-----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, R107ny+0U1v/vmTELXUd/IFfFCQukgRfSP/jqLkU77qltvNTMQhb4Ek2sJOwrbU9 El8sNpz05MDA9eomcrGXvA== 0000950159-08-001245.txt : 20080826 0000950159-08-001245.hdr.sgml : 20080826 20080826140424 ACCESSION NUMBER: 0000950159-08-001245 CONFORMED SUBMISSION TYPE: 13F-HR/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080630 FILED AS OF DATE: 20080826 DATE AS OF CHANGE: 20080826 EFFECTIVENESS DATE: 20080826 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: 081038778 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, 2008 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: Michael D. Appleton Title: Chief Compliance Officer Phone: (201) 793-2005 Signature, Place, and Date of Signing: /s/ Michael D. Appleton Jersey City, New Jersey August 26, 2008 - ----------------------- ----------------------- ----------------- [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-08 TOTAL TOTAL: Title MARKET of VALUE TOTAL SHARES SOLE SHARED NONE Name of Issuer class CUSIP (x1000) - ----------------------------------------------------------------------------------------------------------------------------------- 3M Company COM 88579Y101 215,447 3,095,945 665,349 327,409 2,103,187 AT&T Inc COM 00206R102 289 8,580 1,080 - 7,500 Aaron Rents Inc Com COM 002535201 11,166 500,025 278,750 13,525 207,750 Ace Ltd. COM g0070k103 891 16,180 180 - 16,000 Administaff Inc COM 007094105 9,894 354,750 - - 354,750 Aetna Inc COM 00817Y108 286,430 7,067,118 1,422,095 577,231 5,067,792 Affiliated Computer Services - COM 008190100 7,633 142,700 6,900 - 135,800 Air Transport Services Group I COM 00922R105 1 1,116 - 1,116 - Alaska Comm Systems Group COM 01167P101 26,307 2,203,254 957,270 31,234 1,214,750 Alcoa Inc COM 013817101 955 26,810 310 - 26,500 Allegheny Technologies COM 01741r102 684 11,535 235 - 11,300 Allete, Inc. COM 018522300 33,183 790,073 188,250 8,973 592,850 Alliant Techsystems Inc COM 018804104 12,593 123,850 4,000 - 119,850 Allied Waste Industries Inc. COM 019589308 4,004 317,300 14,900 - 302,400 Allied World Assurance Hold COM G0219G203 13,029 328,850 - - 328,850 Allstate COM 020002101 872 19,120 220 - 18,900 Altria Group Inc COM 02209S103 462,380 22,489,278 7,520,727 1,476,813 13,491,738 Amedisys Inc. COM 023436108 21,578 427,962 134,159 6,839 286,964 Ameren Corp. COM 023608102 1,658 39,250 2,700 - 36,550 American Capital Strategies COM 024937104 713 29,980 480 - 29,500 American Ecology Corp COM 025533407 11,952 404,750 - - 404,750 American International Group COM 026874107 453 17,110 190 20 16,900 Amerisafe Inc. COM 03071h100 10,085 632,680 330 - 632,350 Amgen Inc COM 031162100 87,828 1,862,343 381,723 186,182 1,294,438 Amsurg Corp. COM 03232P405 14,126 580,138 367,770 18,968 193,400 Anadarko Petroleum COM 032511107 458,641 6,128,283 1,338,119 432,385 4,357,779 Anixter International Inc. COM 035290105 49,824 837,521 201,000 6,921 629,600 Apache Corp Com COM 037411105 446,588 3,212,860 726,746 231,958 2,254,156 Apollo Investment Corp. COM 03761u106 29,719 2,073,910 231,510 - 1,842,400 Apria Healthcare Group Inc. COM 037933108 17,005 877,009 284,100 13,659 579,250 Arc Energy Trust (Canadian) COM 001986108 53,153 1,588,400 821,500 - 766,900 Arch Capital Group Ltd COM g0450a105 6,179 93,170 3,470 - 89,700 Argo Group International Holdi COM G0464B107 28,179 839,657 268,612 8,515 562,530 Arris Group Inc. COM 04269Q100 4 522 - 522 - Arrow Electronics Inc. COM 042735100 1,871 60,900 11,450 - 49,450 Ashford Hospitality Trust COM 044103109 9,079 1,965,181 470,320 24,261 1,470,600 Assurant Inc. COM 04621x108 967 14,660 160 - 14,500 Atmos Energy COM 049560105 231 8,380 1,080 - 7,300 Atwood Oceanics Inc. COM 050095108 32,689 262,898 75,550 3,948 183,400 Autoliv Inc. COM 052800109 6,890 147,800 7,200 - 140,600 Autozone COM 053332102 1,004 8,300 100 - 8,200 Avid Technology Inc. COM 05367p100 6,300 370,800 - - 370,800 BHP BILLITON LTD ADR COM 088606108 35,601 417,900 68,150 7,250 342,500 BJ Svcs Co Com COM 055482103 1,064 33,310 2,610 - 30,700 BP Amoco Plc - Spons Adr COM 055622104 320 4,600 4,600 - - BP Prudhoe Bay Royalty Trust COM 055630107 14,749 142,700 43,800 - 98,900 Baldor Electric Co COM 057741100 26,157 747,780 189,600 9,680 548,500 Bank Of America Corp COM 060505104 315,640 13,223,291 3,092,173 904,156 9,226,962 Barnes Group Inc. COM 067806109 21,657 937,937 324,180 16,307 597,450 Baytex Energy Trust - Units COM 073176109 5,142 150,000 150,000 - - Beckman Coulter Inc. COM 075811109 6,405 94,850 4,250 - 90,600 Biovail Corp. COM 09067J109 1,191 123,440 12,590 - 110,850 Black Box Corp. DEL COM COM 091826107 15,988 588,000 - - 588,000 Blount Intl Inc New COM 095180105 12,770 1,099,938 712,920 38,218 348,800 Bonavista Energy Trust (Canadi COM 098536105 55,229 1,496,200 889,700 - 606,500 Borders Group Inc. COM 099709107 27,625 4,604,180 750,950 13,250 3,839,980 Boston Private Finl Holding In COM 101119105 3,091 545,123 263,610 13,513 268,000 Bristow Group Inc. COM 110394103 26,211 529,622 128,100 7,022 394,500 Bristol Myers Squibb COM 110122108 1 45 - 45 - British American Tobacco COM 110448107 10,885 157,190 59,362 92,087 5,741 C-Met (144A) COM 189758105 216 18,000 - - 18,000 CAE Inc. COM 124765108 15,490 1,372,050 - - 1,372,050 CBS Corp New Cl B COM 124857202 1,795 92,090 4,990 - 87,100 CF Industries Holdings Inc. COM 125269100 10,910 71,400 3,100 - 68,300 CIT Group COM 125581108 62,767 9,216,846 1,826,902 987,955 6,401,989 CMS Energy Corp COM 125896100 3,446 231,250 - - 231,250 CNA Financial Corp COM 126117100 753 29,960 460 - 29,500 Caci Intl Inc Cl A COM 127190304 16,434 359,050 - - 359,050 Callaway Golf COM 131193104 7,471 631,500 - - 631,500 Cameco Corp COM 13321L108 1,914 44,650 3,500 - 41,150 CapLease Inc COM 140288101 9,318 1,244,050 - - 1,244,050 Capital One Finl Corp COM 14040H105 979 25,750 950 - 24,800 Carnival Corp. COM 143658300 94,394 2,863,894 581,696 235,593 2,046,605 CastlePoint Holdings Ltd. COM g19522112 3,768 414,500 - - 414,500 Celanese Corp. - Series A COM 150870103 1,077 23,580 380 - 23,200 Centene Corp. COM 15135B101 9,471 564,100 - - 564,100 Centerplate Inc IDS COM 15200E204 647 133,800 - - 133,800 Century Aluminum Company COM 156431108 29,932 450,180 178,350 8,930 262,900 Charles River Laboratories COM 159864107 11,643 182,150 - - 182,150 Check Point Software COM m22465104 2,240 94,650 6,950 - 87,700 Chesapeake Energy Corp COM 165167107 1,834 27,800 400 - 27,400 Chevron Corporation COM 166764100 434,343 4,381,549 1,089,117 311,025 2,981,407 Chicago Bridge & Iron COM 167250109 8,368 210,150 - - 210,150 Chubb Corp COM 171232101 161,323 3,291,642 745,142 353,008 2,193,492 Cigna Corp COM 125509109 1,940 54,810 2,910 - 51,900 Cimarex Energy Co. COM 171798101 9,943 142,720 6,070 - 136,650 Cincinnati Financial Corp. COM 172062101 1,587 62,463 2,913 - 59,550 Cinram International Income (C COM 172595100 2,086 364,300 - - 364,300 Citigroup, Inc COM 172967101 140,346 8,373,888 1,678,203 710,668 5,985,017 Citizens Republic Bancorp Inc. COM 174420109 2,248 797,050 - - 797,050 City Holding Co. COM 177835105 12,544 307,676 184,287 9,839 113,550 Coca-Cola Femsa - ADR COM 191241108 235 4,170 1,070 - 3,100 Cohen & Steers REIT & PR COM 19247x100 2,216 116,000 116,000 - - Columbia Bkg Sys Inc COM 197236102 15,190 785,820 265,970 14,300 505,550 Comerica Inc COM 200340107 2,068 80,700 4,550 - 76,150 Commscope Inc. COM 203372107 49,472 937,502 259,420 9,282 668,800 Computer Sciences Corp. COM 205363104 939 20,040 240 - 19,800 Conn's Inc. COM 208242107 5,445 338,850 - - 338,850 ConocoPhillips COM 20825C104 748,527 7,930,154 2,139,903 579,749 5,210,502 Consolidated Edison Inc. COM 209115104 803 20,540 240 - 20,300 Contrans Income Fund (Canadian COM 212337109 8,837 Cooper Cos. Inc Com COM 216648402 25,159 677,223 244,400 8,223 424,600 Cooper Industries Ltd COM G24182100 1,754 44,400 3,250 - 41,150 Corn Prods Intl Inc Com COM 219023108 1,076 21,900 1,500 - 20,400 Covidien Ltd. COM G2552X108 6,053 126,399 29,213 4,827 92,359 Crescent Point Energy Trust (C COM 225908102 86,467 2,172,500 1,200,900 - 971,600 Curtiss-Wright Corp. COM 231561101 24,281 542,707 199,510 9,797 333,400 Cypress Sharpridge Investments COM 23281A505 4,500 250,000 250,000 - - DHT Maritime Inc COM Y2065g105 11,424 1,139,000 100,000 - 1,039,000 DRS Technologies Inc COM 23330x100 33,111 420,619 112,220 4,049 304,350 Del Monte Foods Co COM 24522P103 23,529 3,313,895 821,360 41,535 2,451,000 Deluxe Corp. COM 248019101 7,504 421,100 - - 421,100 Devon Energy COM 25179M103 628,045 5,226,743 1,334,356 331,307 3,561,080 Donnelley (R R) & Sons Co COM 257867101 2,917 98,260 6,110 - 92,150 Double Hull Tankers Inc COM Y21110104 - Dow Chemical COM 260543103 1,047 29,980 980 - 29,000 Dreamworks Animation SKG-A COM 26153C103 14,136 474,193 286,760 14,333 173,100 Du Pont (E I) De Nemours COM 263534109 202 4,700 1,100 - 3,600 Duke Energy Corp New COM 26441c105 852 49,050 550 - 48,500 Dynegy Inc. Class A COM 26817g102 347 40,543 27,514 - 13,029 Eagle Bulk Shipping Inc. COM y2187a101 28,068 949,200 57,500 - 891,700 Eaton Corp. COM 278058102 2,177 25,620 1,170 - 24,450 Edison International COM 281020107 2,394 46,600 2,950 - 43,650 Electronic Data Systems Corp COM 285661104 1 60 - 60 - Embarq Corp COM 29078e105 963 20,380 380 - 20,000 Emcor Group Inc Com COM 29084Q100 32,442 1,137,123 171,170 9,453 956,500 Empire District Electric Co. COM 291641108 4,845 261,300 261,300 - - Encana Corp COM 292505104 1,348 14,825 160 365 14,300 Endurance Specialty Holdings COM G30397106 32,492 1,055,268 284,750 10,818 759,700 Enerplus Resources Fund COM 29274D604 18,667 403,700 403,700 - - Ennis Inc. COM 293389102 17,484 1,117,179 347,400 18,329 751,450 Ensco International, Inc COM 26874q100 1,345 16,660 260 - 16,400 Esterline Technologies Com COM 297425100 17,970 364,805 88,900 4,805 271,100 Evergreen Inc. Advantage Fund COM 30023y105 11,971 1,148,868 246,200 - 902,668 Exxon Mobil Corp COM 30231G102 962 10,920 120 - 10,800 FBR Capital Markets Corp. - 14 COM 30247c103 1,509 300,000 - - 300,000 Fairpoint Communications Inc. COM 305560104 2,258 313,107 15,982 5,814 291,311 Fannie Mae COM 313586109 201,717 10,339,136 3,633,270 892,700 5,813,166 Federal Express COM 31428X106 93,611 1,188,102 196,196 20,816 971,090 Fifth Third Bancorp COM 316773100 400 39,330 430 - 38,900 Financial Fed Corp Com COM 317492106 10,099 459,876 243,360 12,916 203,600 Firstmerit Corp. COM 337915102 10,037 615,367 378,130 20,187 217,050 Forest Laboratories Inc. COM 345838106 944 27,160 460 - 26,700 Fortune Brands Inc. COM 349631101 1,623 26,000 1,850 - 24,150 Freddie Mac COM 313400301 198,667 12,113,845 2,145,622 1,049,800 8,918,423 Freehold Royalty Trust UTS (Ca COM 355904103 14,006 592,300 - - 592,300 Freeprt McMoran cpr&gld COM 35671d857 1,113 9,500 100 - 9,400 Frontier Oil Corp Com COM 35914P105 570 23,820 520 - 23,300 Frontline Ltd COM g3682e127 15,540 222,700 - - 222,700 GATX CORPORATION COM 361448103 13,101 295,541 174,930 7,711 112,900 Gannett Co Inc DEL COM 364730101 629 29,020 870 - 28,150 Gardner Denver Inc Com COM 365558105 22,680 399,300 100 - 399,200 General Cable Corp/De COM 369300108 28,769 472,778 151,790 4,288 316,700 General Electric Co COM 369604103 203,192 7,613,048 1,634,703 739,716 5,238,629 Genesee & Wyoming Inc-Cl A COM 371559105 18,825 553,350 - - 553,350 Glaxosmitkhline Plc-Sp Adr COM 37733W105 266 6,010 1,710 - 4,300 Gramercy Capital COM 384871109 2,963 255,621 73,431 6,062 176,128 Granite Constr Inc Com COM 387328107 9,908 314,250 - - 314,250 Great Plains Energy Inc. COM 391164100 3,848 152,200 152,200 - - HCC Ins Hldgs Inc COM 404132102 7,633 361,080 17,430 - 343,650 HERCULES INC COM 427056106 27,183 1,605,597 437,340 22,007 1,146,250 HILB ROGAL & HOBBS CO COM 431294107 29,967 689,525 197,130 9,595 482,800 HNI Corp COM 404251100 230 13,050 11,550 - 1,500 HUBBELL INC CL B PAR .01 COM 443510201 23,529 590,150 10,850 - 579,300 Hanesbrands Inc. COM 410345102 13,723 505,629 189,200 9,979 306,450 Hanover Insurance Group, Inc. COM 410867105 31,809 748,455 193,420 9,435 545,600 Harley Davidson COM 412822108 767 21,160 360 - 20,800 Harsco Corp Com COM 415864107 15,907 292,350 - - 292,350 Hartford Finl Svcs Grp Inc COM 416515104 99,153 1,535,593 408,308 198,825 928,460 Harvest Energy Trust COM 41752x101 40,012 1,663,028 546,828 - 1,116,200 Headwaters Inc. COM 42210p102 4,666 396,450 - - 396,450 Healthspring Inc COM 42224n101 37,494 2,221,229 651,490 21,989 1,547,750 Helen of Troy Ltd COM G4388N106 21,188 1,314,379 547,460 19,069 747,850 Helix Energy Group, Inc. COM 42330p107 13,027 312,850 - - 312,850 Henry (Jack) & Associates COM 426281101 34,480 1,593,333 307,840 15,593 1,269,900 Hercules Offshore Inc. COM 427093109 28,771 756,725 313,550 15,341 427,834 Hess Corp COM 42809h107 1,227 9,720 120 - 9,600 Home Depot Inc. COM 437076102 865 36,950 350 - 36,600 Hormel Foods Corp. COM 440452100 8,126 234,800 10,200 - 224,600 Hornbeck Offshore Services COM 440543106 14,778 261,509 152,498 7,761 101,250 Hospitality Properties Trust COM 44106M102 5,319 217,440 2,590 - 214,850 Hyperion Total Return Fund COM 449145101 1,454 222,600 222,600 - - IAMgold Corporation COM 450913108 24,629 4,070,962 1,252,680 44,532 2,773,750 IDACORP INC COM COM 451107106 29,289 1,013,820 269,970 13,500 730,350 INTL SPEEDWAY CORP-CL A COM 460335201 11,236 287,884 169,130 8,054 110,700 IPC Holdings LTD COM G4933P101 30,191 1,137,156 294,130 14,876 828,150 Imperial Tobacco Group PLC COM 453142101 34,591 465,869 39,576 52,212 374,081 Integrys Energy Group, Inc. COM 45822P105 41,830 822,936 264,040 8,046 550,850 International Paper COM 460146103 857 36,800 2,800 - 34,000 Iowa Telecommunications COM 462594201 25,734 1,461,337 450,140 23,397 987,800 J.P. Morgan Chase & Co. COM 46625H100 24,500 714,091 107,681 12,025 594,385 JM Smucker Co. COM 832696405 39,478 971,419 242,720 8,249 720,450 Kelly Svcs Inc Cl A COM 488152208 21,745 1,124,950 229,570 10,280 885,100 Kennametal Inc. COM 489170100 20,900 642,104 257,530 12,924 371,650 Key Energy Services Inc. COM 492914106 35,483 1,827,153 519,620 26,083 1,281,450 Keycorp COM 493267108 210,236 19,147,195 4,417,178 1,454,508 13,275,509 Kindred Healthcare Inc. COM 494580103 10,132 352,300 - - 352,300 Kinetic Concepts Inc. COM 49460W208 19,502 488,650 1,950 - 486,700 Kohls Corp. COM 500255104 888 22,170 370 - 21,800 L-3 Communications Holdings COM 502424104 1,786 19,650 1,400 - 18,250 Lam Research Corp. COM COM 512807108 822 22,740 440 - 22,300 Lehman Brothers Holdings Inc COM 524908100 307 15,480 180 - 15,300 Liberty Media Corp-Ent Series COM 53071m500 828 34,170 570 - 33,600 Lifepoint Hospitals COM 53219l109 28,845 1,019,246 227,432 10,274 781,540 Lilly (Eli) & Co COM 532457108 129,130 2,797,448 869,445 178,134 1,749,869 Limited Inc. COM 532716107 906 53,760 860 - 52,900 Lincare Holdings Inc COM 532791100 6,488 228,450 10,050 - 218,400 Lincoln National Corp COM 534187109 783 17,280 280 - 17,000 Loews Corp COM 540424108 953 20,320 220 - 20,100 Lowes Cos. COM 548661107 308,256 14,855,734 2,980,572 1,192,254 10,682,908 M&T Bank Corporation COM 55261F104 863 12,230 130 - 12,100 MB Financial Inc. COM 55264U108 9,815 436,796 253,875 12,821 170,100 MCG Capital Corp. COM 58047P107 1,031 259,160 510 - 258,650 MKS Instrument Inc Com COM 55306N104 22,358 1,020,922 351,374 16,365 653,183 Macy's Inc. COM 55616p104 63,321 3,260,603 708,264 297,367 2,254,972 Marathon Oil Corp COM 565849106 3,081 59,400 600 - 58,800 Marshall & Ilsley Corp. COM 571837103 1,450 94,595 6,846 - 87,749 Masco COM 574599106 726 46,130 830 - 45,300 Matrix Service Co. COM 576853105 5,833 252,950 - - 252,950 Mattel Inc COM 577081102 2,520 147,170 10,620 - 136,550 Merck & Co COM 589331107 2 60 - 60 - Metlife COM 59156r108 854 16,190 190 - 16,000 Mettler-Toledo International COM 592688105 18,071 190,500 - - 190,500 Microsoft COM 594918104 417 15,175 11,930 545 2,700 Mirant Corp COM 60467r100 399 10,188 19 - 10,169 Morgan Stanley COM 617446448 672 18,620 220 - 18,400 Mueller Water Products Inc. COM 624758108 13,294 1,647,279 407,130 21,249 1,218,900 Mueller Water Products Inc. Cl COM 624758207 3,127 366,196 25,350 - 340,846 Myers Industries Inc COM 628464109 1,801 220,959 195,200 17,109 8,650 Mylan Inc. COM 628530107 1,017 84,250 6,350 - 77,900 Nal Oil & Gas Trust-UTS (Canad COM 628949109 18,789 1,128,600 82,900 - 1,045,700 Nash Finch Co Com COM 631158102 23,555 687,327 301,870 10,457 375,000 Natco Group Inc - A COM 63227W203 6,402 117,400 - - 117,400 National Oilwell Varco Inc. COM 637071101 706 7,959 88 - 7,871 New Flyer Industries Inc.-IDS COM 64438r306 12,433 1,025,500 104,900 - 920,600 Newalta Income Fund COM 65020r109 768 39,200 - - 39,200 Newfield Expl. CO Com. COM 651290108 2,212 33,900 2,300 - 31,600 Newmont Mining Corp COM 651639106 446 8,560 5,060 - 3,500 Noble Drilling Corp COM g65422100 1,149 17,690 190 - 17,500 Noble Energy COM 655044105 2,605 25,900 1,750 - 24,150 Nordstrom Inc. COM 655664100 838 27,650 450 - 27,200 Norfolk Southern Corp. COM 655844108 1,223 19,520 220 - 19,300 Northrop Grumman Corp COM 666807102 129,966 1,942,696 407,251 262,146 1,273,299 Northwest Pipe Company COM 667746101 11,369 203,750 - - 203,750 Nucor Corp COM 670346105 1,216 16,280 80 - 16,200 Nuveen Pfd. & Cvrt Income Fund COM 67073d102 1,875 190,000 190,000 - - Nuveen Quality Preferred II COM 67072c105 1,615 161,200 161,200 - - OM Group Inc COM 670872100 14,235 434,141 161,430 8,161 264,550 Occidental Petroleum COM 674599105 166,113 1,848,570 369,772 158,470 1,320,328 Odyssey Healthcare Inc COM 67611V101 8,423 864,800 - - 864,800 Odyssey Re Holdings Corp COM 67612w108 20,152 567,650 - - 567,650 Oil States International Inc COM 678026105 19,904 313,740 140 - 313,600 Old Republic Intl Corp COM 680223104 753 63,605 330 63,275 - PNC Financial Services Group COM 693475105 283,638 4,967,396 1,152,253 305,988 3,509,155 PPG Industries Inc. COM 693506107 2,442 42,560 2,060 - 40,500 PPL Corp. COM 69351t106 2,229 42,650 2,800 - 39,850 Paccar Inc COM 693718108 1 33 - 33 - Pan American Silver Corp. COM 697900108 38,876 1,124,233 349,030 18,053 757,150 Parallel Petroleum Corp. COM 699157103 24,063 1,195,374 552,730 20,144 622,500 Park Electrochemical Corp. COM 700416209 20,917 860,447 260,327 13,353 586,767 Parker Hannifin Corp COM 701094104 2,050 28,749 1,924 - 26,825 Pengrowth Energy Trust COM 706902509 34,217 1,701,500 368,000 - 1,333,500 Penn West Energy Trust COM 707885109 45,457 1,343,300 813,000 - 530,300 Penney (J C) Co COM 708160106 834 22,970 270 - 22,700 Penske Auto Group COM 70959w103 14,124 958,177 411,410 21,967 524,800 Perkinelmer Inc. COM 714046109 13,431 482,250 - - 482,250 Perrigo Company COM 714290103 14,560 458,300 - - 458,300 Petrohawk Energy Corp COM 716495106 7,127 153,900 153,200 700 - Petroquest Energy Inc. COM 716748108 33,820 1,257,266 539,146 21,596 696,524 Pfizer COM 717081103 313,326 17,935,111 3,682,308 1,492,116 12,760,687 Phillip Morris International COM 718172109 288,956 5,850,491 1,945,931 343,947 3,560,613 Phillips-Van Heusen COM 718592108 12,484 340,894 130 - 340,764 Pilgrims Pride Corp COM 721467108 3,815 293,696 12,450 246 281,000 Pine Brook Cap Inc. Class A COM 72246F109 - 265,913 265,913 - - Pinnacle Gas Resources, Inc. 1 COM 723464103 2,520 700,000 - - 700,000 Pioneer High Income Trust COM 72369H106 5,490 392,400 277,100 - 115,300 Pitney Bowes Inc COM 724479100 883 25,890 290 - 25,600 Plantronics Inc New Com COM 727493108 12,250 548,855 136,700 7,455 404,700 Platinum Underwriters Holdings COM G7127P100 31,028 951,488 318,380 10,708 622,400 Primary Energy Recycling-EIS ( COM 74158d304 2,155 316,800 - - 316,800 Progress Energy COM 743263105 5,296 126,600 92,700 - 33,900 Progressive Corp Ohio COM 743315103 992 52,990 590 - 52,400 Protective Life Corp Com COM 743674103 8,157 214,370 11,020 - 203,350 Quest Diagnostics Inc. COM 74834L100 1 30 - 30 - REGIS CORP MINN COM 758932107 22,844 866,945 214,110 9,035 643,800 RPC Inc. COM 749660106 13,637 811,700 - - 811,700 RTI International Metals, Inc. COM 74973W107 24,477 687,184 74,429 4,405 608,350 Ralcorp Holdings Inc COM 751028101 35,819 724,487 151,260 7,177 566,050 Regal Beloit COM 758750103 34,118 807,531 203,570 10,011 593,950 Regal Entertainment Group COM 758766109 1,890 123,700 123,700 - - Regions Financial Corp. New COM 7591ep100 4,531 415,305 415,305 - - Renaissancere Holdings LTD COM G7496G103 229 5,120 1,320 - 3,800 Royal Carribean Cruises COM V7780T103 710 31,600 2,400 - 29,200 Ruby Tuesday Inc Com COM 781182100 1 236 - 236 - Ruddick Corp. COM 781258108 28,959 844,036 177,440 8,896 657,700 Russell 1000 Value Index Fund COM 464287598 6,582 95,322 50,088 40,376 4,858 SCIELE PHARMA INC COM 808627103 11,107 574,011 335,220 18,091 220,700 Safety Insurance Group Inc. COM 78648T100 12,606 353,598 211,970 10,828 130,800 San Juan Basin Royalty Tr COM 798241105 4,663 100,800 100,800 - - Sanderson Farms Inc. COM 800013104 314 9,094 8,790 304 - Scansource Inc COM 806037107 10,965 409,750 - - 409,750 Seagate Technology COM G7945J104 2,259 118,090 9,890 - 108,200 Selective Ins Group Com COM 816300107 9,024 481,000 - - 481,000 Sempra Energy COM 816851109 908 16,080 180 - 15,900 Sherwin-Williams COM 824348106 2,464 53,650 2,850 - 50,800 Sierra Pacific Resources COM 826428104 5,734 451,150 - - 451,150 Sims Group Limited COM 829160100 10,241 256,660 - - 256,660 Southern Copper Corp. COM 84265V105 1,024 9,600 400 - 9,200 Southern Union Co COM 844030106 22,808 844,100 - 200 843,900 Sovereign Bancorp. Inc. COM 845905108 45,525 6,185,450 1,361,998 645,305 4,178,147 St. Mary Land & Exploration COM 792228108 32,790 507,278 211,300 10,578 285,400 Stancorp Financial Group COM 852891100 21,178 450,982 140,650 6,932 303,400 Staples Inc COM 855030102 329,984 13,894,058 2,689,378 988,881 10,215,799 Sterling Construction Co COM 859241101 12,890 649,050 - - 649,050 Sterling Financial Corp./Spokane COM 859319105 1 203 - 203 - Stewart W P and Co. LTD COM G84922106 145 95,200 95,200 - - Stone Energy Corp COM 861642106 25,702 389,960 99,500 4,960 285,500 Suburban Propane Partners COM 864482104 16,643 435,350 - - 435,350 Sunoco Inc. COM 86764P109 575 14,140 340 - 13,800 Suntrust Banks Inc COM 867914103 973 26,864 180 - 26,684 Superior Energy Services Inc. COM 868157108 36,132 655,283 177,260 8,623 469,400 Superior Essex Inc COM 86815v105 19,077 427,450 200 - 427,250 Supervalu Inc. COM 868536103 1,768 57,250 4,600 - 52,650 Sybase Inc. COM 871130100 28,508 968,986 307,360 17,526 644,100 Syneron Medical Ltd. COM M87245102 9,722 591,343 278,140 14,803 298,400 TCF Financial Corp. Com COM 872275102 14,142 1,175,586 275,370 15,716 884,500 TJX Companies Inc COM 872540109 1,064 33,800 2,350 - 31,450 Teco Energy Inc. COM 872375100 7,677 357,250 - - 357,250 Tenneco Inc. COM 880349105 9,395 694,362 284,950 14,412 395,000 Terex Corp New Com COM 880779103 790 15,370 270 - 15,100 Tesoro Petroleum Corp COM 881609101 414 20,960 660 - 20,300 Texas Inds. Inc. COM 882491103 7,738 137,850 - - 137,850 The Men's Wearhouse Inc. COM 587118100 16,051 985,306 258,460 8,096 718,750 Thomas & Betts Corp COM 884315102 6,141 162,250 - - 162,250 Tortoise Energy Infrastructure COM 89147L100 9,397 345,857 - - 345,857 Tower Group Inc. COM 891777104 9,911 467,700 - - 467,700 Transocean Sedco Forex Inc COM G90073100 1,032 6,770 70 - 6,700 Travelers Cos Inc/THE COM 89417e109 23,795 548,270 32,410 9,800 506,060 Triumph Group Inc New Com COM 896818101 5,294 112,400 - - 112,400 Tyco Electronics Ltd. COM G9144P105 3,236 90,351 24,226 3,261 62,864 Tyco International Ltd COM G9143X208 7,830 195,553 39,013 6,589 149,951 UCBH Holdings Inc COM 90262t308 1 421 - 421 - U S Bancorp COM 902973304 184,250 6,606,293 1,674,221 403,968 4,528,104 URS Corp New Com COM 903236107 35,500 845,837 158,900 7,137 679,800 UST Inc. COM 902911106 138,330 2,533,053 483,168 142,962 1,906,923 United Fire and Casualty Co. COM 910331107 20,043 744,249 192,700 10,299 541,250 United Technologies Corp COM 913017109 185,982 3,014,301 604,702 229,853 2,179,746 UnitedHealth Group Inc. COM 91324p102 383,706 14,617,371 3,129,198 1,144,044 10,344,129 Universal Corp/Va COM 913456109 9 196 - 196 - Uranium Resources Inc COM 916901507 9,178 2,487,294 409,325 23,607 2,054,362 VF Corp COM 918204108 1,001 14,060 160 - 13,900 Valero Energy Corp. COM 91913Y100 135,430 3,288,726 680,959 275,540 2,332,227 Vector Group Ltd COM 92240M108 43,606 2,703,387 1,058,808 20,186 1,624,393 Vectren Corp. COM 92240g101 15,296 490,094 302,380 15,764 171,950 Ventas Inc. COM 92276F100 9,727 228,500 3,050 - 225,450 Verizon Communications COM 92343V104 188,243 5,317,604 962,761 445,298 3,909,545 Vermilion Energy Trust (Canadi COM 923728109 4,004 91,800 91,800 - - WAJAX Income Fund (Canadian) COM 930787106 2,476 75,800 - - 75,800 WEIS MARKETS INC COM 948849104 24,193 745,078 225,290 11,188 508,600 WR Berkley Corp COM 084423102 811 33,580 580 - 33,000 Wachovia Corp COM 929903102 236,155 15,206,365 3,386,767 1,264,038 10,555,560 Waddell & Reed Financial - A COM 930059100 25,848 738,298 196,890 10,158 531,250 Walter Industries Inc. COM 93317Q105 6,918 63,600 2,500 1,050 60,050 Washington Mutual Inc. COM 939322103 165,066 33,481,867 9,160,358 2,104,749 22,216,760 Watts Water Technologies A COM 942749102 12,662 508,500 - - 508,500 Wells Fargo & Co (New) COM 949746101 778 32,740 340 - 32,400 Wesco Intl Inc Com COM 95082P105 15,391 384,400 600 - 383,800 Western Digital Corp COM 958102105 1,142 33,080 380 - 32,700 Whirlpool Corp COM 963320106 1,419 22,980 1,130 - 21,850 Williams Coal Seam Gas Trust COM 969450105 626 57,500 57,500 - - Windstream Corp. COM 97381W104 10,790 874,430 46,530 - 827,900 Wolverine World Wide Inc COM 978097103 10,585 396,900 - - 396,900 Worthington Industries Inc COM 981811102 4,781 233,200 - - 233,200 Wyeth COM 983024100 477,826 9,963,020 2,015,767 894,040 7,053,213 Yamana Gold Inc. COM 98462Y100 2,809 169,840 15,440 - 154,400 ABN AMRO CAP VII (ABNA) - 6.08 PRD 00372Q201 3,432 200,000 200,000 - - Aegon NV 6.875% Preferred PRD ep0215871 1,448 80,000 80,000 - - Alabama Power 5.3% Pfd. PRD 010392561 1,756 80,000 80,000 - - Arch Capital Group Ltd. Pfd. S PRD g0450a154 775 33,400 33,400 - - Arch Capital Group Ltd. Pfd. S PRD g0450A147 7,919 340,000 340,000 - - Aspen Insurance (AHL) 7.4010% PRD g05384139 432 20,000 20,000 - - Axis Capital 7.5000% PRD 05461t206 4,278 50,000 50,000 - - Axis Capital Holdings 7.25 % P PRD G0692U208 4,580 218,100 218,100 - - CIT Group Inc. 6.35% Series A PRD 125581207 761 60,000 60,000 - - Chevy Chase PFD 8% PRD 166779207 4,543 189,300 189,300 - - DB Cap Funding VIII 6.375% Per PRD 25153u204 6,189 300,000 300,000 - - Dairy Farmers (Dairy) 7.875% S PRD 23385H208 11,393 140,000 140,000 - - Endurance Specialty Holding Pf PRD 29267H208 8,487 412,000 412,000 - - Fannie Mae 5.1% Series Preferr PRD 313586604 6,825 200,000 200,000 - - Fannie Mae 6.75% Preferred PRD 313586778 22,578 1,060,000 1,060,000 - - Fannie Mae 8.25%Pfd. Series PRD 313586752 34,425 1,500,000 1,500,000 - - Fannie Mae Floating Preferred PRD 313586786 5,068 280,000 280,000 - - Fannie Mae Floating Quarterly PRD 313586794 3,773 80,000 80,000 - - Federal Home Loan Mortgage PRD 313400772 3,462 100,000 100,000 - - Franklin Bank 7.50% Series A PRD 352451405 187 48,700 48,700 - - Freddie Mac 6.4200% Series PRD 313400699 992 25,000 25,000 - - Goldman Sachs GP 6.2% Series P PRD 38144X500 1,718 80,000 80,000 - - HSBC Holdings PLC 6.2000% Seri PRD 404280604 2,058 100,000 100,000 - - Hilltop Holdings Inc 8.25% Pfd PRD 432748200 3,798 200,000 200,000 - - LTC Properties 8% Series F PRD 502175607 1,846 80,000 80,000 - - Lehman Brothers Holding 6.5% S PRD 524908720 2,389 140,500 140,500 - - Merrill Lynch 6.7% Series A PRD 59022Y840 3,854 200,000 200,000 - - Metlife Inc 6.5% Series B Pfd. PRD 59156r603 1,070 50,000 50,000 - - Morgan Stanley 6.18% Series A PRD 61747S504 1,750 100,000 100,000 - - Odyssey RE HLDGS 0.00% Series PRD 67612W405 3,258 152,100 152,100 - - Odyssey Re Holdings Pfd. 8.125 PRD 67612w306 5,500 245,000 245,000 - - Omega Healthcare 8.375% Pfd Se PRD 681936407 9,600 400,000 400,000 - - PPL Electric Uti PFD 6.25% PRD 69351u863 2,839 120,000 120,000 - - Red Lion Hotels 9.50% 2/19/44 PRD 75670L104 2,015 81,250 81,250 - - S Finance Pfd. (SANTAN) 6.8% S PRD 80281R706 2,196 100,000 100,000 - - Scottish Re Grp Ltd. 7.2500% S PRD G73537402 1,732 577,400 577,400 - - Southern Union 7.55% Yield PRD 844030601 9,638 385,500 385,500 - - CIT Group, Inc 8.75% Convertib PRD 125581603 18,396 450,000 225,000 - 225,000 Fannie Mae 5.375% Convertible PRD 313586810 30,300 505 505 - - Fannie Mae Convertible Preferr PRD 313586745 115,530 3,000,000 1,500,000 - 1,500,000 Universal Corp. 6.75% Conv. Pe PRD 913456307 30,808 25,000 25,000 - - Washington Mutual Convertible PRD 939322780 73,246 1,300 330 20 950
Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None Form 13F Information Table Entry Total: 417 Form 13F Information Table Value Total: 13,887,994 (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-----