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, 2006

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:    Allied Irish Banks, p.l.c.
Address: Regulatory Compliance & Business Ethics
         Block F Level 4  -  Bankcentre
         Ballsbridge, Dublin 4 Ireland

13F File Number:  28-05346

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:      John Burns
Title:     Assistant Secretary
Phone:     00 353 1 6413543

Signature, Place, and Date of Signing:

     /s/  John Burns     Dublin, Ireland     May 03, 2006

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:         0

Form13F Information Table Entry Total:     233

Form13F Information Table Value Total:     $4,295,400 (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.

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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
A D C TELECOMMUNICATIONS       COM NEW          000886309        1       45 SH       DEFINED                    45        0        0
ABBOTT LABS                    COM              002824100      682    16026 SH       DEFINED                 16026        0        0
ACTIVIDENTITY CORP             COM              00506P103        7     1745 SH       DEFINED                  1745        0        0
ADVANCED MICRO DEVICES INC     COM              007903107       10      300 SH       DEFINED                   300        0        0
AETNA INC NEW                  COM              00817Y108     1233    24740 SH       DEFINED                 24740        0        0
AGILENT TECHNOLOGIES INC       COM              00846U101        1       32 SH       DEFINED                    32        0        0
ALCAN INC                      COM              013716105    14240   311397 SH       DEFINED                311397        0        0
ALCOA INC                      COM              013817101      126     3880 SH       DEFINED                  3880        0        0
ALLERGAN INC                   COM              018490102       11       97 SH       DEFINED                    97        0        0
ALLSTATE CORP                  COM              020002101       63     1200 SH       DEFINED                  1200        0        0
ALTERA CORP                    COM              021441100       87     4200 SH       DEFINED                  4200        0        0
ALTRIA GROUP INC               COM              02209S103    16028   226176 SH       DEFINED                226176        0        0
AMDOCS LTD                     ORD              G02602103       12      325 SH       DEFINED                   325        0        0
AMERICAN EXPRESS CO            COM              025816109    10418   198242 SH       DEFINED                198242        0        0
AMERICAN INTL GROUP INC        COM              026874107    15399   233018 SH       DEFINED                233018        0        0
AMGEN INC                      COM              031162100    20146   276942 SH       DEFINED                276942        0        0
ANALOG DEVICES INC             COM              032654105      191     4980 SH       DEFINED                  4980        0        0
ANHEUSER BUSCH COS INC         COM              035229103      104     2457 SH       DEFINED                  2457        0        0
APACHE CORP                    COM              037411105    28179   430147 SH       DEFINED                430147        0        0
APPLE COMPUTER INC             COM              037833100    17786   283559 SH       DEFINED                283559        0        0
APPLERA CORP                   COM CE GEN GRP   038020202        1      102 SH       DEFINED                   102        0        0
APPLIED MATLS INC              COM              038222105    15425   880908 SH       DEFINED                880908        0        0
ASTRAZENECA PLC                SPONSORED ADR    046353108       19      380 SH       DEFINED                   380        0        0
AT&T INC                       COM              00206R102       60     2218 SH       DEFINED                  2218        0        0
ATI TECHNOLOGIES INC           COM              001941103      343    19950 SH       DEFINED                 19950        0        0
AUTOMATIC DATA PROCESSING IN   COM              053015103       37      800 SH       DEFINED                   800        0        0
AVAYA INC                      COM              053499109        0       10 SH       DEFINED                    10        0        0
AVOCENT CORP                   COM              053893103        8      250 SH       DEFINED                   250        0        0
AVON PRODS INC                 COM              054303102     1291    41554 SH       DEFINED                 41554        0        0
AWARE INC MASS                 COM              05453N100        2      400 SH       DEFINED                   400        0        0
BANK OF AMERICA CORPORATION    COM              060505104    14936   327965 SH       DEFINED                327965        0        0
BARRICK GOLD CORP              COMMON           067901180    19243   706426 SH       DEFINED                706426        0        0
BAUSCH & LOMB INC              COM              071707103     9170   143959 SH       DEFINED                143959        0        0
BEA SYS INC                    COM              073325102      302    23000 SH       DEFINED                 23000        0        0
BECTON DICKINSON & CO          COM              075887109       15      240 SH       DEFINED                   240        0        0
BERKSHIRE HATHAWAY INC DEL     CL B             084670207     2986      996 SH       DEFINED                   996        0        0
BIOMET INC                     COM              090613100       25      700 SH       DEFINED                   700        0        0
BMC SOFTWARE INC               COM              055921100       10      470 SH       DEFINED                   470        0        0
BOEING CO                      COM              097023105    14999   192473 SH       DEFINED                192473        0        0
BP PLC                         SPONSORED ADR    055622104      878    12408 SH       DEFINED                 12408        0        0
BRISTOL MYERS SQUIBB CO        COM              110122108       40     1632 SH       DEFINED                  1632        0        0
BROADCOM CORP                  CL A             111320107      369     8550 SH       DEFINED                  8550        0        0
BURLINGTON RES INC             COM              122014103        7       70 SH       DEFINED                    70        0        0
CAMECO CORP                    COM              13321L108      397    10900 SH       DEFINED                 10900        0        0
CAMPBELL SOUP CO               COM              134429109      224     6910 SH       DEFINED                  6910        0        0
CARNIVAL CORP                  PAIRED CTF       143658300    11847   250126 SH       DEFINED                250126        0        0
CATERPILLAR INC DEL            COM              149123101    39758   553640 SH       DEFINED                553640        0        0
CELESTICA INC                  SUB VTG SHS      15101Q108       20     1500 SH       DEFINED                  1500        0        0
CEVA INC                       COM              157210105        8     2424 SH       DEFINED                  2424        0        0
CHECK POINT                    COMMON           001082411     9247   461876 SH       DEFINED                461876        0        0
CHECK POINT SOFTWARE TECH LT   ORD              M22465104        3      170 SH       DEFINED                   170        0        0
CHESAPEAKE CORP                COM              165159104        3      225 SH       DEFINED                   225        0        0
CHEVRON CORP NEW               COM              166764100     9853   170016 SH       DEFINED                170016        0        0
CHICOS FAS INC                 COM              168615102    14156   348338 SH       DEFINED                348338        0        0
CISCO SYS INC                  COM              17275R102      267    12404 SH       DEFINED                 12404        0        0
CITIGROUP INC                  COM              172967101    28530   607745 SH       DEFINED                607745        0        0
CITRIX SYS INC                 COM              177376100    38165  1006990 SH       DEFINED               1006990        0        0
CLARUS CORP DEL                COMMON           182707109        2      335 SH       DEFINED                   335        0        0
COCA COLA CO                   COM              191216100       66     1575 SH       DEFINED                  1575        0        0
COLGATE PALMOLIVE CO           COM              194162103      892    15438 SH       DEFINED                 15438        0        0
COMCAST CORP NEW               CL A SPL         20030N200       49     1850 SH       DEFINED                  1850        0        0
COMVERSE TECHNOLOGY INC        COM PAR $0.10    205862402     6577   279525 SH       DEFINED                279525        0        0
CONOCOPHILLIPS                 COM              20825C104    14283   226169 SH       DEFINED                226169        0        0
CONSOLIDATED EDISON INC        COM              209115104        5      125 SH       DEFINED                   125        0        0
COOPER CAMERON CORP            COM              216640102    26872   609615 SH       DEFINED                609615        0        0
COOPER INDS LTD                CL A             G24182100    26498   304921 SH       DEFINED                304921        0        0
CVS CORP                       COM              126650100       45     1600 SH       DEFINED                  1600        0        0
D R HORTON INC                 COM              23331A109    19465   585945 SH       DEFINED                585945        0        0
DELL INC                       COM              24702R101     6518   219021 SH       DEFINED                219021        0        0
DISNEY WALT CO                 COM DISNEY       254687106       13      454 SH       DEFINED                   454        0        0
DONNELLEY R R & SONS CO        COM              257867101       36     1100 SH       DEFINED                  1100        0        0
DOW CHEM CO                    COM              260543103       61     1500 SH       DEFINED                  1500        0        0
E M C CORP MASS                COM              268648102       26     1900 SH       DEFINED                  1900        0        0
EBAY INC                       COM              278642103    10718   274813 SH       DEFINED                274813        0        0
ELAN PLC                       ADR              284131208      979    66292 SH       DEFINED                 66292        0        0
ELECTRONIC ARTS INC            COM              285512109       28      500 SH       DEFINED                   500        0        0
EMERSON ELEC CO                COM              291011104    10882   130115 SH       DEFINED                130115        0        0
ENBRIDGE ENERGY PARTNERS L P   COM              29250R106       85     1994 SH       DEFINED                  1994        0        0
ENSCO INTL INC                 COM              26874Q100    26064   506580 SH       DEFINED                506580        0        0
ERICSSON L M TEL CO            ADR B SEK 10     294821608        9      240 SH       DEFINED                   240        0        0
EXPEDITORS INTL WASH INC       COM              302130109       87     1000 SH       DEFINED                  1000        0        0
EXXON MOBIL CORP               COM              30231G102    40090   658777 SH       DEFINED                658777        0        0
FEDERATED DEPT STORES INC DE   COM              31410H101       27      373 SH       DEFINED                   373        0        0
FEDEX CORP                     COM              31428X106      311     2800 SH       DEFINED                  2800        0        0
FISHER SCIENTIFIC INTL INC     COM NEW          338032204    12118   178071 SH       DEFINED                178071        0        0
FLEXTRONICS INTL LTD           ORD              Y2573F102       49     4550 SH       DEFINED                  4550        0        0
GANNETT INC                    COM              364730101       71     1175 SH       DEFINED                  1175        0        0
GENENTECH INC                  COM NEW          368710406       45      527 SH       DEFINED                   527        0        0
GENERAL ELECTRIC CO            COM              369604103    40351  1160610 SH       DEFINED               1160610        0        0
GENTA INC                      COM NEW          37245M207        4     2050 SH       DEFINED                  2050        0        0
GENWORTH FINL INC              COM CL A         37247D106    14703   439815 SH       DEFINED                439815        0        0
GENZYME CORP                   COM              372917104    11380   169301 SH       DEFINED                169301        0        0
GILEAD SCIENCES INC            COM              375558103    12113   194688 SH       DEFINED                194688        0        0
GIVEN IMAGING                  ORD SHS          M52020100        5      220 SH       DEFINED                   220        0        0
GLAXOSMITHKLINE PLC            SPONSORED ADR    37733W105       69     1320 SH       DEFINED                  1320        0        0
GOLDMAN SACHS GROUP INC        COM              38141G104    25273   161013 SH       DEFINED                161013        0        0
HALLIBURTON CO                 COM              406216101    18616   254949 SH       DEFINED                254949        0        0
HCA INC                        COM              404119109       27      600 SH       DEFINED                   600        0        0
HEINZ H J CO                   COM              423074103       46     1211 SH       DEFINED                  1211        0        0
HEWLETT PACKARD CO             COM              428236103      414    12622 SH       DEFINED                 12622        0        0
HILTON HOTELS CORP             COM              432848109       27     1000 SH       DEFINED                  1000        0        0
HOME DEPOT INC                 COM              437076102      385     9090 SH       DEFINED                  9090        0        0
HONEYWELL INTL INC             COM              438516106      342     8025 SH       DEFINED                  8025        0        0
ICON PUB LTD CO                SPONSORED ADR    45103T107     4140    86392 SH       DEFINED                 86392        0        0
ILLINOIS TOOL WKS INC          COM              452308109     4662    48535 SH       DEFINED                 48535        0        0
INCO LTD                       COM              453258402        0        5 SH       DEFINED                     5        0        0
INTEL CORP                     COM              458140100     9181   471539 SH       DEFINED                471539        0        0
INTERNATIONAL BUSINESS MACHS   COM              459200101     2956    35661 SH       DEFINED                 35661        0        0
INTL PAPER CO                  COM              460146103       29      848 SH       DEFINED                   848        0        0
IONA TECHNOLOGIES PLC          SPONSORED ADR    46206P109      195    42502 SH       DEFINED                 42502        0        0
ISHARES INC                    MSCI EMU INDEX   464286608        9      105 SH       DEFINED                   105        0        0
ISHARES INC                    MSCI HONG KONG   464286871       16     1150 SH       DEFINED                  1150        0        0
ISHARES INC                    MSCI JAPAN       464286848      868    60000 SH       DEFINED                 60000        0        0
ISHARES INC                    MSCI PAC J IDX   464286665       54      515 SH       DEFINED                   515        0        0
ISHARES INC                    MSCI SINGAPORE   464286673       24     2800 SH       DEFINED                  2800        0        0
ISHARES TR                     LEHMAN AGG BND   464287226        0        0 SH       DEFINED                     0        0        0
ISHARES TR                     MSCI EMERG MKT   464287234       39      390 SH       DEFINED                   390        0        0
ISHARES TR                     S&P 100 IDX FD   464287101      400     6795 SH       DEFINED                  6795        0        0
ISTAR FINL INC                 COM              45031U101       57     1500 SH       DEFINED                  1500        0        0
ITT INDS INC IND               COM              450911102       42      750 SH       DEFINED                   750        0        0
JACUZZI BRANDS INC             COM              469865109        2      180 SH       DEFINED                   180        0        0
JDS UNIPHASE CORP              COM              46612J101        8     2000 SH       DEFINED                  2000        0        0
JLG INDS INC                   COM              466210101    18891   613538 SH       DEFINED                613538        0        0
JOHNSON & JOHNSON              COM              478160104    19150   323362 SH       DEFINED                323362        0        0
JOY GLOBAL INC                 COM              481165108    46437   776927 SH       DEFINED                776927        0        0
JP MORGAN CHASE & CO           COM              46625H100      292     7009 SH       DEFINED                  7009        0        0
JPM FLEMING FDS                COMMON           005369720      213     1634 SH       DEFINED                  1634        0        0
JUNIPER NETWORKS INC           COM              48203R104       11      595 SH       DEFINED                   595        0        0
KELLOGG CO                     COM              487836108     3785    85931 SH       DEFINED                 85931        0        0
KIMBERLY CLARK CORP            COM              494368103       73     1272 SH       DEFINED                  1272        0        0
KINDER MORGAN ENERGY PARTNER   UT LTD PARTNER   494550106      139     1750 SH       DEFINED                  1750        0        0
LIBERTY MEDIA CORP NEW         COM SER A        530718105       93    11220 SH       DEFINED                 11220        0        0
LILLY ELI & CO                 COM              532457108       16      295 SH       DEFINED                   295        0        0
LINEAR TECHNOLOGY CORP         COM              535678106      210     6000 SH       DEFINED                  6000        0        0
M & T BK CORP                  COM              55261F104  3047538 26700000 SH       DEFINED              26700000        0        0
MARATHON OIL CORP              COM              565849106     2061    27063 SH       DEFINED                 27063        0        0
MARSH & MCLENNAN COS INC       COM              571748102       48     1630 SH       DEFINED                  1630        0        0
MARTEK BIOSCIENCES CORP        COM              572901106        3      100 SH       DEFINED                   100        0        0
MAXIM INTEGRATED PRODS INC     COM              57772K101      123     3300 SH       DEFINED                  3300        0        0
MCDATA CORP                    CL A             580031201        0        2 SH       DEFINED                     2        0        0
MCDONALDS CORP                 COM              580135101      222     6463 SH       DEFINED                  6463        0        0
MEDCO HEALTH SOLUTIONS INC     COM              58405U102        1       24 SH       DEFINED                    24        0        0
MEDTRONIC INC                  COM              585055106       77     1500 SH       DEFINED                  1500        0        0
MERCK & CO INC                 COM              589331107       11      300 SH       DEFINED                   300        0        0
MERCURY INTERACTIVE CORP       COMMON           589405109       59     1700 SH       DEFINED                  1700        0        0
MERRILL LYNCH & CO INC         COM              590188108      106     1350 SH       DEFINED                  1350        0        0
MGM MIRAGE                     COM              552953101    18235   423188 SH       DEFINED                423188        0        0
MICROCHIP TECHNOLOGY INC       COM              595017104    16493   454354 SH       DEFINED                454354        0        0
MICRON TECHNOLOGY INC          COM              595112103      124     8445 SH       DEFINED                  8445        0        0
MICROSOFT CORP                 COM              594918104      668    24633 SH       DEFINED                 24633        0        0
MOODYS CORP                    COM              615369105       57      800 SH       DEFINED                   800        0        0
MORGAN STANLEY                 COM NEW          617446448    14482   230527 SH       DEFINED                230527        0        0
MORGAN STANLEY EMER MKTS FD    COM              61744G107      107     4300 SH       DEFINED                  4300        0        0
MOTOROLA INC                   COM              620076109    23462  1024089 SH       DEFINED               1024089        0        0
NASDAQ 100 TR                  UNIT SER 1       631100104      789    18802 SH       DEFINED                 18802        0        0
NATURAL RESOURCE PARTNERS L    COM UNIT L P     63900P103       92     1749 SH       DEFINED                  1749        0        0
NETWORK APPLIANCE INC          COM              64120L104    20197   560548 SH       DEFINED                560548        0        0
NEWFIELD EXPL CO               COM              651290108    14026   334746 SH       DEFINED                334746        0        0
NEWMONT MINING CORP            COM              651639106    30287   583665 SH       DEFINED                583665        0        0
NIKE INC                       CL B             654106103    20764   243994 SH       DEFINED                243994        0        0
NOKIA CORP                     SPONSORED ADR    654902204       54     2617 SH       DEFINED                  2617        0        0
NORTEL NETWORKS CORP NEW       COM              656568102       20     6700 SH       DEFINED                  6700        0        0
NORTH FORK BANCORPORATION NY   COM              659424105       27      900 SH       DEFINED                   900        0        0
NORTHGATE MINERALS CORP        COM              666416102        2      730 SH       DEFINED                   730        0        0
NOVELL INC                     COM              670006105      121    15700 SH       DEFINED                 15700        0        0
NVIDIA CORP                    COM              67066G104      859    15000 SH       DEFINED                 15000        0        0
OCCIDENTAL PETE CORP DEL       COM              674599105       74      770 SH       DEFINED                   770        0        0
OPENTV CORP                    CL A             G67543101       22     7500 SH       DEFINED                  7500        0        0
ORACLE CORP                    COM              68389X105      195    14191 SH       DEFINED                 14191        0        0
ORASURE TECHNOLOGIES INC       COM              68554V108      358    35000 SH       DEFINED                 35000        0        0
OREGON STL MLS INC             COM              686079104       13      250 SH       DEFINED                   250        0        0
PAYCHEX INC                    COM              704326107        8      200 SH       DEFINED                   200        0        0
PEABODY ENERGY CORP            COM              704549104       16      300 SH       DEFINED                   300        0        0
PEPSICO INC                    COM              713448108    12018   207963 SH       DEFINED                207963        0        0
PETSMART INC                   COM              716768106       39     1400 SH       DEFINED                  1400        0        0
PFIZER INC                     COM              717081103    17940   716120 SH       DEFINED                716120        0        0
PHELPS DODGE CORP              COM              717265102    15679   194674 SH       DEFINED                194674        0        0
PMC-SIERRA INC                 COM              69344F106       38     3068 SH       DEFINED                  3068        0        0
PROCTER & GAMBLE CO            COM              742718109    19399   336563 SH       DEFINED                336563        0        0
PRUDENTIAL FINL INC            COM              744320102    14428   190317 SH       DEFINED                190317        0        0
QUALCOMM INC                   COM              747525103    14283   282213 SH       DEFINED                282213        0        0
ROCKWELL AUTOMATION INC        COM              773903109       55      750 SH       DEFINED                   750        0        0
ROWAN COS INC                  COM              779382100      195     4427 SH       DEFINED                  4427        0        0
RYANAIR HLDGS PLC              SPONSORED ADR    783513104      121     2214 SH       DEFINED                  2214        0        0
SANDISK CORP                   COM              80004C101    31233   542996 SH       DEFINED                542996        0        0
SCHEIN HENRY INC               COM              806407102     5058   105670 SH       DEFINED                105670        0        0
SCHERING PLOUGH CORP           COM              806605101      337    17658 SH       DEFINED                 17658        0        0
SCHLUMBERGER LTD               COM              806857108      407     3204 SH       DEFINED                  3204        0        0
SCO GROUP INC                  COM              78403A106        7     1670 SH       DEFINED                  1670        0        0
SKILLSOFT PLC                  SPONSORED ADR    830928107       21     4115 SH       DEFINED                  4115        0        0
SLM CORP                       COM              78442P106       19      370 SH       DEFINED                   370        0        0
SMURFIT-STONE CONTAINER CORP   COM              832727101       63     4633 SH       DEFINED                  4633        0        0
SOLECTRON CORP                 COM              834182107      235    58857 SH       DEFINED                 58857        0        0
SPDR TR                        UNIT SER 1       78462F103     5085    39160 SH       DEFINED                 39160        0        0
SPRINT NEXTEL CORP             COM FON          852061100     5152   199382 SH       DEFINED                199382        0        0
ST JUDE MED INC                COM              790849103       14      340 SH       DEFINED                   340        0        0
ST PAUL TRAVELERS INC          COM              792860108        3      181 SH       DEFINED                   181        0        0
STARWOOD HOTELS&RESORTS WRLD   PAIRED CTF       85590A203    12684   187278 SH       DEFINED                187278        0        0
STERICYCLE INC                 COM              858912108      115     1712 SH       DEFINED                  1712        0        0
STRATEX NETWORKS INC           COM              86279T109        8     1400 SH       DEFINED                  1400        0        0
STRYKER CORP                   COM              863667101       19      420 SH       DEFINED                   420        0        0
SUN MICROSYSTEMS INC           COM              866810104      205    39700 SH       DEFINED                 39700        0        0
SYSCO CORP                     COM              871829107     1282    40001 SH       DEFINED                 40001        0        0
TARGET CORP                    COM              87612E106       28      550 SH       DEFINED                   550        0        0
TD AMERITRADE HLDG CORP        COM              87236Y108    11259   539505 SH       DEFINED                539505        0        0
TEVA PHARMACEUTICAL INDS LTD   ADR              881624209        5      130 SH       DEFINED                   130        0        0
TEXAS INSTRS INC               COM              882508104    24806   763954 SH       DEFINED                763954        0        0
TEXTRON INC                    COM              883203101    11952   127981 SH       DEFINED                127981        0        0
TIME WARNER INC                COM              887317105      188    11140 SH       DEFINED                 11140        0        0
TJX COS INC NEW                COM              872540109        6      250 SH       DEFINED                   250        0        0
TOLL BROTHERS INC              COM              889478103    17546   506680 SH       DEFINED                506680        0        0
TRINITY BIOTECH PLC            SPON ADR NEW     896438306      120    13197 SH       DEFINED                 13197        0        0
TRINTECH GROUP PLC             SPONS ADR NEW    896682200        2      450 SH       DEFINED                   450        0        0
TYCO INTL LTD NEW              COM              902124106      779    28580 SH       DEFINED                 28580        0        0
UNITED TECHNOLOGIES CORP       COM              913017109    25409   438311 SH       DEFINED                438311        0        0
UNITEDHEALTH GROUP INC         COM              91324P102      810    14360 SH       DEFINED                 14360        0        0
VALERO ENERGY CORP NEW         COM              91913Y100       13      210 SH       DEFINED                   210        0        0
VERIZON COMMUNICATIONS         COM              92343V104     2952    86678 SH       DEFINED                 86678        0        0
VERIZON GLOBAL FDG CORP        NOTE         5/1 92344GAN6     1528     2500 PRN      DEFINED                  2500        0        0
VIACOM INC                     CLASS A          925524100       60     1566 SH       DEFINED                  1566        0        0
VODAFONE GROUP PLC NEW         SPONSORED ADR    92857W100     1145    52220 SH       DEFINED                 52220        0        0
WACHOVIA CORP 2ND NEW          COM              929903102      101     1800 SH       DEFINED                  1800        0        0
WAL MART STORES INC            COM              931142103      514    10891 SH       DEFINED                 10891        0        0
WALGREEN CO                    COM              931422109       31      715 SH       DEFINED                   715        0        0
WASHINGTON MUT INC             COM              939322103       78     1750 SH       DEFINED                  1750        0        0
WELLPOINT HEALTH NETWORKS      COMMON           94973H108       46      600 SH       DEFINED                   600        0        0
WELLS FARGO & CO NEW           COM              949746101    12163   190332 SH       DEFINED                190332        0        0
WHOLE FOODS MKT INC            COM              966837106        5       80 SH       DEFINED                    80        0        0
WYETH                          COM              983024100    15475   318945 SH       DEFINED                318945        0        0
XEROX CORP                     COM              984121103      107     7100 SH       DEFINED                  7100        0        0
XILINX INC                     COM              983919101        5      200 SH       DEFINED                   200        0        0
YAHOO INC                      COM              984332106        3       88 SH       DEFINED                    88        0        0
ZIMMER HLDGS INC               COM              98956P102     4235    62895 SH       DEFINED                 62895        0        0