13F-HR 1 inftable.txt TABLE FOR FORM 13F FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AMR Corp. COM 001765106 1907 85501 SH SOLE 85501 Alberto Culver Class A COM 013068200 2555 65350 SH SOLE 65350 1378 35250 SH OTHER 02 01 35250 Albertsons, Inc. COM 013104104 2156 68472 SH SOLE 68472 Alltel Corp. COM 020039103 2091 33872 SH SOLE 33872 1075 17418 SH OTHER 02 01 17418 Ametek Inc COM 031100100 23596 739912 SH SOLE 580812 159100 749 23500 SH OTHER 03 01 23500 Amsouth Bancorporation COM 032165102 1197 63337 SH SOLE 63337 Arrow Electronics COM 042735100 59531 1991002 SH SOLE 1747902 243100 2469 82570 SH OTHER 02 03 01 82570 AutoZone, Inc. COM 053332102 3720 51805 SH SOLE 51805 75 1040 SH OTHER 01 1040 Avnet Inc. COM 053807103 18657 732495 SH SOLE 712895 19600 1753 68820 SH OTHER 02 01 68820 BJ's Wholesale Club, Inc. COM 05548J106 8821 200029 SH SOLE 200029 141 3200 SH OTHER 01 3200 Bank of America Corp COM 060505104 287 4564 SH SOLE 4564 Best Buy Inc Com COM 086516101 4113 55228 SH SOLE 55228 Big Lots Inc COM 089302103 41088 3950763 SH SOLE 3541863 408900 1536 147700 SH OTHER 02 03 01 147700 Boyd Gaming Corp. COM 103304101 292 45000 SH SOLE 45000 Bristol-Myers Squibb Co. COM 110122108 520 10200 SH SOLE 10200 Buckeye Partners L.P. * COM 118230101 450 12000 SH SOLE 12000 Buckeye Technologies Corp. COM 118255108 69589 6051193 SH SOLE 5351693 699500 3218 279854 SH OTHER 02 03 01 279854 Burlington Northern Santa Fe C COM 12189T104 4147 145340 SH SOLE 145340 Burlington Resources COM 122014103 1863 49630 SH SOLE 49630 147 3920 SH OTHER 02 01 3920 CPI Corp. COM 125902106 23989 1445104 SH SOLE 1134904 310200 711 42850 SH OTHER 02 03 42850 CSX Corp. COM 126408103 1161 33130 SH SOLE 33130 CVS Corp. COM 126650100 2766 93460 SH SOLE 93460 Cabot Oil & Gas Cl A COM 127097103 32959 1370423 SH SOLE 1205223 165200 2242 93215 SH OTHER 02 03 01 93215 Callon Petroleum Corp COM 13123X102 8413 1228220 SH SOLE 887020 341200 470 68600 SH OTHER 02 03 01 68600 Canadian Natl Railway Co. COM 136375102 2107 43650 SH SOLE 43650 Capital Automotive REIT* COM 139733109 38278 1924507 SH SOLE 1640207 284300 1275 64125 SH OTHER 02 03 01 64125 Cedar Fair, L.P. * COM 150185106 10973 442650 SH SOLE 442650 221 8920 SH OTHER 02 01 8920 Centurytel Inc. COM 156700106 43422 1323838 SH SOLE 1209038 114800 1728 52670 SH OTHER 02 01 52670 Citigroup Inc. COM 172967101 670 13280 SH SOLE 13280 2 48 SH OTHER 02 48 Citizens Communications Co. COM 17453B101 58350 5473688 SH SOLE 4814988 658700 2482 232805 SH OTHER 02 03 01 232805 Coca Cola Company COM 191216100 283 6000 SH SOLE 6000 Colgate-Palmolive COM 194162103 1246 21575 SH SOLE 21575 Conseco Inc COM 208464107 1824 408890 SH SOLE 408890 Costco Wholesale Corp. COM 22160K105 5516 124295 SH SOLE 124295 Delta Airlines COM 247361108 711 24300 SH SOLE 24300 Dollar Gen Corp Com COM 256669102 894 60000 SH SOLE 60000 Echostar Communications Class COM 278762109 19711 717550 SH SOLE 706000 11550 1479 53855 SH OTHER 02 01 53855 Everest RE Group LTD COM G3223R108 31703 448420 SH SOLE 440620 7800 1666 23570 SH OTHER 02 01 23570 Evergreen Resources Inc. COM 299900308 27370 708876 SH SOLE 584776 124100 772 20000 SH OTHER 02 03 01 20000 Exxon Mobil Corp COM 30231G102 258 6576 SH SOLE 6576 FBR Asset Investment Corp* COM 30241E303 1188 42500 SH SOLE 42500 Family Dollar Stores COM 307000109 2439 81350 SH SOLE 81350 FedEx Corporation COM 31428X106 5645 108813 SH SOLE 108813 Federated Dept. Stores, Inc. COM 31410H101 2877 70343 SH SOLE 70343 Felcor Lodging Trust Inc. COM 31430F101 192 11500 SH SOLE 11500 Ferrellgas Partners LP * COM 315293100 774 40750 SH SOLE 40750 30 1600 SH OTHER 02 1600 First Tennessee Natl. Corp. COM 337162101 1391 38351 SH SOLE 38351 Ford Motor Co COM 345370860 8344 530818 SH SOLE 530818 Freddie Mac COM 313400301 1202 18380 SH SOLE 18380 108 1650 SH OTHER 01 1650 Gallagher Arthur J & Co COM 363576109 16953 491540 SH SOLE 483740 7800 1119 32440 SH OTHER 02 01 32440 Gap, Inc. COM 364760108 2927 209950 SH SOLE 209950 General Electric COM 369604103 421 10500 SH SOLE 10500 General Motors COM 370442105 7763 159727 SH SOLE 159727 Grant Prideco Inc COM 38821G101 17883 1555063 SH SOLE 1528963 26100 1171 101828 SH OTHER 02 01 101828 Gulf Island Fabrication Inc COM 402307102 13415 1072359 SH SOLE 818459 253900 679 54275 SH OTHER 02 03 01 54275 Harley Davidson Inc. COM 412822108 4419 81375 SH SOLE 81375 Home Depot, Inc. COM 437076102 29283 574070 SH SOLE 574070 Horace Mann Educators Corp New COM 440327104 1591 75000 SH SOLE 75000 Idexx Labs Inc COM 45168D104 18998 666377 SH SOLE 514177 152200 525 18400 SH OTHER 03 18400 Integrated Homes Inc Com COM 45813J100 0 10000 SH SOLE 10000 Intl. Business Machines COM 459200101 1563 12920 SH SOLE 12920 J. C. Penney Co., Inc COM 708160106 54822 2037987 SH SOLE 2013487 24500 2740 101855 SH OTHER 02 01 101855 Journal Register Co. COM 481138105 64251 3053737 SH SOLE 2660837 392900 1730 82210 SH OTHER 02 03 01 82210 Kaydon Corp. COM 486587108 46560 2052900 SH SOLE 1800900 252000 2607 114950 SH OTHER 02 03 01 114950 Kinder Morgan Energy, L. P.* COM 494550106 273 7228 SH SOLE 7228 Kohls Corp Com COM 500255104 2434 34550 SH SOLE 34550 Kroger Co. COM 501044101 8520 408240 SH SOLE 408240 Lakes Gaming Inc COM 51206P109 229 37000 SH SOLE 37000 Liberty Media Corp COM 530718105 14321 1022960 SH SOLE 993960 29000 132 9400 SH OTHER 02 01 9400 Limited, Inc. COM 532716107 1178 80000 SH SOLE 80000 Linens 'N Things Inc COM 535679104 801 31400 SH SOLE 31400 Local Financial Corporation COM 539553107 679 48500 SH SOLE 48500 Lowe's Co. COM 548661107 10427 224672 SH SOLE 224672 Metris Companies Inc COM 591598107 100415 3905691 SH SOLE 3488141 417550 4996 194303 SH OTHER 02 03 01 194303 Municipal Mortgage & Equity * COM 62624B101 2609 103980 SH SOLE 103980 28 1100 SH OTHER 02 1100 National Commerce Financial Co COM 63545P104 1125 44453 SH SOLE 44453 New Plan Excel Realty Trust* COM 648053106 518 27200 SH SOLE 27200 37 1932 SH OTHER 02 1932 Norfolk Southern COM 655844108 1451 79150 SH SOLE 79150 Nu Horizons Elec Corp COM 669908105 576 56000 SH OTHER 56000 Oceaneering Intl., Inc. COM 675232102 26427 1194717 SH SOLE 938617 256100 617 27885 SH OTHER 02 03 01 27885 Ocwen Financial Corp COM 675746101 57620 6794756 SH SOLE 5980256 814500 3049 359598 SH OTHER 02 03 01 359598 Office Depot, Inc. COM 676220106 3848 207571 SH SOLE 207571 Old Republic Int'l. COM 680223104 2564 91522 SH SOLE 91522 59 2116 SH OTHER 01 2116 Park Place Entertainment COM 700690100 108 11727 SH SOLE 11727 Parker Hannifin Corp COM 701094104 918 20000 SH SOLE 20000 Pathmark Stores New Com COM 70322A101 5329 216100 SH SOLE 216100 Pfizer Co. COM 717081103 302 7578 SH SOLE 7578 Philip Morris COM 718154107 848 18500 SH SOLE 18500 Plum Creek Timber Co Inc REIT* COM 729251108 2265 79900 SH SOLE 79900 31 1100 SH OTHER 02 1100 Polyone Corp COM 73179P106 1392 142000 SH SOLE 142000 345 35200 SH OTHER 35200 Price Legacy Corp * COM 74144P106 7243 2292016 SH SOLE 1668953 623063 489 154646 SH OTHER 02 03 154646 ProAssurance Corporation COM 74267C106 392 22307 SH SOLE 22307 Pulitzer Inc COM 745769109 53517 1049361 SH SOLE 902661 146700 2488 48785 SH OTHER 02 03 01 48785 RFS Hotel Investors Inc * COM 74955J108 1239 108900 SH SOLE 108900 20 1800 SH OTHER 02 1800 Radioshack Corp. COM 750438103 2190 72760 SH SOLE 72760 Ralcorp Hldgs Inc New Com COM 751028101 14937 658020 SH SOLE 524020 134000 447 19700 SH OTHER 03 19700 Rent-A-Center Inc. COM 76009N100 1234 36750 SH SOLE 36750 Ross Stores Inc COM 778296103 4695 146361 SH SOLE 146361 390 12150 SH OTHER 02 01 12150 Sabre Holdings Corp. COM 785905100 1553 36674 SH SOLE 36674 Safeway Inc Com New COM 786514208 5367 128550 SH SOLE 128550 Saks, Inc. COM 79377w108 39886 4270502 SH SOLE 3904402 366100 1888 202117 SH OTHER 02 03 01 202117 Saxon Capital Acquisition Co COM 80556P104 850 85000 SH SOLE 85000 Scripps Co. Class A COM 811054204 9584 145210 SH SOLE 138210 7000 26 400 SH OTHER 02 400 Sears Roebuck & Co. COM 812387108 7437 156100 SH SOLE 156100 Shoney's, Inc. COM 825039100 452 1672324 SH SOLE 1672324 Shop At Home Inc. COM 825066301 68 25000 SH SOLE 25000 Shopko Stores COM 824911101 24491 2578008 SH SOLE 2059308 518700 869 91450 SH OTHER 02 03 01 91450 Southwest Airlines COM 844741108 4223 228491 SH SOLE 228491 Spherion Corporation COM 848420105 17766 1820236 SH SOLE 1464436 355800 1326 135825 SH OTHER 02 03 01 135825 Storage USA, Inc. * COM 861907103 509 12100 SH SOLE 12100 TBC Corp Com COM 872180104 4241 316700 SH SOLE 316700 TJX Companies COM 872540109 3698 92780 SH SOLE 92780 Target Corp COM 87612E106 10161 247520 SH SOLE 247520 Telephone & Data COM 879433100 35517 395730 SH SOLE 390480 5250 2096 23358 SH OTHER 02 01 23358 Toys R Us COM 892335100 4345 209500 SH SOLE 209500 Trenwick Group Ltd COM G9032C109 34341 3376703 SH SOLE 2875006 501697 1844 181310 SH OTHER 02 03 01 181310 Tupperware Corporation COM 899896104 77413 4021480 SH SOLE 3552480 469000 3761 195379 SH OTHER 02 03 01 195379 Tyco Intl Ltd New Com COM 902124106 308 5226 SH SOLE 5226 22 372 SH OTHER 02 372 UNUMProvident Corp. COM 91529y106 31721 1196580 SH SOLE 1175980 20600 1914 72195 SH OTHER 02 01 72195 US Airways Group COM 911905107 123 19386 SH SOLE 19386 US Unwired Inc -- Class A COM 90338R104 25485 2503481 SH SOLE 1965681 537800 928 91200 SH OTHER 03 91200 USA Networks Inc. COM 902984103 36055 1320230 SH SOLE 1295930 24300 2318 84890 SH OTHER 02 01 84890 Union Pacific Corp. COM 907818108 2849 49986 SH SOLE 49986 Union Planters COM 908068109 210 4650 SH SOLE 4650 Wabash National Corp COM 929566107 231 29583 SH SOLE 29583 Wal-Mart Stores COM 931142103 78624 1366178 SH SOLE 1366178 Walgreen Co. COM 931422109 6777 201330 SH SOLE 201330 Weatherford International COM 947074100 29258 785245 SH SOLE 774096 11149 2387 64055 SH OTHER 02 01 64055 XTO Energy Inc. COM 98385X106 12336 704925 SH SOLE 680175 24750 42 2400 SH OTHER 01 2400 Young Broadcasting Class A COM 987434107 52086 2901747 SH SOLE 2524047 377700 2547 141915 SH OTHER 02 03 01 141915 EchoStar Communications CNV 278762AD1 399 450000 PRN SOLE 450000 44 50000 PRN OTHER 02 50000 Interim Services Inc CNV 45868PAA8 894 1100000 PRN SOLE 1100000 41 50000 PRN OTHER 02 50000 Jumbosports Inc Conv org due CNV 481386AA8 0 150000 PRN SOLE 150000 Chevy Chase Svgs Bk 13.00% Pfd PFD 166784207 275 10000 SH SOLE 10000 Citizens Communications 6.75% PFD 17453B200 4171 179000 SH SOLE 179000 154 6600 SH OTHER 02 01 6600 FNMA Series F PFD 313586703 491 10000 SH SOLE 10000 Freddie Mac 4.50% Series Pfd PFD 313400764 970 20000 SH SOLE 20000 Freddie Mac 4.817% Series Pfd PFD 313400780 930 20000 SH SOLE 20000 Price Legacy 8.75% Series A PFD 74144P205 330 21968 SH SOLE 21968 Citizens Utils Tr Pfd Eppics C PFD CV 177351202 783 17600 SH SOLE 17600 18 400 SH OTHER 02 400 Corrections Corp of America 8% PFD CV 22025Y209 1421 76400 SH SOLE 76400