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 47,874 747,800 SH   SOLE   359,600 0 388,200
AIR T INC COM 009207101 489 42,900 SH   SOLE   42,900 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 19,662 201,539 SH   SOLE   159,139 0 42,400
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 27,789 279,600 SH   SOLE   269,200 0 10,400
ALLSTATE CORP COM 020002101 383,935 7,595,158 SH   SOLE   4,847,558 0 2,747,600
AMDOCS LTD ORD G02602103 19,456 531,000 SH   SOLE   512,700 0 18,300
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 2,225 117,400 SH   SOLE   117,400 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 662,548 13,624,257 SH   SOLE   8,807,857 0 4,816,400
ARGO GROUP INTL HLDGS LTD COM G0464B107 28,002 653,030 SH   SOLE   486,850 0 166,180
ARRIS GROUP INC NEW COM 04270V106 197,272 11,563,426 SH   SOLE   10,616,226 0 947,200
ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 7,143 7,775,000 PRN   SOLE   7,775,000 0 0
ASSOCIATED BANC CORP COM 045487105 17,611 1,136,897 SH   SOLE   891,797 0 245,100
ASSURANT INC COM 04621X108 50,461 932,734 SH   SOLE   750,034 0 182,700
ASTRAZENECA PLC SPONSORED ADR 046353108 255,103 4,912,449 SH   SOLE   3,086,849 0 1,825,600
AVIS BUDGET GROUP COM 053774105 88,214 3,059,800 SH   SOLE   2,642,100 0 417,700
AVNET INC COM 053807103 11,725 281,100 SH   SOLE   271,700 0 9,400
BANK NEW YORK MELLON CORP COM 064058100 153,233 5,075,607 SH   SOLE   3,098,807 0 1,976,800
BANK OF AMERICA CORPORATION COM 060505104 584,345 42,343,870 SH   SOLE   27,303,355 0 15,040,515
BB&T CORP COM 054937107 39,187 1,161,102 SH   SOLE   901,002 0 260,100
BIG LOTS INC COM 089302103 31,174 840,500 SH   SOLE   701,800 0 138,700
BLOCK H & R INC COM 093671105 37,399 1,402,800 SH   SOLE   1,354,800 0 48,000
BOEING CO COM 097023105 238,096 2,026,350 SH   SOLE   1,281,150 0 745,200
BOULDER TOTAL RETURN FD INC COM 101541100 826 37,900 SH   SOLE   37,900 0 0
CA INC COM 12673P105 36,191 1,219,794 SH   SOLE   1,174,294 0 45,500
CAPITAL ONE FINL CORP COM 14040H105 399,544 5,812,399 SH   SOLE   3,688,099 0 2,124,300
CAPLEASE INC COM 140288101 14,663 1,727,100 SH   SOLE   1,466,600 0 260,500
CARNIVAL CORP PAIRED CTF 143658300 35,745 1,095,132 SH   SOLE   570,232 0 524,900
CDW CORP COM 12514G108 26,106 1,143,500 SH   SOLE   1,101,600 0 41,900
CIBER INC COM 17163B102 1,010 306,100 SH   SOLE   224,100 0 82,000
CIRCOR INTL INC COM 17273K109 19,730 317,300 SH   SOLE   275,700 0 41,600
CITIGROUP INC COM NEW 172967424 561,671 11,578,455 SH   SOLE   7,445,544 0 4,132,911
CNO FINL GROUP INC COM 12621E103 39,785 2,762,834 SH   SOLE   2,205,034 0 557,800
COBALT INTL ENERGY INC COM 19075F106 322,053 12,954,669 SH   SOLE   8,761,169 0 4,193,500
COMCAST CORP NEW CL A SPL 20030N200 125,782 2,900,219 SH   SOLE   1,955,819 0 944,400
COMERICA INC COM 200340107 18,264 464,620 SH   SOLE   448,520 0 16,100
COMVERSE INC COM 20585P105 27,052 846,710 SH   SOLE   709,580 0 137,130
CON-WAY INC COM 205944101 154,864 3,593,962 SH   SOLE   3,191,862 0 402,100
CORNING INC COM 219350105 430,519 29,507,790 SH   SOLE   18,612,090 0 10,895,700
CORRECTIONS CORP AMER NEW COM NEW 22025Y407 262 7,579 SH   SOLE   7,579 0 0
COVIDIEN PLC SHS G2554F113 75,244 1,234,722 SH   SOLE   625,322 0 609,400
CUMMINS INC COM 231021106 328,647 2,473,451 SH   SOLE   1,595,251 0 878,200
DELPHI AUTOMOTIVE PLC SHS G27823106 65,495 1,121,100 SH   SOLE   702,600 0 418,500
DEVRY INC DEL COM 251893103 7,476 244,623 SH   SOLE   193,023 0 51,600
EDISON INTL COM 281020107 101,497 2,203,574 SH   SOLE   1,375,474 0 828,100
EMBRAER S A SP ADR REP 4 COM 29082A107 100,433 3,093,098 SH   SOLE   2,226,398 0 866,700
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 14,397 268,000 SH   SOLE   202,700 0 65,300
EXELON CORP COM 30161N101 447,702 15,104,659 SH   SOLE   9,817,959 0 5,286,700
FEDEX CORP COM 31428X106 134,330 1,177,200 SH   SOLE   568,700 0 608,500
FIRST FINL HLDGS INC NEW COM 32023E105 5,144 93,250 SH   SOLE   71,870 0 21,380
FIRST HORIZON NATL CORP COM 320517105 112,796 10,263,529 SH   SOLE   9,174,097 0 1,089,432
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 8,889 368,082 SH   SOLE   345,045 0 23,037
FIRST NIAGARA FINL GP INC COM 33582V108 7,138 688,300 SH   SOLE   521,800 0 166,500
FORD MTR CO DEL COM PAR $0.01 345370860 1,053 62,400 SH   SOLE   0 0 62,400
FRESH DEL MONTE PRODUCE INC ORD G36738105 27,488 926,158 SH   SOLE   891,958 0 34,200
GENERAL MLS INC COM 370334104 690 14,400 SH   SOLE   0 0 14,400
GENERAL MTRS CO COM 37045V100 90,214 2,508,040 SH   SOLE   1,278,840 0 1,229,200
GEO GROUP INC COM 36159R103 28,206 848,292 SH   SOLE   686,108 0 162,184
GLOBAL INDEMNITY PLC SHS G39319101 30,490 1,197,567 SH   SOLE   920,500 0 277,067
GOODYEAR TIRE & RUBR CO COM 382550101 125,267 5,579,814 SH   SOLE   5,377,714 0 202,100
GOODYEAR TIRE & RUBR CO PFD CONV 5.875% 382550309 10,577 166,100 PRN   SOLE   166,100 0 0
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 13,611 381,800 SH   SOLE   301,000 0 80,800
GREAT PLAINS ENERGY INC COM 391164100 166,585 7,503,848 SH   SOLE   6,932,048 0 571,800
HANGER INC COM NEW 41043F208 11,887 352,100 SH   SOLE   277,900 0 74,200
HANOVER INS GROUP INC COM 410867105 5,377 97,200 SH   SOLE   97,200 0 0
HEALTH MGMT ASSOC INC NEW CL A 421933102 6,124 478,400 SH   SOLE   407,200 0 71,200
HEIDRICK & STRUGGLES INTL IN COM 422819102 6,965 365,400 SH   SOLE   277,900 0 87,500
HESS CORP COM 42809H107 10,619 137,300 SH   SOLE   130,900 0 6,400
HEWLETT PACKARD CO COM 428236103 499,710 23,818,396 SH   SOLE   15,231,496 0 8,586,900
HOME FED BANCORP INC MD COM 43710G105 2,151 171,000 SH   SOLE   171,000 0 0
HORACE MANN EDUCATORS CORP N COM 440327104 37,303 1,314,429 SH   SOLE   1,038,929 0 275,500
HORSEHEAD HLDG CORP COM 440694305 23,379 1,876,300 SH   SOLE   1,461,900 0 414,400
HUDSON GLOBAL INC COM 443787106 15,390 4,749,975 SH   SOLE   3,338,920 0 1,411,055
HUMANA INC COM 444859102 271,163 2,905,421 SH   SOLE   2,142,421 0 763,000
HUNTINGTON INGALLS INDS INC COM 446413106 101,484 1,505,702 SH   SOLE   1,312,302 0 193,400
INGRAM MICRO INC CL A 457153104 94,308 4,091,442 SH   SOLE   3,947,842 0 143,600
INTERNATIONAL BUSINESS MACHS COM 459200101 189,584 1,023,782 SH   SOLE   639,082 0 384,700
INTERPUBLIC GROUP COS INC COM 460690100 267,786 15,587,107 SH   SOLE   10,823,011 0 4,764,096
INTERSIL CORP CL A 46069S109 7,468 665,000 SH   SOLE   521,600 0 143,400
ISHARES RUS 2000 VAL ETF 464287630 13,022 142,100 SH   SOLE   142,100 0 0
ISHARES RUSSELL 2000 ETF 464287655 13,370 125,400 SH   SOLE   125,400 0 0
JAKKS PAC INC NOTE 4.500%11/0 47012EAD8 47 50,000 PRN   SOLE   50,000 0 0
JETBLUE AIRWAYS CORP COM 477143101 62,209 9,340,662 SH   SOLE   8,392,662 0 948,000
JOHNSON & JOHNSON COM 478160104 358,453 4,134,878 SH   SOLE   2,553,078 0 1,581,800
JOHNSON CTLS INC COM 478366107 369,598 8,905,985 SH   SOLE   5,543,385 0 3,362,600
JPMORGAN CHASE & CO COM 46625H100 685,542 13,262,568 SH   SOLE   8,481,397 0 4,781,171
KAISER ALUMINUM CORP COM PAR $0.01 483007704 15,967 224,100 SH   SOLE   179,000 0 45,100
KELLOGG CO COM 487836108 64,609 1,100,110 SH   SOLE   535,010 0 565,100
KEYCORP NEW COM 493267108 47,175 4,138,127 SH   SOLE   3,989,427 0 148,700
KOHLS CORP COM 500255104 100,385 1,939,800 SH   SOLE   1,870,200 0 69,600
KORN FERRY INTL COM NEW 500643200 7,197 336,300 SH   SOLE   263,500 0 72,800
KOSMOS ENERGY LTD SHS G5315B107 144,011 14,008,895 SH   SOLE   12,314,395 0 1,694,500
LAKES ENTMNT INC COM 51206P109 2,443 590,000 SH   SOLE   451,900 0 138,100
LEAR CORP COM NEW 521865204 141,364 1,975,188 SH   SOLE   1,697,388 0 277,800
LIFEPOINT HOSPITALS INC COM 53219L109 47,497 1,018,600 SH   SOLE   836,600 0 182,000
LOCKHEED MARTIN CORP COM 539830109 222,606 1,745,246 SH   SOLE   1,149,046 0 596,200
LOWES COS INC COM 548661107 124,476 2,614,501 SH   SOLE   1,634,701 0 979,800
MAGNA INTL INC COM 559222401 149,490 1,810,689 SH   SOLE   1,361,789 0 448,900
MANPOWERGROUP INC COM 56418H100 94,168 1,294,590 SH   SOLE   1,092,090 0 202,500
MARATHON OIL CORP COM 565849106 184,857 5,299,801 SH   SOLE   3,383,401 0 1,916,400
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 34,380 2,989,600 SH   SOLE   2,884,100 0 105,500
MASONITE INTL CORP NEW COM 575385109 53,480 1,093,000 SH   SOLE   889,900 0 203,100
MATSON INC COM 57686G105 25,716 980,400 SH   SOLE   793,600 0 186,800
MCDERMOTT INTL INC COM 580037109 29,385 3,954,900 SH   SOLE   3,634,900 0 320,000
MEDTRONIC INC COM 585055106 93,150 1,749,300 SH   SOLE   958,900 0 790,400
MERCK & CO INC NEW COM 58933Y105 50,419 1,059,010 SH   SOLE   810,910 0 248,100
MERITOR INC COM 59001K100 34,480 4,386,773 SH   SOLE   3,593,273 0 793,500
MICROSOFT CORP COM 594918104 526,489 15,805,734 SH   SOLE   10,165,734 0 5,640,000
MILLER INDS INC TENN COM NEW 600551204 28,360 1,670,228 SH   SOLE   1,192,536 0 477,692
MOLSON COORS BREWING CO CL B 60871R209 141,143 2,815,539 SH   SOLE   2,368,939 0 446,600
MONDELEZ INTL INC CL A 609207105 122,298 3,892,369 SH   SOLE   2,237,769 0 1,654,600
MORGAN STANLEY COM NEW 617446448 62,872 2,332,900 SH   SOLE   1,132,600 0 1,200,300
MURPHY OIL CORP COM 626717102 167,594 2,778,416 SH   SOLE   1,892,516 0 885,900
NATIONAL WESTN LIFE INS CO CL A 638522102 3,580 17,745 SH   SOLE   13,445 0 4,300
NAVISTAR INTL CORP NEW COM 63934E108 20,673 566,700 SH   SOLE   546,800 0 19,900
NEWS CORP NEW CL A 65249B109 19,472 1,212,460 SH   SOLE   1,169,660 0 42,800
NEXTERA ENERGY INC COM 65339F101 770 9,600 SH   SOLE   9,600 0 0
NORANDA ALUM HLDG CORP COM 65542W107 13,543 5,505,398 SH   SOLE   4,513,298 0 992,100
NORTHERN TR CORP COM 665859104 27,108 498,400 SH   SOLE   479,400 0 19,000
NORTHROP GRUMMAN CORP COM 666807102 102,682 1,077,909 SH   SOLE   722,509 0 355,400
NOVARTIS A G SPONSORED ADR 66987V109 163,110 2,126,326 SH   SOLE   1,281,126 0 845,200
NRG ENERGY INC COM NEW 629377508 421,182 15,410,991 SH   SOLE   11,549,006 0 3,861,985
ON SEMICONDUCTOR CORP COM 682189105 126,606 17,343,300 SH   SOLE   16,098,200 0 1,245,100
ORACLE CORP COM 68389X105 457,136 13,781,616 SH   SOLE   8,752,016 0 5,029,600
PACCAR INC COM 693718108 236,229 4,244,147 SH   SOLE   2,623,547 0 1,620,600
PEPSICO INC COM 713448108 43,517 547,384 SH   SOLE   257,484 0 289,900
PFIZER INC COM 717081103 5,802 202,100 SH   SOLE   202,100 0 0
PHARMERICA CORP COM 71714F104 17,019 1,282,495 SH   SOLE   975,695 0 306,800
PHH CORP COM NEW 693320202 136,529 5,751,000 SH   SOLE   5,192,600 0 558,400
PHILIP MORRIS INTL INC COM 718172109 5,970 68,940 SH   SOLE   68,940 0 0
PORTLAND GEN ELEC CO COM NEW 736508847 4,271 151,300 SH   SOLE   151,300 0 0
PPL CORP COM 69351T106 155,373 5,114,313 SH   SOLE   4,536,013 0 578,300
PUBLIC SVC ENTERPRISE GROUP COM 744573106 432,621 13,137,595 SH   SOLE   9,488,095 0 3,649,500
QLOGIC CORP COM 747277101 15,763 1,440,857 SH   SOLE   1,116,657 0 324,200
QUEST DIAGNOSTICS INC COM 74834L100 129,506 2,095,900 SH   SOLE   1,609,600 0 486,300
QUIKSILVER INC COM 74838C106 28,038 3,988,400 SH   SOLE   3,173,400 0 815,000
REGIONS FINL CORP NEW COM 7591EP100 101,441 10,954,800 SH   SOLE   10,565,900 0 388,900
RENT A CTR INC NEW COM 76009N100 154,247 4,048,470 SH   SOLE   3,633,070 0 415,400
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 11,912 555,844 SH   SOLE   555,844 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 558,945 8,118,307 SH   SOLE   5,180,407 0 2,937,900
RUBY TUESDAY INC COM 781182100 11,015 1,468,600 SH   SOLE   1,145,700 0 322,900
RUSH ENTERPRISES INC CL A 781846209 39,031 1,472,300 SH   SOLE   1,151,100 0 321,200
SANOFI SPONSORED ADR 80105N105 242,332 4,786,334 SH   SOLE   3,033,634 0 1,752,700
SONIC AUTOMOTIVE INC CL A 83545G102 26,470 1,112,200 SH   SOLE   878,000 0 234,200
SOUTHERN CO COM 842587107 60,489 1,468,899 SH   SOLE   1,139,399 0 329,500
STANLEY BLACK & DECKER INC COM 854502101 228,799 2,526,212 SH   SOLE   1,783,812 0 742,400
STAPLES INC COM 855030102 54,762 3,738,000 SH   SOLE   3,600,200 0 137,800
STONE ENERGY CORP COM 861642106 25,624 790,126 SH   SOLE   756,626 0 33,500
SUNTRUST BKS INC COM 867914103 298,011 9,192,189 SH   SOLE   6,505,789 0 2,686,400
SYMANTEC CORP COM 871503108 16,157 652,800 SH   SOLE   628,500 0 24,300
SYMETRA FINL CORP COM 87151Q106 38,552 2,163,432 SH   SOLE   1,691,222 0 472,210
SYMMETRICOM INC COM 871543104 4,001 830,000 SH   SOLE   614,900 0 215,100
SYNOVUS FINL CORP COM 87161C105 19,489 5,905,665 SH   SOLE   4,567,665 0 1,338,000
TARGET CORP COM 87612E106 413,255 6,459,127 SH   SOLE   4,107,627 0 2,351,500
TARO PHARMACEUTICAL INDS LTD SHS M8737E108 33,339 438,675 SH   SOLE   367,275 0 71,400
TE CONNECTIVITY LTD REG SHS H84989104 141,098 2,724,955 SH   SOLE   1,760,675 0 964,280
TEXAS INSTRS INC COM 882508104 72,603 1,802,900 SH   SOLE   924,200 0 878,700
TIME WARNER CABLE INC COM 88732J207 121,443 1,088,200 SH   SOLE   526,600 0 561,600
TORCHMARK CORP COM 891027104 32,963 455,600 SH   SOLE   439,100 0 16,500
TOTAL S A SPONSORED ADR 89151E109 571,403 9,865,383 SH   SOLE   6,230,983 0 3,634,400
TUTOR PERINI CORP COM 901109108 15,193 712,599 SH   SOLE   550,099 0 162,500
UNITED STATES STL CORP NEW COM 912909108 1,281 75,000 SH Put SOLE   75,000 0 0
UNITEDHEALTH GROUP INC COM 91324P102 410,893 5,737,924 SH   SOLE   3,681,424 0 2,056,500
UNUM GROUP COM 91529Y106 392,579 12,896,809 SH   SOLE   9,164,909 0 3,731,900
VALASSIS COMMUNICATIONS INC COM 918866104 204,811 7,091,787 SH   SOLE   6,446,787 0 645,000
VERIZON COMMUNICATIONS INC COM 92343V104 1,030 200,000 SH Put SOLE   200,000 0 0
VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 556,625 15,822,205 SH   SOLE   9,994,905 0 5,827,300
WAL-MART STORES INC COM 931142103 459,755 6,216,266 SH   SOLE   4,070,266 0 2,146,000
WEBSTER FINL CORP CONN COM 947890109 14,713 576,292 SH   SOLE   450,992 0 125,300
WELLCARE HEALTH PLANS INC COM 94946T106 73,053 1,047,500 SH   SOLE   916,100 0 131,400
WELLPOINT INC COM 94973V107 259,967 3,109,279 SH   SOLE   1,982,379 0 1,126,900
WELLS FARGO & CO NEW COM 949746101 353,491 8,554,967 SH   SOLE   5,432,698 0 3,122,269
WESTAR ENERGY INC COM 95709T100 5,845 190,700 SH   SOLE   163,800 0 26,900
WESTERN UN CO COM 959802109 28,302 1,516,700 SH   SOLE   1,461,100 0 55,600
WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 120,896 2,790,114 SH   SOLE   2,691,314 0 98,800
XL GROUP PLC SHS G98290102 18,350 595,400 SH   SOLE   574,300 0 21,100
ZIMMER HLDGS INC COM 98956P102 150,001 1,826,163 SH   SOLE   1,290,163 0 536,000
ZIONS BANCORPORATION COM 989701107 36,688 1,338,001 SH   SOLE   1,290,901 0 47,100