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
AAR Corp. COM 000361105 0 516,260 SH   SOLE   103,662 2,125 410,473
Aarons Inc COM 002535300 0 397,994 SH   SOLE   80,733 1,161 316,100
ABB LTD SPON ADR COM 000375204 0 252,451 SH   SOLE   21,896 75,735 154,820
ABM INDUSTRIES INC COM 000957100 0 645,107 SH   SOLE   128,045 1,877 515,185
AETNA INC NEW COM 00817y108 0 39,735 SH   SOLE   27,241 3,892 8,602
AFLAC INC COMMON STOCK USD.1 COM 001055102 0 47,184 SH   SOLE   33,331 4,349 9,504
Agilent Technologies Inc COM 00846U101 0 75,770 SH   SOLE   130 1,820 73,820
AGL RESOURCES INC COMMON STOCK COM 001204106 0 68,375 SH   SOLE   1,975 0 66,400
AGRIUM INC COMMON STOCK NPV COM 008916108 0 98,485 SH   SOLE   10,178 20,067 68,240
AIRCASTLE LTD COM G0129k104 0 1,832,560 SH   SOLE   378,297 5,212 1,449,051
ALLIANT TECHSYSTEMS INC COM 018804104 0 435,876 SH   SOLE   83,813 847 351,216
ALLIED WORLD ASSUR NEW F COM H01531104 0 304,410 SH   SOLE   59,659 883 243,868
ALLSTATE CORPORATION COM 020002101 0 121,611 SH   SOLE   37,514 6,369 77,728
ALMOST FAMILY INC COM 020409108 0 125,259 SH   SOLE   24,395 354 100,510
ALTRIA GROUP INC COM 02209s103 0 8,550 SH   SOLE   8,550 0 0
Amcol International Corp COM 02341W103 0 308,199 SH   SOLE   60,776 853 246,570
AMDOCS LTD COMMON STOCK GBP.00 COM G02602103 0 86,700 SH   SOLE   2,650 0 84,050
Amerco COM 023586100 0 18,375 SH   SOLE   575 0 17,800
AMEREN CORP COM 023608102 0 87,225 SH   SOLE   2,475 0 84,750
American Axle & Mfg Hldgs COM 024061103 0 1,951,256 SH   SOLE   434,042 6,436 1,510,778
AMERICAS CAR MART INC COM COM 03062T105 0 52,131 SH   SOLE   10,543 146 41,442
AMERIPRISE FINANCIAL INC COMMO COM 03076C106 0 46,144 SH   SOLE   79 1,115 44,950
AMN ELEC POWER CO COM 025537101 0 71,876 SH   SOLE   124 1,742 70,010
ANADARKO PETROLEUM CORP COM 032511107 0 36,115 SH   SOLE   25,542 3,298 7,275
APACHE CORP COM 037411105 0 3,643 SH   SOLE   3,643 0 0
Apple Computer COM 037833100 0 5,298 SH   SOLE   3,786 475 1,037
ARGO GROUP INTL HLDGS F COM G0464B107 0 84,406 SH   SOLE   2,502 0 81,904
ARRIS GROUP INC COMMON STOCK U COM 04270V106 0 1,675,078 SH   SOLE   315,635 5,356 1,354,087
ARROW ELECTRONICS INC COMMON S COM 042735100 0 143,879 SH   SOLE   3,677 1,682 138,520
Ashford Hospitality Trust COM 044103109 0 840,883 SH   SOLE   173,073 2,580 665,230
ASPEN INSURANCE HOLDINGF COM G05384105 0 630,873 SH   SOLE   127,187 1,856 501,830
Associated Banc Corp COM 045487105 0 2,552,913 SH   SOLE   478,037 6,116 2,068,760
ASSOCIATED ESTATE RLTY COM COM 045604105 0 442,215 SH   SOLE   89,381 1,367 351,467
ASTRAZENECA PLC ADR F SPONSORE COM 046353108 0 171,709 SH   SOLE   45,533 40,574 85,602
ATWOOD OCEANICS INC COM 050095108 0 609,843 SH   SOLE   104,407 1,319 504,117
AXIS CAPITAL HOLDINGS LTD COMM COM G0692U109 0 154,465 SH   SOLE   2,220 2,055 150,190
Banco Bilbao Vizcaya - ADR COM 05946K101 0 646,526 SH   SOLE   61,109 190,027 395,390
BANCO SANT SA ADR COM 05964H105 0 741,667 SH   SOLE   65,105 216,816 459,746
BANCORPSOUTH INC COM 059692103 0 1,593,203 SH   SOLE   317,010 4,616 1,271,577
BANK OF AMERICA CORP COM 060505104 0 180,897 SH   SOLE   123,906 17,793 39,198
BANK OF HAWAII CORP COM 062540109 0 62,425 SH   SOLE   1,875 0 60,550
Bank Of New York Mellon Corp. COM 064058100 0 80,486 SH   SOLE   55,327 7,761 17,398
Barclays PLC- ADR COM 06738E204 0 224,386 SH   SOLE   30,372 2,729 191,285
BARNES GROUP INC COM 067806109 0 536,362 SH   SOLE   107,748 1,602 427,012
Berry Petroleum Co. COM 085789105 0 424,468 SH   SOLE   81,843 960 341,665
BHP BILLITON LTD ADR F SPONSOR COM 088606108 0 116,121 SH   SOLE   27,048 28,999 60,074
Blackrock Inc COM 09247x101 0 8,608 SH   SOLE   5,939 834 1,835
BMC SOFTWARE INC COMMON STOCK COM 055921100 0 68,675 SH   SOLE   2,000 0 66,675
BOK FINANCIAL CORPORATION COMM COM 05561Q201 0 50,405 SH   SOLE   1,475 0 48,930
BP PLC ADR F SPONSORED ADR 1 A COM 055622104 0 202,876 SH   SOLE   55,787 47,981 99,108
Brady Corp WI CL A COM 104674106 0 422,767 SH   SOLE   84,267 1,152 337,348
Brandywine Rlty Tr Sh Ben Int COM 105368203 0 2,248,775 SH   SOLE   443,550 3,750 1,801,475
Briggs & Stratton COM 109043109 0 487,570 SH   SOLE   98,476 1,421 387,673
BRINKER INTL INC COM 109641100 0 797,605 SH   SOLE   146,524 2,036 649,045
BRINKS CO COM 109696104 0 1,057,867 SH   SOLE   195,590 2,042 860,235
Brocade Communications COM 111621306 0 4,619,427 SH   SOLE   915,057 12,415 3,691,955
C B L & ASSOC PROPERTIES REIT COM 124830100 0 1,246,039 SH   SOLE   209,052 1,625 1,035,362
CA INC COMMON STOCK USD.1 COM 12673P105 0 109,581 SH   SOLE   3,677 2,574 103,330
Cabot Corp. COM 127055101 0 651,472 SH   SOLE   129,958 1,890 519,624
Canon Inc- ADR COM 138006309 0 165,593 SH   SOLE   14,235 49,402 101,956
CapLease Inc COM 140288101 0 1,517,031 SH   SOLE   298,604 4,743 1,213,684
Cardinal Health Inc. COM 14149Y108 0 82,416 SH   SOLE   4,282 1,844 76,290
Carlisle Cos Inc COM 142339100 0 370,603 SH   SOLE   68,327 917 301,359
CARNIVAL PLC-ADR COM 14365C103 0 165,770 SH   SOLE   14,503 50,087 101,180
CATERPILLAR INC COMMON STOCK U COM 149123101 0 28,347 SH   SOLE   20,070 2,512 5,765
CBIZ INC COM 124805102 0 417,017 SH   SOLE   81,521 1,226 334,270
CEC ENTERTAINMENT INC COM 125137109 0 214,458 SH   SOLE   42,323 742 171,393
CELESTICA SUB VTG SHS COM 15101Q108 0 854,647 SH   SOLE   163,735 4,022 686,890
CHARLES RIVER LABORATORIES COM COM 159864107 0 746,022 SH   SOLE   135,752 1,647 608,623
Chemical Financial Corp. COM 163731102 0 301,171 SH   SOLE   57,292 528 243,351
CHESAPEAKE ENERGY CORP COM 165167107 0 219,497 SH   SOLE   64,220 11,467 143,810
CHEVRON CORP COM 166764100 0 2,795 SH   SOLE   2,795 0 0
China Mobile LTD Spn ADR COM 16941m109 0 110,534 SH   SOLE   10,361 32,986 67,187
CIA Vale Do Rio Doce - ADR COM 91912e105 0 381,511 SH   SOLE   32,238 100,878 248,395
CIGNA CORP COMMON STOCK USD.25 COM 125509109 0 56,862 SH   SOLE   2,886 1,306 52,670
Cisco Systems Inc. COM 17275R102 0 119,207 SH   SOLE   85,829 10,363 23,015
CITIGROUP INC COM 172967424 0 53,737 SH   SOLE   38,167 4,850 10,720
City National Corp. COM 178566105 0 212,263 SH   SOLE   42,189 419 169,655
CNOOC LTD ADR COM 126132109 0 32,070 SH   SOLE   2,874 9,510 19,686
COEUR D ALENE MINES CORP COMMO COM 192108504 0 1,100,003 SH   SOLE   199,757 2,459 897,787
COGNIZANT TECH SOLUTIONS A COM COM 192446102 0 32,359 SH   SOLE   20,478 3,670 8,211
COMERICA INC COM COM 200340107 0 95,945 SH   SOLE   8,034 2,061 85,850
COMPUTER SCIENCES CORP COMMON COM 205363104 0 58,311 SH   SOLE   99 1,392 56,820
CONOCOPHILLIPS COM 20825c104 0 54,212 SH   SOLE   38,192 5,016 11,004
Cooper Tire And Rubber COM 216831107 0 1,130,606 SH   SOLE   217,217 2,943 910,446
CORNING INC COMMON STOCK USD.5 COM 219350105 0 168,183 SH   SOLE   119,979 14,952 33,252
CRANE CO COMMON STOCK USD1.0 COM 224399105 0 706,478 SH   SOLE   121,911 2,966 581,601
Credit Suisse Grp Spons- ADR COM 225401108 0 219,252 SH   SOLE   19,094 62,499 137,659
CSG Systems Intl COM 126349109 0 258,377 SH   SOLE   52,743 734 204,900
CST Brands INC COM 12646r105 0 15,636 SH   SOLE   3,924 754 10,958
CSX Corp COM 126408103 0 82,157 SH   SOLE   52,088 9,367 20,702
CTC Media Inc COM 12642x106 0 485,800 SH   SOLE   43,205 147,503 295,092
Curtiss-Wright Corp. COM 231561101 0 778,377 SH   SOLE   156,121 2,260 619,996
D S T SYSTEMS INC COM 233326107 0 417,332 SH   SOLE   76,347 1,025 339,960
Darden Restaurants Inc. COM 237194105 0 52,201 SH   SOLE   88 1,203 50,910
Delhaize Le Lion S A Adr COM 29759w101 0 100,306 SH   SOLE   9,209 31,876 59,221
DELL INC COMMON STOCK USD.01 COM 24702R101 0 14,495 SH   SOLE   14,495 0 0
Deutsche Bank AG REG COM D18190898 0 45,705 SH   SOLE   10,458 35,247 0
DEVON ENERGY CP NEW COM 25179m103 0 50,304 SH   SOLE   32,228 5,660 12,416
Domtar Corp COM 257559203 0 40,425 SH   SOLE   1,200 0 39,225
Donnelley (R R) & Sons Co COM 257867101 0 26,775 SH   SOLE   26,775 0 0
DUKE REALTY CORP REIT USD.01 COM 264411505 0 181,195 SH   SOLE   325 4,526 176,344
East West Bancorp Inc. COM 27579R104 0 991,695 SH   SOLE   172,941 2,509 816,245
Eaton Corporation PLC Ordinary COM G29183103 0 87,924 SH   SOLE   22,486 4,981 60,457
EMCOR GROUP INC COM 29084Q100 0 342,828 SH   SOLE   68,813 1,050 272,965
ENDURANCE SPECALTY HLDGF COM G30397106 0 467,093 SH   SOLE   95,775 1,567 369,751
Energen Corp Com COM 29265N108 0 518,879 SH   SOLE   99,793 1,373 417,713
ENERGIZER HOLDINGS INC COMMON COM 29266R108 0 68,788 SH   SOLE   1,037 876 66,875
ENERSYS COM 29275Y102 0 637,636 SH   SOLE   130,140 1,642 505,854
Eni S P A Sponsored ADR COM 26874r108 0 121,607 SH   SOLE   11,704 35,374 74,529
ENSCO PLC SPON ADR ADR USD.1 COM g3157s106 0 55,692 SH   SOLE   3,361 1,301 51,030
EPIQ SYS INC COM COM 26882D109 0 256,545 SH   SOLE   51,054 775 204,716
EPR PROPERTIES BENEFICIAL INTE COM 26884u109 0 70,700 SH   SOLE   2,000 0 68,700
ESTERLINE TECH CORP COM 297425100 0 332,954 SH   SOLE   66,706 847 265,401
EURONET WORLDWIDE INC COM 298736109 0 196,533 SH   SOLE   38,062 610 157,861
Everest Reins Hldgs COM g3223r108 0 25,952 SH   SOLE   1,177 0 24,775
FEDERATED INVESTORS INC CL B C COM 314211103 0 574,385 SH   SOLE   114,482 2,058 457,845
FEDEX CORPORATION COM 31428x106 0 19,169 SH   SOLE   12,467 2,090 4,612
FIFTH THIRD BANCORP COM 316773100 0 336,089 SH   SOLE   105,067 18,012 213,010
First Horizon National Corp COM 320517105 0 2,466,099 SH   SOLE   488,217 7,737 1,970,145
First Midwest Bancorp, Inc. COM 320867104 0 701,901 SH   SOLE   138,980 1,851 561,070
First Niagara Financial Group COM 33582V108 0 2,590,351 SH   SOLE   524,016 7,686 2,058,649
FIRSTMERIT CORP COM 337915102 0 1,760,185 SH   SOLE   327,351 4,567 1,428,267
Ford Motor Co COM 345370860 0 189,690 SH   SOLE   134,349 17,282 38,059
Foster (LB) Co. - Class A COM 350060109 0 109,301 SH   SOLE   21,792 319 87,190
FOSTER WHEELER AG COM h27178104 0 243,970 SH   SOLE   59,604 76,121 108,245
FREEPORT MCMORAN COPPER COMMON COM 35671D857 0 7,370 SH   SOLE   7,370 0 0
FULTON FINANCIAL CORP COM 360271100 0 3,108,143 SH   SOLE   579,149 8,244 2,520,750
GENERAL CABLE CP DE NEW COM 369300108 0 1,007,880 SH   SOLE   166,671 4,686 836,523
GENERAL ELECTRIC COMPANY COM 369604103 0 104,467 SH   SOLE   72,095 10,166 22,206
Gentiva Health Services COM 37247a102 0 412,743 SH   SOLE   83,044 1,324 328,375
Glacier Bancorp New Com COM 37637Q105 0 391,399 SH   SOLE   76,875 774 313,750
GOLDMAN SACHS GROUP INC COM 38141g104 0 16,417 SH   SOLE   11,673 1,472 3,272
HALLIBURTON CO COMMON STOCK US COM 406216101 0 58,916 SH   SOLE   40,468 5,771 12,677
Hancock Hldg Co Com COM 410120109 0 886,615 SH   SOLE   179,634 2,621 704,360
HANESBRANDS INC COM 410345102 0 676,414 SH   SOLE   127,054 1,830 547,530
HANOVER INSURANCE GROUP COM 410867105 0 650,574 SH   SOLE   134,268 1,911 514,395
HARRIS CORP COMMON STOCK USD1. COM 413875105 0 116,468 SH   SOLE   36,557 6,647 73,264
Harsco Corp Com COM 415864107 0 136,025 SH   SOLE   3,925 0 132,100
HARTFORD FINL SVCS GRP COM 416515104 0 367,604 SH   SOLE   63,792 11,515 292,297
HELEN OF TROY LTD F COM G4388N106 0 493,489 SH   SOLE   97,097 1,558 394,834
HEWLETT PACKARD CO COMMON STOC COM 428236103 0 113,584 SH   SOLE   79,049 10,934 23,601
Hillenbrand Inc COM 431571108 0 420,872 SH   SOLE   85,811 1,222 333,839
Hill-Rom Holdings Inc COM 431475102 0 626,948 SH   SOLE   124,250 1,769 500,929
HOSPITALITY PPTYS TRUST BENEFI COM 44106M102 0 1,292,435 SH   SOLE   214,548 5,369 1,072,518
HSBC Hldgs PLC Spons-ADR COM 404280406 0 112,944 SH   SOLE   10,748 33,094 69,102
Huntsman Corp COM 447011107 0 1,489,779 SH   SOLE   203,854 7,835 1,278,090
Hyster-Yale Materials Class A COM 449172105 0 103,483 SH   SOLE   19,767 98 83,618
IDACORP INCORPORATED COM 451107106 0 574,968 SH   SOLE   113,398 1,419 460,151
Independent Bk Cp Mass Com COM 453836108 0 180,239 SH   SOLE   35,692 322 144,225
Info Systems Tech LTD ADR COM 456788108 0 132,549 SH   SOLE   11,797 39,752 81,000
ING GP NV SPSD ADR COM 456837103 0 726,490 SH   SOLE   68,314 217,863 440,313
Ingersoll Rand Plc COM g47791101 0 62,846 SH   SOLE   105 1,491 61,250
Ingram Micro Inc COM 457153104 0 1,409,094 SH   SOLE   283,482 3,456 1,122,156
Integra Hldgs Corp. COM 457985208 0 359,470 SH   SOLE   70,409 1,021 288,040
Interactive Brokers Group. COM 45841n107 0 776,750 SH   SOLE   154,652 1,936 620,162
International Bncshrs Com COM 459044103 0 328,953 SH   SOLE   65,523 600 262,830
INTL GAME TECHNOLOGY COMMON ST COM 459902102 0 334,488 SH   SOLE   91,753 18,244 224,491
Invesco Ltd COM g491bt108 0 108,956 SH   SOLE   189 2,647 106,120
Ishares Tr Russell 2000 COM 464287655 0 51,995 SH   SOLE   35,137 0 16,858
ITAU UNIBANCO HLDNG-PREF ADR COM 465562106 0 402,537 SH   SOLE   35,858 109,514 257,165
ITRON INC COM 465741106 0 390,435 SH   SOLE   78,238 970 311,227
ITT CORP COMMON STOCK USD1.0 COM 450911201 0 1,094,514 SH   SOLE   234,539 3,190 856,785
JABIL CIRCUIT INC COM 466313103 0 151,171 SH   SOLE   7,121 0 144,050
JOY GLOBAL INC COMMON STOCK US COM 481165108 0 49,547 SH   SOLE   2,497 0 47,050
JPMORGAN CHASE & CO COM 46625h100 0 53,097 SH   SOLE   38,500 4,532 10,065
KB Financial Group Inc-ADR COM 48241a105 0 173,675 SH   SOLE   16,695 51,770 105,210
Keycorp COM 493267108 0 589,792 SH   SOLE   164,196 31,592 394,004
Kindred Healthcare Inc. COM 494580103 0 827,351 SH   SOLE   165,317 2,334 659,700
KINROSS GOLD CORP COM 496902404 0 1,043,308 SH   SOLE   64,856 225,119 753,333
KKR Financial Corp COM 48248a306 0 684,555 SH   SOLE   140,899 2,130 541,526
KLA-TENCOR Corp COM 482480100 0 114,867 SH   SOLE   1,809 1,388 111,670
Koppers COM 50060P106 0 169,120 SH   SOLE   33,750 675 134,695
KROGER CO COMMON STOCK USD1.0 COM 501044101 0 10,578 SH   SOLE   10,578 0 0
Kulicke & Soffa Industries COM 501242101 0 1,143,599 SH   SOLE   230,820 3,336 909,443
L 3 COMMUNICATIONS HLDGS INC C COM 502424104 0 67,969 SH   SOLE   20,079 3,672 44,218
Lakeland Financial Corp. COM 511656100 0 196,620 SH   SOLE   39,105 370 157,145
Lear Corp. COM 521865204 0 58,042 SH   SOLE   102 1,440 56,500
LIFEPOINT HOSPITALS INC COM 53219L109 0 683,154 SH   SOLE   126,187 1,517 555,450
LINCOLN NATIONAL CORP COMMON S COM 534187109 0 127,906 SH   SOLE   1,826 3,040 123,040
LORILLARD INC COMMON STOCK USD COM 544147101 0 51,109 SH   SOLE   87 1,222 49,800
LYONDELLBASELL INDU-CL A COM N53745100 0 3,037 SH   SOLE   3,037 0 0
MACK CALI REALTY CORP REIT USD COM 554489104 0 1,066,329 SH   SOLE   198,179 1,740 866,410
Mantech International Corp. - COM 564563104 0 511,470 SH   SOLE   91,737 1,153 418,580
MARATHON OIL CORP COM 565849106 0 104,454 SH   SOLE   176 2,438 101,840
Marvell Technology Group Ltd COM G5876H105 0 630,976 SH   SOLE   36,053 125,715 469,208
Matthews International Corp COM 577128101 0 210,922 SH   SOLE   41,792 740 168,390
MCGRATH RENTCORP COM 580589109 0 137,171 SH   SOLE   27,270 653 109,248
Mentor Graphics Corp COM 587200106 0 1,076,873 SH   SOLE   214,806 3,162 858,905
MEREDITH CORP COM 589433101 0 652,183 SH   SOLE   116,062 1,632 534,489
METLIFE INC COMMON STOCK USD.0 COM 59156R108 0 65,076 SH   SOLE   46,293 5,875 12,908
MICROSEMI CORPORATION COM 595137100 0 1,488,741 SH   SOLE   272,513 3,828 1,212,400
MICROSOFT CORP COM 594918104 0 86,611 SH   SOLE   61,209 7,969 17,433
Mitsubishi UFJ Financial Group COM 606822104 0 936,912 SH   SOLE   90,222 289,842 556,848
Mizuho Finl Group Inc. COM 60687Y109 0 11,119 SH   SOLE   11,119 0 0
MOLSON COOR BREW CO CL B COM 60871r209 0 64,286 SH   SOLE   108 1,508 62,670
MONTPELIER RE HLDGS LTD COM G62185106 0 468,279 SH   SOLE   93,784 1,400 373,095
MURPHY OIL CORP COMMON STOCK U COM 626717102 0 53,002 SH   SOLE   1,643 1,269 50,090
Nabors Industries Ltd. COM G6359F103 0 212,327 SH   SOLE   24,227 0 188,100
NASDAQ OMX GROUP/THE COMMON ST COM 631103108 0 120,763 SH   SOLE   207 2,886 117,670
Navigant Consulting Inc. COM 63935N107 0 188,864 SH   SOLE   37,865 819 150,180
NBT Bancorp COM 628778102 0 296,925 SH   SOLE   59,406 930 236,589
NCR Corp COM 62886E108 0 234,524 SH   SOLE   3,411 2,924 228,189
NELNET INC CL A COM 64031N108 0 214,808 SH   SOLE   42,960 431 171,417
NEWMONT MINING CORP COM 651639106 0 63,155 SH   SOLE   45,308 5,596 12,251
Nippon Teleg Adr COM 654624105 0 229,866 SH   SOLE   22,574 71,963 135,329
Nomura Hldg Inc Spons- ADR COM 65535H208 0 639,857 SH   SOLE   57,497 190,748 391,612
NORFOLK SOUTHERN CORP COMMON S COM 655844108 0 47,593 SH   SOLE   81 1,132 46,380
NUCOR CORP COMMON STOCK USD.4 COM 670346105 0 62,625 SH   SOLE   112 1,563 60,950
Oil States International Inc COM 678026105 0 80,161 SH   SOLE   1,231 975 77,955
OLD NATIONAL BANCORP COM 680033107 0 222,607 SH   SOLE   6,525 0 216,082
Olin Corp COM 680665205 0 1,163,974 SH   SOLE   233,930 3,354 926,690
Omega Healthcare Investors COM 681936100 0 907,237 SH   SOLE   181,413 2,664 723,160
Oracle Corp COM 68389X105 0 6,971 SH   SOLE   6,971 0 0
ORTHOFIX INTERNATIONAL NV COM N6748L102 0 258,537 SH   SOLE   51,415 752 206,370
Oshkosh Truck Corp. COM 688239201 0 187,293 SH   SOLE   3,840 2,288 181,165
OWENS &MINOR INC HLDG CO COM 690732102 0 857,826 SH   SOLE   171,494 1,963 684,369
OWENS ILLINOIS INC COMMON STOC COM 690768403 0 259,550 SH   SOLE   5,419 3,496 250,635
PAN AMERICAN SILVER CP F COM 697900108 0 1,226,575 SH   SOLE   244,669 3,540 978,366
PartnerRe Ltd. COM G6852T105 0 34,502 SH   SOLE   62 869 33,571
Pennsylvania Rl Est Tr Sh Ben COM 709102107 0 1,111,577 SH   SOLE   222,306 3,121 886,150
Petroleo Brasileiro S/A COM 71654v408 0 289,763 SH   SOLE   25,283 85,263 179,217
PFIZER INCORPORATED COM 717081103 0 71,097 SH   SOLE   48,742 6,457 15,898
Pharmerica Corp. COM 71714F104 0 329,844 SH   SOLE   65,535 959 263,350
Phillips 66 COM 718546104 0 3,819 SH   SOLE   3,819 0 0
PLANTRONICS INC COM 727493108 0 658,210 SH   SOLE   131,729 1,666 524,815
PLATINUM UNDERWRITERS F COM G7127P100 0 287,435 SH   SOLE   63,850 1,008 222,577
PMC SIERRA INC COM 69344F106 0 1,306,250 SH   SOLE   702,065 6,775 597,410
PNC FINL SERVICES GP INC COM 693475105 0 33,753 SH   SOLE   24,450 2,923 6,380
Portland General Electric COM 736508847 0 1,061,371 SH   SOLE   193,765 2,798 864,808
PPL CORPORATION COMMON STOCK U COM 69351T106 0 118,617 SH   SOLE   6,880 2,652 109,085
Prospect Capital Corp. COM 74348T102 0 917,305 SH   SOLE   182,722 2,633 731,950
Prosperity Bancshares Inc. COM 743606105 0 410,496 SH   SOLE   80,532 931 329,033
PROTECTIVE LIFE CORP COM 743674103 0 699,665 SH   SOLE   144,027 2,055 553,583
QUALCOMM INC COMMON STOCK USD. COM 747525103 0 31,533 SH   SOLE   19,833 3,549 8,151
Quest Diagnostics Inc. COM 74834L100 0 40,678 SH   SOLE   27,936 3,979 8,763
RAYMOND JAMES FINL INC COM 754730109 0 89,600 SH   SOLE   2,650 0 86,950
Regions Financial Corp. New COM 7591ep100 0 410,094 SH   SOLE   11,556 9,978 388,560
RELIANCE STEEL + ALUMINUM COMM COM 759509102 0 45,650 SH   SOLE   1,925 0 43,725
Rent-A-Center Inc. COM 76009n100 0 81,700 SH   SOLE   2,425 0 79,275
Rock-Tenn COM 772739207 0 76,887 SH   SOLE   1,100 1,032 74,755
Rosetta Resources Inc COM 777779307 0 62,300 SH   SOLE   1,850 0 60,450
ROYAL DUTCH SHELL PLC ADR ADR COM 780259206 0 85,036 SH   SOLE   8,078 24,815 52,143
RYDER SYSTEM INC COM 783549108 0 579,679 SH   SOLE   113,292 2,677 463,710
Sanmina Corp COM 801056102 0 1,089,189 SH   SOLE   217,399 3,264 868,526
Schulman A Inc Com COM 808194104 0 273,082 SH   SOLE   54,477 780 217,825
SELECT MEDICAL HOLDINGS CORP COM 81619Q105 0 946,785 SH   SOLE   189,335 2,890 754,560
SENIOR HOUSING PROP TRUST REIT COM 81721M109 0 116,072 SH   SOLE   210 2,927 112,935
Ship Finance Intl Ltd COM g81075106 0 546,153 SH   SOLE   108,939 1,544 435,670
Siemens AG ADR COM 826197501 0 52,270 SH   SOLE   4,475 15,847 31,948
Sirius Satellite Radio Inc. COM 82967n108 0 13,205 SH   SOLE   13,205 0 0
SK TELECOM ADR COM 78440P108 0 291,098 SH   SOLE   29,577 94,554 166,967
SMITH-NPHW PLC SPADR NEW COM 83175M205 0 99,821 SH   SOLE   8,797 29,628 61,396
SPX Corp. COM 784635104 0 301,593 SH   SOLE   46,831 497 254,265
St Jude Medical Inc COM 790849103 0 131,373 SH   SOLE   40,949 7,497 82,927
STAPLES INC COM 855030102 0 426,876 SH   SOLE   126,534 22,460 277,882
StatoilHydro ASA COM 85771p102 0 246,443 SH   SOLE   21,620 66,333 158,490
Steel Dynamics Inc Com COM 858119100 0 1,582,352 SH   SOLE   314,009 4,565 1,263,778
SUMITOMO MITSUI-SPONS ADR COM 86562M209 0 688,284 SH   SOLE   65,036 205,169 418,079
Suncor Energy Inc. COM 867224107 0 190,778 SH   SOLE   18,008 57,174 115,596
SUNTRUST BANKS INC COM 867914103 0 189,681 SH   SOLE   61,779 10,478 117,424
SUPERIOR ENERGY SERVICES COM 868157108 0 1,067,889 SH   SOLE   173,487 2,861 891,541
SYMANTEC CORP COMMON STOCK USD COM 871503108 0 152,843 SH   SOLE   22,625 3,167 127,051
SYMETRA FINANCIAL CORP COM 87151q106 0 809,514 SH   SOLE   160,823 2,106 646,585
SYNOPSYS INC COMMON STOCK USD. COM 871607107 0 182,848 SH   SOLE   2,784 2,242 177,822
TATA MTRS LTD SPONSORED ADR COM 876568502 0 220,032 SH   SOLE   21,044 65,217 133,771
TCF Financial Corp. Com COM 872275102 0 878,080 SH   SOLE   177,674 2,627 697,779
TECO ENERGY INC COM 872375100 0 1,090,635 SH   SOLE   99,601 3,324 987,710
TELEFLEX INCORPORATED COM 879369106 0 40,075 SH   SOLE   1,150 0 38,925
Telefonica SA Spain ADR COM 879382208 0 394,385 SH   SOLE   37,339 118,977 238,069
TERADYNE INC COMMON STOCK USD. COM 880770102 0 189,825 SH   SOLE   5,675 0 184,150
TESSCO TECHNOLOGIES INC COM 872386107 0 110,834 SH   SOLE   21,779 325 88,730
Teva Pharmaceutical Industries COM 881624209 0 155,293 SH   SOLE   14,531 45,040 95,722
TEXTAINER GROUP HOLDINGS LTD C COM G8766E109 0 71,675 SH   SOLE   2,100 0 69,575
THE JONES GROUP INC COM 48020T101 0 2,050,918 SH   SOLE   368,302 5,272 1,677,344
THERMO FISHER SCIENTIFIC INC C COM 883556102 0 29,232 SH   SOLE   20,362 2,534 6,336
TITAN INTERNATIONAL INC COM 88830M102 0 136,875 SH   SOLE   4,150 0 132,725
Total SA ADR COM 89151E109 0 112,889 SH   SOLE   10,822 33,073 68,994
Trinity Industries COM 896522109 0 643,195 SH   SOLE   110,839 804 531,552
TTM Technologies COM 87305r109 0 568,892 SH   SOLE   118,554 1,093 449,245
TUTOR PERINI CORP COM 901109108 0 1,277,837 SH   SOLE   220,867 3,199 1,053,771
Tyson Foods Inc CL A COM 902494103 0 129,250 SH   SOLE   3,800 0 125,450
U S BANCORP DEL NEW COM 902973304 0 6,521 SH   SOLE   6,521 0 0
UBS AG COM h89231338 0 313,600 SH   SOLE   0 95,794 217,806
Umpqua Holdings Corp. COM 904214103 0 662,872 SH   SOLE   130,242 2,400 530,230
Unit Corporation COM 909218109 0 543,920 SH   SOLE   111,615 1,662 430,643
United Therapueutics Corp. COM 91307C102 0 53,200 SH   SOLE   1,525 0 51,675
UNITEDHEALTH GROUP INC COM 91324p102 0 7,854 SH   SOLE   7,854 0 0
UNUM GROUP COMMON STOCK USD.1 COM 91529Y106 0 266,814 SH   SOLE   5,778 3,236 257,800
URS CORP COMMON STOCK USD.01 COM 903236107 0 576,018 SH   SOLE   92,069 2,979 480,970
Valassis Communication Inc. COM 918866104 0 107,835 SH   SOLE   4,535 0 103,300
VALERO ENERGY CORP NEW COM 91913y100 0 146,176 SH   SOLE   40,618 6,956 98,602
VODAFONE GROUP PLC SP ADR ADR COM 92857W209 0 203,060 SH   SOLE   17,854 61,377 123,829
WADDELL & REED FINL CL A COM 930059100 0 554,722 SH   SOLE   110,569 1,729 442,424
WASHINGTON FEDERAL INC SEATTLE COM 938824109 0 1,820,010 SH   SOLE   368,223 5,352 1,446,435
WASTE MANAGEMENT INC COM 94106l109 0 85,288 SH   SOLE   143 2,025 83,120
Webster Finl Corp Waterbury COM 947890109 0 739,312 SH   SOLE   124,510 1,578 613,224
WEINGARTEN REALTY INVESTORS RE COM 948741103 0 122,825 SH   SOLE   3,750 0 119,075
WELLPOINT INC COMMON STOCK USD COM 94973V107 0 2,482 SH   SOLE   2,482 0 0
WELLS FARGO & CO NEW COM 949746101 0 68,330 SH   SOLE   49,332 5,942 13,056
WesBanco Inc. COM 950810101 0 202,308 SH   SOLE   57,176 336 144,796
WESTERN UN CO COM 959802109 0 182,829 SH   SOLE   26,257 3,882 152,690
Wiley John & Sons CL A COM 968223206 0 293,800 SH   SOLE   58,457 842 234,501
Wintrust Finl Corp Com COM 97650W108 0 626,826 SH   SOLE   125,024 1,781 500,021
Worthington Industries Inc COM 981811102 0 582,492 SH   SOLE   116,716 1,709 464,067
XEROX CORP COMMON STOCK USD1.0 COM 984121103 0 11,059 SH   SOLE   11,059 0 0
YAMANA GOLD INC COM 98462y100 0 724,372 SH   SOLE   135,577 134,441 454,354
Zep Inc COM 98944b108 0 161,223 SH   SOLE   31,215 445 129,563
ZIMMER HOLDINGS INC COM 98956p102 0 47,274 SH   SOLE   80 1,124 46,070
Zions Bancorp COM 989701107 0 125,475 SH   SOLE   3,675 0 121,800