13F-HR 1 dm12310813f-hrb.txt 4TH QUARTER 2008 13F 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, 2008 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 11th day of February, 2009. 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: 220 FORM 13F INFORMATION TABLE VALUE TOTAL: $357,979,692 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 Blizzard, Inc. Agnico-Eagle Mines Ltd. Agrium, Inc. Akamai Technologies Alliance One International Altria Group, Inc. Ampco Pittsburgh Corp. Apache Corp. Apple, Inc. AT&T Corp. Atlas Energy Resources LLC Automatic Data Processing, Inc. Balchem Corp. common common common common common common common common common common common common common common common common 88579Y101 2824100 G1150G111 4930202 8474108 8916108 00971T101 18772103 02209S103 32037103 37411105 37833100 00206R102 49303100 53015103 57665200 $7,450,164 $1,534,975 $648,127 $1,860,883 $326,715 $212,971 $612,654 $469,586 $638,604 $1,143,699 $4,010,832 $2,924,774 $1,820,438 $446,950 $1,135,116 $3,501,873 129,478 28,761 19,766 215,380 6,365 6,240 40,600 159,723 42,404 52,705 53,815 34,268 63,875 35,000 28,854 140,581 129,478 28,761 19,766 215,380 6,365 6,240 40,600 159,723 42,404 52,705 53,815 34,268 63,875 35,000 28,854 140,581
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 Blizzard, Inc. Agnico-Eagle Mines Ltd. Agrium, Inc. Akamai Technologies Alliance One International Altria Group, Inc. Ampco Pittsburgh Corp. Apache Corp. Apple, Inc. AT&T Corp. Atlas Energy Resources LLC Automatic Data Processing, Inc. Balchem 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 0 129,478 28,761 19,766 215,380 6,365 6,240 40,600 159,723 42,404 52,705 53,815 34,268 63,875 35,000 28,854 140,581 0 0 0 0 0 0 0 0 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 BancInsurance Corp Bank of America Corp. Bank of Carolinas Bank of Carolinas; Mocksville NC Barrick Gold Corp. Baxter International, Inc. BB&T Corporation Becton Dickinson & Co. Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A BHP Billiton Ltd. ADR Blackrock Broad Inv. 2009 Blackrock Core Bd. Trust Blackrock Floating Rate Income 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 05945K102 60505104 06425J102 06423T102 67901108 71813109 54937107 75887109 84670207 84670108 88606108 09247Q106 09249 E101 09255X100 92475102 09247F100 92474105 $628,928 $9,165,362 $382,500 $72,093 $312,545 $214,360 $9,853,939 $381,411 $13,013,486 $2,221,800 $3,256,196 $211,410 $224,179 $109,500 $280,751 $525,525 $218,440 172,309 650,949 90,000 16,963 8,500 4,000 358,847 5,577 4,049 23 75,902 17,400 20,473 12,500 33,225 89,375 21,500 172,309 650,949 90,000 16,963 8,500 4,000 358,847 5,577 4,049 23 75,902 17,400 20,473 12,500 33,225 89,375 21,500
BancInsurance Corp Bank of America Corp. Bank of Carolinas Bank of Carolinas; Mocksville NC Barrick Gold Corp. Baxter International, Inc. BB&T Corporation Becton Dickinson & Co. Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A BHP Billiton Ltd. ADR Blackrock Broad Inv. 2009 Blackrock Core Bd. Trust Blackrock Floating Rate Income 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 0 172,309 650,949 90,000 16,963 8,500 4,000 358,847 5,577 4,049 23 75,902 17,400 20,473 12,500 33,225 89,375 21,500 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
5 Blackrock Invt. Qlty Muni Blackrock Ltd. Duration Blackrock Mun 2018 Fd. Blackrock NY Mun. Inc. TST NY Blackrock NY Mun. Income Trust Blackrock Strat. Muni Tr Blackrock Strategic Bond Boardwalk Pipeline Partners Boeing Company BP PLC Sponsored ADR Breakwater Resources Ltd Buckeye Partners LP Canadian Nat. Res. Ltd. Capital Bank Corp. Cardinal Financial Group Carmax, Inc. Cass Information Systems, Inc. common common common common common common common common common common common common common common common common common 09247D105 09249W101 09248C106 09249U105 09249R102 09248T109 09249G106 96627104 97023105 55622104 106902307 118230101 136385101 139793103 14149F109 149123101 14808P109 $194,586 $329,411 $356,675 $92,500 $93,700 $256,347 $293,141 $533,400 $620,635 $1,339,896 $14,300 $883,650 $367,816 $857,617 $398,300 $152,084 $367,287 22,600 30,700 27,500 10,000 10,000 31,300 33,850 30,000 14,545 28,667 143,000 27,400 9,200 139,677 70,000 19,300 12,058 22,600 30,700 27,500 10,000 10,000 31,300 33,850 30,000 14,545 28,667 143,000 27,400 9,200 139,677 70,000 19,300 12,058
Blackrock Invt. Qlty Muni Blackrock Ltd. Duration Blackrock Mun 2018 Fd. Blackrock NY Mun. Inc. TST NY Blackrock NY Mun. Income Trust Blackrock Strat. Muni Tr Blackrock Strategic Bond Boardwalk Pipeline Partners Boeing Company BP PLC Sponsored ADR Breakwater Resources Ltd Buckeye Partners LP Canadian Nat. Res. Ltd. Capital Bank Corp. Cardinal Financial Group Carmax, Inc. Cass Information Systems, 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 22,600 30,700 27,500 10,000 10,000 31,300 33,850 30,000 14,545 28,667 143,000 27,400 9,200 139,677 70,000 19,300 12,058 0 0 0 0 0 0 0 0 0 0 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 Caterpillar, Inc. Celgene Corp. Chesapeake Energy Corp. Chevron Corporation Cisco Systems, Inc. Citigroup, Inc. Coca-Cola Company Colgate-Palmolive Co. CommScope, Inc. Concepts Direct ConocoPhillips Cooperative Bankshares, Inc. CVS Caremark Corp. DCP Midstream Partners LP Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt Company common common common common common common common common common common common common common common common common common 149123101 151020104 165167107 166764100 17275R102 172967101 191216100 194162103 203372107 206013104 20825C104 216844100 126650100 23311P100 249030107 25179M103 254687106 $5,145,269 $1,933,971 $685,899 $1,574,969 $8,144,507 $260,153 $2,534,079 $5,591,219 $1,588,965 $3,393 $917,792 $67,500 $1,631,570 $169,200 $338,880 $6,743,620 $1,342,091 115,184 34,985 42,418 21,292 499,663 38,771 55,977 81,576 102,250 18,850 17,718 30,000 56,770 18,000 12,000 102,627 59,149 115,184 34,985 42,418 21,292 499,663 38,771 55,977 81,576 102,250 18,850 17,718 30,000 56,770 18,000 12,000 102,627 59,149
Caterpillar, Inc. Celgene Corp. Chesapeake Energy Corp. Chevron Corporation Cisco Systems, Inc. Citigroup, Inc. Coca-Cola Company Colgate-Palmolive Co. CommScope, Inc. Concepts Direct ConocoPhillips Cooperative Bankshares, Inc. CVS Caremark Corp. DCP Midstream Partners LP Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt 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 0 115,184 34,985 42,418 21,292 499,663 38,771 55,977 81,576 102,250 18,850 17,718 30,000 56,770 18,000 12,000 102,627 59,149 0 0 0 0 0 0 0 0 0 0 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 Duke Energy Corporation Eaton Corp El Paso Pipeline Partners LP EMC Corp. MASS Emerson Electric Encana Corp. Energy Transfer Equity LP Enterprise GP Holdings LP Enterprise Products Partners Equitable Resources, Inc. Exactech, Inc. Express Scripts, Inc. Exxon Mobile Corporation Falconstor Software, Inc. Fidelity National Info. Services First Citizens Bancshares CL A FNB United Corp. common common common common common common common common common common common common common common common common common 264399106 278058102 283702108 268648102 291011104 292505104 29273V100 293716106 293792107 294549100 30064 109 302182100 302290101 306137100 31620M106 31946M103 302519103 $541,681 $231,052 $592,800 $299,086 $1,503,243 $1,588,082 $162,100 $174,300 $1,865,700 $358,951 $336,800 $730,134 $6,220,593 $2,502,689 $392,107 $1,032,775 $47,103 36,088 4,648 38,000 28,566 41,061 34,167 10,000 10,000 90,000 10,699 20,000 13,280 77,923 900,248 24,100 6,759 15,001 36,088 4,648 38,000 28,566 41,061 34,167 10,000 10,000 90,000 10,699 20,000 13,280 77,923 900,248 24,100 6,759 15,001
Duke Energy Corporation Eaton Corp El Paso Pipeline Partners LP EMC Corp. MASS Emerson Electric Encana Corp. Energy Transfer Equity LP Enterprise GP Holdings LP Enterprise Products Partners Equitable Resources, Inc. Exactech, Inc. Express Scripts, Inc. Exxon Mobile Corporation Falconstor Software, Inc. Fidelity National Info. Services First Citizens Bancshares CL A FNB United 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 36,088 4,648 38,000 28,566 41,061 34,167 10,000 10,000 90,000 10,699 20,000 13,280 77,923 900,248 24,100 6,759 15,001 0 0 0 0 0 0 0 0 0 0 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 Forest Oil Corp. Foster Wheeler FPL Group, Inc. FX Energy, Inc. Gamestop Corp. Genentech, Inc. New General Dynamics Corp. General Electric Company Gilead Sciences, Inc. Given Imaging Glaxo Smith Kline PLC GlaxoSmithKline PLC ORDF Goldman Sachs Group, Inc. Google, Inc. CL A Green Mountain Coffee Roaster Harold's Stores Hawkins, Inc. common common common common common common common common common common common common common common common common common 346091705 G36535139 302571104 302695101 36467W109 368710406 369550108 369604103 375558103 M52020100 37733W105 G3910J112 38141G104 38259P508 393122106 413353202 420261109 $315,536 $373,379 $247,825 $2,114,828 $936,037 $2,505,955 $391,612 $7,682,348 $710,846 $666,730 $298,309 $215,935 $336,041 $3,240,477 $1,998,971 $160 $1,200,953 19,135 15,970 4,924 758,003 43,215 30,225 6,800 474,219 13,900 80,523 8,004 11,697 3,982 10,533 51,653 320,298 78,545 19,135 15,970 4,924 758,003 43,215 30,225 6,800 474,219 13,900 80,523 8,004 11,697 3,982 10,533 51,653 320,298 78,545
Forest Oil Corp. Foster Wheeler FPL Group, Inc. FX Energy, Inc. Gamestop Corp. Genentech, Inc. New General Dynamics Corp. General Electric Company Gilead Sciences, Inc. Given Imaging Glaxo Smith Kline PLC GlaxoSmithKline PLC ORDF Goldman Sachs Group, Inc. Google, Inc. CL A Green Mountain Coffee Roaster Harold's Stores Hawkins, 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 19,135 15,970 4,924 758,003 43,215 30,225 6,800 474,219 13,900 80,523 8,004 11,697 3,982 10,533 51,653 320,298 78,545 0 0 0 0 0 0 0 0 0 0 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 Hewlet-Packard Company Highwood Properties, Inc. REIT Hubbell Inc. Class B Intel Corp International Business Machines Ipath MSCI India ETN Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Brazil Free Indx Fund Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI Japan Index Ishares MSCI Pac Ex-Japan Indx Fd Ishares Russell Midcap Val Indx Fd Ishares Russsell Mid-Cap Growth Ishares S&P 500 Index Fund Ishares S&P GLB ERG Sect common common common common common common common common common common common common common common common common common 428236103 431284108 443510201 458140100 459200101 06739F291 464287184 464287176 464286400 464287465 464287234 464286848 464286665 464287473 464287481 464287200 464287341 $721,736 $2,064,859 $396,899 $4,912,470 $1,222,003 $341,142 $451,011 $5,039,705 $631,465 $1,739,043 $3,705,972 $172,440 $263,474 $283,689 $244,610 $744,606 $811,965 19,888 75,470 12,145 335,093 14,520 10,782 15,504 50,783 18,047 38,766 148,417 18,000 9,999 9,975 7,820 8,245 27,750 19,888 75,470 12,145 335,093 14,520 10,782 15,504 50,783 18,047 38,766 148,417 18,000 9,999 9,975 7,820 8,245 27,750
Hewlet-Packard Company Highwood Properties, Inc. REIT Hubbell Inc. Class B Intel Corp International Business Machines Ipath MSCI India ETN Ishares FTSE XINHUA Ishares Lehman Treasury Ishares MSCI Brazil Free Indx Fund Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI Japan Index Ishares MSCI Pac Ex-Japan Indx Fd Ishares Russell Midcap Val Indx Fd Ishares Russsell Mid-Cap Growth Ishares S&P 500 Index Fund Ishares S&P GLB ERG Sect 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19,888 75,470 12,145 335,093 14,520 10,782 15,504 50,783 18,047 38,766 148,417 18,000 9,999 9,975 7,820 8,245 27,750 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
10 Ishares S&P GLB Health Care Ishares TR Barclys Bnd 1-3 Yrs TRS Ishares TR RUS 2000 I FD Ishares TR Russell Midcap Indx Fnd Johnson & Johnson Kellogg Company Kimberly-Clark Corp Kinder Morgan Energy Partners LP Kinross Gold Corp. Kraft Foods, Inc. CL A L-3 Communications Holdings, Inc. Lab CP of America Holding New Lee Enterprises, Inc. Lender Processing Services Lincoln National Corp. Lowes Companies Inc. Magellan Midstream Holdings LP common common common common common common common common common common common common common common common common common 464287325 464287457 464287655 464287499 478160104 487836108 494368103 494550106 496902404 50075N104 502424104 50540R409 523768109 52602 E102 534187109 548661107 55907R108 $380,100 $719,593 $762,974 $1,088,696 $13,573,362 $4,034,726 $722,538 $366,000 $193,410 $426,083 $1,863,314 $296,286 $181,503 $354,873 $245,994 $11,082,226 $783,655 8,400 8,500 15,495 18,230 226,865 92,012 13,700 8,000 10,500 15,869 25,255 4,600 442,691 12,050 13,057 514,973 56,500 8,400 8,500 15,495 18,230 226,865 92,012 13,700 8,000 10,500 15,869 25,255 4,600 442,691 12,050 13,057 514,973 56,500
Ishares S&P GLB Health Care Ishares TR Barclys Bnd 1-3 Yrs TRS Ishares TR RUS 2000 I FD Ishares TR Russell Midcap Indx Fnd Johnson & Johnson Kellogg Company Kimberly-Clark Corp Kinder Morgan Energy Partners LP Kinross Gold Corp. Kraft Foods, Inc. CL A L-3 Communications Holdings, Inc. Lab CP of America Holding New Lee Enterprises, Inc. Lender Processing Services Lincoln National Corp. Lowes Companies Inc. Magellan Midstream Holdings LP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8,400 8,500 15,495 18,230 226,865 92,012 13,700 8,000 10,500 15,869 25,255 4,600 442,691 12,050 13,057 514,973 56,500 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
11 Market Vectors ETF TR Global Mastercard, Inc. McDonalds Corporation Media General, Inc. Medical Facilities Corp. Medtronic, Inc. Merck & Co. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Midcap SPDR Trust Unit SER Moore-Handley, Inc. Morgan, JP Chase & Co. Mosaic Company National Dentex Corp. Newbridge Bancorp Nokia Corp. common common common common common common common common common common common common common common common common common 57060U605 57636Q104 580135101 584404107 58457V206 585055106 589331107 591520200 592688105 594918104 595635103 615762101 46625H100 61945A107 63563H109 65080T102 654902204 $786,066 $397,345 $4,230,350 $145,756 $64,216 $3,918,043 $3,179,901 $121,320 $613,340 $10,389,187 $344,918 $11,970 $560,067 $728,330 $978,095 $41,648 $3,418,662 28,225 2,780 68,023 83,289 10,500 124,699 104,602 18,000 9,100 534,423 3,550 17,100 17,763 21,050 214,966 17,499 219,145 28,225 2,780 68,023 83,289 10,500 124,699 104,602 18,000 9,100 534,423 3,550 17,100 17,763 21,050 214,966 17,499 219,145
Market Vectors ETF TR Global Mastercard, Inc. McDonalds Corporation Media General, Inc. Medical Facilities Corp. Medtronic, Inc. Merck & Co. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Midcap SPDR Trust Unit SER Moore-Handley, Inc. Morgan, JP Chase & Co. Mosaic Company National Dentex Corp. Newbridge Bancorp Nokia 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 28,225 2,780 68,023 83,289 10,500 124,699 104,602 18,000 9,100 534,423 3,550 17,100 17,763 21,050 214,966 17,499 219,145 0 0 0 0 0 0 0 0 0 0 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 Norfolk Southern Corp. Norvartis A G Spon ADR F NovaGold Resources, Inc. Nustar GP Holdings LLC 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 Slct TaxFree Inc Portfolio 3 Oil Service Holders Dep. Old Rep. Intl. Corp. Penn Virginia Group Holding LP Pepsico, Inc. Petroleo Brasileiro Pfizer, Inc. common common common common common common common common common common common common common common common common common 655844108 66987V109 66987 E206 67059L102 67070F100 67062H106 67071D104 67072D103 67071S101 67071B108 67063X100 678002106 680223104 70788P105 713448108 71654V408 717081103 $202,315 $247,108 $832,745 $176,800 $142,875 $207,800 $299,481 $398,012 $53,460 $102,870 $149,160 $313,216 $438,382 $357,480 $17,553,402 $1,653,687 $2,767,772 4,300 4,966 566,493 10,000 12,500 20,000 27,300 35,241 11,000 20,250 11,000 4,247 36,777 36,000 320,493 67,525 156,283 4,300 4,966 566,493 10,000 12,500 20,000 27,300 35,241 11,000 20,250 11,000 4,247 36,777 36,000 320,493 67,525 156,283
Norfolk Southern Corp. Norvartis A G Spon ADR F NovaGold Resources, Inc. Nustar GP Holdings LLC 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 Slct TaxFree Inc Portfolio 3 Oil Service Holders Dep. Old Rep. Intl. Corp. Penn Virginia Group Holding LP Pepsico, Inc. Petroleo Brasileiro Pfizer, 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 4,300 4,966 566,493 10,000 12,500 20,000 27,300 35,241 11,000 20,250 11,000 4,247 36,777 36,000 320,493 67,525 156,283 0 0 0 0 0 0 0 0 0 0 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 Philip Morris International, Inc. Pimco Corporate Opportunity Fund Potash Corp. Sask, Inc. Powershares Exchange Global Water Powershares Exch Trad Fd Tr Cln Enrgy Praxair, Inc. Procter & Gamble Progress Energy, Inc. Proshares TR Ultra S&P 500 Qualcomm, Inc. Range Resources, Inc. Regions Financial Corp. Republic Services, Inc. Research in Motion Ruddick Corp. S P D R Trust Unit Saic, Inc. common common common common common common common common common common common common common common common common common 718172109 72201B101 73755L107 73936T623 73935X500 74005P104 742718109 743263105 74347R107 747525103 75281A109 758940100 760759100 760975102 781258108 78462F103 78390X101 $4,321,892 $125,520 $333,151 $721,155 $512,028 $383,703 $13,698,694 $312,942 $262,280 $2,284,413 $378,290 $115,293 $259,056 $214,668 $793,361 $3,300,708 $650,632 99,331 12,000 4,550 54,500 59,400 6,464 221,590 7,853 9,984 63,757 11,000 14,484 10,450 5,290 28,693 36,577 33,400 99,331 12,000 4,550 54,500 59,400 6,464 221,590 7,853 9,984 63,757 11,000 14,484 10,450 5,290 28,693 36,577 33,400
Philip Morris International, Inc. Pimco Corporate Opportunity Fund Potash Corp. Sask, Inc. Powershares Exchange Global Water Powershares Exch Trad Fd Tr Cln Enrgy Praxair, Inc. Procter & Gamble Progress Energy, Inc. Proshares TR Ultra S&P 500 Qualcomm, Inc. Range Resources, Inc. Regions Financial Corp. Republic Services, Inc. Research in Motion Ruddick Corp. S P D R Trust Unit 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 99,331 12,000 4,550 54,500 59,400 6,464 221,590 7,853 9,984 63,757 11,000 14,484 10,450 5,290 28,693 36,577 33,400 0 0 0 0 0 0 0 0 0 0 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 Sara Lee Corporation SCBT Finanical Corp. Solar Enertech Corp. Sonoco Products Southern Community Financial Spectra Energy Corp. Stericycle, Inc. Sunpower Corp. - CL A Suntrust Banks, Inc. Sysco Corporation Take Two Interactive Software Target Corporation Teekay Offshore Partners LP Teva Pharmaceutical Toyota Motor CP ADR Triad Guaranty Inc. U S G Corporation common common common common common common common common common common common common common common common common common 803111103 78401V102 834156101 835495102 842632101 847560109 858912108 867652109 867914103 871829107 874054109 87612E106 Y8565J101 881624209 892331307 895925105 903293405 $134,877 $1,258,422 $2,000 $2,448,174 $158,810 $238,823 $1,041,600 $329,670 $719,506 $5,232,063 $108,108 $1,725,361 $327,000 $5,202,395 $4,668,620 $180,213 $629,620 13,777 36,476 10,000 105,707 45,245 15,173 20,000 8,910 24,357 228,076 14,300 49,967 30,000 122,208 71,342 474,245 78,311 13,777 36,476 10,000 105,707 45,245 15,173 20,000 8,910 24,357 228,076 14,300 49,967 30,000 122,208 71,342 474,245 78,311
Sara Lee Corporation SCBT Finanical Corp. Solar Enertech Corp. Sonoco Products Southern Community Financial Spectra Energy Corp. Stericycle, Inc. Sunpower Corp. - CL A Suntrust Banks, Inc. Sysco Corporation Take Two Interactive Software Target Corporation Teekay Offshore Partners LP Teva Pharmaceutical Toyota Motor CP ADR Triad Guaranty Inc. U S G 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 13,777 36,476 10,000 105,707 45,245 15,173 20,000 8,910 24,357 228,076 14,300 49,967 30,000 122,208 71,342 474,245 78,311 0 0 0 0 0 0 0 0 0 0 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 Ultra Petroleum Corp. Unifirst Corporation - Mass Union Pacific Corp. United Health Group, Inc. United Technologies Corp. US Bancorp Del Vanguard Growth ETF Vanguard Intl. Equity Index Fd. Verizon Communications VF Corporation Wachovia Corporation New Walgreen Company Wal-Mart Stores, Inc. Wells Fargo & Co. Wyeth XTO Energy, Inc. Zimmer Holdings, Inc. common common common common common common common common common common common common common common common common common 903914109 904708104 907818108 91324P102 913017109 902973304 922908736 922042858 92343V104 918204108 929903102 931422109 931142103 949746101 983024100 98385X106 98956P102 $352,002 $528,660 $418,489 $274,884 $5,621,622 $1,635,404 $221,256 $1,530,282 $200,213 $1,294,927 $2,543,242 $4,036,283 $5,534,299 $507,351 $765,729 $4,357,609 $985,844 10,200 17,806 8,755 10,334 104,881 65,390 5,600 64,925 5,906 23,643 459,069 163,611 98,721 17,210 20,414 123,550 24,390 10,200 17,806 8,755 10,334 104,881 65,390 5,600 64,925 5,906 23,643 459,069 163,611 98,721 17,210 20,414 123,550 24,390 Grand Total 12/31/08 $357,979,692
Ultra Petroleum Corp. Unifirst Corporation - Mass Union Pacific Corp. United Health Group, Inc. United Technologies Corp. US Bancorp Del Vanguard Growth ETF Vanguard Intl. Equity Index Fd. Verizon Communications VF Corporation Wachovia Corporation New Walgreen Company Wal-Mart Stores, 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 0 0 0 0 0 0 0 0 0 0 0 0 10,200 17,806 8,755 10,334 104,881 65,390 5,600 64,925 5,906 23,643 459,069 163,611 98,721 17,210 20,414 123,550 24,390 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0