| Quarter Ending 06/30/2009 | 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 | |
| N/A | N/A | PROVIDENT ENERGY TRUST | 331,766 | $4.92 | $1,632,000 | |||||
| N/A | N/A | HCC INSURANCE HOLDINGS | 284,576 | $24.01 | $6,833,000 | |||||
| ***** SOLD OFF | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| N/A | N/A | ASSOCIATED ESTATES REALTY CORP. | 526,839 | $5.68 | $2,992,000 | |||||
| N/A | N/A | AVATAR HOLDINGS INC. | 36,844 | $14.98 | $552,000 | |||||
| N/A | N/A | BLOCKBUSTER INC. | 138,305 | $0.72 | $100,000 | |||||
| N/A | N/A | COACHMEN INDUSTRIES, INC. | 742,464 | $0.65 | $483,000 | |||||
| N/A | N/A | COMMSCOPE INC. | 218,029 | $11.36 | $2,477,000 | |||||
| N/A | N/A | FBL FINANCIAL GROUP, INC. | 581,302 | $4.15 | $2,412,000 | |||||
| N/A | N/A | GSI GROUP INC. | 730,434 | $0.95 | $694,000 | |||||
| N/A | N/A | JER INVESTORS TRUST INC. | 12,215 | $0.65 | $8,000 | |||||
| N/A | N/A | LUNDIN MINING CORP | 3,371,650 | $1.59 | $5,360,000 | |||||
| N/A | N/A | MGIC INVESTMENT CORP. | 2,080,000 | $1.42 | $2,954,000 | |||||
| N/A | N/A | PATRIOT TRANSPORTATION HOLDINGS | 24,336 | $62.34 | $1,517,000 | |||||
| N/A | N/A | PFIZER INC. | 53,000 | $13.62 | $722,000 | |||||
| N/A | N/A | RADIAN GROUP INC. | 11,649,014 | $1.82 | $21,201,000 | |||||
| N/A | N/A | RESOURCE CAPITAL CORPORATION | 373,149 | $3.04 | $1,134,000 | |||||
| N/A | N/A | THE TIMBERLAND COMPANY | 493,358 | $11.94 | $5,891,000 | |||||
| N/A | N/A | TRIAD GUARANTY INC. | 778,500 | $0.16 | $125,000 | |||||
| ***** HOLD POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 0.00% | 26.59% | ALTO PALERMO S.A. ADR | 99,144 | 99,144 | $5.81 | $4.59 | $576,000 | $455,000 | ||
| 0.00% | 17.95% | AMBAC FINANCIAL GROUP | 27,207,362 | 27,207,362 | $0.92 | $0.78 | $25,031,000 | $21,222,000 | ||
| 0.00% | 5.88% | BARCLAYS BANK PLC ETN IPTH AGRI | 132,472 | 132,472 | $41.02 | $38.74 | $5,434,000 | $5,132,000 | ||
| 0.00% | 2.01% | BROOKLYN FEDERAL BANCORP INC. | 637,122 | 637,122 | $11.25 | $11.03 | $7,168,000 | $7,027,000 | ||
| 0.00% | -5.29% | CAPITAL SOUTHWEST | 124,521 | 124,521 | $72.35 | $76.39 | $9,009,000 | $9,512,000 | ||
| 0.00% | 68.59% | CARVER BANCORP, INC. | 218,500 | 218,500 | $5.75 | $3.41 | $1,256,000 | $745,000 | ||
| 0.00% | 19.81% | COLONIAL BANKSHARES INC. | 50,920 | 50,920 | $7.25 | $6.05 | $369,000 | $308,000 | ||
| 0.00% | -10.85% | FEDFIRST FINANCIAL CORPORATION | 490,036 | 490,036 | $3.12 | $3.50 | $1,529,000 | $1,715,000 | ||
| 0.00% | 75.79% | FOREST CITY ENTERPRISES CL B CV | 25,800 | 25,800 | $6.47 | $3.68 | $167,000 | $95,000 | ||
| 0.00% | 72.86% | HKN INC. | 47,478 | 47,478 | $2.55 | $1.47 | $121,000 | $70,000 | ||
| 0.00% | 17.33% | IAMGOLD CORPORATION | 124,100 | 124,100 | $10.15 | $8.65 | $1,259,000 | $1,073,000 | ||
| 0.00% | -5.46% | MBIA INC. | 20,193,337 | 20,193,337 | $4.33 | $4.58 | $87,437,000 | $92,485,000 | ||
| 0.00% | -5.90% | OMEGA FLEX INC. | 360,100 | 360,100 | $15.16 | $16.11 | $5,459,000 | $5,801,000 | ||
| 0.00% | 31.57% | PS BUSINESS PARKS, INC. | 22,100 | 22,100 | $48.46 | $36.83 | $1,071,000 | $814,000 | ||
| 0.00% | 47.80% | PROLOGIS NOTE 2.25% | 14,000,000 | 14,000,000 | $0.80 | $0.54 | $11,200,000 | $7,578,000 | ||
| 0.00% | 44.27% | PROLOGIS NOTE 1.88% | 19,929,000 | 19,929,000 | $0.74 | $0.51 | $14,773,000 | $10,240,000 | ||
| 0.00% | 43.92% | PROLOGIS NOTE 2.63% | 5,000,000 | 5,000,000 | $0.73 | $0.51 | $3,644,000 | $2,532,000 | ||
| 0.00% | 43.48% | STANLEY FURNITURE COMPANY, INC. | 2,472,233 | 2,472,233 | $10.79 | $7.52 | $26,675,000 | $18,591,000 | ||
| 0.00% | -50.00% | STONELEIGH PARTNERS ACQ WTS | 1,667,900 | 1,667,900 | $0.03 | $0.06 | $50,000 | $100,000 | ||
| 0.00% | 4.34% | UNITED MICROELECTRONICS CORP. | 364,077 | 364,077 | $2.64 | $2.53 | $961,000 | $921,000 | ||
| 0.00% | 12.50% | UNITED REFINING ENERGY CORP WTS | 500,000 | 500,000 | $0.09 | $0.08 | $45,000 | $40,000 | ||
| 0.00% | -0.54% | ASPEN INSURANCE HOLDINGS LTD | 312,991 | 312,991 | $22.34 | $22.46 | $6,992,000 | $7,030,000 | ||
| 0.00% | -6.73% | BROOKFIELD INFRASTRUCTURE PART. | 472,112 | 472,112 | $12.33 | $13.22 | $5,821,000 | $6,241,000 | ||
| ***** AUGMENTED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 9.68% | 23.00% | 5,799 | ACADIA REALTY TRUST | 65,724 | 59,925 | $13.05 | $10.61 | $858,000 | $636,000 | |
| 0.03% | 25.09% | 77 | ALICO, INC. | 269,091 | 269,014 | $30.02 | $24.00 | $8,078,000 | $6,456,000 | |
| 4.32% | 2.05% | 115,641 | APPLIED MATERIALS, INC. | 2,792,227 | 2,676,586 | $10.97 | $10.75 | $30,631,000 | $28,773,000 | |
| 0.02% | 19.35% | 220 | BEL FUSE INC. CL B | 1,116,324 | 1,116,104 | $16.04 | $13.44 | $17,906,000 | $15,000,000 | |
| 2.59% | 38.95% | 5,000 | BROOKFIELD PROPERTIES | 197,970 | 192,970 | $7.97 | $5.74 | $1,578,000 | $1,107,000 | |
| 0.43% | 29.56% | 40,000 | COVANTA HOLDING CORPORATION | 9,236,289 | 9,196,289 | $16.96 | $13.09 | $156,647,000 | $120,379,000 | |
| 4.43% | 4.89% | 262,507 | CROSS COUNTRY HEALTHCARE INC. | 6,188,212 | 5,925,705 | $6.87 | $6.55 | $42,513,000 | $38,813,000 | |
| 21.49% | 83.33% | 4,887,696 | FOREST CITY ENTERPRISES INC. | 27,636,174 | 22,748,478 | $6.60 | $3.60 | $182,399,000 | $81,894,000 | |
| 0.03% | -0.53% | 200 | IMATION CORP. | 707,509 | 707,309 | $7.61 | $7.65 | $5,384,000 | $5,411,000 | |
| 18.67% | -20.10% | 511,783 | INVESTMENT TECHNOLOGY GROUP | 3,252,360 | 2,740,577 | $20.39 | $25.52 | $66,316,000 | $69,940,000 | |
| 24.17% | 3.89% | 291,620 | JAKKS PACIFIC, INC. | 1,498,255 | 1,206,635 | $12.83 | $12.35 | $19,223,000 | $14,902,000 | |
| 0.02% | 55.32% | 200 | KAISER ALUMINUM CORP. | 836,837 | 836,637 | $35.91 | $23.12 | $30,051,000 | $19,343,000 | |
| 6.04% | 31.90% | 98,700 | KIMCO REALTY CORP | 1,733,800 | 1,635,100 | $10.05 | $7.62 | $17,425,000 | $12,459,000 | |
| 25.47% | 41.64% | 735,050 | LEUCADIA NATIONAL CORPORATION | 3,621,198 | 2,886,148 | $21.09 | $14.89 | $76,371,000 | $42,975,000 | |
| 0.33% | 23.70% | 14,725 | POSCO ADR | 4,414,229 | 4,399,504 | $82.67 | $66.83 | $364,924,000 | $294,019,000 | |
| 306.33% | -2.11% | 2,503,368 | PHARMACEUTICAL PRODUCT DEV. INC | 3,320,594 | 817,226 | $23.22 | $23.72 | $77,104,000 | $19,385,000 | |
| 15.26% | 82.09% | 55,319 | PRECISION DRILLING TRUST | 417,719 | 362,400 | $4.88 | $2.68 | $2,038,000 | $971,000 | |
| 2.00% | 17.23% | 894,770 | SYCAMORE NETWORKS, INC. | 45,685,650 | 44,790,880 | $3.13 | $2.67 | $142,996,000 | $119,591,000 | |
| 0.35% | 28.16% | 17,394 | TEJON RANCH CO. | 4,947,808 | 4,930,414 | $26.49 | $20.67 | $131,067,000 | $101,912,000 | |
| 6.76% | 33.07% | 184,594 | THOMAS PROPERTIES GROUP INC. | 2,914,643 | 2,730,049 | $1.57 | $1.18 | $4,576,000 | $3,221,000 | |
| 7.11% | 35.47% | 60,079 | VORNADO REALTY TRUST | 905,236 | 845,157 | $45.03 | $33.24 | $40,762,000 | $28,093,000 | |
| 2180.69% | 10.42% | 836,404 | WEYERHAEUSER COMPANY | 874,759 | 38,355 | $30.43 | $27.56 | $26,619,000 | $1,057,000 | |
| 0.42% | 55.96% | 50,000 | NABORS INDUSTRIES | 12,068,000 | 12,018,000 | $15.58 | $9.99 | $188,019,000 | $120,060,000 | |
| ***** REDUCED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| -2.89% | 9.36% | -391,850 | AVX CORPORATION | 13,149,993 | 13,541,843 | $9.93 | $9.08 | $130,580,000 | $122,960,000 | |
| -36.11% | 11.43% | -40,000 | AGRIUM, INC. | 70,779 | 110,779 | $39.88 | $35.79 | $2,823,000 | $3,965,000 | |
| -0.15% | -5.25% | -2,000 | ALAMO GROUP, INC. | 1,295,958 | 1,297,958 | $10.10 | $10.66 | $13,089,000 | $13,836,000 | |
| -7.03% | 23.17% | -216,336 | ALEXANDER & BALDWIN, INC. | 2,861,087 | 3,077,423 | $23.44 | $19.03 | $67,064,000 | $58,563,000 | |
| -2.29% | 3.75% | -214,900 | BANK OF NEW YORK MELLON CORP. | 9,164,911 | 9,379,811 | $29.31 | $28.25 | $268,623,000 | $264,979,000 | |
| -51.72% | 13.22% | -19,197 | BEL FUSE INC. CL A | 17,922 | 37,119 | $14.06 | $12.42 | $252,000 | $461,000 | |
| -37.93% | 180.49% | -1,315,439 | BORLAND SOFTWARE CORPORATION | 2,152,932 | 3,468,371 | $1.29 | $0.46 | $2,777,000 | $1,595,000 | |
| -5.71% | 31.19% | -1,000,000 | BRANDYWINE OPERATING NOTE 3.875 | 16,500,000 | 17,500,000 | $0.89 | $0.68 | $14,748,000 | $11,923,000 | |
| -20.15% | 38.26% | -599,126 | BRISTOW GROUP INC. | 2,373,678 | 2,972,804 | $29.63 | $21.43 | $70,332,000 | $63,707,000 | |
| -5.55% | -18.63% | -340,765 | BRONCO DRILLING CO. INC. | 5,795,444 | 6,136,209 | $4.28 | $5.26 | $24,805,000 | $32,276,000 | |
| -1.29% | 23.88% | -275,639 | BROOKFIELD ASSET MGMT. CL A | 21,032,601 | 21,308,240 | $17.07 | $13.78 | $359,026,000 | $293,627,000 | |
| -41.00% | -24.56% | -3,610,772 | CIT GROUP INC. | 5,195,908 | 8,806,680 | $2.15 | $2.85 | $11,171,000 | $25,099,000 | |
| -2.07% | 7.33% | -17,352 | CAVCO INDUSTRIES, INC. | 822,188 | 839,540 | $25.33 | $23.60 | $20,826,000 | $19,813,000 | |
| -14.69% | 54.19% | -1,126,389 | CIMAREX ENERGY CO. | 6,542,616 | 7,669,005 | $28.34 | $18.38 | $185,418,000 | $140,957,000 | |
| -9.52% | 19.88% | -45,403 | COHERENT INC. | 431,531 | 476,934 | $20.68 | $17.25 | $8,924,000 | $8,227,000 | |
| -2.29% | 7.40% | -2,261 | CONOCOPHILLIPS | 96,459 | 98,720 | $42.06 | $39.16 | $4,057,000 | $3,866,000 | |
| -7.90% | 18.12% | -44,397 | CONSOLIDATED TOMOKA LAND CO. | 517,803 | 562,200 | $35.08 | $29.70 | $18,165,000 | $16,697,000 | |
| -3.01% | 32.14% | -2,625 | COUSINS PROPERTIES INC | 84,545 | 87,170 | $8.50 | $6.44 | $719,000 | $561,000 | |
| -9.87% | 17.63% | -3,100 | EASTGROUP PROPERTIES INC. | 28,300 | 31,400 | $33.00 | $28.06 | $934,000 | $881,000 | |
| -4.30% | 88.86% | -174,525 | ELECTRO SCIENTIFIC INDUSTRIES, | 3,887,374 | 4,061,899 | $11.18 | $5.92 | $43,461,000 | $24,046,000 | |
| -2.01% | 8.77% | -91,955 | ELECTRONICS FOR IMAGING INC. | 4,476,094 | 4,568,049 | $10.66 | $9.80 | $47,715,000 | $44,767,000 | |
| -1.52% | 21.82% | -45,407 | ENCANA CORPORATION | 2,940,287 | 2,985,694 | $49.47 | $40.61 | $145,456,000 | $121,249,000 | |
| -22.45% | -0.37% | -806,839 | ENCORE WIRE CORPORATION | 2,786,574 | 3,593,413 | $21.35 | $21.43 | $59,493,000 | $77,007,000 | |
| -5.62% | 32.62% | -3,400 | FIRST POTOMAC REALTY TRUST | 57,100 | 60,500 | $9.75 | $7.36 | $557,000 | $445,000 | |
| -39.57% | 24.75% | -293,846 | GENESEE & WYOMING INC. | 448,817 | 742,663 | $26.51 | $21.25 | $11,898,000 | $15,782,000 | |
| -12.56% | 42.62% | -432,148 | GLATFELTER P. H. CO. | 3,009,472 | 3,441,620 | $8.90 | $6.24 | $26,784,000 | $21,476,000 | |
| -16.75% | -13.11% | -672,832 | HAVERTY FURNITURE CO. INC. | 3,344,147 | 4,016,979 | $9.15 | $10.53 | $30,599,000 | $42,299,000 | |
| -5.69% | -8.28% | -79,665 | HERLEY INDUSTRIES, INC. | 1,321,371 | 1,401,036 | $10.97 | $11.96 | $14,495,000 | $16,756,000 | |
| -17.87% | 38.45% | -110,000 | INGRAM MICRO INC. | 505,450 | 615,450 | $17.50 | $12.64 | $8,845,000 | $7,779,000 | |
| -9.71% | 18.39% | -116,293 | INSTEEL INDUSTRIES INC. | 1,081,063 | 1,197,356 | $8.24 | $6.96 | $8,908,000 | $8,334,000 | |
| -4.17% | 9.96% | -25,000 | INTEL CORPORATION | 575,000 | 600,000 | $16.55 | $15.05 | $9,516,000 | $9,030,000 | |
| -9.93% | 40.02% | -387,625 | JOURNAL COMMUNICATIONS INC. | 3,514,296 | 3,901,921 | $1.05 | $0.75 | $3,690,000 | $2,926,000 | |
| -5.53% | -0.47% | -258,320 | K-SWISS INC., CL A | 4,411,443 | 4,669,763 | $8.50 | $8.54 | $37,497,000 | $39,880,000 | |
| -0.60% | 9.16% | -4,000 | KEARNY FINANCIAL CORP. | 660,494 | 664,494 | $11.44 | $10.48 | $7,556,000 | $6,964,000 | |
| -10.61% | -6.05% | -214,130 | LEXMARK INTERNATIONAL INC. | 1,804,904 | 2,019,034 | $15.85 | $16.87 | $28,608,000 | $34,061,000 | |
| -11.76% | 53.36% | -685,295 | LOUISIANA PACIFIC CORP. | 5,144,255 | 5,829,550 | $3.42 | $2.23 | $17,593,000 | $13,000,000 | |
| -15.12% | -3.31% | -290,325 | MDC HOLDINGS INC. | 1,629,257 | 1,919,582 | $30.11 | $31.14 | $49,057,000 | $59,776,000 | |
| -1.10% | 3.32% | -3,635 | NAT'L WESTERN LIFE INSURANCE CO | 325,581 | 329,216 | $116.75 | $113.00 | $38,012,000 | $37,201,000 | |
| -10.43% | -2.04% | -65,000 | NEWALLIANCE BANCSHARES, INC. | 557,936 | 622,936 | $11.50 | $11.74 | $6,416,000 | $7,313,000 | |
| -20.71% | -8.69% | -205,414 | NEWMONT MINING CORPORATION | 786,644 | 992,058 | $40.87 | $44.76 | $32,150,000 | $44,405,000 | |
| -1.90% | 24.60% | -28,389 | PARK ELECTROCHEMICAL CORPORATIO | 1,466,305 | 1,494,694 | $21.53 | $17.28 | $31,570,000 | $25,828,000 | |
| -8.58% | 46.04% | -440,599 | PIONEER DRILLING CO. | 4,692,273 | 5,132,872 | $4.79 | $3.28 | $22,476,000 | $16,836,000 | |
| -26.10% | 24.00% | -738,211 | PROLOGIS TRUST | 2,090,368 | 2,828,579 | $8.06 | $6.50 | $16,848,000 | $18,385,000 | |
| -58.55% | 196.31% | -521,319 | RUSS BERRIE AND COMPANY, INC. | 369,012 | 890,331 | $3.91 | $1.32 | $1,443,000 | $1,175,000 | |
| -17.86% | 58.24% | -521,391 | THE ST. JOE COMPANY | 2,398,242 | 2,919,633 | $26.49 | $16.74 | $63,530,000 | $48,875,000 | |
| -31.32% | 57.75% | -1,299,650 | ST. MARY LAND & EXPLORATION | 2,849,807 | 4,149,457 | $20.87 | $13.23 | $59,475,000 | $54,897,000 | |
| -6.02% | 14.41% | -103,027 | SKYLINE CORPORATION | 1,609,102 | 1,712,129 | $21.75 | $19.01 | $34,998,000 | $32,548,000 | |
| -20.38% | 18.98% | -867,368 | SUPERIOR INDUSTRIES INT'L, INC. | 3,388,760 | 4,256,128 | $14.10 | $11.85 | $47,781,000 | $50,436,000 | |
| -91.60% | 3.50% | -313,225 | SYBASE INC. | 28,707 | 341,932 | $31.35 | $30.29 | $900,000 | $10,357,000 | |
| -3.25% | -5.88% | -74,530 | SYNOPSYS INC. | 2,216,946 | 2,291,476 | $19.51 | $20.73 | $43,253,000 | $47,502,000 | |
| -22.15% | 25.11% | -7,048,189 | TELLABS, INC. | 24,768,804 | 31,816,993 | $5.73 | $4.58 | $141,926,000 | $145,722,000 | |
| -20.03% | 15.46% | -281,592 | TIDEWATER INC. | 1,124,328 | 1,405,920 | $42.87 | $37.13 | $48,200,000 | $52,202,000 | |
| -8.81% | 31.28% | -168,925 | VAIL RESORTS INC. | 1,747,515 | 1,916,440 | $26.82 | $20.43 | $46,868,000 | $39,153,000 | |
| -26.51% | 39.37% | -1,037,369 | WESTLAKE CHEMICAL CORP. | 2,875,719 | 3,913,088 | $20.39 | $14.63 | $58,636,000 | $57,248,000 | |
| -0.43% | 6.96% | -2,133 | WESTWOOD HOLDINGS GROUP INC. | 493,877 | 496,010 | $41.81 | $39.09 | $20,649,000 | $19,389,000 | |
| -14.39% | 8.76% | -49,946 | ARCH CAPITAL GROUP LTD. | 297,050 | 346,996 | $58.58 | $53.86 | $17,401,000 | $18,689,000 | |
| -5.05% | 2.55% | -237,657 | MONTPELIER RE HOLDINGS LTD. | 4,463,879 | 4,701,536 | $13.29 | $12.96 | $59,325,000 | $60,932,000 | |
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