13F-HR 1 sec13f2qtr2008.txt SEC 13F FILING UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 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: 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 August 11, 2008 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. SEC13F.LNS STIFEL NICOLAUS & CO., INC. FORM 13F SUMMARY PAGE AS OF DATE: 06/30/08 RUN DATE: 07/01/08 3:47 P.M. REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 550 FORM 13F INFORMATION TABLE VALUE TOTAL: (x$1000) $962,493 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME PORTVUE-SEC13F.LNP STIFEL NICOLAUS & CO., INC. PAGE 1 RUN DATE: 07/01/08 3:47 P.M. FORM 13F INFORMATION TABLE AS OF DATE: 06/30/08 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3 COM CORP COM 885535104 942 444535 SH SOLE 2500 0 442035 3M COMPANY COM COM 88579Y101 2087 29989 SH SOLE 7874 0 22115 A T & T INC (NEW) COM 00206R102 4311 127963 SH SOLE 104046 0 23917 AAR CORP COM 000361105 218 16100 SH SOLE 11500 0 4600 ABB LTD ADR SPONSORED FRN 000375204 5261 185771 SH SOLE 172676 0 13095 ABBOTT LABS COM 002824100 5362 101219 SH SOLE 89104 0 12116 ACCENTURE LTD SHS CL A FRN G1150G111 2329 57191 SH SOLE 44851 0 12340 ADOLOR CORP COM COM 00724X102 195 35623 SH SOLE 35623 0 0 ADVANCED ENVIRON RECYCLING TCL COM 007947104 52 90813 SH SOLE 90813 0 0 AER ENERGY RES INC COM 000944108 0 41609 SH SOLE 41609 0 0 AFLAC INC COM 001055102 2872 45735 SH SOLE 38321 0 7414 AGCO CORP COM 001084102 1923 36700 SH SOLE 28687 0 8013 AIR NEW ZEALAND SHS FRN Q0169V100 12 15000 SH SOLE 15000 0 0 AIR TRANSPORT SERVICES GROUP COM 00922R105 60 60150 SH SOLE 54300 0 5850 AIRTRAN HOLDINGS INC COM 00949P108 20 10000 SH SOLE 0 0 10000 ALLIANT CORP COM COM 018802108 302 8813 SH SOLE 8713 0 100 ALLSTATE CORP COM 020002101 1276 27983 SH SOLE 25453 0 2530 ALTERA CORP COM 021441100 518 25000 SH SOLE 2500 0 22500 ALTRIA GROUP INC COM COM 02209S103 7384 359158 SH SOLE 291357 0 67801 AMAZON COM INC COM COM 023135106 716 9763 SH SOLE 7408 0 2355 AMEDISYS INC COM COM 023436108 923 18303 SH SOLE 18206 0 97 AMERICA MOVIL S A DE C V SPONS FRN 02364W105 242 4592 SH SOLE 4313 0 279 AMERICAN EXPRESS CO COM 025816109 838 22235 SH SOLE 7635 0 14600 AMERICAN INTL GROUP INC COM 026874107 1653 62471 SH SOLE 54708 0 7763 AMERICAN REPROGRAPHICS CO COM COM 029263100 178 10676 SH SOLE 10676 0 0 AMERICAN SUPERCONDUCTOR CORPCO COM 030111108 203 5670 SH SOLE 5670 0 0 AMERICAN TOWER CORP CL A COM 029912201 450 10640 SH SOLE 9115 0 1525 AMGEN INC COM 031162100 352 7465 SH SOLE 5964 0 1501 AMPHENOL CORP NEW CL A COM 032095101 1172 26112 SH SOLE 17076 0 9036 ANADARKO PETE CORP COM 032511107 3387 45262 SH SOLE 40511 0 4751 ANGLO AMERN PLC ADR NEW FRN 03485P201 15616 440496 SH SOLE 391950 0 48546 ANHEUSER BUSCH COS INC COM 035229103 7657 123263 SH SOLE 114024 0 9239 ANNALY MTG MGMT INC COM COM 035710409 2803 180725 SH SOLE 42272 0 138453 APACHE CORP COM 037411105 1653 11892 SH SOLE 11167 0 725 APOLLO GROUP INC CL A COM 037604105 1895 42811 SH SOLE 33451 0 9360 APPLE COMPUTER INC COM 037833100 3643 21759 SH SOLE 16761 0 4998 APTARGROUP INC COM COM 038336103 483 11518 SH SOLE 11418 0 100 ARCHER DANIELS MIDLAND COM 039483102 12564 372260 SH SOLE 314139 0 58121 ARTISTIC MEDIA PARTNERS INC CL COM BT1218338 53 11700 SH SOLE 11700 0 0 ASH GROVE CEM CO COM COM 043693100 1732 7245 SH SOLE 6730 0 515 ATWOOD OCEANICS INC COM COM 050095108 1138 9151 SH SOLE 9108 0 43 AVID TECHNOLOGY INC COM COM 05367P100 748 44031 SH SOLE 0 0 44031 BAKER HUGHES INC COM COM 057224107 3233 37021 SH SOLE 34502 0 2519 BALDWIN & LYONS INC CL B COM 057755209 703 40226 SH SOLE 35962 0 4265 BANK AMERICA CORP COM 060505104 876 36717 SH SOLE 20554 0 16163 BARCLAYS BK PLC ADR PFD SER 1 FRN 06738C828 10375 125000 SH SOLE 100000 0 25000 BARRETT BILL CORP COM COM 06846N104 2396 40333 SH SOLE 1145 0 39188 BARRICK GOLD CORP FRN 067901108 7070 155384 SH SOLE 137405 0 17979 BAXTER INTL INC COM COM 071813109 1311 20500 SH SOLE 5245 0 15255 BE AEROSPACE INC COM COM 073302101 2560 109923 SH SOLE 91895 0 18028 BEHAVIORAL RECOGNITION SYSTEM COM BT1308596 50 50000 SH SOLE 50000 0 0 BEIJING CAP INTL ARPT CO LTD FRN Y07717104 281 342408 SH SOLE 316408 0 26000 BELDEN CDT INC COM COM 077454106 342 10100 SH SOLE 5500 0 4600 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 2777 23 SH SOLE 21 0 2 BERKSHIRE HATHAWAY INC DEL CL COM 084670207 12397 3090 SH SOLE 2598 0 492 BEST BUY INC COM COM 086516101 293 7404 SH SOLE 6516 0 888 BHP BILLITON LTD SPONSORED ADR FRN 088606108 785 9212 SH SOLE 7512 0 1700 BIOVAIL CORP F FRN 09067J109 144 14950 SH SOLE 14250 0 700 BLACKROCK MUNIENHANCED FD INPF PFD 09253Y506 200 8 SH SOLE 0 0 8 BLACKROCK MUNIHOLDINGS INSURE PFD 09254C305 300 12 SH SOLE 0 0 12 BOEING CO COM 097023105 2894 44036 SH SOLE 29831 0 14205 BOIS D ARC ENERGY INC COM COM 09738U103 219 9002 SH SOLE 8822 0 180 BORDERS GROUP INC COM COM 099709107 106 17600 SH SOLE 3800 0 13800 BOSTON SCIENTIFIC CORP COM 101137107 2844 231433 SH SOLE 4595 0 226838 BOUNCEBACKTECHNOLOGIES COM ICO COM 101628105 34 338000 SH SOLE 338000 0 0 BP AMOCO ADS FRN 055622104 4947 71111 SH SOLE 68246 0 2865 BP PRUDHOE BAY RTY TR UNIT BEN COM 055630107 297 2875 SH SOLE 2575 0 300 BRISTOL MYERS SQUIBB CO COM 110122108 5273 256826 SH SOLE 248086 0 8740 BROCADE COMMUNICATIONS SYSTEMS COM 111621306 183 22175 SH SOLE 21417 0 758 BRONCO DRILLING CO INC COM COM 112211107 327 17775 SH SOLE 14375 0 3400 BROOKFIELD ASSET MANAGEMENT IN FRN 112585104 323 9915 SH SOLE 8828 0 1087 BRUKER BIOSCIENCES CORP COM COM 116794108 242 18855 SH SOLE 18855 0 0 BUCYRUS INTL INC NEW CL A COM 118759109 10928 149658 SH SOLE 130126 0 19532 BUNGE LIMITED COM FRN G16962105 8023 74497 SH SOLE 65467 0 9030 BURLINGTON NTHN SANTA FE COM 12189T104 383 3839 SH SOLE 3676 0 163 CABELAS INC COM COM 126804301 1452 131900 SH SOLE 1000 0 130900 CABLEVISION SYS CORP COM 12686C109 7684 339982 SH SOLE 295652 0 44330 CAMECO CORP COM FRN 13321L108 1746 40725 SH SOLE 36876 0 3849 CAMERON INTRNATIONAL CORP COM 13342B105 1004 18138 SH SOLE 15273 0 2865 CAMPBELL FUND TRUST LTD PA COM BT3889840 1647 621 SH SOLE 516 0 105 CAMPBELL SOUP CO COM 134429109 1914 57212 SH SOLE 53395 0 3817 CANADIAN NAT RES LTD COM FRN 136385101 19553 195044 SH SOLE 169424 0 25620 CANADIAN NATL RY CO FRN 136375102 3450 71758 SH SOLE 59851 0 11907 CANADIAN PAC RY LTD FRN 13645T100 1456 22018 SH SOLE 20718 0 1300 CARDINAL HEALTH INC COM 14149Y108 283 5483 SH SOLE 1000 0 4483 CARLISLE COS INC COM COM 142339100 242 8353 SH SOLE 8232 0 121 CARNIVAL PAIRED CERTIFICATES COM 143658300 1511 45846 SH SOLE 42518 0 3328 CATERPILLAR INC COM 149123101 1186 16068 SH SOLE 15168 0 900 CB RICHARD ELLIS GROUP INC CL COM 12497T101 1046 54477 SH SOLE 52497 0 1980 CBIZ INC COM COM 124805102 80 10000 SH SOLE 0 0 10000 CBS CORP NEW CL B COM 124857202 4717 242037 SH SOLE 80459 0 161578 CEDAR FAIR L P DEP UNITS COM 150185106 371 19752 SH SOLE 18852 0 900 CELGENE CORP COM COM 151020104 718 11241 SH SOLE 9225 0 2016 CEMEX S A ADR SPSRD NEW FRN 151290889 795 32184 SH SOLE 26554 0 5630 CENTERPOINT ENERGY INC COM COM 15189T107 11649 725781 SH SOLE 654184 0 71598 CENTURY ALUM CO COM COM 156431108 3885 58425 SH SOLE 51235 0 7190 CENTURY PETE CORP COM COM 156661100 6 20000 SH SOLE 0 0 20000 CENTURYTEL, INC COM 156700106 10856 305036 SH SOLE 257459 0 47577 CHARTER COMMUNICATIONS INC DCL COM 16117M107 16 14925 SH SOLE 14525 0 400 CHESAPEAKE ENERGY CORP COM COM 165167107 22133 335547 SH SOLE 5508 0 330039 CHEVRONTEXACO CORPORATION COM 166764100 3227 32554 SH SOLE 23310 0 9244 CHICAGO BRIDGE & IRON CO N Y R FRN 167250109 5461 137132 SH SOLE 113299 0 23833 CHINDEX INTERNATIONAL INC COM COM 169467107 234 15923 SH SOLE 15770 0 153 CHUBB CORP COM COM 171232101 1142 23301 SH SOLE 21663 0 1638 CINCINNATI BELL INC NEW COM COM 171871106 42 10600 SH SOLE 10600 0 0 CINCINNATI FINL CORP COM COM 172062101 270 10630 SH SOLE 10630 0 0 CINTAS CORP COM 172908105 595 22431 SH SOLE 21476 0 955 CISCO SYS INC COM 17275R102 3398 146084 SH SOLE 116503 0 29581 CITIGROUP CAP VIII CAP 6.95% T PFD 17306R204 1612 80944 SH SOLE 79842 0 1102 CITIGROUP INC. COM 172967101 242 14451 SH SOLE 12651 0 1800 CITIZENS COMMUNICATIONS CO COM COM 17453B101 10907 961857 SH SOLE 832811 0 129046 CLEAN HARBORS INC COM COM 184496107 437 6145 SH SOLE 5684 0 461 CLEVELAND CLIFFS INC COM COM 185896107 433 3634 SH SOLE 1995 0 1639 CMGI INC COM COM 125750307 233 21957 SH SOLE 21957 0 0 CMS ENERGY CORP COM 125896100 8307 557499 SH SOLE 502354 0 55144 COACH INC COM COM 189754104 868 30071 SH SOLE 25975 0 4096 COCA COLA CO COM 191216100 3689 70966 SH SOLE 55652 0 15315 COCA COLA ENTERPRISES INC COM 191219104 385 22271 SH SOLE 14371 0 7900 COGNIZANT TECHNLGY SLTNS CORCL COM 192446102 491 15117 SH SOLE 11048 0 4069 COLDWATER CREEK INC COM COM 193068103 105 19910 SH SOLE 19683 0 227 COLGATE PALMOLIVE CO COM 194162103 986 14263 SH SOLE 10563 0 3700 COLONIAL CAPITAL TR IV 7.875% PFD 19560Q203 196 12660 SH SOLE 3700 0 8960 COMCAST CORP CL A SPL COM 20030N200 721 38449 SH SOLE 24200 0 14249 COMCAST CORP NEW COM CL A COM 20030N101 8360 440717 SH SOLE 371563 0 69154 COMMSCOPE INC COM COM 203372107 1755 33250 SH SOLE 19050 0 14200 COMMUNITY BANKSHARES INC COLCD COM 20364D109 1060 26500 SH SOLE 24000 0 2500 CONAGRA INC COM 205887102 283 14672 SH SOLE 10872 0 3800 CONOCOPHILLIPS COM COM 20825C104 2742 29053 SH SOLE 16528 0 12525 CONSOL ENERGY INC COM COM 20854P109 286 2542 SH SOLE 2542 0 0 CONSTELLATION ENERGY GROUP ICO COM 210371100 1399 17037 SH SOLE 13694 0 3343 CON-WAY INC COM COM 205944101 605 12800 SH SOLE 8500 0 4300 COOPER INDUSTRIES LTD CL A FRN G24182100 266 6730 SH SOLE 6554 0 176 CORE LABORATORIES N V ORD FRN N22717107 390 2739 SH SOLE 2739 0 0 CORN PRODS INTL INC COM COM 219023108 488 9934 SH SOLE 9764 0 170 CORNING INC COM 219350105 577 25048 SH SOLE 15040 0 10008 COSTCO WHOLESALE CORP COM 22160K105 215 3070 SH SOLE 1592 0 1478 COVANCE INC COM COM 222816100 400 4645 SH SOLE 3436 0 1209 CRITICAL THERAPEUTICS INC COM COM 22674T105 4 10000 SH SOLE 0 0 10000 CROWN MEDIA HLDGS INC CL A COM 228411104 2005 422975 SH SOLE 386500 0 36475 CSX CORP COM COM 126408103 297 4732 SH SOLE 4732 0 0 CUNDILL GLOBAL VALUE LIMITE COM BT3888151 4068 4068455 SH SOLE 3093242 0 975213 CVS CORP COM 126650100 3105 78472 SH SOLE 67314 0 11158 CYPRESS SEMICONDUCTOR CORP COM COM 232806109 573 23155 SH SOLE 22187 0 968 DEERE & CO. COM 244199105 475 6590 SH SOLE 5603 0 987 DELTIC TIMBER CORP COM COM 247850100 294 5500 SH SOLE 5500 0 0 DENALI FD INC PFD SER A PFD 24823A201 375 15 SH SOLE 15 0 0 DENTSPLY INTL INC NEW COM 249030107 372 10100 SH SOLE 9800 0 300 DETOUR GOLD CORPORATION COM COM 250669108 8307 340975 SH SOLE 276675 0 64300 DEVON ENERGY CORP NEW COM COM 25179M103 1017 8461 SH SOLE 3741 0 4720 DIAGEO PLC NEW SPN ADR E FRN 25243Q205 1517 20531 SH SOLE 18525 0 2006 DIAMOND FOODS INC COM COM 252603105 237 10304 SH SOLE 10304 0 0 DIAMOND OFFSHORE DRILLNG INCCO COM 25271C102 1000 7185 SH SOLE 6772 0 413 DIANA SHIPPING INC COM FRN Y2066G104 1875 61067 SH SOLE 43331 0 17736 DISH NETWORK CORPORATION COM 25470M109 458 15640 SH SOLE 12940 0 2700 DOMINION RES INC VA NEW COM COM 25746U109 310 6532 SH SOLE 6532 0 0 DOW CHEMICAL CORP COM 260543103 2153 61662 SH SOLE 54123 0 7539 DPL INC COM COM 233293109 861 32636 SH SOLE 31542 0 1094 DRESS BARN INC COM COM 261570105 147 11000 SH SOLE 0 0 11000 DRESSER RAND GROUP INC COM 261608103 514 13152 SH SOLE 11872 0 1280 DRIL-QUIP INC COM COM 262037104 660 10484 SH SOLE 10484 0 0 DTE ENERGY CO COM COM 233331107 2034 47918 SH SOLE 44695 0 3223 DU PONT E I DE NEMOURS CO COM 263534109 3298 76892 SH SOLE 72318 0 4574 DUKE ENERGY CORP COM 26441C105 524 30166 SH SOLE 28904 0 1262 DUKE RLTY INVTS INC COM NEW COM 264411505 267 11897 SH SOLE 9697 0 2200 EAGLE BULK SHIPPING INC COM COM Y2187A101 292 9872 SH SOLE 9272 0 600 EAGLE TEST SYS INC COM COM 270006109 159 14216 SH SOLE 13824 0 392 EAST WEST BANCORP INC COM COM 27579R104 5202 736896 SH SOLE 618631 0 118265 EATON CORP COM 278058102 1037 12200 SH SOLE 12200 0 0 EATON VANCE MUN PFDINCOME PFD 27826U306 400 16 SH SOLE 16 0 0 EATON VANCE MUNI INCOME TRUSPF PFD 27826U207 425 17 SH SOLE 17 0 0 EBAY INC COM COM 278642103 2819 103131 SH SOLE 40542 0 62589 ECOLAB INC COM 278865100 441 10259 SH SOLE 9405 0 854 EDISON INTERNATIONAL COM 281020107 1540 29978 SH SOLE 24251 0 5727 EDWARDS LIFESCIENCES CORP COM COM 28176E108 412 6645 SH SOLE 0 0 6645 EL PASO CORPORATION COM 28336L109 6779 311816 SH SOLE 266096 0 45720 EL PASO ELEC CO COM NEW COM 283677854 226 11400 SH SOLE 8300 0 3100 ELAN PLC FRN 284131208 1716 48271 SH SOLE 33862 0 14409 ELECTRO OPTICAL SCIENCES INCCO COM 285192100 573 74828 SH SOLE 74828 0 0 EMERSON ELEC CO COM 291011104 5549 112222 SH SOLE 93341 0 18881 EMMIS COMMUNICATIONS CORP CL A COM 291525103 44 17600 SH SOLE 17600 0 0 ENCANA CORP COM FRN 292505104 3003 33020 SH SOLE 23795 0 9225 ENCORE ACQUISITION CO COM COM 29255W100 410 5450 SH SOLE 450 0 5000 ENERSYS COM COM 29275Y102 319 9306 SH SOLE 9306 0 0 ENTERPRISE FINL SVCS CORP COM COM 293712105 567 30077 SH SOLE 28977 0 1100 ENVIRONMENTAL SOLUTIONS WRLDCO COM 29408K102 3 11750 SH SOLE 11750 0 0 EXELON CORP COM COM 30161N101 1896 21075 SH SOLE 16790 0 4285 EXPEDIA INC DEL COM COM 30212P105 439 23900 SH SOLE 11400 0 12500 EXPRESS SCRIPTS INC COM 302182100 219 3489 SH SOLE 3085 0 404 EXXON CORPORATION COM 30231G102 10439 118452 SH SOLE 99124 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849 FLAGSTONE REINSURANCE HLDGS SH COM G3529T105 126 10671 SH SOLE 10671 0 0 FLOW INTL CORP COM COM 343468104 146 18747 SH SOLE 18747 0 0 FLUOR CORP NEW COM COM 343412102 525 2819 SH SOLE 2692 0 127 FMC CORP COM 302491303 240 3100 SH SOLE 3100 0 0 FMC TECHNOLOGIES INC COM COM 30249U101 873 11343 SH SOLE 11253 0 90 FORD MTR CO DEL COM PAR $0.01 COM 345370860 135 28074 SH SOLE 26074 0 2000 FORDING CDN COAL TR TR UNIT FRN 345425102 639 6681 SH SOLE 6025 0 656 FOSTER WHEELER LTD SHS NEW FRN G36535139 7533 102985 SH SOLE 90335 0 12650 FPL GROUP INC COM COM 302571104 700 10666 SH SOLE 7603 0 3063 FRANKLIN ELEC INC COM COM 353514102 420 10835 SH SOLE 10835 0 0 FREEPORT MCMORAN COPPER & GOLD COM 35671D857 1809 15439 SH SOLE 14948 0 491 GANNETT INC DEL COM 364730101 398 18344 SH SOLE 17287 0 1057 GAZPROM O A O SPONS ADR REG S FRN 368287207 286 4926 SH SOLE 3576 0 1350 GENERAL CABLE CORP DEL NEW COM COM 369300108 502 8242 SH SOLE 4167 0 4075 GENERAL DYNAMICS CORP COM COM 369550108 1030 12229 SH SOLE 9334 0 2895 GENERAL ELEC CO COM 369604103 6020 225571 SH SOLE 183349 0 42222 GENERAL MILLS INC COM 370334104 2030 33399 SH SOLE 4365 0 29034 GENZYME CORP COM-GEN DIV COM 372917104 6933 96450 SH SOLE 2500 0 93950 GERDAU AMERISTEEL CORP COM FRN 37373P105 313 16200 SH SOLE 16200 0 0 GERMAN AMERN BANCORP COM COM 373865104 149 12859 SH SOLE 12859 0 0 GILEAD SCIENCES INC COM COM 375558103 1728 32637 SH SOLE 28382 0 4255 GLOBAL SOURCES LTD FRN G39300101 464 30536 SH SOLE 29236 0 1300 GOLDCORP INC NEW FRN 380956409 990 21450 SH SOLE 20600 0 850 GOLDEN MEDITECH COMPANY LTD SH FRN G39580108 3 10088 SH SOLE 5044 0 5044 GOLDMAN SACHS GROUP INC COM COM 38141G104 285 1629 SH SOLE 1609 0 20 GOOGLE INC CL A COM 38259P508 366 695 SH SOLE 565 0 130 GREATBATCH INC COM 39153L106 4104 237201 SH SOLE 900 0 236301 GROUPE BRUXELLES LAMBERT FRN B4746J115 6452 54520 SH SOLE 46020 0 8500 GUOCOLEISURE LIMITED FRN G4210D102 44 82000 SH SOLE 66000 0 16000 HAEMONETICS CORP COM 405024100 356 6423 SH SOLE 6087 0 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COM 438516106 759 15087 SH SOLE 10540 0 4547 HORMEL GEO A & CO COM 440452100 335 9687 SH SOLE 9573 0 114 HORNBECK OFFSHORE SVCS INC NCO COM 440543106 323 5707 SH SOLE 5707 0 0 HOSPIRA INC COM COM 441060100 481 11992 SH SOLE 11416 0 576 HOST MARRIOTT CORP NEW COM COM 44107P104 3544 259659 SH SOLE 220614 0 39045 HSBC HOLDINGS PLC FRN 404280406 1818 23697 SH SOLE 22173 0 1524 HUBBELL INC CL B COM 443510201 2172 54483 SH SOLE 39722 0 14761 HUDSON CITY BANCORP INC COM COM 443683107 587 35208 SH SOLE 27211 0 7997 HUNT J B TRANS SVCS INC COM COM 445658107 403 12103 SH SOLE 11158 0 945 HUNTINGTON BANCSHARES INC COM 446150104 452 78329 SH SOLE 63173 0 15156 HYFLUX LTD SHS FRN Y3817K105 873 402400 SH SOLE 364900 0 37500 I B M COM 459200101 2069 17456 SH SOLE 12856 0 4600 IKON OFFICE SOLUTIONS INC COM 451713101 236 20909 SH SOLE 20168 0 741 INBEV SA BRUXELLES FRN B5064A107 253 3625 SH SOLE 3625 0 0 INGERSOLL-RAND CO LTD CL A COM FRN G4776G101 289 7718 SH SOLE 6524 0 1194 INGLES MKTS INC CL A COM 457030104 252 10808 SH SOLE 0 0 10808 INGRAM MICRO INC CL A COM 457153104 253 14273 SH SOLE 13625 0 648 INTEGRAL SYS INC MD COM COM 45810H107 622 16079 SH SOLE 15030 0 1049 INTEGRYS ENERGY GROUP INC COM 45822P105 3013 59283 SH SOLE 55826 0 3457 INTEL CORP COM 458140100 3431 159740 SH SOLE 128883 0 30857 INTERNATIONAL COAL GRP INC NCO COM 45928H106 952 72950 SH SOLE 67275 0 5675 INTERNATIONAL PAPER CO COM 460146103 615 26410 SH SOLE 24282 0 2128 INTERNATIONAL TIME RES INC COM FRN 46049W105 3 18000 SH SOLE 18000 0 0 INTUITIVE SURGICAL INC COM NEW COM 46120E602 1158 4300 SH SOLE 4145 0 155 INVESTORS BANCORP INC COM COM 46146P102 170 13000 SH SOLE 13000 0 0 IOWA TELECOMMUNICATION SVCS CO COM 462594201 768 43634 SH SOLE 28334 0 15300 IRWIN FINL CORP COM COM 464119106 37 13800 SH SOLE 13800 0 0 J ALEXANDER CORP COM COM 466096104 77 11000 SH SOLE 10000 0 1000 J.P. 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105682 SH SOLE 82814 0 22868 OCCIDENTAL PETE CORP COM 674599105 1413 15722 SH SOLE 11332 0 4390 OCEANFREIGHT INC SHS COM Y64202107 220 9484 SH SOLE 9119 0 365 OCWEN FINANCIAL CORP NEW COM 675746309 103 22250 SH SOLE 21150 0 1100 OIL CO LUKOIL ADR SPONSORED FRN 677862104 508 5148 SH SOLE 5148 0 0 OIL STS INTL INC COM COM 678026105 276 4350 SH SOLE 3250 0 1100 OLD SECOND BANCORP INC ILL COM COM 680277100 155 13332 SH SOLE 13332 0 0 OLYMPIC STL INC COM 68162K106 686 9033 SH SOLE 8300 0 733 OPEN JT STK CO-VIMPELCOMMUNIAD FRN 68370R109 335 11283 SH SOLE 9868 0 1415 ORACLE SYS CORP COM 68389X105 896 42683 SH SOLE 25157 0 17526 PABRAI INVESTMENT FUND 3 LIMI COM BT3890508 2477 106319 SH SOLE 72837 0 33482 PABRAI INVESTMENT FUND 4 LIMI COM BT3890909 1627 106400 SH SOLE 106400 0 0 PACER INTL INC TENN COM COM 69373H106 566 26326 SH SOLE 24583 0 1742 PACKAGING CORP AMER COM COM 695156109 897 41699 SH SOLE 40026 0 1673 PALM INC COM 696643105 343 63725 SH SOLE 3910 0 59815 PANERA BREAD CO CL A COM 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ENERGY CORP COM COM 816851109 1469 26015 SH SOLE 21640 0 4375 SHAW GROUP INC COM COM 820280105 11423 184875 SH SOLE 152899 0 31976 SIGMA ALDRICH CORP COM 826552101 4084 75835 SH SOLE 61479 0 14357 SIGNALIFE INC COM COM 82669P104 7 26000 SH SOLE 26000 0 0 SIMON PPTY GROUP INC NEW COM COM 828806109 1433 15944 SH SOLE 12323 0 3621 SIRIUS SATELLITE RADIO IND COM 82966U103 26 13650 SH SOLE 8200 0 5450 SONOCO PRODUCTS COM 835495102 950 30679 SH SOLE 22581 0 8098 SOUTHERN AFRICA FUND XXXSUBMIT COM 842ESC105 0 10866 SH SOLE 9516 0 1350 SOUTHERN CO COM 842587107 560 16048 SH SOLE 15361 0 687 SPECTRUM BRANDS INC COM 84762L105 177 69430 SH SOLE 400 0 69030 SPRINT CORP COM 852061100 1325 139504 SH SOLE 114715 0 24789 ST MARY LD & EXPL CO COM COM 792228108 471 7282 SH SOLE 7282 0 0 STARBUCKS CORP COM COM 855244109 627 39850 SH SOLE 34670 0 5180 STARWOOD HOTELS & RESORTS WRLD COM 85590A401 223 5565 SH SOLE 5477 0 88 STATE STREET CORP COM 857477103 1306 20402 SH SOLE 19837 0 565 STIFEL FINL CORP COM 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FINL CORP COM COM 872275102 1972 163889 SH SOLE 128089 0 35800 TECO ENERGY INC COM 872375100 231 10750 SH SOLE 10750 0 0 TELECOM CORP NEW ZEALAND LTDSP FRN 879278208 195 14401 SH SOLE 11984 0 2417 TELEPHONE & DATA SYS INC COM COM 879433100 1358 28728 SH SOLE 23008 0 5720 TELEPHONE & DATA SYS INC SPL C COM 879433860 1321 29957 SH SOLE 23087 0 6870 TERADYNE INC COM 880770102 982 88678 SH SOLE 85280 0 3398 TEREX CORP NEW COM COM 880779103 283 5502 SH SOLE 5287 0 215 TEVA PHARMACEUTICAL INDS FRN 881624209 1185 25863 SH SOLE 18645 0 7218 TEXAS INSTRUMENTS INC COM 882508104 390 13835 SH SOLE 9918 0 3917 TEXTRON INC COM 883203101 2160 45056 SH SOLE 1461 0 43595 THE MOSIAC COMPANY COM 61945A107 908 6272 SH SOLE 6064 0 208 THERATECHNOLOGIES INC COM COM 88338H100 136 30000 SH SOLE 0 0 30000 THERMO ELECTRON CORP COM 883556102 2088 37463 SH SOLE 31002 0 6461 THOMAS & BETTS CORP COM COM 884315102 2560 67630 SH SOLE 51636 0 15994 THOMPSON CREEK METALS COMPANY FRN 884768102 554 28400 SH SOLE 19100 0 9300 THORNBURG MTG ASSET CORP COM 885218107 9 45575 SH SOLE 2000 0 43575 TIANJIN PORT DEVELOPMENTHOLDIN FRN G88680106 77 192000 SH SOLE 175000 0 17000 TIDEWATER INC COM COM 886423102 211 3239 SH SOLE 3139 0 100 TIFFANY & CO NEW COM COM 886547108 2995 73499 SH SOLE 62387 0 11112 TIME WARNER INC COM 887317105 381 25769 SH SOLE 9415 0 16354 TITAN MACHY INC COM COM 88830R101 470 15016 SH SOLE 13582 0 1434 TITAN PHARMACEUTCLS INC DEL CO COM 888314101 41 30000 SH SOLE 30000 0 0 TJX COMPANIES INC (NEW) COM 872540109 823 26137 SH SOLE 24164 0 1973 TORTOISE CAP RES CORP COM COM 89147N304 163 13730 SH SOLE 3770 0 9960 TOTAL SA ADR SPONSORED FRN 89151E109 2149 25200 SH SOLE 23509 0 1691 TRANSOCEAN INC COM NEW FRN G90073100 17283 113415 SH SOLE 94597 0 18818 TRANSURBAN GROUP STAPLES SEC FRN Q9194A106 49 12675 SH SOLE 12675 0 0 TRAPEZA PARTNERS IV LIMITE COM BT3890507 448 447869 SH SOLE 447869 0 0 TRINITY INDS INC COM 896522109 235 6782 SH SOLE 6580 0 202 T-3 ENERGY SVCS INC COM COM 87306E107 284 3578 SH SOLE 3578 0 0 U S BANCORP COM 902973304 335 12027 SH SOLE 7554 0 4473 UNILEVER N V WI FRN 904784709 1714 60348 SH SOLE 50398 0 9950 UNION PAC CORP COM 907818108 1016 13452 SH SOLE 13396 0 56 UNITED FINANCIAL BANCORP INC C COM 91030T109 157 14050 SH SOLE 14050 0 0 UNITED ONLINE INC COM COM 911268100 222 22177 SH SOLE 21403 0 774 UNITED PARCEL SVC INC CL B COM 911312106 410 6669 SH SOLE 3730 0 2939 UNITED TECHNOLOGIES CORP COM 913017109 913 14801 SH SOLE 12651 0 2150 UNITEDHEALTH GROUP INC COM 91324P102 2420 92202 SH SOLE 81151 0 11051 UNIVERSAL HEALTH SVCS INC CL B COM 913903100 876 13856 SH SOLE 13324 0 532 URBAN OUTFITTERS INC COM COM 917047102 514 16494 SH SOLE 15298 0 1196 UST INC COM 902911106 1942 35561 SH SOLE 5913 0 29648 UTILISOURCE CORP COM COM 91800U104 1 50000 SH SOLE 50000 0 0 VALERO REFNG & MARKETING CO CO COM 91913Y100 396 9626 SH SOLE 7726 0 1900 VALSPAR CORP COM COM 920355104 821 43403 SH SOLE 32556 0 10847 VALUE PARTNERS GROUP LIMITEDSH FRN G93175100 5707 6485000 SH SOLE 5499000 0 986000 VCA ANTECH INC COM COM 918194101 267 9625 SH SOLE 8405 0 1220 VECTREN CORP COM COM 92240G101 2252 72170 SH SOLE 57515 0 14655 VERIZON COMMUNICATIONS COM 92343V104 3435 97030 SH SOLE 81103 0 15927 VIROPHARMA INC COM COM 928241108 140 12693 SH SOLE 12304 0 389 VISA INC COM CL A COM 92826C839 220 2700 SH SOLE 1000 0 1700 VISHAY INTERTECHNOLOGY COM 928298108 214 24139 SH SOLE 23043 0 1096 VITERRA INC COM FRN 92849T108 14183 1033164 SH SOLE 875739 0 157425 VODAFONE GROUP INC FRN 92857W209 278 9434 SH SOLE 9234 0 200 WAL MART STORES INC COM 931142103 4498 80028 SH SOLE 66649 0 13379 WALGREEN COMPANY COM 931422109 459 14130 SH SOLE 11469 0 2661 WALT DISNEY COMPANY COM 254687106 4463 143030 SH SOLE 119947 0 23083 WAL-MART DE MEXICO S A DE C OR FRN P98180105 502 126818 SH SOLE 126818 0 0 WASHINGTON MUT INC COM COM 939322103 95 19213 SH SOLE 968 0 18245 WASTE MANAGEMENT INC COM 94106L109 2653 70357 SH SOLE 66330 0 4027 WATERS CORP COM COM 941848103 232 3602 SH SOLE 2202 0 1400 WEATHERFORD INTL LTD NEW FRN G95089101 462 9320 SH SOLE 3300 0 6020 WELLPOINT INC COM 94973V107 1022 21451 SH SOLE 18021 0 3430 WELLS FARGO NEW COM 949746101 234 9848 SH SOLE 3306 0 6542 WESTERN DIGITAL CORPORATION COM 958102105 7723 223669 SH SOLE 8822 0 214847 WESTERN UN CO COM COM 959802109 327 13216 SH SOLE 12166 0 1050 WHOLE FOODS MKT INC COM COM 966837106 775 32724 SH SOLE 28091 0 4633 WILLIAMS CO COM 969457100 490 12162 SH SOLE 12162 0 0 WINDSTREAM CORP COM COM 97381W104 760 61611 SH SOLE 50411 0 11200 WIRELESS AGE COMMUNICATIONS CO COM 976527101 3 10000 SH SOLE 0 0 10000 WISCONSIN ENERGY CORP COM 976657106 293 6475 SH SOLE 6475 0 0 WOODWARD GOVERNOR CO COM COM 980745103 353 9895 SH SOLE 9800 0 95 WYETH COM 983024100 2061 42981 SH SOLE 32314 0 10667 WYNN RESORTS LTD COM COM 983134107 219 2692 SH SOLE 2552 0 140 XILINX INC COM 983919101 304 12045 SH SOLE 11853 0 192 XL CAPITAL LTD. FRN G98255105 1094 53206 SH SOLE 49277 0 3929 XTO ENERGY INC COM COM 98385X106 1331 19434 SH SOLE 17296 0 2138 YAMANA GOLD INC COM FRN 98462Y100 4192 253421 SH SOLE 226469 0 26952 YOUBET COM INC COM COM 987413101 17 13000 SH SOLE 13000 0 0 YUM BRANDS INC COM COM 988498101 1820 51879 SH SOLE 42266 0 9613 ZIMMER HLDGS INC COM COM 98956P102 1353 19880 SH SOLE 15735 0 4145