The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 MANAGER SOLE SHARED NONE
AZZ COMMON STOCK 002474104 223 5,000 SH   SOLE   5,000 0 0
ANCHOR COMMON STOCK 032838104 1,874 99,961 SH   SOLE   99,961 0 0
ARROW ELECTRONICS INC COMMON STOCK 042735100 261 4,400 SH   SOLE   4,400 0 0
ASHFORD HOSPITALITY COMMON STOCK 044103109 284 25,200 SH   SOLE   25,200 0 0
BNC COMMON STOCK 05566T101 218 12,600 SH   SOLE   12,600 0 0
BARNES GROUP INC COMMON STOCK 067806109 227 5,900 SH   SOLE   5,900 0 0
BELDEN COMMON STOCK 077454106 271 3,900 SH   SOLE   3,900 0 0
CACI INTERNATIONAL COMMON STOCK 127190304 203 2,752 SH   SOLE   2,752 0 0
CAMBREX CORP COMMON STOCK 132011107 276 14,652 SH   SOLE   14,652 0 0
COLUMBIA COMMON STOCK 197236102 221 7,752 SH   SOLE   7,752 0 0
COMMERCIAL VEHICLE GROUP COMMON STOCK 202608105 165 18,100 SH   SOLE   18,100 0 0
DARLING COMMON STOCK 237266101 210 10,500 SH   SOLE   10,500 0 0
ESTERLINE TECHNOLOGIES CORP. COMMON STOCK 297425100 242 2,276 SH   SOLE   2,276 0 0
GAMESTOP CORPORATION COMMON STOCK 36467W109 282 6,852 SH   SOLE   6,852 0 0
GRANITE CONSTRUCTION COMPANY COMMON STOCK 387328107 224 5,600 SH   SOLE   5,600 0 0
GRIFFON COMMON STOCK 398433102 147 12,300 SH   SOLE   12,300 0 0
GROUP 1 AUTOMOTIVE COMMON STOCK 398905109 266 4,052 SH   SOLE   4,052 0 0
INVACARE COMMON STOCK 461203101 210 11,000 SH   SOLE   11,000 0 0
JP MORGAN COMMON STOCK 46625H100 26 433 SH   SOLE   433 0 0
JP MORGAN COMMON STOCK 46625H100 1,404 23,122 SH   OTR   0 0 23,122
KMG COMMON STOCK 482564101 194 12,400 SH   SOLE   12,400 0 0
MANITOWOC CO INC COMMON STOCK 563571108 384 12,200 SH   SOLE   12,200 0 0
NCR CORPORATION COMMON STOCK 62886E108 327 8,952 SH   SOLE   8,952 0 0
NEWMARKET COMMON STOCK 651587107 332 852 SH   SOLE   852 0 0
SM ENERGY COMMON STOCK 78454L100 228 3,200 SH   SOLE   3,200 0 0
TTM TECHNOLOGIES INC COMMON STOCK 87305R109 147 17,444 SH   SOLE   17,444 0 0
WAL-MART COMMON STOCK 931142103 772 10,097 SH   SOLE   10,097 0 0
MONA VIE INC CAPITAL STOCK COMMON STOCK CS0002598 772 12,861,861 SH   SOLE   12,861,861 0 0
DAKOTA SUPPLY GROUP COMMON STOCK CS9000114 97,994 168,873 SH   SOLE   0 0 168,873
CARVER MACHINE WORKS COMMON STOCK CS9000122 2,304 80,285 SH   SOLE   0 0 80,285
EQUIPOISE CORPORATION & COMMON STOCK CS9000189 3,303 79,233 SH   SOLE   0 0 79,233
MBW COMPANY CLASS A COMMON STOCK COMMON STOCK CS9000197 2,500 120,000 SH   SOLE   0 0 120,000
SHIFT COMMUNICATIONS COMMON STOCK CS9000437 1,920 20,000 SH   SOLE   0 0 20,000
HAVILAND ENTERPRISES COMMON STOCK CS9000569 18,587 853,395 SH   SOLE   0 0 853,395
TIMBERLINE BANCORPORATION COMMON STOCK CS9000775 140 200,000 SH   SOLE   200,000 0 0
AQUA METRIC SALES COMMON STOCK CS9000890 500 1,000,000 SH   SOLE   0 0 1,000,000
QUALITY CONCRETE COMMON STOCK CS9000940 6,905 500,000 SH   SOLE   0 0 500,000
CRAMER & ASSOCIATES COMMON STOCK SU0013957 6,838 50,283 SH   SOLE   50,283 0 0