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, 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: 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 05/14/07 [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: 413 Form 13F Information Table Value Total: $8,674,718 (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 1048 22279 DEFINED 01 02 03 20700 0 1579 D AT&T INC COM 00206R102 5315 134787 DEFINED 01 02 03 114809 0 19978 D ABBOTT LABORATORIES COM 002824100 5719 102485 DEFINED 01 02 03 80976 0 21509 D ADESA INCORPORATED COM 00686U104 26128 945657 DEFINED 01 02 03 945657 0 0 D AETNA INC NEW COM 00817Y108 652 14895 DEFINED 01 02 03 2855 0 12040 D AFFILIATED MANAGERS COM 008252108 7486 69095 DEFINED 01 02 03 68895 0 200 D ALCOA INC COM 013817101 806 23774 DEFINED 01 02 19451 0 4323 D ALEXANDRIA REAL ESTATE COM 015271109 6309 62863 DEFINED 01 03 62863 0 0 D ALLERGAN INC COM 018490102 407 3672 DEFINED 01 02 03 3672 0 0 D ALLIANCEBERNSTEIN COM 01881G106 323 3655 DEFINED 01 02 3655 0 0 D ALLIED CAPITAL COM 01903Q108 586 20338 DEFINED 01 02 9910 0 10428 D ALLSTATE CORP COM 020002101 1986 33064 DEFINED 01 02 03 32264 0 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651229106 424 13650 DEFINED 01 02 2253 0 11397 D NOKIA CORPORATION COM 654902204 906 39541 DEFINED 01 02 13430 0 26111 D NORDSTROM INC COM 655664100 1105 20878 DEFINED 01 02 03 16947 0 3931 D NORFOLK SOUTHERN CORP COM 655844108 7816 154458 DEFINED 01 02 03 154278 0 180 D NORTHERN TRUST CORP COM 665859104 376 6248 DEFINED 01 02 6248 0 0 D NORTHWESTERN CORPORATION COM 668074305 21693 612271 DEFINED 01 02 03 612271 0 0 D NOVARTIS AG COM 66987V109 11544 211317 DEFINED 01 02 03 202524 0 8793 D OGE ENERGY CORP COM 670837103 242 6227 DEFINED 01 02 6227 0 0 D NUVEEN TAX ADVANTAGED COM 67090H102 226 8406 DEFINED 01 7 0 8399 D OCCIDENTAL PETRO CORP COM 674599105 1185 24035 DEFINED 01 02 24035 0 0 D ONEOK PARTNERS COM 68268N103 496 7341 DEFINED 01 02 7341 0 0 D ORACLE CORP COM 68389X105 625 34500 DEFINED 01 02 03 18809 0 15691 D O REILLY AUTOMOTIVE INC COM 686091109 1059 32006 DEFINED 01 296 0 31710 D ORMAT TECHNOLOGIES INC COM 686688102 5245 125000 DEFINED 01 125000 0 0 D PNC FINANCIAL SERVICES COM 693475105 531 7374 DEFINED 01 02 6974 0 400 D PPL CORP COM 69351T106 258 6303 DEFINED 01 02 5403 0 900 D PATTERSON COMPANIES INC COM 703395103 13385 377154 DEFINED 02 03 377154 0 0 D PAYCHEX INC COM 704326107 6230 164518 DEFINED 01 02 03 159500 0 5018 D PEABODY ENERGY CORP COM 704549104 306 7594 DEFINED 01 02 03 6669 0 925 D PENNEY J C COMPANY INC COM 708160106 1793 21827 DEFINED 01 02 03 21727 0 100 D PEPSI BOTTLING GROUP INC COM 713409100 221 6935 DEFINED 01 2 0 6933 D PEPSICO INC COM 713448108 71990 1132632 DEFINED 01 02 03 1117048 0 15584 D PFIZER INCORPORATED COM 717081103 60108 2379575 DEFINED 01 02 03 2343825 0 35750 D PIEDMONT NATURAL GAS COM 720186105 6349 240671 DEFINED 01 02 03 240671 0 0 D PITNEY BOWES INC COM 724479100 210 4623 DEFINED 01 02 4423 0 200 D PLUM CREEK TIMBER COM 729251108 17401 441427 DEFINED 01 03 441427 0 0 D POLARIS INDUSTRIES INC COM 731068102 6329 131909 DEFINED 01 03 131909 0 0 D POWERSHARES EXCHANGE COM 73935X575 271 14477 DEFINED 01 02 601 0 13876 D POWERSHARES EXCHANGE COM 73935X625 273 13000 DEFINED 01 0 0 13000 D POWERSHARES EXCHANGE COM 73935X856 516 28739 DEFINED 01 0 0 28739 D PRAXAIR INC COM 74005P104 6639 105456 DEFINED 01 02 03 105085 0 371 D PROCTER & GAMBLE COMPANY COM 742718109 29667 469706 DEFINED 01 02 03 446672 0 23034 D PROGRESS ENERGY INC COM 743263105 333 6600 DEFINED 01 02 03 6100 0 500 D PROSHARES TRUST COM 74347R883 604 10360 DEFINED 01 0 0 10360 D PRUDENTIAL FINANCIAL INC COM 744320102 2495 27637 DEFINED 01 02 03 23084 0 4553 D QUALCOMM INC COM 747525103 247 5781 DEFINED 01 02 03 4481 0 1300 D QUEST DIAGNOSTICS INC COM 74834L100 17875 358436 DEFINED 01 03 358216 0 220 D RALCORP HOLDINGS INC NEW COM 751028101 1697 26386 DEFINED 01 02 206 0 26180 D RAYONIER INC COM 754907103 26178 608802 DEFINED 01 03 608802 0 0 D REALTY INCOME CORP COM 756109104 4108 145686 DEFINED 01 145686 0 0 D REGIONS FINANCIAL COM 7591EP100 595 16821 DEFINED 01 02 16221 0 600 D RESMED INC COM 761152107 1246 24728 DEFINED 01 0 0 24728 D ROBERT HALF INTL INC COM 770323103 241 6509 DEFINED 01 03 37 0 6472 D ROCKWELL AUTOMATION INC COM 773903109 1020 17030 DEFINED 01 02 03 16805 0 225 D ROCKWELL COLLINS INC DE COM 774341101 1490 22255 DEFINED 01 02 03 22255 0 0 D ROSS STORES INC COM 778296103 6897 200487 DEFINED 01 02 03 200487 0 0 D ROYAL BANK CANADA COM 780087102 356 7136 DEFINED 01 02 7136 0 0 D ROYAL DUTCH SHELL PLC COM 780259206 2232 33663 DEFINED 01 02 03 32473 0 1190 D RUBY TUESDAY INC COM 781182100 877 30656 DEFINED 01 1 0 30655 D SLM CORP COM 78442P106 1866 45631 DEFINED 01 02 11051 0 34581 D STANDARD & POORS COM 78462F103 71828 505832 DEFINED 01 03 504581 0 1251 D ST MARY LAND & COM 792228108 5347 145786 DEFINED 01 03 145786 0 0 D SANOFI AVENTIS COM 80105N105 201 4624 DEFINED 01 03 125 0 4499 D SARA LEE CORP COM 803111103 324 19157 DEFINED 01 02 03 19157 0 0 D SCANA CORP NEW COM 80589M102 7042 163128 DEFINED 01 02 03 157934 0 5194 D SCHERING PLOUGH CORP COM 806605101 1121 43960 DEFINED 01 02 27821 0 16138 D SCHLUMBERGER LTD COM 806857108 939 13589 DEFINED 01 02 03 8724 0 4865 D SCOTTS MIRACLE-GRO CO COM 810186106 5540 125819 DEFINED 01 02 03 125819 0 0 D SCRIPPS E W CO CL A NEW COM 811054204 2168 48519 DEFINED 01 02 43403 0 5116 D SECTOR SPDR TR SHS BEN COM 81369Y100 3745 98429 DEFINED 01 02 03 98429 0 0 D SECTOR SPDR TR SHS BEN COM 81369Y209 238819 7097146 DEFINED 01 02 03 7097146 0 0 D SECTOR SPDR TR SHS BEN COM 81369Y308 399956 15007735 DEFINED 01 02 03 15006710 0 1025 D SECTOR SPDR TR SBI COM 81369Y407 170109 4473016 DEFINED 01 02 03 4472776 0 240 D SECTOR SPDR TR SBI COM 81369Y506 243853 4045342 DEFINED 01 02 03 4044833 0 509 D SECTOR SPDR TR SBI COM 81369Y605 417109 11706675 DEFINED 01 02 03 11705875 0 800 D SECTOR SPDR TR SBI COM 81369Y704 314726 8853039 DEFINED 01 02 03 8852814 0 225 D SECTOR SPDR TR SBI COM 81369Y803 350743 15040450 DEFINED 01 02 03 15040450 0 0 D SECTOR SPDR TR SBI COM 81369Y886 5556 139939 DEFINED 01 02 139171 0 768 D SIGMA ALDRICH CORP COM 826552101 32430 781072 DEFINED 01 02 03 781072 0 0 D SIRIUS SATELLITE RADIO COM 82966U103 66 20535 DEFINED 01 1 0 20534 D SKYWEST INC COM 830879102 260 9708 DEFINED 01 0 0 9708 D SMITH & NEPHEW PLC NEW COM 83175M205 17842 281064 DEFINED 01 02 03 281064 0 0 D SNAP ON INC COM 833034101 17491 363629 DEFINED 01 02 03 363629 0 0 D SOURCE CAPITAL INC COM 836144105 1308 19676 DEFINED 01 03 19676 0 0 D SOUTH JERSEY IND INC COM 838518108 383 10072 DEFINED 01 02 03 9256 0 816 D SOUTHERN COMPANY COM 842587107 22697 619284 DEFINED 01 02 03 619179 0 105 D SPRINT NEXTEL CORP COM 852061100 598 31559 DEFINED 01 02 03 18218 0 13341 D STAPLES INC COM 855030102 408 15794 DEFINED 01 02 1336 0 14458 D STATE STREET CORP COM 857477103 7249 111947 DEFINED 01 02 03 100922 0 11025 D STEEL DYNAMICS INC COM 858119100 357 8274 DEFINED 01 02 579 0 7695 D STORA ENSO CORP COM 86210M106 590 34143 DEFINED 01 02 34143 0 0 D STREETTRACKS GOLD TRUST COM 863307104 586 8916 DEFINED 01 02 1000 0 7916 D STREETTRACKS SERIES TR COM 86330E604 13242 146403 DEFINED 01 03 146403 0 0 D STRYKER CORP COM 863667101 2640 39806 DEFINED 01 02 03 2836 0 36970 D SYSCO CORPORATION COM 871829107 8093 239231 DEFINED 01 02 03 223134 0 16097 D TCF FINANCIAL CORP COM 872275102 47832 1814565 DEFINED 01 02 03 1805649 0 8916 D TEPPCO PRTNRS UT INT COM 872384102 236 5308 DEFINED 01 02 4977 0 331 D TARGET CORP COM 87612E106 13683 230901 DEFINED 01 02 03 226058 0 4843 D TEREX CORP NEW COM 880779103 268 3735 DEFINED 01 0 0 3735 D TEXAS INSTRUMENTS INC COM 882508104 1277 42417 DEFINED 01 02 03 24572 0 17845 D 3M COMPANY COM 88579Y101 44101 577016 DEFINED 01 02 03 574230 0 2786 D TIDEWATER INC COM 886423102 374 6380 DEFINED 01 02 1986 0 4394 D TIME WARNER INC NEW COM 887317105 310 15716 DEFINED 01 02 03 7316 0 8400 D TOYOTA MOTOR CORP COM 892331307 202 1580 DEFINED 01 02 655 0 925 D TRANSCANADA CORP COM 89353D107 366 11001 DEFINED 01 02 11001 0 0 D TRIBUNE CO NEW 10/83 COM 896047107 1440 44840 DEFINED 01 02 44840 0 0 D TYCO INTERNATIONAL COM 902124106 19880 630102 DEFINED 01 02 03 630002 0 100 D U S BANCORP DE NEW COM 902973304 1728 49425 DEFINED 01 02 03 42791 0 6634 D UNILEVER PLC COM 904767704 296 9853 DEFINED 01 1 0 9852 D UNION PACIFIC CORP COM 907818108 992 9772 DEFINED 01 02 9772 0 0 D UNITED PARCEL SERVICE COM 911312106 247 3525 DEFINED 01 02 03 3055 0 470 D UNITED TECHNOLOGIES CORP COM 913017109 11945 183767 DEFINED 01 02 03 176799 0 6968 D UNITEDHEALTH GROUP INC COM 91324P102 1783 33659 DEFINED 01 02 03 4354 0 29305 D VANGUARD SECTOR INDEX COM 92204A108 4009 65610 DEFINED 03 65610 0 0 D VANGUARD WORLD FUNDS COM 92204A207 13061 198952 DEFINED 01 03 198952 0 0 D VANGUARD WORLD FUNDS COM 92204A306 11004 124818 DEFINED 01 03 124818 0 0 D VANGUARD WORLD FUNDS COM 92204A405 5895 92915 DEFINED 01 03 92915 0 0 D VANGUARD WORLD FUNDS COM 92204A603 12440 186228 DEFINED 01 03 186228 0 0 D VANGUARD WORLD FUNDS COM 92204A702 9017 172146 DEFINED 03 172146 0 0 D VANGUARD WORLD FUNDS COM 92204A876 650 7801 DEFINED 01 03 7801 0 0 D VARIAN MEDICAL SYSTEMS COM 92220P105 4489 94125 DEFINED 01 02 94125 0 0 D VECTREN CORP COM 92240G101 16292 569659 DEFINED 01 02 03 569659 0 0 D VANGUARD INDEX FUNDS COM 922908553 2615 32953 DEFINED 01 03 32812 0 141 D VERASUN ENERGY CORP COM 92336G106 215 10836 DEFINED 01 0 0 10836 D VERIZON COMMUNICATIONS COM 92343V104 3678 96982 DEFINED 01 02 03 85516 0 11466 D WACHOVIA CORP NEW COM 929903102 4554 82729 DEFINED 01 02 03 69281 0 13448 D WAL-MART STORES INC COM 931142103 51306 1092779 DEFINED 01 02 03 1062553 0 30226 D WALGREEN COMPANY COM 931422109 8029 174961 DEFINED 01 02 03 119054 0 55907 D WASHINGTON MUTUAL INC COM 939322103 314 7773 DEFINED 01 02 03 5341 0 2432 D WASTE MANAGEMENT INC DEL COM 94106L109 308 8952 DEFINED 01 02 03 2507 0 6445 D WATERS CORP COM 941848103 32592 561927 DEFINED 02 03 561927 0 0 D WEIGHT WATCHERS COM 948626106 18328 397667 DEFINED 01 02 03 397667 0 0 D WELLPOINT INC COM 94973V107 1948 24020 DEFINED 01 02 03 501 0 23519 D WELLS FARGO & CO NEW COM 949746101 54352 1578636 DEFINED 01 02 03 1549742 0 28894 D WESCO FINANCIAL CORP COM 950817106 4605 10011 DEFINED 01 03 10011 0 0 D WESTAMERICA COM 957090103 19138 397309 DEFINED 01 02 03 397309 0 0 D WESTERN UNION COMPANY COM 959802109 39755 1811167 DEFINED 01 02 03 1809567 0 1600 D WHOLE FOODS MARKET INC COM 966837106 217 4833 DEFINED 01 03 45 0 4788 D WILEY JOHN & SONS CL A COM 968223206 10005 264962 DEFINED 01 02 03 264962 0 0 D WILMINGTON TRUST CORP COM 971807102 851 20178 DEFINED 01 02 7239 0 12939 D WYETH COM 983024100 3815 76257 DEFINED 01 02 03 74773 0 1484 D YM BIOSCIENCES INC COM 984238105 54 27695 DEFINED 01 0 0 27695 D ZIMMER HOLDINGS INC COM 98956P102 858 10043 DEFINED 01 02 03 9668 0 375 D ENDURANCE SPECIALTY COM G30397106 4298 120248 DEFINED 01 03 120248 0 0 D INGERSOLL RAND COMPANY COM G4776G101 25197 580983 DEFINED 01 02 03 580983 0 0 D NABORS INDUSTRIES LTD COM G6359F103 286 9653 DEFINED 01 0 0 9653 D STEWART W P & CO LTD COM G84922106 8900 883765 DEFINED 01 02 03 883765 0 0 D TRANSOCEAN INC COM G90078109 268 3277 DEFINED 01 02 03 1983 0 1294 D WHITE MOUNTAINS COM G9618E107 25189 44464 DEFINED 01 02 03 44464 0 0 D WILLIS GROUP HOLDINGS COM G96655108 6823 172373 DEFINED 01 02 03 172373 0 0 S REPORT SUMMARY 413 DATA RECORDS 8674718 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED