UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 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: Office of the Secretary
         Block E 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 6412348

Signature, Place, and Date of Signing:

     /s/  John Burns     Dublin, Ireland     November 08, 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:     231

Form13F Information Table Value Total:     $3,890,824 (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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
3M CO                          COM              88579Y101      120     1620 SH       DEFINED                  1620        0        0
ABBOTT LABS                    COM              002824100      824    18566 SH       DEFINED                 18566        0        0
AETNA INC NEW                  COM              00817Y108      195     4980 SH       DEFINED                  4980        0        0
AGILENT TECHNOLOGIES INC       COM              00846U101        1       32 SH       DEFINED                    32        0        0
ALCOA INC                      COM              013817101       80     2860 SH       DEFINED                  2860        0        0
ALLERGAN INC                   COM              018490102       11       97 SH       DEFINED                    97        0        0
ALLSTATE CORP                  COM              020002101       75     1200 SH       DEFINED                  1200        0        0
ALLTEL CORP                    COM              020039103       55     1000 SH       DEFINED                  1000        0        0
ALTRIA GROUP INC               COM              02209S103     8948   121799 SH       DEFINED                121799        0        0
AMERICAN EXPRESS CO            COM              025816109     5553   104118 SH       DEFINED                104118        0        0
AMERICAN INTL GROUP INC        COM              026874107    11299   190460 SH       DEFINED                190460        0        0
AMGEN INC                      COM              031162100    13940   213070 SH       DEFINED                213070        0        0
ANALOG DEVICES INC             COM              032654105       14      460 SH       DEFINED                   460        0        0
ANHEUSER BUSCH COS INC         COM              035229103      352     6732 SH       DEFINED                  6732        0        0
APACHE CORP                    COM              037411105     8863   130106 SH       DEFINED                130106        0        0
APPLE COMPUTER INC             COM              037833100      160     2085 SH       DEFINED                  2085        0        0
ARROW INTL INC                 COM              042764100       78     2500 SH       DEFINED                  2500        0        0
AT&T INC                       COM              00206R102     4510   161712 SH       DEFINED                161712        0        0
AUTOMATIC DATA PROCESSING IN   COM              053015103      142     3004 SH       DEFINED                  3004        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      560    18068 SH       DEFINED                 18068        0        0
AWARE INC MASS                 COM              05453N100        2      400 SH       DEFINED                   400        0        0
BAKER HUGHES INC               COM              057224107     1397    17070 SH       DEFINED                 17070        0        0
BANK OF AMERICA CORPORATION    COM              060505104    20002   417374 SH       DEFINED                417374        0        0
BARRICK GOLD CORP              COM              067901108    13218   446085 SH       DEFINED                446085        0        0
BERKSHIRE HATHAWAY INC DEL     CL B             084670207     2721      861 SH       DEFINED                   861        0        0
BHP BILLITON LTD               SPONSORED ADR    088606108       89     3510 SH       DEFINED                  3510        0        0
BIOGEN INC                     COMMON           090597105       80     1800 SH       DEFINED                  1800        0        0
BIOMET INC                     COM              090613100       23      700 SH       DEFINED                   700        0        0
BMC SOFTWARE INC               COM              055921100       13      470 SH       DEFINED                   470        0        0
BOEING CO                      COM              097023105       95     1200 SH       DEFINED                  1200        0        0
BOSTON SCIENTIFIC CORP         COM              101137107       27     1770 SH       DEFINED                  1770        0        0
BOTTOMLINE TECH DEL INC        COM              101388106        6      597 SH       DEFINED                   597        0        0
BP PLC                         SPONSORED ADR    055622104       97    10283 SH       DEFINED                 10283        0        0
BRISTOL MYERS SQUIBB CO        COM              110122108      113     4596 SH       DEFINED                  4596        0        0
CAMECO CORP                    COM              13321L108      584    15750 SH       DEFINED                 15750        0        0
CAMERON INTERNATIONAL CORP     COM              13342B105     6908   144620 SH       DEFINED                144620        0        0
CAMPBELL SOUP CO               COM              134429109      256     6910 SH       DEFINED                  6910        0        0
CAPITAL ONE FINL CORP          COM              14040H105       52      650 SH       DEFINED                   650        0        0
CARDINAL HEALTH INC            COM              14149Y108      467     7255 SH       DEFINED                  7255        0        0
CARNIVAL CORP                  COMMON           143658102       82     1751 SH       DEFINED                  1751        0        0
CARNIVAL CORP                  PAIRED CTF       143658300      409     8610 SH       DEFINED                  8610        0        0
CATERPILLAR INC DEL            COM              149123101      228     3112 SH       DEFINED                  3112        0        0
CELESTICA INC                  SUB VTG SHS      15101Q108       18     1500 SH       DEFINED                  1500        0        0
CEVA INC                       COM              157210105       21     7283 SH       DEFINED                  7283        0        0
CHECK POINT SOFTWARE TECH LT   ORD              M22465104        3      170 SH       DEFINED                   170        0        0
CHEVRON CORP NEW               COM              166764100     5645    90954 SH       DEFINED                 90954        0        0
CISCO SYS INC                  COM              17275R102      555    23788 SH       DEFINED                 23788        0        0
CITIGROUP INC                  COM              172967101    26986   556913 SH       DEFINED                556913        0        0
CITRIX SYS INC                 COM              177376100    12051   300517 SH       DEFINED                300517        0        0
COCA COLA CO                   COM              191216100    11910   276586 SH       DEFINED                276586        0        0
COINMACH SVC CORP              CL A             19259W206       50     5000 SH       DEFINED                  5000        0        0
COLGATE PALMOLIVE CO           COM              194162103      692    11099 SH       DEFINED                 11099        0        0
COMCAST CORP NEW               CL A SPL         20030N200       67     1850 SH       DEFINED                  1850        0        0
CONOCOPHILLIPS                 COM              20825C104     9877   150727 SH       DEFINED                150727        0        0
CONSOLIDATED EDISON INC        COM              209115104        6      125 SH       DEFINED                   125        0        0
COOPER INDS LTD                CL A             G24182100    16990   182841 SH       DEFINED                182841        0        0
CVS CORP                       COM              126650100       74     2900 SH       DEFINED                  2900        0        0
D R HORTON INC                 COM              23331A109    11187   469638 SH       DEFINED                469638        0        0
DAKTRONICS INC                 COM              234264109       13      620 SH       DEFINED                   620        0        0
DEERE & CO                     COM              244199105      132     1560 SH       DEFINED                  1560        0        0
DELL COMPUTER CORP             COMMON           247025109       54     2400 SH       DEFINED                  2400        0        0
DELL INC                       COM              24702R101       14      630 SH       DEFINED                   630        0        0
DENTSPLY INTL INC NEW          COM              249030107        5      170 SH       DEFINED                   170        0        0
DISNEY WALT CO                 COM DISNEY       254687106      253     8195 SH       DEFINED                  8195        0        0
DONNELLEY R R & SONS CO        COM              257867101       34     1100 SH       DEFINED                  1100        0        0
DOVER CORP                     COM              260003108        9      190 SH       DEFINED                   190        0        0
DOW CHEM CO                    COM              260543103       59     1500 SH       DEFINED                  1500        0        0
E M C CORP MASS                COM              268648102       29     2529 SH       DEFINED                  2529        0        0
EBAY INC                       COM              278642103     4435   151450 SH       DEFINED                151450        0        0
EL PASO CORP                   COM              28336L109       11      800 SH       DEFINED                   800        0        0
ELAN PLC                       ADR              284131208      591    38390 SH       DEFINED                 38390        0        0
EMERSON ELEC CO                COM              291011104     5426    64755 SH       DEFINED                 64755        0        0
ENBRIDGE ENERGY PARTNERS L P   COM              29250R106       94     2032 SH       DEFINED                  2032        0        0
ENCANA CORP                    COM              292505104      117     2500 SH       DEFINED                  2500        0        0
ENSCO INTL INC                 COM              26874Q100     5106   110953 SH       DEFINED                110953        0        0
ERICSSON L M TEL CO            ADR B SEK 10     294821608        9      240 SH       DEFINED                   240        0        0
EXELIXIS INC                   COM              30161Q104        9     1000 SH       DEFINED                  1000        0        0
EXPEDIA INC                    CLASS A          302125109       26     1650 SH       DEFINED                  1650        0        0
EXPEDITORS INTL WASH INC       COM              302130109       45     1000 SH       DEFINED                  1000        0        0
EXXON MOBIL CORP               COM              30231G102    23934   391349 SH       DEFINED                391349        0        0
FEDEX CORP                     COM              31428X106      311     2840 SH       DEFINED                  2840        0        0
FLEXTRONICS INTL LTD           ORD              Y2573F102       52     4100 SH       DEFINED                  4100        0        0
FOSTER WHEELER LIMITED         COMMON           G36535105      137     3500 SH       DEFINED                  3500        0        0
GANNETT INC                    COM              364730101      552     9815 SH       DEFINED                  9815        0        0
GENERAL ELECTRIC CO            COM              369604103    20369   614610 SH       DEFINED                614610        0        0
GENERAL MLS INC                COM              370334104        6      120 SH       DEFINED                   120        0        0
GENTA INC                      COM NEW          37245M207        2     2050 SH       DEFINED                  2050        0        0
GENWORTH FINL INC              COM CL A         37247D106     9167   263107 SH       DEFINED                263107        0        0
GENZYME CORP                   COM              372917104     5519    90404 SH       DEFINED                 90404        0        0
GIVEN IMAGING                  ORD SHS          M52020100        4      220 SH       DEFINED                   220        0        0
GLAXOSMITHKLINE PLC            SPONSORED ADR    37733W105       70     1320 SH       DEFINED                  1320        0        0
GOLDMAN SACHS GROUP INC        COM              38141G104      179     1050 SH       DEFINED                  1050        0        0
GOOGLE INC                     CL A             38259P508       13       33 SH       DEFINED                    33        0        0
HALLIBURTON CO                 COM              406216101     9515   128211 SH       DEFINED                128211        0        0
HARLEY DAVIDSON INC            COM              412822108    11136   202886 SH       DEFINED                202886        0        0
HCA INC                        COM              404119109       23      600 SH       DEFINED                   600        0        0
HEALTH MGMT ASSOC INC NEW      CL A             421933102        4      215 SH       DEFINED                   215        0        0
HEINZ H J CO                   COM              423074103       50     1211 SH       DEFINED                  1211        0        0
HEWLETT PACKARD CO             COM              428236103     5741   180793 SH       DEFINED                180793        0        0
HILTON HOTELS CORP             COM              432848109       22     1000 SH       DEFINED                  1000        0        0
HOME DEPOT INC                 COM              437076102      434    12090 SH       DEFINED                 12090        0        0
HONEYWELL INTL INC             COM              438516106      326     8025 SH       DEFINED                  8025        0        0
HOST HOTELS & RESORTS INC      COM              44107P104       43     1954 SH       DEFINED                  1954        0        0
ICON PUB LTD CO                SPONSORED ADR    45103T107       82     1159 SH       DEFINED                  1159        0        0
ILLINOIS TOOL WKS INC          COM              452308109     4215    90014 SH       DEFINED                 90014        0        0
INCO LTD                       COM              453258402        0        5 SH       DEFINED                     5        0        0
INGERSOLL-RAND COMPANY LTD     CL A             G4776G101      120     3108 SH       DEFINED                  3108        0        0
INTEL CORP                     COM              458140100    10821   566728 SH       DEFINED                566728        0        0
INTERNATIONAL BUSINESS MACHS   COM              459200101     1427    17427 SH       DEFINED                 17427        0        0
INTERNATIONAL GAME TECHNOLOG   COM              459902102     9309   245369 SH       DEFINED                245369        0        0
INTL PAPER CO                  COM              460146103        3      100 SH       DEFINED                   100        0        0
IONA TECHNOLOGIES PLC          SPONSORED ADR    46206P109      108    25049 SH       DEFINED                 25049        0        0
ISHARES INC                    MSCI EMU INDEX   464286608       10      105 SH       DEFINED                   105        0        0
ISHARES INC                    MSCI HONG KONG   464286871       16     1150 SH       DEFINED                  1150        0        0
ISHARES INC                    MSCI JAPAN       464286848      461    34000 SH       DEFINED                 34000        0        0
ISHARES INC                    MSCI PAC J IDX   464286665       57      515 SH       DEFINED                   515        0        0
ISHARES INC                    MSCI SINGAPORE   464286673       26     2800 SH       DEFINED                  2800        0        0
ISHARES TR                     MSCI EMERG MKT   464287234       38      390 SH       DEFINED                   390        0        0
ISHARES TR                     S&P 100 IDX FD   464287101      256     4415 SH       DEFINED                  4415        0        0
ISTAR FINL INC                 COM              45031U101       62     1500 SH       DEFINED                  1500        0        0
JACUZZI BRANDS INC             COM              469865109        2      180 SH       DEFINED                   180        0        0
JLG INDS INC                   COM              466210101     4682   208104 SH       DEFINED                208104        0        0
JOHNSON & JOHNSON              COM              478160104    21946   363208 SH       DEFINED                363208        0        0
JOY GLOBAL INC                 COM              481165108    14097   270621 SH       DEFINED                270621        0        0
JP MORGAN CHASE & CO           COM              46625H100     7012   166152 SH       DEFINED                166152        0        0
JPM FLEMING FDS                COMMON           005369720      198     1634 SH       DEFINED                  1634        0        0
JUNIPER NETWORKS INC           COM              48203R104        5      270 SH       DEFINED                   270        0        0
KELLOGG CO                     COM              487836108     4599    94834 SH       DEFINED                 94834        0        0
KINDER MORGAN ENERGY PARTNER   UT LTD PARTNER   494550106       22      500 SH       DEFINED                   500        0        0
KINDER MORGAN INC KANS         COM              49455P101      262     2500 SH       DEFINED                  2500        0        0
LEHMAN BROS HLDGS INC          COM              524908100        6       90 SH       DEFINED                    90        0        0
LIBERTY MEDIA CORP             COMMON           530718105      124    13842 SH       DEFINED                 13842        0        0
LILLY ELI & CO                 COM              532457108       23      435 SH       DEFINED                   435        0        0
M & T BK CORP                  COM              55261F104  3202932 26700000 SH       Defined              26700000        0        0
MARATHON OIL CORP              COM              565849106     2254    27063 SH       DEFINED                 27063        0        0
MARSH & MCLENNAN COS INC       COM              571748102       70     2230 SH       DEFINED                  2230        0        0
MCDATA CORP                    CL A             580031201        0        2 SH       DEFINED                     2        0        0
MCDONALDS CORP                 COM              580135101      296     8451 SH       DEFINED                  8451        0        0
MCGRAW HILL COS INC            COM              580645109       23      110 SH       DEFINED                   110        0        0
MEDCO HEALTH SOLUTIONS INC     COM              58405U102        1       24 SH       DEFINED                    24        0        0
MEDTRONIC INC                  COM              585055106       46     1500 SH       DEFINED                  1500        0        0
MERCK & CO INC                 COM              589331107     9351   256652 SH       DEFINED                256652        0        0
MERRILL LYNCH & CO INC         COM              590188108      201     2550 SH       DEFINED                  2550        0        0
MGM MIRAGE                     COM              552953101     8739   214192 SH       DEFINED                214192        0        0
MICROCHIP TECHNOLOGY INC       COM              595017104    11191   333563 SH       DEFINED                333563        0        0
MICROSOFT CORP                 COM              594918104    13964   596455 SH       DEFINED                596455        0        0
MOLEX INC                      COM              608554101        4      125 SH       DEFINED                   125        0        0
MOODYS CORP                    COM              615369105       43      600 SH       DEFINED                   600        0        0
MORGAN STANLEY                 COM NEW          617446448     7527   119016 SH       DEFINED                119016        0        0
MORGAN STANLEY                 QUALT MUN INCM   61745P734        7      800 SH       DEFINED                   800        0        0
MORGAN STANLEY EMER MKTS FD    COM              61744G107      106     4300 SH       DEFINED                  4300        0        0
MOTOROLA INC                   COM              620076109     7846   389327 SH       DEFINED                389327        0        0
NASDAQ 100 TR                  UNIT SER 1       631100104      280     6860 SH       DEFINED                  6860        0        0
NATURAL RESOURCE PARTNERS L    COM UNIT L P     63900P103       50     1749 SH       DEFINED                  1749        0        0
NETWORK APPLIANCE INC          COM              64120L104    10234   289904 SH       DEFINED                289904        0        0
NEWMONT MINING CORP            COM              651639106       98     2297 SH       DEFINED                  2297        0        0
NIKE INC                       CL B             654106103    11477   141688 SH       DEFINED                141688        0        0
NORTEL NETWORKS CORP NEW       COM              656568102       16     6700 SH       DEFINED                  6700        0        0
NORTHERN TR CORP               COM              665859104        7      120 SH       DEFINED                   120        0        0
NORTHGATE MINERALS CORP        COM              666416102        3      730 SH       DEFINED                   730        0        0
OCCIDENTAL PETE CORP DEL       COM              674599105       97     2052 SH       DEFINED                  2052        0        0
OMNICOM GROUP INC              COM              681919106     8267    92790 SH       DEFINED                 92790        0        0
OPENTV CORP                    CL A             G67543101       22     7500 SH       DEFINED                  7500        0        0
ORACLE CORP                    COM              68389X105      205    17380 SH       DEFINED                 17380        0        0
ORASURE TECHNOLOGIES INC       COM              68554V108      285    35000 SH       DEFINED                 35000        0        0
OREGON STL MLS INC             COM              686079104       12      250 SH       DEFINED                   250        0        0
PAYCHEX INC                    COM              704326107        7      200 SH       DEFINED                   200        0        0
PEABODY ENERGY CORP            COM              704549104       24     2700 SH       DEFINED                  2700        0        0
PEPSICO INC                    COM              713448108    14000   232567 SH       DEFINED                232567        0        0
PETSMART INC                   COM              716768106       95     3408 SH       DEFINED                  3408        0        0
PFIZER INC                     COM              717081103     9436   370293 SH       DEFINED                370293        0        0
PMC-SIERRA INC                 COM              69344F106       19     3068 SH       DEFINED                  3068        0        0
PROCTER & GAMBLE CO            COM              742718109    24539   439842 SH       DEFINED                439842        0        0
PRUDENTIAL FINL INC            COM              744320102     7825   100709 SH       DEFINED                100709        0        0
QUALCOMM INC                   COM              747525103       51     1360 SH       DEFINED                  1360        0        0
ROCKWELL AUTOMATION INC        COM              773903109     5802    80579 SH       DEFINED                 80579        0        0
ROCKWELL COLLINS INC           COM              774341101       28      750 SH       DEFINED                   750        0        0
ROWAN COS INC                  COM              779382100      148     4145 SH       DEFINED                  4145        0        0
ROYAL BK CDA MONTREAL QUE      COM              780087102       44     1000 SH       DEFINED                  1000        0        0
RYANAIR HLDGS PLC              SPONSORED ADR    783513104     1271    20075 SH       DEFINED                 20075        0        0
SCHEIN HENRY INC               COM              806407102     1248    25307 SH       DEFINED                 25307        0        0
SCHERING PLOUGH CORP           COM              806605101      206    10826 SH       DEFINED                 10826        0        0
SCHLUMBERGER LTD               COM              806857108      363     5728 SH       DEFINED                  5728        0        0
SCO GROUP INC                  COM              78403A106        3     1670 SH       DEFINED                  1670        0        0
SKILLSOFT PLC                  SPONSORED ADR    830928107       15     2570 SH       DEFINED                  2570        0        0
SLM CORP                       COM              78442P106       19      370 SH       DEFINED                   370        0        0
SMITH & NEPHEW PLC             SPDN ADR NEW     83175M205      242     5300 SH       DEFINED                  5300        0        0
SMURFIT-STONE CONTAINER CORP   COM              832727101       51     4633 SH       DEFINED                  4633        0        0
SPDR TR                        UNIT SER 1       78462F103     7547    56535 SH       DEFINED                 56535        0        0
SPRINT NEXTEL CORP             COM FON          852061100     2236   111871 SH       DEFINED                111871        0        0
ST PAUL TRAVELERS INC          COM              792860108        4      164 SH       DEFINED                   164        0        0
STARWOOD HOTELS&RESORTS WRLD   COM              85590A401     5966    98876 SH       DEFINED                 98876        0        0
STERICYCLE INC                 COM              858912108       57      820 SH       DEFINED                   820        0        0
STRATEX NETWORKS INC           COM              86279T109        6     1400 SH       DEFINED                  1400        0        0
SUN MICROSYSTEMS INC           COM              866810104       53    10700 SH       DEFINED                 10700        0        0
SWISS HELVETIA FD INC          COM              870875101       53     2800 SH       DEFINED                  2800        0        0
SYSCO CORP                     COM              871829107    14014   458579 SH       DEFINED                458579        0        0
TARGET CORP                    COM              87612E106       27      650 SH       DEFINED                   650        0        0
TD AMERITRADE HLDG CORP        COM              87236Y108    10037   677702 SH       DEFINED                677702        0        0
TEVA PHARMACEUTICAL INDS LTD   ADR              881624209        4      130 SH       DEFINED                   130        0        0
TEXAS INSTRS INC               COM              882508104     6229   205404 SH       DEFINED                205404        0        0
TIME WARNER INC                COM              887317105       41     2228 SH       DEFINED                  2228        0        0
TJX COS INC NEW                COM              872540109        7      250 SH       DEFINED                   250        0        0
TODCO                          COM              88889T107       20     1200 SH       DEFINED                  1200        0        0
TOLL BROTHERS INC              COM              889478103    10883   425601 SH       DEFINED                425601        0        0
TOTAL S A                      SPONSORED ADR    89151E109       24      364 SH       DEFINED                   364        0        0
TRINTECH GROUP PLC             SPONS ADR NEW    896682200       21     6681 SH       DEFINED                  6681        0        0
TYCO INTL LTD NEW              COM              902124106      328    11760 SH       DEFINED                 11760        0        0
UCBH HOLDINGS INC              COM              90262T308       87     5000 SH       DEFINED                  5000        0        0
UNITED PARCEL SERVICE INC      CL B             911312106     8536   103679 SH       DEFINED                103679        0        0
UNITED TECHNOLOGIES CORP       COM              913017109     8814   138977 SH       DEFINED                138977        0        0
UNITEDHEALTH GROUP INC         COM              91324P102    10277   219173 SH       DEFINED                219173        0        0
VALERO ENERGY CORP NEW         COM              91913Y100       31      610 SH       DEFINED                   610        0        0
VERIZON COMMUNICATIONS         COM              92343V104     3143    93828 SH       DEFINED                 93828        0        0
VERTEX PHARMACEUTICALS INC     COM              92532F100       13      400 SH       DEFINED                   400        0        0
VODAFONE GROUP PLC             SPON ADR         92857W100       50    22598 SH       DEFINED                 22598        0        0
VORNADO RLTY TR                SH BEN INT       929042109       83      750 SH       DEFINED                   750        0        0
WACHOVIA CORP 2ND NEW          COM              929903102     4706    86945 SH       DEFINED                 86945        0        0
WAL MART STORES INC            COM              931142103    18304   379936 SH       DEFINED                379936        0        0
WALGREEN CO                    COM              931422109       25      715 SH       DEFINED                   715        0        0
WASHINGTON MUT INC             COM              939322103       75     1750 SH       DEFINED                  1750        0        0
WASTE MGMT INC DEL             COM              94106L109        5      145 SH       DEFINED                   145        0        0
WELLPOINT HEALTH NETWORKS      COMMON           94973H108       51      600 SH       DEFINED                   600        0        0
WELLS FARGO & CO NEW           COM              949746101    19260   304952 SH       DEFINED                304952        0        0
WHOLE FOODS MKT INC            COM              966837106        5       80 SH       DEFINED                    80        0        0
WRIGLEY WM JR CO               COM              982526105       34      750 SH       DEFINED                   750        0        0
WYETH                          COM              983024100    12391   278945 SH       DEFINED                278945        0        0
YAHOO INC                      COM              984332106       45     1800 SH       DEFINED                  1800        0        0
ZIMMER HLDGS INC               COM              98956P102     3384    50110 SH       DEFINED                 50110        0        0