-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Mjz/NKKOLqH6nbI76gZSTcMvzk71C2Derh5B2RFrZXwbo7VCaWpA9g16vkXWo5ho
 iskukMSAxZDvJ8VjtW/8eQ==

<SEC-DOCUMENT>0001010873-04-000007.txt : 20041020
<SEC-HEADER>0001010873-04-000007.hdr.sgml : 20041020
<ACCEPTANCE-DATETIME>20041020170021
ACCESSION NUMBER:		0001010873-04-000007
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040930
FILED AS OF DATE:		20041020
DATE AS OF CHANGE:		20041020
EFFECTIVENESS DATE:		20041020

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN STREET ADVISORS INC /NC
		CENTRAL INDEX KEY:			0001010873
		IRS NUMBER:				561749652
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-05428
		FILM NUMBER:		041087938

	BUSINESS ADDRESS:	
		STREET 1:		1450 RALEIGH RD
		STREET 2:		SUITE 300
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27517
		BUSINESS PHONE:		9194892600

	MAIL ADDRESS:	
		STREET 1:		1450 RALEIGH RD
		STREET 2:		STE 300
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27517
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>d13f-93004.txt
<TEXT>
<TABLE>
                                                                  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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S>                            <C>              <C>       <C>      <C>      <C> <C>  <C>     <C>          <C>      <C>      <C>
ABBOTT LABORATORIES            COMMON           002824100     4209 99361.00 SH       SOLE                 96661.00           2700.00
                                                                32   750.00 SH       DEFINED                750.00
ALCOA INC                      COMMON           013817101     3564 106116.00SH       SOLE                104066.00           2050.00
                                                                30   900.00 SH       DEFINED                900.00
ALTRIA GROUP INC               COMMON           02209s103      328  6976.00 SH       SOLE                  6652.00            324.00
AMERICAN EXPRESS               COMMON           025816109      747 14516.00 SH       SOLE                 13016.00           1500.00
AMERICAN INTL GROUP            COMMON           026874107     3314 48738.00 SH       SOLE                 45213.00           3525.00
                                                                68  1000.00 SH       DEFINED               1000.00
AMGEN INC COM                  COMMON           031162100      288  5078.00 SH       SOLE                  4168.00            910.00
AMSOUTH BANCORPORATION         COMMON           032165102      346 14184.00 SH       SOLE                 14184.00
ANDRX GROUP                    COMMON           034553107     9070 405625.00SH       SOLE                402025.00           3600.00
                                                               123  5500.00 SH       DEFINED               2500.00           3000.00
ANHEUSER BUSCH COS INC         COMMON           035229103      423  8465.00 SH       SOLE                  8065.00            400.00
                                                               352  7040.00 SH       DEFINED               7040.00
ANTHEM INC                     COMMON           03674b104      218  2500.00 SH       SOLE                  2200.00            300.00
APPLIED MATERIALS              COMMON           038222105     2775 168300.00SH       SOLE                162650.00           5650.00
                                                                19  1150.00 SH       DEFINED               1150.00
BANK OF AMERICA CORP           COMMON           060505104     7694 177564.00SH       SOLE                168724.00           8840.00
                                                               104  2400.00 SH       DEFINED               2400.00
BAXTER INTERNATIONAL INC       COMMON           071813109     1887 58681.00 SH       SOLE                 54782.00           3899.00
                                                                26   800.00 SH       DEFINED                800.00
BB & T                         COMMON           054937107      942 23731.00 SH       SOLE                 23731.00
                                                               110  2776.00 SH       DEFINED               2776.00
BELLSOUTH CORP                 COMMON           079860102      586 21614.00 SH       SOLE                 20614.00           1000.00
                                                                43  1600.00 SH       DEFINED               1600.00
BERKSHIRE HATHAWAY-CL B        COMMON           084670207      336   117.00 SH       SOLE                   105.00             12.00
BEST BUY COMPANY INC           COMMON           086516101      554 10220.00 SH       SOLE                 10220.00
BIOMET                         COMMON           090613100      416  8875.00 SH       SOLE                  8325.00            550.00
BJ SERVICES                    COMMON           055482103      283  5395.00 SH       SOLE                  5195.00            200.00
BNP RESIDENTIAL PPTYS INC      COMMON           05564t103      181 13200.00 SH       SOLE                 13200.00
BONE CAPITAL INTL INC          COMMON           098072101      931 38300.00 SH       SOLE                 38300.00
BP PLC                         COMMON           055622104      907 15770.52 SH       SOLE                 15370.52            400.00
BRISTOL MYERS SQUIBB CO        COMMON           110122108      874 36944.14 SH       SOLE                 34484.00           2460.14
                                                                 4   150.00 SH       DEFINED                150.00
BRUNSWICK CORP                 COMMON           117043109      220  4816.00 SH       SOLE                  4816.00
                                                               220  4816.00 SH       DEFINED               4816.00
BURLINGTON RESOURCES           COMMON           122014103     3091 75750.00 SH       SOLE                 70850.00           4900.00
                                                                47  1150.00 SH       DEFINED               1150.00
CAPITAL ONE FINANCIAL          COMMON           14040h105      903 12216.00 SH       SOLE                 12216.00
CHEVRONTEXACO CORP             COMMON           166764100      639 11920.00 SH       SOLE                  9548.00           2372.00
CISCO SYSTEMS INC              COMMON           17275r102      690 38132.00 SH       SOLE                 25812.00          12320.00
CITIGROUP INC.                 COMMON           172967101     7116 161292.20SH       SOLE                156336.99           4955.22
                                                                60  1350.00 SH       DEFINED               1350.00
COCA-COLA CO                   COMMON           191216100     1001 25002.00 SH       SOLE                 24102.00            900.00
COMMERCE BANCSHARES INC        COMMON           200525103      366  7608.00 SH       SOLE                  7608.00
COMMERCIAL NET LEASE COM       COMMON           202218103      479 26300.00 SH       SOLE                 26300.00
CONOCOPHILLIPS                 COMMON           20825c104      808  9758.25 SH       SOLE                  8896.00            862.25
CORIXA CORP                    COMMON           21887f100      921 221500.00SH       SOLE                221500.00
                                                                21  5000.00 SH       DEFINED                                 5000.00
COSTCO WHOLESALE               COMMON           22160k105     3752 90275.00 SH       SOLE                 88625.00           1650.00
                                                                 6   147.00 SH       DEFINED                100.00             47.00
CRAY INC                       COMMON           225223106      549 155500.00SH       SOLE                155500.00
CREE RESEARCH                  COMMON           225447101     1514 49600.00 SH       SOLE                 49600.00
                                                                57  1858.00 SH       DEFINED                500.00           1358.00
CRUCELL NV                     COMMON           228769105      162 20000.00 SH       SOLE                 20000.00
CVS CORPORATION                COMMON           126650100     3452 81925.00 SH       SOLE                 80245.00           1680.00
                                                                34   800.00 SH       DEFINED                800.00
DEERE & CO                     COMMON           244199105     3198 49550.00 SH       SOLE                 48350.00           1200.00
                                                                32   500.00 SH       DEFINED                500.00
DELHAIZE 'LE LION'             COMMON           29759w101      475  7512.00 SH       SOLE                  7512.00
                                                               169  2672.00 SH       DEFINED               2672.00
DELL INC                       COMMON           24702R101      713 20019.00 SH       SOLE                 18209.00           1810.00
                                                                 2    50.00 SH       DEFINED                 50.00
DENDREON CORP                  COMMON           24823q107      871 103600.00SH       SOLE                103600.00
                                                                42  5000.00 SH       DEFINED                                 5000.00
DEVELOPERS DIVERS REALTY CRP   COMMON           251591103      309  7905.00 SH       SOLE                  7905.00
DEVON ENERGY CORPORATION       COMMON           25179m103     5372 75655.00 SH       SOLE                 75455.00            200.00
                                                                78  1100.00 SH       DEFINED               1100.00
DIAMONDS TRUST SERIES I        COMMON           252787106      474  4700.00 SH       SOLE                  4700.00
DISNEY (WALT) CO               COMMON           254687106      696 30885.82 SH       SOLE                 27125.00           3760.82
DUKE ENERGY                    COMMON           264399106     4357 190365.00SH       SOLE                187809.00           2556.00
                                                                57  2500.00 SH       DEFINED                500.00           2000.00
DUKE REALTY CORP               COMMON           264411505      584 17599.00 SH       SOLE                 17599.00
DUPONT                         COMMON           263534109      619 14474.00 SH       SOLE                 13642.00            832.00
ELAN CORP PLC ADR              COMMON           284131208     2441 104300.00SH       SOLE                104300.00
EMERSON ELECTRIC               COMMON           291011104      394  6367.00 SH       SOLE                  5967.00            400.00
ENSCO INTERNATIONAL INC        COMMON           26874Q100      304  9300.00 SH       SOLE                  9300.00
EOG RESOURCES INC              COMMON           26875p101     2069 31420.00 SH       SOLE                 31320.00            100.00
                                                                 3    50.00 SH       DEFINED                 50.00
EXXONMOBIL CORPORATION         COMMON           30231G102     7244 149886.00SH       SOLE                147606.00           2280.00
                                                                77  1600.00 SH       DEFINED               1600.00
FAMILY DLR STORES INC          COMMON           307000109      521 19216.00 SH       SOLE                 19216.00
FIRST CITIZENS BANCSHARES CL A COMMON           31946m103      638  5408.00 SH       SOLE                  5408.00
FIRST HORIZON NATIONAL CORP    COMMON           320517105      540 12450.00 SH       SOLE                 12450.00
FLEXTRONICS INTL LTD           COMMON           y2573f102     5561 419690.00SH       SOLE                415290.00           4400.00
                                                               109  8250.00 SH       DEFINED               8250.00
FORTUNE BRANDS                 COMMON           349631101      233  3148.00 SH       SOLE                  2998.00            150.00
GANNETT INC                    COMMON           364730101      385  4591.00 SH       SOLE                  4391.00            200.00
GAP INC DEL COM                COMMON           364760108     2064 110365.00SH       SOLE                107915.00           2450.00
                                                                31  1650.00 SH       DEFINED               1650.00
GENERAL DYNAMICS               COMMON           369550108      275  2697.00 SH       SOLE                  2697.00
GENERAL ELECTRIC               COMMON           369604103    11995 357213.34SH       SOLE                343608.00          13605.34
                                                                40  1200.00 SH       DEFINED               1200.00
GILEAD                         COMMON           375558103      897 24000.00 SH       SOLE                 24000.00
GILLETTE CO                    COMMON           375766102      340  8155.00 SH       SOLE                  7555.00            600.00
GOLDMAN SACHS                  COMMON           38141g104      249  2675.00 SH       SOLE                  2675.00
HERSHEY FOODS                  COMMON           427866108      374  8000.00 SH       SOLE                  8000.00
HEWLETT-PACKARD CO             COMMON           428236103     1713 91347.00 SH       SOLE                 89947.00           1400.00
                                                                42  2250.00 SH       DEFINED               2250.00
HIGHWOOD PROPERTIES INC.       COMMON           431284108      208  8452.41 SH       SOLE                  5700.00           2752.41
HOME DEPOT                     COMMON           437076102      259  6600.61 SH       SOLE                  3151.00           3449.61
HONEYWELL INTERNATIONAL INC    COMMON           438516106     3776 105311.00SH       SOLE                102161.00           3150.00
                                                                 5   150.00 SH       DEFINED                150.00
IBM                            COMMON           459200101     2172 25335.00 SH       SOLE                 23163.00           2172.00
                                                                30   350.00 SH       DEFINED                350.00
ICORIA INC                     COMMON           451045108       19 39603.00 SH       SOLE                 39603.00
ILLINOIS TOOL WORKS            COMMON           452308109      338  3627.00 SH       SOLE                  3427.00            200.00
IMCLONE SYSTEMS                COMMON           45245w109     1358 25700.00 SH       SOLE                 25700.00
INGERSOLL-RAND                 COMMON           g4776g101     2637 38795.00 SH       SOLE                 37395.00           1400.00
                                                                 3    50.00 SH       DEFINED                 50.00
INGLES MARKETS INC CL A        COMMON           457030104      140 11603.00 SH       SOLE                 11603.00
INTEL CORP                     COMMON           458140100     3240 161495.08SH       SOLE                154413.00           7082.08
                                                                43  2150.00 SH       DEFINED               2150.00
INTERPUBLIC GROUP OF COS       COMMON           460690100      678 64000.00 SH       SOLE                 57400.00           6600.00
ISHARES INC MSCI JAPAN INDEX F COMMON           464286848     1706 175850.00SH       SOLE                175850.00
                                                                39  4000.00 SH       DEFINED                                 4000.00
ISHARES TR DOW JONES SEL DIVID COMMON           464287168     2629 45800.00 SH       SOLE                 45800.00
ISHARES TRUST MSCI EMERGING MA COMMON           464287234      207  1200.00 SH       SOLE                  1200.00
ISHARES TRUST RUSSELL 1000 GRO COMMON           464287614      234  5179.00 SH       SOLE                   211.00           4968.00
ISHARES TRUST RUSSELL 1000 VAL COMMON           464287598      252  4154.00 SH       SOLE                   361.00           3793.00
IVAX CORP                      COMMON           465823102     1436 74987.00 SH       SOLE                 73637.00           1350.00
                                                                 5   250.00 SH       DEFINED                250.00
JEFFERSON-PILOT                COMMON           475070108     5766 116117.00SH       SOLE                115617.00            500.00
                                                              1576 31735.00 SH       DEFINED              31735.00
JOHNSON & JOHNSON              COMMON           478160104     1740 30882.23 SH       SOLE                 28760.00           2122.23
                                                                56  1000.00 SH       DEFINED               1000.00
JP MORGAN CHASE & CO           COMMON           46625h100     5944 149610.00SH       SOLE                145996.00           3614.00
                                                                57  1425.00 SH       DEFINED               1425.00
KERR-MCGEE                     COMMON           492386107     2767 48325.00 SH       SOLE                 46875.00           1450.00
KERYX BIOPHARMACEUTICALS       COMMON           492515101      991 88550.00 SH       SOLE                 88550.00
                                                                28  2500.00 SH       DEFINED                                 2500.00
KIMBERLY CLARK CORP            COMMON           494368103      293  4533.00 SH       SOLE                  4433.00            100.00
KING PHARMACEUTICALS INC       COMMON           495582108     2348 196680.00SH       SOLE                196680.00
                                                                60  5000.00 SH       DEFINED                                 5000.00
LAW ENFORCEMENT ASSOCS CORP    COMMON           519485106       46 23000.00 SH       SOLE                 23000.00
LIBERTY MEDIA CORP-A           COMMON           530718105      186 21361.00 SH       SOLE                 21361.00
LIBERTY PROPERTY TR SH BEN INT COMMON           531172104      502 12600.00 SH       SOLE                 12600.00
LIGAND PHARM                   COMMON           53220K207     2837 283100.00SH       SOLE                283100.00
                                                                45  4500.00 SH       DEFINED                                 4500.00
LOCKHEED MARTIN CORP           COMMON           539830109     1008 18075.00 SH       SOLE                 18075.00
LOWE'S COS                     COMMON           548661107      807 14850.00 SH       SOLE                 14350.00            500.00
MANULIFE FINANCIAL             COMMON           56501r106      231  5278.00 SH       SOLE                  5278.00
MBNA CORP COM                  COMMON           55262L100     4838 191995.00SH       SOLE                189795.00           2200.00
                                                                28  1100.00 SH       DEFINED               1100.00
MEADWESTVACO CORP              COMMON           583334107      287  9000.00 SH       SOLE                  9000.00
MEDAREX INC                    COMMON           583916101     2362 320100.00SH       SOLE                320100.00
MEDIMMUNE INC                  COMMON           584699102     1558 65725.00 SH       SOLE                 65725.00
MEDTRONIC, INC                 COMMON           585055106      261  5035.00 SH       SOLE                  3735.00           1300.00
MERCK & CO                     COMMON           589331107     1028 31150.00 SH       SOLE                 29710.00           1440.00
MERRILL LYNCH & CO INC         COMMON           590188108     4444 89376.00 SH       SOLE                 85766.00           3610.00
                                                                60  1200.00 SH       DEFINED               1200.00
MICROSOFT CORP                 COMMON           594918104     6552 236948.00SH       SOLE                226534.00          10414.00
                                                                36  1300.00 SH       DEFINED               1300.00
MILLENNIUM PHARMACEUTICALS     COMMON           599902103     3357 244872.00SH       SOLE                244472.00            400.00
                                                                28  2050.00 SH       DEFINED               2050.00
MORGAN ST DEAN WITTER, DISC &  COMMON           617446448     3534 71687.00 SH       SOLE                 71187.00            500.00
                                                                30   600.00 SH       DEFINED                600.00
NABORS INDUSTRIES LTD          COMMON           g6359f103     2300 48585.00 SH       SOLE                 47935.00            650.00
                                                                50  1050.00 SH       DEFINED               1050.00
NASDAQ-100 SHARES              COMMON           631100104     4979 141656.00SH       SOLE                141006.00            650.00
                                                                28   800.00 SH       DEFINED                800.00
NATIONAL CITY CORP             COMMON           635405103     1954 50607.85 SH       SOLE                 50607.85
NATIONAL COMMERCE FINANCIAL CO COMMON           63545p104      471 13776.00 SH       SOLE                 11962.00           1814.00
                                                                41  1209.00 SH       DEFINED               1209.00
NEKTAR THERAPEUTICS            COMMON           640268108     1442 99600.00 SH       SOLE                 99600.00
NEWELL RUBBERMAID INC          COMMON           651229106      669 33400.00 SH       SOLE                 29000.00           4400.00
NEXTEL COMMUNICATIONS 'A'      COMMON           65332v103     4932 206890.00SH       SOLE                203440.00           3450.00
                                                                 5   200.00 SH       DEFINED                200.00
NOBLE CORP                     COMMON           g65422100      681 15150.00 SH       SOLE                 15150.00
NORTHROP GRUMMAN CORP          COMMON           666807102     4536 85064.00 SH       SOLE                 83414.00           1650.00
                                                                21   400.00 SH       DEFINED                400.00
ORACLE SYSTEMS CORP            COMMON           68389X105      139 12365.00 SH       SOLE                 11017.00           1348.00
OSI PHARMACEUTICALS INC        COMMON           671040103     2317 37700.00 SH       SOLE                 37700.00
OSTEOTECH                      COMMON           688582105      236 60000.00 SH       SOLE                 60000.00
                                                                32  8000.00 SH       DEFINED                                 8000.00
OSTEOTECH (PROSPECTUS REQ)     COMMON           688582105      134 33900.00 SH       SOLE                 33900.00
PENWEST PHARMACEUTICALS CO     COMMON           709754105      286 25300.00 SH       SOLE                 25300.00
                                                                 7   600.00 SH       DEFINED                                  600.00
PEPSICO INC                    COMMON           713448108     1044 21467.08 SH       SOLE                 19697.00           1770.08
PFIZER INC                     COMMON           717081103     1623 53055.31 SH       SOLE                 48125.00           4930.31
                                                                66  2173.00 SH       DEFINED                 50.00           2123.00
PHELPS DODGE CORP              COMMON           717265102     4643 50450.00 SH       SOLE                 50300.00            150.00
                                                                32   350.00 SH       DEFINED                350.00
POZEN INC                      COMMON           73941u102     2753 315000.00SH       SOLE                314000.00           1000.00
PRECISION CASTPARTS CORP       COMMON           740189105      300  5000.00 SH       SOLE                  5000.00
PROCTER & GAMBLE CO            COMMON           742718109     1600 29557.13 SH       SOLE                 28540.00           1017.13
PROGRESS ENERGY INC            COMMON           743263105      696 16436.96 SH       SOLE                 11797.96           4639.00
REPLIGEN CORP                  COMMON           759916109       38 20000.00 SH       SOLE                 20000.00
                                                                19 10000.00 SH       DEFINED                                10000.00
ROYAL BANK OF CANADA           COMMON           780087102      395  8364.00 SH       SOLE                  8364.00
ROYAL DUTCH PETE CO            COMMON           780257804      369  7150.00 SH       SOLE                  7150.00
RR DONNELLEY & SONS CO         COMMON           257867101      715 22833.00 SH       SOLE                 22833.00
SALIX PHARMACEUTICALS LTD      COMMON           795435106      926 43035.00 SH       SOLE                 43035.00
SAN JUAN BASIN ROYALTY         COMMON           798241105      366 12000.00 SH       SOLE                 12000.00
SBC COMMUNICATIONS             COMMON           78387G103      202  7782.12 SH       SOLE                  5673.00           2109.12
SCHLUMBERGER LTD               COMMON           806857108      269  3990.00 SH       SOLE                  3890.00            100.00
SCICLONE PHARMACEUTICALS INC   COMMON           80862k104      401 112500.00SH       SOLE                112500.00
                                                                18  5000.00 SH       DEFINED                                 5000.00
SELECT SECTOR SPDR AMEX UTILIT COMMON           81369y886     2075 82850.00 SH       SOLE                 82200.00            650.00
                                                                29  1150.00 SH       DEFINED               1150.00
SHIRE PHARMACEUTICALS GRP      COMMON           g81083100      769 81320.00 SH       SOLE                 81320.00
                                                                57  6000.00 SH       DEFINED                                 6000.00
SHIRE PHARMACEUTICALS-ADR      COMMON           82481r106     4244 148150.00SH       SOLE                147550.00            600.00
                                                                87  3050.00 SH       DEFINED               3050.00
SMITHFIELD FOODS               COMMON           832248108    13810 552390.00SH       SOLE                552390.00
SOUTHERN CO                    COMMON           842587107      623 20789.00 SH       SOLE                 19789.00           1000.00
STANDARD & POOR'S DEP RCPTS    COMMON           78462f103     7809 69874.00 SH       SOLE                 69205.00            669.00
                                                                56   500.00 SH       DEFINED                500.00
TANGER FACTORY OUTLET CENTER   COMMON           875465106      233  5200.00 SH       SOLE                  5200.00
TARGET CORP                    COMMON           87612e106      350  7734.04 SH       SOLE                  6525.00           1209.04
TELIK INC                      COMMON           87959m109     2366 106100.00SH       SOLE                106100.00
TELKONET INC                   COMMON           879604106       31 10000.00 SH       SOLE                 10000.00
TEXAS INSTRUMENTS              COMMON           882508104      202  9477.00 SH       SOLE                  8777.00            700.00
THE LITTLE BANK, INC           COMMON           53700p106      184 14469.00 SH       SOLE                 14469.00
                                                                37  2893.00 SH       DEFINED                                 2893.00
TIME WARNER INC                COMMON           887317105     4165 258037.00SH       SOLE                256005.00           2032.00
TYCO INTL                      COMMON           902124106     4133 134791.00SH       SOLE                134041.00            750.00
                                                               103  3350.00 SH       DEFINED               3350.00
UNITED HEALTHCARE CORP         COMMON           91324p102      319  4322.00 SH       SOLE                  2822.00           1500.00
UNITED PARCEL SERVICE - CL B   COMMON           911312106     1160 15275.00 SH       SOLE                 15275.00
UNITED TECHNOLOGIES CORP       COMMON           913017109      402  4307.00 SH       SOLE                  4307.00
VALEANT PHARMACEUTICALS        COMMON           91911x104     7061 292735.00SH       SOLE                292235.00            500.00
                                                               174  7200.00 SH       DEFINED               2200.00           5000.00
VASOMEDICAL INC                COMMON           922321104       16 15000.00 SH       SOLE                 15000.00
                                                                 3  3000.00 SH       DEFINED               3000.00
VERIZON COMMUNICATIONS         COMMON           92343v104     1809 45935.00 SH       SOLE                 44991.00            944.00
                                                                33   843.00 SH       DEFINED                843.00
WACHOVIA CORP NEW              COMMON           929903102     3916 83399.00 SH       SOLE                 79499.00           3900.00
                                                               200  4264.00 SH       DEFINED               4264.00
WAL-MART STORES                COMMON           931142103     3931 73887.00 SH       SOLE                 69894.00           3993.00
                                                                43   800.00 SH       DEFINED                800.00
WALGREEN CO COM                COMMON           931422109      313  8747.00 SH       SOLE                  8165.00            582.00
WASHINGTON MUTUAL INC          COMMON           939322103      405 10352.11 SH       SOLE                  8548.00           1804.11
WATSON PHARMACEUTICALS         COMMON           942683103     6735 228600.00SH       SOLE                225950.00           2650.00
                                                                85  2900.00 SH       DEFINED               2700.00            200.00
WHOLE FOODS MARKET INC         COMMON           966837106      683  7960.00 SH       SOLE                  7960.00
WYETH                          COMMON           983024100      770 20599.00 SH       SOLE                 20599.00
XCELPLUS INTERNATIONAL INC     COMMON           98389v106        3 30000.00 SH       SOLE                 30000.00
SELECTED AMERICAN SHARES                        816221105    11638 339783.513SH      SOLE               339433.465           350.048
                                                                15  424.357 SH       DEFINED               271.228           153.129
ACM GOVERNMENT INCOME FUND     MF               000912105      210 25800.000SH       SOLE                25800.000
AMERICAN EUROPACIFIC GRTH-A    MF               298706102      247 7766.446 SH       SOLE                 7766.446
AMERICAN FDS-INVEST CO OF AM   MF               461308108      316 10879.807SH       SOLE                10879.807
ARIEL APPRECIATION FUND CL A   MF               040337206     2678 60028.857SH       SOLE                 4497.066         55531.791
                                                                 2   43.863 SH       DEFINED                                  43.863
BRANDYWINE FD INC COM          MF               10532D107      228 9410.578 SH       SOLE                 9410.578
CCMI EQUITY FUND               MF               12501k302      234 16112.216SH       SOLE                16112.216
CREF STOCK                     MF                             1329    1.000 SH       SOLE                                      1.000
DODGE & COX BALANCED FUNF      MF               256201104      292 3879.648 SH       SOLE                 3879.648
DODGE & COX INTERNATIONAL STOC MF               256206103     2338 87313.472SH       SOLE                84904.073          2409.399
EXCELSIOR FUNDS INTERMEDIATE T MF               300722832      380 52054.908SH       SOLE                11708.935         40345.973
FIDELITY CONTRAFUND            MF               316071109     4189 80452.643SH       SOLE                 3509.285         76943.358
FIDELITY DISCIPLINED EQUITY    MF               316066208      259 11201.469SH       SOLE                                  11201.469
FIDELITY DIVERSIFIED INTL FD   MF               315910802     1070 42237.841SH       SOLE                10059.513         32178.328
FIDELITY EQUITY INCOME II      MF               316145101      302 13346.215SH       SOLE                 1156.507         12189.708
FIDELITY LOW PRICED STOCK FUND MF               316345305      575 16068.042SH       SOLE                                  16068.042
FIDELITY MONEY MARKET TRUST RE MF               316191600       15 14614.710SH       SOLE                                  14614.710
FIDELITY PURITAN FUND          MF               316345107      275 15173.618SH       SOLE                 1727.430         13446.188
FIDELITY SMALL CAP INDEPENDENC MF               315912303      312 17147.349SH       SOLE                 2045.131         15102.218
FIDELITY SMALL CAP STOCK FD    MF               315912501     2336 139481.403SH      SOLE                 8501.763        130979.640
FIDELITY US GOVT RESERVES      MF               316462100       23 22998.200SH       SOLE                                  22998.200
FIDELITY VALUE FUND            MF               316464106     2847 42152.260SH       SOLE                 2803.874         39348.386
GOLDMAN SACHS CORE US EQTY-A   MF               38141w620      213 8049.243 SH       SOLE                 8049.243
MARSICO FOCUS FUND             MF               573012101     2242 151154.672SH      SOLE                21873.970        129280.702
                                                                 4  248.331 SH       DEFINED                                 248.331
MASTERS SELECT EQUITY FUND     MF               576417109      778 56501.552SH       SOLE                56501.552
MASTERS SELECT INTERNATIONAL F MF               576417208      269 18127.043SH       SOLE                18127.043
NEW PERSPECTIVE FUND INC CL A  MF               648018109     1689 67816.674SH       SOLE                67816.674
ROYCE FUND PREMIER SERIES      MF               780905600      360 24611.198SH       SOLE                24611.198
ROYCE FUND TOTAL RETURN FUND   MF               780905881      675 59645.553SH       SOLE                59645.553
                                                                 2  180.055 SH       DEFINED                                 180.055
ROYCE PREMIER FUND-INV CLASS   MF               780905600     1906 130394.859SH      SOLE                 7475.479        122919.380
SPARTAN INTERNATIONAL INDEX FU MF               315911602     1427 50378.410SH       SOLE                                  50378.410
T ROWE PRICE MID-CAP GROWTH FD MF               779556109      454 10032.606SH       SOLE                                  10032.606
TEMPLETON FUNDS INC FOREIGN FU MF               880196209      287 26007.571SH       SOLE                                  26007.571
TIAA REAL ESTATE               MF                              390    1.000 SH       SOLE                                      1.000
VANGUARD HIGH YIELD CORP FUND  MF               922031208       76 11923.688SH       SOLE                11923.688
VANGUARD INDEX TR 500 PORTFOLI MF               922908108      503 4884.949 SH       SOLE                 4884.949
VANGUARD MORGAN GROWTH FUND#26 MF               921928107      263 17828.381SH       SOLE                17828.381
VANGUARD SHORT TERM FED-INV    MF               922031604      239 22768.404SH       SOLE                22768.404
VANGUARD TOTAL STOCK MARKET PO MF               922908306      227 8651.368 SH       SOLE                 8651.368
WASHINGTON MUT INVS FUND INC C MF               939330403     4401 150371.657SH      SOLE                 2636.625        147735.032
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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