13F-HR 1 t302044.txt FOR THE PERIOD ENDED 6/30/05 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, 2005 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: NWQ INVESTMENT MANAGEMENT CO, LLC Address: 2049 Century Park East 16th Floor Los Angeles, CA 90067 13F File Number: 028-01474 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: Kathleen Hendriks Title: Compliance Director Phone: 310-712-4049 Signature, Place, and Date of Signing: Kathleen Hendriks, Los Angeles, CA 08/12/2005 Report Type (Check only one.): [X ] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: Nuveen Investments, Inc. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 299 Form 13F Information Table Value Total: $33,134,582 List of Other Included Managers: No. 13F File Number Name 1 - Unknown -- Nuveen Investments, Inc.
FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTORITY NAME OF ISSUER TITLE OF CLASS CUSIP NO (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ----------- -------- -------- -------- AGCO CORP COM 001084102 57889 3027689 SH DEFINED 1 2730933 0 296756 ABBOTT LABORATORIES COM 002824100 314 6400 SH DEFINED 1 6400 0 0 ADAPTEC INC (CLBLE 12/22/08) 0.750% 12-22-200651FAG3 74711 92094000 SH DEFINED 1 83654000 0 8440000 AEGON NV COM 0076039BT 10521 811808 SH DEFINED 1 802322 0 9486 AEGON N.V. - AMERICAN REG SHR COM 007924103 110540 8588931 SH DEFINED 1 7810404 0 778527 AETNA INC COM 00817Y108 725373 8758426 SH DEFINED 1 7504525 0 1253901 AGILENT TECHNOLOGIES INC COM 00846U101 865085 37579724 SH DEFINED 1 31933697 0 5646027 AGILENT TECH INC CV BOND 3.000% 12-01-200846UAB7 5556 5633000 SH DEFINED 1 5512000 0 121000 AGRIUM INC COM 008916108 10225 521418 SH DEFINED 1 387456 0 133962 ALBANY INTL CORP CL A COM 012348108 372 11600 SH DEFINED 1 11600 0 0 ALBERTSONS INC COM 013104104 409643 19808646 SH DEFINED 1 17128179 0 2680467 ALERIS INTL INC COM COM 014477103 15297 678360 SH DEFINED 1 560091 0 118269 ALLEGHENY CORP COM 017175100 371 1248 SH DEFINED 1 1248 0 0 ALLIANT ENERGY CORP COM 018802108 16101 571964 SH DEFINED 1 503827 0 68137 ALLIED WASTE INDUSTRIES INC COM 019589308 64591 8145122 SH DEFINED 1 7376411 0 768711 ALLIED WASTE 4.25 SERIES CALL/PUT 04/18/09019589AD2 26065 30485000 SH DEFINED 1 27302000 0 3183000 ALTRIA GROUP INC COM 02209S103 929894 14381281 SH DEFINED 1 12586581 0 1794700 ALUMINA LTD-SPONSORED ADR COM 022205108 115033 6762698 SH DEFINED 1 6156973 0 605725 ALUMINA LTD (ORDS) COM 022205RRT 9907 2336470 SH DEFINED 1 2036960 0 299510 AMEREN CORP COM 023608102 546 9870 SH DEFINED 1 9870 0 0 AMERICAN HOME MORTGAGE COM 02660R107 31192 892232 SH DEFINED 1 892232 0 0 AMERICREDIT CORP COM 03060R101 117081 4591424 SH DEFINED 1 4440295 0 151129 ANAREN INC COM 032744104 208 15800 SH DEFINED 1 15800 0 0 ANGLO AMERICAN PLC-UNSP ADR COM 03485P102 3713 158000 SH DEFINED 1 158000 0 0 ANGLOGOLD LIMITED-SPONS ADR COM 035128206 211207 5911197 SH DEFINED 1 5328527 0 582670 ANTHRACITE CAPITAL INC. COM 037023108 9352 789210 SH DEFINED 1 659693 0 129517 AON CORP COM 037389103 749861 29946543 SH DEFINED 1 25888281 0 4058262 APEX SILVER 2.875% 03-15-203760XAB7 10170 14713000 SH DEFINED 1 14228000 0 485000 ARCH COAL INC COM 039380100 588 10800 SH DEFINED 1 10800 0 0 ARCHER-DANIELS MIDLAND CO COM 039483102 16853 788252 SH DEFINED 1 752270 0 35982 AREVA - CI COM 040102RRT 18426 43130 SH DEFINED 1 38200 0 4930 ASSOC BRITISH FOOD-UNSP ADR COM 045519402 74587 5040681 SH DEFINED 1 4543990 0 496691 ASSOCIATED BRITISH FOODS PLC COM 045520GGT 1289 87817 SH DEFINED 1 32600 0 55217 AUTHENTIDATE HOLDING CORP COM 052666104 5528 2078362 SH DEFINED 1 1953207 0 125155 AXCELIS TECH CONV 4.250% 01-15-2054540AB5 31224 31861000 SH DEFINED 1 28825000 0 3036000 BP PLC - SPONS ADR COM 055622104 2333 37404 SH DEFINED 1 37404 0 0 BANCORP INC/THE COM 05969A105 9019 517157 SH DEFINED 1 412449 0 104708 BANK OF AMERICA CORP COM 060505104 348690 7645043 SH DEFINED 1 6716464 0 928579 BARRICK GOLD CORP COM 067901108 1115248 44556435 SH DEFINED 1 39705105 0 4851330 BELLSOUTH CORP COM 079860102 958 36050 SH DEFINED 1 36050 0 0 BEMA GOLD CORP COM 08135F107 49158 20568055 SH DEFINED 1 18519593 0 2048462 BENIHANA INC COM 082047101 642 44600 SH DEFINED 1 44600 0 0 BEVERLY ENTERPRISES COM 087851309 5608 440168 SH DEFINED 1 440168 0 0 BOWATER INC COM 102183100 99215 3065020 SH DEFINED 1 2886690 0 178330 BROCADE COM SYS CONVERTIBLE 2.000% 01-01-2111621AB4 334 348000 SH DEFINED 1 348000 0 0 BROOKS AUTOMAT CONV BOND 4.750% 06-01-211434AAB6 1883 1982230 SH DEFINED 1 942000 0 1040230 BUCKEYE TECHNOLOGIES INC COM 118255108 8749 1097684 SH DEFINED 1 892704 0 204980 BURLINGTON NORTHERN SANTA FE COM 12189T104 240 5095 SH DEFINED 1 5095 0 0 BURLINGTON RESOURCES INC COM 122014103 220209 3986406 SH DEFINED 1 3306146 0 680260 CDW CORP COM 12512N105 14787 259654 SH DEFINED 1 230533 0 29121 CNA FINANCIAL CORP COM 126117100 21721 764280 SH DEFINED 1 696397 0 67883 CAMECO CORP COM 13321L108 7742 173009 SH DEFINED 1 173009 0 0 CASEY'S GENERAL STORES INC COM 147528103 21327 1076017 SH DEFINED 1 835744 0 240273 CATHAY PACIFIC AIRWAYS LTD SPONSORED ADR148906308 146 16000 SH DEFINED 1 16000 0 0 CATERPILLAR INC COM 149123101 6990 73335 SH DEFINED 1 700 0 72635 CENTRAL FREIGHT LINES INC COM 153491105 7549 2870508 SH DEFINED 1 2654537 0 215971 CENTURY ALUMINUM COMPANY COM 156431108 10371 508386 SH DEFINED 1 396892 0 111494 CHEVRON CORP NEW COM 166764100 166132 2970895 SH DEFINED 1 2541453 0 429442 CHICAGO BRIDGE & IRON CO NV COM 167250109 6416 280671 SH DEFINED 1 219843 0 60828 CHUNGHWA TELECOM CO LTD-ADR COM 17133Q205 189769 8855284 SH DEFINED 1 7972435 0 882849 CITIGROUP INC COM 172967101 536870 11613024 SH DEFINED 1 9615057 0 1997967 CLP HOLDINGS LTD - SPONS ADR COM 18946Q101 167273 29151751 SH DEFINED 1 26209311 0 2942440 CLP HOLDINGS LTD (ORDS) COM 18948651T 13964 2432700 SH DEFINED 1 2105100 0 327600 COMMERCIAL VEHICLE GROUP INC COM 202608105 11882 669407 SH DEFINED 1 545447 0 123960 CIA VALE DO RIO DOCE-ADR COM 204412209 609 20800 SH DEFINED 1 20800 0 0 COMPUTER ASSOCIATES INTL INC COM 204912109 1142316 41569004 SH DEFINED 1 35424913 0 6144091 COMVERSE TECHNOLOGY INC COM 205862402 40585 1717513 SH DEFINED 1 1693313 0 24200 CONOCOPHILLIPS COM 20825C104 386498 6722871 SH DEFINED 1 5710224 0 1012647 COUNTRYWIDE FINANCIAL CORP. COM 222372104 1107876 28694008 SH DEFINED 1 24557299 0 4136708 CP SHIPS LTD COM 22409V102 20213 1291544 SH DEFINED 1 1193455 0 98089 CP SHIPS LTD 4.000% 06-30-222409VAE2 424 447000 SH DEFINED 1 447000 0 0 DSM NV - SPONS ADR COM 23332H202 73469 4288651 SH DEFINED 1 3967766 0 320885 DTE ENERGY COMPANY COM 233331107 19303 412713 SH DEFINED 1 376765 0 35948 DAI NIPPON PRINTING JPY50 (ORD COM 23380610T 17163 1065369 SH DEFINED 1 947369 0 118000 DAI NIPPON PRINT-UNSPON ADR COM 233806207 169224 5246773 SH DEFINED 1 4722526 0 524247 DEL MONTE FOODS CO COM 24522P103 40193 3731968 SH DEFINED 1 3116142 0 615826 DENBURY RESOURCES COM 247916208 20648 519191 SH DEFINED 1 402388 0 116803 DEVON ENERGY COM 25179M103 3811 75200 SH DEFINED 1 0 0 75200 DOMINION RESOURCES INC COM 25746U109 319750 4356862 SH DEFINED 1 3552411 0 804451 DOMTAR LTD COM 257561100 19974 2702810 SH DEFINED 1 2317580 0 385230 DONNELLEY RR & SONS CO COM 257867101 394 11416 SH DEFINED 1 11416 0 0 DOW JONES & COMPANY, INC. COM 260561105 9217 260000 SH DEFINED 1 260000 0 0 EDP ENERGIAS DE PORTUGAL S A SPONSORED ADR 268353109 194028 7736368 SH DEFINED 1 6979370 0 756998 ENI SPA-SPONSORED ADR COM 26874R108 178513 1392457 SH DEFINED 1 1261268 0 131189 ENI SPA (ORDS) COM 268754ACT 12326 478122 SH DEFINED 1 427328 0 50794 ELDORADO GOLD CORP COM 284902103 14500 5430612 SH DEFINED 1 4923460 0 507152 ENERGIAS DE PORTUGAL SA COM 286001AET 14018 5562694 SH DEFINED 1 4916052 0 646642 EXCEL TECHNOLOGIES INC COM 30067T103 12422 511205 SH DEFINED 1 428538 0 82667 EXXON MOBIL CORP COM 30231G102 1715 29848 SH DEFINED 1 29848 0 0 FEI COMPANY CV CALL 08/15/08 5.500% 08-15-230241LAB5 23066 23328000 SH DEFINED 1 22553000 0 775000 FREDDIE MAC COM 313400301 1169 17924 SH DEFINED 1 17509 0 415 FANNIE MAE COM 313586109 918677 15730771 SH DEFINED 1 13251751 0 2479020 FELCOR LODGING TRUST INC COM 31430F101 203 14000 SH DEFINED 1 14000 0 0 FELCOR LODGING PFD SER 1.95 A CALLABLE 12/31/2031430F200 4401 180162 SH DEFINED 1 180162 0 0 FOSSIL INC COM 349882100 13414 590912 SH DEFINED 1 461619 0 129293 FRANKLIN BANK CORP/HOUSTON COM 352451108 9291 495242 SH DEFINED 1 412045 0 83197 FREEPORT-MCMORAN (SILVER) PFD CV PRF STK 35671D865 197 26980 SH DEFINED 1 26980 0 0 FREEPORT MCMORAN SER II 0.00% 35671D881 24119 553318 SH DEFINED 1 509673 0 43645 FREESCALE SEMICONDUCTOR INC COM 35687M107 116236 5532404 SH DEFINED 1 5243904 0 288500 FRIEDMAN BILLINGS RAMSEY GRP COM 358434108 101928 7127853 SH DEFINED 1 6982888 0 144965 FUJI PHOTO FILM CO LTD (ORDS) COM 35958622T 16703 518897 SH DEFINED 1 467397 0 51500 FUJI PHOTO FILM - UNSPONS ADR COM 359586302 162392 4982891 SH DEFINED 1 4475728 0 507163 GAMMON LAKE RESOURCES INC COM 364915108 14070 2090666 SH DEFINED 1 1826693 0 263973 GENERAL CABLE CORP COM 369300108 19704 1328651 SH DEFINED 1 1034575 0 294076 GENERAL ELECTRIC COMPANY COM 369604103 589 17005 SH DEFINED 1 17005 0 0 GENWORTH FINANCIAL INC-CL A COM 37247D106 497319 16451180 SH DEFINED 1 13834952 0 2616228 GEORGIA GULF CORP COM 373200203 3889 125244 SH DEFINED 1 98049 0 27195 GIBRALTAR INDUSTRIES INC COM 374689107 18995 1028965 SH DEFINED 1 840242 0 188723 GLATFELTER COM 377316104 6600 532253 SH DEFINED 1 408675 0 123578 GOLD RESERVE INC COM 38068N108 689 212000 SH DEFINED 1 212000 0 0 GRAFTECH INTERNATIONAL LTD COM 384313102 151 35050 SH DEFINED 1 35050 0 0 GRAFTECH INTL (CLBLE 1/15/11) 1.625% 01-15-2384313AB8 28095 42407000 SH DEFINED 1 35766000 0 6641000 GRIFFON CORP COM 398433102 27947 1258862 SH DEFINED 1 984126 0 274736 GYMBOREE CORP COM 403777105 11906 871619 SH DEFINED 1 823019 0 48600 HALLIBURTON CO COM 406216101 607 12700 SH DEFINED 1 12700 0 0 HANCOCK FABRICS INC COM 409900107 100 15000 SH DEFINED 1 15000 0 0 HARLEYSVILLE GROUP INC COM 412824104 332 15900 SH DEFINED 1 15900 0 0 HARTFORD FINL SERVICES GRP INC COM 416515104 670891 8971536 SH DEFINED 1 7662541 0 1308995 HOMEBANC CORP/GA COM 43738R109 35995 3959796 SH DEFINED 1 3555476 0 404320 HK ELEC HOLDINGS ADR COM 438580300 389 85191 SH DEFINED 1 85191 0 0 IDACORP INC COM 451107106 11562 377471 SH DEFINED 1 338175 0 39296 IMPALA PLATINUM SPON ADR COM 452553308 83173 3719064 SH DEFINED 1 3346887 0 372177 INCO LTD COM 453258402 23764 629506 SH DEFINED 1 580653 0 48853 INDYMAC BANCORP INC COM 456607100 219881 5398512 SH DEFINED 1 5220841 0 177671 INSITUFORM TECHNOLOGIES-CL A COM 457667103 178 11200 SH DEFINED 1 11200 0 0 INTERMUNE INC COM 45884X103 211 16200 SH DEFINED 1 16200 0 0 INTERNATIONAL PAPER COM 460146103 296950 9829514 SH DEFINED 1 8108238 0 1721276 INTL RECTIFIER CONV 4.250% 07-15-2460254AE5 58832 59728000 SH DEFINED 1 51753000 0 7975000 ISHARES RUSSELL 1000 VALUE COM 464287598 9980 149756 SH DEFINED 1 0 0 149756 SAINSBURY J. PLC SPONS-ADR COM 466249208 164415 8039046 SH DEFINED 1 7256772 0 782274 JPMORGAN CHASE & COMPANY COM 46625H100 505552 14313481 SH DEFINED 1 12118353 0 2195128 JORGENSEN (EARLE M.) CO COM 480829100 7278 904078 SH DEFINED 1 850878 0 53200 JOURNAL REGISTER CO COM 481138105 268 15300 SH DEFINED 1 15300 0 0 KT CORP-SP ADR COM 48268K101 296997 13813807 SH DEFINED 1 12498947 0 1314860 KANSAS CITY SOUTHERN COM 485170302 1295 64152 SH DEFINED 1 64152 0 0 KAO CORP ADR COM 485537302 1625 6887 SH DEFINED 1 6887 0 0 KENNAMETAL INC COM 489170100 17610 384073 SH DEFINED 1 302310 0 81763 KERR MC GEE CORP COM 492386107 1171886 15356914 SH DEFINED 1 13132323 0 2224591 KIMBERLY CLARK COM 494368103 615557 9834752 SH DEFINED 1 8264955 0 1569797 KIRIN BREWERY LTD ADR COM 497350306 159840 16461410 SH DEFINED 1 14777833 0 1683577 KIRIN BREWERY CO LTD JPY50 (OR COM 497350BBT 16167 1670120 SH DEFINED 1 1485120 0 185000 KOMATSU LTD-SPONS ADR COM 500458401 5338 171738 SH DEFINED 1 163338 0 8400 KOREA ELEC POWER CORP SP-ADR COM 500631106 189432 12088818 SH DEFINED 1 11014254 0 1074564 KROGER COMPANY COM 501044101 30301 1592285 SH DEFINED 1 1442675 0 149610 KYOCERA CORP-SPONS ADR COM 501556203 20511 267417 SH DEFINED 1 229113 0 38304 LTX CORP CONV (CLBLE 12/14/04) 4.250% 08-15-2502392AE3 5468 5580000 SH DEFINED 1 5456000 0 124000 LANCASTER COLONY CORP COM 513847103 383 8909 SH DEFINED 1 8909 0 0 LEAR CORP (CALLABLE 02/20/07) 0.000% 02-20-2521865AG0 896 2290000 SH DEFINED 1 1850000 0 440000 LIBERTY MEDIA CORP SER A COM 530718105 415912 40815695 SH DEFINED 1 34738037 0 6077658 LIHIR GOLD LTD-SPONSORED ADR COM 532349107 127667 6878621 SH DEFINED 1 6218830 0 659791 LIHIR GOLD LIMITED (ORD) COM 532349RRT 5176 5565804 SH DEFINED 1 4487200 0 1078604 LIN TV CORP-CL A COM 532774106 172 12400 SH DEFINED 1 12400 0 0 LINCOLN ELECTRONIC HOLDINGS COM 533900106 10695 322628 SH DEFINED 1 223125 0 99503 LINDSAY MANUFACTURING CO COM 535555106 24256 1028665 SH DEFINED 1 884437 0 144228 LOCKHEED MARTIN CORP. COM 539830109 733781 11311568 SH DEFINED 1 9620849 0 1690719 LOEWS CORP DEL COM 540424108 219848 2836745 SH DEFINED 1 2257785 0 578960 CAROLINA GROUP COM 540424207 14761 443000 SH DEFINED 1 443000 0 0 LONMIN PLC-SPON ADR COM 54336Q203 101373 5350635 SH DEFINED 1 4801721 0 548914 LONMIN PLC COM 54336QAAT 9764 515792 SH DEFINED 1 450910 0 64882 MFA MORTGAGE INVESTMENTS COM 55272X102 66064 8867624 SH DEFINED 1 8426720 0 440904 MGIC INVESTMENT CORP COM 552848103 336589 5160822 SH DEFINED 1 4130879 0 1029943 MAGNA INTERNATIONAL CL A COM 559222401 401 5699 SH DEFINED 1 5699 0 0 MAKITA CORP-SPONS ADR COM 560877300 115919 5935408 SH DEFINED 1 5334150 0 601258 MAKITA CORP JPY50 (ORDS) COM 5608773AT 11632 591642 SH DEFINED 1 530042 0 61600 MANOR CARE INC COM 564055101 695 17500 SH DEFINED 1 17500 0 0 MARTEN TRANSPORTATION COM 573075108 12681 604139 SH DEFINED 1 477291 0 126848 MATSUSHITA ELEC INDL SPONSORED ADR 576879209 180305 11877818 SH DEFINED 1 10756312 0 1121506 MATTSON TECHNOLOGY COM 577223100 55316 7725667 SH DEFINED 1 7127179 0 598488 MAXTOR CORP COM 577729205 29031 5582954 SH DEFINED 1 4933398 0 649556 MAY DEPT STORES CO COM 577778103 4016 100000 SH DEFINED 1 0 0 100000 MERCK & COMPANY INCORPORATED COM 589331107 9702 315000 SH DEFINED 1 315000 0 0 METSO CORP - SPON ADR COM 592671101 112672 5192279 SH DEFINED 1 4731674 0 460605 METSO OYJ (ORDS) COM 592671RMT 9963 457040 SH DEFINED 1 397990 0 59050 MICROSOFT CORP COM 594918104 510053 20533523 SH DEFINED 1 17004768 0 3528755 MISYS PLC COM 606458RRT 11981 2805877 SH DEFINED 1 2502000 0 303877 MITTAL STEEL CO-CL A NV REG COM 60684P101 1809 76191 SH DEFINED 1 72066 0 4125 MOSAIC CO COM 61945A107 58536 3761965 SH DEFINED 1 3423317 0 338648 MOTOROLA INC COM 620076109 545726 29886394 SH DEFINED 1 24471099 0 5415295 NATIONAL CITY CORP CLEVELAND COM 635405103 665 19492 SH DEFINED 1 18987 0 505 NEW YORK MORTGAGE TRUST INC COM 649604105 9697 1069153 SH DEFINED 1 913090 0 156063 NEWELL RUBBERMAID INC COM 651229106 6808 285584 SH DEFINED 1 285584 0 0 NEWMONT MINING CORP COM 651639106 4687 120086 SH DEFINED 1 98486 0 21600 NEWPARK RESOURCES INC COM 651718504 283 37700 SH DEFINED 1 37700 0 0 NEXEN INC COM 65334H102 119515 3936583 SH DEFINED 1 3784678 0 151905 NINTENDO CO LTD-ADR COM 654445303 160884 12295263 SH DEFINED 1 11098571 0 1196692 NIPPON TELEGRAPH & TELE-ADR COM 654624105 177656 8274623 SH DEFINED 1 7501827 0 772796 NOBLE ENERGY INC COM 655044105 893333 11808758 SH DEFINED 1 10108448 0 1700310 NORANDA INC COM 655422103 144265 8339024 SH DEFINED 1 7514791 0 824233 NORFOLK SOUTHERN CORP COM 655844108 4163 134469 SH DEFINED 1 134469 0 0 MATSUSHITA ELECTRIC IND (ORDS) COM 65727077T 11324 746000 SH DEFINED 1 625000 0 121000 NINTENDO CO LTD (ORDS) COM 66395503T 15202 145335 SH DEFINED 1 128635 0 16700 NORTHERN TRUST CORP COM 665859104 547 12000 SH DEFINED 1 12000 0 0 NORTHROP GRUMMAN CORP COM 666807102 737476 13347974 SH DEFINED 1 11434053 0 1913921 OSI SYSTEMS INC COM 671044105 15529 983490 SH DEFINED 1 869880 0 113610 OPTI CANADA INC COM 68383K109 564 25900 SH DEFINED 1 25900 0 0 OPTI CANADA INC COM 68383K11T 3704 168120 SH DEFINED 1 164520 0 3600 ORBITAL SCIENCES CORP COM 685564106 2597 262314 SH DEFINED 1 237511 0 24803 OREZONE RESOURCES INC COM 685921108 10714 8178654 SH DEFINED 1 7399508 0 779146 PMA CAPITAL CORPORATION COM 693419202 26393 2989021 SH DEFINED 1 2732814 0 256207 POSCO ADR COM 693483109 338855 7706515 SH DEFINED 1 6714717 0 991798 PNM RESOURCES COM 69349H107 6302 218745 SH DEFINED 1 218745 0 0 PACKAGING CORP OF AMERICA COM 695156109 67347 3199370 SH DEFINED 1 3092074 0 107296 PACTIV CORP COM 695257105 799 37013 SH DEFINED 1 37013 0 0 PFIZER INC COM 717081103 568 20600 SH DEFINED 1 20600 0 0 PITNEY-BOWES INC COM 724479100 492004 11297455 SH DEFINED 1 9367903 0 1929552 PLACER DOME INC. COM 725906101 114676 7456175 SH DEFINED 1 6724791 0 731384 PREMIUM STANDARD FARMS INC COM 74060C105 20255 1511553 SH DEFINED 1 1322803 0 188750 PROGRESS ENERGY INC COM 743263105 10573 233701 SH DEFINED 1 193210 0 40491 CONTINGENT VALUE OBLIGATION FLORIDA PROGRES743263AA3 8 70800 SH DEFINED 1 47400 0 23400 PUGET ENERGY INC COM 745310102 7836 335172 SH DEFINED 1 250673 0 84499 QUAKER FABRIC CORP COM 747399103 9486 2319255 SH DEFINED 1 1960192 0 359063 QUANTUM CORP DLT & STORAGE S747906204 91163 30694459 SH DEFINED 1 28749694 0 1944765 QUANTUM CORP SUB NT CV 4.375% 08-01-2747906AE5 9005 9467000 SH DEFINED 1 9467000 0 0 RAIT INVESTMENT TRUST COM 749227104 8168 272709 SH DEFINED 1 203538 0 69171 RADIAN GROUP COM 750236101 632976 13404830 SH DEFINED 1 11542680 0 1862150 RANGE RESOURCES CORP COM 75281A109 21418 796218 SH DEFINED 1 626066 0 170152 RAYTHEON CO COM 755111507 568357 14528541 SH DEFINED 1 12645931 0 1882610 RIO NARCEA GOLD MINES LTD COM 766909105 400 250000 SH DEFINED 1 250000 0 0 RIO TINTO PLC-SPON ADR COM 767204100 474852 3894782 SH DEFINED 1 3356162 0 538620 RITCHIE BROS. AUCTIONEERS COM 767744105 6883 178554 SH DEFINED 1 133493 0 45061 ROYAL DUTCH PETRO-NY SHARES COM 780257804 3848 59291 SH DEFINED 1 59291 0 0 ROYAL DUTCH SHELL PLC-ADR B COM 780259107 0 2630754 SH DEFINED 1 2341855 0 288899 SBC COMMUNICATIONS INC COM 78387G103 14453 608550 SH DEFINED 1 510950 0 97600 SMFG FINANCE - REG S 2.250% 07-11-2784529RRT 0 24000000 SH DEFINED 1 24000000 0 0 S & P 500 DEPOSITARY RECEIPT COM 78462F103 8092 67900 SH DEFINED 1 67900 0 0 SAFEWAY INC COM 786514208 5815 257406 SH DEFINED 1 230408 0 26998 SANKYO CO LTD. (ORDS) COM 80104000T 15966 831125 SH DEFINED 1 746835 0 84290 SAPPI LTD SPONSORED ADR COM 803069202 96023 8874576 SH DEFINED 1 8114880 0 759696 SAUER-DANFOSS INC COM 804137107 19431 1093462 SH DEFINED 1 863477 0 229985 SAXON CAPITAL, INC. COM 80556T106 9866 578000 SH DEFINED 1 491058 0 86942 SCHOOL SPECIALTY INC COM 807863105 11650 250529 SH DEFINED 1 227477 0 23052 SEKISUI HOUSE-SPONS ADR COM 816078307 157766 15595717 SH DEFINED 1 13993696 0 1602021 SEKISUI HOUSE LTD (ORDS) COM 816078AAT 17087 1690136 SH DEFINED 1 1528136 0 162000 SHAW GROUP INC COM 820280105 6366 295936 SH DEFINED 1 295936 0 0 SHELL TRANSPORT-SPONS ADR COM 822703609 38850 669130 SH DEFINED 1 612709 0 56421 SHISEIDO COMPANY LIMITED COM 82484122T 15698 1215000 SH DEFINED 1 1080000 0 135000 SHISEIDO LTD ADR COM 824841407 174403 13804282 SH DEFINED 1 12408590 0 1395692 SMITHFIELD FOODS INC COM 832248108 2163 79315 SH DEFINED 1 906 0 78409 SMURFIT-STONE CONTAINER CORP COM 832727101 5593 549999 SH DEFINED 1 333184 0 216815 SONICWALL INC COM 835470105 38232 7093204 SH DEFINED 1 6945504 0 147700 SOUTHWESTERN ENERGY COMPANY COM 845467109 16538 352012 SH DEFINED 1 272838 0 79174 SPRINT CORP FON COMMON STOCK COM 852061100 538783 21473996 SH DEFINED 1 18643086 0 2830910 STOLT-NIELSEN SA ADR SPONSORED ADR REP861565109 720 21500 SH DEFINED 1 21500 0 0 STOLT OFFSHORE SA SP ADR REG COM 861567105 20876 2301678 SH DEFINED 1 1777586 0 524092 STORA ENSO OYJ-SPONS ADR COM 86210M106 12718 1000641 SH DEFINED 1 902407 0 98234 SUNCOR ENERGY INC COM 867229106 114801 2426051 SH DEFINED 1 2144530 0 281521 SUNSET FINANCIAL RESOURCES COM 867708109 9117 962692 SH DEFINED 1 807387 0 155305 SWISSCOM AG-SPONS ADR COM 871013108 165063 5060182 SH DEFINED 1 4553752 0 506430 SWISSCOM AG-REG (ORDS) COM 871014RRT 9703 29763 SH DEFINED 1 24982 0 4781 SYNGENTA AG-ADR COM 87160A100 5359 262819 SH DEFINED 1 262819 0 0 TAKEFUJI CORP COM 87406E10T 19964 295200 SH DEFINED 1 274750 0 20450 TECHNIP S.A. (ORDS) COM 878352ABT 4431 95480 SH DEFINED 1 94140 0 1340 TECHNIP-COFLEXIP-ADR COM 878546209 100222 2150687 SH DEFINED 1 1954222 0 196465 TELECOM ITALIA-RNC COM 87927S2DT 10768 4141570 SH DEFINED 1 3742044 0 399526 TELECOM ITALIA S P A SPON ADR ORD 87927Y102 1644 52500 SH DEFINED 1 52500 0 0 TELECOM ITALIA SPA SPON ADR SVGS 87927Y201 163502 6347109 SH DEFINED 1 5728665 0 618444 TENNANT CO COM 880345103 18002 508377 SH DEFINED 1 461623 0 46754 TEXAS INSTRUMENTS INCORPORATED COM 882508104 639 22758 SH DEFINED 1 14100 0 8658 THALES SA COM 8832181AT 9210 226619 SH DEFINED 1 223689 0 2930 TOMKINS PLC COM 890025JJT 644 137600 SH DEFINED 1 137600 0 0 TOMKINS PLC -ADR COM 890030208 114160 6002119 SH DEFINED 1 5327223 0 674896 TOTAL SA-SPON ADR COM 89151E109 9932 85000 SH DEFINED 1 85000 0 0 TOYS R US COM 892335100 118278 4466696 SH DEFINED 1 4235596 0 231100 TOYS R US INC CONV PFD 0%, 8-16-2007 892335308 3465 57000 SH DEFINED 1 57000 0 0 TRINITY INDS INC COM 896522109 24953 779037 SH DEFINED 1 707775 0 71262 TRIQUINT SEMICON 4.000% 03-01-289674KAB9 58116 59836000 SH DEFINED 1 52565000 0 7271000 TRIZEC HAHN 3.000% 01-29-2896938AB3 3894 5000000 SH DEFINED 1 5000000 0 0 TYSON FOODS INC CL A COM 902494103 43488 2443139 SH DEFINED 1 2223263 0 219876 UNION PACIFIC CORP COM 907818108 499981 7715753 SH DEFINED 1 6374141 0 1341612 UNITED STATES STEEL CORP NEW COM 912909108 48218 1402896 SH DEFINED 1 1378796 0 24100 UNITED UTILITIES PLC-SP ADR COM 91311Q105 171047 7147796 SH DEFINED 1 6466594 0 681202 UNOCAL CORP COM 915289102 10307 158449 SH DEFINED 1 156247 0 2202 VALMONT INDUSTRIES COM 920253101 1894 73404 SH DEFINED 1 69204 0 4200 VERIZON COMMUNICATIONS COM 92343V104 361067 10450573 SH DEFINED 1 8704189 0 1746384 VIACOM INC CL B COM 925524308 806798 25196681 SH DEFINED 1 21610787 0 3585894 WMC RESOURCES LTD-SPONS ADR COM 92928R106 29386 1221105 SH DEFINED 1 1161872 0 59233 WACOAL CORP (ORD) COM 929760JKT 11571 913996 SH DEFINED 1 808996 0 105000 WACHOVIA CORP COM 929903102 173906 3506166 SH DEFINED 1 2559628 0 946538 WACOAL CORP-SPONSORED ADR COM 930004205 157906 2493388 SH DEFINED 1 2238550 0 254838 WARREN RESOURCES INC COM 93564A100 2337 222800 SH DEFINED 1 204600 0 18200 WAUSAU PAPER CORP COM 943315101 16162 1349064 SH DEFINED 1 1117114 0 231950 WELLS FARGO & CO COM 949746101 591732 9609156 SH DEFINED 1 7961727 0 1647429 WMC RESOURCES LTD COM 977691AAT 295 52532 SH DEFINED 1 52532 0 0 XSTRATA PLC COM 983857VJT 9271 481370 SH DEFINED 1 428370 0 53000 YORK INTL CORP NEW COM 986670107 71593 1884039 SH DEFINED 1 1788139 0 95900 BELGACOM SA COM B1041411T 11011 322162 SH DEFINED 1 291320 0 30842 DEUTSCHE BANK AG - REG COM D18190898 164192 2107734 SH DEFINED 1 1928571 0 179163 APEX SILVER MINES LTD COM G04074103 34749 2529029 SH DEFINED 1 2274282 0 254747 UNITED UTILITIES PLC COM G06462336 15288 1296694 SH DEFINED 1 1139895 0 156799 INGERSOLL RAND COMPANY LTD NEW COM G4776G101 446856 6262871 SH DEFINED 1 5569061 0 693810 NOBLE CORP COM G65422100 326 5300 SH DEFINED 1 5300 0 0 NORTHERN FOODS PLC (ORDS) COM G66304109 9057 3200365 SH DEFINED 1 3159915 0 40450 PLATINUM UNDERWRITERS HLDGS COM G7127P100 267 8400 SH DEFINED 1 8400 0 0 SAINSBURY J ORD GBP COM G7773210T 16120 3154518 SH DEFINED 1 2804807 0 349711 SAINSBURY (J)PLC-B SHARES COM G7773212T 139 223967 SH DEFINED 1 223967 0 0 TRANSOCEAN INC COM G90078109 2228 41282 SH DEFINED 1 41282 0 0 CNH GLOBAL N.V. COM N20935206 19573 1036164 SH DEFINED 1 976033 0 60131 IMPALA PLATINUM HOLDINGS LTD COM S37840105 6912 77050 SH DEFINED 1 68600 0 8450 TEEKAY SHIPPING CORP COM Y8564W103 527 12000 SH DEFINED 1 12000 0 0