13F-HR 1 form13fhr.txt STEVENSON CAPITAL MANAGEMENT 13F-HR 12-31-2007 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, 2007 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: Stevenson Capital Management ----------------------------------------------------- Address: 19925 Stevens Creek Blvd. Cupertino, CA 95014 ----------------------------------------------------- Form 13F File Number: 28-03429 -------- 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: /s/ Lee Scundi ------------------------- Title: Associate ------------------------- Phone: 408-973-7849 ------------------------- Signature, Place, and Date of Signing: /s/ Lee Scundi Cupertino, CA 01/04/2008 -------------- ------------- ---------- [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: [If there are no entries in this list, omit this section.] 13F File Number Name 28-____________ ________________________________________ [Repeat as necessary.] Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ----------- Form 13F Information Table Entry Total: 95 ----------- Form 13F Information Table Value Total: $184,199 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE

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 ------------------------------ ---------------- --------- -------- ------- --- ---- ------- -------- ------ ------ ---- ~~AMB~~3M ~~Property~~Company ~~Corp.~~COM ~~Com~~604059105 ~~00163T109~~767 259100 ~~500~~SH Sole ~~Sole~~9100 0 0 AT&T Corp. ~~Com~~COM ~~00206r102~~001957109 473152 ~~1700~~75850 ~~Sole~~SH Sole 075850 0 ~~Abbott Labs Com 002824100 87 2000 Sole Sole~~ 0 0 Adobe Systems ~~Com~~COM ~~00724F101~~0072f1019 ~~182~~256 6000 ~~Sole~~SH Sole 6000 0 0 Advanced Micro Devices ~~Com~~COM 007903107 ~~342~~216 ~~14000~~28800 ~~Sole~~SH Sole 028800 0 ~~All American Semiconductor Com 891310100 2 600 Sole Sole~~ 0 0 Allstate Corp. ~~Com~~COM 020002101 ~~695~~528 ~~12700~~10100 ~~Sole~~SH Sole 10100 0 0 American International Group ~~Com~~COM 026874107 ~~4807~~5550 ~~81400~~95200 ~~Sole~~SH Sole 95200 0 0 ~~American~~Amgen ~~Power~~COM ~~Conversion~~031162100 ~~Corp~~2554 ~~Com~~55000 ~~029066070~~SH ~~2514 129000~~ Sole ~~Sole~~55000 0 0 Apollo Group ~~Com~~COM 037604105 ~~310~~2911 ~~6000~~41500 ~~Sole~~SH Sole 41500 0 0 BP p.l.c ~~Com~~COM 055622104 ~~252~~250 ~~3620~~3420 ~~Sole~~SH Sole 03420 0 ~~BRE Properties Com 05564e106 105 1900 Sole Sole~~ 0 0 Bank of America Corp ~~Com~~COM 066050105 ~~11356~~8467 ~~236100~~205200 ~~Sole~~SH Sole 0205200 0 ~~Beazer Homes USA Com 07556q105 330 7200 Sole Sole~~ 0 ~~0 Bell South Corp. Com 079860102 25 700 Sole Sole 0 0~~ Berkshire Hathaway ~~Class~~Cl B ~~Com~~COM 084670207 ~~937~~2022 ~~308~~427 ~~Sole~~SH Sole 427 0 0 Berkshire Hthwy Class A ~~Com~~COM 084670108 ~~183~~283 200 ~~Sole~~SH Sole 200 0 0 ~~Bristol~~Boeing ~~Myers~~Co. ~~Com~~COM ~~09247U107~~097023105 ~~5947~~350 ~~229950~~4000 ~~Sole~~SH Sole 4000 0 0 ~~CIGNA~~Boyd Gaming Corp. ~~Com~~COM ~~125509109~~103304101 ~~158~~753 ~~1600~~22100 ~~Sole~~SH Sole 22100 0 0 ~~CMGI~~Bristol ~~Inc~~Myers ~~Com~~COM ~~125750109~~09247u107 12411 ~~1000~~90900 ~~Sole~~SH Sole 90900 0 0 ~~Caterpillar~~CIGNA ~~Inc~~Corp. ~~Com~~COM ~~149123101~~125509109 ~~119~~258 ~~1600~~4800 ~~Sole~~SH Sole 4800 0 0 Chesapeake Energy ~~Com~~COM ~~165159104~~165167107 30290 ~~1000~~7400 ~~Sole~~SH Sole 7400 0 0 ChevronTexaco ~~Com~~COM ~~166764100~~166741009 ~~7252~~8799 ~~116850~~94275 ~~Sole~~SH Sole 094275 0 ~~Chico's FAS, Inc. Com 168615102 54 2000 Sole Sole~~ 0 ~~0 Ciena Corp. Com 171779101 48 10000 Sole Sole 0 0~~ Cisco Systems Inc. ~~Com~~COM ~~17275R102~~17275r102 ~~236~~850 ~~12100~~31400 ~~Sole~~SH Sole 31400 0 0 Citigroup Inc. ~~Com~~COM 173034109 ~~11141~~5772 ~~230900~~196050 ~~Sole~~SH Sole 196050 0 0 Clorox Co. ~~Com~~COM 189054109 ~~488~~521 8000 ~~Sole~~SH Sole 8000 0 0 ~~Collectors~~Comcast ~~Universe~~Cl ~~Com~~A ~~19421r101~~COM 2820030N101 ~~2000~~225 ~~Sole~~12300 SH Sole 12300 0 0 ConocoPhillips ~~Com~~COM ~~20825L104~~20825c104 ~~7203~~7836 ~~109916~~88740 ~~Sole~~SH Sole 88740 0 0 ~~Consolidated~~Consol ~~Edison~~Energy ~~Com~~COM ~~209115104~~20854P109 ~~3346~~1888 ~~75300~~26400 ~~Sole~~SH Sole 26400 0 0 Consolidated~~-Tomoka~~ ~~Land~~Edison CoCOM ~~Com~~209115104 ~~210226106~~1441 4429500 ~~800~~SH Sole ~~Sole~~29500 0 0 ~~Costco~~Countrywide ~~Cos.~~Financial ~~Inc.~~COM ~~Com~~222372104 ~~22160k105~~176 1719700 ~~300~~SH Sole ~~Sole~~19700 0 0 Crosstex Energy ~~Com~~COM 22765Y104 ~~428~~689 ~~4500~~18500 ~~Sole~~SH Sole 18500 0 0 Crosstex Energy L.P ~~Com~~COM ~~22765u102~~22765U102 ~~736~~310 ~~20000~~10000 ~~Sole~~SH Sole 10000 0 0 D R Horton Inc ~~Com~~COM 23331a109 ~~2704~~1245 ~~113500~~94500 ~~Sole~~SH Sole 094500 0 ~~Darden Restaurants Inc. Com 237194105 99 2500 Sole Sole~~ 0 ~~0 Deere & Co. Com 244199105 125 1500 Sole Sole 0 0~~ Dell Computer ~~Corp.~~COM ~~Com~~ 247025109 ~~2916~~2775 ~~119200~~113200 ~~Sole~~SH Sole 0113200 0 ~~Deltic Timber Corp. Com 247850100 85 1500 Sole Sole~~ 0 0 Discovery Holding Company A ~~Com~~COM 25468y107 ~~823~~598 ~~56262~~23780 ~~Sole~~SH Sole 023780 0 ~~Dominion Resources Com 257470104 75 1000 Sole Sole~~ 0 0Double-Take ~~Dorchester~~Software ~~Minerals~~COM ~~L.P.~~258598101 ~~Com~~326 ~~25820r105~~15000 ~~100~~SH ~~4000~~ Sole ~~Sole~~15000 0 0 ~~Duke~~Drew ~~Realty~~Industries ~~Invts~~COM ~~Com~~26168L205 ~~264411505~~1000 ~~576~~36500 ~~16400~~SH Sole ~~Sole~~36500 0 0 ~~Eastman Kodak Com 277461109 464 19500 Sole Sole 0 0~~ Exxon Mobil Corp ~~Com~~COM 30231g102 ~~2221~~2981 ~~36204~~31819 ~~Sole~~SH Sole 031819 0 ~~Fannie Mae Com 313586109 48 1000 Sole Sole~~ 0 0 Farmers & Merchants ~~Com~~Bank ~~Com~~Of ~~308243104~~Lo ~~107~~COM ~~195~~308035104 ~~Sole~~1320 200 SH Sole 200 0 0 ~~Farmers~~Fed &Ex ~~Merchants~~Corp ~~Bank~~COM Of31428x106 ~~Com~~660 ~~308035104~~7400 ~~1180~~SH ~~203~~ Sole ~~Sole~~7400 0 0 ~~Long Beach~~ Fidelity National ~~Title~~Financial ~~Com~~COM ~~31620r105~~31620R105 ~~1150~~2726 ~~58464~~186616 ~~Sole~~SH Sole 186616 0 0 Fidelity ~~Natl~~National ~~Finl~~Information ~~Inc~~COM ~~Com~~31620M106 ~~316326107~~215 ~~4111~~5161 ~~105533~~SH Sole ~~Sole~~5161 0 0 First National Bank Ofof Alaska ~~Com~~COM 322387101 ~~208~~200 100 ~~Sole~~SH Sole 0100 0 ~~Florida East Coast Ind Cl B Com 340632207 14 277 Sole Sole~~ 0 0 Freddie Mac Voting Shs ~~Com~~COM 313400301 ~~3580~~789 ~~62800~~23150 ~~Sole~~SH Sole 23150 0 0 General Dynamics Corp. ~~Com~~COM 369550108 462111 ~~700~~23725 ~~Sole~~SH Sole 23725 0 0 General Electric Co. ~~Com~~COM 369604103 ~~5606~~5776 ~~170100~~155814 ~~Sole~~SH Sole 0155814 0 ~~General Mills Inc. Com 370334104 155 3000 Sole Sole~~ 0 0Genworth ~~GlaxoSmithKline~~Financial ~~PLC~~COM ~~Com~~7247D1061 ~~3773W105~~616 6724200 ~~1200~~SH Sole ~~Sole~~24200 0 0 ~~Google,~~GeoPetro ~~Inc.~~Resources ~~Com~~Company ~~38259p508~~COM ~~252~~37248h304 ~~600~~456 ~~Sole~~130000 ~~Sole~~SH ~~0 0 H&R Block Com 093671105 119 5000~~ Sole ~~Sole~~130000 0 0 ~~Health~~Harman ~~Net,~~International ~~Inc~~Industrie ~~Com~~COM ~~42222g108~~413086109 35206 ~~780~~2800 ~~Sole~~SH Sole 2800 0 0 Healthcare Realty Trust ~~Com~~COM 421946104 ~~2144~~678 ~~67300~~26700 ~~Sole~~SH Sole 26700 0 0 Heinz H J Co ~~Com~~COM ~~423014103~~423074103 ~~3582~~1386 ~~86900~~29700 ~~Sole~~SH Sole 29700 0 0 Hewlett -Packard ~~Co.~~Company ~~Com~~COM 428236103 ~~412~~606 ~~13000~~12000 ~~Sole~~SH Sole 12000 0 0 Home Depot Inc. ~~Com~~COM 437076102 ~~4148~~4021 ~~115900~~149250 ~~Sole~~SH Sole 149250 0 0 IBM Corp ~~Com~~COM 459200101 ~~4244~~5416 ~~55250~~50100 ~~Sole~~SH Sole 050100 0 ~~Intel Corp. Com 458140100 5700 300001 Sole Sole~~ 0 0Integrys ~~Interleukin~~Energy ~~Genetics~~Group ~~Inc~~Plc ~~Com~~COM ~~458738101~~45822P105 401220 ~~7000~~23594 ~~Sole~~SH Sole 023594 0 ~~J.P. Morgan Chase & Co. Com 46625h100 42 1000 Sole Sole~~ 0 0Intel ~~JDS~~Corp ~~Uniphase~~COM ~~Com~~458140100 ~~46612j101~~6231 19233728 ~~7500~~SH Sole ~~Sole~~233728 0 0 ~~JetBlue Airways Com 477143101 41 3375 Sole Sole 0 0~~ Johnson & Johnson ~~Com~~COM 478160104 ~~6801~~7647 ~~113500~~114650 ~~Sole~~SH Sole 0114650 0 ~~KB Home Com 48666K109 220 4800 Sole Sole~~ 0 ~~0 KHD Humboldt Wedag Intl Ltd Com 482462108 188 7000 Sole 0 0 Kimberly Clark Com 494368103 123 2000 Sole Sole 0 0 Lee Enterprises Inc. Com 523768109 13 500 Sole Sole 0 0~~ Lehman Bros. Holding ~~Com~~COM 524908100 ~~391~~393 6000 ~~Sole~~SH Sole 6000 0 0 Lennar Corp ~~Com~~COM 526057104 ~~1739~~605 ~~39200~~33800 ~~Sole~~SH ~~0 0 Lexington Property Trust Com 529043101 12 566~~ Sole ~~Sole~~33800 0 0 Liberty Global C ~~Com~~COM 530555309 ~~521~~408 ~~25310~~11140 ~~Sole~~SH Sole 11140 0 0 Liberty Global Class A ~~Com~~COM 530555101 ~~543~~433 ~~25260~~11045 ~~Sole~~SH Sole 11045 0 0 Liberty Media Hldg Cap A ~~Com~~COM ~~53071m302~~53071M302 ~~2288~~1313 ~~27311~~11275 ~~Sole~~SH Sole 11275 0 0 Liberty Media Hldy Cp Inter A ~~Com~~COM ~~53071m104~~53071M104 ~~2360~~1068 ~~136755~~55975 ~~Sole~~SH Sole 055975 0 ~~Liberty Property Trust Com 531172104 676 15300 Sole Sole~~ 0 ~~0 Lilly Eli & Co. Com 532457108 22 400 Sole Sole 0 0 Lucent Technologies Inc Com 549463107 48 20000 Sole Sole 0 0 Martha Stewart Living Com 573083102 17 1000 Sole Sole 0 0~~ McDonalds Corp. ~~Com~~COM 580135101 ~~3457~~3387 ~~102900~~57500 ~~Sole~~SH Sole 57500 0 0 Merck & Co. ~~Com~~COM 589331107 ~~4337~~3876 ~~119050~~66700 ~~Sole~~SH Sole 66700 0 0 Merrill Lynch & Co. ~~Com~~COM 590188108 ~~626~~478 ~~9000~~8900 ~~Sole~~SH Sole 8900 0 0 Microsoft Corp. ~~Com~~COM 594918104 ~~6983~~7720 ~~299700~~216850 ~~Sole~~SH Sole 0216850 0 ~~Millennium Pharmaceuticals Com 599902103 50 5000 Sole Sole~~ 0 0 Nabors Industries ~~Com~~COM g6359f103 ~~2740~~3349 ~~81100~~122275 ~~Sole~~SH Sole 122275 0 0 Natural Resource Partners L.P. ~~Com~~COM ~~63900p103~~63900P103 ~~363~~214 ~~6700~~6600 ~~Sole~~SH Sole 06600 0 ~~Neenah Paper Com 640079109 2 60 Sole Sole~~ 0 0Newmont ~~New~~Mining ~~Plan~~Corp ~~Excel~~COM ~~Realty~~651639106 ~~Trust~~244 ~~Com~~5000 ~~648053106~~SH ~~2676 108400~~ Sole ~~Sole~~5000 0 0 ~~Inc~~ Nokia Corp ~~Com~~COM 654902204 ~~5199~~6641 ~~256600~~173000 ~~Sole~~SH Sole 0173000 0 ~~Nortel Networks Com 656569100 11 5000 Sole Sole~~ 0 0Office ~~Novartis~~Depot AGCOM ~~Com~~676220106 ~~66987v109~~2573 54185000 ~~1000~~SH Sole ~~Sole~~185000 0 0 Oracle Corp Com 68389X105 101 7000 Sole Sole 0 0 PHH Corp Com 693320202 1 30 Sole Sole 0 0 PPL Corporation Com 69351t106 65 2000 Sole Sole 0 0 Paramount Energy Trust Com 699219101 50 3000 Sole Sole 0 0 Peoples Energy Corp Com 711030106 2787 77600 Sole Sole 0 0 Pfizer Inc. ~~Com~~COM 717081103 ~~11291~~9365 ~~481100~~412000 ~~Sole~~SH Sole 412000 0 0 ~~Pharmaceutical~~PrimeWest ~~Prod~~Energy ~~Dev~~Tr ~~Com~~COM ~~717124101~~741930309 ~~140~~2763 ~~4000~~101800 ~~Sole~~SH Sole 101800 0 0 Pulte Homes ~~Com~~COM ~~745867104~~746920107 ~~815~~430 ~~28300~~40825 ~~Sole~~SH Sole 040825 0 ~~Qualcomm Inc. Com 747525103 20 500 Sole Sole~~ 0 ~~0 Raymond James Financial Com 754730109 123 4050 Sole Sole 0 0 Regions Financial Corp Com 758940100 206 6225 Sole Sole 0 0~~ Ross Stores Inc. ~~Com~~COM 778296103 ~~295~~230 ~~10500~~9000 ~~Sole~~SH Sole 9000 0 0 Royal Dutch Shell -- Tendered ~~Com~~COM ~~780857804~~780259206 ~~474~~588 ~~7080~~6980 ~~Sole~~SH Sole 6980 0 0 Ryland Group ~~Com~~COM 783764103 ~~288~~450 ~~6600~~16350 ~~Sole~~SH Sole 16350 0 0 ~~SLM~~S ~~Corporation~~& ~~Com~~P ~~78442p106~~500 ~~386~~Spiders ~~7300~~COM ~~Sole~~78462f103 ~~Sole~~731 05000 0SH ~~Sara Lee Corp. Com 803111103 24 1500~~ Sole ~~Sole~~5000 0 0 ~~Simpson~~SPDR ~~Manufacturing~~Home CoBuilders ~~Com~~COM ~~829073105~~78464a888 ~~361~~470 ~~10000~~24300 ~~Sole~~SH Sole 24300 0 0 Southern Co. ~~Com~~COM 842587107 ~~2949~~1523 ~~92000~~39300 ~~Sole~~SH Sole 39300 0 0 ~~St.~~Sprint ~~Joe~~Nextel Corp. ~~Com~~COM ~~790148100~~852061100 ~~107~~1435 ~~2300~~109300 ~~Sole~~SH Sole 109300 0 0 Star Gas Ptnrs L.P. ~~Com~~COM ~~85512c105~~85512C105 64476 ~~24000~~120000 ~~Sole~~SH Sole 0120000 0 ~~Tarragon Corporation Com 876287103 14 1000 Sole Sole~~ 0 0 Time Warner ~~Com~~COM 887317105 ~~4347~~2703 ~~251300~~163700 ~~Sole~~SH Sole 163700 0 0 Toll Brothers Inc ~~Com~~COM 889478103 ~~683~~731 ~~26700~~36450 ~~Sole~~SH Sole 036450 0 ~~Tyco Intl Ltd Com 902124106 8 300 Sole Sole~~ 0 0 United States Steel Corp ~~Com~~COM 912909108 56314 ~~800~~2600 ~~Sole~~SH Sole 2600 0 0 UnitedHealth Group Inc ~~Com~~COM ~~91324p102~~91324P102 ~~936~~3766 ~~20900~~64700 ~~Sole~~SH Sole 064700 0 ~~Verizon Communications Com 92343v104 33 1000 Sole Sole~~ 0 ~~0 Vodaphone Group PLC Com 92857t107 53 2500 Sole Sole 0 0~~ Wal-Mart Stores Inc. ~~Com~~COM 931142103 ~~4451~~2975 ~~92400~~62600 ~~Sole~~SH Sole 062600 0 ~~Walt Disney Co. Com 254687106 60 2000 Sole Sole~~ 0 0 Washington ~~Mututal~~Mutual, Inc. ~~Com~~COM 939322103 ~~12516~~3345 ~~274600~~245803 ~~Sole~~SH Sole 0245803 0 ~~Washington Real Estate Inv Tr Com 939653101 866 23600 Sole Sole~~ 0 0XTO ~~Waste~~Energy ~~Management~~ Inc ~~Com~~COM ~~94106l109~~98385X106 54642 ~~1500~~12500 ~~Sole~~SH Sole 012500 0 ~~Wells Fargo Co. Com 949746101 134 2000 Sole Sole~~ 0 ~~0 Wynn Resorts Com 983134107 147 2000 Sole Sole 0 0~~ YRC Worldwide ~~Com~~COM 984249102 ~~1175~~2049 ~~27900~~119900 ~~Sole~~SH Sole 0119900 0 ~~Yahoo!, Inc. Com 984332106 119 3600 Sole Sole~~ 0 0 iShares ~~MSCI~~ EAFE ~~Value~~ Index ~~Com 464288877 50 800 Sole Sole 0 0~~ Fund ~~iShares~~COM ~~MSCI~~464287465 ~~Japan~~236 ~~Com~~3000 ~~464286848~~SH ~~240 17600~~ Sole ~~Sole~~3000 0 0 iShares MSCI ~~Pacific Ex-~~Japan ~~Com~~COM ~~464286665~~464286848 ~~231~~282 ~~2150~~21250 ~~Sole~~SH Sole 21250 0 0 iShares Russell 2000 ~~Com~~COM 464287655 ~~402~~736 ~~5600~~9700 ~~Sole~~SH Sole 9700 0 0 iShares Russell Midcap ~~Com~~COM 464287499 ~~514~~745 ~~5600~~7200 ~~Sole~~SH Sole 7200 0 0 iShares S&P Eur 350 ~~Com~~COM 464287861 ~~923~~978 ~~10100~~8550 ~~Sole~~SH Sole 8550 0 0 ~~ABN~~Latin ~~Amro~~America ~~Preferred~~Equity GFund 6Inc.~~08%~~ ~~Pref~~51827t100 ~~00372q201~~260 ~~1300~~5500 ~~57400~~SH Sole ~~Sole~~5500 0 0 ~~CORTS~~ABN ~~Trust~~Amro ~~for~~Preferred ~~Ford~~G ~~Motor~~6.08% ~~Pref~~00372q100 ~~22080q208~~1533 5682500 ~~3500~~SH Sole ~~Sole~~82500 0 0 ~~7.4%~~ CORTS Trust for Ford Motor 8% ~~Pref~~ 22082k209 ~~1446~~1011 ~~81000~~62000 ~~Sole~~SH Sole 062000 0 ~~Crescent R.E. Conv Pref A Pref 225756204 3434 162900 Sole Sole~~ 0 0 6.75% AEW Real Estate Income Fund Com 00104h107 6906 359900 Sole Sole 0 0 Latin America Equity Fund Inc. Com 51827q106 26 2000 Sole Sole 0 0 Europe Fund Inc Com 29874m103 1149 31700 Sole Sole 0 0 New Germany Fund Inc. Com 644465106 31 2500 Sole Sole 0 0 Swiss Helvetia Fund Com 870875101 20 1200 Sole Sole 0 0

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