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
ABM Industries Inc COM 000957100 16,699 650,038 SH   SOLE   650,038 0 0
Acadia Realty Trust COM SH BEN INT 004239109 552 19,999 SH   SOLE   19,999 0 0
Actuant Corp. CL A 00508X203 22,556 739,062 SH   SOLE   739,062 0 0
AGCO Corp. COM 001084102 8,274 182,000 SH   OTR 1 182,000 0 0
AGCO Corp. COM 001084102 67,903 1,493,687 SH   SOLE 1,491,668 0 2,019
AK Steel Corp. COM 001547108 5,698 711,375 SH   SOLE   711,375 0 0
Alamo Group, Inc. COM 011311107 18,090 441,213 SH   SOLE   441,213 0 0
Alico, Inc. COM 016230104 8,742 229,460 SH   SOLE   229,460 0 0
Alleghany Corp. COM 017175100 75,638 180,888 SH   SOLE   180,888 0 0
Allied Nevada Gold COM 019344100 6,493 1,961,723 SH   SOLE   1,961,723 0 0
Allscripts Healthcare Sol., Inc. COM 01988P108 25,902 1,930,793 SH   SOLE   1,930,793 0 0
Ally Financial Inc. COM 02005N100 3,228 139,500 SH   SOLE   139,500 0 0
American Intl Group, Inc. COM 026874784 1,080 20,000 SH   SOLE   20,000 0 0
Anixter International Inc. COM 035290105 15,814 186,395 SH   SOLE   186,395 0 0
Annaly Capital Mgmt, Inc. COM 035710409 141 13,215 SH   SOLE   13,215 0 0
Apache Corp. COM 037411105 8,303 88,455 SH   OTR 1 88,455 0 0
Apache Corp. COM 037411105 113,164 1,205,539 SH   SOLE 1,203,666 0 1,873
Arch Capital Group Ltd. ORD G0450A105 21,078 385,189 SH   SOLE   385,189 0 0
Arcos Dorados Holdings, Inc. COM G0457F107 10,289 1,720,539 SH   SOLE   1,720,539 0 0
Ares Dynamic Cr Allocation Fd, Inc. COM 04014F102 5,828 341,996 SH   SOLE   341,996 0 0
Axiall Corp. COM 05463D100 23,321 651,238 SH   SOLE   651,238 0 0
Bank of NY Mellon Corp. COM 064058100 19,008 490,790 SH   OTR 1 490,790 0 0
Bank of NY Mellon Corp. COM 064058100 154,959 4,001,007 SH   SOLE 3,993,637 0 7,370
BlackRock Corp Hi Yld Fd III Inc COM 09255P107 9,189 776,736 SH   SOLE   776,736 0 0
BlackRock Credit Allctn Inc Tr COM 092508100 3,505 263,340 SH   SOLE   263,340 0 0
Bristow Group Inc. COM 110394103 11,164 166,138 SH   SOLE   163,010 0 3,128
Broadridge Financial Sol. Inc. COM 11133T103 14,254 342,387 SH   SOLE   342,387 0 0
Brookdale Senior Living Inc. COM 112463104 515 15,999 SH   OTR 1 15,999 0 0
Brookdale Senior Living Inc. COM 112463104 81,846 2,540,237 SH   SOLE 2,540,237 0 0
Brookfield Asset Mgmt. CL A LTD VT SH 112585104 641 14,249 SH   OTR 1 14,249 0 0
Brookfield Asset Mgmt. CL A LTD VT SH 112585104 135,783 3,020,079 SH   SOLE 3,018,151 0 1,928
Capital One Financial W EXP 11/14/2018 14040H139 601 15,000 SH   SOLE   15,000 0 0
Capital Southwest COM 140501107 5,378 150,348 SH   SOLE   150,348 0 0
Capstead Mortgage Corp. COM NO PAR 14067E506 153 12,500 SH   SOLE   12,500 0 0
Cavco Industries, Inc. COM 149568107 116,786 1,717,443 SH   SOLE   1,717,443 0 0
CBS Corporation COM 124857202 37,081 693,100 SH   SOLE   693,100 0 0
Cedar Shopping Centers Inc. COM 150602209 472 80,000 SH   SOLE   80,000 0 0
Century Communities Inc. COM 156504300 1,438 82,874 SH   SOLE   82,874 0 0
City National Corp. COM 178566105 19,786 261,475 SH   SOLE   261,475 0 0
Clean Harbors Inc. COM 184496107 6,151 114,083 SH   SOLE   114,083 0 0
Comerica Inc. W EXP 11/14/2018 200340115 2,675 130,000 SH   SOLE   130,000 0 0
Comerica Inc. COM 200340107 12,652 253,758 SH   OTR 1 253,758 0 0
Comerica Inc. COM 200340107 110,213 2,210,452 SH   SOLE 2,207,952 0 2,500
Commerce Bancshares, Inc COM 200525103 24,785 555,166 SH   SOLE   555,166 0 0
Cooper Tire & Rubber Co. COM 216831107 18,945 660,100 SH   SOLE   660,100 0 0
Covanta Holding Corp. COM 22282E102 138,406 6,522,428 SH   SOLE   6,522,428 0 0
CSG Systems International, Inc. COM 126349109 29,716 1,130,753 SH   SOLE   1,130,753 0 0
CST Brands, Inc COM 12646R105 15,500 431,150 SH   SOLE   431,150 0 0
Cubic, Corp. COM 229669106 23,837 509,341 SH   SOLE   509,341 0 0
Cullen Frost Bankers, Inc. COM 229899109 15,366 200,830 SH   SOLE   200,830 0 0
Darling International Inc. COM 237266101 25,264 1,379,021 SH   SOLE   1,379,021 0 0
Deutsche Hi Inc Opp Fd COM 25158Y102 5,762 393,556 SH   SOLE   393,556 0 0
Devon Energy Corp. COM 25179M103 15,826 232,116 SH   OTR 1 232,116 0 0
Devon Energy Corp. COM 25179M103 105,776 1,551,418 SH   SOLE 1,548,811 0 2,607
EMCOR Group, Inc. COM 29084Q100 30,927 773,946 SH   SOLE   773,946 0 0
Encana Corporation COM 292505104 6,395 301,495 SH   OTR 1 301,495 0 0
Encana Corporation COM 292505104 16,067 757,500 SH   SOLE 754,313 0 3,187
Encore Wire Corp. COM 292562105 7,745 208,829 SH   SOLE   208,829 0 0
EnerSys COM 29275Y102 29,296 499,585 SH   SOLE   499,585 0 0
Equity Commonwealth COM 294628102 730 28,376 SH   OTR 1 28,376 0 0
Equity Commonwealth COM 294628102 90,286 3,511,694 SH   SOLE 3,511,694 0 0
ERA Group Inc. COM 26885G109 11,308 519,893 SH   SOLE   519,893 0 0
Excel Trust, Inc. COM 30068C109 3,385 287,615 SH   SOLE   287,615 0 0
ExlService Holdings Inc. COM 302081104 13,432 550,283 SH   SOLE   550,283 0 0
First Indust. Realty Tr, Inc. COM 32054K103 727 42,985 SH   OTR 1 42,985 0 0
First Indust. Realty Tr, Inc. COM 32054K103 89,557 5,296,123 SH   SOLE 5,296,123 0 0
First Trust Hi Inc Long/Sht Fd COM 33738E109 11,161 653,060 SH   SOLE   653,060 0 0
Forest City Enter. Inc. CL A 345550107 1,085 55,469 SH   OTR 1 55,469 0 0
Forest City Enter. Inc. CL A 345550107 121,821 6,228,049 SH   SOLE 6,228,049 0 0
Forest Oil Corp. COM 346091705 4,680 4,000,000 SH   SOLE   4,000,000 0 0
Forestar Group Inc. COM 346233109 8,379 472,831 SH   SOLE   472,831 0 0
Foster (LB) Co. COM 350060109 3,070 66,826 SH   SOLE   66,826 0 0
FTI Consulting Inc. COM 302941109 31,666 905,782 SH   SOLE   905,782 0 0
General Motors Co. COM 37045V100 3,672 114,967 SH   SOLE   114,967 0 0
Genpact Ltd. COM G3922B107 31,571 1,934,499 SH   SOLE   1,934,499 0 0
Glatfelter P. H. Co. COM 377316104 20,795 947,370 SH   SOLE   947,370 0 0
HCC Insurance Holdings COM 404132102 50,653 1,048,935 SH   SOLE   1,048,935 0 0
Hersha Hospitality Trust SH BEN INT A 427825104 351 55,068 SH   OTR 1 55,068 0 0
Hersha Hospitality Trust SH BEN INT A 427825104 39,633 6,221,883 SH   SOLE 6,221,883 0 0
Hyatt Hotels Corp. CL A 448579102 275 4,550 SH   OTR 1 4,550 0 0
Hyatt Hotels Corp. CL A 448579102 27,828 459,812 SH   SOLE 459,812 0 0
ICF International, Inc. COM 44925C103 13,555 440,246 SH   SOLE   440,246 0 0
Ingram Micro Inc. CL A 457153104 16,416 636,038 SH   SOLE   636,038 0 0
Insight Enterprises, Inc. COM 45765U103 18,360 811,329 SH   SOLE   811,329 0 0
Interdigital Inc. COM 45867G101 25,813 648,252 SH   SOLE   648,252 0 0
Isle of Capri Casinos Inc. COM 464592104 7,500 999,955 SH   SOLE   999,955 0 0
Kaiser Aluminum Corp. COM PAR $0.01 483007704 25,577 335,574 SH   SOLE   335,574 0 0
Kelly Services Inc. CL A 488152208 3,526 225,000 SH   SOLE   225,000 0 0
Kennametal Inc. COM 489170100 12,223 295,876 SH   SOLE   295,876 0 0
Keycorp COM 493267108 90,472 6,787,103 SH   SOLE   6,776,151 0 10,952
Kimco Realty Corp. COM 49446R109 571 26,045 SH   SOLE   26,045 0 0
Legg Mason Inc. COM 524901105 34,415 672,688 SH   SOLE   672,688 0 0
Leucadia National Corp. COM 527288104 20,716 868,959 SH   OTR 1 868,959 0 0
Leucadia National Corp. COM 527288104 53,432 2,241,265 SH   SOLE 2,232,165 0 9,100
Loews Corp. COM 540424108 44,093 1,058,399 SH   SOLE   1,058,399 0 0
Lowe's Companies Inc. COM 548661107 828 15,640 SH   OTR 1 15,640 0 0
Lowe's Companies Inc. COM 548661107 90,677 1,713,481 SH   SOLE 1,713,481 0 0
LSB Industries Inc. COM 502160104 30,127 843,645 SH   SOLE   843,645 0 0
Madison Sq. Garden Inc. CL A 55826P100 26,883 406,573 SH   SOLE   406,573 0 0
Mantech International Corp. CL A 564563104 15,294 567,492 SH   SOLE   563,942 0 3,550
Multi-Color Corp. COM 625383104 27,860 612,579 SH   SOLE   612,579 0 0
Navient Corp. COM 63938C108 354 20,000 SH   SOLE   20,000 0 0
Neuberger Berman Hi Yld Strat. Fd COM 64128C106 6,515 504,626 SH   SOLE   504,626 0 0
New America Hi Inc Fd, Inc COM 641876800 6,122 650,628 SH   SOLE   650,628 0 0
Noranda Aluminum Holding COM 65542W107 6,780 1,500,000 SH   SOLE   1,500,000 0 0
NVIDIA Corp. COM 67066G104 54,933 2,977,415 SH   SOLE   2,969,971 0 7,444
Oshkosh Corp. COM 688239201 12,235 277,129 SH   SOLE   277,129 0 0
Patterson Co. Inc COM 703395103 27,469 663,021 SH   SOLE   663,021 0 0
Pinnacle Entertainment Inc. COM 723456109 6,403 255,200 SH   SOLE   255,200 0 0
PNC Financial Corp. COM 693475105 366 4,271 SH   SOLE   4,271 0 0
PNC Fin'l Serv. Gp W EXP 12/31/2018 693475121 40,341 1,772,450 SH   SOLE   1,772,450 0 0
Posco ADR 693483109 20,600 271,412 SH   OTR 1 271,412 0 0
Posco ADR 693483109 125,696 1,656,074 SH   SOLE 1,656,074 0 0
Post Properties Inc. COM 737464107 488 9,509 SH   OTR 1 9,509 0 0
Post Properties Inc. COM 737464107 81,662 1,590,608 SH   SOLE 1,590,608 0 0
Precision Drilling Corp. COM 74022D308 1,440 133,107 SH   SOLE   133,107 0 0
Progress Software Corp. COM 743312100 39,473 1,650,889 SH   SOLE   1,650,889 0 0
Prologis Inc. COM 74340W103 335 8,880 SH   SOLE   8,880 0 0
Prosperity Bancshares Inc. COM 743606105 30,446 532,553 SH   SOLE   532,553 0 0
PS Business Parks, Inc. COM 69360J107 464 6,100 SH   SOLE   6,100 0 0
Radio One Inc CL D NON VTG 75040P405 7,350 2,311,360 SH   SOLE   2,311,360 0 0
Rayonier Inc. COM 754907103 296 9,500 SH   OTR 1 9,500 0 0
Rayonier Inc. COM 754907103 16,952 544,371 SH   SOLE 544,371 0 0
Realogy Holdings Corp. COM 75605Y106 491 13,200 SH   OTR 1 13,200 0 0
Realogy Holdings Corp. COM 75605Y106 59,829 1,608,318 SH   SOLE 1,608,318 0 0
Regal-Beloit Corp. COM 758750103 26,162 407,190 SH   SOLE   407,190 0 0
Rofin-Sinar Tech. Inc. COM 775043102 31,310 1,357,766 SH   SOLE   1,353,688 0 4,078
Sanofi-Aventis SPON ADR 80105N105 694 12,306 SH   SOLE   12,306 0 0
Seacor Holdings Inc. COM 811904101 12,320 164,711 SH   OTR 1 164,711 0 0
Seacor Holdings Inc. COM 811904101 18,688 249,833 SH   SOLE 249,833 0 0
SemGroup Corporation - CL A CL A 81663A105 19,692 236,483 SH   SOLE   236,483 0 0
Spanish Broadcasting System, Inc CL A 846425833 2,863 681,637 SH   SOLE   681,637 0 0
Standard Motor Products, Inc. COM 853666105 22,164 643,751 SH   SOLE   643,751 0 0
Starwood Waypoint Residential REIT 85571W109 488 18,750 SH   OTR 1 18,750 0 0
Starwood Waypoint Residential REIT 85571W109 61,023 2,346,126 SH   SOLE 2,346,126 0 0
Stepan Co. COM 858586100 26,145 589,115 SH   SOLE   589,115 0 0
Suncoke Energy Inc. COM 86722A103 29,504 1,314,216 SH   SOLE   1,314,216 0 0
Symantec Corp. COM 871503108 64,090 2,726,057 SH   SOLE   2,726,057 0 0
Syntel, Inc. COM 87162H103 40,028 455,170 SH   SOLE   455,170 0 0
Tanger Factory Out. Ctrs, Inc. COM 875465106 484 14,796 SH   OTR 1 14,796 0 0
Tanger Factory Out. Ctrs, Inc. COM 875465106 79,965 2,443,925 SH   SOLE 2,443,925 0 0
Target Corporation COM 87612E106 35,130 560,468 SH   SOLE   560,468 0 0
Tejon Ranch Co. COM 879080109 328 11,682 SH   OTR 1 11,682 0 0
Tejon Ranch Co. COM 879080109 64,287 2,292,681 SH   SOLE 2,292,681 0 0
Tejon Ranch Co. W EXP 08/31/2016 879080133 737 359,332 SH   SOLE   359,332 0 0
Telefex Inc. COM 879369106 18,392 175,094 SH   SOLE   175,094 0 0
Terreno Realty Corp. COM 88146M101 796 42,290 SH   SOLE   42,290 0 0
Tetra Tech, Inc. COM 88162G103 30,932 1,238,251 SH   SOLE   1,238,251 0 0
Texas Pacific Land Trust SUB CTF PROP I T 882610108 1,644 8,543 SH   SOLE   8,543 0 0
Tredegar Corp. COM 894650100 12,695 689,569 SH   SOLE   689,569 0 0
UCP Inc. CL A 90265Y106 1,593 133,342 SH   SOLE   133,342 0 0
UMB Financial Corp. COM 902788108 26,495 485,695 SH   SOLE   485,695 0 0
UniFirst Corporation COM 904708104 36,479 377,668 SH   SOLE   377,668 0 0
United Stationers Inc COM 913004107 17,119 455,659 SH   SOLE   455,659 0 0
Vail Resorts Inc. COM 91879Q109 21,816 251,453 SH   SOLE   251,453 0 0
Valley National Bancorp COM 919794107 8,400 866,857 SH   SOLE   866,857 0 0
VCA Antech Inc. COM 918194101 17,609 447,732 SH   SOLE   447,732 0 0
Vornado Realty Trust SH BEN INT 929042109 641 6,411 SH   OTR 1 6,411 0 0
Vornado Realty Trust SH BEN INT 929042109 77,291 773,217 SH   SOLE 773,217 0 0
WCI Communities Inc. COM 92923C807 1,053 57,102 SH   SOLE   57,102 0 0
Wells Fargo & Co. W EXP 10/28/2018 949746119 18,946 940,230 SH   SOLE   940,230 0 0
Wells Fargo & Co. COM 949746101 244 4,699 SH   SOLE   4,699 0 0
Western Asset Hi Yld Def Opp Fd COM 95768B107 9,528 573,650 SH   SOLE   573,650 0 0
Western Asset Mgd Hi Inc Fd COM 95766L107 5,168 934,572 SH   SOLE   934,572 0 0
Westwood Holdings Group Inc. COM 961765104 17,893 315,624 SH   SOLE   315,624 0 0
Weyerhaeuser Co. COM 962166104 24,487 768,566 SH   OTR 1 768,566 0 0
Weyerhaeuser Co. COM 962166104 285,268 8,953,809 SH   SOLE 8,944,493 0 9,316
White Mtns Insur. Grp COM G9618E107 16,186 25,690 SH   OTR 1 25,690 0 0
White Mtns Insur. Grp COM G9618E107 98,495 156,324 SH   SOLE 156,150 0 174
Winthrop Realty Trust COM 976391300 904 60,000 SH   SOLE   60,000 0 0
World Fuel Services Corp COM 981475106 32,554 815,488 SH   SOLE   815,488 0 0
Zions Bancorporation COM 989701107 517 17,800 SH   OTR 1 17,800 0 0
Zions Bancorporation COM 989701107 62,991 2,167,603 SH   SOLE 2,167,603 0 0