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, 2006 Check here if Amendment [ ] ; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: A.G. Edwards, Inc. Address: One North Jefferson St. Louis, MO 63103 Form 13F File Number: 28-4192 The institutional investment manager filing this report and the person by who 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: Joseph G. Porter Assistant Treasurer 314-955-3462 Signature, Place, and Date of Signing: /s/ Joseph G. Porter St. Louis, MO 02/13/07 [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).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 3 Form 13F Information Table Entry Total: 409 Form 13F Information Table Value Total: $8,086,767 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 1 28-3548 A.G. Edwards & Sons, Inc. 2 28-6731 A.G. Edwards Trust Company FSB 3 28-11624 Gallatin Asset Management, Inc. VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY----- NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE D AFLAC INC COM 001055102 1077 23415 DEFINED 01 02 03 21680 0 1735 D AT&T INC COM 00206R102 3421 95688 DEFINED 01 02 03 81787 0 13901 D ABBOTT LABORATORIES COM 002824100 10287 211191 DEFINED 01 02 03 190006 0 21185 D ADESA INCORPORATED COM 00686U104 29161 1050851 DEFINED 01 02 03 1050851 0 0 D AETNA INC NEW COM 00817Y108 690 15978 DEFINED 01 02 4467 0 11511 D AFFILIATED COMPUTER COM 008190100 511 10458 DEFINED 01 0 0 10458 D AFFILIATED MANAGERS COM 008252108 7482 71168 DEFINED 01 02 03 71068 0 100 D ALCOA INC COM 013817101 675 22484 DEFINED 01 02 03 20257 0 2227 D ALCATEL LUCENT ADS COM 013904305 155 10915 DEFINED 01 02 10867 0 48 D ALEXANDRIA REAL ESTATE COM 015271109 5133 51127 DEFINED 01 03 51127 0 0 D ALLERGAN INC COM 018490102 431 3601 DEFINED 01 02 3601 0 0 D ALLIANCEBERNSTEIN COM 01881G106 318 3952 DEFINED 01 02 3952 0 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18087 0 5751 D NORFOLK SOUTHERN CORP COM 655844108 6557 130384 DEFINED 01 02 03 130234 0 150 D NORTHERN TRUST CORP COM 665859104 349 5755 DEFINED 01 02 5755 0 0 D NORTHWESTERN CORPORATION COM 668074305 25860 730926 DEFINED 01 02 03 730926 0 0 D NOVARTIS AG COM 66987V109 9995 174008 DEFINED 01 02 03 170173 0 3835 D OGE ENERGY CORP COM 670837103 288 7207 DEFINED 01 02 7207 0 0 D NUVEEN TAX ADVANTAGED COM 67090H102 295 10901 DEFINED 01 4 0 10897 D OCCIDENTAL PETRO CORP COM 674599105 1043 21369 DEFINED 01 02 21369 0 0 D ONEOK PARTNERS COM 68268N103 558 8805 DEFINED 01 02 8805 0 0 D ORACLE CORP COM 68389X105 557 32482 DEFINED 01 02 22446 0 10036 D O REILLY AUTOMOTIVE INC COM 686091109 1146 35755 DEFINED 01 150 0 35605 D PNC FINANCIAL SERVICES COM 693475105 768 10368 DEFINED 01 02 03 9968 0 400 D PPL CORP COM 69351T106 235 6555 DEFINED 01 02 5455 0 1100 D PATTERSON COMPANIES INC COM 703395103 11838 333379 DEFINED 02 03 333379 0 0 D PATTERSON UTI ENERGY INC COM 703481101 218 9378 DEFINED 01 5032 0 4346 D PAYCHEX INC COM 704326107 5169 130731 DEFINED 01 02 03 127635 0 3096 D PEABODY ENERGY CORP COM 704549104 306 7565 DEFINED 01 02 6640 0 925 D PENNEY J C COMPANY INC COM 708160106 1808 23370 DEFINED 01 02 23270 0 100 D PEPSICO INC COM 713448108 71079 1136354 DEFINED 01 02 03 1124710 0 11644 D PFIZER INCORPORATED COM 717081103 52334 2020623 DEFINED 01 02 03 1992415 0 28208 D PIEDMONT NATURAL GAS COM 720186105 5127 191669 DEFINED 01 02 03 191669 0 0 D PITNEY BOWES INC COM 724479100 204 4424 DEFINED 01 02 4424 0 0 D PLUM CREEK TIMBER COM 729251108 17918 449642 DEFINED 01 03 449642 0 0 D POLARIS INDUSTRIES INC COM 731068102 4919 105034 DEFINED 01 03 105034 0 0 D PROCTER & GAMBLE COMPANY COM 742718109 28691 446408 DEFINED 01 02 03 425599 0 20809 D PROGRESS ENERGY INC COM 743263105 419 8545 DEFINED 01 02 8045 0 500 D PRUDENTIAL FINANCIAL INC COM 744320102 2221 25865 DEFINED 01 02 20307 0 5558 D QUALCOMM INC COM 747525103 511 13527 DEFINED 01 02 03 4588 0 8939 D QUEST DIAGNOSTICS INC COM 74834L100 769 14511 DEFINED 01 03 14291 0 220 D RALCORP HOLDINGS INC NEW COM 751028101 1343 26387 DEFINED 01 02 207 0 26180 D RAYONIER INC COM 754907103 26049 634563 DEFINED 01 03 634563 0 0 D REALTY INCOME CORP COM 756109104 4036 145687 DEFINED 01 145687 0 0 D REGIONS FINANCIAL COM 7591EP100 793 21208 DEFINED 01 02 20608 0 600 D RESMED INC COM 761152107 1157 23502 DEFINED 01 0 0 23502 D ROBERT HALF INTL INC COM 770323103 240 6473 DEFINED 01 1 0 6472 D ROCKWELL AUTOMATION INC COM 773903109 743 12173 DEFINED 01 02 11948 0 225 D ROCKWELL COLLINS INC DE COM 774341101 1148 18142 DEFINED 01 02 18142 0 0 D ROSS STORES INC COM 778296103 5963 203503 DEFINED 01 02 03 203503 0 0 D ROYAL BANK CANADA COM 780087102 494 10365 DEFINED 01 02 10365 0 0 D ROYAL DUTCH SHELL PLC COM 780259206 7516 106168 DEFINED 01 02 03 105068 0 1100 D RUBY TUESDAY INC COM 781182100 1219 44406 DEFINED 01 1 0 44405 D SLM CORP COM 78442P106 459 9416 DEFINED 01 02 251 0 9166 D STANDARD & POORS COM 78462F103 81951 578671 DEFINED 01 02 03 577620 0 1052 D ST MARY LAND & COM 792228108 3716 100876 DEFINED 01 02 03 100876 0 0 D SANOFI AVENTIS COM 80105N105 210 4547 DEFINED 01 02 48 0 4499 D SARA LEE CORP COM 803111103 336 19739 DEFINED 01 02 03 19739 0 0 D SCANA CORP NEW COM 80589M102 5270 129745 DEFINED 01 02 03 127135 0 2610 D SCHERING PLOUGH CORP COM 806605101 1147 48536 DEFINED 01 02 03 33112 0 15424 D SCHLUMBERGER LTD COM 806857108 938 14848 DEFINED 01 02 03 11199 0 3649 D SCOTTS-MIRACLE GRO CO COM 810186106 6749 130675 DEFINED 01 02 03 130675 0 0 D SCRIPPS E W CO CL A NEW COM 811054204 2479 49637 DEFINED 01 02 46013 0 3624 D SECTOR SPDR TR SHS BEN COM 81369Y100 3076 88364 DEFINED 01 02 03 88364 0 0 D SECTOR SPDR TR SHS BEN COM 81369Y209 222733 6650733 DEFINED 01 02 03 6650733 0 0 D SECTOR SPDR TR SHS BEN COM 81369Y308 358971 13743167 DEFINED 01 02 03 13741742 0 1425 D SECTOR SPDR TR SBI COM 81369Y407 171709 4476263 DEFINED 01 02 03 4476023 0 240 D SECTOR SPDR TR SBI COM 81369Y506 218605 3728560 DEFINED 01 02 03 3727364 0 1196 D SECTOR SPDR TR SBI COM 81369Y605 430306 11712202 DEFINED 01 02 03 11711252 0 950 D SECTOR SPDR TR SBI COM 81369Y704 282337 8064478 DEFINED 01 02 03 8064253 0 225 D SECTOR SPDR TR SBI COM 81369Y803 344363 14804966 DEFINED 01 02 03 14804091 0 875 D SECTOR SPDR TR SBI COM 81369Y886 3091 84189 DEFINED 01 02 83246 0 943 D SIGMA ALDRICH CORP COM 826552101 27277 350965 DEFINED 01 02 03 350789 0 176 D SIRIUS SATELLITE RADIO COM 82966U103 80 22661 DEFINED 01 02 2501 0 20160 D SKYWEST INC COM 830879102 275 10799 DEFINED 01 0 0 10799 D SMITH & NEPHEW PLC NEW COM 83175M205 14703 280966 DEFINED 01 02 03 280966 0 0 D SNAP ON INC COM 833034101 17971 377234 DEFINED 01 02 03 377234 0 0 D SOURCE CAPITAL INC COM 836144105 683 10106 DEFINED 01 03 10106 0 0 D SOUTH JERSEY IND INC COM 838518108 5521 165264 DEFINED 01 02 03 162848 0 2416 D SOUTHERN COMPANY COM 842587107 23702 643033 DEFINED 01 02 03 642928 0 105 D SPRINT NEXTEL CORP COM 852061100 551 29184 DEFINED 01 02 03 12141 0 17043 D STATE STREET CORP COM 857477103 6126 90831 DEFINED 01 02 03 83706 0 7125 D STEEL DYNAMICS INC COM 858119100 287 8836 DEFINED 01 0 0 8836 D STORA ENSO CORP COM 86210M106 539 34143 DEFINED 01 02 34143 0 0 D STREETTRACKS GOLD TRUST COM 863307104 228 3611 DEFINED 01 0 0 3611 D STREETTRACKS DOW JONES COM 86330E604 9807 111639 DEFINED 01 03 111639 0 0 D STRYKER CORP COM 863667101 2373 43056 DEFINED 01 02 3518 0 39538 D SUN MICROSYSTEMS INC COM 866810104 153 28300 DEFINED 01 02 26366 0 1934 D SYSCO CORPORATION COM 871829107 7597 206669 DEFINED 01 02 03 190495 0 16174 D TCF FINANCIAL CORP COM 872275102 47890 1746531 DEFINED 01 02 03 1746531 0 0 D TEPPCO PRTNRS UT INT COM 872384102 200 4966 DEFINED 01 02 4435 0 531 D TXU CORP COM 873168108 288 5306 DEFINED 01 02 5306 0 0 D TARGET CORP COM 87612E106 14268 250095 DEFINED 01 02 03 244633 0 5462 D TEREX CORP NEW COM 880779103 236 3660 DEFINED 01 0 0 3660 D TEXAS INSTRUMENTS INC COM 882508104 1128 39184 DEFINED 01 02 27310 0 11874 D 3M COMPANY COM 88579Y101 41155 528100 DEFINED 01 02 03 527289 0 811 D TIDEWATER INC COM 886423102 227 4692 DEFINED 01 02 1546 0 3146 D TIME WARNER INC NEW COM 887317105 273 12546 DEFINED 01 02 03 5496 0 7050 D TOYOTA MOTOR CORP COM 892331307 210 1565 DEFINED 01 02 655 0 910 D TRANSCANADA CORP COM 89353D107 384 11001 DEFINED 01 02 11001 0 0 D TRIBUNE CO NEW 10/83 COM 896047107 1787 58070 DEFINED 01 02 50646 0 7424 D TYCO INTERNATIONAL COM 902124106 18126 596251 DEFINED 01 02 03 596151 0 100 D U S BANCORP DE NEW COM 902973304 1993 55064 DEFINED 01 02 48556 0 6508 D UNILEVER PLC COM 904767704 297 10687 DEFINED 01 1 0 10686 D UNION PACIFIC CORP COM 907818108 931 10114 DEFINED 01 02 10114 0 0 D UNITED PARCEL SERVICE COM 911312106 272 3632 DEFINED 01 02 03 2687 0 945 D UNITED TECHNOLOGIES CORP COM 913017109 10232 163654 DEFINED 01 02 03 157501 0 6153 D UNITEDHEALTH GROUP INC COM 91324P102 266 4944 DEFINED 01 02 03 3209 0 1735 D VANGUARD SECTOR INDEX COM 92204A108 3436 56510 DEFINED 03 56510 0 0 D VANGUARD WORLD FUNDS COM 92204A207 8698 136252 DEFINED 01 03 136252 0 0 D VANGUARD WORLD FUNDS COM 92204A306 11435 134518 DEFINED 01 03 134518 0 0 D VANGUARD WORLD FUNDS COM 92204A405 6345 96864 DEFINED 01 03 96864 0 0 D VANGUARD WORLD FUNDS COM 92204A603 9533 145701 DEFINED 01 03 145701 0 0 D VANGUARD WORLD FUNDS COM 92204A702 9253 176146 DEFINED 03 176146 0 0 D VARIAN MEDICAL SYSTEMS COM 92220P105 4757 99993 DEFINED 01 02 99993 0 0 D VECTREN CORP COM 92240G101 16595 586810 DEFINED 01 02 03 586810 0 0 D VANGUARD INDEX FUNDS COM 922908553 2174 28236 DEFINED 01 03 28095 0 141 D VERIZON COMMUNICATIONS COM 92343V104 3944 105911 DEFINED 01 02 03 95687 0 10224 D WPS RESOURCES CORP COM 92931B106 233 4318 DEFINED 01 02 4318 0 0 D WACHOVIA CORP NEW COM 929903102 7426 130400 DEFINED 01 02 113507 0 16893 D WAL-MART STORES INC COM 931142103 47942 1038157 DEFINED 01 02 03 1008431 0 29726 D WALGREEN COMPANY COM 931422109 8142 177430 DEFINED 01 02 127183 0 50247 D WASHINGTON MUTUAL INC COM 939322103 236 5193 DEFINED 01 02 3993 0 1200 D WASHINGTON POST COMPANY COM 939640108 225 303 DEFINED 01 02 303 0 0 D WASTE MANAGEMENT INC DEL COM 94106L109 323 8786 DEFINED 01 02 3441 0 5345 D WATERS CORP COM 941848103 27478 561112 DEFINED 02 03 561112 0 0 D WEIGHT WATCHERS INTL INC COM 948626106 19250 366459 DEFINED 01 02 03 366459 0 0 D WELLPOINT INC COM 94973V107 1831 23275 DEFINED 01 02 116 0 23159 D WELLS FARGO & CO NEW COM 949746101 54619 1535959 DEFINED 01 02 03 1509110 0 26849 D WESCO FINANCIAL CORP COM 950817106 4708 10234 DEFINED 01 02 03 10234 0 0 D WESTAMERICA COM 957090103 19151 378261 DEFINED 01 02 03 378261 0 0 D WESTERN UNION COMPANY COM 959802109 36898 1645761 DEFINED 01 02 03 1644761 0 1000 D WHITE ELECTRONIC DESIGNS COM 963801105 153 28041 DEFINED 01 28041 0 0 D WILEY JOHN & SONS CL A COM 968223206 7433 193212 DEFINED 01 02 03 193212 0 0 D WILMINGTON TRUST CORP COM 971807102 305 7239 DEFINED 01 02 7239 0 0 D WISCONSIN ENERGY CORP COM 976657106 208 4381 DEFINED 01 02 4381 0 0 D WRIGLEY WILLIAM JUNIOR COM 982526105 240 4650 DEFINED 01 02 03 2320 0 2330 D WYETH COM 983024100 4077 80073 DEFINED 01 02 03 79129 0 944 D XCEL ENERGY INC COM 98389B100 201 8726 DEFINED 01 02 8726 0 0 D ZIMMER HOLDINGS INC COM 98956P102 857 10928 DEFINED 01 02 10803 0 125 D ENDURANCE SPECIALTY COM G30397106 5724 156478 DEFINED 01 02 03 156478 0 0 D INGERSOLL RAND COMPANY COM G4776G101 23970 612583 DEFINED 01 02 03 612583 0 0 D NABORS INDUSTRIES LTD COM G6359F103 311 10448 DEFINED 01 02 120 0 10328 D STEWART W P & CO LTD COM G84922106 15737 993482 DEFINED 01 02 03 993382 0 100 D TRANSOCEAN INC COM G90078109 230 2843 DEFINED 01 02 2375 0 468 D WHITE MOUNTAINS COM G9618E107 24717 42659 DEFINED 01 02 03 42659 0 0 D WILLIS GROUP HOLDINGS COM G96655108 8714 219432 DEFINED 01 02 03 219432 0 0 D UBS AG NEW COM H89231338 454 7521 DEFINED 01 02 3037 0 4484 S REPORT SUMMARY 409 DATA RECORDS 8,086,767 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED