William Fremming Nielsen

WFNSPS3

Berkshire Hath — None

WFNSPWOLF

Cash Richards Merrill Peterson — Interest

Amel Comp. — None

Auto Data Proc. Com — Int/Div

Berkshire Hath — None

Coca Cola — Int/Div

Com2l Inc — None

SX Corp — Int/Div — Buy

Cummins — Int/Div

Eaton — Int/Div

Green Brier — None — Buy

Home Depot — Int/Div

Honeywell Intl — Int/Div

Minos Tool Wks — Int/Div

Intel Com — Int/Div

Intmtive Surg — None

Johnson & Johnson Com — Int/Div

Microsoft — Int/Div — Sold

St Jude Med — Int/Div

Safeway — Int/Div

Stryker — Int/Div

WFNSP

Cash--INB& WTB — Interest

NW Venture Assc Fund — None — 12/31/11

Advanced Emissions (previously Ades) — None — name only

AFLAC — Int/Div

Amer Exp Co — Int/Div

Amencan Axel — None — Buy — Overlooked

Ameriprise Fine — Int/Div

Bank of America — Int/Div

Baxter Intl — Int/Div

Beckton Dickinsxon — Int/Div — Sold

Bed-Bath-B — None

Berk Hathwy Com — None

Caterpillar — Int/Div

Cisco — Int/Div

Coca Cola — Int/Div

Colgate Com — Int/Div

CSX Corp — Int/Div — Buy

Disney Com — Int/Div

Eaton — Int/Div

Elbit Systems — Int/Div — Buy

Ensco — Int/Div — Buy

Home Depot — Int/Div

Intel Corp — Int/Div

Johnson & Johnson — Int/Div

Kenna Metal — Int/Div

Kenna Metal — Int/Div — Buy — Overlooked

McDonalds Corp — Int/Div

NW Bancorp — None

Oracle Corp. — Int/Div

Pfizer — Int/Div

Proctor & Gamble Co — Int/Div

RPC Inc — Int/Div

Safeway — Int/Div

Schlum Berger — Int/Div — Buy

Sealed Air Corp — Int/Div — Buy

Spirit Aerosystems — None — Buy

Starbuck's — Int/Div

SW. Airlines Com — Int/Div

Sysco — Int/Div — Sold

Target — Int/Div

Telefonica SA — Int/Div — Sold

Tractor Supply — Int/Div

Walgreen Co — Int/Div

Waters Corp. — None

Wells Fargo & Co — Int/Div

WFN SPDRSEA

AFLAC — Int/Div

Bank of America — Int/Div

Bed Bath Beyond — None

Boeing — Int/Div

Cash RBC — Interest

Chevron Corp. — Int/Div

Deere & Co. — Int/Div

Emerson Elec — Int/Div

Ericsson Tel Co — Int/Div — Sold

Foot Locker — Int/Div — Buy

Hemz Com — Int/Div — Sold

Johnson Controls — Int/Div — Buy

LP. Morgan Chase — Int/Div

Magna Intl — Int/Div

Medrronics Inc — Int/Div — Sold — Overlooked

Merck — Int/Div

Oracle Corp Com — Int/Div

Paccar — Int/Div

Proctor & Gamble — Int/Div

Stanley Black Decker — Int/Div

Starbucks — Int/Div

Tenneco — Int/Div — Buy

TEVA — Int/Div — Sold

Union Pacific — Int/Div

Weyerhauser — Int/Div — Buy

MSN SP PTNRS-TI

Cash-WTB — Interest

Cash in McAdams Wright — Interest

Abbott Lab — Int/Div

Abbvie Inc — Int/Div — from line 102)

AFLAC — Int/Div

Caterpillar — Int/Div

Cisco — Int/Div

Costco — Int/Div

SX — Int/Div

Digital Realty — Int/Div — Buy

Dow Chem — Int/Div

Emerson Elec — Int/Div

Exxon — Int/Div

First Energy — Int/Div — Buy

Ford — Int/Div — Sold

Green Brier Co. — None — Buy

Home Depot — Int/Div

Income Fund of Amer — Int/Div

Intel Corp. — Int/Div

Johnson-Johnson — Int/Div

JP Morgan — Int/Div

Kimberly Clark — Int/Div

Microsoft — Int/Div — Sold

Mondeleze Intl — Int/Div

Nordstrom — Int/Div — Sold

Peabody Energy — Int/Div — Buy

Pepsi Co. — Int/Div — Sold

Plum Creek — Int/Div

Royal Dutch Shell — Int/Div

Safeway — Int/Div

Southwest Airlmes — Int/Div

Starbucks — Int/Div

Stryker — Int/Div

TAL — Int/Div

TEVA Pharm — Int/Div

Trans Ocean Lid — Int/Div — Buy

UPS — Int/Div

Waste Mgmt — Int/Div

Walgreen — Int/Div

Weverhauser — Int/Div — Buy

MSN SP PTNRS 22

Amer CAP Income Bldr FD — Int/Div

Bond Fund Amer — Int/Div

Income Fund Amer — Int/Div

Wasatch Small Cap Fund — Int/Div — Buy

Cash--PTNRS — Interest

Home Depot — Int/Div

Minois Tool — Int/Div

Potash — Int/Div

1 Mineral Rights, Montrial County, N.D (xX) — Rovalty

42 Mineral Rights, Montrial County. N.D xX) — Rovalty

Board Member, Spokane YMCA Endowment Commuttee

Liability — Merrill Lynch — Margin Loan

None