13F-HR 1 sec13f4qtr2008.txt SEC13F4QTR2008 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, 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 December 31, 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: 12/31/08 RUN DATE: 01/20/09 2:47 P.M. REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 441 FORM 13F INFORMATION TABLE VALUE TOTAL: (x$1000) $755866 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME PORTVUE-SEC13F.LNP STIFEL NICOLAUS & CO., INC. PAGE 1 RUN DATE: 10/01/08 12:41 P.M. FORM 13F INFORMATION TABLE AS OF DATE: 09/30/08 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 764 335095 SH SOLE 2500 0 332595 3M COMPANY COM COM 88579Y101 636 11048 SH SOLE 5317 0 5731 A T & T INC (NEW) COM 00206R102 4499 157855 SH SOLE 137276 0 20579 ABB LTD ADR SPONSORED FRN 000375204 150 10025 SH SOLE 9625 0 400 ABBOTT LABS COM 002824100 15299 286651 SH SOLE 254819 0 31832 ACCENTURE LTD SHS CL A FRN G1150G111 342 10425 SH SOLE 9925 0 500 ACTUANT CORP CL A NEW COM 00508X203 311 16349 SH SOLE 15992 0 357 AER ENERGY RES INC COM 000944108 0 41609 SH SOLE 41609 0 0 AFLAC INC COM 001055102 1724 37604 SH SOLE 31852 0 5752 AGCO CORP COM 001084102 889 37681 SH SOLE 29729 0 7952 AIR PRODS & CHEMS INC COM 009158106 1640 32614 SH SOLE 30333 0 2281 AIR TRANSPORT SERVICES GROUP COM 00922R105 6 31450 SH SOLE 30950 0 500 AIRTRAN HOLDINGS INC COM 00949P108 78 17600 SH SOLE 7600 0 10000 AK STL HLDG CORP COM 001547108 348 37379 SH SOLE 35016 0 2363 ALASKA AIRGROUP COM 011659109 688 23526 SH SOLE 21843 0 1683 ALCOA INC COM COM 013817101 173 15333 SH SOLE 12869 0 2464 ALLIANT CORP COM COM 018802108 228 7813 SH SOLE 7713 0 100 ALLSTATE CORP COM 020002101 2209 67429 SH SOLE 61230 0 6199 ALTERA CORP COM 021441100 418 25000 SH SOLE 2500 0 22500 ALTRIA GROUP INC COM COM 02209S103 3801 252375 SH SOLE 206220 0 46155 AMEDISYS INC COM COM 023436108 586 14166 SH SOLE 14069 0 97 AMEREN CORP COM COM 023608102 890 26750 SH SOLE 15100 0 11650 AMERICAN EXPRESS CO COM 025816109 555 29914 SH SOLE 15563 0 14351 AMERICAN INTL GROUP INC COM 026874107 50 31888 SH SOLE 26799 0 5089 AMERICAN TOWER CORP CL A COM 029912201 312 10640 SH SOLE 9115 0 1525 AMGEN INC COM 031162100 635 10988 SH SOLE 9488 0 1500 AMPHENOL CORP NEW CL A COM 032095101 246 10265 SH SOLE 9879 0 386 ANADARKO PETE CORP COM 032511107 3242 84108 SH SOLE 79292 0 4816 ANNALY MTG MGMT INC COM COM 035710409 723 45536 SH SOLE 40216 0 5320 APACHE CORP COM 037411105 1016 13629 SH SOLE 12904 0 725 APOLLO GROUP INC CL A COM 037604105 1560 20358 SH SOLE 18826 0 1532 APPLE COMPUTER INC COM 037833100 1088 12744 SH SOLE 9791 0 2953 APTARGROUP INC COM COM 038336103 532 15084 SH SOLE 14984 0 100 ARCHER DANIELS MIDLAND COM 039483102 3308 114726 SH SOLE 99266 0 15460 ARRIS GROUP INC COM 04269Q100 90 11318 SH SOLE 10864 0 454 ARTISTIC MEDIA PARTNERS INC CL COM BT1218338 0 11700 SH SOLE 11700 0 0 ASH GROVE CEM CO COM COM 043693100 1308 6086 SH SOLE 5796 0 290 AVID TECHNOLOGY INC COM COM 05367P100 310 28449 SH SOLE 0 0 28449 AVON PRODUCTS INC COM 054303102 275 11437 SH SOLE 10534 0 903 AXSYS TECHNOLOGIES INC COM COM 054615109 209 3808 SH SOLE 3449 0 359 BAKER HUGHES INC COM COM 057224107 448 13956 SH SOLE 13237 0 719 BALDWIN & LYONS INC CL B COM 057755209 664 36531 SH SOLE 33006 0 3525 BALL CORP COM 058498106 236 5663 SH SOLE 5512 0 151 BANK AMERICA CORP COM 060505104 569 40398 SH SOLE 27325 0 13073 BANK OF AMERICA CORPORATION PF PFD 060505815 508 42200 SH SOLE 35000 0 7200 BARCLAYS BK PLC ADR FRN 06738C828 7125 125000 SH SOLE 100000 0 25000 BARRETT BILL CORP COM COM 06846N104 364 17205 SH SOLE 857 0 16348 BARRICK GOLD CORP FRN 067901108 1241 33744 SH SOLE 30364 0 3380 BAXTER INTL INC COM COM 071813109 1405 26224 SH SOLE 8742 0 17482 BE AEROSPACE INC COM COM 073302101 1325 172361 SH SOLE 142884 0 29477 BEHAVIORAL RECOGNITION SYSTEM COM BT1308596 150 50000 SH SOLE 50000 0 0 BEIJING CAP INTL ARPT CO LTD FRN Y07717104 58 118762 SH SOLE 103762 0 15000 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 2608 27 SH SOLE 24 0 3 BERKSHIRE HATHAWAY INC DEL CL COM 084670207 19274 5997 SH SOLE 5245 0 752 BEST BUY INC COM COM 086516101 255 9077 SH SOLE 8611 0 466 BIOGEN IDEC INC COM 09062X103 514 10801 SH SOLE 10104 0 697 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 3021 70789 SH SOLE 51762 0 19027 BON-TON STORES INC COM COM 09776J101 27 26290 SH SOLE 26290 0 0 BORDERS GROUP INC COM COM 099709107 6 15600 SH SOLE 2300 0 13300 BOSTON SCIENTIFIC CORP COM 101137107 1569 202654 SH SOLE 4417 0 198237 BOUNCEBACKTECHNOLOGIES COM ICO COM 101628105 34 338000 SH SOLE 338000 0 0 BP AMOCO ADS FRN 055622104 3164 67687 SH SOLE 65722 0 1965 BP PRUDHOE BAY RTY TR UNIT BEN COM 055630107 211 2875 SH SOLE 2575 0 300 BRISTOL MYERS SQUIBB CO COM 110122108 4545 195472 SH SOLE 189110 0 6362 BROCADE COMMUNICATIONS SYSTEMS COM 111621306 70 24784 SH SOLE 23790 0 994 BROOKFIELD ASSET MANAGEMENT IN FRN 112585104 166 10901 SH SOLE 9814 0 1087 BUNGE LIMITED COM FRN G16962105 2688 51920 SH SOLE 47730 0 4189 BURGER KING HLDGS INC COM COM 121208201 627 26247 SH SOLE 19697 0 6550 BURLINGTON NTHN SANTA FE COM 12189T104 257 3399 SH SOLE 3236 0 163 CABELAS INC COM COM 126804301 455 78070 SH SOLE 600 0 77470 CABLEVISION SYS CORP COM 12686C109 1715 101837 SH SOLE 95677 0 6160 CALUMET SPECIALTY PRODS PTNRUT COM 131476103 2431 277522 SH SOLE 249465 0 28057 CAMECO CORP COM FRN 13321L108 1080 62613 SH SOLE 59512 0 3101 CAMPBELL FUND TRUST LTD PA COM BT3889840 1750 689 SH SOLE 584 0 105 CAMPBELL SOUP CO COM 134429109 1200 39984 SH SOLE 37332 0 2652 CANADIAN NAT RES LTD COM FRN 136385101 3694 92398 SH SOLE 83913 0 8485 CANADIAN NATL RY CO FRN 136375102 599 16288 SH SOLE 15648 0 640 CANADIAN PAC RY LTD FRN 13645T100 345 10254 SH SOLE 9154 0 1100 CAPITOL FED FINL COM COM 14057C106 215 4720 SH SOLE 4420 0 300 CARDICA INC COM COM 14141R101 78 22374 SH SOLE 22374 0 0 CARDINAL HEALTH INC COM 14149Y108 212 6143 SH SOLE 1660 0 4483 CARLISLE COS INC COM COM 142339100 212 10242 SH SOLE 10095 0 147 CATERPILLAR INC COM 149123101 2297 51420 SH SOLE 47504 0 3916 CBIZ INC COM COM 124805102 87 10000 SH SOLE 0 0 10000 CBS CORP NEW CL B COM 124857202 821 100286 SH SOLE 8241 0 92045 CEDAR FAIR L P DEP UNITS COM 150185106 148 11817 SH SOLE 11417 0 400 CELGENE CORP COM COM 151020104 960 17370 SH SOLE 15364 0 2006 CEMEX S A ADR SPSRD NEW FRN 151290889 336 36722 SH SOLE 29455 0 7267 CENTERPOINT ENERGY INC COM COM 15189T107 1172 92877 SH SOLE 86501 0 6376 CENTURY PETE CORP COM COM 156661100 2 20000 SH SOLE 0 0 20000 CENTURYTEL, INC COM 156700106 4078 149198 SH SOLE 132484 0 16714 CHARTER COMMUNICATIONS INC DCL COM 16117M107 1 14925 SH SOLE 14525 0 400 CHESAPEAKE ENERGY CORP COM COM 165167107 4875 301459 SH SOLE 20105 0 281354 CHEVRONTEXACO CORPORATION COM 166764100 3777 51064 SH SOLE 41263 0 9801 CHICAGO BRIDGE & IRON CO N Y R FRN 167250109 1474 146659 SH SOLE 116433 0 30226 CINCINNATI BELL INC NEW COM COM 171871106 19 10000 SH SOLE 10000 0 0 CINCINNATI FINL CORP COM COM 172062101 301 10365 SH SOLE 10365 0 0 CINTAS CORP COM 172908105 401 17254 SH SOLE 16287 0 967 CISCO SYS INC COM 17275R102 2644 162236 SH SOLE 130343 0 31893 CITIGROUP CAP VIII CAP 6.95% T PFD 17306R204 1322 77678 SH SOLE 76515 0 1163 CITIGROUP INC. COM 172967101 109 16211 SH SOLE 14211 0 2000 CLIFFS NATURAL RESOURCES INC COM 18683K101 310 12109 SH SOLE 8975 0 3134 CLOROX CO COM 189054109 215 3875 SH SOLE 3695 0 180 COACH INC COM COM 189754104 441 21215 SH SOLE 20053 0 1162 COCA COLA CO COM 191216100 3728 82352 SH SOLE 64341 0 18011 COLGATE PALMOLIVE CO COM 194162103 964 14066 SH SOLE 10291 0 3775 COLONIAL CAPITAL TR IV 7.875% PFD 19560Q203 210 17110 SH SOLE 3700 0 13410 COMCAST CORP CL A SPL COM 20030N200 633 39178 SH SOLE 24719 0 14459 COMCAST CORP NEW COM CL A COM 20030N101 4477 265231 SH SOLE 226031 0 39200 COMERICA INC COM COM 200340107 253 12769 SH SOLE 12769 0 0 COMMSCOPE INC COM COM 203372107 438 28200 SH SOLE 17600 0 10600 COMMUNITY BANKSHARES INC COLCD COM 20364D109 1007 26500 SH SOLE 24000 0 2500 CONAGRA INC COM 205887102 370 22430 SH SOLE 18216 0 4213 CONOCOPHILLIPS COM COM 20825C104 1521 29372 SH SOLE 16794 0 12578 CONSOL ENERGY INC COM COM 20854P109 1680 58767 SH SOLE 49213 0 9554 CORNING INC COM 219350105 151 15844 SH SOLE 9000 0 6844 CROWN MEDIA HLDGS INC CL A COM 228411104 1484 520650 SH SOLE 489675 0 30975 CUNDILL GLOBAL VALUE LIMITE COM BT3888151 3153 3152659 SH SOLE 2493734 0 658926 CVS CORP COM 126650100 2113 73509 SH SOLE 66728 0 6781 DAKOTA MNG CORP COM FRN 23423G105 0 11818 SH SOLE 11818 0 0 DEERE & CO. COM 244199105 614 16035 SH SOLE 13730 0 2305 DELTIC TIMBER CORP COM COM 247850100 252 5500 SH SOLE 5500 0 0 DENALI FD INC PFD SER A PFD 24823A201 375 15 SH SOLE 15 0 0 DETOUR GOLD CORPORATION COM COM 250669108 586 87950 SH SOLE 79025 0 8925 DEVON ENERGY CORP NEW COM COM 25179M103 629 9571 SH SOLE 3591 0 5980 DEVRY INC COM COM 251893103 386 6725 SH SOLE 6300 0 425 DIAGEO PLC NEW SPN ADR E FRN 25243Q205 1175 20704 SH SOLE 18589 0 2115 DIAMOND FOODS INC COM COM 252603105 232 11492 SH SOLE 11492 0 0 DIANA SHIPPING INC COM FRN Y2066G104 279 21865 SH SOLE 14790 0 7075 DISH NETWORK CORPORATION COM 25470M109 220 19850 SH SOLE 17150 0 2700 DOMINION RES INC VA NEW COM COM 25746U109 634 17686 SH SOLE 17126 0 560 DOW CHEMICAL CORP COM 260543103 503 33323 SH SOLE 27333 0 5990 DPL INC COM COM 233293109 630 27578 SH SOLE 26442 0 1136 DRESS BARN INC COM COM 261570105 118 11000 SH SOLE 0 0 11000 DTE ENERGY CO COM COM 233331107 1239 34728 SH SOLE 32303 0 2425 DU PONT E I DE NEMOURS CO COM 263534109 1787 70634 SH SOLE 64273 0 6361 DUKE ENERGY CORP COM 26441C105 494 32938 SH SOLE 31903 0 1035 E M C CORP MASS COM COM 268648102 112 10742 SH SOLE 9342 0 1400 EATON CORP COM 278058102 605 12176 SH SOLE 11876 0 300 EATON VANCE MUN PFDINCOME PFD 27826U306 250 10 SH SOLE 10 0 0 EBAY INC COM COM 278642103 831 59533 SH SOLE 50607 0 8926 ECOLAB INC COM 278865100 213 6060 SH SOLE 5269 0 792 EDISON INTERNATIONAL COM 281020107 864 26894 SH SOLE 24825 0 2069 EDWARDS LIFESCIENCES CORP COM COM 28176E108 365 6645 SH SOLE 0 0 6645 EL PASO CORPORATION COM 28336L109 2095 267553 SH SOLE 229703 0 37850 ELAN PLC FRN 284131208 99 16465 SH SOLE 6065 0 10400 EMAGEON INC COM COM 29076V109 64 34746 SH SOLE 34746 0 0 EMBARQ CORP COM COM 29078E105 8568 238251 SH SOLE 206151 0 32100 EMERSON ELEC CO COM 291011104 5326 145475 SH SOLE 122282 0 23192 EMMIS COMMUNICATIONS CORP CL A COM 291525103 7 19000 SH SOLE 17600 0 1400 ENCANA CORP COM FRN 292505104 1477 31768 SH SOLE 23893 0 7875 ENTERPRISE FINL SVCS CORP COM COM 293712105 374 24540 SH SOLE 24040 0 500 ENTERPRISE PRODS PARTNERS L CO COM 293792107 243 11713 SH SOLE 9801 0 1912 ENVIRONMENTAL SOLUTIONS WRLDCO COM 29408K102 1 11750 SH SOLE 11750 0 0 EXELON CORP COM COM 30161N101 241 4340 SH SOLE 4105 0 235 EXXON CORPORATION COM 30231G102 10127 126853 SH SOLE 106776 0 20077 FARMERS BANCRP FRANKFORT INDCD COM 30887A102 326 14802 SH SOLE 11973 0 2829 FED HOME LN MTG COM 313400301 17 22650 SH SOLE 20450 0 2200 FEDERAL NAT MORTGAGE ASSN VOTI COM 313586109 50 65328 SH SOLE 1500 0 63828 FINANCIAL STOCKS CAPITA COM BT3889270 820 820216 SH SOLE 557747 0 262469 FINANCIAL STOCKS CAPITAL PARTN COM BT3890500 426 425536 SH SOLE 279638 0 145898 FINANCIAL STOCKS CAPITALPARTNE COM BT3889517 27 27477 SH SOLE 27477 0 0 FINANCIAL STOCKS CAPITALPARTNE COM BT3889516 236 235795 SH SOLE 235795 0 0 FINANCIAL STOCKS CLASS ALTD PA COM BT3889239 1268 1268180 SH SOLE 990749 0 277431 FIRST INTERNET BANCORP COM 320557101 1011 111059 SH SOLE 89609 0 21450 FIRST MARBLEHEAD CORP COM COM 320771108 28 21650 SH SOLE 21650 0 0 FIRST SOLAR INC COM COM 336433107 291 2106 SH SOLE 2050 0 56 FIRSTENERGY CORP COM COM 337932107 3220 66291 SH SOLE 63706 0 2585 FIRSTMERIT CORP COM COM 337915102 2065 100310 SH SOLE 56746 0 43564 FISERV INC COM COM 337738108 248 6809 SH SOLE 6440 0 369 FLEXTRONICS INTL LTD ORD FRN Y2573F102 61 23903 SH SOLE 21974 0 1929 FLUOR CORP NEW COM COM 343412102 1232 27458 SH SOLE 26146 0 1312 FOSTER WHEELER LTD SHS NEW FRN G36535139 1354 57902 SH SOLE 42547 0 15355 FPL GROUP INC COM COM 302571104 585 11621 SH SOLE 9428 0 2193 FRANKLIN ELEC INC COM COM 353514102 305 10835 SH SOLE 10835 0 0 FREEPORT MCMORAN COPPER & GOLD COM 35671D857 227 9271 SH SOLE 7577 0 1694 FRONTIER COMMUNICATIONS CORP C COM 35906A108 2876 329030 SH SOLE 289137 0 39893 GENERAL CABLE CORP DEL NEW COM COM 369300108 221 12505 SH SOLE 5560 0 6945 GENERAL DYNAMICS CORP COM COM 369550108 404 7014 SH SOLE 5921 0 1093 GENERAL ELEC CO COM 369604103 5399 333302 SH SOLE 291635 0 41667 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REIT INC COM COM 42217K106 382 9063 SH SOLE 8323 0 740 HEALTH PROFESSIONALS INCRESTRI COM BT2258144 0 168000 SH SOLE 0 0 168000 HEALTHSOUTH CORP COM 421924309 989 90266 SH SOLE 70977 0 19289 HEALTHWAYS INC COM 422245100 1422 123836 SH SOLE 97235 0 26601 HEINZ, H J COMPANY COM 423074103 605 16086 SH SOLE 9386 0 6700 HELIX ENERGY SOLUTIONS GRP INC COM 42330P107 817 112865 SH SOLE 1000 0 111865 HEWLETT PACKARD CO COM 428236103 1112 30637 SH SOLE 19466 0 11171 HEXCEL CORP NEW COM COM 428291108 720 97471 SH SOLE 3811 0 93660 HHGREGG INC COM COM 42833L108 87 10000 SH SOLE 10000 0 0 HORMEL GEO A & CO COM 440452100 367 11810 SH SOLE 11556 0 254 HOSPIRA INC COM COM 441060100 330 12296 SH SOLE 11720 0 576 HOST MARRIOTT CORP NEW COM COM 44107P104 86 11426 SH SOLE 11236 0 190 HSBC HOLDINGS PLC FRN 404280406 957 19661 SH SOLE 18360 0 1301 HUANENG PWR INTL INC ADR SPONS FRN 443304100 398 13642 SH SOLE 12504 0 1138 HUDSON CITY BANCORP INC COM COM 443683107 765 47910 SH SOLE 39090 0 8820 HUNTINGTON BANCSHARES INC COM 446150104 596 77858 SH SOLE 63682 0 14176 I B M COM 459200101 1415 16811 SH SOLE 12349 0 4462 INGRAM MICRO INC CL A COM 457153104 143 10711 SH SOLE 10124 0 587 INTEGRYS ENERGY GROUP INC COM 45822P105 1793 41728 SH SOLE 38570 0 3158 INTEL CORP COM 458140100 806 54965 SH SOLE 45628 0 9337 INTERNATIONAL COAL GRP INC NCO COM 45928H106 138 60075 SH SOLE 54400 0 5675 INTERNATIONAL GAME TECH COM 459902102 1801 151471 SH SOLE 139202 0 12269 INTERNATIONAL TIME RES INC COM FRN 46049W105 1 18000 SH SOLE 18000 0 0 INTUITIVE SURGICAL INC COM NEW COM 46120E602 239 1880 SH SOLE 1827 0 53 IOWA TELECOMMUNICATION SVCS CO COM 462594201 502 35160 SH SOLE 22860 0 12300 J ALEXANDER CORP COM COM 466096104 32 13500 SH SOLE 12500 0 1000 J.P. 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FRN R2326D105 3 22000 SH SOLE 22000 0 0 MASTERCARD INC COM COM 57636Q104 1343 9397 SH SOLE 7730 0 1667 MBIA INC COM 55262C100 286 70161 SH SOLE 4436 0 65725 MCAFEE INC COM 579064106 253 7322 SH SOLE 7122 0 200 MCDONALDS CORP COM 580135101 3043 48934 SH SOLE 37742 0 11191 MEDCO HEALTH SOLUTIONS INC COM COM 58405U102 602 14355 SH SOLE 12740 0 1615 MEDINAH MINERALS INC COM COM 58489M109 2 230000 SH SOLE 230000 0 0 MEDTRONIC INC COM 585055106 2201 70047 SH SOLE 51463 0 18584 MEMC ELECTR MATLS INC COM 552715104 680 47622 SH SOLE 42909 0 4713 MERCK & CO INC COM 589331107 3277 107791 SH SOLE 88948 0 18843 MICROCHIP TECHNOLOGY INC COM COM 595017104 1109 56764 SH SOLE 52534 0 4230 MICROSOFT CORP COM 594918104 7958 409360 SH SOLE 346050 0 63310 MINERALS MINING CORP DEL COM 603156100 27 181278 SH SOLE 113299 0 67979 MITSUBISHI HEAVY INDS LTD COM FRN J44002129 44 10000 SH SOLE 10000 0 0 MIVA INC COM COM 55311R108 59 322136 SH SOLE 80761 0 241375 MOLEX INC COM 608554101 518 35776 SH SOLE 33278 0 2498 MOMENTA PHARMACEUTICALS INC CO COM 60877T100 127 10934 SH SOLE 10934 0 0 MONSANTO CO NEW COM COM 61166W101 1278 18162 SH SOLE 13704 0 4458 MTR GAMING GROUP INC COM COM 553769100 57 33900 SH SOLE 16950 0 16950 MYRIAD GENETICS INC COM COM 62855J104 281 4241 SH SOLE 3958 0 283 NATIONAL BANCSHARES CORP OHICO COM 632592101 1417 112457 SH SOLE 29229 0 83228 NATIONAL CITY CORP COM 635405103 46 25490 SH SOLE 21090 0 4400 NATIONAL-OILWELL INC COM COM 637071101 8843 361842 SH SOLE 286832 0 75010 NATL BK OF INDNPLS CORP COM 633717103 1318 26898 SH SOLE 26898 0 0 NCI INC CL A COM 62886K104 246 8167 SH SOLE 7957 0 210 NESTLE S A SPON ADR REG FRN 641069406 814 20492 SH SOLE 19064 0 1428 NETMED INC OHIO COM COM 64114Q101 0 42900 SH SOLE 42900 0 0 NEWMONT MNG CORP COM 651639106 295 7249 SH SOLE 7249 0 0 NII HLDGS INC CL B NEW COM 62913F201 282 15539 SH SOLE 12589 0 2950 NIKE INC CLASS B COM 654106103 832 16322 SH SOLE 12949 0 3373 NMT MED INC COM COM 629294109 217 230530 SH SOLE 2500 0 228030 NOBLE GROUP LTD SHS FRN G6542T119 243 341800 SH SOLE 334800 0 7000 NOKIA CORP FRN 654902204 3487 223499 SH SOLE 197289 0 26210 NORFOLK SOUTHN CORP COM 655844108 522 11090 SH SOLE 5090 0 6000 NORTHERN TRUST CORP COM 665859104 278 5326 SH SOLE 4546 0 780 NORTHROP GRUMMAN CORP COM COM 666807102 923 20494 SH SOLE 18798 0 1696 NOVATEL WIRELESS INC COM NEW COM 66987M604 622 134017 SH SOLE 23989 0 110028 NOVO-NORDISK A S ADR FRN 670100205 544 10576 SH SOLE 9526 0 1050 NSTAR COM COM 67019E107 578 15850 SH SOLE 13937 0 1913 NUCOR CORP COM 670346105 8124 175838 SH SOLE 156819 0 19019 OCWEN FINANCIAL CORP NEW COM 675746309 133 14450 SH SOLE 13350 0 1100 OLD SECOND BANCORP INC ILL COM COM 680277100 155 13332 SH SOLE 13332 0 0 ONEOK PARTNERS L P COM 68268N103 213 4685 SH SOLE 4275 0 410 ORACLE SYS CORP COM 68389X105 380 21411 SH SOLE 20287 0 1124 OXYGEN BIOTHERAPEUTICS INC COM COM 69207P100 24 100000 SH SOLE 0 0 100000 PABRAI INVESTMENT FUND 3 LIMI COM BT3890508 1230 120873 SH SOLE 87391 0 33482 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COM 717081103 8940 504823 SH SOLE 442880 0 61943 PHILIP MORRIS INTL INC COM COM 718172109 8888 204264 SH SOLE 171678 0 32586 PIEDMONT NAT GAS INC COM COM 720186105 855 26999 SH SOLE 24863 0 2136 PINNACLE AIRL CORP COM COM 723443107 34 19950 SH SOLE 17950 0 2000 PIONEER MUNICIPAL HIGH INCOME PFD 723763306 275 11 SH SOLE 0 0 11 PLAYERS NETWORK COM COM 72811P102 1 10000 SH SOLE 10000 0 0 PLUM CREEK TIMBER CO INC COM COM 729251108 5623 161862 SH SOLE 145274 0 16588 PNC FINANCIAL CORP COM 693475105 564 11501 SH SOLE 8115 0 3386 POSITRON CORP COM COM 737397109 1 16500 SH SOLE 16500 0 0 POTASH CORP SASK INC FRN 73755L107 723 9877 SH SOLE 7912 0 1965 PPL CORP COM COM 69351T106 924 30109 SH SOLE 22478 0 7631 PRAXAIR INC COM 74005P104 292 4924 SH SOLE 3458 0 1466 PRECISION CASTPARTS CORP COM COM 740189105 550 9243 SH SOLE 8608 0 635 PROCTER & GAMBLE COMPANY COM 742718109 3542 57299 SH SOLE 49141 0 8158 QUALCOMM INC COM COM 747525103 1039 29004 SH SOLE 24582 0 4422 QUANTA SVCS INC COM COM 74762E102 1570 79270 SH SOLE 53115 0 26155 QUEST DIAGNOSTICS INC COM COM 74834L100 428 8237 SH SOLE 8070 0 167 QUEST SOFTWARE INC COM COM 74834T103 983 78111 SH SOLE 61560 0 16551 RAYMOND JAMES FINL INC COM COM 754730109 542 31618 SH SOLE 30271 0 1347 RAYONIER INC COM COM 754907103 6015 191852 SH SOLE 170527 0 21325 RAYTHEON CO NEW COM COM 755111507 504 9876 SH SOLE 9152 0 724 RELIANT RES INC COM COM 75952B105 213 36856 SH SOLE 36856 0 0 RESEARCH FRONTIERS INC COM COM 760911107 30 13851 SH SOLE 13851 0 0 RESEARCH IN MOTION LTD COM FRN 760975102 759 18695 SH SOLE 17133 0 1562 ROCKWELL COLLINS INC COM COM 774341101 283 7247 SH SOLE 3395 0 3852 ROCKWELL INTL CORP NEW COM COM 773903109 228 7070 SH SOLE 3470 0 3600 ROGERS COMMUNICATIONS INC CL B FRN 775109200 579 19241 SH SOLE 18347 0 894 ROYAL DUTCH SHELL PLC SPONS AD FRN 780259206 451 8515 SH SOLE 6895 0 1620 SAN JUAN BASIN RTY TR UNIT BEN COM 798241105 216 6975 SH SOLE 4675 0 2300 SANOFI-SYNTHELABO SPONSORED AD FRN 80105N105 298 9268 SH SOLE 8720 0 548 SAPPORO BREWERIES LTD ORD FRN J69413128 3424 555275 SH SOLE 490725 0 64550 SCHERING PLOUGH CORP COM 806605101 285 16763 SH SOLE 13945 0 2818 SCHLUMBERGER COM 806857108 455 10747 SH SOLE 8796 0 1951 SEASPAN CORP SHS FRN Y75638109 510 57390 SH SOLE 51115 0 6275 SEMPRA ENERGY CORP COM COM 816851109 955 22403 SH SOLE 19753 0 2650 SHAW GROUP INC COM COM 820280105 1889 92271 SH SOLE 70538 0 21733 SIGMA ALDRICH CORP COM 826552101 3100 73390 SH SOLE 59827 0 13563 SIMON PPTY GROUP INC NEW COM COM 828806109 432 8124 SH SOLE 7712 0 412 SIRIUS XM RADIO INC COM COM 82967N108 6 51585 SH SOLE 46135 0 5450 SL GREEN RLTY CORP COM COM 78440X101 1333 51458 SH SOLE 40369 0 11089 SONOCO PRODUCTS COM 835495102 708 30555 SH SOLE 22457 0 8098 SOUTHERN AFRICA FUND XXXSUBMIT COM 842ESC105 0 11191 SH SOLE 9841 0 1350 SOUTHERN CO COM 842587107 334 9030 SH SOLE 8343 0 687 SOUTHWEST AIRLS CO COM 844741108 121 13983 SH SOLE 8835 0 5148 SPECTRUM BRANDS INC COM 84762L105 5 51980 SH SOLE 400 0 51580 SPRINT CORP COM 852061100 141 77165 SH SOLE 62610 0 14554 STARBUCKS CORP COM COM 855244109 224 23676 SH SOLE 18789 0 4887 STATE STREET CORP COM 857477103 713 18129 SH SOLE 17348 0 781 STERIS CORP COM 859152100 215 8998 SH SOLE 8890 0 108 STIFEL FINL CORP COM COM 860630102 1379 30078 SH SOLE 18467 0 11611 STRATEGIC HOTEL CAP INC COM COM 86272T106 34 20000 SH SOLE 20000 0 0 STRAYER ED INC COM COM 863236105 554 2585 SH SOLE 2460 0 125 STRYKER CORP COM COM 863667101 483 12093 SH SOLE 12018 0 75 SUCAMPO PHARMACEUTICALS INC CL COM 864909106 94 16287 SH SOLE 16287 0 0 SUNCOR INC COM FRN 867229106 454 23274 SH SOLE 21709 0 1565 SUN-TIMES MEDIA GROUP INC COM COM 86688Q100 1 20150 SH SOLE 0 0 20150 SYMANTEC CORP COM COM 871503108 167 12386 SH SOLE 3473 0 8913 SYNERGETICS USA INC COM 87160G107 13 14000 SH SOLE 14000 0 0 SYSCO CORPORATION COM 871829107 493 21507 SH SOLE 19253 0 2254 TAIWAN SEMICONDUCTOR MFG CO AD FRN 874039100 857 108505 SH SOLE 100181 0 8324 TALISMAN ENERGY INC COM FRN 87425E103 4532 453637 SH SOLE 402737 0 50900 TARGET CORP COM 87612E106 443 12840 SH SOLE 12500 0 340 TELE NORTE LESTE PARTICIPACOAD FRN 879246106 190 13663 SH SOLE 12352 0 1311 TELEPHONE & DATA SYS INC COM COM 879433100 874 27528 SH SOLE 23108 0 4420 TELEPHONE & DATA SYS INC SPL C COM 879433860 808 28757 SH SOLE 23187 0 5570 TELLABS INC COM 879664100 101 24462 SH SOLE 24462 0 0 TERADYNE INC COM 880770102 106 25013 SH SOLE 24768 0 245 TEVA PHARMACEUTICAL INDS FRN 881624209 1870 43926 SH SOLE 33486 0 10440 TEXTRON INC COM 883203101 1360 98088 SH SOLE 14928 0 83160 THE MOSIAC COMPANY COM 61945A107 4458 128831 SH SOLE 114611 0 14220 THERATECHNOLOGIES INC COM COM 88338H100 74 45000 SH SOLE 0 0 45000 THERMADYNE HLDGS CORP NEW COM COM 883435307 154 22357 SH SOLE 22126 0 231 THERMO ELECTRON CORP COM 883556102 534 15665 SH SOLE 14188 0 1477 THOMAS & BETTS CORP COM COM 884315102 240 10007 SH SOLE 9266 0 741 THORATEC LABS CORP COM NEW COM 885175307 398 12245 SH SOLE 12046 0 199 TIANJIN PORT DEVELOPMENTHOLDIN FRN G88680106 6 25000 SH SOLE 23000 0 2000 TIME WARNER INC COM 887317105 244 24276 SH SOLE 14675 0 9601 TIMKEN CO COM COM 887389104 305 15547 SH SOLE 15147 0 400 TITAN INTL INC ILL COM COM 88830M102 92 11102 SH SOLE 10799 0 303 TITAN PHARMACEUTCLS INC DEL CO COM 888314101 1 30000 SH SOLE 30000 0 0 TORTOISE CAP RES CORP COM COM 89147N304 66 14730 SH SOLE 4770 0 9960 TOTAL SA ADR SPONSORED FRN 89151E109 1163 21027 SH SOLE 19480 0 1547 TRANSOCEAN LTD ZUG NAMEN AKT COM H8817H100 3767 79723 SH SOLE 68822 0 10901 TRAPEZA PARTNERS IV LIMITE COM BT3890507 201 201398 SH SOLE 201398 0 0 UNILEVER N V WI FRN 904784709 916 37308 SH SOLE 30708 0 6600 UNION PAC CORP COM 907818108 1896 39659 SH SOLE 34329 0 5330 UNITED FINANCIAL BANCORP INC C COM 91030T109 213 14050 SH SOLE 14050 0 0 UNITED PARCEL SVC INC CL B COM 911312106 494 8962 SH SOLE 5080 0 3882 UNITED TECHNOLOGIES CORP COM 913017109 643 12003 SH SOLE 11483 0 520 UNITEDHEALTH GROUP INC COM 91324P102 1449 54456 SH SOLE 48665 0 5791 UNIVERSAL HEALTH SVCS INC CL B COM 913903100 489 13013 SH SOLE 12315 0 698 URBAN OUTFITTERS INC COM COM 917047102 1208 80631 SH SOLE 65532 0 15099 UST INC COM 902911106 1171 16877 SH SOLE 15841 0 1036 UTILISOURCE CORP COM COM 91800U104 1 50000 SH SOLE 50000 0 0 VALSPAR CORP COM COM 920355104 842 46542 SH SOLE 35667 0 10875 VALUE PARTNERS GROUP LIMITEDSH FRN G93175100 564 1633500 SH SOLE 1452000 0 181500 VECTREN CORP COM COM 92240G101 1774 70926 SH SOLE 63870 0 7056 VERIZON COMMUNICATIONS COM 92343V104 3662 108029 SH SOLE 76872 0 31157 VERTEX PHARMACEUTICALS INC COM COM 92532F100 298 9800 SH SOLE 8826 0 974 VITERRA INC COM FRN 92849T108 4859 628044 SH SOLE 555924 0 72120 VSE CORP COM COM 918284100 479 12222 SH SOLE 12222 0 0 WACHOVIA GROUP COM COM 929903102 109 19685 SH SOLE 9739 0 9946 WADDELL & REED FINL INC CL A COM 930059100 2961 191532 SH SOLE 165292 0 26240 WAL MART STORES INC COM 931142103 5867 104652 SH SOLE 85564 0 19088 WALGREEN COMPANY COM 931422109 455 18426 SH SOLE 14603 0 3823 WALT DISNEY COMPANY COM 254687106 1994 87873 SH SOLE 68454 0 19419 WASTE MANAGEMENT INC COM 94106L109 1759 53074 SH SOLE 50096 0 2978 WEINGARTEN RLTY INVS COM COM 948741103 1105 53394 SH SOLE 49436 0 3958 WELLPOINT INC COM 94973V107 453 10759 SH SOLE 6647 0 4112 WELLS FARGO NEW COM 949746101 475 16115 SH SOLE 9573 0 6542 WESTERN DIGITAL CORPORATION COM 958102105 2137 186605 SH SOLE 9674 0 176931 WESTERN UN CO COM COM 959802109 156 10876 SH SOLE 9724 0 1152 WHITACRE GREER FIREPR PFD 963367206 0 13444 SH SOLE 12944 0 500 WILLIAMS COAL SEAM GAS RTY TR COM 969450105 77 10602 SH SOLE 10602 0 0 WINDSTREAM CORP COM COM 97381W104 556 60384 SH SOLE 57084 0 3300 WIRELESS AGE COMMUNICATIONS CO COM 976527101 1 10000 SH SOLE 0 0 10000 WISCONSIN ENERGY CORP COM 976657106 272 6475 SH SOLE 6475 0 0 WMS INDUSTRIES INC COM 929297109 1295 48131 SH SOLE 37802 0 10329 WOODWARD GOVERNOR CO COM COM 980745103 370 16064 SH SOLE 15835 0 229 WYETH COM 983024100 1546 41220 SH SOLE 30520 0 10700 XCEL ENERGY INC COM 98389B100 231 12448 SH SOLE 12448 0 0 XILINX INC COM 983919101 249 13979 SH SOLE 13762 0 217 XL CAPITAL LTD. FRN G98255105 99 26721 SH SOLE 25672 0 1049 XTO ENERGY INC COM COM 98385X106 690 19568 SH SOLE 17157 0 2411 YOUBET COM INC COM COM 987413101 11 13000 SH SOLE 13000 0 0 YUM BRANDS INC COM COM 988498101 876 27817 SH SOLE 26150 0 1667 ZIMMER HLDGS INC COM COM 98956P102 874 21617 SH SOLE 16712 0 4905