formsc13ga.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

(Rule 13d-102)

Under the Securities Exchange Act of 1934

(Amendment No. 2)*

America Service Group, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

02364L109

(CUSIP Number)

December 31, 2010

Date of Event Which Requires Filing of the Statement

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)

x Rule 13d-1(c)

o Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP NO. 02364L109

13G/A

Page 2 of 9 Pages

1	NAMES OF REPORTING PERSON

	NV North American Opportunity Fund

	SS OR I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON

	98-0454389

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)x
		(b)o

3	SEC USE ONLY

4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Cayman Islands

NUMBER OF	5	SOLE VOTING POWER
SHARES		32,114
BENEFICIALLY	6	SHARED VOTING POWER
OWNED BY		0
EACH	7	SOLE DISPOSITIVE POWER
REPORTING		32,114
PERSON	8	SHARED DISPOSITIVE POWER
WITH		0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON	o
	32,114
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	0.35%1
12	TYPE OF REPORTING PERSON
	CO

1 As of December 31, 2010, based on the 9,265,915 shares of Common Stock outstanding as of November 1, 2010, as reported by the Issuer on its Form 10-Q filed November 2, 2010 with the Securities and Exchange Commission.

CUSIP NO. 02364L109

13G/A

Page 3 of 9 Pages

1	NAMES OF REPORTING PERSON

	New Vernon Investment Management LLC

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)x
		(b)o

3	SEC USE ONLY

4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF	5	SOLE VOTING POWER
SHARES		32,114
BENEFICIALLY	6	SHARED VOTING POWER
OWNED BY		0
EACH	7	SOLE DISPOSITIVE POWER
REPORTING		32,114
PERSON	8	SHARED DISPOSITIVE POWER
WITH		0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON	o
	32,114
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	0.35%1
12	TYPE OF REPORTING PERSON
	IA

2 See footnote 1.

CUSIP NO. 02364L109

13G/A

Page 4 of 9 Pages

1	NAMES OF REPORTING PERSON

	Trent Stedman

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)x
		(b)o

3	SEC USE ONLY

4	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States

NUMBER OF	5	SOLE VOTING POWER
SHARES		32,114
BENEFICIALLY	6	SHARED VOTING POWER
OWNED BY		0
EACH	7	SOLE DISPOSITIVE POWER
REPORTING		32,114
PERSON	8	SHARED DISPOSITIVE POWER
WITH		0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON	o
	32,114
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	0.35%1
12	TYPE OF REPORTING PERSON
	IN

3 See footnote 1.

CUSIP NO. 02364L109

13G/A

Page 5 of 9 Pages

Item 1(a) Name of Issuer: America Service Group, Inc.

Item 1(b) Address of Issuer’s Principal Executive Offices:

105 Westpark Drive, Suite 200

Brentwood, Tennessee 37027

Item 2(a) Name of Person Filing

Item 2(b) Address of Principal Business Office

Item 2(c) Citizenship

NV North American Opportunity Fund

799 Central Ave.

Suite 350

Highland Park, Illinois 60035

Cayman Islands

New Vernon Investment Management LLC

799 Central Ave.

Suite 350

Highland Park, Illinois 60035

Delaware

Trent Stedman

799 Central Ave.

Suite 350

Highland Park, Illinois 60035

United States Citizen

2(d) Title of Class of Securities: Common Stock

2(e) CUSIP Number: 02364L109

Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under Section 15 of the Exchange Act;

(b)

Bank as defined in Section 3(a)(6) of the Exchange Act;

(c)

Insurance company as defined in Section 3(a)(19) of the Exchange Act;

(d)

Investment company registered under Section 8 of the Investment Company Act;

(e)

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

CUSIP NO. 02364L109

13G/A

Page 6 of 9 Pages

(g)

A parent holding company or control person in accordance with Rule §240.13d-1(b)(1)(ii)(G);

(h)

A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;

(i)

A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

(k)

Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____

Item 4 Ownership:

(i) NV North American Opportunity Fund4

(a) Amount beneficially owned: 32,114 shares

(b) Percent of Class: Approximately 0.35%5

(i)

sole power to vote or to direct the vote: 32,114

(ii)

shared power to vote or to direct the vote: 0

(iii)

sole power to dispose or to direct the disposition of: 32,114

(iv)

shared power to dispose or to direct the disposition of: 0

(ii) New Vernon Investment Management LLC6

(a) Amount beneficially owned: 32,114 shares

As of December 31, 2010, New Vernon Investment Management LLC was the investment manager of NV North American Opportunity Fund, and Trent Stedman was the portfolio manager of New Vernon Investment Management LLC. As a result of such role and otherwise by virtue of his relationship with NV North American Opportunity Fund and New Vernon Investment Management LLC, Mr. Stedman may have been deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 under Securities Exchange Act of 1934, as amended (the “Act”)), the shares of Common Stock directly beneficially owned by NV North American Opportunity Fund. New Vernon Investment Management LLC also may have been deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 of the Act) the shares of Common Stock directly benef icially owned by NV North American Opportunity Fund.

5	See footnote 1.

6	See footnote 4.

CUSIP NO. 02364L109

13G/A

Page 7 of 9 Pages

(b) Percent of Class: Approximately 0.35%7

(i)

sole power to vote or to direct the vote: 32,114

(ii)

shared power to vote or to direct the vote: 0

(iii)

sole power to dispose or to direct the disposition of: 32,114

(iv)

shared power to dispose or to direct the disposition of: 0

(iii) New Vernon Partners LLC8

(a) Amount beneficially owned: 32,114 shares

(b) Percent of Class: Approximately 0.35%9

(i)

sole power to vote or to direct the vote: 32,114

(ii)

shared power to vote or to direct the vote: 0

(iii)

sole power to dispose or to direct the disposition of: 32,114

(iv)

shared power to dispose or to direct the disposition of: 0

(iii) Trent Stedman10

(a) Amount beneficially owned: 32,114 shares

(b) Percent of Class: Approximately 0.35%11

(i)

sole power to vote or to direct the vote: 32,114

(ii)

shared power to vote or to direct the vote: 0

7	See footnote 1.

8	See footnote 4.

9	See footnote 1.

10	See footnote 4.

11	See footnote 1.

CUSIP NO. 02364L109

13G/A

Page 8 of 9 Pages

(iii)

sole power to dispose or to direct the disposition of: 32,114

(iv)

shared power to dispose or to direct the disposition of: 0

Item 5 Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following:x

Item 6

Ownership of More than Five Percent on Behalf of Another Person:

Not Applicable.

Item 7

Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company:

Not applicable.

Item 8

Identification and Classification of Members of the Group:

Not applicable.

Item 9

Notice of Dissolution of Group:

Not Applicable.

Item 10

Certification:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

CUSIP NO. 02364L109

13G/A

Page 9 of 9 Pages

Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated as of February 10, 2011	NV North American Opportunity Fund
	By:	New Vernon Investment Management LLC


	By:	/s/ Trent Stedman
		Trent Stedman


Dated as of February 10, 2011	New Vernon Investment Management LLC


	By:	/s/ Trent Stedman
		Trent Stedman


Dated as of February 10, 2011		/s/ Trent Stedman
		Trent Stedman