13F-HR 1 form13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 3/31/2010 Check here if Amendment []; Amendment Number: ------- This Amendment (Check only one.): [] 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 Form 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. Persons 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: /s/ John L. Keeley, Jr. Chicago, IL 5/12/2010 --------------------------------- --------------------------------- ---------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 337 Form 13F Information Table Value Total: $ 6,621,869 -------------- (In Thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE
FORM 13F INFORMATION TABLE 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 MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- ----------- ---- ------ ------ ABERDEEN ASIA PAC INCM COM COM 3009107 117 18000 SH SOLE 18000 0 0 0 ADTRAN, Inc. COM 00738a106 231 8780 SH SOLE 8780 0 0 0 AECOM Technology COM 00766t100 44203 1558075 SH SOLE 1558075 0 0 0 AMCOL International Corp COM 02341W103 44306 1628900 SH SOLE 1628900 0 0 0 Aaron's Inc. COM 2535300 215 7910 SH SOLE 7910 0 0 0 Ace Ltd. COM H0023r105 1437 27480 SH SOLE 27480 0 0 0 Acuity Brands Inc COM 00508y102 75993 1800359 SH SOLE 1749329 0 0 51030 Advance Auto Parts, Inc. COM 00751y106 2021 48200 SH SOLE 48200 0 0 0 Agilent Technologies COM 00846u101 241 7000 SH SOLE 7000 0 0 0 Alleghany Energy COM 17361106 1443 62760 SH SOLE 53760 0 0 9000 Allete Inc COM 18522300 13473 402415 SH SOLE 388685 0 0 13730 Alpha Natural Resource COM 02076x102 31306 627503 SH SOLE 627503 0 0 0 Amerco COM 23586100 35579 655360 SH SOLE 636060 0 0 19300 American Water Works Co., Inc. COM 30420103 17144 787880 SH SOLE 786440 0 0 1440 Ameriprise Financial COM 03076c106 5505 121373 SH SOLE 115373 0 0 6000 AmerisourceBergen Corp COM 03073e105 79077 2734340 SH SOLE 2683640 0 0 50700 Ametek COM 31100100 639 15410 SH SOLE 15410 0 0 0 Ampco Pittsburgh COM 32037103 24820 1000000 SH SOLE 1000000 0 0 0 Annaly Mtg Mgmt COM 35710409 289 16800 SH SOLE 16800 0 0 0 Aptargroup COM 38336103 4280 108760 SH SOLE 108760 0 0 0 Aqua America Inc COM 03836w103 205 11690 SH SOLE 11690 0 0 0 Arbitron, Inc. COM 03875q108 277 10400 SH SOLE 10400 0 0 0 Arch Chemicals Inc. COM 03937r102 50446 1466879 SH SOLE 1455919 0 0 10960 Arthur J. Gallagher & Co. COM 363576109 19244 783865 SH SOLE 734415 0 0 49450 Artio Global Investors, Inc. COM 04315b107 1917 77500 SH SOLE 77500 0 0 0 Aland Inc. COM 44209104 74629 1414232 SH SOLE 1407632 0 0 6600 Assured Guaranty Ltd. COM g0585r106 206 9365 SH SOLE 9365 0 0 0 Azz Incorporated COM 2474104 33681 995000 SH SOLE 995000 0 0 0 BOARDWALK PIPELIN PTNR UT LTD COM 96627104 222 7450.231 SH SOLE 7450.231 0 0 0 BOISE INC COM COM 09746y105 61 10000 SH SOLE 10000 0 0 0 BOK Financial Corp COM 05561q201 1311 25000 SH SOLE 25000 0 0 0 BP Amoco Plc ADR COM 55622104 631 11058 SH SOLE 11058 0 0 0 BancorpSouth, Inc. COM 59692103 2210 105440 SH SOLE 105440 0 0 0 Bank of America COM 60505104 2918 163500 SH SOLE 163500 0 0 0 Bank of Nova Scotia Halifax COM 64149107 607 12130 SH SOLE 12130 0 0 0 BankFinancial Corp COM 06643p104 12194 1329778.693 SH SOLE 1258238.693 0 0 71540 Barclays Bk Plc IPath Index COM 06738c778 506 12700 SH SOLE 12700 0 0 0 Beacon Federal Bancorp, Inc. COM 73582108 264 30000 SH SOLE 30000 0 0 0 Belo Corporation COM 80555105 1883 276060 SH SOLE 270060 0 0 6000 Bemis Company Inc COM 81437105 16183 563480 SH SOLE 559780 0 0 3700 Beneficial Mut Bancorp Inc. COM 08173r104 15130 1595985 SH SOLE 1566765 0 0 29220 Berry Petroleum Co. COM 85789105 8564 304110 SH SOLE 304110 0 0 0 Brinks Co COM 109696104 446 15785 SH SOLE 14785 0 0 1000 Broadridge Fincl Sol COM 11133t103 59026 2760785 SH SOLE 2686335 0 0 74450 Brookline Bancorp Inc COM 11373m107 11294 1061470 SH SOLE 1061470 0 0 0 Bru Engineered Matl COM 117421107 27084 1200000 SH SOLE 1200000 0 0 0 Bucyrus International COM 118759109 114442 1734236 SH SOLE 1688386 0 0 45850 C I T Group COM 125581801 7649 196320 SH SOLE 196320 0 0 0 CME Group, Inc. COM 12572q105 3411 10789 SH SOLE 10789 0 0 0 Cal-Maine Foods, Inc. COM 128030202 1311 38620 SH SOLE 37560 0 0 1060 Calpine Corporation COM 131347304 2167 182260 SH SOLE 182260 0 0 0 Canadian Pacific COM 13645t100 582 10350 SH SOLE 10350 0 0 0 Carbo Ceramics, Inc. COM 140781105 209 3360 SH SOLE 3360 0 0 0 Cardinal Health Inc. COM 14149Y108 3783 105000 SH SOLE 105000 0 0 0 CareFusion Corp. COM 14170T101 15464 585100 SH SOLE 585100 0 0 0 Carmike Cinemas Inc New COM 143436400 9234 665742 SH SOLE 665742 0 0 0 Carrizo Oil & Gas Inc COM 144577103 26393 1150000 SH SOLE 1150000 0 0 0 Caseys Gen Stores Inc COM 147528103 214 6822 SH SOLE 6822 0 0 0 Ca America Intl. Inc. COM 14754d100 282 7150 SH SOLE 7150 0 0 0 Cellu Tissue Holdings, Inc. COM 151169109 2026 203000 SH SOLE 203000 0 0 0
FORM 13F INFORMATION TABLE 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 MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- ----------- ---- ------ ------ Century Aluminum Co COM 156431108 1376 100000 SH SOLE 100000 0 0 0 Chicago Bridge & Iron COM 167250109 67266 2891926.133 SH SOLE 2793826.133 0 0 98100 Circor Intl Inc COM 17273k109 49688 1496172.248 SH SOLE 1458462.248 0 0 37710 Citigroup Inc COM 172967101 3258 804500 SH SOLE 804500 0 0 0 Citizens First Bancorp COM 17461r106 3 17269 SH SOLE 17269 0 0 0 Clearwater Paper Corp. COM 18538r103 24733 502190 SH SOLE 502190 0 0 0 Cleco Corp. COM 12561w105 2499 94120 SH SOLE 78970 0 0 15150 Cliffs Natural Resources Inc COM 18683k101 1298 18300 SH SOLE 18300 0 0 0 Cohen & Steers, Inc. COM 19247a100 1685 67500 SH SOLE 67500 0 0 0 Colfax Corporation COM 194014106 35548 3020200 SH SOLE 2978200 0 0 42000 Communications Systems, Inc. COM 203900105 156 12030 SH SOLE 12030 0 0 0 Compass Minerals Intl. Inc. COM 20451n101 12575 156741 SH SOLE 151841 0 0 4900 Comstock Resources COM 205768203 57579 1810676 SH SOLE 1766786 0 0 43890 Conseco Inc COM 208464883 4292 690000.98 SH SOLE 690000.98 0 0 0 Consol Energy Inc. COM 20854P109 3318 77780 SH SOLE 77060 0 0 720 Contango Oil and Gas Co. COM 21075n204 35345 691000 SH SOLE 691000 0 0 0 Continental Resources Inc. COM 212015101 27589 648400 SH SOLE 648400 0 0 0 Covanta Holding Corp. COM 2282e102 42251 2536089 SH SOLE 2439296 0 0 96793 Covidien Ltd. COM g2554f105 3530 70210 SH SOLE 70210 0 0 0 DIREXION S ETF TR DLY SMCAP COM 25459w847 1365 25000 SH SOLE 25000 0 0 0 DR Horton Inc COM 23331A109 27844 2209880 SH SOLE 2209880 0 0 0 Danvers Bancorp Inc. COM 236442109 8165 590380 SH SOLE 590380 0 0 0 Deltic Timber Corp COM 247850100 39536 897515.835 SH SOLE 870070.835 0 0 27445 Denny's Corporation COM 24869p104 33039 8581590 SH SOLE 8538040 0 0 43550 Dentsply International, Inc. COM 249030107 1837 52660 SH SOLE 52660 0 0 0 Dillard Inc. COM 254067101 8906 377360 SH SOLE 369360 0 0 8000 DineEquity Inc. COM 254423106 51620 1305847 SH SOLE 1275607 0 0 30240 Discover Financial Svc COM 254709108 2294 153940 SH SOLE 153940 0 0 0 Dollar Tree Stores Inc COM 256746108 2083 35170 SH SOLE 35170 0 0 0 Dr Pepper Snapple Group COM 26138e109 57145 1624810 SH SOLE 1607810 0 0 17000 Dresser Rand Group Inc COM 261608103 34101 1085325 SH SOLE 1085325 0 0 0 Dril Quip Inc. COM 262037104 27901 458600 SH SOLE 438400 0 0 20200 Duff & Phelps COM 26433b107 2201 131460 SH SOLE 131460 0 0 0 ESSA BANCORP INC COM COM 29667d104 263 21000 SH SOLE 21000 0 0 0 EYI Inds Inc COM 26928r104 0 10000 SH SOLE 10000 0 0 0 Eastern Insurance Inc. COM 276534104 304 30000 SH SOLE 30000 0 0 0 Emeritus Corp COM 291005106 8751 430000 SH SOLE 430000 0 0 0 EnCana Corp. COM 292505104 1902 61280 SH SOLE 61280 0 0 0 Enpro Industries Inc. COM 29355x107 53178 1828675 SH SOLE 1765125 0 0 63550 Epoch Hldg Corp COM 29428r103 31460 2786510 SH SOLE 2612510 0 0 174000 Everest RE Group COM G3223R108 283 3500 SH SOLE 3500 0 0 0 Exco Resources Inc. COM 269279402 76366 4154858 SH SOLE 4084378 0 0 70480 Express Scripts Inc. COM 302182100 349 3430 SH SOLE 3430 0 0 0 Exterran Holdings, Inc. COM 30225x103 29601 1224710 SH SOLE 1210410 0 0 14300 FMC Corp. COM 302491303 7001 115650 SH SOLE 115650 0 0 0 FMC Technologies COM 30249u101 11487 177730 SH SOLE 158230 0 0 19500 Federal Signal Corp. COM 313855108 27053 3002500 SH SOLE 3002500 0 0 0 Fidelity National Info COM 31620m106 8693 370850 SH SOLE 319923 0 0 50927 Fidelity Natl Finl Inc COM 31620r105 1533 103448 SH SOLE 100448 0 0 3000 First American Financial COM 318522307 20631 609670 SH SOLE 581340 0 0 28330 First Niagara Financial COM 33582v108 43825 3079747 SH SOLE 3039597 0 0 40150 FirstMerit Corp. COM 337915102 20451 948323 SH SOLE 912159 0 0 36164 Flowers Foods Inc COM 343498101 64926 2624314.742 SH SOLE 2535437.742 0 0 88877 Flowserve Corp. COM 34354p105 84542 766680 SH SOLE 750610 0 0 16070 Foot Locker, Inc. COM 344849104 1152 76610 SH SOLE 76610 0 0 0 Forestar Group, Inc. COM 346233109 45449 2407234 SH SOLE 2325023 0 0 82211 Foster L B Co. COM 350060109 44235 1531149 SH SOLE 1476759 0 0 54390 Foster Wheeler AG COM H27178104 56676 2088288 SH SOLE 2032948 0 0 55340 GAMCO Invs Inc COM 361438104 16972 373000 SH SOLE 373000 0 0 0 GP Strategies Corp. COM 36225v104 5330 637500 SH SOLE 637500 0 0 0
FORM 13F INFORMATION TABLE 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 MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- ----------- ---- ------ ------ GS FINL CORP COM COM 362274102 186 13841 SH SOLE 13841 0 0 0 Gardner Denver Inc COM 365558105 48061 1091300 SH SOLE 1067500 0 0 23800 Gaylord Entmt Co. COM 367905106 63931 2182680 SH SOLE 2172130 0 0 10550 General Cable Corp. COM 369300108 22815 845000 SH SOLE 845000 0 0 0 Genesee & Wyoming COM 371559105 71245 2088080 SH SOLE 2031380 0 0 56700 Genworth Financial COM 37247d106 4462 243280 SH SOLE 243280 0 0 0 Glacier Bancorp Inc COM 37637q105 2721 178640 SH SOLE 178640 0 0 0 Goldman Sachs Group Inc. COM 38141G104 427 2500 SH SOLE 2500 0 0 0 Granite Construction Inc COM 387328107 35720 1182000 SH SOLE 1182000 0 0 0 Greenbrier Cos Inc COM 393657101 22016 1999650 SH SOLE 1999650 0 0 0 Greenhill & Co Inc. COM 395259104 31930 388960 SH SOLE 388960 0 0 0 HCC Insurance Holdings COM 404132102 54408 1971290 SH SOLE 1951690 0 0 19600 Halliburton Co COM 406216101 3675 121970 SH SOLE 121970 0 0 0 Hanesbrands Inc COM 410345102 28155 1012050 SH SOLE 992410 0 0 19640 Hanover Ins Group Inc COM 410867105 70300 1612020 SH SOLE 1595480 0 0 16540 Harsco Corp COM 415864107 4420 138395 SH SOLE 110595 0 0 27800 Haynes Intl Inc. COM 420877201 26914 757500 SH SOLE 757500 0 0 0 Heckmann Corp. COM 422680108 580 100000 SH SOLE 100000 0 0 0 Henry Jack & Assoc. Inc. COM 426281101 675 28070 SH SOLE 28070 0 0 0 Henry Schein Inc. COM 806407102 4621 78460 SH SOLE 77560 0 0 900 Hill-Rom Holdings Inc COM 431475102 86284 3171038 SH SOLE 3086158 0 0 84880 HomeFederal Bancorp COM 43710G105 21267 1465677 SH SOLE 1432332 0 0 33345 Honeywell COM 438516106 389 8600 SH SOLE 2200 0 0 6400 IBM COM 459200101 217 1690 SH SOLE 1690 0 0 0 IARES INC MSCI BRAZIL COM 464286400 371 5036.717 SH SOLE 5036.717 0 0 0 IARES TR BARCLYS 1-3YR CR COM 464288646 251 2400 SH SOLE 2400 0 0 0 Iares Barclays TIPS Bond Fun COM 464287176 218 2100 SH SOLE 2100 0 0 0 Iares Inc MSCI Australia Ind COM 464286103 242 10090 SH SOLE 10090 0 0 0 Iares Inc MSCI Canada Index COM 464286509 507 18147.675 SH SOLE 18147.675 0 0 0 Iares TR FTSE Xinhua HK Chin COM 464287184 314 7457.002 SH SOLE 7457.002 0 0 0 ITC Holdings Corp COM 465685105 77877 1415950 SH SOLE 1381740 0 0 34210 ITT Corp. COM 450911102 6074 113305 SH SOLE 108305 0 0 5000 Iberiabank Corp. COM 450828108 63537 1058770 SH SOLE 1045360 0 0 13410 Idex Corp COM 45167r104 960 29000 SH SOLE 29000 0 0 0 Ingersoll Rand COM G47791101 2649 75960 SH SOLE 69960 0 0 6000 Integrys Energy Group Inc COM 45822P105 5425 114510 SH SOLE 106510 0 0 8000 Intercontinental Exchange COM 45865v100 280 2500 SH SOLE 2500 0 0 0 Intuit Inc. COM 461202103 721 21000 SH SOLE 21000 0 0 0 Invesco Ltd. COM G491BT108 34037 1553480 SH SOLE 1553480 0 0 0 Investment Technology COM 46145f105 24045 1440682 SH SOLE 1429764 0 0 10918 Iares Tr Russell 2000 Value COM 464287630 319 5000 SH SOLE 5000 0 0 0 Itau Unibanco Banco Multiplo S COM 465562106 352 16000 SH SOLE 16000 0 0 0 JP Morgan Chase & Co COM 46625h100 559 12490 SH SOLE 12490 0 0 0 JP Morgan Chase Warrants exp 1 COM 46634e114 2977 193700 SH SOLE 193700 0 0 0 Janus Cap Group Inc COM 47102x105 515 36070 SH SOLE 32970 0 0 3100 Jarden Corporation COM 471109108 799 24000 SH SOLE 24000 0 0 0 Jefferies Group Inc. COM 472319102 23960 1012260 SH SOLE 983010 0 0 29250 John Bean Tech, Corp. COM 477839104 28215 1608633 SH SOLE 1529921 0 0 78712 Joy Global Inc COM 481165108 76972 1360176.335 SH SOLE 1316779.335 0 0 43397 KBR Inc. COM 48242w106 5037 227280 SH SOLE 225280 0 0 2000 Kaiser Aluminum Corp New COM 483007704 50002 1296387 SH SOLE 1286747 0 0 9640 Kaman Corp COM 483548103 27663 1106060 SH SOLE 1106060 0 0 0 Kansas City Southern COM 485170302 84306 2330822 SH SOLE 2259122 0 0 71700 Kaydon Corp. COM 486587108 44406 1181000 SH SOLE 1181000 0 0 0 Kinder Morgan Energy Partners COM 494550106 303 4630 SH SOLE 4630 0 0 0 Knight Capital Group, Inc. COM 499005106 153 10000 SH SOLE 10000 0 0 0 Koppers Holdings Inc. COM 50060p106 41988 1482620 SH SOLE 1482620 0 0 0 Ladi Co Inc COM 505754200 19051 945000 SH SOLE 945000 0 0 0 Lance Inc. COM 514606102 27929 1207500 SH SOLE 1207500 0 0 0 Layne Christensen Company COM 521050104 38997 1460000 SH SOLE 1460000 0 0 0
FORM 13F INFORMATION TABLE 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 MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- ----------- ---- ------ ------ Lazard Ltd. COM g54050102 3877 108600 SH SOLE 108600 0 0 0 Legacy Bancorp Inc Cl A COM 52463g105 159 16800 SH SOLE 16800 0 0 0 Legg Mason, Inc. COM 524901105 34578 1206080 SH SOLE 1197480 0 0 8600 Lender Processing Services COM 52602e102 6687 177143 SH SOLE 173820 0 0 3323 Leucadia National COM 527288104 5576 224740 SH SOLE 196640 0 0 28100 Lufkin Inds. Inc COM 549764108 48018 606670 SH SOLE 606670 0 0 0 MB Financial Inc COM 55264u108 37205 1651344 SH SOLE 1606884 0 0 44460 MGM Mirage COM 552953101 7196 599690 SH SOLE 599690 0 0 0 Mac-Gray Corp COM 554153106 6972 617500 SH SOLE 617500 0 0 0 Madison Square Garden Inc COM 55826p100 13196 607250 SH SOLE 582450 0 0 24800 Magnetek Inc. COM 559424106 101 60200 SH SOLE 60200 0 0 0 Maidenform Brands Inc COM 560305104 49927 2285000 SH SOLE 2285000 0 0 0 Manitowoc Company Inc. COM 563571108 4737 364400 SH SOLE 364400 0 0 0 Marcus Corp. COM 566330106 28480 2192450 SH SOLE 2192450 0 0 0 Marketaxess Hldgs Inc COM 57060d108 24287 1544000 SH SOLE 1544000 0 0 0 Martin Marietta Matererials In COM 573284106 5936 71042 SH SOLE 67842 0 0 3200 McDermott International COM 580037109 62950 2338410 SH SOLE 2269350 0 0 69060 Meadowbrook Insurance Group COM 58319p108 11284 1428390 SH SOLE 1428390 0 0 0 Medical Properties Trust, Inc. COM 58463j304 147 14050 SH SOLE 14050 0 0 0 MetLife Inc COM 59156r108 325 7500 SH SOLE 7500 0 0 0 Midas Inc. COM 595626102 17202 1525000 SH SOLE 1525000 0 0 0 Mueller Water COM 624758108 28151 5889390 SH SOLE 5811078 0 0 78312 NBTY, Inc. COM 628782104 33748 703380 SH SOLE 678480 0 0 24900 NCR Corp COM 62886e108 20624 1494500 SH SOLE 1494500 0 0 0 National Fuel & Gas Co COM 636180101 4782 94600 SH SOLE 94600 0 0 0 National Presto Industries, In COM 637215104 1308 11000 SH SOLE 11000 0 0 0 Natural Gas Services Grp Inc. COM 63886q109 26781 1687500 SH SOLE 1687500 0 0 0 Neenah Paper COM 640079109 21273 1343000 SH SOLE 1343000 0 0 0 NewAlliance Bancares Inc COM 650203102 51253 4061271 SH SOLE 4001341 0 0 59930 Newell Rubbermaid COM 651229106 214 14100 SH SOLE 14100 0 0 0 Nordic American Tanker COM g65773106 262 8650 SH SOLE 8650 0 0 0 Northern Trust Corp. COM 665859104 339 6140 SH SOLE 6140 0 0 0 Northwest Bancares, Inc. COM 667340103 1550 132110 SH SOLE 132110 0 0 0 Northwestern Corporation COM 668074305 224 8340 SH SOLE 8340 0 0 0 OBA Financial Services Inc. COM 67424g101 269 24984 SH SOLE 24984 0 0 0 Orchids Paper Products Company COM 68572n104 2517 153000 SH SOLE 153000 0 0 0 Orient Express Hotels COM g67743107 33697 2376385 SH SOLE 2336535 0 0 39850 Otter Tail Corp. COM 689648103 2383 108500 SH SOLE 106000 0 0 2500 PHH Corp. COM 693320202 38185 1620050 SH SOLE 1620050 0 0 0 PIMCO MUNICIPAL INC FD COM COM 72200R107 139 10237 SH SOLE 10237 0 0 0 POWERARES GLB ETF FD S&P 500 COM 73936g308 390 18027.981 SH SOLE 18027.981 0 0 0 PROARES TR PS ULT 20YRS COM 74347r297 779 16000 SH SOLE 16000 0 0 0 PROARES TR ULTRAORT QQQ COM 74347r875 251 15000 SH SOLE 15000 0 0 0 PROARES TR ULTRAT SP500 COM 74347r883 3099 100000 SH SOLE 100000 0 0 0 Partnerre Ltd COM g6852t105 19897 249590 SH SOLE 249590 0 0 0 Patterson Companies Inc. COM 703395103 41929 1350374 SH SOLE 1308874 0 0 41500 Peabody Energy Corp COM 704549104 1617 35380 SH SOLE 35380 0 0 0 Penn Millers Holding Corp. COM 707561106 267 22000 SH SOLE 22000 0 0 0 Perrigo Company COM 714290103 58967 1004200 SH SOLE 974600 0 0 29600 Petrohawk Energy COM 716495106 63841 3147960 SH SOLE 3060510 0 0 87450 Petsmart, Inc. COM 716768106 35457 1109410 SH SOLE 1087710 0 0 21700 Pharmamerica Corp. COM 71714f104 44658 2451050 SH SOLE 2423450 0 0 27600 Pioneer Natural Resources COM 723787107 1173 20830 SH SOLE 16130 0 0 4700 Piper Jaffray Inc COM 724078100 22568 560000 SH SOLE 560000 0 0 0 Plains All American Pipeline L COM 726503105 262 4600 SH SOLE 4600 0 0 0 Plains Expl & Prod Co COM 726505100 5715 190580 SH SOLE 168180 0 0 22400 Portland General Electric Co. COM 736508847 2032 105250 SH SOLE 105250 0 0 0 Powerares DB Agriculture COM 73936b408 484 20000 SH SOLE 20000 0 0 0 Prestige Brands Holdings Inc. COM 74112d101 360 40000 SH SOLE 40000 0 0 0 Proares Ultraort QQQ COM 74347r875 688 41100 SH SOLE 41100 0 0 0
FORM 13F INFORMATION TABLE 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 MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- ----------- ---- ------ ------ Protective Life Corp. COM 743674103 405 18440 SH SOLE 18440 0 0 0 Providence & Worcester RR COM 743737108 4189 364275 SH SOLE 339175 0 0 25100 Provident Financial COM 74386t105 16422 1380000 SH SOLE 1380000 0 0 0 Pulte Group Inc. COM 745867101 32789 2914554 SH SOLE 2760954 0 0 153600 Pzena Investment Management COM 74731q103 5715 749000 SH SOLE 749000 0 0 0 Quanex Corp. COM 747619104 33060 2000000 SH SOLE 2000000 0 0 0 Quanta Services Inc COM 74762e102 35517 1853700 SH SOLE 1853700 0 0 0 Questar Corp COM 748356102 2437 56410 SH SOLE 56410 0 0 0 RBC Bearings Inc. COM 75524b104 43538 1366100 SH SOLE 1357500 0 0 8600 RG Barry Corp COM 68798107 157 15390 SH SOLE 15390 0 0 0 RSC HOLDINGS INC COM COM 74972l102 557 70000 SH SOLE 70000 0 0 0 RailAmerica Inc. COM 750753402 9685 820800 SH SOLE 732000 0 0 88800 Ralcorp Holdings Inc COM 751028101 68347 1008371 SH SOLE 989451 0 0 18920 Range Resources Corp. COM 75281a109 48114 1026550 SH SOLE 1011950 0 0 14600 Regal Beloit Corp. COM 758750103 52164 878040 SH SOLE 873540 0 0 4500 Reinsurance Group of America COM 759351604 41810 796080 SH SOLE 796080 0 0 0 Resolute Energy Corp. COM 76116A108 727 60000 SH SOLE 60000 0 0 0 Robbins & Myers Inc COM 770196103 36921 1550000 SH SOLE 1550000 0 0 0 Rydex ETF Tr COM 78355w106 298 7000 SH SOLE 7000 0 0 0 SPDR KBW Regional Bank ETF COM 78464a698 21520 820752 SH SOLE 774082 0 0 46670 SPDR SERIES TRUST S&P HOMEBUIL COM 78464a888 185 11000 SH SOLE 11000 0 0 0 SPDR Trust Ser 1 Unit COM 78462f103 33018 282202.029 SH SOLE 282202.029 0 0 0 SWS Group Inc. COM 78503n107 16135 1399410 SH SOLE 1399410 0 0 0 Safeguard Scientifics Inc. COM 786449207 650 50000 SH SOLE 50000 0 0 0 Saks Holdings Inc COM 79377W108 20112 2338590 SH SOLE 2338590 0 0 0 Sally Beauty Holdings Inc COM 79546e104 45891 5144708 SH SOLE 5111728 0 0 32980 Scotts Co COM 810186106 281 6060 SH SOLE 6060 0 0 0 Sector SPDR Tr SBI Int - Tech COM 81369y803 375 16250 SH SOLE 16250 0 0 0 Sector Sdpr Tr s Ben Int Ene COM 81369y506 331 5750 SH SOLE 5750 0 0 0 aw Group Inc COM 820280105 43804 1272620 SH SOLE 1272620 0 0 0 Smucker JM Co. COM 832696405 32916 546235 SH SOLE 544235 0 0 2000 Snap On Inc COM 833034101 5270 121605 SH SOLE 121605 0 0 0 Solutia Inc. COM 834376501 1899 117890 SH SOLE 113360 0 0 4530 South Jersey Inds Inc. COM 838518108 18051 429895 SH SOLE 429895 0 0 0 St. Joe Corp. COM 790148100 1629 50370 SH SOLE 39820 0 0 10550 Stage Stores Inc COM 85254c305 16261 1056590 SH SOLE 1052390 0 0 4200 Standard Parking Corp COM 853790103 10903 664000 SH SOLE 664000 0 0 0 Stewart Information Svcs Corp COM 860372101 869 63000 SH SOLE 63000 0 0 0 Stifel Financial Corp. COM 860630102 2161 40200 SH SOLE 40200 0 0 0 Streettracks Ser Tr KBW Cap COM 78464a771 335 9000 SH SOLE 9000 0 0 0 Sun Hydraulics Corporation COM 866942105 24941 960000 SH SOLE 960000 0 0 0 Suntrust Banks Inc COM 867914103 1740 64950 SH SOLE 59550 0 0 5400 Teledyne COM 879360105 36549 885600 SH SOLE 885600 0 0 0 Temple-Inland, Inc. COM 879868107 4540 222200 SH SOLE 222200 0 0 0 Tennant Co COM 880345103 51732 1888702 SH SOLE 1840632 0 0 48070 Teradata Corp. COM 88076W103 21783 753990 SH SOLE 740790 0 0 13200 Terex Corp. COM 880779103 32022 1410050 SH SOLE 1396050 0 0 14000 Territorial Bancorp, Inc. COM 88145x108 4003 210375 SH SOLE 210375 0 0 0 Texas Industries COM 882491103 53484 1565242 SH SOLE 1531122 0 0 34120 Textainer Group Hldgs LTD COM g8766e109 248 11490 SH SOLE 11490 0 0 0 Textron COM 883203101 318 15000 SH SOLE 15000 0 0 0 Thomas & Betts Corp. COM 884315102 11191 285200 SH SOLE 240150 0 0 45050 Timken Co. COM 887389104 21308 710018.624 SH SOLE 675833.624 0 0 34185 Titan Intl. Inc. COM 88830m102 18432 2111300 SH SOLE 2111300 0 0 0 Toll Brothers, Inc. COM 889478103 41269 1984088 SH SOLE 1954778 0 0 29310 Tootsie Roll Inds COM 890516107 38723 1432600 SH SOLE 1432600 0 0 0 Torchmark Corp COM 891027104 321 6000 SH SOLE 6000 0 0 0 Travelers Inc. COM 89417e109 415 7700 SH SOLE 7700 0 0 0 Treehouse Foods Inc COM 89469a104 74584 1700117 SH SOLE 1686997 0 0 13120 Trinity Biotech ADR COM 896438306 60 11000 SH SOLE 11000 0 0 0
FORM 13F INFORMATION TABLE 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 MANAGERS SOLE SHARED NONE ------------------------------ -------------- --------- -------- ----------- --- ---- ---------- ----------- ---- ------ ------ Trinity Indus Inc. COM 896522109 32674 1636950 SH SOLE 1634950 0 0 2000 Tyco Intl Inc. COM h89128104 2594 67827 SH SOLE 67827 0 0 0 URS Corporation COM 903236107 12899 260000 SH SOLE 260000 0 0 0 Union Pacific Corp COM 907818108 3229 44046 SH SOLE 44046 0 0 0 Unit Corp COM 909218109 1184 28000 SH SOLE 28000 0 0 0 United States Nat Gas Fund COM 912318102 283 41000 SH SOLE 41000 0 0 0 United States Oil Fund COM 91232n108 2816 69900 SH SOLE 69900 0 0 0 United Technlogies COM 913017109 206 2800 SH SOLE 2800 0 0 0 Unitrin Inc COM 913275103 1726 61550 SH SOLE 57350 0 0 4200 Universal Stainless COM 913837100 17633 735000 SH SOLE 735000 0 0 0 Vail Resorts Inc. COM 91879q109 71721 1789003 SH SOLE 1766913 0 0 22090 Valmont Inds. Inc. COM 920253101 37702 455170 SH SOLE 455170 0 0 0 Vectren Corp COM 92240G101 28584 1156324 SH SOLE 1130454 0 0 25870 Viewpoint Finl Group COM 926727108 181 11187 SH SOLE 11187 0 0 0 Visa Inc. COM 92826c839 273 3000 SH SOLE 3000 0 0 0 W.R. Berkley Corp. COM 84423102 26441 1013470 SH SOLE 1013470 0 0 0 W.R. Grace COM 38388F108 49535 1784400 SH SOLE 1728500 0 0 55900 WAYSIDE TECH GROUP INC COM COM 946760105 112 12300 SH SOLE 12300 0 0 0 Wabco Holdings Inc COM 92927k102 3132 104670 SH SOLE 100170 0 0 4500 Wabtec Corp. COM 929740108 83079 1972442 SH SOLE 1937622 0 0 34820 Waddell & Reed Fin Cl A COM 930059100 60542 1679860 SH SOLE 1679860 0 0 0 Walter Energy, Inc. COM 93317Q105 128927 1397281.932 SH SOLE 1378071.932 0 0 19210 Walter Investment Management COM 93317w102 33838 2114882.498 SH SOLE 2082393.498 0 0 32489 Waterstone Financial, Inc COM 941888109 54 15000 SH SOLE 15000 0 0 0 Watts Water Technologies Cl A COM 942749102 45562 1466900 SH SOLE 1460800 0 0 6100 Wausau Paper Corp. COM 943315101 12959 1517500 SH SOLE 1517500 0 0 0 Westar Energy Inc COM 95709t100 49064 2200173.122 SH SOLE 2106208.122 0 0 93965 Westfield Financial Inc. COM 96008p104 25404 2764287 SH SOLE 2685857 0 0 78430 Westwood Hldg Group COM 961765104 2429 66000 SH SOLE 66000 0 0 0 Willbros Group Inc COM 969203108 37652 3135023 SH SOLE 3033058 0 0 101965 Wintrust Financial Corp COM 97650W108 47982 1289500 SH SOLE 1274500 0 0 15000 Wisconsin Energy Corp. COM 976657106 2572 52050 SH SOLE 52050 0 0 0 World Fuel Services Corp. COM 981475106 319 11970 SH SOLE 11970 0 0 0 World Wrestling Entmnt Inc. COM 98156q108 195 11270 SH SOLE 11270 0 0 0 Wright Express COM 98233q105 68802 2284260 SH SOLE 2198800 0 0 85460 Wyndham Worldwide COM 98310w108 68241 2652182 SH SOLE 2551692 0 0 100490 Zep Inc. COM 98944b108 34745 1588000 SH SOLE 1522200 0 0 65800