The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 MANAGER SOLE SHARED NONE
AIR METHODS COM 009128307 848 27,370 SH   SOLE   27,370 0 0
ALLEGION, PLC COM G0176J109 446 6,552 SH   SOLE   6,552 0 0
AMERCO COM 023586100 13,869 43,612 SH   SOLE   43,612 0 0
AMERIGAS PTRS. COM 030975106 760 16,900 SH   SOLE   16,900 0 0
ASTRONICS COM 046433108 834 18,736 SH   SOLE   18,736 0 0
BLACKHAWK COM 09238E104 1,384 46,910 SH   SOLE   46,910 0 0
CHASE CORP. COM 16150R104 12,973 192,188 SH   SOLE   192,188 0 0
CIRCOR INT'L COM 17273K109 632 10,712 SH   SOLE   10,712 0 0
CONOCOPHILLIPS COM 20825C104 4,017 93,411 SH   SOLE   93,411 0 0
COOPER TIRE COM 216831107 634 16,900 SH   SOLE   16,900 0 0
CORE MOLDINGS COM 218683100 1,642 99,500 SH   SOLE   99,500 0 0
CRANE CO. COM 224399105 1,797 28,750 SH   SOLE   28,750 0 0
DELTA APPAREL COM 247368103 11,025 700,013 SH   SOLE   700,013 0 0
DENNY'S CORP. COM 24869P104 949 92,600 SH   SOLE   92,600 0 0
DREW INDUSTRIES COM 26168L205 4,659 47,787 SH   SOLE   47,787 0 0
DUCOMMUN INC COM 264147109 758 33,668 SH   SOLE   33,668 0 0
EASTMAN CHEM COM 277432100 2,921 43,600 SH   SOLE   43,600 0 0
EATON CORP COM G29183103 292 4,500 SH   SOLE   4,500 0 0
FERRO CORP. COM 315405100 2,983 220,977 SH   SOLE   220,977 0 0
GOODYEAR TIRE COM 382550101 13,142 417,192 SH   SOLE   417,192 0 0
HANESBRANDS COM 410345102 2,161 88,221 SH   SOLE   88,221 0 0
HARRIS CORP. COM 413875105 3,129 34,390 SH   SOLE   34,390 0 0
HERTZ RENT CAR COM 42806J106 958 24,560 SH   SOLE   24,560 0 0
HESS CORP. COM 42809H107 658 12,412 SH   SOLE   12,412 0 0
HORIZON GLOBAL COM 44052W104 245 12,580 SH   SOLE   12,580 0 0
HUNTSMAN CORP. COM 447011107 5,177 323,568 SH   SOLE   323,568 0 0
INGERSOLL RAND COM G47791101 1,416 21,130 SH   SOLE   21,130 0 0
INNODATA COM 457642205 198 98,925 SH   SOLE   98,925 0 0
KRATON PERFORM COM 50077C106 2,265 65,642 SH   SOLE   65,642 0 0
MARATHON OIL COM 565849106 349 22,500 SH   SOLE   22,500 0 0
MARATHON PET. COM 56585A102 1,202 30,048 SH   SOLE   30,048 0 0
MONRO MUFFLER COM 610236101 287 5,036 SH   SOLE   5,036 0 0
NEFF CORP COM 640094207 4,323 494,039 SH   SOLE   494,039 0 0
NORTHERN TECH COM 665809109 682 56,840 SH   SOLE   56,840 0 0
OCCIDENTAL PETE COM 674599105 1,588 22,058 SH   SOLE   22,058 0 0
OIL STATES INTL COM 678026105 1,067 34,433 SH   SOLE   34,433 0 0
ORCHIDS PAPER COM 68572N104 242 8,971 SH   SOLE   8,971 0 0
OSHKOSH CORP COM 688239201 253 4,600 SH   SOLE   4,600 0 0
OWENS ILL INC COM 690768403 367 20,400 SH   SOLE   20,400 0 0
PERMA-FIX ENV. COM 714157203 192 42,621 SH   SOLE   42,621 0 0
PHI INC. NV COM 69336T205 199 11,083 SH   SOLE   11,083 0 0
PHILLIPS 66 COM 718546104 3,339 41,736 SH   SOLE   41,736 0 0
PITNEY BOWES COM 724479100 2,181 122,884 SH   SOLE   122,884 0 0
POPEYES KITCHEN COM 732872106 420 8,000 SH   SOLE   8,000 0 0
Q.E.P. CO.,INC COM 74727K102 3,674 229,644 SH   SOLE   229,644 0 0
READING INT'L COM 755408101 843 64,842 SH   SOLE   64,842 0 0
SENSIENT TECH COM 81725T100 517 6,900 SH   SOLE   6,900 0 0
SPARTAN MOTORS COM 846819100 321 34,696 SH   SOLE   34,696 0 0
STANDEX INTL CP COM 854231107 11,591 125,989 SH   SOLE   125,989 0 0
STEPAN CHEMICAL COM 858586100 786 10,913 SH   SOLE   10,913 0 0
SUPERVALU COM 868536103 3,812 802,628 SH   SOLE   802,628 0 0
SUPREME IND COM 868607102 10,903 581,482 SH   SOLE   581,482 0 0
TOTAL SA COM 89151E109 851 18,110 SH   SOLE   18,110 0 0
TRIMAS CORP. COM 896215209 314 17,450 SH   SOLE   17,450 0 0
UNIVERSAL FOREST COM 913543104 291 2,969 SH   SOLE   2,969 0 0
VAALCO ENERGY COM 91851C201 988 1,162,591 SH   SOLE   1,162,591 0 0
VSE CORP. COM 918284100 416 12,428 SH   SOLE   12,428 0 0
WATTS WATER COM 942749102 2,676 41,817 SH   SOLE   41,817 0 0
XERIUM TECH COM 98416J118 1,493 193,861 SH   SOLE   193,861 0 0
PITNEY BOWES COM 724481866 964 945 SH   SOLE   945 0 0
LIFE STORAGE COM 53223X107 343 3,900 SH   SOLE   3,900 0 0
MANITEX INT'L COM 563420108 86 17,300 SH   SOLE   17,300 0 0
RYDEX INVEST. COM 23129X105 232 3,100 SH   SOLE   3,100 0 0
UNIVERSAL SEC COM 913821302 103 31,561 SH   SOLE   31,561 0 0
ZUNICOM INC COM COM 98981X104 36 355,953 SH   SOLE   355,953 0 0