13F-HR 1 inftable360.txt COVER PAGE, INFORMATION TABLE & SUMMARY PAGE FORM 13F FORM 13F COVER PAGE UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report for the Calendar Year or Quarter Ended: 12-31-2010 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: AMBS Investment Counsel, LLC Address: 625 Kenmoor SE Suite 307 Grand Rapids, MI 49546 13F File Number: 028-03412 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 here in 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: Kathleen A. Maciejewski Title: Chief Compliance Officer Phone: 616-949-8160 Signature, Place, and Date of Signing: Kathleen A. Maciejewski, Grand Rapids, MI, 02-02-2011 Report Type (Check only one): [x] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M Co. COM 88579Y101 9182 106395.000SH SOLE 95500.000 10895.000 AT&T COM 00206R102 8298 282425.000SH SOLE 253687.000 28738.000 Abbott Laboratories COM 002824100 6191 129216.000SH SOLE 117881.000 11335.000 Advance Auto Parts COM 00751Y106 6775 102415.000SH SOLE 92565.000 9850.000 Aecom Technology Corp. COM 00766T100 6125 219000.000SH SOLE 197925.000 21075.000 Anadarko Petroleum Corp COM 032511107 9880 129729.000SH SOLE 120499.000 9230.000 Apache Corp. COM 037411105 3734 31320.000SH SOLE 27920.000 3400.000 Bank of America Corp COM 060505104 3443 258110.000SH SOLE 244435.000 13675.000 Bard, C.R. COM 067383109 271 2958.000 SH SOLE 2958.000 Barrick Gold Corp. COM 067901108 5934 111580.000SH SOLE 99775.000 11805.000 Becton Dickinson & Co. COM 075887109 6884 81450.000SH SOLE 75985.000 5465.000 Bemis Co COM 081437105 6130 187690.000SH SOLE 170565.000 17125.000 Berkshire Hathaway Cl B COM 084670207 471 5882.000 SH SOLE 2100.000 3782.000 Capital One Financial Corporat COM 14040H105 6920 162605.000SH SOLE 148620.000 13985.000 Cartier Resources Inc. COM 146772108 4 10000.000SH SOLE 10000.000 Chevron Corporation COM 166764100 7953 87160.082SH SOLE 80450.082 6710.000 Cisco Systems Inc COM 17275R102 7161 353985.000SH SOLE 322585.000 31400.000 Coca-Cola Company COM 191216100 4450 67655.000SH SOLE 52540.000 15115.000 Colgate Palmolive COM 194162103 396 4925.000 SH SOLE 3725.000 1200.000 Comerica Inc COM 200340107 215 5100.000 SH SOLE 5100.000 Conagra Foods Inc. COM 205887102 6420 284325.000SH SOLE 258295.000 26030.000 Dejour Enterprise Ltd. COM 244866208 10 30000.000SH SOLE 30000.000 Dow Chemical COM 260543103 10093 295645.000SH SOLE 267615.000 28030.000 Doxa Energy Ltd. COM 261223101 15 20000.000SH SOLE 20000.000 Duncan Energy Partners LP COM 265026104 237 7400.000 SH SOLE 7400.000 ECU Silver Mining Inc. COM 26830P105 13 10000.000SH SOLE 10000.000 EMC Corp. COM 268648102 5892 257300.000SH SOLE 221205.000 36095.000 Encanto Potash Corp COM 29251N104 13 30000.000SH SOLE 30000.000 Exxon Mobil Corporation COM 30231G102 1805 24682.000SH SOLE 13370.000 11312.000 FedEx Corporation COM 31428X106 9322 100225.000SH SOLE 90765.000 9460.000 General Electric COM 369604103 7343 401493.588SH SOLE 347768.588 53725.000 General Mills COM 370334104 7622 214175.000SH SOLE 193495.000 20680.000 Goldcorp, Inc. COM 380956409 993 21600.000SH SOLE 21600.000 Golden Phoenix Minerals, Inc. COM 381149103 11 50000.000SH SOLE 50000.000 Golden Predator Royalty & Deve COM 38116K106 15 20000.000SH SOLE 20000.000 Grainger W.W. COM 384802104 635 4600.000 SH SOLE 600.000 4000.000 Great Basin Gold Ltd. COM 390124105 74 25000.000SH SOLE 25000.000 Hathor Exploration Limited COM 419018106 31 10000.000SH SOLE 10000.000 Hecla Mining Co. COM 422704106 281 25000.000SH SOLE 25000.000 Hewlett Packard Company COM 428236103 9527 226303.527SH SOLE 204589.527 21714.000 Honeywell International, Inc. COM 438516106 276 5200.000 SH SOLE 5200.000 IBM COM 459200101 5938 40460.743SH SOLE 34875.743 5585.000 JPMorgan Chase & Co. COM 46625H100 9826 231646.000SH SOLE 208806.000 22840.000 Kaminak Gold Corp. COM 48356P202 30 10000.000SH SOLE 10000.000 Keycorp New COM 493267108 6248 706015.000SH SOLE 639425.000 66590.000 Kodiak Oil & Gas Corporation COM 50015Q100 66 10000.000SH SOLE 10000.000 Kohl's Corp. COM 500255104 8405 154680.000SH SOLE 141035.000 13645.000 Majescor Resources Inc COM 760960203 13 50000.000SH SOLE 50000.000 Marsh & McLennan COM 571748102 6938 253775.000SH SOLE 231540.000 22235.000 McDonalds Corp COM 580135101 798 10395.000SH SOLE 6195.000 4200.000 Medtronic Inc COM 585055106 5640 152050.000SH SOLE 139185.000 12865.000 Merck & Company COM 58933Y105 286 7935.000 SH SOLE 1135.000 6800.000 Morgan Stanley COM 617446448 6674 245280.000SH SOLE 223270.000 22010.000 Mylan Labs COM 628530107 6064 286970.000SH SOLE 259885.000 27085.000 Newmont Mining Corp. COM 651639106 3577 58237.000SH SOLE 47262.000 10975.000 Oilsands Quest Inc. COM 678046103 4 10000.000SH SOLE 10000.000 Oracle Corp. COM 68389X105 13818 441465.000SH SOLE 400430.000 41035.000 Parker Hannifin Corp. COM 701094104 9996 115826.000SH SOLE 105082.000 10744.000 PepsiCo COM 713448108 232 3551.886 SH SOLE 3151.886 400.000 Pfizer COM 717081103 436 24915.000SH SOLE 2975.000 21940.000 Prophecy Resource Corp COM 74345B104 82 80000.000SH SOLE 80000.000 Royal Dutch Shell PLC - Class COM 780259206 708 10605.000SH SOLE 2205.000 8400.000 Royal Dutch Shell PLC Cl B-ADR COM 780259107 10100 151495.993SH SOLE 134836.993 16659.000 Royal Gold, Inc. COM 780287108 219 4000.000 SH SOLE 4000.000 S&P 500 Depository Receipt Ser COM 78462F103 248 1975.000 SH SOLE 1975.000 Satcon Technology Corp COM 803893106 45 10000.000SH SOLE 10000.000 Silvercorp Metals Inc. COM 82835P103 257 20000.000SH SOLE 20000.000 Staples, Inc. COM 855030102 7040 309185.000SH SOLE 280890.000 28295.000 Stryker Corp COM 863667101 3774 70276.000SH SOLE 61401.000 8875.000 Symantec Corp COM 871503108 3896 232760.000SH SOLE 201450.000 31310.000 Taku Gold Corp. COM 874072101 6 15000.000SH SOLE 15000.000 Taseko Mines Ltd. COM 876511106 79 15000.000SH SOLE 15000.000 U.S. Bancorp COM 902973304 6755 250465.000SH SOLE 226525.000 23940.000 US Silver Corp COM 90343P101 41 60000.000SH SOLE 60000.000 United States Natural Gas Fund COM 912318102 108 18000.000SH SOLE 18000.000 Verizon Communications COM 92343V104 9103 254420.000SH SOLE 228266.000 26154.000 W.R. Berkley Corporation COM 084423102 4145 151400.000SH SOLE 143350.000 8050.000 WalMart Stores COM 931142103 8353 154892.000SH SOLE 140012.000 14880.000 Williams Cos. Inc. COM 969457100 10665 431420.000SH SOLE 392075.000 39345.000 iShares Silver Trust COM 46428Q109 302 10000.000SH SOLE 10000.000
FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 80 Form 13F Information Table Value Total: $311,966