Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WY	Weyerhaeuser Co.	8,215,227	$259M	4.8%	$18.67	+0.8%	COM	962166104
BK	Bank of NY Mellon Corp.	7,117,407	$249M	4.6%	$21.22	+14.5%	COM	064058100
—	Brookfield Asset Mgmt.	5,279,197	$205M	3.8%	$36.02	—	CL A LTD VT SH	112585104
PKX	Posco	2,542,382	$198M	3.6%	$65.08	—	ADR	693483109
DVN	Devon Energy Corp.	3,115,295	$193M	3.5%	$37.00	+10.9%	COM	25179M103
—	Leucadia Natl Corp.	5,902,658	$167M	3.1%	$26.32	—	COM	527288104
WTM	White Mtns Insur. Grp	274,818	$166M	3.0%	$583.63	+1.0%	COM	G9618E107
KEY	Keycorp	11,257,939	$151M	2.8%	$6.48	+24.3%	COM	493267108
—	Forest City Enter. Inc.	7,069,629	$135M	2.5%	$17.91	—	CL A	345550107
CVCO	Cavco Industries, Inc.	2,004,502	$121M	2.2%	$53.98	+12.8%	COM	149568107
—	Covanta Holding Corp.	6,622,428	$118M	2.2%	$20.02	—	COM	22282E102
CMA	Comerica Inc.	2,418,940	$115M	2.1%	$24.17	+18.6%	COM	200340107
—	Apache Corp	1,091,980	$93.84M	1.7%	$83.85	—	COM	037411105
LOW	Lowe's Co. Inc.	1,842,437	$91.29M	1.7%	$32.16	+21.7%	COM	548661107
TRC	Tejon Ranch Co.	2,369,185	$87.09M	1.6%	$27.47	+20.8%	COM	879080109
—	Alleghany Corp.	211,651	$84.65M	1.6%	$409.65	—	COM	017175100
INTC	Intel Corporation	3,252,638	$84.44M	1.5%	$17.18	+4.4%	COM	458140100
FR	First Indust. Realty Tr, Inc.	4,330,258	$75.56M	1.4%	$15.17	—	COM	32054K103
—	Encana Corp.	3,661,035	$66.08M	1.2%	$17.08	—	COM	292505104
—	Post Properties Inc.	1,454,621	$65.79M	1.2%	$46.43	—	COM	737464107
—	SemGroup Corp.	899,481	$58.67M	1.1%	$53.86	—	CL A	81663A105
VNO	Vornado Realty Tr.	659,703	$58.58M	1.1%	$82.85	—	SH BEN INT	929042109
EME	EMCOR Group, Inc.	1,369,960	$58.14M	1.1%	$37.04	-0.5%	COM	29084Q100
—	HCC Insurance Holdings	1,234,679	$56.97M	1.0%	$43.26	—	COM	404132102
NVDA	NVIDIA Corp	3,548,212	$56.84M	1.0%	$0.32	+12.1%	COM	67066G104
—	Axiall Corporation	1,189,524	$56.43M	1.0%	$40.51	—	COM	05463D100
—	Parkway Prop., Inc.	2,914,821	$56.23M	1.0%	$19.29	—	COM	70159Q104
BKD	Brookdale Sr Living Inc.	1,900,958	$51.67M	0.9%	$27.50	+0.8%	COM	112463104
—	Electronics for Imaging Inc.	1,315,207	$50.94M	0.9%	$28.29	—	COM	286082102
SKT	Tanger Factory Out. Ctrs, Inc.	1,481,110	$47.42M	0.9%	$32.61	—	COM	875465106
—	Symantec Corp.	1,966,805	$46.38M	0.9%	$22.55	—	COM	871503108
ACGL	Arch Capital Group Ltd.	775,565	$46.29M	0.8%	$16.55	+10.2%	ORD	G0450A105
PRGS	Progress Software Corp.	1,789,967	$46.23M	0.8%	$22.66	+14.2%	COM	743312100
—	Rofin-Sinar Tech. Inc.	1,701,340	$45.97M	0.8%	$25.01	—	COM	775043102
LXU	LSB Industries Inc.	1,117,393	$45.84M	0.8%	$25.06	+3.3%	COM	502160104
UNF	UniFirst Corp.	427,160	$45.71M	0.8%	$88.55	+9.5%	COM	904708104
—	Liberty Media Corp.	302,959	$44.37M	0.8%	$126.76	—	CL A	531229102
CMP	Compass Minerals Intl	547,543	$43.83M	0.8%	$57.10	-9.4%	COM	20451N101
ENS	EnerSys	602,118	$42.2M	0.8%	$42.15	+41.3%	COM	29275Y102
SXT	Sensient Tech. Corp.	867,397	$42.09M	0.8%	$39.67	+25.5%	COM	81725T100
KMT	Kennametal Inc.	800,873	$41.7M	0.8%	$28.75	+19.4%	COM	489170100
SCL	Stepan Company	617,103	$40.5M	0.7%	$57.24	+6.6%	COM	858586100
TTEK	Tetra Tech, Inc.	1,421,072	$39.76M	0.7%	$5.19	+4.0%	COM	88162G103
—	Seacor Holdings Inc.	435,664	$39.73M	0.7%	$83.05	—	COM	811904101
ICFI	ICF Int'l, Inc.	1,125,230	$39.06M	0.7%	$28.39	+21.1%	COM	44925C103
MTX	Minerals Technologies Inc.	622,137	$37.37M	0.7%	$39.30	+36.9%	COM	603158106
—	Legg Mason Inc.	855,488	$37.2M	0.7%	$43.48	—	COM	524901105
CALM	Cal Maine Foods, Inc.	596,192	$35.91M	0.7%	$15.34	+20.5%	COM	128030202
—	Susser Holdings Corp.	538,176	$35.24M	0.6%	$53.64	—	COM	869233106
—	Hersha Hospitality Tr.	6,325,809	$35.23M	0.6%	$5.59	—	SH BEN INT A	427825104
TFX	Telefex Inc.	369,692	$34.7M	0.6%	$72.83	+15.5%	COM	879369106
KALU	Kaiser Aluminum Corp.	468,102	$32.88M	0.6%	$43.43	+9.3%	COM PAR $0.01	483007704
—	Glatfelter P. H. Co.	1,181,053	$32.64M	0.6%	$25.46	—	COM	377316104
—	CommonWealth REIT	1,357,834	$31.65M	0.6%	$23.12	—	COM SH BEN INT	203233101
KGC	Kinross Gold Corp.	6,825,154	$29.87M	0.5%	$5.75	-17.0%	COM NO PAR	496902404
ALG	Alamo Group, Inc.	490,501	$29.77M	0.5%	$38.15	+27.3%	COM	011311107
ABM	ABM Industries Inc	1,038,773	$29.7M	0.5%	$17.72	+21.9%	COM	000957100
—	Syntel, Inc.	318,315	$28.95M	0.5%	$63.28	—	COM	87162H103
NSIT	Insight Enterprises, Inc.	1,272,905	$28.91M	0.5%	$20.47	+7.0%	COM	45765U103
SXC	Suncoke Energy Inc.	1,228,631	$28.02M	0.5%	$20.64	0.0%	COM	86722A103
CSGS	CSG Sys. Int'l, Inc.	953,215	$28.02M	0.5%	$21.46	0.0%	COM	126349109
—	Precision Drilling Corp,	2,833,088	$26.5M	0.5%	$8.48	—	COM	74022D308
DAR	Darling Int'l Inc.	1,247,226	$26.04M	0.5%	$20.08	+6.5%	COM	237266101
WKC	World Fuel Services Corp	597,994	$25.81M	0.5%	$39.38	0.0%	COM	981475106
UMBF	UMB Financial Corp.	399,649	$25.69M	0.5%	$56.03	+8.4%	COM	902788108
WHG	Westwood Holdings Group Inc.	414,877	$25.68M	0.5%	$43.23	+26.1%	COM	961765104
—	Mantech Int'l Corp.	843,573	$25.25M	0.5%	$26.12	—	CL A	564563104
—	Encore Wire Corp.	465,628	$25.24M	0.5%	$34.10	—	COM	292562105
H	Hyatt Hotels Corp.	489,323	$24.2M	0.4%	$39.79	+14.6%	CL A	448579102
MDRX	Allscripts Healthcare Sol., Inc.	1,535,465	$23.74M	0.4%	$13.81	+6.7%	COM	01988P108
—	Bristow Group Inc.	314,928	$23.64M	0.4%	$65.57	—	COM	110394103
IDCC	Interdigital Inc.	781,611	$23.05M	0.4%	$33.88	0.0%	COM	45867G101
—	PNC Fin'l Serv. Gp	1,286,884	$22.84M	0.4%	$15.10	—	W EXP 12/31/2018	693475121
OSK	Oshkosh Corp.	444,701	$22.4M	0.4%	$31.79	+30.0%	COM	688239201
—	City National Corp.	282,662	$22.39M	0.4%	$63.37	—	COM	178566105
NEM	Newmont Mining Corp.	947,660	$21.82M	0.4%	$24.91	-20.7%	COM	651639106
MTN	Vail Resorts Inc.	288,312	$21.69M	0.4%	$62.47	+15.6%	COM	91879Q109
—	Madison Sq. Garden Inc.	367,177	$21.14M	0.4%	$59.25	—	CL A	55826P100
—	Blucora, Inc.	724,395	$21.12M	0.4%	$18.66	—	COM	095229100
—	Cubic, Corp.	398,011	$20.96M	0.4%	$48.74	—	COM	229669106
—	AVX Corporation	1,439,492	$20.05M	0.4%	$11.75	—	COM	002444107
FCN	FTI Consulting Inc.	486,340	$20.01M	0.4%	$36.78	+13.2%	COM	302941109
—	VCA Antech Inc.	636,712	$19.97M	0.4%	$31.36	—	COM	918194101
—	Consolidated Tomoka Ld Co.	541,406	$19.65M	0.4%	$38.16	—	COM	210226106
CBSH	Commerce Bancshares, Inc	436,933	$19.62M	0.4%	$21.71	+10.9%	COM	200525103
BIGGQ	Big Lots, Inc.	570,465	$18.42M	0.3%	$26.65	+0.4%	COM	089302103
—	Orbital Sciences Corp.	778,370	$18.14M	0.3%	$17.37	—	COM	685564106
—	CST Brands, Inc	493,587	$18.13M	0.3%	$30.65	—	COM	12646R105
CFR	Cullen Frost Bankers, Inc.	230,230	$17.14M	0.3%	$43.88	+14.4%	COM	229899109
BR	Broadridge Financial Sol. Inc.	393,358	$15.55M	0.3%	$20.36	+42.4%	COM	11133T103
—	Wells Fargo & Co.	940,678	$14.89M	0.3%	$13.67	—	W EXP 10/28/2018	949746119
AMH	American Homes 4 Rent	880,720	$14.27M	0.3%	$16.20	—	COM	02665T306
VLY	Valley National Bancorp	1,379,621	$13.96M	0.3%	$9.34	+7.4%	COM	919794107
—	Ingram Micro Inc.	584,495	$13.71M	0.3%	$18.99	—	CL A	457153104
IIIN	Insteel Industries Inc.	597,808	$13.59M	0.2%	$10.58	+5.1%	COM	45774W108
—	Cloud Peak Energy Inc.	749,163	$13.48M	0.2%	$16.48	—	COM	18911Q102
—	ERA Group Inc.	432,153	$13.34M	0.2%	$26.58	—	COM	26885G109
ALCO	Alico, Inc.	342,517	$13.31M	0.2%	$36.42	-10.5%	COM	016230104
—	BlackRock Credit Allctn Inc Tr	1,006,171	$13.14M	0.2%	$13.05	—	COM	092508100
JJSF	J&J Snack Foods Corp.	137,509	$12.18M	0.2%	$61.94	+11.8%	COM	466032109
—	Excel Trust, Inc.	1,040,091	$11.85M	0.2%	$12.68	—	COM	30068C109
CASS	Cass Information Sys., Inc.	167,709	$11.29M	0.2%	$24.93	+37.2%	COM	14808P109
—	Starz- Liberty Capital	355,012	$10.38M	0.2%	$22.10	—	COM SER A	85571Q102
—	Ascena Retail Group, Inc.	477,260	$10.1M	0.2%	$17.45	—	COM	04351G101
—	First Trust Hi Inc Long/Sht Fd	579,544	$9.98M	0.2%	$17.31	—	COM	33738E109
GM	General Motors Co.	221,467	$9.051M	0.2%	$25.68	+9.7%	COM	37045V100
—	Pioneer Energy Serv. Corp	1,062,874	$8.514M	0.2%	$6.62	—	COM	723664108
CSWC	Capital Southwest	227,372	$7.928M	0.1%	$4.41	-2.9%	COM	140501107
—	Radio One Inc	1,980,578	$7.506M	0.1%	$3.79	—	CL D NON VTG	75040P405
MYGN	Myriad Genetics	328,314	$6.888M	0.1%	$25.29	0.0%	COM	62855J104
AEO	American Eagle Outfitters	407,998	$5.875M	0.1%	$13.15	-20.5%	COM	02553E106
—	AK Steel Corp.	711,375	$5.833M	0.1%	$3.04	—	COM	001547108
—	Ares Dynamic Cr Allocation Fd, Inc.	322,875	$5.805M	0.1%	$17.98	—	COM	04014F102
—	DWS High Inc Opp Fd Inc	393,556	$5.667M	0.1%	$14.18	—	COM	23339M204
KELYA	Kelly Services Inc.	225,000	$5.612M	0.1%	$14.88	+25.1%	CL A	488152208
—	Weight Watchers Int'l	165,285	$5.443M	0.1%	$46.00	—	COM	948626106
—	Allied Nevada Gold	1,519,455	$5.394M	0.1%	$3.79	—	COM	019344100
—	Resolute Forest Prod., Inc.	315,495	$5.054M	0.1%	$13.17	—	COM	76117W109
—	Electro Scientific Ind., Inc.	477,069	$4.99M	0.1%	$10.76	—	COM	285229100
—	Noranda Aluminum Holding	1,500,000	$4.935M	0.1%	$3.29	—	COM	65542W107
—	Neuberger Berman Hi Yld Strat. Fd	358,026	$4.747M	0.1%	$13.13	—	COM	64128C106
—	Barrick Gold Corp.	249,447	$4.393M	0.1%	$17.61	—	COM	067901108
—	First Potomac Realty Trust	359,144	$4.177M	0.1%	$13.06	—	COM	33610F109
—	BlackRock Corp Hi Yld Fd III Inc	332,703	$4.049M	0.1%	$12.17	—	COM	09255P107
—	PIMCO Dynamic Credit Inc. Fd	179,209	$4.029M	0.1%	$22.48	—	COM	72202D106
XXHYBXX	New America Hi Inc Fd, Inc	409,902	$3.956M	0.1%	$9.54	—	COM	641876800
—	Western Asset Hi Yld Def Opp Fd	216,347	$3.832M	0.1%	$17.73	—	COM	95768B107
—	Western Asset Mgd Hi Inc Fd	669,372	$3.789M	0.1%	$5.69	—	COM	95766L107
—	Cowen group Inc.	912,834	$3.569M	0.1%	$2.90	—	CL A	223622101
BELFB	Bel Fuse Inc.	156,384	$3.333M	0.1%	$12.64	+37.5%	CL B	077347300
TG	Tredegar Corp.	99,474	$2.866M	0.1%	$14.22	0.0%	COM	894650100
—	Chiquita Brands Int'l Inc.	244,155	$2.857M	0.1%	$10.92	—	COM	170032809
—	First Trust Strategic Hi IncFd II	177,241	$2.845M	0.1%	$15.93	—	COM SHS NEW	337353304
—	Chesapeake Energy	100,000	$2.714M	0.0%	$20.38	—	COM	165167107
VTGDF	Vantage Drilling Co.	1,400,000	$2.576M	0.0%	$1.78	+1.7%	ORD SHS	G93205113
—	Comerica Inc	130,000	$2.477M	0.0%	$13.70	—	W EXP 11/14/2018	200340115
—	Prudential Glb Sht Dur Hi Yld Fd	124,646	$2.163M	0.0%	$17.44	—	COM SHS	74433A109
—	Wells Fargo Adv Inc Opp Fd	234,126	$2.149M	0.0%	$9.00	—	COM SHS	94987B105
TRNO	Terreno Realty Corp.	121,290	$2.147M	0.0%	$18.53	—	COM	88146M101
—	Walter Energy, Inc.	125,000	$2.079M	0.0%	$14.97	—	COM	93317Q105
—	Quicksilver Resources, Inc	650,000	$1.996M	0.0%	$3.07	—	COM	74837R104
—	Tejon Ranch Co.	372,079	$1.991M	0.0%	$2.76	—	W EXP 8/31/2016	879080133
—	Babson Cap Glb Sht Dur Hi Yd Fd	81,347	$1.873M	0.0%	$23.02	—	COM	05617T100
—	American Res. Prop., Inc.	100,000	$1.716M	0.0%	$17.16	—	COM	02927E303
RYN	Rayonier Inc.	40,760	$1.716M	0.0%	$42.10	—	COM	754907103
TECK	Teck Cominco Ltd Class B	67,567	$1.663M	0.0%	$25.83	0.0%	CL B	878742204
ALX	Alexander's, Inc.	5,000	$1.65M	0.0%	$293.80	—	COM	014752109
—	MFS Intermediate Hi Inc Fd	524,984	$1.517M	0.0%	$2.78	—	SH BEN INT	59318T109
—	USEC Inc.	4,000,000	$1.33M	0.0%	$0.33	—	NOTE 3.00% 10/01/14	90333EAC2
SBSAA	Spanish Broadcasting Sys., Inc	382,686	$1.282M	0.0%	$3.36	+16.2%	CL A	846425833
—	Select Income	40,000	$1.07M	0.0%	$27.40	—	COM SH BEN INT	81618T100
—	Western Asset Hi Inc Opp Fd	179,449	$1.064M	0.0%	$5.97	—	COM	95766K109
—	Cooper Tire & Rubber Co.	40,000	$962K	0.0%	$24.05	—	COM	216831107
SNY	Sanofi-Aventis	16,105	$864K	0.0%	$51.75	—	SPON ADR	80105N105
—	Cedar Shopping Cent. Inc.	133,000	$833K	0.0%	$5.18	—	COM	150602209
—	ING U.S Inc.	20,000	$703K	0.0%	$35.15	—	COM	45685E106
—	Yamana Gold Inc.	67,900	$585K	0.0%	$10.02	—	COM	98462Y100
CVE	Cenovus Energy Inc.	19,200	$550K	0.0%	$22.39	+0.2%	COM	15135U109
—	Capital One Financial	15,000	$532K	0.0%	$24.20	—	W EXP 11/14/2018	14040H139
—	Brookfield Property Part. L.P	26,692	$532K	0.0%	$19.37	—	UNIT LTD PARTN	G16249107
IAG	IAMGOLD Corp.	158,825	$529K	0.0%	$5.22	-17.0%	COM	450913108
KIM	Kimco Realty Corp	26,045	$514K	0.0%	$12.61	-7.8%	COM	49446R109
AKR	Acadia Realty Trust	19,999	$497K	0.0%	$24.70	—	COM SH BEN INT	004239109
—	PS Business Parks, Inc.	6,100	$466K	0.0%	$72.13	—	COM	69360J107
—	Stanley Furniture Co., Inc.	94,758	$364K	0.0%	$4.00	—	COM	854305208
—	Eldorado Gold Corp.	60,300	$342K	0.0%	$6.52	—	COM	284902103
PLD	Prologis Inc.	8,880	$328K	0.0%	$27.85	-4.0%	COM	74340W103
—	Capstead Mortgage Corp	12,500	$151K	0.0%	$12.08	—	COM NO PAR	14067E506
—	Annaly Capital Mgmt, Inc.	13,215	$132K	0.0%	$12.56	—	COM	035710409
—	First Niagara Fin'l Gp, Inc.	10,275	$109K	0.0%	$10.02	—	COM	33582V108