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
AETNA INC NEW COM 00817Y108 70,940 798,600 SH   SOLE   285,900 0 512,700
ALLEGHANY CORP DEL COM 017175100 52,349 112,943 SH   SOLE   109,343 0 3,600
ALLISON TRANSMISSION HLDGS I COM 01973R101 26,643 785,935 SH   SOLE   761,735 0 24,200
ALLSTATE CORP COM 020002101 384,752 5,476,894 SH   SOLE   3,164,388 0 2,312,506
AMBASSADORS GROUP INC COM 023177108 157 62,600 SH   SOLE   62,600 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 699 30,936 SH   SOLE   30,936 0 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 2,890 117,400 SH   SOLE   117,400 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 1,007,556 17,988,859 SH   SOLE   10,880,767 0 7,108,092
AMTRUST FINL SVCS INC COM 032359309 19 18,400 SH Put SOLE   18,400 0 0
ANTHEM INC COM 036752103 340,105 2,706,336 SH   SOLE   1,529,089 0 1,177,247
ARRIS GROUP INC NEW COM 04270V106 238,496 7,899,818 SH   SOLE   7,368,518 0 531,300
ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 7,729 7,165,000 PRN   SOLE   7,165,000 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 55,854 1,276,086 SH   SOLE   1,140,786 0 135,300
ASSOCIATED BANC CORP COM 045487105 22,284 1,196,126 SH   SOLE   987,026 0 209,100
AVNET INC COM 053807103 139,702 3,247,364 SH   SOLE   3,144,264 0 103,100
BANK AMER CORP COM 060505104 771,046 43,099,265 SH   SOLE   24,964,296 0 18,134,969
BANK AMER CORP *W EXP 01/16/201 060505146 949 134,763 SH   SOLE   134,763 0 0
BANK NEW YORK MELLON CORP COM 064058100 214,182 5,279,318 SH   SOLE   2,916,832 0 2,362,486
BB&T CORP COM 054937107 455 11,700 SH   SOLE   11,700 0 0
BED BATH & BEYOND INC COM 075896100 330,361 4,337,152 SH   SOLE   2,864,028 0 1,473,124
BEST BUY INC COM 086516101 37,289 956,606 SH   SOLE   926,806 0 29,800
BLOCK H & R INC COM 093671105 51,984 1,543,473 SH   SOLE   1,494,873 0 48,600
BOEING CO COM 097023105 263,423 2,026,645 SH   SOLE   1,135,468 0 891,177
BOULDER TOTAL RETURN FD INC COM 101541100 1,051 37,900 SH   SOLE   37,900 0 0
BRINKS CO COM 109696104 39,668 1,625,066 SH   SOLE   1,361,066 0 264,000
BUNGE LIMITED COM G16962105 158,273 1,740,987 SH   SOLE   1,275,487 0 465,500
CA INC COM 12673P105 51,791 1,700,850 SH   SOLE   1,646,550 0 54,300
CALPINE CORP COM NEW 131347304 333,883 15,087,348 SH   SOLE   9,415,407 0 5,671,941
CAPITAL ONE FINL CORP COM 14040H105 394,422 4,777,973 SH   SOLE   2,647,005 0 2,130,968
CARNIVAL CORP PAIRED CTF 143658300 64,343 1,419,434 SH   SOLE   591,734 0 827,700
CDW CORP COM 12514G108 87,960 2,500,990 SH   SOLE   2,421,390 0 79,600
CIRCOR INTL INC COM 17273K109 4,388 72,800 SH   SOLE   72,800 0 0
CIT GROUP INC COM NEW 125581801 48,273 1,009,271 SH   SOLE   977,271 0 32,000
CITIGROUP INC COM NEW 172967424 920,790 17,016,998 SH   SOLE   9,794,180 0 7,222,818
CITIZENS FINL GROUP INC COM 174610105 549,859 22,118,204 SH   SOLE   15,089,805 0 7,028,399
CNH INDL N V SHS N20944109 94,245 11,692,897 SH   SOLE   6,613,454 0 5,079,443
COBALT INTL ENERGY INC COM 19075F106 370,674 41,695,561 SH   SOLE   24,516,261 0 17,179,300
COBALT INTL ENERGY INC NOTE 2.625%12/0 19075FAA4 7,563 12,500,000 PRN   SOLE   12,500,000 0 0
COBALT INTL ENERGY INC NOTE 3.125% 5/1 19075FAB2 12,334 18,255,000 PRN   SOLE   18,255,000 0 0
COMCAST CORP NEW CL A SPL 20030N200 168,327 2,924,116 SH   SOLE   1,606,000 0 1,318,116
COMSTOCK RES INC COM NEW 205768203 60,984 8,955,016 SH   SOLE   8,688,516 0 266,500
COMVERSE INC COM 20585P105 22,600 1,203,396 SH   SOLE   1,031,166 0 172,230
CON-WAY INC COM 205944101 246,954 5,021,422 SH   SOLE   4,638,622 0 382,800
CORNING INC COM 219350105 597,737 26,067,901 SH   SOLE   14,879,142 0 11,188,759
CORRECTIONS CORP AMER NEW COM NEW 22025Y407 830 22,851 SH   SOLE   22,851 0 0
COVIDIEN PLC SHS G2554F113 95,642 935,100 SH   SOLE   471,700 0 463,400
CUMMINS INC COM 231021106 416,884 2,891,614 SH   SOLE   1,713,725 0 1,177,889
DIGITAL RIV INC COM 25388B104 14,086 569,600 SH   SOLE   569,600 0 0
DIODES INC COM 254543101 33,751 1,224,200 SH   SOLE   1,024,200 0 200,000
DRESSER-RAND GROUP INC COM 261608103 84,254 1,030,000 SH   SOLE   1,002,200 0 27,800
EMBRAER S A SP ADR REP 4 COM 29082A107 113,043 3,066,814 SH   SOLE   1,969,165 0 1,097,649
EMPLOYERS HOLDINGS INC COM 292218104 7,719 328,317 SH   SOLE   286,017 0 42,300
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 10,538 176,100 SH   SOLE   146,500 0 29,600
ENPRO INDS INC COM 29355X107 20,824 331,800 SH   SOLE   277,800 0 54,000
ERICSSON ADR B SEK 10 294821608 305,077 25,212,987 SH   SOLE   14,301,574 0 10,911,413
EXPRESS SCRIPTS HLDG CO COM 30219G108 139,833 1,651,500 SH   SOLE   733,700 0 917,800
EXTREME NETWORKS INC COM 30226D106 7,585 2,148,700 SH   SOLE   1,795,800 0 352,900
FIFTH STR ASSET MGMT INC CL A COM 31679P109 229 16,400 SH   SOLE   16,400 0 0
FIRST BANCORP P R COM NEW 318672706 11,885 2,024,735 SH   SOLE   1,691,235 0 333,500
FIRST HORIZON NATL CORP COM 320517105 146,222 10,767,418 SH   SOLE   9,586,986 0 1,180,432
FIRST NIAGARA FINL GP INC COM 33582V108 36,562 4,337,121 SH   SOLE   3,622,821 0 714,300
FORD MTR CO DEL COM PAR $0.01 345370860 2,467 159,147 SH   SOLE   72,147 0 87,000
FRESH DEL MONTE PRODUCE INC ORD G36738105 36,986 1,102,414 SH   SOLE   1,068,814 0 33,600
GENERAL MLS INC COM 370334104 976 18,300 SH   SOLE   0 0 18,300
GENERAL MTRS CO COM 37045V100 465,732 13,340,927 SH   SOLE   7,516,218 0 5,824,709
GENERAL MTRS CO *W EXP 07/10/201 37045V118 2,590 102,550 SH   SOLE   102,550 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 3,539 206,612 SH   SOLE   206,612 0 0
GEO GROUP INC NEW COM 36162J106 79,801 1,977,241 SH   SOLE   1,754,157 0 223,084
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 522,021 12,213,885 SH   SOLE   7,053,933 0 5,159,952
GLOBAL INDEMNITY PLC SHS G39319101 33,183 1,169,667 SH   SOLE   937,900 0 231,767
GOLDMAN SACHS GROUP INC COM 38141G104 214,662 1,107,478 SH   SOLE   607,613 0 499,865
GOODYEAR TIRE & RUBR CO COM 382550101 163,464 5,721,520 SH   SOLE   5,559,220 0 162,300
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 32,134 903,900 SH   SOLE   755,900 0 148,000
GREAT PLAINS ENERGY INC COM 391164100 242,783 8,545,695 SH   SOLE   7,964,595 0 581,100
HANGER INC COM NEW 41043F208 74,821 3,416,494 SH   SOLE   2,945,994 0 470,500
HEIDRICK & STRUGGLES INTL IN COM 422819102 8,775 380,684 SH   SOLE   309,184 0 71,500
HELEN OF TROY CORP LTD COM G4388N106 35,035 538,500 SH   SOLE   450,700 0 87,800
HEWLETT PACKARD CO COM 428236103 468,848 11,683,220 SH   SOLE   6,641,344 0 5,041,876
HONDA MOTOR LTD AMERN SHS 438128308 205,180 6,950,543 SH   SOLE   3,789,898 0 3,160,645
HORACE MANN EDUCATORS CORP N COM 440327104 95,276 2,871,489 SH   SOLE   2,397,889 0 473,600
HORSEHEAD HLDG CORP COM 440694305 33,681 2,127,700 SH   SOLE   1,779,900 0 347,800
HUDSON GLOBAL INC COM 443787106 15,028 4,847,855 SH   SOLE   3,617,100 0 1,230,755
HUMANA INC COM 444859102 339,832 2,366,024 SH   SOLE   1,509,748 0 856,276
INGRAM MICRO INC CL A 457153104 35,717 1,292,205 SH   SOLE   1,251,405 0 40,800
INTERNATIONAL BUSINESS MACHS COM 459200101 265,445 1,654,481 SH   SOLE   955,503 0 698,978
INTERPUBLIC GROUP COS INC COM 460690100 321,128 15,461,139 SH   SOLE   9,541,376 0 5,919,763
INVACARE CORP COM 461203101 36,247 2,162,700 SH   SOLE   1,802,400 0 360,300
INVESTORS BANCORP INC NEW COM 46146L101 8,928 795,400 SH   SOLE   620,500 0 174,900
ISHARES TR RUS 2000 VAL ETF 464287630 15,974 157,100 SH   SOLE   157,100 0 0
JOHNSON CTLS INC COM 478366107 463,545 9,589,269 SH   SOLE   5,296,398 0 4,292,871
JPMORGAN CHASE & CO COM 46625H100 893,155 14,272,217 SH   SOLE   8,295,871 0 5,976,346
KAISER ALUMINUM CORP COM PAR $0.01 483007704 71,602 1,002,405 SH   SOLE   850,405 0 152,000
KBR INC COM 48242W106 32,719 1,930,317 SH   SOLE   1,655,217 0 275,100
KELLOGG CO COM 487836108 156,090 2,385,242 SH   SOLE   1,316,985 0 1,068,257
KOHLS CORP COM 500255104 144,318 2,364,312 SH   SOLE   2,291,112 0 73,200
KORN FERRY INTL COM NEW 500643200 2,795 97,190 SH   SOLE   97,190 0 0
KOSMOS ENERGY LTD SHS G5315B107 229,861 27,397,014 SH   SOLE   21,361,314 0 6,035,700
LAKES ENTMNT INC COM NEW 51206P208 2,164 323,048 SH   SOLE   261,398 0 61,650
LEAR CORP COM NEW 521865204 60,954 621,472 SH   SOLE   601,872 0 19,600
LIFEPOINT HOSPITALS INC COM 53219L109 74,176 1,031,511 SH   SOLE   918,011 0 113,500
LIFEVANTAGE CORP COM 53222K106 22 16,752 SH   SOLE   16,752 0 0
LILLY ELI & CO COM 532457108 271,861 3,940,587 SH   SOLE   2,219,531 0 1,721,056
LOUISIANA PAC CORP COM 546347105 30,833 1,861,900 SH   SOLE   1,550,900 0 311,000
LOWES COS INC COM 548661107 77,875 1,131,900 SH   SOLE   436,300 0 695,600
LYON WILLIAM HOMES CL A NEW 552074700 33,100 1,632,956 SH   SOLE   1,365,356 0 267,600
M/I HOMES INC COM 55305B101 27,881 1,214,346 SH   SOLE   1,016,746 0 197,600
MANPOWERGROUP INC COM 56418H100 34,453 505,404 SH   SOLE   383,516 0 121,888
MARATHON OIL CORP COM 565849106 378,351 13,374,014 SH   SOLE   7,640,371 0 5,733,643
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 52,012 3,587,017 SH   SOLE   3,477,717 0 109,300
MASONITE INTL CORP NEW COM 575385109 176,934 2,878,842 SH   SOLE   2,524,142 0 354,700
MATSON INC COM 57686G105 68,333 1,979,527 SH   SOLE   1,672,327 0 307,200
MCDERMOTT INTL INC COM 580037109 23,937 8,225,724 SH   SOLE   7,591,124 0 634,600
MCDONALDS CORP COM 580135101 137,637 1,468,907 SH   SOLE   808,786 0 660,121
MEDTRONIC INC COM 585055106 231,609 3,207,884 SH   SOLE   1,786,051 0 1,421,833
MERITOR INC COM 59001K100 81,434 5,375,213 SH   SOLE   4,602,613 0 772,600
MERITOR INC NOTE 7.875% 3/0 59001KAC4 8,292 5,020,000 PRN   SOLE   5,020,000 0 0
MICROSOFT CORP COM 594918104 502,351 10,814,879 SH   SOLE   6,006,903 0 4,807,976
MILLER INDS INC TENN COM NEW 600551204 37,131 1,786,013 SH   SOLE   1,432,821 0 353,192
MOLSON COORS BREWING CO CL B 60871R209 57,234 768,037 SH   SOLE   316,737 0 451,300
MONDELEZ INTL INC CL A 609207105 159,285 4,384,988 SH   SOLE   2,144,470 0 2,240,518
MORGAN STANLEY COM NEW 617446448 66,255 1,707,600 SH   SOLE   666,800 0 1,040,800
MURPHY OIL CORP COM 626717102 482,845 9,557,503 SH   SOLE   5,802,808 0 3,754,695
NATIONAL WESTN LIFE INS CO CL A 638522102 4,814 17,881 SH   SOLE   13,781 0 4,100
NAVISTAR INTL CORP NEW COM 63934E108 39,912 1,192,111 SH   SOLE   1,154,811 0 37,300
NEWS CORP NEW CL A 65249B109 48,055 3,062,773 SH   SOLE   2,970,373 0 92,400
NORANDA ALUM HLDG CORP COM 65542W107 24,877 7,067,333 SH   SOLE   6,020,033 0 1,047,300
NORDSTROM INC COM 655664100 71,197 896,800 SH   SOLE   340,300 0 556,500
NOVARTIS A G SPONSORED ADR 66987V109 896 9,665 SH   SOLE   9,665 0 0
NRG ENERGY INC COM NEW 629377508 261,435 9,700,756 SH   SOLE   6,501,187 0 3,199,569
OFFICE DEPOT INC COM 676220106 39,596 4,617,597 SH   SOLE   4,475,797 0 141,800
OLD REP INTL CORP COM 680223104 47,223 3,227,819 SH   SOLE   3,128,419 0 99,400
OMNICOM GROUP INC COM 681919106 117,316 1,514,344 SH   SOLE   979,144 0 535,200
ON SEMICONDUCTOR CORP COM 682189105 134,758 13,302,912 SH   SOLE   12,398,912 0 904,000
OPPENHEIMER HLDGS INC CL A NON VTG 683797104 10,865 467,291 SH   SOLE   393,591 0 73,700
ORACLE CORP COM 68389X105 725,102 16,124,128 SH   SOLE   9,187,251 0 6,936,877
OWENS CORNING NEW COM 690742101 24,487 683,800 SH   SOLE   663,000 0 20,800
PACCAR INC COM 693718108 202,367 2,975,548 SH   SOLE   1,660,689 0 1,314,859
PARKER HANNIFIN CORP COM 701094104 123,001 953,868 SH   SOLE   560,309 0 393,559
PHH CORP COM NEW 693320202 161,889 6,756,653 SH   SOLE   6,245,953 0 510,700
PHILIP MORRIS INTL INC COM 718172109 97,304 1,194,642 SH   SOLE   680,245 0 514,397
PLATINUM UNDERWRITER HLDGS L COM G7127P100 58,597 798,100 SH   SOLE   669,400 0 128,700
POPULAR INC COM NEW 733174700 167,303 4,913,464 SH   SOLE   4,618,964 0 294,500
PORTLAND GEN ELEC CO COM NEW 736508847 5,740 151,728 SH   SOLE   151,728 0 0
PPL CORP COM 69351T106 206,734 5,690,449 SH   SOLE   3,677,928 0 2,012,521
PUBLIC SVC ENTERPRISE GROUP COM 744573106 596,830 14,412,701 SH   SOLE   9,565,576 0 4,847,125
QLOGIC CORP COM 747277101 27,630 2,074,356 SH   SOLE   1,724,056 0 350,300
QUEST DIAGNOSTICS INC COM 74834L100 65,980 983,900 SH   SOLE   376,700 0 607,200
QUIKSILVER INC COM 74838C106 5,231 2,367,100 SH   SOLE   1,957,100 0 410,000
REGIONS FINL CORP NEW COM 7591EP100 134,188 12,707,227 SH   SOLE   12,304,227 0 403,000
RENT A CTR INC NEW COM 76009N100 49,552 1,364,330 SH   SOLE   1,321,730 0 42,600
ROCKWELL COLLINS INC COM 774341101 89,823 1,063,250 SH   SOLE   593,150 0 470,100
ROWAN COMPANIES PLC SHS CL A G7665A101 61,161 2,622,699 SH   SOLE   2,340,099 0 282,600
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 22,242 895,044 SH   SOLE   895,044 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF M 780097796 7,836 317,747 SH   SOLE   317,747 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 642,958 9,603,551 SH   SOLE   5,498,759 0 4,104,792
RUBY TUESDAY INC COM 781182100 18,794 2,747,600 SH   SOLE   2,298,500 0 449,100
RUSH ENTERPRISES INC CL A 781846209 31,730 990,000 SH   SOLE   849,900 0 140,100
SANOFI SPONSORED ADR 80105N105 533,304 11,692,693 SH   SOLE   6,634,062 0 5,058,631
SANTANDER CONSUMER USA HDG I COM 80283M101 38,557 1,966,191 SH   SOLE   1,906,691 0 59,500
SONIC AUTOMOTIVE INC CL A 83545G102 78,703 2,910,600 SH   SOLE   2,467,900 0 442,700
SOUTHERN CO COM 842587107 46,359 943,990 SH   SOLE   725,865 0 218,125
STANLEY BLACK & DECKER INC COM 854502101 258,841 2,694,013 SH   SOLE   1,636,384 0 1,057,629
STAPLES INC COM 855030102 103,748 5,725,618 SH   SOLE   5,546,418 0 179,200
SUNTRUST BKS INC COM 867914103 311,128 7,425,497 SH   SOLE   5,061,897 0 2,363,600
SYMANTEC CORP COM 871503108 50,486 1,967,887 SH   SOLE   1,905,887 0 62,000
SYMETRA FINL CORP COM 87151Q106 10,032 435,226 SH   SOLE   364,216 0 71,010
SYNOVUS FINL CORP COM NEW 87161C501 11,601 428,240 SH   SOLE   358,084 0 70,156
TARGET CORP COM 87612E106 487,909 6,427,472 SH   SOLE   3,634,803 0 2,792,669
TARO PHARMACEUTICAL INDS LTD SHS M8737E108 31,342 211,499 SH   SOLE   167,999 0 43,500
TE CONNECTIVITY LTD REG SHS H84989104 58,258 921,080 SH   SOLE   378,725 0 542,355
TERADATA CORP DEL COM 88076W103 109,277 2,501,773 SH   SOLE   1,603,473 0 898,300
TEXAS INSTRS INC COM 882508104 216,559 4,050,490 SH   SOLE   2,230,706 0 1,819,784
TIME WARNER CABLE INC COM 88732J207 460,974 3,031,526 SH   SOLE   1,686,005 0 1,345,521
TRI POINTE HOMES INC COM 87265H109 49,462 3,243,416 SH   SOLE   2,997,616 0 245,800
UNITEDHEALTH GROUP INC COM 91324P102 482,788 4,775,824 SH   SOLE   2,685,477 0 2,090,347
UNUM GROUP COM 91529Y106 461,392 13,227,968 SH   SOLE   8,711,492 0 4,516,476
VERIZON COMMUNICATIONS INC COM 92343V104 194 67,600 SH Put SOLE   67,600 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 556,158 16,276,196 SH   SOLE   9,309,812 0 6,966,384
WAL-MART STORES INC COM 931142103 513,746 5,982,138 SH   SOLE   3,472,262 0 2,509,876
WEBSTER FINL CORP CONN COM 947890109 11,041 339,406 SH   SOLE   283,906 0 55,500
WELLCARE HEALTH PLANS INC COM 94946T106 113,696 1,385,524 SH   SOLE   1,224,224 0 161,300
WELLS FARGO & CO NEW COM 949746101 251,778 4,592,809 SH   SOLE   2,673,968 0 1,918,841
WESTAR ENERGY INC COM 95709T100 3,349 81,200 SH   SOLE   54,300 0 26,900
WESTERN UN CO COM 959802109 37,220 2,078,155 SH   SOLE   2,014,455 0 63,700
WHITE MTNS INS GROUP LTD COM G9618E107 156,310 248,068 SH   SOLE   240,568 0 7,500
WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 173,866 3,880,069 SH   SOLE   3,762,669 0 117,400
ZIMMER HLDGS INC COM 98956P102 165,342 1,457,788 SH   SOLE   871,604 0 586,184
ZIONS BANCORPORATION COM 989701107 35,513 1,245,628 SH   SOLE   1,207,928 0 37,700