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
Aegean Marine Petroleum Inc COM Y0017S102 18,666 1,849,964 SH   SOLE   1,849,964 0 0
Air Transport Services Group I COM 00922R105 16,222 1,938,115 SH   SOLE   1,938,115 0 0
Ameriserv Financial Inc COM 03074A102 2,238 643,132 SH   SOLE   643,132 0 0
ArcBest Corporation COM 03937c105 7,894 181,441 SH   SOLE   181,441 0 0
Argo Group Intl Holdings Ltd COM g0464b107 15,532 303,897 SH   SOLE   303,897 0 0
Atlas Air Worldwide Holdings I COM 049164205 27,211 738,421 SH   SOLE   738,421 0 0
CNA Financial Corp COM 126117100 15,636 386,830 SH   SOLE   386,830 0 0
Cal Dive International Inc COM 12802T101 7,584 5,745,221 SH   SOLE   5,745,221 0 0
Chiquita Brands Intl Inc COM 170032809 15,594 1,437,280 SH   SOLE   1,437,280 0 0
Cloud Peak Energy Inc COM 18911Q102 14,965 812,445 SH   SOLE   812,445 0 0
Commercial Vehicle Group Inc COM 202608105 4,206 418,963 SH   SOLE   418,963 0 0
Flextronics International Ltd COM Y2573F102 22,908 2,069,337 SH   SOLE   2,069,337 0 0
General Cable Corporation COM 369300108 21,957 855,688 SH   SOLE   855,688 0 0
Goodyear Tire & Rubber Co COM 382550101 28,955 1,042,308 SH   SOLE   1,042,308 0 0
Hawaiian Holdings Inc COM 419879101 29,497 2,151,509 SH   SOLE   2,151,509 0 0
Ingram Micro Inc COM 457153104 18,157 621,612 SH   SOLE   621,612 0 0
Meritor Inc COM 59001K100 24,322 1,865,216 SH   SOLE   1,865,216 0 0
Navistar Intl Corp COM 63934E108 12,678 338,259 SH   SOLE   338,259 0 0
PBF Energy Inc COM 69318G106 14,291 536,231 SH   SOLE   536,231 0 0
PHH Corporation COM 693320202 14,673 638,509 SH   SOLE   638,509 0 0
Peabody Energy Corporation COM 704549104 17,626 1,078,055 SH   SOLE   1,078,055 0 0
Renewable Energy Group Inc COM 75972a301 15,683 1,367,318 SH   SOLE   1,367,318 0 0
SUPERVALU INC COM 868536103 11,551 1,405,197 SH   SOLE   1,405,197 0 0
Sanmina Corporation COM 801056102 22,515 988,372 SH   SOLE   988,372 0 0
Star Bulk Carriers Corp COM Y8162K121 3,939 303,702 SH   SOLE   303,702 0 0
Steel Dynamics Inc COM 858119100 7,572 421,818 SH   SOLE   421,818 0 0
Swift Energy Co COM 870738101 17,587 1,354,943 SH   SOLE   1,354,943 0 0
Tesoro Corporation COM 881609101 23,503 400,589 SH   SOLE   400,589 0 0
The Hanover Insurance Group In COM 410867105 12,079 191,281 SH   SOLE   191,281 0 0
Titan Machinery Inc COM 88830R101 19,702 1,196,965 SH   SOLE   1,196,965 0 0
Unisys Corporation COM 909214306 18,638 753,359 SH   SOLE   753,359 0 0
Valero Energy Corp COM 91913y100 22,669 452,477 SH   SOLE   452,477 0 0
Virco Mfg Corp COM 927651109 687 296,153 SH   SOLE   296,153 0 0