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 18,095 1,835,194 SH   SOLE   1,835,194 0 0
Air Transport Services Group I COM 00922R105 15,027 1,914,225 SH   SOLE   1,914,225 0 0
Ameriserv Financial Inc COM 03074A102 2,623 681,190 SH   SOLE   681,190 0 0
Argo Group Intl Holdings Ltd COM G0464B107 13,779 300,527 SH   SOLE   300,527 0 0
Arkansas Best Corp COM 040790107 16,297 441,061 SH   SOLE   441,061 0 0
Atlas Air Worldwide Holdings I COM 049164205 25,765 730,521 SH   SOLE   730,521 0 0
CNA Financial Corp COM 126117100 16,343 382,560 SH   SOLE   382,560 0 0
Cal Dive International Inc COM 12802T101 9,648 5,675,561 SH   SOLE   5,675,561 0 0
Chiquita Brands Intl Inc COM 170032809 17,729 1,424,020 SH   SOLE   1,424,020 0 0
Cloud Peak Energy Inc COM 18911Q102 16,938 801,225 SH   SOLE   801,225 0 0
Commercial Vehicle Group Inc COM 202608105 12,196 1,337,283 SH   SOLE   1,337,283 0 0
Flextronics International Ltd COM Y2573F102 18,921 2,047,757 SH   SOLE   2,047,757 0 0
General Cable Corporation COM 369300108 18,458 720,728 SH   SOLE   720,728 0 0
Goodyear Tire & Rubber Co COM 382550101 27,021 1,034,088 SH   SOLE   1,034,088 0 0
Hawaiian Holdings Inc COM 419879101 29,654 2,124,219 SH   SOLE   2,124,219 0 0
Ingram Micro Inc COM 457153104 18,231 616,732 SH   SOLE   616,732 0 0
Jones Group Inc COM 48020t101 9,666 645,724 SH   SOLE   645,724 0 0
Meritor Inc COM 59001K100 22,591 1,844,136 SH   SOLE   1,844,136 0 0
Navistar Intl Corp COM 63934E108 11,351 335,139 SH   SOLE   335,139 0 0
PBF Energy Inc COM 69318G106 13,649 529,041 SH   SOLE   529,041 0 0
PHH Corporation COM 693320202 16,311 631,219 SH   SOLE   631,219 0 0
Peabody Energy Corporation COM 704549104 17,415 1,065,795 SH   SOLE   1,065,795 0 0
Renewable Energy Group Inc COM 75972a301 9,847 821,243 SH   SOLE   821,243 0 0
SUPERVALU INC COM 868536103 9,502 1,389,117 SH   SOLE   1,389,117 0 0
Sanmina Corporation COM 801056102 17,094 979,582 SH   SOLE   979,582 0 0
Star Bulk Carriers Corp COM Y8162K121 4,322 302,893 SH   SOLE   302,893 0 0
Steel Dynamics Inc COM 858119100 7,448 418,678 SH   SOLE   418,678 0 0
Swift Energy Co COM 870738101 16,717 1,553,653 SH   SOLE   1,553,653 0 0
Tesoro Corporation COM 881609101 20,134 397,979 SH   SOLE   397,979 0 0
The Hanover Insurance Group In COM 410867105 11,656 189,711 SH   SOLE   189,711 0 0
Titan Machinery Inc COM 88830R101 15,968 1,019,015 SH   SOLE   1,019,015 0 0
Unisys Corporation COM 909214306 22,773 747,639 SH   SOLE   747,639 0 0
Valero Energy Corp COM 91913y100 23,800 448,217 SH   SOLE   448,217 0 0
Virco Mfg Corp COM 927651109 821 332,248 SH   SOLE   332,248 0 0