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
AARON'S INC COM 002535300 44,087 1,969,046 SH   SOLE   0 936,840 1,032,206
ABBVIE INC COM 00287Y109 4,473 75,500 SH   SOLE   0 0 75,500
AGCO CORPORATION COM 001084102 53,984 1,189,340 SH   SOLE   0 548,500 640,840
ALCOA INC COM 013817101 479,990 48,631,232 SH   SOLE   0 6,272,670 42,358,562
ALLEGHANY CORPORATION COM 017175100 140,641 294,272 SH   SOLE   0 24,517 269,755
ALLERGAN PLC COM G0177J108 7,531 24,100 SH   SOLE   0 0 24,100
ALPHABET INC. CL C COM 02079K107 191,893 252,863 SH   SOLE   0 22,608 230,255
ALPHABET INC. CL A COM 02079K305 192,703 247,687 SH   SOLE   0 22,547 225,140
AMERICAN EXPRESS COMPANY COM 025816109 209,435 3,011,290 SH   SOLE   0 258,440 2,752,850
AMERICAN INTL GROUP INC COM 026874784 574,405 9,269,080 SH   SOLE   0 1,124,690 8,144,390
AMERIPRISE FINANCIAL INC COM 03076C106 8,354 78,500 SH   SOLE   0 0 78,500
AMGEN INC COM 031162100 5,785 35,640 SH   SOLE   0 0 35,640
ANALOG DEVICES INC COM 032654105 230,634 4,169,080 SH   SOLE   0 393,060 3,776,020
ANHEUSER-BUSCH INBEV SPN ADR COM 03524A108 142,387 1,139,097 SH   SOLE   0 80,830 1,058,267
ANTHEM INC COM 036752103 5,795 41,560 SH   SOLE   0 0 41,560
AON PLC COM G0408V102 699,696 7,588,070 SH   SOLE   0 815,340 6,772,730
APOLLO EDUCATION GRP CL A COM 037604105 77,715 10,132,310 SH   SOLE   0 4,311,690 5,820,620
APPLE INC COM 037833100 3,368 32,000 SH   SOLE   0 0 32,000
ARRIS GROUP INC COM 04270V106 107,997 3,532,783 SH   SOLE   0 1,627,210 1,905,573
ARROW ELECTRONICS INC. COM 042735100 51,890 957,740 SH   SOLE   0 483,420 474,320
AVNET INC COM 053807103 61,606 1,438,051 SH   SOLE   0 702,810 735,241
BABCOCK & WILCOX ENTERPRISES I COM 05614L100 34,219 1,639,630 SH   SOLE   0 793,430 846,200
BANK OF AMERICA CORP COM 060505104 332,418 19,751,490 SH   SOLE   0 1,725,530 18,025,960
BARNES & NOBLE INC COM 067774109 16,002 1,837,200 SH   SOLE   0 897,710 939,490
CARDINAL HEALTH INC. COM 14149Y108 4,976 55,740 SH   SOLE   0 0 55,740
CASCADE BANCORP COM 147154207 1,540 253,743 SH   SOLE   0 253,743 0
CBS CORP CL B NON VOTING COM 124857202 11,283 239,400 SH   SOLE   0 61,300 178,100
CIMAREX ENERGY CO COM 171798101 68,774 769,460 SH   SOLE   0 370,140 399,320
CISCO SYSTEMS INC COM 17275R102 445,238 16,396,170 SH   SOLE   0 1,405,850 14,990,320
CIT GROUP INC. COM 125581801 231,839 5,839,770 SH   SOLE   0 529,670 5,310,100
CITIGROUP INC COM 172967424 575,551 11,121,760 SH   SOLE   0 1,236,580 9,885,180
CITIZENS CMNTY BANCORP INC COM 174903104 1,028 108,909 SH   SOLE   0 108,909 0
CUBIC CORP COM 229669106 28,584 604,947 SH   SOLE   0 318,647 286,300
CVS HEALTH CORPORATION COM 126650100 12,446 127,300 SH   SOLE   0 127,300 0
DANA HOLDINGS CORP COM 235825205 51,180 3,708,684 SH   SOLE   0 1,853,330 1,855,354
DELTA AIR LINES INC COM 247361702 4,420 87,200 SH   SOLE   0 0 87,200
DEVRY EDUCATION GROUP INC. COM 251893103 78,847 3,115,238 SH   SOLE   0 1,549,930 1,565,308
DISCOVERY COMMUNICATIONS SER C COM 25470F302 5,016 198,870 SH   SOLE   0 0 198,870
EBAY INC COM 278642103 684 24,900 SH   SOLE   0 0 24,900
ESTERLINE TECHNOLOGIES CORP COM 297425100 263,271 3,250,260 SH   SOLE   0 485,000 2,765,260
EXPRESS SCRIPTS HOLDING CO COM 30219G108 4,954 56,680 SH   SOLE   0 0 56,680
EXPRESS SCRIPTS HOLDING CO COM 30219G108 7,351 84,100 SH Call SOLE   0 84,100 0
FEDEX CORP COM 31428X106 4,216 28,300 SH   SOLE   0 0 28,300
FIRST ADVANTAGE BANCORP COM 31848L104 1,469 89,600 SH   SOLE   0 89,600 0
FOOT LOCKER INC COM 344849104 14,761 226,780 SH   SOLE   0 110,940 115,840
GENERAL ELECTRIC COMPANY COM 369604103 370,495 11,893,890 SH   SOLE   0 1,029,470 10,864,420
HALLIBURTON COMPANY COM 406216101 112,439 3,303,150 SH   SOLE   0 312,730 2,990,420
HCA HOLDINGS INC COM 40412C101 3,366 49,770 SH   SOLE   0 0 49,770
HELMERICH & PAYNE INC COM 423452101 72,448 1,352,905 SH   SOLE   0 621,150 731,755
HNI CORPORATION COM 404251100 1,002 27,782 SH   SOLE   0 0 27,782
HORNBECK OFFSHORE SVCS INC COM 440543106 7,284 732,800 SH   SOLE   0 732,800 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 17,554 805,985 SH   SOLE   0 196,470 609,515
INGERSOLL-RAND PLC COM G47791101 4,371 79,050 SH   SOLE   0 0 79,050
INTERDIGITAL INC COM 45867G101 78,524 1,601,221 SH   SOLE   0 735,561 865,660
INTERPUBLIC GROUP COS INC COM 460690100 229,362 9,852,330 SH   SOLE   0 865,730 8,986,600
INVESCO LIMITED COM G491BT108 7,262 216,900 SH   SOLE   0 0 216,900
JOY GLOBAL INC COM 481165108 37,480 2,972,270 SH   SOLE   0 240,710 2,731,560
LABORATORY CORP AMER HLDGS COM 50540R409 6,231 50,400 SH   SOLE   0 0 50,400
LEGG MASON INC COM 524901105 75,928 1,935,470 SH   SOLE   0 171,810 1,763,660
LEUCADIA NATIONAL CORP COM 527288104 308,006 17,711,700 SH   SOLE   0 1,935,230 15,776,470
LPL FINL HLDGS INC COM 50212V100 192,292 4,508,600 SH   SOLE   0 729,440 3,779,160
MADISON SQUARE GARDEN CO CL A COM 55825T103 4,254 26,293 SH   SOLE   0 0 26,293
MCDONALDS CORP COM 580135101 2,469 20,900 SH   SOLE   0 0 20,900
MCKESSON CORP COM 58155Q103 8,651 43,865 SH   SOLE   0 0 43,865
MICROSOFT CORP COM 594918104 765,528 13,798,278 SH   SOLE   0 1,796,620 12,001,658
MSG NETWORK INC CL A COM 553573106 2,049 98,490 SH   SOLE   0 0 98,490
NAUGATUCK VALLEY FINL CORP COM 63906P107 263 24,012 SH   SOLE   0 24,012 0
NOBLE ENERGY INC COM 655044105 75,211 2,283,966 SH   SOLE   0 1,032,813 1,251,153
OCCIDENTAL PETROLEUM CORP COM 674599105 233,252 3,449,970 SH   SOLE   0 279,110 3,170,860
ORACLE CORPORATION COM 68389X105 883,487 24,185,250 SH   SOLE   0 2,749,330 21,435,920
OSHKOSH CORP COM 688239201 33,171 849,670 SH   SOLE   0 412,470 437,200
OWENS ILLINOIS INC COM 690768403 180,214 10,345,210 SH   SOLE   0 935,580 9,409,630
PAR PACIFIC HOLDINGS INC. COM 69888T207 652 27,700 SH   SOLE   0 27,700 0
PATTERSON-UTI ENERGY INC COM 703481101 62,984 4,176,680 SH   SOLE   0 1,986,250 2,190,430
PAYPAL HLDGS INC COM 70450Y103 901 24,900 SH   SOLE   0 0 24,900
POAGE BANKSHARES INC COM 730206109 1,991 116,447 SH   SOLE   0 116,447 0
QUALCOMM INC COM 747525103 152,517 3,051,250 SH   SOLE   0 264,300 2,786,950
REGIS CORP COM 758932107 16,826 1,189,106 SH   SOLE   0 1,189,106 0
RELIANCE STEEL & ALUMINUM COM 759509102 16,227 280,218 SH   SOLE   0 134,190 146,028
ROWAN COMPANIES PLC COM G7665A101 71,893 4,241,500 SH   SOLE   0 2,087,940 2,153,560
RUSH ENTERPRISES INC CL A COM 781846209 4,602 210,227 SH   SOLE   0 210,227 0
SANDERSON FARMS INC COM 800013104 2,798 36,090 SH   SOLE   0 17,850 18,240
SCANSOURCE, INC. COM 806037107 9,307 288,872 SH   SOLE   0 0 288,872
SM ENERGY COMPANY COM 78454L100 31,087 1,581,231 SH   SOLE   0 759,350 821,881
SPIRIT AIRLINES INC COM 848577102 5,051 126,760 SH   SOLE   0 0 126,760
SPX CORP COM 784635104 373 39,970 SH   SOLE   0 39,970 0
TE CONNECTIVITY LTD COM H84989104 469,136 7,261,050 SH   SOLE   0 631,590 6,629,460
THERMO FISHER SCIENTIFIC INC COM 883556102 259,927 1,832,410 SH   SOLE   0 156,670 1,675,740
TIME WARNER INC COM 887317303 8,365 129,350 SH   SOLE   0 0 129,350
TOWNEBANK PORTSMOUTH COM 89214P109 1,800 86,237 SH   SOLE   0 86,237 0
TWENTY FIRST CENTY FOX INC CL COM 90130A101 8,363 307,900 SH   SOLE   0 0 307,900
TWENTY FIRST CENTY FOX INC CL COM 90130A200 3,213 118,000 SH   SOLE   0 0 118,000
UNITED TECHNOLOGIES CORP COM 913017109 562,119 5,851,140 SH   SOLE   0 513,430 5,337,710
VEECO INSTRUMENTS INC COM 922417100 33,473 1,628,053 SH   SOLE   0 797,125 830,928
WALGREENS BOOTS ALLIANCE INC COM 931427108 45,492 534,230 SH   SOLE   0 41,210 493,020
WALTER INVESTMENT MGMT COM 93317W102 12,546 882,300 SH   SOLE   0 882,300 0
WESTERN DIGITAL CORP. COM 958102105 75,136 1,251,220 SH   SOLE   0 596,320 654,900
WHIRLPOOL CORP. COM 963320106 6,661 45,350 SH   SOLE   0 0 45,350
YAHOO INC COM 984332106 129,532 3,894,540 SH   SOLE   0 481,840 3,412,700
FEDERAL HOME LN MTG CORP V 5.5 PFD 313400673 80 30,647 SH   SOLE   0 30,647 0
FEDERAL HOME LN MTG CORP W 5.6 PFD 313400665 132 43,853 SH   SOLE   0 43,853 0
FEDERAL HOME LN MTG H 5.10% PFD 313400855 9 1,925 SH   SOLE   0 1,925 0
TAIWAN SEMICONDUCTOR MFG ADR 874039100 5,153 226,500 SH   SOLE   0 13,400 213,100
HORNBECK OFFSHORE SVCS INC CV 440543AN6 4,550 8,000,000 PRN   SOLE   0 8,000,000 0
UTI WORLDWIDE INC CV 90349LAB0 43,068 43,835,000 PRN   SOLE   0 43,835,000 0
WALTER INVESTMENT MGMT CV 93317WAA0 21,038 31,283,000 PRN   SOLE   0 2,442,000 28,841,000
BANK OF AMERICA CORP WT WT 060505146 300 51,677 SH   SOLE   0 51,677 0
JPMORGAN CHASE & CO WT 46634E114 237 10,000 SH   SOLE   0 10,000 0