James B. Loken

Valero Energy — Buy

STOCKS (All Common)

Allstate Corp. — Int/Div

Venzon Communications — Int/Div

Idearc — None — Spinoff — by Verizon

Bristol-Myers Squibb — Int/Div

Zimmer Holdings, Inc — None

Target Corp — Int/Div

Emerson Electric — Int/Div

Exxon Corp. — Int/Div

Wachovia Corp. — Int/Div

Gabelli Equity Trust — Int/Div

Gabelli Global Multimedia Trust — Int/Div

Gabelli Utility Trust — Int/Div

General Motors — Int/Div

IBM — Int/Div

XCel Energy, Inc. — Int/Div

CenterPoint Energy, Inc — Int/Div

AT&T Inc. (formerly SBC Communications) — Int/Div

Pactiv Corp. — None

TXU (Texas Utilities) — Int/Div

ASM Intemational — None — Sell

Consol. Delivery & Logistics — None — Sell

Cypress Semicond. Corp. — None

FSI Intemational, Inc — Sell

FSI Intemational, Inc — None — Sell

Digi International — None

LSI Logic Corp. — Sell

LSI Logic Corp. — Sell

LSI Logic Corp — None — Sell

Hewlett-Packard Co. — Int/Div — Sell

Communications Systems — Int/Div

Nektar Therapeutics — None

Vishay Intertechnology — None — Sell

ADC Telecommunications — Buy

ADC Telecommunications — None — Buy

Amkor Technology — Buy

Amkor Technology — None — Sell

Conexant Systems — None

Atmel Corp. — None — Sell

Select Comfort Corp. — Sell

Select Comfort Corp. — None — Buy

Nokia Corp. — Int/Div

Oracle Corp. — None

Skyworks Solutions, Inc — Buy

Skyworks Solutions, Inc — None — Sell

Synovis Life Technologies, Inc — None — Buy

Cyberoptics Corp. — Buy

Cyberoptics Corp. — None — Buy

Seagate Technology — None — Sell

Microsoft Corp. — Int/Div

Mesa Air Group, Inc — None — Sell

August Technology Inc — Buy

August Technology Inc — None — Sell — exchange for Rudolph

Rudolph Technology — None — Exchange — August stock

Intrawest — Buy

Intrawest — Int/Div — Sell

Aetrium Inc — None — Buy

58. Dow Chemical — Int/Div — Buy

Cemex S.A — Buy

Cemex S.A — Int/Div — Buy

Chesapeake Energy — Int/Div — Buy

Valero Energy — Int/Div — Buy

Metro Health Network — Buy

Metro Health Network — None — Buy

Boston Scientific Corp — None — Buy

MUTUAL FUNDS

Columbia Acom Fund — Int/Div

Fidelity Equity Income Fund II — Int/Div

Fidelity Mn. Tax Free Fund — Int/Div

Fidelity Emerging Markets Fund — Int/Div

Fidelity Japan Fund — Int/Div

Fidelity Spartan Muni Income Fund — Int/Div

Fidelity Real Estate Fund — Int/Div — Gift

Harbor International Fund — Int/Div

Investment Co Amer Fund — Int/Div

Mutual Beacon Fund — Int/Div

New Perspective Fund — Int/Div

Oppenheimer Capital Inc Fund — Int/Div

Oppenheimer Strategic Income — Int/Div

Vanguard Fixed Inc Fund S-T — Int/Div

Vanguard Fixed Inc Fund GNMA — Int/Div

Washington Mutual Fund — Int/Div

Vanguard Windsor Fund — Int/Div

Vanguard Hi-Yield Corp. Fund — Int/Div

Vanguard Prime MM Fund — Int/Div

Vanguard Short Term Corp. Fund — Int/Div

Vanguard Long Term Tax Exempt Fund — Int/Div

Vanguard Wellington Fund — Int/Div

Vanguard Capital Value Fund — Int/Div

Artisan International Fund — Int/Div

Leuthold Core Inv. Fund — Int/Div

Selected American Shares Fund — Int/Div

Amer Century Equity Fund — Int/Div

Chase Growth Fund — Int/Div

Dreyfus Minn Muni Fund — Int/Div

Icon Health Care Fund — Int/Div

Matthews Pacific Tiger Fund — Int/Div

Muhlenkamp Fund — Int/Div

MISC

Wells Fargo Bank IRA — Int/Div

F&B Building Partnership — None

Vanguard Variable Annuity Plan — None

Tamarack Investment Tax Free Fund — Int/Div

Schwab Advance Cash Reserve Fund — Int/Div

Past President, Federal Bar Associaton, Minnesota Chapter

Member, American Law Institute

Agreement — 3. — - ~~ - 5 9 TT mm » --

Reimbursement — Pace University Law School — Judge, Feb. 25, 2006, Pace National Environmental Law Moot Court Competition (Transportation, Meals, Room)

Spouse's income — FINANCIAL DISCLOSURE RE2ORT Name of Pesson Regering age 3 0772 LOKEN, JAMES B