UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2006
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Value Line Inc
Address: 220 East 42nd Street
New York, NY 10017
13F File Number: 28-00401
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: David Henigson
Title: Vice President
Phone: 212-907-1600
Signature, Place, and Date of Signing:
/s/ David Henigson New York, NY April 10, 2006
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form13F Information Table Entry Total: 1403
Form13F Information Table Value Total: $3,248,284 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.
NONE
FORM 13F INFORMATION TABLE
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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
21ST CENTY INS GROUP COM 90130N103 395 25000 SH DEFINED 0 25000 0
3COM CORP COM 885535104 154 30000 SH DEFINED 0 30000 0
A S V INC COM 001963107 293 9100 SH DEFINED 0 9100 0
AAR CORP COM 000361105 2945 103400 SH DEFINED 0 103400 0
AARON RENTS INC COM 002535201 3025 111350 SH DEFINED 0 111350 0
ABB LTD SPONSORED ADR 000375204 1067 85000 SH DEFINED 0 85000 0
ABN AMRO HLDG NV SPONSORED ADR 000937102 1122 37550 SH DEFINED 0 35000 2550
ACCENTURE LTD BERMUDA CL A G1150G111 9743 324000 SH DEFINED 0 324000 0
ACCO BRANDS CORP COM 00081T108 0 0 SH DEFINED 0 0 0
ACE LTD ORD G0070K103 57 1100 SH DEFINED 0 0 1100
ACTIVISION INC NEW COM NEW 004930202 37 2666 SH DEFINED 0 2666 0
ACTUANT CORP SDCV 2.000%11/1 00508XAB0 320 200000 PRN DEFINED 0 200000 0
ACTUANT CORP CL A NEW 00508X203 7144 116700 SH DEFINED 0 116700 0
ACUITY BRANDS INC COM 00508Y102 4480 112000 SH DEFINED 0 112000 0
ADAPTEC INC COM 00651F108 166 30000 SH DEFINED 0 30000 0
ADAPTEC INC NOTE 0.750%12/2 00651FAG3 874 1000000 PRN DEFINED 0 1000000 0
ADELPHIA COMMUNICATIONS C 006848303 3 10000 SH DEFINED 0 10000 0
ADMINISTAFF INC COM 007094105 4642 85400 SH DEFINED 0 85400 0
ADOBE SYS INC COM 00724F101 2377 68000 SH DEFINED 0 68000 0
ADVANCED MEDICAL OPTICS INC COM 00763M108 3736 80100 SH DEFINED 0 80100 0
ADVANCED MEDICAL OPTICS INC NOTE 2.500% 7/1 00763MAG3 217 200000 PRN DEFINED 0 200000 0
ADVANCED MICRO DEVICES INC COM 007903107 6698 202000 SH DEFINED 0 202000 0
AES TR III PFD CV 6.75% 00808N202 327 7000 SH DEFINED 0 7000 0
AETNA INC NEW COM 00817Y108 5307 108000 SH DEFINED 0 106200 1800
AFFILIATED MANAGERS GROUP COM 008252108 5480 51400 SH DEFINED 0 51400 0
AFLAC INC COM 001055102 2857 63300 SH DEFINED 0 63300 0
AGCO CORP COM 001084102 622 30000 SH DEFINED 0 30000 0
AGERE SYS INC NOTE 6.500%12/1 00845VAA8 1970 2000000 PRN DEFINED 0 2000000 0
AGILENT TECHNOLOGIES INC COM 00846U101 7270 193600 SH DEFINED 0 193600 0
AGL RES INC COM 001204106 2769 76800 SH DEFINED 0 76800 0
AGNICO EAGLE MINES LTD COM 008474108 457 15000 SH DEFINED 0 15000 0
AGRIUM INC COM 008916108 505 20000 SH DEFINED 0 20000 0
AIR METHODS CORP COM PAR $.06 009128307 458 15500 SH DEFINED 0 15500 0
AIR PRODS & CHEMS INC COM 009158106 403 6000 SH DEFINED 0 6000 0
AIRGAS INC COM 009363102 5942 152000 SH DEFINED 0 152000 0
AKAMAI TECHNOLOGIES INC COM 00971T101 1546 47000 SH DEFINED 0 47000 0
ALABAMA NATL BANCORP DELA COM 010317105 705 10300 SH DEFINED 0 10300 0
ALAMOSA DEL INC 011588AG5 505 500000 PRN DEFINED 0 500000 0
ALAMOSA HLDGS INC 011589108 1291 69000 SH DEFINED 0 69000 0
ALASKA COMMUNICATIONS SYS GR COM 01167P101 63 5200 SH DEFINED 0 5200 0
ALBEMARLE CORP COM 012653101 567 12500 SH DEFINED 0 12500 0
albertson 7 25% cvt pfd 243 11100 SH DEFINED 0 11100 0
ALBERTSONS INC COM 013104104 100 3900 SH DEFINED 0 3900 0
ALDILA INC COM NEW 014384200 342 10300 SH DEFINED 0 10300 0
ALERIS INTL INC COM 014477103 6610 137500 SH DEFINED 0 137500 0
ALFA CORP COM 015385107 82 4800 SH DEFINED 0 4800 0
ALKERMES INC COM 01642T108 2115 95900 SH DEFINED 0 95900 0
ALLEGHANY CORP DEL COM 017175100 118 408 SH DEFINED 0 408 0
ALLEGHENY TECHNOLOGIES I 01741RAB8 864 800000 PRN DEFINED 0 800000 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 5592 91400 SH DEFINED 0 91400 0
ALLERGAN INC COM 018490102 2680 24700 SH DEFINED 0 24700 0
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 722 20000 SH DEFINED 0 20000 0
ALLIANT TECHSYSTEMS INC COM 018804104 791 10250 SH DEFINED 0 10000 250
ALLIANT TECHSYSTEMS INC NOTE 2.750% 2/1 018804AH7 160 150000 PRN DEFINED 0 150000 0
ALLIED WASTE INDS INC PFD SR C CONV 019589605 181 3000 SH DEFINED 0 3000 0
ALLIED WASTE INDS INC SDCV 4.250% 4/1 019589AD2 325 350000 PRN DEFINED 0 350000 0
ALLSCRIPTS HEALTHCARE SOLUTI COM 01988P108 4834 264000 SH DEFINED 0 264000 0
Alltel Corporation 885571AD1 241 228000 PRN DEFINED 0 228000 0
ALTRIA GROUP INC COM 02209S103 197 2775 SH DEFINED 0 2100 675
ALVARION LTD SHS M0861T100 270 30000 SH DEFINED 0 30000 0
ALZA CORP SDCV 7/2 02261WAB5 244 300000 PRN DEFINED 0 300000 0
AMBASSADORS GROUP INC COM 023177108 439 17300 SH DEFINED 0 17300 0
AMDOCS LTD ORD G02602103 5229 145000 SH DEFINED 0 145000 0
AMDOCS LTD NOTE 0.500% 3/1 02342TAD1 297 300000 PRN DEFINED 0 300000 0
AMEDISYS INC COM 023436108 2681 77150 SH DEFINED 0 76500 650
AMERADA HESS CORP COM 023551104 1595 11200 SH DEFINED 0 11200 0
AMERADA HESS CORP PFD CV ACES 7% 023551401 189 3000 SH DEFINED 0 3000 0
AMERCO COM 023586100 3533 35700 SH DEFINED 0 35700 0
AMERICA MOVIL S A DE C V SPON ADR L SHS 02364W105 1165 34000 SH DEFINED 0 34000 0
AMERICAN CAPITAL STRATEGIES COM 024937104 46 1300 SH DEFINED 0 1000 300
AMERICAN CASINO & ENTMT P 02504RAA5 638 600000 PRN DEFINED 0 600000 0
AMERICAN COMMERCIAL LINES COM NEW 025195207 1020 21600 SH DEFINED 0 21600 0
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 27 900 SH DEFINED 0 0 900
AMERICAN ECOLOGY CORP COM NEW 025533407 510 25000 SH DEFINED 0 25000 0
AMERICAN ELEC PWR INC COM 025537101 1021 30000 SH DEFINED 0 30000 0
AMERICAN FINL GROUP INC OHIO COM 025932104 1373 33000 SH DEFINED 0 33000 0
AMERICAN FINL GROUP INC OHIO NOTE 1.486% 6/0 025932AD6 127 300000 PRN DEFINED 0 300000 0
AMERICAN GREETINGS CORP CL A 026375105 216 10000 SH DEFINED 0 10000 0
AMERICAN INTL GROUP INC COM 026874107 707 10700 SH DEFINED 0 10700 0
AMERICAN MED SYS HLDGS INC COM 02744M108 2583 114800 SH DEFINED 0 114800 0
AMERICAN PHARMACEUTICALS PTN COM 02886P109 946 33200 SH DEFINED 0 32650 550
AMERICAN PHYSICIANS CAPITAL COM 028884104 120 2500 SH DEFINED 0 2500 0
AMERICAN REPROGRAPHICS CO COM 029263100 496 14300 SH DEFINED 0 14300 0
AMERICAN RETIREMENT CORP COM 028913101 758 29600 SH DEFINED 0 29600 0
AMERICAN SCIENCE & ENGR INC COM 029429107 1046 11200 SH DEFINED 0 11200 0
AMERICAN STD COS INC DEL 029712AA4 534 500000 PRN DEFINED 0 500000 0
AMERICAN STS WTR CO COM 029899101 934 25000 SH DEFINED 0 25000 0
AMERICAN TOWER CORP NOTE 3.000% 8/1 029912AR3 315 200000 PRN DEFINED 0 200000 0
AMERICAN TOWER CORP CL A 029912201 5281 174167 SH DEFINED 0 174167 0
AMERICAN VANGUARD CORP COM 030371108 24 800 SH DEFINED 0 800 0
AMERICANWEST BANCORPORATION COM 03058P109 156 5900 SH DEFINED 0 5900 0
AMERISOURCEBERGEN CORP COM 03073E105 2911 60300 SH DEFINED 0 60300 0
AMERISTAR CASINOS INC COM 03070Q101 1754 68000 SH DEFINED 0 68000 0
AMERITRADE HLDG CORP NEW 03074K100 966 37000 SH DEFINED 0 37000 0
AMERUS GROUP CO COM 03072M108 482 8000 SH DEFINED 0 8000 0
AMETEK INC NEW COM 031100100 6438 143200 SH DEFINED 0 143200 0
AMGEN INC COM 031162100 304 4180 SH DEFINED 0 2840 1340
AMKOR TECHNOLOGY INC COM 031652100 7020 812500 SH DEFINED 0 812500 0
AMPHENOL CORP NEW CL A 032095101 5082 97400 SH DEFINED 0 97400 0
AMSOUTH BANCORPORATION COM 032165102 3 100 SH DEFINED 0 0 100
AMYLIN PHARMACEUTICALS INC COM 032346108 2790 57000 SH DEFINED 0 57000 0
ANADARKO PETE CORP COM 032511107 3848 38100 SH DEFINED 0 37900 200
ANCHOR BANCORP WIS INC COM 032839102 724 23900 SH DEFINED 0 23900 0
ANDERSONS INC COM 034164103 117 1500 SH DEFINED 0 1500 0
ANDREW CORP NOTE 3.250% 8/1 034425AB4 161 150000 PRN DEFINED 0 150000 0
ANGLO AMERN PLC ADR 03485P102 1149 58700 SH DEFINED 0 54800 3900
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 1353 25000 SH DEFINED 0 25000 0
ANHEUSER BUSCH COS INC COM 035229103 1512 35350 SH DEFINED 0 35000 350
ANIXTER INTL INC COM 035290105 6436 134700 SH DEFINED 0 134700 0
ANIXTER INTL INC NOTE 7/0 035290AG0 216 300000 PRN DEFINED 0 300000 0
ANNTAYLOR STORES CORP COM 036115103 110 3000 SH DEFINED 0 3000 0
ANSOFT CORP COM 036384105 634 15200 SH DEFINED 0 15200 0
ANSYS INC COM 03662Q105 6000 110800 SH DEFINED 0 110800 0
ANTEON INTL CORP COM 03674E108 1397 25600 SH DEFINED 0 25600 0
AON CORP COM 037389103 166 4000 SH DEFINED 0 4000 0
AON CORP DBCV 3.500%11/1 037389AT0 194 100000 PRN DEFINED 0 100000 0
APACHE CORP COM 037411105 4314 65850 SH DEFINED 0 64380 1470
APEX SILVER MINES LTD ORD G04074103 594 25000 SH DEFINED 0 25000 0
APPLE COMPUTER INC COM 037833100 8091 129000 SH DEFINED 0 129000 0
APPLEBEES INTL INC COM 037899101 1243 50650 SH DEFINED 0 47750 2900
APPLERA CORP COM AP BIO GRP 038020103 679 25000 SH DEFINED 0 25000 0
APPLIED INDL TECHNOLOGIES IN COM 03820C105 4589 102900 SH DEFINED 0 102900 0
APPLIED MATLS INC COM 038222105 14 800 SH DEFINED 0 0 800
APTARGROUP INC COM 038336103 1204 21800 SH DEFINED 0 21800 0
AQUA AMERICA INC COM 03836W103 5291 190198 SH DEFINED 0 190198 0
AQUANTIVE INC COM 03839G105 3992 169600 SH DEFINED 0 169600 0
AQUILA INC PIES 6.75% 03840P409 140 4000 SH DEFINED 0 4000 0
ARCH CAP GROUP LTD ORD G0450A105 2021 35000 SH DEFINED 0 35000 0
ARCH COAL INC COM 039380100 76 1000 SH DEFINED 0 1000 0
ARCHER DANIELS MIDLAND CO COM 039483102 983 29200 SH DEFINED 0 26500 2700
ARCO CHEM CO 001920AB3 654 600000 PRN DEFINED 0 600000 0
ARENA PHARMACEUTICALS INC COM 040047102 1023 56500 SH DEFINED 0 56500 0
ARGONAUT GROUP INC COM 040157109 1795 50500 SH DEFINED 0 50500 0
ARKANSAS BEST CORP DEL COM 040790107 657 16800 SH DEFINED 0 16800 0
ARMOR HOLDINGS INC COM 042260109 6464 110900 SH DEFINED 0 110600 300
ARMOR HOLDINGS INC NOTE 2.000%11/0 042260AC3 243 200000 PRN DEFINED 0 200000 0
ARRIS GROUP INC COM 04269Q100 506 36800 SH DEFINED 0 36800 0
ARTHROCARE CORP COM 043136100 6154 128700 SH DEFINED 0 128700 0
ASPECT MED SYS INC COM 045235108 66 2400 SH DEFINED 0 2400 0
ASSOCIATED BANC CORP COM 045487105 1101 32400 SH DEFINED 0 32400 0
ASSURANT INC COM 04621X108 1231 25000 SH DEFINED 0 25000 0
ASTA FDG INC COM 046220109 688 20700 SH DEFINED 0 20700 0
ASTEC INDS INC COM 046224101 495 13800 SH DEFINED 0 13800 0
AT&T INC COM 00206R102 3110 115000 SH DEFINED 0 115000 0
ATI TECHNOLOGIES INC COM 001941103 275 16000 SH DEFINED 0 16000 0
ATLAS AMER INC COM 049167109 411 8600 SH DEFINED 0 8600 0
ATP OIL & GAS CORP COM 00208J108 571 13000 SH DEFINED 0 13000 0
AUDIOCODES LTD ORD M15342104 346 25000 SH DEFINED 0 25000 0
AUTODESK INC COM 052769106 2542 66000 SH DEFINED 0 66000 0
AUTOLIV INC COM 052800109 2009 35500 SH DEFINED 0 35500 0
AVALONBAY CMNTYS INC COM 053484101 1004 9200 SH DEFINED 0 9200 0
AVI BIOPHARMA INC COM 002346104 228 30000 SH DEFINED 0 30000 0
AVIALL INC NEW COM 05366B102 5434 142700 SH DEFINED 0 142700 0
AVNET INC 053807AK9 535 500000 PRN DEFINED 0 500000 0
AVNET INC COM 053807103 749 29500 SH DEFINED 0 29500 0
AVON PRODS INC COM 054303102 120 3850 SH DEFINED 0 3850 0
AVX CORP NEW COM 002444107 7700 435000 SH DEFINED 0 435000 0
BAKER HUGHES INC COM 057224107 10 150 SH DEFINED 0 0 150
BALL CORP COM 058498106 1946 44400 SH DEFINED 0 44400 0
BANCO ITAU HLDG FINANCIERA S SP ADR 500 PFD 059602201 1950 65500 SH DEFINED 0 65500 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 872 20000 SH DEFINED 0 20000 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 1222 35000 SH DEFINED 0 35000 0
BANCORPSOUTH INC COM 059692103 202 8400 SH DEFINED 0 8400 0
BANK HAWAII CORP COM 062540109 7330 137500 SH DEFINED 0 137500 0
BANK MONTREAL QUE COM 063671101 756 13300 SH DEFINED 0 13300 0
BANK OF AMERICA CORPORATION COM 060505104 18 400 SH DEFINED 0 300 100
BANK OF THE OZARKS INC COM 063904106 759 20800 SH DEFINED 0 20800 0
BANKRATE INC COM 06646V108 449 10300 SH DEFINED 0 10300 0
BANTA CORP COM 066821109 4226 81300 SH DEFINED 0 81300 0
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BARNES & NOBLE INC COM 067774109 1573 34000 SH DEFINED 0 34000 0
BARNES GROUP INC COM 067806109 77 1900 SH DEFINED 0 1900 0
BARNWELL INDS INC COM 068221100 292 12600 SH DEFINED 0 12600 0
BARR PHARMACEUTICALS INC COM 068306109 2614 41500 SH DEFINED 0 41500 0
BARRETT BUSINESS SERVICES IN COM 068463108 464 17200 SH DEFINED 0 17200 0
BAXTER INTL INC COM 071813109 707 18215 SH DEFINED 0 18215 0
BB&T CORP COM 054937107 118 3000 SH DEFINED 0 3000 0
BCE INC COM 05534B109 1607 66800 SH DEFINED 0 65100 1700
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BEAR STEARNS COS INC 07387EEW3 1883 2000000 PRN DEFINED 0 2000000 0
BEAR STEARNS COS INC COM 073902108 5187 37400 SH DEFINED 0 37400 0
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BG PLC ADR FIN INST N 055434203 251 4000 SH DEFINED 0 4000 0
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BIO RAD LABS INC CL A 090572207 3055 49000 SH DEFINED 0 49000 0
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BIOMET INC COM 090613100 21 600 SH DEFINED 0 0 600
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BOEING CO COM 097023105 125 1600 SH DEFINED 0 1600 0
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CHATTEM INC COM 162456107 968 25700 SH DEFINED 0 25700 0
CHECKFREE CORP NEW COM 162813109 9848 195000 SH DEFINED 0 195000 0
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CHESAPEAKE ENERGY CORP 165167883 2251 1150 SH DEFINED 0 1150 0
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