13F-HR 1 ips1231-13f.txt 12-31-2002 FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2002 ------------------------- 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: IPS Advisory, Inc. Address: 1225 Wesgarber Road Suite S-380 Knoxville, Tennessee 37902 Form 13F File Number: 28-5261 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: Gregory D'Amico Title: President Phone: (800) 232-9142 Signature, Place, and Date of Signing: Gregory D'Amico Knoxville, Tennessee 01/29/03 -------------------------- ----------------------- ----------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report). [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s)). [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s)). List of Other Managers Reporting for this Manager: NONE Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None ------------------------- Form 13F Information Table Entry Total: 79 ------------------------- Form 13F Information Table Value Total: $ 103,180 ------------------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE -2- FORM 13F INFORMATION TABLE --------------------------

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 VOTING AUTHORITY -------------------- TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER CLASS CUSIP (x$1,000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ----- ----- --------- -------- --- ---- ---------- -------- ---- ------ ---- ~~ACE~~3M ~~LTD~~ COM ~~G0070K103~~88579Y101 ~~296~~1233 10000 SH SOLE 10000 ~~ADOBE~~ALLTEL ~~SYSTEMS~~ COM ~~00724F101~~020039103 ~~137~~510 ~~7150~~10000 SH SOLE ~~7150~~10000 ~~AFFILIATED~~AMERIGROUP ~~COMPUTER~~CORPORATION ~~SVCS~~ COM ~~008190100~~03073T102 432592 ~~1000~~85505 SH SOLE ~~1000~~85505 ~~AMDOCS~~AMERISOURCE ~~LTD~~BERGEN COM ~~G02602103~~0307E3105 ~~128~~3066 ~~20000~~56455 SH SOLE ~~20000~~56455 ~~AMERICAN~~ANGELICA ~~EXPRESS~~ COM ~~025816109~~034663104 ~~217~~826 ~~6950~~40000 SH SOLE ~~6950~~40000 ~~AMERICAN~~ANTHEM ~~INT'L~~INC ~~GROUP~~ COM ~~026874107~~03674B104 ~~1999~~126 ~~36545~~2000 SH SOLE ~~36545~~2000 ~~AMERISOURCE~~AUTOZONE ~~BERGEN~~ COM ~~3.07E+108~~053332102 ~~2624~~2120 ~~36745~~30000 SH SOLE ~~36745~~30000 ~~ANGELICA~~BORDERS ~~COM~~GROUP ~~034663104 215 10000 SH SOLE 10000 ANN TAYLOR STORES~~ COM ~~036115103~~099709107 35757 ~~1500~~47000 SH SOLE ~~1500~~47000 ~~BEST~~BURLINGTON ~~BUY~~NORTHERN ~~COM~~SANTA ~~086516101~~FE ~~178 8000 SH SOLE 8000 BP P.L.C.~~ COM ~~055622104~~12189T104 ~~1624~~195 ~~40695~~7500 SH SOLE ~~40695~~7500 ~~BURLINGTON~~CACI ~~NORTHERN~~INTERNATIONAL ~~SANTA FE~~ COM ~~12189T104~~127190304 ~~179~~784 ~~7500~~22000 SH SOLE ~~7500~~22000 CANADIAN NATIONAL RAILWAY COM 136375102 ~~747~~831 20000 SH SOLE 20000 CANADIAN PACIFIC RAILWAY COM 13645T100 ~~757~~818 41500 SH SOLE 41500 CATERPILLAR COM 149123101 ~~1816~~217 ~~48795~~4745 SH SOLE ~~48795~~4745 CHELSEA PROPERTY GROUP COM 163421100 ~~1958~~2198 ~~58000~~66000 SH SOLE ~~58000~~66000 CHICO'S FAS INC COM 168615102 6478 ~~4000~~4115 SH SOLE ~~4000~~4115 CHOICEPOINT COM 170388102 ~~1592~~342 ~~44666~~8666 SH SOLE ~~44666~~8666 ~~CITY NATIONAL COM 178566105 935 20000 SH SOLE 20000~~ CLEAR CHANNEL COM 184502102 ~~3134~~2340 ~~90175~~62755 SH SOLE ~~90175~~62755 ~~COACH INC COM 189754104 51 2000 SH SOLE 2000~~ COMMERCE GROUP COM 200641108 ~~663~~206 ~~20500~~5500 SH SOLE ~~20500~~5500 COMVERSE TECH COM 205862402 ~~419~~1464 ~~60000~~146135 SH SOLE ~~60000~~146135 CONCORD EFS COM 206197105 ~~1464~~64 ~~92165~~4080 SH SOLE ~~92165~~4080 CONSTELLATION ENERGY COM 210371100 ~~1364~~398 ~~55035~~14315 SH SOLE ~~55035~~14315 ~~CUMMINS~~DEL ~~INC~~MONTE ~~COM~~FOODS ~~231021106 96 4050 SH SOLE 4050 CURTISS-WRIGHT~~ COM ~~231561101~~24522P103 ~~598~~66 ~~10000~~8630 SH SOLE ~~10000~~8630 ~~DEERE & Co. COM 244199105 250 5500 SH SOLE 5500~~ DENTSPLY ~~INT'l~~INTERNATIONAL COM 249030107 ~~273~~3980 ~~6800~~106985 SH SOLE ~~6800~~106985 DOLE FOOD CO INC COM 256605106 ~~238~~267 8200 SH SOLE 8200 ~~DOMINION RESOURCES VA COM 25746U109 1522 30000 SH SOLE 30000~~ DUKE ENERGY COM 264399106 ~~299~~129 ~~15305~~6585 SH SOLE ~~15305~~6585 EASTMAN KODAK COM 277461109 ~~1208~~1051 ~~44335~~30000 SH SOLE ~~44335~~30000 EBAY COM 278642103 5368 1000 SH SOLE 1000 ELECTRONIC ARTS COM 285512109 ~~2770~~52 ~~42000~~1035 SH SOLE ~~42000~~1035 ~~ESS TECHNOLOGY COM 269151106 80 13000 SH SOLE 13000~~ EXPEDITORS ~~INT'L~~INTERNATIONAL COM 302130109 ~~1165~~1296 ~~41700~~39700 SH SOLE ~~41700~~39700 ~~FIDELITY NATL FINANCIAL COM 316326107 585 20369 SH SOLE 20369~~ FIRST ~~DATA COM 319963104 56 2000 SH SOLE 2000 FIRST~~ HEALTH GROUP COM 320960107 54584 ~~2000~~24000 SH SOLE ~~2000~~24000 FORTUNE BRANDS COM 349631101 ~~993~~3431 ~~21000~~73765 SH SOLE ~~21000~~73765 FPL GROUP COM 302571104 ~~2367~~1443 ~~44000~~24000 SH SOLE ~~44000~~24000 GANNETT CO COM 364730101 ~~2382~~3159 ~~33000~~44000 SH SOLE ~~33000~~44000 GENERAL GROWTH PROPERTIES COM 370021107 ~~3224~~2732 ~~62610~~52540 SH SOLE ~~62610~~52540 ~~HARTFORD~~GENUINE ~~FINANCIAL~~PARTS COM ~~416515104~~372460105 ~~119~~863 ~~2900~~28020 SH SOLE ~~2900~~28020 ~~HEALTH~~H&R ~~CARE~~BLOCK ~~PPTY~~ COM ~~421915109~~093671105 ~~1522~~1206 ~~35725~~30000 SH SOLE ~~35725~~30000 ~~HEARST-ARGYLE~~H.J. ~~TELEVISION~~HEINZ COM ~~422317107~~423074103 ~~1615~~1295 ~~65000~~39405 SH SOLE ~~65000~~39405 ~~HOLLYWOOD~~HEALTH ~~ENTERTAINMENT~~CARE PPTY COM ~~436141105~~421915109 ~~552~~200 ~~38000~~5225 SH SOLE ~~38000~~5225 ~~HONEYWELL~~HEARST-ARGYLE ~~INTL~~TELEVISION COM ~~438516106~~422317107 ~~785~~1808 ~~36250~~75000 SH SOLE ~~36250~~75000 ~~HUBBELL~~HOLLYWOOD ~~INC~~ENTERTAINMENT COM ~~443510201~~436141105 ~~1642~~529 ~~56500~~35000 SH SOLE ~~56500~~35000 ~~ILLINOIS~~HUBBELL ~~TOOL~~INC ~~WORKS~~ COM ~~452308109~~443510201 ~~276~~228 ~~4735~~6500 SH SOLE ~~4735~~6500 INTERNATIONAL PAPER CO COM 460146103 ~~187~~175 ~~5590~~5005 SH SOLE ~~5590~~5005 KELLOGG CO COM 487836108 ~~1054~~1916 ~~31700~~55920 SH SOLE ~~31700~~55920 KIMBERLY -CLARK COM 494368103 ~~2178~~1128 ~~38460~~23755 SH SOLE ~~38460~~23755 ~~KRAFT COM 50075N104 729 20000 SH SOLE 20000~~ L3 COMM COM 502424104 ~~2034~~2185 ~~38600~~48645 SH SOLE ~~38600~~48645 ~~LEAR~~LANCE ~~CORPORATION~~ COM ~~521865105~~514606102 ~~1953~~829 ~~46900~~70000 SH SOLE ~~46900~~70000 LINCARE HOLDINGS COM 532791100 ~~2424~~2767 ~~78080~~87520 SH SOLE ~~78080~~87520 ~~LINCOLN NATIONAL COM 534187109 141 4600 SH SOLE 4600~~ LOCKHEED MARTIN COM 539830109 ~~129~~58 ~~2000~~1000 SH SOLE ~~2000~~1000 LONE STAR STEAKHOUSE COM 542307103 ~~1322~~1412 ~~63000~~73000 SH SOLE ~~63000~~73000 LOWES COS COM 548661107 ~~248~~225 6000 SH SOLE 6000 MACROVISION COM 555904101 367 30000 SH SOLE 30000 MANITOWOC CO COM 563571108 123 4500 SH SOLE 4500 MASCO COM 574599106 546 27925 SH SOLE 27925 METLIFE COM 59156R108 228 10000 SH SOLE 10000 MICROCHIP TECH COM 595017104 961 47000 SH SOLE 47000 MICROSOFT COM 594918104 ~~2069~~2563 ~~47307~~49582 SH SOLE ~~47307~~49582 NATIONAL CITY COM 635405103 ~~1082~~193 ~~37925~~7075 SH SOLE ~~37925~~7075 ~~NATIONWIDE FINANCIAL COM 638612101 267 10000 SH SOLE 10000~~ NEWELL RUBBERMAID COM 651229106 ~~2010~~2928 ~~65110~~96525 SH SOLE ~~65110~~96525 NORFOLK SOUTHERN COM 655844108 ~~606~~800 ~~30000~~40000 SH SOLE ~~30000~~40000 NORTH FORK BANCORP NY COM 659424105 ~~3557~~1352 ~~93995~~40060 SH SOLE ~~93995~~40060 ~~OHIO~~OMNIVISION ~~CASUALTY~~ COM ~~677240103~~682128103 ~~163~~3 ~~10000~~200 SH SOLE ~~10000~~200 ~~PENTAIR INC COM 709631105 1487 40000 SH SOLE 40000~~ PEPSI BOTTLING GRP COM 713409100 ~~1569~~2101 ~~67045~~81745 SH SOLE ~~67045~~81745 ~~PEPSICO~~PETsMART COM ~~713448108 185 5000 SH SOLE 5000 PET SMART COM~~ 716768106 ~~214~~2207 ~~12000~~128815 SH SOLE ~~12000~~128815 ~~PIER 1 IMPORTS COM 720279108 252 13235 SH SOLE 13235~~ PLUM CREEK TIMBER COM 729251108 ~~819~~164 ~~36245~~6940 SH SOLE ~~36245~~6940 ~~PROFIT~~PRG-SCHULTZ ~~RECOVERY~~INTERNATIONAL ~~GROUP~~ COM 69357C107 50661 ~~4000~~74310 SH SOLE ~~4000~~74310 QLOGIC COM 747277101 ~~807~~1432 ~~31000~~41505 SH SOLE ~~31000~~41505 QUALCOMM COM 747525103 77437 ~~2800~~12000 SH SOLE ~~2800~~12000 ~~ROYAL~~R.R.DONNELLEY ~~DUTCH~~& ~~PETROLEUM~~SONS COM ~~780257804~~257867101 54435 ~~1340~~20000 SH SOLE ~~1340~~20000 ~~RYDER~~ROYAL ~~SYSTEM~~DUTCH PETROLEUM COM ~~783549108~~780257804 ~~1424~~59 ~~57100~~1340 SH SOLE ~~57100~~1340 SCHOLASTIC COM 807066105 ~~2064~~2903 ~~46200~~80750 SH SOLE ~~46200~~80750 ~~SILICON LABORATORIES COM 826919102 37 2000 SH SOLE 2000~~ STARBUCKS COM 855244109 83326 ~~4000~~16000 SH SOLE ~~4000~~16000 SYMANTEC COM 871503108 ~~2968~~2585 ~~88265~~63815 SH SOLE ~~88265~~63815 ~~TEEKAY~~SYSCO ~~SHIPPNG~~CORP COM ~~Y8564W103~~871829107 ~~570~~1137 ~~20000~~38170 SH SOLE ~~20000~~38170 ~~TENET HEALTH CARE COM 88033G100 1708 34500 SH SOLE 34500 TEXAS INSTRUMENTS COM 882508104 118 7965 SH SOLE 7965 TREX CO COM 89531P105 1176 43000 SH SOLE 43000~~ TRIBUNE COMPANY COM 896047107 ~~2180~~1897 ~~52130~~41720 SH SOLE ~~52130~~41720 ~~TRUSTCO BK CORP NY COM 898349105 19 1756 SH SOLE 1756~~ UNITED ~~RENTAL COM 911363109 83 9855 SH SOLE 9855 UNITED~~ TECHNOLOGIES COM 913017109 ~~2089~~2895 ~~36975~~46745 SH SOLE ~~36975~~46745 UNIVISION ~~COMM.~~COMMUNICATIONS COM 914906102 ~~1744~~2726 ~~76500~~111275 SH SOLE ~~76500~~111275 UTUTSTARCOM ~~STARCO~~INC COM 918076100 ~~336~~959 ~~22000~~48385 SH SOLE ~~22000~~48385 VIACOM INC COM 925524308 81122 ~~2000~~3000 SH SOLE ~~2000~~3000 ~~VORNADO~~WALGREENS ~~REALTY~~ COM ~~929042109~~931422109 ~~789~~4046 ~~20000~~138625 SH SOLE ~~20000~~138625 WAL-MART STORES COM 931142103 ~~2455~~2621 ~~49857~~51882 SH SOLE ~~49857~~51882 ~~WALGREENS~~WELLPOINT ~~COM~~HEALTH ~~931422109~~NETWORKS ~~1906 61970 SH SOLE 61970 WELLPOINT~~ COM ~~94973h108~~94973H108 ~~2531~~3201 ~~34525~~44990 SH SOLE ~~34525~~44990 WELLS FARGO COM 949746101 ~~2191~~211 ~~45500~~4500 SH SOLE ~~45500~~4500 WESTWOOD ONE COM 961815107 ~~1931~~2391 ~~54000~~64000 SH SOLE ~~54000~~64000 WHOLE FOODS MKT COM 966837106 ~~2862~~3577 ~~66800~~67835 SH SOLE ~~66800~~67835 ~~XL CAPITAL COM G98255105 1470 20000 SH SOLE 20000 ZEBRA TECH COM 989207105 263 5000 SH SOLE 5000~~ REPORT SUMMARY ~~109~~79 DATA RECORDS $~~110~~103,~~331~~180 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED

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