X0202 4 2006-05-25 0000878520 SWS GROUP INC SWS 0001182222 COBB BRODIE L 1201 ELM STREET SUITE 3500 DALLAS TX 75270 1 Common Stock $.10 Par Value 2006-05-25 4 S 0 100 23.52 D 39900 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 200 23.59 D 39700 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 200 23.71 D 39500 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 200 23.63 D 39300 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 300 23.66 D 39000 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 300 23.74 D 38700 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 300 23.51 D 38400 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 400 23.72 D 38000 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 400 23.55 D 37600 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 400 23.62 D 37200 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 600 23.57 D 36600 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 700 23.45 D 35900 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 1300 23.75 D 34600 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 2000 23.64 D 32600 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 2006-05-25 4 S 0 2600 23.5 D 30000 I By Self as Trustee for the BC Fifteen Year 2004 GRAT Common Stock $.10 Par Value 104139 I By Self as Trustee for the BC Ten Year 2004 GRAT Common Stock $.10 Par Value 1815 D Common Stock $.10 Par Value 708389 I Family Partnership Allen R. Tubb, Power of Attorney 2006-05-26