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 4,672 641,691 SH   SOLE 0 641,691 0 0
ABM Industries Inc COM 000957100 2,937 103,176 SH   SOLE 0 103,176 0 0
AGCO Corp COM 001084102 54,163 1,193,288 SH   SOLE 0 1,190,990 0 2,298
AGCO Corp COM 001084102 10,018 220,700 SH   OTR 1 220,700 0 0
Alamo Group, Inc. COM 011311107 7,200 138,202 SH   SOLE 0 138,202 0 0
Alico, Inc. COM 016230104 5,011 129,521 SH   SOLE 0 129,521 0 0
Alleghany Corp. COM 017175100 43,025 90,024 SH   SOLE 0 89,969 0 55
Allscripts Healthcare Solutions, Inc. COM 01988P108 4,576 297,524 SH   SOLE 0 297,524 0 0
Ani Pharmaceuticals Inc. COM 00182C103 2,259 50,053 SH   SOLE 0 50,053 0 0
Anixter International Inc. COM 035290105 43,146 714,464 SH   SOLE 0 713,443 0 1,021
Anixter International Inc. COM 035290105 7,500 124,200 SH   OTR 1 124,200 0 0
Apache Corp COM 037411105 52,011 1,169,579 SH   SOLE 0 1,166,956 0 2,623
Apache Corp COM 037411105 7,571 170,255 SH   OTR 1 170,255 0 0
Arcos Dorados Holdings, Inc. SHS CL A G0457F107 5,416 1,741,451 SH   SOLE 0 1,741,451 0 0
Bank of New York Mellon Corp. COM 064058100 105,883 2,568,733 SH   SOLE 0 2,563,439 0 5,294
Bank of New York Mellon Corp. COM 064058100 14,014 339,990 SH   OTR 1 339,990 0 0
Barnes Group Inc. COM 067806109 7,572 213,965 SH   SOLE 0 213,965 0 0
Baxalta Inc. COM 07177M103 20,391 522,437 SH   SOLE 0 521,178 0 1,259
BMC STOCK HOLDINGS Equity 05591B109 3,505 209,240 SH   SOLE 0 209,240 0 0
Broadridge Financial Solutions Inc. COM 11133T103 5,842 108,725 SH   SOLE 0 108,725 0 0
Brookdale Senior Living Inc. COM 112463104 53,830 2,916,032 SH   SOLE 0 2,911,915 0 4,117
Brookdale Senior Living Inc. COM 112463104 3,600 194,999 SH   OTR 1 194,999 0 0
Brookfield Asset Mgmt. CL A CL A LTD VT SH 112585104 135,395 4,294,167 SH   SOLE 0 4,291,410 0 2,757
Brookfield Asset Mgmt. CL A CL A LTD VT SH 112585104 929 29,473 SH   OTR 1 29,473 0 0
Capital Southwest COM 140501107 2,087 150,348 SH   SOLE 0 150,348 0 0
Catchmark Timber Trust Inc. REIT 14912Y202 1,797 158,900 SH   SOLE 0 158,900 0 0
Cavco Industries, Inc. COM 149568107 79,769 957,501 SH   SOLE 0 957,501 0 0
CBS Corporation CL B 124857202 61,007 1,294,442 SH   SOLE 0 1,292,067 0 2,375
CBS Corporation CL B 124857202 9,615 204,000 SH   OTR 1 204,000 0 0
Century Communities Inc. COM 156504300 2,346 132,474 SH   SOLE 0 132,474 0 0
Circor International Inc. COM 17273K109 3,520 83,514 SH   SOLE 0 83,514 0 0
CNH Industrial NV COM N20944109 4,109 600,777 SH   SOLE 0 600,777 0 0
Comerica Inc 2018 Warrants W EXP 11/14/2018 200340115 1,401 100,000 SH   SOLE 0 100,000 0 0
Comerica Inc. COM 200340107 91,449 2,186,215 SH   SOLE 0 2,181,785 0 4,430
Comerica Inc. COM 200340107 12,116 289,658 SH   OTR 1 289,658 0 0
Commerce Bancshares, Inc COM 200525103 8,020 188,533 SH   SOLE 0 188,533 0 0
Cosan Ltd. CL A G25343107 4,174 1,131,119 SH   SOLE 0 1,131,119 0 0
Covanta Holding Corporation COM 22282E102 55,628 3,591,212 SH   SOLE 0 3,583,070 0 8,142
Covanta Holding Corporation COM 22282E102 507 32,700 SH   OTR 1 32,700 0 0
CSG Systems International, Inc. COM 126349109 7,688 213,678 SH   SOLE 0 213,678 0 0
CST Brands, Inc COM 12646R105 6,356 162,381 SH   SOLE 0 162,381 0 0
Cubic, Corp. COM 229669106 6,684 141,456 SH   SOLE 0 141,456 0 0
Cullen Frost Bankers, Inc. COM 229899109 5,966 99,434 SH   SOLE 0 99,434 0 0
Devon Energy Corp. COM 25179M103 26,996 843,631 SH   SOLE 0 841,472 0 2,159
Devon Energy Corp. COM 25179M103 8,100 253,116 SH   OTR 1 253,116 0 0
Dorman Products, Inc. COM 258278100 7,352 154,880 SH   SOLE 0 154,880 0 0
DST Systems COM 233326107 5,079 44,525 SH   SOLE 0 44,525 0 0
DSW Inc. CL A 23334L102 7,176 300,765 SH   SOLE 0 300,765 0 0
EMCOR Group, Inc. COM 29084Q100 6,843 142,448 SH   SOLE 0 142,448 0 0
EnerSys COM 29275Y102 2,607 46,616 SH   SOLE 0 46,616 0 0
Equity Commonwealth COM 294628102 94,182 3,396,404 SH   SOLE 0 3,396,404 0 0
Equity Commonwealth COM 294628102 1,161 41,876 SH   OTR 1 41,876 0 0
First Industrial Realty Trust, Inc. COM 32054K103 140,024 6,327,343 SH   SOLE 0 6,327,343 0 0
First Industrial Realty Trust, Inc. COM 32054K103 2,124 95,985 SH   OTR 1 95,985 0 0
First Potomac Realty Trust COM 33610F109 1,653 145,000 SH   SOLE 0 145,000 0 0
Forest City Enterprises Inc. CL A CL A 345550107 151,231 6,896,101 SH   SOLE 0 6,896,101 0 0
Forest City Enterprises Inc. CL A CL A 345550107 2,145 97,801 SH   OTR 1 97,801 0 0
FTI Consulting Inc. COM 302941109 8,175 235,869 SH   SOLE 0 235,869 0 0
General Motors Co. COM 37045V100 49,588 1,458,043 SH   SOLE 0 1,455,540 0 2,503
Genpact Ltd. COM G3922B107 8,027 321,342 SH   SOLE 0 321,342 0 0
Glatfelter P. H. Co. COM 377316104 2,050 111,171 SH   SOLE 0 111,171 0 0
HERCULES OFFSHORE Equity 427093307 1,763 812,533 SH   SOLE 0 812,533 0 0
ICF International, Inc. COM 44925C103 6,791 190,965 SH   SOLE 0 190,965 0 0
Ingram Micro Inc. CL A 457153104 6,337 208,602 SH   SOLE 0 208,602 0 0
Insight Enterprises, Inc. COM 45765U103 7,489 298,115 SH   SOLE 0 298,115 0 0
ISHARES RUSSELL 1000 GROWTH ETF ETF 464287663 300 2,356 SH   SOLE 0 2,356 0 0
Kaiser Aluminum Corp. COM PAR $0.01 483007704 7,551 90,260 SH   SOLE 0 90,260 0 0
Kennedy-Wilson Holdings Inc. COM 489398107 12,907 536,000 SH   SOLE 0 536,000 0 0
Kennedy-Wilson Holdings Inc. COM 489398107 164 6,800 SH   OTR 1 6,800 0 0
Keycorp COM 493267108 19,822 1,502,820 SH   SOLE 0 1,496,542 0 6,278
Kirby Corporation COM 497266106 9,690 184,154 SH   SOLE 0 184,154 0 0
Legg Mason Inc. COM 524901105 4,098 104,455 SH   SOLE 0 104,455 0 0
Leucadia National Corporation COM 527288104 4,002 230,155 SH   SOLE 0 230,155 0 0
Loews Corporation COM 540424108 26,946 701,723 SH   SOLE 0 699,598 0 2,125
Lowe's Companies Inc. COM 548661107 89,568 1,177,911 SH   SOLE 0 1,177,911 0 0
Lowe's Companies Inc. COM 548661107 908 11,940 SH   OTR 1 11,940 0 0
Masco Corp. COM 574599106 43,250 1,528,258 SH   SOLE 0 1,524,603 0 3,655
Multi-Color Corporation COM 625383104 5,673 94,842 SH   SOLE 0 94,842 0 0
MYR Group Inc. COM 55405W104 2,396 116,260 SH   SOLE 0 116,260 0 0
Noranda Aluminum Holding COM 65542W107 107 333,434 SH   SOLE 0 333,434 0 0
Patterson Companies Inc COM 703395103 4,943 109,335 SH   SOLE 0 109,335 0 0
PNC Financial Corp COM 693475105 67,113 704,154 SH   SOLE 0 702,794 0 1,360
PNC Financial Services Group 2018 Warrants W EXP 12/31/2018 693475121 70,404 2,452,249 SH   SOLE 0 2,452,249 0 0
PNC Financial Services Group 2018 Warrants W EXP 12/31/2018 693475121 727 25,305 SH   OTR 1 25,305 0 0
Posco ADR ADR 693483109 13,859 391,953 SH   SOLE 0 390,185 0 1,768
Posco ADR ADR 693483109 9,190 259,912 SH   OTR 1 259,912 0 0
Post Properties Inc. COM 737464107 71,835 1,214,242 SH   SOLE 0 1,214,242 0 0
Post Properties Inc. COM 737464107 734 12,409 SH   OTR 1 12,409 0 0
Progress Software Corporation COM 743312100 5,462 227,592 SH   SOLE 0 227,592 0 0
Prosperity Bancshares Inc. COM 743606105 5,919 123,681 SH   SOLE 0 123,681 0 0
Radio One Inc Cl D CL D NON VTG 75040P405 3,660 2,127,789 SH   SOLE 0 2,127,789 0 0
Rayonier Inc. COM 754907103 113,306 5,103,870 SH   SOLE 0 5,103,870 0 0
Rayonier Inc. COM 754907103 1,252 56,400 SH   OTR 1 56,400 0 0
SemGroup Corporation - CL A CL A 81663A105 4,107 142,302 SH   SOLE 0 142,302 0 0
Southside Bancshares Inc. COM 84470P109 4,747 197,624 SH   SOLE 0 197,624 0 0
Spanish Broadcasting System, Inc CL A 846425833 2,168 669,212 SH   SOLE 0 669,212 0 0
SPDR TR UNIT SER 1 ETF 78462F103 303 1,487 SH   SOLE 0 1,487 0 0
SPX Flow Inc. COM 78469X107 3,151 112,915 SH   SOLE 0 112,915 0 0
Standard Motor Products, Inc. COM 853666105 7,151 187,940 SH   SOLE 0 187,940 0 0
Symantec Corp COM 871503108 46,617 2,219,838 SH   SOLE 0 2,217,597 0 2,241
Syntel, Inc. COM 87162H103 7,255 160,322 SH   SOLE 0 160,322 0 0
Tanger Factory Outlet Centers, Inc COM 875465106 67,772 2,072,525 SH   SOLE 0 2,072,525 0 0
Tanger Factory Outlet Centers, Inc COM 875465106 660 20,196 SH   OTR 1 20,196 0 0
Tejon Ranch Co. COM 879080109 43,126 2,251,988 SH   SOLE 0 2,251,988 0 0
Tejon Ranch Co. COM 879080109 224 11,682 SH   OTR 1 11,682 0 0
Tejon Ranch Co. WTS EXP 08/31/2016 W EXP 08/31/2016 879080133 3 352,189 SH   SOLE 0 352,189 0 0
Tejon Ranch Co. WTS EXP 08/31/2016 W EXP 08/31/2016 879080133 0 2,729 SH   OTR 1 2,729 0 0
Telefex Inc. COM 879369106 6,041 45,957 SH   SOLE 0 45,957 0 0
Tetra Tech, Inc. COM 88162G103 7,027 270,075 SH   SOLE 0 270,075 0 0
The Macerich Company COM 554382101 143,564 1,779,201 SH   SOLE 0 1,779,201 0 0
The Macerich Company COM 554382101 2,149 26,630 SH   OTR 1 26,630 0 0
Total Fina ELF S A ADR ADR 89151E109 137 3,056 SH   SOLE 0 3,056 0 0
UCP Inc. - Class A CL A 90265Y106 2,448 340,000 SH   SOLE 0 340,000 0 0
UMB Financial Corporation COM 902788108 7,442 159,873 SH   SOLE 0 159,873 0 0
UniFirst Corporation COM 904708104 3,753 36,021 SH   SOLE 0 36,021 0 0
Vail Resorts Inc. COM 91879Q109 4,577 35,762 SH   SOLE 0 35,762 0 0
Valley National Bancorp COM 919794107 7,155 726,392 SH   SOLE 0 726,392 0 0
Valmont Industries COM 920253101 900 8,489 SH   SOLE 0 8,137 0 352
VCA Antech Inc. COM 918194101 7,292 132,590 SH   SOLE 0 132,590 0 0
Viad Corp. COM 92552R406 6,144 217,637 SH   SOLE 0 217,637 0 0
Visteon Corp. COM 92839U206 14,145 123,533 SH   SOLE 0 123,533 0 0
Vodafone Group Plc - ADR ADR 92857W308 102 3,159 SH   SOLE 0 3,159 0 0
Vornado Realty Trust SH BEN INT 929042109 122,272 1,223,214 SH   SOLE 0 1,223,214 0 0
Vornado Realty Trust SH BEN INT 929042109 1,291 12,911 SH   OTR 1 12,911 0 0
WCI Communities Inc. COM 92923C807 10,695 480,015 SH   SOLE 0 480,015 0 0
Wells Fargo & Co. 2018 Warrants W EXP 10/28/2018 949746119 23,698 1,156,551 SH   SOLE 0 1,156,551 0 0
Wells Fargo & Co. 2018 Warrants W EXP 10/28/2018 949746119 261 12,752 SH   OTR 1 12,752 0 0
Wells Fargo & Co. NEW COM 949746101 2,263 41,637 SH   SOLE 0 41,637 0 0
Weyerhaeuser Company COM 962166104 256,107 8,542,587 SH   SOLE 0 8,534,113 0 8,474
Weyerhaeuser Company COM 962166104 18,062 602,466 SH   OTR 1 602,466 0 0
White Mountains Insurance Group COM G9618E107 64,895 89,287 SH   SOLE 0 89,143 0 144
WMI Holdings Corp, COM 92936P100 719 277,706 SH   SOLE 0 277,706 0 0
World Fuel Services Corp COM 981475106 7,140 185,651 SH   SOLE 0 185,651 0 0
Zions Bancorporation COM 989701107 73,575 2,695,058 SH   SOLE 0 2,695,058 0 0
Zions Bancorporation COM 989701107 786 28,800 SH   OTR 1 28,800 0 0