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
ALLEGION, PLC COM G0176J109 552 6,420 SH   SOLE   6,420 0 0
AMERCO COM 023586100 14,737 40,046 SH   SOLE   40,046 0 0
AMERICAN AXLE COM 024061103 699 40,500 SH   SOLE   40,500 0 0
AMERIGAS PTRS. COM 030975106 722 16,400 SH   SOLE   16,400 0 0
ASTRONICS COM 046433108 613 21,145 SH   SOLE   21,145 0 0
BLACKHAWK COM 09238E104 1,914 44,509 SH   SOLE   44,509 0 0
BUILDERS F.S. COM 12008R107 175 10,000 SH   SOLE   10,000 0 0
CHASE CORP. COM 16150R104 14,680 135,924 SH   SOLE   135,924 0 0
CIRCOR INT'L COM 17273K109 553 10,242 SH   SOLE   10,242 0 0
CONOCOPHILLIPS COM 20825C104 4,376 88,409 SH   SOLE   88,409 0 0
COOPER TIRE COM 216831107 1,163 31,435 SH   SOLE   31,435 0 0
CORE MOLDINGS COM 218683100 2,070 96,300 SH   SOLE   96,300 0 0
CRANE CO. COM 224399105 2,198 27,650 SH   SOLE   27,650 0 0
DELTA APPAREL COM 247368103 14,260 687,248 SH   SOLE   687,248 0 0
DENNY'S CORP. COM 24869P104 1,104 92,000 SH   SOLE   92,000 0 0
DUCOMMUN INC COM 264147109 1,034 32,818 SH   SOLE   32,818 0 0
EASTMAN CHEM COM 277432100 3,825 42,500 SH   SOLE   42,500 0 0
EATON CORP COM G29183103 334 4,400 SH   SOLE   4,400 0 0
ENTERCOM COMM. COM 293639100 353 32,048 SH   SOLE   32,048 0 0
FERRO CORP. COM 315405100 5,021 228,246 SH   SOLE   228,246 0 0
GOODYEAR TIRE COM 382550101 14,548 440,857 SH   SOLE   440,857 0 0
HANESBRANDS COM 410345102 2,132 87,921 SH   SOLE   87,921 0 0
HARRIS CORP. COM 413875105 2,999 22,890 SH   SOLE   22,890 0 0
HESS CORP. COM 42809H107 500 10,878 SH   SOLE   10,878 0 0
HORIZON GLOBAL COM 44052W104 215 12,440 SH   SOLE   12,440 0 0
HUNTSMAN CORP. COM 447011107 11,086 410,575 SH   SOLE   410,575 0 0
INGERSOLL RAND COM G47791101 1,826 20,630 SH   SOLE   20,630 0 0
JOHNSON OUTDR COM 479167108 376 5,259 SH   SOLE   5,259 0 0
KRATON PERFORM COM 50077C106 3,885 98,363 SH   SOLE   98,363 0 0
LCI INDUSTRIES COM 50189K103 5,102 44,361 SH   SOLE   44,361 0 0
MARATHON OIL COM 565849106 163 12,300 SH   SOLE   12,300 0 0
MARATHON PET. COM 56585A102 2,117 38,148 SH   SOLE   38,148 0 0
NEFF CORP COM 640094207 9,527 396,978 SH   SOLE   396,978 0 0
NORTHERN TECH COM 665809109 844 54,437 SH   SOLE   54,437 0 0
OCCIDENTAL PETE COM 674599105 1,303 20,521 SH   SOLE   20,521 0 0
OIL STATES INTL COM 678026105 823 33,233 SH   SOLE   33,233 0 0
ORCHIDS PAPER COM 68572N104 432 31,998 SH   SOLE   31,998 0 0
OSHKOSH CORP COM 688239201 344 4,215 SH   SOLE   4,215 0 0
OWENS ILL INC COM 690768403 459 18,550 SH   SOLE   18,550 0 0
PERMA-FIX ENV. COM 714157203 111 31,617 SH   SOLE   31,617 0 0
PHILLIPS 66 COM 718546104 3,680 40,439 SH   SOLE   40,439 0 0
PITNEY BOWES COM 724479100 1,544 112,261 SH   SOLE   112,261 0 0
Q.E.P. CO.,INC COM 74727K102 5,427 226,144 SH   SOLE   226,144 0 0
READING INT'L COM 755408101 1,021 65,842 SH   SOLE   65,842 0 0
SENSIENT TECH COM 81725T100 500 6,578 SH   SOLE   6,578 0 0
SPARTAN MOTORS COM 846819100 373 34,696 SH   SOLE   34,696 0 0
STANDEX INTL CP COM 854231107 10,493 99,464 SH   SOLE   99,464 0 0
STEPAN CHEMICAL COM 858586100 819 9,869 SH   SOLE   9,869 0 0
SUPERVALU COM 868536301 3,873 180,152 SH   SOLE   180,152 0 0
TOTAL SA COM 89151E109 912 17,210 SH   SOLE   17,210 0 0
TRIMAS CORP. COM 896215209 441 16,650 SH   SOLE   16,650 0 0
UNIVERSAL FOREST COM 913543104 278 2,869 SH   SOLE   2,869 0 0
VAALCO ENERGY COM 91851C201 1,002 1,335,878 SH   SOLE   1,335,878 0 0
VSE CORP. COM 918284100 679 12,128 SH   SOLE   12,128 0 0
WATTS WATER COM 942749102 2,759 40,127 SH   SOLE   40,127 0 0
XERIUM TECH COM 98416J118 766 170,311 SH   SOLE   170,311 0 0
LIFE STORAGE COM 53223X107 300 3,800 SH   SOLE   3,800 0 0
AIR INDUSTRIES COM 00912N205 23 22,672 SH   SOLE   22,672 0 0
MANITEX INT'L COM 563420108 116 13,300 SH   SOLE   13,300 0 0
UNIVERSAL SEC COM 913821302 47 31,561 SH   SOLE   31,561 0 0
ZUNICOM INC COM COM 98981X104 28 355,953 SH   SOLE   355,953 0 0