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 456 5,774 SH   SOLE   5,774 0 0
AMERCO COM 023586100 11,921 36,681 SH   SOLE   36,681 0 0
AMERICAN AXLE COM 024061103 407 37,900 SH   SOLE   37,900 0 0
AMERIGAS PTRS. COM 030975106 457 18,293 SH   SOLE   18,293 0 0
ASTRONICS COM 046433108 663 22,105 SH   SOLE   22,105 0 0
BUILDERS F.S. COM 12008R107 151 14,420 SH   SOLE   14,420 0 0
CHASE CORP. COM 16150R104 10,668 109,412 SH   SOLE   109,412 0 0
CIRCOR INT'L COM 17273K109 207 9,842 SH   SOLE   9,842 0 0
CONOCOPHILLIPS COM 20825C104 5,018 80,931 SH   SOLE   80,931 0 0
COOPER TIRE COM 216831107 1,753 54,788 SH   SOLE   54,788 0 0
CORE MOLDINGS COM 218683100 604 86,231 SH   SOLE   86,231 0 0
CRANE CO. COM 224399105 1,823 25,499 SH   SOLE   25,499 0 0
DELTA APPAREL COM 247368103 10,709 639,370 SH   SOLE   639,370 0 0
DENNY'S CORP. COM 24869P104 1,246 77,900 SH   SOLE   77,900 0 0
DUCOMMUN INC COM 264147109 976 27,114 SH   SOLE   27,114 0 0
EASTMAN CHEM COM 277432100 2,849 39,299 SH   SOLE   39,299 0 0
EATON CORP COM G29183103 272 4,000 SH   SOLE   4,000 0 0
ENTERCOM COMM. COM 293639100 266 48,348 SH   SOLE   48,348 0 0
ESCALADE INC. COM 296056104 118 10,939 SH   SOLE   10,939 0 0
FERRO CORP. COM 315405100 3,356 217,896 SH   SOLE   217,896 0 0
GOODYEAR TIRE COM 382550101 8,725 433,003 SH   SOLE   433,003 0 0
HANESBRANDS COM 410345102 963 78,631 SH   SOLE   78,631 0 0
HARRIS CORP. COM 413875105 2,528 18,864 SH   SOLE   18,864 0 0
HESS CORP. COM 42809H107 403 10,078 SH   SOLE   10,078 0 0
HORIZON GLOBAL COM 44052W104 17 12,700 SH   SOLE   12,700 0 0
HUNTSMAN CORP. COM 447011107 7,421 390,581 SH   SOLE   390,581 0 0
INGERSOLL RAND COM G47791101 1,646 18,189 SH   SOLE   18,189 0 0
JOHNSON OUTDR COM 479167108 270 4,659 SH   SOLE   4,659 0 0
KELLY SERVICES COM 488152208 208 10,401 SH   SOLE   10,401 0 0
KRATON PERFORM COM 50077C106 2,016 92,677 SH   SOLE   92,677 0 0
LCI INDUSTRIES COM 50189K103 2,525 38,260 SH   SOLE   38,260 0 0
MARATHON PET. COM 56585A102 1,996 33,966 SH   SOLE   33,966 0 0
NN, INC. COM 629337106 1,716 264,066 SH   SOLE   264,066 0 0
NORTHERN TECH COM 665809109 1,339 47,813 SH   SOLE   47,813 0 0
OCCIDENTAL PETE COM 674599105 1,043 17,097 SH   SOLE   17,097 0 0
OIL STATES INTL COM 678026105 408 29,131 SH   SOLE   29,131 0 0
OSHKOSH CORP COM 688239201 202 3,315 SH   SOLE   3,315 0 0
OWENS ILL INC COM 690768403 262 15,400 SH   SOLE   15,400 0 0
PERMA-FIX ENV. COM 714157203 41 20,421 SH   SOLE   20,421 0 0
PHILLIPS 66 COM 718546104 3,189 37,299 SH   SOLE   37,299 0 0
PITNEY BOWES COM 724479100 261 45,355 SH   SOLE   45,355 0 0
Q.E.P. CO.,INC COM 74727K102 4,995 217,163 SH   SOLE   217,163 0 0
READING INT'L COM 755408101 801 56,242 SH   SOLE   56,242 0 0
SENSIENT TECH COM 81725T100 345 6,277 SH   SOLE   6,277 0 0
SPARTAN MOTORS COM 846819100 222 31,771 SH   SOLE   31,771 0 0
STANDEX INTL CP COM 854231107 5,595 84,129 SH   SOLE   84,129 0 0
STEPAN CHEMICAL COM 858586100 667 9,069 SH   SOLE   9,069 0 0
TOTAL SA COM 89151E109 786 15,109 SH   SOLE   15,109 0 0
TRIMAS CORP. COM 896215209 380 14,349 SH   SOLE   14,349 0 0
TRINSEO SA COM L9340P101 1,623 35,873 SH   SOLE   35,873 0 0
UNITED RENTALS COM 911363109 1,520 14,900 SH   SOLE   14,900 0 0
UNIVERSAL FOREST COM 913543104 204 8,007 SH   SOLE   8,007 0 0
USA COMPRESSION COM 90290N109 154 12,150 SH   SOLE   12,150 0 0
VAALCO ENERGY COM 91851C201 2,993 2,137,598 SH   SOLE   2,137,598 0 0
VENATOR MTRL COM G9329Z100 876 218,994 SH   SOLE   218,994 0 0
VSE CORP. COM 918284100 291 10,028 SH   SOLE   10,028 0 0
WABASH NATL COM 929566107 175 13,700 SH   SOLE   13,700 0 0
WATTS WATER COM 942749102 2,299 35,927 SH   SOLE   35,927 0 0
GOVT PROP. COM 38376A103 280 41,477 SH   SOLE   41,477 0 0
LIFE STORAGE COM 53223X107 276 3,000 SH   SOLE   3,000 0 0
UNIVERSAL SEC COM 913821302 23 22,761 SH   SOLE   22,761 0 0
ZUNICOM INC COM COM 98981X401 11 355,953 SH   SOLE   355,953 0 0