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
Acco Brands Corp Common 00081T108 15,716 2,338,650 SH   SOLE N/A 1,921,500 0 417,150
AT & T Corp Common 00206R102 1,115 31,700 SH   SOLE N/A 31,700 0 0
Cadiz Inc Common 127537207 9,776 1,404,557 SH   SOLE N/A 998,182 0 406,375
Compass Diversified Holdings Common 20451Q104 12,550 639,310 SH   SOLE N/A 625,000 0 14,310
Durect Corporation Common 266605104 2,072 1,197,900 SH   SOLE N/A 124,000 0 1,073,900
Fluor Corp Common 343412102 14,056 175,070 SH   SOLE N/A 133,500 0 41,570
Fxcm Inc Common 302693106 21,984 1,232,290 SH   SOLE N/A 995,050 0 237,240
Global Power Equipment Group Common 37941P306 19,970 1,020,451 SH   SOLE N/A 848,513 0 171,938
Great Lakes Dredge & Dock Co Common 390607109 16,843 1,830,738 SH   SOLE N/A 1,468,000 0 362,738
ICICI Bank Ltd Common 45104G104 10,650 286,510 SH   SOLE N/A 237,200 0 49,310
Johnson Control Inc Common 478366107 14,512 282,890 SH   SOLE N/A 223,100 0 59,790
Jth Holding Inc Common 46637N103 1,942 79,925 SH   SOLE N/A 33,500 0 46,425
Kennedy-Wilson Holdings Inc Common 489398107 11,010 494,810 SH   SOLE N/A 387,800 0 107,010
Libbey Inc Common 529898108 25,596 1,218,875 SH   SOLE N/A 954,250 0 264,625
LSB Industries Inc Common 502160104 19,990 487,325 SH   SOLE N/A 396,900 0 90,425
Metalico Inc ADR 591176102 6,284 3,035,950 SH   SOLE N/A 2,912,000 0 123,950
Quanta Services Inc Common 74762E102 18,228 577,570 SH   SOLE N/A 472,800 0 104,770
Rand Logistics Inc Common 752182105 7,887 1,366,959 SH   SOLE N/A 1,213,000 0 153,959
Stealthgas Inc Common Y81669106 14,986 1,470,700 SH   SOLE N/A 1,203,600 0 267,100
Triangle Petroleum Corp Common 89600B201 7,256 872,065 SH   SOLE N/A 575,900 0 296,165
Tronox Ltd Common Q9235V101 11,715 507,785 SH   SOLE N/A 391,700 0 116,085