0001344717-12-000001.txt : 20120214 0001344717-12-000001.hdr.sgml : 20120214 20120214114230 ACCESSION NUMBER: 0001344717-12-000001 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 EFFECTIVENESS DATE: 20120214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Estabrook Capital Management CENTRAL INDEX KEY: 0001344717 IRS NUMBER: 200232649 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11540 FILM NUMBER: 12604848 BUSINESS ADDRESS: STREET 1: 875 THIRD AVENUE 15TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-605-5570 MAIL ADDRESS: STREET 1: 875 THIRD AVENUE 15TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: Grove Creek Asset Management DATE OF NAME CHANGE: 20051117 13F-HR 1 sec13fq42011.txt United States Securities and Exchange Commission Washington, D.C. 20549 Form 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: December 31, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment(Check only one.): [ ] is a restatement. [ ] adds a new holdings entries. Institutional Investment Manager Filing this Report: Name: Estabrook Capital Management Address: 875 Third Avenue, 15th Floor New York, NY 10022 Form 13F File Number: 28-11540 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: Dave Foley Title: Vice President Phone: 212-605-5570 Signature, Place, and Date of Signing Dave Foley New York, NY February 14, 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: 212 Form 13F Information Table Value Total: $1,600.1 (thousands) List of Other Included Managers: NONE FORM 13F INFORMATION TABLE ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 12/31/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ 3M COMPANY COM COMMON 88579Y101 4,870,945 59,598 X 38,825 0 20,773 A T & T INC COMMON 00206R102 16,973,201 561,283 X 335,183 0 226,100 ABBOTT LABS COMMON 002824100 2,860,308 50,868 X 26,748 0 24,120 ACE LTD SHS COMMON H0023R105 505,565 7,210 X 6,610 0 600 ADVANT-E CORP COM COMMON 00761J107 4,420 20,000 X 0 0 20,000 AFLAC INC COMMON 001055102 3,623,371 83,758 X 58,258 0 25,500 AIR PRODS & CHEMS INC COMMON 009158106 474,934 5,575 X 375 0 5,200 ALLEGHENY TECHNOLOGIE COMMON 01741R102 11,214,358 234,610 X 148,261 0 86,349 ALLSTATE CORP COMMON 020002101 1,829,563 66,748 X 55,792 0 10,956 ALTRIA GROUP INC COM COMMON 02209S103 212,709 7,174 X 2,424 0 4,750 AMERICA MOVIL S A DE COMMON 02364W105 474,600 21,000 X 0 0 21,000 AMERICAN EXPRESS COMP COMMON 025816109 6,936,537 147,054 X 115,244 0 31,810 AMERICAN INTL CORP PF PREFERR 026874800 203,100 10,000 X 10,000 0 0 AMERICAN TOWER CORP C COMMON 029912201 210,035 3,500 X 500 0 3,000 AMGEN INC COMMON 031162100 459,037 7,149 X 2,838 0 4,311 ANALOG DEVICES INC COMMON 032654105 715,600 20,000 X 20,000 0 0 APACHE CORP COMMON 037411105 2,075,278 22,911 X 22,285 0 626 APCO OIL AND GAS INTE COMMON G0471F109 3,266,675 39,974 X 33,174 0 6,800 APPLE COMPUTER INC COMMON 037833100 2,824,470 6,974 X 4,568 0 2,406 BABCOCK & WILCOX CO N COMMON 05615F102 499,601 20,696 X 12,727 0 7,969 BAKER HUGHES INC COMMON 057224107 2,558,513 52,601 X 21,360 0 31,241 BANCO LATINOAMER EXPO COMMON P16994132 184,575 11,500 X 11,000 0 500 BANK NOVA SCOTIA HALI COMMON 064149107 7,241,228 145,377 X 65,367 0 80,010 BANK OF AMERICA COMMON 060505104 1,726,972 310,606 X 163,684 0 146,922 BANK OF AMERICA CORPO PREFERR 060505559 362,340 16,500 X 16,300 0 200 BANK OF NEW YORK MELL COMMON 064058100 2,463,066 123,710 X 92,567 0 31,143 BCE INC COM NEW COMMON 05534B760 14,144,048 339,430 X 177,040 0 162,390 BECTON DICKINSON & CO COMMON 075887109 7,990,482 106,939 X 78,823 0 28,116 BERKSHIRE HATHAWAY IN COMMON 084670108 573,775 5 X 2 0 3 BERKSHIRE HATHAWAY IN COMMON 084670702 2,717,196 35,612 X 27,537 0 8,075 BHP BILLITON LTD SPON COMMON 088606108 1,439,439 20,380 X 5,355 0 15,025 BIOGEN IDEC INC COMMON 09062X103 2,256,025 20,500 X 20,000 0 500 BORG WARNER AUTOMOTIV COMMON 099724106 1,455,694 22,838 X 18,663 0 4,175 BP AMOCO ADS COMMON 055622104 347,092 8,121 X 8,121 0 0 BRISTOL MYERS SQUIBB COMMON 110122108 1,380,210 39,166 X 31,350 0 7,816 BUNGE LIMITED COM COMMON G16962105 2,008,750 35,118 X 22,753 0 12,365 CABOT OIL & GAS CORP COMMON 127097103 6,668,195 175,710 X 92,220 0 83,490 CANADIAN NATL RY CO COMMON 136375102 7,934,953 101,005 X 47,455 0 53,550 CANADIAN PAC RY LTD C COMMON 13645T100 13,465,518 198,988 X 145,326 0 53,662 CARDINAL HEALTH INC. COMMON 14149Y108 706,045 17,386 X 10,350 0 7,036 CATERPILLAR TRACTOR COMMON 149123101 9,761,606 107,744 X 75,674 0 32,070 CENOVUS ENERGY INC CO COMMON 15135U109 5,256,091 158,316 X 115,125 0 43,191 CHESAPEAKE ENERGY COR COMMON 165167107 444,641 19,948 X 17,768 0 2,180 CHEVRON CORPORATION COMMON 166764100 21,615,498 203,153 X 111,600 0 91,553 CHUBB CORP COMMON 171232101 6,390,321 92,319 X 77,638 0 14,681
ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 12/31/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ CISCO SYS INC COMMON 17275R102 19,524,574 1,079,899 X 653,658 0 426,241 CITIGROUP CAPITAL 7.8 PREFERR 173080201 1,177,912 45,200 X 45,200 0 0 CITIGROUP INC COMMON 172967424 2,875,362 109,288 X 56,106 0 53,182 CLIFFS NATURAL RESOUR COMMON 18683K101 8,323,164 133,491 X 76,845 0 56,646 CNOOC LTD SPONSORED A COMMON 126132109 366,828 2,100 X 2,100 0 0 COACH INC COM COMMON 189754104 400,728 6,565 X 565 0 6,000 COCA COLA CO COMMON 191216100 1,275,973 18,236 X 11,511 0 6,725 COGNIZANT TECHNLGY SL COMMON 192446102 257,240 4,000 X 0 0 4,000 COLGATE PALMOLIVE CO COMMON 194162103 321,055 3,475 X 2,025 0 1,450 COLUMBIA LABS INC COMMON 197779101 30,000 12,000 X 12,000 0 0 CONOCOPHILLIPS COMMON 20825C104 47,512,151 652,013 X 382,994 0 269,018 CONSOL ENERGY INC COM COMMON 20854P109 20,769,888 565,937 X 355,182 0 210,755 CORE LABORATORIES N V COMMON N22717107 2,200,375 19,310 X 14,600 0 4,710 CORNING INC COMMON 219350105 9,802,431 755,195 X 457,610 0 297,585 CORRECTIONS CORP AMER COMMON 22025Y407 207,774 10,200 X 0 0 10,200 COSTCO WHOLESALE CORP COMMON 22160K105 26,922,108 323,117 X 199,735 0 123,382 COVIDIEN PLC COMMON G2554F113 5,404,126 120,065 X 83,925 0 36,140 CSX CORP COMMON 126408103 255,353 12,125 X 12,125 0 0 DEERE & CO. COMMON 244199105 556,456 7,194 X 4,394 0 2,800 DOMINION RES INC VA N COMMON 25746U109 2,437,540 45,922 X 41,776 0 4,146 DOVER CORP COMMON 260003108 21,498,121 370,338 X 231,777 0 138,561 DOW CHEMICAL CORP COMMON 260543103 11,354,304 394,795 X 200,195 0 194,600 DTC ENERGY 6.500% 00/ PREFERR 233331602 268,600 10,000 X 10,000 0 0 DU PONT E I DE NEMOUR COMMON 263534109 42,630,016 931,193 X 570,674 0 360,519 DUKE ENERGY CORP COMMON 26441C105 6,132,940 278,770 X 162,462 0 116,308 E M C CORP MASS COMMON 268648102 10,042,982 466,248 X 376,532 0 89,716 EATON CORP COMMON 278058102 37,308,774 857,082 X 492,034 0 365,048 EBAY INC COMMON 278642103 1,531,665 50,500 X 42,000 0 8,500 EDISON INTERNATIONAL COMMON 281020107 233,744 5,646 X 5,646 0 0 EL PASO CORPORATION COMMON 28336L109 755,917 28,450 X 5,500 0 22,950 EMERSON ELEC CO COMMON 291011104 39,836,547 855,045 X 499,215 0 355,830 ENCANA CORP COM COMMON 292505104 3,308,124 178,528 X 154,302 0 24,226 EOG RESOURCES INC. COMMON 26875P101 1,989,606 20,197 X 17,380 0 2,817 EQT CORP COM COMMON 26884L109 11,553,348 210,866 X 118,861 0 92,005 EXELON CORP COMMON 30161N101 1,712,942 39,496 X 19,580 0 19,916 EXXON MOBIL CORPORATI COMMON 30231G102 21,475,858 253,373 X 141,397 0 111,976 FACTSET RESH SYS INC COMMON 303075105 4,550,692 52,139 X 39,984 0 12,155 FEDEX CORP COMMON 31428X106 5,086,260 60,906 X 46,415 0 14,491 FORD MTR CO DEL PAR $ COMMON 345370860 201,750 18,750 X 250 0 18,500 FREEPORT MCMORAN COPP COMMON 35671D857 5,676,587 154,297 X 115,155 0 39,142 FRONTIER COMMUNICATIO COMMON 35906A108 85,917 16,683 X 14,451 0 2,232 GENERAL ELECTRIC COMP COMMON 369604103 46,362,560 2,588,641 X 1,525,431 0 1,063,210 GENERAL MILLS INC COMMON 370334104 858,995 21,257 X 14,057 0 7,200 GENL ELEC CAP CORPPFD PREFERR 369622527 1,061,502 40,300 X 40,000 0 300 GLAXO PLC COMMON 37733W105 13,462,266 295,031 X 162,164 0 132,867
ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 12/31/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ GOLDCORP INC NEW COM COMMON 380956409 9,790,711 221,259 X 110,556 0 110,703 GOLDMAN SACHS GROUP I COMMON 38141G104 485,428 5,368 X 5,368 0 0 GOLDMAN SACHS PFD 6.0 PREFERR 73941X577 672,525 31,500 X 31,500 0 0 GOOGLE INC CL A COMMON 38259P508 415,314 643 X 195 0 448 GRAINGER W W INC COMMON 384802104 756,248 4,040 X 2,000 0 2,040 GREATER CHINA FD INC MUTUAL 39167B102 119,823 11,899 X 0 0 11,899 GULFMARK OFFSHORE INC COMMON 402629208 37,412,678 890,566 X 560,699 0 329,867 HALLIBURTON CO COMMON 406216101 1,194,011 34,599 X 21,915 0 12,684 HEWLETT PACKARD CO. COMMON 428236103 2,886,485 112,053 X 47,537 0 64,516 HOME DEPOT INC COMMON 437076102 855,220 20,343 X 15,860 0 4,483 HONEYWELL INTERNATION COMMON 438516106 43,336,479 797,359 X 458,639 0 338,720 HSBC FINANCE CORP PER PREFERR 40429C607 892,500 42,000 X 40,000 0 2,000 HUDSON CITY BANCORP I COMMON 443683107 137,813 22,050 X 22,050 0 0 HUMANA INC COMMON 444859102 1,117,028 12,750 X 11,088 0 1,662 INGERSOLL-RAND PLC COMMON G47791101 456,562 14,984 X 12,684 0 2,300 INTEL CORPORATION COMMON 458140100 10,120,083 417,323 X 339,358 0 77,965 INTERNATIONAL BUSINES COMMON 459200101 59,990,157 326,246 X 198,176 0 128,070 ITAU UNIBANCO BANCO B COMMON 465562106 370,959 19,987 X 2,525 0 17,462 J.P. MORGAN CHASE & C COMMON 46625H100 29,856,804 897,949 X 591,112 0 306,837 JDS UNIPHASE CORP COMMON 46612J507 156,600 15,000 X 0 0 15,000 JOHNSON & JOHNSON COMMON 478160104 38,298,523 583,997 X 331,453 0 252,544 JPM CHASE CAPITAL XXV PREFERR 48124Y204 1,945,138 76,250 X 69,800 0 6,450 KINDER MORGAN INC DEL COMMON 49456B101 12,374,995 384,675 X 185,835 0 198,840 LA CORTEZ ENERGY INC COMMON 50255M108 1,650 15,000 X 15,000 0 0 LEGACY RESERVES LP UN COMMON 524707304 1,012,404 35,850 X 13,550 0 22,300 LILLY ELI & CO COMMON 532457108 1,393,091 33,520 X 18,675 0 14,845 M & T BK CORP COMMON 55261F104 730,956 9,575 X 8,300 0 1,275 MACYS INC COM COMMON 55616P104 1,575,629 48,963 X 40,508 0 8,455 MARATHON OIL CORP COM COMMON 565849106 5,314,847 181,580 X 100,830 0 80,750 MCDERMOTT INTERNATION COMMON 580037109 1,504,990 130,755 X 61,284 0 69,471 MCDONALDS CORP COMMON 580135101 1,729,689 17,240 X 340 0 16,900 MERCK & COMPANY COMMON 58933Y105 2,980,977 79,071 X 51,680 0 27,391 MERRILL LYNCH CAP TRU PREFERR 59024T203 373,200 20,000 X 20,000 0 0 MICROSOFT CORPORATION COMMON 594918104 39,245,991 1,511,787 X 938,523 0 573,264 MINDRAY MEDICAL INTL COMMON 602675100 8,344,051 325,431 X 193,305 0 132,126 MONSANTO CO COMMON 61166W101 1,642,791 23,445 X 17,535 0 5,910 MOODYS CORP COMMON 615369105 238,791 7,090 X 1,090 0 6,000 MORGAN STANLEY 6.45% PREFERR 61753R200 631,040 29,000 X 28,000 0 1,000 NATIONAL CITY CAP TR PREFERR 63540X201 255,900 10,000 X 10,000 0 0 NATIONAL FUEL GAS CO COMMON 636180101 23,487,775 422,594 X 233,194 0 189,400 NATIONAL-OILWELL INC COMMON 637071101 32,920,045 484,190 X 304,144 0 180,045 NESTLE ADR COMMON 641069406 3,945,099 68,316 X 48,515 0 19,801 NEWMONT MNG CORP COMMON 651639106 2,237,773 37,290 X 27,580 0 9,710 NEXEN INC COM COMMON 65334H102 477,300 30,000 X 30,000 0 0 NEXTERA ENERGY INC CO COMMON 65339F101 19,647,194 322,720 X 200,883 0 121,837
ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 12/31/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ NOKIA CORP COMMON 654902204 1,267,496 262,966 X 201,850 0 61,116 NORDSTROM INC COMMON 655664100 609,643 12,264 X 5,800 0 6,464 NORFOLK SOUTHN CORP COMMON 655844108 27,545,525 378,061 X 224,777 0 153,284 NORTHROP GRUMMAN CORP COMMON 666807102 875,680 14,974 X 14,908 0 66 NUCOR CORP COMMON 670346105 243,395 6,151 X 151 0 6,000 NVIDIA CORP COM COMMON 67066G104 226,611 16,350 X 0 0 16,350 OMNICOM GROUP COMMON 681919106 344,737 7,733 X 7,733 0 0 ORACLE SYS CORP COMMON 68389X105 15,155,046 590,840 X 381,236 0 209,604 PATRIOT TRANSN HLDG I COMMON 70337B102 5,053,236 232,868 X 206,568 0 26,300 PAYCHEX INC COMMON 704326107 343,254 11,400 X 2,000 0 9,400 PEOPLES UNITED FINANC COMMON 712704105 2,528,546 196,774 X 119,907 0 76,867 PEPSICO INC COMMON 713448108 1,527,642 23,024 X 10,924 0 12,100 PETROBRAS BRASILEIRO COMMON 71654V101 1,227,470 52,255 X 3,030 0 49,225 PFIZER INC COMMON 717081103 14,812,257 684,485 X 405,047 0 279,438 PNC FINANCIAL GROUP COMMON 693475105 34,009,520 589,726 X 319,489 0 270,237 POTASH CORP SASK INC COMMON 73755L107 1,718,197 41,623 X 31,977 0 9,646 PPG INDS INC COMMON 693506107 748,989 8,971 X 7,386 0 1,585 PRAXAIR INC COMMON 74005P104 37,840,038 353,976 X 197,782 0 156,194 PROCTER & GAMBLE CO COMMON 742718109 12,625,468 189,259 X 128,672 0 60,587 PROGRESS ENERGY COMMON 743263105 240,886 4,300 X 2,300 0 2,000 PUBLIC STORAGE INC COMMON 74460D109 289,761 2,155 X 2,155 0 0 QEP RES INC COM COMMON 74733V100 11,424,510 389,915 X 217,673 0 172,242 QUALCOMM INC COMMON 747525103 1,044,332 19,092 X 4,371 0 14,721 QUESTAR CORP COMMON 748356102 15,324,095 771,606 X 438,325 0 333,281 RANGE RES CORP COM COMMON 75281A109 30,895,424 498,796 X 292,919 0 205,877 RAYTHEON CO NEW COM COMMON 755111507 383,944 7,936 X 7,434 0 502 REGIONS FINANCIAL COR COMMON 7591EP100 48,225 11,215 X 6,746 0 4,469 RELM WIRELESS CORP CO COMMON 759525108 16,200 14,727 X 14,727 0 0 RENAISSANCERE HLDGS L COMMON G7496G103 2,645,787 35,576 X 32,875 0 2,701 ROCHE HLDG LTD SPONSO COMMON 771195104 445,457 10,466 X 10,000 0 466 ROYAL DUTCH SHELL PLC COMMON 780259107 25,342,342 333,408 X 204,063 0 129,345 ROYAL DUTCH SHELL PLC COMMON 780259206 1,562,208 21,374 X 13,758 0 7,615 SANOFI-AVENTIS ADR COMMON 80105N105 1,626,286 44,507 X 31,634 0 12,873 SCHLUMBERGER COMMON 806857108 30,721,876 449,742 X 268,257 0 181,485 SENSATA TECHNOLOGIES COMMON N7902X106 210,240 8,000 X 0 0 8,000 SONOCO PRODUCTS COMMON 835495102 3,635,521 110,301 X 93,364 0 16,937 SPDR TR UNIT SER 1 COMMON 78462F103 254,138 2,025 X X 1,010 50 965 SPECTRA ENERGY CORP C COMMON 847560109 37,114,266 1,206,968 X 730,134 0 476,834 STANLEY BLACK AND DEC COMMON 854502101 251,337 3,718 X 350 0 3,368 STAPLES INC COMMON 855030102 159,735 11,500 X 2,000 0 9,500 STRYKER CORP COMMON 863667101 3,059,651 61,550 X 46,675 0 14,875 SUNCOR ENERGY INC COMMON 867224107 295,508 10,250 X 4,250 0 6,000 SUPERIOR ENERGY SVCS COMMON 868157108 2,544,242 89,460 X 78,360 0 11,100 SYSCO CORP COMMON 871829107 368,473 12,563 X 263 0 12,300 TARGET CORP COMMON 87612E106 2,898,284 56,585 X 29,253 0 27,332
ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 12/31/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ TECO ENERGY INC COMMON 872375100 2,406,855 125,750 X 102,450 0 23,300 TEVA PHARMACEUTICAL I COMMON 881624209 1,791,984 44,400 X 32,165 0 12,235 TEXAS INSTRUMENTS INC COMMON 882508104 4,472,053 153,626 X 78,529 0 75,097 TIFFANY & CO NEW COMMON 886547108 5,543,312 83,660 X 75,825 0 7,835 TORONTO DOMINION BK O COMMON 891160509 5,962,435 79,701 X 27,487 0 52,214 TRANSCANADA CORP COM COMMON 89353D107 30,310,430 694,079 X 424,283 0 269,796 TRAVELERS COMPANIES I COMMON 89417E109 860,154 14,537 X 13,265 0 1,272 U S BANCORP COMMON 902973304 15,239,889 563,397 X 347,543 0 215,854 UNILEVER PLC ADR SPON COMMON 904767704 246,707 7,360 X 5,380 0 1,980 UNION PAC CORP COMMON 907818108 36,954,203 348,822 X 243,764 0 105,058 UNITED TECHNOLOGIES C COMMON 913017109 29,730,582 406,767 X 236,189 0 170,578 UNITEDHEALTH GROUP IN COMMON 91324P102 3,512,732 69,312 X 65,514 0 3,798 US CELLULAR CORP 6.95 PREFERR 911684405 346,060 13,000 X 13,000 0 0 V F CORP COMMON 918204108 1,575,438 12,406 X 8,000 0 4,406 VALE S A ADR COMMON 91912E105 574,667 26,791 X 16,315 0 10,476 VALLEY NATL BANCORP COMMON 919794107 127,844 10,335 X 0 0 10,335 VERIZON COMMUNICATION COMMON 92343V104 29,007,497 723,018 X 454,473 0 268,546 VODAFONE GROUP INC COMMON 92857W209 668,992 23,867 X 12,717 0 11,150 VULCAN MATERIALS CO COMMON 929160109 433,401 11,014 X 7,121 0 3,893 WACHOVIA CAP TRUST TR PREFERR 92978U207 244,681 9,725 X 2,000 0 7,725 WAL MART STORES INC COMMON 931142103 476,885 7,980 X 4,030 0 3,950 WALGREEN CO COMMON 931422109 216,543 6,550 X 1,400 0 5,150 WALTER INDS INC COMMON 93317Q105 1,308,702 21,610 X 16,695 0 4,915 WASTE MANAGEMENT INC COMMON 94106L109 1,746,649 53,398 X 43,932 0 9,466 WEATHERFORD INTERNATI COMMON H27013103 8,430,429 575,849 X 318,737 0 257,112 WELLS FARGO NEW COMMON 949746101 21,494,082 779,901 X 515,656 0 264,245 WESTERN UN CO COM COMMON 959802109 1,122,314 61,463 X 54,714 0 6,749 WHOLE FOODS MKT INC COMMON 966837106 306,152 4,400 X 0 0 4,400 WILLIAMS CO COMMON 969457100 38,420,487 1,163,552 X 651,812 0 511,740 WIPRO LTD SPON ADR 1 COMMON 97651M109 163,040 16,000 X 0 0 16,000 XCEL ENERGY INC COMMON 98389B100 283,973 10,274 X 6,689 0 3,585 ZIMMER HLDGS INC COMMON 98956P102 307,646 5,759 X 5,340 0 419 TOTAL 1,600,053,190