13F-HR 1 form13f.txt KEELEY ASSET MANAGEMENT CORPORATION FORM 13F 6-30-2006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 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: 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, August 10, 2006 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: 291 Form 13F Information Table Value Total: 4,541,376.00 List of Other Included Managers: 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 ------------------------------ ---------------- --------- -------- ------- --- ---- ------- -------- ------- ------ ------ ACCO Brands Corp. COM 00081t108 45747 2088917 SH SOLE 1790302 0 298615 AFC Enterprises Inc. COM 00104q107 9991 783600 SH SOLE 783600 0 Actuant Corp Cl A CL A NEW 00508x203 15859 317500 SH SOLE 317500 0 Adesa Inc COM 00686u104 26282 1181750 SH SOLE 1068750 0 113000 Advanced Micro Devices COM 007903107 1363 55800 SH SOLE 55800 0 Albany Int'l Corp Cl A CL A 012348108 18122 427500 SH SOLE 427500 0 Alleghany Energy Inc. COM 017361106 36245 977732 SH SOLE 762027 0 215705 Allegheny Tech Inc COM 01741r102 45461 656578 SH SOLE 570928 0 85650 Allete Inc COM NEW 018522300 10357 218733 SH SOLE 160733 0 58000 Allis Chalmers Energy Inc. COM PAR $.01NW 019645506 9676 712000 SH SOLE 712000 0 Allstate Corp COM 020002101 514 9400 SH SOLE 9400 0 Alpha Natural Resource Inc. COM 02076x102 38062 1939935 SH SOLE 1774300 0 165635 Amerco COM 023586100 24719 245565 SH SOLE 207265 0 38300 American Railcar Industries COM 02916p103 45120 1362720 SH SOLE 1246390 0 116330 Amerus Group Co COM 03072m108 477 8150 SH SOLE 8150 0 Ameriprise Financial Inc COM 03076c106 19358 433355 SH SOLE 317555 0 115800 Ametek COM 031100100 483 10200 SH SOLE 0 0 10200 Apache Corp COM 037411105 5255 77000 SH SOLE 57000 0 20000 Aqua America Inc COM 03836w103 3305 145000 SH SOLE 145000 0 Aquila Inc COM 03840p102 9064 2153000 SH SOLE 2153000 0 Arch Coal Inc. COM 039380100 1017 24000 SH SOLE 24000 0 Archer Daniels Midland COM 039483102 9395 227598 SH SOLE 227598 0 Ashland Oil COM 044209104 18626 279250 SH SOLE 214050 0 65200 Atlas Air Worldwide Holdings COM NEW 049164205 13290 271000 SH SOLE 271000 0 Bank of America COM 060505104 770 16000 SH SOLE 16000 0 Bank of Montreal COM 063671101 539 10000 SH SOLE 10000 0 Bank Mutual Corp COM 063750103 200 16400 SH SOLE 16400 0 BankAtlantic Bancorp Cl A CL A 065908501 34591 2330931 SH SOLE 2111021 0 219910 BankFinancial Corp COM 06643p104 24492 1415727 SH SOLE 1382727 0 33000 Best Buy COM 086516101 932 17000 SH SOLE 17000 0 Bois D'Arc Energy Inc. COM 09738u103 12188 740000 SH SOLE 740000 0 Boston Private Financial Hldgs COM 101119105 349 12500 SH SOLE 12500 0 Brady Corporation CL A 104674106 15473 420000 SH SOLE 420000 0 Brinks Co COM 109696104 50849 901416 SH SOLE 828166 0 73250 Bronco Drilling Company Inc COM 112211107 418 20000 SH SOLE 20000 0 Brush Engineered Matl Inc Hldg COM 117421107 15220 729980 SH SOLE 729980 0 Bucyrus International CL A 118759109 38335 759116 SH SOLE 671966 0 87150 CB Richard Ellis Group CL A 12497t101 276 11100 SH SOLE 11100 0 C I T Group COM 125581108 15833 302795 SH SOLE 210595 0 92200 Cleco Corp. COM 12561w105 24119 1037360 SH SOLE 1037360 0 CMS Energy Corp COM 125896100 2866 221520 SH SOLE 185410 0 36110 CNX Gas Corp. COM 12618h309 37577 1252550 SH SOLE 1143050 0 109500 CVS Corp COM 126650100 221 7200 SH SOLE 7200 0 Canadian Pacific Limited COM 13645t100 7210 140985 SH SOLE 140985 0 Carpenter Technology Corp COM 144285103 22176 192000 SH SOLE 192000 0 Carrizo Oil & Gas Inc COM 144577103 15890 507500 SH SOLE 507500 0 Castle A M & Co COM 148411101 17093 530000 SH SOLE 530000 0 Cavalier Homes Inc COM 149507105 7129 1345000 SH SOLE 1345000 0 Centerpoint Energy Inc Holding COM 15189t107 631 50510 SH SOLE 50510 0 Cenveo Inc. 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COM 204940100 12081 1046000 SH SOLE 1046000 0 Comstock Resources Inc. COM NEW 205768203 43899 1470163 SH SOLE 1340943 0 129220 Conseco Inc. New COM NEW 208464883 60126 2602840 SH SOLE 2311620 0 291220 Crane Co. COM 224399105 6394 153710 SH SOLE 112710 0 41000 Crawford & Co. Cl B CL B 224633107 3590 500000 SH SOLE 500000 0 Crown Holdings Inc. COM 228368106 6273 402890 SH SOLE 320390 0 82500 Covanta Hldg Corp COM 22282e102 44462 2519088 SH SOLE 2131783 0 387305 DPL Inc. COM 233293109 13668 510000 SH SOLE 510000 0 Dean Foods Co. COM 242370104 4452 119710 SH SOLE 82410 0 37300 Del Monte Foods Co. COM 24522P103 1137 101286 SH SOLE 101286 0 Deltic Timber Corp COM 247850100 37265 661082 SH SOLE 604312 0 56770 Denny's Corporation COM 24869p104 12349 3346500 SH SOLE 3346500 0 Diamonds Trust Ser I Unit UNIT SER 1 252787106 324 2900 SH SOLE 2900 0 Dillard Inc. CL A 254067101 32346 1015570 SH SOLE 905270 0 110300 Dover Corp. 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COM 357023100 9159 165000 SH SOLE 165000 0 Frozen Food Express Inds Inc COM 359360104 4573 415000 SH SOLE 415000 0 GP Strategies Corp. COM 36225v104 4254 551800 SH SOLE 551800 0 Gardner Denver Inc COM 365558105 28221 733000 SH SOLE 590400 0 142600 Gasco Energy Inc COM 367220100 27463 6327800 SH SOLE 5788175 0 539625 Gaylord Entmt Co. COM 367905106 27175 622705 SH SOLE 589505 0 33200 Gencorp COM 368682100 33011 2059340 SH SOLE 1912970 0 146370 General Cable Corp. COM 369300108 21665 619000 SH SOLE 619000 0 Genesee & Wyoming Inc. CL A 371559105 35663 1005440 SH SOLE 888140 0 117300 Genworth Financial COM CL A 37247d106 11186 321075 SH SOLE 284075 0 37000 Gerdau Ameristeel Corp. COM 37373p105 21516 2143000 SH SOLE 2143000 0 Global Power Equipment Group COM 37941P108 7680 2415000 SH SOLE 2415000 0 Goldman Sachs Group Inc. COM 38141G104 752 5000 SH SOLE 5000 0 Goodrich Petroleum Corp. COM NEW 382410405 29162 1027200 SH SOLE 875600 0 151600 Granite Construction Inc COM 387328107 20145 445000 SH SOLE 445000 0 Greenbrier Cos Inc COM 393657101 12441 380000 SH SOLE 380000 0 Griffon Corp COM 398433102 224 8565 SH SOLE 8565 0 Halliburton Co COM 406216101 2469 33265 SH SOLE 33265 0 Hartford Financial Svcs Group COM 416515104 7578 89573 SH SOLE 67273 0 22300 Hearst-Argyle Television COM 422317107 1526 69165 SH SOLE 69165 0 Helmerich & Payne Inc COM 423452101 5693 94470 SH SOLE 94470 0 Hercules Offshore Inc. COM 427093109 14613 417500 SH SOLE 417500 0 Heritage Financial Group COM 42725u109 360 26797 SH SOLE 26797 0 Hexcel Corp COM 428291108 31839 2026695 SH SOLE 1866205 0 160490 HomeFederal Bancorp COM 43709a101 8901 651616 SH SOLE 651616 0 Honeywell COM 438516106 8262 205010 SH SOLE 126310 0 78700 Hornbeck Offshores Services In COM 440543106 19523 549630 SH SOLE 549630 0 Hudson City Bancorp Inc. COM 443683107 13301 997850 SH SOLE 773850 0 224000 IHOP Corporation COM 449623107 21621 449685 SH SOLE 390385 0 59300 ITT Corp. COM 450911102 14175 286355 SH SOLE 226495 0 59860 Infinity Energy Resources Inc. COM 45663l403 4865 700000 SH SOLE 700000 0 Interactive Data Corp COM 45840j107 9366 466185 SH SOLE 441385 0 24800 ICG Inc. COM 45928h106 138 19205 SH SOLE 19205 0 Interstate Hotels & Resorts In COM 46088s106 7850 845000 SH SOLE 845000 0 JP Morgan Chase & Co COM 46625h100 991 23600 SH SOLE 23600 0 Jacuzzi Brands Inc COM 469865109 1646 187100 SH SOLE 149200 0 37900 Janus Cap Group Inc COM 47102x105 3548 198225 SH SOLE 198225 0 Jefferies Group Inc. COM 472319102 15038 507530 SH SOLE 389730 0 117800 Joy Global Inc COM 481165108 59955 1150990 SH SOLE 1022795 0 128195 KFX Inc. COM 48245l107 7678 502500 SH SOLE 502500 0 Kansas City Southern Ind Inc COM NEW 485170302 53515 1931937 SH SOLE 1762762 0 169175 Kaydon Corp. COM 486587108 21382 573100 SH SOLE 535600 0 37500 LKQ Corporation COM 501889208 12255 645000 SH SOLE 645000 0 Labranche & Co. Inc. COM 505447102 11589 957000 SH SOLE 957000 0 Ladish Co Inc COM NEW 505754200 20421 545000 SH SOLE 545000 0 Lamson & Sessions COM 513696104 14180 500000 SH SOLE 500000 0 Lance Inc. COM 514606102 15826 687500 SH SOLE 687500 0 Las Vegas Sands Corp COM 517834107 856 11000 SH SOLE 11000 0 Legacy Bancorp Inc Cl A CL A 52463g105 325 21000 SH SOLE 21000 0 Leucadia National Corp COM 527288104 29943 1025782 SH SOLE 751492 0 274290 Levitt Corp FL Cl A CL A 52742p108 25776 1611026 SH SOLE 1451661 0 159365 Lincoln Electric Holding Inc. COM 533900106 18356 293000 SH SOLE 293000 0 Lindsay Mfg Co COM 535555106 3816 140700 SH SOLE 140700 0 Lone StarStkhse COM 542307103 14427 550000 SH SOLE 550000 0 Lufkin Inds. Inc COM 549764108 16878 284000 SH SOLE 284000 0 Mac-Gray Corp COM 554153106 5774 467500 SH SOLE 467500 0 Manitowoc Company Inc. COM 563571108 16866 379000 SH SOLE 350400 0 28600 Manulife Finl Corp COM 56501r106 635 20000 SH SOLE 20000 0 Marathon Oil Corp COM 565849106 5748 69000 SH SOLE 69000 0 Marcus Corp. COM 566330106 13729 657500 SH SOLE 657500 0 Marketaxess Hldgs Inc COM 57060d108 12898 1171500 SH SOLE 1171500 0 Marquette National Corp COM 571599109 750 600 SH SOLE 600 0 Marshall & Ilsley Corp COM 571834100 864 18900 SH SOLE 18900 0 Marriott Intl Cl A CL A 571903202 9098 238670 SH SOLE 145670 0 93000 Martin Marietta Mater COM 573284106 16654 182715 SH SOLE 159925 0 22790 Massey Energy Co. COM 576206106 29177 810475 SH SOLE 715675 0 94800 McDermott Int'l COM 580037109 80873 1778601 SH SOLE 1606799 0 171802 McMoran Exploration Co. COM 582411104 13816 785000 SH SOLE 785000 0 Meadowbrook Insurance Group In COM 58319p108 5117 615000 SH SOLE 615000 0 Mellon Bank COM 58551a108 3121 90640 SH SOLE 67640 0 23000 Mercer Insurance Group Inc. COM 587902107 609 32500 SH SOLE 32500 0 Meredith Corp. 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COM 845467109 4142 132935 SH SOLE 132935 0 Stage Stores Inc COM NEW 85254c305 14446 437755 SH SOLE 437755 0 Standard Parking Corp COM 853790103 7723 285200 SH SOLE 285200 0 Steak N Shake COM 857873103 25787 1703220 SH SOLE 1547620 0 155600 Streettracks Gold Tr Gold Shar GOLD SHS 863307104 306 5000 SH SOLE 5000 0 Streettracks Ser Tr KBW Cap KBW CAP MK ETF 86330e778 779 13900 SH SOLE 13900 0 Sun Life Finl Inc COM 866796105 599 15000 SH SOLE 15000 0 Suncor Energy Inc. COM 867229106 1369 16900 SH SOLE 16900 0 Superior Essex Inc COM 86815v105 15713 525000 SH SOLE 525000 0 Superiour Well Services Inc COM 86837x105 12139 487500 SH SOLE 487500 0 Teledyne COM 879360105 13762 420100 SH SOLE 420100 0 Tenneco Automotive Inc COM 880349105 17912 688940 SH SOLE 618940 0 70000 Terex Corp. COM 880779103 71948 728957 SH SOLE 662357 0 66600 Texas Indust COM 882491103 28808 542520 SH SOLE 510520 0 32000 Textron COM 883203101 13949 151320 SH SOLE 112320 0 39000 Thomas & Betts Corp. 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COM 896522109 5050 125000 SH SOLE 125000 0 US Concrete Inc COM 90333L102 8951 810000 SH SOLE 810000 0 Ultra Pete Corp COM 903914109 1897 32000 SH SOLE 32000 0 Union Pacific Corp COM 907818108 7124 76638 SH SOLE 76638 0 Unionbancal Corp COM 908906100 407 6300 SH SOLE 6300 0 United Financial Corp COM 909919102 399 18643 SH SOLE 18643 0 U-Store-It Trust COM 91274f104 217 11500 SH SOLE 11500 0 U S Steel COM 912909108 701 10000 SH SOLE 10000 0 United Technlogies COM 913017109 241 3800 SH SOLE 3800 0 Unitrin Inc COM 913275103 21912 502693 SH SOLE 475443 0 27250 Universal Compression Holding COM 913431102 22711 360670 SH SOLE 358870 0 1800 Vail Resorts Inc. COM 91879q109 20777 560030 SH SOLE 557430 0 2600 Valmont Inds. Inc. COM 920253101 17201 370000 SH SOLE 370000 0 Van Der Moolen Hldg. SPONSORED ADR 921020103 10704 1476411 SH SOLE 1476411 0 Veritas DGC Inc. COM 92343p107 18569 360000 SH SOLE 360000 0 WCI Cmntys Inc COM 92923c104 11132 552735 SH SOLE 549735 0 3000 Wabtec COM 929740108 26946 720476 SH SOLE 691976 0 28500 Waddell & Reed Fin Cl A CL A 930059100 3444 167500 SH SOLE 167500 0 0 Walter Industries COM 93317Q105 41851 725950 SH SOLE 625950 0 100000 Watts Water Technologies Cl A CL A 942749102 16886 503300 SH SOLE 485200 0 18100 Webster Finl Corp Waterbury CT COM 947890109 6206 130825 SH SOLE 99925 0 30900 Wells Fargo COM 949746101 470 7000 SH SOLE 7000 0 Wesco International Inc. COM 95082p105 46453 673235 SH SOLE 580535 0 92700 Westar Energy Inc COM 95709t100 39043 1854793 SH SOLE 1562798 0 291995 Westside Energy Corp. COM 96149r100 2099 718800 SH SOLE 718800 0 Whiting Pete Corp. COM 966387102 17284 412800 SH SOLE 410800 0 2000 Willbros Group Inc COM 969199108 41188 2174680 SH SOLE 1989875 0 184805 Winston Hotels Inc COM 97563a102 7901 645000 SH SOLE 645000 0 World Air Holdings Inc COM 98142v104 231 26900 SH SOLE 26900 0 Wright Express COM 98233q105 44440 1546290 SH SOLE 1396075 0 150215 Ace Ltd. ORD G0070K103 379 7500 SH SOLE 7500 0 Foster Wheeler Ltd SHS NEW G36535139 29916 692490 SH SOLE 646590 0 45900 Ingersoll Rand CL A G4776G101 8464 197850 SH SOLE 121550 0 76300 Orient Express Hotels Ltd CL A g67743107 29942 770895 SH SOLE 694495 0 76400 WP Stewart & Co. Ltd. COM g84922106 4616 303316 SH SOLE 302616 0 700 Transocean Inc ORD g90078109 643 8000 SH SOLE 8000 0 Weatherford Intl COM g95089101 645 13000 SH SOLE 13000 0