UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2005
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Labranche & Co Inc.
Address: One Exchange Plaza
New York, NY 10271
13F File Number: 28-10499
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Harvey S. Traison
Title: Senior Vice President and Chief Financial Officer
Phone: 212-482-8950
Signature, Place, and Date of Signing:
/s/ Harvey S. Traison New York, NY August 04, 2005
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 2
Form13F Information Table Entry Total: 687
Form13F Information Table Value Total: $882,938 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.
No. 13F File Number Name
01 28-10500 Labranche & Co., LLC
02 28-10501 Labranche Structured Products, LLC
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 CO COM 88579Y101 981 13562 SH DEFINED 02 0 13562 0
99 CENTS ONLY STORES COM 65440K106 454 35722 SH DEFINED 02 0 35722 0
ABB LTD SPONSORED ADR 000375204 190 29336 SH DEFINED 01 0 29336 0
ABBOTT LABS COM 002824100 1983 40452 SH DEFINED 02 0 40452 0
ABERCROMBIE & FITCH CO CL A 002896207 616 8967 SH DEFINED 02 0 8967 0
ACE LTD ORD G0070K103 678 15106 SH DEFINED 02 0 15106 0
ADOBE SYS INC COM 00724F101 202 7046 SH DEFINED 02 0 7046 0
ADVANCED MEDICAL OPTICS INC COM 00763M108 203 5101 SH DEFINED 01 0 5101 0
ADVANCED MICRO DEVICES INC COM 007903107 843 6229 SH Call DEFINED 02 0 6229 0
ADVANCED MICRO DEVICES INC COM 007903107 1075 8757 SH Put DEFINED 02 0 8757 0
ADVANCED MICRO DEVICES INC COM 007903107 372 21440 SH DEFINED 02 0 21440 0
AFFILIATED MANAGERS GROUP COM 008252108 518 381 SH Call DEFINED 02 0 381 0
AFFORDABLE RESIDENTIAL CMTYS COM 008273104 285 21360 SH DEFINED 02 0 21360 0
AFFYMETRIX INC COM 00826T108 390 7234 SH DEFINED 02 0 7234 0
AGERE SYS INC COM 00845V308 224 18631 SH DEFINED 01 0 18631 0
AGILENT TECHNOLOGIES INC COM 00846U101 496 21562 SH DEFINED 01 0 21562 0
AIR PRODS & CHEMS INC COM 009158106 235 3893 SH DEFINED 02 0 3893 0
AIRGAS INC COM 009363102 296 12013 SH DEFINED 02 0 12013 0
ALASKA AIR GROUP INC COM 011659109 273 9164 SH DEFINED 01 0 9164 0
ALCOA INC COM 013817101 300 11478 SH DEFINED 02 0 11478 0
ALCON INC COM SHS H01301102 2170 19849 SH DEFINED 02 0 19849 0
ALLEGHENY ENERGY INC COM 017361106 347 339 SH Call DEFINED 02 0 339 0
ALLEGHENY ENERGY INC COM 017361106 316 12514 SH DEFINED 02 0 12514 0
ALLIED CAP CORP NEW COM 01903Q108 500 4000 SH Call DEFINED 02 0 4000 0
ALLIED CAP CORP NEW COM 01903Q108 760 2000 SH Put DEFINED 02 0 2000 0
ALLSTATE CORP COM 020002101 3048 51012 SH DEFINED 02 0 51012 0
ALTRIA GROUP INC COM 02209S103 1090 16858 SH DEFINED 01 0 16858 0
ALTRIA GROUP INC COM 02209S103 450 6952 SH DEFINED 02 0 6952 0
ALTRIA GROUP INC COM 02209S103 665 3947 SH Call DEFINED 02 0 3947 0
ALTRIA GROUP INC COM 02209S103 270 831 SH Put DEFINED 02 0 831 0
ALVARION LTD SHS M0861T100 320 27642 SH DEFINED 02 0 27642 0
AMERADA HESS CORP COM 023551104 9564 89790 SH DEFINED 02 0 89790 0
AMERADA HESS CORP COM 023551104 940 232 SH Call DEFINED 02 0 232 0
AMERICA MOVIL S A DE C V SPON ADR L SHS 02364W105 248 617 SH Call DEFINED 02 0 617 0
AMERICAN ELEC PWR INC COM 025537101 225 6115 SH DEFINED 01 0 6115 0
AMERICAN ELEC PWR INC COM 025537101 999 27093 SH DEFINED 02 0 27093 0
AMERICAN EXPRESS CO COM 025816109 8378 157397 SH DEFINED 02 0 157397 0
AMERICAN FINL GROUP INC OHIO COM 025932104 214 6399 SH DEFINED 02 0 6399 0
AMERICAN INTL GROUP INC COM 026874107 8863 152549 SH DEFINED 02 0 152549 0
AMERICAN INTL GROUP INC COM 026874107 1028 3322 SH Call DEFINED 02 0 3322 0
AMERITRADE HLDG CORP NEW COM 03074K100 423 1290 SH Call DEFINED 02 0 1290 0
AMERITRADE HLDG CORP NEW COM 03074K100 774 41608 SH DEFINED 02 0 41608 0
AMGEN INC COM 031162100 2856 47232 SH DEFINED 02 0 47232 0
AMR CORP COM 001765106 1709 141161 SH DEFINED 02 0 141161 0
ANADARKO PETE CORP COM 032511107 1400 1090 SH Call DEFINED 02 0 1090 0
ANADARKO PETE CORP COM 032511107 251 1098 SH Put DEFINED 02 0 1098 0
ANALOG DEVICES INC COM 032654105 415 500 SH Call DEFINED 02 0 500 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 461 12900 SH DEFINED 02 0 12900 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 218 1623 SH Call DEFINED 02 0 1623 0
ANNTAYLOR STORES CORP COM 036115103 249 767 SH Call DEFINED 02 0 767 0
APACHE CORP COM 037411105 1213 1070 SH Call DEFINED 02 0 1070 0
APACHE CORP COM 037411105 2021 31288 SH DEFINED 02 0 31288 0
APOLLO GROUP INC CL A 037604105 980 12515 SH DEFINED 02 0 12515 0
APOLLO GROUP INC CL A 037604105 285 493 SH Call DEFINED 02 0 493 0
APPLE COMPUTER INC COM 037833100 807 21959 SH DEFINED 02 0 21959 0
APPLERA CORP COM AP BIO GRP 038020103 352 17889 SH DEFINED 02 0 17889 0
APPLIED MATLS INC COM 038222105 779 48142 SH DEFINED 02 0 48142 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 95 37124 SH DEFINED 02 0 37124 0
ARCH COAL INC COM 039380100 529 9718 SH DEFINED 02 0 9718 0
ARIAD PHARMACEUTICALS INC COM 04033A100 199 30001 SH DEFINED 02 0 30001 0
ASK JEEVES INC COM 045174109 607 20090 SH DEFINED 02 0 20090 0
ASTRAZENECA PLC SPONSORED ADR 046353108 1081 26200 SH DEFINED 02 0 26200 0
AT&T CORP COM NEW 001957505 800 42011 SH DEFINED 02 0 42011 0
ATHEROGENICS INC COM 047439104 307 1616 SH Call DEFINED 02 0 1616 0
ATP OIL & GAS CORP COM 00208J108 271 11600 SH DEFINED 02 0 11600 0
AUTOMATIC DATA PROCESSING IN COM 053015103 246 5860 SH DEFINED 02 0 5860 0
AUTOZONE INC COM 053332102 337 3650 SH DEFINED 02 0 3650 0
AUTOZONE INC COM 053332102 301 411 SH Call DEFINED 02 0 411 0
AVAYA INC COM 053499109 256 30726 SH DEFINED 01 0 30726 0
AVERY DENNISON CORP COM 053611109 426 8052 SH DEFINED 01 0 8052 0
AVNET INC COM 053807103 254 11289 SH DEFINED 02 0 11289 0
AVON PRODS INC COM 054303102 1279 1794 SH Put DEFINED 02 0 1794 0
BAKER HUGHES INC COM 057224107 265 5185 SH DEFINED 02 0 5185 0
BANK NEW YORK INC COM 064057102 232 8058 SH DEFINED 02 0 8058 0
BANK OF AMERICA CORPORATION COM 060505104 5343 117152 SH DEFINED 02 0 117152 0
BARD C R INC COM 067383109 333 5003 SH DEFINED 02 0 5003 0
BARRICK GOLD CORP COM 067901108 563 22499 SH DEFINED 01 0 22499 0
BARRICK GOLD CORP COM 067901108 513 20500 SH DEFINED 02 0 20500 0
BEAR STEARNS COS INC COM 073902108 5224 50259 SH DEFINED 02 0 50259 0
BED BATH & BEYOND INC COM 075896100 234 5599 SH DEFINED 02 0 5599 0
BEST BUY INC COM 086516101 316 4608 SH DEFINED 02 0 4608 0
BEST BUY INC COM 086516101 1910 1000 SH Call DEFINED 02 0 1000 0
BIOGEN IDEC INC COM 09062X103 364 10570 SH DEFINED 02 0 10570 0
BIOTECH HOLDERS TR DEPOSTRY RCPTS 09067D201 411 1209 SH Put DEFINED 02 0 1209 0
BIOTECH HOLDERS TR DEPOSTRY RCPTS 09067D201 868 402 SH Call DEFINED 02 0 402 0
BIOTECH HOLDERS TR DEPOSTRY RCPTS 09067D201 13195 78870 SH DEFINED 02 0 78870 0
BIOVAIL CORP COM 09067J109 781 50300 SH DEFINED 02 0 50300 0
BJ SVCS CO COM 055482103 756 14413 SH DEFINED 02 0 14413 0
BLOCK H & R INC COM 093671105 335 500 SH Put DEFINED 02 0 500 0
BLUE NILE INC COM 09578R103 401 12260 SH DEFINED 02 0 12260 0
BOWATER INC COM 102183100 241 1729 SH Put DEFINED 02 0 1729 0
BP PLC SPONSORED ADR 055622104 2746 44026 SH DEFINED 02 0 44026 0
BP PLC SPONSORED ADR 055622104 490 1337 SH Call DEFINED 02 0 1337 0
BRISTOL MYERS SQUIBB CO COM 110122108 261 1868 SH Call DEFINED 02 0 1868 0
BRISTOL MYERS SQUIBB CO COM 110122108 530 21197 SH DEFINED 02 0 21197 0
BROADCOM CORP CL A 111320107 979 2041 SH Call DEFINED 02 0 2041 0
BROADCOM CORP CL A 111320107 417 829 SH Put DEFINED 02 0 829 0
BURLINGTON NORTHN SANTA FE C COM 12189T104 543 11531 SH DEFINED 02 0 11531 0
BURLINGTON RES INC COM 122014103 203 333 SH Call DEFINED 02 0 333 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 535 16613 SH DEFINED 02 0 16613 0
CAL DIVE INTL INC COM 127914109 531 10133 SH DEFINED 02 0 10133 0
CALPINE CORP COM 131347106 49 14474 SH DEFINED 02 0 14474 0
CALPINE CORP COM 131347106 396 5693 SH Call DEFINED 02 0 5693 0
CALPINE CORP COM 131347106 1362 10478 SH Put DEFINED 02 0 10478 0
CANYON RESOURCES CORP COM NEW 138869300 50 73131 SH DEFINED 01 0 73131 0
CAPITAL ONE FINL CORP COM 14040H105 614 7680 SH DEFINED 01 0 7680 0
CAPITAL ONE FINL CORP COM 14040H105 502 767 SH Call DEFINED 02 0 767 0
CAREMARK RX INC COM 141705103 398 8942 SH DEFINED 02 0 8942 0
CARMAX INC COM 143130102 346 12965 SH DEFINED 01 0 12965 0
CB RICHARD ELLIS GROUP INC CL A 12497T101 1281 29200 SH DEFINED 02 0 29200 0
CELL THERAPEUTICS INC COM 150934107 32 11801 SH DEFINED 02 0 11801 0
CEMEX S A SPON ADR 5 ORD 151290889 548 12924 SH DEFINED 02 0 12924 0
CENDANT CORP COM 151313103 314 1255 SH Call DEFINED 02 0 1255 0
CENTEX CORP COM 152312104 303 4287 SH DEFINED 01 0 4287 0
CENTRAL EUROPEAN DIST CORP COM 153435102 367 9824 SH DEFINED 02 0 9824 0
CENTURY ALUM CO COM 156431108 276 13516 SH DEFINED 02 0 13516 0
CEPHALON INC COM 156708109 1166 29294 SH DEFINED 02 0 29294 0
CEPHALON INC COM 156708109 307 1982 SH Put DEFINED 02 0 1982 0
CHESAPEAKE ENERGY CORP COM 165167107 433 18998 SH DEFINED 02 0 18998 0
CHEVRON CORP NEW COM 166764100 557 9966 SH DEFINED 02 0 9966 0
CHEVRON CORP NEW COM 166764100 826 2843 SH Call DEFINED 02 0 2843 0
CHEVRON CORP NEW COM 166764100 659 1767 SH Put DEFINED 02 0 1767 0
CHICOS FAS INC COM 168615102 1335 38944 SH DEFINED 02 0 38944 0
CHINA FD INC COM 169373107 545 19200 SH DEFINED 01 0 19200 0
CHINA NETCOM GROUP CORP HK L SPONSORED ADR 16940Q101 241 8300 SH DEFINED 02 0 8300 0
CHINA PETE & CHEM CORP SPON ADR H SHS 16941R108 320 8200 SH DEFINED 02 0 8200 0
CHINA YUCHAI INTL LTD COM G21082105 376 31000 SH DEFINED 02 0 31000 0
CIGNA CORP COM 125509109 463 4323 SH DEFINED 01 0 4323 0
CIGNA CORP COM 125509109 3523 32914 SH DEFINED 02 0 32914 0
CIMAREX ENERGY CO COM 171798101 719 18475 SH DEFINED 02 0 18475 0
CISCO SYS INC COM 17275R102 1940 101678 SH DEFINED 02 0 101678 0
CIT GROUP INC COM 125581108 279 6484 SH DEFINED 01 0 6484 0
CITIGROUP INC COM 172967101 11499 248745 SH DEFINED 02 0 248745 0
CITIGROUP INC COM 172967101 298 2928 SH Call DEFINED 02 0 2928 0
CITIGROUP INC COM 172967101 346 2200 SH Put DEFINED 02 0 2200 0
CITIZENS COMMUNICATIONS CO COM 17453B101 294 21890 SH DEFINED 02 0 21890 0
CLAIRES STORES INC COM 179584107 907 37705 SH DEFINED 02 0 37705 0
CLEVELAND CLIFFS INC COM 185896107 2326 40278 SH DEFINED 02 0 40278 0
CLEVELAND CLIFFS INC COM 185896107 215 898 SH Call DEFINED 02 0 898 0
CLEVELAND CLIFFS INC COM 185896107 309 360 SH Put DEFINED 02 0 360 0
CMS ENERGY CORP COM 125896100 254 16886 SH DEFINED 02 0 16886 0
COCA COLA CO COM 191216100 207 4965 SH DEFINED 02 0 4965 0
COCA COLA CO COM 191216100 293 1000 SH Put DEFINED 02 0 1000 0
COEUR D ALENE MINES CORP IDA COM 192108108 56 15392 SH DEFINED 02 0 15392 0
COGNOS INC COM 19244C109 766 22442 SH DEFINED 02 0 22442 0
COMERICA INC COM 200340107 314 5431 SH DEFINED 01 0 5431 0
COMMERCE BANCORP INC NJ COM 200519106 951 3090 SH Call DEFINED 02 0 3090 0
COMMERCE BANCORP INC NJ COM 200519106 228 2245 SH Put DEFINED 02 0 2245 0
COMMERCIAL FEDERAL CORPORATI COM 201647104 240 7120 SH DEFINED 01 0 7120 0
COMPUTER ASSOC INTL INC COM 204912109 1090 1465 SH Call DEFINED 02 0 1465 0
COMPUTER ASSOC INTL INC COM 204912109 5126 186536 SH DEFINED 02 0 186536 0
COMPUWARE CORP COM 205638109 81 11208 SH DEFINED 02 0 11208 0
COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 271 11482 SH DEFINED 02 0 11482 0
CONAGRA FOODS INC COM 205887102 475 20515 SH DEFINED 02 0 20515 0
CONOCOPHILLIPS COM 20825C104 277 4810 SH DEFINED 02 0 4810 0
CONOCOPHILLIPS COM 20825C104 1177 650 SH Call DEFINED 02 0 650 0
CONTINENTAL AIRLS INC CL B 210795308 133 10022 SH DEFINED 01 0 10022 0
CONTINENTAL AIRLS INC CL B 210795308 266 20057 SH DEFINED 02 0 20057 0
COOPER CAMERON CORP COM 216640102 235 561 SH Call DEFINED 02 0 561 0
COOPER COS INC COM NEW 216648402 255 536 SH Call DEFINED 02 0 536 0
CORNING INC COM 219350105 258 15549 SH DEFINED 02 0 15549 0
CORRPRO COS INC COM 220317101 42 42927 SH DEFINED 01 0 42927 0
COST PLUS INC CALIF COM 221485105 223 8926 SH DEFINED 02 0 8926 0
COSTCO WHSL CORP NEW COM 22160K105 213 4762 SH DEFINED 02 0 4762 0
COVENTRY HEALTH CARE INC COM 222862104 415 5863 SH DEFINED 01 0 5863 0
CSX CORP COM 126408103 315 7395 SH DEFINED 01 0 7395 0
CULLEN FROST BANKERS INC COM 229899109 240 5035 SH DEFINED 01 0 5035 0
CV THERAPEUTICS INC COM 126667104 257 11501 SH DEFINED 02 0 11501 0
CVD EQUIP CORP COM 126601103 21 10176 SH DEFINED 01 0 10176 0
CVS CORP COM 126650100 652 22412 SH DEFINED 02 0 22412 0
CVS CORP COM 126650100 553 19015 SH DEFINED 01 0 19015 0
CYBERONICS INC COM 23251P102 241 5551 SH DEFINED 02 0 5551 0
DADE BEHRING HLDGS INC COM 23342J206 237 3640 SH DEFINED 02 0 3640 0
DANAHER CORP DEL COM 235851102 1034 19760 SH DEFINED 02 0 19760 0
DELL INC COM 24702R101 740 18751 SH DEFINED 02 0 18751 0
DELTA AIR LINES INC DEL COM 247361108 56 15024 SH DEFINED 01 0 15024 0
DELTA AIR LINES INC DEL COM 247361108 1056 280908 SH DEFINED 02 0 280908 0
DELTA AIR LINES INC DEL COM 247361108 532 1960 SH Put DEFINED 02 0 1960 0
DEVON ENERGY CORP NEW COM 25179M103 223 4410 SH DEFINED 02 0 4410 0
DIAGEO P L C SPON ADR NEW 25243Q205 246 4142 SH DEFINED 01 0 4142 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 468 8768 SH DEFINED 02 0 8768 0
DIEBOLD INC COM 253651103 1557 34511 SH DEFINED 02 0 34511 0
DISCOVERY LABORATORIES INC N COM 254668106 384 52903 SH DEFINED 02 0 52903 0
DISNEY WALT CO COM DISNEY 254687106 331 13165 SH DEFINED 02 0 13165 0
DJ ORTHOPEDICS INC COM 23325G104 276 10046 SH DEFINED 02 0 10046 0
DOLLAR GEN CORP COM 256669102 225 11041 SH DEFINED 02 0 11041 0
DOLLAR TREE STORES INC COM 256747106 258 10749 SH DEFINED 02 0 10749 0
DONNELLEY R R & SONS CO COM 257867101 345 9983 SH DEFINED 01 0 9983 0
DOW CHEM CO COM 260543103 762 17118 SH DEFINED 02 0 17118 0
DREAMWORKS ANIMATION SKG INC CL A 26153C103 783 29900 SH DEFINED 02 0 29900 0
DST SYS INC DEL COM 233326107 407 8707 SH DEFINED 02 0 8707 0
DST SYS INC DEL COM 233326107 439 9384 SH DEFINED 01 0 9384 0
DU PONT E I DE NEMOURS & CO COM 263534109 1139 26471 SH DEFINED 01 0 26471 0
DU PONT E I DE NEMOURS & CO COM 263534109 522 12127 SH DEFINED 02 0 12127 0
E M C CORP MASS COM 268648102 1371 100000 SH DEFINED 01 0 100000 0
E M C CORP MASS COM 268648102 436 31817 SH DEFINED 02 0 31817 0
EASTMAN CHEM CO COM 277432100 1084 19656 SH DEFINED 02 0 19656 0
EBAY INC COM 278642103 2380 8000 SH Call DEFINED 02 0 8000 0
EBAY INC COM 278642103 3163 8100 SH Put DEFINED 02 0 8100 0
EDISON INTL COM 281020107 1185 950 SH Call DEFINED 02 0 950 0
EDUCATION MGMT CORP COM 28139T101 619 18342 SH DEFINED 02 0 18342 0
EDWARDS AG INC COM 281760108 572 12672 SH DEFINED 02 0 12672 0
EL PASO CORP COM 28336L109 269 23370 SH DEFINED 02 0 23370 0
ELAN PLC ADR 284131208 777 6684 SH Put DEFINED 02 0 6684 0
ELAN PLC ADR 284131208 564 82725 SH DEFINED 02 0 82725 0
ELAN PLC ADR 284131208 295 3608 SH Call DEFINED 02 0 3608 0
EMERSON ELEC CO COM 291011104 447 7133 SH DEFINED 01 0 7133 0
ENCANA CORP COM 292505104 3484 88000 SH DEFINED 02 0 88000 0
ENCANA CORP COM 292505104 577 1013 SH Call DEFINED 02 0 1013 0
ENI S P A SPONSORED ADR 26874R108 489 3816 SH DEFINED 01 0 3816 0
ENSCO INTL INC COM 26874Q100 1553 43433 SH DEFINED 02 0 43433 0
ENTERGY CORP NEW COM 29364G103 683 9043 SH DEFINED 01 0 9043 0
ENZO BIOCHEM INC COM 294100102 1510 84193 SH DEFINED 02 0 84193 0
ENZON PHARMACEUTICALS INC COM 293904108 83 12864 SH DEFINED 02 0 12864 0
EOG RES INC COM 26875P101 224 3935 SH DEFINED 02 0 3935 0
EPIX PHARMACEUTICALS INC COM 26881Q101 220 24779 SH DEFINED 02 0 24779 0
EQUITY OFFICE PROPERTIES TRU COM 294741103 414 12518 SH DEFINED 02 0 12518 0
ESS TECHNOLOGY INC COM 269151106 89 21230 SH DEFINED 02 0 21230 0
EVEREST RE GROUP LTD COM G3223R108 1545 16616 SH DEFINED 02 0 16616 0
EVERGREEN MANAGED INCOME FD COM SHS 30024Y104 225 12908 SH DEFINED 01 0 12908 0
EXPRESS SCRIPTS INC COM 302182100 875 17506 SH DEFINED 02 0 17506 0
EXXON MOBIL CORP COM 30231G102 1764 3538 SH Call DEFINED 02 0 3538 0
EXXON MOBIL CORP COM 30231G102 4286 74583 SH DEFINED 01 0 74583 0
EXXON MOBIL CORP COM 30231G102 3689 64184 SH DEFINED 02 0 64184 0
F M C CORP COM NEW 302491303 220 3924 SH DEFINED 02 0 3924 0
FASTENAL CO COM 311900104 211 500 SH Call DEFINED 02 0 500 0
FEDERAL NATL MTG ASSN COM 313586109 359 650 SH Put DEFINED 02 0 650 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 239 4045 SH DEFINED 01 0 4045 0
FEDERATED DEPT STORES INC DE COM 31410H101 782 10673 SH DEFINED 02 0 10673 0
FIDELITY NATL FINL INC COM 316326107 1204 1250 SH Call DEFINED 02 0 1250 0
FIRST AMERN CORP CALIF COM 318522307 420 10466 SH DEFINED 02 0 10466 0
FIRST BANCORP P R COM 318672102 400 9961 SH DEFINED 02 0 9961 0
FIRST BANCORP P R COM 318672102 613 170 SH Call DEFINED 02 0 170 0
FIRST HORIZON NATL CORP COM 320517105 307 7264 SH DEFINED 01 0 7264 0
FLAGSTAR BANCORP INC COM 337930101 485 25609 SH DEFINED 02 0 25609 0
FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 317 17497 SH DEFINED 02 0 17497 0
FLEXTRONICS INTL LTD ORD Y2573F102 413 31258 SH DEFINED 02 0 31258 0
FLIR SYS INC COM 302445101 360 12058 SH DEFINED 02 0 12058 0
FORD MTR CO CAP TR II PFD TR CV6.5% 345395206 341 8450 SH DEFINED 01 0 8450 0
FORD MTR CO DEL COM PAR $0.01 345370860 399 38944 SH DEFINED 01 0 38944 0
FORD MTR CO DEL COM PAR $0.01 345370860 1131 110467 SH DEFINED 02 0 110467 0
FORDING CDN COAL TR TR UNIT 345425102 1125 12200 SH DEFINED 02 0 12200 0
FOREST LABS INC COM 345838106 1044 26881 SH DEFINED 02 0 26881 0
FOUNDATION COAL HLDGS INC COM 35039W100 335 12900 SH DEFINED 02 0 12900 0
FREEPORT-MCMORAN COPPER & GO CL B 35671D857 877 3380 SH Call DEFINED 02 0 3380 0
FREEPORT-MCMORAN COPPER & GO CL B 35671D857 600 2191 SH Put DEFINED 02 0 2191 0
FREEPORT-MCMORAN COPPER & GO CL B 35671D857 682 18211 SH DEFINED 02 0 18211 0
FUELCELL ENERGY INC COM 35952H106 155 15215 SH DEFINED 02 0 15215 0
GAP INC DEL COM 364760108 595 30115 SH DEFINED 02 0 30115 0
GATEWAY INC COM 367626108 330 100000 SH DEFINED 01 0 100000 0
GENENTECH INC COM NEW 368710406 918 250 SH Call DEFINED 02 0 250 0
GENERAL ELEC CO COM 369604103 892 25732 SH DEFINED 02 0 25732 0
GENERAL GROWTH PPTYS INC COM 370021107 675 16434 SH DEFINED 02 0 16434 0
GENERAL MLS INC COM 370334104 1074 22950 SH DEFINED 02 0 22950 0
GENERAL MTRS CORP COM 370442105 523 15391 SH DEFINED 02 0 15391 0
GENTEX CORP COM 371901109 305 16758 SH DEFINED 02 0 16758 0
GENZYME CORP COM 372917104 476 7932 SH DEFINED 02 0 7932 0
GEORGIA GULF CORP COM PAR $0.01 373200203 329 10597 SH DEFINED 02 0 10597 0
GEORGIA PAC CORP COM 373298108 323 10151 SH DEFINED 02 0 10151 0
GETTY IMAGES INC COM 374276103 312 760 SH Call DEFINED 02 0 760 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 805 16600 SH DEFINED 02 0 16600 0
GLOBALSANTAFE CORP SHS G3930E101 414 10150 SH DEFINED 02 0 10150 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 528 46500 SH DEFINED 02 0 46500 0
GOLDCORP INC NEW COM 380956409 290 18371 SH DEFINED 01 0 18371 0
GOLDCORP INC NEW COM 380956409 558 35376 SH DEFINED 02 0 35376 0
GOLDCORP INC NEW COM 380956409 274 2475 SH Call DEFINED 02 0 2475 0
GOLDEN STAR RES LTD CDA COM 38119T104 94 30467 SH DEFINED 01 0 30467 0
GOLDEN WEST FINL CORP DEL COM 381317106 232 3596 SH DEFINED 02 0 3596 0
GOLDMAN SACHS GROUP INC COM 38141G104 1792 17565 SH DEFINED 02 0 17565 0
GOODYEAR TIRE & RUBR CO COM 382550101 550 1000 SH Call DEFINED 02 0 1000 0
GOOGLE INC CL A 38259P508 18870 2955 SH Call DEFINED 02 0 2955 0
GOOGLE INC CL A 38259P508 1914 2028 SH Put DEFINED 02 0 2028 0
GRANT PRIDECO INC COM 38821G101 341 12877 SH DEFINED 02 0 12877 0
GTECH HLDGS CORP COM 400518106 997 34082 SH DEFINED 02 0 34082 0
GUIDANT CORP COM 401698105 1407 20908 SH DEFINED 02 0 20908 0
HALLIBURTON CO COM 406216101 790 16510 SH DEFINED 02 0 16510 0
HANOVER COMPRESSOR CO COM 410768105 158 13692 SH DEFINED 02 0 13692 0
HARMAN INTL INDS INC COM 413086109 2125 26116 SH DEFINED 02 0 26116 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 382 44600 SH DEFINED 02 0 44600 0
HARRAHS ENTMT INC COM 413619107 1131 15689 SH DEFINED 02 0 15689 0
HARRAHS ENTMT INC COM 413619107 651 405 SH Call DEFINED 02 0 405 0
HARTFORD FINL SVCS GROUP INC COM 416515104 1020 13639 SH DEFINED 01 0 13639 0
HCA INC COM 404119109 252 4445 SH DEFINED 02 0 4445 0
HEINZ H J CO COM 423074103 1976 55789 SH DEFINED 02 0 55789 0
HEWLETT PACKARD CO COM 428236103 1055 44893 SH DEFINED 02 0 44893 0
HOME DEPOT INC COM 437076102 1638 42111 SH DEFINED 02 0 42111 0
HUNT J B TRANS SVCS INC COM 445658107 213 11094 SH DEFINED 02 0 11094 0
IMCLONE SYS INC COM 45245W109 415 13347 SH DEFINED 02 0 13347 0
INAMED CORP COM 453235103 214 405 SH Call DEFINED 02 0 405 0
INFOSPACE INC COM NEW 45678T201 718 21802 SH DEFINED 02 0 21802 0
INFRASOURCE SVCS INC COM 45684P102 165 15876 SH DEFINED 01 0 15876 0
INSITE VISION INC COM 457660108 96 148178 SH DEFINED 01 0 148178 0
INTEL CORP COM 458140100 6004 230725 SH DEFINED 02 0 230725 0
INTERNATIONAL BUSINESS MACHS COM 459200101 2648 35684 SH DEFINED 02 0 35684 0
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 537 14835 SH DEFINED 02 0 14835 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 1849 65694 SH DEFINED 02 0 65694 0
INTERNET HOLDRS TR DEPOSIT RCPT 46059W102 14144 261100 SH DEFINED 02 0 261100 0
INTERNET HOLDRS TR DEPOSIT RCPT 46059W102 386 1373 SH Call DEFINED 02 0 1373 0
INTL PAPER CO COM 460146103 278 9199 SH DEFINED 02 0 9199 0
INTUITIVE SURGICAL INC COM NEW 46120E602 709 15248 SH DEFINED 02 0 15248 0
ISHARES INC MSCI JAPAN 464286848 12073 1190641 SH DEFINED 02 0 1190641 0
ISHARES INC MSCI TAIWAN 464286731 271 22396 SH DEFINED 02 0 22396 0
ISHARES INC MSCI UTD KINGD 464286699 1258 69986 SH DEFINED 02 0 69986 0
ISHARES INC MSCI SWITZERLD 464286749 1446 87000 SH DEFINED 02 0 87000 0
ISHARES INC MSCI SWEDEN 464286756 1056 52300 SH DEFINED 02 0 52300 0
ISHARES INC MSCI STH AFRCA 464286780 1748 24112 SH DEFINED 02 0 24112 0
ISHARES INC MSCI S KOREA 464286772 2322 72551 SH DEFINED 02 0 72551 0
ISHARES INC MSCI MEXICO 464286822 1372 50680 SH DEFINED 02 0 50680 0
ISHARES INC MSCI MALAYSIA 464286830 2390 345494 SH DEFINED 02 0 345494 0
ISHARES INC MSCI HONG KONG 464286871 7982 642602 SH DEFINED 02 0 642602 0
ISHARES INC MSCI GERMAN 464286806 2130 120074 SH DEFINED 02 0 120074 0
ISHARES INC MSCI FRANCE 464286707 1055 43900 SH DEFINED 02 0 43900 0
ISHARES INC MSCI EMU INDEX 464286608 7801 109650 SH DEFINED 02 0 109650 0
ISHARES INC MSCI CDA INDEX 464286509 1313 72326 SH DEFINED 02 0 72326 0
ISHARES INC MSCI BELGIUM 464286301 3947 220000 SH DEFINED 02 0 220000 0
ISHARES INC MSCI AUSTRALIA 464286103 1693 95760 SH DEFINED 02 0 95760 0
ISHARES INC MSCI AUSTRIA 464286202 3069 127930 SH DEFINED 02 0 127930 0
ISHARES INC MSCI ITALY 464286855 1411 57280 SH DEFINED 02 0 57280 0
ISHARES TR RUSSELL1000VAL 464287598 5152 77307 SH DEFINED 02 0 77307 0
ISHARES TR NASDQ BIO INDX 464287556 839 5323 SH Call DEFINED 02 0 5323 0
ISHARES TR NASDQ BIO INDX 464287556 668 6791 SH Put DEFINED 02 0 6791 0
ISHARES TR RUSL 2000 VALU 464287630 714 11100 SH DEFINED 02 0 11100 0
ISHARES TR RUSSELL 2000 464287655 1870 29358 SH DEFINED 02 0 29358 0
ISHARES TR RUSSELL 2000 464287655 534 3828 SH Call DEFINED 02 0 3828 0
ISHARES TR RUSSELL 2000 464287655 1076 12180 SH Put DEFINED 02 0 12180 0
ISHARES TR NASDQ BIO INDX 464287556 6953 102400 SH DEFINED 02 0 102400 0
ISHARES TR RUSSELL MCP VL 464287473 886 7500 SH DEFINED 02 0 7500 0
ISHARES TR DJ US FINL SVC 464287770 318 2939 SH DEFINED 02 0 2939 0
ISHARES TR S&P 500 INDEX 464287200 2399 20040 SH DEFINED 02 0 20040 0
ISHARES TR RUSSELL 3000 464287689 2034 29700 SH DEFINED 02 0 29700 0
ISHARES TR MSCI EAFE IDX 464287465 1587 30300 SH DEFINED 02 0 30300 0
ISHARES TR LEHMAN AGG BND 464287226 29195 282405 SH DEFINED 02 0 282405 0
ISHARES TR FTSE XNHUA IDX 464287184 3626 63498 SH DEFINED 02 0 63498 0
ISHARES TR DJ US REAL EST 464287739 1908 30000 SH DEFINED 02 0 30000 0
ISHARES TR DJ US FINL SEC 464287788 1232 12977 SH DEFINED 02 0 12977 0
ISHARES TR CONS SRVC IDX 464287580 291 4900 SH DEFINED 02 0 4900 0
ISHARES TR COHEN&ST RLTY 464287564 3440 48314 SH DEFINED 02 0 48314 0
ISHARES TR 7-10 YR TRS BD 464287440 3003 34530 SH DEFINED 02 0 34530 0
ISHARES TR 20+ YR TRS BD 464287432 5177 32825 SH Put DEFINED 02 0 32825 0
ISHARES TR 20+ YR TRS BD 464287432 10082 25215 SH Call DEFINED 02 0 25215 0
ISHARES TR 20+ YR TRS BD 464287432 4183 43261 SH DEFINED 02 0 43261 0
ISHARES TR S&P GBL HLTHCR 464287325 835 16720 SH DEFINED 02 0 16720 0
ISHARES TR DJ US TECH SEC 464287721 1174 25660 SH DEFINED 02 0 25660 0
ISHARES TR US TIPS BD FD 464287176 257 2400 SH DEFINED 02 0 2400 0
ISHARES TR S&P EURO PLUS 464287861 16127 216470 SH DEFINED 02 0 216470 0
ISHARES TR S&P GBL TELCM 464287275 605 12100 SH DEFINED 02 0 12100 0
ISHARES TR S&P MIDCAP 400 464287507 552 8000 SH DEFINED 02 0 8000 0
ISHARES TR S&P MIDCP GROW 464287606 1042 15000 SH DEFINED 02 0 15000 0
ISHARES TR S&P SMLCAP 600 464287804 6785 123455 SH DEFINED 02 0 123455 0
ISHARES TR S&P SMLCP VALU 464287879 2453 39800 SH DEFINED 02 0 39800 0
ISHARES TR SMLL GRWTH IDX 464288604 5366 85434 SH DEFINED 02 0 85434 0
ISHARES TR TRANSP AVE IDX 464287192 16746 267643 SH DEFINED 02 0 267643 0
ISHARES TR S&P GBL FIN 464287333 546 8390 SH DEFINED 02 0 8390 0
JANUS CAP GROUP INC COM 47102X105 172 11436 SH DEFINED 02 0 11436 0
JDA SOFTWARE GROUP INC COM 46612K108 132 11618 SH DEFINED 02 0 11618 0
JDS UNIPHASE CORP COM 46612J101 492 323487 SH DEFINED 02 0 323487 0
JOHNSON & JOHNSON COM 478160104 787 12103 SH DEFINED 02 0 12103 0
JOHNSON CTLS INC COM 478366107 218 3877 SH DEFINED 02 0 3877 0
JONES LANG LASALLE INC COM 48020Q107 204 4623 SH DEFINED 01 0 4623 0
JPMORGAN & CHASE & CO COM 46625H100 1253 35470 SH DEFINED 02 0 35470 0
JUNIPER NETWORKS INC COM 48203R104 412 16372 SH DEFINED 02 0 16372 0
KELLWOOD CO COM 488044108 1000 37165 SH DEFINED 01 0 37165 0
KERR MCGEE CORP COM 492386107 369 4839 SH DEFINED 02 0 4839 0
KINDER MORGAN ENERGY PARTNER UT LTD PARTNER 494550106 223 521 SH Call DEFINED 02 0 521 0
KINDER MORGAN INC KANS COM 49455P101 225 2699 SH DEFINED 02 0 2699 0
KINDRED HEALTHCARE INC COM 494580103 347 289 SH Call DEFINED 02 0 289 0
KINETIC CONCEPTS INC COM NEW 49460W208 400 6672 SH DEFINED 01 0 6672 0
KINROSS GOLD CORP COM NO PAR 496902404 217 35600 SH DEFINED 02 0 35600 0
KLA-TENCOR CORP COM 482480100 1611 36893 SH DEFINED 02 0 36893 0
KLA-TENCOR CORP COM 482480100 403 443 SH Put DEFINED 02 0 443 0
KNIGHT TRANSN INC COM 499064103 213 8760 SH DEFINED 01 0 8760 0
KOHLS CORP COM 500255104 4694 83952 SH DEFINED 02 0 83952 0
KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 158 19300 SH DEFINED 02 0 19300 0
KONINKLIJKE PHILIPS ELECTRS NY REG SH NEW 500472303 250 9906 SH DEFINED 01 0 9906 0
KRISPY KREME DOUGHNUTS INC COM 501014104 228 739 SH Put DEFINED 02 0 739 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 291 434 SH Call DEFINED 02 0 434 0
LA QUINTA CORP PAIRED CTF 50419U202 294 31476 SH DEFINED 01 0 31476 0
LAIDLAW INTL INC COM 50730R102 617 25600 SH DEFINED 02 0 25600 0
LAUDER ESTEE COS INC CL A 518439104 703 17953 SH DEFINED 01 0 17953 0
LAUDER ESTEE COS INC CL A 518439104 545 13938 SH DEFINED 02 0 13938 0
LEGG MASON INC COM 524901105 489 4701 SH DEFINED 02 0 4701 0
LEHMAN BROS HLDGS INC COM 524908100 4526 45585 SH DEFINED 02 0 45585 0
LEHMAN BROS HLDGS INC COM 524908100 1559 821 SH Call DEFINED 02 0 821 0
LEHMAN BROS HLDGS INC COM 524908100 272 1718 SH Put DEFINED 02 0 1718 0
LILLY ELI & CO COM 532457108 244 1273 SH Call DEFINED 02 0 1273 0
LILLY ELI & CO COM 532457108 558 10020 SH DEFINED 02 0 10020 0
LINEAR TECHNOLOGY CORP COM 535678106 252 6879 SH DEFINED 02 0 6879 0
LINENS N THINGS INC COM 535679104 905 38254 SH DEFINED 01 0 38254 0
LIONS GATE ENTMNT CORP COM NEW 535919203 164 15942 SH DEFINED 01 0 15942 0
LONE STAR TECHNOLOGIES INC COM 542312103 371 8154 SH DEFINED 02 0 8154 0
LONGS DRUG STORES CORP COM 543162101 205 4772 SH DEFINED 01 0 4772 0
LOWES COS INC COM 548661107 397 6821 SH DEFINED 01 0 6821 0
LOWES COS INC COM 548661107 1066 18308 SH DEFINED 02 0 18308 0
LSI LOGIC CORP COM 502161102 91 10660 SH DEFINED 02 0 10660 0
LUCENT TECHNOLOGIES INC COM 549463107 861 295991 SH DEFINED 01 0 295991 0
LYONDELL CHEMICAL CO COM 552078107 335 12676 SH DEFINED 01 0 12676 0
M & T BK CORP COM 55261F104 471 4475 SH DEFINED 01 0 4475 0
M & T BK CORP COM 55261F104 443 4211 SH DEFINED 02 0 4211 0
M D C HLDGS INC COM 552676108 258 3132 SH DEFINED 02 0 3132 0
MACDERMID INC COM 554273102 211 6756 SH DEFINED 01 0 6756 0
MACROMEDIA INC COM 556100105 238 6225 SH DEFINED 02 0 6225 0
MANAGED HIGH YIELD PLUS FD I COM 561911108 1339 260000 SH DEFINED 01 0 260000 0
MANOR CARE INC NEW COM 564055101 386 1214 SH Call DEFINED 02 0 1214 0
MANULIFE FINL CORP COM 56501R106 300 6265 SH DEFINED 02 0 6265 0
MARATHON OIL CORP COM 565849106 261 4897 SH DEFINED 02 0 4897 0
MARATHON OIL CORP COM 565849106 670 587 SH Call DEFINED 02 0 587 0
MARSH & MCLENNAN COS INC COM 571748102 928 33492 SH DEFINED 02 0 33492 0
MARSH & MCLENNAN COS INC COM 571748102 543 846 SH Put DEFINED 02 0 846 0
MARTHA STEWART LIVING OMNIME CL A 573083102 481 860 SH Call DEFINED 02 0 860 0
MASSEY ENERGY CORP COM 576206106 219 5794 SH DEFINED 02 0 5794 0
MATRITECH INC COM 576818108 11 15693 SH DEFINED 01 0 15693 0
MAY DEPT STORES CO COM 577778103 413 750 SH Call DEFINED 02 0 750 0
MBIA INC COM 55262C100 478 1101 SH Call DEFINED 02 0 1101 0
MBIA INC COM 55262C100 264 1873 SH Put DEFINED 02 0 1873 0
MBNA CORP COM 55262L100 284 10875 SH DEFINED 02 0 10875 0
MBNA CORP COM 55262L100 357 934 SH Call DEFINED 02 0 934 0
MCDATA CORP CL A 580031201 85 21302 SH DEFINED 02 0 21302 0
MCDONALDS CORP COM 580135101 1304 46982 SH DEFINED 02 0 46982 0
MEADWESTVACO CORP COM 583334107 325 11589 SH DEFINED 01 0 11589 0
MEDCO HEALTH SOLUTIONS INC COM 58405U102 457 8558 SH DEFINED 01 0 8558 0
MEDTRONIC INC COM 585055106 1062 20500 SH DEFINED 01 0 20500 0
MEDTRONIC INC COM 585055106 243 4684 SH DEFINED 02 0 4684 0
MELLON FINL CORP COM 58551A108 344 12005 SH DEFINED 02 0 12005 0
MENTOR GRAPHICS CORP COM 587200106 106 10332 SH DEFINED 02 0 10332 0
MERCK & CO INC COM 589331107 449 14594 SH DEFINED 01 0 14594 0
MERCK & CO INC COM 589331107 412 13367 SH DEFINED 02 0 13367 0
MERCURY INTERACTIVE CORP COM 589405109 254 731 SH Put DEFINED 02 0 731 0
MERIDIAN GOLD INC COM 589975101 436 3850 SH Call DEFINED 02 0 3850 0
MERRILL LYNCH & CO INC COM 590188108 1912 34756 SH DEFINED 02 0 34756 0
MERRILL LYNCH & CO INC COM 590188108 542 1776 SH Put DEFINED 02 0 1776 0
MERRILL LYNCH & CO INC COM 590188108 737 1759 SH Call DEFINED 02 0 1759 0
METALLICA RES INC COM 59125J104 19 15440 SH DEFINED 01 0 15440 0
METRIS COS INC COM 591598107 224 764 SH Call DEFINED 02 0 764 0
MGM MIRAGE COM 552953101 657 16608 SH DEFINED 02 0 16608 0
MGM MIRAGE COM 552953101 510 1471 SH Call DEFINED 02 0 1471 0
MGM MIRAGE COM 552953101 214 2248 SH Put DEFINED 02 0 2248 0
MICHAELS STORES INC COM 594087108 1638 39583 SH DEFINED 02 0 39583 0
MICHAELS STORES INC COM 594087108 277 311 SH Call DEFINED 02 0 311 0
MICROCHIP TECHNOLOGY INC COM 595017104 535 1115 SH Call DEFINED 02 0 1115 0
MICRON TECHNOLOGY INC COM 595112103 103 10133 SH DEFINED 02 0 10133 0
MICROSOFT CORP COM 594918104 3924 158097 SH DEFINED 02 0 158097 0
MIDCAP SPDR TR UNIT SER 1 595635103 38737 309300 SH DEFINED 02 0 309300 0
MIDCAP SPDR TR UNIT SER 1 595635103 501 3542 SH Put DEFINED 02 0 3542 0
MILACRON INC COM 598709103 87 45968 SH DEFINED 01 0 45968 0
MITTAL STEEL CO N V NY REG SH CL A 60684P101 315 13255 SH DEFINED 02 0 13255 0
MOHAWK INDS INC COM 608190104 282 3416 SH DEFINED 02 0 3416 0
MOLSON COORS BREWING CO CL B 60871R209 206 3319 SH DEFINED 01 0 3319 0
MONSANTO CO NEW COM 61166W101 3619 57559 SH DEFINED 02 0 57559 0
MONSANTO CO NEW COM 61166W101 215 135 SH Call DEFINED 02 0 135 0
MORGAN STANLEY COM NEW 617446448 20877 397878 SH DEFINED 02 0 397878 0
MORGAN STANLEY COM NEW 617446448 274 1458 SH Put DEFINED 02 0 1458 0
MORGAN STANLEY COM NEW 617446448 204 878 SH Call DEFINED 02 0 878 0
MOTOROLA INC COM 620076109 788 43173 SH DEFINED 02 0 43173 0
MURPHY OIL CORP COM 626717102 282 5404 SH DEFINED 01 0 5404 0
MURPHY OIL CORP COM 626717102 227 4340 SH DEFINED 02 0 4340 0
NABORS INDUSTRIES LTD SHS G6359F103 221 3645 SH DEFINED 02 0 3645 0
NATIONAL CITY CORP COM 635405103 258 7571 SH DEFINED 02 0 7571 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 1327 60241 SH DEFINED 02 0 60241 0
NCI BUILDING SYS INC COM 628852105 457 13940 SH DEFINED 02 0 13940 0
NCR CORP NEW COM 62886E108 431 12258 SH DEFINED 02 0 12258 0
NETEASE COM INC SPONSORED ADR 64110W102 819 14320 SH DEFINED 02 0 14320 0
NETEASE COM INC SPONSORED ADR 64110W102 751 935 SH Call DEFINED 02 0 935 0
NETFLIX COM INC COM 64110L106 257 15628 SH DEFINED 02 0 15628 0
NEW YORK CMNTY BANCORP INC COM 649445103 319 17594 SH DEFINED 01 0 17594 0
NEW YORK TIMES CO CL A 650111107 789 25326 SH DEFINED 02 0 25326 0
NEWMONT MINING CORP COM 651639106 3155 80827 SH DEFINED 02 0 80827 0
NEWS CORP CL B 65248E203 268 15874 SH DEFINED 01 0 15874 0
NEWS CORP CL B 65248E203 391 23200 SH DEFINED 02 0 23200 0
NEXTEL PARTNERS INC CL A 65333F107 404 2231 SH Call DEFINED 02 0 2231 0
NII HLDGS INC CL B NEW 62913F201 1647 25841 SH DEFINED 02 0 25841 0
NIKE INC CL B 654106103 3518 40619 SH DEFINED 02 0 40619 0
NISOURCE INC COM 65473P105 347 14043 SH DEFINED 01 0 14043 0
NOBLE CORPORATION SHS G65422100 613 9963 SH DEFINED 01 0 9963 0
NOKIA CORP SPONSORED ADR 654902204 3305 198630 SH DEFINED 01 0 198630 0
NORDSTROM INC COM 655664100 343 5039 SH DEFINED 02 0 5039 0
NORTEL NETWORKS CORP NEW COM 656568102 3263 1250000 SH DEFINED 01 0 1250000 0
NORTEL NETWORKS CORP NEW COM 656568102 29 11250 SH DEFINED 02 0 11250 0
NORTH FORK BANCORPORATION NY COM 659424105 241 8575 SH DEFINED 02 0 8575 0
NORTHERN TR CORP COM 665859104 250 5490 SH DEFINED 02 0 5490 0
NORTHWEST AIRLS CORP CL A 667280101 55 12250 SH DEFINED 02 0 12250 0
NOVARTIS A G SPONSORED ADR 66987V109 1471 31000 SH DEFINED 02 0 31000 0
NOVARTIS A G SPONSORED ADR 66987V109 1257 26489 SH DEFINED 01 0 26489 0
NPS PHARMACEUTICALS INC COM 62936P103 221 19454 SH DEFINED 02 0 19454 0
NRG ENERGY INC COM NEW 629377508 978 1976 SH Call DEFINED 02 0 1976 0
NU SKIN ENTERPRISES INC CL A 67018T105 304 13048 SH DEFINED 01 0 13048 0
NUCOR CORP COM 670346105 2542 55719 SH DEFINED 02 0 55719 0
NVIDIA CORP COM 67066G104 237 8883 SH DEFINED 02 0 8883 0
OCA INC COM 67083Q101 21 11198 SH DEFINED 01 0 11198 0
OIL STS INTL INC COM 678026105 365 14517 SH DEFINED 02 0 14517 0
OIL SVC HOLDRS TR DEPOSTRY RCPT 678002106 2589 25400 SH DEFINED 02 0 25400 0
OIL SVC HOLDRS TR DEPOSTRY RCPT 678002106 571 1600 SH Call DEFINED 02 0 1600 0
OMNICARE INC COM 681904108 443 10431 SH DEFINED 02 0 10431 0
OMNICOM GROUP INC COM 681919106 657 8226 SH DEFINED 02 0 8226 0
OPEN JT STK CO-VIMPEL COMMUN SPONSORED ADR 68370R109 241 1670 SH Put DEFINED 02 0 1670 0
OPEN JT STK CO-VIMPEL COMMUN SPONSORED ADR 68370R109 1986 58358 SH DEFINED 02 0 58358 0
ORACLE CORP COM 68389X105 2856 216328 SH DEFINED 02 0 216328 0
OWENS ILL INC COM NEW 690768403 470 18776 SH DEFINED 02 0 18776 0
PACIFICARE HEALTH SYS DEL COM 695112102 7793 109069 SH DEFINED 02 0 109069 0
PAR PHARMACEUTICAL COS INC COM 69888P106 1400 44003 SH DEFINED 02 0 44003 0
PEABODY ENERGY CORP COM 704549104 330 6340 SH DEFINED 02 0 6340 0
PEACE ARCH ENTMT GROUP INC COM 704586304 7 15532 SH DEFINED 01 0 15532 0
PEDIATRIX MED GROUP COM 705324101 414 5636 SH DEFINED 01 0 5636 0
PENNEY J C INC COM 708160106 713 1014 SH Call DEFINED 02 0 1014 0
PEPSICO INC COM 713448108 1057 19599 SH DEFINED 02 0 19599 0
PEPSICO INC COM 713448108 479 1281 SH Call DEFINED 02 0 1281 0
PEPSICO INC COM 713448108 486 3538 SH Put DEFINED 02 0 3538 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 351 450 SH Call DEFINED 02 0 450 0
PETSMART INC COM 716768106 640 21163 SH DEFINED 02 0 21163 0
PFIZER INC COM 717081103 2179 78990 SH DEFINED 02 0 78990 0
PFIZER INC COM 717081103 206 1145 SH Call DEFINED 02 0 1145 0
PG&E CORP COM 69331C108 948 25262 SH DEFINED 02 0 25262 0
PG&E CORP COM 69331C108 438 560 SH Call DEFINED 02 0 560 0
PHARMACEUTICAL HLDRS TR DEPOSITRY RCPT 71712A206 8798 120000 SH DEFINED 02 0 120000 0
PHARMACEUTICAL HLDRS TR DEPOSITRY RCPT 71712A206 300 747 SH Call DEFINED 02 0 747 0
PHELPS DODGE CORP COM 717265102 413 550 SH Put DEFINED 02 0 550 0
PLACER DOME INC COM 725906101 811 52700 SH DEFINED 02 0 52700 0
PLC SYS INC COM 69341D104 13 22816 SH DEFINED 01 0 22816 0
PMC-SIERRA INC COM 69344F106 481 2058 SH Call DEFINED 02 0 2058 0
PNC FINL SVCS GROUP INC COM 693475105 331 6070 SH DEFINED 02 0 6070 0
POLARIS INDS INC COM 731068102 294 393 SH Put DEFINED 02 0 393 0
POWERSHARES ETF TRUST HI YLD EQ DVDN 73935X302 11793 785704 SH DEFINED 02 0 785704 0
POWERSHARES ETF TRUST WNDRHLL CLN EN 73935X500 2011 137365 SH DEFINED 02 0 137365 0
PRECISION CASTPARTS CORP COM 740189105 446 5729 SH DEFINED 01 0 5729 0
PRICESMART INC RIGHT 99/99/9999 741511117 7 10000 SH DEFINED 01 0 10000 0
PRIDE INTL INC DEL COM 74153Q102 727 28288 SH DEFINED 02 0 28288 0
PROCTER & GAMBLE CO COM 742718109 464 4991 SH Put DEFINED 02 0 4991 0
PROCTER & GAMBLE CO COM 742718109 16879 319979 SH DEFINED 02 0 319979 0
PROCTER & GAMBLE CO COM 742718109 515 1357 SH Call DEFINED 02 0 1357 0
PROLOGIS SH BEN INT 743410102 201 5003 SH DEFINED 01 0 5003 0
PROVIDIAN FINL CORP COM 74406A102 301 17095 SH DEFINED 02 0 17095 0
PULTE HOMES INC COM 745867101 3177 37707 SH DEFINED 02 0 37707 0
PULTE HOMES INC COM 745867101 1366 929 SH Call DEFINED 02 0 929 0
PULTE HOMES INC COM 745867101 480 1842 SH Put DEFINED 02 0 1842 0
QLOGIC CORP COM 747277101 365 11818 SH DEFINED 02 0 11818 0
QUANTA SVCS INC COM 74762E102 165 18751 SH DEFINED 01 0 18751 0
RADIAN GROUP INC COM 750236101 401 8501 SH DEFINED 01 0 8501 0
RANDGOLD RES LTD ADR 752344309 339 2355 SH Call DEFINED 02 0 2355 0
RAYONIER INC COM 754907103 810 15276 SH DEFINED 02 0 15276 0
RAYTHEON CO COM NEW 755111507 920 23527 SH DEFINED 02 0 23527 0
REALNETWORKS INC COM 75605L104 311 62602 SH DEFINED 02 0 62602 0
RED HAT INC COM 756577102 146 11125 SH DEFINED 02 0 11125 0
REDWOOD TR INC COM 758075402 300 5821 SH DEFINED 02 0 5821 0
REGIONAL BK HOLDRS TR DEPOSITRY RCPT 75902E100 21224 158200 SH DEFINED 02 0 158200 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 221 6517 SH DEFINED 02 0 6517 0
RENAL CARE GROUP INC COM 759930100 325 7052 SH DEFINED 02 0 7052 0
RENOVIS INC COM 759885106 192 12600 SH DEFINED 02 0 12600 0
RENTECH INC COM 760112102 19 15268 SH DEFINED 01 0 15268 0
RESPIRONICS INC COM 761230101 491 672 SH Call DEFINED 02 0 672 0
RETAIL HOLDRS TR DEP RCPT 76127U101 503 3000 SH Put DEFINED 02 0 3000 0
RETAIL HOLDRS TR DEP RCPT 76127U101 2193 22900 SH DEFINED 02 0 22900 0
REUNION INDS INC COM 761312107 5 29859 SH DEFINED 01 0 29859 0
RF MICRODEVICES INC COM 749941100 278 51315 SH DEFINED 02 0 51315 0
RITE AID CORP COM 767754104 106 25391 SH DEFINED 02 0 25391 0
ROYAL DUTCH PETE CO NY REG EUR .56 780257804 263 510 SH Call DEFINED 02 0 510 0
ROYAL DUTCH PETE CO NY REG EUR .56 780257804 385 500 SH Put DEFINED 02 0 500 0
ROYCE FOCUS TR COM 78080N108 129 15067 SH DEFINED 01 0 15067 0
SALTON INC COM 795757103 35 30940 SH DEFINED 01 0 30940 0
SANDISK CORP COM 80004C101 1340 56490 SH DEFINED 02 0 56490 0
SANOFI AVENTIS SPONSORED ADR 80105N105 399 9734 SH DEFINED 02 0 9734 0
SANOFI AVENTIS SPONSORED ADR 80105N105 262 6388 SH DEFINED 01 0 6388 0
SAP AKTIENGESELLSCHAFT SPONSORED ADR 803054204 574 2607 SH Call DEFINED 02 0 2607 0
SBC COMMUNICATIONS INC COM 78387G103 624 26276 SH DEFINED 01 0 26276 0
SBC COMMUNICATIONS INC COM 78387G103 2138 90018 SH DEFINED 02 0 90018 0
SCHERING PLOUGH CORP COM 806605101 678 35587 SH DEFINED 02 0 35587 0
SCHLUMBERGER LTD COM 806857108 749 9858 SH DEFINED 01 0 9858 0
SCHLUMBERGER LTD COM 806857108 450 5930 SH DEFINED 02 0 5930 0
SCHWAB CHARLES CORP NEW COM 808513105 392 34792 SH DEFINED 02 0 34792 0
SCICLONE PHARMACEUTICALS INC COM 80862K104 54 12013 SH DEFINED 02 0 12013 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 1170 43100 SH DEFINED 02 0 43100 0
SELECT SECTOR SPDR TR SBI INT-TECH 81369Y803 496 24900 SH DEFINED 02 0 24900 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 2321 36638 SH Put DEFINED 02 0 36638 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1157 39273 SH DEFINED 02 0 39273 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 3741 30752 SH Put DEFINED 02 0 30752 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 448 1581 SH Call DEFINED 02 0 1581 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 452 19900 SH DEFINED 02 0 19900 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 13308 299450 SH DEFINED 02 0 299450 0
SEMICONDUCTOR HLDRS TR DEP RCPT 816636203 7714 229100 SH DEFINED 02 0 229100 0
SEMICONDUCTOR HLDRS TR DEP RCPT 816636203 249 1545 SH Call DEFINED 02 0 1545 0
SEPRACOR INC COM 817315104 3029 2843 SH Call DEFINED 02 0 2843 0
SEPRACOR INC COM 817315104 752 2539 SH Put DEFINED 02 0 2539 0
SHANDA INTERACTIVE ENTMT LTD SPONSORED ADR 81941Q203 401 439 SH Call DEFINED 02 0 439 0
SHIRE PHARMACEUTICALS GRP PL SPONSORED ADR 82481R106 884 26963 SH DEFINED 02 0 26963 0
SIEBEL SYS INC COM 826170102 631 70900 SH DEFINED 02 0 70900 0
SIGMA ALDRICH CORP COM 826552101 219 511 SH Put DEFINED 02 0 511 0
SINA CORP ORD G81477104 225 381 SH Call DEFINED 02 0 381 0
SINGING MACH INC COM NEW 829322304 11 15880 SH DEFINED 01 0 15880 0
SIX FLAGS INC COM 83001P109 792 170405 SH DEFINED 01 0 170405 0
SMITH A O COM 831865209 323 12080 SH DEFINED 01 0 12080 0
SMITH INTL INC COM 832110100 536 8407 SH DEFINED 02 0 8407 0
SOFTWARE HOLDRS TR DEPOSITRY RCPT 83404B103 271 7700 SH DEFINED 02 0 7700 0
SONICWALL INC COM 835470105 123 22938 SH DEFINED 02 0 22938 0
SONUS NETWORKS INC COM 835916107 137 28610 SH DEFINED 02 0 28610 0
SOUTHERN CO COM 842587107 366 10546 SH DEFINED 02 0 10546 0
SOUTHWEST AIRLS CO COM 844741108 197 14146 SH DEFINED 02 0 14146 0
SOUTHWESTERN ENERGY CO COM 845467109 377 371 SH Call DEFINED 02 0 371 0
SPRINT CORP COM FON 852061100 815 2875 SH Call DEFINED 02 0 2875 0
SPX CORP COM 784635104 3133 68144 SH DEFINED 02 0 68144 0
ST JUDE MED INC COM 790849103 377 8636 SH DEFINED 01 0 8636 0
ST PAUL TRAVELERS INC COM 792860108 202 5099 SH DEFINED 02 0 5099 0
STATE STR CORP COM 857477103 484 10023 SH DEFINED 01 0 10023 0
STEEL DYNAMICS INC COM 858119100 414 15775 SH DEFINED 02 0 15775 0
STILLWATER MNG CO COM 86074Q102 88 11857 SH DEFINED 02 0 11857 0
STMICROELECTRONICS N V NY REGISTRY 861012102 191 12013 SH DEFINED 02 0 12013 0
STONE ENERGY CORP COM 861642106 489 10002 SH DEFINED 02 0 10002 0
STREETTRACKS SER TR TOTAL MKT ETF 86330E885 3151 36700 SH DEFINED 02 0 36700 0
SUNCOR ENERGY INC COM 867229106 201 4238 SH DEFINED 01 0 4238 0
SUNCOR ENERGY INC COM 867229106 2716 57400 SH DEFINED 02 0 57400 0
SUNOCO INC COM 86764P109 1723 15154 SH DEFINED 02 0 15154 0
SUNOCO INC COM 86764P109 1297 387 SH Call DEFINED 02 0 387 0
SUPERIOR INDS INTL INC COM 868168105 360 15196 SH DEFINED 02 0 15196 0
SYBASE INC COM 871130100 403 21952 SH DEFINED 02 0 21952 0
SYNAPTICS INC COM 87157D109 386 18078 SH DEFINED 02 0 18078 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 94 10300 SH DEFINED 02 0 10300 0
TALBOTS INC COM 874161102 207 6387 SH DEFINED 02 0 6387 0
TARGET CORP COM 87612E106 355 6526 SH DEFINED 02 0 6526 0
TCW CONV SECS FD INC COM 872340104 73 14595 SH DEFINED 01 0 14595 0
TECH DATA CORP COM 878237106 493 13461 SH DEFINED 02 0 13461 0
TELEFONOS DE MEXICO S A SPON ADR ORD L 879403780 1587 84000 SH DEFINED 02 0 84000 0
TELESP CELULAR PART S A SPON ADR PFD 87952L108 57 13381 SH DEFINED 01 0 13381 0
TENGASCO INC COM NEW 88033R205 11 44052 SH DEFINED 01 0 44052 0
TERADYNE INC COM 880770102 223 18637 SH DEFINED 02 0 18637 0
TERRA INDS INC COM 880915103 71 10401 SH DEFINED 02 0 10401 0
TETON PETE CO COM NEW 88162A205 153 35962 SH DEFINED 01 0 35962 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 842 27036 SH DEFINED 02 0 27036 0
TEXAS INSTRS INC COM 882508104 787 28048 SH DEFINED 02 0 28048 0
TIME WARNER INC COM 887317105 2845 170231 SH DEFINED 02 0 170231 0
TJX COS INC NEW COM 872540109 336 13783 SH DEFINED 02 0 13783 0
TODCO CL A 88889T107 526 20500 SH DEFINED 02 0 20500 0
TOTAL S A SPONSORED ADR 89151E109 509 4357 SH DEFINED 01 0 4357 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 361 5046 SH DEFINED 01 0 5046 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 2589 36208 SH DEFINED 02 0 36208 0
TRANSOCEAN INC ORD G90078109 3179 3431 SH Call DEFINED 02 0 3431 0
TURBOCHEF TECHNOLOGIES INC COM NEW 900006206 219 1004 SH Call DEFINED 02 0 1004 0
TXU CORP COM 873168108 204 2460 SH DEFINED 02 0 2460 0
TYCO INTL LTD NEW COM 902124106 1672 57268 SH DEFINED 01 0 57268 0
U S G CORP COM NEW 903293405 684 16101 SH DEFINED 02 0 16101 0
ULTRA PETROLEUM CORP COM 903914109 10012 329768 SH DEFINED 02 0 329768 0
ULTRA PETROLEUM CORP COM 903914109 353 884 SH Call DEFINED 02 0 884 0
UNIONBANCAL CORP COM 908906100 279 4172 SH DEFINED 01 0 4172 0
UNITED INDL CORP COM 910671106 625 17500 SH DEFINED 02 0 17500 0
UNITED PARCEL SERVICE INC CL B 911312106 540 7802 SH DEFINED 02 0 7802 0
UNITEDHEALTH GROUP INC COM 91324P102 725 1960 SH Call DEFINED 02 0 1960 0
UNOCAL CORP COM 915289102 535 945 SH Call DEFINED 02 0 945 0
UNOCAL CORP COM 915289102 1841 28307 SH DEFINED 02 0 28307 0
VALASSIS COMMUNICATIONS INC COM 918866104 415 11200 SH DEFINED 02 0 11200 0
VALERO ENERGY CORP NEW COM 91913Y100 202 2548 SH DEFINED 02 0 2548 0
VANGUARD INDEX TR EXT MKT VIPERS 922908652 838 9900 SH DEFINED 02 0 9900 0
VANGUARD INDEX TR SMLL CP VIPERS 922908751 340 6000 SH DEFINED 02 0 6000 0
VANGUARD INTL EQUITY INDEX F EMR MKT VIPERS 922042858 2703 55075 SH DEFINED 02 0 55075 0
VANGUARD INTL EQUITY INDEX F EURO VIPERS 922042874 5681 116000 SH DEFINED 02 0 116000 0
VANGUARD INTL EQUITY INDEX F PACIFIC VIPERS 922042866 2836 58400 SH DEFINED 02 0 58400 0
VEECO INSTRS INC DEL COM 922417100 232 14259 SH DEFINED 02 0 14259 0
VENTANA MED SYS INC COM 92276H106 236 5874 SH DEFINED 02 0 5874 0
VERIZON COMMUNICATIONS COM 92343V104 256 7411 SH DEFINED 02 0 7411 0
VIRAGEN INC COM NEW 927638403 7 10685 SH DEFINED 01 0 10685 0
VISTEON CORP COM 92839U107 414 68640 SH DEFINED 01 0 68640 0
WACHOVIA CORP 2ND NEW COM 929903102 217 4383 SH DEFINED 01 0 4383 0
WAL MART STORES INC COM 931142103 2207 45782 SH DEFINED 02 0 45782 0
WAL MART STORES INC COM 931142103 375 2400 SH Call DEFINED 02 0 2400 0
WALGREEN CO COM 931422109 807 17543 SH DEFINED 02 0 17543 0
WASHINGTON GROUP INTL INC COM NEW 938862208 2244 43887 SH DEFINED 02 0 43887 0
WASHINGTON MUT INC COM 939322103 345 8469 SH DEFINED 02 0 8469 0
WASHINGTON POST CO CL B 939640108 400 479 SH DEFINED 01 0 479 0
WASTE MGMT INC DEL COM 94106L109 1140 40211 SH DEFINED 01 0 40211 0
WATSCO INC COM 942622200 454 10662 SH DEFINED 02 0 10662 0
WEATHERFORD INTERNATIONAL LT COM G95089101 244 472 SH Call DEFINED 02 0 472 0
WEATHERFORD INTERNATIONAL LT COM G95089101 367 6337 SH DEFINED 02 0 6337 0
WEBEX COMMUNICATIONS INC COM 94767L109 234 8846 SH DEFINED 02 0 8846 0
WEBMD CORP COM 94769M105 112 10878 SH DEFINED 02 0 10878 0
WEIGHT WATCHERS INTL INC NEW COM 948626106 278 422 SH Call DEFINED 02 0 422 0
WELLS FARGO & CO NEW COM 949746101 1478 24004 SH DEFINED 02 0 24004 0
WENDYS INTL INC COM 950590109 292 6138 SH DEFINED 02 0 6138 0
WESTERN WIRELESS CORP CL A 95988E204 823 19467 SH DEFINED 02 0 19467 0
WESTERN WIRELESS CORP CL A 95988E204 513 318 SH Call DEFINED 02 0 318 0
WEYERHAEUSER CO COM 962166104 801 12588 SH DEFINED 02 0 12588 0
WHIRLPOOL CORP COM 963320106 380 5420 SH DEFINED 02 0 5420 0
WINNEBAGO INDS INC COM 974637100 227 6933 SH DEFINED 01 0 6933 0
WOLVERINE WORLD WIDE INC COM 978097103 405 16882 SH DEFINED 02 0 16882 0
WYETH COM 983024100 411 9244 SH DEFINED 02 0 9244 0
WYNDHAM INTL INC CL A 983101106 17 15406 SH DEFINED 01 0 15406 0
XM SATELLITE RADIO HLDGS INC CL A 983759101 351 900 SH Call DEFINED 02 0 900 0
XTO ENERGY INC COM 98385X106 526 15471 SH DEFINED 02 0 15471 0
YAHOO INC COM 984332106 907 26180 SH DEFINED 02 0 26180 0
YAHOO INC COM 984332106 254 889 SH Call DEFINED 02 0 889 0
YORK INTL CORP NEW COM 986670107 491 12920 SH DEFINED 01 0 12920 0
ZEBRA TECHNOLOGIES CORP CL A 989207105 249 5696 SH DEFINED 02 0 5696 0
ZIONS BANCORPORATION COM 989701107 258 3512 SH DEFINED 02 0 3512 0