13F-HR 1 lka_13f.txt LAWRENCE KELLY & ASSOC., INC. FORM 13F FOR PE 03/31/2008 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F FORM 13F 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: Lawrence Kelly & Associates, Incorporated Address: 199 South Los Robles Avenue Suite 850 Pasadena, CA 91101 13F File Number: 28-4898 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: Alex Tescher Title: Executive Vice President Phone: 626/449-9500 Email: alex@lawrencekelly.com Signature, Place, and Date of Signing: Alex Tescher Pasadena, CA May 15, 2008 Report Type (Check only one.): [ X ] 13F Holdings Report. [ ] 13F Notice. [ ] 13F Combination Report. List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 118 Form 13F Information Table Value Total: $503,854 List of Other Included Managers: No. 13F File Number Name 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 534 6750 SH OTHER 6750 AFLAC Inc. COM 001055102 20186 310799 SH SOLE 169984 140815 3341 51437 SH OTHER 2300 49137 Abbott Labs COM 002824100 274 4960 SH SOLE 4960 480 8700 SH OTHER 8700 Adobe Sys Inc Com COM 00724F101 5143 144500 SH SOLE 36200 108300 64 1800 SH OTHER 1800 Albemarle Corp. COM 012653101 687 18800 SH OTHER 18800 Allergan Inc. COM 018490102 7754 137500 SH SOLE 43280 94220 818 14500 SH OTHER 2000 12500 America Movil-ADR Ser L COM 02364W105 20245 317865 SH SOLE 164725 153140 3191 50100 SH OTHER 3900 46200 American Express Co COM 025816109 675 15444 SH SOLE 15444 275 6300 SH OTHER 6300 American Intl Group COM 026874107 61 1419 SH SOLE 1419 581 13432 SH OTHER 13432 Anheuser Busch Cos COM 035229103 802 16900 SH OTHER 16900 Autoliv Inc Com COM 052800109 6280 125100 SH SOLE 47000 78100 766 15250 SH OTHER 2200 13050 Avery Dennison Corp COM 053611109 1136 23070 SH SOLE 7620 15450 549 11150 SH OTHER 11150 BP PLC Spons ADR COM 055622104 168 2772 SH SOLE 2772 742 12234 SH OTHER 12234 Bank of America Corp COM 060505104 180 4746 SH SOLE 4746 383 10100 SH OTHER 10100 Baxter Int'l COM 071813109 208 3600 SH OTHER 3600 Berkley W R Corp Com COM 084423102 13477 486716 SH SOLE 251659 235057 1902 68679 SH OTHER 5400 63279 Best Buy Inc COM 086516101 10490 253025 SH SOLE 125625 127400 1409 33975 SH OTHER 2950 31025 Bristol Myers Squibb COM 110122108 532 25000 SH SOLE 5800 19200 138 6500 SH OTHER 6500 CVS Caremark Corp COM 126650100 17028 420335 SH SOLE 220289 200046 2590 63934 SH OTHER 4511 59423 Capital One Finl Corp Com COM 14040H105 231 4700 SH OTHER 4700 Carpenter Technology COM 144285103 7407 132330 SH SOLE 70880 61450 509 9100 SH OTHER 1800 7300 Celgene Corp COM 151020104 4321 70500 SH SOLE 24100 46400 Charles Schwab Corp (New) COM 808513105 300 15947 SH SOLE 15947 Chevron Corp COM 166764100 5953 69744 SH SOLE 26762 42982 3883 45491 SH OTHER 2000 43491 Cisco Systems COM 17275R102 13381 555458 SH SOLE 289138 266320 1822 75620 SH OTHER 5200 70420 Coca Cola Co COM 191216100 641 10530 SH SOLE 10530 219 3600 SH OTHER 3600 ConocoPhillips COM 20825C104 305 4000 SH OTHER 4000 Costco Wholesale COM 22160K105 13764 211850 SH SOLE 109200 102650 2283 35144 SH OTHER 2600 32544 Covidien Ltd Com COM G2552X108 12496 282400 SH SOLE 143225 139175 1358 30700 SH OTHER 4300 26400 Dentsply Intl Inc New COM 249030107 17429 451525 SH SOLE 232450 219075 2862 74150 SH OTHER 5100 69050 Disney Walt Co Del COM 254687106 9317 296900 SH SOLE 106400 190500 1229 39156 SH OTHER 3600 35556 Exxon Mobil Corp COM 30231G102 6880 81344 SH SOLE 21440 59904 1804 21328 SH OTHER 21328 General Elec Co COM 369604103 736 19885 SH SOLE 7200 12685 1837 49648 SH OTHER 49648 Goldman Sachs Group Com COM 38141G104 11333 68525 SH SOLE 38575 29950 1426 8625 SH OTHER 550 8075 Idex Corp. Com. COM 45167R104 4265 138975 SH SOLE 40950 98025 235 7650 SH OTHER 4050 3600 Int'l Bus Mach COM 459200101 755 6560 SH OTHER 6560 Intel Corp COM 458140100 672 31740 SH SOLE 2000 29740 902 42600 SH OTHER 42600 Intuit COM 461202103 8084 299300 SH SOLE 177100 122200 718 26600 SH OTHER 4200 22400 JPMorgan Chase & Co COM 46625H100 271 6300 SH OTHER 6300 Johnson & Johnson COM 478160104 13479 207785 SH SOLE 131270 76515 2460 37920 SH OTHER 1700 36220 L-3 Communications Hldgs Inc. COM 502424104 10417 95275 SH SOLE 27200 68075 986 9022 SH OTHER 1322 7700 Lincoln National Corp COM 534187109 10792 207529 SH SOLE 112100 95429 1153 22175 SH OTHER 2300 19875 McDonalds Corp COM 580135101 268 4800 SH OTHER 4800 Microsoft Corp COM 594918104 3025 106600 SH SOLE 103750 2850 763 26900 SH OTHER 26900 Nestle SA Spons ADR (For Reg) COM 641069406 15464 123285 SH SOLE 70850 52435 2778 22150 SH OTHER 1500 20650 Nokia Corp Sponsored ADR COM 654902204 9434 296400 SH SOLE 150850 145550 1235 38800 SH OTHER 4300 34500 Paccar Inc COM 693718108 160 3550 SH SOLE 3550 486 10800 SH OTHER 10800 Parker Hannifin Corp COM 701094104 1247 18000 SH SOLE 18000 156 2250 SH OTHER 2250 Pepsico Inc COM 713448108 15960 221049 SH SOLE 108480 112569 2954 40909 SH OTHER 2150 38759 Petroleo Brasileiro SA Spons A COM 71654V408 1680 16450 SH SOLE 7900 8550 245 2400 SH OTHER 2400 Pfizer Inc COM 717081103 1264 60401 SH OTHER 60401 Procter & Gamble Co. COM 742718109 673 9607 SH SOLE 5100 4507 1343 19165 SH OTHER 19165 Qualcomm Inc. COM 747525103 246 6000 SH OTHER 6000 Royal Dutch Shell PLC Spons AD COM 780259206 4156 60250 SH SOLE 55250 5000 855 12400 SH OTHER 12400 Schlumberger Ltd COM 806857108 15768 181240 SH SOLE 93450 87790 1742 20025 SH OTHER 2800 17225 Southwestern Energy Co COM 845467109 19505 578950 SH SOLE 294850 284100 2045 60700 SH OTHER 4600 56100 Stanley Works COM 854616109 1238 26000 SH SOLE 26000 State Street Corp COM 857477103 340 4300 SH OTHER 4300 Sunpower Corp. COM 867652109 7675 103005 SH SOLE 68800 34205 1019 13675 SH OTHER 1400 12275 Target Corp COM 87612E106 13 250 SH SOLE 250 253 5000 SH OTHER 5000 Telefonica SA - Spons ADR COM 879382208 15892 183700 SH SOLE 95125 88575 2144 24782 SH OTHER 1900 22882 Teva Pharmaceutical Inds ADR COM 881624209 16864 365095 SH SOLE 191500 173595 2781 60200 SH OTHER 5400 54800 Thermo Fisher Scientific, Inc. COM 883556102 17525 308315 SH SOLE 158325 149990 2656 46725 SH OTHER 4600 42125 United Technologies COM 913017109 729 10600 SH OTHER 10600 Verisign Inc. Com. COM 92343E102 13193 396900 SH SOLE 225450 171450 1399 42100 SH OTHER 4800 37300 Wells Fargo & Co COM 949746101 8041 276330 SH SOLE 127980 148350 706 24270 SH OTHER 24270 Vestas Wind Systems A/S OrdF 5964651 5165 47295 SH SOLE 29290 18005 762 6975 SH OTHER 6975