| Enlightened American: Third Ave Mgmt Q1 2008 13F HR SEC Filing | ||||||||||
| Quarter Ending 03/31/2008 | Back to the Enlightened American Website | |||||||||
| Martin Whitman's Third Ave | ||||||||||
| ***** NEW POSITIONS TAKEN | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| AVX CORPORATION | 19,327,614 | $12.81 | $247,587,000 | |||||||
| ABITIBIBOWATER INC | 25,000 | $12.92 | $323,000 | |||||||
| IPATH DOW JONES AIG AGRI. TOTAL | 132,472 | $57.76 | $7,652,000 | |||||||
| GENESEE & WYOMING INC. | 677,911 | $34.40 | $23,320,000 | |||||||
| HKN INC (F.K.A. HARKEN ENERGY C | 47,478 | $8.74 | $415,000 | |||||||
| ALLIANZ SE | 111,058 | $198.83 | $22,082,000 | |||||||
| POLARIS ACQUISITION CORP. UNIT | 200,000 | $9.15 | $1,830,000 | |||||||
| ULTRASHORT FTSE/XINHUA CHINA | 58,274 | $93.28 | $5,436,000 | |||||||
| ULTRASHORT MSCI EMERGING MKTS | 58,278 | $82.31 | $4,797,000 | |||||||
| PZENA INVESTMENT MANAGEMENT | 190,300 | $11.32 | $2,154,000 | |||||||
| REIS, INC. | 309,191 | $5.35 | $1,654,000 | |||||||
| UNITED REFINING ENERGY CORPORAT | 1,000,000 | $9.05 | $9,050,000 | |||||||
| BROOKFIELD INFRASTRUCTURE PARTN | 982,708 | $16.95 | $16,657,000 | |||||||
| CASTLEPOINT HOLDINGS LTD. | 622,218 | $9.73 | $6,054,000 | |||||||
| CRM HOLDINGS, LTD. | 45,500 | $5.01 | $228,000 | |||||||
| ***** SOLD OFF | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| A.S.V. INC. | 2,287,758 | $13.85 | $31,685,000 | |||||||
| AMERICAN FINANCIAL REALTY TRUST | 149,600 | $8.02 | $1,200,000 | |||||||
| CNX GAS CORP. | 535,800 | $31.95 | $17,119,000 | |||||||
| CAPITAL LEASE FUNDING INC. | 49,300 | $8.42 | $415,000 | |||||||
| COMSTOCK RESOURCES, INC. | 472,710 | $34.00 | $16,072,000 | |||||||
| ASPEN INSURANCE HOLDINGS LTD | 710,818 | $28.84 | $20,500,000 | |||||||
| AVX CORPORATION | 19,313,289 | $13.42 | $259,184,000 | |||||||
| THE FIRST AMERICAN CORPORATION | 1,000,000 | $34.12 | $34,120,000 | |||||||
| HAYNES INTERNATIONAL INC. | 445,714 | $69.50 | $30,977,000 | |||||||
| INVESTMENT TECHNOLOGY GROUP | 132,800 | $47.59 | $6,320,000 | |||||||
| MERCER INT'L INC. SBI | 632,683 | $7.83 | $4,954,000 | |||||||
| PAREXEL INTERNATIONAL CORPORATI | 598,000 | $48.30 | $28,883,000 | |||||||
| QUADRA REALTY TRUST INC. | 2,383,700 | $8.04 | $19,165,000 | |||||||
| ST. JUDE MEDICAL INC. | 363,000 | $40.64 | $14,752,000 | |||||||
| STEWART INFORMATION SERVICES | 479,800 | $26.09 | $12,518,000 | |||||||
| TOMPKINS TRUSTCO INC. | 54,704 | $38.81 | $2,123,000 | |||||||
| THE TORONTO-DOMINION BANK | 16,354 | $69.95 | $1,144,000 | |||||||
| WILLBROS GROUP, INC. | 214,200 | $38.29 | $8,202,000 | |||||||
| ACE LIMITED | 87,035 | $61.78 | $5,377,000 | |||||||
| ***** HOLD POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 0.00% | -67.58% | ACA CAPITAL HOLDINGS INC. | 4,609,419 | 4,609,419 | $0.27 | $0.83 | $1,245,000 | $3,840,000 | ||
| 0.00% | 1.15% | AM. FIN'L REALTY 4.375% 07/15/2 | 5,000,000 | 5,000,000 | $0.99 | $0.98 | $4,944,000 | $4,888,000 | ||
| 0.00% | 21.18% | ASSOCIATED ESTATES REALTY CORP. | 1,348,100 | 1,348,100 | $11.44 | $9.44 | $15,422,000 | $12,726,000 | ||
| 0.00% | 4.24% | AVATAR HOLDINGS INC. | 408,775 | 408,775 | $43.59 | $41.82 | $17,819,000 | $17,095,000 | ||
| 0.00% | -3.12% | BERKSHIRE HILLS BANCORP INC. | 390,800 | 390,800 | $25.19 | $26.00 | $9,844,000 | $10,161,000 | ||
| 0.00% | -8.39% | BROOKLYN FEDERAL BANCORP INC. | 637,122 | 637,122 | $12.11 | $13.22 | $7,716,000 | $8,423,000 | ||
| 0.00% | -14.68% | CARVER BANCORP, INC. | 218,500 | 218,500 | $11.68 | $13.69 | $2,552,000 | $2,991,000 | ||
| 0.00% | -29.22% | COMMSCOPE INC. | 1,163,162 | 1,163,162 | $34.83 | $49.21 | $40,513,000 | $57,239,000 | ||
| 0.00% | -0.58% | COVANTA HOLDING CORPORATION | 8,816,889 | 8,816,889 | $27.50 | $27.66 | $242,464,000 | $243,875,000 | ||
| 0.00% | 13.81% | DATASCOPE CORPORATION | 342,300 | 342,300 | $41.43 | $36.40 | $14,181,000 | $12,460,000 | ||
| 0.00% | -17.50% | FBL FINANCIAL GROUP, INC. | 507,000 | 507,000 | $28.49 | $34.53 | $14,444,000 | $17,507,000 | ||
| 0.00% | -19.17% | FOREST CITY ENTERPRISES INC. CL | 26,000 | 26,000 | $36.00 | $44.54 | $936,000 | $1,158,000 | ||
| 0.00% | 0.00% | GENEVA ACQUISITION CORP UNIT | 160,000 | 160,000 | $5.63 | $5.63 | $901,000 | $901,000 | ||
| 0.00% | -60.38% | GENEVA ACQUISITION CORP WTS | 320,000 | 320,000 | $0.13 | $0.33 | $42,000 | $106,000 | ||
| 0.00% | -1.31% | GLATFELTER P. H. CO. | 5,246,370 | 5,246,370 | $15.11 | $15.31 | $79,273,000 | $80,322,000 | ||
| 0.00% | 9.14% | GOUVERNEUR BANCORP INC. | 205,511 | 205,511 | $9.30 | $8.52 | $1,911,000 | $1,751,000 | ||
| 0.00% | -10.53% | GREENLIGHT CAPITAL RE LTD. CL A | 427,848 | 427,848 | $18.60 | $20.79 | $7,958,000 | $8,895,000 | ||
| 0.00% | -57.73% | IDT CORPORATION CL C | 449,743 | 449,743 | $3.34 | $7.90 | $1,502,000 | $3,553,000 | ||
| 0.00% | -9.52% | IAMGOLD CORPORATION | 1,018,700 | 1,018,700 | $7.42 | $8.20 | $7,555,000 | $8,350,000 | ||
| 0.00% | -20.56% | INTEL CORPORATION | 4,210,000 | 4,210,000 | $21.18 | $26.66 | $89,168,000 | $112,239,000 | ||
| 0.00% | -30.02% | JEFFERIES GROUP | 894,400 | 894,400 | $16.13 | $23.05 | $14,427,000 | $20,616,000 | ||
| 0.00% | -15.50% | KAPSTONE PAPER AND PACKAGING WT | 300,000 | 300,000 | $1.69 | $2.00 | $507,000 | $600,000 | ||
| 0.00% | -15.41% | LIBERTY MEDIA INTERACTIVE CL A | 261,875 | 261,875 | $16.14 | $19.08 | $4,227,000 | $4,997,000 | ||
| 0.00% | -86.49% | LIBERTY MEDIA HOLDINGS - CAP SR | 49,375 | 49,375 | $15.74 | $116.50 | $777,000 | $5,752,000 | ||
| 0.00% | -5.57% | MVC CAPITAL INC. | 365,000 | 365,000 | $15.24 | $16.14 | $5,563,000 | $5,891,000 | ||
| 0.00% | -76.03% | MEDIA & ENTER. HOLDINGS, INC. W | 550,000 | 550,000 | $0.18 | $0.75 | $99,000 | $413,000 | ||
| 0.00% | 1.21% | MEDIA & ENTER. HOLDINGS, INC. U | 325,000 | 325,000 | $7.48 | $7.39 | $2,431,000 | $2,402,000 | ||
| 0.00% | -20.28% | MICROSOFT CORPORATION | 2,000,000 | 2,000,000 | $28.38 | $35.60 | $56,760,000 | $71,200,000 | ||
| 0.00% | -34.40% | OMEGA FLEX INC. | 360,100 | 360,100 | $10.74 | $16.38 | $3,869,000 | $5,898,000 | ||
| 0.00% | 52.95% | PRECISION DRILLING TRUST | 437,400 | 437,400 | $23.20 | $15.17 | $10,148,000 | $6,635,000 | ||
| 0.00% | -19.49% | RAIT INVESTMENT TRUST | 3,352,000 | 3,352,000 | $6.94 | $8.62 | $23,263,000 | $28,894,000 | ||
| 0.00% | -29.64% | RAYMOND JAMES FINANCIAL | 2,444,062 | 2,444,062 | $22.98 | $32.66 | $56,165,000 | $79,823,000 | ||
| 0.00% | -3.48% | SWS GROUP INC. | 281,385 | 281,385 | $12.23 | $12.67 | $3,441,000 | $3,565,000 | ||
| 0.00% | 28.01% | STANDEX INTERNATIONAL CORPORATI | 480,500 | 480,500 | $22.34 | $17.45 | $10,734,000 | $8,385,000 | ||
| 0.00% | 3.42% | STANLEY FURNITURE COMPANY, INC. | 2,861,268 | 2,861,268 | $12.41 | $12.00 | $35,508,000 | $34,335,000 | ||
| 0.00% | -48.53% | STONELEIGH PARTNERS WARRANTS | 1,750,000 | 1,750,000 | $0.36 | $0.70 | $630,000 | $1,224,000 | ||
| 0.00% | -11.39% | SUNCOR ENERGY INC. | 1,000,000 | 1,000,000 | $96.35 | $108.73 | $96,350,000 | $108,730,000 | ||
| 0.00% | -79.92% | TAILWINDFINANCIAL INC. WTS | 375,000 | 375,000 | $0.13 | $0.65 | $49,000 | $244,000 | ||
| 0.00% | 1.20% | TAILWIND FINANCIAL INC. UNITS | 187,500 | 187,500 | $7.67 | $7.58 | $1,438,000 | $1,421,000 | ||
| 0.00% | -19.06% | TECHNITROL, INC. | 172,700 | 172,700 | $23.13 | $28.58 | $3,995,000 | $4,936,000 | ||
| 0.00% | -63.24% | TRANSFORMA ACQ. GRP WTS EXP 12/ | 100,000 | 100,000 | $0.25 | $0.68 | $25,000 | $68,000 | ||
| 0.00% | -0.10% | UNITED FINANCIAL BANCORP INC. | 275,000 | 275,000 | $11.08 | $11.09 | $3,047,000 | $3,050,000 | ||
| 0.00% | -20.61% | VISHAY INTERTECNOLOGY, INC. | 555,000 | 555,000 | $9.06 | $11.41 | $5,028,000 | $6,333,000 | ||
| 0.00% | -7.14% | WAUWATOSA HOLDINGS INC. | 72,085 | 72,085 | $11.90 | $12.82 | $858,000 | $924,000 | ||
| ***** AUGMENTED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 51.98% | -36.65% | 1,059,760 | ALLIANCE DATA SYSTEMS CORP. | 3,098,470 | 2,038,710 | $47.51 | $74.99 | $147,208,000 | $152,883,000 | |
| 279.42% | -77.69% | 7,543,963 | AMBAC FINANCIAL GROUP | 10,243,859 | 2,699,896 | $5.75 | $25.77 | $58,902,000 | $69,576,000 | |
| 16.43% | 3.80% | 6,200 | AMERICAN LAND LEASE INC. | 43,928 | 37,728 | $20.58 | $19.83 | $904,000 | $748,000 | |
| 4.91% | -4.82% | 56,157 | BEL FUSE INC. CL B | 1,200,334 | 1,144,177 | $27.86 | $29.27 | $33,441,000 | $33,490,000 | |
| 18.10% | 8.48% | 935,747 | BRONCO DRILLING CO. INC. | 6,105,963 | 5,170,216 | $16.11 | $14.85 | $98,367,000 | $76,778,000 | |
| 2.12% | -24.78% | 529,020 | BROOKFIELD ASSET MGMT. CL A | 25,470,488 | 24,941,468 | $26.83 | $35.67 | $683,373,000 | $889,662,000 | |
| 1.04% | 0.31% | 35,900 | BROOKFIELD PROPERTIES | 3,477,062 | 3,441,162 | $19.31 | $19.25 | $67,142,000 | $66,242,000 | |
| 0.37% | 12.99% | 19,773 | BROOKLINE BANCORP INC. | 5,298,378 | 5,278,605 | $11.48 | $10.16 | $60,825,000 | $53,631,000 | |
| 18.08% | -24.52% | 110,200 | CBRE REALTY FINANCE INC. | 719,769 | 609,569 | $4.03 | $5.34 | $2,901,000 | $3,255,000 | |
| 134.64% | -50.69% | 4,903,652 | CIT GROUP INC. | 8,545,645 | 3,641,993 | $11.85 | $24.03 | $101,266,000 | $87,517,000 | |
| 12.98% | 7.71% | 31,048 | CALIFORNIA FIRST NATIONAL BANK | 270,307 | 239,259 | $10.48 | $9.73 | $2,833,000 | $2,328,000 | |
| 4.04% | 4.49% | 5,000 | CAPITAL SOUTHWEST | 128,811 | 123,811 | $123.72 | $118.40 | $15,936,000 | $14,659,000 | |
| 17.91% | 3.54% | 111,942 | CAVCO INDUSTRIES, INC. | 736,815 | 624,873 | $35.04 | $33.84 | $25,818,000 | $21,146,000 | |
| 1.19% | 0.15% | 600 | COLONIAL BANKSHARES INC. | 50,920 | 50,320 | $10.35 | $10.33 | $527,000 | $520,000 | |
| 79.34% | 11.81% | 894,501 | COUSINS PROPERTIES INC | 2,021,896 | 1,127,395 | $24.71 | $22.10 | $49,961,000 | $24,915,000 | |
| 36.49% | -13.13% | 1,243,736 | CROSS COUNTRY HEALTHCARE INC. | 4,651,705 | 3,407,969 | $12.37 | $14.24 | $57,542,000 | $48,529,000 | |
| 69.05% | -38.17% | 230,000 | CRYSTAL RIVER CAPITAL INC. | 563,075 | 333,075 | $8.93 | $14.44 | $5,028,000 | $4,810,000 | |
| 164.45% | 11.02% | 659,280 | EASTGROUP PROPERTIES INC. | 1,060,171 | 400,891 | $46.46 | $41.85 | $49,256,000 | $16,777,000 | |
| 54.49% | -33.63% | 1,971,201 | ELECTRONICS FOR IMAGING INC. | 5,588,949 | 3,617,748 | $14.92 | $22.48 | $83,387,000 | $81,327,000 | |
| 36.72% | 14.38% | 1,064,910 | ENCORE WIRE CORPORATION | 3,964,861 | 2,899,951 | $18.21 | $15.92 | $72,200,000 | $46,167,000 | |
| 4.15% | -33.07% | 14,000 | FAIR ISAAC CORPORATION | 351,082 | 337,082 | $21.52 | $32.15 | $7,555,000 | $10,837,000 | |
| 27.30% | -5.13% | 105,100 | FEDFIRST FINANCIAL CORPORATION | 490,036 | 384,936 | $8.51 | $8.97 | $4,168,000 | $3,451,000 | |
| 10.51% | -11.11% | 146,686 | FIRST POTOMAC REALTY TRUST | 1,542,686 | 1,396,000 | $15.37 | $17.29 | $23,711,000 | $24,137,000 | |
| 9.24% | -17.19% | 1,703,874 | FOREST CITY ENTERPRISES INC. CL | 20,134,113 | 18,430,239 | $36.80 | $44.44 | $740,935,000 | $819,040,000 | |
| 10.69% | -37.43% | 402,569 | HANDLEMAN COMPANY | 4,168,672 | 3,766,103 | $1.07 | $1.71 | $4,460,000 | $6,440,000 | |
| 3.15% | 18.35% | 150,000 | HAVERTY FURNITURE COMPANIES INC | 4,918,971 | 4,768,971 | $10.64 | $8.99 | $52,338,000 | $42,873,000 | |
| 0.08% | -24.80% | 2,407 | HERLEY INDUSTRIES, INC. | 2,858,593 | 2,856,186 | $10.34 | $13.75 | $29,558,000 | $39,273,000 | |
| 9.03% | -15.80% | 22,700 | HOME FEDERAL BANCORP INC/ LA | 274,157 | 251,457 | $8.00 | $9.50 | $2,193,000 | $2,389,000 | |
| 137.32% | -3.50% | 462,900 | IRSA INVEST. AND REP. INC. SP G | 800,000 | 337,100 | $14.05 | $14.56 | $11,240,000 | $4,908,000 | |
| 82.86% | 8.29% | 413,925 | IMATION CORP. | 913,465 | 499,540 | $22.74 | $21.00 | $20,772,000 | $10,490,000 | |
| 18.10% | -0.86% | 272,491 | INSTEEL INDUSTRIES INC. | 1,778,085 | 1,505,594 | $11.63 | $11.73 | $20,679,000 | $17,661,000 | |
| 19.45% | -12.60% | 834,825 | K-SWISS INC., CL A | 5,126,571 | 4,291,746 | $15.82 | $18.10 | $81,102,000 | $77,681,000 | |
| 16.23% | -8.06% | 183,588 | KEARNY FINANCIAL CORP. | 1,314,938 | 1,131,350 | $10.95 | $11.91 | $14,399,000 | $13,474,000 | |
| 21.65% | -23.47% | 723,758 | LEGG MASON INC. | 4,067,311 | 3,343,553 | $55.98 | $73.15 | $227,688,000 | $244,581,000 | |
| 4.19% | -11.88% | 105,000 | LEXMARK INTERNATIONAL INC. CL A | 2,611,565 | 2,506,565 | $30.72 | $34.86 | $80,227,000 | $87,379,000 | |
| 41.28% | -32.89% | 2,242,697 | LOUISIANA PACIFIC CORP. | 7,675,516 | 5,432,819 | $9.18 | $13.68 | $70,461,000 | $74,321,000 | |
| 148.49% | -34.41% | 20,452,667 | MBIA INC. | 34,226,837 | 13,774,170 | $12.22 | $18.63 | $418,252,000 | $256,613,000 | |
| 8.45% | 4.54% | 25,592 | NATIONAL WESTERN LIFE INSURANCE | 328,563 | 302,971 | $216.79 | $207.37 | $71,229,000 | $62,827,000 | |
| 1.26% | -7.23% | 18,851 | NEWMONT MNG CORP | 1,510,776 | 1,491,925 | $45.30 | $48.83 | $68,438,000 | $72,851,000 | |
| 7.62% | -70.00% | 166,245 | ORIGEN FINANCIAL INC. | 2,346,715 | 2,180,470 | $1.20 | $4.00 | $2,816,000 | $8,722,000 | |
| 2.70% | -20.90% | 111,800 | POSCO ADR | 4,250,594 | 4,138,794 | $118.98 | $150.41 | $505,736,000 | $622,516,000 | |
| 1.01% | -1.24% | 9,530 | PS BUSINESS PARKS, INC. | 957,222 | 947,692 | $51.90 | $52.55 | $49,680,000 | $49,801,000 | |
| 1.66% | -8.46% | 18,204 | PARK ELECTROCHEMICAL CORPORATIO | 1,113,459 | 1,095,255 | $25.85 | $28.24 | $28,783,000 | $30,930,000 | |
| 21.89% | -14.95% | 16,162 | PATRIOT TRANSPORTATION HOLDINGS | 90,000 | 73,838 | $78.44 | $92.23 | $7,060,000 | $6,810,000 | |
| 7.17% | 34.09% | 515,390 | PIONEER DRILLING CO. | 7,702,238 | 7,186,848 | $15.93 | $11.88 | $122,697,000 | $85,380,000 | |
| 1.43% | -43.75% | 215,867 | RADIAN GROUP INC. | 15,318,152 | 15,102,285 | $6.57 | $11.68 | $100,640,000 | $176,395,000 | |
| 6.32% | -18.69% | 59,399 | RESOURCE CAPITAL CORPORATION | 1,000,000 | 940,601 | $7.57 | $9.31 | $7,570,000 | $8,757,000 | |
| 9.73% | -0.28% | 255,000 | ST. MARY LAND & EXPLORATION | 2,875,703 | 2,620,703 | $38.50 | $38.61 | $110,715,000 | $101,185,000 | |
| 14.73% | -5.21% | 162,443 | SKYLINE CORPORATION | 1,265,163 | 1,102,720 | $27.82 | $29.35 | $35,197,000 | $32,365,000 | |
| 12.23% | 0.80% | 133,746 | SYBASE INC. | 1,227,771 | 1,094,025 | $26.30 | $26.09 | $32,290,000 | $28,543,000 | |
| 27.71% | -4.69% | 5,405,121 | SYCAMORE NETWORKS, INC. | 24,909,525 | 19,504,404 | $3.66 | $3.84 | $91,169,000 | $74,897,000 | |
| 6.55% | -12.42% | 100,000 | SYNOPSYS INC. | 1,625,952 | 1,525,952 | $22.71 | $25.93 | $36,925,000 | $39,568,000 | |
| 14.89% | -16.67% | 3,007,400 | TELLABS, INC.` | 23,199,631 | 20,192,231 | $5.45 | $6.54 | $126,438,000 | $132,057,000 | |
| 11.89% | 0.46% | 128,000 | TIDEWATER INC. | 1,204,715 | 1,076,715 | $55.11 | $54.86 | $66,392,000 | $59,069,000 | |
| 22.18% | -48.98% | 235,977 | TRIAD GUARANTY INC | 1,300,000 | 1,064,023 | $5.00 | $9.80 | $6,500,000 | $10,427,000 | |
| 7.94% | 2.88% | 442,343 | USG CORPORATION | 6,015,401 | 5,573,058 | $36.82 | $35.79 | $221,487,000 | $199,460,000 | |
| 26.62% | -2.30% | 342,100 | UNITED MICROELECTRONICS CORP. A | 1,627,200 | 1,285,100 | $3.38 | $3.46 | $5,500,000 | $4,446,000 | |
| 21.97% | -10.26% | 198,300 | VAIL RESORTS INC. | 1,100,990 | 902,690 | $48.29 | $53.81 | $53,167,000 | $48,574,000 | |
| 0.66% | -1.98% | 8,700 | VORNADO REALTY TRUST | 1,336,243 | 1,327,543 | $86.21 | $87.95 | $115,198,000 | $116,757,000 | |
| 32.69% | -31.28% | 1,516,625 | WESTLAKE CHEMICAL CORP. | 6,155,960 | 4,639,335 | $13.05 | $18.99 | $80,335,000 | $88,101,000 | |
| 1.06% | -5.64% | 66,949 | MONTPELIER RE HOLDINGS LTD. | 6,396,265 | 6,329,316 | $16.05 | $17.01 | $102,660,000 | $107,662,000 | |
| ***** REDUCED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| -0.66% | -5.70% | -17,000 | ACADIA REALTY TRUST | 2,564,610 | 2,581,610 | $24.15 | $25.61 | $61,935,000 | $66,115,000 | |
| -1.00% | 17.38% | -25,781 | ALAMO GROUP, INC. | 2,552,834 | 2,578,615 | $21.27 | $18.12 | $54,299,000 | $46,725,000 | |
| -36.39% | -16.61% | -1,053,767 | ALEXANDER & BALDWIN, INC. | 1,842,364 | 2,896,131 | $43.08 | $51.66 | $79,369,000 | $149,614,000 | |
| -15.46% | 20.96% | -64,695 | ALICO, INC. | 353,836 | 418,531 | $44.15 | $36.50 | $15,622,000 | $15,276,000 | |
| -0.86% | 2.45% | -856 | ALTO PALERMO S.A. ADR | 99,144 | 100,000 | $15.00 | $14.64 | $1,487,000 | $1,464,000 | |
| -10.55% | 9.86% | -179,787 | APPLIED MATERIALS, INC. | 1,523,759 | 1,703,546 | $19.51 | $17.76 | $29,729,000 | $30,255,000 | |
| -2.36% | -14.42% | -235,350 | BANK OF NEW YORK MELLON CORP. | 9,727,637 | 9,962,987 | $41.73 | $48.76 | $405,934,000 | $485,795,000 | |
| -7.02% | -8.99% | -19,979 | BEL FUSE INC. CL A | 264,488 | 284,467 | $31.39 | $34.49 | $8,302,000 | $9,811,000 | |
| -3.07% | -32.89% | -322,412 | BORLAND SOFTWARE CORPORATION | 10,173,141 | 10,495,553 | $2.02 | $3.01 | $20,550,000 | $31,592,000 | |
| -7.18% | -5.26% | -120,875 | BRISTOW GROUP INC. | 1,563,474 | 1,684,349 | $53.67 | $56.65 | $83,912,000 | $95,418,000 | |
| -26.03% | 28.71% | -2,206,435 | CIMAREX ENERGY CO. | 6,269,853 | 8,476,288 | $54.74 | $42.53 | $343,212,000 | $360,497,000 | |
| -8.78% | -49.92% | -211,627 | COACHMEN INDUSTRIES, INC. | 2,199,811 | 2,411,438 | $2.98 | $5.95 | $6,555,000 | $14,348,000 | |
| -16.83% | 11.25% | -169,610 | COHERENT INC. | 838,236 | 1,007,846 | $27.89 | $25.07 | $23,378,000 | $25,267,000 | |
| -5.36% | -10.58% | -31,900 | CONSOLIDATED TOMOKA LAND CO. | 563,150 | 595,050 | $56.05 | $62.68 | $31,565,000 | $37,298,000 | |
| -4.52% | 8.18% | -50,000 | DELTIC TIMBER CORP. | 1,055,190 | 1,105,190 | $55.70 | $51.49 | $58,774,000 | $56,906,000 | |
| -3.17% | -16.98% | -106,388 | ELECTRO SCIENTIFIC INDUSTRIES, | 3,247,464 | 3,353,852 | $16.48 | $19.85 | $53,518,000 | $66,574,000 | |
| -8.93% | 11.46% | -175,900 | ENCANA CORPORATION | 1,792,850 | 1,968,750 | $75.75 | $67.96 | $135,808,000 | $133,796,000 | |
| -2.55% | 35.23% | -74,711 | FORDING CANADIAN COAL TRUST | 2,860,841 | 2,935,552 | $52.20 | $38.60 | $149,336,000 | $113,312,000 | |
| -2.36% | -15.80% | -47,225 | GSI GROUP INC. | 1,955,523 | 2,002,748 | $7.78 | $9.24 | $15,214,000 | $18,505,000 | |
| -10.34% | -54.20% | -373,200 | IDT CORPORATION CL B | 3,237,000 | 3,610,200 | $3.87 | $8.45 | $12,527,000 | $30,506,000 | |
| -17.87% | -8.86% | -132,320 | INDUSTRIAS BACHOCO, S.A. DE C.V | 608,089 | 740,409 | $28.91 | $31.72 | $17,580,000 | $23,486,000 | |
| -64.44% | -12.25% | -1,115,350 | INGRAM MICRO INC. | 615,450 | 1,730,800 | $15.83 | $18.04 | $9,743,000 | $31,224,000 | |
| -32.71% | 8.56% | -100,000 | INVESTOR BANCORP INC | 205,713 | 305,713 | $15.35 | $14.14 | $3,158,000 | $4,323,000 | |
| -0.98% | -21.26% | -23,000 | JER INVESTORS TRUST INC. | 2,316,215 | 2,339,215 | $8.48 | $10.77 | $19,642,000 | $25,193,000 | |
| -22.46% | 16.77% | -603,361 | JAKKS PACIFIC, INC. | 2,082,664 | 2,686,025 | $27.57 | $23.61 | $57,419,000 | $63,417,000 | |
| -7.61% | -17.45% | -384,305 | JOURNAL COMMUNICATIONS INC. CL | 4,662,434 | 5,046,739 | $7.38 | $8.94 | $34,409,000 | $45,118,000 | |
| -62.40% | -5.43% | -723,897 | KAPSTONE PAPER AND PACKAGING | 436,103 | 1,160,000 | $6.62 | $7.00 | $2,887,000 | $8,120,000 | |
| -18.56% | 4.75% | -923,759 | LEAPFROG ENTERPRISES INC. | 4,054,058 | 4,977,817 | $7.05 | $6.73 | $28,581,000 | $33,501,000 | |
| -17.36% | -3.99% | -169,659 | LEUCADIA NATIONAL CORPORATION | 807,737 | 977,396 | $45.22 | $47.10 | $36,526,000 | $46,035,000 | |
| -21.52% | -29.43% | -200,000 | LUNDIN MINING CORP | 729,300 | 929,300 | $6.82 | $9.67 | $4,975,000 | $8,983,000 | |
| -20.88% | 17.94% | -569,645 | MDC HOLDINGS INC. | 2,158,686 | 2,728,331 | $43.79 | $37.13 | $94,529,000 | $101,303,000 | |
| -45.30% | -53.05% | -1,841,170 | MGIC INVESTMENT CORP. | 2,223,490 | 4,064,660 | $10.53 | $22.43 | $23,413,000 | $91,170,000 | |
| -16.83% | -6.64% | -144,979 | MIRANT CORP. | 716,229 | 861,208 | $36.39 | $38.98 | $26,064,000 | $33,570,000 | |
| -6.86% | 6.42% | -676,730 | NEWALLIANCE BANCSHARES, INC. | 9,183,705 | 9,860,435 | $12.26 | $11.52 | $112,592,000 | $113,592,000 | |
| -9.69% | -1.57% | -5,162 | OCEAN SHORE HOLDING COMPANY | 48,089 | 53,251 | $9.65 | $9.80 | $464,000 | $522,000 | |
| -18.02% | -12.41% | -132,718 | ONE LIBERTY PROPERTIES | 603,657 | 736,375 | $16.09 | $18.37 | $9,713,000 | $13,527,000 | |
| -96.92% | -17.41% | -630,000 | GOLAR LNG LTD. | 20,000 | 650,000 | $18.10 | $21.92 | $362,000 | $14,245,000 | |
| -74.92% | -7.92% | -4,503,901 | PFIZER INC. | 1,507,495 | 6,011,396 | $20.93 | $22.73 | $31,552,000 | $136,639,000 | |
| -64.62% | 3.79% | -1,188,808 | PHARMACEUTICAL PRODUCT DEV. INC | 650,918 | 1,839,726 | $41.90 | $40.37 | $27,273,000 | $74,270,000 | |
| -6.13% | 2.86% | -260,022 | PHOENIX COMPANIES INC. | 3,983,978 | 4,244,000 | $12.21 | $11.87 | $48,644,000 | $50,376,000 | |
| -20.83% | -7.13% | -627,927 | PROLOGIS TRUST | 2,387,249 | 3,015,176 | $58.86 | $63.38 | $140,513,000 | $191,102,000 | |
| -70.20% | 12.32% | -196,520 | ROCKVILLE FINANCIAL INC. | 83,421 | 279,941 | $13.70 | $12.20 | $1,143,000 | $3,415,000 | |
| -3.81% | -14.06% | -98,300 | RUSS BERRIE AND COMPANY, INC. | 2,478,477 | 2,576,777 | $14.06 | $16.36 | $34,847,000 | $42,156,000 | |
| -6.12% | 20.90% | -939,519 | THE ST. JOE COMPANY | 14,408,116 | 15,347,635 | $42.93 | $35.51 | $618,540,000 | $544,995,000 | |
| -89.73% | 0.03% | -218,393 | SEARS HOLDING CORPORATION | 25,000 | 243,393 | $102.08 | $102.05 | $2,552,000 | $24,838,000 | |
| -2.88% | 14.20% | -140,000 | SUPERIOR INDUSTRIES INT'L, INC. | 4,713,345 | 4,853,345 | $20.75 | $18.17 | $97,802,000 | $88,185,000 | |
| -0.12% | -8.64% | -5,275 | TEJON RANCH CO. | 4,503,190 | 4,508,465 | $37.32 | $40.85 | $168,059,000 | $184,171,000 | |
| -0.12% | -18.55% | -3,200 | THOMAS PROPERTIES GROUP INC. | 2,563,349 | 2,566,549 | $8.78 | $10.78 | $22,506,000 | $27,667,000 | |
| -15.43% | -4.00% | -226,900 | TRINITY INDUSTRIES | 1,243,450 | 1,470,350 | $26.65 | $27.76 | $33,138,000 | $40,817,000 | |
| -2.90% | 0.27% | -21,815 | WESTWOOD HOLDINGS GROUP INC. | 730,822 | 752,637 | $37.70 | $37.60 | $27,552,000 | $28,299,000 | |
| -35.70% | 12.12% | -368,516 | WHITING PETROLEUM CORPORATION | 663,667 | 1,032,183 | $64.65 | $57.66 | $42,906,000 | $59,516,000 | |
| -44.44% | -2.39% | -649,619 | ARCH CAPITAL GROUP LTD. | 812,040 | 1,461,659 | $68.67 | $70.35 | $55,763,000 | $102,828,000 | |
| -2.25% | 23.29% | -246,036 | NABORS INDUSTRIES | 10,703,000 | 10,949,036 | $33.77 | $27.39 | $361,440,000 | $299,894,000 | |
| -11.48% | -6.62% | -6,902 | WHITE MOUNTAINS INSURANCE GROUP | 53,198 | 60,100 | $480.00 | $514.04 | $25,535,000 | $30,894,000 | |