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 64,938 801,700 SH   SOLE   288,000 0 513,700
AIR T INC COM 009207101 561 42,900 SH   SOLE   42,900 0 0
ALLEGHANY CORP DEL COM 017175100 49,652 118,743 SH   SOLE   115,143 0 3,600
ALLSTATE CORP COM 020002101 400,793 6,530,764 SH   SOLE   3,708,742 0 2,822,022
AMBASSADORS GROUP INC COM 023177108 116 31,300 SH   SOLE   31,300 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 627 37,416 SH   SOLE   37,416 0 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 2,806 117,400 SH   SOLE   117,400 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 961,941 17,807,132 SH   SOLE   10,735,540 0 7,071,592
ARRIS GROUP INC NEW COM 04270V106 220,796 7,786,848 SH   SOLE   7,261,448 0 525,400
ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 8,369 8,115,000 PRN   SOLE   8,115,000 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 70,813 1,655,670 SH   SOLE   1,505,170 0 150,500
ASSOCIATED BANC CORP COM 045487105 21,030 1,207,226 SH   SOLE   988,326 0 218,900
AVNET INC COM 053807103 149,651 3,606,041 SH   SOLE   3,500,741 0 105,300
BALLY TECHNOLOGIES INC COM 05874B107 41,746 517,300 SH   SOLE   502,200 0 15,100
BANK AMER CORP COM 060505104 729,576 42,790,406 SH   SOLE   24,594,210 0 18,196,196
BANK AMER CORP *W EXP 01/16/201 060505146 879 117,263 SH   SOLE   117,263 0 0
BANK NEW YORK MELLON CORP COM 064058100 203,110 5,244,262 SH   SOLE   2,863,732 0 2,380,530
BB&T CORP COM 054937107 435 11,700 SH   SOLE   11,700 0 0
BED BATH & BEYOND INC COM 075896100 301,592 4,581,375 SH   SOLE   3,082,273 0 1,499,102
BEST BUY INC COM 086516101 33,551 998,835 SH   SOLE   968,335 0 30,500
BIG LOTS INC COM 089302103 5,816 135,100 SH   SOLE   135,100 0 0
BLOCK H & R INC COM 093671105 36,178 1,166,660 SH   SOLE   1,130,460 0 36,200
BOEING CO COM 097023105 259,279 2,035,478 SH   SOLE   1,144,165 0 891,313
BOULDER TOTAL RETURN FD INC COM 101541100 998 37,900 SH   SOLE   37,900 0 0
BRINKS CO COM 109696104 19,994 831,681 SH   SOLE   690,881 0 140,800
BUNGE LIMITED COM G16962105 165,699 1,967,219 SH   SOLE   1,497,819 0 469,400
CA INC COM 12673P105 51,588 1,846,403 SH   SOLE   1,792,103 0 54,300
CAPITAL ONE FINL CORP COM 14040H105 386,813 4,739,190 SH   SOLE   2,606,705 0 2,132,485
CARNIVAL CORP PAIRED CTF 143658300 57,258 1,425,392 SH   SOLE   594,592 0 830,800
CDW CORP COM 12514G108 102,826 3,311,621 SH   SOLE   3,215,421 0 96,200
CIRCOR INTL INC COM 17273K109 4,902 72,800 SH   SOLE   72,800 0 0
CIT GROUP INC COM NEW 125581801 50,343 1,095,371 SH   SOLE   1,063,371 0 32,000
CITIGROUP INC COM NEW 172967424 890,362 17,181,831 SH   SOLE   9,890,723 0 7,291,108
CITIZENS FINL GROUP INC COM 174610105 503,434 21,495,900 SH   SOLE   15,100,462 0 6,395,438
CNH INDL N V SHS N20944109 90,212 11,376,095 SH   SOLE   6,371,559 0 5,004,536
COBALT INTL ENERGY INC COM 19075F106 430,222 31,633,946 SH   SOLE   19,898,146 0 11,735,800
COBALT INTL ENERGY INC NOTE 3.125% 5/1 19075FAB2 12,614 14,055,000 PRN   SOLE   14,055,000 0 0
COMCAST CORP NEW CL A SPL 20030N200 299,511 5,598,337 SH   SOLE   3,098,722 0 2,499,615
COMSTOCK RES INC COM NEW 205768203 46,510 2,497,849 SH   SOLE   2,426,049 0 71,800
COMVERSE INC COM 20585P105 26,957 1,207,207 SH   SOLE   1,029,977 0 177,230
CON-WAY INC COM 205944101 238,773 5,026,791 SH   SOLE   4,618,491 0 408,300
CORNING INC COM 219350105 624,843 32,308,348 SH   SOLE   18,146,310 0 14,162,038
CORRECTIONS CORP AMER NEW COM NEW 22025Y407 790 22,995 SH   SOLE   22,995 0 0
COVIDIEN PLC SHS G2554F113 62,953 727,700 SH   SOLE   264,300 0 463,400
CUMMINS INC COM 231021106 402,053 3,046,316 SH   SOLE   1,755,057 0 1,291,259
DIODES INC COM 254543101 20,255 846,800 SH   SOLE   715,000 0 131,800
EMBRAER S A SP ADR REP 4 COM 29082A107 126,927 3,236,286 SH   SOLE   2,104,230 0 1,132,056
EMPLOYERS HOLDINGS INC COM 292218104 6,339 329,320 SH   SOLE   285,720 0 43,600
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 9,777 177,182 SH   SOLE   146,682 0 30,500
ENPRO INDS INC COM 29355X107 20,187 333,500 SH   SOLE   277,800 0 55,700
ERICSSON ADR B SEK 10 294821608 211,296 16,782,838 SH   SOLE   9,097,770 0 7,685,068
EXPRESS SCRIPTS HLDG CO COM 30219G108 130,771 1,851,500 SH   SOLE   811,200 0 1,040,300
EXTREME NETWORKS INC COM 30226D106 2,261 472,100 SH   SOLE   392,800 0 79,300
FEDEX CORP COM 31428X106 64,160 397,400 SH   SOLE   149,200 0 248,200
FIRST BANCORP P R COM NEW 318672706 9,647 2,030,900 SH   SOLE   1,687,500 0 343,400
FIRST HORIZON NATL CORP COM 320517105 172,863 14,076,753 SH   SOLE   12,665,621 0 1,411,132
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 2,790 105,000 SH   SOLE   105,000 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 31,317 3,759,500 SH   SOLE   3,145,300 0 614,200
FORD MTR CO DEL COM PAR $0.01 345370860 2,099 141,912 SH   SOLE   54,912 0 87,000
FRESH DEL MONTE PRODUCE INC ORD G36738105 40,609 1,273,022 SH   SOLE   1,234,322 0 38,700
GENERAL MLS INC COM 370334104 969 19,200 SH   SOLE   0 0 19,200
GENERAL MTRS CO COM 37045V100 400,265 12,531,772 SH   SOLE   6,940,738 0 5,591,034
GENERAL MTRS CO *W EXP 07/10/201 37045V126 1,504 104,062 SH   SOLE   104,062 0 0
GEO GROUP INC NEW COM 36162J106 116,199 3,040,255 SH   SOLE   2,681,071 0 359,184
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 496,686 10,804,564 SH   SOLE   6,167,794 0 4,636,770
GLOBAL INDEMNITY PLC SHS G39319101 30,583 1,212,182 SH   SOLE   969,615 0 242,567
GOLDMAN SACHS GROUP INC COM 38141G104 112,232 611,388 SH   SOLE   325,764 0 285,624
GOODYEAR TIRE & RUBR CO COM 382550101 159,820 7,076,383 SH   SOLE   6,888,483 0 187,900
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 31,360 908,200 SH   SOLE   755,900 0 152,300
GREAT PLAINS ENERGY INC COM 391164100 231,284 9,569,068 SH   SOLE   8,956,568 0 612,500
HANGER INC COM NEW 41043F208 41,879 2,040,900 SH   SOLE   1,697,500 0 343,400
HANOVER INS GROUP INC COM 410867105 5,980 97,360 SH   SOLE   97,360 0 0
HEIDRICK & STRUGGLES INTL IN COM 422819102 7,862 382,784 SH   SOLE   309,184 0 73,600
HELEN OF TROY CORP LTD COM G4388N106 42,210 803,700 SH   SOLE   687,800 0 115,900
HEWLETT PACKARD CO COM 428236103 480,438 13,544,924 SH   SOLE   7,626,674 0 5,918,250
HONDA MOTOR LTD AMERN SHS 438128308 202,372 5,903,497 SH   SOLE   3,205,903 0 2,697,594
HORACE MANN EDUCATORS CORP N COM 440327104 82,421 2,890,959 SH   SOLE   2,399,559 0 491,400
HORSEHEAD HLDG CORP COM 440694305 22,610 1,367,800 SH   SOLE   1,137,300 0 230,500
HUDSON GLOBAL INC COM 443787106 18,544 4,905,855 SH   SOLE   3,619,100 0 1,286,755
HUMANA INC COM 444859102 401,237 3,079,572 SH   SOLE   2,144,651 0 934,921
INGRAM MICRO INC CL A 457153104 35,159 1,362,205 SH   SOLE   1,321,405 0 40,800
INTERNATIONAL BUSINESS MACHS COM 459200101 306,755 1,615,947 SH   SOLE   925,675 0 690,272
INTERPUBLIC GROUP COS INC COM 460690100 311,851 17,022,439 SH   SOLE   11,009,381 0 6,013,058
INVACARE CORP COM 461203101 25,668 2,173,400 SH   SOLE   1,802,400 0 371,000
INVESTORS BANCORP INC NEW COM 46146L101 8,110 800,600 SH   SOLE   620,500 0 180,100
ISHARES TR RUS 2000 VAL ETF 464287630 18,637 199,200 SH   SOLE   199,200 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 9,754 89,200 SH   SOLE   89,200 0 0
JAKKS PAC INC NOTE 4.500%11/0 47012EAD8 51 50,000 PRN   SOLE   50,000 0 0
JOHNSON & JOHNSON COM 478160104 305 2,862 SH   SOLE   2,862 0 0
JOHNSON CTLS INC COM 478366107 435,241 9,891,852 SH   SOLE   5,403,485 0 4,488,367
JPMORGAN CHASE & CO COM 46625H100 852,182 14,146,446 SH   SOLE   8,119,577 0 6,026,869
KAISER ALUMINUM CORP COM PAR $0.01 483007704 91,225 1,196,865 SH   SOLE   1,004,165 0 192,700
KELLOGG CO COM 487836108 145,492 2,361,876 SH   SOLE   1,290,376 0 1,071,500
KOHLS CORP COM 500255104 149,097 2,443,012 SH   SOLE   2,372,012 0 71,000
KORN FERRY INTL COM NEW 500643200 2,420 97,190 SH   SOLE   97,190 0 0
KOSMOS ENERGY LTD SHS G5315B107 203,591 20,440,845 SH   SOLE   17,726,145 0 2,714,700
LAKES ENTMNT INC COM NEW 51206P208 2,703 324,491 SH   SOLE   259,941 0 64,550
LEAR CORP COM NEW 521865204 57,849 669,472 SH   SOLE   649,872 0 19,600
LIFEPOINT HOSPITALS INC COM 53219L109 72,667 1,050,259 SH   SOLE   933,759 0 116,500
LIFEVANTAGE CORP COM 53222K106 20 17,431 SH   SOLE   17,431 0 0
LILLY ELI & CO COM 532457108 280,260 4,321,666 SH   SOLE   2,401,956 0 1,919,710
LOWES COS INC COM 548661107 60,551 1,144,200 SH   SOLE   439,800 0 704,400
LYON WILLIAM HOMES CL A NEW 552074700 11,543 522,318 SH   SOLE   437,618 0 84,700
M/I HOMES INC COM 55305B101 24,183 1,220,146 SH   SOLE   1,016,746 0 203,400
MANPOWERGROUP INC COM 56418H100 34,250 488,592 SH   SOLE   370,016 0 118,576
MARATHON OIL CORP COM 565849106 371,130 9,873,103 SH   SOLE   5,488,530 0 4,384,573
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 50,282 3,730,117 SH   SOLE   3,620,817 0 109,300
MASONITE INTL CORP NEW COM 575385109 169,724 3,064,712 SH   SOLE   2,697,712 0 367,000
MATSON INC COM 57686G105 68,211 2,725,167 SH   SOLE   2,284,967 0 440,200
MCDERMOTT INTL INC COM 580037109 36,275 6,341,767 SH   SOLE   5,749,067 0 592,700
MCDONALDS CORP COM 580135101 140,823 1,485,322 SH   SOLE   820,093 0 665,229
MEDTRONIC INC COM 585055106 200,158 3,230,958 SH   SOLE   1,780,951 0 1,450,007
MERITOR INC COM 59001K100 58,698 5,409,942 SH   SOLE   4,604,942 0 805,000
MERITOR INC NOTE 7.875% 3/0 59001KAC4 8,820 6,080,000 PRN   SOLE   6,080,000 0 0
MICROSOFT CORP COM 594918104 591,670 12,762,500 SH   SOLE   7,162,600 0 5,599,900
MILLER INDS INC TENN COM NEW 600551204 30,361 1,796,513 SH   SOLE   1,432,821 0 363,692
MOLSON COORS BREWING CO CL B 60871R209 57,686 774,936 SH   SOLE   323,636 0 451,300
MONDELEZ INTL INC CL A 609207105 149,150 4,352,835 SH   SOLE   2,123,035 0 2,229,800
MORGAN STANLEY COM NEW 617446448 91,168 2,637,200 SH   SOLE   1,003,300 0 1,633,900
MURPHY OIL CORP COM 626717102 303,245 5,328,502 SH   SOLE   3,224,445 0 2,104,057
NATIONAL WESTN LIFE INS CO CL A 638522102 4,468 18,087 SH   SOLE   13,787 0 4,300
NAVISTAR INTL CORP NEW COM 63934E108 23,212 705,311 SH   SOLE   683,311 0 22,000
NEWS CORP NEW CL A 65249B109 24,492 1,497,960 SH   SOLE   1,451,860 0 46,100
NORANDA ALUM HLDG CORP COM 65542W107 32,081 7,097,531 SH   SOLE   6,018,431 0 1,079,100
NORDSTROM INC COM 655664100 61,663 901,900 SH   SOLE   342,800 0 559,100
NORTHROP GRUMMAN CORP COM 666807102 102,662 779,159 SH   SOLE   434,581 0 344,578
NOVARTIS A G SPONSORED ADR 66987V109 908 9,646 SH   SOLE   9,646 0 0
NRG ENERGY INC COM NEW 629377508 381,128 12,504,197 SH   SOLE   8,425,660 0 4,078,537
OFFICE DEPOT INC COM 676220106 24,418 4,750,612 SH   SOLE   4,608,812 0 141,800
OMNICOM GROUP INC COM 681919106 58,731 852,900 SH   SOLE   336,500 0 516,400
ON SEMICONDUCTOR CORP COM 682189105 157,045 17,566,608 SH   SOLE   16,278,608 0 1,288,000
OPPENHEIMER HLDGS INC CL A NON VTG 683797104 4,252 209,991 SH   SOLE   173,191 0 36,800
ORACLE CORP COM 68389X105 649,268 16,961,012 SH   SOLE   9,628,423 0 7,332,589
PACCAR INC COM 693718108 202,490 3,560,267 SH   SOLE   1,982,709 0 1,577,558
PEPSICO INC COM 713448108 303 3,260 SH   SOLE   3,260 0 0
PHH CORP COM NEW 693320202 154,341 6,902,567 SH   SOLE   6,376,667 0 525,900
PHILIP MORRIS INTL INC COM 718172109 98,316 1,178,846 SH   SOLE   666,086 0 512,760
PLATINUM UNDERWRITER HLDGS L COM G7127P100 52,630 864,630 SH   SOLE   719,230 0 145,400
POPULAR INC COM NEW 733174700 93,893 3,189,827 SH   SOLE   3,049,327 0 140,500
PORTLAND GEN ELEC CO COM NEW 736508847 4,880 151,924 SH   SOLE   151,924 0 0
PPL CORP COM 69351T106 321,554 9,791,525 SH   SOLE   7,609,271 0 2,182,254
PUBLIC SVC ENTERPRISE GROUP COM 744573106 659,795 17,717,362 SH   SOLE   11,926,798 0 5,790,564
QLOGIC CORP COM 747277101 19,105 2,085,750 SH   SOLE   1,724,450 0 361,300
QUEST DIAGNOSTICS INC COM 74834L100 96,679 1,593,262 SH   SOLE   967,062 0 626,200
QUIKSILVER INC COM 74838C106 4,094 2,380,400 SH   SOLE   1,957,100 0 423,300
REGIONS FINL CORP NEW COM 7591EP100 135,908 13,536,627 SH   SOLE   13,141,427 0 395,200
RENT A CTR INC NEW COM 76009N100 123,275 4,061,776 SH   SOLE   3,696,476 0 365,300
ROCKWELL COLLINS INC COM 774341101 84,737 1,079,450 SH   SOLE   608,050 0 471,400
ROWAN COMPANIES PLC SHS CL A G7665A101 35,573 1,405,499 SH   SOLE   1,307,099 0 98,400
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 19,725 795,044 SH   SOLE   795,044 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF M 780097796 6,709 273,832 SH   SOLE   273,832 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 639,140 8,395,370 SH   SOLE   4,736,862 0 3,658,508
RUBY TUESDAY INC COM 781182100 16,260 2,760,600 SH   SOLE   2,298,500 0 462,100
RUSH ENTERPRISES INC CL A 781846209 44,187 1,321,000 SH   SOLE   1,122,100 0 198,900
SANOFI SPONSORED ADR 80105N105 558,404 9,895,521 SH   SOLE   5,504,392 0 4,391,129
SANTANDER CONSUMER USA HDG I COM 80283M101 476 26,700 SH   SOLE   26,700 0 0
SONIC AUTOMOTIVE INC CL A 83545G102 64,780 2,643,000 SH   SOLE   2,216,100 0 426,900
SOUTHERN CO COM 842587107 85,192 1,951,703 SH   SOLE   1,477,680 0 474,023
STANLEY BLACK & DECKER INC COM 854502101 279,147 3,143,903 SH   SOLE   2,059,508 0 1,084,395
STAPLES INC COM 855030102 77,778 6,427,918 SH   SOLE   6,248,718 0 179,200
SUNTRUST BKS INC COM 867914103 300,500 7,901,656 SH   SOLE   5,527,556 0 2,374,100
SYMANTEC CORP COM 871503108 49,726 2,115,087 SH   SOLE   2,053,087 0 62,000
SYMETRA FINL CORP COM 87151Q106 15,733 674,375 SH   SOLE   561,365 0 113,010
SYNOVUS FINL CORP COM NEW 87161C501 19,161 810,540 SH   SOLE   667,384 0 143,156
TARGET CORP COM 87612E106 475,794 7,590,839 SH   SOLE   4,307,986 0 3,282,853
TARO PHARMACEUTICAL INDS LTD SHS M8737E108 42,321 275,064 SH   SOLE   221,264 0 53,800
TE CONNECTIVITY LTD REG SHS H84989104 50,473 912,880 SH   SOLE   370,525 0 542,355
TERADATA CORP DEL COM 88076W103 108,115 2,579,073 SH   SOLE   1,680,373 0 898,700
TEXAS INSTRS INC COM 882508104 59,093 1,239,100 SH   SOLE   479,500 0 759,600
TIME WARNER CABLE INC COM 88732J207 239,047 1,665,949 SH   SOLE   858,548 0 807,401
TOTAL S A SPONSORED ADR 89151E109 69,985 1,085,888 SH   SOLE   803,059 0 282,829
TRI POINTE HOMES INC COM 87265H109 19,757 1,526,806 SH   SOLE   1,411,306 0 115,500
TUTOR PERINI CORP COM 901109108 536 20,300 SH   SOLE   20,300 0 0
UNITEDHEALTH GROUP INC COM 91324P102 506,459 5,871,988 SH   SOLE   3,298,093 0 2,573,895
UNUM GROUP COM 91529Y106 432,316 12,574,622 SH   SOLE   8,384,588 0 4,190,034
VERIZON COMMUNICATIONS INC COM 92343V104 132,533 243,800 SH Put SOLE   243,800 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 564,454 17,161,876 SH   SOLE   9,657,756 0 7,504,120
WAL-MART STORES INC COM 931142103 555,299 7,261,652 SH   SOLE   4,216,574 0 3,045,078
WEBSTER FINL CORP CONN COM 947890109 17,816 611,400 SH   SOLE   503,600 0 107,800
WELLCARE HEALTH PLANS INC COM 94946T106 95,112 1,576,274 SH   SOLE   1,386,774 0 189,500
WELLPOINT INC COM 94973V107 321,588 2,688,416 SH   SOLE   1,499,492 0 1,188,924
WELLS FARGO & CO NEW COM 949746101 273,040 5,263,925 SH   SOLE   2,996,593 0 2,267,332
WESTAR ENERGY INC COM 95709T100 6,684 195,900 SH   SOLE   169,000 0 26,900
WESTERN UN CO COM 959802109 34,881 2,174,655 SH   SOLE   2,110,955 0 63,700
WHITE MTNS INS GROUP LTD COM G9618E107 162,108 257,286 SH   SOLE   249,786 0 7,500
WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 172,252 4,160,688 SH   SOLE   4,043,288 0 117,400
XL GROUP PLC SHS G98290102 26,349 794,368 SH   SOLE   768,668 0 25,700
ZIMMER HLDGS INC COM 98956P102 147,843 1,470,345 SH   SOLE   866,704 0 603,641
ZIONS BANCORPORATION COM 989701107 55,098 1,896,010 SH   SOLE   1,840,610 0 55,400