13F-HR 1 s13f0406.txt 4TH QTR 06 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2006 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: Stifel, Nicolaus & Company, Incorporated Address: One Financial Plaza, 501 N. Broadway St. Louis, Missouri 63102 13F File Number: The institutional investment manager filing this report & 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: Scott McCuaig Title: President, Private Client Group & Chief Operating Officer Phone: (314) 342-2844 Signature, Place, and Date of Signing: Scott McCuaig St. Louis, Missouri February 14, 2007 Report Type: (Check only one): [X] 13F Holdings Report [ ] 13F Notice [ ] 13F Combination Report List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. PORTVUE-SEC13F.LNP STIFEL NICOLAUS & CO., INC. PAGE 1 RUN DATE: 01/18/07 11:41 A.M. FORM 13F INFORMATION TABLE AS OF DATE: 12/31/06 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M COMPANY COM COM 88579Y101 721 9250 SH SOLE 7774 0 1476 A D C TELECOMMUNICATIONS NEW COM 000886309 927 63812 SH SOLE 63069 0 743 A T & T INC (NEW) COM 00206R102 1159 32419 SH SOLE 30343 0 2076 ABBOTT LABS COM 002824100 4566 93743 SH SOLE 81814 0 11929 ABX AIR INC COM COM 00080S101 427 61675 SH SOLE 59675 0 2000 ADVANCED MICRO DEVICES COM 007903107 868 42636 SH SOLE 42168 0 468 AER ENERGY RES INC COM 000944108 0 40909 SH SOLE 40909 0 0 AETNA U S HEALTHCARE INC COM COM 00817Y108 315 7296 SH SOLE 6817 0 479 AFLAC INC COM 001055102 1206 26219 SH SOLE 22259 0 3960 AGL RES INC COM COM 001204106 2194 56380 SH SOLE 54623 0 1757 AIR NEW ZEALAND SHS FRN Q0169V100 20 15000 SH SOLE 15000 0 0 AKAMAI TECHNOLOGIES INC COM COM 00971T101 528 9941 SH SOLE 9476 0 465 ALLIANCE DATA SYS CORP COM COM 018581108 517 8274 SH SOLE 7619 0 655 ALLIANT CORP COM COM 018802108 346 9169 SH SOLE 9169 0 0 ALLSTATE CORP COM 020002101 2205 33862 SH SOLE 30205 0 3657 ALLTEL CORP COM 020039103 795 13147 SH SOLE 10091 0 3056 ALTERA CORP COM 021441100 619 31433 SH SOLE 2433 0 29000 ALTRIA GROUP INC COM COM 02209S103 7140 83197 SH SOLE 66686 0 16511 ALUMINUM CORP CHINA LTD SPON A FRN 022276109 227 9670 SH SOLE 9670 0 0 AMAZON COM INC COM COM 023135106 817 20702 SH SOLE 20702 0 0 AMERICAN ELECTRIC POWER COM 025537101 260 6096 SH SOLE 4141 0 1955 AMERICAN EXPRESS CO COM 025816109 1976 32567 SH SOLE 21012 0 11555 AMERICAN INTL GROUP INC COM 026874107 4039 56361 SH SOLE 49777 0 6584 AMERICAN PWR CONVERSION CORP COM 029066107 1704 55689 SH SOLE 46709 0 8980 AMERICAN RESIDENTIAL FDG INCCO COM 02927A103 1 100000 SH SOLE 100000 0 0 AMERICAN STD COS INC DEL COM COM 029712106 510 11127 SH SOLE 11056 0 71 AMERICAN TOWER CORP CL A COM 029912201 298 8002 SH SOLE 6902 0 1100 AMERICREDIT CORP COM COM 03060R101 371 14733 SH SOLE 14473 0 260 AMERIPRISE FINL INC COM COM 03076C106 298 5477 SH SOLE 4542 0 935 AMGEN INC COM 031162100 1418 20752 SH SOLE 20252 0 500 AMPCO-PITTSBURG CORP COM COM 032037103 426 12724 SH SOLE 12197 0 527 AMPHENOL CORP NEW CL A COM 032095101 648 10436 SH SOLE 7036 0 3400 ANADARKO PETE CORP COM 032511107 1137 26134 SH SOLE 22999 0 3135 ANCHOR BANCORP WIS INC COM COM 032839102 279 9672 SH SOLE 9672 0 0 ANGLO AMERICAN FRN 03485P102 11509 471482 SH SOLE 426732 0 44750 ANHEUSER BUSCH COS INC COM 035229103 2756 56025 SH SOLE 51490 0 4535 APACHE CORP COM 037411105 1371 20610 SH SOLE 19035 0 1575 APOLLO GROUP INC CL A COM 037604105 694 17810 SH SOLE 17615 0 195 APPLE COMPUTER INC COM 037833100 1148 13529 SH SOLE 11865 0 1664 APPLIED MATLS INC COM 038222105 686 37159 SH SOLE 35710 0 1449 AQUILA INC COM 03840P102 725 154300 SH SOLE 119700 0 34600 ARCHER DANIELS MIDLAND COM 039483102 1425 44586 SH SOLE 43211 0 1375 ARTISTIC MEDIA PARTNERS INC CL COM BT1218338 79 11700 SH SOLE 11700 0 0 ASH GROVE CEM CO COM COM 043693100 1658 7820 SH SOLE 7530 0 290 ASSOCIATED BANC CORP COM COM 045487105 366 10490 SH SOLE 10490 0 0 ATMEL CORP COM COM 049513104 108 17823 SH SOLE 17823 0 0 AUTOMATIC DATA PROCESSING COM 053015103 1046 21244 SH SOLE 20606 0 638 AVALON VENTURES LTD COM FRN 05348K105 9 10000 SH SOLE 10000 0 0 AXA-UAP SPONSORED ADR FRN 054536107 595 14741 SH SOLE 14540 0 201 BAKER HUGHES INC COM COM 057224107 1490 19960 SH SOLE 19038 0 922 BANK AMERICA CORP COM 060505104 2964 55517 SH SOLE 43012 0 12505 BECTON DICKINSON & CO COM 075887109 419 5977 SH SOLE 5577 0 400 BED BATH & BEYOND INC COM COM 075896100 347 9114 SH SOLE 8580 0 534 BEHAVIORAL RECOGNITION SYSTEM COM BT1308596 50 50000 SH SOLE 50000 0 0 BENCHMARK ELECTRS INC COM COM 08160H101 367 15068 SH SOLE 14803 0 265 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 2420 22 SH SOLE 20 0 2 BERKSHIRE HATHAWAY INC DEL CL COM 084670207 10477 2858 SH SOLE 2424 0 434 BIOMET INC COM 090613100 714 17303 SH SOLE 14603 0 2700 BJ SVCS CO COM COM 055482103 710 24205 SH SOLE 23961 0 244 BOEING CO COM 097023105 1949 21936 SH SOLE 18400 0 3536 BOSTON PPTYS INC COM COM 101121101 215 1925 SH SOLE 1525 0 400 BP AMOCO ADS FRN 055622104 5414 80688 SH SOLE 78873 0 1815 BP PRUDHOE BAY RTY TR UNIT BEN COM 055630107 223 2900 SH SOLE 2600 0 300 BRISTOL MYERS SQUIBB CO COM 110122108 4021 152759 SH SOLE 149706 0 3053 BUNGE LIMITED COM FRN G16962105 5203 71760 SH SOLE 64760 0 7000 BURLINGTON NTHN SANTA FE COM 12189T104 760 10300 SH SOLE 9165 0 1135 CABLEVISION SYS CORP COM 12686C109 5718 200760 SH SOLE 181544 0 19216 CACI INTL INC CL A COM 127190304 283 5000 SH SOLE 5000 0 0 CAMPBELL FUND TRUST LTD PA COM BT3889840 1655 621 SH SOLE 516 0 105 CANADIAN APT PPTYS REAL ESTATR FRN 134921105 890 56100 SH SOLE 51475 0 4625 CANADIAN NAT RES LTD COM FRN 136385101 18247 342791 SH SOLE 292741 0 50050 CANADIAN NATL RY CO FRN 136375102 1061 24659 SH SOLE 22540 0 2119 CANADIAN PAC RY LTD FRN 13645T100 2531 47965 SH SOLE 46065 0 1900 CARNIVAL PAIRED CERTIFICATES COM 143658300 205 4173 SH SOLE 3803 0 370 CARPENTER TECHNOLOGY CORP COM COM 144285103 443 4325 SH SOLE 4023 0 302 CASH AMER INTL INC COM COM 14754D100 414 8837 SH SOLE 8837 0 0 CATALYST PAPER CORP COM FRN 14888T104 687 223800 SH SOLE 187800 0 36000 CATERPILLAR INC COM 149123101 2879 46947 SH SOLE 38963 0 7984 CEDAR FAIR L P DEP UNITS COM 150185106 1047 37632 SH SOLE 32907 0 4725 CELGENE CORP COM COM 151020104 870 15130 SH SOLE 11940 0 3190 CELLSTAR CORP COM NEW COM 150925204 36 12000 SH SOLE 12000 0 0 CEMEX S A ADR SPSRD NEW FRN 151290889 266 7860 SH SOLE 5724 0 2136 CENTERPOINT ENERGY INC COM COM 15189T107 13160 793713 SH SOLE 714227 0 79486 CENTURYTEL, INC COM 156700106 1007 23068 SH SOLE 22251 0 817 CHAPARRAL STL CO DEL COM COM 159423102 286 6450 SH SOLE 6450 0 0 CHEVRONTEXACO CORPORATION COM 166764100 4056 55165 SH SOLE 48220 0 6945 CHICAGO BRIDGE & IRON CO N Y R FRN 167250109 1152 42127 SH SOLE 38284 0 3843 CHICAGO MERCANTILE EXCHANGE CL COM 167760107 386 758 SH SOLE 758 0 0 CHICOS FAS INC COM COM 168615102 376 18180 SH SOLE 15930 0 2250 CHINA LIFE INS CO LTD SPON ADR FRN 16939P106 1740 34451 SH SOLE 34171 0 280 CHUBB CORP COM COM 171232101 400 7561 SH SOLE 6878 0 683 CINCINNATI BELL INC NEW COM COM 171871106 58 12600 SH SOLE 12600 0 0 CINCINNATI FINL CORP COM COM 172062101 711 15700 SH SOLE 15700 0 0 CIRCUIT CITY STORES INC COM 172737108 1107 58325 SH SOLE 57552 0 773 CISCO SYS INC COM 17275R102 3437 125754 SH SOLE 104910 0 20844 CITIGROUP INC. COM 172967101 2484 44599 SH SOLE 38137 0 6462 CITIZENS COMMUNICATIONS CO COM COM 17453B101 12374 861099 SH SOLE 768424 0 92675 CLEAN HARBORS INC COM COM 184496107 439 9075 SH SOLE 8250 0 825 CMS ENERGY CORP COM 125896100 12085 723644 SH SOLE 661050 0 62594 COACH INC COM COM 189754104 306 7129 SH SOLE 6759 0 370 COCA COLA CO COM 191216100 2647 54854 SH SOLE 45482 0 9371 COGNIZANT TECHNLGY SLTNS CORCL COM 192446102 523 6779 SH SOLE 5336 0 1443 COLGATE PALMOLIVE CO COM 194162103 1282 19643 SH SOLE 15843 0 3800 COLONIAL CAPITAL TR IV 7.875% RFD 19560Q203 262 10260 SH SOLE 5900 0 4360 COMCAST CORP CL A SPL COM 20030N200 1098 26226 SH SOLE 23056 0 3170 COMCAST CORP NEW COM CL A COM 20030N101 225 5318 SH SOLE 5318 0 0 COMMSCOPE INC COM COM 203372107 1148 37674 SH SOLE 34404 0 3270 COMMUNITY BANKSHARES INC COLCD COM 20364D109 1160 29000 SH SOLE 29000 0 0 CONAGRA INC COM 205887102 492 18210 SH SOLE 14410 0 3800 CONOCOPHILLIPS COM COM 20825C104 2573 35763 SH SOLE 23599 0 12164 CONSOL ENERGY INC COM COM 20854P109 233 7242 SH SOLE 6892 0 350 CONSTELLATION ENERGY GROUP ICO COM 210371100 275 4000 SH SOLE 4000 0 0 CORNING INC COM 219350105 2027 108350 SH SOLE 96850 0 11500 COSTCO WHOLESALE CORP COM 22160K105 621 11751 SH SOLE 11605 0 146 COVENTRY HEALTH CARE INC COM COM 222862104 1053 21047 SH SOLE 19445 0 1602 CUMMINS ENGINE INC COM 231021106 231 1955 SH SOLE 1955 0 0 CUNDILL GLOBAL VALUE LIMITE COM BT3888151 3864 3864315 SH SOLE 2927728 0 936587 CVS CORP COM 126650100 953 30822 SH SOLE 29550 0 1272 D & E COMMUNICATIONS INC COM COM 232860106 1774 140265 SH SOLE 126515 0 13750 DEERE & CO. COM 244199105 2735 28768 SH SOLE 26218 0 2550 DELTIC TIMBER CORP COM COM 247850100 307 5500 SH SOLE 5500 0 0 DEUTSCHE TELEKOM AG ADR SPONSO FRN 251566105 2055 112913 SH SOLE 109182 0 3731 DEVON ENERGY CORP NEW COM COM 25179M103 560 8350 SH SOLE 7245 0 1105 DIAGEO PLC NEW SPN ADR E FRN 25243Q205 1344 16949 SH SOLE 15699 0 1250 DIAMOND OFFSHORE DRILLNG INCCO COM 25271C102 495 6193 SH SOLE 6093 0 100 DISCOVERY HOLDING CO CL A COM COM 25468Y107 169 10533 SH SOLE 10142 0 391 DOMINION RES INC VA NEW COM COM 25746U109 357 4255 SH SOLE 4255 0 0 DONNELLEY R R & SONS CO COM COM 257867101 327 9202 SH SOLE 7552 0 1650 DOW CHEMICAL CORP COM 260543103 486 12181 SH SOLE 9006 0 3175 DREMAN/CLAYMORE DIVID & INCOME PFD 26153R209 475 19 SH SOLE 18 0 1 DU PONT E I DE NEMOURS CO COM 263534109 3412 70056 SH SOLE 67335 0 2721 DUKE ENERGY CORP COM 26441C105 1785 53751 SH SOLE 53751 0 0 DUKE RLTY INVTS INC COM NEW COM 264411505 716 17507 SH SOLE 14267 0 3240 DUN & BRADSTREET CORP DEL NECO COM 26483E100 317 3825 SH SOLE 3825 0 0 DUNDEE PRECIOUS METALS INC COM FRN 265269209 4323 434050 SH SOLE 385800 0 48250 E M C CORP MASS COM COM 268648102 465 35219 SH SOLE 32687 0 2532 E TRADE GROUP INC COM COM 269246104 295 13154 SH SOLE 12110 0 1044 EAGLE MATLS INC COM COM 26969P108 613 14170 SH SOLE 13963 0 207 EATON CORP COM 278058102 1179 15695 SH SOLE 15645 0 50 EBAY INC COM COM 278642103 560 18624 SH SOLE 13327 0 5297 ECHOSTAR COMMUN CORP NEW CL A COM 278762109 989 26000 SH SOLE 20700 0 5300 ECOLAB INC COM 278865100 222 4916 SH SOLE 4091 0 825 EDISON INTERNATIONAL COM 281020107 2046 44996 SH SOLE 40061 0 4935 EL PASO CORPORATION COM 28336L109 5832 381644 SH SOLE 346594 0 35050 EL PASO ELEC CO COM NEW COM 283677854 346 14193 SH SOLE 12193 0 2000 EMERSON ELEC CO COM 291011104 4877 110623 SH SOLE 93000 0 17623 EMMIS COMMUNICATIONS CORP CL A COM 291525103 145 17600 SH SOLE 17600 0 0 EMPIRE RESORTS INC COM COM 292052107 100 11588 SH SOLE 11588 0 0 EMULEX CORP COM NEW COM 292475209 257 13185 SH SOLE 12217 0 968 ENCANA CORP COM FRN 292505104 2262 49233 SH SOLE 37383 0 11850 ENERGY EAST CORP COM COM 29266M109 1937 78110 SH SOLE 75279 0 2831 ENERGY METALS CORP COM FRN 29271B106 225 26125 SH SOLE 24325 0 1800 ENERPLUS RES FD TR UNIT NEW FRN 29274D604 208 4775 SH SOLE 4025 0 750 ENTERPRISE FINL SVCS CORP COM COM 293712105 1026 31477 SH SOLE 29327 0 2150 ENVIRONMENTAL SOLUTIONS WRLDCO COM 29408K102 8 11750 SH SOLE 11750 0 0 EXELON CORP COM COM 30161N101 790 12769 SH SOLE 12311 0 458 EXXON CORPORATION COM 30231G102 8776 114521 SH SOLE 101730 0 12791 EZCORP INC CL A NON VTG COM 302301106 187 11532 SH SOLE 11532 0 0 FACTSET RESH SYS INC COM COM 303075105 648 11466 SH SOLE 10266 0 1200 FAIRFAX FINL HLDGS LTD SUB VTG FRN 303901102 223 1125 SH SOLE 1125 0 0 FARMERS BANCRP FRANKFORT INDCD COM 30887A102 538 13406 SH SOLE 11373 0 2033 FEDERATED DEPARTMENT STORES NE COM 31410H101 385 10102 SH SOLE 9254 0 848 FEDEX CORP COM 31428X106 450 4147 SH SOLE 3572 0 575 FIDELITY NATL TITLE GROUP INCO COM 31620R105 597 25017 SH SOLE 22991 0 2026 FIFTH THIRD BANCORP COM COM 316773100 522 12750 SH SOLE 12750 0 0 FINANCIAL STOCKS CAPITA COM BT3889270 1551 1551244 SH SOLE 1073938 0 477306 FINANCIAL STOCKS CAPITALPARTNE COM BT3889517 175 174864 SH SOLE 174864 0 0 FINANCIAL STOCKS CAPITALPARTNE COM BT3889516 528 528268 SH SOLE 528268 0 0 FINANCIAL STOCKS CLASS ALTD PA COM BT3889239 3086 3086398 SH SOLE 2787619 0 298779 FIRST DATA CORP COM 319963104 650 25478 SH SOLE 22050 0 3428 FIRST FINL CORP IND COM COM 320218100 436 12302 SH SOLE 12302 0 0 FIRST IND CORP COM COM 32054R108 4022 158600 SH SOLE 146721 0 11879 FIRST INTERNET BANCORP COM 320557101 1891 117109 SH SOLE 99609 0 17500 FIRST MARBLEHEAD CORP COM COM 320771108 833 15239 SH SOLE 15061 0 178 FIRSTENERGY CORP COM COM 337932107 6190 102656 SH SOLE 93856 0 8800 FIRSTFED FINL CORP DEL COM COM 337907109 375 5599 SH SOLE 5501 0 98 FIRSTMERIT CORP COM COM 337915102 3481 144182 SH SOLE 92319 0 51863 FISERV INC COM COM 337738108 283 5406 SH SOLE 5056 0 350 FLORIDA ROCK INDS INC COM COM 341140101 6558 152334 SH SOLE 130967 0 21367 FOSTER WHEELER LTD SHS NEW FRN G36535139 2129 38616 SH SOLE 34523 0 4093 FPL GROUP INC COM COM 302571104 813 14937 SH SOLE 12280 0 2657 FRANKLIN ELEC INC COM COM 353514102 581 11300 SH SOLE 11300 0 0 FREEPORT MCMORAN COPPER & GOLD COM 35671D857 1291 23161 SH SOLE 21268 0 1893 FURNITURE BRANDS INTL INC COM COM 360921100 1779 109591 SH SOLE 105472 0 4119 GANNETT INC DEL COM 364730101 404 6676 SH SOLE 6295 0 381 GAZPROM O A O SPONS ADR REG S FRN 368287207 713 15375 SH SOLE 12725 0 2650 GENENTECH INC COM NEW COM 368710406 397 4893 SH SOLE 3530 0 1363 GENERAL CABLE CORP DEL NEW COM COM 369300108 483 11050 SH SOLE 7550 0 3500 GENERAL DYNAMICS CORP COM COM 369550108 281 3786 SH SOLE 3120 0 666 GENERAL ELEC CO COM 369604103 7239 194543 SH SOLE 166352 0 28191 GENERAL MTRS CORP COM 370442105 1459 47480 SH SOLE 45688 0 1792 GENUINE PARTS CO COM 372460105 2248 47386 SH SOLE 44404 0 2982 GERMAN AMERN BANCORP COM COM 373865104 185 12859 SH SOLE 12859 0 0 GILEAD SCIENCES INC COM COM 375558103 442 6812 SH SOLE 6812 0 0 GLOBAL SANTAFE CORPORATION COM G3930E101 9919 168748 SH SOLE 143486 0 25262 GOLDCORP INC NEW FRN 380956409 1035 36377 SH SOLE 35527 0 850 GOLDMAN SACHS GROUP INC COM COM 38141G104 625 3135 SH SOLE 3066 0 69 GRANT PRIDECO INC COM COM 38821G101 1152 28957 SH SOLE 26052 0 2905 GREENFIELD ONLINE INC COM COM 395150105 167 11646 SH SOLE 11646 0 0 GROUPE BRUXELLES LAMBERT FRN B4746J115 7897 65261 SH SOLE 55153 0 10108 HALLIBURTON COMPANY COM 406216101 1209 38931 SH SOLE 38381 0 550 HANMI FINL CORP COM COM 410495105 491 21785 SH SOLE 15985 0 5800 HARLEY DAVIDSON INC COM 412822108 298 4225 SH SOLE 4225 0 0 HARRAH'S ENTERTAINMENT COM 413619107 466 5634 SH SOLE 5634 0 0 HARTFORD FINL SVCS GROUP COM 416515104 524 5612 SH SOLE 5354 0 258 HEINEKEN N V ADR FRN 423012202 383 16212 SH SOLE 15762 0 450 HEINZ, H J COMPANY COM 423074103 367 8150 SH SOLE 7350 0 800 HEWLETT PACKARD CO COM 428236103 1778 43171 SH SOLE 37721 0 5450 HICKORY TECH CORP COM COM 429060106 790 110447 SH SOLE 100547 0 9900 HOME DEPOT INC COM 437076102 1814 45181 SH SOLE 42533 0 2648 HONEYWELL INTERNATIONAL, INC. COM 438516106 251 5554 SH SOLE 5237 0 317 HOSPIRA INC COM COM 441060100 419 12463 SH SOLE 12257 0 206 HSBC HOLDINGS PLC FRN 404280406 1936 21125 SH SOLE 20429 0 696 HUDSON CITY BANCORP INC COM COM 443683107 267 19206 SH SOLE 19006 0 200 HUMANA INC COM 444859102 252 4560 SH SOLE 4560 0 0 HUNTINGTON BANCSHARES INC COM 446150104 1465 61693 SH SOLE 59493 0 2200 HYFLUX LTD SHS FRN Y3817K105 143 97500 SH SOLE 94000 0 3500 I B M COM 459200101 974 10028 SH SOLE 8514 0 1514 ILLINOIS TOOL WORKS INC COM 452308109 249 5380 SH SOLE 5380 0 0 IMMUCOR INC COM 452526106 444 15201 SH SOLE 14398 0 803 INGERSOLL-RAND CO LTD CL A COM FRN G4776G101 489 12497 SH SOLE 11151 0 1346 INGLES MKTS INC CL A COM 457030104 227 7608 SH SOLE 1800 0 5808 INNKEEPERS USA TR COM 4576J0104 2001 129075 SH SOLE 124158 0 4917 INTEL CORP COM 458140100 947 46786 SH SOLE 40139 0 6647 INTERNATIONAL COAL GRP INC NCO COM 45928H106 404 74075 SH SOLE 74075 0 0 INTERNATIONAL GAME TECH COM 459902102 219 4751 SH SOLE 2751 0 2000 INTERNATIONAL PAPER CO COM 460146103 3675 107757 SH SOLE 94907 0 12850 INTERNATIONAL TIME RES INC COM FRN 46049W105 7 18000 SH SOLE 18000 0 0 INTERSECTIONS INC COM COM 460981301 691 65475 SH SOLE 55275 0 10200 INVESTORS BANCORP INC COM COM 46146P102 204 13000 SH SOLE 13000 0 0 IPSCO INC COM FRN 462622101 620 6604 SH SOLE 5504 0 1100 J ALEXANDER CORP COM COM 466096104 102 11400 SH SOLE 10400 0 1000 J.P. 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COM 680665205 1351 81770 SH SOLE 73335 0 8435 OMNICARE INC COM 681904108 1086 28123 SH SOLE 25632 0 2491 ORACLE SYS CORP COM 68389X105 394 22973 SH SOLE 21948 0 1025 PABRAI INVESTMENT FUND 3 LIMI COM BT3890508 2003 74451 SH SOLE 42041 0 32409 PABRAI INVESTMENT FUND 4 LIMI COM BT3890909 1192 84633 SH SOLE 84633 0 0 PACCAR INC COM COM 693718108 229 3536 SH SOLE 3536 0 0 PACKAGING CORP AMER COM COM 695156109 1969 89091 SH SOLE 86235 0 2856 PALOMAR MED TECHNOLOGIES INCCO COM 697529303 200 3950 SH SOLE 3950 0 0 PARGESA HOLDING SA GENEVE SHS FRN H60477207 784 6820 SH SOLE 6395 0 425 PEABODY ENERGY CORP COM 704549104 11186 276811 SH SOLE 240378 0 36433 PENN WEST ENERGY TR UNIT FRN 707885109 906 29641 SH SOLE 27416 0 2225 PEOPLESUPPORT INC COM COM 712714302 300 14260 SH SOLE 12785 0 1475 PEPSICO INC COM 713448108 7054 112776 SH SOLE 95815 0 16960 PETROBRAS BRASILEIRO ADR SPONS FRN 71654V408 639 6200 SH SOLE 5150 0 1050 PETROCHINA CO LTD SPONSORED AD FRN 71646E100 937 6656 SH SOLE 6306 0 350 PETSMART INC COM COM 716768106 290 10052 SH SOLE 10052 0 0 PFIZER INC COM 717081103 2126 82071 SH SOLE 76544 0 5527 PG&E CORP COM COM 69331C108 573 12110 SH SOLE 11937 0 173 PHILIPPINE LONG DISTANCE TELAD FRN 718252604 871 17040 SH SOLE 15540 0 1500 PICO HLDGS INC COM NEW COM 693366205 223 6400 SH SOLE 6400 0 0 PINNACLE AIRL CORP COM COM 723443107 455 26975 SH SOLE 20475 0 6500 PINNACLE WEST CAP CORP COM COM 723484101 2000 39451 SH SOLE 38047 0 1404 PLANTRONICS INC NEW COM COM 727493108 520 24538 SH SOLE 24385 0 153 PLAYERS NETWORK COM COM 72811P102 2 10000 SH SOLE 10000 0 0 PLEXUS CORP COM COM 729132100 623 26092 SH SOLE 25719 0 373 PLUM CREEK TIMBER CO INC COM COM 729251108 7712 193524 SH SOLE 162899 0 30625 PNC FINANCIAL CORP COM 693475105 1024 13824 SH SOLE 10188 0 3636 POLARIS INDS INC COM COM 731068102 2230 47613 SH SOLE 45805 0 1808 POTASH CORP SASK INC FRN 73755L107 1049 7310 SH SOLE 4260 0 3050 PRAXAIR INC COM 74005P104 236 3984 SH SOLE 2560 0 1424 PRECISION DRILLING TRUST FRN 740215108 273 11787 SH SOLE 11387 0 400 PROCTER & GAMBLE COMPANY COM 742718109 3607 56119 SH SOLE 51417 0 4702 PROGRESSIVE CORP OHIO COM 743315103 223 9201 SH SOLE 8377 0 824 PVF CAPITAL CORP COM COM 693654105 192 18175 SH SOLE 18175 0 0 QUADRIGA SUPERFUND SER BLTD PA COM 74731W209 397 253 SH SOLE 253 0 0 QUALCOMM INC COM COM 747525103 1373 36343 SH SOLE 28093 0 8250 QUEST SOFTWARE INC COM COM 74834T103 1114 76046 SH SOLE 69399 0 6647 RADIAN GROUP INC. COM 750236101 320 5940 SH SOLE 5836 0 104 RANDGOLD RES LTD ADR FRN 752344309 1164 49600 SH SOLE 45200 0 4400 RANGE RES CORP COM COM 75281A109 206 7500 SH SOLE 7500 0 0 RAYMOND JAMES FINL INC COM COM 754730109 437 14429 SH SOLE 14172 0 257 RAYONIER INC COM COM 754907103 9881 240707 SH SOLE 210661 0 30046 READERS DIGEST ASSN INC A N-V COM 755267101 372 22250 SH SOLE 20700 0 1550 REALNETWORKS INC COM COM 75605L104 459 41916 SH SOLE 41249 0 667 REGIONS FINANCIAL CORP (NEW) COM 7591EP100 1894 50639 SH SOLE 48841 0 1798 RELIANT RES INC COM COM 75952B105 754 53075 SH SOLE 53075 0 0 RESEARCH FRONTIERS INC COM COM 760911107 97 17765 SH SOLE 17765 0 0 RH DONNELLEY CORP COM COM 74955W307 263 4200 SH SOLE 4200 0 0 ROCKWELL INTL CORP NEW COM COM 773903109 387 6334 SH SOLE 2334 0 4000 ROWAN COS INC COM COM 779382100 818 24638 SH SOLE 24376 0 262 ROYAL DUTCH SHELL PLC SPONS AD FRN 780259206 663 9367 SH SOLE 7967 0 1400 ROYCE PRIVET FUND LTD PA COM BT3889284 834 833700 SH SOLE 833700 0 0 SAN JUAN 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4000 SKY FINL GROUP INC COM COM 83080P103 635 22238 SH SOLE 10238 0 12000 SONOCO PRODUCTS COM 835495102 1396 36674 SH SOLE 28476 0 8198 SONY CORP ADR FRN 835699307 407 9494 SH SOLE 9326 0 168 SOUTHERN AFRICA FUND XXXSUBMIT COM 842ESC105 0 10116 SH SOLE 8791 0 1325 SOUTHWEST AIRLS CO COM 844741108 156 10173 SH SOLE 5025 0 5148 SPRINT CORP COM 852061100 2067 109426 SH SOLE 96168 0 13258 ST JOE CO COM COM 790148100 474 8840 SH SOLE 8840 0 0 ST MARY LD & EXPL CO COM COM 792228108 295 8000 SH SOLE 8000 0 0 STAPLES INC COM COM 855030102 285 10687 SH SOLE 7087 0 3600 STARBUCKS CORP COM COM 855244109 595 16788 SH SOLE 13688 0 3100 STERICYCLE INC COM COM 858912108 200 2650 SH SOLE 2550 0 100 STMICROELECTRONICS N V SHS-N Y FRN 861012102 1153 62666 SH SOLE 56983 0 5683 STRATEGIC HOTEL CAP INC COM COM 86272T106 523 23984 SH SOLE 23984 0 0 STRYKER CORP COM COM 863667101 269 4883 SH SOLE 4883 0 0 SUN CMNTYS INC COM COM 866674104 356 10988 SH SOLE 9438 0 1550 SUN LIFE FINL SVCS CDA INC COM FRN 866796105 351 8295 SH SOLE 8295 0 0 SUNCOR INC COM FRN 867229106 1188 15052 SH SOLE 14177 0 875 SUNRISE ASSISTED LIVING INC CO COM 86768K106 1070 34844 SH SOLE 31730 0 3114 SUPERIOR ENERGY SVCS INC COM COM 868157108 637 19499 SH SOLE 18605 0 894 SXR URANIUM ONE INC COM COM 87112P106 9337 678220 SH SOLE 598910 0 79310 SYMANTEC CORP COM COM 871503108 498 23898 SH SOLE 12843 0 11055 SYSCO CORPORATION COM 871829107 439 11931 SH SOLE 9181 0 2750 TAIWAN SEMICONDUCTOR MFG CO AD FRN 874039100 4129 377779 SH SOLE 345150 0 32629 TALISMAN ENERGY INC COM FRN 87425E103 302 17758 SH SOLE 17158 0 600 TARGET CORP COM 87612E106 545 9556 SH SOLE 7716 0 1840 TELECOM CORP NEW ZEALAND LTDSP FRN 879278208 683 25374 SH SOLE 23674 0 1700 TELEFONOS DE MEXICO SPON ADR R FRN 879403780 570 20185 SH SOLE 19123 0 1062 TELEPHONE & DATA SYS INC COM COM 879433100 1587 29204 SH SOLE 25889 0 3315 TELEPHONE & DATA SYS INC SPL C COM 879433860 1436 28953 SH SOLE 25638 0 3315 TELLABS INC COM 879664100 1139 110999 SH SOLE 109638 0 1361 TEREX CORP NEW COM COM 880779103 385 5964 SH SOLE 5648 0 316 TETRA TECHNOLOGIES INC DEL COM COM 88162F105 1212 47396 SH SOLE 43636 0 3760 TEXAS INSTRUMENTS INC COM 882508104 495 17174 SH SOLE 16814 0 360 TEXTRON INC COM 883203101 290 3098 SH SOLE 3048 0 50 THERMO ELECTRON CORP COM 883556102 1123 24800 SH SOLE 22630 0 2170 THORNBURG MTG ASSET CORP COM 885218107 2993 119100 SH SOLE 92350 0 26750 TIDEWATER INC COM COM 886423102 364 7524 SH SOLE 7401 0 123 TIME WARNER INC COM 887317105 2288 105033 SH SOLE 100426 0 4607 TIMKEN CO COM COM 887389104 1515 51927 SH SOLE 1000 0 50927 TITAN PHARMACEUTCLS INC DEL CO COM 888314101 100 30000 SH SOLE 30000 0 0 TOTAL SA ADR SPONSORED FRN 89151E109 230 3192 SH SOLE 3092 0 100 TOURNIGAN GOLD CORP COM FRN 891565103 198 69100 SH SOLE 67300 0 1800 TOWER GROUP INC COM COM 891777104 307 9885 SH SOLE 8565 0 1320 TRANSOCEAN SEDCO FOREX INC COM G90078109 13457 166362 SH SOLE 146060 0 20302 TRAPEZA PARTNERS IV LIMITE COM BT3890507 1187 1187319 SH SOLE 1187319 0 0 TREMONT OPPORTUNITY FUNDII LIM COM BT3890785 37 37359 SH SOLE 37359 0 0 TRINITY INDS INC COM 896522109 347 9870 SH SOLE 9453 0 417 TYCO INTL LTD NEW COM FRN 902124106 210 6900 SH SOLE 6800 0 100 U S BANCORP COM 902973304 585 16178 SH SOLE 15978 0 200 U S INVESTORS CL A RESTRI COM BT3687732 0 25000 SH SOLE 25000 0 0 UNDER ARMOUR INC CL A COM 904311107 242 4800 SH SOLE 4800 0 0 UNILEVER N V WI FRN 904784709 2696 98925 SH SOLE 90225 0 8700 UNION PAC CORP COM 907818108 652 7088 SH SOLE 6838 0 250 UNITED BOLERO DEV CORP COM FRN 90962L100 2 10000 SH SOLE 10000 0 0 UNITED FINANCIAL BANCORP INCCO COM 91030R103 186 13500 SH SOLE 13500 0 0 UNITED NAT FOODS INC COM COM 911163103 619 17220 SH SOLE 15930 0 1290 UNITED ONLINE INC COM COM 911268100 1947 146604 SH SOLE 141567 0 5037 UNITED PARCEL SVC INC CL B COM 911312106 965 12866 SH SOLE 11613 0 1253 UNITED TECHNOLOGIES CORP COM 913017109 1283 20522 SH SOLE 18336 0 2186 UNITEDHEALTH GROUP INC COM 91324P102 6603 122893 SH SOLE 112401 0 10492 UNIVERSAL HEALTH SVCS INC CL B COM 913903100 445 8023 SH SOLE 7888 0 135 USEC INC COM COM 90333E108 429 33689 SH SOLE 33689 0 0 UST INC COM 902911106 238 4095 SH SOLE 4095 0 0 V F CORP COM 918204108 464 5649 SH SOLE 5599 0 50 VALERO REFNG & MARKETING CO CO COM 91913Y100 1266 24752 SH SOLE 20252 0 4500 VALSPAR CORP COM COM 920355104 1263 45704 SH SOLE 33772 0 11932 VALUE REAL ESTATE INVEST COM BT3725243 30 29632 SH SOLE 29632 0 0 VECTREN CORP COM COM 92240G101 1781 62993 SH SOLE 55693 0 7300 VEECO INSTRS INC DEL COM COM 922417100 269 14337 SH SOLE 13667 0 670 VEOLIA ENVIRONMENT SPONSORED A FRN 92334N103 358 4759 SH SOLE 4759 0 0 VERITAS DGC INC COM COM 92343P107 646 7540 SH SOLE 6735 0 805 VERIZON COMMUNICATIONS COM 92343V104 2905 78021 SH SOLE 74173 0 3848 VIACELL INC COM COM 92554J105 148 31364 SH SOLE 31364 0 0 VITRO SOCIEDAD ANONIMA SPONSOR FRN 928502301 160 28875 SH SOLE 28875 0 0 VULCAN MATLS CO COM COM 929160109 628 6986 SH SOLE 6950 0 36 WACHOVIA GROUP COM COM 929903102 592 10387 SH SOLE 6156 0 4231 WAL MART STORES INC COM 931142103 3806 82415 SH SOLE 69311 0 13104 WALGREEN COMPANY COM 931422109 462 10060 SH SOLE 8560 0 1500 WALT DISNEY COMPANY COM 254687106 5215 152179 SH SOLE 139336 0 12843 WAL-MART DE MEXICO S A DE C OR FRN P98180105 460 103788 SH SOLE 103788 0 0 WASHINGTON MUT INC COM COM 939322103 2583 56783 SH SOLE 53882 0 2901 WATERS CORP COM COM 941848103 229 4685 SH SOLE 2985 0 1700 WATSCO INC COM COM 942622200 550 11652 SH SOLE 11483 0 169 WEATHERFORD INTL LTD NEW FRN G95089101 373 8923 SH SOLE 5834 0 3089 WELLPOINT INC COM 94973V107 869 11046 SH SOLE 7446 0 3600 WELLS FARGO NEW COM 949746101 798 22427 SH SOLE 16035 0 6392 WESCO FINL CORP COM COM 950817106 363 790 SH SOLE 790 0 0 WESTERN COPPER CORPARATION FRN 95805Y102 10 10000 SH SOLE 10000 0 0 WESTERN DIGITAL CORPORATION COM 958102105 450 22001 SH SOLE 21660 0 341 WESTERN UN CO COM COM 959802109 645 28763 SH SOLE 25338 0 3425 WEYERHAEUSER CO COM 962166104 448 6338 SH SOLE 5208 0 1130 WHOLE FOODS MKT INC COM COM 966837106 235 5000 SH SOLE 4700 0 300 WILLIAMS CO COM 969457100 245 9381 SH SOLE 9381 0 0 WILLIAMS SONOMA INC COM 969904101 759 24127 SH SOLE 23875 0 252 WINDSTREAM CORP COM COM 97381W104 996 70035 SH SOLE 62277 0 7758 WISCONSIN ENERGY CORP COM 976657106 307 6475 SH SOLE 6475 0 0 WPS RES CORP COM COM 92931B106 2070 38317 SH SOLE 36689 0 1627 WRIGLEY WM JR CO COM 982526105 267 5163 SH SOLE 5163 0 0 WYETH COM 983024100 2023 39739 SH SOLE 33465 0 6274 WYNN RESORTS LTD COM COM 983134107 350 3730 SH SOLE 3630 0 100 XCEL ENERGY INC COM 98389B100 2107 91386 SH SOLE 88383 0 3003 XM SATELLITE RADIO HLDGS INCCL COM 983759101 154 10665 SH SOLE 10665 0 0 XTO ENERGY INC COM COM 98385X106 319 6787 SH SOLE 6150 0 637 YAMANA GOLD INC COM FRN 98462Y100 559 42425 SH SOLE 40575 0 1850 YUM BRANDS INC COM COM 988498101 260 4423 SH SOLE 3843 0 580 ZIMMER HLDGS INC COM COM 98956P102 582 7430 SH SOLE 7330 0 100 LINE COUNT: 487 TOTAL VALUE: $725,578,000