UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2013
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: Vision Capital Management, Inc.
Address: One SW Columbia, Suite 915
Portland, OR 97258
13F File Number:
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: Clifford M. Yount
Title: Chief Compliance Officer
Phone: 503-221-5656
Signature, Place, and Date of Signing:
Clifford Yount Portland, Oregon May 14, 2013
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager: NONE
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF
1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of other Included Managers: 0
Form 13F Information Table Entry Total: 72
Form 13F Information Table Value Total: $583,926
List of Other Included Managers: 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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AEGON N V PFD PERP 6.375 ps 007924301 828 31375 SH Sole 31375
ALLIANZ SE 8.375% PFD F PERPET ps 018805200 556 21900 SH Sole 21900
BARCLAYS BK 8.125%ADR F SPONSO ps 06739h362 268 10500 SH Sole 10500
BBT Corporation ps BBT+F 276 11000 SH Sole 11000
CITY NATIONAL CORP 5.5% PFD ps cyn+c 336 13500 SH Sole 13500
DEUTSCHE BK CONTINGNT CAP TR V ps 25150L108 253 8900 SH Sole 8900
FEDERAL NATL MTG ASSN PFD 8.25 ps 313586737 75 21800 SH Sole 21800
GOLDMAN SACHS GP PREFERRED ps 38143y665 660 28130 SH Sole 28130
HSBC HLDGS PLC SUB CAP 8.125% ps 404280703 476 18575 SH Sole 18575
JPMORGAN CHASE & CO DEP 1/400 ps 46637G124 597 23800 SH Sole 23800
PNC 5.375% Pfd ps PNC+Q 287 11250 SH Sole 11250
PUBLIC STORAGE 5.375 ps 74460W800 387 15250 SH Sole 15250
PUBLIC STORAGE DEPSH1/1000PFD ps 74460W875 388 15525 SH Sole 15525
TCF FINANCIAL PFD 6.45% ps TCB+C 405 16150 SH Sole 16150
TCF FINANCIAL PFD 7.50% ps TCB+B 543 20100 SH Sole 20100
AMAZON COM INC COM cs 023135106 1071 4018 SH Sole 4018
AMERISOURCEBERGEN CORP COM cs 03073E105 15914 309310 SH Sole 309310
APPLE INC COM cs 037833100 30610 69151 SH Sole 69151
ASSOCIATES FIRST CAP CP RESIDU cs 046008207 0 12275 SH Sole 12275
BLACKROCK INC COM STK cs 09247X101 16436 63984 SH Sole 63984
CATERPILLAR INC COM cs 149123101 12170 139932 SH Sole 139932
CELGENE CORP COM cs 151020104 16009 138116 SH Sole 138116
CHEVRON CORP NEW COM cs 166764100 396 3330 SH Sole 3330
CITRIX SYS INC COM cs 177376100 13346 184949 SH Sole 184949
CLEAN HARBORS INC COM cs 184496107 14380 247542 SH Sole 247542
COLGATE PALMOLIVE CO COM cs 194162103 14279 120977 SH Sole 120977
DISCOVERY COMMUNICATIONS INC C cs 25470F104 15150 192401 SH Sole 192401
DR PEPPER SNAPPLE GROUP INC CO cs 26138E109 15375 327479 SH Sole 327479
DU PONT E I DE NEMOURS & CO CO cs 263534109 11947 243020 SH Sole 243020
E M C CORP MASS COM cs 268648102 11706 489989 SH Sole 489989
EBAY INC COM cs 278642103 15471 285345 SH Sole 285345
EXPRESS SCRIPTS INC COMMON STO cs 30219G108 14773 256428 SH Sole 256428
F5 NETWORKS INC cs 315616102 13228 148497 SH Sole 148497
FAMILY DLR STORES INC COM cs 307000109 14932 252865 SH Sole 252865
FORD MTR CO DEL COM PAR $0.01 cs 345370860 138 10500 SH Sole 10500
GILEAD SCIENCES INC cs 375558103 16295 332949 SH Sole 332949
GOLDROCK MINES CORP COM cs 56428d107 0 25000 SH Sole 25000
GOOGLE INC CL A cs 38259P508 14143 17808 SH Sole 17808
HAVERTY FURNITURE COS cs 419596101 504 24500 SH Sole 24500
INTERNATIONAL BUSINESS MACHS C cs 459200101 15269 71584 SH Sole 71584
INTUITIVE SURGICAL INC COM NEW cs 46120E602 14060 28624 SH Sole 28624
LAS VEGAS SANDS CORP COM cs 517834107 15417 273599 SH Sole 273599
LAUDER ESTEE COS INC CL A cs 518439104 14529 226911 SH Sole 226911
MEAD JOHNSON NUTRITION CO COM cs 582839106 14027 181115 SH Sole 181115
MERA PHARMACEUTICALS INC cs 58732R103 0 80415 SH Sole 80415
MERCHANTS BANCORP cs 588436105 4 25667 SH Sole 25667
MICROSOFT CORP COM cs 594918104 14695 513707 SH Sole 513707
MIRANDA GOLD CORP COM cs 604673103 22 101900 SH Sole 101900
MONSANTO CO NEW COM cs 61166W101 14102 133506 SH Sole 133506
NORTHERN TR CORP COM cs 665859104 263 4814 SH Sole 4814
ORACLE CORP COM cs 68389X105 12819 396516 SH Sole 396516
QUALCOMM INC COM cs 747525103 14469 216154 SH Sole 216154
SCHLUMBERGER LTD COM cs 806857108 14066 187817 SH Sole 187817
SKYWORKS SOLUTIONS INC cs 83088M102 13102 594888 SH Sole 594888
STARBUCKS CORP COM cs 855244109 244 4289 SH Sole 4289
STARWOOD HOTELS & RESORTS WORL cs 85590A401 15293 239960 SH Sole 239960
STERICYCLE INC COM cs 858912108 14778 139180 SH Sole 139180
TARGET CORP COM STK cs 87612E106 14462 211272 SH Sole 211272
UNION PAC CORP COM cs 907818108 12938 90853 SH Sole 90853
UNITED TECHNOLOGIES CORP COM cs 913017109 13816 147880 SH Sole 147880
UNITEDHEALTH GROUP INC cs 91324P102 13876 242548 SH Sole 242548
VERIZON COMMUNICATIONS INC COM cs 92343V104 14113 287134 SH Sole 287134
VISA INC COM CL A STK cs 92826C839 15253 89809 SH Sole 89809
WHOLE FOODS MKT INC COM cs 966837106 11629 134054 SH Sole 134054
ALLIANZ FDS ALGI NFJINTVLINS cs 018920603 1542 69511 SH Sole 69511
ARTISAN PTRNS FDS INC INTL FD cs 04314H204 1893 72631 SH Sole ? ?
ISHARES TR CORE S&P MCP ETF cs 464287507 444 3856 SH Sole 3856
ISHARES TR CORE S&P500 ETF cs 464287200 8154 51817 SH Sole ? ?
ISHARES TR LRGE GRW INDX cs 464287119 1058 12946 SH Sole 12946
ISHARES TR RUSSELL 1000 RUSSEL cs 464287622 469 5378 SH Sole 5378
SCHWAB INVTS 1000 INDEX INV cs 808517106 390 9164 SH Sole 9164
WELLS FARGO FDS TR COM STK INS cs 94975P611 2121 93687 SH Sole 93687