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
ALLEGHANY CORP DEL COM 017175100 35,263 64,163 SH   SOLE 61,493 0 2,670
ALLISON TRANSMISSION HLDGS I COM 01973R101 18,336 649,535 SH   SOLE 621,335 0 28,200
ALLSTATE CORP COM 020002101 188,612 2,696,386 SH   SOLE 1,422,067 0 1,274,319
ALLY FINL INC COM 02005N100 12,024 704,400 SH   SOLE 672,700 0 31,700
AMERICAN AXLE & MFG HLDGS IN COM 024061103 429 29,598 SH   SOLE 29,598 0 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 2,194 117,400 SH   SOLE 117,400 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 896,140 16,943,464 SH   SOLE 9,420,561 0 7,522,903
AMERICAN VANGUARD CORP COM 030371108 26,549 1,757,043 SH   SOLE 1,450,343 0 306,700
ANTHEM INC COM 036752103 323,825 2,465,551 SH   SOLE 1,395,781 0 1,069,770
ARRIS INTL INC SHS G0551A103 216,833 10,345,103 SH   SOLE 9,480,403 0 864,700
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 4,035 87,004 SH   SOLE 72,004 0 15,000
ASSOCIATED BANC CORP COM 045487105 21,126 1,231,848 SH   SOLE 1,016,248 0 215,600
AVIS BUDGET GROUP COM 053774105 18,194 564,500 SH   SOLE 539,500 0 25,000
AVNET INC COM 053807103 57,179 1,411,484 SH   SOLE 1,352,184 0 59,300
BANK AMER CORP COM 060505104 802,235 60,454,811 SH   SOLE 33,601,404 0 26,853,407
BANK AMER CORP *W EXP 01/16/201 060505146 1,743 500,763 SH   SOLE 500,763 0 0
BARCLAYS PLC ADR 06738E204 162 21,288 SH   SOLE 21,288 0 0
BED BATH & BEYOND INC COM 075896100 321,358 7,435,411 SH   SOLE 4,769,777 0 2,665,634
BEST BUY INC COM 086516101 24,447 798,936 SH   SOLE 765,636 0 33,300
BIOGEN INC COM 09062X103 55,377 229,000 SH   SOLE 73,500 0 155,500
BOEING CO COM 097023105 161,936 1,246,911 SH   SOLE 663,138 0 583,773
BOULDER GROWTH & INCOME FD I COM 101507101 962 118,292 SH   SOLE 118,292 0 0
BRINKS CO COM 109696104 13,714 481,345 SH   SOLE 417,145 0 64,200
BROWN & BROWN INC COM 115236101 85,779 2,289,260 SH   SOLE 2,193,660 0 95,600
BUNGE LIMITED COM G16962105 99,316 1,679,058 SH   SOLE 1,160,276 0 518,782
CALPINE CORP COM NEW 131347304 560,789 38,019,617 SH   SOLE 23,416,655 0 14,602,962
CAPITAL ONE FINL CORP COM 14040H105 371,543 5,850,157 SH   SOLE 3,263,762 0 2,586,395
CBS CORP NEW CL B 124857202 173,035 3,178,449 SH   SOLE 1,672,599 0 1,505,850
CDW CORP COM 12514G108 71,975 1,795,790 SH   SOLE 1,722,490 0 73,300
CIT GROUP INC COM NEW 125581801 71,548 2,242,171 SH   SOLE 2,148,171 0 94,000
CITIGROUP INC COM NEW 172967424 769,222 18,146,311 SH   SOLE 9,906,237 0 8,240,074
CITIZENS FINL GROUP INC COM 174610105 438,493 21,946,583 SH   SOLE 13,847,581 0 8,099,002
CNH INDL N V SHS N20944109 254,338 35,571,805 SH   SOLE 18,917,716 0 16,654,089
COBALT INTL ENERGY INC COM 19075F106 67,485 50,361,931 SH   SOLE 29,587,077 0 20,774,854
COBALT INTL ENERGY INC NOTE 2.625%12/0 19075FAA4 13,909 36,602,000 PRN   SOLE 36,093,000 0 509,000
COBALT INTL ENERGY INC NOTE 3.125% 5/1 19075FAB2 1,979 5,820,000 PRN   SOLE 5,692,000 0 128,000
COMCAST CORP NEW CL A 20030N101 274,145 4,205,328 SH   SOLE 2,188,327 0 2,017,001
CORNING INC COM 219350105 917,403 44,795,085 SH   SOLE 27,508,357 0 17,286,728
CORRECTIONS CORP AMER NEW COM NEW 22025Y407 19,521 557,418 SH   SOLE 533,218 0 24,200
CREDIT SUISSE GROUP SPONSORED ADR 225401108 160 14,989 SH   SOLE 14,989 0 0
CUMMINS INC COM 231021106 653,914 5,815,672 SH   SOLE 3,360,402 0 2,455,270
DIODES INC COM 254543101 32,734 1,742,100 SH   SOLE 1,475,500 0 266,600
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 391,632 15,522,485 SH   SOLE 9,552,190 0 5,970,295
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 52,406 2,197,300 SH   SOLE 1,332,500 0 864,800
EATON CORP PLC SHS G29183103 100,506 1,682,671 SH   SOLE 560,793 0 1,121,878
EMBRAER S A SP ADR REP 4 COM 29082A107 98,310 4,526,242 SH   SOLE 2,832,042 0 1,694,200
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 2,449 36,469 SH   SOLE 24,669 0 11,800
ENPRO INDS INC COM 29355X107 60,864 1,371,120 SH   SOLE 1,155,820 0 215,300
ENSTAR GROUP LIMITED SHS G3075P101 67,928 419,333 SH   SOLE 366,603 0 52,730
ERICSSON ADR B SEK 10 294821608 314,724 40,979,684 SH   SOLE 23,589,307 0 17,390,377
EXPRESS SCRIPTS HLDG CO COM 30219G108 58,765 775,261 SH   SOLE 246,025 0 529,236
EXTREME NETWORKS INC COM 30226D106 22,075 6,511,852 SH   SOLE 5,320,152 0 1,191,700
FIFTH STR ASSET MGMT INC CL A COM 31679P109 2,128 526,642 SH   SOLE 526,642 0 0
FIFTH STR SR FLOATNG RATE CO COM 31679F101 559 70,232 SH   SOLE 70,232 0 0
FIFTH STREET FINANCE CORP COM 31678A103 681 140,507 SH   SOLE 140,507 0 0
FIFTH THIRD BANCORP COM 316773100 34,583 1,966,050 SH   SOLE 1,879,550 0 86,500
FIRST BANCORP P R COM NEW 318672706 21,960 5,531,502 SH   SOLE 4,557,702 0 973,800
FIRST HORIZON NATL CORP COM 320517105 42,498 3,084,041 SH   SOLE 2,580,299 0 503,742
FIRST NIAGARA FINL GP INC COM 33582V108 68,877 7,071,584 SH   SOLE 5,863,784 0 1,207,800
GENERAL MLS INC COM 370334104 1,305 18,300 SH   SOLE 0 0 18,300
GENERAL MTRS CO COM 37045V100 336,329 11,884,402 SH   SOLE 6,508,611 0 5,375,791
GENERAL MTRS CO *W EXP 07/10/201 37045V118 1,001 54,320 SH   SOLE 54,320 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 2,001 191,643 SH   SOLE 191,643 0 0
GEO GROUP INC NEW COM 36162J106 108,304 3,168,631 SH   SOLE 2,783,847 0 384,784
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 365,763 8,439,389 SH   SOLE 4,517,168 0 3,922,221
GLOBAL INDEMNITY PLC SHS G39319101 33,056 1,200,715 SH   SOLE 985,789 0 214,926
GOLDEN ENTMT INC COM 381013101 2,758 235,939 SH   SOLE 197,089 0 38,850
GOLDMAN SACHS GROUP INC COM 38141G104 225,720 1,519,182 SH   SOLE 911,614 0 607,568
GOODYEAR TIRE & RUBR CO COM 382550101 81,523 3,177,036 SH   SOLE 3,041,736 0 135,300
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 24,217 801,895 SH   SOLE 679,595 0 122,300
GREAT PLAINS ENERGY INC COM 391164100 53,856 1,771,587 SH   SOLE 1,483,687 0 287,900
HARLEY DAVIDSON INC COM 412822108 132,892 2,933,588 SH   SOLE 1,552,879 0 1,380,709
HARTE-HANKS INC COM 416196103 63 39,845 SH   SOLE 39,845 0 0
HEIDRICK & STRUGGLES INTL IN COM 422819102 6,673 395,336 SH   SOLE 321,636 0 73,700
HESS CORP COM 42809H107 678,860 11,295,512 SH   SOLE 6,119,709 0 5,175,803
HEWLETT PACKARD ENTERPRISE C COM 42824C109 494,305 27,055,545 SH   SOLE 17,110,072 0 9,945,473
HILL INTERNATIONAL INC COM 431466101 44 10,760 SH   SOLE 10,760 0 0
HONDA MOTOR LTD AMERN SHS 438128308 234,275 9,248,898 SH   SOLE 4,817,240 0 4,431,658
HORACE MANN EDUCATORS CORP N COM 440327104 96,009 2,841,345 SH   SOLE 2,349,445 0 491,900
HP INC COM 40434L105 124,212 9,897,410 SH   SOLE 4,983,337 0 4,914,073
HUDSON GLOBAL INC COM 443787106 9,234 4,687,115 SH   SOLE 3,623,960 0 1,063,155
HUMANA INC COM 444859102 173,577 964,959 SH   SOLE 524,075 0 440,884
INGRAM MICRO INC CL A 457153104 2,887 83,005 SH   SOLE 78,905 0 4,100
INTEROIL CORP COM 460951106 28,679 637,300 SH   SOLE 610,000 0 27,300
INTL PAPER CO COM 460146103 238,436 5,626,139 SH   SOLE 3,503,355 0 2,122,784
INTRAWEST RESORTS HLDGS INC COM 46090K109 10,857 836,453 SH   SOLE 836,453 0 0
INVACARE CORP COM 461203101 16,947 1,397,105 SH   SOLE 1,162,073 0 235,032
INVESTORS BANCORP INC NEW COM 46146L101 9,271 836,695 SH   SOLE 654,495 0 182,200
ISHARES TR RUS 2000 VAL ETF 464287630 23,148 237,900 SH   SOLE 237,900 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 8,687 75,560 SH   SOLE 75,000 0 560
JOHNSON CTLS INC COM 478366107 406,762 9,190,285 SH   SOLE 4,859,567 0 4,330,718
JPMORGAN CHASE & CO COM 46625H100 400,657 6,447,645 SH   SOLE 3,598,278 0 2,849,367
KAISER ALUMINUM CORP COM PAR $0.01 483007704 3,283 36,312 SH   SOLE 36,312 0 0
KBR INC COM 48242W106 62,858 4,747,597 SH   SOLE 3,990,097 0 757,500
KCAP FINL INC COM 48668E101 51 12,978 SH   SOLE 12,978 0 0
KELLOGG CO COM 487836108 82,258 1,007,452 SH   SOLE 339,353 0 668,099
KOHLS CORP COM 500255104 64,351 1,697,020 SH   SOLE 1,625,120 0 71,900
KONINKLIJKE PHILIPS N V NY REG SH NEW 500472303 238,778 9,574,104 SH   SOLE 5,258,192 0 4,315,911
KORN FERRY INTL COM NEW 500643200 2,046 98,831 SH   SOLE 98,831 0 0
KOSMOS ENERGY LTD SHS G5315B107 178,203 32,697,737 SH   SOLE 24,387,395 0 8,310,342
LIFEPOINT HEALTH INC COM 53219L109 70,753 1,082,343 SH   SOLE 916,643 0 165,700
LILLY ELI & CO COM 532457108 2,118 26,900 SH   SOLE 0 0 26,900
LOUISIANA PAC CORP COM 546347105 3,158 182,023 SH   SOLE 182,023 0 0
M/I HOMES INC COM 55305B101 21,720 1,153,464 SH   SOLE 967,264 0 186,200
MAGNA INTL INC COM 559222401 727 20,736 SH   SOLE 20,736 0 0
MANPOWERGROUP INC COM 56418H100 23,175 360,200 SH   SOLE 293,400 0 66,800
MARATHON OIL CORP COM 565849106 683,110 45,510,297 SH   SOLE 26,685,655 0 18,824,642
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 50,469 5,295,829 SH   SOLE 5,083,229 0 212,600
MASONITE INTL CORP NEW COM 575385109 62,229 940,863 SH   SOLE 773,463 0 167,400
MATSON INC COM 57686G105 79,802 2,471,424 SH   SOLE 2,066,924 0 404,500
MCDERMOTT INTL INC COM 580037109 41,886 8,479,045 SH   SOLE 7,709,545 0 769,500
MEDTRONIC PLC SHS G5960L103 143,488 1,653,662 SH   SOLE 877,349 0 776,313
MERITOR INC COM 59001K100 19,860 2,758,281 SH   SOLE 2,374,481 0 383,800
MERITOR INC NOTE 7.875% 3/0 59001KAC4 8,369 7,423,000 PRN   SOLE 7,196,000 0 227,000
MICROSOFT CORP COM 594918104 779,013 15,224,009 SH   SOLE 8,234,191 0 6,989,818
MILLER INDS INC TENN COM NEW 600551204 28,808 1,399,107 SH   SOLE 1,113,919 0 285,188
MORGAN STANLEY COM NEW 617446448 194,677 7,493,324 SH   SOLE 2,459,917 0 5,033,407
MURPHY OIL CORP COM 626717102 326,211 10,274,372 SH   SOLE 6,429,475 0 3,844,897
NATIONAL WESTN LIFE GROUP IN CL A 638517102 2,596 13,292 SH   SOLE 9,092 0 4,200
NAVISTAR INTL CORP NEW COM 63934E108 93,458 7,994,692 SH   SOLE 7,628,992 0 365,700
NAVISTAR INTL CORP NEW NOTE 4.750% 4/1 63934EAS7 9,540 16,153,000 PRN   SOLE 15,625,000 0 528,000
NEWS CORP NEW CL A 65249B109 40,946 3,607,573 SH   SOLE 3,459,073 0 148,500
NORDSTROM INC COM 655664100 136,755 3,594,094 SH   SOLE 1,874,662 0 1,719,432
NRG ENERGY INC COM NEW 629377508 398,587 26,590,196 SH   SOLE 18,779,683 0 7,810,513
OFFICE DEPOT INC COM 676220106 154,078 46,549,207 SH   SOLE 42,674,907 0 3,874,300
OMNICOM GROUP INC COM 681919106 53,175 652,533 SH   SOLE 208,965 0 443,568
ON SEMICONDUCTOR CORP COM 682189105 103,610 11,747,153 SH   SOLE 10,689,953 0 1,057,200
OPPENHEIMER HLDGS INC CL A NON VTG 683797104 19,328 1,250,214 SH   SOLE 1,038,614 0 211,600
ORACLE CORP COM 68389X105 621,885 15,193,879 SH   SOLE 8,309,582 0 6,884,297
ORION GROUP HOLDINGS INC COM 68628V308 58 10,905 SH   SOLE 10,905 0 0
PACCAR INC COM 693718108 141,539 2,728,733 SH   SOLE 1,459,090 0 1,269,643
PACKAGING CORP AMER COM 695156109 58,605 875,622 SH   SOLE 256,401 0 619,221
PARKER HANNIFIN CORP COM 701094104 244,221 2,260,263 SH   SOLE 1,273,708 0 986,555
PATTERSON UTI ENERGY INC COM 703481101 904 200,000 SH Put SOLE 200,000 0 0
PBF ENERGY INC CL A 69318G106 7,089 298,100 SH   SOLE 241,900 0 56,200
PEBBLEBROOK HOTEL TR COM 70509V100 32,033 1,220,300 SH   SOLE 1,019,700 0 200,600
PERFORMANT FINL CORP COM 71377E105 28 17,202 SH   SOLE 17,202 0 0
PETROQUEST ENERGY INC COM NEW 716748306 376 112,975 SH   SOLE 110,405 0 2,570
PHH CORP COM NEW 693320202 72,660 5,454,980 SH   SOLE 5,045,380 0 409,600
POPULAR INC COM NEW 733174700 198,117 6,761,686 SH   SOLE 6,268,686 0 493,000
PORTLAND GEN ELEC CO COM NEW 736508847 56,418 1,278,730 SH   SOLE 1,144,230 0 134,500
PPL CORP COM 69351T106 86,070 2,280,012 SH   SOLE 1,212,946 0 1,067,066
QLOGIC CORP COM 747277101 44,956 3,049,952 SH   SOLE 2,508,352 0 541,600
REAL IND INC COM 75601W104 38,757 4,988,042 SH   SOLE 4,156,023 0 832,019
REGIONS FINL CORP NEW COM 7591EP100 111,008 13,044,467 SH   SOLE 12,477,967 0 566,500
RENT A CTR INC NEW COM 76009N100 14,707 1,197,670 SH   SOLE 1,151,970 0 45,700
RMR GROUP INC CL A 74967R106 257 8,300 SH   SOLE 8,300 0 0
ROCKWELL COLLINS INC COM 774341101 104,228 1,224,195 SH   SOLE 393,127 0 831,068
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 29,500 1,178,096 SH   SOLE 1,025,182 0 152,914
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 355,487 6,437,654 SH   SOLE 3,407,658 0 3,029,996
RUBY TUESDAY INC COM 781182100 10,201 2,825,896 SH   SOLE 2,356,296 0 469,600
RUSH ENTERPRISES INC CL A 781846209 99,382 4,611,691 SH   SOLE 3,926,491 0 685,200
SANOFI SPONSORED ADR 80105N105 478,434 11,432,112 SH   SOLE 6,078,746 0 5,353,366
SANTANDER CONSUMER USA HDG I COM 80283M101 41,227 3,991,017 SH   SOLE 3,827,817 0 163,200
SERITAGE GROWTH PPTYS CL A 81752R100 11,344 227,600 SH   SOLE 190,100 0 37,500
SLM CORP COM 78442P106 13,545 2,191,711 SH   SOLE 1,847,511 0 344,200
SONIC AUTOMOTIVE INC CL A 83545G102 39,762 2,323,883 SH   SOLE 1,874,983 0 448,900
SOUTHERN CO COM 842587107 94,628 1,764,468 SH   SOLE 938,447 0 826,021
STANLEY BLACK & DECKER INC COM 854502101 945 8,500 SH   SOLE 0 0 8,500
STAPLES INC COM 855030102 26,031 3,019,828 SH   SOLE 2,906,128 0 113,700
STATE STR CORP COM 857477103 270,472 5,016,172 SH   SOLE 2,982,094 0 2,034,078
SUNTRUST BKS INC COM 867914103 134,699 3,278,951 SH   SOLE 1,603,243 0 1,675,708
SYMANTEC CORP COM 871503108 33,946 1,652,687 SH   SOLE 1,585,687 0 67,000
TARGET CORP COM 87612E106 139,099 1,992,250 SH   SOLE 1,093,327 0 898,923
TARO PHARMACEUTICAL INDS LTD SHS M8737E108 22,034 151,330 SH   SOLE 119,030 0 32,300
TERADATA CORP DEL COM 88076W103 88,966 3,548,711 SH   SOLE 2,017,773 0 1,530,938
TRI POINTE GROUP INC COM 87265H109 111,951 9,471,295 SH   SOLE 8,640,095 0 831,200
TUTOR PERINI CORP COM 901109108 63,191 2,683,279 SH   SOLE 2,229,179 0 454,100
UNUM GROUP COM 91529Y106 277,924 8,742,513 SH   SOLE 5,562,326 0 3,180,187
VAALCO ENERGY INC COM NEW 91851C201 57 53,765 SH   SOLE 53,765 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 17 43,800 SH Put SOLE 43,800 0 0
VODAFONE GROUP PLC NEW SPNSR ADR 92857W308 398,097 12,887,579 SH   SOLE 7,074,508 0 5,813,071
WAL-MART STORES INC COM 931142103 213,850 2,928,647 SH   SOLE 1,578,388 0 1,350,259
WASHINGTON FED INC COM 938824109 12,447 513,083 SH   SOLE 431,583 0 81,500
WELLCARE HEALTH PLANS INC COM 94946T106 3,478 32,421 SH   SOLE 32,421 0 0
WELLS FARGO & CO NEW COM 949746101 319,099 6,742,003 SH   SOLE 3,739,287 0 3,002,716
WHITING PETE CORP NEW COM 966387102 20,930 2,260,300 SH   SOLE 2,157,500 0 102,800
WILLIS TOWERS WATSON PUB LTD SHS G96629103 98,818 794,932 SH   SOLE 762,193 0 32,739
WISDOMTREE INVTS INC COM 97717P104 950 250,000 SH Put SOLE 250,000 0 0
XURA INC COM 98420V107 22,975 940,435 SH   SOLE 802,035 0 138,400
ZAGG INC COM 98884U108 64 12,106 SH   SOLE 12,106 0 0
ZIMMER BIOMET HLDGS INC COM 98956P102 180,926 1,502,959 SH   SOLE 859,541 0 643,418
ZIONS BANCORPORATION COM 989701107 15,233 606,158 SH   SOLE 580,458 0 25,700