13F-HR 1 v093641_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: September 30, 2007 Check here if Amendment |_|; Amendment Number :______________ This Amendment (Check only one.): |_| 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 November 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: 289 --- Form 13F Information Table Value Total: $ 2499239 ----------- (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 ------------------------------------------------------------------------------------------------------------------------------------ 4 KIDS ENTMT INC COM 350865101 3518 200000 SH SOLE 200000 0 ABM INDS INC COM 000957100 3934 196900 SH SOLE 196400 500 ABRAXAS PETE CORP COM 003830106 1910 500000 SH SOLE 500000 0 ACETO CORP COM 004446100 2700 300000 SH SOLE 300000 0 ACTUATE CORP COM 00508B102 9702 1504200 SH SOLE 1504200 0 ADTRAN INC COM 00738A106 8162 354400 SH SOLE 352800 1600 AGRIUM INC COM 008916108 2192 40300 SH SOLE 40300 0 AIRNET SYS INC COM 009417106 3577 1413890 SH SOLE 1313890 100000 ALASKA AIR GROUP INC COM 011659109 39151 1695600 SH SOLE 1636250 59350 ALBANY INTL CORP CL A 012348108 9499 253375 SH SOLE 252525 850 ALCOA INC COM 013817101 11028 281898 SH SOLE 280898 1000 ALDILA INC COM NEW 014384200 1653 100000 SH SOLE 100000 0 ALLSTATE CORP COM 020002101 10649 186199 SH SOLE 185499 700 AMERICA SVC GROUP INC COM 02364L109 4540 400000 SH SOLE 400000 0 AMERICAN COMMERCIAL LINES COM NEW 025195207 9492 400000 SH SOLE 400000 0 AMERICAN VANGUARD CORP COM 030371108 8616 441400 SH SOLE 440800 600 AMERISERV FINL INC COM 03074A102 4007 1203430 SH SOLE 1203430 0 ANADARKO PETE CORP COM 032511107 10914 203043 SH SOLE 202443 600 ANALYSTS INTL CORP COM 032681108 3496 2300000 SH SOLE 2300000 0 APPLIANCE RECYCLING CTRS AME COM NEW 03814F205 2388 280000 SH SOLE 280000 0 APPLIED MATLS INC COM 038222105 606 29290 SH SOLE 28190 1100 APPLIED SIGNAL TECHNOLOGY IN COM 038237103 13279 982200 SH SOLE 934200 48000 ARCH CHEMICALS INC COM 03937R102 4688 100000 SH SOLE 100000 0 ARKANSAS BEST CORP DEL COM 040790107 4899 150000 SH SOLE 150000 0 ASHWORTH INC COM 04516H101 8980 1460128 SH SOLE 1366439 93689 ASSET ACCEP CAP CORP COM 04543P100 5800 500000 SH SOLE 500000 0 AVANEX CORP COM 05348W109 12325 7515000 SH SOLE 7515000 0 AVNET INC COM 053807103 9351 234600 SH SOLE 233750 850 AXCELIS TECHNOLOGIES INC COM 054540109 11938 2336137 SH SOLE 2308437 27700 BADGER METER INC COM 056525108 16801 524200 SH SOLE 524200 0 BANK OF AMERICA CORPORATION COM 060505104 9732 193599 SH SOLE 193024 575 BARRETT BUSINESS SERVICES IN COM 068463108 9532 400000 SH SOLE 400000 0 BASIN WTR INC COM 07011T306 10647 900000 SH SOLE 900000 0 BEACON ROOFING SUPPLY INC COM 073685109 531 51950 SH SOLE 51950 0 BERRY PETE CO CL A 085789105 6453 163000 SH SOLE 162800 200 BIOSCRIP INC COM 09069N108 42189 6571498 SH SOLE 6091234 480264 BIOVAIL CORP COM 09067J109 28518 1637860 SH SOLE 1612160 25700 BLOCK H & R INC COM 093671105 12202 576090 SH SOLE 574090 2000 BOFI HLDG INC COM 05566U108 2956 400000 SH SOLE 400000 0 BRIGHAM EXPLORATION CO COM 109178103 8536 1439425 SH SOLE 1439425 0 BUCA INC COM 117769109 5592 2990234 SH SOLE 2749734 240500 C D I CORP COM 125071100 3582 128495 SH SOLE 128495 0 CABOT OIL & GAS CORP COM 127097103 207 5900 SH SOLE 5900 0 CADENCE FINL CORP COM 12738A101 3520 200000 SH SOLE 200000 0 CALGON CARBON CORP COM 129603106 6726 481800 SH SOLE 481800 0 CALLWAVE INC DEL COM 13126N101 2900 1000000 SH SOLE 1000000 0 CAMBREX CORP COM 132011107 3722 341800 SH SOLE 341800 0 CAPLEASE INC COM 140288101 8229 802800 SH SOLE 794900 7900 CARACO PHARMACEUTICAL LABS L COM 14075T107 7625 500000 SH SOLE 500000 0 CARLISLE COS INC COM 142339100 914 18806 SH SOLE 18606 200 CATAPULT COMMUNICATIONS CORP COM 149016107 3056 400000 SH SOLE 400000 0 CATERPILLAR INC DEL COM 149123101 10888 138830 SH SOLE 138330 500 CBS CORP NEW CL B 124857202 8847 280866 SH SOLE 280566 300 CENTENNIAL BK HLDGS INC DEL COM 151345303 477 74600 SH SOLE 74600 0 CENTRAL GARDEN & PET CO COM 153527106 321 36020 SH SOLE 36020 0 CHEMTURA CORP COM 163893100 14061 1581718 SH SOLE 1575885 5833 CIMAREX ENERGY CO COM 171798101 16866 452780 SH SOLE 451830 950 CITIZENS REPUBLIC BANCORP IN COM 174420109 8424 522909 SH SOLE 521309 1600 COMPUTER TASK GROUP INC COM 205477102 4350 1000000 SH SOLE 1000000 0 CONOCOPHILLIPS COM 20825C104 12335 140533 SH SOLE 139933 600 CONSTELLATION BRANDS INC CL A 21036P108 10866 448840 SH SOLE 447040 1800 COOPER TIRE & RUBR CO COM 216831107 1335 54700 SH SOLE 54700 0 CORGI INTERNATIONAL LIMITED SPON ADR NEW 21872Q202 707 160571 SH SOLE 160571 0 COVIDIEN LTD COM G2552X108 10322 248722 SH SOLE 247822 900 COWEN GROUP INC COM 223621103 8512 615900 SH SOLE 615900 0 CRITICARE SYS INC COM 226901106 5043 1709400 SH SOLE 1709400 0 CTS CORP COM 126501105 5012 388500 SH SOLE 388100 400 DATASCOPE CORP COM 238113104 8456 250100 SH SOLE 250100 0 DIGIRAD CORP COM 253827109 1755 543300 SH SOLE 543300 0 DISCOVERY LABORATORIES INC N COM 254668106 16457 6118000 SH SOLE 6086000 32000 DITECH NETWORKS INC COM 25500T108 5120 971488 SH SOLE 971488 0 DOW CHEM CO COM 260543103 7110 165130 SH SOLE 164530 600 DR HORTON INC COM 23331A109 3663 285955 SH SOLE 283955 2000 DUCKWALL-ALCO STORES INC NEW COM 264142100 14029 380700 SH SOLE 380700 0 DUCOMMUN INC DEL COM 264147109 6460 200000 SH SOLE 200000 0 DYNAMICS RESH CORP COM 268057106 14313 1281342 SH SOLE 1229248 52094 EASTERN VA BANKSHARES INC COM 277196101 5157 264600 SH SOLE 263600 1000 EDUCATION RLTY TR INC COM 28140H104 4239 314000 SH SOLE 313700 300 EFJ INC COM 26843B101 5800 1000000 SH SOLE 1000000 0 ELECTRO RENT CORP COM 285218103 1309 93400 SH SOLE 93400 0 EMAK WORLDWIDE INC COM 26861V104 1112 842323 SH SOLE 726983 115340 EMRISE CORP COM 29246J101 3283 3568000 SH SOLE 3568000 0 EMS TECHNOLOGIES INC COM 26873N108 12810 522200 SH SOLE 499000 23200 ENCORE CAP GROUP INC COM 292554102 6804 576629 SH SOLE 576629 0 EPIC BANCORP COM 294250105 3774 294831 SH SOLE 294517 314 EPLUS INC COM 294268107 3083 350300 SH SOLE 350300 0 ESPEED INC CL A 296643109 8422 987312 SH SOLE 987312 0 EXAR CORP COM 300645108 3918 300000 SH SOLE 300000 0 EXPONENT INC COM 30214U102 19886 792600 SH SOLE 767600 25000 EXPRESS 1 EXPEDITED SOLUTION COM 30217Q108 248 200000 SH SOLE 200000 0 EXTREME NETWORKS INC COM 30226D106 4374 1139100 SH SOLE 1009100 130000 F N B CORP VA COM 302930102 4514 150000 SH SOLE 150000 0 FEDERAL SIGNAL CORP COM 313855108 38173 2485193 SH SOLE 2432893 52300 FEDEX CORP COM 31428X106 8894 84905 SH SOLE 84635 270 FIDELITY SOUTHN CORP NEW COM 316394105 7465 500000 SH SOLE 500000 0 FIRST CONSULTING GROUP INC COM 31986R103 16232 1575900 SH SOLE 1517400 58500 FIRSTCITY FINL CORP COM 33761X107 12859 1300182 SH SOLE 1240282 59900 FLANDERS CORP COM 338494107 15773 3451417 SH SOLE 3316717 134700 FLEXSTEEL INDS INC COM 339382103 1400 100000 SH SOLE 100000 0 FOREST OIL CORP COM PAR $0.01 346091705 871 20240 SH SOLE 20040 200 FORTUNE BRANDS INC COM 349631101 581 7125 SH SOLE 7125 0 FREDS INC CL A 356108100 11297 1072835 SH SOLE 1013735 59100 FSI INTL INC COM 302633102 2330 1000000 SH SOLE 1000000 0 FUELCELL ENERGY INC COM 35952H106 29101 3255200 SH SOLE 3233900 21300 GENCO SHIPPING & TRADING LTD SHS Y2685T107 4097 62525 SH SOLE 62425 100 GENERAL ELECTRIC CO COM 369604103 11809 285240 SH SOLE 284440 800 GENTEX CORP COM 371901109 846 39451 SH SOLE 38851 600 GLATFELTER COM 377316104 10706 721445 SH SOLE 718295 3150 GOODRICH CORP COM 382388106 14052 205950 SH SOLE 205525 425 GREY WOLF INC COM 397888108 8970 1369500 SH SOLE 1366800 2700 GULF ISLAND FABRICATION INC COM 402307102 19825 516400 SH SOLE 506400 10000 HARLEYSVILLE GROUP INC COM 412824104 5504 172100 SH SOLE 171900 200 HAWTHORN BANKSHARES INC COM 420476103 3765 121450 SH SOLE 121450 0 HF FINL CORP COM 404172108 1600 100000 SH SOLE 100000 0 HI/FN INC COM 428358105 10634 1300000 SH SOLE 1300000 0 HOOPER HOLMES INC COM 439104100 12960 5491700 SH SOLE 5475500 16200 HORACE MANN EDUCATORS CORP N COM 440327104 4928 250000 SH SOLE 250000 0 HORMEL FOODS CORP COM 440452100 6899 192820 SH SOLE 192820 0 HOSPIRA INC COM 441060100 6645 160325 SH SOLE 159825 500 HUDSON HIGHLAND GROUP INC COM 443792106 12730 1000000 SH SOLE 1000000 0 HUNT J B TRANS SVCS INC COM 445658107 8978 341360 SH SOLE 339960 1400 IMAGE SENSING SYS INC COM 45244C104 2540 200000 SH SOLE 200000 0 INDUSTRIAL DISTR GROUP INC COM 456061100 4729 501000 SH SOLE 501000 0 INSITUFORM TECHNOLOGIES INC CL A 457667103 25587 1680070 SH SOLE 1616370 63700 INSTEEL INDUSTRIES INC COM 45774W108 3838 250000 SH SOLE 250000 0 INTEGRYS ENERGY GROUP INC COM 45822P105 9987 194945 SH SOLE 194020 925 INTERDIGITAL INC COM 45867G101 70049 3371000 SH SOLE 3298900 72100 INTERSECTIONS INC COM 460981301 24562 2405639 SH SOLE 2317960 87679 INTERVOICE INC NEW COM 461142101 4695 500000 SH SOLE 500000 0 INVACARE CORP COM 461203101 435 18600 SH SOLE 18600 0 INVENTURE GROUP INC COM 461214108 5562 2539704 SH SOLE 2539704 0 IPASS INC COM 46261V108 2100 500000 SH SOLE 500000 0 ISOLAGEN INC COM 46488N103 2660 1000000 SH SOLE 1000000 0 JOHNSON CTLS INC COM 478366107 2067 17500 SH SOLE 17400 100 JOURNAL REGISTER CO COM 481138105 13291 5537900 SH SOLE 5189400 348500 JUPITERMEDIA CORP COM 48207D101 11061 1747400 SH SOLE 1700000 47400 KMG AMER CORP COM 482563103 5920 1000000 SH SOLE 1000000 0 KOPIN CORP COM 500600101 3717 975500 SH SOLE 975500 0 LACROSSE FOOTWARE INC COM 505688101 2457 137590 SH SOLE 137590 0 LAKELAND INDS INC COM 511795106 5980 500000 SH SOLE 500000 0 LANTRONIX INC COM 516548104 5405 5514800 SH SOLE 5514800 0 LATTICE SEMICONDUCTOR CORP COM 518415104 6735 1500000 SH SOLE 1500000 0 LECG CORP COM 523234102 29378 1971700 SH SOLE 1903100 68600 LIFECORE BIOMEDICAL INC COM 532187101 1018 78923 SH SOLE 78923 0 LIFEPOINT HOSPITALS INC COM 53219L109 6011 200285 SH SOLE 200285 0 LSI INDS INC COM 50216C108 10022 488400 SH SOLE 487900 500 MAGAL SECURITY SYS LTD ORD M6786D104 1158 130226 SH SOLE 130226 0 MAGNETEK INC COM 559424106 12021 2504300 SH SOLE 2504300 0 MARSHALL & ILSLEY CORP COM 571837103 10053 229682 SH SOLE 228532 1150 MARTEN TRANS LTD COM 573075108 13515 877000 SH SOLE 836300 40700 MASCO CORP COM 574599106 1165 50295 SH SOLE 49795 500 MASSEY ENERGY CORP COM 576206106 22265 1020400 SH SOLE 1020000 400 MASTEC INC COM 576323109 12746 905910 SH SOLE 903110 2800 MEADOWBROOK INS GROUP INC COM 58319P108 3154 350000 SH SOLE 350000 0 MEDICAL STAFFING NTWK HLDGS COM 58463F104 8826 1723900 SH SOLE 1636600 87300 MEMC ELECTR MATLS INC COM 552715104 247 4200 SH SOLE 4200 0 MENTOR GRAPHICS CORP COM 587200106 7550 500000 SH SOLE 500000 0 MESA AIR GROUP INC COM 590479101 12751 2871740 SH SOLE 2709840 161900 MET PRO CORP COM 590876306 6472 400000 SH SOLE 400000 0 MFRI INC COM 552721102 3568 200000 SH SOLE 200000 0 MICREL INC COM 594793101 8765 811600 SH SOLE 810800 800 MOCON INC COM 607494101 2340 200000 SH SOLE 200000 0 MODINE MFG CO COM 607828100 255 9575 SH SOLE 9575 0 MODTECH HLDGS INC COM 60783C100 5436 2938500 SH SOLE 2684600 253900 MONTEREY GOURMET FOODS INC COM 612570101 2616 686657 SH SOLE 684957 1700 MOTOROLA INC COM 620076109 1648 88912 SH SOLE 87712 1200 MTC TECHNOLOGIES INC COM 55377A106 7724 400000 SH SOLE 400000 0 MUELLER WTR PRODS INC COM SER A 624758108 12411 1001700 SH SOLE 1001700 0 MULTIMEDIA GAMES INC COM 625453105 1704 200000 SH SOLE 200000 0 NAPCO SEC SYS INC COM 630402105 8407 1509300 SH SOLE 1509300 0 NATIONAL DENTEX CORP COM 63563H109 5094 320953 SH SOLE 320953 0 NATIONAL HOME HEALTH CARE CO COM 636380107 6255 506502 SH SOLE 506502 0 NATROL INC COM 638789107 3000 1000000 SH SOLE 1000000 0 NAVIGANT CONSULTING INC COM 63935N107 10446 825100 SH SOLE 824700 400 NEKTAR THERAPEUTICS COM 640268108 16370 1853900 SH SOLE 1785700 68200 NEWBRIDGE BANCORP COM 65080T102 635 50000 SH SOLE 50000 0 NEWPARK RES INC COM PAR $.01NEW 651718504 32045 5978600 SH SOLE 5798200 180400 NEXITY FINL CORP COM NEW 65333R200 328 39500 SH SOLE 32000 7500 NORTHWEST PIPE CO COM 667746101 6895 182300 SH SOLE 182300 0 NOVELL INC COM 670006105 7640 1000000 SH SOLE 1000000 0 O I CORP COM 670841105 3074 245900 SH SOLE 245900 0 OIL DRI CORP AMER COM 677864100 13526 735125 SH SOLE 704750 30375 OLIN CORP COM PAR $1 680665205 7166 320200 SH SOLE 320000 200 OMNOVA SOLUTIONS INC COM 682129101 18404 3184100 SH SOLE 3060300 123800 OPLINK COMMUNICATIONS INC COM NEW 68375Q403 422 30900 SH SOLE 30900 0 OPNET TECHNOLOGIES INC COM 683757108 2320 200000 SH SOLE 200000 0 OPTIMAL GROUP INC CL A NEW 68388R208 2160 400000 SH SOLE 400000 0 ORIGIN ARGITECH LIMITED SHS G67828106 20432 2691990 SH SOLE 2524490 167500 OSTEOTECH INC COM 688582105 15950 2121010 SH SOLE 2028500 92510 PACIFIC PREMIER BANCORP COM 69478X105 5099 482400 SH SOLE 477400 5000 PARAMETRIC TECHNOLOGY CORP COM NEW 699173209 5226 300000 SH SOLE 300000 0 PARK ELECTROCHEMICAL CORP COM 700416209 8398 250100 SH SOLE 250100 0 PATRICK INDS INC COM 703343103 4536 383729 SH SOLE 351025 32704 PDI INC COM 69329V100 20167 1942828 SH SOLE 1837228 105600 PENTAIR INC COM 709631105 10098 304340 SH SOLE 303390 950 PERMA-FIX ENVIRONMENTAL SVCS COM 714157104 11218 4233245 SH SOLE 3988645 244600 PEROT SYS CORP CL A 714265105 8455 500000 SH SOLE 500000 0 PFIZER INC COM 717081103 12348 505443 SH SOLE 495093 10350 PHOENIX FOOTWEAR GROUP INC COM 71903M100 2640 838150 SH SOLE 838150 0 PLAINS EXPL& PRODTN CO COM 726505100 13372 302400 SH SOLE 300000 2400 PLATO LEARNING INC COM 72764Y100 5691 1505600 SH SOLE 1505600 0 PLEXUS CORP COM 729132100 11761 429250 SH SOLE 428450 800 PMA CAP CORP CL A 693419202 10223 1076100 SH SOLE 1073500 2600 POLYMET MINING CORP COM 731916102 15199 4009000 SH SOLE 4009000 0 PORTEC RAIL PRODS INC COM 736212101 9529 817200 SH SOLE 777700 39500 PPG INDS INC COM 693506107 8228 108905 SH SOLE 108550 355 PRESIDENTIAL LIFE CORP COM 740884101 23092 1361550 SH SOLE 1324000 37550 PRIMEDIA INC COM 74157K846 5616 400000 SH SOLE 400000 0 PRINCETON REVIEW INC COM 742352107 11955 1500000 SH SOLE 1500000 0 QAD INC COM 74727D108 4325 499400 SH SOLE 498500 900 QUANEX CORP COM 747620102 7402 157550 SH SOLE 157450 100 QUEST RESOURCE CORP COM NEW 748349305 16975 1759100 SH SOLE 1658400 100700 QUINTANA MARITIME LTD SHS Y7169G109 35890 1882000 SH SOLE 1850500 31500 QUIXOTE CORP COM 749056107 6188 312500 SH SOLE 312200 300 RCM TECHNOLOGIES INC COM NEW 749360400 6601 1007750 SH SOLE 984850 22900 REGAL ENTMT GROUP CL A 758766109 4814 219300 SH SOLE 219100 200 REGIS CORP MINN COM 758932107 12764 400000 SH SOLE 400000 0 RENASANT CORP COM 75970E107 11120 514080 SH SOLE 511880 2200 RENT A CTR INC NEW COM 76009N100 16861 930015 SH SOLE 898565 31450 REX STORES CORP COM 761624105 1935 100000 SH SOLE 100000 0 RIVERVIEW BANCORP INC COM 769397100 2554 172000 SH SOLE 172000 0 ROSETTA RESOURCES INC COM 777779307 7336 400000 SH SOLE 400000 0 ROYAL CARIBBEAN CRUISES INC COM V7780T103 7056 180785 SH SOLE 179935 850 RPM INTL INC COM 749685103 10813 451495 SH SOLE 449795 1700 SAGA COMMUNICATIONS CL A 786598102 3600 490500 SH SOLE 490500 0 SANDERSON FARMS INC COM 800013104 4325 103780 SH SOLE 103690 90 SANFILIPPO JOHN B & SON INC COM 800422107 2406 294517 SH SOLE 294517 0 SANGAMO BIOSCIENCES INC COM 800677106 35275 2500000 SH SOLE 2500000 0 SCPIE HLDGS INC COM 78402P104 7966 358000 SH SOLE 358000 0 SEAGATE TECHNOLOGY SHS G7945J104 9561 373765 SH SOLE 373015 750 SENESCO TECHNOLOGIES INC COM NEW 817208408 1086 1248833 SH SOLE 1248833 0 SKYWORKS SOLUTIONS INC COM 83088M102 25445 2814685 SH SOLE 2803585 11100 SM&A COM 78465D105 6820 1000000 SH SOLE 1000000 0 SMITHFIELD FOODS INC COM 832248108 11911 378125 SH SOLE 376725 1400 SMURFIT-STONE CONTAINER CORP COM 832727101 3038 260075 SH SOLE 256775 3300 SOUTH FINL GROUP INC COM 837841105 3475 152800 SH SOLE 152500 300 SOUTHERN CMNTY FINL CORP COM 842632101 2078 240261 SH SOLE 240261 0 SOUTHWEST AIRLS CO COM 844741108 10486 708488 SH SOLE 706388 2100 SPANISH BROADCASTING SYS INC CL A 846425882 11644 4513300 SH SOLE 4376700 136600 SPAR GROUP INC COM 784933103 1228 1228000 SH SOLE 1228000 0 SPECIALTY UNDERWRITERS ALLIA COM 84751T309 6306 900800 SH SOLE 846400 54400 SPHERION CORP COM 848420105 12390 1500000 SH SOLE 1500000 0 SRI/SURGICAL EXPRESS INC COM 78464W104 5635 883700 SH SOLE 834000 49700 ST MARY LD & EXPL CO COM 792228108 3567 100000 SH SOLE 100000 0 STAAR SURGICAL CO COM PAR $0.01 852312305 10021 3340250 SH SOLE 3103750 236500 STARTEK INC COM 85569C107 8255 814900 SH SOLE 814000 900 STEC INC COM 784774101 3815 500000 SH SOLE 500000 0 STEPAN CO COM 858586100 3669 118700 SH SOLE 116000 2700 STERIS CORP COM 859152100 5892 215600 SH SOLE 215600 0 STERLING FINL CORP WASH COM 859319105 16297 605595 SH SOLE 605595 0 STONE ENERGY CORP COM 861642106 8038 200900 SH SOLE 200900 0 STRATTEC SEC CORP COM 863111100 4652 100000 SH SOLE 100000 0 SUN MICROSYSTEMS INC COM 866810104 3372 601000 SH SOLE 601000 0 SUNTRUST BKS INC COM 867914103 8584 113440 SH SOLE 112965 475 SUPREME INDS INC CL A 868607102 4146 592300 SH SOLE 592300 0 SWIFT ENERGY CO COM 870738101 48779 1192050 SH SOLE 1170450 21600 SYCAMORE NETWORKS INC COM 871206108 24646 6055600 SH SOLE 5896900 158700 SYNERGX SYSTEMS INC COM 87160C106 970 500000 SH SOLE 500000 0 SYNOVIS LIFE TECHNOLOGIES IN COM 87162G105 6426 297900 SH SOLE 297900 0 TASTY BAKING CO COM 876553306 4287 424900 SH SOLE 424900 0 TECHTEAM GLOBAL INC COM 878311109 12266 1039500 SH SOLE 1038500 1000 THIRD WAVE TECHNOLOGIES INC COM 88428W108 86 10000 SH SOLE 10000 0 TIDEWATER INC COM 886423102 6912 110000 SH SOLE 110000 0 TIER TECHNOLOGIES INC CL A 88650Q100 19878 1948830 SH SOLE 1842380 106450 TIMBERLAND BANCORP INC COM 887098101 1580 100000 SH SOLE 100000 0 TOLL BROTHERS INC COM 889478103 2754 137750 SH SOLE 137600 150 TRC COS INC COM 872625108 7924 750400 SH SOLE 750400 0 TRINITY BIOTECH PLC SPON ADR NEW 896438306 7680 731450 SH SOLE 728550 2900 TRIQUINT SEMICONDUCTOR INC COM 89674K103 22382 4558500 SH SOLE 4371700 186800 TUESDAY MORNING CORP COM NEW 899035505 5996 667000 SH SOLE 667000 0 UGI CORP NEW COM 902681105 10311 396900 SH SOLE 395650 1250 UNION PAC CORP COM 907818108 6403 56630 SH SOLE 56495 135 UNITED STATES NATURAL GAS FUND UNIT 912318102 956 25000 SH SOLE 25000 0 UNUM GROUP COM 91529Y106 8392 342960 SH SOLE 341610 1350 UQM TECHNOLOGIES INC COM 903213106 5392 1457300 SH SOLE 1449300 8000 UROPLASTY INC COM NEW 917277204 4714 1091232 SH SOLE 1091232 0 URS CORP NEW COM 903236107 16935 300000 SH SOLE 300000 0 VISTACARE INC CL A 92839Y109 7033 1075400 SH SOLE 1004700 70700 WAL MART STORES INC COM 931142103 10613 243141 SH SOLE 238341 4800 WAUSAU PAPER CORP COM 943315101 7195 645300 SH SOLE 644700 600 WESCO INTL INC COM 95082P105 5520 128555 SH SOLE 128155 400 WESTELL TECHNOLOGIES INC CL A 957541105 4397 1863317 SH SOLE 1863317 0 WHIRLPOOL CORP COM 963320106 1435 16100 SH SOLE 16100 0 WILLIAMS CLAYTON ENERGY INC COM 969490101 24437 740530 SH SOLE 716780 23750 WIRELESS RONIN TECHNOLOGIES COM 97652A203 6244 925000 SH SOLE 925000 0 WONDER AUTO TECHNOLOGY INC COM 978166106 1548 200000 SH SOLE 200000 0 WSB FINANCIAL GROUP INC COM 92933E108 3375 295000 SH SOLE 295000 0 WYETH COM 983024100 9452 212163 SH SOLE 211413 750 ZAREBA SYSTEMS INC COM 989131107 1543 237000 SH SOLE 237000 0 TOTAL 2499239 TOTAL ENTRIES 289