0001085146-12-000648.txt : 20120504 0001085146-12-000648.hdr.sgml : 20120504 20120504171442 ACCESSION NUMBER: 0001085146-12-000648 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120504 DATE AS OF CHANGE: 20120504 EFFECTIVENESS DATE: 20120504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CYPRESS ASSET MANAGEMENT INC/TX CENTRAL INDEX KEY: 0001030618 IRS NUMBER: 76049608 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05956 FILM NUMBER: 12815266 BUSINESS ADDRESS: STREET 1: 2929 ALLEN PARKWAY STREET 2: SUITE 2200 CITY: HOUSTON STATE: TX ZIP: 77019 BUSINESS PHONE: 7135122100 MAIL ADDRESS: STREET 1: 2929 ALLEN PARKWAY STREET 2: SUITE 2200 CITY: HOUSTON STATE: TX ZIP: 77019 13F-HR 1 cypress1q2012.txt CYPRESS ASSET MANAGEMENT INC 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, 2012 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Cypress Asset Management Inc Address: 2929 Allen Parkway Suite 2200 Houston, TX 77019 13F File Number: 028-05956 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: Will Garwood Title: President Phone: 713-512-2146 Signature, Place, and Date of Signing: /s/ Will Garwood Houston, TX May 04, 2012 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 181 Form 13F Information Table Value Total: $470,606 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M CO COM 88579Y101 493 5525 SH SOLE 5525 0 0 ABB LTD SPONSORED ADR 000375204 539 26407 SH SOLE 16907 0 9500 ABBOTT LABS COM 002824100 1396 22777 SH SOLE 14177 0 8600 AGILENT TECHNOLOGIES INC COM 00846u101 334 7500 SH SOLE 0 0 7500 AIR PRODS & CHEMS INC COM 009158106 418 4555 SH SOLE 2705 0 1850 ALTERA CORP COM 021441100 812 20400 SH SOLE 4000 0 16400 ALTRIA GROUP INC COM 02209S103 4071 131883 SH SOLE 131883 0 0 AMAZON COM INC COM 023135106 496 2450 SH SOLE 1850 0 600 AMERICAN EXPRESS CO COM 025816109 239 4133 SH SOLE 2133 0 2000 AMERICAN WTR WKS CO INC NEW COM 030420103 541 15890 SH SOLE 15890 0 0 ANADARKO PETE CORP COM 032511107 6135 78308 SH SOLE 74008 0 4300 ANALOG DEVICES INC COM 032654105 2828 70000 SH SOLE 61650 0 8350 APACHE CORP COM 037411105 3832 38148 SH SOLE 36048 0 2100 APACHE CORP PFD CONV SER D 037411808 3600 64771 SH SOLE 61271 0 3500 APPLE INC COM 037833100 11930 19898 SH SOLE 18698 0 1200 APPLIED MATLS INC COM 038222105 192 15400 SH SOLE 400 0 15000 ARCH CAPITAL GROUP PFD A PFD G0450A147 241 9500 SH SOLE 1500 0 8000 AT&T INC COM 00206r102 1016 32525 SH SOLE 27025 0 5500 AUSTRALIA & NEW ZEALAND BKG GR COM 052528304 208 8646 SH SOLE 5146 0 3500 BANCO BRADESCO S A SP ADR PFD NEW 059460303 309 17650 SH SOLE 16150 0 1500 BANK OF AMERICA COM 06605F102 122 12800 SH SOLE 2000 0 10800 BARRICK GOLD CORP COM 067901108 4369 100484 SH SOLE 93434 0 7050 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4047 49868 SH SOLE 46718 0 3150 BHP BILLITON LTD SPONSORED ADR 088606108 277 3830 SH SOLE 3830 0 0 BHP BILLITON PLC SPONSORED ADR 05545E209 2567 41822 SH SOLE 40422 0 1400 BRISTOL MYERS SQUIBB CO COM 110122108 2262 67008 SH SOLE 58508 0 8500 BRITISH AMERN TOB PLC SPONSORED ADR 110448107 2187 21608 SH SOLE 21608 0 0 BROADCOM CORP CL A 111320107 261 6650 SH SOLE 2750 0 3900 CANADIAN NATL RY CO COM 136375102 2632 33139 SH SOLE 29839 0 3300 CANADIAN PAC RY LTD COM 13645T100 2220 29235 SH SOLE 26585 0 2650 CATERPILLAR INC DEL COM 149123101 6157 57803 SH SOLE 50528 0 7275 CF INDS HLDGS INC COM 125269100 457 2500 SH SOLE 1100 0 1400 CHEVRON CORP NEW COM 166764100 12579 117331 SH SOLE 111231 0 6100 CISCO SYS INC COM 17275R102 451 21315 SH SOLE 11915 0 9400 CLAYMORE EXCHANGE-TRD FD TR GUGG CHINA ALLCP 18385p101 396 16750 SH SOLE 15750 0 1000 CNOOC LTD SPONSORED ADR 126132109 3522 17239 SH SOLE 16289 0 950 COCA COLA CO COM 191216100 11539 155906 SH SOLE 141806 0 14100 COLGATE PALMOLIVE CO COM 194162103 2889 29550 SH SOLE 24850 0 4700 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 448 5850 SH SOLE 5850 0 0 CONTINENTAL RESOURCES INC COM 212015101 1259 14670 SH SOLE 14170 0 500 COOPER INDUSTRIES PLC SHS G24140108 231 3610 SH SOLE 3610 0 0 COSTCO WHSL CORP NEW COM 22160K105 413 4551 SH SOLE 4551 0 0 CPFL ENERGIA S A SPONSORED ADR 126153105 1837 60720 SH SOLE 60720 0 0 CUMMINS INC COM 231021106 2175 18120 SH SOLE 18120 0 0 DANAHER CORP DEL COM 235851102 410 7325 SH SOLE 4225 0 3100 DEERE & CO COM 244199105 6093 75318 SH SOLE 65668 0 9650 DEVON ENERGY CORP NEW COM 25179M103 4498 63250 SH SOLE 58250 0 5000 DIAGEO P L C SPON ADR NEW 25243Q205 12074 125118 SH SOLE 111218 0 13900 DIAMOND OFFSHORE DRILLING IN COM 25271C102 289 4325 SH SOLE 4325 0 0 DISNEY WALT CO COM DISNEY 254687106 357 8150 SH SOLE 6650 0 1500 DOMINION RES INC VA NEW COM 25746u109 561 10950 SH SOLE 1050 0 9900 DORCHESTER MINERALS LP COM UNIT 25820R105 272 10350 SH SOLE 10350 0 0 DOVER CORP COM 260003108 1051 16700 SH SOLE 13700 0 3000 DU PONT E I DE NEMOURS & CO COM 263534109 2445 46228 SH SOLE 39228 0 7000 DUKE ENERGY CORP NEW COM 26441C105 923 43938 SH SOLE 33138 0 10800 DUPONT PFD B PFD 263534307 1270 12210 SH SOLE 9710 0 2500 E M C CORP MASS COM 268648102 227 7585 SH SOLE 2085 0 5500 EATON CORP COM 278058102 1713 34385 SH SOLE 30735 0 3650 EL PASO PIPELINE PARTNERS L COM UNIT LPI 283702108 4261 122120 SH SOLE 115920 0 6200 EMERSON ELEC CO COM 291011104 11519 220752 SH SOLE 194752 0 26000 ENBRIDGE ENERGY PARTNERS L P COM 29250R106 2470 79762 SH SOLE 71712 0 8050 ENBRIDGE INC COM 29250N105 426 10970 SH SOLE 10970 0 0 ENSCO PLC SPONSORED ADR 29358Q109 971 18340 SH SOLE 16690 0 1650 ENTERPRISE PRODS PARTNERS L COM 293792107 16114 319286 SH SOLE 302586 0 16700 EOG RES INC COM 26875p101 3421 30795 SH SOLE 28545 0 2250 EV ENERGY PARTNERS LP COM UNITS 26926v107 744 10690 SH SOLE 8890 0 1800 EXXON MOBIL CORP COM 30231g102 18028 207859 SH SOLE 184521 0 23338 FLUOR CORP NEW COM 343412102 759 12636 SH SOLE 12636 0 0 FRANKLIN RES INC COM 354613101 484 3905 SH SOLE 2755 0 1150 FREEPORT-MCMORAN COPPER & GO COM 35671d857 2672 70254 SH SOLE 63994 0 6260 GENERAL ELECTRIC CO COM 369604103 8499 423470 SH SOLE 392870 0 30600 GENERAL MLS INC COM 370334104 2435 61730 SH SOLE 42030 0 19700 GOLAR LNG PARTNERS LP COM UNIT LPI Y2745C102 3495 94160 SH SOLE 80060 0 14100 GOLDCORP INC NEW COM 380956409 748 16600 SH SOLE 13000 0 3600 HERSHEY CO COM 427866108 354 5765 SH SOLE 4565 0 1200 HESS CORP COM 42809H107 580 9842 SH SOLE 7292 0 2550 HONEYWELL INTL INC COM 438516106 8914 146004 SH SOLE 136954 0 9050 INTEL CORP COM 458140100 6763 240547 SH SOLE 220547 0 20000 INTERNATIONAL BUSINESS MACHS COM 459200101 811 3886 SH SOLE 3886 0 0 INTREPID POTASH INC COM 46121Y102 311 12782 SH SOLE 12782 0 0 ISHARES INC MSCI AUSTRALIA 464286103 2170 92285 SH SOLE 69535 0 22750 ISHARES INC MSCI BRAZIL 464286400 2559 39583 SH SOLE 39083 0 500 ISHARES INC MSCI CDA INDEX 464286509 1220 43045 SH SOLE 37045 0 6000 ISHARES TR BARCLYS 1-3 YR 464287457 396 4700 SH SOLE 0 0 4700 ISHARES TR BARCLYS TIPS BD 464287176 271 2300 SH SOLE 200 0 2100 ISHARES TR DJ OIL EQUIP 464288844 879 16425 SH SOLE 15225 0 1200 ISHARES TR FTSE CHINA25 IDX 464287184 1443 39350 SH SOLE 39350 0 0 ISHARES TR RUSSELL 2000 464287655 306 3693 SH SOLE 3693 0 0 JOHNSON & JOHNSON COM 478160104 9313 141191 SH SOLE 124391 0 16800 JOHNSON CTLS INC COM 478366107 653 20090 SH SOLE 20090 0 0 JP MORGAN CHASE CAP XX1X PFD 48125E207 690 27000 SH SOLE 19000 0 8000 JPMORGAN CHASE 46625HCY4 178 180000 PRN SOLE 0 0 180000 JPMORGAN CHASE & CO COM 46625H100 7585 164967 SH SOLE 149817 0 15150 KIMBERLY CLARK CORP COM 494368103 786 10640 SH SOLE 9640 0 1000 KINDER MORGAN ENERGY PARTNER UT LTD PARTNER 494550106 13210 159638 SH SOLE 155488 0 4150 KINDER MORGAN INC DEL COM 49456B101 1353 35015 SH SOLE 30315 0 4700 KIRBY CORP COM 497266106 395 6000 SH SOLE 6000 0 0 KRAFT FOODS INC CL A 50075n104 2816 74097 SH SOLE 68097 0 6000 LILLY ELI & CO COM 532457108 2741 68070 SH SOLE 60970 0 7100 LINN ENERGY LLC UNIT LTD LIAB 536020100 3534 92645 SH SOLE 84695 0 7950 LONE PINE RES INC COM 54222a106 136 20955 SH SOLE 20205 0 750 MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 7385 102091 SH SOLE 97016 0 5075 MAGNA INTL INC COM 559222401 215 4500 SH SOLE 0 0 4500 MARATHON OIL CORP COM 565849106 608 19175 SH SOLE 14675 0 4500 MARATHON PETE CORP COM 56585a102 204 4700 SH SOLE 1200 0 3500 MARKET VECTORS ETF TR AGRIBUS ETF 57060u605 349 6605 SH SOLE 6605 0 0 MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 695 14025 SH SOLE 14025 0 0 MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 1827 31250 SH SOLE 27050 0 4200 MARSH & MCLENNAN COS INC COM 571748102 492 15000 SH SOLE 15000 0 0 MCDONALDS CORP COM 580135101 7638 77864 SH SOLE 75164 0 2700 MERCK & CO INC NEW COM 58933y105 4538 118186 SH SOLE 109236 0 8950 METLIFE INC COM 59156r108 232 6200 SH SOLE 0 0 6200 METLIFE PFD PFD 59156R603 872 34450 SH SOLE 26450 0 8000 MOSAIC CO NEW COM 61945c103 763 13793 SH SOLE 13793 0 0 NATIONAL GRID PLC SPON ADR NEW 636274300 709 14055 SH SOLE 14055 0 0 NATIONAL OILWELL VARCO INC COM 637071101 2179 27420 SH SOLE 25720 0 1700 NESTLE COM 641069406 7900 125717 SH SOLE 116067 0 9650 NEWMONT MINING CORP COM 651639106 993 19370 SH SOLE 17970 0 1400 NEXTERA ENERGY CAPITAL HLDGS C PFD 65339K506 1376 48967 SH SOLE 41967 0 7000 NEXTERA ENERGY INC COM 65339F101 694 11364 SH SOLE 11364 0 0 NIKE INC CL B 654106103 492 4540 SH SOLE 3040 0 1500 NORFOLK SOUTHERN CORP COM 655844108 2077 31548 SH SOLE 29048 0 2500 NOVARTIS A G SPONSORED ADR 66987V109 1537 27736 SH SOLE 22736 0 5000 NUSTAR ENERGY LP UNIT COM 67058h102 1035 17515 SH SOLE 15315 0 2200 NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 225 6500 SH SOLE 3500 0 3000 OCCIDENTAL PETE CORP DEL COM 674599105 7930 83276 SH SOLE 79276 0 4000 ONEOK PARTNERS LP UNIT LTD PARTN 68268n103 7725 141307 SH SOLE 141307 0 0 PARKER HANNIFIN CORP COM 701094104 261 3090 SH SOLE 3090 0 0 PEPSICO INC COM 713448108 10215 153957 SH SOLE 134407 0 19550 PETROCHINA CO LTD SPONSORED ADR 71646e100 2625 18679 SH SOLE 18029 0 650 PFIZER INC COM 717081103 961 42454 SH SOLE 30654 0 11800 PHILIP MORRIS INTL INC COM 718172109 16957 191365 SH SOLE 184215 0 7150 PIMCO ETF TR 1-5 US TIP IDX 72201r205 270 5000 SH SOLE 0 0 5000 PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 13035 166155 SH SOLE 158305 0 7850 PNC FINL SVCS GROUP INC COM 693475105 2135 33100 SH SOLE 28300 0 4800 POTASH CORP SASK INC COM 73755L107 401 8775 SH SOLE 6675 0 2100 POWERSHARES QQQ TRUST UNIT SER 1 73935a104 4599 68089 SH SOLE 68089 0 0 PRAXAIR INC COM 74005P104 607 5291 SH SOLE 4141 0 1150 PRICE T ROWE GROUP INC COM 74144t108 566 8661 SH SOLE 6661 0 2000 PROCTER & GAMBLE CO COM 742718109 6858 102045 SH SOLE 92545 0 9500 PROSPERITY BANCSHARES INC COM 743606105 292 6365 SH SOLE 6365 0 0 PUBLIC STORAGE PFD Q PFD 74460D141 945 34400 SH SOLE 26900 0 7500 QUALCOMM INC COM 747525103 7002 102885 SH SOLE 78935 0 23950 REPUBLIC OF TEXAS BRANDS COM 760826107 0 15000 SH SOLE 15000 0 0 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 4787 68252 SH SOLE 63752 0 4500 SABINE ROYALTY TR UNIT BEN INT 785688102 254 4224 SH SOLE 4224 0 0 SANOFI SPONSORED ADR 80105N105 1496 38605 SH SOLE 33505 0 5100 SCHLUMBERGER LTD COM 806857108 4816 68873 SH SOLE 60423 0 8450 SEADRILL LIMITED SHS g7945e105 4352 116035 SH SOLE 110635 0 5400 SIEMENS A G SPONSORED ADR 826197501 681 6750 SH SOLE 5300 0 1450 SPDR GOLD TRUST GOLD SHS 78463v107 1020 6289 SH SOLE 6289 0 0 SPDR S&P 500 ETF TR TR UNIT 78462F103 2613 18557 SH SOLE 18557 0 0 SPECTRA ENERGY CORP COM 847560109 617 19564 SH SOLE 14164 0 5400 SPECTRA ENERGY PARTNERS LP COM 84756N109 291 9100 SH SOLE 9100 0 0 STATOIL ASA SPONSORED ADR 85771P102 1105 40775 SH SOLE 32075 0 8700 TARGA RES CORP COM 87612g101 648 14250 SH SOLE 14250 0 0 TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 1779 42900 SH SOLE 40900 0 2000 TECK RESOURCES LTD CL B 878742204 272 7640 SH SOLE 7140 0 500 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1163 25811 SH SOLE 22486 0 3325 TIMKEN CO COM 887389104 965 19025 SH SOLE 18025 0 1000 TOTAL S A SPONSORED ADR 89151e109 484 9472 SH SOLE 9472 0 0 UNILEVER N V N Y SHS NEW 904784709 1301 38235 SH SOLE 27535 0 10700 UNION PAC CORP COM 907818108 2284 21249 SH SOLE 18899 0 2350 UNITED PARCEL SERVICE INC CL B 911312106 1870 23163 SH SOLE 21413 0 1750 UNITED TECHNOLOGIES CORP COM 913017109 4463 53804 SH SOLE 50454 0 3350 US BANCORP DEL COM NEW 902973304 275 8675 SH SOLE 5675 0 3000 US BANCORP PFD L PFD 902973882 339 12625 SH SOLE 12625 0 0 V F CORP COM 918204108 339 2319 SH SOLE 2319 0 0 VALERO ENERGY CORP NEW COM 91913Y100 294 11418 SH SOLE 5018 0 6400 VARIAN MED SYS INC COM 92220P105 1092 15835 SH SOLE 13335 0 2500 VERIZON COMMUNICATIONS INC COM 92343v104 412 10775 SH SOLE 6025 0 4750 WEINGARTEN RLTY INVS SH BEN INT 948741103 353 13362 SH SOLE 13362 0 0 WELLS FARGO & CO NEW COM 949746101 4288 125610 SH SOLE 114935 0 10675 WELLS FARGO & CO NEW PERP PFD CNV A 949746804 2943 2635 SH SOLE 2535 0 100 WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 283 6125 SH SOLE 6125 0 0 WESTPAC BKG CORP SPONSORED ADR 961214301 1738 15280 SH SOLE 14980 0 300 WHITING PETE CORP NEW COM 966387102 687 12655 SH SOLE 10880 0 1775 XCEL ENERGY INC COM 98389B100 222 8400 SH SOLE 8400 0 0 XILINX INC COM 983919101 937 25675 SH SOLE 21175 0 4500 YUM BRANDS INC COM 988498101 6201 87111 SH SOLE 82261 0 4850