13F-HR 1 c53036e13fvhr.txt 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 06/30/2009 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: Howe Barnes Capital Management, Inc. Address: 555 Market St. 18th Floor San Francisco, CA 94105 Form 13F File Number: 28- 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 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: Daane Etheridge Title: Advent/Axys Specialist Phone: (312) 655-2740 Signature, Place, and Date of Signing: By: /s/ Daane Etheridge City: San Francisco, CA 06/30/2009 Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 322 FORM 13F INFORMATION TABLE

BAXTER INTL INC COM 071813109 429 8109 SH SOLE 8109 BECTON DICKINSON CO COM 075887109 263 3700 SH SOLE 3700 BED BATH & BEYOND INC COM 075896100 1230 40032 SH SOLE 40032 BERKSHIRE HATHAWAY CLB COM 084670207 11197 3867 SH SOLE 3867 20 7 SH DEFINED 7 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 4860 54 SH SOLE 54 BLACKROCK SR HIGH INCOMEFD INC COM 09255t109 36 12004 SH SOLE 12004 BLACKSTONE GROUP LP COM 09253U108 152 14504 SH SOLE 14504 BOARDWALK PIPELINE PARTNERS LP COM 096627104 259 11500 SH SOLE 11500 BOEING CO COM 097023105 602 14175 SH SOLE 14175 BOSTON PRIVATE BANCORP INC CMN COM 101119105 67 15000 SH SOLE 15000 BP PLC SPONSOREDADR COM 055622104 2513 52720 SH SOLE 52720 BRE PPTYS INC MARYLAND AREIT COM 05564e106 570 24022 SH SOLE 24022 BRISTOL MYERS SQUIBB COM 110122108 523 25787 SH SOLE 25787 BROADRIDGE FINANCIALSOLUTIONS COM 11133t103 319 19272 SH SOLE 19272 BURLINGTON NORTHERN SANTAFE CO COM 12189t104 5222 71022 SH SOLE 71022 18 250 SH DEFINED 250 CAMPBELL SOUP CO COM 134429109 506 17200 SH SOLE 17200 CANON INC ADR COM 138006309 2237 68789 SH SOLE 68789 CARNIVALCORP PAIRED CTF 1 COM COM 143658300 616 23925 SH SOLE 23925 CARTER INC COM COM 146229109 347 14100 SH SOLE 14100 CASTLE A M & CO COM 148411101 251 20806 SH SOLE 20806 CATERPILLAR INC DEL COM 149123101 1767 53485 SH SOLE 53485 CENTRAL BANCSHARES INC TEX CMT COM 152424107 627 209 SH SOLE 209 CHESAPEAKE ENERGY CORP COM 165167107 588 29680 SH SOLE 29680 CHEVRON CORP COM 166764100 10274 155085 SH SOLE 155085 CHRISTOPHER & BANKS CORP COM 171046105 115 17200 SH SOLE 17200 CHURCH& DWIGHT INC COM 171340102 343 6325 SH SOLE 6325 CINTAS CORP COM 172908105 258 11300 SH SOLE 11300 CISCO SYS INC COM 17275r102 6267 336035 SH SOLE 336035 CITIGROUP INC COM 172967101 62 20984 SH SOLE 20984 CLOROX CO DEL COM COM 189054109 2884 51665 SH SOLE 51665

CMEGROUP INC COM 12572q105 609 1960 SH SOLE 1960 COBRA ELECTRS CORP COM 191042100 11 10000 SH SOLE 10000 COCA COLA CO COM 191216100 1407 29337 SH SOLE 29337 COHEN & STEERS REIT AND PFD IN COM 19247X100 91 12526 SH SOLE 12526 COLGATE-PALMOLIVE CO COM 194162103 206 2925 SH SOLE 2925 COMCAST CORP NEW CLA COM 20030n101 1471 101748 SH SOLE 101748 COMCAST CORP NEW CLA SPL COM 20030n200 234 16620 SH SOLE 16620 CONOCOPHILLIPS COM 20825c104 2307 54867 SH SOLE 54867 COPART INC COM 217204106 645 18610 SH SOLE 18610 CORNING INC COM 219350105 355 22153 SH SOLE 22153 COSTCO WHOLESALE CORP COM 22160k105 2515 54940 SH SOLE 54940 CVS CAREMARK CORP COM 126650100 3217 100951 SH SOLE 100951 DANAHER CORP COM 235851102 222 3610 SH SOLE 3610 DEERE & COMPANY COM 244199105 342 8584 SH SOLE 8584 DELL INC COM 24702r101 205 14976 SH SOLE 14976 DISCOVER FINL SVCS COM 254709108 171 16700 SH SOLE 16700 DISNEY (WALT) CO COM STK COM 254687106 726 31139 SH SOLE 31139 DOLLAR FINL CORP COM COM 146 10655 SH SOLE 10655 DOMINION RESOURCES INCVA NEW COM 25746u109 307 9200 SH SOLE 9200 DOVER CORP COM 260003108 522 15800 SH SOLE 15800 DOW CHEMICAL CO COM 260543103 204 12687 SH SOLE 12687 DU PONT E I DE NEMOURS& CO COM 263534109 326 12741 SH SOLE 12741 DUKE ENERGY CORP NEW COM 26441c105 1177 80705 SH SOLE 80705 DYNEGY INC CL A COM COM 26817G102 254 112017 SH SOLE 112017 E M C CORP MASS COM 268648102 363 27750 SH SOLE 27750 EMERITUS CORP COM 291005106 317 24020 SH SOLE 24020 EMERSON ELECTRIC CO COM 291011104 385 11898 SH SOLE 11898 EMPLOYERS HOLDINGS INC COM COM 149 11025 SH SOLE 11025 ENBRIDGE ENERGY PARTNERS LP COM 29250R106 266 6900 SH SOLE 6900 ENERGY TRANSFER PARTNERSLP UT COM 29273r109 218 5400 SH SOLE 5400 ENTERPRISE PRODUCTS PARTNERS COM 293792107 551 22100 SH SOLE 22100

EVIRONMENTAL OIL PROCESSING TE COM 29407q100 0 75000 SH SOLE 75000 EXELON CORP COM 30161n101 578 11296 SH SOLE 11296 EXXON MOBIL CORP COM COM 30231g102 5397 77204 SH SOLE 77204 FAMILY DOLLAR STORES COM 307000109 524 18524 SH SOLE 18524 FARMERS & MERCHANTS BANK LONG COM 308243104 610 172 SH SOLE 172 FEDEX CORP DELAWARE COM COM 31428x106 2133 38365 SH SOLE 38365 FIRST CASH FIN'L SVCS INC (FOR COM 31942D107 275 15700 SH SOLE 15700 FIRST MIDWEST BANCORP INC ILL. COM 320867104 224 30649 SH SOLE 30649 FIRSTENERGY CORP COM 337932107 248 6415 SH SOLE 6415 FMC CORP NEW COM 302491303 406 8600 SH SOLE 8600 FOAMEX INTERNATIONAL INC COM 344123203 0 50000 SH SOLE 50000 FORD MOTOR CO COM COM 345370860 102 16841 SH SOLE 16841 FORMATION CAPITAL INC COM 34637L103 27 100000 SH SOLE 100000 FORTUNE BRANDS INC COM 349631101 478 13760 SH SOLE 13760 FRANKLIN RES INC COM 354613101 331 4600 SH SOLE 4600 FREEPRT-MCMRAN CPR & GLD COM 35671d857 1072 21400 SH SOLE 21400 GENERAL ELECTRIC COM 369604103 4557 388839 SH SOLE 388839 GENERAL MILLS COM 370334104 1420 25353 SH SOLE 25353 GENESIS LEASE LTD ADS COM 37183T107 560 130000 SH SOLE 130000 GILEAD SCIENCES INC COM COM 375558103 1002 21410 SH SOLE 21410 GLADSTONE INVESTMENT CORP COM 376546107 139 28852 SH SOLE 28852 GLAXOSMITHKLINE PLC SPONSOREDA COM 37733w105 439 12425 SH SOLE 12425 GOLDMAN SACHS GROUP INC COM 38141g104 301 2045 SH SOLE 2045 GOOGLE INC CLA COM 38259p508 2123 5038 SH SOLE 5038 GP STRATEGIES CORP COM COM 36225V104 58 10000 SH SOLE 10000 GRAINGER W W INC COM 384802104 566 6920 SH SOLE 6920 GROWERS DIRECT COFFEE COM COM 399849108 0 12000 SH SOLE 12000 HANCOCK JOHN TAX ADVANTAGEDIVI COM 41013v100 314 31345 SH SOLE 31345 HANESBRANDS INC COM COM 410345102 230 15351 SH SOLE 15351 HCC INSURANCE HLDGS INC COM 404132102 295 12300 SH SOLE 12300 HENRY JACK & ASSOC INC COM 426281101 222 10731 SH SOLE 10731 HEWLETT-PACKARD CO DE COM 428236103 1930 49953 SH SOLE 49953

HOME DEPOT INC COM 437076102 677 28655 SH SOLE 28655 HONEYWELL INTL INC COM 438516106 264 8410 SH SOLE 8410 HSBC HOLDINGS PLC SPONS ADR COM 404280406 205 4914 SH SOLE 4914 IDEX CORP COM 210 8557 SH SOLE 8557 ILLINOIS TOOL WORKS COM 452308109 927 24848 SH SOLE 24848 IMPERIAL OIL LTD COM NEW COM 203 5294 SH SOLE 5294 INDYMAC BANCORP INC N/C EFF 6/ COM 456607100 0 13766 SH SOLE 13766 ING GLOBAL EQTY DV & P COM COM 223 18990 SH SOLE 18990 INGERSOLL-RAND PLC SHSUSD1 COM g47791101 606 29033 SH SOLE 29033 INGGROEP NV ADR COM 456837103 714 70500 SH SOLE 70500 INTEL CORP COM 458140100 4030 243524 SH SOLE 243524 INTERNATIONAL BUSINESS MACHS C COM 459200101 3200 30651 SH SOLE 30651 INTUIT INC COM 461202103 219 7800 SH SOLE 7800 ISHARES BARCLAYS 20+ YEAR TREA COM 464287432 241 2551 SH SOLE 2551 JOHN BEAN TECHNOLOGIES CORP COM 477839104 211 16900 SH SOLE 16900 JOHNSON AND JOHNSON COM COM 478160104 5599 98574 SH SOLE 98574 JOHNSON CTLS INC COM 478366107 442 20365 SH SOLE 20365 JOY GLOBAL INC COM COM 481165108 325 9100 SH SOLE 9100 JPMORGAN CHASE & CO COM 46625h100 1463 42912 SH SOLE 42912 KELLOGG COMPANY COM 487836108 223 4789 SH SOLE 4789 KELSO TECHNOLOGIES INC COM 0 10000 SH SOLE 10000 KEY ENERGY SERVICES INC COM 492914106 138 24000 SH SOLE 24000 KIMBERLY CLARK CORP COM 494368103 671 12804 SH SOLE 12804 KINDER MORGAN ENERGY PARTNERS COM 494550106 490 9590 SH SOLE 9590 KKR FINL HLDGS LLC COM 48248a306 57 61968 SH SOLE 61968 KRAFT FOODS INC CLA COM 50075n104 817 32275 SH SOLE 32275 LEE ENTERPRISES INC COM 523768109 5 10000 SH SOLE 10000 LEGG MASON INC COM 524901105 310 12750 SH SOLE 12750 LEVEL 3 COMMUNICATIONS INC COM COM 52729N100 40 26599 SH SOLE 26599 LIBERTY ENTERTAINMENT - A COM 53071M500 1319 49424 SH SOLE 49424 LIFE TIME FITNESS INC COM 53217R207 244 12235 SH SOLE 12235

LIFEPOINT HOSPS INC COM COM 53219L109 257 9800 SH SOLE 9800 LILLYELI & CO COM 532457108 572 16516 SH SOLE 16516 LKQ CORP COM COM 165 10040 SH SOLE 10040 MACQUARIE INFRASTRUCTURE COMPA COM 55608B105 77 18800 SH SOLE 18800 MANITOWOC INC COM 563571108 69 13170 SH SOLE 13170 MC GRAW HILL COMPANIES COM 580645109 1702 56545 SH SOLE 56545 MCAFEE INC COM COM 579064106 740 17555 SH SOLE 17555 MCDONALDS CORP COM 580135101 1689 29388 SH SOLE 29388 MCDONNELL DOUGLAS CORP COM 580169100 284 6755 SH SOLE 6755 MDS INC COM COM 218 41000 SH SOLE 41000 MEDTRONIC INC COM 585055106 810 23237 SH SOLE 23237 MERCK & CO INC COM 589331107 387 13866 SH SOLE 13866 MERGE HEALTHCARE INC COM 589499102 206 48000 SH SOLE 48000 MFA MTG INVTS INC COM COM 55272X102 223 32280 SH SOLE 32280 MICROSOFT CORPCOM COM 594918104 4981 209568 SH SOLE 209568 MONSANTO CO NEW DEL COM COM 61166w101 2254 30330 SH SOLE 30330 MORGAN STANLEY COM 617446448 268 9417 SH SOLE 9417 MORGAN STANLEY EMERG MKTS FD I COM 61744G107 164 15028 SH SOLE 15028 MOSAIC CO COM 61945a107 371 8385 SH SOLE 8385 MSC INDUSTRIAL DIRECT CO INC A COM 553530106 204 5765 SH SOLE 5765 MYLAN LABORATORIES INC COM 628530107 180 13825 SH SOLE 13825 NATIONAL LAMPOON INC COM 636637100 55 139700 SH SOLE 139700 NATIONAL PATENT DEV CORP NEW C COM 637132101 41 32000 SH SOLE 32000 NESTLE S A SPONSORED ADR REPST COM 341 9077 SH SOLE 9077 NOKIA OYJ ADR EACH REPR1 EUR0. COM 654902204 1633 112044 SH SOLE 112044 NORFOLK SOUTHERN CRP COM 655844108 291 7740 SH SOLE 7740 NOVARTIS AG ADR-EACH REPR1 CHF COM 66987v109 1054 25861 SH SOLE 25861 NOVATEL WIRELESS INC COM 66987m109 180 20000 SH SOLE 20000 NSTAR COM COM 67019E107 480 14976 SH SOLE 14976 NUVEEN MUNICIPAL VALUE FUND IN COM 670928100 178 19532 SH SOLE 19532 NVIDIA CORP COM COM 67066G104 135 12000 SH SOLE 12000 OMNICELL INC COM 68213N109 154 14400 SH SOLE 14400

ORACLE CORPORATION COM 68389x105 15367 717427 SH SOLE 717427 42 2000 SH DEFINED 2000 ORBITALSCIENCES CORP COM 685564106 175 11600 SH SOLE 11600 O`REILLY AUTOMOTIVE INC COM 686091109 436 11464 SH SOLE 11464 PATTERSON COS INC COM 703395103 1534 70700 SH SOLE 70700 PEPSICO INC COM 713448108 3609 65669 SH SOLE 65669 PERFICIENT INC COM 71375U101 95 13700 SH SOLE 13700 PFIZER INC DEL PV$0.05 COM 717081103 1982 132181 SH SOLE 132181 PHILIP MORRIS INTL INCCOM COM 718172109 1725 39560 SH SOLE 39560 PLUMAS BANCORP COM COM 729273102 64 12990 SH SOLE 12990 PRE PAID LEGAL SVCS INC COM COM 740065107 1259 28900 SH SOLE 28900 PRECISION CASTPARTS CORP COM 740189105 587 8050 SH SOLE 8050 PRIVATEBANCORP INC CMN COM 742962103 920 41400 SH SOLE 41400 PROCTER & GAMBLE CO COM 742718109 5531 108254 SH SOLE 108254 PROFILE TECHS INC COM 743164105 0 13333 SH SOLE 13333 PSS WORLD MEDICAL INC COM 69366A100 245 13240 SH SOLE 13240 PUB SVC ENTERPRISE GRP COM 744573106 434 13312 SH SOLE 13312 QUEST DIAGNOSTICS INC COM 74834l100 3649 64676 SH SOLE 64676 READING INTL INC CL A COM 755408101 4794 1053639 SH SOLE 1053639 12 2700 SH DEFINED 2700 REDWOOD TRUST INC COM 758075402 155 10545 SH SOLE 10545 RESEARCH IN MOTION COMNPV ISIN COM 760975102 796 11200 SH SOLE 11200 RESOURCES CONNECTION INC COM 76122q105 215 12535 SH SOLE 12535 RITE AID CORP COM 767754104 31 20585 SH SOLE 20585 ROCKWELL MED TECH INC COM 774374102 572 75800 SH SOLE 75800 ROYAL DUTCH SHELL ADREA REP 2 COM 780259206 1334 26581 SH SOLE 26581 S & P 500 DEPOSITORY RECEIPT COM 78462f103 599 6515 SH SOLE 6515 SAMSON OIL & GAS LTD ADR COM 796043107 0 410444 SH SOLE 410444 SANSWIRE CORP COM COM 1 14000 SH SOLE 14000 SARA LEE CORP COM 803111103 279 28629 SH SOLE 28629 SCHIMATIC TECH INC COM 806732103 0 10000 SH SOLE 10000

SCHLUMBERGER LIMITED COMSTK US COM 806857108 385 7124 SH SOLE 7124 SCHWAB CHARLES CP NEW COM COM 808513105 764 43578 SH SOLE 43578 SEI INVESTMENTS CO COM COM 784117103 4593 254626 SH SOLE 254626 SHERWIN WILLIAMS CO COM 824348106 294 5484 SH SOLE 5484 SILICON LABORATORIES INC COM 826919102 425 11195 SH SOLE 11195 SKY WEST INC COM COM 830879102 148 14600 SH SOLE 14600 SOURCE CAP INC COM 836144105 3532 102090 SH SOLE 102090 SOUTHERN CO COM COM 842587107 246 7900 SH SOLE 7900 SPECTRUM CONTROL INC COM 847615101 114 13000 SH SOLE 13000 SPONGETECH DELIVERY SYS COM 849109103 19 162000 SH SOLE 162000 SPRINT NEXTEL CORP COM FON COM 852061100 79 16605 SH SOLE 16605 ST JUDE MEDICAL INC COM 790849103 909 22132 SH SOLE 22132 STANDARD CHARTERED PLC COM G84228157 190 10000 SH SOLE 10000 STAPLES INC COM 855030102 4585 227226 SH SOLE 227226 STATE STREET CORP COM 857477103 618 13108 SH SOLE 13108 STERICYCLE INC COM 858912108 1114 21625 SH SOLE 21625 STORM EXPLORATION INC COM 86217p102 186 18500 SH SOLE 18500 SUN HEALTHCARE GROUP INC COM 866933401 84 10000 SH SOLE 10000 SUN MICROSYSTEMS INC COMNEW COM 866810203 106 11525 SH SOLE 11525 SURETY CAPITAL CORP-NEW COM 868666207 0 16600 SH SOLE 16600 SYSCO CORP COM 871829107 1924 85595 SH SOLE 85595 TARGET CORP COM COM 87612e106 2202 55794 SH SOLE 55794 TELLABSINC COM 879664100 83 14500 SH SOLE 14500 TEMPLETON EMERGING MKTS FUND I COM 880191101 251 17713 SH SOLE 17713 TEXAS INSTRUMENTS INC COM 882508104 1563 73400 SH SOLE 73400 THERMO FISHER SCIENTIFICINC COM 883556102 901 22118 SH SOLE 22118 THOMSON REUTERS PLC SPONSORED COM 885141101 255 1488 SH SOLE 1488 TORONTO DOMINION BK ONT COM NE COM 891160509 253 4894 SH SOLE 4894 TOTAL S A SPONADR COM 89151e109 238 4392 SH SOLE 4392 TYCO ELECTRONICS LTD COMCHF2.6 COM h8912p106 916 49325 SH SOLE 49325 TYCO INTERNATIONAL LTD(SWITZER COM h89128104 1265 48721 SH SOLE 48721 UCBH HLDGS INC COM 90262t308 201 160175 SH SOLE 160175

ULTRA FINANCIAL PROSHRS COM 74347R743 625 162000 SH SOLE 162000 ULTRA PURE WATER TECH COM 90388Q105 4 104000 SH SOLE 104000 ULTRA REAL ESTATE PROSHS COM 74347R677 39 11000 SH SOLE 11000 ULTRA RUSSELL 2000 PROSHARES E COM 74347R842 192 10000 SH SOLE 10000 UNILEVER N V ISIN#US9047847093 COM 904784709 209 8664 SH SOLE 8664 UNION PACIFIC CORP COM 907818108 686 13181 SH SOLE 13181 UNITED PARCEL SVC INCCL B COM 911312106 253 5062 SH SOLE 5062 UNITED TECHS CORP COM COM 913017109 6025 115959 SH SOLE 115959 UNITEDHEALTH GROUP COM 91324p102 1221 48880 SH SOLE 48880 US BANCORP (NEW) COM 902973304 3145 175545 SH SOLE 175545 VALASSIS COMMUNICATIONS INC COM 918866104 63 10400 SH SOLE 10400 VARIAN INC COM COM 922206107 309 7850 SH SOLE 7850 VASAMED INC - RESTRICTED COM 003721733 1 14233 SH SOLE 14233 VERISIGN INC COM 92343e102 636 34376 SH SOLE 34376 VERIZON COMMUNICATIONS COM 92343v104 917 29860 SH SOLE 29860 VIACOMINC NEW CL B COM 92553p201 458 20180 SH SOLE 20180 VIRAGEN INC COM 927638403 0 14800 SH SOLE 14800 VISA INC COM CL A COM 92826c839 252 4051 SH SOLE 4051 WAL-MART STORES INC COM 931142103 770 15901 SH SOLE 15901 WALGREEN COMPANY COM 931422109 2073 70528 SH SOLE 70528 WD 40 CO COM 929236107 658 22700 SH SOLE 22700 WELLS FARGO & CO NEW DEL COM 949746101 11751 484400 SH SOLE 484400 WESTERN UNION CO COM COM 959802109 240 14651 SH SOLE 14651 WHITE ELECTRONIC DESIGNS CORP COM 963801105 86 18500 SH SOLE 18500 WILLIAMS PARTNERS LP COM 96950F104 206 11427 SH SOLE 11427 WILLIAMSCOS INC COM 969457100 286 18350 SH SOLE 18350 WINDSTREAMCORP COM COM 97381w104 114 13755 SH SOLE 13755 WING HANG BANK LTD SHS ISIN#HK COM Y9588K109 1314 150000 SH SOLE 150000 WOLVERINE WORLD WIDE INC COM 260 11800 SH SOLE 11800 WORLD ACCEPTANCE CORP COM 981419104 265 13345 SH SOLE 13345 WYETH COM 983024100 2222 48962 SH SOLE 48962

XEROXCORP COM 984121103 661 102090 SH SOLE 102090 ZEP INC COM 98944B108 184 15300 SH SOLE 15300 ZIMMER HLDGS INC COM 98956p102 1364 32041 SH SOLE 32041 SCOTTISH POWER PLC SPONSORED A 81013T705 76 10000 SH SOLE 10000 BUCKEYE PARTNERS L.P LPUS 118230101 796 18600.000 SH SOLE 18600.000 CEDAR FAIR, L.P.DEP UNIT LPUS 150185106 375 34333.000 SH SOLE 34333.000 ENBRIDGE ENERGY PARTNERSLP LPUS 29250r106 335 8700.000 SH SOLE 8700.000 KINDER MORGAN ENERGY PARTNERSL LPUS 494550106 1695 33166.00 SH SOLE 33166.000 MAGNETIC PULSE INC PFD SER C PRD 558998951 12 12000 SH SOLE 12000 PRIVATEBANC CAP 9.50% TR I 12/ PRD 74268e200 1062 46200 SH SOLE 46200 PROTATEK INTERNATIONAL PFD PRD 743645202 0 30000 SH SOLE 30000 US BANCORP DEL PFD1/1000SER D PRD 200 8046 SH SOLE 8046 ICBA CAP MKT TR SER 1 00767P545 52 16352.0000 SH SOLE 16352.0000 ISHARES TR DOW JONES US CONSUM 464287812 308 6603.5287 SH SOLE 6603.5287 ISHARES TR DOW JONES US CONSUM 464287580 233 5273.5450 SH SOLE 5273.5450 ISHARES TR DOW JONES US ENERGY 464287796 375 13110.9446 SH SOLE 13110.9446 ISHARES TR DOW JONES US HEALTH 464287762 584 10808.7191 SH SOLE 10808.7191 ISHARES TR DOW JONES US INDL S 464287754 541 12991.5782 SH SOLE 12991.5782 ISHARES TR DOW JONES USTECHNOL 464287721 856 19245.5983 SH SOLE 19245.5983 ISHARES TR MSCIEAFE INDEX FD 464287465 909 19858.4553 SH SOLE 19858.4553 ISHARES TR MSCIEMERGING MKTS I 464287234 278 8646.8026 SH SOLE 8646.8026 ISHARES TR NASDAQ BIOTECHNOLOG 464287556 607 8348.2459 SH SOLE 8348.2459 ISHARES TR RUSSELL 1000GROWTH 464287614 201 4904.3480 SH SOLE 4904.3480 ISHARES TR RUSSELL 2000INDEX F 464287655 357 6999.1863 SH SOLE 6999.1863 ISHARES TR RUSSELL MIDCAPINDEX 464287499 471 7197.0911 SH SOLE 7197.0911 ISHARES TR S&P 500 INDEXFD 464287200 300 3257.5010 SH SOLE 3257.5010 ISHARES TR S&P EUROPE350 INDEX 464287861 463 14773.6395 SH SOLE 14773.6395 ISHARES TR S&P GLOBALCLEAN ENE 464288224 399 17500.0000 SH SOLE 17500.0000 MUNICIPAL INVT TR FD UT MUN DE 62624v859 39 50265.0000 SH SOLE 50265.0000 SECTOR SPDR TR SHS BENINT FINA 81369y605 581 48680.9208 SH SOLE 48680.9208 SPDR SER TR S&PBIOTECH ETF 78464a870 2162 42687.9680 SH SOLE 533.000042154.9680 VANGUARD EMERGING MKTSVIPERS 922042858 4832 151880.6730 SH SOLE 1257.0000150623.6730

VANGUARD INDEX FDS FORMERLYVAN 922908553 1195 38549.5620 SH SOLE 1211.000037338.5620 VANGUARD INDEX FDS VANGUARDMID 922908629 3908 83488.9500 SH SOLE 83488.9500 VANGUARD INDEX FDS VANGUARDSMA 922908751 2164 47313.6800 SH SOLE 47313.6800 VANGUARD INTL EQUITY INDEXFD I 922042775 9496 264457.8940 SH SOLE 264457.8940 VANGUARD SECTOR INDEXFDS CONSU 92204a108 2134 59168.1400 SH SOLE 59168.1400 VANGUARD SECTOR INDEXFDS CONSU 92204a207 2801 48561.1820 SH SOLE 48561.1820 VANGUARD SECTOR INDEXFDS VANGU 92204a306 2808 40139.3290 SH SOLE 40139.3290 VANGUARD SECTOR INDEXFDS VANGU 92204a405 2773 115200.5490 SH SOLE 115200.5490 VANGUARD SECTOR INDEXFDS VANGU 92204a504 3598 77312.2200 SH SOLE 77312.2200 VANGUARD SECTOR INDEXFDS VANGU 92204a603 2711 66385.9850 SH SOLE 66385.9850 VANGUARD SECTOR INDEXFDS VANGU 92204a702 4009 94169.1600 SH SOLE 94169.1600 VANGUARD SECTOR INDEXFDS VANGU 92204a801 996 19159.2790 SH SOLE 19159.2790

Howe Barnes Capital Management, Inc. 13F-HR