FINANCIAL DISCLOSURE REPORT FOR CALENDAR YEAR 2010

1. Person Reporting (last name, first, middle initial) LOKEN, JAMES B.

4. Title (Article 111 judges indicate active or senior status; magistrate judges indicate full- or part-time)
] 2. Court or Organization

Report Required by the Ethics in Government Act of 1978 (5 U.S.C. app. 101-111)

3. Date of Report 05/15/2011 6. Reporting Period 01/01/2010 to 12/31/2010

EIGHTH CIRCUIT
5a. Report Type (check appropriate type) Nomination, [] Initial Date [] Annual [] Final

CIRCUIT JUDGE (Active)

5b. [] Amended Report

7. Chambers or Office Address U.S. Courthouse, Suite 11W 300 South Fourth Street Minneapolis, MN 55415

8. On the basis of the information contained in this Report and any modifications pertaining thereto, it is, in my opinion, in compliance with applicable laws and regulations.

Reviewing Officer

Date

IMPORTANT NOTES: The instructions accompanying this form must be followea~ Complete all parts,
checking the NONE box for each part where you have no reportable information. Sign on last pag~

I. POSITIONS. CReponZ, g ~.a~via.at o.~y; se, pp. 9-13 of fillng instructions.)

~ NONE (No reportable positions.)
POSITION
1. Past President 2. 3. 4. 5. Member

NAME OF ORGANIZATION/ENTITY
Federal Bar Association, Minnesota Chapter American Law Institute

II. AGREEMENTS. mepom.g ~.d~v~aa~l o.ly; ~ ~. 14-16 of filing instruction~)

~] NONE (No reportable agreements.)
DATE

PARTIES AND TERMS

Loken, James B.

FINANCIAL DISCLOSURE REPORT Page 2 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/15/2011

III. NON-INVESTMENT INCOME. tRepo.l.g individual andspouse; seepp. 17-24 of filing instructions.)
A. Filers Non-Investment Income ~] NONE (No reportable non-investment income.) DATE SOURCE AND TYPE

INCOME
(yours, not spouses)

2. 3.

4.

B. Spouses Non-Investment Income - lf you were married during any portion of the reporting year, complete this section.
(Dollar amount not required except for honoraria.)

NONE (No reportable non-investment income.)

DATE

SOURCE AND TYPE

2. 3. 4.

IV. REIMBURSEMENTS -,ransportation, lodging, food, entertainment

(Includes those to spouse and dependent children; see pp. 25-27 offiling instructions.)

NONE (No reportable reimbursements.) SOURCE

1. 2. 3. 4. 5.

DATES_

LOCATION

PURPOSE

ITEMS PAID OR PROVIDED

FINANCIAL DISCLOSURE REPORT Page 3 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/I 5/2011

V. GIFTS. (includes those to spouse ~nd d~endcnt children; see pp. 28-31 of filing instructions.)
NONE (No reportable gifts.)
SOURCE 1. 2. 3. 4. 5. DESCRIPTION

VALUE

VI. LIABILITIES. (Includes those of spouse and dependent children; see pp. 32-33 of filing instructlong)
NONE (No reportable liabilities.) CREDITOR
1. 2. 3. 4. 5.

DESCRIPTION

VALUECODE

FINANCIAL DISCLOSURE REPORT Page 4 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/15/2011

VII. INVESTMENTS and TRUSTS -ineo,~e, value, transactions aneludes those of spouse and dependent children; see pp. 34-60 of filing instructions.)
NONE (No reportable income, assets, or transactions.)
Descdptinn of Assets : (ineiuding trast assets) Place "(X)" after each asset exempt from prior disclosure Income during reporting period (1) (2) Amount Type (e.g., Code l div., rent, (A-H) or int.) Gross value at end of reporting period (l) (2) Value Code 2 (J-P) Value Method Code 3 Transactions during reporting period

(l) Type (e.g., buy, sell, redemption)

(2) (3) (4) Date Value Gain mm/dd/yy Code 2 Code 1 (J-P) (A-H)

(5)
Identity of buyer/seller (if private

(Q-W)
1. 2. 3. STOCKS (All Common) Zimmer Holdings, Inc. Target Corp B C B A C Dividend Dividend Dividend Dividend Dividend None L M K J L T T
T T T

4. Emerson Electric Exxon Corp. 6. 7. 8. 9. 10. Wells Fargo & Co. XCel Energy, Inc. FSI International, Inc.

Sold Sold

(part)
(part) Sold

01/12/10 04/06/10 06118110 08/02/10 01/12/10 12/03/10 12/03/10 I 1/01/10

J J J J

D D C C

(part) Sold 12. 13. 14. 15. 16. 17. Communications Systems Vishay Intertechnology Vishay Precision Group ADC Telecommunications B A Dividend Dividend None None K T T Digi International None Buy (addl) Sold (part) Sold Sold (part)

J J K K J K

Spinoff 07/07/10 (from line 15) Buy (addl) 01/12/10

(See Columns B I and IM) 2. Value Codes (See Columns CI and D3) 3. Value Method Codes (See Column C2)

F =$50,001 - $ 100,000 J =$15,000 or less N =$250,001 - $500,000 P3 =$25,000,001 - $50,000.000 Q =Appraisal U =Book Value

G =$100,001 - $1.000,0~0 K =$15,001 - $50,000 O =$500,001 - $1,000,000 R =Cost (Real Estale Only) V =Other

C =$2~501 - $5,000 H I =$ 1,000,0O I - $5,000,000 L =550.001 - $100.000 P I =$ | ,000.001 - $5,000,000 P4 =More than $50.000,000 S =Assessment W =Estimated

D =$5,001 - $15,000 H2 =More than $5,000,000 M =$ 100,001 - $250,000 P2 =$5,000,001 - $25,000,000 T =Cash Market

E =$15,001 - $50.000

FINANCIAL DISCLOSURE REPORT Page 5 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/I 5/201 !

VII. INVESTMENTS and TRUSTS - i.come, valuc, transactions (Includes those of spouse and dependent children; see pp. 34-60 of f!ling instructions.)

NONE (No reportable income, assets, or transactions.)

A. Deacfiptiou of Assets (including trust assets) Place "(X)" after each asset exempt from prior disclosure B. Income during reporting period (I) Amount Code l (A-H) (2) Type (e.g., div., rent, or int.) C. Gross value at end of reporting period (1) Value Code 2 (J-P) (2) Value Method Code 3 (Q-W)

Transactions during reporting period (l) Type (e.g., buy, sell, redemption) (2) (3) (4) Date Value Gain mm/dd/yy Code 2 Code 1 0 -P) (A-H)

(5)
Identity of buyer/seller (if private transaction) ::

18. 19. 20. 21. 22. 23. 124. 25. 26. 27. Microsoft Corp. Aetfium Inc. A A A A A Dividend None Dividend Dividend Dividend Dividend None J J J J K K T T T T T Amkor Technology Oracle Corp. Synovis Life Technologies, Inc. Cyberoptics Corp. A None Dividend None None K L K T T T

Buy (addl) Buy (addl) Sold Buy (addl)

04/06/10 05/20/10 12/10/10 04/06/10

K J M J C

Buy (addl) Buy (addl)

01/13/10 12/17/10

J J

28. Dow Chemical 29. Cemex S.A. Chesapeake Energy Valero Energy Metro Health Network

30. 31. 32. 33.

Buy (addl)

12/l 7/10 04/06/I 0 05/20/10 12/17/10

J K J J A D

(part) (part)
Sold

Sold

34. lntel Corp.

Dividend

Buy (addl)

] Inc0m~ Gain ~bdes: (See Columns BI and I)4) 2. Value Codes (See Columns C I and D3) 3. Value Method Codes (See Column C2)

A =$ I;000 or less F =$50,1)01 - $100,000 J =$15,000 or less N =$250,001 - $500,000 P3 =$25.000,001 - $50,000,000 Q =Appraisal U =Book Value

B :$~;o0~- $2,500 :
G =$ 100,001 - $ 1,000,000 K =$15,001 - $50,000 O =$ 500,001 - $ 1,000,000 R =Cost (Real Eslale Only) V Other

c ~$2,50{ =$5,000
H 1 =$1,000,001 - $5,000.000 L =$50,001 - $100,000 P 1 =$ 1,000,001 - $5,000,000 P4 =More than $50,000,000 S =Assessment W =Eslimated

D =$5,00~- $15,000
H2 =More than $5,000,000 M =$ 100,001 - $250,1)00 P2 =$5,000,001 - $25,000,000 T =Cash Market

E =$15,001 - $50,000

FINANCIAL DISCLOSURE REPORT Page 6 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/I 5/201 !

VII. INVESTMENTS and TRU STS -income, value, transactions (Includes those of spouse and dependent children; see pp. 34-60 of fding instructions.)
NONE (No reportable income, assets, or transactions.)
Description of Assets (including trust assets) Place "(X)" after e~ch asset exempt from prior disclosure Income during reporting period O) Amount Code 1 (A-H) (2) Type (e.g., div., rent, or int.) Gross value at end of reporting period (1) (2) Value Value Code 2 Method
(J-P) Code 3

Transactions during reporting period (1)

Type (e.g.,

(2)
Date

(3)
Value

(4)
Gain

buy, sell, redemption)

mm/dd/yy Code 2 Code I (J-P) (A-H)

(Q-W) 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. Fidelity Emerging Markets Fund A Dividend T Dragonwave Inc. MUTUAL FUNDS Columbia Acorn Fund Fidelity Equity Income Fund II Fidelity Mn. Tax Free Fund A B A Dividend Dividend Dividend M L J T T T Buy (addl) Sold (part) 09/30/I 0 K 11/09/I 0 K None J T LSI Corp. Medtox Scientific None None J K T T Best Buy Co. Bank of America Transocean Ltd. Cardiovascular Systems Clearfield Inc. Datalink Corp. A A Dividend Dividend None None None None K K J K T T T T T Sold Buy (addl) Buy Buy Buy Buy (addl) Buy Buy Buy (addl) Buy 12/03/10 K 06/I 8/10 i 2/03/10 l 1/01/10 12/03/10 12/17/10 08/02/I 0 12/03/10 12/17/10 12/27/10
J

(5) Identity of buyer/seller (if private uansaction)

J
J

J J
J

1. Income Gain Codes: (See Colunms BI and 2. Value Codes (See Columns C I and D3) 3. Value Method Codes (See Column C2) F =$50,1001 - $100,000 J =$15,000 or less N =$250,001 - $500,0~0 P3 =$25,000,001 - $50,000,000 Q =Appraisal U =Book Value G =$100,001 - $1,000,000 K =$15,001 - $50,000 O =$500,001 - $ 1,000,000 R =Cost (Real Estate Only) V =Other HI =$1,000,001 - $5,000,1)00 L =$50,001 - $100,000 P I =$ 1,000,001 - $5,000,000 P4 =More than $50,000,000 S =Assessment W =Eslimatcd

D=$5,001 - $15,000 H2 =Motet hanS5,000,000 M=$100,001 -$250,0~0 P2=$5,000,001- $25,000,000 T =Cash Market

E =$15,001 - $50,000

FINANCIAL DISCLOSURE REPORT Page 7 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/15/201 I

VII. INVESTMENTS and TRUSTS - income, value, transactions (Includes those of spouse and dependent children; see pp. 34-60 of filing instructions.)

NONE (No reportable income, assets, or transactions.)

A. Description of Assets (including ~-ust assgts) Place "(X)" after each asset exempt from prior disclosure B. Income during reporting period (I) (2) Amount Type (e.g., Code I div., r~nt, (A-H) or int.) C. Gross value at end of reporting p~io~ (l) (2) Value Value Code 2 Method (J-P) Code 3 (Q-W) J N N M M N L M L M M M K K J T T T T T T T T T T T T T T T
Sold 11/03/10 K

Transactions during reporting period (1) Type (e.g., buy, sell, redemption) (2) (4) Date Value Gain mm/dd/yy Code 2 Code I (J-P) (A-H) (5) Identity of buyer/seller (if private aansaction)

52. 53. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68.

Fidelity Japan Fund Fidelity Spar~n Muni Income Fund Fidelity Real Estate Fund Harbor International Fund Investment Co Amer Fund Mutual Beacon Fund New Perspective Fund Oppenheimer Capital Inc Fund Oppenheimer Strategic Income Vanguard Fixed Inc Fund S-T Vanguard Fixed Inc Fund GNMA Washington Mutual Fund Vanguard Windsor Fund Vanguard Hi-Yield Corp. Fund Vanguard Prime MM Fund Vanguard Short Term Corp. Fund Vanguard Long Term Tax Exempt Fund

A D D B C D A D C C D D A B A A B

Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend

(part)

Sold

11/03/10 K

A A

Sold (part)

11/03/10 K

E =$15,001 - $50,000 (See Columns BI and D4) 2. Value Codes (See Columns CI and D3) 3. Value Melhod Codes (See Column C2) F =$50,001 - $10~,000 J =$15,000 or less N =$250,001 - $50~,000 P3 =$25,000,001 - $50,000,000 Q =Appraisal O =Book Value G =$100,001 - $1,000,0~0 K =$15,0~ I - $50,000 O =$500,001 - $1,00~,000 R =Cosl (Real Estate Only) V =Other HI =$1,~0,001 - $5,000,00~ L =$50,001 - $100,000 PI =$1,000,001 - $5,000,000 P4 =More than $50,000,000 S =Assessment W =Estimated H2 =More than M =$ 100,001 - $250,000 P2 =$5,000,001 - $25,000,000 T =Cash Market

FINANCIAL DISCLOSURE REPORT Page 8 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/I 5/2011

VII. INVESTMENTS and TRUSTS - i,,eo,~e, vatue,t, onsactio.s a.cl~,tes those o/~po~e o~d de~,e,,#e~t children; see pp. 34-60 of filing instructions.)
NONE (No reportable income, assets, or transactions.)
A. Description of Assets (including trust asse~s) B. Income during reporting period (l) (2) C. Gross value at end of reporting period (1) (2) D. Transactions during reporting period (I) Type (e.g., buy, sell, redemption) (2) Date mm/dd/yy (3) Value Code 2 O-P) (4) Gain Code I (A-H)

Place "(X)" after each asset exempt from prior disclosure

Amount Code 1 (A-H)

Type (e.g., div., rent, or int.)

Value Code 2 (J-P)

Value Method Code 3

Identity of buyer/seller (if private transaction)

69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. 83. 84.

Vanguard Wellington Fund Vanguard Capital Value Fund Artisan International Fund Leuthold Core Inv. Fund Selected American Shares Fund Amer Century Equity Fund Chase Growth Fund Dreyfus Minn Muni Fund Icon Health Care Fund Matthews Pacific Tiger Fund Muhlenkamp Fund MISC. F&B Building Partnership RBS Prime Money Market Fund Schwab Advance Cash Reserve Fund Wells Fargo Bank

B A A B B C

Dividend Dividend Dividend Dividend Dividend Dividend None

K K M N M M L K L L L

T T T T T T T T T T T

B A A

Dividend Dividend Dividend None

None A A A Dividend Dividend Interest

J J K J

W T T T Sold (part)
11/03/10 L

(See Columns BI and IM) 2. Value Codes (See Columns C I and D3) 3. Value Method Codes (See Column C2)

F =$50,001 - $100,00(} J =$15,000 or less N =$250,001 - $500,000 P3 =$25,000,001 - $50,000,000 Q =Appraisal U =Book Value

G =$100,001 - $1,000,000 K =$15,001 - $50,000 O =$500,0~1 - $1,000,000 R =Cost (Real Estate Only) V =Other

HI =$1,000,001 - $5,000,000 L =$50,001 - $10~,000 PI =$1,000,001 - $5,000,000 P4 =More than $50,000,000 S =Assessment W =Eslimated

D =$5,001 - $15,000 H2 =More than $5,000,0~ M =$ 100,001 - $250,0~0 P2 =$5,000,001 - $25,000,000 T =Cash Market

E =$15,001 - $50,0~0

FINANCIAL DISCLOSURE REPORT Page 9 of 10

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/I 5/2011

VIII. ADDITIONAL INFORMATION OR EXPLANATIONS.

FINANCIAL DISCLOSURE REPORT Page 10 of 10 IX. CERTIFICATION.

Name of Person Reporting LOKEN, JAMES B.

Date of Report 05/15/2011

I certify that all information given above (including information pertaining to my spouse and minor or dependent children, if any) is accurate, true, and complete to the best of my knowledge and belief, and that any information not reported was withheld because it met applicable statutory provisions permitting non-disclosure. ! further certify that earned income from outside employment and honoraria and the acceptance of gifts which have been reported are in compliance with the provisions of 5 U.S.C. app. 501 et. seq., 5 U.S.C. 7353, and Judicial Conference regulations.

Signature: S/JAMES B. LOKEN

NOTE: ANY INDIVIDUAL WHO KNOWINGLY AND WILFULLY FALSIFIES OR FAILS TO FILE THIS REPORT MAY BE SUBJECT TO CIVIL AND CRIMINAL SANCTIONS (5 U.S.C. app. 104)

Committee on Financial Disclosure Administrative Office of the United States Courts Suite 2-301 One Columbus Circle, N.E. Washington, D.C. 20544