Ark Asset Management Co. Inc. – ‘13F-HR’ for 12/31/08

On:  Wednesday, 2/4/09, at 12:38pm ET   ·   Effective:  2/4/09   ·   For:  12/31/08   ·   Accession #:  894031-9-1   ·   File #:  28-03675

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Quarterly Holdings and Combination Report by a Money Manager   —   Form 13F
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 13F-HR      Quarterly Holdings and Combination Report by a         7±    40K 
                Money Manager                                                    

13F-HR
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United States                                                                   
Securities And Exchange Commission                                              
Washington , D.C. 20549                                                         

Form 13F                                                                        

Form 13F Cover Page                                                             

Report for the Quarter Ended: December 31, 2008                                 
Check here if Amendment [ ]; Amendment Number:                                  
This Amendment (check only one.) : [ ] is a restatement                         
                               [ ] adds new holdings entries

The Institutional Investment Manager Filing this Report:                        

Name:     Ark Asset Management Co. Inc.                                         
Address:  125 Broad Street                                                      
New York, N.Y. 10004                                        

13F File Number: 28-03675                                                       

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:     Michele Cleary                                                        
Title:    Director of Client Administration                                     
Phone:    212-487-5025                                                          

Signature, Place, and Date of Signing:                                          

Michele Cleary   New York, N.Y.       February 4, 2009                        

Report Type  (Check only one.):                                                 

[ ]    13F Holdings Report                                                      

[ ]    13F Notice                                                               

[X ]    13F Combination Report                                                  

List of Other Managers Reporting for this Manager:                              

Form 13F File Number        Name                                                

13F-HR
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Form 13F Summary Page                                                           

Report Summary:                                                                 

Number of Other Included Managers:         0                                    

Form 13F Information Table Entry Total:    258                                  

Form 13F Information Table Value Total:   $1,720,502,010                        

List of Other Included Managers:                                                

No.   13F File Number      Name                                                 

13F-HR
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                                                        [Enlarge/Download Table]
                                                                                                                               

NAME                          TITLE                                                                                            
 OF                            OF           CUSIP       VALUE  SHARES/ SH/ PUT/ INVESTMENT      OTHER       VOTING AUTHORITY   
ISSUER                        CLASS         NUMBER     (x$1000) PRN    PRN ALL  DISCRETIONARY  MANAGERS  SOLE   SHARED     NONE

ABBOTT LABORATORIES            COM          002824100   12862   240989 SH       SOLE                   232310        0     8679
ACTUANT CORP-CL A              CL A         00508X203   11612   610503 SH       SOLE                   475171        0   135332
ADTRAN INC.                    COM          00738A106    9816   659698 SH       SOLE                   513778        0   145920
AGCO CORP                      COM          001084102     299    12668 SH       SOLE                     6768        0     5900
AGILENT TECHNOLOGIES INC       COM          00846U101    2610   166955 SH       SOLE                    89044        0    77911
AIR PRODUCTS & CHEMICALS INC   COM          009158106     622    12382 SH       SOLE                    12182        0      200
ALLETE                         COM          018522300    9028   279751 SH       SOLE                   202487        0    77264
ALTRIA GROUP INC.              COM          02209S103     803    53342 SH       SOLE                    51842        0     1500
AMERICAN AXLE & MFG HOLDINGS   COM          024061103      76    26370 SH       SOLE                    26370        0        0
AMERICAN REPROGRAPHICS CO.     COM          029263100    4405   638461 SH       SOLE                   497121        0   141340
AMERISOURCEBERGEN CORP.        COM          03073E105    1878    52660 SH       SOLE                    28080        0    24580
AMGEN INC.                     COM          031162100   13063   226205 SH       SOLE                   186946        0    39259
AMSURG CORP                    COM          03232P405   16379   701750 SH       SOLE                   546830        0   154920
ANADARKO PETROLEUM CORP.       COM          032511107    4409   114371 SH       SOLE                    72843        0    41528
ANIXTER INTERNATIONAL INC.     COM          035290105    8926   296353 SH       SOLE                   217673        0    78680
ANSYS INC                      COM          03662Q105   12863   461196 SH       SOLE                   446575        0    14621
APACHE CORP.                   COM          037411105    3540    47495 SH       SOLE                    30231        0    17264
APPLE INC.                     COM          037833100    7420    86935 SH       SOLE                    83590        0     3345
APPLIED MATERIALS INC.         COM          038222105    6133   605458 SH       SOLE                   585282        0    20176
ARROW ELECTRONICS INC.         COM          042735100    3019   160262 SH       SOLE                    85625        0    74637
ASTORIA FINANCIAL CORP.        COM          046265104    6673   404939 SH       SOLE                   299809        0   105130
AT&T INC.                      COM          00206R102   18435   646832 SH       SOLE                   413628        0   233205
AUTOLIV INC.                   COM          052800109    1094    50965 SH       SOLE                    27229        0    23736
AUTONATION INC.                COM          05329W102    2175   220164 SH       SOLE                   117522        0   102642
AVERY DENNISON CORP            COM          053611109    1734    52990 SH       SOLE                    28290        0    24700
AVOCENT CORP                   COM          053893103   16602   926983 SH       SOLE                   721613        0   205370
BANK OF AMERICA CORP.          COM          060505104    5135   364710 SH       SOLE                   237034        0   127676
BANK OF NEW YORK CO. INC.      COM          064058100    5045   178074 SH       SOLE                   108850        0    69224
BARNES GROUP INC            CO COM          067806109     583    40220 SH       SOLE                    40220        0        0
BED BATH & BEYOND INC          COM          075896100    1679    66050 SH       SOLE                    35160        0    30890
BELDEN INC.                    COM          077454106   10212   489085 SH       SOLE                   377130        0   111955
BENCHMARK ELECTRS INC.         COM          08160H101   12837  1005221 SH       SOLE                   782823        0   222398
BGC PARTNERS INC.              COM          05541T101     131    47500 SH       SOLE                    47500        0        0
BJ SERVICES CO.                COM          055482103    2850   244219 SH       SOLE                   130474        0   113745
BLOCK (H&R) INC.               COM          093671105    5760   253506 SH       SOLE                   135244        0   118262
BRINKER INTERNATIONAL INC.     COM          109641100    1639   155539 SH       SOLE                    83036        0    72503
BRISTOL-MYERS SQUIBB CO.       COM          110122108    5616   241566 SH       SOLE                   146881        0    94685
BROADCOM CORP.                 COM          111320107   15764   928933 SH       SOLE                   899028        0    29905
BROWN SHOE COMPANY INC         COM          115736100    7127   841437 SH       SOLE                   655157        0   186280
BRUNSWICK CORP.                COM          117043109     776   184290 SH       SOLE                    98082        0    86208
BUCYRUS INTL INC NEW CL A      CL A         118759109    1937   104580 SH       SOLE                    81340        0    23240
CABELA'S INCORPORATED          COM          126804301    5354   918371 SH       SOLE                   715111        0   203260
CABOT MICROELECTRONICS CORP.   COM          12709P103     287    11000 SH       SOLE                    11000        0        0
CALLAWAY GOLF CO.              COM          131193104    3165   340711 SH       SOLE                   265721        0    74990
CALLON PETROLEUM CO            COM          13123X102     137    52759 SH       SOLE                    52759        0        0
CEC ENTERTAINMENT INC.         COM          125137109    5096   210163 SH       SOLE                   163668        0    46495
CELGENE CORP.                  COM          151020104   18595   336376 SH       SOLE                   325781        0    10595
CENTURYTEL INC.                COM          156700106     814    29800 SH       SOLE                    15880        0    13920
CHEVRON CORP.                  COM          166764100   14637   197882 SH       SOLE                   128946        0    68936
CHUBB CORP.                    COM          171232101    6204   121645 SH       SOLE                    75900        0    45745
CIMAREX ENERGY CO.             COM          171798101    3090   115390 SH       SOLE                    61630        0    53760
CISCO SYSTEMS INC.             COM          17275R102   21024  1289822 SH       SOLE                  1131854        0   157968
CITIGROUP INC.                 COM          172967101    2914   434328 SH       SOLE                   287508        0   146820
CLOROX CO.                     COM          189054109   10635   191419 SH       SOLE                   185284        0     6135
COCA-COLA CO.                  COM          191216100   19324   426857 SH       SOLE                   377922        0    48935
COLGATE-PALMOLIVE CO           COM          194162103    8332   121565 SH       SOLE                   117709        0     3856
COMCAST CORP -CL A SPL         CL A SPL     20030N200    3457   214038 SH       SOLE                   117557        0    96481
COMCAST CORP CLASS A           CL A         20030N101    1102    65259 SH       SOLE                    63190        0     2069
COMFORT SYS USA INC         CO COM          199908104     261    24530 SH       SOLE                    24530        0        0
COMMUNITY HEALTH SYSTEMS INC.  COM          203668108    2342   160613 SH       SOLE                    85834        0    74779
CONOCOPHILLIPS                 COM          20825C104    6808   131435 SH       SOLE                    80747        0    50688
CONSTELLATION BRANDS INC CL A  CL A         21036P108    3027   191973 SH       SOLE                   102492        0    89481
CUMMINS INC                    COM          231021106    3879   145134 SH       SOLE                   140556        0     4578
CVS CAREMARK CORP.             COM          126650100    8831   307265 SH       SOLE                   181420        0   125845
CYMER INC                   CO COM          232572107   11540   526714 SH       SOLE                   410254        0   116460
CYTEC INDUSTRIES INC.          COM          232820100    6718   316585 SH       SOLE                   224157        0    92428
DEVON ENERGY CORP.             COM          25179M103    2307    35106 SH       SOLE                    19790        0    15316
DIME BANCORP LIT TRK WTS       WT 11 25 05  25429Q110       5   235834 SH       SOLE                   208034        0    27800
DOLLAR TREE INC                COM          256746108    3139    75286 SH       SOLE                    72912        0     2374
DOMINION RESOURCES INC.        COM          25746U109    2991    83460 SH       SOLE                    49896        0    33564
DONNELLEY (R.R.) & SONS CO.    COM          257867101    1742   128260 SH       SOLE                    68510        0    59750
DU PONT (E.I.) DE NEMOURS      COM          263534109     437    17269 SH       SOLE                    16669        0      600
DUKE ENERGY CORP               COM          26441C105    1688   112459 SH       SOLE                    68735        0    43724
DYCOM INDUSTRIES INC.          COM          267475101    9057  1101808 SH       SOLE                   858738        0   243070
ELECTRONICS FOR IMAGING INC.   COM          286082102   12968  1356490 SH       SOLE                  1058153        0   298337
EMC CORP.                      COM          268648102     123    11723 SH       SOLE                    10323        0     1400
EMCOR GROUP INC                COM          29084Q100    2880   128419 SH       SOLE                    99939        0    28480
EMERSON ELECTRIC CO.           COM          291011104   17778   485618 SH       SOLE                   415522        0    70096
ENDO PHARMACEUT HLDGS INC      COM          29264F205    5791   223748 SH       SOLE                   119558        0   104190
ENTERGY CORP.                  COM          29364G103    1094    13162 SH       SOLE                     6942        0     6220
EQUITY RESIDENTIAL             COM          29476L107    1932    64801 SH       SOLE                    33769        0    31032
EXELON CORP.                   COM          30161N101    2443    43931 SH       SOLE                    23333        0    20598
EXXON MOBIL CORP.              COM          30231G102   23799   298123 SH       SOLE                   213395        0    84728
FAIR ISAAC CORPORATION         COM          303250104    3535   209670 SH       SOLE                   112040        0    97630
FERRO CORP                     COM          315405100     231    32800 SH       SOLE                    32800        0        0
FINANCIAL FEDERAL CORP.        COM          317492106   12974   557532 SH       SOLE                   434202        0   123330
FIRST NIAGARA FINANCIAL GRP    COM          33582V108   18174  1123920 SH       SOLE                   877410        0   246510
FIRSTENERGY CORP.              COM          337932107     721    14841 SH       SOLE                     7827        0     7014
FLUOR CORP.                    COM          343412102   16812   374681 SH       SOLE                   362777        0    11904
FOOT LOCKER INC.               COM          344849104    3093   421439 SH       SOLE                   225331        0   196108
FOREST LABORATORIES INC.       COM          345838106    4377   171868 SH       SOLE                    91666        0    80202
FPL GROUP INC.                 COM          302571104    5283   104962 SH       SOLE                    63936        0    41026
FREEPORT-MCMORAN COPPER-B      CL B         35671D857    2177    89089 SH       SOLE                    50115        0    38974
GAP INC                        COM          364760108     712    53160 SH       SOLE                    28160        0    25000
GATX CORP.                     COM          361448103   13825   446391 SH       SOLE                   344431        0   101960
GENENTECH INC.                 COM          368710406   27284   329082 SH       SOLE                   318611        0    10471
GENERAL ELECTRIC CO.           COM          369604103    6796   419504 SH       SOLE                   219758        0   199746
GENZYME CORP                   COM          372917104   15222   229346 SH       SOLE                   221906        0     7440
GILEAD SCIENCES INC.           COM          375558103   27663   540935 SH       SOLE                   523307        0    17628
GOODRICH CORP                  COM          382388106    3103    83825 SH       SOLE                    81182        0     2643
GOOGLE INC.                    CL A         38259P508    9165    29791 SH       SOLE                    28658        0     1133
GREATBATCH INC                 COM          39153L106   17896   676351 SH       SOLE                   526651        0   149700
GROUP ONE AUTOMOTIVE INC       COM          398905109    6700   622119 SH       SOLE                   484459        0   137660
GULFMARK OFFSHORE INC          COM          402629109    6728   282825 SH       SOLE                   220295        0    62530
H.B. FULLER CO.                COM          359694106    9769   606390 SH       SOLE                   473320        0   133070
HALLIBURTON CO                 COM          406216101     793    43624 SH       SOLE                    43024        0      600
HANOVER INSURANCE GROUP INC/TH COM          410867105    5293   123181 SH       SOLE                    65791        0    57390
HCC INSURANCE HOLDINGS INC.    COM          404132102   26510   991041 SH       SOLE                   686276        0   304765
HEALTH NET INC.                COM          42222G108    2579   236791 SH       SOLE                   126520        0   110271
HEARTLAND EXPRESS INC .        COM          422347104    7157   454125 SH       SOLE                   351121        0   103004
HELMERICH AND PAYNE INC        COM          423452101    7458   327809 SH       SOLE                   245049        0    82760
HEWLETT-PACKARD CO.            COM          428236103    3407    93882 SH       SOLE                    51155        0    42727
HOME DEPOT INC                 COM          437076102   13403   582247 SH       SOLE                   563175        0    19072
HONEYWELL INTERNATIONAL INC.   COM          438516106    5538   168687 SH       SOLE                   162909        0     5778
HORNBECK OFFSHORE SERVICES INC COM          440543106    2165   132491 SH       SOLE                   103151        0    29340
HUDSON CITY BANCORP INC        COM          443683107   14124   884948 SH       SOLE                   857548        0    27400
HUNT J B TRANS SVCS INC     CO COM          445658107    5547   211165 SH       SOLE                   204506        0     6659
IBERIABANK CORP                COM          450828108     818    17040 SH       SOLE                    17040        0        0
INGRAM MICRO INC CL A          CL A         457153104    4213   314625 SH       SOLE                   168080        0   146545
INTEL CORP.                    COM          458140100     173    11776 SH       SOLE                     7976        0     3800
INTERNATIONAL BUSINESS MACHINE COM          459200101   32347   384347 SH       SOLE                   337828        0    46519
INVESCO LTD                    COM          G491BT108    1127    78024 SH       SOLE                    41172        0    36852
ITT CORP                       COM          450911102    6008   130630 SH       SOLE                    80338        0    50292
ITT EDUCATIONAL SVCS INC    CO COM          45068B109    6497    68407 SH       SOLE                    66251        0     2156
JOHNSON & JOHNSON              COM          478160104   15028   251181 SH       SOLE                   175886        0    75295
JOHNSON CONTROLS INC.          COM          478366107    1411    77689 SH       SOLE                    41165        0    36524
JPMORGAN CHASE AND CO.         COM          46625H100   17107   542565 SH       SOLE                   423842        0   118723
KIMBERLY-CLARK CORP.           COM          494368103    5683   107750 SH       SOLE                   104105        0     3645
KINDRED HEALTHCARE INC         COM          494580103    6882   528561 SH       SOLE                   411611        0   116950
KIRBY CORP.                    COM          497266106     995    36381 SH       SOLE                    28301        0     8080
KRAFT FOODS INC CL A           CL A         50075N104    9417   350730 SH       SOLE                   210382        0   140348
KROGER CO                      COM          501044101    7227   273628 SH       SOLE                   164501        0   109127
L-3 COMMUNICATIONS HOLDINGS    COM          502424104    6646    90076 SH       SOLE                    53325        0    36751
LEGGETT & PLATT INC            COM          524660107     954    62790 SH       SOLE                    33560        0    29230
LIFE TECHNOLOGIES CORP         COM          53217V109     859    36870 SH       SOLE                    19720        0    17150
LIFEPOINT HOSPITALS INC.       COM          53219L109   13997   612847 SH       SOLE                   467764        0   145083
LINCOLN NATIONAL CORP.         COM          534187109    3275   173841 SH       SOLE                    92887        0    80954
LITTELFUSE INC.                COM          537008104     198    11930 SH       SOLE                    11930        0        0
LIZ CLAIBORNE INC.             COM          539320101     457   175876 SH       SOLE                    93844        0    82032
LOWE'S COMPANIES INC.          COM          548661107    1639    76157 SH       SOLE                    38348        0    37809
MACROVISION SOLUTIONS CORP.    COM          55611C108   18906  1494516 SH       SOLE                  1163116        0   331400
MANHATTAN ASSOCIATES INC.      COM          562750109    5500   347893 SH       SOLE                   270923        0    76970
MARATHON OIL CORP.             COM          565849106    3635   132876 SH       SOLE                    78334        0    54542
MCAFEE INC                     COM          579064106   21270   615268 SH       SOLE                   545171        0    70097
MCDONALDS CORP                 COM          580135101   14095   226639 SH       SOLE                   218776        0     7863
MDU RESOURCES GROUP INC        COM          552690109    4936   228723 SH       SOLE                   122148        0   106575
MEADOWBROOK INSURANCE GROUP    COM          58319P108     388    60320 SH       SOLE                    14440        0    45880
MEDCO HEALTH SOLUTIONS         COM          58405U102    3465    82682 SH       SOLE                    79749        0     2933
MEDICIS PHARMACEUTICAL CORP    COM          584690309    6655   478757 SH       SOLE                   372697        0   106060
MERRILL LYNCH & CO. INC.       COM          590188108    2663   228801 SH       SOLE                   136234        0    92567
METLIFE INC.                   COM          59156R108    4896   140448 SH       SOLE                    79515        0    60933
METTLER-TOLEDO INTL. INC.      COM          592688105    1695    25145 SH       SOLE                    13439        0    11706
MICROSOFT CORP.                COM          594918104   21304  1095899 SH       SOLE                   963590        0   132309
MKS INSTRUMENTS INC            COM          55306N104   10250   693030 SH       SOLE                   540701        0   152329
MOHAWK INDUSTRIES INC.         COM          608190104    1691    39360 SH       SOLE                    20990        0    18370
MOLINA HEALTHCARE INC          COM          60855R100    8193   465245 SH       SOLE                   363605        0   101640
MONSANTO CO NEW                COM          61166W101   11297   160583 SH       SOLE                   155384        0     5199
MORGAN STANLEY                 COM          617446448    2143   133608 SH       SOLE                    83015        0    50593
MSC INDL DIRECT INC CL A       CL A         553530106    4291   116501 SH       SOLE                    62131        0    54370
NASDAQ OMX GROUP               COM          631103108    6922   280123 SH       SOLE                   165387        0   114736
NATIONAL OILWELL VARCO INC     COM          637071101    9022   369156 SH       SOLE                   309601        0    59555
NAVIGANT CONSULTING INC        COM          63935N107   21192  1335375 SH       SOLE                  1039685        0   295690
NAVIGATORS GROUP INC           COM          638904102    1468    26730 SH       SOLE                    20580        0     6150
NEW JERSEY RESOURCES CORPORATI COM          646025106    4774   121326 SH       SOLE                    94621        0    26705
NEW YORK COMMUNITY BANCORP     COM          649445103    1607   134352 SH       SOLE                    81184        0    53168
NEWFIELD EXPL CO COM           COM          651290108    2978   150760 SH       SOLE                    80550        0    70210
NEWMONT MINING CORP.           COM          651639106    6105   149996 SH       SOLE                    90170        0    59826
O CHARLEYS INC                 COM          670823103     681   340621 SH       SOLE                   265001        0    75620
OIL STATES INTERNATIONAL INC.  COM          678026105    9961   532951 SH       SOLE                   415094        0   117857
OLD REPUBLIC INTERNATIONAL COR COM          680223104    1347   112984 SH       SOLE                    60371        0    52613
OMNICELL INC                   COM          68213N109     659    53952 SH       SOLE                    41932        0    12020
ORACLE SYSTEMS CORP.           COM          68389X105   14935   842385 SH       SOLE                   813204        0    29181
OWENS-ILLINOIS INC.            COM          690768403    4150   151834 SH       SOLE                    81137        0    70697
PACIFIC SUNWEAR CALIF INC   CO COM          694873100    1426   897116 SH       SOLE                   692706        0   204410
PARAMETRIC TECHNOLOGY CORP     COM          699173209    2546   201231 SH       SOLE                   107521        0    93710
PARKER-HANNIFIN CORP           COM          701094104    2410    56650 SH       SOLE                    30190        0    26460
PATTERSON ENERGY INC           COM          703481101    1807   156980 SH       SOLE                    83930        0    73050
PEOPLES UNITED FINANCIAL INC   COM          712704105    6539   366760 SH       SOLE                   355172        0    11588
PEPSICO INC.                   COM          713448108   24961   455749 SH       SOLE                   439306        0    16443
PFIZER INC.                    COM          717081103   10264   579542 SH       SOLE                   320442        0   259100
PHILIP MORRIS INTERNATIONAL IN COM          718172109   17667   406053 SH       SOLE                   324107        0    81946
PIONEER DRILLING COMPANY       COM          723655106    8242  1479712 SH       SOLE                  1166238        0   313474
PLANTRONICS INC NEW         CO COM          727493108    8019   607477 SH       SOLE                   473616        0   133861
PNC FINANCIAL SERVICES GROUP   COM          693475105    2517    51361 SH       SOLE                    31863        0    19498
POLYONE CORP                   COM          73179P106      72    22910 SH       SOLE                    22910        0        0
PRAXAIR INC.                   COM          74005P104    2553    43005 SH       SOLE                    21783        0    21222
PRECISION CASTPARTS CORP.      COM          740189105    3640    61192 SH       SOLE                    36021        0    25171
PRIDE INTL INC              CO COM          74153Q102    7829   489950 SH       SOLE                   469672        0    20278
PROCTER & GAMBLE CO.           COM          742718109   14855   240299 SH       SOLE                   179775        0    60524
PROTECTIVE LIFE CORP           COM          743674103    4483   312395 SH       SOLE                   166918        0   145477
PSYCHIATRIC SOLUTIONS INC.     COM          74439H108    6034   216672 SH       SOLE                   168742        0    47930
QUANTA SERVICES INC.           COM          74762E102   10564   533557 SH       SOLE                   449548        0    84009
QUEST DIAGNOSTICS INC.         COM          74834L100    5033    96959 SH       SOLE                    51816        0    45143
RALCORP HOLDINGS INC.          COM          751028101    8090   138527 SH       SOLE                   107467        0    31060
RANGE RESOURCES CORP           COM          75281A109    7677   223220 SH       SOLE                   211311        0    11909
RC2 CORP                       COM          749388104    4168   390665 SH       SOLE                   304230        0    86435
REGAL BELOIT CORP              COM          758750103   11685   307592 SH       SOLE                   239423        0    68169
REHABCARE GROUP INC            COM          759148109     236    15590 SH       SOLE                    15590        0        0
RES-CARE INC                   COM          760943100     300    19950 SH       SOLE                    19950        0        0
RLI CORP.                      COM          749607107    5691    93052 SH       SOLE                    72472        0    20580
ROYAL DUTCH SHELL PLC ADR      CL A         780259206     464     8757 SH       SOLE                     8757        0        0
SCANSOURCE INC                 COM          806037107    5936   308027 SH       SOLE                   239936        0    68091
SCHLUMBERGER LTD               COM          806857108    8007   189153 SH       SOLE                   188353        0      800
SCHWAB (CHARLES) CORP          COM          808513105    2083   128800 SH       SOLE                    65307        0    63493
SEABRIGHT INSURANCE HOLDINGS   COM          811656107     204    17340 SH       SOLE                    17340        0        0
SEACOR HOLDINGS INC            COM          811904101    6654    99830 SH       SOLE                    77750        0    22080
SELECTIVE INSURANCE GROUP INC. COM          816300107   14801   645502 SH       SOLE                   502700        0   142802
SIMON PROPERTY GROUP INC.      COM          828806109    2186    41149 SH       SOLE                    21405        0    19744
SLM CORP                       COM          78442P106    4140   465148 SH       SOLE                   279222        0   185926
SNAP-ON INC.                   COM          833034101     295     7490 SH       SOLE                     3990        0     3500
SONOCO PRODUCTS                COM          835495102     862    37227 SH       SOLE                    19897        0    17330
STANCORP FINANCIAL GROUP       COM          852891100   12242   293092 SH       SOLE                   202638        0    90454
STANLEY WORKS                  COM          854616109    2431    71280 SH       SOLE                    38070        0    33210
STATE STREET CORP.             COM          857477103    3793    96440 SH       SOLE                    56844        0    39596
STERLING BANCSHARES INC        COM          858907108    7909  1300771 SH       SOLE                  1017781        0   282990
SUPERVALU INC.                 COM          868536103    3631   248687 SH       SOLE                   132805        0   115882
SYKES ENTERPRISES INC          COM          871237103   17145   896699 SH       SOLE                   697869        0   198830
SYMANTEC CORP.                 COM          871503108    4267   315637 SH       SOLE                   168200        0   147437
SYNOPSYS INC.                  COM          871607107    6317   341087 SH       SOLE                   182289        0   158798
TARGET CORP.                   COM          87612E106    5076   147016 SH       SOLE                   141779        0     5237
TCF FINANCIAL CORP.            COM          872275102    2218   162337 SH       SOLE                    86761        0    75576
TESORO CORP.                   COM          881609101     377    28660 SH       SOLE                    28660        0        0
TETRA TECH INC.                COM          88162G103   18751   776446 SH       SOLE                   604411        0   172035
TETRA TECHNOLOGIES INC         COM          88162F105     151    31100 SH       SOLE                    31100        0        0
TEXAS CAPITAL BANCSHARES INC.  COM          88224Q107     748    56000 SH       SOLE                    56000        0        0
TEXAS INSTRUMENTS INC          COM          882508104    9537   614485 SH       SOLE                   594023        0    20462
TEXTRON INC                    COM          883203101    2388   172169 SH       SOLE                   105695        0    66474
TIDEWATER INC               CO COM          886423102    3485    86544 SH       SOLE                    46246        0    40298
TIME WARNER INC.               COM          887317105    4553   452599 SH       SOLE                   250762        0   201837
TJX COMPANIES INC              COM          872540109    1759    85533 SH       SOLE                    51418        0    34115
TOWER GROUP INC                COM          891777104    9317   330258 SH       SOLE                   257508        0    72750
TRANSOCEAN LTD                 COM          H8817H100    6310   133549 SH       SOLE                   133310        0      239
TRAVELERS COS INC              COM          89417E109    3679    81398 SH       SOLE                    46852        0    34546
TRINITY INDS INC               COM          896522109    3948   250480 SH       SOLE                   133920        0   116560
TRIUMPH GROUP INC              COM          896818101    8748   206024 SH       SOLE                   160384        0    45640
U S BANCORP                    COM          902973304    3922   156817 SH       SOLE                    86029        0    70788
UCBH HOLDINGS INC              COM          90262T308   15355  2231798 SH       SOLE                  1738697        0   493101
UNION PACIFIC CORP.            COM          907818108     379     7922 SH       SOLE                     7522        0      400
UNITED RENTALS INC.            COM          911363109   13495  1479760 SH       SOLE                  1210310        0   269450
UNITED TECHNOLOGIES CORP.      COM          913017109    4506    84072 SH       SOLE                    56719        0    27353
UNITEDHEALTH GROUP INC.        COM          91324P102     212     7969 SH       SOLE                     7169        0      800
VALASSIS COMMUNICATIONS INC.   COM          918866104    2306  1746947 SH       SOLE                  1359927        0   387020
VALSPAR CORP                   COM          920355104    3714   205330 SH       SOLE                   109589        0    95741
VERIZON COMMUNICATIONS         COM          92343V104   10277   303150 SH       SOLE                   193665        0   109485
WAL-MART STORES INC.           COM          931142103   19715   351684 SH       SOLE                   338651        0    13033
WASHINGTON FEDERAL INC.        COM          938824109   14923   997526 SH       SOLE                   776363        0   221163
WATSON WYATT WORLDWIDE INC CL  CL A         942712100    2354    49220 SH       SOLE                    26280        0    22940
WEATHERFORD INTL INC NEW       COM          G95089101    3468   320546 SH       SOLE                   320146        0      400
WEIGHT WATCHERS INTL INC       COM          948626106    2079    70680 SH       SOLE                    37760        0    32920
WELLS FARGO & CO.              COM          949746101    4232   143544 SH       SOLE                    73966        0    69578
WGL HOLDINGS INC.              COM          92924F106    9756   298437 SH       SOLE                   232757        0    65680
WILLIAMS COS INC               COM          969457100    8817   608902 SH       SOLE                   467046        0   141856
WOLVERINE WORLD WIDE INC.      COM          978097103   18294   869467 SH       SOLE                   676791        0   192676
WR BERKLEY CORP                COM          084423102    6756   217940 SH       SOLE                   116450        0   101490
WYETH                          COM          983024100   10206   272096 SH       SOLE                   155789        0   116307
YAHOO INC                      COM          984332106    6352   520631 SH       SOLE                   396708        0   123923
ZALE CORP.                     COM          988858106    1901   570742 SH       SOLE                   443092        0   127650
ZOLL MEDICAL CORP              COM          989922109     199    10510 SH       SOLE                    10510        0        0

Dates Referenced Herein

				Referenced-On Page
This ‘13F-HR’ Filing		Date		First		Last			Other Filings
Filed on / Effective on:		2/4/09		1					None on these Dates
For Period end:		12/31/08		1
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