13F-HR/A 1 dreman13f.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2007 Check here if Amendment [x]; Amendment Number: 1 This Amendment (Check only one.): [x] is a restatement [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Dreman Value Management, L.L.C. Address: 520 East Cooper Ave., Suite 230-4 Aspen, CO 81611 Form 13F File Number: 28-6700 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: Michael Appleton Title: Chief Compliance Officer Phone: (201) 793-2005 Signature, Place, and Date of Signing: /s/ Michael Appleton Jersey City, New Jersey November 14, 2007 -------------------- ----------------------- ----------------- [Signature] [City, State] [Date] Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

Dreman Value Mamagement: 3Q2007 13F Filing - Amendment 01 Market CUSIP Issuer Type Value (tot) Shares (tot) Sole(A)(tot) Shared(B)(tot) None(C)(tot) 26817g102 Dynegy Inc. Class A Common 111000 12030 1351 10679 302182100 Express Scripts Inc. Common 202000 3200 3200 189758105 C-Met (144A) Common 216000 18000 18000 742718109 Procter & Gamble Co Common 216000 3100 3100 60467r100 Mirant Corp Common 316000 7469 7469 651639106 Newmont Mining Corp Common 361000 7100 7100 457667103 Insituform Technologies - Clas Common 421000 29975 29975 055622104 BP Amoco Plc - Spons Adr Common 452000 5800 5800 02342j101 AMComp Inc. Common 497000 50000 50000 263534109 Du Pont (E I) De Nemours Common 528000 10660 4160 6500 969450105 Williams Coal Seam Gas Trust Common 615000 57500 57500 G84922106 Stewart W P and Co. LTD Common 617000 95200 95200 78462F103 SPDR Trust Series 1 Common 688381 4460 505 3955 0 628530107 Mylan Inc. Common 987000 65600 7450 58150 963320106 Whirlpool Corp Common 1033000 13040 1290 11750 680223104 Old Republic Intl Corp Common 1055000 68845 170 68675 364730101 Gannett Co Inc DEL Common 1201000 28320 2970 25350 278058102 Eaton Corp. Common 1245000 13450 1700 11750 708160106 Penney (J C) Co Common 1279000 22750 50 22700 92336g106 Verasun Energy Corp. Common 1302000 96000 96000 571837103 Marshall & Ilsley Corp. Common 1339000 31370 3520 27850 172062101 Cincinnati Financial Corp. Common 1368000 34393 3793 30600 91529y106 Unum Group Common 1441000 61730 130 61600 577081102 Mattel Inc Common 1445000 69150 6650 62500 574599106 Masco Common 1448000 60140 140 60000 539320101 Liz Claiborne Inc Common 1509000 52990 90 52900 989701107 Zions Bancorporation Common 1516000 25650 50 25600 055482103 BJ Svcs Co Com Common 1522000 60420 120 60300 693506107 PPG Industries Inc. Common 1532000 20500 2000 18500 896522109 Trinity Industries Common 1543000 42690 90 42600 26874q100 Ensco International, Inc Common 1546000 27860 60 27800 949746101 Wells Fargo & Co (New) Common 1552000 45620 220 45400 44107P104 Host Marriott Corp. Common 1557000 70240 140 70100 868536103 Supervalu Inc. Common 1577000 40700 3900 36800 872540109 TJX Companies Inc Common 1582000 54700 5800 48900 172967101 Citigroup, Inc Common 1583000 37771 316 355 37100 858119100 Steel Dynamics Inc Com Common 1584000 29770 70 29700 165167107 Chesapeake Energy Corp Common 1593000 40340 3890 36450 86764P109 Sunoco Inc. Common 1597000 21700 2100 19600 14040H105 Capital One Finl Corp Common 1608000 24520 120 24400 651290108 Newfield Expl. CO Com. Common 1608000 29870 2920 26950 832248108 Smithfield Foods Inc Com Common 1616000 56350 5500 50850 316773100 Fifth Third Bancorp Common 1630000 52100 52100 635405103 National City Corp Common 1630000 67230 130 67100 42809h107 Hess Corp Common 1634000 22820 2320 20500 449145101 Hyperion Total Return Fund Common 1641000 222600 222600 690368105 Overseas Shipholdng Gp Com Common 1647000 22140 40 22100 117043109 Brunswick Corp Common 1656000 74240 140 74100 m22465104 Check Point Software Common 1661000 65750 7050 58700 91797100 BLACK & DECKER CORP. Common 1685000 18740 40 18700 257867101 Donnelley (R R) & Sons Co Common 1710000 42440 4340 38100 590188108 Merrill Lynch & Co Common 1737000 26310 110 26200 054937107 BB&T Corp. Common 1756000 47490 190 47300 09067J109 Biovail Corp. Common 1757000 87830 9530 78300 540424207 Carolina Gp - Loews Corp Common 1767000 20600 1900 18700 69351t106 PPL Corp. Common 1781000 34450 3200 31250 G24182100 Cooper Industries Ltd Common 1821000 34750 3550 31200 042735100 Arrow Electronics Inc. Common 1831000 45800 10650 35150 023608102 Ameren Corp. Common 1846000 34150 2950 31200 281020107 Edison International Common 1864000 32050 2800 29250 502424104 L-3 Communications Holdings Common 1908000 17400 1750 15650 13321L108 Cameco Corp Common 1915000 39050 4000 35050 552953101 MGM Mirage Common 1915000 20900 20900 857477103 State Street Corp Common 1923000 24110 110 24000 67072c105 Nuveen Quality Preferred II Common 1951000 161200 161200 34415R108 Focus Energy Trust Units (Cana Common 1986000 100000 100000 701094104 Parker Hannifin Corp Common 2049000 25500 2125 23375 370442105 General Motors Common 2108000 53790 90 53700 G7945J104 Seagate Technology Common 2110000 75800 7450 68350 881609101 Tesoro Petroleum Corp Common 2153000 35570 70 35500 67073d102 Nuveen Pfd. & Cvrt Income Fund Common 2255000 190000 190000 15200E204 Centerplate Inc IDS Common 2260000 133800 133800 552078107 Lyondell Chemical PV $1 Common 2289000 48250 6150 42100 743859100 Provident Bankshares Corp Common 2317000 93900 93900 824348106 Sherwin-Williams Common 2352000 36800 2400 34400 781182100 Ruby Tuesday Inc Com Common 2541000 159130 135311 17200 6619 867914103 Suntrust Banks Inc Common 2700000 37184 200 36984 758766109 Regal Entertainment Group Common 2792000 123700 123700 930787106 WAJAX Income Fund (Canadian) Common 2793000 75800 75800 19247x100 Cohen & Steers REIT & PR Common 2964000 116000 116000 200340107 Comerica Inc Common 2969000 63610 2910 60700 073176109 Baytex Energy Trust - Units Common 3213000 150000 150000 58047P107 MCG Capital Corp. Common 3221000 229900 229900 723464103 Pinnacle Gas Resources, Inc. 1 Common 3290000 700000 700000 786514208 Safeway Inc Common 3471519 102110 101550 560 0 125896100 CMS Energy Corp Common 3487000 205500 205500 624758207 Mueller Water Products Inc. Cl Common 3593000 339646 24850 314796 G9144P105 Tyco Electronics Ltd. Common 3680501 103188 30452 5562 67174 798241105 San Juan Basin Royalty Tr Common 3735000 100800 100800 923728109 Vermilion Energy Trust (Canadi Common 3808000 91800 91800 74158d304 Primary Energy Recycling-EIS ( Common 3887000 600300 600300 M87245102 Syneron Medical Ltd. Common 3909000 213750 182800 21000 9950 30247c103 FBR Capital Markets Corp. - 14 Common 4002000 300000 300000 317492106 Financial Fed Corp Com Common 4022000 148850 125950 14900 8000 305560104 Fairpoint Communications Inc. Common 4023000 217600 217600 2535201 Aaron Rents Inc Com Common 4156000 196200 166250 20400 9550 148553100 CastlePoint Holdings Ltd. Common 4537000 389400 389400 78648T100 Safety Insurance Group Inc. Common 4604000 128025 109025 13600 5400 617446448 Morgan Stanley Common 4609000 68520 68520 913456109 Universal Corp/Va Common 4981000 102200 86500 10700 5000 337915102 Firstmerit Corp. Common 4992000 235475 200125 23700 11650 440543106 Hornbeck Offshore Services Common 5004000 127975 108403 12822 6750 361448103 GATX CORPORATION Common 5014000 122375 104775 12000 5600 172595100 Cinram International Income (C Common 5025000 364300 364300 628464109 Myers Industries Inc Common 5089000 240150 201350 25900 12900 303250104 Fair Isaac Corp. Common 5112000 134800 134800 020002101 Allstate Common 5216000 99540 99540 177835105 City Holding Co. Common 5309000 140422 120072 13900 6450 872375100 Teco Energy Inc. Common 5344000 317500 317500 92240g101 Vectren Corp. Common 5354000 190950 162650 19100 9200 42210p102 Headwaters Inc. Common 5381000 375000 375000 981811102 Worthington Industries Inc Common 5515000 220600 220600 095180105 Blount Intl Inc New Common 5524000 451700 385400 45200 21100 800013104 Sanderson Farms Inc. Common 5573000 160150 137450 15700 7000 G2552X108 Covidien Ltd. Common 5912003 142131 36661 6691 98779 63227W203 Natco Group Inc - A Common 6211000 116500 116500 03058P109 Americanwest Bancorporation Common 6253000 323500 323500 72369H106 Pioneer High Income Trust Common 6349000 392400 277100 115300 03232P405 Amsurg Corp. Common 6509000 246100 212900 22400 10800 591097209 Metal Management, Inc. Common 6582000 125200 125200 826428104 Sierra Pacific Resources Common 6763000 400900 400900 451663108 IDEARC Inc. Common 6821000 252800 15400 237400 494580103 Kindred Healthcare Inc. Common 7030000 331000 331000 576853105 Matrix Service Co. Common 7057000 239300 239300 446150104 Huntington Bancshares In Common 7067000 394590 25240 369350 054923107 Axcan Pharma Inc. Common 7096000 347350 297300 33900 16150 440452100 Hormel Foods Corp. Common 7292000 199900 14200 185700 524660107 Leggett & Platt Inc. Common 7375000 379570 23170 356400 44106M102 Hospitality Properties Trust Common 7402000 186930 3680 183250 667746101 Northwest Pipe Company Common 7450000 201800 201800 23281a208 Cypress Shapridge 144A Common 7500000 750000 750000 208242107 Conn's Inc. Common 7699000 301100 301100 110394103 Bristow Group Inc. Common 7798000 156300 156300 67611V101 Odyssey Healthcare Inc Common 7877000 768500 768500 532791100 Lincare Holdings Inc Common 7907000 227400 12950 214450 896818101 Triumph Group Inc New Com Common 7954000 99900 99900 92276F100 Ventas Inc. Common 8008000 186700 3700 183000 884315102 Thomas & Betts Corp Common 8077000 144200 144200 743674103 Protective Life Corp Com Common 8181000 190830 11480 179350 97381W104 Windstream Corp. Common 8481000 630550 40050 590500 404132102 HCC Ins Hldgs Inc Common 8498000 284310 16710 267600 025533407 American Ecology Corp Common 8611000 359700 359700 291641108 Empire District Electric Co. Common 8704000 361900 361900 G9143X208 Tyco International Ltd Common 8767992 212908 46626 9151 157131 431573104 Hillenbrand Industries Common 8827000 159850 8750 151100 978097103 Wolverine World Wide Inc Common 9045000 352750 352750 03071h100 Amerisafe Inc. Common 9089000 562100 200 561900 355904103 Freehold Royalty Trust UTS (Ca Common 9242000 592300 592300 372302109 Genlyte Group Inc Com Common 9322000 143200 143200 391164100 Great Plains Energy Inc. Common 9465000 317200 317200 882491103 Texas Inds. Inc. Common 9527000 130400 130400 052800109 Autoliv Inc. Common 9539000 150989 9089 141900 075811109 Beckman Coulter Inc. Common 9607000 135650 5450 130200 714290103 Perrigo Company Common 9657000 407300 407300 05367p100 Avid Technology Inc. Common 9684000 329500 329500 131193104 Callaway Golf Common 9720000 561200 561200 55264U108 MB Financial Inc. Common 9885000 296505 128205 15200 153100 171798101 Cimarex Energy Co. Common 10042000 247890 11340 236550 22025Y407 Corrections Corp Of America Common 10075000 356142 356142 g3682e127 Frontline Ltd Common 10159000 223770 1070 222700 212337109 Contrans Income Fund (Canadian Common 10179000 1017700 333900 683800 140288101 Capital Lease Funding Common 10350000 1105820 320 1105500 816300107 Selective Ins Group Com Common 10394000 427550 150 427400 g0450a105 Arch Capital Group Ltd Common 10594000 141690 7340 134350 89147L100 Tortoise Energy Infrastructure Common 10850000 307357 307357 031100100 Ametek Inc. Common 10902000 231950 11650 220300 040049108 Arena Resources Inc. Common 11055000 302800 302800 055630107 BP Prudhoe Bay Royalty Trust Common 11066000 142700 43800 98900 70959w103 Penske Auto Group Common 11079000 497250 224350 25500 247400 749660106 RPC Inc. Common 11276000 1008600 1008600 020520102 Alon USA Energy Inc. Common 11678000 317600 121200 13900 182500 15135B101 Centene Corp. Common 11695000 501300 501300 714046109 Perkinelmer Inc. Common 11792000 428500 428500 018804104 Alliant Techsystems Inc Common 11817000 107050 4200 102850 387328107 Granite Constr Inc Com Common 11960000 279300 279300 86815v105 Superior Essex Inc Common 12090000 363600 363600 903236107 URS Corp New Com Common 12201000 197400 197400 02607P305 American Financial Realty Trus Common 12292000 1823675 398475 50900 1374300 101119105 Boston Private Finl Holding Common 12414000 431650 160550 18900 252200 628852105 NCI Building Systems, Inc. Common 12462000 318075 105375 11200 201500 670872100 OM Group Common 12480000 235560 58760 6900 169900 891777104 Tower Group Inc. Common 12547000 415600 415600 792228108 St. Mary Land & Exploration Common 12565000 296615 116365 12900 167350 007094105 Administaff Inc Common 12574000 315300 315300 678026105 Oil States International Inc Common 12813000 296670 70 296600 7591ep100 Regions Financial Corp. New Common 12840000 473460 415260 58200 942749102 Watts Water Technologies A Common 12845000 451800 451800 248019101 Deluxe Corp. Common 12876000 319192 319192 00080S101 ABX Air Inc. Common 13015000 2059410 579460 71500 1408450 365558105 Gardner Denver Inc Com Common 13155000 364100 3900 360200 64438r306 New Flyer Industries Inc.-IDS Common 13194000 1025500 104900 920600 806037107 Scansource Inc Common 13450000 364100 364100 859319105 Sterling Financial Corp./Spoka Common 13597000 604315 142235 16900 445180 30023y105 Evergreen Inc. Advantage Fund Common 14234000 1148868 246200 902668 371559105 Genesee & Wyoming Inc-Cl A Common 14417000 491700 491700 718592108 Phillips-Van Heusen Common 14477000 302864 302864 G0219G203 Allied World Assurance Hold Common 14553000 303760 60 303700 171340102 Church & Dwight Co Inc Common 14732000 311400 3350 308050 174420109 Citizens Republic Bancorp Inc. Common 14840000 975000 186900 23700 764400 410345102 Hanesbrands Inc. Common 14853000 478500 173300 19900 285300 628949109 Nal Oil & Gas Trust-UTS (Canad Common 15091000 1128600 82900 1045700 98462Y100 Yamana Gold Inc. Common 15164000 1009570 20000 989570 95082P105 Wesco Intl Inc Com Common 15194000 325700 600 325100 859241101 Sterling Construction Co Common 15262000 613900 613900 93317Q105 Walter Industries Inc. Common 15466000 504750 124750 13900 366100 110448107 British American Tobacco Common 15633168.43 211873 54800 150197 6876 879131100 Tektronix Inc. Common 15723000 415400 68450 6800 340150 415864107 Harsco Corp Com Common 15749000 259800 259800 489170100 Kennametal Inc. Common 15969000 175075 72275 7700 95100 124765108 CAE Inc. Common 16447000 1219200 1219200 743263105 Progress Energy Common 16589000 345600 345600 55306N104 MKS Instrument Inc Com Common 17063000 849739 204139 24100 621500 127190304 Caci Intl Inc Cl A Common 17184000 319100 319100 231561101 Curtiss-Wright Corp. Common 17367000 308525 105875 12200 190450 044103109 Ashford Hospitality Trust Common 17437000 1772070 331270 42200 1398600 29274D604 Enerplus Resources Fund Common 17475000 361200 361200 624758108 Mueller Water Products Inc. Common 17653000 1502350 325050 37300 1140000 Y21110104 Double Hull Tankers Inc Common 17689000 1139000 100000 1039000 293389102 Ennis Inc. Common 17900000 875750 184000 21100 670650 037933108 Apria Healthcare Group Common 17923000 741550 170800 20200 550550 00206R102 AT&T Inc Common 17956000 429680 429680 592688105 Mettler-Toledo International Common 18005000 169300 169300 197236102 Columbia Bkg Sys Inc Common 18601000 598675 134725 16500 447450 864482104 Suburban Propane Partners Common 18629000 386900 386900 125269100 CF Industries Holdings Inc. Common 18644000 212100 212100 159864107 Charles River Laboratories Common 18696650 322365 65 322300 67612w108 Odyssey Re Holdings Corp Common 18762670 504635 135 504500 G4388N106 Helen of Troy Ltd Common 19231000 1068395 377945 22000 668450 067806109 Barnes Group Inc. Common 19876000 541125 181925 19500 339700 247907207 Delta Petroleum Corp Common 20002000 1069600 198121 23267 848212 492914106 Key Energy Services Inc. Common 20038000 1459440 272140 31100 1156200 910331107 United Fire and Casualty Co. Common 20282000 633030 132330 16100 484600 873168108 TXU CORPORATION Common 20352963.22 296803 82468 210775 3560 488152208 Kelly Svcs Inc Cl A Common 20660000 982385 159885 17300 805200 156431108 Century Aluminum Company Common 20739000 356410 95210 11000 250200 852891100 Stancorp Financial Group Common 20867000 378510 95160 11200 272150 091826107 Black Box Corp. DEL COM Common 20890000 522500 522500 700416209 Park Electrochemical Corp. Common 21037000 671680 131897 14266 525517 631158102 Nash Finch Co Com Common 21724000 580075 230225 13500 336350 60505104 BANK OF AMERICA CORP Common 22432162.1 436764 130123 300683 5958 526107107 Lennox International Inc. Common 22455000 629000 151000 16400 461600 462594201 Iowa Telecommunications Common 22456000 1138750 228750 28000 882000 871130100 Sybase Inc. Common 22830000 798250 197700 24000 576550 784774101 Stec Inc Common 23172000 3598150 704050 89900 2804200 721467108 Pilgrims Pride Corp Common 23320000 785197 145147 15500 624550 04269Q100 Arris Group Inc. Common 23329000 2028610 300010 32000 1696600 844030106 Southern Union Co Common 23622000 749901 1 749900 303628101 Fairborne Energy Trust (Canadi Common 23761000 3224000 1210100 2013900 90262t308 UCBH Holdings Inc Common 24067000 1409875 278325 29600 1101950 42330p107 Helix Energy Group, Inc. Common 24143000 522000 522000 427056106 HERCULES INC Common 24220000 1287600 224600 26300 1036700 216648402 Cooper Cos. Inc Com Common 24388000 580675 192875 11600 376200 758932107 REGIS CORP MINN Common 24397000 726100 127350 13600 585150 167250109 Chicago Bridge & Iron Common 24740000 494800 494800 046220109 Asta Funding Common 25143000 707455 135920 15530 556005 31162100 AMGEN INC Common 25328685.2 452991 121499 325602 5890 49460W208 Kinetic Concepts Inc. Common 25476000 423900 3050 420850 948849104 WEIS MARKETS INC Common 25745000 586580 122180 13700 450700 930059100 Waddell & Reed Financial - A Common 26746000 805125 202725 25600 576800 53219l109 Lifepoint Hospitals Common 26843000 879513 123117 14944 741452 716748108 Petroquest Energy Inc. Common 26975000 2091100 679150 47000 1364950 713839108 Perini Corp. Common 27046000 471600 52500 6200 412900 24522P103 Del Monte Foods Co Common 27220000 2632500 456550 49100 2126850 404251100 HNI Corp Common 27645000 637575 104475 11500 521600 018522300 Allete, Inc. Common 27646000 632775 105125 11200 516450 427093109 Hercules Offshore Inc. Common 27705000 1024584 177250 18900 828434 451107106 IDACORP INC COM Common 27972000 801725 150125 16400 635200 89417e109 Travelers Cos Inc/THE Common 27980000 535910 30550 10700 494660 443510201 HUBBELL INC CL B PAR .01 Common 28036000 509750 9900 499850 023436108 Amedisys Inc. Common 28190000 664075 154325 16600 493150 G4933P101 IPC Holdings LTD Common 28654000 958010 166960 17600 773450 410867105 Hanover Insurance Group, Inc. Common 29062000 630820 110020 11600 509200 G0464B107 Argo Group International Holdi Common 29296000 687534 198565 10423 478546 281347104 EDO Corp Common 29389000 506700 506700 01167P101 Alaska Comm Systems Group Common 29551000 1816300 698600 36300 1081400 697900108 Pan American Silver Corp. Common 30841000 930900 189550 21900 719450 369300108 General Cable Corp/De Common 31002000 430650 143100 7400 280150 758750103 Regal Beloit Common 31587000 644100 113950 12100 518050 938862208 Washington Group Intl Inc Common 31643830 325055 55 325000 706902509 Pengrowth Energy Trust Common 32208000 1701500 368000 1333500 y2187a101 Eagle Bulk Shipping Inc. Common 32481000 952800 61100 891700 868157108 Superior Energy Services Inc. Common 32852000 885965 132065 13800 740100 751028101 Ralcorp Holdings Inc Common 33117000 588225 84575 9500 494150 G7127P100 Platinum Underwriters Holdings Common 33486000 930165 282165 17000 631000 29084Q100 Emcor Group Inc Com Common 34022000 988150 120850 14000 853300 46625H100 J.P. Morgan Chase & Co. Common 34203000 727719 103409 14215 610095 450913108 IAMgold Corporation Common 34535000 3937900 1221150 71400 2645350 203372107 Commscope Inc. Common 35142000 745000 137000 14900 593100 781258108 Ruddick Corp. Common 35482000 1043575 159275 18600 865700 587118100 The Men's Wearhouse Inc. Common 35627000 843050 200900 11500 630650 001986108 Arc Energy Trust (Canadian) Common 35738000 1588400 821500 766900 32511107 ANADARKO PETRO Common 35867933.26 666234 183518 474440 8276 716495106 Petrohawk Energy Corp Common 35915000 1941325 663575 44400 1233350 37411105 APACHE CORP Common 36979168.74 412369 113535 293669 5165 74834L100 Quest Diagnostics Inc. Common 37604691.73 700367 130289 88364 481714 426281101 Henry (Jack) & Associates Common 37719000 1290850 167150 18500 1105200 42224n101 Healthspring Inc Common 38468000 1831800 457500 25700 1348600 G30397106 Endurance Specialty Holdings Common 39937000 1018530 263030 16000 739500 03761u106 Apollo Investment Corp. Common 40946000 1968550 231350 1737200 31428X106 Federal Express Common 40982116 396570 38470 9900 348200 23330x100 DRS Technologies Inc Common 41327000 719475 171475 10300 537700 699157103 Parallel Petroleum Corp. Common 42545000 2078400 567550 39200 1471650 707885109 Penn West Energy Trust Common 42854000 1343400 813100 530300 832696405 JM Smucker Co. Common 43225000 809000 174050 10300 624650 916901507 Uranium Resources Inc Common 44212000 3551140 481615 65238 3004287 050095108 Atwood Oceanics Inc. Common 45603000 541350 66800 7600 466950 41752x101 Harvest Energy Trust Common 47082000 1663028 546828 1116200 45822P105 Integrys Energy Group, Inc. Common 49908000 927477 450777 10300 466400 74973W107 RTI International Metals, Inc. Common 49941000 638799 57349 6600 574850 098536105 Bonavista Energy Trust (Canadi Common 50173000 1496200 889700 606500 035290105 Anixter International Inc. Common 50397000 701425 143825 9000 548600 92240M108 Vector Group Ltd Common 50525000 2309171 859967 33705 1415499 225908102 Crescent Point Energy Trust (C Common 53066000 2172500 1200900 971600 464287598 Russell 1000 Value Index Fund Common 61738548.25 716838 272210 421290 23338 594918104 Microsoft Common 70091343 1904382 262212 87330 1554840 99709107 BORDERS GROUP INC Common 74905000 4857625 844935 47005 3965685 453142101 Imperial Tobacco Group PLC Common 98658020.48 977381 126877 115202 735302 845905108 Sovereign Bancorp. Inc. Common 101526958.9 6903876 1243556 893837 4766483 31162100 AMGEN INC Common 107620000 1852007 299641 229323 1323043 55616P104 Macy's Inc. Common 111145153.5 3453588 674716 469377 2309495 493267108 Keycorp Common 129056484.6 4481451 1455724 441307 2584420 125581108 CIT Group Common 134391654 3812916 574066 284155 2954695 292505104 Encana Corp Common 140050959.8 2022910 276804 197876 1548230 532457108 Lilly (Eli) & Co Common 163051303.7 2996304 899763 280563 1815978 666807102 Northrop Grumman Corp Common 176927052 2138674 362497 447997 1328180 416515104 Hartford Finl Svcs Grp Inc Common 203549920.9 2103494 437922 300400 1365172 902973304 U S Bancorp Common 217822189.7 6569392 1537471 498157 4533764 171232101 Chubb Corp Common 229533078.1 4296059 744103 572512 2979444 60505104 BANK OF AMERICA CORP Common 235353000 4874750 1255831 295290 3323629 913017109 United Technologies Corp Common 244011283.2 3175110 554639 343343 2277128 548661107 Lowes Cos. Common 298421867.3 11056055 1847742 1187294 8021019 929903102 Wachovia Corp Common 305189683.7 6622113 1396976 641698 4583439 674599105 Occidental Petroleum Common 315467469.9 4595073 771428 500698 3322947 855030102 Staples Inc Common 323203993.8 13895206 2234272 1352710 10308224 92343V104 Verizon Communications Common 335125986.6 7288703 1128105 785416 5375182 369604103 General Electric Co Common 338781742.8 8223647 1534848 1179023 5509776 00817Y108 Aetna Inc Common 339475034.1 6067812 1032470 776109 4259983 693475105 PNC Financial Services Group Common 364232415.1 5059166 1076841 425727 3556598 32511107 ANADARKO PETRO Common 440661000 7466294 1318638 434401 5713255 88579Y101 3M Company Common 457590060.8 5260405 945439 603183 3712343 37411105 APACHE CORP Common 497498000 4792391 818929 257422 3716040 983024100 Wyeth Common 526771143.2 10898368 1903540 1410897 7583931 717081103 Pfizer Common 530108856.6 21525140 5303139 2308404 13913597 902911106 UST Inc. Common 552885527 10393431 3622332 630674 6140425 166764100 Chevron Corporation Common 571424347.7 6240631 1331955 632579 4276097 91324P102 UnitedHealth Group Inc. Common 573865948.7 11703592 2212828 1194760 8296004 313586109 Fannie Mae Common 579718185.3 10093966 3341796 900726 5851444 25179M103 Devon Energy Common 618083571.4 6677092 1525539 776709 4374844 313400301 Freddie Mac Common 632370579 11949205 1809984 1239169 8900052 939322103 Washington Mutual Inc. Common 646229612 22902907 5963682 1885819 15053406 02209S103 Altria Group Inc Common 1164075797 16014980 4505689 1635813 9875133 20825C104 ConocoPhillips Common 1194780346 14057396 3075622 1344517 9637257 464287598 Ishares Russell1000Val 9357720 107560 0 8850 0 404280604 HSBC HLDGS PLC ADR A 1/40PF A 2252000 100000 100000 453142101 Imperial Tobacco Group PLC Sponsored ADR 1184927 12926 6130 6796 0 292505104 Encana Corp Common 2114362 34350 22361 11989 0 110448107 British American Tobacco PLC Sponsored ADR 2369405 33868 10172 23696 0 Totals 18396180967 435587681 103889386 32261743 307053572

Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None Form 13F Information Table Entry Total: 357 Form 13F Information Table Value Total: 18,396,180,967 (thousands) List of Other Included Managers: N/A Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. Not Applicable