13F-HR 1 inftable.txt SCHEDULE 13F FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Advance Auto Parts COM 00751Y106 11416 294000 SH SOLE 294000 Alberto Culver Co COM 013078100 385 14650 SH SOLE 14650 Alpharma Inc Class A COM 020813101 27386 1215545 SH SOLE 1208745 6800 549 24385 SH OTHER 04 02 24185 Altria Group Inc. COM 02209S103 278 13500 SH SOLE 13500 Amazon Company Inc. COM 023135106 2888 39383 SH SOLE 39383 American Capital Strategies COM 024937104 1018 42820 SH SOLE 42820 Ares Capital Corp. COM 04010L103 981 97325 SH SOLE 97325 Autozone Inc. COM 053332102 35639 294510 SH SOLE 294210 300 218 1800 SH OTHER 02 1800 B J Services COM 055482103 227 7120 SH SOLE 7120 Barrick Gold Corp COM 067901108 495 10876 SH SOLE 10876 Best Buy Inc. COM 086516101 5425 137000 SH SOLE 137000 Bristol-Myers Squibb Co. COM 110122108 631 30736 SH SOLE 30736 Brookdale Sr Living Inc. COM 112463104 283 13900 SH SOLE 13900 Brookfield Asset Mgmt Inc. Cla COM 112585104 5115 157183 SH SOLE 156296 887 Buckeye Technologies Inc. COM 118255108 23736 2805624 SH SOLE 2791174 14450 431 50982 SH OTHER 04 02 50562 Cabot Oil & Gas Corp. COM 127097103 2802 41375 SH SOLE 41375 CBS Corp. Class B COM 124857202 8641 443365 SH SOLE 442540 825 98 5025 SH OTHER 02 5025 Cedar Fair LP * COM 150185106 3544 188609 SH SOLE 188609 Chesapeake Energy Corp. COM 165167107 31407 476155 SH SOLE 475270 885 336 5090 SH OTHER 02 5090 Chevron Corp New COM 166764100 205 2066 SH SOLE 2066 CIT Group Inc. COM 125581108 2104 308900 SH SOLE 308900 12 1705 SH OTHER 02 1705 Citizens Communications Co. COM 17453B101 2320 204584 SH SOLE 204584 25 2200 SH OTHER 02 2200 Colgate Palmolive Co COM 194162103 1099 15900 SH SOLE 15900 Compton Petroleum Corp. COM 204940100 7719 606810 SH SOLE 599735 7075 295 23210 SH OTHER 04 02 22930 Core Laboratories COM N22717107 19329 135787 SH SOLE 134842 945 433 3041 SH OTHER 04 02 3006 CVS/Caremark Corp. COM 126650100 19785 500000 SH SOLE 500000 Danaher Corp. COM 235851102 6571 85000 SH SOLE 85000 Darwin Professional Underwrite COM 237502109 11248 365200 SH SOLE 361625 3575 362 11740 SH OTHER 04 02 11600 FedEx Corp. COM 31428X106 5402 68565 SH SOLE 68315 250 79 1005 SH OTHER 02 1005 Ferrellgas Partners L.P. COM 315293100 570 28950 SH SOLE 28950 First Horizon Natl Corp. COM 320517105 599 80622 SH SOLE 65622 15000 Ford Motor Co COM 345370860 4332 900657 SH SOLE 900657 Forestar Real Estate Group COM 346233109 9064 475805 SH SOLE 471655 4150 268 14055 SH OTHER 04 02 13960 Gardner Denver Inc COM 365558105 71434 1257646 SH SOLE 1250446 7200 1554 27360 SH OTHER 04 02 27130 Gartner Inc. COM 366651107 55978 2701625 SH SOLE 2688225 13400 985 47560 SH OTHER 04 02 47170 General Electric Company COM 369604103 400 15000 SH SOLE 15000 Geomet Inc. COM 37250U201 9206 971045 SH SOLE 962070 8975 282 29760 SH OTHER 04 02 29410 Haynes International Inc COM 420877201 19061 331215 SH SOLE 328655 2560 494 8580 SH OTHER 04 02 8505 HCC Insurance Holdings Inc. COM 404132102 12959 612995 SH SOLE 611745 1250 149 7035 SH OTHER 02 7035 Home Depot Inc. COM 437076102 10188 435000 SH SOLE 435000 Hugoton Rlty Tr COM 444717102 918 24800 SH SOLE 24800 Infinity Property & Casualty C COM 45665Q103 33011 795070 SH SOLE 790370 4700 687 16535 SH OTHER 04 02 16400 Intl. Business Machines COM 459200101 1524 12860 SH SOLE 12860 Ishares - Russell 2000 Value COM 464287630 4492 70500 SH SOLE 66100 4400 Jarden Corp. COM 471109108 11081 607535 SH SOLE 604535 3000 211 11570 SH OTHER 04 02 11450 JC Penney Inc. COM 708160106 31264 861505 SH SOLE 860525 980 101 2770 SH OTHER 02 2770 Kaydon Corp. COM 486587108 30967 602345 SH SOLE 599345 3000 481 9352 SH OTHER 04 02 9267 Kinder Morgan Management COM 49455U100 2604 48364 SH SOLE 48364 Kraft Foods Inc. COM 50075N104 240 8426 SH SOLE 8426 Kroger Co. COM 501044101 5774 200000 SH SOLE 200000 Liberty Media Corp Series A COM 53071M104 13286 900165 SH SOLE 900165 Lowes Cos Inc. COM 548661107 10520 507000 SH SOLE 507000 Lubrizol Corp. COM 549271104 13002 280635 SH SOLE 280135 500 139 3000 SH OTHER 02 3000 MacQuarie Infrastructure Co LL COM 55608B105 1495 59115 SH SOLE 59115 Macys Inc. COM 55616P104 8351 430000 SH SOLE 430000 MDS Inc COM 55269P302 29417 1815870 SH SOLE 1806895 8975 542 33455 SH OTHER 04 02 33180 MSC Industrial Direct Co-A COM 553530106 38150 864876 SH SOLE 860526 4350 673 15265 SH OTHER 04 02 15140 MTS Systems Corp COM 553777103 11928 332453 SH SOLE 329403 3050 365 10165 SH OTHER 04 02 10045 Municipal Mtg & Equity LLC Gro COM 62624B101 311 103610 SH SOLE 103610 Oceaneering Intl., Inc. COM 675232102 29855 387480 SH SOLE 384955 2525 533 6920 SH OTHER 04 02 6845 Parker Hannifin Corp. COM 701094104 2794 39171 SH SOLE 39171 Penn Virginia GP Holdings L P* COM 70788P105 2154 65730 SH SOLE 65730 Philip Morris International In COM 718172109 672 13600 SH SOLE 13600 Pool Corp. COM 73278L105 5633 317200 SH SOLE 314300 2900 176 9885 SH OTHER 04 02 9770 Prospect Capital Corp. COM 74348T102 796 60424 SH SOLE 60424 RCN Corp COM 749361200 24767 2297535 SH SOLE 2283270 14265 527 48920 SH OTHER 04 02 48500 Regions Financial Corp. COM 7591EP100 372 34058 SH SOLE 34058 Rush Enterprises Inc Class A COM 781846209 7738 644326 SH SOLE 638601 5725 227 18875 SH OTHER 04 02 18650 Schering Plough Corp. COM 806605101 543 27562 SH SOLE 27562 Scripps E W Co. Class A COM 811054402 4325 104105 SH SOLE 104105 Sears Holdings Corp. COM 812350106 2578 35000 SH SOLE 35000 Shire Limited Sponsored ADR COM 82481R106 14083 286645 SH SOLE 286075 570 129 2620 SH OTHER 02 2620 St. Joe Company COM 790148100 206 6000 SH SOLE 6000 Stewart Enterprises Inc Cl A COM 860370105 24571 3412692 SH SOLE 3387342 25350 614 85235 SH OTHER 04 02 84455 Suntrust Bks Inc COM 867914103 447 12328 SH SOLE 12328 Target Corp. COM 87612E106 13394 288100 SH SOLE 288100 Tesco Corp. COM 88157K101 6063 189755 SH SOLE 187555 2200 236 7375 SH OTHER 04 02 7285 Thermo Fisher Scientific Inc. COM 883556102 28891 518415 SH SOLE 517665 750 341 6120 SH OTHER 02 6120 U Store It Trust * COM 91274F104 854 71475 SH SOLE 71475 Valero Energy COM 91913Y100 247 6000 SH SOLE 6000 Wal Mart Store Inc. COM 931142103 48523 863400 SH SOLE 863400 Walgreen Co. COM 931422109 16157 497000 SH SOLE 497000 Walter Industries Inc. COM 93317Q105 75669 695680 SH SOLE 691855 3825 1493 13730 SH OTHER 04 02 13620 Weatherford International Ltd. COM G95089101 37857 763408 SH SOLE 761708 1700 440 8880 SH OTHER 02 8880 XTO Energy Inc. COM 98385X106 3895 56850 SH SOLE 56850 Amazon.com Corp CNV 023135AF3 2597 2427000 PRN SOLE 2427000 CIT Holdings Inc 7.75% Convert PFD CV 125581405 496 55450 SH SOLE 55450 Royce Value Trust * 780910105 227 14448.000SH SOLE 14448.000