13F-HR 1 cmw474.txt FORM 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2003 Check here if Amendment [ x ]; Amendment Number: This Amendment (Check only one.): [ x ] is a restatement. [ ] adds new holdings entries. Institutional investment Manager Filing this Report: Name: Keeley Asset Management Corp. Address: 401 S. LaSalle Street Suite 1201 Chicago, IL 60605 13F File Number: 28-6810 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: John L. Keeley, Jr. Title: President Phone: 312-786-5000 Signature, Place, and Date of Signing: John L. Keeley, Jr., Chicago, IL, December 31, 2003 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT List of other Managers Reporting for this Manager: None I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 225 Form 13F Information Table Value Total: 896,809.30 List of Other Included Managers: None
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OFCUSIP (X1000) PRN AMT PRN CALL DISCRETIMANAGER SOLE SHARED NONE Allstate Corp COM 020002101 5,626 130,765SH SOLE 65,765 65,000 American Axl&Mfg Holdings COM 024061103 2,102 52,000SH SOLE 52,000 Amerus Group Co COM 03072m108 358 10,250SH SOLE 10,250 Ametek COM 031100100 2,027 42,000SH SOLE 20,000 22,000 Apache Corp COM 037411105 6,739 83,090SH SOLE 31,840 51,250 Apogent Technologies COM 03760a101 244 10,600SH SOLE 10,600 Aztar Corp COM 054802103 4,380 194,665SH SOLE 143,665 51,000 BKF Capital Group Inc. COM 05548g102 765 31,000SH SOLE 31,000 Bank Mutual Corp COM 063750103 3,963 347,915SH SOLE 291,415 56,500 BankAtlantic Bancorp Cl A COM 065908501 5,668 298,305SH SOLE 232,505 65,800 Barrick Gold Corp COM 067901108 511 22,500SH SOLE 22,500 Bell South COM 079860102 204 7,200SH SOLE 7,200 Berkshire Hills Bancorp Inc. COM 084680107 8,887 245,505SH SOLE 200,620 44,885 Boardwalk Bank *W EXP 1096611116 77 24,600SH SOLE 24,600 Boston Private Financial HldgCOM 101119105 1,863 75,000SH SOLE 75,000 Bowne & Co Inc COM 103043105 1,138 83,955SH SOLE 83,520 435 Brinks Co COM 109696104 7,430 328,610SH SOLE 254,315 74,295 Brookline Bancorp Inc COM 11373m107 4,659 303,703SH SOLE 303,703 CFS Bancorp COM 12525d102 1,885 127,383SH SOLE 103,519 23,864 C I T Group COM 125581108 14,051 390,850SH SOLE 217,450 173,400 CMS Energy Corp COM 125896100 1,470 172,500SH SOLE 172,500 California Pizza Kitchen Inc COM 13054d109 302 15,000SH SOLE 15,000 Canadian Pacific Limited COM 13645t100 8,838 313,955SH SOLE 171,455 142,500 Catellus Developement COM 149111106 13,425 556,587SH SOLE 353,537 203,050 Cendant Corp. COM 151313103 414 18,600SH SOLE 18,600 Centerpoint Energy Inc HoldinCOM 15189t107 921 95,000SH SOLE 95,000 Ceridian Corp COM 156779100 5,900 281,780SH SOLE 133,760 148,020 Certegy Inc COM 156880106 3,967 120,957SH SOLE 78,957 42,000 Chesapeake Energy COM 165167107 2,003 147,500SH SOLE 113,000 34,500 Chesterfield Financial Corp COM 166435107 6,055 254,945SH SOLE 234,140 20,805 Chicago Bridge & Iron CompanyCOM 167250109 12,918 446,975SH SOLE 376,795 70,180 Choice Hotels Holding Inc COM 169905106 17,485 496,030SH SOLE 330,765 165,265 Chiquita Brands Intl *W EXP 0170032114 244 32,600SH SOLE 32,600 Chiquita Brands Int'l Inc. COM 170032809 7,573 336,150SH SOLE 266,320 69,830 Cimarex Energy Co COM 171798101 5,243 196,435SH SOLE 137,535 58,900 Cincinnati Financial COM 172062101 4,005 95,935SH SOLE 63,435 32,500 Circor Intl Inc COM 17273k109 4,215 174,880SH SOLE 149,420 25,460 Citigroup Inc COM 172967101 574 11,816SH SOLE 11,816 Citizens Communications COM 17453b101 5,031 405,049SH SOLE 396,204 8,845 Citizens First Bancorp COM 17461r106 4,219 185,055SH SOLE 151,455 33,600 Comerica COM 200340107 207 3,700SH SOLE 3,700 Comm Bancorp Inc NJ COM 200519106 342 6,500SH SOLE 6,500 Commercial Metals Co COM 201723103 8,374 275,476SH SOLE 214,081 61,395 Comstock Resources Inc. COM 205768203 6,296 326,211SH SOLE 243,721 82,490 Conocophillips COM 20825c104 256 3,900SH SOLE 3,900 Conseco Inc. *W EXP 0208464123 232 32,200SH SOLE 32,200 Conseco Inc. New COM 208464883 14,962 686,315SH SOLE 429,575 256,740 Consol Energy Inc. COM 20854P109 751 29,000SH SOLE 14,000 15,000 Corus Bankshares Inc COM 220873103 248 8,000SH SOLE 8,000 Cox Communications, Inc CL A 224044107 2,239 65,000SH SOLE 65,000 Crane Co. COM 224399105 4,348 141,440SH SOLE 100,000 41,440 Curtiss-Wright CL B 231561408 292 6,494SH SOLE 6,494 Del Monte Foods Co. COM 24522P103 3,826 367,870SH SOLE 265,490 102,380 Deltic Timber Corp COM 247850100 5,291 174,040SH SOLE 134,485 39,555 Dollar Thrifty Auto G COM 256743105 226 8,700SH SOLE 8,700 Dover Corp. COM 260003108 6,448 162,225SH SOLE 71,025 91,200 Dover Downs Gaming & EntertaiCOM 260095104 173 18,335SH SOLE 18,335 Dun & Bradstreet COM 26483e100 15,786 311,302SH SOLE 214,997 96,305 Duquesne Lt Hldgs Inc COM 266233105 8,125 443,025SH SOLE 341,425 101,600 E*Trade Group Inc COM 269246104 696 55,000SH SOLE 55,000 Eastman Kodak Inc. COM 277461109 372 14,500SH SOLE 14,500 El Paso Corporation COM 28336l109 410 50,000SH SOLE 50,000 Encore Acquisition Co. COM 29255w100 1,233 50,000SH SOLE 50,000 Energizer Holdings Inc. COM 29266r108 3,469 92,350SH SOLE 64,000 28,350 Enpro Industries Inc. COM 29355x107 8,706 624,070SH SOLE 491,795 132,275 Equifax Inc. COM 294429105 6,358 259,495SH SOLE 136,515 122,980 Evergreen Resource Inc. COM 299900308 6,387 196,470SH SOLE 165,370 31,100 FMC Technologies Inc. COM 30249u101 13,078 561,300SH SOLE 366,400 194,900 Fedders Corp COM 313135105 864 120,000SH SOLE 120,000 Fidelity National Financial ICOM 316326107 10,709 276,143SH SOLE 155,643 120,500 First Niagara Financial COM 33582v108 1,796 120,000SH SOLE 120,000 Flowers Foods Inc COM 343498101 19,719 764,291SH SOLE 515,684 248,607 Flowserve Corp. COM 34354p105 1,119 53,575SH SOLE 53,575 Fortune Brands COM 349631101 9,787 136,895SH SOLE 73,365 63,530 Friedman Billings Ramsey CL A 358434108 711 30,800SH SOLE 30,800 Furniture Brands Int'l Inc COM 360921100 4,343 148,075SH SOLE 108,075 40,000 Gardner Denver Inc COM 365558105 2,005 84,000SH SOLE 41,500 42,500 Gaylord Entmt Co. COM 367905106 5,217 174,790SH SOLE 137,790 37,000 Getty Realty Corporation COM 374297109 2,327 89,000SH SOLE 89,000 Gray Television Inc. COM 389375106 3,119 206,300SH SOLE 126,800 79,500 Gray Television CL A 389375205 705 46,500SH SOLE 46,500 Greenpoint Financial Corp COM 395384100 6,168 174,621SH SOLE 107,821 66,800 Griffon Corp COM 398433102 4,622 228,140SH SOLE 228,140 Hanger Orthopedic Group COM 41043f208 4,568 293,400SH SOLE 220,000 73,400 Harbor FL Bancshares COM 411901101 3,688 124,010SH SOLE 88,110 35,900 Hartford Financial Svcs GroupCOM 416515104 6,878 116,510SH SOLE 57,310 59,200 Harvest Natural Resources IncCOM 41754v103 1,403 141,000SH SOLE 141,000 Hearst-Argyle Television COM 422317107 6,658 241,580SH SOLE 112,520 129,060 Honeywell COM 438516106 6,536 195,500SH SOLE 75,500 120,000 Hudson City Bancorp Inc. COM 443683107 5,975 156,500SH SOLE 124,000 32,500 Hudson River Bancorp Inc COM 444128102 5,920 151,680SH SOLE 145,480 6,200 IHOP Corporation COM 449623107 3,920 101,860SH SOLE 70,860 31,000 ITT Corp. COM 450911102 8,572 115,510SH SOLE 68,880 46,630 Illinois Tool Works COM 452308109 243 2,900SH SOLE 2,900 Indymac Bancorp. COM 456607100 223 7,500SH SOLE 7,500 Interactive Data Corp COM 45840j107 3,503 211,550SH SOLE 196,550 15,000 IShares Tr Russell MidCap ValRUSSELL 464287473 215 2,300SH SOLE 2,300 Ishares Tr Russell 2000 ValueRUSL 200464287630 229 1,425SH SOLE 1,425 IShares Russell 2000 RUSSELL 464287655 715 6,450SH SOLE 6,450 IShares Tr Dow Jones US Finl DJ US FI464287788 854 9,700SH SOLE 9,700 JLG Industries Inc. COM 466210101 533 35,000SH SOLE 35,000 Janus Cap Group Inc COM 47102x105 328 20,000SH SOLE 20,000 Jefferies Group Inc. COM 472319102 7,390 223,800SH SOLE 182,400 41,400 Journal Register Co COM 481138105 4,977 240,450SH SOLE 174,350 66,100 Joy Global Inc COM 481165108 8,261 315,901SH SOLE 248,116 67,785 Kansas City Southern Ind Inc COM 485170302 7,487 522,857SH SOLE 418,542 104,315 Key Energy Service COM 492914106 2,887 280,050SH SOLE 213,850 66,200 Leggett & Platt Inc. COM 524660107 203 9,400SH SOLE 9,400 Lennar Corp CL A 526057104 1,323 13,784SH SOLE 13,784 Leucadia National Corp COM 527288104 10,265 222,668SH SOLE 121,268 101,400 Liberty Media Corp COM SER 530718105 2,509 211,000SH SOLE 211,000 Limited Brands Inc COM 532716107 2,057 114,105SH SOLE 114,105 Lindsay Mfg Co COM 535555106 990 39,200SH SOLE 39,200 Longview Fibre Co Washington COM 543213102 4,602 372,600SH SOLE 253,300 119,300 Magnum Hunter Res *W EXP 055972f138 30 55,120SH SOLE 40,544 14,576 Magnum Hunter Res COM PAR 55972f203 5,620 590,945SH SOLE 475,655 115,290 Manitowoc Company Inc. COM 563571108 1,182 37,900SH SOLE 33,700 4,200 Marathon Oil Corp COM 565849106 3,832 115,800SH SOLE 68,800 47,000 Marshall & Ilsley Corp COM 571834100 252 6,600SH SOLE 6,600 Marriott Intl CL A 571903202 6,530 141,350SH SOLE 70,670 70,680 Martin Marietta Mater COM 573284106 4,519 96,200SH SOLE 69,510 26,690 Masco Corp. COM 574599106 5,232 190,897SH SOLE 126,397 64,500 Massey Energy Co. COM 576206106 4,178 200,845SH SOLE 167,045 33,800 McDermott Int'l COM 580037109 550 46,000SH SOLE 46,000 McMoran Exploration Co. COM 582411104 450 24,000SH SOLE 24,000 Meadowbrook Insurance Group ICOM 58319p108 791 187,000SH SOLE 187,000 Media General Inc COM 584404107 7,673 117,860SH SOLE 67,410 50,450 Meredith Corp. COM 589433101 8,538 174,930SH SOLE 100,830 74,100 Merrill Lynch & Co. COM 590188108 528 9,000SH SOLE 9,000 Methode Electrs CL A 591520200 7,155 585,073SH SOLE 463,003 122,070 MetLife Inc COM 59156r108 7,679 228,055SH SOLE 114,155 113,900 Milacron Inc COM 598709103 250 60,000SH SOLE 60,000 Moody Corp COM 615369105 9,405 155,325SH SOLE 88,825 66,500 Moog Inc. CL A 615394202 2,322 47,000SH SOLE 34,000 13,000 Moog Inc. CL B 615394301 900 18,000SH SOLE 18,000 Moore Wallace Inc COM 615857109 432 23,080SH SOLE 22,585 495 Myers Inds. Inc. COM 628464109 2,000 165,000SH SOLE 88,000 77,000 Neiman Marcus Group CL B 640204301 5,305 106,100SH SOLE 75,080 31,020 Netbank Inc. COM 640933107 680 50,900SH SOLE 50,900 New York Times CL A 650111107 1,125 23,545SH SOLE 15,545 8,000 Nordstrom Inc. COM 655664100 254 7,400SH SOLE 7,400 Occidental Petroleum COM 674599105 5,449 129,010SH SOLE 88,360 40,650 OceanFirst Financial Corp COM 675234108 977 36,000SH SOLE 36,000 Old Republic Intl COM 680223104 14,224 610,897SH SOLE 333,467 277,430 Pactiv Corporation COM 695257105 2,933 122,730SH SOLE 109,730 13,000 Park Place Entertainment COM 700690100 883 81,500SH SOLE 81,500 Partners Trust Financial GrouCOM 70213a103 9,917 291,689SH SOLE 243,844 47,845 Pepsi Bottling Group Inc. COM 713409100 2,837 117,325SH SOLE 97,325 20,000 Pepsico Inc COM 713448108 5,119 109,810SH SOLE 43,500 66,310 Philadelphia Subn Corp. COM 718009608 2,586 117,000SH SOLE 100,000 17,000 Phoenix Cos Inc COM 71902e109 5,788 480,745SH SOLE 364,245 116,500 Pinnacle Entertainment Inc. COM 723456109 1,109 119,000SH SOLE 119,000 Pioneer Natural Resources COM 723787107 335 10,500SH SOLE 10,500 Plains Expl & Prod Co COM 726505100 6,835 444,130SH SOLE 340,130 104,000 Prime Hospitality Corp COM 741917108 2,849 279,300SH SOLE 192,300 87,000 Principal Financial Group IncCOM 74251v102 8,239 249,145SH SOLE 131,845 117,300 Private Bancorp Inc. COM 742962103 1,404 31,000SH SOLE 31,000 Providence & Worcester RR COM 743737108 2,296 258,285SH SOLE 183,485 74,800 Provident Finl Holding Inc COM 743868101 1,170 32,250SH SOLE 32,250 Provident Financial Services COM 74386t105 12,576 665,405SH SOLE 414,840 250,565 Prudential Financial Inc. COM 744320102 8,201 196,330SH SOLE 103,170 93,160 Pulitzer Pubg Co COM 745769109 4,992 92,450SH SOLE 67,750 24,700 R & G Finl Corp Cl B COM 749136107 398 10,000SH SOLE 10,000 RH Donnelly Corp. COM 74955w307 3,584 89,960SH SOLE 89,755 205 RPM International Inc. COM 749685103 255 15,500SH SOLE 15,500 Ralcorp Holdings Inc COM 751028101 9,206 293,560SH SOLE 251,635 41,925 Regal Beloit Corp. COM 758750103 1,899 86,300SH SOLE 57,800 28,500 Reliant Resources Inc COM 75952B105 1,839 249,800SH SOLE 249,800 Remington Oil & Gas Corp. COM 759594302 1,860 94,465SH SOLE 69,965 24,500 Rockwell Automation Corp. COM 773903109 10,683 300,080SH SOLE 138,920 161,160 Roto Rooter Inc COM 778787101 4,714 102,250SH SOLE 82,050 20,200 Ryder Systems COM 783549108 3,381 99,000SH SOLE 66,000 33,000 SPDR Trust Ser 1 Unit UNIT SER78462f103 890 8,000SH SOLE 8,000 Safeguard Scientifics Inc. COM 786449108 333 82,500SH SOLE 82,500 St. Joe Corp. COM 790148100 9,168 245,860SH SOLE 152,110 93,750 Sara Lee Corp COM 803111103 3,315 152,680SH SOLE 152,680 Sauer Danfoss Inc. COM 804137107 2,324 143,450SH SOLE 101,950 41,500 Henry Schein Inc. COM 806407102 284 4,200SH SOLE 4,200 Sector Sdpr Industrial SBI INT-81369y704 375 14,000SH SOLE 14,000 ServiceMaster Co COM 81760n109 200 17,200SH SOLE 17,200 Sirius Satellite Radio Inc COM 82966u103 490 155,000SH SOLE 155,000 Smucker JM Co. COM 832696405 11,134 245,848SH SOLE 132,953 112,895 Spinnaker Exploration Co. COM 84855w109 2,791 86,500SH SOLE 86,500 Stage Stores Inc COM 85254c305 1,818 65,150SH SOLE 58,450 6,700 Stancorp Financial Corp COM 852891100 4,072 64,765SH SOLE 64,765 Steak N Shake COM 857873103 3,289 184,255SH SOLE 116,255 68,000 Sunrise Assited Living Inc COM 86768k106 465 12,000SH SOLE 12,000 Sybron Dental Specialties IncCOM 871142105 16,171 575,485SH SOLE 366,785 208,700 Tenneco Inc COM 880349105 1,874 280,100SH SOLE 192,100 88,000 Terex Corp. COM 880779103 6,758 237,275SH SOLE 190,275 47,000 Tesoro Petroleum COM 881609101 437 30,000SH SOLE 30,000 Texas Genco Holdings Inc COM 882443104 2,414 74,283SH SOLE 61,283 13,000 Textron COM 883203101 9,766 171,150SH SOLE 91,150 80,000 Thomas & Betts Corp. COM 884315102 2,744 119,890SH SOLE 67,490 52,400 Thomas Indust COM 884425109 5,008 144,500SH SOLE 144,500 Tierone Corporation COM 88650r108 6,078 264,735SH SOLE 209,535 55,200 Timken Co. COM 887389104 2,332 116,235SH SOLE 115,645 590 Spdr FD Materials Select SectSBI MATE81369y100 400 15,000SH SOLE 15,000 Triarc Co. Inc. CL A 895927101 2,642 223,515SH SOLE 174,640 48,875 Triarc Co Inc Cl B Ser I CL B SER895927309 4,127 382,830SH SOLE 295,680 87,150 Tyco Intl Inc. COM 902124106 398 15,000SH SOLE 15,000 Tyler Corp COM 902252105 1,581 164,180SH SOLE 164,180 Union Pacific Corp COM 907818108 6,417 92,355SH SOLE 48,855 43,500 Unionbancal Corp COM 908906100 489 8,500SH SOLE 8,500 United Parcel Service Inc. COM 911312106 209 2,800SH SOLE 2,800 United States Steel Corp. NewCOM 912909108 473 13,500SH SOLE 13,500 Unitrin Inc COM 913275103 13,059 315,360SH SOLE 208,210 107,150 Varco Intl Inc COM 922122106 229 11,100SH SOLE 11,100 Viacom Inc CL B 925524308 5,522 124,436SH SOLE 53,996 70,440 W Holding Company Inc. COM 929251106 309 16,625SH SOLE 16,625 Wabtec COM 929740108 3,661 214,822SH SOLE 206,422 8,400 Waddell & Reed Fin Cl A CL A 930059100 10,393 443,025SH SOLE 258,725 184,300 Wal Mart Stores COM 931142103 318 6,000SH SOLE 6,000 Water Pik Technologies Inc. COM 94113u100 4,819 392,785SH SOLE 323,635 69,150 Watts Inds Inc Cl A CL A 942749102 1,840 82,890SH SOLE 76,090 6,800 Waypoint Financial COM 946756103 3,341 154,015SH SOLE 136,522 17,493 Webster Finl Corp Waterbury CCOM 947890109 7,424 161,885SH SOLE 52,085 109,800 Westar Energy Inc COM 95709t100 14,940 737,790SH SOLE 455,805 281,985 Westwood Hldg Group COM 961765104 854 48,000SH SOLE 48,000 Wintrust Financial Corp COM 97650W108 1,037 23,000SH SOLE 23,000 Wolverine Tube Inc. COM 978093102 820 130,100SH SOLE 130,100 Xerox COM 984121103 428 31,000SH SOLE 31,000 Ingersoll Rand CL A G4776G101 6,143 90,505SH SOLE 38,005 52,500 WP Stewart & Co. Ltd. COM g84922106 353 16,386SH SOLE 16,186 200 Transocean ORD g90078109 468 19,500SH SOLE 19,500