-----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, L4QqO3+od4WoZT39pmYETutV2ISyZYuo2Y/fNSWMIxfmgW3dhKUGHb8RBLuPfG/2 C8mS+EIlOzgIpL2tmCk9pw== 0001316617-09-000009.txt : 20091113 0001316617-09-000009.hdr.sgml : 20091113 20091112194938 ACCESSION NUMBER: 0001316617-09-000009 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091113 DATE AS OF CHANGE: 20091112 EFFECTIVENESS DATE: 20091113 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: 091178760 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 form13f20090930.txt Q3 HOLDINGS, SEPTEMBER 30, 2009 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F Form 13F Cover Page Report for the Calendar Year Ended: September 30, 2009 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: JANE CARTEN PRESIDENT (360) 734-9900 /s/ Jane Carten Bellingham, WA November 12,2009 Report Type: 13F HOLDINGS REPORT FORM 13F SUMMARY PAGE Report Summary Number of other included managers: 0 Form 13F information table entry total: 433 Form 13F information table value total: $1,895,656 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 $327 "62,500" SH SOLE None 62500 3M Common Stock 88579Y101 "$14,890 " "201,767" SH SOLE None 201767 51job ADR ADR 316827104 $112 "8,000" SH SOLE None 8000 Abbott Laboratories Common Stock 2824100 "$16,170 " "326,864" SH SOLE None 326864 ABT OCT 2009 45 CALL "Option, equity" 0028249J0 ($15) 34 CALL SOLE None 34 Accenture LTD-CL A Common Stock G1150G111 $108 "2,900" SH SOLE None 2900 Activision Common Stock 4930202 $178 "14,396" SH SOLE None 14396 Adobe Systems Common Stock 00724F101 "$20,545 " "621,820" SH SOLE None 621820 Advanced Micro Devices Common Stock 7903107 $57 "10,000" SH SOLE None 10000 Aegon NV Common Stock 7924103 $846 "100,000" SH SOLE None 100000 Agilent Technologies Common Stock 00846U101 "$21,541 " "774,022" SH SOLE None 774022 Air France-KLM ADR ADR 9119108 $453 "25,000" SH SOLE None 25000 Air Products & Chemicals Common Stock 9158106 "$15,516 " "200,000" SH SOLE None 200000 Akamai Technologies Common Stock 00971T101 "$15,818 " "803,775" SH SOLE None 803775 Alabama Power Co Common Stock 10392496 $131 "5,000" SH SOLE None 5000 Alabama Power Series JJ Preferred Stock 10392520 $26 "1,000" SH SOLE None 1000 Alaska Air Group Common Stock 11659109 $268 "10,000" SH SOLE None 10000 Alcatel-Lucent ADS ADR 13904305 $- 86 SH SOLE None 86 Alcoa Common Stock 13817101 "$7,129 " "543,355" SH SOLE None 543355 Allegiant Travel Common Stock 01748X102 $381 "10,000" SH SOLE None 10000 Amazon.com Common Stock 23135106 "$23,928 " "256,300" SH SOLE None 256300 Ameren Common Stock 23608102 $8 333 SH SOLE None 333 America Movil SAB de CV ADS ADR 02364W105 "$20,482 " "467,300" SH SOLE None 467300 American Eagle Outfitters Common Stock 2.55E+109 "$15,193 " "901,150" SH SOLE None 901150 American Electric Power Common Stock 25537101 $4 120 SH SOLE None 120 American Oriental Bioengineering Common Stock 28731107 $515 "106,000" SH SOLE None 106000 AmerisourceBergen Corp Common Stock 3.07E+108 $2 110 SH SOLE None 110 Amgen Common Stock 31162100 "$18,427 " "305,944" SH SOLE None 305944 Anadarko Petroleum Common Stock 32511107 $106 "1,685" SH SOLE None 1685 Analog Devices Common Stock 32654105 $14 500 SH SOLE None 500 Anglo American PLC ADR ADR 03485P201 "$20,528 " "1,292,674" SH SOLE None 1292674 Aon Corp Common Stock 37389103 $169 "4,160" SH SOLE None 4160 Apache Common Stock 37411105 $49 532 SH SOLE None 532 Apartment Investment & Management Common Stock 03748R101 $88 "5,958" SH SOLE None 5958 Apartment Investment & Management Preferred Stock 03748r408 $27 "1,100" SH SOLE None 1100 Apple Common Stock 37833100 "$43,192 " "233,030" SH SOLE None 233030 Arch Coal Common Stock 39380100 "$14,429 " "652,000" SH SOLE None 652000 Archer-Daniels-Midland Common Stock 39483102 "$2,341 " "80,125" SH SOLE None 80125 Arkema ADS ADR 41232109 $1 17 SH SOLE None 17 ARM Holdings plc ADS ADR 42068106 $22 "3,111" SH SOLE None 3111 Asia Pacific Fund Common Stock 44901106 $7 757 SH SOLE None 757 AstraZeneca PLC ADS ADR 46353108 "$8,541 " "190,000" SH SOLE None 190000 AT&T Common Stock 00206R102 "$8,736 " "323,431" SH SOLE None 323431 ATC Healthcare Common Stock 00209C102 $- "2,659" SH SOLE None 2659 Australia & New Zealand Banking ADS ADR 52528304 $709 "32,935" SH SOLE None 32935 Autodesk Common Stock 52769106 $19 800 SH SOLE None 800 Autoliv Common Stock 52800109 $5 153 SH SOLE None 153 Avery Dennison Common Stock 53611109 "$2,161 " "60,000" SH SOLE None 60000 Avista Common Stock 05379B107 $213 "10,550" SH SOLE None 10550 AXA SA ADS ADR 54536107 $487 "18,000" SH SOLE None 18000 Banco Bilbao Vizcaya Argentaria SA ADR 05946K101 $535 "30,000" SH SOLE None 30000 Banco Santander ADS ADR 05964H105 "$1,632 " "101,098" SH SOLE None 101098 Bank of America Common Stock 60505104 $28 "1,678" SH SOLE None 1678 Bank of New York Mellon Common Stock 64058100 $87 "3,018" SH SOLE None 3018 Banner Corporation Common Stock 06652V109 $273 "100,000" SH SOLE None 100000 Barrick Gold Common Stock 67901108 $948 "25,000" SH SOLE None 25000 BASF SE ADS ADR 55262505 "$7,656 " "144,450" SH SOLE None 144450 BCE Common Stock 05534B760 "$1,368 " "55,469" SH SOLE None 55469 "Becton, Dickinson & Co." Common Stock 75887109 "$3,488 " "50,000" SH SOLE None 50000 Bed Bath & Beyond Common Stock 75896100 "$5,940 " "158,219" SH SOLE None 158219 Best Buy Common Stock 86516101 "$17,215 " "458,817" SH SOLE None 458817 BHP Billiton ADS ADR 88606108 "$14,217 " "215,370" SH SOLE None 215370 Black & Decker Common Stock 91797100 "$2,007 " "43,350" SH SOLE None 43350 Boston Scientific Common Stock 101137107 $4 400 SH SOLE None 400 BP PLC ADS ADR 55622104 "$17,468 " "328,159" SH SOLE None 328159 Brandywine Realty Trust Common Stock 105368203 $4 397 SH SOLE None 397 Bristol-Myers Squibb Common Stock 110122108 "$12,637 " "561,128" SH SOLE None 561128 Building Materials Common Stock 120113105 $- "3,085" SH SOLE None 3085 Burlington Northern Santa Fe Common Stock 12189T104 "$8,242 " "103,250" SH SOLE None 103250 Cadbury PLC ADS ADR 1.27E+106 "$1,024 " "20,000" SH SOLE None 20000 Canadian National Railway Common Stock 136375102 "$10,131 " "206,800" SH SOLE None 206800 Canadian Pacific Railway Common Stock 13645T100 "$14,251 " "304,830" SH SOLE None 304830 Canon ADS ADR 138006309 "$17,077 " "427,030" SH SOLE None 427030 Capital One Financial Common Stock 14040H105 $4 100 SH SOLE None 100 Carlisle Common Stock 142339100 "$13,564 " "400,000" SH SOLE None 400000 Carmax Common Stock 143130102 $35 "1,680" SH SOLE None 1680 Caterpillar Common Stock 149123101 $34 660 SH SOLE None 660 Charles River Laboratories Common Stock 159864107 $55 "1,495" SH SOLE None 1495 Charles Schwab Common Stock 808513105 $479 "25,000" SH SOLE None 25000 Chemtura Common Stock 163893100 $- 465 SH SOLE None 465 Cheung Kong HLDG UNSP/ADR ADR 166744201 $4 328 SH SOLE None 328 ChevronTexaco Common Stock 166764100 $299 "4,247" SH SOLE None 4247 China Mobile ADS ADR 16941M109 "$18,880 " "384,450" SH SOLE None 384450 China Petroleum and Chemical ADR ADR 16941R108 $34 400 SH SOLE None 400 China Techfaith Wireless ADR ADR 169424108 $33 "10,000" SH SOLE None 10000 Chubb Common Stock 171232101 $391 "7,750" SH SOLE None 7750 Chunghwa Telecom ADR ADR 17133Q403 "$12,152 " "673,627" SH SOLE None 673627 Cia Paranaense de Energia -Copel ADR 20441B407 $26 "1,500" SH SOLE None 1500 Cisco Systems Common Stock 17275R102 "$23,892 " "1,014,938" SH SOLE None 1014938 Citigroup Common Stock 172967101 $2 500 SH SOLE None 500 Clorox Common Stock 189054109 "$17,646 " "300,000" SH SOLE None 300000 Coach Common Stock 189754104 "$16,750 " "508,800" SH SOLE None 508800 Coca-Cola Femsa SAB de CV ADS ADR 191241108 "$1,088 " "22,626" SH SOLE None 22626 Colgate-Palmolive Common Stock 194162103 "$15,256 " "200,000" SH SOLE None 200000 Comtech Communications Common Stock 205826209 $33 "1,000" SH SOLE None 1000 ConocoPhillips Common Stock 20825C104 "$13,912 " "308,052" SH SOLE None 308052 Consol Energy Common Stock 20854P109 "$20,300 " "450,000" SH SOLE None 450000 Convergys Common Stock 212485106 "$7,472 " "751,733" SH SOLE None 751733 Copa Holdings SA Common Stock P31076105 $445 "10,000" SH SOLE None 10000 Corning Common Stock 219350105 $5 300 SH SOLE None 300 Corp Office Props Trust CLASS H Preferred Stock 22002T603 $23 "1,000" SH SOLE None 1000 CPFL Energia S A ADR ADR 126153105 $324 "6,000" SH SOLE None 6000 Crane Common Stock 224399105 "$7,743 " "300,000" SH SOLE None 300000 Cree Common Stock 225447101 "$18,706 " "509,000" SH SOLE None 509000 CRH PLC ADS ADR 12626K203 $294 "10,600" SH SOLE None 10600 CVS Caremark Common Stock 126650100 "$19,657 " "550,000" SH SOLE None 550000 Danaher Common Stock 235851102 $24 360 SH SOLE None 360 DANONE ADS ADR 23636T100 "$4,969 " "410,674" SH SOLE None 410674 Dassault Systems SA ADR ADR 237545108 $280 "5,000" SH SOLE None 5000 DealerTrack Holdings Common Stock 242309102 $3 141 SH SOLE None 141 Dentsply International Common Stock 249030107 "$15,589 " "451,340" SH SOLE None 451340 Desarrolladora Homex ADR ADR 25030W100 $30 800 SH SOLE None 800 Devon Energy Common Stock 25179M103 $303 "4,500" SH SOLE None 4500 Diebold Common Stock 253651103 $26 800 SH SOLE None 800 Disney (Walt) Common Stock 254687106 $7 260 SH SOLE None 260 Dominion Resources Inc./VA Common Stock 25746U109 $4 120 SH SOLE None 120 Donnelley (RR) & Sons Common Stock 257867101 $241 "11,337" SH SOLE None 11337 Dow Chemical Common Stock 260543103 $61 "2,342" SH SOLE None 2342 Dr Pepper Snapple Common Stock 2.61E+113 $345 "12,000" SH SOLE None 12000 Dr. Reddy's Laboratories ADR ADR 256135203 $31 "1,600" SH SOLE None 1600 Dreamworks Animation Common Stock 26153C103 $12 330 SH SOLE None 330 DTE Energy Common Stock 233331107 $5 137 SH SOLE None 137 Duke Energy Common Stock 26441C105 $244 "15,517" SH SOLE None 15516.672 Duke Realty Common Stock 264411505 $297 "24,707" SH SOLE None 24707.222 Dun & Bradstreet Common Stock 2.65E+104 "$9,989 " "132,620" SH SOLE None 132620 E.ON AG ADS ADR 268780103 "$8,710 " "204,695" SH SOLE None 204695 Earthlink Common Stock 270321102 $41 "4,900" SH SOLE None 4900 Edison International Common Stock 281020107 $36 "1,080" SH SOLE None 1080 EI Du Pont de Nemours Common Stock 263534109 "$7,775 " "241,900" SH SOLE None 241900 Eli Lilly Common Stock 532457108 "$24,138 " "730,800" SH SOLE None 730800 EMCOR Common Stock 29084Q100 "$12,660 " "500,000" SH SOLE None 500000 Emerson Electric Common Stock 291011104 "$7,214 " "180,000" SH SOLE None 180000 Empresa Brasileira de Aeronautica ADR 29081M102 $145 "6,342" SH SOLE None 6342 Emulex Common Stock 292475209 $10 "1,000" SH SOLE None 1000 Enbridge Energy Partners LP Common Stock 29250R106 $485 "10,760" SH SOLE None 10760 EnCana Common Stock 292505104 "$36,494 " "633,458" SH SOLE None 633458 Energen Common Stock 29265N108 "$6,896 " "160,000" SH SOLE None 160000 Enersis SA ADS ADR 29274F104 "$1,199 " "65,000" SH SOLE None 65000 "Entergy Arknsas Inc, Prf 6.70%" Preferred Stock 29364D811 $51 "2,000" SH SOLE None 2000 Entergy MISS 1st MTG Preferred Stock 29364N876 $25 "1,000" SH SOLE None 1000 Epcos AG ADS ADR 29410P107 $143 "5,000" SH SOLE None 5000 Exelon Corp Common Stock 30161N101 $8 161 SH SOLE None 161 Expedia Inc. - Cl A Common Stock 30212P105 $27 "1,122" SH SOLE None 1122 Express Scripts Common Stock 302182100 "$19,527 " "251,704" SH SOLE None 251704 Exxon Mobil Common Stock 30231G102 "$15,954 " "232,532" SH SOLE None 232532 Fair Issac & Co Common Stock 303250104 $39 "1,806" SH SOLE None 1806 FairPoint Communications Common Stock 305560104 $- 26 SH SOLE None 26 Fastenal Common Stock 311900104 "$6,100 " "157,620" SH SOLE None 157620 FCX NOV 2009 50 CALL "Option, equity" 35671D9K0 ($25) 13 CALL SOLE None 13 Fiserv Common Stock 337738108 $22 450 SH SOLE None 450 Flextronics International Common Stock 300999109 $7 "1,000" SH SOLE None 1000 FLIR Systems Common Stock 302445101 $56 "2,000" SH SOLE None 2000 FPL Common Stock 302571104 "$9,989 " "180,856" SH SOLE None 180856 FPL Group Capital Trust I Preferred Stock 30257v207 $28 "1,100" SH SOLE None 1100 Freeport-McMoRan Copper & Gold Common Stock 35671D857 "$8,127 " "118,451" SH SOLE None 118451 Frontier Financial Common Stock 35907K105 $7 "6,250" SH SOLE None 6250 FTI Consulting Common Stock 302941109 $213 "5,000" SH SOLE None 5000 Furrs Restaurant Group Common Stock 361115603 $- 2 SH SOLE None 2 Gabelli Dividend & Income Trust Common Stock 36242H104 $12 "1,000" SH SOLE None 1000 Gartner Common Stock 366651107 "$2,767 " "151,441" SH SOLE None 151441 GDF Suez ADR 36160B105 $6 125 SH SOLE None 125 General Electric Common Stock 369604103 $384 "23,367" SH SOLE None 23367 General Mills Common Stock 370334104 "$9,737 " "151,244" SH SOLE None 151244 Genpact Limited Common Stock G3922B107 $25 "2,000" SH SOLE None 2000 Gentex Common Stock 371901109 "$2,772 " "195,886" SH SOLE None 195886 Genuine Parts Common Stock 372460105 "$18,187 " "477,850" SH SOLE None 477850 Genzyme Common Stock 372917104 "$17,062 " "300,757" SH SOLE None 300757 Georgia Gulf Common Stock 373200203 $- 9 SH SOLE None 9 Georgia Power CO Cl A PFD 6.125% Preferred Stock 373334473 $98 "4,000" SH SOLE None 4000 Gilead Sciences Common Stock 375558103 $226 "4,850" SH SOLE None 4850 GlaxoSmithKline PLC ADS ADR 37733W105 "$12,594 " "318,755" SH SOLE None 318755 Global Payments Inc Common Stock 37940X102 $18 382 SH SOLE None 382 Google Common Stock 38259P508 "$22,358 " "45,090" SH SOLE None 45090 Grainger (W.W) Common Stock 384802104 "$3,717 " "41,600" SH SOLE None 41600 Great Plains Energy Inc. Common Stock 391164100 $4 197 SH SOLE None 197 Green Mountain Coffee Roasters Common Stock 393122106 $122 "1,650" SH SOLE None 1650 Hain Celestial Group Common Stock 405217100 $94 "4,900" SH SOLE None 4900 Halliburton Common Stock 406216101 $3 120 SH SOLE None 120 Hanesbrands Common Stock 410345102 $1 55 SH SOLE None 55 Hansen Natural Common Stock 411310105 "$12,370 " "336,700" SH SOLE None 336700 Harman International Industries Common Stock 413086109 $139 "4,100" SH SOLE None 4100 Harris Common Stock 413875105 "$18,941 " "503,750" SH SOLE None 503750 Harris Stratex Networks Common Stock 41457P106 $876 "125,138" SH SOLE None 125138 Health Care Property Common Stock 42217K106 $13 302 SH SOLE None 302 Health Care Property Investors Common Stock 421915109 $11 381 SH SOLE None 381 Heinz (H.J.) Common Stock 423074103 $40 "1,000" SH SOLE None 1000 Hewlett-Packard Common Stock 428236103 "$24,768 " "524,630" SH SOLE None 524630 Home Depot Common Stock 437076102 $11 425 SH SOLE None 425 Honeywell International Common Stock 438516106 "$8,818 " "237,350" SH SOLE None 237350 Hospira Common Stock 441060100 $273 "6,129" SH SOLE None 6129 Hospitality Properties Trust Common Stock 44106M102 $19 950 SH SOLE None 950 HSBC Holdings plc ADS ADR 404280406 $64 "1,122" SH SOLE None 1122 HSN Common Stock 404303109 $4 224 SH SOLE None 224 Humana Common Stock 444859102 "$24,430 " "654,957" SH SOLE None 654957 Hutchison Whampoa ADR ADR 448415208 $3 77 SH SOLE None 77 IAC/InterActiveCorp Common Stock 44919P300 $11 561 SH SOLE None 561 IBM OCT 2009 120 CALL "Option, equity" 4592009J0 ($3) 10 CALL SOLE None 10 ICICI Bank Ltd ADS ADR 45104G104 "$1,157 " "30,000" SH SOLE None 30000 Idacorp Common Stock 451107106 $543 "18,850" SH SOLE None 18850 Idearc INC Common Stock 451663108 $- "1,000" SH SOLE None 1000 Illinois Tool Works Common Stock 452308109 "$8,738 " "204,600" SH SOLE None 204600 Impala Platinum Holdings ADS ADR 452553308 $36 "1,500" SH SOLE None 1500 IMS Health Common Stock 449934108 "$4,804 " "312,933" SH SOLE None 312933 Infosys ADS ADR 456788108 "$13,713 " "282,800" SH SOLE None 282800 ING Groep NV ADS ADR 456837103 $474 "26,600" SH SOLE None 26600 Integrated Device Technology Common Stock 458118106 $27 "4,030" SH SOLE None 4030 Intel Common Stock 458140100 "$32,363 " "1,653,720" SH SOLE None 1653720 International Business Machines Common Stock 459200101 "$20,205 " "168,927" SH SOLE None 168927 Interval Leisure Group Common Stock 46113M108 $3 224 SH SOLE None 224 Intuit Common Stock 461202103 "$12,206 " "428,274" SH SOLE None 428274 "Inverness Medical Innov, cv pfd B" Convt Prefrd Stock 46126P304 $48 183 SH SOLE None 183 Iron Mountain Common Stock 462846106 $24 907 SH SOLE None 907 ishares Russell 2000 Common Stock 464287655 $29 476 SH SOLE None 476 J.C. Penney Company Common Stock 708160106 $15 444 SH SOLE None 444 JAKKS Pacific Common Stock 4.70E+110 "$2,864 " "200,000" SH SOLE None 200000 JM Smucker Common Stock 832696405 "$6,362 " "120,010" SH SOLE None 120010 John Wiley & Sons Common Stock 968223206 "$3,756 " "108,000" SH SOLE None 108000 Johnson & Johnson Common Stock 478160104 "$33,833 " "555,645" SH SOLE None 555645 Johnson Controls Common Stock 478366107 "$5,112 " "200,000" SH SOLE None 200000 JP Morgan Chase & Co Common Stock 46625H100 $189 "4,322" SH SOLE None 4322 KB Home Common Stock 48666K109 $428 "25,775" SH SOLE None 25775 Kellogg Common Stock 487836108 "$13,627 " "276,800" SH SOLE None 276800 KeyCorp Common Stock 493267108 $8 "1,272" SH SOLE None 1272 Kimberly-Clark Common Stock 494368103 "$7,777 " "131,860" SH SOLE None 131860 Kinder Morgan Energy Partners Common Stock 494550106 $113 "2,100" SH SOLE None 2100 Knight Transportation Common Stock 499064103 $21 "1,237" SH SOLE None 1237 Kohl's Common Stock 500255104 $29 500 SH SOLE None 500 Korea Electric Power ADS ADR 500631106 $305 "20,000" SH SOLE None 20000 LaCrosse Footwear Common Stock 505688101 $61 "5,000" SH SOLE None 5000 LAN Airlines SA ADS ADR 501723100 "$6,320 " "479,500" SH SOLE None 479500 Life Technologies Common Stock 53217V109 $17 363 SH SOLE None 363 Lifepoint Hospitals Common Stock 53219L109 $16 581 SH SOLE None 581 Ligand Pharmaceuticals Common Stock 53220K207 $23 "10,000" SH SOLE None 10000 Lihir Gold Limited ADS ADR 532349107 "$1,378 " "55,000" SH SOLE None 55000 Lincoln Electric Holdings Common Stock 533900106 "$9,708 " "204,600" SH SOLE None 204600 Lincoln National Common Stock 534187109 $5 177 SH SOLE None 177 Lockheed Martin Common Stock 539830109 $31 400 SH SOLE None 400 LoopNet Common Stock 543524300 $181 "20,000" SH SOLE None 20000 Lowe's Common Stock 548661107 "$8,756 " "418,128" SH SOLE None 418128 Manitowoc Common Stock 563571108 $6 600 SH SOLE None 600 McGraw-Hill Common Stock 580645109 "$18,237 " "725,406" SH SOLE None 725406 Medco Health Solutions Common Stock 58405U102 $111 "2,014" SH SOLE None 2014 Medtronic Common Stock 585055106 "$5,675 " "154,200" SH SOLE None 154200 Merck & Co Common Stock 589331107 $244 "7,708" SH SOLE None 7708 Merix Common Stock 590049102 $6 "2,020" SH SOLE None 2020 Methanex Common Stock 59151K108 "$5,193 " "300,000" SH SOLE None 300000 Metso Oyj ADS ADR 592671101 $481 "17,100" SH SOLE None 17100 Microchip Technology Common Stock 595017104 "$10,817 " "408,200" SH SOLE None 408200 Microsoft Common Stock 594918104 "$12,948 " "503,409" SH SOLE None 503409 Millicom Intl Cellular SA Common Stock L6388F110 $44 603 SH SOLE None 603 Mindray Medical International ADR 602675100 $26 800 SH SOLE None 800 Mitsubishi UFJ Financial ADR ADR 606822104 $534 "100,000" SH SOLE None 100000 Monsanto Common Stock 61166W101 $46 600 SH SOLE None 600 Moody's Common Stock 615369105 $206 "10,081" SH SOLE None 10081 Morningstar Common Stock 617700109 $49 "1,000" SH SOLE None 1000 Motorola Common Stock 620076109 $25 "2,873" SH SOLE None 2873 MS Structured Asset Preferred Stock 86360Y207 $150 "6,000" SH SOLE None 6000 Mylan Laboratories Common Stock 628530107 $3 180 SH SOLE None 180 National Fuel Gas Common Stock 636180101 "$5,955 " "130,000" SH SOLE None 130000 National Rural Utitlity Preferred Stock 637432709 $25 "1,000" SH SOLE None 1000 Nestle's S.A. Common Stock 641069406 $36 852 SH SOLE None 852 News Corporation Common Stock 6.52E+108 $4 330 SH SOLE None 330 Nidec ADR ADR 654090109 $264 "13,000" SH SOLE None 13000 Nike Common Stock 654106103 "$13,005 " "201,000" SH SOLE None 201000 Nintendo ADR 654445303 $539 "17,086" SH SOLE None 17086 NiSource Common Stock 65473P105 $5 387 SH SOLE None 387 Nissan Motor ADS ADR 654744408 $636 "47,700" SH SOLE None 47700 Noble Common Stock H5833N103 "$19,747 " "520,200" SH SOLE None 520200 Noble Energy Common Stock 655044105 $14 218 SH SOLE None 218 Nokia Corp ADS ADR 654902204 $1 100 SH SOLE None 100 Nomura Holdings ADR ADR 65535h208 $188 "30,700" SH SOLE None 30700 Nordstrom Common Stock 655664100 $159 "5,200" SH SOLE None 5200 Norfolk Southern Common Stock 655844108 "$15,332 " "355,650" SH SOLE None 355650 Norsk Hydro ASA ADS ADR 656531605 $13 "2,000" SH SOLE None 2000 Northern Trust Common Stock 665859104 $58 "1,000" SH SOLE None 1000 Novartis AG ADR ADR 66987V109 "$38,179 " "757,817" SH SOLE None 757817 Novo Nordisk A/S ADS ADR 670100205 "$13,713 " "217,839" SH SOLE None 217839 NRG Energy Common Stock 629377508 $282 "10,000" SH SOLE None 10000 Nucor Common Stock 670346105 "$6,841 " "145,530" SH SOLE None 145530 Old Dominion Freight Line Common Stock 679580100 $6 200 SH SOLE None 200 Omincom Group Common Stock 681919106 $4 100 SH SOLE None 100 Oracle Common Stock 68389X105 "$21,660 " "1,039,338" SH SOLE None 1039338 Orient-Express Hotels Common Stock G67743107 "$1,508 " "131,000" SH SOLE None 131000 Oshkosh Truck Common Stock 688239201 $19 600 SH SOLE None 600 Pacific Financial Common Stock 694275108 $16 "3,504" SH SOLE None 3504 PAREXEL International Common Stock 699462107 $54 "4,000" SH SOLE None 4000 Parker Hannifin Common Stock 701094104 "$14,287 " "275,600" SH SOLE None 275600 Patterson - UTI Energy Common Stock 703481101 $109 "7,200" SH SOLE None 7200 Patterson Companies Common Stock 703395103 $10 350 SH SOLE None 350 Peabody Energy Common Stock 704549104 $2 57 SH SOLE None 57 Pearson PLC ADS ADR 705015105 "$4,655 " "374,490" SH SOLE None 374490 Pennsylvania REIT Common Stock 709102107 $3 350 SH SOLE None 350 PepsiCo Common Stock 713448108 "$34,109 " "581,463" SH SOLE None 581463 Petroleo Brasileiro ADR ADR 71654V408 $108 "2,350" SH SOLE None 2350 PetSmart Common Stock 716768106 "$13,177 " "605,860" SH SOLE None 605860 PFE OCT 2009 16 CALL "Option, equity" 7170819J0 ($2) 26 CALL SOLE None 26 Pfizer Common Stock 717081103 "$22,233 " "1,343,393" SH SOLE None 1343393 Pharmaceutical Product Development Common Stock 717124101 "$7,046 " "321,150" SH SOLE None 321150 Piedmont Natural Gas Common Stock 720186105 "$1,436 " "60,000" SH SOLE None 60000 PIMCO Commercial Mortgage Secs Common Stock 693388100 $8 "1,000" SH SOLE None 1000 Pitney Bowes Common Stock 724479100 $9 350 SH SOLE None 350 Plum Creek Timber Common Stock 729251108 "$1,869 " "61,007" SH SOLE None 61007 PNC Bank Common Stock 693475105 $34 705 SH SOLE None 705 Polycom Common Stock 73172K104 $44 "1,630" SH SOLE None 1630 Potash Corp of Saskatchewan Common Stock 73755L107 "$21,736 " "240,600" SH SOLE None 240600 PPG Industries Common Stock 693506107 "$5,821 " "100,000" SH SOLE None 100000 Praxair Common Stock 74005P104 "$9,903 " "121,225" SH SOLE None 121225 Precision Drilling Common Stock 74022D100 $20 "2,970" SH SOLE None 2970 Procter & Gamble Common Stock 742718109 "$17,999 " "310,752" SH SOLE None 310752 PT Indosat Tbk ADR ADR 744383100 $139 "5,000" SH SOLE None 5000 Public Storage International Common Stock 74460D109 $94 "1,247" SH SOLE None 1247 Qualcomm Common Stock 747525103 "$18,681 " "415,314" SH SOLE None 415314 Quest Diagnostics Common Stock 74834L100 $3 49 SH SOLE None 49 Quimica y Minera Chile S.A. ADS ADR 833635105 $35 900 SH SOLE None 900 R.H. Donnelley Common Stock 74955W307 $- 569 SH SOLE None 569 Raymond James Financial Common Stock 754730109 $166 "7,138" SH SOLE None 7138 Raytheon Common Stock 755111507 $333 "6,944" SH SOLE None 6944 RealNetworks Common Stock 75605L104 $3 800 SH SOLE None 800 Red Lion Hotels Common Stock 756764106 $288 "50,000" SH SOLE None 50000 Regal-Beloit Common Stock 758750103 "$11,457 " "250,650" SH SOLE None 250650 Regions Financial Common Stock 7591EP100 $8 "1,329" SH SOLE None 1329 Repsol YPF SA ADS ADR 76026T205 "$1,810 " "66,638" SH SOLE None 66638 Rio Tinto PLC ADS ADR 767204100 "$15,273 " "89,686" SH SOLE None 89686 Ritchie Bros Auctioneers Common Stock 767744105 "$5,522 " "225,000" SH SOLE None 225000 Rockwell Automation Common Stock 773903109 "$10,650 " "250,000" SH SOLE None 250000 Rogers Communications Common Stock 775109200 "$5,647 " "200,249" SH SOLE None 200249 Royal Dutch Shell PLC ADR 780259206 $57 "1,000" SH SOLE None 1000 RPM International Common Stock 749685103 "$3,347 " "181,000" SH SOLE None 181000 Ryanair Holdings plc ADS ADR 783513104 $581 "20,000" SH SOLE None 20000 S & P Mid-Cap 400 SPDR's Common Stock S30821995 $25 198 SH SOLE None 198 SanDisk Common Stock 80004C101 "$2,930 " "135,000" SH SOLE None 135000 Sanmina Common Stock 800907107 $3 405 SH SOLE None 405 Sanofi-Aventis ADR ADR 80105N105 $13 363 SH SOLE None 363 SAP AG ADS ADR 803054204 "$7,917 " "162,000" SH SOLE None 162000 Sara Lee Common Stock 803111103 $5 444 SH SOLE None 444 Sasol Ltd ADS ADR 803866300 $38 "1,000" SH SOLE None 1000 "Saturn Goodrich, Series 2002 pfd" Preferred Stock 80410V206 $28 "1,100" SH SOLE None 1100 Saturns Dpl Inc Bkd Ser 2002 3 Tr. Preferred Stock 80410A202 $25 "1,000" SH SOLE None 1000 Saturns Hertz Corp Series 2003-8 Preferred Stock 804115202 $10 500 SH SOLE None 500 Schlumberger Ltd Common Stock 806857108 $141 "2,360" SH SOLE None 2360 Seagate Technology Common Stock G7945J104 "$3,852 " "253,250" SH SOLE None 253250 Sempra Energy Common Stock 816851109 "$2,211 " "44,390" SH SOLE None 44390 Semtech Common Stock 816850101 $23 "1,330" SH SOLE None 1330 Shire PLC ADR ADR 82481r106 "$1,046 " "20,000" SH SOLE None 20000 Simon Property Group Common Stock 828806109 $79 "1,141" SH SOLE None 1141 Singapore Telecom ADR ADR 82929R304 $36 "1,555" SH SOLE None 1555 SK Telecom ADR ADR 78440P108 "$4,014 " "230,000" SH SOLE None 230000 Source Capital $2.40 pfd Preferred Stock 836144204 $8 260 SH SOLE None 260 Southern Copper Common Stock 84265V105 $31 "1,000" SH SOLE None 1000 Southwest Airlines Common Stock 844741108 $10 "1,000" SH SOLE None 1000 Spectra Energy Common Stock 847560109 $370 "19,558" SH SOLE None 19558 Stage Stores Common Stock 85254C305 $45 "3,487" SH SOLE None 3487 Staples Common Stock 855030102 "$9,492 " "408,766" SH SOLE None 408766 State Street Corp Common Stock 857477103 $20 377 SH SOLE None 377 StatoilHydro ASA ADS ADR 85771P102 $130 "5,776" SH SOLE None 5776 Stericycle Common Stock 858912108 $13 260 SH SOLE None 260 Sterlite Industries ADR ADR 859737207 $32 "2,000" SH SOLE None 2000 streetTRACKS Gold Trust Common Stock 863307104 $33 337 SH SOLE None 337 Stryker Common Stock 863667101 "$4,543 " "100,000" SH SOLE None 100000 Suburban Propane Partners LP Common Stock 864482104 $167 "4,000" SH SOLE None 4000 Suncor Energy Common Stock 867224107 "$12,179 " "352,400" SH SOLE None 352400 SunPower Common Stock 867652109 $31 "1,050" SH SOLE None 1050 Swire Pac LTD ADR 870794302 $2 169 SH SOLE None 169 Synchronoss Technologies Common Stock 87157B103 $187 "15,000" SH SOLE None 15000 T. Rowe Price Group Inc. Common Stock 74144T108 $48 "1,050" SH SOLE None 1050 Taiwan Semiconductor ADS ADR 874039100 "$18,239 " "1,664,097" SH SOLE None 1664097 Target Common Stock 8.76E+110 $28 600 SH SOLE None 600 Tata Motors Limited ADS ADR 876568502 $78 "6,042" SH SOLE None 6042 TCW Convertible Securities Fund Common Stock 872340104 $8 "1,875" SH SOLE None 1875 Teck Resources LTD Common Stock 878742204 "$8,271 " "300,000" SH SOLE None 300000 Teekay LNG Partners LP Common Stock Y8564M105 $153 "6,150" SH SOLE None 6150 Telecom New Zealand ADS ADR 879278208 $232 "24,266" SH SOLE None 24266 Telecommunicacoes de Sao Paulo ADR ADR 87929A102 $31 "1,200" SH SOLE None 1200 Telefonica SA ADS ADR 879382208 "$1,487 " "17,937" SH SOLE None 17937 Telefonos de Mexico SAB de CV ADS ADR 879403780 $436 "25,000" SH SOLE None 25000 Telekom Austria AG ADR ADR 87943Q109 $5 148 SH SOLE None 148 Telekomunikasi Indonesia ADS ADR 715684106 $36 "1,000" SH SOLE None 1000 Telemex International SAB de CV ADR Common Stock 879690105 $140 "10,000" SH SOLE None 10000 Telenor ASA ADR ADR 87944W105 $8 226 SH SOLE None 226 Telephone & Data Sys 6.625% Pfd Preferred Stock 879433852 $23 "1,100" SH SOLE None 1100 Telstra ADR ADR 87969N204 "$1,437 " "100,000" SH SOLE None 100000 Telus Common Stock 87971M103 $- "5,000" SH SOLE None 5000 Telus Common Stock 87971M202 "$4,172 " "134,200" SH SOLE None 134200 Tenaris SA ADR ADR 88031M109 "$4,043 " "113,500" SH SOLE None 113500 Teva Pharmaceutical Industries ADS ADR 881624209 "$6,328 " "125,166" SH SOLE None 125166 Ticketmaster Common Stock 88633P302 $3 224 SH SOLE None 224 Tomkins PLC ADS ADR 890030208 "$1,208 " "100,750" SH SOLE None 100750 Toronto-Dominion Bank Common Stock 891160509 "$1,253 " "19,442" SH SOLE None 19442 Total SA ADS ADR 8.92E+113 "$13,138 " "221,700" SH SOLE None 221700 Toyota Motor ADS ADR 892331307 $70 890 SH SOLE None 890 Transocean Common Stock G90073100 $7 78 SH SOLE None 78 Travelcenters of America Common Stock 894174101 $1 95 SH SOLE None 95 Travelers Cos Inc Common Stock 8.94E+113 $1 28 SH SOLE None 28 Tree.com Common Stock 894675107 $- 37 SH SOLE None 37 Trimble Navigation Common Stock 896239100 "$17,389 " "727,270" SH SOLE None 727270 Turkcell Iletisim Hizmetleri ADR ADR 900111204 "$4,852 " "271,500" SH SOLE None 271500 Ultralife Batteries Common Stock S18978999 $61 "10,000" SH SOLE None 10000 Unilever N.V. Common Stock 904784501 $178 "6,184" SH SOLE None 6184 Unilever PLC ADS ADR 904767704 "$7,849 " "273,681" SH SOLE None 273681 United Parcel Service Common Stock 911312106 "$23,332 " "413,174" SH SOLE None 413174 United States Steel Common Stock 912909108 "$11,226 " "253,000" SH SOLE None 253000 United Technologies Common Stock 913017109 "$12,248 " "201,015" SH SOLE None 201015 UnitedHealth Common Stock 91324P102 $136 "5,425" SH SOLE None 5425 UPM-Kymmene Oyj ADS ADR 915436109 $42 "3,500" SH SOLE None 3500 US Bancorp Common Stock 902973304 $31 "1,430" SH SOLE None 1430 USEC Common Stock 9.03E+112 $24 "5,100" SH SOLE None 5100 USG Common Stock 903293405 $1 64 SH SOLE None 64 Vale SA-SP ADR ADR 9.19E+109 "$1,422 " "61,500" SH SOLE None 61500 Valero Energy Common Stock 91913Y100 $1 62 SH SOLE None 62 VCA Antech Common Stock 918194101 "$12,673 " "471,300" SH SOLE None 471300 Verigy Common Stock Y93691106 "$2,104 " "181,043" SH SOLE None 181043 Verizon Communications Common Stock 92343V104 $142 "4,695" SH SOLE None 4695 Vodafone Group PLC ADS ADR 92857W209 "$6,828 " "303,487" SH SOLE None 303487 Votorantim Celulose e Papel SA ADS ADR 92906P205 $747 "45,500" SH SOLE None 45500 Walgreen Common Stock 931422109 $123 "3,289" SH SOLE None 3289 Washington Banking Common Stock 937303105 $93 "10,000" SH SOLE None 10000 Waste Connections Common Stock 941053100 $10 331 SH SOLE None 331 Watson Pharmaceuticals Common Stock 942683103 $4 119 SH SOLE None 119 Weatherford International Common Stock 947074100 $53 "2,580" SH SOLE None 2580 Wells Fargo & Co Common Stock 949746101 $71 "2,514" SH SOLE None 2514 Western Digital Common Stock 958102105 $45 "1,220" SH SOLE None 1220 Weyerhaeuser Common Stock 962166104 $336 "9,175" SH SOLE None 9175 Whirlpool Common Stock 963320106 $5 72 SH SOLE None 72 Williams Companies Common Stock 969457100 $54 "3,000" SH SOLE None 3000 Wilmington Trust Corporation Common Stock 971807102 $19 "1,334" SH SOLE None 1334 Wolverine World Wide Common Stock 978097103 $13 517 SH SOLE None 517 Worthington Industries Common Stock 981811102 $22 "1,550" SH SOLE None 1550 Wright Express Corp Common Stock 98233Q105 $10 322 SH SOLE None 322 Wyeth Common Stock 983024100 "$21,861 " "450,000" SH SOLE None 450000 Xcel Energy Inc Common Stock 98389B100 $3 172 SH SOLE None 172 Xilinx Common Stock 983919101 "$11,710 " "500,000" SH SOLE None 500000 "Zebra Technologies, Cl A" Common Stock 989207105 $21 817 SH SOLE None 817 Zimmer Common Stock 98956P102 "$12,092 " "226,239" SH SOLE None 226239 ZON Multimedia Spon ADR 69366K207 $- 42 SH SOLE None 42 TOTAL "$1,895,656 "
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