-----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, U2wdQezgZi3pICMwpw0EjDmYzerRvK3E9A5dvtZEY84CTShFo1Jal1yukuiDy8x3 XMNIt5STyUqfQQnwh244sg== 0000950159-07-001079.txt : 20070817 0000950159-07-001079.hdr.sgml : 20070817 20070817113641 ACCESSION NUMBER: 0000950159-07-001079 CONFORMED SUBMISSION TYPE: 13F-HR/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070630 FILED AS OF DATE: 20070817 DATE AS OF CHANGE: 20070817 EFFECTIVENESS DATE: 20070817 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/A SEC ACT: 1934 Act SEC FILE NUMBER: 028-06700 FILM NUMBER: 071064256 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/A 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: June 30, 2007 Check here if Amendment [X]; Amendment Number: 1 This Amendment (Check only one.): [X] 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: Salvatore Faia Title: Chief Compliance Officer Phone: (201) 793-2005 Signature, Place, and Date of Signing: /s/ Salvatore Faia Jersey City, New Jersey August 14, 2007 - ------------------ ----------------------- --------------- [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).) Dreman Value Management, LLC FORM 13F 30-Jun-07
TOTAL SHEET TOTAL AXYS MARKET TOTAL SOLE SHARED NONE Name of Issuer CUSIP PRICE VALUE (X1000) 3M Company Common 88579Y101 86.79 475983.18 5484309 1156851 566983 3760475 ABX Air Inc. Common 00080S101 8.06 14883.193 1846550 535650 68200 1242700 AMComp Inc. Common 02342j101 9.76 488 50000 0 0 50000 Ace Ltd. Common g0070k103 62.52 3010.9632 48160 1060 0 47100 Administaff Inc Common 007094105 33.49 9236.542 275800 0 0 275800 Aeroflex Inc Com Common 007768104 14.17 20641.085 1456675 348275 45400 1063000 Aetna Inc Common 00817y108 49.4 309798.37 6271222 1340546 700901 4229775 Alaska Air Group Inc. Common 011659109 27.86 21127.074 758330 235930 3100 519300 Alaska Comm Systems Group Common 01167P101 15.84 27034.92 1706750 720850 35700 950200 Alcoa Inc Common 013817101 40.53 3321.4335 81950 1850 0 80100 Allete, Inc. Common 018522300 47.05 26786.741 569325 86225 11000 472100 Alliant Techsystems Inc Common 018804104 99.15 10192.62 102800 2500 0 100300 Allied World Assurance Hold Common G0219G203 51.25 13729.875 267900 1200 0 266700 Allstate Common 020002101 61.51 9200.6658 149580 104680 0 44900 Altria Group Inc Common 02209s103 70.14 1159503 16531266 5126541 1474775 9929950 Ambac Finl Group Inc Com Common 023139108 87.19 2776.1296 31840 740 0 31100 Amedisys Inc. Common 023436108 36.33 20905.19 575425 126325 15900 433200 Ameren Corp. Common 023608102 49.01 1313.468 26800 4250 0 22550 American Capital Strategies Common 024937104 42.52 2647.7204 62270 1370 0 60900 American Ecology Corp Common 025533407 21.42 6740.874 314700 0 0 314700 American Financial Realty Trus Common 02607P305 10.32 11139.666 1079425 379325 46300 653800 American Home Mortage Inves Common 02660R107 18.38 12112.604 659010 344710 0 314300 American International Group Common 026874107 70.03 2933.5567 41890 1550 240 40100 Americanwest Bancorporation Common 03058P109 18.23 5155.444 282800 0 0 282800 Amerisafe Inc. Common 03071h100 19.63 9648.145 491500 0 0 491500 Ametek Inc. Common 031100100 39.68 9670.016 243700 6000 0 237700 Amgen Common 031162100 55.29 232433.91 4203905 903891 574429 2725585 Amsurg Corp. Common 03232P405 24.14 4987.324 206600 171600 22600 12400 Anadarko Petroleum Common 032511107 51.99 452575.13 8705042 1840553 880154 5984335 Anixter International Inc. Common 035290105 75.21 49339.64 656025 146075 8400 501550 Annaly Mtg Mgmt Inc. Common 035710409 14.42 13377.434 927700 0 0 927700 Anworth Mortgage Asset Group Common 037347101 9.05 6907.865 763300 0 0 763300 Apollo Group Inc. - Class A Common 037604105 58.43 1831.7805 31350 4600 0 26750 Apollo Investment Corp. Common 03761u106 21.52 42565.484 1977950 256050 0 1721900 Arc Energy Trust (Canadian) Common 001986108 20.44 21576.464 1055600 288700 0 766900 Arch Capital Group Ltd Common g0450a105 72.54 9361.287 129050 3250 0 125800 Arena Resources Inc. Common 040049108 58.11 7699.575 132500 0 0 132500 Argon St. Inc. Common 040149106 23.21 4637.358 199800 0 0 199800 Argonaut Group Inc. Common 040157109 31.21 30136.844 965615 277215 15000 673400 Armor Holdings Inc. Common 042260109 86.87 30953.953 356325 150325 7800 198200 Arris Group Inc. Common 04269Q100 17.59 33251.432 1890360 309660 39800 1540900 Arrow Electronics Inc. Common 042735100 38.43 1358.1162 35340 5490 0 29850 Ashford Hospitality Trust Common 044103109 11.76 18717.098 1591590 321890 41500 1228200 Assurant Inc. Common 04621x108 58.92 3049.6992 51760 1160 0 50600 Asta Funding Common 046220109 38.43 24090.806 626875 121475 16600 488800 Atwood Oceanics Inc. Common 050095108 68.62 41648.909 606950 71650 9900 525400 AU Optronics Corp. Common 002255107 16.86 0 0 0 0 0 Autoliv Inc. Common 052800109 56.87 7990.235 140500 3600 0 136900 AT&T Inc. Common 00206R102 41.5 17829.645 429630 429630 0 0 Apache Corp Common Common 037411105 81.59 437476.36 5361887 1124110 520797 3716980 Avid Technology Inc. Common 05367p100 35.35 10184.335 288100 0 0 288100 Axcan Pharma Inc. Common 054923107 19.33 5954.6065 308050 258250 31900 17900 Bank Of America Corp Common 060505104 48.89 524307.41 10724226 2793330 860526 7070370 Barnes Group Inc. Common 067806109 31.68 16906.824 533675 170675 22800 340200 Baxter Intl. Inc. Common 071813109 56.34 0 0 0 0 0 Bat Indust-Adr Common 110448107 9.13142 207.256 2998 2998 0 0 Baytex Energy Trust - Units Common 073176109 19.99 2998.5 150000 150000 0 0 Bear Stearns Cos Inc. Common 073902108 140 2606.8 18620 420 0 18200 Beckman Coulter Inc. Common 075811109 64.68 8573.334 132550 3250 0 129300 BB&T Corp. Common 054937107 40.68 2941.9776 72320 1520 0 70800 BE Aerospace Inc. Common 073302101 41.3 35649.128 863175 124575 17100 721500 BEBE Stores Inc. Common 075571109 16.01 3362.1 210000 0 0 210000 Becton Dickinson Common 75887109 74.5 13.7825 185 185 0 0 Black Box Corp. DEL COM Common 091826107 41.38 18906.522 456900 0 0 456900 Blackrock Enh Div. Ach Tr. Common 09251A104 14.45 0 0 0 0 0 Blackrock Real Asset Equity Common 09254B109 16.1 0 0 0 0 0 Bluelinx Holdings Inc. Common 09624H109 10.49 0 0 0 0 0 Boeing Co. Common 97023105 96.16 0 0 0 0 0 Bonavista Energy Trust (Canadi Common 098536105 28.77 22987.23 799000 192500 0 606500 Borders Group Inc. Common 99709107 19.06 93894.706 4926270 899620 48565 3978085 Boston Private Finl Holding Common 101119105 26.87 11164.485 415500 145300 17200 253000 Boston Scientific Corp. Common 15.34 0 0 0 0 0 BP Amoco Plc - Spons Adr Common 055622104 72.14 677.46674 9391 9391 0 0 BP Prudhoe Bay Royalty Trust Common 055630107 72.22 10305.794 142700 43800 0 98900 British Amern. Tob. Plc. Adr. Common 110448107 69.14 21199.638 306619 127710 172419 6490 Bristol Myers Squibb Co. Common 31.56 0 0 0 0 0 Bristow Group Inc. Common 110394103 49.55 6777.449 136780 80 0 136700 Caci Intl Inc Cl A Common 127190304 48.85 13624.265 278900 0 0 278900 CAE Inc. Common 124765108 13.34 14221.774 1066100 0 0 1066100 Callaway Golf Common 131193104 17.81 8742.929 490900 0 0 490900 Cameco Corp Common 13321L108 50.74 1560.255 30750 5550 0 25200 Capital Lease Funding Common 140288101 10.75 10396.003 967070 270 0 966800 Capital One Finl Corp Common 14040H105 78.44 2860.7068 36470 870 0 35600 Carolina Gp - Loews Corp Common 540424207 77.27 1386.9965 17950 2900 0 15050 CastlePoint Holdings Ltd. Common 148553100 14.69 5051.891 343900 0 0 343900 CBRE Realty Finance Inc. Common 12498B307 11.89 6367.095 535500 0 0 535500 Centene Corp. Common 15135B101 21.42 9446.22 441000 1300 0 439700 Centerplate Inc IDS Common 15200E204 17.6 2354.88 133800 0 0 133800 Central Euro Distribution CP Common 153435102 34.62 14667.629 423675 159625 19600 244450 Century Aluminum Company Common 156431108 54.63 11710.487 214360 60 0 214300 Century Casinos Inc. Common 156492100 8.99 96.193 10700 5400 0 5300 CF Industries Holdings Inc. Common 125269100 59.89 18643.757 311300 0 0 311300 Charles River Laboratories Common 159864107 51.62 14546.516 281800 0 0 281800 Chesapeake Energy Corp Common 165167107 34.6 5620.77 162450 38500 0 123950 ChevronTexaco Common 166764100 84.24 541188.51 6424365 1542109 602344 4279912 Chicago Bridge & Iron Common 167250109 37.74 16326.324 432600 0 0 432600 Chicago Mercantile Ex. Hldgs. Common 534.36 0 0 0 0 0 Chittenden Corp. Common 170228100 34.95 13834.084 395825 137825 16700 241300 Chubb Corp Common 171232101 54.14 242310.45 4475627 944398 558904 2972325 Church & Dwight Co Inc Common 171340102 48.46 13050.278 269300 4150 0 265150 Cimarex Energy Co. Common 171798101 39.41 1487.3334 37740 5590 0 32150 Cincinnati Financial Corp. Common 172062101 43.4 1374.6082 31673 4823 0 26850 Cinram International Income (C Common 172595100 25.38 9245.934 364300 0 0 364300 Cisco System Inc. Common 17275R102 27.85 0 0 0 0 0 CIT Group Common 125581108 54.83 41576.767 758285 40410 0 717875 Citigroup Inc. Common 172967101 51.29 73422.917 1431525 208559 157541 1065425 Citizens Republic Bancorp Inc. Common 174420109 18.3 15990.54 873800 180300 22100 671400 City Holding Co. Common 177835105 38.33 4787.1104 124892 104592 13100 7200 Clean Harbors Inc. Common 184496107 49.42 5777.198 116900 0 0 116900 C-Met (144A) Common 189758105 12 216 18000 0 0 18000 CMS Energy Corp Common 125896100 17.2 3092.56 179800 0 0 179800 CNA Financial Corp Common 126117100 47.69 3060.7442 64180 1380 0 62800 Cohen & Steers REIT & PR Common 19247x100 27.03 3135.48 116000 116000 0 0 Columbia Bkg Sys Inc Common 197236102 29.25 9091.6313 310825 125425 14800 170600 Comerica Inc Common 200340107 59.47 4133.165 69500 4550 0 64950 Commscope Inc. Common 203372107 58.35 74270.798 1272850 118450 13300 1141100 Conn's Inc. Common 208242107 28.56 7522.704 263400 0 0 263400 ConocoPhillips Common 20825C104 78.5 1162122.8 14804112 3593984 1312039 9898089 CONSTELLATION BRANDS INC Common 21036P108 24.28 1544.208 63600 10450 0 53150 Contrans Income Fund (Canadian Common 212337109 10.53 7200.414 683800 0 0 683800 Cooper Cos. Inc Com Common 216648402 53.32 28444.887 533475 196825 10900 325750 Cooper Industries Ltd Common g24182100 57.09 1701.282 29800 4500 0 25300 Countrywide Financial Common 222372104 36.35 2967.9775 81650 1850 0 79800 Covansys Corporation Common 22281W103 33.93 20364.786 600200 0 0 600200 Covidien Ltd. When Issued Common G2552X108 43.1 38398.393 890914 220474 185467 484973 Crescent Point Energy Trust (C Common 225908102 18.45 37499.625 2032500 1060900 0 971600 Crystal River Capital Inc. Common 229393301 24.28 33703.068 1388100 100000 0 1288100 Cummins Inc. Com Common 231021106 101.21 3890.5124 38440 840 0 37600 Curtiss-Wright Corp. Common 231561101 46.61 14548.146 312125 105225 14600 192300 Cuyahoga Cnty Ohio Rev Ser-B. Common 232286BM5 0 0 0 0 0 Cypress Shapridge 144A Common 23281a208 10 7500 750000 750000 0 0 Deere & Co. Common 120.74 0 0 0 0 0 Devon Energy Common 25179M103 78.29 540749.58 6907007 1818275 704712 4384020 Deerfield Triarc Capital Cor Common 244572301 14.63 24765.664 1692800 0 0 1692800 Del Monte Foods Co Common 24522P103 12.16 28782.72 2367000 369800 44300 1952900 Delta Petroleum Corp Common 247907207 20.08 25060.844 1248050 223950 27200 996900 Donnelley (R R) & Sons Co Common 257867101 43.51 4857.4564 111640 7490 0 104150 Double Hull Tankers Inc Common Y21110104 15.59 17757.01 1139000 100000 0 1039000 Dow Chemical Common 260543103 44.22 2622.6882 59310 1310 0 58000 D R Horton Inc Com Common 23331A109 19.93 2486.2675 124750 2750 0 122000 DRS Technologies Inc Common 23330x100 57.27 32808.551 572875 80575 9700 482600 Duke Energy Corp New Common 26441c105 18.3 2478.552 135440 3040 0 132400 Du Pont (E I) De Nemours Common 263534109 50.84 564.324 11100 4000 0 7100 Dynegy Inc. Class A Common 26817g102 9.44 116.12144 12301 0 590 11711 Eagle Bulk Shipping Inc. Common y2187a101 22.41 21352.248 952800 61100 0 891700 Eaton Corp. Common 278058102 93 4551.42 48940 3190 0 45750 Edison International Common 281020107 56.12 1599.42 28500 4250 0 24250 EDO Corp Common 281347104 32.87 14564.697 443100 0 0 443100 Edwards A G & Sons Inc Common 281760108 84.55 9215.95 109000 0 0 109000 Electronic Data Systems Common 285661104 27.73 37.85145 1365 1365 0 0 Embarq Corp Common 29078e105 63.37 3121.6062 49260 1060 0 48200 Emcor Group Inc Com Common 29084Q100 72.9 26958.42 369800 0 0 369800 Empire District Electric Co. Common 291641108 22.37 8095.703 361900 361900 0 0 Encana Corp Common 292505104 61.45 131181.49 2134768 379292 205819 1549657 Endurance Specialty Holdings Common g30397106 40.04 37787.75 943750 254350 14900 674500 Energy Metals Corporation Unit Common 29271B106 14.67 11430.864 779200 0 0 779200 Enerplus Resources Fund Common 29274D604 47.08 17005.296 361200 361200 0 0 Ennis Inc. Common 293389102 23.52 17981.04 764500 159000 18700 586800 Ensco International, Inc Common 26874q100 61.01 3060.2616 50160 1060 0 49100 Eog Resources Inc. Common 26875p101 73.06 2798.198 38300 800 0 37500 Evergreen Inc. Advantage Fund Common 30023y105 14.1 16199.039 1148868 246200 0 902668 Everest Reins Hldgs Common g3223r108 108.64 3121.2272 28730 630 0 28100 Express Scripts Inc. Common 302182100 50.01 330.066 6600 6600 0 0 Exxon Mobil Corp Common 30231G102 83.88 3126.2076 37270 870 0 36400 Fannie Mae Common 313586109 65.33 573621.18 8780364 2545047 1345774 4889543 FBR Capital Markets Corp. - 14 Common 30247c103 15 4500 300000 0 0 300000 FOOT LOCKER INC N.Y. COM Common 344849104 21.8 8053.792 369440 9340 0 360100 Fair Isaac Corp. Common 303250104 40.12 34690.761 864675 259575 13100 592000 Fairborne Energy Trust (Canadi Common 303628101 7.81 25716.768 3292800 654300 0 2638500 Fairpoint Communications Inc. Common 305560104 17.75 3862.4 217600 0 0 217600 Federated Dept. Stores Inc. Del. Common 31410H101 39.93 269.5275 6750 5845 905 0 Freddie Mac Common 313400301 60.7 786320.55 12954210 3724203 1151987 8078020 Federal Express Common 31428X106 110.97 43916.378 395750 38150 9400 348200 Financial Fed Corp Com Common 317492106 29.82 5498.808 184400 157100 18600 8700 Firstmerit Corp. Common 337915102 20.93 4576.8678 218675 181975 23500 13200 Focus Energy Trust Units (Cana Common 34415R108 16.73 1673 100000 100000 0 0 Fortune Brands Inc. Common 349631101 82.37 2894.4818 35140 740 0 34400 Freehold Royalty Trust UTS (Ca Common 355904103 13.66 8090.818 592300 0 0 592300 Freeprt McMoran cpr&gld Common 35671d857 82.82 3551.3216 42880 980 0 41900 Freidman Billings Ramsey-A Common 358434108 5.46 10340.148 1893800 428900 53900 1411000 Frontline Ltd Common g3682e127 45.85 10210.795 222700 0 0 222700 GATX CORPORATION Common 361448103 49.25 5327.6188 108175 91075 11000 6100 Gannett Co Inc DEL Common 364730101 54.95 4011.8995 73010 4860 0 68150 General Cable Corp/De Common 369300108 75.75 36988.725 488300 71800 7400 409100 General Electric Co Common 369604103 38.28 345275.65 9019740 1965688 1176297 5877755 General Motors Common 370442105 37.8 3326.778 88010 1910 0 86100 Genesee & Wyoming Inc-Cl A Common 371559105 29.84 12828.216 429900 0 0 429900 Genlyte Group Inc Com Common 372302109 78.54 9833.208 125200 0 0 125200 Genworth FINL INC. COM Common 37247d106 34.4 2706.936 78690 1690 0 77000 Goldman Sachs Common 38141G104 216.75 2887.11 13320 320 0 13000 Goodrich B F Company Common 382388106 59.56 3201.9456 53760 1160 0 52600 Granite Constr Inc Com Common 387328107 64.18 15666.338 244100 0 0 244100 Great Plains Energy Inc. Common 391164100 29.12 9236.864 317200 317200 0 0 HCC Ins Hldgs Inc Common 404132102 33.41 8872.0255 265550 7000 0 258550 HNI Corp Common 404251100 41 23625.225 576225 88125 11000 477100 HUBBELL INC CL B PAR .01 Common 443510201 54.22 24618.591 454050 4300 0 449750 Hanesbrands Inc. Common 410345102 27.03 12487.86 462000 158200 17900 285900 Hanover Insurance Group, Inc. Common 410867105 48.79 27650.269 566720 90920 10700 465100 Harsco Corp Com Common 415864107 52 15946.84 306670 70 0 306600 Hartford Finl Svcs Grp Inc Common 416515104 98.51 219344.83 2226625 545446 289586 1391593 Harvest Energy Trust Common 41752x101 30.96 34557.552 1116200 0 0 1116200 Harvest Energy Trust - Units ( Common 41752x101 30.98 10068.5 325000 325000 0 0 Headwaters Inc. Common 42210p102 17.27 5662.833 327900 0 0 327900 Healthspring Inc Common 42224n101 19.06 32076.074 1682900 429800 24400 1228700 Helen of Troy Ltd Common G4388N106 27 26368.875 976625 368925 20200 587500 Helix Energy Group, Inc. Common 42330p107 39.91 18282.372 458090 1590 0 456500 Henry (Jack) & Associates Common 426281101 25.75 31384.1 1218800 182800 23600 1012400 Hercules Offshore Inc. Common 427093109 32.38 19582.841 604782 144650 18100 442032 Hess Corp Common 42809h107 58.96 4295.8256 72860 5110 0 67750 Highland Hospital Common 430141101 19.2 7674.72 399725 227125 31500 141100 Hillenbrand Industries Common 431573104 65 9519.25 146450 3500 0 142950 Home Depot Inc. Common 437076102 39.35 383403.1 9743408 1963610 1024028 6755770 Hormel Foods Corp. Common 440452100 37.35 6906.015 184900 5650 0 179250 Hornbeck Offshore Services Common 440543106 38.76 6595.983 170175 143475 17400 9300 Hospitality Properties Trust Common 44106M102 41.49 7585.2018 182820 4570 0 178250 Huntington Bancshares In Common 446150104 22.74 8268.264 363600 9350 0 354250 Hyperion Total Return Fund Common 449145101 8.9 1981.14 222600 222600 0 0 IAMgold Corporation Common 450913108 7.66 23083.41 3013500 540800 64100 2408600 IDACORP INC COM Common 451107106 32.04 23032.755 718875 123775 13800 581300 IPC Holdings LTD Common G4933P101 32.29 27890.488 863750 139450 16200 708100 Imperial Tobacco Group Plc. Adr. Common 453142101 92.23 96055.608 1041479 175724 118820 746935 Johnson & Johnson Common 478160104 61.62 38.8206 630 630 0 0 Ingersoll Rand Co Common g4776g101 54.82 3512.3174 64070 1370 0 62700 Insituform Technologies - Clas Common 457667103 21.81 12582.189 576900 0 0 576900 Integrys Energy Group, Inc. Common 45822P105 50.73 44686.89 880877 450877 9400 420600 Inyx Inc. Common 461868101 2.44 64.904 26600 13400 0 13200 Iowa Telecommunications Common 462594201 22.73 23028.9 1013150 212750 26100 774300 Ishares Tr Russell 2000 Common 464287655 82.96 102538.56 1236000 0 0 1236000 Istar Financial Inc. Common 45031U101 44.33 2640.7381 59570 1270 0 58300 J.P. Morgan Chase & Co. Common 46625H100 48.45 91001.988 1878266 371453 264582 1242231 JER Investors Trust Inc. Common 46614H301 15 19350.78 1290052 166652 0 1123400 JM Smucker Co. Common 832696405 63.66 47709.987 749450 174000 10500 564950 K2 Inc. Common 482732104 15.19 6321.5464 416165 347065 44300 24800 KKR Financial Corp Common 48248a306 24.91 25931.31 1041000 282500 0 758500 Kelly Svcs Inc Cl A Common 488152208 27.46 24300.041 884925 132825 17200 734900 Kennametal Inc. Common 489170100 82.03 13569.813 165425 61625 8200 95600 Keycorp Common 493267108 34.33 165830.86 4830494 1705521 523138 2601835 Kindred Healthcare Inc. Common 494580103 30.72 8893.44 289500 0 0 289500 Kinetic Concepts Inc. Common 49460W208 51.97 20252.709 389700 4150 0 385550 Komag Inc. Common 500453204 31.89 4254.126 133400 0 0 133400 L-3 Communications Holdings Common 502424104 97.39 1519.284 15600 2500 0 13100 Leggett & Platt Inc. Common 524660107 22.05 7729.407 350540 8940 0 341600 Lehman Brothers Holdings Inc Common 524908100 75.8 2976.666 39270 870 0 38400 Lennox International Inc. Common 526107107 34.23 18597.159 543300 124800 14700 403800 Lifepoint Hospitals Common 53219l109 38.68 35719.549 923463 259017 13944 650502 Liberty Media Hldg. Cap Ser. A Common 53071M302 117.68 0 0 0 0 0 Lilly (Eli) & Co Common 532457108 55.88 172094.64 3079718 991869 270369 1817480 Lincare Holdings Inc Common 532791100 39.85 8557.7875 214750 5500 0 209250 Lincoln National Corp Common 534187109 70.95 2891.2125 40750 850 0 39900 Loews Corp Common 540424108 50.98 3094.9958 60710 1410 0 59300 Lowes Cos. Common 548661107 30.69 116649.81 3800906 852263 603103 2345540 Lyondell Chemical PV $1 Common 552078107 37.12 4926.1952 132710 8860 0 123850 MB Financial Inc. Common 55264U108 34.74 9300.0717 267705 118005 13900 135800 MBIA Inc Common 55262C100 62.22 2635.017 42350 950 0 41400 MCG Capital Corp. Common 58047P107 16.02 3224.025 201250 150 0 201100 MFA Mortgage Investments, Inc. Common 55272x102 7.28 11585.392 1591400 5500 0 1585900 MKS Instrument Inc Com Common 55306N104 27.7 14775.18 533400 0 0 533400 Macy's Inc. Common 55616P104 39.78 143800.48 3614894 833950 466249 2314695 Merck & Co. Inc. Common 589331107 49.8 54.282 1090 1090 0 0 Marathon Oil Corp Common 565849106 59.96 3231.844 53900 1300 0 52600 Marshall & Ilsley Corp. Common 571834100 47.63 4204.3001 88270 5720 0 82550 Masco Common 574599106 28.47 2890.2744 101520 2220 0 99300 Matrix Service Co. Common 576853105 24.85 5198.62 209200 0 0 209200 Medical Properties Trust Inc. Common 58463J304 13.23 16258.678 1228925 268925 31600 928400 Merrill Lynch & Co Common 590188108 83.58 2796.5868 33460 760 0 32700 Metal Management, Inc. Common 591097209 44.07 4819.4952 109360 60 0 109300 Metlife Common 59156r108 64.48 2803.5904 43480 980 0 42500 Mettler-Toledo International Common 592688105 95.51 14145.031 148100 0 0 148100 Microsoft Common 594918104 29.47 67681.598 2296627 406190 332097 1558340 Mohawk Industries Inc Common 608190104 100.79 10274.533 101940 2590 0 99350 Morgan Stanley Common 617446448 83.88 8544.0168 101860 67560 0 34300 Mueller Water Products Inc. Common 624758108 17.06 23205.865 1360250 278450 33400 1048400 Mueller Water Products Inc. Cl Common 624758207 15 4129.44 275296 0 0 275296 Myers Industries Inc Common 628464109 22.11 5947.59 269000 223900 29200 15900 Mylan Laboratories Common 628530107 18.19 1191.445 65500 10150 0 55350 NCI Building Systems, Inc. Common 628852105 49.33 14304.467 289975 86275 10300 193400 Nal Oil & Gas Trust-UTS (Canad Common 628949109 11.82 12360.174 1045700 0 0 1045700 Nash Finch Co Com Common 631158102 49.5 26842.613 542275 227675 17500 297100 Natco Group Inc - A Common 63227W203 46.04 4686.872 101800 0 0 101800 National City Corp Common 635405103 33.32 2483.3396 74530 1630 0 72900 New Flyer Industries Inc.-IDS Common 64438r306 10.8 9942.48 920600 0 0 920600 Newcastle Investment Corp. Common 65105M108 25.07 25972.52 1036000 285500 0 750500 Newfield Expl. CO Com. Common 651290108 45.55 1443.024 31680 5080 0 26600 Newmont Mining Corp Common 651639106 39.06 277.326 7100 7100 0 0 Nobel Learning Communities Common 654889104 14.58 4195.7449 287774 26874 36400 224500 Noble Drilling Corp Common g65422100 97.52 3393.696 34800 700 0 34100 Noble Energy Common 655044105 62.39 2823.1475 45250 950 0 44300 Norfolk Southern Corp. Common 655844108 52.57 2891.35 55000 1200 0 53800 Northern Orion Resources Inc. Common 665575106 5.69 7779.368 1367200 6400 0 1360800 Northrop Grumman Common 666807102 77.87 165777.83 2128905 480955 367750 1280200 Northwest Pipe Company Common 667746101 35.57 6274.548 176400 0 0 176400 Novartis Ag Sponsored Adr Common 66987v109 56.07 201.852 3600 3600 0 0 Nucor Corp Common 670346105 58.65 2489.6925 42450 950 0 41500 Nuveen Pfd. & Cvrt Income Fund Common 67073d102 13.27 2521.3 190000 190000 0 0 Nuveen Quality Preferred II Common 67072c105 13.79 2222.948 161200 161200 0 0 Occidental Petroleum Common 674599105 57.88 279833.59 4834720 973298 484804 3376618 Odyssey Healthcare Inc Common 67611V101 11.86 7969.92 672000 0 0 672000 Odyssey Re Holdings Corp Common 67612w108 42.89 18926.499 441280 80 0 441200 Oil States International Inc Common 678026105 41.34 10723.596 259400 0 0 259400 Old Republic Intl Corp Common 680223104 21.26 1463.2195 68825 150 68675 0 Openwave Systems Inc. Common 683718308 6.26 666.064 106400 0 0 106400 Option Care Inc. Common 683948103 15.4 18972.415 1231975 305975 40400 885600 PNC Financial Services Group Common 693475105 71.58 176537.04 2466290 690898 318867 1456525 PPG Industries Inc. Common 693506107 76.11 2964.4845 38950 850 0 38100 PPL Corp. Common 69351t106 46.79 1647.008 35200 5350 0 29850 Paccar Inc Common 693718108 87.04 3326.1466 38214 877 37 37300 Pan American Silver Corp. Common 697900108 26.33 16327.233 620100 0 0 620100 Parallel Petroleum Corp. Common 699157103 21.9 41942.88 1915200 586500 38300 1290400 Park Electrochemical Corp. Common 700416209 28.18 3260.7078 115710 26210 2700 86800 Parker Hannifin Corp Common 701094104 97.91 4679.1189 47790 3290 0 44500 Pediatrix Medical Group Common 705324101 55.15 23298.118 422450 76450 9600 336400 Pengrowth Energy Trust Common 706902509 19.09 28012.666 1467400 133900 0 1333500 Penn West Energy Trust Common 707885109 33.37 39486.721 1183300 685000 0 498300 Perini Corp. Common 713839108 61.53 17837.547 289900 0 0 289900 Perkinelmer Inc. Common 714046109 26.06 9908.012 380200 2800 0 377400 Perrigo Company Common 714290103 19.58 6974.396 356200 0 0 356200 Petrohawk Energy Corp Common 716495106 15.86 28875.906 1820675 697575 40500 1082600 Petroquest Energy Inc. Common 716748108 14.54 28946.232 1990800 740600 47500 1202700 Pff Bancorp Inc Com Common 69331W104 27.93 3524.766 126200 100 0 126100 Pfizer Common 717081103 25.57 626356.71 24495765 7688255 2179840 14627670 Phillips-Van Heusen Common 718592108 60.57 16036.755 264764 0 0 264764 Piper Jaffray Cos. Common 55.73 0 0 0 0 0 Pilgrims Pride Corp Common 721467108 38.17 26932.637 705597 119797 13400 572400 Pine Brook Cap Inc. Class A Common 0 0 265913 265913 0 0 Pinnacle Gas Resources, Inc. 1 Common 723464103 8.52 5964 700000 0 0 700000 Pioneer High Income Trust Common 72369H106 17.08 6702.192 392400 277100 0 115300 Platinum Underwriters Holdings Common G7127P100 34.75 24159.069 695225 284825 16200 394200 Primary Energy Recycling-EIS ( Common 74158d304 6.36 3817.908 600300 0 0 600300 Progress Energy Common 743263105 45.59 15755.904 345600 345600 0 0 Progressive Corp Ohio Common 743315103 23.93 3030.7345 126650 2750 0 123900 Protective Life Corp Com Common 743674103 47.81 8362.9252 174920 4770 0 170150 Provident Bankshares Corp Common 743859100 32.78 2687.96 82000 0 0 82000 Prudential Financial, Inc. Common 744320102 97.23 2971.3488 30560 660 0 29900 Pulte Homes, Inc Common 745867101 22.45 2371.169 105620 2320 0 103300 Quest Diagnostics Inc. Common 74834L100 51.65 44137.301 854546 209868 129048 515630 Radian Group Inc. Common 750236101 54 0 0 0 0 0 REGIS CORP MINN Common 758932107 38.25 24826.163 649050 102450 12300 534300 RPC Inc. Common 749660106 17.04 15030.984 882100 0 0 882100 RTI International Metals, Inc. Common 74973W107 75.37 43058.806 571299 49799 6300 515200 Ralcorp Holdings Inc Common 751028101 53.45 28284.404 529175 70375 9400 449400 Regal Beloit Common 758750103 46.54 26879.642 577560 93560 11300 472700 Regal Entertainment Group Common 758766109 21.93 2712.741 123700 123700 0 0 Regions Financial Corp. New Common 7591ep100 33.1 16342.794 493740 416740 0 77000 Reynolds American Inc Common 761713106 65.2 2881.84 44200 900 0 43300 Royal Carribean Cruises Common V7780T103 42.98 2822.9264 65680 1480 0 64200 Ruby Tuesday Inc Com Common 781182100 26.33 4104.847 155900 130400 17400 8100 Ruddick Corp. Common 781258108 30.12 28696.077 952725 142725 18300 791700 Russell 1000 Value Index Fund Common 464287598 86.74 109639.1 1263997 674352 248020 341625 Safeco Corp Common 786429100 62.26 2580.677 41450 950 0 40500 Safety Insurance Group Inc. Common 78648T100 41.4 5083.713 122795 103695 11900 7200 Safeway Inc Common 786514208 34.03 3297.8473 96910 96910 0 0 San Juan Basin Royalty Tr Common 798241105 31.81 3206.448 100800 100800 0 0 Sanderson Farms Inc. Common 800013104 45.02 6444.613 143150 121250 14800 7100 Scansource Inc Common 806037107 31.99 10220.805 319500 1000 0 318500 Seagate Technology Common G7945J104 21.77 1343.209 61700 8350 0 53350 Selective Ins Group Com Common 816300107 26.88 10050.701 373910 110 0 373800 Sempra Energy Common 816851109 59.23 2632.7735 44450 950 0 43500 Shaw Group Inc Common 820280105 46.29 18340.098 396200 0 0 396200 Sherwin-Williams Common 824348106 66.47 1382.576 20800 3100 0 17700 Sierra Pacific Resources Common 826428104 17.56 6154.78 350500 0 0 350500 Sigma-Aldrich Corp. Common 826552101 42.67 9348.997 219100 5150 0 213950 Smithfield Foods Inc Com Common 832248108 30.79 1537.9605 49950 7150 0 42800 Southern Copper Corp. Common 84265V105 94.26 3729.8682 39570 1670 0 37900 Southern Union Co Common 844030106 32.59 21372.555 655801 0 1 655800 Sovereign Bancorp. Inc. Common 845905108 21.14 157299.53 7440848 1649822 951399 4839627 SPDR Tf. Common 78462F103 150.43 20902.249 138950 138885 65 0 SLM Corp. Common 78442P106 57.58 3873.9824 67280 1480 0 65800 Sprint Corp Common 852061100 20.71 3078.7486 148660 3360 0 145300 St. Mary Land & Exploration Common 792228108 36.62 11111.057 303415 119815 14300 169300 Staples Inc Common 855030102 23.73 148242.47 6247049 1350769 661378 4234902 Stec Inc Common 784774101 6.43 20808.445 3236150 687250 83900 2465000 Sterling Construction Co Common 859241101 21.15 11490.795 543300 3200 0 540100 Sterling Financial Corp./Spoka Common 859319105 28.94 16363.11 565415 130285 15500 419630 Stewart W P and Co. LTD Common G84922106 10.89 1036.728 95200 95200 0 0 Stillwater Mining Co. Common 86074Q102 11.01 2417.796 219600 0 0 219600 Stride Rite Corp Com Common 863314100 20.26 5951.375 293750 244650 31900 17200 Suburban Propane Partners Common 864482104 47.87 16194.421 338300 0 0 338300 Suntrust Banks Inc Common 867914103 85.74 3793.4806 44244 860 0 43384 Superior Energy Services Inc. Common 868157108 39.92 31060.355 778065 124965 15300 637800 Supervalu Inc. Common 868536103 46.32 217.704 4700 800 0 3900 Syneron Medical Ltd. Common M87245102 24.95 4715.55 189000 159200 19100 10700 TJX Companies Inc Common 872540109 27.5 1348.875 49050 7650 0 41400 TXU Corp Common 873168108 67.3 269948.85 4011127 794672 372790 2843665 Teco Energy Inc. Common 872375100 17.18 4772.604 277800 0 0 277800 Tektronix Inc. Common 879131100 33.74 11117.33 329500 53600 6400 269500 Tesoro Petroleum Corp Common 881609101 57.15 3226.689 56460 1260 0 55200 Texas Inds. Inc. Common 882491103 78.41 8938.74 114000 0 0 114000 The Men's Wearhouse Inc. Common 587118100 51.07 39775.87 778850 199300 11800 567750 Thomas & Betts Corp Common 884315102 58 7313.8 126100 0 0 126100 Thornburg Mtg Inc Com Common 885218107 26.18 30777.732 1175620 120 0 1175500 Todco - Class A Common 88889T107 47.21 10508.946 222600 0 0 222600 Torchmark Corp Common 891027104 67 2850.85 42550 950 0 41600 Tortoise Energy Infrastructure Common 89147L100 41.84 11391.317 272259 1800 2 270457 Tower Group Inc. Common 891777104 31.9 11595.65 363500 0 0 363500 Travelers Cos Inc/THE Common 89417e109 53.5 31456.93 587980 30220 10700 547060 Triumph Group Inc New Com Common 896818101 65.47 5722.078 87400 0 0 87400 Tyco International Ltd. Common G9143X208 13.25 42967.365 3242820 834311 468499 1940010 Tyco Electronics Ltd. Common G9144P105 39.06 34614.581 886190 220474 180743 484973 United HealthGroup Inc. Common 91324P102 51.14 507950.61 9932550 2200501 1006584 6725465 UCBH Holdings Inc Common 90262t308 18.27 23138.498 1266475 226175 26700 1013600 URS Corp New Com Common 903236107 48.55 8374.875 172500 0 0 172500 UST Common 902911106 53.71 576881.55 10740673 3911542 671706 6157425 U S Bancorp Common 902973304 32.95 131778.91 3999360 1233248 384697 2381415 Unilever N V Ny Shares Common 904784709 31.02 241.58376 7788 4575 0 3213 UnionBanCal Corp. Common 908906100 59.7 2605.905 43650 950 0 42700 United Auto Group Inc. Common 909440109 21.29 9888.1405 464450 192550 23600 248300 United Fire and Casualty Co. Common 910331107 35.38 19941.229 563630 123430 14700 425500 United States Steel Corp. Common 912909108 108.75 3070.0125 28230 630 0 27600 United Technologies Common 913017109 70.93 233299.84 3289156 673311 338040 2277805 Unum Group Common 91529y106 26.11 3186.4644 122040 2640 0 119400 Uranium Resources Inc Common 916901507 11.03 40241.19 3648340 499915 72838 3075587 Valero Energy Corp. Common 91913Y100 73.86 23200 0 0 Varian Inc. Common 922206107 54.83 12591.655 229649 74800 9500 145349 Vector Group Ltd Common 92240M108 22.53 46932.941 2083131 822875 28500 1231756 Ventas Inc. Common 92276F100 36.25 6668.1875 183950 4850 0 179100 Verizon Communications Common 92343V104 41.17 316397.13 7685138 1415196 807732 5462210 Vermilion Energy Trust (Canadi Common 923728109 33.84 3106.512 91800 91800 0 0 WAJAX Income Fund (Canadian) Common 930787106 34.71 2631.018 75800 0 0 75800 WEIS MARKETS INC Common 948849104 40.51 20653.213 509830 98130 11600 400100 WR Berkley Corp Common 084423102 32.54 2707.328 83200 1800 0 81400 Wachovia Corp Common 929903102 51.25 339852.84 6631275 1617793 654230 4359252 Waddell & Reed Financial - A Common 930059100 26.01 19484.741 749125 186125 21500 541500 Walter Industries Inc. Common 93317Q105 28.96 4824.736 166600 0 0 166600 Washington Group Intl Inc Common 938862208 80.01 26003.25 325000 0 0 325000 Washington Mutual Inc Common 939322103 42.64 531983.12 12476152 3708594 1191310 7576248 Watts Water Technologies A Common 942749102 37.47 14804.397 395100 0 0 395100 Wells Fargo & Co (New) Common 949746101 35.17 2836.1088 80640 1840 0 78800 Wesco Intl Inc Com Common 95082P105 60.45 18355.643 303650 3300 0 300350 Whirlpool Corp Common 963320106 111.2 5102.968 45890 2690 0 43200 Williams Coal Seam Gas Trust Common 969450105 10.38 596.85 57500 57500 0 0 Windstream Corp. Common 97381W104 14.76 8644.194 585650 18700 0 566950 Wolverine World Wide Inc Common 978097103 27.71 8547.1495 308450 0 0 308450 Worthington Industries Inc Common 981811102 21.65 4179.316 193040 140 0 192900 Wyeth Common 983024100 57.34 503346.8 8778284 1836172 903547 6038565 XL Capital Ltd Common G98255105 84.29 3342.0985 39650 850 0 38800 XTO Energy Inc. Common 98385X106 60.1 3004.399 49990 1090 0 48900 ABN AMRO CAP VII (ABNA) - 6.08 Preferred 00372Q201 23.32 4664 200000 200000 0 0 Aegon NV 6.875% Preferred Preferred ep0215871 25.8 2064 80000 80000 0 0 Affordable Resid (ARC) 8.25% P Preferred 008273203 24.85 4970 200000 200000 0 0 Alabama Power 5.3% Pfd. Preferred 010392561 22.89 1831.2 80000 80000 0 0 Arch Capital Group Ltd. Pfd. S Preferred g0450a154 25.4 848.36 33400 33400 0 0 Arch Capital Group Ltd. Pfd. S Preferred g0450A147 25.5 8670 340000 340000 0 0 Aspen Insurance (AHL) 7.4010% Preferred g05384139 24.9 498 20000 20000 0 0 Axis Capital 7.5000% Preferred 05461t206 102.56 5128 50000 50000 0 0 Axis Capital Holdings 7.25 % P Preferred ep0168971 25 5452.5 218100 218100 0 0 Banco Santander 6.4100% Pfd. S Preferred 80281R300 24.88 1990.4 80000 80000 0 0 CIT Group Inc. 6.35% Series A Preferred 125581207 25.18 7805.8 310000 310000 0 0 Chevy Chase PFD 8% Preferred 166779207 25.94 4910.442 189300 189300 0 0 DB Cap Funding VIII 6.375% Per Preferred 25153u204 24.69 7407 300000 300000 0 0 Dairy Farmers (Dairy) 7.875% S Preferred 23385H208 101 14140 140000 140000 0 0 Endurance Specialty Holding Pf Preferred 29267H208 26.14 10769.68 412000 412000 0 0 Fannie Mae 5.1% Series Preferr Preferred 313586604 47.31 9462 200000 200000 0 0 Fannie Mae Floating Quarterly Preferred 313586794 51.84 4147.2 80000 80000 0 0 Federal Home Loan Mortgage Preferred 313400772 47.92 4792 100000 100000 0 0 First Repub Bank 6.7% Series A Preferred 336158209 25.58 5116 200000 200000 0 0 Franklin Bank 7.50% Series A Preferred 352451405 25 1250 50000 50000 0 0 Freddie Mac 6.4200% Series Preferred 313400699 54.5 1362.5 25000 25000 0 0 Goldman Sachs GP 6.2% Series P Preferred 38144X500 25.45 2036 80000 80000 0 0 HSBC Holdings PLC 6.2000% Seri Preferred 404280604 23.85 2385 100000 100000 0 0 LTC Properties 8% Series F Preferred 502175607 24.8 1984 80000 80000 0 0 Lehman Brothers Holding 6.5% S Preferred 524908720 25.4 3568.7 140500 140500 0 0 Metlife Inc 6.5% Series B Pfd. Preferred 59156r603 25.59 1279.5 50000 50000 0 0 Morgan Stanley 6.18% Series A Preferred 61747S504 25.69 2569 100000 100000 0 0 Odyssey RE HLDGS 0.00% Series Preferred 67612W405 25.55 3886.155 152100 152100 0 0 Odyssey Re Holdings Pfd. 8.125 Preferred 67612w306 26.14 6404.3 245000 245000 0 0 Omega Healthcare 8.375% Pfd Se Preferred 681936407 25.81 10324 400000 400000 0 0 PPL Electric Uti PFD 6.25% Preferred 69351u863 24.84 2980.8 120000 120000 0 0 PRETSL 16 Pfd. Term 17.06% Preferred 74042gaa7 86.94 3390.66 39000 0 0 39000 PRETSL 21 Pfd. Term Security 1 Preferred 74042kaa8 92.75 3478.125 37500 0 0 37500 PRETSL 24 Pfd. Term Security Preferred 74043dab1 99.77 7482.75 75000 0 0 75000 PreTSL 17 Pfd. Term Security 1 Preferred 74042vaa4 83.47 3130.125 37500 0 0 37500 PreTSL 18 Pfd. Term Security 1 Preferred 74042xaa0 83.51 3131.625 37500 0 0 37500 PreTSL 19 Pfd. Term Security 1 Preferred 74042haj6 86.38 2159.5 25000 0 0 25000 PreTSL 23 Pfd. Term Security 1 Preferred 74043baa7 96.74 3627.75 37500 0 0 37500 Red Lion Hotles 9.50% 2/19/44 Preferred 75670L104 26.35 2140.9375 81250 81250 0 0 S Finance Pfd. (SANTAN) 6.8% S Preferred 80281R409 24.88 2488 100000 100000 0 0 Scottish Re Grp Ltd. 7.2500% S Preferred G73537402 22.48 12979.952 577400 577400 0 0 Southern Union 7.55% Yield Preferred 844030601 25.49 9826.395 385500 385500 0 0 Fannie Mae 5.375% Convertible Preferred 313586810 99144.38 50067.912 505 505 0 0 Universal Corp. 6.75% Conv. Pe Preferred 913456307 1456.28 36407 25000 25000 0 0 Totals 19,551,280 452,624,651 110,730,218 31,650,586 310,267,047
Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None Form 13F Information Table Entry Total: 464 Form 13F Information Table Value Total: 19,551,280 (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-----