0001140361-12-007519.txt : 20120214
0001140361-12-007519.hdr.sgml : 20120214
20120213175836
ACCESSION NUMBER: 0001140361-12-007519
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20111231
FILED AS OF DATE: 20120214
DATE AS OF CHANGE: 20120213
EFFECTIVENESS DATE: 20120214
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: KEELEY ASSET MANAGEMENT CORP
CENTRAL INDEX KEY: 0001056504
IRS NUMBER: 363160361
STATE OF INCORPORATION: IL
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-06810
FILM NUMBER: 12600855
BUSINESS ADDRESS:
STREET 1: 401 SOUTH LASALLE STREET
STREET 2: STE 1201
CITY: CHICAGO
STATE: IL
ZIP: 60605
BUSINESS PHONE: 3127865000
MAIL ADDRESS:
STREET 1: KELLEY ASSET MANAGEMENT CORP
STREET 2: 401 S LASALLE ST STE 1201
CITY: CHICAGO
STATE: IL
ZIP: 60605
13F-HR
1
form13fhr.txt
NONE
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 12/31/2011
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
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 submission.
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 2/14/2012
--------------------------------- --------------------------------- ----------
[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: 401
Form 13F Information Table Value Total: $ 4,778,922
--------------
(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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
ADTRAN, Inc. COM 00738a106 497 16470.000SH SOLE 16470 0 0
AECOM Technology COM 00766t100 18376 893335.000SH SOLE 893335 0 0
AMC Networks Inc. COM 00164v103 14671 390400.000SH SOLE 367700 0 22700
AMCOL International Corp COM 02341W103 19367 721320.000SH SOLE 721320 0 0
AON Corp. COM 037389103 1949 41640.000SH SOLE 41640 0 0
ATLAS ENERGY LP COM UNITS LP COM 04930a104 413 17000.000SH SOLE 17000 0 0
Aaron's Inc. COM 002535300 3098 116135.000SH SOLE 114335 0 1800
Accuride Corp. COM 00439t206 1541 216446.000SH SOLE 216446 0 0
Ace Ltd. COM H0023r105 848 12095.000SH SOLE 12095 0 0
Acuity Brands Inc COM 00508y102 47990 905469.000SH SOLE 847999 0 57470
Advance Auto Parts COM 00751y106 1970 28290.000SH SOLE 28290 0 0
Agilent Technologies COM 00846u101 307 8780.000 SH SOLE 8780 0 0
Alexander & Baldwin Inc COM 014482103 3470 85000.000SH SOLE 85000 0 0
Allete Inc COM 018522300 35970 856836.000SH SOLE 800896 0 55940
Alpha Natural Resource COM 02076x102 2057 100687.000SH SOLE 98887 0 1800
Amerco COM 023586100 36094 408300.000SH SOLE 406200 0 2100
American Campus Communities COM 024835100 616 14680.000SH SOLE 14680 0 0
American Water Works COM 030420103 3977 124815.000SH SOLE 121675 0 3140
Ameriprise Financial COM 03076c106 3343 67350.000SH SOLE 62350 0 5000
AmerisourceBergen COM 03073e105 36393 978570.000SH SOLE 953470 0 25100
Ampco Pittsburgh COM 032037103 11546 597000.000SH SOLE 597000 0 0
Amphenol Corp. COM 032095101 3767 83000.000SH SOLE 83000 0 0
Aptargroup COM 038336103 2970 56936.000SH SOLE 56936 0 0
Aqua America Inc COM 03836w103 500 22690.000SH SOLE 22690 0 0
Arbitron, Inc. COM 03875q108 23085 670890.000SH SOLE 635990 0 34900
Arlington Asset Investment Cp COM 041356205 210 9840.000 SH SOLE 9840 0 0
Arthur J. Gallagher & Co. COM 363576109 17506 523505.000SH SOLE 480895 0 42610
Ashland Inc. COM 044209104 33946 593882.000SH SOLE 588282 0 5600
Avis Budget Group COM 053774105 29635 2764434.000SH SOLE 2588034 0 176400
Azz Incorporated COM 002474104 21130 465000.000SH SOLE 465000 0 0
B & G FOODS INC NEW CL A COM 05508R106 656 27270.000SH SOLE 27270 0 0
BARCLAYS BANK PLC ETN DJUB COM 06739h271 847 15000.000SH SOLE 15000 0 0
BARCLAYS BK PLC IPATH S&P ST COM 06740c261 711 20000.000SH SOLE 20000 0 0
E
BOARDWALK PIPELIN PTNR UT LTD COM 096627104 260 9396.108 SH SOLE 9396.108 0 0
BOK Financial Corp COM 05561q201 2053 37370.000SH SOLE 37370 0 0
BSB BANCORP INC MD COM COM 05573h108 105 10000.000SH SOLE 10000 0 0
BUILDERS FIRSTSOURCE I COM COM 12008r107 82 40000.000SH SOLE 40000 0 0
Babcock & Wilcox Co. COM 05615F102 43412 1798359.000SH SOLE 1703889 0 94470
BancorpSouth, Inc. COM 059692103 427 38750.000SH SOLE 38750 0 0
Bank of America COM 060505104 789 141855.408SH SOLE 141855.408 0 0
Bank of Nova Scotia Halifax COM 064149107 288 5780.000 SH SOLE 5780 0 0
Barclays Bk Plc IPath Index COM 06738c778 536 12700.000SH SOLE 12700 0 0
Baytex Energy Tr Unit COM 07317q105 383 6844.000 SH SOLE 6844 0 0
Beacon Federal Bancorp, Inc COM 073582108 236 17000.000SH SOLE 17000 0 0
Beam Inc. COM 073730103 1829 35700.000SH SOLE 35700 0 0
Belo Corporation COM 080555105 14663 2327410.000SH SOLE 2318110 0 9300
Bemis Company Inc COM 081437105 392 13040.000SH SOLE 13040 0 0
Beneficial Mut Bancorp COM 08173r104 5795 693170.000SH SOLE 617750 0 75420
Berry Petroleum Co. COM 085789105 22521 535950.000SH SOLE 535950 0 0
Boston Private Financial COM 101119105 11867 1494612.000SH SOLE 1494612 0 0
Hldgs
Briggs & Straton COM 109043109 1750 113000.000SH SOLE 113000 0 0
Brinks Co COM 109696104 25994 967025.000SH SOLE 924355 0 42670
Bristow Group Inc. COM 110394103 663 13990.000SH SOLE 13990 0 0
Broadridge Fincl Sol COM 11133t103 54784 2429451.000SH SOLE 2309751 0 119700
Brookline Bancorp Inc COM 11373m107 3967 470000.000SH SOLE 470000 0 0
C I T Group COM 125581801 7656 219570.000SH SOLE 196170 0 23400
CBOE Holdings, Inc. COM 12503M108 32522 1257634.000SH SOLE 1195864 0 61770
CHEMTURA CORP COM COM 163893100 449 20000.000SH SOLE 20000 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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
CME Group, Inc. COM 12572q105 811 3329.000 SH SOLE 3329 0 0
Calpine Corporation COM 131347304 1310 80205.000SH SOLE 77005 0 3200
Canadian Pacific COM 13645t100 1303 19260.000SH SOLE 19260 0 0
Cantel Medical Corp COM 138098108 482 17270.000SH SOLE 17270 0 0
Capitol Federal Financial COM 14057j101 27013 2340787.000SH SOLE 2152397 0 188390
Cardinal Health Inc. COM 14149Y108 3450 84965.000SH SOLE 84965 0 0
CareFusion Corp. COM 14170T101 3631 142910.000SH SOLE 140610 0 2300
Carrizo Oil & Gas Inc COM 144577103 29902 1134784.000SH SOLE 1105404 0 29380
Chemed Corporation COM 16359r103 419 8190.000 SH SOLE 8190 0 0
Chemtura Corporation COM 163893209 29486 2600168.000SH SOLE 2411738 0 188430
Chicago Bridge & Iron COM 167250109 61474 1626307.133SH SOLE 1540207.133 0 86100
Circor Intl Inc COM 17273k109 28834 816586.248SH SOLE 791136.248 0 25450
Clearwater Paper Corp. COM 18538r103 19030 534400.000SH SOLE 534400 0 0
Cleco Corp. COM 12561w105 9003 236300.000SH SOLE 217300 0 19000
Cloud Peak Energy, Inc. COM 18911q102 14587 755000.000SH SOLE 755000 0 0
Colfax Corporation COM 194014106 51868 1821191.000SH SOLE 1802191 0 19000
Columbia Banking System, Inc. COM 197236102 237 12320.000SH SOLE 12320 0 0
Comerica COM 200340107 202 7830.000 SH SOLE 7830 0 0
Communications Systems, Inc. COM 203900105 469 33360.000SH SOLE 33360 0 0
Companhia de Bebidas (AmBev) COM 20441w203 301 8336.000 SH SOLE 8336 0 0
Compass Minerals COM 20451n101 7693 111735.000SH SOLE 99825 0 11910
Concho Resources Inc COM 20605p101 1697 18100.000SH SOLE 18100 0 0
Conocophillips COM 20825c104 1239 17000.000SH SOLE 17000 0 0
Consol Energy Inc. COM 20854P109 1767 48160.000SH SOLE 46640 0 1520
Contango Oil and Gas Co. COM 21075n204 28718 493600.000SH SOLE 493600 0 0
Continental Resources COM 212015101 27593 413620.000SH SOLE 412320 0 1300
Covidien Ltd. COM g2554f113 2829 62850.000SH SOLE 62850 0 0
Dana Holding Corp. COM 235825205 7205 592999.000SH SOLE 527189 0 65810
Darling International, Inc COM 237266101 17248 1297800.000SH SOLE 1225300 0 72500
Dean Foods Co. COM 242370104 151 13500.000SH SOLE 13500 0 0
Deltic Timber Corp COM 247850100 50155 830525.835SH SOLE 790350.835 0 40175
Deluxe Corp. COM 248019101 394 17300.000SH SOLE 17300 0 0
Denny's Corporation COM 24869p104 31345 8336414.000SH SOLE 8218164 0 118250
Dentsply International, Inc COM 249030107 1125 32150.000SH SOLE 32150 0 0
Destination Maternity Corp COM 25065D100 386 23100.000SH SOLE 23100 0 0
DineEquity Inc. COM 254423106 35460 840096.000SH SOLE 817396 0 22700
Direx Dly Energy Bear 3X COM 25459w342 328 29000.000SH SOLE 29000 0 0
Direxion Daily Small Cap Bear COM 25459w110 318 12000.000SH SOLE 12000 0 0
Direxion Financial Bull 3x COM 25459y694 324 5000.000 SH SOLE 5000 0 0
Discover Financial Svc COM 254709108 4775 198965.000SH SOLE 198965 0 0
Dollar General Corp COM 256677105 2887 70175.000SH SOLE 67975 0 2200
Dollar Tree Stores Inc COM 256746108 5216 62760.000SH SOLE 62760 0 0
Donegal Group Inc COM 257701201 142 10000.000SH SOLE 10000 0 0
Donnelly RR & Sons. COM 257867101 1522 105470.000SH SOLE 100370 0 5100
Dover Corp. COM 260003108 1161 20000.000SH SOLE 20000 0 0
Dresser Rand Group Inc COM 261608103 32031 641781.000SH SOLE 621901 0 19880
Dril Quip Inc. COM 262037104 30738 467000.000SH SOLE 447100 0 19900
DuPont E.I. DeNemours COM 263534109 280 6120.000 SH SOLE 6120 0 0
Duff & Phelps COM 26433b107 153 10535.000SH SOLE 10535 0 0
Dynex Capital, Inc. COM 26817q506 377 41320.000SH SOLE 41320 0 0
ENBRIDGE ENERGY PRTNRS COM COM 29250r106 538 16200.000SH SOLE 16200 0 0
ENERGY TRANSFER PRTNRS UNIT COM 29273r109 504 11000.000SH SOLE 11000 0 0
LT
EOG Resources Inc COM 26875p101 1822 18500.000SH SOLE 18500 0 0
ESSA BANCORP INC COM COM 29667d104 105 10000.000SH SOLE 10000 0 0
ETF TR AGRIBUS ETF COM 57060u605 490 10397.925SH SOLE 10397.925 0 0
EXTERRAN PARTNERS LP COM COM 30225n105 419 20800.000SH SOLE 20800 0 0
UNITS
Eastern Insurance Inc. COM 276534104 875 62620.000SH SOLE 62620 0 0
Eaton Corp COM 278058102 1114 25600.000SH SOLE 25600 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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
Einstein Noah Restaurant COM 28257u104 515 32530.000SH SOLE 32530 0 0
Group
El Paso Electric Co. COM 283677854 652 18820.000SH SOLE 18820 0 0
El Paso Pipeline Partners, LP COM 283702108 783 22610.000SH SOLE 22610 0 0
Energy Transfer Equity LP COM 29273v100 713 17560.000SH SOLE 17560 0 0
Enpro Industries Inc. COM 29355x107 39111 1185907.000SH SOLE 1116987 0 68920
Enterprise Products Partners COM 293792107 1006 21700.000SH SOLE 21700 0 0
Epoch Hldg Corp COM 29428r103 54553 2454021.576SH SOLE 2413021.576 0 41000
Equity Lifestyles Properties COM 29472R108 498 7460.000 SH SOLE 7460 0 0
Evercore Partners Inc. - CLA COM 29977a105 12485 469000.000SH SOLE 469000 0 0
Everest RE Group COM G3223R108 210 2500.000 SH SOLE 2500 0 0
Exco Resources Inc. COM 269279402 5800 555050.000SH SOLE 454450 0 100600
Exelis Inc. COM 30162a108 92 10150.000SH SOLE 10150 0 0
Exxon Corp COM 30231G102 432 5100.000 SH SOLE 5100 0 0
Ezcorp Inc COM 302301106 3033 115000.000SH SOLE 115000 0 0
FMC Corp. COM 302491303 4750 55210.000SH SOLE 55210 0 0
FMC Technologies COM 30249u101 2411 46155.000SH SOLE 46155 0 0
Federal Signal Corp. COM 313855108 8539 2057644.000SH SOLE 2005614 0 52030
Federated Investors, Inc. COM 314211103 18838 1243420.000SH SOLE 1180420 0 63000
Fidelity National Info COM 31620m106 4267 160482.000SH SOLE 160482 0 0
Fidelity Natl Finl Inc COM 31620r105 997 62557.000SH SOLE 57157 0 5400
Financial Select Sector SPDR COM 81369Y605 702 54000.000SH SOLE 54000 0 0
F
First American Financial COM 31847R102 32677 2579116.000SH SOLE 2428776 0 150340
First Niagara Financial COM 33582v108 28418 3292972.000SH SOLE 3114392 0 178580
FirstMerit Corp. COM 337915102 10350 684104.000SH SOLE 623229 0 60875
Flotek Industries Inc. COM 343389102 996 100000.000SH SOLE 100000 0 0
Flowers Foods Inc COM 343498101 46169 2432507.112SH SOLE 2273551.112 0 158956
Flowserve Corp. COM 34354p105 10575 106476.000SH SOLE 95766 0 10710
Foot Locker, Inc. COM 344849104 26563 1114225.000SH SOLE 1110725 0 3500
Forestar Group, Inc. COM 346233109 32329 2136751.000SH SOLE 2023160 0 113591
Fortune Brands Home Security COM 34964c106 12599 739830.000SH SOLE 717430 0 22400
I
Foster L B Co. COM 350060109 38142 1348241.000SH SOLE 1306451 0 41790
Foster Wheeler AG COM H27178104 3200 167166.000SH SOLE 125666 0 41500
Franklin Elec Inc COM 353514102 19106 438619.000SH SOLE 438619 0 0
Franklin Financial Corp. COM 35353c102 710 59960.000SH SOLE 59960 0 0
Fresenius Medical Care AG COM 358029106 1416 20829.000SH SOLE 20829 0 0
Frontier Communications Corp. COM 35906A108 72 13889.972SH SOLE 13889.972 0 0
GAMCO Invs Inc COM 361438104 16700 384000.000SH SOLE 384000 0 0
GP Strategies Corp. COM 36225v104 202 15000.000SH SOLE 15000 0 0
Gardner Denver Inc COM 365558105 20074 260500.000SH SOLE 260500 0 0
Gaylord Entmt Co. COM 367905106 33853 1402355.000SH SOLE 1357155 0 45200
Generac Holdings, Inc. COM 368736104 2341 83500.000SH SOLE 83500 0 0
General Cable Corp. COM 369300108 13555 542000.000SH SOLE 542000 0 0
Genesee & Wyoming COM 371559105 53276 879440.000SH SOLE 850940 0 28500
Glacier Bancorp Inc COM 37637q105 535 44450.000SH SOLE 44450 0 0
Government Properties Income COM 38376a103 519 23000.000SH SOLE 23000 0 0
T
Greenbrier Cos Inc COM 393657101 36946 1521650.000SH SOLE 1521650 0 0
Greenhill & Co Inc. COM 395259104 12730 350000.000SH SOLE 350000 0 0
Gulfport Energy Corp. COM 402635304 41546 1410747.000SH SOLE 1327637 0 83110
HCC Insurance Holdings COM 404132102 32891 1196030.000SH SOLE 1191030 0 5000
Halliburton Co COM 406216101 773 22385.000SH SOLE 22385 0 0
Hanesbrands Inc COM 410345102 31339 1433613.000SH SOLE 1352743 0 80870
Hanger Orthopedic Group COM 41043f208 29071 1555418.000SH SOLE 1486318 0 69100
Hanover Ins Group Inc COM 410867105 36573 1046430.000SH SOLE 1014880 0 31550
Harry Winston Diamond Corp COM 41587b100 2306 216500.000SH SOLE 216500 0 0
Harsco Corp COM 415864107 365 17740.000SH SOLE 17740 0 0
Haynes Intl Inc. COM 420877201 20409 373800.000SH SOLE 373800 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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
Healthcare Realty Trust COM 421946104 623 33489.734SH SOLE 33489.734 0 0
Henry Jack & Assoc. Inc. COM 426281101 549 16320.000SH SOLE 16320 0 0
Henry Schein Inc. COM 806407102 3682 57150.000SH SOLE 55850 0 1300
Hercules Offshore Inc. COM 427093109 17393 3917366.000SH SOLE 3904766 0 12600
Hill-Rom Holdings Inc COM 431475102 49645 1473591.000SH SOLE 1395981 0 77610
HomeFederal Bancorp COM 43710G105 15135 1455329.000SH SOLE 1427384 0 27945
Hospitality Properties trust COM 44106m102 202 8782.736 SH SOLE 8782.736 0 0
Howard Hughes Corporation COM 44267d107 12611 285517.000SH SOLE 285517 0 0
IBM COM 459200101 931 5065.000 SH SOLE 5065 0 0
IF Bancorp Inc COM 44951j105 198 17643.000SH SOLE 17643 0 0
ISHARES INC MSCI BRAZIL COM 464286400 470 8195.686 SH SOLE 8195.686 0 0
ISHARES TR BARCLYS 1-3YR CR COM 464288646 813 7800.000 SH SOLE 7800 0 0
ISHARES TR DJ US UTILS COM 464287697 384 4352.288 SH SOLE 4352.288 0 0
IShares Barclays TIPS Bond COM 464287176 919 7875.000 SH SOLE 7875 0 0
Fund
IShares Inc MSCI Australia COM 464286103 616 28713.293SH SOLE 28713.293 0 0
ind
IShares Inc MSCI Canada Index COM 464286509 514 19310.251SH SOLE 19310.251 0 0
IShares TR FTSE Xinhua HK COM 464287184 263 7547.378 SH SOLE 7547.378 0 0
China
IShares Tr Russell MidCap COM 464287473 730 16830.000SH SOLE 16830 0 0
Value
ITC Holdings Corp COM 465685105 50322 663178.000SH SOLE 626508 0 36670
ITT Corp. COM 450911201 30544 1580154.000SH SOLE 1482934 0 97220
Iberiabank Corp. COM 450828108 42341 858835.000SH SOLE 832225 0 26610
Iconix Brand Group Inc. COM 451055107 19380 1189707.000SH SOLE 1115687 0 74020
Intercontinental Exchange COM 45865v100 241 2000.000 SH SOLE 2000 0 0
Invesco Ltd. COM G491BT108 5781 287771.000SH SOLE 287771 0 0
Iron Mountain, Inc. COM 462846106 7506 243695.390SH SOLE 213445.39 0 30250
Ishares Tr Russell 2000 Value COM 464287630 5745 87530.000SH SOLE 87530 0 0
JMP Group, Inc. COM 46629u107 143 20000.000SH SOLE 20000 0 0
JP Morgan Chase & Co COM 46625h100 1692 50895.000SH SOLE 50895 0 0
Janus Cap Group Inc COM 47102x105 379 60000.000SH SOLE 60000 0 0
Jarden Corporation COM 471109108 4157 139110.000SH SOLE 137910 0 1200
Jefferies Group Inc. COM 472319102 756 55000.000SH SOLE 55000 0 0
John Bean Tech, Corp. COM 477839104 32031 2084013.000SH SOLE 1974313 0 109700
Joy Global Inc COM 481165108 31841 424715.000SH SOLE 409715 0 15000
KBR Inc. COM 48242w106 2792 100165.000SH SOLE 98165 0 2000
KBW Inc COM 482423100 3340 220000.000SH SOLE 220000 0 0
KKR & CO L P DEL COM UNITS COM 48248m102 321 25000.000SH SOLE 25000 0 0
KMG Chemicals Inc. COM 482564101 551 31910.000SH SOLE 31910 0 0
Kaiser Aluminum Corp COM 483007704 38496 839065.000SH SOLE 795615 0 43450
Kaman Corp COM 483548103 20259 741560.000SH SOLE 741560 0 0
Kansas City Southern COM 485170302 67761 996334.000SH SOLE 945154 0 51180
Kaydon Corp. COM 486587108 20283 665000.000SH SOLE 665000 0 0
Kinder Morgan Energy Partners COM 494550106 451 5310.000 SH SOLE 5310 0 0
Kodiak Oil & Gas Corp COM 50015q100 817 86000.000SH SOLE 86000 0 0
Koppers Holdings Inc. COM 50060p106 32215 937564.000SH SOLE 917374 0 20190
Kraft Foods Inc COM 50075N104 2105 56350.000SH SOLE 56350 0 0
Layne Christensen Company COM 521050104 22252 919500.000SH SOLE 919500 0 0
Lazard Ltd. COM g54050102 1872 71695.000SH SOLE 71695 0 0
Legg Mason, Inc. COM 524901105 22241 924800.000SH SOLE 920300 0 4500
Lennar Corp Cl A COM 526057104 7529 383171.000SH SOLE 383171 0 0
Leucadia National COM 527288104 2720 119613.000SH SOLE 116813 0 2800
Littlefuse Inc. COM 537008104 18976 441500.000SH SOLE 441500 0 0
Lufkin Inds. Inc COM 549764108 20224 300460.000SH SOLE 300460 0 0
Markwest Energy Partners LP UNIT LTD PARTN 570759100 650 11800.000SH SOLE 11800 0 0
MEDQUIST HLDGS INC COM COM 58506k102 119 12400.000SH SOLE 12400 0 0
MGM Resorts Int'l COM 552953101 5211 499610.000SH SOLE 495810 0 3800
MTS Systems Corp. COM 553777103 270 6620.000 SH SOLE 6620 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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
Macquarie Infrastructure COM 55608b105 22095 790510.000SH SOLE 743510 0 47000
Madison Square Garden COM 55826p100 29479 1029300.000SH SOLE 1018300 0 11000
Magellan Midstream Partners COM 559080106 592 8600.000 SH SOLE 8600 0 0
LP
Magnum Hunter Res COM 55973b102 14604 2709500.000SH SOLE 2709500 0 0
Manitowoc Company Inc. COM 563571108 2849 310000.000SH SOLE 310000 0 0
Manning & Napier COM 56382Q102 20578 1647590.000SH SOLE 1520020 0 127570
Marathon Oil Corp COM 565849106 1252 42760.000SH SOLE 42760 0 0
Marcus Corp. COM 566330106 30387 2409767.000SH SOLE 2320267 0 89500
Marketaxess Hldgs Inc COM 57060d108 28168 935500.000SH SOLE 935500 0 0
Marriott Vacations COM 57164y107 5500 320500.000SH SOLE 320500 0 0
Materion Corp Com COM 576690101 14422 594000.000SH SOLE 594000 0 0
McDermott Int'l COM 580037109 28978 2517614.000SH SOLE 2395434 0 122180
McGraw Hill Co COM 580645109 2526 56180.000SH SOLE 56180 0 0
Mead Johnson Nutrition Co. COM 582839106 1237 18000.000SH SOLE 18000 0 0
Meadowbrook Insurance Group COM 58319p108 672 62890.000SH SOLE 62890 0 0
Medical Properties Trust, COM 58463j304 475 48084.349SH SOLE 48084.349 0 0
Inc.
Medtronic Inc. COM 585055106 1233 32230.000SH SOLE 32230 0 0
Meridian Bioscience Inc COM 589584101 398 21140.000SH SOLE 21140 0 0
Midas Inc. COM 595626102 4398 512000.000SH SOLE 512000 0 0
Monotype Imaging Holdings, COM 61022P100 13810 885847.000SH SOLE 885847 0 0
Inc.
Morgan Stanley COM 617446448 878 58000.000SH SOLE 58000 0 0
Mueller Water COM 624758108 40 16304.000SH SOLE 16304 0 0
NATURAL RESOURCE PRTNR COM COM 63900p103 554 20450.000SH SOLE 20450 0 0
UNI
NCR Corp COM 62886e108 30287 1840011.000SH SOLE 1780791 0 59220
NUSTAR GP HOLDINGS LLC UNIT COM 67059l102 555 16680.000SH SOLE 16680 0 0
RE
National Fuel & Gas Co COM 636180101 4619 83100.000SH SOLE 83100 0 0
National Presto Industries, COM 637215104 11153 119155.000SH SOLE 119155 0 0
In
Natural Gas Services Grp Inc. COM 63886q109 16542 1144000.000SH SOLE 1144000 0 0
Neenah Paper COM 640079109 451 20200.000SH SOLE 20200 0 0
Nordic American Tanker COM g65773106 292 24320.000SH SOLE 24320 0 0
Northern Trust Corp. COM 665859104 1306 32925.000SH SOLE 32925 0 0
Northwest Bancshares COM 667340103 20492 1647283.000SH SOLE 1553813 0 93470
Northwestern Corporation COM 668074305 5953 166340.000SH SOLE 146240 0 20100
NuStar Energy, L.P. COM 67058h102 678 11960.000SH SOLE 11960 0 0
OBA Financial Services Inc COM 67424g101 287 19984.000SH SOLE 19984 0 0
OGE Energy Corp. COM 670837103 2544 44860.000SH SOLE 44860 0 0
ONEOK PARTNERS LP UNIT LTD COM 68268n103 918 15900.000SH SOLE 15900 0 0
PAR
OXIGENE INC COM COM 691828305 28 28000.000SH SOLE 28000 0 0
Oasis Petroleum Inc COM 674215108 39598 1361207.000SH SOLE 1288257 0 72950
OceanFirst Financial Corp COM 675234108 229 17500.000SH SOLE 17500 0 0
Orient Express Hotels COM g67743107 13498 1806930.000SH SOLE 1721080 0 85850
Oriental Financial Group Inc. COM 68618w100 272 22500.000SH SOLE 22500 0 0
Oritani Financial Corp. COM 68633d103 25398 1988850.000SH SOLE 1912850 0 76000
Owens & Minor Inc. COM 690732102 282 10145.000SH SOLE 10145 0 0
PHH Corp. COM 693320202 4908 458659.000SH SOLE 408279 0 50380
PIMCO MUNICIPAL INC FD COM COM 72200r107 146 10237.000SH SOLE 10237 0 0
POWERSHARES ETF TR II BUILD COM 73937b407 2316 80707.000SH SOLE 80707 0 0
AM
POWERSHARES GLB ETF FD S&P COM 73936g308 345 17597.081SH SOLE 17597.081 0 0
500
PROSHARES TR PSHS SHTRUSS2000 COM 74347r826 208 7000.000 SH SOLE 7000 0 0
PROSHARES TR ULTRASHT SP500 COM 74347r883 1929 100000.000SH SOLE 100000 0 0
Partnerre Ltd COM g6852t105 15238 237320.000SH SOLE 237320 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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
Patterson Companies COM 703395103 33621 1138920.000SH SOLE 1094200 0 44720
Peabody Energy Corp COM 704549104 328 9905.000 SH SOLE 9905 0 0
Penske Automotive COM 70959w103 36941 1918998.000SH SOLE 1799068 0 119930
Perrigo Company COM 714290103 38549 396190.000SH SOLE 389690 0 6500
Petroquest Energy, Inc. COM 716748108 627 95000.000SH SOLE 95000 0 0
Petsmart, Inc. COM 716768106 44912 875640.000SH SOLE 857440 0 18200
Pfizer Inc. COM 717081103 2376 109815.000SH SOLE 109815 0 0
Pioneer Natural Resources COM 723787107 313 3501.000 SH SOLE 1 0 3500
Plains All American Pipeline COM 726503105 1380 18785.000SH SOLE 18785 0 0
L
Plains Expl & Prod Co COM 726505100 4913 133805.000SH SOLE 129005 0 4800
Portland General Electric Co. COM 736508847 2105 83250.000SH SOLE 83250 0 0
Powershares DB Agriculture COM 73936b408 578 20000.000SH SOLE 20000 0 0
Powershares QQQ Trust COM 73935a104 7014 125639.000SH SOLE 125639 0 0
PriceSmart, Inc. COM 741511109 521 7490.000 SH SOLE 7490 0 0
Proshares Ultrashort QQQ COM 74347x237 370 8200.000 SH SOLE 8200 0 0
Protective Life Corp. COM 743674103 771 34190.000SH SOLE 34190 0 0
Providence & Worcester RR COM 743737108 3011 264126.000SH SOLE 262226 0 1900
Provident Financial COM 74386t105 18378 1372500.000SH SOLE 1372500 0 0
Pulte Group Inc. COM 745867101 19791 3136500.000SH SOLE 3136500 0 0
QEP Resources Inc. COM 74733v100 3493 119230.000SH SOLE 119230 0 0
Quanta Services Inc COM 74762E102 3640 168970.000SH SOLE 168970 0 0
Questar Corp COM 748356102 34057 1714830.000SH SOLE 1652930 0 61900
RBC Bearings Inc. COM 75524b104 27422 657600.000SH SOLE 653000 0 4600
RG Barry Corp COM 068798107 517 42790.000SH SOLE 42790 0 0
RPM International Inc. COM 749685103 512 20840.000SH SOLE 20840 0 0
RadioShack Corporation COM 750438103 499 51360.000SH SOLE 51360 0 0
RailAmerica Inc. COM 750753402 20788 1396100.000SH SOLE 1315600 0 80500
Ralcorp Holdings Inc COM 751028101 14183 165880.000SH SOLE 165880 0 0
Range Resources Corp. COM 75281a109 26634 430000.000SH SOLE 430000 0 0
Red Robin Gourmet Burgers COM 75689m101 11470 414070.000SH SOLE 386470 0 27600
Regal Beloit Corp. COM 758750103 23786 466667.000SH SOLE 449297 0 17370
Regis Corp. COM 758932107 7398 447000.000SH SOLE 447000 0 0
Reinsurance Group of America COM 759351604 26642 509890.000SH SOLE 509890 0 0
Resolute Energy Corp. COM 76116A108 12968 1200715.000SH SOLE 1200715 0 0
Rex Energy COM 761565100 413 28000.000SH SOLE 28000 0 0
Richardson Electronics, Ltd. COM 763165107 555 45130.000SH SOLE 45130 0 0
Robbins & Myers Inc COM 770196103 31873 656500.000SH SOLE 656500 0 0
Rock-Tenn Company COM 772739207 22399 388200.000SH SOLE 375200 0 13000
Rockville Financial Inc. COM 774188106 10127 977500.000SH SOLE 885000 0 92500
SPDR SERIES TRUST S&P HOME COM 78464a888 385 22500.000SH SOLE 22500 0 0
BUIL
SPDR Trust Ser 1 Unit COM 78462f103 42272 336827.092SH SOLE 336827.092 0 0
SUNTECH PWR HLDGS CO ADR COM 86800c104 44 20000.000SH SOLE 20000 0 0
SUPERVALU, Inc. COM 868536103 6638 817508.000SH SOLE 728588 0 88920
Sabra Health Care REIT COM 78573l106 565 46730.000SH SOLE 46730 0 0
Safeguard Scientifics Inc. COM 786449207 1563 99000.000SH SOLE 99000 0 0
Saks Holdings Inc COM 79377W108 18052 1851500.000SH SOLE 1851500 0 0
Sally Beauty Holdings COM 79546e104 56472 2672597.000SH SOLE 2523277 0 149320
Sanchez Energy Corp. COM 79970y105 3037 175974.000SH SOLE 175974 0 0
Sandridge Energy, Inc. COM 80007p307 2783 341000.000SH SOLE 341000 0 0
Sara Lee Corp COM 803111103 1795 94860.000SH SOLE 94860 0 0
Shire PLC COM 82481r106 219 2105.000 SH SOLE 2105 0 0
Si Financial Group Inc. COM 78425v104 170 17245.000SH SOLE 17245 0 0
Smith A O Corp COM 831865209 40849 1018175.000SH SOLE 963525 0 54650
Snap On Inc COM 833034101 4928 97345.000SH SOLE 96245 0 1100
Snyder's-Lance, Inc. COM 833551104 4163 185000.000SH SOLE 185000 0 0
Solutia Inc. COM 834376501 8516 492805.000SH SOLE 452025 0 40780
South Jersey Inds Inc. COM 838518108 18637 328055.000SH SOLE 328055 0 0
Sovran Self Storage, Inc. COM 84610H108 597 13990.000SH SOLE 13990 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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
Stag Industrial Inc. COM 85254j102 587 51180.000SH SOLE 51180 0 0
Stage Stores Inc COM 85254c305 218 15710.000SH SOLE 15710 0 0
Standard Parking Corp COM 853790103 1871 104699.000SH SOLE 104699 0 0
Suburban Propane Partners LP COM 864482104 575 12080.000SH SOLE 12080 0 0
Summit Hotel Properties, Inc. COM 866082100 708 74970.000SH SOLE 74970 0 0
Sun Hydraulics Corporation COM 866942105 19833 846500.000SH SOLE 846500 0 0
Superior Industrials COM 868168105 519 31390.000SH SOLE 31390 0 0
International
TEEKAY OFFSHORE PTN LP COM y8565j101 580 21810.000SH SOLE 21810 0 0
PARTNER
TRIANGLE PETE CORP COM NEW COM 89600b201 418 70000.000SH SOLE 70000 0 0
Teekay LNG Partners LP COM Y8564M105 521 15700.000SH SOLE 15700 0 0
Teledyne COM 879360105 28949 527780.000SH SOLE 527780 0 0
Tennant Co COM 880345103 31379 807270.000SH SOLE 800270 0 7000
Teradata Corp. COM 88076W103 6162 127030.000SH SOLE 127030 0 0
Terex Corp. COM 880779103 19556 1447500.000SH SOLE 1380500 0 67000
Territorial Bancorp, Inc. COM 88145x108 12404 628035.000SH SOLE 628035 0 0
Textainer Group Hldgs LTD COM g8766e109 441 15140.000SH SOLE 15140 0 0
Thomas & Betts Corp. COM 884315102 12681 232250.000SH SOLE 209000 0 23250
Timken Co. COM 887389104 11648 300896.624SH SOLE 249346.624 0 51550
Titan Intl. Inc. COM 88830m102 28574 1468360.000SH SOLE 1468360 0 0
Toll Brothers, Inc. COM 889478103 4370 214000.000SH SOLE 214000 0 0
Tootsie Roll Inds COM 890516107 11513 486388.000SH SOLE 486388 0 0
Total System Services, Inc COM 891906109 502 25680.000SH SOLE 25680 0 0
Travelers Inc. COM 89417e109 219 3700.000 SH SOLE 3700 0 0
Treehouse Foods Inc COM 89469a104 53905 824490.000SH SOLE 797490 0 27000
Trinity Indus Inc. COM 896522109 45545 1515127.000SH SOLE 1456617 0 58510
Twin Disc, Inc. COM 901476101 15092 415528.000SH SOLE 389528 0 26000
Tyco Intl Inc. COM h89128104 2345 50210.000SH SOLE 50210 0 0
U.S. Physical Therapy, Inc COM 90337l108 2081 105740.000SH SOLE 105740 0 0
Union Pacific Corp COM 907818108 2617 24705.000SH SOLE 24705 0 0
Unit Corp COM 909218109 1568 33790.000SH SOLE 33790 0 0
United Technlogies COM 913017109 249 3400.000 SH SOLE 3400 0 0
Universal Stainless COM 913837100 19184 513500.000SH SOLE 513500 0 0
Vail Resorts Inc. COM 91879q109 50278 1186922.000SH SOLE 1132212 0 54710
Valmont Inds. Inc. COM 920253101 22924 252500.000SH SOLE 252500 0 0
Vanguard Bond In COM 921937827 667 8250.000 SH SOLE 8250 0 0
Vectren Corp COM 92240G101 26898 889780.000SH SOLE 844910 0 44870
Viewpoint Finl Group COM 92672a101 30206 2321784.000SH SOLE 2180894 0 140890
Virtus Investment Partners COM 92828Q109 380 5000.000 SH SOLE 5000 0 0
Visa Inc. COM 92826c839 463 4565.000 SH SOLE 4565 0 0
Visteon Corp COM 92839u206 4774 95595.000SH SOLE 92195 0 3400
W.R. Berkley Corp. COM 084423102 31572 918065.000SH SOLE 918065 0 0
W.R. Grace COM 38388F108 42171 918360.000SH SOLE 884160 0 34200
WILLIAMS PARTNERS L P COM COM 96950f104 830 13830.000SH SOLE 13830 0 0
UNIT
WPX Energy, Inc. COM 98212b103 273 15000.000SH SOLE 15000 0 0
Wabco Holdings Inc COM 92927k102 858 19760.000SH SOLE 15460 0 4300
Wabtec Corp. COM 929740108 66327 948200.000SH SOLE 900730 0 47470
Waddell & Reed Fin COM 930059100 26240 1059353.000SH SOLE 1037773 0 21580
Walter Energy, Inc. COM 93317Q105 33668 555951.932SH SOLE 527441.932 0 28510
Walter Investment Management COM 93317w102 37942 1849918.575SH SOLE 1807517.575 0 42401
Warner Chilcott, Ltd. COM g94368100 161 10660.000SH SOLE 10660 0 0
Watts Water Technologies Cl A COM 942749102 23725 693500.000SH SOLE 693500 0 0
Westar Energy Inc COM 95709t100 10080 350240.000SH SOLE 300290 0 49950
Westfield Financial Inc. COM 96008p104 18554 2520877.000SH SOLE 2469847 0 51030
Westwood Hldg Group COM 961765104 2594 70980.000SH SOLE 70980 0 0
Williams Cos. COM 969457100 2617 79270.000SH SOLE 79270 0 0
Wintrust Financial Corp COM 97650W108 33576 1197000.000SH SOLE 1151000 0 46000
Wisconsin Energy Corp. COM 976657106 5009 143270.000SH SOLE 143270 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
----------------------------- -------------- --------- -------- ------------- --- ---- ---------- -------- ----------- ------ ------
World Fuel Services Corp. COM 981475106 1176 28020.000SH SOLE 28020 0 0
Wright Express COM 98233q105 68817 1267820.000SH SOLE 1193590 0 74230
Wright Medical Group, Inc. COM 98235T107 12650 766663.000SH SOLE 717663 0 49000
Wyndham Worldwide COM 98310w108 68036 1798472.000SH SOLE 1710972 0 87500
Xylem Inc. COM 98419m100 1296 50440.000SH SOLE 50440 0 0
Zep Inc. COM 98944b108 24381 1743995.000SH SOLE 1714995 0 29000
Vanguard Bond Index FD Inc. TOTAL BND MRKT 921937835 22288 2026198.046SH SOLE 2026198.046 0 0