<SEC-DOCUMENT>0000884589-09-000002.txt : 20121218
<SEC-HEADER>0000884589-09-000002.hdr.sgml : 20121218
<ACCEPTANCE-DATETIME>20090213135758
ACCESSION NUMBER:		0000884589-09-000002
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081231
FILED AS OF DATE:		20090213
DATE AS OF CHANGE:		20121218
EFFECTIVENESS DATE:		20090213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KENNEDY CAPITAL MANAGEMENT INC
		CENTRAL INDEX KEY:			0000884589
		IRS NUMBER:				431225960
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-03133
		FILM NUMBER:		09601430

	BUSINESS ADDRESS:	
		STREET 1:		10829 OLIVE BLVD
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63141
		BUSINESS PHONE:		3144320897

	MAIL ADDRESS:	
		STREET 1:		10829 OLIVE BLVD.
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63141

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KENNEDY CAPITAL MANAGEMENT INC
		DATE OF NAME CHANGE:	19970106
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-NT
<SEQUENCE>1
<FILENAME>in13f1208.txt
<DESCRIPTION>13F FOR 12/31/2008
<TEXT>
<TABLE> <S> <C>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

                     FORM 13F

                FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  December 31, 2008

Check here if Amendment [   ]; Amendment Number:
This Admendment  (Check only one.):  [    ]  is a restatement.
				     [    ]  adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:     Kennedy Capital Management, Inc.
Address:  10829 Olive Blvd.
          St. Louis, MO  63141

13F File Number:  28-3133

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:  Stephen A. Mace
Title:  Chief Operating Officer
Phone:  314-432-0400
Signature, Place, and Date of Signing:


Stephen A. Mace,       St. Louis, MO      February 13, 2009

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.

<PAGE>
			FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:         0

Form 13F Information Table Entry Total:    692

Form 13F Information Table Value Total:    $2,326,260,000


List of Other Included Managers:

None


                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S>                            <C>              <C>       <C>      <C>      <C> <C>  <C>     <C>          <C>      <C>      <C>
3Com Corp.                     COM              885535104     3276  1436660 SH       Sole                  1436660
8x8 Inc.                       COM              282914100      333   696531 SH       Sole                   497131            199400
A C Moore Arts & Crafts Inc.   COM              00086T103       70    50000 SH       Sole                    50000
AAON Inc.                      COM              000360206    12549   601005 SH       Sole                   594870              6135
AAR Corp.                      COM              000361105     5172   280948 SH       Sole                   275348              5600
Abatix Corp.                   COM              002564102      144    48055 SH       Sole                    48055
Abington Bancorp Inc.          COM              00350L109      446    48200 SH       Sole                    32050             16150
Actuant Corp.                  CLA              00508X203    15948   838506 SH       Sole                   828256             10250
Actuate Corp.                  COM              00508B102     3556  1201283 SH       Sole                  1188933             12350
ADC Telecommunications Inc.    COM              000886309    11100  2029286 SH       Sole                  2008136             21150
Adeona Pharmaceuticals Inc.    COM              00685T108      100   622634 SH       Sole                   622634
Adept Tech Inc.                COM              006854202       38    10000 SH       Sole                    10000
Adtran Inc.                    COM              00738A106      921    61915 SH       Sole                    48285             13630
Advanced Analogic Technologies COM              00752J108     1512   500710 SH       Sole                   500710
Advanta Corp.                  CLA              007942105      698   601854 SH       Sole                   595579              6275
Aetrium Inc.                   COM              00817R103      236   120874 SH       Sole                   120874
AGCO Corp.                     COM              001084102     3586   152000 SH       Sole                   152000
AGL Res Inc.                   COM              001204106     6623   211250 SH       Sole                   204650              6600
Agrium Inc.                    COM              008916108     5478   160500 SH       Sole                   160500
Akorn Inc.                     COM              009728106     2146   932976 SH       Sole                   932976
Alamo Grp Inc.                 COM              011311107     4625   309361 SH       Sole                   309361
Albemarle Corp.                COM              012653101     1394    62526 SH       Sole                    62117               409
Alexandria Real Estate Eq Inc. COM              015271109     3681    61000 SH       Sole                    61000
Allete Inc.                    COM              018522300    16342   506427 SH       Sole                   502927              3500
Alliance Fiber Optic Products  COM              018680108       64   100000 SH       Sole                   100000
Alliant Techsystems Inc.       COM              018804104     3560    41510 SH       Sole                    41245               265
Allied Defense Grp Inc.        COM              019118108       71    11400 SH       Sole                    11400
Allied Healthcare Intl         COM              01923A109       80    72956 SH       Sole                    72956
Allion Healthcare Inc.         COM              019615103     3351   813440 SH       Sole                   813440
Allis-Chalmers Energy Inc.     COM              019645506      873   158800 SH       Sole                   158800
Allscript Misys Healtcar Sol   COM              01988P108      595    60000 SH       Sole                    55950              4050
Alon USA Energy Inc.           COM              020520102     3856   421400 SH       Sole                   421400
Alphatec Hldgs Inc.            COM              02081G102     1006   428066 SH       Sole                   428066
Amcore Finl Inc.               COM              023912108      492   135973 SH       Sole                   135973
Amedisys Inc.                  COM              023436108    10720   259315 SH       Sole                   257015              2300
America Service Grp Inc.       COM              02364L109     2513   234857 SH       Sole                   234857
American Campus Cmntys Inc.    COM              024835100     2054   100300 SH       Sole                    97900              2400
American Eagle Outfitters Inc. COM              02553E106    17176  1835060 SH       Sole                  1812948             22112
American Eqty Invt Life Hldg   COM              025676206     4870   695712 SH       Sole                   689112              6600
American Italian Pasta Co.     CLA              027070101     5984   267850 SH       Sole                   267850
American Medical Sys Hldg Inc. COM              02744M108     3643   405200 SH       Sole                   401950              3250
American Safety Insurance Hldg COM              G02995101     8265   625642 SH       Sole                   619342              6300
American Vanguard Corp.        COM              030371108     2150   183764 SH       Sole                   179394              4370
Amerigroup Corp.               COM              03073T102     5440   184285 SH       Sole                   181385              2900
Ameriprise Finl Inc.           COM              03076C106     2603   111413 SH       Sole                   110734               679
Ameristar Casinos Inc.         COM              03070Q101     1237   143202 SH       Sole                   137502              5700
Ampco-Pittsburgh Corp.         COM              032037103     1411    65000 SH       Sole                    65000
Amsurg Corp.                   COM              03232P405     4481   191985 SH       Sole                   187430              4555
Anadigics Inc.                 COM              032515108      371   250697 SH       Sole                   235697             15000
Analogic Corp.                 COM              032657207     2801   102688 SH       Sole                    92688             10000
Anaren Inc.                    COM              032744104    19711  1649447 SH       Sole                  1612392             37055
Andersons Inc.                 COM              034164103     1368    83000 SH       Sole                    83000
AngioDynamics Inc.             COM              03475V101     1947   142200 SH       Sole                   142200
AnnTaylor Stores Corp.         COM              036115103     2781   481920 SH       Sole                   476370              5550
Antrim Energy Inc.             COM              037243102      110   312200 SH       Sole                   312200
Anworth Mortgage Asset Corp.   COM              037347101     3642   566400 SH       Sole                   566400
AON Corp.                      COM              037389103     3615    79131 SH       Sole                    78615               516
Applied Signal Tech Inc.       COM              038237103     1066    59400 SH       Sole                    49834              9566
Arctic Cat Inc.                COM              039670104     3239   676231 SH       Sole                   669281              6950
Argon ST Inc.                  COM              040149106     2868   152080 SH       Sole                   140680             11400
Arris Grp Inc.                 COM              04269Q100     4685   589282 SH       Sole                   589282
Art's Way Manufacturing Co.    COM              043168103      329    90870 SH       Sole                    90870
Ashford Hospitality Trust      COM              044103109     1133   985350 SH       Sole                   985350
Aspen Insurance Hldgs Ltd.     COM              G05384105     2466   101680 SH       Sole                   101680
Astec Industries Inc.          COM              046224101    12668   404347 SH       Sole                   400199              4148
Astoria Finl Corp.             COM              046265104      313    19000 SH       Sole                    12400              6600
Astronics Corp.                COM              046433108      739    83011 SH       Sole                    74411              8600
Asyst Technologies Inc.        COM              04648X107      274  1094887 SH       Sole                  1094887
ATC Tech Corp.                 COM              00211W104     3697   252728 SH       Sole                   227063             25665
Atmos Energy Corp.             COM              049560105     1932    81500 SH       Sole                    76000              5500
ATP Oil & Gas Corp.            COM              00208J108     5284   903267 SH       Sole                   898417              4850
AudioCodes Ltd.                COM              M15342104      835   479880 SH       Sole                   479880
Autoliv Inc.                   COM              052800109     1073    49985 SH       Sole                    49985
Avista Corp.                   COM              05379B107    12797   660327 SH       Sole                   653577              6750
Avocent Corp.                  COM              053893103    18878  1054038 SH       Sole                  1040963             13075
AXT Inc.                       COM              00246W103       64    47500 SH       Sole                    47500
B&G Foods Inc.                 CLA              05508R106     1911   353801 SH       Sole                   350051              3750
Balchem Corp.                  COM              057665200      780    31300 SH       Sole                    30550               750
Ball Corp.                     COM              058498106     2301    55322 SH       Sole                    54958               364
Bally Technologies Inc.        COM              05874B107     8149   339130 SH       Sole                   332650              6480
BancorpSouth Inc.              COM              059692103    11285   483100 SH       Sole                   478200              4900
Bank Mutual Corp.              COM              063750103     4517   391382 SH       Sole                   351772             39610
Banner Corp.                   COM              06652V109     3197   339750 SH       Sole                   336200              3550
BE Aerospace Inc.              COM              073302101     9911  1288851 SH       Sole                  1268801             20050
Bell Microproducts Inc.        COM              078137106      222   369316 SH       Sole                   369316
Benihana Inc.                  COM              082047101      153    72815 SH       Sole                    72815
Benihana Inc.                  CLA              082047200      307   146352 SH       Sole                   146352
Bill Barrett Corp.             COM              06846N104    12159   575455 SH       Sole                   551905             23550
Bio-Imaging Technologies Inc.  COM              09056N103       49    13400 SH       Sole                    13400
Bio-Rad Laboratories Inc.      CLA              090572207     6375    84645 SH       Sole                    79220              5425
Bio-Reference Laboratories Inc COM              09057G602     7233   275770 SH       Sole                   269220              6550
BioMed Realty Trust Inc.       COM              09063H107    10488   894850 SH       Sole                   877300             17550
Black Hills Corp.              COM              092113109    13177   488746 SH       Sole                   478971              9775
Blue Coat Sys Inc.             COM              09534T508      268    31954 SH       Sole                    31954
BluePhoenix Solutions Ltd.     COM              M20157109      590   320674 SH       Sole                   301424             19250
Boots & Coots Intl Well Cntl   COM              099469504      198   169500 SH       Sole                   169500
Boston Private Finl Hldg Inc.  COM              101119105     3248   474851 SH       Sole                   474851
Brady Corp.                    CLA              104674106     8799   367392 SH       Sole                   363592              3800
Brandywine Realty Trust        COM              105368203      540    70000 SH       Sole                    70000
Briggs & Stratton Corp.        COM              109043109     9138   519510 SH       Sole                   514210              5300
Brightpoint Inc.               COM              109473405      271    62395 SH       Sole                    62395
Brinker Intl Inc.              COM              109641100     3689   350000 SH       Sole                   350000
Bristow Grp Inc.               COM              110394103     2953   110210 SH       Sole                   110210
Broadcom Corp.                 CLA              111320107     1312    77293 SH       Sole                    76758               535
Brocade Communications Sys Inc COM              111621306     2363   835000 SH       Sole                   835000
Brown Shoe Co. Inc.            COM              115736100     4241   500675 SH       Sole                   494975              5700
Brunswick Corp.                COM              117043109     1671   396850 SH       Sole                   392800              4050
Bunge Ltd.                     COM              G16962105     9169   177110 SH       Sole                   177080                30
C&D Technologies Inc.          COM              124661109     1419   453500 SH       Sole                   453500
CACI Intl Inc.                 CLA              127190304     6012   133335 SH       Sole                   132185              1150
Cal-Maine Foods Inc.           COM              128030202     7095   247216 SH       Sole                   243716              3500
Cal Dive Intl Inc Del          COM              12802T101      762   117100 SH       Sole                   117100
Calavo Growers Inc.            COM              128246105     1269   110357 SH       Sole                   102037              8320
Callaway Golf Co.              COM              131193104     2293   246781 SH       Sole                   240896              5885
Callon Petroleum Co.           COM              13123X102     1037   398812 SH       Sole                   398812
Campbell Soup Co.              COM              134429109     2553    85084 SH       Sole                    84520               564
Cantel Medical Corp.           COM              138098108     6918   471554 SH       Sole                   466704              4850
CapLease Inc.                  COM              140288101      172    99600 SH       Sole                    99600
Capstead Mortgage Corp.        COM              14067E506      710    65950 SH       Sole                    61600              4350
Cardiac Science Corp.          COM              14141A108     1401   186845 SH       Sole                   184945              1900
Cardinal Finl Corp.            COM              14149F109     1765   310260 SH       Sole                   307110              3150
Carrizo Oil & Gas Inc.         COM              144577103     2794   173513 SH       Sole                   171763              1750
Carver Bancorp Inc.            COM              146875109      178    35675 SH       Sole                    35675
Casey's General Stores Inc.    COM              147528103    10513   461719 SH       Sole                   457469              4250
Catalyst Health Solutions Inc. COM              14888B103     5306   217926 SH       Sole                   212676              5250
CCA Industries Inc.            COM              124867102      237    66890 SH       Sole                    66890
Ceco Environmental Corp.       COM              125141101       26    10763 SH       Sole                    10763
Cedar Shopping Centers Inc.    COM              150602209     8213  1160061 SH       Sole                  1153661              6400
Center Finl Corp.              COM              15146E102     1325   214817 SH       Sole                   214817
CenterPoint Energy Inc.        COM              15189T107     3788   300170 SH       Sole                   298132              2038
Century Casinos Inc.           COM              156492100       36    35000 SH       Sole                    35000
Cephalon Inc.                  COM              156708109     5031    65304 SH       Sole                    64783               521
CF Industries Hldgs Inc.       COM              125269100     4512    91780 SH       Sole                    91453               327
Chart Inds Inc.                COM              16115Q308      749    70435 SH       Sole                    68785              1650
Check Point Software Tech      COM              M22465104     1447    76190 SH       Sole                    75682               508
Chesapeake Utilities Corp.     COM              165303108      434    13800 SH       Sole                     9250              4550
Chico's FAS Inc.               COM              168615102    10346  2475050 SH       Sole                  2455750             19300
Church & Dwight Co.            COM              171340102     3071    54721 SH       Sole                    54420               301
Citizens Republic Bancorp Inc. COM              174420109     7721  2590882 SH       Sole                  2590882
CNA Surety Corp.               COM              12612L108    10597   551938 SH       Sole                   546288              5650
CNH Global N.V.                COM              N20935206      490    31440 SH       Sole                    31165               275
CoBiz Finl Inc.                COM              190897108      479    49222 SH       Sole                    49222
Cogdell Spencer Inc.           COM              19238U107      312    33367 SH       Sole                    26392              6975
Colonial BancGroup Inc.        COM              195493309     1914   924650 SH       Sole                   918200              6450
Columbus McKinnon Corp.        COM              199333105     9949   728868 SH       Sole                   721393              7475
Comerica Inc.                  COM              200340107     5341   269059 SH       Sole                   268112               947
Commercial Metals Co.          COM              201723103     5270   444000 SH       Sole                   439450              4550
Community Bankers Trust Corp.  COM              203612106      746   248821 SH       Sole                   248821
Community Trust Bancorp Inc.   COM              204149108     2885    78500 SH       Sole                    78500
Compass Minerals Intl          COM              20451N101     4329    73800 SH       Sole                    72050              1750
Comstock Res Inc.              COM              205768203     4267    90312 SH       Sole                    89512               800
Comtech Telecomm Corp.         COM              205826209     1329    29000 SH       Sole                    26100              2900
ConAgra Foods Inc.             COM              205887102     5389   326597 SH       Sole                   324443              2154
Connecticut Water Service Inc. COM              207797101      963    40782 SH       Sole                    35132              5650
Conseco Inc.                   COM              208464883      833   160750 SH       Sole                   140600             20150
Continental Res Inc.           COM              212015101     1046    50500 SH       Sole                    50500
Cooper Tire & Rubr Co.         COM              216831107     1935   314150 SH       Sole                   314150
Corn Products Intl Inc.        COM              219023108     1112    38550 SH       Sole                    35950              2600
Corporate Office Pptys Tr      COM              22002T108    12047   392409 SH       Sole                   385259              7150
Courier Corp.                  COM              222660102     9033   504634 SH       Sole                   499469              5165
CPI Corp.                      COM              125902106      267    76200 SH       Sole                    76200
CPI Intl Inc.                  COM              12618M100      554    64003 SH       Sole                    64003
CRA Intl Inc.                  COM              12618T105     2102    78055 SH       Sole                    78055
Cracker Barrel Old Cntry Store COM              22410J106     1642    79735 SH       Sole                    79735
CRM Hldgs Ltd.                 COM              G2554P103      863   507747 SH       Sole                   507747
Crown Crafts Inc.              COM              228309100      212   100000 SH       Sole                   100000
Curtiss-Wright Corp.           COM              231561101     7234   216660 SH       Sole                   215110              1550
Daktronics Inc.                COM              234264109     6574   702363 SH       Sole                   695163              7200
Dana Hldg Corp.                COM              235825205     2969  4012542 SH       Sole                  3971392             41150
Darling Intl Inc.              COM              237266101      523    95200 SH       Sole                    95200
Datalink Corp.                 COM              237934104       54    16877 SH       Sole                    16877
DayStar Technologies Inc.      COM              23962Q100      431   458898 SH       Sole                   409798             49100
Delek US Hldgs Inc.            COM              246647101      794   150000 SH       Sole                   150000
Deluxe Corp.                   COM              248019101     5728   382858 SH       Sole                   382858
Denbury Res Inc.               COM              247916208     4806   440136 SH       Sole                   433841              6295
Denny's Corp.                  COM              24869P104      307   154500 SH       Sole                   104905             49595
Diamondrock Hospitality Co.    COM              252784301     2465   486110 SH       Sole                   481110              5000
Diebold Inc.                   COM              253651103      702    25000 SH       Sole                    23350              1650
Digital Realty Trust Inc.      COM              253868103     7789   237095 SH       Sole                   234565              2530
Discover Finl Svcs             COM              254709108     2269   238069 SH       Sole                   236606              1463
Dollar Tree Inc.               COM              256746108     1701    40810 SH       Sole                    40810
Donaldson Co. Inc.             COM              257651109     1157    34395 SH       Sole                    34395
Donegal Grp Inc.               CLA              257701201     5366   319963 SH       Sole                   319963
Dorman Products Inc.           COM              258278100     1553   117647 SH       Sole                   117647
DPL Inc.                       COM              233293109     7477   327382 SH       Sole                   326266              1116
Dril-Quip Inc.                 COM              262037104     5790   282300 SH       Sole                   276650              5650
DST Systems Inc.               COM              233326107     1185    31190 SH       Sole                    31190
Duke Realty Corp.              COM              264411505     2882   263000 SH       Sole                   263000
Dupont Fabros Tech Inc.        COM              26613Q106      154    74400 SH       Sole                    74400
Dynamics Research Corp.        COM              268057106     3257   407070 SH       Sole                   355715             51355
DynCorp Intl Inc.              CLA              26817C101     4274   281750 SH       Sole                   275050              6700
Eagle Bulk Shipping Inc.       COM              Y2187A101     1959   287220 SH       Sole                   287220
East West Bancorp Inc.         COM              27579R104    10145   635250 SH       Sole                   629700              5550
Eastern Virginia Bankshs Inc.  COM              277196101      654    74237 SH       Sole                    74237
EastGroup Pptys Inc.           COM              277276101     3322    93380 SH       Sole                    93380
ECB Bancorp Inc.               COM              268253101     1435    89620 SH       Sole                    89620
Edgewater Tech Inc.            COM              280358102     1103   425764 SH       Sole                   425764
Einstein Noah Rest Grp Inc.    COM              28257U104      423    73505 SH       Sole                    73505
Emergency Medical Svcs Corp.   CLA              29100P102     3294    89983 SH       Sole                    89983
Encore Bancshares Inc.         COM              29255V201      121    11000 SH       Sole                    11000
Energen Corp.                  COM              29265N108     9550   325589 SH       Sole                   322239              3350
Ennis Inc.                     COM              293389102     3163   261150 SH       Sole                   261150
Entropic Communications Inc.   COM              29384R105      110   219145 SH       Sole                   219145
Epicor Software Corp.          COM              29426L108     5547  1155713 SH       Sole                  1137678             18035
Esterline Technologies Corp.   COM              297425100    10724   283020 SH       Sole                   277320              5700
Euroseas Ltd.                  COM              Y23592200      556   129239 SH       Sole                   129239
Everest Re Group Ltd.          COM              G3223R108     1920    25222 SH       Sole                    25048               174
Evolving Systems Inc.          COM              30049R100      795   994322 SH       Sole                   994322
Fair Isaac Corp.               COM              303250104     1028    61000 SH       Sole                    60350               650
Fairchild Semiconductor Intl   COM              303726103     5056  1033950 SH       Sole                  1025850              8100
FCStone Grp Inc.               COM              31308T100     3461   781252 SH       Sole                   769647             11605
FGX Intl Hldgs Ltd             COM              G3396L102     2365   172150 SH       Sole                   168050              4100
Fifth Third Bancorp            COM              316773100     3235   391700 SH       Sole                   391700
First American Corp.           COM              318522307     3351   116000 SH       Sole                   116000
First Comwlth Finl Corp Pa     COM              319829107     1219    98450 SH       Sole                    98450
First Defiance Finl Corp.      COM              32006W106      188    24287 SH       Sole                    24287
First Horizon National Corp.   COM              320517105    10383   982297 SH       Sole                   972268             10029
First Industrial Realty Trust  COM              32054K103     1641   217300 SH       Sole                   217300
First Merchants Corp.          COM              320817109     3140   141370 SH       Sole                   137970              3400
First Mercury Finl Corp.       COM              320841109     3208   224949 SH       Sole                   222599              2350
First Midwest Bancorp          COM              320867104      349    17500 SH       Sole                    12000              5500
First Niagara Finl Grp         COM              33582V108     4936   305249 SH       Sole                   282914             22335
First Potomac Realty Trust     COM              33610F109     7181   772189 SH       Sole                   767839              4350
Firstmerit Corp.               COM              337915102     2276   110533 SH       Sole                   109383              1150
Five Star Quality Care Inc.    COM              33832D106     1111   726100 SH       Sole                   726100
Flowers Foods Inc.             COM              343498101     2205    90515 SH       Sole                    88280              2235
FMC Corp.                      COM              302491303     9084   203086 SH       Sole                   202880               206
Forest Laboratories Inc.       COM              345838106     3766   147868 SH       Sole                   146901               967
Fossil Inc.                    COM              349882100     3173   190008 SH       Sole                   183408              6600
Fred's Inc.                    COM              356108100     1619   150465 SH       Sole                   150465
FreightCar America Inc.        COM              357023100     4110   224956 SH       Sole                   222656              2300
Frequency Electronics Inc.     COM              358010106       41    14335 SH       Sole                    14335
Frontier Oil Corp.             COM              35914P105     7298   577800 SH       Sole                   573700              4100
Frozen Food Express Ind.       COM              359360104     1235   217377 SH       Sole                   217377
Fuel Systems Solutions Inc.    COM              35952W103     1939    59200 SH       Sole                    57800              1400
Fulton Finl Corp.              COM              360271100      529    55000 SH       Sole                    51300              3700
G-III Apparel Grp Ltd.         COM              36237H101     3190   499264 SH       Sole                   499264
GameTech Intl Inc.             COM              36466D102      265   182500 SH       Sole                   182500
Gardner Denver Inc.            COM              365558105     1703    72965 SH       Sole                    72965
Gasco Energy Inc.              COM              367220100      399  1023000 SH       Sole                  1023000
Gastar Exploration Ltd.        COM              367299104       62   184600 SH       Sole                   184600
GenCorp Inc.                   COM              368682100     4059  1103055 SH       Sole                  1025700             77355
General Cable Corp.            COM              369300108     3869   218696 SH       Sole                   218696
Genesco Inc.                   COM              371532102    10448   617486 SH       Sole                   611161              6325
Gentiva Health Svcs Inc.       COM              37247A102      863    29500 SH       Sole                    29500
Geo Grp Inc.                   COM              36159R103     2439   135300 SH       Sole                   135300
GeoEye Inc.                    COM              37250W108      759    39480 SH       Sole                    37380              2100
Geokinetics Inc.               COM              372910307      148    59887 SH       Sole                    59887
GeoPharma Inc.                 COM              37250A106      303   378644 SH       Sole                   378644
GeoResources Inc.              COM              372476101      261    30000 SH       Sole                    30000
Gevity HR Inc.                 COM              374393106      145    95883 SH       Sole                    90583              5300
Gilat Satellite Networks Ltd.  COM              M51474118     2564   982445 SH       Sole                   930195             52250
Glacier Bancorp Inc.           COM              37637Q105     2834   149000 SH       Sole                   147500              1500
Global Industries Ltd.         COM              379336100      953   273018 SH       Sole                   273018
Goldleaf Finl Solutions Inc.   COM              38144H208      448   605424 SH       Sole                   599074              6350
Goodrich Corp.                 COM              382388106     3377    91220 SH       Sole                    91220
GP Strategies Corp.            COM              36225V104      585   129650 SH       Sole                   129650
GrafTech Intl Ltd.             COM              384313102    12071  1450815 SH       Sole                  1444565              6250
Grand Canyon Education Inc.    COM              38526M106      304    16182 SH       Sole                    15082              1100
GraphOn Corp.                  COM              388707101      224  3199498 SH       Sole                  2891898            307600
Gray Television Inc.           COM              389375106       72   180000 SH       Sole                   180000
Great Plains Energy Inc.       COM              391164100     6014   311100 SH       Sole                   311100
Great Southern Bancorp Inc.    COM              390905107     5889   514745 SH       Sole                   509440              5305
Greatbatch Inc.                COM              39153L106     3239   122393 SH       Sole                   119643              2750
Green Bankshares Inc.          COM              394361208     4350   321288 SH       Sole                   317961              3327
Greif Inc.                     CLA              397624107     2583    77265 SH       Sole                    77265
GSI Tech Inc.                  COM              36241U106     1923   701952 SH       Sole                   701952
GT Solar Intl Inc.             COM              3623E0209     2306   797879 SH       Sole                   797879
GulfMark Offshore Inc.         COM              402629109    13618   572420 SH       Sole                   559270             13150
Gulfport Energy Corp.          COM              402635304      387    98000 SH       Sole                    98000
H.B. Fuller Co.                COM              359694106     4778   296556 SH       Sole                   293556              3000
Hancock Fabrics Inc.           COM              409900107       58   116500 SH       Sole                   116500
Handleman Co.                  COM              410252100      200  1249109 SH       Sole                  1011249            237860
Hardinge Inc.                  COM              412324303     1103   273137 SH       Sole                   273137
Harman Intl Ind Inc.           COM              413086109     2161   129150 SH       Sole                   127850              1300
Hastings Entertainment Inc.    COM              418365102      346   200016 SH       Sole                   200016
Hatteras Finl Corp.            COM              41902R103     3538   133000 SH       Sole                   131250              1750
Hauppauge Digital Inc.         COM              419131107       56    50000 SH       Sole                    50000
Hawaiian Hldgs Inc.            COM              419879101      490    76874 SH       Sole                    76874
Haynes Intl Inc.               COM              420877201     7722   313635 SH       Sole                   303960              9675
Health Care REIT Inc.          COM              42217K106    11446   271226 SH       Sole                   267336              3890
Healthcare Realty Trust Inc.   COM              421946104     8834   376230 SH       Sole                   371330              4900
HealthSpring Inc.              COM              42224N101     7116   356346 SH       Sole                   347866              8480
HealthTronics Inc.             COM              42222L107     2642  1174043 SH       Sole                  1174043
Healthways Inc.                COM              422245100     1010    87950 SH       Sole                    82150              5800
Heartland Pmt Sys Inc.         COM              42235N108     2080   118850 SH       Sole                   116000              2850
Heico Corp.                    CLA              422806208     1814    62640 SH       Sole                    62640
Helix Energy Sol Grp Inc.      COM              42330P107     3321   458750 SH       Sole                   454050              4700
Helmerich & Payne Inc.         COM              423452101     2111    92787 SH       Sole                    92162               625
Herbalife Ltd.                 COM              G4412G101      377    17400 SH       Sole                    16250              1150
Heritage Commerce Corp.        COM              426927109     6127   545107 SH       Sole                   539557              5550
Hersha Hospitality Trust       CLA              427825104     2562   853950 SH       Sole                   847250              6700
Hexcel Corp.                   COM              428291108     3956   535300 SH       Sole                   522420             12880
Hibbett Sports Inc.            COM              428567101     8891   565962 SH       Sole                   560162              5800
Hickory Tech Corp.             COM              429060106      966   177649 SH       Sole                   177649
Hill-Rom Hldgs Inc.            COM              431475102     8232   500150 SH       Sole                   495050              5100
Himax Technologies Inc.        ADR              43289P106      540   335349 SH       Sole                   335349
Horace Mann Educators Corp.    COM              440327104     7511   817321 SH       Sole                   798806             18515
Horizon Bancorp (Indiana)      COM              440407104      172    13770 SH       Sole                    13770
Hornbeck Offshore Svcs Inc.    COM              440543106     2365   144750 SH       Sole                   141300              3450
Horsehead Hldg Corp.           COM              440694305      333    70900 SH       Sole                    70900
Host Hotels & Resorts Inc.     COM              44107P104     1611   212805 SH       Sole                   211379              1426
HQ Sustainable Maritime Ind    COM              40426A208      116    14800 SH       Sole                    14800
HRPT Pptys Trust               COM              40426W101     2362   701000 SH       Sole                   701000
Hudson Technologies Inc.       COM              444144109      447   330823 SH       Sole                   330823
Huntington Bancshares Inc.     COM              446150104     5692   743100 SH       Sole                   735450              7650
Hurco Cos.                     COM              447324104     1868   155670 SH       Sole                   155670
Huron Consulting Grp Inc.      COM              447462102     3603    62915 SH       Sole                    61780              1135
Hutchinson Tech Inc.           COM              448407106     2077   596768 SH       Sole                   590668              6100
IberiaBank Corp.               COM              450828108    14491   301905 SH       Sole                   293115              8790
ICF Intl Inc.                  COM              44925C103     3863   157237 SH       Sole                   148037              9200
ICO Inc.                       COM              449293109      253    80000 SH       Sole                    80000
Iconix Brand Grp Inc.          COM              451055107     1924   196750 SH       Sole                   196750
ICU Medical Inc.               COM              44930G107     6337   191226 SH       Sole                   186676              4550
IDEX Corp.                     COM              45167R104    12880   533327 SH       Sole                   526477              6850
II-VI Inc.                     COM              902104108     5591   292863 SH       Sole                   291468              1395
Immucor Inc.                   COM              452526106     3085   116070 SH       Sole                   116070
Independent Bank Corp Mich     COM              453838104       91    42084 SH       Sole                    42084
Industrial Svcs of America     COM              456314103      793   145578 SH       Sole                   145578
Ingles Markets Inc.            CLA              457030104     1511    85905 SH       Sole                    85905
Innophos Hldgs Inc.            COM              45774N108     4578   231100 SH       Sole                   231100
Innospec Inc.                  COM              45768S105     1384   234989 SH       Sole                   224819             10170
Integral Systems Inc.          COM              45810H107     2290   190000 SH       Sole                   184550              5450
Integramed Amer Inc.           COM              45810N302       68    10000 SH       Sole                    10000
Integrated Device Tech Inc.    COM              458118106     2804   499900 SH       Sole                   494800              5100
Inter Parfums Inc.             COM              458334109     5922   771069 SH       Sole                   757876             13193
International Bancshares Corp. COM              459044103    11159   511197 SH       Sole                   505942              5255
International Coal Grp Inc.    COM              45928H106      563   244700 SH       Sole                   244700
Intertape Polymer Grp Inc.     COM              460919103      395   541000 SH       Sole                   541000
Interwoven Inc.                COM              46114T508    10985   871787 SH       Sole                   858287             13500
Intuit Inc.                    COM              461202103     3112   130796 SH       Sole                   129918               878
inVentiv Health Inc.           COM              46122E105     7151   619650 SH       Sole                   615350              4300
Inventure Grp Inc.             COM              461214108       82    50000 SH       Sole                    50000
Inverness Medical Innovations  COM              46126P106      387    20478 SH       Sole                    20478
Invesco Ltd.                   COM              G491BT108     2083   144274 SH       Sole                   143384               890
IPC Hldgs Ltd.                 COM              G4933P101    14315   478767 SH       Sole                   475042              3725
IPG Photonics Corp.            COM              44980X109     1890   143425 SH       Sole                   143425
Iridex Corp.                   COM              462684101      430   506086 SH       Sole                   506086
J.C. Penney Co. Inc.           COM              708160106     2024   102727 SH       Sole                   102020               707
J.M. Smucker Co.               COM              832696405     1734    40000 SH       Sole                    40000
Jack Henry & Associates Inc.   COM              426281101     8056   415021 SH       Sole                   411821              3200
JAKKS Pacific Inc.             COM              47012E106     1596    77360 SH       Sole                    77360
Jarden Corp.                   COM              471109108     5976   519629 SH       Sole                   519629
JDA Software Grp Inc.          COM              46612K108     2822   214938 SH       Sole                   212788              2150
Jo-Ann Stores Inc.             COM              47758P307     6283   405585 SH       Sole                   382305             23280
K-Swiss Inc.                   CLA              482686102     8523   747638 SH       Sole                   739953              7685
Kaiser Aluminum Corp.          COM              483007704     4673   207504 SH       Sole                   205404              2100
Kana Software Inc.             COM              483600300      107   153500 SH       Sole                   103650             49850
Kendle Intl Inc.               COM              48880L107     3780   146979 SH       Sole                   146979
Kennametal Inc.                COM              489170100     1680    75700 SH       Sole                    74900               800
Key Energy Svcs Inc.           COM              492914106      739   167600 SH       Sole                   167600
Key Tech Inc.                  COM              493143101     2912   154132 SH       Sole                   154132
Keycorp New                    COM              493267108     1172   137500 SH       Sole                   137500
Kimball Intl Inc.              CLB              494274103     4665   541817 SH       Sole                   536217              5600
King Pharmaceuticals Inc.      COM              495582108     2230   210025 SH       Sole                   208660              1365
Kite Realty Grp Trust          COM              49803T102     9903  1781120 SH       Sole                  1775970              5150
Knoll Inc.                     COM              498904200     7786   863172 SH       Sole                   854372              8800
Kodiak Oil & Gas Corp.         COM              50015Q100       94   304500 SH       Sole                   304500
Kohlberg Capital Corp.         COM              500233101      889   244269 SH       Sole                   244269
Koppers Hldgs Inc.             COM              50060P106     4048   187215 SH       Sole                   187215
Kreisler Manufacturing Corp.   COM              500773106       85    18182 SH       Sole                    18182
Laboratory Corp. of Amer Hldgs COM              50540R409     3394    52692 SH       Sole                    52285               407
LaSalle Hotel Pptys            COM              517942108      845    76445 SH       Sole                    65625             10820
Leapfrog Enterprises Inc.      CLA              52186N106     1842   526400 SH       Sole                   513900             12500
LECG Corp.                     COM              523234102       67    10000 SH       Sole                     6850              3150
LeCroy Corp.                   COM              52324W109     1368   448685 SH       Sole                   448685
Limco-Piedmont Inc.            COM              53261T109      558   184100 SH       Sole                   184100
Lincoln Electric Hldgs Inc.    COM              533900106     7573   148690 SH       Sole                   147140              1550
Liz Claiborne Inc.             COM              539320101     3291  1265950 SH       Sole                  1262750              3200
LMI Aerospace Inc.             COM              502079106     6949   611133 SH       Sole                   601178              9955
LogicVision Inc.               COM              54140W305      104   137241 SH       Sole                   137241
LookSmart Ltd.                 COM              543442503     1495   922942 SH       Sole                   776742            146200
LSB Ind Inc.                   COM              502160104     3957   475594 SH       Sole                   448744             26850
LTC Pptys Inc.                 COM              502175102     6639   327350 SH       Sole                   327350
Lufkin Ind Inc.                COM              549764108     1208    35000 SH       Sole                    35000
Macerich Co.                   COM              554382101     2346   129200 SH       Sole                   129200
Macrovision Solutions Corp.    COM              55611C108     1319   104250 SH       Sole                   104250
Magellan Health Svcs Inc.      COM              559079207      313     8000 SH       Sole                     7450               550
Maguire Pptys Inc.             COM              559775101      292   200000 SH       Sole                   200000
Maidenform Brands Inc.         COM              560305104     6035   594560 SH       Sole                   588710              5850
Manhattan Associates Inc.      COM              562750109     2101   132921 SH       Sole                   131571              1350
Manitex Intl Inc.              COM              563420108       15    15000 SH       Sole                    15000
Manitowoc Co.                  COM              563571108     8732  1008316 SH       Sole                  1003816              4500
Marlin Business Svcs Corp.     COM              571157106      628   240466 SH       Sole                   240466
Martek Biosciences Corp.       COM              572901106     2441    80550 SH       Sole                    75050              5500
Marvell Tech Grp Ltd.          COM              G5876H105       78    11645 SH       Sole                    11150               495
Matrixx Initiatives Inc.       COM              57685L105     1511    91621 SH       Sole                    89421              2200
Maximus Inc.                   COM              577933104     2004    57070 SH       Sole                    51170              5900
MDU Res Grp Inc.               COM              552690109     9352   433378 SH       Sole                   405752             27626
Meadow Vy Corp.                COM              583185103      481    60600 SH       Sole                    60600
Meadowbrook Insurance Grp Inc. COM              58319P108     5849   908240 SH       Sole                   900340              7900
Measurement Specialties Inc.   COM              583421102      452    65050 SH       Sole                    63550              1500
Medicis Pharmaceutical Corp.   COM              584690309     4140   297850 SH       Sole                   290750              7100
Medifast Inc.                  COM              58470H101     2004   363006 SH       Sole                   292046             70960
Mentor Graphics Corp.          COM              587200106     7256  1403430 SH       Sole                  1383890             19540
Mercury Computer Systems Inc.  COM              589378108     2368   375346 SH       Sole                   375346
Methode Electronics Inc.       COM              591520200     6072   900900 SH       Sole                   891650              9250
MFA Finl Inc.                  COM              55272X102     1656   281100 SH       Sole                   281100
Micron Tech Inc.               COM              595112103     3530  1337173 SH       Sole                  1331923              5250
Microsemi Corp.                COM              595137100     1618   127990 SH       Sole                   127990
Microtune Inc.                 COM              59514P109       51    25000 SH       Sole                    25000
Mid-Amer Apt Cmntys Inc.       COM              59522J103    13399   360580 SH       Sole                   357230              3350
Middlesex Water Co.            COM              596680108      647    37550 SH       Sole                    28900              8650
Mission West Pptys Inc.        COM              605203108      237    31000 SH       Sole                    20850             10150
MKS Instruments Inc.           COM              55306N104      206    13940 SH       Sole                     4090              9850
Modine Manufacturing Co.       COM              607828100     1428   293136 SH       Sole                   290136              3000
Monogram Biosciences Inc.      COM              60975U207      510   196091 SH       Sole                   196091
Montpelier Re Hldgs Ltd.       COM              G62185106     2257   134450 SH       Sole                   131250              3200
Moog Inc.                      CLA              615394202     8761   239572 SH       Sole                   237710              1862
Multimedia Games Inc.          COM              625453105      531   223082 SH       Sole                   223082
Mylan Inc.                     COM              628530107     6265   633443 SH       Sole                   633443
Nash Finch Co.                 COM              631158102     5397   120237 SH       Sole                   120237
Natco Grp Inc.                 CLA              63227W203     7582   499483 SH       Sole                   487918             11565
National City Corp.            COM              635405103     2896  1600000 SH       Sole                  1600000
National Dentex Corp.          COM              63563H109      597   131123 SH       Sole                   131123
National Finl Partners Corp.   COM              63607P208     1633   537099 SH       Sole                   537099
National Health Investors Inc. COM              63633D104     5401   196888 SH       Sole                   194838              2050
National Presto Ind Inc.       COM              637215104     4020    52202 SH       Sole                    50227              1975
National Retail Pptys Inc.     COM              637417106     5375   312705 SH       Sole                   312705
Navios Maritime Partners L.P.  COM              Y62267102      415    58100 SH       Sole                    58100
NCI Building Systems Inc.      COM              628852105     6916   424307 SH       Sole                   419907              4400
NCR Corp.                      COM              62886E108     2017   142650 SH       Sole                   138300              4350
NeoGenomics Inc.               COM              64049M209       24    40000 SH       Sole                    40000
Netgear Inc.                   COM              64111Q104     3818   334657 SH       Sole                   325882              8775
NeuStar Inc.                   CLA              64126X201     9633   503570 SH       Sole                   483275             20295
Nevada Gold & Casinos Ltd.     COM              64126Q206      464   566200 SH       Sole                   566200
New York & Co. Inc.            COM              649295102      940   405000 SH       Sole                   405000
NewAlliance Bancshares Inc.    COM              650203102     6711   509602 SH       Sole                   476627             32975
Newfield Exploration Co.       COM              651290108     1914    96930 SH       Sole                    96289               641
Newpark Res Inc.               COM              651718504      108    29110 SH       Sole                    29110
Newport Corp.                  COM              651824104      170    25000 SH       Sole                    25000
NewStar Finl Inc.              COM              65251F105     4326  1084146 SH       Sole                  1073646             10500
NGAS Res Inc.                  COM              62912T103      494   301230 SH       Sole                   301230
NGP Capital Res Co.            COM              62912R107     1647   196825 SH       Sole                   196825
NightHawk Radiology Hldgs Inc  COM              65411N105     5247  1079700 SH       Sole                  1054070             25630
North American Palladium Ltd.  COM              656912102      353   192649 SH       Sole                   192649
Northrim BanCorp Inc.          COM              666762109     1278   124207 SH       Sole                   124207
NovaMed Inc.                   COM              66986W108     2991   864413 SH       Sole                   829638             34775
Nutraceutical Intl Corp        COM              67060Y101      239    31122 SH       Sole                    31122
Nymagic Inc.                   COM              629484106     3267   171521 SH       Sole                   171521
O.I. Corp.                     COM              670841105      325    32543 SH       Sole                    32543
O2Micro Intl Ltd.              ADR              67107W100      347   176853 SH       Sole                   176853
Occam Networks Inc.            COM              67457P309      937   390349 SH       Sole                   390349
Office Depot Inc.              COM              676220106      298   100000 SH       Sole                   100000
Oil States Intl Inc.           COM              678026105    10333   552840 SH       Sole                   547640              5200
Old Dominion Freight Line Inc. COM              679580100     5602   196841 SH       Sole                   194891              1950
OM Grp Inc.                    COM              670872100     3318   157200 SH       Sole                   157200
Omega Protein Corp.            COM              68210P107     2368   590564 SH       Sole                   590564
Omnicell Inc.                  COM              68213N109      318    26071 SH       Sole                    26071
Omnicom Grp Inc.               COM              681919106     1636    60782 SH       Sole                    60342               440
ON Semiconductor Corp.         COM              682189105     5337  1569669 SH       Sole                  1555852             13817
Oneok Inc.                     COM              682680103     2246    77140 SH       Sole                    77140
Onyx Pharmaceuticals Inc.      COM              683399109     1456    42630 SH       Sole                    42630
Oplink Communications Inc.     COM              68375Q403     7037   818261 SH       Sole                   781136             37125
Opnext Inc.                    COM              68375V105      421   240500 SH       Sole                   240500
Optical Cable Corp.            COM              683827208      285   105135 SH       Sole                   105135
Orbital Sciences Corp.         COM              685564106      335    17156 SH       Sole                    17156
Orthofix Intl N.V.             COM              N6748L102      307    20000 SH       Sole                    20000
Osage Bancshares Inc.          COM              68764U106     1068   147294 SH       Sole                   147294
Oshkosh Corp.                  COM              688239201     7205   810466 SH       Sole                   804431              6035
OSI Systems Inc.               COM              671044105     3522   254300 SH       Sole                   232800             21500
Otter Tail Corp.               COM              689648103     5179   222000 SH       Sole                   222000
Overhill Farms Inc.            COM              690212105       63    15000 SH       Sole                    15000
Owens-Illinois Inc.            COM              690768403     3810   139421 SH       Sole                   138855               566
Oxford Inds Inc.               COM              691497309      207    23550 SH       Sole                    23550
Oyo Geospace Corp.             COM              671074102      217    12446 SH       Sole                    12446
Pacific Continental Corp.      COM              69412V108      150    10000 SH       Sole                    10000
Pacific Mercantile Bancorp     COM              694552100      786   160349 SH       Sole                   160349
Pacific Premier Bancorp Inc.   COM              69478X105      821   205261 SH       Sole                   178431             26830
Pacific Sunwear of California  COM              694873100     2866  1802750 SH       Sole                  1786950             15800
PacWest Bancorp.               COM              695263103     5430   201867 SH       Sole                   199767              2100
Par Pharmaceutical Cos. Inc.   COM              69888P106     2104   156900 SH       Sole                   153150              3750
Parametric Tech Corp.          COM              699173209     3230   255375 SH       Sole                   235565             19810
PDI Inc.                       COM              69329V100     1333   332337 SH       Sole                   332337
Penford Corp.                  COM              707051108     3566   352400 SH       Sole                   352400
Penn Virginia Corp.            COM              707882106     2467    94942 SH       Sole                    85817              9125
PennantPark Investment Corp.   COM              708062104      516   142817 SH       Sole                   142817
Peoples Bancorp Inc. (Ohio)    COM              709789101     3894   203541 SH       Sole                   201391              2150
Pepco Hldgs Inc.               COM              713291102     2006   112961 SH       Sole                   112276               685
PepsiAmericas Inc.             COM              71343P200     1018    50000 SH       Sole                    50000
Perini Corp.                   COM              713839108    25106  1073815 SH       Sole                  1068265              5550
Pervasive Software Inc.        COM              715710109      414    97946 SH       Sole                    97946
Petroleum Development Corp.    COM              716578109     2585   107385 SH       Sole                    95685             11700
PetroQuest Energy Inc.         COM              716748108     1220   180545 SH       Sole                   180545
PG&E Corp.                     COM              69331C108     2032    52494 SH       Sole                    52171               323
PharmaNet Development Grp Inc. COM              717148100      439   482000 SH       Sole                   482000
Phillips-Van Heusen Corp.      COM              718592108    11824   587372 SH       Sole                   578072              9300
Phoscan Chemical Corp.         COM              71921E106      208   856500 SH       Sole                   856500
PhotoMedex Inc.                COM              719358103      165   587768 SH       Sole                   587768
Pioneer Natural Res Co.        COM              723787107     2576   159186 SH       Sole                   159186
Piper Jaffray Cos.             COM              724078100    17360   436616 SH       Sole                   428666              7950
Pitney Bowes Inc.              COM              724479100     3498   137266 SH       Sole                   136390               876
Plains Expl & Prodtn Co.       COM              726505100     2323    99950 SH       Sole                    97550              2400
Platinum Underwriters Hldgs    COM              G7127P100     1751    48535 SH       Sole                    48535
Polycom Inc.                   COM              73172K104      211    15615 SH       Sole                     4565             11050
Pomeroy IT Solutions Inc.      COM              731822102      205    65355 SH       Sole                    65355
Portec Rail Products Inc.      COM              736212101      723    99937 SH       Sole                    99937
Porter Bancorp Inc.            COM              736233107     4017   254260 SH       Sole                   254260
Portland General Electric Co.  COM              736508847     5460   280450 SH       Sole                   277650              2800
Powell Ind Inc.                COM              739128106     3565   122848 SH       Sole                   116612              6236
Premiere Global Svcs Inc.      COM              740585104     8578   996251 SH       Sole                   974251             22000
ProLogis                       COM              743410102     1389   100000 SH       Sole                   100000
Psychiatric Solutions Inc.     COM              74439H108     2254    80935 SH       Sole                    80285               650
Pulaski Finl Corp.             COM              745548107      423    63170 SH       Sole                    46270             16900
Quest Res Corp.                COM              748349305      314   714379 SH       Sole                   714379
Questcor Pharmaceuticals Inc.  COM              74835Y101     2322   249400 SH       Sole                   243450              5950
Radiant Systems Inc.           COM              75025N102     2235   663196 SH       Sole                   639126             24070
Radisys Corp.                  COM              750459109       55    10000 SH       Sole                    10000
RADVision Ltd.                 COM              M81869105      142    26260 SH       Sole                     7735             18525
Ralcorp Hldgs Inc.             COM              751028101     3544    60680 SH       Sole                    60230               450
Ramco-Gershenson Pptys Tr      COM              751452202      114    18400 SH       Sole                    18400
Rayonier Inc. REIT             COM              754907103      479    15275 SH       Sole                    15275
Red Lion Hotels Corp.          COM              756764106      716   300950 SH       Sole                   300950
Red Robin Gourmet Burgers Inc. COM              75689M101     4071   241890 SH       Sole                   236150              5740
Regal-Beloit Corp.             COM              758750103    15744   414420 SH       Sole                   410770              3650
Reinsurance Grp of Amer Inc.   COM              759351604     1898    44316 SH       Sole                    44003               313
Reliance Steel & Aluminum Co.  COM              759509102      429    21500 SH       Sole                    21500
Renasant Corp.                 COM              75970E107     1695    99525 SH       Sole                    97925              1600
Republic Airways Hldgs Inc.    COM              760276105     6374   597401 SH       Sole                   586651             10750
Res-Care Inc.                  COM              760943100     3726   248048 SH       Sole                   248048
RF Micro Devices Inc.          COM              749941100     1898  2433938 SH       Sole                  2410538             23400
Rock-Tenn Co.                  CLA              772739207     3972   116220 SH       Sole                   116220
Rock of Ages Corp.             CLA              772632105      405   202595 SH       Sole                   202595
Rockford Corp.                 COM              77316P101      107   167133 SH       Sole                   167133
Rockwell Collins Inc.          COM              774341101     2185    55884 SH       Sole                    55523               361
Rockwood Hldgs Inc.            COM              774415103     8190   758303 SH       Sole                   740903             17400
Rofin-Sinar Technologies Inc.  COM              775043102     7110   345467 SH       Sole                   328652             16815
Rollins Inc.                   COM              775711104     4467   247076 SH       Sole                   221503             25573
Rosetta Res Inc.               COM              777779307     1383   195395 SH       Sole                   182110             13285
Rowan Cos. Inc.                COM              779382100     2794   175750 SH       Sole                   175750
Ruddick Corp.                  COM              781258108     2111    76350 SH       Sole                    74550              1800
Russ Berrie & Co.              COM              782233100      188    63260 SH       Sole                    63260
Safeway Inc.                   COM              786514208     1620    68133 SH       Sole                    67683               450
Sanderson Farms Inc.           COM              800013104    10696   309487 SH       Sole                   306237              3250
Sandy Spring Bancorp Inc.      COM              800363103     5925   271421 SH       Sole                   268671              2750
SCANA Corp.                    COM              80589M102     2048    57533 SH       Sole                    57165               368
ScanSource Inc.                COM              806037107     5126   266028 SH       Sole                   263328              2700
Schweitzer-Mauduit Intl Inc.   COM              808541106     2287   114250 SH       Sole                   111450              2800
Scripps Ntwrks Interactive Inc CLA              811065101     2817   128054 SH       Sole                   127538               516
Semitool Inc.                  COM              816909105      221    72420 SH       Sole                    72420
Sensient Technologies Corp.    COM              81725T100      358    15000 SH       Sole                    15000
Shuffle Master Inc.            COM              825549108      682   137600 SH       Sole                   137600
SIFCO Ind Inc.                 COM              826546103      934   156899 SH       Sole                   156899
Sigma-Aldrich Corp.            COM              826552101     2160    51138 SH       Sole                    50804               334
Silgan Hldgs Inc.              COM              827048109     5828   121890 SH       Sole                   113570              8320
Silicon Motion Tech Corp.      ADR              82706C108     1250   545834 SH       Sole                   545834
Sims Metal Management Ltd.     ADR              829160100     2523   203100 SH       Sole                   203100
Skechers USA Inc.              CLA              830566105     4483   349650 SH       Sole                   349650
SkyWest Inc.                   COM              830879102     5230   281183 SH       Sole                   281183
Skyworks Solutions Inc.        COM              83088M102    11572  2088772 SH       Sole                  2061132             27640
SL Green Realty Corp.          COM              78440X101     2367    91408 SH       Sole                    90857               551
SL Industries Inc.             COM              784413106      453    51440 SH       Sole                    38890             12550
SMART Modular Tech Inc.        COM              G82245104      309   200700 SH       Sole                   200700
Smith Micro Software Inc.      COM              832154108      111    20000 SH       Sole                    20000
Smithfield Foods Inc.          COM              832248108     6408   455436 SH       Sole                   455436
Solutia Inc.                   COM              834376501     1290   286610 SH       Sole                   286610
Sonic Corp.                    COM              835451105     3726   306200 SH       Sole                   303100              3100
South Finl Grp Inc.            COM              837841105     7891  1826704 SH       Sole                  1814354             12350
South Jersey Ind Inc.          COM              838518108    15399   386413 SH       Sole                   382463              3950
Southern Union Co.             COM              844030106     1308   100300 SH       Sole                   100300
Southwest Bancorp Inc.         COM              844767103     9189   709040 SH       Sole                   701760              7280
Southwest Gas Corp.            COM              844895102     2055    81500 SH       Sole                    81500
Sovereign Bancorp Inc.         COM              845905108     2112   708700 SH       Sole                   708700
Spartan Stores Inc.            COM              846822104     9029   388362 SH       Sole                   388362
Spectrum Control Inc.          COM              847615101      521    84900 SH       Sole                    69250             15650
Spirit AeroSystems Hldgs Inc.  CLA              848574109     4472   439681 SH       Sole                   439681
SRA Intl Inc.                  CLA              78464R105     1530    88700 SH       Sole                    82850              5850
Stage Stores Inc.              COM              85254C305      634    76832 SH       Sole                    59357             17475
Stamford Industrial Grp Inc.   COM              852685106      411   633000 SH       Sole                   473850            159150
Standard Microsystems Corp.    COM              853626109     8400   514051 SH       Sole                   508751              5300
Stanley Furniture Co.          COM              854305208     2659   336569 SH       Sole                   333101              3468
Stanley Inc.                   COM              854532108      826    22800 SH       Sole                    21250              1550
Star Bulk Carriers Corp.       COM              Y8162K105      184    71917 SH       Sole                    71917
StealthGas Inc.                COM              Y81669106      850   176252 SH       Sole                   176252
Steel Dynamics Inc.            COM              858119100     2802   250640 SH       Sole                   248090              2550
StellarOne Corp.               COM              85856G100      401    23700 SH       Sole                    16250              7450
STERIS Corp.                   COM              859152100     4888   204594 SH       Sole                   188774             15820
Sterling Bancshares Inc.       COM              858907108     2770   455641 SH       Sole                   408251             47390
Sterling Construction Co Inc.  COM              859241101     6438   347446 SH       Sole                   341886              5560
Sterling Finl Corp.            COM              859319105     9686  1100725 SH       Sole                  1089845             10880
Steven Madden Ltd.             COM              556269108     3322   155801 SH       Sole                   155801
Stifel Finl Corp.              COM              860630102     9839   214593 SH       Sole                   212443              2150
Stoneridge Inc.                COM              86183P102     1611   353276 SH       Sole                   349676              3600
SumTotal Systems Inc.          COM              866615107     1529   538534 SH       Sole                   538534
SunLink Health Systems Inc.    COM              86737U102      190   219600 SH       Sole                   188750             30850
Super Micro Computer Inc.      COM              86800U104     1348   212889 SH       Sole                   212889
Supertel Hospitality Inc.      COM              868526104      705   414427 SH       Sole                   414427
Supervalu Inc.                 COM              868536103     6996   479210 SH       Sole                   479210
SurModics Inc.                 COM              868873100     3932   155600 SH       Sole                   151900              3700
SXC Health Solutions Corp.     COM              78505P100      280    15000 SH       Sole                    14000              1000
Sykes Enterprises Inc.         COM              871237103     6785   354880 SH       Sole                   321590             33290
Symmetry Medical Inc.          COM              871546206     9396  1178909 SH       Sole                  1170489              8420
Synergetics USA Inc.           COM              87160G107       56    62500 SH       Sole                    62500
Syneron Medical Ltd Ord Shs    COM              M87245102      290    34794 SH       Sole                    34794
Syniverse Hldgs Inc.           COM              87163F106     9488   794655 SH       Sole                   786005              8650
Syntel Inc.                    COM              87162H103     1938    83802 SH       Sole                    81802              2000
Sypris Solutions Inc.          COM              871655106      178   292150 SH       Sole                   292150
Sysco Corp.                    COM              871829107     1322    57648 SH       Sole                    57142               506
T-3 Energy Svcs Inc.           COM              87306E107     1812   191900 SH       Sole                   190850              1050
TBS Intl Ltd.                  CLA              G86975151     2006   200000 SH       Sole                   200000
Tech Data Corp.                COM              878237106    11422   640254 SH       Sole                   633704              6550
Techne Corp.                   COM              878377100     2013    31200 SH       Sole                    30950               250
Technitrol Inc.                COM              878555101     3109   893284 SH       Sole                   885134              8150
TeleCommunication Systems Inc. CLA              87929J103     2164   251950 SH       Sole                   251950
Teledyne Technologies Inc.     COM              879360105     2091    46935 SH       Sole                    46635               300
Tellabs Inc.                   COM              879664100     1188   288320 SH       Sole                   288320
Temple-Inland Inc.             COM              879868107      648   135100 SH       Sole                   135100
Tenneco Inc.                   COM              880349105      211    71400 SH       Sole                    71400
Terra Industries Inc.          COM              880915103     5668   340000 SH       Sole                   340000
Tessco Technologies Inc.       COM              872386107      847    97292 SH       Sole                    97292
Texas Capital Bancshares Inc.  COM              88224Q107     2485   186025 SH       Sole                   182775              3250
TGC Industries Inc.            COM              872417308      228   112071 SH       Sole                   112071
The Hanover Insurance Grp Inc. COM              410867105    20346   473504 SH       Sole                   468221              5283
The Providence Svc Corp.       COM              743815102      920   634823 SH       Sole                   634823
Thoratec Corp.                 COM              885175307     9280   285625 SH       Sole                   283975              1650
Tier Technologies Inc.         CLB              88650Q100     1600   296213 SH       Sole                   237693             58520
Tiffany & Co.                  COM              886547108     1512    63999 SH       Sole                    63580               419
Titan Intl Inc.                COM              88830M102     2340   283610 SH       Sole                   276885              6725
Titan Machinery Inc.           COM              88830R101     2046   145550 SH       Sole                   142100              3450
TJX Cos.                       COM              872540109     1164    56607 SH       Sole                    56234               373
Tollgrade Communications Inc.  COM              889542106      621   129968 SH       Sole                   129968
TOP Ships Inc.                 COM              Y8897Y305      250   153179 SH       Sole                   153179
Toro Co.                       COM              891092108    10839   328450 SH       Sole                   325400              3050
Tractor Supply Co.             COM              892356106     5315   147065 SH       Sole                   134840             12225
TransAct Technologies Inc.     COM              892918103      563   122645 SH       Sole                   122645
TransDigm Grp Inc.             COM              893641100     2095    62400 SH       Sole                    60950              1450
TreeHouse Foods Inc.           COM              89469A104     9633   353640 SH       Sole                   335265             18375
Triangle Petroleum Corp.       COM              89600B102       46   254692 SH       Sole                   254692
Trico Marine Svcs Inc.         COM              896106200      802   179476 SH       Sole                   179476
Trident Microsystems Inc.      COM              895919108      315   166700 SH       Sole                   156700             10000
Triquint Semiconductor Inc.    COM              89674K103     5279  1534550 SH       Sole                  1516200             18350
Triumph Grp Inc.               COM              896818101     8830   207949 SH       Sole                   206219              1730
True Religion Apparel Inc.     COM              89784N104     1954   157100 SH       Sole                   153350              3750
TTM Technologies Inc.          COM              87305R109     2730   524086 SH       Sole                   524086
Tupperware Brands Corp.        COM              899896104     2880   126890 SH       Sole                   126890
Turbochef Tech                 COM              900006206      320    65175 SH       Sole                    65175
TXCO Res Inc.                  COM              87311M102      946   635122 SH       Sole                   635122
U.S. Concrete Inc.             COM              90333L102     3277   975438 SH       Sole                   965488              9950
UCBH Hldgs Inc.                COM              90262T308      929   135000 SH       Sole                   109400             25600
Ultrapetrol (Bahamas) Ltd.     COM              P94398107      223    70000 SH       Sole                    70000
UMB Finl Corp.                 COM              902788108    10622   216163 SH       Sole                   213081              3082
Unisys Corp.                   COM              909214108     2610  3070800 SH       Sole                  2917250            153550
United America Indemnity Ltd.  CLA              90933T109     3382   264031 SH       Sole                   264031
United Finl Bancorp Inc.       COM              91030T109     1260    83200 SH       Sole                    83200
United Online Inc.             COM              911268100      455    75000 SH       Sole                    75000
United Western Bancorp Inc.    COM              913201109     1987   212272 SH       Sole                   212272
Universal Health Svcs Inc.     CLB              913903100     2491    66300 SH       Sole                    65900               400
Universal Stainless & Alloy Pr COM              913837100     3493   241092 SH       Sole                   241092
Unum Grp                       COM              91529Y106     2849   153155 SH       Sole                   152165               990
Urstadt Biddle Pptys Inc.      CLA              917286205     9452   593350 SH       Sole                   593350
USEC Inc.                      COM              90333E108      556   123850 SH       Sole                   123850
Valassis Communications Inc.   COM              918866104     3226  2444194 SH       Sole                  2444194
Valeant Pharmaceuticals Intl   COM              91911X104      458    20000 SH       Sole                    18650              1350
Varian Inc.                    COM              922206107     4244   126635 SH       Sole                   110455             16180
Vascular Solutions Inc.        COM              92231M109     2145   237753 SH       Sole                   232103              5650
Vectren Corp.                  COM              92240G101     5027   201000 SH       Sole                   197550              3450
Venoco Inc.                    COM              92275P307     2697   995150 SH       Sole                   986100              9050
Verigy Ltd.                    COM              Y93691106     5170   537434 SH       Sole                   531934              5500
VF Corp.                       COM              918204108     1366    24941 SH       Sole                    24783               158
ViaSat Inc.                    COM              92552V100    12169   505377 SH       Sole                   495952              9425
Volcom Inc.                    COM              92864N101     4302   394634 SH       Sole                   385234              9400
Wabtec                         COM              929740108     7513   189005 SH       Sole                   173200             15805
Warnaco Grp Inc.               COM              934390402     7839   399322 SH       Sole                   388222             11100
Warren Res Inc.                COM              93564A100      643   323346 SH       Sole                   323346
Washington Federal Inc.        COM              938824109     4012   268200 SH       Sole                   265450              2750
Washington Real Estate Invmt   COM              939653101    14883   525892 SH       Sole                   507927             17965
Waste Connections Inc.         COM              941053100     2268    71825 SH       Sole                    70040              1785
Waste Svcs Inc.                COM              941075202      640    97200 SH       Sole                    97200
Waters Corp.                   COM              941848103     7577   206729 SH       Sole                   206258               471
WCA Waste Corp.                COM              92926K103      514   204809 SH       Sole                   204809
Webster Finl Corp.             COM              947890109      218    15800 SH       Sole                     7900              7900
Wellcare Health Plans Inc.     COM              94946T106      258    20100 SH       Sole                    20100
Westar Energy Inc.             COM              95709T100    19241   938133 SH       Sole                   929183              8950
Westfield Finl Inc.            COM              96008P104     3288   318595 SH       Sole                   307545             11050
Wet Seal Inc.                  CLA              961840105      297   100000 SH       Sole                   100000
White Mountains Insurance Grp  COM              G9618E107     3016    11291 SH       Sole                    11213                78
Whiting Petroleum Corp.        COM              966387102     1431    42770 SH       Sole                    42665               105
WHX Corp.                      COM              929248607      856   107047 SH       Sole                    87266             19781
Wintrust Finl Corp.            COM              97650W108      397    19300 SH       Sole                    13200              6100
Wolverine World Wide Inc.      COM              978097103     2298   109200 SH       Sole                   108090              1110
Woodward Governor Co.          COM              980745103     5310   230655 SH       Sole                   211855             18800
WPCS Intl Inc.                 COM              92931L203      543   275820 SH       Sole                   275820
Wright Express Corp.           COM              98233Q105     3274   259840 SH       Sole                   259840
Wright Medical Grp Inc.        COM              98235T107     4372   213985 SH       Sole                   190565             23420
Xcel Energy Inc.               COM              98389B100     3296   177680 SH       Sole                   176535              1145
Yamana Gold Inc.               COM              98462Y100     3201   414614 SH       Sole                   411823              2791
Zenith Natl Insurance Corp.    COM              989390109     5754   182274 SH       Sole                   180424              1850
ZiLOG Inc.                     COM              989524301      154    53178 SH       Sole                    53178
Zoltek Cos.                    COM              98975W104      581    64600 SH       Sole                    64600
Zoran Corp.                    COM              98975F101     5665   829456 SH       Sole                   825606              3850
Kohlberg Capital Corp Rt       RT               500233119        0    38959 SH       Sole                    38959
NCI Building Sys Inc.          CONV             628852AG0     6795  9000000 PRN      Sole                  9000000
</TABLE>


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>