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
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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
1-800-FLOWERS.COM, Inc. COM 68243Q106 4,001 811,463 SH   SOLE   417,288 0 394,175
Alere Inc. COM 01449J105 24,556 803,286 SH   SOLE   636,633 0 166,653
Alleghany Corp. COM 17175100 16,756 40,904 SH   SOLE   30,494 0 10,410
Allegheny Technologies Inc. COM 01741R102 23,056 755,448 SH   SOLE   606,899 0 148,549
Brightcove, Inc. COM 10921T101 2,329 207,022 SH   SOLE   207,022 0 0
Builders Firstsource Inc. COM 12008R107 2,100 357,090 SH   SOLE   357,090 0 0
CGI Group Inc. COM 39945C109 5,950 169,516 SH   SOLE   28,378 0 141,138
Ciber Inc. COM 17163B102 11,673 3,537,183 SH   SOLE   2,792,093 0 745,090
Corning Inc. COM 219350105 22,056 1,511,707 SH   SOLE   1,170,425 0 341,282
Devon Energy Corp. COM 25179M103 22,579 390,916 SH   SOLE   307,150 0 83,766
E*Trade Financial Corp. COM 269246401 23,197 1,405,863 SH   SOLE   1,085,015 0 320,848
Encana Corp. COM 292505104 18,348 1,058,767 SH   SOLE   830,219 0 228,548
Endeavour Intl Corp. COM 29259G200 22,141 4,138,501 SH   SOLE   3,523,739 0 614,762
Endo Health Solutions Inc. COM 29264F205 22,912 504,215 SH   SOLE   381,116 0 123,099
Fidelity National Financial In COM 31620R105 18,463 694,114 SH   SOLE   542,834 0 151,280
Hillshire Brands Co. COM 432589109 3,039 98,877 SH   SOLE   18,691 0 80,186
Howard Hughes Corp. COM 44267D107 30,787 273,978 SH   SOLE   215,650 0 58,328
ITT Corp. COM 450911201 1,116 31,047 SH   SOLE   10,372 0 20,675
Interpublic Group Cos. COM 460690100 13,998 814,813 SH   SOLE   599,633 0 215,180
Intrepid Potash, Inc. COM 46121Y102 9,815 625,987 SH   SOLE   453,010 0 172,977
Kinder Morgan Mgmt LLC COM 49455U100 3,422 45,647 SH   SOLE   9,571 0 36,076
Layne Christensen Co. COM 521050104 1,780 89,187 SH   SOLE   89,187 0 0
Leapfrog Enterprises, Inc. COM 52186N106 22,317 2,369,148 SH   SOLE   1,849,151 0 519,997
Owens Illinois Inc. COM 690768403 20,172 671,968 SH   SOLE   511,574 0 160,394
Pacific Sunwear of California COM 694873100 1,890 628,059 SH   SOLE   628,059 0 0
Pfizer Inc. COM 717081103 21,999 765,857 SH   SOLE   602,762 0 163,095
Staples Inc. COM 855030102 24,707 1,686,463 SH   SOLE   1,352,393 0 334,070
Stoneridge Inc. COM 86183P102 1,263 116,843 SH   SOLE   116,843 0 0
SunCoke Energy Inc. COM 86722A103 23,561 1,385,968 SH   SOLE   1,124,908 0 261,060
The First Marblehead Corp. COM 320771108 1,463 1,784,260 SH   SOLE   1,782,260 0 2,000
Tupperware Brands Corp. COM 899896104 2,476 28,664 SH   SOLE   5,061 0 23,603
Unitedhealth Group Inc. COM 91324P102 2,504 34,974 SH   SOLE   3,277 0 31,697
Universal Technical Institute, COM 913915104 1,315 108,416 SH   SOLE   108,416 0 0
VeriFone Systems Inc. COM 92342Y109 24,677 1,079,471 SH   SOLE   832,317 0 247,154
Weyerhaeuser Co. COM 962166104 4,196 146,577 SH   SOLE   24,863 0 121,714
iStar Financial Inc. COM 45031U101 16,489 1,369,536 SH   SOLE   1,099,984 0 269,552