Quarter Ending 09/30/2009 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 LEXMARK INTERNATIONAL INC. CL A 1,910,034 $21.54 $41,142,000
N/A N/A KID BRANDS, INC. 311,837 $6.20 $1,933,000
*****  SOLD OFF
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
N/A N/A BEL FUSE INC. CL A 17,922 $14.06 $252,000
N/A N/A BORLAND SOFTWARE CORPORATION 2,152,932 $1.29 $2,777,000
N/A N/A COUSINS PROPERTIES INC 84,545 $8.50 $719,000
N/A N/A IAMGOLD CORPORATION 124,100 $10.15 $1,259,000
N/A N/A LEXMARK INTERNATIONAL INC. 1,804,904 $15.85 $28,608,000
N/A N/A PS BUSINESS PARKS, INC. 22,100 $48.46 $1,071,000
N/A N/A RUSS BERRIE AND COMPANY, INC. 369,012 $3.91 $1,443,000
N/A N/A SYBASE INC. 28,707 $31.35 $900,000
*****  HOLD POSITIONS
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
0.00% 24.83% AGRIUM, INC. 70,779 70,779 $49.79 $39.88 $3,524,000 $2,823,000
0.00% 16.15% ALTO PALERMO S.A. ADR 99,144 99,144 $6.75 $5.81 $669,000 $576,000
0.00% -1.97% BARCLAYS BANK PLC ETN DJUBS AGR 132,472 132,472 $40.21 $41.02 $5,327,000 $5,434,000
0.00% 6.99% BRANDYWINE OPERATINGNOTE 3.875% 16,500,000 16,500,000 $0.96 $0.89 $15,779,000 $14,748,000
0.00% 8.44% BROOKLYN FEDERAL BANCORP INC. 637,122 637,122 $12.20 $11.25 $7,773,000 $7,168,000
0.00% 9.79% CARVER BANCORP, INC. 218,500 218,500 $6.31 $5.75 $1,379,000 $1,256,000
0.00% 12.76% COHERENT INC. 431,531 431,531 $23.32 $20.68 $10,063,000 $8,924,000
0.00% -0.81% COLONIAL BANKSHARES INC. 50,920 50,920 $7.19 $7.25 $366,000 $369,000
0.00% 34.92% FEDFIRST FINANCIAL CORPORATION  490,036 490,036 $4.21 $3.12 $2,063,000 $1,529,000
0.00% 112.57% FOREST CITY ENTERPRIS CL B CONV 25,800 25,800 $13.76 $6.47 $355,000 $167,000
0.00% 21.49% HKN INC. 47,478 47,478 $3.10 $2.55 $147,000 $121,000
0.00% 21.82% IMATION CORP. 707,509 707,509 $9.27 $7.61 $6,559,000 $5,384,000
0.00% -3.71% INGRAM MICRO INC. 505,450 505,450 $16.85 $17.50 $8,517,000 $8,845,000
0.00% 45.03% INSTEEL INDUSTRIES INC. 1,081,063 1,081,063 $11.95 $8.24 $12,919,000 $8,908,000
0.00% 18.25% INTEL CORPORATION 575,000 575,000 $19.57 $16.55 $11,253,000 $9,516,000
0.00% -8.92% KEARNY FINANCIAL CORP. 660,494 660,494 $10.42 $11.44 $6,882,000 $7,556,000
0.00% -6.95% NEWALLIANCE BANCSHARES, INC. 557,936 557,936 $10.70 $11.50 $5,970,000 $6,416,000
0.00% 10.62% OMEGA FLEX INC. 360,100 360,100 $16.77 $15.16 $6,039,000 $5,459,000
0.00% 12.66% PROLOGIS NOTE 2.25% 14,000,000 14,000,000 $0.90 $0.80 $12,618,000 $11,200,000
0.00% 15.18% PROLOGIS NOTE 1.88% 19,929,000 19,929,000 $0.85 $0.74 $17,015,000 $14,773,000
0.00% 17.84% PROLOGIS NOTE 2.63% 5,000,000 5,000,000 $0.86 $0.73 $4,294,000 $3,644,000
0.00% 43.91% UNITED MICROELECTRONICS CORP. 364,077 364,077 $3.80 $2.64 $1,383,000 $961,000
0.00% 177.78% UNITED REFINING ENERGY CORP WTS 500,000 500,000 $0.25 $0.09 $125,000 $45,000
0.00% 18.49% ASPEN INSURANCE HOLDINGS LTD 312,991 312,991 $26.47 $22.34 $8,285,000 $6,992,000
*****  AUGMENTED POSITIONS
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
0.03% -2.09% 73 ALICO, INC. 269,164 269,091 $29.39 $30.02 $7,911,000 $8,078,000
1.59% -1.09% 145,900 BANK OF NEW YORK MELLON CORP. 9,310,811 9,164,911 $28.99 $29.31 $269,920,000 $268,623,000
0.01% 18.64% 150 BEL FUSE INC. CL B 1,116,474 1,116,324 $19.03 $16.04 $21,247,000 $17,906,000
0.27% 0.24% 25,000 COVANTA HOLDING CORPORATION 9,261,289 9,236,289 $17.00 $16.96 $157,442,000 $156,647,000
2.52% 35.52% 155,700 CROSS COUNTRY HEALTHCARE INC. 6,343,912 6,188,212 $9.31 $6.87 $59,062,000 $42,513,000
111.16% 17.43% 368,800 PROVIDENT ENERGY TRUST 700,566 331,766 $5.78 $4.92 $4,047,000 $1,632,000
2.83% 16.45% 83,246 ENCANA CORPORATION 3,023,533 2,940,287 $57.61 $49.47 $174,186,000 $145,456,000
23.30% 13.91% 66,319 HCC INSURANCE HOLDINGS 350,895 284,576 $27.35 $24.01 $9,597,000 $6,833,000
2.99% 36.93% 97,237 INVESTMENT TECHNOLOGY GROUP 3,349,597 3,252,360 $27.92 $20.39 $93,521,000 $66,316,000
0.02% 11.61% 305 JAKKS PACIFIC, INC. 1,498,560 1,498,255 $14.32 $12.83 $21,459,000 $19,223,000
0.04% 3.41% 1,666 K-SWISS INC. 4,413,109 4,411,443 $8.79 $8.50 $38,791,000 $37,497,000
0.04% 1.25% 300 KAISER ALUMINUM CORP. 837,137 836,837 $36.36 $35.91 $30,438,000 $30,051,000
7.38% 17.21% 267,294 LEUCADIA NATIONAL CORPORATION 3,888,492 3,621,198 $24.72 $21.09 $96,124,000 $76,371,000
0.02% 50.73% 50 NAT'L WESTERN LIFE INSURANCE CO 325,631 325,581 $175.98 $116.75 $57,305,000 $38,012,000
0.01% 14.49% 200 PARK ELECTROCHEMICAL CORPORATIO 1,466,505 1,466,305 $24.65 $21.53 $36,149,000 $31,570,000
9.88% -5.51% 328,217 PHARMACEUTICAL PRODUCT DEV. INC 3,648,811 3,320,594 $21.94 $23.22 $80,055,000 $77,104,000
0.14% 35.87% 600 PRECISION DRILLING TRUST 418,319 417,719 $6.63 $4.88 $2,773,000 $2,038,000
0.02% 14.91% 450 SYNOPSYS INC. 2,217,396 2,216,946 $22.42 $19.51 $49,714,000 $43,253,000
0.38% 20.44% 3,289 WEYERHAEUSER COMPANY 878,048 874,759 $36.65 $30.43 $32,180,000 $26,619,000
0.21% 34.15% 25,000 NABORS INDUSTRIES 12,093,000 12,068,000 $20.90 $15.58 $252,744,000 $188,019,000
*****  REDUCED POSITIONS
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
-2.42% 20.14% -317,629 AVX CORPORATION 12,832,364 13,149,993 $11.93 $9.93 $153,090,000 $130,580,000
-37.92% 15.47% -24,925 ACADIA REALTY TRUST 40,799 65,724 $15.07 $13.05 $615,000 $858,000
-6.27% 56.44% -81,237 ALAMO GROUP, INC. 1,214,721 1,295,958 $15.80 $10.10 $19,193,000 $13,089,000
-4.78% 36.90% -136,901 ALEXANDER & BALDWIN, INC. 2,724,186 2,861,087 $32.09 $23.44 $87,419,000 $67,064,000
-1.56% 82.61% -425,000 AMBAC FINANCIAL GROUP 26,782,362 27,207,362 $1.68 $0.92 $44,994,000 $25,031,000
-3.23% 22.15% -90,225 APPLIED MATERIALS, INC. 2,702,002 2,792,227 $13.40 $10.97 $36,207,000 $30,631,000
-4.97% 0.20% -117,963 BRISTOW GROUP INC. 2,255,715 2,373,678 $29.69 $29.63 $66,972,000 $70,332,000
-0.94% 53.03% -54,500 BRONCO DRILLING CO. INC. 5,740,944 5,795,444 $6.55 $4.28 $37,603,000 $24,805,000
-0.29% 54.90% -60,793 BROOKFIELD ASSET MGMT. CL A 20,971,808 21,032,601 $26.44 $17.07 $554,541,000 $359,026,000
-9.60% 41.25% -19,000 BROOKFIELD PROPERTIES 178,970 197,970 $11.26 $7.97 $2,015,000 $1,578,000
-89.93% -66.47% -4,672,870 CIT GROUP INC. 523,038 5,195,908 $0.72 $2.15 $377,000 $11,171,000
-4.28% 6.08% -5,327 CAPITAL SOUTHWEST 119,194 124,521 $76.75 $72.35 $9,148,000 $9,009,000
-0.45% 40.15% -3,691 CAVCO INDUSTRIES, INC. 818,497 822,188 $35.50 $25.33 $29,057,000 $20,826,000
-13.45% 52.86% -880,292 CIMAREX ENERGY CO. 5,662,324 6,542,616 $43.32 $28.34 $245,292,000 $185,418,000
-1.17% 7.37% -1,127 CONOCOPHILLIPS 95,332 96,459 $45.16 $42.06 $4,305,000 $4,057,000
-1.45% 9.18% -7,521 CONSOLIDATED TOMOKA LAND CO. 510,282 517,803 $38.30 $35.08 $19,544,000 $18,165,000
-45.23% 15.73% -12,800 EASTGROUP PROPERTIES INC. 15,500 28,300 $38.19 $33.00 $592,000 $934,000
-1.97% 19.77% -76,575 ELECTRO SCIENTIFIC IND., INC. 3,810,799 3,887,374 $13.39 $11.18 $51,027,000 $43,461,000
-4.52% 5.72% -202,229 ELECTRONICS FOR IMAGING INC. 4,273,865 4,476,094 $11.27 $10.66 $48,166,000 $47,715,000
-21.01% 4.64% -585,589 ENCORE WIRE CORPORATION 2,200,985 2,786,574 $22.34 $21.35 $49,170,000 $59,493,000
-43.43% 18.38% -24,800 FIRST POTOMAC REALTY TRUST 32,300 57,100 $11.55 $9.75 $373,000 $557,000
-0.47% 102.58% -130,103 FOREST CITY ENTERPRISES INC. 27,506,071 27,636,174 $13.37 $6.60 $367,756,000 $182,399,000
-50.87% 14.37% -228,304 GENESEE & WYOMING INC. 220,513 448,817 $30.32 $26.51 $6,686,000 $11,898,000
-2.22% 28.99% -66,689 GLATFELTER P. H. CO. 2,942,783 3,009,472 $11.48 $8.90 $33,783,000 $26,784,000
-16.18% 29.07% -541,104 HAVERTY FURNITURE CO. INC. 2,803,043 3,344,147 $11.81 $9.15 $33,104,000 $30,599,000
-0.33% 18.96% -4,402 HERLEY INDUSTRIES, INC. 1,316,969 1,321,371 $13.05 $10.97 $17,186,000 $14,495,000
-17.56% 250.48% -617,021 JOURNAL COMMUNICATIONS INC. 2,897,275 3,514,296 $3.68 $1.05 $10,662,000 $3,690,000
-21.92% 29.75% -380,000 KIMCO REALTY CORP 1,353,800 1,733,800 $13.04 $10.05 $17,654,000 $17,425,000
-30.76% 95.04% -1,582,230 LOUISIANA PACIFIC CORP. 3,562,025 5,144,255 $6.67 $3.42 $23,759,000 $17,593,000
-10.52% 79.21% -2,125,000 MBIA INC. 18,068,337 20,193,337 $7.76 $4.33 $140,210,000 $87,437,000
-1.22% 15.38% -19,820 MDC HOLDINGS INC. 1,609,437 1,629,257 $34.74 $30.11 $55,912,000 $49,057,000
-0.24% 7.71% -1,898 NEWMONT MINING CORPORATION 784,746 786,644 $44.02 $40.87 $34,545,000 $32,150,000
-1.01% 25.73% -44,650 POSCO ADR 4,369,579 4,414,229 $103.94 $82.67 $454,174,000 $364,924,000
-1.81% 53.23% -85,000 PIONEER DRILLING CO. 4,607,273 4,692,273 $7.34 $4.79 $33,817,000 $22,476,000
-47.47% 47.90% -992,241 PROLOGIS TRUST 1,098,127 2,090,368 $11.92 $8.06 $13,090,000 $16,848,000
-3.30% 9.93% -79,125 THE ST. JOE COMPANY 2,319,117 2,398,242 $29.12 $26.49 $67,533,000 $63,530,000
-81.22% 55.53% -2,314,525 ST. MARY LAND & EXPLORATION 535,282 2,849,807 $32.46 $20.87 $17,375,000 $59,475,000
-12.96% 3.72% -208,513 SKYLINE CORPORATION 1,400,589 1,609,102 $22.56 $21.75 $31,597,000 $34,998,000
-1.27% -3.89% -31,445 STANLEY FURNITURE COMPANY, INC. 2,440,788 2,472,233 $10.37 $10.79 $25,311,000 $26,675,000
-47.54% N/A -792,900 STONELEIGH PARTNERS ACQ WTS 875,000 1,667,900 $0.00 $0.03 $0 $50,000
-8.54% 0.71% -289,497 SUPERIOR INDUSTRIES INT'L, INC. 3,099,263 3,388,760 $14.20 $14.10 $44,010,000 $47,781,000
-0.06% -3.51% -27,617 SYCAMORE NETWORKS, INC. 45,658,033 45,685,650 $3.02 $3.13 $137,887,000 $142,996,000
-0.20% -3.06% -9,918 TEJON RANCH CO. 4,937,890 4,947,808 $25.68 $26.49 $126,805,000 $131,067,000
-2.48% 20.77% -614,325 TELLABS, INC. 24,154,479 24,768,804 $6.92 $5.73 $167,149,000 $141,926,000
-3.22% 84.08% -93,870 THOMAS PROPERTIES GROUP INC. 2,820,773 2,914,643 $2.89 $1.57 $8,152,000 $4,576,000
-0.33% 9.84% -3,750 TIDEWATER INC. 1,120,578 1,124,328 $47.09 $42.87 $52,768,000 $48,200,000
-6.51% 25.06% -113,845 VAIL RESORTS INC. 1,633,670 1,747,515 $33.54 $26.82 $54,793,000 $46,868,000
-0.48% 43.04% -4,314 VORNADO REALTY TRUST 900,922 905,236 $64.41 $45.03 $58,028,000 $40,762,000
-33.99% 26.04% -977,586 WESTLAKE CHEMICAL CORP. 1,898,133 2,875,719 $25.70 $20.39 $48,782,000 $58,636,000
-1.33% -17.00% -6,590 WESTWOOD HOLDINGS GROUP INC. 487,287 493,877 $34.70 $41.81 $16,909,000 $20,649,000
-1.16% 15.30% -3,460 ARCH CAPITAL GROUP LTD. 293,590 297,050 $67.54 $58.58 $19,829,000 $17,401,000
-1.12% 33.49% -5,269 BROOKFIELD INFRASTRUCTURE PART. 466,843 472,112 $16.46 $12.33 $7,684,000 $5,821,000
-0.24% 22.80% -10,549 MONTPELIER RE HOLDINGS LTD. 4,453,330 4,463,879 $16.32 $13.29 $72,678,000 $59,325,000
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