N-Q 1 form-172.htm FORM N-Q form-172
UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549 
 
 
FORM N-Q 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT 
INVESTMENT COMPANY 
 
Investment Company Act file number 811-08673 
 
DREYFUS INVESTMENT PORTFOLIOS 
(Exact name of Registrant as specified in charter) 
 
 
c/o The Dreyfus Corporation 
200 Park Avenue 
New York, New York 10166 
(Address of principal executive offices) (Zip code) 
 
Michael A. Rosenberg, Esq. 
200 Park Avenue 
New York, New York 10166 
(Name and address of agent for service) 
 
Registrant's telephone number, including area code: (212) 922-6000 

Date of fiscal year end:    12/31 
Date of reporting period:    09/30/07 

FORM N-Q

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS     
Dreyfus Investment Portfolios, Core Value Portfolio     
September 30, 2007 (Unaudited)         
 
 
Common Stocks--100.1%    Shares    Value ($) 
Banks--7.0%         
Bank of America    40,970    2,059,562 
JPMorgan Chase & Co.    36,980    1,694,424 
U.S. Bancorp    12,370    402,396 
Wachovia    26,160    1,311,924 
        5,468,306 
Consumer Discretionary--6.3%         
Gap    25,710    474,092 
Johnson Controls    3,570    421,653 
Lowe's Cos.    11,630    325,873 
Macy's    7,710    249,187 
McDonald's    7,780    423,777 
News, Cl. A    32,160    707,198 
Omnicom Group    18,590    893,993 
Royal Caribbean Cruises    9,480    370,004 
Time Warner    20,510    376,564 
TJX Cos.    15,460    449,422 
Toll Brothers    10,320 a    206,297 
        4,898,060 
Consumer Staples--10.4%         
Altria Group    22,970    1,597,104 
Cadbury Schweppes, ADR    11,770    547,540 
Clorox    8,860    540,371 
Coca-Cola Enterprises    34,550    836,801 
Colgate-Palmolive    5,360    382,275 
CVS    10,520    416,908 
Kraft Foods, Cl. A    28,795    993,715 
Procter & Gamble    32,500    2,286,050 
Wal-Mart Stores    12,450    543,443 
        8,144,207 
Energy--14.5%         
Anadarko Petroleum    7,710    414,412 
Chesapeake Energy    10,830 b    381,866 
Chevron    29,020    2,715,692 
Devon Energy    14,940    1,243,008 
EOG Resources    10,100    730,533 
Exxon Mobil    28,544    2,642,033 
Hess    9,260    616,068 
Marathon Oil    6,590    375,762 
Occidental Petroleum    22,160    1,420,013 
XTO Energy    12,900    797,736 
        11,337,123 
Financial--21.1%         
American International Group    19,496    1,318,904 
AON    9,520    426,591 
Capital One Financial    12,100    803,803 
Chubb    12,410    665,672 
CIT Group    11,360    456,672 
Citigroup    55,110    2,571,984 
Fannie Mae    6,240    379,454 
Franklin Resources    3,140    400,350 
Freddie Mac    13,090    772,441 
Genworth Financial, Cl. A    21,120    649,018 
Goldman Sachs Group    4,050    877,797 

Lincoln National    11,040    728,309 
Merrill Lynch & Co.    15,710    1,119,809 
MetLife    11,920    831,182 
Morgan Stanley    10,470    659,610 
PMI Group    10,900    356,430 
PNC Financial Services Group    6,590    448,779 
Principal Financial Group    7,270    458,664 
Prudential Financial    5,940    579,625 
T. Rowe Price Group    7,540    419,903 
Wells Fargo & Co.    45,190    1,609,668 
        16,534,665 
Health Care--8.3%         
Abbott Laboratories    20,720    1,111,006 
Aetna    7,290    395,628 
Amgen    10,540 a    596,248 
Baxter International    13,460    757,529 
Covidien    9,307    386,240 
Merck & Co.    20,710    1,070,500 
Schering-Plough    20,500    648,415 
Thermo Fisher Scientific    7,870 a    454,256 
WellPoint    1,140 a    89,969 
Wyeth    21,850    973,418 
        6,483,209 
Index--.5%         
iShares Russell 1000 Value Index         
Fund    4,740    407,403 
Industrial--9.3%         
Deere & Co.    2,740    406,671 
Dover    7,640    389,258 
Eaton    5,660    560,566 
General Electric    93,600    3,875,040 
Honeywell International    8,000    475,760 
Raytheon    7,480    477,374 
Tyco International    5,717    253,492 
Union Pacific    3,790    428,497 
Waste Management    10,600    400,044 
        7,266,702 
Information Technology--7.6%         
Accenture, Cl. A    18,840    758,310 
Automatic Data Processing    10,540    484,102 
Cisco Systems    44,080 a    1,459,489 
Hewlett-Packard    17,670    879,789 
Intel    22,130    572,282 
International Business Machines    4,170 b    491,226 
Microsoft    19,630    578,300 
NCR    9,690 a    482,562 
Tyco Electronics    5,717    202,553 
        5,908,613 
Materials--2.8%         
Air Products & Chemicals    5,000    488,800 
Allegheny Technologies    4,050    445,297 
Dow Chemical    9,690    417,251 
E.I. du Pont de Nemours & Co.    7,340    363,770 
Freeport-McMoRan Copper & Gold    4,470    468,858 
        2,183,976 
Telecommunications--6.1%         
AT & T    74,330    3,144,902 
Verizon Communications    36,110    1,598,951 
        4,743,853 
Utilities--6.2%         

Constellation Energy Group    7,920    679,457 
Entergy    8,780    950,786 
Exelon    11,160    841,018 
Mirant    12,310 a    500,771 
NRG Energy    15,840 a,b    669,874 
Questar    14,700    772,191 
Southern    11,250    408,150 
        4,822,247 
Total Common Stocks         
(cost $62,326,753)        78,198,364 
 
Other Investment--.0%         
Registered Investment Company;         
Dreyfus Institutional Preferred         
Plus Money Market Fund         
(cost $15,000)    15,000 c    15,000 
Investment of Cash Collateral for         
Securities Loaned--2.0%         
Registered Investment Company;         
Dreyfus Institutional Cash         
Advantage Plus Fund         
(cost $1,541,890)    1,541,890 c    1,541,890 
 
Total Investments (cost $63,883,643)    102.1%    79,755,254 
Liabilities, Less Cash and Receivables    (2.1%)    (1,620,242) 
Net Assets    100.0%    78,135,012 

ADR - American Depository Receipts 
a    Non-income producing security. 
b    All or a portion of these securities are on loan. At September 30, 2007, the total market value of the portfolio's securities 
    on loan is $1,388,669 and the total market value of the collateral held by the portfolio is $1,541,890. 
c    Investment in affiliated money market mutual fund. 

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

STATEMENT OF INVESTMENTS         
Dreyfus Investment Portfolios, Midcap Stock Portfolio     
September 30, 2007 (Unaudited)         
 
 
Common Stocks--99.4%    Shares    Value ($) 
Consumer Discretionary--14.2%         
Aeropostale    31,275 a,b    596,101 
American Eagle Outfitters    86,000    2,262,660 
AnnTaylor Stores    31,950 b    1,011,856 
Apollo Group, Cl. A    29,650 b    1,783,448 
AutoZone    8,300 b    963,962 
Big Lots    39,800    1,187,632 
Brinker International    46,250    1,269,100 
Choice Hotels International    35,550 a    1,339,169 
Coach    38,100 b    1,800,987 
Dollar Tree Stores    91,400 a,b    3,705,356 
EchoStar Communications, Cl. A    59,400 b    2,780,514 
Expedia    45,950 a,b    1,464,886 
Family Dollar Stores    32,250 a    856,560 
Gentex    106,750 a    2,288,720 
Hanesbrands    40,650 a,b    1,140,639 
Harley-Davidson    23,450 a    1,083,624 
Hasbro    58,250 a    1,624,010 
Idearc    26,350 a    829,234 
International Game Technology    15,550    670,205 
International Speedway, Cl. A    48,700    2,233,382 
Lennar, Cl. A    32,200 a    729,330 
M.D.C. Holdings    17,350    710,309 
Marvel Entertainment    25,250 a,b    591,860 
Nordstrom    24,050 a    1,127,704 
NutriSystem    14,350 a,b    672,871 
NVR    2,125 a,b    999,281 
Phillips-Van Heusen    28,900    1,516,672 
Priceline.com    15,750 a,b    1,397,812 
Rent-A-Center    44,800 a,b    812,224 
Ross Stores    41,500 a    1,064,060 
Scholastic    29,800 a,b    1,038,828 
Shaw Communications, Cl. B    23,350    580,014 
Snap-On    23,700    1,174,098 
Sotheby's    40,100 a    1,916,379 
Speedway Motorsports    21,950 a    812,150 
Tiffany & Co.    26,900 a    1,408,215 
Toll Brothers    22,750 a,b    454,772 
Warnaco Group    40,250 b    1,572,568 
        49,471,192 
Consumer Staples--2.3%         
Herbalife    23,950    1,088,767 
Hormel Foods    76,050    2,721,069 
NBTY    20,950 b    850,570 
Reynolds American    54,000    3,433,860 
        8,094,266 
Energy--8.8%         
Alon USA Energy    12,900 a    435,762 
Calumet Specialty Products         
Partners    15,500    761,980 
Cimarex Energy    63,550 a    2,367,238 
Frontier Oil    38,850    1,617,714 
Grant Prideco    22,750 b    1,240,330 
Hess    11,950    795,033 
Holly    11,750    703,002 
Newfield Exploration    36,000 b    1,733,760 

Nexen    34,400    1,050,576 
Noble Energy    71,700    5,021,868 
Overseas Shipholding Group    21,150 a    1,624,954 
Patterson-UTI Energy    47,600 a    1,074,332 
Pride International    25,150 b    919,232 
Sunoco    18,300 a    1,295,274 
Superior Energy Services    53,350 b    1,890,724 
Swift Energy    26,400 b    1,080,288 
Tesoro    32,050    1,474,941 
Tidewater    51,150 a    3,214,266 
Unit    29,750 b    1,439,900 
Western Refining    20,850 a    846,093 
        30,587,267 
Financial--15.1%         
AllianceBernstein Holding, LP    24,850    2,188,539 
AMB Property    49,350    2,951,623 
American Financial Group/OH    61,175    1,744,711 
AmeriCredit    22,300 a,b    392,034 
Ameriprise Financial    29,350    1,852,278 
Arch Capital Group    33,250 b    2,474,132 
CapitalSource    77,500 a    1,568,600 
CIT Group    29,800    1,197,960 
Discover Financial Services    42,450    882,960 
Endurance Specialty Holdings    26,400    1,096,920 
Everest Re Group    26,300    2,899,312 
Federated Investors, Cl. B    23,850 a    946,845 
First Marblehead    21,850 a    828,770 
HCC Insurance Holdings    98,750    2,828,200 
Hospitality Properties Trust    125,100    5,085,315 
Jefferies Group    75,350 a    2,096,990 
Jones Lang LaSalle    9,800 a    1,007,048 
Lincoln National    42,750    2,820,217 
M & T Bank    13,950 a    1,443,127 
National Retail Properties    66,300 a    1,616,394 
Nationwide Financial Services, Cl.         
A    30,250 a    1,628,055 
Philadelphia Consolidated Holding    28,300 b    1,169,922 
Phoenix Cos.    66,250    934,787 
Potlatch    18,800    846,564 
ProLogis    31,750    2,106,612 
Reinsurance Group of America    16,400 a    929,716 
SEI Investments    45,600    1,243,968 
SL Green Realty    12,800 a    1,494,656 
Taubman Centers    21,000    1,149,750 
Unum Group    63,850 a    1,562,409 
W.R. Berkley    36,100    1,069,643 
XL Capital, Cl. A    10,750    851,400 
        52,909,457 
Health Care--11.7%         
AmerisourceBergen    38,500    1,745,205 
Cephalon    20,450 a,b    1,494,077 
CIGNA    40,650    2,166,238 
Community Health Systems    31,900 b    1,002,936 
Covance    9,350 a,b    728,365 
Coventry Health Care    29,800 b    1,853,858 
Dentsply International    83,400    3,472,776 
Edwards Lifesciences    54,100 a,b    2,667,671 
Endo Pharmaceuticals Holdings    24,200 b    750,442 
Forest Laboratories    65,700 b    2,449,953 
Genzyme    44,200 b    2,738,632 
Health Net    40,100 b    2,167,405 
Henry Schein    30,600 b    1,861,704 

Humana    26,100 b    1,823,868 
Intuitive Surgical    9,500 a,b    2,185,000 
Invitrogen    19,950 b    1,630,513 
King Pharmaceuticals    89,100 a,b    1,044,252 
Lincare Holdings    65,500 b    2,400,575 
Medicis Pharmaceutical, Cl. A    29,050 a    886,315 
Mentor    12,950 a    596,348 
Omnicare    22,250    737,143 
Sepracor    46,200 a,b    1,270,500 
Valeant Pharmaceuticals         
International    56,750 a    878,490 
ViroPharma    50,100 a,b    445,890 
Vital Signs    16,400    855,096 
Zimmer Holdings    10,800 b    874,692 
        40,727,944 
Industrial--17.0%         
Acuity Brands    34,150 a    1,723,892 
AGCO    62,250 a,b    3,160,433 
Allied Waste Industries    74,950 a,b    955,613 
Applied Industrial Technologies    61,350    1,891,421 
Arkansas Best    22,800 a    744,648 
Avis Budget Group    68,100 b    1,558,809 
Con-way    35,250    1,621,500 
Continental Airlines, Cl. B    28,250 a,b    933,098 
Cummins    8,250    1,055,093 
Deluxe    42,050    1,549,122 
Dun & Bradstreet    27,900    2,751,219 
EMCOR Group    42,750 b    1,340,640 
Equifax    54,000    2,058,480 
Fastenal    22,650 a    1,028,537 
Fluor    11,100    1,598,178 
GATX    15,000    641,250 
Granite Construction    33,750 a    1,789,425 
Harsco    23,150    1,372,101 
Herman Miller    46,250    1,255,225 
Hubbell, Cl. B    19,550 a    1,116,696 
Jacobs Engineering Group    18,300 b    1,383,114 
KBR    61,450 b    2,382,417 
Manitowoc    30,400    1,346,112 
Manpower    32,800    2,110,680 
MSC Industrial Direct, Cl. A    40,550    2,051,425 
Northwest Airlines    37,550 a,b    668,390 
Pacer International    37,550 a    715,328 
R.R. Donnelley & Sons    28,800    1,052,928 
Republic Services    67,275    2,200,565 
Rockwell Automation    23,000    1,598,730 
Ryder System    18,100    886,900 
SPX    27,550 a    2,550,028 
Teleflex    24,850    1,936,312 
Thomas & Betts    14,500 b    850,280 
Timken    50,200    1,864,930 
Titan International    27,650 a    882,588 
Trinity Industries    22,900    859,666 
W.W. Grainger    23,400 a    2,133,846 
Wabtec    39,450    1,477,797 
Werner Enterprises    37,500    643,125 
        59,740,541 
Information Technology--14.1%         
3Com    213,900 a,b    1,056,666 
ADTRAN    23,900 a    550,417 
Agilent Technologies    24,850 b    916,468 
Akamai Technologies    19,050 a,b    547,307 

ASM International    35,100    1,003,158 
ASML Holding (NY Shares)    66,600 a    2,188,476 
Atmel    153,800 a,b    793,608 
AVX    58,850 a    947,485 
BEA Systems    81,450 b    1,129,712 
CA    52,100 a    1,340,012 
Cadence Design Systems    71,550 b    1,587,695 
Dolby Laboratories, Cl. A    18,050 b    628,501 
FactSet Research Systems    24,250 a    1,662,338 
Imation    14,150 a    347,100 
InterDigital    17,450 a,b    362,611 
Intersil, Cl. A    43,200    1,444,176 
KLA-Tencor    14,300 a    797,654 
Lam Research    67,300 b    3,584,398 
Lexmark International, Cl. A    25,200 a,b    1,046,556 
Linear Technology    42,150 a    1,474,829 
MasterCard, Cl. A    4,600 a    680,662 
McAfee    85,900 b    2,995,333 
Microchip Technology    73,050 a    2,653,176 
MicroStrategy, Cl. A    13,450 a,b    1,067,123 
National Semiconductor    39,150    1,061,748 
NCR    34,100 b    1,698,180 
Novell    162,600 b    1,242,264 
Novellus Systems    65,550 a,b    1,786,893 
Parametric Technology    52,200 a,b    909,324 
Quest Software    65,950 a,b    1,131,702 
STMicroelectronics (New York         
Shares)    45,950    769,663 
Tellabs    100,150 b    953,428 
Teradyne    114,600 a,b    1,581,480 
Total System Services    56,750 a    1,576,515 
Websense    32,800 a,b    647,144 
Western Digital    94,950 b    2,404,134 
Xerox    94,150 b    1,632,561 
Zoran    45,950 b    928,190 
        49,128,687 
Materials--8.0%         
Airgas    32,550    1,680,557 
Ashland    37,700    2,269,917 
Celanese, Ser. A    27,350    1,066,103 
Commercial Metals    63,100    1,997,115 
Eastman Chemical    24,900    1,661,577 
Greif, Cl. A    18,050    1,095,274 
H.B. Fuller    15,250    452,620 
International Paper    54,200 a    1,944,154 
Louisiana-Pacific    31,500    534,555 
NOVA Chemicals    34,250    1,322,050 
OM Group    16,450 b    868,725 
Packaging Corp. of America    33,350    969,485 
Pactiv    46,950 b    1,345,587 
PPG Industries    11,700    883,935 
Quanex    28,500 a    1,338,930 
Reliance Steel & Aluminum    16,900    955,526 
RPM International    74,800 a    1,791,460 
Sonoco Products    48,700    1,469,766 
Steel Dynamics    36,000    1,681,200 
United States Steel    15,550    1,647,367 
Worthington Industries    36,100 a    850,516 
        27,826,419 
Telecommunication Services--.6%         
Embarq    9,650    536,540 
Windstream    99,100 a    1,399,292 

        1,935,832 
Utilities--7.6%         
AGL Resources    80,450    3,187,429 
Alliant Energy    49,550    1,898,756 
Atmos Energy    33,750    955,800 
Constellation Energy Group    21,500    1,844,485 
Integrys Energy    46,900    2,402,687 
Northeast Utilities    78,600    2,245,602 
OGE Energy    36,550    1,209,805 
ONEOK    48,400    2,294,160 
Pepco Holdings    85,350    2,311,278 
Portland General Electric    31,000    861,800 
Puget Energy    48,050 a    1,175,784 
Sempra Energy    43,050 a    2,502,066 
UGI    83,500    2,169,330 
WGL Holdings    47,200    1,599,608 
        26,658,590 
Total Common Stocks         
(cost $330,987,666)        347,080,195 
 
Other Investment--.5%         
Registered Investment Company;         
Dreyfus Institutional Preferred         
Plus Money Market Fund         
(cost $1,837,000)    1,837,000 c    1,837,000 
 
Investment of Cash Collateral for         
Securities Loaned--24.2%         
Registered Investment Company;         
Dreyfus Institutional Cash         
Advantage Fund         
(cost $84,567,708)    84,567,708 c    84,567,708 
 
Total Investments (cost $417,392,374)    124.1%    433,484,903 
Liabilities, Less Cash and Receivables    (24.1%)    (84,177,832) 
Net Assets    100.0%    349,307,071 

a    All or a portion of these securities are on loan. At September 30, 2007, the total market value of the fund's securities on 
    loan is $81,583,178 and the total market value of the collateral held by the fund is $84,567,708. 
b    Non-income producing security. 
c    Investment in affiliated money market mutual fund. 

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

STATEMENT OF INVESTMENTS         
Dreyfus Investment Portfolios, Small Cap Stock Index Portfolio     
September 30, 2007 (Unaudited)         
 
 
Common Stocks--100%    Shares    Value ($) 
Consumer Discretionary--14.6%         
4Kids Entertainment    5,500 a    96,745 
Aaron Rents    41,400 b    923,220 
Arbitron    22,200    1,006,548 
Arctic Cat    11,000 b    179,960 
Audiovox, Cl. A    14,600 a,b    150,234 
Bassett Furniture Industries    1,400 b    14,532 
Big 5 Sporting Goods    17,500    327,250 
Blue Nile    12,000 a,b    1,129,440 
Bright Horizons Family Solutions    18,400 a,b    788,256 
Brown Shoe    35,175    682,395 
Building Materials Holding    26,000 b    275,080 
Cabela's    28,900 a    683,485 
California Pizza Kitchen    19,700 a,b    346,129 
Cato, Cl. A    25,250    516,110 
CEC Entertainment    25,750 a    691,902 
Champion Enterprises    56,500 a,b    620,370 
Charlotte Russe Holding    18,000 a,b    263,520 
Children's Place Retail Stores    16,900 a,b    410,332 
Christopher & Banks    25,350 b    307,242 
CKE Restaurants    47,000 b    761,870 
Coachmen Industries    9,800    65,660 
Cost Plus    10,400 a,b    41,808 
CPI    5,800    223,416 
Crocs    59,900 a,b    4,028,275 
Deckers Outdoor    9,500 a,b    1,043,100 
Dress Barn    37,300 a,b    634,473 
Drew Industries    14,300 a,b    581,724 
Ethan Allen Interiors    21,300 b    696,297 
Finish Line, Cl. A    27,200 b    118,048 
Fleetwood Enterprises    46,000 a,b    393,300 
Fossil    36,500 a,b    1,363,640 
Fred's, Cl. A    35,900 b    378,027 
Genesco    17,300 a,b    798,049 
Group 1 Automotive    18,500    621,045 
Guitar Center    20,500 a,b    1,215,650 
Gymboree    27,400 a,b    965,576 
Haverty Furniture Cos.    16,100 b    141,197 
Hibbett Sports    28,000 a,b    694,400 
Hot Topic    27,570 a,b    205,672 
Iconix Brand Group    44,600 a,b    1,061,034 
IHOP    13,900 b    880,287 
Interface, Cl. A    41,100    741,855 
Jack in the Box    25,000 a    1,621,000 
JAKKS Pacific    24,500 a,b    654,395 
Jo-Ann Stores    18,625 a    392,987 
JoS. A. Bank Clothiers    14,175 a,b    473,729 
K-Swiss, Cl. A    18,000    412,380 
Kellwood    20,600 b    351,230 
Keystone Automotive Industries    11,500 a    549,240 
La-Z-Boy    35,000 b    258,300 
Landry's Restaurants    11,100 b    293,706 
Libbey    8,300 b    145,416 
Lithia Motors, Cl. A    11,900 b    203,014 

Live Nation    51,200 a,b        1,088,000 
LKQ    36,900 a,b        1,284,489 
M/I Homes    8,700 b        120,843 
Maidenform Brands    15,300 a        242,964 
Marcus    21,500        412,800 
MarineMax    11,300 a,b        164,528 
Men's Wearhouse    42,900        2,167,308 
Meritage Homes    14,400 a,b        203,328 
Midas    10,800 a,b        203,796 
Monaco Coach    20,000 b        280,600 
Monarch Casino & Resort    9,800 a,b        278,810 
Movado Group    17,400        555,408 
Multimedia Games    20,000 a,b        170,400 
National Presto Industries    4,300        227,900 
Nautilus    20,000 b        159,400 
O'Charleys    17,300        262,268 
Oxford Industries    12,300 b        444,276 
P.F. Chang's China Bistro    18,200 a,b        538,720 
Panera Bread, Cl. A    24,200 a,b        987,360 
Papa John's International    21,900 a        535,236 
PEP Boys-Manny Moe & Jack    30,600 b        429,318 
PetMed Express    13,200 a,b        184,932 
Pinnacle Entertainment    44,100 a,b        1,200,843 
Polaris Industries    25,800 b        1,125,396 
Pool    35,225 b        879,920 
Pre-Paid Legal Services    6,100 a,b        338,306 
Quiksilver    89,000 a,b        1,272,700 
Radio One, Cl. D    51,600 a,b        192,468 
Rare Hospitality International    22,850 a        870,814 
Red Robin Gourmet Burgers    13,200 a        566,280 
Russ Berrie & Co.    5,400 a,b        90,720 
Ruth's Chris Steak House    11,700 a,b        166,725 
Select Comfort    44,650 a,b        622,867 
Shuffle Master    29,050 a,b        434,298 
Skechers USA, Cl. A    22,500 a,b        497,250 
Skyline    7,500 b        225,600 
Sonic    49,075 a,b        1,148,355 
Sonic Automotive, Cl. A    26,000 b        622,440 
Stage Stores    31,550        575,156 
Stamps.com    14,300 a,b        171,171 
Standard Motor Products    6,500 b        61,100 
Standard-Pacific    46,000 b        252,540 
Steak n Shake    19,400 a        291,194 
Stein Mart    20,400 b        155,244 
Sturm Ruger & Co.    15,800 a        282,978 
Superior Industries International    16,100        349,209 
Texas Roadhouse, Cl. A    36,600 a,b        428,220 
Tractor Supply    25,200 a,b        1,161,468 
Triarc Cos., Cl. B    50,000 b        625,500 
Tuesday Morning    16,800 b        151,032 
Tween Brands    23,900 a,b        784,876 
UniFirst    13,300        498,218 
Universal Electronics    10,200 a        331,500 
Universal Technical Institute    14,400 a,b        259,200 
Volcom    8,300 a,b        352,916 
Winnebago Industries    23,200 b        554,016 
WMS Industries    27,900 a,b        923,490 
Wolverine World Wide    47,300        1,296,020 
Zale    36,000 a        833,040 
Zumiez    13,200 a,b        585,684 
            64,543,988 

Consumer Staples--4.1%         
Alliance One International    68,600 a,b    448,644 
Boston Beer, Cl. A    6,400 a    311,424 
Casey's General Stores    38,200 b    1,058,140 
Central Garden & Pet, Cl. A    52,600 a    472,348 
Chattem    13,700 a,b    966,124 
Corn Products International    58,400    2,678,808 
Flowers Foods    61,249    1,335,228 
Great Atlantic & Pacific Tea    14,600 a,b    444,716 
Hain Celestial Group    30,000 a,b    963,900 
J & J Snack Foods    11,400 b    396,948 
Lance    22,400 b    515,648 
Longs Drug Stores    23,300    1,157,311 
Nash Finch    10,400 b    414,232 
Peet's Coffee & Tea    9,700 a,b    270,727 
Performance Food Group    26,600 a    801,458 
Playtex Products    43,500 a,b    795,180 
Ralcorp Holdings    20,700 a,b    1,155,474 
RC2    16,900 a,b    467,961 
Sanderson Farms    12,300    512,541 
Spartan Stores    15,700 b    353,721 
Spectrum Brands    21,000 a,b    121,800 
TreeHouse Foods    24,900 a,b    673,545 
United Natural Foods    33,200 a,b    903,704 
USANA Health Sciences    7,800 a,b    341,250 
WD-40    13,200    450,648 
        18,011,480 
Energy--6.9%         
Atwood Oceanics    20,400 a,b    1,561,824 
Bristow Group    17,500 a,b    764,925 
Cabot Oil & Gas    74,700    2,626,452 
CARBO Ceramics    15,000 b    760,950 
Dril-Quip    17,400 a,b    858,690 
Gulf Island Fabrication    8,400 b    322,476 
Helix Energy Solutions Group    71,050 a    3,016,783 
Hornbeck Offshore Services    18,200 a,b    667,940 
ION Geophysical    53,200 a    735,756 
Lufkin Industries    11,700    643,734 
Massey Energy    62,900 b    1,372,478 
Matrix Service    16,700 a    349,865 
NATCO Group, Cl. A    13,000 a    672,750 
Oceaneering International    41,000 a,b    3,107,800 
Penn Virginia    27,500    1,209,450 
Petroleum Development    10,900 a,b    483,415 
Pioneer Drilling    35,200 a,b    428,736 
SEACOR Holdings    17,200 a,b    1,635,720 
St. Mary Land & Exploration    47,500    1,694,325 
Stone Energy    21,300 a    852,213 
Superior Well Services    12,000 a    272,760 
Swift Energy    22,400 a,b    916,608 
Tetra Technologies    54,100 a,b    1,143,674 
Unit    38,500 a    1,863,400 
W-H Energy Services    23,800 a    1,755,250 
World Fuel Services    21,000 b    857,010 
        30,574,984 
Financial--15.1%         
Acadia Realty Trust    24,900 b    675,537 
Alabama National BanCorporation    11,400 b    888,288 
Anchor Bancorp Wisconsin    14,200 b    383,400 
Bank Mutual    40,300 b    475,137 
BankAtlantic Bancorp, Cl. A    33,500 b    290,445 

BankUnited Financial, Cl. A    28,100 b        436,674 
Boston Private Financial Holdings    29,000 b        807,360 
Brookline Bancorp    43,500 b        504,165 
Cascade Bancorp    22,500 b        500,850 
Cash America International    25,700 b        966,320 
Central Pacific Financial    24,000        700,800 
Chittenden    34,025 b        1,196,319 
Colonial Properties Trust    36,600        1,255,380 
Community Bank System    24,000 b        468,480 
Corus Bankshares    28,300 b        368,466 
Delphi Financial Group, Cl. A    36,000        1,455,120 
Dime Community Bancshares    16,600        248,502 
Downey Financial    14,200 b        820,760 
East West Bancorp    50,100        1,801,596 
EastGroup Properties    18,300 b        828,258 
Entertainment Properties Trust    22,000 b        1,117,600 
Essex Property Trust    19,100        2,245,587 
Financial Federal    19,850 b        555,999 
First BanCorp/Puerto Rico    67,700        643,150 
First Cash Financial Services    20,400 a,b        477,768 
First Commonwealth Financial    46,000 b        508,760 
First Financial Bancorp    27,100 b        346,338 
First Indiana    8,600        269,352 
First Midwest Bancorp/IL    38,100        1,301,496 
FirstFed Financial    11,800 a,b        584,690 
Flagstar Bancorp    27,600 b        268,548 
Franklin Bank/Houston, TX    22,200 a,b        204,240 
Fremont General    53,200 b        207,480 
Frontier Financial    30,500 b        711,565 
Glacier Bancorp    39,400 b        887,288 
Hanmi Financial    32,800 b        508,072 
Hilb, Rogal & Hobbs    26,800        1,161,244 
Independent Bank/MI    15,370 b        169,838 
Infinity Property & Casualty    14,400        579,168 
Inland Real Estate    42,900 b        664,521 
Investment Technology Group    34,300 a,b        1,474,214 
Irwin Financial    15,500 b        170,810 
Kilroy Realty    25,200 b        1,527,876 
Kite Realty Group Trust    20,400        383,520 
LaBranche & Co.    32,200 a,b        150,696 
LandAmerica Financial Group    13,200 b        514,536 
Lexington Realty Trust    46,300 b        926,463 
LTC Properties    16,700        395,289 
Medical Properties Trust    38,500 b        512,820 
Mid-America Apartment Communities    17,700 b        882,345 
Nara Bancorp    18,000 b        281,160 
National Retail Properties    56,200 b        1,370,156 
optionsXpress Holdings    33,600        878,304 
Parkway Properties/Md    11,500 b        507,610 
Philadelphia Consolidated Holding    46,500 a        1,922,310 
Piper Jaffray Cos.    12,800 a,b        686,080 
Portfolio Recovery Associates    13,300 b        705,831 
Presidential Life    15,700 b        266,272 
PrivateBancorp    14,500 b        505,180 
ProAssurance    25,900 a,b        1,395,233 
Prosperity Bancshares    25,300 b        838,948 
Provident Bankshares    25,000        783,250 
PS Business Parks    12,000        682,200 
Rewards Network    15,400 a        74,690 
RLI    16,000        907,520 
Safety Insurance Group    14,800 b        531,912 

Selective Insurance Group    43,100 b    917,168 
Senior Housing Properties Trust    61,800    1,363,308 
Signature Bank/New York, NY    20,500 a,b    722,215 
South Financial Group    55,000 b    1,250,700 
Sovran Self Storage    15,500 b    710,520 
Sterling Bancorp/NY    11,700    163,800 
Sterling Bancshares/TX    56,450    644,095 
Sterling Financial/WA    37,880    1,019,351 
Stewart Information Services    13,400    459,218 
Susquehanna Bancshares    40,500 b    814,050 
SWS Group    17,100    302,499 
Tanger Factory Outlet Centers    21,200 b    860,508 
Tower Group    14,800    387,464 
TradeStation Group    15,300 a,b    178,551 
Triad Guaranty    8,000 a,b    151,760 
Trustco Bank NY    59,000 b    644,870 
UCBH Holdings    76,300 b    1,333,724 
Umpqua Holdings    42,200 b    844,422 
United Bankshares    27,200 b    827,968 
United Community Banks/GA    32,000 b    784,640 
United Fire & Casualty    15,700    613,713 
Whitney Holding    52,000    1,371,760 
Wilshire Bancorp    13,900 b    152,483 
Wintrust Financial    17,900 b    764,151 
World Acceptance    13,100 a,b    433,348 
Zenith National Insurance    30,700 b    1,378,123 
        66,854,195 
Health Care--13.0%         
Allscripts Healthcare Solutions    39,800 a,b    1,075,794 
Alpharma, Cl. A    32,900 b    702,744 
Amedisys    19,033 a,b    731,248 
American Medical Systems Holdings    50,400 a,b    854,280 
AMERIGROUP    43,000 a,b    1,482,640 
AMN Healthcare Services    19,200 a,b    359,616 
AmSurg    22,150 a,b    511,000 
Analogic    11,100    707,736 
ArQule    23,600 a    168,268 
ArthroCare    21,000 a    1,173,690 
BIOLASE Technology    17,100 a,b    116,964 
Bradley Pharmaceuticals    10,400 a    189,280 
Cambrex    24,000 b    261,360 
Centene    35,900 a    772,209 
Chemed    18,900 b    1,174,824 
CONMED    21,500 a    601,785 
Cooper Cos.    33,500 b    1,756,070 
Cross Country Healthcare    19,700 a,b    344,159 
CryoLife    2,500 a    23,625 
Cyberonics    12,100 a    168,674 
Datascope    12,700 b    429,387 
Dionex    15,500 a,b    1,231,630 
DJO    17,200 a    844,520 
Enzo Biochem    23,066 a    261,799 
Greatbatch    20,500 a,b    545,095 
Haemonetics/Mass.    21,200 a,b    1,047,704 
HealthExtras    26,200 a,b    729,146 
Healthways    25,600 a    1,381,632 
Hologic    41,500 a,b    2,531,500 
Hooper Holmes    46,200 a    109,032 
ICU Medical    12,000 a    465,000 
IDEXX Laboratories    23,500 a,b    2,575,365 
Immucor    52,025 a    1,859,894 

Integra LifeSciences Holdings    14,500 a,b    704,410 
Invacare    24,200 b    565,796 
inVentiv Health    24,000 a    1,051,680 
Kendle International    9,700 a,b    402,841 
Kensey Nash    7,500 a,b    195,825 
LCA-Vision    17,950 b    527,550 
LHC Group    9,800 a    210,406 
Lifecell    22,000 a,b    826,540 
Mannatech    13,400 b    108,540 
Martek Biosciences    24,300 a,b    705,429 
Matria Healthcare    17,400 a,b    455,184 
MedCath    10,500 a    288,330 
Mentor    29,300 b    1,349,265 
Meridian Bioscience    27,550 b    835,316 
Merit Medical Systems    19,900 a    258,302 
MGI Pharma    62,000 a    1,722,360 
Noven Pharmaceuticals    18,800 a    299,484 
Odyssey HealthCare    25,000 a    240,250 
Omnicell    24,600 a    702,084 
Osteotech    11,300 a    84,976 
Owens & Minor    30,500    1,161,745 
Palomar Medical Technologies    14,700 a    418,803 
PAREXEL International    22,000 a,b    907,940 
Pediatrix Medical Group    37,000 a    2,420,540 
PharmaNet Development Group    15,200 a    441,256 
PharMerica    21,400 a    319,288 
Phase Forward    28,000 a    560,280 
PolyMedica    17,300 b    908,596 
Possis Medical    10,400 a,b    140,920 
PSS World Medical    55,000 a    1,052,150 
Regeneron Pharmaceuticals    45,900 a,b    817,020 
RehabCare Group    14,300 a    251,537 
Res-Care    15,200 a    347,168 
Respironics    57,300 a    2,752,119 
Savient Pharmaceuticals    29,900 a    435,045 
Sciele Pharma    25,400 a,b    660,908 
Sierra Health Services    46,000 a    1,940,740 
Sunrise Senior Living    32,700 a,b    1,156,599 
SurModics    11,800 a,b    578,318 
Symmetry Medical    25,700 a,b    429,190 
Theragenics    31,800 a    142,782 
ViroPharma    60,300 a,b    536,670 
Vital Signs    8,200    427,548 
        57,529,400 
Industrial--18.0%         
A.O. Smith    19,800 b    868,824 
AAR    27,000 a,b    819,180 
ABM Industries    37,400    747,252 
Acuity Brands    35,700 b    1,802,136 
Administaff    19,100 b    693,330 
Albany International, Cl. A    18,700 b    701,063 
Angelica    4,900    96,579 
Apogee Enterprises    24,400    632,936 
Applied Industrial Technologies    32,050    988,102 
Applied Signal Technology    10,200    137,904 
Arkansas Best    23,400 b    764,244 
Astec Industries    14,100 a    810,045 
ASV    11,300 a,b    158,539 
Baldor Electric    34,800 b    1,390,260 
Barnes Group    33,100 b    1,056,552 
Bowne & Co.    21,800 b    363,188 

Brady, Cl. A    39,100 b        1,402,908 
Briggs & Stratton    37,100 b        934,178 
C & D Technologies    12,400 a,b        61,752 
Cascade    7,500 b        488,775 
CDI    13,500        376,380 
Ceradyne    19,550 a        1,480,717 
CLARCOR    38,400 b        1,313,664 
Coinstar    24,000 a,b        772,080 
Consolidated Graphics    10,500 a        659,295 
Cubic    12,900 b        543,993 
Curtiss-Wright    33,500 b        1,591,250 
EDO    12,000        672,120 
EMCOR Group    54,000 a        1,693,440 
EnPro Industries    19,100 a,b        775,460 
Esterline Technologies    19,000 a        1,083,950 
Forward Air    21,700        646,226 
Frontier Airlines Holdings    19,400 a,b        120,086 
G & K Services, Cl. A    18,000        723,600 
Gardner Denver    39,600 a        1,544,400 
GenCorp    41,000 a,b        490,360 
Griffon    19,300 a        291,430 
Healthcare Services Group    29,775 b        603,539 
Heartland Express    44,166 b        630,690 
Heidrick & Struggles International    15,900        579,555 
Hub Group, Cl. A    29,800 a,b        894,894 
Insituform Technologies, Cl. A    18,800 a,b        286,324 
Kaman    18,300        632,448 
Kansas City Southern    58,400 a,b        1,878,728 
Kaydon    21,300 b        1,107,387 
Kirby    41,100 a,b        1,814,154 
Knight Transportation    39,875 b        686,249 
Labor Ready    36,800 a,b        681,168 
Landstar System    41,900        1,758,543 
Lawson Products    4,700        163,607 
Lennox International    49,600        1,676,480 
Lindsay    6,600 b        288,948 
Lydall    11,800 a        109,504 
Manitowoc    99,000        4,383,720 
Mesa Air Group    29,900 a,b        132,756 
Mobile Mini    25,400 29,900 a,b        613,664 
Moog, Cl. A    31,750 a        1,395,095 
Mueller Industries    31,400        1,134,796 
NCI Building Systems    14,500 29,900 a,b        626,545 
Old Dominion Freight Line    20,350 a        487,790 
On Assignment    2,000 a        18,680 
Regal-Beloit    25,200 b        1,206,828 
Robbins & Myers    13,000 b        744,770 
School Specialty    14,700 29,900 a,b        509,061 
Shaw Group    63,000 a        3,660,300 
Simpson Manufacturing    29,600 b        942,760 
SkyWest    48,400        1,218,228 
Spherion    58,200 a        480,732 
Standard Register    8,600 b        109,306 
Standex International    12,100        250,228 
Teledyne Technologies    25,600 a        1,366,784 
Tetra Tech    49,300 29,900 a,b        1,041,216 
Toro    31,300        1,841,379 
Tredegar    21,200        365,700 
Triumph Group    14,400        1,176,624 
United Stationers    23,000 a        1,276,960 
Universal Forest Products    13,700 b        409,630 

URS    42,600 a    2,404,770 
Valmont Industries    12,500    1,060,625 
Viad    16,000 b    576,000 
Vicor    13,900 b    168,468 
Volt Information Sciences    9,450 a    166,698 
Wabash National    22,400 b    252,896 
Waste Connections    53,075 a    1,685,662 
Watsco    18,500 b    858,955 
Watson Wyatt Worldwide, Cl. A    36,000    1,617,840 
Watts Water Technologies, Cl. A    20,400 b    626,280 
Woodward Governor    24,700    1,541,280 
        79,841,442 
Information Technology--19.4%         
Actel    24,900 a    267,177 
Adaptec    88,600 a,b    338,452 
Advanced Energy Industries    30,200 a    456,020 
Agilysys    17,100 b    288,990 
AMIS Holdings    46,000 a    446,660 
Anixter International    23,500 a    1,937,575 
Ansoft    12,400 a    408,952 
ANSYS    58,500 a,b    1,998,945 
Arris Group    84,100 a    1,038,635 
ATMI    27,500 a,b    818,125 
Authorize.Net Holdings    20,500 a    361,415 
Avid Technology    30,667 a,b    830,462 
Axcelis Technologies    75,700 a,b    386,827 
Bankrate    7,400 a,b    341,288 
Bel Fuse, Cl. B    12,500    433,250 
Belden    32,500 b    1,524,575 
Bell Microproducts    19,000 a    118,180 
Benchmark Electronics    55,650 a,b    1,328,366 
Black Box    12,700 b    543,052 
Blackbaud    35,500 b    896,020 
Blue Coat Systems    12,100 a,b    952,996 
Brightpoint    38,700 a,b    580,887 
Brooks Automation    55,312 a    787,643 
C-COR    31,300 a,b    359,637 
Cabot Microelectronics    18,700 a,b    799,425 
CACI International, Cl. A    24,700 a,b    1,261,923 
Captaris    22,900 a    121,141 
Catapult Communications    5,000 a    38,200 
Checkpoint Systems    30,600 a,b    807,534 
CIBER    35,500 a    277,255 
Cognex    36,000 b    639,360 
Coherent    27,400 a    878,992 
Cohu    18,900    354,375 
Comtech Telecommunications    19,300 a,b    1,032,357 
Concur Technologies    26,600 a    838,432 
CTS    29,600    381,840 
CyberSource    18,800 a,b    219,772 
Cymer    29,200 a,b    1,120,988 
Daktronics    21,000 b    571,620 
Digi International    20,500 a    291,920 
Diodes    19,050 a,b    611,505 
Ditech Networks    25,200 a,b    132,804 
DSP Group    24,400 a    386,252 
Electro Scientific Industries    21,300 a,b    510,348 
Epicor Software    46,800 a,b    644,436 
EPIQ Systems    17,200 a    323,704 
Exar    41,600 a    543,296 
FactSet Research Systems    32,000 b    2,193,600 

FARO Technologies    11,900 a    525,385 
FEI    22,600 a,b    710,318 
FLIR Systems    50,300 a,b    2,786,117 
Gentiva Health Services    24,900 a,b    478,329 
Georgia Gulf    23,200 b    322,480 
Gerber Scientific    12,600 a,b    136,710 
Gevity HR    18,000 b    184,500 
H.B. Fuller    48,300    1,433,544 
Harmonic    54,100 a,b    574,001 
Hutchinson Technology    18,600 a,b    457,560 
Informatica    70,300 a,b    1,103,710 
InfoSpace    24,400 a,b    428,464 
Insight Enterprises    36,500 a    942,065 
Intevac    11,700 a    177,840 
Itron    22,600 a,b    2,103,382 
j2 Global Communications    41,000 a    1,341,930 
JDA Software Group    18,300 a    378,078 
Keithley Instruments    13,600    144,160 
Knot    20,000 a,b    425,200 
Kopin    49,600 a    188,976 
Kulicke & Soffa Industries    42,000 a,b    356,160 
Littelfuse    19,100 a    681,679 
LoJack    15,300 a,b    290,088 
Manhattan Associates    22,900 a    627,689 
ManTech International, Cl. A    16,600 a    597,268 
MAXIMUS    16,600    723,428 
Mercury Computer Systems    10,000 a,b    102,800 
Methode Electronics    36,300    546,315 
Micros Systems    31,700 a    2,062,719 
Microsemi    54,600 a,b    1,522,248 
MIVA    5,000 a    23,600 
MKS Instruments    36,300 a,b    690,426 
MTS Systems    16,500    686,400 
Napster    28,100 a,b    91,887 
Neoware    13,000 a    210,860 
NETGEAR    25,900 a,b    787,878 
Network Equipment Technologies    7,100 a    102,950 
Newport    33,700 a,b    513,251 
Novatel Wireless    23,500 a,b    532,275 
OM Group    24,000 a    1,267,440 
Park Electrochemical    20,300    681,674 
PC-Tel    15,900 a    120,681 
Perficient    20,400 a,b    446,148 
Pericom Semiconductor    18,700 a    219,164 
Phoenix Technologies    9,900 a    106,029 
Photon Dynamics    14,300 a,b    129,415 
Photronics    34,100 a    389,081 
Planar Systems    16,000 a    107,360 
Plexus    37,600 a,b    1,030,240 
Progress Software    33,700 a    1,021,110 
Quality Systems    13,300 b    487,179 
Radiant Systems    17,500 a    277,025 
Radisys    16,200 a,b    201,690 
Rogers    11,700 a    481,923 
Rudolph Technologies    19,800 a    273,834 
ScanSource    20,600 a,b    579,066 
Secure Computing    41,400 a    402,822 
SI International    10,100 a,b    288,557 
Skyworks Solutions    123,500 a,b    1,116,440 
Smith Micro Software    18,900 a,b    303,534 
Sonic Solutions    25,000 a,b    261,750 

SPSS    15,200 a    625,328 
Standard Microsystems    16,800 a,b    645,456 
StarTek    6,000 b    60,780 
Stratasys    15,000 a,b    413,400 
Supertex    13,100 a,b    522,428 
Sykes Enterprises    24,800 a    411,928 
Symmetricom    34,400 a,b    161,680 
Synaptics    18,000 a,b    859,680 
SYNNEX    10,500 a,b    215,880 
Take-Two Interactive Software    52,300 a,b    893,284 
Technitrol    34,500    929,775 
THQ    50,750 a,b    1,267,735 
Tollgrade Communications    11,200 a    113,344 
Trimble Navigation    89,900 a    3,524,979 
TTM Technologies    27,000 a    312,390 
Tyler Technologies    23,500 a    313,725 
Ultratech    15,700 a,b    217,602 
United Online    51,500 b    773,015 
Varian Semiconductor Equipment         
Associates    56,675 a    3,033,246 
Veeco Instruments    22,500 a,b    436,050 
ViaSat    18,000 a    554,940 
Websense    41,600 a,b    820,768 
X-Rite    20,600 b    297,464 
        86,014,917 
Materials--3.8%         
A.M. Castle & Co.    10,000 b    326,000 
AMCOL International    16,100 b    532,749 
AptarGroup    54,800    2,075,276 
Arch Chemicals    21,600    1,012,608 
Brush Engineered Materials    14,000 a,b    726,460 
Buckeye Technologies    30,600 a    463,284 
Caraustar Industries    20,800 a    92,768 
Century Aluminum    22,700 a,b    1,195,155 
Chesapeake    15,500 b    131,130 
Deltic Timber    6,800 b    387,056 
Gibraltar Industries    20,400 b    377,400 
Headwaters    30,600 a,b    455,328 
Myers Industries    20,902    414,278 
Neenah Paper    10,300 b    340,827 
Omnova Solutions    29,200 a    168,776 
Penford    5,800    218,660 
PolyOne    86,000 a,b    642,420 
Quaker Chemical    6,700    157,584 
Quanex    31,550    1,482,219 
Rock-Tenn, Cl. A    26,000    751,400 
RTI International Metals    16,800 a,b    1,331,568 
Ryerson    19,600    661,304 
Schulman (A.)    22,400 b    441,952 
Schweitzer-Mauduit International    14,000    326,200 
Texas Industries    20,100 b    1,577,850 
Tronox, Cl. B    33,100 b    298,893 
Wausau Paper    35,100    391,365 
        16,980,510 
Telecommunication Services--.1%         
General Communication, Cl. A    32,400 a,b    393,336 
Utilities--5.0%         
Allete    18,500 b    828,060 
American States Water    8,850 b    345,150 
Atmos Energy    73,300    2,075,856 
Avista    39,100    795,685 

Central Vermont Public Service    10,500 b    383,670 
CH Energy Group    10,500    501,900 
Cleco    44,900    1,134,623 
El Paso Electric    34,800 a,b    804,924 
Energen    56,800    3,244,416 
Laclede Group    18,100 b    584,268 
New Jersey Resources    24,800    1,229,832 
Northwest Natural Gas    20,300 b    927,710 
Piedmont Natural Gas    54,500 b    1,367,405 
South Jersey Industries    23,000 b    800,400 
Southern Union    88,743    2,760,795 
Southwest Gas    31,500    891,135 
UGI    87,500    2,273,250 
UIL Holdings    18,100 b    570,150 
UniSource Energy    24,000    717,360 
        22,236,589 
Total Common Stocks         
(cost $316,363,471)        442,980,841 
    Principal     
Short-Term Investments--.0%    Amount ($)    Value ($) 
U.S. Treasury Bills         
3.94%, 12/13/07         
(cost $173,602)    175,000 c    173,709 
 
Other Investment--.2%    Shares    Value ($) 
Registered Investment Company;         
Dreyfus Institutional Preferred         
Plus Money Market Fund         
(cost $820,000)    820,000 d    820,000 
 
Investment of Cash Collateral for         
Securities Loaned--36.9%         
Registered Investment Company;         
Dreyfus Institutional Cash         
Advantage Plus Fund         
(cost $163,196,060)    163,196,060 d    163,196,060 
 
Total Investments (cost $480,553,133)    137.1%    607,170,610 
Liabilities, Less Cash and Receivables    (37.1%)    (164,287,670) 
Net Assets    100.0%    442,882,940 

a    Non-income producing security. 
b    All or a portion of these securities are on loan. At September 30, 2007, the total market value of the portfolio's securities 
    on loan is $155,263,732 and the total market value of the collateral held by the portfolio is $163,196,060. 
c    All or partially held by a broker as collateral for open financial futures positions. 
d    Investment in affiliated money market mutual fund. 

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

STATEMENT OF FINANCIAL FUTURES             
September 30, 2007 (Unaudited)                 
 
        Market Value        Unrealized 
        Covered by        Appreciation 
    Contracts    Contracts ($)    Expiration    at 9/30/2007 ($) 
Financial Futures Long                 
Russell 2000 E-mini    27    2,195,640    December 2007    33,662 

STATEMENT OF INVESTMENTS     
Dreyfus Investment Portfolios, Technology Growth Portfolio     
September 30, 2007 (Unaudited)         
 
 
Common Stocks--97.1%    Shares    Value ($) 
Consumer Discretionary--4.1%         
Garmin    55,862 a    6,669,923 
Energy--.7%         
Suntech Power Holdings, ADR    27,000 a,b    1,077,300 
Information Technology--91.8%         
Accenture, Cl. A    106,500    4,286,625 
Adobe Systems    161,000 b    7,029,260 
Akamai Technologies    80,100 a,b    2,301,273 
Amdocs    133,700 b    4,972,303 
Apple    35,800 b    5,496,732 
Automatic Data Processing    103,700    4,762,941 
Broadcom, Cl. A    190,950 b    6,958,218 
Cisco Systems    245,232 b    8,119,632 
Citrix Systems    81,300 b    3,278,016 
Cognizant Technology Solutions,         
Cl. A    70,900 b    5,655,693 
Corning    310,400    7,651,360 
Google, Cl. A    13,200 b    7,487,964 
Harris    46,654    2,696,135 
Hewlett-Packard    96,200    4,789,798 
Infosys Technologies, ADR    46,596    2,254,780 
Intel    85,300    2,205,858 
Juniper Networks    206,584 b    7,563,040 
KLA-Tencor    22,970    1,281,267 
MEMC Electronic Materials    115,500 b    6,798,330 
Microsoft    201,200    5,927,352 
NAVTEQ    26,100 b    2,035,017 
Network Appliance    170,500 b    4,588,155 
Oracle    121,000 b    2,619,650 
QUALCOMM    135,800    5,738,908 
Research In Motion    69,100 b    6,809,805 
Riverbed Technology    71,266 b    2,878,434 
SanDisk    54,780 b    3,018,378 
SAP, ADR    74,721    4,383,881 
Seagate Technology    55,400    1,417,132 
Sonus Networks    147,900 b    902,190 
Sun Microsystems    463,000 b    2,597,430 
Taiwan Semiconductor         
Manufacturing, ADR    138,768    1,404,332 
Telefonaktiebolaget LM Ericsson,         
ADR    75,809 a    3,017,198 
Texas Instruments    123,400    4,515,206 
Trimble Navigation    15,800 b    619,518 
VMware, Cl. A    1,160 b    98,600 
Yahoo!    82,700 b    2,219,668 
        150,380,079 
Telecommunication Services--.5%         
NeuStar, Cl. A    24,980 b    856,564 
Total Common Stocks         
(cost $120,943,132)        158,983,866 
 
Other Investment--3.2%         
Registered Investment Company;         
Dreyfus Institutional Preferred         
Plus Money Market Fund         

(cost $5,173,718)    5,173,718 c    5,173,718 
 
Investment of Cash Collateral for         
Securities Loaned--7.4%         
Registered Investment Company;         
Dreyfus Institutional Cash         
Advantage Fund         
(cost $12,052,782)    12,052,782 c    12,052,782 
 
Total Investments (cost $138,169,632)    107.7%    176,210,366 
Liabilities, Less Cash and Receivables    (7.7%)    (12,580,904) 
Net Assets    100.0%    163,629,462 

ADR - American Depository Receipts 
a    All or a portion of these securities are on loan. At September 30, 2007, the total market value of the portfolio's securities 
    on loan is $11,671,972 and the total market value of the collateral held by the portfolio is $12,052,782. 
b    Non-income producing security. 
c    Investment in affiliated money market mutual fund. 

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) 
under the Investment Company Act of 1940. 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

DREYFUS INVESTMENT PORTFOLIOS 
 
By:    /s/ J. David Officer 
    J. David Officer 
    President 
 
Date:    November 26, 2007 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:    /s/ J. David Officer 
    J. David Officer 
    President 
 
Date:    November 26, 2007 
 
By:    /s/ James Windels 
    James Windels 
    Treasurer
 
Date:    November 26, 2007 

EXHIBIT INDEX

(a) Certifications of principal executive and principal financial officers as required by Rule 30a- 
2(a) under the Investment Company Act of 1940. (EX-99.CERT)