp. Chevron Corporation Choicepoint, Inc. Cincinnati Financial Corp Cisco Systems, Inc. Citigroup, Inc. Coca-Cola 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 29,744 1,422,800 27,400 9,200 145,145 184,138 85,000 5,050 117,345 16,240 49,650 20,046 30,000 15,297 539,498 253,920 29,612 0 0 0 0 0 0 0 0 0 0 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 Coddle Creek Financial Inc Colgate-Palmolive Co. Comarco, Inc. Comcast Corp. Class A CommScope, Inc. Community Bancshares, Inc. SC Compass Minerals Intl. ConocoPhillips Cooperative Bankshares, Inc. Countrywide Financial CVS Caremark Corp. D. R. Horton Company Dell, Inc. Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt Company Dominion Resources Inc. - VA common common common common common common common common common common common common common common common common common 191891209 194162103 200080109 20030N101 203372107 20343F190 20451N101 20825C104 216844100 222372104 126650100 23331A109 24702R101 249030107 25179M103 254687106 25746U109 $290,063 $6,143,220 $527,016 $4,858,898 $1,313,776 $1,214,216 $277,426 $2,150,707 $502,500 $285,150 $1,734,526 $1,425,548 $3,035,807 $499,680 $9,541,376 $4,639,796 $204,428 11,050 86,136 93,775 200,947 26,150 81,491 8,150 24,504 30,000 15,000 43,768 111284 109,993 12,000 114,680 134,917 2,425 11,050 86,136 93,775 200,947 26,150 81,491 8,150 24,504 30,000 15,000 43,768 111284 109,993 12,000 114,680 134,917 2,425
Coddle Creek Financial Inc Colgate-Palmolive Co. Comarco, Inc. Comcast Corp. Class A CommScope, Inc. Community Bancshares, Inc. SC Compass Minerals Intl. ConocoPhillips Cooperative Bankshares, Inc. Countrywide Financial CVS Caremark Corp. D. R. Horton Company Dell, Inc. Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt Company Dominion Resources Inc. - VA 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11,050 86,136 93,775 200,947 26,150 81,491 8,150 24,504 30,000 15,000 43,768 111284 109,993 12,000 114,680 134,917 2,425 0 0 0 0 0 0 0 0 0 0 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 Duke Energy Corporation Dupont de nemours E.I. DWS Dreman Value Income Eaton Corp Ebay, Inc. EMC Corp. MASS Emerson Electric Enbridge Energy Partners LP Encana Corp. Enterprise Products Partners LP Equitable Resources, Inc. Exactech, Inc. Exelon Corporation Exxon Mobile Corporation Falconstor Software, Inc. Fedex Corporation Fidelity National Info. Services common common common common common common common common common common common common common common common common common 264399106 263534109 23339M105 278058102 278642103 268648102 291011104 29250R106 292505104 293792107 294549100 30064109 30161N101 302290101 306137100 31428X106 31620M106 $993,710 $238,284 $533,210 $460,338 $271,189 $708,573 $2,126,724 $1,044,962 $386,995 $1,815,000 $544,635 $321,000 $719,688 $6,339,342 $13,226,791 $251,400 $1,069,317 53,168 4,808 35,500 4,648 6,950 34,066 39,961 21,400 6,257 60,000 10,500 20,000 9,550 68,489 1,097,659 2,400 24,100 53,168 4,808 35,500 4,648 6,950 34,066 39,961 21,400 6,257 60,000 10,500 20,000 9,550 68,489 1,097,659 2,400 24,100
Duke Energy Corporation Dupont de nemours E.I. DWS Dreman Value Income Eaton Corp Ebay, Inc. EMC Corp. MASS Emerson Electric Enbridge Energy Partners LP Encana Corp. Enterprise Products Partners LP Equitable Resources, Inc. Exactech, Inc. Exelon Corporation Exxon Mobile Corporation Falconstor Software, Inc. Fedex Corporation Fidelity National Info. Services 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 53,168 4,808 35,500 4,648 6,950 34,066 39,961 21,400 6,257 60,000 10,500 20,000 9,550 68,489 1,097,659 2,400 24,100 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
9 First Citizens Bancshares CL A First INDL RLTY TR, Inc. Fiserv, Inc. FNB United Corp. Forest Oil Corp. FX Energy, Inc. Genentech, Inc. New General Dynamics Corp. General Electric Company Given Imaging Glaxo Smith Kline PLC Goldcorp, Inc. Goldman Sachs Group, Inc. Google, Inc. CL A Gramercy Capital Corp. Harbor Intl. Fund Hewlet-Packard Company common common common common common common common common common common common common common common common common common 31946M103 32054K103 337738108 302519103 346091705 302695101 368710406 369550108 369604103 M52020100 37733W105 380956409 38141G104 38259P508 384871109 411511306 428236103 $1,539,254 $1,105,852 $239,042 $280,131 $1,962,495 $7,973,199 $1,864,678 $523,714 $23,027,731 $4,103,407 $323,137 $245,213 $5,313,815 $5,052,674 $1,006,800 $718,767 $1,176,936 8,826 28,450 4,700 17,463 45,597 1,070,228 23,900 6,200 556,225 148,944 6,074 8,024 24,517 8,907 40,000 9,617 23,638 8,826 28,450 4,700 17,463 45,597 1,070,228 23,900 6,200 556,225 148,944 6,074 8,024 24,517 8,907 40,000 9,617 23,638
First Citizens Bancshares CL A First INDL RLTY TR, Inc. Fiserv, Inc. FNB United Corp. Forest Oil Corp. FX Energy, Inc. Genentech, Inc. New General Dynamics Corp. General Electric Company Given Imaging Glaxo Smith Kline PLC Goldcorp, Inc. Goldman Sachs Group, Inc. Google, Inc. CL A Gramercy Capital Corp. Harbor Intl. Fund Hewlet-Packard 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 8,826 28,450 4,700 17,463 45,597 1,070,228 23,900 6,200 556,225 148,944 6,074 8,024 24,517 8,907 40,000 9,617 23,638 0 0 0 0 0 0 0 0 0 0 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 Highwood Properties, Inc. REIT Home Depot, Inc. Hubbell Inc. Class B Intel Corp International Business Machines Ishares DJ US Telecom Sector Inx Fd Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI EMU Index Fund Ishares MSCI Japan Index Ishares MSCI Pac Ex-Japan Index Fd Ishares NASDAQ Biotech Indx Fd Ishares S&P GLB ERG Sect Ishares S&P GLB Health Care Ishares TR Russell Midcap Indx Fd common common common common common common common common common common common common common common common common common 431284108 437076102 443510201 458140100 459200101 464287713 464287184 464287176 464287465 464287234 464286608 464286848 464286665 464287556 464287341 464287325 464287499 $2,745,080 $501,295 $693,722 $9,326,213 $884,560 $402,815 $5,876,280 $357,105 $5,291,954 $9,782,399 $544,050 $2,027,676 $737,208 $332,000 $1,214,752 $502,236 $261,255 74,859 15,453 12,145 360,642 7,509 11,900 32,646 3,500 64,075 65,456 4,500 141,400 4,433 4,000 8,800 8,400 2,415 74,859 15,453 12,145 360,642 7,509 11,900 32,646 3,500 64,075 65,456 4,500 141,400 4,433 4,000 8,800 8,400 2,415
Highwood Properties, Inc. REIT Home Depot, Inc. Hubbell Inc. Class B Intel Corp International Business Machines Ishares DJ US Telecom Sec Indx Fd Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI EMU Index Fund Ishares MSCI Japan Index Ishares MSCI Pac Ex-Japan Index Fd Ishares NASDAQ Biotech Indx Fd Ishares S&P GLB ERG Sect Ishares S&P GLB Health Care Ishares TR Russell Midcap Indx Fd 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 74,859 15,453 12,145 360,642 7,509 11,900 32,646 3,500 64,075 65,456 4,500 141,400 4,433 4,000 8,800 8,400 2,415 0 0 0 0 0 0 0 0 0 0 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 Johnson & Johnson Kellogg Company Kraft Foods, Inc. CL A K-Sea Transportation L-3 Communications Holdings, Inc. Lab CP of America Holding New Lauder, Estee Co., Inc. CL A Lee Enterprises, Inc. Lehman Brothers Holding, Inc. Level 3 Communications, Inc. Lilly, Eli & Co. Lincoln National Corp. Linn Energy Lowes Companies Inc. Magellan Midstream Holdings LP Magnetbank Marriott International, Inc. - CL A common common common common common common common common common common common common common common common common common 478160104 487836108 50075N104 48268Y101 502424104 50540R409 518439104 523768109 524908100 52729N100 532457108 534187109 536020100 548661107 55907R108 559404108 571903202 $15,627,172 $5,734,960 $632,844 $974,000 $3,432,664 $359,858 $212,300 $241,335 $1,003,113 $111,600 $270,418 $965,735 $895,828 $16,939,421 $1,570,800 $200,000 $686,826 237,856 102,410 18,338 25,000 33,607 4,600 5,000 15,500 16,250 24,000 4,750 14,639 28,100 604,547 59,500 20,000 15,800 237,856 102,410 18,338 25,000 33,607 4,600 5,000 15,500 16,250 24,000 4,750 14,639 28,100 604,547 59,500 20,000 15,800
Johnson & Johnson Kellogg Company Kraft Foods, Inc. CL A K-Sea Transportation L-3 Communications Holdings, Inc. Lab CP of America Holding New Lauder, Estee Co., Inc. CL A Lee Enterprises, Inc. Lehman Brothers Holding, Inc. Level 3 Communications, Inc. Lilly, Eli & Co. Lincoln National Corp. Linn Energy Lowes Companies Inc. Magellan Midstream Holdings LP Magnetbank Marriott International, Inc. - CL A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 237,856 102,410 18,338 25,000 33,607 4,600 5,000 15,500 16,250 24,000 4,750 14,639 28,100 604,547 59,500 20,000 15,800 0 0 0 0 0 0 0 0 0 0 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 McDonalds Corporation Medtronic, Inc. Merck & Co. Merrill Lynch & Co., Inc. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microchip Technology, Inc. Microsoft Corporation Monsanto Company Motorola, Inc. Nabors Industries Ltd. National Dentex Corp. Netease.com Inc. ADR Newbridge Bancorp Nokia Corp. Norvartis A G Spon ADR F NovaGold Resources, Inc. common common common common common common common common common common common common common common common common common 580135101 585055106 589331107 590188108 591520200 592688105 595017104 594918104 61166W101 620076109 G6359F103 63563H109 64110W102 65080T102 654902204 66987V109 66987 E206 $3,004,565 $9,101,641 $4,696,760 $420,481 $270,900 $928,200 $248,792 $17,140,334 $222,924 $6,007,704 $264,622 $174,400 $673,972 $233,947 $13,625,215 $263,808 $22,768,825 55,160 161,348 90,864 5,899 18,000 9,100 6,850 581,817 2,600 324,215 8,600 10,900 39,880 18,421 359,220 4,800 1,379,093 55,160 161,348 90,864 5,899 18,000 9,100 6,850 581,817 2,600 324,215 8,600 10,900 39,880 18,421 359,220 4,800 1,379,093
McDonalds Corporation Medtronic, Inc. Merck & Co. Merrill Lynch & Co., Inc. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microchip Technology, Inc. Microsoft Corporation Monsanto Company Motorola, Inc. Nabors Industries Ltd. National Dentex Corp. Netease.com Inc. ADR Newbridge Bancorp Nokia Corp. Norvartis A G Spon ADR F 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 55,160 161,348 90,864 5,899 18,000 9,100 6,850 581,817 2,600 324,215 8,600 10,900 39,880 18,421 359,220 4,800 1,379,093 0 0 0 0 0 0 0 0 0 0 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 Muni Advantage Fund Nuveen NC Div AD Muni Fund Fd 2 Nuveen NC Div AD Muni Fund NC Nuveen NC Div AD Muni Fund NC Nuveen Perferred & Conv. Nuveen Perf Plus Muni Fund, Inc. Nuveen Preferred & Conv. Incm. Nuveen Quality Pfd Incm Fd Nuveen Real Estate Inc. Fund Nuveen Select Tx Fr Inc Portfolio 3 Nymex Holdings, Inc. Oil Service Holders Dep. RCPT Old Rep. Intl. Corp. Path 1 Network Techs. Penn Virginia Group Holding LP Peoples United Financial, Inc. Pepsico, Inc. common common common common common common common common common common common common common common common common common 67062H106 67070F100 67072D103 67071D104 67073B106 67062P108 67073D102 67071S101 67071B108 67063X100 62948N104 678002106 680223104 703186205 70788P105 712704105 713448108 $289,600 $193,750 $665,852 $531,024 $121,200 $229,436 $199,045 $460,845 $925,809 $146,410 $632,675 $1,197,862 $689,201 $116 $1,927,796 $345,600 $25,547,576 20,000 12,500 46,891 36,800 10,100 16,400 16,450 38,500 40,965 11,000 4,860 6,247 36,777 29,000 52,400 20,000 348,725 20,000 12,500 46,891 36,800 10,100 16,400 16,450 38,500 40,965 11,000 4,860 6,247 36,777 29,000 52,400 20,000 348,725
Nuveen Muni Advantage Fund Nuveen NC Div AD Muni Fund Fd 2 Nuveen NC Div AD Muni Fund NC Nuveen NC Div AD Muni Fund NC Nuveen Perferred & Conv. Nuveen Perf Plus Muni Fund, Inc. Nuveen Preferred & Conv. Incm. Nuveen Quality Pfd Incm Fd Nuveen Real Estate Inc. Fund Nuveen Select Tx Fr Inc Portfolio 3 Nymex Holdings, Inc. Oil Service Holders Dep. RCPT Old Rep. Intl. Corp. Path 1 Network Techs. Penn Virginia Group Holding LP Peoples United Financial, Inc. Pepsico, 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 20,000 12,500 46,891 36,800 10,100 16,400 16,450 38,500 40,965 11,000 4,860 6,247 36,777 29,000 52,400 20,000 348,725 0 0 0 0 0 0 0 0 0 0 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 Permian Basin Realty Trust PetroChina Co. ADR Petrohawk Energy Corp. Pfizer, Inc. Pimco Corporate Opportunity Fund Pimco Strategic Global Pioneer Natural Res. Co. Praxair, Inc. Procter & Gamble Progress Energy, Inc. Provident Bankshares Corp Qualcomm, Inc. Regions Financial Corp. Republic Services, Inc. Royal Bank CDA Montreal Royal Dutch Shell A ADRF Saic, Inc. common common common common common common common common common common common common common common common common common 714236106 71646E 100 716495106 717081103 72201B101 72200X104 723787107 74005P104 742718109 743263105 743859100 747525103 758940100 760759100 780087102 780259206 78390X101 $224,960 $5,101,632 $1,701,112 $1,542,828 $496,170 $908,820 $387,953 $1,009,308 $17,055,609 $274,260 $698,878 $464,860 $513,542 $390,885 $205,424 $221,886 $769,519 14,800 27,560 103,600 63,153 33,300 89,100 8,625 12,050 242,474 5,854 22,307 11,000 17,420 11,950 3,700 2,700 40,100 14,800 27,560 103,600 63,153 33,300 89,100 8,625 12,050 242,474 5,854 22,307 11,000 17,420 11,950 3,700 2,700 40,100
Permian Basin Realty Trust PetroChina Co. ADR Petrohawk Energy Corp. Pfizer, Inc. Pimco Corporate Opportunity Fund Pimco Strategic Global Pioneer Natural Res. Co. Praxair, Inc. Procter & Gamble Progress Energy, Inc. Provident Bankshares Corp Qualcomm, Inc. Regions Financial Corp. Republic Services, Inc. Royal Bank CDA Montreal Royal Dutch Shell A ADRF Saic, 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 14,800 27,560 103,600 63,153 33,300 89,100 8,625 12,050 242,474 5,854 22,307 11,000 17,420 11,950 3,700 2,700 40,100 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 Sara Lee Corporation Schering-Plough Corp Security Bank Corp. Sempra Energy Sirius Satellite Radio Solar Enertech Corp. Sonoco Products Southern Community Financial Spectra Energy Corp. Starbucks Corp. Stericycle, Inc. Stryker Corporation Suntrust Banks, Inc. SVB Financial Group, Inc. Sysco Corporation T S B Financial Corp. Target Corporation common common common common common common common common common common common common common common common common common 803111103 806605101 814047106 816851109 82966U103 834156101 835495102 842632101 847560109 855244109 858912108 863667101 867914103 78486Q101 871829107 872805106 87612E106 $240,636 $326,422 $465,143 $226,959 $69,800 $12,800 $3,563,353 $1,196,183 $317,652 $804,340 $1,143,200 $340,362 $2,625,068 $217,856 $11,797,302 $845,295 $4,519,891 14,418 10,320 37,152 3,905 20,000 10,000 118,070 138,287 12,976 30,700 20,000 4,950 34,691 4,600 331,478 25,615 71,101 14,418 10,320 37,152 3,905 20,000 10,000 118,070 138,287 12,976 30,700 20,000 4,950 34,691 4,600 331,478 25,615 71,101
Sara Lee Corporation Schering-Plough Corp Security Bank Corp. Sempra Energy Sirius Satellite Radio Solar Enertech Corp. Sonoco Products Southern Community Financial Spectra Energy Corp. Starbucks Corp. Stericycle, Inc. Stryker Corporation Suntrust Banks, Inc. SVB Financial Group, Inc. Sysco Corporation T S B Financial Corp. Target 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 14,418 10,320 37,152 3,905 20,000 10,000 118,070 138,287 12,976 30,700 20,000 4,950 34,691 4,600 331,478 25,615 71,101 0 0 0 0 0 0 0 0 0 0 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 Teva Pharmaceutical Texas Instruments Thermogenesis Corp. Tidelands Bancshares, Inc. Toyota Motor CP ADR Triad Guaranty Inc. TriStone Community Bank U S G Corporation Ultra Petroleum Corp. Unifirst Corporation - Mass Union Pacific Corp. United Health Group, Inc. United Parcel Service CL B United Technologies Corp. Unumprovident Corp. US Bancorp Del Valero Energy Corp. common common common common common common common common common common common common common common common common common 881624209 882508104 883623209 886374107 892331307 895925105 89676R106 903293405 903914109 904708104 907818108 91324P102 911312106 913017109 91529Y106 902973304 91913Y100 $1,047,046 $508,601 $41,255 $191,132 $7,288,558 $9,317,931 $923,394 $4,323,132 $1,687,488 $704,473 $333,527 $4,119,940 $491,905 $2,329,172 $244,700 $1,526,308 $674,487 23,545 13,900 18,500 14,579 62,370 491,193 91,880 115,130 27,200 18,806 2,950 85,070 6,550 28,941 10,000 46,920 10,040 23,545 13,900 18,500 14,579 62,370 491,193 91,880 115,130 27,200 18,806 2,950 85,070 6,550 28,941 10,000 46,920 10,040
Teva Pharmaceutical Texas Instruments Thermogenesis Corp. Tidelands Bancshares, Inc. Toyota Motor CP ADR Triad Guaranty Inc. TriStone Community Bank U S G Corporation Ultra Petroleum Corp. Unifirst Corporation - Mass Union Pacific Corp. United Health Group, Inc. United Parcel Service CL B United Technologies Corp. Unumprovident Corp. US Bancorp Del Valero 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 23,545 13,900 18,500 14,579 62,370 491,193 91,880 115,130 27,200 18,806 2,950 85,070 6,550 28,941 10,000 46,920 10,040 0 0 0 0 0 0 0 0 0 0 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 Vanguard FTSE All World Vanguard Growth ETF Vanguard Health Care Vipers Vanguard Industrial VPR Vanguard Information Tech. Vanguard Intl. Equity Index Fd. Vanguard Intl. Equity Index Fd. Verizon Communications VF Corporation Wachovia Corporation New Walgreen Company Wal-Mart Stores, Inc. Webzen, Inc. WellPoint, Inc. Wells Fargo & Co. Williams Partners LP Wyeth common common common common common common common common common common common common common common common common common 922042775 922908736 92204A504 92204A603 92204A702 922042866 922042858 92343V104 918204108 929903102 931422109 931142103 94846M102 94973V107 949746101 96950F104 983024100 $322,326 $790,926 $359,366 $200,226 $1,024,140 $506,238 $1,421,786 $424,645 $2,171,610 $11,517,599 $9,299,714 $4,589,754 $89,608 $6,184,329 $1,289,800 $210,732 $1,081,362 5,400 12,200 5,850 2,600 16,900 6,950 13,700 9,590 26,893 229,663 196,861 105,149 20,600 78,362 36,210 5,100 24,273 5,400 12,200 5,850 2,600 16,900 6,950 13,700 9,590 26,893 229,663 196,861 105,149 20,600 78,362 36,210 5,100 24,273
Vanguard FTSE All World Vanguard Growth ETF Vanguard Health Care Vipers Vanguard Industrial VPR Vanguard Information Tech. Vanguard Intl. Equity Index Fd. Vanguard Intl. Equity Index Fd. Verizon Communications VF Corporation Wachovia Corporation New Walgreen Company Wal-Mart Stores, Inc. Webzen, Inc. WellPoint, Inc. Wells Fargo & Co. Williams Partners LP Wyeth 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,400 12,200 5,850 2,600 16,900 6,950 13,700 9,590 26,893 229,663 196,861 105,149 20,600 78,362 36,210 5,100 24,273 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 XTO Energy, Inc. Zimmer Holdings, Inc. common common 98385X106 98956P102 $8,160,839 $3,350,151 131,967 41,365 131,967 41,365 Grand Total 09/30/07 $689,699,448
XTO Energy, Inc. Zimmer Holdings, Inc. 0 0 0 0 131,967 41,365 0 0 0 0