-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KlndJlL/PTPmeWA0LMvvrjig8tunnMA5Rwnm+B9bHxzUoqcRw/8XaFIsyikMYMVA n8F6uqzWwkhk9gFz4zUxVg== 0000902584-08-000186.txt : 20080826 0000902584-08-000186.hdr.sgml : 20080826 20080826123503 ACCESSION NUMBER: 0000902584-08-000186 CONFORMED SUBMISSION TYPE: 13F-HR/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080630 FILED AS OF DATE: 20080826 DATE AS OF CHANGE: 20080826 EFFECTIVENESS DATE: 20080826 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVISORY RESEARCH INC CENTRAL INDEX KEY: 0000902584 IRS NUMBER: 132831881 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR/A SEC ACT: 1934 Act SEC FILE NUMBER: 028-05637 FILM NUMBER: 081038584 BUSINESS ADDRESS: STREET 1: 180 N. STETSON STREET STREET 2: STE 5500 CITY: CHICAGO STATE: IL ZIP: 60601 BUSINESS PHONE: 3125651414 MAIL ADDRESS: STREET 1: 180 N. STETSON STREET STREET 2: SUITE 5780 CITY: CHICAGO STATE: IL ZIP: 60601 13F-HR/A 1 ari2q08hra.txt 13F-HR/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Quarter Ended: June 30, 2008 Check here if Amendment: [X] # 1 This Amendment [X] is a restatement. [ ] adds new holdings entries Institutional Investment Manager Filing this Report: Name: Advisory Research, Inc. Address: 180 North Stetson, Suite 5500 Chicago, IL 60601 13F File Number: 028-05637 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person signing this report on behalf of the Reporting Manager: Name: Brien M. O'Brien Title: Chairman & CEO Phone: 312-565-1414 Signature, Place and Date of Signing: /s/ Brien M. O'Brien, Chairman & CEO August 26, 2008 - ------------------------------- ----------------------- Signature / Title Date Report Type: [X] 13F HOLDINGS REPORT. Securities with an aggregate market value of $200,000 and above are reported in this report. [ ] 13F NOTICE [ ] 13F COMBINATION REPORT FORM 13F SUMMARY PAGE ADVISORY RESEARCH INC. Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 311 Form 13F Information Table Total Value ('000): 4939863 List of Other Managers: NONE UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F FORM 13F HOLDINGS REPORT Report for the Quarter Ended: June 30, 2008 ADVISORY RESEARCH, INC. FORM 13F INFOMRATION TABLE NAME OF ISSUER TITLE CUSIP VALUE SH/P PUT/INV OTRVOT AUTH OF CL AMT ('000) CALLDSC MGR SOLE SHARE NONE 3M COMPANY COM 88579Y101 617 8870 SOLE 8870 A T & T INC COM 00206R102 21850 648561 SOLE 648561 ADVANCED MICRO COM 007903107 124 21220 SOLE 21220 ALASKA PAC BANC COM 011757101 636 35163 SOLE 35163 ALBANY MOLECULAR COM 012423109 44300 3338343 SOLE 3338343 ALLIED WASTE INDS COM 019589308 136 10760 SOLE 10760 AMBAC FINL GROUP COM 023139108 63 46904 SOLE 46904 AMERICAN EXPRESS COM 025816109 419 11116 SOLE 11116 AMERICAN INTL GRO COM 026874107 17168 648811 SOLE 648811 AMERICAN ITALIAN COM 027070101 4670 411800 SOLE 411800 AMERICAN PHYSICIA COM 028882108 2228 101250 SOLE 101250 AMERICAN RAILCAR COM 02916P103 32359 1928428 SOLE 1928428 AMERIGAS PARTNERS COM 030975106 567 17800 SOLE 17800 AMERIPRISE FINANC COM 03076C106 66622 1638100 SOLE 1638100 AMERIPRISE FINANC COM 03076C106 617 15665 OTHER 15665 ANALOGIC CORP COM 032657207 43981 697336 SOLE 697336 ANDERSONS INC COM 034164103 62727 1540836 SOLE 1540836 ANHEUSER BUSCH COM 035229103 450 7243 SOLE 7243 APACHE CORP COM 037411105 6475 46582 SOLE 46582 APARTMENT INVT COM 03748R101 542 15900 SOLE 15900 APPLE INC COM 037833100 641 3826 SOLE 3826 AQUILA INC COM 03840P102 117847 31259095 SOLE 31259095 AQUILA INC COM 03840P102 587 159935 OTHER 159935 ARES CAP CORP COM 04010L103 990 98200 SOLE 98200 ASHLAND INC COM 044209104 78804 1634928 SOLE 1634928 ASHLAND INC COM 044209104 601 12830 OTHER 12830 ASSISTED LIVING COM 04544X102 35187 6397600 SOLE 6397600 ASSISTED LIVING COM 04544X102 331 61920 OTHER 61920 ATLANTIC AMERN CO COM 048209100 377 233938 SOLE 233938 ATLAS AMER INC COM 049167109 13177 292500 SOLE 292500 ATLAS ENERGY RES COM 049303100 954 25000 SOLE 25000 AVALON HLDGS CORP COM 05343P109 1627 375703 SOLE 375703 AVATAR HOLDINGS COM 053494100 29053 959175 SOLE 959175 BARNWELL INDS INC COM 068221100 5250 395944 SOLE 395944 BERKSHIRE HATHAWA COM 084670108 604 5 SOLE 5 BERKSHIRE HATHAWA COM 084670207 10969 2734 SOLE 2734 BEXIL CORP COM 088577101 2514 88200 SOLE 88200 BOB EVANS FARMS COM 096761101 62483 2184705 SOLE 2184705 BOSS HLDGS INC COM 10011B101 989 138150 SOLE 138150 BOSTON SCIENTIFIC COM 101137107 134 10865 SOLE 10865 BOSWELL J G CO COM 101205102 1656 1781 SOLE 1781 BOYD GAMING CORP COM 103304101 17565 1398481 SOLE 1398481 BOYD GAMING CORP COM 103304101 183 15570 OTHER 15570 BP AMOCO P L C COM 055622104 348 5000 SOLE 5000 BRUNSWICK CORP COM 117043109 113 10665 SOLE 10665 BURLINGTON NORTHN COM 12189T104 17733 177528 SOLE 177528 CAGLES INC CL A COM 127703106 1662 316649 SOLE 316649 CAPITAL LEASE FDG COM 140288101 1402 187200 SOLE 187200 CAPITAL TRUST INC COM 14052H506 358 18643 SOLE 18643 CAPITOL FEDERAL COM 14057C106 104615 2781574 SOLE 2781574 CAPITOL FEDERAL COM 14057C106 615 16755 OTHER 16755 CARRIZO OIL & GAS COM 144577103 14349 210736 SOLE 210736 CBS CORP CL B COM 124857202 9452 484952 SOLE 484952 CENTERPOINT ENERG COM 15189T107 155847 9710107 SOLE 9710107 CENTERPOINT ENERG COM 15189T107 726 46340 OTHER 46340 CHESAPEAKE ENERGY COM 165167107 15510 235147 SOLE 235147 CHEVIOT FINL CORP COM 166774109 1841 227005 SOLE 227005 CHEVRONTEXACO COM 166764100 30514 307816 SOLE 307816 CHICAGO RIVET COM 168088102 1421 69300 SOLE 69300 CIT GROUP INC COM 125581108 104 15325 SOLE 15325 CITIZENS COMMUNIC COM 17453B101 1665 146798 SOLE 146798 CITIZENS FIRST COM 17461R106 405 67572 SOLE 67572 CME GROUP INC COM 12572Q105 477 1244 SOLE 1244 CNX GAS CORP COM 12618H309 196174 4666356 SOLE 4666356 CNX GAS CORP COM 12618H309 781 19020 OTHER 19020 COACHMEN INDS INC COM 189873102 1953 921093 SOLE 921093 COAST DISTRIBUTIO COM 190345108 700 229580 SOLE 229580 COMCAST CORP CL A COM 20030N101 13296 700897 SOLE 700897 COMMUNICATIONS COM 203900105 3287 299304 SOLE 299304 COMPUWARE CORP COM 205638109 136 14293 SOLE 14293 COMSTOCK RESOURCE COM 205768203 174571 2067640 SOLE 2067640 COMSTOCK RESOURCE COM 205768203 935 11210 OTHER 11210 CONOCOPHILLIPS COM 20825C104 30770 325990 SOLE 325990 CONSOLIDATED COMM COM 209034107 1546 103800 SOLE 103800 CONSTELLATION ENE COM 210371100 21668 263926 SOLE 263926 CONTANGO OIL & GA COM 21075N204 40348 434218 SOLE 434218 COUNTRYWIDE CR COM 222372104 115 27090 SOLE 27090 COWEN GROUP INC COM 223621103 1741 225459 SOLE 225459 D R HORTON INC COM 23331A109 123 11376 SOLE 11376 DELTIC TIMBER COM 247850100 70610 1319563 SOLE 1319563 DENBURY RESOURCES COM 247916208 37263 1020899 SOLE 1020899 DEVON ENERGY CORP COM 25179M103 330 2749 SOLE 2749 DISCOVERY HOLDING COM 25468Y107 50234 2287507 SOLE 2287507 DISCOVERY HOLDING COM 25468Y107 482 22545 OTHER 22545 DOUBLE EAGLE PETE COM 258570209 5383 295261 SOLE 295261 DUKE ENERGY CORP COM 26441C105 192 11043 SOLE 11043 DYNEGY INC CL A COM 26817G102 131 15337 SOLE 15337 E TRADE FINANCIAL COM 269246104 113 36143 SOLE 36143 EAST WEST BANCORP COM 27579R104 20478 2900610 SOLE 2900610 EASTERN INS HLDGS COM 276534104 1866 119600 SOLE 119600 EDISON INTL COM 281020107 1954 38029 SOLE 38029 ELBIT MEDICAL COM M37605108 2733 65083 SOLE 65083 EMBARQ CORP COM 29078E105 84279 1782937 SOLE 1782937 EMBARQ CORP COM 29078E105 644 14020 OTHER 14020 EMERSON ELEC CO COM 291011104 296 5985 SOLE 5985 ENCORE ACQUISITIO COM 29255W100 10184 135450 SOLE 135450 ENCORE WIRE CORP COM 292562105 38797 1830907 SOLE 1830907 ENCORE WIRE CORP COM 292562105 492 23725 OTHER 23725 EQUITY RESIDENTIA COM 29476L107 573 14983 SOLE 14983 ESPEY MFG & ELECT COM 296650104 4171 219640 SOLE 219640 EXELON CORP COM 30161N101 23444 260608 SOLE 260608 EXXON MOBIL CORP COM 30231G102 28797 326757 SOLE 326757 FAIRPOINT COMMUNI COM 305560104 33238 4610043 SOLE 4610043 FIRST FED NORTHN COM 32021X105 440 73461 SOLE 73461 FIRST HORIZON NAT COM 320517105 111 14988 SOLE 14988 FIRST PACTRUST COM 33589V101 1067 82730 SOLE 82730 FIRSTCITY FINANCI COM 33761X107 537 120397 SOLE 120397 FISHER COMMUNICAT COM 337756209 4717 136968 SOLE 136968 FORD MTR CO COM 345370860 103 21342 SOLE 21342 FORTUNE BRANDS COM 349631101 21717 347979 SOLE 347979 FPL GROUP INC COM 302571104 433 6608 SOLE 6608 FROZEN FOOD EXPRE COM 359360104 1530 226735 SOLE 226735 GENERAL ELECTRIC COM 369604103 21602 809382 SOLE 809382 GENERAL MLS INC COM 370334104 352 5790 SOLE 5790 GREENE CNTY BANC COM 394357107 650 47626 SOLE 47626 GRIFFIN LD & NURS COM 398231100 2501 81450 SOLE 81450 HALLWOOD GROUP COM 406364406 15297 227804 SOLE 227804 HARDINGE BROS INC COM 412324303 216 16424 SOLE 16424 HEALTHCARE SERVIC COM 421906108 40887 2686414 SOLE 2686414 HEWLETT PACKARD COM 428236103 20026 452964 SOLE 452964 HF FINL CORP COM 404172108 1558 95608 SOLE 95608 HOME FEDERAL BANC COM 43710G105 9159 928947 SOLE 928947 HUDSON CITY BANC COM 443683107 73427 4402097 SOLE 4402097 HUDSON CITY BANC COM 443683107 695 42550 OTHER 42550 HUGOTON RTY TR COM 444717102 929 25100 SOLE 25100 HUNTINGTON BANCSH COM 446150104 93 16158 SOLE 16158 I B M COM 459200101 428 3611 SOLE 3611 ILLINOIS TOOL WKS COM 452308109 21669 456083 SOLE 456083 IMPERIAL OIL LTD COM 453038408 6306 114500 SOLE 114500 INTERCONTINENTAL COM 45865V100 436 3826 SOLE 3826 INTERPUBLIC GROUP COM 460690100 125 14505 SOLE 14505 INVESTORS BANCORP COM 46146P102 119045 9115200 SOLE 9115200 INVESTORS BANCORP COM 46146P102 556 43720 OTHER 43720 IOWA TELECOMMUNIC COM 462594201 1490 84600 SOLE 84600 ISHARES TR MSCI COM 464287465 2228 32444 SOLE 32444 J ALEXANDER CORP COM 466096104 3771 538673 SOLE 538673 J.P. MORGAN CHASE COM 46625H100 22963 669281 SOLE 669281 JABIL CIRCUIT INC COM 466313103 189 11521 SOLE 11521 JDS UNIPHASE CORP COM 46612J507 135 11853 SOLE 11853 JEFFERIES GROUP COM 472319102 105814 6290940 SOLE 6290940 JEFFERIES GROUP COM 472319102 491 29940 OTHER 29940 JOHNSON & JOHNSON COM 478160104 27242 423401 SOLE 423401 KB HOME COM 48666K109 187 11053 SOLE 11053 KEARNY FINL CORP COM 487169104 885 80449 SOLE 80449 KING PHARMACEUTIC COM 495582108 149 14195 SOLE 14195 LANDAMERICA FINL COM 514936103 27610 1244257 SOLE 1244257 LANDAMERICA FINL COM 514936103 255 12175 OTHER 12175 LAUDER ESTEE COS COM 518439104 606 13047 SOLE 13047 LEHMAN BROTHERS COM 524908100 4764 240470 SOLE 240470 LEUCADIA NATIONAL COM 527288104 210787 4490558 SOLE 4490558 LEUCADIA NATIONAL COM 527288104 1007 21955 OTHER 21955 LIBERTY MEDIA COR COM 53071M500 23786 981679 SOLE 981679 LIMONEIRA CO COM 532746104 2889 10505 SOLE 10505 LINCOLN BANCORP COM 532879103 1188 106986 SOLE 106986 LONGS DRUG STORES COM 543162101 151505 3597839 SOLE 3597839 LONGS DRUG STORES COM 543162101 602 14720 OTHER 14720 LOUISIANA PAC COR COM 546347105 28926 3407024 SOLE 3407024 LOUISIANA PAC COR COM 546347105 272 33170 OTHER 33170 LSB CORP COM 50215P100 747 49000 SOLE 49000 LSI LOGIC CORP COM 502161102 123 20046 SOLE 20046 MARCUS CORP COM 566330106 35155 2351486 SOLE 2351486 MARQUETTE NATL CO COM 571599109 363 500 SOLE 500 MAUI LD & PINEAPP COM 577345101 8383 284660 SOLE 284660 MBIA INC COM 55262C100 91 20705 SOLE 20705 MCRAE INDS INC COM 582757209 2343 130161 SOLE 130161 MERCK & CO INC COM 589331107 27745 736148 SOLE 736148 MERRILL LYNCH COM 590188108 12895 406650 SOLE 406650 METLIFE INC COM 59156R108 17670 334841 SOLE 334841 MGIC INVESTMENT COM 552848103 73 12008 SOLE 12008 MICRON TECHNOLOGY COM 595112103 108 18027 SOLE 18027 MICROSOFT CORP COM 594918104 21921 796845 SOLE 796845 MORGANS HOTEL GRP COM 61748W108 26603 2582800 SOLE 2582800 MOTORCAR PTS COM 620071100 2372 314173 SOLE 314173 MOTOROLA INC COM 620076109 113 15432 SOLE 15432 MYLAN LABS INC COM 628530107 131 10816 SOLE 10816 NASDAQ STOCK MARK COM 631103108 214 8074 SOLE 8074 NATIONAL CITY COM 635405103 119 25032 SOLE 25032 NATIONAL PATENT COM 637132101 991 450546 SOLE 450546 NEW ULM TELECOM COM 649060100 1494 143640 SOLE 143640 NORTHERN TR CORP COM 665859104 904 13177 SOLE 13177 NOVELL INC COM 670006105 122 20705 SOLE 20705 NYSE EURONEXT COM 629491101 573 11305 SOLE 11305 OFFICE DEPOT INC COM 676220106 124 11367 SOLE 11367 OLD REPUBLIC INTL COM 680223104 92301 7795723 SOLE 7795723 OLD REPUBLIC INTL COM 680223104 475 41383 OTHER 41383 ONEBEACON INSUR COM G67742109 52582 2992699 SOLE 2992699 ONEOK INC COM 682680103 39283 804475 SOLE 804475 ONEOK INC COM 682680103 390 8205 OTHER 8205 ORACLE SYS CORP COM 68389X105 348 16595 SOLE 16595 OVERSEAS SHIPHOLD COM 690368105 138864 1746275 SOLE 1746275 OVERSEAS SHIPHOLD COM 690368105 688 8850 OTHER 8850 PACIFIC PREMIER COM 69478X105 323 62778 SOLE 62778 PANHANDLE OIL COM 698477106 8250 243660 SOLE 243660 PARK BANCORP INC COM 700164106 686 36098 SOLE 36098 PATHFINDER BANCOR COM 70320A103 124 16903 SOLE 16903 PEABODY ENERGY CO COM 704549104 378 4291 SOLE 4291 PENNEY J C INC COM 708160106 4593 126571 SOLE 126571 PENNEY J C INC COM 708160106 362 10340 OTHER 10340 PEP BOYS MANNY MO COM 713278109 41081 4711175 SOLE 4711175 PINNACLE GAS RES COM 723464301 2070 575000 SOLE 575000 PIONEER NATURAL COM 723787107 98988 1264532 SOLE 1264532 PIONEER NATURAL COM 723787107 597 7760 OTHER 7760 PIPER JAFFRAY COM 724078100 42957 1464595 SOLE 1464595 PLAINS ALL AMERN COM 726503105 56037 1242224 SOLE 1242224 PLAINS EXPLORATIO COM 726505100 181302 2484615 SOLE 2484615 PLAINS EXPLORATIO COM 726505100 866 12085 OTHER 12085 PLUM CREEK TIMBER COM 729251108 80859 1893215 SOLE 1893215 PLUM CREEK TIMBER COM 729251108 766 18355 OTHER 18355 PNM RES INC COM 69349H107 1346 112500 SOLE 112500 PRICESMART INC COM 741511109 6417 324401 SOLE 324401 PROCTER & GAMBLE COM 742718109 559 9197 SOLE 9197 PROGRESS ENERGY COM 743263105 209 4991 SOLE 4991 PULTE CORP COM 745867101 114 11880 SOLE 11880 QUEST RESOURCE CO COM 748349305 31717 2779791 SOLE 2779791 QUICKSILVER RES COM 74837R104 122983 3182783 SOLE 3182783 QUICKSILVER RES COM 74837R104 683 18030 OTHER 18030 QWEST COMMUNICATI COM 749121109 118 29945 SOLE 29945 REGENCY AFFILIATE COM 758847305 457 114215 SOLE 114215 ROCK OF AGES CORP COM 772632105 754 226354 SOLE 226354 ROME BANCORP INC COM 77587P103 1849 165870 SOLE 165870 S & K FAMOUS BRAN COM 783774102 211 117004 SOLE 117004 SAN JUAN BASIN COM 798241105 851 18400 SOLE 18400 SANFILIPPO JOHN B COM 800422107 4226 486316 SOLE 486316 SARA LEE CORP COM 803111103 15699 1281558 SOLE 1281558 SCHEID VINEYARDS COM 806403200 2218 66210 SOLE 66210 SCHERING PLOUGH COM 806605101 1952 99150 SOLE 99150 SCHLUMBERGER COM 806857108 317 2955 SOLE 2955 SHENANDOAH TELECO COM 82312B106 6650 510791 SOLE 510791 SHERWIN WILLIAMS COM 824348106 242 5278 SOLE 5278 SHOE CARNIVAL INC COM 824889109 6023 510870 SOLE 510870 SL GREEN REALTY COM 78440X101 39464 477080 SOLE 477080 SL GREEN REALTY COM 78440X101 343 4274 OTHER 4274 SOUTHWEST AIRLS COM 844741108 145 11106 SOLE 11106 SOVEREIGN BANCORP COM 845905108 118 15997 SOLE 15997 SPDR TR UNIT COM 78462F103 493 3849 SOLE 3849 SPECTRA ENERGY CO COM 847560109 2384 82964 SOLE 82964 SPRINT NEXTEL COM 852061100 147 15432 SOLE 15432 STATE STR CORP COM 857477103 449 7013 SOLE 7013 STEWART INFORMATI COM 860372101 24992 1292220 SOLE 1292220 STIFEL FINANCIAL COM 860630102 709 20608 SOLE 20608 SUN MICROSYSTEMS COM 866810203 121 11149 SOLE 11149 SUNCOR ENERGY INC COM 867229106 3836 66000 SOLE 66000 SUPERIOR UNIFORM COM 868358102 3241 372084 SOLE 372084 SUPREME INDS INC COM 868607102 1699 348862 SOLE 348862 TANDY BRANDS ACCE COM 875378101 3879 703998 SOLE 703998 TECHE HLDG CO COM 878330109 608 16358 SOLE 16358 TELLABS INC COM 879664100 124 26741 SOLE 26741 TENET HEALTHCARE COM 88033G100 137 24649 SOLE 24649 TERADYNE INC COM 880770102 116 10487 SOLE 10487 TESSCO TECHNOLOG COM 872386107 1539 112493 SOLE 112493 TFS FINANCIAL COR COM 87240R107 42812 3693855 SOLE 3693855 TFS FINANCIAL COR COM 87240R107 421 37175 OTHER 37175 THIRD CENTY BANC COM 884120106 1340 153088 SOLE 153088 TRIARC COMPANIES COM 895927101 20729 3238927 SOLE 3238927 TRIARC COMPANIES COM 895927309 32507 5135340 SOLE 5135340 TRIARC COMPANIES COM 895927309 223 36350 OTHER 36350 TUESDAY MORNING COM 899035505 2522 613542 SOLE 613542 UMB FINANCIAL COM 902788108 157499 3071958 SOLE 3071958 UMB FINANCIAL COM 902788108 785 15615 OTHER 15615 UNISYS CORP COM 909214108 113 28700 SOLE 28700 UNITED FINANCIAL COM 91030T109 3334 298467 SOLE 298467 UNITED FIRE & CAS COM 910331107 39976 1484440 SOLE 1484440 UNITED STATES LIM COM 911922102 5873 148419 SOLE 148419 UNITED TECHNOLOG COM 913017109 18738 303688 SOLE 303688 UNIVERSAL SEC INS COM 913821302 731 138258 SOLE 138258 VAIL RESORTS INC COM 91879Q109 102618 2395928 SOLE 2395928 VAIL RESORTS INC COM 91879Q109 535 12860 OTHER 12860 VARIAN MED SYS COM 92220P105 677 13050 SOLE 13050 VIACOM INC CL B COM 92553P201 245 8029 SOLE 8029 VULCAN INTL CORP COM 929136109 3356 60738 SOLE 60738 WALGREEN COMPANY COM 931422109 14586 448671 SOLE 448671 WARWICK VALLEY COM 936750108 2870 271771 SOLE 271771 WASHINGTON MUT COM 939322103 79 16050 SOLE 16050 WELLS FARGO & CO COM 949746101 647 27242 SOLE 27242 WESTFIELD FINANC COM 96008P104 6910 763530 SOLE 763530 WEYERHAEUSER CO COM 962166104 19196 375361 SOLE 375361 WHITE MOUNTAINS COM G9618E107 79698 185776 SOLE 185776 WHITE MOUNTAINS COM G9618E107 618 1482 OTHER 1482 WILLIAMS COAL SEA COM 969450105 1518 139376 SOLE 139376 WINDSTREAM CORP COM 97381W104 1617 131032 SOLE 131032 WINN DIXIE STORES COM 974280307 100121 6249773 SOLE 6249773 WINN DIXIE STORES COM 974280307 337 21790 OTHER 21790 XEROX CORP COM 984121103 145 10665 SOLE 10665 XINYUAN REAL ESTA COM 98417P105 61 10000 SOLE 10000 ZIMMER HLDGS INC COM 98956P102 203 2986 SOLE 2986 ADVANTAGE ENERGY COM 00762L101 661 50273 SOLE 50273 COMPTON PETE CORP COM 204940100 3182 245700 SOLE 245700 HARVEST ENERGY TR COM 41752X101 632 25530 SOLE 25530 PENGROWTH ENERGY COM 706902509 672 32800 SOLE 32800 PENN WEST ENERGY COM 707885109 1079 31300 SOLE 31300 ISHARES TR DJ US COM 464287788 1621 23879 SOLE 23879 PROSHARES TR ULTR COM 74347R586 7345 275000 SOLE 275000 EQUITY RESIDENTIA PFDCN 29476L883 373 8725 SOLE 8725 BLACKROCK PFD COM 09255J101 1453 95100 SOLE 95100 BLACKROCK PFD INC COM 09255H105 1434 94100 SOLE 94100 COHEN & STEERS PR COM 19247V104 1306 86830 SOLE 86830 COHEN & STEERS RE COM 19247X100 1354 70900 SOLE 70900 FLAHERTY & CRMNE COMSH 338478100 1273 91300 SOLE 91300 FLAHERTY & CRUMRI COM 338479108 1438 96000 SOLE 96000 FRANKLIN TEMPLETO COM 35472T101 1458 130500 SOLE 130500 HANCOCK JOHN PFD COM 41013X106 1393 74400 SOLE 74400 HANCOCK JOHN PFD COM 41021P103 1347 80800 SOLE 80800 ING CLARION REAL COMSH 449788108 1304 124065 SOLE 124065 NEUBERGER BERMAN COMSH 64126L108 1404 140400 SOLE 140400 NUVEEN MULTI STRA COM 67073B106 1364 141800 SOLE 141800 NUVEEN MULTI STRA COMSH 67073D102 1386 140400 SOLE 140400 NUVEEN QUALITY PF COM 67072C105 1369 136600 SOLE 136600 NUVEEN QUALITY PF COM 67071S101 1329 140600 SOLE 140600 RMR REAL ESTATE SHBEN 74963F106 1369 135920 SOLE 135920 ROBERTS REALTY COM 769900101 1082 193200 SOLE 193200 WESTERN ASSET HIG COM 95766J102 1502 157300 SOLE 157300 4939863 311 -----END PRIVACY-ENHANCED MESSAGE-----