<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: December 31, 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: 789 N. Water St.
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: Patrick J. Retzer
Title: Senior Vice President
Phone: 414-347-7777
Signature, Place and Date of Signing:
Patrick J. Retzer Milwaukee, Wisconsin February 16, 2000
- ----------------- -------------------- -----------------
[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).)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
-----------
Form 13F Information Table Entry Total: 328
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Form 13F Informatioin Table Value Total: $ 2,108,096
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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 manager filing this report.
NONE
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
VALUE SHARES SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (X $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
3DFX INTERACTIVE INC COM 88553X103 3925 400000 SH SOLE 400000 0 0
ACETO CORP COM 4446100 1650 150000 SH SOLE 150000 0 0
ALABAMA NATL BANCORP DELA COM 10317105 2076 110000 SH SOLE 110000 0 0
ALBEMARLE CORP COM 12653101 303 15800 SH SOLE 15800 0 0
ALLIANT CORP COM 18802108 976 35500 SH SOLE 29950 0 5550
ALLIED HEALTHCARE PRODS INC COM 19222108 4626 1947800 SH SOLE 1947800 0 0
ALLSTATE CORP COM 20002101 293 12200 SH SOLE 12200 0 0
ALPINE GROUP INC COM 20825105 18913 1468948 SH SOLE 1414348 0 54600
AMBASSADORS INTL CORP COM 23178106 4375 400000 SH SOLE 388300 0 11700
AMCAST INDL CORP COM 23395106 2374 145000 SH SOLE 133700 0 11300
AMCOL INTL CORP COM 02341W103 2388 148100 SH SOLE 148100 0 0
AMERCO COM 23586100 4740 189600 SH SOLE 189600 0 0
AMERICAN MED SEC GROUP INC COM 02744P101 9818 1636400 SH SOLE 1454600 0 181800
AMERICAN PHYSICIANS SVC GROUP COM 28882108 1384 375200 SH SOLE 370200 0 5000
AMERUS LIFE HLDGS INC COM 30732101 1175 51100 SH SOLE 49300 0 1800
AMWEST INS GROUP INC DEL COM 32345100 2362 325810 SH SOLE 325810 0 0
ANSYS INC COM 03662Q105 8111 737375 SH SOLE 691925 0 45450
ARCH CHEMICALS INC COM 03937R102 4881 233100 SH SOLE 229000 0 4100
ARROW ELECTRS INC COM 42735100 292 11500 SH SOLE 11500 0 0
ASIA PACIFIC WIRE & CABLE CORP COM G0535E106 10015 2465300 SH SOLE 2308400 0 156900
ASSOCIATED BANC CORP COM 45487105 13716 400477 SH SOLE 400477 0 0
ASTEC INDS INC COM 46224101 884 47000 SH SOLE 43900 0 3100
ASTORIA FINL CORP COM 46265104 268 8800 SH SOLE 8800 0 0
AT HOME CORP COM 45919107 1233 28750 SH SOLE 25950 0 2800
ATLANTIC AMERN CORP COM 48209100 665 287500 SH SOLE 287500 0 0
AUTODESK INC COM 52769106 2952 87475 SH SOLE 81775 0 5700
AVTEAM INC COM 54527205 1280 238200 SH SOLE 238200 0 0
BADGER METER INC COM 56525108 12872 427300 SH SOLE 405800 0 21500
BALWIN PIANO & ORGAN CO COM 58246109 6180 727100 SH SOLE 727100 0 0
BANDO MCGLOCKLIN CAP CORP COM 60003100 712 81950 SH SOLE 81950 0 0
BANK UTD CORP COM 65412108 605 22200 SH SOLE 22200 0 0
BARRETT BUSINESS SERVICES INC COM 68463108 8502 1283300 SH SOLE 1229700 0 53600
BAY BANCSHARES INC COM 07203N109 1725 96500 SH SOLE 96500 0 0
BAY VIEW CAP CORP DEL COM 07262L101 1512 106600 SH SOLE 71600 0 35000
BENTON OIL & GAS CO COM 83288100 8109 4185500 SH SOLE 3867300 0 318200
BEVERLY ENTERPRISES INC COM 87851309 19798 4525300 SH SOLE 4249800 0 275500
BIO RAD LABS INC CL A 90572207 1145 49000 SH SOLE 49000 0 0
BLIMPIE INTL INC COM 93538106 619 330000 SH SOLE 330000 0 0
BLUE WAVE SYS INC COM 96081104 7179 776100 SH SOLE 712500 0 63600
BORDERS GROUP INC COM 99709107 320 19700 SH SOLE 19700 0 0
BTG INC COM 05576J101 14787 1819900 SH SOLE 1766900 0 53000
BUCKHEAD AMER CORP COM 11835A105 1027 184600 SH SOLE 184600 0 0
BURLINGTON COAT FACTORY COM 121579106 3094 223000 SH SOLE 223000 0 0
BURNS INTL SVCS CORP COM 122374101 1660 153500 SH SOLE 153500 0 0
BUSINESS RESOURCE GROUP COM 12329K104 3512 661100 SH SOLE 579400 0 81700
CAMERON ASHLEY BUILDING PRODS COM 133290106 5000 500000 SH SOLE 500000 0 0
CAPITAL CORP OF THE WEST COM 140065103 1454 149100 SH SOLE 136500 0 12600
CAPITOL TRANSAMERICA CORP COM 140640103 1016 101000 SH SOLE 101000 0 0
CARETENDERS HEALTHCORP COM 141740209 695 308900 SH SOLE 308900 0 0
CATALINA LTG INC COM 148865108 6695 1391200 SH SOLE 1391200 0 0
CAVALIER HOMES INC COM 149507105 2789 708260 SH SOLE 593260 0 115000
CELLSTAR CORP COM 150925105 6782 686800 SH SOLE 678600 0 8200
CHC HELICOPTER CORP COM 12541C203 1468 562000 SH SOLE 562000 0 0
CHERRY CORP COM 164541401 10092 949800 SH SOLE 949800 0 0
CHILDRENS COMPREHENSIVE SVS COM 16875K202 2588 460000 SH SOLE 460000 0 0
CHRONIMED INC COM 171164106 10456 1360100 SH SOLE 1296100 0 64000
CIPRICO INC COM 172529109 4343 375600 SH SOLE 369000 0 6600
CKE RESTAURANTS INC SB NT CV 4.25%04 12561EAB1 360 680000 PRN SOLE 595000 0 85000
WILLIAMS CLAYTON ENERGY INC COM 969490101 3558 301200 SH SOLE 301200 0 0
COLONIAL PPTYS TR COM 195872106 3760 162150 SH SOLE 136050 0 26100
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 346 11800 SH SOLE 11800 0 0
COMDIAL CORP COM 200332302 6599 664000 SH SOLE 621900 0 42100
COMMERCIAL FEDERAL CORPORATION COM 201647104 24066 1351075 SH SOLE 1283500 0 67575
COMMONWEALTH INDS INC DEL COM 203004106 19512 1500950 SH SOLE 1430950 0 70000
COMMUNICATIONS SYS INC COM 203900105 1430 110000 SH SOLE 110000 0 0
CONSOLIDATED FREIGHTWAYS CORP COM 209232107 3969 500000 SH SOLE 500000 0 0
COOPER TIRE & RUBR CO COM 216831107 605 38600 SH SOLE 38600 0 0
CROWN CENT PETE CORP COM 228219309 4725 900000 SH SOLE 900000 0 0
CYRK, INC COM 232817106 11548 972500 SH SOLE 890900 0 81600
DANKA BUSINESS SYS PLC SUBNT CV 6.75%02 236277AB5 16 20000 PRN SOLE 19333 0 667
DATATRAK INTL INC COM 238134100 1754 483789 SH SOLE 465142 0 18647
DATRON SYS INC DEL COM 238173108 6589 775200 SH SOLE 718200 0 57000
DAVEL COMMUNICATIONS INC COM 238341101 4204 885156 SH SOLE 827118 0 58038
DECORATOR INDS INC COM 243631207 1857 349600 SH SOLE 349600 0 0
DIGI INTL INC COM 253798102 15053 1442200 SH SOLE 1384500 0 57700
DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 9910 414000 SH SOLE 400000 0 14000
DONNELLY CORP COM 257870105 20377 1455500 SH SOLE 1361700 0 93800
DUCKWALL-ALCO STORES INC NEW COM 264142100 3780 495800 SH SOLE 495800 0 0
DUKE ENERGY CORP COM 264399106 241 4800 SH SOLE 4800 0 0
DYNAMIC MATLS CORP COM 267888105 638 537200 SH SOLE 537200 0 0
ECLIPSE SURGICAL TECHNOLOGIES COM 278849104 1475 200000 SH SOLE 200000 0 0
EDAP TMS SA COM 268311107 1876 1364100 SH SOLE 1270200 0 93900
EL PASO ELEC CO COM 283677854 3119 317900 SH SOLE 306900 0 11000
ELOT INC COM 290143106 36346 6684400 SH SOLE 6319100 0 365300
EMC INS GROUP INC COM 268664109 1665 182500 SH SOLE 182500 0 0
ENCORE WIRE CORP COM 292562105 2455 322000 SH SOLE 322000 0 0
ENGLE HOMES INC COM 292896107 15109 1259100 SH SOLE 1177000 0 82100
EQUITY INNS INC COM 294703103 8360 1238570 SH SOLE 1166770 0 71800
ESCO ELECTRS CORP COM 269030201 4069 350000 SH SOLE 350000 0 0
ESTERLINE TECHNOLOGIES CORP COM 297425100 6970 602800 SH SOLE 575000 0 27800
EXABYTE CORP COM 300615101 9160 1221300 SH SOLE 1167600 0 53700
EZCORP INC COM 302301106 8350 2055500 SH SOLE 1940100 0 115400
FAHNESTOCK VINER HLDGS INC COM 302921101 3976 266200 SH SOLE 231500 0 34700
FEDERAL SIGNAL CORP COM 313855108 177 11000 SH SOLE 11000 0 0
FIBERMARK INC COM 315646109 8031 683500 SH SOLE 662450 0 21050
FINANCIAL INDS CORP COM 317574101 5001 500100 SH SOLE 467500 0 32600
FIRST AMERN FINL CORP COM 318522307 297 23900 SH SOLE 23900 0 0
FLEXSTEEL INDS INC COM 339382103 4609 344600 SH SOLE 304800 0 39800
FOREST OIL CORP COM 346091606 4384 332400 SH SOLE 332400 0 0
FRANKLIN BK NA SOUTHFIELD MICH COM 352456107 2715 283917 SH SOLE 283917 0 0
FRIEDMAN INDS INC COM 358435105 781 231525 SH SOLE 231525 0 0
GA FINL INC COM 361437106 1325 100000 SH SOLE 100000 0 0
GEHL CO COM 368483103 8127 451500 SH SOLE 433500 0 18000
GENERAL ELEC CO COM 369604103 573 3700 SH SOLE 3700 0 0
GLOBAL CROSSING LTD COM G3921A100 1173 23450 SH SOLE 22650 0 800
GOODRICH B F CO COM 382388106 641 23300 SH SOLE 23300 0 0
GUANGSHEN RY LTD COM 40065W107 2781 500000 SH SOLE 500000 0 0
GUNDLE/SLT ENVIRONMENTAL INC COM 402809107 2778 793700 SH SOLE 793700 0 0
GZA GEOENVIRONMENTAL TECH INC COM 362386104 2630 584500 SH SOLE 574500 0 10000
HALLMARK CAP CORP COM 406241109 990 110000 SH SOLE 110000 0 0
HALLMARK FINL SVCS INC EC COM 40624Q104 439 1170600 SH SOLE 1170600 0 0
HALLWOOD ENERGY CORPORATION COM 40636X105 7093 1621259 SH SOLE 1398184 0 223075
HALLWOOD GROUP INC COM 406364406 2431 199450 SH SOLE 199450 0 0
HAMPSHIRE GROUP LTD COM 408859106 2261 254800 SH SOLE 254800 0 0
HARDING LAWSON ASSOCS GROUP COM 412293102 4375 564500 SH SOLE 564500 0 0
HEALTH MGMT SYS INC COM 42219M100 5432 860500 SH SOLE 776800 0 83700
HEALTH POWER INC COM 42219G103 1293 766300 SH SOLE 766300 0 0
HEALTHSOUTH CORP COM 421924101 641 119300 SH SOLE 119300 0 0
SCHEIN HENRY INC COM 806407102 27618 2074600 SH SOLE 1938100 0 136500
HIGH PLAINS CORP COM 429701105 6624 3474900 SH SOLE 3469300 0 5600
HMN FINL INC COM 40424G108 3321 295200 SH SOLE 295200 0 0
HOME FED BANCORP COM 436926109 6036 268250 SH SOLE 268250 0 0
HOME PRODS INTL INC COM 437305105 2888 278400 SH SOLE 278400 0 0
HOME SECURITY INTERNATIONAL COM 437333107 3004 924200 SH SOLE 924200 0 0
HOST MARRIOTT CORP NEW COM 44107P104 1512 183300 SH SOLE 163800 0 19500
Hotelworks.com Inc COM 441473105 8320 1664000 SH SOLE 1577000 0 87000
HURCO COMPANIES INC COM 447324104 35 10000 SH SOLE 10000 0 0
HUTCHINSON TECHNOLOGY INC COM 448407106 2723 128150 SH SOLE 126550 0 1600
ICN PHARMACEUTICALS INC NEW COM 448924100 111461 4403391 SH SOLE 4238561 0 164830
ICTS INTERNATIONAL NV COM N43837108 6034 965500 SH SOLE 920100 0 45400
IEC ELECTRS CORP NEW COM 44949L105 6052 2548200 SH SOLE 2478400 0 69800
IMC GLOBAL INC COM 449669100 1387 84700 SH SOLE 77200 0 7500
IN HOME HEALTH INC COM 453222408 999 470101 SH SOLE 470101 0 0
INDUS INTL INC COM 45578L100 20786 1705500 SH SOLE 1679900 0 25600
INSTEEL INDUSTRIES INC COM 45774W108 3625 400000 SH SOLE 400000 0 0
INTERCONTINENTAL LIFE CORP COM 458593100 5093 550600 SH SOLE 530700 0 19900
INTERDIGITAL COMMUNICATIONS CP COM 45866A105 253845 3384600 SH SOLE 3249100 0 135500
INTERIN SVCS INC COM 45868P100 394 15900 SH SOLE 12700 0 3200
INTERMET CORP COM 45881K104 8138 700000 SH SOLE 700000 0 0
INTERNATIONAL AIRCRAFT INVS COM 458860103 3769 603100 SH SOLE 603100 0 0
INTERNATIONAL AIRL SUPPORT GRP COM 458865201 1215 332200 SH SOLE 332200 0 0
INTERNATIONAL ALUM CORP COM 458884103 2895 123200 SH SOLE 123200 0 0
INTERPORE INTL COM 46062W107 13780 1749800 SH SOLE 1657800 0 92000
INVIVO CORP COM 461858102 1580 130300 SH SOLE 130300 0 0
ITRON INC COM 465741106 3353 547500 SH SOLE 547500 0 0
IWERKS ENTMT INC COM 465916104 2438 3392000 SH SOLE 3193400 0 198600
JACO ELECTRS INC COM 469783104 4468 861300 SH SOLE 861300 0 0
JASON INC COM 471171108 2900 400000 SH SOLE 400000 0 0
JEFFERSON SMURFIT GROUP PLC COM 47508W107 653 22500 SH SOLE 22500 0 0
SANFILIPPO JOHN B & SON INC COM 800422107 2000 500000 SH SOLE 500000 0 0
JUDGE GROUP INC COM 481271104 920 639700 SH SOLE 639700 0 0
K TRON INTL INC COM 482730108 2700 200000 SH SOLE 200000 0 0
K2 INC COM 482732104 8041 1054500 SH SOLE 924500 0 130000
KAYE GROUP INC COM 486589104 3045 363600 SH SOLE 363600 0 0
KENNEDY-WILSON INC COM 489399204 2141 267600 SH SOLE 232600 0 35000
KENT ELECTRS CORP SUB NT CV 4.5%04 490553AA2 203 245000 PRN SOLE 244495 0 505
KENTUCKY ELEC STL INC COM 49127B100 811 341500 SH SOLE 308500 0 33000
KONINKLIJKE PHILIPS ELECTRS NV SPON ADR NEW 500472204 455 3368 SH SOLE 3368 0 0
K V PHARMACEUTICAL CO CL A 482740206 9510 433500 SH SOLE 433500 0 0
LACROSSE FOOTWEAR INC COM 505688101 2219 500000 SH SOLE 500000 0 0
LAFARGE CORP COM 505862102 558 20200 SH SOLE 20200 0 0
LAKES GAMING INC COM 51206P109 2010 253250 SH SOLE 228525 0 24725
LANDRYS SEAFOOD RESTAURANTS COM 51508L103 5210 599700 SH SOLE 584700 0 15000
LENNAR CORP COM 526057104 379 23300 SH SOLE 23300 0 0
LINDAL CEDAR HOMES INC COM 535130108 777 345400 SH SOLE 345400 0 0
LIZ CLAIBORNE COM 539320101 470 12500 SH SOLE 12500 0 0
LONDON PAC GROUP LTD COM 542073101 40179 1116076 SH SOLE 1030950 0 85126
LSI INDS INC COM 50216C108 4758 220000 SH SOLE 220000 0 0
LUFKIN INDS INC COM 549764108 9225 615000 SH SOLE 602800 0 12200
M/I SCHOTTENSTEIN HOMES INC COM 55305B101 5755 369800 SH SOLE 339300 0 30500
M-WAVE INC COM 554034108 1631 466000 SH SOLE 466000 0 0
MAGAL SECURITY SYS LTD COM M6786D104 2316 650000 SH SOLE 650000 0 0
MANCHESTER EQUIP INC COM 562154104 1144 300000 SH SOLE 300000 0 0
MANOR CARE INC NEW COM 564055101 25915 254100 SH SOLE 232900 0 21200
MAPICS INC COM 564910107 3208 254100 SH SOLE 236450 0 17650
MARCUS CORP COM 566330106 3023 225000 SH SOLE 225000 0 0
MARTEN TRANS LTD COM 573075108 5277 409875 SH SOLE 367800 0 42075
MARTIN INDS INC DEL COM 57326K102 759 450000 SH SOLE 450000 0 0
MASSBANK CORP READ MASS COM 576152102 4083 138398 SH SOLE 138398 0 0
MATERIAL SCIENCES CORP COM 576674105 3391 332900 SH SOLE 332900 0 0
MATRIX PHARMACEUTICAL INC COM 576844104 4147 873000 SH SOLE 873000 0 0
MATRIX SVC CO COM 576853105 2738 600000 SH SOLE 600000 0 0
MAXICARE HEALTH PLANS INC COM 577904204 10206 3549900 SH SOLE 3469150 0 80750
M D C HLDGS INC COM 552676108 3901 248700 SH SOLE 248700 0 0
MEADOW VY CORP COM 583185103 2215 610900 SH SOLE 545900 0 65000
MENTOR CORP MINN COM 587188103 5937 230000 SH SOLE 230000 0 0
MFRI INC COM 552721102 4669 1082700 SH SOLE 1082700 0 0
MGIC INVT CORP WIS COM 552848103 211 3500 SH SOLE 2000 0 1500
MICROTOUCH SYS INC COM 595145103 2841 225000 SH SOLE 225000 0 0
MIDWEST EXPRESS HLDGS INC COM 597911106 2550 80000 SH SOLE 80000 0 0
MINING SVCS INTL CORP COM 603665209 840 280000 SH SOLE 280000 0 0
MINNTECH CORP COM 604258103 12704 1319900 SH SOLE 1252100 0 67800
MMI COS INC COM 553087107 12393 1436900 SH SOLE 1436100 0 800
MODIS PROFESSIONAL SVCS INC COM 607830106 993 69700 SH SOLE 69700 0 0
MOORE MED CORP COM 615799103 4263 437200 SH SOLE 399900 0 37300
MOTOR CLUB AMER COM 619823107 1415 171500 SH SOLE 171500 0 0
MYR GROUP INC COM 554053108 25915 882200 SH SOLE 871200 0 11000
NABI COM 628716102 17404 3763100 SH SOLE 3558500 0 204600
NATIONAL HOME HEALTH CARE CORP COM 636380107 1506 395000 SH SOLE 395000 0 0
NAVIGANT CONSULTING INC COM 63935N107 5438 500000 SH SOLE 500000 0 0
NEOMAGIC CORP COM 640497103 8200 749700 SH SOLE 730450 0 19250
NETWORK EQUIP TECHNOLOGIES COM 641208103 19952 1689100 SH SOLE 1562800 0 126300
NORSTAN INC COM 656535101 12306 1930395 SH SOLE 1818095 0 112300
NORTHLAND CRANBERRIES INC COM 666499108 1950 325000 SH SOLE 325000 0 0
NORTHWEST PIPE CO COM 667746101 2387 170500 SH SOLE 166000 0 4500
NOVAMERICAN STL INC COM 669959108 2139 244500 SH SOLE 244500 0 0
NU HORIZONS ELECTRS CORP COM 669908105 8613 650000 SH SOLE 650000 0 0
NUMAC ENERGY INC COM 67052A103 10092 2914700 SH SOLE 2850000 0 64700
OFFICEMAX INC COM 67622M108 393 72000 SH SOLE 72000 0 0
O I CORP COM 670841105 1286 326500 SH SOLE 326500 0 0
OIL DRI CORP AMER COM 677864100 15774 1097300 SH SOLE 1006500 0 90800
ORTHODONTIC CTRS AMER INC COM 68750P103 433 36300 SH SOLE 25300 0 11000
ORTHOLOGIC CORP COM 68750J107 16064 6269000 SH SOLE 5861100 0 407900
OSMONICS INC COM 688350107 12755 1388300 SH SOLE 1366000 0 22300
OUTLOOK GROUP CORP COM 690113105 4637 1091000 SH SOLE 1091000 0 0
PATRICK INDS INC COM 703343103 7091 766600 SH SOLE 708500 0 58100
PBOC HLDGS INC COM 69316G108 12983 1375700 SH SOLE 1269100 0 106600
PENTECH INTL INC COM 709635106 516 749900 SH SOLE 749900 0 0
PERRIGO CO COM 714290103 18714 2339300 SH SOLE 2196700 0 142600
PHOTOELECTRON CORP COM 719320103 125 50000 SH SOLE 50000 0 0
PICO HLDGS INC COM 693366205 788 64000 SH SOLE 64000 0 0
PIER 1 IMPORTS INC COM 720279108 846 132700 SH SOLE 132700 0 0
PITTSTON CO COM 725701106 466 21200 SH SOLE 21200 0 0
PLANAR SYS INC COM 726900103 3313 500000 SH SOLE 500000 0 0
POINT FINANCIAL CORP COM 73084P100 825 100000 SH SOLE 100000 0 0
POWELL INDS INC COM 739128106 6844 995500 SH SOLE 884700 0 110800
PRECISION CASTPARTS CORP COM 740189105 879 33500 SH SOLE 33500 0 0
PRECISION DRILLING CORP COM 74022D100 1733 67450 SH SOLE 58750 0 8700
PREMIUMWEAR INC COM 740909106 1150 209000 SH SOLE 209000 0 0
PRESIDENTIAL LIFE CORP COM 740884101 18375 1000000 SH SOLE 1000000 0 0
PRICE ENTERPRISES INC COM 741444301 161 11500 SH SOLE 7000 0 4500
PROFESSIONALS GROUP INC COM 742954100 9747 415884 SH SOLE 415884 0 0
PROVIDENCE & WORCESTER RR CO COM 743737108 1600 200000 SH SOLE 200000 0 0
QUANTUM CORP COM DSSG 747906204 4899 323900 SH SOLE 323900 0 0
RAINBOW TECHNOLOGIES INC COM 750862104 11060 475700 SH SOLE 454500 0 21200
RAINFOREST CAFE INC COM 75086K104 4366 1100000 SH SOLE 1100000 0 0
RAMSAY YOUTH SVCS INC COM 75158K206 1102 750400 SH SOLE 750400 0 0
RAYTEL MED CORP COM 755107109 2695 880000 SH SOLE 880000 0 0
RCM TECHNOLOGIES INC COM 749360400 11540 669000 SH SOLE 627000 0 42000
REHABILICARE INC COM 758944102 1248 312100 SH SOLE 312100 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 7031 300000 SH SOLE 300000 0 0
REMINGTON OIL & GAS CORP COM 759594302 14261 3680375 SH SOLE 3404975 0 275400
RENAISSANCE RE HLDGS LT COM G7496G103 10219 250000 SH SOLE 250000 0 0
REPUBLIC BANCORP INC COM 760282103 14236 1172576 SH SOLE 1157061 0 15515
REPUBLIC SVCS INC COM 760759100 8305 578400 SH SOLE 567600 0 10800
REXALL SUNDOWN INC COM 761648104 15689 1521330 SH SOLE 1415830 0 105500
RIGHTCHOICE MANAGED CARE INC COM 76657K101 16616 1444900 SH SOLE 1346800 0 98100
RIVIERA TOOL CO COM 769648106 1507 388762 SH SOLE 388762 0 0
ROTTLUND INC COM 779077106 1557 593200 SH SOLE 586000 0 7200
WESTON ROY F INC COM 961137106 2042 990000 SH SOLE 990000 0 0
RUSH ENTERPRISES INC COM 781846100 3480 240000 SH SOLE 240000 0 0
RYANS FAMILY STEAK HOUSE INC COM 783519101 4123 485000 SH SOLE 485000 0 0
RYDER SYS INC COM 783549108 384 15700 SH SOLE 15700 0 0
SALIENT 3 COMMUNICATIONS INC COM 794721100 2818 402500 SH SOLE 402500 0 0
SANTA FE SNYDER CORP COM 80218K105 143 17900 SH SOLE 17900 0 0
SAUCONY INC COM 804120202 9606 692300 SH SOLE 675300 0 17000
SCAN OPTICS INC COM 805894102 975 600000 SH SOLE 600000 0 0
SEVENSON ENVIRONMENTAL SVCS COM 818063109 162 17000 SH SOLE 17000 0 0
SHILOH INDS INC COM 824543102 5419 492600 SH SOLE 432600 0 60000
SHOLODGE INC COM 825034101 2385 530000 SH SOLE 530000 0 0
SHOLODGE INC SBDB CONV 7.5%04 825034AA9 6114 9802000 PRN SOLE 9317000 0 485000
SHOPKO STORES INC COM 824911101 24219 1053000 SH SOLE 1003700 0 49300
SHUFFLE MASTER INC COM 825549108 255 30000 SH SOLE 30000 0 0
SICOR INC COM 825846108 27061 3491750 SH SOLE 3322050 0 169700
SIFCO INDS INC COM 826546103 1388 200000 SH SOLE 200000 0 0
SITEL CORP COM 82980K107 6089 869800 SH SOLE 832300 0 37500
SIX RIVS NATL BK EUREKA CA COM 830059101 1236 93300 SH SOLE 93300 0 0
SOFTWORKS INC COM 83404P102 4120 423950 SH SOLE 405000 0 18950
SOUTHERN ENERGY HOMES INC COM 842814105 7403 3158400 SH SOLE 2882300 0 276100
SOUTHWESTERN ENERGY CO COM 845467109 16095 2452500 SH SOLE 2274700 0 177800
SPACEHAB INC COM 846243103 2684 499300 SH SOLE 499300 0 0
SPACELABS MED INC COM 846247104 14655 789500 SH SOLE 771900 0 17600
SPAR GROUP INC COM 784933103 5138 1522500 SH SOLE 1243500 0 279000
SPEIZMAN INDS INC COM 847805108 1425 300000 SH SOLE 300000 0 0
ST FRANCIS CAP CORP COM 789374105 4191 225000 SH SOLE 225000 0 0
ST LAURENT PAPERBOARD INC COM 790907109 1323 100000 SH SOLE 100000 0 0
STEEL TECHNOLOGIES COM 858147101 2494 172000 SH SOLE 172000 0 0
STEELCASE INC CL A 858155203 683 56900 SH SOLE 56900 0 0
STERIS CORP COM 859152100 4127 400700 SH SOLE 398200 0 2500
STERLING FINL CORP WASH COM 859319105 4606 400500 SH SOLE 380500 0 20000
STERLING SOFTWARE INC COM 859547101 1532 48620 SH SOLE 48620 0 0
STEWART AND STEVENSON SVCS INC COM 860342104 587 49600 SH SOLE 49600 0 0
STIFEL FINL CORP COM 860630102 2074 210000 SH SOLE 210000 0 0
STONE & WEBSTER INC COM 861572105 2522 150000 SH SOLE 150000 0 0
STRATEGIC DIAGNOSTICS INC COM 862700101 853 130000 SH SOLE 130000 0 0
STRATTEC SEC CORP COM 863111100 13228 408600 SH SOLE 401800 0 6800
STRUCTURAL DYNAMICS RESH CORP COM 863555108 9585 751800 SH SOLE 729800 0 22000
SUMMIT BK CORP GA COM 866013105 412 35100 SH SOLE 35100 0 0
SUNRISE MED INC COM 867910101 4595 742600 SH SOLE 732600 0 10000
SYBASE INC COM 871130100 17119 1007000 SH SOLE 1007000 0 0
TAB PRODS CO DEL COM 873197107 4993 768100 SH SOLE 768100 0 0
TECH SYM CORP COM 878308105 26927 1305550 SH SOLE 1228750 0 76800
TECO ENERGY INC COM 872375100 553 29800 SH SOLE 26800 0 3000
TELTREND INC COM 87969R106 10058 332500 SH SOLE 332500 0 0
TENET HEALTHCARE CORP COM 88033G100 515 21900 SH SOLE 21900 0 0
TESORO PETE CORP COM 881609101 9942 859850 SH SOLE 859850 0 0
TETRA TECHNOLOGIES INC DEL COM 88162F105 1450 200000 SH SOLE 200000 0 0
TEXAS INDS INC COM 882491103 238 5600 SH SOLE 5600 0 0
TODHUNTER INTL INC DEL COM 889050100 4471 490000 SH SOLE 490000 0 0
TOPPS INC COM 890786106 5188 500000 SH SOLE 500000 0 0
TOYS R US INC COM 892335100 233 16300 SH SOLE 16300 0 0
TRANSCOASTAL MARINE SERVICES COM 893537100 3007 1046000 SH SOLE 1041000 0 5000
TRINITY INDS INC COM 896522109 427 15000 SH SOLE 15000 0 0
UNION PAC CORP COM 907818108 386 8850 SH SOLE 8300 0 550
UNIONBANCORP INC COM 908908106 1862 130700 SH SOLE 130700 0 0
UNISOURCE ENERGY CORP COM 909205106 31832 2845300 SH SOLE 2666600 0 178700
UNITED SEC BANCORPORATION WASH COM 91146A101 2578 206211 SH SOLE 206211 0 0
UNITED WIS SVCS INC NEW COM 913238101 3289 773800 SH SOLE 698400 0 75400
UROCOR INC COM 91727P105 4865 1161800 SH SOLE 957100 0 204700
URS CORP NEW COM 903236107 21140 974764 SH SOLE 941264 0 33500
U S GLOBAL INVS INC COM 902952100 900 600000 SH SOLE 600000 0 0
U S HOME CORP NEW COM 911920106 10723 419500 SH SOLE 418500 0 1000
US ONCOLOGY INC COM 90338W103 1264 256000 SH SOLE 216000 0 40000
VARCO INTL INC COM 922126107 704 69100 SH SOLE 69100 0 0
VETERINARY CTRS AMER INC COM 925514101 6150 477700 SH SOLE 477700 0 0
VICORP RESTAURANTS INC COM 925817108 2652 164475 SH SOLE 164475 0 0
WALDEN RESIDENTIAL PPTYS INC COM 931210108 1907 88200 SH SOLE 69900 0 18300
WASHINGTON HOMES INC NEW COM 938864105 2627 525300 SH SOLE 491100 0 34200
WASHINGTON MUT INC COM 939322103 397 15300 SH SOLE 15300 0 0
WEBCO INDS INC COM 947621108 1664 475500 SH SOLE 475500 0 0
WEYCO GROUP INC COM 962149100 4469 177000 SH SOLE 177000 0 0
WILLBROS GROUP INC COM 969199108 3003 649400 SH SOLE 583200 0 66200
WILSONS THE LEATHER EXPERTS COM 972463103 6757 366500 SH SOLE 346500 0 20000
WINSTON HOTELS INC COM 97563A102 2302 283300 SH SOLE 264900 0 18400
WOLVERINE WORLD WIDE INC COM 978097103 653 59700 SH SOLE 59700 0 0
WORLD ACCEP CORP DEL COM 981419104 1925 400000 SH SOLE 400000 0 0
WRP CORP COM 929317105 864 432200 SH SOLE 432200 0 0
ZINDART LTD COM 989597109 13803 2007700 SH SOLE 1862000 0 145700
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 2108096
TOTAL ENTRIES 328
</TABLE>
