-----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, VH9CcciQm7yrCrgtDjboPrJPTDEEfan4lN5w74doQgy+aGahtcPpRFMKmydpbCFR JjrYvpV7ADuLj0QBaQjR3Q== 0001316617-07-000005.txt : 20070510 0001316617-07-000005.hdr.sgml : 20070510 20070510145304 ACCESSION NUMBER: 0001316617-07-000005 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070331 FILED AS OF DATE: 20070510 DATE AS OF CHANGE: 20070510 EFFECTIVENESS DATE: 20070510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Saturna Capital CORP CENTRAL INDEX KEY: 0001316617 IRS NUMBER: 911454817 STATE OF INCORPORATION: WA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11042 FILM NUMBER: 07837054 BUSINESS ADDRESS: STREET 1: 1300 N. STATE ST. CITY: BELLINGHAM STATE: WA ZIP: 98225 BUSINESS PHONE: 360-734-9900 MAIL ADDRESS: STREET 1: 1300 N. STATE ST. CITY: BELLINGHAM STATE: WA ZIP: 98225 13F-HR 1 form13f20070331.txt Q1 HOLDINGS REPORT- MARCH 31, 2007 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F Form 13F Cover Page Report for the Quarter Ended: March 31, 2007 Institutional Investment Manager Filing this Report: SATURNA CAPITAL CORPORATION 1300 N. STATE ST. BELLINGHAM, WA 98225 Form 13F File Number: 28-11042 The institutional investment manger 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: NICHOLAS KAISER PRESIDENT (360) 734-9900 /s/ Nicholas Kaiser Bellingham, WA May 9, 2007 Report Type: 13F HOLDINGS REPORT FORM 13F SUMMARY PAGE Report Summary Number of other included managers: 0 Form 13F information table entry total: 362 Form 13F information table value total: $628,953 List of other included managers: None Name of Issuer Title of Class CUSIP Value*1000 Amount Type Discretion Other Man Voting Auth 3Com Common Stock 885535104 118 30300 SH SOLE None 30300 3M Common Stock 88579Y101 2790 36500 SH SOLE None 36500 51job ADR ADR 316827104 130 8000 SH SOLE None 8000 Abbott Laboratories Common Stock 2824100 5018 89920 SH SOLE None 89920 Accenture LTD-CL A Common Stock G1150G111 131 3400 SH SOLE None 3400 Activision Common Stock 4930202 136 7198 SH SOLE None 7198 Adobe Systems Common Stock 00724F101 9198 220570 SH SOLE None 220570 Advanced Micro Devices Common Stock 7903107 4702 360000 SH SOLE None 360000 Aegon NV Common Stock 7924103 100 5000 SH SOLE None 5000 Agilent Technologies Common Stock 00846U101 5610 166522 SH SOLE None 166522 Air Products & Chemicals Common Stock 9158106 2956 40000 SH SOLE None 40000 Akamai Technologies Common Stock 00971T101 131 2625 SH SOLE None 2625 Alabama Power Series JJ Preferred Stock 10392520 26 1000 SH SOLE None 1000 Alcoa Common Stock 13817101 2066 60935 SH SOLE None 60935 Amazon.com Common Stock 23135106 215 5400 SH SOLE None 5400 America Movil ADS Series L ADR 02364W105 7379 154400 SH SOLE None 154400 American Eagle Outfitters Common Stock 2.55E+109 6898 230000 SH SOLE None 230000 American Oriental Bioengineering Common Stock 28731107 141 15000 SH SOLE None 15000 Amgen Common Stock 31162100 4892 87544 SH SOLE None 87544 Analog Devices Common Stock 32654105 17 500 SH SOLE None 500 Anglo-American plc ADR ADR 03485P102 8444 319600 SH SOLE None 319600 Aon Corp Common Stock 37389103 95 2496 SH SOLE None 2496 Apache Common Stock 37411105 33 462 SH SOLE None 462 Apartment Investment & Management Common Stock 03748R101 63 1100 SH SOLE None 1100 Apartment Investment & Management Preferred Stock 03748r408 70 2700 SH SOLE None 2700 "Apollo Group, 'A'" Common Stock 37604105 7 160 SH SOLE None 160 Apple Common Stock 37833100 16271 175130 SH SOLE None 175130 Applebee's International Common Stock 37899101 52 2100 SH SOLE None 2100 Applera Corp-Applied Biosystems Common Stock 38020103 24 800 SH SOLE None 800 Archstone - Smith Trust Common Stock 39583109 87 1602 SH SOLE None 1602 Arkema ADS ADR 41232109 4 82 SH SOLE None 82 ARM Holdings plc ADS ADR 42068106 24 3111 SH SOLE None 3111 Asia Pacific Fund Common Stock 44901106 16 757 SH SOLE None 757 AstraZeneca PLC ADS ADR 46353108 2575 48000 SH SOLE None 48000 AT&T Common Stock 00206R102 3090 78366 SH SOLE None 78366 Audiocodes Ltd Common Stock 1082965 54 8000 SH SOLE None 8000 Australia & New Zealand Banking ADS ADR 52528304 389 3237 SH SOLE None 3237 Autodesk Common Stock 52769106 41 1100 SH SOLE None 1100 Autoliv Common Stock 52800109 9 153 SH SOLE None 153 Avery Dennison Common Stock 53611109 1928 30000 SH SOLE None 30000 Avista Common Stock 05379B107 3674 151650 SH SOLE None 151650 AXA ADS ADR 54536107 222 5200 SH SOLE None 5200 Banco Bilbao Vizcaya Argentaria ADS ADR 05946K101 184 7500 SH SOLE None 7500 Bank of America Common Stock 60505104 38 744 SH SOLE None 744 Bank of New York Common Stock 64057102 130 3200 SH SOLE None 3200 Barr Pharmaceuticals Common Stock 68306109 5044 108814 SH SOLE None 108814 BASF AG ADS ADR 55262505 3002 26700 SH SOLE None 26700 BCE Common Stock 05534B760 1912 67619 SH SOLE None 67619 Bed Bath & Beyond Common Stock 75896100 6466 160969 SH SOLE None 160969 Best Buy Common Stock 86516101 6321 129732 SH SOLE None 129732 BHP Billiton Ltd ADS ADR 88606108 2985 61620 SH SOLE None 61620 Black & Decker Common Stock 91797100 1632 20000 SH SOLE None 20000 Boston Scientific Common Stock 101137107 8 530 SH SOLE None 530 BP plc ADS ADR 55622104 8696 134296 SH SOLE None 134296 Bristol-Myers Squibb Common Stock 110122108 346 12459 SH SOLE None 12459 Build-A-Bear-Workshop Common Stock 120076104 192 7000 SH SOLE None 7000 Building Materials Holding Common Stock 120113105 1702 94000 SH SOLE None 94000 Burlington Northern Santa Fe Common Stock 12189T104 2642 32850 SH SOLE None 32850 Business Objects SA ADS ADR 12328X107 6315 174500 SH SOLE None 174500 Cadbury Schweppes plc ADR ADR 127209302 128 2500 SH SOLE None 2500 Canadian National Railways Common Stock 136375102 3046 69000 SH SOLE None 69000 Canadian Pacific Railway Ltd Common Stock 13645T100 7736 137050 SH SOLE None 137050 Canon ADS ADR 138006309 7466 139080 SH SOLE None 139080 Capital One Financial Common Stock 14040H105 8 100 SH SOLE None 100 Caribou Coffee Common Stock 142042209 362 50000 SH SOLE None 50000 Carmax Common Stock 143130102 41 1680 SH SOLE None 1680 Cascade Financial Common Stock 147357107 130 7462 SH SOLE None 7462 Cascade Natural Gas Common Stock 147339105 4 163 SH SOLE None 163 Catalina Marketing Common Stock 148867104 40 1253 SH SOLE None 1253 Caterpillar Common Stock 149123101 40 600 SH SOLE None 600 Ceridian Common Stock 156779100 23 664 SH SOLE None 664 Charles River Laboratories Common Stock 159864107 69 1495 SH SOLE None 1495 ChevronTexaco Common Stock 166764100 256 3459 SH SOLE None 3459 Childrens Place Common Stock 168905107 22 400 SH SOLE None 400 China Mobile (Hong Kong) Ltd ADR ADR 16941M109 7508 167400 SH SOLE None 167400 Chubb Common Stock 171232101 258 5000 SH SOLE None 5000 Chunghwa Telecom ADR ADR 17133Q205 1992 100000 SH SOLE None 100000 Cisco Systems Common Stock 17275R102 6758 264723 SH SOLE None 264723 Citigroup Common Stock 172967101 51 999 SH SOLE None 999 Clorox Common Stock 189054109 6369 100000 SH SOLE None 100000 Coach Common Stock 189754104 7447 148800 SH SOLE None 148800 Coca-Cola Co Common Stock 191216100 43 895 SH SOLE None 895 Coca-Cola Femsa ADS ADR 191241108 250 6926 SH SOLE None 6926 Colgate-Palmolive Common Stock 194162103 2672 40000 SH SOLE None 40000 Comtech Communications Common Stock 205826209 39 1000 SH SOLE None 1000 ConocoPhillips Common Stock 20825C104 2475 36217 SH SOLE None 36217 Convergys Common Stock 212485106 5354 210700 SH SOLE None 210700 Copa Holdings SA Common Stock P31076105 257 5000 SH SOLE None 5000 Corning Common Stock 219350105 7 300 SH SOLE None 300 Corp Office Props Trust CLASS H Preferred Stock 22002T603 25 1000 SH SOLE None 1000 Costco Wholesale Common Stock 22160K105 22 400 SH SOLE None 400 Crane Common Stock 224399105 4850 120000 SH SOLE None 120000 Cree Research Common Stock 225447101 2288 139000 SH SOLE None 139000 CRH plc ADS ADR 12626K203 174 4000 SH SOLE None 4000 Danaher Common Stock 235851102 26 360 SH SOLE None 360 Dassault Systems SA ADR ADR 237545108 162 3000 SH SOLE None 3000 DENTSPLY International Common Stock 249030107 4956 151340 SH SOLE None 151340 "Developers Drivers Realty Corp," Preferred Stock 251591871 38 1500 SH SOLE None 1500 Devon Energy Common Stock 25179M103 208 3000 SH SOLE None 3000 Diebold Common Stock 253651103 38 800 SH SOLE None 800 Donnelley (RR) & Sons Common Stock 257867101 213 5825 SH SOLE None 5825 Dow Chemical Common Stock 260543103 46 1000 SH SOLE None 1000 Duke Energy Common Stock 26441C105 1773 87360.672 SH SOLE None 87360.672 Duke Realty Common Stock 264411505 2874 66107.222 SH SOLE None 66107.222 Dun & Bradstreet Common Stock 2.65E+104 100 1098 SH SOLE None 1098 duPont (EI) deNemours Common Stock 263534109 8 165 SH SOLE None 165 E. ON AG AGS ADR 268780103 2037 45100 SH SOLE None 45100 Earthlink Common Stock 270321102 52 7075 SH SOLE None 7075 Edison International Common Stock 281020107 49 1000 SH SOLE None 1000 Electronic Data Systems Common Stock 285661104 3 100 SH SOLE None 100 Embraer Aircraft ADR ADR 29081M102 438 9547 SH SOLE None 9547 EMCOR Group Common Stock 29084Q100 4954 84000 SH SOLE None 84000 Emulex Common Stock 292475209 18 1000 SH SOLE None 1000 Enbridge Energy Partners LP Common Stock 29250R106 668 11960 SH SOLE None 11960 EnCana Common Stock 292505104 11835 233758 SH SOLE None 233758 Enel SpA ADS ADR 29265W108 97 1809 SH SOLE None 1809 Enersis SA ADS ADR 29274F104 147 9000 SH SOLE None 9000 "Entergy Arknsas Inc, Prf 6.70%" Preferred Stock 29364D811 98 3900 SH SOLE None 3900 Entergy MISS 1st MTG Preferred Stock 29364N876 25 2000 SH SOLE None 2000 Epcos AG ADS ADR 29410P107 131 7500 SH SOLE None 7500 Expedia Inc. - Cl A Common Stock 30212P105 26 1122 SH SOLE None 1122 "Express Scripts, Cl A" Common Stock 302182100 32 402 SH SOLE None 402 Exxon Mobil Common Stock 30231G102 3091 40963 SH SOLE None 40963 Fair Issac & Co Common Stock 303250104 70 1806 SH SOLE None 1806 Fannie Mae Common Stock 313586109 65 1200 SH SOLE None 1200 Fastenal Common Stock 311900104 4824 137620 SH SOLE None 137620 Fiserv Common Stock 337738108 24 450 SH SOLE None 450 Flextronics International Common Stock 300999109 15 1350 SH SOLE None 1350 FLIR Systems Common Stock 302445101 161 4500 SH SOLE None 4500 Fording Canadian Coal Trust Common Stock 345425102 92 4159.61 SH SOLE None 4159.61 FPL Group Common Stock 302571104 4982 81440 SH SOLE None 81440 FPL Group Capital Trust I Preferred Stock 30257v207 78 3200 SH SOLE None 3200 Freddie Mac Common Stock 313400301 18 300 SH SOLE None 300 "Freeport-McMoran Copper Gold, Cl B" Common Stock 35671D857 2715 41025 SH SOLE None 41025 Frontier Financial Common Stock 35907K105 735 29458 SH SOLE None 29458 Furrs Restaurant Group Common Stock 361115603 0 2 SH SOLE None 2 Gabelli Dividend & Income Trust Common Stock 36242H104 22 1000 SH SOLE None 1000 Gartner Group Common Stock 366651107 1454 60700 SH SOLE None 60700 Genentech Common Stock 368710406 5358 65250 SH SOLE None 65250 General Electric Common Stock 369604103 879 20067 SH SOLE None 20067 General Mills Common Stock 370334104 2038 35000 SH SOLE None 35000 Gentex Common Stock 371901109 12 736 SH SOLE None 736 Genuine Parts Common Stock 372460105 8085 165000 SH SOLE None 165000 Genzyme Common Stock 372917104 3601 60000 SH SOLE None 60000 Georgia Power CO Cl A PFD 6.125% Preferred Stock 373334473 106 4000 SH SOLE None 4000 Georgia Pwr Cap Trust V Preferred Stock 37333R308 151 6000 SH SOLE None 6000 Getty Images Common Stock 374276103 11 236 SH SOLE None 236 GlaxoSmithKline plc ADR ADR 37733W105 1879 34000 SH SOLE None 34000 Global Payments Inc Common Stock 37940X102 25 728 SH SOLE None 728 Green Mountain Coffee Roasters Common Stock 393122106 19 300 SH SOLE None 300 Groupe Danone ADS ADR 399449107 3929 110000 SH SOLE None 110000 Hain Celestial Group Common Stock 405217100 75 2500 SH SOLE None 2500 Hansen Natural Common Stock 411310105 4769 125900 SH SOLE None 125900 Hanson plc ADS ADR 411349103 3043 37600 SH SOLE None 37600 Harman International Industries Common Stock 413086109 5198 54100 SH SOLE None 54100 Harris Common Stock 413875105 7772 152540 SH SOLE None 152540 Hewlett-Packard Common Stock 428236103 9030 224975 SH SOLE None 224975 Home Depot Common Stock 437076102 7 185 SH SOLE None 185 Honeywell International Common Stock 438516106 2497 54205 SH SOLE None 54205 Hospira Common Stock 441060100 239 5855 SH SOLE None 5855 Hospitality Properties Trust Common Stock 44106M102 44 950 SH SOLE None 950 Hudson Highland Group Common Stock 443792106 6 400 SH SOLE None 400 Humana Common Stock 444859102 6980 120307 SH SOLE None 120307 IAC/InterActiveCorp Common Stock 44919P300 42 1122 SH SOLE None 1122 IDACORP Common Stock 451107106 3695 109250 SH SOLE None 109250 IMS Health Common Stock 449934108 5546 186990 SH SOLE None 186990 Infineon Technologies AG ADR ADR 45662N103 78 5000 SH SOLE None 5000 ING Groep NV ADS ADR 456837103 220 5200 SH SOLE None 5200 Integrated Device Technology Common Stock 458118106 62 4030 SH SOLE None 4030 Intel Common Stock 458140100 2949 154170 SH SOLE None 154170 International Business Machines Common Stock 459200101 7428 78805 SH SOLE None 78805 Intuit Common Stock 461202103 5706 209224 SH SOLE None 209224 Investors Financial Services Common Stock 461915100 24 417 SH SOLE None 417 Iron Mountain Common Stock 462846106 24 907 SH SOLE None 907 ishares Russell 2000 Common Stock 464287655 38 476 SH SOLE None 476 James Hardie Inds NV ADS ADR 47030M106 101 3000 SH SOLE None 3000 Johnson & Johnson Common Stock 478160104 6525 108282 SH SOLE None 108282 JP Morgan Chase & Co Common Stock 46625H100 110 2264 SH SOLE None 2264 KB Home Common Stock 48666K109 213 5000 SH SOLE None 5000 Kellogg Common Stock 487836108 2193 42650 SH SOLE None 42650 KeyCorp Common Stock 493267108 104 2772 SH SOLE None 2772 Kimberly-Clark Common Stock 494368103 2817 41135 SH SOLE None 41135 Kinder Morgan Energy Partners Common Stock 494550106 111 2100 SH SOLE None 2100 Kindred Healthcare Common Stock 494580103 5 140 SH SOLE None 140 Knight Transportation Common Stock 499064103 22 1237 SH SOLE None 1237 Kohl's Common Stock 500255104 38 500 SH SOLE None 500 Korea Electric Power ADS ADR 500631106 140 7000 SH SOLE None 7000 LaCrosse Footwear Common Stock 505688101 78 5000 SH SOLE None 5000 LAN Airlines SA ADS ADR 501723100 4747 68900 SH SOLE None 68900 Lifepoint Hospitals Inc Common Stock 53219L109 22 581 SH SOLE None 581 Ligand Pharmaceuticals Common Stock 53220K207 101 10000 SH SOLE None 10000 Lilly (Eli) Common Stock 532457108 4297 80000 SH SOLE None 80000 Lincoln Electric Holdings Common Stock 533900106 5986 100500 SH SOLE None 100500 Louisiana-Pacific Common Stock 546347105 903 45000 SH SOLE None 45000 Lowe's Companies Common Stock 548661107 5764 183028 SH SOLE None 183028 Manitowoc Common Stock 563571108 10502 165300 SH SOLE None 165300 MapInfo Common Stock 565105103 161 8000 SH SOLE None 8000 Matria Healthcare Common Stock 576817209 55 2100 SH SOLE None 2100 Maxim Integrated Products Common Stock 57772K101 16 555 SH SOLE None 555 McGraw-Hill Common Stock 580645109 7530 119756 SH SOLE None 119756 Medco Health Solutions Common Stock 58405U102 86 1185 SH SOLE None 1185 Merck & Co Common Stock 589331107 315 7121 SH SOLE None 7121 Merix Common Stock 590049102 17 2020 SH SOLE None 2020 Merrill Lynch Common Stock 590188108 36 440 SH SOLE None 440 Metso ADS ADR 592671101 375 7100 SH SOLE None 7100 Microchip Technology Common Stock 595017104 1624 45700 SH SOLE None 45700 Microsoft Common Stock 594918104 161 5780 SH SOLE None 5780 Mitsubishi OFJ Financial Group ADR ADR 606822104 113 10000 SH SOLE None 10000 Moody's Common Stock 615369105 273 4392 SH SOLE None 4392 Morningstar Common Stock 617700109 52 1000 SH SOLE None 1000 Motorola Common Stock 620076109 2341 132486 SH SOLE None 132486 MS Structured Asset Preferred Stock 86360Y207 23 900 SH SOLE None 900 National City Common Stock 635405103 100 2688 SH SOLE None 2688 National Fuel Gas Common Stock 636180101 2379 55000 SH SOLE None 55000 National Rural Utitlity Preferred Stock 637432709 25 1000 SH SOLE None 1000 Neenah Paper Common Stock 640079109 1 18 SH SOLE None 18 Nestle's S.A. Common Stock 641069406 24 250 SH SOLE None 250 "New York Times, Cl A" Common Stock 650111107 3 144 SH SOLE None 144 Nidec ADR ADR 654090109 80 5000 SH SOLE None 5000 "Nike, Cl B" Common Stock 654106103 2768 52100 SH SOLE None 52100 NiSource Common Stock 65473P105 1002 41000 SH SOLE None 41000 Nissan Motor ADS ADR 654744408 193 9000 SH SOLE None 9000 Noble Common Stock G65422100 6255 79500 SH SOLE None 79500 Nomura Holdings ADR ADR 65535h208 207 10000 SH SOLE None 10000 Nordstrom Common Stock 655664100 275 5200 SH SOLE None 5200 Norfolk Southern Common Stock 655844108 6831 135000 SH SOLE None 135000 Norsk Hydro ADS ADR 656531605 197 6000 SH SOLE None 6000 Novartis AG ADR ADR 66987V109 7133 130575 SH SOLE None 130575 Novo-Nordisk A/S ADS ADR 670100205 5613 62000 SH SOLE None 62000 Nucor Common Stock 670346105 2866 44000 SH SOLE None 44000 Oakley Common Stock 673662102 2485 123400 SH SOLE None 123400 Office Depot Common Stock 676220106 88 2500 SH SOLE None 2500 Old Dominion Freight Line Common Stock 679580100 6 200 SH SOLE None 200 Omincom Group Common Stock 681919106 5 50 SH SOLE None 50 Oracle Common Stock 68389X105 627 34587 SH SOLE None 34587 "Orient-Express Hotels, Cl A" Common Stock 683699102 209 3500 SH SOLE None 3500 Oshkosh Truck Common Stock 688239201 159 3000 SH SOLE None 3000 Pacific Financial Common Stock 694275108 54 3186 SH SOLE None 3186 Parker-Hannifin Common Stock 701094104 2598 30100 SH SOLE None 30100 Patterson - UTI Energy Common Stock 703481101 180 8000 SH SOLE None 8000 Patterson Companies Common Stock 703395103 12 350 SH SOLE None 350 PDF Solutions Common Stock 693282105 12 1100 SH SOLE None 1100 Pearson plc ADS ADR 705015105 2712 158390 SH SOLE None 158390 PepsiCo Common Stock 713448108 7856 123607 SH SOLE None 123607 Performance Food Group Common Stock 713755106 164 5320 SH SOLE None 5320 Petro-Canada Common Stock 7.16E+106 78 2000 SH SOLE None 2000 PETsMART Common Stock 716768106 6907 209560 SH SOLE None 209560 Pfizer Common Stock 717081103 2539 100519 SH SOLE None 100519 Pharmaceutical Product Development Common Stock 717124101 5060 150200 SH SOLE None 150200 Piedmont Natural Gas Common Stock 720186105 1583 60000 SH SOLE None 60000 PIMCO Commercial Mortgage Secs Common Stock 693388100 12 1000 SH SOLE None 1000 Pitney Bowes Common Stock 724479100 16 350 SH SOLE None 350 Plum Creek Timber Common Stock 729251108 2464 62507 SH SOLE None 62507 Polycom Common Stock 73172K104 54 1630 SH SOLE None 1630 Potash Corp of Saskatchewan Common Stock 73755L107 7549 47200 SH SOLE None 47200 Praxair Common Stock 74005P104 2518 40000 SH SOLE None 40000 Precision Drilling Common Stock 74022D100 68 2970 SH SOLE None 2970 Procter & Gamble Common Stock 742718109 3025 47891 SH SOLE None 47891 PT Indosat ADR ADR 715680104 85 2500 SH SOLE None 2500 Public Storage International Common Stock 74460D109 218 2303.278 SH SOLE None 2303.278 Qualcomm Common Stock 747525103 7061 165514 SH SOLE None 165514 Quantum Common Stock 747906204 1080 400000 SH SOLE None 400000 Raymond James Financial Common Stock 754730109 212 7138 SH SOLE None 7138 RealNetworks Common Stock 75605L104 6 800 SH SOLE None 800 Realty Income Corp 8.25% Preferred Stock 756109203 199 7600 SH SOLE None 7600 Red Lion Hotels Common Stock 95750P106 261 21000 SH SOLE None 21000 Regal-Beloit Common Stock 758750103 8541 184150 SH SOLE None 184150 Repsol YPF SA ADS ADR 76026T205 508 15138 SH SOLE None 15138 Restoration Hardware Common Stock 760981100 1937 295203 SH SOLE None 295203 Rio Tinto plc ADS ADR 767204100 10956 48094 SH SOLE None 48094 Ritchie Bros. Auctioneers Common Stock 767744105 176 3000 SH SOLE None 3000 "Rochester Gas&Electric Corp," Preferred Stock 771367794 114 4500 SH SOLE None 4500 Rockwell Automation Common Stock 773903109 2215 37000 SH SOLE None 37000 Rohm & Haas Common Stock 775371107 9 165 SH SOLE None 165 Royal Dutch Shell PLC ADR 780259206 66 1000 SH SOLE None 1000 RPM Common Stock 749685103 1502 65000 SH SOLE None 65000 Ruby Tuesday Common Stock 781182100 14 500 SH SOLE None 500 S & P Mid-Cap 400 SPDR's Common Stock S30821995 31 198 SH SOLE None 198 Safeco Common Stock 786429100 111 1678 SH SOLE None 1678 SanDisk Common Stock 80004C101 4380 100000 SH SOLE None 100000 Sanofi-Aventis ADR ADR 80105N105 5 125 SH SOLE None 125 Santa Fe Energy Trust Common Stock 802013102 23 900 SH SOLE None 900 "Saturn Goodrich Corp, Series 2002" Preferred Stock 80410V206 43 2700 SH SOLE None 2700 Saturns Dpl Inc Bkd Ser 2002 3 Tr. Preferred Stock 80410A202 38 1500 SH SOLE None 1500 Saturns Hertz Corp Series 2003-8 Preferred Stock 804115202 25 1000 SH SOLE None 1000 Satyam Computer Services ADS ADR 804098101 136 6000 SH SOLE None 6000 Schlumberger Ltd Common Stock 806857108 163 2360 SH SOLE None 2360 Schwab (Charles) Common Stock 808513105 457 25000 SH SOLE None 25000 Sempra Energy Common Stock 816851109 2193 35950 SH SOLE None 35950 Semtech Common Stock 816850101 18 1330 SH SOLE None 1330 Shire PLC ADR ADR 82481r106 124 2000 SH SOLE None 2000 Simon Property Group Common Stock 828806109 122 1100 SH SOLE None 1100 Singapore Telecom ADR NEW ADR 82929R304 37 1700 SH SOLE None 1700 Sinopec ADR ADR 16941R108 5 63 SH SOLE None 63 SK Telecom ADR ADR 78440P108 117 5000 SH SOLE None 5000 Sony ADS ADR 835699307 151 3000 SH SOLE None 3000 Southwest Airlines Common Stock 844741108 15 1000 SH SOLE None 1000 Spectra Energy Common Stock 847560109 1142 43480 SH SOLE None 43480 Stage Stores Common Stock 85254C305 81 3487 SH SOLE None 3487 Staples Common Stock 855030102 5362 207516 SH SOLE None 207516 Starbucks Common Stock 855244109 63 2000 SH SOLE None 2000 Stericycle Common Stock 858912108 11 130 SH SOLE None 130 Suburban Propane Partners LP Common Stock 864482104 220 5000 SH SOLE None 5000 SumTotal Systems Common Stock 866615107 399 50000 SH SOLE None 50000 Supreme Industries Common Stock 868607102 59 10100 SH SOLE None 10100 T. Rowe Price Group Inc. Common Stock 74144T108 50 1050 SH SOLE None 1050 Taiwan Semiconductor ADS ADR 874039100 8304 772476 SH SOLE None 772476 Target Common Stock 8.76E+110 36 600 SH SOLE None 600 TCW Convertible Securities Fund Common Stock 872340104 10 1875 SH SOLE None 1875 Teekay LNG Partners LP Common Stock Y8564M105 103 2750 SH SOLE None 2750 Telecom Corp New Zealand ADS ADR 879278208 169 6200 SH SOLE None 6200 Telefonica SA ADS ADR 879382208 2699 40642 SH SOLE None 40642 "Telefonos de Mexico, Cl L ADS" ADR 879403780 484 14500 SH SOLE None 14500 Telephone & Data Sys 6.625% Pfd Preferred Stock 879433852 77 3200 SH SOLE None 3200 Telstra ADR ADR 87969N204 1511 80000 SH SOLE None 80000 Telus Common Stock 87971M103 255 5000 SH SOLE None 5000 Telus Common Stock 87971M202 1770 35400 SH SOLE None 35400 Tenaris SA ADR ADR 88031M109 1492 32500 SH SOLE None 32500 Thoratec Common Stock 885175307 70 3340 SH SOLE None 3340 Tomkins plc ADS ADR 890030208 841 40000 SH SOLE None 40000 Toronto-Dominion Bank Common Stock 891160509 422 6992 SH SOLE None 6992 TOTAL SA ADS ADR 8.92E+113 223 3200 SH SOLE None 3200 Toyota Motor ADS ADR 892331307 5266 41090 SH SOLE None 41090 Transocean Sedco Forex Common Stock G90078109 9 112 SH SOLE None 112 Transport de Gas del Sur S.A. ADS ADR 893870204 10 1500 SH SOLE None 1500 Travelcenters of America Common Stock 894174101 4 95 SH SOLE None 95 Travelers Cos Inc Common Stock 8.94E+113 6 114 SH SOLE None 114 Trimble Navigation Common Stock 896239100 7710 287270 SH SOLE None 287270 UAL Corp Common Stock 902549807 210 5500 SH SOLE None 5500 Ultralife Batteries Common Stock S18978999 108 10000 SH SOLE None 10000 Unilever N.V. Common Stock 904784501 161 5500 SH SOLE None 5500 Unilever PLC ADS ADR 904767704 2255 75000 SH SOLE None 75000 "United Parcel Service, Cl B" Common Stock 911312106 8685 123890 SH SOLE None 123890 United States Steel Common Stock 912909108 3273 33000 SH SOLE None 33000 United Technologies Common Stock 913017109 2958 45515 SH SOLE None 45515 UnitedHealth Group Common Stock 91324P102 146 2750 SH SOLE None 2750 UPM-Kymmene Oyj ADS ADR 915436109 89 3500 SH SOLE None 3500 US Bancorp Common Stock 902973304 50 1430 SH SOLE None 1430 USEC Common Stock 9.03E+112 148 9100 SH SOLE None 9100 Valspar Common Stock 920355104 1113 40000 SH SOLE None 40000 Valueclick Common Stock 92046N102 14 550 SH SOLE None 550 Van Kampen Senior Income Trust Common Stock 920961109 39 4389 SH SOLE None 4389 VCA Antech Common Stock 918194101 5690 156700 SH SOLE None 156700 Verigy Ltd Common Stock Y93691106 1785 76043 SH SOLE None 76043 Vertical Communications Common Stock 924914104 9 10000 SH SOLE None 10000 Vodafone GRP ADS ADR 92857W209 1941 72251 SH SOLE None 72251 Votorantim Celulose ADS ADR 92906p106 146 8000 SH SOLE None 8000 Wachovia Corp Common Stock 929903102 110 2000 SH SOLE None 2000 Walgreen Common Stock 931422109 157 3419 SH SOLE None 3419 Washington Banking Company Common Stock 937303105 96 6250 SH SOLE None 6250 Washington Group Intl Common Stock 938862208 6631 100000 SH SOLE None 100000 Washington Mutual Common Stock 939322103 606 15012 SH SOLE None 15012 Weatherford International Common Stock 947074100 56 1240 SH SOLE None 1240 Wells Fargo & Co Common Stock 949746101 38 1116 SH SOLE None 1116 Weyerhaeuser Common Stock 962166104 2122 28375 SH SOLE None 28375 "Wiley (John) & Sons, Cl A" Common Stock 968223206 3965 105000 SH SOLE None 105000 Worthington Industries Common Stock 981811102 57 2750 SH SOLE None 2750 Wyeth Common Stock 983024100 6651 132940 SH SOLE None 132940 Yahoo! Common Stock 984332106 38 1225 SH SOLE None 1225 YRC Worldwide Common Stock 984249102 2 60 SH SOLE None 60 "Zebra Technologies, Cl A" Common Stock 989207105 32 817 SH SOLE None 817 Zimmer Holdings Common Stock 98956P102 7797 91310 SH SOLE None 91310 TOTAL 628953
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