0000950159-11-000550.txt : 20110815
0000950159-11-000550.hdr.sgml : 20110815
20110815170546
ACCESSION NUMBER: 0000950159-11-000550
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110630
FILED AS OF DATE: 20110815
DATE AS OF CHANGE: 20110815
EFFECTIVENESS DATE: 20110815
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: DREMAN VALUE MANAGEMENT L L C
CENTRAL INDEX KEY: 0001055282
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-06700
FILM NUMBER: 111037568
BUSINESS ADDRESS:
STREET 1: 10 EXCHANGE PLACE
CITY: JERSEY CITY
STATE: NJ
ZIP: 07203
BUSINESS PHONE: 2017932000
MAIL ADDRESS:
STREET 1: 10 EXCHANGE PLACE
CITY: JERSEY CITY
STATE: NJ
ZIP: 07203
13F-HR
1
dreman13f.txt
DREMAN VALUE MANAGEMENT, L.L.C. FORM 13F-HR
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2011
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Dreman Value Management, L.L.C.
Address: 777 South Flagler Dr. Suite 800-West Tower
West Palm Beach, FL 33401
Form 13F File Number: 28-6700
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Yvonne I. Pytlik
Title: Chief Compliance Officer
Phone: (201) 793-2046
Signature, Place, and Date of Signing:
/s/ Yvonne I. Pytlik Jersey City, New Jersey August 15, 2011
----------------------- ----------------------- ---------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 2
Form 13F Information Table Entry Total: 277
Form 13F Information Table Value Total: 5,227,311
in thousands
List of Other Included Managers:
Deutsche Bank
American Beacon Advisors
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report. Not Applicable
Deutsche Bank - Form 13F file # 28-10103
American Beacon Advisors - Form 13F file # 28-14511
DREMAN VALUE MANAGEMENT, LLC
FORM 13F
2QTR 2011
VOTING AUTHORITY
TITLE SOLE SHARED NONE
OF VALUE SHARES/ SHARES/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT SH/PRN CALL DISCRETION MANAGERS
------------------------------ ----- --------- -------- ------- --- ---- ------- -------- ------ ------ -------
3M Company COM 88579Y101 1,558 16,431 SH SOLE 16,431 - -
ABB LTD SPON ADR COM 000375204 3,273 126,138 SH SOLE 21,043 - 105,095
ABBOTT LABORATORIES COMMON STO COM 002824100 326 6,196 SH SOLE 6,196 - -
AETNA INC NEW COM 00817y108 20,482 464,548 SH SOLE 109,865 72,706 281,977
AGL RESOURCES INC COMMON STOCK COM 001204106 3,955 97,150 SH SOLE 2,275 - 94,875
AGRIUM INC COMMON STOCK NPV COM 008916108 6,366 72,537 SH SOLE 6,095 331 66,111
AIRCASTLE LTD COM G0129k104 41,661 3,275,205 SH SOLE 465,109 49,239 2,760,857
ALERE INC COM 01449J105 41,901 1,144,208 SH SOLE 151,304 15,242 977,662
ALLETE INC NEW COM 018522300 41,959 1,022,384 SH SOLE 146,463 15,281 860,640
ALLIANT TECHSYSTEMS INC COM 018804104 39,982 560,523 SH SOLE 78,419 7,174 474,930
ALLIED WORLD ASSUR NEW F COM H01531104 39,220 681,135 SH SOLE 93,295 9,768 578,072
ALLSTATE CORPORATION COM 020002101 17,674 578,913 SH SOLE 62,562 86,898 429,453
ALTRIA GROUP INC COM 02209s103 33,423 1,265,538 SH SOLE 367,168 183,731 714,639
AMDOCS LTD COMMON STOCK GBP.00 COM G02602103 3,917 128,900 SH SOLE 3,000 - 125,900
AMEDISYS INC COM 023436108 35,698 1,340,527 SH SOLE 179,086 18,104 1,143,337
AMEREN CORP COM 023608102 7,453 258,420 SH SOLE 14,913 1,067 242,440
AMERICAN EXPRESS COMPANY COM 025816109 20,242 391,533 SH SOLE 102,549 59,414 229,570
AMERIPRISE FINANCIAL INC COMMO COM 03076C106 3,094 53,646 SH SOLE 303 483 52,860
AMERON INTERNATIONAL CP COM 030710107 17,502 266,481 SH SOLE 38,714 1,857 225,910
AMN ELEC POWER CO COM 025537101 3,773 100,133 SH SOLE 2,861 852 96,420
ANADARKO PETROLEUM CORP COM 032511107 51,826 675,170 SH SOLE 155,397 106,017 413,756
ANWORTH MTG ASSET CORP REIT COM 037347101 35,193 4,686,105 SH SOLE 676,499 65,376 3,944,230
APACHE CORP COM 037411105 43,178 349,934 SH SOLE 81,335 54,822 213,777
APOLLO INVESTMENT CORP COM 03761U106 40,410 3,957,851 SH SOLE 490,940 52,159 3,414,752
ARCH COAL INC COMMON STOCK USD COM 039380100 5,195 194,843 SH SOLE 2,890 833 191,120
ARGO GROUP INTL HLDGS F COM G0464B107 3,189 107,313 SH SOLE 2,500 - 104,813
ARRIS GROUP INC COMMON STOCK U COM 04269Q100 37,205 3,204,546 SH SOLE 421,997 41,673 2,740,876
ARROW ELECTRONICS INC COMMON S COM 042735100 7,005 168,792 SH SOLE 2,395 752 165,645
ASPEN INSURANCE HOLDINGF COM G05384105 32,911 1,279,095 SH SOLE 167,568 17,562 1,093,965
ASTRAZENECA PLC ADR F SPONSORE COM 046353108 23,243 464,211 SH SOLE 81,909 66,306 315,996
ATWOOD OCEANICS INC COM 050095108 48,139 1,090,848 SH SOLE 144,628 14,404 931,816
AXIS CAPITAL HOLDINGS LTD COMM COM G0692U109 6,011 194,157 SH SOLE 2,766 821 190,570
Aarons Inc COM 002535300 34,524 1,221,646 SH SOLE 177,898 8,599 1,035,149
Aegon Nv COM 007924103 94 13,864 SH SOLE 13,864 - -
American Axle & Mfg Hldgs COM 024061103 33,219 2,919,081 SH SOLE 418,573 42,283 2,458,225
Amkor Technology Inc. COM 031652100 32,264 5,229,191 SH SOLE 764,398 75,052 4,389,741
Ascena Retail Group, Inc. COM 04351g101 28,917 849,242 SH SOLE 121,931 15,407 711,904
Associated Banc Corp COM 045487105 41,474 2,983,760 SH SOLE 397,647 39,733 2,546,380
AuRico Gold Inc COM 05155c105 49,996 4,549,257 SH SOLE 670,027 67,917 3,811,313
BANCO SANT CTL HISP ADR COM 05964H105 3,702 321,616 SH SOLE 58,692 - 262,924
BANCORPSOUTH INC COM 059692103 30,843 2,485,328 SH SOLE 353,227 36,000 2,096,101
BANK OF AMERICA CORP COM 060505104 23,705 2,162,837 SH SOLE 515,962 327,907 1,318,968
BANK OF HAWAII CORP COM 062540109 42,436 912,214 SH SOLE 121,031 11,963 779,220
BARNES GROUP INC COM 067806109 44,003 1,773,590 SH SOLE 258,242 25,006 1,490,342
BARRICK GOLD CORPORATION COM 067901108 2,641 58,313 SH SOLE 9,539 - 48,774
BEST BUY CO INC COM 086516101 23,962 762,880 SH SOLE 153,065 105,147 504,668
BHP BILLITON LTD ADR F SPONSOR COM 088606108 37,861 400,098 SH SOLE 103,774 55,251 241,073
BIG LOTS INC COMMON STOCK USD. COM 089302103 5,831 175,904 SH SOLE 2,645 730 172,529
BIOGEN IDEC INC COM 09062x103 2,229 20,848 SH SOLE 120 188 20,540
BOK FINANCIAL CORPORATION COMM COM 05561Q201 3,897 71,150 SH SOLE 1,650 - 69,500
BP PLC ADR F SPONSORED ADR 1 A COM 055622104 30,083 679,218 SH SOLE 128,755 95,014 455,449
BRINKER INTL INC COM 109641100 42,836 1,751,252 SH SOLE 234,312 22,906 1,494,034
BRINKS CO COM 109696104 44,593 1,494,892 SH SOLE 201,091 20,256 1,273,545
Banco Bilbao Vizcaya - ADR COM 05946K101 3,460 294,752 SH SOLE 55,327 - 239,425
Barclays PLC- ADR COM 06738E204 3,034 184,652 SH SOLE 29,872 - 154,780
Brandywine Rlty Tr Sh Ben Int COM 105368203 37,706 3,253,343 SH SOLE 467,207 42,261 2,743,875
Briggs & Stratton COM 109043109 36,506 1,838,172 SH SOLE 275,444 27,667 1,535,061
British American Tobacco - Spo COM 110448107 3,549 40,329 SH SOLE 6,640 - 33,689
C A C I INC CL A COM 127190304 41,682 660,777 SH SOLE 95,220 9,278 556,279
C B L & ASSOC PROPERTIES REIT COM 124830100 42,680 2,354,105 SH SOLE 329,110 29,300 1,995,695
CAL DIVE INTERNATIONAL COM 12802T101 40,357 6,748,641 SH SOLE 903,598 93,213 5,751,830
CARNIVAL CORP NEW F PAIRED STK COM 143658300 12,065 320,620 SH SOLE 86,905 47,725 185,990
CARNIVAL PLC-ADR COM 14365C103 2,662 68,528 SH SOLE 11,003 - 57,525
CENTRAL EURO DISTRIBUTN COM 153435102 19,017 1,697,948 SH SOLE 243,420 23,962 1,430,566
CEPHALON INC COMMON STOCK USD. COM 156708109 2,339 29,275 SH SOLE 675 - 28,600
CHARLES RIVER LABORATORIES COM COM 159864107 43,699 1,075,002 SH SOLE 143,400 14,322 917,280
CHESAPEAKE ENERGY CORP COM 165167107 30,985 1,043,611 SH SOLE 306,329 132,342 604,940
CHEVRON CORP COM 166764100 219 2,134 SH SOLE 2,134 - -
CIGNA CORP COMMON STOCK USD.25 COM 125509109 4,268 82,996 SH SOLE 2,731 695 79,570
CITIGROUP INC COM 172967424 20,359 488,937 SH SOLE 60,193 88,258 340,486
COEUR D ALENE MINES CORP COMMO COM 192108504 38,347 1,580,656 SH SOLE 214,019 22,066 1,344,571
COMERICA INC COM COM 200340107 3,499 101,206 SH SOLE 8,003 813 92,390
COMMONWEALTH REIT COM 203233101 41,852 1,619,646 SH SOLE 208,998 20,842 1,389,806
COMPUTER SCIENCES CORP COMMON COM 205363104 2,654 69,919 SH SOLE 390 609 68,920
CONOCOPHILLIPS COM 20825c104 35,341 470,029 SH SOLE 128,312 69,842 271,875
CONSTELLATION BRANDS INC A COM COM 21036P108 3,422 164,375 SH SOLE 3,850 - 160,525
CONTANGO OIL & GAS DE COM 21075N204 39,995 684,379 SH SOLE 98,645 10,309 575,425
CORN PRODUCTS INTL INC COM 219023108 39,277 710,509 SH SOLE 103,354 10,595 596,560
CRANE CO COMMON STOCK USD1.0 COM 224399105 3,769 76,275 SH SOLE 1,775 - 74,500
Chicago Bridge & Iron COM 167250109 3,333 85,678 SH SOLE 14,018 - 71,660
China Digital TV Holding-ADR COM 16938g107 2,219 435,134 SH SOLE 71,532 - 363,602
China Mobile LTD Spn ADR COM 16941m109 3,687 78,813 SH SOLE 14,387 - 64,426
Chiquita Brands Intl COM 170032809 32,513 2,497,180 SH SOLE 349,549 37,632 2,109,999
Cisco Systems Inc. COM 17275R102 13,433 860,544 SH SOLE 184,380 138,764 537,400
Collective Brands Inc. COM 19421w100 26,972 1,836,077 SH SOLE 256,998 27,079 1,552,000
Companhia D. Snmnto Bsco COM 20441a102 2,307 38,668 SH SOLE 6,242 - 32,426
Cooper Tire And Rubber COM 216831107 34,823 1,759,621 SH SOLE 233,823 23,324 1,502,474
Covidien Plc COM g2554f113 3,549 66,667 SH SOLE 11,076 - 55,591
Curtiss-Wright Corp. COM 231561101 35,134 1,085,397 SH SOLE 154,997 15,831 914,569
D S T SYSTEMS INC COM 233326107 40,140 760,233 SH SOLE 103,747 9,841 646,645
DEAN FOODS CO COMMON STOCK USD COM 242370104 3,089 251,721 SH SOLE 1,440 2,291 247,990
DEVON ENERGY CP NEW COM 25179m103 43,875 556,714 SH SOLE 122,570 88,617 345,527
DIANA SHIPPING INC F COM Y2066G104 34,711 3,167,071 SH SOLE 455,691 46,040 2,665,340
DISCOVER FINANCIAL SERVICES CO COM 254709108 3,699 138,276 SH SOLE 792 1,252 136,232
DPL Inc. COM 233293109 3,779 125,312 SH SOLE 720 1,082 123,510
DUKE REALTY CORP REIT USD.01 COM 264411505 3,563 254,353 SH SOLE 1,425 2,414 250,514
Delhaize Le Lion S A Adr COM 29759w101 3,171 42,079 SH SOLE 6,762 - 35,317
Deutsche Bank AG REG COM D18190898 625 10,547 SH SOLE 10,547 - -
Diageo Plc Adr COM 25243Q205 3,554 43,416 SH SOLE 7,011 - 36,405
Donnelley (R R) & Sons Co COM 257867101 7,069 360,459 SH SOLE 5,205 1,614 353,640
Du Pont (E I) De Nemours COM 263534109 333 6,155 SH SOLE 6,155 - -
EARTHLINK INC COM 270321102 33,695 4,378,881 SH SOLE 597,663 61,168 3,720,050
EATON CORPORATION COM 278058102 35,183 683,837 SH SOLE 150,406 109,275 424,156
ELI LILLY & CO COM 532457108 1,226 32,656 SH SOLE 32,656 - -
EMCOR GROUP INC COM 29084Q100 39,221 1,338,127 SH SOLE 181,973 18,104 1,138,050
EMERSON ELECTRIC CO COM 291011104 17,530 311,643 SH SOLE 61,195 51,270 199,178
ENDO PHARMACEUT HLDGS INC COMM COM 29264F205 3,607 89,800 SH SOLE 2,100 - 87,700
ENERGIZER HOLDINGS INC COMMON COM 29266R108 6,886 95,158 SH SOLE 1,470 373 93,315
ENERSYS COM 29275Y102 40,755 1,184,058 SH SOLE 169,305 17,233 997,520
ENSCO PLC SPON ADR ADR USD.1 COM 29358Q109 6,114 114,704 SH SOLE 9,159 560 104,985
ESTERLINE TECH CORP COM 297425100 41,442 542,435 SH SOLE 77,790 7,870 456,775
EXELON CORP COMMON STOCK NPV COM 30161N101 411 9,601 SH SOLE 9,601 - -
East West Bancorp Inc. COM 27579R104 3,936 194,750 SH SOLE 4,550 - 190,200
Encana Corp COM 292505104 1,292 41,965 SH SOLE 41,965 - -
Eni S P A Sponsored ADR COM 26874r108 3,376 71,005 SH SOLE 13,388 - 57,617
Everest Reins Hldgs COM g3223r108 3,366 41,175 SH SOLE 950 - 40,225
FEDEX CORPORATION COM 31428x106 19,474 205,316 SH SOLE 45,653 32,717 126,946
FIFTH THIRD BANCORP COM 316773100 5,567 436,637 SH SOLE 171,783 2,314 262,540
FIRSTMERIT CORP COM 337915102 31,095 1,883,374 SH SOLE 275,599 27,371 1,580,404
FISERV INC COMMON STOCK USD.01 COM 337738108 3,504 55,940 SH SOLE 320 480 55,140
FOREST LABORATORIES INC COMMON COM 345838106 3,756 95,475 SH SOLE 3,012 813 91,650
FOREST OIL CORP NEW COM 346091705 2,811 105,250 SH SOLE 2,450 - 102,800
FULTON FINANCIAL CORP COM 360271100 38,079 3,555,439 SH SOLE 522,874 54,010 2,978,555
GENERAL CABLE CP DE NEW COM 369300108 40,598 953,442 SH SOLE 126,278 13,222 813,942
GENERAL ELECTRIC COMPANY COM 369604103 29,106 1,543,277 SH SOLE 366,097 239,580 937,600
GEO GROUP INC COM 36159R103 33,370 1,448,995 SH SOLE 224,436 22,440 1,202,119
GOLDMAN SACHS GROUP INC COM 38141g104 16,275 122,286 SH SOLE 15,765 21,876 84,645
Gap Inc. Co. COM 364760108 3,006 166,068 SH SOLE 17,434 1,404 147,230
Glaxosmitkhline Plc-Sp Adr COM 37733W105 3,772 87,932 SH SOLE 14,266 - 73,666
H.B. Fuller Co. COM 359694106 11,433 468,199 SH SOLE 67,007 9,971 391,221
HANESBRANDS INC COM 410345102 27,861 975,873 SH SOLE 123,287 12,161 840,425
HANOVER INSURANCE GROUP COM 410867105 30,004 795,657 SH SOLE 109,418 11,084 675,155
HARRIS CORP COMMON STOCK USD1. COM 413875105 3,081 68,377 SH SOLE 400 627 67,350
HARTFORD FINL SVCS GRP COM 416515104 23,456 889,489 SH SOLE 168,245 123,103 598,141
HEALTHSPRING INC COM 42224N101 46,843 1,015,901 SH SOLE 135,929 13,572 866,400
HELEN OF TROY LTD F COM G4388N106 39,630 1,147,684 SH SOLE 167,055 16,511 964,118
HOSPITALITY PPTYS TRUST BENEFI COM 44106M102 48,232 1,988,942 SH SOLE 246,395 24,732 1,717,815
HSBC Hldgs PLC Spons-ADR COM 404280406 3,402 68,554 SH SOLE 11,165 - 57,389
HUBBELL INC CL B PAR .01 COM 443510201 3,819 58,800 SH SOLE 1,375 - 57,425
HUDSON CITY BANCORP INC COMMON COM 443683107 2,643 322,650 SH SOLE 1,805 2,680 318,165
Hancock Hldg Co Com COM 410120109 27,166 876,875 SH SOLE 125,297 12,578 739,000
IAMgold Corporation COM 450913108 3,044 162,275 SH SOLE 3,800 - 158,475
IDACORP INCORPORATED COM 451107106 37,186 941,426 SH SOLE 132,550 13,485 795,391
ING GP NV SPSD ADR COM 456837103 3,726 301,182 SH SOLE 49,282 - 251,900
INTL SPEEDWAY CL A COM 460335201 40,470 1,424,505 SH SOLE 181,836 17,594 1,225,075
IShares Russell 2000 Value COM 464287630 335 4,565 SH SOLE 4,565 - -
Intel Corp COM 458140100 20,264 914,434 SH SOLE 173,046 151,102 590,286
JABIL CIRCUIT INC COM 466313103 3,422 169,425 SH SOLE 3,950 - 165,475
JAKKS PACIFIC INC COM 47012E106 32,049 1,740,868 SH SOLE 251,938 25,685 1,463,245
JAMES RIVER COAL CO COM 470355207 36,008 1,729,499 SH SOLE 251,026 25,482 1,452,991
JARDEN CORP COM 471109108 38,898 1,127,154 SH SOLE 171,063 17,116 938,975
JDA Software Group Inc. COM 46612K108 41,095 1,330,380 SH SOLE 189,654 19,156 1,121,570
JPMORGAN CHASE & CO COM 46625h100 23,407 571,733 SH SOLE 165,346 83,576 322,811
KB Financial Group Inc-ADR COM 48241a105 2,935 61,400 SH SOLE 9,942 - 51,458
KIMBERLY CLARK COM 494368103 333 4,998 SH SOLE 4,998 - -
KINETIC CONCEPTS INC COMMON ST COM 49460W208 3,681 63,865 SH SOLE 365 550 62,950
Keycorp COM 493267108 1,323 158,865 SH SOLE 158,865 - -
L 3 COMMUNICATIONS HLDGS INC C COM 502424104 4,044 46,243 SH SOLE 3,954 389 41,900
LEXMARK INTL INC CL A CLASS A COM 529771107 27,075 925,335 SH SOLE 128,429 13,539 783,367
LIFEPOINT HOSPITALS INC COM 53219L109 41,261 1,055,816 SH SOLE 149,925 15,521 890,370
LIFETIME FITNESS COM 53217R207 32,660 818,345 SH SOLE 116,623 13,691 688,031
LINCOLN NATIONAL CORP COMMON S COM 534187109 3,254 114,220 SH SOLE 650 1,020 112,550
LORILLARD INC COMMON STOCK USD COM 544147101 3,619 33,240 SH SOLE 190 300 32,750
LOWES COMPANIES INC COM 548661107 18,344 786,951 SH SOLE 203,119 119,683 464,149
LUBRIZOL CORP COMMON STOCK NPV COM 549271104 4,417 32,900 SH SOLE - - 32,900
MACK CALI REALTY CORP REIT USD COM 554489104 3,372 102,380 SH SOLE 590 - 101,790
MARATHON OIL CORP COM 565849106 371 7,048 SH SOLE 7,048 - -
MATTEL INC COM COM 577081102 7,288 265,122 SH SOLE 3,910 1,157 260,055
MCDERMOTT INTL INC COMMON STOC COM 580037109 5,983 302,018 SH SOLE 3,995 1,548 296,475
MEDICAL PROPERTIES TRUST REIT COM 58463J304 41,025 3,567,383 SH SOLE 467,639 47,457 3,052,287
MEDNAX INC COM 58502B106 38,611 534,846 SH SOLE 77,099 7,802 449,945
MEREDITH CORP COM 589433101 39,249 1,260,812 SH SOLE 169,504 16,708 1,074,600
METLIFE INC COMMON STOCK USD.0 COM 59156R108 398 9,083 SH SOLE 9,083 - -
MFA FINANCIAL INC REIT USD.01 COM 55272X102 3,391 421,825 SH SOLE 9,850 - 411,975
MICROSEMI CORPORATION COM 595137100 38,616 1,883,683 SH SOLE 244,768 24,880 1,614,035
MICROSOFT CORP COM 594918104 17,365 667,888 SH SOLE 125,900 110,247 431,741
MINEFINDERS CORP COM 602900102 22,357 1,718,418 SH SOLE 268,718 21,766 1,427,934
MKS Instrument Inc Com COM 55306N104 8,253 312,370 SH SOLE 43,826 13,873 254,671
MOLSON COOR BREW CO CL B COM 60871r209 3,227 72,125 SH SOLE 410 625 71,090
Mantech International Corp. - COM 564563104 3,895 87,675 SH SOLE 2,050 - 85,625
Mizuho Finl Group Inc. COM 60687Y109 75 22,827 SH SOLE 22,827 - -
N V ENERGY INC COM 67073Y106 37,783 2,461,455 SH SOLE 380,703 37,447 2,043,305
NASDAQ OMX GROUP/THE COMMON ST COM 631103108 3,249 128,419 SH SOLE 740 1,159 126,520
NASH-FINCH COMPANY COM 631158102 29,538 824,862 SH SOLE 125,953 12,462 686,447
NCR Corp COM 62886E108 47,976 2,539,778 SH SOLE 321,116 35,805 2,182,857
NEWMONT MINING CORP COM 651639106 8,345 154,629 SH SOLE 22,332 27,115 105,182
NEXEN INC COMMON STOCK NPV COM 65334H102 6,028 267,901 SH SOLE 22,245 1,228 244,428
NORFOLK SOUTHERN CORP COMMON S COM 655844108 3,290 43,914 SH SOLE 250 394 43,270
NORTHROP GRUMMAN CORP COM 666807102 20,790 299,786 SH SOLE 51,525 42,946 205,315
NUCOR CORP COMMON STOCK USD.4 COM 670346105 2,731 66,249 SH SOLE 370 599 65,280
Nippon Teleg Adr COM 654624105 3,703 153,136 SH SOLE 25,207 - 127,929
Nomura Hldg Inc Spons- ADR COM 65535H208 3,470 703,887 SH SOLE 115,863 - 588,024
O M GROUP INC COM 670872100 44,740 1,100,883 SH SOLE 157,269 16,514 927,100
OCCIDENTAL PETE CORP COM 674599105 19,975 191,990 SH SOLE 44,692 30,053 117,245
OMNICARE INC COMMON STOCK USD1 COM 681904108 3,643 114,225 SH SOLE 645 985 112,595
OWENS &MINOR INC HLDG CO COM 690732102 44,538 1,291,338 SH SOLE 173,266 16,873 1,101,199
OWENS ILLINOIS INC COMMON STOC COM 690768403 5,688 220,390 SH SOLE 3,225 970 216,195
Omega Healthcare Investors COM 681936100 37,596 1,789,425 SH SOLE 256,800 26,025 1,506,600
Oshkosh Truck Corp. COM 688239201 6,898 238,346 SH SOLE 3,740 956 233,650
PFIZER INCORPORATED COM 717081103 37,097 1,800,838 SH SOLE 367,527 293,047 1,140,264
PHILIP MORRIS INTL INC COM 718172109 21,956 328,835 SH SOLE 66,959 53,495 208,381
PITNEY BOWES INC COM 724479100 6,814 296,375 SH SOLE 16,959 1,176 278,240
PLANTRONICS INC COM 727493108 36,460 998,083 SH SOLE 147,038 15,145 835,900
PLATINUM UNDERWRITERS F COM G7127P100 25,256 759,806 SH SOLE 112,806 11,540 635,460
PMC SIERRA INC COM 69344F106 41,188 5,441,013 SH SOLE 724,328 71,960 4,644,725
PNC FINL SERVICES GP INC COM 693475105 26,840 450,267 SH SOLE 96,221 72,854 281,192
PPL CORPORATION COMMON STOCK U COM 69351T106 4,125 148,215 SH SOLE 15,849 1,151 131,215
PROTECTIVE LIFE CORP COM 743674103 34,964 1,511,634 SH SOLE 205,561 21,357 1,284,716
Pennsylvania Rl Est Tr Sh Ben COM 709102107 40,479 2,578,306 SH SOLE 386,229 38,597 2,153,480
Petroleo Brasileiro S/A COM 71654v408 3,336 98,521 SH SOLE 18,279 - 80,242
Portland General Electric COM 736508847 47,935 1,896,182 SH SOLE 249,239 24,982 1,621,961
Prosperity Bancshares Inc. COM 743606105 14,331 327,046 SH SOLE 48,920 9,696 268,430
Prudential PLC ADR COM 74435K204 3,290 142,231 SH SOLE 23,232 - 118,999
Qlogic Corp. COM 747277101 33,673 2,115,150 SH SOLE 301,645 30,777 1,782,728
RALCORP HOLDINGS INC COMMON ST COM 751028101 3,591 41,475 SH SOLE 975 - 40,500
RAYMOND JAMES FINL INC COM 754730109 3,443 107,100 SH SOLE 2,500 - 104,600
REGIS CORP MINN COM 758932107 2,948 192,425 SH SOLE 4,500 - 187,925
RELIANCE STEEL + ALUMINUM COMM COM 759509102 3,498 70,450 SH SOLE 1,650 - 68,800
ROYAL DUTCH SHELL PLC ADR ADR COM 780259206 21,696 305,023 SH SOLE 34,838 47,272 222,913
RYDER SYSTEM INC COM 783549108 38,380 675,111 SH SOLE 102,878 10,443 561,790
SCOTTS MIRACLE GRO CO COM 810186106 17,767 346,264 SH SOLE 49,884 5,120 291,260
SEASPAN CORP COM Y75638109 1,900 130,051 SH SOLE 28,967 - 101,084
SECTOR SPDR FINANCIAL COM 81369y605 339 22,070 SH SOLE 22,070 - -
SENIOR HOUSING PROP TRUST REIT COM 81721M109 3,486 148,921 SH SOLE 855 1,281 146,785
SK TELECOM ADR COM 78440P108 3,162 169,101 SH SOLE 31,312 - 137,789
SMITH-NPHW PLC SPADR NEW COM 83175M205 3,296 60,856 SH SOLE 9,994 - 50,862
SONIC CORP COM 835451105 36,163 3,401,982 SH SOLE 488,276 49,998 2,863,708
SPIRIT AEROSYSTEMS HOLD CL A C COM 848574109 3,089 140,425 SH SOLE 3,275 - 137,150
STAPLES INC COM 855030102 19,540 1,236,680 SH SOLE 289,656 160,977 786,047
STERIS CORP COM 859152100 35,349 1,010,536 SH SOLE 154,053 15,303 841,180
SUMITOMO MITSUI-SPONS ADR COM 86562M209 3,549 577,026 SH SOLE 94,984 - 482,042
SUNTRUST BANKS INC COM 867914103 9,671 374,849 SH SOLE 33,776 48,896 292,177
SUPERIOR ENERGY SERVICES COM 868157108 41,705 1,122,908 SH SOLE 151,296 14,952 956,660
SUPERVALU INC DEL COM COM 868536103 6,256 664,799 SH SOLE 30,285 2,769 631,745
SYMANTEC CORP COMMON STOCK USD COM 871503108 4,098 207,813 SH SOLE 19,856 1,626 186,331
SYNAPTICS INC COM 87157D109 17,540 681,435 SH SOLE 89,900 3,879 587,656
SYNOPSYS INC COMMON STOCK USD. COM 871607107 6,766 263,159 SH SOLE 4,002 1,040 258,117
Sanofi-ADR COM 80105N105 3,887 96,767 SH SOLE 16,109 - 80,658
Siemens AG ADR COM 826197501 3,512 25,534 SH SOLE 4,143 - 21,391
StatoilHydro ASA COM 85771p102 3,306 129,912 SH SOLE 21,264 - 108,648
TECO ENERGY INC COM 872375100 34,228 1,811,988 SH SOLE 298,214 29,639 1,484,135
TELEFLEX INCORPORATED COM 879369106 41,347 677,151 SH SOLE 90,541 9,040 577,570
TERADYNE INC COMMON STOCK USD. COM 880770102 2,906 196,350 SH SOLE 4,575 - 191,775
TESORO CORPORATION COM 881609101 37,553 1,639,161 SH SOLE 236,523 23,894 1,378,744
TEXTAINER GROUP HOLDINGS LTD C COM G8766E109 3,132 101,875 SH SOLE 2,375 - 99,500
THE JONES GROUP INC COM 48020T101 18,935 1,745,205 SH SOLE 213,844 20,939 1,510,422
THOMPSON CREEK METALS F COM 884768102 28,398 2,845,530 SH SOLE 427,203 42,607 2,375,720
TIDEWATER INC COMMON STOCK USD COM 886423102 3,183 59,150 SH SOLE 1,375 - 57,775
TRANSOCEAN LTD COM h8817h100 3,065 47,478 SH SOLE 6,332 376 40,770
TUTOR PERINI CORP COM 901109108 35,169 1,833,606 SH SOLE 246,094 23,756 1,563,756
Teva Pharmaceutical Industries COM 881624209 3,635 75,388 SH SOLE 12,135 - 63,253
Total SA ADR COM 89151E109 3,444 59,550 SH SOLE 10,884 - 48,666
U S BANCORP DEL NEW COM 902973304 15,946 625,082 SH SOLE 112,150 105,430 407,502
UBS AG COM h89231338 2,591 141,919 SH SOLE 5,161 - 136,758
UNILEVER PLC NEW ADR COM 904767704 3,533 109,066 SH SOLE 17,956 - 91,110
UNITED TECHNOLOGIES CORP COM 913017109 23,305 263,299 SH SOLE 63,098 40,858 159,343
UNITEDHEALTH GROUP INC COM 91324p102 29,758 576,929 SH SOLE 136,723 90,114 350,092
UNIVERSAL CORP VA COM 913456109 31,349 832,207 SH SOLE 115,180 11,399 705,628
URS CORP COMMON STOCK USD.01 COM 903236107 7,163 160,105 SH SOLE 2,380 665 157,060
Ultra Petroleum Corp COM 903914109 6,984 152,495 SH SOLE 2,260 667 149,568
VALERO ENERGY CORP NEW COM 91913y100 12,599 492,712 SH SOLE 89,861 57,690 345,161
VECTREN CORP COM 92240G101 36,422 1,307,311 SH SOLE 189,495 18,551 1,099,265
VODAFONE GROUP PLC SP ADR ADR COM 92857W209 3,094 115,790 SH SOLE 21,446 - 94,344
W & T OFFSHORE INC COM 92922P106 39,818 1,524,430 SH SOLE 221,229 21,506 1,281,695
WADDELL & REED FINL CL A COM 930059100 35,802 984,911 SH SOLE 141,426 14,522 828,963
WASHINGTON FEDERAL INC SEATTLE COM 938824109 36,788 2,239,102 SH SOLE 319,380 32,332 1,887,390
WEINGARTEN REALTY INVESTORS RE COM 948741103 3,849 152,975 SH SOLE 3,575 - 149,400
WELLS FARGO & CO NEW COM 949746101 30,576 1,089,653 SH SOLE 267,828 169,032 652,793
WESTERN UN CO COM 959802109 3,337 166,617 SH SOLE 887 1,490 164,240
WHIRLPOOL CORP COMMON STOCK US COM 963320106 7,212 88,690 SH SOLE 5,173 372 83,145
WOLVERINE WORLD WIDE INC COM 978097103 37,732 903,750 SH SOLE 132,752 13,321 757,677
Websense Inc. COM 947684106 4,926 189,663 SH SOLE 23,846 14,467 151,350
Wintrust Finl Corp Com COM 97650W108 28,174 875,499 SH SOLE 124,933 12,694 737,872
Worthington Industries Inc COM 981811102 44,528 1,927,615 SH SOLE 269,785 28,354 1,629,476
YAMANA GOLD INC COM 98462y100 6,485 557,598 SH SOLE 68,702 2,440 486,456
ZIMMER HOLDINGS INC COM 98956p102 24,261 383,870 SH SOLE 39,178 55,275 289,417
Zions Bancorp COM 989701107 3,675 153,075 SH SOLE 3,575 - 149,500