-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EUyIFhzux49PoI+HoYVsdt0hqiItoqlhocXbuUN7iDzgxb3+a+fsFeDcHM888n08 Zi9IYZvJN9W+Jkv5DwfK/A== 0000909012-07-000474.txt : 20070227 0000909012-07-000474.hdr.sgml : 20070227 20070227152527 ACCESSION NUMBER: 0000909012-07-000474 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061231 FILED AS OF DATE: 20070227 DATE AS OF CHANGE: 20070227 EFFECTIVENESS DATE: 20070227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Laffer Investments CENTRAL INDEX KEY: 0001307878 IRS NUMBER: 200536838 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10975 FILM NUMBER: 07653119 BUSINESS ADDRESS: STREET 1: 2908 POSTON AVENUE STREET 2: SUITE 101 CITY: NASHVILLE STATE: TN ZIP: 37203 BUSINESS PHONE: 6153203989 MAIL ADDRESS: STREET 1: 2908 POSTON AVENUE STREET 2: SUITE 101 CITY: NASHVILLE STATE: TN ZIP: 37203 13F-HR 1 t303250.txt LAFFER 12/31/06 13F-HR FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington DC 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: [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Laffer Investments, Inc. Address: 2909 Poston Avenue 2nd Floor Nashville, TN 37203 Form 13F File Number: 28- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it that all information contained herein is true, correct and complete and that it is understood that all required items, statements schedules, lists and tables are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Arthur B. Laffer, Jr. Title: Chief Executive Officer Phone: 615-320-3989 Signature City State and Date of Signing: Arthur B. Laffer Nashville TN 02/26/2007 - ----------------------- ----------------------- --------------- Signature City State Date Report Type: [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT -25- FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: Form 13F Information Table Value Total: $435230764.58 List of Other Included Managers: NONE -26-
13F Holdings Report As of Date: 12/31/06 ISSUER TITLE OF CUSIP MKT SHARES/ INVESTMENT DISCRETION OTHER VOTING AUTHORITY NAME CLASS NUMBER VAL PRINC AMT SOLE(A) SHARED MNGRS SOLE SHARED NONE A D C TELECOMMUNICATIONS Common Stock 000886309 82,821.00 5,700 5,700 - ALL 5,700 0 0 AFLAC INC Common Stock 001055102 2,838,200.00 61,700 61,700 - ALL 61,700 0 0 ABBOTT LABS Common Stock 002824100 633,230.00 13,000 13,000 - ALL 13,000 0 0 ACTEL CORP Common Stock 004934105 49,032.00 2,700 2,700 - ALL 2,700 0 0 ADOBE SYS INC Common Stock 00724F101 3,129,232.00 76,100 76,100 - ALL 76,100 0 0 AFFILIATED COMPUTER Common Stock 008190100 48,840.00 1,000 1,000 - ALL 1,000 0 0 AGILENT TECHNOLOGIES Common Stock 00846U101 651,695.00 18,700 18,700 - ALL 18,700 0 0 ALABAMA PWR CO Preferred Stock 010392561 38,393.50 1,550 1,550 - ALL 1,550 0 0 ALCATEL-LUCENT American Deposi 013904305 576,178.90 40,519 40,519 - ALL 40,519 0 0 ALLERGAN INC Common Stock 018490102 167,636.00 1,400 1,400 - ALL 1,400 0 0 ALTERA CORP Common Stock 021441100 320,784.00 16,300 16,300 - ALL 16,300 0 0 ALTRIA GROUP INC Common Stock 02209S103 1,536,178.00 17,900 17,900 - ALL 17,900 0 0 AMAZON COM INC Common Stock 023135106 698,442.00 17,700 17,700 - ALL 17,700 0 0 AMEREN CORP Common Stock 023608102 1,348,623.00 25,100 25,100 - ALL 25,100 0 0 AMERICAN EXPRESS CO Common Stock 025816109 13,219,993.00 217,900 217,900 - ALL 217,900 0 0 AMERICAN PWR CONVERS Common Stock 029066107 45,885.00 1,500 1,500 - ALL 1,500 0 0 AMERIPRISE FINL INC Common Stock 03076C106 119,900.00 2,200 2,200 - ALL 2,200 0 0 ANALOG DEVICES INC Common Stock 032654105 539,068.00 16,400 16,400 - ALL 16,400 0 0 ANDREW CORP Common Stock 034425108 49,104.00 4,800 4,800 - ALL 4,800 0 0 ANHEUSER BUSCH COS Common Stock 035229103 1,766,280.00 35,900 35,900 - ALL 35,900 0 0 APPLIED MATERIALS IN Common Stock 038222105 1,175,265.00 63,700 63,700 - ALL 63,700 0 0 ARCHER DANIELS MIDLA Common Stock 039483102 178,976.00 5,600 5,600 - ALL 5,600 0 0 AUDIOVOX CORP Common Stock 050757103 50,724.00 3,600 3,600 - ALL 3,600 0 0 AUTODESK INC Common Stock 052769106 1,225,938.00 30,300 30,300 - ALL 30,300 0 0 AUTOMATIC DATA PROCE Common Stock 053015103 231,475.00 4,700 4,700 - ALL 4,700 0 0 AUTONATION INC Common Stock 05329W102 27,716.00 1,300 1,300 - ALL 1,300 0 0 AUTOZONE INC Common Stock 053332102 57,780.00 500 500 - ALL 500 0 0 AVAYA INC Common Stock 053499109 299,172.00 21,400 21,400 - ALL 21,400 0 0 AVERY DENNISON CORP Common Stock 053611109 54,344.00 800 800 - ALL 800 0 0 BB&T CORP Common Stock 054937107 2,908,166.00 66,200 66,200 - ALL 66,200 0 0 BMC SOFTWARE INC Common Stock 055921100 360,640.00 11,200 11,200 - ALL 11,200 0 0 BANK AMER CORP Common Stock 060505104 10,426,105.98 195,282 195,282 - ALL 195,282 0 0 BANK OF AMERICA CORP Preferred Stock 060505831 38,850.00 1,500 1,500 - ALL 1,500 0 0 BANK NEW YORK INC Common Stock 064057102 1,621,650.30 41,190 41,190 - ALL 41,190 0 0 BARD C R INC Common Stock 067383109 74,673.00 900 900 - ALL 900 0 0 BARR LABS INC Common Stock 068306109 45,108.00 900 900 - ALL 900 0 0 BAUSCH & LOMB INC Common Stock 071707103 26,030.00 500 500 - ALL 500 0 0 BAXTER INTL INC Common Stock 071813109 259,784.00 5,600 5,600 - ALL 5,600 0 0 BEAR STEARNS COS INC Common Stock 073902108 2,604,480.00 16,000 16,000 - ALL 16,000 0 0 BEAR STEARNS COS PFD Unit 073902868 39,600.00 825 825 - ALL 825 0 0 BECTON DICKINSON Common Stock 075887109 147,315.00 2,100 2,100 - ALL 2,100 0 0 BIG LOTS INC Common Stock 089302103 20,628.00 900 900 - ALL 900 0 0 BIOMET INC Common Stock 090613100 1,324,767.00 32,100 32,100 - ALL 32,100 0 0 BLACK BOX CORP DEL Common Stock 091826107 46,189.00 1,100 1,100 - ALL 1,100 0 0 BOSTON SCIENTIFIC CO Common Stock 101137107 173,518.00 10,100 10,100 - ALL 10,100 0 0 BRISTOL MYERS SQUIBB Common Stock 110122108 439,544.00 16,700 16,700 - ALL 16,700 0 0 BROADCOM CORP Common Stock 111320107 684,972.00 21,200 21,200 - ALL 21,200 0 0 BRUNSWICK CORP Common Stock 117043109 354,090.00 11,100 11,100 - ALL 11,100 0 0 CBS CORP NEW Common Stock 124857202 1,062,075.00 35,700 35,700 - ALL 35,700 0 0 C COR ELECTRS INC Common Stock 125010108 49,016.00 4,400 4,400 - ALL 4,400 0 0 CIT GROUP INC Common Stock 125581108 89,232.00 1,600 1,600 - ALL 1,600 0 0 CIT GROUP INC Preferred Stock 125581207 39,105.00 1,500 1,500 - ALL 1,500 0 0 CVS CORP Common Stock 126650100 3,353,735.00 108,500 108,500 - ALL 108,500 0 0 CA INC Common Stock 12673P105 516,420.00 22,800 22,800 - ALL 22,800 0 0 CAMPBELL SOUP CO Common Stock 134429109 77,780.00 2,000 2,000 - ALL 2,000 0 0 CAPITAL ONE FINL COR Common Stock 14040H105 4,225,100.00 55,000 55,000 - ALL 55,000 0 0 CHICAGO MERCANTILE H Common Stock 167760107 101,950.00 200 200 - ALL 200 0 0 CIENA CORP Common Stock 171779309 157,947.00 5,700 5,700 - ALL 5,700 0 0 CISCO SYS INC Common Stock 17275R102 6,712,248.00 245,600 245,600 - ALL 245,600 0 0 CINTAS CORP Common Stock 172908105 47,652.00 1,200 1,200 - ALL 1,200 0 0 CITIGROUP INC Common Stock 172967101 8,689,200.00 156,000 156,000 - ALL 156,000 0 0 CITIGROUP INC Preferred Stock 172967309 39,060.00 775 775 - ALL 775 0 0 CITRIX SYS INC Common Stock 177376100 270,500.00 10,000 10,000 - ALL 10,000 0 0 CLEAR CHANNEL COMMUN Common Stock 184502102 810,312.00 22,800 22,800 - ALL 22,800 0 0 CLOROX CO Common Stock 189054109 1,257,340.00 19,600 19,600 - ALL 19,600 0 0 COCA COLA CO Common Stock 191216100 14,880,300.00 308,400 308,400 - ALL 308,400 0 0 COCA COLA ENTERPRISE Common Stock 191219104 745,330.00 36,500 36,500 - ALL 36,500 0 0 COLGATE PALMOLIVE CO Common Stock 194162103 280,532.00 4,300 4,300 - ALL 4,300 0 0 COMERICA INC Common Stock 200340107 445,968.00 7,600 7,600 - ALL 7,600 0 0 COMPASS BANCSHARES I Common Stock 20449H109 960,365.00 16,100 16,100 - ALL 16,100 0 0 COMPUTER SCIENCES CO Common Stock 205363104 74,718.00 1,400 1,400 - ALL 1,400 0 0 COMPUWARE CORP Common Stock 205638109 169,932.00 20,400 20,400 - ALL 20,400 0 0 COMVERSE TECHNOLOGY Common Stock 205862402 200,545.00 9,500 9,500 - ALL 9,500 0 0 CONAGRA FOODS INC Common Stock 205887102 1,817,100.00 67,300 67,300 - ALL 67,300 0 0 CONSTELLATION ENERGY Common Stock 210371100 1,508,253.00 21,900 21,900 - ALL 21,900 0 0 CONVERGYS CORP Common Stock 212485106 177,684.16 7,472 7,472 - ALL 7,472 0 0 CORNING INC Common Stock 219350105 1,087,051.00 58,100 58,100 - ALL 58,100 0 0 COUNTRYWIDE FIN CORP Common Stock 222372104 220,740.00 5,200 5,200 - ALL 5,200 0 0 DTE ENERGY CO Common Stock 233331107 1,442,618.00 29,800 29,800 - ALL 29,800 0 0 DARDEN RESTAURANTS I Common Stock 237194105 52,221.00 1,300 1,300 - ALL 1,300 0 0 DEAN FOODS CO NEW Common Stock 242370104 50,736.00 1,200 1,200 - ALL 1,200 0 0 DILLARDS INC Common Stock 254067101 17,485.00 500 500 - ALL 500 0 0 DITECH NETWORKS INC Common Stock 25500T108 49,824.00 7,200 7,200 - ALL 7,200 0 0 DOLLAR GEN CORP Common Stock 256669102 658,460.00 41,000 41,000 - ALL 41,000 0 0 DOMINION RES INC VA Common Stock 25746U109 3,680,576.00 43,900 43,900 - ALL 43,900 0 0 DONNELLEY R R & SONS Common Stock 257867101 60,418.00 1,700 1,700 - ALL 1,700 0 0 DOW CHEM CO Common Stock 260543103 4,740,878.00 118,700 118,700 - ALL 118,700 0 0 DOW JONES & CO INC Common Stock 260561105 19,000.00 500 500 - ALL 500 0 0 DU PONT E I DE N PFD Preferred Stock 263534307 21,225.00 250 250 - ALL 250 0 0 DYNEGY INC NEW Common Stock 26816Q101 128,148.00 17,700 17,700 - ALL 17,700 0 0 E-TRADE FINL GRP Common Stock 269246104 473,062.00 21,100 21,100 - ALL 21,100 0 0 EATON CORP Common Stock 278058102 1,367,548.00 18,200 18,200 - ALL 18,200 0 0 EBAY INC Common Stock 278642103 1,945,529.00 64,700 64,700 - ALL 64,700 0 0 ELECTRONIC ARTS Common Stock 285512109 130,936.00 2,600 2,600 - ALL 2,600 0 0 ELECTRONIC DATA SYS Common Stock 285661104 774,155.00 28,100 28,100 - ALL 28,100 0 0 EMERSON ELEC CO Common Stock 291011104 308,630.00 7,000 7,000 - ALL 7,000 0 0 ENTERGY CORP NEW Common Stock 29364G103 2,354,160.00 25,500 25,500 - ALL 25,500 0 0 ENTERGY CORP NEW Convertible Pre 29364G202 1,131,012.20 19,015 19,015 - ALL 19,015 0 0 EQUIFAX INC Common Stock 294429105 40,600.00 1,000 1,000 - ALL 1,000 0 0 EQUITY OFFICE PROPER Convertible Pre 294741509 772,307.12 11,479 11,479 - ALL 11,479 0 0 EXXON MOBIL CORP Common Stock 30231G102 15,326.00 200 200 - ALL 200 0 0 FAMILY DLR STORES IN Common Stock 307000109 806,575.00 27,500 27,500 - ALL 27,500 0 0 FREDDIE MAC Common Stock 313400301 8,392,440.00 123,600 123,600 - ALL 123,600 0 0 FANNIE MAE Common Stock 313586109 3,201,121.00 53,900 53,900 - ALL 53,900 0 0 FEDERAL NATL MTG ASS Preferred Stock 313586810 199,529.25 2 2 - ALL 2 0 0 FEDERATED DEPT STORE Common Stock 31410H101 175,398.00 4,600 4,600 - ALL 4,600 0 0 FEDERATED INVS INC P Common Stock 314211103 27,024.00 800 800 - ALL 800 0 0 FEDEX CORP Common Stock 31428X106 4,138,422.00 38,100 38,100 - ALL 38,100 0 0 FIFTH THIRD BANCORP Common Stock 316773100 1,125,575.00 27,500 27,500 - ALL 27,500 0 0 FIRST DATA CORP Common Stock 319963104 165,880.00 6,500 6,500 - ALL 6,500 0 0 FIRST HORIZON NATL C Common Stock 320517105 894,092.00 21,400 21,400 - ALL 21,400 0 0 FISERV INC Common Stock 337738108 78,630.00 1,500 1,500 - ALL 1,500 0 0 FORD MTR CO DEL Common Stock 345370860 646,611.00 86,100 86,100 - ALL 86,100 0 0 FOREST LABS INC Common Stock 345838106 136,620.00 2,700 2,700 - ALL 2,700 0 0 FRANKLIN RES INC Common Stock 354613101 154,238.00 1,400 1,400 - ALL 1,400 0 0 GANNETT INC Common Stock 364730101 126,966.00 2,100 2,100 - ALL 2,100 0 0 GAP INC Common Stock 364760108 89,700.00 4,600 4,600 - ALL 4,600 0 0 GENERAL ELEC CO Common Stock 369604103 11,163.00 300 300 - ALL 300 0 0 GENERAL MLS INC Common Stock 370334104 172,800.00 3,000 3,000 - ALL 3,000 0 0 GENERAL MTRS CORP Common Stock 370442105 792,576.00 25,800 25,800 - ALL 25,800 0 0 GENUINE PARTS CO Common Stock 372460105 1,389,699.00 29,300 29,300 - ALL 29,300 0 0 GENWORTH FINL INC Convertible Pre 37247D304 973,221.80 26,540 26,540 - ALL 26,540 0 0 GOLDMAN SACHS GROUP Common Stock 38141G104 14,532,615.00 72,900 72,900 - ALL 72,900 0 0 GOLDMAN SACHS GROUP Preferred Stock 38144X500 39,180.00 1,500 1,500 - ALL 1,500 0 0 GOOGLE INC Common Stock 38259P508 5,250,392.96 11,402 11,402 - ALL 11,402 0 0 GRAINGER W W INC Common Stock 384802104 41,964.00 600 600 - ALL 600 0 0 GREAT PLAINS ENERGY Convertible Pre 391164605 844,991.50 33,665 33,665 - ALL 33,665 0 0 HRPT PROPERTIES Convertible Pre 40426W507 909,514.36 34,430 34,430 - ALL 34,430 0 0 HSBC USA INC NEW Preferred Stock 40428H862 37,240.00 1,400 1,400 - ALL 1,400 0 0 HANESBRANDS INC Common Stock 410345102 16,522.19 700 700 - ALL 700 0 0 HARMAN INTL INDS INC Common Stock 413086109 1,178,938.00 11,800 11,800 - ALL 11,800 0 0 HARMONIC LIGHTWAVES Common Stock 413160102 47,982.00 6,600 6,600 - ALL 6,600 0 0 HEINZ H J CO Common Stock 423074103 126,028.00 2,800 2,800 - ALL 2,800 0 0 HERSHEY FOODS CORP Common Stock 427866108 1,140,420.00 22,900 22,900 - ALL 22,900 0 0 HILTON HOTELS CORP Common Stock 432848109 1,650,770.00 47,300 47,300 - ALL 47,300 0 0 HOME DEPOT INC Common Stock 437076102 3,859,376.00 96,100 96,100 - ALL 96,100 0 0 HOSPIRA INC Common Stock 441060100 43,654.00 1,300 1,300 - ALL 1,300 0 0 HUNTINGTON BANCSHARE Common Stock 446150104 688,750.00 29,000 29,000 - ALL 29,000 0 0 IAC INTERACTIVECORP Common Stock 44919P300 48,308.00 1,300 1,300 - ALL 1,300 0 0 ITT INDS INC IND Common Stock 450911102 1,306,860.00 23,000 23,000 - ALL 23,000 0 0 ILLINOIS TOOL WKS IN Common Stock 452308109 2,388,023.00 51,700 51,700 - ALL 51,700 0 0 INTEL CORP Common Stock 458140100 5,343,975.00 263,900 263,900 - ALL 263,900 0 0 INTER TEL INC Common Stock 458372109 48,752.00 2,200 2,200 - ALL 2,200 0 0 INTL BUSINESS MCHN Common Stock 459200101 6,246,745.00 64,300 64,300 - ALL 64,300 0 0 INTERNATIONAL PAPER Common Stock 460146103 712,690.00 20,900 20,900 - ALL 20,900 0 0 INTERPUBLIC GROUP CO Common Stock 460690100 247,248.00 20,200 20,200 - ALL 20,200 0 0 INTUIT Common Stock 461202103 576,639.00 18,900 18,900 - ALL 18,900 0 0 IS MSCI AUSTRIA Investment Fund 464286202 3,388,284.00 91,600 91,600 - ALL 91,600 0 0 IS MSCI CANADA Investment Fund 464286509 2,934,588.00 115,900 115,900 - ALL 115,900 0 0 IS MSCI SINGAPORE Investment Fund 464286673 3,725,120.00 332,600 332,600 - ALL 332,600 0 0 IS MSCI SPAIN Investment Fund 464286764 32,160.00 600 600 - ALL 600 0 0 IS MSCI SKOREA Investment Fund 464286772 1,995,760.00 40,400 40,400 - ALL 40,400 0 0 IS MSCI SAFRICA Investment Fund 464286780 2,208,384.00 19,200 19,200 - ALL 19,200 0 0 IS MSCI NETHERLND Investment Fund 464286814 3,320,322.00 126,200 126,200 - ALL 126,200 0 0 IS MSCI MEXICO Investment Fund 464286822 2,793,125.00 54,500 54,500 - ALL 54,500 0 0 IS MSCI HONG KONG Investment Fund 464286871 3,387,200.00 211,700 211,700 - ALL 211,700 0 0 ISHARES LEHMN TRES Investment Fund 464287176 628,368.00 6,360 6,360 - ALL 6,360 0 0 IS S&P500 Investment Fund 464287200 8,619,400.00 60,700 60,700 - ALL 60,700 0 0 IS GS INVESTOP Investment Fund 464287242 3,931,158.00 36,850 36,850 - ALL 36,850 0 0 IS LEHMAN 20 Investment Fund 464287432 205,599.75 2,325 2,325 - ALL 2,325 0 0 IS LEHMAN 7 Investment Fund 464287440 838,827.00 10,175 10,175 - ALL 10,175 0 0 IS LEHMAN 1 Investment Fund 464287457 1,156,221.60 14,460 14,460 - ALL 14,460 0 0 JDS UNIPHASE CORP Common Stock 46612J507 213,248.00 12,800 12,800 - ALL 12,800 0 0 J P MORGAN CHASE & C Common Stock 46625H100 7,510,650.00 155,500 155,500 - ALL 155,500 0 0 JABIL CIRCUIT INC Common Stock 466313103 245,500.00 10,000 10,000 - ALL 10,000 0 0 JANUS CAP GROUP INC Common Stock 47102X105 241,808.00 11,200 11,200 - ALL 11,200 0 0 JOHNSON & JOHNSON Common Stock 478160104 1,650,500.00 25,000 25,000 - ALL 25,000 0 0 JONES APPAREL GROUP Common Stock 480074103 163,807.00 4,900 4,900 - ALL 4,900 0 0 JUNIPER NETWORKS Common Stock 48203R104 501,910.00 26,500 26,500 - ALL 26,500 0 0 KLA-TENCOR CORP Common Stock 482480100 443,670.50 8,918 8,918 - ALL 8,918 0 0 KELLOGG CO Common Stock 487836108 1,666,998.00 33,300 33,300 - ALL 33,300 0 0 KIMBERLY CLARK CORP Common Stock 494368103 265,005.00 3,900 3,900 - ALL 3,900 0 0 KING PHARMACEUTICALS Common Stock 495582108 33,432.00 2,100 2,100 - ALL 2,100 0 0 KOHLS CORP Common Stock 500255104 1,131,695.34 16,538 16,538 - ALL 16,538 0 0 LSI LOGIC CORP Common Stock 502161102 163,800.00 18,200 18,200 - ALL 18,200 0 0 LABRANCHE & CO INC Common Stock 505447102 50,133.00 5,100 5,100 - ALL 5,100 0 0 LATTICE SEMICONDUCTO Common Stock 518415104 49,248.00 7,600 7,600 - ALL 7,600 0 0 LEGG MASON INC Common Stock 524901105 1,663,375.00 17,500 17,500 - ALL 17,500 0 0 LEHMAN BROS HLDGS IN Common Stock 524908100 5,538,708.00 70,900 70,900 - ALL 70,900 0 0 LEHMAN BROS HLDGS IN Convertible Pre 524908563 885,593.60 32,180 32,180 - ALL 32,180 0 0 LEXMARK INTL INC. Common Stock 529771107 336,720.00 4,600 4,600 - ALL 4,600 0 0 ELI LILLY & CO Common Stock 532457108 432,430.00 8,300 8,300 - ALL 8,300 0 0 LIMITED BRANDS INC Common Stock 532716107 83,926.00 2,900 2,900 - ALL 2,900 0 0 LINEAR TECHNOLOGY CO Common Stock 535678106 415,990.40 13,720 13,720 - ALL 13,720 0 0 MGIC INVT CORP WIS Common Stock 552848103 293,938.00 4,700 4,700 - ALL 4,700 0 0 MANHATTAN ASSOCS INC Common Stock 562750109 48,128.00 1,600 1,600 - ALL 1,600 0 0 MARSH & MCLENNAN COS Common Stock 571748102 757,302.00 24,700 24,700 - ALL 24,700 0 0 MARSHALL & ILSLEY CO Convertible Pre 571834209 941,360.40 34,520 34,520 - ALL 34,520 0 0 MAXIM INTEGRATED PRO Common Stock 57772K101 447,113.24 14,602 14,602 - ALL 14,602 0 0 MCCORMICK & CO INC Common Stock 579780206 659,376.00 17,100 17,100 - ALL 17,100 0 0 MCDONALDS CORP Common Stock 580135101 461,032.00 10,400 10,400 - ALL 10,400 0 0 MCGRAW HILL INC Common Stock 580645109 204,060.00 3,000 3,000 - ALL 3,000 0 0 MEDTRONIC INC Common Stock 585055106 524,398.00 9,800 9,800 - ALL 9,800 0 0 MELLON FINL CORP Common Stock 58551A108 931,515.00 22,100 22,100 - ALL 22,100 0 0 MERCK & CO INC Common Stock 589331107 802,240.00 18,400 18,400 - ALL 18,400 0 0 MEREDITH CORP Common Stock 589433101 16,905.00 300 300 - ALL 300 0 0 MERRILL LYNCH & CO Common Stock 590188108 4,468,800.00 48,000 48,000 - ALL 48,000 0 0 MERRILL LYNCH & CO INC MA Convertible Pre 59021S471 1,022,518.93 22,790 22,790 - ALL 22,790 0 0 MERRILL LYNCH & CO I Preferred Stock 59021V839 39,120.00 1,500 1,500 - ALL 1,500 0 0 METLIFE INC Preferred Stock 59156R603 39,465.00 1,500 1,500 - ALL 1,500 0 0 METLIFE INC COM EQ UT6.37 Convertible Pre 59156R702 969,691.80 31,710 31,710 - ALL 31,710 0 0 MICROSOFT CORP Common Stock 594918104 8,324,968.00 278,800 278,800 - ALL 278,800 0 0 MICRON TECHNOLOGY IN Common Stock 595112103 466,264.00 33,400 33,400 - ALL 33,400 0 0 MOLEX INC Common Stock 608554101 239,439.10 7,570 7,570 - ALL 7,570 0 0 MOODYS CORP Common Stock 615369105 145,026.00 2,100 2,100 - ALL 2,100 0 0 MORGAN STANLEY Common Stock 617446448 4,804,370.00 59,000 59,000 - ALL 59,000 0 0 MOTOROLA INC Common Stock 620076109 2,302,720.00 112,000 112,000 - ALL 112,000 0 0 MYLAN LABS INC Common Stock 628530107 33,932.00 1,700 1,700 - ALL 1,700 0 0 NATIONAL CITY CORP Common Stock 635405103 2,731,032.00 74,700 74,700 - ALL 74,700 0 0 NATIONAL SEMICONDUCT Common Stock 637640103 231,630.80 10,204 10,204 - ALL 10,204 0 0 NEW YORK TIMES CO Common Stock 650111107 191,615.76 7,866 7,866 - ALL 7,866 0 0 NEWELL FINL TR I Convertible Pre 651195307 821,376.62 17,265 17,265 - ALL 17,265 NIKE INC Common Stock 654106103 2,515,362.00 25,400 25,400 - ALL 25,400 NORDSTROM INC Common Stock 655664100 98,680.00 2,000 2,000 - ALL 2,000 NORFOLK SOUTHERN COR Common Stock 655844108 2,559,761.00 50,900 50,900 - ALL 50,900 NORTHERN TR CORP Common Stock 665859104 97,104.00 1,600 1,600 - ALL 1,600 NOVELL INC Common Stock 670006105 115,320.00 18,600 18,600 - ALL 18,600 NOVELLUS SYS INC Common Stock 670008101 188,896.96 5,488 5,488 - ALL 5,488 NVIDIA CORP Common Stock 67066G104 588,459.00 15,900 15,900 - ALL 15,900 OFFICE DEPOT INC Common Stock 676220106 91,608.00 2,400 2,400 - ALL 2,400 OFFICEMAX INC DEL Common Stock 67622P101 29,790.00 600 600 - ALL 600 ORACLE SYSTEMS CORP Common Stock 68389X105 3,755,374.00 219,100 219,100 - ALL 219,100 PC-TEL INC Common Stock 69325Q105 53,295.00 5,700 5,700 - ALL 5,700 PMC-SIERRA INC Common Stock 69344F106 65,087.00 9,700 9,700 - ALL 9,700 PUBLIC SERVICE NM Convertible Pre 69349H206 975,690.60 18,465 18,465 - ALL 18,465 PARAMETRIC TECHNOLOG Common Stock 699173209 107,759.60 5,980 5,980 - ALL 5,980 PARKER HANNIFIN CORP Common Stock 701094104 1,122,448.00 14,600 14,600 - ALL 14,600 PAYCHEX INC Common Stock 704326107 114,666.00 2,900 2,900 - ALL 2,900 JC PENNEY CO Common Stock 708160106 2,266,648.00 29,300 29,300 - ALL 29,300 PEPSI-COLA BOTTLING Common Stock 713409100 37,092.00 1,200 1,200 - ALL 1,200 PEPSICO INC Common Stock 713448108 875,700.00 14,000 14,000 - ALL 14,000 PERKINELMER INC Common Stock 714046109 113,417.46 5,102 5,102 - ALL 5,102 PFIZER INC Common Stock 717081103 1,603,210.00 61,900 61,900 - 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ALL 6,700 WATSON PHARMACEUTICA Common Stock 942683103 23,427.00 900 900 - ALL 900 WELLS FARGO & CO NEW Common Stock 949746101 8,516,620.00 239,500 239,500 - ALL 239,500 WENDYS INTL INC Common Stock 950590109 33,090.00 1,000 1,000 - ALL 1,000 WESTERN UN CO Common Stock 959802109 2,284,598.00 101,900 101,900 - ALL 101,900 WESTWOOD ONE INC Common Stock 961815107 50,126.00 7,100 7,100 - ALL 7,100 WRIGLEY WM JR CO Common Stock 982526105 1,484,364.00 28,700 28,700 - ALL 28,700 WYETH Common Stock 983024100 585,580.00 11,500 11,500 - ALL 11,500 XILINX INC Common Stock 983919101 366,674.00 15,400 15,400 - ALL 15,400 YAHOO INC Common Stock 984332106 268,170.00 10,500 10,500 - ALL 10,500 YUM BRANDS INC Common Stock 988498101 135,240.00 2,300 2,300 - ALL 2,300 ZIMMER HLDGS INC Common Stock 98956P102 164,598.00 2,100 2,100 - ALL 2,100 ZIONS BANCORP Common Stock 989701107 1,055,232.00 12,800 12,800 - ALL 12,800 COOPER INDS LTD Common Stock G24182100 72,344.00 800 800 - ALL 800 IPC HLDGS LTD Convertible Pre G4933P119 176,250.00 6,000 6,000 - ALL 6,000 XL CAP LTD Convertible Pre G98255402 735,720.05 31,135 31,135 - ALL 31,135
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