FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30,2008
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: CNA Financial Corporation
Address: 333 S. Wabash
Chicago,IL 60604
13F File Number: 28-346
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: Lynne Gugenheim
Title: Senior Vice President and Deputy General Counsel
Phone: (312) 822 4921
Signature, Place, and Date of Signing:
November 14,2008
Chicago, Illinois,60685
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
Assets reported herein are described as having shared
investment discretion among Loews Corporation, CNA
Financial Corporation,The Continental Corporation,
Continental Casualty Company and Continental Assurance
Company. Each of the foregoing entities specifically disclaims
ownership of any securities in this report which are not
beneficially owned by that entity and states that such
assets are solely under the control of its board of directors.
The characterization of shared investment discretion with parent
holding companies is made solely as a consequence of SEC
interpretations regarding control of the subsidiary through
share ownership. Loews Corporation owns approximately 90%
of the outstanding shares of CNA Financial Corporation;
CNA Financial Corporation owns 100% of the outstanding
shares of Continental Casualty Company and The Continental
Corporation; and Continental Casualty Company owns 100%
of the outstanding shares of Continental Assurance Company.
Loews Corporation will report separately on securities over which
it has investment discretion which are not part of this report.
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 5
Form 13F Information Table Entry Total: 617
Form 13F Information Table Value Total: 1,039,701 (in thousands)
List of Other Included Managers:
No. 13F File Number Name
1 28-172 The Continental Corporation
2 28-217 Loews Corporation
3 28-386 Continental Assurance Company
4 28-387 Continental Casualty Company
5 28-12384 Swank Energy Income Advisors, LP
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
3M CO COM 88579Y101 96 1,410 SH DEFINED 1,2 1,410
ABBOTT LABORATORIES COM 002824100 1,127 19,580 SH DEFINED 1,2 19,580
ABERCROMBIE & FITCH CO CL A 002896207 7 170 SH DEFINED 1,2 170
ACE LTD SHS H0023R105 36 660 SH DEFINED 1,2 660
ADOBE SYSTEMS INC COM 00724F101 42 1,060 SH DEFINED 1,2 1,060
ADVANCED MICRO DEVICES COM 007903107 6 1,200 SH DEFINED 1,2 1,200
AES CORP COM 00130H105 16 1,330 SH DEFINED 1,2 1,330
AETNA INC COM 00817Y108 36 990 SH DEFINED 1,2 990
AFFILIATED COMPUTER SVCS CL A 008190100 1,272 25,115 SH DEFINED 1,2 25,115
AFLAC INC COM 001055102 56 950 SH DEFINED 1,2 950
AFTERMARKET TECHNOLOGY CORP COM 00211W104 616 25,950 SH DEFINED 2 25,950
AGILENT TECHNOLOGIES INC COM 00846U101 22 730 SH DEFINED 1,2 730
AIR PRODUCTS & CHEMICALS INCCOM 009158106 29 430 SH DEFINED 1,2 430
AKAMAI TECHNOLOGIES COM 00971T101 6 330 SH DEFINED 1,2 330
ALCATEL-LUCENT SPONSORE013904305 2,087 543,425 SH DEFINED 2 543,425
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
ALCOA INC COM 013817101 5,682 251,620 SH DEFINED 1,2 251,620
ALCON INC COM SHS H01301102 226 1,400 SH DEFINED 2 1,400
ALLEGHENY ENERGY INC COM 017361106 1,102 29,970 SH DEFINED 1,2 29,970
ALLEGHENY TECHNOLOGIES INC COM 01741R102 6 200 SH DEFINED 1,2 200
ALLERGAN INC COM 018490102 31 610 SH DEFINED 1,2 610
ALLIED WASTE INDUSTRIES INC COM 019589308 7 670 SH DEFINED 1,2 670
ALLSTATE CORP COM 020002101 1,994 43,245 SH DEFINED 1,2 43,245
ALTERA CORPORATION COM 021441100 13 610 SH DEFINED 1,2 610
ALTRIA GROUP INC COM 02209S103 83 4,200 SH DEFINED 1,2 4,200
AMAZON.COM INC COM 023135106 45 620 SH DEFINED 1,2 620
AMBAC FINANCIAL GROUP INC COM 023139108 1 570 SH DEFINED 1,2 570
AMEREN CORPORATION COM 023608102 16 420 SH DEFINED 1,2 420
AMERICAN CAPITAL LTD COM 02503Y103 10 390 SH DEFINED 1,2 390
AMERICAN ELECTRIC POWER COM 025537101 2,116 57,150 SH DEFINED 1,2 57,150
AMERICAN EQUITY INVT LIFE HLCOM 025676206 982 130,975 SH DEFINED 2 130,975
AMERICAN EXPRESS COM 025816109 1,172 33,080 SH DEFINED 1,2 33,080
AMERICAN INTERNATIONAL GROUPCOM 026874107 18 5,370 SH DEFINED 1,2 5,370
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
AMERICAN NATIONAL INSURANCE COM 028591105 466 5,400 SH DEFINED 2 5,400
AMERICAN TOWER CORP CL A 029912201 29 810 SH DEFINED 1,2 810
AMERIPRISE FINANCIAL INC COM 03076C106 17 450 SH DEFINED 1,2 450
AMERISOURCE HEALTH CORP COM 03073E105 1,285 34,130 SH DEFINED 1,2 34,130
AMGEN INC COM 031162100 2,290 38,645 SH DEFINED 1,2 38,645
ANADARKO PETROLEUM CORP COM 032511107 14,599 300,940 SH DEFINED 1,2 300,940
ANALOG DEVICES COM 032654105 16 590 SH DEFINED 1,2 590
ANHEUSER BUSCH CO COM 035229103 993 15,310 SH DEFINED 1,2 15,310
ANSYS INC COM 03662Q105 183 4,824 SH DEFINED 2,4 4,824
AON CORP COM 037389103 27 610 SH DEFINED 1,2 610
APACHE CORP COM 037411105 6,848 65,670 SH DEFINED 1,2 65,670
APARTMENT INVT & MGMT CO CL A 03748R101 7 198 SH DEFINED 1,2 198
APOLLO GROUP INC CL A 037604105 17 280 SH DEFINED 1,2 280
APPLE INC COM 037833100 200 1,760 SH DEFINED 1,2 1,760
APPLIED BIOSYSTEMS INC COM 038149100 11 330 SH DEFINED 1,2 330
APPLIED MATERIALS INC. COM 038222105 684 45,190 SH DEFINED 1,2 45,190
ARCHER-DANIELS-MIDLAND CO COM 039483102 28 1,280 SH DEFINED 1,2 1,280
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
ARGO GROUP INTERNATIONAL COM G0464B107 1,007 27,325 SH DEFINED 2 27,325
ARTHUR J GALLAGHER & CO COM 363576109 261 10,175 SH DEFINED 2 10,175
ARVINMERITOR INC COM 043353101 578 44,350 SH DEFINED 2 44,350
ASHLAND INC COM 044209104 3 110 SH DEFINED 1,2 110
ASSURANT INC COM 04621X108 10 190 SH DEFINED 1,2 190
AT&T INC COM 00206R102 336 12,035 SH DEFINED 1,2 12,035
ATLAS PIPELINE HOLDINGS LP COM 04939R108 8,267 343,024 SH DEFINED 2,4,5 343,024
ATLAS PIPELINE PARTNERS INT 049392103 10,359 406,393 SH DEFINED 2,4,5 406,393
AUTODESK INC COM 052769106 15 460 SH DEFINED 1,2 460
AUTOMATIC DATA PROCESSING COM 053015103 44 1,040 SH DEFINED 1,2 1,040
AUTONATION INC COM 05329W102 3 260 SH DEFINED 1,2 260
AUTOZONE INC COM 053332102 11 90 SH DEFINED 1,2 90
AVALONBAY COMMUNITIES INC COM 053484101 16 160 SH DEFINED 1,2 160
AVERY DENNISON CORP COM 053611109 9 210 SH DEFINED 1,2 210
AVON PRODUCTS INC COM 054303102 35 850 SH DEFINED 1,2 850
BAKER HUGHES INC COM 057224107 38 620 SH DEFINED 1,2 620
BALL CORP COM 058498106 8 200 SH DEFINED 1,2 200
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
BANK OF AMERICA CORP COM 060505104 6,734 192,411 SH DEFINED 1,2 192,411
BANK OF NEW YORK COM 064058100 2,878 88,343 SH DEFINED 1,2 88,343
BARR PHARMACEUTICALS INC COM 068306109 14 220 SH DEFINED 1,2 220
BARRICK GOLD CORP COM 067901108 4,094 111,421 SH DEFINED 2 111,421
BAXTER INTERNATIONAL INC COM 071813109 83 1,270 SH DEFINED 1,2 1,270
BB&T CORP COM 054937107 41 1,090 SH DEFINED 1,2 1,090
BECTON DICKINSON & CO COM 075887109 39 490 SH DEFINED 1,2 490
BED BATH & BEYOND INC COM 075896100 16 520 SH DEFINED 1,2 520
BEMIS COMPANY COM 081437105 5 200 SH DEFINED 1,2 200
BEST BUY CO INC COM 086516101 26 700 SH DEFINED 1,2 700
BIG LOTS INC COM 089302103 4 160 SH DEFINED 1,2 160
BIOGEN IDEC INC COM 09062X103 30 600 SH DEFINED 1,2 600
BJ SERVICES CO COM 055482103 11 580 SH DEFINED 1,2 580
BLACK & DECKER MFG CO COM 091797100 1,916 31,545 SH DEFINED 1,2 31,545
BLACKROCK FLORIDA INSD MUNI COM 09250G102 407 38,900 SH DEFINED 2,4 38,900
BLACKROCK MUNIYIELD INSURED COM 09254E103 1,194 116,400 SH DEFINED 2,4 116,400
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
BLACKROCK MUNIYIELD NY INSURCOM 09255E102 558 55,900 SH DEFINED 2,4 55,900
BLOUNT INTERNATIONAL INC COM 095180105 896 80,475 SH DEFINED 2 80,475
BMC SOFTWARE INC COM 055921100 11 380 SH DEFINED 1,2 380
BOEING COMPANY COM 097023105 707 12,330 SH DEFINED 1,2 12,330
BOSTON PROPERTIES INC COM 101121101 22 240 SH DEFINED 1,2 240
BOSTON SCIENTIFIC CORP COM 101137107 33 2,669 SH DEFINED 1,2 2,669
BOWNE & CO INC COM 103043105 83 7,150 SH DEFINED 2 7,150
BRADY CORPORATION CL A 104674106 656 18,600 SH DEFINED 2 18,600
BRISTOL-MYERS SQUIBB CO COM 110122108 1,474 70,715 SH DEFINED 1,2 70,715
BROADCOM CORP-CL A CL A 111320107 17 930 SH DEFINED 1,2 930
BROOKFIELD HOMES CORP COM 112723101 359 25,000 SH DEFINED 2 25,000
BROWN-FORMAN CORP CL B 115637209 12 170 SH DEFINED 1,2 170
BRUNSWICK CORP COM 117043109 2 170 SH DEFINED 1,2 170
BURLINGTON NORTHERN SANTA FECOM 12189T104 55 590 SH DEFINED 1,2 590
C.H. ROBINSON WORLDWIDE INC COM 12541W209 17 340 SH DEFINED 1,2 340
CAMERON INTERNATIONAL CORP COM 13342B105 17 440 SH DEFINED 1,2 440
CAMPBELL SOUP CO COM 134429109 17 440 SH DEFINED 1,2 440
CAPITAL ONE FINANCIAL CORP COM 14040H105 3,269 64,101 SH DEFINED 1,2 64,101
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
CARDINAL HEALTH INC COM 14149Y108 35 710 SH DEFINED 1,2 710
CARNIVAL CORP PAIRED C143658300 31 870 SH DEFINED 1,2 870
CARTER'S INC COM 146229109 1,216 61,650 SH DEFINED 2 61,650
CATERPILLAR INC COM 149123101 1,278 21,440 SH DEFINED 1,2 21,440
CB RICHARD ELLIS GROUP INC CL A 12497T101 5 340 SH DEFINED 1,2 340
CBS CORP CL B 124857202 1,478 101,350 SH DEFINED 1,2 101,350
CELGENE CORP COM 151020104 55 870 SH DEFINED 1,2 870
CENTERPOINT ENERGY INC COM 15189T107 9 650 SH DEFINED 1,2 650
CENTEX CORP COM 152312104 4 240 SH DEFINED 1,2 240
CENTURYTEL INC COM 156700106 8 210 SH DEFINED 1,2 210
CHEMICAL FINANCIAL CORP COM 163731102 1,170 37,575 SH DEFINED 2 37,575
CHESAPEAKE ENERGY CORP COM 165167107 34 960 SH DEFINED 1,2 960
CHEVRON CORP COM 166764100 341 4,140 SH DEFINED 1,2 4,140
CHUBB CORP COM 171232101 41 740 SH DEFINED 1,2 740
CIBER INC COM 17163B102 953 136,275 SH DEFINED 2 136,275
CIENA CORP COM 171779309 2 170 SH DEFINED 1,2 170
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
CIGNA CORP COM 125509109 19 560 SH DEFINED 1,2 560
CINCINNATI FINANCIAL CORP COM 172062101 9 330 SH DEFINED 1,2 330
CINTAS CORP COM 172908105 7 260 SH DEFINED 1,2 260
CISCO SYSTEMS INC COM 17275R102 1,216 53,880 SH DEFINED 1,2 53,880
CIT GROUP INC COM 125581108 2 290 SH DEFINED 1,2 290
CITIGROUP INC COM 172967101 4,847 236,330 SH DEFINED 1,2 236,330
CITRIX SYSTEMS INC COM 177376100 9 370 SH DEFINED 1,2 370
CLOROX COMPANY COM 189054109 18 280 SH DEFINED 1,2 280
CME GROUP INC COM 12572Q105 41 110 SH DEFINED 1,2 110
CMS ENERGY CORP COM 125896100 5 440 SH DEFINED 1,2 440
CNA SURETY CORPORATION COM 12612L108 458,000 27,425,147 SH DEFINED 1,2,4 27,425,147
COACH INC COM 189754104 18 700 SH DEFINED 1,2 700
COCA COLA CO COM 191216100 809 15,290 SH DEFINED 1,2 15,290
COCA-COLA ENTERPRISES COM 191219104 10 570 SH DEFINED 1,2 570
COGNIZANT TECH SOLUTIONS CL A 192446102 13 580 SH DEFINED 1,2 580
COLGATE-PALMOLIVE CO COM 194162103 77 1,020 SH DEFINED 1,2 1,020
COMCAST CORP CL A SPL CL A 20030N200 2,300 116,640 SH DEFINED 2 116,640
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
COMCAST CORP-CL A CLA 20030N101 2,424 123,490 SH DEFINED 1,2 123,490
COMERICA INC COM 200340107 835 25,450 SH DEFINED 1,2 25,450
COMPUTER ASSOCIATES INTL INCCOM 12673P105 1,712 85,757 SH DEFINED 1,2 85,757
COMPUTER SCIENCES CORP COM 205363104 12 300 SH DEFINED 1,2 300
COMPUWARE CORP COM 205638109 5 540 SH DEFINED 1,2 540
CONAGRA FOODS INC COM 205887102 19 970 SH DEFINED 1,2 970
CONOCOPHILLIPS COM 20825C104 229 3,120 SH DEFINED 1,2 3,120
CONSECO INC COM 208464883 209 59,250 SH DEFINED 2 59,250
CONSOL ENERGY INC COM 20854P109 17 370 SH DEFINED 1,2 370
CONSOLIDATED EDISON INC COM 209115104 23 540 SH DEFINED 1,2 540
CONSTELLATION BRANDS INC CL A 21036P108 8 380 SH DEFINED 1,2 380
CONSTELLATION ENERGY GROUP COM 210371100 9 360 SH DEFINED 1,2 360
CONSTELLATION ENERGY PARTNERCOM 21038E101 2,663 231,960 SH DEFINED 2,4 231,960
CONVERGYS CORP COM 212485106 4 250 SH DEFINED 1,2 250
CON-WAY INC COM 205944101 380 8,625 SH DEFINED 2 8,625
COOPER INDUSTRIES LTD CL A G24182100 14 350 SH DEFINED 1,2 350
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
CORNING INC. COM 219350105 597 38,140 SH DEFINED 1,2 38,140
COSTCO WHOLESALE CORP COM 22160K105 56 870 SH DEFINED 1,2 870
COVENTRY HEALTH CARE INC COM 222862104 10 310 SH DEFINED 1,2 310
COVIDIEN LTD COM G2552X108 53 992 SH DEFINED 1,2 992
CR BARD INC COM 067383109 19 200 SH DEFINED 1,2 200
CROSSTEX ENERGY LP COM 22765U102 2,900 158,800 SH DEFINED 2,4,5 158,800
CSX CORP. COM 126408103 2,009 36,810 SH DEFINED 1,2 36,810
CUMMINS INC COM 231021106 18 410 SH DEFINED 1,2 410
CVS CORP COM 126650100 938 27,858 SH DEFINED 1,2 27,858
DANAHER CORP COM 235851102 35 510 SH DEFINED 1,2 510
DARDEN RESTAURANTS INC COM 237194105 8 290 SH DEFINED 1,2 290
DCP MIDSTREAM PARTNERS LTD PART23311P100 4,039 238,707 SH DEFINED 2,4,5 238,707
DEAN FOODS CO COM 242370104 7 300 SH DEFINED 1,2 300
DEERE & CO COM 244199105 43 870 SH DEFINED 1,2 870
DEL MONTE FOODS CO COM 24522P103 704 90,250 SH DEFINED 2 90,250
DELL INC COM 24702R101 67 4,070 SH DEFINED 1,2 4,070
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
DELPHI FINANCIAL GROUP CLA 247131105 549 19,588 SH DEFINED 2 19,588
DEVELOPERS DIVERSIFIED RLTY COM 251591103 8 240 SH DEFINED 1,2 240
DEVON ENERGY CORP COM 25179M103 3,273 35,890 SH DEFINED 1,2 35,890
DIAGEO PLC ADR 25243Q205 1,095 15,900 SH DEFINED 2 15,900
DIAMONDS TRUST SERIES I UNIT SER252787106 81,270 750,000 SH DEFINED 2 750,000
DILLARDS INC-CL A CL A 254067101 1 110 SH DEFINED 1,2 110
DIRECTV GROUP INC/THE COM 25459L106 37 1,420 SH DEFINED 1,2 1,420
DISCOVER FINANCIAL SERVICES COM 254709108 13 950 SH DEFINED 1,2 950
DOMINION RESOURCES INC/VA COM 25746U109 44 1,020 SH DEFINED 1,2 1,020
DOVER CORP COM 260003108 15 380 SH DEFINED 1,2 380
DOW CHEMICAL COM 260543103 59 1,870 SH DEFINED 1,2 1,870
DR HORTON INC COM 23331A109 7 540 SH DEFINED 1,2 540
DRESS BARN INC COM 261570105 258 16,876 SH DEFINED 2 16,876
DTE ENERGY COMPANY COM 233331107 10 260 SH DEFINED 1,2 260
DU PONT (E.I.) DE NEMOURS COM 263534109 72 1,790 SH DEFINED 1,2 1,790
DUKE ENERGY CORP COM 26441C105 44 2,518 SH DEFINED 1,2 2,518
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
DYNEGY INC-CL A CL A 26817G102 2,377 663,980 SH DEFINED 1,2 663,980
E*TRADE FINANCIAL CORP COM 269246104 3 920 SH DEFINED 1,2 920
EASTMAN CHEMICAL COMPANY COM 277432100 9 160 SH DEFINED 1,2 160
EASTMAN KODAK CO COM 277461109 9 570 SH DEFINED 1,2 570
EATON CORP COM 278058102 19 330 SH DEFINED 1,2 330
EBAY INC COM 278642103 50 2,220 SH DEFINED 1,2 2,220
ECOLAB INC COM 278865100 17 350 SH DEFINED 1,2 350
EDISON INTERNATIONAL COM 281020107 26 650 SH DEFINED 1,2 650
EL PASO CORP COM 28336L109 18 1,390 SH DEFINED 1,2 1,390
EL PASO PIPELINE PARTNERS COM 283702108 6,026 375,000 SH DEFINED 2,4 375,000
ELECTRONIC ARTS INC COM 285512109 23 630 SH DEFINED 1,2 630
ELI LILLY & CO COM 532457108 87 1,970 SH DEFINED 1,2 1,970
EMBARQ CORP COM 29078E105 12 306 SH DEFINED 1,2 306
EMC CORPORATION COM 268648102 817 68,280 SH DEFINED 1,2 68,280
EMERSON ELECTRIC CO COM 291011104 64 1,570 SH DEFINED 1,2 1,570
ENBRIDGE ENERGY PARTNERS COM 29250R106 7,206 181,148 SH DEFINED 2,4,5 181,148
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
ENCANA CORP COM 292505104 6,573 100,000 SH DEFINED 2 100,000
ENERGY TRANSFER EQUITY LP LTD PART29273V100 5,890 270,812 SH DEFINED 2,4,5 270,812
ENSCO INTERNATIONAL INC COM 26874Q100 4,944 85,790 SH DEFINED 1,2 85,790
ENTERGY CORP COM 29364G103 34 380 SH DEFINED 1,2 380
EOG RESOURCES INC COM 26875P101 45 500 SH DEFINED 1,2 500
EQUIFAX INC COM 294429105 9 260 SH DEFINED 1,2 260
EQUITY RESIDENTIAL INT 29476L107 24 540 SH DEFINED 1,2 540
ESTEE LAUDER COMPANIES CL A 518439104 11 230 SH DEFINED 1,2 230
EW SCRIPPS CO-CL A CL A 811054402 0 59 SH DEFINED 1,2 59
EXELON CORP COM 30161N101 3,393 54,180 SH DEFINED 1,2 54,180
EXPEDIA INC COM 30212P105 6 410 SH DEFINED 1,2 410
EXPEDITORS INTL WASH INC COM 302130109 15 430 SH DEFINED 1,2 430
EXPRESS SCRIPTS INC COM 302182100 38 510 SH DEFINED 1,2 510
EXXON MOBIL CORP COM 30231G102 2,071 26,670 SH DEFINED 1,2 26,670
FAMILY DOLLAR STORES COM 307000109 7 280 SH DEFINED 1,2 280
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
FBL FINANCIAL GROUP INC CL A 30239F106 667 23,900 SH DEFINED 2 23,900
FEDERAL HM LOAN MORTGAGE CORCOM 313400301 207 121,290 SH DEFINED 1,2 121,290
FEDERAL NATL MTGE ASSN. COM 313586109 118 77,035 SH DEFINED 1,2 77,035
FEDERATED INVESTORS INC CL B 314211103 5 170 SH DEFINED 1,2 170
FEDEX CORP COM 31428X106 49 620 SH DEFINED 1,2 620
FIDELITY NATIONAL INFORMATIOCOM 31620M106 6 340 SH DEFINED 1,2 340
FIFTH THIRD BANCORP COM 316773100 13 1,060 SH DEFINED 1,2 1,060
FINANCIAL SELECT SECTOR SBI INT-81369Y605 8,951 450,000 SH DEFINED 2 450,000
FIRST AMERICAN CORPORATION COM 318522307 543 18,400 SH DEFINED 2 18,400
FIRST HORIZON NATIONAL CORP COM 320517105 3 370 SH DEFINED 1,2 370
FIRSTENERGY CORP COM 337932107 41 610 SH DEFINED 1,2 610
FISERV INC COM 337738108 16 330 SH DEFINED 1,2 330
FLUOR CORP (NEW) COM 343412102 800 14,360 SH DEFINED 1,2 14,360
FORD MOTOR CO COM 345370860 23 4,327 SH DEFINED 1,2 4,327
FOREST LABORATORIES INC COM 345838106 18 620 SH DEFINED 1,2 620
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
FORTUNE BRANDS INC COM 349631101 18 310 SH DEFINED 1,2 310
FPL GROUP INC COM 302571104 41 810 SH DEFINED 1,2 810
FRANKLIN RESOURCES INC COM 354613101 28 320 SH DEFINED 1,2 320
FREEPORT-MCMORAN COPPER CL B 35671D857 44 771 SH DEFINED 1,2 771
FRONTIER COMMUNICATIONS CORPCOM 35906A108 7 650 SH DEFINED 1,2 650
GAMESTOP CORP CL A 36467W109 11 320 SH DEFINED 1,2 320
GANNETT CO COM 364730101 8 460 SH DEFINED 1,2 460
GAP INC/THE COM 364760108 16 900 SH DEFINED 1,2 900
GENERAL DYNAMICS CORP COM 369550108 59 800 SH DEFINED 1,2 800
GENERAL ELECTRIC CO COM 369604103 3,662 143,620 SH DEFINED 1,2 143,620
GENERAL GROWTH PROPERTIES COM 370021107 8 530 SH DEFINED 1,2 530
GENERAL MILLS INC COM 370334104 46 670 SH DEFINED 1,2 670
GENERAL MOTORS CORP COM 370442105 11 1,120 SH DEFINED 1,2 1,120
GENESIS ENERGY L.P. COM 371927104 7,130 498,985 SH DEFINED 2,4,5 498,985
GENUINE PARTS CO COM 372460105 13 330 SH DEFINED 1,2 330
GENWORTH FINANCIAL INC CL A 37247D106 7 860 SH DEFINED 1,2 860
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
GENZYME CORP COM 372917104 44 540 SH DEFINED 1,2 540
GILEAD SCIENCES INC COM 375558103 1,064 23,350 SH DEFINED 1,2 23,350
GOLDMAN SACHS GROUP INC COM 38141G104 101 790 SH DEFINED 1,2 790
GOODRICH CORP COM 382388106 10 250 SH DEFINED 1,2 250
GOODYEAR TIRE & RUBBER CO COM 382550101 7 480 SH DEFINED 1,2 480
GOOGLE INC CL A 38259P508 3,298 8,230 SH DEFINED 1,2 8,230
GRAY TELEVISION INC COM 389375106 52 30,000 SH DEFINED 2,4 30,000
GRIFFON CORPORATION COM 398433102 1,237 137,119 SH DEFINED 2 137,119
H&R BLOCK INC COM 093671105 15 650 SH DEFINED 1,2 650
HALLIBURTON COMPANY COM 406216101 1,029 31,760 SH DEFINED 1,2 31,760
HARLEY-DAVIDSON INC COM 412822108 18 480 SH DEFINED 1,2 480
HARMAN INTERNATIONAL COM 413086109 4 120 SH DEFINED 1,2 120
HARTE-HANKS INC COM 416196103 942 90,800 SH DEFINED 2 90,800
HARTFORD FINANCIAL SVCS GRP COM 416515104 26 630 SH DEFINED 1,2 630
HASBRO INC COM 418056107 10 280 SH DEFINED 1,2 280
HCP INC COM 40414L109 19 470 SH DEFINED 1,2 470
HERCULES INC COM 427056106 4 220 SH DEFINED 1,2 220
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
HERSHEY CO/THE COM 427866108 13 340 SH DEFINED 1,2 340
HESS CORP LTD PART42809H107 46 560 SH DEFINED 1,2 560
HEWLETT-PACKARD CO. COM 428236103 1,615 34,920 SH DEFINED 1,2 34,920
HILAND HOLDINGS GP LP INT 43129M107 5,338 259,230 SH DEFINED 2,4,5 259,230
HILAND PARTNERS LP LTD PART431291103 8,982 247,437 SH DEFINED 2,4,5 247,437
HJ HEINZ CO COM 423074103 31 630 SH DEFINED 1,2 630
HOME DEPOT COM 437076102 2,148 82,960 SH DEFINED 1,2 82,960
HONEYWELL INTERNATIONAL INC COM 438516106 62 1,490 SH DEFINED 1,2 1,490
HORMEL FOODS CORP COM 440452100 221 6,100 SH DEFINED 2 6,100
HOSPIRA INC COM 441060100 12 320 SH DEFINED 1,2 320
HOST HOTELS & RESORTS INC COM 44107P104 14 1,040 SH DEFINED 1,2 1,040
HSN INC COM 404303109 1 72 SH DEFINED 1,2 72
HUDSON CITY BANCORP INC COM 443683107 19 1,030 SH DEFINED 1,2 1,030
HUMANA INC COM 444859102 14 340 SH DEFINED 1,2 340
HUNTINGTON BANCSHARES INC COM 446150104 6 730 SH DEFINED 1,2 730
IAC/INTERACTIVECORP COM 44919P508 3 180 SH DEFINED 1,2 180
IDACORP INC COM 451107106 151 5,175 SH DEFINED 2 5,175
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
ILLINOIS TOOL WORKS COM 452308109 36 800 SH DEFINED 1,2 800
IMS HEALTH INC COM 449934108 1,569 82,960 SH DEFINED 1,2 82,960
INERGY HOLDINGS LP COM 45661Q107 3,210 125,900 SH DEFINED 2,4,5 125,900
INERGY LP LTD PTNR456615103 4,733 218,800 SH DEFINED 2,4,5 218,800
INGERSOLL RAND CO CL A G4776G101 2,619 84,039 SH DEFINED 1,2 84,039
INTEGRYS ENERGY GROUP INC COM 45822P105 8 159 SH DEFINED 1,2 159
INTEL CORP COM 458140100 216 11,540 SH DEFINED 1,2 11,540
INTERCONTINENTALEXCHANGE INCCOM 45865V100 11 140 SH DEFINED 1,2 140
INTERNATIONAL BUSINESS MACHICOM 459200101 14,957 127,880 SH DEFINED 1,2 127,880
INTERNATIONAL PAPER CO COM 460146103 22 850 SH DEFINED 1,2 850
INTERPUBLIC GROUP OF COS INCCOM 460690100 7 934 SH DEFINED 1,2 934
INTERVAL LEISURE GROUP COM 46113M108 1 72 SH DEFINED 1,2 72
INTL FLAVORS & FRAGRANCES COM 459506101 6 160 SH DEFINED 1,2 160
INTL GAME TECHNOLOGY COM 459902102 11 620 SH DEFINED 1,2 620
INTUIT INC COM 461202103 21 650 SH DEFINED 1,2 650
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
INTUITIVE SURGICAL INC COM 46120E602 19 80 SH DEFINED 1,2 80
IPC HOLDINGS LTD ORD G4933P101 1,016 33,625 SH DEFINED 2 33,625
ISHARES MSCI JAPAN INDEX FD MSCI JAP464286848 10,660 1,000,000 SH DEFINED 2 1,000,000
ITT CORP COM 450911102 20 360 SH DEFINED 1,2 360
J.C. PENNY CO INC (HLDG CO) COM 708160106 1,410 42,290 SH DEFINED 1,2 42,290
JABIL CIRCUIT INC COM 466313103 4 410 SH DEFINED 1,2 410
JACOBS ENGINEERING GROUP INCCOM 469814107 14 250 SH DEFINED 1,2 250
JANUS CAPITAL GROUP INC COM 47102X105 7 290 SH DEFINED 1,2 290
JDS UNIPHASE CORP COM 46612J507 4 441 SH DEFINED 1,2 441
JOHNSON & JOHNSON COM 478160104 5,022 72,485 SH DEFINED 1,2 72,485
JOHNSON CONTROLS INC COM 478366107 36 1,180 SH DEFINED 1,2 1,180
JONES APPAREL GROUP INC COM 480074103 987 53,345 SH DEFINED 1,2 53,345
JPMORGAN CHASE & COMPANY COM 46625H100 4,057 86,870 SH DEFINED 1,2 86,870
JUNIPER NETWORKS INC COM 48203R104 22 1,040 SH DEFINED 1,2 1,040
K12 INC COM 48273U102 374 14,100 SH DEFINED 2,4 14,100
KB HOME COM 48666K109 3 150 SH DEFINED 1,2 150
KELLOGG CO COM 487836108 29 520 SH DEFINED 1,2 520
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
KELLY SERVICES INC CL A 488152208 1,054 55,321 SH DEFINED 2 55,321
KEYCORP COM 493267108 9 790 SH DEFINED 1,2 790
KIMBERLY-CLARK CORP COM 494368103 54 840 SH DEFINED 1,2 840
KIMCO REALTY CORP COM 49446R109 18 500 SH DEFINED 1,2 500
KINDER MORGAN MANAGEMENT LLCSHS 49455U100 6,656 135,278 SH DEFINED 2,4 135,278
KING PHARMACEUTICALS INC COM 495582108 5 490 SH DEFINED 1,2 490
KLA-TENCOR CORPORATION COM 482480100 11 340 SH DEFINED 1,2 340
KOHLS CORP COM 500255104 778 16,880 SH DEFINED 1,2 16,880
KRAFT FOODS INC-CLASS A CL A 50075N104 100 3,056 SH DEFINED 1,2 3,056
KROGER CO COM 501044101 37 1,340 SH DEFINED 1,2 1,340
L-3 COMMUNICATIONS CORP COM 502424104 1,008 10,250 SH DEFINED 1,2 10,250
LABORATORY CRP OF AMER HLDGSCOM 50540R409 15 220 SH DEFINED 1,2 220
LEAR SEATING CORP COM 521865105 1,305 124,300 SH DEFINED 2 124,300
LEGG MASON INC COM 524901105 10 270 SH DEFINED 1,2 270
LEGGETT & PLATT INC COM 524660107 7 330 SH DEFINED 1,2 330
LEHMAN BROTHERS HOLDINGS INCCOM 524908100 0 1,060 SH DEFINED 1,2 1,060
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
LENDER PROCESSING SERVICES COM 52602E102 5 170 SH DEFINED 1,2 170
LENNAR CORP-CL A CL A 526057104 4 270 SH DEFINED 1,2 270
LEUCADIA NATIONAL CORP COM 527288104 15 340 SH DEFINED 1,2 340
LEVEL 3 COMMUNICATIONS NOTE 52729NBE9 1,157 1,200,000 PRN DEFINED 2,3 333,336
LEXMARK INTERNATIONAL INC CL A 529771107 6 190 SH DEFINED 1,2 190
LIMITED BRANDS INC COM 532716107 11 620 SH DEFINED 1,2 620
LINCOLN NATIONAL CORP COM 534187109 23 529 SH DEFINED 1,2 529
LINEAR TECHNOLOGY CORP COM 535678106 13 440 SH DEFINED 1,2 440
LIZ CLAIBORNE INC COM 539320101 3 190 SH DEFINED 1,2 190
LOCKHEED MARTIN CORP COM 539830109 76 690 SH DEFINED 1,2 690
LOWES COS INC COM 548661107 69 2,910 SH DEFINED 1,2 2,910
LSI CORP COM 502161102 7 1,310 SH DEFINED 1,2 1,310
M & T BANK CORP COM 55261F104 14 160 SH DEFINED 1,2 160
MACYS INC COM 55616P104 15 858 SH DEFINED 1,2 858
MAGELLAN MIDSTREAM HOLDINGS COM 55907R108 9,859 573,852 SH DEFINED 2,4,5 573,852
MAGNA INTERNATIONAL INC CL A 559222401 1,154 22,550 SH DEFINED 2 22,550
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
MANITOWOC COMPANY INC COM 563571108 4 260 SH DEFINED 1,2 260
MARKWEST ENERGY PARTNERS LP LTD PART570759100 10,702 423,352 SH DEFINED 2,4,5 423,352
MARRIOTT INTERNATIONAL CLA 571903202 851 32,600 SH DEFINED 1,2 32,600
MARSH & MCLENNAN COS COM 571748102 33 1,040 SH DEFINED 1,2 1,040
MARSHALL & ILSLEY CORP COM 571837103 10 520 SH DEFINED 1,2 520
MASCO CORP COM 574599106 13 720 SH DEFINED 1,2 720
MASTERCARD INC-CLASS A CL A 57636Q104 1,773 10,000 SH DEFINED 2 10,000
MATTEL INC COM 577081102 13 720 SH DEFINED 1,2 720
MBIA INC COM 55262C100 5 410 SH DEFINED 1,2 410
MCCORMICK & CO COM 579780206 10 260 SH DEFINED 1,2 260
MCDONALDS CORP COM 580135101 142 2,300 SH DEFINED 1,2 2,300
MCGRAW-HILL COMPANIES INC COM 580645109 20 640 SH DEFINED 1,2 640
MCKESSON CORP COM 58155Q103 31 580 SH DEFINED 1,2 580
MEADWESTVACO CORP COM 583334107 8 350 SH DEFINED 1,2 350
MEDCO HEALTH SOLUTIONS INC COM 58405U102 47 1,042 SH DEFINED 1,2 1,042
MEDIACOM COMMUNICATIONS CORPCL A 58446K105 1,480 250,000 SH DEFINED 2 250,000
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
MEDTRONIC INC COM 585055106 263 5,240 SH DEFINED 1,2 5,240
MEMC ELECTRONIC MATERIALS COM 552715104 13 460 SH DEFINED 1,2 460
MERCK & CO. INC. COM 589331107 136 4,320 SH DEFINED 1,2 4,320
MEREDITH CORP COM 589433101 2 80 SH DEFINED 1,2 80
MERRILL LYNCH & CO INC COM 590188108 49 1,940 SH DEFINED 1,2 1,940
METLIFE INC COM 59156R108 5,680 101,420 SH DEFINED 1,2 101,420
MGIC INVESTMENT CORP COM 552848103 2 240 SH DEFINED 1,2 240
MI DEVELOPMENTS INC-CLASS A CL A 55304X104 752 40,675 SH DEFINED 2 40,675
MICROCHIP TECHNOLOGY INC COM 595017104 11 380 SH DEFINED 1,2 380
MICRON TECHNOLOGY INC COM 595112103 6 1,510 SH DEFINED 1,2 1,510
MICROSOFT CORP COM 594918104 4,556 170,690 SH DEFINED 1,2 170,690
MILLIPORE CORP COM 601073109 8 110 SH DEFINED 1,2 110
MOLEX INC COM 608554101 6 280 SH DEFINED 1,2 280
MOLSON COORS BREWING CO CL B 60871R209 784 16,780 SH DEFINED 1,2 16,780
MONSANTO CO COM 61166W101 108 1,092 SH DEFINED 1,2 1,092
MONSTER WORLDWIDE INC COM 611742107 4 250 SH DEFINED 1,2 250
MOODYS CORP COM 615369105 14 410 SH DEFINED 1,2 410
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
MORGAN ST DEAN WITTER DISCOVCOM 617446448 771 33,525 SH DEFINED 1,2 33,525
MORGAN STANLEY QUAL MUNI SECSECS 61745P585 301 28,600 SH DEFINED 2,4 28,600
MOTOROLA INC COM 620076109 2,060 288,490 SH DEFINED 1,2 288,490
MURPHY OIL CORP COM 626717102 24 380 SH DEFINED 1,2 380
MYLAN INC COM 628530107 7 600 SH DEFINED 1,2 600
NABORS INDUSTRIES LTD SHS G6359F103 14 560 SH DEFINED 1,2 560
NARA BANCORP INC COM 63080P105 723 64,525 SH DEFINED 2 64,525
NATIONAL CITY CORP COM 635405103 472 269,860 SH DEFINED 1,2 269,860
NATIONAL OILWELL VARCO INC COM 637071101 42 830 SH DEFINED 1,2 830
NATIONAL SEMICONDUCTOR CORP COM 637640103 8 450 SH DEFINED 1,2 450
NAVIOS MARITIME PARTNERS LP UNIT LP Y62267102 226 30,000 SH DEFINED 2,4,5 30,000
NCI BUILDING SYSTEMS INC COM 628852105 401 12,625 SH DEFINED 2 12,625
NETAPP INC COM 64110D104 12 680 SH DEFINED 1,2 680
NEW YORK TIMES CO CL A 650111107 3 200 SH DEFINED 1,2 200
NEWELL RUBBERMAID INC COM 651229106 9 550 SH DEFINED 1,2 550
NEWMONT MINING CORP COM 651639106 35 910 SH DEFINED 1,2 910
NEWS CORP CL A 65248E104 4,851 404,580 SH DEFINED 1,2 404,580
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
NICOR INC COM 654086107 4 90 SH DEFINED 1,2 90
NII HOLDINGS INC NOTE 62913FAF9 2,772 2,800,000 PRN DEFINED 2,3 55,908
NIKE INC -CL B CL B 654106103 52 770 SH DEFINED 1,2 770
NISOURCE INC COM 65473P105 8 540 SH DEFINED 1,2 540
NOBLE CORP SHS G65422100 24 540 SH DEFINED 1,2 540
NOBLE ENERGY INC COM 655044105 19 350 SH DEFINED 1,2 350
NOKIA CORP SPONSORE654902204 839 45,000 SH DEFINED 2 45,000
NORDSTROM INC COM 655664100 872 30,260 SH DEFINED 1,2 30,260
NORFOLK SOUTHERN CORP COM 655844108 50 750 SH DEFINED 1,2 750
NORTHERN TRUST CORP COM 665859104 1,552 21,490 SH DEFINED 1,2 21,490
NORTHROP GRUMMAN CORP COM 666807102 41 678 SH DEFINED 1,2 678
NORTHWEST AIRLINES CORP COM 667280408 1,100 121,860 SH DEFINED 2 121,860
NOVELL INC COM 670006105 4 700 SH DEFINED 1,2 700
NOVELLUS SYSTEMS INC COM 670008101 4 200 SH DEFINED 1,2 200
NRG ENERGY INC COM 629377508 1,056 42,670 SH DEFINED 2 42,670
NUCOR CORP COM 670346105 25 630 SH DEFINED 1,2 630
NVIDIA CORP COM 67066G104 12 1,110 SH DEFINED 1,2 1,110
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
NYSE EURONEXT COM 629491101 21 530 SH DEFINED 1,2 530
OCCIDENTAL PETROLEUM COM 674599105 6,456 91,640 SH DEFINED 1,2 91,640
OFFICE DEPOT INC COM 676220106 3 540 SH DEFINED 1,2 540
OFFICEMAX INC COM 67622P101 1 150 SH DEFINED 1,2 150
OLD REPUBLIC INTL CORP COM 680223104 866 67,922 SH DEFINED 2 67,922
OMNICOM GROUP COM 681919106 25 640 SH DEFINED 1,2 640
OPNEXT INC COM 68375V105 1,071 233,426 SH DEFINED 2,4 233,426
ORACLE CORP COM 68389X105 4,222 207,880 SH DEFINED 1,2 207,880
P G & E CORP COM 69331C108 27 710 SH DEFINED 1,2 710
PACCAR INC COM 693718108 28 730 SH DEFINED 1,2 730
PACTIV CORPORATION COM 695257105 6 260 SH DEFINED 1,2 260
PALL CORP COM 696429307 9 250 SH DEFINED 1,2 250
PARKER HANNIFIN CORP COM 701094104 18 335 SH DEFINED 1,2 335
PATTERSON COS INC COM 703395103 8 260 SH DEFINED 1,2 260
PAYCHEX INC COM 704326107 21 650 SH DEFINED 1,2 650
PEABODY ENERGY CORP COM 704549104 24 540 SH DEFINED 1,2 540
PENN VIRGINIA GP HOLDINGS LPCOM 70788P105 1,452 69,515 SH DEFINED 2,4,5 69,515
PENN VIRGINIA RESOURCE PARTNCOM 707884102 2,806 170,148 SH DEFINED 2,4,5 170,148
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
PEPCO HOLDINGS INC COM 713291102 9 400 SH DEFINED 1,2 400
PEPSI BOTTLING GROUP INC COM 713409100 8 270 SH DEFINED 1,2 270
PEPSICO INCORPORATED COM 713448108 1,860 26,100 SH DEFINED 1,2 26,100
PERKINELMER INC COM 714046109 6 230 SH DEFINED 1,2 230
PETRO-CANADA COM 71644E102 2,001 60,000 SH DEFINED 2 60,000
PFIZER INC COM 717081103 1,316 71,370 SH DEFINED 1,2 71,370
PHARMACEUTICAL HOLDRS TRUST DEPOSITR71712A206 830 12,500 SH DEFINED 2 12,500
PHARMANET DEVELOPMENT GROUP COM 717148100 151 20,950 SH DEFINED 2 20,950
PHH CORP COM 693320202 758 57,050 SH DEFINED 2 57,050
PHILIP MORRIS INTERNATIONAL COM 718172109 924 19,200 SH DEFINED 1,2 19,200
PIKE ELECTRIC CORP COM 721283109 691 46,925 SH DEFINED 2 46,925
PINNACLE WEST CAPITAL COM 723484101 7 200 SH DEFINED 1,2 200
PIONEER NATURAL RESOURCES COCOM 723787107 1,307 25,000 SH DEFINED 2 25,000
PITNEY BOWES INC COM 724479100 14 420 SH DEFINED 1,2 420
PLAIMS ALL AMER PIPELINE LP UNIT LP 726503105 3,910 98,700 SH DEFINED 2,4,5 98,700
PLANTRONICS INC COM 727493108 878 39,000 SH DEFINED 2 39,000
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
PLUM CREEK TIMBER CO COM 729251108 17 340 SH DEFINED 1,2 340
PNC FINANCIAL SERVICES GROUPCOM 693475105 51 680 SH DEFINED 1,2 680
POLO RALPH LAUREN CORP CL A 731572103 8 120 SH DEFINED 1,2 120
POPULAR INC COM 733174106 1,959 236,250 SH DEFINED 2 236,250
PPG INDUSTRIES INC COM 693506107 19 330 SH DEFINED 1,2 330
PPL CORPORATION COM 69351T106 28 750 SH DEFINED 1,2 750
PRAXAIR INC COM 74005P104 1,480 20,630 SH DEFINED 1,2 20,630
PRECISION CASTPARTS CORP COM 740189105 22 280 SH DEFINED 1,2 280
PRINCIPAL FINANCIAL GROUP COM 74251V102 23 520 SH DEFINED 1,2 520
PROCTER & GAMBLE CO COM 742718109 1,404 20,140 SH DEFINED 1,2 20,140
PROGRESS ENERGY INC COM 743263105 22 520 SH DEFINED 1,2 520
PROGRESSIVE CORP COM 743315103 23 1,350 SH DEFINED 1,2 1,350
PROLOGIS INT 743410102 21 520 SH DEFINED 1,2 520
PRUDENTIAL FINANCIAL INC COM 744320102 64 890 SH DEFINED 1,2 890
PUBLIC SERVICE CO OF N MEX COM 69349H107 630 61,475 SH DEFINED 2 61,475
PUBLIC SERVICE ENTERPRISE GPCOM 744573106 33 1,020 SH DEFINED 1,2 1,020
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
PUBLIC STORAGE COM 74460D109 25 250 SH DEFINED 1,2 250
PULTE HOMES INC COM 745867101 6 420 SH DEFINED 1,2 420
QLOGIC CORP COM 747277101 4 260 SH DEFINED 1,2 260
QUALCOMM INC COM 747525103 783 18,220 SH DEFINED 1,2 18,220
QUEST DIAGNOSTICS COM 74834L100 17 320 SH DEFINED 1,2 320
QUESTAR CORP COM 748356102 14 350 SH DEFINED 1,2 350
QUICKSILVER GAS SERVICES LP COM 74839G106 3,005 164,667 SH DEFINED 2,4,5 164,667
QWEST COMMUNICATIONS INTL COM 749121109 10 3,060 SH DEFINED 1,2 3,060
RADIO ONE INC CL D 75040P405 79 105,700 SH DEFINED 2 105,700
RADIOSHACK CORP COM 750438103 4 260 SH DEFINED 1,2 260
RAIT FINANCIAL TRUST COM 749227104 99 18,000 SH DEFINED 2,4 18,000
RANGE RESOURCES CORP COM 75281A109 13 300 SH DEFINED 1,2 300
RAYTHEON COMPANY COM 755111507 45 850 SH DEFINED 1,2 850
REGENCY ENERGY PARTNERS LP COM 75885Y107 8,541 465,715 SH DEFINED 2,4,5 465,715
REGIONS FINANCIAL CORP COM 7591EP100 13 1,380 SH DEFINED 1,2 1,380
REGIS CORP COM 758932107 916 33,325 SH DEFINED 2 33,325
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
RENAISSANCERE HOLDINGS LTD COM G7496G103 2,343 45,050 SH DEFINED 2 45,050
RENT-A-CENTER INC COM 76009N100 2,857 128,225 SH DEFINED 2 128,225
REYNOLDS AMERICAN INC COM 761713106 17 340 SH DEFINED 1,2 340
ROBERT HALF INTL INC COM 770323103 8 320 SH DEFINED 1,2 320
ROCKWELL COLLINS INC. COM 774341101 16 330 SH DEFINED 1,2 330
ROCKWELL INTL CORP COM 773903109 4,585 122,800 SH DEFINED 1,2 122,800
ROHM AND HAAS CO COM 775371107 18 250 SH DEFINED 1,2 250
ROWAN COS INC COM 779382100 2,756 90,220 SH DEFINED 1,2 90,220
RR DONNELLEY & SONS CO COM 257867101 11 430 SH DEFINED 1,2 430
RYDER SYSTEM INC COM 783549108 7 120 SH DEFINED 1,2 120
SAFEWAY INC COM 786514208 21 880 SH DEFINED 1,2 880
SANDISK CORP COM 80004C101 9 460 SH DEFINED 1,2 460
SANGAMO BIOSCIENCES INC COM 800677106 245 31,775 SH DEFINED 2 31,775
SARA LEE CORP COM 803111103 1,476 116,896 SH DEFINED 1,2 116,896
SCHERING PLOUGH COM 806605101 1,345 72,805 SH DEFINED 1,2 72,805
SCHLUMBERGER LIMITED COM 806857108 1,194 15,290 SH DEFINED 1,2 15,290
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
SCHWAB (CHARLES) CORP COM 808513105 49 1,870 SH DEFINED 1,2 1,870
SCHWEITZER-MAUDUIT INTL INC COM 808541106 963 50,700 SH DEFINED 2 50,700
SCRIPPS NETWORKS INTER COM 811065101 7 180 SH DEFINED 1,2 180
SEALED AIR CORP COM 81211K100 7 320 SH DEFINED 1,2 320
SEALY CORP COM 812139301 554 85,775 SH DEFINED 2 85,775
SEARS HOLDINGS CORP COM 812350106 1,194 12,770 SH DEFINED 1,2,4 12,770
SEMGROUP ENERGY PARTNERS LP UNIT LP 81662W108 4,052 580,460 SH DEFINED 2,4,5 580,460
SEMPRA ENERGY COM 816851109 1,723 34,145 SH DEFINED 1,2 34,145
SEPRACOR INC NOTE 817315AT1 1,560 1,600,000 PRN DEFINED 2 50,168
SHERWIN-WILLIAMS CO/THE COM 824348106 11 200 SH DEFINED 1,2 200
SIGMA-ALDRICH COM 826552101 14 260 SH DEFINED 1,2 260
SIMON PROPERTY GROUP INC COM 828806109 44 450 SH DEFINED 1,2 450
SLM CORP COM 78442P106 11 930 SH DEFINED 1,2 930
SMITH INTERNATIONAL INC COM 832110100 23 400 SH DEFINED 1,2 400
SNAP-ON INC COM 833034101 6 120 SH DEFINED 1,2 120
SOUTHERN CO COM 842587107 57 1,520 SH DEFINED 1,2 1,520
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
SOUTHWEST AIRLINES CO COM 844741108 21 1,460 SH DEFINED 1,2 1,460
SOUTHWESTERN ENERGY CO COM 845467109 21 680 SH DEFINED 1,2 680
SOVEREIGN BANCORP INC COM 845905108 4 945 SH DEFINED 1,2 945
SPDR GOLD TRUST SHS 78463V107 17,014 200,000 SH DEFINED 2 200,000
SPECTRA ENERGY CORP COM 847560109 30 1,259 SH DEFINED 1,2 1,259
SPECTRA ENERGY PARTNERS LP COM 84756N109 4,420 232,646 SH DEFINED 2,4 232,646
SPHERION CORPORATION COM 848420105 83 17,125 SH DEFINED 2 17,125
SPRINT NEXTEL CORP COM 852061100 35 5,678 SH DEFINED 1,2 5,678
ST JUDE MEDICAL INC COM 790849103 900 20,690 SH DEFINED 1,2 20,690
STANLEY WORKS/THE COM 854616109 7 160 SH DEFINED 1,2 160
STAPLES INC COM 855030102 133 5,900 SH DEFINED 1,2 5,900
STARBUCKS CORP COM 855244109 51 3,450 SH DEFINED 1,2 3,450
STARWOOD HOTELS & RESORTS COM 85590A401 11 380 SH DEFINED 1,2 380
STATE STREET CORP COM 857477103 48 850 SH DEFINED 1,2 850
STEWART INFORMATION SERVICESCOM 860372101 725 24,375 SH DEFINED 2 24,375
STONE CONTAINER CORP COM 832727101 940 200,000 SH DEFINED 2 200,000
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
STRYKER CORP COM 863667101 30 480 SH DEFINED 1,2 480
SUN MICROSYSTEMS INC COM 866810203 12 1,577 SH DEFINED 1,2 1,577
SUNOCO INC COM 86764P109 9 240 SH DEFINED 1,2 240
SUNTRUST BANKS INC COM 867914103 31 700 SH DEFINED 1,2 700
SUPERVALU INC COM 868536103 9 421 SH DEFINED 1,2 421
SYMANTEC CORP COM 871503108 33 1,684 SH DEFINED 1,2 1,684
SYSCO CORP COM 871829107 37 1,200 SH DEFINED 1,2 1,200
T ROWE PRICE GROUP INC COM 74144T108 28 530 SH DEFINED 1,2 530
TALISMAN ENERGY INC COM 87425E103 4,266 300,000 SH DEFINED 2 300,000
TARGA RESOURCES PARTNERS LP UNIT 87611X105 1,021 60,000 SH DEFINED 2,4,5 60,000
TARGET CORP COM 87612E106 80 1,630 SH DEFINED 1,2 1,630
TECH DATA CORP COM 878237106 659 22,075 SH DEFINED 2 22,075
TECO ENERGY INC COM 872375100 7 420 SH DEFINED 1,2 420
TELLABS INC COM 879664100 3 820 SH DEFINED 1,2 820
TENET HEALTHCARE CORP CL A 88033G100 5 940 SH DEFINED 1,2 940
TERADATA CORP COM 88076W103 7 360 SH DEFINED 1,2 360
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
TERADYNE INC COM 880770102 3 340 SH DEFINED 1,2 340
TEREX CORP COM 880779103 6 210 SH DEFINED 1,2 210
TESORO CORP COM 881609101 4 270 SH DEFINED 1,2 270
TEXAS INSTRUMENTS INC COM 882508104 57 2,640 SH DEFINED 1,2 2,640
TEXTRON INC COM 883203101 548 18,700 SH DEFINED 1,2 18,700
THERMO FISHER SCIENTIFIC INCCOM 883556102 46 840 SH DEFINED 1,2 840
TICKETMASTER COM 88633P302 1 72 SH DEFINED 1,2 72
TIFFANY & CO COM 886547108 9 250 SH DEFINED 1,2 250
TIME WARNER INC COM 887317105 93 7,120 SH DEFINED 1,2 7,120
TITANIUM METALS CORP COM 888339207 2 190 SH DEFINED 1,2 190
TJX COS. INC. NEW COM 872540109 593 19,420 SH DEFINED 1,2 19,420
TORCHMARK CORP COM 891027104 1,181 19,755 SH DEFINED 1,2 19,755
TOTAL SYSTEM SERVICES INC COM 891906109 6 390 SH DEFINED 1,2 390
TRANSMONTAIGNE PARTNERS LP COM 89376V100 7,935 378,400 SH DEFINED 2,4,5 378,400
TRANSOCEAN INC SHS G90073100 70 634 SH DEFINED 1,2 634
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
TRAVELERS COS INC/THE COM 89417E109 56 1,237 SH DEFINED 1,2 1,237
TREE.COM INC COM 894675107 0 11 SH DEFINED 1,2 11
TREX COMPANY INC COM 89531P105 1,004 55,425 SH DEFINED 2 55,425
TYCO ELECTRONICS LTD COM G9144P105 27 972 SH DEFINED 1,2 972
TYCO INTERNATIONAL LTD SHS G9143X208 34 972 SH DEFINED 1,2 972
TYSON FOODS INC CL A 902494103 6 540 SH DEFINED 1,2 540
UNILEVER NV SHS 904784709 1,843 65,450 SH DEFINED 2 65,450
UNION PACIFIC CORP COM 907818108 74 1,040 SH DEFINED 1,2 1,040
UNISYS CORP COM 909214108 2 700 SH DEFINED 1,2 700
UNITED NATIONAL GROUP LTD COM 90933T109 951 66,200 SH DEFINED 2 66,200
UNITED PARCEL SERVICE CL B 911312106 130 2,060 SH DEFINED 1,2 2,060
UNITED STATES STEEL CORP COM 912909108 19 240 SH DEFINED 1,2 240
UNITED STATIONERS INC COM 913004107 671 14,025 SH DEFINED 2 14,025
UNITED TECHNOLOGIES CORP. COM 913017109 1,079 17,960 SH DEFINED 1,2 17,960
UNITEDHEALTH GROUP INC COM 91324P102 63 2,490 SH DEFINED 1,2 2,490
UNIVERSAL CORP-VA COM 913456109 598 12,175 SH DEFINED 2 12,175
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
UNUM GROUP COM 91529Y106 17 690 SH DEFINED 1,2 690
US BANCORP COM 902973304 124 3,450 SH DEFINED 1,2 3,450
UST INC COM 902911106 20 300 SH DEFINED 1,2 300
USX - MARATHON GROUP INC COM 565849106 535 13,416 SH DEFINED 1,2 13,416
VALERO ENERGY CORP COM 91913Y100 32 1,070 SH DEFINED 1,2 1,070
VARIAN MEDICAL SYSTEMS INC COM 92220P105 14 250 SH DEFINED 1,2 250
VERISIGN INC COM 92343E102 10 390 SH DEFINED 1,2 390
VERIZON COMMUNICATIONS INC COM 92343V104 184 5,720 SH DEFINED 1,2 5,720
VF CORP COM 918204108 14 180 SH DEFINED 1,2 180
VIACOM INC CL B 92553P201 32 1,280 SH DEFINED 1,2 1,280
VIAD CORP COM 92552R406 615 21,369 SH DEFINED 2 21,369
VISA INC-CLASS A SHARES CL A 92826C839 1,151 18,750 SH DEFINED 2 18,750
VORNADO REALTY TRUST INT 929042109 25 270 SH DEFINED 1,2 270
VULCAN MATERIALS CO COM 929160109 16 220 SH DEFINED 1,2 220
WACHOVIA CORP COM 929903102 453 129,490 SH DEFINED 1,2 129,490
WAL MART STORES INC COM 931142103 1,555 25,960 SH DEFINED 1,2 25,960
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
WALGREEN CO COM 931422109 61 1,980 SH DEFINED 1,2 1,980
WALT DISNEY CO/THE COM 254687106 115 3,750 SH DEFINED 1,2 3,750
WASHINGTON MUTUAL INC COM 939322103 0 2,110 SH DEFINED 1,2 2,110
WASHINGTON POST CL B 939640108 11 20 SH DEFINED 1,2 20
WASTE MANAGEMENT INC COM 94106L109 31 990 SH DEFINED 1,2 990
WATERS CORP COM 941848103 12 200 SH DEFINED 1,2 200
WATSON PHARMACEUTICALS INC COM 942683103 6 210 SH DEFINED 1,2 210
WEATHERFORD INTL LTD COM G95089101 662 26,350 SH DEFINED 1,2 26,350
WELLPOINT INC COM 94973V107 51 1,080 SH DEFINED 1,2 1,080
WELLS FARGO & CO COM 949746101 247 6,570 SH DEFINED 1,2 6,570
WESTERN UNION CO COM 959802109 37 1,489 SH DEFINED 1,2 1,489
WEYERHAEUSER CO COM 962166104 25 420 SH DEFINED 1,2 420
WHIRLPOOL CORPORATION COM 963320106 2,013 25,383 SH DEFINED 1,2 25,383
WHOLE FOODS MARKET INC COM 966837106 6 280 SH DEFINED 1,2 280
WILLIAMS COS INC COM 969457100 3,468 146,650 SH DEFINED 1,2 146,650
WILLIAMS PIPELINE PARTNERS LCOM 96950K103 4,344 311,205 SH DEFINED 2,4 311,205
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Name Title Shares or Voting Authority
of of CUSIP Value Principal SH/ Put/ Investment Other ------------------
Issuer Class Number (x$1000) Amount PRN Call Discretion Mgrs Sole Shared None
WINDSTREAM CORP COM 97381W104 10 896 SH DEFINED 1,2 896
WISCONSIN ENERGY CORP COM 976657106 1,584 35,275 SH DEFINED 2 35,275
WRIGLEY WM JR CO COM 982526105 35 435 SH DEFINED 1,2 435
WW GRAINGER INC COM 384802104 12 140 SH DEFINED 1,2 140
WYETH COM 983024100 917 24,830 SH DEFINED 1,2 24,830
WYETH DBCV 983024AD2 5,059 5,203,000 PRN DEFINED 2,3 86,156
WYNDHAM WORLDWIDE CORP COM 98310W108 5 350 SH DEFINED 1,2 350
XCEL ENERGY INC COM 98389B100 17 850 SH DEFINED 1,2 850
XEROX CORP COM 984121103 5,786 501,820 SH DEFINED 1,2 501,820
XILINX INC COM 983919101 13 570 SH DEFINED 1,2 570
XL CAPITAL LTD CL A G98255105 402 22,400 SH DEFINED 1,2 22,400
XTO ENERGY INC COM 98385X106 47 1,015 SH DEFINED 1,2 1,015
YAHOO! INC COM 984332106 46 2,660 SH DEFINED 1,2 2,660
YUM! BRANDS INC COM 988498101 31 950 SH DEFINED 1,2 950
ZIMMER HOLDINGS INC COM 98956P102 30 470 SH DEFINED 1,2 470
ZIONS BANCORPORATION COM 989701107 8 210 SH DEFINED 1,2 210