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
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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
AT&T Inc. Com 00206R102 565 16,035 SH   SOLE   0 0 16,035
Agnico-Eagle Mines Ltd. Com 008474108 517 17,800 SH   SOLE   0 0 17,800
Allegheny Technologies Inc. Com 01741r102 15,863 427,562 SH   SOLE   0 0 427,562
Anadarko Petroleum Corp. Com 032511107 463 4,567 SH   SOLE   0 0 4,567
Apple Computer Inc. Com 037833100 910 9,033 SH   SOLE   0 0 9,033
Arrow Electronics Inc. Com 042735100 8,560 154,649 SH   SOLE   0 0 154,649
Associated Banc Corp. Com 045487105 242 13,867 SH   SOLE   0 0 13,867
Baker Hughes Inc. Com 057224107 18,695 287,349 SH   SOLE   0 0 287,349
Bank of America Com 060505104 23,663 1,387,870 SH   SOLE   0 0 1,387,870
Berkley W R Corp. Com 084423102 1,528 31,968 SH   SOLE   0 0 31,968
Biogen Idec Inc. Com 09062X103 230 696 SH   SOLE   0 0 696
Boulder Brands Inc. Com 101405108 300 22,000 SH   SOLE   0 0 22,000
Briggs & Stratton Corp. Com 109043109 9,984 554,075 SH   SOLE   0 0 554,075
Capstone Turbine Corp. Com 14067D102 209 195,008 SH   SOLE   0 0 195,008
Carnival Corp Com 143658300 13,592 338,350 SH   SOLE   0 0 338,350
Chataqua Partners LLC Com 1428198 1,763 1,763,074 SH   SOLE   0 0 1,763,074
Cisco Systems Com 17275r102 22,803 905,949 SH   SOLE   0 0 905,949
Citigroup Inc. Com 172967424 23,168 447,079 SH   SOLE   0 0 447,079
Coastal South Bankshares Com 190545103 18 11,850 SH   SOLE   0 0 11,850
Colgate-Palmolive Co. Com 194162103 287 4,400 SH   SOLE   0 0 4,400
Cumulus Media Inc. Com 231082108 42 10,450 SH   SOLE   0 0 10,450
Eaton Corp. Com 278058102 317 5,000 SH   SOLE   0 0 5,000
Eli Lilly & Co. Com 532457108 363 5,600 SH   SOLE   0 0 5,600
Emerson Electric Co. Com 291011104 313 5,000 SH   SOLE   0 0 5,000
Exxon Mobil Corp. Com 30231g102 2,109 22,426 SH   SOLE   0 0 22,426
Facebook, Inc. Com 30303M102 321 4,060 SH   SOLE   0 0 4,060
Fastenal Company Com 311900104 575 12,800 SH   SOLE   0 0 12,800
Finish Line Com 317923100 9,972 398,400 SH   SOLE   0 0 398,400
Fiserv Inc. Com 337738108 737 11,400 SH   SOLE   0 0 11,400
Forest Oil Corp. Com 346091705 35 30,000 SH   SOLE   0 0 30,000
General Electric Co. Com 369604103 19,633 766,327 SH   SOLE   0 0 766,327
General Motors Corp. Com 37045v100 19,342 605,586 SH   SOLE   0 0 605,586
Geron Corp. Com 374163103 40 20,000 SH   SOLE   0 0 20,000
GoldenTree Offshore Cl C Exemp Com 2071622 621 203 SH   SOLE   0 0 203
Goldentree Offshore C 5 F Com 2071621 582 409 SH   SOLE   0 0 409
Goodrich Pete Corp. Com 382410405 207 14,000 SH   SOLE   0 0 14,000
Halliburton Co. Com 406216101 206 3,200 SH   SOLE   0 0 3,200
Holly Frontier Corp. Com 436106108 210 4,800 SH   SOLE   0 0 4,800
IBM Com 459200101 778 4,100 SH   SOLE   0 0 4,100
Interpublic Group Companies Com 460690100 10,708 584,479 SH   SOLE   0 0 584,479
J P Morgan Chase Com 46625H100 23,381 388,124 SH   SOLE   0 0 388,124
Johnson & Johnson Com 478160104 936 8,784 SH   SOLE   0 0 8,784
Johnson Controls Inc. Com 478366107 19,899 452,245 SH   SOLE   0 0 452,245
Journal Comm. CL'A Com 481130102 109 12,988 SH   SOLE   0 0 12,988
Kimberly-Clark Corporation Com 494368103 262 2,440 SH   SOLE   0 0 2,440
Kohls Corp. Com 500255104 230 3,770 SH   SOLE   0 0 3,770
Ladenburg Thalmann Com 50575q102 732 172,747 SH   SOLE   0 0 172,747
MGIC Investment Corp. Com 552848103 2,186 279,945 SH   SOLE   0 0 279,945
McDonalds Corp. Com 580135101 689 7,272 SH   SOLE   0 0 7,272
Merck & Company Com 58933y105 328 5,525 SH   SOLE   0 0 5,525
Metlife Inc. Com 59156R108 22,652 421,676 SH   SOLE   0 0 421,676
Modine Manufacturing Co. Com 607828100 10,188 858,325 SH   SOLE   0 0 858,325
Options Media Group Com 684008105 0 20,000 SH   SOLE   0 0 20,000
Orion Energy System Inc. Com 686275108 107 20,040 SH   SOLE   0 0 20,040
Owens-Illinois Inc. Com 690768403 18,556 712,312 SH   SOLE   0 0 712,312
Pentair Ltd. Com 709631105 284 4,340 SH   SOLE   0 0 4,340
Pepsico Inc. Com 713448108 623 6,690 SH   SOLE   0 0 6,690
Pfizer Inc. Com 717081103 731 24,729 SH   SOLE   0 0 24,729
Procter & Gamble Co. Com 742718109 382 4,566 SH   SOLE   0 0 4,566
Proshares Tr Pshs Shrt S&P 500 Com 74347r503 647 28,100 SH   SOLE   0 0 28,100
Protide Pharmaceutical Com 74371a103 1 10,000 SH   SOLE   0 0 10,000
Schlumberger Ltd. Com 806857108 646 6,352 SH   SOLE   0 0 6,352
Sigma Aldrich Corp. Com 826552101 245 1,800 SH   SOLE   0 0 1,800
Sirius XM Radio Inc. Com 82967N108 2,311 662,183 SH   SOLE   0 0 662,183
Southwestern Energy Co. Com 845467109 10,560 302,150 SH   SOLE   0 0 302,150
Target Corp. Com 87612e106 13,978 223,000 SH   SOLE   0 0 223,000
Transocean Ltd. Com h8817h100 209 6,529 SH   SOLE   0 0 6,529
US Bancorp Com 902973304 6,239 149,148 SH   SOLE   0 0 149,148
Union Pacific Corp. Com 907818108 2,168 20,000 SH   SOLE   0 0 20,000
Verizon Communications Com 92343v104 280 5,593 SH   SOLE   0 0 5,593
Wal Mart Stores Inc. Com 931142103 276 3,609 SH   SOLE   0 0 3,609
Walgreen Co. Com 931422109 646 10,900 SH   SOLE   0 0 10,900
Weatherford Intl. Inc. Com G48833100 23,424 1,126,150 SH   SOLE   0 0 1,126,150
Wells Fargo & Co. Com 949746101 3,310 63,810 SH   SOLE   0 0 63,810