-----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, C/OsIU5LTVKKLMFXBlAcTeGCfrl5OCsu6WtK9jLe8SVfUyLxeqo+PqvxqXug+H8/ d2ZCrJl12QiyBxVaHSVLdg== 0001142941-08-000001.txt : 20080117 0001142941-08-000001.hdr.sgml : 20080117 20080117140235 ACCESSION NUMBER: 0001142941-08-000001 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071231 FILED AS OF DATE: 20080117 DATE AS OF CHANGE: 20080117 EFFECTIVENESS DATE: 20080117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DENALI ADVISORS LLC CENTRAL INDEX KEY: 0001142941 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10130 FILM NUMBER: 08535604 BUSINESS ADDRESS: STREET 1: 9191 TOWNE CENTRE DR STREET 2: SUITE 365 CITY: SAN DIEGO STATE: CA ZIP: 92122 BUSINESS PHONE: 8585583600 MAIL ADDRESS: STREET 1: 9191 TOWNE CENTRE DR STREET 2: SUITE 365 CITY: SAN DIEGO STATE: CA ZIP: 92122 13F-HR 1 report20071231.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13 (F) COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2007 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: Denali Advisors, LLC Address: 4275 Executive Square, Suite 650 La Jolla, CA 92037 Form 13F File Number: 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: Doug Palenchar Title: Chief Compliance Officer Phone: 858-558-3600 Signature, Place, and Date of Signing: /s/ Doug Palenchar La Jolla, CA January 17, 2008 - ------------------- ------------------ -------------------- [Signature] [City, State] [Date] 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 Form 13F Information Table Entry Total: 465 Form 13F Information Table Value Total: $1020679 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] 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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 1st Source Corporation COM 336901103 84 4840 SH SOLE 4840 0 0 3M CO COM 88579Y101 194 2300 SH SOLE 0 0 2300 A. Schulman, Inc. COM 808194104 32 1500 SH SOLE 1500 0 0 A.M. Castle & Co. COM 148411101 33 1200 SH SOLE 1200 0 0 AAR CORP COM 000361105 4043 106300 SH SOLE 48500 0 57800 ABM Industries Inc. COM 000957100 65 3200 SH SOLE 3200 0 0 ACE Limited COM G0070K103 16897 273500 SH SOLE 79600 0 193900 AES Corporation COM 00130H105 7390 345500 SH SOLE 113500 0 232000 AGL Resources Inc. COM 001204106 68 1800 SH SOLE 0 0 1800 ALEXION PHARMACEUTICALS INC COM 015351109 29974 399500 SH SOLE 125500 0 274000 ALLEGHENY ENERGY INC COM 017361106 9071 142600 SH SOLE 39600 0 103000 ALLSTATE CORP COM 020002101 8983 171990 SH SOLE 57900 0 114090 AMAG Pharmaceuticals, Inc. COM 00163U106 12 200 SH SOLE 200 0 0 AMB Property Corp COM 00163T109 109 1900 SH SOLE 0 0 1900 AMERICAN TOWER CORP-CL A COM 029912201 861 20200 SH SOLE 0 0 20200 AMR CORP COM 001765106 25 1800 SH SOLE 1800 0 0 ANIXTER INTERNATIONAL INC COM 035290105 56 900 SH SOLE 900 0 0 APOGEE ENTERPRISES INC COM 037598109 21 1200 SH SOLE 1200 0 0 APPLE INC COM 037833100 3011 15200 SH SOLE 5200 0 10000 ARCHER-DANIELS-MIDLAND CO COM 039483102 9332 201000 SH SOLE 30700 0 170300 ARGO GROUP INTERNATIONAL COM G0464B107 38 907 SH SOLE 907 0 0 AT&T INC COM 00206R102 15205 365858 SH SOLE 125100 0 240758 ATP Oil & Gas Corp COM 00208J108 182 3600 SH SOLE 1600 0 2000 ATWOOD OCEANICS INC COM 050095108 3729 37200 SH SOLE 13300 0 23900 Aaron Rents Inc. COM 002535201 44 2300 SH SOLE 2300 0 0 Activision Inc. COM 004930202 193 6500 SH SOLE 6500 0 0 Agco Corporation COM 001084102 20 300 SH SOLE 300 0 0 Air Products & Chemicals, Inc. COM 009158106 1884 19100 SH SOLE 5100 0 14000 Alliant Techsystems Inc COM 018804104 751 6600 SH SOLE 300 0 6300 Allied Waste Industries Inc. COM 019589308 40 3600 SH SOLE 0 0 3600 Alpharma Inc. COM 020813101 77 3800 SH SOLE 3800 0 0 Altria Group Inc COM 02209S103 8616 114000 SH SOLE 47200 0 66800 Ambac Financial Group Inc. COM 023139108 1551 60200 SH SOLE 0 0 60200 Amcore Financial Inc. COM 023912108 102 4500 SH SOLE 4500 0 0 Amerco COM 023586100 39 600 SH SOLE 600 0 0 Ameren Corp COM 023608102 7709 142200 SH SOLE 29800 0 112400 AmeriCredit Corp. COM 03060R101 68 5300 SH SOLE 3200 0 2100 American Electric Power COM 025537101 1737 37300 SH SOLE 0 0 37300 American Express Co. COM 025816109 1243 23900 SH SOLE 1600 0 22300 American Financial Group COM 025932104 762 26400 SH SOLE 5800 0 20600 American Financial Realty Tr COM 02607P305 57 7100 SH SOLE 7100 0 0 American Greetings cl A COM 026375105 81 4000 SH SOLE 4000 0 0 American Int'l Group, Inc. COM 026874107 641 11000 SH SOLE 5400 0 5600 American Physicians Capital COM 028884104 75 1800 SH SOLE 1800 0 0 American Superconduct COM 030111108 60 2200 SH SOLE 0 0 2200 AmerisourceBergen Corp COM 03073E105 422 9400 SH SOLE 800 0 8600 Anaren Inc COM 032744104 46 2800 SH SOLE 2800 0 0 Anchor Bancorp Wisconsin COM 032839102 68 2900 SH SOLE 2900 0 0 Andersons Inc. COM 034164103 18 400 SH SOLE 0 0 400 Ansys Incorporated COM 03662Q105 531 12800 SH SOLE 0 0 12800 Applied Industrial Tech COM 03820C105 73 2500 SH SOLE 2500 0 0 Apria Healthcare Group Inc COM 037933108 71 3300 SH SOLE 3300 0 0 Aqua America Inc COM 03836W103 66 3100 SH SOLE 0 0 3100 Arch Chemicals Inc. COM 03937R102 33 900 SH SOLE 900 0 0 Arctic Cat Inc. COM 039670104 45 3800 SH SOLE 3800 0 0 Arena Resources Inc. COM 040049108 67 1600 SH SOLE 900 0 700 Asbury Automotive Group COM 043436104 41 2700 SH SOLE 2700 0 0 Assurant Inc. COM 04621X108 281 4200 SH SOLE 0 0 4200 Avalonbay Communities COM 053484101 311 3300 SH SOLE 0 0 3300 Avocent Corporation COM 053893103 84 3600 SH SOLE 3600 0 0 BANK OF NEW YORK MELLON CORP COM 064058100 273 5596 SH SOLE 5596 0 0 BE Aerospace Inc. COM 073302101 682 12900 SH SOLE 0 0 12900 BIOMARIN PHARMACEUTICAL INC COM 09061G101 25 700 SH SOLE 700 0 0 BUCYRUS INTERNATIONAL INC-A COM 118759109 3787 38100 SH SOLE 12600 0 25500 Baldor Electric Co. COM 057741100 471 14000 SH SOLE 0 0 14000 BancorpSouth Inc COM 059692103 120 5100 SH SOLE 5100 0 0 Bank Mutual Corp COM 063750103 84 7900 SH SOLE 7900 0 0 Bank of America Corp COM 060505104 23749 575592 SH SOLE 163632 0 411960 Banner Corp. COM 06652V109 63 2200 SH SOLE 2200 0 0 Bear Stearns Cos COM 073902108 1994 22600 SH SOLE 5200 0 17400 Benchmark Electronics, Inc. COM 08160H101 53 3000 SH SOLE 3000 0 0 Berkshire Hathaway cl A COM 084670108 12178 86 SH SOLE 17 0 69 Bio-Rad Lab cl A COM 090572207 41 400 SH SOLE 0 0 400 Black Box Corporation COM 091826107 90 2500 SH SOLE 2500 0 0 Blackrock Inc. COM 09247X101 325 1500 SH SOLE 200 0 1300 Bob Evans Farms Inc. COM 096761101 40 1500 SH SOLE 1500 0 0 Boston Properties, Inc. COM 101121101 193 2100 SH SOLE 2100 0 0 Bristow Group, Inc. COM 110394103 385 6800 SH SOLE 0 0 6800 Brooks Automation Inc COM 114340102 49 3700 SH SOLE 3700 0 0 Building Materials Holding COM 120113105 23 4100 SH SOLE 4100 0 0 Bunge Limited COM G16962105 2142 18400 SH SOLE 0 0 18400 CARDINAL HEALTH INC COM 14149Y108 364 6300 SH SOLE 900 0 5400 CBL & Associates Properties COM 124830100 45 1900 SH SOLE 1900 0 0 CBS CORP-CLASS B COM 124857202 10832 397500 SH SOLE 121400 0 276100 CELANESE CORP-SERIES A COM 150870103 12539 296300 SH SOLE 100300 0 196000 CENTURY ALUMINUM COMPANY COM 156431108 275 5100 SH SOLE 4500 0 600 CEPHEID INC COM 15670R107 3091 117300 SH SOLE 49100 0 68200 CF Industries Holdings, Inc. COM 125269100 3236 29400 SH SOLE 10900 0 18500 CIT Group Inc. COM 125581108 144 6000 SH SOLE 1500 0 4500 CITIGROUP INC COM 172967101 20440 694310 SH SOLE 231600 0 462710 CMS ENERGY CORP COM 125896100 7174 412800 SH SOLE 130100 0 282700 CNX Gas Corp. COM 12618H309 26 800 SH SOLE 800 0 0 COMPUTER SCIENCES CORP COM 205363104 707 14300 SH SOLE 5100 0 9200 CONOCOPHILLIPS COM 20825C104 28097 318200 SH SOLE 137000 0 181200 CONTINENTAL AIRLINES-CLASS B COM 210795308 36 1600 SH SOLE 1600 0 0 CORNING INC COM 219350105 115 4800 SH SOLE 1700 0 3100 CROCS INC COM 227046109 9990 271400 SH SOLE 93500 0 177900 CROWN HOLDINGS INC COM 228368106 46 1800 SH SOLE 1800 0 0 CSS Industries Inc. COM 125906107 37 1000 SH SOLE 1000 0 0 CVS Caremark Corp. COM 126650100 1362 34255 SH SOLE 23412 0 10843 Calgon Carbon Corp COM 129603106 1502 94500 SH SOLE 35100 0 59400 Callaway Golf Company COM 131193104 131 7500 SH SOLE 7500 0 0 Cameron International COM 13342B105 1126 23400 SH SOLE 600 0 22800 Capital One Financial Corp. COM 14040H105 4891 103500 SH SOLE 16900 0 86600 Carrizo Oil & Gas Inc. COM 144577103 1024 18700 SH SOLE 4700 0 14000 Carters Inc COM 146229109 12 600 SH SOLE 600 0 0 Cascade Corp COM 147195101 56 1200 SH SOLE 1200 0 0 Cash America Int'l Inc. COM 14754D100 32 1000 SH SOLE 1000 0 0 Caterpillar Inc COM 149123101 951 13100 SH SOLE 5800 0 7300 CenterPoint Energy Inc COM 15189T107 50 2900 SH SOLE 0 0 2900 Central European Distribution COM 153435102 110 1900 SH SOLE 700 0 1200 Charming Shoppes Inc COM 161133103 36 6600 SH SOLE 6600 0 0 Chesapeake Energy Corp COM 165167107 1713 43700 SH SOLE 600 0 43100 Chevron Corp COM 166764100 20663 221400 SH SOLE 62100 0 159300 Chubb Corp COM 171232101 2063 37800 SH SOLE 29500 0 8300 Cincinnati Financial Corp COM 172062101 2325 58800 SH SOLE 5300 0 53500 Cisco Systems Inc. COM 17275R102 130 4800 SH SOLE 0 0 4800 Citizens Republic Bancorp, Inc COM 174420109 61 4200 SH SOLE 3300 0 900 Clarcor Inc. COM 179895107 103 2700 SH SOLE 0 0 2700 Cleco Corporation COM 12561W105 95 3400 SH SOLE 1700 0 1700 Coca-Cola Enterprises COM 191219104 86 3300 SH SOLE 0 0 3300 Cognizant Tech Solutions COM 192446102 862 25400 SH SOLE 0 0 25400 Colgate-Palmolive Co COM 194162103 203 2600 SH SOLE 1800 0 800 Complete Production Services COM 20453E109 40 2200 SH SOLE 2200 0 0 CompuCredit Corp COM 20478N100 71 7100 SH SOLE 5900 0 1200 Comstock Resources Inc. COM 205768203 405 11900 SH SOLE 1300 0 10600 ConAgra Foods, Inc. COM 205887102 1047 44000 SH SOLE 1200 0 42800 Conseco, Inc. COM 208464883 166 13200 SH SOLE 11500 0 1700 Consolidated Edison, Inc. COM 209115104 1656 33900 SH SOLE 0 0 33900 Constellation Energy Group COM 210371100 3804 37100 SH SOLE 12900 0 24200 Core Mark Hldg Co. Inc. COM 218681104 32 1100 SH SOLE 1100 0 0 Corus Bankshares Inc. COM 220873103 52 4900 SH SOLE 4900 0 0 Covance Inc. COM 222816100 78 900 SH SOLE 0 0 900 Cox Radio Inc. COM 224051102 46 3800 SH SOLE 3800 0 0 Crown Castle International COM 228227104 1148 27600 SH SOLE 6600 0 21000 Cummins Inc. COM 231021106 25 200 SH SOLE 200 0 0 DAVITA INC COM 23918K108 12312 218500 SH SOLE 81100 0 137400 DPL Inc. COM 233293109 119 4000 SH SOLE 0 0 4000 DSP Group Inc. COM 23332B106 51 4200 SH SOLE 4200 0 0 DTE Energy Company COM 233331107 145 3300 SH SOLE 0 0 3300 Darling International Inc. COM 237266101 243 21000 SH SOLE 9400 0 11600 Dawson Geophysical Co. COM 239359102 464 6500 SH SOLE 1100 0 5400 DealerTrack Holdings, Inc. COM 242309102 30 900 SH SOLE 0 0 900 Denbury Resources Inc. COM 247916208 3243 109000 SH SOLE 16600 0 92400 Diamond Offshore Drilling Inc. COM 25271C102 18801 132400 SH SOLE 43200 0 89200 Dime Community Bancshares COM 253922108 80 6300 SH SOLE 6300 0 0 Discover Financial Services COM 254709108 271 18000 SH SOLE 12100 0 5900 Discovery Holding Co. cl A COM 25468Y107 201 8000 SH SOLE 1300 0 6700 DuPont de Nemours & Co. COM 263534109 106 2400 SH SOLE 2400 0 0 Duke Energy Corp COM 26441C105 222 11000 SH SOLE 4600 0 6400 Dun & Bradstreet Corp COM 26483E100 106 1200 SH SOLE 300 0 900 EXXON MOBIL CORPORATION COM 30231G102 61536 656800 SH SOLE 234300 0 422500 Eastman Chemical Co. COM 277432100 2193 35900 SH SOLE 3800 0 32100 Eaton Corporation COM 278058102 330 3400 SH SOLE 0 0 3400 Eaton Vance Corp. COM 278265103 163 3600 SH SOLE 0 0 3600 Edison International COM 281020107 7189 134700 SH SOLE 50500 0 84200 El Paso Electric Co. COM 283677854 77 3000 SH SOLE 3000 0 0 Electro Scientific Industries COM 285229100 73 3700 SH SOLE 3700 0 0 Electronic Data Systems COM 285661104 4038 194800 SH SOLE 104100 0 90700 EnerSys Inc COM 29275Y102 602 24100 SH SOLE 2000 0 22100 Entegris Inc COM 29362U104 42 4900 SH SOLE 4900 0 0 Enterprise Products Part LP COM 293792107 402 12600 SH SOLE 0 0 12600 Evergreen Solar Inc COM 30033R108 1813 105000 SH SOLE 13700 0 91300 Exelon Corp COM 30161N101 8352 102300 SH SOLE 32900 0 69400 Express Scripts Inc COM 302182100 51 700 SH SOLE 0 0 700 FIRST CASH FINL SVCS INC COM 31942D107 298 20300 SH SOLE 17800 0 2500 FRANKLIN RESOURCES INC COM 354613101 103 900 SH SOLE 900 0 0 FREEPORT-MCMORAN COPPER COM 35671D857 12293 120000 SH SOLE 39700 0 80300 Financial Federal Corp COM 317492106 56 2500 SH SOLE 2500 0 0 First Niagara Financial Group COM 33582V108 66 5500 SH SOLE 5500 0 0 FirstEnergy Corporation COM 337932107 354 4900 SH SOLE 4900 0 0 FirstFed Financiall Corp COM 337907109 394 11000 SH SOLE 0 0 11000 Forest Oil Corp COM 346091705 147 2900 SH SOLE 0 0 2900 Fortune Brands, Inc. COM 349631101 145 2000 SH SOLE 0 0 2000 Freddie Mac COM 313400301 555 16300 SH SOLE 800 0 15500 Frontier Financial Corp COM 35907K105 22 1200 SH SOLE 1200 0 0 G&K Services cl A COM 361268105 71 1900 SH SOLE 1900 0 0 GENCORP INC COM 368682100 19 1600 SH SOLE 1600 0 0 GENENTECH INC COM 368710406 47 700 SH SOLE 700 0 0 GENERAL CABLE CORP COM 369300108 4294 58600 SH SOLE 9300 0 49300 GENERAL ELECTRIC CO COM 369604103 26468 714000 SH SOLE 227200 0 486800 GENWORTH FINANCIAL INC-CL A COM 37247D106 13738 539800 SH SOLE 172100 0 367700 GOODYEAR TIRE & RUBBER CO COM 382550101 737 26100 SH SOLE 5500 0 20600 GRANT PRIDECO INC COM 38821G101 2198 39600 SH SOLE 30000 0 9600 Gannett Co. Inc. COM 364730101 172 4400 SH SOLE 0 0 4400 General Growth Properties COM 370021107 37 900 SH SOLE 900 0 0 General Mills Inc. COM 370334104 222 3900 SH SOLE 0 0 3900 Glatfelter COM 377316104 41 2700 SH SOLE 2700 0 0 Goldman Sachs Group Inc COM 38141G104 43 200 SH SOLE 200 0 0 Goodman Global, Inc COM 38239A100 93 3800 SH SOLE 2900 0 900 Graftech International Ltd COM 384313102 91 5100 SH SOLE 0 0 5100 Gray Television Inc COM 389375106 68 8500 SH SOLE 8500 0 0 Greif Inc cl A COM 397624107 65 1000 SH SOLE 700 0 300 Group 1 Automotive, Inc. COM 398905109 48 2000 SH SOLE 2000 0 0 H&R Block Inc. COM 093671105 97 5200 SH SOLE 3100 0 2100 H.B. Fuller Company COM 359694106 29 1300 SH SOLE 1300 0 0 H.J. Heinz Company COM 423074103 1064 22800 SH SOLE 0 0 22800 HARTFORD FINANCIAL SVCS GRP COM 416515104 4464 51200 SH SOLE 33100 0 18100 HEWLETT-PACKARD CO COM 428236103 707 14000 SH SOLE 8700 0 5300 HLTH CORP COM 40422Y101 16 1200 SH SOLE 1200 0 0 HUMANA INC COM 444859102 98 1300 SH SOLE 1300 0 0 Hanesbrands, Inc. COM 410345102 1070 39400 SH SOLE 7400 0 32000 Hansen Natural Corp. COM 411310105 27 600 SH SOLE 0 0 600 Harleysville Group, Inc. COM 412824104 81 2300 SH SOLE 2300 0 0 Harris Corporation COM 413875105 3604 57500 SH SOLE 19400 0 38100 Health Management Assoc COM 421933102 16 2600 SH SOLE 0 0 2600 Healthcare Realty Trust Inc. COM 421946104 66 2600 SH SOLE 2600 0 0 Hearst-Argyle Television Inc COM 422317107 15 700 SH SOLE 0 0 700 Hercules Offshore, Inc. COM 427093109 31 1300 SH SOLE 1300 0 0 Hess Corporation COM 42809H107 3187 31600 SH SOLE 2400 0 29200 Hittite Microwave Corporation COM 43365Y104 115 2400 SH SOLE 0 0 2400 Horace Mann Educators COM 440327104 53 2800 SH SOLE 2800 0 0 Hormel Foods Corp COM 440452100 296 7300 SH SOLE 200 0 7100 Host Hotels & Resorts, Inc. COM 44107P104 104 6100 SH SOLE 0 0 6100 Hudson City Bancorp Inc COM 443683107 138 9200 SH SOLE 0 0 9200 Huron Consulting Group COM 447462102 89 1100 SH SOLE 0 0 1100 IAC/InterActiveCorp COM 44919P300 16 600 SH SOLE 600 0 0 IKON Office Solutions Inc COM 451713101 43 3300 SH SOLE 3300 0 0 INTL BUSINESS MACHINES CORP COM 459200101 14788 136800 SH SOLE 36000 0 100800 ISIS Pharmaceuticals Inc. COM 464330109 194 12300 SH SOLE 200 0 12100 ITC Holdings Corporation COM 465685105 51 900 SH SOLE 0 0 900 Illinois Tool Works Inc. COM 452308109 311 5800 SH SOLE 5000 0 800 Inergy LP COM 456615103 34 1100 SH SOLE 1100 0 0 Infinity Prop & Casualty COM 45665Q103 51 1400 SH SOLE 1400 0 0 InfoSpace, Inc. COM 45678T201 58 3100 SH SOLE 3100 0 0 Ingles Markets cl A COM 457030104 28 1100 SH SOLE 1100 0 0 Ingram Micro Inc. COM 457153104 49 2700 SH SOLE 2700 0 0 Insight Enterprises, Inc. COM 45765U103 44 2400 SH SOLE 2400 0 0 Int'l Flavors & Fragrances COM 459506101 501 10400 SH SOLE 0 0 10400 Integrys Energy Group COM 45822P105 155 3000 SH SOLE 3000 0 0 International Paper Co. COM 460146103 5446 168200 SH SOLE 50100 0 118100 Intuitive Surgical, Inc. COM 46120E602 4218 13059 SH SOLE 3433 0 9626 Iomega Corporation COM 462030305 26 7400 SH SOLE 7400 0 0 Irwin Financial Corp. COM 464119106 33 4500 SH SOLE 4500 0 0 J.C. PENNEY CO INC COM 708160106 1914 43500 SH SOLE 4400 0 39100 JACOBS ENGINEERING GROUP INC COM 469814107 86 900 SH SOLE 900 0 0 JOHNSON & JOHNSON COM 478160104 7891 118300 SH SOLE 22900 0 95400 JPMorgan Chase & Co COM 46625H100 24073 551500 SH SOLE 248100 0 303400 John Wiley & Sons cl A COM 968223206 43 1000 SH SOLE 200 0 800 Jones Apparel Group, Inc. COM 480074103 42 2600 SH SOLE 2600 0 0 Jos. A. Bank Clothiers Inc. COM 480838101 34 1200 SH SOLE 1200 0 0 Journal Communications Inc. 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COM 494368103 180 2600 SH SOLE 600 0 2000 LAS VEGAS SANDS CORP COM 517834107 134 1300 SH SOLE 500 0 800 LEGG MASON INC COM 524901105 15 200 SH SOLE 200 0 0 LIFE TIME FITNESS INC COM 53217R207 1709 34400 SH SOLE 2300 0 32100 LKQ CORP COM 501889208 181 8600 SH SOLE 5600 0 3000 Lam Research Corporation COM 512807108 393 9100 SH SOLE 400 0 8700 LandAmerica Financial Group COM 514936103 50 1500 SH SOLE 1500 0 0 Landrys Restaurants Inc. COM 51508L103 49 2500 SH SOLE 2500 0 0 Lehman Brothers Hldgs COM 524908100 59 900 SH SOLE 900 0 0 Lennox International, Inc. COM 526107107 108 2600 SH SOLE 2600 0 0 Liberty Global, Inc. Class A COM 530555101 1348 34400 SH SOLE 8900 0 25500 Liberty Media Capital Sr A COM 53071M302 1340 11500 SH SOLE 2400 0 9100 Liberty Media Hldg Inter Sr A COM 53071M104 183 9600 SH SOLE 0 0 9600 LifePoint Hospitals, Inc. COM 53219L109 42 1400 SH SOLE 1400 0 0 Lifetime Brands, Inc COM 53222Q103 27 2100 SH SOLE 2100 0 0 Lincoln National Corp COM 534187109 2771 47600 SH SOLE 12000 0 35600 Loews Carolina Group COM 540424207 4529 53100 SH SOLE 10300 0 42800 Lubrizol Corporation COM 549271104 395 7300 SH SOLE 0 0 7300 M&F Worldwide Corp COM 552541104 27 500 SH SOLE 0 0 500 M&T Bank Corp. COM 55261F104 742 9100 SH SOLE 0 0 9100 MARATHON OIL CORP COM 565849106 2294 37700 SH SOLE 12400 0 25300 MARRIOTT INTERNATIONAL-CL A COM 571903202 14 400 SH SOLE 400 0 0 MBIA Inc COM 55262C100 473 25400 SH SOLE 0 0 25400 MCG Capital Corp COM 58047P107 14 1200 SH SOLE 0 0 1200 MCKESSON CORP COM 58155Q103 24036 366900 SH SOLE 133000 0 233900 MEDAREX INC COM 583916101 25 2400 SH SOLE 2400 0 0 MEDCO HEALTH SOLUTIONS INC COM 58405U102 10018 98800 SH SOLE 42800 0 56000 MEMC ELECTRONIC MATERIALS COM 552715104 97 1100 SH SOLE 700 0 400 MERCK & CO. INC. COM 589331107 105 1800 SH SOLE 0 0 1800 MERRILL LYNCH & CO INC COM 590188108 429 8000 SH SOLE 6300 0 1700 METLIFE INC COM 59156R108 17389 282200 SH SOLE 86500 0 195700 MFA Mortgage Invest Inc COM 55272X102 36 3900 SH SOLE 3900 0 0 MGE Energy Inc. COM 55277P104 46 1300 SH SOLE 1300 0 0 MICROSOFT CORP COM 594918104 5066 142300 SH SOLE 34300 0 108000 MORGAN STANLEY COM 617446448 2470 46500 SH SOLE 29300 0 17200 MORNINGSTAR INC COM 617700109 23 300 SH SOLE 300 0 0 MOSAIC CO/THE COM 61945A107 35736 378800 SH SOLE 117500 0 261300 MPS Group Inc COM 553409103 46 4200 SH SOLE 4200 0 0 MYRIAD GENETICS INC COM 62855J104 302 6500 SH SOLE 2000 0 4500 Magellan Health Svcs COM 559079207 47 1000 SH SOLE 1000 0 0 Manitowoc Company Inc COM 563571108 3330 68200 SH SOLE 0 0 68200 Manpower Inc. COM 56418H100 97 1700 SH SOLE 1700 0 0 Mariner Energy, Inc. COM 56845T305 210 9200 SH SOLE 5400 0 3800 Marshall & Ilsley Corp COM 571837103 71 2697 SH SOLE 599 0 2098 MeadWestvaco Corp COM 583334107 103 3300 SH SOLE 0 0 3300 MedCath Corp COM 58404W109 39 1600 SH SOLE 1600 0 0 Media General cl A COM 584404107 45 2100 SH SOLE 2100 0 0 Monolithic Power Systems, Inc COM 609839105 339 15800 SH SOLE 0 0 15800 NCI Building Systems, Inc. COM 628852105 9 300 SH SOLE 300 0 0 NII Holdings Inc COM 62913F201 77 1600 SH SOLE 1100 0 500 NRG ENERGY INC COM 629377508 3094 71400 SH SOLE 24500 0 46900 Nabors Industries Ltd. COM G6359F103 1359 49600 SH SOLE 23500 0 26100 National City Corp COM 635405103 1052 63900 SH SOLE 0 0 63900 Neustar, Inc. COM 64126X201 89 3100 SH SOLE 0 0 3100 NiSource Inc COM 65473P105 595 31500 SH SOLE 0 0 31500 Northeast Utilities COM 664397106 132 4200 SH SOLE 4200 0 0 Northern Trust Corp. COM 665859104 207 2700 SH SOLE 1300 0 1400 Northrop Grumman Corp COM 666807102 731 9300 SH SOLE 3000 0 6300 O Charleys Inc. 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