13F-HR 1 f13fhr_012506.txt SKYLINE ASSET MANAGEMENT FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2005 if amendment report check here [ ]; Amendment Number: ----------- This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holding entries. Skyline Asset Management, L.P. -------------------------------------------------------------------------------- Name of Institutional Investment Manager 311 South Wacker Drive, Suite 4500, Chicago, IL 60606 -------------------------------------------------------------------------------- Business Address (Street) (City) (State) (Zip) Form 13F File Number:28-5324 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, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Deanna B. Marotz Chief Compliance Officer (312) 913-3953 -------------------------------------------------------------------------------- Name (Title) (Phone) /s/ Deanna B. Marotz --------------------------------- (Manual Signature of Person Duly Authorized to Submit This Report) Chicago, IL January 25, 2006 --------------------------------- (Place and Date of Signing) Report Type: [ ] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [X] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 76 Form 13F Information Table Value Total: $1,555,737 (thousands) List of Other Included Managers: Name and 13F file numbers of ALL Institutional Investment Managers with respect to which this schedule is filed (other than the one filing this report):(List in alphabetical order) (If there are no entries in this list, state "NONE" and omit the column headings and list entries.) 13F File Numbers will be assigned to Institutional Investment Managers after they file their first report. No. Form 13F File Number Name --- -------------------- ---- 1 28-04975 Affiliated Managers Group, Inc.
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ ------ ------ ------ ------------------- --------------- -------- ----------------------- TITLE OF VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- -------- ------ -------- ------------------- ---------- -------- ---- ------ ---- ADVO, Inc. COM 007585102 $ 20,991 744,900 Shared-Defined 1 699,673 45,227 Acuity Brands, Inc. COM 00508Y102 $ 31,904 1,003,276 Shared-Defined 1 942,362 60,914 Adesa, Inc. COM 00686U104 $ 29,302 1,199,900 Shared-Defined 1 1,126,700 73,200 Aftermarket Technology Corp. COM 008318107 $ 20,243 1,041,300 Shared-Defined 1 977,100 64,200 Albany International Corp. CL A 012348108 $ 24,592 680,100 Shared-Defined 1 640,000 40,100 Albemarle Corporation COM 012653101 $ 26,531 691,800 Shared-Defined 1 649,100 42,700 Amerus Group Co. COM 03072M108 $ 25,473 449,500 Shared-Defined 1 422,300 27,200 Andrew Corp COM 034425108 $ 15,148 1,411,700 Shared-Defined 1 1,323,300 88,400 Applied Films Corporation COM 038197109 $ 13,436 646,900 Shared-Defined 1 607,800 39,100 Artesyn Technologies, Inc. COM 043127109 $ 11,992 1,164,300 Shared-Defined 1 1,088,000 76,300 Aspen Insurance Holdings Limit SHS G05384105 $ 21,395 903,900 Shared-Defined 1 848,800 55,100 Belden CDT Inc. COM 077454106 $ 19,847 812,400 Shared-Defined 1 764,000 48,400 Benchmark Electronics, Inc. COM 08160H101 $ 33,119 984,800 Shared-Defined 1 926,900 57,900 Big 5 Sporting Goods Corp COM 08915P101 $ 18,635 851,300 Shared-Defined 1 800,500 50,800 Borders Group, Inc. COM 099709107 $ 16,934 781,450 Shared-Defined 1 733,850 47,600 CBRL Group, Inc. COM 12489V106 $ 27,464 781,330 Shared-Defined 1 732,930 48,400 Carlisle Companies Incorporate COM 142339100 $ 22,294 322,400 Shared-Defined 1 302,700 19,700 Centene Corporation COM 15135B101 $ 10,406 395,800 Shared-Defined 1 371,600 24,200 Clark, Inc. COM 181457102 $ 12,230 923,000 Shared-Defined 1 867,900 55,100 Commercial Capital Bancorp, In COM 20162L105 $ 18,914 1,104,800 Shared-Defined 1 1,037,200 67,600 Commscope, Inc. COM 203372107 $ 30,094 1,495,000 Shared-Defined 1 1,403,600 91,400 Conseco, Inc. COM NEW 208464883 $ 34,660 1,495,900 Shared-Defined 1 1,404,500 91,400 Crane Co. COM 224399105 $ 38,635 1,095,400 Shared-Defined 1 1,030,400 65,000 Curtiss-Wright Corporation COM 231561101 $ 16,183 296,400 Shared-Defined 1 278,300 18,100 Cytec Industries Inc. COM 232820100 $ 36,456 765,400 Shared-Defined 1 718,900 46,500 Davita Inc. COM 23918K108 $ 15,605 308,150 Shared-Defined 1 289,050 19,100 Delphi Financial Group, Inc. CL A 247131105 $ 30,709 667,434 Shared-Defined 1 626,261 41,173 Drew Industries Incorporated COM NEW 26168L205 $ 16,159 573,200 Shared-Defined 1 537,700 35,500 Electronics For Imaging, Inc. COM 286082102 $ 27,354 1,027,947 Shared-Defined 1 966,185 61,762 EnerSys COM 29275Y102 $ 5,168 396,300 Shared-Defined 1 368,200 28,100 Fairchild Semiconductor Int'l. COM 303726103 $ 29,025 1,716,450 Shared-Defined 1 1,613,550 102,900 Flowserve Corporation COM 34354P105 $ 21,930 554,350 Shared-Defined 1 520,450 33,900 Global Power Equipment Group COM 37941P108 $ 7,408 1,638,900 Shared-Defined 1 1,537,600 101,300 Heidrick & Struggles Intl COM 422819102 $ 17,685 551,800 Shared-Defined 1 517,300 34,500 Hudson Highland Group, Inc. COM 443792106 $ 18,134 1,044,600 Shared-Defined 1 982,400 62,200 ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ ------ ------ ------ ------------------- --------------- -------- ----------------------- TITLE OF VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- -------- ------ -------- ------------------- ---------- -------- ---- ------ ---- Interpool, Inc. COM 46062R108 $ 17,105 906,000 Shared-Defined 1 853,600 52,400 Laidlaw International, Inc. COM 50730R102 $ 27,231 1,172,250 Shared-Defined 1 1,104,150 68,100 MCG Capital Corporation COM 58047P107 $ 22,794 1,562,300 Shared-Defined 1 1,466,644 95,656 MEMC Electronic Materials, Inc COM 552715104 $ 16,426 740,900 Shared-Defined 1 695,300 45,600 Mentor Graphics Corporation COM 587200106 $ 25,940 2,508,700 Shared-Defined 1 2,356,600 152,100 NCI Building Systems, Inc. COM 628852105 $ 32,586 767,100 Shared-Defined 1 721,400 45,700 NETGEAR, Inc. COM 64111Q104 $ 11,327 588,400 Shared-Defined 1 551,700 36,700 Newfield Exploration Company COM 651290108 $ 14,721 294,000 Shared-Defined 1 275,900 18,100 Pacer International, Inc. COM 69373H106 $ 13,218 507,200 Shared-Defined 1 475,600 31,600 Parametric Technology Corp COM 699173100 $ 16,570 2,716,400 Shared-Defined 1 2,548,500 167,900 Park Electrochemical Corp. COM 700416209 $ 14,528 559,200 Shared-Defined 1 527,200 32,000 ProQuest Company COM 74346P102 $ 25,426 911,000 Shared-Defined 1 855,900 55,100 Prosperity Bancshares, Inc. COM 743606105 $ 20,707 720,500 Shared-Defined 1 677,600 42,900 Provident Bankshares Corporati COM 743859100 $ 17,549 519,665 Shared-Defined 1 488,065 31,600 Rare Hospitality International COM 753820109 $ 17,468 574,800 Shared-Defined 1 539,100 35,700 Reinsurance Group Of America, COM 759351109 $ 35,566 744,690 Shared-Defined 1 700,190 44,500 Ryder System, Inc. COM 783549108 $ 17,630 429,800 Shared-Defined 1 403,800 26,000 S1 Corporation COM 78463B101 $ 8,395 1,930,000 Shared-Defined 1 1,805,800 124,200 Scansource, Inc. COM 806037107 $ 11,425 208,950 Shared-Defined 1 193,250 15,700 Schawk, Inc. CL A 806373106 $ 3,588 172,900 Shared-Defined 1 161,900 11,000 Scottish Re Group Limited ORD G7885T104 $ 28,441 1,158,500 Shared-Defined 1 1,087,200 71,300 Source Interlink COM Companies, In NEW 836151209 $ 5,603 503,900 Shared-Defined 1 475,200 28,700 Sterling Financial Corporation COM 859319105 $ 21,070 843,477 Shared-Defined 1 792,097 51,380 Swift Transportation Co., Inc. COM 870756103 $ 18,809 926,550 Shared-Defined 1 869,850 56,700 Syniverse Holdings, Inc. COM 87163F106 $ 25,862 1,237,400 Shared-Defined 1 1,160,600 76,800 Synnex Corporation COM 87162W100 $ 15,128 1,001,200 Shared-Defined 1 939,800 61,400 The Houston Exploration COM 442120101 $ 12,355 234,000 Shared-Defined 1 219,800 14,200 The Scotts Miracle- Gro Company CL A 810186106 $ 15,852 350,400 Shared-Defined 1 328,900 21,500 The Sports Authority, Inc. COM 84917U109 $ 30,128 967,800 Shared-Defined 1 907,900 59,900 The Steak n Shake Company COM 857873103 $ 21,910 1,292,600 Shared-Defined 1 1,212,600 80,000 The Toro Company COM 891092108 $ 27,868 636,700 Shared-Defined 1 597,300 39,400 Triad Guaranty Inc. COM 895925105 $ 9,990 227,100 Shared-Defined 1 213,718 13,382 Triad Hospitals, Inc. COM 89579K109 $ 17,995 458,700 Shared-Defined 1 430,700 28,000 U.S.I. Holdings Corporation COM 90333H101 $ 24,710 1,794,511 Shared-Defined 1 1,682,921 111,590 United Panam Financial Corp COM 911301109 $ 12,938 500,100 Shared-Defined 1 469,500 30,600 United Rentals, Inc. COM 911363109 $ 11,959 511,300 Shared-Defined 1 479,600 31,700 ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ------ ------ ------ ------ ------------------- --------------- -------- ----------------------- TITLE OF VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- -------- ------ -------- ------------------- ---------- -------- ---- ------ ---- United Stationers Inc. COM 913004107 $ 25,225 520,100 Shared-Defined 1 488,100 32,000 Walter Industries, Inc. COM 93317Q105 $ 15,846 318,700 Shared-Defined 1 298,700 20,000 Watson Wyatt Worldwide, Inc. CL A 942712100 $ 22,047 790,200 Shared-Defined 1 743,400 46,800 eFunds Corporation COM 28224R101 $ 26,356 1,124,398 Shared-Defined 1 1,056,596 67,802 iStar Financial Inc. COM 45031U101 $ 29,390 824,400 Shared-Defined 1 775,200 49,200 TOTAL $1,555,737