0000897069-11-000268.txt : 20110506 0000897069-11-000268.hdr.sgml : 20110506 20110506142710 ACCESSION NUMBER: 0000897069-11-000268 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110506 DATE AS OF CHANGE: 20110506 EFFECTIVENESS DATE: 20110506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PERRITT CAPITAL MANAGEMENT INC CENTRAL INDEX KEY: 0001279342 IRS NUMBER: 363538658 STATE OF INCORPORATION: IL FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10646 FILM NUMBER: 11818679 BUSINESS ADDRESS: STREET 1: 300 SOUTH WACKER DRIVE STREET 2: SUITE 2880 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126691650 MAIL ADDRESS: STREET 1: 300 SOUTH WACKER DRIVE STREET 2: SUITE 2880 CITY: CHICAGO STATE: IL ZIP: 60606 13F-HR 1 perritt13f03312011.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: March 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: Perritt Capital Management, Inc. Address: 300 South Wacker Drive, Suite 2880 Chicago, Illinois 60606 Form 13F File Number: 028-10646 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: Michael J. Corbett Title: Vice President Phone: (312) 669-1650 Signature, Place, and Date of Signing: /s/ Michael J. Corbett Chicago, Illinois May 6, 2011 ------------------------------------------------------------------------------- Michael J. Corbett 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 byother reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 -------- Form 13F Information Table Entry Total: 295 -------- Form 13F Information Table Value Total: $603,789 -------- (thousands) List of Other Included Managers: NONE
FORM 13F INFORMATION TABLE Name of Reporting Manager: Perritt Capital Management, Inc. Value Shares/ Sh/ Put/ Invstmt Other Voting Authority Name of Issuer Title of Class CUSIP (x1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ------------------------------------- ----------------- --------- --------- --------- -------- ------- -------- -------------------- 1-800 Flowers.Com, Inc. CL A 68243Q106 1,650 500,000 SH SOLE 500,000 3 M Company COM 88579Y101 676 7,235 SH SOLE 7,235 A T & T COM 00206R102 568 18,561 SH SOLE 18,561 A.T. Cross COM 227478104 1,567 147,000 SH SOLE 147,000 Abbott Laboratories COM 002824100 549 11,200 SH SOLE 11,200 AC Moore Arts & Crafts Inc COM 00086T103 822 300,018 SH SOLE 300,018 Aceto Corporation COM 004446100 5,258 659,725 SH SOLE 659,725 Acorn Energy Inc COM 004848107 476 132,500 SH SOLE 132,500 Adcare Health Systems Inc. COM 00650W300 1,195 241,500 SH SOLE 241,500 Addus Homecare Corporation COM 006739106 1,110 221,500 SH SOLE 221,500 ADDvantage Technologies Group COM 006743306 938 303,500 SH SOLE 303,500 AdvanSource Biomaterials Corp. COM 00767T109 65 1,061,500 SH SOLE 1,061,500 AEP Industries COM 001031103 3,153 106,100 SH SOLE 106,100 AeroCentury Corp. COM 007737109 603 40,500 SH SOLE 40,500 Alamo Group Inc. COM 011311107 662 24,119 SH SOLE 24,119 Albany Molecular Research COM 012423109 1,704 400,000 SH SOLE 400,000 Allied Healthcare International COM 01923A109 825 325,000 SH SOLE 325,000 Allied Healthcare Products, Inc. COM 019222108 2,060 467,000 SH SOLE 467,000 Allied Motion Technologies, Inc. COM 019330109 1,307 185,429 SH SOLE 185,429 Alvarion Ltd. SHS M0861T100 2,457 1,293,295 SH SOLE 1,293,295 America Service Group COM 02364L109 6,984 272,394 SH SOLE 272,394 American Bio Medica Corp. COM 024600108 69 578,000 SH SOLE 578,000 American Caresource Holdings COM 02505A103 503 299,404 SH SOLE 299,404 American Medical Alert Corp. COM 027904101 348 60,365 SH SOLE 60,365 American Software, Inc. COM 029683109 5,824 789,175 SH SOLE 789,175 American Stad Energy COM 02971T107 1,069 142,500 SH SOLE 142,500 Ameriprise Financial, Inc. COM 03076C106 334 5,470 SH SOLE 5,470 Amgen COM 031162100 452 8,462 SH SOLE 8,462 Amtech Systems, Inc. COM 032332504 4,900 194,120 SH SOLE 194,120 Apache Corp. COM 037411105 462 3,532 SH SOLE 3,532 ARI Network Services Inc. COM 001930205 205 360,000 SH SOLE 360,000 Armanino Foods of Distinction COM 042166801 277 322,000 SH SOLE 322,000 Ascent Media Corporation COM 043632108 5,859 119,945 SH SOLE 119,945 Astro-Med Inc. COM 04638F108 3,082 395,100 SH SOLE 395,100 AXT Inc. COM 00246W103 1,255 175,000 SH SOLE 175,000 B of I Holding Inc. COM 05566U108 5,592 360,293 SH SOLE 360,293 Baker Michael Corporation COM 057149106 3,609 124,155 SH SOLE 124,155 Baldwin Technology Co. Inc. COM 058264102 405 250,000 SH SOLE 250,000 Ballantyne of Omaha Inc. COM 058516105 501 69,900 SH SOLE 69,900 Bank of Commerce Holdings COM 06424J103 598 142,000 SH SOLE 142,000 Barrett Business Services, Inc. COM 068463108 4,563 284,142 SH SOLE 284,142 Bed Bath & Beyond Inc. COM 075896100 478 9,900 SH SOLE 9,900 Bioclinica, Inc. COM 09071B100 1,084 210,000 SH SOLE 210,000 BioScrip Inc. COM 09069N108 4,237 907,300 SH SOLE 907,300 Birner Dental Management Svcs COM 091283200 863 43,500 SH SOLE 43,500 BSquare Corporation COM 11776U300 714 100,000 SH SOLE 100,000 Cal Dive International Inc. COM 12802T101 3,842 550,500 SH SOLE 550,500 CalAmp Corp. COM 128126109 586 174,900 SH SOLE 174,900 Cal-Maine Foods Inc. COM 128030202 2,954 100,150 SH SOLE 100,150 Carriage Services, Inc. COM 143905107 809 146,800 SH SOLE 146,800 Castle A M & Co. COM 148411101 3,198 169,400 SH SOLE 169,400 CE Franklin Ltd. COM 125151100 5,476 555,900 SH SOLE 555,900 Century Casinos, Inc. COM 156492100 3,917 1,314,300 SH SOLE 1,314,300 China 3C Group COM 169362100 324 2,162,500 SH SOLE 2,162,500 China Gerui Advanced Materials SHS G21101103 2,650 563,900 SH SOLE 563,900 China Intelligent Lighting COM NEW 16890G202 624 294,300 SH SOLE 294,300 Cirrus Logic COM 172755100 2,107 100,200 SH SOLE 100,200 Cisco Systems, Inc. COM 17275R102 342 19,945 SH SOLE 19,945 City Telecom Hong Kong SPONSORED ADR 178677209 3,407 225,200 SH SOLE 225,200 Clicksoftware Technologies Ltd. ORD M25082104 5,971 695,160 SH SOLE 695,160 Cogo Group COM 192448108 4,442 550,400 SH SOLE 550,400 Colgate-Palmolive COM 194162103 421 5,210 SH SOLE 5,210 Comfort Systems USA, Inc. COM 199908104 4,706 334,500 SH SOLE 334,500 ConAgra Foods, Inc. COM 205887102 354 14,900 SH SOLE 14,900 Concurrent Computer Corporation COM PAR $.01 206710402 792 125,000 SH SOLE 125,000 Continuecare COM 212172100 936 175,000 SH SOLE 175,000 Core Molding Technologies, Inc. COM 218683100 966 125,000 SH SOLE 125,000 Cornerstone Therapeutics COM 21924P103 2,648 400,000 SH SOLE 400,000 Courier Corporation COM 222660102 2,248 161,023 SH SOLE 161,023 CPI Aerostructures, Inc. COM 125919308 5,493 361,400 SH SOLE 361,400 CPI Corp. COM 125902106 2,251 100,000 SH SOLE 100,000 CR Bard Inc. COM 067383109 318 3,200 SH SOLE 3,200 CSX Corporation COM 126408103 788 10,027 SH SOLE 10,027 CTI Industries Corporation COM 125961300 680 136,500 SH SOLE 136,500 CyberOptics Corporation COM 232517102 3,258 375,744 SH SOLE 375,744 Datalink Corp. COM 237934104 656 102,500 SH SOLE 102,500 Digital Ally, Inc. COM 25382P109 671 516,190 SH SOLE 516,190 Dolan Media Company COM 25659P402 3,228 265,900 SH SOLE 265,900 Dot Hill Systems Inc. COM 25848T109 646 228,200 SH SOLE 228,200 Douglas Dynamics, Inc. COM 25960R105 2,176 152,600 SH SOLE 152,600 Dragonwave, Inc. COM 26144M103 2,915 350,000 SH SOLE 350,000 Ducommun, Inc. COM 264147109 3,346 140,000 SH SOLE 140,000 eBay Inc COM 278642103 529 17,058 SH SOLE 17,058 Emerson Radio Corp. COM 291087203 881 363,897 SH SOLE 363,897 Ensign Group, The COM 29358P101 4,024 126,020 SH SOLE 126,020 Enterprise Products Partners COM 293792107 310 7,200 SH SOLE 7,200 Espey Manufacturing & Electron COM 296650104 936 37,500 SH SOLE 37,500 Evolving Systems, Inc. COM 30049R100 941 130,000 SH SOLE 130,000 Exeter Resource Corporation COM 301835104 2,136 400,000 SH SOLE 400,000 Exponent, Inc. COM 30214U102 2,284 51,200 SH SOLE 51,200 Exxon Mobil Corporation COM 30231G102 938 11,154 SH SOLE 11,154 Far East Energy Corp. COM 307325100 209 449,479 SH SOLE 449,479 Fedex Corporation COM 31428X106 537 5,735 SH SOLE 5,735 Five Star Quality Care Inc. COM 33832D106 6,507 800,400 SH SOLE 800,400 Flamel Technologies S.A. SPONSORED ADR 338488109 361 60,000 SH SOLE 60,000 Flanders Corporation COM 338494107 3,170 975,300 SH SOLE 975,300 Flexible Solutions International COM 33938T104 326 220,000 SH SOLE 220,000 Flexsteel Industries, Inc. COM 339382103 5,142 341,458 SH SOLE 341,458 Fluor Corporation COM 343412102 569 7,725 SH SOLE 7,725 Force Protection Inc. COM 345203202 2,650 540,850 SH SOLE 540,850 Fortune Industries Inc. COM 34963X200 282 366,085 SH SOLE 366,085 Freeseas COM Y26496102 267 60,000 SH SOLE 60,000 Frequency Electronics Inc. COM 358010106 481 46,900 SH SOLE 46,900 Friedman Industries COM 358435105 338 33,200 SH SOLE 33,200 FSI International Inc. COM 302633102 3,530 806,029 SH SOLE 806,029 Full House Resorts Inc. COM 359678109 681 178,666 SH SOLE 178,666 Furmanite Corp. COM 361086101 3,160 395,000 SH SOLE 395,000 Furniture Brands International COM 360921100 2,275 500,000 SH SOLE 500,000 G Willi-Food International ORD M52523103 1,043 133,000 SH SOLE 133,000 Gasco Energy Inc. COM 367220100 583 1,240,000 SH SOLE 1,240,000 GBS Enterprises Inc. COM 36150G106 2,958 600,000 SH SOLE 600,000 General Electric COM 369604103 457 22,789 SH SOLE 22,789 General Mills, Inc. COM 370334104 374 10,245 SH SOLE 10,245 Gilat Satellite Networks Ltd. SHS NEW M51474118 3,587 676,800 SH SOLE 676,800 Global Cash access Holdings, Inc. COM 378967103 2,452 750,000 SH SOLE 750,000 Global Power Equipment Group COM PAR $0.01 37941P306 968 35,188 SH SOLE 35,188 Globecomm Systems Inc. COM 37956X103 5,733 465,000 SH SOLE 465,000 GMX Resources Inc. COM 38011M108 2,591 420,000 SH SOLE 420,000 GP Strategies Corp. COM 36225V104 7,893 580,400 SH SOLE 580,400 Grupo TMM, S.A. SP ADR 5 A SHS 40051D303 1,563 662,238 SH SOLE 662,238 Hallador Energy Company COM 40609P105 3,802 327,750 SH SOLE 327,750 Harmonic, Inc. COM 413160102 3,240 345,415 SH SOLE 345,415 Hastings Entertainment COM 418365102 499 104,745 SH SOLE 104,745 HearUSA Inc. COM 422360305 263 515,292 SH SOLE 515,292 Heelys, Inc. COM 42279M107 2,070 900,000 SH SOLE 900,000 Hennessy Advisors Inc. COM 425885100 319 106,500 SH SOLE 106,500 Hess Corporation COM 42809H107 464 5,450 SH SOLE 5,450 Hewlett Packard COM 428236103 244 5,957 SH SOLE 5,957 Hill International, Inc. COM 431466101 3,475 656,900 SH SOLE 656,900 Home Depot Inc. COM 437076102 232 6,262 SH SOLE 6,262 Hooper Holmes Inc. COM 439104100 2,177 2,922,500 SH SOLE 2,922,500 Hopfedd Bancorp, Inc. COM 439734104 992 107,800 SH SOLE 107,800 Hornbeck Offshore Services COM 440543106 3,705 120,100 SH SOLE 120,100 HQ Sustainable Maritime Indust COM 40426A208 459 150,000 SH SOLE 150,000 IA Global Inc. COM 44920E104 24 47,300 SH SOLE 47,300 iCAD Inc. COM 44934S107 405 300,000 SH SOLE 300,000 Illinois Tool Works, Inc. COM 452308109 408 7,600 SH SOLE 7,600 Imperial Holdings COM 452834104 3,720 366,500 SH SOLE 366,500 Innodata Isogen Inc. COM 457642205 2,518 1,047,000 SH SOLE 1,047,000 Insteel Industries Inc. COM 45774W108 3,471 245,500 SH SOLE 245,500 IntegraMed America Inc. COM 45810N302 3,354 325,000 SH SOLE 325,000 Integrated Silicon Solutions COM 45812P107 3,353 361,700 SH SOLE 361,700 Intel Corp. COM 458140100 387 19,185 SH SOLE 19,185 International Business Machine COM 459200101 851 5,220 SH SOLE 5,220 Intersections, Inc. COM 460981301 3,596 290,000 SH SOLE 290,000 inTest Corp. COM 461147100 681 185,000 SH SOLE 185,000 IPass Inc. COM 46261V108 3,019 1,935,100 SH SOLE 1,935,100 Iridex Corp. COM 462684101 574 126,203 SH SOLE 126,203 Isoray Inc. COM 46489V104 263 209,000 SH SOLE 209,000 Iteris Inc. COM 46564T107 538 373,700 SH SOLE 373,700 J P Morgan Chase & Co. COM 46625H100 418 9,063 SH SOLE 9,063 John B Sanfilippo & Son Inc. COM 800422107 5,059 432,428 SH SOLE 432,428 Johnson & Johnson COM 478160104 440 7,420 SH SOLE 7,420 Kimball International Inc. COM 494274103 4,583 654,781 SH SOLE 654,781 Kimberly-Clark Corporation COM 494368103 317 4,850 SH SOLE 4,850 KMG Chemicals Inc. COM 482564101 5,281 268,600 SH SOLE 268,600 Kratos Defense & Security Solu COM 50077B108 711 50,000 SH SOLE 50,000 KSW Inc. COM 48268R106 830 235,000 SH SOLE 235,000 L.B. Foster COM 350060109 4,099 95,080 SH SOLE 95,080 Lakeland Industries COM 511795106 890 100,000 SH SOLE 100,000 Landec Corporation COM 514766104 3,925 603,800 SH SOLE 603,800 LGL Group COM 50186A108 583 42,000 SH SOLE 42,000 LMI Aerospace, Inc. COM 502079106 3,725 184,324 SH SOLE 184,324 LRAD Corp. COM 030145205 1,034 370,637 SH SOLE 370,637 Macys COM 55616P104 226 9,325 SH SOLE 9,325 Magellan Petroleum Corp. COM 559091301 702 290,000 SH SOLE 290,000 Magnetek Inc. COM 559424106 878 399,300 SH SOLE 399,300 Magnum Hunter Resources COM 55973B102 5,104 595,553 SH SOLE 595,553 Management Network Group, Inc. COM 561693102 832 343,840 SH SOLE 343,840 Manitex COM 563420108 715 130,000 SH SOLE 130,000 Matrix Service Co. COM 576853105 5,292 380,711 SH SOLE 380,711 Medical Action Industries Inc. COM 58449L100 2,310 275,000 SH SOLE 275,000 Medtronic Inc. COM 585055106 322 8,186 SH SOLE 8,186 Methode Electronics Inc. COM 591520200 2,452 203,000 SH SOLE 203,000 MFRI, Inc. COM 552721102 3,994 357,907 SH SOLE 357,907 Microfinancial Inc. COM 595072109 899 203,023 SH SOLE 203,023 Micronetics, Inc. COM 595125105 646 157,558 SH SOLE 157,558 Microsoft Corp. COM 594918104 316 12,427 SH SOLE 12,427 Midas Inc. COM 595626102 3,289 428,848 SH SOLE 428,848 Mitcham Industries, Inc. COM 606501104 6,655 487,570 SH SOLE 487,570 Moduslink Global Solutions COM 60786L107 1,777 325,000 SH SOLE 325,000 Monmouth Real Estate Investment COM 609720107 3,613 440,100 SH SOLE 440,100 Motorcar Parts of America, Inc. COM 620071100 1,404 100,400 SH SOLE 100,400 Nam Tai Electronics, Inc. COM PAR $0.02 629865205 2,277 353,000 SH SOLE 353,000 Napco Security Systems Inc. COM 630402105 863 380,000 SH SOLE 380,000 Navarre Corporation COM 639208107 465 245,000 SH SOLE 245,000 Newpark Resources Inc. COM 651718504 5,761 732,900 SH SOLE 732,900 Newtek Business Services Inc. COM 652526104 1,353 825,000 SH SOLE 825,000 Nicholas Financial, Inc. COM NEW 65373J209 3,106 257,525 SH SOLE 257,525 Noah Education ADS ADR 65487R303 1,568 722,600 SH SOLE 722,600 Nobility Homes Inc. COM 654892108 359 38,500 SH SOLE 38,500 Northern Technologies Intl COM 665809109 2,876 190,075 SH SOLE 190,075 Northwest Pipe Company COM 667746101 2,417 105,400 SH SOLE 105,400 Nucor Corporation COM 670510106 400 8,700 SH SOLE 8,700 Omnova Solutions, Inc. COM 682129101 2,870 364,707 SH SOLE 364,707 On Track Innovations Ltd. SHS M8791A109 642 300,000 SH SOLE 300,000 Onvia, Inc. COM 68338T403 716 170,500 SH SOLE 170,500 Ophthalmic Imaging Systems Inc. COM 683737209 571 705,000 SH SOLE 705,000 Oplink Communications Inc. COM 68375Q403 5,254 269,550 SH SOLE 269,550 Orchids Paper Products COM 68572N104 3,499 289,195 SH SOLE 289,195 Orion Energy Systems, Inc. COM 686275108 605 150,000 SH SOLE 150,000 Overhill Farms Inc. COM 690212105 608 100,000 SH SOLE 100,000 Pacific Premier Bank Corp. COM 69478X105 1,374 201,500 SH SOLE 201,500 PC Mall, Inc. COM 69323K100 6,402 617,355 SH SOLE 617,355 PCTEL Inc. COM 69325Q105 4,922 641,700 SH SOLE 641,700 Penford Corporation COM 707051108 2,200 353,084 SH SOLE 353,084 Pepsico COM 713448108 585 9,077 SH SOLE 9,077 Perceptron, Inc. COM 71361F100 889 140,000 SH SOLE 140,000 Perma-Fix Environmental Servic COM 714157104 3,847 2,547,994 SH SOLE 2,547,994 Permian Basin Royalty Trust COM 714236106 218 10,000 SH SOLE 10,000 Pfizer COM 717081103 533 26,225 SH SOLE 26,225 PHC Inc. CL A 693315103 1,500 568,000 SH SOLE 568,000 PHI, Inc. COM NON VTG 69336T205 4,358 196,999 SH SOLE 196,999 PRG-Schultz International COM 69357C503 4,063 669,300 SH SOLE 669,300 Proctor & Gamble Co. COM 742718109 458 7,438 SH SOLE 7,438 Psychemedics Corporation COM 744375205 1,428 129,197 SH SOLE 129,197 Pure Earth Inc. COM 746231105 10 305,000 SH SOLE 305,000 Questcor Pharmaceuticlals COM 74835Y101 8,767 608,400 SH SOLE 608,400 RADVISION Ltd. ORD M81869105 4,291 377,100 SH SOLE 377,100 Ramtron International Corp. COM 751907304 637 295,000 SH SOLE 295,000 RCM Technologies COM 749360400 3,085 606,060 SH SOLE 606,060 Reading International COM 755408101 937 185,500 SH SOLE 185,500 RELM Wireless Corp. COM 759525108 159 100,000 SH SOLE 100,000 Rentrak Corporation COM 760174102 7,177 266,600 SH SOLE 266,600 Republic Airways Holdings COM 760276105 3,861 600,400 SH SOLE 600,400 RF Monolithics, Inc. COM 74955F106 315 252,150 SH SOLE 252,150 Rimage Corp. COM 766721104 4,239 262,450 SH SOLE 262,450 Riverview Bancorp Inc. COM 769397100 915 301,100 SH SOLE 301,100 Rudolph Technologies Inc. COM 781270103 2,902 265,250 SH SOLE 265,250 Rush Enterprises, Inc. CL B SBI 781846308 2,437 140,086 SH SOLE 140,086 SPDR S&P 500 ETF Tr TR UNIT 78462F103 2,866 21,616 SH SOLE 21,616 Sanders Morris Harris Group COM 80000Q104 5,181 646,852 SH SOLE 646,852 Schlumberger Ltd. COM 806857108 616 6,600 SH SOLE 6,600 Schmitt Industries Inc. COM 806870200 304 72,500 SH SOLE 72,500 Scorpio Tankers Inc. SHS Y7542C106 2,064 200,000 SH SOLE 200,000 Seabright Holdings, Inc. COM 811656107 2,675 260,960 SH SOLE 260,960 SeaChange International Inc. COM 811699107 3,497 368,100 SH SOLE 368,100 Seanergy Maritime Holdings SHS Y73760103 214 350,000 SH SOLE 350,000 Sino Clean energy Inc. COM NEW 82936G200 1,738 305,000 SH SOLE 305,000 Sinohub, Inc. com 82935L101 822 435,000 SH SOLE 435,000 Smartpros COM 83171G103 469 206,766 SH SOLE 206,766 Smith Micro Software Inc. COM 832154108 3,515 375,540 SH SOLE 375,540 Socket Mobile Inc. COM 83368E200 304 148,340 SH SOLE 148,340 SORL Auto Parts Inc. COM 78461U101 3,778 623,381 SH SOLE 623,381 Southwest Airlines Co. COM 844741108 397 31,471 SH SOLE 31,471 Sparton Corporation COM 847235108 1,159 149,100 SH SOLE 149,100 Star Bulk Carriers Corp. COM Y8162K105 3,470 1,445,888 SH SOLE 1,445,888 Star Gas Partners LP COM 85512C105 2,606 457,180 SH SOLE 457,180 StealthGas Inc. SHS Y81669106 3,111 494,700 SH SOLE 494,700 Steinway Musical Instruments COM 858495104 3,521 158,542 SH SOLE 158,542 Sterling Construction Co. Inc. COM 859241101 2,616 154,981 SH SOLE 154,981 Stewart Enterprises, Inc. COM 860370105 4,248 556,000 SH SOLE 556,000 Stryker Corp. COM 863667101 290 4,767 SH SOLE 4,767 SWS Group, Inc. COM 78503N107 2,823 465,000 SH SOLE 465,000 Synergetics USA, Inc. COM 87160G107 1,025 174,000 SH SOLE 174,000 Systemax Inc. COM 871851101 1,244 92,000 SH SOLE 92,000 T. Rowe Price Group, Inc. COM 741477103 621 9,350 SH SOLE 9,350 Tandy Brands Accessories COM 875378101 631 218,250 SH SOLE 218,250 Target Corporation COM 87612E106 263 5,250 SH SOLE 5,250 Texas Instruments Inc. COM 882508104 539 15,610 SH SOLE 15,610 TGC Industries, Inc. COM 872417308 6,973 897,475 SH SOLE 897,475 Tier Technologies Inc. COM 88650Q100 2,544 462,477 SH SOLE 462,477 TOR Minerals International, Inc. COM 890878101 876 45,280 SH SOLE 45,280 Transcend Services, Inc. COM 893929208 6,952 289,800 SH SOLE 289,800 Trinity Biotech ADR New SPON ADR NEW 896438306 1,044 111,306 SH SOLE 111,306 Tuesday Morning COM 899035505 2,482 506,500 SH SOLE 506,500 Turbosonic Technologies, Inc. COM 900010109 478 1,110,000 SH SOLE 1,110,000 U. S. Global Investors, Inc. COM 902952100 4,555 561,682 SH SOLE 561,682 Union Drilling Inc. COM 90653P105 5,687 554,800 SH SOLE 554,800 Universal Electronics, Inc. COM 913483103 4,891 165,450 SH SOLE 165,450 Universal Power Corp. COM 913788105 1,020 244,616 SH SOLE 244,616 Universal Stainless & Alloy Pr COM 913837100 675 20,000 SH SOLE 20,000 Uranium Energy Corp. COM 916896103 2,606 653,100 SH SOLE 653,100 URG Energy COM 91688R108 1,782 1,080,000 SH SOLE 1,080,000 US Energy Corp. COM 911805109 2,504 400,000 SH SOLE 400,000 US Home Systems Inc. COM 90335C100 1,057 239,150 SH SOLE 239,150 USA Truck, Inc. COM 902925106 2,666 205,082 SH SOLE 205,082 Vaalco Energy, Inc. COM 91851C201 6,084 784,000 SH SOLE 784,000 Versant Corp. COM 925284309 391 30,000 SH SOLE 30,000 Versar COM 925297103 1,083 330,200 SH SOLE 330,200 Virtus Investment Partners COM 92828Q109 4,599 78,060 SH SOLE 78,060 Virtusa Corporation COM 92827P102 6,775 361,698 SH SOLE 361,698 Vista Gold Corp. New COM NEW 927926303 1,008 252,000 SH SOLE 252,000 Vitran Corporation Inc. COM 92850E107 2,259 160,350 SH SOLE 160,350 Vivus Inc. COM 928551100 1,242 200,675 SH SOLE 200,675 Wal Mart COM 931142103 290 5,575 SH SOLE 5,575 Walgreen Company COM 931422109 246 6,132 SH SOLE 6,132 Wells-Gardner Electronics Corp. COM 949765101 631 301,000 SH SOLE 301,000 Whitestone REIT CL B SBI 966084204 2,862 200,000 SH SOLE 200,000 Widepoint Corporation COM 967590100 984 775,000 SH SOLE 775,000 Willamette Valley Vineyards Inc. COM 969136100 475 148,500 SH SOLE 148,500 Williams Controls Inc. COM 969465103 717 64,800 SH SOLE 64,800 Worldwide Energy and Mfg COM 98158R104 607 212,850 SH SOLE 212,850 Yum Brands, Inc. COM 895953107 603 11,745 SH SOLE 11,745 Zolon Corp. COM 98978T108 667 1,666,667 SH SOLE 1,666,667 TOTAL 603,789