13F-HR/A 1 v085195_13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2007 Check here if Amendment |X|; Amendment Number : 1 This Amendment (Check only one.): |X| is a restatement. |_| adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Heartland Advisors, Inc. Address: 789 N. Water St. Suite 500 Milwaukee, WI 53202 Form 13F File Number: 28-3516 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 Reporting Manager: Name: Paul T. Beste Title: Chief Operating Officer Phone: 414-347-7777 Signature, Place and Date of Signing: /s/ Paul T. Beste Milwaukee, Wisconsin August 14, 2007 ------------------ -------------------- --------------- [Signature] [City, State] [Date] Report Type (Check only one.): |X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) |_| 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) |_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s). Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 - Form 13F Information Table Entry Total: 337 --- Form 13F Information Table Value Total: $ 2973092 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE

VOTING AUTHORITY VALUE SHARES SH/ PUT/ INVSTMT OTHER -------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ ALCOA INC COM 013817101 11511 284023 SH SOLE 0 283273 750 ASSET ACCEP CAP CORP COM 04543P100 3540 200000 SH SOLE 0 200000 0 ARKANSAS BEST CORP DEL COM 040790107 5853 150200 SH SOLE 0 150200 0 ABM INDS INC COM 000957100 3650 141400 SH SOLE 0 140900 500 ABRAXAS PETE CORP COM 003830106 2245 500000 SH SOLE 0 500000 0 ACETO CORP COM 004446100 2980 321500 SH SOLE 0 321500 0 AMERICAN COMMERCIAL LINES COM NEW 025195207 7815 300000 SH SOLE 0 300000 0 AXCELIS TECHNOLOGIES INC COM 054540109 14917 2298500 SH SOLE 0 2270800 27700 ACTUATE CORP COM 00508B102 20781 3060600 SH SOLE 0 3058400 2200 ADTRAN INC COM 00738A106 928 35750 SH SOLE 0 35250 500 AGILE SOFTWARE CORP DEL COM 00846X105 6045 750000 SH SOLE 0 750000 0 AGRIUM INC COM 008916108 10818 246800 SH SOLE 0 245700 1100 ALBANY INTL CORP CL A 012348108 10384 256765 SH SOLE 0 255915 850 AAR CORP COM 000361105 4952 150000 SH SOLE 0 150000 0 ALEXANDER & BALDWIN INC COM 014482103 3142 59160 SH SOLE 0 58960 200 ALAMO GROUP INC COM 011311107 3795 150600 SH SOLE 0 150600 0 ALASKA AIR GROUP INC COM 011659109 56823 2039600 SH SOLE 0 1968050 71550 ALLSTATE CORP COM 020002101 11236 182664 SH SOLE 0 182164 500 ANALOGIC CORP COM PAR $0.05 032657207 13714 186563 SH SOLE 0 186263 300 APPLIED MATLS INC COM 038222105 570 28690 SH SOLE 0 27990 700 AMGEN INC COM 031162100 2305 41695 SH SOLE 0 37295 4400 AMERICAN SOFTWARE INC CL A 029683109 952 92400 SH SOLE 0 92400 0 ANALYSTS INTL CORP COM 032681108 3979 2300000 SH SOLE 0 2300000 0 AIRNET SYS INC COM 009417106 4653 1422000 SH SOLE 0 1322000 100000 AEGEAN MARINE PETROLEUM NETW SHS Y0017S102 4711 247700 SH SOLE 0 247100 600 ANADARKO PETE CORP COM 032511107 10263 197408 SH SOLE 0 196808 600 APPLIED SIGNAL TECHNOLOGY IN COM 038237103 12036 771036 SH SOLE 0 697936 73100 APPLIANCE RECYCLING CTRS AME COM NEW 03814F205 1496 356300 SH SOLE 0 356300 0 AMERICAN RAILCAR INDS INC COM 02916P103 6825 175000 SH SOLE 0 175000 0 ARCH CHEMICALS INC COM 03937R102 3514 100000 SH SOLE 0 100000 0 AMERICA SVC GROUP INC COM 02364L109 6768 400000 SH SOLE 0 400000 0 ASHWORTH INC COM 04516H101 10033 1433321 SH SOLE 0 1332132 101189 AMERISERV FINL INC COM 03074A102 6110 1388700 SH SOLE 0 1387600 1100 AMERICAN TECHNOLOGY CORP COM NEW 030145205 377 100000 SH SOLE 0 100000 0 AMERICAN VANGUARD CORP COM 030371108 6133 428300 SH SOLE 0 427900 400 AVANEX CORP COM 05348W109 11727 6515000 SH SOLE 0 6515000 0 AVNET INC COM 053807103 9309 234850 SH SOLE 0 234000 850 BANK OF AMERICA CORPORATION COM 060505104 9344 191119 SH SOLE 0 190544 575 BARRETT BUSINESS SERVICES IN COM 068463108 13217 511682 SH SOLE 0 484000 27682 BOIS D ARC ENERGY INC COM 09738U103 1703 100000 SH SOLE 0 100000 0 BEACON ROOFING SUPPLY INC COM 073685109 8763 515750 SH SOLE 0 514650 1100 BRIGHAM EXPLORATION CO COM 109178103 8805 1500000 SH SOLE 0 1500000 0 BIOSCRIP INC COM 09069N108 33287 6934728 SH SOLE 0 6278772 655956 BUCKEYE TECHNOLOGIES INC COM 118255108 3898 252000 SH SOLE 0 252000 0 BADGER METER INC COM 056525108 15656 554000 SH SOLE 0 554000 0 BOFI HLDG INC COM 05566U108 2884 400000 SH SOLE 0 400000 0 LACROSSE FOOTWARE INC COM 505688101 2493 137990 SH SOLE 0 137990 0 BRISTOW GROUP INC COM 110394103 7433 150000 SH SOLE 0 150000 0 BERRY PETE CO CL A 085789105 5128 136100 SH SOLE 0 136100 0 BANCTRUST FINANCIAL GP COM 05978R107 2654 126400 SH SOLE 0 126400 0 BUCA INC COM 117769109 10380 2965637 SH SOLE 0 2716337 249300 BIOVAIL CORP COM 09067J109 44540 1747260 SH SOLE 0 1701360 45900 BASIN WTR INC COM 07011T306 7830 900000 SH SOLE 0 900000 0

VOTING AUTHORITY VALUE SHARES SH/ PUT/ INVSTMT OTHER -------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ CADENCE FINL CORP COM 12738A101 2961 152000 SH SOLE 0 152000 0 CALLWAVE INC DEL COM 13126N101 3303 910000 SH SOLE 0 910000 0 CATERPILLAR INC DEL COM 149123101 10807 138025 SH SOLE 0 137525 500 CATAPULT COMMUNICATIONS CORP COM 149016107 3968 400000 SH SOLE 0 400000 0 CHINA BAK BATTERY INC COM 16936Y100 5312 1351594 SH SOLE 0 1351594 0 CENTENNIAL BK HLDGS INC DEL COM 151345303 3388 400000 SH SOLE 0 400000 0 CAPITAL BK CORP COM 139793103 3892 231400 SH SOLE 0 230800 600 CAMBREX CORP COM 132011107 5308 400000 SH SOLE 0 400000 0 CBS CORP NEW CL B 124857202 9236 277201 SH SOLE 0 276901 300 CALGON CARBON CORP COM 129603106 5800 500000 SH SOLE 0 500000 0 COMPUDYNE CORP COM PAR $0.75 204795306 4934 910400 SH SOLE 0 866400 44000 C D I CORP COM 125071100 2267 70400 SH SOLE 0 70400 0 CHEMTURA CORP COM 163893100 13156 1184118 SH SOLE 0 1178285 5833 CF INDS HLDGS INC COM 125269100 473 7900 SH SOLE 0 7800 100 CRITICARE SYS INC COM 226901106 5860 1749400 SH SOLE 0 1749400 0 CHAMPS ENTMT INC DEL COM 158787101 2850 600000 SH SOLE 0 600000 0 COLONIAL BANCGROUP INC COM 195493309 3746 150000 SH SOLE 0 150000 0 CONSECO INC COM NEW 208464883 3661 175250 SH SOLE 0 175250 0 CABOT OIL & GAS CORP COM 127097103 218 5900 SH SOLE 0 5900 0 CONOCOPHILLIPS COM 20825C104 11017 140343 SH SOLE 0 139743 600 CARACO PHARMACEUTICAL LABS L COM 14075T107 7590 500000 SH SOLE 0 500000 0 CITIZENS REPUBLIC BANCORP IN COM 174420109 6433 351550 SH SOLE 0 350350 1200 CORGI INTERNATIONAL LIMITED SPON ADR NEW 21872Q202 883 160571 SH SOLE 0 160571 0 CARAUSTAR INDS INC COM 140909102 6470 1232350 SH SOLE 0 1232350 0 CARLISLE COS INC COM 142339100 870 18706 SH SOLE 0 18506 200 COOPER TIRE & RUBR CO COM 216831107 1671 60500 SH SOLE 0 60500 0 COMPUTER TASK GROUP INC COM 205477102 4410 986600 SH SOLE 0 986600 0 CTS CORP COM 126501105 1899 150000 SH SOLE 0 150000 0 CUBIC CORP COM 229669106 9054 300000 SH SOLE 0 300000 0 COVENANT TRANSN INC CL A 22284P105 5700 500000 SH SOLE 0 500000 0 WILLIAMS CLAYTON ENERGY INC COM 969490101 19630 741580 SH SOLE 0 711280 30300 DUCOMMUN INC DEL COM 264147109 4039 156977 SH SOLE 0 156977 0 DEERE & CO COM 244199105 5482 45400 SH SOLE 0 45400 0 DR HORTON INC COM 23331A109 4325 217025 SH SOLE 0 215525 1500 DITECH NETWORKS INC COM 25500T108 4095 500000 SH SOLE 0 500000 0 DIAMOND FOODS INC COM 252603105 2238 127500 SH SOLE 0 127500 0 DOW CHEM CO COM 260543103 7218 163230 SH SOLE 0 162630 600 DIGIRAD CORP COM 253827109 2090 500000 SH SOLE 0 500000 0 DYNAMICS RESH CORP COM 268057106 17203 1320242 SH SOLE 0 1238148 82094 DISCOVERY LABORATORIES INC N COM 254668106 17353 6131900 SH SOLE 0 6099900 32000 DATASCOPE CORP COM 238113104 5742 150000 SH SOLE 0 150000 0 DUCKWALL-ALCO STORES INC NEW COM 264142100 14219 381200 SH SOLE 0 380700 500

VOTING AUTHORITY VALUE SHARES SH/ PUT/ INVSTMT OTHER -------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ ENTERPRISE BANCORP INC MASS COM 293668109 243 15200 SH SOLE 0 11200 4000 ENCORE CAP GROUP INC COM 292554102 352 28185 SH SOLE 0 28185 0 EDUCATION RLTY TR INC COM 28140H104 1403 100000 SH SOLE 0 100000 0 EFJ INC COM 26843B101 5390 1000000 SH SOLE 0 1000000 0 EMS TECHNOLOGIES INC COM 26873N108 11961 542200 SH SOLE 0 519000 23200 EMAK WORLDWIDE INC COM 26861V104 2239 848083 SH SOLE 0 727583 120500 ENDEAVOUR INTL CORP COM 29259G101 679 452800 SH SOLE 0 452800 0 EPIC BANCORP COM 294250105 2813 204590 SH SOLE 0 194979 9611 EVOLUTION PETROLEUM CORP COM 30049A107 610 200000 SH SOLE 0 200000 0 EMRISE CORP COM 29246J101 3146 2600000 SH SOLE 0 2600000 0 ELECTRO SCIENTIFIC INDS COM 285229100 1399 67258 SH SOLE 0 67258 0 ESPEED INC CL A 296643109 8530 987312 SH SOLE 0 987312 0 ETHAN ALLEN INTERIORS INC COM 297602104 6857 200200 SH SOLE 0 200200 0 EASTERN VA BANKSHARES INC COM 277196101 5711 259600 SH SOLE 0 258600 1000 EXAR CORP COM 300645108 4020 300000 SH SOLE 0 300000 0 EXPONENT INC COM 30214U102 20146 900600 SH SOLE 0 842000 58600 EXTREME NETWORKS INC COM 30226D106 8328 2056300 SH SOLE 0 1926300 130000 FUELCELL ENERGY INC COM 35952H106 25783 3255400 SH SOLE 0 3234100 21300 FIRSTCITY FINL CORP COM 33761X107 13175 1310950 SH SOLE 0 1229650 81300 FIRST CONSULTING GROUP INC COM 31986R103 14796 1557500 SH SOLE 0 1499000 58500 FEDEX CORP COM 31428X106 8165 73580 SH SOLE 0 73360 220 FLANDERS CORP COM 338494107 28498 3701100 SH SOLE 0 3538300 162800 FLEXSTEEL INDS INC COM 339382103 1449 100000 SH SOLE 0 100000 0 F N B CORP VA COM 302930102 7378 205508 SH SOLE 0 205508 0 FREDS INC CL A 356108100 21203 1584700 SH SOLE 0 1497200 87500 FSI INTL INC COM 302633102 3190 1000000 SH SOLE 0 1000000 0 FEDERAL SIGNAL CORP COM 313855108 33799 2131093 SH SOLE 0 2072793 58300 FOREST OIL CORP COM PAR $0.01 346091705 27052 640140 SH SOLE 0 639940 200 GENERAL ELECTRIC CO COM 369604103 10683 279085 SH SOLE 0 278485 600 GULF ISLAND FABRICATION INC COM 402307102 25140 724500 SH SOLE 0 714500 10000 GLATFELTER COM 377316104 9770 718890 SH SOLE 0 716340 2550 GLOBAL TRAFFIC NETWORK INC COM 37947B103 273 39600 SH SOLE 0 39600 0 GENCO SHIPPING & TRADING LTD SHS Y2685T107 11858 287400 SH SOLE 0 287300 100 GENTEX CORP COM 371901109 727 36901 SH SOLE 0 36301 600 GOODRICH CORP COM 382388106 12348 207325 SH SOLE 0 206900 425 GREY WOLF INC COM 397888108 11016 1336900 SH SOLE 0 1334200 2700 HF FINL CORP COM 404172108 1563 89206 SH SOLE 0 89206 0 HARLEYSVILLE GROUP INC COM 412824104 2702 81000 SH SOLE 0 81000 0 HOOPER HOLMES INC COM 439104100 11499 3432400 SH SOLE 0 3419200 13200 HUDSON HIGHLAND GROUP INC COM 443792106 21390 1000000 SH SOLE 0 1000000 0 HI/FN INC COM 428358105 9126 1546732 SH SOLE 0 1495400 51332 HORACE MANN EDUCATORS CORP N COM 440327104 5310 250000 SH SOLE 0 250000 0 HOT TOPIC INC COM 441339108 5435 500000 SH SOLE 0 500000 0 BLOCK H & R INC COM 093671105 13206 565095 SH SOLE 0 563395 1700 HOSPIRA INC COM 441060100 6351 162675 SH SOLE 0 162175 500 HUTCHINSON TECHNOLOGY INC COM 448407106 8094 430300 SH SOLE 0 428650 1650

VOTING AUTHORITY VALUE SHARES SH/ PUT/ INVSTMT OTHER -------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ INTERDIGITAL COMMUNICATIONS COM 45866A105 106356 3306050 SH SOLE 0 3231550 74500 INDUSTRIAL DISTR GROUP INC COM 456061100 4527 401000 SH SOLE 0 401000 0 INTERGRATED ELECTRICAL SVC COM 45811E301 1854 56227 SH SOLE 0 56227 0 ISOLAGEN INC COM 46488N103 4250 1000000 SH SOLE 0 1000000 0 INDEPENDENT BANK CORP MASS COM 453836108 4431 150000 SH SOLE 0 150000 0 INSITUFORM TECHNOLOGIES INC CL A 457667103 27739 1271850 SH SOLE 0 1225050 46800 INTERVOICE INC NEW COM 461142101 4165 500000 SH SOLE 0 500000 0 INTERSECTIONS INC COM 460981301 21251 2125132 SH SOLE 0 1999160 125972 INNOVATIVE CARD TECHNLGS INC COM 45773R100 3241 700000 SH SOLE 0 700000 0 INPUT/OUTPUT INC COM 457652105 23415 1500000 SH SOLE 0 1500000 0 IPASS INC COM 46261V108 2710 500000 SH SOLE 0 500000 0 IMAGE SENSING SYS INC COM 45244C104 3100 200000 SH SOLE 0 200000 0 INVACARE CORP COM 461203101 5006 273100 SH SOLE 0 273100 0 HUNT J B TRANS SVCS INC COM 445658107 13060 445430 SH SOLE 0 444030 1400 SANFILIPPO JOHN B & SON INC COM 800422107 3300 300000 SH SOLE 0 300000 0 JOHNSON CTLS INC COM 478366107 2142 18500 SH SOLE 0 18400 100 JOURNAL REGISTER CO COM 481138105 13910 3104900 SH SOLE 0 2923400 181500 JAMES RIVER COAL CO COM NEW 470355207 12960 1000000 SH SOLE 0 1000000 0 JUPITERMEDIA CORP COM 48207D101 14377 1974800 SH SOLE 0 1857600 117200 KELLY SVCS INC CL A 488152208 2746 100000 SH SOLE 0 100000 0 KMG AMER CORP COM 482563103 7875 1500000 SH SOLE 0 1500000 0 KOPIN CORP COM 500600101 2882 738986 SH SOLE 0 738986 0 QUAKER CHEM CORP COM 747316107 3776 160000 SH SOLE 0 160000 0 LAKES ENTMNT INC COM 51206P109 5905 500000 SH SOLE 0 500000 0 LAKELAND INDS INC COM 511795106 6930 500000 SH SOLE 0 500000 0 LIONS GATE ENTMNT CORP COM NEW 535919203 13236 1200000 SH SOLE 0 1200000 0 FIDELITY SOUTHN CORP NEW COM 316394105 2535 150000 SH SOLE 0 150000 0 LATTICE SEMICONDUCTOR CORP COM 518415104 8580 1500000 SH SOLE 0 1500000 0 CAPITAL LEASE FDG INC COM 140288101 8721 811300 SH SOLE 0 802300 9000 LIMITED BRANDS INC COM 532716107 3439 125300 SH SOLE 0 125300 0 LANTRONIX INC COM 516548104 7700 5500000 SH SOLE 0 5500000 0 SOUTHWEST AIRLS CO COM 844741108 10374 695763 SH SOLE 0 693963 1800 L S B BANCSHARES N C COM 502158108 683 50000 SH SOLE 0 50000 0 LSI INDS INC COM 50216C108 7160 400000 SH SOLE 0 400000 0 MAGNETEK INC COM 559424106 10305 2001000 SH SOLE 0 2001000 0 MAGAL SECURITY SYS LTD ORD M6786D104 2258 223141 SH SOLE 0 223141 0 MASCO CORP COM 574599106 2301 80825 SH SOLE 0 80325 500 MICREL INC COM 594793101 4452 350000 SH SOLE 0 350000 0 MASSEY ENERGY CORP COM 576206106 16662 625200 SH SOLE 0 625200 0 MIDWEST AIR GROUP INC COM 597911106 4671 311000 SH SOLE 0 311000 0 MENTOR GRAPHICS CORP COM 587200106 9264 703400 SH SOLE 0 703400 0 MESA AIR GROUP INC COM 590479101 20839 3152640 SH SOLE 0 2992940 159700 MFRI INC COM 552721102 8501 303700 SH SOLE 0 303700 0 MULTIMEDIA GAMES INC COM 625453105 2552 200000 SH SOLE 0 200000 0 MGP INGREDIENTS INC COM 55302G103 5489 324800 SH SOLE 0 324800 0 MARSHALL & ILSLEY CORP COM 571834100 10255 215307 SH SOLE 0 214257 1050 MEADOWBROOK INS GROUP INC COM 58319P108 3836 350000 SH SOLE 0 350000 0 MOCON INC COM 607494101 2300 200000 SH SOLE 0 200000 0 MODINE MFG CO COM 607828100 216 9575 SH SOLE 0 9575 0 MODTECH HLDGS INC COM 60783C100 8203 3038200 SH SOLE 0 2786400 251800

VOTING AUTHORITY VALUE SHARES SH/ PUT/ INVSTMT OTHER -------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ MOTOROLA INC COM 620076109 7405 418365 SH SOLE 0 416815 1550 MET PRO CORP COM 590876306 6284 400000 SH SOLE 0 400000 0 MEDICAL STAFFING NTWK HLDGS COM 58463F104 9262 1699400 SH SOLE 0 1612100 87300 MARTEN TRANS LTD COM 573075108 15110 839000 SH SOLE 0 797400 41600 MTC TECHNOLOGIES INC COM 55377A106 2456 100000 SH SOLE 0 100000 0 MGIC INVT CORP WIS COM 552848103 8588 151032 SH SOLE 0 150477 555 MASTEC INC COM 576323109 14084 890250 SH SOLE 0 887450 2800 MUELLER WTR PRODS INC COM SER A 624758108 17108 1002800 SH SOLE 0 1002800 0 NATIONAL DENTEX CORP COM 63563H109 985 52463 SH SOLE 0 52463 0 NAVIGANT CONSULTING INC COM 63935N107 1856 100000 SH SOLE 0 100000 0 NATIONAL HOME HEALTH CARE CO COM 636380107 6382 506502 SH SOLE 0 506502 0 NEKTAR THERAPEUTICS COM 640268108 32367 3410600 SH SOLE 0 3308800 101800 NAUTILUS INC COM 63910B102 6475 537800 SH SOLE 0 537100 700 NOVELL INC COM 670006105 7790 1000000 SH SOLE 0 1000000 0 NEWPARK RES INC COM PAR $.01NE W651718504 47222 6093100 SH SOLE 0 5856600 236500 NAPCO SEC SYS INC COM 630402105 7245 1150000 SH SOLE 0 1150000 0 NATROL INC COM 638789107 3912 1164359 SH SOLE 0 1119259 45100 NORTHWEST PIPE CO COM 667746101 8893 250000 SH SOLE 0 250000 0 QUANEX CORP COM 747620102 4875 100100 SH SOLE 0 100100 0 NEXITY FINL CORP COM NEW 65333R200 1638 159300 SH SOLE 0 151800 7500 OIL DRI CORP AMER COM 677864100 13252 755125 SH SOLE 0 709750 45375 O I CORP COM 670841105 3369 245900 SH SOLE 0 245900 0 OLIN CORP COM PAR $1 680665205 4200 200000 SH SOLE 0 200000 0 OMNOVA SOLUTIONS INC COM 682129101 18788 3105500 SH SOLE 0 2981700 123800 OPLINK COMMUNICATIONS INC COM NEW 68375Q403 3000 200000 SH SOLE 0 200000 0 OPTIMAL GROUP INC CL A NEW 68388R208 1510 200000 SH SOLE 0 200000 0 OPNET TECHNOLOGIES INC COM 683757108 2302 200000 SH SOLE 0 200000 0 OSTEOTECH INC COM 688582105 15523 2156010 SH SOLE 0 2053500 102510 PAB BANKSHARES INC COM 69313P101 2059 107500 SH SOLE 0 107500 0 PATRICK INDS INC COM 703343103 6161 390925 SH SOLE 0 354625 36300 PRESTIGE BRANDS HLDGS INC COM 74112D101 2596 200000 SH SOLE 0 200000 0 PDI INC COM 69329V100 20440 1992200 SH SOLE 0 1849200 143000 PEROT SYS CORP CL A 714265105 8520 500000 SH SOLE 0 500000 0 PERMA-FIX ENVIRONMENTAL SVCS COM 714157104 13456 4383045 SH SOLE 0 4042845 340200 PFIZER INC COM 717081103 12777 499688 SH SOLE 0 489488 10200 PARK ELECTROCHEMICAL CORP COM 700416209 7045 250000 SH SOLE 0 250000 0 PRESIDENTIAL LIFE CORP COM 740884101 25664 1305400 SH SOLE 0 1258400 47000 POLYMET MINING CORP COM 731916102 13582 4009000 SH SOLE 0 4009000 0 EPLUS INC COM 294268107 4335 445500 SH SOLE 0 445500 0 PLEXUS CORP COM 729132100 14453 628650 SH SOLE 0 627850 800 PMA CAP CORP CL A 693419202 11985 1121100 SH SOLE 0 1118500 2600 PARAMETRIC TECHNOLOGY CORP COM NEW 699173209 6489 300300 SH SOLE 0 300300 0 PENTAIR INC COM 709631105 11477 297555 SH SOLE 0 296605 950 POPE & TALBOT INC COM 732827100 3970 1000000 SH SOLE 0 1000000 0 PACIFIC PREMIER BANCORP COM 69478X105 5411 506200 SH SOLE 0 501200 5000 PPG INDS INC COM 693506107 8310 109190 SH SOLE 0 108835 355 PRA INTL COM 69353C101 230 9100 SH SOLE 0 9100 0 PARKERVISION INC COM 701354102 21328 1784742 SH SOLE 0 1784742 0 PORTEC RAIL PRODS INC COM 736212101 9973 824900 SH SOLE 0 785400 39500 PAREXEL INTL CORP COM 699462107 8479 201600 SH SOLE 0 201600 0 MONTEREY GOURMET FOODS INC COM 612570101 2958 692657 SH SOLE 0 690957 1700 PHOENIX FOOTWEAR GROUP INC COM 71903M100 2812 852200 SH SOLE 0 852200 0 PLAINS EXPL& PRODTN CO COM 726505100 15424 322600 SH SOLE 0 319900 2700 QAD INC COM 74727D108 2087 251500 SH SOLE 0 251500 0 QUINTANA MARITIME LTD SHS Y7169G109 31086 1965000 SH SOLE 0 1896500 68500 QUEST RESOURCE CORP COM NEW 748349305 20975 1795800 SH SOLE 0 1667300 128500 QUIXOTE CORP COM 749056107 2979 159300 SH SOLE 0 159300 0

VOTING AUTHORITY VALUE SHARES SH/ PUT/ INVSTMT OTHER -------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ RENT A CTR INC NEW COM 76009N100 18084 689430 SH SOLE 0 688480 950 ROYAL CARIBBEAN CRUISES INC COM V7780T103 4582 106615 SH SOLE 0 106315 300 RCM TECHNOLOGIES INC COM NEW 749360400 11736 1506600 SH SOLE 0 1381900 124700 PRINCETON REVIEW INC COM 742352107 11112 2324626 SH SOLE 0 2271626 53000 REGAL ENTMT GROUP CL A 758766109 4395 200400 SH SOLE 0 200400 0 REGIS CORP MINN COM 758932107 15300 400000 SH SOLE 0 400000 0 WIRELESS RONIN TECHNOLOGIES COM 97652A203 7400 925000 SH SOLE 0 925000 0 RENASANT CORP COM 75970E107 8120 357100 SH SOLE 0 355900 1200 ROSETTA RESOURCES INC COM 777779307 8616 400000 SH SOLE 0 400000 0 RPM INTL INC COM 749685103 10370 448740 SH SOLE 0 447040 1700 REX STORES CORP COM 761624105 1983 100000 SH SOLE 0 100000 0 RIVERVIEW BANCORP INC COM 769397100 2398 174800 SH SOLE 0 174800 0 RASER TECHNOLOGIES INC COM 754055101 7946 1075269 SH SOLE 0 1075269 0 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 309 7000 SH SOLE 0 6600 400 SPANISH BROADCASTING SYS INC CL A 846425882 17352 4035400 SH SOLE 0 3784000 251400 SCHOOL SPECIALTY INC COM 807863105 7294 205800 SH SOLE 0 205800 0 STEPAN CO COM 858586100 3612 119300 SH SOLE 0 116600 2700 SOUTHERN CMNTY FINL CORP COM 842632101 1328 150000 SH SOLE 0 150000 0 SYCAMORE NETWORKS INC COM 871206108 20120 5005000 SH SOLE 0 5005000 0 SHENGDA TECH INC COM 823213103 2660 500000 SH SOLE 0 500000 0 ORIGIN ARGITECH LIMITED SHS G67828106 22374 2711940 SH SOLE 0 2544240 167700 STIFEL FINL CORP COM 860630102 11778 200000 SH SOLE 0 200000 0 SMITHFIELD FOODS INC COM 832248108 11468 372470 SH SOLE 0 371370 1100 SPHERION CORP COM 848420105 14085 1500000 SH SOLE 0 1500000 0 SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 2072 75100 SH SOLE 0 75100 0 SWIFT ENERGY CO COM 870738101 26084 610000 SH SOLE 0 592300 17700 SAGA COMMUNICATIONS CL A 786598102 5203 530900 SH SOLE 0 505900 25000 SANGAMO BIOSCIENCES INC COM 800677106 8128 1001000 SH SOLE 0 1001000 0 SPAR GROUP INC COM 784933103 1486 1228000 SH SOLE 0 1228000 0 SCPIE HLDGS INC COM 78402P104 8950 358000 SH SOLE 0 358000 0 STEIN MART INC COM 858375108 9370 764250 SH SOLE 0 763950 300 INVENTURE GROUP INC COM 461214108 8156 2581122 SH SOLE 0 2581122 0 SENESCO TECHNOLOGIES INC COM NEW 817208408 1856 1614000 SH SOLE 0 1614000 0 STARTEK INC COM 85569C107 5817 539100 SH SOLE 0 539100 0 SMURFIT-STONE CONTAINER CORP COM 832727101 3183 239125 SH SOLE 0 236625 2500 STAAR SURGICAL CO COM PAR $0.01 852312305 13631 3568450 SH SOLE 0 3393150 175300 STERIS CORP COM 859152100 9685 316500 SH SOLE 0 316500 0 STEC INC COM 784774101 3215 500000 SH SOLE 0 500000 0 SUNTRUST BKS INC COM 867914103 11270 131440 SH SOLE 0 130965 475 SRI/SURGICAL EXPRESS INC COM 78464W104 4603 885100 SH SOLE 0 835400 49700 STRATTEC SEC CORP COM 863111100 4700 100000 SH SOLE 0 100000 0 SUPREME INDS INC CL A 868607102 863 124400 SH SOLE 0 124400 0 STERLING FINL CORP WASH COM 859319105 17774 614162 SH SOLE 0 614162 0 SEAGATE TECHNOLOGY SHS G7945J104 8062 370325 SH SOLE 0 369575 750 CONSTELLATION BRANDS INC CL A 21036P108 8355 344100 SH SOLE 0 343000 1100 SPECIALTY UNDERWRITERS ALLIA COM 84751T309 7094 896800 SH SOLE 0 842400 54400 SKYWORKS SOLUTIONS INC COM 83088M102 21044 2863085 SH SOLE 0 2851985 11100 SYNOVIS LIFE TECHNOLOGIES IN COM 87162G105 4326 300400 SH SOLE 0 300400 0 SYNERGX SYSTEMS INC COM 87160C106 1100 500000 SH SOLE 0 500000 0 TEXAS CAPITAL BANKSHARES INC COM 88224Q107 7291 326200 SH SOLE 0 288200 38000 TIDEWATER INC COM 886423102 7797 110000 SH SOLE 0 110000 0 TECHTEAM GLOBAL INC COM 878311109 12621 1055300 SH SOLE 0 1054300 1000 INTEGRYS ENERGY GROUP INC COM 45822P105 9783 192850 SH SOLE 0 192125 725 TIER TECHNOLOGIES INC CL B 88650Q100 19694 2009630 SH SOLE 0 1868180 141450 TOLL BROTHERS INC COM 889478103 3441 137750 SH SOLE 0 137600 150 TRIQUINT SEMICONDUCTOR INC COM 89674K103 12952 2559700 SH SOLE 0 2559700 0 TRINITY BIOTECH PLC SPON ADR NEW 896438306 8698 749350 SH SOLE 0 746450 2900 TRC COS INC COM 872625108 11128 750400 SH SOLE 0 750400 0 TIMBERLAND BANCORP INC COM 887098101 1570 100000 SH SOLE 0 100000 0 SOUTH FINL GROUP INC COM 837841105 27943 1234250 SH SOLE 0 1175050 59200 TASTY BAKING CO COM 876553306 5230 500000 SH SOLE 0 500000 0 TETRA TECH INC NEW COM 88162G103 2708 125657 SH SOLE 0 125657 0 TUESDAY MORNING CORP COM NEW 899035505 10793 873200 SH SOLE 0 872900 300 PLATO LEARNING INC COM 72764Y100 8539 1856245 SH SOLE 0 1856245 0 TREX INC COM 89531P105 1963 100000 SH SOLE 0 100000 0 THIRD WAVE TECHNOLOGIES INC COM 88428W108 9748 1666300 SH SOLE 0 1666300 0 UGI CORP NEW COM 902681105 10630 389650 SH SOLE 0 388400 1250

VOTING AUTHORITY VALUE SHARES SH/ PUT/ INVSTMT OTHER -------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ UNUM GROUP COM 91529Y106 16798 643360 SH SOLE 0 642010 1350 UNION PAC CORP COM 907818108 6698 58165 SH SOLE 0 58030 135 UROPLASTY INC COM NEW 917277204 5074 1188332 SH SOLE 0 1188332 0 UQM TECHNOLOGIES INC COM 903213106 5308 1457300 SH SOLE 0 1449300 8000 URS CORP NEW COM 903236107 14584 300400 SH SOLE 0 300400 0 ORTHOVITA INC COM 68750U102 5090 1696800 SH SOLE 0 1694100 2700 VISTACARE INC CL A 92839Y109 15139 1541700 SH SOLE 0 1471400 70300 WESCO INTL INC COM 95082P105 7030 116290 SH SOLE 0 116290 0 MEMC ELECTR MATLS INC COM 552715104 1022 16725 SH SOLE 0 16425 300 SM&A COM 78465D105 6774 966300 SH SOLE 0 966300 0 WASHINGTON MUT INC COM 939322103 416 9747 SH SOLE 0 9747 0 WRIGHT MED GROUP INC COM 98235T107 7047 292150 SH SOLE 0 291950 200 WAL MART STORES INC COM 931142103 11734 243891 SH SOLE 0 239091 4800 WAUSAU PAPER CORP COM 943315101 7843 585300 SH SOLE 0 584900 400 WSB FINANCIAL GROUP INC COM 92933E108 4661 295000 SH SOLE 0 295000 0 WESTELL TECHNOLOGIES INC CL A 957541105 6525 2500000 SH SOLE 0 2500000 0 WYETH COM 983024100 9075 158267 SH SOLE 0 157718 549 CIMAREX ENERGY CO COM 171798101 14945 379225 SH SOLE 0 378675 550 EXPRESS 1 EXPEDITED SOLUTION COM 30217Q108 272 200000 SH SOLE 0 200000 0 LECG CORP COM 523234102 23156 1532489 SH SOLE 0 1458889 73600 ZIX CORP COM 98974P100 3399 1837500 SH SOLE 0 1837500 0 ZAREBA SYSTEMS INC COM 989131107 1659 237000 SH SOLE 0 237000 0 TOTAL 2973092 TOTAL ENTRIES 337