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
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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 5,302 587,823 SH   SOLE 0 587,823 0 0
ABM Industries Inc COM 000957100 3,766 103,224 SH   SOLE 0 103,224 0 0
AGCO Corp COM 001084102 32,658 692,928 SH   SOLE 0 692,928 0 0
Alamo Group, Inc. COM 011311107 6,788 102,902 SH   SOLE 0 102,902 0 0
Alico, Inc. COM 016230104 3,924 129,733 SH   SOLE 0 129,733 0 0
Alleghany Corp. COM 017175100 45,602 82,977 SH   SOLE 0 82,977 0 0
Allscripts Healthcare Solutions, Inc. COM 01988P108 2,595 204,351 SH   SOLE 0 204,351 0 0
Amgen Inc. COM 031162100 20,638 135,642 SH   SOLE 0 135,642 0 0
Ani Pharmaceuticals Inc. COM 00182C103 2,794 50,053 SH   SOLE 0 50,053 0 0
Anixter International Inc. COM 035290105 37,871 710,789 SH   SOLE 0 710,789 0 0
Apache Corp COM 037411105 29,174 524,055 SH   SOLE 0 524,055 0 0
Arcos Dorados Holdings, Inc. SHS CL A G0457F107 7,706 1,615,590 SH   SOLE 0 1,615,590 0 0
Bank of New York Mellon Corp. COM 064058100 79,784 2,053,648 SH   SOLE 0 2,053,648 0 0
Barnes Group Inc. COM 067806109 3,372 101,821 SH   SOLE 0 101,821 0 0
Broadridge Financial Solutions Inc. COM 11133T103 3,642 55,866 SH   SOLE 0 55,866 0 0
Brookdale Senior Living Inc. COM 112463104 37,433 2,424,394 SH   SOLE 0 2,424,394 0 0
Brookfield Asset Mgmt. CL A CL A LTD VT SH 112585104 151,795 4,590,109 SH   SOLE 0 4,590,109 0 0
Cambrex Corp. COM 132011107 3,967 76,681 SH   SOLE 0 76,681 0 0
Capital Southwest COM 140501107 2,055 150,348 SH   SOLE 0 150,348 0 0
Carrizo Oil & Gas Inc. COM 144577103 1,681 46,900 SH   SOLE 0 46,900 0 0
Catchmark Timber Trust Inc. REIT 14912Y202 1,246 102,000 SH   SOLE 0 102,000 0 0
Cavco Industries, Inc. COM 149568107 44,763 477,727 SH   SOLE 0 477,727 0 0
CBS Corporation CL B 124857202 45,493 835,662 SH   SOLE 0 835,662 0 0
Century Communities Inc. COM 156504300 2,080 119,974 SH   SOLE 0 119,974 0 0
Circor International Inc. COM 17273K109 2,269 39,819 SH   SOLE 0 39,819 0 0
CNH Industrial NV COM N20944109 3,841 537,178 SH   SOLE 0 537,178 0 0
Comerica Inc 2018 Warrants W EXP 11/14/2018 200340115 1,170 90,000 SH   SOLE 0 90,000 0 0
Comerica Inc. COM 200340107 80,329 1,953,051 SH   SOLE 0 1,953,051 0 0
Commerce Bancshares, Inc COM 200525103 8,485 177,138 SH   SOLE 0 177,138 0 0
Cosan Ltd. CL A G25343107 5,873 902,110 SH   SOLE 0 902,110 0 0
Covanta Holding Corporation COM 22282E102 36,383 2,211,720 SH   SOLE 0 2,211,720 0 0
CSG Systems International, Inc. COM 126349109 2,720 67,467 SH   SOLE 0 67,467 0 0
CST Brands, Inc COM 12646R105 4,199 97,481 SH   SOLE 0 97,481 0 0
CSW Industrials Inc. COM 126402106 4,903 150,348 SH   SOLE 0 150,348 0 0
Cubic, Corp. COM 229669106 6,917 172,224 SH   SOLE 0 172,224 0 0
Cullen Frost Bankers, Inc. COM 229899109 5,246 82,323 SH   SOLE 0 82,323 0 0
Devon Energy Corp. COM 25179M103 36,373 1,003,389 SH   SOLE 0 1,003,389 0 0
Dorman Products, Inc. COM 258278100 5,702 99,690 SH   SOLE 0 99,690 0 0
DST Systems COM 233326107 5,190 44,573 SH   SOLE 0 44,573 0 0
DSW Inc. CL A 23334L102 4,480 211,534 SH   SOLE 0 211,534 0 0
EMCOR Group, Inc. COM 29084Q100 6,265 127,187 SH   SOLE 0 127,187 0 0
EnerSys COM 29275Y102 2,135 35,906 SH   SOLE 0 35,906 0 0
Fiesta Restaurant Group, Inc. COM 31660B101 2,495 114,406 SH   SOLE 0 114,406 0 0
First Industrial Realty Trust, Inc. COM 32054K103 85,959 3,089,843 SH   SOLE 0 3,089,843 0 0
First Potomac Realty Trust COM 33610F109 1,075 116,900 SH   SOLE 0 116,900 0 0
FNF Group COM 31620R303 28,061 748,300 SH   SOLE 0 748,300 0 0
Forest City Enterprises Inc. CL A CL A 345605109 121,021 5,424,508 SH   SOLE 0 5,424,508 0 0
Forest City Enterprises Inc. CL B CL B CONV 345605208 16 702 SH   SOLE 0 702 0 0
FTI Consulting Inc. COM 302941109 7,876 193,597 SH   SOLE 0 193,597 0 0
General Motors Co. COM 37045V100 19,012 671,819 SH   SOLE 0 671,819 0 0
Genpact Ltd. COM G3922B107 5,588 208,196 SH   SOLE 0 208,196 0 0
G-III Apparel Group Ltd. COM 36237H101 4,085 89,353 SH   SOLE 0 89,353 0 0
Glatfelter P. H. Co. COM 377316104 911 46,589 SH   SOLE 0 46,589 0 0
Harman International Industries, Inc. COM 413086109 28,779 400,716 SH   SOLE 0 400,716 0 0
ICF International, Inc. COM 44925C103 7,817 191,129 SH   SOLE 0 191,129 0 0
Ingram Micro Inc. CL A 457153104 3,849 110,658 SH   SOLE 0 110,658 0 0
Insight Enterprises, Inc. COM 45765U103 5,733 220,515 SH   SOLE 0 220,515 0 0
Interface Inc. COM 458665304 3,803 249,370 SH   SOLE 0 249,370 0 0
Johnson Controls Inc. COM 478366107 26,753 604,458 SH   SOLE 0 604,458 0 0
Kaiser Aluminum Corp. COM PAR $0.01 483007704 4,354 48,157 SH   SOLE 0 48,157 0 0
Kennedy-Wilson Holdings Inc. COM 489398107 26,137 1,378,512 SH   SOLE 0 1,378,512 0 0
Keycorp COM 493267108 15,960 1,444,346 SH   SOLE 0 1,444,346 0 0
Kirby Corporation COM 497266106 5,561 89,134 SH   SOLE 0 89,134 0 0
Legg Mason Inc. COM 524901105 3,080 104,455 SH   SOLE 0 104,455 0 0
Lennar Corp. CL A 526057104 49,032 1,063,600 SH   SOLE 0 1,063,600 0 0
Leucadia National Corporation COM 527288104 3,943 227,515 SH   SOLE 0 227,515 0 0
Livanova PLC COM G5509L101 13,460 267,977 SH   SOLE 0 267,977 0 0
Lowe's Companies Inc. COM 548661107 50,036 632,011 SH   SOLE 0 632,011 0 0
Masco Corp. COM 574599106 30,647 990,521 SH   SOLE 0 990,521 0 0
Multi-Color Corporation COM 625383104 8,212 129,533 SH   SOLE 0 129,533 0 0
MYR Group Inc. COM 55405W104 2,801 116,310 SH   SOLE 0 116,310 0 0
Netscout Systems Inc. COM 64115T104 6,014 270,281 SH   SOLE 0 270,281 0 0
NEXPOINT RESIDNL TR EQUITY 65341D102 455 25,000 SH   SOLE 0 25,000 0 0
Patterson Companies Inc COM 703395103 5,236 109,335 SH   SOLE 0 109,335 0 0
PNC Financial Corp COM 693475105 52,341 643,084 SH   SOLE 0 643,084 0 0
PNC Financial Services Group 2018 Warrants W EXP 12/31/2018 693475121 42,718 2,452,249 SH   SOLE 0 2,452,249 0 0
Progress Software Corporation COM 743312100 3,098 112,816 SH   SOLE 0 112,816 0 0
Prosperity Bancshares Inc. COM 743606105 5,219 102,362 SH   SOLE 0 102,362 0 0
Radio One Inc Cl D CL D NON VTG 75040P405 6,788 2,127,789 SH   SOLE 0 2,127,789 0 0
Ralph Lauren Corp. CL A 751212101 24,630 274,832 SH   SOLE 0 274,832 0 0
Rayonier Inc. COM 754907103 101,931 3,884,570 SH   SOLE 0 3,884,570 0 0
Seaboard Corp. COM 811543107 2,578 898 SH   SOLE 0 898 0 0
SemGroup Corporation - CL A CL A 81663A105 3,695 113,491 SH   SOLE 0 113,491 0 0
Shire Plc - ADR ADR 82481R106 8,806 47,840 SH   SOLE 0 47,840 0 0
Southside Bancshares Inc. COM 84470P109 6,880 222,515 SH   SOLE 0 222,515 0 0
Spanish Broadcasting System, Inc CL A 846425833 2,277 639,603 SH   SOLE 0 639,603 0 0
SPX Flow Inc. COM 78469X107 1,763 67,624 SH   SOLE 0 67,624 0 0
Standard Motor Products, Inc. COM 853666105 6,121 153,870 SH   SOLE 0 153,870 0 0
Syntel, Inc. COM 87162H103 5,327 117,688 SH   SOLE 0 117,688 0 0
Tanger Factory Outlet Centers, Inc COM 875465106 3,526 87,762 SH   SOLE 0 87,762 0 0
Tejon Ranch Co. COM 879080109 53,177 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 6,160 34,743 SH   SOLE 0 34,743 0 0
Tetra Tech, Inc. COM 88162G103 4,607 149,836 SH   SOLE 0 149,836 0 0
The Macerich Company COM 554382101 90,061 1,054,701 SH   SOLE 0 1,054,701 0 0
Total Fina ELF S A ADR ADR 89151E109 135 2,807 SH   SOLE 0 2,807 0 0
Trinity Place Holdings COM 89656D101 98 12,729 SH   SOLE 0 12,729 0 0
UCP Inc. - Class A CL A 90265Y106 2,246 280,000 SH   SOLE 0 280,000 0 0
UMB Financial Corporation COM 902788108 7,554 141,973 SH   SOLE 0 141,973 0 0
UniFirst Corporation COM 904708104 4,543 39,261 SH   SOLE 0 39,261 0 0
Vail Resorts Inc. COM 91879Q109 4,416 31,948 SH   SOLE 0 31,948 0 0
Valley National Bancorp COM 919794107 6,630 726,953 SH   SOLE 0 726,953 0 0
Valmont Industries COM 920253101 497 3,675 SH   SOLE 0 3,675 0 0
VCA Antech Inc. COM 918194101 6,324 93,539 SH   SOLE 0 93,539 0 0
Viad Corp. COM 92552R406 6,071 195,838 SH   SOLE 0 195,838 0 0
Visteon Corp. COM 92839U206 8,507 129,268 SH   SOLE 0 129,268 0 0
Vodafone Group Plc - ADR ADR 92857W308 86 2,770 SH   SOLE 0 2,770 0 0
Vornado Realty Trust SH BEN INT 929042109 73,369 732,814 SH   SOLE 0 732,814 0 0
WCI Communities Inc. COM 92923C807 8,875 525,154 SH   SOLE 0 525,154 0 0
Weyerhaeuser Company COM 962166104 196,786 6,610,196 SH   SOLE 0 6,610,196 0 0
White Mountains Insurance Group COM G9618E107 57,584 68,390 SH   SOLE 0 68,390 0 0
WMI Holdings Corp. COM 92936P100 617 277,706 SH   SOLE 0 277,706 0 0
World Fuel Services Corp COM 981475106 5,855 123,282 SH   SOLE 0 123,282 0 0
Zions Bancorporation COM 989701107 51,483 2,048,658 SH   SOLE 0 2,048,658 0 0