Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WY	Weyerhaeuser Co.	6,538,015	$192M	3.7%	$18.67	+1.9%	COM	962166104
BK	Bank of NY Mellon Corp.	5,296,072	$187M	3.6%	$21.22	+16.7%	COM	064058100
PKX	Posco	2,574,148	$179M	3.5%	$65.13	—	ADR	693483109
DVN	Devon Energy Corp.	2,562,708	$172M	3.3%	$37.00	+12.7%	COM	25179M103
—	Brookfield Asset Mgmt.	4,160,589	$170M	3.3%	$36.02	—	CL A LTD VT SH	112585104
CVCO	Cavco Industries, Inc.	1,935,758	$152M	2.9%	$53.98	+40.9%	COM	149568107
—	Forest City Enter. Inc.	7,008,991	$134M	2.6%	$17.91	—	CL A	345550107
CMA	Comerica Inc.	2,410,354	$125M	2.4%	$24.17	+30.4%	COM	200340107
KEY	Keycorp	8,643,141	$123M	2.4%	$6.48	+32.1%	COM	493267108
—	Apache Corp	1,478,213	$123M	2.4%	$83.62	—	COM	037411105
—	Covanta Holding Corp.	6,622,428	$120M	2.3%	$20.02	—	COM	22282E102
WTM	White Mtns Insur. Grp	191,574	$115M	2.2%	$583.63	-0.0%	COM	G9618E107
—	Leucadia National Corp.	3,873,183	$108M	2.1%	$26.32	—	COM	527288104
—	Encana Corp.	4,628,927	$98.97M	1.9%	$17.98	—	COM	292505104
—	Alleghany Corp.	225,281	$91.78M	1.8%	$409.51	—	COM	017175100
LOW	Lowe's Companies Inc.	1,832,757	$89.62M	1.7%	$32.16	+21.3%	COM	548661107
INTC	Intel Corporation	3,256,638	$84.05M	1.6%	$17.18	+8.7%	COM	458140100
—	Post Properties Inc.	1,702,115	$83.57M	1.6%	$46.82	—	COM	737464107
FR	First Indust. Realty Tr, Inc.	4,298,711	$83.05M	1.6%	$15.17	—	COM	32054K103
TRC	Tejon Ranch Co.	2,369,185	$80.15M	1.6%	$27.47	+23.5%	COM	879080109
VNO	Vornado Realty Trust	657,602	$64.81M	1.3%	$82.85	—	SH BEN INT	929042109
—	CommonWealth REIT	2,419,214	$63.63M	1.2%	$24.52	—	COM SH BEN INT	203233101
BKD	Brookdale Sr Living Inc.	1,886,865	$63.23M	1.2%	$27.50	+10.1%	COM	112463104
NVDA	NVIDIA Corp	3,512,635	$62.91M	1.2%	$0.32	+24.5%	COM	67066G104
—	HCC Insurance Holdings	1,234,598	$56.16M	1.1%	$43.26	—	COM	404132102
—	Axiall Corporation	1,247,819	$56.05M	1.1%	$40.72	—	COM	05463D100
SKT	Tanger Factory Out. Ctrs, Inc.	1,475,470	$51.64M	1.0%	$32.61	—	COM	875465106
EME	EMCOR Group, Inc.	936,449	$43.82M	0.8%	$37.04	+12.5%	COM	29084Q100
—	Legg Mason Inc.	874,388	$42.88M	0.8%	$43.60	—	COM	524901105
—	Symantec Corp	2,145,287	$42.84M	0.8%	$22.33	—	COM	871503108
UNF	UniFirst Corp.	384,535	$42.28M	0.8%	$88.55	+16.6%	COM	904708104
TTEK	Tetra Tech, Inc.	1,421,072	$42.05M	0.8%	$5.19	+12.2%	COM	88162G103
MTX	Minerals Technologies Inc.	650,388	$41.99M	0.8%	$39.94	+35.0%	COM	603158106
—	Rofin-Sinar Tech. Inc.	1,748,731	$41.9M	0.8%	$24.99	—	COM	775043102
LXU	LSB Industries Inc.	1,085,738	$40.63M	0.8%	$25.06	+7.4%	COM	502160104
SCL	Stepan Company	617,103	$39.84M	0.8%	$57.24	+9.6%	COM	858586100
ENS	EnerSys	572,989	$39.7M	0.8%	$42.15	+48.1%	COM	29275Y102
TFX	Telefex Inc.	369,692	$39.65M	0.8%	$72.83	+24.4%	COM	879369106
PRGS	Progress Software Corp.	1,789,967	$39.02M	0.8%	$22.66	+5.7%	COM	743312100
—	SemGroup Corp.	586,529	$38.52M	0.7%	$53.86	—	CL A	81663A105
CMP	Compass Minerals Intl	464,147	$38.3M	0.7%	$57.10	+0.6%	COM	20451N101
G	Genpact Ltd.	2,149,998	$37.45M	0.7%	$15.27	0.0%	COM	G3922B107
—	Hersha Hospitality Trust	6,258,732	$36.49M	0.7%	$5.59	—	SH BEN INT A	427825104
—	Seacor Holdings Inc.	414,616	$35.83M	0.7%	$83.05	—	COM	811904101
SXT	Sensient Technologies Corp.	618,625	$34.9M	0.7%	$39.67	+29.7%	COM	81725T100
WKC	World Fuel Services Corp.	775,409	$34.2M	0.7%	$40.49	+9.2%	COM	981475106
—	Susser Holdings Cor.	538,176	$33.62M	0.7%	$53.64	—	COM	869233106
KALU	Kaiser Aluminum Corp.	468,102	$33.43M	0.6%	$43.43	+12.5%	COM PAR $0.01	483007704
SXC	Suncoke Energy Inc.	1,431,916	$32.7M	0.6%	$20.84	+5.7%	COM	86722A103
UMBF	UMB Financial Corp.	503,860	$32.6M	0.6%	$57.36	+8.9%	COM	902788108
FCN	FTI Consulting Inc.	969,135	$32.31M	0.6%	$35.92	-2.4%	COM	302941109
NSIT	Insight Enterprises, Inc.	1,272,905	$31.96M	0.6%	$20.47	+12.4%	COM	45765U103
—	Electronics for Imaging Inc.	732,222	$31.71M	0.6%	$28.29	—	COM	286082102
MDRX	Allscripts Healthcare Sol., Inc.	1,708,718	$30.81M	0.6%	$14.16	+22.2%	COM	01988P108
—	PNC Fin'l Serv. Gp	1,283,250	$30.29M	0.6%	$15.10	—	W EXP 12/31/2018	693475121
KMT	Kennametal Inc.	654,283	$28.98M	0.6%	$28.75	+15.9%	COM	489170100
—	Multi-Color Corp.	826,659	$28.93M	0.6%	$35.00	—	COM	625383104
—	Syntel, Inc.	318,315	$28.62M	0.6%	$63.28	—	COM	87162H103
ACGL	Arch Capital Group Ltd.	476,524	$27.42M	0.5%	$16.55	+6.5%	ORD	G0450A105
—	Liberty Media Corp.	207,489	$27.13M	0.5%	$126.76	—	CL A	531229102
CSGS	CSG Sys. Int'l, Inc.	1,028,299	$26.78M	0.5%	$21.50	+2.4%	COM	126349109
DAR	Darling Int'l Inc.	1,334,847	$26.72M	0.5%	$20.08	-0.2%	COM	237266101
WHG	Westwood Holdings Grp Inc.	414,877	$26.01M	0.5%	$43.23	+35.6%	COM	961765104
—	Mantech International Corp.	863,640	$25.4M	0.5%	$26.20	—	CL A	564563104
CALM	Cal Maine Foods, Inc.	402,616	$25.28M	0.5%	$15.34	+24.6%	COM	128030202
ALG	Alamo Group, Inc.	460,001	$24.99M	0.5%	$38.15	+32.7%	COM	011311107
H	Hyatt Hotels Corp.	463,363	$24.93M	0.5%	$39.79	+23.9%	CL A	448579102
RYN	Rayonier Inc.	541,023	$24.84M	0.5%	$45.62	—	COM	754907103
IDCC	Interdigital Inc.	745,452	$24.68M	0.5%	$33.88	-12.1%	COM	45867G101
—	PHH Corp.	954,725	$24.67M	0.5%	$25.84	—	COM	693320202
—	Glatfelter P. H. Co.	894,140	$24.34M	0.5%	$25.46	—	COM	377316104
—	Precision Drilling Corp,	1,981,588	$23.77M	0.5%	$8.48	—	COM	74022D308
—	Bristow Group Inc.	310,322	$23.44M	0.5%	$65.57	—	COM	110394103
ICFI	ICF International, Inc.	582,866	$23.2M	0.4%	$28.39	+28.9%	COM	44925C103
—	City National Corp.	282,662	$22.25M	0.4%	$63.37	—	COM	178566105
PB	Prosperity Bancshares Inc.	325,374	$21.52M	0.4%	$45.93	0.0%	COM	743606105
CBSH	Commerce Bancshares, Inc.	463,588	$21.52M	0.4%	$21.87	+12.1%	COM	200525103
—	Consolidated Tomoka Ld Co.	533,496	$21.49M	0.4%	$38.16	—	COM	210226106
ABM	ABM Industries Inc	745,547	$21.43M	0.4%	$17.72	+23.5%	COM	000957100
—	Cubic, Corp.	413,011	$21.09M	0.4%	$48.82	—	COM	229669106
—	Madison Sq. Garden Inc. .	367,084	$20.84M	0.4%	$59.25	—	CL A	55826P100
BIGGQ	Big Lots, Inc.	546,692	$20.7M	0.4%	$26.65	-13.0%	COM	089302103
—	VCA Antech Inc.	636,712	$20.52M	0.4%	$31.36	—	COM	918194101
MTN	Vail Resorts Inc.	288,312	$20.09M	0.4%	$62.47	+13.5%	COM	91879Q109
CFR	Cullen Frost Bankers, Inc.	230,230	$17.85M	0.3%	$43.88	+20.3%	COM	229899109
OSK	Oshkosh Corp.	299,822	$17.65M	0.3%	$31.79	+43.6%	COM	688239201
—	Wells Fargo & Co.	938,530	$17.49M	0.3%	$13.67	—	W EXP 10/28/2018	949746119
—	Encore Wire Corp.	360,115	$17.47M	0.3%	$34.10	—	COM	292562105
—	AVX Corporation	1,304,789	$17.2M	0.3%	$11.75	—	COM	002444107
—	CST Brands, Inc	493,587	$15.42M	0.3%	$30.65	—	COM	12646R105
—	Ingram Micro Inc.	517,330	$15.29M	0.3%	$18.99	—	CL A	457153104
—	Blucora, Inc.	775,011	$15.26M	0.3%	$18.73	—	COM	095229100
—	ERA Group Inc.	514,553	$15.08M	0.3%	$27.02	—	COM	26885G109
—	Actuant Corp.	435,210	$14.86M	0.3%	$34.15	—	CL A	00508X203
AMH	American Homes 4 Rent	880,720	$14.72M	0.3%	$16.20	—	CL A	02665T306
BR	Broadridge Financial Sol. Inc.	393,358	$14.61M	0.3%	$20.36	+48.6%	COM	11133T103
VLY	Valley National Bancorp	1,384,409	$14.41M	0.3%	$9.34	+7.3%	COM	919794107
EXLS	ExlService Holdings Inc.	456,479	$14.11M	0.3%	$5.54	0.0%	COM	302081104
—	BlackRock Credit Allctn Inc Tr	1,031,228	$13.94M	0.3%	$13.06	—	COM	092508100
—	Excel Trust, Inc.	1,062,676	$13.47M	0.3%	$12.68	—	COM	30068C109
TG	Tredegar Corp.	584,359	$13.45M	0.3%	$13.33	-1.4%	COM	894650100
ALCO	Alico, Inc.	335,217	$12.64M	0.2%	$36.42	-12.1%	COM	016230104
—	Starz- Liberty Capital	355,012	$11.46M	0.2%	$22.10	—	COM SER A	85571Q102
—	First Trust Hi Inc Long/Sht Fd	597,983	$10.6M	0.2%	$17.33	—	COM	33738E109
IIIN	Insteel Industries Inc.	508,683	$10.01M	0.2%	$10.58	+14.8%	COM	45774W108
—	Cloud Peak Energy Inc.	465,868	$9.848M	0.2%	$16.48	—	COM	18911Q102
—	Radio One Inc.	1,980,578	$9.388M	0.2%	$3.79	—	CL D NON VTG	75040P405
—	Western Asset Hi Yld Def Opp Fd	500,830	$8.955M	0.2%	$17.82	—	COM	95768B107
—	Allied Nevada Gold	1,961,723	$8.455M	0.2%	$3.90	—	COM	019344100
—	Ascena Retail Group, Inc.	477,260	$8.247M	0.2%	$17.45	—	COM	04351G101
VZ	Verizon Comm. Corp.	165,189	$7.858M	0.2%	$25.87	0.0%	COM	92343V104
TECK	Teck Cominco	360,260	$7.788M	0.2%	$23.69	-2.1%	CL B	878742204
—	Forest Oil Corp.	4,000,000	$7.64M	0.1%	$1.91	—	COM	346091705
CSWC	Capital Southwest	212,372	$7.374M	0.1%	$4.41	+0.7%	COM	140501107
—	Neuberger Berman Hi Yld Strat. Fd	504,626	$6.873M	0.1%	$13.27	—	COM	64128C106
—	Noranda Aluminum Holding	1,500,000	$6.165M	0.1%	$3.29	—	COM	65542W107
XXHYBXX	New America Hi Inc Fd, Inc	625,520	$6.136M	0.1%	$9.63	—	COM	641876800
—	Ares Dynamic Cr Allocation Fd, Inc.	329,003	$5.962M	0.1%	$17.98	—	COM	04014F102
—	DWS High Inc Opp Fd Inc	393,556	$5.75M	0.1%	$14.18	—	COM	23339M204
KELYA	Kelly Services Inc.	225,000	$5.339M	0.1%	$14.88	+40.2%	CL A	488152208
—	AK Steel Corp.	711,375	$5.136M	0.1%	$3.04	—	COM	001547108
CASS	Cass Information Sys., Inc.	97,070	$5.005M	0.1%	$24.93	+30.7%	COM	14808P109
GM	General Motors Co.	121,467	$4.181M	0.1%	$25.68	+6.8%	COM	37045V100
—	Resolute Forest Prod., Inc.	206,686	$4.152M	0.1%	$13.17	—	COM	76117W109
—	BlackRock Corp Hi Yld Fd III Inc	332,703	$4.079M	0.1%	$12.17	—	COM	09255P107
—	PIMCO Dynamic Credit Inc. Fd	179,209	$4.05M	0.1%	$22.48	—	COM	72202D106
—	Western Asset Mgd Hi Inc Fd	669,372	$3.836M	0.1%	$5.69	—	COM	95766L107
—	Barrick Gold Corp.	205,069	$3.656M	0.1%	$17.61	—	COM	067901108
—	Cowen group Inc.	726,106	$3.202M	0.1%	$2.90	—	CL A	223622101
—	Chiquita Brands Int'l Inc.	244,155	$3.04M	0.1%	$10.92	—	COM	170032809
—	First Trust Strategic Hi IncFd II	184,032	$2.932M	0.1%	$15.93	—	COM SHS NEW	337353304
—	Comerica Inc.	130,000	$2.915M	0.1%	$13.70	—	W EXP 11/14/2018	200340115
SBSAA	Spanish Broadcasting Sys., Inc	432,637	$2.535M	0.0%	$3.51	+32.4%	CL A	846425833
—	Wells Fargo Adv Inc Opp Fd	242,850	$2.295M	0.0%	$9.02	—	COM SHS	94987B105
—	Prudential Glb Sht Dur Hi Yld Fd	127,306	$2.237M	0.0%	$17.44	—	COM SHS	74433A109
—	Babson Cap Glb Sht Dur Hi Yd Fd	84,032	$2.014M	0.0%	$23.05	—	COM	05617T100
DNN	Denison Mines Corp.	1,245,100	$1.839M	0.0%	$1.41	0.0%	COM	248356107
ALX	Alexander's, Inc.	5,000	$1.805M	0.0%	$293.80	—	COM	014752109
TRNO	Terreno Realty Corp.	82,290	$1.556M	0.0%	$18.53	—	COM	88146M101
—	MFS Intermediate Hi Inc Fd	524,984	$1.549M	0.0%	$2.78	—	SH BEN INT	59318T109
—	Tejon Ranch Co.	372,079	$1.358M	0.0%	$2.76	—	W EXP 08/31/201	879080133
—	Select Income REIT	40,000	$1.211M	0.0%	$27.40	—	COM SH BEN INT	81618T100
—	Texas Pacific Land Trust	8,936	$1.157M	0.0%	$129.48	—	SUB CTF PROP I T	882610108
—	Western Asset Hi Inc Opp Fd	179,449	$1.086M	0.0%	$5.97	—	COM	95766K109
KGC	Kinross Gold Corp.	259,956	$1.076M	0.0%	$5.75	-16.6%	COM NO PAR	496902404
SNY	Sanofi-Aventis	15,706	$821K	0.0%	$51.75	—	SPON ADR	80105N105
KIM	Kimco Realty Corp	26,045	$570K	0.0%	$12.61	-4.0%	COM	49446R109
—	Capital One Financial	15,000	$530K	0.0%	$24.20	—	W EXP 11/14/2018	14040H139
AKR	Acadia Realty Trust	19,999	$528K	0.0%	$24.70	—	COM SH BEN INT	004239109
—	PS Business Parks, Inc.	6,100	$510K	0.0%	$72.13	—	COM	69360J107
—	Brookfield Property Part. L.P	26,692	$499K	0.0%	$19.37	—	UNIT LTD PARTN	G16249107
—	Cedar Shopping Centers Inc.	80,000	$489K	0.0%	$5.18	—	COM	150602209
PLD	Prologis Inc.	8,880	$363K	0.0%	$27.85	-0.8%	COM	74340W103
—	Stanley Furniture Co., Inc.	94,758	$260K	0.0%	$4.00	—	COM	854305208
VOD	Vodafone Group Plc	6,133	$226K	0.0%	$36.85	—	ADR	92857W308
—	Capstead Mortgage Corp.	12,500	$158K	0.0%	$12.08	—	COM NO PAR	14067E506
—	Annaly Capital Mgmt, Inc.	13,215	$145K	0.0%	$12.56	—	COM	035710409