-----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, QeXMgrW8PhEyd/BhkNNvckhNdM3XQuKnCBQ9tqSAbauxieEr73+jHYb7IFqOqkZk G/fXJT6OkWcuBcnHPwyIhg== 0001316617-09-000002.txt : 20090203 0001316617-09-000002.hdr.sgml : 20090203 20090203131738 ACCESSION NUMBER: 0001316617-09-000002 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20081231 FILED AS OF DATE: 20090203 DATE AS OF CHANGE: 20090203 EFFECTIVENESS DATE: 20090203 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: 09564135 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 form13f20081231.txt YEAR END HOLDINGS REPORT, DECEMBER 31, 2008 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F Form 13F Cover Page Report for the Calendar Year Ended: December 31, 2008 Institutional Investment Manager Filing this Report: SATURNA CAPITAL CORPORATION 1300 N. STATE ST. BELLINGHAM, WA 98225 Form 13F File Number: 28-11042 The institutional investment manger filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person signing this report on behalf of Reporting Manager: NICHOLAS KAISER PRESIDENT (360) 734-9900 /s/ Nicholas Kaiser Bellingham, WA February 3, 2009 Report Type: 13F HOLDINGS REPORT FORM 13F SUMMARY PAGE Report Summary Number of other included managers: 0 Form 13F information table entry total: 322 Form 13F information table value total: $935,558 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 $69 "30,300" SH SOLE None 30300 3M Common Stock 88579Y101 "$6,666" "115,850" SH SOLE None 115850 51job ADR ADR 316827104 $49 "8,000" SH SOLE None 8000 Abbott Laboratories Common Stock 2824100 "$12,851" "240,790" SH SOLE None 240790 Accenture LTD-CL A Common Stock G1150G111 $52 "1,600" SH SOLE None 1600 Activision Common Stock 4930202 $124 "14,396" SH SOLE None 14396 Adobe Systems Common Stock 00724F101 "$10,242" "481,070" SH SOLE None 481070 Advanced Micro Devices Common Stock 7903107 $22 "10,000" SH SOLE None 10000 Aegon NV Common Stock 7924103 $245 "40,559" SH SOLE None 40559 Agilent Technologies Common Stock 00846U101 "$8,190" "524,022" SH SOLE None 524022 Air France-KLM ADR ADR 9119108 $319 "25,000" SH SOLE None 25000 Air Products & Chemicals Common Stock 9158106 "$5,530" "110,000" SH SOLE None 110000 Akamai Technologies Common Stock 00971T101 "$4,586" "303,900" SH SOLE None 303900 Alabama Power Co Common Stock 10392496 $121 "5,000" SH SOLE None 5000 Alabama Power Series JJ Preferred Stock 10392520 $25 "1,000" SH SOLE None 1000 Alaska Air Group Common Stock 11659109 $293 "10,000" SH SOLE None 10000 Alcatel-Lucent ADS ADR 13904305 $0 86 SH SOLE None 86 Alcoa Common Stock 13817101 "$4,716" "418,835" SH SOLE None 418835 Amazon.com Common Stock 23135106 "$10,564" "206,000" SH SOLE None 206000 Ameren Common Stock 23608102 $11 333 SH SOLE None 333 America Movil SAB de CV ADS ADR 02364W105 "$7,868" "253,900" SH SOLE None 253900 American Eagle Outfitters Common Stock 2.55E+109 "$4,224" "451,300" SH SOLE None 451300 American Oriental Bioengineering Common Stock 28731107 $340 "50,000" SH SOLE None 50000 American Tower Common Stock 29912201 "$1,759" "60,000" SH SOLE None 60000 Amgen Common Stock 31162100 "$11,893" "205,944" SH SOLE None 205944 Anadarko Petroleum Common Stock 32511107 $65 "1,685" SH SOLE None 1685 Analog Devices Common Stock 32654105 $10 500 SH SOLE None 500 Anglo American PLC ADR ADR 03485P201 "$4,270" "367,499" SH SOLE None 367499 Aon Corp Common Stock 37389103 $114 "2,496" SH SOLE None 2496 Apache Common Stock 37411105 $34 462 SH SOLE None 462 Apartment Investment & Management Common Stock 03748R101 $53 "4,601" SH SOLE None 4601 Apartment Investment & Management Preferred Stock 03748r408 $17 "1,100" SH SOLE None 1100 Apple Common Stock 37833100 "$20,423" "239,280" SH SOLE None 239280 Arch Coal Common Stock 39380100 "$3,258" "200,000" SH SOLE None 200000 Archer-Daniels-Midland Common Stock 39483102 "$2,306" "80,000" SH SOLE None 80000 Arkema ADS ADR 41232109 $0 17 SH SOLE None 17 ARM Holdings plc ADS ADR 42068106 $12 "3,111" SH SOLE None 3111 Asia Pacific Fund Common Stock 44901106 $5 757 SH SOLE None 757 AstraZeneca PLC ADS ADR 46353108 "$7,796" "190,000" SH SOLE None 190000 AT&T Common Stock 00206R102 "$9,021" "316,541" SH SOLE None 316541 ATC Healthcare Common Stock 00209C102 $0 "2,659" SH SOLE None 2659 Australia & New Zealand Banking ADS ADR 52528304 $191 "17,935" SH SOLE None 17935 Autodesk Common Stock 52769106 $12 600 SH SOLE None 600 Autoliv Common Stock 52800109 "$1,291" "60,153" SH SOLE None 60153 Avery Dennison Common Stock 53611109 "$1,964" "60,000" SH SOLE None 60000 Avista Common Stock 05379B107 $226 "11,650" SH SOLE None 11650 AXA SA ADS ADR 54536107 $360 "16,000" SH SOLE None 16000 Bank of America Common Stock 60505104 $10 744 SH SOLE None 744 Bank of New York Mellon Common Stock 64058100 $85 "3,018" SH SOLE None 3018 BASF SE ADS ADR 55262505 "$3,614" "94,400" SH SOLE None 94400 BCE Common Stock 05534B760 $556 "27,129" SH SOLE None 27129 Bed Bath & Beyond Common Stock 75896100 "$3,999" "157,319" SH SOLE None 157319 Best Buy Common Stock 86516101 "$9,972" "354,732" SH SOLE None 354732 BHP Billiton ADS ADR 88606108 "$3,744" "87,270" SH SOLE None 87270 Black & Decker Common Stock 91797100 "$1,812" "43,350" SH SOLE None 43350 Boston Scientific Common Stock 101137107 $4 530 SH SOLE None 530 BP PLC ADS ADR 55622104 "$9,684" "207,196" SH SOLE None 207196 Bristol-Myers Squibb Common Stock 110122108 $243 "10,459" SH SOLE None 10459 Building Materials Common Stock 120113105 $4 "11,800" SH SOLE None 11800 Burlington Northern Santa Fe Common Stock 12189T104 "$7,745" "102,300" SH SOLE None 102300 Cadbury PLC ADS ADR 1.27E+106 $178 "5,000" SH SOLE None 5000 Canadian National Railway Common Stock 136375102 "$4,294" "116,800" SH SOLE None 116800 Canadian Pacific Railway Common Stock 13645T100 "$9,474" "281,800" SH SOLE None 281800 Canon ADS ADR 138006309 "$7,524" "239,630" SH SOLE None 239630 Capital One Financial Common Stock 14040H105 $3 100 SH SOLE None 100 Carlisle Common Stock 142339100 "$4,554" "220,000" SH SOLE None 220000 Carmax Common Stock 143130102 $13 "1,680" SH SOLE None 1680 Caterpillar Common Stock 149123101 $27 600 SH SOLE None 600 Charles River Laboratories Common Stock 159864107 $39 "1,495" SH SOLE None 1495 Charles Schwab Common Stock 808513105 $404 "25,000" SH SOLE None 25000 Check Point Software Tech Ltd Common Stock 1082411 $7 346 SH SOLE None 346 ChevronTexaco Common Stock 166764100 $156 "2,110" SH SOLE None 2110 China Mobile ADS ADR 16941M109 "$8,469" "166,550" SH SOLE None 166550 Chubb Common Stock 171232101 $293 "5,750" SH SOLE None 5750 Chunghwa Telecom ADR ADR 17133Q304 "$3,916" "251,039" SH SOLE None 251039 Cisco Systems Common Stock 17275R102 "$8,369" "513,413" SH SOLE None 513413 Citigroup Common Stock 172967101 $11 "1,699" SH SOLE None 1699 Clorox Common Stock 189054109 "$9,723" "175,000" SH SOLE None 175000 Coach Common Stock 189754104 "$5,168" "248,800" SH SOLE None 248800 Coca-Cola Femsa SAB de CV ADS ADR 191241108 $462 "10,626" SH SOLE None 10626 Colgate-Palmolive Common Stock 194162103 "$6,169" "90,000" SH SOLE None 90000 Companhia Vale do Rio Doce ADR ADR 204412209 $121 "10,000" SH SOLE None 10000 Comtech Communications Common Stock 205826209 $46 "1,000" SH SOLE None 1000 ConocoPhillips Common Stock 20825C104 "$7,626" "147,212" SH SOLE None 147212 Convergys Common Stock 212485106 "$2,564" "400,000" SH SOLE None 400000 Copa Holdings SA Common Stock P31076105 $303 "10,000" SH SOLE None 10000 Corp Office Props Trust CLASS H Preferred Stock 22002T603 $16 "1,000" SH SOLE None 1000 Crane Common Stock 224399105 "$3,620" "210,000" SH SOLE None 210000 Cree Common Stock 225447101 "$2,682" "169,000" SH SOLE None 169000 CRH PLC ADS ADR 12626K203 $276 "10,600" SH SOLE None 10600 CVS/Caremark Common Stock 126650100 "$5,748" "200,000" SH SOLE None 200000 Danaher Common Stock 235851102 $20 360 SH SOLE None 360 Dassault Systems SA ADR ADR 237545108 $135 "3,000" SH SOLE None 3000 Dentsply International Common Stock 249030107 "$9,216" "326,340" SH SOLE None 326340 Devon Energy Common Stock 25179M103 $296 "4,500" SH SOLE None 4500 Donnelley (RR) & Sons Common Stock 257867101 $79 "5,825" SH SOLE None 5825 Dow Chemical Common Stock 260543103 $15 "1,000" SH SOLE None 1000 Dr Pepper Snapple Common Stock 2.61E+113 "$2,633" "162,000" SH SOLE None 162000 DTE Energy Common Stock 233331107 $5 137 SH SOLE None 137 Duke Energy Common Stock 26441C105 "$1,293" "86,111" SH SOLE None 86110.672 Duke Realty Common Stock 264411505 $209 "19,107" SH SOLE None 19107.222 Dun & Bradstreet Common Stock 2.65E+104 $85 "1,098" SH SOLE None 1098 E.ON AG ADS ADR 268780103 "$3,402" "87,350" SH SOLE None 87350 Earthlink Common Stock 270321102 $28 "4,100" SH SOLE None 4100 Edison International Common Stock 281020107 $32 "1,000" SH SOLE None 1000 EI Du Pont de Nemours Common Stock 263534109 "$3,603" "142,400" SH SOLE None 142400 Eli Lilly Common Stock 532457108 "$14,296" "355,000" SH SOLE None 355000 EMCOR Common Stock 29084Q100 "$6,168" "275,000" SH SOLE None 275000 Emerson Electric Common Stock 291011104 "$6,590" "180,000" SH SOLE None 180000 Empresa Brasileira de Aeronautica ADR 29081M102 $99 "6,107" SH SOLE None 6107 Emulex Common Stock 292475209 $7 "1,000" SH SOLE None 1000 Enbridge Energy Partners LP Common Stock 29250R106 $262 "10,260" SH SOLE None 10260 EnCana Common Stock 292505104 "$17,605" "378,758" SH SOLE None 378758 Enersis SA ADS ADR 29274F104 $255 "20,000" SH SOLE None 20000 "Entergy Arknsas Inc, Prf 6.70%" Preferred Stock 29364D811 $51 "2,000" SH SOLE None 2000 Entergy MISS 1st MTG Preferred Stock 29364N876 $24 "1,000" SH SOLE None 1000 Epcos AG ADS ADR 29410P107 $124 "5,000" SH SOLE None 5000 Expedia Inc. - Cl A Common Stock 30212P105 $9 "1,122" SH SOLE None 1122 "Express Scripts, Cl A" Common Stock 302182100 "$2,793" "50,804" SH SOLE None 50804 Exxon Mobil Common Stock 30231G102 "$9,464" "118,548" SH SOLE None 118548 Fair Issac & Co Common Stock 303250104 $30 "1,806" SH SOLE None 1806 Fastenal Common Stock 311900104 "$5,444" "156,220" SH SOLE None 156220 FedEx Common Stock 31428X106 $26 400 SH SOLE None 400 Fiserv Common Stock 337738108 $16 450 SH SOLE None 450 FLIR Systems Common Stock 302445101 $61 "2,000" SH SOLE None 2000 FPL Common Stock 302571104 "$9,122" "181,240" SH SOLE None 181240 FPL Group Capital Trust I Preferred Stock 30257v207 $26 "1,100" SH SOLE None 1100 Freeport-McMoRan Copper & Gold Common Stock 35671D857 "$2,863" "117,125" SH SOLE None 117125 Frontier Financial Common Stock 35907K105 $156 "35,808" SH SOLE None 35808 Furrs Restaurant Group Common Stock 361115603 $0 2 SH SOLE None 2 Gartner Common Stock 366651107 "$1,783" "100,000" SH SOLE None 100000 Genentech Common Stock 368710406 "$11,811" "142,450" SH SOLE None 142450 General Electric Common Stock 369604103 $145 "8,967" SH SOLE None 8967 General Mills Common Stock 370334104 "$9,173" "151,000" SH SOLE None 151000 Gentex Common Stock 371901109 $6 736 SH SOLE None 736 Genuine Parts Common Stock 372460105 "$12,305" "325,000" SH SOLE None 325000 Genzyme Common Stock 372917104 "$8,663" "130,520" SH SOLE None 130520 Gilead Sciences Common Stock 375558103 $89 "1,750" SH SOLE None 1750 GlaxoSmithKline PLC ADS ADR 37733W105 "$4,230" "113,500" SH SOLE None 113500 Global Payments Inc Common Stock 37940X102 $13 382 SH SOLE None 382 Green Mountain Coffee Roasters Common Stock 393122106 $27 700 SH SOLE None 700 Groupe Danone ADS ADR 399449107 "$4,562" "380,000" SH SOLE None 380000 Hain Celestial Group Common Stock 405217100 $44 "2,300" SH SOLE None 2300 Hansen Natural Common Stock 411310105 "$11,279" "336,400" SH SOLE None 336400 Harman International Industries Common Stock 413086109 $32 "1,900" SH SOLE None 1900 Harris Common Stock 413875105 "$8,798" "231,210" SH SOLE None 231210 Hewlett-Packard Common Stock 428236103 "$10,661" "293,785" SH SOLE None 293785 Home Depot Common Stock 437076102 $1 50 SH SOLE None 50 Honeywell International Common Stock 438516106 "$7,576" "230,755" SH SOLE None 230755 Horizon Financial Common Stock 44041F105 $73 "15,300" SH SOLE None 15300 Hospira Common Stock 441060100 $7 259 SH SOLE None 259 Hospitality Properties Trust Common Stock 44106M102 $14 950 SH SOLE None 950 HSN Common Stock 404303109 $2 224 SH SOLE None 224 Humana Common Stock 444859102 "$9,473" "254,098" SH SOLE None 254098 Idacorp Common Stock 451107106 "$3,182" "108,050" SH SOLE None 108050 Illinois Tool Works Common Stock 452308109 "$3,505" "100,000" SH SOLE None 100000 IMS Health Common Stock 449934108 "$4,613" "304,275" SH SOLE None 304275 Infosys ADS ADR 456788108 "$3,931" "160,000" SH SOLE None 160000 ING Groep NV ADS ADR 456837103 $295 "26,600" SH SOLE None 26600 Intel Common Stock 458140100 "$12,487" "851,775" SH SOLE None 851775 International Business Machines Common Stock 459200101 "$9,860" "117,155" SH SOLE None 117155 Intuit Common Stock 461202103 "$10,153" "426,774" SH SOLE None 426774 Iron Mountain Common Stock 462846106 $22 907 SH SOLE None 907 ishares Russell 2000 Common Stock 464287655 $12 238 SH SOLE None 238 JM Smucker Common Stock 832696405 "$5,203" "120,000" SH SOLE None 120000 John Wiley & Sons Common Stock 968223206 "$3,736" "105,000" SH SOLE None 105000 Johnson & Johnson Common Stock 478160104 "$20,646" "345,080" SH SOLE None 345080 JP Morgan Chase & Co Common Stock 46625H100 $53 "1,682" SH SOLE None 1682 KB Home Common Stock 48666K109 $79 "5,775" SH SOLE None 5775 Kellogg Common Stock 487836108 "$6,216" "141,750" SH SOLE None 141750 KeyCorp Common Stock 493267108 $24 "2,772" SH SOLE None 2772 Kimberly-Clark Common Stock 494368103 "$6,907" "130,960" SH SOLE None 130960 Kinder Morgan Energy Partners Common Stock 494550106 $50 "1,100" SH SOLE None 1100 Knight Transportation Common Stock 499064103 $20 "1,237" SH SOLE None 1237 Kohl's Common Stock 500255104 $18 500 SH SOLE None 500 Korea Electric Power ADS ADR 500631106 $232 "20,000" SH SOLE None 20000 LAN Airlines SA ADS ADR 501723100 "$3,164" "393,000" SH SOLE None 393000 Life Technologies Common Stock 53217V109 $8 363 SH SOLE None 363 Ligand Pharmaceuticals Common Stock 53220K207 $27 "10,000" SH SOLE None 10000 Lincoln Electric Holdings Common Stock 533900106 "$5,149" "101,100" SH SOLE None 101100 Lockheed Martin Common Stock 539830109 $25 300 SH SOLE None 300 Lowe's Common Stock 548661107 "$5,088" "236,428" SH SOLE None 236428 Manitowoc Common Stock 563571108 "$4,768" "550,600" SH SOLE None 550600 McGraw-Hill Common Stock 580645109 "$8,677" "374,156" SH SOLE None 374156 Medco Health Solutions Common Stock 58405U102 $42 "1,002" SH SOLE None 1002 Merck & Co Common Stock 589331107 $99 "3,263" SH SOLE None 3263 Merrill Lynch Common Stock 590188108 $5 440 SH SOLE None 440 Methanex Common Stock 59151K108 "$2,248" "200,000" SH SOLE None 200000 Metso Oyj ADS ADR 592671101 $203 "17,100" SH SOLE None 17100 Microchip Technology Common Stock 595017104 "$3,981" "203,825" SH SOLE None 203825 Microsoft Common Stock 594918104 "$5,877" "302,300" SH SOLE None 302300 Millicom Intl Cellular SA Common Stock 3870573 $5 103 SH SOLE None 103 Mitsubishi UFJ Financial ADR ADR 606822104 $311 "50,000" SH SOLE None 50000 Moody's Common Stock 615369105 $37 "1,826" SH SOLE None 1826 Motorola Common Stock 620076109 $8 "1,786" SH SOLE None 1786 MS Structured Asset Preferred Stock 86360Y207 $42 "2,000" SH SOLE None 2000 National Fuel Gas Common Stock 636180101 "$4,073" "130,000" SH SOLE None 130000 National Rural Utitlity Preferred Stock 637432709 $21 "1,000" SH SOLE None 1000 Nidec ADR ADR 654090109 $49 "5,000" SH SOLE None 5000 Nike Common Stock 654106103 "$7,701" "151,000" SH SOLE None 151000 Nissan Motor ADS ADR 654744408 $55 "7,500" SH SOLE None 7500 Noble Common Stock G65422100 "$4,725" "214,200" SH SOLE None 214200 Nomura Holdings ADR ADR 65535h208 $256 "30,700" SH SOLE None 30700 Nordstrom Common Stock 655664100 $5 400 SH SOLE None 400 Norfolk Southern Common Stock 655844108 "$12,939" "275,000" SH SOLE None 275000 Norsk Hydro ASA ADS ADR 656531605 $8 "2,000" SH SOLE None 2000 Novartis AG ADR ADR 66987V109 "$15,433" "310,150" SH SOLE None 310150 Novo Nordisk A/S ADS ADR 670100205 "$9,271" "180,400" SH SOLE None 180400 Nucor Common Stock 670346105 "$6,690" "144,800" SH SOLE None 144800 Old Dominion Freight Line Common Stock 679580100 $6 200 SH SOLE None 200 Omincom Group Common Stock 681919106 $3 100 SH SOLE None 100 Oracle Common Stock 68389X105 "$10,059" "567,330" SH SOLE None 567330 Orient-Express Hotels Common Stock G67743107 $276 "36,000" SH SOLE None 36000 Pacific Financial Common Stock 694275108 $22 "3,186" SH SOLE None 3186 Parker Hannifin Common Stock 701094104 "$3,429" "80,600" SH SOLE None 80600 Patterson - UTI Energy Common Stock 703481101 $23 "2,000" SH SOLE None 2000 Patterson Companies Common Stock 703395103 $7 350 SH SOLE None 350 Pearson PLC ADS ADR 705015105 "$3,134" "328,490" SH SOLE None 328490 PepsiCo Common Stock 713448108 "$16,883" "308,245" SH SOLE None 308245 Petro-Canada Common Stock 7.16E+106 "$1,821" "83,200" SH SOLE None 83200 Petroleo Brasileiro ADR ADR 71654V408 $12 500 SH SOLE None 500 PetSmart Common Stock 716768106 "$5,662" "306,871" SH SOLE None 306871 Pfizer Common Stock 717081103 "$9,217" "520,433" SH SOLE None 520433 Pharmaceutical Product Development Common Stock 717124101 "$7,688" "265,000" SH SOLE None 265000 Piedmont Natural Gas Common Stock 720186105 "$1,900" "60,000" SH SOLE None 60000 PIMCO Commercial Mortgage Secs Common Stock 693388100 $6 "1,000" SH SOLE None 1000 Plum Creek Timber Common Stock 729251108 "$2,094" "60,282" SH SOLE None 60282 PNC Bank Common Stock 693475105 $29 600 SH SOLE None 600 Potash Corp of Saskatchewan Common Stock 73755L107 "$13,040" "178,100" SH SOLE None 178100 Praxair Common Stock 74005P104 "$7,165" "120,700" SH SOLE None 120700 Procter & Gamble Common Stock 742718109 "$7,599" "122,920" SH SOLE None 122920 PT Indosat Tbk ADR ADR 744383100 $65 "2,500" SH SOLE None 2500 Public Storage International Common Stock 74460D109 $141 "1,775" SH SOLE None 1775 Qualcomm Common Stock 747525103 "$11,163" "311,564" SH SOLE None 311564 Quantum Common Stock 747906204 $144 "400,000" SH SOLE None 400000 Raymond James Financial Common Stock 754730109 $27 "1,570" SH SOLE None 1570 Raytheon Common Stock 755111507 $230 "4,500" SH SOLE None 4500 RealNetworks Common Stock 75605L104 $3 800 SH SOLE None 800 Red Lion Hotels Common Stock 756764106 $60 "25,000" SH SOLE None 25000 Regal-Beloit Common Stock 758750103 "$9,522" "250,650" SH SOLE None 250650 Repsol YPF SA ADS ADR 76026T205 $326 "15,138" SH SOLE None 15138 Rio Tinto PLC ADS ADR 767204100 "$4,489" "50,489" SH SOLE None 50489 Ritchie Bros Auctioneers Common Stock 767744105 "$2,588" "120,800" SH SOLE None 120800 Rockwell Automation Common Stock 773903109 "$4,836" "150,000" SH SOLE None 150000 Rockwell Collins Common Stock 774341101 $31 800 SH SOLE None 800 Rogers Communications Common Stock 775109200 "$6,016" "200,000" SH SOLE None 200000 Rohm & Haas Common Stock 775371107 $10 165 SH SOLE None 165 RPM International Common Stock 749685103 "$2,405" "181,000" SH SOLE None 181000 S & P Mid-Cap 400 SPDR's Common Stock S30821995 $10 99 SH SOLE None 99 SanDisk Common Stock 80004C101 "$1,296" "135,000" SH SOLE None 135000 Sanofi-Aventis ADR ADR 80105N105 $4 125 SH SOLE None 125 "Saturn Goodrich, Series 2002 pfd" Preferred Stock 80410V206 $25 "1,100" SH SOLE None 1100 Saturns Dpl Inc Bkd Ser 2002 3 Tr. Preferred Stock 80410A202 $20 "1,000" SH SOLE None 1000 Saturns Hertz Corp Series 2003-8 Preferred Stock 804115202 $4 500 SH SOLE None 500 Satyam Computer Services ADR ADR 804098101 $108 "12,000" SH SOLE None 12000 Seagate Technology Common Stock G7945J104 "$1,113" "251,250" SH SOLE None 251250 Sempra Energy Common Stock 816851109 "$1,916" "44,950" SH SOLE None 44950 Shire PLC ADR ADR 82481r106 $90 "2,000" SH SOLE None 2000 Simon Property Group Common Stock 828806109 $32 600 SH SOLE None 600 Singapore Telecom ADR ADR 82929R304 $14 800 SH SOLE None 800 SK Telecom ADR ADR 78440P108 "$1,054" "58,000" SH SOLE None 58000 Sony ADS ADR 835699307 "$2,843" "130,000" SH SOLE None 130000 Southwest Airlines Common Stock 844741108 $9 "1,000" SH SOLE None 1000 Spectra Energy Common Stock 847560109 $863 "54,855" SH SOLE None 54855 Staples Common Stock 855030102 "$4,609" "257,215" SH SOLE None 257215 State Street Corp Common Stock 857477103 $15 377 SH SOLE None 377 StatoilHydro ASA ADS ADR 85771P102 $96 "5,776" SH SOLE None 5776 Stericycle Common Stock 858912108 $14 260 SH SOLE None 260 Suburban Propane Partners LP Common Stock 864482104 $35 "1,000" SH SOLE None 1000 SumTotal Systems Common Stock 866615107 $142 "50,000" SH SOLE None 50000 SunPower Common Stock 867652109 $11 300 SH SOLE None 300 T. Rowe Price Group Inc. Common Stock 74144T108 $37 "1,050" SH SOLE None 1050 Taiwan Semiconductor ADS ADR 874039100 "$9,648" "1,221,321" SH SOLE None 1221321 Target Common Stock 8.76E+110 $10 300 SH SOLE None 300 Tata Motors Limited ADS ADR 876568502 $15 "3,400" SH SOLE None 3400 TCW Convertible Securities Fund Common Stock 872340104 $1 375 SH SOLE None 375 Teck Cominco Common Stock 878742204 $738 "150,000" SH SOLE None 150000 Teekay LNG Partners LP Common Stock Y8564M105 $34 "2,250" SH SOLE None 2250 Telecom New Zealand ADS ADR 879278208 $96 "14,266" SH SOLE None 14266 Teleflex Common Stock 879369106 "$3,006" "60,000" SH SOLE None 60000 Telefonica SA ADS ADR 879382208 "$7,355" "109,137" SH SOLE None 109137 Telefonos de Mexico SAB de CV ADS ADR 879403780 $329 "15,700" SH SOLE None 15700 Telemex International SAB de CV ADR Common Stock 879690105 $178 "15,700" SH SOLE None 15700 Telephone & Data Sys 6.625% Pfd Preferred Stock 879433852 $15 "1,100" SH SOLE None 1100 Telstra ADR ADR 87969N204 "$1,335" "100,000" SH SOLE None 100000 Telus Common Stock 87971M103 $153 "5,000" SH SOLE None 5000 Telus Common Stock 87971M202 "$3,294" "115,900" SH SOLE None 115900 Tenaris SA ADR ADR 88031M109 "$1,101" "52,500" SH SOLE None 52500 Teva Pharmaceutical Industries ADS ADR 881624209 "$4,550" "105,011" SH SOLE None 105011 Tomkins PLC ADS ADR 890030208 $736 "100,750" SH SOLE None 100750 Toronto-Dominion Bank Common Stock 891160509 $516 "14,392" SH SOLE None 14392 Total SA ADS ADR 8.92E+113 "$4,734" "85,600" SH SOLE None 85600 Toyota Motor ADS ADR 892331307 $68 "1,040" SH SOLE None 1040 Travelcenters of America Common Stock 894174101 $0 95 SH SOLE None 95 Travelers Cos Inc Common Stock 8.94E+113 $1 28 SH SOLE None 28 Trimble Navigation Common Stock 896239100 "$9,233" "427,270" SH SOLE None 427270 Turkcell Iletisim Hizmetleri ADR ADR 900111204 "$3,273" "224,500" SH SOLE None 224500 UAL Common Stock 902549807 $165 "15,000" SH SOLE None 15000 Unilever N.V. Common Stock 904784501 $81 "3,300" SH SOLE None 3300 Unilever PLC ADS ADR 904767704 "$5,792" "251,600" SH SOLE None 251600 United Parcel Service Common Stock 911312106 "$18,155" "329,140" SH SOLE None 329140 United States Steel Common Stock 912909108 "$2,344" "63,000" SH SOLE None 63000 United Technologies Common Stock 913017109 "$7,024" "131,040" SH SOLE None 131040 UnitedHealth Common Stock 91324P102 $136 "5,100" SH SOLE None 5100 UPM-Kymmene Oyj ADS ADR 915436109 $44 "3,500" SH SOLE None 3500 US Bancorp Common Stock 902973304 $36 "1,430" SH SOLE None 1430 USEC Common Stock 9.03E+112 $23 "5,100" SH SOLE None 5100 Valspar Common Stock 920355104 $724 "40,000" SH SOLE None 40000 Van Kampen Senior Income Trust Common Stock 920961109 $8 "2,990" SH SOLE None 2990 VCA Antech Common Stock 918194101 "$6,209" "312,300" SH SOLE None 312300 Verigy Common Stock Y93691106 "$1,741" "181,020" SH SOLE None 181020 Vodafone Group PLC ADS ADR 92857W209 "$3,081" "150,743" SH SOLE None 150743 Votorantim Celulose e Papel SA ADS ADR 92906p106 $63 "8,000" SH SOLE None 8000 Walgreen Common Stock 931422109 $70 "2,819" SH SOLE None 2819 Washington Banking Common Stock 937303105 $55 "6,275" SH SOLE None 6275 Wells Fargo & Co Common Stock 949746101 $39 "1,315" SH SOLE None 1315.1 Weyerhaeuser Common Stock 962166104 $924 "30,175" SH SOLE None 30175 Worthington Industries Common Stock 981811102 $12 "1,050" SH SOLE None 1050 Wyeth Common Stock 983024100 "$13,761" "366,865" SH SOLE None 366865 Xilinx Common Stock 983919101 "$3,564" "200,000" SH SOLE None 200000 "Zebra Technologies, Cl A" Common Stock 989207105 $5 231 SH SOLE None 231 Zimmer Common Stock 98956P102 "$9,135" "226,000" SH SOLE None 226000 TOTAL "$935,558"
-----END PRIVACY-ENHANCED MESSAGE-----