Rutabaga Capital Management

Rutabaga Capital Management as of Dec. 31, 2011

Portfolio Holdings for Rutabaga Capital Management

Rutabaga Capital Management holds 0 positions in its portfolio as reported in the December 2011 quarterly 13F filing

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FORM 13F INFORMATION TABLE



Column 1                      Column 2     Column 3      Column 4  Column 5           Column 6   Column 7   Column8

                                                           VALUE    SHARES/  SH/PUT/ INVESTMENT   OTHER   VOTING AUTHORITY
NAME OF ISSUER                TITLE OF CLASCUSIP         (x$1000)   PRN AMT  PRNCALL DISCRETION  MANAGERS    SOLE    SHARED  NONE

ACCO BRANDS CORP              Common       00081T108        16,815  1,742,490sh         sole                1,391,973
ACCURIDE CORP                 Common       00439t206         5,092    715,159sh         sole                  608,059
AMERISAFE INC                 Common       03071H100        11,121    478,314sh         sole                  368,614
ASTORIA FINANCIAL CORP        Common       046265104         9,460  1,114,267sh         sole                  859,067
ASTRO-MED INC                 Common       04638F108         5,496    722,224sh         sole                  612,124
BELDEN INC                    Common       077454106         9,277    278,747sh         sole                  215,147
BRIGGS & STRATTON             Common       109043109         9,608    620,294sh         sole                  483,794
BRUNSWICK CORP                Common       117043109         9,483    525,099sh         sole                  407,799
CAPITAL CITY BANK GROUP INC   Common       139674105         7,090    742,382sh         sole                  631,482
CATHAY GENERAL BANCORP        Common       149150104        11,655    780,650sh         sole                  608,850
CDI CORP                      Common       125071100         7,123    515,777sh         sole                  438,477
CITI TRENDS INC.              Common       17306X102         7,437    847,076sh         sole                  720,176
COLUMBUS MCKINNON N Y COM     Common       199333105         1,422    112,065sh         sole                   95,265
CORE MOLDING INC.             Common       218683100         5,595    691,609sh         sole                  593,309
CPI AEROSTRUCTURES INC        Common       125919308         7,956    670,274sh         sole                  569,674
DOUGLAS DYNAMICS INC.         Common       25960r105        18,796  1,285,637sh         sole                1,023,537
DYNAMICS RESEARCH CORP        Common       268057106         5,819    513,177sh         sole                  434,977
ENERSYS                       Common       29275Y102        10,545    406,042sh         sole                  313,142
EVOLVING SYSTEMS INC          Common       30049R209         6,854    919,936sh         sole                  786,436
FLANDERS CORPORATION          Common       338494107         4,291  1,406,834sh         sole                1,195,734
FLOW INTL CORP                Common       343468104         9,837  2,810,541sh         sole                2,393,141
FUEL TECH INC                 Common       359523107         7,548  1,147,096sh         sole                  975,196
GEORGIA GULF CORP             Common       373200302         8,712    447,001sh         sole                  347,901
GLOBAL POWER EQUIPMENT GROUP  Common       37941P306         9,430    397,056sh         sole                  337,701
GREAT LAKES DREDGE & DOCK CO  Common       390607109         7,439  1,337,976sh         sole                1,079,847
HOOKER FURNITURE CORP         Common       439038100         9,463    825,055sh         sole                  702,155
HUDSON HIGHLAND GROUP INC     Common       443792106         8,485  1,771,332sh         sole                1,508,432
IMAGE SENSING SYSTEMS INC     Common       45244C104         3,473    533,011sh         sole                  454,211
INTEVAC INC                   Common       461148108         4,937    667,173sh         sole                  569,473
INTL SPEEDWAY CORP            Common       460335201         9,742    384,297sh         sole                  297,597
J. ALEXANDERS CORPORATION     Common       466096104         3,832    613,128sh         sole                  521,728
JOHN BEAN TECHNOLOGIES CORP   Common       477839104        10,142    659,878sh         sole                  510,878
KADANT INC                    Common       48282T104         6,287    278,066sh         sole                  236,466
KBW INC.                      Common       482423100         9,767    643,396sh         sole                  497,796
KEY TECHNOLOGY INC            Common       493143101         7,996    612,711sh         sole                  522,811
KMG CHEMICALS INC             Common       482564101         1,061     61,414sh         sole                   52,114
LIBBEY INC                    Common       529898108         8,186    642,508sh         sole                  547,608
LIONBRIDGE TECHNOLOGIES INC.  Common       536252109         8,510  3,715,998sh         sole                2,970,998
MAC-GRAY CORP                 Common       554153106         9,204    667,418sh         sole                  567,518
MANITEX INTERNATIONAL INC     Common       563420108         4,670  1,101,351sh         sole                  938,051
MARINE PRODUCTS CORP.         Common       568427108         6,462  1,302,810sh         sole                1,113,510
MARINEMAX INC                 Common       567908108         7,070  1,084,361sh         sole                  923,536
MICROFINANCIAL INC.           Common       595072109         3,325    571,076sh         sole                  485,976
MINE SAFETY APPLIANCES        Common       602720104         9,195    277,625sh         sole                  213,925
MKTG INC.                     Common       60688K108           517    862,073sh         sole                  735,919
MODINE MANUFACTURING          Common       607828100         7,472    789,867sh         sole                  613,567
MOTORCAR PARTS OF AMERICA     Common       620071100         5,134    684,574sh         sole                  583,174
MUELLER WATER PRODUCTS        Common       624758108        10,144  4,157,222sh         sole                3,194,922
MYERS INDUSTRIES INC          Common       628464109        16,995  1,377,257sh         sole                1,099,527
NATIONAL INTERSTATE CORP      Common       63654U100         9,184    372,271sh         sole                  289,935
OMNOVA SOLUTIONS INC          Common       682129101         8,095  1,756,029sh         sole                1,494,229
PACER INTERNATIONAL INC       Common       69373H106        10,607  1,982,661sh         sole                1,688,561
PENFORD CORP COM              Common       707051108         2,737    539,076sh         sole                  462,150
PEOPLES FEDERAL BANCSHARES    Common       711037101         9,134    641,015sh         sole                  545,415
PERCEPTRON INC                Common       71361F100         3,492    733,673sh         sole                  630,373
PERICOM SEMICONDUCTOR CORP    Common       713831105         7,827  1,028,502sh         sole                  876,002
PERMA-FIX ENVIRONMENTAL SVCS  Common       714157104         5,881  3,794,027sh         sole                3,233,394
PHYSICIANS FORMULA HOLDINGS   Common       719427106         4,386  1,370,519sh         sole                1,165,119
QAD INC                       Common       74727D306         3,218    306,489sh         sole                  260,889
QAD INC-B                     Common       74727D207            21      2,080sh         sole                    1,780
RAND LOGISTICS INC            Common       752182105         6,819  1,047,415sh         sole                  891,315
REGIS CORP                    Common       758932107        11,463    692,654sh         sole                  531,754
REIS INC                      Common       75936p105         3,194    350,234sh         sole                  297,934
SCHAWK INC CL A               Common       806373106         7,649    682,353sh         sole                  530,595
SEABRIGHT HOLDINGS            Common       811656107         7,901  1,032,818sh         sole                  879,018
SOLUTIA INC                   Common       834376501         9,799    567,087sh         sole                  438,887
SPARTECH CORP                 Common       847220209         8,151  1,723,208sh         sole                1,466,108
STEINWAY MUSICAL INSTRUMENTS  Common       858495104         7,729    308,682sh         sole                  262,882
SURMODICS INC                 Common       868873100         1,727    117,798sh         sole                  100,098
TECUMSEH PRODUCTS CO          Common       878895200         4,824  1,026,415sh         sole                  872,315
THOR INDUSTRIES IND           Common       885160101        11,785    429,644sh         sole                  333,713
VIAD CORP                     Common       92552r406         9,476    542,097sh         sole                  420,297
VISHAY PRECISION GROUP        Common       92835K103         9,116    570,440sh         sole                  485,840
WERNER ENTERPRISES INC        Common       950755108         8,226    341,340sh         sole                  270,840
WEST PHARMACEUTICAL SERVICES, Common       955306105         5,732    151,037sh         sole                  116,537
WESTELL TECHNOLOGIES          Common       957541105           498    224,370sh         sole                  190,770
WILLIS LEASE FINANCE CORPORATICommon       970646105         6,449    539,651sh         sole                  459,351
X-RITE INC                    Common       983857103         8,285  1,785,490sh         sole                1,380,217
ZEP INC                       Common       98944B108         3,471    248,264sh         sole                  211,464