UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2007 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: Torchmark Corporation Address: 3700 South Stonebridge Drive McKinney, Texas 75070 Form 13F File Number: 28-1112 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: Reporting Manager: Name: Carol A. McCoy Title: Vice President, Associate Counsel & Secretary Phone: 205-325-4243 Signature, Place and Date of Signing: /s/ Carol A. McCoy ------------------ (Signature) Birmingham, AL August 10, 2007 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 reporting 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 reporting by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 26 Form 13F Information Table Value Total: $ 165,055 (thousands) List of Other Included Managers: None 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. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] FORM 13F INFORMATION TABLE Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 - ------------------------------ -------- --------- -------- ---------------- ---------- -------- ---------------- Voting authority Title of Value Shrs or SH/ Put/ Investment Other ---------------- Name of Issuer Class CUSIP (x$1000) prn amt PRN Call Discretion Managers Sole Shared None - -------------- -------- --------- -------- ------- --- ---- ---------- -------- ---- ------ ---- 1 Allstate Corp................. Common 020002101 13,994 227,500 SH Sole X 2 Ambac Finl Grp Inc............ Common 023139108 7,847 90,000 SH Sole X 3 Anadarko Petroleum Corp....... Common 032511107 8,838 170,000 SH Sole X 4 Arcelor Mittal................ Common 03937E101 3,058 49,000 SH Sole X 5 Argonaut Group Inc............ Common 040157109 508 16,289 SH Sole X 6 Bank of America Corp.......... Common 060505104 9,700 198,400 SH Sole X 7 CIT Group Inc................. Common 125581108 10,692 195,000 SH Sole X 8 Cummins Inc................... Common 231021106 14,169 140,000 SH Sole X 9 Encana Corp................... Common 292505104 6,624 107,800 SH Sole X 10 General Maritime Corp......... Common Y2692M103 8,034 300,000 SH Sole X 11 Hartford Finl Svc Grp Inc..... Common 416515104 2,423 24,600 SH Sole X 12 Home Depot Inc................ Common 437076102 5,686 144,500 SH Sole X 13 Komag Inc..................... Common 500453204 2,353 73,800 SH Sole X 14 Lowe's Cos Inc................ Common 54861107 4,588 149,500 SH Sole X 15 MBIA Inc...................... Common 55262C100 10,478 168,400 SH Sole X 16 Methanex Corp................. Common 59151K108 4,387 174,500 SH Sole X 17 MGIC Investment Corp Wisconsin Common 552848103 6,004 105,600 SH Sole X 18 OMI Corp...................... Common Y6476W104 2,305 78,900 SH Sole X 19 PMI Group Inc (The)........... Common 69344M101 2,546 57,000 SH Sole X 20 Radian Group Inc.............. Common 750236101 8,640 160,000 SH Sole X 21 Safeco Corp................... Common 786429100 13,959 224,200 SH Sole X 22 Seaboard Corp................. Common 811543107 3,220 1,373 23 Steel Dynamics Inc............ Common 858119100 6,035 144,000 SH Sole X 24 Torchmark Corp................ Common 891027104 4,288 64,000 SH Sole X 25 US Bancorp.................... Common 902973304 2,227 67,600 SH Sole X 26 Westlake Chemical Corp........ Common 960413102 2,452 87,200 SH Sole X