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 1,117 26,920 SH   SOLE   26,920 0 0
ALLEGION, PLC COM G0176J109 451 6,882 SH   SOLE   6,882 0 0
AMERCO COM 023586100 17,753 46,233 SH   SOLE   46,233 0 0
AMERIGAS PTRS. COM 030975106 567 16,800 SH   SOLE   16,800 0 0
ASTRONICS COM 046433108 749 18,736 SH   SOLE   18,736 0 0
BLACKHAWK COM 09238E104 2,122 48,222 SH   SOLE   48,222 0 0
CHASE CORP. COM 16150R104 9,608 240,188 SH   SOLE   240,188 0 0
CIRCOR INT'L COM 17273K109 453 10,912 SH   SOLE   10,912 0 0
CONOCOPHILLIPS COM 20825C104 4,693 101,461 SH   SOLE   101,461 0 0
CORE MOLDINGS COM 218683100 1,281 102,500 SH   SOLE   102,500 0 0
CRANE CO. COM 224399105 1,394 29,350 SH   SOLE   29,350 0 0
DELTA APPAREL COM 247368103 10,170 739,617 SH   SOLE   739,617 0 0
DENNY'S CORP. COM 24869P104 951 97,500 SH   SOLE   97,500 0 0
DREW INDUSTRIES COM 26168L205 3,611 59,687 SH   SOLE   59,687 0 0
DUCOMMUN INC COM 264147109 550 34,368 SH   SOLE   34,368 0 0
EASTMAN CHEM COM 277432100 2,874 42,900 SH   SOLE   42,900 0 0
EATON CORP COM G29183103 237 4,600 SH   SOLE   4,600 0 0
FERRO CORP. COM 315405100 2,367 215,177 SH   SOLE   215,177 0 0
GOODYEAR TIRE COM 382550101 12,439 382,736 SH   SOLE   382,736 0 0
HANESBRANDS COM 410345102 2,671 92,096 SH   SOLE   92,096 0 0
HARRIS CORP. COM 413875105 3,031 35,040 SH   SOLE   35,040 0 0
HERTZ GLOBAL COM 42805T105 251 17,950 SH   SOLE   17,950 0 0
HESS CORP. COM 42809H107 701 14,612 SH   SOLE   14,612 0 0
HUNTSMAN CORP. COM 447011107 3,435 306,670 SH   SOLE   306,670 0 0
INGERSOLL RAND COM G47791101 1,223 22,230 SH   SOLE   22,230 0 0
INNODATA COM 457642205 277 110,825 SH   SOLE   110,825 0 0
MARATHON OIL COM 565849106 330 26,950 SH   SOLE   26,950 0 0
MARATHON PET. COM 56585A102 1,578 30,648 SH   SOLE   30,648 0 0
MONRO MUFFLER COM 610236101 322 5,036 SH   SOLE   5,036 0 0
NEFF CORP COM 640094207 2,507 334,277 SH   SOLE   334,277 0 0
NORTHERN TECH COM 665809109 817 60,540 SH   SOLE   60,540 0 0
OCCIDENTAL PETE COM 674599105 1,554 23,198 SH   SOLE   23,198 0 0
OIL STATES INTL COM 678026105 997 36,933 SH   SOLE   36,933 0 0
ORCHIDS PAPER COM 68572N104 287 9,421 SH   SOLE   9,421 0 0
OWENS ILL INC COM 690768403 357 20,700 SH   SOLE   20,700 0 0
PERMA-FIX ENV. COM 714157203 155 44,231 SH   SOLE   44,231 0 0
PHI INC. NV COM 69336T205 187 11,683 SH   SOLE   11,683 0 0
PHILLIPS 66 COM 718546104 3,503 42,986 SH   SOLE   42,986 0 0
PITNEY BOWES COM 724479100 2,652 129,384 SH   SOLE   129,384 0 0
POPEYES KITCHEN COM 732872106 464 8,000 SH   SOLE   8,000 0 0
Q.E.P. CO.,INC COM 74727K102 3,591 235,466 SH   SOLE   235,466 0 0
READING INT'L COM 755408101 843 64,842 SH   SOLE   64,842 0 0
SENSIENT TECH COM 81725T100 431 6,900 SH   SOLE   6,900 0 0
SL INDUSTRIES COM 784413106 1,418 45,750 SH   SOLE   45,750 0 0
SPARTAN MOTORS COM 846819100 119 39,696 SH   SOLE   39,696 0 0
STANDEX INTL CP COM 854231107 13,253 159,678 SH   SOLE   159,678 0 0
STEPAN CHEMICAL COM 858586100 564 11,513 SH   SOLE   11,513 0 0
SUPERVALU COM 868536103 1,371 203,102 SH   SOLE   203,102 0 0
SUPREME IND COM 868607102 6,270 922,122 SH   SOLE   922,122 0 0
TITAN INTL COM 88830M102 100 26,651 SH   SOLE   26,651 0 0
TOTAL SA COM 89151E109 850 19,110 SH   SOLE   19,110 0 0
TRIMAS CORP. COM 896215209 325 18,050 SH   SOLE   18,050 0 0
UNIV PWR GROUP COM 913788105 513 410,787 SH   SOLE   410,787 0 0
UNIVERSAL FOREST COM 913543104 222 3,269 SH   SOLE   3,269 0 0
VAALCO ENERGY COM 91851C201 2,168 1,445,186 SH   SOLE   1,445,186 0 0
VSE CORP. COM 918284100 385 6,314 SH   SOLE   6,314 0 0
WATTS WATER COM 942749102 2,084 42,317 SH   SOLE   42,317 0 0
XERIUM TECH COM 98416J100 1,050 90,531 SH   SOLE   90,531 0 0
PITNEY BOWES COM 724481866 994 975 SH   SOLE   975 0 0
SOVRAN STORAGE COM 84610H108 413 3,900 SH   SOLE   3,900 0 0
AIR INDUSTRIES COM 00912N205 176 22,672 SH   SOLE   22,672 0 0
MANITEX INT'L COM 563420108 99 17,300 SH   SOLE   17,300 0 0
UNIVERSAL SEC COM 913821302 139 31,561 SH   SOLE   31,561 0 0
ZUNICOM INC COM COM 98981X104 18 355,953 SH   SOLE   355,953 0 0