Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WY	Weyerhaeuser Co.	8,227,549	$236M	4.6%	$18.67	-5.6%	COM	962166104
BK	Bank of NY Mellon Corp.	7,616,860	$230M	4.4%	$21.22	+7.3%	COM	064058100
DVN	Devon Energy Corp.	3,720,330	$215M	4.2%	$37.00	+3.0%	COM	25179M103
—	Brookfield Asset Mgmt.	5,514,261	$206M	4.0%	$36.02	—	CL A LTD VT SH	112585104
PKX	Posco	2,698,251	$199M	3.8%	$65.08	—	ADR	693483109
WTM	White Mtns Insur. Grp	270,824	$154M	3.0%	$583.54	-0.5%	COM	G9618E107
—	Leucadia Natl Corp.	5,637,890	$154M	3.0%	$26.22	—	COM	527288104
KEY	Keycorp	12,680,969	$145M	2.8%	$6.48	+16.8%	COM	493267108
—	Covanta Holding Corp.	6,622,428	$142M	2.7%	$20.02	—	COM	22282E102
—	Forest City Enter. Inc.	7,125,350	$135M	2.6%	$17.91	—	CL A	345550107
CVCO	Cavco Industries, Inc.	2,013,020	$115M	2.2%	$53.98	+1.0%	COM	149568107
—	Alleghany Corp.	242,104	$99.18M	1.9%	$409.65	—	COM	017175100
—	Apache Corp	1,111,761	$94.66M	1.8%	$83.85	—	COM	037411105
CMA	Comerica Inc.	2,400,519	$94.36M	1.8%	$24.17	+11.7%	COM	200340107
LOW	Lowe's Co. Inc.	1,844,950	$87.84M	1.7%	$32.16	+13.2%	COM	548661107
—	Tellabs, Inc.	36,512,677	$82.88M	1.6%	$1.98	—	COM	879664100
INTC	Intel Corporation	3,288,734	$75.38M	1.5%	$17.18	-1.6%	COM	458140100
TRC	Tejon Ranch Co.	2,410,906	$74.35M	1.4%	$27.47	+10.6%	COM	879080109
FR	First Indust. Realty Trust, Inc.	4,334,466	$70.52M	1.4%	$15.17	—	COM	32054K103
ENS	EnerSys	1,034,161	$62.7M	1.2%	$42.15	+12.9%	COM	29275Y102
OSK	Oshkosh Corporation	1,248,589	$61.16M	1.2%	$31.79	+15.9%	COM	688239201
—	Encana Corp.	3,281,821	$56.87M	1.1%	$16.96	—	COM	292505104
VNO	Vornado Realty Tr.	660,669	$55.54M	1.1%	$82.85	—	SH BEN INT	929042109
—	Seacor Holdings Inc.	588,164	$53.19M	1.0%	$83.05	—	COM	811904101
—	Liberty Media Corp.	358,544	$52.76M	1.0%	$126.76	—	CL A	531229102
—	SemGroup Corp.	901,971	$51.43M	1.0%	$53.86	—	CL A	81663A105
—	HCC Insurance Holdings	1,173,376	$51.42M	1.0%	$43.11	—	COM	404132102
—	Thomas Properties Gp Inc.	7,638,779	$51.33M	1.0%	$5.30	—	COM	884453101
NVDA	NVIDIA Corp	3,262,133	$50.76M	1.0%	$0.32	+8.2%	COM	67066G104
EME	EMCOR Group, Inc.	1,215,455	$47.56M	0.9%	$37.07	+3.1%	COM	29084Q100
—	Symantec Corp.	1,912,330	$47.33M	0.9%	$22.52	—	COM	871503108
ICFI	ICF International, Inc.	1,335,820	$47.3M	0.9%	$28.39	+18.6%	COM	44925C103
PRGS	Progress Software Corp.	1,795,337	$46.46M	0.9%	$22.66	+10.7%	COM	743312100
TFX	Telefex Inc.	557,733	$45.89M	0.9%	$72.83	-1.4%	COM	879369106
SKT	Tanger Factory Out. Ctrs, Inc.	1,394,811	$45.54M	0.9%	$32.65	—	COM	875465106
—	Axiall Corporation	1,193,189	$45.09M	0.9%	$40.51	—	COM	05463D100
UNF	UniFirst Corp.	428,325	$44.73M	0.9%	$88.55	+6.1%	COM	904708104
BKD	Brookdale Senior Living Inc.	1,646,138	$43.29M	0.8%	$27.46	-0.2%	COM	112463104
ACGL	Arch Capital Group Ltd.	777,715	$42.1M	0.8%	$16.55	+2.7%	ORD	G0450A105
CMP	Compass Minerals Intl	549,128	$41.88M	0.8%	$57.10	-4.9%	COM	20451N101
SXT	Sensient Technologies Corp.	869,882	$41.66M	0.8%	$39.67	+10.2%	COM	81725T100
—	Electronics for Imaging Inc.	1,307,114	$41.41M	0.8%	$28.29	—	COM	286082102
KMT	Kennametal Inc.	851,218	$38.82M	0.8%	$28.75	+9.1%	COM	489170100
—	Rofin-Sinar Tech. Inc.	1,583,882	$38.35M	0.7%	$24.87	—	COM	775043102
LXU	LSB Industries Inc.	1,120,678	$37.58M	0.7%	$25.06	-0.9%	COM	502160104
—	Hersha Hospitality Tr.	6,335,167	$35.41M	0.7%	$5.59	—	SH BEN INT A	427825104
KALU	Kaiser Aluminum Corp.	469,302	$33.44M	0.6%	$43.43	+7.5%	COM PAR $0.01	483007704
KGC	Kinross Gold Corp.	6,568,998	$33.17M	0.6%	$5.79	-8.6%	COM NO PAR	496902404
TTEK	Tetra Tech, Inc.	1,280,861	$33.16M	0.6%	$5.17	-7.2%	COM	88162G103
—	Post Properties Inc.	695,236	$31.3M	0.6%	$47.74	—	COM	737464107
MTX	Minerals Technologies Inc.	623,872	$30.8M	0.6%	$39.30	+11.6%	COM	603158106
SCL	Stepan Company	533,312	$30.79M	0.6%	$56.64	+2.2%	COM	858586100
—	CommonWealth REIT	1,359,990	$29.8M	0.6%	$23.12	—	COM SH BEN INT	203233101
—	Encore Wire Corp.	746,563	$29.44M	0.6%	$34.10	—	COM	292562105
—	Glatfelter P. H. Co.	1,081,449	$29.27M	0.6%	$25.25	—	COM	377316104
—	Ingram Micro Inc.	1,257,495	$28.98M	0.6%	$18.99	—	CL A	457153104
—	Mantech International Corp.	1,004,966	$28.9M	0.6%	$26.12	—	CL A	564563104
CALM	Cal Maine Foods, Inc.	598,032	$28.77M	0.6%	$15.34	+10.1%	COM	128030202
—	Precision Drilling Corp,	2,832,828	$28.17M	0.5%	$8.48	—	COM	74022D308
ABM	ABM Industries Inc	1,041,798	$27.73M	0.5%	$17.72	+12.3%	COM	000957100
—	Syntel, Inc.	319,275	$25.57M	0.5%	$63.28	—	COM	87162H103
ALG	Alamo Group, Inc.	510,789	$24.98M	0.5%	$38.15	+10.5%	COM	011311107
—	Susser Holdings Corp.	463,919	$24.66M	0.5%	$51.75	—	COM	869233106
NEM	Newmont Mining Corp.	874,219	$24.57M	0.5%	$25.34	-10.8%	COM	651639106
—	Bristow Group Inc.	306,693	$22.32M	0.4%	$65.32	—	COM	110394103
—	AVX Corporation	1,686,086	$22.14M	0.4%	$11.75	—	COM	002444107
—	Madison Sq. Garden Inc.	368,492	$21.4M	0.4%	$59.25	—	CL A	55826P100
H	Hyatt Hotels Corp.	490,229	$21.06M	0.4%	$39.79	+6.7%	CL A	448579102
—	Consolidated Tomoka Ld Co.	543,230	$20.91M	0.4%	$38.16	—	COM	210226106
UMBF	UMB Financial Corp.	381,800	$20.75M	0.4%	$55.81	+4.5%	COM	902788108
MDRX	Allscripts Healthcare Sol., Inc.	1,380,244	$20.52M	0.4%	$13.70	+10.1%	COM	01988P108
MTN	Vail Resorts Inc.	289,337	$20.07M	0.4%	$62.47	+8.3%	COM	91879Q109
WHG	Westwood Holdings Group Inc.	414,877	$19.93M	0.4%	$43.23	+12.3%	COM	961765104
—	PNC Financial Services Gp	1,289,241	$19.85M	0.4%	$15.10	—	W EXP 12/31/2018	693475121
NSIT	Insight Enterprises, Inc.	1,032,290	$19.53M	0.4%	$20.13	0.0%	COM	45765U103
—	Cloud Peak Energy Inc.	1,306,076	$19.16M	0.4%	$16.48	—	COM	18911Q102
—	City National Corp.	283,422	$18.89M	0.4%	$63.37	—	COM	178566105
—	Cubic, Corp.	342,505	$18.39M	0.4%	$48.10	—	COM	229669106
CBSH	Commerce Bancshares, Inc	395,141	$17.31M	0.3%	$21.46	+8.3%	COM	200525103
BR	Broadridge Financial Sol. Inc.	543,883	$17.27M	0.3%	$20.36	+16.3%	COM	11133T103
—	Blucora, Inc.	726,320	$16.69M	0.3%	$18.66	—	COM	095229100
BIGGQ	Big Lots, Inc.	447,053	$16.58M	0.3%	$26.62	+0.0%	COM	089302103
—	Orbital Sciences Corp.	780,935	$16.54M	0.3%	$17.37	—	COM	685564106
CFR	Cullen Frost Bankers, Inc.	219,472	$15.48M	0.3%	$43.57	+13.8%	COM	229899109
—	CST Brands, Inc	495,167	$14.76M	0.3%	$30.65	—	COM	12646R105
FCN	FTI Consulting Inc.	381,698	$14.43M	0.3%	$35.45	0.0%	COM	302941109
ALCO	Alico, Inc.	343,912	$14.16M	0.3%	$36.42	-1.3%	COM	016230104
VLY	Valley National Bancorp	1,383,246	$13.76M	0.3%	$9.34	+8.2%	COM	919794107
—	Weight Watchers Intl	360,000	$13.45M	0.3%	$46.00	—	COM	948626106
JJSF	J&J Snack Foods Corp.	166,317	$13.43M	0.3%	$61.94	+5.4%	COM	466032109
—	Ascena Retail Group, Inc.	663,601	$13.23M	0.3%	$17.45	—	COM	04351G101
—	Wells Fargo & Co.	941,975	$13.22M	0.3%	$13.67	—	W EXP 10/28/2018	949746119
—	Starz- Liberty Capital	436,434	$12.28M	0.2%	$22.10	—	COM SER A	85571Q102
—	Jos A Bank Clothiers Inc.	271,062	$11.92M	0.2%	$41.46	—	COM	480838101
DAR	Darling International Inc.	562,366	$11.9M	0.2%	$18.50	+10.2%	COM	237266101
—	Electro Scientific Ind., Inc.	977,904	$11.45M	0.2%	$10.76	—	COM	285229100
—	Pioneer Energy Serv. Corp	1,520,195	$11.42M	0.2%	$6.62	—	COM	723664108
—	Excel Trust, Inc.	942,491	$11.31M	0.2%	$12.81	—	COM	30068C109
—	Park Electrochemical Corp.	372,754	$10.68M	0.2%	$24.01	—	COM	700416209
—	ERA Group Inc.	392,393	$10.66M	0.2%	$26.15	—	COM	26885G109
IIIN	Insteel Industries Inc.	649,222	$10.45M	0.2%	$10.58	-2.2%	COM	45774W108
CASS	Cass Information Systems, Inc.	193,854	$10.35M	0.2%	$24.93	+27.0%	COM	14808P109
BELFB	Bel Fuse Inc.	530,821	$9.258M	0.2%	$12.64	+10.0%	CL B	077347300
AEO	American Eagle Outfitters	618,067	$8.647M	0.2%	$13.15	-11.0%	COM	02553E106
—	Superior Industries Intl, Inc.	439,701	$7.84M	0.2%	$17.21	—	COM	868168105
CSWC	Capital Southwest	227,372	$7.778M	0.2%	$4.41	+2.4%	COM	140501107
CCRN	Cross Country Healthcare Inc.	1,135,308	$6.88M	0.1%	$5.12	+11.8%	COM	227483104
—	BlackRock Credit Allctn Income Tr	447,448	$5.835M	0.1%	$13.04	—	COM	092508100
—	Stanley Furniture Co., Inc.	1,559,077	$5.784M	0.1%	$4.00	—	COM	854305208
—	DWS High Income Opp Fd Inc	353,260	$4.999M	0.1%	$14.15	—	COM	23339M204
—	First Potomac Realty Tr.	388,415	$4.883M	0.1%	$13.06	—	COM	33610F109
IAG	IAMGOLD Corp.	995,315	$4.728M	0.1%	$5.22	+0.4%	COM	450913108
—	Cowen group Inc.	1,341,760	$4.629M	0.1%	$2.90	—	CL A	223622101
KELYA	Kelly Services Inc.	225,000	$4.381M	0.1%	$14.88	+8.8%	CL A	488152208
GM	General Motors Co.	121,467	$4.369M	0.1%	$23.62	+13.2%	COM	37045V100
—	Resolute Forest Products, Inc.	315,495	$4.171M	0.1%	$13.17	—	COM	76117W109
—	Kearny Financial Corp.	382,278	$3.907M	0.1%	$10.49	—	COM	487169104
—	Western Asset Mgd Hi Inc Fd	669,372	$3.809M	0.1%	$5.69	—	COM	95766L107
—	Yamana Gold Inc.	328,100	$3.419M	0.1%	$10.02	—	COM	98462Y100
XXHYBXX	New America High Inc Fd, Inc	333,065	$3.167M	0.1%	$9.51	—	COM	641876800
—	Chiquita Brands Int'l Inc.	244,155	$3.091M	0.1%	$10.92	—	COM	170032809
—	Neuberger Berman Hi Yld Strat. Fd	229,145	$2.993M	0.1%	$13.06	—	COM	64128C106
—	First Trust Hi Inc Long/Short Fd	166,114	$2.914M	0.1%	$17.54	—	COM	33738E109
—	AK Steel Corporation	711,375	$2.668M	0.1%	$3.04	—	COM	001547108
—	Chesapeake Energy	100,000	$2.588M	0.1%	$20.38	—	COM	165167107
VTGDF	Vantage Drilling Co.	1,400,000	$2.422M	0.0%	$1.78	+1.0%	ORD SHS	G93205113
—	First Trust Strategic Hi IncFd II	150,793	$2.399M	0.0%	$15.91	—	COM SHS NEW	337353304
—	Allied Nevada Gold	568,205	$2.375M	0.0%	$4.18	—	COM	019344100
—	BlackRock Corp Hi Yld Fd III Inc	314,366	$2.295M	0.0%	$7.30	—	COM	09255M104
TRNO	Terreno Realty Corp.	121,290	$2.154M	0.0%	$18.53	—	COM	88146M101
—	Prudential Glb Sht Dur Hi Yld Fd	122,868	$2.143M	0.0%	$17.44	—	COM SHS	74433A109
—	Wells Fargo Adv Inc Opp Fd	232,918	$2.096M	0.0%	$9.00	—	COM SHS	94987B105
—	Eldorado Gold Corporation	301,600	$2.039M	0.0%	$6.52	—	COM	284902103
—	Comerica Inc	130,000	$1.801M	0.0%	$13.70	—	W EXP 11/14/2018	200340115
HAE	Haemonetics Corp.	42,000	$1.675M	0.0%	$40.49	+3.6%	COM	405024100
—	BlackRock High Income Shares	799,788	$1.664M	0.0%	$2.08	—	SHS BEN INT	09250E107
SBSAA	Spanish Broadcasting Sys., Inc	382,686	$1.554M	0.0%	$3.36	+12.0%	CL A	846425833
ALX	Alexander's, Inc.	5,000	$1.431M	0.0%	$293.80	—	COM	014752109
—	MFS Intermediate Hi Inc Fd	480,650	$1.331M	0.0%	$2.77	—	SH BEN INT	59318T109
—	Jakks Pacific, Inc.	267,038	$1.199M	0.0%	$11.25	—	COM	47012E106
—	Walter Energy, Inc.	80,100	$1.124M	0.0%	$14.03	—	COM	93317Q105
—	Western Asset Hi Inc Opp Fd	179,449	$1.071M	0.0%	$5.97	—	COM	95766K109
—	American Residential Prop., Inc.	60,000	$1.057M	0.0%	$17.62	—	COM	0297E303
—	Tejon Ranch Co.	372,073	$1.027M	0.0%	$2.76	—	WTS	879080133
—	Brookfield Properties Inc.	37,550	$716K	0.0%	$16.67	—	COM	112900105
SNY	Sanofi-Aventis	13,830	$700K	0.0%	$51.44	—	SPON ADR	80105N105
—	Cedar Shopping Centers Inc.	133,000	$689K	0.0%	$5.18	—	COM	150602209
—	Investment Tech. Gp	40,787	$641K	0.0%	$13.98	—	COM	46145F105
CVE	Cenovus Energy Inc.	19,200	$573K	0.0%	$22.39	+0.9%	COM	15135U109
—	Eaton Vance Fltg-Rate Inc Plus Fd	30,551	$545K	0.0%	$17.84	—	COM SHS BEN INT	278284104
KIM	Kimco Realty Corp.	26,045	$526K	0.0%	$12.61	-5.9%	COM	49446R109
—	Brookfield Property Part. L.P	26,692	$517K	0.0%	$19.37	—	UNIT LTD PARTN	G16249107
—	Western Asset Hi Yld Def Opp Fd	28,942	$517K	0.0%	$17.86	—	COM	95768B107
—	Select Income	20,000	$516K	0.0%	$28.05	—	COM SH BEN INT	81618T100
AKR	Acadia Realty Trust	19,999	$494K	0.0%	$24.70	—	COM SH BEN INT	004239109
—	PS Business Parks, Inc.	6,100	$455K	0.0%	$72.13	—	COM	69360J107
—	Capital One Financial	15,000	$436K	0.0%	$24.20	—	W EXP 11/14/2018	14040H139
PLD	Prologis Inc.	8,880	$334K	0.0%	$27.85	-6.6%	COM	74340W103
—	Desarrolladora Homex	100,000	$212K	0.0%	$3.73	—	ADR	25030W100
CFFN	Capitol Federal Fincl, Inc.	14,075	$175K	0.0%	$5.40	0.0%	COM	14057J101
—	Annaly Capital Mgmt, Inc.	13,215	$153K	0.0%	$12.56	—	COM	035710409
—	Capstead Mortgage Corp	12,500	$147K	0.0%	$12.08	—	COM NO PAR	14067E506
—	First Niagara Fincl Gp, Inc.	10,275	$107K	0.0%	$10.02	—	COM	33582V108