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 10,287 322,775 SH   SOLE   284,749 3,885 34,141
Aarons Inc COM 002535300 14,606 403,356 SH   SOLE   354,990 4,681 43,685
ABB LTD SPON ADR COM 000375204 3,842 184,021 SH   SOLE   38,499 61,198 84,324
AbbVie INC COM 00287y109 1,901 28,292 SH   SOLE   25,413 2,823 56
ABM INDUSTRIES INC COM 000957100 8,793 267,520 SH   SOLE   236,895 2,915 27,710
Ace Limited COM H0023R105 623 6,127 SH   SOLE   6,127 0 0
AECOM TECH CORP DEL COM COM 00766T100 226 6,823 SH   SOLE   6,823 0 0
Aegion Corp COM 00770f104 4,033 212,922 SH   SOLE   187,035 2,244 23,643
Aegon Nv COM 007924103 4,055 547,951 SH   SOLE   112,693 174,930 260,328
AES CORP COMMON STOCK USD.01 COM 00130H105 289 21,786 SH   SOLE   21,786 0 0
AETNA INC NEW COM 00817y108 988 7,752 SH   SOLE   7,752 0 0
AFLAC INC COMMON STOCK USD.1 COM 001055102 2,382 38,290 SH   SOLE   34,755 3,467 68
AGRIUM INC COMMON STOCK NPV COM 008916108 4,266 40,268 SH   SOLE   11,543 13,404 15,321
AIRCASTLE LTD COM G0129k104 11,981 528,493 SH   SOLE   465,199 6,948 56,346
Alaska Air Group Inc. COM 011659109 237 3,682 SH   SOLE   3,682 0 0
Albemarle Corp. COM 012653101 222 4,015 SH   SOLE   4,015 0 0
Alcoa Inc COM 013817101 281 25,188 SH   SOLE   25,188 0 0
ALLETE INC NEW COM 018522300 8,838 190,508 SH   SOLE   167,900 2,448 20,160
ALLIED WORLD ASSUR NEW F COM H01531104 10,799 249,854 SH   SOLE   240,442 3,766 5,646
ALLSTATE CORPORATION COM 020002101 2,188 33,726 SH   SOLE   27,859 5,797 70
ALTRIA GROUP INC COM 02209s103 418 8,550 SH   SOLE   8,550 0 0
America Movil-ADR Series L COM 02364w105 3,778 177,299 SH   SOLE   38,633 58,398 80,268
AMERICAN AIRLINES GROUP INC> COM 02376R102 1,449 36,280 SH   SOLE   31,893 4,301 86
American Axle & Mfg Hldgs COM 024061103 11,737 561,290 SH   SOLE   494,836 7,407 59,047
American Equity Investment Lif COM 025676206 137 5,068 SH   SOLE   5,068 0 0
AMERICAN EXPRESS COMPANY COM 025816109 636 8,188 SH   SOLE   8,188 0 0
American Financial Group Inc. COM 025932104 233 3,584 SH   SOLE   3,584 0 0
American International Group COM 026874784 760 12,289 SH   SOLE   12,289 0 0
AMERIPRISE FINANCIAL INC COMMO COM 03076C106 852 6,817 SH   SOLE   5,469 1,348 0
AMN ELEC POWER CO COM 025537101 818 15,441 SH   SOLE   12,737 2,704 0
ANADARKO PETROLEUM CORP COM 032511107 207 2,650 SH   SOLE   2,650 0 0
ANDERSONS INC/THE COM 034164103 143 3,658 SH   SOLE   3,658 0 0
ANIXTER INTL INC COM 035290105 147 2,261 SH   SOLE   2,261 0 0
APACHE CORP COM 037411105 78 1,350 SH   SOLE   1,350 0 0
APOLLO RESIDENTIAL MORTGAGE COM 03763V102 4,913 334,466 SH   SOLE   294,580 4,166 35,720
Apple Computer COM 037833100 2,563 20,437 SH   SOLE   18,400 1,996 41
Arch Capital Group Ltd COM g0450a105 47 706 SH   SOLE   706 0 0
ARCHER DANIELS MIDLAND CO COMM COM 039483102 654 13,562 SH   SOLE   13,562 0 0
ARRIS GROUP INC COMMON STOCK U COM 04270V106 4,153 135,705 SH   SOLE   119,477 1,897 14,331
ARROW ELECTRONICS INC COMMON S COM 042735100 403 7,222 SH   SOLE   4,431 2,791 0
Ashford Hospitality Prime, Inc COM 044102101 2,752 183,205 SH   SOLE   161,204 2,025 19,976
Ashford Hospitality Trust COM 044103109 5,598 661,679 SH   SOLE   582,870 8,356 70,453
ASPEN INSURANCE HOLDINGF COM G05384105 12,579 262,606 SH   SOLE   232,305 3,136 27,165
Associated Banc-Corp COM 045487105 16,622 820,018 SH   SOLE   721,400 10,123 88,495
ASSURANT INC COMMON STOCK USD. COM 04621X108 256 3,823 SH   SOLE   3,823 0 0
AT& T INC COM 00206r102 2,588 72,852 SH   SOLE   65,913 6,802 137
Atlas Air Worldwide COM 049164205 151 2,740 SH   SOLE   2,740 0 0
ATWOOD OCEANICS INC COM 050095108 7,265 274,778 SH   SOLE   242,370 3,344 29,064
Avista Corp. COM 05379B107 134 4,365 SH   SOLE   4,365 0 0
AVIVA PLC-SPON ADR COM 05382A104 27 1,726 SH   SOLE   1,726 0 0
Avnet Inc Com COM 053807103 271 6,600 SH   SOLE   6,600 0 0
AVX Corp. COM 002444107 2,545 189,078 SH   SOLE   166,540 2,388 20,150
AXIS CAPITAL HOLDINGS LTD COMM COM G0692U109 207 3,887 SH   SOLE   670 3,217 0
Banco Bilbao Vizcaya - ADR COM 05946K101 4,109 416,345 SH   SOLE   88,387 141,791 186,167
BANCO SANT SA ADR COM 05964H105 3,993 569,614 SH   SOLE   125,465 190,517 253,632
BANCO SANTANDER BRASIL-ADS COM 05967a107 15 2,829 SH   SOLE   2,829 0 0
BANK OF AMERICA CORP COM 060505104 1,899 111,555 SH   SOLE   97,210 14,061 284
Bank of Montreal COM 063671101 17 295 SH   SOLE   295 0 0
Bank Of New York Mellon Corp. COM 064058100 2,022 48,186 SH   SOLE   41,798 6,262 126
Bank of Nova Scotia COM 064149107 18 349 SH   SOLE   349 0 0
Barclays PLC- ADR COM 06738E204 2,730 166,067 SH   SOLE   52,748 0 113,319
BARNES GROUP INC COM 067806109 12,888 330,535 SH   SOLE   291,561 3,982 34,992
Baxter International Inc COM 071813109 652 9,319 SH   SOLE   9,319 0 0
BB+T CORP COMMON STOCK USD5.0 COM 054937107 2,096 52,001 SH   SOLE   46,194 5,692 115
Bed Bath & Beyond Inc. COM 075896100 200 2,903 SH   SOLE   1,197 1,706 0
Bellatrix Exploration Ltd. COM 078314101 2,413 1,035,649 SH   SOLE   912,090 11,769 111,790
BEST BUY CO INC COM 086516101 406 12,464 SH   SOLE   12,464 0 0
BHP BILLITON LTD ADR F SPONSOR COM 088606108 3,965 97,391 SH   SOLE   34,010 29,065 34,316
BIG 5 SPORTING CORP COM 08915P101 2,367 166,558 SH   SOLE   146,590 2,238 17,730
BIG LOTS INC COMMON STOCK USD. COM 089302103 4,401 97,811 SH   SOLE   86,145 1,276 10,390
BP PLC ADR F SPONSORED ADR 1 A COM 055622104 4,257 106,527 SH   SOLE   30,556 30,368 45,603
Brady Corp WI CL A COM 104674106 4,407 178,120 SH   SOLE   157,920 2,157 18,043
Brandywine Rlty Tr Sh Ben Int COM 105368203 9,799 737,885 SH   SOLE   654,995 4,070 78,820
BRINKER INTL INC COM 109641100 8,347 144,784 SH   SOLE   125,790 1,994 17,000
BRINKS CO COM 109696104 11,238 381,842 SH   SOLE   337,295 2,842 41,705
Brocade Communications COM 111621306 1,296 109,088 SH   SOLE   72,287 3,893 32,908
BT Group PLC - SPON ADR COM 05577e101 30 424 SH   SOLE   424 0 0
C B L & ASSOC PROPERTIES REIT COM 124830100 7,336 452,852 SH   SOLE   404,930 1,625 46,297
CA INC COMMON STOCK USD.1 COM 12673P105 1,945 66,389 SH   SOLE   54,730 11,525 134
Cabot Corp. COM 127055101 7,422 199,041 SH   SOLE   175,459 2,462 21,120
CALIFORNIA RESOURCES CORP COM 13057Q107 2 280 SH   SOLE   280 0 0
CANADIAN IMPRL BK COMM COM COM 136069101 17 225 SH   SOLE   225 0 0
Canon Inc- ADR COM 138006309 3,891 120,055 SH   SOLE   25,366 40,560 54,129
CAPITAL ONE FINANCIAL CORP COM COM 14040H105 757 8,609 SH   SOLE   8,609 0 0
Capstead Mortgage Cp New COM 14067e506 137 12,352 SH   SOLE   12,352 0 0
CARNIVAL CORP NEW F PAIRED STK COM 143658300 54 1,100 SH   SOLE   1,100 0 0
Celanese Corp. - Series A COM 150870103 60 833 SH   SOLE   833 0 0
CELESTICA SUB VTG SHS COM 15101Q108 4,587 394,055 SH   SOLE   352,881 5,962 35,212
Cemig SA-Spons ADR COM 204409601 2,737 718,358 SH   SOLE   141,483 227,035 349,840
CENTURYLINK INC COMMON STOCK U COM 156700106 660 22,466 SH   SOLE   22,466 0 0
CHARLES RIVER LABORATORIES COM COM 159864107 4,106 58,376 SH   SOLE   51,090 804 6,482
Chemical Financial Corp. COM 163731102 2,951 89,263 SH   SOLE   78,994 1,071 9,198
CHESAPEAKE ENERGY CORP COM 165167107 304 27,193 SH   SOLE   22,382 4,811 0
CHEVRON CORP COM 166764100 691 7,168 SH   SOLE   7,168 0 0
Chicago Bridge & Iron COM 167250109 27 539 SH   SOLE   539 0 0
China Mobile LTD Spn ADR COM 16941m109 3,567 55,657 SH   SOLE   11,881 18,981 24,795
CHIPMOS TECHNOLOGIES BERMUDA COM g2110r114 2,293 105,013 SH   SOLE   92,150 1,423 11,440
CHUBB CORP COM 171232101 756 7,944 SH   SOLE   7,944 0 0
CIA Vale Do Rio Doce - ADR COM 91912e105 2,240 380,277 SH   SOLE   75,732 119,095 185,450
CIGNA CORP COMMON STOCK USD.25 COM 125509109 299 1,847 SH   SOLE   310 1,537 0
Cirrus Logic Inc. COM 172755100 149 4,366 SH   SOLE   4,366 0 0
Cisco Systems Inc. COM 17275R102 2,638 96,066 SH   SOLE   87,281 8,612 173
CITIGROUP INC COM 172967424 2,460 44,539 SH   SOLE   40,545 3,915 79
Clifton Bancorp Inc. COM 186873105 6,620 473,210 SH   SOLE   416,440 5,980 50,790
CNA Financial Corp COM 126117100 51 1,338 SH   SOLE   1,338 0 0
CNOOC LTD ADR COM 126132109 3,845 27,096 SH   SOLE   5,979 8,943 12,174
Coach Inc. COM 189754104 269 7,776 SH   SOLE   7,776 0 0
COEUR D ALENE MINES CORP COMMO COM 192108504 3,813 667,731 SH   SOLE   583,012 8,155 76,564
COMERICA INC COM COM 200340107 204 3,980 SH   SOLE   680 3,300 0
Commercial Metals Co. COM 201723103 146 9,072 SH   SOLE   9,072 0 0
Community Health System New COM 203668108 226 3,589 SH   SOLE   620 2,969 0
Companhia D. Snmnto Bsco COM 20441a102 12 2,223 SH   SOLE   2,223 0 0
COMPUTER SCIENCES CORP COMMON COM 205363104 219 3,337 SH   SOLE   580 2,757 0
CONOCOPHILLIPS COM 20825c104 1,874 30,511 SH   SOLE   26,418 4,014 79
Con-Way Inc COM 205944101 9,011 234,841 SH   SOLE   206,760 3,151 24,930
Cooper Tire And Rubber COM 216831107 7,369 217,826 SH   SOLE   191,765 2,861 23,200
CORNING INC COMMON STOCK USD.5 COM 219350105 2,126 107,764 SH   SOLE   95,434 12,091 239
Corrections Corp Of America COM 22025Y407 185 5,605 SH   SOLE   950 4,655 0
CRANE CO COMMON STOCK USD1.0 COM 224399105 8,166 139,049 SH   SOLE   116,872 4,452 17,725
Credit Suisse Grp Spons- ADR COM 225401108 4,247 153,893 SH   SOLE   32,263 52,230 69,400
CSG Systems Intl COM 126349109 5,304 167,517 SH   SOLE   147,610 1,997 17,910
CST Brands INC COM 12646r105 6 144 SH   SOLE   144 0 0
CSX Corp COM 126408103 1,227 37,580 SH   SOLE   31,247 6,209 124
CTC Media Inc COM 12642x106 865 380,931 SH   SOLE   77,048 115,950 187,933
CUMMINS INC COMMON STOCK USD2. COM 231021106 632 4,815 SH   SOLE   4,815 0 0
D S T SYSTEMS INC COM 233326107 9,773 77,577 SH   SOLE   67,570 1,077 8,930
Dana Holding Corp COM 235825205 143 6,933 SH   SOLE   6,933 0 0
Deckers Outdoors Corp COM 243537107 147 2,043 SH   SOLE   2,043 0 0
Delhaize Le Lion S A Adr COM 29759w101 3,523 170,778 SH   SOLE   37,464 59,826 73,488
DELTA AIR LINES INC COM 247361702 651 15,854 SH   SOLE   15,854 0 0
DENBURY RESOURCES INC COMMON S COM 247916208 4,786 752,516 SH   SOLE   654,480 18,046 79,990
Deutsche Bank AG REG COM D18190898 2,050 67,980 SH   SOLE   26,070 41,910 0
DEVON ENERGY CP NEW COM 25179m103 2,019 33,936 SH   SOLE   29,323 4,523 90
DEVRY INC DEL COM 251893103 4,363 145,534 SH   SOLE   128,694 1,910 14,930
Diodes Inc COM 254543101 3,309 137,260 SH   SOLE   120,880 1,810 14,570
DISCOVER FINANCIAL SERVICES CO COM 254709108 683 11,856 SH   SOLE   11,856 0 0
DISNEY WALT CO COM 254687106 54 470 SH   SOLE   470 0 0
Donnelley (R R) & Sons Co COM 257867101 10,164 583,119 SH   SOLE   512,179 7,960 62,980
DUKE REALTY CORP REIT USD.01 COM 264411505 171 9,184 SH   SOLE   1,560 7,624 0
E M C Corp. COM 268648102 658 24,951 SH   SOLE   24,951 0 0
Eastman Chemical Co COM 277432100 311 3,801 SH   SOLE   3,801 0 0
Eaton Corporation PLC Ordinary COM G29183103 774 11,463 SH   SOLE   11,463 0 0
EDISON INTERNATIONAL COMMON ST COM 281020107 573 10,305 SH   SOLE   10,305 0 0
ELI LILLY & CO COM 532457108 75 900 SH   SOLE   900 0 0
EMCOR GROUP INC COM 29084Q100 6,820 142,761 SH   SOLE   126,185 1,641 14,935
EMERSON ELECTRIC CO COM 291011104 18 325 SH   SOLE   325 0 0
ENDURANCE SPECALTY HLDGF COM G30397106 10,446 158,997 SH   SOLE   140,019 2,015 16,963
Energizer Holdings Inc. COM 29272w109 220 1,670 SH   SOLE   290 1,380 0
ENERSYS COM 29275Y102 8,281 117,813 SH   SOLE   103,685 1,403 12,725
ENSCO PLC SPON ADR ADR USD.1 COM g3157s106 18 822 SH   SOLE   822 0 0
Entergy Corp COM 29364G103 48 685 SH   SOLE   685 0 0
Essendant Inc. COM 296689102 148 3,761 SH   SOLE   3,761 0 0
Everest Reins Hldgs COM g3223r108 43 234 SH   SOLE   234 0 0
EXELON CORP COMMON STOCK NPV COM 30161N101 607 19,317 SH   SOLE   19,317 0 0
EXXON MOBIL CORP COMMON STOCK COM 30231G102 623 7,482 SH   SOLE   7,482 0 0
FEDERATED INVESTORS INC CL B C COM 314211103 5,147 153,674 SH   SOLE   133,328 1,927 18,419
FEDEX CORPORATION COM 31428x106 136 800 SH   SOLE   800 0 0
FIFTH THIRD BANCORP COM 316773100 2,222 106,708 SH   SOLE   87,377 19,111 220
First Horizon National Corp COM 320517105 12,503 797,921 SH   SOLE   702,085 10,841 84,995
First Midwest Bancorp, Inc. COM 320867104 6,052 319,041 SH   SOLE   281,975 3,936 33,130
First Niagara Financial Group COM 33582V108 14,238 1,508,238 SH   SOLE   1,337,477 18,605 152,156
FIRSTENERGY CORP COMMON STOCK COM 337932107 213 6,537 SH   SOLE   6,537 0 0
FIRSTMERIT CORP COM 337915102 12,178 584,639 SH   SOLE   514,223 7,489 62,927
Flextronics Intl. Ltd. COM y2573f102 30 2,668 SH   SOLE   2,668 0 0
FLUOR CORP COMMON STOCK USD.01 COM 343412102 210 3,962 SH   SOLE   3,962 0 0
Ford Motor Co COM 345370860 2,284 152,155 SH   SOLE   138,219 13,660 276
Fossil Inc. Com COM 34988v106 145 2,093 SH   SOLE   2,093 0 0
Foster (LB) Co. - Class A COM 350060109 1,547 44,702 SH   SOLE   39,595 447 4,660
Franklin Resources COM 354613101 669 13,644 SH   SOLE   13,644 0 0
FREEPORT MCMORAN COPPER COMMON COM 35671D857 1,041 55,920 SH   SOLE   46,575 9,163 182
FRONTIER COMMUNICATIONS CORP COM 35906a108 2 468 SH   SOLE   468 0 0
FULTON FINANCIAL CORP COM 360271100 11,778 901,874 SH   SOLE   796,430 11,424 94,020
GAMESTOP CORP CLASS A COMMON S COM 36467W109 252 5,855 SH   SOLE   5,855 0 0
GANNETT CO., Inc (NEW) COM 36473H104 58 4,137 SH   SOLE   4,137 0 0
Gap Inc. Co. COM 364760108 236 6,170 SH   SOLE   6,170 0 0
GATX CORP COM 361448103 139 2,608 SH   SOLE   2,608 0 0
GENERAL ELECTRIC COMPANY COM 369604103 1,371 51,590 SH   SOLE   43,340 8,090 160
General Motors COM 37045V100 648 19,454 SH   SOLE   19,454 0 0
GEO GROUP INC COM 36162J106 8,519 249,388 SH   SOLE   220,166 2,998 26,224
Gilead Sciences, Inc. COM 375558103 1,115 9,525 SH   SOLE   9,525 0 0
Global Brass & Copper Holding COM 37953G103 4,266 250,780 SH   SOLE   220,920 2,855 27,005
GOLDMAN SACHS GROUP INC COM 38141g104 2,647 12,680 SH   SOLE   11,466 1,190 24
GOODYEAR TIRE + RUBBER CO COMM COM 382550101 398 13,207 SH   SOLE   10,161 3,046 0
Gran Tierra Energy Inc. COM 38500T101 3,568 1,197,224 SH   SOLE   1,052,660 14,744 129,820
HALLIBURTON CO COMMON STOCK US COM 406216101 1,023 23,742 SH   SOLE   21,058 2,631 53
HALYARD HEALTH INC. COM 40650V100 141 3,482 SH   SOLE   3,482 0 0
Hancock Hldg Co Com COM 410120109 11,832 370,789 SH   SOLE   327,895 4,434 38,460
HANOVER INSURANCE GROUP COM 410867105 15,578 210,431 SH   SOLE   186,090 2,511 21,830
HARRIS CORP COMMON STOCK USD1. COM 413875105 235 3,054 SH   SOLE   530 2,524 0
HARTFORD FINL SVCS GRP COM 416515104 2,578 62,017 SH   SOLE   51,017 10,873 127
HCA Holdings Inc COM 40412C101 2,571 28,337 SH   SOLE   24,939 3,332 66
HELEN OF TROY LTD F COM G4388N106 10,770 110,472 SH   SOLE   96,893 1,634 11,945
HEWLETT PACKARD CO COMMON STOC COM 428236103 2,166 72,178 SH   SOLE   65,606 6,444 128
Hillenbrand Inc COM 431571108 5,419 176,515 SH   SOLE   156,189 1,999 18,327
Hill-Rom Holdings Inc COM 431475102 9,244 170,143 SH   SOLE   149,707 2,398 18,038
HOLLYFRONTIER CORP COM 436106108 1,139 26,673 SH   SOLE   22,357 4,233 83
Honda Motor Co LTD COM 438128308 49 1,499 SH   SOLE   1,499 0 0
HOSPITALITY PPTYS TRUST BENEFI COM 44106M102 6,181 214,458 SH   SOLE   182,830 8,051 23,577
HSBC Hldgs PLC Spons-ADR COM 404280406 3,789 84,556 SH   SOLE   18,347 27,900 38,309
Huntington Bancshares In COM 446150104 63 5,568 SH   SOLE   5,568 0 0
HUNTINGTON INGALLS INDUSTRIE COM 446413106 15 133 SH   SOLE   133 0 0
Huntsman Corp COM 447011107 186 8,429 SH   SOLE   1,450 6,979 0
Hyster-Yale Materials Class A COM 449172105 5,002 72,193 SH   SOLE   63,641 931 7,621
ICONIX BRAND GROUP INC COM 451055107 139 5,568 SH   SOLE   5,568 0 0
IDACORP INCORPORATED COM 451107106 12,948 230,632 SH   SOLE   203,310 2,777 24,545
Info Systems Tech LTD ADR COM 456788108 3,798 239,646 SH   SOLE   50,738 79,238 109,670
ING GP NV SPSD ADR COM 456837103 4,357 262,775 SH   SOLE   56,738 86,974 119,063
Ingram Micro Inc COM 457153104 8,592 343,258 SH   SOLE   294,201 4,835 44,222
Integra Hldgs Corp. COM 457985208 9,955 147,767 SH   SOLE   130,390 1,852 15,525
Intel Corp COM 458140100 677 22,262 SH   SOLE   22,262 0 0
International Bncshrs Com COM 459044103 6,500 241,920 SH   SOLE   213,973 3,034 24,913
International Paper COM 460146103 615 12,931 SH   SOLE   12,931 0 0
INTL BUSINESS MACHINES CORP CO COM 459200101 2,203 13,545 SH   SOLE   12,355 1,166 24
Invesco Ltd COM g491bt108 189 5,037 SH   SOLE   870 4,167 0
ISHARES DJ US OIL & GAS EXPL COM 464288851 134 1,893 SH   SOLE   1,893 0 0
Ishares Tr Russell 2000 COM 464287655 138 1,104 SH   SOLE   1,104 0 0
ITAU UNIBANCO HLDNG-PREF ADR COM 465562106 3,180 290,398 SH   SOLE   65,230 95,014 130,154
ITRON INC COM 465741106 5,256 152,618 SH   SOLE   134,141 1,782 16,695
IXYS Corporation COM 46600W106 2,857 186,711 SH   SOLE   164,970 2,181 19,560
JABIL CIRCUIT INC COM 466313103 333 15,618 SH   SOLE   15,618 0 0
Janus Capital Group, Inc. COM 47102x105 6,354 371,159 SH   SOLE   309,090 4,299 57,770
Johnson & Johnson COM 478160104 648 6,648 SH   SOLE   6,648 0 0
Johnson Controls Inc. COM 478366107 646 13,033 SH   SOLE   13,033 0 0
JPMORGAN CHASE & CO COM 46625h100 2,840 41,912 SH   SOLE   38,188 3,651 73
KB Financial Group Inc-ADR COM 48241a105 3,675 111,791 SH   SOLE   24,985 37,676 49,130
KB Home Com COM 48666K109 6,321 380,791 SH   SOLE   335,860 4,861 40,070
KBR Inc. COM 48242W106 105 5,399 SH   SOLE   930 4,469 0
Keycorp COM 493267108 2,094 139,419 SH   SOLE   110,623 28,483 313
Keysight Technologies Inc. COM 49338L103 271 8,700 SH   SOLE   7,469 1,231 0
KINROSS GOLD CORP COM 496902404 1,145 493,553 SH   SOLE   99,253 158,338 235,962
Kohls Corp. COM 500255104 1,341 21,414 SH   SOLE   16,894 4,473 47
KOREA ELEC POWER SPN ADR COM 500631106 33 1,643 SH   SOLE   1,643 0 0
Kulicke & Soffa Industries COM 501242101 8,394 716,825 SH   SOLE   630,810 9,602 76,413
L 3 COMMUNICATIONS HLDGS INC C COM 502424104 1,678 14,799 SH   SOLE   11,280 3,476 43
Laboratory Corp. Of America Ho COM 50540r409 724 5,976 SH   SOLE   5,976 0 0
Lear Corp. COM 521865204 290 2,579 SH   SOLE   856 1,723 0
LEXMARK INTL INC CL A CLASS A COM 529771107 9,625 217,767 SH   SOLE   192,149 2,858 22,760
LG DISPLAY CO LTD-ADR COM 50186V102 47 4,022 SH   SOLE   4,022 0 0
LINCOLN NATIONAL CORP COMMON S COM 534187109 551 9,298 SH   SOLE   5,871 3,427 0
Lloyds TSB Group SPD ADR COM 539439109 31 5,618 SH   SOLE   5,618 0 0
LOWES COMPANIES INC COM 548661107 241 3,600 SH   SOLE   3,600 0 0
LYONDELLBASELL INDU-CL A COM N53745100 1,074 10,376 SH   SOLE   10,376 0 0
MACK CALI REALTY CORP REIT USD COM 554489104 10,001 542,670 SH   SOLE   482,057 3,110 57,503
Macy's Inc. COM 55616p104 647 9,587 SH   SOLE   9,587 0 0
Magna International CL A VTG COM 559222401 22 390 SH   SOLE   390 0 0
Manulife Financial Corp. COM 56501R106 0 1,310 SH   SOLE   1,310 0 0
MARATHON OIL CORP COM 565849106 122 4,612 SH   SOLE   790 3,822 0
Marathon Petroleum Corp COM 56585a102 0 14,368 SH   SOLE   14,368 0 0
Marvell Technology Group Ltd COM G5876H105 4,006 303,866 SH   SOLE   85,590 99,734 118,542
Matthews International Corp COM 577128101 4,704 88,525 SH   SOLE   78,410 1,100 9,015
MEDICAL PROPERTIES TRUST REIT COM 58463J304 9,619 733,723 SH   SOLE   646,870 9,493 77,360
Mentor Graphics Corp COM 587200106 14,475 547,667 SH   SOLE   482,080 6,872 58,715
MERCK + CO. INC. COMMON STOCK COM 58933Y105 653 11,463 SH   SOLE   11,463 0 0
MEREDITH CORP COM 589433101 9,612 184,316 SH   SOLE   162,294 2,376 19,646
Meritage Corp. COM 59001A102 145 3,083 SH   SOLE   3,083 0 0
METHANEX CORP COM COM 59151K108 23 417 SH   SOLE   417 0 0
METLIFE INC COMMON STOCK USD.0 COM 59156R108 2,483 44,343 SH   SOLE   40,299 3,963 81
Michael Kors Holdings Ltd. COM G60754101 34 814 SH   SOLE   814 0 0
MICRON TECHNOLOGY INC COMMON S COM 595112103 1,932 102,527 SH   SOLE   92,650 9,683 194
MICROSEMI CORPORATION COM 595137100 14,710 420,893 SH   SOLE   370,105 5,563 45,225
MICROSOFT CORP COM 594918104 1,388 31,448 SH   SOLE   26,137 5,205 106
Mitsubishi UFJ Financial Group COM 606822104 4,369 605,072 SH   SOLE   134,057 200,157 270,858
Mizuho Finl Group Inc. COM 60687Y109 58 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 179 2,564 SH   SOLE   450 2,114 0
MONTPELIER RE HLDGS LTD COM G62185106 7,696 194,847 SH   SOLE   172,570 2,192 20,085
Morgan Stanley COM 617446448 657 16,925 SH   SOLE   16,925 0 0
MURPHY OIL CORP COMMON STOCK U COM 626717102 109 2,623 SH   SOLE   450 2,173 0
Nabors Industries Ltd. COM G6359F103 353 24,487 SH   SOLE   24,487 0 0
NASDAQ OMX GROUP/THE COMMON ST COM 631103108 231 4,727 SH   SOLE   800 3,927 0
NATIONAL GRID PLC SP ADR COM 636274300 30 465 SH   SOLE   465 0 0
Navient Corp COM 63938C108 260 14,255 SH   SOLE   14,255 0 0
NBT Bancorp COM 628778102 3,132 119,662 SH   SOLE   105,850 1,289 12,523
NCR Corp COM 62886E108 217 7,208 SH   SOLE   7,208 0 0
NELNET INC CL A COM 64031N108 3,830 88,441 SH   SOLE   78,102 1,004 9,335
NETAPP INC COM 64110D104 351 11,108 SH   SOLE   7,354 3,754 0
NETGEAR INC. COM 64111Q104 2,355 78,433 SH   SOLE   69,100 1,043 8,290
Neustar Inc. Class A COM 64126X201 155 5,313 SH   SOLE   5,313 0 0
New Residential Investment COM 64828T201 8,657 568,054 SH   SOLE   498,587 7,937 61,530
NEWMONT MINING CORP COM 651639106 924 39,574 SH   SOLE   35,004 4,480 90
Nippon Teleg Adr COM 654624105 4,184 115,295 SH   SOLE   28,242 42,141 44,912
Noble Corp COM G65431101 31 2,007 SH   SOLE   2,007 0 0
Nomura Hldg Inc Spons- ADR COM 65535H208 4,371 646,577 SH   SOLE   142,725 212,809 291,043
NORFOLK SOUTHERN CORP COMMON S COM 655844108 792 9,066 SH   SOLE   7,514 1,552 0
OCCIDENTAL PETE CORP COM 674599105 54 700 SH   SOLE   700 0 0
OLD NATIONAL BANCORP COM 680033107 10,467 723,860 SH   SOLE   639,030 9,240 75,590
Olin Corp COM 680665205 6,306 233,974 SH   SOLE   206,110 2,984 24,880
Open Text Corp. COM 683715106 25 621 SH   SOLE   621 0 0
Oracle Corp COM 68389X105 711 17,655 SH   SOLE   17,655 0 0
Orbital ATK Inc. COM 68557N103 6,175 84,173 SH   SOLE   72,981 997 10,195
ORIX SPONSORED ADR COM 686330101 51 690 SH   SOLE   690 0 0
Oshkosh Truck Corp. COM 688239201 374 8,826 SH   SOLE   5,482 3,344 0
Outerwall Inc. COM 690070107 144 1,892 SH   SOLE   1,892 0 0
OWENS &MINOR INC HLDG CO COM 690732102 8,689 255,564 SH   SOLE   225,478 2,822 27,264
OWENS ILLINOIS INC COMMON STOC COM 690768403 373 16,276 SH   SOLE   10,874 5,402 0
P G + E CORP COMMON STOCK NPV COM 69331C108 636 12,950 SH   SOLE   12,950 0 0
PACCAR INC COMMON STOCK USD1.0 COM 693718108 658 10,307 SH   SOLE   10,307 0 0
PAN AMERICAN SILVER CP F COM 697900108 2,930 341,070 SH   SOLE   300,290 3,698 37,082
PartnerRe Ltd. COM G6852T105 253 1,972 SH   SOLE   619 1,353 0
Pennsylvania Rl Est Tr Sh Ben COM 709102107 9,987 467,991 SH   SOLE   414,355 5,486 48,150
Petroleo Brasileiro S/A COM 71654v408 16 1,734 SH   SOLE   1,734 0 0
PFIZER INCORPORATED COM 717081103 836 24,926 SH   SOLE   24,926 0 0
PHILIP MORRIS INTL INC COM 718172109 92 1,150 SH   SOLE   1,150 0 0
Phillips 66 COM 718546104 2,255 27,996 SH   SOLE   24,917 3,019 60
Pilgrims Pride Corp COM 72147K108 57 2,467 SH   SOLE   2,467 0 0
PITNEY BOWES INC COM 724479100 207 9,956 SH   SOLE   9,956 0 0
PLANTRONICS INC COM 727493108 15,553 276,205 SH   SOLE   244,510 3,125 28,570
PNC FINL SERVICES GP INC COM 693475105 2,756 28,813 SH   SOLE   25,993 2,764 56
Portland General Electric COM 736508847 12,775 385,245 SH   SOLE   340,170 4,656 40,419
PPL CORPORATION COMMON STOCK U COM 69351T106 867 29,422 SH   SOLE   24,613 4,809 0
PRINCIPAL FINANCIAL GROUP COMM COM 74251V102 289 5,625 SH   SOLE   5,625 0 0
Prospect Capital Corp. COM 74348T102 1,819 246,768 SH   SOLE   205,825 3,665 37,278
Prosperity Bancshares Inc. COM 743606105 6,783 117,477 SH   SOLE   99,643 1,397 16,437
PRUDENTIAL FINANCIAL INC COMMO COM 744320102 2,156 24,635 SH   SOLE   21,842 2,738 55
PUBLIC SERVICE ENTERPRISE GP C COM 744573106 615 15,653 SH   SOLE   15,653 0 0
Qlogic Corp. COM 747277101 13,523 952,996 SH   SOLE   838,140 11,771 103,085
QUALCOMM INC COMMON STOCK USD. COM 747525103 1,720 27,470 SH   SOLE   24,534 2,878 58
QUANTA SERVICES INC COMMON STO COM 74762E102 1,376 47,738 SH   SOLE   39,710 7,870 158
Quest Diagnostics Inc. COM 74834L100 1,448 19,971 SH   SOLE   17,433 2,489 49
Rait Financial Trust COM 749227609 7,673 1,255,751 SH   SOLE   1,106,317 15,531 133,903
RAYONIER ADVANCED MATERIALS COM 75508B104 2,404 147,841 SH   SOLE   142,777 2,144 2,920
RAYTHEON COMPANY COMMON STOCK COM 755111507 573 5,989 SH   SOLE   5,989 0 0
Regal Beloit Corp. COM 758750103 9,326 128,481 SH   SOLE   111,310 3,811 13,360
Regions Financial Corp. New COM 7591ep100 502 48,467 SH   SOLE   31,524 16,943 0
Reinsurance Group Of America I COM 759351604 299 3,156 SH   SOLE   3,156 0 0
RELIANCE STEEL + ALUMINUM COMM COM 759509102 241 3,990 SH   SOLE   3,990 0 0
REYNOLDS AMERICAN INC COM 761713106 243 3,260 SH   SOLE   2,719 541 0
RIO Tinto PLC, Spon ADR COM 767204100 24 583 SH   SOLE   583 0 0
Rock-Tenn COM 772739207 163 2,713 SH   SOLE   460 2,253 0
Rogers Communications B COM 775109200 25 717 SH   SOLE   717 0 0
ROVI CORP COM 779376102 1,983 124,347 SH   SOLE   110,462 1,605 12,280
Royal Bank of Canada COM 780087102 640 10,460 SH   SOLE   10,460 0 0
ROYAL DUTCH SHELL PLC ADR ADR COM 780259206 3,291 57,720 SH   SOLE   12,626 19,212 25,882
RYDER SYSTEM INC COM 783549108 179 2,051 SH   SOLE   350 1,701 0
SANDERSON FARMS INC COMMON STO COM 800013104 140 1,864 SH   SOLE   1,864 0 0
Sanmina Corp COM 801056102 6,606 327,673 SH   SOLE   289,186 3,877 34,610
Sanofi-ADR COM 80105N105 55 1,102 SH   SOLE   1,102 0 0
Scana Corp. COM 80589M102 236 4,657 SH   SOLE   4,657 0 0
Schulman A Inc Com COM 808194104 5,027 114,983 SH   SOLE   102,135 1,293 11,555
Science Applications Intl. Cor COM 808625107 5,443 102,986 SH   SOLE   91,010 1,251 10,725
SEADRILL LTD COM G7945E105 31 3,026 SH   SOLE   3,026 0 0
SECTOR SPDR FINANCIAL COM 81369y605 176 7,200 SH   SOLE   7,200 0 0
SELECT MEDICAL HOLDINGS CORP COM 81619Q105 12,436 767,655 SH   SOLE   676,955 9,660 81,040
Selective Ins Group Com COM 816300107 144 5,122 SH   SOLE   5,122 0 0
SENIOR HOUSING PROP TRUST REIT COM 81721M109 154 8,758 SH   SOLE   1,490 7,268 0
SEVENTY SEVEN ENERGY INC-W/I COM 818097107 1 250 SH   SOLE   250 0 0
Shaw Communications Inc. B COM 82028k200 3,710 170,269 SH   SOLE   35,802 60,464 74,003
SHINHAN FINANCIAL GP SPN ADR R COM 824596100 29 777 SH   SOLE   777 0 0
SK TELECOM ADR COM 78440P108 3,282 132,380 SH   SOLE   29,378 43,504 59,498
SMITH-NPHW PLC SPADR NEW COM 83175M205 3,521 103,704 SH   SOLE   22,491 35,007 46,206
Southern Copper Corp. COM 84265V105 16 540 SH   SOLE   540 0 0
SOUTHWEST AIRLINES CO COMMON S COM 844741108 645 19,493 SH   SOLE   19,493 0 0
Spartannash Co. COM 847215100 5,758 176,938 SH   SOLE   155,990 2,538 18,410
SPDR S&P OIL & GAS & PR COM 78464A730 127 2,720 SH   SOLE   2,720 0 0
SPX Corp. COM 784635104 169 2,333 SH   SOLE   400 1,933 0
St Jude Medical Inc COM 790849103 1,416 19,384 SH   SOLE   16,995 2,342 47
STAPLES INC COM 855030102 550 35,955 SH   SOLE   27,857 8,098 0
State Street Corp COM 857477103 658 8,542 SH   SOLE   8,542 0 0
StatoilHydro ASA COM 85771p102 2,730 152,489 SH   SOLE   30,931 48,617 72,941
STEPAN CO COM 858586100 6,925 127,988 SH   SOLE   112,810 1,598 13,580
SUMITOMO MITSUI-SPONS ADR COM 86562M209 4,301 483,747 SH   SOLE   107,414 159,693 216,640
Sun Life Financial Inc. COM 866796105 19 570 SH   SOLE   570 0 0
Suncor Energy Inc. COM 867224107 3,297 119,796 SH   SOLE   25,702 40,306 53,788
SUNTRUST BANKS INC COM 867914103 2,798 65,045 SH   SOLE   55,492 9,440 113
SUPERVALU INC DEL COM COM 868536103 141 17,474 SH   SOLE   17,474 0 0
Sykes Enterprises Inc Com COM 871237103 4,705 194,023 SH   SOLE   170,909 2,524 20,590
SYMANTEC CORP COMMON STOCK USD COM 871503108 890 38,272 SH   SOLE   30,176 8,096 0
SYMETRA FINANCIAL CORP COM 87151q106 8,160 337,625 SH   SOLE   299,240 3,460 34,925
Synnex Corp. COM 87162w100 143 1,951 SH   SOLE   1,951 0 0
SYNOPSYS INC COMMON STOCK USD. COM 871607107 214 4,221 SH   SOLE   720 3,501 0
Taiwan S. Manufacturing ADR COM 874039100 61 2,681 SH   SOLE   2,681 0 0
Talen Energy Corp. COM 87422J105 12 707 SH   SOLE   121 586 0
Taro Pharmaceuticals COM M8737E108 52 360 SH   SOLE   360 0 0
TATA MTRS LTD SPONSORED ADR COM 876568502 3,733 108,293 SH   SOLE   23,404 35,588 49,301
TCF Financial Corp. Com COM 872275102 8,575 516,264 SH   SOLE   454,514 6,813 54,937
Tech Data Corp. COM 878237106 6,231 108,244 SH   SOLE   95,770 1,236 11,238
TEGNA INC. COM 87901J105 265 8,275 SH   SOLE   8,275 0 0
Telefonica SA Spain ADR COM 879382208 3,850 271,152 SH   SOLE   57,034 86,849 127,269
Terex Corp New Com COM 880779103 144 6,201 SH   SOLE   6,201 0 0
TESORO CORPORATION COM 881609101 297 3,522 SH   SOLE   3,522 0 0
Teva Pharmaceutical Industries COM 881624209 5,339 90,345 SH   SOLE   35,232 26,650 28,463
THERMO FISHER SCIENTIFIC INC C COM 883556102 1,899 14,632 SH   SOLE   12,642 1,951 39
TORCHMARK CORP COMMON STOCK US COM 891027104 62 1,060 SH   SOLE   1,060 0 0
Toronto-Dominion Bank COM 891160509 644 15,144 SH   SOLE   15,144 0 0
Total SA ADR COM 89151E109 3,439 69,936 SH   SOLE   15,676 23,568 30,692
Toyota Motor Corp. ADR COM 892331307 674 5,041 SH   SOLE   5,041 0 0
TRANSOCEAN LTD COM h8817h100 29 1,804 SH   SOLE   1,804 0 0
Travelcenters of America COM 894174101 1,723 116,039 SH   SOLE   102,390 1,449 12,200
TRAVELERS COS INC/THE COMMON S COM 89417E109 638 6,597 SH   SOLE   6,597 0 0
Trinity Industries COM 896522109 490 18,551 SH   SOLE   18,551 0 0
TRIPLE-S MANAGEMENT CORP-B COM 896749108 4,159 162,073 SH   SOLE   142,655 1,926 17,492
Triumph Group Inc New Com COM 896818101 11,143 168,864 SH   SOLE   147,687 4,547 16,630
Trustmark Corp. COM 898402102 153 6,125 SH   SOLE   6,125 0 0
Turkcell iletism adr COM 900111204 13 1,106 SH   SOLE   1,106 0 0
TUTOR PERINI CORP COM 901109108 9,459 438,329 SH   SOLE   386,795 5,324 46,210
Two Harbors Investment Corp COM 90187B101 176 18,039 SH   SOLE   3,080 14,959 0
Tyson Foods Inc CL A COM 902494103 1,345 31,543 SH   SOLE   27,338 4,122 83
U S BANCORP DEL NEW COM 902973304 694 15,982 SH   SOLE   15,982 0 0
UBS AG COM H42097107 3,570 168,383 SH   SOLE   0 72,516 95,867
Ultra Petroleum Corp COM 903914109 6,946 554,816 SH   SOLE   487,860 7,331 59,625
Umpqua Holdings Corp. COM 904214103 4,607 256,076 SH   SOLE   222,420 3,391 30,265
UNITED RENTALS INC COM COM 911363109 286 3,265 SH   SOLE   3,265 0 0
United States Steel Corp. COM 912909108 103 4,987 SH   SOLE   870 4,117 0
UNITED TECHNOLOGIES CORP COM 913017109 133 1,200 SH   SOLE   1,200 0 0
UNITEDHEALTH GROUP INC COM 91324p102 586 4,800 SH   SOLE   4,800 0 0
Universal Fst Prods Com COM 913543104 5,027 96,620 SH   SOLE   85,150 1,240 10,230
UNUM GROUP COMMON STOCK USD.1 COM 91529Y106 512 14,313 SH   SOLE   9,503 4,810 0
VALERO ENERGY CORP NEW COM 91913y100 3,142 50,187 SH   SOLE   42,803 7,294 90
VERIZON COMMUNICATIONS COM 92343v104 1,714 36,779 SH   SOLE   33,264 3,446 69
Viacom Inc - Class B COM 92553P201 2,381 36,832 SH   SOLE   33,280 3,482 70
Vishay Intertech COM 928298108 11,786 1,009,033 SH   SOLE   880,355 24,278 104,400
Vista Outdoor Inc. COM 928377100 3,925 87,422 SH   SOLE   76,930 1,102 9,390
Wal-Mart Stores COM 931142103 647 9,120 SH   SOLE   9,120 0 0
WASHINGTON FEDERAL INC SEATTLE COM 938824109 83 495,987 SH   SOLE   436,660 6,197 53,130
WASTE MANAGEMENT INC COM 94106l109 168 3,620 SH   SOLE   610 3,010 0
Webster Finl Corp Waterbury COM 947890109 7,641 193,193 SH   SOLE   171,014 2,289 19,890
WELLS FARGO & CO NEW COM 949746101 2,763 49,125 SH   SOLE   44,710 4,327 88
WesBanco Inc. COM 950810101 3,719 109,304 SH   SOLE   96,132 571 12,601
WESTERN DIGITAL CORP COMMON ST COM 958102105 566 7,220 SH   SOLE   7,220 0 0
Western Refining Inc. COM 959319104 236 5,404 SH   SOLE   5,404 0 0
WESTERN UN CO COM 959802109 636 31,306 SH   SOLE   31,306 0 0
Westpac Banking Corp- ADR COM 961214301 72 2,917 SH   SOLE   2,917 0 0
Wiley John & Sons CL A COM 968223206 4,355 80,091 SH   SOLE   70,396 1,095 8,600
Wintrust Finl Corp Com COM 97650W108 13,360 250,289 SH   SOLE   220,742 2,987 26,560
Worthington Industries Inc COM 981811102 159 5,283 SH   SOLE   5,283 0 0
XEROX CORP COMMON STOCK USD1.0 COM 984121103 356 33,445 SH   SOLE   27,228 6,217 0
XL GROUP PLC COMMON STOCK USD. COM G98290102 13 341 SH   SOLE   341 0 0
YAMANA GOLD INC COM 98462y100 1,917 639,155 SH   SOLE   255,064 167,965 216,126
ZIMMER BIOMET HOLDINGS INC COM 98956P102 185 1,692 SH   SOLE   280 1,412 0