<PAGE>
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, 1999
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: 790 N. Milwaukee St.
Milwaukee, WI 53202-3712
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: Patrick J. Retzer
Title: Senior Vice President
Phone: 414-347-7777
Signature, Place and Date of Signing:
Patrick J. Retzer Milwaukee, Wisconsin October 29, 1999
- ----------------- -------------------- ----------------
[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: 346
Form 13F Information Table Value Total: $1,746,639
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(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 managers filing this report.
NONE
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FORM 13F INFORMATION TABLE
VALUE SHARES SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (X $(000)) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ACETO CORP COM 004446100 1631 150000SH SOLE 150000 0 0
ACRES GAMING INC COM 004936100 429 286000SH SOLE 286000 0 0
ADVANCED LTG TECHNOLOGIES COM 00753C102 2072 296000SH SOLE 296000 0 0
ADVOCAT INC COM 007586100 334 334500SH SOLE 334500 0 0
ALABAMA NATL BANCORP DELA COM 010317105 2558 110000SH SOLE 110000 0 0
ALIGN-RITE INTL INC COM 016251100 2978 158300SH SOLE 158300 0 0
ALLIANT CORP COM 018802108 1042 37650SH SOLE 32100 0 5550
ALLIED HEALTHCARE PRODS INC COM 019222108 4870 1947800SH SOLE 1947800 0 0
ALLMERICA FINL CORP COM 019754100 279 5868SH SOLE 5868 0 0
ALPINE GROUP INC COM 020825105 19409 1500200SH SOLE 1439600 0 60600
AMCAST INDL CORP COM 023395106 2095 157400SH SOLE 146100 0 11300
AMCOL INTL CORP COM 02341W103 2184 148100SH SOLE 148100 0 0
AMERICAN MED SEC GROUP INC COM 02744P101 10702 1646500SH SOLE 1482600 0 163900
AMERICAN PHYSICIANS SVC GROUP COM 028882108 1675 372200SH SOLE 367200 0 5000
AMWEST INS GROUP INC DEL COM 032345100 3063 315053SH SOLE 315053 0 0
ARCADIA FINL LTD COM 039101100 2245 520600SH SOLE 490600 0 30000
ARROW ELECTRS INC COM 042735100 689 39100SH SOLE 39100 0 0
ASIA PACIFIC WIRE & CABLE CORP COM G0535E106 9219 2418300SH SOLE 2272100 0 146200
ASSOCIATED BANC CORP COM 045487105 14596 403345SH SOLE 400477 0 2868
ASTORIA FINL CORP COM 046265104 285 9300SH SOLE 8350 0 950
ATLANTIC AMERN CORP COM 048209100 862 287500SH SOLE 287500 0 0
AUDIOVOX CORP COM 050757103 6125 350000SH SOLE 350000 0 0
AUTODESK INC COM 052769106 534 24450SH SOLE 24450 0 0
AZTEC TECHNOLOGY PARTNERS INC COM 05480L101 300 175000SH SOLE 175000 0 0
BADGER METER INC COM 056525108 13823 403600SH SOLE 383100 0 20500
BALWIN PIANO & ORGAN CO COM 058246109 5180 727100SH SOLE 727100 0 0
BALWIN TECHNOLOGY INC COM 058264102 1187 500000SH SOLE 500000 0 0
BANDO MCGLOCKLIN CAP CORP COM 060003100 642 74500SH SOLE 74500 0 0
BANK UTD CORP COM 065412108 812 25100SH SOLE 25100 0 0
BARRETT BUSINESS SERVICES INC COM 068463108 8094 1044500SH SOLE 1041500 0 3000
BAY BANCSHARES INC COM 07203N109 2147 126300SH SOLE 126300 0 0
BAY VIEW CAP CORP DEL COM 07262L101 397 30000SH SOLE 10000 0 20000
BENTON OIL & GAS CO COM 083288100 9378 3489800SH SOLE 3378800 0 111000
BEVERLY ENTERPRISES INC COM 087851309 13344 3139800SH SOLE 3000900 0 138900
BIOSOURCE INTL INC COM 09066H104 121 30000SH SOLE 30000 0 0
BITSTREAM INC COM 091736108 1346 582200SH SOLE 582200 0 0
BLIMPIE INTL INC COM 093538106 485 242900SH SOLE 242900 0 0
BLUE WAVE SYS INC COM 096081104 7457 1723100SH SOLE 1579000 0 144100
BOLDER TECHNOLOGIES CORP COM 097519201 2751 85000SH SOLE 85000 0 0
BORDERS GROUP INC COM 099709107 696 47400SH SOLE 47400 0 0
BTG INC COM 05576J101 13163 1784900SH SOLE 1733900 0 51000
BUCKHEAD AMER CORP COM 11835A105 1084 184600SH SOLE 184600 0 0
BUILDING ONE SVCS CORP COM 120114103 671 55127SH SOLE 55127 0 0
BURLINGTON COAT FACTORY COM 121579106 9079 459700SH SOLE 451900 0 7800
BUSINESS RESOURCE GROUP COM 12329K104 2382 635400SH SOLE 554400 0 81000
CAMERON ASHLEY BUILDING PRODS COM 133290106 4500 500000SH SOLE 500000 0 0
CAMPBELL RES INC NEW COM 134422104 3368 9800000SH SOLE 9800000 0 0
CAPITAL CORP OF THE WEST COM 140065103 1807 149100SH SOLE 136500 0 12600
CAPITOL TRANSAMERICA CORP COM 140640103 1414 101000SH SOLE 101000 0 0
CARETENDERS HEALTHCORP COM 141740209 713 387000SH SOLE 387000 0 0
CASH AMER INTL INC COM 14754D100 4532 480300SH SOLE 480300 0 0
CATALINA LTG INC COM 148865108 5924 1436200SH SOLE 1421200 0 15000
CATHERINES STORES CORP COM 14916F100 11414 869700SH SOLE 783300 0 86400
CAVALIER HOMES INC COM 149507105 3553 710760SH SOLE 595760 0 115000
CERES GROUP INC COM 156772105 253 37500SH SOLE 37500 0 0
CHAMPION ENTERPRISES INC COM 158496109 437 48600SH SOLE 48600 0 0
CHC HELICOPTER CORP COM 12541C203 1531 562000SH SOLE 562000 0 0
CHECK TECHNOLOGY CORP COM 162780100 603 210000SH SOLE 210000 0 0
CHERRY CORP COM 164541401 11928 944800SH SOLE 944800 0 0
CHICAGO TITLE CORP COM 168228104 6969 174500SH SOLE 153800 0 20700
CHILDRENS COMPREHENSIVE SVS COM 16875K202 3335 460000SH SOLE 460000 0 0
CHRONIMED INC COM 171164106 8861 1107700SH SOLE 1043700 0 64000
CIPRICO INC COM 172529109 4450 400000SH SOLE 400000 0 0
CKE RESTAURANTS INC SB NT CV 4.25%04 12561EAB1 474 730000PRN SOLE 670000 0 60000
CKE RESTAURANTS INC COM 12561E105 665 91800SH SOLE 88800 0 3000
COHESION TECHNOLOGIES INC COM 19248N101 4500 750000SH SOLE 750000 0 0
COLONIAL PPTYS TR COM 195872106 4618 172650SH SOLE 147750 0 24900
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 250 11800SH SOLE 11800 0 0
COMDIAL CORP COM 200332302 5123 706700SH SOLE 654600 0 52100
COMMERCIAL FEDERAL CORPORATION COM 201647104 18503 942850SH SOLE 896625 0 46225
COMMONWEALTH INDS INC DEL COM 203004106 23376 1739650SH SOLE 1678550 0 61100
COMMUNICATIONS SYS INC COM 203900105 1278 110000SH SOLE 110000 0 0
COOKER RESTAURANT CORP COM 216284208 2503 635700SH SOLE 620700 0 15000
CROWN CENT PETE CORP COM 228219309 5400 900000SH SOLE 900000 0 0
CSP INC COM 126389105 3913 680545SH SOLE 633962 0 46583
CYRK, INC COM 232817106 5699 1030400SH SOLE 907500 0 122900
DATATRAK INTL INC COM 238134100 1929 486100SH SOLE 468628 0 17472
DATRON SYS INC DEL COM 238173108 4288 788700SH SOLE 731700 0 57000
DAVEL COMMUNICATIONS INC COM 238341101 3690 937236SH SOLE 862708 0 74528
DECORATOR INDS INC COM 243631207 1879 349600SH SOLE 349600 0 0
DIAMOND HOME SVCS INC COM 252648100 885 885000SH SOLE 820000 0 65000
DIGI INTL INC COM 253798102 20378 1863150SH SOLE 1800150 0 63000
DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 9805 474000SH SOLE 450000 0 24000
DONNELLY CORP COM 257870105 16881 1200450SH SOLE 1123150 0 77300
DUCKWALL-ALCO STORES INC NEW COM 264142100 4054 491400SH SOLE 483900 0 7500
DYNAMIC MATLS CORP COM 267888105 825 550000SH SOLE 537200 0 12800
EDAP TMS SA COM 268311107 2538 1400500SH SOLE 1306600 0 93900
EL PASO ELEC CO COM 283677854 3602 400300SH SOLE 376600 0 23700
EMC INS GROUP INC COM 268664109 2848 295900SH SOLE 295900 0 0
ENCORE WIRE CORP COM 292562105 2877 317500SH SOLE 317500 0 0
ENGLE HOMES INC COM 292896107 12977 1258400SH SOLE 1172300 0 86100
EQUITY INNS INC COM 294703103 9245 1087700SH SOLE 1013900 0 73800
ESCO ELECTRS CORP COM TR RCPT 269030201 3893 350000SH SOLE 350000 0 0
ESTERLINE TECHNOLOGIES CORP COM 297425100 8583 545000SH SOLE 521100 0 23900
EXABYTE CORP COM 300615101 4897 1127400SH SOLE 1077400 0 50000
EXECUTONE INFORMATION SYS INC COM 301607107 14472 4824200SH SOLE 4623100 0 201100
EZCORP INC COM 302301106 10522 2004300SH SOLE 1871600 0 132700
FAHNESTOCK VINER HLDGS INC COM 302921101 3959 266200SH SOLE 231500 0 34700
FIBERMARK INC COM 315646109 8752 686500SH SOLE 659000 0 27500
FINANCIAL INDS CORP COM 317574101 4648 476800SH SOLE 448500 0 28300
FLEXSTEEL INDS INC COM 339382103 4519 334800SH SOLE 304800 0 30000
FOREST OIL CORP COM 346091606 6183 362400SH SOLE 362400 0 0
FOSTER L B CO COM 350060109 388 80800SH SOLE 80800 0 0
FRANKLIN BK NA SOUTHFIELD MICH COM 352456107 2077 286542SH SOLE 286542 0 0
FREQUENCY ELECTRS INC COM 358010106 411 44500SH SOLE 44500 0 0
FRIEDMAN INDS INC COM 358435105 766 231525SH SOLE 231525 0 0
GA FINL INC COM 361437106 1287 100000SH SOLE 100000 0 0
GALLAGHER ARTHUR J & CO COM 363576109 654 12300SH SOLE 12300 0 0
GEHL CO COM 368483103 8014 451500SH SOLE 433500 0 18000
GENERAL ELEC CO COM 369604103 438 3700SH SOLE 3700 0 0
GENTEK INC COM 37245X104 3412 300000SH SOLE 300000 0 0
GEOSCIENCE CORP COM 373636109 2970 440000SH SOLE 440000 0 0
GUANGSHEN RY LTD COM 40065W107 3125 500000SH SOLE 500000 0 0
GUNDLE/SLT ENVIRONMENTAL INC COM 402809107 2381 793700SH SOLE 793700 0 0
GZA GEOENVIRONMENTAL TECH INC COM 362386104 2338 584500SH SOLE 574500 0 10000
HALLMARK CAP CORP COM 406241109 1127 110000SH SOLE 110000 0 0
HALLMARK FINL SVCS INC EC COM 40624Q104 438 1170600SH SOLE 1170600 0 0
HALLWOOD ENERGY CORPORATION COM 40636X105 10570 1626299SH SOLE 1373711 0 252588
HALLWOOD GROUP INC COM 406364406 2296 131700SH SOLE 131700 0 0
HAMPSHIRE GROUP LTD COM 408859106 2232 248000SH SOLE 248000 0 0
HARDING LAWSON ASSOCS GROUP COM 412293102 4451 565300SH SOLE 565300 0 0
HEALTH MGMT SYS INC COM 42219M100 2446 515000SH SOLE 515000 0 0
HEALTH POWER INC COM 42219G103 1532 766300SH SOLE 766300 0 0
HEALTHRITE INC COM 42221F101 78 420000SH SOLE 420000 0 0
HEALTHSOUTH CORP COM 421924101 318 52300SH SOLE 52300 0 0
HIGH PLAINS CORP COM 429701105 4901 3409900SH SOLE 3379300 0 30600
HMN FINL INC COM 40424G108 3652 298200SH SOLE 298200 0 0
HOLLINGER INTL INC COM 435569108 934 78700SH SOLE 74500 0 4200
HOME FED BANCORP COM 436926109 5733 268250SH SOLE 268250 0 0
HOME PRODS INTL INC COM 437305105 2987 281200SH SOLE 281200 0 0
HOME SECURITY INTERNATIONAL COM 437333107 4569 1555500SH SOLE 1523300 0 32200
HON INDS INC COM 438092108 371 19300SH SOLE 19300 0 0
HOSPITALITY WORLDWIDE SVCS INC COM 44106N100 3981 1384900SH SOLE 1346900 0 38000
HOST MARRIOTT CORP NEW COM 44107P104 600 63200SH SOLE 54200 0 9000
ICN PHARMACEUTICALS INC NEW COM 448924100 78699 4578855SH SOLE 4395375 0 183480
IEC ELECTRS CORP NEW COM 44949L105 6796 2589200SH SOLE 2490200 0 99000
IMC GLOBAL INC COM 449669100 410 28200SH SOLE 27400 0 800
IN HOME HEALTH INC COM 453222408 998 470101SH SOLE 470101 0 0
INDUS INTL INC COM 45578L100 6368 1213100SH SOLE 1213100 0 0
INSTEEL INDUSTRIES INC COM 45774W108 3813 423700SH SOLE 423700 0 0
INTERDIGITAL COMMUNICATIONS CP COM 45866A105 47539 8643500SH SOLE 8286300 0 357200
INTERCONTINENTAL LIFE CORP COM 458593100 5506 550600SH SOLE 530700 0 19900
INTERMET CORP COM 45881K104 5081 600000SH SOLE 600000 0 0
INTERNATIONAL AIRCRAFT INVS COM 458860103 4033 603100SH SOLE 603100 0 0
INTERNATIONAL AIRL SUPPORT GRP COM 458865201 1411 332200SH SOLE 332200 0 0
INTERNATIONAL ALUM CORP COM 458884103 3445 125000SH SOLE 125000 0 0
INTERPORE INTL COM 46062W107 11446 1727800SH SOLE 1638400 0 89400
ITRON INC COM 465741106 1762 300000SH SOLE 300000 0 0
IWERKS ENTMT INC COM 465916104 3394 3394000SH SOLE 3195400 0 198600
JACO ELECTRS INC COM 469783104 3000 857300SH SOLE 857300 0 0
JASON INC COM 471171108 3150 400000SH SOLE 400000 0 0
JEFFERSON SMURFIT GROUP PLC COM 47508W107 659 22500SH SOLE 22500 0 0
JUDGE GROUP INC COM 481271104 859 704900SH SOLE 704900 0 0
K TRON INTL INC COM 482730108 2975 200000SH SOLE 200000 0 0
K V PHARMACEUTICAL CO CL A 482740206 8101 433500SH SOLE 433500 0 0
K2 INC COM 482732104 5834 662100SH SOLE 570100 0 92000
KAYE GROUP INC COM 486589104 3045 363600SH SOLE 363600 0 0
KENNEDY-WILSON INC COM 489399204 2430 261000SH SOLE 226000 0 35000
KENT ELECTRS CORP SUB NT CV 4.5%04 490553AA2 1695 2198000PRN SOLE 2198000 0 0
KENTUCKY ELEC STL INC COM 49127B100 2212 655500SH SOLE 655500 0 0
KERR MCGEE CORP SUB DB CV 7.5%14 492386AL1 104 107000PRN SOLE 107000 0 0
LACROSSE FOOTWEAR INC COM 505688101 2750 500000SH SOLE 500000 0 0
LADD FURNITURE INC COM 505739201 2118 100000SH SOLE 100000 0 0
LAKES GAMING INC COM 51206P109 1656 172100SH SOLE 155775 0 16325
LANDRYS SEAFOOD RESTAURANTS COM 51508L103 5091 636450SH SOLE 621450 0 15000
LECHTERS CORP COM 523238103 1597 824700SH SOLE 824700 0 0
LENNAR CORP COM 526057104 655 41150SH SOLE 41150 0 0
LINDAL CEDAR HOMES INC COM 535130108 957 425400SH SOLE 425400 0 0
LIZ CLAIBORNE COM 539320101 387 12500SH SOLE 12500 0 0
LONDON PAC GROUP LTD COM 542073101 30815 1408700SH SOLE 1302000 0 106700
LSI INDS INC COM 50216C108 5146 225000SH SOLE 225000 0 0
LUFKIN INDS INC COM 549764108 7262 476200SH SOLE 476200 0 0
M-WAVE INC COM 554034108 860 475000SH SOLE 475000 0 0
M A R C INC COM 552914103 2131 150900SH SOLE 150900 0 0
M D C HLDGS INC COM 552676108 4025 248700SH SOLE 248700 0 0
M/I SCHOTTENSTEIN HOMES INC COM 55305B101 5672 343800SH SOLE 321300 0 22500
MAF BANCORP INC COM 55261R108 1056 53139SH SOLE 53139 0 0
MAGAL SECURITY SYS LTD COM M6786D104 2132 650000SH SOLE 650000 0 0
MANCHESTER EQUIP INC COM 562154104 918 300000SH SOLE 300000 0 0
MANPOWER INC COM 56418H100 1135 39000SH SOLE 37200 0 1800
MARCUS CORP COM 566330106 2714 225000SH SOLE 225000 0 0
MARTEN TRANS LTD COM 573075108 4715 410075SH SOLE 367800 0 42275
MARTIN INDS INC DEL COM 57326K102 900 450000SH SOLE 450000 0 0
MASSBANK CORP READ MASS COM 576152102 4939 138398SH SOLE 138398 0 0
MATERIAL SCIENCES CORP COM 576674105 4431 332900SH SOLE 332900 0 0
MATRIX PHARMACEUTICAL INC COM 576844104 7080 1245000SH SOLE 1245000 0 0
MATRIX SVC CO COM 576853105 2400 600000SH SOLE 600000 0 0
MAXICARE HEALTH PLANS INC COM 577904204 16526 3525700SH SOLE 3445700 0 80000
MCDERMOTT INTL INC COM 580037109 1223 60400SH SOLE 60400 0 0
MEADOW VY CORP COM 583185103 2184 499300SH SOLE 430300 0 69000
MEDICAL GRAPHICS CORP COM 584907109 1255 680700SH SOLE 680700 0 0
MENTOR CORP MINN COM 587188103 14349 503500SH SOLE 501400 0 2100
MFRI INC COM 552721102 5317 1090700SH SOLE 1090700 0 0
MICROTEST INC COM 594941106 2103 580300SH SOLE 580300 0 0
MICROTOUCH SYS INC COM 595145103 3796 225000SH SOLE 225000 0 0
MIDWEST EXPRESS HLDGS INC COM 597911106 759 29000SH SOLE 29000 0 0
MINING SVCS INTL CORP COM 603665209 750 250000SH SOLE 250000 0 0
MINNTECH CORP COM 604258103 13765 1342950SH SOLE 1265600 0 77350
MMI COS INC COM 553087107 7958 727600SH SOLE 726200 0 1400
MODIS PROFESSIONAL SVCS INC COM 607830106 1208 91200SH SOLE 86550 0 4650
MOORE MED CORP COM 615799103 3343 437200SH SOLE 407700 0 29500
MOTOR CLUB AMER COM 619823107 1715 171500SH SOLE 171500 0 0
MYR GROUP INC COM 554053108 20279 901333SH SOLE 890333 0 11000
NABI COM 628716102 19333 3727000SH SOLE 3517900 0 209100
NAPCO SEC SYS INC COM 630402105 313 81000SH SOLE 81000 0 0
NATIONAL HOME HEALTH CARE CORP COM 636380107 1484 380000SH SOLE 380000 0 0
NEOMAGIC CORP COM 640497103 3541 457000SH SOLE 457000 0 0
NETWORK EQUIP TECHNOLOGIES COM 641208103 17001 1850500SH SOLE 1709200 0 141300
NETWORKS NORTH INC COM 641220108 271 135700SH SOLE 135700 0 0
NEW BRUNSWICK SCIENTIFIC INC COM 642876106 217 35800SH SOLE 35800 0 0
NORSTAN INC COM 656535101 15222 1902750SH SOLE 1787550 0 115200
NORTHLAND CRANBERRIES INC COM 666499108 2253 345000SH SOLE 345000 0 0
NOVAMERICAN STL INC COM 669959108 2926 257300SH SOLE 257300 0 0
NU HORIZONS ELECTRS CORP COM 669908105 5600 700000SH SOLE 700000 0 0
NUMAC ENERGY INC COM 67052A103 10477 2825100SH SOLE 2760400 0 64700
O I CORP COM 670841105 1408 326500SH SOLE 326500 0 0
OIL DRI CORP AMER COM 677864100 13828 949600SH SOLE 871300 0 78300
ONTRACK DATA INTL INC COM 683372106 459 83000SH SOLE 83000 0 0
ONTRO INC COM 683380109 468 250000SH SOLE 250000 0 0
ORTHOLOGIC CORP COM 68750J107 16791 5597200SH SOLE 5250100 0 347100
OSMONICS INC COM 688350107 14507 1373500SH SOLE 1356200 0 17300
OUTLOOK GROUP CORP COM 690113105 4621 1103700SH SOLE 1103700 0 0
OWENS CORNING COM 69073F103 225 10400SH SOLE 10400 0 0
PARLEX CORP COM 701630105 1741 113300SH SOLE 113300 0 0
PATRICK INDS INC COM 703343103 9940 783500SH SOLE 729000 0 54500
PBOC HLDGS INC COM 69316G108 8442 1039100SH SOLE 937600 0 101500
PENTECH INTL INC COM 709635106 890 749900SH SOLE 749900 0 0
PERRIGO CO COM 714290103 13039 1655800SH SOLE 1560900 0 94900
PETSEC ENERGY LTD COM 715796108 815 870000SH SOLE 870000 0 0
PICO HLDGS INC COM 693366205 6839 319040SH SOLE 316640 0 2400
PIER 1 IMPORTS INC COM 720279108 711 108400SH SOLE 98100 0 10300
PLANAR SYS INC COM 726900103 4932 758900SH SOLE 758900 0 0
POINT FINANCIAL CORP COM 73084P100 1031 100000SH SOLE 100000 0 0
POLAROID CORP COM 731095105 681 26200SH SOLE 26200 0 0
POWELL INDS INC COM 739128106 8513 987100SH SOLE 886100 0 101000
PRECISION CASTPARTS CORP COM 740189105 1094 35900SH SOLE 35900 0 0
PRECISION DRILLING CORP COM 74022D100 1615 69650SH SOLE 63450 0 6200
PREMARK INTL INC COM 740459102 868 17200SH SOLE 17200 0 0
PREMIUMWEAR INC COM 740909106 987 200000SH SOLE 200000 0 0
PRESIDENTIAL LIFE CORP COM 740884101 17125 1000000SH SOLE 1000000 0 0
PRICE ENTERPRISES INC COM 741444301 217 14500SH SOLE 14500 0 0
PRIME HOSPITALITY CORP COM 741917108 306 38300SH SOLE 38300 0 0
PRIME RETAIL INC COM 741570105 343 46550SH SOLE 46550 0 0
PROFESSIONALS GROUP INC COM 742954100 9451 378077SH SOLE 378077 0 0
PROVIDENCE & WORCESTER RR CO COM 743737108 2125 200000SH SOLE 200000 0 0
PXRE CORP COM G73018106 14747 1012702SH SOLE 970159 0 42543
RAINBOW TECHNOLOGIES INC COM 750862104 6339 483000SH SOLE 446400 0 36600
RAINFOREST CAFE INC COM 75086K104 4085 769000SH SOLE 769000 0 0
RAMSAY YOUTH SVCS INC COM 75158K206 2303 695400SH SOLE 695400 0 0
RAYTEL MED CORP COM 755107109 2438 897000SH SOLE 897000 0 0
RCM TECHNOLOGIES INC COM NEW 749360400 129 12000SH SOLE 10000 0 2000
REHABILICARE INC COM 758944102 1248 312100SH SOLE 312100 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 7402 352500SH SOLE 352500 0 0
REMINGTON OIL & GAS CORP COM 759594302 20976 3688175SH SOLE 3474875 0 213300
RENAISSANCE RE HLDGS LT COM G7496G103 8671 250000SH SOLE 250000 0 0
REPUBLIC BANCORP INC COM 760282103 13086 1131794SH SOLE 1116179 0 15615
RIGHTCHOICE MANAGED CARE INC COM 76657K101 15434 1461250SH SOLE 1363150 0 98100
RIVIERA TOOL CO COM 769648106 1504 370250SH SOLE 370250 0 0
ROTTLUND INC COM 779077106 1584 589600SH SOLE 582400 0 7200
RUSH ENTERPRISES INC COM 781846100 3671 235000SH SOLE 235000 0 0
RYANS FAMILY STEAK HOUSE INC COM 783519101 4365 485000SH SOLE 485000 0 0
RYDER SYS INC COM 783549108 503 24700SH SOLE 24700 0 0
SALIENT 3 COMMUNICATIONS INC COM 794721100 2150 400000SH SOLE 400000 0 0
SANFILIPPO JOHN B & SON INC COM 800422107 1437 500000SH SOLE 500000 0 0
SANTA FE INTL CORP COM G7805C108 627 29100SH SOLE 29100 0 0
SANTA FE SNYDER CORP COM 80218K105 341 37900SH SOLE 37900 0 0
SAUCONY INC COM 804120202 9894 628200SH SOLE 623200 0 5000
SCAN OPTICS INC COM 805894102 1914 680700SH SOLE 638300 0 42400
SCHEIN HENRY INC COM 806407102 2280 160000SH SOLE 160000 0 0
SCPIE HLDGS INC COM 78402P104 8564 271900SH SOLE 271300 0 600
SEIBELS BRUCE GROUP INC COM 816006209 1950 650000SH SOLE 650000 0 0
SHILOH INDS INC COM 824543102 4771 433750SH SOLE 413750 0 20000
SHOLODGE INC COM 825034101 3113 530000SH SOLE 530000 0 0
SHOLODGE INC SBDB CONV 7.5%04 825034AA9 5668 9292000PRN SOLE 8907000 0 385000
SHOPKO STORES INC COM 824911101 21880 754500SH SOLE 738300 0 16200
SHUFFLE MASTER INC COM 825549108 247 30000SH SOLE 30000 0 0
SIFCO INDS INC COM 826546103 1400 200000SH SOLE 200000 0 0
SITEL CORP COM 82980K107 3785 890800SH SOLE 835700 0 55100
SIX RIVS NATL BK EUREKA CA COM 830059101 1154 93300SH SOLE 93300 0 0
SOUTHERN ENERGY HOMES INC COM 842814105 8242 3139900SH SOLE 2871800 0 268100
SOUTHWESTERN ENERGY CO COM 845467109 21839 2409900SH SOLE 2224800 0 185100
SPACEHAB INC COM 846243103 1950 400000SH SOLE 400000 0 0
SPACELABS MED INC COM 846247104 6511 430500SH SOLE 430500 0 0
SPEIZMAN INDS INC COM 847805108 1275 300000SH SOLE 300000 0 0
ST FRANCIS CAP CORP COM 789374105 4626 225000SH SOLE 225000 0 0
STEEL TECHNOLOGIES COM 858147101 2857 245800SH SOLE 245800 0 0
STEELCASE INC CL A 858155203 299 33200SH SOLE 33200 0 0
STERIS CORP COM 859152100 7753 563900SH SOLE 563900 0 0
STERLING FINL CORP WASH COM 859319105 5356 400500SH SOLE 380500 0 20000
STERLING SOFTWARE INC COM 859547101 1407 70370SH SOLE 70370 0 0
STIFEL FINL CORP COM 860630102 1876 210000SH SOLE 210000 0 0
STORAGE TECHNOLOGY CORP COM 862111200 1194 61910SH SOLE 61910 0 0
STRATEGIC DIAGNOSTICS INC COM 862700101 2265 250000SH SOLE 250000 0 0
STRATTEC SEC CORP COM 863111100 14840 424000SH SOLE 417200 0 6800
STRUCTURAL DYNAMICS RESH CORP COM 863555108 470 31300SH SOLE 31300 0 0
SUMMIT BK CORP GA COM 866013105 535 36900SH SOLE 36900 0 0
SUN HEALTHCARE GROUP INC SD CV 144A 6%04 866933AA2 75 595000PRN SOLE 520000 0 75000
SUNRISE MED INC COM 867910101 3957 659600SH SOLE 659600 0 0
SYBASE INC COM 871130100 11895 1007000SH SOLE 1007000 0 0
TAB PRODS CO DEL COM 873197107 3731 694300SH SOLE 694300 0 0
TECH SYM CORP COM 878308105 23574 1197450SH SOLE 1115450 0 82000
TECHNOLOGY RESH CORP COM 878727304 509 339500SH SOLE 339500 0 0
TELECOMUNICACOES BRASILEIRAS S COM 879287308 1199 16150SH SOLE 15050 0 1100
TELTREND INC COM 87969R106 19239 950100SH SOLE 908400 0 41700
TENET HEALTHCARE CORP COM 88033G100 384 21900SH SOLE 21900 0 0
TESORO PETE CORP COM 881609101 14845 899700SH SOLE 899700 0 0
TETRA TECHNOLOGIES INC DEL COM 88162F105 1018 100000SH SOLE 100000 0 0
TEXAS INDS INC COM 882491103 588 15900SH SOLE 15900 0 0
TODHUNTER INTL INC DEL COM 889050100 4471 490000SH SOLE 490000 0 0
TOPPS INC COM 890786106 5227 697000SH SOLE 697000 0 0
TOYS R US INC COM 892335100 244 16300SH SOLE 16300 0 0
TRANSCOASTAL MARINE SERVICES COM 893537100 6014 1046000SH SOLE 1046000 0 0
TRIMARK HLDGS INC COM 89621J100 385 112200SH SOLE 112200 0 0
U S GLOBAL INVS INC COM 902952100 900 600000SH SOLE 600000 0 0
U S HOME CORP NEW COM 911920106 11375 409000SH SOLE 408000 0 1000
UAL CORP COM 902549500 679 10400SH SOLE 10400 0 0
UNION PAC CORP COM 907818108 1009 21000SH SOLE 19950 0 1050
UNIONBANCORP INC COM 908908106 2360 130700SH SOLE 130700 0 0
UNISOURCE ENERGY CORP COM 909205106 34791 2945350SH SOLE 2760350 0 185000
UNITED INVS RLTY TR COM 910741107 3585 496700SH SOLE 482700 0 14000
UNITED SEC BANCORPORATION WASH COM 91146A101 3093 206211SH SOLE 206211 0 0
UNITED WIS SVCS INC NEW COM 913238101 4142 662800SH SOLE 639900 0 22900
UNIVERSAL STAINLESS & ALLOY COM 913837100 1000 200000SH SOLE 200000 0 0
UROCOR INC COM 91727P105 3534 863300SH SOLE 863300 0 0
URS CORP NEW COM 903236107 24124 984679SH SOLE 949279 0 35400
VERDANT BRANDS INC COM 923366207 819 262200SH SOLE 262200 0 0
VETERINARY CTRS AMER INC COM 925514101 5158 451000SH SOLE 451000 0 0
VICORP RESTAURANTS INC COM 925817108 4950 300000SH SOLE 300000 0 0
WALDEN RESIDENTIAL PPTYS INC COM 931210108 2048 93900SH SOLE 75600 0 18300
WALL DATA INC COM 932045107 3759 699500SH SOLE 699500 0 0
WASHINGTON HOMES INC NEW COM 938864105 2715 517300SH SOLE 479800 0 37500
WEBCO INDS INC COM 947621108 881 300000SH SOLE 300000 0 0
WELLMAN INC COM 949702104 652 36100SH SOLE 36100 0 0
WESTON ROY F INC COM 961137106 2517 1006900SH SOLE 1006900 0 0
WEYCO GROUP INC COM 962149100 3871 177000SH SOLE 177000 0 0
WILLBROS GROUP INC COM 969199108 4309 604900SH SOLE 538700 0 66200
WILLIAMS CLAYTON ENERGY INC COM 969490101 4812 350000SH SOLE 350000 0 0
WILSONS THE LEATHER EXPERTS COM 972463103 5864 366500SH SOLE 346500 0 20000
WINSTON HOTELS INC COM 97563A102 2147 242000SH SOLE 226600 0 15400
WINSTON RES INC COM 975661109 1278 280200SH SOLE 257700 0 22500
WORLD ACCEP CORP DEL COM 981419104 2150 400000SH SOLE 400000 0 0
WRP CORP COM 929317105 1690 483000SH SOLE 473200 0 9800
WYMAN GORDON CO COM 983085101 3518 188300SH SOLE 188300 0 0
XL CAP LTD COM G98255105 753 16754SH SOLE 16754 0 0
XOMA Inc. COM G9825R107 3060 1042000SH SOLE 1032000 0 10000
ZALE CORP NEW COM 988858106 356 9300SH SOLE 9300 0 0
ZINDART LTD COM 989597109 14028 1986400SH SOLE 1836800 0 149600
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 1746639
TOTAL ENTRIES 346
</TABLE>
