Albion Financial Group

Albion Financial as of March 31, 2006

Portfolio Holdings for Albion Financial

Albion Financial holds 0 positions in its portfolio as reported in the March 2006 quarterly 13F filing

                Name of Reporting Manager: Albion Financial Group

                                                                   Investment Discretion               Voting Authority

        Name of Issuer           Title   CUSIP     Value   Shares/ (a) Sole (b) Share(c) Share  Other  (a) Sole (b) Share(c) None
                               of Class          	   Prn Amt           Defined   Other  Managers
----------------               -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- --------
{S}                               {C}      {C}      {C}      {C}      {C}      {C}      {C}      {C}      {C}      {C}      {C}
3Com Corporation               COM      885535104    15360     3000    X                                                     X
3M Company                     COM      88579Y101   622096     8219    X                                                     X
A C Moore Arts & Crafts Inc.   COM      00086T103     1840      100    X                                                     X
AT^T Corp.                     COM      00206r102    63679     2355    X                                                     X
Abbott Laboratories            COM      002824100    81371     1916    X                                                     X
Actionview International Inc.  COM      00506R109        2       22    X                                                     X
Adept Technology Inc.          COM      006854202     5000      500    X                                                     X
Adobe Systems                  COM      00724F101    20970      600    X                                                     X
Advanced Medical Optics        COM      00763M108     7696      165    X                                                     X
Advantage Cap Dev Corp.        COM      007559107        0        3    X                                                     X
Akamai Technologies, Inc.      COM      00971T101 15065100   458045    X                                                     X
Alcoa Inc.                     COM      013817101     3056      100    X                                                     X
Alexander & Baldwin            COM      014482103     2622       55    X                                                     X
Alexion Pharmaceuticals, Inc.  COM      015351109    24794      700    X                                                     X
Allergan Inc.                  COM      018490102    80290      740    X                                                     X
Allscripts Healthcare SolutionsCOM      01988p108  5313159   290178    X                                                     X
Alltel Corporation             COM      020039103    47915      740    X                                                     X
Altiris Inc Com                COM      02148m100    74834     3400    X                                                     X
Altria Group, Inc.             COM      02209S103    17715      250    X                                                     X
Amazon Com, Inc.               COM      023135106     3653      100    X                                                     X
Amerada Hess Corporation       COM      023551104    28480      200    X                                                     X
Ameren Corporation             COM      023608102     9964      200    X                                                     X
American Consolidated MGT GRP  COM      025225103       35      120    X                                                     X
American Electric Power        COM      025537101    34020     1000    X                                                     X
American Italian Pasta Company COM      027070101     1252      200    X                                                     X
American Water Star Inc.       COM      030409106       60     3000    X                                                     X
Amgen Corp.                    COM      031162100  5315115    73060    X                                                     X
Anadarko Petroleum Corporation COM      032511107    26566      263    X                                                     X
Apache Corporation             COM      037411105    42844      654    X                                                     X
Apple Computer, Inc.           COM      037833100    87808     1400    X                                                     X
Applied Materials Inc.         COM      038222105    31518     1800    X                                                     X
Aptargroup, Inc.               COM      038336103   183983     3330    X                                                     X
Arch Coal Inc                  COM      039380100    22782      300    X                                                     X
Ariel Resources                COM      04033r103        2    20000    X                                                     X
Atlas Pipeline Partners, L.P.  COM      049392103     8460      200    X                                                     X
Audible Inc.                   COM      05069a302   111879    10645    X                                                     X
Auto Desk, Inc.                COM      052769106    14638      380    X                                                     X
Automatic Data Processing, Inc.COM      053015103    39285      860    X                                                     X
Avid Technology Inc            COM      05367p100  3875111    89165    X                                                     X
BHP Billiton Limited           COM      088606108    19925      500    X                                                     X
BP Amoco PLC                   COM      055622104   706428    10247    X                                                     X
Ball Corporation               COM      058498106     8766      200    X                                                     X
Bank of America Corp.          COM      060505104   167724     3683    X                                                     X
Bank of Utah                   COM      065427106   415500     8310    X                                                     X
Bed Bath & Beyond              COM      075896100    44160     1150    X                                                     X
Berkshire Hathaway CL B        COM      084670207    69276       23    X                                                     X
Bill Barrett Corporation       COM      06846n104    10592      325    X                                                     X
Black & Decker                 COM      091797100  6019392    69276    X                                                     X
Blackboard, Inc.               COM      091935502    67190     2365    X                                                     X
Boeing                         COM      097023105   130455     1674    X                                                     X
Bristol Myers Squibb Co.       COM      110122108    17719      720    X                                                     X
Broadcom Corporation           COM      111320107    12948      300    X                                                     X
Burlington Northern Santa Fe CoCOM      12189T104   199992     2400    X                                                     X
Burlington Resources, Inc.     COM      122014103    36764      400    X                                                     X
CTC Communications Group Inc.  COM      126419100       15      150    X                                                     X
Calamos Asset Management, Inc. COM      12811r104   224213     5995    X                                                     X
Canetic Resources Trust        COM      137513107    17416      833    X                                                     X
Cascade Natural Gas CorporationCOM      147339105    19700     1000    X                                                     X
Catapult Communication         COM      149016107     7980      600    X                                                     X
Caterpillar Inc.               COM      149123101    32458      452    X                                                     X
Ceragon Networks Ltd.          COM      m22013102   132756    27600    X                                                     X
Cerner Corporation             COM      156782104  8268779   174263    X                                                     X
Chesapeake Energy              COM      165167107     9423      300    X                                                     X
ChevronTexaco Corp.            COM      166764100   268227     4627    X                                                     X
China Natural Resources Inc.   COM      g2110u109       12        1    X                                                     X
Chiron Corporation             COM      170040109    18324      400    X                                                     X
Cisco Systems                  COM      17275R102    73938     3412    X                                                     X
Citigroup, Inc.                COM      172967101  1569075    33222    X                                                     X
Citizens Communications        COM      177342201     1327      100    X                                                     X
Coach Inc.                     COM      189754104    70128     2028    X                                                     X
Coca-Cola Co.                  COM      191216100   157264     3756    X                                                     X
Coeur d'Alene Mines Corp.      COM      192108108      984      150    X                                                     X
Colorado Casino                COM      196334106        0     1000    X                                                     X
Comcast CL 'a'                 COM      20030N101     7848      300    X                                                     X
Comcast Corp. New CL A         COM      20030n200   187855     7192    X                                                     X
Companhia De Saneamento Basico COM      20441A102     4402      200    X                                                     X
Computer Sciences Corporation  COM      205363104    11110      200    X                                                     X
Computerized Thermal Imaging   COM      20557c108      563     4500    X                                                     X
Conocophillips                 COM      20825C104    18945      300    X                                                     X
Consolidated Plentech ElectroniCOM      20978N105       74     3700    X                                                     X
Consumers Power                COM      125896100     1088       84    X                                                     X
Cooper Cameron Corp.           COM      216640102   152517     3460    X                                                     X
Corning Inc.                   COM      219350105    10768      400    X                                                     X
Corporate Fin. Co New          COM      21989a108        0      500    X                                                     X
Costco Wholesale Corp.         COM      22160K105    83948     1550    X                                                     X
Courier Corp                   COM      222660102    66510     1500    X                                                     X
Cree, Inc                      COM      225447101   108273     3300    X                                                     X
Critical Path Inc              COM      22674V506        9       25    X                                                     X
Curis Inc.                     COM      231269101     3570     1500    X                                                     X
Cytogen                        COM      232824102      326       90    X                                                     X
Danka Business Sys             COM      236277109     3521     2500    X                                                     X
Dean Foods Co.                 COM      242370104     3883      100    X                                                     X
Deere & Co.                    COM      244199105    79050     1000    X                                                     X
Del Rio Resources Inc.         COM      245370101        0    22500    X                                                     X
Dell Computer                  COM      24702r101      744       25    X                                                     X
Delphi Automotive Systems Corp.COM      247126105       48       75    X                                                     X
Delta Petroleum Corp.          COM      247907207    42040     2000    X                                                     X
Dentsply International Inc.    COM      249030107  5680686    97690    X                                                     X
Developers Diversified Realty CCOM      251591103     5475      100    X                                                     X
Devon Energy Corporation       COM      25179M103    21410      350    X                                                     X
Diamondcluster International   COM      25278p106   184168    17212    X                                                     X
Discovery Holding Co.          COM      25468y107    15945     1063    X                                                     X
Discovery Partners Intl.       COM      254675101     2430     1000    X                                                     X
Dominion Resources             COM      25746u109    90498     1311    X                                                     X
Donaldson Company, Inc.        COM      257651109     3379      100    X                                                     X
Dover                          COM      260003108    92021     1895    X                                                     X
Dow Chemical Co.               COM      260543103    40600     1000    X                                                     X
Du Pont De Nemours             COM      263534109    33979      805    X                                                     X
Duke Energy Corp.              COM      26441c105    79932     2742    X                                                     X
Dun & Bradstreet New           COM      26483e100    14569      190    X                                                     X
E.W. Scripps Company           COM      811054204   277649     6210    X                                                     X
EBay Inc.                      COM      278642103     9750      250    X                                                     X
East West Bancorp, Inc.        COM      27579r104   127793     3315    X                                                     X
EastGroup Properties, Inc.     COM      277276101    23569      497    X                                                     X
Eastman Chemical Co.           COM      277432100   690418    13490    X                                                     X
Easy Golf Corp                 COM      27785c107        0     3167    X                                                     X
Ecolab Inc.                    COM      278865100   240507     6296    X                                                     X
Edison International           COM      281020107    12931      314    X                                                     X
Edwards Lifesciences Corp      COM      28176E108     3045       70    X                                                     X
El Paso Corporation            COM      28336L109    48308     4009    X                                                     X
Electronic Arts                COM      285512109     9576      175    X                                                     X
Eli Lilly & Co.                COM      532457108    55300     1000    X                                                     X
Emerson Electric               COM      291011104    58541      700    X                                                     X
Endovasc Inc. Ser NDC          COM      29267b201        0        5    X                                                     X
Energen Corp                   COM      29265N108    14000      400    X                                                     X
Enerplus Resources Fund        COM      29274D604    20176      400    X                                                     X
Engage Inc.                    COM      292827102        0     2000    X                                                     X
Enterprise Products            COM      293792107    43158     1748    X                                                     X
Equitable Resources, Inc.      COM      294549100    36510     1000    X                                                     X
Equity Income Fund Unit 1st ExcCOM      294700703     8622      100    X                                                     X
Evans & Sutherland             COM      299096107    49716     7744    X                                                     X
Exact Identification Corp.     COM      300626108      220    10000    X                                                     X
Express Scripts Inc.           COM      302182100    36566      416    X                                                     X
Exxon Mobil Corp.              COM      30231G102  3175492    52177    X                                                     X
FX Energy, Inc.                COM      302695101    20920     4000    X                                                     X
Fair Isaac Corporation         COM      303250104     7924      200    X                                                     X
Federal Resources Corp.        COM      313765109        0       30    X                                                     X
Federated Dept. DEL NEW        COM      31410H101     4526       62    X                                                     X
First Data                     COM      319963104    70558     1507    X                                                     X
Firstmerit Corporation         COM      337915102   115384     4679    X                                                     X
Focus Media Holding Limited - ACOM      34415v109   193207     3330    X                                                     X
Fonix Corporation              COM      34459U306        0       25    X                                                     X
Forest Labs                    COM      345838106     8926      200    X                                                     X
Forest Oil Corp                COM      346091705    73802     1985    X                                                     X
Foundry Networks, Inc.         COM      35063R100     9407      518    X                                                     X
Freeport-McMoRan Copper & Gold COM      35671D857    62938     1053    X                                                     X
Freescale Semiconductor CL B   COM      35687m206     2338       84    X                                                     X
Fuelcell Energy Incorporated   COM      35952H106    22940     2000    X                                                     X
Galaxy Energy                  COM      36318B106     2800     2500    X                                                     X
General Dynamics Corp.         COM      369550108    12796      200    X                                                     X
General Electric               COM      369604103113315768  3258073    X                                                     X
General Mills                  COM      370334104    37098      732    X                                                     X
Genesee & Wyoming Inc.         COM      371559105     9204      300    X                                                     X
Genuine Parts Company          COM      372460105     8766      200    X                                                     X
Genzyme General Division       COM      372917104    15326      228    X                                                     X
GlaxoSmithKline                COM      37733W105     1046       20    X                                                     X
Globalstar Telecommunications LCOM      G3930H104      120    12000    X                                                     X
Goldcorp Inc.                  COM      380956409     4388      150    X                                                     X
Good Times Restaurants New     COM      382140887     1050      200    X                                                     X
Google Inc.                    COM      38259P508   447330     1147    X                                                     X
Granite Construction Company   COM      387328107     9736      200    X                                                     X
Great Plains Energy            COM      391164100    19705      700    X                                                     X
Groupe Bruxelles Lambert       COM      b4746j115    22400      200    X                                                     X
Gucci Group NV                 COM      401566104      960       12    X                                                     X
Guidant Corp.                  COM      401698105     7806      100    X                                                     X
Harley-Davidson Inc.           COM      412822108    36316      700    X                                                     X
Harrah's Entertainment Inc.    COM      413619107    15592      200    X                                                     X
Hawaiian Electric Industries   COM      419870100    27130     1000    X                                                     X
Headwaters Inc.                COM      42210P102     7958      200    X                                                     X
Health Care Property INVS Inc. COM      421915109    11360      400    X                                                     X
Health Care REIT Inc.          COM      42217K106    11430      300    X                                                     X
Healthways, Inc.               COM      422245100   127095     2495    X                                                     X
Hewlett-Packard Co.            COM      428236103   100181     3045    X                                                     X
Home Depot                     COM      437076102    56048     1325    X                                                     X
Honeywell International Inc.   COM      438516106   171080     4000    X                                                     X
Hospira, Inc.                  COM      441060100     7458      189    X                                                     X
Housevalues Inc.               COM      44183y102      165       20    X                                                     X
IBEAM Broadcasting             COM      45073p408        0       45    X                                                     X
IDM Pharma Inc.                COM      449394105      101       17    X                                                     X
ITC DeltaCom                   COM      45031t872        7        7    X                                                     X
Idacorp Inc.                   COM      451107106     5951      183    X                                                     X
Ikon Office Solutions          COM      451713101   249389    17501    X                                                     X
Imax Corporation               COM      45245E109  4889336   481708    X                                                     X
Immunogen Inc.                 COM      45253H101     8680     2000    X                                                     X
Imperial Chem Ind Plc          COM      452704505    48080     2000    X                                                     X
Inco Limited                   COM      453258402  6660728   133508    X                                                     X
Indymac Bancorp Inc.           COM      456607100     4093      100    X                                                     X
Infocrossing, Inc.             COM      45664x109    34282     2845    X                                                     X
Infosys Technologies Limited   COM      456788108    11679      150    X                                                     X
Ingersoll-Rand Company Limited COM      G4776G101     8358      200    X                                                     X
Innovex Inc.                   COM      457647105    10380     2000    X                                                     X
Inovio Biomedical Corp.        COM      45773H102      668      250    X                                                     X
Insmed Inc.                    COM      457669208     6435     3300    X                                                     X
Intel Corp.                    COM      458140100    53807     2765    X                                                     X
Intercapital Quality Muni IncomCOM      45844G109     9451      650    X                                                     X
International Game Technology  COM      459902102  5797599   164611    X                                                     X
International Paper            COM      460146103    17285      500    X                                                     X
International Rectifier CorporaCOM      460254105    41637     1005    X                                                     X
Invacare Corp                  COM      461203101     9473      305    X                                                     X
Itron, Inc.                    COM      465741106    17955      300    X                                                     X
J.P. Morgan Chase & Co.        COM      46625H100    69955     1680    X                                                     X
JetBlue Airways Corporation    COM      477143101     1608      150    X                                                     X
Johnson & Johnson              COM      478160104    55193      932    X                                                     X
Johnson Controls               COM      478366107     7593      100    X                                                     X
Jupiter Enterprises Inc New    COM      48205Q203      188      500    X                                                     X
Kadant                         COM      48282T104      182        8    X                                                     X
KeraVision Inc.                COM      492061106        0      500    X                                                     X
Kimberly-Clark Corp.           COM      494368103     3179       55    X                                                     X
Kinross Gold Corporation       COM      496902206     3279      300    X                                                     X
Kohl's Corporation             COM      500255104     5301      100    X                                                     X
Krispy Kreme Doughnuts, Inc.   COM      501014104     1796      200    X                                                     X
Kroger Company                 COM      501044101    10180      500    X                                                     X
LSI Logic                      COM      502161102     5780      500    X                                                     X
Labor Ready Incorporated       COM      505401208    11975      500    X                                                     X
Las Vegas Sands Corp           COM      517834107    33996      600    X                                                     X
Leucadia National              COM      527288104    37586      630    X                                                     X
Libbey Inc.                    COM      529898108    14160     2000    X                                                     X
Liberty Global C               COM      530555309    15168      768    X                                                     X
Liberty Global INC COM SER A   COM      530555101    10092      493    X                                                     X
Liberty Media Corp. CL B       COM      530718204    22688     2750    X                                                     X
Liberty Media Corp. SR A       COM      530718105    87297    10633    X                                                     X
Lincoln National Corp.         COM      534187109   125885     2306    X                                                     X
Liz Clairborne, Inc.           COM      539320101    14138      345    X                                                     X
Loews Corp.                    COM      540424108    20240      200    X                                                     X
Lowes Companies                COM      548661107    25776      400    X                                                     X
Lucent Technologies            COM      549463107    18080     5928    X                                                     X
MDU Resources Group, Inc.      COM      552690109    10035      300    X                                                     X
MPTV Incorporated              COM      553424409        0    20000    X                                                     X
Macquarie Infrastructure CompanCOM      55607X108     6500      200    X                                                     X
Manhattan Scientifics Inc.     COM      563122100       50     1000    X                                                     X
Manulife Fin Corp              COM      56501r106    97356     1551    X                                                     X
Mariner Energy Inc.            COM      56845t305    32898     1604    X                                                     X
Marvell Technology Group       COM      G5876H105    18935      350    X                                                     X
Matria Healthcare Inc.         COM      576817209  5883610   154995    X                                                     X
Maverick Tube Corporation      COM      577914104    11923      225    X                                                     X
McDonalds Corp.                COM      580135101    41568     1210    X                                                     X
McGraw-Hill Companies, Inc.    COM      580645109   228751     3970    X                                                     X
Medco Health Solutions, Inc.   COM      58405u102    19512      341    X                                                     X
Medtronic, Inc.                COM      585055106    68919     1358    X                                                     X
Mellon Financial Corp.         COM      585509102    44571     1252    X                                                     X
Merck & Co., Inc.              COM      589331107    26352      748    X                                                     X
Mesabi Trust                   COM      590672101    34440     1500    X                                                     X
Micro Component Tech           COM      59479Q100      960     2000    X                                                     X
Microsoft Corp.                COM      594918104   805770    29613    X                                                     X
Microwave Filter Co. Inc.      COM      595176108      155      100    X                                                     X
Monaco Coach Corp.             COM      60886R103     6030      450    X                                                     X
Moody's Corporation            COM      615369105    42876      600    X                                                     X
Morgan Stanley                 COM      617446448    47115      750    X                                                     X
Motorola, Inc.                 COM      620076109    22910     1000    X                                                     X
NICE-Systems Ltd. ADR          COM      653656108  8460022   166013    X                                                     X
NS Group, Inc.                 COM      628916108    10357      225    X                                                     X
Nabors Industries LTD          COM      G6359F103  4681690    65405    X                                                     X
Nano-Proprietary Inc.          COM      63007x108     5980     2600    X                                                     X
Natl Oilwell Varco             COM      637071101  3990188    62230    X                                                     X
Neenah Paper Inc.              COM      640079109    16408      501    X                                                     X
Nevada Gold & Casinos Inc.     COM      64126Q206     9390     1000    X                                                     X
New Plan Excel Realty Trust    COM      648053106    23346      900    X                                                     X
Newell Rubbermaid Inc.         COM      651229106     5038      200    X                                                     X
Nisource Inc.                  COM      629140104     1597       79    X                                                     X
Noble Affiliates               COM      654894104    17568      400    X                                                     X
Nokia Corp.                    COM      654902204     2072      100    X                                                     X
Norfolk Southern               COM      655844108    97326     1800    X                                                     X
Nortel Networks Corp.          COM      656568102    30653    10050    X                                                     X
Northern Orion Resources       COM      665575106     4520     1000    X                                                     X
Novell                         COM      670006105    11520     1500    X                                                     X
OGE Energy Corp.               COM      670837103     1914       66    X                                                     X
Occidental Petroleum           COM      674599105   120445     1300    X                                                     X
Omranco Pete Corp              COM      68212p105        0     1000    X                                                     X
Onstream Media Corporation     COM      682875109      592      533    X                                                     X
Orbital Sciences Corp.         COM      685564106     4746      300    X                                                     X
Otter Tail Power               COM      689648103    11476      400    X                                                     X
PG^E Corp.                     COM      69331C108    29136      749    X                                                     X
PIMCO High Income Fund         COM      722014107    11303      750    X                                                     X
Paccar                         COM      693718108    21144      300    X                                                     X
Palatin Tech Inc.              COM      696077304     1365      500    X                                                     X
Pan American Silver Corp       COM      697900108     2540      100    X                                                     X
Paychex Inc.                   COM      704326107    42160     1012    X                                                     X
Peabody Energy Corp            COM      704549104    30246      600    X                                                     X
PepsiCo, Inc.                  COM      713448108    78017     1350    X                                                     X
PerkinElmer, Inc.              COM      714046109    85079     3625    X                                                     X
Perrigo Company                COM      714290103    11417      700    X                                                     X
Pfizer, Inc.                   COM      717081103   179150     7189    X                                                     X
Photomedex Inc.                COM      719358103    10117     5297    X                                                     X
Pinnacle Airlines              COM      723443107      666      100    X                                                     X
Pinnacle West                  COM      723484101     3910      100    X                                                     X
Plug Power Inc.                COM      72919P103    10080     2016    X                                                     X
Potlatch Corp.                 COM      737628107    42840     1000    X                                                     X
Previo Inc.                    COM      74138B105        8      125    X                                                     X
Primus Telecommunications GroupCOM      741929103      308      400    X                                                     X
Procter & Gamble Co.           COM      742718109  6893470   119616    X                                                     X
Professional Trans GP LTD      COM      742963101        0     1500    X                                                     X
Progress Energy, Inc.          COM      743263105     8796      200    X                                                     X
Puget Sound Energy, Inc.       COM      745310102    27322     1290    X                                                     X
Qualcomm Inc.                  COM      747525103    35427      700    X                                                     X
Quality Systems, Inc.          COM      747582104    23170      700    X                                                     X
Questar Corp.                  COM      748356102   117124     1672    X                                                     X
Quiksilver, Inc.               COM      74838C106   171587    12380    X                                                     X
R.H. Donnelley Corporation     COM      74955W307     3494       60    X                                                     X
Regi US INC.                   COM      758943104     3900     5000    X                                                     X
Renaissance GLF New            COM      75966T308        0      300    X                                                     X
Rentech Inc.                   COM      760112102     4350     1000    X                                                     X
Royal Caribbean Cr             COM      v7780t103    46222     1100    X                                                     X
Royal Dutch Shell A            COM      780259206   154405     2480    X                                                     X
Samaritan Pharmaceuticals, Inc.COM      79586q108    15620    22000    X                                                     X
SanDisk Corporation            COM      80004C101    46016      800    X                                                     X
Sanofi Aventis                 COM      80105n105    11863      250    X                                                     X
Santarus, Inc.                 COM      802817304     3735      500    X                                                     X
Scana Corp.                    COM      80589M102     7848      200    X                                                     X
Schlumberger Ltd.              COM      806857108  1156470     9137    X                                                     X
Scottish Annunity & Life HoldinCOM      G7885T104     2481      100    X                                                     X
Scotts Co. Cl A                COM      810186106   107307     2345    X                                                     X
Sears Holdings Corporation     COM      812350106     4087       31    X                                                     X
Sempra Energy                  COM      816851109    36796      792    X                                                     X
Shuffle Master, Inc.           COM      825549108  3969963   111079    X                                                     X
Silicon Graphics Inc.          COM      827056102        6       13    X                                                     X
Silverzipper.com Inc.          COM      828529107        0      450    X                                                     X
Sirius Satellite Radio Inc.    COM      82966U103     2535      500    X                                                     X
SkyWest Inc.                   COM      830879102    14635      500    X                                                     X
Smurfit-Stone Container CorporaCOM      832727101     3393      250    X                                                     X
Sonic Corp.                    COM      835451105     7904      225    X                                                     X
Southern Co.                   COM      842587107    57479     1754    X                                                     X
Southern Copper Corporation    COM      84265V105    16896      200    X                                                     X
Southmark Corp. New            COM      844544809        0      353    X                                                     X
Spherion Corp.                 COM      848420105    10400     1000    X                                                     X
Starbucks Corp.                COM      855244109    30104      800    X                                                     X
State Street Boston Corp.      COM      857477103    36258      600    X                                                     X
Statoil ASA ADR                COM      85771P102     2848      100    X                                                     X
Stericycle, Inc                COM      858912108  7295387   107888    X                                                     X
Streamline.com Inc             COM      863239109        0      100    X                                                     X
Sun Microsystems               COM      866810104    13338     2600    X                                                     X
Suncor Energy Inc.             COM      867229106  6396750    83053    X                                                     X
Susquehanna Bancshares         COM      869099101    48860     1896    X                                                     X
Symantec Corp.                 COM      871503108     1885      112    X                                                     X
Symbol Technologies, Inc.      COM      871508107      698       66    X                                                     X
TXU Corp.                      COM      873168108   120852     2700    X                                                     X
Taiwan Semiconductor MFG Co    COM      874039100     2847      283    X                                                     X
Target Corporation             COM      87612E106    50970      980    X                                                     X
Tarragon Realty Investors, Inc.COM      876287103    29850     1500    X                                                     X
Telecom Corp of New Zealand    COM      879278208     2732      100    X                                                     X
Tellabs, Inc.                  COM      879664100     3975      250    X                                                     X
Telstra Corporation            COM      87969n204     1341      100    X                                                     X
Tenfold Corp                   COM      88033a103       59      198    X                                                     X
Tesco Corporation              COM      88157k101     1904      100    X                                                     X
Tetra Tech Inc.New             COM      88162G103     3341      175    X                                                     X
Texas Instruments              COM      882508104  2117861    65225    X                                                     X
The Directv Group              COM      25459L106      197       12    X                                                     X
The SCO Group, Inc.            COM      78403A106     6090     1400    X                                                     X
Thermo Electron                COM      883556102   116463     3140    X                                                     X
Thornburg MTG Inc              COM      885218107     2706      100    X                                                     X
Tibco Software, Inc.           COM      88632Q103    10032     1200    X                                                     X
Tiffany & Co.                  COM      886547108     1051       28    X                                                     X
Time Warner Inc.               COM      887317105    67160     4000    X                                                     X
Total S.A. France              COM      89151E109    52692      400    X                                                     X
TreeHouse Foods Inc.           COM      89469A104      531       20    X                                                     X
Tristar Oil & Gas LTD          COM      89677A102      576       83    X                                                     X
Tyler Technologies, Inc.       COM      902252105     7590      690    X                                                     X
Tyson Foods, Inc.              COM      902494103     1374      100    X                                                     X
UAL Corporation                COM      902549807     3554       89    X                                                     X
UCN Inc                        COM      902636109       49       20    X                                                     X
US Bancorp                     COM      902973304    61000     2000    X                                                     X
US Worldlink, Inc.             COM      91274A105       13      500    X                                                     X
USX-Marathon Group Inc.        COM      565849106    15234      200    X                                                     X
Unico Inc. (Ariz.)             COM      904622107       15    15000    X                                                     X
Union Pacific Corp.            COM      907818108   278930     2988    X                                                     X
United Technologies Corp.      COM      913017109    14493      250    X                                                     X
UnitedHealth Group Inc.        COM      91324P102    31840      570    X                                                     X
Univision Communication Inc.   COM      914906102      793       23    X                                                     X
Usana Inc.                     COM      90328M107    70924     1700    X                                                     X
VCA Antech, Inc.               COM      918194101   232682     8170    X                                                     X
VMH Videomoviehouse Com        COM      91828M100       87     3000    X                                                     X
Vail Resorts Inc.              COM      91879Q109     7644      200    X                                                     X
Valero Energy Corp New         COM      91913Y100    23912      400    X                                                     X
ValueClick Inc.                COM      92046N102  6853412   405048    X                                                     X
Varian Medical Systems         COM      92220P105 12941398   230438    X                                                     X
Vencor as Kindred Healthcare   COM      92260r102        0       10    X                                                     X
Ventas, Inc.                   COM      92276F100     8295      250    X                                                     X
VeriSign, Inc.                 COM      92343E102      792       33    X                                                     X
Verizon Communications         COM      92343V104    24932      732    X                                                     X
Vip Comlink                    COM      918239104        1    10000    X                                                     X
WGL Holdings Inc.              COM      92924f106     7269      239    X                                                     X
WPS Resources Corp.            COM      92931B106    59064     1200    X                                                     X
Wachovia Corp.                 COM      929903102   621538    11089    X                                                     X
Wal-Mart Stores                COM      931142103    39020      826    X                                                     X
Walgreen Co.                   COM      931422109    17252      400    X                                                     X
Walt Disney Company            COM      254687106   870001    31194    X                                                     X
Waste Management Inc           COM      94106L109     6495      184    X                                                     X
Watson Pharmaceuticals, Inc.   COM      942683103      575       20    X                                                     X
WebSideStory Inc.              COM      947685103    36529     2125    X                                                     X
Webb Interactive Services Inc. COM      94748P104       22      100    X                                                     X
Weingarten Realty Investors SBICOM      948741103   102894     2525    X                                                     X
Wells Fargo & Co.              COM      949746101   467017     7312    X                                                     X
West Marine, Inc.              COM      954235107     7505      500    X                                                     X
Westamerica Bancorporation     COM      957090103   142832     2751    X                                                     X
Western Gas Resources Inc.     COM      958259103     9650      200    X                                                     X
Williams Companies, Inc.       COM      969457100    31016     1450    X                                                     X
Wintrust Financial Corp.       COM      97650W108     8726      150    X                                                     X
Wipro LTD                      COM      97651M109    14870     1000    X                                                     X
Wm. Wrigley Jr. Co.            COM      982526105    40320      630    X                                                     X
Worldgate Communications Inc.  COM      98156L307      200      100    X                                                     X
XTO Energy Inc.                COM      98385X106    11590      266    X                                                     X
Xcel Energy, Inc.              COM      98389B100    13504      744    X                                                     X
Xenoport Inc.                  COM      98411C100     2264      100    X                                                     X
Yum! Brands, Inc.              COM      988498101     5863      120    X                                                     X
Zimmer Holdings, Inc.          COM      98956P102    20753      307    X                                                     X
Zions Bancorp                  COM      989701107    45502      550    X                                                     X
Zoran Corporation              COM      98975f101    10940      500    X                                                     X
Zweig Total Return Fund Inc.   COM      989837109    24485     5049    X                                                     X
Ampal Amer Israel              COM      032015208      274       15    X                                                     X
Aquila Preferred               COM      03840P300    12510      500    X                                                     X
Cabcco Aol Time Warner 7 5/8% 0COM      126794205    26000     1000    X                                                     X
Consolidated Edison Inc        COM      209115203    50800     2000    X                                                     X
Marshall & Ilsley Corporation  COM      571834209    26510     1000    X                                                     X
Ml Capital Trust               COM      59021g204    25780     1000    X                                                     X
Public Svc Elec & Gas Co Pfd   COM      744567603     2275       25    X                                                     X
Royal Bk Scot Pr G 7.40%       COM      780097887    46720     2000    X                                                     X
Wells Fargo Cap Iv 7           COM      94976y207    44153     1750    X                                                     X
Wells Fargo Cap. Tr Vii        COM      94979B204    23730     1000    X                                                     X
Zions Cap Tr B 8.00% 09/01/32  COM      989703202    26110     1000    X                                                     X
BLDRS Asia Index Fund          COM      09348r102    20264      225    X                                                     X
BLDRS Emerging Markets Index FuCOM      09348r300    36198      280    X                                                     X
Diamonds Trust Ser 1           COM      252787106   548647     4929    X                                                     X
MS India Inv FD                COM      61745c105   273500     5470    X                                                     X
Nasdaq 100 Index               COM      631100104   555614    13251    X                                                     X
PS Dynamic Small Cap Value     COM      73935x864    25215     1500    X                                                     X
PS Water Resource              COM      73935x575    27120     1500    X                                                     X
PS Zacks Micro Cap             COM      73935x740    25875     1500    X                                                     X
Standard & Poors Depository RecCOM      78462F103  1012414     7798    X                                                     X
Turkish Invest Fund            COM      900145103   176496     6935    X                                                     X
iShares DJ CSS Index Fund      COM      464287580   123700     2000    X                                                     X
iShares Dow Jones Select DivideCOM      464287168  3373197    53799    X                                                     X
iShares FTSE/Xinhua China 25 InCOM      464287184   186071     2505    X                                                     X
iShares Goldman Sachs Natural RCOM      464287374   897511     9352    X                                                     X
iShares MSCI Australia Index FuCOM      464286103     1201       60    X                                                     X
iShares MSCI Canada            COM      464286509   412603    17461    X                                                     X
iShares MSCI EAFE Index Fund   COM      464287465   504169     7766    X                                                     X
iShares MSCI Emerging Market InCOM      464287234   730323     7377    X                                                     X
iShares MSCI Germany Index FundCOM      464286806     2305      100    X                                                     X
iShares MSCI Japan             COM      464286848   436680    30325    X                                                     X
iShares MSCI Pacific ex-Japan ICOM      464286665  1289206    12284    X                                                     X
iShares MSCI SO Korea          COM      464286772   181702     3895    X                                                     X
iShares MSCI South Africa      COM      464286780   196437     1708    X                                                     X
iShares Nasdaq Biotechnology InCOM      464287556   828578    10058    X                                                     X
iShares Russell 1000 Index FundCOM      464287622   199770     2826    X                                                     X
iShares Russell 1000 Value IndeCOM      464287598   127431     1743    X                                                     X
iShares Russell 2000 Index FundCOM      464287655    90860     1196    X                                                     X
iShares Russell Midcap Index FuCOM      464287499  1437280    15182    X                                                     X
iShares S^P 500 Index Fund     COM      464287200    13512      104    X                                                     X
iShares S^P/TOPIX150           COM      464287382   159273     1275    X                                                     X
iShares TR Cohen & Steers RealtCOM      464287564    79028      920    X                                                     X
iShares TR S^P Midcap 400 IndexCOM      464287507    15063      190    X                                                     X
iShares TR SP Latin America    COM      464287390   224352     1600    X                                                     X
iShares GS $ InvesTop CorporateCOM      464287242   817064     7759    X                                                     X
iShares Lehman 1-3 Yr          COM      464287457   100147     1252    X                                                     X
iShares TR Treas Inflation     COM      464287176   918124     9122    X                                                     X
Aeterna Zentaris Inc.          COM      007979990   300949    45392    X                                                     X
Exxon Mobil Corp.              COM      30231g102    36516      600    X                                                     X
General Electric               COM      369604103 24754282   711739    X                                                     X
Johnson & Johnson              COM      478160104   124658     2105    X                                                     X
Valspar Corp.                  COM      920355104  7869373   282360    X                                                     X
Correctional Properties Trust  COM      15235H107     7014      280    X                                                     X
DWS RREEF Real Estate Fund     COM      81119Q100    12052      530    X                                                     X
Delaware Group Div and Income FCOM      245915103    22176     1800    X                                                     X
Eaton Vance Enhanced Equity IncCOM      278277108    14146      750    X                                                     X
ING Clarion GI Rl Est Fd       COM      44982G104    15139      825    X                                                     X
Northern Border Partners LP    COM      664785102    23960      500    X                                                     X
Archstone-Smith TR             COM      039583109    17947      368    X                                                     X
DNP Select Income Fund Inc.    COM      23325p104     9666      925    X                                                     X
Eaton Vance Floating Rate IncomCOM      278279104    90400     5000    X                                                     X
Evergreen Income Advantage     COM      30023Y105    74359     5300    X                                                     X
HYT Corporate HI YLD           COM      219932100    20704     1667    X                                                     X
MFS Interm Income SBI          COM      55273c107    24640     4000    X                                                     X
Montgomery St Icm              COM      614115103     2047      120    X                                                     X
Muni Yield Quality             COM      626302103    45243     3131    X                                                     X
Muniholding Fund Inc.          COM      62625H107   115360     7000    X                                                     X
Muniyield Cali Insured FD Inc. COM      62629l104    54242     3700    X                                                     X
Nicholas Applegate Conv & IncomCOM      65370g109   102405     6667    X                                                     X
Nuveen Cal. Qual Income Muni   COM      670985100    85400     5600    X                                                     X
Nuveen NY Investment Quality MuCOM      67062x101    29628     2069    X                                                     X
Nuveen NY Muni Value Fund      COM      67062m105    40215     4211    X                                                     X
Nuveen NY Quality Income Muni FCOM      670986108    30341     2081    X                                                     X
Nuveen NY Select Quality Muni FCOM      670976109    30660     2090    X                                                     X
Pimco Corporate Income FD      COM      72200u100      569       37    X                                                     X
Pimco Mun Inc FD III           COM      72201a103    15393     1045    X                                                     X
Pioneer High Income            COM      72369h106   186900    11125    X                                                     X
Putnam Master Intern'l Inc. TR COM      746909100    17429     2900    X                                                     X
Templeton Global Income Fund   COM      880198106    81408     9455    X                                                     X
AIM Global Health Care Fund B  COM      00141t205     2754   96.593    X                                                     X
Allianz FDS Multi-Manager GLBL COM      018919498     3955       98    X                                                     X
American Century Quantitative ECOM      02507M600     1950   80.821    X                                                     X
American Century Select Fund   COM      025083502     1801    47.32    X                                                     X
American Funds Cap Income BuildCOM      140193400    23098  418.828    X                                                     X
American Funds Capital World G/COM      140543307    11110  289.477    X                                                     X
American Funds Growth FD       COM      399874403    37692 1176.414    X                                                     X
Artisan Intl. FD               COM      04314H204    45870   1638.2    X                                                     X
Calvert Tax Free Reserve Class COM      131620205    45990 4371.669    X                                                     X
Clipper Fund                   COM      188850101    14176  158.478    X                                                     X
Columbia Lifegoal Balanced GrowCOM      19765h784    11157  944.721    X                                                     X
Columbia Young Investors Z     COM      19765n351      392   32.062    X                                                     X
Credit Suisse Large Cap.       COM      22540y825    72419   3642.8    X                                                     X
Diamond Hill Focus Long A      COM      25264s403    41141 2376.708    X                                                     X
Dodge Cox Stock Fund           COM      256219106   300148 2087.118    X                                                     X
Dreyfus Small Company Value    COM      26200C403     3772  142.445    X                                                     X
Eastern European Equity        COM      981477615    21162  873.744    X                                                     X
Eaton Vance Balanced Fund ClassCOM      277905865     7306 1004.889    X                                                     X
Excelsior Value & RestructuringCOM      300722782   427911 8669.181    X                                                     X
FPA New Income Fund            COM      302544101    15333 1404.164    X                                                     X
Fidelity - Equity Income Fund ICOM      316145101      362   15.277    X                                                     X
Fidelity Advisor Equity Income COM      315808402    22243  763.317    X                                                     X
Fidelity Advisor Intermed Bond COM      315809806    11537 1079.216    X                                                     X
Fidelity Canada Fund           COM      315910307     2997   65.138    X                                                     X
Fidelity Contrafund            COM      316071109    94216 1415.934    X                                                     X
Fidelity Disciplined Equity    COM      316066208      229    7.911    X                                                     X
Fidelity Diversified Intl      COM      315910802    33391  935.839    X                                                     X
Fidelity Dividend Growth Fund  COM      316389402    67210 2228.433    X                                                     X
Fidelity Fifty                 COM      31617f106     2680  110.304    X                                                     X
Fidelity Growth Company        COM      316200104    19854   292.02    X                                                     X
Fidelity Low Price Stock AD    COM      316345305   110651 2494.395    X                                                     X
Fidelity New Millennium Fund   COM      316200302    82580 2117.968    X                                                     X
Fidelity Select Banking        COM      316390640      259    7.024    X                                                     X
Fidelity Select Multimedia     COM      316390681    40905  844.979    X                                                     X
Fidelity Spartan Money Market  COM      316413103       69     68.6    X                                                     X
Fidelity Strategic Income Fund COM      31638R303    56547 5421.571    X                                                     X
Fidelity US Bond Index         COM      315911107    68189 6360.892    X                                                     X
Fidelity Value Fund            COM      316464106    47055  581.645    X                                                     X
First Eagle Sogen Global Fund CCOM      32008f507    40490   893.23    X                                                     X
Franklin Income Fund CL C      COM      353496805    36161 14581.09    X                                                     X
Franklin Templeton Founding A  COM      35472p844    43532 3364.172    X                                                     X
Guinness Atkinson Global InnovaCOM      46129X601     6040  368.055    X                                                     X
Harbor Cap Appr. Fund Instl. ClCOM      411511504    24847  751.345    X                                                     X
Henderson Intl Opportunities C COM      425067824     6078  293.333    X                                                     X
Hodges Fund A Series           COM      742935109    21322  831.601    X                                                     X
Janus Fund Inc                 COM      471023101    33483 1243.326    X                                                     X
Janus Small Cap Value Inv. SharCOM      471023572     7186  243.413    X                                                     X
Leuthold Core Investment       COM      527289102    47343   2659.7    X                                                     X
Longleaf Partners Small Cap FunCOM      543069207    25233  884.761    X                                                     X
Managers Fremont Micro Cap FundCOM      561717661      139    3.854    X                                                     X
Marsico Focus Fund             COM      573012101    34990 1841.557    X                                                     X
Mutual Qualified Fund CL Z     COM      628380206    12754  597.932    X                                                     X
Neuberger & Berman Genesis     COM      641224100    18130  501.098    X                                                     X
Oakmark Fund                   COM      413838103    31830  750.006    X                                                     X
Oppenheimer Capital AppreciatioCOM      68379A107     7040  156.892    X                                                     X
Oppenheimer Global Fund A      COM      683924104    33615  469.223    X                                                     X
Oppenheimer Main Street Small CCOM      68381f102    46005 1977.843    X                                                     X
PIMCO Total Return Instl       COM      693390700    99203 9603.378    X                                                     X
Pioneer Hig Yld FDC            COM      72369B307     3541  318.438    X                                                     X
Pioneer Mid Cap Value Fund ClasCOM      72375Q108    12522  512.581    X                                                     X
RS Value Fund                  COM      74972h309    21128  823.367    X                                                     X
Royce Low Priced Stock Fund    COM      780905808    38077 2118.938    X                                                     X
Royce Opportunity Fund         COM      780905832     3699  257.981    X                                                     X
Schwab S^P 500                 COM      808509707    85989 4299.455    X                                                     X
Schwab Yield Plus Select SharesCOM      808525208    50000 5175.983    X                                                     X
Scudder Growth & Income Fund   COM      460965882     8013   358.19    X                                                     X
Style Select Focused Growth andCOM      86703y617     2574      150    X                                                     X
T. Rowe Price Blue Chip Growth COM      77954Q106     8854  263.197    X                                                     X
T. Rowe Price Dividend Growth  COM      779546100     1778   75.289    X                                                     X
T. Rowe Price Mid Cap Growth FuCOM      779556109    35323  614.206    X                                                     X
T. Rowe Price Mid-Cap Value    COM      77957y106    20247  817.056    X                                                     X
TIAA-CREF Institutional Growth COM      87244w672    15389 1287.787    X                                                     X
TIAA-CREF Institutional Intl EqCOM      87244w748    19554 1479.085    X                                                     X
TIAA-CREF Institutional Mid CapCOM      87244w631    28977 1657.746    X                                                     X
TIAA-CREF Institutional Small CCOM      87244w565    29547 1806.025    X                                                     X
TIAA-CREF Institutional Value ICOM      87244w656    15298  1014.44    X                                                     X
TIAA-CREF Mid-Cap Growth Fund  COM      87244w888     5364  292.814    X                                                     X
TIAA-CREF Mid-Cap Value Fund   COM      87244w854     5591  310.072    X                                                     X
TIAA-CREF Small-Cap Equity FundCOM      87244w821    10215  619.816    X                                                     X
Templeton Smaller Cos Growth FuCOM      88022L102     2099      224    X                                                     X
Templeton World Fund CL A      COM      880196100     2339      125    X                                                     X
The Growth Fund of America B   COM      399874205     3931  125.995    X                                                     X
Thornburg Core Growth C        COM      885215574     6527  414.651    X                                                     X
Tweedy Browne Global Value FundCOM      901165100    35177 1231.676    X                                                     X
USAA Income Fund               COM      903288207    39562 3299.577    X                                                     X
USAA S^P 500 Index Fund        COM      903288884    24427 1259.111    X                                                     X
USAA Tax Exempt Int-term Fund  COM      903289205    53103 4062.985    X                                                     X
Unique 2018 Portfolio          COM      NH2018909    17976 1327.646    X                                                     X
Vanguard Equity Income Fund IncCOM      921921102   188518 7937.587    X                                                     X
Vanguard Index Trust 500 Port  COM      922908108    53033  444.762    X                                                     X
Vanguard Index Trust Extended MCOM      922908207    65032 1730.023    X                                                     X
Vanguard Intl. Growth          COM      921910204     4464  193.317    X                                                     X
Vanguard Life Strategy         COM      921909503     4439  201.204    X                                                     X
Vanguard Total Intl Stock IndexCOM      921909602     2975  190.457    X                                                     X
Vanguard Total Stock Market IndCOM      922908306    30105  956.023    X                                                     X
Vanguard/Windsor FD #22        COM      922018106     8940  497.471    X                                                     X
Wasatch Global Technology Fund COM      936793306     9034  601.892    X                                                     X
Wasatch Growth Fund            COM      936772201    53665 1209.759    X                                                     X
Wasatch Heritage Growth Fund   COM      936793603     6994  597.809    X                                                     X
Wasatch International Growth FuCOM      936793405    17419  780.072    X                                                     X
Wasatch Micro Cap Fund         COM      936772508   13694319152.849    X                                                     X
Wasatch Small Cap Growth Fund  COM      936772102    61699 1545.176    X                                                     X
Wasatch Small Cap Value Fund   COM      936793207    9339116736.654    X                                                     X
Wasatch Ultra Growth           COM      936772409    62150  2331.19    X                                                     X
Alliance Emerging Market Debt FCOM      01859m101    26229 2990.774    X                                                     X
Davis New York Venture Fund ClaCOM      239080104     5971   171.69    X                                                     X
Eaton Vance Strategic Income FuCOM      277911772    38130 4796.163    X                                                     X
Federated Strategic Income FundCOM      31417p502   112060    13000    X                                                     X
Federated US Govt Security FundCOM      31428M100    95707 9229.177    X                                                     X
Franklin Fed Interm T/F A      COM      354723710   158734 14072.12    X                                                     X
Franklin Federal T/F Inc A     COM      353519101    53835 4475.024    X                                                     X
Franklin High Yield Tax-Free InCOM      354723702    52255  4856.39    X                                                     X
Franklin Tn Muni Bond Fund CL ACOM      354025405   106223 9458.857    X                                                     X
Franklin US Govt Securites Fnd COM      353496607    10892 1696.566    X                                                     X
MFS High Income Class B        COM      552984205    10997 2863.765    X                                                     X
Nuveen Arizona Municipal Bond FCOM      67065l104   24193822759.934    X                                                     X
Oppenheimer Strategic Income FuCOM      68380K102    22336 5318.119    X                                                     X
Painewebber Pace Govt Sec. FixeCOM      561657206     9808  769.828    X                                                     X
Pimco High Yield Ins.          COM      693390841       10    1.018    X                                                     X
Putnam Arizona Tax Exempt IncomCOM      746441104    9646510554.112    X                                                     X
Putnam Tax Exempt Income CL A  COM      746870104    22345 2565.391    X                                                     X
Putnam US Govt Income Trust    COM      746885102    43969 3379.622    X                                                     X
Vanguard Bond Index Fund TBMP  COM      921937108    12584 1274.938    X                                                     X
Advisor's Disciplined Income TrCOM      30267q347   250644      297    X                                                     X
Bp Prudhoe Bay Royalty Trust   COM      055630107    17673      250    X                                                     X
Corporate Income Fund Series 21COM      219906849       10       10    X                                                     X
Equity Office Properties Trust COM      294741103     3526      105    X                                                     X
Ft Advisors Disciplined Income COM      30267J368   255856      262    X                                                     X
Inland Retail Real Estate      COM      45746n103    86235 7839.561    X                                                     X
Units Equity Inc. Fund S^p 500 COM      294700604   175758   448363    X                                                     X
Van Kampen Unit 459 Great Intl COM      92116v471    47957     3595    X                                                     X
Van Kampen Unit Trust 459 GreatCOM      92116v455    11392      854    X                                                     X
Wells Reit                     COM      949906101    22152 2546.257    X                                                     X
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