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 51,959 920,605 SH   SOLE   371,360 0 549,245
ABERCROMBIE & FITCH CO CL A 002896207 132,412 3,061,543 SH   SOLE   1,646,647 0 1,414,896
ABM INDS INC COM 000957100 38,934 1,443,063 SH   SOLE   951,134 0 491,929
ACACIA RESH CORP ACACIA TCH COM 003881307 65,957 3,715,899 SH   SOLE   2,980,273 0 735,626
ADTRAN INC COM 00738A106 27,430 1,215,874 SH   SOLE   801,105 0 414,769
AK STL HLDG CORP COM 001547108 849 106,600 SH   SOLE   106,600 0 0
ALLIANCE BANCORP INC PA NEW COM 01890a108 6,579 405,040 SH   SOLE   398,890 0 6,150
ALLY FINL INC COM 02005N100 10,618 444,100 SH   SOLE   444,100 0 0
ALON USA ENERGY INC COM 020520102 2,780 223,454 SH   SOLE   220,095 0 3,359
ALON USA PARTNERS LP UT LTDPART INT 02052T109 4,348 242,523 SH   SOLE   242,523 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 9,394 497,292 SH   SOLE   497,292 0 0
AMERICAN CAP LTD COM 02503Y103 2,701 176,661 SH   SOLE   176,661 0 0
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 107,198 9,554,200 SH   SOLE   4,735,038 0 4,819,162
AMERICAN INTL GROUP INC COM NEW 026874784 4,639 85,000 SH   SOLE   85,000 0 0
AMERICAN SCIENCE & ENGR INC COM 029429107 13,136 188,769 SH   SOLE   186,514 0 2,255
AMGEN INC COM 031162100 100,258 846,990 SH   SOLE   342,750 0 504,240
ARTESIAN RESOURCES CORP CL A 043113208 5,120 227,738 SH   SOLE   224,308 0 3,430
ASSURED GUARANTY LTD COM g0585r106 13,353 545,040 SH   SOLE   545,040 0 0
ASTEC INDS INC COM 046224101 24,869 566,742 SH   SOLE   370,198 0 196,544
ASTORIA FINL CORP COM 046265104 32,351 2,405,281 SH   SOLE   1,632,734 0 772,547
AT&T INC COM 00206R102 102,407 2,896,125 SH   SOLE   1,202,040 0 1,694,085
AVERY DENNISON CORP COM 053611109 49,118 958,400 SH   SOLE   390,250 0 568,150
AXIALL CORP COM 05463D100 44,471 940,796 SH   SOLE   629,392 0 311,404
BALDWIN & LYONS INC CL B 057755209 6,779 261,319 SH   SOLE   257,399 0 3,920
BALTIC TRADING LIMITED COM Y0553W103 314 52,500 SH   SOLE   52,500 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 503 8,700 SH   SOLE   8,700 0 0
BANK MUTUAL CORP NEW COM 063750103 10,482 1,807,163 SH   SOLE   1,784,903 0 22,260
BANK NEW YORK MELLON CORP COM 064058100 78,060 2,082,713 SH   SOLE   850,400 0 1,232,313
BANK OF AMERICA CORPORATION COM 060505104 17,348 1,128,660 SH   SOLE   1,128,660 0 0
BAXTER INTL INC COM 071813109 74,623 1,032,136 SH   SOLE   415,750 0 616,386
BB&T CORP COM 054937107 97,465 2,471,840 SH   SOLE   995,020 0 1,476,820
BEBE STORES INC COM 075571109 11,940 3,914,705 SH   SOLE   3,867,565 0 47,140
BEMIS INC COM 081437105 49,229 1,210,750 SH   SOLE   496,900 0 713,850
BIG 5 SPORTING GOODS CORP COM 08915P101 6,292 512,762 SH   SOLE   505,062 0 7,700
BLACKBAUD INC COM 09227Q100 46,495 1,300,915 SH   SOLE   883,088 0 417,827
BRIGGS & STRATTON CORP COM 109043109 30,210 1,476,518 SH   SOLE   965,150 0 511,368
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 11,760 566,734 SH   SOLE   566,734 0 0
BROOKLINE BANCORP INC DEL COM 11373m107 44,682 4,768,580 SH   SOLE   3,487,251 0 1,281,329
C D I CORP COM 125071100 5,457 378,716 SH   SOLE   373,016 0 5,700
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 51,364 805,201 SH   SOLE   333,555 0 471,646
CALIFORNIA WTR SVC GROUP COM 130788102 28,654 1,184,067 SH   SOLE   821,123 0 362,944
CAPITOL FED FINL INC COM 14057j101 32,119 2,641,347 SH   SOLE   1,788,925 0 852,422
CARDINAL FINL CORP COM 14149F109 9,484 513,736 SH   SOLE   506,031 0 7,705
CATCHMARK TIMBER TR INC CL A 14912Y202 9,455 691,627 SH   SOLE   681,227 0 10,400
CHARTER FINL CORP MD COM 16122W108 5,602 504,645 SH   SOLE   497,055 0 7,590
CHEMICAL FINL CORP COM 163731102 32,048 1,141,324 SH   SOLE   751,109 0 390,215
CHEROKEE INC DEL NEW COM 16444H102 827 54,460 SH   SOLE   53,637 0 823
CHEVRON CORP NEW COM 166764100 55,627 426,100 SH   SOLE   174,100 0 252,000
CHICOS FAS INC COM 168615102 45,826 2,701,992 SH   SOLE   1,795,685 0 906,307
CHIMERA INVT CORP COM 16934Q109 1,914 600,000 SH   SOLE   600,000 0 0
CISCO SYS INC COM 17275R102 81,714 3,288,277 SH   SOLE   1,341,850 0 1,946,427
CITIGROUP INC *W EXP 01/04/201 172967226 2,416 3,960,500 SH   SOLE   3,960,500 0 0
CITIGROUP INC COM NEW 172967424 5,652 120,000 SH   SOLE   120,000 0 0
CLARCOR INC COM 179895107 50,759 820,683 SH   SOLE   536,558 0 284,125
COACH INC COM 189754104 58,519 1,711,590 SH   SOLE   702,535 0 1,009,055
COHU INC COM 192576106 30,556 2,855,696 SH   SOLE   2,285,391 0 570,305
COLUMBIA BKG SYS INC COM 197236102 22,820 867,362 SH   SOLE   566,088 0 301,274
COMFORT SYS USA INC COM 199908104 1,653 104,626 SH   SOLE   103,046 0 1,580
COMMUNICATIONS SYS INC COM 203900105 4,277 344,107 SH   SOLE   338,927 0 5,180
CONNECTICUT WTR SVC INC COM 207797101 8,403 248,100 SH   SOLE   244,900 0 3,200
CON-WAY INC COM 205944101 3,620 71,807 SH   SOLE   47,338 0 24,469
CREDICORP LTD COM G2519Y108 633 4,070 SH   SOLE   4,070 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 2,837 100,000 SH   SOLE   100,000 0 0
CULLEN FROST BANKERS INC COM 229899109 48,991 616,856 SH   SOLE   254,855 0 362,001
CVB FINL CORP COM 126600105 17,784 1,109,402 SH   SOLE   725,380 0 384,022
CVR REFNG LP COMUNIT REP LT 12663P107 6,273 250,826 SH   SOLE   250,826 0 0
DAKTRONICS INC COM 234264109 6,513 546,382 SH   SOLE   538,187 0 8,195
DANAOS CORPORATION SHS Y1968P105 29,224 4,970,050 SH   SOLE   4,970,050 0 0
DAWSON GEOPHYSICAL CO COM 239359102 882 30,794 SH   SOLE   30,344 0 450
DEAN FOODS CO NEW COM NEW 242370203 52,304 2,973,533 SH   SOLE   2,153,416 0 820,117
DEERE & CO COM 244199105 63,251 698,517 SH   SOLE   281,035 0 417,482
DELEK US HLDGS INC COM 246647101 20,256 717,539 SH   SOLE   483,351 0 234,188
DEUTSCHE BANK AG NAMEN AKT D18190898 4,925 140,000 SH   SOLE   120,060 0 19,940
DIANA CONTAINERSHIPS INC COM Y2069P101 2,216 875,881 SH   SOLE   875,881 0 0
DIEBOLD INC COM 253651103 29,687 739,045 SH   SOLE   501,151 0 237,894
DIME CMNTY BANCSHARES COM 253922108 9,432 597,365 SH   SOLE   589,815 0 7,550
DONEGAL GROUP INC CL A 257701201 10,206 667,048 SH   SOLE   658,543 0 8,505
DOUGLAS DYNAMICS INC COM 25960r105 3,440 195,237 SH   SOLE   192,317 0 2,920
DRYSHIPS INC SHS Y2109Q101 483 150,000 SH   SOLE   150,000 0 0
EAGLE BANCORP MONT INC COM 26942G100 4,500 428,530 SH   SOLE   422,090 0 6,440
EASTERN CO COM 276317104 9,917 642,283 SH   SOLE   634,318 0 7,965
ELECTRO SCIENTIFIC INDS COM 285229100 6,107 896,823 SH   SOLE   886,013 0 10,810
EMERALD OIL INC COM NEW 29101U209 6,272 819,816 SH   SOLE   819,816 0 0
EMERSON ELEC CO COM 291011104 51,879 781,779 SH   SOLE   318,490 0 463,289
ENTERPRISE FINL SVCS CORP COM 293712105 9,767 540,828 SH   SOLE   532,698 0 8,130
ESSA BANCORP INC COM 29667D104 4,922 442,199 SH   SOLE   435,519 0 6,680
ETHAN ALLEN INTERIORS INC COM 297602104 32,616 1,318,358 SH   SOLE   892,965 0 425,393
EXXON MOBIL CORP COM 30231g102 109,219 1,084,814 SH   SOLE   457,870 0 626,944
FBR & CO COM NEW 30247C400 10,304 379,819 SH   SOLE   379,819 0 0
FEMALE HEALTH CO COM 314462102 6,160 1,117,916 SH   SOLE   1,101,116 0 16,800
FIFTH THIRD BANCORP COM 316773100 86,202 4,037,550 SH   SOLE   1,707,850 0 2,329,700
FINANCIAL INSTNS INC COM 317585404 8,538 364,540 SH   SOLE   359,060 0 5,480
FIRST BANCORP INC ME COM 31866P102 4,156 238,034 SH   SOLE   234,444 0 3,590
FIRST FINL BANCORP OH COM 320209109 40,549 2,356,144 SH   SOLE   1,598,571 0 757,573
FIRST HORIZON NATL CORP COM 320517105 2,632 221,900 SH   SOLE   221,900 0 0
FIRSTMERIT CORP COM 337915102 50,890 2,576,700 SH   SOLE   1,072,265 0 1,504,435
FIVE OAKS INVT CORP COM 33830W106 1,129 100,000 SH   SOLE   100,000 0 0
FLY LEASING LTD SPONSORED ADR 34407D109 3,980 274,649 SH   SOLE   274,649 0 0
FNB CORP PA COM 302520101 47,248 3,685,511 SH   SOLE   2,408,062 0 1,277,449
FORD MTR CO DEL COM PAR $0.01 345370860 92,478 5,364,130 SH   SOLE   2,179,110 0 3,185,020
FORESTAR GROUP INC COM 346233109 6,655 348,603 SH   SOLE   348,603 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 10,495 1,410,590 SH   SOLE   1,410,590 0 0
FORWARD AIR CORP COM 349853101 32,436 677,878 SH   SOLE   458,810 0 219,068
FREEPORT-MCMORAN COPPER & GO COM 35671D857 103,099 2,824,620 SH   SOLE   1,146,070 0 1,678,550
FREIGHTCAR AMER INC COM 357023100 6,284 250,976 SH   SOLE   247,206 0 3,770
GALLAGHER ARTHUR J & CO COM 363576109 51,732 1,110,126 SH   SOLE   460,530 0 649,596
GAP INC DEL COM 364760108 6,111 147,000 SH   SOLE   147,000 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 25,821 1,006,286 SH   SOLE   663,084 0 343,202
GENERAL ELECTRIC CO COM 369604103 98,815 3,760,100 SH   SOLE   1,524,776 0 2,235,324
GENERAL MTRS CO COM 37045V100 93,026 2,562,700 SH   SOLE   1,046,500 0 1,516,200
GENERAL MTRS CO *W EXP 07/10/201 37045V126 28,395 1,529,910 SH   SOLE   1,529,910 0 0
GENWORTH FINL INC COM CL A 37247D106 11,345 652,000 SH   SOLE   652,000 0 0
GERDAU S A SPON ADR REP PFD 373737105 479 81,400 SH   SOLE   81,400 0 0
GLADSTONE LD CORP COM 376549101 7,812 601,394 SH   SOLE   594,064 0 7,330
GLOBAL POWER EQUIPMENT GRP I COM PAR $0.01 37941P306 7,142 441,936 SH   SOLE   403,041 0 38,895
GLOBAL SHIP LEASE INC NEW SHS A Y27183105 27,147 6,589,074 SH   SOLE   6,589,074 0 0
GNC HLDGS INC COM CL A 36191G107 2,904 85,164 SH   SOLE   85,164 0 0
GRAMERCY PPTY TR INC COM 38489R100 5,284 873,427 SH   SOLE   873,427 0 0
GRANITE CONSTR INC COM 387328107 52,562 1,460,859 SH   SOLE   990,338 0 470,521
GREAT LAKES DREDGE & DOCK CO COM 390607109 10,072 1,260,523 SH   SOLE   1,245,403 0 15,120
GREEN DOT CORP CL A 39304D102 2,960 155,952 SH   SOLE   155,952 0 0
GREIF INC CL A 397624107 35,475 650,205 SH   SOLE   431,516 0 218,689
GUESS INC COM 401617105 105,791 3,918,200 SH   SOLE   1,911,530 0 2,006,670
GULF ISLAND FABRICATION INC COM 402307102 11,533 535,914 SH   SOLE   529,244 0 6,670
GULFMARK OFFSHORE INC CL A NEW 402629208 26,848 594,237 SH   SOLE   397,534 0 196,703
HANCOCK HLDG CO COM 410120109 46,743 1,323,427 SH   SOLE   888,928 0 434,499
HARSCO CORP COM 415864107 83,026 3,117,755 SH   SOLE   1,638,708 0 1,479,047
HAYNES INTERNATIONAL INC COM NEW 420877201 28,964 511,830 SH   SOLE   397,281 0 114,549
HEALTHCARE RLTY TR COM 421946104 22,158 871,668 SH   SOLE   583,989 0 287,679
HERITAGE FINL CORP WASH COM 42722x106 13,549 842,080 SH   SOLE   830,945 0 11,135
HF FINL CORP COM 404172108 2,277 163,954 SH   SOLE   161,504 0 2,450
HITTITE MICROWAVE CORP COM 43365Y104 5,640 72,348 SH   SOLE   51,136 0 21,212
HOPFED BANCORP INC COM 439734104 3,241 278,926 SH   SOLE   274,726 0 4,200
HOWARD HUGHES CORP COM 44267D107 16,434 104,122 SH   SOLE   104,122 0 0
HUDSON VALLEY HOLDING CORP COM 444172100 10,459 579,443 SH   SOLE   572,323 0 7,120
IBERIABANK CORP COM 450828108 33,665 486,564 SH   SOLE   328,301 0 158,263
ICICI BK LTD ADR 45104G104 494 9,900 SH   SOLE   9,900 0 0
INFINITY PPTY & CAS CORP COM 45665Q103 47,864 711,940 SH   SOLE   479,334 0 232,606
INFOSYS LTD SPONSORED ADR 456788108 4,403 81,880 SH   SOLE   71,460 0 10,420
INGREDION INC COM 457187102 10,613 141,432 SH   SOLE   110,200 0 31,232
INTEL CORP COM 458140100 51,426 1,664,288 SH   SOLE   684,650 0 979,638
INTERNATIONAL BUSINESS MACHS COM 459200101 86,671 478,130 SH   SOLE   194,050 0 284,080
INTERNATIONAL GAME TECHNOLOG COM 459902102 4,534 285,000 SH   SOLE   285,000 0 0
INTL PAPER CO COM 460146103 59,782 1,184,500 SH   SOLE   482,900 0 701,600
ISHARES MSCI TAIWAN ETF 464286731 1,453 91,990 SH   SOLE   91,990 0 0
IXYS CORP COM 46600W106 11,015 894,039 SH   SOLE   882,889 0 11,150
JABIL CIRCUIT INC COM 466313103 37,784 1,807,834 SH   SOLE   738,750 0 1,069,084
JETBLUE AIRWAYS CORP COM 477143101 3,163 291,500 SH   SOLE   291,500 0 0
JMP GROUP INC COM 46629U107 4,660 615,624 SH   SOLE   606,379 0 9,245
JOHNSON CTLS INC COM 478366107 85,749 1,717,390 SH   SOLE   697,300 0 1,020,090
JPMORGAN CHASE & CO COM 46625h100 110,241 1,913,250 SH   SOLE   885,014 0 1,028,236
KELLOGG CO COM 487836108 53,372 812,362 SH   SOLE   330,950 0 481,412
KEY ENERGY SVCS INC COM 492914106 274 30,000 SH   SOLE   30,000 0 0
KINDER MORGAN INC DEL COM 49456B101 67,424 1,859,468 SH   SOLE   757,550 0 1,101,918
KNOLL INC COM NEW 498904200 21,033 1,213,685 SH   SOLE   860,484 0 353,201
KOHLS CORP COM 500255104 62,725 1,190,671 SH   SOLE   491,535 0 699,136
KRONOS WORLDWIDE INC COM 50105F105 35,170 2,244,431 SH   SOLE   1,482,318 0 762,113
LANDAUER INC COM 51476K103 14,408 343,056 SH   SOLE   338,641 0 4,415
LAS VEGAS SANDS CORP COM 517834107 12,888 169,096 SH   SOLE   169,096 0 0
LEAR CORP COM NEW 521865204 10,085 112,907 SH   SOLE   112,907 0 0
LIMONEIRA CO COM 532746104 2,380 108,312 SH   SOLE   108,312 0 0
LSI INDS INC COM 50216C108 6,147 770,352 SH   SOLE   758,807 0 11,545
M & T BK CORP COM 55261F104 49,100 395,807 SH   SOLE   161,400 0 234,407
M D C HLDGS INC COM 552676108 37,361 1,233,447 SH   SOLE   821,094 0 412,353
MAGNUM HUNTER RES CORP DEL COM 55973B102 5,378 655,801 SH   SOLE   655,801 0 0
MARATHON OIL CORP COM 565849106 90,097 2,256,946 SH   SOLE   920,280 0 1,336,666
MAXIM INTEGRATED PRODS INC COM 57772K101 48,254 1,427,210 SH   SOLE   587,710 0 839,500
MB FINANCIAL INC NEW COM 55264u108 23,891 883,218 SH   SOLE   576,499 0 306,719
MBIA INC COM 55262C100 7,053 638,900 SH   SOLE   638,900 0 0
MCDONALDS CORP COM 580135101 47,975 476,230 SH   SOLE   193,490 0 282,740
MCGRATH RENTCORP COM 580589109 4,693 127,695 SH   SOLE   83,285 0 44,410
MEDTRONIC INC COM 585055106 41,577 652,079 SH   SOLE   266,650 0 385,429
MELCO CROWN ENTMT LTD ADR 585464100 6,499 182,000 SH   SOLE   182,000 0 0
MEREDITH CORP COM 589433101 40,809 843,865 SH   SOLE   564,001 0 279,864
MERITOR INC COM 59001K100 1,086 83,300 SH   SOLE   83,300 0 0
METLIFE INC COM 59156R108 49,013 882,164 SH   SOLE   358,500 0 523,664
MICREL INC COM 594793101 36,863 3,267,987 SH   SOLE   2,328,547 0 939,440
MIDDLEBURG FINANCIAL CORP COM 596094102 9,011 450,549 SH   SOLE   444,909 0 5,640
MIDDLESEX WATER CO COM 596680108 4,003 188,980 SH   SOLE   186,140 0 2,840
MILLER HERMAN INC COM 600544100 23,355 772,336 SH   SOLE   514,486 0 257,850
MILLER INDS INC TENN COM NEW 600551204 7,133 346,612 SH   SOLE   341,408 0 5,204
MKS INSTRUMENT INC COM 55306N104 35,790 1,145,637 SH   SOLE   777,439 0 368,198
MORGAN STANLEY COM NEW 617446448 74,894 2,316,539 SH   SOLE   1,056,600 0 1,259,939
MOSAIC CO NEW COM 61945C103 53,490 1,081,701 SH   SOLE   441,700 0 640,001
MRC GLOBAL INC COM 55345K103 614 21,700 SH   SOLE   21,700 0 0
MURPHY OIL CORP COM 626717102 66,537 1,000,861 SH   SOLE   414,550 0 586,311
NATIONAL BK HLDGS CORP CL A 633707104 35,916 1,801,198 SH   SOLE   1,218,556 0 582,642
NATIONAL FUEL GAS CO N J COM 636180101 52,438 669,709 SH   SOLE   277,070 0 392,639
NATIONAL PENN BANCSHARES INC COM 637138108 40,214 3,800,969 SH   SOLE   2,575,871 0 1,225,098
NATIONSTAR MTG HLDGS INC COM 63861C109 2,541 70,000 SH   SOLE   70,000 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 3,664 259,653 SH   SOLE   259,653 0 0
NEW RESIDENTIAL INVT CORP COM 64828T102 34,914 5,541,941 SH   SOLE   3,719,480 0 1,822,461
NEWCASTLE INVT CORP COM 65105M108 17,987 3,755,060 SH   SOLE   3,755,060 0 0
NORTHEAST CMNTY BANCORP INC COM 664112109 2,052 290,252 SH   SOLE   285,902 0 4,350
NORTHERN TIER ENERGY LP COM UN REPR PART 665826103 6,258 234,034 SH   SOLE   234,034 0 0
NORTHERN TR CORP COM 665859104 81,978 1,276,723 SH   SOLE   523,240 0 753,483
NORTHFIELD BANCORP INC DEL COM 66611T108 10,981 837,633 SH   SOLE   547,491 0 290,142
NORTHWEST BANCSHARES INC MD COM 667340103 26,667 1,965,173 SH   SOLE   1,338,651 0 626,522
NORTHWEST NAT GAS CO COM 667655104 21,924 464,993 SH   SOLE   313,393 0 151,600
NUCOR CORP COM 670346105 68,188 1,384,530 SH   SOLE   565,380 0 819,150
NUTRI SYS INC NEW COM 67069D108 18,550 1,084,155 SH   SOLE   1,070,705 0 13,450
OCCIDENTAL PETE CORP DEL COM 674599105 101,656 990,507 SH   SOLE   401,550 0 588,957
OLD NATL BANCORP IND COM 680033107 30,602 2,142,983 SH   SOLE   1,451,934 0 691,049
OLIN CORP COM PAR $1 680665205 50,098 1,861,000 SH   SOLE   754,300 0 1,106,700
PACIFIC CONTINENTAL CORP COM 69412V108 6,659 485,024 SH   SOLE   477,754 0 7,270
PARAGON SHIPPING INC CL A NEW 69913R408 477 80,683 SH   SOLE   80,683 0 0
PARK STERLING CORP COM 70086Y105 8,282 1,256,802 SH   SOLE   1,241,352 0 15,450
PBF ENERGY INC CL A 69318G106 31,320 1,175,223 SH   SOLE   783,925 0 391,298
PENN WEST PETE LTD NEW COM 707887105 33,976 3,481,117 SH   SOLE   1,472,630 0 2,008,487
PENNEY J C INC COM 708160106 2,579 285,000 SH   SOLE   285,000 0 0
PEOPLES FINL CORP MISS COM 71103B102 4,566 334,288 SH   SOLE   329,217 0 5,071
PEOPLES UNITED FINANCIAL INC COM 712704105 29,995 1,977,247 SH   SOLE   828,560 0 1,148,687
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 636 40,650 SH   SOLE   40,650 0 0
PG&E CORP COM 69331C108 50,668 1,055,143 SH   SOLE   437,400 0 617,743
PHILIP MORRIS INTL INC COM 718172109 63,522 753,436 SH   SOLE   324,556 0 428,880
PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 774 11,480 SH   SOLE   11,480 0 0
PIEDMONT NAT GAS INC COM 720186105 12,827 342,875 SH   SOLE   223,396 0 119,479
PINNACLE FOODS INC DEL COM 72348P104 4,759 144,653 SH   SOLE   144,653 0 0
PLUM CREEK TIMBER CO INC COM 729251108 53,828 1,193,525 SH   SOLE   490,800 0 702,725
PLY GEM HLDGS INC COM 72941W100 646 63,982 SH   SOLE   63,982 0 0
PNC FINL SVCS GROUP INC COM 693475105 53,550 601,346 SH   SOLE   272,363 0 328,983
PRECISION DRILLING CORP COM 2010 74022D308 708 50,000 SH   SOLE   50,000 0 0
PRICE T ROWE GROUP INC COM 74144T108 65,460 775,500 SH   SOLE   316,200 0 459,300
PROASSURANCE CORP COM 74267C106 36,088 812,803 SH   SOLE   534,407 0 278,396
PRUDENTIAL FINL INC COM 744320102 83,756 943,515 SH   SOLE   386,050 0 557,465
PSYCHEMEDICS CORP COM NEW 744375205 1,341 94,729 SH   SOLE   93,315 0 1,414
QUALCOMM INC COM 747525103 87,117 1,099,963 SH   SOLE   447,400 0 652,563
RAIT FINANCIAL TRUST COM NEW 749227609 5,038 609,220 SH   SOLE   609,220 0 0
RALPH LAUREN CORP CL A 751212101 5,704 35,500 SH   SOLE   35,500 0 0
RCS CAP CORP COM CL A 74937W102 6,511 306,700 SH   SOLE   306,700 0 0
REGAL BELOIT CORP COM 758750103 46,949 597,619 SH   SOLE   391,461 0 206,158
REGAL ENTMT GROUP CL A 758766109 49,898 2,364,854 SH   SOLE   974,250 0 1,390,604
REPUBLIC SVCS INC COM 760759100 57,117 1,504,270 SH   SOLE   621,370 0 882,900
RESOURCES CONNECTION INC COM 76122q105 34,023 2,595,183 SH   SOLE   1,875,963 0 719,220
REXFORD INDL RLTY INC COM 76169C100 7,621 535,165 SH   SOLE   527,115 0 8,050
RICKS CABARET INTL INC COM NEW 765641303 882 86,394 SH   SOLE   86,394 0 0
RING ENERGY INC COM 76680V108 1,264 72,456 SH   SOLE   72,456 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 38,887 472,106 SH   SOLE   158,600 0 313,506
SEARS HOMETOWN & OUTLET STOR COM 812362101 1,526 71,055 SH   SOLE   71,055 0 0
SI FINL GROUP INC MD COM 78425V104 8,269 718,390 SH   SOLE   707,600 0 10,790
SIERRA BANCORP COM 82620P102 5,730 362,688 SH   SOLE   358,288 0 4,400
SIMPLICITY BANCORP COM 828867101 4,939 283,041 SH   SOLE   278,791 0 4,250
SIMPSON MANUFACTURING CO INC COM 829073105 33,992 934,876 SH   SOLE   633,564 0 301,312
SJW CORP COM 784305104 5,537 203,572 SH   SOLE   200,512 0 3,060
SK TELECOM LTD SPONSORED ADR 78440P108 550 21,200 SH   SOLE   21,200 0 0
SNYDERS-LANCE INC COM 833551104 36,674 1,386,024 SH   SOLE   930,201 0 455,823
SONY CORP ADR NEW 835699307 3,406 203,130 SH   SOLE   203,130 0 0
SOUTHERN COPPER CORP COM 84265V105 3,343 110,090 SH   SOLE   110,090 0 0
SPARTANNASH CO COM 847215100 8,222 391,341 SH   SOLE   385,471 0 5,870
STAGE STORES INC COM NEW 85254C305 28,214 1,509,596 SH   SOLE   1,110,665 0 398,931
STANDARD PAC CORP NEW COM 85375C101 7,620 885,989 SH   SOLE   885,989 0 0
STANLEY BLACK & DECKER INC COM 854502101 52,306 595,600 SH   SOLE   246,200 0 349,400
STEEL DYNAMICS INC COM 858119100 51,992 2,896,480 SH   SOLE   1,193,020 0 1,703,460
STONECASTLE FINL CORP COM 861780104 6,194 244,062 SH   SOLE   240,402 0 3,660
SUNTRUST BKS INC COM 867914103 65,264 1,629,147 SH   SOLE   661,968 0 967,179
SUSQUEHANNA BANCSHARES INC P COM 869099101 30,393 2,878,108 SH   SOLE   1,921,228 0 956,880
SYMANTEC CORP COM 871503108 75,089 3,279,010 SH   SOLE   1,331,049 0 1,947,961
SYNERGY RES CORP COM 87164P103 5,243 395,690 SH   SOLE   395,690 0 0
SYNGENTA AG SPONSORED ADR 87160A100 40,245 538,039 SH   SOLE   234,400 0 303,639
SYNOVUS FINL CORP COM NEW 87161C501 11,385 467,000 SH   SOLE   467,000 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 788 36,860 SH   SOLE   36,860 0 0
TECHNE CORP COM 878377100 44,280 478,336 SH   SOLE   323,314 0 155,022
TESSERA TECHNOLOGIES INC COM 88164L100 41,876 1,896,538 SH   SOLE   1,284,117 0 612,421
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 45,161 861,531 SH   SOLE   418,045 0 443,486
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 2,401 44,500 SH   SOLE   44,500 0 0
TEXAS PAC LD TR SUB CTF PROP I T 882610108 3,446 21,524 SH   SOLE   21,524 0 0
TGC INDS INC COM NEW 872417308 7,932 1,455,341 SH   SOLE   1,437,485 0 17,856
TIDEWATER INC COM 886423102 135,943 2,421,069 SH   SOLE   1,262,775 0 1,158,294
TRANSOCEAN LTD REG SHS h8817h100 72,427 1,608,422 SH   SOLE   716,670 0 891,752
TRAVELCENTERS OF AMERICA LLC COM 894174101 12,395 1,395,814 SH   SOLE   1,395,814 0 0
TRICO BANCSHARES COM 896095106 9,019 389,744 SH   SOLE   383,909 0 5,835
TRONOX LTD SHS CL A Q9235V101 47,254 1,756,650 SH   SOLE   741,550 0 1,015,100
TSAKOS ENERGY NAVIGATION LTD SHS G9108L108 18,337 2,740,956 SH   SOLE   2,249,948 0 491,008
UNITED CMNTY BANCORP IND COM 90984R101 4,483 381,207 SH   SOLE   375,497 0 5,710
UNITED FINL BANCORP INC NEW COM 910304104 14,572 1,075,397 SH   SOLE   1,062,002 0 13,395
UNITED PARCEL SERVICE INC CL B 911312106 55,395 539,600 SH   SOLE   225,550 0 314,050
UNITED STATES OIL FUND LP UNITS 91232N108 117,907 3,032,600 SH Put SOLE   3,032,600 0 0
UNITIL CORP COM 913259107 8,883 262,570 SH   SOLE   259,450 0 3,120
UNIVERSAL CORP VA COM 913456109 36,269 655,265 SH   SOLE   406,996 0 248,269
UNIVERSAL TRUCKLOAD SVCS INC COM 91388P105 16,943 668,119 SH   SOLE   659,809 0 8,310
UNIVEST CORP PA COM 915271100 5,563 268,750 SH   SOLE   264,700 0 4,050
URS CORP NEW COM 903236107 86,442 1,885,320 SH   SOLE   879,535 0 1,005,785
US BANCORP DEL COM NEW 902973304 50,216 1,159,187 SH   SOLE   471,050 0 688,137
VALE S A ADR 91912E105 5,150 389,230 SH   SOLE   336,630 0 52,600
VALLEY NATL BANCORP COM 919794107 23,389 2,360,180 SH   SOLE   970,526 0 1,389,654
VIAD CORP COM NEW 92552R406 8,179 343,080 SH   SOLE   337,920 0 5,160
VISTEON CORP COM NEW 92839u206 10,477 108,000 SH   SOLE   108,000 0 0
WABASH NATL CORP COM 929566107 3,278 230,000 SH   SOLE   230,000 0 0
WAL-MART STORES INC COM 931142103 87,931 1,171,316 SH   SOLE   484,610 0 686,706
WASHINGTON FED INC COM 938824109 30,842 1,375,047 SH   SOLE   928,875 0 446,172
WAUSAU PAPER CORP COM 943315101 14,462 1,336,622 SH   SOLE   1,318,732 0 17,890
WESTAMERICA BANCORPORATION COM 957090103 42,303 809,160 SH   SOLE   549,075 0 260,085
WEYCO GROUP INC COM 962149100 4,562 166,452 SH   SOLE   163,952 0 2,500
XILINX INC COM 983919101 52,348 1,106,485 SH   SOLE   459,385 0 647,100
YORK WTR CO COM 987184108 2,018 96,921 SH   SOLE   95,461 0 1,460
YRC WORLDWIDE INC COM PAR $.01 984249607 21,856 777,513 SH   SOLE   777,513 0 0
ZIONS BANCORPORATION COM 989701107 4,541 154,100 SH   SOLE   154,100 0 0