-----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, AjKPqyzNTCT/jsylRr2u+LMhQ26X5Xh6VOS25yPSBNEVzF3Smh7p1o5DkG9YXoEj f+azumIZNka7RQ4NYCR7uA== 0001354821-08-000005.txt : 20080512 0001354821-08-000005.hdr.sgml : 20080512 20080512084842 ACCESSION NUMBER: 0001354821-08-000005 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080331 FILED AS OF DATE: 20080512 DATE AS OF CHANGE: 20080512 EFFECTIVENESS DATE: 20080512 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEVIN CAPITAL STRATEGIES, L.P. CENTRAL INDEX KEY: 0001354821 IRS NUMBER: 870753486 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-12154 FILM NUMBER: 08820833 BUSINESS ADDRESS: STREET 1: ONE ROCKEFELLER CENTER PLAZA STREET 2: 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 11579 BUSINESS PHONE: 212-259-0800 MAIL ADDRESS: STREET 1: ONE ROCKEFELLER CENTER PLAZA STREET 2: 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 11579 13F-HR 1 lcs1q2008.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F-HR Form 13F-HR COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2008 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: Levin Capital Strategies, L.P. Address: 595 Madison Avenue, 17th Floor New York, NY 10022 Form 13F File Number: 028-12154 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: John A. Levin Title: Chairman/CEO Phone: 212-259-0800 Signature, Place, and Date of Signing: John A. Levin New York, New York May 12, 2008 Report Type (Check one only): [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).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 290 Form 13F Information Table Value Total: $2,926,456 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file nember(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE FORM 13F INFORMATION TABLE
Voting Authority -------------------------- Value Shares/ Sh/ Put/ Invstmt Other Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M CO COM 88579Y101 390 4925 SH Shared-Other 4925 ABBOTT LABS COM 002824100 1042 18900 SH Shared-Other 18900 ACCENTURE BERMUDA CL A G1150G111 96 2725 SH Sole 2725 4233 120345 SH Shared-Other 575 119770 ADVANCE AUTO PARTS COM 00751Y106 2720 79890 SH Sole 79890 AES CORP COM 00130h105 3923 235333 SH Sole 13485 221848 9973 598249 SH Shared-Other 51825 546424 AFLAC COM 001055102 325 5000 SH Shared-Other 5000 AGILENT TECHNOLOGIES COM 00846U101 29529 989921 SH Sole 258441 674640 56840 14742 494192 SH Shared-Other 357930 136262 ALCOA COM 013817101 17318 480245 SH Sole 82585 342747 54913 17868 495508 SH Shared-Other 1200 385491 108817 ALLEGHANY CORP DEL COM 017175100 535 1566 SH Shared-Other 1566 ALLEGHENY ENERGY INC COM 017361106 29024 574740 SH Sole 140522 420968 13250 34947 692018 SH Shared-Other 208773 483245 ALLIANCEBERNSTEIN HLDG UNIT LT PART 01881G106 1276 20135 SH Shared-Other 19585 550 AMERICAN BARRICK RES COM 067901108 14201 326825 SH Sole 227394 99431 AMERICAN ELECTRIC POWER COM 025537101 74503 1789638 SH Sole 301564 1294964 193110 67752 1627491 SH Shared-Other 1250 924822 701419 AMERICAN EXPRESS CO. COM 025816109 25534 584035 SH Sole 45410 423785 114840 17323 396215 SH Shared-Other 1075 305985 89155 AMERICAN INTL GROUP COM 026874107 29805 689137 SH Sole 137387 467100 84650 217407 5026757 SH Shared-Other 4833932 192825 AMERICAN ORIENTAL BIOE COM 028731107 312 38562 SH Sole 38562 AMERISOURCEBERGEN CORP COM 03073E105 1690 41241 SH Sole 33888 7353 48 1172 SH Shared-Other 1172 AMGEN INC COM 031162100 284 6800 SH Shared-Other 6800 AMR CORP COM 001765106 207 23000 SH Sole 23000 ANHEUSER BUSCH COS COM 035229103 6554 138130 SH Sole 79240 58890 4814 101456 SH Shared-Other 41261 60195 APPLIED MATLS INC COM 038222105 742 38040 SH Shared-Other 38040 AQUILA INC DEL CL A 03840P102 13745 4281981 SH Sole 677865 2817156 786960 6785 2113595 SH Shared-Other 287040 1826555 ARVINMERITOR INC COM 043353101 333 26600 SH Sole 26600 ASSISTED LIV CNCPT NEW CL A 04544X102 565 96000 SH Sole 96000 ASTRAZENECA PLC COM 046353108 2153 56685 SH Sole 46589 10096 61 1608 SH Shared-Other 1608 AT&T INC COM 00206R102 72 1880 SH Sole 1880 2904 75812 SH Shared-Other 70854 4958 AVATAR HOLDINGS INC COM 053494100 1071 24575 SH Shared-Other 24575 BANK OF NY MELLON CORP COM 064058100 54189 1298571 SH Sole 137666 896278 264627 58410 1399715 SH Shared-Other 2976 1125467 271272 BAXTER INTL INC COM 071813109 5868 101482 SH Shared-Other 1300 100182 BCE CORP. COM 05534B760 911 27021 SH Shared-Other 27021 BEARINGPOINT INC COM 074002106 503 299600 SH Sole 299600 BECTON DICKINSON COM 075887109 1914 22300 SH Sole 22300 19355 225454 SH Shared-Other 600 216854 8000 BELDEN CDT INC COM 077454106 3446 97558 SH Sole 97558 BERKSHIRE HATHAWAY INC CL B 084670207 2058 460 SH Shared-Other 210 250 BIOGEN IDEC INC COM 09062X103 274 4448 SH Shared-Other 4448 BOARDWALK PIPELIN PTNR UNIT LTD PARTN 096627104 3428 139300 SH Shared-Other 139300 BOEING CO COM 097023105 2462 33100 SH Shared-Other 33100 BORG-WARNER AUTOMOTIVE COM 099724106 1076 25000 SH Sole 25000 BP PLC SPONSORED ADR 055622104 97 1600 SH Sole 1600 8837 145701 SH Shared-Other 390 145011 300 BRISTOL MYERS-SQUIBB COM 110122108 773 36280 SH Shared-Other 33480 2800 BUNGE LIMITED COM G16962105 3658 42106 SH Sole 38628 3478 138 1593 SH Shared-Other 1593 BURLINGTON NRTHN SANTA COM 12189T104 231 2500 SH Shared-Other 2500 CABLEVISION SYS CORP CL A 12686C109 429 20000 SH Sole 20000 786 36670 SH Shared-Other 3020 33650 CAMECO CORP COM 13321L108 1054 32000 SH Shared-Other 32000 CANADIAN NATL RY CO COM 136375102 1131 23400 SH Shared-Other 23400 CANADIAN NATURAL RESOURCES COM 136385101 10128 148376 SH Sole 18000 87076 43300 22704 332605 SH Shared-Other 700 237940 93965 CATERPILLAR INC COM 149123101 30922 394967 SH Sole 42187 284480 68300 20683 264190 SH Shared-Other 50 177020 87120 CHEVRON CORP NEW COM 166764100 5756 67437 SH Shared-Other 64267 3170 CIRCUIT CITY STORE INC COM 172737108 1316 330684 SH Sole 272000 58684 37 9316 SH Shared-Other 9316 CISCO SYS INC COM 17275R102 18068 750015 SH Sole 153545 596470 6512 270310 SH Shared-Other 269710 600 CITIGROUP INC COM 172967101 35203 1643462 SH Sole 261345 1193007 189110 28085 1311177 SH Shared-Other 3850 1065217 242110 CLECO CORP NEW COM 12561W105 862 38880 SH Sole 23937 14943 2095 94462 SH Shared-Other 49760 44702 CMS ENERGY CORP COM 125896100 8032 593234 SH Sole 163763 429471 20570 1519173 SH Shared-Other 376730 1142443 CNA FINL CORP COM 126117100 469 18200 SH Shared-Other 15000 3200 CNINSURE INC SPONSORED ADR 18976M103 1543 133790 SH Sole 133790 COCA COLA CO COM 191216100 2681 44042 SH Sole 15852 28190 18483 303645 SH Shared-Other 3225 249946 50474 COMCAST CORP NEW CL A 20030N101 8912 460793 SH Sole 343303 117490 2130 110150 SH Shared-Other 110150 COMCAST CORP NEW CL A 20030N200 23046 1214843 SH Sole 147100 873989 193754 13614 717674 SH Shared-Other 1837 579487 136350 CONOCOPHILLIPS COM 20825C104 266 3484 SH Sole 3484 4883 64079 SH Shared-Other 409 62708 962 CONSTELLATION ENERGY COM 210371100 2223 25180 SH Sole 45 25135 5466 61929 SH Shared-Other 2824 59105 CORINTHIAN COLLEGES COM 218868107 723 100000 SH Sole 100000 CORNING INC COM 219350105 20710 861492 SH Sole 187687 673805 7252 301670 SH Shared-Other 282960 18710 CORPORATE EXPRESS N V SPON ADR 21989G105 3636 311000 SH Sole 311000 COSTCO COMPANIES INC COM 22160K105 4586 70590 SH Sole 50000 3780 16810 3538 54460 SH Shared-Other 20750 33710 COVIDIEN LTD COM G2552X108 765 17289 SH Shared-Other 17289 DELTA AIRLINES COM 247361702 284 33000 SH Sole 33000 DEVON ENERGY CORP COM 25179M103 337 3230 SH Sole 3230 DIAGEO PLC NEW SPON ADR 25243Q205 9231 113516 SH Sole 77976 35540 22254 273662 SH Shared-Other 1070 213637 58955 DISCOVERY HOLDING CO CL A 25468Y107 58 2714 SH Sole 2714 2971 140025 SH Shared-Other 220 139805 DISNEY WALT CO COM 254687106 1122 35751 SH Shared-Other 35351 400 DOW CHEMICAL CO COM 260543103 165 4475 SH Sole 4475 9617 260975 SH Shared-Other 1375 259600 DPL INC COM 233293109 2137 83335 SH Sole 24443 58892 5573 217374 SH Shared-Other 55693 161681 DU PONT E I DE NEMOURS COM 263534109 281 6000 SH Shared-Other 6000 DYAX CORP COM 26746E103 483 102470 SH Shared-Other 102470 DYNEGY INC NEW CL A 26817G102 35786 4535554 SH Sole 338518 3223446 973590 25789 3268542 SH Shared-Other 6600 2151136 1110806 E M C CORP MASS COM 268648102 24092 1680075 SH Sole 317935 1267470 94670 6432 448560 SH Shared-Other 430620 17940 EATON VANCE CORP COM 278265103 3466 113600 SH Shared-Other 113600 EDISON INTL COM 281020107 1724 35179 SH Sole 70 35109 4722 96328 SH Shared-Other 4393 91935 EL PASO CORP COM 28336L109 305 18332 SH Sole 18332 697 41867 SH Shared-Other 36678 5189 EMCOR GROUP INC COM 29084Q100 203 9158 SH Sole 9158 EMERSON ELEC CO COM 291011104 2419 47010 SH Sole 9280 37730 6182 120134 SH Shared-Other 45184 74950 ENTERGY CORP COM 29364G103 5998 54985 SH Sole 3406 51579 18848 172790 SH Shared-Other 12929 159861 ENZON INC COM 293904108 1034 112294 SH Sole 112294 EQUITABLE RES INC COM 294549100 1994 33859 SH Sole 4180 29679 4744 80536 SH Shared-Other 11410 69126 EXELON CORP COM 30161N101 48887 601537 SH Sole 70558 468229 62750 61266 753854 SH Shared-Other 455 303504 449895 EXXON MOBIL CORP COM 30231G102 14762 174536 SH Shared-Other 160794 13742 FIDELITY NATL FINL INC COM 31620R105 390 21285 SH Shared-Other 21285 FIDELITY NATL INFO SVC COM 31620M106 357 9355 SH Shared-Other 9355 FIRSTENERGY CORP COM 337932107 10299 150090 SH Sole 11838 138252 27101 394946 SH Shared-Other 39778 355168 FISERV INC COM 337738108 240 5000 SH Shared-Other 3000 2000 FOMENTO ECONOM MEX S A ADR 344419106 15369 367863 SH Sole 151333 127060 89470 16022 383488 SH Shared-Other 1110 288974 93404 FORMFACTOR INC COM 346375108 573 30000 SH Sole 30000 FPL GROUP INC. COM 302571104 4981 79397 SH Sole 153 79244 13210 210552 SH Shared-Other 9601 200951 FRANKLIN ELEC INC COM 353514102 854 25000 SH Sole 25000 FUELCELL ENERGY INC COM 35952H106 2438 366598 SH Shared-Other 366598 GARMIN LTD ORD COM G37260109 1051 19452 SH Sole 16000 3452 30 548 SH Shared-Other 548 GENERAL AMER INVS COM 368802104 156 4885 SH Sole 4885 543 17036 SH Shared-Other 17036 GENERAL ELECTRIC CO COM 369604103 59541 1608774 SH Sole 181971 1138927 287876 52290 1412851 SH Shared-Other 2275 1079894 330682 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 2730 64341 SH Shared-Other 64341 GLIMCHER RLTY TR SH BEN INT 379302102 421 35225 SH Sole 35225 GOODYEAR TIRE & RUBR COM 382550101 619 24000 SH Sole 24000 GOOGLE INC CL A 38259P508 3242 7360 SH Sole 5310 2050 GRACE W R & CO DEL NEW COM 38388F108 1367 59920 SH Sole 59920 GREATER CHINA FD INC COM 39167B102 53 2900 SH Sole 2900 1011 55382 SH Shared-Other 55382 GULFMARK OFFSHORE INC COM 402629109 3546 64800 SH Shared-Other 64800 HALIBURTON COM 406216101 354 9000 SH Shared-Other 8600 400 HEINEKEN NV ADR 423012202 583 20000 SH Sole 20000 HEWLETT PACKARD CO COM 428236103 1281 28060 SH Shared-Other 27100 960 HUBBELL INC CL B 443510201 2083 47672 SH Sole 47672 HUNTSMAN CORP COM 447011107 1337 56784 SH Sole 56784 INDEVUS PHARM INC COM 454072109 143 30000 SH Sole 30000 INGERSOLL-RAND CO COM G4776G101 59843 1342372 SH Sole 190067 956105 196200 29900 670700 SH Shared-Other 425760 244940 INTEL CORP COM 458140100 549 25932 SH Shared-Other 20432 5500 INTL BUS MACHINES COM 459200101 35526 308544 SH Sole 44413 238061 26070 17052 148094 SH Shared-Other 360 131855 15879 INVESCO PLC SPONSORED ADR G491BT108 1338 54920 SH Sole 54920 IROBOT CORP COM 462726100 558 32600 SH Sole 32600 ISHARES INC MSCI JAPAN COM 464286848 162 13125 SH Shared-Other 13125 J F CHINA REGION FD COM 46614T107 165 7970 SH Sole 7970 7267 351210 SH Shared-Other 351210 JOHNSON & JOHNSON COM 478160104 8897 137150 SH Sole 67960 69190 44984 693449 SH Shared-Other 3800 612053 77596 JP MORGAN CHASE & CO COM 46625H100 96 2225 SH Sole 2225 4999 116398 SH Shared-Other 400 110403 5595 KAMAN CORP COM 483548103 3149 111300 SH Sole 111300 KRAFT FOODS INC CL A 50075N104 329 10600 SH Sole 9430 1170 11208 361425 SH Shared-Other 1250 276585 83590 LATTICE SEMICONDUCTOR COM 518415104 284 100000 SH Sole 100000 LEHMAN BROS HLDGS INC COM 524908100 1830 48630 SH Sole 40000 8630 52 1370 SH Shared-Other 1370 LIBERTY GLOBAL INC SER A 530555101 63 1850 SH Sole 1850 3655 107250 SH Shared-Other 519 106459 272 LIBERTY GLOBAL INC SER C 530555309 60 1850 SH Sole 1850 3700 113910 SH Shared-Other 519 113119 272 LIBERTY MEDIA CORP SERIES A ENT COM SER A 53071M500 99 4364 SH Sole 4364 4800 212016 SH Shared-Other 32 211984 LIBERTY MEDIA HLDG CRP CAP COM SER A 53071M302 17 1091 SH Sole 1091 834 53004 SH Shared-Other 8 52996 LIBERTY MEDIA HLDG CRP INT INT COM SER A 53071M104 88 5463 SH Sole 5463 4893 303173 SH Shared-Other 1051 301557 565 LOEWS CORP COM 540424108 265 6600 SH Shared-Other 6600 LULULEMON ATHLETICA IN COM 550021109 553 19452 SH Sole 16000 3452 16 548 SH Shared-Other 548 MANNKIND CORP COM 56400P201 90 15000 SH Shared-Other 15000 MARSH & MCLENNAN COS COM 571748102 215 8810 SH Sole 8810 5631 231265 SH Shared-Other 825 229880 560 MCGRAW HILL INC COM 580645109 3765 101885 SH Sole 30000 17745 54140 14362 388677 SH Shared-Other 925 284657 103095 MCMORAN EXPLORATION CO COM 582411104 692 40000 SH Sole 40000 MEADWESTVACO CORP COM 583334107 705 25917 SH Sole 25917 MEDCO HEALTH SOLUTIONS COM 58405U102 1278 29178 SH Sole 24000 5178 42 954 SH Shared-Other 822 132 MERCK & CO INC COM 589331107 1867 49200 SH Sole 44900 4300 57 1500 SH Shared-Other 1100 400 MEREDITH CORP COM 589433101 363 9500 SH Shared-Other 9500 MICROSOFT CORP COM 594918104 13739 484120 SH Sole 100000 245290 138830 14757 519975 SH Shared-Other 1175 399500 119300 MIRANT CORP NEW COM 60467R100 2005 55099 SH Sole 20767 34332 5037 138405 SH Shared-Other 45394 93011 MOLSON COORS BREWING CL B 60871R209 8666 164856 SH Sole 164856 MOODYS CORP COM 615369105 2956 84880 SH Shared-Other 84880 MOTOROLA INC COM 620076109 15350 1650580 SH Sole 300000 922090 428490 6284 675740 SH Shared-Other 273590 402150 MURPHY OIL CORP COM 626717102 832 10128 SH Shared-Other 10128 NABORS INDUSTRIES LTD SHS COM G6359F103 810 23984 SH Shared-Other 23984 NEW YORK TIMES CL A 650111107 286 15150 SH Shared-Other 14750 400 NEWPARK RES INC COM 651718504 699 137100 SH Shared-Other 137100 NEWS CORP CL A 65248E104 234 12496 SH Sole 12496 7634 407145 SH Shared-Other 1737 401313 4095 NORTHEAST UTILS COM 664397106 760 30979 SH Sole 30979 2127 86662 SH Shared-Other 77890 8772 NORTHERN TRUST CORP COM 665859104 4483 67451 SH Sole 46351 21100 10696 160910 SH Shared-Other 6000 141660 13250 NORTHWEST AIRLS CORP COM 667280408 2974 330790 SH Sole 117000 152860 60930 213 23720 SH Shared-Other 9150 14570 NRG ENERGY INC COM 629377508 48472 1243191 SH Sole 203970 947281 91940 37578 963773 SH Shared-Other 424968 538805 OFFICE DEPOT INC COM 676220106 1086 98300 SH Sole 87500 10800 19 1700 SH Shared-Other 1700 OLIN CORP COM 680665205 593 30000 SH Sole 30000 ORACLE SYSTEMS CORP COM 68389X105 606 31000 SH Shared-Other 31000 PACKAGING CORP AMER COM 695156109 3038 136044 SH Sole 136044 PEPSICO INC COM 713448108 3567 49407 SH Shared-Other 2500 46907 PETROCHINA CO LTD SPONSORED ADR 71646E100 472 3770 SH Shared-Other 3670 100 PFIZER INC COM 717081103 6 300 SH Sole 300 5209 248876 SH Shared-Other 60 241541 7275 PG&E CORP COM 69331C108 9334 253509 SH Sole 42020 211489 28576 776101 SH Shared-Other 445 239774 535882 PHILIP MORRIS INTL INC COM 718172109 4299 85000 SH Sole 85000 34 680 SH Shared-Other 680 PHILLIPS VAN HEUSEN CORP COM 718592108 2628 69300 SH Sole 69300 PLAINS EXPL & PRODTN COM 726505100 3242 61000 SH Sole 61000 PPL CORP COM 69351T106 8805 191740 SH Sole 14300 177440 18425 401249 SH Shared-Other 45692 355557 PROCTER & GAMBLE CO COM 742718109 4231 60387 SH Shared-Other 58387 2000 PUBLIC SVC ENTERPRISES COM 744573106 4537 112890 SH Sole 217 112673 12018 299040 SH Shared-Other 13633 285407 PUGET SOUND ENERGY INC COM 745310102 232 8951 SH Sole 8951 570 22033 SH Shared-Other 19305 2728 QUANTA SVCS INC COM 74762E102 227 9785 SH Sole 9785 513 22146 SH Shared-Other 19456 2690 REDDY ICE HLDGS INC COM 75734R105 1041 79900 SH Sole 79900 RISKMETRICS GROUP INC COM 767735103 1161 60000 SH Sole 60000 ROBBINS & MYERS INC COM 770196103 816 25000 SH Sole 25000 ROYAL CARIBBEAN CRUISE COM V7780T103 640 19450 SH Sole 15982 3468 18 550 SH Shared-Other 550 ROYAL DUTCH SHELL PLC SPONS ADR 780259206 406 5888 SH Shared-Other 3200 2688 SAFEGUARD SCIENTIFICS COM 786449108 192 128750 SH Sole 128750 SAFEWAY INC COM NEW COM 786514208 18400 626900 SH Sole 337866 289034 3544 120749 SH Shared-Other 120749 SANGAMO BIOSCIENCES COM 800677106 4289 422098 SH Sole 132435 205388 84275 543 53452 SH Shared-Other 35765 17687 SAVVIS COMMUNICATIONS COM 805423308 1528 93888 SH Sole 93888 SCANA CORP NEW COM 80589M102 3742 102299 SH Sole 68397 33902 7746 211754 SH Shared-Other 1150 198884 11720 SCHERING-PLOUG CORP COM 806605101 1402 97260 SH Sole 80000 17260 84 5840 SH Shared-Other 2740 3100 SCHLUMBERGER LTD F COM 806857108 7806 89728 SH Shared-Other 89728 SECTOR SPDR TR SBI INT-ENERGY 81369Y506 267 3600 SH Shared-Other 3600 SELECT SECTOR SPDR TR SBI INT-TECH 81369Y803 219 9790 SH Shared-Other 9790 SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 217 5725 SH Shared-Other 5725 SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 299 7450 SH Shared-Other 7450 SEMPRA ENERGY COM 816851109 7466 140131 SH Sole 12570 127561 19599 367843 SH Shared-Other 40019 327824 SIEMENS A G SPONSORED ADR 826197501 8756 80370 SH Sole 20110 52780 7480 4618 42390 SH Shared-Other 29800 12590 SIERRA PAC RES NEW COM 826428104 1027 81279 SH Sole 81279 2344 185604 SH Shared-Other 162629 22975 SMART BALANCE INC COM 83169Y108 572 72410 SH Sole 72410 SMURFIT-STONE CONTAINR COM 832727101 32 4100 SH Sole 4100 928 120525 SH Shared-Other 120525 SOUTHERN UN CO NEW COM 844030106 8802 378234 SH Sole 239933 99551 38750 9246 397332 SH Shared-Other 131362 265970 SPANSION INC COM CL A 84649R101 346 125832 SH Sole 125832 SPRINT NEXTEL CORP COM FON COM 852061100 1238 185000 SH Sole 185000 STAPLES INC COM 855030102 3409 154200 SH Sole 140000 14200 12347 558425 SH Shared-Other 3300 554125 1000 STATE ST BOSTON CORP COM 857477103 2471 31281 SH Shared-Other 31281 STERLING FINANCIAL CORP COM 859319105 1460 93535 SH Shared-Other 93535 STREETTRACKS GOLD TR GOLD SHS 863307104 1240 13720 SH Shared-Other 13720 TALISMAN ENERGY INC COM 87425E103 1044 58968 SH Sole 58968 87 4890 SH Shared-Other 4890 TARGET CORP COM 87612E106 19167 378205 SH Sole 76826 301379 6378 125839 SH Shared-Other 125839 TEJON RANCH CO DEL COM 879080109 2163 57965 SH Sole 57965 6010 161052 SH Shared-Other 650 159973 429 TEMPLE INLAND INC COM 879868107 3 240 SH Sole 240 254 20000 SH Shared-Other 150 19750 100 TEMPLETON DRAGON FD COM 88018T101 14 570 SH Sole 570 1655 67676 SH Shared-Other 120 67311 245 TERRA INDS INC COM 880915103 691 19449 SH Sole 15973 3476 20 551 SH Shared-Other 551 TEXTRON INC COM 883203101 4028 72676 SH Sole 32916 39760 8017 144660 SH Shared-Other 350 97680 46630 THERMO FISHER SCIENTIFIC COM 883556102 2113 37180 SH Shared-Other 37180 TIFFANY & CO NEW COM 886547108 2 50 SH Sole 50 939 22450 SH Shared-Other 7500 14950 TIME WARNER INC COM 887317105 48 3450 SH Sole 3450 4233 301941 SH Shared-Other 4020 297546 375 TRAVELERS COMPANIES COM 89417E109 1305 27274 SH Shared-Other 210 26930 134 TRIARC COS INC CL B SER 1 895927309 69 10000 SH Shared-Other 10000 TYCO ELECTRONICS LTD COM G9144P105 1086 31629 SH Sole 29724 1905 2963 86320 SH Shared-Other 362 85721 237 TYCO INTERNATIONAL COM G9143X208 84 1905 SH Sole 1905 3819 86695 SH Shared-Other 362 86096 237 UNDER ARMOUR INC CL A 904311107 2312 63160 SH Sole 51955 11205 70 1901 SH Shared-Other 1901 UNILEVER NV ADR 904784709 52120 1545198 SH Sole 204838 1183680 156680 30549 905692 SH Shared-Other 706583 199109 UNION PAC CORP COM 907818108 376 3000 SH Shared-Other 3000 UNISOURCE ENERGY CORP COM 909205106 1988 89297 SH Sole 22933 66364 5043 226546 SH Shared-Other 54489 172057 UNITED TECHNOLOGIES COM 913017109 2061 29950 SH Sole 4850 25100 3911 56825 SH Shared-Other 23740 33085 UNIVERSAL HEALTH SVCS COM 913903100 322 6000 SH Shared-Other 6000 VALEANT PHARMACEUTICAL COM 91911X104 641 50000 SH Sole 50000 VARIAN INC COM COM 922206107 223 3843 SH Shared-Other 3843 VARIAN MED SYS INC COM 92220P105 720 15372 SH Shared-Other 15372 VARIAN SEMICONDUCTOR COM 922207105 243 8643 SH Shared-Other 8643 VERIGY LTD COM Y93691106 942 50000 SH Sole 50000 0 22 SH Shared-Other 22 VERIZON COMMUNICATIONS COM 92343V104 315 8641 SH Shared-Other 7397 1244 VIRGIN MEDIA INC COM 92769L101 3633 258209 SH Sole 258209 VISA INC CL A 92826C839 2089 33502 SH Sole 33502 249 3998 SH Shared-Other 3998 VORNADO INC COM 929042109 151 1750 SH Sole 1750 5690 66005 SH Shared-Other 100 62705 3200 WAL MART STORES INC COM 931142103 1630 30950 SH Sole 7380 23570 4356 82690 SH Shared-Other 200 32980 49510 WASTE RECOVERY INC COM 940902109 0 250679 SH Shared-Other 250679 WEATHERFORD INTL INC COM G95089101 7180 99080 SH Shared-Other 99080 WELLS FARGO & CO COM 949746101 233 8000 SH Shared-Other 8000 WILLIAM WRIGLEY CL B 982526105 1578 25115 SH Shared-Other 615 24500 WILLIAMS COS INC DEL COM 969457100 41651 1262922 SH Sole 165344 914798 182780 49743 1508278 SH Shared-Other 2800 1114976 390502 WPP GROUP PLC SPON ADR 929309409 203 3408 SH Shared-Other 3408 WRIGLEY WM JR CO COM 982526105 4949 78748 SH Shared-Other 2460 76288 WYETH COM 983024100 41155 985501 SH Sole 107399 733132 144970 24969 597920 SH Shared-Other 1000 497890 99030 XCEL ENERGY INC COM 98389B100 1073 53789 SH Sole 104 53685 2855 143122 SH Shared-Other 6526 136596 YAHOO INC COM 984332106 3472 120000 SH Sole 120000 ZIMMER HLDGS INC COM 98956P102 437 5616 SH Shared-Other 5336 280 ALZA CORP CONV 022615AC2 25 15000 PRN Shared-Other 4000 11000 DEVON ENERGY CORP NEW CONV 25179MAA1 89 56000 PRN Shared-Other 56000 FOREST CITY ENTERPRISES INC CONV 345550AH0 843 1000000 PRN Sole 1000000 INTEL CORP 2.95 12/15/2035 CONV 458140AD2 482 491000 PRN Shared-Other 491000 US BANCORP FLOATER CONV 902973AK2 209 200000 PRN Shared-Other 200000 WYETH FLOAT 1/15/2024 CONV 983024AD2 55559 55394000 PRN Sole 5420000 41070000 8904000 49481 49334000 PRN Shared-Other 147000 41936000 7251000 FREEPORT MCMORAN CONVERTIBLE PFD CONV 35671D782 119 850 SH Sole 850 6139 43710 SH Shared-Other 200 43360 150 CLARK HOLDINGS WTS EXP 2010 WTS 18145M117 23 99800 SH Sole 99800 ADVANCED MICRO 1/2010 10 PUT 81L995008 237 464 SH PUT Sole 464 8 16 SH PUT Shared-Other 16 AMERICAN INTL 4/45 PUT 67L99E107 249 900 SH PUT Sole 900 ASTRAZENECA 4/40 PUT 8YK99A147 207 827 SH PUT Sole 680 147 6 23 SH PUT Shared-Other 23 AU OPTRONICS 4/20 PUT 3V899A209 546 1949 SH PUT Sole 1577 372 15 54 SH PUT Shared-Other 54 BANK OF NY MELLON 4/45 PUT 5MM997752 1454 3727 SH PUT Sole 1380 1518 829 BUNGE LIMITED 4/90 PUT 1GH999389 619 982 SH PUT Sole 799 183 18 28 SH PUT Shared-Other 28 BUNGE LIMITED 4/95 PUT 1GH999397 707 729 SH PUT Sole 599 130 20 21 SH PUT Shared-Other 21 BUNGE LIMITED 7/120 PUT 1GH999975 297 86 SH PUT Sole 86 10 3 SH PUT Shared-Other 3 CAPITAL ONE 4/55 PUT 1NR99D780 898 1361 SH PUT Sole 1119 242 26 39 SH PUT Shared-Other 39 CAREER EDUCATN 4/15 PUT 1LZ999552 244 1040 SH PUT Sole 839 201 7 28 SH PUT Shared-Other 28 CARMAX INC 4/22.5 PUT 21N99E623 716 2047 SH PUT Sole 1709 338 18 51 SH PUT Shared-Other 51 CF INDS HLDGS 4/120 PUT 5W399K166 367 210 SH PUT Sole 171 39 10 6 SH PUT Shared-Other 6 CIRCUIT CITY 4/5 PUT 1PS99M917 350 3336 SH PUT Sole 2745 591 10 95 SH PUT Shared-Other 95 COACH INC 4/35 PUT 9QN99K536 293 598 SH PUT Sole 492 106 8 17 SH PUT Shared-Other 17 CREE INC 4/30 PUT 51499F016 220 710 SH PUT Sole 567 143 6 20 SH PUT Shared-Other 20 CROCS INC 4/24 PUT 02E99H311 204 314 SH PUT Sole 257 57 6 9 SH PUT Shared-Other 9 ELAN PLC 1/2009 30 PUT 2JN99B075 251 235 SH PUT Sole 192 43 7 7 SH PUT Shared-Other 7 ELAN PLC 4/20 PUT 2MV99E685 206 2743 SH PUT Sole 2238 505 6 77 SH PUT Shared-Other 77 EXXON MOBIL CP 4/90 PUT 95C99A213 468 875 SH PUT Sole 720 155 13 25 SH PUT Shared-Other 25 FOSSIL INC 4/35 PUT 5QF99C248 214 486 SH PUT Sole 400 86 6 14 SH PUT Shared-Other 14 GARMIN LTD 4/65 PUT 3AC993701 756 681 SH PUT Sole 560 121 21 19 SH PUT Shared-Other 19 ISHARES RS2000 4/68 PUT 96399J204 507 2912 SH PUT Sole 2364 548 15 88 SH PUT Shared-Other 88 ISHARES RS2000 4/69 PUT 41S99J161 708 3203 SH PUT Sole 2285 918 32 147 SH PUT Shared-Other 147 LEHMAN BROS 4/50 PUT 5EC99B489 504 389 SH PUT Sole 320 69 14 11 SH PUT Shared-Other 11 LEHMAN BROS 4/45 PUT 5S799F170 253 292 SH PUT Sole 240 52 7 8 SH PUT Shared-Other 8 LULULEMON ATHL 4/30 PUT 5QH99G072 264 696 SH PUT Sole 571 125 8 20 SH PUT Shared-Other 20 OFFICE DEPOT 4/12.5 PUT 7Y299G194 305 1966 SH PUT Sole 1749 217 5 34 SH PUT Shared-Other 34 SCHERING-PLOUG 4/17.50 PUT 8KA99N512 422 1361 SH PUT Sole 1119 242 12 39 SH PUT Shared-Other 39 SUNOCO INC 4/65 PUT 8AK991776 257 209 SH PUT Sole 172 37 7 6 SH PUT Shared-Other 6 TERRA INDS INC 4/40 PUT 9FJ99F403 758 1486 SH PUT Sole 1213 273 21 42 SH PUT Shared-Other 42 TRUE RELIGION 4/20 PUT 8ER991813 199 972 SH PUT Sole 799 173 6 28 SH PUT Shared-Other 28 UNDER ARMOR 4/40 PUT 13U99B529 1146 2546 SH PUT Sole 2093 453 32 72 SH PUT Shared-Other 72 UNDER ARMOR 4/45 PUT 9LW99T900 433 486 SH PUT Sole 400 86 12 14 SH PUT Shared-Other 14 US OIL GAS FD 4/85 PUT 3JV99B570 473 966 SH PUT Sole 757 209 17 34 SH PUT Shared-Other 34 UST INC 4/60 PUT 9RW99R315 702 1277 SH PUT Sole 1040 237 20 37 SH PUT Shared-Other 37 VMWARE INC 4/50 PUT 73E99B265 312 400 SH PUT Sole 400 ZUMIEZ INC 5/20 PUT 1W699H131 328 729 SH PUT Sole 599 130 9 21 SH PUT Shared-Other 21 ANADARKO PETE 4/60 CALL 5WU99M022 360 900 SH CALL Sole 900 CATERPILLAR 5/70 CALL 1FN99S721 273 300 SH CALL Sole 300 CIT GROUP INC 4/12.5 CALL 91T99E281 300 2000 SH CALL Sole 2000 CIT GROUP INC 5/7.5 CALL 2WF99D543 1500 3000 SH CALL Sole 3000 CLEARWIRE CORP 4/12.5 CALL 1WV99N221 240 800 SH CALL Sole 800 INTUIT 1/20 2009 CALL 4JR99S015 397 490 SH CALL Shared-Other 490 YAHOO INC 5/25 CALL 05W99G167 352 750 SH CALL Sole 750
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