13F-HR 1 bcmf20064q.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: 12/31/2006 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: Baltimore Capital Management, Inc. Address: 575 S. Charles St., Suite 506 Baltimore, MD 21202 Form 13F File Number: 28-11596 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 inofrmation 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: Linda Gibson Hickel Title: Vice President Phone: 410-727-4480 Signature, Place, and Date of Signing: Linda Gibson Hickel Baltimore, MD 11/02/2006 (Signature) (City,State) (Date) Report Type (Check only one.): (x) 13F HOLDINGS REPORT. ( ) 13F NOTICE. ( ) 13F COMBINATION REPORT FORM 13F SUMMARY PAGE Report Summary: Numbers of other included Managers: Form 13F Information Table Entry Total: 139 Form 13F TABLE Value Total: " $92,493,568 " FORM 13 F NAME OF TITLE OF SHRS/ SH/ PUT/ INVS OTH VOTG AUTHY ISSUER CLASS CUSIP VALUE PRMT PRN CALL DSCR MGR SOLE SHRD NONE -------------------------------- -------------------- ------------ (*$1000) ---------------------------- ABBOTT LABS COM 002824100 602 12350 SH SOLE 0 0 12350 AMER INTL GR COM 026874107 1043 14550 SH SOLE 0 0 14550 AMERICAMOVIL ADR 02364w105 434 9600 SH SOLE 0 0 9600 ANHSER BSCH COM 035229103 4442 90280 SH SOLE 0 0 90280 APACHE CORP COM 037411105 938 14100 SH SOLE 0 0 14100 AT&T COM 001957505 443 12401 SH SOLE 0 0 12401 BANCOBRDSCO ADR 059460303 387 9600 SH SOLE 0 0 9600 BANCOLOMBIAS ADR 05968l102 358 11500 SH SOLE 0 0 11500 BARRICK GOLD COM 067901108 258 8400 SH SOLE 0 0 8400 BERKSHR HTHWY CLB 084670207 2093 571 SH SOLE 0 0 571 BERKSHR HTHWY CLA 084670108 330 3 SH SOLE 0 0 3 BLCKRCK MUN TR COM 092474105 178 18200 SH SOLE 0 0 18200 BP PLC ADR 055622104 638 9506 SH SOLE 0 0 9506 BRISTOL MYERS COM 110122108 977 37125 SH SOLE 4000 0 33125 CANON ADR 138006309 399 7050 SH SOLE 0 0 7050 CEMEX ADR 151290889 1349 39805 SH SOLE 0 0 39805 CHEVRON COM 166764100 940 12784 SH SOLE 0 0 12784 CHINA LIFE COM 16939P106 202 4000 SH SOLE 0 0 4000 CNTRWDE FNCL COM 222372104 2595 61134 SH SOLE 0 0 61134 COMERICA COM 200340107 478 8150 SH SOLE 0 0 8150 CONOCPHLPS COM 20825c104 428 5950 SH SOLE 0 0 5950 D R HORTON INC COM 23331a109 3287 124083 SH SOLE 4000 0 120083 DUPONT COM 263534109 669 13744 SH SOLE 0 0 13744 DWS VALUE BLDR COM 23339j102 118 5061 SH SOLE 0 0 5061 EMBRAER ADR 29081m102 389 9400 SH SOLE 0 0 9400 EXXON MOBIL COM 30231g102 1541 20110 SH SOLE 0 0 20110 FEDEX COM 31428x106 456 4200 SH SOLE 0 0 4200 FEMEX ADR 344419106 724 6250 SH SOLE 0 0 6250 FIFTH THIRD BNC COM 316773100 338 8250 SH SOLE 3000 0 5250 FLORIDA ROCK COM 341140101 889 20650 SH SOLE 0 0 20650 FRST CMWLTH FNL COM 319829107 222 16500 SH SOLE 0 0 16500 GALLAGHER COM 363576109 780 26400 SH SOLE 0 0 26400 GANNETT COM 364730101 281 4650 SH SOLE 0 0 4650 GENRL ELCTRC COM 369604103 1762 47350 SH SOLE 0 0 47350 GENUINE PRTS COM 372460105 308 6502 SH SOLE 0 0 6502 GOL ADR 38045r107 542 18900 SH SOLE 0 0 18900 GRP AEROPORT ADR 40051e202 403 9500 SH SOLE 0 0 9500 GRUMASA COM 400131306 190 13000 SH SOLE 0 0 13000 H&R BLOCK COM 093671105 626 27150 SH SOLE 0 0 27150 HARLEY DAVIDSN COM 412822108 1900 26965 SH SOLE 0 0 26965 HB FULLER COM 359694106 284 11000 SH SOLE 0 0 11000 HEALTHCR PPTY COM 421915109 976 26500 SH SOLE 0 0 26500 HOME DEPOT COM 437076102 2760 68726 SH SOLE 0 0 68726 HOMEX ADR 25030w100 490 8300 SH SOLE 0 0 8300 HONDA MOTORS ADR 438128308 583 14750 SH SOLE 0 0 14750 ICICI BK LTD ADR 45104G104 104 2500 SH SOLE 0 0 2500 IDEARC INC COM 451663108 631 22014 SH SOLE 0 0 22014 INTEL CORP COM 458140100 600 29650 SH SOLE 0 0 29650 ISHRS CHINA25 COM 464287184 515 4625 SH SOLE 0 0 4625 ISHRS MSCI JAP COM 464286848 282 19855 SH SOLE 8700 0 11155 ISHRS S&P LAT40 COM 464287390 238 1400 SH SOLE 0 0 1400 JHNSN & JHNSN COM 478160104 1905 28862 SH SOLE 2300 0 26562 KEYCORP COM 493267108 392 10300 SH SOLE 0 0 10300 LEGG MASON COM 524901105 2336 24575 SH SOLE 0 0 24575 LIBERTY PPTY COM 531172104 305 6200 SH SOLE 0 0 6200 MARATHON OIL COM 565849106 1614 17450 SH SOLE 0 0 17450 MASCO CORP COM 574599106 1189 39800 SH SOLE 0 0 39800 MERCK & CO COM 589331107 1230 28214 SH SOLE 0 0 28214 NABORS INDUS COM g6359f103 561 18840 SH SOLE 0 0 18840 NUVNREAL EST COM 67071b108 238 8350 SH SOLE 4000 0 4350 PACCAR INC COM 693718108 1097 16900 SH SOLE 0 0 16900 PEABDY ENRGY COM 704549104 744 18400 SH SOLE 0 0 18400 PENTAIR COM 709631105 408 13000 SH SOLE 0 0 13000 PENWST ENRGY COM 707885109 504 16500 SH SOLE 4000 0 12500 PETROBRAS ADR 71654v408 911 8850 SH SOLE 0 0 8850 PFIZER COM 717081103 2268 87576 SH SOLE 4500 0 83076 PROVDNT BNKS COM 743859100 572 16080 SH SOLE 0 0 16080 RYL DTCH SHLL A ADR 780259206 2587 36550 SH SOLE 0 0 36550 RYL DTCH SHLL B ADR 780259107 250 3516 SH SOLE 0 0 3516 SOUTHWEST AIR COM 844741108 1477 96400 SH SOLE 0 0 96400 STARBUCKS COM 855244109 459 12950 SH SOLE 0 0 12950 STRTRKS GLD TR COM 863307104 1185 18750 SH SOLE 0 0 18750 STRTRKS HMBLD COM 86330e745 241 6450 SH SOLE 0 0 6450 SUNTRUST COM 867914103 405 4800 SH SOLE 0 0 4800 SUSQU BNCSHR COM 869099101 923 34350 SH SOLE 0 0 34350 T ROWE PR COM 74144t108 1760 40200 SH SOLE 2500 0 37700 TAM ADR 87484d103 1173 39100 SH SOLE 0 0 39100 TELENORTE ADR 879246106 218 14600 SH SOLE 0 0 14600 TELEVISA ADR 40049j206 389 14400 SH SOLE 0 0 14400 TEXAS INDUS COM 882491103 392 6100 SH SOLE 0 0 6100 TIFFANY & CO COM 886547108 2666 67950 SH SOLE 3000 0 64950 TMPLTN EMG MKT COM 880192109 261 19100 SH SOLE 0 0 19100 ULTRSHRT DJ30 COM 74347r867 5392 94350 SH SOLE 2000 0 92350 UNIBANCO ADR 90458e107 381 4100 SH SOLE 0 0 4100 UNITEDHEALTH COM 91324p102 661 12300 SH SOLE 0 0 12300 UNITRIN INC COM 913275103 1025 20450 SH SOLE 0 0 20450 UNTD STS OIL FD COM 91232n108 263 5100 SH SOLE 2000 0 3100 VALE DO RIO ADR 204412209 464 15600 SH SOLE 0 0 15600 VALERO ENRGY COM 91913y100 471 9200 SH SOLE 0 0 9200 VERIZON COM 92343v104 2045 54916 SH SOLE 0 0 54916 VORNADO COM 929042109 1395 11483 SH SOLE 0 0 11483 WASHNGTN MTL COM 939322103 1251 27500 SH SOLE 0 0 27500 WEINGRTN RLTY COM 948741103 816 17700 SH SOLE 0 0 17700 WERNER ENTPR COM 950755108 2414 138100 SH SOLE 0 0 138100 WILMINGTON TR COM 971807102 261 6200 SH SOLE 0 0 6200 WORTHINGTON COM 981811102 443 25000 SH SOLE 0 0 25000 AIG MAY 75 CALL 0268749eo -1 -5 SH CALL SOLE 0 0 -5 AIG FEB 70 CALL 0268749bn -9 -32 SH CALL SOLE 0 0 -32 AT&T JAN 30 CALL 00206s9af -57 -98 SH CALL SOLE 0 0 -98 HRB APR 25 CALL 0936719de -11 -202 SH CALL SOLE 0 0 -202 COP MAY 75 CALL 20825c9eo -2 -5 SH CALL SOLE 0 0 -5 CFC APR 40 CALL 2223729dh -56 -125 SH CALL SOLE 0 0 -125 CFC APR 42.5 CALL 2223729dv -34 -112 SH CALL SOLE 0 0 -112 DD APR 45 CALL 2635349di -5 -10 SH CALL SOLE 0 0 -10 FRK MAR 50 CALL 3411409cj 0 -7 SH CALL SOLE 0 0 -7 AMX JAN 45 PUT 02364w8mi 9 100 SH CALL SOLE 0 0 100 HXM JAN 55 PUT 25030w8mk 2 50 SH CALL SOLE 0 0 50 GCI FEB 45 CALL 3724609bi -3 -10 SH CALL SOLE 0 0 -10 GOL JUL 35 CALL 38045r9gg -1 -5 SH CALL SOLE 0 0 -5 TV FEB 30 PUT 40049j8nf 29 100 SH PUT SOLE 0 0 100 MRO APR 100 CALL 5658499dt -7 -20 SH CALL SOLE 0 0 -20 MRK APR 47.5 CALL 5893319dw -1 -25 SH CALL SOLE 0 0 -25 PWE JUN 35 CALL 7078859fg -2 -45 SH CALL SOLE 0 0 -45 RDSA APR 70 CALL 7802599dn -27 -83 SH CALL SOLE 0 0 -83 LUV JUN 17.5 CALL 8447419fw -19 -344 SH CALL SOLE 0 0 -344 SBUX APR 40 CALL 8552449dh -1 -10 SH CALL SOLE 0 0 -10 STI APR 80 CALL 8679149dp -14 -23 SH CALL SOLE 0 0 -23 TXI JAN 60 CALL 8824919al -9 -18 SH CALL SOLE 0 0 -18 TIF FEB 40 CALL 8865479bh -8 -68 SH CALL SOLE 0 0 -68 UNH JUN 55 CALL 91324p9fk -5 -15 SH CALL SOLE 0 0 -15 VZ+5 IAR APR 40 CALL 92343w9dh -21 -234 SH CALL SOLE 0 0 -234 WM APR 45 CALL 9393229di -22 -109 SH CALL SOLE 0 0 -109 WM JUL 47.5 CALL 9393229gw -4 -32 SH CALL SOLE 0 0 -32 WOR MAR 22.5 CALL 9818119cx -1 -93 SH CALL SOLE 0 0 -93 FRK MAR 55 CALL 3411409ck 0 -20 SH CALL SOLE 0 0 -20 AJG JUL 30 CALL 3635769gf -8 -67 SH CALL SOLE 0 0 -67 GE JUN 40 CALL 3696049fh -3 -45 SH CALL SOLE 0 0 -45 MRK APR 45 CALL 5893319di -1 -8 SH CALL SOLE 0 0 -8 BTU JUN 55 CALL 7045499fk -6 -70 SH CALL SOLE 0 0 -70 TXI APR 70 CALL 8824919dn -13 -40 SH CALL SOLE 0 0 -40 TIF MAY 45 CALL 8865479ei -3 -31 SH CALL SOLE 0 0 -31 VLO JUN 65 CALL 91913y9fm -4 -32 SH CALL SOLE 0 0 -32 VNO MAR 125 CALL 9290429ce -4 -18 SH CALL SOLE 0 0 -18 CSTCOZROCV 8/17 NOTE 22160qac6 444 370000 PRN SOLE 0 0 370000 DEVON4.95% 8/08 DEB 25179mab9 797 575000 PRN SOLE 0 0 575000 HP SB ZRO 10/17 LYON 428236ac7 488 685000 PRN SOLE 0 0 685000 MDTRNC1.25%9/21 DEB 585055ab2 200 200000 PRN SOLE 0 0 200000 NXTL 5.25% 1/10 NOTE 65332vay9 196 200000 PRN SOLE 0 0 200000 SPRCRZROCV10/24 DEB 817315Aw4 349 325000 PRN SOLE 0 0 325000