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

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: December 31, 2008

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 K 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:      David O'Callaghan
Title:     Assistant Secretary, Office of the Secretary
Phone:     00 353 1 6414672

Signature, Place, and Date of Signing:

     /s/ David O'Callaghan     Dublin, Ireland     February 02, 2009


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:     237

Form13F Information Table Value Total:     $2,183,541 (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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ABBOTT LABS                    COM              002824100    14847   278202 SH       DEFINED                278202        0        0
ACTIVIDENTITY CORP             COM              00506P103        3     1745 SH       DEFINED                  1745        0        0
ACTIVISION BLIZZARD INC        COM              00507V109       43       95 SH       DEFINED                    95        0        0
ADOBE SYS INC                  COM              00724F101       27     5000 SH       DEFINED                  5000        0        0
ADVANCE AUTO PARTS INC         COM              00751Y106       53     1245 SH       DEFINED                  1245        0        0
AETNA INC NEW                  COM              00817Y108       57     2000 SH       DEFINED                  2000        0        0
AIR PRODS & CHEMS INC          COM              009158106       48     1577 SH       DEFINED                  1577        0        0
ALCATEL-LUCENT                 SPONSORED ADR    013904305        0       14 SH       DEFINED                    14        0        0
ALLERGAN INC                   COM              018490102        4       97 SH       DEFINED                    97        0        0
ALTRIA GROUP INC               COM              02209S103      141     9381 SH       DEFINED                  9381        0        0
AMERICAN ELEC PWR INC          COM              025537101      256     1000 SH       DEFINED                  1000        0        0
AMERICAN EXPRESS CO            COM              025816109       22     7700 SH       DEFINED                  7700        0        0
AMERICAN INTL GROUP INC        COM              026874107        3     1300 SH       DEFINED                  1300        0        0
AMGEN INC                      COM              031162100        6      111 SH       DEFINED                   111        0        0
ANALOG DEVICES INC             COM              032654105        2       95 SH       DEFINED                    95        0        0
ANNALY CAP MGMT INC            COM              035710409      229     1656 SH       DEFINED                  1656        0        0
APPLE INC                      COM              037833100     5696    78955 SH       DEFINED                 78955        0        0
AT&T CORP NEW                  COMMON           001957505      378     1987 SH       DEFINED                  1987        0        0
AT&T INC                       COM              00206R102    12741   447059 SH       DEFINED                447059        0        0
AUTODESK INC                   COM              052769106        8    15176 SH       DEFINED                 15176        0        0
AVOCENT CORP                   COM              053893103        7      400 SH       DEFINED                   400        0        0
AVON PRODS INC                 COM              054303102      106     4410 SH       DEFINED                  4410        0        0
AWARE INC MASS                 COM              05453N100        1      400 SH       DEFINED                   400        0        0
BAKER HUGHES INC               COM              057224107      533    16606 SH       DEFINED                 16606        0        0
BANK OF AMERICA CORPORATION    COM              060505104     4777   331124 SH       DEFINED                331124        0        0
BARRICK GOLD CORP              COM              067901108     3654   103148 SH       DEFINED                103148        0        0
BAXTER INTL INC                COM              071813109    13415   253245 SH       DEFINED                253245        0        0
BECKMAN COULTER INC            COM              075811109       57     1961 SH       DEFINED                  1961        0        0
BERKSHIRE HATHAWAY INC DEL     CL B             084670207     1322      433 SH       DEFINED                   433        0        0
BHP BILLITON PLC               SPONSORED ADR    05545E209      334     1300 SH       DEFINED                  1300        0        0
BMC SOFTWARE INC               COM              055921100       13      470 SH       DEFINED                   470        0        0
BOARDWALK PIPELINE PARTNERS    UT LTD PARTNER   096627104       98     7785 SH       DEFINED                  7785        0        0
BOEING CO                      COM              097023105       21     5500 SH       DEFINED                  5500        0        0
BOTTOMLINE TECH DEL INC        COM              101388106        4      597 SH       DEFINED                   597        0        0
BP PLC                         SPONSORED ADR    055622104     3246    10518 SH       DEFINED                 10518        0        0
BRISTOL MYERS SQUIBB CO        COM              110122108      198    61041 SH       DEFINED                 61041        0        0
BROOKFIELD ASSET MGMT INC      CL A LTD VT SH   112585104      107     6732 SH       DEFINED                  6732        0        0
BURGER KING HLDGS INC          COM              121208201        3     7000 SH       DEFINED                  7000        0        0
BURLINGTON NORTHN SANTA FE C   COM              12189T104     9539   125259 SH       DEFINED                125259        0        0
CAMECO CORP                    COM              13321L108      181    10600 SH       DEFINED                 10600        0        0
CAMPBELL SOUP CO               COM              134429109      246     8212 SH       DEFINED                  8212        0        0
CARNIVAL CORP                  COMMON           143658102       97      850 SH       DEFINED                   850        0        0
CARNIVAL CORP                  PAIRED CTF       143658300       20      835 SH       DEFINED                   835        0        0
CATERPILLAR INC DEL            COM              149123101      170     6712 SH       DEFINED                  6712        0        0
CELERA CORP                    COM              15100E106        1      102 SH       DEFINED                   102        0        0
CELGENE CORP                   COM              151020104    11543   209324 SH       DEFINED                209324        0        0
CEVA INC                       COM              157210105        0      121 SH       DEFINED                   121        0        0
CHESAPEAKE ENERGY CORP         COM              165167107        9      576 SH       DEFINED                   576        0        0
CHEVRON CORP NEW               COM              166764100    10183   132719 SH       DEFINED                132719        0        0
CISCO SYS INC                  COM              17275R102    12023   723432 SH       DEFINED                723432        0        0
CITADEL BROADCASTING CORP      COM              17285T106        0       54 SH       DEFINED                    54        0        0
CITIGROUP INC                  COM              172967101      115    31173 SH       DEFINED                 31173        0        0
CME GROUP INC                  COMMON           12572Q 90       24     5365 SH       DEFINED                  5365        0        0
COCA COLA CO                   COM              191216100      524     7900 SH       DEFINED                  7900        0        0
COLGATE PALMOLIVE CO           COM              194162103    10353   148512 SH       DEFINED                148512        0        0
CONOCOPHILLIPS                 COM              20825C104     8012   161855 SH       DEFINED                161855        0        0
CONSOL ENERGY INC              COM              20854P109       12      200 SH       DEFINED                   200        0        0
COOPER INDS LTD                CL A             G24182100      957    32731 SH       DEFINED                 32731        0        0
CORNING INC                    COM              219350105       14      400 SH       DEFINED                   400        0        0
COVIDIEN LTD                   COM              G2552X108      377    10411 SH       DEFINED                 10411        0        0
CVS CAREMARK CORPORATION       COM              126650100      389     1479 SH       DEFINED                  1479        0        0
DEERE & CO                     COM              244199105       21    13550 SH       DEFINED                 13550        0        0
DELL INC                       COM              24702R101       43     3880 SH       DEFINED                  3880        0        0
DENBURY RES INC                COM NEW          247916208       44     1000 SH       DEFINED                  1000        0        0
DENTSPLY INTL INC NEW          COM              249030107        5     4000 SH       DEFINED                  4000        0        0
DIAMOND OFFSHORE DRILLING IN   COM              25271C102       32      530 SH       DEFINED                   530        0        0
DILLARDS INC                   CL A             254067101        2      170 SH       DEFINED                   170        0        0
DISNEY WALT CO                 COM DISNEY       254687106      116     1000 SH       DEFINED                  1000        0        0
DOLLAR TREE INC                COM              256746108    13068   313457 SH       DEFINED                313457        0        0
DONNELLEY R R & SONS CO        COM              257867101       15     4695 SH       DEFINED                  4695        0        0
DOVER CORP                     COM              260003108        3     1100 SH       DEFINED                  1100        0        0
DU PONT E I DE NEMOURS & CO    COM              263534109       13       95 SH       DEFINED                    95        0        0
E M C CORP MASS                COM              268648102      139     2050 SH       DEFINED                  2050        0        0
EASTMAN CHEM CO                COM              277432100       16    11795 SH       DEFINED                 11795        0        0
EBAY INC                       COM              278642103       11      500 SH       DEFINED                   500        0        0
ECOLAB INC                     COM              278865100       38      800 SH       DEFINED                   800        0        0
ELAN PLC                       ADR              284131208      195    33616 SH       DEFINED                 33616        0        0
ELECTRONIC ARTS INC            COM              285512109       25     1570 SH       DEFINED                  1570        0        0
EMERSON ELEC CO                COM              291011104    11990   328353 SH       DEFINED                328353        0        0
ENBRIDGE INC                   CALL             29250N905      198      160 SH       DEFINED                   160        0        0
ENERGY TRANSFER PRTNRS L P     UNIT LTD PARTN   29273R109       13     5000 SH       DEFINED                  5000        0        0
ENTERGY CORP NEW               COM              29364G103      104      400 SH       DEFINED                   400        0        0
ERICSSON L M TEL CO            ADR B SEK 10     294821608        2      320 SH       DEFINED                   320        0        0
EXPEDITORS INTL WASH INC       COM              302130109      150     1250 SH       DEFINED                  1250        0        0
EXPRESS SCRIPTS INC            COM              302182100       55     4500 SH       DEFINED                  4500        0        0
EXXON MOBIL CORP               COM              30231G102    40602   503476 SH       DEFINED                503476        0        0
FEDEX CORP                     COM              31428X106      112     1800 SH       DEFINED                  1800        0        0
FIRST SOLAR INC                COM              336433107       25     6221 SH       DEFINED                  6221        0        0
FLEXTRONICS INTL LTD           ORD              Y2573F102       12      200 SH       DEFINED                   200        0        0
FLIR SYS INC                   COM              302445101      590    19235 SH       DEFINED                 19235        0        0
FLUOR CORP NEW                 COM              343412102       90     4600 SH       DEFINED                  4600        0        0
FPL GROUP INC                  COM              302571104      300     2000 SH       DEFINED                  2000        0        0
FREEPORT-MCMORAN COPPER & GO   COM              35671D857     7993   332494 SH       DEFINED                332494        0        0
GAYLORD ENTMT CO NEW           COM              367905106       11      500 SH       DEFINED                   500        0        0
GENENTECH INC                  COM NEW          368710406      244     1000 SH       DEFINED                  1000        0        0
GENERAL CABLE CORP DEL NEW     COM              369300108       58     2942 SH       DEFINED                  2942        0        0
GENERAL ELECTRIC CO            COM              369604103    15291   943429 SH       DEFINED                943429        0        0
GENERAL MLS INC                COM              370334104    10730   180373 SH       DEFINED                180373        0        0
GENESIS ENERGY L P             UNIT LTD PARTN   371927104       52      120 SH       DEFINED                   120        0        0
GILEAD SCIENCES INC            COM              375558103       63     6000 SH       DEFINED                  6000        0        0
GLAXOSMITHKLINE PLC            SPONSORED ADR    37733W105       49     1320 SH       DEFINED                  1320        0        0
GOLDMAN SACHS GROUP INC        COM              38141G104      147     1400 SH       DEFINED                  1400        0        0
GOOGLE INC                     CLASS A          28259P508      172     1745 SH       DEFINED                  1745        0        0
GRAINGER W W INC               COM              384802104       35      560 SH       DEFINED                   560        0        0
GREATER CHINA FUND INC         COMMON           39167R102       16      500 SH       DEFINED                   500        0        0
HALLIBURTON CO                 COM              406216101       39     2130 SH       DEFINED                  2130        0        0
HESS CORP                      COM              42809H107      120     2498 SH       DEFINED                  2498        0        0
HEWLETT PACKARD CO             COM              428236103    12807   351127 SH       DEFINED                351127        0        0
HONEYWELL INTL INC             COM              438516106      222     9352 SH       DEFINED                  9352        0        0
HUDSON CITY BANCORP            COM              443683107      101     1200 SH       DEFINED                  1200        0        0
ICON PUB LTD CO                SPONSORED ADR    45103T107     1904   101640 SH       DEFINED                101640        0        0
ILLINOIS TOOL WKS INC          COM              452308109     1568    44735 SH       DEFINED                 44735        0        0
INGERSOLL-RAND COMPANY LTD     CL A             G4776G101       21     6324 SH       DEFINED                  6324        0        0
INTEL CORP                     COM              458140100     6326   412079 SH       DEFINED                412079        0        0
INTERNATIONAL BUSINESS MACHS   COM              459200101    15901   208335 SH       DEFINED                208335        0        0
INTL PAPER CO                  COM              460146103        7      600 SH       DEFINED                   600        0        0
INTUIT                         COM              461202103      141     5932 SH       DEFINED                  5932        0        0
ISHARES INC                    MSCI JAPAN       464286848      285    30000 SH       DEFINED                 30000        0        0
ISHARES TR                     CONS SRVC IDX    464287580      920    22160 SH       DEFINED                 22160        0        0
ISHARES TR                     DJ SEL DIV INX   464287168      268     6500 SH       DEFINED                  6500        0        0
ISHARES TR                     MSCI EMERG MKT   464287234       14      585 SH       DEFINED                   585        0        0
JOHNSON & JOHNSON              COM              478160104    14763   245049 SH       DEFINED                245049        0        0
JPM FLEMING FDS                AMER MICRO CAP A 005369720       91     1634 SH       DEFINED                  1634        0        0
JPMORGAN & CHASE & CO          COM              46625H100     7854   253510 SH       DEFINED                253510        0        0
KBR INC                        COM              48242W106       67      160 SH       DEFINED                   160        0        0
KELLOGG CO                     COM              487836108    14731   336007 SH       DEFINED                336007        0        0
KINROSS GOLD CORP              COMMON           496902206      114     4400 SH       DEFINED                  4400        0        0
KONINKLIJKE PHILIPS ELECTRS    NY REG SH NEW    500472303       13     6200 SH       DEFINED                  6200        0        0
KRAFT FOODS INC                CL A             50075N104     2543    82140 SH       DEFINED                 82140        0        0
LIBERTY MEDIA CORP             COMMON           530718105       44    13248 SH       DEFINED                 13248        0        0
LILLY ELI & CO                 COM              532457108      148     2500 SH       DEFINED                  2500        0        0
LINCOLN NATL CORP IND          COM              534187109      707    37535 SH       DEFINED                 37535        0        0
LOCKHEED MARTIN CORP           COM              539830109      772     9179 SH       DEFINED                  9179        0        0
LSI CORPORATION                COM              502161102        0       10 SH       DEFINED                    10        0        0
M & T BK CORP                  COM              55261F104  1532847 26700000 SH       DEFINED              26700000        0        0
MARSH & MCLENNAN COS INC       COM              571748102       57     2400 SH       DEFINED                  2400        0        0
MCDONALDS CORP                 COM              580135101    16863   274228 SH       DEFINED                274228        0        0
MEDCO HEALTH SOLUTIONS INC     COM              58405U102       44      548 SH       DEFINED                   548        0        0
MEDTRONIC INC                  COM              585055106       32     1000 SH       DEFINED                  1000        0        0
MEMC ELECTR MATLS INC          COM              552715104        8     1041 SH       DEFINED                  1041        0        0
MERCK & CO INC                 COM              589331107       32     1093 SH       DEFINED                  1093        0        0
MERRILL LYNCH & CO INC         COM              590188108       15     1350 SH       DEFINED                  1350        0        0
MICROCHIP TECHNOLOGY INC       COM              595017104     5341   273488 SH       DEFINED                273488        0        0
MICROSOFT CORP                 COM              594918104    10972   559484 SH       DEFINED                559484        0        0
MIZUHO FINL GROUP INC          SPONSORED ADR    60687Y109        0     5430 SH       DEFINED                  5430        0        0
MOHAWK INDS INC                COM              608190104        9       20 SH       DEFINED                    20        0        0
MOLEX INC                      COM              608554101        2      200 SH       DEFINED                   200        0        0
MONSANTO CO NEW                COM              61166W101     7806   109287 SH       DEFINED                109287        0        0
MORGAN STANLEY                 COM NEW          617446448        1     1593 SH       DEFINED                  1593        0        0
MORGAN STANLEY EMER MKTS FD    COM              61744G107       35     4300 SH       DEFINED                  4300        0        0
MOTOROLA INC                   COM              620076109       16     2294 SH       DEFINED                  2294        0        0
NATIONAL OILWELL VARCO INC     COM              637071101     8157   333755 SH       DEFINED                333755        0        0
NATURAL RESOURCE PARTNERS L    COM UNIT L P     63900P103       61     1500 SH       DEFINED                  1500        0        0
NEWMONT MINING CORP            COM              651639106      132     3496 SH       DEFINED                  3496        0        0
NIKE INC                       CL B             654106103    13045   255793 SH       DEFINED                255793        0        0
NOBLE CORPORATION              SHS              G65422100     6899   312325 SH       DEFINED                312325        0        0
NOKIA CORP                     SPONSORED ADR    654902204        1       88 SH       DEFINED                    88        0        0
NORFOLK SOUTHERN CORP          COM              655844108    11999   255021 SH       DEFINED                255021        0        0
NORTHERN TR CORP               COM              665859104    13490   260942 SH       DEFINED                260942        0        0
NOVEN PHARMACEUTICALS INC      COM              670009109       11     1033 SH       DEFINED                  1033        0        0
NTT DOCOMO INC                 SPONS ADR        62942M201        1     1000 SH       DEFINED                  1000        0        0
NUCOR CORP                     COMMON           670346901       18       30 SH       DEFINED                    30        0        0
ORACLE CORP                    COM              68389X105    13285   740766 SH       DEFINED                740766        0        0
ORASURE TECHNOLOGIES INC       COM              68554V108      188    35000 SH       DEFINED                 35000        0        0
PACCAR INC                     COM              693718108      114     9000 SH       DEFINED                  9000        0        0
PAYCHEX INC                    COM              704326107        5      200 SH       DEFINED                   200        0        0
PEPSICO INC                    COM              713448108    12421   227282 SH       DEFINED                227282        0        0
PETROLEO BRASILEIRO SA PETRO   SPONSORED ADR    71654V408      134     3395 SH       DEFINED                  3395        0        0
PFIZER INC                     COM              717081103    10732   597166 SH       DEFINED                597166        0        0
PHILIP MORRIS INTL INC         COM              718172109    19786   464063 SH       DEFINED                464063        0        0
PIONEER NAT RES CO             COM              723787107        3     7212 SH       DEFINED                  7212        0        0
PLAINS ALL AMERN PIPELINE L    UNIT LTD PARTN   726503105      173      184 SH       DEFINED                   184        0        0
POWERSHARES QQQ TRUST          UNIT SER 1       73935A104       24     5000 SH       DEFINED                  5000        0        0
PRAXAIR INC                    COM              74005P104      107     1170 SH       DEFINED                  1170        0        0
PRECISION CASTPARTS CORP       COM              740189105       31     1800 SH       DEFINED                  1800        0        0
PRINCIPAL FINANCIAL GROUP IN   COM              74251V102       45      500 SH       DEFINED                   500        0        0
PROCTER & GAMBLE CO            COM              742718109    23586   380345 SH       DEFINED                380345        0        0
PSYCHIATRIC SOLUTIONS INC      COM              74439H108       13     3123 SH       DEFINED                  3123        0        0
PUBLIC SVC ENTERPRISE GROUP    COM              744573106    10248   351307 SH       DEFINED                351307        0        0
QUALCOMM INC                   COM              747525103       48     1260 SH       DEFINED                  1260        0        0
QUANTA SVCS INC                COM              74762E102       29      647 SH       DEFINED                   647        0        0
QUEST DIAGNOSTICS INC          COMMON           748346100       23     1457 SH       DEFINED                  1457        0        0
ROCKWELL AUTOMATION INC        COM              773903109       19      585 SH       DEFINED                   585        0        0
ROYAL BK CDA MONTREAL QUE      COM              780087102       72      500 SH       DEFINED                   500        0        0
RYANAIR HLDGS PLC              SPONSORED ADR    783513104       56     1870 SH       DEFINED                  1870        0        0
SCHEIN HENRY INC               COM              806407102      142     3935 SH       DEFINED                  3935        0        0
SCHERING PLOUGH CORP           COM              806605101     6597   384989 SH       DEFINED                384989        0        0
SCHLUMBERGER LTD               COM              806857108      230     8618 SH       DEFINED                  8618        0        0
SCO GROUP INC                  COM USD0.001     78403A106        0     1670 SH       DEFINED                  1670        0        0
SEASPAN CORP                   SHS              Y75638109       84     1028 SH       DEFINED                  1028        0        0
SELECT SECTOR SPDR TR          SBI INT-FINL     81369Y605    17736  1417099 SH       DEFINED               1417099        0        0
SHAW GROUP INC                 COM              820280105        9     9500 SH       DEFINED                  9500        0        0
SIGMA DESIGNS INC              COM              826565103       12     1250 SH       DEFINED                  1250        0        0
SKILLSOFT PLC                  SPONSORED ADR    830928107        5      825 SH       DEFINED                   825        0        0
SMURFIT-STONE CONTAINER CORP   COM              832727101        1     5989 SH       DEFINED                  5989        0        0
SOUTHERN CO                    COM              842587107    15702   423562 SH       DEFINED                423562        0        0
SPDR SERIES TRUST              SPDR KBW BK ETF  78464A797      154     7000 SH       DEFINED                  7000        0        0
SPDR TR                        UNIT SER 1       78462F103     8648    96975 SH       DEFINED                 96975        0        0
SPX CORP                       COM              784635104       19     1323 SH       DEFINED                  1323        0        0
ST JUDE MED INC                COM              790849103       14      500 SH       DEFINED                   500        0        0
STATE STR CORP                 COM              857477103    12900   327989 SH       DEFINED                327989        0        0
STERICYCLE INC                 COM              858912108       50      900 SH       DEFINED                   900        0        0
STRYKER CORP                   COM              863667101     8191   205028 SH       DEFINED                205028        0        0
SUN LIFE FINL INC              COM              866796105        6      256 SH       DEFINED                   256        0        0
SUNCOR ENERGY INC              COM              867229106      117      500 SH       DEFINED                   500        0        0
SWISS HELVETIA FD INC          COM              870875101       67     5500 SH       DEFINED                  5500        0        0
SYMANTEC CORP                  COM              871503108       26     2000 SH       DEFINED                  2000        0        0
TARGET CORP                    COM              87612E106        3     6000 SH       DEFINED                  6000        0        0
TC PIPELINES LP                CALL             87233Q908       23      100 SH       DEFINED                   100        0        0
TEREX CORP NEW                 COM              880779103    13116   757297 SH       DEFINED                757297        0        0
TEVA PHARMACEUTICAL INDS LTD   ADR              881624209       22     1000 SH       DEFINED                  1000        0        0
THERMO FISHER SCIENTIFIC INC   COM              883556102     9831   288190 SH       DEFINED                288190        0        0
THOMAS & BETTS CORP            COM              884315102       24      800 SH       DEFINED                   800        0        0
TIM HORTONS INC                COM              88706M103       14     1000 SH       DEFINED                  1000        0        0
TIME WARNER INC                COM              887317105        9      794 SH       DEFINED                   794        0        0
TJX COS INC NEW                COM              872540109     4762   231508 SH       DEFINED                231508        0        0
TOLL BROTHERS INC              COM              889478103      280    13600 SH       DEFINED                 13600        0        0
TOTAL S A                      SPONSORED ADR    89151E109       20      364 SH       DEFINED                   364        0        0
TRANSOCEAN INC                 COMMON           G90078109       90      500 SH       DEFINED                   500        0        0
UCBH HOLDINGS INC              COM              90262T308        1     1350 SH       DEFINED                  1350        0        0
UNITED PARCEL SERVICE INC      CL B             911312106       69      170 SH       DEFINED                   170        0        0
UNITED STATES STL CORP NEW     COM              912909108       12      320 SH       DEFINED                   320        0        0
UNITED TECHNOLOGIES CORP       COM              913017109     2209    42011 SH       DEFINED                 42011        0        0
UNITEDHEALTH GROUP INC         COM              91324P102      178     6589 SH       DEFINED                  6589        0        0
US BANCORP DEL                 COM NEW          902973304     6433   254901 SH       DEFINED                254901        0        0
VALERO ENERGY CORP NEW         COM              91913Y100    10995   508084 SH       DEFINED                508084        0        0
VERIZON COMMUNICATIONS INC     COM              92343V104    11429   337133 SH       DEFINED                337133        0        0
VODAFONE GROUP PLC             SPON ADR         92857W100     3108     2800 SH       DEFINED                  2800        0        0
WAL MART STORES INC            COM              931142103     8809   306372 SH       DEFINED                306372        0        0
WALGREEN CO                    COM              931422109        4     2880 SH       DEFINED                  2880        0        0
WASHINGTON POST CO             CL B             939640108       20      145 SH       DEFINED                   145        0        0
WASTE MGMT INC DEL             COM              94106L109      119       50 SH       DEFINED                    50        0        0
WELLS FARGO & CO NEW           COM              949746101     8108   277776 SH       DEFINED                277776        0        0
WYETH                          COM              983024100      343    10541 SH       DEFINED                 10541        0        0
XTO ENERGY INC                 COM              98385X106      564    12306 SH       DEFINED                 12306        0        0
YUM BRANDS INC                 COM              988498101      440    13972 SH       DEFINED                 13972        0        0
ZIMMER HLDGS INC               COM              98956P102      131     6315 SH       DEFINED                  6315        0        0