Messner & Smith Theme/Value Investment Management

Messner & Smith Theme/Value Investment Management as of Dec. 31, 2010

Portfolio Holdings for Messner & Smith Theme/Value Investment Management

Messner & Smith Theme/Value Investment Management holds 70 positions in its portfolio as reported in the December 2010 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Forest Oil Corporation 3.8 $5.7M 150k 37.97
Digital River 3.8 $5.6M 163k 34.42
Belden 3.4 $5.1M 138k 36.82
Alere 3.3 $4.9M 133k 36.60
Microsemi Corporation 3.2 $4.8M 211k 22.90
Gen-Probe Incorporated 3.1 $4.7M 80k 58.35
Palomar Medical Technologies 3.1 $4.6M 321k 14.21
Joy Global 3.0 $4.4M 51k 86.76
Bucyrus International 2.9 $4.3M 49k 89.41
Contango Oil & Gas Company 2.8 $4.2M 72k 57.93
WMS Industries 2.6 $4.0M 87k 45.24
CONSOL Energy 2.6 $3.9M 81k 48.74
Stec 2.6 $3.9M 223k 17.65
Finisar Corporation 2.5 $3.8M 128k 29.69
FTI Consulting (FCN) 2.4 $3.6M 98k 37.28
Power Integrations (POWI) 2.4 $3.6M 89k 40.16
Progress Software Corporation (PRGS) 2.4 $3.5M 125k 28.26
Hornbeck Offshore Services 2.4 $3.5M 169k 20.88
CF Industries Holdings (CF) 2.3 $3.5M 26k 135.14
Nuance Communications 2.3 $3.4M 188k 18.18
Jones Group 2.2 $3.3M 211k 15.54
Intrepid Potash 2.1 $3.2M 85k 37.29
Heartland Express (HTLD) 2.1 $3.1M 195k 16.02
Cullen/Frost Bankers (CFR) 2.0 $3.1M 50k 61.12
PrivateBan 2.0 $3.0M 205k 14.38
MEMC Electronic Materials 1.9 $2.8M 247k 11.26
East West Ban (EWBC) 1.9 $2.8M 142k 19.55
Corn Products International 1.8 $2.7M 59k 45.99
Navigators 1.8 $2.7M 53k 50.36
Senomyx 1.5 $2.3M 322k 7.13
Manitowoc Company 1.5 $2.2M 167k 13.11
DeVry 1.4 $2.1M 44k 47.97
Western Digital (WDC) 1.4 $2.1M 61k 33.91
Polaris Industries (PII) 1.3 $2.0M 25k 78.03
Seagate Technology Com Stk 1.2 $1.8M 123k 15.03
FEI Company 1.2 $1.8M 70k 26.41
General Maritime Corporation 1.2 $1.8M 546k 3.25
General Cable Corporation 1.0 $1.5M 43k 35.08
Pdi 1.0 $1.5M 142k 10.54
Ez (EZPW) 1.0 $1.5M 55k 27.12
Tower 0.9 $1.4M 55k 25.59
Usec 0.9 $1.3M 219k 6.02
Cree 0.8 $1.2M 18k 65.87
Martek Biosciences 0.8 $1.2M 38k 31.30
Timken Company (TKR) 0.8 $1.1M 24k 47.72
Orion Marine (ORN) 0.7 $1.1M 93k 11.60
Standard Microsystems Corporation 0.7 $994k 35k 28.83
Pacific Continental Corporation 0.6 $854k 85k 10.06
LSI Industries (LYTS) 0.6 $835k 99k 8.46
Capella Education Company 0.5 $711k 11k 66.57
Exxon Mobil Corporation (XOM) 0.4 $651k 8.9k 73.15
iGATE Corporation 0.4 $663k 34k 19.70
Fuel Systems Solutions 0.4 $635k 22k 29.38
NaviSite 0.4 $554k 149k 3.71
Advanced Micro Devices Inc note 5.750% 8/1 0.3 $459k 450k 1.02
Chevron Corporation (CVX) 0.3 $390k 4.3k 91.29
Union Pacific Corporation (UNP) 0.2 $362k 3.9k 92.58
At&t (T) 0.2 $339k 12k 29.40
Norfolk Southern (NSC) 0.2 $307k 4.9k 62.91
Newmont Mining Corporation (NEM) 0.2 $317k 5.2k 61.48
Alleghany Corp Del 0.2 $301k 981.00 306.83
Pfizer (PFE) 0.2 $248k 14k 17.50
Mead Johnson Nutrition 0.1 $222k 3.6k 62.36
SJW (HTO) 0.1 $231k 8.7k 26.43
Sara Lee 0.1 $215k 12k 17.52
General Electric Company 0.1 $194k 11k 18.34
Hornbeck Offshore Svcs Inc N frnt 1.625%11/1 0.1 $184k 200k 0.92
Premier Exibitions 0.0 $42k 21k 1.97
Transatlantic Petroleum 0.0 $33k 10k 3.30
Tronox Incorporated (TRXBQ) 0.0 $27k 22k 1.21