Schedule 13G

United States

Security and Exchange Commission

Washington, D.C. 20549

 

 

Schedule 13G

 

 

Under the Securities Act of 1934

(Amendment No.     )*

 

 

 

Navios Maritime Holdings Inc.


(Name of Issuer)

 

Common Stock


(Title of Class of Securities)

 

 

Y62196103


                                (CUSIP Number)                                

 

December 31, 2005


Date of Event Which Requires Filing of this Statement

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

x Rule 13d-1(b)

 

¨ Rule 13d-1(c)

 

¨ Rule 13d-1(d)


CUSIP No. Y62196103    13G     

 

  1  

NAME OF REPORTING PERSON

S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON

 

            DePrince, Race & Zollo, Inc.

            59-3299598

   
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  x

(b)  ¨

   
  3  

SEC USE ONLY

 

   
  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Incorporated in the State of Florida

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5    SOLE VOTING POWER

 

                2,400,360


  6    SHARED VOTING POWER

 

                none


  7    SOLE DISPOSITIVE POWER

 

                2,400,360


  8    SHARED DISPOSITIVE POWER

 

                none

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            2,400,360

   
10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

            No

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            6.02%

   
12  

TYPE OF REPORTING PERSON*

 

            IA

   

 

 


SCHEDULE 13 G

 

Item 1.

 

(a)

   Navios Maritime Holdings Inc.          
   

(b)

  

C/O International Shipping Enterprises

1225 Franklin Ave, Suite 325

Garden City, NY 11530

         

Item 2.

 

(a)

   DePrince, Race & Zollo, Inc.          
   

(b)

  

201 S. Orange Ave, Suite 850

Orlando, FL 32801

         
   

(c)

   USA          
   

(d)

   common stock          
   

(e)

   Y62196103          

Item 3.

  (e)    x          


Item 4.

   Ownership          
     (a)    2,400,360 shares          
     (b)    6.02%          
     (c)    (i)    2,400,360 shares          
          (iii)    2,400,360 shares          

Item 5.

   Ownership of Five Percent or Less of a Class     
     N/A     

Item 6.

   Ownership of More than Five Percent on Behalf of Another Person.          
     N/A          

Item 7.

   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
     N/A

Item 8.

   Identification and Classification of Members of the Group          
     N/A          

Item 9.

   Notice of Dissolution of Group          
     N/A          

Item 10.

   Certification          
     By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect.


SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: 2/03/2006

/s/    VICTOR A. ZOLLO, JR.        


Signature
Victor A. Zollo, Jr. - President