13F-HR 1 icm06300613fhr.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, 2006 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Investment Counselors of Maryland, LLC Address: 803 Cathedral Street Baltimore, Maryland 21201-5297 Form 13F File Number: 028-00880 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: Linda Rosatelli Title: Chief Compliance Officer Phone: 410-539-3838 Signature, Place, and Date of Signing: /s/Linda Rosatelli Baltimore, Maryland August 8, 2006 Report Type (Check only one.): [x] 13F Holdings Report. [ ] 13F Notice. [ ] 13F Combination Report. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 229 Form 13F Information Table Value Total: 2522403 (thousands) List of Other Included Managers: No. Form 13F File Number Name 01 028-11931 Old Mutual (US) Holdings Inc.
FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 4KIDS ENTERTAINMENT INC. COM 350865101 8812 543625 SH DEFINED 01 437625 106000 ACUITY BRANDS INC. COM 00508y102 11969 307600 SH DEFINED 01 243700 63900 ADAPTEC INC COM 00651f108 9665 2226950 SH DEFINED 01 1763750 463200 AGCO CORP. COM 001084102 14970 568775 SH DEFINED 01 460875 107900 ALBANY INTL CORP CL A COM 012348108 13446 317200 SH DEFINED 01 246400 70800 AMERICAN AXLE & MFG HLDGS COM 024061103 12112 707900 SH DEFINED 01 563800 144100 AMERICAN INTL GROUP INC COM 026874107 6229 105494 SH DEFINED 01 104094 1400 65 1100 SH OTHER 01 1100 AMERICAN WOODMARK CORP. COM 030506109 12468 355825 SH DEFINED 01 287925 67900 AMERISTAR CASINOS INC. COM 03070q101 15428 793225 SH DEFINED 01 621525 171700 AMETEK INC COM 031100100 35562 750575 SH DEFINED 01 602175 148400 ANALOGIC CORP COM 032657207 8370 179575 SH DEFINED 01 127075 52500 APACHE CORP COM COM 037411105 9306 136353 SH DEFINED 01 134953 1400 110 1616 SH OTHER 01 1616 APRIA HEALTHCARE GROUP COM 037933108 12441 658250 SH DEFINED 01 521250 137000 APTARGROUP INC COM COM 038336103 31760 640200 SH DEFINED 01 513200 127000 ARMOR HOLDINGS INC COM 042260109 32766 597600 SH DEFINED 01 485900 111700 ATMI INC. COM 00207r101 16851 684450 SH DEFINED 01 543050 141400 AVOCENT CORPORATION COM 053893103 8010 305150 SH DEFINED 01 242650 62500 BAKER HUGHES INC COM 057224107 499 6100 SH DEFINED 01 6100 BANK OF AMERICA CORP COM 060505104 916 19046 SH DEFINED 01 19046 BECTON DICKINSON & CO COM 075887109 388 6350 SH DEFINED 01 6350 18 300 SH OTHER 01 300 BELDEN CDT INC COM 077454106 17229 521313 SH DEFINED 01 362313 159000 BERKSHIRE HATHAWAY CL A COM 084670108 6966 76 SH DEFINED 01 76 BERKSHIRE HATHAWAY CL B COM 084670207 5703 1874 SH DEFINED 01 1834 40 85 28 SH OTHER 01 28 BIO RAD LABS INC CL A COM 090572207 27257 419725 SH DEFINED 01 341725 78000 BORG WARNER INC. COM 099724106 37185 571200 SH DEFINED 01 444200 127000 BRANDYWINE REALTY TRUST COM 105368203 13387 416128 SH DEFINED 01 321010 95118 BUCKLE INC COM 118440106 10746 256663 SH DEFINED 01 198663 58000 BUCYRUS INT'L INC - A COM 118759109 21313 422049 SH DEFINED 01 335149 86900 CALLAWAY GOLF CO. COM 131193104 13229 1018400 SH DEFINED 01 811500 206900 CAMBREX CORP COM 132011107 13696 657500 SH DEFINED 01 530500 127000 CAMDEN PROPERTY COM 133131102 13334 181288 SH DEFINED 01 177788 3500 CAPITAL CORP OF THE WEST COM 140065202 3347 104580 SH DEFINED 01 87780 16800 CAPITAL ONE FINL CORP COM COM 14040H105 15085 176533 SH DEFINED 01 174533 2000 98 1150 SH OTHER 01 1150 CAPITAL TITLE GROUP INC COM 140919101 3493 473900 SH DEFINED 01 384400 89500 CARDIAC SCIENCE CORP COM 14141a108 4764 603815 SH DEFINED 01 508204 95611 CARPENTER TECHNOLOGY COM 144285103 31170 269870 SH DEFINED 01 214070 55800 CATAPULT COMMUNICATIONS COM 149016107 2604 238900 SH DEFINED 01 193700 45200 CBRL GROUP COM 12489v106 13864 408713 SH DEFINED 01 323813 84900 CELADON GROUP INC COM 150838100 14720 667880 SH DEFINED 01 525830 142050 CHEVRON CORPORATION COM 166764100 1154 18589 SH DEFINED 01 18589 CHUBB CORP COM 171232101 771 15450 SH DEFINED 01 13050 2400 CISCO SYSTEMS INC COM 17275r102 6194 317150 SH DEFINED 01 313050 4100 CITIGROUP INC COM 172967101 4574 94808 SH DEFINED 01 94118 690 CITIZENS COMMUNICATIONS COM 17453B101 6743 516700 SH DEFINED 01 516700 77 5900 SH OTHER 01 5900 CLARCOR INC COM 179895107 25632 860426 SH DEFINED 01 670626 189800 CLEAR CHANNEL COMMUNICATIONS C COM 184502102 6544 211450 SH DEFINED 01 208950 2500 COCA COLA CO COM 191216100 8538 198456 SH DEFINED 01 196156 2300 43 1000 SH OTHER 01 1000 COINSTAR INC. COM 19259p300 6392 267000 SH DEFINED 01 195700 71300 COLONIAL BANCGROUP INC COM 195493309 15994 622800 SH DEFINED 01 509300 113500 COMCAST CORP. - CLASS A COM 20030n101 6741 205900 SH DEFINED 01 203400 2500 51 1550 SH OTHER 01 1550 COMMSCOPE INC COM 203372107 29957 953450 SH DEFINED 01 752150 201300 CONAGRA INC COM 205887102 9550 431950 SH DEFINED 01 426750 5200 62 2800 SH OTHER 01 2800 CONMED CORP COM 207410101 16614 802625 SH DEFINED 01 650525 152100 COSTCO WHSL CORP NEW COM COM 22160K105 10860 190100 SH DEFINED 01 187600 2500 COVANCE INC COM 222816100 11554 188725 SH DEFINED 01 122025 66700 CVB FINANCIAL CORP COM 126600105 14251 909998 SH DEFINED 01 694886 215112 DELL INC. 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COM 374689107 19349 667200 SH DEFINED 01 531700 135500 GRIFFON CORP COM 398433102 24076 922463 SH DEFINED 01 743663 178800 HANMI FINANCIAL CORP COM 410495105 17587 904687 SH DEFINED 01 722567 182120 HAVERTY FURNITURE COS COM 419596101 6664 424700 SH DEFINED 01 364000 60700 HEICO CORPORATION COM 422806208 24618 1037856 SH DEFINED 01 796756 241100 HERITAGE COMMERCE CORP. COM 426927109 4291 173100 SH DEFINED 01 137900 35200 HONEYWELL INTERNATIONAL COM 438516106 5064 125650 SH DEFINED 01 123850 1800 HOOPER HOLMES INC COM 439104100 4969 1629200 SH DEFINED 01 1327700 301500 HUB INTERNATIONAL LTD COM 44332p101 17637 672900 SH DEFINED 01 550100 122800 IAC INTERACTIVECORP COM COM 44919P300 4582 172975 SH DEFINED 01 170825 2150 29 1100 SH OTHER 01 1100 IMATION CORP COM 45245a107 23608 575100 SH DEFINED 01 456500 118600 IMS HEALTH INC COM 449934108 7670 285650 SH DEFINED 01 281650 4000 68 2550 SH OTHER 01 2550 INSIGHT ENTERPRISES INC. COM 45765u103 18689 981025 SH DEFINED 01 778325 202700 INTEL CORP COM COM 458140100 4854 255482 SH DEFINED 01 251082 4400 43 2250 SH OTHER 01 2250 INTER-TEL INC. COM 458372109 16207 769575 SH DEFINED 01 607375 162200 INTERNATIONAL BUSINESS MACHINE COM 459200101 4424 57593 SH DEFINED 01 56793 800 32 422 SH OTHER 01 422 INVESTORS FINANCIAL SERVICES C COM 461915100 19057 424425 SH DEFINED 01 342325 82100 IOWA TELECOMMUNICATIONS SERVIC COM 462594201 10783 569950 SH DEFINED 01 461950 108000 ITRON INC. COM 465741106 29006 489475 SH DEFINED 01 391575 97900 JACK HENRY & ASSOCIATES, INC. COM 426281101 8919 453650 SH DEFINED 01 369450 84200 JARDEN CORP. COM 471109108 17764 583375 SH DEFINED 01 464975 118400 JLG INDUSTRIES INC COM 466210101 24139 1072850 SH DEFINED 01 856450 216400 JOHN HARLAND COMPANY COM 412693103 28812 662350 SH DEFINED 01 533650 128700 JOHNSON & JOHNSON COM 478160104 262 4379 SH DEFINED 01 4379 JPMORGAN CHASE & COMPANY COM 46625h100 393 9365 SH DEFINED 01 9365 75 1782 SH OTHER 01 1782 KAYDON CORP. COM 486587108 20991 562600 SH DEFINED 01 445100 117500 KEMET CORP COM 488360108 12414 1346475 SH DEFINED 01 1096275 250200 KINDER MORGAN INC KANS COM 49455P101 10264 102758 SH DEFINED 01 102758 110 1100 SH OTHER 01 1100 KITE REALTY GROUP TRUST COM 49803t102 12096 775900 SH DEFINED 01 618100 157800 LANDRY'S RESTAURANTS INC. COM 51508l103 4842 149200 SH DEFINED 01 119000 30200 LASALLE HOTEL PROPERTIES COM 517942108 18877 407713 SH DEFINED 01 310313 97400 LEVEL 3 COMMUNICATIONS COM 52729n100 6272 1412500 SH DEFINED 01 1397500 15000 43 9700 SH OTHER 01 9700 LIBERTY PPTY TR SH BEN INT COM 531172104 10016 226600 SH DEFINED 01 222400 4200 LIZ CLAIBORNE INC COM 539320101 3128 84400 SH DEFINED 01 84400 LOCKHEED MARTIN CORP COM 539830109 517 7200 SH DEFINED 01 7200 M D C HLDGS INC COM 552676108 20196 388900 SH DEFINED 01 316100 72800 MAC DERMID INC COM 554273102 27136 942213 SH DEFINED 01 750213 192000 MACK-CALI REALTY CORP COM 554489104 8353 181913 SH DEFINED 01 130113 51800 MACROVISION CORP COM 555904101 13605 632200 SH DEFINED 01 509200 123000 MANTECH INTERNATIONAL COM 564563104 12937 419208 SH DEFINED 01 339808 79400 MAXIMUS INC COM 577933104 15458 667725 SH DEFINED 01 545225 122500 MEDICAL ACTION INDUSTRIES COM 58449l100 5568 252075 SH DEFINED 01 207375 44700 MENS WEARHOUSE INC COM 587118100 25159 830344 SH DEFINED 01 657244 173100 MERCK & CO INC COM 589331107 746 20486 SH DEFINED 01 20486 MERIT MEDICAL SYSTEMS INC. COM 589889104 7755 563575 SH DEFINED 01 447075 116500 MICHAEL BAKER CORP COM 057149106 4535 209000 SH DEFINED 01 170100 38900 MICROSOFT CORP COM COM 594918104 8524 365845 SH DEFINED 01 361095 4750 65 2800 SH OTHER 01 2800 MILLS CORP COM 601148109 5906 220800 SH DEFINED 01 177800 43000 MINERALS TECHNOLOGIES INC COM 603158106 16957 326100 SH DEFINED 01 262000 64100 MOHAWK INDUSTRIES INC COM 608190104 10876 154593 SH DEFINED 01 122493 32100 MOLDFLOW CORP COM 608507109 5841 498800 SH DEFINED 01 402600 96200 MORGAN STANLEY COM 617446448 967 15291 SH DEFINED 01 15291 NABORS INDUSTRIES LTD SHS COM G6359F103 11110 328800 SH DEFINED 01 328800 88 2600 SH OTHER 01 2600 NATIONAL CITY CORP COM 635405103 223 6164 SH DEFINED 01 6164 NAVIGANT INTERNATIONAL COM 63935r108 5995 374000 SH DEFINED 01 235100 138900 NEWS CORP CL B COM 65248E203 5453 270200 SH DEFINED 01 267050 3150 52 2600 SH OTHER 01 2600 NOKIA CORP SPONSORED ADR COM 654902204 9455 466675 SH DEFINED 01 461475 5200 NORTHWEST PIPE CO COM 667746101 6487 256400 SH DEFINED 01 202900 53500 OCEANEERING INTL INC COM COM 675232102 49203 1073126 SH DEFINED 01 863726 209400 OM GROUP INC COM 670872100 25167 815800 SH DEFINED 01 651000 164800 OMNICARE INC COM 681904108 25879 545750 SH DEFINED 01 432650 113100 ORTHOFIX INTERNATIONAL NV COM n6748l102 13066 342850 SH DEFINED 01 266950 75900 PARKWAY PROPERTIES INC COM 70159Q104 8838 194250 SH DEFINED 01 141550 52700 PENN VA CORP COM 707882106 47997 686850 SH DEFINED 01 559450 127400 PENN VIRGINIA RESOURCE PARTNER COM 707884102 511 19000 SH DEFINED 01 19000 PFIZER INC COM 717081103 794 33827 SH DEFINED 01 33827 PITNEY BOWES INC COM 724479100 330 8000 SH DEFINED 01 8000 PROGRESS SOFTWARE CORP. COM 743312100 15001 640800 SH DEFINED 01 510400 130400 PROQUEST COMPANY COM 74346P102 2500 203400 SH DEFINED 01 200000 3400 PROSPERITY BANCSHARES INC COM 743606105 24016 730200 SH DEFINED 01 592500 137700 QUAKER CHEMICAL COM 747316107 6058 323975 SH DEFINED 01 256275 67700 QUIXOTE CORP COM 749056107 8612 477930 SH DEFINED 01 362330 115600 RADISYS CORP. 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