13F-HR/A 1 form13fhra.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 9/30/2010 Check here if Amendment [X]; Amendment Number: 1 ------- 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 Form 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. Persons 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: /s/ John L. Keeley, Jr. Chicago, IL 11/19/2010 --------------------------------- --------------------------------- ---------- [Signature] [City, State] [Date] 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 reported 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 reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 343 Form 13F Information Table Value Total: $ 5,718,350 -------------- (In Thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ -------------- --------- -------- -------------------- ---------- -------- ------------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- -------- ----------- ------ ------ Aaron's Inc. COM 2535300 328 17815.000 SH SOLE 17815 0 0 Ace Ltd. COM H0023r105 1457 25020.000 SH SOLE 25020 0 0 Acuity Brands Inc COM 00508y102 69676 1574950.000 SH SOLE 1515720 0 59230 ADTRAN, Inc. COM 00738a106 366 10380.000 SH SOLE 10380 0 0 Advance Auto Parts, Inc. COM 00751y106 1986 33840.000 SH SOLE 33840 0 0 AECOM Technology COM 00766t100 37189 1532915.000 SH SOLE 1532915 0 0 Agilent Technologies COM 00846u101 272 8140.000 SH SOLE 8140 0 0 Allete Inc COM 18522300 13516 371025.000 SH SOLE 342395 0 28630 Alpha Natural Resource COM 02076x102 21460 521503.000 SH SOLE 521503 0 0 AMCOL International Corp COM 02341W103 39950 1525400.000 SH SOLE 1525400 0 0 Amerco COM 23586100 48678 612460.000 SH SOLE 607160 0 5300 American Campus Communities COM 24835100 270 8880.000 SH SOLE 8880 0 0 American Water Works Co., Inc. COM 30420103 4010 172340.680 SH SOLE 170900.68 0 1440 Ameriprise Financial COM 03076c106 4663 98520.250 SH SOLE 91420.25 0 7100 AmerisourceBergen Corp COM 03073e105 53743 1752880.460 SH SOLE 1717880.46 0 35000 Ameritrade Hldg Corp COM 87236y108 1583 98000.000 SH SOLE 98000 0 0 Ametek COM 31100100 630 13190.090 SH SOLE 13190.09 0 0 Ampco Pittsburgh COM 32037103 24448 985000.000 SH SOLE 985000 0 0 Aptargroup COM 38336103 3688 80760.260 SH SOLE 79960.26 0 800 Aqua America Inc COM 03836w103 247 12090.000 SH SOLE 12090 0 0 Arbitron, Inc. COM 03875q108 341 12200.000 SH SOLE 12200 0 0 ARCADIA RES INC COM COM 39209101 12 30000.000 SH SOLE 30000 0 0 Arch Chemicals Inc. COM 03937r102 41130 1172120.000 SH SOLE 1152560 0 19560 Arlington Asset Investment Cp COM 41356205 220 9440.000 SH SOLE 9440 0 0 Arthur J. Gallagher & Co. COM 363576109 20432 774820.000 SH SOLE 698870 0 75950 Artio Global Investors, Inc. COM 04315b107 12498 816877.000 SH SOLE 783937 0 32940 Ashland Inc. COM 44209104 45168 926142.000 SH SOLE 920542 0 5600 Azz Incorporated COM 2474104 35793 835500.000 SH SOLE 835500 0 0 B & G FOODS INC NEW CL A COM 05508R106 236 21570.000 SH SOLE 21570 0 0 Babcock & Wilcox Co. COM 05615F102 30441 1430516.000 SH SOLE 1366286 0 64230 Balchem Corporation COM 57665200 270 8750.000 SH SOLE 8750 0 0 BancorpSouth, Inc. COM 59692103 300 21180.000 SH SOLE 21180 0 0 Bank of America COM 60505104 2054 156800.216 SH SOLE 156800.216 0 0 Bank of America WTS COM 60505146 726 112000.000 SH SOLE 112000 0 0 Bank of Nova Scotia Halifax COM 64149107 487 9130.000 SH SOLE 9130 0 0 BankFinancial Corp COM 06643p104 5361 584585.693 SH SOLE 558645.693 0 25940 Barclays Bk Plc IPath Index COM 06738c778 537 12700.000 SH SOLE 12700 0 0 Baytex Energy Tr Unit COM 73176109 211 5800.000 SH SOLE 5800 0 0 Beacon Federal Bancorp, Inc. COM 73582108 206 20000.000 SH SOLE 20000 0 0 Belo Corporation COM 80555105 1754 282920.000 SH SOLE 276920 0 6000 Bemis Company Inc COM 81437105 22335 703480.000 SH SOLE 680980 0 22500 Beneficial Mut Bancorp Inc. COM 08173r104 14073 1568910.000 SH SOLE 1508690 0 60220 Berry Petroleum Co. COM 85789105 19127 602810.000 SH SOLE 602810 0 0 BOARDWALK PIPELIN PTNR UT LTD COM 96627104 273 8360.179 SH SOLE 8360.179 0 0 BOISE INC COM COM 09746y105 65 10000.000 SH SOLE 10000 0 0 BOK Financial Corp COM 05561q201 1080 23930.170 SH SOLE 23930.17 0 0 Brinks Co COM 109696104 7890 343025.000 SH SOLE 330025 0 13000 Broadridge Fincl Sol COM 11133t103 61475 2688025.000 SH SOLE 2593175 0 94850 Brookline Bancorp Inc COM 11373m107 10429 1045000.000 SH SOLE 1045000 0 0 Brush Engineered Matl COM 117421107 33488 1177500.000 SH SOLE 1177500 0 0 Bucyrus International COM 118759109 75969 1095438.000 SH SOLE 1062738 0 32700 C I T Group COM 125581801 7212 176680.000 SH SOLE 166980 0 9700 Calpine Corporation COM 131347304 1899 152550.000 SH SOLE 152550 0 0 Canadian Pacific COM 13645t100 535 8775.000 SH SOLE 8775 0 0 Cantel Medical Corp COM 138098108 244 15090.000 SH SOLE 15090 0 0 Carbo Ceramics, Inc. COM 140781105 321 3960.000 SH SOLE 3960 0 0 Cardinal Health Inc. COM 14149Y108 3164 95770.000 SH SOLE 95770 0 0 CareFusion Corp. COM 14170T101 3232 130100.000 SH SOLE 130100 0 0 Carrizo Oil & Gas Inc COM 144577103 27711 1157500.000 SH SOLE 1157500 0 0 Chicago Bridge & Iron COM 167250109 65308 2671075.133 SH SOLE 2562075.133 0 109000
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ -------------- --------- -------- -------------------- ---------- -------- ------------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- -------- ----------- ------ ------ Circor Intl Inc COM 17273k109 44341 1403182.248 SH SOLE 1362772.248 0 40410 Clearwater Paper Corp. COM 18538r103 33341 438230.000 SH SOLE 438230 0 0 Cleco Corp. COM 12561w105 2096 70750.000 SH SOLE 70750 0 0 CME Group, Inc. COM 12572q105 3020 11597.030 SH SOLE 11597.03 0 0 Colfax Corporation COM 194014106 42794 2877900.000 SH SOLE 2850900 0 27000 Comerica COM 200340107 223 6000.000 SH SOLE 6000 0 0 Communications Systems, Inc. COM 203900105 162 14230.000 SH SOLE 14230 0 0 Compass Minerals Intl. Inc. COM 20451n101 11226 146510.000 SH SOLE 138410 0 8100 Comstock Resources COM 205768203 8889 395245.000 SH SOLE 370655 0 24590 Conseco Inc COM 12621E103 2504 452000.980 SH SOLE 452000.98 0 0 Consol Energy Inc. COM 20854P109 3147 85140.170 SH SOLE 84020.17 0 1120 Contango Oil and Gas Co. COM 21075n204 33086 659600.000 SH SOLE 659600 0 0 Continental Resources Inc. COM 212015101 29573 637900.000 SH SOLE 637900 0 0 CoreLogic, Inc. COM 21871d103 56271 2936903.000 SH SOLE 2817873 0 119030 Covanta Holding Corp. COM 22282e102 20417 1296320.000 SH SOLE 1284820 0 11500 Covidien Ltd. COM g2554f105 3019 75110.000 SH SOLE 75110 0 0 Danvers Bancorp Inc. COM 236442109 8905 580880.000 SH SOLE 580880 0 0 Deltic Timber Corp COM 247850100 40975 914630.835 SH SOLE 876985.835 0 37645 Denny's Corporation COM 24869p104 27790 8935730.000 SH SOLE 8759680 0 176050 Dentsply International, Inc. COM 249030107 1188 37170.000 SH SOLE 37170 0 0 Dillard Inc. COM 254067101 5741 242860.000 SH SOLE 234860 0 8000 DineEquity Inc. COM 254423106 56019 1245420.000 SH SOLE 1221680 0 23740 Direxion Daily Small Cap Bear COM 25459w326 779 30000.000 SH SOLE 30000 0 0 DIREXION SHS ETF TR DLY SMCAP COM 25459w847 3294 70000.000 SH SOLE 70000 0 0 Discover Financial Svc COM 254709108 3449 206760.000 SH SOLE 206760 0 0 Dollar Tree Stores Inc COM 256746108 2920 59885.000 SH SOLE 59885 0 0 Donnelly RR & Sons. Co. COM 257867101 29297 1727420.000 SH SOLE 1711420 0 16000 DORATO RES INC CDA COM COM 258128107 9 12500.000 SH SOLE 12500 0 0 DR Horton Inc COM 23331A109 24984 2246770.000 SH SOLE 2246770 0 0 Dr Pepper Snapple Group COM 26138e109 34567 973170.000 SH SOLE 952570 0 20600 Dresser Rand Group Inc COM 261608103 35563 964025.000 SH SOLE 964025 0 0 Dril Quip Inc. COM 262037104 29974 482600.000 SH SOLE 454000 0 28600 Duff & Phelps COM 26433b107 705 52360.000 SH SOLE 48860 0 3500 DuPont E.I. DeNemours COM 263534109 241 5400.000 SH SOLE 5400 0 0 Dynex Capital, Inc. COM 26817q506 206 19150.000 SH SOLE 19150 0 0 Eastern Insurance Inc. COM 276534104 465 44800.000 SH SOLE 44800 0 0 Emeritus Corp COM 291005106 2126 124628.000 SH SOLE 124628 0 0 Emerson Electric Co. COM 291011104 231 4385.000 SH SOLE 4385 0 0 EnCana Corp. COM 292505104 1807 59770.000 SH SOLE 59770 0 0 Enpro Industries Inc. COM 29355x107 52596 1681459.000 SH SOLE 1619509 0 61950 Enterprise Products Partners COM 293792107 325 8200.000 SH SOLE 8200 0 0 Epoch Hldg Corp COM 29428r103 34532 2681070.000 SH SOLE 2554770 0 126300 Equity Lifestyles Properties, COM 29472R108 228 4180.000 SH SOLE 4180 0 0 Evercore Partners Inc. - CL A COM 29977a105 12660 442500.000 SH SOLE 442500 0 0 Everest RE Group COM G3223R108 216 2500.000 SH SOLE 2500 0 0 Exco Resources Inc. COM 269279402 55497 3732162.000 SH SOLE 3632182 0 99980 Express Scripts Inc. COM 302182100 315 6460.000 SH SOLE 6460 0 0 Exterran Holdings, Inc. COM 30225x103 30658 1349990.000 SH SOLE 1317100 0 32890 Exxon Corp COM 30231G102 297 4800.000 SH SOLE 4800 0 0 EYI Inds Inc COM 26928r104 0 10000.000 SH SOLE 10000 0 0 Federal Signal Corp. COM 313855108 22247 4127520.000 SH SOLE 4080490 0 47030 Fidelity National Info COM 31620m106 6275 231304.290 SH SOLE 227452.29 0 3852 Fidelity Natl Finl Inc COM 31620r105 1335 84948.000 SH SOLE 81948 0 3000 Financial Select Sector SPDR F COM 81369Y605 861 60000.000 SH SOLE 60000 0 0 First American Financial COM 31847R102 38431 2572360.000 SH SOLE 2465840 0 106520 First Niagara Financial COM 33582v108 39317 3374812.000 SH SOLE 3234662 0 140150 FirstMerit Corp. COM 337915102 17406 950132.000 SH SOLE 872810 0 77322 Flowers Foods Inc COM 343498101 55712 2242845.742 SH SOLE 2137513.742 0 105332 Flowserve Corp. COM 34354p105 54194 495286.000 SH SOLE 482686 0 12600 FMC Corp. COM 302491303 6787 99210.000 SH SOLE 99210 0 0
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ -------------- --------- -------- -------------------- ---------- -------- ------------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- -------- ----------- ------ ------ FMC Technologies COM 30249u101 8029 117570.000 SH SOLE 115570 0 2000 Foot Locker, Inc. COM 344849104 1787 123010.000 SH SOLE 120510 0 2500 Forestar Group, Inc. COM 346233109 41535 2436072.000 SH SOLE 2340231 0 95841 Foster L B Co. COM 350060109 43827 1514425.000 SH SOLE 1458435 0 55990 Foster Wheeler AG COM H27178104 48072 1965316.000 SH SOLE 1902976 0 62340 Frederick County Bancorp, Inc. COM 355685108 182 15000.000 SH SOLE 15000 0 0 GAMCO Invs Inc COM 361438104 14372 373000.000 SH SOLE 373000 0 0 Gardner Denver Inc COM 365558105 39401 734000.000 SH SOLE 730000 0 4000 Gaylord Entmt Co. COM 367905106 57242 1876780.000 SH SOLE 1847130 0 29650 General Cable Corp. COM 369300108 22713 837500.000 SH SOLE 837500 0 0 General Mills COM 370334104 204 5570.000 SH SOLE 5570 0 0 Genesee & Wyoming COM 371559105 69093 1592365.000 SH SOLE 1539465 0 52900 Genworth Financial COM 37247d106 3400 278220.000 SH SOLE 278220 0 0 Glacier Bancorp Inc COM 37637q105 1968 134940.000 SH SOLE 134940 0 0 GP Strategies Corp. COM 36225v104 1507 165809.000 SH SOLE 165809 0 0 Greenbrier Cos Inc COM 393657101 35775 2294750.000 SH SOLE 2294750 0 0 Greenhill & Co Inc. COM 395259104 27124 341960.000 SH SOLE 341960 0 0 GS FINL CORP COM COM 362274102 124 12000.000 SH SOLE 12000 0 0 Gymboree Corp. COM 403777105 210 5055.000 SH SOLE 5055 0 0 Halliburton Co COM 406216101 1036 31340.000 SH SOLE 31340 0 0 Hanesbrands Inc COM 410345102 32971 1274990.000 SH SOLE 1205750 0 69240 Hanover Ins Group Inc COM 410867105 59505 1266060.000 SH SOLE 1242890 0 23170 Harsco Corp COM 415864107 523 21295.000 SH SOLE 21295 0 0 Hawkins, Inc. COM 420261109 224 6330.000 SH SOLE 6330 0 0 Haynes Intl Inc. COM 420877201 25841 740000.000 SH SOLE 740000 0 0 HCC Insurance Holdings COM 404132102 43780 1678030.000 SH SOLE 1647830 0 30200 Henry Schein Inc. COM 806407102 5077 86670.000 SH SOLE 85370 0 1300 Hill-Rom Holdings Inc COM 431475102 75000 2089714.000 SH SOLE 2016034 0 73680 HomeFederal Bancorp COM 43710G105 17577 1444285.000 SH SOLE 1410940 0 33345 Honeywell COM 438516106 281 6400.000 SH SOLE 0 0 6400 Iberiabank Corp. COM 450828108 49049 981370.000 SH SOLE 953560 0 27810 IBM COM 459200101 428 3190.231 SH SOLE 3190.231 0 0 Idex Corp COM 45167r104 923 26000.000 SH SOLE 26000 0 0 Ingersoll Rand COM G47791101 2189 61300.000 SH SOLE 55300 0 6000 Integrys Energy Group Inc COM 45822P105 3478 66800.000 SH SOLE 66800 0 0 Invesco Ltd. COM G491BT108 32490 1530361.210 SH SOLE 1530361.21 0 0 IShares Barclays TIPS Bond Fun COM 464287176 229 2100.000 SH SOLE 2100 0 0 IShares Inc MSCI Australia Ind COM 464286103 332 13975.000 SH SOLE 13975 0 0 ISHARES INC MSCI BRAZIL COM 464286400 388 5036.717 SH SOLE 5036.717 0 0 IShares Inc MSCI Canada Index COM 464286509 500 17847.675 SH SOLE 17847.675 0 0 ISHARES TR BARCLYS 1-3YR CR COM 464288646 252 2400.000 SH SOLE 2400 0 0 IShares TR FTSE Xinhua HK Chin COM 464287184 315 7357.002 SH SOLE 7357.002 0 0 Ishares Tr Russell 2000 Value COM 464287630 1482 23900.000 SH SOLE 18100 0 5800 Itau Unibanco Banco Multiplo S COM 465562106 302 12500.000 SH SOLE 12500 0 0 ITC Holdings Corp COM 465685105 75305 1209720.280 SH SOLE 1165410.28 0 44310 ITT Corp. COM 450911102 4686 100070.000 SH SOLE 95070 0 5000 Janus Cap Group Inc COM 47102x105 394 35990.000 SH SOLE 32890 0 3100 Jarden Corporation COM 471109108 1043 33500.000 SH SOLE 33500 0 0 Jefferies Group Inc. COM 472319102 16019 705990.000 SH SOLE 669090 0 36900 John Bean Tech, Corp. COM 477839104 26021 1615228.000 SH SOLE 1520916 0 94312 Joy Global Inc COM 481165108 76935 1094066.415 SH SOLE 1051019.415 0 43047 JP Morgan Chase & Co COM 46625h100 510 13410.000 SH SOLE 13410 0 0 JP Morgan Chase Warrants exp 1 COM 46634e114 1053 90200.000 SH SOLE 90200 0 0 Kaiser Aluminum Corp New COM 483007704 54189 1266400.000 SH SOLE 1232060 0 34340 Kaman Corp COM 483548103 28702 1095060.000 SH SOLE 1095060 0 0 Kansas City Southern COM 485170302 72523 1938593.000 SH SOLE 1861693 0 76900 Kaydon Corp. COM 486587108 35898 1037500.000 SH SOLE 1037500 0 0 KBR Inc. COM 48242w106 1755 71240.000 SH SOLE 69240 0 2000 Kinder Morgan Energy Partners COM 494550106 317 4630.000 SH SOLE 4630 0 0 Koppers Holdings Inc. COM 50060p106 41052 1527810.000 SH SOLE 1517860 0 9950
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ -------------- --------- -------- -------------------- ---------- -------- ------------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- -------- ----------- ------ ------ Ladish Co Inc COM 505754200 16888 542500.000 SH SOLE 542500 0 0 Layne Christensen Company COM 521050104 34757 1342500.000 SH SOLE 1342500 0 0 Lazard Ltd. COM g54050102 4262 121490.280 SH SOLE 121490.28 0 0 Legg Mason, Inc. COM 524901105 35437 1169140.000 SH SOLE 1160540 0 8600 Lender Processing Services COM 52602e102 5046 151853.310 SH SOLE 148530.31 0 3323 Leucadia National COM 527288104 4232 179180.000 SH SOLE 152780 0 26400 Lufkin Inds. Inc COM 549764108 38774 883240.000 SH SOLE 883240 0 0 Mac-Gray Corp COM 554153106 5242 432138.000 SH SOLE 432138 0 0 Madison Square Garden Inc COM 55826p100 20733 983050.000 SH SOLE 952250 0 30800 Magnetek Inc. COM 559424106 59 44700.000 SH SOLE 44700 0 0 Maidenform Brands Inc COM 560305104 34115 1182500.000 SH SOLE 1182500 0 0 Manitowoc Company Inc. COM 563571108 3560 294000.000 SH SOLE 294000 0 0 Marcus Corp. COM 566330106 26219 2212550.000 SH SOLE 2212550 0 0 Marketaxess Hldgs Inc COM 57060d108 26217 1544000.000 SH SOLE 1544000 0 0 MARKWEST ENERGY PARTNR UNIT LT 570759100 214 5950.000 SH SOLE 5950 0 0 Martin Marietta Matererials In COM 573284106 3099 40267.210 SH SOLE 37067.21 0 3200 MB Financial Inc COM 55264u108 26321 1622730.000 SH SOLE 1555770 0 66960 McDermott International COM 580037109 41822 2829654.000 SH SOLE 2715394 0 114260 Meadowbrook Insurance Group COM 58319p108 3379 376690.000 SH SOLE 376690 0 0 Medical Properties Trust, Inc. COM 58463j304 392 38690.000 SH SOLE 38690 0 0 Meridian Bioscience Inc COM 589584101 201 9200.000 SH SOLE 9200 0 0 MGIC Invst Corp. COM 552848103 1511 163690.000 SH SOLE 159790 0 3900 MGM Resorts International COM 552953101 6110 541710.000 SH SOLE 541710 0 0 Microsoft Corp COM 594918104 245 10000.000 SH SOLE 10000 0 0 Midas Inc. COM 595626102 11776 1547500.000 SH SOLE 1547500 0 0 MSC Industrial Direct Co. Inc. COM 553530106 231 4280.000 SH SOLE 4280 0 0 MTS Systems Corp. COM 553777103 219 7060.000 SH SOLE 7060 0 0 National Fuel & Gas Co COM 636180101 5311 102500.000 SH SOLE 102500 0 0 National Presto Industries, In COM 637215104 1373 12900.000 SH SOLE 12900 0 0 Natural Gas Services Grp Inc. COM 63886q109 21712 1470000.000 SH SOLE 1470000 0 0 NCR Corp COM 6.29E+112 21215 1556500.000 SH SOLE 1556500 0 0 Neenah Paper COM 640079109 15712 1033695.000 SH SOLE 1033695 0 0 Newell Rubbermaid COM 651229106 279 15670.000 SH SOLE 15670 0 0 Nordic American Tanker COM g65773106 269 10060.000 SH SOLE 10060 0 0 Northwest Bancshares, Inc. COM 667340103 11421 1021550.000 SH SOLE 961840 0 59710 Northwestern Corporation COM 668074305 323 11340.000 SH SOLE 11340 0 0 NuStar Energy, L.P. COM 67058h102 290 4700.000 SH SOLE 4700 0 0 Oasis Petroleum Inc COM 674215108 4304 222200.000 SH SOLE 201700 0 20500 OBA Financial Services Inc. COM 67424g101 220 19984.000 SH SOLE 19984 0 0 OGE Energy Corp. COM 670837103 1551 38890.000 SH SOLE 38890 0 0 ONEOK PARTNERS LP UNIT LTD PAR COM 68268n103 277 3700.000 SH SOLE 3700 0 0 Orchids Paper Products Company COM 68572n104 2126 147000.000 SH SOLE 147000 0 0 Orient Express Hotels COM g67743107 26029 2334420.000 SH SOLE 2274870 0 59550 Oriental Financial Group Inc. COM 68618w100 133 10000.000 SH SOLE 10000 0 0 Oritani Financial Corp. COM 68633d103 5170 518040.000 SH SOLE 467040 0 51000 Partnerre Ltd COM g6852t105 18665 232790.200 SH SOLE 232790.2 0 0 Patterson Companies Inc. COM 703395103 37631 1313470.000 SH SOLE 1258370 0 55100 Peabody Energy Corp COM 704549104 522 10650.000 SH SOLE 10650 0 0 Penn Millers Holding Corp. COM 707561106 179 12100.000 SH SOLE 12100 0 0 Perrigo Company COM 714290103 44084 686460.070 SH SOLE 671460.07 0 15000 Petrohawk Energy COM 716495106 42937 2660300.000 SH SOLE 2552250 0 108050 Petsmart, Inc. COM 716768106 38542 1101190.000 SH SOLE 1083090 0 18100 PHH Corp. COM 693320202 32651 1550400.000 SH SOLE 1550400 0 0 PIMCO MUNICIPAL INC FD COM COM 72200R107 145 10237.000 SH SOLE 10237 0 0 Pioneer Natural Resources COM 723787107 945 14535.000 SH SOLE 9835 0 4700 Piper Jaffray Inc COM 724078100 5171 177500.000 SH SOLE 177500 0 0 Plains All American Pipeline L COM 726503105 613 9750.000 SH SOLE 9750 0 0 Plains Expl & Prod Co COM 726505100 4400 164995.000 SH SOLE 147195 0 17800 Popular Inc COM 733174106 131 45000.000 SH SOLE 45000 0 0 Portland General Electric Co. COM 736508847 1739 85750.000 SH SOLE 85750 0 0
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ -------------- --------- -------- -------------------- ---------- -------- ------------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- -------- ----------- ------ ------ Powershares DB Agriculture COM 73936b408 550 20000.000 SH SOLE 20000 0 0 POWERSHARES ETF TR II BUILD AM COM 73937b407 1501 56000.000 SH SOLE 56000 0 0 POWERSHARES GLB ETF FD S&P 500 COM 73936g308 339 16027.981 SH SOLE 16027.981 0 0 PriceSmart, Inc. COM 741511109 237 8130.000 SH SOLE 8130 0 0 PROSHARES TR ULTRASHORT QQQ COM 74347r875 220 15000.000 SH SOLE 15000 0 0 PROSHARES TR ULTRASHT SP500 COM 74347r883 2959 100000.000 SH SOLE 100000 0 0 Proshares Ultrashort QQQ COM 74347r875 603 41100.000 SH SOLE 41100 0 0 Protective Life Corp. COM 743674103 453 20840.000 SH SOLE 20840 0 0 Providence & Worcester RR COM 743737108 4468 361775.000 SH SOLE 336883 0 24892 Provident Financial COM 74386t105 17057 1380000.000 SH SOLE 1380000 0 0 Pulte Group Inc. COM 745867101 27130 3097034.000 SH SOLE 2908734 0 188300 Pzena Investment Management COM 74731q103 5448 793000.000 SH SOLE 793000 0 0 QEP Resources Inc. COM 74733v100 2076 68890.030 SH SOLE 68890.03 0 0 Quanex Corp. COM 747619104 32424 1877500.000 SH SOLE 1877500 0 0 Quanta Services Inc COM 74762E102 33940 1778800.000 SH SOLE 1778800 0 0 Questar Corp COM 748356102 26229 1496240.000 SH SOLE 1442240 0 54000 RailAmerica Inc. COM 750753402 10790 1120500.000 SH SOLE 992400 0 128100 Ralcorp Holdings Inc COM 751028101 50885 870132.000 SH SOLE 839212 0 30920 Range Resources Corp. COM 75281a109 35616 934080.070 SH SOLE 931080.07 0 3000 RBC Bearings Inc. COM 75524b104 40813 1201100.000 SH SOLE 1192500 0 8600 Regal Beloit Corp. COM 758750103 35181 599440.000 SH SOLE 596540 0 2900 Reinsurance Group of America COM 759351604 34179 707780.000 SH SOLE 707780 0 0 Resolute Energy Corp. COM 76116A108 973 88000.000 SH SOLE 88000 0 0 RG Barry Corp COM 68798107 235 22790.000 SH SOLE 22790 0 0 Robbins & Myers Inc COM 770196103 38429 1435000.000 SH SOLE 1435000 0 0 Rock-Tenn Company COM 772739207 235 4710.000 SH SOLE 4710 0 0 Rydex ETF Tr COM 78355w106 319 7534.409 SH SOLE 7534.409 0 0 Safeguard Scientifics Inc. COM 786449207 1002 80000.000 SH SOLE 80000 0 0 Sally Beauty Holdings Inc COM 79546e104 54921 4903618.000 SH SOLE 4752238 0 151380 Scotts Co COM 810186106 298 5770.000 SH SOLE 5770 0 0 Seadrill Ltd COM g7945e105 580 20000.000 SH SOLE 20000 0 0 Shaw Group Inc COM 820280105 39949 1190390.000 SH SOLE 1190390 0 0 SILVER WHEATON CORP COM COM 828336107 1866 70000.000 SH SOLE 70000 0 0 Smucker JM Co. COM 832696405 210 3465.000 SH SOLE 3465 0 0 Snap On Inc COM 833034101 4431 95265.000 SH SOLE 94165 0 1100 Solutia Inc. COM 834376501 6503 405900.000 SH SOLE 365510 0 40390 South Jersey Inds Inc. COM 838518108 22578 456395.000 SH SOLE 456395 0 0 SPDR Gold Trust COM 78463v107 4785 37410.000 SH SOLE 37410 0 0 SPDR KBW Regional Bank ETF COM 78464a698 23656 1032560.000 SH SOLE 938350 0 94210 SPDR SERIES TRUST S&P HOMEBUIL COM 78464a888 916 58000.000 SH SOLE 58000 0 0 SPDR Trust Ser 1 Unit COM 78462f103 32168 281853.798 SH SOLE 281853.798 0 0 Stage Stores Inc COM 85254c305 147 11340.000 SH SOLE 11340 0 0 Standard Parking Corp COM 853790103 11303 661000.000 SH SOLE 661000 0 0 Stifel Financial Corp. COM 860630102 1953 42200.000 SH SOLE 42200 0 0 Sun Hydraulics Corporation COM 866942105 26710 947500.000 SH SOLE 947500 0 0 Suntrust Banks Inc COM 867914103 1388 53720.070 SH SOLE 48320.07 0 5400 SWS Group Inc. COM 78503n107 7955 1109510.000 SH SOLE 1109510 0 0 Teledyne COM 879360105 31581 793100.000 SH SOLE 793100 0 0 Temple-Inland, Inc. COM 879868107 4562 244500.000 SH SOLE 231500 0 13000 Tennant Co COM 880345103 47533 1538300.000 SH SOLE 1501790 0 36510 Teradata Corp. COM 88076W103 7997 207380.000 SH SOLE 207380 0 0 Terex Corp. COM 880779103 32026 1397300.000 SH SOLE 1367200 0 30100 Territorial Bancorp, Inc. COM 88145x108 3093 183775.000 SH SOLE 183775 0 0 Texas Industries COM 882491103 46792 1484527.000 SH SOLE 1446807 0 37720 Textainer Group Hldgs LTD COM g8766e109 363 13590.000 SH SOLE 13590 0 0 Thomas & Betts Corp. COM 884315102 10638 259330.000 SH SOLE 213380 0 45950 Timken Co. COM 887389104 25902 675229.624 SH SOLE 636394.624 0 38835 Titan Intl. Inc. COM 88830m102 30941 2280100.000 SH SOLE 2280100 0 0 Toll Brothers, Inc. COM 889478103 39742 2089460.000 SH SOLE 2031950 0 57510 Tootsie Roll Inds COM 890516107 30107 1210100.000 SH SOLE 1210100 0 0
FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ -------------- --------- -------- -------------------- ---------- -------- ------------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- -------- ----------- ------ ------ Total System Services, Inc. COM 891906109 158 10380.000 SH SOLE 10380 0 0 Travelers Inc. COM 89417e109 219 4200.000 SH SOLE 4200 0 0 Treehouse Foods Inc COM 89469a104 59101 1282017.000 SH SOLE 1253497 0 28520 Trinity Biotech ADR COM 896438306 101 16000.000 SH SOLE 16000 0 0 Trinity Indus Inc. COM 896522109 46120 2070930.000 SH SOLE 2030620 0 40310 Tyco Intl Inc. COM h89128104 2456 66877.000 SH SOLE 66877 0 0 Union Pacific Corp COM 907818108 3072 37556.000 SH SOLE 37556 0 0 Unit Corp COM 909218109 1044 28000.000 SH SOLE 28000 0 0 United Technlogies COM 913017109 224 3150.000 SH SOLE 3150 0 0 Unitrin Inc COM 913275103 1538 63050.000 SH SOLE 58850 0 4200 Universal Stainless COM 913837100 17990 732500.000 SH SOLE 732500 0 0 Vail Resorts Inc. COM 91879q109 59187 1577473.000 SH SOLE 1549783 0 27690 Valmont Inds. Inc. COM 920253101 28960 400000.000 SH SOLE 400000 0 0 Vectren Corp COM 92240G101 29188 1128265.000 SH SOLE 1101395 0 26870 Venoco, Inc. COM 92275p307 11052 563000.000 SH SOLE 563000 0 0 Viewpoint Finl Group COM 92672a101 2009 217187.000 SH SOLE 190187 0 27000 Visa Inc. COM 92826c839 319 4300.000 SH SOLE 4300 0 0 Vitrotech Corp COM 92851m108 0 30000.000 SH SOLE 30000 0 0 W.R. Berkley Corp. COM 84423102 26696 986170.000 SH SOLE 986170 0 0 W.R. Grace COM 38388F108 46285 1656600.000 SH SOLE 1611800 0 44800 Wabco Holdings Inc COM 92927k102 2279 54350.000 SH SOLE 49850 0 4500 Wabtec Corp. COM 929740108 80368 1681687.000 SH SOLE 1636367 0 45320 Waddell & Reed Fin Cl A COM 930059100 38413 1404000.000 SH SOLE 1404000 0 0 Walter Energy, Inc. COM 93317Q105 80399 989037.012 SH SOLE 962127.012 0 26910 Walter Investment Management COM 93317w102 34100 1949667.295 SH SOLE 1902475.295 0 47192 Waterstone Financial, Inc COM 941888109 70 17500.000 SH SOLE 17500 0 0 Watts Water Technologies Cl A COM 942749102 39992 1174500.000 SH SOLE 1172500 0 2000 Wausau Paper Corp. COM 943315101 7236 872900.000 SH SOLE 872900 0 0 WAYSIDE TECH GROUP INC COM COM 946760105 123 12300.000 SH SOLE 12300 0 0 Westar Energy Inc COM 95709t100 51944 2143787.122 SH SOLE 2038722.122 0 105065 Westfield Financial Inc. COM 96008p104 21015 2694282.000 SH SOLE 2618252 0 76030 Westwood Hldg Group COM 961765104 2436 72000.000 SH SOLE 72000 0 0 Willbros Group Inc COM 969203108 29257 3190558.000 SH SOLE 3074993 0 115565 Williams Cos. COM 969457100 1467 76770.000 SH SOLE 76770 0 0 WILLIAMS PARTNERS L P COM UNIT COM 96950f104 280 6600.000 SH SOLE 6600 0 0 Wintrust Financial Corp COM 97650W108 41015 1265500.000 SH SOLE 1234000 0 31500 Wisconsin Energy Corp. COM 976657106 2861 49500.000 SH SOLE 49500 0 0 World Fuel Services Corp. COM 981475106 415 15950.000 SH SOLE 15950 0 0 World Wrestling Entmnt Inc. COM 98156q108 207 14870.000 SH SOLE 14870 0 0 Wright Express COM 98233q105 72780 2038075.000 SH SOLE 1957615 0 80460 Wyndham Worldwide COM 98310w108 66428 2418207.470 SH SOLE 2330517.47 0 87690 Xerox COM 984121103 2484 240000.000 SH SOLE 240000 0 0 Zep Inc. COM 98944b108 27507 1577240.000 SH SOLE 1527240 0 50000