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<SEC-DOCUMENT>0001140804-09-000130.txt : 20091116
<SEC-HEADER>0001140804-09-000130.hdr.sgml : 20091116
<ACCEPTANCE-DATETIME>20091113173650
ACCESSION NUMBER:		0001140804-09-000130
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090930
FILED AS OF DATE:		20091116
DATE AS OF CHANGE:		20091113
EFFECTIVENESS DATE:		20091116

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONNOR CLARK & LUNN INVESTMENT MANAGEMENT LTD
		CENTRAL INDEX KEY:			0001140804
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-04033
		FILM NUMBER:		091182884

	BUSINESS ADDRESS:	
		STREET 1:		2200 - 1111 WEST GEORGIA STREET
		CITY:			VANCOUVER BC
		STATE:			A1
		ZIP:			V6E 4M3
		BUSINESS PHONE:		6046852020

	MAIL ADDRESS:	
		STREET 1:		2200 - 1111 WEST GEORGIA STREET
		CITY:			VANCOUVER BC
		STATE:			A1
		ZIP:			V6E 4M3
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>r13f-0930.txt
<DESCRIPTION>FORM 13F SEPTEMBER 30, 2009
<TEXT>
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, 2009


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:				Connor, Clark & Lunn Investment Management Partnership
				2200-1111 West Georgia Street
				Vancouver, British Columbia V6E 4M3

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:			Gord MacDougall
Title:		Partner
Phone:		(604) 643-3155

Signature, place, and Date of Signing:

	"Gord MacDougall"	Vancouver, B.C. Canada	September 30, 2009
	[Signature]		[City, State]			[Date]

Report Type	(Check only one):

[X]	13F HOLDINGS REPORT.  (Check here if all holdings of this
reporting manager are reported in this report.
[ ]	13F NOTICE.  (Check here if no holdings reported are in this
report, and all holdings are reported by other reporting manager(s).)
[ ]	13F COMBINATION REPORT.  (Check here if a portion of the holdings
for this reporting manager are reported in this report and a portion
are reported by other reporting manager(s).)

List of Other Managers Reporting for this Manager:	NONE


Form 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:				None

Form 13F Information Table Entry Total:		231,183,527

Form 13F Information Table Value Total:		$6,809,364,467


List of Other Included Managers:

	NONE



FORM 13F

















                     (SEC USE ONLY)

Name of Reporting Manager:Connor, Clark & Lunn Investment Management Partnership
















Item 1
Item 2
Item 3
Item 4
Item 5
Item 6


Item 7
Item 8


Name of Issuer



Shares of
Investment Discretion

Mgrs
Voting Authority (Shares)

Title of
Cusip
Fair Market
Principal
A) Sole
B) Shared -
C) Shared
See
A) Sole
B) Shared
C) None

Class
Number
Value $
Amount

As
Defined
Other
Instr. V









in Instr.V





Advantage Oil & Gas Ltd.
COM
00765F101
6,736,298
955,095
955,095
N/A
N/A

N/A
955,095
N/A
Barrick Gold Corp.
COM
067901108
384,299,295
10,174,357
10,174,357
N/A
N/A

N/A
10,174,357
N/A
Agnico-Eagle Mines
COM
008474108
30,087,627
445,975
445,975
N/A
N/A

N/A
445,975
N/A
Agrium Inc.
COM
008916108
55,344,258
1,109,884
1,109,884
N/A
N/A

N/A
1,109,884
N/A
Aurizon Mines Ltd.
COM
05155P106
10,782,018
2,462,200
2,462,200
N/A
N/A

N/A
2,462,200
N/A
Brookfield Asset Management Inc.
CL A LTD VT SH
112585104
28,706,875
1,264,304
1,264,304
N/A
N/A

N/A
1,264,304
N/A
Cott Corp.
COM
22163N106
31,444,733
4,304,800
4,304,800
N/A
N/A

N/A
4,304,800
N/A
BCE Inc.
COM NEW
05534B760
148,574,569
6,042,633
6,042,633
N/A
N/A

N/A
6,042,633
N/A
IESI-BFC
COM
44951D108
3,107,928
240,327
240,327
N/A
N/A

N/A
240,327
N/A
Bank of Montreal
COM
063671101
149,161,206
2,955,413
2,955,413
N/A
N/A

N/A
2,955,413
N/A
Bank of Nova Scotia
COM
064149107
283,445,317
6,225,125
6,225,125
N/A
N/A

N/A
6,225,125
N/A
Brookfield Properties Corp.
COM
112900105
17,040,146
1,506,523
1,506,523
N/A
N/A

N/A
1,506,523
N/A
Baytex Energy Trust
TRUST UNIT
073176109
7,432,230
338,009
338,009
N/A
N/A

N/A
338,009
N/A
Biovail Corp.
COM
09067J109
22,921,981
1,489,235
1,489,235
N/A
N/A

N/A
1,489,235
N/A
CAE Inc.
COM
124765108
11,517,944
1,365,990
1,365,990
N/A
N/A

N/A
1,365,990
N/A
Cameco Corp.
COM
13321L108
95,555,725
3,452,035
3,452,035
N/A
N/A

N/A
3,452,035
N/A
Corus Entertainment Inc.
CL B NON VTG
220874101
41,059,844
2,418,745
2,418,745
N/A
N/A

N/A
2,418,745
N/A
Celestica Inc.
SUB VTG SHS
15101Q108
37,886,657
3,986,642
3,986,642
N/A
N/A

N/A
3,986,642
N/A
Canadian Imperial Bank of Commerce
COM
136069101
128,815,412
2,117,592
2,117,592
N/A
N/A

N/A
2,117,592
N/A
Canadian Natural Resources Ltd.
COM
136385101
312,785,442
4,643,328
4,643,328
N/A
N/A

N/A
4,643,328
N/A
Canadian National Railway
COM
136375102
115,983,499
2,360,802
2,360,802
N/A
N/A

N/A
2,360,802
N/A
Canadian Pacific Railway Ltd.
COM
13645T100
6,009,339
128,739
128,739
N/A
N/A

N/A
128,739
N/A
EnCana Corp.
COM
292505104
451,505,570
7,816,144
7,816,144
N/A
N/A

N/A
7,816,144
N/A
Eldorado Gold Corp.
COM
284902103
7,631,581
673,600
673,600
N/A
N/A

N/A
673,600
N/A
Enbridge Inc.
COM
29250N105
74,570,375
1,925,340
1,925,340
N/A
N/A

N/A
1,925,340
N/A
Enerplus Resources Fund
UNIT TR G NEW
29274D604
12,715,393
557,038
557,038
N/A
N/A

N/A
557,038
N/A
Exfo Electro-Optical Engineering Inc.
SUB VTG SHS
302043104
288,706
82,193
82,193
N/A
N/A

N/A
82,193
N/A
Fairfax Financial Holdings Ltd.
SUB VTG
303901102
32,472,822
87,630
87,630
N/A
N/A

N/A
87,630
N/A
Goldcorp Inc.
COM
380956409
198,116,216
4,947,374
4,947,374
N/A
N/A

N/A
4,947,374
N/A
Gammon Gold Inc.
COM
36467T106
22,750,392
2,665,720
2,665,720
N/A
N/A

N/A
2,665,720
N/A
CGI Group Class A
CL A SUB VTG
39945C109
68,295,962
5,845,459
5,845,459
N/A
N/A

N/A
5,845,459
N/A
Gildan Activewear Class A
COM
375916103
12,470,383
632,536
632,536
N/A
N/A

N/A
632,536
N/A
Gerdau Ameristeel Corp.
COM
37373P105
7,543,160
948,018
948,018
N/A
N/A

N/A
948,018
N/A
Golden Star Resources
COM
38119T104
1,772,826
521,308
521,308
N/A
N/A

N/A
521,308
N/A
Gran Tierra Energy Inc.
COM
38500T101
3,880,484
927,600
927,600
N/A
N/A

N/A
927,600
N/A
Harvest Energy Trust T/U
TRUST UNIT
41752X101
4,377,599
674,100
674,100
N/A
N/A

N/A
674,100
N/A
Harry Winston Diamond Corp.
COM
41587B100
3,966,384
470,400
470,400
N/A
N/A

N/A
470,400
N/A
Iamgold Corp.
COM
450913108
39,075,618
2,771,967
2,771,967
N/A
N/A

N/A
2,771,967
N/A
Imperial Oil Limited
COM NEW
453038408
8,659,252
228,073
228,073
N/A
N/A

N/A
228,073
N/A
Kinross Gold Corp.
COM NO PAR
496902404
38,260,852
1,760,196
1,760,196
N/A
N/A

N/A
1,760,196
N/A
MDS Inc.
COM
55269P302
749,376
91,711
91,711
N/A
N/A

N/A
91,711
N/A
Manulife Financial Corp.
COM
56501R106
267,488,613
12,759,801
12,759,801
N/A
N/A

N/A
12,759,801
N/A
Minefinders Corp.
COM
602900102
1,497,265
153,049
153,049
N/A
N/A

N/A
153,049
N/A
Magna International Inc. Class A
CL A
559222401
63,549,883
1,494,808
1,494,808
N/A
N/A

N/A
1,494,808
N/A
MI Developments Inc. Class A
CL A SUB VTG
55304X104
4,076,562
304,268
304,268
N/A
N/A

N/A
304,268
N/A
Methanex Corp.
COM
59151K108
11,268,975
648,525
648,525
N/A
N/A

N/A
648,525
N/A
New Gold Inc.
COM
644535106
13,120,391
3,443,060
3,443,060
N/A
N/A

N/A
3,443,060
N/A
Northgate Minerals Corp.
COM
666416102
19,721,292
7,324,174
7,324,174
N/A
N/A

N/A
7,324,174
N/A
Nexen Inc.
COM
65334H102
181,633,684
8,009,344
8,009,344
N/A
N/A

N/A
8,009,344
N/A
Oncolytics Biotech Inc
COM
682310107
143,768
49,299
49,299
N/A
N/A

N/A
49,299
N/A
Open Text Corp.
COM
683715106
16,383,588
438,407
438,407
N/A
N/A

N/A
438,407
N/A
Pan American Silver Corp.
COM
697900108
8,199,799
358,049
358,049
N/A
N/A

N/A
358,049
N/A
Precision Drilling Trust
TR UNIT
740215108
20,618,105
3,090,700
3,090,700
N/A
N/A

N/A
3,090,700
N/A
North American Palladium Ltd.
COM
656912102
310,133
111,700
111,700
N/A
N/A

N/A
111,700
N/A
Pengrowth Energy Trust
TR UNIT NEW
706902509
10,687,833
1,012,467
1,012,467
N/A
N/A

N/A
1,012,467
N/A
Potash Corp. of Saskatchewan
COM
73755L107
173,112,125
1,913,110
1,913,110
N/A
N/A

N/A
1,913,110
N/A
Provident Energy Trust
TR UNIT
74386K104
6,247,131
1,081,459
1,081,459
N/A
N/A

N/A
1,081,459
N/A
Penn West Energy Trust
TR UNIT
707885109
6,107,164
386,032
386,032
N/A
N/A

N/A
386,032
N/A
QLT Inc.
COM
746927102
3,482,610
946,300
946,300
N/A
N/A

N/A
946,300
N/A
Rogers Comm Inc. Class B
CL B
775109200
67,296,267
2,389,318
2,389,318
N/A
N/A

N/A
2,389,318
N/A
Research In Motion
COM
760975102
253,588,148
3,760,378
3,760,378
N/A
N/A

N/A
3,760,378
N/A
Royal Bank of Canada
COM
780087102
546,509,771
10,192,336
10,192,336
N/A
N/A

N/A
10,192,336
N/A
Sun Life Financial Inc.
COM
866796105
121,322,714
3,881,242
3,881,242
N/A
N/A

N/A
3,881,242
N/A
Silver Wheaton Corp
COM
828336107
28,050,505
2,215,350
2,215,350
N/A
N/A

N/A
2,215,350
N/A
Suncor Energy Inc.
COM
867224107
435,802,725
12,506,606
12,506,606
N/A
N/A

N/A
12,506,606
N/A
Silvercorp Metals Inc.
COM
82835P103
3,913,738
823,650
823,650
N/A
N/A

N/A
823,650
N/A
SXC Health Solutions
COM
78505P100
8,754,173
187,542
187,542
N/A
N/A

N/A
187,542
N/A
Telus Corp. Non-voting
NON-VTG SHS
87971M202
12,707,518
409,456
409,456
N/A
N/A

N/A
409,456
N/A
Transalta Corp.
COM
89346D107
35,417,326
1,740,541
1,740,541
N/A
N/A

N/A
1,740,541
N/A
Teck Cominco Ltd.
CL B
878742204
74,616,530
2,714,777
2,714,777
N/A
N/A

N/A
2,714,777
N/A
Thompson Creek Metals Company Inc.
COM
884768102
24,380,935
2,023,825
2,023,825
N/A
N/A

N/A
2,023,825
N/A
Toronto-Dominion Bank
COM NEW
891160509
474,530,964
7,354,716
7,354,716
N/A
N/A

N/A
7,354,716
N/A
Transglobe Energy Corp
COM
893662106
120,516
33,950
33,950
N/A
N/A

N/A
33,950
N/A
Tim Hortons Inc.
COM
88706M103
14,530,257
512,330
512,330
N/A
N/A

N/A
512,330
N/A
Talisman Energy Inc.
COM
87425E103
74,374,143
4,284,797
4,284,797
N/A
N/A

N/A
4,284,797
N/A
Thomson Reuters Corporation
COM
884903105
108,334,446
3,238,868
3,238,868
N/A
N/A

N/A
3,238,868
N/A
TransCanada Pipelines Corp.
COM
89353D107
111,402,728
3,583,115
3,583,115
N/A
N/A

N/A
3,583,115
N/A
Yamana Gold Inc.
COM
98462Y100
33,262,017
3,098,969
3,098,969
N/A
N/A

N/A
3,098,969
N/A
Alcoa Inc.
COM
013817101
376,216
28,675
28,675
N/A
N/A

N/A
28,675
N/A
Aaron's Inc
COM
002535201
3,004,320
113,800
113,800
N/A
N/A

N/A
113,800
N/A
Apple Computer Inc.
COM
037833100
1,263,297
6,815
6,815
N/A
N/A

N/A
6,815
N/A
Abbott Labs
COM
002824100
764,806
15,460
15,460
N/A
N/A

N/A
15,460
N/A
American Capital Ltd
COM
02503Y103
188,693
58,419
58,419
N/A
N/A

N/A
58,419
N/A
Acxiom Corp
COM
005125109
3,075,172
325,071
325,071
N/A
N/A

N/A
325,071
N/A
Adc Telecommunications Inc.
COM NEW
000886309
916,566
109,900
109,900
N/A
N/A

N/A
109,900
N/A
Archer Daniels Midland Co.
COM
039483102
3,828,697
131,030
131,030
N/A
N/A

N/A
131,030
N/A
Advance Amer Cash Advance Ct
COM
00739W107
104,160
18,600
18,600
N/A
N/A

N/A
18,600
N/A
Ameren Corp.
COM
023608102
3,376,144
133,550
133,550
N/A
N/A

N/A
133,550
N/A
American Electric Power Inc.
COM
025537101
1,970,654
63,590
63,590
N/A
N/A

N/A
63,590
N/A
American Finl Group Inc
COM
025932104
2,950,350
115,700
115,700
N/A
N/A

N/A
115,700
N/A
Assurant Inc
COM
04621X108
1,038,744
32,400
32,400
N/A
N/A

N/A
32,400
N/A
Amgen Inc.
COM
031162100
8,780,028
145,775
145,775
N/A
N/A

N/A
145,775
N/A
Amkor Technology Inc
COM
031652100
1,778,824
258,550
258,550
N/A
N/A

N/A
258,550
N/A
Anntaylor Stores Corp
COM
036115103
403,606
25,400
25,400
N/A
N/A

N/A
25,400
N/A
Apache Corp.
COM
037411105
2,863,259
31,180
31,180
N/A
N/A

N/A
31,180
N/A
Anadarko Petroleum Corp.
COM
032511107
1,615,298
25,750
25,750
N/A
N/A

N/A
25,750
N/A
American Reprographics Co
COM
029263100
252,280
26,500
26,500
N/A
N/A

N/A
26,500
N/A
Arris Group Inc
COM
04269Q100
202,956
15,600
15,600
N/A
N/A

N/A
15,600
N/A
ATC Technologies
COM
00211W104
1,555,112
78,700
78,700
N/A
N/A

N/A
78,700
N/A
Alliant Techsystems Inc
COM
018804104
1,969,605
25,300
25,300
N/A
N/A

N/A
25,300
N/A
Air Transport Services
COM
00922R105
40,482
11,700
11,700
N/A
N/A

N/A
11,700
N/A
Allied World Assurance Company
SHS
G0219G203
2,243,124
46,800
46,800
N/A
N/A

N/A
46,800
N/A
American Express Co.
COM
025816109
1,065,308
31,425
31,425
N/A
N/A

N/A
31,425
N/A
Aircastle
COM
G0129K104
117,007
12,100
12,100
N/A
N/A

N/A
12,100
N/A
AutoZone Inc.
COM
053332102
621,435
4,250
4,250
N/A
N/A

N/A
4,250
N/A
Boeing Company
COM
097023105
249,090
4,600
4,600
N/A
N/A

N/A
4,600
N/A
Bank of America Corp.
COM
060505104
4,407,389
260,484
260,484
N/A
N/A

N/A
260,484
N/A
Einstein Noah Restaurant
COM
28257U104
138,460
11,500
11,500
N/A
N/A

N/A
11,500
N/A
Black Box Corp
COM
091826107
408,967
16,300
16,300
N/A
N/A

N/A
16,300
N/A
BB&T Corp.
COM
054937107
461,718
16,950
16,950
N/A
N/A

N/A
16,950
N/A
General Cable Corp/de
COM
369300108
536,355
13,700
13,700
N/A
N/A

N/A
13,700
N/A
Benchmark Electronics Inc
COM
08160H101
810,000
45,000
45,000
N/A
N/A

N/A
45,000
N/A
Baker Hughes Inc.
COM
057224107
242,096
5,675
5,675
N/A
N/A

N/A
5,675
N/A
BHP Billiton Ltd. Spons ADR
SPONSORED
ADR
088606108
37,955,750
575,000
575,000
N/A
N/A

N/A
575,000
N/A
Biogen Idec Inc.
COM
09062X103
5,765,595
114,125
114,125
N/A
N/A

N/A
114,125
N/A
Bank of New York Mellon Corp.
COM
064058100
1,482,375
51,134
51,134
N/A
N/A

N/A
51,134
N/A
Barnes & Noble Inc
COM
067774109
4,581,764
206,200
206,200
N/A
N/A

N/A
206,200
N/A
Bristol-Myers Squibb
COM
110122108
3,487,672
154,870
154,870
N/A
N/A

N/A
154,870
N/A
BP Amoco Plc.
SPONSORED
ADR
055622104
202,593
3,806
3,806
N/A
N/A

N/A
3,806
N/A
Brocade Communications Systems
COM NEW
111621306
113,381
14,425
14,425
N/A
N/A

N/A
14,425
N/A
Boston Scientific Corp.
COM
101137107
2,125,943
200,750
200,750
N/A
N/A

N/A
200,750
N/A
Blyth Inc
COM NEW
09643P207
372,776
9,625
9,625
N/A
N/A

N/A
9,625
N/A
Boyd Gaming Corp
COM
103304101
162,857
14,900
14,900
N/A
N/A

N/A
14,900
N/A
Citigroup Inc.
COM
172967101
598,108
123,576
123,576
N/A
N/A

N/A
123,576
N/A
Cardinal Health Inc.
COM
14149Y108
263,980
9,850
9,850
N/A
N/A

N/A
9,850
N/A
Cal-Maine Foods Inc
COM NEW
128030202
204,898
7,654
7,654
N/A
N/A

N/A
7,654
N/A
Caterpillar Inc.
COM
149123101
627,509
12,225
12,225
N/A
N/A

N/A
12,225
N/A
Chubb Corp.
COM
171232101
598,871
11,880
11,880
N/A
N/A

N/A
11,880
N/A
Cambrex Corp
COM
132011107
1,015,138
161,133
161,133
N/A
N/A

N/A
161,133
N/A
Ciber Inc
COM
17163B102
59,200
14,800
14,800
N/A
N/A

N/A
14,800
N/A
CBS Corp - Class B
CL B
124857202
550,986
45,725
45,725
N/A
N/A

N/A
45,725
N/A
Coca Cola Enterprises Inc.
COM
191219104
4,193,791
195,880
195,880
N/A
N/A

N/A
195,880
N/A
Carnival Corp.
PAIRED CTF
143658300
279,552
8,400
8,400
N/A
N/A

N/A
8,400
N/A
Career Education Corp
COM
141665109
1,935,772
79,400
79,400
N/A
N/A

N/A
79,400
N/A
Central Garden & Pet Class A
CL A NON-VTG
153527205
1,242,741
113,700
113,700
N/A
N/A

N/A
113,700
N/A
Cephalon Inc.
COM
156708109
5,605,600
96,250
96,250
N/A
N/A

N/A
96,250
N/A
Cerner Corp
COM
156782104
213,180
2,850
2,850
N/A
N/A

N/A
2,850
N/A
Consolidated Graphics Inc
COM
209341106
356,785
14,300
14,300
N/A
N/A

N/A
14,300
N/A
City Holding Company
COM
177835105
1,147,685
38,500
38,500
N/A
N/A

N/A
38,500
N/A
O'charley's Inc
COM
670823103
164,912
17,600
17,600
N/A
N/A

N/A
17,600
N/A
Columbus Mckinnon Corp
COM
199333105
242,400
16,000
16,000
N/A
N/A

N/A
16,000
N/A
Comcast Corp. Class A
CL A
20030N101
2,901,533
171,790
171,790
N/A
N/A

N/A
171,790
N/A
CMS Energy Corp.
COM
125896100
1,573,160
117,400
117,400
N/A
N/A

N/A
117,400
N/A
Conseco Inc.
COM NEW
208464883
1,207,696
229,600
229,600
N/A
N/A

N/A
229,600
N/A
Centerpoint Energy Inc.
COM
15189T107
2,470,152
198,725
198,725
N/A
N/A

N/A
198,725
N/A
Capital One Financial Corp.
COM
14040H105
620,809
17,375
17,375
N/A
N/A

N/A
17,375
N/A
Cooper Companies Inc
COM NEW
216648402
1,281,363
43,100
43,100
N/A
N/A

N/A
43,100
N/A
ConocoPhillips
COM
20825C104
10,742,661
237,880
237,880
N/A
N/A

N/A
237,880
N/A
Core Mark Holding Co Inc
COM
218681104
357,500
12,500
12,500
N/A
N/A

N/A
12,500
N/A
Compuware Corp.
COM
205638109
522,629
71,300
71,300
N/A
N/A

N/A
71,300
N/A
Chiquita Brands Intl
COM
170032809
1,797,800
111,250
111,250
N/A
N/A

N/A
111,250
N/A
Ceradyne Inc
COM
156710105
1,195,116
65,200
65,200
N/A
N/A

N/A
65,200
N/A
Charles River Labs Intl Inc
COM
159864107
528,814
14,300
14,300
N/A
N/A

N/A
14,300
N/A
Computer Sciences Corp.
COM
205363104
9,311,222
176,650
176,650
N/A
N/A

N/A
176,650
N/A
Cisco Systems
COM
17275R102
4,792,038
203,570
203,570
N/A
N/A

N/A
203,570
N/A
Csg Systems Intl Inc
COM
126349109
981,413
61,300
61,300
N/A
N/A

N/A
61,300
N/A
Century Tel Enterprises Inc.
COM
156700106
6,057,878
180,294
180,294
N/A
N/A

N/A
180,294
N/A
Commscope Inc
COM
203372107
766,208
25,600
25,600
N/A
N/A

N/A
25,600
N/A
Cousins Properties Inc
COM
222795106
158,049
19,088
19,088
N/A
N/A

N/A
19,088
N/A
Convergys Corp.
COM
212485106
3,158,932
317,800
317,800
N/A
N/A

N/A
317,800
N/A
CVS Corp.
COM
126650100
2,762,916
77,306
77,306
N/A
N/A

N/A
77,306
N/A
ChevronTexaco Corp.
COM
166764100
6,217,631
88,281
88,281
N/A
N/A

N/A
88,281
N/A
Dyncorp Intl Inc
CL A
26817C101
288,900
16,050
16,050
N/A
N/A

N/A
16,050
N/A
Du Pont (EI) De Nemours
COM
263534109
214,535
6,675
6,675
N/A
N/A

N/A
6,675
N/A
Dell Inc.
COM
24702R101
1,927,796
126,330
126,330
N/A
N/A

N/A
126,330
N/A
Dean Foods Co
COM
242370104
1,001,577
56,300
56,300
N/A
N/A

N/A
56,300
N/A
D R Horton Inc
COM
23331A109
171,435
15,025
15,025
N/A
N/A

N/A
15,025
N/A
Walt Disney Co.
COM DISNEY
254687106
1,299,682
47,330
47,330
N/A
N/A

N/A
47,330
N/A
Dish Network Corp
CL A
25470M109
2,915,964
151,400
151,400
N/A
N/A

N/A
151,400
N/A
Dollar Financial Corp
COM
256664103
261,126
16,300
16,300
N/A
N/A

N/A
16,300
N/A
Del Monte Foods Co.
COM
24522P103
1,886,382
162,900
162,900
N/A
N/A

N/A
162,900
N/A
Dr. Pepper Snapple Group
COM
26138E109
398,188
13,850
13,850
N/A
N/A

N/A
13,850
N/A
Dominos Pizza Inc
COM
25754A201
205,972
23,300
23,300
N/A
N/A

N/A
23,300
N/A
DTE Energy Co.
COM
233331107
3,679,158
104,700
104,700
N/A
N/A

N/A
104,700
N/A
Brinker Intl Inc
COM
109641100
223,366
14,200
14,200
N/A
N/A

N/A
14,200
N/A
eBay Inc.
COM
278642103
3,025,622
128,150
128,150
N/A
N/A

N/A
128,150
N/A
Emergent Biosolutions Inc
COM
29089Q105
406,180
23,000
23,000
N/A
N/A

N/A
23,000
N/A
Eaton Vance Senior Floating Rate Fund
COM
27828Q105
1,786,050
135,000
135,000
N/A
N/A

N/A
135,000
N/A
Edison International
COM
281020107
1,131,646
33,700
33,700
N/A
N/A

N/A
33,700
N/A
Earthlink Inc
COM
270321102
7,158,592
851,200
851,200
N/A
N/A

N/A
851,200
N/A
EMC Corp.
COM
268648102
280,734
16,475
16,475
N/A
N/A

N/A
16,475
N/A
Endo Pharmaceuticals Hldgs
COM
29264F205
719,634
31,800
31,800
N/A
N/A

N/A
31,800
N/A
Ford Motor Co.
COM PAR $0.01
345370860
560,397
77,725
77,725
N/A
N/A

N/A
77,725
N/A
Fairchild Semiconductor Inc
COM
303726103
1,743,192
170,400
170,400
N/A
N/A

N/A
170,400
N/A
Freeport-Mcmoran Copper & Gold
COM
35671D857
356,772
5,200
5,200
N/A
N/A

N/A
5,200
N/A
Fresh Del Monte Produce
ORD
G36738105
2,580,932
114,150
114,150
N/A
N/A

N/A
114,150
N/A
Fedex Corp.
COM
31428X106
1,075,646
14,300
14,300
N/A
N/A

N/A
14,300
N/A
FirstEnergy Corp.
COM
337932107
3,287,268
71,900
71,900
N/A
N/A

N/A
71,900
N/A
Fair Isaac & Co Inc
COM
303250104
1,076,649
50,100
50,100
N/A
N/A

N/A
50,100
N/A
Fidelity National Info Svcs
COM
31620M106
2,394,114
93,850
93,850
N/A
N/A

N/A
93,850
N/A
Comfort Systems Usa Inc
COM
199908104
512,174
44,191
44,191
N/A
N/A

N/A
44,191
N/A
Foot Locker Inc
COM
344849104
825,745
69,100
69,100
N/A
N/A

N/A
69,100
N/A
Flextronics International
ORD
Y2573F102
3,002,650
402,500
402,500
N/A
N/A

N/A
402,500
N/A
BlackRock Fltng Rate Incm Strat Fund
Inc
COM
09255X100
1,415,700
110,000
110,000
N/A
N/A

N/A
110,000
N/A
Forest Laboratories
COM
345838106
4,474,880
152,000
152,000
N/A
N/A

N/A
152,000
N/A
Gannett Inc.
COM
364730101
2,311,223
184,750
184,750
N/A
N/A

N/A
184,750
N/A
General Electric
COM
369604103
6,043,759
368,073
368,073
N/A
N/A

N/A
368,073
N/A
Genzyme General
COM
372917104
1,517,528
26,750
26,750
N/A
N/A

N/A
26,750
N/A
Gilead Sciences Inc.
COM
375558103
1,356,177
29,115
29,115
N/A
N/A

N/A
29,115
N/A
SPDR Gold Trust
SHS
78463V107
358,331
3,625
3,625
N/A
N/A

N/A
3,625
N/A
Google Inc.
CL A
38259P508
2,246,201
4,530
4,530
N/A
N/A

N/A
4,530
N/A
Gap
COM
364760108
315,650
14,750
14,750
N/A
N/A

N/A
14,750
N/A
Goldman Sachs Group Inc.
COM
38141G104
3,375,449
18,310
18,310
N/A
N/A

N/A
18,310
N/A
Chart Industries Inc
COM PAR $0.01
16115Q308
457,708
21,200
21,200
N/A
N/A

N/A
21,200
N/A
Hawaiian Hldgs Inc
COM
419879101
987,987
119,611
119,611
N/A
N/A

N/A
119,611
N/A
Halliburton Co.
COM
406216101
216,282
7,975
7,975
N/A
N/A

N/A
7,975
N/A
Hcc Insurance Holdings Inc
COM
404132102
711,100
26,000
26,000
N/A
N/A

N/A
26,000
N/A
Hackett Group Inc
COM
404609109
35,380
12,200
12,200
N/A
N/A

N/A
12,200
N/A
Home Depot
COM
437076102
2,340,537
87,858
87,858
N/A
N/A

N/A
87,858
N/A
Health Net Inc - Cl A
COM
42222G108
4,904,900
318,500
318,500
N/A
N/A

N/A
318,500
N/A
Heinz (H.J.) Co.
COM
423074103
220,613
5,550
5,550
N/A
N/A

N/A
5,550
N/A
Harley-Davidson
COM
412822108
312,800
13,600
13,600
N/A
N/A

N/A
13,600
N/A
Honeywell International
COM
438516106
1,259,385
33,900
33,900
N/A
N/A

N/A
33,900
N/A
Hewlett-Packard
COM
428236103
4,786,858
101,395
101,395
N/A
N/A

N/A
101,395
N/A
Hospitality Properties Trust
COM SH BEN
INT
44106M102
1,061,277
52,100
52,100
N/A
N/A

N/A
52,100
N/A
Hill-rom Holdings Inc
COM
431475102
3,420,549
157,050
157,050
N/A
N/A

N/A
157,050
N/A
Harris Corp
COM
413875105
3,528,760
93,850
93,850
N/A
N/A

N/A
93,850
N/A
Healthspring Inc
COM
42224N101
1,494,500
122,000
122,000
N/A
N/A

N/A
122,000
N/A
Harris Stratex Networks
CL A
41457P106
385,700
55,100
55,100
N/A
N/A

N/A
55,100
N/A
Hubbell Inc Class B
CL B
443510201
642,600
15,300
15,300
N/A
N/A

N/A
15,300
N/A
Humana Inc.
COM
444859102
1,635,605
43,850
43,850
N/A
N/A

N/A
43,850
N/A
Healthways Inc
COM
422245100
507,092
33,100
33,100
N/A
N/A

N/A
33,100
N/A
iShares iBoxx $ High Yld Crpt Bnd FD
HIGH YLD CORP
464288513
7,564,260
87,600
87,600
N/A
N/A

N/A
87,600
N/A
International Business Machines
COM
459200101
6,512,406
54,447
54,447
N/A
N/A

N/A
54,447
N/A
Integrated Device Tech Inc
COM
458118106
952,619
140,920
140,920
N/A
N/A

N/A
140,920
N/A
Imation Corp
COM
45245A107
103,824
11,200
11,200
N/A
N/A

N/A
11,200
N/A
Intel Corp.
COM
458140100
5,181,040
264,744
264,744
N/A
N/A

N/A
264,744
N/A
Innospec Inc
COM
45768S105
351,050
23,800
23,800
N/A
N/A

N/A
23,800
N/A
International Paper Co.
COM
460146103
419,036
18,850
18,850
N/A
N/A

N/A
18,850
N/A
Innophos Holdings Inc
COM
45774N108
998,075
53,950
53,950
N/A
N/A

N/A
53,950
N/A
Intl Shiphold Cp
COM NEW
460321201
234,156
7,600
7,600
N/A
N/A

N/A
7,600
N/A
Intersil Corp Class A
CL A
46069S109
955,344
62,400
62,400
N/A
N/A

N/A
62,400
N/A
Investment Technology Gp Inc
COM
46145F105
4,319,280
154,702
154,702
N/A
N/A

N/A
154,702
N/A
Invacare Corp
COM
461203101
1,467,071
65,847
65,847
N/A
N/A

N/A
65,847
N/A
Jabil Circuit
COM
466313103
246,744
18,400
18,400
N/A
N/A

N/A
18,400
N/A
J C Penney Co.
COM
708160106
1,081,688
32,050
32,050
N/A
N/A

N/A
32,050
N/A
JDA Software Group Inc
COM
46612K108
3,900,932
177,800
177,800
N/A
N/A

N/A
177,800
N/A
Johnson & Johnson
COM
478160104
5,284,156
86,782
86,782
N/A
N/A

N/A
86,782
N/A
SPDR Barclays Capital High Yield B
BRCLYS YLD
ETF
78464A417
7,415,099
192,650
192,650
N/A
N/A

N/A
192,650
N/A
Jones New York
COM
480074103
729,751
40,700
40,700
N/A
N/A

N/A
40,700
N/A
JP Morgan Chase & Company
COM
46625H100
4,917,437
112,219
112,219
N/A
N/A

N/A
112,219
N/A
Journal Communications Inc
CL A
481130102
179,584
48,800
48,800
N/A
N/A

N/A
48,800
N/A
Jackson Hewitt Tax Svc Inc
COM
468202106
265,200
52,000
52,000
N/A
N/A

N/A
52,000
N/A
Kellogg Company
COM
487836108
230,150
4,675
4,675
N/A
N/A

N/A
4,675
N/A
Kinetic Concepts Inc.
COM NEW
49460W208
3,664,718
99,100
99,100
N/A
N/A

N/A
99,100
N/A
King Pharamceuticals
COM
495582108
1,775,973
164,900
164,900
N/A
N/A

N/A
164,900
N/A
Kimberly Clark Corp.
COM
494368103
937,192
15,890
15,890
N/A
N/A

N/A
15,890
N/A
Kindred Healthcare Inc
COM
494580103
1,152,330
71,000
71,000
N/A
N/A

N/A
71,000
N/A
Knoll Inc
COM NEW
498904200
983,132
94,260
94,260
N/A
N/A

N/A
94,260
N/A
Coca Cola Co.
COM
191216100
438,998
8,175
8,175
N/A
N/A

N/A
8,175
N/A
Lennar Corp.
CL A
526057104
641,250
45,000
45,000
N/A
N/A

N/A
45,000
N/A
Liz Claiborne Inc.
COM
539320101
208,046
42,200
42,200
N/A
N/A

N/A
42,200
N/A
Eli Lilly & Co.
COM
532457108
3,935,194
119,140
119,140
N/A
N/A

N/A
119,140
N/A
Lockheed Martin Inc.
COM
539830109
253,760
3,250
3,250
N/A
N/A

N/A
3,250
N/A
Lincare Holdings Inc
COM
532791100
4,300,000
137,600
137,600
N/A
N/A

N/A
137,600
N/A
Lsi Logic Corp.
COM
502161102
832,833
151,700
151,700
N/A
N/A

N/A
151,700
N/A
Lexmark International Inc.
CL A
529771107
6,777,561
314,650
314,650
N/A
N/A

N/A
314,650
N/A
Macy's Inc.
COM
55616P104
3,220,503
176,080
176,080
N/A
N/A

N/A
176,080
N/A
Martek Biosciences Corp
COM
572901106
2,473,605
109,500
109,500
N/A
N/A

N/A
109,500
N/A
McDonald's Corp.
COM
580135101
854,338
14,970
14,970
N/A
N/A

N/A
14,970
N/A
McKesson HBOC Inc.
COM
58155Q103
643,140
10,800
10,800
N/A
N/A

N/A
10,800
N/A
Moodys Corp.
COM
615369105
282,348
13,800
13,800
N/A
N/A

N/A
13,800
N/A
Meredith Corp.
COM
589433101
636,614
21,263
21,263
N/A
N/A

N/A
21,263
N/A
Medtronic Inc.
COM
585055106
1,624,720
44,150
44,150
N/A
N/A

N/A
44,150
N/A
MidCap SPDRs (MDY)
UNIT SER 1
595635103
472,894
3,775
3,775
N/A
N/A

N/A
3,775
N/A
Methode Electronics  -cl A
COM
591520200
662,388
76,400
76,400
N/A
N/A

N/A
76,400
N/A
MetLife Inc.
COM
59156R108
235,273
6,180
6,180
N/A
N/A

N/A
6,180
N/A
Mgm Mirage
COM
552953101
405,748
33,700
33,700
N/A
N/A

N/A
33,700
N/A
McGraw-Hill
COM
580645109
490,230
19,500
19,500
N/A
N/A

N/A
19,500
N/A
Medco Health Solutions Inc.
COM
58405U102
217,811
3,938
3,938
N/A
N/A

N/A
3,938
N/A
Mirant Corp
COM
60467R100
3,180,027
193,550
193,550
N/A
N/A

N/A
193,550
N/A
3M Company
COM
88579Y101
675,639
9,155
9,155
N/A
N/A

N/A
9,155
N/A
Altria Group Inc.
COM
02209S103
408,383
22,930
22,930
N/A
N/A

N/A
22,930
N/A
Motorola Inc.
COM
620076109
2,333,474
271,650
271,650
N/A
N/A

N/A
271,650
N/A
Merck & Co. (OLD)
COM
589331107
4,026,499
127,300
127,300
N/A
N/A

N/A
127,300
N/A
Marathon Oil Company
COM
565849106
374,028
11,725
11,725
N/A
N/A

N/A
11,725
N/A
Morgan Stanley
COM NEW
617446448
1,569,785
50,835
50,835
N/A
N/A

N/A
50,835
N/A
Microsoft Corp.
COM
594918104
6,503,982
251,216
251,216
N/A
N/A

N/A
251,216
N/A
Microstrategy Inc
CL A NEW
594972408
2,314,319
32,350
32,350
N/A
N/A

N/A
32,350
N/A
Mvc Capital Inc
COM
553829102
272,593
31,047
31,047
N/A
N/A

N/A
31,047
N/A
Mens Wearhouse Inc
COM
587118100
760,760
30,800
30,800
N/A
N/A

N/A
30,800
N/A
Mylan Laboratories
COM
628530107
366,629
22,900
22,900
N/A
N/A

N/A
22,900
N/A
Nash Finch Co
COM
631158102
743,293
27,187
27,187
N/A
N/A

N/A
27,187
N/A
NCR Corp.
COM
62886E108
2,025,321
146,550
146,550
N/A
N/A

N/A
146,550
N/A
Nci Building Systems Inc
COM
628852105
739,200
231,000
231,000
N/A
N/A

N/A
231,000
N/A
Nasdaq OMX Group
COM
631103108
315,750
15,000
15,000
N/A
N/A

N/A
15,000
N/A
Noble Corp.
NAMEN-AKT
H5833N103
427,050
11,250
11,250
N/A
N/A

N/A
11,250
N/A
Newmont Mining Corp.
COM
651639106
1,159,927
26,350
26,350
N/A
N/A

N/A
26,350
N/A
National Health Invs Inc
COM
63633D104
642,495
20,300
20,300
N/A
N/A

N/A
20,300
N/A
Nisource
COM
65473P105
2,797,446
201,400
201,400
N/A
N/A

N/A
201,400
N/A
Knight Capital Group Inc.
CL A
499005106
2,264,175
104,100
104,100
N/A
N/A

N/A
104,100
N/A
NN Inc
COM
629337106
51,968
11,200
11,200
N/A
N/A

N/A
11,200
N/A
Northrop Grumman Corp.
COM
666807102
8,271,979
159,845
159,845
N/A
N/A

N/A
159,845
N/A
National-Oilwell Inc
COM
637071101
226,433
5,250
5,250
N/A
N/A

N/A
5,250
N/A
Enpro Industries Inc
COM
29355X107
3,339,846
146,100
146,100
N/A
N/A

N/A
146,100
N/A
Northstar Realty Finance Cp
COM
66704R100
101,660
28,963
28,963
N/A
N/A

N/A
28,963
N/A
Insight Enterprises Inc
COM
45765U103
1,458,790
119,475
119,475
N/A
N/A

N/A
119,475
N/A
Ness Technologies Inc
COM
64104X108
371,619
47,100
47,100
N/A
N/A

N/A
47,100
N/A
Nutrisystem Inc
COM
67069D108
2,244,746
147,100
147,100
N/A
N/A

N/A
147,100
N/A
Nucor Corp.
COM
670346105
17,628,750
375,000
375,000
N/A
N/A

N/A
375,000
N/A
NVR Inc
COM
62944T105
637,370
1,000
1,000
N/A
N/A

N/A
1,000
N/A
Northwestern Corp
COM NEW
668074305
835,506
34,200
34,200
N/A
N/A

N/A
34,200
N/A
News Corp Class A
CL A
65248E104
375,287
31,300
31,300
N/A
N/A

N/A
31,300
N/A
NYSE Euronet
COM
629491101
1,786,847
61,850
61,850
N/A
N/A

N/A
61,850
N/A
Omnicare Inc
COM
681904108
4,400,408
195,400
195,400
N/A
N/A

N/A
195,400
N/A
Oriental Financial Group Inc
COM
68618W100
449,580
35,400
35,400
N/A
N/A

N/A
35,400
N/A
Oil States Intl Inc
COM
678026105
2,427,483
69,100
69,100
N/A
N/A

N/A
69,100
N/A
Olin Corp
COM
680665205
295,608
16,950
16,950
N/A
N/A

N/A
16,950
N/A
Omnicom Group Inc.
COM
681919106
847,773
22,950
22,950
N/A
N/A

N/A
22,950
N/A
Oracle Corp.
COM
68389X105
2,652,619
127,285
127,285
N/A
N/A

N/A
127,285
N/A
Prestige Brands Holdings
COM
74112D101
207,680
29,500
29,500
N/A
N/A

N/A
29,500
N/A
PDL BioPharma Inc
COM
69329Y104
1,982,608
251,600
251,600
N/A
N/A

N/A
251,600
N/A
PepsiCo Inc.
COM
713448108
2,894,578
49,345
49,345
N/A
N/A

N/A
49,345
N/A
Pfizer Inc.
COM
717081103
10,143,379
612,893
612,893
N/A
N/A

N/A
612,893
N/A
Procter & Gamble
COM
742718109
4,428,621
76,461
76,461
N/A
N/A

N/A
76,461
N/A
Premiere Global Services Inc
COM
740585104
122,988
14,800
14,800
N/A
N/A

N/A
14,800
N/A
PHH Corp.
COM NEW
693320202
291,648
14,700
14,700
N/A
N/A

N/A
14,700
N/A
Photronics Inc
COM
719405102
105,228
22,200
22,200
N/A
N/A

N/A
22,200
N/A
Prologis
SH BEN INT
743410102
2,786,896
233,800
233,800
N/A
N/A

N/A
233,800
N/A
Polyone Corp
COM
73179P106
194,097
29,100
29,100
N/A
N/A

N/A
29,100
N/A
Pepco Holdings Inc
COM
713291102
2,955,912
198,650
198,650
N/A
N/A

N/A
198,650
N/A
ING Prime Rate Trust
SH BEN INT
44977W106
1,413,600
285,000
285,000
N/A
N/A

N/A
285,000
N/A
Partnerre Ltd.
COM
G6852T105
2,565,949
33,350
33,350
N/A
N/A

N/A
33,350
N/A
Progress Software Corp
COM
743312100
217,440
9,600
9,600
N/A
N/A

N/A
9,600
N/A
Par Pharmaceutical Cos Inc
COM
69888P106
1,856,313
86,300
86,300
N/A
N/A

N/A
86,300
N/A
Pantry Inc
COM
698657103
2,389,632
152,400
152,400
N/A
N/A

N/A
152,400
N/A
Qwest Communications Intl.
COM
749121109
823,646
216,180
216,180
N/A
N/A

N/A
216,180
N/A
Qualcomm Inc.
COM
747525103
236,145
5,250
5,250
N/A
N/A

N/A
5,250
N/A
Quest Software Inc
COM
74834T103
1,784,415
105,900
105,900
N/A
N/A

N/A
105,900
N/A
Ryder Systems Inc.
COM
783549108
2,187,360
56,000
56,000
N/A
N/A

N/A
56,000
N/A
Reynolds American Inc.
COM
761713106
507,528
11,400
11,400
N/A
N/A

N/A
11,400
N/A
Rent-A-Center Inc
COM
76009N100
2,714,000
143,750
143,750
N/A
N/A

N/A
143,750
N/A
Royal Caribbean Cruises Ltd.
COM
V7780T103
801,864
33,300
33,300
N/A
N/A

N/A
33,300
N/A
Rowan Cos Inc.
COM
779382100
738,817
32,025
32,025
N/A
N/A

N/A
32,025
N/A
Regions Financial Corp.
COM
7591EP100
179,159
28,850
28,850
N/A
N/A

N/A
28,850
N/A
Regis Corp/Mn
COM
758932107
740,900
47,800
47,800
N/A
N/A

N/A
47,800
N/A
Transocean Inc.
REG SHS
H8817H100
795,429
9,300
9,300
N/A
N/A

N/A
9,300
N/A
Republic Airways Hldgs Inc
COM
760276105
202,461
21,700
21,700
N/A
N/A

N/A
21,700
N/A
Raymond James Financial Corp
COM
754730109
1,394,472
59,900
59,900
N/A
N/A

N/A
59,900
N/A
Ramco-gershenson Properties
COM
751452202
125,772
14,100
14,100
N/A
N/A

N/A
14,100
N/A
RR Donnelley & Sons Co.
COM
257867101
1,686,981
79,350
79,350
N/A
N/A

N/A
79,350
N/A
Raytheon Company
COM NEW
755111507
3,190,245
66,505
66,505
N/A
N/A

N/A
66,505
N/A
IMS Health Inc.
COM
449934108
4,222,785
275,100
275,100
N/A
N/A

N/A
275,100
N/A
Sprint Nextel Corp.
COM
852061100
1,215,210
307,648
307,648
N/A
N/A

N/A
307,648
N/A
Safety Insurance Group Inc
COM
78648T100
3,329,858
101,150
101,150
N/A
N/A

N/A
101,150
N/A
Sonic Automotive Inc  -Cl A
CL A
83545G102
446,250
42,500
42,500
N/A
N/A

N/A
42,500
N/A
Saic Inc
COM
78390X101
791,054
45,100
45,100
N/A
N/A

N/A
45,100
N/A
School Specialty Inc
COM
807863105
1,285,624
54,200
54,200
N/A
N/A

N/A
54,200
N/A
Steelcase Inc
CL A
858155203
222,318
35,800
35,800
N/A
N/A

N/A
35,800
N/A
Sigma Designs Inc
COM
826565103
1,235,050
85,000
85,000
N/A
N/A

N/A
85,000
N/A
Silicon Image Inc
COM
82705T102
248,589
102,300
102,300
N/A
N/A

N/A
102,300
N/A
Skywest Inc
COM
830879102
852,212
51,400
51,400
N/A
N/A

N/A
51,400
N/A
Schlumberger Ltd.
COM
806857108
674,672
11,320
11,320
N/A
N/A

N/A
11,320
N/A
Sara Lee Corp.
COM
803111103
683,550
61,360
61,360
N/A
N/A

N/A
61,360
N/A
Synopsys Inc
COM
871607107
1,401,250
62,500
62,500
N/A
N/A

N/A
62,500
N/A
S&P 500 Direct Depository Receipts
UNIT SER 1
78462F103
327,329
3,100
3,100
N/A
N/A

N/A
3,100
N/A
Steiner Leisure
ORD
P8744Y102
475,608
13,300
13,300
N/A
N/A

N/A
13,300
N/A
Seagate Technology
SHS
G7945J104
252,486
16,600
16,600
N/A
N/A

N/A
16,600
N/A
Constellation Brands Class A
CL A
21036P108
1,727,858
114,050
114,050
N/A
N/A

N/A
114,050
N/A
Sunoco Inc.
COM
86764P109
2,488,664
87,475
87,475
N/A
N/A

N/A
87,475
N/A
Supervalu Inc.
COM
868536103
3,606,870
239,500
239,500
N/A
N/A

N/A
239,500
N/A
Standex International Corp
COM
854231107
212,181
10,700
10,700
N/A
N/A

N/A
10,700
N/A
Sybase Inc
COM
871130100
778,000
20,000
20,000
N/A
N/A

N/A
20,000
N/A
Symantec Corp.
COM
871503108
7,185,861
436,300
436,300
N/A
N/A

N/A
436,300
N/A
AT&T Inc.
COM
00206R102
7,911,256
292,901
292,901
N/A
N/A

N/A
292,901
N/A
Teleflex Inc
COM
879369106
4,116,012
85,200
85,200
N/A
N/A

N/A
85,200
N/A
Target Corp.
COM
87612E106
267,243
5,725
5,725
N/A
N/A

N/A
5,725
N/A
Tibco Software Inc
COM
88632Q103
238,199
25,100
25,100
N/A
N/A

N/A
25,100
N/A
Timken Co
COM
887389104
981,717
41,900
41,900
N/A
N/A

N/A
41,900
N/A
Thermo Fisher Scientific
COM
883556102
2,880,037
65,950
65,950
N/A
N/A

N/A
65,950
N/A
Thomas & Betts Corp.
COM
884315102
875,328
29,100
29,100
N/A
N/A

N/A
29,100
N/A
Tutor Perini Corp.
COM
901109108
2,716,815
127,550
127,550
N/A
N/A

N/A
127,550
N/A
Dealertrack Holdings Inc
COM
242309102
223,138
11,800
11,800
N/A
N/A

N/A
11,800
N/A
Trimas Corp
COM NEW
896215209
61,200
12,000
12,000
N/A
N/A

N/A
12,000
N/A
The Travelers Companies Inc.
COM
89417E109
2,587,529
52,560
52,560
N/A
N/A

N/A
52,560
N/A
Tesoro Petroleum Corp
COM
881609101
840,378
56,100
56,100
N/A
N/A

N/A
56,100
N/A
TTM Technologies Inc
COM
87305R109
707,917
61,719
61,719
N/A
N/A

N/A
61,719
N/A
Time Warner Cable Inc
COM
88732J207
253,154
5,875
5,875
N/A
N/A

N/A
5,875
N/A
Time Warner Inc.
COM NEW
887317303
7,262,518
252,346
252,346
N/A
N/A

N/A
252,346
N/A
Texas Instruments Inc.
COM
882508104
3,405,438
143,750
143,750
N/A
N/A

N/A
143,750
N/A
Tyco International Ltd.
SHS
H89128104
4,513,432
130,900
130,900
N/A
N/A

N/A
130,900
N/A
Universal American Finl Cp
COM
913377107
582,156
61,800
61,800
N/A
N/A

N/A
61,800
N/A
Domtar Corp.
COM NEW
257559203
218,364
6,200
6,200
N/A
N/A

N/A
6,200
N/A
Ugi Corp
COM
902681105
1,445,711
57,690
57,690
N/A
N/A

N/A
57,690
N/A
Unum Group
COM
91529Y106
500,088
23,325
23,325
N/A
N/A

N/A
23,325
N/A
United Online Inc
COM
911268100
2,907,007
361,568
361,568
N/A
N/A

N/A
361,568
N/A
US Bancorp Inc.
COM NEW
902973304
231,170
10,575
10,575
N/A
N/A

N/A
10,575
N/A
US Cellular Corp
COM
911684108
1,421,328
36,379
36,379
N/A
N/A

N/A
36,379
N/A
Usa Mobility Inc.
COM
90341G103
2,340,747
181,735
181,735
N/A
N/A

N/A
181,735
N/A
United Technologies Corp.
COM
913017109
463,068
7,600
7,600
N/A
N/A

N/A
7,600
N/A
Universal Corp/Va
COM
913456109
1,718,802
41,100
41,100
N/A
N/A

N/A
41,100
N/A
Vanguard Small-Cap ETF
SMALL CP ETF
922908751
305,525
5,500
5,500
N/A
N/A

N/A
5,500
N/A
Valueclick Inc
COM
92046N102
1,847,260
140,050
140,050
N/A
N/A

N/A
140,050
N/A
Viacom Inc. Class B
CL B
92553P201
325,965
11,625
11,625
N/A
N/A

N/A
11,625
N/A
Knightsbridge Tkrs.
ORD
G5299G106
388,592
29,800
29,800
N/A
N/A

N/A
29,800
N/A
Valero Energy
COM
91913Y100
3,261,495
168,205
168,205
N/A
N/A

N/A
168,205
N/A
Vishay Intrtechnology
COM
928298108
2,300,480
291,200
291,200
N/A
N/A

N/A
291,200
N/A
Viad Corp
COM NEW
92552R406
527,615
26,500
26,500
N/A
N/A

N/A
26,500
N/A
Verizon Communications
COM
92343V104
3,636,638
120,140
120,140
N/A
N/A

N/A
120,140
N/A
Wesco Intl Inc
COM
95082P105
964,800
33,500
33,500
N/A
N/A

N/A
33,500
N/A
Western Digital Corp
COM
958102105
1,471,794
40,290
40,290
N/A
N/A

N/A
40,290
N/A
Wells Fargo & Company
COM
949746101
2,676,255
94,970
94,970
N/A
N/A

N/A
94,970
N/A
Memc Electronic Matrials Inc
COM
552715104
372,512
22,400
22,400
N/A
N/A

N/A
22,400
N/A
Whirlpool Corp.
COM
963320106
2,333,166
33,350
33,350
N/A
N/A

N/A
33,350
N/A
Wal-Mart Stores
COM
931142103
1,583,692
32,261
32,261
N/A
N/A

N/A
32,261
N/A
Western Refining Inc
COM
959319104
1,451,895
225,100
225,100
N/A
N/A

N/A
225,100
N/A
Watson Pharmaceutical
COM
942683103
2,213,056
60,400
60,400
N/A
N/A

N/A
60,400
N/A
World Acceptance Cp/de
COM
981419104
511,763
20,300
20,300
N/A
N/A

N/A
20,300
N/A
Williams-Sonoma Inc
COM
969904101
604,877
29,900
29,900
N/A
N/A

N/A
29,900
N/A
Website Pros Inc
COM
94733A104
152,435
21,500
21,500
N/A
N/A

N/A
21,500
N/A
Wright Express Corp
COM
98233Q105
1,838,473
62,300
62,300
N/A
N/A

N/A
62,300
N/A
Wyeth Inc.
COM
983024100
767,710
15,803
15,803
N/A
N/A

N/A
15,803
N/A
Wyndham Worldwide Corp
COM
98310W108
2,278,272
139,600
139,600
N/A
N/A

N/A
139,600
N/A
Materials Select Sector SPDR
SBI MATERIALS
81369Y100
262,990
8,500
8,500
N/A
N/A

N/A
8,500
N/A
Exxon Mobil Corp.
COM
30231G102
9,761,625
142,277
142,277
N/A
N/A

N/A
142,277
N/A
Xerox Corporation
COM
984121103
2,890,116
373,400
373,400
N/A
N/A

N/A
373,400
N/A
Yahoo! Inc.
COM
984332106
431,002
24,200
24,200
N/A
N/A

N/A
24,200
N/A
Quiksilver Inc
COM
74838C106
105,050
38,200
38,200
N/A
N/A

N/A
38,200
N/A
iShares MSCI EAFE Index Fund
MSCI EAFE IDX
464287465
6,504,952
118,964
118,964
N/A
N/A

N/A
118,964
N/A
iShares S&P 500
S&P 500 INDEX
464287200
4,195,346
39,575
39,575
N/A
N/A

N/A
39,575
N/A



6,809,364,467
231,183,527
231,183,527




231,183,527


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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