UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2005
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: BancorpSouth, Inc.
Address: One Mississippi Plaza
201 South Spring Street
Tupelo, MS 38804
Form 13F File Number: 28-10453
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: Cathy S. Freeman
Title: Senior Vice President and Corporate Secretary
Phone: (662) 680-2084
Signature, Place, and Date of Signing:
/s/ Cathy S. Freeman Tupelo, Mississippi February 7, 2006
-------------------- ------------------- ----------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
List of Other Managers Reporting for this Manager: None.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 773
Form 13F Information Table Value Total: $1,073,174
(thousands)
LIST OF OTHER INCLUDED MANAGERS:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
No. Form 13F File Number Name
--- -------------------- -----------------
1 28-10939 BancorpSouth Bank
2
FORM 13F INFORMATION TABLE
** VOTING AUTHORITY **
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MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ----- --- ---- ---------- -------- ----- ------ -----
DEUTSCHE BANK-EUR D18190898 27 281 SH SOLE 1 0 0 281
ACE LIMITED G0070K103 60 1128 SH SOLE 1 147 0 981
AMERICAN SAFETY G02995101 6 390 SH SOLE 1 0 0 390
INSURANCE HOLDINGS LTD
ARLINGTON TANKERS LTD G04899103 59 2750 SH SOLE 1 791 0 1959
GLOBAL SANTAFE CORP G3930E101 314 6525 SH SOLE 1 250 0 6275
INGSOLL-RAND CO CL A G4776G101 209 5200 SH SOLE 1 5200 0 0
BERMUDA
MARVELL TECHNOLOGY G5876H105 134 2400 SH SOLE 1 0 0 2400
GROUP
MONTPELIER RE HLD LTDF G62185106 177 9400 SH SOLE 1 9400 0 0
NABORS INDUSTRIES G6359F103 13 180 SH SOLE 1 0 0 180
SEAGATE TECHNOLOGY SHS G7945J104 17 860 SH SOLE 1 0 0 860
ALCON INC H01301102 129 1000 SH SOLE 1 0 0 1000
MIND C.T.I. LTD COM M70240102 5 2000 SH SOLE 1 2000 0 0
M SYS FLASH DISK M7061C100 14 450 SH SOLE 1 0 0 450
PIONEERS LTORD
A F L A C INC 001055102 92 2000 SH SOLE 1 2000 0 0
AGL RESOURCES, INC 001204106 15 450 SH SOLE 1 450 0 0
AT&T INC COM 00206R102 854 34901 SH SOLE 1 24893 0 10008
AT&T INC COM 00206R102 71 2908 SH DEFINED 1 818 2090 0
ATMI INC 00207R101 22 793 SH SOLE 1 116 0 677
ABBOTT LAB 002824100 367 9321 SH SOLE 1 7321 0 2000
ABBOTT LAB 002824100 165 4200 SH DEFINED 1 200 4000 0
ACE CASH EXPRESS INC COM 004403101 28 1240 SH SOLE 1 185 0 1055
ACTUANT CORP CLASS A 00508X203 22 405 SH SOLE 1 0 0 405
ACXIOM CORP COM 005125109 11 490 SH SOLE 1 490 0 0
ADAMS EXPRESS CO COM 006212104 104 8365 SH SOLE 1 8365 0 0
ADOBE SYSTEMS 00724F101 151 4100 SH SOLE 1 0 0 4100
INCORPORATED DELAWARE
AEGON N V ORD 007924103 52 3215 SH SOLE 1 0 0 3215
AETNA INC COM 00817Y108 18 200 SH DEFINED 1 0 0 200
AGILENT TECHNOLOGIES, 00846U101 1 59 SH SOLE 1 59 0 0
INC.
AGNICO EAGLE MINES 008474108 9 500 SH SOLE 1 500 0 0
AIR PRODS & CHEMS INC COM 009158106 6 104 SH SOLE 1 0 0 104
AIRTRAN HLDGS INC COM 00949P108 7 455 SH SOLE 1 0 0 455
AIXTRON ADR 009606104 1 510 SH SOLE 1 510 0 0
AKTIENGELELLSCHAFT
ALCOA INC 013817101 143 4856 SH SOLE 1 2830 0 2026
ALCATEL SPONSORED 013904305 374 30235 SH SOLE 1 1080 0 29155
ADR
ALLIANCE CAP MGMT 01855A101 112 2000 SH DEFINED 1 2000 0 0
HLDG L P
ALLIANT TECHSYSTEMS, 018804104 56 747 SH SOLE 1 114 0 633
INC
ALLIED CAP CO FUND 01903Q108 9 315 SH SOLE 1 315 0 0
ALLSTATE CORP COMMON 020002101 670 12407 SH SOLE 1 8226 0 4181
ALLSTATE CORP COMMON 020002101 16 310 SH DEFINED 1 310 0 0
ALLTEL CORP 020039103 77 1228 SH SOLE 1 1008 0 220
ALLTEL CORP 020039103 492 7800 SH DEFINED 1 7800 0 0
ALTERA CORP 021441100 3 200 SH SOLE 1 200 0 0
ALTRIA GROUP INC 02209S103 1160 15529 SH SOLE 1 10623 0 4906
AMBAC FINANCIAL GROUP 023139108 3 50 SH SOLE 1 50 0 0
AMERCO 023586100 57 793 SH SOLE 1 120 0 673
AMERICAN ELECTRIC 025537101 178 4800 SH SOLE 1 1300 0 3500
POWER
AMER EXPRESS CO 025816109 243 4735 SH SOLE 1 1935 0 2800
AMERICAN 026874107 657 9644 SH SOLE 1 4755 0 4889
INTERNATIONAL GROUP,
INC
AMERICAN 026874107 11 175 SH DEFINED 1 175 0 0
INTERNATIONAL GROUP,
INC
AMERISAFE INC CL A 03071H100 6 690 SH SOLE 1 0 0 690
AMERUS LIFE HOLDINGS 03072M108 107 1889 SH SOLE 1 1889 0 0
AMERIPRISE FINL INC 03076C106 15 387 SH SOLE 1 387 0 0
AMGEN INC 031162100 364 4618 SH SOLE 1 1008 0 3610
AMGEN INC 031162100 15 200 SH DEFINED 1 200 0 0
AMSOUTH BANCORPORATION 032165102 707 26989 SH SOLE 1 26989 0 0
ANADARKO PETE CORP 032511107 16 172 SH SOLE 1 27 0 145
ANADARKO PETE CORP 032511107 138 1464 SH DEFINED 1 0 1464 0
ANGIODYNAMICS INC COM 03475V101 16 630 SH SOLE 1 0 0 630
ANGLO AMERICAN PLC SP ADR 03485P102 39 1124 SH SOLE 1 0 0 1124
ANHEUSER-BUSCH 035229103 353 8221 SH SOLE 1 7126 0 1095
COMPANIES
ANHEUSER-BUSCH 035229103 154 3600 SH DEFINED 1 3600 0 0
** VOTING AUTHORITY **
------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ----- --- ---- ---------- -------- ----- ------ -----
COMPANIES
ANTEON INTERNATIONAL 03674E108 12 235 SH SOLE 1 0 0 235
CORP
AON CORP 037389103 14 407 SH SOLE 1 0 0 407
APPLE COMP INC 037833100 143 2000 SH SOLE 1 0 0 2000
APPLE COMP INC 037833100 100 1400 SH DEFINED 1 1400 0 0
APPLIED MATERIALS INC 038222105 806 44966 SH SOLE 1 24843 0 20123
ARCHER-DANIELS-MIDLAND 039483102 6 279 SH SOLE 1 279 0 0
COMPANY
ARGONAUT GROUP INC 040157109 16 505 SH SOLE 1 0 0 505
ARTHROCARE CORP COM 043136100 14 335 SH SOLE 1 0 0 335
ARVINMERITOR 043353101 0 44 SH SOLE 1 44 0 0
ASHFORD HOSPITALITY 044103109 55 5315 SH SOLE 1 805 0 4510
TRUST INC
AUGUST TECHNOLOGY CORP 05106U105 3 350 SH SOLE 1 0 0 350
AUTOLIV INC COM 052800109 15 334 SH SOLE 1 334 0 0
AUTO DATA PROCESS 053015103 208 4550 SH SOLE 1 4550 0 0
AUTO DATA PROCESS 053015103 100 2200 SH DEFINED 1 2200 0 0
AUTOZONE 053332102 18 200 SH SOLE 1 200 0 0
AUTOZONE 053332102 43 472 SH DEFINED 1 472 0 0
AVAYA INC 053499109 1 172 SH SOLE 1 172 0 0
AVON PRODUCTS INC COM 054303102 39 1400 SH SOLE 1 1400 0 0
BB&T CORP 054937107 19 464 SH SOLE 1 464 0 0
BASF AG ADR 055262505 41 547 SH SOLE 1 0 0 547
BCE INC 05534B109 23 977 SH SOLE 1 0 0 977
BKF CAP GROUP INC COM 05548G102 7 410 SH SOLE 1 60 0 350
BJ SERVICES CO 055482103 304 8297 SH SOLE 1 302 0 7995
BP AMOCO PLC SPONSORED 055622104 520 8098 SH SOLE 1 7586 0 512
ADR
BP AMOCO PLC SPONSORED 055622104 244 3810 SH DEFINED 1 0 0 3800
ADR
BALDOR ELEC CO COM 057741100 35527 1385627 SH DEFINED 1 1385627 0 0
BANCORPSOUTH INC 059692103 27033 1225475 SH SOLE 1 1224475 0 1000
BANCORPSOUTH INC 059692103 1598 72474 SH DEFINED 1 69545 2592 337
BANK OF AMERICA CORP NEW COM 060505104 911 19741 SH SOLE 1 11354 0 8387
BANK OF AMERICA CORP NEW COM 060505104 27 600 SH DEFINED 1 600 0 0
BANK OF THE OZARKS, 063904106 3401 92200 SH DEFINED 1 92200 0 0
INC
BAXTER INTL INC 071813109 75 2000 SH SOLE 1 2000 0 0
BAXTER INTL INC PFD 071813406 10 200 SH SOLE 1 200 0 0
BEAR STEARNS COS INC 073902108 99 857 SH SOLE 1 857 0 0
BELLSOUTH CORP 079860102 761 28114 SH SOLE 1 22274 0 5840
BELLSOUTH CORP 079860102 73 2696 SH DEFINED 1 400 2296 0
BERKSHIRE HATHAWAY "A" 084670108 88 1 SH SOLE 1 1 0 0
BERKSHIRE HATHAWAY CL B 084670207 8 3 SH DEFINED 1 3 0 0
INC DEL
BLACKROCK INVT 09247D105 53 3000 SOLE 1 3000 0 0
QUALITY MUNI TR INC
BLOCK H & R INC COM 093671105 5 204 SH SOLE 1 0 0 204
BOEING INC 097023105 77 1100 SH SOLE 1 500 0 600
BOSTON SCIENTIFIC 101137107 64 2635 SH SOLE 1 110 0 2525
BRIGGS & STRATTON CORP 109043109 55 1440 SH SOLE 1 215 0 1225
BRISTOL MYERS SQUIBB 110122108 263 11480 SH SOLE 1 11480 0 0
CO
BRISTOL MYERS SQUIBB 110122108 13 600 SH DEFINED 1 600 0 0
CO
BROADCOM CORP 111320107 9 200 SH SOLE 1 200 0 0
BUILD-A-BEAR WORKSHOP 120076104 7 260 SH SOLE 1 0 0 260
INC
BUILDERS FIRSTSOURCE COM 12008R107 14 700 SH SOLE 1 0 0 700
INC
BURLINGTON 12189T104 21 310 SH SOLE 1 310 0 0
NORTHERN/SANTA FE CORP
CB RICHARD ELLIS 12497T101 37 645 SH SOLE 1 95 0 550
GROUP CLASS A
CIGNA CORPORATION 125509109 165 1478 SH SOLE 1 101 0 1377
CVS CORP DELAWARE 126650100 93 3537 SH SOLE 1 675 0 2862
CADBURY SCHWEPPES PLC ADR 127209302 155 4074 SH SOLE 1 1200 0 2874
CADENCE DESIGN 127387108 72 4308 SH SOLE 1 181 0 4127
SYSTEMS INC
CALIFORNIA PIZZA 13054D109 22 695 SH SOLE 1 0 0 695
KITCHEN INCCOM
CANON INC ADR REPSTG 138006309 57 982 SH SOLE 1 0 0 982
5 SHRS
CAPITAL ONE FINL CORP COM 14040H105 1342 15537 SH SOLE 1 15537 0 0
CAREMARK RX INC 141705103 93 1800 SH SOLE 1 0 0 1800
CARNIVAL CORP 143658300 85 1605 SH SOLE 1 212 0 1393
CARTERS INC 146229109 57 980 SH SOLE 1 0 0 980
CATERPILLAR INC 149123101 20 350 SH SOLE 1 350 0 0
CELADON GROUP INC 150838100 17 610 SH SOLE 1 0 0 610
CENDANT CORP COM 151313103 690 40001 SH SOLE 1 39620 0 381
CENTERPOINT ENERGY INC 15189T107 9 724 SH SOLE 1 224 0 500
CENTURY ALUMINUM CO 156431108 20 770 SH SOLE 1 120 0 650
CENTURYTEL, INC 156700106 66 2000 SH SOLE 1 2000 0 0
CERNER CORP COM 156782104 2 24 SH SOLE 1 24 0 0
** VOTING AUTHORITY **
------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ----- --- ---- ---------- -------- ----- ------ -----
CHEMTURA CORP COM 163893100 67 5335 SH SOLE 1 0 5335 0
CHEVRON CORPORATION 166764100 1214 21395 SH SOLE 1 9636 0 11759
CHEVRON CORPORATION 166764100 127 2254 SH DEFINED 1 2254 0 0
CHICO'S FAS INC 168615102 118 2700 SH SOLE 1 0 0 2700
CINERGY 172474108 3 75 SH SOLE 1 75 0 0
CISCO SYS INC 17275R102 768 44908 SH SOLE 1 26868 0 18040
CITIGROUP, INC 172967101 673 13879 SH SOLE 1 9944 0 3935
CITIGROUP, INC 172967101 354 7307 SH DEFINED 1 7307 0 0
CITIZENS HOLDING 174715102 3583 158987 SH SOLE 1 158987 0 0
COMPANY
COACH INC 189754104 90 2700 SH SOLE 1 0 0 2700
COCA COLA CO 191216100 902 22397 SH SOLE 1 16445 0 5952
COCA COLA CO 191216100 226 5625 SH DEFINED 1 5225 0 400
COCA COLA ENTERPRISES 191219104 38 2000 SH SOLE 1 2000 0 0
INC COM
COLGATE-PALMOLIVE CO 194162103 186 3407 SH SOLE 1 3312 0 95
COLONIAL PPTYS TR COM SH BEN 195872106 1 26 SH SOLE 1 0 0 26
INT
COMCAST CORP NEW CL A 20030N101 4 175 SH SOLE 1 175 0 0
COM
COMCAST CORP NEW CL A 20030N101 10 401 SH DEFINED 1 0 401 0
COM
COMPUTER ASSOC INTL COM 204912109 1087 38600 SH SOLE 1 38600 0 0
INC
COMPUTER SCIENCES COMMON 205363104 5 99 SH DEFINED 1 0 0 99
CORPORATION
COMSTOCK HOMEBUILDING 205684103 7 525 SH SOLE 1 0 0 525
COS
CONAGRA FOODS INC COM 205887102 9 485 SH SOLE 1 0 0 485
CONEXANT SYS INC COM 207142100 0 176 SH SOLE 1 176 0 0
CONNETICS CORPORATION 208192104 13 900 SH SOLE 1 0 0 900
CONN'S INC 208242107 21 590 SH SOLE 1 0 0 590
CONN'S INC 208242107 29 800 SH DEFINED 1 800 0 0
CONOCO PHILLIPS 20825C104 650 11183 SH SOLE 1 8732 0 2451
CONSECO INC NEW 208464883 105 4543 SH SOLE 1 1033 0 3510
CONSOLIDATED EDISON 209115104 1 34 SH SOLE 1 0 0 34
INC COM
CONSOLIDATED GRAPHICS 209341106 38 810 SH SOLE 1 115 0 695
INC
COOPER TIRE & RUBBER 216831107 244 15953 SH SOLE 1 14953 0 1000
CO
COOPER TIRE & RUBBER 216831107 1 100 SH DEFINED 1 100 0 0
CO
CORN PRODUCTS 219023108 49 2060 SH SOLE 1 305 0 1755
INTERNATIONAL INC
COSI INC COM 22122P101 6 820 SH SOLE 1 0 0 820
COSTCO WHOLESALE CORP 22160K105 173 3515 SH SOLE 1 795 0 2720
COVENTRY HEALTH CARE 222862104 10 185 SH SOLE 1 185 0 0
INC
CREDIT SUISSE GROUP ADR 225401108 47 928 SH SOLE 1 94 0 834
CYBERSOURCE CORP COM 23251J106 12 1830 SH SOLE 1 0 0 1830
DNP SELECT INCOME FD 23325P104 11 1100 SH SOLE 1 1100 0 0
INC
DRS TECHNOLOGIES INC 23330X100 45 876 SH SOLE 1 134 0 742
DTE ENERGY CO 233331107 11 270 SH SOLE 1 0 0 270
DEERE & CO 244199105 129 1895 SH SOLE 1 1895 0 0
DELL INC 24702R101 687 22940 SH SOLE 1 15490 0 7450
DELTIC TIMBER INC 247850100 363 7000 SH SOLE 1 6752 0 248
DELTIC TIMBER INC 247850100 33451 645043 SH DEFINED 1 0 645043 0
DELUXE CORP 248019101 8 285 SH SOLE 1 0 0 285
DIAGEO P L C SPON ADR 25243Q205 53 917 SH SOLE 1 92 0 825
NEW
DIAMONDS TRUST FUND 252787106 10 100 SH SOLE 1 100 0 0
DIODES INC COM 254543101 23 770 SH SOLE 1 0 0 770
DIRECTTV GROUP INC 25459L106 86 6099 SH SOLE 1 350 0 5749
WALT DISNEY CO 254687106 384 16052 SH SOLE 1 9590 0 6462
DOLLAR THRIFTY AUTO 256743105 49 1366 SH SOLE 1 208 0 1158
GROUP INC
DOW CHEMICAL CO 260543103 50 1155 SH SOLE 1 900 0 255
DOW CHEMICAL CO 260543103 21 483 SH DEFINED 1 483 0 0
DREYFUS STRATEGIC 261932107 0 9 SOLE 1 9 0 0
MUNICIPALS INC
DU PONT EI D NEMOURS 263534109 169 3995 SH SOLE 1 2665 0 1330
& CO
DUKE ENERGY CORP COM 264399106 60 2200 SH SOLE 1 2200 0 0
DUKE REALTY CORP 264411505 13 405 SH SOLE 1 0 0 405
DYCOM INDUSTRIES INC 267475101 23 1085 SH SOLE 1 125 0 960
EMC CORP 268648102 110 8100 SH SOLE 1 3800 0 4300
EMC CORP 268648102 50 3700 SH DEFINED 1 3700 0 0
ENI S P A SPONSORED 26874R108 42 304 SH SOLE 1 0 0 304
ADR
EASTGROUP PROPERTIES 277276101 2 60 SH SOLE 1 60 0 0
INC
EATON CORP COM 278058102 490 7314 SH SOLE 1 173 0 7141
EBAY INC 278642103 377 8741 SH SOLE 1 1431 0 7310
ECOLAB INC COMMON 278865100 42 1170 SH SOLE 1 1170 0 0
EDO CORP COM 281347104 40 1499 SH SOLE 1 225 0 1274
** VOTING AUTHORITY **
-------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ------ --- ---- ---------- -------- ------ ------ -----
EDWARDS LIFESCIENCES 28176E108 9 240 SH SOLE 1 240 0 0
CORP
EL PASO CORPORATION 28336L109 2 166 SH SOLE 1 166 0 0
ELECTRONIC ARTS INC 285512109 669 12804 SH SOLE 1 822 0 11982
EMERSON ELECTRIC CO 291011104 104 1400 SH SOLE 1 1400 0 0
ENCANA CORP-CAD 292505104 34 764 SH SOLE 1 0 0 764
ENCORE WIRE CORP COM 292562105 726 31948 SH SOLE 1 1348 0 30600
ENTERGY PARTNERS LTD 29270U105 27 1256 SH SOLE 1 187 0 1069
ENTERGY CORP 29364G103 318 4638 SH SOLE 1 1638 0 3000
ENTERGY CORP 29364G103 40 593 SH DEFINED 1 593 0 0
EQUITY INNS, INC 294703103 10 775 SH SOLE 1 0 0 775
EQUITY INNS, INC 294703103 20 1500 SH DEFINED 1 1500 0 0
EQUITY OFFICE PPTYS 294741103 30 1000 SH SOLE 1 1000 0 0
TRUST
ERICSSON (LM) TELE CO ADR (NEW) 294821608 3 90 SH SOLE 1 90 0 0
ESCO TECHNOLOGIES INC 296315104 11 250 SH SOLE 1 0 0 250
ESSEX CORP 296744105 12 715 SH SOLE 1 0 0 715
ESTERLINE 297425100 41 1110 SH SOLE 1 165 0 945
TECHNOLOGIES CORP
EXCEL TECHNOLOGY INC COM 30067T103 11 475 SH SOLE 1 0 0 475
EXELON CORP 30161N101 31 600 SH DEFINED 1 600 0 0
EXPEDITORS INTL WASH COM 302130109 197 2924 SH SOLE 1 669 0 2255
INC
EXXON MOBIL CORP 30231G102 6540 116434 SH SOLE 1 110722 0 5712
EXXON MOBIL CORP 30231G102 1450 25826 SH DEFINED 1 16426 8600 800
FPL GROUP INC 302571104 36 882 SH SOLE 1 600 0 282
FAIR ISAAC & CO INC 303250104 19 435 SH SOLE 1 435 0 0
FEDERATED DEPT STORES 31410H101 79 1200 SH SOLE 1 0 0 1200
INC
FEDEX CORPORATION 31428X106 10 100 SH SOLE 1 100 0 0
F5 NETWORKS INC COM 315616102 47 839 SH SOLE 1 48 0 791
FINANCIAL FED CORP COM 317492106 41 925 SH SOLE 1 145 0 780
FIRST CASH FINANCIAL 31942D107 19 680 SH SOLE 1 0 0 680
SVC INC
FIRST DATA CORP COM 319963104 610 14202 SH SOLE 1 528 0 13674
FIRST HORIZON NATIONAL 320517105 13 364 SH SOLE 1 277 0 87
FIRSTMERIT CORP 337915102 204 7884 SH SOLE 1 7884 0 0
FIRST ENERGY CORP COMMON 337932107 195 4000 SH SOLE 1 4000 0 0
FORD MOTOR COMPANY COMMON 345370860 8 1160 SH SOLE 1 660 0 500
FOREST LABS 345838106 18 445 SH SOLE 1 445 0 0
FREESCALE 35687M206 1 73 SH SOLE 1 73 0 0
SEMICONDUCTOR
FREESCALE 35687M206 0 33 SH DEFINED 1 33 0 0
SEMICONDUCTOR
FUJI PHOTO NEW ADR 359586302 53 1600 SH SOLE 1 0 0 1600
GALLAHER GROUP PLC COM ADR 363595109 12 200 SH SOLE 1 200 0 0
GAP INC DEL COM 364760108 4 238 SH SOLE 1 0 0 238
GARDNER DENVER 365558105 19 405 SH SOLE 1 0 0 405
GENENTECH INC 368710406 157 1700 SH SOLE 1 0 0 1700
GENERAL ELECTRIC CO 369604103 2131 60837 SH SOLE 1 56637 0 4200
GENERAL ELECTRIC CO 369604103 28 800 SH DEFINED 1 800 0 0
GENERAL MLS INC COM 370334104 9 200 SH SOLE 1 200 0 0
GEN MTR CORP 370442105 5 263 SH SOLE 1 263 0 0
GENESEE & WYOMING 371559105 77 2065 SH SOLE 1 308 0 1757
CLASS A
GENLYTE GROUP INC 372302109 19 365 SH SOLE 1 0 0 365
GIBRALTAR INDUSTRIES 374689107 46 2012 SH SOLE 1 302 0 1710
INC
GILEAD SCIENCES INC 375558103 105 2000 SH SOLE 1 0 0 2000
GLAXOSMITHKLINE PLC ADR 37733W105 189 3748 SH SOLE 1 402 0 3346
GMX RESOURCES INC 38011M108 38 1065 SH SOLE 1 105 0 960
GOLDMAN SACHS GROUP 38141G104 114 895 SH SOLE 1 295 0 600
GOOGLE INC 38259P508 248 600 SH SOLE 1 0 0 600
GRANITE CONSTR INC COM 387328107 22 630 SH SOLE 1 0 0 630
GUIDANT CORP COM 401698105 77 1200 SH SOLE 1 1200 0 0
HCA INC. 404119109 86 1703 SH SOLE 1 263 0 1440
HCC INSURANCE 404132102 29 986 SH SOLE 1 327 0 659
HOLDINGS, INC
HSBC HLDGS PLC SPONSORED 404280406 36 453 SH SOLE 1 0 0 453
ADR
HAEMONETICS CORP 405024100 21 450 SH SOLE 1 0 0 450
HALLIBURTON CO COM 406216101 340 5502 SH SOLE 1 2583 0 2919
HANCOCK FABRICS 409900107 6 1600 SH SOLE 1 1600 0 0
JOHN HANCOCK PFD INC 41013X106 8 400 SH SOLE 1 400 0 0
II
JOHN HANCOCK 41021P103 2 130 SH SOLE 1 130 0 0
PREFERRED INCOME FUND
III
HARLEY DAVIDSON INC COM 412822108 139 2716 SH SOLE 1 646 0 2070
HARRIS CORP 413875105 120 2800 SH SOLE 1 2800 0 0
HARTFORD FNCL SV GRP 416515104 16 187 SH SOLE 1 0 0 187
INC COM
HAWAIIAN ELEC INDS INC 419870100 29 1130 SH DEFINED 1 1130 0 0
HEALTH CARE SERVICES 421906108 44 2140 SH SOLE 1 320 0 1820
GROUP INC
HEALTHCARE REALTY TR 421946104 48 1450 SH SOLE 1 215 0 1235
** VOTING AUTHORITY **
------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ----- --- ---- ---------- -------- ----- ------ -----
HEADWATERS INC 42210P102 12 345 SH SOLE 1 0 0 345
HEALTH CARE REIT INC 42217K106 1 32 SH SOLE 1 0 0 32
HEINZ H J CO COM 423074103 12 367 SH SOLE 1 273 0 94
HEWLETT PACKARD CO 428236103 65 2293 SH SOLE 1 1977 0 316
HIGH INCOME 42967Q105 15 2500 SH SOLE 1 2500 0 0
OPPORTUNITY FD
HIGHLAND HOSPITALITY 430141101 34 3138 SH SOLE 1 478 0 2660
CORP
HILB ROGAL & HOBBS 431294107 20 528 SH SOLE 1 177 0 351
COMPANY
HOLLYWOOD MEDIA CORP 436233100 5 1395 SH SOLE 1 0 0 1395
HOLOGIC INC COM 436440101 19 505 SH SOLE 1 0 0 505
HOME DEPOT 437076102 971 24006 SH SOLE 1 15718 0 8288
HOME DEPOT 437076102 61 1532 SH DEFINED 1 1532 0 0
HOSPITALITY PROPERTIES 44106M102 1 26 SH SOLE 1 0 0 26
HOSPIRA, INC 441060100 19 450 SH DEFINED 1 50 400 0
HUBBELL INC CL B 443510201 45 1000 SH SOLE 1 0 0 1000
HUMANA INC 444859102 72 1341 SH SOLE 1 175 0 1166
JB HUNT TRANSPORT SVC 445658107 14 635 SH SOLE 1 0 0 635
INC
ING PRIME RATE TR SH BEN INT 44977W106 46 6907 SH SOLE 1 6907 0 0
ILLINOIS TOOL WORKS 452308109 92 1055 SH SOLE 1 205 0 850
INC
ING GROEP N V 456837103 131 3771 SH SOLE 1 360 0 3411
INTEL CORP CAP 458140100 1086 43557 SH SOLE 1 25287 0 18270
INTEL CORP CAP 458140100 69 2800 SH DEFINED 1 2800 0 0
IBM CORP 459200101 748 9103 SH SOLE 1 5740 0 3363
IBM CORP 459200101 36 450 SH DEFINED 1 450 0 0
INTERNATIONAL 459412102 3 660 SH SOLE 1 0 0 660
DISPLAYWORKS
INTL PAPER CO 460146103 10 300 SH SOLE 1 300 0 0
INTL PAPER CO 460146103 30 900 SH DEFINED 1 0 900 0
INVACARE CORP COM 461203101 39 1265 SH SOLE 1 195 0 1070
ISHARES MSCI EAFE 464287465 14 243 SH SOLE 1 243 0 0
INDEX FUND
ISHARES GOLDMAN SACHS 464287523 15 255 SH SOLE 1 255 0 0
SEMICONDUCTOR IDX FD
IXYS CORP 46600W106 15 1360 SH SOLE 1 0 0 1360
JLG INDUSTRIES INC 466210101 15 350 SH SOLE 1 0 0 350
JPMORGAN CHASE & CO 46625H100 693 17482 SH SOLE 1 10746 0 6736
COM
JPMORGAN CHASE & CO 46625H100 137 3456 SH DEFINED 1 1500 1956 0
COM
JACUZZI BRANDS INC 469865109 56 6725 SH SOLE 1 980 0 5745
JEFFERSON PILOT 475070108 13 230 SH SOLE 1 0 0 230
CORPORATION
JOHNSON & JOHNSON 478160104 2335 38866 SH SOLE 1 33740 0 5126
JOHNSON & JOHNSON 478160104 488 8125 SH DEFINED 1 5800 1200 1125
JOHNSON CONTROLS INC 478366107 53 731 SH SOLE 1 600 0 131
JONES APPAREL GROUP 480074103 262 8545 SH SOLE 1 304 0 8241
INC
JONES LANG LASALLE INC COM 48020Q107 17 355 SH SOLE 1 0 0 355
KT CORP SPONSORED 48268K101 29 1392 SH SOLE 1 0 0 1392
ADR
K2 INC 482732104 30 3024 SH SOLE 1 455 0 2569
KEYCORP NEW 493267108 66 2014 SH SOLE 1 1100 0 914
KEYSPAN CORP COM 49337W100 10 285 SH SOLE 1 0 0 285
KIMBERLY-CLARK CORP 494368103 11 195 SH SOLE 1 0 0 195
KIMBERLY-CLARK CORP 494368103 14 250 SH DEFINED 1 250 0 0
KINDER MORGAN ENERGY 494550106 39 832 SH SOLE 1 832 0 0
PARTNERS, L.P
KONINKLIJKE PHLPS ADR NEW 500472303 21 697 SH SOLE 1 0 0 697
ELECTRS N V SP
KOREA ELECTRIC POWER ADR 500631106 21 1091 SH SOLE 1 0 0 1091
LTX CORP 502392103 8 1815 SH SOLE 1 0 0 1815
LANDSTAR SYSTEM INC 515098101 38 915 SH SOLE 1 137 0 778
ESTEE LAUDER CO 518439104 53 1600 SH SOLE 1 0 0 1600
ESTEE LAUDER CO 518439104 20 600 SH DEFINED 1 600 0 0
LEVEL 3 52729N100 13 4685 SH SOLE 1 4685 0 0
COMMUNICATIONS INC
THE LIBERTY 530370105 65 1400 SH SOLE 1 1400 0 0
CORPORATION
ELI LILLY & CO 532457108 390 6900 SH SOLE 1 6400 0 500
ELI LILLY & CO 532457108 73 1300 SH DEFINED 1 1300 0 0
LIMITED BRANDS, INC 532716107 130 5821 SH SOLE 1 666 0 5155
LINCOLN NATIONAL CORP 534187109 14 265 SH SOLE 1 0 0 265
IND
LLOYDS TSB GROUP PLC ADR 539439109 101 2994 SH SOLE 1 390 0 2604
LOCKHEED MARTIN CORP 539830109 318 5000 SH SOLE 1 3320 0 1680
LOWES CO INC 548661107 533 8005 SH SOLE 1 4685 0 3320
LUCENT TECHNOLOGIES 549463107 9 3388 SH SOLE 1 2338 0 1050
LUCENT TECHNOLOGIES 549463107 2 1000 SH DEFINED 1 1000 0 0
LYONDELL CHEMICAL CO 552078107 12 520 SH SOLE 1 0 0 520
M & T BANK CORP 55261F104 218 2000 SH SOLE 1 2000 0 0
MBIA INC 55262C100 381 6338 SH SOLE 1 229 0 6109
** VOTING AUTHORITY **
-------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ------- --- ---- ---------- -------- ------ ------- -----
MBNA CORP 55262L100 16 590 SH SOLE 1 0 0 590
MB FINANCIAL INC NEW 55264U108 39 1120 SH SOLE 1 175 0 945
MFA MTG INVTS INC COM 55272X102 20 3609 SH SOLE 1 544 0 3065
MANULIFE FINANCIAL 56501R106 2021 34386 SH SOLE 1 34386 0 0
CORP
MAPINFO CORP 565105103 5 475 SH SOLE 1 0 0 475
MARATHON OIL CORP 565849106 22 375 SH SOLE 1 0 0 375
MARRIOTT INTL INC NEW CL A 571903202 60 900 SH SOLE 1 0 0 900
MARTEN TRANSPORT LTD 573075108 17 967 SH SOLE 1 0 0 967
MASCO CORPORATION 574599106 12 430 SH SOLE 1 0 0 430
MATRIXX INITIATIVES 57685L105 8 405 SH SOLE 1 0 0 405
INC
MATTELL INC 577081102 51 3278 SH SOLE 1 313 0 2965
MAXIM INTEGRATED 57772K101 256 7086 SH SOLE 1 686 0 6400
PRODUCTS INC
MCCORMICK & SCHMICKS 579793100 5 265 SH SOLE 1 0 0 265
SEAFOOD
MCDERMOTT INTL INC COM 580037109 45 1010 SH SOLE 1 0 0 1010
MCDONALD'S CORP 580135101 546 16201 SH SOLE 1 10922 0 5279
MCGRATH RENTCORP 580589109 47 1720 SH SOLE 1 255 0 1465
MCKESSON CORP 58155Q103 312 6059 SH SOLE 1 3575 0 2484
MEADWESTVACO CORP 583334107 43 1547 SH SOLE 1 1547 0 0
MEDCO HEALTH 58405U102 20 361 SH SOLE 1 361 0 0
SOLUTIONS INC
MEDICAL ACTION 58449L100 1 50 SH SOLE 1 50 0 0
INDUSTRIES INC
MEDTRONIC INC COM 585055106 51 900 SH SOLE 1 900 0 0
MELLON FINL CORP 58551A108 40 1188 SH SOLE 1 800 0 388
MERCK & CO INC 589331107 159 5027 SH SOLE 1 4062 0 965
MERIT MED SYS INC 589889104 7 645 SH SOLE 1 0 0 645
MERRILL LYNCH & CO, 590188108 408 6030 SH SOLE 1 2705 0 3325
INC
METLIFE INC COM 59156R108 27 557 SH SOLE 1 557 0 0
MICROS SYSTEMS INC 594901100 12 260 SH SOLE 1 0 0 260
MICROSOFT CORP 594918104 1168 44683 SH SOLE 1 19117 0 25566
MICROSEMI CORP 595137100 39 1420 SH SOLE 1 0 0 1420
MID-AMERICA APARTMENT 59522J103 44 920 SH DEFINED 1 920 0 0
CMNTYS
MIDAS GROUP INC 595626102 12 666 SH SOLE 1 666 0 0
MILLEA HLDGS INC ADR 60032R106 24 284 SH SOLE 1 0 0 284
MILLER HERMAN INC COM 600544100 16 600 SH SOLE 1 600 0 0
MINDSPEED TECNOLOGIES 602682106 0 58 SH SOLE 1 58 0 0
MOBILE MINI INC COM 60740F105 21 460 SH SOLE 1 0 0 460
MONEYGRAM 60935Y109 9 348 SH SOLE 1 348 0 0
INTERNATIONAL INC
MONRO MUFFLER BRAKE COM 610236101 38 1255 SH SOLE 1 195 0 1060
INC
MONSANTO CO. (NEW) 61166W101 14 187 SH SOLE 1 187 0 0
MOODYS CORP 615369105 287 4683 SH SOLE 1 1518 0 3165
MOOG INC CL A 615394202 33 1179 SH SOLE 1 178 0 1001
MORGAN STANLEY DEAN 617446448 726 12811 SH SOLE 1 8029 0 4782
WITTER DISCOVER & CO
MORGAN STANLEY DEAN 617446448 14 260 SH DEFINED 1 260 0 0
WITTER DISCOVER & CO
MOTOROLA INC 620076109 49 2172 SH SOLE 1 1768 0 404
MOTOROLA INC 620076109 6 300 SH DEFINED 1 300 0 0
MUNICIPAL MORTGAGE & SH 62624B101 103 4000 SH SOLE 1 4000 0 0
EQUITY LLC - GROWTH
MUNIVEST FD INC COM 626295109 48 5000 SOLE 1 5000 0 0
MUNIYIELD INSURED 62630E107 112 7500 DEFINED 1 7500 0 0
MURPHY OIL CORP COM 626717102 7916 146625 SH SOLE 1 139826 0 6799
MURPHY OIL CORP COM 626717102 501816 9294612 SH DEFINED 1 0 9294612 0
MYLAN LABORATORIES INC 628530107 38 1908 SH SOLE 1 1908 0 0
NBC CAP CORP 628729105 103 4333 SH SOLE 1 4333 0 0
NCI BUILDING SYS INC COM 628852105 20 490 SH SOLE 1 0 0 490
NMS COMMUNICATIONS 629248105 3 960 SH SOLE 1 0 0 960
CORP
NASDAQ 100 TRUST 631100104 24 600 SH SOLE 1 600 0 0
NATIONAL AUSTRALIA BK ADR 632525408 40 338 SH SOLE 1 0 0 338
LTD
NATIONAL CITY CORP COM 635405103 2 79 SH SOLE 1 0 0 79
NAVARRE CORP 639208107 6 1150 SH SOLE 1 0 0 1150
NAVTEQ CORP COM 63936L100 70 1600 SH SOLE 1 0 0 1600
NETGEAR INC COM 64111Q104 11 582 SH SOLE 1 88 0 494
NEUSTAR INC CL A 64126X201 29 980 SH SOLE 1 0 0 980
NEWPARK RESOURCES, INC 651718504 0 8 SH SOLE 1 8 0 0
NEWS CORP 65248E104 422 27177 SH SOLE 1 1209 0 25968
NEWS CORP CL B NEW 65248E203 5 337 SH SOLE 1 0 0 337
IKE INC CLASS B 654106103 156 1800 SH SOLE 1 700 0 1100
NIPPON TEL & TEL SPON ADR 654624105 37 1624 SH SOLE 1 160 0 1464
NISOURCE INC 65473P105 300 14406 SH SOLE 1 8145 0 6261
NOKIA CORP SPND ADR 654902204 136 7480 SH SOLE 1 400 0 7080
NOMURA HOLDINGS INC ADR 65535H208 59 3093 SH SOLE 1 309 0 2784
NORDSON CORP COM 655663102 52 1285 SH SOLE 1 195 0 1090
NORFOLK SO CORP 655844108 64 1434 SH SOLE 1 1434 0 0
NORTEL NETWORK CORP NEW 656568102 15 5000 SH SOLE 1 5000 0 0
NORTHERN TRUST 665859104 102 1980 SH SOLE 1 1980 0 0
** VOTING AUTHORITY **
-------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ------- --- ---- ---------- -------- ------ ------- -----
COMPANY NTRS
NORTHERN TRUST 665859104 186 3600 SH DEFINED 1 3600 0 0
COMPANY NTRS
NORTHRUP GRUMMAN 666807102 13 225 SH SOLE 1 0 0 225
NOVARTIS AG SPONSORED ADR 66987V109 193 3685 SH SOLE 1 158 0 3527
NUVEEN INSD PREMIUM 6706D8104 4 338 SOLE 1 338 0 0
INCOME MUNI FD
NUVEEN PREMIUM INCOME 6706K4105 24 2000 DEFINED 1 2000 0 0
MUN FUND 4
NUVEEN PREMIER 670987106 14 1000 DEFINED 1 1000 0 0
INSURED MUN INCOME
FUND INC
NUVEEN PREMIER 670988104 20 1565 SOLE 1 1565 0 0
MUNICIPAL INC
OCCIDENTAL PETE COR 674599105 117 1475 SH SOLE 1 500 0 975
DEL
OCTEL CORP COM 675727101 9 600 SH SOLE 1 0 600 0
OIL STATES 678026105 21 685 SH SOLE 1 105 0 580
INTERNATIONAL INC
OLIN CORP 680665205 7 400 SH SOLE 1 400 0 0
OLIN CORP 680665205 3 166 SH DEFINED 1 166 0 0
OMNIVISION 682128103 16 820 SH SOLE 1 0 0 820
TECHNOLOGIES
OPENWAVE SYS INC COM NEW 683718308 20 1180 SH SOLE 1 0 0 1180
ORACLE SYSTEMS CORP 68389X105 168 13775 SH SOLE 1 8585 0 5190
ORANGE 685317109 4 1130 SH SOLE 1 0 0 1130
PNC BANK CORP 693475105 4 67 SH SOLE 1 0 0 67
PPG INDUSTRIES INC 693506107 5 99 SH SOLE 1 0 0 99
PACKAGING CORP AMER 695156109 3 141 SH SOLE 1 0 0 141
PACTIV COPR 695257105 19 897 SH SOLE 1 897 0 0
PAR TECHNOLOGY CORP COM 698884103 10 395 SH SOLE 1 0 0 395
PATTERSON COMPANIES 703395103 284 8529 SH SOLE 1 619 0 7910
INC
PCCW LTD SONSORED ADR 70454G207 2 494 SH DEFINED 1 494 0 0
PEDIATRIX MEDICAL 705324101 70 793 SH SOLE 1 120 0 673
GROUP INC
PEOPLES ENERGY CORP COM 711030106 1 57 SH SOLE 1 0 0 57
PEPSIAMERICAS INC 71343P200 93 4000 SH SOLE 1 4000 0 0
PEPSICO INC COM 713448108 1384 23434 SH SOLE 1 22134 0 1300
PEPSICO INC COM 713448108 90 1530 SH DEFINED 1 430 1100 0
PERFICIENT INC COM 71375U101 6 695 SH SOLE 1 0 0 695
PETROCHINA CO LTD 71646E100 15 195 SH SOLE 1 0 0 195
PETROHAWK ENERGY CORP 716495106 32 2460 SH SOLE 1 386 0 2074
PETROBRAS 71654V408 12 180 SH SOLE 1 0 0 180
PFIZER INC 717081103 1313 56329 SH SOLE 1 30409 0 25920
PFIZER INC 717081103 67 2900 SH DEFINED 1 2200 700 0
PIKE ELEC CORP COM 721283109 36 2237 SH SOLE 1 335 0 1902
PILGRIMS PRIDE CORP 721467108 22 680 SH SOLE 1 680 0 0
COM
PIMCO MUNI INCOME 72201A103 21 1333 SOLE 1 1333 0 0
FUND III
PINNACLE WEST CAP CORP 723484101 294 7115 SH SOLE 1 4335 0 2780
PIONEER DRILLING CO COM 723655106 26 1460 SH SOLE 1 0 0 1460
PLUM CREEK TIMBER CO 729251108 251 6987 SH SOLE 1 6987 0 0
INC
POWER-ONE INC 739308104 13 2215 SH SOLE 1 0 0 2215
POWER TECHNOLOGIES 739363109 22 1790 SH SOLE 1 0 0 1790
PRESSTEK INC COM 741113104 13 1490 SH SOLE 1 0 0 1490
PRINCIPAL FINANCIAL 74251V102 27 572 SH SOLE 1 572 0 0
GROUP
PROCTER & GAMBLE CO COM 742718109 1882 32529 SH SOLE 1 26644 0 5885
PROCTER & GAMBLE CO COM 742718109 444 7676 SH DEFINED 1 7676 0 0
PROGRESS SOFTWARE CORP COM 743312100 19 670 SH SOLE 1 0 0 670
PROVIDENCE SYC CORP 743815102 18 645 SH SOLE 1 0 0 645
PSYCHIATRIC SOLUTIONS 74439H108 30 520 SH SOLE 1 0 0 520
PUBLIC SVC ENTERPRISE 744573106 12 185 SH SOLE 1 0 0 185
GROUP INC
PUTNAM MANAGED 746823103 1 250 SOLE 1 250 0 0
MUNICIPAL INCOME TRUST
QLOGIC CORP COM 747277101 16 500 SH SOLE 1 500 0 0
QUALCOMM INC 747525103 81 1900 SH SOLE 1 0 0 1900
QWEST COMMUNICATIONS 749121109 4 714 SH SOLE 1 714 0 0
INTL INC COM
CEF RMK HIGH INCOME 74963B105 17 1008 SH SOLE 1 1008 0 0
FUND
RAYMOND JAMES 754730109 76 2039 SH SOLE 1 302 0 1737
FINANCIAL CORP
REDWOOD TR INC COM 758075402 20 485 SH SOLE 1 75 0 410
REED ELSEVIER PLC SPON ADR 758205108 49 1329 SH SOLE 1 0 0 1329
REGIS CORPORATION-MN 758932107 52 1365 SH SOLE 1 207 0 1158
REGIONS FINANCIAL CORP NEW 7591EP100 1528 44747 SH SOLE 1 43892 0 855
** VOTING AUTHORITY **
-------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ----------- --------- ------ ------- --- ---- ---------- -------- ------ ------- -----
REGIONS FINANCIAL CORP NEW 7591EP100 75 2205 SH DEFINED 1 0 2205 0
RELIANT ENERGY INC 75952B105 4 394 SH SOLE 1 0 0 394
RELIANT ENERGY INC 75952B105 17 1712 SH DEFINED 1 1712 0 0
RENASANT CORP COM 75970E107 23 750 SH SOLE 1 750 0 0
REPSOL YPF ADR 76026T205 31 1074 SH SOLE 1 0 0 1074
REPUBLIC BANCORP INC 760282103 45 3847 SH SOLE 1 582 0 3265
REYNOLDS & REYNOLDS CO CL A 761695105 39 1413 SH SOLE 1 214 0 1199
REYNOLDS AMERICAN INC 761713106 15 165 SH SOLE 1 0 0 165
ROCKWELL AUTOMATION, 773903109 10 177 SH SOLE 1 177 0 0
INC
ROCKWELL COLLINS INC 774341101 8 177 SH SOLE 1 177 0 0
ROHM & HAAS CO COM 775371107 17 361 SH SOLE 1 361 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 58 906 SH SOLE 1 30 0 876
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 100 1551 SH DEFINED 1 1551 0 0
ROYAL DUTCH SHELL PLC 780259206 196 3200 SH DEFINED 1 3200 0 0
RUBIO'S RESTAURANTS 78116B102 6 695 SH SOLE 1 0 0 695
INC
RUBY TUESDAY INC 781182100 16 630 SH DEFINED 1 0 0 630
RUSH ENTERPRISES INC 781846209 15 1045 SH SOLE 1 0 0 1045
SVB FINL GROUP COM 78486Q101 24 515 SH SOLE 1 0 0 515
ST JUDE MEDICAL 790849103 95 1900 SH SOLE 1 0 0 1900
ST PAUL TRAVELERS 792860108 100 2247 SH SOLE 1 252 0 1995
CO.'S INC
SANOFI-AVENTIS ADR 80105N105 79 1800 SH SOLE 1 0 0 1800
SAP 803054204 90 2000 SH SOLE 1 0 0 2000
AKTIENGESELLSCHAFT
SPNSDADRS
SCANA CORP NEW 80589M102 8 222 SH SOLE 1 222 0 0
SCHERING PLOUGH CORP COM 806605101 300 14434 SH SOLE 1 14434 0 0
SCHLUMBERGER LTD COM 806857108 275 2840 SH SOLE 1 1140 0 1700
THE CHARLES SCHWAB 808513105 121 8300 SH SOLE 1 0 0 8300
CORP
SCRIPPS EW INC NEW CL A 811054204 28 600 SH SOLE 1 600 0 0
SELECT SECTOR SPDR 81369Y209 27 880 SH SOLE 1 880 0 0
HEALTH CARE
SELECT COMFORT CORP 81616X103 15 565 SH SOLE 1 0 0 565
SEMPRA ENERGY COM 816851109 13 310 SH SOLE 1 0 0 310
SERACARE LIFE 81747Q100 2 315 SH SOLE 1 0 0 315
SCIENCES INC
SEROLOGICALS CORP 817523103 30 1555 SH SOLE 1 235 0 1320
SERVICEMASTER COMPANY COM 81760N109 71 6023 SH SOLE 1 6023 0 0
SIGMA ALDRICH CORP 826552101 8 135 SH SOLE 1 135 0 0
SIGNATURE BK NEW YORK COM 82669G104 13 480 SH SOLE 1 0 0 480
N Y
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 365 13200 SH SOLE 1 13200 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 13 500 SH DEFINED 1 500 0 0
SIMON PROPERTY GROUP 828806109 153 2000 SH SOLE 1 2000 0 0
INC
SKYWORKS SOLUTIONS 83088M102 0 166 SH SOLE 1 166 0 0
SMUCKER J M CO 832696405 0 3 SH SOLE 1 3 0 0
SONY CORP 835699307 47 1173 SH SOLE 1 0 0 1173
SONY CORP 835699307 40 1000 SH DEFINED 1 1000 0 0
SOTHEBYS HLDGS INC CL A 835898107 19 1075 SH SOLE 1 0 0 1075
SONUS NETWORKS INC 835916107 8 2360 SH SOLE 1 353 0 2007
SOUTHERN CO COM 842587107 281 8144 SH SOLE 1 8087 0 57
SOUTHERN CO COM 842587107 152 4426 SH DEFINED 1 4426 0 0
SOUTHWEST AIRLS CO COM 844741108 40 2450 SH SOLE 1 2450 0 0
SOUTHWESTERN ENERGY CO 845467109 73 2049 SH SOLE 1 1009 0 1040
SPRINT NEXTEL CORP COM 852061100 1479 63325 SH SOLE 1 59725 0 3600
STANLEY WORKS 854616109 13 290 SH SOLE 1 0 0 290
STARBUCKS CORP 855244109 184 6144 SH SOLE 1 1151 0 4993
STATOIL ASA SPON ADR 85771P102 31 1368 SH SOLE 1 0 0 1368
STORA ENSO OYJ ADR 86210M106 34 2580 SH SOLE 1 0 0 2580
STRATASYS INC 862685104 11 465 SH SOLE 1 0 0 465
STRAYED ED INC COM 863236105 39 419 SH SOLE 1 64 0 355
STRYKER CORP 863667101 11 260 SH SOLE 1 260 0 0
SUNCOR ENERGY 867229106 63 1000 SH SOLE 1 0 0 1000
SUNOCO INC 86764P109 23 300 SH SOLE 1 300 0 0
SUNRISE SENIOR LIVING 86768K106 19 590 SH SOLE 1 0 0 590
INC COM
SUNTRUST BANKS INC COM 867914103 74 1030 SH SOLE 1 1030 0 0
SYMYX TECHNOLOGIES COM 87155S108 15 585 SH SOLE 1 0 0 585
SYNAPTICS INC 87157D109 31 1258 SH SOLE 1 190 0 1068
SYSCO CORP 871829107 30 983 SH SOLE 1 983 0 0
TEPPCO PARTNERS LP 872384102 31 1100 SH SOLE 1 1100 0 0
TNT N V SPONSORED ADR 87260W101 57 1850 SH SOLE 1 0 0 1850
TNS INC COM 872960109 9 505 SH SOLE 1 0 0 505
TXU CORP 873168108 170 3400 SH SOLE 1 400 0 3000
TAIWAN SEMICONDUCTOR ADR'S 874039100 25 2579 SH SOLE 1 0 0 2579
MFG
** VOTING AUTHORITY **
-------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ------- --- ---- ---------- -------- ------ ------- -----
CO LTD
TARGET CORP 87612E106 225 4107 SH SOLE 1 1148 0 2959
TARGET CORP 87612E106 21 400 SH DEFINED 1 400 0 0
TEAM INC 878155100 40 1940 SH SOLE 1 295 0 1645
TELECOM CORP OF NEW 879278208 3 111 SH SOLE 1 0 0 111
ZEALAND
TELEFONOS DE MEXICO ADR 879403780 44 1796 SH SOLE 1 0 0 1796
SA DE CV SPONS
TELLABS INC DELAWARE 879664100 2 200 SH DEFINED 1 200 0 0
TEMPLE INLAND INC COM 879868107 80 1800 SH SOLE 1 1800 0 0
TERRA INDUSTRIES INC 880915103 0 15 SH SOLE 1 15 0 0
TEVA PHARMACEUTICAL ADR'S 881624209 195 4540 SH SOLE 1 1025 0 3515
IND
TESSERA TECHNOLOGIES 88164L100 5 230 SH SOLE 1 0 0 230
INC
TEXAS INSTRUMENTS 882508104 134 4210 SH SOLE 1 1410 0 2800
THORNBURG MORTGAGE INC 885218107 13 500 SH SOLE 1 500 0 0
3M CO 88579Y101 575 7431 SH SOLE 1 4746 0 2685
TIDEWATER INC 886423102 13 300 SH SOLE 1 0 0 300
TIFFANY & CO NEW 886547108 84 2200 SH SOLE 1 2200 0 0
TIME WARNER INC 887317105 308 17725 SH SOLE 1 17725 0 0
TOTAL FINA ELF S.A. ADR 89151E109 42 340 SH SOLE 1 34 0 306
TOYOTA MOTOR CORP ADR NEW 892331307 42 402 SH SOLE 1 40 0 362
TRADESTATION GROUP INC 89267P105 11 950 SH SOLE 1 0 0 950
TRANSACTION SYS 893416107 26 935 SH SOLE 1 0 0 935
ARCHITECTS COM
TRIAD HOSPS INC 89579K109 12 323 SH SOLE 1 100 0 223
TRIARC COMPANIES "B" 895927309 46 3120 SH SOLE 1 470 0 2650
SR1
TRIBUNE COMPANY 896047107 36 1200 SH SOLE 1 1200 0 0
TRUSTMARK CORP COM 898402102 429 15659 SH SOLE 1 15659 0 0
TYCO INTL LTD NEW COM 902124106 9 330 SH SOLE 1 0 0 330
TYLER TECHNOLOGIES INC COM 902252105 23 2675 SH SOLE 1 400 0 2275
TYSON FOODS INC CL A 902494103 355 20831 SH SOLE 1 721 0 20110
UCBH HOLDINGS INC 90262T308 44 2471 SH SOLE 1 374 0 2097
USA TRUCK INC 902925106 1208 41498 SH SOLE 1 41498 0 0
-RESTRICTED
US BANCORP DEL NEW 902973304 114 3837 SH SOLE 1 462 0 3375
US CONCRETE INC 90333L102 26 2815 SH SOLE 1 420 0 2395
U S HOME SYS INC 90335C100 3 605 SH SOLE 1 0 0 605
UNION PACIFIC CORP 907818108 16 200 SH SOLE 1 200 0 0
UNION PACIFIC CORP 907818108 305 3800 SH DEFINED 1 0 3800 0
UNITED AUTO GROUP 909440109 29 762 SH SOLE 1 116 0 646
UNITED UTILITIES PLC 91311Q105 2 111 SH SOLE 1 0 0 111
SP
UNITED HEALTHCARE CORP 91324P102 105 1700 SH SOLE 1 0 0 1700
UNITED COMPRESSION 913431102 77 1896 SH SOLE 1 282 0 1614
HOLDINGS
UNIVERSAL TRUCKLOAD 91388P105 21 915 SH SOLE 1 0 0 915
SVCS INC
UPM KYMMENE CORP SPN ADR 915436109 19 1016 SH SOLE 1 0 0 1016
VF CORPORATION 918204108 11 215 SH SOLE 1 0 0 215
VALUECLICK INC COM 92046N102 18 1010 SH SOLE 1 0 0 1010
VARIAN MEDICAL SYSTEMS 92220P105 169 3375 SH SOLE 1 795 0 2580
VARIAN SEMICONDUCTOR 922207105 30 700 SH SOLE 1 0 0 700
EQUIP
VERIZON COMMUNICATIONS 92343V104 477 15865 SH SOLE 1 9255 0 6610
VERIZON COMMUNICATIONS 92343V104 75 2517 SH DEFINED 1 1719 798 0
VIAD CORPORATION 92552R406 2 87 SH SOLE 1 87 0 0
VIACOM INC CL B 925524308 389 11944 SH SOLE 1 11730 0 214
VIACOM INC CL B 925524308 10 325 SH DEFINED 1 325 0 0
VIGNETTE CORP COM NEW 926734401 33 2085 SH SOLE 1 315 0 1770
VISTEON CORP 92839U107 0 10 SH SOLE 1 10 0 0
VITRAN CORP 92850E107 12 630 SH SOLE 1 0 0 630
VODAFONE GROUP PLC NEW 92857W100 205 9586 SH SOLE 1 3409 0 6177
VODAFONE GROUP PLC NEW 92857W100 12 565 SH DEFINED 1 0 565 0
W H ENERGY SERVICES 92925E108 19 575 SH SOLE 1 0 0 575
WPP GROUP PLC SPON ADR 0905 929309409 380 7052 SH SOLE 1 260 0 6792
WACHOVIA CORP 2ND NEW 929903102 481 9116 SH SOLE 1 5504 0 3612
WACHOVIA CORP 2ND NEW 929903102 26 500 SH DEFINED 1 500 0 0
WAL MART STORES INC COM 931142103 1675 35802 SH SOLE 1 30867 0 4935
WAL MART STORES INC COM 931142103 188 4036 SH DEFINED 1 1036 3000 0
WALGREEN CO COM 931422109 243 5503 SH SOLE 1 2383 0 3120
WASHINGTON MUTUAL INC 939322103 374 8619 SH SOLE 1 290 0 8329
WASTE CONNECTIONS INC 941053100 51 1496 SH SOLE 1 221 0 1275
WASTE MANAGEMENT INC NEW 94106L109 106 3510 SH SOLE 1 1250 0 2260
WATSCO INC 942622200 64 1080 SH SOLE 1 155 0 925
WEBEX COMMUNICATIONS COM 94767L109 16 785 SH SOLE 1 0 0 785
INC
WELLPOINT INC COM 94973V107 119 1500 SH SOLE 1 0 0 1500
WELLS FARGO & CO. NEW 949746101 121 1931 SH SOLE 1 1660 0 271
** VOTING AUTHORITY **
---------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ---------- --------- ------ ------------ --- ---- ---------- -------- ------ ------- ----------
WELLS FARGO & CO. NEW 949746101 12 200 SH DEFINED 1 200 0 0
WESTAR ENERGY INC 95709T100 58 2730 SH SOLE 1 580 0 2150
WEYERHAEUSER CO COM 962166104 33 500 SH SOLE 1 0 0 500
WHIRLPOOL CORP 963320106 31 380 SH SOLE 1 0 0 380
WHITING PETE CORP NEW COM 966387102 44 1109 SH SOLE 1 164 0 945
WHITNEY HOLDING CORP COMMON 966612103 58 2125 SH SOLE 1 2125 0 0
WHOLE FOODS MARKET INC 966837106 201 2600 SH SOLE 1 0 0 2600
WILLIAMS SONOMA INC 969904101 64 1500 SH SOLE 1 0 0 1500
WITNESS SYSTEM INC 977424100 21 1100 SH SOLE 1 0 0 1100
WYETH 983024100 832 18072 SH SOLE 1 11077 0 6995
XM SATELLITE 983759101 681 25000 SH SOLE 1 25000 0 0
XCEL ENERGY INC 98389B100 2 154 SH SOLE 1 154 0 0
YAHOO INC 984332106 348 8891 SH SOLE 1 429 0 8462
YUM BRANDS INC 988498101 63 1346 SH SOLE 1 1346 0 0
ZIMMER HLDGS INC 98956P102 116 1722 SH SOLE 1 409 0 1313
AMERICAN CAP COM 024937104 1807 1230 SOLE NONE 0 0 1230
STRATEGIES LTD
AUTOMATIC DATA COM 053015103 2115 100 SOLE NONE 0 0 100
PROCESSING INC
AFLAC INC 001055102 527 500 SOLE NONE 0 0 500
AK STL HLDG CORP COM 001547108 252 2000 SOLE NONE 0 0 2000
ALLSTATE CORP 020002101 2549 350 SOLE NONE 0 0 350
AMGEN INC 031162100 1387 390 SOLE NONE 0 0 390
AMSURG CORP COM 03232P405 728 500 SOLE NONE 0 0 500
AMSOUTH COM 032165102 2269 13724 SOLE NONE 0 0 13724
BANCORPORATION
ALLTEL CORP 020039103 2300 225 SOLE NONE 0 0 225
ACTIVISION INC (NEW) 004930202 116 1000 SOLE NONE 0 0 1000
BOEING CO COM 097023105 728 500 SOLE NONE 0 0 500
BANK OF AMERICA COM 060505104 6558 2190 SOLE NONE 0 0 2190
BEST BUY COMPANY INC 086516101 134 97 SOLE NONE 0 0 97
BARCLAYS PLC ADRS 06738E204 351 75 SOLE NONE 0 0 75
BHP BILLITON LTD SPONSORED 088606108 527 500 SOLE NONE 0 0 500
ADR
ISIN#US08860
61086
BIOMET INC 090613100 527 500 SOLE NONE 0 0 500
BROWN & BROWN INC 115236101 434 400 SOLE NONE 0 0 400
BONANZA RES CORP COM 09784P107 728 122 SOLE NONE 0 0 122
ISIN#CA09784
P1071
BOSTON SCIENTIFIC CORP 101137107 134 120 SOLE NONE 0 0 120
ANHEUSER-BUSCH COS INC 035229103 485 175 SOLE NONE 0 0 175
BANCORPSOUTH INC 059692103 2385 13123 SOLE NONE 0 0 13123
BACKYARD BURGERS INC COM 05635W101 270 2000 SOLE NONE 0 0 2000
CITIGROUP INC COM 172967101 9116 4955 SOLE NONE 0 0 4955
CINERGY CORP COM 172474108 2992 1050 SOLE NONE 0 0 1050
PUT 100 CHIRON CORP 1700409PH 728 50 SOLE NONE 0 0 50
EXP 04-22-06 @ 40
PUT 100 CHIRON CORP 1700409PI 527 7 PUT SOLE NONE 0 0 7
EXP 04-22-06 @ 45
COLGATE-PALMOLIVE CO 194162103 601 500 PUT SOLE NONE 0 0 500
CLEVELAND CLIFFS INC 185896107 1255 550 SOLE NONE 0 0 550
CAPITAL ONE FINL CORP COM 14040H105 185 100 SOLE NONE 0 0 100
CREE INC COM 225447101 116 500 SOLE NONE 0 0 500
CISCO SYSTEMS INC 17275R102 3209 5900 SOLE NONE 0 0 5900
COVENTRY HEALTH CARE COM 222862104 455 650 SOLE NONE 0 0 650
INC
CVS CORP COM 126650100 270 500 SOLE NONE 0 0 500
CHEVRON CORP COM 166764100 810 596 SOLE NONE 0 0 596
DELL INC COM 24702R101 2252 1650 SOLE NONE 0 0 1650
DELUXE CORP 248019101 533 310 SOLE NONE 0 0 310
DOW CHEM CO 260543103 5248 2965 SOLE NONE 0 0 2965
DIRECTV GROUP INC COM 25459L106 657 SOLE NONE 0 0
DUKE ENERGY CORP COM 264399106 6056 3175 SOLE NONE 0 0 3175
ISHARES TR DOW JONES 464287168 601 300 SOLE NONE 0 0 300
SELECT DIVID INDEX
FD
ISHARES TR MSCI EAFE 464287465 1607 1194 SOLE NONE 0 0 1194
INDEX FD
EMULEX CORP COM NEW 292475209 270 500 SOLE NONE 0 0 500
ISHARES INC MSCI 464286665 9069 4872 SOLE NONE 0 0 4872
PACIFIC EX JAPAN
INDEX FD
ISHARES INC MSCI 464286848 2115 1500 SOLE NONE 0 0 1500
JAPAN INDEX FD
ISHARES INC MSCI 464286830 5696 20491 SOLE NONE 0 0 20491
MALAYSIA FREE INDEX
FD
FEDEX CORP COM 31428X106 910 470 SOLE NONE 0 0 470
FEDERAL SIGNAL CORP 313855108 116 1000 SOLE NONE 0 0 1000
FOSTER WHEELER LTD SHS NEW G36535139 728 500 SOLE NONE 0 0 500
ISIN#BMG3653
51391
GENERAL AMERN INVS CO COM 368802104 9069 11800 SOLE NONE 0 0 11800
INC
GENERAL ELECTRIC CO COM 369604103 5160 10035 SOLE NONE 0 0 10035
GROWTH FUND OF CLASS F 399874403 1320 3239.7290 SOLE NONE 0 0 3239.7290
AMERICA
GENERAL MTRS CORP COM 370442105 657 SOLE NONE 0 0
** VOTING AUTHORITY **
---------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ------------ --------- ------ ------------ --- ---- ---------- -------- ------ ------- ----------
GAMESTOP CORP NEW CL B 36467W208 728 500 SOLE NONE 0 0 500
CALL 100 GOOGLE INC CL A EXP 3825929BD 728 10 CALL SOLE NONE 0 0 10
02-18-06 @
420
GOLDMAN SACHS GROUP COM 38141G104 315 100 SOLE NONE 0 0 100
INC
HCA INC COM 404119109 320 100 SOLE NONE 0 0 100
HOME DEPOT INC COM 437076102 270 500 SOLE NONE 0 0 500
HOME SOLUTIONS AMER COM 437355100 527 7000 SOLE NONE 0 0 7000
INC
ISHARES TR NASDAQ 464287556 136 500 SOLE NONE 0 0 500
BIOTECHNOLOGY INDEX
FD
INTERNATIONAL COM 459200101 1431 390 SOLE NONE 0 0 390
BUSINESS MACHS CORP
ISHARES TR S&P MIDCAP 464287507 1607 2610 SOLE NONE 0 0 2610
400 INDEX FD
ISHARES TR S&P LATIN 464287390 2115 160 SOLE NONE 0 0 160
AMER 40 INDEX FD
INTEL CORP COM 458140100 2355 1410 SOLE NONE 0 0 1410
ISHARES TR DOW JONES 464287788 9069 4014 SOLE NONE 0 0 4014
US FINL SECTOR INDEX
FD
JOHNSON & JOHNSON COM 478160104 4410 2400 SOLE NONE 0 0 2400
JUNIPER NETWORKS INC COM 48203R104 527 2000 SOLE NONE 0 0 2000
JP MORGAN CHASE & CO COM 46625H100 657 200 SOLE NONE 0 0 200
ISIN#US46625
H1005
KRAFT FOODS INC CL A 50075N104 1254 375 SOLE NONE 0 0 375
LILLY ELI & CO COM 532457108 600 500 SOLE NONE 0 0 500
LG PHILIPS LCD CO LTD SPON ADR 50186V102 270 500 SOLE NONE 0 0 500
REPSTG
COM
LANDSTAR SYSTEMS INC COM 515098101 185 200 SOLE NONE 0 0 200
LUCENT TECHNOLOGIES COM 549463107 2165 6500.1780 SOLE NONE 0 0 6500.1780
INC
MCAFEE INC COM 579064106 270 500 SOLE NONE 0 0 500
MKS INSTRS INC COM 55306N104 185 200 SOLE NONE 0 0 200
MILLENNIUM COM 599902103 136 2000 SOLE NONE 0 0 2000
PHARMACEUTICALS INC
ALTRIA GROUP INC COM 02209S103 2393 1390 SOLE NONE 0 0 1390
MOTOROLA INC 620076109 527 500 SOLE NONE 0 0 500
MICROSOFT CORP COM 594918104 7834 6120 SOLE NONE 0 0 6120
MSGI SEC SOLUTIONS COM 553570102 434 42 SOLE NONE 0 0 42
INC
MERITOR SAVINGS BK 590007100 1255 27600 SOLE NONE 0 0 27600
MYLAN LABORATORIES 628530107 351 270 SOLE NONE 0 0 270
INC
NOVASTAR FINCL INC COM 669947400 728 1000 SOLE NONE 0 0 1000
NEWS CORP CL A 65248E104 657 SOLE NONE 0 0
OCCIDENTAL PETROLEUM 674599105 728 300 SOLE NONE 0 0 300
CORP
PEPSICO INC 713448108 3581 1040 SOLE NONE 0 0 1040
PFIZER INC COM 717081103 1810 1580 SOLE NONE 0 0 1580
PROCTER & GAMBLE CO 742718109 6992 5637 SOLE NONE 0 0 5637
PHARMION CORP COM 71715B409 270 500 SOLE NONE 0 0 500
PPG INDUSTRIES INC 693506107 728 500 SOLE NONE 0 0 500
QUALCOMM INC 747525103 527 500 SOLE NONE 0 0 500
NASDAQ 100 TR 631100104 1656 1620 SOLE NONE 0 0 1620
UNIT SER
1
REYNOLDS AMERN INC COM 761713106 527 600 SOLE NONE 0 0 600
REGIONS FINL CORP NEW COM 7591EP100 657 800 SOLE NONE 0 0 800
RESNASANT CORP COM 75970E107 2115 2158 SOLE NONE 0 0 2158
RAYTHEON CO COM NEW 755111507 657 SOLE NONE 0 0
SANMINA SCI CORP COM 800907107 136 1000 SOLE NONE 0 0 1000
SCHERING-PLOUGH CORP COM 806605101 728 1500 SOLE NONE 0 0 1500
SIRIUS SATELLITE COM 82966U103 320 2600 SOLE NONE 0 0 2600
RADIO INC
SMUCKER J M CO COM NEW 832696405 171 4 SOLE NONE 0 0 4
SANOFI-AVENTIS SPONS ADR 80105N105 182 50 SOLE NONE 0 0 50
ISIN#US80105
N1054
SOLUTIA INC COM 834376105 657 SOLE NONE 0 0
SONUS NETWORKS INC COM 835916107 116 4175 SOLE NONE 0 0 4175
STANDARD & POORS DEPOSITARY 78462F103 6830 6250 SOLE NONE 0 0 6250
RECEIPTS
(SPDR'S)
UNITS OF
UNDIVIDED
BENEFICIAL
INTEREST
CONSTELLATION BRANDS CL A 21036P108 182 300 SOLE NONE 0 0 300
INC
SEVEN SEAS PETROLEUM ORD SHS G80550109 728 5000 SOLE NONE 0 0 5000
INC ISIN#KYG8055
01098
SYSCO CORP 871829107 2730 1130 SOLE NONE 0 0 1130
AT&T INC COM 00206R102 2300 466 SOLE NONE 0 0 466
TEVA PHARMACEUTICAL ADR 881624209 728 500 SOLE NONE 0 0 500
INDUSTRIES LTD ISIN#US88162
42098
HOUSTON EXPLORATION COM 442120101 533 300 SOLE NONE 0 0 300
CO
TRIAD HOSPS INC COM 89579K109 270 500 SOLE NONE 0 0 500
TRUSTMARK CORP 898402102 296 1000 SOLE NONE 0 0 1000
TAIWAN SPONSORED 874039100 1254 1810 SOLE NONE 0 0 1810
** VOTING AUTHORITY **
---------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ------------ --------- ------ ------------ --- ---- ---------- -------- ------ ------- ----------
SEMICONDUCTOR MFG CO ADR
ISIN#US87403
91003
TEXAS INDUSTRIES INC 882491103 116 300 SOLE NONE 0 0 300
UNITEDHEALTH GROUP COM 91324P102 527 1984 SOLE NONE 0 0 1984
INC
UNITED PARCEL SVC INC CL B 911312106 270 500 SOLE NONE 0 0 500
US BANCORP DEL COM NEW 902973304 2115 500 SOLE NONE 0 0 500
UNITED TECHNOLOGIES DEL COM 913017109 728 800 SOLE NONE 0 0 800
CORP
WALGREEN CO 931422109 270 1500 SOLE NONE 0 0 1500
CAPITAL WORLD BOND CLASS F 140541400 434 743.8280 SOLE NONE 0 0 743.8280
FUND
WELLS FARGO & CO NEW COM 949746101 728 500 SOLE NONE 0 0 500
WAL MART STORES INC 931142103 1560 1100 SOLE NONE 0 0 1100
CALL 100 WALMART 9311429CH 728 10 CALL SOLE NONE 0 0 10
STORES INC EXP
03-18-06 @ 40
WASHINGTON MUTUAL CLASS F 939330403 4563 10353.5050 SOLE NONE 0 0 10353.5050
INVESTORS FUND
AQUA AMERICA INC COM 03836W103 728 666 SOLE NONE 0 0 666
SELECT SECTOR SPDR FD 81369Y100 20071 8153.7400 SOLE NONE 0 0 8153.7400
MATERIALS
SECTOR SPDR TR SHS 81369Y605 14375 13833 SOLE NONE 0 0 13833
BEN INT FINANCIAL
EXXON MOBIL CORP COM 30231G102 626 1300 SOLE NONE 0 0 1300
ZIMMER HLDGS INC COM 98956P102 171 100 SOLE NONE 0 0 100
FT UNIT 1042 DOW 30269Y793 351 2567 SOLE NONE 0 0 2567
TARGET DIVIDEND PORT
DEC 2005 SER SEMI
ANNU FEE ACCT CASH
FT UNIT 950 DOW 30268L321 351 1675 SOLE NONE 0 0 1675
TARGET DIV PORT 2ND
QTR 2005 SER SEMI
ANNUAL FEE ACCTS
CASH
FT UNIT 950 VALUE 30268L685 351 1770 SOLE NONE 0 0 1770
LINE TARGET 25 PORT
2ND QTR 2005 SER SEMI
ANNUAL FEE ACCTS
CASH
NUVEEN PFD & CONV COM PFD 67073D607 3373 7 SOLE NONE 0 0 7
INCOME FD 2 SER W
NUVEEN PFD & CONV RT 67073B601 3373 22 SOLE NONE 0 0 22
INCOME FD AUCTION PREFERRED
SHS SER F
CALLABLE
NUVEEN PFD & CONV PREFERRED 67073B205 3373 6 SOLE NONE 0 0 6
INCOME FD FUND SHS SER M
NUVEEN QUALITY PFD 2 PFD SHS 67072C204 3373 5 SOLE NONE 0 0 5
INCOME FD SER M
CALLABLE
NUVEEN QUALITY PFD PFD SHS 67071S606 3373 8 SOLE NONE 0 0 8
INCOME FD SER
CALLABLE
FT UNIT 913 VALUE 30268H791 2115 5535.9378 SOLE NONE 0 0 5535.9378
LINE TARGET 25
PORTFOLIO 1ST QUARTER
2005 SER SEMI ANNUAL
FEE ACCTS
REINVESTMENT
FT UNIT 942 NYSE INTL 30268K638 2115 5215.0164 SOLE NONE 0 0 5215.0164
TARGET 25 PORTFOLIO
1ST QUARTER 2005 SER
B SEMI ANNUAL FEE
ACCTS REINVESTMENT
FT UNIT 946 VALUE 30268L693 208 1541.8250 SOLE NONE 0 0 1541.8250
LINE TARGET 25 PORT
APRIL 2005 SER SEMI
ANNUAL FEE ACCTS
REINVEST
FT UNIT 950 DOW 30268L339 208 1573.6441 SOLE NONE 0 0 1573.6441
TARGET DIV PORT 2ND
QTR 2005 SER SEMI
ANNUAL FEE ACCTS
REINVEST
FT UNIT 1042 DOW 30269Y793 267 2574 SOLE NONE 0 0 2574
TARGET DIVIDEND PORT
DEC 2005 SER SEMI
ANNU FEE ACCT CASH
FT UNIT 1042 VALUE 30269X837 267 2500 SOLE NONE 0 0 2500
LINE TARGET 25 PORT
DEC 2005 SER SEMI
ANNU FEE ACCT CASH
FT UNIT 913 VALUE 30268H791 81 1521.7789 SOLE NONE 0 0 1521.7789
LINE TARGET 25
PORTFOLIO 1ST QUARTER
2005 SER SEMI ANNUAL
FEE ACCTS
REINVESTMENT
FT UNIT 970 TARGET 30269B850 81 1506.0922 SOLE NONE 0 0 1506.0922
VIP PORT JULY 2005
SER SEMI ANNU FEE
ACCOUNTS
REINVESTMENT
FT UNIT 1042 DOW 30269Y793 255 2574 SOLE NONE 0 0 2574
TARGET DIVIDEND PORT
DEC 2005 SER SEMI
ANNU FEE ACCT CASH
** VOTING AUTHORITY **
----------------------------
MKT
TITLE OF VAL x SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP 1000 QTY PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------- ----------- --------- ------- -------------- --- ---- ---------- -------- ------ ------- ------------
FT UNIT 1042 VALUE 30269X837 255 2500 SOLE NONE 0 0 2500
LINE TARGET 25 PORT
DEC 2005 SER SEMI
ANNU FEE ACCT CASH
NUVEEN FLOATING RATE PFD SHS 67072T207 14375 5 SOLE NONE 0 0 5
INCOME FD FD SER M
NUVEEN FLOATING RATE PFD SHS 6706EN209 14375 1 SOLE NONE 0 0 1
INCOME OPPORTUNITY FD SER M
AUCTION
RATE PRFD
NUVEEN PFD & CONV PFD SER M 67073D201 14375 2 SOLE NONE 0 0 2
INCOME FD 2 CALLABLE
AUCTION
RATE PFD
NUVEEN PFD & CONV PFD SER TH 67073D805 14375 40 SOLE NONE 0 0 40
INCOME FD 2 0%
CALLABLE
NUVEEN PFD & CONV 67073B502 14375 20 SOLE NONE 0 0 20
INCOME FD FUND
NUVEEN QUALITY PFD PREFERRED 67072C204 14375 35 SOLE NONE 0 0 35
INCOME FD 2 PFD SHS SHS SER
SER M CALLABLE TH
NUVEEN QUALITY PFD PFD SHS 67071S309 14375 2 SOLE NONE 0 0 2
INCOME FD SER T 0.0%
CALLABLE
FT UNIT 1028 TARGET 30269Y231 1110 7474 SOLE NONE 0 0 7474
VIP PORTFOLIO NOV
2005 SER SEMI ANNUAL
FEE ACCT
REINVESTMENT
FT UNIT 970 TARGET 30269B850 182 1434.8038 SOLE NONE 0 0 1434.8038
VIP PORT JULY 2005
SER SEMI ANNU FEE
ACCOUNTS
REINVESTMENT
AMERITRADE HLDG N/C 03074K100 728 500 SOLE NONE 0 0 500
EFF 1/24/06 1 OLD=1
CU#87236Y108 TD
AMERITRADE INC
FT UNIT 964 THE DOW 30269B249 516 2569 SOLE NONE 0 0 2569
TARGET DIVIDEND PORT
MAY 2005 SER SEMI
ANNUAL FEE ACCT CASH
FT UNIT 964 VALUE 30269B322 516 2590 SOLE NONE 0 0 2590
LINE TARGET 25 PORT
MAY 2005 SEMI ANNUAL
FEE ACCT CASH
FT UNIT 1014 TARGET 30269U221 2024 16646 SOLE NONE 0 0 16646
VIP PORT OCT 2005 SER
SEMI ANNU FEE ACCT
CASH
FT UNIT 1042 DOW 30269Y793 2024 7722 SOLE NONE 0 0 7722
TARGET DIVIDEND PORT
DEC 2005 SER SEMI
ANNU FEE ACCT CASH
NUVEEN QUALITY PFD PFD SHS 67071S408 1607 2 SOLE NONE 0 0 2
INCOME FD SER W 0%
CALLABLE
GRAND TOTALS 1073174 15853355.0782 4607090 9983657 1262608.0782