| Enlightened American: Third Ave Mgmt Q1 2008 13F HR SEC Filing | ||||||||||
| Quarter Ending 06/30/2008 | 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 | |
| INDUSTRIAS BACHOCO, S A B DE | 456,463,108 | $0.61 | $277,847,000 | |||||||
| CIT GROUP INC. 8.75% PFD SER C | 104,900 | $40.88 | $4,288,000 | |||||||
| BANCOLOMBIA S.A. ADR | 10,600 | $31.42 | $333,000 | |||||||
| UNITED REFINING ENRGY WTS 12/11 | 500,000 | $0.61 | $305,000 | |||||||
| ASPEN INSURANCE HOLDINGS LTD | 710,818 | $23.67 | $16,825,000 | |||||||
| ***** SOLD OFF | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| ACA CAPITAL HOLDINGS INC. | 4,609,419 | $0.27 | $1,245,000 | |||||||
| ABITIBIBOWATER INC | 25,000 | $12.92 | $323,000 | |||||||
| AMERICAN FIN'L REALTY 4.375% 07 | 5,000,000 | $0.99 | $4,944,000 | |||||||
| HOME FEDERAL BANCORP INC/ LA | 274,157 | $8.00 | $2,193,000 | |||||||
| IAMGOLD CORPORATION | 1,018,700 | $7.42 | $7,555,000 | |||||||
| INDUSTRIAS BACHOCO, S.A. DE C.V | 608,089 | $28.91 | $17,580,000 | |||||||
| INVESTOR BANCORP INC | 205,713 | $15.35 | $3,158,000 | |||||||
| KAPSTONE PAPER AND PACKAGING | 436,103 | $6.62 | $2,887,000 | |||||||
| KAPSTONE PAPER & PKG WTS | 300,000 | $1.69 | $507,000 | |||||||
| ALLIANZ SE | 111,058 | $198.83 | $22,082,000 | |||||||
| LIBERTY MEDIA INTERACTIVE CL A | 261,875 | $16.14 | $4,227,000 | |||||||
| LIBERTY MEDIA HOLDINGS - CAP SR | 49,375 | $15.74 | $777,000 | |||||||
| MIRANT CORP. | 716,229 | $36.39 | $26,064,000 | |||||||
| OCEAN SHORE HOLDING COMPANY | 48,089 | $9.65 | $464,000 | |||||||
| GOLAR LNG LTD. | 20,000 | $18.10 | $362,000 | |||||||
| PZENA INVESTMENT MANAGEMENT | 190,300 | $11.32 | $2,154,000 | |||||||
| ROCKVILLE FINANCIAL INC. | 83,421 | $13.70 | $1,143,000 | |||||||
| SWS GROUP INC. | 281,385 | $12.23 | $3,441,000 | |||||||
| TECHNITROL, INC. | 172,700 | $23.13 | $3,995,000 | |||||||
| UNITED FINANCIAL BANCORP INC. | 275,000 | $11.08 | $3,047,000 | |||||||
| VISHAY INTERTECNOLOGY, INC. | 555,000 | $9.06 | $5,028,000 | |||||||
| WAUWATOSA HOLDINGS INC. | 72,085 | $11.90 | $858,000 | |||||||
| CASTLEPOINT HOLDINGS LTD. | 622,218 | $9.73 | $6,054,000 | |||||||
| CRM HOLDINGS, LTD. | 45,500 | $5.01 | $228,000 | |||||||
| WHITE MOUNTAINS INSURANCE GROUP | 53,198 | $480.00 | $25,535,000 | |||||||
| ***** HOLD POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 0.00% | -19.97% | ALTO PALERMO S.A. ADR | 99,144 | 99,144 | $12.00 | $15.00 | $1,190,000 | $1,487,000 | ||
| 0.00% | -6.38% | ASSOCIATED ESTATES REALTY CORP. | 1,348,100 | 1,348,100 | $10.71 | $11.44 | $14,438,000 | $15,422,000 | ||
| 0.00% | -30.51% | AVATAR HOLDINGS INC. | 408,775 | 408,775 | $30.29 | $43.59 | $12,382,000 | $17,819,000 | ||
| 0.00% | 15.85% | IPATH DOW JONES AIG AGRI. TOTAL | 132,472 | 132,472 | $66.92 | $57.76 | $8,865,000 | $7,652,000 | ||
| 0.00% | -6.12% | BERKSHIRE HILLS BANCORP INC. | 390,800 | 390,800 | $23.65 | $25.19 | $9,242,000 | $9,844,000 | ||
| 0.00% | -0.51% | BROOKLYN FEDERAL BANCORP INC. | 637,122 | 637,122 | $12.05 | $12.11 | $7,677,000 | $7,716,000 | ||
| 0.00% | -25.08% | CARVER BANCORP, INC. | 218,500 | 218,500 | $8.75 | $11.68 | $1,912,000 | $2,552,000 | ||
| 0.00% | 1.52% | COLONIAL BANKSHARES INC. | 50,920 | 50,920 | $10.51 | $10.35 | $535,000 | $527,000 | ||
| 0.00% | 13.45% | DATASCOPE CORPORATION | 342,300 | 342,300 | $47.00 | $41.43 | $16,088,000 | $14,181,000 | ||
| 0.00% | 16.36% | ENCORE WIRE CORPORATION | 3,964,861 | 3,964,861 | $21.19 | $18.21 | $84,015,000 | $72,200,000 | ||
| 0.00% | -3.48% | FAIR ISAAC CORPORATION | 351,082 | 351,082 | $20.77 | $21.52 | $7,292,000 | $7,555,000 | ||
| 0.00% | -35.70% | FEDFIRST FINANCIAL CORPORATION | 490,036 | 490,036 | $5.47 | $8.51 | $2,680,000 | $4,168,000 | ||
| 0.00% | -0.84% | FIRST POTOMAC REALTY TRUST | 1,542,686 | 1,542,686 | $15.24 | $15.37 | $23,511,000 | $23,711,000 | ||
| 0.00% | -0.26% | GSI GROUP INC. | 1,955,523 | 1,955,523 | $7.76 | $7.78 | $15,175,000 | $15,214,000 | ||
| 0.00% | 3.00% | GENEVA ACQUISITION CORP UNIT | 160,000 | 160,000 | $5.80 | $5.63 | $928,000 | $901,000 | ||
| 0.00% | 38.10% | GENEVA ACQUISITION CORP - WARRA | 320,000 | 320,000 | $0.18 | $0.13 | $58,000 | $42,000 | ||
| 0.00% | -12.35% | GOUVERNEUR BANCORP INC. | 205,511 | 205,511 | $8.15 | $9.30 | $1,675,000 | $1,911,000 | ||
| 0.00% | 32.05% | HKN INC (F.K.A. HARKEN ENERGY C | 47,478 | 47,478 | $11.54 | $8.74 | $548,000 | $415,000 | ||
| 0.00% | -54.79% | IDT CORPORATION CL C | 449,743 | 449,743 | $1.51 | $3.34 | $679,000 | $1,502,000 | ||
| 0.00% | -19.79% | IRSA INVESTMENTS AND REP. INC. | 800,000 | 800,000 | $11.27 | $14.05 | $9,016,000 | $11,240,000 | ||
| 0.00% | 0.79% | IMATION CORP. | 913,465 | 913,465 | $22.92 | $22.74 | $20,937,000 | $20,772,000 | ||
| 0.00% | 12.12% | INGRAM MICRO INC. | 615,450 | 615,450 | $17.75 | $15.83 | $10,924,000 | $9,743,000 | ||
| 0.00% | 4.28% | JEFFERIES GROUP | 894,400 | 894,400 | $16.82 | $16.13 | $15,044,000 | $14,427,000 | ||
| 0.00% | -10.13% | LUNDIN MINING CORP | 729,300 | 729,300 | $6.13 | $6.82 | $4,471,000 | $4,975,000 | ||
| 0.00% | -41.97% | MGIC INVESTMENT CORP. | 2,223,490 | 2,223,490 | $6.11 | $10.53 | $13,586,000 | $23,413,000 | ||
| 0.00% | 100.00% | MEDIA & ENTERTAINMENT HOLDINGS, | 550,000 | 550,000 | $0.36 | $0.18 | $198,000 | $99,000 | ||
| 0.00% | 1.60% | MEDIA & ENTERTAINMENT HOLDINGS, | 325,000 | 325,000 | $7.60 | $7.48 | $2,470,000 | $2,431,000 | ||
| 0.00% | 41.48% | OMEGA FLEX INC. | 360,100 | 360,100 | $15.20 | $10.74 | $5,474,000 | $3,869,000 | ||
| 0.00% | 1.98% | PATRIOT TRANSPORTATION HOLDINGS | 90,000 | 90,000 | $80.00 | $78.44 | $7,200,000 | $7,060,000 | ||
| 0.00% | 17.41% | PRECISION DRILLING TRUST | 437,400 | 437,400 | $27.24 | $23.20 | $11,915,000 | $10,148,000 | ||
| 0.00% | 2.60% | REIS, INC. | 309,191 | 309,191 | $5.49 | $5.35 | $1,697,000 | $1,654,000 | ||
| 0.00% | -27.82% | SEARS HOLDING CORPORATION | 25,000 | 25,000 | $73.68 | $102.08 | $1,842,000 | $2,552,000 | ||
| 0.00% | -7.15% | STANDEX INTERNATIONAL CORPORATI | 480,500 | 480,500 | $20.74 | $22.34 | $9,966,000 | $10,734,000 | ||
| 0.00% | 25.08% | STONELEIGH PARTNERS WARRANTS | 1,750,000 | 1,750,000 | $0.45 | $0.36 | $788,000 | $630,000 | ||
| 0.00% | 44.90% | TAILWIND FINANCIAL INC.WTS | 375,000 | 375,000 | $0.19 | $0.13 | $71,000 | $49,000 | ||
| 0.00% | 2.99% | TAILWIND FINANCIAL INC. UNITS | 187,500 | 187,500 | $7.90 | $7.67 | $1,481,000 | $1,438,000 | ||
| 0.00% | 20.00% | TRANSFORMA ACQ. GROUP | 100,000 | 100,000 | $0.30 | $0.25 | $30,000 | $25,000 | ||
| 0.00% | -79.20% | TRIAD GUARANTY INC. | 1,300,000 | 1,300,000 | $1.04 | $5.00 | $1,352,000 | $6,500,000 | ||
| ***** AUGMENTED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 178.99% | -76.70% | 18,335,000 | AMBAC FINANCIAL GROUP | 28,578,859 | 10,243,859 | $1.34 | $5.75 | $38,296,000 | $58,902,000 | |
| 3.36% | -9.35% | 327,300 | BANK OF NEW YORK MELLON CORP. | 10,054,937 | 9,727,637 | $37.83 | $41.73 | $380,378,000 | $405,934,000 | |
| 0.99% | 14.09% | 60,488 | BRONCO DRILLING CO. INC. | 6,166,451 | 6,105,963 | $18.38 | $16.11 | $113,339,000 | $98,367,000 | |
| 50.06% | -14.64% | 360,334 | CBRE REALTY FINANCE INC. | 1,080,103 | 719,769 | $3.44 | $4.03 | $3,716,000 | $2,901,000 | |
| 24.38% | -42.53% | 2,083,354 | CIT GROUP INC. | 10,628,999 | 8,545,645 | $6.81 | $11.85 | $72,383,000 | $101,266,000 | |
| 2.70% | -8.40% | 7,285 | CALIFORNIA FIRST NATIONAL BANK | 277,592 | 270,307 | $9.60 | $10.48 | $2,665,000 | $2,833,000 | |
| 0.27% | -24.96% | 1,500 | CONSOLIDATED TOMOKA LAND CO. | 564,650 | 563,150 | $42.06 | $56.05 | $23,749,000 | $31,565,000 | |
| 3.62% | -2.95% | 319,400 | COVANTA HOLDING CORPORATION | 9,136,289 | 8,816,889 | $26.69 | $27.50 | $243,848,000 | $242,464,000 | |
| 324.41% | -59.01% | 1,826,680 | CRYSTAL RIVER CAPITAL INC. | 2,389,755 | 563,075 | $3.66 | $8.93 | $8,747,000 | $5,028,000 | |
| 16.12% | -14.02% | 523,629 | ELECTRO SCIENTIFIC INDUSTRIES, | 3,771,093 | 3,247,464 | $14.17 | $16.48 | $53,436,000 | $53,518,000 | |
| 5.86% | -2.15% | 327,242 | ELECTRONICS FOR IMAGING INC. | 5,916,191 | 5,588,949 | $14.60 | $14.92 | $86,376,000 | $83,387,000 | |
| 34.88% | -30.22% | 176,823 | FBL FINANCIAL GROUP, INC. | 683,823 | 507,000 | $19.88 | $28.49 | $13,594,000 | $14,444,000 | |
| 1.83% | -12.45% | 368,262 | FOREST CITY ENTERPRISES INC. CL | 20,502,375 | 20,134,113 | $32.22 | $36.80 | $660,587,000 | $740,935,000 | |
| 1.90% | 1.42% | 80,000 | INTEL CORPORATION | 4,290,000 | 4,210,000 | $21.48 | $21.18 | $92,149,000 | $89,168,000 | |
| 0.69% | -25.71% | 16,000 | JER INVESTORS TRUST INC. | 2,332,215 | 2,316,215 | $6.30 | $8.48 | $14,693,000 | $19,642,000 | |
| 3.73% | -7.08% | 191,045 | K-SWISS INC., CL A | 5,317,616 | 5,126,571 | $14.70 | $15.82 | $78,169,000 | $81,102,000 | |
| 4.89% | -22.17% | 199,018 | LEGG MASON INC. | 4,266,329 | 4,067,311 | $43.57 | $55.98 | $185,884,000 | $227,688,000 | |
| 0.10% | 8.82% | 2,500 | LEXMARK INTERNATIONAL INC. CL A | 2,614,065 | 2,611,565 | $33.43 | $30.72 | $87,388,000 | $80,227,000 | |
| 14.39% | -64.08% | 4,925,654 | MBIA INC. | 39,152,491 | 34,226,837 | $4.39 | $12.22 | $171,879,000 | $418,252,000 | |
| 7.11% | -10.80% | 153,537 | MDC HOLDINGS INC. | 2,312,223 | 2,158,686 | $39.06 | $43.79 | $90,315,000 | $94,529,000 | |
| 3.50% | -3.07% | 70,000 | MICROSOFT CORPORATION | 2,070,000 | 2,000,000 | $27.51 | $28.38 | $56,946,000 | $56,760,000 | |
| 0.71% | 0.79% | 2,346 | NATIONAL WESTERN LIFE INSURANCE | 330,909 | 328,563 | $218.50 | $216.79 | $72,304,000 | $71,229,000 | |
| 2.99% | 9.08% | 127,000 | POSCO ADR | 4,377,594 | 4,250,594 | $129.78 | $118.98 | $568,124,000 | $505,736,000 | |
| 8.47% | -5.96% | 94,287 | PARK ELECTROCHEMICAL CORPORATIO | 1,207,746 | 1,113,459 | $24.31 | $25.85 | $29,360,000 | $28,783,000 | |
| 60.47% | -9.40% | 35,239 | ULTRASHORT FTSE/XINHUA CHINA | 93,513 | 58,274 | $84.51 | $93.28 | $7,903,000 | $5,436,000 | |
| 62.57% | -8.16% | 36,464 | ULTRASHORT MSCI EMERGING MKTS | 94,742 | 58,278 | $75.59 | $82.31 | $7,162,000 | $4,797,000 | |
| 3.48% | 14.84% | 85,000 | RAYMOND JAMES FINANCIAL | 2,529,062 | 2,444,062 | $26.39 | $22.98 | $66,742,000 | $56,165,000 | |
| 15.58% | -15.53% | 197,096 | SKYLINE CORPORATION | 1,462,259 | 1,265,163 | $23.50 | $27.82 | $34,363,000 | $35,197,000 | |
| 105.08% | -39.68% | 1,050,800 | SUNCOR ENERGY INC. | 2,050,800 | 1,000,000 | $58.12 | $96.35 | $119,192,000 | $96,350,000 | |
| 51.08% | -12.02% | 12,723,425 | SYCAMORE NETWORKS, INC. | 37,632,950 | 24,909,525 | $3.22 | $3.66 | $121,178,000 | $91,169,000 | |
| 5.25% | -3.38% | 236,505 | TEJON RANCH CO. | 4,739,695 | 4,503,190 | $36.06 | $37.32 | $170,913,000 | $168,059,000 | |
| 7.55% | -14.68% | 1,751,800 | TELLABS, INC.` | 24,951,431 | 23,199,631 | $4.65 | $5.45 | $116,024,000 | $126,438,000 | |
| 0.82% | 12.07% | 20,900 | THOMAS PROPERTIES GROUP INC. | 2,584,249 | 2,563,349 | $9.84 | $8.78 | $25,429,000 | $22,506,000 | |
| 1.04% | 18.00% | 12,500 | TIDEWATER INC. | 1,217,215 | 1,204,715 | $65.03 | $55.11 | $79,155,000 | $66,392,000 | |
| 25.67% | -11.31% | 282,605 | VAIL RESORTS INC. | 1,383,595 | 1,100,990 | $42.83 | $48.29 | $59,259,000 | $53,167,000 | |
| 4.63% | 13.87% | 284,828 | WESTLAKE CHEMICAL CORP. | 6,440,788 | 6,155,960 | $14.86 | $13.05 | $95,710,000 | $80,335,000 | |
| 1.40% | 45.78% | 150,000 | NABORS INDUSTRIES | 10,853,000 | 10,703,000 | $49.23 | $33.77 | $534,293,000 | $361,440,000 | |
| ***** REDUCED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| -0.04% | -11.71% | -7,077 | AVX CORPORATION | 19,320,537 | 19,327,614 | $11.31 | $12.81 | $218,515,000 | $247,587,000 | |
| -0.10% | -4.14% | -2,500 | ACADIA REALTY TRUST | 2,562,110 | 2,564,610 | $23.15 | $24.15 | $59,313,000 | $61,935,000 | |
| -2.50% | -3.20% | -63,819 | ALAMO GROUP, INC. | 2,489,015 | 2,552,834 | $20.59 | $21.27 | $51,249,000 | $54,299,000 | |
| -0.27% | 5.73% | -5,000 | ALEXANDER & BALDWIN, INC. | 1,837,364 | 1,842,364 | $45.55 | $43.08 | $83,692,000 | $79,369,000 | |
| -3.85% | -21.50% | -13,635 | ALICO, INC. | 340,201 | 353,836 | $34.66 | $44.15 | $11,791,000 | $15,622,000 | |
| -7.53% | 19.03% | -233,287 | ALLIANCE DATA SYSTEMS CORP. | 2,865,183 | 3,098,470 | $56.55 | $47.51 | $162,026,000 | $147,208,000 | |
| -3.87% | -7.71% | -1,700 | AMERICAN LAND LEASE INC. | 42,228 | 43,928 | $18.99 | $20.58 | $802,000 | $904,000 | |
| -5.41% | -2.15% | -82,500 | APPLIED MATERIALS, INC. | 1,441,259 | 1,523,759 | $19.09 | $19.51 | $27,514,000 | $29,729,000 | |
| -32.75% | -10.79% | -86,612 | BEL FUSE INC. CL A | 177,876 | 264,488 | $28.00 | $31.39 | $4,981,000 | $8,302,000 | |
| -8.34% | -11.31% | -100,077 | BEL FUSE INC. CL B | 1,100,257 | 1,200,334 | $24.71 | $27.86 | $27,187,000 | $33,441,000 | |
| -63.17% | -32.68% | -6,425,953 | BORLAND SOFTWARE CORPORATION | 3,747,188 | 10,173,141 | $1.36 | $2.02 | $5,096,000 | $20,550,000 | |
| -2.04% | -7.79% | -31,833 | BRISTOW GROUP INC. | 1,531,641 | 1,563,474 | $49.49 | $53.67 | $75,801,000 | $83,912,000 | |
| -3.91% | 21.28% | -996,501 | BROOKFIELD ASSET MGMT. | 24,473,987 | 25,470,488 | $32.54 | $26.83 | $796,384,000 | $683,373,000 | |
| -2.51% | -7.87% | -87,130 | BROOKFIELD PROPERTIES | 3,389,932 | 3,477,062 | $17.79 | $19.31 | $60,307,000 | $67,142,000 | |
| -2.10% | -16.81% | -111,323 | BROOKLINE BANCORP INC | 5,187,055 | 5,298,378 | $9.55 | $11.48 | $49,536,000 | $60,825,000 | |
| -1.00% | -15.75% | -1,290 | CAPITAL SOUTHWEST | 127,521 | 128,811 | $104.23 | $123.72 | $13,292,000 | $15,936,000 | |
| -3.81% | -6.59% | -28,083 | CAVCO INDUSTRIES, INC. | 708,732 | 736,815 | $32.73 | $35.04 | $23,197,000 | $25,818,000 | |
| -15.08% | 27.27% | -945,457 | CIMAREX ENERGY CO. | 5,324,396 | 6,269,853 | $69.67 | $54.74 | $370,951,000 | $343,212,000 | |
| -22.31% | -28.86% | -490,807 | COACHMEN INDUSTRIES, INC. | 1,709,004 | 2,199,811 | $2.12 | $2.98 | $3,623,000 | $6,555,000 | |
| -18.23% | 7.17% | -152,827 | COHERENT INC. | 685,409 | 838,236 | $29.89 | $27.89 | $20,487,000 | $23,378,000 | |
| -10.94% | 51.51% | -127,200 | COMMSCOPE INC. | 1,035,962 | 1,163,162 | $52.77 | $34.83 | $54,668,000 | $40,513,000 | |
| -0.73% | -6.52% | -14,675 | COUSINS PROPERTIES INC | 2,007,221 | 2,021,896 | $23.10 | $24.71 | $46,367,000 | $49,961,000 | |
| -5.23% | 16.49% | -243,145 | CROSS COUNTRY HEALTHCARE INC. | 4,408,560 | 4,651,705 | $14.41 | $12.37 | $63,527,000 | $57,542,000 | |
| -13.10% | -3.93% | -138,191 | DELTIC TIMBER CORP. | 916,999 | 1,055,190 | $53.51 | $55.70 | $49,069,000 | $58,774,000 | |
| -1.94% | -7.66% | -20,600 | EASTGROUP PROPERTIES INC. | 1,039,571 | 1,060,171 | $42.90 | $46.46 | $44,598,000 | $49,256,000 | |
| -15.06% | 20.04% | -270,000 | ENCANA CORPORATION | 1,522,850 | 1,792,850 | $90.93 | $75.75 | $138,473,000 | $135,808,000 | |
| -94.02% | 83.16% | -2,689,822 | FORDING CANADIAN COAL TRUST | 171,019 | 2,860,841 | $95.61 | $52.20 | $16,351,000 | $149,336,000 | |
| -0.77% | -10.53% | -200 | FOREST CITY ENTERPRISES INC. CL | 25,800 | 26,000 | $32.21 | $36.00 | $831,000 | $936,000 | |
| -6.64% | -1.10% | -45,000 | GENESEE & WYOMING INC. | 632,911 | 677,911 | $34.02 | $34.40 | $21,532,000 | $23,320,000 | |
| -7.61% | -10.59% | -399,280 | GLATFELTER P. H. CO. | 4,847,090 | 5,246,370 | $13.51 | $15.11 | $65,484,000 | $79,273,000 | |
| -80.95% | 22.91% | -346,358 | GREENLIGHT CAPITAL RE LTD. CL A | 81,490 | 427,848 | $22.86 | $18.60 | $1,863,000 | $7,958,000 | |
| -0.53% | 68.24% | -22,000 | HANDLEMAN COMPANY | 4,146,672 | 4,168,672 | $1.80 | $1.07 | $7,464,000 | $4,460,000 | |
| -6.16% | -5.64% | -303,053 | HAVERTY FURNITURE COMPANIES INC | 4,615,918 | 4,918,971 | $10.04 | $10.64 | $46,344,000 | $52,338,000 | |
| -6.73% | 28.43% | -192,500 | HERLEY INDUSTRIES, INC. | 2,666,093 | 2,858,593 | $13.28 | $10.34 | $35,406,000 | $29,558,000 | |
| -7.07% | -56.07% | -228,900 | IDT CORPORATION CL B | 3,008,100 | 3,237,000 | $1.70 | $3.87 | $5,114,000 | $12,527,000 | |
| -45.17% | 57.44% | -803,104 | INSTEEL INDUSTRIES INC. | 974,981 | 1,778,085 | $18.31 | $11.63 | $17,852,000 | $20,679,000 | |
| -37.98% | -20.75% | -791,006 | JAKKS PACIFIC, INC. | 1,291,658 | 2,082,664 | $21.85 | $27.57 | $28,223,000 | $57,419,000 | |
| -3.30% | -34.69% | -153,785 | JOURNAL COMMUNICATIONS INC. CL | 4,508,649 | 4,662,434 | $4.82 | $7.38 | $21,732,000 | $34,409,000 | |
| -14.07% | 0.45% | -185,002 | KEARNY FINANCIAL CORP. | 1,129,936 | 1,314,938 | $11.00 | $10.95 | $12,429,000 | $14,399,000 | |
| -38.53% | 18.01% | -1,562,087 | LEAPFROG ENTERPRISES INC. | 2,491,971 | 4,054,058 | $8.32 | $7.05 | $20,733,000 | $28,581,000 | |
| -12.42% | 3.80% | -100,300 | LEUCADIA NATIONAL CORPORATION | 707,437 | 807,737 | $46.94 | $45.22 | $33,207,000 | $36,526,000 | |
| -3.21% | -7.52% | -246,688 | LOUISIANA PACIFIC CORP. | 7,428,828 | 7,675,516 | $8.49 | $9.18 | $63,071,000 | $70,461,000 | |
| -65.27% | -10.19% | -238,250 | MVC CAPITAL INC. | 126,750 | 365,000 | $13.69 | $15.24 | $1,735,000 | $5,563,000 | |
| -11.55% | 1.79% | -1,060,550 | NEWALLIANCE BANCSHARES, INC. | 8,123,155 | 9,183,705 | $12.48 | $12.26 | $101,377,000 | $112,592,000 | |
| -0.28% | 15.14% | -4,200 | NEWMONT MNG CORP | 1,506,576 | 1,510,776 | $52.16 | $45.30 | $78,583,000 | $68,438,000 | |