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 9,232 300,723 SH   SOLE   263,099 3,483 34,141
Aarons Inc COM 002535300 10,573 373,473 SH   SOLE   326,280 4,158 43,035
ABB LTD SPON ADR COM 000375204 4,420 208,782 SH   SOLE   32,006 76,493 100,283
AbbVie INC COM 00287y109 565 9,655 SH   SOLE   9,655 0 0
ABM INDUSTRIES INC COM 000957100 7,821 245,491 SH   SOLE   215,505 2,696 27,290
Ace Limited COM H0023R105 34 304 SH   SOLE   304 0 0
Aegion Corp COM 00770f104 3,588 198,777 SH   SOLE   173,055 2,079 23,643
Aegon Nv COM 007924103 4,847 611,163 SH   SOLE   93,030 214,876 303,257
AES CORP COMMON STOCK USD.01 COM 00130H105 243 18,921 SH   SOLE   18,921 0 0
AETNA INC NEW COM 00817y108 1,033 9,698 SH   SOLE   9,698 0 0
AFLAC INC COMMON STOCK USD.1 COM 001055102 2,468 38,551 SH   SOLE   34,729 3,691 131
AGCO Corp. COM 001084102 222 4,660 SH   SOLE   4,660 0 0
AGL RESOURCES INC COMMON STOCK USD5.0 COM 001204106 252 5,071 SH   SOLE   5,071 0 0
AGRIUM INC COMMON STOCK NPV COM 008916108 4,712 45,195 SH   SOLE   10,605 16,368 18,222
AIRCASTLE LTD COM G0129k104 13,557 603,620 SH   SOLE   527,509 7,625 68,486
Albemarle Corp. COM 012653101 199 3,765 SH   SOLE   3,765 0 0
ALLETE INC NEW COM 018522300 9,233 174,998 SH   SOLE   152,880 2,268 19,850
Allianz SE - ADR (1 to 1/10 ALV GR) COM 018805101 4,561 262,052 SH   SOLE   41,163 90,865 130,024
ALLIED WORLD ASSUR NEW F COM H01531104 10,072 249,314 SH   SOLE   240,202 3,466 5,646
ALLSTATE CORPORATION COM 020002101 2,400 33,721 SH   SOLE   27,645 5,942 134
ALTRIA GROUP INC COM 02209s103 428 8,550 SH   SOLE   8,550 0 0
America Movil-ADR Series L COM 02364w105 4,110 200,875 SH   SOLE   32,423 72,993 95,459
American Axle & Mfg Hldgs COM 024061103 13,298 514,812 SH   SOLE   450,376 6,319 58,117
American Equity Investment Life Holding Co COM 025676206 139 4,757 SH   SOLE   4,757 0 0
AMERICAN EXPRESS COMPANY COM 025816109 562 7,196 SH   SOLE   7,196 0 0
American Financial Group Inc. COM 025932104 219 3,418 SH   SOLE   3,418 0 0
American International Group COM 026874784 632 11,542 SH   SOLE   11,542 0 0
AMERIPRISE FINANCIAL INC COMMON STOCK USD. COM 03076C106 206 1,571 SH   SOLE   270 1,301 0
AMN ELEC POWER CO COM 025537101 178 3,165 SH   SOLE   560 2,605 0
ANADARKO PETROLEUM CORP COM 032511107 1,599 19,312 SH   SOLE   16,371 2,839 102
ANDERSONS INC/THE COM 034164103 119 2,888 SH   SOLE   2,888 0 0
ANIXTER INTL INC COM 035290105 126 1,654 SH   SOLE   1,654 0 0
Annaly Mtg Mgmt Inc. COM 035710409 49 4,750 SH   SOLE   4,750 0 0
APACHE CORP COM 037411105 612 10,152 SH   SOLE   10,152 0 0
APOLLO RESIDENTIAL MORTGAGE COM 03763V102 4,894 306,856 SH   SOLE   268,160 3,536 35,160
Apple Computer COM 037833100 1,946 15,640 SH   SOLE   13,444 2,117 79
Arch Capital Group Ltd COM g0450a105 43 706 SH   SOLE   706 0 0
ARCHER DANIELS MIDLAND CO COMMON STOCK NPV COM 039483102 571 12,050 SH   SOLE   12,050 0 0
ARRIS GROUP INC COMMON STOCK USD.01 COM 04270V106 6,733 233,006 SH   SOLE   201,469 2,946 28,591
ARROW ELECTRONICS INC COMMON STOCK USD1.0 COM 042735100 417 6,822 SH   SOLE   4,133 2,689 0
Ashford Hospitality Trust COM 044103109 5,837 606,732 SH   SOLE   530,520 6,869 69,343
ASPEN INSURANCE HOLDINGF COM G05384105 11,375 240,846 SH   SOLE   211,325 2,766 26,755
Associated Banc-Corp COM 045487105 13,994 752,366 SH   SOLE   656,500 8,751 87,115
ASSOCIATED ESTATE RLTY COM COM 045604105 144 5,854 SH   SOLE   5,854 0 0
ASSURANT INC COMMON STOCK USD.01 COM 04621X108 186 3,025 SH   SOLE   3,025 0 0
ASTRAZENECA PLC ADR F SPONSORED ADR 1 ADR COM 046353108 1,881 27,489 SH   SOLE   23,518 3,834 137
AT& T INC COM 00206r102 2,340 71,664 SH   SOLE   64,131 7,272 261
Atlas Air Worldwide COM 049164205 120 2,789 SH   SOLE   2,789 0 0
ATWOOD OCEANICS INC COM 050095108 7,184 255,569 SH   SOLE   223,385 3,120 29,064
Avista Corp. COM 05379B107 130 3,795 SH   SOLE   3,795 0 0
AVIVA PLC-SPON ADR COM 05382A104 28 1,726 SH   SOLE   1,726 0 0
Avnet Inc Com COM 053807103 269 6,048 SH   SOLE   6,048 0 0
Avon Products Inc. COM 054303102 272 34,076 SH   SOLE   34,076 0 0
AVX Corp. COM 002444107 2,479 173,703 SH   SOLE   151,630 2,223 19,850
AXIS CAPITAL HOLDINGS LTD COMMON STOCK USD COM G0692U109 194 3,762 SH   SOLE   660 3,102 0
BAKER HUGHES INC COMMON STOCK USD1.0 COM 057224107 599 9,429 SH   SOLE   9,429 0 0
Banco Bilbao Vizcaya - ADR COM 05946K101 4,668 465,433 SH   SOLE   72,631 175,066 217,736
BANCO SANT SA ADR COM 05964H105 4,702 631,135 SH   SOLE   103,511 233,469 294,155
BANCO SANTANDER BRASIL-ADS COM 05967a107 12 2,829 SH   SOLE   2,829 0 0
BANK OF AMERICA CORP COM 060505104 1,763 114,530 SH   SOLE   99,010 14,980 540
Bank of Montreal COM 063671101 18 295 SH   SOLE   295 0 0
Bank Of New York Mellon Corp. COM 064058100 1,990 49,444 SH   SOLE   42,538 6,666 240
Bank of Nova Scotia COM 064149107 18 349 SH   SOLE   349 0 0
Barclays PLC- ADR COM 06738E204 2,559 175,628 SH   SOLE   43,410 0 132,218
BARNES GROUP INC COM 067806109 12,286 303,434 SH   SOLE   265,381 3,601 34,452
BARRICK GOLD CORPORATION COM 067901108 19 1,767 SH   SOLE   1,767 0 0
Baxter International Inc COM 071813109 540 7,876 SH   SOLE   7,876 0 0
BB+T CORP COMMON STOCK USD5.0 COM 054937107 2,011 51,572 SH   SOLE   45,304 6,050 218
Bed Bath & Beyond Inc. COM 075896100 153 1,995 SH   SOLE   350 1,645 0
Bellatrix Exploration Ltd. COM 078314101 2,348 966,183 SH   SOLE   843,410 10,983 111,790
BEST BUY CO INC COM 086516101 147 3,900 SH   SOLE   3,900 0 0
BHP BILLITON LTD ADR F SPONSORED ADR 1 ADR COM 088606108 5,097 109,680 SH   SOLE   33,083 35,739 40,858
BIG 5 SPORTING CORP COM 08915P101 2,030 153,014 SH   SOLE   133,480 2,084 17,450
BIG LOTS INC COMMON STOCK USD.01 COM 089302103 4,317 89,891 SH   SOLE   78,465 1,196 10,230
BP PLC ADR F SPONSORED ADR 1 ADR REP 6 ORD COM 055622104 4,657 119,069 SH   SOLE   27,128 37,721 54,220
Brady Corp WI CL A COM 104674106 4,622 163,362 SH   SOLE   143,590 1,999 17,773
Brandywine Rlty Tr Sh Ben Int New COM 105368203 10,824 677,335 SH   SOLE   596,135 3,620 77,580
BRINKER INTL INC COM 109641100 8,838 143,563 SH   SOLE   124,950 1,863 16,750
BRINKS CO COM 109696104 9,681 350,375 SH   SOLE   306,915 2,405 41,055
Broadcom Corp. COM 111320107 589 13,611 SH   SOLE   13,611 0 0
Brocade Communications COM 111621306 3,387 285,459 SH   SOLE   248,917 3,634 32,908
BT Group PLC - SPON ADR COM 05577e101 28 424 SH   SOLE   424 0 0
C B L & ASSOC PROPERTIES REIT COM 124830100 8,234 415,852 SH   SOLE   368,650 1,625 45,577
CA INC COMMON STOCK USD.1 COM 12673P105 2,222 68,133 SH   SOLE   56,109 11,770 254
Cabot Corp. COM 127055101 8,222 182,707 SH   SOLE   159,769 2,138 20,800
Cal-Maine Foods Inc. COM 128030202 137 3,517 SH   SOLE   3,517 0 0
Cameron International Corp. COM 13342b105 201 4,446 SH   SOLE   4,446 0 0
CANADIAN IMPRL BK COMM COM COM 136069101 16 225 SH   SOLE   225 0 0
Canadian Natural Res Ltd COM 136385101 19 613 SH   SOLE   613 0 0
Canon Inc- ADR COM 138006309 4,814 136,118 SH   SOLE   21,046 50,698 64,374
CAPITAL ONE FINANCIAL CORP COMMON STOCK US COM 14040H105 607 7,706 SH   SOLE   7,706 0 0
CARNIVAL CORP NEW F PAIRED STK SPECIAL VTG COM 143658300 53 1,100 SH   SOLE   1,100 0 0
CATERPILLAR INC COMMON STOCK USD1.0 COM 149123101 495 6,182 SH   SOLE   6,182 0 0
Celanese Corp. - Series A COM 150870103 47 833 SH   SOLE   833 0 0
CELESTICA SUB VTG SHS COM 15101Q108 4,012 361,131 SH   SOLE   321,271 5,218 34,642
Cemig SA-Spons ADR COM 204409601 3,344 817,644 SH   SOLE   117,658 283,942 416,044
CENTURYLINK INC COMMON STOCK USD1.0 COM 156700106 489 14,149 SH   SOLE   14,149 0 0
CHARLES RIVER LABORATORIES COMMON STOCK US COM 159864107 4,466 56,322 SH   SOLE   49,180 750 6,392
Chemical Financial Corp. COM 163731102 2,573 82,044 SH   SOLE   71,974 1,002 9,068
CHESAPEAKE ENERGY CORP COM 165167107 534 37,705 SH   SOLE   33,069 4,636 0
CHEVRON CORP COM 166764100 693 6,601 SH   SOLE   6,601 0 0
Chicago Bridge & Iron COM 167250109 27 539 SH   SOLE   539 0 0
China Mobile LTD Spn ADR COM 16941m109 4,102 63,077 SH   SOLE   9,867 23,721 29,489
CHINA PETE & CHEM CORP SPON ADR H SHS COM 16941r108 49 619 SH   SOLE   619 0 0
CHIPMOS TECHNOLOGIES BERMUDA COM g2110r114 2,448 99,261 SH   SOLE   86,680 1,321 11,260
CHUBB CORP COM 171232101 718 7,105 SH   SOLE   7,105 0 0
CIA Vale Do Rio Doce - ADR COM 91912e105 2,453 434,190 SH   SOLE   64,704 148,941 220,545
CIGNA CORP COMMON STOCK USD.25 COM 125509109 231 1,786 SH   SOLE   310 1,476 0
Cirrus Logic Inc. COM 172755100 241 7,232 SH   SOLE   7,232 0 0
Cisco Systems Inc. COM 17275R102 2,645 96,102 SH   SOLE   86,598 9,174 330
CITIGROUP INC COM 172967424 2,247 43,620 SH   SOLE   39,289 4,180 151
CNA Financial Corp COM 126117100 55 1,338 SH   SOLE   1,338 0 0
CNOOC LTD ADR COM 126132109 4,351 30,677 SH   SOLE   5,020 11,178 14,479
Coach Inc. COM 189754104 387 9,329 SH   SOLE   9,329 0 0
COEUR D ALENE MINES CORP COMMON STOCK USD. COM 192108504 2,918 619,453 SH   SOLE   536,412 7,647 75,394
COMERICA INC COM COM 200340107 174 3,851 SH   SOLE   670 3,181 0
Community Health System New COM 203668108 181 3,463 SH   SOLE   610 2,853 0
Companhia D. Snmnto Bsco COM 20441a102 12 2,223 SH   SOLE   2,223 0 0
COMPUTER SCIENCES CORP COMMON STOCK USD1.0 COM 205363104 211 3,228 SH   SOLE   570 2,658 0
CONOCOPHILLIPS COM 20825c104 2,497 40,114 SH   SOLE   35,674 4,289 151
Con-Way Inc COM 205944101 9,091 206,008 SH   SOLE   179,950 2,688 23,370
Cooper Tire And Rubber COM 216831107 8,574 200,143 SH   SOLE   174,625 2,678 22,840
CORNING INC COMMON STOCK USD.5 COM 219350105 1,717 75,697 SH   SOLE   62,340 12,898 459
Corrections Corp Of America COM 22025Y407 218 5,426 SH   SOLE   940 4,486 0
CRANE CO COMMON STOCK USD1.0 COM 224399105 8,555 137,080 SH   SOLE   115,942 3,673 17,465
Credit Suisse Grp Spons- ADR COM 225401108 5,221 193,861 SH   SOLE   29,120 73,496 91,245
CSG Systems Intl COM 126349109 4,671 153,695 SH   SOLE   134,380 1,675 17,640
CSX Corp COM 126408103 1,289 38,932 SH   SOLE   32,087 6,608 237
CTC Media Inc COM 12642x106 2,273 573,913 SH   SOLE   186,558 147,129 240,226
CUMMINS INC COMMON STOCK USD2.5 COM 231021106 572 4,123 SH   SOLE   4,123 0 0
D S T SYSTEMS INC COM 233326107 8,574 77,447 SH   SOLE   67,510 1,007 8,930
Dana Holding Corp COM 235825205 201 9,492 SH   SOLE   9,492 0 0
Deckers Outdoors Corp COM 243537107 99 1,361 SH   SOLE   1,361 0 0
DEERE + CO COMMON STOCK USD1.0 COM 244199105 633 7,218 SH   SOLE   7,218 0 0
Delhaize Le Lion S A Adr COM 29759w101 4,324 193,299 SH   SOLE   31,121 74,782 87,396
DELTA AIR LINES INC COM 247361702 636 14,147 SH   SOLE   14,147 0 0
DENBURY RESOURCES INC COMMON STOCK USD.001 COM 247916208 5,230 717,467 SH   SOLE   620,362 17,115 79,990
Deutsche Bank AG REG COM D18190898 2,570 73,997 SH   SOLE   21,640 52,357 0
DEVON ENERGY CP NEW COM 25179m103 2,731 45,279 SH   SOLE   40,278 4,830 171
DEVRY INC DEL COM 251893103 4,334 129,922 SH   SOLE   113,430 1,792 14,700
DISCOVER FINANCIAL SERVICES COMMON STOCK U COM 254709108 547 9,711 SH   SOLE   9,711 0 0
DISNEY WALT CO COM 254687106 49 470 SH   SOLE   470 0 0
Donnelley (R R) & Sons Co COM 257867101 11,165 581,815 SH   SOLE   512,763 7,042 62,010
DUKE REALTY CORP REIT USD.01 COM 264411505 193 8,856 SH   SOLE   1,540 7,316 0
E M C Corp. COM 268648102 523 20,448 SH   SOLE   20,448 0 0
Eastman Chemical Co COM 277432100 251 3,617 SH   SOLE   3,617 0 0
Eaton Corporation PLC Ordinary COM G29183103 136 2,000 SH   SOLE   2,000 0 0
EDISON INTERNATIONAL COMMON STOCK NPV COM 281020107 569 9,116 SH   SOLE   9,116 0 0
ELI LILLY & CO COM 532457108 65 900 SH   SOLE   900 0 0
EMCOR GROUP INC COM 29084Q100 6,088 131,012 SH   SOLE   114,855 1,442 14,715
EMERSON ELECTRIC CO COM 291011104 588 10,379 SH   SOLE   10,379 0 0
Encana Corp COM 292505104 15 1,343 SH   SOLE   1,343 0 0
ENDURANCE SPECALTY HLDGF COM G30397106 8,932 146,095 SH   SOLE   127,509 1,883 16,703
ENERGIZER HOLDINGS INC COMMON STOCK USD.01 COM 29266R108 224 1,621 SH   SOLE   290 1,331 0
ENERSYS COM 29275Y102 6,954 108,254 SH   SOLE   94,415 1,304 12,535
Eni S P A Sponsored ADR COM 26874r108 51 1,484 SH   SOLE   1,484 0 0
ENSCO PLC SPON ADR ADR USD.1 COM g3157s106 17 822 SH   SOLE   822 0 0
Entergy Corp COM 29364G103 53 685 SH   SOLE   685 0 0
Everest Reins Hldgs COM g3223r108 41 234 SH   SOLE   234 0 0
EXELON CORP COMMON STOCK NPV COM 30161N101 531 15,809 SH   SOLE   15,809 0 0
EXXON MOBIL CORP COMMON STOCK NPV COM 30231G102 559 6,571 SH   SOLE   6,571 0 0
FEDERATED INVESTORS INC CL B COMMON STOCK COM 314211103 5,165 152,415 SH   SOLE   132,468 1,798 18,149
FEDEX CORPORATION COM 31428x106 132 800 SH   SOLE   800 0 0
FIFTH THIRD BANCORP COM 316773100 2,217 117,616 SH   SOLE   105,780 11,420 416
First Horizon National Corp COM 320517105 10,467 732,463 SH   SOLE   639,195 9,613 83,655
First Midwest Bancorp, Inc. COM 320867104 5,085 292,718 SH   SOLE   256,695 3,413 32,610
First Niagara Financial Group COM 33582V108 12,401 1,402,842 SH   SOLE   1,236,980 16,116 149,746
FIRSTMERIT CORP COM 337915102 10,221 536,253 SH   SOLE   468,073 6,233 61,947
Flextronics Intl. Ltd. COM y2573f102 34 2,668 SH   SOLE   2,668 0 0
FLUOR CORP COMMON STOCK USD.01 COM 343412102 205 3,592 SH   SOLE   3,592 0 0
Ford Motor Co COM 345370860 2,415 149,601 SH   SOLE   134,501 14,573 527
Foster (LB) Co. - Class A COM 350060109 1,950 41,072 SH   SOLE   36,055 417 4,600
Franklin Resources COM 354613101 520 10,139 SH   SOLE   10,139 0 0
FREEPORT MCMORAN COPPER COMMON STOCK USD.1 COM 35671D857 1,562 82,402 SH   SOLE   72,323 9,731 348
FRONTIER COMMUNICATIONS CORP COM 35906a108 3 468 SH   SOLE   468 0 0
FULTON FINANCIAL CORP COM 360271100 10,212 827,513 SH   SOLE   724,920 10,053 92,540
GAMESTOP CORP CLASS A COMMON STOCK USD.001 COM 36467W109 178 4,686 SH   SOLE   4,686 0 0
GANNETT CO COMMON STOCK USD1.0 COM 364730101 308 8,304 SH   SOLE   8,304 0 0
Gap Inc. Co. COM 364760108 628 14,489 SH   SOLE   14,489 0 0
GENERAL ELECTRIC COMPANY COM 369604103 1,897 76,446 SH   SOLE   67,523 8,617 306
General Motors COM 37045V100 733 19,541 SH   SOLE   19,541 0 0
Gilead Sciences, Inc. COM 375558103 548 5,580 SH   SOLE   5,580 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 2,428 12,918 SH   SOLE   11,600 1,273 45
GOODYEAR TIRE + RUBBER CO COMMON STOCK NPV COM 382550101 270 9,988 SH   SOLE   9,988 0 0
Gran Tierra Energy Inc. COM 38500T101 3,051 1,117,561 SH   SOLE   973,920 13,821 129,820
HALLIBURTON CO COMMON STOCK USD2.5 COM 406216101 1,704 38,829 SH   SOLE   35,923 2,805 101
Hancock Hldg Co Com COM 410120109 10,291 344,646 SH   SOLE   302,660 4,126 37,860
HANOVER INSURANCE GROUP COM 410867105 14,023 193,207 SH   SOLE   169,400 2,307 21,500
HARRIS CORP COMMON STOCK USD1.0 COM 413875105 233 2,953 SH   SOLE   520 2,433 0
HARTFORD FINL SVCS GRP COM 416515104 3,046 72,827 SH   SOLE   60,920 11,666 241
HCA Holdings Inc COM 40412C101 2,179 28,963 SH   SOLE   25,296 3,540 127
HCC INSURANCE HOLDINGS INC COMMON STOCK US COM 404132102 221 3,894 SH   SOLE   3,894 0 0
HELEN OF TROY LTD F COM G4388N106 12,756 156,534 SH   SOLE   136,693 1,846 17,995
Helix Energy Group, Inc. COM 42330p107 124 8,321 SH   SOLE   8,321 0 0
Helmerich & Payne Inc Com COM 423452101 235 3,447 SH   SOLE   3,447 0 0
HEWLETT PACKARD CO COMMON STOCK USD.01 COM 428236103 2,055 65,946 SH   SOLE   58,862 6,840 244
Hillenbrand Inc COM 431571108 4,994 161,790 SH   SOLE   142,049 1,694 18,047
Hill-Rom Holdings Inc COM 431475102 10,197 208,099 SH   SOLE   181,747 2,554 23,798
HOLLYFRONTIER CORP COM 436106108 1,041 25,857 SH   SOLE   21,460 4,237 160
Home Loan Servicing Solutions COM G6648D109 8,486 513,057 SH   SOLE   448,060 6,552 58,445
Honda Motor Co LTD COM 438128308 49 1,499 SH   SOLE   1,499 0 0
HOSPITALITY PPTYS TRUST BENEFICIAL INTERES COM 44106M102 7,056 213,889 SH   SOLE   182,630 7,682 23,577
HSBC Hldgs PLC Spons-ADR COM 404280406 3,997 93,850 SH   SOLE   15,148 34,255 44,447
Huntington Bancshares In COM 446150104 62 5,568 SH   SOLE   5,568 0 0
HUNTINGTON INGALLS INDUSTRIE COM 446413106 19 133 SH   SOLE   133 0 0
Huntsman Corp COM 447011107 181 8,161 SH   SOLE   1,430 6,731 0
Hyster-Yale Materials Class A COM 449172105 4,859 66,297 SH   SOLE   57,971 805 7,521
ICONIX BRAND GROUP INC COM 451055107 128 3,795 SH   SOLE   3,795 0 0
IDACORP INCORPORATED COM 451107106 13,307 211,659 SH   SOLE   185,040 2,454 24,165
Info Systems Tech LTD ADR COM 456788108 4,060 115,736 SH   SOLE   18,371 43,880 53,485
ING GP NV SPSD ADR COM 456837103 4,985 341,171 SH   SOLE   51,531 127,454 162,186
Ingram Micro Inc COM 457153104 8,570 341,160 SH   SOLE   292,447 4,491 44,222
Integra Hldgs Corp. COM 457985208 8,365 135,688 SH   SOLE   118,740 1,663 15,285
Integrated Silic Soltn Com COM 45812P107 2,592 144,894 SH   SOLE   126,910 1,694 16,290
Intel Corp COM 458140100 538 17,211 SH   SOLE   17,211 0 0
International Bncshrs Com COM 459044103 5,906 226,878 SH   SOLE   199,508 2,837 24,533
INTL BUSINESS MACHINES CORP COMMON STOCK U COM 459200101 2,136 13,311 SH   SOLE   12,021 1,245 45
INTL GAME TECHNOLOGY COMMON STOCK USD.0001 COM 459902102 198 11,382 SH   SOLE   1,990 9,392 0
Invesco Ltd COM g491bt108 193 4,875 SH   SOLE   860 4,015 0
Ishares Tr Russell 2000 COM 464287655 129 1,036 SH   SOLE   1,036 0 0
ITAU UNIBANCO HLDNG-PREF ADR COM 465562106 3,637 328,806 SH   SOLE   55,171 118,849 154,786
ITRON INC COM 465741106 5,119 140,216 SH   SOLE   122,121 1,660 16,435
IXYS Corporation COM 46600W106 2,113 171,477 SH   SOLE   150,200 2,017 19,260
JABIL CIRCUIT INC COM 466313103 406 17,347 SH   SOLE   17,347 0 0
Janus Capital Group, Inc. COM 47102x105 5,878 341,944 SH   SOLE   281,350 3,684 56,910
Johnson Controls Inc. COM 478366107 574 11,384 SH   SOLE   11,384 0 0
JPMORGAN CHASE & CO COM 46625h100 2,539 41,906 SH   SOLE   37,865 3,903 138
KB Financial Group Inc-ADR COM 48241a105 4,445 126,497 SH   SOLE   20,985 47,084 58,428
KB Home Com COM 48666K109 5,549 355,257 SH   SOLE   310,640 4,547 40,070
KBR Inc. COM 48242W106 76 5,216 SH   SOLE   910 4,306 0
Keycorp COM 493267108 2,297 162,216 SH   SOLE   132,547 29,066 603
KINROSS GOLD CORP COM 496902404 1,253 559,152 SH   SOLE   83,649 194,887 280,616
Kohls Corp. COM 500255104 1,837 23,478 SH   SOLE   18,532 4,856 90
KOREA ELEC POWER SPN ADR COM 500631106 34 1,643 SH   SOLE   1,643 0 0
Kulicke & Soffa Industries COM 501242101 10,284 657,943 SH   SOLE   574,260 8,470 75,213
L 3 COMMUNICATIONS HLDGS INC COMMON STOCK COM 502424104 1,909 15,178 SH   SOLE   11,530 3,566 82
Lear Corp. COM 521865204 317 2,861 SH   SOLE   983 1,878 0
LEXMARK INTL INC CL A CLASS A COM 529771107 4,900 115,735 SH   SOLE   101,555 1,430 12,750
LIFETIME FITNESS COM 53217R207 11,101 156,441 SH   SOLE   136,520 2,061 17,860
LINCOLN NATIONAL CORP COMMON STOCK NPV COM 534187109 499 8,678 SH   SOLE   5,374 3,304 0
LORILLARD INC COMMON STOCK USD.01 COM 544147101 146 2,232 SH   SOLE   400 1,832 0
LOWES COMPANIES INC COM 548661107 268 3,600 SH   SOLE   3,600 0 0
LYONDELLBASELL INDU-CL A COM N53745100 1,013 11,542 SH   SOLE   11,542 0 0
MACERICH CO COM 554382101 214 2,541 SH   SOLE   2,541 0 0
MACK CALI REALTY CORP REIT USD.01 COM 554489104 9,605 498,170 SH   SOLE   438,807 2,770 56,593
Macy's Inc. COM 55616p104 597 9,199 SH   SOLE   9,199 0 0
Magna International CL A VTG COM 559222401 21 390 SH   SOLE   390 0 0
MARATHON OIL CORP COM 565849106 620 23,745 SH   SOLE   20,062 3,683 0
Marathon Petroleum Corp COM 56585a102 683 6,671 SH   SOLE   6,671 0 0
Marvell Technology Group Ltd COM G5876H105 4,461 303,494 SH   SOLE   74,947 109,493 119,054
Matthews International Corp COM 577128101 4,185 81,247 SH   SOLE   71,330 1,032 8,885
MEDICAL PROPERTIES TRUST REIT COM 58463J304 9,917 672,805 SH   SOLE   588,660 8,005 76,140
Mentor Graphics Corp COM 587200106 12,075 502,509 SH   SOLE   438,770 5,944 57,795
MEREDITH CORP COM 589433101 9,445 169,348 SH   SOLE   147,784 2,218 19,346
Meritage Corp. COM 59001A102 162 3,329 SH   SOLE   3,329 0 0
METHANEX CORP COM COM 59151K108 22 417 SH   SOLE   417 0 0
METLIFE INC COMMON STOCK USD.01 COM 59156R108 2,209 43,692 SH   SOLE   39,320 4,219 153
MICRON TECHNOLOGY INC COMMON STOCK USD.1 COM 595112103 2,205 81,267 SH   SOLE   72,751 8,217 299
MICROSEMI CORPORATION COM 595137100 13,795 389,676 SH   SOLE   340,205 4,926 44,545
MICROSOFT CORP COM 594918104 1,321 32,502 SH   SOLE   26,737 5,563 202
Mitsubishi UFJ Financial Group Inc. ADS COM 606822104 4,739 761,884 SH   SOLE   129,600 277,897 354,387
Mizuho Finl Group Inc. COM 60687Y109 47 13,279 SH   SOLE   13,279 0 0
Mobile TeleSystems OJSC ADR COM 607409109 17 1,720 SH   SOLE   1,720 0 0
MOLSON COOR BREW CO CL B COM 60871r209 184 2,476 SH   SOLE   440 2,036 0
MONTPELIER RE HLDGS LTD COM G62185106 6,866 178,628 SH   SOLE   157,000 1,853 19,775
MURPHY OIL CORP COMMON STOCK USD1.0 COM 626717102 172 3,698 SH   SOLE   1,604 2,094 0
Nabors Industries Ltd. COM G6359F103 381 27,888 SH   SOLE   27,888 0 0
NASDAQ OMX GROUP/THE COMMON STOCK USD.01 COM 631103108 268 5,252 SH   SOLE   910 4,342 0
NATIONAL OILWELL VARCO INC COMMON STOCK US COM 637071101 442 8,842 SH   SOLE   8,842 0 0
NBT Bancorp COM 628778102 2,752 109,831 SH   SOLE   96,300 1,198 12,333
NCR Corp COM 62886E108 345 11,692 SH   SOLE   7,941 3,751 0
NELNET INC CL A COM 64031N108 3,843 81,208 SH   SOLE   71,072 931 9,205
NETAPP INC COM 64110D104 350 9,865 SH   SOLE   6,249 3,616 0
NETGEAR INC. COM 64111Q104 2,370 72,078 SH   SOLE   62,940 968 8,170
Neustar Inc. Class A COM 64126X201 117 4,757 SH   SOLE   4,757 0 0
NEWMONT MINING CORP COM 651639106 879 40,479 SH   SOLE   35,524 4,782 173
Nippon Teleg Adr COM 654624105 4,317 140,084 SH   SOLE   23,777 52,675 63,632
Nomura Hldg Inc Spons- ADR COM 65535H208 4,681 797,488 SH   SOLE   129,829 294,049 373,610
NORFOLK SOUTHERN CORP COMMON STOCK USD1.0 COM 655844108 186 1,805 SH   SOLE   310 1,495 0
OCCIDENTAL PETE CORP COM 674599105 585 8,009 SH   SOLE   8,009 0 0
Oceaneering Intl Inc. COM 675232102 214 3,971 SH   SOLE   3,971 0 0
Oil States International Inc COM 678026105 91 2,294 SH   SOLE   2,294 0 0
OLD NATIONAL BANCORP COM 680033107 9,417 663,615 SH   SOLE   581,590 7,625 74,400
Olin Corp COM 680665205 6,887 214,955 SH   SOLE   187,670 2,785 24,500
Oracle Corp COM 68389X105 714 16,557 SH   SOLE   16,557 0 0
ORIX SPONSORED ADR COM 686330101 49 690 SH   SOLE   690 0 0
Oshkosh Truck Corp. COM 688239201 146 3,002 SH   SOLE   530 2,472 0
OWENS &MINOR INC HLDG CO COM 690732102 7,943 234,729 SH   SOLE   205,298 2,587 26,844
OWENS ILLINOIS INC COMMON STOCK USD.01 COM 690768403 335 14,344 SH   SOLE   9,139 5,205 0
PAN AMERICAN SILVER CP F COM 697900108 2,790 318,140 SH   SOLE   277,630 3,428 37,082
PartnerRe Ltd. COM G6852T105 219 1,918 SH   SOLE   619 1,299 0
Pennsylvania Rl Est Tr Sh Ben Int COM 709102107 9,967 429,066 SH   SOLE   376,795 4,861 47,410
PETROCHINA CO LTD SP ADR COM 71646E100 52 469 SH   SOLE   469 0 0
Petroleo Brasileiro S/A COM 71654v408 10 1,734 SH   SOLE   1,734 0 0
PFIZER INCORPORATED COM 717081103 877 25,202 SH   SOLE   25,202 0 0
PHILIP MORRIS INTL INC COM 718172109 87 1,150 SH   SOLE   1,150 0 0
Phillips 66 COM 718546104 2,182 27,756 SH   SOLE   24,433 3,208 115
Pilgrims Pride Corp COM 72147K108 40 1,786 SH   SOLE   1,786 0 0
PITNEY BOWES INC COM 724479100 197 8,467 SH   SOLE   8,467 0 0
PLANTRONICS INC COM 727493108 13,443 253,880 SH   SOLE   224,480 1,260 28,140
PNC FINL SERVICES GP INC COM 693475105 2,743 29,422 SH   SOLE   26,365 2,951 106
Portland General Electric COM 736508847 13,025 351,171 SH   SOLE   309,410 1,972 39,789
PPL CORPORATION COMMON STOCK USD.01 COM 69351T106 711 21,119 SH   SOLE   17,017 4,102 0
PRINCIPAL FINANCIAL GROUP COMMON STOCK USD COM 74251V102 253 4,930 SH   SOLE   4,930 0 0
Prospect Capital Corp. COM 74348T102 2,050 242,643 SH   SOLE   204,315 1,610 36,718
Prosperity Bancshares Inc. COM 743606105 5,961 113,593 SH   SOLE   96,926 470 16,197
PRUDENTIAL FINANCIAL INC COMMON STOCK USD. COM 744320102 1,967 24,491 SH   SOLE   21,467 2,919 105
PUBLIC SERVICE ENTERPRISE GP COMMON STOCK COM 744573106 590 14,064 SH   SOLE   14,064 0 0
Qlogic Corp. COM 747277101 12,805 868,715 SH   SOLE   762,990 4,260 101,465
QUALCOMM INC COMMON STOCK USD.0001 COM 747525103 1,774 25,591 SH   SOLE   22,416 3,065 110
QUANTA SERVICES INC COMMON STOCK USD1E 05. COM 74762E102 940 32,955 SH   SOLE   28,483 4,316 156
Quest Diagnostics Inc. COM 74834L100 1,656 21,554 SH   SOLE   18,816 2,644 94
Rait Financial Trust COM 749227609 7,851 1,144,480 SH   SOLE   1,006,857 5,840 131,783
RAYTHEON COMPANY COMMON STOCK USD.01 COM 755111507 598 5,470 SH   SOLE   5,470 0 0
Regal Beloit Corp. COM 758750103 6,798 85,063 SH   SOLE   73,920 1,543 9,600
Regions Financial Corp. New COM 7591ep100 427 45,226 SH   SOLE   28,964 16,262 0
Reinsurance Group Of America Inc COM 759351604 285 3,061 SH   SOLE   3,061 0 0
RELIANCE STEEL + ALUMINUM COMMON STOCK NPV COM 759509102 198 3,249 SH   SOLE   3,249 0 0
REYNOLDS AMERICAN INC COM 761713106 179 2,600 SH   SOLE   2,600 0 0
RIO Tinto PLC, Spon ADR COM 767204100 24 583 SH   SOLE   583 0 0
Rock-Tenn COM 772739207 168 2,612 SH   SOLE   450 2,162 0
Rosetta Resources Inc COM 777779307 118 6,911 SH   SOLE   6,911 0 0
ROVI CORP COM 779376102 1,930 106,010 SH   SOLE   93,230 690 12,090
Royal Bank of Canada COM 780087102 18 295 SH   SOLE   295 0 0
ROYAL DUTCH SHELL PLC ADR ADR COM 780259206 3,888 65,188 SH   SOLE   10,595 23,811 30,782
RYDER SYSTEM INC COM 783549108 188 1,986 SH   SOLE   350 1,636 0
SANDERSON FARMS INC COMMON STOCK USD1.0 COM 800013104 115 1,439 SH   SOLE   1,439 0 0
Sandisk Corp. COM 80004C101 671 10,548 SH   SOLE   8,580 1,900 68
Sanmina Corp COM 801056102 7,053 299,766 SH   SOLE   262,894 2,802 34,070
Sanofi-ADR COM 80105N105 54 1,102 SH   SOLE   1,102 0 0
Schulman A Inc Com COM 808194104 4,264 105,197 SH   SOLE   92,895 927 11,375
SEADRILL LTD COM G7945E105 28 3,026 SH   SOLE   3,026 0 0
SECTOR SPDR FINANCIAL COM 81369y605 174 7,200 SH   SOLE   7,200 0 0
SELECT MEDICAL HOLDINGS CORP COM 81619Q105 10,117 702,539 SH   SOLE   616,155 6,624 79,760
Selective Ins Group Com COM 816300107 137 4,732 SH   SOLE   4,732 0 0
SENIOR HOUSING PROP TRUST REIT USD.01 COM 81721M109 187 8,442 SH   SOLE   1,470 6,972 0
Shaw Communications Inc. B COM 82028k200 4,269 190,334 SH   SOLE   29,966 72,360 88,008
SHINHAN FINANCIAL GP SPN ADR RESTRD COM 824596100 29 777 SH   SOLE   777 0 0
Siemens AG ADR COM 826197501 4,297 39,709 SH   SOLE   6,263 14,882 18,564
SK TELECOM ADR COM 78440P108 4,078 149,889 SH   SOLE   24,746 54,384 70,759
SM ENERGY CO COM 78454L100 130 2,525 SH   SOLE   2,525 0 0
SMITH-NPHW PLC SPADR NEW COM 83175M205 4,014 117,479 SH   SOLE   18,774 43,753 54,952
Southern Copper Corp. COM 84265V105 16 540 SH   SOLE   540 0 0
Southwestern Energy Co COM 845467109 178 7,668 SH   SOLE   7,668 0 0
SPX Corp. COM 784635104 90 1,056 SH   SOLE   180 876 0
St Jude Medical Inc COM 790849103 1,893 28,952 SH   SOLE   24,832 3,977 143
STANCORP FINANCIAL GROUP COMMON STOCK NPV COM 852891100 132 1,926 SH   SOLE   1,926 0 0
STAPLES INC COM 855030102 646 39,640 SH   SOLE   31,865 7,775 0
State Street Corp COM 857477103 552 7,513 SH   SOLE   7,513 0 0
StatoilHydro ASA COM 85771p102 3,072 174,623 SH   SOLE   27,108 60,769 86,746
STEPAN CO COM 858586100 3,836 92,081 SH   SOLE   81,152 0 10,929
SUMITOMO MITSUI-SPONS ADR COM 86562M209 4,731 611,193 SH   SOLE   99,794 225,242 286,157
Sun Life Financial Inc. COM 866796105 18 570 SH   SOLE   570 0 0
Suncor Energy Inc. COM 867224107 3,992 136,489 SH   SOLE   22,141 50,380 63,968
SUNTRUST BANKS INC COM 867914103 2,665 64,862 SH   SOLE   54,995 9,653 214
Sykes Enterprises Inc Com COM 871237103 4,170 177,661 SH   SOLE   155,679 1,712 20,270
SYMANTEC CORP COMMON STOCK USD.01 COM 871503108 1,132 48,453 SH   SOLE   40,658 7,795 0
SYMETRA FINANCIAL CORP COM 87151q106 7,120 308,905 SH   SOLE   272,140 2,380 34,385
Synnex Corp. COM 87162w100 130 1,679 SH   SOLE   1,679 0 0
SYNOPSYS INC COMMON STOCK USD.01 COM 871607107 189 4,085 SH   SOLE   710 3,375 0
TATA MTRS LTD SPONSORED ADR COM 876568502 4,397 97,584 SH   SOLE   15,058 34,645 47,881
Taubman Ctrs Inc Com COM 876664103 201 2,608 SH   SOLE   2,608 0 0
TCF Financial Corp. Com COM 872275102 5,599 352,334 SH   SOLE   309,634 3,253 39,447
Tech Data Corp. COM 878237106 6,255 98,928 SH   SOLE   86,980 880 11,068
Teco Energy COM 872375100 72 3,518 SH   SOLE   0 3,518 0
TELECOM ITALIA S P A NEW COM 87927Y102 60 5,148 SH   SOLE   5,148 0 0
Telefonica SA Spain ADR COM 879382208 4,416 307,729 SH   SOLE   47,821 108,554 151,354
Terex Corp New Com COM 880779103 128 4,831 SH   SOLE   4,831 0 0
TESORO CORPORATION COM 881609101 253 2,768 SH   SOLE   2,768 0 0
Teva Pharmaceutical Industries Ltd. COM 881624209 6,238 100,133 SH   SOLE   33,803 32,420 33,910
THERMO FISHER SCIENTIFIC INC COMMON STOCK COM 883556102 2,053 15,282 SH   SOLE   13,129 2,079 74
TIDEWATER INC COMMON STOCK USD.1 COM 886423102 66 3,440 SH   SOLE   3,440 0 0
TORCHMARK CORP COMMON STOCK USD1.0 COM 891027104 270 4,916 SH   SOLE   4,916 0 0
Toronto-Dominion Bank COM 891160509 18 424 SH   SOLE   424 0 0
Total SA ADR COM 89151E109 3,930 79,136 SH   SOLE   13,185 29,450 36,501
Toyota Motor Corp. ADR COM 892331307 47 339 SH   SOLE   339 0 0
TRANSOCEAN LTD COM h8817h100 26 1,804 SH   SOLE   1,804 0 0
Travelcenters of America COM 894174101 1,344 106,503 SH   SOLE   93,210 1,273 12,020
TRAVELERS COS INC/THE COMMON STOCK NPV COM 89417E109 661 6,111 SH   SOLE   6,111 0 0
Trinity Industries COM 896522109 580 16,345 SH   SOLE   16,345 0 0
TRIPLE-S MANAGEMENT CORP-B COM 896749108 3,549 148,437 SH   SOLE   129,875 1,340 17,222
Triumph Group Inc New Com COM 896818101 9,295 155,647 SH   SOLE   135,771 3,496 16,380
Trustmark Corp. COM 898402102 137 5,636 SH   SOLE   5,636 0 0
Turkcell iletism adr COM 900111204 14 1,106 SH   SOLE   1,106 0 0
TUTOR PERINI CORP COM 901109108 9,659 401,282 SH   SOLE   351,855 3,927 45,500
Two Harbors Investment Corp COM 90187B101 185 17,456 SH   SOLE   3,040 14,416 0
U S BANCORP DEL NEW COM 902973304 612 14,024 SH   SOLE   14,024 0 0
Ultra Petroleum Corp COM 903914109 6,794 516,250 SH   SOLE   451,380 5,245 59,625
Umpqua Holdings Corp. COM 904214103 4,309 253,326 SH   SOLE   220,890 2,621 29,815
Unit Corp COM 909218109 45 1,316 SH   SOLE   0 1,316 0
United States Steel Corp. COM 912909108 262 10,748 SH   SOLE   6,780 3,968 0
United Stationers Inc Com COM 913004107 132 3,229 SH   SOLE   3,229 0 0
UNITED TECHNOLOGIES CORP COM 913017109 141 1,200 SH   SOLE   1,200 0 0
UNITEDHEALTH GROUP INC COM 91324p102 568 4,800 SH   SOLE   4,800 0 0
Universal Fst Prods Com COM 913543104 4,894 88,210 SH   SOLE   77,580 550 10,080
UNUM GROUP COMMON STOCK USD.1 COM 91529Y106 445 13,188 SH   SOLE   8,569 4,619 0
VALERO ENERGY CORP NEW COM 91913y100 3,344 52,564 SH   SOLE   44,437 7,956 171
VERIZON COMMUNICATIONS COM 92343v104 1,663 34,194 SH   SOLE   30,389 3,673 132
Viacom Inc - Class B COM 92553P201 2,048 29,985 SH   SOLE   27,179 2,708 98
Vishay Intertech COM 928298108 11,548 835,635 SH   SOLE   724,437 18,298 92,900
WASHINGTON FEDERAL INC SEATTLE COM 938824109 10,059 454,119 SH   SOLE   397,550 4,279 52,290
WASTE MANAGEMENT INC COM 94106l109 201 3,708 SH   SOLE   650 3,058 0
Webster Finl Corp Waterbury COM 947890109 7,313 224,815 SH   SOLE   197,594 2,011 25,210
WELLS FARGO & CO NEW COM 949746101 2,649 48,703 SH   SOLE   43,913 4,622 168
WesBanco Inc. COM 950810101 3,473 99,798 SH   SOLE   87,022 365 12,411
WESTERN DIGITAL CORP COMMON STOCK USD.01 COM 958102105 569 6,248 SH   SOLE   6,248 0 0
Western Refining Inc. COM 959319104 242 4,908 SH   SOLE   4,908 0 0
WESTERN UN CO COM 959802109 727 34,941 SH   SOLE   34,941 0 0
Wiley John & Sons CL A COM 968223206 4,355 73,508 SH   SOLE   64,136 892 8,480
Wintrust Finl Corp Com COM 97650W108 10,709 229,029 SH   SOLE   200,682 2,197 26,150
WOLVERINE WORLD WIDE INC COM 978097103 222 6,650 SH   SOLE   1,170 5,480 0
Worthington Industries Inc COM 981811102 173 5,734 SH   SOLE   4,961 773 0
XEROX CORP COMMON STOCK USD1.0 COM 984121103 253 19,687 SH   SOLE   19,687 0 0
XL GROUP PLC COMMON STOCK USD.01 COM G98290102 13 341 SH   SOLE   341 0 0
YAMANA GOLD INC COM 98462y100 2,524 703,164 SH   SOLE   243,491 202,304 257,369
ZIMMER HOLDINGS INC COM 98956p102 33 280 SH   SOLE   280 0 0