13F-HR 1 c39650_13f-hr.txt ---------------------------- OMB APPROVAL ---------------------------- OMB Number: Expires: Estimated average burden hours per response..... ---------------------------- SEC USE ONLY ---------------------------- ---------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13f Cover Page Report for the Calendar Year or Quarter Ended September 30, 2005 If amended report check here: |_| Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. David J. Greene and Company, LLC -------------------------------------------------------------------------------- Name of Institutional Investment Manager 599 Lexington Avenue, 12th Floor, New York, NY 10022 -------------------------------------------------------------------------------- Business Address (Street) (City) (State) (Zip) 13F File Number: 28-663 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, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Lee Unterman, Chief Compliance Officer 212.371.4200 -------------------------------------------------------------------------------- Name (Title) (Phone) ------------------------------------------ (Manual Signature of Person Duly Authorized to Submit This Report) ------------------------------------------ (Place and Date of Signing) Report Type: [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None Form 13F Information Table Entry Total: 191 Form 13F Information Table Value Total: $2,113,517 (thousands) List of Other Included Managers: Name and 13F file numbers of ALL Institutional Investment Managers with respect to which this schedule is filed (other than the one filing this report): (List in alphabetical order). [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] 13F File Numbers will be assigned to Institutional Investment Managers after they file their first report. 13F File No.: Name: 13F File No.: Name: ------------- --------------------- ------------- --------------------- 1. 28- 6. ------------- --------------------- ------------- --------------------- 2. 7. ------------- --------------------- ------------- --------------------- 3. 8. ------------- --------------------- ------------- --------------------- 4. 9. ------------- --------------------- ------------- --------------------- 5. 10. ------------- --------------------- ------------- --------------------- FORM 13F INFORMATION TABLE 09/30/05 REPORTING MANAGER : David J. Greene and Company, LLC PAGE 1
----------------------------------------------------------------------------------------------------------------------------------- ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ ----------- ------ ------ ------------------- ---------- -------- -------------------------- VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ ABERCROMBIE & FITCH CO Common Stock 002896207 598 12,000 SH SOLE 3,500 8,500 ACCELRYS INC. Common Stock 00430U103 13,315 1,969,648 SH SOLE 1,340,600 629,048 ADESA INC Common Stock 00686U104 26,307 1,190,355 SH SOLE 919,000 271,355 AKZO NV SPONSORED ADR Common Stock 010199305 20,612 472,200 SH SOLE 245,100 227,100 ALLETE INC Common Stock 018522300 13,881 303,004 SH SOLE 213,127 89,877 ALLIANCE GAMING CORP Common Stock 01859P609 26,366 2,430,044 SH SOLE 1,285,900 1,144,144 ALLIANCE SEMICONDUCTOR Common Stock 01877H100 5,479 1,863,747 SH SOLE 1,186,100 677,647 ALLIANT TECHSYSTEMS INC Common Stock 018804104 16,039 214,850 SH SOLE 141,700 73,150 AMERICAN ENERGY Common Stock 025637109 10 100,000 SH SOLE 100,000 AMERICAN EXPRESS CO Common Stock 025816109 1,697 29,537 SH SOLE 1,100 28,437 AMERICAN INTERNATIONAL Common Stock 026874107 1,399 22,578 SH SOLE 6,799 15,779 CELERA GENOMICS Common Stock 038020202 23,321 1,922,552 SH SOLE 1,346,100 576,452 ARAMARK CORP - CL B Common Stock 038521100 19,643 735,400 SH SOLE 413,100 322,300 ARCH CAPITAL GROUP LTD Common Stock 03937L105 283 5,700 SH SOLE 5,700 ARRIS GROUP INC Common Stock 04269Q100 10,723 904,156 SH SOLE 624,900 279,256 ARVINMERITOR INC. Common Stock 043353101 15,574 931,449 SH SOLE 513,500 417,949 ASSURANT INC Common Stock 04621X108 13,839 363,600 SH SOLE 279,100 84,500 AUTOLIV, INC. Common Stock 052800109 12,051 277,030 SH SOLE 159,280 117,750 BP PLC - SPON ADR Common Stock 055622104 1,167 16,466 SH SOLE 16,466 BALL CORP. Common Stock 058498106 6,970 189,700 SH SOLE 187,700 2,000 BARON SMALL CAP FUND Common Stock 068278308 381 16,502 SH SOLE 16,502 BEARINGPOINT INC Common Stock 074002106 40,364 5,318,107 SH SOLE 3,558,500 1,759,607 BECTON DICKINSON & CO Common Stock 075887109 215 4,110 SH SOLE 4,110 BERKLEY W R CORP Common Stock 084423102 5,720 144,887 SH SOLE 144,887 BERKSHIRE HATHAWAY CL B Common Stock 084670207 322 118 SH SOLE 118 BOSTON SCIENTIFIC CORP Common Stock 101137107 18,343 784,900 SH SOLE 415,600 369,300 BRINK'S CO Common Stock 109696104 52,892 1,288,158 SH SOLE 770,029 518,129 BRISTOL MYERS SQUIBB CO Common Stock 110122108 459 19,080 SH SOLE 19,080 BURLINGTON NORTHERN Common Stock 12189T104 241 4,026 SH SOLE 4,026 CIT GROUP INC Common Stock 125581108 19,233 425,705 SH SOLE 216,700 209,005 CMS ENERGY CORP Common Stock 125896100 26,450 1,607,902 SH SOLE 1,117,200 490,702 CNA SURETY CORPORATION Common Stock 12612L108 438 30,800 SH SOLE 20,800 10,000 CVS CORP Common Stock 126650100 6,046 208,400 SH SOLE 154,800 53,600 CALGON CARBON CORP Common Stock 129603106 3,442 435,673 SH SOLE 264,700 170,973 CAMBREX CORP Common Stock 132011107 13,200 696,200 SH SOLE 488,100 208,100 CAPITAL CROSSING BANK Common Stock 140071101 325 9,362 SH SOLE 9,362 CAREMARK RX INC Common Stock 141705103 7,170 143,599 SH SOLE 124,208 19,391 CENDANT CORPORATION Common Stock 151313103 30,943 1,499,157 SH SOLE 738,779 760,378 CENTERPOINT ENERGY INC Common Stock 15189T107 30,875 2,076,314 SH SOLE 1,380,500 695,814 CHEVRON CORP Common Stock 166764100 3,771 58,253 SH SOLE 6,913 51,340 CISCO SYSTEMS INC. Common Stock 17275R102 8,808 491,500 SH SOLE 126,400 365,100 PAGE COLUMN TOTALS 498,907
FORM 13 F 09/30/05 REPORTING MANAGER : David J. Greene and Company, LLC PAGE 2
------------------------------------------------------------------------------------------------------------------------------------ ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ ------------ ----- ------ ---------------------- ---------- -------- ------------------------- VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ CITIGROUP INC. Common Stock 172967101 13,929 305,990 SH SOLE 66,491 239,499 CITY INVESTING CO Common Stock 177900107 4 27,000 SH SOLE 23,300 3,700 CLAIRE'S STORES INC Common Stock 179584107 20,938 867,724 SH SOLE 543,200 324,524 COMCAST CORP CL A Common Stock 20030N101 949 32,312 SH SOLE 9,388 22,924 COMCAST CORP-SPECIAL CL A Common Stock 20030N200 5,583 194,000 SH SOLE 35,200 158,800 COMDISCO HLD CONTINGENT Common Stock 200334118 225 661,334 SH SOLE 445,250 216,084 COMMUNITY HEALTH Common Stock 203668108 23,707 610,845 SH SOLE 434,500 176,345 COMPUTER ASSOCIATES INTL Common Stock 204912109 1,461 52,525 SH SOLE 29,900 22,625 CONOCOPHILLIPS Common Stock 20825C104 13,846 198,058 SH SOLE 56,200 141,858 CONSTAR INTERNATIONAL INC Common Stock 21036U107 2,393 1,184,686 SH SOLE 790,998 393,688 CONSTELLATION ENERGY Common Stock 210371100 357 5,788 SH SOLE 2,088 3,700 CORINTHIAN COLLEGES INC Common Stock 218868107 6,212 468,160 SH SOLE 346,400 121,760 CRANE CO. Common Stock 224399105 17,791 598,210 SH SOLE 328,400 269,810 CROWN HOLDING INC Common Stock 228368106 24,342 1,527,091 SH SOLE 1,107,070 420,021 CYTEC INDUSTRIES INC. Common Stock 232820100 57,419 1,323,639 SH SOLE 836,400 487,239 DIEBOLD INC Common Stock 253651103 4,676 135,700 SH SOLE 130,200 5,500 DIME BANCORP-LITIGATION Common Stock 25429Q110 988 6,177,961 SH SOLE 3,566,334 2,611,627 DISNEY (WALT) COMPANY Common Stock 254687106 5,374 222,700 SH SOLE 67,900 154,800 DOLLAR TREE STORES INC Common Stock 256747106 13,992 646,300 SH SOLE 353,700 292,600 RR DONNELLY & SONS CO Common Stock 257867101 1,663 44,860 SH SOLE 6,864 37,996 EARTHLINK INC Common Stock 270321102 16,576 1,549,168 SH SOLE 1,059,500 489,668 ENTERASYS NETWORKS INC Common Stock 293637104 134 100,000 SH SOLE 100,000 EXIDE TECHNOLOGIES Common Stock 302051206 7,351 1,447,070 SH SOLE 1,068,200 378,870 EXXON MOBIL CORPORATION Common Stock 30231G102 4,100 64,520 SH SOLE 1,840 62,680 FAIRCHILD SEMICON INTL Common Stock 303726103 26,073 1,754,594 SH SOLE 1,225,100 529,494 FINOVA GROUP INC Common Stock 317928109 1 10,900 SH SOLE 10,900 FIRST AMERICAN FINL CORP Common Stock 318522307 46,680 1,022,120 SH SOLE 721,500 300,620 FIRST DATA CORPORATION Common Stock 319963104 9,528 238,200 SH SOLE 58,800 179,400 FLAMEL TECHNOLOGIES - SP Common Stock 338488109 9,569 511,728 SH SOLE 359,000 152,728 FLOWSERVE CORP Common Stock 34354P105 13,100 360,397 SH SOLE 253,800 106,597 FOUNDRY NETWORKS INC Common Stock 35063R100 13,341 1,050,502 SH SOLE 731,900 318,602 FREESCALE SEMICONDUCTOR - Common Stock 35687M107 5,267 225,000 SH SOLE 224,300 700 FREESCALE SEMICONDUCTOR - Common Stock 35687M206 641 27,171 SH SOLE 7,650 19,521 FRONTIER OIL CORP Common Stock 35914P105 259 5,848 SH SOLE 5,848 GATX CORP Common Stock 361448103 7,131 180,292 SH SOLE 108,300 71,992 GENERAL DYNAMICS CORP Common Stock 369550108 7,448 62,300 SH SOLE 45,400 16,900 GENERAL ELECTRIC CO Common Stock 369604103 2,237 66,426 SH SOLE 66,426 GLAXOSMITHKLINE PLC- ADR Common Stock 37733W105 231 4,506 SH SOLE 4,506 GLOBAL INDS LTD COM Common Stock 379336100 8,480 575,300 SH SOLE 403,400 171,900 GRUPO TMM SA-SP ADR A Common Stock 40051D105 7,615 1,857,354 SH SOLE 1,257,200 600,154 HCA INC Common Stock 404119109 8,927 186,300 SH SOLE 120,600 65,700 PAGE COLUMN TOTALS 410,540
FORM 13 F 09/30/05 REPORTING MANAGER : David J. Greene and Company, LLC PAGE 3
------------------------------------------------------------------------------------------------------------------------------------ ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ ------------- ------ ------ -------------------- ---------- -------- ----------------------- VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ HASBRO INC Common Stock 418056107 3,928 199,900 SH SOLE 197,900 2,000 HEALTHSOUTH CORPORATION Common Stock 421924101 2,951 712,690 SH SOLE 204,650 508,040 HEALTH NET INC Common Stock 42222G108 44,672 944,039 SH SOLE 604,280 339,759 HERCULES INC Common Stock 427056106 16,337 1,336,873 SH SOLE 947,500 389,373 THE HERSHEY COMPANY Common Stock 427866108 272 4,832 SH SOLE 4,832 IDT CORP CL B Common Stock 448947309 122 10,000 SH SOLE 10,000 INFOCUS CORP Common Stock 45665B106 5,225 1,514,577 SH SOLE 1,063,400 451,177 INPUT/OUTPUT INC Common Stock 457652105 11,000 1,378,446 SH SOLE 945,690 432,756 INTEL CORPORATION Common Stock 458140100 614 24,918 SH SOLE 1,000 23,918 INTL BUSINESS MACHINES Common Stock 459200101 12,967 161,638 SH SOLE 44,400 117,238 IVAX CORP Common Stock 465823102 36,444 1,382,534 SH SOLE 741,900 640,634 JACUZZI BRANDS INC Common Stock 469865109 18,616 2,309,708 SH SOLE 1,595,400 714,308 JO-ANN STORES INC Common Stock 47758P307 13,215 763,860 SH SOLE 540,500 223,360 JOHNSON & JOHNSON Common Stock 478160104 1,402 22,152 SH SOLE 22,152 JOHNSON CONTROLS INC Common Stock 478366107 15,463 249,210 SH SOLE 163,400 85,810 KANSAS CITY STHRN INDS INC Common Stock 485170302 17,553 753,030 SH SOLE 529,200 223,830 KEYNOTE SYSTEMS INC Common Stock 493308100 15,887 1,223,977 SH SOLE 830,800 393,177 KIMBERLY CLARK CORP Common Stock 494368103 2,068 34,740 SH SOLE 19,800 14,940 LA-Z-BOY INC Common Stock 505336107 8,276 627,410 SH SOLE 435,400 192,010 LABORATORY CORP OF Common Stock 50540R409 5,855 120,200 SH SOLE 119,300 900 LEAR CORP Common Stock 521865105 3,811 112,200 SH SOLE 110,600 1,600 LEAPFROG ENTERPRISES INC Common Stock 52186N106 15,750 1,066,318 SH SOLE 769,200 297,118 LEXMARK INTERNATIONAL Common Stock 529771107 14,389 235,700 SH SOLE 137,600 98,100 LINCOLN NATIONAL CORP Common Stock 534187109 7,808 150,100 SH SOLE 94,100 56,000 LIZ CLAIBORNE Common Stock 539320101 15,571 396,000 SH SOLE 203,600 192,400 LUCENT TECHNOLOGIES, INC. Common Stock 549463107 72 22,134 SH SOLE 22,134 MAGELLAN HEALTH SERVICES Common Stock 559079207 27,113 771,362 SH SOLE 459,900 311,462 MANITOWOC CO, INC Common Stock 563571108 17,286 343,994 SH SOLE 241,200 102,794 MAXTOR CORP Common Stock 577729205 27,767 6,325,006 SH SOLE 4,461,700 1,863,306 MAXWELL TECHNOLOGIES INC Common Stock 577767106 4,487 317,758 SH SOLE 202,288 115,470 MEADWESTVACO CORP Common Stock 583334107 13,685 495,472 SH SOLE 297,200 198,272 MEDTRONIC INC COM Common Stock 585055106 225 4,200 SH SOLE 4,200 MILACRON INC Common Stock 598709103 5,130 2,881,764 SH SOLE 2,021,117 860,647 MILLIPORE CORP Common Stock 601073109 616 9,800 SH SOLE 9,800 MOLSON COORS BREWING CO Common Stock 60871R209 29,974 468,272 SH SOLE 334,232 134,040 MORGAN STANLEY Common Stock 617446448 9,021 167,250 SH SOLE 64,100 103,150 MOSAIC CO Common Stock 61945A107 13,808 861,922 SH SOLE 603,013 258,909 MYRIAD GENETICS INC Common Stock 62855J104 16,875 771,939 SH SOLE 548,100 223,839 NATIONAL OILWELL VARCO Common Stock 637071101 16,046 243,856 SH SOLE 172,710 71,146 NAVISTAR INTL Common Stock 63934E108 34,949 1,077,664 SH SOLE 658,861 418,803 NEWALLIANCE BANCSHARES Common Stock 650203102 9,050 618,200 SH SOLE 361,600 256,600 PAGE COLUMN TOTALS 516,299
FORM 13 F 09/30/05 REPORTING MANAGER : David J. Greene and Company, LLC PAGE 4
------------------------------------------------------------------------------------------------------------------------------------ ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ ----------- ------ ------ -------------------- ---------- -------- ---------------------- VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ NOKIA CORP - SPON ADR Common Stock 654902204 11,622 687,300 SH SOLE 183,200 504,100 NORTEL NETWORKS CORP Common Stock 656568102 452 138,563 SH SOLE 138,563 NORTH FORK Common Stock 659424105 15,872 622,426 SH SOLE 426,682 195,744 OMNICARE INC Common Stock 681904108 208 3,700 SH SOLE 3,600 100 ORBITAL SCIENCES CORP Common Stock 685564106 11,329 906,303 SH SOLE 643,400 262,903 ORMAT TECHNOLOGIES INC Common Stock 686688102 483 21,810 SH SOLE 18,500 3,310 PMI GROUP Common Stock 69344M101 6,032 151,300 SH SOLE 137,300 14,000 PACTIV CORPORATION Common Stock 695257105 6,046 345,100 SH SOLE 295,200 49,900 PALL CORP Common Stock 696429307 42,298 1,538,114 SH SOLE 1,124,600 413,514 PAREXEL INTERNATIONAL Common Stock 699462107 12,311 612,772 SH SOLE 429,275 183,497 PATHMARK STORES INC Common Stock 70322A101 12,407 1,099,934 SH SOLE 721,695 378,239 PFIZER INC Common Stock 717081103 12,298 492,517 SH SOLE 112,830 379,687 PHARMACOPEIA DRUG Common Stock 7171EP101 4,460 1,249,232 SH SOLE 792,029 457,203 PIER 1 IMPORTS INC Common Stock 720279108 8,063 715,419 SH SOLE 499,700 215,719 POLO RALPH LAUREN CORP Common Stock 731572103 18,068 359,212 SH SOLE 251,000 108,212 PROCTER & GAMBLE CO Common Stock 742718109 499 8,400 SH SOLE 8,400 QUANTUM CORP - DLT & Common Stock 747906204 22,557 7,300,078 SH SOLE 4,975,250 2,324,828 RSA SECURITY INC Common Stock 749719100 15,864 1,248,120 SH SOLE 875,800 372,320 RADIOSHACK CORP Common Stock 750438103 43,394 1,749,740 SH SOLE 1,105,900 643,840 RECKSON ASSOC REALTY Common Stock 75621K106 412 11,914 SH SOLE 10,000 1,914 RITE AID CORP Common Stock 767754104 45 11,500 SH SOLE 11,500 ROYAL DUTCH SHELL PLC Common Stock 780259206 537 8,176 SH SOLE 8,176 RYDER SYSTEM INC Common Stock 783549108 32,884 960,955 SH SOLE 703,700 257,255 SBC COMMUNICATIONS INC. Common Stock 78387G103 1,125 46,951 SH SOLE 2,374 44,577 SPX CORP Common Stock 784635104 18,209 396,273 SH SOLE 310,500 85,773 ST. PAUL TRAVELERS Common Stock 792860108 15,379 342,740 SH SOLE 168,330 174,410 SAKS INCORPORATED Common Stock 79377W108 6,016 325,200 SH SOLE 131,100 194,100 SANDISK CORP Common Stock 80004C101 12,557 260,300 SH SOLE 155,600 104,700 SCHOLASTIC CORP Common Stock 807066105 8,715 235,806 SH SOLE 163,200 72,606 SEACHANGE INTERNATIONAL Common Stock 811699107 3,342 525,430 SH SOLE 378,400 147,030 SOLECTRON CORP Common Stock 834182107 34,144 8,732,440 SH SOLE 5,390,400 3,342,040 SOVEREIGN BANCORP INC Common Stock 845905108 17,094 775,600 SH SOLE 424,200 351,400 SPRINT NEXTEL CORP Common Stock 852061100 304 12,766 SH SOLE 1,250 11,516 SUBURBAN PROPANE Common Stock 864482104 347 12,100 SH SOLE 12,100 SYBRON DENTAL SPECIALTIES, Common Stock 871142105 19,815 476,540 SH SOLE 338,066 138,474 TD BANKNORTH INC Common Stock 87235A101 304 10,077 SH SOLE 7,330 2,747 TJX COS INC Common Stock 872540109 20,483 1,000,150 SH SOLE 531,400 468,750 TARGET CORP Common Stock 87612E106 249 4,800 SH SOLE 4,800 TECUMSEH PRODUCTS CO - CL Common Stock 878895200 16,871 783,958 SH SOLE 556,100 227,858 TELEDYNE TECHNOLOGIES Common Stock 879360105 12,402 359,790 SH SOLE 256,500 103,290 3M CO Common Stock 88579Y101 352 4,800 SH SOLE 4,800 PAGE COLUMN TOTALS 465,847
< FORM 13 F 09/30/05 REPORTING MANAGER : David J. Greene and Company, LLC PAGE 5
------------------------------------------------------------------------------------------------------------------------------------ ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ -------------- ------ ------ ------------------- ---------- ---------------------------------- VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ TIBCO SOFTWARE INC Common Stock 88632Q103 25,394 3,037,500 SH SOLE 2,104,400 933,100 TIME WARNER INC Common Stock 887317105 14,755 814,740 SH SOLE 256,700 558,040 TORONTO-DOMINION BANK Common Stock 891160509 244 4,956 SH SOLE 3,596 1,360 TYCO INTERNATIONAL Common Stock 902124106 13,688 491,500 SH SOLE 164,100 327,400 UNDERGROUND SOLUTIONS Common Stock 904323102 8 40,000 SH SOLE 40,000 UNIFI INC Common Stock 904677101 2,697 807,420 SH SOLE 657,100 150,320 UNISYS CORP Common Stock 909214108 30,064 4,527,749 SH SOLE 3,261,900 1,265,849 UNITED PARCEL SERVICE INC Common Stock 911312106 277 4,000 SH SOLE 4,000 UTSTARCOM INC Common Stock 918076100 9,045 1,107,123 SH SOLE 623,900 483,223 VALASSIS COMMUNICATIONS Common Stock 918866104 13,989 358,876 SH SOLE 249,100 109,776 VERIZON COMMUNICATIONS Common Stock 92343V104 2,604 79,653 SH SOLE 12,118 67,535 VISTEON CORP Common Stock 92839U107 14,983 1,531,975 SH SOLE 1,083,400 448,575 VODAPHONE GROUP PLC Common Stock 92857W100 272 10,470 SH SOLE 35 10,435 WACHOVIA CORP (NEW) Common Stock 929903102 3,059 64,288 SH SOLE 7,898 56,390 WAL MART STORES INC Common Stock 931142103 6,446 147,100 SH SOLE 44,400 102,700 WASHINGTON MUTUAL INC Common Stock 939322103 11,104 283,121 SH SOLE 114,166 168,955 WASTE MANAGEMENT INC Common Stock 94106L109 11,676 408,100 SH SOLE 227,600 180,500 WATCHGUARD Common Stock 941105108 4,028 938,969 SH SOLE 643,100 295,869 WAVECOM SA - ADR Common Stock 943531103 9,362 609,087 SH SOLE 425,737 183,350 WELLPOINT INC Common Stock 94973V107 243 3,200 SH SOLE 3,200 WYETH Common Stock 983024100 260 5,618 SH SOLE 210 5,408 YUM BRANDS INC Common Stock 988498101 920 19,000 SH SOLE 15,100 3,900 ZORAN CORP Common Stock 98975F101 12,530 876,225 SH SOLE 613,900 262,325 RENAISSANCE RE HLDGS LTD Common Stock G7496G103 3,092 70,700 SH SOLE 70,700 RADWARE LTD Common Stock M81873107 7,212 378,570 SH SOLE 264,600 113,970 CNH GLOBAL N.V. Common Stock N20935206 17,029 864,427 SH SOLE 608,320 256,107 FLEXTRONICS INTL TLD Common Stock Y2573F102 6,944 540,400 SH SOLE 539,500 900 PAGE COLUMN TOTALS 221,924 AGGREGATE COLUMN TOTALS 2,113,517