Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WY	Weyerhaeuser Co.	9,374,201	$310M	6.0%	$18.86	+2.3%	COM	962166104
BK	Bank of NY Mellon Corp.	5,028,544	$188M	3.6%	$21.22	+22.9%	COM	064058100
PKX	Posco	2,321,005	$173M	3.3%	$65.13	—	ADR	693483109
DVN	Devon Energy Corp.	2,071,231	$164M	3.2%	$37.00	+32.5%	COM	25179M103
CVCO	Cavco Industries, Inc.	1,726,891	$147M	2.8%	$53.98	+44.2%	COM	149568107
—	Brookfield Asset Mgmt.	3,346,018	$147M	2.8%	$36.02	—	CL A LTD VT SH	112585104
—	Forest City Enter. Inc.	6,967,150	$138M	2.7%	$17.91	—	CL A	345550107
—	Covanta Holding Corp.	6,622,428	$136M	2.6%	$20.02	—	COM	22282E102
—	Apache Corp	1,353,333	$136M	2.6%	$83.62	—	COM	037411105
CMA	Comerica Inc.	2,556,661	$128M	2.5%	$24.62	+30.5%	COM	200340107
WTM	White Mtns Insur. Grp	191,647	$117M	2.2%	$583.63	+2.0%	COM	G9618E107
KEY	Keycorp	7,846,078	$112M	2.2%	$6.48	+36.9%	COM	493267108
INTC	Intel Corporation	3,228,534	$99.76M	1.9%	$17.18	+20.4%	COM	458140100
—	Leucadia National Corp.	3,622,522	$94.98M	1.8%	$26.32	—	COM	527288104
—	Encana Corp.	4,002,220	$94.89M	1.8%	$17.98	—	COM	292505104
—	Alleghany Corp.	216,277	$94.76M	1.8%	$409.51	—	COM	017175100
—	Post Properties Inc.	1,666,333	$89.08M	1.7%	$46.82	—	COM	737464107
LOW	Lowe's Companies Inc.	1,837,346	$88.17M	1.7%	$32.16	+17.7%	COM	548661107
FR	First Indust. Realty Tr, Inc.	4,307,710	$81.16M	1.6%	$15.17	—	COM	32054K103
TRC	Tejon Ranch Co.	2,369,185	$76.26M	1.5%	$27.47	+11.0%	COM	879080109
VNO	Vornado Realty Trust	658,989	$70.33M	1.4%	$82.85	—	SH BEN INT	929042109
—	CommonWealth REIT	2,423,928	$63.8M	1.2%	$24.52	—	COM SH BEN INT	203233101
NVDA	NVIDIA Corp	3,429,718	$63.59M	1.2%	$0.32	+36.5%	COM	67066G104
BKD	Brookdale Sr Living Inc.	1,845,332	$61.52M	1.2%	$27.50	+18.2%	COM	112463104
—	Symantec Corp	2,603,676	$59.62M	1.2%	$22.43	—	COM	871503108
AGCO	AGCO Corp.	1,006,478	$56.58M	1.1%	$43.57	0.0%	COM	001084102
—	HCC Insurance Holdings	1,048,935	$51.34M	1.0%	$43.26	—	COM	404132102
SKT	Tanger Factory Out. Ctrs, Inc.	1,452,448	$50.79M	1.0%	$32.61	—	COM	875465106
—	Axiall Corporation	1,037,796	$49.06M	0.9%	$40.72	—	COM	05463D100
—	Hersha Hospitality Trust	6,273,031	$42.09M	0.8%	$5.59	—	SH BEN INT A	427825104
—	Rofin-Sinar Tech. Inc.	1,699,162	$40.85M	0.8%	$24.99	—	COM	775043102
WKC	World Fuel Services Corp.	825,488	$40.64M	0.8%	$40.80	+12.1%	COM	981475106
PRGS	Progress Software Corp.	1,650,889	$39.69M	0.8%	$22.66	-3.7%	COM	743312100
—	Syntel, Inc.	455,170	$39.13M	0.8%	$70.10	—	COM	87162H103
UNF	UniFirst Corp.	360,951	$38.26M	0.7%	$88.55	+6.0%	COM	904708104
—	SemGroup Corporation	483,807	$38.15M	0.7%	$53.86	—	CL A	81663A105
—	Seacor Holdings Inc.	460,190	$37.85M	0.7%	$82.97	—	COM	811904101
EME	EMCOR Group, Inc.	814,436	$36.27M	0.7%	$37.04	+16.2%	COM	29084Q100
LXU	LSB Industries Inc.	843,645	$35.16M	0.7%	$25.06	+18.8%	COM	502160104
—	Legg Mason Inc.	672,688	$34.52M	0.7%	$43.60	—	COM	524901105
ENS	EnerSys	499,585	$34.37M	0.7%	$42.15	+43.7%	COM	29275Y102
FCN	FTI Consulting Inc.	905,782	$34.26M	0.7%	$35.92	-8.2%	COM	302941109
TTEK	Tetra Tech, Inc.	1,238,251	$34.05M	0.7%	$5.19	+5.5%	COM	88162G103
G	Genpact Ltd.	1,934,499	$33.91M	0.7%	$15.27	+1.2%	COM	G3922B107
MTX	Minerals Technologies Inc.	509,175	$33.39M	0.6%	$39.94	+49.3%	COM	603158106
PB	Prosperity Bancshares Inc.	532,553	$33.34M	0.6%	$45.21	-2.5%	COM	743606105
—	Madison Sq. Garden Inc. .	533,656	$33.33M	0.6%	$60.25	—	CL A	55826P100
—	PNC Fin'l Serv. Gp	1,283,250	$33.2M	0.6%	$15.10	—	W EXP 12/31/2018	693475121
MDRX	Allscripts Healthcare Sol., Inc.	2,025,793	$32.51M	0.6%	$14.38	+8.4%	COM	01988P108
KALU	Kaiser Aluminum Corp.	436,533	$31.81M	0.6%	$43.43	+14.1%	COM PAR $0.01	483007704
—	Multi-Color Corp.	794,921	$31.8M	0.6%	$35.00	—	COM	625383104
IDCC	Interdigital Inc.	648,252	$30.99M	0.6%	$33.88	+14.1%	COM	45867G101
UMBF	UMB Financial Corp.	485,695	$30.79M	0.6%	$57.36	+3.9%	COM	902788108
—	Electronics for Imaging Inc.	661,109	$29.88M	0.6%	$28.29	—	COM	286082102
CSGS	CSG Systems International, Inc.	1,130,753	$29.52M	0.6%	$21.40	-4.6%	COM	126349109
DAR	Darling Int'l Inc.	1,379,021	$28.82M	0.6%	$20.08	+0.4%	COM	237266101
TFX	Telefex Inc.	270,465	$28.56M	0.6%	$72.83	+33.0%	COM	879369106
H	Hyatt Hotels Corp.	464,262	$28.31M	0.5%	$39.79	+40.3%	CL A	448579102
SXC	Suncoke Energy Inc.	1,314,216	$28.26M	0.5%	$20.84	+0.8%	COM	86722A103
CBSH	Commerce Bancshares, Inc	555,166	$25.82M	0.5%	$22.31	+10.0%	COM	200525103
—	Liberty Media Corp.	187,085	$25.57M	0.5%	$126.76	—	CL A	531229102
—	Actuant Corp.	739,062	$25.55M	0.5%	$34.32	—	CL A	00508X203
SCL	Stepan Company	478,486	$25.29M	0.5%	$57.24	-1.9%	COM	858586100
NSIT	Insight Enterprises, Inc.	811,329	$24.94M	0.5%	$20.47	+35.1%	COM	45765U103
WHG	Westwood Holdings Grp Inc.	414,877	$24.91M	0.5%	$43.23	+35.8%	COM	961765104
ALG	Alamo Group, Inc.	444,650	$24.05M	0.5%	$38.15	+31.9%	COM	011311107
—	Patterson Companies Inc	603,465	$23.84M	0.5%	$39.51	—	COM	703395103
—	Precision Drilling Corp,	1,608,288	$22.82M	0.4%	$8.48	—	COM	74022D308
ACGL	Arch Capital Group Ltd.	393,189	$22.59M	0.4%	$16.55	+9.4%	COM	G0450A105
—	PHH Corporation	974,903	$22.4M	0.4%	$25.78	—	COM	693320202
—	Bristow Group Inc.	276,667	$22.3M	0.4%	$65.57	—	COM	110394103
—	Glatfelter P. H. Co.	833,240	$22.11M	0.4%	$25.46	—	COM	377316104
ICFI	ICF International, Inc.	624,812	$22.09M	0.4%	$29.01	+29.7%	COM	44925C103
—	Mantech Intl Corp.	745,371	$22M	0.4%	$26.20	—	CL A	564563104
—	Cubic, Corp.	464,738	$20.68M	0.4%	$48.34	—	COM	229669106
—	Wells Fargo & Co.	938,530	$20.12M	0.4%	$13.67	—	W EXP 10/28/2018	949746119
—	City National Corp.	261,475	$19.81M	0.4%	$63.37	—	COM	178566105
—	Cooper Tire & Rubber Co.	660,100	$19.8M	0.4%	$30.00	—	COM	216831107
—	VCA Antech Inc.	557,312	$19.56M	0.4%	$31.36	—	COM	918194101
RYN	Rayonier Inc.	547,884	$19.48M	0.4%	$45.50	—	COM	754907103
MTN	Vail Resorts Inc.	251,453	$19.41M	0.4%	$62.47	+12.3%	COM	91879Q109
ARCO	Arcos Dorados Holdings, Inc.	1,706,142	$19.11M	0.4%	$8.16	0.0%	COM	G0457F107
—	Ingram Micro Inc.	636,038	$18.58M	0.4%	$20.90	—	CL A	457153104
ABM	ABM Industries Inc	650,038	$17.54M	0.3%	$17.72	+20.9%	COM	000957100
TG	Tredegar Corp.	721,521	$16.89M	0.3%	$13.04	-9.5%	COM	894650100
SMP	Standard Motor Products, Inc.	367,674	$16.42M	0.3%	$40.40	0.0%	COM	853666105
EXLS	ExlService Holdings Inc.	550,283	$16.21M	0.3%	$5.58	+3.6%	COM	302081104
CFR	Cullen Frost Bankers, Inc.	200,830	$15.95M	0.3%	$43.88	+24.8%	COM	229899109
CALM	Cal Maine Foods, Inc.	208,915	$15.53M	0.3%	$15.34	+51.2%	COM	128030202
—	Encore Wire Corporation	315,115	$15.45M	0.3%	$34.10	—	COM	292562105
—	Realogy Holdings Corp.	408,234	$15.39M	0.3%	$37.71	—	COM	75605Y106
—	ERA Group Inc.	519,893	$14.91M	0.3%	$27.04	—	COM	26885G109
—	CST Brands, Inc	431,150	$14.88M	0.3%	$30.65	—	COM	12646R105
—	BlackRock Credit Allctn Inc Tr	1,049,551	$14.43M	0.3%	$13.07	—	COM	092508100
BR	Broadridge Financial Sol. Inc.	342,387	$14.26M	0.3%	$20.36	+55.9%	COM	11133T103
OSK	Oshkosh Corp.	253,609	$14.08M	0.3%	$31.79	+45.0%	COM	688239201
KMT	Kennametal Inc.	295,876	$13.69M	0.3%	$28.75	+17.6%	COM	489170100
—	Blucora, Inc.	678,111	$12.8M	0.2%	$18.73	—	COM	095229100
—	Excel Trust, Inc.	938,591	$12.51M	0.2%	$12.68	—	COM	30068C109
ALCO	Alico, Inc.	325,613	$12.21M	0.2%	$36.42	-14.5%	COM	016230104
AMH	American Homes 4 Rent	686,217	$12.19M	0.2%	$16.20	—	CL A	02665T306
—	Consolidated Tomoka Ld Co.	258,368	$11.86M	0.2%	$38.16	—	COM	210226106
—	Radio One Inc.	2,311,360	$11.39M	0.2%	$3.95	—	CL D NON VTG	75040P405
—	United Stationers Inc	274,511	$11.38M	0.2%	$41.47	—	COM	913004107
—	First Trust Hi Inc Long/Sht Fd	609,023	$11.05M	0.2%	$17.34	—	COM	33738E109
—	AVX Corporation	819,541	$10.88M	0.2%	$11.75	—	COM	002444107
—	Forestar Group Inc.	520,060	$9.928M	0.2%	$19.09	—	COM	346233109
—	Nuveen Credit Strategies Inc Fd	979,439	$9.168M	0.2%	$9.36	—	FUND	67073D102
—	Western Asset Hi Yld Def Opp Fd	510,954	$9.151M	0.2%	$17.82	—	COM	95768B107
—	Forest Oil Corp.	4,000,000	$9.12M	0.2%	$1.91	—	COM	346091705
—	Starz- Liberty Capital	291,574	$8.686M	0.2%	$22.10	—	COM SER A	85571Q102
VLY	Valley National Bancorp	866,857	$8.591M	0.2%	$9.34	+7.5%	COM	919794107
CSWC	Capital Southwest	212,372	$7.648M	0.1%	$4.41	+2.5%	COM	140501107
—	Allied Nevada Gold	1,961,723	$7.376M	0.1%	$3.90	—	COM	019344100
—	Neuberger Berman Hi Yld Strat. Fd	504,626	$6.989M	0.1%	$13.27	—	COM	64128C106
XXHYBXX	New America Hi Inc Fd, Inc	637,883	$6.404M	0.1%	$9.64	—	COM	641876800
—	Ares Dynamic Cr Allocation Fd, Inc.	335,357	$6.107M	0.1%	$17.99	—	COM	04014F102
—	DWS High Inc Opp Fd Inc	393,556	$5.813M	0.1%	$14.18	—	COM	23339M204
—	AK Steel Corp.	711,375	$5.663M	0.1%	$3.04	—	COM	001547108
—	Noranda Aluminum Holding	1,500,000	$5.295M	0.1%	$3.29	—	COM	65542W107
—	PR Wireless	5,000,000	$5M	0.1%	$1.00	—	COM	31681940
—	PIMCO Dynamic Credit Inc. Fd	179,209	$4.269M	0.1%	$22.48	—	COM	72202D106
—	BlackRock Corp Hi Yld Fd III Inc	337,088	$4.143M	0.1%	$12.17	—	COM	09255P107
—	Western Asset Mgd Hi Inc Fd	669,372	$3.882M	0.1%	$5.69	—	COM	95766L107
KELYA	Kelly Services Inc.	225,000	$3.863M	0.1%	$14.88	+13.5%	CL A	488152208
SBSAA	Spanish Broadcasting Sys., Inc	681,637	$3.844M	0.1%	$4.44	+36.4%	CL A	846425833
ALLY	Ally Financial Inc.	139,500	$3.335M	0.1%	$18.86	0.0%	COM	02005N100
FSTR	Foster (LB) Company	58,326	$3.157M	0.1%	$48.79	0.0%	COM	350060109
GM	General Motors Co.	86,467	$3.139M	0.1%	$25.68	+2.4%	COM	37045V100
—	First Trust Strategic Hi IncFd II	188,173	$3.077M	0.1%	$15.94	—	COM SHS NEW	337353304
—	Comerica Inc.	130,000	$2.738M	0.1%	$13.70	—	W EXP 11/14/2018	200340115
VZ	Verizon Comm. Corp.	53,388	$2.612M	0.1%	$25.87	+3.6%	COM	92343V104
—	MFS Intermediate Hi Inc Fd	524,984	$1.543M	0.0%	$2.78	—	SH BEN INT	59318T109
—	Texas Pacific Land Trust	8,748	$1.401M	0.0%	$129.48	—	SUB CTF PROP I T	882610108
—	Select Income REIT	40,000	$1.186M	0.0%	$27.40	—	COM SH BEN INT	81618T100
—	Western Asset Hi Inc Opp Fd	179,449	$1.095M	0.0%	$5.97	—	COM	95766K109
—	Tejon Ranch Co.	372,079	$1.09M	0.0%	$2.76	—	W EXP 08/31/201	879080133
TRNO	Terreno Realty Corp.	42,290	$817K	0.0%	$18.53	—	COM	88146M101
SNY	Sanofi-Aventis	13,402	$713K	0.0%	$51.75	—	SPON ADR	80105N105
—	Capital One Financial	15,000	$608K	0.0%	$24.20	—	W EXP 11/14/2018	14040H139
KIM	Kimco Realty Corp	26,045	$599K	0.0%	$12.61	+3.5%	COM	49446R109
AKR	Acadia Realty Trust	19,999	$562K	0.0%	$24.70	—	COM SH BEN INT	004239109
—	Brookfield Property Part. L.P	26,692	$557K	0.0%	$19.37	—	UNIT LTD PARTN	G16249107
AIG	American Intl Group, Inc.	10,000	$546K	0.0%	$40.41	0.0%	COM	026874784
—	PS Business Parks, Inc.	6,100	$509K	0.0%	$72.13	—	COM	69360J107
—	Cedar Shopping Centers Inc.	80,000	$500K	0.0%	$5.18	—	COM	150602209
PLD	Prologis Inc.	8,880	$365K	0.0%	$27.85	+4.4%	COM	74340W103
—	Capstead Mortgage Corp.	12,500	$164K	0.0%	$12.08	—	COM NO PAR	14067E506
—	Annaly Capital Mgmt, Inc.	13,215	$151K	0.0%	$12.56	—	COM	035710409
—	Stanley Furniture Co., Inc.	24,274	$65,000	0.0%	$4.00	—	COM	854305208
—	Isle of Capri Casinos Inc.	438,455	$0	0.0%	—	—	COM	464592104