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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AIR METHODS COM 009128307 940 26,470 SH   SOLE   26,470 0 0
ALLEGION, PLC COM G0176J109 429 6,816 SH   SOLE   6,816 0 0
AMERCO COM 023586100 16,059 45,883 SH   SOLE   45,883 0 0
AMERIGAS PTRS. COM 030975106 722 16,800 SH   SOLE   16,800 0 0
ASTRONICS COM 046433108 703 18,736 SH   SOLE   18,736 0 0
BLACKHAWK COM 09238E104 1,622 48,058 SH   SOLE   48,058 0 0
CHASE CORP. COM 16150R104 11,725 225,486 SH   SOLE   225,486 0 0
CIRCOR INT'L COM 17273K109 502 10,912 SH   SOLE   10,912 0 0
CONOCOPHILLIPS COM 20825C104 3,946 99,261 SH   SOLE   99,261 0 0
CORE MOLDINGS COM 218683100 1,251 102,100 SH   SOLE   102,100 0 0
CRANE CO. COM 224399105 1,563 29,350 SH   SOLE   29,350 0 0
DELTA APPAREL COM 247368103 13,628 736,636 SH   SOLE   736,636 0 0
DENNY'S CORP. COM 24869P104 978 96,800 SH   SOLE   96,800 0 0
DREW INDUSTRIES COM 26168L205 3,679 57,487 SH   SOLE   57,487 0 0
DUCOMMUN INC COM 264147109 516 34,368 SH   SOLE   34,368 0 0
EASTMAN CHEM COM 277432100 3,197 44,400 SH   SOLE   44,400 0 0
EATON CORP COM G29183103 285 4,600 SH   SOLE   4,600 0 0
FERRO CORP. COM 315405100 2,512 216,577 SH   SOLE   216,577 0 0
GOODYEAR TIRE COM 382550101 13,294 406,536 SH   SOLE   406,536 0 0
HANESBRANDS COM 410345102 2,565 91,596 SH   SOLE   91,596 0 0
HARRIS CORP. COM 413875105 2,704 34,890 SH   SOLE   34,890 0 0
HERTZ GLOBAL COM 42805T105 184 17,950 SH   SOLE   17,950 0 0
HESS CORP. COM 42809H107 729 14,012 SH   SOLE   14,012 0 0
HUNTSMAN CORP. COM 447011107 4,039 310,668 SH   SOLE   310,668 0 0
INGERSOLL RAND COM G47791101 1,349 21,930 SH   SOLE   21,930 0 0
INNODATA COM 457642205 222 110,825 SH   SOLE   110,825 0 0
KRATON PERFORM COM 50077C106 1,050 61,742 SH   SOLE   61,742 0 0
MARATHON OIL COM 565849106 288 26,750 SH   SOLE   26,750 0 0
MARATHON PET. COM 56585A102 1,115 30,548 SH   SOLE   30,548 0 0
MONRO MUFFLER COM 610236101 353 5,036 SH   SOLE   5,036 0 0
NEFF CORP COM 640094207 3,545 506,370 SH   SOLE   506,370 0 0
NORTHERN TECH COM 665809109 723 60,240 SH   SOLE   60,240 0 0
OCCIDENTAL PETE COM 674599105 1,564 22,998 SH   SOLE   22,998 0 0
OIL STATES INTL COM 678026105 1,117 36,033 SH   SOLE   36,033 0 0
ORCHIDS PAPER COM 68572N104 252 9,321 SH   SOLE   9,321 0 0
OWENS ILL INC COM 690768403 321 20,700 SH   SOLE   20,700 0 0
PERMA-FIX ENV. COM 714157203 145 42,621 SH   SOLE   42,621 0 0
PHI INC. NV COM 69336T205 208 11,583 SH   SOLE   11,583 0 0
PHILLIPS 66 COM 718546104 3,684 42,836 SH   SOLE   42,836 0 0
PITNEY BOWES COM 724479100 2,735 128,684 SH   SOLE   128,684 0 0
POPEYES KITCHEN COM 732872106 412 8,000 SH   SOLE   8,000 0 0
Q.E.P. CO.,INC COM 74727K102 3,503 233,566 SH   SOLE   233,566 0 0
READING INT'L COM 755408101 746 64,842 SH   SOLE   64,842 0 0
SENSIENT TECH COM 81725T100 435 6,900 SH   SOLE   6,900 0 0
SL INDUSTRIES COM 784413106 1,572 47,625 SH   SOLE   47,625 0 0
SPARTAN MOTORS COM 846819100 149 39,696 SH   SOLE   39,696 0 0
STANDEX INTL CP COM 854231107 12,294 158,628 SH   SOLE   158,628 0 0
STEPAN CHEMICAL COM 858586100 633 11,513 SH   SOLE   11,513 0 0
SUPERVALU COM 868536103 1,322 240,402 SH   SOLE   240,402 0 0
SUPREME IND COM 868607102 7,959 914,814 SH   SOLE   914,814 0 0
TOTAL SA COM 89151E109 842 18,710 SH   SOLE   18,710 0 0
TRIMAS CORP. COM 896215209 303 17,850 SH   SOLE   17,850 0 0
UNIV PWR GROUP COM 913788105 450 409,187 SH   SOLE   409,187 0 0
UNIVERSAL FOREST COM 913543104 269 3,169 SH   SOLE   3,169 0 0
VAALCO ENERGY COM 91851C201 1,219 1,434,686 SH   SOLE   1,434,686 0 0
VSE CORP. COM 918284100 416 6,214 SH   SOLE   6,214 0 0
WATTS WATER COM 942749102 2,301 42,217 SH   SOLE   42,217 0 0
XERIUM TECH COM 98416J118 453 90,531 SH   SOLE   90,531 0 0
PITNEY BOWES COM 724481866 984 965 SH   SOLE   965 0 0
SOVRAN STORAGE COM 84610H108 452 3,900 SH   SOLE   3,900 0 0
MANITEX INT'L COM 563420108 86 17,300 SH   SOLE   17,300 0 0
RYDEX INVEST. COM 23129X105 243 3,200 SH   SOLE   3,200 0 0
UNIVERSAL SEC COM 913821302 118 31,561 SH   SOLE   31,561 0 0
ZUNICOM INC COM COM 98981X104 18 355,953 SH   SOLE   355,953 0 0