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
EURONAV NV ANTWERPEN SHS B38564108 29,457 3,728,768 SH   SOLE   2,744,148 0 984,620
ALLERGAN PLC SHS G0177J108 8,308 34,175 SH   SOLE   22,600 0 11,575
ARRIS INTL INC SHS G0551A103 25,093 895,523 SH   SOLE   493,201 0 402,322
ENSCO PLC SHS CLASS A G3157S106 14,742 2,857,011 SH   SOLE   2,224,694 0 632,317
HERBALIFE LTD COM USD SHS G4412G101 38,181 535,266 SH   SOLE   365,766 0 169,500
OM ASSET MGMT PLC SHS G67506108 13,528 910,345 SH   SOLE   415,061 0 495,284
TE CONNECTIVITY LTD REG SHS H84989104 6,900 87,695 SH   SOLE   61,795 0 25,900
GOLAR LNG PARTNERS LP COM UNIT LPI Y2745C102 35,416 1,764,626 SH   SOLE   1,350,968 0 413,658
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 18,472 964,587 SH   SOLE   474,774 0 489,813
TEEKAY TANKERS LTD CL A Y8565N102 27,380 14,563,834 SH   SOLE   8,750,584 0 5,813,250
ABBVIE INC COM 00287Y109 1,257 17,337 SH   SOLE   8,800 0 8,537
ALLY FINL INC COM 02005N100 11,549 552,564 SH   SOLE   381,799 0 170,765
AMERICAN ELEC PWR INC COM 025537101 1,202 17,300 SH   SOLE   5,800 0 11,500
AMERICAN INTL GROUP INC COM NEW 026874784 10,380 166,031 SH   SOLE   110,500 0 55,531
ARCONIC INC COM 03965L100 26,826 1,184,369 SH   SOLE   842,984 0 341,385
ASTRAZENECA PLC SPONSORED ADR 046353108 937 27,500 SH   SOLE   13,500 0 14,000
ATLANTIC CAP BANCSHARES INC COM 048269203 3,684 193,896 SH   SOLE   85,995 0 107,901
BP PLC SPONSORED ADR 055622104 27,686 799,007 SH   SOLE   574,907 0 224,100
BANK AMER CORP COM 060505104 46,669 1,923,715 SH   SOLE   1,265,636 0 658,079
C & F FINL CORP COM 12466Q104 528 11,248 SH   SOLE   5,832 0 5,416
CNX COAL RES LP COM UNIT RP LP 12592V100 1,063 71,133 SH   SOLE   71,133 0 0
CNO FINL GROUP INC COM 12621E103 79,564 3,810,514 SH   SOLE   2,180,586 0 1,629,928
CA INC COM 12673P105 54,086 1,569,079 SH   SOLE   1,061,120 0 507,959
CAPSTAR FINL HLDGS INC COM 14070T102 211 11,867 SH   SOLE   3,739 0 8,128
CARPENTER TECHNOLOGY CORP COM 144285103 18,992 507,412 SH   SOLE   268,844 0 238,568
CATCHMARK TIMBER TR INC CL A 14912Y202 10,322 907,816 SH   SOLE   543,266 0 364,550
CHESAPEAKE ENERGY CORP COM 165167107 3,638 732,024 SH   SOLE   562,500 0 169,524
CISCO SYS INC COM 17275R102 33,842 1,081,200 SH   SOLE   709,700 0 371,500
CITIGROUP INC COM NEW 172967424 58,359 872,587 SH   SOLE   583,280 0 289,307
COCA COLA CO COM 191216100 377 8,400 SH   SOLE   4,700 0 3,700
COMTECH TELECOMMUNICATIONS C COM NEW 205826209 48,838 2,574,504 SH   SOLE   1,172,130 0 1,402,374
CONAGRA BRANDS INC COM 205887102 11,834 330,937 SH   SOLE   221,200 0 109,737
CONMED CORP COM 207410101 9,619 188,834 SH   SOLE   93,148 0 95,686
CONOCOPHILLIPS COM 20825C104 3,490 79,400 SH   SOLE   62,500 0 16,900
CORNING INC COM 219350105 24 800 SH   SOLE   800 0 0
DXC TECHNOLOGY CO COM 23355L106 715 9,326 SH   SOLE   3,306 0 6,020
DEVON ENERGY CORP NEW COM 25179M103 892 27,900 SH   SOLE   27,900 0 0
ENOVA INTL INC COM 29357K103 12,359 832,226 SH   SOLE   376,184 0 456,042
ENTERGY CORP NEW COM 29364G103 22,869 297,893 SH   SOLE   222,728 0 75,165
EXELON CORP COM 30161N101 38,004 1,053,613 SH   SOLE   781,212 0 272,401
EZCORP INC CL A NON VTG 302301106 17,420 2,262,319 SH   SOLE   994,785 0 1,267,534
FEDEX CORP COM 31428X106 25,383 116,795 SH   SOLE   80,000 0 36,795
FIRST BANCORP N C COM 318910106 7,624 243,895 SH   SOLE   93,298 0 150,597
FIRST CTZNS BANCSHARES INC N CL A 31946M103 32,635 87,565 SH   SOLE   40,323 0 47,242
FIRST DATA CORP NEW COM CL A 32008D106 1,172 64,400 SH   SOLE   21,700 0 42,700
FIRST HORIZON NATL CORP COM 320517105 36,007 2,067,008 SH   SOLE   941,360 0 1,125,648
FLUOR CORP NEW COM 343412102 4,142 90,483 SH   SOLE   56,514 0 33,969
FLOWSERVE CORP COM 34354P105 1,021 22,000 SH   SOLE   8,000 0 14,000
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 23,400 1,277,978 SH   SOLE   577,437 0 700,541
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 36,746 922,347 SH   SOLE   415,770 0 506,577
GREAT PLAINS ENERGY INC COM 391164100 18,572 634,274 SH   SOLE   308,774 0 325,500
HP INC COM 40434L105 5,864 335,465 SH   SOLE   228,429 0 107,036
HARSCO CORP COM 415864107 26,632 1,654,189 SH   SOLE   874,052 0 780,137
HEWLETT PACKARD ENTERPRISE C COM 42824C109 9,421 567,865 SH   SOLE   389,629 0 178,236
HOME DEPOT INC COM 437076102 16,886 110,075 SH   SOLE   73,600 0 36,475
ICONIX BRAND GROUP INC COM 451055107 20,774 3,006,352 SH   SOLE   1,389,239 0 1,617,113
INNOSPEC INC COM 45768S105 54,851 836,775 SH   SOLE   490,978 0 345,797
JPMORGAN CHASE & CO COM 46625H100 43,934 480,676 SH   SOLE   301,200 0 179,476
KBR INC COM 48242W106 126,788 8,330,385 SH   SOLE   5,428,207 0 2,902,178
KAISER ALUMINUM CORP COM PAR $0.01 483007704 22,867 258,328 SH   SOLE   131,099 0 127,229
KAPSTONE PAPER & PACKAGING C COM 48562P103 10,412 504,699 SH   SOLE   297,616 0 207,083
LAMB WESTON HLDGS INC COM 513272104 1,750 39,744 SH   SOLE   19,899 0 19,845
LENNAR CORP CL B 526057302 17,533 389,872 SH   SOLE   274,921 0 114,951
LILLY ELI & CO COM 532457108 37,789 459,160 SH   SOLE   304,464 0 154,696
LYON WILLIAM HOMES CL A NEW 552074700 18,733 776,028 SH   SOLE   324,656 0 451,372
MASTERCARD INCORPORATED CL A 57636Q104 1,961 16,150 SH   SOLE   5,450 0 10,700
MERCER INTL INC COM 588056101 8,321 723,566 SH   SOLE   338,375 0 385,191
MERCK & CO INC COM 58933Y105 33,177 517,656 SH   SOLE   345,600 0 172,056
MICROSOFT CORP COM 594918104 45,219 656,008 SH   SOLE   427,100 0 228,908
MILLER INDS INC TENN COM NEW 600551204 7,334 295,136 SH   SOLE   124,457 0 170,679
NATIONAL FUEL GAS CO N J COM 636180101 1,284 23,000 SH   SOLE   23,000 0 0
NELNET INC CL A 64031N108 7,017 149,266 SH   SOLE   65,682 0 83,584
NEXTERA ENERGY INC COM 65339F101 2,382 17,000 SH   SOLE   11,100 0 5,900
NORTHROP GRUMMAN CORP COM 666807102 45,757 178,243 SH   SOLE   117,900 0 60,343
OCEANEERING INTL INC COM 675232102 457 20,000 SH   SOLE   20,000 0 0
ORACLE CORP COM 68389X105 12,615 251,600 SH   SOLE   163,400 0 88,200
PPL CORP COM 69351T106 1,929 49,900 SH   SOLE   49,900 0 0
PARK STERLING CORP COM 70086Y105 22,048 1,855,903 SH   SOLE   772,542 0 1,083,361
PFIZER INC COM 717081103 41,271 1,228,660 SH   SOLE   821,300 0 407,360
PHILIP MORRIS INTL INC COM 718172109 30,589 260,446 SH   SOLE   141,800 0 118,646
PORTLAND GEN ELEC CO COM NEW 736508847 16,239 355,414 SH   SOLE   163,714 0 191,700
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,682 39,100 SH   SOLE   39,100 0 0
REGIONS FINL CORP NEW COM 7591EP100 284 19,400 SH   SOLE   19,400 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 30,285 569,373 SH   SOLE   473,962 0 95,411
SEACOR MARINE HLDGS INC COM ADDED 78413P101 307 15,092 SH   SOLE   15,092 0 0
SCANA CORP NEW COM 80589M102 1,930 28,800 SH   SOLE   28,800 0 0
SCIENCE APPLICATNS INTL CP N COM 808625107 23,257 335,015 SH   SOLE   146,878 0 188,137
SEACOR HOLDINGS INC COM 811904101 515 15,017 SH   SOLE   15,017 0 0
SEMPRA ENERGY COM 816851109 1,545 13,700 SH   SOLE   13,700 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 517 29,366 SH   SOLE   13,148 0 16,218
SUNTRUST BKS INC COM 867914103 29,442 519,072 SH   SOLE   377,172 0 141,900
TENET HEALTHCARE CORP COM NEW 88033G407 7,040 364,000 SH   SOLE   167,078 0 196,922
TIME WARNER INC COM NEW 887317303 13,204 131,500 SH   SOLE   83,700 0 47,800
TUPPERWARE BRANDS CORP COM 899896104 44,039 627,064 SH   SOLE   346,393 0 280,671
TYSON FOODS INC CL A 902494103 18,587 296,780 SH   SOLE   214,635 0 82,145
UFP TECHNOLOGIES INC COM 902673102 6,291 222,297 SH   SOLE   91,320 0 130,977
VCA INC COM 918194101 29,307 317,481 SH   SOLE   164,285 0 153,196
VERIZON COMMUNICATIONS INC COM 92343V104 961 21,515 SH   SOLE   7,947 0 13,568
VIRTUS INVT PARTNERS INC COM 92828Q109 48,594 437,985 SH   SOLE   196,239 0 241,746
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 2,618 91,118 SH   SOLE   58,988 0 32,130
VOYA FINL INC COM 929089100 13,975 378,830 SH   SOLE   262,946 0 115,884
WAL-MART STORES INC COM 931142103 16,597 219,300 SH   SOLE   148,900 0 70,400
WELLS FARGO CO NEW COM 949746101 15,831 285,700 SH   SOLE   196,300 0 89,400