The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AbbVie Inc COM 00287Y109 103 1,583,682 SH   DFND 1 1,552,418 0 31,264
Abengoa Yield plc ORD SHS G00349103 1,555 49,635 SH   DFND 1 49,635 0 0
Agrium Inc COM 008916108 79,946 777,825 SH   DFND 1 763,576 0 14,249
Albany International Corp CL A 012348108 67,185 1,688,075 SH   DFND 1,2 1,687,691 0 384
American International Group Inc COM NEW 026874784 4,707 76,145 SH   DFND 1 76,145 0 0
Analogic Corp COM PAR $0.05 032657207 43,610 552,722 SH   DFND 1 552,722 0 0
Aon PLC SHS CL A G0408V102 120,333 1,250,244 SH   DFND 1 1,228,059 0 22,185
Apache Corp COM 037411105 63,179 1,124,658 SH   DFND 1 1,104,725 0 19,933
Apartment Investment & Management Co PFD CL A 6.875% 03748R762 1,533 57,165 SH   DFND 1 57,165 0 0
Ares Capital Corp COM 04010L103 11,578 703,403 SH   DFND 1 703,403 0 0
Ashford Hospitality Trust Inc 9% CUM PFD SER E 044103505 5,982 227,207 SH   DFND 1 227,207 0 0
AstraZeneca PLC SPONSORED ADR 046353108 9,764 153,255 SH   DFND 1 153,255 0 0
Astronics Corp COM 046433108 45,520 642,120 SH   DFND 1,2 641,964 0 156
Avery Dennison Corp COM 053611109 29,690 491,855 SH   DFND 1,2 491,616 0 239
Aviva PLC ADR 05382A104 4,294 275,785 SH   DFND 1 275,785 0 0
Axis Capital Holdings Ltd SHS G0692U109 21,880 409,964 SH   DFND 1,2 409,684 0 280
Bank of America Corp COM 060505104 87,912 5,337,837 SH   DFND 1 5,238,299 0 99,538
Bank of New York Mellon Corp/The COM 064058100 6,978 166,250 SH   DFND 1 166,250 0 0
Barclays PLC ADR 06738E204 3,032 184,450 SH   DFND 1 184,450 0 0
Bio-Rad Laboratories Inc CL A 090572207 74,313 497,546 SH   DFND 1,2 497,223 0 323
Boise Cascade Co COM 09739D100 22,598 616,086 SH   DFND 1 616,086 0 0
Brandywine Realty Trust SH BEN INT NEW 105368203 77,127 5,836,226 SH   DFND 1,2 5,834,463 0 1,763
Bruker Corp COM 116794108 37,634 1,843,923 SH   DFND 1,2 1,842,675 0 1,248
CA Inc COM 12673P105 47,849 1,690,434 SH   DFND 1 1,660,347 0 30,087
Capital Bank Financial Corp CL A COM 139794101 66,453 2,285,968 SH   DFND 1,2 2,285,434 0 534
Caterpillar Inc COM 149123101 6,777 79,900 SH   DFND 1 79,900 0 0
Chevron Corp COM 166764100 209 2,166 SH   DFND 1 2,166 0 0
Cisco Systems Inc COM 17275R102 75,043 2,823,691 SH   DFND 1 2,768,343 0 55,348
CIT Group Inc COM NEW 125581801 116,013 2,578,209 SH   DFND 1 2,531,767 0 46,442
Citigroup Inc COM NEW 172967424 198,023 3,711,975 SH   DFND 1 3,640,644 0 71,331
Clearwater Paper Corp COM 18538R103 11,025 192,402 SH   DFND 1 192,270 0 132
Coherent Inc COM 192479103 129,497 2,047,777 SH   DFND 1,2 2,047,040 0 737
Copa Holdings SA CL A P31076105 44,861 558,277 SH   DFND 1 548,805 0 9,472
CVS Health Corp COM 126650100 83,235 819,859 SH   DFND 1 804,422 0 15,437
Deltic Timber Corp COM 247850100 32,546 481,162 SH   DFND 1,2 481,007 0 155
Discover Financial Services COM 254709108 115,692 2,070,757 SH   DFND 1 2,033,136 0 37,621
eBay Inc COM 278642103 105,162 1,803,886 SH   DFND 1 1,771,990 0 31,896
Elizabeth Arden Inc COM 28660G106 60,851 4,267,228 SH   DFND 1,2 4,265,990 0 1,238
EnerSys COM 29275Y102 50,104 712,816 SH   DFND 1,2 712,644 0 172
Entegris Inc COM 29362U104 38,725 2,657,841 SH   DFND 1 2,657,841 0 0
Euronet Worldwide Inc COM 298736109 28,295 458,587 SH   DFND 1,2 458,444 0 143
Express Inc COM 30219E103 31,733 1,773,653 SH   DFND 1 1,772,887 0 766
Exxon Mobil Corp COM 30231G102 559 6,715 SH   DFND 1 6,715 0 0
FBR & Co COM NEW 30247C400 18,660 827,752 SH   DFND 1 827,491 0 261
Ford Motor Co COM PAR $0.01 345370860 81,355 5,575,205 SH   DFND 1 5,488,888 0 86,317
Forestar Group Inc COM 346233109 68,433 5,200,069 SH   DFND 1,2 5,198,395 0 1,674
Fred's Inc CL A 356108100 14,034 727,509 SH   DFND 1,2 727,312 0 197
Frontier Communications Corp PFD CONV SER-A 35906A207 18,032 180,500 PRN   DFND 1 180,500 0 0
General Electric Co COM 369604103 88,130 3,424,159 SH   DFND 1 3,356,876 0 67,283
General Motors Co COM 37045V100 128,078 3,982,982 SH   DFND 1 3,908,312 0 74,670
Gilead Sciences Inc COM 375558103 17,000 145,200 SH   DFND 1 145,200 0 0
GlaxoSmithKline PLC SPONSORED ADR 37733W105 21,262 510,500 SH   DFND 1 510,500 0 0
Google Inc CL A 38259P508 40,082 77,442 SH   DFND 1 75,668 0 1,774
GP Strategies Corp COM 36225V104 24,321 731,686 SH   DFND 1 731,686 0 0
GSI Group Inc COM NEW 36191C205 40,828 2,716,406 SH   DFND 1 2,716,406 0 0
Hercules Technology Growth Capital Inc COM 427096508 5,986 518,300 SH   DFND 1 518,300 0 0
Hess Corp COM 42809H107 51,159 789,830 SH   DFND 1 775,726 0 14,104
Hilton Worldwide Holdings Inc COM 43300A104 69,123 2,605,334 SH   DFND 1 2,544,519 0 60,815
HomeStreet Inc COM 43785V102 7,149 313,266 SH   DFND 1 313,266 0 0
Hooker Furniture Corp COM 439038100 37,632 1,498,688 SH   DFND 1 1,498,688 0 0
ICF International Inc COM 44925C103 16,556 474,921 SH   DFND 1,2 474,602 0 319
Impax Laboratories Inc COM 45256B101 32,318 710,302 SH   DFND 1 710,004 0 298
ING Groep NV SPONSORED ADR 456837103 5,122 308,955 SH   DFND 1 308,955 0 0
Ingersoll-Rand PLC SHS G47791101 90,957 1,393,207 SH   DFND 1 1,367,817 0 25,390
Inland Real Estate Corp REDM PFD SER B 457461507 1,917 73,744 SH   DFND 1 73,744 0 0
Integrated Device Technology Inc COM 458118106 30,955 1,426,476 SH   DFND 1 1,426,476 0 0
Intelsat SA MAN CONV JR PFD L5140P119 1,225 42,705 PRN   DFND 1 42,705 0 0
Inter Parfums Inc COM 458334109 47,392 1,396,767 SH   DFND 1,2 1,396,400 0 367
Interpublic Group of Cos Inc/The COM 460690100 94,927 5,087,226 SH   DFND 1 5,005,117 0 82,109
iShares iBoxx $ Investment Grade Corporate Bond ETF IBOXX INV CP ETF 464287242 746 6,446 SH   DFND 1 6,010 0 436
Jazz Pharmaceuticals PLC SHS USD G50871105 22,305 126,680 SH   DFND 1,2 126,594 0 86
JDS Uniphase Corp COM PAR $0.001 46612J507 8,155 704,260 SH   DFND 1,2 703,747 0 513
John B Sanfilippo & Son Inc COM 800422107 27,102 522,193 SH   DFND 1,2 522,050 0 143
JPMorgan Chase & Co COM 46625H100 149,388 2,274,578 SH   DFND 1 2,234,006 0 40,572
Kimball Electronics Inc COM 49428J109 6,499 445,424 SH   DFND 1 445,424 0 0
Koninklijke Philips NV NY REG SH NEW 500472303 71,726 2,817,192 SH   DFND 1 2,769,219 0 47,973
Laclede Group Inc/The COM 505597104 63,357 1,217,001 SH   DFND 1,2 1,216,646 0 355
Landec Corp COM 514766104 22,211 1,539,220 SH   DFND 1 1,539,220 0 0
Lattice Semiconductor Corp COM 518415104 69,688 11,831,640 SH   DFND 1,2 11,828,361 0 3,279
La-Z-Boy Inc COM 505336107 16,332 620,033 SH   DFND 1,2 619,611 0 422
Loews Corp COM 540424108 69,147 1,858,304 SH   DFND 1 1,822,221 0 36,083
Louisiana-Pacific Corp COM 546347105 37,631 2,209,681 SH   DFND 1,2 2,209,023 0 658
Marten Transport Ltd COM 573075108 65,252 3,006,999 SH   DFND 1,2 3,006,132 0 867
Marvell Technology Group Ltd ORD G5876H105 4,414 334,774 SH   DFND 1,2 334,528 0 246
Materion Corp COM 576690101 60,637 1,720,204 SH   DFND 1,2 1,719,724 0 480
Merck & Co Inc COM 58933Y105 4,201 73,790 SH   DFND 1 73,790 0 0
MetLife Inc COM 59156R108 108,337 2,004,334 SH   DFND 1 1,963,871 0 40,463
Microchip Technology Inc COM 595017104 3,028 63,845 SH   DFND 1 63,845 0 0
Microsemi Corp COM 595137100 99,994 2,861,068 SH   DFND 1,2 2,860,212 0 856
Microsoft Corp COM 594918104 88,031 2,055,978 SH   DFND 1 2,019,010 0 36,968
Mitel Networks Corp COM 60671Q104 95,187 10,826,303 SH   DFND 1,2 10,823,050 0 3,253
Mitsubishi UFJ Financial Group Inc SPONSORED ADR 606822104 74 10,316 SH   DFND 1 10,316 0 0
MKS Instruments Inc COM 55306N104 6,926 182,553 SH   DFND 1 182,553 0 0
National CineMedia Inc COM 635309107 1,624 101,775 SH   DFND 1 101,775 0 0
National Storage Affiliates Trust COM SHS BEN IN 637870106 9,053 730,045 SH   DFND 1 730,045 0 0
Neenah Paper Inc COM 640079109 30,771 521,895 SH   DFND 1 521,895 0 0
NetApp Inc COM 64110D104 72,822 2,370,864 SH   DFND 1 2,336,128 0 34,736
New Residential Investment Corp COM NEW 64828T201 7,281 477,724 SH   DFND 1 477,724 0 0
Nippon Telegraph & Telephone Corp SPONSORED ADR 654624105 8,703 239,820 SH   DFND 1 239,820 0 0
NorthStar Realty Finance Corp COM NEW 66704R704 6,288 395,475 SH   DFND 1 395,475 0 0
NRG Energy Inc COM NEW 629377508 84,706 3,827,179 SH   DFND 1 3,758,881 0 68,298
Occidental Petroleum Corp COM 674599105 130,606 1,728,495 SH   DFND 1 1,696,877 0 31,618
Oracle Corp COM 68389X105 134,927 3,452,208 SH   DFND 1 3,396,845 0 55,363
Orbital ATK Inc COM 68557N103 51,174 697,576 SH   DFND 1,2 697,374 0 202
PACCAR Inc COM 693718108 73,458 1,189,962 SH   DFND 1 1,169,154 0 20,808
PacWest Bancorp COM 695263103 66,556 1,423,363 SH   DFND 1,2 1,422,940 0 423
Paramount Group Inc COM 69924R108 12,498 741,171 SH   DFND 1 741,007 0 164
PennyMac Mortgage Investment Trust COM 70931T103 11,101 651,379 SH   DFND 1 651,215 0 164
Pfizer Inc COM 717081103 141,945 4,372,936 SH   DFND 1 4,299,909 0 73,027
PH Glatfelter Co COM 377316104 79,433 3,612,239 SH   DFND 1 3,611,184 0 1,055
Philip Morris International Inc COM 718172109 34,625 448,043 SH   DFND 1 438,683 0 9,360
Phillips 66 COM 718546104 96,137 1,229,601 SH   DFND 1 1,209,768 0 19,833
Pinnacle West Capital Corp COM 723484101 26,426 464,512 SH   DFND 1,2 464,197 0 315
PNC Financial Services Group Inc/The COM 693475105 68,126 736,063 SH   DFND 1 720,548 0 15,515
PrivateBancorp Inc COM 742962103 49,054 1,236,470 SH   DFND 1,2 1,236,082 0 388
Rambus Inc COM 750917106 23,970 1,654,245 SH   DFND 1,2 1,653,098 0 1,147
Ramco-Gershenson Properties Trust COM SH BEN INT 751452202 59,784 3,663,231 SH   DFND 1,2 3,662,166 0 1,065
Raytheon Co COM NEW 755111507 60,714 656,461 SH   DFND 1,2 642,600 0 13,861
Redwood Trust Inc COM 758075402 12,637 822,852 SH   DFND 1 822,621 0 231
Reinsurance Group of America Inc COM NEW 759351604 25,671 275,086 SH   DFND 1,2 274,950 0 136
Royal Dutch Shell PLC SPONS ADR A 780259206 72,367 1,305,502 SH   DFND 1,2 1,283,417 0 22,085
Sanofi SPONSORED ADR 80105N105 126,416 2,636,361 SH   DFND 1,2 2,592,872 0 43,489
Seagate Technology PLC SHS G7945M107 12,025 253,160 SH   DFND 1 253,160 0 0
StoneMor Partners LP COM UNITS 86183Q100 3,076 102,025 SH   DFND 1 102,025 0 0
Stoneridge Inc COM 86183P102 37,802 3,228,216 SH   DFND 1 3,228,216 0 0
Suncor Energy Inc COM 867224107 78,901 2,958,195 SH   DFND 1,2 2,900,778 0 57,417
Target Corp COM 87612E106 83,527 1,059,947 SH   DFND 1,2 1,040,769 0 19,178
Telefonaktiebolaget LM Ericsson ADR B SEK 10 294821608 5,587 535,110 SH   DFND 1 535,110 0 0
Teradyne Inc COM 880770102 140,290 7,447,094 SH   DFND 1,2 7,358,450 0 88,644
Terex Corp COM 880779103 11,641 513,534 SH   DFND 1 513,362 0 172
Teva Pharmaceutical Industries Ltd ADR 881624209 170,694 2,984,606 SH   DFND 1,2 2,934,738 0 49,868
Time Warner Inc COM NEW 887317303 72,051 855,246 SH   DFND 1,2 837,139 0 18,107
TOTAL SA SPONSORED ADR 89151E109 2,848 57,915 SH   DFND 1 57,915 0 0
TPG Specialty Lending Inc COM 87265K102 3,985 234,409 SH   DFND 1 234,409 0 0
TreeHouse Foods Inc COM 89469A104 75,580 932,743 SH   DFND 1,2 932,472 0 271
TRI Pointe Group Inc COM 87265H109 62,083 4,057,694 SH   DFND 1,2 4,056,636 0 1,058
UBS Group AG SHS H42097107 253 11,940 SH   DFND 1 11,940 0 0
UMH Properties Inc CV RED PFD-A 903002202 218 8,356 SH   DFND 1 8,356 0 0
Union Pacific Corp COM 907818108 69,484 752,194 SH   DFND 1,2 735,456 0 16,738
United Parcel Service Inc CL B 911312106 10,086 104,075 SH   DFND 1 104,075 0 0
Unum Group COM 91529Y106 190,252 5,483,472 SH   DFND 1,2 5,395,084 0 88,388
Vector Group Ltd COM 92240M108 3,428 146,125 SH   DFND 1 146,125 0 0
VeriFone Systems Inc COM 92342Y109 33,124 975,397 SH   DFND 1,2 974,613 0 784
Viacom Inc CL B 92553P201 122,348 1,951,676 SH   DFND 1,2 1,918,273 0 33,403
Wal-Mart Stores Inc COM 931142103 64,393 911,502 SH   DFND 1,2 894,410 0 17,092
Wells Fargo & Co COM 949746101 107,937 1,982,833 SH   DFND 1,2 1,944,291 0 38,542
Western Alliance Bancorp COM 957638109 74,608 2,234,213 SH   DFND 1,2 2,233,599 0 614
Weyerhaeuser Co COM 962166104 313 9,925 SH   DFND 1 9,790 0 135