-----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, UAM5iRpsosjikUIw0uNJtFMCZdOGY8Qzxma5zQKLZqWIxHziBCPB403MX4FfzXEl S+lRj17Mie4CfzeebCeq/w== 0001010521-10-000331.txt : 20100813 0001010521-10-000331.hdr.sgml : 20100813 20100813114127 ACCESSION NUMBER: 0001010521-10-000331 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100630 FILED AS OF DATE: 20100813 DATE AS OF CHANGE: 20100813 EFFECTIVENESS DATE: 20100813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MFC GLOBAL INVESTMENT MANAGEMENT (U.S.), LLC CENTRAL INDEX KEY: 0001034182 IRS NUMBER: 043168979 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-03673 FILM NUMBER: 101013803 BUSINESS ADDRESS: STREET 1: 101 HUNTINGTON AVE CITY: BOSTON STATE: MA ZIP: 02199 BUSINESS PHONE: 617-375-1500 MAIL ADDRESS: STREET 1: 101 HUNTINGTON AVENUE CITY: BOSTON STATE: MA ZIP: 02199 FORMER COMPANY: FORMER CONFORMED NAME: SOVEREIGN ASSET MANAGEMENT CORP/MA DATE OF NAME CHANGE: 19990329 13F-HR 1 mfcglobalus13f.txt MFC GLOBAL INVESTMENT MANAGEMENT (U.S.), LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2010 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: MFC Global Investment Management (U.S), LLC Address: 101 Huntington Avenue Boston, MA 02199
13F File Number: 28-03673 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: Barry Evans Title: President Phone: (617) 375-1500 Signature, Place, and Date of Signing: /s/ Barry Evans Boston, MA August 10, 2010 - -------------------------------------------------------------------------- Signature Place Date
Report Type (Check only One): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of other managers reporting for this manager: None
FORM 13F SUMMARY PAGE Report Summary: Number of other included managers: 3 Form 13F information table entry total: 753 Form 13F information table value total: $10,800,581 (thousands) List of other included managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 28-11519 Manulife Financial Corporation 2 28-03983 John Hancock Life Insurance Company [U.S.A.] 3 28-04428 The Manufacturers Life Insurance Company
NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE ABB Ltd.-Spon ADR ADR 000375204 32,102 1,857,772 X 1, 2 1,857,772 0 0 Air France-KLM ADR 009119108 2,095 174,118 X 1, 2 174,118 0 0 BP PLC ADR 055622104 9,704 336,000 X 1, 2 336,000 0 0 Baidu.com Inc ADR 056752108 554 8,140 X 1, 2 8,140 0 0 CREDIT SUISSE GROUP - ADR ADR 225401108 1,723 46,035 X 1, 2 46,035 0 0 Deutsche Telekom ADR 251566105 20,339 1,707,929 X 1, 2 1,707,929 0 0 MINDRAY MEDICAL INTL LTD-ADR ADR 602675100 440 14,000 X 1, 2 14,000 0 0 OGX PETROLEO E-SPON ADR ADR 670849108 534 56,231 X 1, 2 56,231 0 0 Royal Dutch Shell PLC-ADR ADR 780259206 31,409 625,422 X 1, 2 592,013 180 33,229 Teva Pharmaceutical Industries ADR 881624209 12,045 231,688 X 1, 2 218,720 0 12,968 Total SA ADR 89151E109 9,528 213,443 X 1, 2 206,678 0 6,765 China Real Estate Infrm Corp-ADR ADR 16948Q103 113 14,177 X 1, 2 14,177 0 0 CHUNGHWA TELCM LTD-ADR-WI ADR 17133Q106 830 42,164 X 1, 2 42,164 0 0 Cia Saneamento Basico De-ADR ADR 20441A102 41 988 X 1, 2 988 0 0 ENSCO PLC-SPON ADR ADR 29358Q109 1,002 25,521 X 1, 2 25,521 0 0 FRANCE TELCM SA - SPNS ADR ADR 35177Q105 21,513 1,242,836 X 1, 2 1,242,836 0 0 GlaxoSmithKline plc ADR 37733W105 6 165 X 1, 2 165 0 0 Petroleo Brasileiro SA-ADR ADR 71654V408 288 8,399 X 1, 2 8,399 0 0 7 Days Group Holdings Ltd ADR 81783J101 120 11,029 X 1, 2 11,029 0 0 Shire LTD ADR ADR 82481R106 1,453 23,666 X 1, 2 23,666 0 0 XINYUAN REAL ESTAT CO L-ADR ADR 98417P105 428 180,000 X 1, 2 180,000 0 0 100,000THS FIRST HORI COM DCA517101 0 45,924 X 1, 2 45,924 0 0 100,000THS MARRIOTT I COM FHB903208 0 151,745 X 1, 2 151,745 0 0 AUTOMATIC DATA PROCES COM 053015103 844 20,975 X 1, 2 5,960 0 15,015 CLIFFS NATURAL RESOUR COM 18683K101 295 6,250 X 1, 2 6,250 0 0 COLGATE PALMOLIVE CO COM 194162103 1,078 13,687 X 1, 2 5,514 0 8,173 DANAHER CORP COM 235851102 26,612 699,349 X 1, 2 652,322 260 46,767 DIAGEO PLC ADR SPONSO COM 25243Q205 488 7,780 X 1, 2 3,465 0 4,315 FIRST NIAGARA FINL GR COM 33582V108 175 13,936 X 1, 2 3,021 0 10,915 MAXIM INTEGRATED PROD COM 57772K101 220 13,150 X 1, 2 13,150 0 0 MCGRAW-HILL COMPANIES COM 580645109 420 14,910 X 1, 2 4,415 0 10,495 NORTEL NETWORKS CORP COM 656568508 1 30,000 X 1, 2 30,000 0 0 ORACLE SYS CORP COM 68389X105 646 30,114 X 1, 2 11,490 0 18,624 PINNACLE BANKSHARES C COM 72345E102 175 22,338 X 1, 2 22,338 0 0
Page 1 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE SYSCO CORP COM 871829107 325 11,380 X 1, 2 2,035 0 9,345 WAL MART STORES INC COM 931142103 700 14,565 X 1, 2 4,229 0 10,336 AAR Corp COM 000361105 5 315 X 1, 2 315 0 0 Aflac Inc. COM 001055102 5,224 122,424 X 1, 2 118,650 0 3,774 App China Group COM 002023992 0 37,717 X 1, 2 37,717 0 0 Abbott Laboratories COM 002824100 77,410 1,654,757 X 1, 2 1,601,491 175 53,091 Agnico-Eagle Mines Ltd COM 008474108 231 3,800 X 1, 2 3,800 0 0 Alberto-Culver Co COM 013078100 426 15,725 X 1, 2 15,725 0 0 Alexion Pharmaceuticals Inc COM 015351109 626 12,222 X 1, 2 12,222 0 0 Align Technology Inc. COM 016255101 7,390 496,967 X 1, 2 496,967 0 0 Alliant Energy Corp. COM 018802108 14,204 447,520 X 1, 2 447,520 0 0 Ameren Corp COM 023608102 15,094 635,000 X 1, 2 635,000 0 0 American Electric Power Co Inc COM 025537101 26,325 815,000 X 1, 2 815,000 0 0 American Express Co COM 025816109 6,157 155,076 X 1, 2 155,076 0 0 American International Group Inc COM 026874784 3 100 X 1, 2 100 0 0 American Pacific Corp. COM 028740108 1,253 249,650 X 1, 2 249,650 0 0 American Physicians Capital Inc COM 028884104 8,843 286,643 X 1, 2 286,643 0 0 American Tower Corp COM 029912201 949 21,333 X 1, 2 21,333 0 0 American Water Works Co Inc COM 030420103 54,931 2,666,550 X 1, 2 2,666,550 0 0 Amgen Inc COM 031162100 84,968 1,615,355 X 1, 2 1,615,355 0 0 Amphenol Corp COM 032095101 886 22,565 X 1, 2 22,565 0 0 Anadarko Petroleum Corp COM 032511107 541 15,000 X 1, 2 15,000 0 0 Analog Devices Inc. COM 032654105 17,826 639,839 X 1, 2 597,173 250 42,416 AON Corp COM 037389103 2,827 76,163 X 1, 2 76,163 0 0 Apple Inc COM 037833100 76,992 306,094 X 1, 2 306,094 0 0 Applied Extrusion Tech - Class A COM 038196200 400 51,082 X 1, 2 51,082 0 0 Archer-Daniels-Midland Co. COM 039483102 49,401 1,913,296 X 1, 2 1,913,296 0 0 ARTHROCARE CORP COM 043136100 3,643 118,870 X 1, 2 118,870 0 0 ATLAS AIR WORLDWIDE HLDNGS COM 049164205 3,839 80,827 X 1, 2 80,827 0 0 Atlas Energy Inc COM 049298102 3,316 122,498 X 1, 2 122,498 0 0 Atmos Energy Corp COM 049560105 23,930 885,000 X 1, 2 885,000 0 0 Atwood Oceanics Inc COM 050095108 3,062 120,000 X 1, 2 120,000 0 0 Autoliv Inc COM 052800109 7 150 X 1, 2 150 0 0 AVON PRODUCTS INC COM 054303102 30,062 1,134,418 X 1, 2 1,077,456 325 56,637
Page 2 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE BB&T Corp COM 054937107 41,577 1,580,262 X 1, 2 1,570,854 0 9,408 BJ Services Co. COM 055482103 464 20,000 X 1, 2 20,000 0 0 BAKER HUGES INC. COM 057224107 34,177 822,166 X 1, 2 822,166 0 0 Bank of America Corp COM 060505104 174,517 12,144,542 X 1, 2 12,130,973 0 13,569 BANK OF HAWAII COM 062540109 7 136 X 1, 2 136 0 0 Bank of Marin Bancorp/CA COM 063425102 1,841 57,668 X 1, 2 57,668 0 0 BAR HARBOR BANKSHARES COM 066849100 1,873 75,000 X 1, 2 75,000 0 0 Barrick Gold Corp COM 067901108 102,102 2,248,449 X 1, 2 2,248,449 0 0 Becton Dickinson & Co COM 075887109 28,494 421,386 X 1, 2 401,500 115 19,771 Bemis Co Inc COM 081437105 7 270 X 1, 2 270 0 0 Berkshire Hathaway Inc-Cl A COM 084670108 4,440 37 X 1, 2 37 0 0 BERKSHIRE HATHAWAY INC-CL B COM 084670702 59,346 744,714 X 1, 2 744,714 0 0 Berkshire Hills Bancorp COM 084680107 14,511 744,937 X 1, 2 744,937 0 0 Best Buy Co Inc COM 086516101 43,388 1,281,390 X 1, 2 1,281,390 0 0 Black Hills Corp COM 092113109 18,648 655,000 X 1, 2 655,000 0 0 Boston Private Financl Hldngs Inc COM 101119105 2,774 431,450 X 1, 2 431,450 0 0 Bridge Capital Holdings COM 108030107 1,370 150,564 X 1, 2 150,564 0 0 Brigham Exploration Co COM 109178103 7,339 477,192 X 1, 2 477,192 0 0 The Brink's Company COM 109696104 1,522 80,000 X 1, 2 80,000 0 0 Broadcom Corp COM 111320107 1,019 30,892 X 1, 2 30,892 0 0 Bryn Mawr Bank Corp. COM 117665109 7,784 463,894 X 1, 2 463,894 0 0 BUCKEYE TECH INC COM 118255108 3,646 366,408 X 1, 2 366,408 0 0 CVB Financial Corp COM 126600105 5,700 600,000 X 1, 2 600,000 0 0 CVS Caremark Corp COM 126650100 1,717 58,568 X 1, 2 58,568 0 0 Cabot Oil & Gas Corporation COM 127097103 2,098 66,992 X 1, 2 66,992 0 0 Camden National Corp. COM 133034108 1,010 36,776 X 1, 2 36,776 0 0 Canadian Natural Resources Ltd COM 136385101 16,144 485,832 X 1, 2 485,832 0 0 Carmax Inc COM 143130102 3,979 199,938 X 1, 2 199,938 0 0 Caterpillar Inc COM 149123101 23,236 386,815 X 1, 2 373,305 85 13,425 CEPHALON INC COM 156708109 33,096 583,191 X 1, 2 583,191 0 0 Chevron Corporation COM 166764100 10,382 152,996 X 1, 2 139,163 0 13,833 Chipotle Mexican Grill-CL A COM 169656105 605 4,422 X 1, 2 4,422 0 0 Chubb Corp COM 171232101 24,580 491,502 X 1, 2 467,896 140 23,466 Church & Dwight Inc COM 171340102 463 7,388 X 1, 2 7,388 0 0
Page 3 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Citigroup Inc COM 172967101 3 785 X 1, 2 785 0 0 City Holding Co COM 177835105 3,973 142,521 X 1, 2 142,521 0 0 CoBiz Financial Inc COM 190897108 1,660 251,920 X 1, 2 251,920 0 0 Comerica Inc COM 200340107 20,096 545,630 X 1, 2 545,630 0 0 Commerce Bancshares Inc COM 200525103 20,370 565,981 X 1, 2 565,981 0 0 Comtech Telecommunications COM 205826209 3,481 116,321 X 1, 2 116,321 0 0 Conceptus Inc COM 206016107 3,157 202,630 X 1, 2 202,630 0 0 Concur Technologies Inc COM 206708109 10,356 242,640 X 1, 2 242,640 0 0 Consolidated Edison Inc COM 209115104 17,348 402,500 X 1, 2 402,500 0 0 Constant Contact Inc COM 210313102 8,943 419,263 X 1, 2 419,263 0 0 COOPER TIRE & RUBBER CO COM 216831107 3,123 160,164 X 1, 2 160,164 0 0 Corning Inc COM 219350105 49,615 3,072,130 X 1, 2 3,072,130 0 0 COVENTRY HEALTH CARE INC COM 222862104 1,222 69,105 X 1, 2 69,105 0 0 Cullen/Frost Bankers Inc COM 229899109 80,707 1,570,180 X 1, 2 1,533,935 210 36,035 CUMMINS INC COM 231021106 386 5,925 X 1, 2 5,925 0 0 CYPRESS SEMICONDUCTR CRP COM 232806109 6,835 680,770 X 1, 2 680,770 0 0 DNB Financial Corp. COM 233237106 526 78,515 X 1, 2 78,515 0 0 DTE Energy Co COM 233331107 44,242 970,000 X 1, 2 970,000 0 0 Darden Restaurants Inc COM 237194105 31,724 816,587 X 1, 2 774,176 265 42,146 DEERE AND CO. COM 244199105 28,674 514,973 X 1, 2 514,973 0 0 Delta Air Lines Inc. COM 247361702 102,556 8,728,135 X 1, 2 8,728,135 0 0 Delta Petroleum Corp COM 247907207 1,819 2,115,000 X 1, 2 2,115,000 0 0 Denbury Resources Inc COM 247916208 120,029 8,198,725 X 1, 2 8,198,725 0 0 Dentsply International Inc COM 249030107 25,171 841,574 X 1, 2 791,703 210 49,661 Devry Inc COM 251893103 860 16,385 X 1, 2 16,385 0 0 DICE HOLDINGS INC COM 253017107 2,426 350,575 X 1, 2 350,575 0 0 Dime Community Bancshares COM 253922108 4,988 404,535 X 1, 2 404,535 0 0 DINEEQUITY INC COM 254423106 1,913 68,500 X 1, 2 68,500 0 0 Discover Financial Services COM 254709108 8,202 586,692 X 1, 2 586,692 0 0 Double Eagle Petroleum Co COM 258570209 170 40,000 X 1, 2 40,000 0 0 Du Pont (E.I.) de Nemours & Co COM 263534109 436 12,597 X 1, 2 6,147 0 6,450 ECB Bancorp COM 268253101 321 27,504 X 1, 2 27,504 0 0 EMC Corp/Massachusetts COM 268648102 38,625 2,110,677 X 1, 2 2,110,677 0 0 Exco Resources Inc COM 269279402 438 30,000 X 1, 2 30,000 0 0
Page 4 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Eastern Virginia Bankshares COM 277196101 456 69,998 X 1, 2 69,998 0 0 Eaton Corp COM 278058102 7 100 X 1, 2 100 0 0 Eaton Vance Corp COM 278265103 300 10,862 X 1, 2 10,862 0 0 eBay Inc. COM 278642103 57,248 2,919,336 X 1, 2 2,919,336 0 0 Ecolab Inc. COM 278865100 68,109 1,516,569 X 1, 2 1,516,569 0 0 Emerson Electric Co. COM 291011104 33,721 771,829 X 1, 2 708,660 190 62,979 Encana Corp COM 292505104 929 30,620 X 1, 2 30,620 0 0 Enernoc Inc COM 292764107 6,084 193,518 X 1, 2 193,518 0 0 Euronet Worldwide Inc COM 298736109 851 66,500 X 1, 2 66,500 0 0 Express Scripts Inc. COM 302182100 871 18,524 X 1, 2 18,524 0 0 FMC Corp COM 302491303 424 7,389 X 1, 2 7,389 0 0 FNB Corp COM 302520101 24,405 3,039,206 X 1, 2 3,039,206 0 0 FTI Consulting Inc COM 302941109 7,259 166,529 X 1, 2 166,529 0 0 Federal Mogul Corp. CL A-W/I COM 313549404 879 67,498 X 1, 2 67,498 0 0 Fifth Third Bancorp COM 316773100 11,132 905,800 X 1, 2 905,800 0 0 FIRST ENERGY COM 337932107 11,626 330,000 X 1, 2 330,000 0 0 Flow Intl Corp COM 343468104 4,100 1,737,485 X 1, 2 1,737,485 0 0 Flushing Financial Corp COM 343873105 8,829 721,929 X 1, 2 721,929 0 0 Ford Motor Co COM 345370860 9,609 953,243 X 1, 2 953,243 0 0 FOREST LABORATORIES INC COM 345838106 561 20,469 X 1, 2 20,469 0 0 FOREST OIL CORP COM 346091705 7,250 265,000 X 1, 2 265,000 0 0 Franklin Resources Inc COM 354613101 59,646 692,031 X 1, 2 678,269 85 13,677 Gasco Energy Inc COM 367220100 89 250,000 X 1, 2 250,000 0 0 General Dynamics Corp COM 369550108 4,802 82,000 X 1, 2 82,000 0 0 General Electric Co COM 369604103 22,202 1,539,670 X 1, 2 1,453,466 0 86,204 Gilead Sciences Inc COM 375558103 848 24,739 X 1, 2 24,739 0 0 Glasstech Class B COM 377265707 0 4,430 X 1, 2 4,430 0 0 Glasstech Inc Cl C COM 377265806 0 10 X 1, 2 10 0 0 Global Industries Ltd COM 379336100 225 50,000 X 1, 2 50,000 0 0 Goldcorp Inc COM 380956409 269 6,142 X 1, 2 6,142 0 0 GRAHAM CORP COM 384556106 4,011 267,571 X 1, 2 267,571 0 0 GRAHAM PACKAGING CO INC COM 384701108 12,982 1,084,542 X 1, 2 1,084,542 0 0 Granite Broadcasting Corp. COM 387241805 0 11,688 X 1, 2 11,688 0 0 Great Plains Energy Inc COM 391164100 681 40,000 X 1, 2 40,000 0 0
Page 5 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE GREEKTOWN SPRHLDNGS COM COM 392485108 4,669 42,224 X 1, 2 42,224 0 0 Greenhill & Co Inc COM 395259104 274 4,478 X 1, 2 4,478 0 0 Gulfport Energy Corp COM 402635304 593 50,000 X 1, 2 50,000 0 0 Hancock Holding Co COM 410120109 23,282 697,914 X 1, 2 697,914 0 0 Hansen Natural Corp COM 411310105 611 15,610 X 1, 2 15,610 0 0 HARRIS & HARRIS GROUP INC COM 413833104 1,869 456,986 X 1, 2 456,986 0 0 Hasbro Inc COM 418056107 893 21,732 X 1, 2 21,732 0 0 HELMERICH & PAYNE COM 423452101 20,119 550,900 X 1, 2 523,480 170 27,250 Hewlett-Packard Co COM 428236103 27,069 625,447 X 1, 2 610,662 0 14,785 Hingham Institution for Savings COM 433323102 2,954 80,000 X 1, 2 80,000 0 0 Hologic Inc COM 436440101 11,550 829,164 X 1, 2 829,164 0 0 Home Depot Inc COM 437076102 5 185 X 1, 2 185 0 0 Honeywell International Inc COM 438516106 39,602 1,014,666 X 1, 2 1,014,666 0 0 Hudson City Bancorp Inc COM 443683107 14,643 1,195,368 X 1, 2 1,119,630 440 75,298 Huntsman Corp COM 447011107 5 550 X 1, 2 550 0 0 Hydril COM 448774109 0 22,536 X 1, 2 22,536 0 0 IBERIABANK Corporation COM 450828108 26,173 508,417 X 1, 2 508,417 0 0 IAMGOLD Corp. COM 450913108 403 22,822 X 1, 2 22,822 0 0 ICONIX BRAND GROUP INC COM 451055107 12,186 848,000 X 1, 2 848,000 0 0 IHS Inc.-Class A COM 451734107 512 8,762 X 1, 2 8,762 0 0 ILLINOIS TOOL WORKS INC COM 452308109 61,532 1,490,604 X 1, 2 1,443,723 205 46,676 Independent Bank Corp. -Mass COM 453836108 21,171 857,830 X 1, 2 857,830 0 0 Inspire Pharmaceuticals Inc. COM 457733103 4,012 804,100 X 1, 2 804,100 0 0 Intel Corp COM 458140100 46,916 2,412,127 X 1, 2 2,302,221 465 109,441 INTL ASSETS HOLDING CORP COM 459028106 6,182 386,395 X 1, 2 386,395 0 0 International Business Mchns Corp COM 459200101 51,577 417,693 X 1, 2 389,379 100 28,214 Irobot Corp COM 462726100 7,164 381,269 X 1, 2 381,269 0 0 Isis Pharmaceuticals Inc COM 464330109 2,231 233,118 X 1, 2 233,118 0 0 Itron Inc COM 465741106 210 3,404 X 1, 2 3,404 0 0 Ivanhoe Energy Inc COM 465790103 188 100,000 X 1, 2 100,000 0 0 Johnson & Johnson COM 478160104 38,447 650,977 X 1, 2 602,645 150 48,182 KBW Inc COM 482423100 3,877 180,822 X 1, 2 180,822 0 0 Kaiser Group Holdings Inc COM 483059101 2,254 81,949 X 1, 2 81,949 0 0 Kansas City Southern Industry COM 485170302 431 11,850 X 1, 2 11,850 0 0
Page 6 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Key Energy Services Inc COM 492914106 367 40,000 X 1, 2 40,000 0 0 Keycorp COM 493267108 25,428 3,306,568 X 1, 2 3,306,568 0 0 Knight Capital Group Inc COM 499005106 1,264 91,653 X 1, 2 91,653 0 0 Knot Inc (The) COM 499184109 5,044 648,288 X 1, 2 648,288 0 0 KROGER CO COM 501044101 29,910 1,519,020 X 1, 2 1,519,020 0 0 LSB Industries Inc. COM 502160104 4,574 343,650 X 1, 2 343,650 0 0 Lakeland Financial Corp COM 511656100 7,888 394,802 X 1, 2 394,802 0 0 LEAR CORP - W/I COM 521865204 40,581 613,012 X 1, 2 613,012 0 0 Leggett & Platt Inc. COM 524660107 8 385 X 1, 2 385 0 0 LENNAR CORP COM 526057104 4,673 335,931 X 1, 2 335,931 0 0 LIBERTY GLOBAL INC - A COM 530555101 5,770 222,000 X 1, 2 222,000 0 0 Eli Lilly & Co COM 532457108 874 26,083 X 1, 2 26,083 0 0 LINCARE HOLDINGS COM 532791100 1,115 34,289 X 1, 2 34,289 0 0 Linear Technology Corp. COM 535678106 13,140 472,500 X 1, 2 472,500 0 0 Lone Star Technologies COM 542312103 0 13,450 X 1, 2 13,450 0 0 LOUISIANA PAC CORP COM 546347105 1,846 276,000 X 1, 2 276,000 0 0 Lowe's Companies COM 548661107 5,493 269,000 X 1, 2 269,000 0 0 Lubrizol Corp COM 549271104 599 7,464 X 1, 2 7,464 0 0 MDC HOLDINGS INC COM 552676108 13,610 505,000 X 1, 2 505,000 0 0 MDC Partners Inc COM 552697104 7,925 742,044 X 1, 2 742,044 0 0 MRV Communications Inc. COM 553477100 1,936 1,488,900 X 1, 2 1,488,900 0 0 MTR Gaming Group COM 553769100 3 1,800 X 1, 2 1,800 0 0 Manitoba Telecom Services Inc COM 563486109 24 910 X 1, 2 910 0 0 Marriott International Inc/DE COM 571903202 4,802 160,391 X 1, 2 160,391 0 0 MATTEL INC COM 577081102 5 235 X 1, 2 235 0 0 MAXIMUS INC COM 577933104 773 13,352 X 1, 2 13,352 0 0 McDermott International Inc COM 580037109 612 28,246 X 1, 2 28,246 0 0 McDonald's Corp COM 580135101 61,190 928,947 X 1, 2 911,223 105 17,619 Medtronic Inc. COM 585055106 21,166 576,433 X 1, 2 539,238 160 37,035 Microsoft Corp COM 594918104 197,168 8,568,804 X 1, 2 8,441,478 485 126,841 Microchip Technology Inc COM 595017104 529 19,060 X 1, 2 5,325 0 13,735 Minefinders Corp. COM 602900102 1,693 190,000 X 1, 2 190,000 0 0 MONSTER WORLDWIDE INC COM 611742107 292 25,065 X 1, 2 25,065 0 0 Morgan Stanley COM 617446448 36,797 1,585,409 X 1, 2 1,585,409 0 0
Page 7 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Mylan Laboratories COM 628530107 541 31,744 X 1, 2 31,744 0 0 New York Cmnty Bancorp Inc COM 649445103 7 475 X 1, 2 475 0 0 Newfield Exploration Co COM 651290108 1,700 34,798 X 1, 2 34,798 0 0 Newmont Mining Corp COM 651639106 3,951 64,000 X 1, 2 64,000 0 0 Nike Inc COM 654106103 50,019 740,475 X 1, 2 740,475 0 0 Northeast Community Bancorp COM 664112109 3,634 634,262 X 1, 2 634,262 0 0 Northeast Utilities COM 664397106 8,854 347,500 X 1, 2 347,500 0 0 Northern Trust Corp COM 665859104 7,991 171,104 X 1, 2 171,104 0 0 Northrim Bancorp Inc COM 666762109 1,196 77,232 X 1, 2 77,232 0 0 Northwest Natural Gas Co COM 667655104 5,773 132,500 X 1, 2 132,500 0 0 Nucor Corp COM 670346105 28,474 743,822 X 1, 2 710,767 195 32,860 NuVasive Inc COM 670704105 4,827 136,115 X 1, 2 136,115 0 0 OGE Energy Corp. COM 670837103 37,108 1,015,000 X 1, 2 1,015,000 0 0 Occidental Petroleum Corp COM 674599105 31,443 407,561 X 1, 2 393,604 85 13,872 OLD REPUBLIC INTERNATIONAL COM 680223104 4,061 334,826 X 1, 2 334,826 0 0 OMNICARE INC COM 681904108 1,391 58,686 X 1, 2 58,686 0 0 Oneok Inc COM 682680103 24,004 555,000 X 1, 2 555,000 0 0 Owens-Illinois Inc COM 690768403 28,386 1,073,194 X 1, 2 1,073,194 0 0 Pico Holdings Inc COM 693366205 13,157 439,000 X 1, 2 439,000 0 0 PNC Financial Services Group Inc COM 693475105 65,778 1,164,217 X 1, 2 1,163,687 0 530 PPG Industries Inc COM 693506107 5 90 X 1, 2 90 0 0 PACKAGING CORP OF AMERICA COM 695156109 993 45,118 X 1, 2 45,118 0 0 Pactiv Corporation COM 695257105 1,393 50,000 X 1, 2 50,000 0 0 PALL CORP COM 696429307 314 9,125 X 1, 2 9,125 0 0 Patterson-UTI Energy Inc COM 703481101 480 37,286 X 1, 2 37,286 0 0 Paychex Inc COM 704326107 3,899 150,145 X 1, 2 150,145 0 0 PENN NATL GAMING INC COM 707569109 4,252 184,083 X 1, 2 184,083 0 0 PENN VIRGINIA CORP COM 707882106 5,510 274,000 X 1, 2 274,000 0 0 People's United Financial Inc COM 712704105 14,897 1,103,508 X 1, 2 1,103,508 0 0 Pepsico Inc COM 713448108 49,847 817,828 X 1, 2 764,353 195 53,280 Pfizer Inc COM 717081103 138,359 9,702,600 X 1, 2 9,702,600 0 0 Philip Morris Internat-W/I COM 718172109 10,471 228,415 X 1, 2 218,965 0 9,450 PHILLIPS-VAN HEUSEN COM 718592108 570 12,327 X 1, 2 12,327 0 0 Pinnacle Airlines Corp COM 723443107 4,153 763,483 X 1, 2 763,483 0 0
Page 8 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Pinnacle West Capital Corp. COM 723484101 7,817 215,000 X 1, 2 215,000 0 0 Pioneer Natural Resources Co COM 723787107 1,978 33,264 X 1, 2 33,264 0 0 Plains Exploration & Product Co COM 726505100 8,233 399,457 X 1, 2 399,457 0 0 PRECISION CASTPARTS CORP COM 740189105 731 7,099 X 1, 2 7,099 0 0 Procter & Gamble Co COM 742718109 87,088 1,451,957 X 1, 2 1,423,419 140 28,398 Progress Energy Inc COM 743263105 41,231 1,051,275 X 1, 2 1,051,275 0 0 Progressive Corp COM 743315103 4,358 232,793 X 1, 2 232,793 0 0 Prosperity Bancshares Inc COM 743606105 9,917 285,382 X 1, 2 285,382 0 0 Prudential Financial Inc COM 744320102 65,101 1,213,216 X 1, 2 1,213,216 0 0 Public Service Enterprise Group COM 744573106 15,038 480,000 X 1, 2 480,000 0 0 Pulte Group Inc COM 745867101 42,457 5,127,705 X 1, 2 5,127,705 0 0 Qualcomm Inc COM 747525103 113,744 3,463,589 X 1, 2 3,415,959 225 47,405 QUANTEX BUILDING PRODUCTS COM 747619104 3,756 217,209 X 1, 2 217,209 0 0 Questar Corp. COM 748356102 35,797 786,914 X 1, 2 752,143 180 34,591 RALCORP HOLDINGS INC COM 751028101 15,866 289,527 X 1, 2 289,527 0 0 RED HAT INC COM 756577102 536 18,512 X 1, 2 18,512 0 0 Republic Services Inc. COM 760759100 104,068 3,500,440 X 1, 2 3,500,440 0 0 Rex Energy Corp. COM 761565100 4,899 485,081 X 1, 2 485,081 0 0 RITE AID CORP COM 767754104 804 820,000 X 1, 2 820,000 0 0 Rosetta Stone Inc. COM 777780107 6,667 290,393 X 1, 2 290,393 0 0 Royal Gold Inc. COM 780287108 1,920 40,000 X 1, 2 40,000 0 0 S&T Bancorp Inc COM 783859101 2,372 120,060 X 1, 2 120,060 0 0 SEI Investments COM 784117103 919 45,142 X 1, 2 45,142 0 0 SY Bancorp Inc COM 785060104 2,022 88,010 X 1, 2 88,010 0 0 Schlumberger Ltd COM 806857108 814 14,717 X 1, 2 11,692 0 3,025 Charles Schwab Corp COM 808513105 112,325 7,921,362 X 1, 2 7,824,464 505 96,393 SCHWEITZER-MAUDUIT INTL INC COM 808541106 3,305 65,519 X 1, 2 65,519 0 0 Sharps Compliance Corp COM 820017101 1,138 247,479 X 1, 2 247,479 0 0 Silicon Laboratories Inc COM 826919102 8,262 203,701 X 1, 2 203,701 0 0 Silver Wheaton Corp. COM 828336107 151 7,490 X 1, 2 7,490 0 0 Skechers USA Inc-CL A COM 830566105 5,731 156,928 X 1, 2 156,928 0 0 Southern Co/The COM 842587107 17,201 516,867 X 1, 2 516,867 0 0 Southwestern Energy Co COM 845467109 72,028 1,864,078 X 1, 2 1,864,078 0 0 Spectra Energy Corp-W/I COM 847560109 26,593 1,325,000 X 1, 2 1,325,000 0 0
Page 9 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Sprint Nextel Corporation COM 852061100 7 1,725 X 1, 2 1,725 0 0 State Street Corp COM 857477103 63,162 1,867,598 X 1, 2 1,854,543 0 13,055 STEELCASE INC-CL A COM 858155203 4,168 537,757 X 1, 2 537,757 0 0 Stryker Corp. COM 863667101 581 11,597 X 1, 2 11,597 0 0 Suncor Energy Inc COM 867224107 136,102 4,623,041 X 1, 2 4,623,041 0 0 Suntrust Banks Inc COM 867914103 22,749 976,345 X 1, 2 976,345 0 0 TCF Financial Corp. COM 872275102 41,163 2,478,219 X 1, 2 2,478,219 0 0 Teco Energy Inc. COM 872375100 14,434 957,800 X 1, 2 957,800 0 0 TJX Companies Inc. COM 872540109 30,173 719,267 X 1, 2 687,281 170 31,816 Tenneco Inc COM 880349105 19 894 X 1, 2 894 0 0 TEXAS INSTRUMENTS INC COM 882508104 23,057 989,973 X 1, 2 932,282 280 57,411 Thoratec Corp COM 885175307 5,882 137,661 X 1, 2 137,661 0 0 Toronto-Dominion Bank COM 891160509 9 140 X 1, 2 140 0 0 Trico Bancshares COM 896095106 9,824 580,252 X 1, 2 580,252 0 0 UAL Corporation COM 902549807 9,144 444,752 X 1, 2 444,752 0 0 U.S. Bancorp COM 902973304 61,801 2,765,161 X 1, 2 2,765,161 0 0 Usg Corp COM 903293405 4,424 366,185 X 1, 2 366,185 0 0 Ultra Petroleum Corp. COM 903914109 245 5,531 X 1, 2 5,531 0 0 Union Pacific Corp COM 907818108 199 2,865 X 1, 2 2,865 0 0 United Technologies Corp COM 913017109 39,633 610,581 X 1, 2 570,931 135 39,515 Univest Corp. Of PA COM 915271100 2,594 149,744 X 1, 2 149,744 0 0 VF Corporation COM 918204108 459 6,454 X 1, 2 6,454 0 0 WMS Industries Inc. COM 929297109 4,066 103,605 X 1, 2 103,605 0 0 WSFS Financial Corp COM 929328102 6,184 172,099 X 1, 2 172,099 0 0 Walgreen Co. COM 931422109 68,708 2,573,346 X 1, 2 2,573,346 0 0 WASHINGTON BANKING CO COM 937303105 5,116 400,000 X 1, 2 400,000 0 0 Washington Post Cl B COM 939640108 29,241 71,236 X 1, 2 71,236 0 0 Wells Fargo & Co COM 949746101 78,928 3,083,124 X 1, 2 3,063,265 0 19,859 Wendy's/Arby's Group Inc COM 950587105 5 1,285 X 1, 2 1,285 0 0 Westamerica Bancorporation COM 957090103 15,158 288,613 X 1, 2 288,613 0 0 WHITING PETROLEUM CORP COM 966387102 639 8,150 X 1, 2 8,150 0 0 Williams Cos Inc COM 969457100 819 44,794 X 1, 2 44,794 0 0 Yum Brands Inc COM 988498101 363 9,290 X 1, 2 9,290 0 0 AmerisourceBergen Corp COM 03073E105 1,628 51,272 X 1, 2 51,272 0 0
Page 10 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Target Corp COM 87612E106 39,066 794,513 X 1, 2 751,021 210 43,282 Fushi Copperweld Inc COM 36113E107 3,552 434,219 X 1, 2 434,219 0 0 NSTAR COM 67019E107 41,003 1,171,500 X 1, 2 1,171,500 0 0 NAVISTAR INT CORP COM 63934E108 658 13,381 X 1, 2 13,381 0 0 W-H Energy Services Inc COM 92925E108 0 15,000 X 1, 2 15,000 0 0 Imax Corp COM 45245E109 5,744 393,423 X 1, 2 393,423 0 0 News Corporation Inc - Class B COM 65248E203 41,934 3,027,758 X 1, 2 3,027,758 0 0 A.C. Moore Arts & Crafts Inc COM 00086T103 2,783 1,226,076 X 1, 2 1,226,076 0 0 AMG Pharmaceuticals Inc. COM 00163U106 7,420 216,007 X 1, 2 216,007 0 0 AT&T INC COM 00206R102 39,983 1,652,891 X 1, 2 1,652,892 210 -211 Aetna Inc-New COM 00817Y108 1,774 67,237 X 1, 2 67,237 0 0 Alaska Communications Sys Grp COM 01167P101 467 55,000 X 1, 2 55,000 0 0 ALLEGHENY TECHNOLOGS INC COM 01741R102 582 13,180 X 1, 2 13,180 0 0 Alpha Natural Resources Inc COM 02076X102 630 18,610 X 1, 2 18,610 0 0 American Public Education COM 02913V103 3,010 68,871 X 1, 2 68,871 0 0 Ameriprise Financial Inc COM 03076C106 3,102 85,860 X 1, 2 85,860 0 0 Bally Technologies Inc COM 05874B107 6,592 203,531 X 1, 2 203,531 0 0 BioMarin Pharmaceutical Inc COM 09061G101 4,152 219,002 X 1, 2 219,002 0 0 Blackrock Inc/New York COM 09247X101 30,927 215,671 X 1, 2 215,671 0 0 BOND STREET HOLDNGS LLC-A COM 09788X1PP 20,500 1,025,000 X 1, 2 1,025,000 0 0 Broadridge Financial Solutions COM 11133T103 14,815 777,667 X 1, 2 777,667 0 0 CH Energy Group Inc COM 12541M102 41,320 1,053,000 X 1, 2 1,053,000 0 0 Cablevision Systems - Cl A COM 12686C109 378 15,745 X 1, 2 15,745 0 0 Cardinal Health Inc COM 14149Y108 1,432 42,617 X 1, 2 42,617 0 0 Carefusion Corp. COM 14170T101 484 21,308 X 1, 2 21,308 0 0 Carrol Restaurant Group Inc COM 14574X104 3,607 789,200 X 1, 2 789,200 0 0 Cenovous Energy Inc COM 15135U109 893 34,644 X 1, 2 34,644 0 0 Centerstate Banks Of Florida COM 15201P109 7,568 750,000 X 1, 2 750,000 0 0 Chinacast Education Corp COM 16946T109 5,599 942,549 X 1, 2 942,549 0 0 Cisco Systems Inc COM 17275R102 12,756 598,603 X 1, 2 563,584 0 35,019 CITIZENS SOUTH BANKNG CORP COM 1766821PP 2,391 388,800 X 1, 2 388,800 0 0 COLLECTIVE BRAND INC COM 19421W100 3,460 219,000 X 1, 2 219,000 0 0 Comcast Corp Special CL A COM 20030N200 8,186 498,253 X 1, 2 498,253 0 0 CONOCOPHILLIPS COM 20825C104 477 9,711 X 1, 2 3,793 0 5,918
Page 11 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Consol Energy Inc COM 20854P109 28,064 831,292 X 1, 2 831,292 0 0 DG FastChannel Inc COM 23326R109 6,190 190,000 X 1, 2 190,000 0 0 DSW Inc-Class A COM 23334L102 4,514 200,971 X 1, 2 200,971 0 0 Dell Inc COM 24702R101 121,154 10,045,924 X 1, 2 10,045,924 0 0 Devon Energy Corp COM 25179M103 207 3,402 X 1, 2 3,402 0 0 DEX ONE CORP COM 25212W100 3,841 202,166 X 1, 2 202,166 0 0 DIAMOND OFFSHORE DRILLING COM 25271C102 3 43 X 1, 2 43 0 0 Dominion Resources Inc/Va COM 25746U109 23,825 615,000 X 1, 2 615,000 0 0 Domino's Pizza Inc COM 25754A201 13,628 1,206,000 X 1, 2 1,206,000 0 0 Duke Energy Corp COM 26441C105 17,920 1,120,000 X 1, 2 1,120,000 0 0 EOG Resources Inc COM 26875P101 32,231 327,648 X 1, 2 312,928 85 14,635 EQT Corp. COM 26884L109 43,651 1,207,842 X 1, 2 1,207,842 0 0 EAST WEST BANCORP INC COM 27579R1PP 66,509 4,361,274 X 1, 2 4,361,274 0 0 eHealth Inc. COM 28238P109 143 12,572 X 1, 2 12,572 0 0 Entergy Corp COM 29364G103 15,183 212,000 X 1, 2 212,000 0 0 ESSA Bancorp Inc. COM 29667D104 1,515 123,099 X 1, 2 123,099 0 0 EVANS BANCORP INC COM 29911Q208 1,636 129,300 X 1, 2 129,300 0 0 Evercore Partners Inc-CL A COM 29977A105 7,182 307,591 X 1, 2 307,591 0 0 Expedia Inc COM 30212P105 480 25,583 X 1, 2 25,583 0 0 Exxon Mobil Corp COM 30231G102 47,043 824,300 X 1, 2 770,902 145 53,253 FedEx Corporation COM 31428X106 2 25 X 1, 2 25 0 0 First Bancorp Inc/ME COM 31866P102 1,924 146,499 X 1, 2 146,499 0 0 FIRST SOUTHERN BANCRP INC COM 33644N1PP 2,216 219,375 X 1, 2 219,375 0 0 First United Bancorp Inc/North COM 33740N105 4,394 597,036 X 1, 2 597,036 0 0 Flowserve Corp COM 34354P105 798 9,415 X 1, 2 9,415 0 0 Freeport-McMoran Cppr & Gold Inc. COM 35671D857 15,355 259,677 X 1, 2 259,677 0 0 FuelCell Energy Inc COM 35952H106 83 70,000 X 1, 2 70,000 0 0 Gamestop Corp COM 36467W109 518 27,551 X 1, 2 27,551 0 0 Glacier Bancorp Inc COM 37637Q105 8,347 569,013 X 1, 2 569,013 0 0 Global Aviation Holdings, Inc COM 37990V204 972 870 X 1, 2 870 0 0 Goldman Sachs Group Inc COM 38141G104 35,195 268,113 X 1, 2 268,113 0 0 Google Inc Class A COM 38259P508 56,571 127,140 X 1, 2 127,140 0 0 Government Properties Income COM 38376A103 176 6,909 X 1, 2 6,909 0 0 Heritage Financial Corp COM 42722X106 6,257 417,940 X 1, 2 417,940 0 0
Page 12 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Heritage Oaks Bancorp. COM 42724R107 6,243 1,715,145 X 1, 2 1,715,145 0 0 IMPAX LABORATORIES INC COM 45256B101 5,181 271,833 X 1, 2 271,833 0 0 Integrys Energy Group Inc COM 45822P105 35,867 820,000 X 1, 2 820,000 0 0 JPMorgan Chase & Co COM 46625H100 108,776 2,971,211 X 1, 2 2,964,826 0 6,385 Janus Capital Group Inc COM 47102X105 2,946 331,713 X 1, 2 331,713 0 0 Joe's Jean Inc. COM 47777N101 6,662 3,364,422 X 1, 2 3,364,422 0 0 KAPSTONE PAPER AND PCKGNG COM 48562P103 7,432 667,106 X 1, 2 667,106 0 0 KODIAK OIL & GAS CORP COM 50015Q100 4,486 1,406,157 X 1, 2 1,406,157 0 0 KRAFT FOODS INC - A COM 50075N104 2 60 X 1, 2 60 0 0 LSB Corp COM 50215P100 790 65,000 X 1, 2 65,000 0 0 Laboratory Corp of America Hldngs COM 50540R409 16,810 223,088 X 1, 2 223,088 0 0 Liberty Media Corp - Capital COM 53071M302 17,323 413,347 X 1, 2 413,347 0 0 M&T Bank Corporation COM 55261F104 35,616 419,254 X 1, 2 419,254 0 0 MBIA Inc COM 55262C100 105 18,750 X 1, 2 18,750 0 0 MB Financial Inc COM 55264U108 14,063 764,723 X 1, 2 764,723 0 0 Msci Inc-Cl A COM 55354G100 10,768 393,000 X 1, 2 393,000 0 0 Macquarie Infrastructure Co LLC COM 55608B105 230 18,000 X 1, 2 18,000 0 0 MASTERCARD INC - CLASS A COM 57636Q104 3,151 15,792 X 1, 2 15,792 0 0 McKesson Corp COM 58155Q103 33,911 504,928 X 1, 2 504,928 0 0 Medco Health Solutions Inc COM 58405U102 1,271 23,071 X 1, 2 23,071 0 0 Merck & Co Inc COM 58933Y105 10,466 299,286 X 1, 2 298,711 0 575 Metlife Inc COM 59156R108 9,066 240,085 X 1, 2 234,850 0 5,235 Monotype Imaging Holdings Inc. COM 61022P100 4,876 541,214 X 1, 2 541,214 0 0 Monsanto Co COM 61166W101 61,874 1,338,693 X 1, 2 1,338,693 0 0 Netlogic Microsystems Inc COM 64118B100 10,026 368,614 X 1, 2 368,614 0 0 NetSuite Inc. COM 64118Q107 5,781 457,325 X 1, 2 457,325 0 0 NiSource Inc. COM 65473P105 18,567 1,280,500 X 1, 2 1,280,500 0 0 Novabay Pharmaceuticals Inc. COM 66987P102 1,232 573,196 X 1, 2 573,196 0 0 PNM Resources Inc COM 69349H107 6,238 558,000 X 1, 2 558,000 0 0 PPL Corporation COM 69351T106 19,960 800,000 X 1, 2 800,000 0 0 Pacific Continental Corp. COM 69412V108 1,162 122,699 X 1, 2 122,699 0 0 Pacific Continental Corp COM 69412V1PP 5,682 600,000 X 1, 2 600,000 0 0 PAR PHARMACEUTICAL COS INC COM 69888P106 4,510 173,730 X 1, 2 173,730 0 0 Praxair Inc COM 74005P104 34,072 448,390 X 1, 2 417,543 110 30,737
Page 13 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE T Rowe Price Group Inc COM 74144T108 23,842 537,113 X 1, 2 513,178 125 23,810 Pride International Inc COM 74153Q102 606 27,129 X 1, 2 27,129 0 0 Principal Financial Group Inc. COM 74251V102 3,666 156,401 X 1, 2 156,401 0 0 Progress Energy Inc COM 743263AA3 111 337,750 X 1, 2 337,750 0 0 RSC HOLDINGS INC COM 74972L102 3,887 630,000 X 1, 2 630,000 0 0 RTI Biologics Inc. COM 74975N105 3,201 1,092,611 X 1, 2 1,092,611 0 0 Range Resources Corp COM 75281A109 249 6,212 X 1, 2 6,212 0 0 RETAILS VENTURES INC. COM 76128Y102 9,119 1,166,078 X 1, 2 1,166,078 0 0 SVB Financial Group COM 78486Q101 33,389 809,826 X 1, 2 809,826 0 0 Salesforce.com Inc COM 79466L302 1,104 12,869 X 1, 2 12,869 0 0 SANDISK COM 80004C101 662 15,731 X 1, 2 15,731 0 0 SEAHAWK DRILLING INC COM 81201R107 5,697 586,106 X 1, 2 586,106 0 0 Signature Bank COM 82669G104 19,244 506,285 X 1, 2 506,285 0 0 Silver Standard Resources Inc COM 82823L106 11,556 647,375 X 1, 2 647,375 0 0 Sirius XM Radio Inc. COM 82967N108 140,008 147,454,256 X 1, 2 147,454,256 0 0 Sonosite Inc COM 83568G104 3,393 125,174 X 1, 2 125,174 0 0 Southcoast Financial Corp COM 84129R100 527 202,633 X 1, 2 202,633 0 0 Stantec Inc COM 85472N109 588 26,563 X 1, 2 26,563 0 0 Star Tribune COM 85519Y100 1,348 67,413 X 1, 2 67,413 0 0 STARWOOD HOTELS & RSRTS COM 85590A401 153 3,700 X 1, 2 3,700 0 0 TECHTARGET COM 87874R100 4,301 799,531 X 1, 2 799,531 0 0 Tempur Pedic Intl Inc COM 88023U101 3,970 129,109 X 1, 2 129,109 0 0 3M Co COM 88579Y101 47,095 596,219 X 1, 2 565,195 140 30,884 Time Warner Cable COM 88732J207 2,066 39,667 X 1, 2 39,667 0 0 TREX COMPANY INC COM 89531P105 2,759 137,353 X 1, 2 137,353 0 0 USA Mobility Inc COM 90341G103 1,508 116,728 X 1, 2 116,728 0 0 US Airways Group Inc COM 90341W108 7,291 846,784 X 1, 2 846,784 0 0 Ultimate Software Group Inc COM 90385D107 5,811 176,840 X 1, 2 176,840 0 0 United Therapeutics Corp COM 91307C102 3,494 71,586 X 1, 2 71,586 0 0 Varian Medical Systems Inc. COM 92220P105 563 10,770 X 1, 2 10,770 0 0 Vectren Corporation COM 92240G101 23,897 1,010,000 X 1, 2 1,010,000 0 0 Verizon Communications Inc COM 92343V104 25,428 907,500 X 1, 2 907,500 0 0 VERISK ANALYTICS INC-CLASS A COM 92345Y106 16,116 539,000 X 1, 2 539,000 0 0 Viacom Inc-Class A COM 92553P102 1,854 52,000 X 1, 2 52,000 0 0
Page 14 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE VIEWPOINT FINANCIAL GROUP COM 92672A101 5,000 500,000 X 1, 2 500,000 0 0 VISA INC - CLASS A SHARES COM 92826C839 7,560 106,859 X 1, 2 106,859 0 0 Vocus Inc. COM 92858J108 1,531 100,196 X 1, 2 100,196 0 0 Warren Resources Inc COM 93564A100 29,152 10,052,279 X 1, 2 10,052,279 0 0 Washington Trust Bancorp Inc COM 9406101PP 10,224 600,000 X 1, 2 600,000 0 0 WASTE MANAGEMENT INC. COM 94106L109 181 5,800 X 1, 2 5,800 0 0 WELLCARE HEALTH PLANS INC COM 94946T106 1,347 56,737 X 1, 2 56,737 0 0 Xcel Energy Inc COM 98389B100 34,159 1,657,400 X 1, 2 1,657,400 0 0 Telvent GIT SA COM E90215109 3,245 194,294 X 1, 2 194,294 0 0 Assured Guaranty Ltd COM G0585R106 13,329 1,004,456 X 1, 2 1,004,456 0 0 Accenture PLC COM G1151C101 11,161 288,776 X 1, 2 288,776 0 0 Bunge Limited COM G16962105 14,719 299,220 X 1, 2 299,220 0 0 Covidien PLC COM G2554F105 555 13,802 X 1, 2 13,802 0 0 Invesco Ltd COM G491BT108 1,680 99,829 X 1, 2 99,829 0 0 Maiden Holdings Ltd. COM G5753U112 6,176 940,000 X 1, 2 940,000 0 0 Marvell Technology Group Ltd COM G5876H105 391 24,809 X 1, 2 24,809 0 0 PartnerRe Ltd COM G6852T105 5,797 82,649 X 1, 2 82,649 0 0 Seagate Technology COM G7945J104 783 60,054 X 1, 2 60,054 0 0 ACE Ltd. COM H0023R105 46,722 907,583 X 1, 2 907,583 0 0 Weatherford International Ltd. COM H27013103 796 60,577 X 1, 2 60,577 0 0 TYCO INTERNATIONAL LTD COM H89128104 52,962 1,503,309 X 1, 2 1,503,309 0 0 First American Financl Hldngs Inc COM JHFFAMFPP 810 300,000 X 1, 2 300,000 0 0 FDR Management, LLC Prv Cmmn COM JHFFDREP2 0 9,827 X 1, 2 9,827 0 0 FDR Management, LLC Prv Cmmn COM JHFFDREPP 0 213 X 1, 2 213 0 0 FIRST MICHIGAN BNK PRV PLCMT COM JHFFMBPP1 16,806 3,350,000 X 1, 2 3,350,000 0 0 Muzak Holdings LLC COM JHFMUZCOM 0 323,174 X 1, 2 323,174 0 0 EURAND NV COM N31010106 2,961 305,578 X 1, 2 305,578 0 0 LYONDELLBASELL INDU-CL A COM N53745100 2,216 137,189 X 1, 2 137,189 0 0 LYONDELLBASELL INDU-CL B COM N53745118 2,031 125,736 X 1, 2 125,736 0 0 Qiagen NV COM N72482107 760 39,549 X 1, 2 39,549 0 0 VistaPrint Ltd COM N93540107 9,046 190,478 X 1, 2 190,478 0 0 Copa Holdings SA-Class A COM P31076105 7,217 163,204 X 1, 2 163,204 0 0 S&P500 USD Opal COM 004286774 5,527 10,000 X 1, 2 10,000 0 0 Enterprise Products Partners COM 293792107 9 265 X 1, 2 265 0 0
Page 15 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE IShares MSCI EMU COM 464286608 3,839 134,480 X 1, 2 134,480 0 0 iShare MSCI Untd Kngdm Indx Fnd COM 464286699 1,438 106,997 X 1, 2 106,997 0 0 IShares MSCI Germany Index COM 464286806 698 37,311 X 1, 2 37,311 0 0 iShares MSCI Japan Index Fund COM 464286848 2,472 268,659 X 1, 2 268,659 0 0 iShares DJ US Real Estate COM 464287739 7 140 X 1, 2 140 0 0 BGI Canada LTD Unvr Bnd Ind Fnd COM 05699A920 84,018 3,555,965 X 1, 2 3,555,965 0 0 BLACKSTONE GROUP LP/THE COM 09253U108 1,634 170,927 X 1, 2 170,927 0 0 Direxion Daily 10-Year Trsry Bear 3 COM 25459W557 7 150 X 1, 2 150 0 0 Energy Transfer Partners LP COM 29273R109 6 120 X 1, 2 120 0 0 KKR Financial Holdings LLC COM 48248A306 15 2,010 X 1, 2 2,010 0 0 KINDER MORGAN MNGMNT LLC COM 49455U100 4 79 X 1, 2 79 0 0 Powershares QQQ COM 73935A104 1,519 35,570 X 1, 2 35,570 0 0 ProShares UltraDOW 30 COM 74347R305 12 315 X 1, 2 315 0 0 Vertis Holdings Inc. COM 92535B106 0 256,836 X 1, 2 256,836 0 0 Lazard Ltd COM G54050102 71,063 2,660,539 X 1, 2 2,660,539 0 0 JOHN HANCOCK INVT TR COM 47803P302 380 28,500 X 1, 2 28,500 0 0 Muzak Holdings LLC - Preferred PFD JHFMUZPFD 1,022 28,384 X 1, 2 28,384 0 0 Brazil Ethanol Inc.-Unit PFD 10575X200 10 1,043,559 X 1, 2 1,043,559 0 0 Fontainebleau Class A Units PFD JHFFONUNI 5 450,450 X 1, 2 450,450 0 0 Aegon NV PFD 007924301 18,475 1,050,900 X 1, 2 1,050,900 0 0 Aegon NV PFD 007924400 5,956 338,000 X 1, 2 338,000 0 0 Alabama Power Co PFD 010392561 4,196 173,400 X 1, 2 173,400 0 0 Alabama Power Co. PFD 010392595 28,140 1,172,500 X 1, 2 1,172,500 0 0 Amerco Inc. PFD 023586209 8,733 350,000 X 1, 2 350,000 0 0 BAC Capital Trust II PFD 055188205 2,625 117,000 X 1, 2 117,000 0 0 Baltimore Gas & Electric PFD 059165688 2,012 20,250 X 1, 2 20,250 0 0 Baltimore Gas & Electric PFD 059165761 21,427 213,870 X 1, 2 213,870 0 0 Bank of America Corp PFD 060505559 31,826 1,277,649 X 1, 2 1,277,649 0 0 Bank of America Corp PFD 060505575 9,990 500,000 X 1, 2 500,000 0 0 Bank of America Corp PFD 060505617 25,006 1,299,000 X 1, 2 1,299,000 0 0 Bank of America Corp PFD 060505682 25,834 28,452 X 1, 2 28,452 0 0 BANK OF AMERICA CORP PFD 060505740 15,015 715,000 X 1, 2 715,000 0 0 Bank of America Corp PFD 060505765 11,976 480,000 X 1, 2 480,000 0 0 Bank of Amercia Corp PFD 060505831 27,996 1,465,000 X 1, 2 1,465,000 0 0
Page 16 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE CBS Corporation 7.25 Senior Note PFD 124857301 12,059 494,000 X 1, 2 494,000 0 0 CBS Corp PFD 124857400 10,749 450,900 X 1, 2 450,900 0 0 Carolina Power & Light Co PFD 144141405 11,136 122,875 X 1, 2 122,875 0 0 AmerenCILCO PFD 153645304 729 7,460 X 1, 2 7,460 0 0 Citigroup Inc PFD 7.5% PFD 172967416 12,407 109,795 X 1, 2 109,795 0 0 Citigroup Inc PFD 172967572 431 22,915 X 1, 2 22,915 0 0 Citigroup Capital X PFD 173064205 14,211 741,300 X 1, 2 741,300 0 0 Consolidated Edison Co of NY PFD 209111707 1,877 21,100 X 1, 2 21,100 0 0 Constellation Energy Grp PFD 210387205 26,170 1,015,900 X 1, 2 1,015,900 0 0 Continental Airlines Financl Trst I PFD 210796306 48,093 1,647,718 X 1, 2 1,647,718 0 0 Credit Suisse/Guernsey PFD 225448208 34,179 1,343,000 X 1, 2 1,343,000 0 0 Duke Realty Corp PFD 264411745 6,970 338,180 X 1, 2 338,180 0 0 Duke Realty Corp PFD 264411760 7,666 371,600 X 1, 2 371,600 0 0 Duke Realty Corp PFD 264411778 23,981 1,154,025 X 1, 2 1,154,025 0 0 Duquesne Light 6.5% PFD 266228824 55,335 1,119,000 X 1, 2 1,119,000 0 0 FPC Capital I PFD 302552203 51,332 2,029,750 X 1, 2 2,029,750 0 0 FPL Group Capital Inc. PFD 302570502 532 20,000 X 1, 2 20,000 0 0 FORD MOTOR CO CAP TR II PFD 345395206 5,519 125,000 X 1, 2 125,000 0 0 General Electric Capital Corp PFD 369622451 3,613 144,700 X 1, 2 144,700 0 0 General Electric Capital Corp PFD 369622469 2,837 113,000 X 1, 2 113,000 0 0 General Electric Capital Corp PFD 369622527 3,605 142,000 X 1, 2 142,000 0 0 Glasstech Inc PFD 377265863 143 143 X 1, 2 143 0 0 Glasstech Inc Series B PFD 377265871 852 4,475 X 1, 2 4,475 0 0 Glasstech Inc Preferred Series C PFD 377265889 0 11 X 1, 2 11 0 0 GREEKTOWN SUPRHLDNGS PFD PFD 392485207 64,105 579,716 X 1, 2 579,716 0 0 Heco Capital Trust III PFD 404156200 24,457 968,600 X 1, 2 968,600 0 0 HSBC Holdings Plc PFD 404280604 9,451 440,600 X 1, 2 440,600 0 0 HSBC Holdings PLC PFD 404280703 1,270 50,000 X 1, 2 50,000 0 0 HSBC HOLDINGS PLC PFD PFD 404280802 8,174 325,000 X 1, 2 325,000 0 0 HARTFORD FINL SVCS GRP PFD 416515708 5,785 250,000 X 1, 2 250,000 0 0 ING Group NV PFD 456837202 41,491 2,269,770 X 1, 2 2,269,770 0 0 ING Groep NV PFD 456837301 16,115 865,000 X 1, 2 865,000 0 0 ING Groep NV PFD 456837400 1,832 109,100 X 1, 2 109,100 0 0 ING Groep NV PFD 456837509 1,034 61,500 X 1, 2 61,500 0 0
Page 17 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Interstate Power & Light Co PFD 461070864 14,403 570,400 X 1, 2 570,400 0 0 Interstate Power & Light Co PFD 461070872 54,052 1,987,200 X 1, 2 1,987,200 0 0 Lehman Brothers Holdings Inc PFD 524908704 32 638,560 X 1, 2 638,560 0 0 Lehman Brothers Holdings Inc PFD 524908720 2 219,300 X 1, 2 219,300 0 0 Lehman Brothers Holdings Inc PFD 524908886 49 761,201 X 1, 2 761,201 0 0 Morgan Stanley Capital Trust III PFD 617460209 16,968 784,100 X 1, 2 784,100 0 0 MORGAN STANLEY CAP TR VI PFD 617461207 865 38,300 X 1, 2 38,300 0 0 Morgan Stanley Capital Trust IV PFD 617462205 28,033 1,314,860 X 1, 2 1,314,860 0 0 Morgan Stanley Capital Trust V PFD 617466206 17,288 863,100 X 1, 2 863,100 0 0 Northwest Airlines Corp PFD 667990683 14 143,381 X 1, 2 143,381 0 0 Ocean Spray Cranberries Inc PFD 675022404 53,193 725,250 X 1, 2 725,250 0 0 Sempra Energy PFD 694232307 3,042 38,500 X 1, 2 38,500 0 0 Pacific Enterprises PFD 694232505 3,645 45,000 X 1, 2 45,000 0 0 Sempra Energy PFD 694232604 1,122 12,610 X 1, 2 12,610 0 0 Pliant Corp PFD 729136507 0 1,972 X 1, 2 1,972 0 0 Royal Bank of Scotland Group Plc PFD 780097788 40,028 2,873,500 X 1, 2 2,873,500 0 0 Southern Cal Edison PFD 842400731 16,318 180,000 X 1, 2 180,000 0 0 Southern Cal Ed PFD 842400749 35,724 384,000 X 1, 2 384,000 0 0 Southern Union Co. PFD 844030601 27,084 1,078,200 X 1, 2 1,078,200 0 0 USB CAPITAL XI PFD 903300200 10,996 447,900 X 1, 2 447,900 0 0 USB Capital VIII PFD 903307205 24,020 1,017,800 X 1, 2 1,017,800 0 0 AmerenUE PFD 906548300 810 12,262 X 1, 2 12,262 0 0 US Cellular PFD 911684306 74,649 2,999,169 X 1, 2 2,999,169 0 0 Virginia Electric & Power Co PFD 927804625 4,495 45,500 X 1, 2 45,500 0 0 Webster Fianacial Corp. PFD 947890307 2,820 3,000 X 1, 2 3,000 0 0 Wells Fargo & Company PFD 949746804 23,875 25,645 X 1, 2 25,645 0 0 Wells Fargo & Company PFD 949746879 81,346 3,142,000 X 1, 2 3,142,000 0 0 ZIONS BANCORP PFD 989701503 3,103 131,487 X 1, 2 131,487 0 0 ZIONS BANCORP PFD 989701875 2,798 108,050 X 1, 2 108,050 0 0 Lehman Brother Hldng Cap Trst V PFD 52520E200 2 46,600 X 1, 2 46,600 0 0 JPM CHASE CAPITAL XXIX PFD 48125E207 25,986 1,096,000 X 1, 2 1,096,000 0 0 Phoenix Companies Inc PFD 71902E208 13,809 829,849 X 1, 2 829,849 0 0 AT&T Inc. PFD 00211G208 1,113 42,000 X 1, 2 42,000 0 0 Apartment Investment & Mgmnt Co PFD 03748R838 1,303 55,000 X 1, 2 55,000 0 0
Page 18 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE BGE Capital Trust II PFD 05541Q206 63,041 2,573,100 X 1, 2 2,573,100 0 0 Barclays PLC PFD 06739H362 37,977 1,550,100 X 1, 2 1,550,100 0 0 Barclays Bank PLC PFD 06739H776 17,133 777,690 X 1, 2 777,690 0 0 Citigroup Capital VII PFD 17306N203 5,273 235,000 X 1, 2 235,000 0 0 Citigroup Cap VIII 6.95% PFD 17306R204 40,104 1,837,100 X 1, 2 1,837,100 0 0 CITIGROUP CAPITAL XII PFD 17315D204 18,118 725,000 X 1, 2 725,000 0 0 Comcast Corp PFD 20030N309 13,011 507,430 X 1, 2 507,430 0 0 Comcast Corp PFD 20030N408 47,043 1,853,556 X 1, 2 1,853,556 0 0 Comcast Corp PFD 20030N507 6,076 248,500 X 1, 2 248,500 0 0 Corporate Backed Trust Certificts PFD 21988G296 989 45,400 X 1, 2 45,400 0 0 DTE Energy Trust I PFD 23333Q201 16,419 633,200 X 1, 2 633,200 0 0 DTE Energy Trust II PFD 23334U201 1,525 59,400 X 1, 2 59,400 0 0 DB Capital Funding VIII PFD 25153U204 6,535 313,300 X 1, 2 313,300 0 0 DB Cont Cap Trst II PFD 25153X208 28,344 1,373,275 X 1, 2 1,373,275 0 0 DB CONT CAP TRUST III PFD 25154A108 60,242 2,584,393 X 1, 2 2,584,393 0 0 DB Capital Funding X PFD 25154D102 9,433 418,300 X 1, 2 418,300 0 0 Dominion Resources Inc PFD 25746U604 17,542 631,000 X 1, 2 631,000 0 0 Entergy Arkansas Inc PFD 29364D308 775 9,388 X 1, 2 9,388 0 0 Entergy Arkansa Inc PFD 29364D787 9,919 460,000 X 1, 2 460,000 0 0 Entergy Mississippi Inc PFD 29364N405 688 8,190 X 1, 2 8,190 0 0 ENTERGY MISSISSIPPI - PREF PFD 29364N843 7,759 311,000 X 1, 2 311,000 0 0 Entergy Mississippi Inc PFD 29364N850 20,154 864,500 X 1, 2 864,500 0 0 ENTERGY LOUISIANA LLC PFD 29364W306 15,531 623,000 X 1, 2 623,000 0 0 Entergy Corp PFD 29365T203 4,444 159,586 X 1, 2 159,586 0 0 FPL Group Capital Trust I PFD 30257V207 25,906 1,028,000 X 1, 2 1,028,000 0 0 Fifth Third Cap Trust VI PFD 31678V206 5 215 X 1, 2 215 0 0 FRST STHRN BNCRP INC/PRF CL PFD 33644N5PP 180 375 X 1, 2 375 0 0 Fleet Capital Trust VIII PFD 33889X203 18,554 812,000 X 1, 2 812,000 0 0 Georgia Power Capital Trust VII PFD 37333T205 8,675 345,600 X 1, 2 345,600 0 0 Goldman Sachs Group Inc PFD 38144X500 10,718 459,000 X 1, 2 459,000 0 0 HSBC USA Inc. PFD 40428H201 19,795 499,000 X 1, 2 499,000 0 0 HSBC Finance Corporation PFD 40429C201 31,416 1,287,018 X 1, 2 1,287,018 0 0 HSBC Finance Corporation PFD 40429C300 4,537 206,400 X 1, 2 206,400 0 0 HSBC Finance Corporation PFD 40429C607 18,973 895,800 X 1, 2 895,800 0 0
Page 19 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE iStar Financial Inc PFD 45031U507 7,331 571,430 X 1, 2 571,430 0 0 iStar Financial Inc PFD 45031U606 8,071 627,116 X 1, 2 627,116 0 0 iStar Financial Inc PFD 45031U705 3,704 290,741 X 1, 2 290,741 0 0 iStar Financial Inc PFD 45031U804 3,464 273,160 X 1, 2 273,160 0 0 JP Morgan Chase Cap X PFD 46623D200 12,248 487,000 X 1, 2 487,000 0 0 JPMorgan Chase & Co PFD 46625H621 14,247 535,000 X 1, 2 535,000 0 0 JP Morgan Chase & Co. PFD 46625H696 25,888 556,727 X 1, 2 556,727 0 0 JPMorgan Chase & Co PFD 46625H712 22,560 472,960 X 1, 2 472,960 0 0 JPMorgan Chase & Co PFD 46625H720 40,313 815,400 X 1, 2 815,400 0 0 JP MORGAN CHASE CAP XI PFD 46626V207 885 38,500 X 1, 2 38,500 0 0 Kimco Realty Corp PFD 49446R869 4,718 200,000 X 1, 2 200,000 0 0 Lehman Brothers Hldng Cp Trst III PFD 52519Y209 68 1,135,400 X 1, 2 1,135,400 0 0 Lincoln National Capital VI PFD 53404M201 10,310 447,300 X 1, 2 447,300 0 0 Merrill Lynch Pref Cap Trust III PFD 59021F206 25,203 1,183,817 X 1, 2 1,183,817 0 0 ML Preferred Capital Trust IV PFD 59021G204 18,097 831,652 X 1, 2 831,652 0 0 Merrill Lynch Pref Capital Trust PFD 59021K205 23,431 1,050,700 X 1, 2 1,050,700 0 0 Metlife Inc 6.5% Ser B PFD 59156R603 105,070 4,517,190 X 1, 2 4,517,190 0 0 MORGAN STANLEY CAP TRUST PFD 61750K208 1,295 59,300 X 1, 2 59,300 0 0 Nexen Inc PFD 65334H508 145,543 5,892,439 X 1, 2 5,892,439 0 0 Nstar Electric Co. PFD 67021C305 10,521 130,286 X 1, 2 130,286 0 0 PFGI Capital Corp PFD 69335W209 60,584 2,408,900 X 1, 2 2,408,900 0 0 PLC Capital Trust IV PFD 69340N202 23,528 975,035 X 1, 2 975,035 0 0 PLC Capital Trust V PFD 69340Y208 9,126 441,950 X 1, 2 441,950 0 0 PPL CORPORATION PFD 69351T601 519 10,000 X 1, 2 10,000 0 0 PPL Electric Utilities Corp PFD 69351U863 41,310 1,719,000 X 1, 2 1,719,000 0 0 PPL CORPORATION 7.00 PFD 69352J883 65,892 2,597,256 X 1, 2 2,597,256 0 0 Principal Financial Group Inc. PFD 74251V300 3,618 160,000 X 1, 2 160,000 0 0 Public Storage Inc PFD 74460D257 1,471 60,000 X 1, 2 60,000 0 0 Public Storage Inc PFD 74460D323 751 30,000 X 1, 2 30,000 0 0 Public Storage Inc PFD 74460D497 1,232 50,000 X 1, 2 50,000 0 0 Public Storage Inc PFD 74460D554 1,830 78,000 X 1, 2 78,000 0 0 Public Storage Inc PFD 74460D570 1,877 80,000 X 1, 2 80,000 0 0 RBS Capital Fund Trust V PFD 74928K208 21,576 1,770,000 X 1, 2 1,770,000 0 0 RBS Capital Fund Trst VI PFD 74928M204 4,189 340,000 X 1, 2 340,000 0 0
Page 20 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE RBS Capital Fund Trst VII PFD 74928P207 16,446 1,348,000 X 1, 2 1,348,000 0 0 SLM Corp PFD 78442P205 28,062 742,390 X 1, 2 742,390 0 0 SLM Corp PFD 78442P304 7,287 432,740 X 1, 2 432,740 0 0 SANTANDER HOLDINGS USA PFD 80282K205 29,792 1,194,544 X 1, 2 1,194,544 0 0 SCANA CORP 7.7% 1/30/2065 PFD 80589M201 53,865 1,966,611 X 1, 2 1,966,611 0 0 Sovereign Capital Trust V PFD 84604V204 15,524 632,600 X 1, 2 632,600 0 0 USB Capital PFD 91731L207 2,973 121,400 X 1, 2 121,400 0 0 VIACOM PFD 92553P300 80,856 3,245,945 X 1, 2 3,245,945 0 0 Wachovia Corp PFD 92977V206 27,722 1,198,000 X 1, 2 1,198,000 0 0 Wells Fargo Capital Trust IV PFD 94976Y207 7,825 315,900 X 1, 2 315,900 0 0 Westar Energy Inc PFD 95709T704 17,863 691,300 X 1, 2 691,300 0 0 Xanadoo Co PFD 98387T301 13,814 345,350 X 1, 2 345,350 0 0 Xcel Energy Inc PFD 98389B308 648 8,610 X 1, 2 8,610 0 0 Xcel Energy Inc PFD 98389B506 2,458 33,691 X 1, 2 33,691 0 0 Xcel Energy Inc PFD 98389B605 733 9,410 X 1, 2 9,410 0 0 Xcel Energy Inc PFD 98389B704 4,571 53,900 X 1, 2 53,900 0 0 Xcel Energy Inc PFD 98389B886 20,586 771,000 X 1, 2 771,000 0 0 Prudential Plc PFD B02FFZ2 4,066 176,100 X 1, 2 176,100 0 0 DORAL MANDTRY CNVRTBL PRF PFD DORALPFDD 5,040 10,901 X 1, 2 10,901 0 0 SANTANDER FIN PFD SA UNI PFD E8683R144 35,698 1,339,000 X 1, 2 1,339,000 0 0 Prudential Plc 6.5 PFD G7293H189 8,598 369,000 X 1, 2 369,000 0 0 Renaissancere Holdings Limited PFD G7498P309 5,922 302,300 X 1, 2 302,300 0 0 Repsol International Capital Lmtd PFD G7513K103 11,301 452,400 X 1, 2 452,400 0 0 HERITAGE COMMRCE CORP PRF PFD JHHTBKPFD 3,633 4,125 X 1, 2 4,125 0 0 Alexandria Real Est Equities COM 015271109 212 3,350 X 1, 2 3,350 0 0 ANNALY CAPITAL MNGMNT IN COM 035710409 23 1,317 X 1, 2 1,317 0 0 ASSOCIATED ESTATES RLTY CP COM 045604105 127 9,800 X 1, 2 9,800 0 0 Boston Properties Inc COM 101121101 430 6,021 X 1, 2 6,021 0 0 Brandywine Realty Trust COM 105368203 1,105 102,808 X 1, 2 102,808 0 0 DIAMONDROCK HOSPITALTY CO COM 252784301 174 21,200 X 1, 2 21,200 0 0 Digital Realty Trust Inc COM 253868103 473 8,193 X 1, 2 8,193 0 0 Duke Realty Corp COM 264411505 114 10,000 X 1, 2 10,000 0 0 Essex Property Trust Inc. COM 297178105 229 2,350 X 1, 2 2,350 0 0 GENERAL GROWTH PPTYS INC COM 370021107 796 60,000 X 1, 2 60,000 0 0
Page 21 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE HERSHA HOSPITALITY TRUST COM 427825104 131 29,000 X 1, 2 29,000 0 0 HOMBURG CANADA REIT 144A COM 436870117 15,332 1,527,064 X 1, 2 1,527,064 0 0 Macerich Co/The COM 554382101 246 6,601 X 1, 2 6,601 0 0 Mack-Cali Realty Corp. COM 554489104 158 5,300 X 1, 2 5,300 0 0 PENN REAL ESTATE INVEST TST COM 709102107 177 14,500 X 1, 2 14,500 0 0 Prologis Trust COM 743410102 489 48,283 X 1, 2 48,283 0 0 Redwood Trust Inc COM 758075402 1,106 75,550 X 1, 2 75,550 0 0 Simon Property Group Inc COM 828806109 6,836 84,661 X 1, 2 84,661 0 0 UDR INC COM 902653104 153 8,000 X 1, 2 8,000 0 0 Vornado Realty Trust COM 929042109 2,854 39,128 X 1, 2 39,128 0 0 AMB Property Corp. COM 00163T109 1,280 54,000 X 1, 2 54,000 0 0 Corporate Office Properties Trst S COM 22002T108 177 4,700 X 1, 2 4,700 0 0 Douglas Emmett Inc COM 25960P109 151 10,650 X 1, 2 10,650 0 0 EXCEL TRUST INC COM 30068C109 150 12,500 X 1, 2 12,500 0 0 FELCOR LODGING (REIT) COM 31430F101 125 25,000 X 1, 2 25,000 0 0 HCP Inc. COM 40414L109 339 10,517 X 1, 2 10,517 0 0 INVESCO MORTGAGE CAPITAL COM 46131B100 11,566 578,000 X 1, 2 578,000 0 0 Kilroy Realty Corp COM 49427F108 193 6,500 X 1, 2 6,500 0 0 Kimco Realty Corp COM 49446R109 1,325 98,600 X 1, 2 98,600 0 0 MEDICL PROPERTIES TRST INC COM 58463J304 189 20,000 X 1, 2 20,000 0 0 PARKWAY PROPERTIES (REITS) COM 70159Q104 127 8,716 X 1, 2 8,716 0 0 SL Green Realty Corp COM 78440X101 194 3,522 X 1, 2 3,522 0 0 STRATEGIC HOTELS & RSRTS I COM 86272T106 158 36,000 X 1, 2 36,000 0 0 Walter Investment Mgmnt Co COM 93317W102 2,241 137,078 X 1, 2 137,078 0 0 COMERICA IN-CW18 WTS 200340115 3,188 250,000 X 1, 2 250,000 0 0 Granite Broadcasting-CW12 WTS 387241110 0 29,220 X 1, 2 29,220 0 0 GREEKTOWN SPRHLDGS WRNT WTS 392485116 22,394 202,511 X 1, 2 202,511 0 0 ATA Holdings WARRANTS WTS 642014112 0 11,942 X 1, 2 11,942 0 0 VALLEY NTNL BANCORP-CW18 WTS 919794131 241 96,277 X 1, 2 96,277 0 0 JPMORGAN CHSE & CO - WARR WTS 46634E114 8,735 691,078 X 1, 2 691,078 0 0 Boise Inc. WTS 09746Y113 33 70,816 X 1, 2 70,816 0 0 CHARTER COMMNTNS-CW14 WTS 16117M123 30 7,605 X 1, 2 7,605 0 0 CHARTER COMMNTNS-CW14 WTS 16117M131 653 124,322 X 1, 2 124,322 0 0 Pathmark Stores Inc WTS 70322A119 1 62,796 X 1, 2 62,796 0 0
Page 22 of 23 NAME OF ISSUER TITLE OF CUSIP VALUE SHRS OR INVST DSCRTION OTHER VOTING AUTHORITY CLASS (x$1000) PRN AMT SHRD SLE OTHR MGR SOLE SHRD NONE Star Tribune WTS 85519Y118 0 25,918 X 1, 2 25,918 0 0 Virgin Media Inc-CW11 WTS 92769L119 1 28,043 X 1, 2 28,043 0 0 Access Integrated Tchnlogs Wrrnt WTS JHFAIXWPP 0 75,000 X 1, 2 75,000 0 0 Silver Slipper Warrants WTS JHFSSLIWW 0 1,928 X 1, 2 1,928 0 0 Katanga Mining Warrants WTS KATWTS850 6 80,000 X 1, 2 80,000 0 0 Number of Securities 753 10,800,581
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