-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S4ocpGTdI407rUmpPIqLjoednuFpD8mK+HuWfhRlsbSzbQhTk6E51xJbNn0k35vR CjxMRlmGu+2j+0E8gqAijA== 0000950159-06-000768.txt : 20060515 0000950159-06-000768.hdr.sgml : 20060515 20060515150827 ACCESSION NUMBER: 0000950159-06-000768 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060331 FILED AS OF DATE: 20060515 DATE AS OF CHANGE: 20060515 EFFECTIVENESS DATE: 20060515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DREMAN VALUE MANAGEMENT L L C CENTRAL INDEX KEY: 0001055282 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-06700 FILM NUMBER: 06840166 BUSINESS ADDRESS: STREET 1: 10 EXCHANGE PLACE CITY: JERSEY CITY STATE: NJ ZIP: 07203 BUSINESS PHONE: 2017932000 MAIL ADDRESS: STREET 1: 10 EXCHANGE PLACE CITY: JERSEY CITY STATE: NJ ZIP: 07203 13F-HR 1 dreman13f.txt 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, 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: Dreman Value Management, L.L.C. Address: 520 East Cooper Ave., Suite 230-4 Aspen, CO 81611 Form 13F File Number: 28-6700 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: Marc Kramer Title: V.P. of Operations Phone: (201) 793-2000 Signature, Place, and Date of Signing: /s/ Lloyd Jagai Jersey City, New Jersey May 15, 2006 - ---------------- ------------------------ ------------- [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).)
Voting Authority Market Title of Value Investment Name of Issuer class CUSIP (x$1000) Quantity Discretion SOLE SHARED NONE - -------------------------------------------------------------------------------------------------------------------------- 3M Commonpany Common 88579Y101 247890 3275083 Sole 583200 344934 2346949 Aames Investment Corp. Common 00253G108 1302 229200 Sole 35500 55200 138500 Abbey National PLC 7.375% Pfd. Preferred 002920700 1527 58000 Sole 58000 ABN AMRO CAP VII (ABNA) - 6.08 Preferred 00372Q201 4790 200000 Sole 200000 Adeza Biomedical Corp Common 006864102 647 30600 Sole 6300 15700 8600 Advanta Corp Common 007942204 1308 35484 Sole 35484 Aeroflex Inc Common Common 007768104 19211 1399200 Sole 196900 90300 1112000 Affordable Resid (ARC) 8.25% P Preferred 008273203 4382 200000 Sole 200000 AGCO Corp. Common 001084102 3171 152900 Sole 152900 Air Prods & Chems Inc Common 009158106 1028 15300 Sole 15300 Alabama Power 5.3% Pfd. Preferred 010392561 1969 80000 Sole 80000 Alaska Commonm Systems Group Common 01167P101 5543 457000 Sole 107000 350000 Aleris International Inc. Common 014477103 32265 671200 Sole 117800 28200 525200 Allegheny Energy Inc. Common 017361106 16671 492500 Sole 42500 16600 433400 Alliant Techsystems Inc Common 018804104 205 2650 Sole 150 2500 Allied Healthcare Internationa Common 01923a109 5328 1098600 Sole 1098600 Allstate Common 020002101 2564 49195 Sole 1000 48195 Altria Group Inc Common 02209s103 1141138 16104112 Sole 4579270 1445528 10079314 AMCommonp Inc. Common 02342j101 2637 275000 Sole 275000 Ameren Corp. Common 023608102 7887 158300 Sole 158300 American Ecology Corp Common 025533407 9933 487400 Sole 487400 American Equity Investment Lif Common 025676206 1450 101106 Sole 101106 American Express Common 025816109 4574 87050 Sole 87050 American Home Mortage Inves Common 02660R107 5774 185000 Sole 185000 American International Group Common 026874107 303636 4594296 Sole 950104 503399 3140793 Americanwest Bancorporation Common 03058P109 6893 260400 Sole 260400 Ameriprise Financial Inc. Common 03076c106 909 20170 Sole 20170 Amerisafe Inc. Common 03071h100 8063 671900 Sole 671900 Amerus Group Co. 7.2500% Preferred 03072M702 18102 700000 Sole 700000 Ametek Inc. Common 031100100 223 4950 Sole 250 4700 Anadarko Petroleum Common 032511107 83550 827146 Sole 180978 221435 424733 Anixter International Inc. Common 035290105 29719 622000 Sole 103200 25000 493800 Annaly Mtg Mgmt Inc. Common 035710409 186 15300 Sole 3900 11400 Apache Corp Common Common 037411105 129781 1981070 Sole 396267 299297 1285506 Apollo Investment Corp. Common 03761u106 10098 567000 Sole 2900 564100 Applied Films Corp Common 038197109 4488 231000 Sole 231000 Applied Signal Technology Common 038237103 5146 259523 Sole 259523 Applix Inc Common 038316105 1266 165900 Sole 33500 85800 46600 Arc Energy Trust (Canadian) Common 001986108 3581 152700 Sole 152700 Arch Capital Group Ltd Common g0450a105 21944 380050 Sole 6550 13500 360000 Arch Capital Group Ltd. Pfd. S Preferred g0450A147 6113 240000 Sole 240000 Archer Daniels Midland Common 039483102 357 10600 Sole 600 10000 Argon St. Inc. Common 040149106 10565 315100 Sole 315100 Argonaut Group Inc. Common 040157109 1553 43676 Sole 43676 Aspen Insurance Holdings, Ltd. Common G05384105 9973 404400 Sole 9400 24600 370400 Asta Funding Common 046220109 2897 87100 Sole 87100 AT&T Inc Common 00206R102 30911 1143150 Sole 1143150 Atwood Oceanics Inc. Common 050095108 16828 166600 Sole 44000 4700 117900 Aviall Inc Common 05366B102 17280 453781 Sole 117281 28600 307900 Axis Capital Holdings 7.25 % P Preferred ep0168971 5453 218100 Sole 218100 Bally Technologies Common 05874B107 6771 398500 Sole 398500 Banco Santander 6.4100% Pfd. S Preferred 80281R300 2024 80000 Sole 80000 Bank Of America Corp Common 060505104 346166 7601337 Sole 1831084 779474 4990779 Bankatlantic Bancorp Cl A Common 065908501 7340 510100 Sole 510100 Bard (C.R.) Inc. Common 067383109 1678 24740 Sole 24740 Baxter International Inc Common 071813109 446 11500 Sole 11500 BB&T Corp. Common 054937107 290 7400 Sole 7400 Bear Stearns Cos Inc. Common 073902108 4555 32840 Sole 600 32240 Beckman Coulter Inc. Common 075811109 2958 54200 Sole 29700 13000 11500 Becton Dickinson & Co Common 075887109 82050 1332382 Sole 244665 147551 940166 Beverly Hills Bancorp Inc. Common 087866109 1171 110500 Sole 110500 Bonavista Energy Trust (Canadi Common 098536105 2954 92500 Sole 92500 Borders Group Inc. Common 099709107 223886 8870327 Sole 1698571 1034928 6136828 BP Amoco Plc - Spons Adr Common 055622104 2760 40029 Sole 38529 1500 BP Prudhoe Bay Royalty Trust Common 055630107 13332 188600 Sole 188600 Bristol Myers Squibb Common 110122108 155536 6320017 Sole 2084860 771588 3463569 British American Tobacco Common 110448107 14588 300161 Sole 94443 186628 19090 Bronco Drilling Co. Inc. Common 112211107 4603 175000 Sole 175000 Bucyrus International Inc. Cla Common 118759109 1008 20925 Sole 4125 10800 6000 Burlington Resources Inc Common 122014103 163873 1782989 Sole 317666 53953 1411370 Caci Intl Inc Cl A Common 127190304 9409 143100 Sole 143100 CAE Inc. Common 124765108 13388 1701100 Sole 200 1700900 Cameco Corp Common 13321L108 5965 165700 Sole 111900 35100 18700 Capital Lease Funding Common 140288101 6844 617100 Sole 617100 Cardinal Health Inc. Common 14149Y108 114706 1539260 Sole 292460 217130 1029670 Caremark RX Inc. Common 141705103 457 9300 Sole 600 8700 Carolina Gp - Loews Corp Common 540424207 24982 528500 Sole 522300 6200 Carpenter Technology Common 144285103 1843 19496 Sole 19496 Carrizo Oil & Gas Inc. Common 144577103 3875 149100 Sole 149100 Castle (A.M.) & Co. Common 148411101 1269 43000 Sole 8700 22400 11900 CastlePoint Holdings Ltd. 144A Common 148553100 12000 1200000 Sole 1200000 CBRE Realty Finance Common 12498B109 7500 500000 Sole 500000 Centennial Bank Holdings Inc. Common 151345303 11700 1000000 Sole 1000000 Century Aluminum Commonpany Common 156431108 13268 312556 Sole 70856 14700 227000 Century Casinos Inc. Common 156492100 2322 218200 Sole 206500 11700 Charles River Laboratories Common 159864107 20772 423750 Sole 3850 10000 409900 Chesapeake Energy Corp Common 165167107 413 13150 Sole 950 12200 Chevron Corporation Common 166764100 432552 7461617 Sole 1797961 849804 4813852 Chevy Chase PFD 8% Preferred 166779207 4954 189300 Sole 189300 Chicago Bridge & Iron Common 167250109 15395 641450 Sole 43350 12500 585600 Chiquita Brands Intl Common 170032809 12888 768500 Sole 93700 22900 651900 Chubb Corp Common 171232101 6019 63065 Sole 30400 135 32530 CIA Vale Do Rio Doce - ADR Common 204412209 231 4750 Sole 250 4500 Cincinnati Financial Corp. Common 172062101 291 6923 Sole 923 6000 CIT Group Common 125581108 53668 1002765 Sole 149000 853765 CIT Group Inc. 6.35% Series A Preferred 125581207 7843 310000 Sole 310000 Citigroup, Inc Common 172967101 92285 1953977 Sole 342615 228417 1382945 Clean Harbors Inc. Common 184496107 5456 183900 Sole 183900 C-Met Common 189758105 1800 18000 Sole 18000 CMS Energy Corp Common 125896100 3704 286000 Sole 286000 CNX Gas Corp - GDR 144A Common 12618H101 2506 96400 Sole 96400 Cohen & Steers REIT & PR Common 19247x100 3219 116000 Sole 116000 Commonfort Systems USA, Inc. Common 199908104 1376 101904 Sole 101904 Commonmercial Capital Bancorp Common 20162L105 13358 950054 Sole 185250 764804 Commonmercial Metals Co. Common 201723103 2172 40614 Sole 40614 Commonmscope Inc. Common 203372107 44830 1570219 Sole 305819 73100 1191300 ConocoPhillips Common 20825C104 851955 13490992 Sole 2873514 1312311 9305167 Consolidated Edison Inc. Common 209115104 7195 165400 Sole 165400 Cooper Cos. Inc Common Common 216648402 15831 293000 Sole 49000 11800 232200 Cooper Industries Ltd Common g24182100 239 2750 Sole 150 2600 Corillian Corp Common 218725109 2125 546400 Sole 20100 28100 498200 Covansys Corporation Common 22281W103 11502 669100 Sole 669100 Covanta Holding Corporation Common 22282E102 6518 391000 Sole 89900 21900 279200 Crescent Point Energy Trust (C Common 225908102 4767 247400 Sole 247400 Curtiss-Wright Corp. Common 231561101 3919 59200 Sole 43500 10600 5100 Cypress Semiconductor Corp. Common 232806109 1202 70939 Sole 70939 Dairy Farmers (Dairy) 7.875% S Preferred 23385H208 3941 40000 Sole 40000 Denbury Resources Common 247916208 3740 118100 Sole 118100 Devon Energy Common 25179M103 390901 6390410 Sole 1439792 589958 4360660 Diebold Inc. Common 253651103 226 5500 Sole 300 5200 Donnelley (R R) & Sons Co Common 257867101 224 6850 Sole 450 6400 Double Hull Tankers Inc Common Y21110104 1325 100000 Sole 100000 Dow Chemical Common 260543103 574 14150 Sole 14150 DRS Technologies Inc Common 23330x100 20077 365900 Sole 57500 14600 293800 DST Systems Inc. Common 233326107 290 5000 Sole 300 4700 Du Pont (E I) De Nemours Common 263534109 746 17675 Sole 4000 13675 Duratek Inc. Common 26658Q102 20249 924600 Sole 924600 Dynegy Inc. Class A Common 26816Q101 15801 3291900 Sole 3291900 Eagle Bulk Shipping Inc. Common y2187a101 852 61100 Sole 61100 Eaton Corp. Common 278058102 288 3950 Sole 650 3300 Eaton Vance Corp. NVT Common 278265103 261 9550 Sole 550 9000 EDO Corp Common 281347104 12784 414400 Sole 414400 El Paso Corporation Common 28336L109 103875 8620340 Sole 1352325 130600 7137415 Electronic Data Systems Corp Common 285661104 212013 7902094 Sole 1253388 692136 5956570 Emcor Group Inc Common Common 29084Q100 34161 687900 Sole 72900 22500 592500 Empire District Electric Co. Common 291641108 8041 361900 Sole 361900 Encana Corp Common 292505104 33865 724700 Sole 121600 10300 592800 Endurance Specialty Holding Pf Preferred 29267H208 6297 260000 Sole 260000 Endurance Specialty Holdings Common g30397106 10619 326250 Sole 68150 17600 240500 Energy Metals Corporation Unit Common 29271B106 7753 1500000 Sole 1500000 Enerplus Resources Fund Common 29274D604 4681 92800 Sole 92800 Esco Technologies Inc Common Common 296315104 3373 66600 Sole 66600 Evergreen Inc. Advantage Fund Common 30023y105 3805 271200 Sole 271200 Exar Corp Common 300645108 2143 150100 Sole 150100 Express Scripts Inc. Common 302182100 563 6400 Sole 6400 Exxon Mobil Corp Common 30231G102 1980 32537 Sole 23537 9000 Fairborne Energy Trust (Canadi Common 303628101 8032 654300 Sole 654300 Fannie Mae Common 313586109 659468 12830124 Sole 3104487 1195499 8530138 Fannie Mae 5.1% Series Preferr Preferred 313586604 8938 200000 Sole 200000 Fannie Mae 5.375% Convertible Preferred 313586810 48388 505 Sole 505 Fannie Mae Floating Quarterly Preferred 313586794 4303 80000 Sole 80000 Federal Express Common 31428X106 53082 470000 Sole 71700 9200 389100 Federal Home Loan Mortgage Preferred 313400772 5108 100000 Sole 100000 Federated Dept Stores Common 31410h101 125615 1720762 Sole 345581 226946 1148235 Fieldstone Investment Corp Common 31659U300 11432 968800 Sole 204600 764200 Fifth Third Bancorp Common 316773100 2802 71200 Sole 71200 Fisher Scientific Internationa Common 338032204 85104 1250617 Sole 213639 115925 921053 Florida Rock Inds Inc Common Common 341140101 14759 262524 Sole 262524 Ford Motor Co Common 345370860 23803 2990331 Sole 14117 2976214 Foster Wheeler Ltd. Common G36535139 30782 650650 Sole 48100 11400 591150 Franklin Resources Common 354613101 2979 31610 Sole 31610 Freddie Mac Common 313400301 563236 9233368 Sole 2442508 959772 5831088 Frontier Oil Corp Common Common 35914P105 5754 96950 Sole 64950 18900 13100 General Cable Corp/De Common 369300108 51802 1707950 Sole 149750 36200 1522000 General Electric Co Common 369604103 162824 4681530 Sole 859664 709110 3112756 Genesee & Wyoming Inc-Cl A Common 371559105 17777 579449 Sole 46724 532725 Genlyte Group Inc Common Common 372302109 10534 154600 Sole 154600 Georgia Gulf Corp Common 373200203 13060 502500 Sole 87000 415500 Giant Industries Inc Common 374508109 1194 17165 Sole 17165 Glaxo WellCommone Plc -Sp Adr Common 37733W105 432 8250 Sole 8250 Global Industries Ltd. Common 379336100 9862 680600 Sole 680600 GMH Commonmunities Trust Common 36188G102 560 48100 Sole 9700 24800 13600 GoldCorp Inc. Common 380956409 8887 303825 Sole 303825 Goldman Sachs Common 38141G104 6859 43700 Sole 1400 42300 Goldman Sachs GP 6.2% Series P Preferred 38144X500 2051 80000 Sole 80000 Granite Constr Inc Common Common 387328107 14190 291500 Sole 291500 Grant Prideco Inc. Common 38821G101 15004 350225 Sole 3525 9300 337400 Great Plains Energy Inc. Common 391164100 8929 317200 Sole 317200 Greater Bay Bancorp Common Common 391648102 1474 53150 Sole 53150 Hanger Orthopedic Group Common 41043f208 6810 979900 Sole 258400 721500 Harsco Corp Common Common 415864107 16350 197900 Sole 197900 Hartford Finl Svcs Grp Inc Common 416515104 2967 36840 Sole 36760 80 Harvest Energy Trust - Units ( Common 41752x101 9458 325000 Sole 325000 HCA Healthcare Commonpany Common 404119109 161187 3520114 Sole 652272 385714 2482128 Headwaters Inc. Common 42210p102 9361 235250 Sole 6950 17600 210700 Helen of Troy Ltd Common G4388N106 6036 284700 Sole 284700 Helix Energy Group, Inc. Common 42330p107 9164 241800 Sole 241800 Hercules Technology Growth Common 427096508 2536 223400 Sole 223400 Herley Industries Inc Common 427398102 7728 370100 Sole 370100 Hexel Corp. Common 428291108 1244 56614 Sole 56614 HMS Holdings Corp Common 40425j101 5535 632550 Sole 468050 106900 57600 Holly Corp Common 435758305 12348 166588 Sole 30188 7600 128800 Home Depot Inc. Common 437076102 203286 4805803 Sole 902216 548365 3355222 Hornbeck Offshore Services Common 440543106 4105 113800 Sole 113800 HSBC Holdings PLC 6.2000% Seri Preferred 404280604 2453 100000 Sole 100000 Hudson City Bancorp. Inc. Common 443683107 752 56600 Sole 56600 Hudson Highland Group Inc. Common 443792106 8362 441500 Sole 441500 Hutchinson Technology Inc Common 448407106 1495 49542 Sole 49542 Hyperion Total Return Fund Common 449145101 1870 222600 Sole 222600 Imperial Tobacco Group PLC Common 453142101 65429 1092674 Sole 143850 126687 822137 Inco Ltd Common 453258402 229 4600 Sole 300 4300 Independence Cmnty Bk Common Common 453414104 967 23200 Sole 23200 Inphonic Inc. Common 45772G105 16255 2325500 Sole 28900 70900 2225700 Insituform Technologies - Clas Common 457667103 5770 216900 Sole 216900 Insteel Industries Inc. Common 45774w108 1613 28400 Sole 6100 14400 7900 ITT Industries Inc. Common 450911102 231 4100 Sole 200 3900 J.P. Morgan Chase & Co. Common 46625H100 66777 1603686 Sole 243588 22500 1337598 JER Investors Trust Inc. Common 46614H301 14812 891200 Sole 288600 602600 Johnson & Johnson Common 478160104 30711 518597 Sole 65733 11489 441375 K&F Industries Holdings Inc. Common 482241106 9709 584900 Sole 584900 Kcs Energy Inc Common 482434206 1833 70508 Sole 70508 Kennametal Inc. Common 489170100 1080 17664 Sole 17664 Kerr-Mcgee Common 492386107 2925 30636 Sole 4783 25853 Ketch Resources Trust (Canadia Common 492564109 7997 866200 Sole 866200 Keycorp Common 493267108 164661 4474490 Sole 1395966 316076 2762448 Kinetic Concepts Inc. Common 49460W208 25210 612350 Sole 88350 19500 504500 KKR Financial Corp Common 482476306 33288 1484100 Sole 154950 28400 1300750 Komag Inc. Common 500453204 21151 444350 Sole 44250 10600 389500 Laboratory Corp. Of America Ho Common 50540r409 237610 4063108 Sole 742590 410342 2910176 Ladenburg Thalmann Financial Common 50575Q102 126 87546 Sole 87546 Laidlaw International Common 50730r102 12496 459400 Sole 500 458900 Lakes Entertainment Inc Common 51206P109 11889 1092700 Sole 193650 42200 856850 Lehman Brothers Holding 6.5% S Preferred 524908720 3602 140500 Sole 140500 Lehman Brothers Holdings Inc Common 524908100 4235 29300 Sole 800 28500 Levitt Corp. - CL A Common 52742P108 6649 301700 Sole 301700 Lifepoint Hospitals Common 53219l109 7934 255120 Sole 66367 7744 181009 Live Nation Inc. (Formerly CCE Common 538034109 323 16305 Sole 16305 Lowes Cos. Common 548661107 1559 24200 Sole 24200 LTC Properties 8% Series F Preferred 502175607 2004 80000 Sole 80000 Luminent Mortgage Capital Inc. Common 550278303 3602 444100 Sole 444100 Marshall & Ilsley Corp. Common 571834100 3377 77500 Sole 300 77200 Matrix Service Co. Common 576853105 4856 423000 Sole 423000 McMoran Exploration Co. Common 582411104 4028 225800 Sole 4900 220900 Meadowbrook Insurance Group Common 58319P108 6476 925200 Sole 925200 Medco Health Solutions, Inc. Common 58405u102 236138 4126823 Sole 622831 301901 3202091 Mellon Financial Corp Common 58551A108 4952 139100 Sole 139100 Mercantile Bankshares Corp. Common 587405101 877 22800 Sole 22800 Merck & Co Common 589331107 296064 8403771 Sole 3032250 718010 4653511 Merrill Lynch & Co Common 590188108 228 2900 Sole 2900 Metal Management, Inc. Common 591097209 10166 321200 Sole 75200 246000 Metlife Inc 6.5% Series B Pfd. Preferred 59156r603 1279 50000 Sole 50000 Mettler-Toledo International Common 592688105 14086 233450 Sole 150 233300 MFA Mortgage Investments, Inc. Common 55272x102 3089 486400 Sole 486400 Millipore Corp. Common 601073109 6159 84300 Sole 84300 Mirant Corp Common 60467r100 29891 1195641 Sole 65706 30900 1099035 MKS Instrument Inc Common Common 55306N104 7789 332442 Sole 31242 301200 Morgan Stanley Common 617446448 16916 269280 Sole 77600 191680 Mortgageit Holdings Inc. Common 61915Q108 9300 858700 Sole 91400 59500 707800 Nash Finch Co Common Common 631158102 11198 374500 Sole 91900 22400 260200 National Bank Of Canada Common 633067103 7393 135050 Sole 135050 National City Corp Common 635405103 4173 119556 Sole 1800 117756 NCI Building Systems, Inc. Common 628852105 6972 116650 Sole 25050 91600 Nestle S A Sponsored ADR Common 641069406 600 8100 Sole 6900 1200 NewAlliance Bancshares Inc. Common 650203102 9872 684100 Sole 684100 Newcastle Investment Corp. Common 65105M108 23853 997209 Sole 345150 23050 629009 Newmont Mining Corp Common 651639106 747 14400 Sole 14400 NGP Capital Resources Co Common 62912r107 3461 254449 Sole 62916 28009 163524 Nisource Inc Common Common 65473P105 4212 208289 Sole 4065 204224 Nobel Learning Commonmunities Common 654889104 4858 507100 Sole 34800 95400 376900 Northern Orion Resources Inc. Common 665575106 3609 798400 Sole 21900 776500 Northwest Pipe Commonpany Common 667746101 10006 329700 Sole 7700 19700 302300 Novamerican Steel Inc Common 669959108 3074 66900 Sole 46800 10700 9400 Novartis Ag Sponsored Adr Common 66987v109 277 5000 Sole 5000 Novastar Financial 8.90% Serie Preferred 669947806 511 21000 Sole 21000 Novastar Financial Inc. Common 669947400 73841 2208150 Sole 682850 37000 1488300 Nuveen Investments CL A Common 67090F106 267 5550 Sole 250 5300 Nuveen Pfd. & Cvrt InCommone Fund Common 67073d102 2653 215000 Sole 215000 Nuveen Quality Preferred II Common 67072c105 2542 186200 Sole 186200 Occidental Petroleum Common 674599105 169773 1832414 Sole 344161 181086 1307167 Odyssey Healthcare Inc Common 67611V101 11701 679900 Sole 679900 Odyssey Re Holdings Corp Common 67612w108 8947 412300 Sole 81600 330700 Odyssey Re Holdings Pfd. 8.125 Preferred 67612w306 6123 245000 Sole 245000 Oil States International Inc Common 678026105 15368 417045 Sole 93545 22900 300600 Old Dominion Freight Line Common 679580100 2062 76500 Sole 76500 Old Republic Intl Corp Common 680223104 1640 75175 Sole 75175 Omega Healthcare 8.375% Pfd Se Preferred 681936407 10324 400000 Sole 400000 Omnivision Technologies Common 682128103 9114 301800 Sole 301800 Oneok Inc New Common Common 682680103 15370 476600 Sole 476600 Option Care Inc. Common 683948103 7957 562700 Sole 1600 561100 Oregon Steel Mills Common 686079104 40588 793200 Sole 85400 20600 687200 Ormat Technologies Inc Common 686688102 8012 210300 Sole 210300 Oshkosh Truck Corp. Common 688239201 12224 196400 Sole 196400 Paccar Inc Common 693718108 119435 1694586 Sole 291790 175656 1227140 Pan American Silver Corp. Common 697900108 13287 523100 Sole 523100 Par Pharmaceutical Cos Inc. Common 69888p106 13908 493550 Sole 90750 19200 383600 Parallel Petroleum Corp. Common 699157103 4969 269300 Sole 75000 194300 Pediatrix Medical Group Common 705324101 13507 131600 Sole 131600 Pengrowth Energy Trust Common 706902301 3093 133900 Sole 133900 Penn National Gaming Inc. Common 707569109 3931 93200 Sole 5700 14300 73200 Penn West Energy Trust (Canadi Common 707885109 22871 625000 Sole 625000 Peoples Energy Corp Common Common 711030106 11572 324700 Sole 324700 Pepsico Inc Common 713448108 393 6800 Sole 1500 5300 Perini Corp. Common 713839108 8525 280700 Sole 280700 Perkinelmer Inc. Common 714046109 8328 354850 Sole 13350 34500 307000 Perrigo Commonpany Common 714290103 7214 442300 Sole 442300 Petrofund Energy Trust Common 71648W108 2188 100000 Sole 100000 Petrohawk Energy Corp Common 716495106 9241 674500 Sole 109700 25000 539800 Petrohawk Energy Corp (PIPE)(P Common 716495999 4110 300000 Sole 300000 Pff Bancorp Inc Common Common 69331W104 7755 230040 Sole 22440 207600 Pfizer Common 717081103 354207 14213843 Sole 2694828 1490837 10028178 Phillips-Van Heusen Common 718592108 11488 300664 Sole 300664 Photronics, Inc. Common 719405102 1351 72016 Sole 72016 Pike Electric Corp. Common 721283109 6786 323000 Sole 323000 Pinnacle Gas Resources, Inc. 1 Common 723464103 7700 700000 Sole 700000 Pioneer Commonpanies Inc. Common 723643300 13521 443300 Sole 88200 20900 334200 Pioneer Drilling Commonpany Common 723655106 3677 223800 Sole 74400 149400 Pioneer High InCommone Trust Common 72369H106 4655 277100 Sole 277100 Piper Jaffray Common 724078100 487 8856 Sole 74 8782 Pitney Bowes Inc Common 724479100 246 5740 Sole 5740 Platinum Underwriters Holdings Common G7127P100 9597 329800 Sole 69400 16600 243800 PMI Group Inc. Common 69344M101 3031 66000 Sole 100 65900 PNC Financial Services Group Common 693475105 150788 2240191 Sole 569685 161351 1509155 Powershares Lux Nanotch Pt- In Common 73935x633 913 50000 Sole 50000 Price (T. Rowe) Associates Common 74144T108 242 3100 Sole 200 2900 Procentury Corp Common 74268T108 7123 522200 Sole 522200 Procter & Gamble Co Common 742718109 322 5584 Sole 3984 1600 Progress Energy Common 743263105 15274 347300 Sole 345700 1600 Prospect Energy Corp. Common 74348T102 4591 279254 Sole 15943 40600 222711 Provident Bankshares Corp Common 743859100 4788 131350 Sole 131350 Prudential Financial, Inc. Common 744320102 1083 14290 Sole 14290 Quanta Capital H 10.25% Series Preferred G7313F114 8960 400000 Sole 400000 Quest Diagnostics Inc. Common 74834L100 192065 3743984 Sole 648072 375993 2719919 Quest Resource Corporation Common 748349305 1556 125000 Sole 125000 Quest Resources Commonmon 144A Re Common 748349305 4790 384700 Sole 384700 R & G Financial Corp Cl B Common 749136107 530 41900 Sole 6500 14900 20500 Ralcorp Holdings Inc Common 751028101 16803 441600 Sole 300 441300 Red Lion Hotles 9.50% 2/19/44 Preferred 75670L104 3288 125000 Sole 125000 Regal Entertainment Group Common 758766109 2327 123700 Sole 123700 Regions Financial Corp. New Common 7591ep100 17262 490822 Sole 420735 15 70072 Reynolds American Inc Common 761713106 232547 2194781 Sole 474921 230474 1489386 Rosetta Resources Inc. 144A re Common 777779109 3533 196700 Sole 196700 Royal Dutch Shell PLC-ADR A Common 780259206 1077 17300 Sole 14300 3000 RTI International Metals, Inc. Common 74973W107 37693 687199 Sole 92899 22200 572100 Safety Insurance Group Inc. Common 78648T100 1856 40650 Sole 21150 12800 6700 Safeway Inc Common 786514208 38424 1529630 Sole 170825 1358805 Saks Inc. Common 79377w108 237 12300 Sole 12300 San Juan Basin Royalty Tr Common 798241105 6175 150800 Sole 150800 Scansource Inc Common 806037107 9647 159700 Sole 2900 8900 147900 Schnitzer Steel INDS Inc. - A Common 806882106 2418 56434 Sole 56434 Scottish Re Grp Ltd. 7.2500% S Preferred G73537402 15240 600000 Sole 600000 Selective Ins Group Common Common 816300107 18253 344400 Sole 344400 Serologicals Corp. Common 817523103 14265 583200 Sole 583200 SFBC Intl Del Common Common 784121105 9179 376500 Sole 92300 22300 261900 Sherwin-Williams Common 824348106 460 9300 Sole 600 8700 Shuffle Master Inc. Common 825549108 8377 234400 Sole 234400 Sierra Pacific Resources Common 826428104 8253 597636 Sole 58836 538800 Sonic Solutions Common 835460106 10047 554800 Sole 554800 Southern Co Common 842587107 270 8250 Sole 8250 Southern Union 7.55% Yield Preferred 844030601 10054 385500 Sole 385500 Southern Union Co Common 844030106 40564 1633664 Sole 172029 41276 1420359 Sovereign Bancorp. Inc. Common 845905108 166343 7592055 Sole 1343101 909924 5339030 SPDR Trust Series 1 Common 78462f103 15164 116800 Sole 116800 St. Paul Travelers Commonpanies, Common 792860108 25617 612999 Sole 46064 10600 556335 Staples Inc Common 855030102 152034 5957480 Sole 1060405 638737 4258338 Star Gas Partners, L.P. Common 85512C105 475 170200 Sole 170200 Stein Mart Inc. Common 858375108 1073 61600 Sole 61600 Sterling Construction Co Common 859241101 1085 50000 Sole 50000 Sterling Financial Corp./Spoka Common 859319105 7244 249790 Sole 32660 13600 203530 Sunoco Inc. Common 86764P109 264 3400 Sole 800 2600 Suntrust Banks Inc Common 867914103 1112 15284 Sole 800 14484 Superior Energy Services Inc. Common 868157108 11772 439400 Sole 2600 436800 Symantec Corp. Common 871503108 254 15100 Sole 800 14300 Target Corp Common 87612E106 600 11530 Sole 11530 Teco Energy Inc. Common 872375100 6620 410700 Sole 410700 Terex Corp New Common Common 880779103 26260 331400 Sole 4300 11500 315600 Tesoro Petroleum Corp Common 881609101 7049 103150 Sole 43650 59500 Thermo Electron Corp. Common 883556102 278 7500 Sole 600 6900 Thomas & Betts Corp Common 884315102 7733 150500 Sole 150500 Thomas Properties Group Common 884453101 8095 594800 Sole 594800 Tidewater Inc Common 886423102 8782 159000 Sole 3800 9900 145300 TJX Commonpanies Inc Common 872540109 319 12850 Sole 800 12050 Todco - Class A Common 88889T107 2341 59400 Sole 59400 Tortoise Energy Capital Corp Common 89147u100 1187 52200 Sole 9400 27600 15200 Tortoise Energy Infrastructure Common 89147L100 11399 408415 Sole 40375 22803 345237 Tower Group Inc. Common 891777104 15895 688100 Sole 688100 Transocean Sedco Forex Inc Common G90078109 22638 281915 Sole 6640 275275 Triad Hospitals Common 89579k109 10397 248150 Sole 350 247800 Triumph Group Inc New Common Common 896818101 6068 137100 Sole 137100 Trustmark Corp. Common 898402102 1297 41002 Sole 41002 Tyco International Ltd Common 902124106 207106 7704810 Sole 1330348 861676 5512786 U S Bancorp Common 902973304 121948 3998247 Sole 1110773 378088 2509386 UCBH Holdings Inc Common 90262t308 2609 137900 Sole 137900 Unilever N V Ny Shares Common 904784709 1696 24495 Sole 23424 1071 United Online Inc. Common 911268100 1109 86200 Sole 17400 46000 22800 UNITED RENTALS INC Common Common 911363109 1628 47186 Sole 47186 Universal Corp. 6.75% Conv. Pe Preferred 913456307 24861 25000 Sole 25000 Universal Corp/Va Common 913456109 112633 3063164 Sole 570080 28909 2464175 Uranium Resources Inc Common 916901507 12197 6522600 Sole 829600 372700 5320300 URS Corp New Common Common 903236107 22947 570100 Sole 8800 23000 538300 UST Inc. Common 902911106 539548 12969937 Sole 4283028 1517047 7169862 Valero Energy Corp. Common 91913Y100 6364 106450 Sole 26750 79700 Valmont Industries Common 920253101 8694 206800 Sole 206800 Vector Group Ltd Common 92240M108 12753 669077 Sole 383013 286064 Vectren Corp. Common 92240g101 1223 46376 Sole 46376 Ventas Inc. Common 92276F100 426 12850 Sole 750 12100 Vermilion Energy Trust (Canadi Common 923728109 1396 50000 Sole 50000 Vintage Wine Trust Common 92746P100 7500 750000 Sole 750000 WABTEC Common 929740108 1634 50123 Sole 50123 Wachovia Corp Common 929903102 141469 2523962 Sole 586355 550467 1387140 Walter Industries Inc. Common 93317Q105 26621 399600 Sole 54400 14100 331100 Warnaco Group Inc. Cl A Common 934390402 1325 55220 Sole 55220 Washington Group Intl Inc Common 938862208 14583 254100 Sole 254100 Washington Mutual Inc Common 939322103 546312 12818209 Sole 3417429 1453496 7947284 Waters Corp. Common 941848103 410 9500 Sole 9500 Watts Water Technologies A Common 942749102 15459 425400 Sole 80200 19600 325600 WCA Waste Corp. Common 92926k103 12350 1766800 Sole 382900 104900 1279000 Wells Fargo & Co (New) Common 949746101 3781 59203 Sole 193 59010 Wesco Intl Inc Common Common 95082P105 22593 332200 Sole 332200 Western Refining Inc. Common 959319104 5442 251700 Sole 251700 WHITING PETROLEUM CORP Common 966387102 1344 32778 Sole 32778 Willbros Group Inc. Common 969199108 6665 327700 Sole 15900 39500 272300 Williams Coal Seam Gas Trust Common 969450105 4813 240400 Sole 240400 Wolverine World Wide Inc Common 978097103 10786 487400 Sole 487400 Worthington Industries Inc Common 981811102 6251 311600 Sole 311600 WPS Resources Corp Common Common 92931B106 7575 153900 Sole 153900 Wyeth Common 983024100 154287 3179811 Sole 569184 475996 2134631
Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None Form 13F Information Table Entry Total: 416 Form 13F Information Table Value Total: 14,582,480 (thousands) List of Other Included Managers: N/A 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. Not Applicable -----END PRIVACY-ENHANCED MESSAGE-----