Marshwinds Advisory

Marshwinds Advisory Company as of Sept. 30, 2012

Portfolio Holdings for Marshwinds Advisory Company

Marshwinds Advisory Company holds 0 positions in its portfolio as reported in the September 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     2381    25763 SH       SOLE                                      25763
A T & T Corp (.62)             COM              001957505     5713   151551 SH       SOLE                                     151551
AFLAC Inc.                     COM              001055102      282     5900 SH       SOLE                                       5900
AGL Resources                  COM              654086107      965    23599 SH       SOLE                                      23599
Abbott Labs (.95)              COM              002824100     1647    24022 SH       SOLE                                      24022
Alcatel Lucent  (1.24)         COM                              14    12428 SH       SOLE                                      12428
Allergan, Inc. (1.57)          COM              018490102      293     3200 SH       SOLE                                       3200
Ameren Corp (.56)              COM              023608102      559    17125 SH       SOLE                                      17125
American Express Co. (1.32)    COM              025816109     1014    17826 SH       SOLE                                      17826
Amgen (.81)                    COM              031162100     3355    39803 SH       SOLE                                      39803
Analog Devices                 COM                            1116    28500 SH       SOLE                                      28500
Apple Computer                 COM              037833100      641      961 SH       SOLE                                        961
Applied Materials, Inc         COM                             708    63432 SH       SOLE                                      63432
Archer Daniel Midland (.64)    COM              039483102      416    15288 SH       SOLE                                      15288
Autodesk Inc (.78)             COM              052769106      992    29755 SH       SOLE                                      29755
Automatic Data Processing (1.1 COM              053015103     1219    20777 SH       SOLE                                      20777
BB^T Corporation               COM              054937107      480    14488 SH       SOLE                                      14488
Banco Bilbao Vizcaya Argentari COM                             247    31809 SH       SOLE                                      31809
Bankamerica Corp               COM              060505104      509    57598 SH       SOLE                                      57598
Bemis Corp (1.25)              COM              081437105     1111    35305 SH       SOLE                                      35305
Bristol Myers Squibb (1.02)    COM              110122108     1763    52251 SH       SOLE                                      52251
CSX                            COM              126408103      452    21797 SH       SOLE                                      21797
Cardinal Health Systems, Inc.  COM              14149Y108      667    17127 SH       SOLE                                      17127
Caterpillar, Inc.              COM              149123101      685     7956 SH       SOLE                                       7956
Centurylink, Inc.              COM                             635    15717 SH       SOLE                                      15717
Chevron Texaco (.53)           COM              166764100     2585    22179 SH       SOLE                                      22179
Cisco Systems (1.25)           COM              17275R102     1227    64278 SH       SOLE                                      64278
Coca Cola Company (1)          COM              191216100     6134   161731 SH       SOLE                                     161731
Comerica Inc (1.147)           COM              200340107      562    18092 SH       SOLE                                      18092
Con Edison, Inc. (.67)         COM              209115104     2542    42449 SH       SOLE                                      42449
ConAgra                        COM              205887102      386    13998 SH       SOLE                                      13998
ConnocoPhillips Energy (.70)   COM              20825c104     3354    58655 SH       SOLE                                      58655
D. E. Master Blenders 1753     COM              n2563n109      296    24555 SH       SOLE                                      24555
DTE Enterprise (.58)           COM              233331107     1204    20083 SH       SOLE                                      20083
Deere & Co (1)                 COM              244199105      825    10000 SH       SOLE                                      10000
Dell Computer Corp (.93)       COM              247025109      978    99227 SH       SOLE                                      99227
DuPont de Nemours, Inc. (1.15) COM              263534109     3810    75789 SH       SOLE                                      75789
Duke Energy (.48)              COM              26441c105     2684    41423 SH       SOLE                                      41423
Eaton Corp                     COM                            1250    26450 SH       SOLE                                      26450
Eli Lilly                      COM              532457108     2088    44038 SH       SOLE                                      44038
Emerson Electric (.76)         COM              291011104      725    15024 SH       SOLE                                      15024
Exxon Mobil (.66)              COM              30231G102     3008    32897 SH       SOLE                                      32897
Facebook, Inc                  COM                             466    21500 SH       SOLE                                      21500
Fidelity Natl Financial Corp   COM              316326107      602    28141 SH       SOLE                                      28141
Frontier Communication         COM              35906a108      335    68120 SH       SOLE                                      68120
Gannett Co  (.90)              COM              364730101      187    10535 SH       SOLE                                      10535
General Dynamics Corp          COM              369550108     1058    16000 SH       SOLE                                      16000
General Electric (1)           COM              369604103     4662   205271 SH       SOLE                                     205271
General Mills                  COM              370334104      239     5986 SH       SOLE                                       5986
Global Access Corp New         COM                               3    11948 SH       SOLE                                      11948
Google, Inc. Cl A              COM              38259p508      304      403 SH       SOLE                                        403
Great Plains Energy Inc (.77)  COM              391164100     1148    51578 SH       SOLE                                      51578
H. J. Heinz (.82)              COM              423074103      257     4600 SH       SOLE                                       4600
Hershey, Inc. (.65)            COM              427866108     1264    17825 SH       SOLE                                      17825
Home Depot (1.28)              COM              437076102     2332    38625 SH       SOLE                                      38625
Honeywell, Inc. (1.3)          COM              438516106      865    14484 SH       SOLE                                      14484
Hubbell Inc. Cl B (.63)        COM                             358     4433 SH       SOLE                                       4433
Huntington Ingalls Industries  COM              421939307      513    12193 SH       SOLE                                      12193
Ingersoll-Rand (1.26)          COM              G4776G101     1217    27150 SH       SOLE                                      27150
Integry Energy Group, Inc (.92 COM                             812    15558 SH       SOLE                                      15558
Intel (1.23)                   COM              458140100     2723   120192 SH       SOLE                                     120192
Intl Bus Mach                  COM              459200101     1495     7206 SH       SOLE                                       7206
Intl Flavors and Fragrences (. COM              459506101      760    12750 SH       SOLE                                      12750
Intl Paper Co (.68)            COM              460146103      297     8176 SH       SOLE                                       8176
Intuit (1.22)                  COM              461202103     1823    30954 SH       SOLE                                      30954
John & John                    COM              478160104     1575    22852 SH       SOLE                                      22852
Johnson Control Inc. (.92)     COM              478366107      427    15600 SH       SOLE                                      15600
Key Corp (.88)                 COM              493267108      256    29300 SH       SOLE                                      29300
Kimberly Clark                 COM              494368103      618     7205 SH       SOLE                                       7205
Kraft Foods, Inc. Class A (1)  COM              50075N104     5649   136606 SH       SOLE                                     136606
LRAD Corp                      COM                              25    17900 SH       SOLE                                      17900
Laclede Group Inc. New (.66)   COM              505597104      383     8900 SH       SOLE                                       8900
Lee Enterprises (.71)          COM              523768109       50    34030 SH       SOLE                                      34030
Masco Corp (.91)               COM              574599106      502    33380 SH       SOLE                                      33380
McClatchy Newspapers, Inc. (.8 COM              579489105       29    12882 SH       SOLE                                      12882
Medtronic Inc                  COM              585055106      981    22748 SH       SOLE                                      22748
Merck Drug Company (.99)       COM              589331107     3468    76898 SH       SOLE                                      76898
Microsoft (1.19)               COM              594918104     3110   104515 SH       SOLE                                     104515
Nestle SA - Spons Adr For Reg  COM                             299     4725 SH       SOLE                                       4725
Newell Rubbermaid,Inc. (.87)   COM              651229106      785    41125 SH       SOLE                                      41125
Norfolk & Southern             COM              655844108      283     4450 SH       SOLE                                       4450
Northrop Grunman Corp          COM              666807102     1145    17238 SH       SOLE                                      17238
Nuveen Real Estate Fund        COM                             142    12200 SH       SOLE                                      12200
Oklahoma Gas & Electric        COM              670837103      327     5900 SH       SOLE                                       5900
Oracle Corp (1.34)             COM              68389x105     4750   150997 SH       SOLE                                     150997
PNC Finl Services Gp Inc.      COM              693475105      258     4087 SH       SOLE                                       4087
PPG Industries (.90)           COM              693506107     1895    16505 SH       SOLE                                      16505
Park Electrochemical Corp (.86 COM                            1003    40414 SH       SOLE                                      40414
Paychex                        COM              704326107      948    28482 SH       SOLE                                      28482
Pentair Inc/LTD                COM                            2003    45000 SH       SOLE                                      45000
Pepco Holdings (.48)           COM              737679100      219    11578 SH       SOLE                                      11578
Pepsico (.75)                  COM              713448108     1469    20758 SH       SOLE                                      20758
Pfizer, Inc. (1.04)            COM              717081103     3728   150020 SH       SOLE                                     150020
Phillip Morris International   COM                             865     9616 SH       SOLE                                       9616
Phillips 66 Corp               COM              743627101     1343    28957 SH       SOLE                                      28957
Proctor & Gamble (.59)         COM              742718109     2210    31869 SH       SOLE                                      31869
Protective Life Corp. (.89)    COM              743674103      307    11719 SH       SOLE                                      11719
Quest Dianostics (1.0)         COM              74834L100      618     9750 SH       SOLE                                       9750
R. R. Donnelley (.77)          COM              257867101      641    60485 SH       SOLE                                      60485
Raytheon Corp (1.0)            COM              755111507     1590    27821 SH       SOLE                                      27821
Regions Financial              COM              7591EP100      274    38090 SH       SOLE                                      38090
SCANA (.63)                    COM              80589M102      255     5283 SH       SOLE                                       5283
Savannah BanCorp               COM              804748101      136    13559 SH       SOLE                                      13559
Sherwin Williams Co. Ohio (.91 COM              824348106      581     3900 SH       SOLE                                       3900
Snap On Tools (.82)            COM              833034101      545     7584 SH       SOLE                                       7584
Southern Company Inc. (.58)    COM              842587107      785    17036 SH       SOLE                                      17036
St. Jude Medical (1.08)        COM              790849103     2160    51273 SH       SOLE                                      51273
Stanley Black & Decker (1.05)  COM              854616109      862    11300 SH       SOLE                                      11300
Stryker Corp                   COM              863667101      925    16625 SH       SOLE                                      16625
Synovus Financial Corp.        COM              87161C105      200    84507 SH       SOLE                                      84507
Teleflex Inc                   COM              879369106      227     3300 SH       SOLE                                       3300
Tenet Healthcare Corp (.58)    COM              88033G100      214    34075 SH       SOLE                                      34075
Total Systems (.97)            COM              891906109     5245   221311 SH       SOLE                                     221311
U. S. Bancorp                  COM              902973304      449    13082 SH       SOLE                                      13082
UIL Holding Corp. (1.07)       COM              902748102      924    25775 SH       SOLE                                      25775
United Technology              COM              913017109      508     6487 SH       SOLE                                       6487
Universal Corp/VA (.88) (R2)   COM                             486     9550 SH       SOLE                                       9550
VF Corp (.90)                  COM              918204108     1113     6983 SH       SOLE                                       6983
Valspar                        COM                             786    14003 SH       SOLE                                      14003
Verizon Communication (.70)    COM              92343V104     2723    59751 SH       SOLE                                      59751
Wal-Mart Stores (1.03)         COM              931142103      546     7396 SH       SOLE                                       7396
Walgreen Drugs                 COM              931422109      243     6662 SH       SOLE                                       6662
Walt Disney (.92)              COM              254687106     1301    24885 SH       SOLE                                      24885
Weyerhaeuser Co.               COM              962166104     1188    45454 SH       SOLE                                      45454
Whirlpool Corp (1.12)          COM              963320106      269     3250 SH       SOLE                                       3250
Mutual Shares - Z                                              342 15235.197SH       SOLE                                  15235.197