13F-HR 1 form13fhr.txt NONE UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 9/30/2011 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 submission. 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, 11/11/2011 --------------------------------- --------------------------------- ---------- [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: 379 Form 13F Information Table Value Total: $ 4,415,087 -------------- (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 ------------------------------ -------------- --------- -------- ------------- --- ---- ---------- ----------- ---- ------ ------ ADTRAN, Inc. COM 00738a106 270 10210.000SH SOLE 10210 0 0 0 AECOM Technology COM 00766t100 21101 1194175.000SH SOLE 1194175 0 0 0 AMC Networks Inc. COM 00164v103 8802 275500.000SH SOLE 257500 0 0 18000 AMCOL International Corp COM 02341W103 21611 900820.000SH SOLE 900820 0 0 0 AON Corp. COM 37389103 1758 41880.000SH SOLE 41880 0 0 0 ARCADIA RES INC COM COM 39209101 2 40000.000SH SOLE 40000 0 0 0 Aaron's Inc. COM 2535300 3039 120375.000SH SOLE 118575 0 0 1800 Ace Ltd. COM H0023r105 1647 27175.000SH SOLE 27175 0 0 0 Acuity Brands Inc COM 00508y102 37960 1053275.000SH SOLE 989805 0 0 63470 Advance Auto Parts, Inc. COM 00751y106 1936 33320.000SH SOLE 33320 0 0 0 Agilent Technologies COM 00846u101 274 8780.000 SH SOLE 8780 0 0 0 Allete Inc COM 18522300 29834 814465.000SH SOLE 749125 0 0 65340 Amerco COM 23586100 25592 409800.000SH SOLE 407700 0 0 2100 American Campus Communities COM 24835100 546 14680.000SH SOLE 14680 0 0 0 American Water Works Co., Inc. COM 30420103 3852 127645.000SH SOLE 124505 0 0 3140 Ameriprise Financial COM 03076c106 2394 60825.000SH SOLE 55825 0 0 5000 AmerisourceBergen Corp COM 03073e105 39951 1071930.000SH SOLE 1046830 0 0 25100 Ampco Pittsburgh COM 32037103 18702 914500.000SH SOLE 914500 0 0 0 Aptargroup COM 38336103 3065 68606.000SH SOLE 67806 0 0 800 Aqua America Inc COM 03836w103 438 20290.000SH SOLE 20290 0 0 0 Arbitron, Inc. COM 03875q108 20488 619340.000SH SOLE 585840 0 0 33500 Arthur J. Gallagher & Co. COM 363576109 14467 550075.000SH SOLE 507465 0 0 42610 Ashland Inc. COM 44209104 28805 652592.000SH SOLE 646992 0 0 5600 Avis Budget Group COM 53774105 27238 2816785.000SH SOLE 2627285 0 0 189500 Azz Incorporated COM 2474104 22332 576000.000SH SOLE 576000 0 0 0 B & G FOODS INC NEW CL A COM 05508R106 455 27270.000SH SOLE 27270 0 0 0 BARCLAYS BANK PLC ETN DJUBSCOT COM 06739h271 923 15000.000SH SOLE 15000 0 0 0 BOARDWALK PIPELIN PTNR UT LTD COM 96627104 241 9384.374 SH SOLE 9384.374 0 0 0 BOISE INC COM COM 09746y105 52 10000.000SH SOLE 10000 0 0 0 BOK Financial Corp COM 05561q201 1363 29060.000SH SOLE 29060 0 0 0 Babcock & Wilcox Co. COM 05615F102 34497 1764567.000SH SOLE 1657757 0 0 106810 BancorpSouth, Inc. COM 59692103 306 34850.000SH SOLE 34850 0 0 0 Bank of America COM 60505104 862 140851.796SH SOLE 140851.796 0 0 0 Bank of Nova Scotia Halifax COM 64149107 365 7280.000 SH SOLE 7280 0 0 0 BankFinancial Corp COM 06643p104 166 25000.000SH SOLE 25000 0 0 0 Barclays Bk Plc IPath Index COM 06738c778 530 12700.000SH SOLE 12700 0 0 0 Baytex Energy Tr Unit COM 07317q105 285 6844.000 SH SOLE 6844 0 0 0 Beacon Federal Bancorp, Inc. COM 73582108 226 17000.000SH SOLE 17000 0 0 0 Belo Corporation COM 80555105 9384 1919090.000SH SOLE 1909790 0 0 9300 Bemis Company Inc COM 81437105 280 9540.000 SH SOLE 9540 0 0 0 Beneficial Mut Bancorp Inc. COM 08173r104 5885 789885.000SH SOLE 697765 0 0 92120 Berry Petroleum Co. COM 85789105 19829 560450.000SH SOLE 560450 0 0 0 Boston Private Financial Hldgs COM 101119105 1452 247000.000SH SOLE 247000 0 0 0 Briggs & Straton COM 109043109 1365 101000.000SH SOLE 101000 0 0 0 Brinks Co COM 109696104 23565 1010929.000SH SOLE 953759 0 0 57170 Bristow Group Inc. COM 110394103 513 12090.000SH SOLE 12090 0 0 0 Broadridge Fincl Sol COM 11133t103 50878 2526221.000SH SOLE 2385821 0 0 140400 Brookline Bancorp Inc COM 11373m107 7710 1000000.000SH SOLE 1000000 0 0 0 C I T Group COM 125581801 6448 212330.000SH SOLE 191430 0 0 20900 CBOE Holdings, Inc. COM 12503M108 29010 1185516.000SH SOLE 1123546 0 0 61970 CHEMTURA CORP COM COM 163893209 391 20000.000SH SOLE 20000 0 0 0 CME Group, Inc. COM 12572q105 968 3928.000 SH SOLE 3928 0 0 0 CNO Financial Group, Inc. COM 12621E103 135 25000.980SH SOLE 25000.98 0 0 0 CURRENCYSHS AUSTRALIAN AUSTRAL COM 23129u101 233 2400.000 SH SOLE 2400 0 0 0 Calpine Corporation COM 131347304 1326 94195.000SH SOLE 90995 0 0 3200 Canadian Pacific COM 13645t100 950 19755.000SH SOLE 19755 0 0 0 Cantel Medical Corp COM 138098108 450 21310.000SH SOLE 21310 0 0 0 Capitol Federal Financial COM 14057j101 25380 2403393.000SH SOLE 2187603 0 0 215790 Cardinal Health Inc. COM 14149Y108 3442 82195.000SH SOLE 82195 0 0 0 CareFusion Corp. COM 14170T101 4012 167520.000SH SOLE 165220 0 0 2300
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 ------------------------------ -------------- --------- -------- ------------- --- ---- ---------- ----------- ---- ------ ------ Carrizo Oil & Gas Inc COM 144577103 25715 1192994.000SH SOLE 1154314 0 0 38680 Chemtura Corporation COM 163893209 24370 2429663.000SH SOLE 2233333 0 0 196330 Chicago Bridge & Iron COM 167250109 49900 1742933.133SH SOLE 1642033.133 0 0 100900 Circor Intl Inc COM 17273k109 28772 979649.248SH SOLE 942999.248 0 0 36650 Clearwater Paper Corp. COM 18538r103 19860 584450.000SH SOLE 584450 0 0 0 Cleco Corp. COM 12561w105 2564 75100.000SH SOLE 75100 0 0 0 Cliffs Natural Resources Inc COM 18683k101 235 4600.000 SH SOLE 4600 0 0 0 Cloud Peak Energy, Inc. COM 18911q102 10323 609000.000SH SOLE 609000 0 0 0 Colfax Corporation COM 194014106 41395 2043191.000SH SOLE 2024191 0 0 19000 Columbia Banking System, Inc. COM 197236102 149 10420.000SH SOLE 10420 0 0 0 Communications Systems, Inc. COM 203900105 384 29560.000SH SOLE 29560 0 0 0 Companhia de Bebidas (AmBev) COM 20441w203 255 8336.000 SH SOLE 8336 0 0 0 Compass Minerals Intl. Inc. COM 20451n101 8298 124257.000SH SOLE 108997 0 0 15260 Concho Resources Inc COM 20605p101 1266 17800.000SH SOLE 17800 0 0 0 Conocophillips COM 20825c104 1076 17000.000SH SOLE 17000 0 0 0 Consol Energy Inc. COM 20854P109 2993 88200.000SH SOLE 86680 0 0 1520 Contango Oil and Gas Co. COM 21075n204 33078 604600.000SH SOLE 604600 0 0 0 Continental Resources Inc. COM 212015101 27273 563840.000SH SOLE 562540 0 0 1300 Covidien Ltd. COM g2554f113 3418 77495.000SH SOLE 77495 0 0 0 Dana Holding Corporation COM 235825205 20419 1944704.000SH SOLE 1857894 0 0 86810 Darling International, Inc. COM 237266101 12468 990300.000SH SOLE 938800 0 0 51500 Dean Foods Co. COM 242370104 120 13500.000SH SOLE 13500 0 0 0 Deltic Timber Corp COM 247850100 51325 860008.835SH SOLE 814723.835 0 0 45285 Deluxe Corp. COM 248019101 290 15600.000SH SOLE 15600 0 0 0 Denny's Corporation COM 24869p104 28463 8547568.000SH SOLE 8378818 0 0 168750 Dentsply International, Inc. COM 249030107 1012 32990.000SH SOLE 32990 0 0 0 Destination Maternity Corp. COM 25065D100 269 20900.000SH SOLE 20900 0 0 0 Diamond Foods, Inc. COM 252603105 28489 357005.000SH SOLE 357005 0 0 0 DineEquity Inc. COM 254423106 33588 872649.000SH SOLE 843149 0 0 29500 Direx Dly Energy Bear 3X COM 25459w342 666 29000.000SH SOLE 29000 0 0 0 Direxion Daily Small Cap Bear COM 25459w110 1986 37500.000SH SOLE 37500 0 0 0 Discover Financial Svc COM 254709108 4292 187095.000SH SOLE 187095 0 0 0 Dollar General Corp COM 256677105 2687 71165.000SH SOLE 68965 0 0 2200 Dollar Tree Stores Inc COM 256746108 4709 62675.000SH SOLE 62675 0 0 0 Donnelly RR & Sons. Co. COM 257867101 2284 161760.000SH SOLE 148660 0 0 13100 Dover Corp. COM 260003108 1039 22300.000SH SOLE 22300 0 0 0 Dresser Rand Group Inc COM 261608103 30857 761349.000SH SOLE 736869 0 0 24480 Dril Quip Inc. COM 262037104 26152 485100.000SH SOLE 465200 0 0 19900 DuPont E.I. DeNemours COM 263534109 245 6120.000 SH SOLE 6120 0 0 0 Duff & Phelps COM 26433b107 591 55445.000SH SOLE 51945 0 0 3500 Dynex Capital, Inc. COM 26817q506 291 36120.000SH SOLE 36120 0 0 0 ENBRIDGE ENERGY PRTNRS COM COM 29250r106 445 16200.000SH SOLE 16200 0 0 0 ENERGY TRANSFER PRTNRS UNIT LT COM 29273r109 369 9000.000 SH SOLE 9000 0 0 0 EOG Resources Inc COM 26875p101 1307 18400.000SH SOLE 18400 0 0 0 ESSA BANCORP INC COM COM 29667d104 105 10000.000SH SOLE 10000 0 0 0 ETF TR AGRIBUS ETF COM 57060u605 449 10395.000SH SOLE 10395 0 0 0 EXTERRAN PARTNERS LP COM UNITS COM 30225n105 368 16800.000SH SOLE 16800 0 0 0 Eastern Insurance Inc. COM 276534104 758 57620.000SH SOLE 57620 0 0 0 Eaton Corp COM 278058102 888 25000.000SH SOLE 25000 0 0 0 Einstein Noah Restaurant Group COM 28257u104 372 29030.000SH SOLE 29030 0 0 0 El Paso Electric Co. COM 283677854 591 18420.000SH SOLE 18420 0 0 0 El Paso Pipeline Partners, LP COM 283702108 84 2360.000 SH SOLE 2360 0 0 0 EnCana Corp. COM 292505104 1184 61640.000SH SOLE 61640 0 0 0 Energy Transfer Equity LP COM 29273v100 61 1760.000 SH SOLE 1760 0 0 0 Enpro Industries Inc. COM 29355x107 38032 1281388.000SH SOLE 1220668 0 0 60720 Enterprise Products Partners COM 293792107 531 13220.000SH SOLE 13220 0 0 0 Epoch Hldg Corp COM 29428r103 33930 2500332.000SH SOLE 2459332 0 0 41000 Equity Lifestyles Properties, COM 29472R108 361 5760.000 SH SOLE 5760 0 0 0 Evercore Partners Inc. - CL A COM 29977a105 10192 447000.000SH SOLE 447000 0 0 0 Exco Resources Inc. COM 269279402 24721 2306070.000SH SOLE 2217470 0 0 88600
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 ------------------------------ -------------- --------- -------- ------------- --- ---- ---------- ----------- ---- ------ ------ Exxon Corp COM 30231G102 370 5100.000 SH SOLE 5100 0 0 0 FMC Corp. COM 302491303 3755 54290.000SH SOLE 54290 0 0 0 FMC Technologies COM 30249u101 1962 52185.000SH SOLE 52185 0 0 0 Federal Signal Corp. COM 313855108 17508 3960986.000SH SOLE 3895656 0 0 65330 Federated Investors, Inc. COM 314211103 33676 1921063.000SH SOLE 1785613 0 0 135450 Fidelity National Info COM 31620m106 5175 212780.000SH SOLE 208928 0 0 3852 Fidelity Natl Finl Inc COM 31620r105 1189 78347.000SH SOLE 72947 0 0 5400 First American Financial COM 31847R102 36229 2830388.000SH SOLE 2663648 0 0 166740 First Niagara Financial COM 33582v108 31821 3477700.000SH SOLE 3290300 0 0 187400 FirstMerit Corp. COM 337915102 7267 639674.000SH SOLE 572334 0 0 67340 Flotek Industries Inc. COM 343389102 677 145000.000SH SOLE 145000 0 0 0 Flowers Foods Inc COM 343498101 49769 2557492.112SH SOLE 2371786.112 0 0 185706 Flowserve Corp. COM 34354p105 8684 117351.000SH SOLE 105341 0 0 12010 Foot Locker, Inc. COM 344849104 22337 1111845.000SH SOLE 1108345 0 0 3500 Forestar Group, Inc. COM 346233109 23975 2197557.000SH SOLE 2065666 0 0 131891 Foster L B Co. COM 350060109 30920 1390894.000SH SOLE 1339804 0 0 51090 Foster Wheeler AG COM H27178104 27684 1556166.000SH SOLE 1478226 0 0 77940 Franklin Elec Inc COM 353514102 16897 465729.000SH SOLE 465729 0 0 0 Franklin Financial Corp. COM 35353c102 617 55860.000SH SOLE 55860 0 0 0 Fresenius Medical Care AG COM 358029106 1407 20829.000SH SOLE 20829 0 0 0 GAMCO Invs Inc COM 361438104 15126 384000.000SH SOLE 384000 0 0 0 GP Strategies Corp. COM 36225v104 150 15000.000SH SOLE 15000 0 0 0 Gardner Denver Inc COM 365558105 20781 327000.000SH SOLE 327000 0 0 0 Gaylord Entmt Co. COM 367905106 27209 1406865.000SH SOLE 1363665 0 0 43200 Generac Holdings, Inc. COM 368736104 1636 87000.000SH SOLE 87000 0 0 0 General Cable Corp. COM 369300108 16485 706000.000SH SOLE 706000 0 0 0 Genesee & Wyoming COM 371559105 45107 969630.000SH SOLE 933830 0 0 35800 Glacier Bancorp Inc COM 37637q105 372 39650.000SH SOLE 39650 0 0 0 Government Properties Income T COM 38376a103 443 20600.000SH SOLE 20600 0 0 0 Greenbrier Cos Inc COM 393657101 19760 1696150.000SH SOLE 1696150 0 0 0 Greenhill & Co Inc. COM 395259104 9520 333000.000SH SOLE 333000 0 0 0 Gulfport Energy Corp. COM 402635304 34787 1438656.000SH SOLE 1344446 0 0 94210 HCC Insurance Holdings COM 404132102 32547 1203230.000SH SOLE 1198230 0 0 5000 Halliburton Co COM 406216101 791 25905.000SH SOLE 25905 0 0 0 Hanesbrands Inc COM 410345102 37336 1492826.000SH SOLE 1393856 0 0 98970 Hanger Orthopedic Group COM 41043f208 28345 1500548.000SH SOLE 1435748 0 0 64800 Hanover Ins Group Inc COM 410867105 38191 1075800.000SH SOLE 1036550 0 0 39250 Harry Winston Diamond Corp COM 41587b100 1946 191700.000SH SOLE 191700 0 0 0 Harsco Corp COM 415864107 270 13940.000SH SOLE 13940 0 0 0 Haynes Intl Inc. COM 420877201 21204 488000.000SH SOLE 488000 0 0 0 Healthcare Realty Trust COM 421946104 509 30179.734SH SOLE 30179.734 0 0 0 Henry Jack & Assoc. Inc. COM 426281101 374 12920.000SH SOLE 12920 0 0 0 Henry Schein Inc. COM 806407102 3785 61040.000SH SOLE 59740 0 0 1300 Hercules Offshore Inc. COM 427093109 11596 3984716.000SH SOLE 3972116 0 0 12600 Hill-Rom Holdings Inc COM 431475102 46017 1532879.000SH SOLE 1440039 0 0 92840 HomeFederal Bancorp COM 43710G105 11381 1455329.000SH SOLE 1427384 0 0 27945 Howard Hughes Corporation COM 44267d107 11911 282912.000SH SOLE 282912 0 0 0 IBM COM 459200101 886 5065.000 SH SOLE 5065 0 0 0 IF Bancorp Inc COM 44951j105 195 17643.000SH SOLE 17643 0 0 0 INERGY L P UNIT LTD PTNR COM 456615103 320 12789.000SH SOLE 12789 0 0 0 ISHARES INC MSCI BRAZIL COM 464286400 262 5042.120 SH SOLE 5042.12 0 0 0 ISHARES TR BARCLYS 1-3YR CR COM 464288646 504 4850.000 SH SOLE 4850 0 0 0 IShares Barclays TIPS Bond Fun COM 464287176 466 4075.000 SH SOLE 4075 0 0 0 IShares Inc MSCI Australia Ind COM 464286103 559 27886.713SH SOLE 27886.713 0 0 0 IShares Inc MSCI Canada Index COM 464286509 477 18696.727SH SOLE 18696.727 0 0 0 IShares TR FTSE Xinhua HK Chin COM 464287184 225 7296.198 SH SOLE 7296.198 0 0 0 ITC Holdings Corp COM 465685105 61651 796212.000SH SOLE 749712 0 0 46500 ITT Corp. COM 450911102 3900 92850.000SH SOLE 92850 0 0 0 Iberiabank Corp. COM 450828108 41713 886370.000SH SOLE 851930 0 0 34440 Iconix Brand Group Inc. COM 451055107 15347 971320.000SH SOLE 892300 0 0 79020
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 ------------------------------ -------------- --------- -------- ------------- --- ---- ---------- ----------- ---- ------ ------ Ingersoll Rand COM G47791101 1904 67770.000SH SOLE 61770 0 0 6000 Invesco Ltd. COM G491BT108 3968 255821.000SH SOLE 255821 0 0 0 Iron Mountain, Inc. COM 462846106 8709 275412.480SH SOLE 247562.48 0 0 27850 Ishares Tr Russell 2000 Value COM 464287630 752 13180.000SH SOLE 13180 0 0 0 JMP Group, Inc. COM 46629u107 116 20000.000SH SOLE 20000 0 0 0 JP Morgan Chase & Co COM 46625h100 1619 53765.000SH SOLE 53765 0 0 0 Jarden Corporation COM 471109108 3159 111800.000SH SOLE 111800 0 0 0 John Bean Tech, Corp. COM 477839104 30423 2133433.000SH SOLE 2009333 0 0 124100 Joy Global Inc COM 481165108 28444 455975.000SH SOLE 441975 0 0 14000 KBR Inc. COM 48242w106 2481 104995.000SH SOLE 102995 0 0 2000 KMG Chemicals Inc. COM 482564101 340 27610.000SH SOLE 27610 0 0 0 Kaiser Aluminum Corp New COM 483007704 43057 972373.000SH SOLE 923513 0 0 48860 Kaman Corp COM 483548103 24117 865960.000SH SOLE 865960 0 0 0 Kansas City Southern COM 485170302 56006 1121011.000SH SOLE 1059131 0 0 61880 Kaydon Corp. COM 486587108 22471 783500.000SH SOLE 783500 0 0 0 Kinder Morgan Energy Partners COM 494550106 363 5310.000 SH SOLE 5310 0 0 0 Koppers Holdings Inc. COM 50060p106 28955 1130632.000SH SOLE 1103642 0 0 26990 Kraft Foods Inc COM 50075N104 2086 62120.000SH SOLE 62120 0 0 0 Layne Christensen Company COM 521050104 23216 1005000.000SH SOLE 1005000 0 0 0 Lazard Ltd. COM g54050102 1869 88575.000SH SOLE 88575 0 0 0 Legg Mason, Inc. COM 524901105 24286 944600.000SH SOLE 940100 0 0 4500 Lennar Corp Cl A COM 526057104 937 69171.000SH SOLE 69171 0 0 0 Leucadia National COM 527288104 3131 138053.000SH SOLE 135253 0 0 2800 Littlefuse Inc. COM 537008104 17411 433000.000SH SOLE 433000 0 0 0 Lufkin Inds. Inc COM 549764108 18914 355460.000SH SOLE 355460 0 0 0 MARKWEST ENERGY PARTNR UNIT LT COM 570759100 340 7400.000 SH SOLE 7400 0 0 0 MEDQUIST HLDGS INC COM COM 58506k102 94 12400.000SH SOLE 12400 0 0 0 MF Global Hldgs LTD COM 55277j108 14115 3417699.000SH SOLE 3264699 0 0 153000 MGM Resorts International COM 552953101 4718 507880.000SH SOLE 507880 0 0 0 Macquarie Infrastructure COM 55608b105 7554 336610.000SH SOLE 302110 0 0 34500 Madison Square Garden COM 55826p100 23627 1036250.000SH SOLE 1025250 0 0 11000 Magnetek Inc. COM 559424106 12 13200.000SH SOLE 13200 0 0 0 Magnum Hunter Res COM 55973b102 7964 2406000.000SH SOLE 2406000 0 0 0 Maidenform Brands Inc COM 560305104 21362 912500.000SH SOLE 912500 0 0 0 Manitowoc Company Inc. COM 563571108 1839 274000.000SH SOLE 274000 0 0 0 Marathon Oil Corp COM 565849106 1378 63860.000SH SOLE 63860 0 0 0 Marcus Corp. COM 566330106 22460 2257267.000SH SOLE 2170767 0 0 86500 Marketaxess Hldgs Inc COM 57060d108 27880 1071500.000SH SOLE 1071500 0 0 0 Materion Corp Com COM 576690101 18484 815000.000SH SOLE 815000 0 0 0 McDermott International COM 580037109 26727 2483948.000SH SOLE 2361988 0 0 121960 McGraw Hill Co COM 580645109 1447 35300.000SH SOLE 35300 0 0 0 Mead Johnson Nutrition Co. COM 582839106 1480 21500.000SH SOLE 21500 0 0 0 Meadowbrook Insurance Group COM 58319p108 497 55790.000SH SOLE 55790 0 0 0 Medical Properties Trust, Inc. COM 58463j304 399 44548.483SH SOLE 44548.483 0 0 0 Medtronic Inc. COM 585055106 1623 48820.000SH SOLE 48820 0 0 0 Meridian Bioscience Inc COM 589584101 300 19040.000SH SOLE 19040 0 0 0 Midas Inc. COM 595626102 6039 736500.000SH SOLE 736500 0 0 0 Monotype Imaging Holdings, Inc COM 61022P100 1757 145000.000SH SOLE 145000 0 0 0 Mueller Water COM 624758108 40 16304.000SH SOLE 16304 0 0 0 NATURAL RESOURCE PRTNR COM UNI COM 63900p103 366 14450.000SH SOLE 14450 0 0 0 NCR Corp COM 62886e108 35898 2125380.000SH SOLE 2048520 0 0 76860 National Fuel & Gas Co COM 636180101 4431 91020.000SH SOLE 91020 0 0 0 National Presto Industries, In COM 637215104 10443 120155.000SH SOLE 120155 0 0 0 Natural Gas Services Grp Inc. COM 63886q109 16794 1309000.000SH SOLE 1309000 0 0 0 Neenah Paper COM 640079109 450 31700.000SH SOLE 31700 0 0 0 Nordic American Tanker COM g65773106 299 21220.000SH SOLE 21220 0 0 0 Northern Trust Corp. COM 665859104 1150 32875.000SH SOLE 32875 0 0 0 Northwest Bancshares, Inc. COM 667340103 20188 1695088.000SH SOLE 1573818 0 0 121270 Northwestern Corporation COM 668074305 583 18240.000SH SOLE 18240 0 0 0 NuStar Energy, L.P. COM 67058h102 366 7000.000 SH SOLE 7000 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 ------------------------------ -------------- --------- -------- ------------- --- ---- ---------- ----------- ---- ------ ------ OBA Financial Services Inc. COM 67424g101 290 19984.000SH SOLE 19984 0 0 0 OGE Energy Corp. COM 670837103 1830 38300.000SH SOLE 38300 0 0 0 ONEOK PARTNERS LP UNIT LTD PAR COM 68268n103 573 12300.000SH SOLE 12300 0 0 0 OXIGENE INC COM COM 691828305 28 28000.000SH SOLE 28000 0 0 0 Oasis Petroleum Inc COM 674215108 30231 1353820.000SH SOLE 1293870 0 0 59950 OceanFirst Financial Corp COM 675234108 204 17500.000SH SOLE 17500 0 0 0 Orient Express Hotels COM g67743107 13300 1924805.000SH SOLE 1841755 0 0 83050 Oriental Financial Group Inc. COM 68618w100 193 20000.000SH SOLE 20000 0 0 0 Oritani Financial Corp. COM 68633d103 25052 1948050.000SH SOLE 1876950 0 0 71100 Owens & Minor Inc. COM 690732102 249 8745.000 SH SOLE 8745 0 0 0 PHH Corp. COM 693320202 31322 1947885.000SH SOLE 1884305 0 0 63580 PIMCO MUNICIPAL INC FD COM COM 72200r107 139 10237.000SH SOLE 10237 0 0 0 POWERSHARES ETF TR II BUILD AM COM 73937b407 2326 80707.000SH SOLE 80707 0 0 0 POWERSHARES GLB ETF FD S&P 500 COM 73936g308 314 16776.167SH SOLE 16776.167 0 0 0 PROSHARES TR PSHS SHTRUSS2000 COM 74347r826 251 7000.000 SH SOLE 7000 0 0 0 PROSHARES TR ULTRASHT SP500 COM 74347r883 2549 100000.000SH SOLE 100000 0 0 0 Partnerre Ltd COM g6852t105 9553 182760.000SH SOLE 182760 0 0 0 Patterson Companies Inc. COM 703395103 33627 1174542.000SH SOLE 1120522 0 0 54020 Peabody Energy Corp COM 704549104 343 10135.000SH SOLE 10135 0 0 0 Penske Automotive Gr Inc COM 70959w103 31724 1982766.000SH SOLE 1847836 0 0 134930 Perrigo Company COM 714290103 43374 446650.000SH SOLE 439650 0 0 7000 Petroquest Energy, Inc. COM 716748108 495 90000.000SH SOLE 90000 0 0 0 Petsmart, Inc. COM 716768106 40615 952275.000SH SOLE 934075 0 0 18200 Pfizer Inc. COM 717081103 1898 107325.000SH SOLE 107325 0 0 0 Pioneer Natural Resources COM 723787107 786 11945.000SH SOLE 8445 0 0 3500 Plains All American Pipeline L COM 726503105 795 13485.000SH SOLE 13485 0 0 0 Plains Expl & Prod Co COM 726505100 3232 142305.000SH SOLE 133505 0 0 8800 Popular Inc COM 733174106 90 60000.000SH SOLE 60000 0 0 0 Portland General Electric Co. COM 736508847 1972 83250.000SH SOLE 83250 0 0 0 Powershares DB Agriculture COM 73936b408 593 20000.000SH SOLE 20000 0 0 0 Powershares QQQ Trust COM 73935a104 5283 100639.000SH SOLE 100639 0 0 0 PriceSmart, Inc. COM 741511109 585 9390.000 SH SOLE 9390 0 0 0 Proshares Ultrashort QQQ COM 74347x237 446 8200.000 SH SOLE 8200 0 0 0 Protective Life Corp. COM 743674103 477 30490.000SH SOLE 30490 0 0 0 Providence & Worcester RR COM 743737108 3709 296736.000SH SOLE 290836 0 0 5900 Provident Financial COM 74386t105 14754 1372500.000SH SOLE 1372500 0 0 0 Pulte Group Inc. COM 745867101 395 100000.000SH SOLE 100000 0 0 0 QEP Resources Inc. COM 74733v100 3451 127500.000SH SOLE 127500 0 0 0 Quanta Services Inc COM 74762E102 3260 173520.000SH SOLE 173520 0 0 0 Questar Corp COM 748356102 30858 1742400.000SH SOLE 1680500 0 0 61900 RBC Bearings Inc. COM 75524b104 26737 786600.000SH SOLE 778000 0 0 8600 RG Barry Corp COM 68798107 404 38090.000SH SOLE 38090 0 0 0 RPM International Inc. COM 749685103 263 14040.000SH SOLE 14040 0 0 0 RadioShack Corporation COM 750438103 329 28330.000SH SOLE 28330 0 0 0 RailAmerica Inc. COM 750753402 18039 1384400.000SH SOLE 1305100 0 0 79300 Range Resources Corp. COM 75281a109 36654 627000.000SH SOLE 627000 0 0 0 Red Robin Gourmet Burgers COM 75689m101 6175 256330.000SH SOLE 229830 0 0 26500 Regal Beloit Corp. COM 758750103 25965 572168.000SH SOLE 548098 0 0 24070 Regis Corp. COM 758932107 705 50000.000SH SOLE 50000 0 0 0 Reinsurance Group of America COM 759351604 23261 506220.000SH SOLE 506220 0 0 0 Resolute Energy Corp. COM 76116A108 12288 1081715.000SH SOLE 1081715 0 0 0 Richardson Electronics, Ltd. COM 763165107 552 40530.000SH SOLE 40530 0 0 0 Robbins & Myers Inc COM 770196103 26449 762000.000SH SOLE 762000 0 0 0 Rock-Tenn Company COM 772739207 17178 352870.000SH SOLE 341870 0 0 11000 Rockville Financial Inc. COM 774188106 8784 926600.000SH SOLE 836500 0 0 90100 SPDR Gold Trust COM 78463v107 273 1725.000 SH SOLE 1725 0 0 0 SPDR SERIES TRUST S&P HOMEBUIL COM 78464a888 133 10000.000SH SOLE 10000 0 0 0 SPDR Trust Ser 1 Unit COM 78462f103 32144 284079.325SH SOLE 284079.325 0 0 0 SUNTECH PWR HLDGS CO ADR ADR 86800c104 46 20000.000SH SOLE 20000 0 0 0 SUPERVALU, Inc. COM 868536103 28253 4242139.000SH SOLE 4127619 0 0 114520
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 ------------------------------ -------------- --------- -------- ------------- --- ---- ---------- ----------- ---- ------ ------ Sabra Health Care REIT COM 78573l106 268 28100.000SH SOLE 28100 0 0 0 Safeguard Scientifics Inc. COM 786449207 1485 99000.000SH SOLE 99000 0 0 0 Saks Holdings Inc COM 79377W108 15413 1761500.000SH SOLE 1761500 0 0 0 Sally Beauty Holdings Inc COM 79546e104 51171 3082613.000SH SOLE 2904393 0 0 178220 Sandridge Energy, Inc. COM 80007p307 1635 294000.000SH SOLE 294000 0 0 0 Sara Lee Corp COM 803111103 1542 94330.000SH SOLE 94330 0 0 0 Si Financial Group Inc. COM 78425v104 160 17245.000SH SOLE 17245 0 0 0 Smith A O Corp COM 831865209 28423 887395.000SH SOLE 836435 0 0 50960 Snap On Inc COM 833034101 4254 95805.000SH SOLE 94705 0 0 1100 Solutia Inc. COM 834376501 6900 536937.000SH SOLE 482557 0 0 54380 South Jersey Inds Inc. COM 838518108 16465 330955.000SH SOLE 330955 0 0 0 Sovran Self Storage, Inc. COM 84610H108 479 12890.000SH SOLE 12890 0 0 0 Stag Industrial Inc. COM 85254j102 466 45680.000SH SOLE 45680 0 0 0 Stage Stores Inc COM 85254c305 179 12910.000SH SOLE 12910 0 0 0 Standard Parking Corp COM 853790103 4797 306704.000SH SOLE 306704 0 0 0 Summit Hotel Properties, Inc. COM 866082100 469 66470.000SH SOLE 66470 0 0 0 Sun Hydraulics Corporation COM 866942105 21481 1054000.000SH SOLE 1054000 0 0 0 Superior Industrials Internati COM 868168105 428 27690.000SH SOLE 27690 0 0 0 TEEKAY OFFSHORE PTN LP PARTNER COM y8565j101 410 16700.000SH SOLE 16700 0 0 0 TRIANGLE PETE CORP COM NEW COM 89600b201 144 40000.000SH SOLE 40000 0 0 0 Teekay LNG Partners LP COM Y8564M105 442 14200.000SH SOLE 14200 0 0 0 Teledyne COM 879360105 27351 559780.000SH SOLE 559780 0 0 0 Tennant Co COM 880345103 32433 916970.000SH SOLE 909970 0 0 7000 Teradata Corp. COM 88076W103 7850 146640.000SH SOLE 146640 0 0 0 Terex Corp. COM 880779103 14990 1461000.000SH SOLE 1397000 0 0 64000 Territorial Bancorp, Inc. COM 88145x108 11414 596035.000SH SOLE 596035 0 0 0 Texas Industries COM 882491103 28082 884750.000SH SOLE 861500 0 0 23250 Textainer Group Hldgs LTD COM g8766e109 279 13740.000SH SOLE 13740 0 0 0 Thomas & Betts Corp. COM 884315102 9403 235600.000SH SOLE 212350 0 0 23250 Timken Co. COM 887389104 17550 534744.624SH SOLE 455434.624 0 0 79310 Titan Intl. Inc. COM 88830m102 23975 1598360.000SH SOLE 1598360 0 0 0 Tootsie Roll Inds COM 890516107 15386 637888.000SH SOLE 637888 0 0 0 Torchmark Corp COM 891027104 200 5750.000 SH SOLE 5750 0 0 0 Total System Services, Inc. COM 891906109 318 18780.000SH SOLE 18780 0 0 0 Travelers Inc. COM 89417e109 229 4700.000 SH SOLE 4700 0 0 0 Treehouse Foods Inc COM 89469a104 56265 909852.000SH SOLE 874722 0 0 35130 Trinity Indus Inc. COM 896522109 36472 1703496.000SH SOLE 1629586 0 0 73910 Twin Disc, Inc. COM 901476101 8591 322118.000SH SOLE 299118 0 0 23000 Tyco Intl Inc. COM h89128104 2058 50510.000SH SOLE 50510 0 0 0 U.S. Physical Therapy, Inc. COM 90337l108 1440 77740.000SH SOLE 77740 0 0 0 Union Pacific Corp COM 907818108 2301 28175.000SH SOLE 28175 0 0 0 Unit Corp COM 909218109 987 26720.000SH SOLE 26720 0 0 0 United Technlogies COM 913017109 239 3400.000 SH SOLE 3400 0 0 0 Universal Stainless COM 913837100 17019 669500.000SH SOLE 669500 0 0 0 Vail Resorts Inc. COM 91879q109 47454 1255721.000SH SOLE 1192911 0 0 62810 Valmont Inds. Inc. COM 920253101 23616 303000.000SH SOLE 303000 0 0 0 Vanguard Bond In COM 921937827 313 3850.000 SH SOLE 3850 0 0 0 Vectren Corp COM 92240G101 25130 927988.000SH SOLE 874718 0 0 53270 Viewpoint Finl Group COM 92672a101 26834 2343548.000SH SOLE 2184758 0 0 158790 Virtus Investment Partners COM 92828Q109 268 5000.000 SH SOLE 5000 0 0 0 Visa Inc. COM 92826c839 391 4565.000 SH SOLE 4565 0 0 0 Visteon Corp COM 92839u206 4600 106975.000SH SOLE 103875 0 0 3100 W.R. Berkley Corp. COM 84423102 27043 910855.000SH SOLE 910855 0 0 0 W.R. Grace COM 38388F108 36356 1091770.000SH SOLE 1053570 0 0 38200 WILLIAMS PARTNERS L P COM UNIT COM 96950f104 521 9600.000 SH SOLE 9600 0 0 0 WISDOMTREE INVTS INC COM COM 97717p104 211 30000.000SH SOLE 30000 0 0 0 Wabco Holdings Inc COM 92927k102 1893 49990.000SH SOLE 45690 0 0 4300 Wabtec Corp. COM 929740108 57480 1087195.000SH SOLE 1029375 0 0 57820 Waddell & Reed Fin Cl A COM 930059100 27217 1088250.000SH SOLE 1060370 0 0 27880 Walter Energy, Inc. COM 93317Q105 32028 533714.932SH SOLE 504304.932 0 0 29410
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 ------------------------------ -------------- --------- -------- ------------- --- ---- ---------- ----------- ---- ------ ------ Walter Investment Management COM 93317w102 43441 1894507.435SH SOLE 1854778.435 0 0 39729 Warner Chilcott, Ltd. COM g94368100 152 10660.000SH SOLE 10660 0 0 0 Watts Water Technologies Cl A COM 942749102 22040 827000.000SH SOLE 827000 0 0 0 Wendy's/Arby's Group Inc. COM 95058w100 516 112500.000SH SOLE 112500 0 0 0 Westar Energy Inc COM 95709t100 8585 324940.122SH SOLE 274990.122 0 0 49950 Westfield Financial Inc. COM 96008p104 16906 2565472.000SH SOLE 2499442 0 0 66030 Westwood Hldg Group COM 961765104 2452 70980.000SH SOLE 70980 0 0 0 Williams Cos. COM 969457100 2011 82610.000SH SOLE 82610 0 0 0 Winn-Dixie Stores Inc. COM 974280307 1042 176000.000SH SOLE 176000 0 0 0 Wintrust Financial Corp COM 97650W108 30835 1194700.000SH SOLE 1149600 0 0 45100 Wisconsin Energy Corp. COM 976657106 4863 155420.000SH SOLE 155420 0 0 0 World Fuel Services Corp. COM 981475106 843 25820.000SH SOLE 25820 0 0 0 Wright Express COM 98233q105 50686 1332451.000SH SOLE 1246021 0 0 86430 Wright Medical Group, Inc. COM 98235T107 894 50000.000SH SOLE 50000 0 0 0 Wyndham Worldwide COM 98310w108 54484 1911049.000SH SOLE 1809849 0 0 101200 Zale Corp COM 988858106 399 140000.000SH SOLE 140000 0 0 0 Zep Inc. COM 98944b108 27253 1814445.000SH SOLE 1785445 0 0 29000 Markwest Energy Partners LP UNIT LTD PARTN 570759100 204 4450.000 SH SOLE 4450 0 0 0 Vanguard Bond Index FD Inc TOTAL BND MRKT 921937835 22349 2026198.046SH SOLE 2026198.046 0 0 0