Marshwinds Advisory

Marshwinds Advisory Company as of March 31, 2012

Portfolio Holdings for Marshwinds Advisory Company

Marshwinds Advisory Company holds 0 positions in its portfolio as reported in the March 2012 quarterly 13F filing

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                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
3M Company (.94)               COM              88579Y101     2249    25212 SH       SOLE                                      25212
A T & T Corp (.62)             COM              001957505     4793   153470 SH       SOLE                                     153470
AFLAC Inc.                     COM              001055102      271     5900 SH       SOLE                                       5900
AGL Resources                  COM              654086107      826    21048 SH       SOLE                                      21048
Abbott Labs (.95)              COM              002824100     1472    24022 SH       SOLE                                      24022
Alcatel Lucent  (1.24)         COM                              28    12525 SH       SOLE                                      12525
Allergan, Inc. (1.57)          COM              018490102      305     3200 SH       SOLE                                       3200
Ameren Corp (.56)              COM              023608102      556    17075 SH       SOLE                                      17075
American Express Co. (1.32)    COM              025816109     1011    17475 SH       SOLE                                      17475
Amgen (.81)                    COM              031162100     2753    40502 SH       SOLE                                      40502
Analog Devices                 COM                            1163    28798 SH       SOLE                                      28798
Apple Computer                 COM              037833100      576      961 SH       SOLE                                        961
Applied Materials, Inc         COM                             739    59380 SH       SOLE                                      59380
Archer Daniel Midland (.64)    COM              039483102      484    15288 SH       SOLE                                      15288
Autodesk Inc (.78)             COM              052769106     1289    30455 SH       SOLE                                      30455
Automatic Data Processing (1.1 COM              053015103     1147    20775 SH       SOLE                                      20775
BB^T Corporation               COM              054937107      458    14598 SH       SOLE                                      14598
Bankamerica Corp               COM              060505104      551    57597 SH       SOLE                                      57597
Bemis Corp (1.25)              COM              081437105     1148    35555 SH       SOLE                                      35555
Bristol Myers Squibb (1.02)    COM              110122108     1774    52550 SH       SOLE                                      52550
CBS, Inc. (.87)                COM              023794098     1967    58010 SH       SOLE                                      58010
CSX                            COM              126408103      302    14021 SH       SOLE                                      14021
Cardinal Health Systems, Inc.  COM              14149Y108      682    15827 SH       SOLE                                      15827
Caterpillar, Inc.              COM              149123101      826     7756 SH       SOLE                                       7756
Centurylink, Inc.              COM                             615    15917 SH       SOLE                                      15917
Chevron Texaco (.53)           COM              166764100     2416    22533 SH       SOLE                                      22533
Cisco Systems (1.25)           COM              17275R102     1328    62777 SH       SOLE                                      62777
Coca Cola Company (1)          COM              191216100     6041    81623 SH       SOLE                                      81623
Comerica Inc (1.147)           COM              200340107      590    18241 SH       SOLE                                      18241
Con Edison, Inc. (.67)         COM              209115104     2492    42648 SH       SOLE                                      42648
ConAgra                        COM              205887102      374    14248 SH       SOLE                                      14248
ConnocoPhillips Energy (.70)   COM              20825c104     4468    58779 SH       SOLE                                      58779
DTE Enterprise (.58)           COM              233331107     1124    20433 SH       SOLE                                      20433
Deere & Co (1)                 COM              244199105      809    10000 SH       SOLE                                      10000
Dell Computer Corp (.93)       COM              247025109     1643    98981 SH       SOLE                                      98981
DuPont de Nemours, Inc. (1.15) COM              263534109     4041    76383 SH       SOLE                                      76383
Duke Energy (.48)              COM              26441c105      670    31887 SH       SOLE                                      31887
Eaton Corp                     COM                            1313    26350 SH       SOLE                                      26350
Eli Lilly                      COM              532457108     1781    44233 SH       SOLE                                      44233
Emerson Electric (.76)         COM              291011104      779    14924 SH       SOLE                                      14924
Exxon Mobil (.66)              COM              30231G102     2857    32945 SH       SOLE                                      32945
Fidelity National Info Service COM              31620M106      212     6387 SH       SOLE                                       6387
Fidelity Natl Financial Corp   COM              316326107      507    28141 SH       SOLE                                      28141
Frontier Communication         COM              35906a108      287    68729 SH       SOLE                                      68729
Gannett Co  (.90)              COM              364730101      164    10685 SH       SOLE                                      10685
General Dynamics Corp          COM              369550108     1104    15050 SH       SOLE                                      15050
General Electric (1)           COM              369604103     4065   202547 SH       SOLE                                     202547
General Mills                  COM              370334104      248     6286 SH       SOLE                                       6286
Global Access Corp New         COM                               7    11948 SH       SOLE                                      11948
Google, Inc. Cl A              COM              38259p508      258      403 SH       SOLE                                        403
Great Plains Energy Inc (.77)  COM              391164100     1053    51972 SH       SOLE                                      51972
H. J. Heinz (.82)              COM              423074103      246     4600 SH       SOLE                                       4600
Hershey, Inc. (.65)            COM              427866108     1093    17825 SH       SOLE                                      17825
Home Depot (1.28)              COM              437076102     1956    38875 SH       SOLE                                      38875
Honeywell, Inc. (1.3)          COM              438516106      890    14583 SH       SOLE                                      14583
Hubbell Inc. Cl B (.63)        COM                             348     4433 SH       SOLE                                       4433
Huntington Ingalls Industries  COM              421939307      500    12428 SH       SOLE                                      12428
Ingersoll-Rand (1.26)          COM              G4776G101     1116    27000 SH       SOLE                                      27000
Integry Energy Group, Inc (.92 COM                             841    15863 SH       SOLE                                      15863
Intel (1.23)                   COM              458140100     3409   121263 SH       SOLE                                     121263
Intl Bus Mach                  COM              459200101     1504     7206 SH       SOLE                                       7206
Intl Flavors and Fragrences (. COM              459506101      747    12750 SH       SOLE                                      12750
Intl Paper Co (.68)            COM              460146103      287     8176 SH       SOLE                                       8176
Intuit (1.22)                  COM              461202103     1910    31753 SH       SOLE                                      31753
John & John                    COM              478160104     1457    22086 SH       SOLE                                      22086
Johnson Control Inc. (.92)     COM              478366107      443    13625 SH       SOLE                                      13625
Key Corp (.88)                 COM              493267108      251    29525 SH       SOLE                                      29525
Kimberly Clark                 COM              494368103      532     7205 SH       SOLE                                       7205
Kraft Foods, Inc. Class A (1)  COM              50075N104     5221   137346 SH       SOLE                                     137346
LRAD Corp                      COM                              28    17900 SH       SOLE                                      17900
Laclede Group Inc. New (.66)   COM              505597104      351     9000 SH       SOLE                                       9000
Lee Enterprises (.71)          COM              523768109       44    34030 SH       SOLE                                      34030
Masco Corp (.91)               COM              574599106      453    33855 SH       SOLE                                      33855
McClatchy Newspapers, Inc. (.8 COM              579489105       38    13082 SH       SOLE                                      13082
Medtronic Inc                  COM              585055106      884    22547 SH       SOLE                                      22547
Merck Drug Company (.99)       COM              589331107     2968    77279 SH       SOLE                                      77279
Microsoft (1.19)               COM              594918104     3402   105468 SH       SOLE                                     105468
Nestle SA - Spons Adr For Reg  COM                             297     4725 SH       SOLE                                       4725
Newell Rubbermaid,Inc. (.87)   COM              651229106      733    41175 SH       SOLE                                      41175
Norfolk & Southern             COM              655844108      306     4650 SH       SOLE                                       4650
Northrop Grunman Corp          COM              666807102     1065    17438 SH       SOLE                                      17438
Nuveen Real Estate Fund        COM                             138    12200 SH       SOLE                                      12200
Oklahoma Gas & Electric        COM              670837103      334     6250 SH       SOLE                                       6250
Oracle Corp (1.34)             COM              68389x105     4425   151733 SH       SOLE                                     151733
PNC Finl Services Gp Inc.      COM              693475105      276     4287 SH       SOLE                                       4287
PPG Industries (.90)           COM              693506107     1600    16705 SH       SOLE                                      16705
Park Electrochemical Corp (.86 COM                            1080    35712 SH       SOLE                                      35712
Paychex                        COM              704326107      881    28430 SH       SOLE                                      28430
Pentair Inc                    COM                            2142    45000 SH       SOLE                                      45000
Pepco Holdings (.48)           COM              737679100      219    11578 SH       SOLE                                      11578
Pepsico (.75)                  COM              713448108     1417    21358 SH       SOLE                                      21358
Pfizer, Inc. (1.04)            COM              717081103     3404   150328 SH       SOLE                                     150328
Phillip Morris International   COM                             853     9629 SH       SOLE                                       9629
Proctor & Gamble (.59)         COM              742718109     1682    25019 SH       SOLE                                      25019
Progress Energy Inc (.49)      COM              743263105     1902    35812 SH       SOLE                                      35812
Protective Life Corp. (.89)    COM              743674103      347    11719 SH       SOLE                                      11719
Quest Dianostics (1.0)         COM              74834L100      578     9450 SH       SOLE                                       9450
R. R. Donnelley (.77)          COM              257867101      752    60685 SH       SOLE                                      60685
Raytheon Corp (1.0)            COM              755111507     1492    28269 SH       SOLE                                      28269
Regions Financial              COM              7591EP100      254    38589 SH       SOLE                                      38589
SCANA (.63)                    COM              80589M102      248     5432 SH       SOLE                                       5432
Sara Lee Corp (.56)            COM              803111103      539    25055 SH       SOLE                                      25055
Savannah BanCorp               COM              804748101       70    13559 SH       SOLE                                      13559
Sherwin Williams Co. Ohio (.91 COM              824348106      424     3900 SH       SOLE                                       3900
Snap On Tools (.82)            COM              833034101      475     7784 SH       SOLE                                       7784
Southern Company Inc. (.58)    COM              842587107      558    12411 SH       SOLE                                      12411
St. Jude Medical (1.08)        COM              790849103     2267    51173 SH       SOLE                                      51173
Stanley Black & Decker (1.05)  COM              854616109      870    11300 SH       SOLE                                      11300
Stryker Corp                   COM              863667101      932    16800 SH       SOLE                                      16800
Synovus Financial Corp.        COM              87161C105      144    70056 SH       SOLE                                      70056
Teleflex Inc                   COM              879369106      202     3300 SH       SOLE                                       3300
Tenet Healthcare Corp (.58)    COM              88033G100      181    34175 SH       SOLE                                      34175
Total Systems (.97)            COM              891906109     3711   160840 SH       SOLE                                     160840
U. S. Bancorp                  COM              902973304      449    14176 SH       SOLE                                      14176
UIL Holding Corp. (1.07)       COM              902748102      915    26313 SH       SOLE                                      26313
United Technology              COM              913017109      538     6487 SH       SOLE                                       6487
Universal Corp/VA (.88) (R2)   COM                             445     9550 SH       SOLE                                       9550
VF Corp (.90)                  COM              918204108     1019     6983 SH       SOLE                                       6983
Valspar                        COM                             676    14003 SH       SOLE                                      14003
Verizon Communication (.70)    COM              92343V104     2320    60696 SH       SOLE                                      60696
Wal-Mart Stores (1.03)         COM              931142103      459     7496 SH       SOLE                                       7496
Walgreen Drugs                 COM              931422109      230     6861 SH       SOLE                                       6861
Walt Disney (.92)              COM              254687106     1116    25485 SH       SOLE                                      25485
Weyerhaeuser Co.               COM              962166104      829    37837 SH       SOLE                                      37837