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
ABBVIE INC COM 00287Y109 51,465 945,883 SH   SOLE   386,690 0 559,193
ABERCROMBIE & FITCH CO CL A 002896207 68,008 3,209,416 SH   SOLE   1,716,065 0 1,493,351
ACACIA RESH CORP ACACIA TCH COM 003881307 45,780 5,041,826 SH   SOLE   4,012,796 0 1,029,030
ADAMS RES & ENERGY INC COM NEW 006351308 2,283 55,691 SH   SOLE   54,511 0 1,180
ADTRAN INC COM 00738A106 36,482 2,498,801 SH   SOLE   1,826,653 0 672,148
ALLSTATE CORP COM 020002101 32,425 556,740 SH   SOLE   228,450 0 328,290
AMERICAN SCIENCE & ENGR INC COM 029429107 3,288 92,463 SH   SOLE   90,503 0 1,960
ANDERSONS INC COM 034164103 35,401 1,039,364 SH   SOLE   764,364 0 275,000
APPLE INC COM 037833100 1,599 14,500 SH   SOLE   14,500 0 0
APPLIED MATLS INC COM 038222105 35,882 2,442,612 SH   SOLE   995,082 0 1,447,530
ARTESIAN RESOURCES CORP CL A 043113208 4,366 180,855 SH   SOLE   177,026 0 3,829
ASTEC INDS INC COM 046224101 18,486 551,662 SH   SOLE   417,209 0 134,453
AT&T INC COM 00206R102 65,099 1,998,114 SH   SOLE   834,110 0 1,164,004
AXIALL CORP COM 05463D100 18,989 1,210,238 SH   SOLE   865,463 0 344,775
BALDWIN & LYONS INC CL B 057755209 2,823 130,084 SH   SOLE   127,328 0 2,756
BANC CALIF INC COM 05990K106 5,245 427,458 SH   SOLE   419,599 0 7,859
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 918 50,380 SH   SOLE   50,380 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 688 21,380 SH   SOLE   21,380 0 0
BANK AMER CORP COM 060505104 3,378 216,831 SH   SOLE   216,831 0 0
BANKFINANCIAL CORP COM 06643P104 8,096 651,288 SH   SOLE   638,577 0 12,711
BARRETT BILL CORP COM 06846N104 248 75,000 SH   SOLE   75,000 0 0
BAXALTA INC COM 07177M103 4,922 156,216 SH   SOLE   64,131 0 92,085
BAXTER INTL INC COM 071813109 18,139 552,191 SH   SOLE   227,550 0 324,641
BB&T CORP COM 054937107 79,951 2,245,826 SH   SOLE   917,079 0 1,328,747
BERKSHIRE HILLS BANCORP INC COM 084680107 4,509 163,720 SH   SOLE   160,254 0 3,466
BIG 5 SPORTING GOODS CORP COM 08915P101 4,764 458,979 SH   SOLE   449,236 0 9,743
BIO TECHNE CORP COM 09073M104 4,343 46,976 SH   SOLE   36,720 0 10,256
BLACK BOX CORP DEL COM 091826107 3,154 213,952 SH   SOLE   209,411 0 4,541
BRISTOW GROUP INC COM 110394103 14,800 565,735 SH   SOLE   402,896 0 162,839
BROOKLINE BANCORP INC DEL COM 11373m107 20,922 2,063,268 SH   SOLE   1,584,224 0 479,044
BUCKLE INC COM 118440106 26,396 713,984 SH   SOLE   513,686 0 200,298
C D I CORP COM 125071100 3,694 432,059 SH   SOLE   423,665 0 8,394
CABOT CORP COM 127055101 91,168 2,888,707 SH   SOLE   1,743,591 0 1,145,116
CAE INC COM 124765108 424 40,160 SH   SOLE   40,160 0 0
CALLON PETE CO DEL COM 13123X102 1,072 147,088 SH   SOLE   147,088 0 0
CAPITOL FED FINL INC COM 14057j101 854 70,450 SH   SOLE   70,450 0 0
CARBO CERAMICS INC COM 140781105 46,722 2,460,348 SH   SOLE   1,889,796 0 570,552
CARDINAL FINL CORP COM 14149F109 1,646 71,520 SH   SOLE   70,005 0 1,515
CARMIKE CINEMAS INC COM 143436400 1,205 60,000 SH   SOLE   60,000 0 0
CATCHMARK TIMBER TR INC CL A 14912Y202 10,513 1,022,696 SH   SOLE   1,002,127 0 20,569
CENTERPOINT ENERGY INC COM 15189T107 37,772 2,093,785 SH   SOLE   882,455 0 1,211,330
CENTRAL VALLEY CMNTY BANCORP COM 155685100 978 80,802 SH   SOLE   80,802 0 0
CHARTER FINL CORP MD COM 16122W108 4,330 341,489 SH   SOLE   334,232 0 7,257
CHEMICAL FINL CORP COM 163731102 31,049 959,773 SH   SOLE   693,860 0 265,913
CHEVRON CORP NEW COM 166764100 80,958 1,026,338 SH   SOLE   416,780 0 609,558
CHICOS FAS INC COM 168615102 34,612 2,200,395 SH   SOLE   1,593,237 0 607,158
CHIMERA INVT CORP COM NEW 16934Q208 1,337 100,000 SH   SOLE   100,000 0 0
CISCO SYS INC COM 17275R102 32,855 1,251,625 SH   SOLE   516,390 0 735,235
CITIGROUP INC *W EXP 01/04/201 172967226 1,033 2,245,500 SH   SOLE   2,245,500 0 0
CITIGROUP INC COM NEW 172967424 4,840 97,551 SH   SOLE   97,551 0 0
CLARCOR INC COM 179895107 1,185 24,844 SH   SOLE   24,844 0 0
CNOOC LTD SPONSORED ADR 126132109 1,405 13,630 SH   SOLE   13,630 0 0
COACH INC COM 189754104 42,221 1,459,434 SH   SOLE   617,833 0 841,601
COCA COLA CO COM 191216100 41,704 1,039,477 SH   SOLE   431,350 0 608,127
COHU INC COM 192576106 23,036 2,336,277 SH   SOLE   1,898,843 0 437,434
COLUMBIA BKG SYS INC COM 197236102 25,033 802,069 SH   SOLE   571,194 0 230,875
COMMUNICATIONS SYS INC COM 203900105 3,427 410,902 SH   SOLE   402,197 0 8,705
COMPASS MINERALS INTL INC COM 20451n101 41,699 532,084 SH   SOLE   383,689 0 148,395
COPA HOLDINGS SA CL A P31076105 9,296 221,704 SH   SOLE   101,431 0 120,273
CRANE CO COM 224399105 38,351 822,807 SH   SOLE   598,827 0 223,980
CREDICORP LTD COM G2519Y108 1,061 9,980 SH   SOLE   9,980 0 0
CREDIT SUISSE NASSAU BRH NT LKD 32 22542D399 2,827 266,214 SH   SOLE   266,214 0 0
CULLEN FROST BANKERS INC COM 229899109 44,570 700,999 SH   SOLE   293,745 0 407,254
CYPRESS SEMICONDUCTOR CORP COM 232806109 31,921 3,746,543 SH   SOLE   2,713,650 0 1,032,893
DANAOS CORPORATION SHS Y1968P105 31,131 5,111,868 SH   SOLE   5,111,868 0 0
DEAN FOODS CO NEW COM NEW 242370203 1,036 62,726 SH   SOLE   62,726 0 0
DESTINATION MATERNITY CORP COM 25065D100 977 105,923 SH   SOLE   105,923 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 674 25,000 SH   SOLE   25,000 0 0
DIAMONDBACK ENERGY INC COM 25278X109 1,282 19,848 SH   SOLE   19,848 0 0
DIANA CONTAINERSHIPS INC COM Y2069P101 282 227,322 SH   SOLE   227,322 0 0
DIEBOLD INC COM 253651103 87,033 2,923,512 SH   SOLE   1,773,549 0 1,149,963
DIXIE GROUP INC CL A 255519100 1,484 177,471 SH   SOLE   177,471 0 0
DONEGAL GROUP INC CL A 257701201 5,341 379,842 SH   SOLE   372,761 0 7,081
DYNAMIC MATLS CORP COM 267888105 12,946 1,357,032 SH   SOLE   1,332,560 0 24,472
EAGLE BANCORP MONT INC COM 26942G100 3,287 290,110 SH   SOLE   284,010 0 6,100
EASTMAN CHEM CO COM 277432100 62,066 958,986 SH   SOLE   399,460 0 559,526
EATON CORP PLC SHS G29183103 31,882 621,475 SH   SOLE   268,270 0 353,205
ECOPETROL S A SPONSORED ADS 279158109 764 88,850 SH   SOLE   88,850 0 0
ELLINGTON FINANCIAL LLC COM 288522303 1,053 58,920 SH   SOLE   58,920 0 0
EMERALD OIL INC COM PAR 0.001 29101U407 981 541,718 SH   SOLE   541,718 0 0
EMERSON ELEC CO COM 291011104 58,329 1,320,559 SH   SOLE   530,895 0 789,664
EMPLOYERS HOLDINGS INC COM 292218104 4,900 219,842 SH   SOLE   215,185 0 4,657
ENTERPRISE FINL SVCS CORP COM 293712105 5,257 208,861 SH   SOLE   204,440 0 4,421
ETHAN ALLEN INTERIORS INC COM 297602104 413 15,654 SH   SOLE   15,654 0 0
EXXON MOBIL CORP COM 30231g102 86,707 1,166,200 SH   SOLE   463,506 0 702,694
FAIRMOUNT SANTROL HLDGS INC COM 30555Q108 311 115,000 SH   SOLE   115,000 0 0
FBR & CO COM NEW 30247C400 2,778 136,032 SH   SOLE   136,032 0 0
FIFTH THIRD BANCORP COM 316773100 65,729 3,475,870 SH   SOLE   1,418,030 0 2,057,840
FINANCIAL INSTNS INC COM 317585404 990 39,969 SH   SOLE   39,123 0 846
FIRST BANCORP INC ME COM 31866P102 2,913 152,527 SH   SOLE   149,297 0 3,230
FIRST FINL BANCORP OH COM 320209109 20,247 1,061,173 SH   SOLE   775,729 0 285,444
FIRST MERCHANTS CORP COM 320817109 15,429 588,459 SH   SOLE   419,228 0 169,231
FIRST MIDWEST BANCORP DEL COM 320867104 19,512 1,112,410 SH   SOLE   792,394 0 320,016
FIRSTMERIT CORP COM 337915102 48,150 2,724,944 SH   SOLE   1,185,233 0 1,539,711
FNB CORP PA COM 302520101 50,221 3,878,052 SH   SOLE   2,832,395 0 1,045,657
FORD MTR CO DEL COM PAR $0.01 345370860 66,577 4,906,205 SH   SOLE   2,008,495 0 2,897,710
FULL CIRCLE CAP CORP COM 359671104 508 165,519 SH   SOLE   165,519 0 0
GALLAGHER ARTHUR J & CO COM 363576109 38,455 931,573 SH   SOLE   405,997 0 525,576
GASTAR EXPL INC NEW COM 36729W202 967 840,515 SH   SOLE   840,515 0 0
GENERAL ELECTRIC CO COM 369604103 80,397 3,187,826 SH   SOLE   1,293,300 0 1,894,526
GENERAL MTRS CO COM 37045V100 60,410 2,012,326 SH   SOLE   829,470 0 1,182,856
GERDAU S A SPON ADR REP PFD 373737105 683 498,190 SH   SOLE   498,190 0 0
GLOBAL SHIP LEASE INC NEW SHS A Y27183105 28,582 6,159,952 SH   SOLE   6,159,952 0 0
GOLAR LNG LTD BERMUDA SHS G9456A100 984 35,300 SH   SOLE   35,300 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,303 7,500 SH   SOLE   7,500 0 0
GRAHAM CORP COM 384556106 5,698 322,847 SH   SOLE   316,008 0 6,839
GRAMERCY PPTY TR INC COM NEW 38489R605 1,310 63,090 SH   SOLE   63,090 0 0
GRANITE CONSTR INC COM 387328107 50,383 1,698,109 SH   SOLE   1,240,822 0 457,287
GREEN PLAINS INC COM 393222104 33,668 1,730,096 SH   SOLE   1,316,028 0 414,068
GREENHILL & CO INC COM 395259104 20,013 702,940 SH   SOLE   516,290 0 186,650
GREIF INC CL A 397624107 16,214 508,103 SH   SOLE   355,217 0 152,886
GULF ISLAND FABRICATION INC COM 402307102 4,824 458,145 SH   SOLE   449,737 0 8,408
H & E EQUIPMENT SERVICES INC COM 404030108 6,791 406,181 SH   SOLE   397,546 0 8,635
HANCOCK HLDG CO COM 410120109 41,521 1,534,965 SH   SOLE   1,144,470 0 390,495
HARSCO CORP COM 415864107 744 81,984 SH   SOLE   81,984 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 2,289 50,000 SH   SOLE   50,000 0 0
HAYNES INTERNATIONAL INC COM NEW 420877201 25,724 679,813 SH   SOLE   528,688 0 151,125
HERITAGE FINL CORP WASH COM 42722x106 5,446 289,395 SH   SOLE   284,115 0 5,280
HOPFED BANCORP INC COM 439734104 6,098 510,306 SH   SOLE   499,501 0 10,805
IBERIABANK CORP COM 450828108 32,693 561,641 SH   SOLE   409,376 0 152,265
ICICI BK LTD ADR 45104G104 6,538 780,220 SH   SOLE   724,030 0 56,190
INDEPENDENT BANK CORP MICH COM NEW 453838609 6,693 453,430 SH   SOLE   445,463 0 7,967
INFINITY PPTY & CAS CORP COM 45665Q103 18,108 224,831 SH   SOLE   160,132 0 64,699
INTEL CORP COM 458140100 51,284 1,701,535 SH   SOLE   701,985 0 999,550
INTERNATIONAL BUSINESS MACHS COM 459200101 53,691 370,356 SH   SOLE   151,574 0 218,782
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 4,452 672,486 SH   SOLE   608,336 0 64,150
JOHNSON & JOHNSON COM 478160104 82,427 882,990 SH   SOLE   364,070 0 518,920
JOHNSON CTLS INC COM 478366107 47,935 1,158,978 SH   SOLE   471,104 0 687,874
JPMORGAN CHASE & CO COM 46625h100 64,387 1,056,046 SH   SOLE   430,418 0 625,628
KANSAS CITY SOUTHERN COM NEW 485170302 1,469 16,160 SH   SOLE   16,160 0 0
KBR INC COM 48242W106 57,255 3,436,701 SH   SOLE   2,495,105 0 941,596
KELLOGG CO COM 487836108 31,795 477,755 SH   SOLE   196,756 0 280,999
KELLY SVCS INC CL A 488152208 4,166 294,592 SH   SOLE   288,355 0 6,237
KRONOS WORLDWIDE INC COM 50105F105 16,746 2,696,575 SH   SOLE   1,877,754 0 818,821
L-3 COMMUNICATIONS HLDGS INC COM 502424104 33,989 325,191 SH   SOLE   133,581 0 191,610
LANDAUER INC COM 51476K103 13,285 359,138 SH   SOLE   352,607 0 6,531
LAZARD LTD SHS A G54050102 2,274 52,523 SH   SOLE   52,523 0 0
M & T BK CORP COM 55261F104 34,094 279,575 SH   SOLE   115,130 0 164,445
MACATAWA BK CORP COM 554225102 1,381 266,636 SH   SOLE   266,636 0 0
MAGNUM HUNTER RES CORP DEL COM 55973B102 734 2,159,995 SH   SOLE   2,159,995 0 0
MARATHON OIL CORP COM 565849106 86,320 5,605,220 SH   SOLE   2,292,715 0 3,312,505
MARINE PRODS CORP COM 568427108 127 18,283 SH   SOLE   17,897 0 386
MAXIM INTEGRATED PRODS INC COM 57772K101 793 23,738 SH   SOLE   23,738 0 0
MBIA INC COM 55262C100 1,908 313,800 SH   SOLE   313,800 0 0
MCDONALDS CORP COM 580135101 32,374 328,569 SH   SOLE   135,080 0 193,489
MCGRATH RENTCORP COM 580589109 23,739 889,431 SH   SOLE   680,233 0 209,198
MENS WEARHOUSE INC COM 587118100 44,595 1,048,791 SH   SOLE   767,824 0 280,967
METLIFE INC COM 59156R108 34,386 729,300 SH   SOLE   295,547 0 433,753
MIDDLEBURG FINANCIAL CORP COM 596094102 7,219 409,961 SH   SOLE   403,636 0 6,325
MIDSOUTH BANCORP INC COM 598039105 7,164 612,304 SH   SOLE   601,208 0 11,096
MILLER HERMAN INC COM 600544100 764 26,478 SH   SOLE   26,478 0 0
MOBILE TELESYSTEMS PJSC SPONSORED ADR 607409109 1,175 162,700 SH   SOLE   162,700 0 0
MORGAN STANLEY COM NEW 617446448 33,492 1,063,241 SH   SOLE   469,120 0 594,121
MOSAIC CO NEW COM 61945C103 31,780 1,021,527 SH   SOLE   408,385 0 613,142
MSA SAFETY INC COM 553498106 30,317 758,489 SH   SOLE   544,151 0 214,338
MURPHY OIL CORP COM 626717102 26,006 1,074,638 SH   SOLE   459,388 0 615,250
NATIONAL BK HLDGS CORP CL A 633707104 39,328 1,915,644 SH   SOLE   1,464,225 0 451,419
NATIONAL FUEL GAS CO N J COM 636180101 32,598 652,220 SH   SOLE   277,615 0 374,605
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 60,259 4,599,961 SH   SOLE   3,308,366 0 1,291,595
NEW SR INVT GROUP INC COM 648691103 4,193 400,861 SH   SOLE   400,861 0 0
NEXTERA ENERGY INC COM 65339F101 41,162 421,955 SH   SOLE   173,690 0 248,265
NORFOLK SOUTHERN CORP COM 655844108 36,396 476,383 SH   SOLE   194,395 0 281,988
NORTHEAST CMNTY BANCORP INC COM 664112109 2,215 297,198 SH   SOLE   290,728 0 6,470
NORTHWEST BANCSHARES INC MD COM 667340103 25,656 1,973,543 SH   SOLE   1,423,638 0 549,905
NUCOR CORP COM 670346105 46,300 1,233,020 SH   SOLE   499,810 0 733,210
NUVERRA ENVIRONMENTAL SOLUTI COM NEW 67091K203 1,943 1,428,592 SH   SOLE   1,428,592 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 68,876 1,041,205 SH   SOLE   417,150 0 624,055
OLD NATL BANCORP IND COM 680033107 40,403 2,900,462 SH   SOLE   2,115,728 0 784,734
OLIN CORP COM PAR $1 680665205 30,494 1,814,011 SH   SOLE   742,926 0 1,071,085
OUTFRONT MEDIA INC COM 69007J106 38,809 1,865,831 SH   SOLE   788,680 0 1,077,151
OWENS & MINOR INC NEW COM 690732102 30,225 946,321 SH   SOLE   389,984 0 556,337
PACIFIC CONTINENTAL CORP COM 69412V108 6,200 465,843 SH   SOLE   455,973 0 9,870
PARK ELECTROCHEMICAL CORP COM 700416209 4,401 250,185 SH   SOLE   244,888 0 5,297
PARK STERLING CORP COM 70086Y105 7,421 1,091,392 SH   SOLE   1,071,306 0 20,086
PARSLEY ENERGY INC CL A 701877102 1,032 68,500 SH   SOLE   68,500 0 0
PATTERSON UTI ENERGY INC COM 703481101 50,839 3,869,027 SH   SOLE   2,825,421 0 1,043,606
PDC ENERGY INC COM 69327R101 689 13,000 SH   SOLE   13,000 0 0
PENTAIR PLC SHS G7S00T104 32,975 646,063 SH   SOLE   291,915 0 354,148
PGT INC COM 69336V101 1,550 126,217 SH   SOLE   126,217 0 0
PHILIP MORRIS INTL INC COM 718172109 45,026 567,581 SH   SOLE   238,417 0 329,164
PIER 1 IMPORTS INC COM 720279108 690 100,000 SH   SOLE   100,000 0 0
PINNACLE WEST CAP CORP COM 723484101 42,277 659,143 SH   SOLE   280,035 0 379,108
PLUM CREEK TIMBER CO INC COM 729251108 35,547 899,696 SH   SOLE   397,705 0 501,991
PLY GEM HLDGS INC COM 72941W100 1,076 92,002 SH   SOLE   92,002 0 0
PNC FINL SVCS GROUP INC COM 693475105 49,909 559,515 SH   SOLE   230,448 0 329,067
POTLATCH CORP NEW COM 737630103 17,500 607,852 SH   SOLE   432,226 0 175,626
POWELL INDS INC COM 739128106 9,596 318,802 SH   SOLE   312,051 0 6,751
PRAXAIR INC COM 74005P104 47,978 471,019 SH   SOLE   194,495 0 276,524
PRECISION DRILLING CORP COM 2010 74022D308 47,707 12,824,389 SH   SOLE   7,224,111 0 5,600,278
PREFERRED BK LOS ANGELES CA COM NEW 740367404 1,234 39,061 SH   SOLE   39,061 0 0
PRIMORIS SVCS CORP COM 74164f103 24,595 1,373,243 SH   SOLE   979,131 0 394,112
PROASSURANCE CORP COM 74267C106 18,010 367,026 SH   SOLE   268,671 0 98,355
PROSPERITY BANCSHARES INC COM 743606105 58,840 1,198,127 SH   SOLE   868,331 0 329,796
PROVIDENT FINL SVCS INC COM 74386t105 16,888 866,068 SH   SOLE   616,460 0 249,608
PRUDENTIAL FINL INC COM 744320102 62,300 817,482 SH   SOLE   337,080 0 480,402
QUALCOMM INC COM 747525103 49,931 929,293 SH   SOLE   382,402 0 546,891
RCI HOSPITALITY HLDGS INC COM 74934Q108 1,375 131,966 SH   SOLE   131,966 0 0
REGAL BELOIT CORP COM 758750103 41,066 727,472 SH   SOLE   530,527 0 196,945
REGIONS FINL CORP NEW COM 7591EP100 3,244 360,000 SH   SOLE   360,000 0 0
RING ENERGY INC COM 76680V108 2,547 258,058 SH   SOLE   258,058 0 0
ROCKWELL AUTOMATION INC COM 773903109 33,594 331,073 SH   SOLE   130,365 0 200,708
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 28,210 595,280 SH   SOLE   251,500 0 343,780
SCHLUMBERGER LTD COM 806857108 69,793 1,011,934 SH   SOLE   438,794 0 573,140
SCHNITZER STL INDS CL A 806882106 3,482 257,154 SH   SOLE   251,706 0 5,448
SCHWAB CHARLES CORP NEW COM 808513105 1,588 55,600 SH   SOLE   55,600 0 0
SI FINL GROUP INC MD COM 78425V104 7,626 640,864 SH   SOLE   629,932 0 10,932
SIERRA BANCORP COM 82620P102 2,928 183,443 SH   SOLE   180,116 0 3,327
SONOCO PRODS CO COM 835495102 34,070 902,754 SH   SOLE   371,670 0 531,084
SOTHEBYS COM 835898107 14,100 440,895 SH   SOLE   317,814 0 123,081
SOUTHERN COPPER CORP COM 84265V105 764 28,610 SH   SOLE   28,610 0 0
SPARTAN MTRS INC COM 846819100 8,865 2,146,457 SH   SOLE   2,107,124 0 39,333
STEEL DYNAMICS INC COM 858119100 33,415 1,944,979 SH   SOLE   825,509 0 1,119,470
STERLING BANCORP DEL COM 85917A100 8,134 547,022 SH   SOLE   391,772 0 155,250
STIFEL FINL CORP COM 860630102 320 7,600 SH   SOLE   7,600 0 0
STONECASTLE FINL CORP COM 861780104 5,024 298,683 SH   SOLE   292,358 0 6,325
STONEGATE BK FT LAUDERDALE F COM 861811107 2,892 90,900 SH   SOLE   90,900 0 0
SUFFOLK BANCORP COM 864739107 1,280 46,869 SH   SOLE   46,869 0 0
SUNTRUST BKS INC COM 867914103 60,955 1,594,001 SH   SOLE   655,673 0 938,328
SUPERIOR ENERGY SVCS INC COM 868157108 46,517 3,683,031 SH   SOLE   2,682,538 0 1,000,493
SYMANTEC CORP COM 871503108 40,992 2,105,405 SH   SOLE   856,265 0 1,249,140
SYNALLOY CP DEL COM 871565107 3,588 396,928 SH   SOLE   388,519 0 8,409
SYNERGY RES CORP COM 87164P103 1,580 161,238 SH   SOLE   161,238 0 0
SYNGENTA AG SPONSORED ADR 87160A100 33,202 520,578 SH   SOLE   231,020 0 289,558
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 2,694 129,832 SH   SOLE   129,832 0 0
TENARIS S A SPONSORED ADR 88031M109 2,329 96,610 SH   SOLE   96,610 0 0
TESCO CORP COM 88157K101 10,168 1,424,089 SH   SOLE   1,398,101 0 25,988
TESSCO TECHNOLOGIES INC COM 872386107 4,501 213,767 SH   SOLE   209,240 0 4,527
TETRA TECH INC NEW COM 88162G103 46,422 1,909,597 SH   SOLE   1,389,328 0 520,269
TEXAS PAC LD TR SUB CTF PROP I T 882610108 9,980 71,157 SH   SOLE   71,157 0 0
TIDEWATER INC COM 886423102 21,047 1,601,730 SH   SOLE   709,192 0 892,538
TIMKEN CO COM 887389104 33,622 1,223,050 SH   SOLE   508,190 0 714,860
TIMKENSTEEL CORP COM 887399103 23,356 2,307,933 SH   SOLE   1,693,064 0 614,869
TRAVELCENTERS AMER LLC COM 894174101 1,473 142,548 SH   SOLE   142,548 0 0
TRICO BANCSHARES COM 896095106 9,073 369,276 SH   SOLE   361,456 0 7,820
TRONOX LTD SHS CL A Q9235V101 9,521 2,178,645 SH   SOLE   1,118,743 0 1,059,902
TWIN DISC INC COM 901476101 3,974 320,205 SH   SOLE   314,285 0 5,920
U S SILICA HLDGS INC COM 90346E103 18,879 1,339,918 SH   SOLE   940,336 0 399,582
UMB FINL CORP COM 902788108 13,970 274,947 SH   SOLE   197,907 0 77,040
UNION BANKSHARES CORP NEW COM 90539J109 25,222 1,050,902 SH   SOLE   757,945 0 292,957
UNION PAC CORP COM 907818108 39,296 444,470 SH   SOLE   183,200 0 261,270
UNITED FINL BANCORP INC NEW COM 910304104 10,895 834,851 SH   SOLE   819,634 0 15,217
UNITED PARCEL SERVICE INC CL B 911312106 43,917 444,999 SH   SOLE   185,239 0 259,760
UNITED STATES OIL FUND LP UNITS 91232N108 15,267 1,040,000 SH Call SOLE   1,040,000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 32,495 365,159 SH   SOLE   146,600 0 218,559
UNIVERSAL TRUCKLOAD SVCS INC COM 91388P105 6,154 395,253 SH   SOLE   387,984 0 7,269
UNIVEST CORP PA COM 915271100 7,318 380,738 SH   SOLE   372,661 0 8,077
US BANCORP DEL COM NEW 902973304 38,187 931,168 SH   SOLE   378,804 0 552,364
VIPER ENERGY PARTNERS LP COM UNT RP INT 92763M105 5,333 373,198 SH   SOLE   373,198 0 0
WAL-MART STORES INC COM 931142103 59,494 917,546 SH   SOLE   386,761 0 530,785
WAUSAU PAPER CORP COM 943315101 11,347 1,772,899 SH   SOLE   1,740,581 0 32,318
WESBANCO INC COM 950810101 13,355 424,652 SH   SOLE   302,821 0 121,831
WESTAMERICA BANCORPORATION COM 957090103 39,730 894,017 SH   SOLE   652,941 0 241,076
WEYCO GROUP INC COM 962149100 3,051 112,845 SH   SOLE   110,469 0 2,376
WHITING PETE CORP NEW COM 966387102 580 38,000 SH   SOLE   38,000 0 0
WISDOMTREE TR INDIA ERNGS FD 97717W422 1,745 87,620 SH   SOLE   87,620 0 0
XILINX INC COM 983919101 35,041 826,447 SH   SOLE   361,615 0 464,832
YRC WORLDWIDE INC COM PAR $.01 984249607 766 57,800 SH   SOLE   57,800 0 0
ZIONS BANCORPORATION COM 989701107 1,997 72,500 SH   SOLE   72,500 0 0