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, 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 October 31, 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: 1044
Form13F Information Table Value Total: $2,806,337 (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 374 25000 SH DEFINED 0 25000 0
3M CO NOTE 11/2 88579YAB7 221 250000 PRN DEFINED 0 250000 0
3M CO COM 88579Y101 1116 15000 SH DEFINED 0 15000 0
AAR CORP COM 000361105 1082 45400 SH DEFINED 0 45400 0
AARON RENTS INC COM 002535201 3108 135250 SH DEFINED 0 135250 0
ABB LTD SPONSORED ADR 000375204 1120 85000 SH DEFINED 0 85000 0
ABBOTT LABS COM 002824100 2865 59000 SH DEFINED 0 59000 0
ACACIA RESH CORP ACACIA TCH COM 003881307 388 34200 SH DEFINED 0 34200 0
ACCENTURE LTD BERMUDA CL A G1150G111 4154 131000 SH DEFINED 0 131000 0
ACTUANT CORP CL A NEW 00508X203 2625 52400 SH DEFINED 0 52400 0
ACUITY BRANDS INC COM 00508Y102 10787 237600 SH DEFINED 0 237600 0
ADAPTEC INC NOTE 0.750%12/2 00651FAG3 708 800000 PRN DEFINED 0 800000 0
ADMINISTAFF INC COM 007094105 3761 111600 SH DEFINED 0 111600 0
ADVANCED MEDICAL OPTICS INC COM 00763M108 2140 54100 SH DEFINED 0 54100 0
ADVANCED MEDICAL OPTICS INC NOTE 2.500% 7/1 00763MAG3 362 350000 PRN DEFINED 0 350000 0
AES CORP COM 00130H105 2508 123000 SH DEFINED 0 123000 0
AES TR III PFD CV 6.75% 00808N202 489 10000 SH DEFINED 0 10000 0
AFFILIATED MANAGERS GROUP COM 008252108 5346 53400 SH DEFINED 0 53400 0
AFLAC INC COM 001055102 2924 63900 SH DEFINED 0 63900 0
AGCO CORP COM 001084102 507 20000 SH DEFINED 0 20000 0
AGCO CORP NOTE 1.750%12/3 001084AL6 324 250000 PRN DEFINED 0 250000 0
AGERE SYS INC NOTE 6.500%12/1 00845VAA8 1905 1900000 PRN DEFINED 0 1900000 0
AGL RES INC COM 001204106 2256 61800 SH DEFINED 0 61800 0
AGNICO EAGLE MINES LTD COM 008474108 4420 142000 SH DEFINED 0 142000 0
AGRIUM INC COM 008916108 540 20000 SH DEFINED 0 20000 0
AIR METHODS CORP COM PAR $.06 009128307 323 13700 SH DEFINED 0 13700 0
AIR PRODS & CHEMS INC COM 009158106 2721 41000 SH DEFINED 0 41000 0
AIRGAS INC COM 009363102 5498 152000 SH DEFINED 0 152000 0
AKAMAI TECHNOLOGIES INC COM 00971T101 13947 279000 SH DEFINED 0 279000 0
ALABAMA NATL BANCORP DELA COM 010317105 703 10300 SH DEFINED 0 10300 0
ALASKA COMMUNICATIONS SYS GR COM 01167P101 533 40200 SH DEFINED 0 40200 0
ALBEMARLE CORP COM 012653101 5792 106600 SH DEFINED 0 106600 0
ALCAN INC COM 013716105 6379 160000 SH DEFINED 0 160000 0
ALCOA INC COM 013817101 2580 92000 SH DEFINED 0 92000 0
ALERIS INTL INC COM 014477103 6949 137500 SH DEFINED 0 137500 0
ALEXANDER & BALDWIN INC COM 014482103 1331 30000 SH DEFINED 0 30000 0
ALLEGHENY ENERGY INC COM 017361106 3133 78000 SH DEFINED 0 78000 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 8980 144400 SH DEFINED 0 144400 0
ALLERGAN INC COM 018490102 2781 24700 SH DEFINED 0 24700 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 4879 88400 SH DEFINED 0 88400 0
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 696 20000 SH DEFINED 0 20000 0
ALLIANT TECHSYSTEMS INC NOTE 2.750% 2/1 018804AH7 169 150000 PRN DEFINED 0 150000 0
ALLIANT TECHSYSTEMS INC COM 018804104 657 8100 SH DEFINED 0 8000 100
ALLIED WASTE INDS INC SDCV 4.250% 4/1 019589AD2 322 350000 PRN DEFINED 0 350000 0
ALLSCRIPTS HEALTHCARE SOLUTI COM 01988P108 4937 219600 SH DEFINED 0 219600 0
ALLSTATE CORP COM 020002101 4203 67000 SH DEFINED 0 67000 0
ALVARION LTD SHS M0861T100 192 30000 SH DEFINED 0 30000 0
ALZA CORP SDCV 7/2 02261WAB5 267 300000 PRN DEFINED 0 300000 0
AMBASSADORS GROUP INC COM 023177108 489 17300 SH DEFINED 0 17300 0
AMDOCS LTD NOTE 0.500% 3/1 02342TAD1 372 350000 PRN DEFINED 0 350000 0
AMDOCS LTD ORD G02602103 7801 197000 SH DEFINED 0 197000 0
AMEDISYS INC COM 023436108 1196 30150 SH DEFINED 0 29500 650
AMERCO COM 023586100 2647 35700 SH DEFINED 0 35700 0
AMERICA MOVIL S A DE C V SPON ADR L SHS 02364W105 1339 34000 SH DEFINED 0 34000 0
AMERICAN COMMERCIAL LINES COM NEW 025195207 3781 63600 SH DEFINED 0 63600 0
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 5303 121000 SH DEFINED 0 121000 0
AMERICAN ECOLOGY CORP COM NEW 025533407 430 21800 SH DEFINED 0 21800 0
AMERICAN ELEC PWR INC COM 025537101 1273 35000 SH DEFINED 0 35000 0
AMERICAN FINL GROUP INC OHIO COM 025932104 1408 30000 SH DEFINED 0 30000 0
AMERICAN FINL GROUP INC OHIO NOTE 1.486% 6/0 025932AD6 127 300000 PRN DEFINED 0 300000 0
AMERICAN INTL GROUP INC COM 026874107 1429 21560 SH DEFINED 0 20700 860
AMERICAN MED SYS HLDGS INC COM 02744M108 1673 90800 SH DEFINED 0 90800 0
AMERICAN REPROGRAPHICS CO COM 029263100 2639 82300 SH DEFINED 0 82300 0
AMERICAN SCIENCE & ENGR INC COM 029429107 1514 31200 SH DEFINED 0 31200 0
AMERICAN STS WTR CO COM 029899101 1809 47300 SH DEFINED 0 47300 0
AMERICAN TOWER CORP CL A 029912201 6357 174167 SH DEFINED 0 174167 0
AMERIPRISE FINL INC COM 03076C106 1642 35000 SH DEFINED 0 35000 0
AMERISTAR CASINOS INC COM 03070Q101 1324 61000 SH DEFINED 0 61000 0
AMERUS GROUP CO COM 03072M108 544 8000 SH DEFINED 0 8000 0
AMETEK INC NEW COM 031100100 6454 148200 SH DEFINED 0 148200 0
AMGEN INC COM 031162100 9508 132930 SH DEFINED 0 131540 1390
AMPCO-PITTSBURGH CORP COM 032037103 464 15000 SH DEFINED 0 15000 0
AMPHENOL CORP NEW CL A 032095101 7147 115400 SH DEFINED 0 115400 0
AMYLIN PHARMACEUTICALS INC COM 032346108 2556 58000 SH DEFINED 0 58000 0
ANADARKO PETE CORP COM 032511107 1297 29600 SH DEFINED 0 29600 0
ANGLO AMERN PLC ADR 03485P102 608 28800 SH DEFINED 0 25800 3000
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 1132 30000 SH DEFINED 0 30000 0
ANHEUSER BUSCH COS INC COM 035229103 1679 35350 SH DEFINED 0 35000 350
ANIXTER INTL INC COM 035290105 7607 134700 SH DEFINED 0 134700 0
ANIXTER INTL INC NOTE 7/0 035290AG0 213 250000 PRN DEFINED 0 250000 0
ANNTAYLOR STORES CORP COM 036115103 4688 112000 SH DEFINED 0 112000 0
ANSOFT CORP COM 036384105 757 30400 SH DEFINED 0 30400 0
ANSYS INC COM 03662Q105 4895 110800 SH DEFINED 0 110800 0
APACHE CORP COM 037411105 4061 64250 SH DEFINED 0 62780 1470
APEX SILVER MINES LTD ORD G04074103 417 25000 SH DEFINED 0 25000 0
APPLE COMPUTER INC COM 037833100 3464 45000 SH DEFINED 0 45000 0
APPLERA CORP COM AP BIO GRP 038020103 828 25000 SH DEFINED 0 25000 0
APPLIED INDL TECHNOLOGIES IN COM 03820C105 3051 125050 SH DEFINED 0 125050 0
APPLIED MATLS INC COM 038222105 3120 176000 SH DEFINED 0 176000 0
AQUA AMERICA INC COM 03836W103 2786 127000 SH DEFINED 0 127000 0
AQUANTIVE INC COM 03839G105 5440 230300 SH DEFINED 0 230300 0
ARCH CAP GROUP LTD ORD G0450A105 2686 42300 SH DEFINED 0 42300 0
ARCH CHEMICALS INC COM 03937R102 427 15000 SH DEFINED 0 15000 0
ARCHER DANIELS MIDLAND CO COM 039483102 8854 233740 SH DEFINED 0 232600 1140
ARGONAUT GROUP INC COM 040157109 1567 50500 SH DEFINED 0 50500 0
ARKANSAS BEST CORP DEL COM 040790107 977 22700 SH DEFINED 0 22700 0
ARMOR HOLDINGS INC COM 042260109 8462 147600 SH DEFINED 0 147600 0
ARMOR HOLDINGS INC NOTE 2.000%11/0 042260AC3 247 200000 PRN DEFINED 0 200000 0
ARTHROCARE CORP COM 043136100 6031 128700 SH DEFINED 0 128700 0
ASSURANT INC COM 04621X108 3130 58600 SH DEFINED 0 58600 0
ASTA FDG INC COM 046220109 776 20700 SH DEFINED 0 20700 0
AT&T INC COM 00206R102 9019 277000 SH DEFINED 0 277000 0
ATHEROGENICS INC NOTE 1.500% 2/0 047439AD6 270 350000 PRN DEFINED 0 350000 0
ATLAS AMER INC COM 049167109 452 10600 SH DEFINED 0 10600 0
ATMI INC COM 00207R101 3924 135000 SH DEFINED 0 135000 0
ATP OIL & GAS CORP COM 00208J108 480 13000 SH DEFINED 0 13000 0
AUDIOCODES LTD ORD M15342104 376 40000 SH DEFINED 0 40000 0
AUTOLIV INC COM 052800109 1571 28500 SH DEFINED 0 28500 0
AVALONBAY CMNTYS INC COM 053484101 1108 9200 SH DEFINED 0 9200 0
AVI BIOPHARMA INC COM 002346104 109 30000 SH DEFINED 0 30000 0
AVID TECHNOLOGY INC COM 05367P100 728 20000 SH DEFINED 0 20000 0
AVNET INC COM 053807103 804 41000 SH DEFINED 0 41000 0
AVNET INC DBCV 2.000% 3/1 053807AL7 143 150000 PRN DEFINED 0 150000 0
BAKER HUGHES INC COM 057224107 2806 41150 SH DEFINED 0 41000 150
BALDOR ELEC CO COM 057741100 555 18000 SH DEFINED 0 18000 0
BALL CORP COM 058498106 849 21000 SH DEFINED 0 21000 0
BANCO ITAU HLDG FINANCIERA S SP ADR 500 PFD 059602201 1965 65500 SH DEFINED 0 65500 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 249 5500 SH DEFINED 0 5500 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 1001 35000 SH DEFINED 0 35000 0
BANCORPSOUTH INC COM 059692103 233 8400 SH DEFINED 0 8400 0
BANK HAWAII CORP COM 062540109 6622 137500 SH DEFINED 0 137500 0
BANK MONTREAL QUE COM 063671101 808 13300 SH DEFINED 0 13300 0
BANK NOVA SCOTIA HALIFAX COM 064149107 590 13700 SH DEFINED 0 13700 0
BANKUNITED FINL CORP NOTE 3.125% 3/0 06652BAE3 328 350000 PRN DEFINED 0 350000 0
BANTA CORP COM 066821109 3299 69300 SH DEFINED 0 69300 0
BARD C R INC COM 067383109 4920 65600 SH DEFINED 0 65600 0
BARNES GROUP INC COM 067806109 443 25200 SH DEFINED 0 25200 0
BARNWELL INDS INC COM 068221100 240 12300 SH DEFINED 0 12300 0
BARR PHARMACEUTICALS INC COM 068306109 2493 48000 SH DEFINED 0 48000 0
BARRETT BUSINESS SERVICES IN COM 068463108 369 17200 SH DEFINED 0 17200 0
BAXTER INTL INC COM 071813109 3647 80214 SH DEFINED 0 80214 0
BCE INC COM NEW 05534B760 1408 51973 SH DEFINED 0 50417 1556
BE AEROSPACE INC COM 073302101 4315 204600 SH DEFINED 0 204600 0
BEACON ROOFING SUPPLY INC COM 073685109 1023 50550 SH DEFINED 0 50550 0
BEAR STEARNS COS INC COM 073902108 8602 61400 SH DEFINED 0 61400 0
BEBE STORES INC COM 075571109 4807 194000 SH DEFINED 0 194000 0
BECTON DICKINSON & CO COM 075887109 3710 52500 SH DEFINED 0 52500 0
BELDEN CDT INC COM 077454106 7302 191000 SH DEFINED 0 191000 0
BENCHMARK ELECTRS INC COM 08160H101 5524 205500 SH DEFINED 0 205500 0
BERKLEY W R CORP COM 084423102 11080 313087 SH DEFINED 0 313087 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2970 31 SH DEFINED 0 31 0
BERRY PETE CO CL A 085789105 225 8000 SH DEFINED 0 8000 0
BEST BUY INC SDCV 2.250% 1/1 086516AF8 363 300000 PRN DEFINED 0 300000 0
BG PLC ADR FIN INST N 055434203 963 15800 SH DEFINED 0 15800 0
BHP BILLITON LTD SPONSORED ADR 088606108 3513 92750 SH DEFINED 0 91500 1250
BIG LOTS INC COM 089302103 6141 310000 SH DEFINED 0 310000 0
BIO RAD LABS INC CL A 090572207 3551 50200 SH DEFINED 0 50200 0
BIO-REFERENCE LABS INC COM $.01 NEW 09057G602 231 10300 SH DEFINED 0 10300 0
BISYS GROUP INC COM 055472104 326 30000 SH DEFINED 0 30000 0
BJS RESTAURANTS INC COM 09180C106 429 19500 SH DEFINED 0 19500 0
BLACKROCK INC CL A 09247X101 6690 44900 SH DEFINED 0 44900 0
BMC SOFTWARE INC COM 055921100 4546 167000 SH DEFINED 0 167000 0
BOEING CO COM 097023105 2886 36600 SH DEFINED 0 36600 0
BOK FINL CORP COM NEW 05561Q201 229 4353 SH DEFINED 0 4353 0
BON-TON STORES INC COM 09776J101 372 12500 SH DEFINED 0 12500 0
BORDERS GROUP INC COM 099709107 510 25000 SH DEFINED 0 25000 0
BORG WARNER INC COM 099724106 4333 75800 SH DEFINED 0 75800 0
BOSTON BEER INC CL A 100557107 473 14400 SH DEFINED 0 14400 0
BOYD GAMING CORP COM 103304101 1845 48000 SH DEFINED 0 48000 0
BRADY CORP CL A 104674106 4240 120600 SH DEFINED 0 120600 0
BRE PROPERTIES INC CL A 05564E106 956 16000 SH DEFINED 0 16000 0
BRIGGS & STRATTON CORP COM 109043109 964 35000 SH DEFINED 0 35000 0
BRIGHT HORIZON FAMILY SOLUTI COM 109195107 497 11900 SH DEFINED 0 11900 0
BRINKS CO COM 109696104 4537 85500 SH DEFINED 0 85500 0
BRISTOW GROUP INC COM 110394103 1204 35000 SH DEFINED 0 35000 0
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BROADCOM CORP CL A 111320107 1684 55500 SH DEFINED 0 55500 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 1031 23250 SH DEFINED 0 23250 0
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BRUSH ENGINEERED MATLS INC COM 117421107 5471 220000 SH DEFINED 0 220000 0
BT GROUP PLC ADR 05577E101 7586 150000 SH DEFINED 0 150000 0
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