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 21,733 707,910 SH   SOLE   489,841 0 218,069
ACTIVISION BLIZZARD INC COM 00507V109 19,732 868,305 SH   SOLE   0 0 868,305
ALBANY INTERNATIONAL CORP CL A 012348108 30,282 761,806 SH   SOLE   527,372 0 234,434
ALEXANDER & BALDWIN INC COM 014491104 18,824 435,954 SH   SOLE   303,296 0 132,658
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 22,545 1,080,798 SH   SOLE   754,798 0 326,000
AMBAC FINANCIAL GROUP INC COM NEW 023139884 25,462 1,052,131 SH   SOLE   732,252 0 319,879
APPLIED MATERIALS INC COM 038222105 5,181 229,655 SH   SOLE   0 0 229,655
ARRIS GROUP INC COM 04270V106 13,531 468,291 SH   SOLE   236,372 0 231,919
ASHLAND INC COM 044209104 35,688 280,327 SH   SOLE   72,065 0 208,262
ASSURED GUARANTY LTD COM G0585R106 42,887 1,625,136 SH   SOLE   407,305 0 1,217,831
B&G FOODS INC COM 05508R106 25,913 880,480 SH   SOLE   612,236 0 268,244
BANKUNITED INC COM 06652K103 26,191 799,984 SH   SOLE   319,758 0 480,226
BARNES GROUP INC COM 067806109 20,461 505,336 SH   SOLE   351,006 0 154,330
BAXTER INTERNATIONAL COM 071813109 3,602 52,590 SH   SOLE   0 0 52,590
BOB EVANS FARMS COM 096761101 23,545 508,961 SH   SOLE   355,065 0 153,896
BROOKDALE SENIOR LIVING COM 112463104 76,557 2,027,470 SH   SOLE   754,537 0 1,272,933
CASEY`S GENERAL STORES INC COM 147528103 56,858 631,051 SH   SOLE   383,318 0 247,733
CHARTER COMMUNICATIONS INC CL A NEW 16117M305 26,865 139,119 SH   SOLE   0 0 139,119
CHEMTURA CORPORATION COM NEW 163893209 33,781 1,237,870 SH   SOLE   861,178 0 376,692
CINTAS CORP COM 172908105 15,970 195,640 SH   SOLE   0 0 195,640
CLEARWATER PAPER CORP COM 18538R103 28,150 431,090 SH   SOLE   299,283 0 131,807
CNO FINANCIAL GROUP COM 12621E103 48,123 2,794,627 SH   SOLE   1,172,828 0 1,621,799
COCA-COLA ENTERPRISES COM 19122T109 20,956 474,107 SH   SOLE   0 0 474,107
CORE-MARK HOLDING CO INC COM 218681104 25,022 389,022 SH   SOLE   279,460 0 109,562
CROWN HOLDINGS INC COM 228368106 55,419 1,025,904 SH   SOLE   242,540 0 783,364
CUBIC CORPORATION COM 229669106 13,052 252,117 SH   SOLE   177,932 0 74,185
DARLING INGREDIENTS INC. COM 237266101 52,712 3,762,491 SH   SOLE   1,598,758 0 2,163,733
DISCOVER FINANCIAL SERVICES COM 254709108 3,291 58,410 SH   SOLE   0 0 58,410
DOLLAR TREE INC. COM 256746108 24,208 298,333 SH   SOLE   0 0 298,333
DOMTAR CORP COM NEW 257559203 23,307 504,259 SH   SOLE   254,088 0 250,171
ECOLAB INC COM 278865100 3,931 34,365 SH   SOLE   0 0 34,365
ENSCO PLC SHS CLASS A G3157S106 4,620 219,274 SH   SOLE   0 0 219,274
ESTERLINE TECHNOLOGIES COM 297425100 38,738 338,559 SH   SOLE   218,104 0 120,455
FLUOR CORPORATION COM 343412102 24,575 429,941 SH   SOLE   102,929 0 327,012
GANNETT CO COM 364730101 33,892 914,035 SH   SOLE   0 0 914,035
GENERAC HOLDINGS INC COM 368736104 14,786 303,682 SH   SOLE   152,221 0 151,461
GENWORTH FINANCIAL INC COM CL A 37247D106 36,014 4,926,732 SH   SOLE   1,226,711 0 3,700,021
H&E EQUIPMENT SERVICES INC COM 404030108 15,028 601,364 SH   SOLE   416,516 0 184,848
HEALTHSOUTH CORP COM NEW 421924309 20,484 461,759 SH   SOLE   232,890 0 228,869
HERTZ GLOBAL HOLDINGS COM 42805T105 35,300 1,628,239 SH   SOLE   400,151 0 1,228,088
HUMANA INC COM 444859102 25,268 141,937 SH   SOLE   0 0 141,937
IBERIABANK CORP COM 450828108 29,281 464,549 SH   SOLE   321,210 0 143,339
INGRAM MICRO INC CL A 457153104 13,986 556,761 SH   SOLE   279,884 0 276,877
IRON MOUNTAIN COM 46284V101 35,441 971,526 SH   SOLE   253,815 0 717,711
JEFFERIES GROUP, INC. DBCV 472319AG7 5,756 5,695,000 PRN   SOLE   5,500,000 0 195,000
JUNIPER NETWORKS INC COM 48203R104 12,472 552,365 SH   SOLE   0 0 552,365
KEYCORP COM 493267108 43,778 3,091,646 SH   SOLE   699,531 0 2,392,115
KULICKE & SOFFA INDUSTRIES COM 501242101 34,532 2,209,342 SH   SOLE   1,541,541 0 667,801
LITTELFUSE INC COM 537008104 15,217 153,099 SH   SOLE   76,780 0 76,319
LIVE NATION ENTERTAINMENT INC COM 538034109 14,953 592,654 SH   SOLE   298,321 0 294,333
MANPOWERGROUP INC COM 56418H100 24,589 285,421 SH   SOLE   113,594 0 171,827
MASONITE INTERNATIONAL CORP COM 575385109 15,934 236,898 SH   SOLE   165,342 0 71,556
MBIA INC COM 55262C100 16,103 1,731,527 SH   SOLE   870,164 0 861,363
MEDIA GENERAL INC CL A 58441K100 14,341 869,669 SH   SOLE   603,783 0 265,886
MUELLER INDUSTRIES INC COM 624756102 30,234 836,823 SH   SOLE   583,773 0 253,050
NORTHWEST BANCSHARES INC COM 667340103 25,364 2,140,453 SH   SOLE   1,490,773 0 649,680
NORTHWESTERN CORP COM NEW 668074305 14,077 261,703 SH   SOLE   131,944 0 129,759
OMEGA HEALTHCARE COM 681936100 54,568 1,345,035 SH   SOLE   614,772 0 730,263
OMNICELL INC COM 68213N109 17,239 491,140 SH   SOLE   341,324 0 149,816
ONEOK INC COM 682680103 23,336 483,740 SH   SOLE   126,004 0 357,736
OWENS ILLINOIS COM NEW 690768403 60,132 2,578,545 SH   SOLE   1,046,612 0 1,531,933
PENTAIR PLC SHS G7S00T104 16,489 262,194 SH   SOLE   0 0 262,194
PIONEER NATURAL RESOURCES CO COM 723787107 3,214 19,655 SH   SOLE   0 0 19,655
PLANTRONICS INC COM 727493108 12,088 228,291 SH   SOLE   115,226 0 113,065
PORTLAND GENERAL ELECTRIC CO COM NEW 736508847 30,048 810,137 SH   SOLE   565,886 0 244,251
PRESTIGE BRANDS HOLDINGS INC COM 74112D101 30,016 699,838 SH   SOLE   483,904 0 215,934
QUESTAR CORP COM 748356102 24,407 1,022,906 SH   SOLE   446,426 0 576,480
REDWOOD TRUST INC COM 758075402 45,958 2,571,770 SH   SOLE   1,575,922 0 995,848
SABRA HEALTH CARE REIT INC COM 78573L106 19,968 602,357 SH   SOLE   421,614 0 180,743
SBA COMMUNICATIONS COM 78388J106 39,443 336,834 SH   SOLE   86,559 0 250,275
SENSIENT TECHNOLOGIES COM 81725T100 35,653 517,615 SH   SOLE   362,407 0 155,208
STAMPS.COM INC COM NEW 852857200 15,306 227,461 SH   SOLE   158,526 0 68,935
TARO PHARMACEUTICAL IND LTD SHS M8737E108 17,392 123,324 SH   SOLE   60,987 0 62,337
THE MOSAIC CO COM 61945C103 3,497 75,915 SH   SOLE   0 0 75,915
TIDEWATER INC COM 886423102 31,288 1,634,666 SH   SOLE   676,503 0 958,163
TRIBUNE MEDIA CO CL A 896047503 14,787 243,161 SH   SOLE   122,262 0 120,899
TYCO INTERNATIONAL PLC SHS G91442106 21,508 499,486 SH   SOLE   0 0 499,486
UNIFIRST CORPORATION COM 904708104 45,083 383,065 SH   SOLE   240,928 0 142,137
UNITED RENTALS INC COM 911363109 21,820 239,358 SH   SOLE   0 0 239,358
UNITEDHEALTH GROUP INC COM 91324P102 5,849 49,450 SH   SOLE   0 0 49,450
VERISK ANALYTICS CL A 92345Y106 56,017 784,553 SH   SOLE   200,588 0 583,965
WILLIAMS COS INC COM 969457100 27,753 548,594 SH   SOLE   0 0 548,594
WPX ENERGY INC COM 98212B103 22,623 2,069,777 SH   SOLE   539,129 0 1,530,648
XYLEM INC COM 98419M100 39,114 1,116,899 SH   SOLE   279,134 0 837,765