-----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, TGfQ6rpJVtTOV1qO1Ck5yl36XIFqdh5y40rpLzuYOaR6hhXLSkl+4iuetvOxm1fv xeKoMjNOiaTvyVio9TM9zg== 0001142941-07-000004.txt : 20071018 0001142941-07-000004.hdr.sgml : 20071018 20071018132308 ACCESSION NUMBER: 0001142941-07-000004 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070930 FILED AS OF DATE: 20071018 DATE AS OF CHANGE: 20071018 EFFECTIVENESS DATE: 20071018 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: 071178400 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 report20070930.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13 (F) COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 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: 9191 Towne Centre Drive, Suite 365 San Diego, CA 92122 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 San Diego, CA October 18, 2007 - ------------------- ------------------ -------------------- [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: 437 Form 13F Information Table Value Total: $1131422 (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 111 4840 SH SOLE 4840 0 0 3M Company COM 88579Y101 215 2300 SH SOLE 0 0 2300 A.M. Castle & Co. COM 148411101 39 1200 SH SOLE 1200 0 0 AAR Corp. COM 000361105 3073 101300 SH SOLE 40200 0 61100 ABM Industries Inc. COM 000957100 64 3200 SH SOLE 3200 0 0 ACE Limited COM G0070K103 18044 297900 SH SOLE 78900 0 219000 AES Corporation COM 00130H105 8425 420400 SH SOLE 115300 0 305100 AFLAC Inc. COM 001055102 6 100 SH SOLE 0 0 100 AMR Corporation COM 001765106 2715 121800 SH SOLE 22800 0 99000 ARGO Group International COM G0464B107 131 3002 SH SOLE 3002 0 0 AT&T Inc. COM 00206R102 12547 296558 SH SOLE 118700 0 177858 ATP Oil & Gas Corp COM 00208J108 127 2700 SH SOLE 2400 0 300 Acco Brands Corporation COM 00081T108 34 1500 SH SOLE 1500 0 0 Activision Inc. COM 004930202 140 6500 SH SOLE 6500 0 0 Adams Respiratory Therapeutics COM 00635P107 358 9300 SH SOLE 0 0 9300 Air Products & Chemicals, Inc. COM 009158106 2327 23800 SH SOLE 4700 0 19100 Alaska Air Group Inc COM 011659109 53 2300 SH SOLE 1600 0 700 Alexion Pharmaceuticals, Inc. COM 015351109 11043 169500 SH SOLE 53000 0 116500 Allegheny Energy Inc COM 017361106 4306 82400 SH SOLE 11400 0 71000 Alliance One Int'l Inc. COM 018772103 82 12500 SH SOLE 12500 0 0 Alliant Techsystems Inc COM 018804104 1454 13300 SH SOLE 300 0 13000 Allied Waste Industries Inc. COM 019589308 74 5800 SH SOLE 0 0 5800 Allstate Corporation COM 020002101 15944 278790 SH SOLE 94300 0 184490 Alpharma Inc. COM 020813101 81 3800 SH SOLE 3800 0 0 Altria Group Inc COM 02209S103 8010 115200 SH SOLE 44500 0 70700 Ambac Financial Group Inc. COM 023139108 1692 26900 SH SOLE 2200 0 24700 Amcore Financial Inc. COM 023912108 112 4500 SH SOLE 4500 0 0 Ameren Corp COM 023608102 1475 28100 SH SOLE 5600 0 22500 AmeriCredit Corp. COM 03060R101 308 17500 SH SOLE 7900 0 9600 American Electric Power COM 025537101 1576 34200 SH SOLE 0 0 34200 American Express Co. COM 025816109 1461 24600 SH SOLE 1900 0 22700 American Financial Group COM 025932104 820 28750 SH SOLE 5800 0 22950 American Financial Realty Tr COM 02607P305 57 7100 SH SOLE 7100 0 0 American Greetings cl A COM 026375105 106 4000 SH SOLE 4000 0 0 American Int'l Group, Inc. COM 026874107 744 11000 SH SOLE 5400 0 5600 American Physicians Capital COM 028884104 70 1800 SH SOLE 1800 0 0 American Tower Corp. COM 029912201 880 20200 SH SOLE 0 0 20200 AmerisourceBergen Corp COM 03073E105 6378 140700 SH SOLE 30700 0 110000 Amgen Inc. COM 031162100 973 17200 SH SOLE 2400 0 14800 Amphenol Corporation COM 032095101 151 3800 SH SOLE 700 0 3100 Anchor Bancorp Wisconsin COM 032839102 78 2900 SH SOLE 2900 0 0 Andersons Inc. COM 034164103 19 400 SH SOLE 0 0 400 Anixter International, Inc. COM 035290105 49 600 SH SOLE 600 0 0 Ansys Incorporated COM 03662Q105 437 12800 SH SOLE 0 0 12800 Apple Inc. COM 037833100 583 3800 SH SOLE 1600 0 2200 Applied Industrial Tech COM 03820C105 77 2500 SH SOLE 2500 0 0 Apria Healthcare Group Inc COM 037933108 86 3300 SH SOLE 3300 0 0 Archer Daniels Midland COM 039483102 7476 226000 SH SOLE 35100 0 190900 Arctic Cat Inc. COM 039670104 62 3800 SH SOLE 3800 0 0 ArvinMeritor Inc COM 043353101 91 5400 SH SOLE 5400 0 0 Asbury Automotive Group COM 043436104 53 2700 SH SOLE 2700 0 0 Ashland Inc. COM 044209104 18 300 SH SOLE 0 0 300 Assurant Inc. COM 04621X108 107 2000 SH SOLE 0 0 2000 Atwood Oceanics Inc COM 050095108 919 12000 SH SOLE 1400 0 10600 AutoNation Inc. COM 05329W102 21 1177 SH SOLE 1177 0 0 Avocent Corporation COM 053893103 105 3600 SH SOLE 3600 0 0 BE Aerospace Inc. COM 073302101 706 17000 SH SOLE 1000 0 16000 Baker Hughes Inc. COM 057224107 8359 92500 SH SOLE 18000 0 74500 Baldor Electric Co. COM 057741100 559 14000 SH SOLE 0 0 14000 Ball Corporation COM 058498106 86 1600 SH SOLE 0 0 1600 BancorpSouth Inc COM 059692103 124 5100 SH SOLE 5100 0 0 Bank Mutual Corp COM 063750103 93 7900 SH SOLE 7900 0 0 Bank New York Mellon Corp. COM 064058100 313 7096 SH SOLE 6696 0 400 Bank of America Corp COM 060505104 31846 633492 SH SOLE 163632 0 469860 Banner Corp. COM 06652V109 76 2200 SH SOLE 2200 0 0 Bear Stearns Cos COM 073902108 3181 25900 SH SOLE 8100 0 17800 Bemis Company Inc. COM 081437105 474 16300 SH SOLE 0 0 16300 Benchmark Electronics, Inc. COM 08160H101 72 3000 SH SOLE 3000 0 0 Berkshire Hathaway cl A COM 084670108 9955 84 SH SOLE 11 0 73 BioMarin Pharmaceutical COM 09061G101 9616 386200 SH SOLE 108200 0 278000 Black Box Corporation COM 091826107 107 2500 SH SOLE 2500 0 0 Bon-Ton Stores Inc. COM 09776J101 30 1300 SH SOLE 1300 0 0 Boston Properties, Inc. COM 101121101 218 2100 SH SOLE 2100 0 0 Bradley Pharmaceuticals Inc COM 104576103 64 3500 SH SOLE 3500 0 0 Bucyrus Intl Inc cl A COM 118759109 3413 46800 SH SOLE 15900 0 30900 Building Materials Holding COM 120113105 43 4100 SH SOLE 4100 0 0 Bunge Limited COM G16962105 1977 18400 SH SOLE 0 0 18400 CBL & Associates Properties COM 124830100 67 1900 SH SOLE 1900 0 0 CBS Corp. Class B COM 124857202 13756 436700 SH SOLE 128900 0 307800 CIT Group Inc. COM 125581108 117 2900 SH SOLE 2900 0 0 CMS Energy Corp COM 125896100 9675 575200 SH SOLE 175800 0 399400 CNA Financial Corpora COM 126117100 63 1600 SH SOLE 300 0 1300 CSS Industries Inc. COM 125906107 36 1000 SH SOLE 1000 0 0 CVS Caremark Corp. COM 126650100 1369 34555 SH SOLE 23712 0 10843 Cabelas Inc COM 126804301 397 16800 SH SOLE 0 0 16800 Cadence Design Systems, Inc. COM 127387108 246 11100 SH SOLE 3000 0 8100 Callaway Golf Company COM 131193104 120 7500 SH SOLE 7500 0 0 Capital One Financial Corp. COM 14040H105 8118 122200 SH SOLE 28600 0 93600 Cardinal Health Inc. COM 14149Y108 3864 61800 SH SOLE 8800 0 53000 Carters Inc COM 146229109 86 4300 SH SOLE 2000 0 2300 Cascade Corp COM 147195101 78 1200 SH SOLE 1200 0 0 Cash America Int'l Inc. COM 14754D100 696 18500 SH SOLE 16700 0 1800 Caterpillar Inc COM 149123101 3490 44500 SH SOLE 19100 0 25400 Celanese Corp. COM 150870103 24343 624500 SH SOLE 202800 0 421700 CenterPoint Energy Inc COM 15189T107 77 4800 SH SOLE 0 0 4800 Central Garden & Pet Co. Cl A COM 153527205 31 3500 SH SOLE 3500 0 0 Century Aluminum Co. COM 156431108 15337 291300 SH SOLE 91300 0 200000 Chesapeake Energy Corp COM 165167107 1541 43700 SH SOLE 600 0 43100 Chevron Corp COM 166764100 22272 238000 SH SOLE 62100 0 175900 Chubb Corp COM 171232101 1883 35100 SH SOLE 29500 0 5600 Cincinnati Financial Corp COM 172062101 485 11200 SH SOLE 0 0 11200 Cisco Systems Inc. COM 17275R102 159 4800 SH SOLE 0 0 4800 Citigroup, Inc. COM 172967101 38307 820810 SH SOLE 277900 0 542910 Citizens Republic Bancorp, Inc COM 174420109 53 3300 SH SOLE 2400 0 900 Cleco Corporation COM 12561W105 43 1700 SH SOLE 1700 0 0 Coca-Cola Enterprises COM 191219104 80 3300 SH SOLE 0 0 3300 Cognizant Tech Solutions COM 192446102 965 12100 SH SOLE 0 0 12100 Colgate-Palmolive Co COM 194162103 1605 22500 SH SOLE 15800 0 6700 Commerce Group, Inc. COM 200641108 127 4300 SH SOLE 4300 0 0 Compass Minerals Intl Inc COM 20451N101 1426 41900 SH SOLE 11000 0 30900 Complete Production Services COM 20453E109 74 3600 SH SOLE 3600 0 0 CompuCredit Corp COM 20478N100 4244 195500 SH SOLE 78400 0 117100 Computer Sciences Corp COM 205363104 1040 18600 SH SOLE 5500 0 13100 Comstock Resources Inc. COM 205768203 40 1300 SH SOLE 1300 0 0 Comtech Telecommunications COM 205826209 21 400 SH SOLE 0 0 400 ConAgra Foods, Inc. COM 205887102 1045 40000 SH SOLE 1200 0 38800 ConocoPhillips COM 20825C104 18282 208300 SH SOLE 78500 0 129800 Conseco, Inc. COM 208464883 424 26500 SH SOLE 16100 0 10400 Consolidated Edison, Inc. COM 209115104 1384 29900 SH SOLE 0 0 29900 Constellation Energy Group COM 210371100 3912 45600 SH SOLE 13100 0 32500 Continental Airlines Cl B COM 210795308 968 29300 SH SOLE 2300 0 27000 Core Mark Hldg Co. Inc. COM 218681104 39 1100 SH SOLE 1100 0 0 Corning Inc. COM 219350105 266 10800 SH SOLE 1700 0 9100 Crocs, Inc. COM 227046109 34 500 SH SOLE 500 0 0 Crown Castle International COM 228227104 1134 27900 SH SOLE 6900 0 21000 Crown Holdings, Inc. COM 228368106 1331 58500 SH SOLE 25000 0 33500 DSP Group Inc. COM 23332B106 66 4200 SH SOLE 4200 0 0 DaVita Inc. COM 23918K108 17659 279500 SH SOLE 90200 0 189300 Diamond Offshore Drilling Inc. COM 25271C102 8825 77900 SH SOLE 27700 0 50200 Dime Community Bancshares COM 253922108 94 6300 SH SOLE 6300 0 0 Discover Financial Services COM 254709108 407 19550 SH SOLE 12100 0 7450 Discovery Holding Co. cl A COM 25468Y107 9 300 SH SOLE 300 0 0 Dollar Thrifty Automotive COM 256743105 31 900 SH SOLE 900 0 0 Dover Corporation COM 260003108 1065 20900 SH SOLE 0 0 20900 Downey Financial Corp COM 261018105 35 600 SH SOLE 600 0 0 Dreamworks Animation SKG, Inc COM 26153C103 20 600 SH SOLE 0 0 600 Drew Industries Inc. COM 26168L205 53 1300 SH SOLE 1300 0 0 DuPont de Nemours & Co. COM 263534109 129 2600 SH SOLE 2600 0 0 Duke Energy Corp COM 26441C105 202 10800 SH SOLE 4400 0 6400 Dun & Bradstreet Corp COM 26483E100 49 500 SH SOLE 500 0 0 E*TRADE Financial Corp COM 269246104 18 1400 SH SOLE 1400 0 0 Eastman Chemical Co. COM 277432100 3724 55800 SH SOLE 5600 0 50200 Eaton Corporation COM 278058102 1268 12800 SH SOLE 0 0 12800 EchoStar Communications COM 278762109 131 2800 SH SOLE 900 0 1900 Edison International COM 281020107 7952 143400 SH SOLE 50500 0 92900 El Paso Electric Co. COM 283677854 69 3000 SH SOLE 3000 0 0 Electro Scientific Industries COM 285229100 89 3700 SH SOLE 3700 0 0 Electronic Data Systems COM 285661104 5975 273600 SH SOLE 111900 0 161700 Ensco International, Inc. COM 26874Q100 56 1000 SH SOLE 0 0 1000 Enterprise Products Part LP COM 293792107 381 12600 SH SOLE 0 0 12600 Exelon Corp COM 30161N101 8734 115900 SH SOLE 32900 0 83000 Exxon Mobil Corporation COM 30231G102 69078 746300 SH SOLE 244200 0 502100 Federal Realty Investment COM 313747206 18 200 SH SOLE 0 0 200 Financial Federal Corp COM 317492106 70 2500 SH SOLE 2500 0 0 First Cash Fncl Svcs Inc. COM 31942D107 3560 151800 SH SOLE 35100 0 116700 First Niagara Financial Group COM 33582V108 78 5500 SH SOLE 5500 0 0 FirstEnergy Corporation COM 337932107 310 4900 SH SOLE 4900 0 0 Fortune Brands, Inc. COM 349631101 163 2000 SH SOLE 0 0 2000 Franklin Resources, Inc. COM 354613101 153 1200 SH SOLE 900 0 300 Freddie Mac COM 313400301 2048 34700 SH SOLE 4500 0 30200 Freeport-McMoRan Copper COM 35671D857 11590 110500 SH SOLE 37500 0 73000 Frontier Financial Corp COM 35907K105 28 1200 SH SOLE 1200 0 0 G&K Services cl A COM 361268105 76 1900 SH SOLE 1900 0 0 GAMCO Investors, Inc. COM 361438104 159 2900 SH SOLE 2900 0 0 Gardner Denver, Inc. COM 365558105 23 600 SH SOLE 0 0 600 GenCorp Inc. COM 368682100 14 1200 SH SOLE 1200 0 0 Genentech Inc. COM 368710406 86 1100 SH SOLE 1100 0 0 General Cable Corp. COM 369300108 1691 25200 SH SOLE 1100 0 24100 General Dynamics Corp. COM 369550108 203 2400 SH SOLE 2400 0 0 General Electric Co COM 369604103 32010 773200 SH SOLE 227000 0 546200 General Growth Properties COM 370021107 59 1100 SH SOLE 1100 0 0 Genworth Financial Inc COM 37247D106 18755 610300 SH SOLE 186300 0 424000 Glatfelter COM 377316104 40 2700 SH SOLE 2700 0 0 Goodman Global, Inc COM 38239A100 172 7200 SH SOLE 6300 0 900 Goodyear Tire & Rubber COM 382550101 6614 217500 SH SOLE 42800 0 174700 Grant Prideco Inc. COM 38821G101 7148 131100 SH SOLE 43100 0 88000 Gray Television Inc COM 389375106 72 8500 SH SOLE 8500 0 0 Greif Inc cl A COM 397624107 79 1300 SH SOLE 1000 0 300 Group 1 Automotive, Inc. COM 398905109 67 2000 SH SOLE 2000 0 0 H&R Block Inc. COM 093671105 125 5900 SH SOLE 3100 0 2800 H.J. Heinz Company COM 423074103 1372 29700 SH SOLE 0 0 29700 HCC Insurance Holdings Inc. COM 404132102 17 600 SH SOLE 0 0 600 HLTH Corporation COM 40422Y101 17 1200 SH SOLE 1200 0 0 Hanesbrands, Inc. COM 410345102 379 13500 SH SOLE 5200 0 8300 Hanmi Financial Corp COM 410495105 108 7000 SH SOLE 7000 0 0 Harleysville Group, Inc. COM 412824104 74 2300 SH SOLE 2300 0 0 Harris Corporation COM 413875105 4103 71000 SH SOLE 17100 0 53900 Hartford Financial Services COM 416515104 5349 57800 SH SOLE 33300 0 24500 Health Management Assoc COM 421933102 18 2600 SH SOLE 0 0 2600 Healthcare Realty Trust Inc. COM 421946104 69 2600 SH SOLE 2600 0 0 Hercules Incorporated COM 427056106 269 12800 SH SOLE 7900 0 4900 Hercules Offshore, Inc. COM 427093109 34 1300 SH SOLE 1300 0 0 Hess Corporation COM 42809H107 1856 27900 SH SOLE 0 0 27900 Hewlett-Packard Co COM 428236103 697 14000 SH SOLE 8700 0 5300 Hittite Microwave Corporation COM 43365Y104 265 6000 SH SOLE 0 0 6000 Host Hotels & Resorts, Inc. COM 44107P104 211 9400 SH SOLE 1000 0 8400 Humana Inc. COM 444859102 210 3000 SH SOLE 3000 0 0 IBM Corp COM 459200101 23595 200300 SH SOLE 66000 0 134300 Illinois Tool Works Inc. COM 452308109 346 5800 SH SOLE 5000 0 800 Inergy LP COM 456615103 35 1100 SH SOLE 1100 0 0 Infinity Prop & Casualty COM 45665Q103 56 1400 SH SOLE 1400 0 0 InfoSpace, Inc. COM 45678T201 54 3100 SH SOLE 3100 0 0 Ingles Markets cl A COM 457030104 32 1100 SH SOLE 1100 0 0 Ingram Micro Inc. COM 457153104 80 4100 SH SOLE 4100 0 0 Int'l Flavors & Fragrances COM 459506101 550 10400 SH SOLE 0 0 10400 Integrys Energy Group COM 45822P105 154 3000 SH SOLE 3000 0 0 International Paper Co. COM 460146103 6819 190100 SH SOLE 50100 0 140000 Internet Capital Group Inc. COM 46059C205 41 3400 SH SOLE 3400 0 0 Interpublic Group COM 460690100 39 3800 SH SOLE 0 0 3800 Iomega Corporation COM 462030305 39 7400 SH SOLE 7400 0 0 Irwin Financial Corp. COM 464119106 50 4500 SH SOLE 4500 0 0 J.C. Penney Company Inc. COM 708160106 9461 149300 SH SOLE 29600 0 119700 JPMorgan Chase & Co COM 46625H100 22543 492000 SH SOLE 215000 0 277000 John Wiley & Sons cl A COM 968223206 198 4400 SH SOLE 0 0 4400 Johnson & Johnson COM 478160104 8068 122800 SH SOLE 22900 0 99900 Jos. A. Bank Clothiers Inc. COM 480838101 40 1200 SH SOLE 1200 0 0 Joy Global Inc COM 481165108 1912 37600 SH SOLE 11200 0 26400 KNBT Bancorp Inc. COM 482921103 103 6200 SH SOLE 6200 0 0 Kadant Inc COM 48282T104 76 2700 SH SOLE 2700 0 0 Kellogg Company COM 487836108 375 6700 SH SOLE 2500 0 4200 Kelly Services cl A COM 488152208 52 2600 SH SOLE 2600 0 0 Kennametal Inc. COM 489170100 705 8400 SH SOLE 0 0 8400 KeyCorp COM 493267108 191 5900 SH SOLE 4200 0 1700 Kforce Inc COM 493732101 36 2800 SH SOLE 2800 0 0 Kimberly-Clark Corp. COM 494368103 28 400 SH SOLE 0 0 400 Koppers Holdings Inc. COM 50060P106 224 5800 SH SOLE 2500 0 3300 Kraft Foods Inc COM 50075N104 2102 60907 SH SOLE 13600 0 47307 Kroger Company COM 501044101 5319 186500 SH SOLE 112200 0 74300 Kronos Worldwide Inc. COM 50105F105 26 1400 SH SOLE 1400 0 0 L-3 Communications COM 502424104 41 400 SH SOLE 0 0 400 LKQ Corporation COM 501889208 73 2100 SH SOLE 2100 0 0 Lam Research Corporation COM 512807108 889 16700 SH SOLE 1900 0 14800 LandAmerica Financial Group COM 514936103 58 1500 SH SOLE 1500 0 0 Landrys Restaurants Inc. COM 51508L103 66 2500 SH SOLE 2500 0 0 Las Vegas Sands Corp. COM 517834107 53 400 SH SOLE 0 0 400 Lawson Software, Inc. COM 52078P102 43 4300 SH SOLE 4300 0 0 Lehman Brothers Hldgs COM 524908100 56 900 SH SOLE 900 0 0 Lennox International, Inc. COM 526107107 179 5300 SH SOLE 4200 0 1100 Liberty Global, Inc. Class A COM 530555101 1481 36100 SH SOLE 8900 0 27200 Liberty Media Capital Sr A COM 53071M302 1249 10007 SH SOLE 900 0 9107 Life Time Fitness Inc COM 53217R207 1307 21300 SH SOLE 0 0 21300 Lifetime Brands, Inc COM 53222Q103 43 2100 SH SOLE 2100 0 0 Lincoln National Corp COM 534187109 2975 45100 SH SOLE 10600 0 34500 Live Nation, Inc. COM 538034109 55 2600 SH SOLE 600 0 2000 Lubrizol Corporation COM 549271104 475 7300 SH SOLE 0 0 7300 M&T Bank Corp. COM 55261F104 962 9300 SH SOLE 0 0 9300 MBIA Inc COM 55262C100 1270 20800 SH SOLE 0 0 20800 MCG Capital Corp COM 58047P107 17 1200 SH SOLE 0 0 1200 MDU Resources Group COM 552690109 46 1650 SH SOLE 0 0 1650 MEMC Electronic Materials COM 552715104 65 1100 SH SOLE 700 0 400 MGE Energy Inc. COM 55277P104 43 1300 SH SOLE 1300 0 0 MGIC Investment Corp. COM 552848103 1590 49200 SH SOLE 0 0 49200 MPS Group Inc COM 553409103 47 4200 SH SOLE 4200 0 0 Magellan Health Svcs COM 559079207 57 1400 SH SOLE 1400 0 0 Manitowoc Company Inc COM 563571108 1147 25900 SH SOLE 0 0 25900 Manpower Inc. COM 56418H100 109 1700 SH SOLE 1700 0 0 Marathon Oil Corp COM 565849106 2207 38700 SH SOLE 12400 0 26300 Marriott Intl Inc. COM 571903202 17 400 SH SOLE 400 0 0 Marshall & Ilsley Corp COM 571834100 175 4000 SH SOLE 1000 0 3000 Martin Marietta Materials Inc COM 573284106 27 200 SH SOLE 0 0 200 McKesson Corp COM 58155Q103 27296 464300 SH SOLE 150400 0 313900 MedCath Corp COM 58404W109 44 1600 SH SOLE 1600 0 0 Medarex Inc. COM 583916101 34 2400 SH SOLE 2400 0 0 Medco Health Solutions Inc COM 58405U102 9301 102900 SH SOLE 43400 0 59500 Media General cl A COM 584404107 58 2100 SH SOLE 2100 0 0 Merrill Lynch & Co. COM 590188108 200 2800 SH SOLE 2800 0 0 MetLife, Inc. COM 59156R108 17188 246500 SH SOLE 76100 0 170400 Microsoft Corporation COM 594918104 4387 148900 SH SOLE 34000 0 114900 Millipore Corporation COM 601073109 872 11500 SH SOLE 0 0 11500 Morgan Stanley COM 617446448 5506 87400 SH SOLE 37600 0 49800 Mylan Inc COM 628530107 54 3400 SH SOLE 0 0 3400 NCI Building Systems, Inc. COM 628852105 39 900 SH SOLE 900 0 0 NII Holdings Inc COM 62913F201 131 1600 SH SOLE 1100 0 500 NRG Energy Inc COM 629377508 4030 95300 SH SOLE 36300 0 59000 Nabors Industries Ltd. COM G6359F103 1532 49800 SH SOLE 23700 0 26100 National City Corp COM 635405103 1854 73900 SH SOLE 0 0 73900 National Oilwell Varco Inc COM 637071101 72 500 SH SOLE 500 0 0 Navigators Group Inc COM 638904102 22 400 SH SOLE 200 0 200 NiSource Inc COM 65473P105 568 29700 SH SOLE 0 0 29700 Northeast Utilities COM 664397106 126 4400 SH SOLE 4400 0 0 Northern Trust Corp. COM 665859104 225 3400 SH SOLE 1300 0 2100 Northrop Grumman Corp COM 666807102 78 1000 SH SOLE 1000 0 0 NutriSystem, Inc. COM 67069D108 56 1200 SH SOLE 1200 0 0 O Charleys Inc. COM 670823103 50 3300 SH SOLE 3300 0 0 OGE Energy Corp. COM 670837103 364 11000 SH SOLE 0 0 11000 OM Group Inc. COM 670872100 708 13400 SH SOLE 700 0 12700 ON Semiconductor Corp. COM 682189105 27146 2161300 SH SOLE 604500 0 1556800 ONEOK Inc. COM 682680103 171 3600 SH SOLE 1900 0 1700 Occidental Petroleum Corp. COM 674599105 77 1200 SH SOLE 1200 0 0 Oceaneering International COM 675232102 788 10400 SH SOLE 0 0 10400 Office Depot Inc. COM 676220106 1035 50200 SH SOLE 0 0 50200 Oil States International, Inc. COM 678026105 150 3100 SH SOLE 2500 0 600 Old Republic Int'l Corp COM 680223104 15 800 SH SOLE 0 0 800 Omnicom Group Inc. COM 681919106 2433 50600 SH SOLE 13400 0 37200 Onyx Pharmaceuticals, Inc. COM 683399109 8130 186800 SH SOLE 64900 0 121900 Oplink Communications, Inc. COM 68375Q403 59 4300 SH SOLE 4300 0 0 Orbital Sciences Corp. COM 685564106 98 4400 SH SOLE 3100 0 1300 PG&E Corporation COM 69331C108 2132 44600 SH SOLE 4900 0 39700 PGT, Inc. COM 69336V101 31 3900 SH SOLE 3900 0 0 PMI Group Inc. COM 69344M101 896 27400 SH SOLE 0 0 27400 Packaging Corp of America COM 695156109 381 13100 SH SOLE 0 0 13100 Palm, Inc. COM 696643105 111 6800 SH SOLE 6800 0 0 Parker-Hannifin Corp. COM 701094104 1185 10600 SH SOLE 4400 0 6200 Pepco Holdings Inc COM 713291102 1730 63900 SH SOLE 2400 0 61500 Pepsi Bottling Group Inc. COM 713409100 197 5300 SH SOLE 5300 0 0 PepsiCo, Inc. COM 713448108 1392 19000 SH SOLE 18300 0 700 Perry Ellis International Inc. COM 288853104 42 1500 SH SOLE 1500 0 0 Petroleum Development Corp. COM 716578109 35 800 SH SOLE 800 0 0 Pfizer Inc. COM 717081103 1691 69200 SH SOLE 30200 0 39000 Pilgrims Pride Corp COM 721467108 31 900 SH SOLE 0 0 900 Pitney Bowes Inc. COM 724479100 3375 74300 SH SOLE 13900 0 60400 Plum Creek Timber Co. COM 729251108 31 700 SH SOLE 0 0 700 Portfolio Recovery Associates COM 73640Q105 16 300 SH SOLE 0 0 300 Potlatch Corporation COM 737630103 2724 60500 SH SOLE 30400 0 30100 Principal Financial Group COM 74251V102 915 14500 SH SOLE 0 0 14500 ProLogis COM 743410102 66 1000 SH SOLE 0 0 1000 Procter & Gamble Co. COM 742718109 1970 28000 SH SOLE 11600 0 16400 Progress Energy Inc COM 743263105 1260 26900 SH SOLE 0 0 26900 Provident Financial Services COM 74386T105 79 4800 SH SOLE 4800 0 0 Provident New York Bancorp COM 744028101 54 4100 SH SOLE 4100 0 0 Prudential Financial Inc COM 744320102 12939 132600 SH SOLE 19600 0 113000 Public Service Enterprise Grp COM 744573106 70 800 SH SOLE 800 0 0 Public Storage, Inc. COM 74460D109 283 3600 SH SOLE 1500 0 2100 Puget Energy, Inc. COM 745310102 294 12000 SH SOLE 0 0 12000 QWest Communications COM 749121109 1636 178600 SH SOLE 67800 0 110800 Questar Corporation COM 748356102 74 1400 SH SOLE 1400 0 0 R.R. Donnelley & Sons COM 257867101 812 22200 SH SOLE 1100 0 21100 RBC Bearings Incorporated COM 75524B104 38 1000 SH SOLE 1000 0 0 RC2 Corp COM 749388104 50 1800 SH SOLE 1800 0 0 RLI Corporation COM 749607107 113 2000 SH SOLE 2000 0 0 Rayonier Inc. COM 754907103 5419 112800 SH SOLE 37400 0 75400 Raytheon Company COM 755111507 3006 47100 SH SOLE 1500 0 45600 Regal Entertainment Group COM 758766109 215 9800 SH SOLE 8300 0 1500 Regal-Beloit Corp. COM 758750103 19 400 SH SOLE 0 0 400 Reliance Steel & Aluminum COM 759509102 5015 88700 SH SOLE 23000 0 65700 Rent-A-Center Inc COM 76009N100 45 2500 SH SOLE 0 0 2500 Republic Airways Hldgs Inc COM 760276105 64 3000 SH SOLE 3000 0 0 Republic Services Inc. COM 760759100 461 14100 SH SOLE 0 0 14100 Reynolds American Inc COM 761713106 1615 25400 SH SOLE 2800 0 22600 Roper Industries Inc COM 776696106 943 14400 SH SOLE 6600 0 7800 Rowan Companies Inc. COM 779382100 765 20900 SH SOLE 0 0 20900 Ryder System Inc. 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