13F-HR 1 drz3q03.txt FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2003 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: DePrince Race & Zollo, Inc. Address: 201 S. Orange Avenue, Suite 850 Orlando, Florida 32801 Form 13F File Number: 28-05268 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 submission. Person Signing this Report on Behalf of Reporting Manager: Name: Victor A. Zollo, Jr. Title: Principal Phone: 407-420-9903 Signature, Place and Date of Signing: /s/ Victor A. Zollo, Jr. _______________________________ Signature Orlando, Florida November 13, 2003 Report Type (Check only one.): XXX 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: 0 Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 184 Form 13F Information Table Value Total: 2,713,859 (x$1000) 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ABBOTT LABS COM COM 002824100 40,299.11 947,100 SH SOLE ACETO CORP COM COM 004446100 579.27 41,200 SH SOLE ADAMS RES & ENERGY INC COM NEW COM 006351308 198.99 19,800 SH SOLE ADVANTA CORP CL B CL B 007942204 10,702.83 1,001,200 SH SOLE AGILYSYS INC COM COM 00847J105 3,167.72 361,200 SH SOLE AIRGAS INC COM COM 009363102 1,057.32 59,400 SH SOLE ALCAN INC. COM 013716105 608.33 15,900 SH SOLE ALCOA INC COM 013817101 15,724.78 601,100 SH SOLE ALLTEL CORP COM COM 020039103 34,490.86 744,300 SH SOLE AMER ELEC PWR COM COM 025537101 25,788.00 859,600 SH SOLE AMERICAN CAPITAL STRAT COM COM 024937104 14,237.32 572,700 SH SOLE AMERICAN FINL RLTY TR COM COM 02607P305 8,154.03 578,300 SH SOLE AMERICAN MTG ACCEP CO SH BEN INTCOM 027568104 1,225.61 74,100 SH SOLE AMERIVEST PPTYS DEL COM COM 03071L101 940.55 144,700 SH SOLE ARKANSAS BEST CORP DEL COM COM 040790107 14,438.23 525,600 SH SOLE ARVINMERITOR INC COM COM 043353101 19,510.86 1,095,500 SH SOLE ASHFORD HOSPITALITY TR COM SHS COM 044103109 8,444.36 941,400 SH SOLE ASHLAND INC. COM 044204105 31,522.86 959,600 SH SOLE ASTORIA FINL CORP COM COM 046265104 15,069.93 487,700 SH SOLE BADGER METER INC COM COM 056525108 480.00 15,000 SH SOLE BAIRNCO CORP COM COM 057097107 333.86 47,900 SH SOLE BANDAG INC COM COM 059815100 3,632.72 107,700 SH SOLE BANK MUT CORP COM COM 063748107 5,026.08 118,400 SH SOLE BANK NEW YORK INC COM 064057102 30,970.74 1,063,921 SH SOLE BAXTER INTL INC COM COM 071813109 29,115.21 1,001,900 SH SOLE BELLSOUTH CORP COM COM 079860102 35,151.78 1,484,450 SH SOLE BEMIS INC COM COM 081437105 20,967.19 473,300 SH SOLE BOEING CO COM COM 097023105 15,427.90 449,400 SH SOLE BOISE CASCADE CORP COM 097383103 42,523.32 1,540,700 SH SOLE BOSTON ACOUSTICS INC COM 100534106 574.08 50,700 SH SOLE BOWATER INC COM COM 102183100 29,702.77 706,200 SH SOLE BRIDGE STR FINL INC COM COM 10805u109 298.38 21,700 SH SOLE BRUNSWICK CORP COM COM 117043109 12,275.04 478,000 SH SOLE BURLINGTON NRTHN COM 12189T104 32,198.71 1,115,300 SH SOLE BUTLER MFG CO DEL COM COM 123655102 469.37 30,900 SH SOLE CADMUS COMMUNICATION COM COM 127587103 475.59 42,200 SH SOLE CALLAWAY GOLF COM 131193104 18,164.28 1,272,900 SH SOLE CARAUSTAR INDS COM 140909102 7,934.71 920,500 SH SOLE CARBO CERAMICS INC COM COM 140781105 8,215.55 227,200 SH SOLE CHEVRONTEXACO CORP COM 166764100 36,472.72 510,465 SH SOLE CITIZENS SOUTH BKG CP COM COM 176682102 2,063.67 140,100 SH SOLE CITY BK LYNNWOOD WASH COM COM 17770A109 648.20 20,000 SH SOLE CLOROX CO DEL COM COM 189054109 34,792.40 758,500 SH SOLE COACHMEN INDS INC COM COM 189873102 695.57 59,400 SH SOLE COASTAL BANCORP INC COM COM 19041P105 15,676.56 493,750 SH SOLE COCA COLA BOTTLNG CONS COM COM 191098102 5,763.06 115,100 SH SOLE COHU INC COM COM 192576106 15,164.87 775,300 SH SOLE COLGATE-PALMOLIVE COM 194162103 32,455.32 580,700 SH SOLE COLLINS INDS INC COM COM 194858106 251.74 65,900 SH SOLE COMERICA COM 200340107 32,251.86 692,100 SH SOLE COMMERCE BANCSH COM 200525103 16,690.63 381,500 SH SOLE COMPUTER PROGRAMS&SYS COM COM 205306103 258.12 14,300 SH SOLE CONSOL ENERGY INC COM COM 20854P109 10,146.54 546,100 SH SOLE COOPER INDS COM CL A CL A G24182100 15,825.89 329,500 SH SOLE COOPER TIRE & RUBR CO COM COM 216831107 12,156.42 766,000 SH SOLE COORS ADOLPH CO CL B CL B 217016104 13,418.50 249,600 SH SOLE CORN PRODS INTL INC COM COM 219023108 1,789.97 56,200 SH SOLE CPI CORP COM COM 125902106 13,638.72 741,235 SH SOLE CROMPTON CORP COM COM 227116100 7,258.43 1,249,300 SH SOLE CURTISS WRIGHT CORP COM COM 231561101 8,926.37 126,400 SH SOLE DEB SHOPS INC COM COM 242728103 1,710.94 93,750 SH SOLE DIAMOND OFFSHORE COM 25271C102 26,126.89 1,367,900 SH SOLE DOVER DWNS GMNG & ENT COM COM 260095104 964.21 117,300 SH SOLE DOW CHEM CO COM COM 260543103 31,253.86 960,475 SH SOLE DOW JONES & CO INC COM 260561105 28,111.70 593,700 SH SOLE EASTERN CO COM 276317104 1,833.23 125,050 SH SOLE EATON VANCE CORP COM NON VTG COM 278265103 24,239.52 724,000 SH SOLE EQTY INNS INC 8.75% SER B PFD PFD 294703301 2,949.49 114,100 SH SOLE FERRO CORP COM COM 315405100 17,190.53 804,800 SH SOLE FIRST NIAGARA FINL GRP COM COM 33582V108 6,934.22 459,524 SH SOLE FIRSTENERGY CORP COM COM 337932107 26,461.05 829,500 SH SOLE FIRSTFED AMER BANCORP COM COM 337929103 3,281.85 148,500 SH SOLE FLEETBOSTON FINL CORP COM 339030108 33,805.96 1,121,259 SH SOLE FOOT LOCKER INC COM COM 344849104 16,891.74 1,042,700 SH SOLE FREQUENCY ELECTRS INC COM COM 358010106 9,985.22 1,018,900 SH SOLE FRIEDMAN BILLINGS NEW CL A CL A 358434108 36,413.72 2,110,940 SH SOLE FRONTIER OIL CORP COM COM 35914p105 14,988.12 1,019,600 SH SOLE GATX CORP COM COM 361448103 16,332.03 772,200 SH SOLE GREIF INC CL A CL A 397624107 803.40 30,900 SH SOLE HARRIS CORP DEL COM COM 413875105 17,304.47 483,500 SH SOLE HEINZ H J CO COM COM 423074103 38,172.49 1,113,550 SH SOLE HELIX TECHNOLOGY CORP COM 423319102 44,844.41 2,741,101 SH SOLE HIBERNIA CORP CL A CL A 428656102 16,133.04 796,300 SH SOLE HOLLY CORP COM PAR $0.01 COM 435758305 371.70 15,000 SH SOLE HONEYWELL INC COM COM 438516106 36,335.99 1,378,975 SH SOLE IMPERIAL CHEM INDS COM 452704505 10,374.05 930,408 SH SOLE INT'L FLAV&FRA COM 459506101 21,488.77 649,600 SH SOLE INTEGRA BK CORP COM COM 45814P105 2,531.88 131,800 SH SOLE INTER PARFUMS INC COM COM 458334109 1,444.65 144,900 SH SOLE INTERMET CORP COM 45881K104 14,856.07 3,454,900 SH SOLE INTERNATIONAL ALUM CP COM COM 458884103 850.82 39,100 SH SOLE INTL PAPER CO COM COM 460146103 32,546.58 834,100 SH SOLE KAYDON CORP COM COM 486587108 20,449.64 861,400 SH SOLE KEITHLEY INSTRS INC COM COM 487584104 4,421.88 312,500 SH SOLE KELLY SVCS INC CL A CL A 488152208 6,135.30 246,200 SH SOLE KENNAMETAL INC COM COM 489170100 18,827.16 503,400 SH SOLE KERR MCGEE CORP COM COM 492386107 38,082.38 853,100 SH SOLE KEYCORP NEW COM COM 493267108 31,890.90 1,247,200 SH SOLE KIMBERLY CLARK CORP COM 494368103 36,811.84 717,300 SH SOLE KRAFT FOODS INC CL A CL A 50075n104 32,948.55 1,116,900 SH SOLE LABRANCHE & CO INC COM COM 505447102 10,637.56 728,600 SH SOLE LIMITED BRANDS INC COM 532716107 23,980.19 1,590,198 SH SOLE LINCOLN NATIONAL COM 534187109 23,885.04 675,100 SH SOLE LSI INDS INC COM COM 50216C108 8,701.28 617,550 SH SOLE LUBRIZOL CORP COM COM 549271104 7,885.35 243,000 SH SOLE LUFKIN INDS INC COM COM 549764108 1,696.80 70,700 SH SOLE LYONDELL CHEMICAL COM 552078107 10,316.02 807,200 SH SOLE MARINE PRODS CORP COM COM 568427108 631.49 42,900 SH SOLE MAY DEPT. STORE COM 577778103 22,006.29 893,475 SH SOLE MEADWESTVACO CORP COM 583334107 30,174.15 1,183,300 SH SOLE MET PRO CORP COM COM 590876306 1,377.35 84,500 SH SOLE METHODE ELECTRS INC CL A CL A 591520200 2,716.47 230,600 SH SOLE MFA MORTGAGE INVESTMENTS INC COM 55272X102 13,177.58 1,384,200 SH SOLE MOCON INC COM 607494101 898.51 112,300 SH SOLE MOTOROLA INC COM COM 620076109 22,789.85 1,907,100 SH SOLE NATIONAL COMMERCE COM 63545P104 32,518.16 1,307,000 SH SOLE NATURES SUNSHINE PRODS COM COM 639027101 390.93 47,100 SH SOLE NEW CENTURY FINANCIAL COM COM 64352D101 6,108.06 215,300 SH SOLE NEWELL CO COM COM 651229106 32,509.33 1,500,200 SH SOLE NISOURCE INC COM COM 65473P105 16,573.41 829,500 SH SOLE NN INC COM 629337106 50,482.57 3,925,550 SH SOLE NYMAGIC INC COM COM 629484106 255.70 11,400 SH SOLE OSHKOSH B GOSH INC CL A CL A 688222207 1,855.85 72,100 SH SOLE PARK ELECTROCHEMICAL COM 700416209 50,365.09 2,213,850 SH SOLE PARKER HANNIFIN CORP COM 701094104 35,120.79 785,700 SH SOLE PENFORD CORP COM COM 707051108 659.10 50,700 SH SOLE PENN ENGR & MFG CORP NON VTG COM 707389300 687.29 44,600 SH SOLE PENNEY J C INC COM COM 708160106 22,180.99 1,037,950 SH SOLE PEPCO HOLDINGS COM 713291102 17,193.60 995,000 SH SOLE PERKINELMER INC COM COM 714046109 11,312.56 738,900 SH SOLE PFIZER INC COM COM 717081103 27,682.26 911,200 SH SOLE PLAN VISTA CORP COM 72701P105 17,271.60 5,155,700 SH SOLE PLAN VISTA RESTRICTED COM 72701P105 1,854.23 553,500 SH SOLE PNC BK CORP COM COM 693475105 33,325.03 700,400 SH SOLE POPE & TALBOT INC COM 732827100 25,810.45 1,707,040 SH SOLE PROVIDENT FINL SVCS COM COM 74386t105 6,046.90 315,600 SH SOLE PSYCHEMEDICS CORP COM COM 744375205 979.69 121,550 SH SOLE PXRE Group LTD COM G73018106 24,243.27 1,350,600 SH SOLE QUAKER CHEM CORP COM COM 747316107 11,945.17 513,550 SH SOLE RAYONIER INC COM COM 754907103 9,711.52 239,200 SH SOLE RICHARDSON ELECTRS COM 763165107 21,460.76 2,024,600 SH SOLE ROHM & HAAS COM 775371107 34,895.04 1,043,200 SH SOLE RPC INC COM COM 749660106 3,182.00 318,200 SH SOLE RYDER SYS INC COM COM 783549108 13,320.08 454,300 SH SOLE SBC COMMUNICATIONS COM 78387G103 35,643.23 1,601,943 SH SOLE SCHERING PLOUGH CORP COM 806605101 21,871.41 1,435,132 SH SOLE SOUND FED BANCORP INC COM COM 83607V104 309.47 20,700 SH SOLE SPAN AMER MED SYS INC COM COM 846396109 659.68 70,705 SH SOLE SPARTAN MTRS INC COM COM 846819100 1,663.47 181,800 SH SOLE SPARTECH CORP COM NEW COM 847220209 8,566.86 402,200 SH SOLE ST PAUL COS INC COM COM 792860108 32,082.79 866,400 SH SOLE STANLEY WKS COM COM 854616109 37,623.24 1,274,500 SH SOLE STEEL TECHNOLOGIES INC COM COM 858147101 950.21 76,200 SH SOLE STEWART&STEVENSON SVCS COM COM 860342104 9,031.53 601,300 SH SOLE SUN HYDRAULICS CORP COM COM 866942105 787.11 112,300 SH SOLE SUNTRUST BKS INC COM COM 867914103 28,815.51 477,315 SH SOLE SYPRIS SOLUTIONS INC COM COM 871655106 2,069.11 150,700 SH SOLE TASTY BAKING CO COM COM 876553306 6,384.46 642,300 SH SOLE TB WOODS CORP COM COM 872226105 926.79 113,300 SH SOLE TECUMSEH PRODS CO CL A CL A 878895200 11,987.70 321,300 SH SOLE TEEKAY SHIPPING CORP COM Y8564W103 39,960.81 944,700 SH SOLE TEEKAY SHIPPG MARS IS PEPS 7.25%PFD Y8564W111 1,887.87 67,400 SH SOLE TEXTRON INC COM COM 883203101 20,064.27 508,600 SH SOLE TIDEWATER INC COM COM 886423102 25,037.01 884,700 SH SOLE TITAN INTL INC ILL COM COM 88830M102 168.09 86,200 SH SOLE TOPPS INC COM COM 890786106 911.63 93,500 SH SOLE TRANSTECHNOLOGY CORP COM 893889105 20,468.28 2,312,800 SH SOLE TREDEGAR CORP COM COM 894650100 12,047.53 800,500 SH SOLE TSAKOS ENERGY NAVIGATN SHS COM G9108L108 25,582.70 1,789,000 SH SOLE TSR INC COM COM 872885108 1,184.21 165,600 SH SOLE TWIN DISC INC COM COM 901476101 1,014.26 61,100 SH SOLE UNITED GUARDIAN INC COM COM 10571108 1,030.95 130,500 SH SOLE UNITED INDL CORP COM COM 91067110 318.00 20,000 SH SOLE UNOCAL CORP COM 915289102 37,095.89 1,176,900 SH SOLE USF CORP COM 91729Q101 12,506.48 395,900 SH SOLE VERIZON COMM COM 92343v104 38,630.88 1,190,841 SH SOLE VINTAGE PETE INC COM COM 927460105 9,509.12 874,000 SH SOLE VULCAN MATERIALS COM 929160109 19,667.65 492,800 SH SOLE WASHINGTON FED INC COM COM 938824109 4,557.17 180,840 SH SOLE WELLS FINL CORP COM COM 949759104 1,195.72 44,500 SH SOLE WINSTON HOTELS INC COM COM 97563A102 1,887.34 207,400 SH SOLE WOODHEAD INDS INC COM COM 979438108 1,530.59 101,700 SH SOLE WORTHINGTON INDS INC COM COM 981811102 2,159.06 171,900 SH SOLE WSFS FINANCIAL COM 929328102 1,503.68 35,700 SH SOLE