UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2004
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
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 May 07, 2004
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: 408
Form13F Information Table Value Total: $506,602 (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 4511 55103 SH DEFINED 02 0 55103 0
ABBOTT LABS COM 002824100 472 1753 SH Call DEFINED 02 0 1753 0
ABBOTT LABS COM 002824100 512 1724 SH Put DEFINED 02 0 1724 0
ADOLOR CORP COM 00724X102 228 15178 SH DEFINED 02 0 15178 0
ADVANCED FIBRE COMMUNICATION COM 00754A105 440 19919 SH DEFINED 02 0 19919 0
ADVANCED MARKETING SVCS INC COM 00753T105 159 16096 SH DEFINED 01 0 16096 0
ADVANCED MICRO DEVICES INC COM 007903107 2961 7034 SH Call DEFINED 02 0 7034 0
AFFILIATED MANAGERS GROUP COM 008252108 755 13833 SH DEFINED 02 0 13833 0
AGERE SYS INC CL A 00845V100 350 108887 SH DEFINED 01 0 108887 0
ALARIS MEDICAL SYSTEMS INC COM 011637105 350 18758 SH DEFINED 01 0 18758 0
ALCAN INC COM 013716105 233 5200 SH DEFINED 02 0 5200 0
ALCOA INC COM 013817101 359 10357 SH DEFINED 02 0 10357 0
ALCON INC COM SHS H01301102 482 7614 SH DEFINED 02 0 7614 0
ALLEGHENY ENERGY INC COM 017361106 221 1222 SH Call DEFINED 02 0 1222 0
ALLMERICA FINL CORP COM 019754100 744 21520 SH DEFINED 02 0 21520 0
ALSTOM SPONSORED ADR 021244108 61 24919 SH DEFINED 01 0 24919 0
ALTRIA GROUP INC COM 02209S103 1414 25977 SH DEFINED 02 0 25977 0
AMAZON COM INC COM 023135106 334 7709 SH DEFINED 02 0 7709 0
AMERADA HESS CORP COM 023551104 214 1331 SH Put DEFINED 02 0 1331 0
AMERADA HESS CORP COM 023551104 1061 1183 SH Call DEFINED 02 0 1183 0
AMERICA MOVIL S A DE C V SPON ADR L SHS 02364W105 425 11000 SH DEFINED 02 0 11000 0
AMERICAN ELEC PWR INC COM 025537101 285 8646 SH DEFINED 01 0 8646 0
AMERICAN EXPRESS CO COM 025816109 295 5697 SH DEFINED 02 0 5697 0
AMERICAN INTL GROUP INC COM 026874107 457 6406 SH DEFINED 02 0 6406 0
AMERIGROUP CORP COM 03073T102 356 7785 SH DEFINED 02 0 7785 0
AMERITRADE HLDG CORP NEW COM 03074K100 465 30214 SH DEFINED 02 0 30214 0
AMGEN INC COM 031162100 3459 59478 SH DEFINED 02 0 59478 0
ANADARKO PETE CORP COM 032511107 261 492 SH Call DEFINED 02 0 492 0
ANADARKO PETE CORP COM 032511107 1799 34681 SH DEFINED 02 0 34681 0
APACHE CORP COM 037411105 367 484 SH Call DEFINED 02 0 484 0
APACHE CORP COM 037411105 2932 67910 SH DEFINED 02 0 67910 0
APOLLO GROUP INC CL A 037604105 250 800 SH Put DEFINED 02 0 800 0
APOLLO GROUP INC CL A 037604105 646 886 SH Call DEFINED 02 0 886 0
APPLIED MATLS INC COM 038222105 345 16146 SH DEFINED 02 0 16146 0
ARCHSTONE SMITH TR COM 039583109 259 8789 SH DEFINED 01 0 8789 0
ASTORIA FINL CORP COM 046265104 1384 36392 SH DEFINED 02 0 36392 0
AT&T WIRELESS SVCS INC COM 00209A106 270 1000 SH Call DEFINED 02 0 1000 0
AT&T WIRELESS SVCS INC COM 00209A106 1663 122210 SH DEFINED 01 0 122210 0
ATHEROGENICS INC COM 047439104 222 9716 SH DEFINED 02 0 9716 0
AU OPTRONICS CORP SPONSORED ADR 002255107 527 25198 SH DEFINED 02 0 25198 0
AVALONBAY CMNTYS INC COM 053484101 962 17963 SH DEFINED 02 0 17963 0
AVON PRODS INC COM 054303102 1481 19524 SH DEFINED 02 0 19524 0
AVON PRODS INC COM 054303102 330 344 SH Call DEFINED 02 0 344 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 281 21149 SH DEFINED 02 0 21149 0
BANCO ITAU HLDG FINANCIERA S SP ADR 500 PFD 059602201 427 9138 SH DEFINED 02 0 9138 0
BANK NEW YORK INC COM 064057102 228 1368 SH Put DEFINED 02 0 1368 0
BANK NEW YORK INC COM 064057102 219 1459 SH Call DEFINED 02 0 1459 0
BANK OF AMERICA CORPORATION COM 060505104 1285 15867 SH DEFINED 02 0 15867 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 3732 40 SH DEFINED 01 0 40 0
BERKSHIRE HILLS BANCORP INC COM 084680107 350 10021 SH DEFINED 01 0 10021 0
BIOGEN IDEC INC COM 09062X103 2619 47104 SH DEFINED 02 0 47104 0
BIOLASE TECHNOLOGY INC COM 090911108 1172 66999 SH DEFINED 02 0 66999 0
BIOTECH HOLDERS TR DEPOSTRY RCPTS 09067D201 839 627 SH Call DEFINED 02 0 627 0
BIOTECH HOLDERS TR DEPOSTRY RCPTS 09067D201 203 820 SH Put DEFINED 02 0 820 0
BIOTECH HOLDERS TR DEPOSTRY RCPTS 09067D201 2319 16320 SH DEFINED 02 0 16320 0
BIOVAIL CORP COM 09067J109 1139 73020 SH DEFINED 02 0 73020 0
BIOVAIL CORP COM 09067J109 481 345 SH Put DEFINED 02 0 345 0
BLOCK H & R INC COM 093671105 569 11149 SH DEFINED 01 0 11149 0
BOISE CASCADE CORP COM 097383103 559 16133 SH DEFINED 02 0 16133 0
BOWATER INC COM 102183100 214 1178 SH Put DEFINED 02 0 1178 0
BP PLC SPONSORED ADR 055622104 288 569 SH Call DEFINED 02 0 569 0
BP PLC SPONSORED ADR 055622104 3849 75176 SH DEFINED 02 0 75176 0
BRISTOL MYERS SQUIBB CO COM 110122108 629 25962 SH DEFINED 01 0 25962 0
BRISTOL MYERS SQUIBB CO COM 110122108 242 9992 SH DEFINED 02 0 9992 0
BROADCOM CORP CL A 111320107 774 19837 SH DEFINED 02 0 19837 0
BROCADE COMMUNICATIONS SYS I COM 111621108 105 15752 SH DEFINED 02 0 15752 0
BUTLER MFG CO DEL COM 123655102 663 29511 SH DEFINED 01 0 29511 0
CABLE & WIRELESS PUB LTD CO SPONSORED ADR 126830207 99 13955 SH DEFINED 01 0 13955 0
CALPINE CORP COM 131347106 796 10302 SH Call DEFINED 02 0 10302 0
CALPINE CORP COM 131347106 1739 13340 SH Put DEFINED 02 0 13340 0
CAMPBELL SOUP CO COM 134429109 212 7778 SH DEFINED 02 0 7778 0
CAPITAL ONE FINL CORP COM 14040H105 1132 15006 SH DEFINED 02 0 15006 0
CAPITAL ONE FINL CORP COM 14040H105 262 381 SH Call DEFINED 02 0 381 0
CAREMARK RX INC COM 141705103 353 1179 SH Call DEFINED 02 0 1179 0
CATERPILLAR INC DEL COM 149123101 296 394 SH Call DEFINED 02 0 394 0
CATERPILLAR INC DEL COM 149123101 1467 18555 SH DEFINED 02 0 18555 0
CBRL GROUP INC COM 12489V106 673 16988 SH DEFINED 02 0 16988 0
CELGENE CORP COM 151020104 281 5890 SH DEFINED 02 0 5890 0
CENTRAL EUROPE AND RUSSIA FD COM 153436100 1091 44521 SH DEFINED 01 0 44521 0
CENTRAL PKG CORP COM 154785109 211 10532 SH DEFINED 02 0 10532 0
CEPHALON INC COM 156708109 311 370 SH Call DEFINED 02 0 370 0
CHEVRONTEXACO CORP COM 166764100 441 5027 SH DEFINED 02 0 5027 0
CHICOS FAS INC COM 168615102 227 4891 SH DEFINED 02 0 4891 0
CHINA LIFE INS CO LTD SPON ADR REP H 16939P106 584 23369 SH DEFINED 01 0 23369 0
CHINA TELECOM CORP LTD SPON ADR H SHS 169426103 547 15764 SH DEFINED 01 0 15764 0
CHIRON CORP COM 170040109 441 10027 SH DEFINED 02 0 10027 0
CITIGROUP INC COM 172967101 2150 41593 SH DEFINED 02 0 41593 0
COCA COLA CO COM 191216100 343 6825 SH DEFINED 02 0 6825 0
COGNOS INC COM 19244C109 1170 37683 SH DEFINED 02 0 37683 0
COMERICA INC COM 200340107 288 5299 SH DEFINED 01 0 5299 0
COMMERCE BANCORP INC NJ COM 200519106 909 1484 SH Call DEFINED 02 0 1484 0
COMPUTER ASSOC INTL INC COM 204912109 886 1767 SH Call DEFINED 02 0 1767 0
COMPUTER ASSOC INTL INC COM 204912109 328 1474 SH Put DEFINED 02 0 1474 0
COMPUTER ASSOC INTL INC COM 204912109 2343 87221 SH DEFINED 02 0 87221 0
COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 1103 60824 SH DEFINED 02 0 60824 0
CONSOL ENERGY INC COM 20854P109 515 19210 SH DEFINED 02 0 19210 0
COOPER CAMERON CORP COM 216640102 654 14843 SH DEFINED 02 0 14843 0
COPART INC COM 217204106 234 10782 SH DEFINED 02 0 10782 0
CORTEX PHARMACEUTICALS INC COM NEW 220524300 44 15663 SH DEFINED 01 0 15663 0
COTT CORP QUE COM 22163N106 256 8700 SH DEFINED 02 0 8700 0
CROMPTON CORP COM 227116100 106 16664 SH DEFINED 01 0 16664 0
CROWN HOLDINGS INC COM 228368106 237 25453 SH DEFINED 02 0 25453 0
CTI MOLECULAR IMAGING INC COM 22943D105 204 13957 SH DEFINED 02 0 13957 0
CURAGEN CORP COM 23126R101 237 37923 SH DEFINED 02 0 37923 0
CURATIVE HEALTH SRVCS INC COM 23126W100 179 13328 SH DEFINED 02 0 13328 0
DADE BEHRING HLDGS INC COM 23342J206 204 4596 SH DEFINED 02 0 4596 0
DAIMLERCHRYSLER AG ORD D1668R123 318 7608 SH DEFINED 01 0 7608 0
DANA CORP COM 235811106 396 19924 SH DEFINED 02 0 19924 0
DANAHER CORP DEL COM 235851102 315 348 SH Call DEFINED 02 0 348 0
DANAHER CORP DEL COM 235851102 708 7579 SH DEFINED 02 0 7579 0
DELPHI FINL GROUP INC CL A 247131105 486 11575 SH DEFINED 02 0 11575 0
DELTA AIR LINES INC DEL COM 247361108 1627 4329 SH Put DEFINED 02 0 4329 0
DIAGEO P L C SPON ADR NEW 25243Q205 560 10581 SH DEFINED 01 0 10581 0
DIAMONDS TR UNIT SER 1 252787106 201 735 SH Put DEFINED 02 0 735 0
DIAMONDS TR UNIT SER 1 252787106 11639 112000 SH DEFINED 02 0 112000 0
DISNEY WALT CO COM DISNEY 254687106 1044 41768 SH DEFINED 02 0 41768 0
DIVERSIFIED CORPORATE RES IN COM 255153108 166 69224 SH DEFINED 01 0 69224 0
DIXON TICONDEROGA CO COM 255860108 40 11446 SH DEFINED 01 0 11446 0
DOLLAR GEN CORP COM 256669102 222 11545 SH DEFINED 01 0 11545 0
DOLLAR TREE STORES INC COM 256747106 767 24860 SH DEFINED 02 0 24860 0
DONNELLEY R R & SONS CO COM 257867101 985 32573 SH DEFINED 02 0 32573 0
DONNELLEY R R & SONS CO COM 257867101 478 15802 SH DEFINED 01 0 15802 0
EAGLE BROADBAND INC COM 269437109 25 20815 SH DEFINED 01 0 20815 0
EASTMAN KODAK CO COM 277461109 230 8779 SH DEFINED 01 0 8779 0
EBAY INC COM 278642103 294 4238 SH DEFINED 02 0 4238 0
EDISON INTL COM 281020107 630 1213 SH Call DEFINED 02 0 1213 0
ELECTRONICS FOR IMAGING INC COM 286082102 472 19198 SH DEFINED 02 0 19198 0
ENSCO INTL INC COM 26874Q100 776 27552 SH DEFINED 02 0 27552 0
ENZO BIOCHEM INC COM 294100102 1695 100726 SH DEFINED 02 0 100726 0
ENZON PHARMACEUTICALS INC COM 293904108 223 959 SH Call DEFINED 02 0 959 0
ESS TECHNOLOGY INC COM 269151106 629 43035 SH DEFINED 02 0 43035 0
EVEREST RE GROUP LTD COM G3223R108 1307 15292 SH DEFINED 02 0 15292 0
EVERGREEN INCOME ADVANTAGE F COM SHS 30023Y105 227 14666 SH DEFINED 01 0 14666 0
EXCEL MARITIME CARRIERS LTD COM V3267N107 141 10520 SH DEFINED 01 0 10520 0
EXXON MOBIL CORP COM 30231G102 523 12584 SH DEFINED 02 0 12584 0
F M C CORP COM NEW 302491303 429 347 SH Call DEFINED 02 0 347 0
FASTENAL CO COM 311900104 654 963 SH Call DEFINED 02 0 963 0
FEDERAL HOME LN MTG CORP COM 313400301 609 10317 SH DEFINED 02 0 10317 0
FEDERAL NATL MTG ASSN COM 313586109 966 12987 SH DEFINED 02 0 12987 0
FEDEX CORP COM 31428X106 233 3105 SH DEFINED 02 0 3105 0
FLAGSTAR BANCORP INC COM 337930101 1136 44274 SH DEFINED 02 0 44274 0
FLAHERTY & CRUMRINE PFD INC COM 33848E106 168 11336 SH DEFINED 01 0 11336 0
FOREST LABS INC COM 345838106 445 410 SH Call DEFINED 02 0 410 0
FOREST LABS INC COM 345838106 213 372 SH Put DEFINED 02 0 372 0
FOX ENTMT GROUP INC CL A 35138T107 242 8930 SH DEFINED 01 0 8930 0
FREEPORT-MCMORAN COPPER & GO CL B 35671D857 496 1053 SH Call DEFINED 02 0 1053 0
FREEPORT-MCMORAN COPPER & GO CL B 35671D857 2273 58151 SH DEFINED 02 0 58151 0
FREEPORT-MCMORAN COPPER & GO CL B 35671D857 433 2102 SH Put DEFINED 02 0 2102 0
GAP INC DEL COM 364760108 775 35360 SH DEFINED 01 0 35360 0
GENERAL ELEC CO COM 369604103 416 13641 SH DEFINED 02 0 13641 0
GENESCO INC COM 371532102 273 11776 SH DEFINED 01 0 11776 0
GILEAD SCIENCES INC COM 375558103 253 314 SH Call DEFINED 02 0 314 0
GOLDMAN SACHS GROUP INC COM 38141G104 316 272 SH Call DEFINED 02 0 272 0
GOLDMAN SACHS GROUP INC COM 38141G104 274 2624 SH DEFINED 02 0 2624 0
GOODYEAR TIRE & RUBR CO COM 382550101 128 14961 SH DEFINED 02 0 14961 0
GOODYEAR TIRE & RUBR CO COM 382550101 208 24363 SH DEFINED 01 0 24363 0
GRANITE CONSTR INC COM 387328107 215 9064 SH DEFINED 02 0 9064 0
GREATER CHINA FD INC COM 39167B102 224 14000 SH DEFINED 01 0 14000 0
GUCCI GROUP N V COM NY REG 401566104 717 849 SH Call DEFINED 02 0 849 0
GUCCI GROUP N V COM NY REG 401566104 261 3050 SH DEFINED 02 0 3050 0
HALLIBURTON CO COM 406216101 216 7124 SH DEFINED 02 0 7124 0
HARMAN INTL INDS INC COM 413086109 2240 28146 SH DEFINED 02 0 28146 0
HEINZ H J CO COM 423074103 233 6243 SH DEFINED 01 0 6243 0
HERSHA HOSPITALITY TR SH BEN INT A 427825104 142 13356 SH DEFINED 01 0 13356 0
HEXCEL CORP NEW COM 428291108 257 35291 SH DEFINED 01 0 35291 0
HOLOGIC INC COM 436440101 213 10531 SH DEFINED 02 0 10531 0
HONEYWELL INTL INC COM 438516106 338 950 SH Call DEFINED 02 0 950 0
HONEYWELL INTL INC COM 438516106 574 1302 SH Put DEFINED 02 0 1302 0
HUANENG PWR INTL INC SPON ADR N 443304100 234 2994 SH DEFINED 01 0 2994 0
HYPERION TOTAL RETURN & INCO COM 449145101 148 14508 SH DEFINED 01 0 14508 0
ICICI BK LTD ADR 45104G104 260 16279 SH DEFINED 02 0 16279 0
IMATION CORP COM 45245A107 309 8201 SH DEFINED 01 0 8201 0
IMCLONE SYS INC COM 45245W109 515 10153 SH DEFINED 02 0 10153 0
INDEPENDENCE CMNTY BK CORP COM 453414104 299 7340 SH DEFINED 02 0 7340 0
INFOSPACE INC COM NEW 45678T201 405 468 SH Call DEFINED 02 0 468 0
INFOSPACE INC COM NEW 45678T201 228 5859 SH DEFINED 02 0 5859 0
INTEGRATED BIOPHARMA INC COM 45811V105 391 31047 SH DEFINED 01 0 31047 0
INTEL CORP COM 458140100 2305 84758 SH DEFINED 02 0 84758 0
INTERNACIONAL DE CERAMICA S SPON ADR UNITS 458847506 264 32404 SH DEFINED 01 0 32404 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 1621 36057 SH DEFINED 02 0 36057 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 1517 1837 SH Call DEFINED 02 0 1837 0
INTERPORE INTL COM 46062W107 447 31088 SH DEFINED 02 0 31088 0
INTL PAPER CO COM 460146103 244 5770 SH DEFINED 02 0 5770 0
ISHARES INC MSCI SINGAPORE 464286673 1659 260000 SH DEFINED 02 0 260000 0
ISHARES INC MSCI TAIWAN 464286731 813 66786 SH DEFINED 02 0 66786 0
ISHARES INC MSCI SWEDEN 464286756 418 25100 SH DEFINED 02 0 25100 0
ISHARES INC MSCI SPAIN 464286764 1101 39000 SH DEFINED 02 0 39000 0
ISHARES INC MSCI MALAYSIA 464286830 328 44964 SH DEFINED 02 0 44964 0
ISHARES INC MSCI UTD KINGD 464286699 900 56800 SH DEFINED 02 0 56800 0
ISHARES INC MSCI FRANCE 464286707 3164 155400 SH DEFINED 02 0 155400 0
ISHARES INC MSCI HONG KONG 464286871 502 47400 SH DEFINED 02 0 47400 0
ISHARES INC MSCI ITALY 464286855 790 39980 SH DEFINED 02 0 39980 0
ISHARES INC MSCI S KOREA 464286772 4305 152724 SH DEFINED 02 0 152724 0
ISHARES INC MSCI BRAZIL 464286400 578 34400 SH DEFINED 02 0 34400 0
ISHARES INC MSCI GERMAN 464286806 2518 161800 SH DEFINED 02 0 161800 0
ISHARES INC MSCI CDA INDEX 464286509 735 50400 SH DEFINED 02 0 50400 0
ISHARES TR S&P500/BAR VAL 464287408 7118 124700 SH DEFINED 02 0 124700 0
ISHARES TR NASDQ BIO INDX 464287556 372 1400 SH Put DEFINED 02 0 1400 0
ISHARES TR S&P 500 INDEX 464287200 7524 66450 SH DEFINED 02 0 66450 0
ISHARES TR 7-10 YR TRS BD 464287440 9018 103000 SH DEFINED 02 0 103000 0
ISHARES TR RUSSELL 2000 464287655 283 510 SH Call DEFINED 02 0 510 0
ISHARES TR COHEN&ST RLTY 464287564 1343 11363 SH DEFINED 02 0 11363 0
ISHARES TR GLDM SACHS TEC 464287549 911 20100 SH DEFINED 02 0 20100 0
ISHARES TR RUSL 2000 VALU 464287630 6846 40000 SH DEFINED 02 0 40000 0
ISHARES TR 20+ YR TRS BD 464287432 17337 193600 SH DEFINED 02 0 193600 0
ISHARES TR TRANSP AVE IDX 464287192 1596 30819 SH DEFINED 02 0 30819 0
ISHARES TR RUSSELL 2000 464287655 304 1470 SH Put DEFINED 02 0 1470 0
ISHARES TR DJ US TELECOMM 464287713 1185 54775 SH DEFINED 02 0 54775 0
ISHARES TR RUSSELL 3000 464287689 1181 18400 SH DEFINED 02 0 18400 0
ISHARES TR MSCI EAFE IDX 464287465 28912 204184 SH DEFINED 02 0 204184 0
ISHARES TR S&P GBL HLTHCR 464287325 324 6900 SH DEFINED 02 0 6900 0
ISHARES TR S&P 1500 INDEX 464287150 46648 470000 SH DEFINED 02 0 470000 0
ISHARES TR S&P500/BAR GRW 464287309 572 10300 SH DEFINED 02 0 10300 0
ISHARES TR GS NAT RES IDX 464287374 298 2700 SH DEFINED 02 0 2700 0
ISHARES TR RUSL 2000 GROW 464287648 3331 53300 SH DEFINED 02 0 53300 0
ISHARES TR S&P SMLCAP 600 464287804 797 5600 SH DEFINED 02 0 5600 0
ISHARES TR DJ US BAS MATL 464287838 445 10000 SH DEFINED 02 0 10000 0
ISHARES TR RUSL 3000 GROW 464287671 1538 40300 SH DEFINED 02 0 40300 0
ISHARES TR RUSSELL 1000 464287622 2390 39500 SH DEFINED 02 0 39500 0
ISHARES TR NASDQ BIO INDX 464287556 1932 25000 SH DEFINED 02 0 25000 0
ISHARES TR RUSSELL1000VAL 464287598 1773 29600 SH DEFINED 02 0 29600 0
ISHARES TR RUSSELL MCP GR 464287481 5172 67000 SH DEFINED 02 0 67000 0
ISHARES TR S&P 100 IDX FD 464287101 254 4600 SH DEFINED 02 0 4600 0
ISHARES TR RUSSELL 2000 464287655 46969 399400 SH DEFINED 02 0 399400 0
ISHARES TR RUSSELL1000GRW 464287614 3391 72000 SH DEFINED 02 0 72000 0
ISHARES TR S&P SMLCP VALU 464287879 4269 39900 SH DEFINED 02 0 39900 0
ISHARES TR GLDM SCHS SEMI 464287523 697 11300 SH DEFINED 02 0 11300 0
ISHARES TR S&P MIDCP GROW 464287606 2217 17875 SH DEFINED 02 0 17875 0
ISHARES TR DJ US FINL SEC 464287788 387 4177 SH DEFINED 02 0 4177 0
J ALEXANDER CORP COM 466096104 128 17602 SH DEFINED 01 0 17602 0
J F CHINA REGION FD INC COM 46614T107 326 22607 SH DEFINED 01 0 22607 0
J P MORGAN CHASE & CO COM 46625H100 1738 41423 SH DEFINED 02 0 41423 0
JDS UNIPHASE CORP COM 46612J101 3861 948732 SH DEFINED 02 0 948732 0
JOHNSON & JOHNSON COM 478160104 2066 40737 SH DEFINED 02 0 40737 0
JOHNSON CTLS INC COM 478366107 246 4158 SH DEFINED 02 0 4158 0
KELLWOOD CO COM 488044108 266 6777 SH DEFINED 01 0 6777 0
KEY ENERGY SVCS INC COM 492914106 371 33745 SH DEFINED 02 0 33745 0
KINDRED HEALTHCARE INC COM 494580103 323 6428 SH DEFINED 02 0 6428 0
KLA-TENCOR CORP COM 482480100 961 1753 SH Put DEFINED 02 0 1753 0
KLA-TENCOR CORP COM 482480100 1300 1249 SH Call DEFINED 02 0 1249 0
KNIGHT RIDDER INC COM 499040103 323 4415 SH DEFINED 02 0 4415 0
KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 237 28700 SH DEFINED 02 0 28700 0
KT CORP SPONSORED ADR 48268K101 276 14500 SH DEFINED 02 0 14500 0
LA QUINTA CORP PAIRED CTF 50419U202 84 11201 SH DEFINED 01 0 11201 0
LEHMAN BROS HLDGS INC COM 524908100 253 3055 SH DEFINED 02 0 3055 0
LEHMAN BROS HLDGS INC COM 524908100 262 3159 SH DEFINED 01 0 3159 0
LOWES COS INC COM 548661107 313 5578 SH DEFINED 02 0 5578 0
LUCENT TECHNOLOGIES INC COM 549463107 6700 1630232 SH DEFINED 01 0 1630232 0
LUCENT TECHNOLOGIES INC COM 549463107 66 15980 SH DEFINED 02 0 15980 0
LYONDELL CHEMICAL CO COM 552078107 652 43954 SH DEFINED 01 0 43954 0
M & T BK CORP COM 55261F104 234 2607 SH DEFINED 01 0 2607 0
MACDERMID INC COM 554273102 388 11035 SH DEFINED 01 0 11035 0
MAF BANCORP INC COM 55261R108 221 5085 SH DEFINED 02 0 5085 0
MAGNUM HUNTER RES INC COM PAR $0.002 55972F203 177 17412 SH DEFINED 02 0 17412 0
MAHANAGAR TEL NIGAM LTD SPONS ADR 2001 559778402 148 19226 SH DEFINED 02 0 19226 0
MANAGED MUNS PORTFOLIO INC COM 561662107 136 11694 SH DEFINED 01 0 11694 0
MANDALAY RESORT GROUP COM 562567107 4531 2851 SH Call DEFINED 02 0 2851 0
MANDALAY RESORT GROUP COM 562567107 360 2552 SH Put DEFINED 02 0 2552 0
MARTHA STEWART LIVING OMNIME CL A 573083102 494 2598 SH Call DEFINED 02 0 2598 0
MAXIM INTEGRATED PRODS INC COM 57772K101 341 7259 SH DEFINED 02 0 7259 0
MAXTOR CORP COM NEW 577729205 334 40993 SH DEFINED 01 0 40993 0
MCDATA CORP CL B 580031102 239 34687 SH DEFINED 02 0 34687 0
MCDATA CORP CL A 580031201 338 47995 SH DEFINED 02 0 47995 0
MCDERMOTT INTL INC COM 580037109 252 30000 SH DEFINED 02 0 30000 0
MELLON FINL CORP COM 58551A108 254 8124 SH DEFINED 02 0 8124 0
MERCK & CO INC COM 589331107 2090 47299 SH DEFINED 01 0 47299 0
MERCK & CO INC COM 589331107 1025 23206 SH DEFINED 02 0 23206 0
MERCURY INTERACTIVE CORP COM 589405109 649 14483 SH DEFINED 02 0 14483 0
MERCURY INTERACTIVE CORP COM 589405109 222 381 SH Put DEFINED 02 0 381 0
MERIT MED SYS INC COM 589889104 554 25618 SH DEFINED 02 0 25618 0
MERRILL LYNCH & CO INC COM 590188108 2266 3254 SH Call DEFINED 02 0 3254 0
MERRILL LYNCH & CO INC COM 590188108 433 7270 SH DEFINED 02 0 7270 0
MERRILL LYNCH & CO INC COM 590188108 583 2464 SH Put DEFINED 02 0 2464 0
METRIS COS INC COM 591598107 360 1491 SH Call DEFINED 02 0 1491 0
MGM MIRAGE COM 552953101 490 10811 SH DEFINED 02 0 10811 0
MID-AMER APT CMNTYS INC COM 59522J103 332 8945 SH DEFINED 01 0 8945 0
MIDCAP SPDR TR UNIT SER 1 595635103 750 2000 SH Call DEFINED 02 0 2000 0
MIDCAP SPDR TR UNIT SER 1 595635103 8973 81200 SH DEFINED 02 0 81200 0
MIDSOUTH BANCORP INC COM 598039105 304 9052 SH DEFINED 01 0 9052 0
MIRAMAR MINING CORP COM 60466E100 56 31462 SH DEFINED 01 0 31462 0
MONTPELIER RE HOLDINGS LTD SHS G62185106 204 5483 SH DEFINED 01 0 5483 0
MOTOROLA INC COM 620076109 238 13523 SH DEFINED 02 0 13523 0
MYLAN LABS INC COM 628530107 332 14607 SH DEFINED 01 0 14607 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 265 5970 SH DEFINED 02 0 5970 0
NEW CENTURY FINANCIAL CORP COM 64352D101 1452 29896 SH DEFINED 02 0 29896 0
NEW CENTURY FINANCIAL CORP COM 64352D101 352 930 SH Call DEFINED 02 0 930 0
NEW YORK CMNTY BANCORP INC COM 649445103 804 23455 SH DEFINED 01 0 23455 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 251 10195 SH DEFINED 02 0 10195 0
NOBLE ENERGY INC COM 655044105 406 8611 SH DEFINED 01 0 8611 0
NORTHGATE EXPL LTD COM 666416102 26 10435 SH DEFINED 01 0 10435 0
NORTHWEST NAT GAS CO COM 667655104 208 6644 SH DEFINED 02 0 6644 0
NPS PHARMACEUTICALS INC COM 62936P103 986 34589 SH DEFINED 02 0 34589 0
NU SKIN ENTERPRISES INC CL A 67018T105 266 13186 SH DEFINED 01 0 13186 0
NYFIX INC COM 670712108 191 36945 SH DEFINED 02 0 36945 0
OIL SVC HOLDRS TR DEPOSTRY RCPT 678002106 4467 63600 SH DEFINED 02 0 63600 0
OIL SVC HOLDRS TR DEPOSTRY RCPT 678002106 237 226 SH Call DEFINED 02 0 226 0
OMNICARE INC COM 681904108 237 5346 SH DEFINED 02 0 5346 0
OMNICOM GROUP INC COM 681919106 878 1069 SH Call DEFINED 02 0 1069 0
OMNICOM GROUP INC COM 681919106 344 1277 SH Put DEFINED 02 0 1277 0
OPEN JT STK CO-VIMPEL COMMUN SPONSORED ADR 68370R109 2304 1012 SH Call DEFINED 02 0 1012 0
OPEN JT STK CO-VIMPEL COMMUN SPONSORED ADR 68370R109 1705 16399 SH DEFINED 02 0 16399 0
OVERSTOCK COM INC DEL COM 690370101 258 8341 SH DEFINED 02 0 8341 0
PACTIV CORP COM 695257105 426 19162 SH DEFINED 02 0 19162 0
PEC SOLUTIONS INC COM 705107100 379 28650 SH DEFINED 02 0 28650 0
PENNEY J C INC COM 708160106 995 1146 SH Call DEFINED 02 0 1146 0
PEPSI BOTTLING GROUP INC COM 713409100 287 9634 SH DEFINED 01 0 9634 0
PEPSICO INC COM 713448108 2028 3378 SH Call DEFINED 02 0 3378 0
PERFORMANCE FOOD GROUP CO COM 713755106 1143 33279 SH DEFINED 02 0 33279 0
PERKINELMER INC COM 714046109 367 614 SH Call DEFINED 02 0 614 0
PETSMART INC COM 716768106 868 32072 SH DEFINED 02 0 32072 0
PFIZER INC COM 717081103 462 13187 SH DEFINED 02 0 13187 0
PG&E CORP COM 69331C108 545 1447 SH Call DEFINED 02 0 1447 0
PHARMACEUTICAL HLDRS TR DEPOSITRY RCPT 71712A206 1069 14000 SH DEFINED 02 0 14000 0
PHARMACEUTICAL HLDRS TR DEPOSITRY RCPT 71712A206 749 1897 SH Put DEFINED 02 0 1897 0
PHARMACEUTICAL RES INC COM 717125108 1637 28794 SH DEFINED 02 0 28794 0
PHELPS DODGE CORP COM 717265102 245 2997 SH DEFINED 02 0 2997 0
POSCO SPONSORED ADR 693483109 4509 127400 SH DEFINED 02 0 127400 0
PRIDE INTL INC DEL COM 74153Q102 1298 76112 SH DEFINED 02 0 76112 0
PROCTER & GAMBLE CO COM 742718109 4286 40868 SH DEFINED 02 0 40868 0
PROCTER & GAMBLE CO COM 742718109 453 2021 SH Put DEFINED 02 0 2021 0
PROCTER & GAMBLE CO COM 742718109 1052 1694 SH Call DEFINED 02 0 1694 0
PROVIDENT FINL SVCS INC COM 74386T105 492 26300 SH DEFINED 02 0 26300 0
PULTE HOMES INC COM 745867101 845 15197 SH DEFINED 02 0 15197 0
PULTE HOMES INC COM 745867101 1853 1462 SH Call DEFINED 02 0 1462 0
PYR ENERGY CORP COM 693677106 20 16742 SH DEFINED 01 0 16742 0
QUALCOMM INC COM 747525103 209 536 SH Put DEFINED 02 0 536 0
QUALCOMM INC COM 747525103 317 423 SH Call DEFINED 02 0 423 0
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QWEST COMMUNICATIONS INTL IN COM 749121109 72 16803 SH DEFINED 01 0 16803 0
RANGE RES CORP COM 75281A109 212 17443 SH DEFINED 01 0 17443 0
RAYONIER INC COM 754907103 216 4946 SH DEFINED 02 0 4946 0
RAYTHEON CO COM NEW 755111507 265 870 SH Call DEFINED 02 0 870 0
RENTECH INC COM 760112102 44 48198 SH DEFINED 01 0 48198 0
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RETAIL HOLDRS TR DEP RCPT 76127U101 223 386 SH Call DEFINED 02 0 386 0
RETAIL HOLDRS TR DEP RCPT 76127U101 7941 84700 SH DEFINED 02 0 84700 0
REUNION INDS INC COM 761312107 16 44578 SH DEFINED 01 0 44578 0
REVLON INC CL A 761525500 28 10000 SH DEFINED 01 0 10000 0
RF MICRODEVICES INC COM 749941100 908 107360 SH DEFINED 02 0 107360 0
RICA FOODS INC COM NEW 762582203 119 19193 SH DEFINED 01 0 19193 0
SANOFI-SYNTHELABO SPONSORED ADR 80105N105 334 10231 SH DEFINED 01 0 10231 0
SARA LEE CORP COM 803111103 824 37686 SH DEFINED 02 0 37686 0
SBC COMMUNICATIONS INC COM 78387G103 467 19024 SH DEFINED 02 0 19024 0
SEARS ROEBUCK & CO COM 812387108 533 12403 SH DEFINED 02 0 12403 0
SECURE COMPUTING CORP COM 813705100 853 52162 SH DEFINED 02 0 52162 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 729 30000 SH DEFINED 02 0 30000 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 4947 167946 SH DEFINED 02 0 167946 0
SEMICONDUCTOR HLDRS TR DEP RCPT 816636203 545 1898 SH Put DEFINED 02 0 1898 0
SEMICONDUCTOR HLDRS TR DEP RCPT 816636203 304 1595 SH Call DEFINED 02 0 1595 0
SEPRACOR INC COM 817315104 678 2199 SH Put DEFINED 02 0 2199 0
SEPRACOR INC COM 817315104 6845 3979 SH Call DEFINED 02 0 3979 0
SIGMA ALDRICH CORP COM 826552101 215 1106 SH Put DEFINED 02 0 1106 0
SILICONWARE PRECISION INDS L SPONSD ADR SPL 827084864 273 53146 SH DEFINED 02 0 53146 0
SINOPEC SHANGHAI PETROCHEMIC SPON ADR H 82935M109 769 16928 SH DEFINED 01 0 16928 0
SIRVA INC COM 82967Y104 243 10075 SH DEFINED 01 0 10075 0
SK TELECOM LTD SPONSORED ADR 78440P108 202 9500 SH DEFINED 02 0 9500 0
SOFTWARE HOLDRS TR DEPOSITRY RCPT 83404B103 352 10000 SH DEFINED 02 0 10000 0
SONICWALL INC COM 835470105 160 17719 SH DEFINED 02 0 17719 0
SOUTHERN CO COM 842587107 621 20353 SH DEFINED 02 0 20353 0
SPX CORP COM 784635104 575 574 SH Put DEFINED 02 0 574 0
SPX CORP COM 784635104 1462 32154 SH DEFINED 02 0 32154 0
SRA INTL INC CL A 78464R105 554 14989 SH DEFINED 01 0 14989 0
STARBUCKS CORP COM 855244109 456 607 SH Call DEFINED 02 0 607 0
STONE ENERGY CORP COM 861642106 387 387 SH Call DEFINED 02 0 387 0
SUN MICROSYSTEMS INC COM 866810104 122 29233 SH DEFINED 02 0 29233 0
SUNRISE SENIOR LIVING INC COM 86768K106 432 915 SH Call DEFINED 02 0 915 0
SYCAMORE NETWORKS INC COM 871206108 52 12801 SH DEFINED 02 0 12801 0
SYMBOL TECHNOLOGIES INC COM 871508107 256 18537 SH DEFINED 01 0 18537 0
TAG-IT PAC INC COM 873774103 101 17019 SH DEFINED 01 0 17019 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 1026 98308 SH DEFINED 02 0 98308 0
TANOX INC COM 87588Q109 292 19603 SH DEFINED 02 0 19603 0
TELEFONOS DE MEXICO S A SPON ADR ORD L 879403780 440 12600 SH DEFINED 02 0 12600 0
TELESP CELULAR PART S A SPON ADR PFD 87952L108 114 12488 SH DEFINED 02 0 12488 0
TELETOUCH COMMUNICATIONS INC COM NEW 87951V206 20 20824 SH DEFINED 01 0 20824 0
TENARIS S A SPONSORED ADR 88031M109 216 6596 SH DEFINED 01 0 6596 0
TENET HEALTHCARE CORP COM 88033G100 244 21834 SH DEFINED 02 0 21834 0
TENGASCO INC COM NEW 88033R205 21 45664 SH DEFINED 01 0 45664 0
TETON PETE CO COM NEW 88162A205 54 15134 SH DEFINED 01 0 15134 0
TEXAS INSTRS INC COM 882508104 928 31758 SH DEFINED 02 0 31758 0
TIPPERARY CORP COM PAR $0.02 888002300 148 41210 SH DEFINED 01 0 41210 0
TIVO INC COM 888706108 90 10116 SH DEFINED 02 0 10116 0
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TOYOTA MOTOR CORP SP ADR REP2COM 892331307 1445 19400 SH DEFINED 02 0 19400 0
TRACTOR SUPPLY CO COM 892356106 243 435 SH Call DEFINED 02 0 435 0
TRIMBLE NAVIGATION LTD COM 896239100 569 24769 SH DEFINED 02 0 24769 0
TRINITY INDS INC COM 896522109 404 14529 SH DEFINED 02 0 14529 0
ULTRA PETROLEUM CORP COM 903914109 5224 174059 SH DEFINED 02 0 174059 0
UNITED BANKSHARES INC WEST V COM 909907107 218 7149 SH DEFINED 02 0 7149 0
UNITED MICROELECTRONICS CORP SPONSORED ADR 910873207 190 36452 SH DEFINED 01 0 36452 0
UNITED MICROELECTRONICS CORP SPONSORED ADR 910873207 920 176987 SH DEFINED 02 0 176987 0
UNITED TECHNOLOGIES CORP COM 913017109 449 5200 SH DEFINED 02 0 5200 0
UNIVERSAL HLTH SVCS INC CL B 913903100 239 5197 SH DEFINED 01 0 5197 0
UNOCAL CORP COM 915289102 337 9031 SH DEFINED 02 0 9031 0
UNOCAL CORP COM 915289102 250 824 SH Call DEFINED 02 0 824 0
UTILITIES HOLDRS TR DEPOSITRY RCPT 918019100 1344 16300 SH DEFINED 02 0 16300 0
VALERO ENERGY CORP NEW COM 91913Y100 384 112 SH Call DEFINED 02 0 112 0
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VARCO INTL INC DEL COM 922122106 386 21432 SH DEFINED 02 0 21432 0
VIDESH SANCHAR NIGAM LTD SPON ADR NEW 92659G600 427 46168 SH DEFINED 02 0 46168 0
VIRAGEN INC COM 927638106 14 67760 SH DEFINED 01 0 67760 0
VISHAY INTERTECHNOLOGY INC COM 928298108 209 490 SH Call DEFINED 02 0 490 0
WAL MART STORES INC COM 931142103 221 3708 SH DEFINED 02 0 3708 0
WASHINGTON MUT INC COM 939322103 462 10821 SH DEFINED 02 0 10821 0
WATSON PHARMACEUTICALS INC COM 942683103 222 5192 SH DEFINED 01 0 5192 0
WEATHERFORD INTERNATIONAL LT COM G95089101 725 17259 SH DEFINED 02 0 17259 0
WESTERN WIRELESS CORP CL A 95988E204 451 1688 SH Call DEFINED 02 0 1688 0
XANSER CORP COM 98389J103 64 25160 SH DEFINED 01 0 25160 0
XCEL ENERGY INC COM 98389B100 597 33537 SH DEFINED 01 0 33537 0