13F-HR 1 icm033107hr13f.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, 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: Investment Counselors of Maryland, LLC Address: 803 Cathedral Street Baltimore, Maryland 21201-5297 Form 13F File Number: 028-00880 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: Linda Rosatelli Title: Chief Compliance Officer Phone: 410-539-3838 Signature, Place, and Date of Signing: /s/Linda Rosatelli Baltimore, Maryland May 9, 2007 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: 1 Form 13F Information Table Entry Total: 239 Form 13F Information Table Value Total: 2786688 (thousands) List of Other Included Managers: No. Form 13F File Number Name 01 028-11931 Old Mutual (US) Holdings Inc. 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 4KIDS ENTERTAINMENT INC. COM 350865101 8183 432500 SH Defined 01 349300 83200 ACTUANT CORP COM 00508X203 7550 148600 SH Defined 01 121000 27600 ACUITY BRANDS INC. COM 00508y102 17127 314600 SH Defined 01 250700 63900 ADAPTEC INC COM 00651f108 12819 3312300 SH Defined 01 2700200 612100 ALBANY INTL CORP CL A COM 012348108 25521 710100 SH Defined 01 579200 130900 AMERICAN INTL GROUP INC COM 026874107 6170 91794 SH Defined 01 90394 1400 74 1100 SH Other 01 1100 AMERICAN WOODMARK CORP. COM 030506109 4008 109025 SH Defined 01 88625 20400 AMERISTAR CASINOS INC. 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