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 44,659,272 781,850 SH   DFND 1,2 766,489 0 15,361
Agrium Inc COM 008916108 85,204,970 965,058 SH   DFND 1,2 946,550 0 18,508
Albany International Corp CL A 012348108 29,784,662 792,356 SH   DFND 1,2 792,310 0 46
Alphabet Inc CAP STK CL A 02079K305 51,391,995 67,364 SH   DFND 1,2 65,855 0 1,509
Ameris Bancorp COM 03076K108 35,007,722 1,183,493 SH   DFND 1,2 1,183,426 0 67
Analogic Corp COM PAR $0.05 032657207 43,042,830 544,777 SH   DFND 1 544,777 0 0
Aon PLC SHS CL A G0408V102 139,463,937 1,335,222 SH   DFND 1,2 1,311,125 0 24,097
Apache Corp COM 037411105 52,096,328 1,067,329 SH   DFND 1,2 1,049,149 0 18,180
Apartment Investment & Management Co PFD CL A 6.875% 03748R762 1,562,319 57,165 SH   DFND 1 57,165 0 0
Ares Capital Corp COM 04010L103 10,373,946 699,053 SH   DFND 1 699,053 0 0
ARRIS International PLC SHS G0551A103 14,410,239 628,719 SH   DFND 1,2 628,676 0 43
Ashford Hospitality Trust Inc 9% CUM PFD SER E 044103505 4,832,293 202,188 SH   DFND 1 202,188 0 0
AstraZeneca PLC SPONSORED ADR 046353108 14,271,065 506,785 SH   DFND 1 506,785 0 0
Atmos Energy Corp COM 049560105 12,618,630 169,925 SH   DFND 1 169,907 0 18
Avery Dennison Corp COM 053611109 12,049,076 167,093 SH   DFND 1,2 167,074 0 19
Avery Dennison Corp CALL COM 053611109 2,718,547 37,700 SH Call DFND 1 37,700 0 0
Aviva PLC ADR 05382A104 2,309,203 176,815 SH   DFND 1 176,815 0 0
Axis Capital Holdings Ltd SHS G0692U109 18,309,065 330,131 SH   DFND 1,2 330,086 0 45
Bank of America Corp COM 060505104 65,896,980 4,874,037 SH   DFND 1,2 4,786,753 0 87,284
Bank of New York Mellon Corp/The COM 064058100 4,785,874 129,945 SH   DFND 1 129,945 0 0
Barclays PLC ADR 06738E204 1,791,236 207,800 SH   DFND 1 207,800 0 0
Bio-Rad Laboratories Inc CL A 090572207 57,770,489 422,546 SH   DFND 1,2 422,443 0 103
Boise Cascade Co COM 09739D100 19,150,066 924,231 SH   DFND 1 924,231 0 0
Brandywine Realty Trust SH BEN INT NEW 105368203 85,789,746 6,114,736 SH   DFND 1,2 6,114,448 0 288
Bruker Corp COM 116794108 9,536,520 340,590 SH   DFND 1,2 340,541 0 49
Capital Bank Financial Corp CL A COM 139794101 67,396,483 2,184,651 SH   DFND 1,2 2,184,562 0 89
Cedar Fair LP DEPOSITRY UNIT 150185106 2,431,505 40,900 SH   DFND 1 40,900 0 0
Cheniere Energy Inc COM NEW 16411R208 69,618,959 2,057,906 SH   DFND 1 2,022,899 0 35,007
Cigna Corp COM 125509109 57,963,451 422,351 SH   DFND 1,2 413,837 0 8,514
Cisco Systems Inc COM 17275R102 71,230,516 2,501,950 SH   DFND 1,2 2,454,636 0 47,314
CIT Group Inc COM NEW 125581801 128,289,594 4,134,373 SH   DFND 1,2 4,069,577 0 64,796
CIT GROUP INC APRIL 16 CALL 33 COM NEW 125581801 3,236,429 104,300 SH Call DFND 1 104,300 0 0
Citigroup Inc COM NEW 172967424 141,587,234 3,391,311 SH   DFND 1,2 3,329,709 0 61,602
Coherent Inc COM 192479103 123,318,312 1,341,875 SH   DFND 1,2 1,341,669 0 206
Colony Capital Inc CONV PFD-C 19624R403 2,981,683 135,040 SH   DFND 1 135,040 0 0
Copa Holdings SA CL A P31076105 56,090,631 827,906 SH   DFND 1,2 814,325 0 13,581
CVR Partners LP COM 126633106 4,685,997 560,526 SH   DFND 1 560,526 0 0
CVS Health Corp COM 126650100 73,394,057 707,549 SH   DFND 1,2 694,298 0 13,251
Deltic Timber Corp COM 247850100 21,142,424 351,495 SH   DFND 1,2 351,474 0 21
Discover Financial Services COM 254709108 114,307,201 2,244,839 SH   DFND 1,2 2,206,000 0 38,839
Eaton Corp PLC SHS G29183103 3,276,892 52,380 SH   DFND 1 52,380 0 0
Edison International COM 281020107 52,037,073 723,843 SH   DFND 1 711,795 0 12,048
Elizabeth Arden Inc COM 28660G106 38,672,336 4,721,897 SH   DFND 1,2 4,721,637 0 260
EnerSys COM 29275Y102 61,465,177 1,103,108 SH   DFND 1,2 1,103,049 0 59
Entegris Inc COM 29362U104 38,318,453 2,813,396 SH   DFND 1 2,813,396 0 0
EQT Corp COM 26884L109 115,578,776 1,718,388 SH   DFND 1,2 1,685,283 0 33,105
Euronet Worldwide Inc COM 298736109 29,559,218 398,856 SH   DFND 1,2 398,829 0 27
Exxon Mobil Corp COM 30231G102 534,558 6,395 SH   DFND 1 6,395 0 0
FBR & Co COM NEW 30247C400 13,981,399 772,880 SH   DFND 1 772,880 0 0
Ford Motor Co COM PAR $0.01 345370860 68,910,696 5,104,496 SH   DFND 1,2 5,024,144 0 80,352
FORD MOTOR CO APR16 14.75 CALL COM PAR $0.01 345370860 6,442,200 477,200 SH Call DFND 1 477,200 0 0
Forestar Group Inc COM 346233109 66,966,841 5,135,494 SH   DFND 1,2 5,135,177 0 317
Fred's Inc CL A 356108100 48,913,895 3,280,610 SH   DFND 1,2 3,280,431 0 179
Frontier Communications Corp PFD CONV SER-A 35906A207 19,076,176 182,722 PRN   DFND 1 182,722 0 0
General Electric Co COM 369604103 66,019,024 2,076,723 SH   DFND 1,2 2,039,734 0 36,989
General Motors Co COM 37045V100 109,131,560 3,472,210 SH   DFND 1,2 3,407,100 0 65,110
Gilead Sciences Inc COM 375558103 10,655,760 116,000 SH   DFND 1 116,000 0 0
GlaxoSmithKline PLC SPONSORED ADR 37733W105 20,198,563 498,115 SH   DFND 1 498,115 0 0
GP Strategies Corp COM 36225V104 21,572,869 787,331 SH   DFND 1 787,331 0 0
GSI Group Inc COM NEW 36191C205 39,086,216 2,760,326 SH   DFND 1 2,760,326 0 0
Haverty Furniture Cos Inc COM 419596101 28,169,186 1,331,247 SH   DFND 1,2 1,331,058 0 189
Hercules Capital Inc COM 427096508 3,675,924 306,072 SH   DFND 1 306,072 0 0
Heritage Financial Corp/WA COM 42722X106 34,367,640 1,956,041 SH   DFND 1,2 1,955,939 0 102
Hess Corp COM 42809H107 78,263,645 1,486,489 SH   DFND 1,2 1,459,930 0 26,559
HomeStreet Inc COM 43785V102 18,606,512 894,114 SH   DFND 1 894,114 0 0
Hooker Furniture Corp COM 439038100 49,381,532 1,503,243 SH   DFND 1 1,503,243 0 0
ICF International Inc COM 44925C103 18,215,068 529,970 SH   DFND 1,2 529,893 0 77
Impax Laboratories Inc COM 45256B101 6,104,933 190,660 SH   DFND 1 190,481 0 179
ING Groep NV SPONSORED ADR 456837103 4,082,684 342,220 SH   DFND 1 342,220 0 0
Ingersoll-Rand PLC SHS G47791101 79,265,770 1,278,274 SH   DFND 1,2 1,256,216 0 22,058
Integrated Device Technology Inc COM 458118106 29,457,535 1,441,171 SH   DFND 1 1,441,171 0 0
Inter Parfums Inc COM 458334109 44,430,986 1,437,896 SH   DFND 1,2 1,437,818 0 78
Interpublic Group of Cos Inc/The COM 460690100 90,218,492 3,931,089 SH   DFND 1,2 3,868,244 0 62,845
iShares iBoxx $ Investment Grade Corporate Bond ETF IBOXX INV CP ETF 464287242 595,050 5,008 SH   DFND 1 4,663 0 345
John B Sanfilippo & Son Inc COM 800422107 55,699,805 806,192 SH   DFND 1,2 806,144 0 48
JPMorgan Chase & Co COM 46625H100 118,873,490 2,007,320 SH   DFND 1,2 1,972,649 0 34,671
Kimball Electronics Inc COM 49428J109 8,139,511 728,694 SH   DFND 1 728,694 0 0
Koninklijke Philips NV NY REG SH NEW 500472303 98,168,604 3,438,480 SH   DFND 1,2 3,384,195 0 54,285
Laclede Group Inc/The COM 505597104 64,707,754 955,096 SH   DFND 1,2 955,043 0 53
Landec Corp COM 514766104 26,087,974 2,484,569 SH   DFND 1 2,484,569 0 0
Lattice Semiconductor Corp COM 518415104 79,267,137 13,955,482 SH   DFND 1,2 13,954,676 0 806
La-Z-Boy Inc COM 505336107 25,467,978 952,430 SH   DFND 1,2 952,311 0 119
Loews Corp COM 540424108 41,115,458 1,074,633 SH   DFND 1,2 1,053,975 0 20,658
Louisiana-Pacific Corp COM 546347105 28,103,746 1,641,574 SH   DFND 1,2 1,641,479 0 95
Lumentum Holdings Inc COM 55024U109 4,306,515 159,678 SH   DFND 1,2 159,659 0 19
Marten Transport Ltd COM 573075108 27,450,727 1,466,385 SH   DFND 1,2 1,466,295 0 90
Materion Corp COM 576690101 50,188,417 1,895,333 SH   DFND 1,2 1,895,216 0 117
MetLife Inc COM 59156R108 71,151,646 1,619,291 SH   DFND 1,2 1,587,724 0 31,567
Microsoft Corp COM 594918104 92,083,377 1,667,271 SH   DFND 1,2 1,636,014 0 31,257
Mitel Networks Corp COM 60671Q104 104,077,281 12,723,384 SH   DFND 1,2 12,722,756 0 628
Mitsubishi UFJ Financial Group Inc SPONSORED ADR 606822104 50,678 11,041 SH   DFND 1 11,041 0 0
National CineMedia Inc COM 635309107 6,421,646 422,199 SH   DFND 1 422,199 0 0
National Storage Affiliates Trust COM SHS BEN IN 637870106 8,915,448 420,540 SH   DFND 1 420,540 0 0
Neenah Paper Inc COM 640079109 31,236,370 490,675 SH   DFND 1 490,675 0 0
Nippon Telegraph & Telephone Corp SPONSORED ADR 654624105 9,386,971 217,090 SH   DFND 1 217,090 0 0
NiSource Inc COM 65473P105 14,762,413 626,588 SH   DFND 1 626,497 0 91
Occidental Petroleum Corp COM 674599105 107,632,725 1,572,888 SH   DFND 1,2 1,544,988 0 27,900
Oracle Corp COM 68389X105 151,707,166 3,708,315 SH   DFND 1,2 3,650,468 0 57,847
Orbital ATK Inc COM 68557N103 37,400,805 430,191 SH   DFND 1,2 430,166 0 25
PacWest Bancorp COM 695263103 45,288,339 1,219,067 SH   DFND 1,2 1,219,009 0 58
Paramount Group Inc COM 69924R108 9,841,915 617,048 SH   DFND 1 617,048 0 0
PayPal Holdings Inc COM 70450Y103 62,384,162 1,616,170 SH   DFND 1,2 1,588,816 0 27,354
PennyMac Mortgage Investment Trust COM 70931T103 8,151,755 597,636 SH   DFND 1 597,636 0 0
Pfizer Inc COM 717081103 74,651,333 2,518,601 SH   DFND 1,2 2,473,959 0 44,642
PH Glatfelter Co COM 377316104 25,140,038 1,212,737 SH   DFND 1 1,212,669 0 68
Philip Morris International Inc COM 718172109 38,061,872 387,951 SH   DFND 1,2 379,873 0 8,078
Phillips 66 COM 718546104 51,836,757 598,646 SH   DFND 1,2 587,815 0 10,831
PNC Financial Services Group Inc/The COM 693475105 54,292,586 641,984 SH   DFND 1,2 628,909 0 13,075
PNM Resources Inc COM 69349H107 28,637,047 849,260 SH   DFND 1 849,260 0 0
PrivateBancorp Inc COM 742962103 48,274,009 1,250,622 SH   DFND 1,2 1,250,568 0 54
Ramco-Gershenson Properties Trust COM SH BEN INT 751452202 73,420,990 4,072,157 SH   DFND 1,2 4,071,928 0 229
Raytheon Co COM NEW 755111507 69,381,356 565,778 SH   DFND 1,2 554,171 0 11,607
Redwood Trust Inc COM 758075402 7,888,469 603,094 SH   DFND 1 603,094 0 0
Reinsurance Group of America Inc COM NEW 759351604 24,358,853 253,079 SH   DFND 1,2 253,063 0 16
Sanofi SPONSORED ADR 80105N105 78,168,508 1,946,427 SH   DFND 1,2 1,911,948 0 34,479
Seagate Technology PLC SHS G7945M107 2,440,438 70,840 SH   DFND 1 70,840 0 0
Select Comfort Corp COM 81616X103 14,383,211 741,785 SH   DFND 1 741,785 0 0
StoneMor Partners LP COM UNITS 86183Q100 1,889,170 77,425 SH   DFND 1 77,425 0 0
Stoneridge Inc COM 86183P102 43,015,496 2,954,361 SH   DFND 1 2,954,361 0 0
Suncor Energy Inc COM 867224107 71,892,910 2,585,146 SH   DFND 1,2 2,535,527 0 49,619
Synchrony Financial COM 87165B103 27,770,737 968,972 SH   DFND 1,2 947,942 0 21,030
Target Corp COM 87612E106 67,264,146 817,503 SH   DFND 1,2 804,339 0 13,164
Taylor Morrison Home Corp CL A 87724P106 50,959,291 3,609,015 SH   DFND 1,2 3,608,198 0 817
Telefonaktiebolaget LM Ericsson ADR B SEK 10 294821608 3,647,860 363,695 SH   DFND 1 363,695 0 0
Teradyne Inc COM 880770102 113,411,924 5,252,984 SH   DFND 1,2 5,196,083 0 56,901
Terex Corp COM 880779103 7,669,185 308,247 SH   DFND 1 308,247 0 0
TEVA PHARMACEUTICAL IND APR15 57.5 CALL ADR 881624209 1,035,008 41,600 SH Call DFND 1 41,600 0 0
Teva Pharmaceutical Industries Ltd ADR 881624209 104,944,240 1,961,208 SH   DFND 1,2 1,927,464 0 33,744
Teva Pharmaceutical Industries Ltd ADR M8769Q136 19,693,299 22,279 PRN   DFND 1 22,279 0 0
Time Warner Inc COM NEW 887317303 69,861,877 962,948 SH   DFND 1,2 942,276 0 20,672
TOTAL SA SPONSORED ADR 89151E109 2,011,197 44,280 SH   DFND 1 44,280 0 0
TPG Specialty Lending Inc COM 87265K102 3,297,117 204,409 SH   DFND 1 204,409 0 0
TreeHouse Foods Inc COM 89469A104 96,790,878 1,115,745 SH   DFND 1,2 1,115,577 0 168
TRI Pointe Group Inc COM 87265H109 51,855,830 4,402,023 SH   DFND 1,2 4,401,794 0 229
Union Pacific Corp COM 907818108 54,255,804 682,034 SH   DFND 1,2 667,446 0 14,588
United Parcel Service Inc CL B 911312106 12,027,271 114,035 SH   DFND 1 114,035 0 0
Universal Electronics Inc COM 913483103 9,474,799 152,844 SH   DFND 1 152,822 0 22
Unum Group COM 91529Y106 177,919,647 5,754,193 SH   DFND 1,2 5,662,302 0 91,891
Vector Group Ltd COM 92240M108 8,424,465 368,847 SH   DFND 1 368,847 0 0
VeriFone Systems Inc COM 92342Y109 28,511,555 1,009,616 SH   DFND 1,2 1,009,290 0 326
Viacom Inc CL B 92553P201 115,327,486 2,793,786 SH   DFND 1,2 2,747,288 0 46,498
Wal-Mart Stores Inc COM 931142103 57,376,059 837,729 SH   DFND 1,2 822,419 0 15,310
Wells Fargo & Co COM 949746101 85,311,102 1,764,084 SH   DFND 1,2 1,731,227 0 32,857
Wells Fargo & Co PERP PFD CNV A 949746804 14,355,165 11,913 PRN   DFND 1 11,913 0 0
Western Alliance Bancorp COM 957638109 63,495,068 1,902,189 SH   DFND 1,2 1,902,107 0 82