13F-HR 1 dm03311113f-hrb.txt 1ST QUARTER 2011 13F-HR 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: March 31, 2011 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, Vice 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 13th day of May, 2011. 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: 277 FORM 13F INFORMATION TABLE VALUE TOTAL: $568,975,298 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 PLC CL A Activision Blizzard, Inc. Acuity Brands, Inc. Akamai Technologies Alberto-Culver Co. Alcoa, Inc. Alcon, Inc. Allergan, Inc. Alliance One International ALR Technologies, Inc. Altria Group, Inc. Amazon Com, Inc. American Electric Power Company American Express Company common common common common common common common common common common common common common common common common 88579Y101 002824100 G1151C101 00507V109 00508Y102 00971T101 01307800 13817101 H01301102 18490102 18772103 001630102 02209S103 023135106 025537101 25816109 $14,914,746 $3,783,128 $6,623,390 $866,378 $269,054 $297,160 $372,700 $1,071,079 $223,439 $270,444 $341,692 $38,000 $866,409 $216,156 $217,446 $256,962 159,516 77,128 120,491 78,977 4,600 7,820 10,000 60,650 1,350 3,808 84,998 200,000 33,285 1,200 6,188 5,685 159,516 77,128 120,491 78,977 4,600 7,820 10,000 60,650 1,350 3,808 84,998 200,000 33,285 1,200 6,188 5,685
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 PLC CL A Activision Blizzard, Inc. Acuity Brands, Inc. Akamai Technologies Alberto-Culver Co. Alcoa, Inc. Alcon, Inc. Allergan, Inc. Alliance One International ALR Technologies, Inc. Altria Group, Inc. Amazon Com, Inc. American Electric Power Company American Express 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 0 159,516 77,128 120,491 78,977 4,600 7,820 10,000 60,650 1,350 3,808 84,998 200,000 33,285 1,200 6,188 5,685 0 0 0 0 0 0 0 0 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 Angeion Corp. Apache Corp. Apple, Inc. AT&T Corp. Automatic Data Processing, Inc. Balchem Corp. Bank of America Corp. Bank of the Carolinas Barrick Gold Corp. Baxter International, Inc. BB&T Corporation Beazer Homes USA Inc. Becton Dickinson & Co. Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A BHP Billiton Ltd. ADR Bioclinica, Inc. common common common common common common common common common common common common common common common common common 03462H404 37411105 037833100 00206R102 53015103 057665200 60505104 06425J102 67901108 71813109 54937107 07556Q105 075887109 084670207 84670108 88606108 09071B100 $63,124 $8,060,090 $16,461,752 $1,898,654 $742,712 $6,748,685 $5,082,209 $29,677 $430,853 $256,375 $10,030,010 $463,855 $524,457 $15,844,540 $2,380,700 $5,617,609 $122,963 12,650 61,565 47,235 62,027 14,475 179,869 381,261 13,023 8,300 4,768 365,392 101,500 6,587 189,460 19 58,590 23,830 12,650 61,565 47,235 62,027 14,475 179,869 381,261 13,023 8,300 4,768 365,392 101,500 6,587 189,460 19 58,590 23,830
Angeion Corp. Apache Corp. Apple, Inc. AT&T Corp. Automatic Data Processing, Inc. Balchem Corp. Bank of America Corp. Bank of the Carolinas Barrick Gold Corp. Baxter International, Inc. BB&T Corporation Beazer Homes USA Inc. Becton Dickinson & Co. Berkshire Hathaway, Inc. CL B Berkshire Hathaway, Inc. DEL CL A BHP Billiton Ltd. ADR Bioclinica, 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 12,650 61,565 47,235 62,027 14,475 179,869 381,261 13,023 8,300 4,768 365,392 101,500 6,587 189,460 19 58,590 23,830 0 0 0 0 0 0 0 0 0 0 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 Biodelivery Sci International, Inc. Blue Coat Systems Boardwalk Pipeline Partners BP PLC Sponsored ADR Bristol Myers Squibb Co. Buckeye Partners LP Calumet Specialty Products Canadian Nat. Res. Ltd. Capital Bank Corp. Cass Information Systems, Inc. Caterpillar, Inc. Cenovus Energy Chesapeake Energy Corp. Chevron Texaco Corporation 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 09060J106 09534T508 096627104 55622104 110122108 118230101 131476103 136385101 139793103 14808P109 149123101 15135U109 165167107 166764100 17275R102 172967101 191216100 $77,660 $1,209,331 $2,057,580 $657,774 $522,442 $883,206 $1,168,750 $939,170 $183,000 $473,759 $12,392,030 $247,700 $554,857 $2,032,851 $7,865,710 $1,885,775 $4,821,193 22,000 42,945 63,000 14,902 19,767 13,900 55,000 19,000 48,158 12,058 111,289 6,290 16,553 18,912 458,642 426,646 72,674 22,000 42,945 63,000 14,902 19,767 13,900 55,000 19,000 48,158 12,058 111,289 6,290 16,553 18,912 458,642 426,646 72,674
Biodelivery Sci International, Inc. Blue Coat Systems Boardwalk Pipeline Partners BP PLC Sponsored ADR Bristol Myers Squibb Co. Buckeye Partners LP Calumet Specialty Products Canadian Nat. Res. Ltd. Capital Bank Corp. Cass Information Systems, Inc. Caterpillar, Inc. Cenovus Energy Chesapeake Energy Corp. Chevron Texaco Corporation 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 22,000 42,945 63,000 14,902 19,767 13,900 55,000 19,000 48,158 12,058 111,289 6,290 16,553 18,912 458,642 426,646 72,674 0 0 0 0 0 0 0 0 0 0 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 Colgate-Palmolive Co. Concepts Direct ConocoPhillips Credit Suisse ETN Curis, Inc. CVS Caremark Corp. Data I/O Corp. DCP Midstream Partners LP Deere & Co., Inc. Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt Company Duke Energy Corporation Dupont de nemours E.I. Easylink Services Intl. CL A Eaton Corp El Paso Pipeline Partners LP common common common common common common common common common common common common common common common common common 194162103 206013104 20825C104 22542D852 231269101 126650100 237690102 23311P100 244199105 249030107 25179M103 254687106 264399106 263534109 277858106 278058102 283702108 $6,323,427 $2,356 $2,808,124 $506,968 $32,500 $2,564,459 $157,040 $1,676,700 $287,763 $443,880 $11,101,233 $952,418 $1,019,740 $280,787 $125,434 $515,370 $2,608,560 78,299 18,850 35,163 20,070 10,000 74,722 26,000 41,400 2,970 12,000 120,968 22,103 56,184 5,108 30,298 9,296 72,000 78,299 18,850 35,163 20,070 10,000 74,722 26,000 41,400 2,970 12,000 120,968 22,103 56,184 5,108 30,298 9,296 72,000
Colgate-Palmolive Co. Concepts Direct ConocoPhillips Credit Suisse ETN Curis, Inc. CVS Caremark Corp. Data I/O Corp. DCP Midstream Partners LP Deere & Co., Inc. Dentsply Intl. Inc. New Devon Energy Corp. Disney, Walt Company Duke Energy Corporation Dupont de nemours E.I. Easylink Services Intl. CL A Eaton Corp El Paso Pipeline Partners 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 78,299 18,850 35,163 20,070 10,000 74,722 26,000 41,400 2,970 12,000 120,968 22,103 56,184 5,108 30,298 9,296 72,000 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 EMC Corp. MASS Emerson Electric Encana Corp. Encore Energy Partners LP Energy Transfer Equity LP Energy Transfer Partners LP Enterprise Products Partners EQT Corp. Exactech, Inc. Exterran Partners LP Exxon Mobile Corporation F5 Networks, Inc. Fidelity National Info. Services First Citizens Bancshares CL A FNB United Corp. Ford Motor Company Forest Oil Corp. common common common common common common common common common common common common common common common common common 268648102 291011104 292505104 29257A106 29273V100 29273R109 293792107 26884L109 30064 109 30225N105 302290101 315616102 31620M106 31946M103 302519103 345370860 346091705 $812,444 $1,202,723 $217,228 $1,690,560 $585,000 $2,613,880 $4,710,764 $517,663 $351,000 $561,400 $9,395,723 $379,509 $771,484 $1,032,987 $4,575 $518,779 $222,630 30,589 20,584 6,291 72,000 13,000 50,500 109,400 10,374 20,000 20,000 111,681 3,700 23,600 5,150 15,001 34,794 5,885 30,589 20,584 6,291 72,000 13,000 50,500 109,400 10,374 20,000 20,000 111,681 3,700 23,600 5,150 15,001 34,794 5,885
EMC Corp. MASS Emerson Electric Encana Corp. Encore Energy Partners LP Energy Transfer Equity LP Energy Transfer Partners LP Enterprise Products Partners EQT Corp. Exactech, Inc. Exterran Partners LP Exxon Mobile Corporation F5 Networks, Inc. Fidelity National Info. Services First Citizens Bancshares CL A FNB United Corp. Ford Motor Company Forest Oil 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 30,589 20,584 6,291 72,000 13,000 50,500 109,400 10,374 20,000 20,000 111,681 3,700 23,600 5,150 15,001 34,794 5,885 0 0 0 0 0 0 0 0 0 0 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 Freeport McMoran Copper & Gold Gamestop Corp. General Dynamics Corp. General Electric Company Gerdau SA Spons ADR Gilead Sciences, Inc. Glaxo Smith Kline PLC Global Partners LP Goldman Sachs Group, Inc. Google, Inc. CL A Green Mountain Coffee Roaster Hatteras Financial Corp. Hawkins, Inc. Hewlet-Packard Company Highwood Properties, Inc. REIT Home Depot, Inc. Hubbell Inc. Class B common common common common common common common common common common common common common common common common common 35671D857 36467W109 369550108 369604103 373737105 375558103 37733W105 37946R109 38141G104 38259P508 393122106 41902R103 420261109 428236103 431284108 437076102 443510201 $2,767,834 $747,101 $450,402 $10,310,472 $184,688 $924,784 $231,804 $241,800 $4,765,771 $6,223,763 $2,442,904 $1,048,876 $744,370 $955,707 $1,429,598 $247,042 $817,626 49,826 33,175 5,883 514,238 14,775 21,775 6,035 9,300 30,049 10,607 37,810 37,300 18,120 23,327 40,834 6,666 11,511 49,826 33,175 5,883 514,238 14,775 21,775 6,035 9,300 30,049 10,607 37,810 37,300 18,120 23,327 40,834 6,666 11,511
Freeport McMoran Copper & Gold Gamestop Corp. General Dynamics Corp. General Electric Company Gerdau SA Spons ADR Gilead Sciences, Inc. Glaxo Smith Kline PLC Global Partners LP Goldman Sachs Group, Inc. Google, Inc. CL A Green Mountain Coffee Roaster Hatteras Financial Corp. Hawkins, Inc. Hewlet-Packard Company Highwood Properties, Inc. REIT Home Depot, Inc. Hubbell Inc. Class B 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 49,826 33,175 5,883 514,238 14,775 21,775 6,035 9,300 30,049 10,607 37,810 37,300 18,120 23,327 40,834 6,666 11,511 0 0 0 0 0 0 0 0 0 0 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 Huntington Bancshares, Inc. IAMGOLD Corp. IMPAX Labs, Inc. Infinera Corp. Integramed America Intel Corp International Business Machines Ipath MSCI India ETN Ipath US Treasury 10-Year Iridium Communications Inc. Ishares FTSE XINHUA Ishares Gold Trust Ishares Lehman Treasury Ishares MSCI Brazil Free Indx Fund Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI Hong Kong common common common common common common common common common common common common common common common common common 446150104 450913108 45256B101 45667G103 45810N302 458140100 459200101 06739F291 06740L451 46269C102 464287184 464285105 464287176 464286400 464287465 464287234 464286871 $600,721 $631,754 $779,406 $482,131 $113,520 $6,077,631 $6,687,664 $1,235,101 $531,000 $359,100 $2,710,498 $2,143,308 $4,563,761 $496,064 $4,313,083 $10,265,168 $700,845 90,470 28,690 30,625 57,465 11,000 301,171 41,011 16,982 10,000 45,000 60,354 152,875 41,808 6,400 71,789 210,914 37,023 90,470 28,690 30,625 57,465 11,000 301,171 41,011 16,982 10,000 45,000 60,354 152,875 41,808 6,400 71,789 210,914 37,023
Huntington Bancshares, Inc. IAMGOLD Corp. IMPAX Labs, Inc. Infinera Corp. Integramed America Intel Corp International Business Machines Ipath MSCI India ETN Ipath US Treasury 10-Year Iridium Communications Inc. Ishares FTSE XINHUA Ishares Gold Trust Ishares Lehman Treasury Ishares MSCI Brazil Free Indx Fund Ishares MSCI Eafe Index Ishares MSCI Emerging Ishares MSCI Hong Kong 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 90,470 28,690 30,625 57,465 11,000 301,171 41,011 16,982 10,000 45,000 60,354 152,875 41,808 6,400 71,789 210,914 37,023 0 0 0 0 0 0 0 0 0 0 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 Japan Index Ishares MSCI Pacific Ex-Jap Indx Fd Ishares MSCI South Korea Index Ishares S&P GLB ERG Sect Ishares S&P GLB Health Care Ishares S&P GLB Materials Sector Ishares S&P Midcap 400 Index Ishares S&P Smallcap 600 Index Ishares TR Iboxx $ High Yield Corp. Ishares TR RUS 2000 I FD Ishares TR Russell 1000 Growth Ishares TR Russell Midcap Indx Fnd Ishares TR S&P Citigroup 1-3 Yr Intl Ishares TS and P500 I F Isle of Capri Casinos JDS Uniphase Corporation Johnson & Johnson common common common common common common common common common common common common common common common common common 464286848 464286665 464286772 464287341 464287325 464288695 464287507 464287804 464288513 464287655 464287614 464287499 464288125 464287200 464592104 46612J101 478160104 $1,032,000 $452,471 $907,335 $992,787 $210,990 $244,688 $1,287,178 $551,700 $725,223 $1,779,522 $253,369 $3,228,829 $1,308,304 $4,461,014 $190,000 $366,596 $11,293,287 100,000 9,366 14,100 22,350 3,900 3,280 13,040 7,500 7,886 21,142 4,190 29,625 12,200 33,539 20,000 17,591 190,604 100,000 9,366 14,100 22,350 3,900 3,280 13,040 7,500 7,886 21,142 4,190 29,625 12,200 33,539 20,000 17,591 190,604
Ishares MSCI Japan Index Ishares MSCI Pacific Ex-Jap Indx Fd Ishares MSCI South Korea Index Ishares S&P GLB ERG Sect Ishares S&P GLB Health Care Ishares S&P GLB Materials Sector Ishares S&P Midcap 400 Index Ishares S&P Smallcap 600 Index Ishares TR Iboxx $ High Yield Corp. Ishares TR RUS 2000 I FD Ishares TR Russell 1000 Growth Ishares TR Russell Midcap Indx Fnd Ishares TR S&P Citigroup 1-3 Yr Intl Ishares TS and P500 I F Isle of Capri Casinos JDS Uniphase Corporation 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 0 100,000 9,366 14,100 22,350 3,900 3,280 13,040 7,500 7,886 21,142 4,190 29,625 12,200 33,539 20,000 17,591 190,604 0 0 0 0 0 0 0 0 0 0 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 Kinder Morgan Energy Partners LP Kinder Morgan Hold Co. LLC Kraft Foods, Inc. CL A Krispy Kreme Doughnuts, Inc. L-3 Communications Holdings, Inc. Lab CP of America Holding New Lender Processing Services Lincoln National Corp. Linn Energy Lowes Companies Inc. Magellan Midstream Partners MagnaChip Semiconductor Corp. Main Street Capital Corp. Marathon Oil Corp. Market Vectors ETF Brazil Small common common common common common common common common common common common common common common common common common 487836108 494368103 494550106 49456B101 50075N104 501014104 502424104 50540R409 52602 E102 534187109 536020100 548661107 559080106 55933J203 56035L104 565849106 57060U613 $6,185,568 $334,257 $3,348,868 $323,076 $369,484 $88,704 $315,354 $396,159 $387,890 $294,993 $1,452,089 $11,221,999 $1,616,160 $357,500 $415,125 $302,108 $3,024,344 114,590 5,121 45,200 10,900 11,782 12,600 4,027 4,300 12,050 9,820 37,300 424,593 26,999 26,000 22,500 5,667 53,330 114,590 5,121 45,200 10,900 11,782 12,600 4,027 4,300 12,050 9,820 37,300 424,593 26,999 26,000 22,500 5,667 53,330
Kellogg Company Kimberly-Clark Corp Kinder Morgan Energy Partners LP Kinder Morgan Hold Co. LLC Kraft Foods, Inc. CL A Krispy Kreme Doughnuts, Inc. L-3 Communications Holdings, Inc. Lab CP of America Holding New Lender Processing Services Lincoln National Corp. Linn Energy Lowes Companies Inc. Magellan Midstream Partners MagnaChip Semiconductor Corp. Main Street Capital Corp. Marathon Oil Corp. Market Vectors ETF Brazil Small 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 114,590 5,121 45,200 10,900 11,782 12,600 4,027 4,300 12,050 9,820 37,300 424,593 26,999 26,000 22,500 5,667 53,330 0 0 0 0 0 0 0 0 0 0 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 Market Vectors ETF Jr Gold Miners Market Vectors ETF TR Global Market Vectors ETF TR Gold Miners Marvel Tech Group McDonalds Corporation Medco Health Solutions, Inc. Medical Facilities Corp. Mediware Information Sys. Medtronic, Inc. Merck & Co. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Morgan, JP Chase & Co. Morgan, JP Exch Trded NT Alrian MLP Mosaic Company National Presto Industries, Inc. common common common common common common common common common common common common common common common common common 57060U589 57060U605 57060U100 G5876H105 580135101 58405U102 58457V206 584946107 585055106 58933Y105 591520200 592688105 594918104 46625H100 46625H365 61945A107 6706D8104 $802,245 $1,465,726 $1,656,176 $162,498 $7,215,386 $1,619,654 $136,008 $124,200 $3,115,733 $5,751,230 $217,440 $1,307,200 $13,859,969 $4,719,257 $1,018,545 $4,181,625 $1,256,382 20,455 26,155 27,557 10,450 94,827 28,840 10,500 10,000 79,180 174,227 18,000 7,600 545,883 102,370 26,825 53,100 11,150 20,455 26,155 27,557 10,450 94,827 28,840 10,500 10,000 79,180 174,227 18,000 7,600 545,883 102,370 26,825 53,100 11,150
Market Vectors ETF Jr Gold Miners Market Vectors ETF TR Global Market Vectors ETF TR Gold Miners Marvel Tech Group McDonalds Corporation Medco Health Solutions, Inc. Medical Facilities Corp. Mediware Information Sys. Medtronic, Inc. Merck & Co. Methode Electronics, Inc. Class A Mettler-Toledo International, Inc. Microsoft Corporation Morgan, JP Chase & Co. Morgan, JP Exch Trded NT Alrian MLP Mosaic Company National Presto Industries, 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 20,455 26,155 27,557 10,450 94,827 28,840 10,500 10,000 79,180 174,227 18,000 7,600 545,883 102,370 26,825 53,100 11,150 0 0 0 0 0 0 0 0 0 0 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 Natural Resource Partners LP Netflix, Inc. Newbridge Bancorp Newfield Exploration Company Nextera Energy, Inc. Nokia Corp. Norfolk Southern Corp. NovaGold Resources, Inc. Novartis A G Spon ADR F Nuveen Energy MLP Total Return Occidental Pete. Corp. Oil Service Holders Dep. Old Dominion Freight Lines Old Rep. Intl. Corp. One Liberty Properties, Inc. Oracle Corp. Path 1 Network Techs. common common common common common common common common common common common common common common common common common 63900P103 64110L106 65080T102 651290108 65339F101 654902204 655844108 66987E206 66987V109 67074U103 674599105 678002106 679580100 680223104 682406103 68389X105 703186205 $876,750 $608,717 $117,785 $228,030 $273,946 $224,621 $303,472 $511,459 $269,902 $1,000,000 $320,575 $533,677 $261,140 $441,828 $527,800 $1,551,067 $49 25,000 2,560 23,747 3,000 4,970 26,395 4,381 39,343 4,966 50,000 3,068 3,247 7,442 34,817 35,000 46,394 29,000 25,000 2,560 23,747 3,000 4,970 26,395 4,381 39,343 4,966 50,000 3,068 3,247 7,442 34,817 35,000 46,394 29,000
Natural Resource Partners LP Netflix, Inc. Newbridge Bancorp Newfield Exploration Company Nextera Energy, Inc. Nokia Corp. Norfolk Southern Corp. NovaGold Resources, Inc. Novartis A G Spon ADR F Nuveen Energy MLP Total Return Occidental Pete. Corp. Oil Service Holders Dep. Old Dominion Freight Lines Old Rep. Intl. Corp. One Liberty Properties, Inc. Oracle Corp. Path 1 Network Techs. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25,000 2,560 23,747 3,000 4,970 26,395 4,381 39,343 4,966 50,000 3,068 3,247 7,442 34,817 35,000 46,394 29,000 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
14 Patriot Coal Corp. Penn Virginia Resource Partners LP PennyMac Mortgage Investment Reit Pepsico, Inc. Perrigo Company Petrohawk Energy Corp. Petroleo Brasileiro Pfizer, Inc. Philip Morris International, Inc. Piedmont Natural Gas Pimco Corporate Opportunity Fund Pioneer Natural Res. Co. Plains All American Pipeline LP Powershares QQQ TR Unit Ser 1 Praxair, Inc. Procter & Gamble Progress Energy, Inc. common common common common common common common common common common common common common common common common common 70336T104 707884102 70931T103 713448108 714290103 716495106 71654V408 717081103 718172109 720186105 72201B101 723787107 726503105 73935A104 74005P104 742718109 743263105 $785,490 $2,660,308 $919,500 $19,413,496 $594,014 $663,071 $1,877,893 $4,148,967 $7,840,357 $229,598 $249,240 $509,600 $1,274,600 $297,258 $357,327 $12,635,638 $366,444 30,410 96,040 50,000 301,405 7,470 27,020 46,448 204,282 119,463 7,565 12,000 5,000 20,000 5,176 3,517 205,124 7,942 30,410 96,040 50,000 301,405 7,470 27,020 46,448 204,282 119,463 7,565 12,000 5,000 20,000 5,176 3,517 205,124 7,942
Patriot Coal Corp. Penn Virginia Resource Partners LP PennyMac Mortgage Investment Reit Pepsico, Inc. Perrigo Company Petrohawk Energy Corp. Petroleo Brasileiro Pfizer, Inc. Philip Morris International, Inc. Piedmont Natural Gas Pimco Corporate Opportunity Fund Pioneer Natural Res. Co. Plains All American Pipeline LP Powershares QQQ TR Unit Ser 1 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 30,410 96,040 50,000 301,405 7,470 27,020 46,448 204,282 119,463 7,565 12,000 5,000 20,000 5,176 3,517 205,124 7,942 0 0 0 0 0 0 0 0 0 0 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 Proshares Short MSCI Emerging Puda Coal, Inc. Qualcomm, Inc. Raytheon Company Regions Financial Corp. Response Cap Corp. Ruddick Corp. Rydex S&P Equal Wt. ETF S P D R Trust Unit Saic, Inc. Sara Lee Corporation SCBT Finanical Corp. Schlumberger Ltd. SCHW Emerging Market EQ ETF Sempra Energy Silver Wheaton Corporation SilverCorp Metals, Inc. common common common common common common common common common common common common common common common common common 74347R396 744674300 747525103 755111507 758940100 76120W302 781258108 78355W106 78462F103 78390X101 803111103 78401V102 806857108 808524706 816851109 828336107 82835P103 $296,300 $167,825 $8,050,305 $393,225 $110,599 $494,250 $1,011,598 $454,140 $2,091,607 $727,881 $212,287 $802,381 $345,528 $1,025,505 $208,918 $1,227,088 $871,140 10,000 13,700 146,823 7,730 15,234 75,000 26,214 9,000 15,775 43,019 12,014 24,110 3,705 35,060 3,905 28,300 59,790 10,000 13,700 146,823 7,730 15,234 75,000 26,214 9,000 15,775 43,019 12,014 24,110 3,705 35,060 3,905 28,300 59,790
Proshares Short MSCI Emerging Puda Coal, Inc. Qualcomm, Inc. Raytheon Company Regions Financial Corp. Response Cap Corp. Ruddick Corp. Rydex S&P Equal Wt. ETF S P D R Trust Unit Saic, Inc. Sara Lee Corporation SCBT Finanical Corp. Schlumberger Ltd. SCHW Emerging Market EQ ETF Sempra Energy Silver Wheaton Corporation SilverCorp Metals, 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 10,000 13,700 146,823 7,730 15,234 75,000 26,214 9,000 15,775 43,019 12,014 24,110 3,705 35,060 3,905 28,300 59,790 0 0 0 0 0 0 0 0 0 0 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 Skyworks Solutions, Inc. SmartHeat, Inc. So. Community Cap TR II Sodastream International Solar Enertech Corp. Solar Senior Capital Ltd. Solutia, Inc. Sonoco Products Southern Community Financial SPDR Gold Trust SPDR S&P China ETF SPDR S&P Midcap 400 ETF Spectra Energy Corp. Stericycle, Inc. Stryker Corporation Sunoco Logistics Partners LP Suntrust Banks, Inc. common common common common common common common common common common common common common common common common common 83088M102 83172F104 842633208 M9068E105 834156101 83416M105 834376501 835495102 842632101 78463V107 78463X400 78467Y107 847560109 858912108 863667101 86764L108 867914103 $1,159,434 $284,000 $420,771 $491,986 $1,260 $279,450 $563,245 $4,041,964 $49,330 $2,650,347 $3,355,416 $431,818 $1,798,772 $1,064,040 $557,354 $867,800 $406,702 35,785 100,000 129,071 11,230 10,000 15,000 22,175 111,564 33,788 18,950 41,760 2,405 66,180 12,000 9,167 10,000 14,102 35,785 100,000 129,071 11,230 10,000 15,000 22,175 111,564 33,788 18,950 41,760 2,405 66,180 12,000 9,167 10,000 14,102
Skyworks Solutions, Inc. SmartHeat, Inc. So. Community Cap TR II Sodastream International Solar Enertech Corp. Solar Senior Capital Ltd. Solutia, Inc. Sonoco Products Southern Community Financial SPDR Gold Trust SPDR S&P China ETF SPDR S&P Midcap 400 ETF Spectra Energy Corp. Stericycle, Inc. Stryker Corporation Sunoco Logistics Partners LP Suntrust Banks, 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 35,785 100,000 129,071 11,230 10,000 15,000 22,175 111,564 33,788 18,950 41,760 2,405 66,180 12,000 9,167 10,000 14,102 0 0 0 0 0 0 0 0 0 0 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 SVB Financial Group, Inc. Sysco Corporation T J X Cos., Inc. Targa Resources Partners LP Target Corporation Teekay Tankers Ltd. Tellabs, Inc. Teva Pharmaceutical Tortoise MLP Fund, Inc. Toyota Motor CP ADR Transocean, Inc. Ultra Petroleum Corp. UltraShort Lehman 20+YR Proshares Unifirst Corporation - Mass Union Pacific Corp. United States Steel Corp. United Technologies Corp. common common common common common common common common common common common common common common common common common 78486Q101 871829107 872540109 87611X105 87612E106 Y8565N102 879664100 881624209 89148B101 892331307 H8817H100 903914109 74347R297 904708104 907818108 912909108 913017109 $241,953 $7,674,839 $2,262,218 $3,037,968 $400,680 $334,720 $128,773 $6,816,748 $239,330 $2,952,879 $2,940,742 $539,288 $374,400 $753,802 $1,146,036 $484,381 $9,240,140 4,250 277,070 45,490 87,600 8,012 32,000 24,575 135,873 9,100 36,796 37,726 10,950 10,000 14,220 11,655 8,980 109,157 4,250 277,070 45,490 87,600 8,012 32,000 24,575 135,873 9,100 36,796 37,726 10,950 10,000 14,220 11,655 8,980 109,157
SVB Financial Group, Inc. Sysco Corporation T J X Cos., Inc. Targa Resources Partners LP Target Corporation Teekay Tankers Ltd. Tellabs, Inc. Teva Pharmaceutical Tortoise MLP Fund, Inc. Toyota Motor CP ADR Transocean, Inc. Ultra Petroleum Corp. UltraShort Lehman 20+YR Proshares Unifirst Corporation - Mass Union Pacific Corp. United States Steel Corp. United Technologies 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 4,250 277,070 45,490 87,600 8,012 32,000 24,575 135,873 9,100 36,796 37,726 10,950 10,000 14,220 11,655 8,980 109,157 0 0 0 0 0 0 0 0 0 0 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 Vale SA ADR Vanguard S&P 500 ETF Vanguard Bond Index Vanguard Emerging Markets Vipers Vanguard Growth ETF Vanguard Large Cap Vanguard Mega Cap 300 Growth Vanguard Mid-Cap ETF Vanguard Small Cap Verizon Communications VF Corporation Visa, Inc. VMWare, Inc. Walgreen Company Wal-Mart Stores, Inc. Wells Fargo & Co. Western Gas Partners common common common common common common common common common common common common common common common common common 91912E105 922908413 921937819 922042858 922908736 922908637 921910816 922908629 922908751 92343V104 918204108 92826C839 928563402 931422109 931142103 949746101 958254104 $5,614,306 $3,401,328 $1,232,815 $5,238,985 $347,220 $487,375 $279,153 $882,425 $936,472 $590,587 $1,634,908 $1,367,492 $663,328 $5,822,989 $8,028,608 $2,692,464 $523,950 168,345 56,109 15,038 107,027 5,400 8,020 5,675 10,955 11,856 15,324 16,593 18,575 8,135 145,067 154,248 84,909 15,000 168,345 56,109 15,038 107,027 5,400 8,020 5,675 10,955 11,856 15,324 16,593 18,575 8,135 145,067 154,248 84,909 15,000
Vale SA ADR Vanguard S&P 500 ETF Vanguard Bond Index Vanguard Emerging Markets Vipers Vanguard Growth ETF Vanguard Large Cap Vanguard Mega Cap 300 Growth Vanguard Mid-Cap ETF Vanguard Small Cap Verizon Communications VF Corporation Visa, Inc. VMWare, Inc. Walgreen Company Wal-Mart Stores, Inc. Wells Fargo & Co. Western Gas Partners 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 168,345 56,109 15,038 107,027 5,400 8,020 5,675 10,955 11,856 15,324 16,593 18,575 8,135 145,067 154,248 84,909 15,000 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
19 Whiting Petroleum Corp. Williams Partners LP Wisdomtree TR Emrgng SCAP Fund Yum Brands, Inc. Zimmer Holdings, Inc. Zions Bancorporation common common common common common common 966387102 96950F104 97717W281 988498101 98956P102 989701107 $474,487 $792,540 $460,752 $467,558 $1,274,399 $496,482 6,460 15,300 8,615 9,100 21,054 21,530 6,460 15,300 8,615 9,100 21,054 21,530 Grand Total 03/31/11 $568,975,298
Whiting Petroleum Corp. Williams Partners LP Wisdomtree TR Emrgng SCAP Fund Yum Brands, Inc. Zimmer Holdings, Inc. Zions Bancorporation 0 0 0 0 0 0 0 0 0 0 0 0 6,460 15,300 8,615 9,100 21,054 21,530 0 0 0 0 0 0 0 0 0 0 0 0