-----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, InlfDM8JCwOT0xcpTPFahOQ5nLXrL1uMVZO4YdTFTJYYZ5nLwT1mx5GOnJh402dn nsF7eE6037Fh4eNSniCJ4g== 0001142941-10-000004.txt : 20101020 0001142941-10-000004.hdr.sgml : 20101020 20101019182618 ACCESSION NUMBER: 0001142941-10-000004 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100930 FILED AS OF DATE: 20101020 DATE AS OF CHANGE: 20101019 EFFECTIVENESS DATE: 20101020 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: 101131342 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 report20100930.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, 2010 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 October 19, 2010 - ------------------- ------------------ -------------------- [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: 455 Form 13F Information Table Value Total: $1247745 (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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AFLAC Inc. COM 001055102 5057 97801 SH SOLE 49001 0 48800 AGL Resources Inc. COM 001204106 3951 103000 SH SOLE 56400 0 46600 AMR Corporation COM 001765106 21 3300 SH SOLE 3300 0 0 AT&T Inc. COM 00206R102 24905 870793 SH SOLE 573035 0 297758 Aaron Rents Inc. COM 002535201 113 6150 SH SOLE 6150 0 0 Acme Packet, Inc. COM 004764106 4276 112700 SH SOLE 80100 0 32600 Advance Auto Parts Inc COM 00751Y106 552 9400 SH SOLE 9400 0 0 Aecom Technology Corp. COM 00766T100 619 25500 SH SOLE 25500 0 0 Aeropostale Inc COM 007865108 146 6300 SH SOLE 6300 0 0 Aetna Inc. COM 00817Y108 70 2200 SH SOLE 2200 0 0 Affiliated Managers Group COM 008252108 242 3100 SH SOLE 3100 0 0 Agco Corporation COM 001084102 47 1200 SH SOLE 500 0 700 Alaska Air Group Inc COM 011659109 1536 30100 SH SOLE 21200 0 8900 Alcoa, Inc. COM 013817101 430 35500 SH SOLE 8000 0 27500 Alexion Pharmaceuticals COM 015351109 290 4500 SH SOLE 4500 0 0 Alliance Data Systems Corp COM 018581108 78 1200 SH SOLE 0 0 1200 Alliant Energy Corp. COM 018802108 18 500 SH SOLE 0 0 500 Alliant Techsystems Inc COM 018804104 867 11500 SH SOLE 8000 0 3500 Allstate Corporation COM 020002101 7780 246590 SH SOLE 127400 0 119190 Altera Corp. COM 021441100 1960 65000 SH SOLE 65000 0 0 Altria Group Inc COM 02209S103 28976 1206343 SH SOLE 725943 0 480400 Ameren Corp COM 023608102 7287 256600 SH SOLE 105400 0 151200 American Axle & Manufacturing COM 024061103 4299 476600 SH SOLE 233700 0 242900 American Campus Communities COM 024835100 161 5300 SH SOLE 5300 0 0 American Capital Agency COM 02503X105 252 9500 SH SOLE 5500 0 4000 American Financial Group COM 025932104 306 10000 SH SOLE 10000 0 0 American Greetings cl A COM 026375105 288 15500 SH SOLE 15500 0 0 American Water Works COM 030420103 3733 160400 SH SOLE 139400 0 21000 AmerisourceBergen Corp COM 03073E105 18006 587276 SH SOLE 320976 0 266300 Annaly Capital Mgmt. COM 035710409 2061 117100 SH SOLE 65300 0 51800 Apple Inc. COM 037833100 6771 23862 SH SOLE 12362 0 11500 Aqua America Inc COM 03836W103 3811 186800 SH SOLE 97100 0 89700 Arbitron, Inc. COM 03875Q108 3040 108700 SH SOLE 53500 0 55200 ArcSight, Inc. COM 039666102 5368 123300 SH SOLE 58300 0 65000 Archer Daniels Midland COM 039483102 14580 456778 SH SOLE 233478 0 223300 Ares Capital Corp COM 04010L103 55 3500 SH SOLE 2400 0 1100 Arkansas Best Corp COM 040790107 22 900 SH SOLE 0 0 900 ArvinMeritor Inc COM 043353101 371 23900 SH SOLE 22600 0 1300 Assurant Inc. COM 04621X108 1905 46800 SH SOLE 20400 0 26400 Atlas Air Worldwide COM 049164205 498 9900 SH SOLE 4900 0 5000 Atmos Energy Corp COM 049560105 1752 59900 SH SOLE 37400 0 22500 AutoZone Inc. COM 053332102 2060 9000 SH SOLE 8500 0 500 Autoliv Inc. COM 052800109 78 1200 SH SOLE 1200 0 0 Avery Dennison Corp. COM 053611109 249 6700 SH SOLE 6700 0 0 Axis Capital Holdings Ltd COM G0692U109 1799 54600 SH SOLE 27700 0 26900 BMC Software Inc. COM 055921100 498 12300 SH SOLE 700 0 11600 BRE Properties Inc. COM 05564E106 340 8200 SH SOLE 8200 0 0 Bank of America Corp COM 060505104 28697 2190584 SH SOLE 1029322 0 1161262 Bank of Hawaii Corp COM 062540109 750 16700 SH SOLE 15900 0 800 Bank of New York Mellon Corp. COM 064058100 7234 276840 SH SOLE 138140 0 138700 Beckman Coulter, Inc. COM 075811109 478 9800 SH SOLE 8700 0 1100 Berkshire Hathaway cl B COM 084670702 23547 284800 SH SOLE 153800 0 131000 Best Buy Co., Inc. COM 086516101 13903 340500 SH SOLE 212100 0 128400 Bio-Rad Laboratories Cl A COM 090572207 36 400 SH SOLE 0 0 400 Boeing Company COM 097023105 8797 132200 SH SOLE 74200 0 58000 Boston Properties, Inc. COM 101121101 2535 30500 SH SOLE 3500 0 27000 Broadcom Corporation COM 111320107 478 13500 SH SOLE 13500 0 0 Brookline Bancorp, Inc. COM 11373M107 43 4300 SH SOLE 4300 0 0 Buckle Inc. COM 118440106 31 1150 SH SOLE 0 0 1150 C.R. Bard Inc. COM 067383109 472 5800 SH SOLE 1200 0 4600 CBL & Associates Properties COM 124830100 2915 223200 SH SOLE 118900 0 104300 CBS Corp. Class B COM 124857202 155 9800 SH SOLE 9800 0 0 CEC Entertainment Inc COM 125137109 477 13900 SH SOLE 10700 0 3200 CIGNA Corporation COM 125509109 2991 83600 SH SOLE 38700 0 44900 CMS Energy Corp COM 125896100 1238 68700 SH SOLE 66200 0 2500 CNA Financial Corporation COM 126117100 1215 43400 SH SOLE 13900 0 29500 CSG Systems International COM 126349109 4 200 SH SOLE 0 0 200 CSX Corporation COM 126408103 6190 111900 SH SOLE 60300 0 51600 CVB Financial Corp. COM 126600105 314 41800 SH SOLE 12300 0 29500 CVS Caremark Corp. COM 126650100 43 1373 SH SOLE 0 0 1373 Cabot Corporation COM 127055101 169 5200 SH SOLE 4800 0 400 California Water Srvc Grp COM 130788102 7 200 SH SOLE 200 0 0 Cameron International Corp. COM 13342B105 1693 39400 SH SOLE 28400 0 11000 Campbell Soup Company COM 134429109 19723 551700 SH SOLE 324600 0 227100 Capital One Financial Corp. COM 14040H105 3465 87600 SH SOLE 36200 0 51400 Capstead Mortgage Corp COM 14067E506 9 800 SH SOLE 0 0 800 Cardinal Health Inc. COM 14149Y108 10039 303841 SH SOLE 192141 0 111700 Carnival Corp COM 143658300 305 8000 SH SOLE 8000 0 0 Cash America Int'l Inc. COM 14754D100 7 200 SH SOLE 0 0 200 Caterpillar Inc COM 149123101 1983 25200 SH SOLE 11300 0 13900 Celanese Corp. COM 150870103 356 11100 SH SOLE 9400 0 1700 CenterPoint Energy Inc COM 15189T107 531 33800 SH SOLE 33800 0 0 Century Aluminum Co. COM 156431108 216 16400 SH SOLE 16400 0 0 CenturyTel Inc. COM 156700106 1405 35600 SH SOLE 31400 0 4200 Chevron Corp COM 166764100 28226 348254 SH SOLE 161054 0 187200 Choice Hotels Intl COM 169905106 6869 188400 SH SOLE 103200 0 85200 Chubb Corp COM 171232101 3442 60400 SH SOLE 59100 0 1300 Cisco Systems Inc. COM 17275R102 473 21600 SH SOLE 3800 0 17800 City National Corporation COM 178566105 32 600 SH SOLE 600 0 0 Cliffs Natural Resources Inc COM 18683K101 2359 36900 SH SOLE 2800 0 34100 Coca-Cola Enterprises Inc. COM 191219104 5348 172500 SH SOLE 123600 0 48900 Colgate-Palmolive Co COM 194162103 7340 95500 SH SOLE 50400 0 45100 Colonial Properties Trust COM 195872106 13 800 SH SOLE 0 0 800 Commerce Bancshares Inc COM 200525103 1762 46880 SH SOLE 11871 0 35009 Commercial Metals Co. COM 201723103 297 20500 SH SOLE 20500 0 0 Compass Diversified Holdings COM 20451Q104 3 200 SH SOLE 0 0 200 Computer Sciences Corp COM 205363104 5994 130300 SH SOLE 66400 0 63900 ConAgra Foods, Inc. COM 205887102 11 500 SH SOLE 0 0 500 Concho Resources Inc. COM 20605P101 112 1700 SH SOLE 1700 0 0 ConocoPhillips COM 20825C104 7443 129600 SH SOLE 118700 0 10900 Consolidated Edison, Inc. COM 209115104 2816 58400 SH SOLE 21400 0 37000 Constellation Energy Group COM 210371100 11719 363500 SH SOLE 194500 0 169000 Continental Resources, Inc. COM 212015101 278 6000 SH SOLE 6000 0 0 Convergys Corporation COM 212485106 446 42700 SH SOLE 42700 0 0 Corporate Executive Board Co. COM 21988R102 1729 54800 SH SOLE 33000 0 21800 Corporate Office Properties COM 22002T108 1440 38600 SH SOLE 22500 0 16100 Covanta Holding Corporation COM 22282E102 24 1500 SH SOLE 0 0 1500 Coventry Health Care COM 222862104 323 15000 SH SOLE 15000 0 0 Cracker Barrel Old Cntry Store COM 22410J106 1371 27000 SH SOLE 17500 0 9500 Crown Holdings, Inc. COM 228368106 1900 66300 SH SOLE 19600 0 46700 Cullen/Frost Bankers COM 229899109 630 11700 SH SOLE 4300 0 7400 DG FastChannel, Inc. COM 23326R109 681 31300 SH SOLE 31300 0 0 DIRECTV Class A COM 25490A101 7240 173916 SH SOLE 103216 0 70700 DISH Network Corp Cl A COM 25470M109 5773 300500 SH SOLE 156300 0 144200 DPL Inc. COM 233293109 34 1300 SH SOLE 1300 0 0 DST Systems Inc. COM 233326107 211 4700 SH SOLE 4400 0 300 DTE Energy Company COM 233331107 119 2600 SH SOLE 0 0 2600 Dana Holding Corp. COM 235825205 238 19300 SH SOLE 16700 0 2600 Dean Foods Co COM 242370104 3092 302800 SH SOLE 109300 0 193500 Dell Inc. COM 24702R101 5293 408100 SH SOLE 221100 0 187000 Delphi Financial Group Inc. COM 247131105 407 16300 SH SOLE 8900 0 7400 Delta Air Lines, Inc. COM 247361702 1273 109400 SH SOLE 43600 0 65800 Deluxe Corporation COM 248019101 1561 81600 SH SOLE 55500 0 26100 Developers Diversified Realty COM 251591103 886 79000 SH SOLE 77200 0 1800 Devon Energy Corp COM 25179M103 104 1600 SH SOLE 1600 0 0 DigitalGlobe, Inc. COM 25389M877 21 700 SH SOLE 700 0 0 Discover Financial Services COM 254709108 20 1200 SH SOLE 0 0 1200 Dollar Thrifty Automotive COM 256743105 115 2300 SH SOLE 2300 0 0 Dollar Tree Inc. COM 256746108 124 2550 SH SOLE 0 0 2550 Douglas Emmett, Inc. COM 25960P109 268 15300 SH SOLE 15300 0 0 Dow Chemical Company COM 260543103 2957 107700 SH SOLE 74100 0 33600 DuPont de Nemours & Co. COM 263534109 9094 203800 SH SOLE 62600 0 141200 Duke Energy Corp COM 26441C105 425 24000 SH SOLE 24000 0 0 Dun & Bradstreet Corp COM 26483E100 3099 41800 SH SOLE 12000 0 29800 Eaton Vance Corp. COM 278265103 215 7400 SH SOLE 7400 0 0 Edison International COM 281020107 2813 81800 SH SOLE 63900 0 17900 El Paso Corp COM 28336L109 931 75200 SH SOLE 39300 0 35900 Eli Lilly & Co. COM 532457108 6079 166400 SH SOLE 107600 0 58800 Emergency Medical Services COM 29100P102 895 16800 SH SOLE 16300 0 500 Empire District Electric Co. COM 291641108 202 10000 SH SOLE 5000 0 5000 Endo Pharmaceuticals COM 29264F205 83 2500 SH SOLE 2000 0 500 Energen Corporation COM 29265N108 892 19500 SH SOLE 9900 0 9600 Energizer Holdings Inc COM 29266R108 524 7800 SH SOLE 7800 0 0 Entergy Corp COM 29364G103 46 600 SH SOLE 600 0 0 Equity Lifestyle Properties COM 29472R108 283 5200 SH SOLE 5200 0 0 Equity Residential Properties COM 29476L107 1613 33900 SH SOLE 19600 0 14300 Everest Re Group Ltd COM G3223R108 311 3600 SH SOLE 3600 0 0 Exco Resources, Inc. COM 269279402 430 28900 SH SOLE 28900 0 0 Exelon Corp COM 30161N101 3284 77121 SH SOLE 56521 0 20600 Expedia, Inc. COM 30212P105 1841 65200 SH SOLE 55500 0 9700 Exterran Holdings, Inc. COM 30225X103 293 12900 SH SOLE 12900 0 0 Exxon Mobil Corporation COM 30231G102 29408 475929 SH SOLE 247329 0 228600 FMC Technologies Inc COM 30249U101 376 5500 SH SOLE 5500 0 0 Fairchild Semiconductor COM 303726103 31 3300 SH SOLE 300 0 3000 FedEx Corp COM 31428X106 2035 23800 SH SOLE 15200 0 8600 Federal Realty Investment COM 313747206 939 11500 SH SOLE 11500 0 0 Federated Investors Inc COM 314211103 885 38900 SH SOLE 38900 0 0 Fidelity National Financial COM 31620R105 589 37500 SH SOLE 23700 0 13800 Fifth Third Bancorp COM 316773100 510 42400 SH SOLE 22100 0 20300 First Niagara Financial Group COM 33582V108 1166 100100 SH SOLE 45700 0 54400 FirstEnergy Corporation COM 337932107 2320 60199 SH SOLE 59799 0 400 Flowers Foods Inc COM 343498101 117 4700 SH SOLE 4700 0 0 Foot Locker Inc COM 344849104 32 2200 SH SOLE 0 0 2200 Ford Motor Company COM 345370860 1186 96900 SH SOLE 61000 0 35900 Forest City Enterprises A COM 345550107 135 10500 SH SOLE 10500 0 0 Forest Laboratories Inc. COM 345838106 232 7500 SH SOLE 7500 0 0 Frontier Communications Corp. COM 35906A108 1919 234896 SH SOLE 160004 0 74892 Gamestop Corp COM 36467W109 828 42000 SH SOLE 12700 0 29300 Gannett Co. Inc. COM 364730101 192 15700 SH SOLE 15700 0 0 Garmin Ltd COM G37260109 467 15400 SH SOLE 0 0 15400 Gartner Inc. COM 366651107 165 5600 SH SOLE 5600 0 0 General Dynamics Corp. COM 369550108 1570 25000 SH SOLE 19800 0 5200 General Electric Co COM 369604103 19338 1190011 SH SOLE 736011 0 454000 Genpact Limited COM G3922B107 4 200 SH SOLE 0 0 200 Genuine Parts Company COM 372460105 10220 229200 SH SOLE 121000 0 108200 Genworth Financial Inc COM 37247D106 10275 840800 SH SOLE 435300 0 405500 Getty Realty Corp COM 374297109 443 16500 SH SOLE 6200 0 10300 Global Payments Inc. COM 37940X102 1029 24000 SH SOLE 24000 0 0 Goldman Sachs Group Inc COM 38141G104 43 300 SH SOLE 300 0 0 Google Inc COM 38259P508 2576 4900 SH SOLE 500 0 4400 Grand Canyon Education, Inc COM 38526M106 239 10900 SH SOLE 10900 0 0 Great Plains Energy Inc COM 391164100 9218 487700 SH SOLE 261300 0 226400 Greenhill & Co Inc. COM 395259104 214 2700 SH SOLE 2700 0 0 Greif Inc cl A COM 397624107 300 5100 SH SOLE 5100 0 0 Group 1 Automotive, Inc. COM 398905109 140 4700 SH SOLE 4700 0 0 Gulfmark Offshore Inc. COM 402629109 6 200 SH SOLE 0 0 200 H&R Block Inc. COM 093671105 996 76900 SH SOLE 76900 0 0 H.J. Heinz Company COM 423074103 2340 49400 SH SOLE 8000 0 41400 HCP, Inc. COM 40414L109 209 5800 SH SOLE 900 0 4900 HSN, Inc. COM 404303109 176 5900 SH SOLE 5900 0 0 Harris Corporation COM 413875105 895 20200 SH SOLE 5300 0 14900 Hartford Financial Services COM 416515104 8290 361200 SH SOLE 186400 0 174800 Hasbro Inc. COM 418056107 761 17100 SH SOLE 17100 0 0 Health Care REIT Inc COM 42217K106 175 3700 SH SOLE 3700 0 0 Health Net Inc COM 42222G108 1865 68600 SH SOLE 65400 0 3200 Hershey Co. COM 427866108 471 9900 SH SOLE 9000 0 900 Hewlett-Packard Co COM 428236103 164 3900 SH SOLE 3900 0 0 Home Depot Inc. COM 437076102 3141 99133 SH SOLE 18933 0 80200 Horace Mann Educators COM 440327104 4 200 SH SOLE 0 0 200 Hormel Foods Corp COM 440452100 678 15200 SH SOLE 6600 0 8600 Hospitality Properties Trust COM 44106M102 29 1300 SH SOLE 0 0 1300 Host Hotels & Resorts, Inc. COM 44107P104 117 8100 SH SOLE 2900 0 5200 Hudson City Bancorp Inc COM 443683107 1689 137800 SH SOLE 131400 0 6400 Humana Inc. COM 444859102 7948 158200 SH SOLE 108400 0 49800 IAC/InterActiveCorp COM 44919P508 1664 63350 SH SOLE 19950 0 43400 IBM Corp COM 459200101 9578 71400 SH SOLE 36800 0 34600 IDACORP Inc COM 451107106 1013 28200 SH SOLE 22100 0 6100 IHS Inc. Class A COM 451734107 1476 21700 SH SOLE 7900 0 13800 ITT Corporation COM 450911102 187 4000 SH SOLE 3200 0 800 Incyte Corp COM 45337C102 206 12900 SH SOLE 12900 0 0 Innophos Holdings, Inc. COM 45774N108 1202 36300 SH SOLE 17500 0 18800 Integrys Energy Group COM 45822P105 651 12500 SH SOLE 11600 0 900 InterDigital, Inc. COM 45867G101 1460 49300 SH SOLE 27500 0 21800 Interactive Brokers Group COM 45841N107 213 12400 SH SOLE 4300 0 8100 IntercontinentalExchange Inc. COM 45865V100 1162 11100 SH SOLE 900 0 10200 International Bancshares COM 459044103 240 14200 SH SOLE 2500 0 11700 International Flavors&Frag. COM 459506101 24 500 SH SOLE 0 0 500 International Paper Co. COM 460146103 6708 308400 SH SOLE 180700 0 127700 International Speedway Corp COM 460335201 5 200 SH SOLE 0 0 200 Investors Real Estate Trust COM 461730103 3 400 SH SOLE 0 0 400 J.B. Hunt Transport Services COM 445658107 451 13000 SH SOLE 12100 0 900 JPMorgan Chase & Co COM 46625H100 22853 600455 SH SOLE 317555 0 282900 Jabil Circuit Inc. COM 466313103 893 62000 SH SOLE 15800 0 46200 Jack Henry & Associates COM 426281101 10 400 SH SOLE 0 0 400 Jarden Corp COM 471109108 604 19400 SH SOLE 18100 0 1300 Jo-Ann Stores Inc COM 47758P307 281 6300 SH SOLE 6300 0 0 Johnson & Johnson COM 478160104 87 1400 SH SOLE 1400 0 0 Joy Global Inc. COM 481165108 3847 54700 SH SOLE 37900 0 16800 KeyCorp COM 493267108 1434 180200 SH SOLE 10100 0 170100 Kimberly-Clark Corp. COM 494368103 911 14000 SH SOLE 5300 0 8700 Kimco Realty Corp. COM 49446R109 733 46600 SH SOLE 37600 0 9000 Kroger Company COM 501044101 9632 444700 SH SOLE 212200 0 232500 L-3 Communications COM 502424104 1062 14700 SH SOLE 12500 0 2200 Lam Research Corporation COM 512807108 96 2300 SH SOLE 1800 0 500 Lennox International, Inc. COM 526107107 250 6000 SH SOLE 6000 0 0 Lexmark International Inc. COM 529771107 76 1700 SH SOLE 0 0 1700 Liberty Global, Inc. Cl A COM 530555101 35395 1148800 SH SOLE 619600 0 529200 Liberty Media Capital Sr A COM 53071M302 10 200 SH SOLE 200 0 0 Limited Brands Inc COM 532716107 418 15600 SH SOLE 2400 0 13200 Lincare Holdings Inc. COM 532791100 5658 225600 SH SOLE 102200 0 123400 Lincoln National Corp COM 534187109 5631 235400 SH SOLE 130900 0 104500 Littelfuse Inc. COM 537008104 275 6300 SH SOLE 1800 0 4500 Lockheed Martin Corp. COM 539830109 24499 343700 SH SOLE 187100 0 156600 Lufkin Industries Inc COM 549764108 9 200 SH SOLE 0 0 200 M&T Bank Corp. COM 55261F104 679 8300 SH SOLE 7500 0 800 MDU Resources Group COM 552690109 1149 57600 SH SOLE 9800 0 47800 MKS Instruments Inc. COM 55306N104 268 14900 SH SOLE 6600 0 8300 Macerich Company COM 554382101 39 900 SH SOLE 0 0 900 Macy's Inc. COM 55616P104 3083 133600 SH SOLE 44100 0 89500 Marathon Oil Corp COM 565849106 2175 65700 SH SOLE 48500 0 17200 Maxim Integrated Products COM 57772K101 2103 113600 SH SOLE 63700 0 49900 McGraw-Hill Companies COM 580645109 433 13100 SH SOLE 12300 0 800 McKesson Corp COM 58155Q103 18137 293576 SH SOLE 122276 0 171300 MeadWestvaco Corp COM 583334107 10 400 SH SOLE 0 0 400 MedAssets, Inc. COM 584045108 2203 104700 SH SOLE 55000 0 49700 Medco Health Solutions Inc COM 58405U102 3563 68431 SH SOLE 49331 0 19100 Merck & Co. Inc. COM 58933Y105 18 500 SH SOLE 500 0 0 Mercury General Corp. COM 589400100 12 300 SH SOLE 300 0 0 MetLife, Inc. COM 59156R108 8391 218229 SH SOLE 112382 0 105847 MicroStrategy Inc COM 594972408 217 2500 SH SOLE 2500 0 0 Microsemi Corporation COM 595137100 58 3400 SH SOLE 0 0 3400 Microsoft Corporation COM 594918104 10733 438259 SH SOLE 263759 0 174500 Mid-America Apartment COM 59522J103 4342 74500 SH SOLE 30600 0 43900 Molex Inc COM 608554101 19 900 SH SOLE 0 0 900 Murphy Oil Corp. COM 626717102 1820 29400 SH SOLE 25200 0 4200 Myriad Genetics Inc. COM 62855J104 374 22800 SH SOLE 22800 0 0 NRG Energy Inc COM 629377508 1507 72400 SH SOLE 10100 0 62300 NSTAR COM 67019E107 3187 81000 SH SOLE 47300 0 33700 NV Energy, Inc. COM 67073Y106 59 4500 SH SOLE 2700 0 1800 Nalco Holding Co. COM 62985Q101 217 8600 SH SOLE 8600 0 0 National CineMedia, Inc. COM 635309107 2429 135700 SH SOLE 66800 0 68900 National Oilwell Varco Inc COM 637071101 20154 453200 SH SOLE 229300 0 223900 National Semiconductor COM 637640103 24852 1946100 SH SOLE 1096300 0 849800 Netflix Inc COM 64110L106 4119 25400 SH SOLE 12100 0 13300 New York Cmnty Bancorp COM 649445103 738 45400 SH SOLE 33600 0 11800 Newell Rubbermaid Inc COM 651229106 1099 61700 SH SOLE 16500 0 45200 Newfield Exploration Co. COM 651290108 1505 26200 SH SOLE 11500 0 14700 News Corp Cl A COM 65248E104 107 8200 SH SOLE 5400 0 2800 NiSource Inc COM 65473P105 927 53300 SH SOLE 9600 0 43700 Nicor Inc. COM 654086107 32 700 SH SOLE 700 0 0 Northeast Utilities COM 664397106 9 300 SH SOLE 300 0 0 Northern Trust Corp. COM 665859104 917 19000 SH SOLE 7200 0 11800 Northrop Grumman Corp COM 666807102 8597 141800 SH SOLE 84100 0 57700 Northwest Natural Gas Co. COM 667655104 9 200 SH SOLE 200 0 0 OGE Energy Corp. COM 670837103 32 800 SH SOLE 800 0 0 Oil States International COM 678026105 419 9000 SH SOLE 8400 0 600 Old Dominion Freight COM 679580100 282 11100 SH SOLE 3900 0 7200 Omnicom Group Inc. COM 681919106 71 1800 SH SOLE 1800 0 0 Oshkosh Corporation COM 688239201 2816 102400 SH SOLE 61700 0 40700 Overseas Shipholding Grp COM 690368105 24 700 SH SOLE 700 0 0 Owens & Minor Inc. COM 690732102 236 8300 SH SOLE 8300 0 0 P.F. Changs China Bistro COM 69333Y108 342 7400 SH SOLE 7400 0 0 PHH Corp. COM 693320202 27 1300 SH SOLE 1300 0 0 PNC Financial Services COM 693475105 12572 242198 SH SOLE 141498 0 100700 PNM Resources, Inc. COM 69349H107 7 600 SH SOLE 0 0 600 PPG Industries Inc. COM 693506107 1005 13800 SH SOLE 5900 0 7900 Parkway Properties Inc COM 70159Q104 74 5000 SH SOLE 5000 0 0 PartnerRe Ltd. COM G6852T105 208 2600 SH SOLE 2600 0 0 Patterson Companies Inc COM 703395103 269 9400 SH SOLE 9400 0 0 Penn National Gaming Inc. COM 707569109 305 10300 SH SOLE 10300 0 0 Penn R.E.I.T. SBI COM 709102107 6 500 SH SOLE 0 0 500 Pepco Holdings Inc COM 713291102 884 47500 SH SOLE 2900 0 44600 Pfizer Inc. COM 717081103 10618 618400 SH SOLE 334700 0 283700 Piedmont Natural Gas Co. COM 720186105 17 600 SH SOLE 600 0 0 Pinnacle West Capital COM 723484101 41 1000 SH SOLE 0 0 1000 Pitney Bowes Inc. COM 724479100 143 6700 SH SOLE 6700 0 0 Plum Creek Timber Co. COM 729251108 233 6600 SH SOLE 6600 0 0 Polaris Industries Inc COM 731068102 143 2200 SH SOLE 1600 0 600 Portland General Electric Co. COM 736508847 79 3900 SH SOLE 3400 0 500 Principal Financial Group COM 74251V102 765 29500 SH SOLE 10600 0 18900 Proassurance Corp COM 74267C106 23 400 SH SOLE 400 0 0 Procter & Gamble Co. COM 742718109 2513 41900 SH SOLE 23500 0 18400 Progress Energy Inc COM 743263105 1959 44100 SH SOLE 7400 0 36700 Progressive Corp. COM 743315103 1421 68100 SH SOLE 47900 0 20200 Prospect Capital Corporation COM 74348T102 36 3700 SH SOLE 1600 0 2100 Prosperity Bancshares Inc. COM 743606105 55 1700 SH SOLE 1400 0 300 Protective Life Corp. COM 743674103 1375 63200 SH SOLE 38800 0 24400 Prudential Financial Inc COM 744320102 7438 137283 SH SOLE 79783 0 57500 Public Service Enterprise Grp COM 744573106 1297 39200 SH SOLE 600 0 38600 Public Storage, Inc. COM 74460D109 378 3900 SH SOLE 3700 0 200 QEP Resources, Inc. COM 74733V100 42 1400 SH SOLE 1400 0 0 Quanex Building Products COM 747619104 206 11900 SH SOLE 11900 0 0 Questar Corporation COM 748356102 25 1400 SH SOLE 1400 0 0 RPM International, Inc. COM 749685103 209 10500 SH SOLE 10500 0 0 Rayonier Inc. COM 754907103 5699 113700 SH SOLE 57500 0 56200 Raytheon Company COM 755111507 1481 32408 SH SOLE 6208 0 26200 Realty Income Corp COM 756109104 3581 106200 SH SOLE 50500 0 55700 Regal Entertainment Group COM 758766109 953 72600 SH SOLE 39700 0 32900 Regions Financial Corp COM 7591EP100 9122 1254800 SH SOLE 370000 0 884800 Reinsurance Group of America COM 759351604 1144 23700 SH SOLE 9600 0 14100 Reliance Steel & Aluminum COM 759509102 610 14700 SH SOLE 9100 0 5600 Rent-A-Center Inc COM 76009N100 1542 68900 SH SOLE 37500 0 31400 Republic Services Inc. COM 760759100 73 2400 SH SOLE 0 0 2400 Rex Energy Corporation COM 761565100 83 6500 SH SOLE 6500 0 0 Rock-Tenn Co. COM 772739207 234 4700 SH SOLE 4700 0 0 Ross Stores Inc. COM 778296103 590 10800 SH SOLE 2200 0 8600 Royal Caribbean Cruises Ltd COM V7780T103 1346 42700 SH SOLE 20100 0 22600 SAIC, Inc. COM 78390X101 489 30600 SH SOLE 13700 0 16900 SLM Corporation COM 78442P106 2584 223700 SH SOLE 97600 0 126100 SPX Corporation COM 784635104 500 7900 SH SOLE 7900 0 0 SUPERVALU, Inc. COM 868536103 5654 490400 SH SOLE 280300 0 210100 SVB Financial Group COM 78486Q101 34 800 SH SOLE 800 0 0 Safeway Inc. COM 786514208 1198 56600 SH SOLE 56600 0 0 Scana Corporation COM 80589M102 28 700 SH SOLE 0 0 700 Scholastic Corporation COM 807066105 42 1500 SH SOLE 1500 0 0 Scotts Miracle-Gro Co COM 810186106 341 6600 SH SOLE 6600 0 0 Seagate Technology COM G7945J104 20 1700 SH SOLE 0 0 1700 Sears Holdings Corporation COM 812350106 50 700 SH SOLE 700 0 0 Sempra Energy COM 816851109 2260 42000 SH SOLE 10500 0 31500 Shaw Group Inc. COM 820280105 383 11400 SH SOLE 5300 0 6100 Sherwin-Williams Co. COM 824348106 98 1300 SH SOLE 1300 0 0 Shutterfly, Inc. COM 82568P304 5 200 SH SOLE 0 0 200 Silgan Holdings Inc. COM 827048109 171 5400 SH SOLE 5400 0 0 SkyWest Inc. COM 830879102 31 2200 SH SOLE 2200 0 0 Snap-On Inc. COM 833034101 893 19200 SH SOLE 4800 0 14400 Solarwinds, Inc. COM 83416B109 148 8600 SH SOLE 8600 0 0 Solutia Inc. COM 834376501 157 9800 SH SOLE 8000 0 1800 Sonoco Products Co. COM 835495102 144 4300 SH SOLE 4300 0 0 Southern Company COM 842587107 290 7800 SH SOLE 5600 0 2200 Southern Union Co COM 844030106 659 27400 SH SOLE 5500 0 21900 Southwest Gas Corporation COM 844895102 292 8700 SH SOLE 5100 0 3600 Southwestern Energy Co. COM 845467109 254 7600 SH SOLE 7600 0 0 Spectra Energy Corp COM 847560109 3065 135900 SH SOLE 98900 0 37000 StanCorp Financial Group COM 852891100 34 900 SH SOLE 600 0 300 Stanley Works COM 854616109 153 2500 SH SOLE 2500 0 0 State Street Corp COM 857477103 979 26000 SH SOLE 25500 0 500 Steris Corporation COM 859152100 402 12100 SH SOLE 12100 0 0 Stone Energy Corporation COM 861642106 289 19600 SH SOLE 19600 0 0 Strayer Education Inc COM 863236105 2199 12600 SH SOLE 1000 0 11600 Stryker Corporation COM 863667101 275 5500 SH SOLE 5100 0 400 SuccessFactors, Inc. COM 864596101 229 9100 SH SOLE 8600 0 500 SunTrust Banks, Inc. COM 867914103 14431 558700 SH SOLE 219600 0 339100 Sunoco Inc. COM 86764P109 2212 60600 SH SOLE 25000 0 35600 Sunstone Hotel Investors Inc. COM 867892101 213 23500 SH SOLE 22100 0 1400 Synopsys Inc. COM 871607107 604 24400 SH SOLE 24400 0 0 Sysco Corporation COM 871829107 224 7853 SH SOLE 7853 0 0 TAL International Group COM 874083108 46 1900 SH SOLE 300 0 1600 TFS Financial Corp. COM 87240R107 14 1500 SH SOLE 0 0 1500 TJX Companies Inc. COM 872540109 245 5500 SH SOLE 5500 0 0 TRW Automotive Hldgs Corp. COM 87264S106 133 3200 SH SOLE 3200 0 0 Target Corporation COM 87612E106 102 1900 SH SOLE 1900 0 0 Techne Corporation COM 878377100 648 10500 SH SOLE 5000 0 5500 Teekay Corporation COM Y8564W103 61 2300 SH SOLE 2300 0 0 Telephone & Data Systems COM 879433100 190 5800 SH SOLE 5600 0 200 Tempur-Pedic Intl Inc COM 88023U101 3968 128000 SH SOLE 57600 0 70400 Tenneco Inc. COM 880349105 4971 171600 SH SOLE 94500 0 77100 Tesoro Corp COM 881609101 480 35900 SH SOLE 35200 0 700 Texas Instruments, Inc. COM 882508104 141 5200 SH SOLE 5200 0 0 The Brinks Company COM 109696104 4216 183300 SH SOLE 102000 0 81300 The Travelers Companies COM 89417E109 5314 102004 SH SOLE 85304 0 16700 Time Warner Cable COM 88732J207 189 3500 SH SOLE 3500 0 0 Time Warner Inc COM 887317303 21869 713500 SH SOLE 297500 0 416000 Timken Company COM 887389104 399 10400 SH SOLE 10400 0 0 Torchmark Corp. COM 891027104 1371 25800 SH SOLE 9000 0 16800 Toro Company COM 891092108 11 200 SH SOLE 0 0 200 Transatlantic Holdings Inc COM 893521104 925 18200 SH SOLE 17700 0 500 Transdigm Group, Inc. COM 893641100 12242 197300 SH SOLE 96600 0 100700 Trinity Industries, Inc. COM 896522109 871 39100 SH SOLE 18400 0 20700 Triumph Group Inc. COM 896818101 306 4100 SH SOLE 3500 0 600 Trustmark Corporation COM 898402102 17 800 SH SOLE 500 0 300 Tupperware Brands Corp. COM 899896104 160 3500 SH SOLE 3500 0 0 Tyson Foods Inc COM 902494103 9212 575000 SH SOLE 388100 0 186900 U.S. Bancorp COM 902973304 4583 212000 SH SOLE 163200 0 48800 UGI Corporation COM 902681105 469 16400 SH SOLE 16400 0 0 UMB Financial Corp COM 902788108 7 200 SH SOLE 200 0 0 US Airways Group, Inc. COM 90341W108 11402 1232600 SH SOLE 630900 0 601700 UTi Worldwide Inc COM G87210103 437 27200 SH SOLE 800 0 26400 Ulta Salon, Cosmetics COM 90384S303 2584 88500 SH SOLE 39700 0 48800 Unisource Energy Corp COM 909205106 1110 33200 SH SOLE 16800 0 16400 United Parcel Service Inc. COM 911312106 180 2700 SH SOLE 0 0 2700 United Rentals Inc. COM 911363109 711 47900 SH SOLE 21900 0 26000 United States Steel Corp COM 912909108 798 18200 SH SOLE 4000 0 14200 United Stationers, Inc. COM 913004107 16 300 SH SOLE 0 0 300 UnitedHealth Group, Inc. COM 91324P102 6660 189700 SH SOLE 102200 0 87500 Unitrin Inc. COM 913275103 5 200 SH SOLE 0 0 200 Universal Technical Institute COM 913915104 16 800 SH SOLE 600 0 200 Unum Group COM 91529Y106 1923 86800 SH SOLE 39900 0 46900 V.F. Corporation COM 918204108 122 1500 SH SOLE 1500 0 0 VMware, Inc. Class A COM 928563402 2387 28100 SH SOLE 24300 0 3800 Valeant Pharm Intl COM 91911X104 410 16384 SH SOLE 16384 0 0 Valero Energy Corp. COM 91913Y100 2584 147600 SH SOLE 55400 0 92200 Valley National Bancorp COM 919794107 22 1741 SH SOLE 1300 0 441 Vectren Corporation COM 92240G101 859 33200 SH SOLE 21500 0 11700 Verifone Holdings, Inc COM 92342Y109 572 18400 SH SOLE 6500 0 11900 Verizon Communications, Inc. COM 92343V104 38493 1181125 SH SOLE 608325 0 572800 Virgin Media Inc. COM 92769L101 1501 65100 SH SOLE 63900 0 1200 Vornado Realty Trust COM 929042109 4639 54235 SH SOLE 23903 0 30332 W.R. Berkley Corp COM 084423102 72 2650 SH SOLE 2450 0 200 W.W. Grainger Inc. COM 384802104 5278 44310 SH SOLE 11610 0 32700 WGL Holdings Inc. COM 92924F106 23 600 SH SOLE 600 0 0 Waddell & Reed cl A COM 930059100 372 13600 SH SOLE 13600 0 0 Wal-Mart Stores, Inc. COM 931142103 13533 252853 SH SOLE 127153 0 125700 Washington Post cl B COM 939640108 80 200 SH SOLE 0 0 200 Waste Connections Inc COM 941053100 6127 154500 SH SOLE 85800 0 68700 Waste Management Inc. COM 94106L109 3174 88800 SH SOLE 16600 0 72200 Webster Financial Corp COM 947890109 11 600 SH SOLE 0 0 600 WellPoint, Inc. COM 94973V107 4673 82500 SH SOLE 51200 0 31300 Wells Fargo & Co COM 949746101 29556 1177052 SH SOLE 664252 0 512800 Werner Enterprises Inc. COM 950755108 1574 76800 SH SOLE 44300 0 32500 Westar Energy Inc COM 95709T100 1611 66500 SH SOLE 47800 0 18700 Western Digital Corp. COM 958102105 57 2000 SH SOLE 0 0 2000 Western Union COM 959802109 85 4800 SH SOLE 0 0 4800 Weyerhaeuser Co COM 962166104 4 261 SH SOLE 261 0 0 Whirlpool Corporation COM 963320106 559 6900 SH SOLE 6300 0 600 Williams Companies COM 969457100 11373 595153 SH SOLE 244953 0 350200 Wilmington Trust Corp COM 971807102 13 1500 SH SOLE 0 0 1500 Windstream Corporation COM 97381W104 29209 2378600 SH SOLE 1139000 0 1239600 Wisconsin Energy Corp COM 976657106 630 10900 SH SOLE 600 0 10300 World Acceptance Corp COM 981419104 22 500 SH SOLE 0 0 500 Xcel Energy Inc COM 98389B100 2586 112600 SH SOLE 92200 0 20400 Xerox Corporation COM 984121103 1522 147100 SH SOLE 80200 0 66900 Xilinx Inc. COM 983919101 687 25800 SH SOLE 25800 0 0 Yum! Brands, Inc. COM 988498101 4311 93600 SH SOLE 91600 0 2000 Zimmer Holdings Inc COM 98956P102 1926 36800 SH SOLE 15400 0 21400 hhgregg, Inc. COM 42833L108 557 22500 SH SOLE 16300 0 6200
-----END PRIVACY-ENHANCED MESSAGE-----