13F-HR/A 1 irm325.txt FORM 13F-HR/A 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, 2003 Check here if Amendment [ x ]; Amendment Number: This Amendment (Check only one.): [ x ] is a restatement. [ ] adds new holdings entries. Institutional investment Manager Filing this Report: Name: Keeley Asset Management Corp. Address: 401 S. LaSalle Street Suite 1201 Chicago, IL 60605 13F File Number: 28-6810 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: John L. Keeley, Jr. Title: President Phone: 312-786-5000 Signature, Place, and Date of Signing: John L. Keeley, Jr., Chicago, IL, March 31, 2003 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT List of other Managers Reporting for this Manager: None I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 191 Form 13F Information Table Value Total: 667,449 List of Other Included Managers: None VALUE SHARES/SH/PUT/ INVSTOTHER VOTING AUTHORITY NAME OF ISSUER TITLECUSIP (X1000) PRN AMTPRNCALL DISCRMANAGER SOLE SHARED NONE Alleghany Energy Inc. COM 017361106 93 15,000 SH SOLE 15,000 Allstate Corp COM 020002101 5,337 160,890SH SOLE 64,390 96,500 American Axl&Mfg Holdings COM 024061103 2,847 135,300SH SOLE 99,800 35,500 Apache Corp COM 037411105 5,842 94,630 SH SOLE 30,440 64,190 Arch Chemicals Inc. COM 03937r102 4,948 264,578SH SOLE 137,760 126,818 Aztar COM 054802103 2,564 190,895SH SOLE 136,920 53,975 BKF Capital Group Inc. COM 05548g102 406 25,000 SH SOLE 25,000 Bank Mutual Corp COM 063748107 253 10,000 SH SOLE 10,000 Becton Dickinson Co. COM 075887109 224 6,500 SH SOLE 6,500 Berkshire Hills Bancorp Inc. COM 084680107 6,164 268,000SH SOLE 218,885 49,115 Blackrock Inc COM 09247x101 651 14,960 SH SOLE 11,760 3,200 Boston Private Financial Hldgs COM 101119105 2,670 178,500SH SOLE 138,500 40,000 Bowne & Co Inc COM 103043105 3,363 336,338SH SOLE 240,980 95,358 Brookline Bancorp Inc COM 11373m107 4,127 329,605SH SOLE 329,605 CFS Bancorp COM 12525d102 5,859 427,368SH SOLE 329,189 98,179 C I T Group COM 125581108 7,402 439,005SH SOLE 226,105 212,900 Cuno Inc COM 126583103 773 23,000 SH SOLE 23,000 Canadian Pacific Limited COM 13645t100 7,227 342,660SH SOLE 173,660 169,000 Capitol Federal Financial COM 14057c106 308 10,275 SH SOLE 10,275 Catellus Developement COM 149111106 11,372 541,536SH SOLE 344,236 197,300 Cendant Corp. COM 151313103 204 16,100 SH SOLE 16,100 Centerpoint Energy Inc Holding COM 15189t107 816 115,800SH SOLE 115,800 Central Parking Corp COM 154785109 971 97,120 SH SOLE 76,485 20,635 Ceridian Corp COM 156779100 3,965 283,625SH SOLE 121,105 162,520 Certegy Inc COM 156880106 2,002 79,462 SH SOLE 59,462 20,000 Charter Financial Corp. COM 16122M100 247 8,165 SH SOLE 8,165 Chemed Corp COM 163596109 6,842 215,890SH SOLE 108,110 107,780 Chesapeake Energy COM 165167107 1,513 192,500SH SOLE 152,000 40,500 Chesterfield Financial Corp COM 166435107 5,495 272,160SH SOLE 248,695 23,465 Chicago Bridge & Iron Company COM 167250109 8,829 543,650SH SOLE 440,880 102,770 Choice Hotels Holding Inc COM 169905106 13,805 566,240SH SOLE 347,440 218,800 Chiquita Brands Intl Wts Exp 3 *W EX170032114 107 32,600 SH SOLE 32,600 Chiquita Brands Int'l Inc. COM 170032809 3,762 342,893SH SOLE 274,820 68,073 Cimarex Energy Co COM 171798101 3,955 203,325SH SOLE 146,245 57,080 Cincinnati Financial COM 172062101 2,469 70,395 SH SOLE 52,525 17,870 Circor Intl Inc COM 17273k109 2,638 194,100SH SOLE 165,305 28,795 Citigroup Inc COM 172967101 558 16,200 SH SOLE 16,200 Citizens Communications COM 17453b101 4,979 498,924SH SOLE 415,129 83,795 Citizens First Bancorp COM 17461r106 4,417 227,700SH SOLE 163,920 63,780 Clarcor Inc. COM 179895107 2,961 81,800 SH SOLE 55,300 26,500 Commercial Metals Co COM 201723103 3,949 283,070SH SOLE 223,520 59,550 Comstock Resources Inc. COM 205768203 4,136 409,525SH SOLE 290,450 119,075 Connecticut Bankshares COM 207540105 893 21,500 SH SOLE 21,500 Conocophillips COM 20825c104 220 4,100 SH SOLE 4,100 Corus Bankshares Inc COM 220873103 200 5,000 SH SOLE 5,000 Cox Communications, Inc. CL A 224044107 1,400 45,000 SH SOLE 45,000 Crane Co. COM 224399105 1,210 69,440 SH SOLE 50,000 19,440 Cypress Semiconductor Corp. COM 232806109 197 28,500 SH SOLE 28,500 Del Monte Foods Co. COM 24522P103 2,273 304,740SH SOLE 219,760 84,980 Delphi Corporation COM 247126105 578 84,590 SH SOLE 84,590 Deltic Timber Corp COM 247850100 4,317 180,615SH SOLE 141,765 38,850 Dial Corp. COM 25247D101 266 13,700 SH SOLE 13,700 Dover Corp. COM 260003108 1,275 52,655 SH SOLE 43,155 9,500 Dover Downs Gaming & Entertain COM 260095104 3,590 363,007SH SOLE 285,672 77,335 Dover Motorsports COM 260174107 1,965 617,895SH SOLE 480,060 137,835 Dun & Bradstreet COM 26483e100 15,713 410,807SH SOLE 256,447 154,360 Encore Acquisition Co. COM 29255w100 923 50,000 SH SOLE 50,000 Energizer Holdings Inc. COM 29266r108 2,492 97,750 SH SOLE 69,400 28,350 Equifax Inc. COM 294429105 5,863 293,320SH SOLE 116,540 176,780 Evergreen Resource Inc. COM 299900308 4,723 104,235SH SOLE 84,685 19,550 FMC Technologies Inc. COM 30249u101 10,662 555,315SH SOLE 352,215 203,100 Fidelity National Financial In COM 316326107 9,681 283,486SH SOLE 141,316 142,170 Financial Inds. Corp. COM 317574101 297 20,575 SH SOLE 20,575 First Niagara Financial COM 33582V108 588 50,000 SH SOLE 50,000 Flowers Foods Inc COM 343498101 16,274 594,160SH SOLE 370,995 223,165 Flowserve Corp. COM 34354p105 612 52,575 SH SOLE 52,575 Fortune Brands COM 349631101 6,718 156,695SH SOLE 73,865 82,830 Friedman Billings Ramsey CL A 358434108 281 31,025 SH SOLE 31,025 Furniture Brands Int'l Inc COM 360921100 3,024 154,595SH SOLE 117,095 37,500 Gardner Denver Inc COM 365558105 1,454 79,000 SH SOLE 49,500 29,500 Gaylord Entmt Co. COM 367905106 3,942 219,635SH SOLE 119,235 100,400 Getty Realty Corporation COM 374297109 1,671 89,000 SH SOLE 89,000 Gray Television CL A 389375205 382 36,000 SH SOLE 36,000 Greenpoint Financial Corp COM 395384100 6,104 136,210SH SOLE 70,310 65,900 Griffon Corp COM 398433102 2,930 227,140SH SOLE 227,140 Hancock John Financial Service COM 41014s106 8,037 289,299SH SOLE 148,899 140,400 Harbor FL Bancshares COM 411901101 3,364 144,010SH SOLE 94,110 49,900 Hartford Financial Svcs Group COM 416515104 4,154 117,710SH SOLE 47,610 70,100 Harvest Natural Resources Inc. COM 41754v103 603 124,000SH SOLE 124,000 Hearst-Argyle Television COM 422317107 4,802 232,115SH SOLE 89,055 143,060 Hudson City Bancorp Inc. COM 443683107 4,645 229,500SH SOLE 173,500 56,000 Hudson River Bancorp Inc COM 444128102 3,704 161,180SH SOLE 154,980 6,200 IHOP Corporation COM 449623107 2,771 122,920SH SOLE 83,920 39,000 ITT Corp. COM 450911102 6,726 125,930SH SOLE 65,800 60,130 Interactive Data Corp COM 45840j107 2,915 208,050SH SOLE 189,550 18,500 IShares Russell 2000 RUSSE464287655 475 6,600 SH SOLE 6,600 IShares Tr Dow Jones US Finl S DJ US464287788 305 4,700 SH SOLE 4,700 Janus Cap Group Inc COM 47102x105 6,677 586,220SH SOLE 267,420 318,800 Jefferies Group Inc. COM 472319102 4,670 129,900SH SOLE 103,700 26,200 Johnson & Johnson COM 478160104 203 3,500 SH SOLE 3,500 Journal Register Co COM 481138105 3,852 252,405SH SOLE 188,305 64,100 Joy Global Inc COM 481165108 3,510 324,144SH SOLE 258,611 65,533 Kansas City Southern Ind Inc COM 485170302 5,635 501,817SH SOLE 410,397 91,420 KB Home COM 48666k109 7,980 175,575SH SOLE 98,575 77,000 Key Energy Service COM 492914106 3,013 298,915SH SOLE 237,715 61,200 Lennar Corp COM 526057104 12,160 227,070SH SOLE 137,570 89,500 Leucadia National Corp COM 527288104 7,907 221,235SH SOLE 100,435 120,800 Liberty Media Corp Ser A SER A530718105 1,226 126,000SH SOLE 126,000 Limited Brands Inc COM 532716107 1,038 80,620 SH SOLE 80,620 Local Financial Corp. COM 539553107 252 17,500 SH SOLE 17,500 Magnum Hunter Res Wts Exp 3/22 *W EX55972f138 21 87,087 SH SOLE 67,163 19,924 Magnum Hunter Res COM 55972f203 3,272 588,570SH SOLE 482,040 106,530 Manitowoc Company Inc. COM 563571108 2,686 159,780SH SOLE 116,080 43,700 Marathon Oil Corp COM 565849106 1,275 53,200 SH SOLE 50,800 2,400 Marriott Intl CL A 571903202 5,503 172,990SH SOLE 74,310 98,680 Martin Marietta Mater COM 573284106 3,562 129,005SH SOLE 59,815 69,190 Masco Corp. COM 574599106 4,119 221,187SH SOLE 119,187 102,000 Media General Inc COM 584404107 6,568 133,395SH SOLE 66,445 66,950 Meredith Corp. COM 589433101 7,483 196,000SH SOLE 101,600 94,400 Merrill Lynch & Co. COM 590188108 283 8,000 SH SOLE 8,000 Methode Electrs CL A 591520200 5,084 627,671SH SOLE 504,111 123,560 MetLife Inc COM 59156r108 6,186 234,505SH SOLE 97,605 136,900 Mony Group Inc. COM 615337102 7,484 358,074SH SOLE 205,650 152,424 Moody Corp COM 615369105 8,933 193,240SH SOLE 91,140 102,100 Moog Inc. CL A 615394202 1,484 48,497 SH SOLE 34,000 14,497 Moog Inc. CL B 615394301 574 18,000 SH SOLE 18,000 Moore Corp. COM 615785102 4,899 467,870SH SOLE 371,510 96,360 Myers Inds. Inc. COM 628464109 1,547 162,000SH SOLE 102,000 60,000 Neiman Marcus Group CL B 640204301 2,781 103,405SH SOLE 75,985 27,420 New York Times CL A 650111107 742 17,185 SH SOLE 14,785 2,400 Occidental Petroleum COM 674599105 3,587 119,730SH SOLE 90,280 29,450 OceanFirst Financial Corp COM 675234108 766 36,000 SH SOLE 36,000 Old Republic Intl COM 680223104 11,228 419,729SH SOLE 234,109 185,620 Pactiv Corporation COM 695257105 5,343 263,195SH SOLE 103,195 160,000 Partners Trust Financial Group COM 70213a103 5,545 326,200SH SOLE 275,855 50,345 Pepsi Bottling Group Inc. COM 713409100 4,784 266,820SH SOLE 113,820 153,000 PepsiAmericas Inc COM 71343p200 1,369 116,420SH SOLE 83,000 33,420 Pepsico Inc COM 713448108 5,240 131,010SH SOLE 46,700 84,310 Pfizer Inc. COM 717081103 212 6,800 SH SOLE 6,800 Plains Expl & Prod Co COM 726505100 3,862 468,175SH SOLE 366,175 102,000 Prima Energy Corp. COM 741901201 581 31,000 SH SOLE 31,000 Private Bancorp Inc. COM 742962103 723 31,500 SH SOLE 31,500 Principal Financial Group Inc. COM 74251v102 7,274 268,005SH SOLE 131,805 136,200 Providence & Worcester RR COM 743737108 1,674 251,295SH SOLE 177,595 73,700 Provident Finl Holding Inc COM 743868101 1,133 39,950 SH SOLE 39,950 Provident Financial Services COM 74386t105 11,042 698,395SH SOLE 417,440 280,955 Prudential Financial Inc. COM 744320102 6,379 218,070SH SOLE 109,110 108,960 Pulitzer Pubg Co COM 745769109 4,419 101,430SH SOLE 75,830 25,600 R & G Finl Corp Cl B COM 749136107 275 12,500 SH SOLE 12,500 RH Donnelly Corp. COM 74955w307 6,769 228,054SH SOLE 179,409 48,645 RPM International Inc. COM 749685103 1,345 128,080SH SOLE 120,080 8,000 Ralcorp Holdings Inc COM 751028101 7,633 293,110SH SOLE 248,415 44,695 Regal Beloit Corp. COM 758750103 778 50,831 SH SOLE 27,800 23,031 Regional Bk Holders Trust COM 75902e100 475 5,000 SH SOLE 5,000 Rockwell Automation Corp. COM 773903109 7,197 347,705SH SOLE 153,545 194,160 Roslyn Bancorp COM 778162107 3,875 215,500SH SOLE 215,500 Ryder Systems COM 783549108 1,661 81,000 SH SOLE 60,000 21,000 SPDR Trust Ser 1 Unit COM 78462f103 678 8,000 SH SOLE 8,000 St. Joe Corp. COM 790148100 7,235 265,985SH SOLE 151,735 114,250 Sara Lee Corp COM 803111103 5,872 314,025SH SOLE 131,685 182,340 Sauer Danfoss Inc. COM 804137107 1,274 160,418SH SOLE 119,450 40,968 ServiceMaster Co COM 81760n109 182 18,200 SH SOLE 18,200 Smucker JM Co. COM 832696405 8,953 256,026SH SOLE 131,005 125,021 Stancorp Financial Corp COM 852891100 4,271 82,850 SH SOLE 76,850 6,000 Steak N Shake COM 857873103 1,691 185,000SH SOLE 109,500 75,500 Sybron Dental Specialties Inc. COM 871142105 10,894 624,270SH SOLE 373,385 250,885 Terex Corp. COM 880779103 2,165 175,170SH SOLE 175,170 Tesoro Petroleum COM 881609101 222 30,000 SH SOLE 30,000 Texas Genco Holdings Inc COM 882443104 1,271 73,093 SH SOLE 65,903 7,190 Textron COM 883203101 3,407 124,070SH SOLE 56,570 67,500 Thomas & Betts Corp. COM 884315102 1,794 126,503SH SOLE 77,990 48,513 Thomas Indust COM 884425109 3,546 143,000SH SOLE 143,000 Tierone Corporation COM 88650r108 5,029 305,705SH SOLE 247,505 58,200 Timken Co. COM 887389104 3,647 233,468SH SOLE 184,765 48,703 Travelers Ppty Casualty CP CL A 89420g109 183 13,000 SH SOLE 13,000 Triarc Co. Inc. CL A 895927101 5,523 198,330SH SOLE 155,970 42,360 Tupperware Corp COM 899896104 2,589 187,314SH SOLE 145,314 42,000 Tyco Intl Inc. COM 902124106 193 15,000 SH SOLE 15,000 Tyler Corp COM 902252105 573 162,205SH SOLE 162,205 Union Pacific Corp COM 907818108 5,480 99,635 SH SOLE 45,235 54,400 Unionbancal Corp COM 908906100 296 7,500 SH SOLE 7,500 United Financial Corp COM 909919102 290 12,100 SH SOLE 12,100 Unitrin Inc COM 913275103 7,860 339,253SH SOLE 198,110 141,143 Veritas DGC Inc. COM 92343p107 592 89,000 SH SOLE 89,000 Viacom Inc CL B 925524308 5,129 140,436SH SOLE 53,996 86,440 Viad Corp COM 92552R109 1,334 62,200 SH SOLE 62,200 Wabtec COM 929740108 2,424 208,822SH SOLE 200,422 8,400 Waddell & Reed Fin CL A 930059100 8,371 476,425SH SOLE 257,125 219,300 Wal Mart Stores COM 931142103 323 6,200 SH SOLE 6,200 Walter Industries COM 93317Q105 5,231 599,900SH SOLE 336,100 263,800 Washington Mutual Inc. COM 939322103 239 6,775 SH SOLE 6,775 Water Pik Technologies Inc. COM 94113u100 2,828 404,035SH SOLE 338,515 65,520 Watts Industries Inc. COM 942749102 1,260 80,890 SH SOLE 74,090 6,800 Waypoint Financial COM 946756103 3,675 212,535SH SOLE 172,235 40,300 Westar Energy Inc COM 95709t100 1,845 152,200SH SOLE 107,500 44,700 Westwood Hldg Group COM 961765104 527 39,000 SH SOLE 39,000 Willbros Group Inc COM 969199108 214 24,505 SH SOLE 24,505 Wintrust Financial Corp COM 97650W108 629 22,000 SH SOLE 22,000 Zale Corp COM 988858106 2,957 90,305 SH SOLE 69,305 21,000 China Luchai Intl. Ltd. COM g21082105 395 55,700 SH SOLE 55,700 WP Stewart & Co. Ltd. COM g84922106 315 18,511 SH SOLE 18,511