13F-HR 1 edgar3-08.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended March 31, 2008 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: DeRoy & Devereaux Private Investment Counsel, Inc Address: 26777 Central Park Blvd Suite 180 Southfield, MI 48076 13F File Number: 28-10694 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 submission. Person Signing this Report on Behalf of Reporting Manager: Name: Gregg D. Watkins Title: President Phone: 248-358-3220 Signature, Place, and Date of Signing: /s/ Gregg D. Watkins Southfield, MI 48076 April 23, 2008 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 146 Form 13F Information Table Value Total: $313,073 thousand 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 Horizon National Corp COM 320517105 147 10500 SH SOLE 10500 ACE Limited COM G0070K103 413 7500 SH SOLE 7500 AGL Resources Inc COM 001204106 424 12350 SH SOLE 12350 AT&T Inc Com COM 00206R102 9649 251929 SH SOLE 70400 181529 Abbott Laboratories COM 002824100 6461 117148 SH SOLE 25100 92048 Agilent Technologies Inc COM 00846U101 4052 135847 SH SOLE 31700 104147 Air Products & Chemicals COM 009158106 571 6203 SH SOLE 6203 Alcoa Inc COM 013817101 1346 37324 SH SOLE 37324 Alliance Bernstein Holdings LP COM 01881G106 564 8900 SH SOLE 8900 Allstate Corporation COM 020002101 8018 166842 SH SOLE 49300 117542 Altria Group Inc COM 02209S103 688 30973 SH SOLE 12300 18673 Apache Corporation COM 037411105 804 6652 SH SOLE 6652 Applied Materials COM 038222105 5726 293473 SH SOLE 72000 221473 Automatic Data Process COM 053015103 305 7200 SH SOLE 7200 Avery Dennison CP COM 053611109 637 12925 SH SOLE 7400 5525 BJ Services Co COM 055482103 390 13680 SH SOLE 13680 BP PLC ADS COM 055622104 1186 19559 SH SOLE 19559 Baldor Electric Company COM 057741100 252 9000 SH SOLE 9000 Bank of America Corp COM 060505104 468 12343 SH SOLE 12343 Baxter International COM 071813109 260 4500 SH SOLE 4500 Belden Inc COM 077454106 3465 98110 SH SOLE 28600 69510 Berkshire Hathaway Cl A COM 084670108 1201 9 SH SOLE 9 Boeing Company COM 097023105 218 2925 SH SOLE 2925 Briggs & Stratton Corp COM 109043109 2986 166825 SH SOLE 54800 112025 Brooks Automation Inc COM 114340102 4463 459150 SH SOLE 171300 287850 Brunswick Corporation COM 117043109 3543 221875 SH SOLE 79600 142275 CGX Energy Inc COM 125405100 115 40000 SH SOLE 40000 Carlisle Companies COM 142339100 415 12400 SH SOLE 600 11800 Caterpillar Inc COM 149123101 313 4000 SH SOLE 4000 Chemical Financial Corp COM 163731102 316 13250 SH SOLE 13250 ChevronTexaco Corp COM 166764100 2677 31358 SH SOLE 12028 19330 Chubb Corp COM 171232101 626 12650 SH SOLE 7000 5650 Cisco Systems Inc COM 17275R102 273 11336 SH SOLE 11336 Citigroup Inc COM 172967101 212 9914 SH SOLE 9914 Citizens Republic Bancorp COM 174420109 158 12675 SH SOLE 12675 Coach Inc COM 189754104 357 11848 SH SOLE 11848 Coca-Cola Company COM 191216100 849 13942 SH SOLE 6500 7442 Colgate-Palmolive Co COM 194162103 360 4625 SH SOLE 4625 Comerica Incorporated COM 200340107 5334 152049 SH SOLE 60000 92049 ConocoPhillips COM 20825C104 5501 72185 SH SOLE 24522 47663 Constellation Brands Inc COM 21036P108 276 15600 SH SOLE 15600 Convergys Corporation COM 212485106 301 20000 SH SOLE 20000 Covidien Ltd COM G2552X108 4830 109152 SH SOLE 24250 84902 D R Horton Inc COM 23331A109 1939 123100 SH SOLE 78900 44200 DST Systems Inc COM 233326107 1431 21765 SH SOLE 7900 13865 Deere & Company COM 244199105 221 2750 SH SOLE 2750 Devon Energy Corp COM 25179M103 1071 10264 SH SOLE 10264 Eaton Corporation COM 278058102 654 8212 SH SOLE 8212 Eli Lilly & Co COM 532457108 6530 126575 SH SOLE 36500 90075 Emerson Electric Co COM 291011104 373 7250 SH SOLE 7250 Enbridge Energy Partners COM 29250R106 220 4625 SH SOLE 4625 Energen Corp COM 29265N108 213 3425 SH SOLE 3425 Erie Indemnity Co Cl A COM 29530P102 205 4000 SH SOLE 4000 Esterline Technologies COM 297425100 479 9500 SH SOLE 9500 Exxon Mobil Corporation COM 30231G102 6690 79098 SH SOLE 79098 FPL Group Inc COM 302571104 1013 16150 SH SOLE 16150 FirstMerit Corp COM 337915102 496 24000 SH SOLE 24000 Genentech Inc COM 368710406 270 3331 SH SOLE 3331 General Cable COM 369300108 3423 57950 SH SOLE 18200 39750 General Dynamics COM 369550108 669 8030 SH SOLE 8030 General Electric Co COM 369604103 1429 38610 SH SOLE 38610 General Mills COM 370334104 249 4152 SH SOLE 4152 Genuine Parts Company COM 372460105 280 6970 SH SOLE 6970 Glaxo Smithkline ADS COM 37733W105 342 8063 SH SOLE 8063 HCP Inc Com COM 40414L109 696 20600 SH SOLE 20600 Halliburton Company COM 406216101 5562 141410 SH SOLE 42900 98510 Harris Corporation COM 413875105 1616 33300 SH SOLE 18900 14400 Harte-Hanks Inc COM 416196103 450 32900 SH SOLE 25200 7700 Hewlett-Packard Co COM 428236103 4943 108259 SH SOLE 32750 75509 Hugoton Royalty Tr COM 444717102 221 8000 SH SOLE 8000 Huntington Bancshares COM 446150104 157 14640 SH SOLE 800 13840 IBM Corp COM 459200101 533 4630 SH SOLE 4630 Illinois Tool Works COM 452308109 2532 52490 SH SOLE 52490 Intel Corporation COM 458140100 646 30492 SH SOLE 30492 International Paper COM 460146103 5047 185555 SH SOLE 57200 128355 Ishare SP 500 Barra Growth COM 464287309 1850 29500 SH SOLE 29500 Ishare SPMC 400 Barra Growth COM 464287606 323 3960 SH SOLE 3960 Ishares MSCI E.M.I.F COM 464287234 235 1751 SH SOLE 1751 Ishares MSCI EAFE Fd COM 464287465 852 11850 SH SOLE 11850 Ishares Russell 1000 Value Ind COM 464287598 646 8800 SH SOLE 8800 Ishares Tr FTSE/Xinhua China 2 COM 464287184 203 1500 SH SOLE 1500 JPMorgan Chase & Co COM 46625H100 2248 52340 SH SOLE 7300 45040 Johnson & Johnson COM 478160104 1570 24197 SH SOLE 5000 19197 Kimberly-Clark Corp COM 494368103 450 6975 SH SOLE 6975 Kohls Corporation COM 500255104 237 5536 SH SOLE 5000 536 Koninkl Phil E NY Sh New COM 500472303 301 7853 SH SOLE 7853 Leggett & Platt Inc COM 524660107 5843 383150 SH SOLE 124200 258950 Lehman Brothers Holdings COM 524908100 2678 71150 SH SOLE 23700 47450 Lincoln National Corp COM 534187109 5687 109373 SH SOLE 32600 76773 Lufkin Industries Inc COM 549764108 239 3750 SH SOLE 3750 MDU Resources Group COM 552690109 1727 70350 SH SOLE 70350 Marathon Oil Corp COM 565849106 3795 83225 SH SOLE 28100 55125 McClatchy Co COM 579489105 509 47603 SH SOLE 16003 31600 McDonalds Corporation COM 580135101 3950 70834 SH SOLE 23200 47634 McGraw-Hill Companies COM 580645109 3375 91350 SH SOLE 25500 65850 McKesson Corp COM 58155Q103 7143 136403 SH SOLE 30000 106403 Medtronic Inc COM 585055106 5070 104827 SH SOLE 26900 77927 Mens Wearhouse Inc COM 587118100 2372 101950 SH SOLE 32500 69450 Microsoft Corporation COM 594918104 6740 237479 SH SOLE 48200 189279 Morgan Stanley COM 617446448 1336 29235 SH SOLE 29235 Motorola Inc COM 620076109 3771 405474 SH SOLE 134800 270674 National City Corp COM 635405103 1779 178796 SH SOLE 99700 79096 Nestle S A Rep RG Sh ADR COM 641069406 238 1900 SH SOLE 1900 NeuStar Inc COM 64126X201 207 7800 SH SOLE 7800 Newell Rubbermaid Inc COM 651229106 297 13000 SH SOLE 13000 News Corp Class A COM 65248E104 6576 350700 SH SOLE 91000 259700 Norfolk Southern Corp COM 655844108 1073 19745 SH SOLE 19745 PNC Financial Services COM 693475105 3200 48802 SH SOLE 13900 34902 PNM Resources Inc COM 69349H107 5585 447898 SH SOLE 156200 291698 Pall Corporation COM 696429307 302 8600 SH SOLE 8600 Paychex Inc COM 704326107 308 9000 SH SOLE 9000 PepsiCo Inc COM 713448108 744 10300 SH SOLE 6000 4300 Pfizer Inc COM 717081103 563 26910 SH SOLE 10000 16910 Philip Morris International In COM 718172109 1567 30973 SH SOLE 12300 18673 Pilgrims Pride COM 721467108 5152 254674 SH SOLE 70000 184674 Praxair Inc COM 74005P104 2307 27393 SH SOLE 4800 22593 Procter & Gamble Co COM 742718109 1364 19461 SH SOLE 19461 Progressive Corp COM 743315103 211 13120 SH SOLE 13120 Pulte Corporation COM 745867101 2340 160800 SH SOLE 160800 Raytheon Company COM 755111507 4878 75502 SH SOLE 20500 55002 Regenerx Biopharmaceuticals In COM 75886X108 31 33000 SH SOLE 33000 Royal Dutch Shell PLC When Iss COM 780259206 793 11496 SH SOLE 11496 Rydex ETF Trust COM 78355W106 330 7700 SH SOLE 7700 Saga Communications COM 786598102 1002 178956 SH SOLE 45881 133075 Schlumberger Ltd COM 806857108 447 5137 SH SOLE 5137 Sovereign Bancorp Inc COM 845905108 3786 406216 SH SOLE 138200 268016 Sprint Nextel COM 852061100 4008 599109 SH SOLE 226600 372509 Stanley Works COM 854616109 4720 99125 SH SOLE 34050 65075 Stryker Corporation COM 863667101 1576 24232 SH SOLE 24232 SunTrust Banks Inc COM 867914103 3941 71470 SH SOLE 19700 51770 TJX Companies Inc COM 872540109 5839 176550 SH SOLE 37900 138650 Target Corporation COM 87612E106 632 12474 SH SOLE 12474 Texas Instruments COM 882508104 544 19227 SH SOLE 19227 Time Warner Inc COM 887317105 6305 449700 SH SOLE 130800 318900 Transocean (New) COM G90073100 1604 11865 SH SOLE 11865 Tyco International Ltd COM G9143X208 4884 110874 SH SOLE 31600 79274 U S Bancorp COM 902973304 5260 162535 SH SOLE 40200 122335 United Parcel Srvc B COM 911312106 445 6100 SH SOLE 6000 100 Vishay Intertechnology Inc COM 928298108 6424 709050 SH SOLE 227300 481750 Waddell & Reed Cl A COM 930059100 6383 198655 SH SOLE 37800 160855 Wal-Mart Stores Inc COM 931142103 306 5809 SH SOLE 5809 Walt Disney Company COM 254687106 6514 207590 SH SOLE 56100 151490 Washington REIT COM 939653101 2426 72600 SH SOLE 23600 49000 Waste Management Inc COM 94106L109 3676 109540 SH SOLE 31200 78340 Wells Fargo & Co COM 949746101 639 21971 SH SOLE 21971 Wyeth COM 983024100 6967 166834 SH SOLE 48200 118634