13F-HR 1 finmgmtadv13f63007.txt FINANCIAL MANAGEMENT ADVISORS LLC 1 finmgmtadv13f63007.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F-HR FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2007 ------------------------- 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: Financial Management Advisors, LLC Address: 1900 Avenue of the Stars Suite 900 Los Angeles, CA 90067 Form 13F File Number: 028-03819 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: Marla Harkness Title: VP, CCO Phone: 310-229-2949 Signature, Place, and Date of Signing: /s/ Marla Harkness Los Angeles, CA 8-15-07 - ------------------------------------ ---------------------- ------------ [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 another 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 by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ----------------- Form 13F Information Table Entry Total: 114 ----------------- Form 13F Information Table Value Total: $144,533 ----------------- (thousands) List of Other Included Managers: (None)

Voting Authority ~~Value Shares/ Sh/ Put/ Invstmt Other~~ ---------------------~~-----~~ Title Value Shares/ Sh/ Put/ Invstmt Other Name of Issuer ~~Title~~ of ~~Class~~class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ---------------------------~~---~~ -------------- --------- -------- --------~~-----~~ --- ---- ------- --------- ------- ----- ---~~---~~ ------ ABN AMRO HOLDING NV-SP ADR COM 000937102 ~~1743~~2510 ~~54390.000~~54730 SH Sole ~~54390.000~~54730 ACTIVISION INC COM 004930202 ~~366~~396 21221~~.000~~ SH Sole 21221~~.000~~ AGL RESOURCES INC COM 001204106 ~~350~~360 ~~9000.000~~8900 SH Sole ~~9000.000~~8900 ~~ALLIANCE~~ALASKA ~~RESOURCE~~COMM ~~PARTNERS~~SYSTEM GROUP COM ~~01877R108~~01167P101 ~~283~~410 ~~8200.000~~25900 SH Sole ~~8200.000~~25900 ~~ALTRIA~~ALLIANCE ~~GROUP~~RESOURCE ~~INC~~PARTNERS COM ~~02209S103~~01877R108 ~~1661~~420 ~~19360.000~~10000 SH Sole ~~19360.000~~10000 ~~AMERICAN~~ALTRIA ~~CAMPUS~~GROUP ~~COMMUNITIES~~INC COM ~~024835100~~02209S103 ~~236~~1503 ~~8300.000~~21430 SH Sole ~~8300.000~~21430 AMERICAN CAPITAL STRATEGIES COM 024937104 ~~509~~1209 ~~11000.000~~28430 SH Sole ~~11000.000~~28430 AMETEK INC COM 031100100 ~~718~~1098 ~~22560.000~~27675 SH Sole ~~22560.000~~27675 ~~ARCHSTONE-SMITH~~APPLE ~~TRUST~~COMPUTER INC COM ~~039583109~~037833100 ~~227~~232 ~~3900.000~~1900 SH Sole ~~3900.000~~1900 ~~ASSURANT~~ARCH COAL INC COM ~~04621X108~~039380100 ~~1512~~881 ~~27360.000~~25330 SH Sole ~~27360.000~~25330 ~~AT&T~~ASSURANT INC COM ~~00206R102~~04621X108 ~~354~~1634 ~~9900.000~~27740 SH Sole ~~9900.000~~27740 AUST & NZ BNKG GRP-SPON ADR COM 052528304 ~~335~~370 3000~~.000~~ SH Sole 3000~~.000~~ BANK OF AMERICA CORP COM 060505104 ~~1747~~1770 ~~32720.000~~36200 SH Sole ~~32720.000~~36200 BILLY MARTIN'S USA INC COM 090192402 0 1000000~~.000~~ SH Sole 1000000~~.000~~ BIOMED REALTY TRUST INC. COM 09063H107 ~~209~~359 ~~7300.000~~14300 SH Sole ~~7300.000~~14300 BOARDWALK PIPELINE PARTNERS COM 096627104 ~~290~~373 ~~9400.000~~10500 SH Sole ~~9400.000~~10500 BOSTON PIZZA ROYALTIES-UNITS COM 101084101 ~~410~~459 ~~31500.000~~33600 SH Sole ~~31500.000~~33600 BP PLC-SPONS ADR COM 055622104 ~~243~~262 3628~~.000~~ SH Sole 3628~~.000~~ BPBT ~~PRUDHOE~~GROUP ~~BAY~~PLC ADR COM 05577E101 419 6300 SH Sole 6300 BUNGE LIMITED COM BMG169621 1677 19850 SH Sole 19850 CANETIC RESOURCES TRUST COM 137513107 679 41700 SH Sole 41700 CHEROKEE INC COM 16444H102 322 8800 SH Sole 8800 CHINA FUND INC COM 169373107 344 9000 SH Sole 9000 CISCO SYSTEMS INC COM 17275R102 1609 57790 SH Sole 57790 CNOOC LTD ADR COM 126132109 500 4400 SH Sole 4400 COMPASS MINERALS INTL COM 20451N101 399 11500 SH Sole 11500 CONOCOPHILLIPS COM 20825C104 1595 20320 SH Sole 20320 CROSS TIMBERS ROYALTY TRUST COM ~~055630107~~22757R109 ~~462~~519 ~~6000~~12200 SH Sole 12200 CROSSTEX ENERGY LP COM 22765U102 378 10700 SH Sole 10700 DAVITA INC.~~000~~ COM 23918K108 1338 24830 SH Sole 24830 DCP MIDSTREAM PARTNERS LP COM 23311P100 443 9500 SH Sole 9500 DEVELOPERS DIVERSIFIED RLTY COM 251591103 316 6000~~.000~~ BTSH ~~GROUP~~Sole 6000 DIAGEO PLC-SPONSORED ADR COM ~~05577E101~~25243Q205 ~~371~~1492 17910 SH Sole 17910 DIAMONDROCK HOSPITALITY CO COM 252784301 376 19700 SH Sole 19700 DIGITAL REALTY TRUST COM 253868103 339 9000 SH Sole 9000 EMERSON ELECTRIC CO COM 291011104 1795 38350 SH Sole 38350 ENERGY TRANSFER PARTNERS LP COM 29273R109 401 6500 SH Sole 6500 ENERPLUS RESOURCES FUND COM 29274D604 1616 34330 SH Sole 34330 ENTERTAINMENT PROPERTIES COM 29380T105 333 6200~~.000~~ SH Sole 6200~~.000~~ ~~BUNGE~~EXXON ~~LIMITED~~MOBIL CORP COM ~~BMG169621~~30231G102 ~~1710~~476 ~~23580.000~~5678 SH Sole ~~23580.000~~5678 ~~CADBURY~~GAMESTOP ~~SCHWEPPES~~CORP-~~SPONS~~CL A COM 36467W109 1982 50680 SH Sole 50680 GLAXOSMITHKLINE PLC-ADR COM ~~127209302~~37733W105 ~~1276~~518 ~~29730.000~~9900 SH Sole ~~29730.000~~9900 ~~CAMDEN~~GRAMERCY ~~PROPERTY~~CAP CORP COM COM 384871109 344 12500 SH Sole 12500 HALLIBURTON CO COM 406216101 1177 34120 SH Sole 34120 HARVEST ENERGY TRUST COM ~~133131102~~41752X101 ~~222~~697 ~~3000.000~~22500 SH Sole ~~3000.000~~22500 ~~CBL~~HEWLETT-PACKARD &CO ~~ASSOCIATES~~COM ~~PROPERTIES~~428236103 1644 36850 SH Sole 36850 HIGHLAND HOSPITALITY CORP COM ~~124830100~~430141101 ~~238~~403 ~~5500.000~~21000 SH Sole ~~5500.000~~21000 ~~CHEROKEE~~HONEYWELL INTERNATIONAL INC COM ~~16444H102~~438516106 ~~365~~281 ~~8500.000~~5000 SH Sole ~~8500.000~~5000 ~~CHINA~~HUGOTON ROYALTY TRUST COM 444717102 535 21200 SH Sole 21200 INDIA FUND INC COM ~~169373107~~454089103 ~~308~~292 ~~9000.000~~6700 SH Sole ~~9000.000~~6700 ~~CISCO~~INDITEX ~~SYSTEMS~~SA COM ES0148396 821 13860 SH Sole 13860 INNOVO GROUP INC COM ~~17275R102~~457954600 ~~1485~~27 ~~54325.000~~15000 SH Sole ~~54325~~15000 INTUIT INC COM 461202103 1513 50300 SH Sole 50300 ISHARES MSCI EAFE INDEX FUND COM 464287465 2476 30650 SH Sole 30650 ISHARES MSCI EMERGING MKT IN COM 464287234 408 3100 SH Sole 3100 ISHARES MSCI JAPAN INDEX FD COM 464286848 187 12900 SH Sole 12900 J.~~000~~C. ~~COMPASS~~PENNEY ~~MINERALS~~CO ~~INTERNATION~~INC COM ~~20451N101~~708160106 1298 17930 SH Sole 17930 JOHNSON & JOHNSON COM 478160104 1257 20400 SH Sole 20400 KKR FINANCIAL CORP COM 48248A306 394 15800 SH Sole 15800 LANDAUER INC COM 51476K103 374 7600 SH Sole 7600 LASALLE HOTEL PROPERTIES COM 517942108 347 ~~11000.000~~8000 SH Sole ~~11000.000~~8000 ~~CONOCOPHILLIPS~~MACQUARIE INFRASTRUCTURE COM ~~20825C104~~55608B105 ~~1394~~431 ~~19380~~10400 SH Sole 10400 MAGELLAN MIDSTREAM PTNRS COM 559080106 396 8500 SH Sole 8500 MERCK & CO.~~000~~ INC. COM 589331107 1611 32340 SH Sole ~~19380~~32340 MONSANTO CO COM 61166W101 1999 29590 SH Sole 29590 MORGAN STANLEY COM 617446448 1677 19995 SH Sole 19995 NATL HEALTH INVESTORS INC COM 63633D104 371 11700 SH Sole 11700 NAVTEQ CORP.~~000~~ ~~CROSS~~COM ~~TIMBERS~~63936L100 ~~ROYALTY~~1113 ~~TRUST~~26280 SH Sole 26280 NEWS CORP-CL A COM ~~22757R109~~65248E104 1333 62850 SH Sole 62850 NOKIA CORP-SPON ADR COM 654902204 1940 69000 SH Sole 69000 NORTH EUROPEAN OIL RLTY TR COM 659310106 481 ~~9500.000~~12200 SH Sole ~~9500.000~~12200 ~~CROSSTEX~~NOVARTIS AG-ADR COM 66987V109 1349 24065 SH Sole 24065 ONEOK PARTNERS LP COM 68268N103 376 5500 SH Sole 5500 P G & E CORP COM 69331C108 1132 25000 SH Sole 25000 PENGROWTH ENERGY TRUST COM 706902509 596 31200 SH Sole 31200 PENN WEST ENERGY TRUST COM 707885109 601 18000 SH Sole 18000 PEPSICO INC COM 713448108 1407 21690 SH Sole 21690 PFIZER INC COM 717081103 466 18214 SH Sole 18214 PINNACLE WEST CAPITAL COM 723484101 307 7700 SH Sole 7700 PLAINS ALL AMER PIPELINE LP COM ~~22765U102~~726503105 ~~287~~414 ~~7200.000~~6500 SH Sole ~~7200.000~~6500 ~~DAVITA~~PROSPECT CAPITAL CORP COM 74348T102 473 27100 SH Sole 27100 PRUDENTIAL FINANCIAL INC. COM ~~23918K108~~744320102 ~~1317~~1746 ~~23160.000~~17960 SH Sole ~~23160.000~~17960 ~~DCP~~QUESTAR ~~MIDSTREAM~~CORP COM 748356102 447 8450 SH Sole 8450 RAYONIER INC COM 754907103 402 8900 SH Sole 8900 REALTY INCOME CORP COM 756109104 345 13700 SH Sole 13700 REDDY ICE HOLDINGS COM 75734R105 371 13000 SH Sole 13000 RESOURCE CAPITAL CORP COM 76120W302 326 23300 SH Sole 23300 SATYAM COMP SVCS ADR COM 804098101 1520 61400 SH Sole 61400 SIEMENS AG-SPONS ADR COM 826197501 2113 14770 SH Sole 14770 SOUTHERN COPPER CORP COM 84265V105 632 6700 SH Sole 6700 SUNCOR ENERGY INC COM 867229106 1320 14680 SH Sole 14680 SUNOCO INC COM 86764P109 294 3690 SH Sole 3690 SUNOCO LOGISTICS PTNRS LP COM 86764L108 385 6400 SH Sole 6400 TARRANT APPAREL GROUP COM 876289109 41 35000 SH Sole 35000 TEEKAY LNG PARTNERS LP COM ~~23311P100~~MHY8564M1 ~~311~~367 ~~9000.000~~10200 SH Sole ~~9000.000~~10200 ~~DEVELOPERS~~TELEFONOS ~~DIVERSIFIED~~DE ~~RLTY~~MEXICO-SP ADR L COM ~~251591103~~879403780 ~~233~~1750 ~~3700.000~~46190 SH Sole ~~3700.000~~46190 ~~DIAGEO~~TOTAL ~~PLC~~SA-~~SPONSORED~~SPON ADR COM ~~25243Q205~~89151E109 ~~357~~437 ~~4500.000~~5400 SH Sole ~~4500.000~~5400 ~~DIAMONDROCK~~TOYOTA ~~HOSPITALITY~~MOTOR COCORP COM ~~252784301~~892331307 ~~241~~1536 ~~13400.000~~12200 SH Sole ~~13400.000~~12200 ~~DIGITAL~~UNICREDITO ITALIANO SPA ORD COM t42324458 135 15000 SH Sole 15000 UNILEVER N V -NY SHARES COM 904784709 409 13200 SH Sole 13200 UNITED TECHNOLOGIES CORP COM 913017109 1881 26520 SH Sole 26520 UNITEDHEALTH GROUP INC COM 91324P102 433 8465 SH Sole 8465 US BANCORP COM 902973304 1526 46300 SH Sole 46300 VENTAS INC COM 92276F100 330 9100 SH Sole 9100 VORNADO REALTY TRUST COM ~~253868103~~929042109 ~~226~~1303 ~~6600.000~~11860 SH Sole ~~6600.000~~11860 ~~DUKE~~WELLPOINT ~~REALTY~~INC ~~CORP~~COM 94973V107 1099 13770 SH Sole 13770 WELLS FARGO & COMPANY COM ~~264411505~~949746101 ~~229~~498 ~~5600.000~~14170 SH Sole ~~5600.000~~14170 ~~EMERSON~~WET ~~ELECTRIC~~SEAL COINC/THE-CLASS A COM ~~291011104~~961840105 ~~1632~~60 ~~37020.000~~10000 SH Sole ~~37020~~10000 YELLOW PAGES INCOME FUND COM 985569102 547 42000 SH Sole 42000 YUKOS-SPONSORED ADR COM 98849W108 16 22200 SH Sole 22200 ZIMMER HOLDINGS INC COM 98956P102 1568 18475 SH Sole 18475 FMA EQUITY GROWTH LP 26399 20359.~~000~~976296SH Sole 20359.976296 FMA INCOME EQUITY FUND LP 26820 20064.160276SH Sole 20064.160276 COSMETIC LASER EYE CENTER 221990104 417 208333.330SH Sole 208333.330 REPORT SUMMARY 114 DATA RECORDS 144533 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED

Voting Authority Value Shares/ Sh/ Put/ Invstmt Other -------------------------- Name of Issuer Title of Class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ------------------------------ -------------- --------- -------- ------------- --- ---- ------- -------- ------------ ------ ------ ENERGY TRANSFER PARTNERS LP COM 29273R109 308 5700.000 SH Sole 5700.000 ENI SPA-SPONSORED ADR COM 26874R108 370 5500.000 SH Sole 5500.000 ENTERTAINMENT PROPERTIES TR COM 29380T105 234 4000.000 SH Sole 4000.000 EXXON MOBIL CORP COM 30231G102 784 10228.000 SH Sole 10228.000 FIRST POTOMAC REALTY TRUST COM 33610F109 221 7600.000 SH Sole 7600.000 GAMESTOP CORP-CL A COM 36467W109 1506 27320.000 SH Sole 27320.000 GENERAL GROWTH PROPERTIES COM 370021107 240 4600.000 SH Sole 4600.000 GLAXOSMITHKLINE PLC-ADR COM 37733W105 517 9800.000 SH Sole 9800.000 GRACO INC COM 384109104 690 17405.000 SH Sole 17405.000 HALLIBURTON CO COM 406216101 985 31710.000 SH Sole 31710.000 HEALTH CARE REIT INC COM 42217K106 250 5816.000 SH Sole 5816.000 HEWLETT-PACKARD CO COM 428236103 1499 36390.000 SH Sole 36390.000 HONEYWELL INTERNATIONAL INC COM 438516106 226 5000.000 SH Sole 5000.000 ILLINOIS TOOL WORKS COM 452308109 1397 30240.000 SH Sole 30240.000 INDIA FUND INC COM 454089103 340 7400.000 SH Sole 7400.000 INNOVO GROUP INC COM 457954600 10 15000.000 SH Sole 15000.000 INTUIT INC COM 461202103 1126 36910.000 SH Sole 36910.000 ISHARES MSCI EAFE INDEX FUND COM 464287465 2712 37040.000 SH Sole 37040.000 ISHARES MSCI EMERGING MKT IN COM 464287234 354 3100.000 SH Sole 3100.000 ISHARES MSCI JAPAN INDEX FD COM 464286848 261 18350.000 SH Sole 18350.000 J.C. PENNEY CO INC COM 708160106 1473 19045.000 SH Sole 19045.000 JOHNSON & JOHNSON COM 478160104 1394 21110.000 SH Sole 21110.000 KIMCO REALTY CORP COM 49446R109 234 5200.000 SH Sole 5200.000 KKR FINANCIAL CORP COM 482476306 343 12800.000 SH Sole 12800.000 LANDAUER INC COM 51476K103 320 6100.000 SH Sole 6100.000 LASALLE HOTEL PROPERTIES COM 517942108 243 5300.000 SH Sole 5300.000 MACQUARIE INFRASTRUCTURE CO COM 55607X108 404 11400.000 SH Sole 11400.000 MAGELLAN MIDSTREAM PARTNERS COM 559080106 293 7600.000 SH Sole 7600.000 MARTIN MIDSTREAM PARTNERS LP COM 573331105 266 8000.000 SH Sole 8000.000 MEDICAL PROPERTIES TRUST COM 58463J304 225 14700.000 SH Sole 14700.000 MERCK & CO. INC. COM 589331107 1733 39750.000 SH Sole 39750.000 MESABI TRUST COM 590672101 568 20500.000 SH Sole 20500.000 MONSANTO CO COM 61166W101 1540 29320.000 SH Sole 29320.000 MORGAN STANLEY COM 617446448 1796 22055.000 SH Sole 22055.000 NEWS CORP-CL A COM 65248E104 1368 63670.000 SH Sole 63670.000 NOKIA CORP-SPON ADR COM 654902204 1232 60620.000 SH Sole 60620.000 NOVARTIS AG-ADR COM 66987V109 1368 23815.000 SH Sole 23815.000 NVIDIA CORP COM 67066G104 1256 33950.000 SH Sole 33950.000 P G & E CORP COM 69331C108 1246 26330.000 SH Sole 26330.000

Voting Authority Value Shares/ Sh/ Put/ Invstmt Other -------------------------- Name of Issuer Title of Class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ------------------------------ -------------- --------- -------- ------------- --- ---- ------- -------- ------------ ------ ------ PEPSICO INC COM 713448108 1299 20760.000 SH Sole 20760.000 PERMIAN BASIN ROYALTY TRUST COM 714236106 429 26700.000 SH Sole 26700.000 PINNACLE WEST CAPITAL COM 723484101 365 7200.000 SH Sole 7200.000 PLAINS ALL AMER PIPELINE LP COM 726503105 307 6000.000 SH Sole 6000.000 PRUDENTIAL FINANCIAL INC COM 744320102 1596 18590.000 SH Sole 18590.000 QUESTAR CORP COM 748356102 353 4245.000 SH Sole 4245.000 RAYONIER INC COM 754907103 349 8500.000 SH Sole 8500.000 REALTY INCOME CORP COM 756109104 235 8500.000 SH Sole 8500.000 REDDY ICE HOLDINGS COM 75734R105 374 14500.000 SH Sole 14500.000 REDWOOD TRUST INC COM 758075402 232 4000.000 SH Sole 4000.000 SABINE ROYALTY TRUST COM 785688102 385 9100.000 SH Sole 9100.000 SATYAM COMPUTER SERVICES-ADR COM 804098101 1473 61370.000 SH Sole 61370.000 SIEMENS AG-SPONS ADR COM 826197501 1341 13610.000 SH Sole 13610.000 SUNCOR ENERGY INC COM 867229106 439 5560.000 SH Sole 5560.000 SUNOCO INC COM 86764P109 251 4020.000 SH Sole 4020.000 SUNOCO LOGISTICS PARTNERS LP COM 86764L108 303 6000.000 SH Sole 6000.000 TARRANT APPAREL GROUP COM 876289109 51 35000.000 SH Sole 35000.000 TEEKAY LNG PARTNERS LP COM MHY8564M1 310 9300.000 SH Sole 9300.000 TELEFONOS DE MEXICO-SP ADR L COM 879403780 1591 56305.000 SH Sole 56305.000 TOYOTA MOTOR CORP -SPON ADR COM 892331307 1620 12060.000 SH Sole 12060.000 TRANSOCEAN INC COM KYG900781 202 2500.000 SH Sole 2500.000 U-STORE-IT TRUST COM 91274F104 220 10700.000 SH Sole 10700.000 UNICREDITO ITALIANO SPA ORD COM t42324458 105 12000.000 SH Sole 12000.000 UNILEVER N V -NY SHARES COM 904784709 360 13200.000 SH Sole 13200.000 UNITED DOMINION REALTY TRUST COM 910197102 229 7200.000 SH Sole 7200.000 UNITED TECHNOLOGIES CORP COM 913017109 1624 25980.000 SH Sole 25980.000 UNITEDHEALTH GROUP INC COM 91324P102 458 8525.000 SH Sole 8525.000 US BANCORP COM 902973304 1570 43390.000 SH Sole 43390.000 VENTAS INC COM 92276F100 254 6000.000 SH Sole 6000.000 VORNADO REALTY TRUST COM 929042109 1583 13025.000 SH Sole 13025.000 WELLPOINT INC COM 94973V107 1076 13670.000 SH Sole 13670.000 WELLS FARGO & COMPANY COM 949746101 842 23680.000 SH Sole 23680.000 WET SEAL INC/THE-CLASS A COM 961840105 67 10000.000 SH Sole 10000.000 XCEL ENERGY INC COM 98389B100 355 15400.000 SH Sole 15400.000 YUKOS-SPONSORED ADR COM 98849W108 40 22200.000 SH Sole 22200.000 ZIMMER HOLDINGS INC COM 98956P102 1623 20705.000 SH Sole 20705.000 FMA EQUITY GROWTH LP 23901 20009.646966 SH Sole 20009.646966 FMA INCOME EQUITY FUND LP 21375 17120.633326 SH Sole 17120.633326 CAPT'L SERV NT DTD 3/17/99 DUE oa1115 0 100000.000 SH Sole 100000.000

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