The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1-800-Flowers.com Inc. CL A 68243Q106 5,059 642,023 SH   SOLE 0 642,023 0 0
ABM Industries Inc COM 000957100 3,335 103,224 SH   SOLE 0 103,224 0 0
AGCO Corp COM 001084102 35,302 710,300 SH   SOLE 0 708,343 0 1,957
Alamo Group, Inc. COM 011311107 6,930 124,402 SH   SOLE 0 124,402 0 0
Alico, Inc. COM 016230104 3,582 129,733 SH   SOLE 0 129,733 0 0
Alleghany Corp. COM 017175100 42,903 86,464 SH   SOLE 0 86,409 0 55
Allscripts Healthcare Solutions, Inc. COM 01988P108 2,699 204,351 SH   SOLE 0 204,351 0 0
Ani Pharmaceuticals Inc. COM 00182C103 1,685 50,053 SH   SOLE 0 50,053 0 0
Anixter International Inc. COM 035290105 37,515 719,910 SH   SOLE 0 718,889 0 1,021
Apache Corp COM 037411105 49,124 1,006,432 SH   SOLE 0 1,003,809 0 2,623
Arcos Dorados Holdings, Inc. SHS CL A G0457F107 6,065 1,617,289 SH   SOLE 0 1,617,289 0 0
Bank of New York Mellon Corp. COM 064058100 90,253 2,450,542 SH   SOLE 0 2,445,248 0 5,294
Barnes Group Inc. COM 067806109 3,249 92,749 SH   SOLE 0 92,749 0 0
Baxalta Inc. COM 07177M103 21,061 521,322 SH   SOLE 0 520,063 0 1,259
Broadridge Financial Solutions Inc. COM 11133T103 6,452 108,778 SH   SOLE 0 108,778 0 0
Brookdale Senior Living Inc. COM 112463104 39,253 2,471,848 SH   SOLE 0 2,466,486 0 5,362
Brookfield Asset Mgmt. CL A CL A LTD VT SH 112585104 164,805 4,737,134 SH   SOLE 0 4,733,865 0 3,269
Cambrex Corp. COM 132011107 3,374 76,681 SH   SOLE 0 76,681 0 0
Capital Southwest COM 140501107 2,085 150,348 SH   SOLE 0 150,348 0 0
Carrizo Oil & Gas Inc. COM 144577103 1,450 46,900 SH   SOLE 0 46,900 0 0
Catchmark Timber Trust Inc. REIT 14912Y202 1,721 158,900 SH   SOLE 0 158,900 0 0
Cavco Industries, Inc. (COM & Restricted) COM 149568107 68,201 729,734 SH   SOLE 0 729,734 0 0
CBS Corporation CL B 124857202 50,794 922,021 SH   SOLE 0 919,646 0 2,375
Century Communities Inc. COM 156504300 2,261 132,474 SH   SOLE 0 132,474 0 0
Circor International Inc. COM 17273K109 1,847 39,819 SH   SOLE 0 39,819 0 0
CNH Industrial NV COM N20944109 3,631 537,178 SH   SOLE 0 537,178 0 0
Comerica Inc 2018 Warrants W EXP 11/14/2018 200340115 1,334 100,000 SH   SOLE 0 100,000 0 0
Comerica Inc. COM 200340107 78,279 2,067,054 SH   SOLE 0 2,062,624 0 4,430
Commerce Bancshares, Inc COM 200525103 8,479 188,638 SH   SOLE 0 188,638 0 0
Cosan Ltd. CL A G25343107 5,807 1,180,246 SH   SOLE 0 1,180,246 0 0
Covanta Holding Corporation COM 22282E102 47,490 2,816,718 SH   SOLE 0 2,808,576 0 8,142
CSG Systems International, Inc. COM 126349109 4,611 102,093 SH   SOLE 0 102,093 0 0
CST Brands, Inc COM 12646R105 5,655 147,683 SH   SOLE 0 147,683 0 0
CSW Industrials Inc. COM 126402106 4,736 150,348 SH   SOLE 0 150,348 0 0
Cubic, Corp. COM 229669106 6,287 157,327 SH   SOLE 0 157,327 0 0
Cullen Frost Bankers, Inc. COM 229899109 4,537 82,323 SH   SOLE 0 82,323 0 0
Devon Energy Corp. COM 25179M103 28,391 1,034,672 SH   SOLE 0 1,031,075 0 3,597
Dorman Products, Inc. COM 258278100 5,971 109,728 SH   SOLE 0 109,728 0 0
DST Systems COM 233326107 5,026 44,573 SH   SOLE 0 44,573 0 0
DSW Inc. CL A 23334L102 4,847 175,377 SH   SOLE 0 175,377 0 0
EMCOR Group, Inc. COM 29084Q100 6,181 127,187 SH   SOLE 0 127,187 0 0
EnerSys COM 29275Y102 2,001 35,906 SH   SOLE 0 35,906 0 0
Equity Commonwealth COM 294628102 51,592 1,828,204 SH   SOLE 0 1,828,204 0 0
First Industrial Realty Trust, Inc. COM 32054K103 100,657 4,426,443 SH   SOLE 0 4,426,443 0 0
First Potomac Realty Trust COM 33610F109 1,314 145,000 SH   SOLE 0 145,000 0 0
FNF Group COM 31620R303 26,784 790,100 SH   SOLE 0 790,100 0 0
Forest City Enterprises Inc. CL A CL A 345605109 119,406 5,661,733 SH   SOLE 0 5,661,733 0 0
Forest City Enterprises Inc. CL B CL B CONV 345605208 15 702 SH   SOLE 0 702 0 0
FTI Consulting Inc. COM 302941109 8,380 235,986 SH   SOLE 0 235,986 0 0
General Motors Co. COM 37045V100 21,603 687,348 SH   SOLE 0 685,565 0 1,783
Genpact Ltd. COM G3922B107 7,949 292,342 SH   SOLE 0 292,342 0 0
Glatfelter P. H. Co. COM 377316104 966 46,589 SH   SOLE 0 46,589 0 0
Harman International Industries, Inc. COM 413086109 24,864 279,242 SH   SOLE 0 278,554 0 688
Hercules Offshore, Inc. Equity 427093307 1,950 812,533 SH   SOLE 0 812,533 0 0
Howard Hughes Corporation COM 44267D107 24,948 235,600 SH   SOLE 0 235,600 0 0
ICF International, Inc. COM 44925C103 6,569 191,129 SH   SOLE 0 191,129 0 0
Ingram Micro Inc. CL A 457153104 5,015 139,651 SH   SOLE 0 139,651 0 0
Insight Enterprises, Inc. COM 45765U103 8,538 298,115 SH   SOLE 0 298,115 0 0
Interface Inc. COM 458665304 1,543 83,211 SH   SOLE 0 83,211 0 0
Kaiser Aluminum Corp. COM PAR $0.01 483007704 4,071 48,157 SH   SOLE 0 48,157 0 0
Kennedy-Wilson Holdings Inc. COM 489398107 31,567 1,441,412 SH   SOLE 0 1,441,412 0 0
Keycorp COM 493267108 16,529 1,497,210 SH   SOLE 0 1,490,932 0 6,278
Kirby Corporation COM 497266106 5,374 89,134 SH   SOLE 0 89,134 0 0
Legg Mason Inc. COM 524901105 3,622 104,455 SH   SOLE 0 104,455 0 0
Lennar Corp. CL A 526057104 54,308 1,123,000 SH   SOLE 0 1,123,000 0 0
Leucadia National Corporation COM 527288104 4,049 250,384 SH   SOLE 0 250,384 0 0
Lowe's Companies Inc. COM 548661107 71,463 943,411 SH   SOLE 0 943,411 0 0
Masco Corp. COM 574599106 44,829 1,425,398 SH   SOLE 0 1,421,281 0 4,117
Multi-Color Corporation COM 625383104 6,911 129,533 SH   SOLE 0 129,533 0 0
MYR Group Inc. COM 55405W104 2,921 116,310 SH   SOLE 0 116,310 0 0
Patterson Companies Inc COM 703395103 5,087 109,335 SH   SOLE 0 109,335 0 0
PNC Financial Corp COM 693475105 60,251 712,442 SH   SOLE 0 711,082 0 1,360
PNC Financial Services Group 2018 Warrants W EXP 12/31/2018 693475121 49,805 2,452,249 SH   SOLE 0 2,452,249 0 0
Post Properties Inc. COM 737464107 47,711 798,642 SH   SOLE 0 798,642 0 0
Progress Software Corporation COM 743312100 3,684 152,718 SH   SOLE 0 152,718 0 0
Prosperity Bancshares Inc. COM 743606105 4,749 102,362 SH   SOLE 0 102,362 0 0
Radio One Inc Cl D CL D NON VTG 75040P405 3,043 2,127,789 SH   SOLE 0 2,127,789 0 0
Ralph Lauren Corp. CL A 751212101 22,030 228,864 SH   SOLE 0 228,273 0 591
Rayonier Inc. COM 754907103 101,091 4,096,070 SH   SOLE 0 4,096,070 0 0
Seaboard Corp. COM 811543107 57 19 SH   SOLE 0 19 0 0
SemGroup Corporation - CL A CL A 81663A105 2,542 113,491 SH   SOLE 0 113,491 0 0
Southside Bancshares Inc. COM 84470P109 5,525 211,920 SH   SOLE 0 211,920 0 0
Spanish Broadcasting System, Inc CL A 846425833 2,143 639,603 SH   SOLE 0 639,603 0 0
SPX Flow Inc. COM 78469X107 1,696 67,624 SH   SOLE 0 67,624 0 0
Standard Motor Products, Inc. COM 853666105 5,948 171,670 SH   SOLE 0 171,670 0 0
Symantec Corp COM 871503108 27,766 1,510,674 SH   SOLE 0 1,508,433 0 2,241
Syntel, Inc. COM 87162H103 5,605 112,250 SH   SOLE 0 112,250 0 0
Tanger Factory Outlet Centers, Inc COM 875465106 52,348 1,438,525 SH   SOLE 0 1,438,525 0 0
Tejon Ranch Co. COM 879080109 46,271 2,249,464 SH   SOLE 0 2,249,464 0 0
Tejon Ranch Co. WTS EXP 08/31/2016 W EXP 08/31/2016 879080133 0 352,189 SH   SOLE 0 352,189 0 0
Telefex Inc. COM 879369106 6,038 38,457 SH   SOLE 0 38,457 0 0
Tetra Tech, Inc. COM 88162G103 8,056 270,165 SH   SOLE 0 270,165 0 0
The Macerich Company COM 554382101 109,137 1,377,301 SH   SOLE 0 1,377,301 0 0
Total Fina ELF S A ADR ADR 89151E109 139 3,056 SH   SOLE 0 3,056 0 0
Trinity Place Holdings COM 89656D101 42 6,029 SH   SOLE 0 6,029 0 0
UCP Inc. - Class A CL A 90265Y106 2,734 340,000 SH   SOLE 0 340,000 0 0
UMB Financial Corporation COM 902788108 7,759 150,273 SH   SOLE 0 150,273 0 0
UniFirst Corporation COM 904708104 4,284 39,261 SH   SOLE 0 39,261 0 0
Vail Resorts Inc. COM 91879Q109 4,271 31,948 SH   SOLE 0 31,948 0 0
Valley National Bancorp COM 919794107 6,935 726,953 SH   SOLE 0 726,953 0 0
Valmont Industries COM 920253101 1,022 8,255 SH   SOLE 0 7,903 0 352
VCA Antech Inc. COM 918194101 7,649 132,590 SH   SOLE 0 132,590 0 0
Viad Corp. COM 92552R406 6,306 216,238 SH   SOLE 0 216,238 0 0
Visteon Corp. COM 92839U206 10,288 129,268 SH   SOLE 0 129,268 0 0
Vodafone Group Plc - ADR ADR 92857W308 101 3,159 SH   SOLE 0 3,159 0 0
Vornado Realty Trust SH BEN INT 929042109 72,920 772,214 SH   SOLE 0 772,214 0 0
WCI Communities Inc. COM 92923C807 8,163 439,331 SH   SOLE 0 439,331 0 0
Wells Fargo & Co. 2018 Warrants W EXP 10/28/2018 949746119 18,112 1,156,551 SH   SOLE 0 1,156,551 0 0
Wells Fargo & Co. NEW COM 949746101 2,014 41,637 SH   SOLE 0 41,637 0 0
Weyerhaeuser Company COM 962166104 227,614 7,347,132 SH   SOLE 0 7,338,658 0 8,474
White Mountains Insurance Group COM G9618E107 58,075 72,359 SH   SOLE 0 72,215 0 144
WMI Holdings Corp, COM 92936P100 650 277,706 SH   SOLE 0 277,706 0 0
World Fuel Services Corp COM 981475106 5,989 123,282 SH   SOLE 0 123,282 0 0
Zions Bancorporation COM 989701107 52,356 2,162,558 SH   SOLE 0 2,162,558 0 0