<SEQUENCE>1
<FILENAME>wst09302010.txt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20519
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 09/30/2010
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: Wilbanks, Smith & Thomas Asset Management, LLC
Address: 150 West Main Street
Suite 1700
Norfolk, VA 23510
Form 13F File Number: 28-5226
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: Wayne Wilbanks
Title: President
Phone: (757) 623-3676
Signature, Place, and Date of Signing:
________________ _Norfolk, VA_ 09/30/2010
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X]13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 366
Form 13F Information Table Value Total: $ 558758
(thousands)
<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>
American Tax Ex of VA CL 2 MF 02630C867 599 35419.583SH SOLE 8837.794 26581.789
Evergreen Str Muni Bnd Cl A MF 94985D772 158 18124.750SH SOLE 18124.750
JPM Tax Aware Real Return MF 4812A2546 206 20639.835SH SOLE 20639.835
JPMorgan Short Int Muni Bnd MF 4812C1371 646 60826.971SH SOLE 60826.971
Oppen Roch Natl Muni Cl A MF 683940308 78 10670.254SH SOLE 10670.254
PShares VRDO TF Weekly Port MF 73936T433 1072 42905.000SH SOLE 42905.000
RidgeWorth IG Tax Ex Cl I MF 76628T843 246 19667.787SH SOLE 19667.787
SPDR Barclays ST Muni Bnd MF 78464A425 870 35785.000SH SOLE 3585.000 32200.000
iShares Nat AMT Free Bnd Fnd MF 464288414 735 6880.000 SH SOLE 115.000 6765.000
Actuant Corp (11/20/10) CONV 00508XAB0 20 17000 PRN SOLE 17000
Allegheny Tech CONV 01741RAD4 18 13000 PRN SOLE 13000
Allergan Inc (04/05/11) CONV 018490AL6 18 16000 PRN SOLE 16000
Amgen Inc CONV 031162AQ3 17 17000 PRN SOLE 17000
Anixter Intl Inc CONV 035290AJ4 28 27000 PRN SOLE 27000
Arris Group Inc (11/15/13) CONV 04269QAC4 10 10000 PRN SOLE 10000
Barclays Bank PLC CONV 06740JBJ8 49 50000 PRN SOLE 50000
Barclays Bank PLC CONV 06740JC81 42 50337 PRN SOLE 50337
Barclays Bank PLC CONV 06740JGL8 50 50000 PRN SOLE 50000
Barclays Bank PLC CONV 06740JJL5 48 50000 PRN SOLE 50000
Barclays Bank PLC CONV 06740JNJ5 50 50000 PRN SOLE 50000
Best Buy (08/09/10) CONV 086516AF8 20 18000 PRN SOLE 18000
CACI Internationl Inc CONV 127190AD8 15 14000 PRN SOLE 14000
Carnival Corp (08/23/10) CONV 143658AN2 16 16000 PRN SOLE 16000
Chesapeake Energy Corp (05/15/ CONV 165167BZ9 12 14000 PRN SOLE 14000
Chesapeake Energy Corp (11/15/ CONV 165167BW6 14 15000 PRN SOLE 15000
DST Systems Inc (08/15/13) CONV 233326AE7 14 13000 PRN SOLE 13000
Danaher Corp (08/09/10) CONV 235851AF9 21 18000 PRN SOLE 18000
EMC Corp CONV 268648AM4 41 30000 PRN SOLE 30000
Fisher Scientific Intl (03/02/ CONV 338032AX3 18 14000 PRN SOLE 14000
General Cable Corp CONV 369300AD0 9 10000 PRN SOLE 10000
Intel Corp CONV 458140AF7 28 24000 PRN SOLE 24000
Intl Game Technology CONV 459902AQ5 17 16000 PRN SOLE 16000
Janus Capital Group Inc CONV 47102XAG0 14 12000 PRN SOLE 12000
Life Technologies Corp (02/15/ CONV 46185RAK6 29 26000 PRN SOLE 26000
Lifepoint Hospitals Inc CONV 53219LAH2 19 19000 PRN SOLE 19000
Linear Technology Corp (05/01/ CONV 535678AC0 18 18000 PRN SOLE 18000
Medtronic Inc CONV 585055AM8 26 26000 PRN SOLE 26000
Mylan Labs Inc CONV 628530AG2 13 13000 PRN SOLE 13000
Navistar Intl Corp CONV 63934EAL2 20 18000 PRN SOLE 18000
Netapp Inc CONV 64110DAB0 28 17000 PRN SOLE 17000
Newmont Mining Corp CONV 651639AH9 29 20000 PRN SOLE 20000
PNC Financial Services Group CONV 635405AW3 202 200000 PRN SOLE 200000
Pioneer Natural Res (01/15/13) CONV 723787AH0 19 15000 PRN SOLE 15000
SM Energy Co (04/06/12) CONV 792228AD0 19 18000 PRN SOLE 18000
Sandisk Corp CONV 80004CAD3 25 27000 PRN SOLE 27000
Stanley Black & Decker Inc CONV 854616AM1 19 17000 PRN SOLE 17000
Tech Data Corp (12/20/11) CONV 878237AE6 17 17000 PRN SOLE 17000
Teva Pharm Fin BV (02/01/11) CONV 88165FAA0 20 17000 PRN SOLE 17000
AAM High Yield Total Return MF 1678 1677676.710SH SOLE 1677676.710
American Beacon HY Bond Inv MF 02368A455 456 51329.688SH SOLE 51329.688
American High Income Tr Cl 2 MF 026547828 1794 161182.159SH SOLE 161182.159
CMG Ultra Short Term Bond MF 19765E823 1493 164113.786SH SOLE 164113.786
DWS US Bond Index Fund Cl S MF 23339C743 2280 209001.639SH SOLE 20537.127 188464.512
Delaware Extended Dur Cl C MF 245908819 376 56244.660SH SOLE 56244.660
Direxion 10 Year Note Bear 2X MF 254939770 1127 136154.310SH SOLE 32090.993 104063.317
Eaton Vance Sr Fltg Rate Fund MF 27828Q105 528 33622.088SH SOLE 15585.000 18037.088
Eaton Vance Str Inc Cl A MF 277911772 125 15287.636SH SOLE 15287.636
Federated Total Return Bond MF 31428Q507 259 22740.157SH SOLE 22740.157
Fidelity Strategic Income MF 31638R303 239 20965.744SH SOLE 20965.744
Franklin High Income Fund MF 353538309 105 52737.823SH SOLE 2600.002 50137.821
Franklin U S Gov't Securities MF 353496607 776 113963.692SH SOLE 113963.692
Goldman Sachs Enh Inc Cl A MF 38142Y534 1438 149197.121SH SOLE 41222.844 107974.277
Harbor High Yield Bond MF 411511553 149 13550.136SH SOLE 13550.136
Highland Fltg Rate Adv Cl A MF 430097105 213 32018.322SH SOLE 32018.322
ING PIMCO Total Ret S2 MF 449797166 283 23047.962SH SOLE 23047.962
Ivy High Income Cl I MF 466000122 5215 615017.330SH SOLE 615017.330
JPM Strategic Inc Oppty MF 4812A4351 140 11978.705SH SOLE 11978.705
JPMorgan High Yield Bond MF 4812C0803 226 28117.944SH SOLE 28117.944
Legg Mason S/T Bnd Cl C MF 52469E708 50 12818.097SH SOLE 12818.097
Loomis Sayles Bond Retail MF 543495832 310 21909.214SH SOLE 21909.214
Loomis Sayles Invest Gr Cl A MF 543487144 267 21266.955SH SOLE 21266.955
Loomis Sayles Str Inc Cl C MF 543487268 262 17770.784SH SOLE 17770.784
Nuveen Quality Pfd Inc Fnd MF 67071S101 82 10100.000SH SOLE 5900.000 4200.000
PIMCO All Asset All Auth C MF 72200Q216 138 12519.618SH SOLE 12519.618
PIMCO All Asset All Auth I MF 72200Q182 159 14292.390SH SOLE 14292.390
PIMCO Emerging Markets D MF 722005790 436 38152.512SH SOLE 38152.512
PIMCO Total Return Fund II MF 693390551 128 11439.527SH SOLE 11439.527
Pimco Foreign Bond (Unhedged) MF 722005212 475 42483.295SH SOLE 42483.295
Pioneer Floating Rate Trust MF 72369J102 321 26502.605SH SOLE 16971.000 9531.605
Principal High Yield Cl I MF 74254R637 3022 266999.480SH SOLE 9333.959 257665.521
ProShares Ultra Sht 20 Trs MF 74347R297 4456 142580.000SH SOLE 65365.000 77215.000
Putnam Abs Return 300 Cl Y MF 746764323 19156 1763935.367SH SOLE 1763935.367
Putnam Master Int Inc Trust MF 746909100 202 32091.000SH SOLE 8000.000 24091.000
Putnam Premier Income Trust MF 746853100 108 16000.000SH SOLE 16000.000
SPDR Barclays Capital HY ETF MF 78464A417 3880 96985.000SH SOLE 13780.000 83205.000
Security High Income Fund Cl A MF 814291878 2413 190586.445SH SOLE 1350.949 189235.496
Strat Cons Alloc Cl A MF 31847S100 693 65368.351SH SOLE 65368.351
T. Rowe Price New Inc Fund MF 779570100 235 24112.977SH SOLE 24112.977
Vanguard Int Term Bond ETF MF 921937819 546 6293.297 SH SOLE 1898.297 4395.000
Vanguard S/T Corp Bond MF 92206C409 706 9015.000 SH SOLE 600.000 8415.000
Vanguard Short Term Bond ETF MF 921937827 12433 152090.450SH SOLE 56362.126 95728.324
Vanguard Short Term Inv Adm MF 922031836 7231 665207.528SH SOLE 252747.214 412460.314
Vanguard Tot Bnd Mkt Signal MF 921937868 1818 167053.386SH SOLE 143396.145 23657.241
Vanguard Total Bond Mkt ETF MF 921937835 16291 197083.621SH SOLE 55951.361 141132.260
iShares Barclays 1 to 3 Yr Cre MF 464288646 810 7715.000 SH SOLE 3625.000 4090.000
iShares Barclays 1-3 Yr Trsy MF 464287457 207 2458.000 SH SOLE 1215.000 1243.000
iShares Barclays AGG Bnd Fnd MF 464287226 4047 37251.769SH SOLE 9275.000 27976.769
iShares Barclays US TIPS Fnd MF 464287176 430 3941.082 SH SOLE 90.422 3850.660
iShares JPM Emerging Bond Fund MF 464288281 1207 10840.000SH SOLE 3050.000 7790.000
iShares iBoxx HY Corp Bond MF 464288513 4626 51575.008SH SOLE 14557.469 38567.539
iShares iBoxx Inv Grade Bnd MF 464287242 5880 51996.290SH SOLE 24135.000 29261.290
BB&T Capital Trust VI 9.6% PFD 05531B201 3820 133570 SH SOLE 46490 89080
Bank of America Cap Trst III 7 PFD 05518E202 202 8065 SH SOLE 200 7865
Bank of America Corp 8.625% PFD 060505559 3283 125085 SH SOLE 38000 87085
JPM Chase Capital XXVI 8.0% PFD 48124G104 1112 41125 SH SOLE 15800 25325
Nuveen Quality Pfd Inc Fnd II PFD 67072C105 513 59607 SH SOLE 29955 29652
Powershares Preferred Port PFD 73936T565 9765 675310 SH SOLE 235300 440010
UBS Pref Fndng Trust IV PFD 90263W201 452 27705 SH SOLE 27705
US Bancorp 7.875% PFD 902973882 272 9700 SH SOLE 2000 7700
Wells Fargo & Co 8.0% PFD 949746879 495 18100 SH SOLE 1500 16600
Wells Fargo Pfd Private Shares PFD KEK746889 0 113400 SH SOLE 40000 73400
iShares S&P Pref Stock Index PFD 464288687 514 12920 SH SOLE 3755 9165
Alerian MLP INC 00162Q866 355 22985.000SH SOLE 22985.000
Energy Transfer Partnership INC 29273R109 24 490.000 SH SOLE 490.000
Enerplus Resources Fund INC 29274D604 628 24376.451SH SOLE 7850.000 16526.451
Ferrellgas Partners INC 315293100 471 18660.734SH SOLE 13041.732 5619.001
Kayne Anderson Energy Tot Ret INC 48660P104 724 27894.000SH SOLE 7050.000 20844.000
Kayne Anderson MLP Investment INC 486606106 202 7700.000 SH SOLE 7700.000
Magellan Midstream Partners INC 559080106 102 1990.000 SH SOLE 1990.000
Oneok Partners LP INC 68268N103 73 968.000 SH SOLE 968.000
SteelPath MLP Income Fund-A INC 858268600 640 61279.778SH SOLE 20353.733 40926.045
Sun Communities INC 866674104 618 20123.732SH SOLE 5575.000 14548.732
3M Co COM 88579Y101 482 5563 SH SOLE 1830 3733
AT&T Inc COM 00206R102 2496 87273 SH SOLE 12235 75038
Abbott Laboratories COM 002824100 1414 27062 SH SOLE 400 26662
Activision Blizzard Inc COM 00507V109 1221 112808 SH SOLE 24603 88205
Acuity Brands Inc COM 00508Y102 289 6522 SH SOLE 6522
Adobe Systems COM 00724f101 1452 55524 SH SOLE 13845 41679
Agnico-Eagle Mines Ltd COM 008474108 1712 24106 SH SOLE 6450 17656
Air Products & Chemical COM 009158106 248 2994 SH SOLE 2994
Albemarle Corp COM 012653101 226 4821 SH SOLE 4821
Alcatel-Lucent Sponsored ADR COM 013904305 35 10452 SH SOLE 10452
Allscripts-Misys Healthcare So COM 01988P108 1170 63321 SH SOLE 13151 50170
Altria Group Inc COM 02209S103 354 14757 SH SOLE 1451 13306
Amerigroup Corp COM 03073T102 265 6250 SH SOLE 6250
Amgen Inc COM 031162100 377 6837 SH SOLE 6837
Apache Corp COM 037411105 259 2645 SH SOLE 525 2120
Apollo Investment Corp COM 03761U106 5 483 SH SOLE 483
Apple Computer Inc COM 037833100 3454 12174 SH SOLE 7710 4464
Applied Materials COM 038222105 1590 136135 SH SOLE 32000 104135
Automatic Data Processing COM 053015103 208 4939 SH SOLE 175 4764
BB&T Corporation COM 054937107 2279 94641 SH SOLE 94641
BHP Billiton Ltd Spon ADR COM 088606108 219 2863 SH SOLE 2863
Banctrust Financial Group COM 05978R107 69 22500 SH SOLE 22500
Bank of America Corp COM 060505104 2325 177426 SH SOLE 59951 117475
Barrick Gold Corp COM 067901108 484 10451 SH SOLE 10451
Berkshire Hathaway Inc Cl A COM 084670108 1992 16 SH SOLE 16
Berkshire Hathaway Inc Cl B COM 084670702 1060 12815 SH SOLE 1000 11815
Boeing Company COM 097023105 271 4066 SH SOLE 200 3866
Brilliance China Auto Ltd COM G1368B102 76 100000 SH SOLE 100000
Bristol-Myers Squibb Co COM 110122108 806 29735 SH SOLE 9600 20135
Brown-Forman Corp-Cl B COM 115637209 269 4367 SH SOLE 4367
C R Bard Inc COM 067383109 497 6102 SH SOLE 100 6002
CNO Financial Group, Inc. COM 12621E103 306 55185 SH SOLE 28500 26685
CVS Corp COM 126650100 284 9026 SH SOLE 885 8141
Capital One Financial COM 14040H105 515 13013 SH SOLE 13013
Capstone Bank Equity Certifica COM 14069C102 218 24250 SH SOLE 24250
CarMax Inc COM 143130102 301 10810 SH SOLE 10810
Caterpillar COM 149123101 1324 16825 SH SOLE 805 16020
Charles Schwab Corp COM 808513105 641 46092 SH SOLE 16826 29267
Chevron Corp COM 166764100 2227 27480 SH SOLE 4365 23115
China Wi-Max Comm Inc COM 16948L104 2 20000 SH SOLE 20000
Cisco Systems COM 17275R102 1784 81453 SH SOLE 16115 65338
Citigroup Inc COM 172967101 385 98463 SH SOLE 16100 82363
Coca Cola Company COM 191216100 2875 49131 SH SOLE 4600 44531
Colgate Palmolive Co COM 194162103 1722 22407 SH SOLE 4385 18022
Comcast Corp-New Cl A COM 20030N101 222 12298 SH SOLE 1605 10693
ConocoPhillips COM 20825C104 782 13619 SH SOLE 814 12806
Costco Wholesale COM 22160K105 217 3358 SH SOLE 70 3288
Cracker Barrel Old Country COM 22410J106 289 5692 SH SOLE 5692
Danaher Corp COM 235851102 413 10168 SH SOLE 1676 8492
Delta Air Lines COM 247361702 145 12480 SH SOLE 12480
Diageo PLC ADR COM 25243Q205 211 3064 SH SOLE 3064
Dole Food Company, Inc. COM 256603101 1118 122150 SH SOLE 34140 88010
Dominion Resources COM 25746U109 1164 26650 SH SOLE 7073 19577
Du Pont E.I. De Nemours & Co COM 263534109 481 10784 SH SOLE 10784
Duke Energy Corp COM 26441C105 658 37148 SH SOLE 3575 33573
EAU Technologies Inc COM 26824Y104 8 39100 SH SOLE 39100
EMC Corp COM 268648102 2785 137104 SH SOLE 35224 101880
Emerson Electric Co COM 291011104 225 4266 SH SOLE 4266
EnergySolutions Inc COM 292756202 88 17500 SH SOLE 17500
Enterprise Products Partners COM 293792107 233 5867 SH SOLE 5867
Express Scripts Inc COM 302182100 1415 29057 SH SOLE 7490 21567
Exxon Mobil Corp COM 30231G102 7765 125667 SH SOLE 25534 101432
First Horizon National Corp. COM DCA517101 0 400798 SH SOLE 400798
Fiserv Inc COM 337738108 1601 29753 SH SOLE 7123 22630
Flowserve Corp COM 34354P105 1478 13505 SH SOLE 3360 10145
Ford Motor COM 345370860 147 12005 SH SOLE 12005
Fulton Financial Corp COM 360271100 640 70643 SH SOLE 70643
Gannett Co, Inc COM 364730101 122 10000 SH SOLE 10000
General Electric COM 369604103 4011 246813 SH SOLE 54197 193716
Gilead Sciences Inc COM 375558103 879 24680 SH SOLE 5750 18930
Google Inc COM 38259P508 2325 4422 SH SOLE 1457 2965
Grainger W W Inc COM 384802104 202 1700 SH SOLE 1700
Harris Corp COM 413875105 1710 38600 SH SOLE 9449 29151
Hewlett-Packard Company COM 428236103 455 10821 SH SOLE 10821
ITT Corp COM 450911102 1576 33660 SH SOLE 8690 24970
Intel Corp COM 458140100 886 46145 SH SOLE 3440 42705
International Business Machine COM 459200101 1353 10090 SH SOLE 686 9404
International Paper COM 460146103 249 11439 SH SOLE 11439
Intl Dispensing Corp COM 459407102 130 260095 SH SOLE 260095
JP Morgan Chase & Co COM 46625H100 1246 32739 SH SOLE 16499 16240
Jacobs Engineering Group Inc COM 469814107 1217 31458 SH SOLE 6995 24463
Johnson & Johnson COM 478160104 6497 104863 SH SOLE 20988 84275
Kellogg Company COM 487836108 4643 91925 SH SOLE 89400 2525
Kimberly-Clark Corp COM 494368103 765 11759 SH SOLE 9738 2021
Kinder Morgan Energy Part, LP COM 494550106 1296 18915 SH SOLE 9464 9451
Kinder Morgan Management COM EKE55U103 0 10990 SH SOLE 10990
Kraft Foods Inc COM 50075N104 285 9222 SH SOLE 784 8438
Laboratory Corp of Amer Hldgs COM 50540R409 1506 19204 SH SOLE 3561 15643
Lockheed Martin COM 539830109 242 3395 SH SOLE 3395
Lowe's Companies COM 548661107 383 17195 SH SOLE 10104 7091
MSCI Inc COM 55354G100 1169 35188 SH SOLE 7093 28095
Macatawa Bank Corp COM 554225102 48 32405 SH SOLE 32405
Manulife Financial Corp COM 56501R106 257 20334 SH SOLE 20334
McCormick & Co COM 579780206 345 8209 SH SOLE 6205 2004
McDonald's Corp COM 580135101 909 12198 SH SOLE 1500 10698
Meadwestvaco Corp COM 583334107 201 8250 SH SOLE 8250
Mechel COM 583840509 91 11000 SH SOLE 11000
Medtronic Inc COM 585055106 458 13647 SH SOLE 1445 12201
Merck & Co Inc COM 58933Y105 1636 44454 SH SOLE 2479 41975
Microsoft Corp COM 594918104 3068 125295 SH SOLE 15426 109869
MidCarolina Financial Corp COM 59563Q107 124 39953 SH SOLE 39953
Monarch Financial Holdings COM 60907Q100 232 27587 SH SOLE 27587
NYSE Euronext COM 629491101 1797 62882 SH SOLE 12645 50236
Nestle ADR COM 641069406 257 4793 SH SOLE 4793
Neutral Tandem Inc COM 64128B108 258 21600 SH SOLE 21600
NewMarket Corp COM 651587107 385 3391 SH SOLE 3391
Newmont Mining Corp COM 651639106 919 14625 SH SOLE 5610 9795
NextEra Energy Inc COM 65339F101 250 4590 SH SOLE 4590
Norfolk Southern Corporation COM 655844108 41478 697000 SH SOLE 15233 681767
Northrop Grumman COM 666807102 472 7787 SH SOLE 2568 5219
Occidental Petroleum COM 674599105 337 4310 SH SOLE 1000 3310
Old Republic Intl Corp COM 680223104 605 43678 SH SOLE 43678
Omnicom Group COM 681919106 342 8669 SH SOLE 8669
Oneok Inc COM 682680103 1064 23622 SH SOLE 4736 18886
Oracle Corp COM 68389x105 288 10711 SH SOLE 570 10141
PNC Financial Services Group COM 693475105 651 12539 SH SOLE 12539
Parker-Hannifin COM 701094104 221 3160 SH SOLE 3160
Pepsico Inc COM 713448108 4990 75100 SH SOLE 20588 54811
Petroleo Brasileiro S.A. ADR COM 71654V408 1396 38492 SH SOLE 7765 30727
Pfizer Inc COM 717081103 2010 117068 SH SOLE 50421 66647
Phillip Morris Intl Inc COM 718172109 803 14336 SH SOLE 1491 12845
Phillips-Van Heusen Corp COM 718592108 224 3717 SH SOLE 3717
Potomac Bancshares Inc COM 737643106 95 20581 SH SOLE 1550 19031
Procter & Gamble COM 742718109 3346 55788 SH SOLE 10127 45661
Progress Energy Inc COM 743263105 293 6604 SH SOLE 610 5994
Reynolds American Inc COM 761713106 205 3454 SH SOLE 3454
Robert Half Intl Inc COM 770323103 832 32000 SH SOLE 32000
Royal Bank of Canada COM 780087102 830 15931 SH SOLE 15931
Royal Dutch Shell PLC - ADR A COM 780259206 298 4949 SH SOLE 984 3965
Schlumberger Ltd COM 806857108 1424 23112 SH SOLE 6760 16352
Shaw Group, Inc. COM 820280105 255 7600 SH SOLE 7600
Sherwin-Williams Co COM 824348106 203 2708 SH SOLE 2708
Sirius XM Radio Inc COM 82966U103 21 17690 SH SOLE 17690
Southern Co COM 842587107 1239 33280 SH SOLE 8796 24484
Southern Nat Bancorp (Rest) COM 843395906 144 20000 SH SOLE 20000
Southern Natl Bancorp of Va COM 843395104 856 119072 SH SOLE 119072
SunTrust Banks COM 867914103 353 13652 SH SOLE 1884 11768
Sysco Corp COM 871829107 224 7866 SH SOLE 7866
Target Corp COM 87612E106 287 5368 SH SOLE 3120 2248
Teva Pharmaceutical COM 881624209 1483 28112 SH SOLE 6642 21470
The Clorox Co COM 189054109 255 3820 SH SOLE 3820
The Walt Disney Co COM 254687106 759 22945 SH SOLE 3662 19284
Towne Bank COM 89214P109 1094 73124 SH SOLE 22655 50469
Tuesday Morning Corp COM 899035505 305 64000 SH SOLE 64000
UBS AG New COM H89231338 178 10430 SH SOLE 10430
US Bancorp COM 902973304 1565 72364 SH SOLE 14114 58250
Union Pacific COM 907818108 236 2885 SH SOLE 2885
United Parcel Service CL B COM 911312106 297 4451 SH SOLE 4451
United Technologies COM 913017109 696 9767 SH SOLE 225 9542
VCA Antech Inc COM 918194101 908 43062 SH SOLE 8919 34143
Valeant Pharm Intl Inc COM 91911K102 210 8373 SH SOLE 8373
Verizon Communications Inc COM 92343V104 2700 82832 SH SOLE 14882 67950
Wal-Mart Stores COM 931142103 588 10994 SH SOLE 540 10454
Walgreen Co COM 931422109 270 8065 SH SOLE 2719 5346
Waste Management, Inc COM 94106L109 405 11339 SH SOLE 3700 7639
Wells Fargo & Co COM 949746101 607 24155 SH SOLE 863 23292
Windstream Corp COM 97381W104 386 31436 SH SOLE 12752 18684
eBay Inc COM 278642103 2001 82020 SH SOLE 18920 63100
hhgregg Inc COM 42833L108 1610 65005 SH SOLE 17845 47160
A/H Investments LLP- Carlisle MF pvtcap3 750 750000.000SH SOLE 750000.000
Absolute Strategies Fnd Cl I MF 34984T600 213 19776.939SH SOLE 19776.939
American EuroPac Growth F2 MF 29875E100 14 359.693 SH SOLE 359.693
Artio Intl Equity II MF 04315J837 199 16653.976SH SOLE 16653.976
CS 12M SPX Note 05/02/11 MF 22546EUD4 104 107000.000SH SOLE 107000.000
CS Asia Mkt Plus 2/10/11 MF 22546EKR4 168 150000.000SH SOLE 150000.000
Claymore S&P Glbl Water MF 18383Q507 317 17040.000SH SOLE 675.000 16365.000
Columbia Marsico 21st Cent A MF 19765J103 155 13173.603SH SOLE 13173.603
Columbia Select LC Growth MF 19765Y688 1160 103162.984SH SOLE 103162.984
DFA International Real Estate MF 233203348 878 164176.975SH SOLE 66239.456 97937.519
Eaton Vance Glb Macro Abs I MF 277923728 2502 241960.265SH SOLE 87402.556 154557.709
Eaton Vance Glbl Macro Cl A MF 277923736 1386 133789.902SH SOLE 12857.053 120932.849
FT ISE Global Wind Energy MF 33736G106 566 55240.000SH SOLE 15955.000 39285.000
First Eagle Gold Cl A MF 32008F408 217 6655.129 SH SOLE 331.236 6323.893
Franklin Income Cl C MF 353496805 25 11530.783SH SOLE 11530.783
Franklin Rising Dvd Cl C MF 353825409 219 7201.543 SH SOLE 7201.543
GS 12M EAFE Note 04/25/11 MF 38143UHL8 97 105000.000SH SOLE 105000.000
Goldman Sachs Mid Val Cl C MF 38142V696 256 8377.640 SH SOLE 8377.640
Guggenheim Solar MF 18383M621 2591 300916.000SH SOLE 116376.000 184540.000
Harbor Capital Appreciation MF 411511504 1674 50708.042SH SOLE 50708.042
Highbridge Stat Mkt Neutral MF 4812A2454 686 45199.491SH SOLE 3609.190 41590.301
Highbridge Statistical Market MF 4812A2439 790 51602.266SH SOLE 16698.327 34903.939
Highland L/S Equity-A MF 430070201 3758 346706.939SH SOLE 70766.173 275940.766
Ivy Asset Strategy I MF 466001864 599 26071.388SH SOLE 436.549 25634.839
JP Morgan US Large Cap Core MF 4812A2389 236 12721.897SH SOLE 12721.897
JPM 2YR Asian Note 5/2/12 MF 48124ANA1 49 50000.000SH SOLE 50000.000
MFS Value Fund-Class I MF 552983694 246 11707.863SH SOLE 11707.863
MS 1Yr Commodity CPN Note MF 617482LG7 72 75000.000SH SOLE 75000.000
Market Vectors Gold Miners MF 57060U100 3307 59127.000SH SOLE 10060.000 49067.000
Marketfield Fund MF 89833W865 2280 182583.724SH SOLE 34944.880 147638.844
Natixis CGM Target Eqty Cl A MF 63872R103 143 14634.795SH SOLE 14634.795
PIMCO All Asset All Auth D MF 72200Q190 1246 112526.132SH SOLE 112526.132
PIMCO StockPlus Tot Ret D MF 72200Q588 850 116503.521SH SOLE 116503.521
PowerShares DB Agr Fund MF 73936B408 209 7605.000 SH SOLE 250.000 7355.000
PowerShares DB Comdty Index MF 73935S105 11580 480319.000SH SOLE 192780.000 289179.000
Powershares India MF 73935L100 397 15705.753SH SOLE 15705.753
Russell Real Estate Sec MF 782493761 243 6978.486 SH SOLE 667.224 6311.262
Rydex Russell Top 50 MF 78355W205 24092 293088.048SH SOLE 73655.000 219433.048
S&P Depository Receipts MF 78462f103 1612 14123.428SH SOLE 3692.350 10431.078
SPDR DJ Wilshire Large Cap MF 78464A854 623 11540.000SH SOLE 480.000 11060.000
SPDR Gold Trust MF 78463V107 11794 92209.000SH SOLE 29410.000 63989.000
SPDR S&P Intl Small Cap MF 78463X871 894 31990.000SH SOLE 2755.000 29235.000
Sierra Core Retirement Cl I MF 66537T562 801 33092.460SH SOLE 6017.868 27074.592
Sierra Core Retirement Cl R MF 66537T554 3515 145779.438SH SOLE 37117.736 108661.702
T. Rowe Price Dvd Growth Fnd MF 779546100 1713 82693.751SH SOLE 82693.751
T. Rowe Price Growth Equity Po MF 44981D441 242 4951.000 SH SOLE 4951.000
T. Rowe Price Intl Discovery MF 77956H302 2185 53424.578SH SOLE 53424.578
TS&W Equity Portfolio MF 00758M311 121 12522.552SH SOLE 12522.552
Touchstone Sands Sel Gr Y MF 89155H827 93 10483.513SH SOLE 10483.513
Unit Van Kampen Argus 2009a MF 145 14003.000SH SOLE 14003.000
Vanguard All World Ex-US ETF MF 922042775 579 12745.000SH SOLE 2080.000 10665.000
Vanguard Emerging Markets ETF MF 922042858 15343 337505.427SH SOLE 38665.505 301889.922
Vanguard Europe Pacific ETF MF 921943858 482 13950.000SH SOLE 13640.000 310.000
Vanguard Growth ETF MF 922908736 398 7245.000 SH SOLE 7245.000
Vanguard High Dvd Yield ETF MF 921946406 543 13925.000SH SOLE 4300.000 9625.000
Vanguard Mid Cap ETF MF 922908629 516 7786.647 SH SOLE 1445.000 6341.647
Vanguard Small Cap ETF MF 922908751 503 7928.236 SH SOLE 3886.665 4041.571
Vanguard Small Cap Value ETF MF 922908611 366 6132.378 SH SOLE 3512.378 2620.000
Vanguard Value ETF MF 922908744 9838 202010.057SH SOLE 36857.000 165153.057
WisdomTree Intl Large Cap Div MF 97717W794 400 9080.000 SH SOLE 490.000 8590.000
WisdomTree Intl Small Cap Div MF 97717W760 4623 97481.536SH SOLE 15987.000 81494.536
WisdomTree Large Cap Dividend MF 97717W307 435 10193.000SH SOLE 2343.000 7850.000
WisdomTree Small Cap Dvd MF 97717W604 357 8420.000 SH SOLE 765.000 7655.000
iShares C&S Realty Index MF 464287564 3233 52214.927SH SOLE 9239.000 42975.927
iShares MSCI Brazil Index MF 464286400 214 2776.000 SH SOLE 2776.000
iShares MSCI EAFE Index MF 464287465 16639 302967.736SH SOLE 47981.757 254985.979
iShares MSCI EAFE Value Index MF 464288877 6855 140879.159SH SOLE 20175.053 120704.106
iShares MSCI Emg Mkts Index MF 464287234 8588 191827.490SH SOLE 86739.014 105088.476
iShares MSCI Germany Index MF 464286806 302 13745.000SH SOLE 13745.000
iShares MSCI Malaysia Index MF 464286830 282 20500.000SH SOLE 20500.000
iShares Russell 1000 Growth MF 464287614 3538 68868.874SH SOLE 3420.000 65448.874
iShares Russell 1000 Index MF 464287622 2080 32930.000SH SOLE 1750.000 31180.000
iShares Russell 1000 Value MF 464287598 3332 56489.689SH SOLE 13515.000 42974.689
iShares Russell 2000 Growth MF 464287648 374 5010.000 SH SOLE 540.000 4470.000
iShares Russell 2000 Index MF 464287655 5974 88500.207SH SOLE 10946.126 77554.081
iShares Russell 2000 Value MF 464287630 3601 58095.898SH SOLE 10380.000 47715.898
iShares Russell 3000 Index MF 464287689 296 4391.099 SH SOLE 1415.000 2976.099
iShares Russell MidCap Index MF 464287499 13535 149774.022SH SOLE 22765.697 127008.325
iShares Russell MidCap Value MF 464287473 5761 142695.718SH SOLE 22500.000 120195.718
iShares Russell Midcap Growth MF 464287481 319 6398.000 SH SOLE 170.000 6228.000
iShares S&P 500 Index MF 464287200 25755 224956.407SH SOLE 34285.000 190671.407
iShares S&P 500 Value Index MF 464287408 644 11863.432SH SOLE 4785.432 7078.000
iShares S&P Latin America 40 MF 464287390 3939 77934.150SH SOLE 5560.000 72374.150
iShares Silver Trust MF 46428Q109 217 10167.000SH SOLE 10167.000
Bowater 10 Rights Exp 09/10/10 WT 102183951 0 16541 SH SOLE 16541
</TABLE>