-----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, QuRruDI4WPjxqMRAy1UU73GOi70CO8rjMYUuQCLPmvj5agIk/7xJj5Z5ss3diZ4M 3bDmDfS/8j7h+WTEMqNLLw== 0001085146-06-000396.txt : 20060710 0001085146-06-000396.hdr.sgml : 20060710 20060710165311 ACCESSION NUMBER: 0001085146-06-000396 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060630 FILED AS OF DATE: 20060710 DATE AS OF CHANGE: 20060710 EFFECTIVENESS DATE: 20060710 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MACKAY SHIELDS LLC CENTRAL INDEX KEY: 0000061227 IRS NUMBER: 134080466 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-00046 FILM NUMBER: 06954393 BUSINESS ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-758-5400 MAIL ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: MACKAY SHIELDS FINANCIAL CORP DATE OF NAME CHANGE: 19920929 13F-HR 1 mack2q06.txt MACKAY SHIELDS LLC 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: MacKay Shields LLC Address: 9 West 57th Street, 34th Floor New York, NY 10019 13F File Number: 28-00046 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: Rene A. Bustamante Title: Chief Compliance Officer Phone: (212) 230-3811 Signature, Place, and Date of Signing: /s/ Rene A. Bustamante New York, NY July 10, 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: 0 Form13F Information Table Entry Total: 528 Form13F Information Table Value Total: $10,877,878 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE 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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M CO NOTE 11/2 88579YAB7 10450 11515000 PRN SOLE 11515000 0 0 3M CO COM 88579Y101 43563 539350 SH SOLE 539350 0 0 A C MOORE ARTS & CRAFTS INC COM 00086T103 2692 165085 SH SOLE 165085 0 0 A S V INC COM 001963107 5692 247035 SH SOLE 247035 0 0 ABBOTT LABS COM 002824100 54728 1254955 SH SOLE 1254955 0 0 ABITIBI-CONSOLIDATED INC COM 003924107 14222 5190673 SH SOLE 5190673 0 0 ACTEL CORP COM 004934105 2576 179496 SH SOLE 179496 0 0 ACTUANT CORP CL A NEW 00508X203 8582 171797 SH SOLE 171797 0 0 ADOLOR CORP COM 00724X102 4314 172464 SH SOLE 172464 0 0 ADVANCE AUTO PARTS INC COM 00751Y106 1329 46000 SH SOLE 46000 0 0 ADVANCED MICRO DEVICES INC COM 007903107 48036 1967081 SH SOLE 1967081 0 0 AES CORP COM 00130H105 6181 335000 SH SOLE 335000 0 0 AETNA INC NEW COM 00817Y108 4392 110000 SH SOLE 110000 0 0 AFFILIATED MANAGERS GROUP COM 008252108 24693 284181 SH SOLE 284181 0 0 AFFILIATED MANAGERS GROUP NOTE 5/0 008252AC2 17953 11765000 PRN SOLE 11765000 0 0 AFLAC INC COM 001055102 55307 1193236 SH SOLE 1193236 0 0 AGCO CORP COM 001084102 9284 352730 SH SOLE 352730 0 0 AIR PRODS & CHEMS INC COM 009158106 3041 47569 SH SOLE 47569 0 0 AKAMAI TECHNOLOGIES INC COM 00971T101 48576 1342250 SH SOLE 1342250 0 0 ALBANY INTL CORP NOTE 2.250% 3/1 012348AC2 5231 4900000 PRN SOLE 4900000 0 0 ALCOA INC COM 013817101 28846 891418 SH SOLE 891418 0 0 ALCON INC COM SHS H01301102 10458 106117 SH SOLE 106117 0 0 ALKERMES INC COM 01642T108 1675 88536 SH SOLE 88536 0 0 ALLEGHENY TECHNOLOGIES INC COM 01741R102 15891 229500 SH SOLE 229500 0 0 ALLIANCE DATA SYSTEMS CORP COM 018581108 2635 44800 SH SOLE 44800 0 0 ALLIANT TECHSYSTEMS INC COM 018804104 9219 120750 SH SOLE 120750 0 0 ALLSTATE CORP COM 020002101 36467 666296 SH SOLE 666296 0 0 ALLTEL CORP COM 020039103 58804 921259 SH SOLE 921259 0 0 ALZA CORP SDCV 7/2 02261WAB5 26826 32325000 PRN SOLE 32325000 0 0 ALZA CORP SDCV 7/2 02261WAB5 1459 1774000 SH SOLE 1774000 0 0 AMAZON COM INC NOTE 4.750% 2/0 023135AF3 9040 9380000 PRN SOLE 9380000 0 0 AMDOCS LTD ORD G02602103 7089 193700 SH SOLE 193700 0 0 AMERICAN AXLE & MFG HLDGS IN COM 024061103 2595 151665 SH SOLE 151665 0 0 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 9432 277100 SH SOLE 277100 0 0 AMERICAN EXPRESS CO COM 025816109 67672 1271544 SH SOLE 1271544 0 0 AMERICAN EXPRESS CO DBCV 1.850%12/0 025816AS8 38377 37270000 PRN SOLE 37270000 0 0 AMERICAN INTL GROUP INC DBCV 11/0 026874AP2 9277 13300000 PRN SOLE 13300000 0 0 AMERICAN RAILCAR INDS INC COM 02916P103 990 29900 SH SOLE 29900 0 0 AMERICAN STD COS INC DEL COM 029712106 65861 1522101 SH SOLE 1522101 0 0 AMERICREDIT CORP COM 03060R101 9175 328600 SH SOLE 328600 0 0 AMERIPRISE FINL INC COM 03076C106 19026 425933 SH SOLE 425933 0 0 AMGEN INC COM 031162100 66612 1021193 SH SOLE 1021193 0 0 AMGEN INC NOTE 3/0 031162AL4 2164 2945000 PRN SOLE 2945000 0 0 AMPHENOL CORP NEW CL A 032095101 15585 278500 SH SOLE 278500 0 0 AMR CORP COM 001765106 1271 50000 SH SOLE 50000 0 0 AMR CORP NOTE 4.500% 2/1 001765BB1 6329 4710000 PRN SOLE 4710000 0 0 ANGIOTECH PHARMACEUTICALS IN COM 034918102 840 71500 SH SOLE 71500 0 0 ANIXTER INTL INC COM 035290105 5377 113300 SH SOLE 113300 0 0 APACHE CORP COM 037411105 36551 535550 SH SOLE 535550 0 0 APOGEE ENTERPRISES INC COM 037598109 967 65795 SH SOLE 65795 0 0 APPLE COMPUTER INC COM 037833100 73769 1291475 SH SOLE 1291475 0 0 APPLIED FILMS CORP COM 038197109 2829 99310 SH SOLE 99310 0 0 APRIA HEALTHCARE GROUP INC COM 037933108 6027 318900 SH SOLE 318900 0 0 ARCH CHEMICALS INC COM 03937R102 21522 597027 SH SOLE 597027 0 0 ARCH COAL INC COM 039380100 30374 716854 SH SOLE 716854 0 0 ARCTIC CAT INC COM 039670104 2155 110445 SH SOLE 110445 0 0 ARRIS GROUP INC COM 04269Q100 5722 436139 SH SOLE 436139 0 0 ARTHROCARE CORP COM 043136100 8253 196450 SH SOLE 196450 0 0 ARVINMERITOR INC NOTE 4.625% 3/0 043353AF8 8295 7805000 PRN SOLE 7805000 0 0 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 17279 741897 SH SOLE 741897 0 0 ASTEC INDS INC COM 046224101 2208 64700 SH SOLE 64700 0 0 AT&T INC COM 00206R102 34788 1247332 SH SOLE 1247332 0 0 ATMI INC COM 00207R101 913 37100 SH SOLE 37100 0 0 ATWOOD OCEANICS INC COM 050095108 21025 423907 SH SOLE 423907 0 0 AUDIOCODES LTD NOTE 2.000%11/0 050732AB2 11114 12470000 PRN SOLE 12470000 0 0 AUTODESK INC COM 052769106 8388 243400 SH SOLE 243400 0 0 AVNET INC COM 053807103 7972 398200 SH SOLE 398200 0 0 AVOCENT CORP COM 053893103 9955 379218 SH SOLE 379218 0 0 BAKER HUGHES INC COM 057224107 101703 1242550 SH SOLE 1242550 0 0 BALL CORP COM 058498106 38818 1047989 SH SOLE 1047989 0 0 BANK NEW YORK INC COM 064057102 33789 1049360 SH SOLE 1049360 0 0 BANK OF AMERICA CORPORATION COM 060505104 136755 2843131 SH SOLE 2843131 0 0 BANTA CORP COM 066821109 2628 56725 SH SOLE 56725 0 0 BARR PHARMACEUTICALS INC COM 068306109 25142 527196 SH SOLE 527196 0 0 BEAZER HOMES USA INC COM 07556Q105 3197 69697 SH SOLE 69697 0 0 BED BATH & BEYOND INC COM 075896100 52037 1568800 SH SOLE 1568800 0 0 BELDEN CDT INC COM 077454106 1337 40465 SH SOLE 40465 0 0 BENCHMARK ELECTRS INC COM 08160H101 908 37657 SH SOLE 37657 0 0 BERKLEY W R CORP COM 084423102 8261 242050 SH SOLE 242050 0 0 BERKSHIRE HILLS BANCORP INC COM 084680107 836 23575 SH SOLE 23575 0 0 BEST BUY INC COM 086516101 79820 1455500 SH SOLE 1455500 0 0 BJ SVCS CO COM 055482103 88823 2383875 SH SOLE 2383875 0 0 BLACK & DECKER CORP COM 091797100 752 8900 SH SOLE 8900 0 0 BLOCK H & R INC COM 093671105 25831 1082633 SH SOLE 1082633 0 0 BMC SOFTWARE INC COM 055921100 20681 865323 SH SOLE 865323 0 0 BOB EVANS FARMS INC COM 096761101 1379 45965 SH SOLE 45965 0 0 BOSTON SCIENTIFIC CORP COM 101137107 4357 258720 SH SOLE 258720 0 0 BOWATER INC COM 102183100 10107 444281 SH SOLE 444281 0 0 BOYD GAMING CORP COM 103304101 6111 151400 SH SOLE 151400 0 0 BP PLC SPONSORED ADR 055622104 37226 534859 SH SOLE 534859 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 15546 601146 SH SOLE 601146 0 0 BRONCO DRILLING CO INC COM 112211107 4021 192471 SH SOLE 192471 0 0 BROOKLINE BANCORP INC DEL COM 11373M107 1384 100500 SH SOLE 100500 0 0 BUCKEYE TECHNOLOGIES INC COM 118255108 1304 170650 SH SOLE 170650 0 0 BUILDERS FIRSTSOURCE INC COM 12008R107 3363 165155 SH SOLE 165155 0 0 BURLINGTON NORTHN SANTA FE C COM 12189T104 6642 83817 SH SOLE 83817 0 0 C D W CORP COM 12512N105 2432 44500 SH SOLE 44500 0 0 CADBURY SCHWEPPES PLC ADR 127209302 66951 1726394 SH SOLE 1726394 0 0 CAL DIVE INTL INC NOTE 3.250%12/1 127914AB5 5257 3525000 PRN SOLE 3525000 0 0 CALLAWAY GOLF CO COM 131193104 956 73604 SH SOLE 73604 0 0 CAMBREX CORP COM 132011107 3208 154021 SH SOLE 154021 0 0 CANON INC ADR 138006309 6421 87628 SH SOLE 87628 0 0 CAPITAL ONE FINL CORP COM 14040H105 76683 897400 SH SOLE 897400 0 0 CARAUSTAR INDS INC COM 140909102 2087 231850 SH SOLE 231850 0 0 CAREMARK RX INC COM 141705103 86840 1741325 SH SOLE 1741325 0 0 CARMIKE CINEMAS INC COM 143436400 2575 122145 SH SOLE 122145 0 0 CARPENTER TECHNOLOGY CORP COM 144285103 1987 17200 SH SOLE 17200 0 0 CEDAR SHOPPING CTRS INC COM NEW 150602209 792 53775 SH SOLE 53775 0 0 CELANESE CORP DEL PFD 4.25% CONV 150870202 16580 554900 SH SOLE 554900 0 0 CELGENE CORP COM 151020104 3624 76400 SH SOLE 76400 0 0 CENDANT CORP COM 151313103 10432 640400 SH SOLE 640400 0 0 CENTRAL PAC FINL CORP COM 154760102 823 21270 SH SOLE 21270 0 0 CENTURY ALUM CO NOTE 1.750% 8/0 156431AE8 6104 4500000 PRN SOLE 4500000 0 0 CEPHALON INC COM 156708109 5697 94800 SH SOLE 94800 0 0 CERADYNE INC COM 156710105 8433 170387 SH SOLE 170387 0 0 CHATTEM INC COM 162456107 4923 162120 SH SOLE 162120 0 0 CHEMTURA CORP COM 163893100 19430 2080325 SH SOLE 2080325 0 0 CHESAPEAKE CORP COM 165159104 1086 66200 SH SOLE 66200 0 0 CHESAPEAKE ENERGY CORP COM 165167107 980 32400 SH SOLE 32400 0 0 CHEVRON CORP NEW COM 166764100 49875 803664 SH SOLE 803664 0 0 CHICOS FAS INC COM 168615102 7522 278815 SH SOLE 278815 0 0 CHILDRENS PL RETAIL STORES I COM 168905107 10745 178925 SH SOLE 178925 0 0 CHIQUITA BRANDS INTL INC COM 170032809 830 60200 SH SOLE 60200 0 0 CHITTENDEN CORP COM 170228100 1874 72488 SH SOLE 72488 0 0 CHRISTOPHER & BANKS CORP COM 171046105 2089 72048 SH SOLE 72048 0 0 CHURCH & DWIGHT INC DBCV 5.250% 8/1 171340AC6 14612 11525000 PRN SOLE 11525000 0 0 CIENA CORP NOTE 3.750% 2/0 171779AA9 72969 79950000 PRN SOLE 79950000 0 0 CIMAREX ENERGY CO COM 171798101 1248 29025 SH SOLE 29025 0 0 CITIGROUP FDG INC NOTE 0.500% 2/0 17308CDA1 14386 15690000 PRN SOLE 15690000 0 0 CITIGROUP INC COM 172967101 120619 2500384 SH SOLE 2500384 0 0 CITRIX SYS INC COM 177376100 43303 1078800 SH SOLE 1078800 0 0 CLARCOR INC COM 179895107 5425 182102 SH SOLE 182102 0 0 CLECO CORP NEW COM 12561W105 1639 70510 SH SOLE 70510 0 0 COACH INC COM 189754104 83642 2797375 SH SOLE 2797375 0 0 COEUR D ALENE MINES CORP IDA NOTE 1.250% 1/1 192108AQ1 5633 6145000 PRN SOLE 6145000 0 0 COLDWATER CREEK INC COM 193068103 6849 255963 SH SOLE 255963 0 0 COMCAST CORP NEW CL A 20030N101 105099 3210091 SH SOLE 3210091 0 0 COMMERCIAL CAP BANCORP INC COM 20162L105 999 63420 SH SOLE 63420 0 0 COMMERCIAL METALS CO COM 201723103 10766 418900 SH SOLE 418900 0 0 COMPASS BANCSHARES INC COM 20449H109 24072 432956 SH SOLE 432956 0 0 COMPUTER SCIENCES CORP COM 205363104 36009 743322 SH SOLE 743322 0 0 CONMED CORP COM 207410101 781 37750 SH SOLE 37750 0 0 CONOCOPHILLIPS COM 20825C104 43081 657429 SH SOLE 657429 0 0 CONSECO INC DBCV 3.500% 9/3 208464BH9 16407 15370000 PRN SOLE 15370000 0 0 CONSOL ENERGY INC COM 20854P109 9484 203000 SH SOLE 203000 0 0 COOPER CAMERON CORP DBCV 1.500% 5/1 216640AE2 38441 25912000 PRN SOLE 25912000 0 0 CORNING INC COM 219350105 71076 2938250 SH SOLE 2938250 0 0 COST PLUS INC CALIF COM 221485105 3323 226700 SH SOLE 226700 0 0 COSTCO COMPANIES INC NOTE 8/1 22160QAC6 44905 34393000 PRN SOLE 34393000 0 0 COVANCE INC COM 222816100 5932 96900 SH SOLE 96900 0 0 COVENTRY HEALTH CARE INC COM 222862104 53414 972229 SH SOLE 972229 0 0 CRA INTL INC COM 12618T105 5570 123401 SH SOLE 123401 0 0 CSK AUTO CORP COM 125965103 1111 92803 SH SOLE 92803 0 0 CSX CORP COM 126408103 18538 263176 SH SOLE 263176 0 0 CULLEN FROST BANKERS INC COM 229899109 2283 39835 SH SOLE 39835 0 0 CVS CORP COM 126650100 51644 1682226 SH SOLE 1682226 0 0 CYMER INC COM 232572107 4140 89119 SH SOLE 89119 0 0 CYTYC CORP COM 232946103 14103 556100 SH SOLE 556100 0 0 DADE BEHRING HLDGS INC COM 23342J206 8827 211980 SH SOLE 211980 0 0 DANAHER CORP DEL COM 235851102 82849 1288075 SH SOLE 1288075 0 0 DEPOMED INC COM 249908104 541 92100 SH SOLE 92100 0 0 DEVON ENERGY CORP NEW DEB 4.900% 8/1 25179MAA1 11899 9769000 PRN SOLE 9769000 0 0 DIAGEO P L C SPON ADR NEW 25243Q205 3127 46300 SH SOLE 46300 0 0 DIAMOND OFFSHORE DRILLING IN DBCV 1.500% 4/1 25271CAE2 39966 23005000 PRN SOLE 23005000 0 0 DIAMOND OFFSHORE DRILLING IN COM 25271C102 17335 206543 SH SOLE 206543 0 0 DIAMONDROCK HOSPITALITY CO COM 252784301 966 65225 SH SOLE 65225 0 0 DICKS SPORTING GOODS INC COM 253393102 2431 61400 SH SOLE 61400 0 0 DIGITAS INC COM 25388K104 5160 444042 SH SOLE 444042 0 0 DIODES INC COM 254543101 10305 248683 SH SOLE 248683 0 0 DIRECT GEN CORP COM 25456W204 2095 123825 SH SOLE 123825 0 0 DISNEY WALT CO NOTE 2.125% 4/1 254687AU0 50832 45870000 PRN SOLE 45870000 0 0 DOVER CORP COM 260003108 5427 109800 SH SOLE 109800 0 0 DRESSER-RAND GROUP INC COM 261608103 5694 242506 SH SOLE 242506 0 0 DRS TECHNOLOGIES INC COM 23330X100 8575 175887 SH SOLE 175887 0 0 DTE ENERGY CO COM 233331107 13538 332304 SH SOLE 332304 0 0 DU PONT E I DE NEMOURS & CO COM 263534109 52821 1269729 SH SOLE 1269729 0 0 DUKE ENERGY CORP NEW COM 26441C105 16931 576442 SH SOLE 576442 0 0 E M C CORP MASS COM 268648102 51327 4678850 SH SOLE 4678850 0 0 EAGLE MATERIALS INC COM 26969P108 21982 462780 SH SOLE 462780 0 0 EATON CORP COM 278058102 2051 27200 SH SOLE 27200 0 0 EDUCATION RLTY TR INC COM 28140H104 1022 61400 SH SOLE 61400 0 0 EFUNDS CORP COM 28224R101 1357 61563 SH SOLE 61563 0 0 EMULEX CORP COM NEW 292475209 19890 1222466 SH SOLE 1222466 0 0 ENDO PHARMACEUTICALS HLDGS I COM 29264F205 8143 246900 SH SOLE 246900 0 0 ENERGY EAST CORP COM 29266M109 13716 573152 SH SOLE 573152 0 0 ENI S P A SPONSORED ADR 26874R108 4058 69112 SH SOLE 69112 0 0 ENSCO INTL INC COM 26874Q100 106867 2322184 SH SOLE 2322184 0 0 ENTERGY CORP NEW COM 29364G103 16726 236406 SH SOLE 236406 0 0 EPICOR SOFTWARE CORP COM 29426L108 5511 523330 SH SOLE 523330 0 0 ERICSSON L M TEL CO ADR B SEK 10 294821608 3299 100000 SH SOLE 100000 0 0 ESSEX CORP COM 296744105 849 46100 SH SOLE 46100 0 0 EURONET WORLDWIDE INC COM 298736109 1554 40500 SH SOLE 40500 0 0 EXXON MOBIL CORP COM 30231G102 68708 1119945 SH SOLE 1119945 0 0 F5 NETWORKS INC COM 315616102 417 7800 SH SOLE 7800 0 0 FACTSET RESH SYS INC COM 303075105 20838 440550 SH SOLE 440550 0 0 FAIRCHILD SEMICONDUCTOR INTL COM 303726103 1361 74900 SH SOLE 74900 0 0 FEDEX CORP COM 31428X106 89728 767825 SH SOLE 767825 0 0 FIRST NIAGARA FINL GP INC COM 33582V108 997 71115 SH SOLE 71115 0 0 FIRSTENERGY CORP COM 337932107 31945 589274 SH SOLE 589274 0 0 FISHER SCIENTIFIC INTL INC COM NEW 338032204 91020 1246000 SH SOLE 1246000 0 0 FISHER SCIENTIFIC INTL INC NOTE 2.500%10/0 338032AW5 17049 10445000 PRN SOLE 10445000 0 0 FISHER SCIENTIFIC INTL INC NOTE 3.250% 3/0 338032AX3 27534 24602000 PRN SOLE 24602000 0 0 FLIR SYS INC COM 302445101 4501 203868 SH SOLE 203868 0 0 FLUOR CORP NEW COM 343412102 9637 103700 SH SOLE 103700 0 0 FORD MTR CO CAP TR II PFD TR CV6.5% 345395206 9533 341865 SH SOLE 341865 0 0 FOREST LABS INC COM 345838106 16599 429041 SH SOLE 429041 0 0 FOUNDATION COAL HLDGS INC COM 35039W100 7144 152228 SH SOLE 152228 0 0 GAMESTOP CORP NEW CL A 36467W109 4146 98734 SH SOLE 98734 0 0 GANNETT INC COM 364730101 52428 937388 SH SOLE 937388 0 0 GAP INC DEL COM 364760108 31227 1794669 SH SOLE 1794669 0 0 GARMIN LTD ORD G37260109 11978 113600 SH SOLE 113600 0 0 GEN-PROBE INC NEW COM 36866T103 6525 120867 SH SOLE 120867 0 0 GENENTECH INC COM NEW 368710406 58986 721100 SH SOLE 721100 0 0 GENERAL ELECTRIC CO COM 369604103 76901 2333175 SH SOLE 2333175 0 0 GENERAL GROWTH PPTYS INC COM 370021107 8879 197048 SH SOLE 197048 0 0 GENERAL MLS INC COM 370334104 67935 1315043 SH SOLE 1315043 0 0 GENERAL MTRS CORP DEB SR CONV B 370442733 7618 410800 SH SOLE 410800 0 0 GENLYTE GROUP INC COM 372302109 11569 159718 SH SOLE 159718 0 0 GENWORTH FINL INC COM CL A 37247D106 78401 2250324 SH SOLE 2250324 0 0 GENZYME CORP NOTE 1.250%12/0 372917AN4 27920 26690000 PRN SOLE 26690000 0 0 GETTY IMAGES INC COM 374276103 1181 18600 SH SOLE 18600 0 0 GIANT INDS INC COM 374508109 8078 121392 SH SOLE 121392 0 0 GILEAD SCIENCES INC COM 375558103 73033 1234500 SH SOLE 1234500 0 0 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 10801 193571 SH SOLE 193571 0 0 GLOBAL IMAGING SYSTEMS COM 37934A100 6514 157816 SH SOLE 157816 0 0 GLOBAL INDS LTD COM 379336100 1065 63759 SH SOLE 63759 0 0 GLOBAL POWER EQUIPMENT INC COM 37941P108 689 216740 SH SOLE 216740 0 0 GLOBALSANTAFE CORP SHS G3930E101 16834 291507 SH SOLE 291507 0 0 GLOBIX CORP COM NEW 37957F200 41118 11923287 SH SOLE 11923287 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 31966 212497 SH SOLE 212497 0 0 GRAFTECH INTL LTD COM 384313102 2140 368948 SH SOLE 368948 0 0 GRANT PRIDECO INC COM 38821G101 2238 50000 SH SOLE 50000 0 0 GREY WOLF INC COM 397888108 4376 568386 SH SOLE 568386 0 0 GUESS INC COM 401617105 2931 70200 SH SOLE 70200 0 0 GUITAR CTR MGMT INC COM 402040109 7696 173066 SH SOLE 173066 0 0 HALLIBURTON CO NOTE 3.125% 7/1 406216AM3 48804 24238000 PRN SOLE 24238000 0 0 HANGER ORTHOPEDIC GROUP INC COM NEW 41043F208 881 105400 SH SOLE 105400 0 0 HANMI FINL CORP COM 410495105 3730 191877 SH SOLE 191877 0 0 HANOVER COMPRESSOR CO COM 410768105 2183 116264 SH SOLE 116264 0 0 HANOVER INS GROUP INC COM 410867105 4096 86300 SH SOLE 86300 0 0 HARLEY DAVIDSON INC COM 412822108 69312 1262750 SH SOLE 1262750 0 0 HARMAN INTL INDS INC COM 413086109 49451 579250 SH SOLE 579250 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 64470 762051 SH SOLE 762051 0 0 HAWK CORP CL A 420089104 552 44875 SH SOLE 44875 0 0 HCA INC COM 404119109 15793 366001 SH SOLE 366001 0 0 HEALTH MGMT ASSOC INC NEW NOTE 1.500% 8/0 421933AF9 14213 14020000 PRN SOLE 14020000 0 0 HEALTH NET INC COM 42222G108 11853 262400 SH SOLE 262400 0 0 HEALTHTRONICS INC COM 42222L107 729 95275 SH SOLE 95275 0 0 HEALTHWAYS INC COM 422245100 7129 135437 SH SOLE 135437 0 0 HELIX ENERGY SOLUTIONS GRP I COM 42330P107 14638 362698 SH SOLE 362698 0 0 HERCULES OFFSHORE INC COM 427093109 6566 187577 SH SOLE 187577 0 0 HEWLETT PACKARD CO NOTE 10/1 428236AC7 6384 10034000 PRN SOLE 10034000 0 0 HIBBETT SPORTING GOODS INC COM 428565105 5995 250801 SH SOLE 250801 0 0 HIGHLAND HOSPITALITY CORP COM 430141101 1512 107390 SH SOLE 107390 0 0 HIGHWOODS PPTYS INC COM 431284108 17149 474018 SH SOLE 474018 0 0 HILTON HOTELS CORP NOTE 3.375% 4/1 432848AZ2 55844 42329000 PRN SOLE 42329000 0 0 HOLLY CORP COM PAR $0.01 435758305 17469 362439 SH SOLE 362439 0 0 HOME DEPOT INC COM 437076102 45825 1280389 SH SOLE 1280389 0 0 HONEYWELL INTL INC COM 438516106 27521 682892 SH SOLE 682892 0 0 HOOPER HOLMES INC COM 439104100 1183 388030 SH SOLE 388030 0 0 HOSPIRA INC COM 441060100 6420 149500 SH SOLE 149500 0 0 HOUSTON EXPL CO COM 442120101 2112 34518 SH SOLE 34518 0 0 HSBC HLDGS PLC SPON ADR NEW 404280406 11006 124700 SH SOLE 124700 0 0 HYDRIL COM 448774109 6027 76763 SH SOLE 76763 0 0 HYPERION SOLUTIONS CORP COM 44914M104 1752 63448 SH SOLE 63448 0 0 ILLINOIS TOOL WKS INC COM 452308109 52958 1114900 SH SOLE 1114900 0 0 IMMUCOR INC COM 452526106 7614 395964 SH SOLE 395964 0 0 INCO LTD COM 453258402 19880 301671 SH SOLE 301671 0 0 INDYMAC BANCORP INC COM 456607100 12084 263550 SH SOLE 263550 0 0 INPUT/OUTPUT INC COM 457652105 1280 135500 SH SOLE 135500 0 0 INTEGRA LIFESCIENCES HLDGS C COM NEW 457985208 6294 162171 SH SOLE 162171 0 0 INTEL CORP COM 458140100 40087 2115227 SH SOLE 2115227 0 0 INTEL CORP SDCV 2.950%12/1 458140AD2 17407 20535000 PRN SOLE 20535000 0 0 INTEL CORP SDCV 2.950%12/1 458140AD2 1585 1884000 SH SOLE 1884000 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 57013 742166 SH SOLE 742166 0 0 INTERNATIONAL COAL GRP INC N COM 45928H106 539 75000 SH SOLE 75000 0 0 INTERPUBLIC GROUP COS INC NOTE 4.500% 3/1 460690AT7 12883 13014000 PRN SOLE 13014000 0 0 INTERSIL CORP CL A 46069S109 4125 177400 SH SOLE 177400 0 0 INVITROGEN CORP COM 46185R100 7446 112700 SH SOLE 112700 0 0 IOWA TELECOMM SERVICES INC COM 462594201 1724 91135 SH SOLE 91135 0 0 IRWIN FINL CORP COM 464119106 1989 102560 SH SOLE 102560 0 0 ISHARES TR RUSSELL MCP VL 464287473 20447 154700 SH SOLE 154700 0 0 ISHARES TR RUSSELL1000VAL 464287598 7346 100452 SH SOLE 100452 0 0 J2 GLOBAL COMMUNICATIONS INC COM NEW 46626E205 17559 562437 SH SOLE 562437 0 0 JAMES RIVER COAL CO COM NEW 470355207 4512 170334 SH SOLE 170334 0 0 JARDEN CORP COM 471109108 8310 272916 SH SOLE 272916 0 0 JEFFERIES GROUP INC NEW COM 472319102 10652 359499 SH SOLE 359499 0 0 JO-ANN STORES INC COM 47758P307 654 44650 SH SOLE 44650 0 0 JOHNSON & JOHNSON COM 478160104 99584 1661953 SH SOLE 1661953 0 0 JOS A BANK CLOTHIERS INC COM 480838101 1303 54384 SH SOLE 54384 0 0 JOURNAL REGISTER CO COM 481138105 2729 304590 SH SOLE 304590 0 0 JOY GLOBAL INC COM 481165108 12037 231075 SH SOLE 231075 0 0 JP MORGAN CHASE & CO COM 46625H100 55864 1330104 SH SOLE 1330104 0 0 KADANT INC COM 48282T104 3614 157115 SH SOLE 157115 0 0 KEANE INC COM 486665102 1588 127002 SH SOLE 127002 0 0 KELLWOOD CO COM 488044108 982 33535 SH SOLE 33535 0 0 KEYCORP NEW COM 493267108 25499 714652 SH SOLE 714652 0 0 KIMBERLY CLARK CORP COM 494368103 31648 512943 SH SOLE 512943 0 0 KIRBY CORP COM 497266106 11395 288473 SH SOLE 288473 0 0 KNIGHT TRANSN INC COM 499064103 4995 247314 SH SOLE 247314 0 0 KOHLS CORP COM 500255104 76003 1285575 SH SOLE 1285575 0 0 KOS PHARMACEUTICALS INC COM 500648100 37379 993601 SH SOLE 993601 0 0 KROGER CO COM 501044101 86295 3947598 SH SOLE 3947598 0 0 L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 18004 18325000 PRN SOLE 18325000 0 0 L-3 COMMUNICATIONS HLDGS INC COM 502424104 67143 890250 SH SOLE 890250 0 0 LA Z BOY INC COM 505336107 2362 168728 SH SOLE 168728 0 0 LABOR READY INC COM NEW 505401208 8028 354435 SH SOLE 354435 0 0 LABORATORY CORP AMER HLDGS NOTE 9/1 50540RAC6 40721 47365000 PRN SOLE 47365000 0 0 LANDAMERICA FINL GROUP INC COM 514936103 2791 43200 SH SOLE 43200 0 0 LAS VEGAS SANDS CORP COM 517834107 12053 154800 SH SOLE 154800 0 0 LEARNING TREE INTL INC COM 522015106 945 107755 SH SOLE 107755 0 0 LEGG MASON INC COM 524901105 1602 16100 SH SOLE 16100 0 0 LENNAR CORP CL A 526057104 8434 190085 SH SOLE 190085 0 0 LENNOX INTL INC COM 526107107 4819 182000 SH SOLE 182000 0 0 LIBERTY MEDIA CORP DEB 3.500% 1/1 530715AN1 32324 33852000 PRN SOLE 33852000 0 0 LIBERTY MEDIA CORP NEW DEB 0.750% 3/3 530718AF2 1297 1222000 PRN SOLE 1222000 0 0 LINCARE HLDGS INC DBCV 3.000% 6/1 532791AB6 49183 51029000 PRN SOLE 51029000 0 0 LINEAR TECHNOLOGY CORP COM 535678106 21490 641675 SH SOLE 641675 0 0 LLOYDS TSB GROUP PLC SPONSORED ADR 539439109 3182 80675 SH SOLE 80675 0 0 LOGITECH INTERNATIONAL S A SPONSORED ADR 541419107 23007 593420 SH SOLE 593420 0 0 LORAL SPACE & COMMUNICATNS L COM 543881106 36201 1210864 SH SOLE 1210864 0 0 LOWES COS INC COM 548661107 71859 1184425 SH SOLE 1184425 0 0 LSI LOGIC CORP NOTE 4.000%11/0 502161AG7 34698 35724000 PRN SOLE 35724000 0 0 LUCENT TECHNOLOGIES INC COM 549463107 14928 6168650 SH SOLE 6168650 0 0 LUCENT TECHNOLOGIES INC SDCV 8.000% 8/0 549463AK3 43239 42315000 PRN SOLE 42315000 0 0 LYDALL INC DEL COM 550819106 1894 205435 SH SOLE 205435 0 0 MANNKIND CORP COM 56400P201 8217 385600 SH SOLE 385600 0 0 MARSHALL & ILSLEY CORP COM 571834100 26248 573848 SH SOLE 573848 0 0 MASCO CORP COM 574599106 483 16300 SH SOLE 16300 0 0 MASSEY ENERGY CORP COM 576206106 13561 376697 SH SOLE 376697 0 0 MATRIA HEALTHCARE INC COM NEW 576817209 3271 152715 SH SOLE 152715 0 0 MATTEL INC COM 577081102 12577 761799 SH SOLE 761799 0 0 MATTSON TECHNOLOGY INC COM 577223100 1421 145465 SH SOLE 145465 0 0 MCDATA CORP CL A 580031201 851 208600 SH SOLE 208600 0 0 MCDERMOTT INTL INC COM 580037109 7046 154950 SH SOLE 154950 0 0 MCGRAW HILL COS INC COM 580645109 1838 36600 SH SOLE 36600 0 0 MEDTRONIC INC DBCV 1.250% 9/1 585055AD8 2215 2235000 PRN SOLE 2235000 0 0 MEMC ELECTR MATLS INC COM 552715104 1144 30500 SH SOLE 30500 0 0 MENTOR GRAPHICS CORP COM 587200106 2054 158210 SH SOLE 158210 0 0 MERCANTILE BANK CORP COM 587376104 2255 56592 SH SOLE 56592 0 0 MERITAGE HOMES CORP COM 59001A102 3121 66058 SH SOLE 66058 0 0 MERRILL LYNCH & CO INC COM 590188108 38038 546843 SH SOLE 546843 0 0 MERRILL LYNCH & CO INC NOTE 3/1 590188W46 2479 2274000 PRN SOLE 2274000 0 0 MICHAELS STORES INC COM 594087108 10034 243300 SH SOLE 243300 0 0 MICREL INC COM 594793101 1003 100160 SH SOLE 100160 0 0 MICROS SYS INC COM 594901100 8280 189558 SH SOLE 189558 0 0 MICROSEMI CORP COM 595137100 3540 145179 SH SOLE 145179 0 0 MICROSOFT CORP COM 594918104 49001 2103028 SH SOLE 2103028 0 0 MKS INSTRUMENT INC COM 55306N104 970 48200 SH SOLE 48200 0 0 MOBILE MINI INC COM 60740F105 6041 206458 SH SOLE 206458 0 0 MOLEX INC CL A 608554200 40450 1407946 SH SOLE 1407946 0 0 MORGAN STANLEY COM NEW 617446448 57264 905926 SH SOLE 905926 0 0 MOSAIC CO COM 61945A107 1147 73300 SH SOLE 73300 0 0 MOTOROLA INC COM 620076109 79171 3929068 SH SOLE 3929068 0 0 MSC INDL DIRECT INC CL A 553530106 11640 244694 SH SOLE 244694 0 0 MYOGEN INC COM 62856E104 2956 101960 SH SOLE 101960 0 0 NATIONAL FINL PARTNERS CORP COM 63607P208 8228 185700 SH SOLE 185700 0 0 NATIONAL OILWELL VARCO INC COM 637071101 10334 163200 SH SOLE 163200 0 0 NATIONAL SEMICONDUCTOR CORP COM 637640103 58716 2461900 SH SOLE 2461900 0 0 NAVIGANT INTL INC COM 63935R108 1330 83000 SH SOLE 83000 0 0 NEKTAR THERAPEUTICS COM 640268108 5053 275547 SH SOLE 275547 0 0 NEWFIELD EXPL CO COM 651290108 15994 326800 SH SOLE 326800 0 0 NEWS CORP CL A 65248E104 35952 1874450 SH SOLE 1874450 0 0 NEXSTAR BROADCASTING GROUP I CL A 65336K103 2358 491175 SH SOLE 491175 0 0 NII HLDGS INC NOTE 2.750% 8/1 62913FAF9 43487 32672000 PRN SOLE 32672000 0 0 NIKE INC CL B 654106103 63777 787375 SH SOLE 787375 0 0 NOKIA CORP SPONSORED ADR 654902204 30514 1506825 SH SOLE 1506825 0 0 NORFOLK SOUTHERN CORP COM 655844108 62349 1171525 SH SOLE 1171525 0 0 NORTEL NETWORKS CORP NEW NOTE 4.250% 9/0 656568AB8 132863141053000 PRN SOLE 141053000 0 0 NORTH FORK BANCORPORATION NY COM 659424105 23056 764197 SH SOLE 764197 0 0 NORTHROP GRUMMAN CORP COM 666807102 24930 389166 SH SOLE 389166 0 0 NOVARTIS A G SPONSORED ADR 66987V109 32128 596072 SH SOLE 596072 0 0 NRG ENERGY INC PFD CONV MAND 629377870 20555 83228 SH SOLE 83228 0 0 OLD DOMINION FGHT LINES INC COM 679580100 9845 261918 SH SOLE 261918 0 0 OLIN CORP COM PAR $1 680665205 11585 646110 SH SOLE 646110 0 0 OMNICARE INC COM 681904108 51549 1087075 SH SOLE 1087075 0 0 OMNICOM GROUP INC COM 681919106 55886 627300 SH SOLE 627300 0 0 OMNOVA SOLUTIONS INC COM 682129101 2550 448985 SH SOLE 448985 0 0 OREGON STL MLS INC COM 686079104 8526 168300 SH SOLE 168300 0 0 OSHKOSH TRUCK CORP COM 688239201 10497 220900 SH SOLE 220900 0 0 OWENS ILL INC COM NEW 690768403 16986 1013469 SH SOLE 1013469 0 0 PARKWAY PPTYS INC COM 70159Q104 1279 28100 SH SOLE 28100 0 0 PARTNERRE LTD COM G6852T105 20487 319867 SH SOLE 319867 0 0 PEABODY ENERGY CORP COM 704549104 105388 1890375 SH SOLE 1890375 0 0 PENN NATL GAMING INC COM 707569109 18298 471849 SH SOLE 471849 0 0 PEPSICO INC COM 713448108 50973 848989 SH SOLE 848989 0 0 PERFORMANCE FOOD GROUP CO COM 713755106 607 19980 SH SOLE 19980 0 0 PETCO ANIMAL SUPPLIES COM NEW 716016209 2541 124373 SH SOLE 124373 0 0 PFIZER INC COM 717081103 84913 3617942 SH SOLE 3617942 0 0 PG&E CORP COM 69331C108 15743 400777 SH SOLE 400777 0 0 PG&E CORP NOTE 9.500% 6/3 69331CAD0 8754 3065000 PRN SOLE 3065000 0 0 PHARMACEUTICAL PROD DEV INC COM 717124101 7758 220900 SH SOLE 220900 0 0 PHELPS DODGE CORP COM 717265102 1200 14600 SH SOLE 14600 0 0 PHILLIPS VAN HEUSEN CORP COM 718592108 17478 458004 SH SOLE 458004 0 0 PITNEY BOWES INC COM 724479100 23634 572246 SH SOLE 572246 0 0 PMA CAP CORP CL A 693419202 582 56495 SH SOLE 56495 0 0 PMA CAP CORP DBCV 6.500% 9/3 693419AD5 9091 7580000 PRN SOLE 7580000 0 0 PMI GROUP INC COM 69344M101 112782 2529883 SH SOLE 2529883 0 0 PMI GROUP INC DBCV 2.500% 7/1 69344MAE1 315 305000 PRN SOLE 305000 0 0 PNC FINL SVCS GROUP INC COM 693475105 35369 504035 SH SOLE 504035 0 0 POLYONE CORP COM 73179P106 162 18400 SH SOLE 18400 0 0 PPL CORP COM 69351T106 23970 742098 SH SOLE 742098 0 0 PRA INTL COM 69353C101 1620 72750 SH SOLE 72750 0 0 PRAXAIR INC COM 74005P104 83728 1550525 SH SOLE 1550525 0 0 PREMIERE GLOBAL SVCS INC COM 740585104 3653 483850 SH SOLE 483850 0 0 PRIDE INTL INC DEL NOTE 3.250% 5/0 74153QAD4 53140 39445000 PRN SOLE 39445000 0 0 PRIDE INTL INC DEL COM 74153Q102 34489 1104340 SH SOLE 1104340 0 0 PROCTER & GAMBLE CO COM 742718109 311 5600 SH SOLE 5600 0 0 PROGENICS PHARMACEUTICALS IN COM 743187106 1889 78519 SH SOLE 78519 0 0 PROGRESS SOFTWARE CORP COM 743312100 1714 73200 SH SOLE 73200 0 0 PRUDENTIAL FINL INC COM 744320102 74280 955977 SH SOLE 955977 0 0 PUBLIC SVC ENTERPRISE GROUP COM 744573106 16742 253200 SH SOLE 253200 0 0 QLOGIC CORP COM 747277101 4431 257000 SH SOLE 257000 0 0 QUADRAMED CORP COM 74730W101 11809 5657399 SH SOLE 5657399 0 0 QUAKER CHEM CORP COM 747316107 561 30000 SH SOLE 30000 0 0 QUALCOMM INC COM 747525103 45699 1140475 SH SOLE 1140475 0 0 QUALITY DISTR INC FLA COM 74756M102 2074 156185 SH SOLE 156185 0 0 QUEST DIAGNOSTICS INC COM 74834L100 80609 1345275 SH SOLE 1345275 0 0 RAILAMERICA INC COM 750753105 683 65250 SH SOLE 65250 0 0 RAYTHEON CO COM NEW 755111507 21113 473713 SH SOLE 473713 0 0 RBC BEARINGS INC COM 75524B104 3691 162605 SH SOLE 162605 0 0 REINSURANCE GROUP AMER INC COM 759351109 1332 27095 SH SOLE 27095 0 0 RESEARCH IN MOTION LTD COM 760975102 60447 866375 SH SOLE 866375 0 0 RESPIRONICS INC COM 761230101 2303 67300 SH SOLE 67300 0 0 ROPER INDS INC NEW COM 776696106 13730 293700 SH SOLE 293700 0 0 ROWAN COS INC COM 779382100 55917 1571141 SH SOLE 1571141 0 0 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 8256 123300 SH SOLE 123300 0 0 RYANAIR HLDGS PLC SPONSORED ADR 783513104 16518 313724 SH SOLE 313724 0 0 S & T BANCORP INC COM 783859101 1055 31737 SH SOLE 31737 0 0 SAFECO CORP COM 786429100 7569 134307 SH SOLE 134307 0 0 SAFENET INC COM 78645R107 2064 116505 SH SOLE 116505 0 0 SANDISK CORP NOTE 1.000% 5/1 80004CAC5 10337 11636000 PRN SOLE 11636000 0 0 SANDY SPRING BANCORP INC COM 800363103 945 26215 SH SOLE 26215 0 0 SCHEIN HENRY INC COM 806407102 7281 155800 SH SOLE 155800 0 0 SCHEIN HENRY INC NOTE 3.000% 8/1 806407AB8 14997 12687000 PRN SOLE 12687000 0 0 SCHERING PLOUGH CORP PFD CONV MAND 806605606 3362 66800 SH SOLE 66800 0 0 SCHLUMBERGER LTD DBCV 1.500% 6/0 806857AC2 62961 34538000 PRN SOLE 34538000 0 0 SCIENTIFIC GAMES CORP CL A 80874P109 2832 79500 SH SOLE 79500 0 0 SCOTTS MIRACLE GRO CO CL A 810186106 7139 168700 SH SOLE 168700 0 0 SEMCO ENERGY INC COM 78412D109 1240 222980 SH SOLE 222980 0 0 SHERWIN WILLIAMS CO COM 824348106 7298 153700 SH SOLE 153700 0 0 SHUFFLE MASTER INC COM 825549108 1857 56650 SH SOLE 56650 0 0 SIERRA HEALTH SVCS INC COM 826322109 24746 549530 SH SOLE 549530 0 0 SIERRA PAC RES NEW COM 826428104 1924 137415 SH SOLE 137415 0 0 SILICON LABORATORIES INC COM 826919102 2078 59099 SH SOLE 59099 0 0 SIMPSON MANUFACTURING CO INC COM 829073105 10415 288887 SH SOLE 288887 0 0 SIRIUS SATELLITE RADIO INC COM 82966U103 3520 741100 SH SOLE 741100 0 0 SIRIUS SATELLITE RADIO INC NOTE 2.500% 2/1 82966UAC7 9753 7869000 PRN SOLE 7869000 0 0 SLM CORP DBCV 7/2 78442PAC0 1501 1487000 PRN SOLE 1487000 0 0 SMART & FINAL INC COM 831683107 1014 60190 SH SOLE 60190 0 0 SMITH INTL INC COM 832110100 3989 89700 SH SOLE 89700 0 0 SMUCKER J M CO COM NEW 832696405 2903 64951 SH SOLE 64951 0 0 SOVEREIGN BANCORP INC COM 845905108 27070 1332839 SH SOLE 1332839 0 0 SPARTAN STORES INC COM 846822104 836 57150 SH SOLE 57150 0 0 SPARTECH CORP COM NEW 847220209 951 42100 SH SOLE 42100 0 0 SPDR TR UNIT SER 1 78462F103 10144 79700 SH SOLE 79700 0 0 SPECTRUM BRANDS INC COM 84762L105 1496 115810 SH SOLE 115810 0 0 SPRINT NEXTEL CORP COM FON 852061100 64663 3234779 SH SOLE 3234779 0 0 STANLEY WKS COM 854616109 5397 114300 SH SOLE 114300 0 0 STAR GAS PARTNERS L P UNIT LTD PARTNR 85512C105 23765 8716050 SH SOLE 8716050 0 0 STARBUCKS CORP COM 855244109 566 15000 SH SOLE 15000 0 0 STATION CASINOS INC COM 857689103 2499 36700 SH SOLE 36700 0 0 STEEL DYNAMICS INC COM 858119100 1847 28100 SH SOLE 28100 0 0 STELLENT INC COM 85856W105 652 68300 SH SOLE 68300 0 0 STERLING FINL CORP WASH COM 859319105 918 30100 SH SOLE 30100 0 0 STEWART ENTERPRISES INC CL A 860370105 1891 328830 SH SOLE 328830 0 0 SUPERIOR ENERGY SVCS INC COM 868157108 3492 103000 SH SOLE 103000 0 0 SYMBION INC DEL COM 871507109 2137 102963 SH SOLE 102963 0 0 TARGET CORP COM 87612E106 61025 1248725 SH SOLE 1248725 0 0 TEMPLE INLAND INC COM 879868107 14349 334702 SH SOLE 334702 0 0 TEREX CORP NEW COM 880779103 37943 384433 SH SOLE 384433 0 0 TESORO CORP COM 881609101 17869 240300 SH SOLE 240300 0 0 TESSERA TECHNOLOGIES INC COM 88164L100 5259 191247 SH SOLE 191247 0 0 TETRA TECHNOLOGIES INC DEL COM 88162F105 15198 501724 SH SOLE 501724 0 0 TEVA PHARMACEUTICAL FIN II L DBCV 0.250% 2/0 88164RAB3 30427 31243000 PRN SOLE 31243000 0 0 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 8356 264775 SH SOLE 264775 0 0 TEVA PHARMACEUTICALS FIN B V DBCV 0.375%11/1 88164MAB4 16497 11180000 PRN SOLE 11180000 0 0 TEXAS INSTRS INC COM 882508104 66136 2183439 SH SOLE 2183439 0 0 TIDEWATER INC COM 886423102 7198 146300 SH SOLE 146300 0 0 TIME WARNER INC COM 887317105 33046 1910180 SH SOLE 1910180 0 0 TIME WARNER TELECOM INC DBCV 2.375% 4/0 887319AC5 7536 7255000 PRN SOLE 7255000 0 0 TIMKEN CO COM 887389104 12608 376243 SH SOLE 376243 0 0 TJX COS INC NEW COM 872540109 5270 230525 SH SOLE 230525 0 0 TORO CO COM 891092108 13197 282600 SH SOLE 282600 0 0 TOWER GROUP INC COM 891777104 5804 191852 SH SOLE 191852 0 0 TRAMMELL CROW CO COM 89288R106 995 28285 SH SOLE 28285 0 0 TRANSOCEAN INC ORD G90078109 134866 1679112 SH SOLE 1679112 0 0 TRIAD GTY INC COM 895925105 1029 21060 SH SOLE 21060 0 0 TRIBUNE CO NEW COM 896047107 52147 1607983 SH SOLE 1607983 0 0 TRIDENT MICROSYSTEMS INC COM 895919108 968 51000 SH SOLE 51000 0 0 TRIMBLE NAVIGATION LTD COM 896239100 9361 209691 SH SOLE 209691 0 0 TRW AUTOMOTIVE HLDGS CORP COM 87264S106 30993 1136092 SH SOLE 1136092 0 0 UCBH HOLDINGS INC COM 90262T308 3854 233043 SH SOLE 233043 0 0 UGI CORP NEW COM 902681105 2372 96340 SH SOLE 96340 0 0 UNITED TECHNOLOGIES CORP COM 913017109 90944 1434000 SH SOLE 1434000 0 0 UNITED THERAPEUTICS CORP DEL COM 91307C102 3356 58100 SH SOLE 58100 0 0 UNITEDHEALTH GROUP INC COM 91324P102 69872 1560339 SH SOLE 1560339 0 0 UNIVERSAL HLTH SVCS INC CL B 913903100 20066 399235 SH SOLE 399235 0 0 US BANCORP DEL COM NEW 902973304 36883 1194424 SH SOLE 1194424 0 0 VARIAN MED SYS INC COM 92220P105 11430 241400 SH SOLE 241400 0 0 VARIAN SEMICONDUCTOR EQUIPMN COM 922207105 1286 39450 SH SOLE 39450 0 0 VERIZON COMMUNICATIONS COM 92343V104 74530 2225442 SH SOLE 2225442 0 0 VODAFONE GROUP PLC NEW SPONSORED ADR 92857W100 37477 1759500 SH SOLE 1759500 0 0 W HLDG CO INC COM 929251106 1277 192050 SH SOLE 192050 0 0 WABTEC CORP COM 929740108 14479 387142 SH SOLE 387142 0 0 WACHOVIA CORP 2ND NEW COM 929903102 42858 792494 SH SOLE 792494 0 0 WADDELL & REED FINL INC CL A 930059100 2164 105260 SH SOLE 105260 0 0 WAL MART STORES INC COM 931142103 54759 1136779 SH SOLE 1136779 0 0 WALGREEN CO COM 931422109 64265 1433200 SH SOLE 1433200 0 0 WASHINGTON MUT INC COM 939322103 29137 639239 SH SOLE 639239 0 0 WAUSAU PAPER CORP COM 943315101 2287 183682 SH SOLE 183682 0 0 WEATHERFORD INTERNATIONAL LT COM G95089101 112538 2267991 SH SOLE 2267991 0 0 WEBEX COMMUNICATIONS INC COM 94767L109 6921 194713 SH SOLE 194713 0 0 WELLCARE HEALTH PLANS INC COM 94946T106 3662 74647 SH SOLE 74647 0 0 WELLPOINT INC COM 94973V107 99296 1364525 SH SOLE 1364525 0 0 WELLS FARGO & CO NEW COM 949746101 41319 615966 SH SOLE 615966 0 0 WESCO INTL INC COM 95082P105 15456 224000 SH SOLE 224000 0 0 WINDROSE MED PPTYS TR COM 973491103 733 50175 SH SOLE 50175 0 0 WINTRUST FINANCIAL CORP COM 97650W108 8443 166024 SH SOLE 166024 0 0 WITNESS SYS INC COM 977424100 6900 342113 SH SOLE 342113 0 0 WORLD FUEL SVCS CORP COM 981475106 12259 268310 SH SOLE 268310 0 0 WYETH COM 983024100 32253 726257 SH SOLE 726257 0 0 WYETH DBCV 1/1 983024AD2 1400 1345000 SH SOLE 1345000 0 0 XL CAP LTD CL A G98255105 1592 25975 SH SOLE 25975 0 0 YAHOO INC COM 984332106 37574 1138600 SH SOLE 1138600 0 0 YAHOO INC FRNT 4/0 984332AB2 24701 15081000 PRN SOLE 15081000 0 0 ZENITH NATL INS CORP COM 989390109 2664 67150 SH SOLE 67150 0 0 ZORAN CORP COM 98975F101 865 35520 SH SOLE 35520 0 0
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