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 4,441 171,122 SH   SOLE   148,342 1,894 20,886
Aarons Inc COM 002535300 7,005 231,647 SH   SOLE   200,150 2,287 29,210
ABB LTD SPON ADR COM 000375204 6,376 247,236 SH   SOLE   21,896 87,256 138,084
ABERCROMBIE + FITCH CO CL A COMMON STOCK U COM 002896207 50 1,308 SH   SOLE   1,308 0 0
ABM INDUSTRIES INC COM 000957100 6,187 215,274 SH   SOLE   187,020 1,849 26,405
Ace Limited COM H0023R105 216 2,182 SH   SOLE   2,182 0 0
Acorda Therapeutics Inc COM 00484M106 58 1,526 SH   SOLE   1,526 0 0
AECOM TECH CORP DEL COM COM 00766T100 47 1,450 SH   SOLE   1,450 0 0
Aegion Corp COM 00770f104 3,550 140,269 SH   SOLE   121,128 1,348 17,793
Aegon Nv COM 007924103 7,005 761,463 SH   SOLE   66,144 276,404 418,915
AES CORP COMMON STOCK USD.01 COM 00130H105 65 4,533 SH   SOLE   4,533 0 0
AETNA INC NEW COM 00817y108 425 5,665 SH   SOLE   5,665 0 0
AFLAC INC COMMON STOCK USD.1 COM 001055102 2,885 45,759 SH   SOLE   41,355 4,126 278
AGCO Corp. COM 001084102 62 1,131 SH   SOLE   1,131 0 0
Agilent Technologies Inc COM 00846U101 119 2,134 SH   SOLE   490 1,644 0
AGRIUM INC COMMON STOCK NPV COM 008916108 7,147 73,288 SH   SOLE   10,755 25,135 37,398
AIRCASTLE LTD COM G0129k104 12,133 626,057 SH   SOLE   542,597 5,494 77,966
ALLIANT TECHSYSTEMS INC COM 018804104 12,086 85,025 SH   SOLE   73,767 713 10,545
Allianz SE - ADR (1 to 1/10 ALV GR) COM 018805101 5,946 352,858 SH   SOLE   33,949 124,133 194,776
ALLIED WORLD ASSUR NEW F COM H01531104 8,567 83,018 SH   SOLE   80,465 871 1,682
ALLSTATE CORPORATION COM 020002101 2,595 45,865 SH   SOLE   39,297 6,266 302
ALTRIA GROUP INC COM 02209s103 320 8,550 SH   SOLE   8,550 0 0
America Movil-ADR Series L COM 02364w105 6,276 315,676 SH   SOLE   28,077 113,239 174,360
American Axle & Mfg Hldgs COM 024061103 12,269 662,478 SH   SOLE   574,235 6,351 81,892
American International Group COM 026874784 218 4,352 SH   SOLE   4,352 0 0
AMERIPRISE FINANCIAL INC COMMON STOCK USD. COM 03076C106 128 1,163 SH   SOLE   270 893 0
AMN ELEC POWER CO COM 025537101 307 6,054 SH   SOLE   4,252 1,802 0
ANADARKO PETROLEUM CORP COM 032511107 3,002 35,412 SH   SOLE   32,046 3,151 215
APACHE CORP COM 037411105 324 3,904 SH   SOLE   3,904 0 0
APOLLO GROUP INC CL A COMMON STOCK NPV COM 037604105 54 1,572 SH   SOLE   1,572 0 0
APOLLO INVESTMENT CORP COM 03761U106 41 4,977 SH   SOLE   4,977 0 0
Apple Computer COM 037833100 2,740 5,105 SH   SOLE   4,629 446 30
Ares Capital Corp COM 04010l103 69 3,915 SH   SOLE   3,915 0 0
ARRIS GROUP INC COMMON STOCK USD.01 COM 04270V106 6,480 229,951 SH   SOLE   198,122 2,308 29,521
ARROW ELECTRONICS INC COMMON STOCK USD1.0 COM 042735100 220 3,705 SH   SOLE   1,819 1,886 0
Ashford Hospitality Trust COM 044103109 6,002 532,531 SH   SOLE   460,000 5,371 67,160
ASPEN INSURANCE HOLDINGF COM G05384105 8,376 210,973 SH   SOLE   183,355 1,828 25,790
Associated Banc Corp COM 045487105 11,978 663,214 SH   SOLE   572,755 6,024 84,435
ASSOCIATED ESTATE RLTY COM COM 045604105 4,317 254,821 SH   SOLE   219,304 2,421 33,096
ASTRAZENECA PLC ADR F SPONSORED ADR 1 ADR COM 046353108 8,787 135,439 SH   SOLE   47,682 37,316 50,441
AT& T INC COM 00206r102 2,716 77,443 SH   SOLE   68,817 8,080 546
ATWOOD OCEANICS INC COM 050095108 10,444 207,266 SH   SOLE   180,030 1,727 25,509
Avnet Inc Com COM 053807103 72 1,542 SH   SOLE   1,542 0 0
AXIS CAPITAL HOLDINGS LTD COMMON STOCK USD COM G0692U109 130 2,826 SH   SOLE   650 2,176 0
Banco Bilbao Vizcaya - ADR COM 05946K101 6,218 517,712 SH   SOLE   49,700 182,316 285,696
BANCO BRADESCO S A SP ADR PFD NEW COM 059460303 57 4,145 SH   SOLE   4,145 0 0
Banco De Chile - ADR COM 059520106 45 593 SH   SOLE   593 0 0
BANCO SANT SA ADR COM 05964H105 6,603 689,289 SH   SOLE   63,036 246,545 379,708
BANCO SANTANDER BRASIL-ADS COM 05967a107 48 8,545 SH   SOLE   8,545 0 0
BANCORPSOUTH INC COM 059692103 9,018 361,308 SH   SOLE   311,977 3,451 45,880
BANK OF AMERICA CORP COM 060505104 2,907 168,987 SH   SOLE   151,142 16,703 1,142
Bank of Montreal COM 063671101 50 752 SH   SOLE   752 0 0
Bank Of New York Mellon Corp. COM 064058100 2,747 77,843 SH   SOLE   69,892 7,449 502
Bank of Nova Scotia COM 064149107 48 822 SH   SOLE   822 0 0
Barclays PLC- ADR COM 06738E204 4,015 255,758 SH   SOLE   37,769 4,729 213,260
BARNES GROUP INC COM 067806109 5,639 146,584 SH   SOLE   126,841 1,491 18,252
BARRICK GOLD CORPORATION COM 067901108 48 2,713 SH   SOLE   2,713 0 0
Baxter International Inc COM 071813109 180 2,453 SH   SOLE   2,453 0 0
BB+T CORP COMMON STOCK USD5.0 COM 054937107 2,386 59,393 SH   SOLE   52,172 6,765 456
Bed Bath & Beyond Inc. COM 075896100 64 937 SH   SOLE   220 717 0
Bellatrix Exploration Ltd. COM 078314101 7,353 872,301 SH   SOLE   754,380 8,231 109,690
BEST BUY CO INC COM 086516101 103 3,900 SH   SOLE   3,900 0 0
BHP BILLITON LTD ADR F SPONSORED ADR 1 ADR COM 088606108 8,726 128,766 SH   SOLE   39,537 36,905 52,324
BIG LOTS INC COMMON STOCK USD.01 COM 089302103 5,171 136,559 SH   SOLE   118,192 1,277 17,090
Blackstone Group LP COM 09253u108 53 1,580 SH   SOLE   1,580 0 0
BP PLC ADR F SPONSORED ADR 1 ADR REP 6 ORD COM 055622104 8,936 185,783 SH   SOLE   66,411 50,161 69,211
Brady Corp WI CL A COM 104674106 3,842 141,497 SH   SOLE   123,176 1,138 17,183
Brandywine Rlty Tr Sh Ben Int New COM 105368203 10,811 747,625 SH   SOLE   651,580 3,750 92,295
BRINKER INTL INC COM 109641100 12,457 237,504 SH   SOLE   205,995 2,079 29,430
BRINKS CO COM 109696104 8,989 314,868 SH   SOLE   272,495 2,178 40,195
Broadcom Corp. COM 111320107 2,717 86,331 SH   SOLE   76,788 8,939 604
Brocade Communications COM 111621306 10,129 954,629 SH   SOLE   821,861 9,282 123,486
Brookfield Asset Mgmt COM 112585104 53 1,295 SH   SOLE   1,295 0 0
C A C I INC CL A COM 127190304 43 576 SH   SOLE   576 0 0
C B L & ASSOC PROPERTIES REIT COM 124830100 6,621 373,017 SH   SOLE   327,180 1,625 44,212
C&J Energy Services Inc COM 12467b304 56 1,925 SH   SOLE   1,925 0 0
CA INC COMMON STOCK USD.1 COM 12673P105 2,373 76,582 SH   SOLE   65,304 10,744 534
Cabot Corp. COM 127055101 12,585 213,080 SH   SOLE   184,657 1,898 26,525
CANADIAN IMPRL BK COMM COM COM 136069101 52 599 SH   SOLE   599 0 0
Canon Inc- ADR COM 138006309 6,266 201,743 SH   SOLE   18,015 72,869 110,859
CAPITAL ONE FINANCIAL CORP COMMON STOCK US COM 14040H105 222 2,878 SH   SOLE   2,878 0 0
Capstead Mortgage Cp New COM 14067e506 44 3,470 SH   SOLE   3,470 0 0
CARNIVAL CORP NEW F PAIRED STK SPECIAL VTG COM 143658300 42 1,100 SH   SOLE   1,100 0 0
CATERPILLAR INC COMMON STOCK USD1.0 COM 149123101 2,490 25,060 SH   SOLE   22,017 2,848 195
CELESTICA SUB VTG SHS COM 15101Q108 3,370 307,790 SH   SOLE   272,150 3,970 31,670
Cemig SA-Spons ADR COM 204409601 7,632 1,122,317 SH   SOLE   95,732 396,331 630,254
CENTURYLINK INC COMMON STOCK USD1.0 COM 156700106 229 6,970 SH   SOLE   6,970 0 0
CF INDUSTRIES HOLDINGS INC COMMON STOCK US COM 125269100 131 501 SH   SOLE   501 0 0
CHARLES RIVER LABORATORIES COMMON STOCK US COM 159864107 9,181 152,159 SH   SOLE   131,160 1,472 19,527
CHEMED CORP COM 16359r103 51 565 SH   SOLE   565 0 0
Chemical Financial Corp. COM 163731102 1,957 60,296 SH   SOLE   52,148 515 7,633
CHESAPEAKE ENERGY CORP COM 165167107 2,638 102,985 SH   SOLE   89,790 12,569 626
CHEVRON CORP COM 166764100 354 2,981 SH   SOLE   2,981 0 0
China Mobile LTD Spn ADR COM 16941m109 6,008 131,783 SH   SOLE   12,623 47,428 71,732
CHUBB CORP COM 171232101 85 950 SH   SOLE   950 0 0
CIA Vale Do Rio Doce - ADR COM 91912e105 6,123 442,712 SH   SOLE   42,395 160,231 240,086
CIGNA CORP COMMON STOCK USD.25 COM 125509109 366 4,371 SH   SOLE   2,982 1,389 0
Cirrus Logic Inc. COM 172755100 43 2,175 SH   SOLE   2,175 0 0
Cisco Systems Inc. COM 17275R102 3,092 137,940 SH   SOLE   125,198 11,937 805
CITIGROUP INC COM 172967424 2,498 52,482 SH   SOLE   47,517 4,650 315
City National Corp. COM 178566105 4,271 54,253 SH   SOLE   45,385 413 8,455
Cliffs Natural Resources Inc COM 18683k101 54 2,633 SH   SOLE   2,633 0 0
CNOOC LTD ADR COM 126132109 5,824 38,363 SH   SOLE   3,401 14,127 20,835
Coach Inc. COM 189754104 386 7,776 SH   SOLE   7,776 0 0
COEUR D ALENE MINES CORP COMMON STOCK USD. COM 192108504 5,608 603,617 SH   SOLE   520,962 6,141 76,514
COMERICA INC COM COM 200340107 148 2,853 SH   SOLE   660 2,193 0
COMPUTER SCIENCES CORP COMMON STOCK USD1.0 COM 205363104 147 2,413 SH   SOLE   560 1,853 0
CONOCOPHILLIPS COM 20825c104 3,635 51,674 SH   SOLE   46,582 4,771 321
Consolidated Edison Inc. COM 209115104 50 938 SH   SOLE   938 0 0
Cooper Tire And Rubber COM 216831107 4,542 186,911 SH   SOLE   161,251 1,820 23,840
CORNING INC COMMON STOCK USD.5 COM 219350105 2,890 138,828 SH   SOLE   123,438 14,418 972
COUSINS PROPERTIES INC COM 222795106 46 4,037 SH   SOLE   4,037 0 0
CRANE CO COMMON STOCK USD1.0 COM 224399105 9,560 134,369 SH   SOLE   113,986 2,608 17,775
Credit Suisse Grp Spons- ADR COM 225401108 6,140 189,636 SH   SOLE   16,514 67,297 105,825
CSG Systems Intl COM 126349109 3,513 134,907 SH   SOLE   116,510 1,297 17,100
CSX Corp COM 126408103 2,288 78,993 SH   SOLE   69,425 8,965 603
CTC Media Inc COM 12642x106 5,179 562,332 SH   SOLE   51,532 200,238 310,562
Curtiss-Wright Corp. COM 231561101 2,914 45,866 SH   SOLE   39,526 460 5,880
D S T SYSTEMS INC COM 233326107 9,151 96,540 SH   SOLE   83,040 970 12,530
Darden Restaurants Inc. COM 237194105 119 2,337 SH   SOLE   540 1,797 0
DEERE + CO COMMON STOCK USD1.0 COM 244199105 223 2,453 SH   SOLE   2,453 0 0
Delhaize Le Lion S A Adr COM 29759w101 6,358 87,489 SH   SOLE   7,761 31,746 47,982
DELTA AIR LINES INC COM 247361702 261 7,541 SH   SOLE   7,541 0 0
DENBURY RESOURCES INC COMMON STOCK USD.001 COM 247916208 188 11,455 SH   SOLE   5,683 5,772 0
Deutsche Bank AG REG COM D18190898 2,633 58,725 SH   SOLE   11,637 47,088 0
DEVON ENERGY CP NEW COM 25179m103 3,645 54,459 SH   SOLE   48,711 5,387 361
DIAMOND OFFSHORE DRILLING COMMON STOCK USD COM 25271C102 56 1,143 SH   SOLE   1,143 0 0
DirecTV Group Inc. COM 25490a309 243 3,174 SH   SOLE   3,174 0 0
DISCOVER FINANCIAL SERVICES COMMON STOCK U COM 254709108 235 4,045 SH   SOLE   4,045 0 0
DISNEY WALT CO COM 254687106 38 470 SH   SOLE   470 0 0
Donnelley (R R) & Sons Co COM 257867101 410 22,924 SH   SOLE   22,924 0 0
DUKE REALTY CORP REIT USD.01 COM 264411505 106 6,263 SH   SOLE   1,450 4,813 0
E M C Corp. COM 268648102 242 8,836 SH   SOLE   8,836 0 0
Eastman Chemical Co COM 277432100 124 1,442 SH   SOLE   1,442 0 0
Eaton Corporation PLC Ordinary COM G29183103 150 2,000 SH   SOLE   2,000 0 0
Ecopetrol SA-Sponsored ADR COM 279158109 54 1,334 SH   SOLE   1,334 0 0
EDISON INTERNATIONAL COMMON STOCK NPV COM 281020107 143 2,529 SH   SOLE   2,529 0 0
ELI LILLY & CO COM 532457108 305 5,182 SH   SOLE   5,182 0 0
EMCOR GROUP INC COM 29084Q100 5,392 115,241 SH   SOLE   100,100 1,031 14,110
EMERSON ELECTRIC CO COM 291011104 22 325 SH   SOLE   325 0 0
ENDURANCE SPECALTY HLDGF COM G30397106 8,625 160,221 SH   SOLE   139,617 1,551 19,053
ENERGIZER HOLDINGS INC COMMON STOCK USD.01 COM 29266R108 123 1,221 SH   SOLE   290 931 0
ENERGY XXI BERMUDA COM G10082140 5,006 212,380 SH   SOLE   183,365 2,035 26,980
ENERSYS COM 29275Y102 6,667 96,217 SH   SOLE   83,080 942 12,195
Eni S P A Sponsored ADR COM 26874r108 52 1,035 SH   SOLE   1,035 0 0
ENSCO PLC SPON ADR ADR USD.1 COM g3157s106 201 3,814 SH   SOLE   2,439 1,375 0
Entergy Corp COM 29364G103 72 1,071 SH   SOLE   1,071 0 0
EPIQ SYS INC COM COM 26882D109 1,745 128,001 SH   SOLE   111,198 1,120 15,683
ESTERLINE TECH CORP COM 297425100 6,631 62,244 SH   SOLE   53,615 583 8,046
Everest Reins Hldgs COM g3223r108 66 430 SH   SOLE   430 0 0
EXELIS INC COM 30162A108 65 3,407 SH   SOLE   3,407 0 0
EXELON CORP COMMON STOCK NPV COM 30161N101 277 8,240 SH   SOLE   8,240 0 0
EXXON MOBIL CORP COMMON STOCK NPV COM 30231G102 216 2,214 SH   SOLE   2,214 0 0
FEDERATED INVESTORS INC CL B COMMON STOCK COM 314211103 4,304 140,941 SH   SOLE   121,527 1,315 18,099
FEDEX CORPORATION COM 31428x106 2,182 16,462 SH   SOLE   14,557 1,785 120
Fidelity National Title - Class A COM 31620R105 10 331 SH   SOLE   331 0 0
FIFTH THIRD BANCORP COM 316773100 3,380 147,234 SH   SOLE   128,642 17,725 867
First American Financial COM 31847R102 41 1,556 SH   SOLE   1,556 0 0
First Horizon National Corp COM 320517105 9,806 794,620 SH   SOLE   691,335 7,680 95,605
First Midwest Bancorp, Inc. COM 320867104 3,889 227,698 SH   SOLE   197,720 1,828 28,150
First Niagara Financial Group COM 33582V108 9,590 1,014,771 SH   SOLE   881,717 9,693 123,361
First Solar Inc COM 336433107 88 1,260 SH   SOLE   1,260 0 0
FIRSTENERGY CORP COMMON STOCK USD.1 COM 337932107 123 3,611 SH   SOLE   3,611 0 0
FIRSTMERIT CORP COM 337915102 7,558 362,834 SH   SOLE   309,038 3,744 50,052
Ford Motor Co COM 345370860 2,841 182,104 SH   SOLE   164,859 16,133 1,112
Foster (LB) Co. - Class A COM 350060109 1,695 36,183 SH   SOLE   31,365 318 4,500
FREEPORT MCMORAN COPPER COMMON STOCK USD.1 COM 35671D857 229 6,918 SH   SOLE   6,918 0 0
FRONTIER COMMUNICATIONS CORP COM 35906a108 3 468 SH   SOLE   468 0 0
FULTON FINANCIAL CORP COM 360271100 8,821 701,171 SH   SOLE   605,605 6,746 88,820
GANNETT CO COMMON STOCK USD1.0 COM 364730101 61 2,196 SH   SOLE   2,196 0 0
Gap Inc. Co. COM 364760108 226 5,652 SH   SOLE   5,652 0 0
Gencorp Inc Com COM 368682100 44 2,406 SH   SOLE   2,406 0 0
GENERAL CABLE CP DE NEW COM 369300108 7,107 277,498 SH   SOLE   239,376 4,805 33,317
GENERAL DYNAMICS CORP COMMON STOCK USD1.0 COM 369550108 254 2,333 SH   SOLE   2,333 0 0
GENERAL ELECTRIC COMPANY COM 369604103 2,233 86,250 SH   SOLE   75,998 9,595 657
General Motors COM 37045V100 188 5,470 SH   SOLE   5,470 0 0
Gentiva Health Services COM 37247a102 1,264 138,616 SH   SOLE   120,285 1,314 17,017
GOLDMAN SACHS GROUP INC COM 38141g104 2,622 16,001 SH   SOLE   14,488 1,418 95
GOODYEAR TIRE + RUBBER CO COMMON STOCK NPV COM 382550101 71 2,724 SH   SOLE   2,724 0 0
Gran Tierra Energy Inc. COM 38500T101 4,665 623,701 SH   SOLE   538,850 6,211 78,640
HALLIBURTON CO COMMON STOCK USD2.5 COM 406216101 2,913 49,461 SH   SOLE   44,364 4,776 321
Hancock Hldg Co Com COM 410120109 10,965 299,172 SH   SOLE   260,040 2,592 36,540
HANOVER INSURANCE GROUP COM 410867105 13,432 218,612 SH   SOLE   190,590 1,887 26,135
HARRIS CORP COMMON STOCK USD1.0 COM 413875105 2,946 40,273 SH   SOLE   34,609 5,416 248
HARTFORD FINL SVCS GRP COM 416515104 3,078 87,278 SH   SOLE   75,589 11,184 505
Hawaiian Elec. Inds COM 419870100 8,984 353,407 SH   SOLE   302,340 7,017 44,050
HCA Holdings Inc COM 40412C101 54 1,025 SH   SOLE   1,025 0 0
HCC INSURANCE HOLDINGS INC COMMON STOCK US COM 404132102 66 1,450 SH   SOLE   1,450 0 0
Health Net Inc. COM 42222g108 49 1,450 SH   SOLE   1,450 0 0
HELEN OF TROY LTD F COM G4388N106 9,568 138,201 SH   SOLE   119,363 1,363 17,475
HESS CORP COMMON STOCK USD1.0 COM 42809H107 229 2,761 SH   SOLE   2,761 0 0
HEWLETT PACKARD CO COMMON STOCK USD.01 COM 428236103 3,136 96,911 SH   SOLE   87,503 8,810 598
Hillenbrand Inc COM 431571108 4,629 143,193 SH   SOLE   124,442 1,204 17,547
Hill-Rom Holdings Inc COM 431475102 7,983 207,145 SH   SOLE   180,788 1,739 24,618
HOLLYFRONTIER CORP COM 436106108 62 1,308 SH   SOLE   1,308 0 0
Home Loan Servicing Solutions COM G6648D109 9,020 417,582 SH   SOLE   363,103 3,899 50,580
HOSPITALITY PPTYS TRUST BENEFICIAL INTERES COM 44106M102 7,896 274,931 SH   SOLE   226,734 5,505 42,692
HSBC Hldgs PLC Spons-ADR COM 404280406 5,653 111,212 SH   SOLE   10,811 38,144 62,257
HUMANA INC COMMON STOCK USD.166 COM 444859102 247 2,190 SH   SOLE   2,190 0 0
Huntington Bancshares In COM 446150104 67 6,734 SH   SOLE   6,734 0 0
HUNTINGTON INGALLS INDUSTRIE COM 446413106 14 133 SH   SOLE   133 0 0
Huntsman Corp COM 447011107 147 6,025 SH   SOLE   1,410 4,615 0
Hyster-Yale Materials Class A COM 449172105 3,212 32,944 SH   SOLE   28,454 304 4,186
IDACORP INCORPORATED COM 451107106 10,529 189,816 SH   SOLE   165,170 1,401 23,245
Imperial Oil Ltd COM 453038408 54 1,159 SH   SOLE   1,159 0 0
Independent Bk Cp Mass Com COM 453836108 2,292 58,205 SH   SOLE   50,695 325 7,185
Info Systems Tech LTD ADR COM 456788108 5,523 101,934 SH   SOLE   9,041 37,070 55,823
ING GP NV SPSD ADR COM 456837103 6,207 435,613 SH   SOLE   42,251 154,155 239,207
Ingram Micro Inc COM 457153104 10,113 342,118 SH   SOLE   293,038 3,433 45,647
INGREDION INC COM COM 457187102 65 961 SH   SOLE   961 0 0
Integra Hldgs Corp. COM 457985208 5,450 118,500 SH   SOLE   102,830 1,070 14,600
Intel Corp COM 458140100 223 8,649 SH   SOLE   8,649 0 0
International Bncshrs Com COM 459044103 2,747 109,526 SH   SOLE   95,637 596 13,293
INTL BUSINESS MACHINES CORP COMMON STOCK U COM 459200101 2,981 15,489 SH   SOLE   14,005 1,390 94
INTL GAME TECHNOLOGY COMMON STOCK USD.0001 COM 459902102 2,266 161,165 SH   SOLE   139,209 20,970 986
Invesco Ltd COM g491bt108 135 3,653 SH   SOLE   850 2,803 0
Ishares Tr Russell 2000 COM 464287655 4,032 34,658 SH   SOLE   17,297 620 16,741
ITAU UNIBANCO HLDNG-PREF ADR COM 465562106 6,847 460,796 SH   SOLE   45,008 165,908 249,880
ITRON INC COM 465741106 4,580 128,871 SH   SOLE   111,646 1,225 16,000
ITT CORP COMMON STOCK USD1.0 COM 450911201 8,640 202,053 SH   SOLE   173,835 2,008 26,210
JABIL CIRCUIT INC COM 466313103 428 23,798 SH   SOLE   23,798 0 0
Janus Capital Group, Inc. COM 47102x105 7,585 697,816 SH   SOLE   604,455 6,256 87,105
JOY GLOBAL INC COMMON STOCK USD1.0 COM 481165108 68 1,165 SH   SOLE   1,165 0 0
JPMORGAN CHASE & CO COM 46625h100 3,139 51,712 SH   SOLE   47,083 4,338 291
KB Financial Group Inc-ADR COM 48241a105 5,974 169,968 SH   SOLE   16,634 59,499 93,835
KBR Inc. COM 48242W106 103 3,857 SH   SOLE   890 2,967 0
Keycorp COM 493267108 2,943 206,650 SH   SOLE   178,116 27,251 1,283
Kindred Healthcare Inc. COM 494580103 4,141 176,816 SH   SOLE   152,250 1,826 22,740
KINROSS GOLD CORP COM 496902404 2,959 714,710 SH   SOLE   66,670 259,705 388,335
KKR Financial Corp COM 48248a306 5,372 464,310 SH   SOLE   400,502 1,833 61,975
KLA-TENCOR Corp COM 482480100 130 1,881 SH   SOLE   440 1,441 0
Kohls Corp. COM 500255104 2,865 50,446 SH   SOLE   43,917 6,220 309
Koppers COM 50060P106 4,728 114,685 SH   SOLE   99,051 1,133 14,501
KROGER CO COMMON STOCK USD1.0 COM 501044101 652 14,941 SH   SOLE   14,941 0 0
Kulicke & Soffa Industries COM 501242101 6,814 540,375 SH   SOLE   467,093 5,214 68,068
L 3 COMMUNICATIONS HLDGS INC COMMON STOCK COM 502424104 3,290 27,850 SH   SOLE   24,243 3,434 173
Laboratory Corp. Of America Holdings COM 50540r409 71 718 SH   SOLE   718 0 0
Lakeland Financial Corp. COM 511656100 2,562 63,697 SH   SOLE   55,495 367 7,835
Lear Corp. COM 521865204 163 1,943 SH   SOLE   450 1,493 0
Leucadia National Corp COM 527288104 65 2,310 SH   SOLE   2,310 0 0
LEXMARK INTL INC CL A CLASS A COM 529771107 55 1,179 SH   SOLE   1,179 0 0
LIFEPOINT HOSPITALS INC COM 53219L109 9,344 171,299 SH   SOLE   147,976 1,443 21,880
LIFETIME FITNESS COM 53217R207 6,890 143,253 SH   SOLE   123,770 1,393 18,090
LINCOLN NATIONAL CORP COMMON STOCK NPV COM 534187109 263 5,193 SH   SOLE   2,925 2,268 0
LORILLARD INC COMMON STOCK USD.01 COM 544147101 91 1,689 SH   SOLE   390 1,299 0
LOWES COMPANIES INC COM 548661107 176 3,600 SH   SOLE   3,600 0 0
LYONDELLBASELL INDU-CL A COM N53745100 251 2,823 SH   SOLE   2,823 0 0
M D C Hldgs Inc Com COM 552676108 39 1,367 SH   SOLE   1,367 0 0
M&T Bank Corporation COM 55261F104 121 997 SH   SOLE   997 0 0
MACK CALI REALTY CORP REIT USD.01 COM 554489104 7,141 343,473 SH   SOLE   297,325 1,940 44,208
Macy's Inc. COM 55616p104 245 4,135 SH   SOLE   4,135 0 0
Magellan Health Services Inc. COM 559079207 43 731 SH   SOLE   731 0 0
Magna International CL A VTG COM 559222401 60 623 SH   SOLE   623 0 0
MARATHON OIL CORP COM 565849106 347 9,760 SH   SOLE   7,168 2,592 0
Marathon Petroleum Corp COM 56585a102 216 2,482 SH   SOLE   2,482 0 0
Marvell Technology Group Ltd COM G5876H105 7,151 454,060 SH   SOLE   41,827 163,980 248,253
Matthews International Corp COM 577128101 2,869 70,303 SH   SOLE   61,035 738 8,530
Mentor Graphics Corp COM 587200106 9,752 442,854 SH   SOLE   382,505 4,319 56,030
MERCK + CO. INC. COMMON STOCK USD.01 COM 58933Y105 252 4,431 SH   SOLE   4,431 0 0
MEREDITH CORP COM 589433101 8,838 190,345 SH   SOLE   165,017 1,682 23,646
Meritage Corp. COM 59001A102 38 913 SH   SOLE   913 0 0
METLIFE INC COMMON STOCK USD.01 COM 59156R108 2,816 53,334 SH   SOLE   48,293 4,720 321
MICROSEMI CORPORATION COM 595137100 11,627 464,529 SH   SOLE   401,833 4,546 58,150
MICROSOFT CORP COM 594918104 3,298 80,469 SH   SOLE   72,797 7,187 485
Mitsubishi UFJ Financial Group Inc. ADS COM 606822104 5,932 1,070,684 SH   SOLE   103,789 379,127 587,768
Mizuho Finl Group Inc. COM 60687Y109 46 11,571 SH   SOLE   11,571 0 0
MOLSON COOR BREW CO CL B COM 60871r209 138 2,350 SH   SOLE   550 1,800 0
MONTPELIER RE HLDGS LTD COM G62185106 4,667 156,808 SH   SOLE   136,245 1,378 19,185
Mosaic Co/The COM 61945c103 237 4,735 SH   SOLE   4,735 0 0
MURPHY OIL CORP COMMON STOCK USD1.0 COM 626717102 234 3,716 SH   SOLE   2,273 1,443 0
Nabors Industries Ltd. COM G6359F103 481 19,495 SH   SOLE   19,495 0 0
NASDAQ OMX GROUP/THE COMMON STOCK USD.01 COM 631103108 144 3,886 SH   SOLE   900 2,986 0
NATIONAL OILWELL VARCO INC COMMON STOCK US COM 637071101 216 2,774 SH   SOLE   2,774 0 0
NBT Bancorp COM 628778102 2,356 96,322 SH   SOLE   83,419 920 11,983
NCR Corp COM 62886E108 192 5,263 SH   SOLE   2,685 2,578 0
NELNET INC CL A COM 64031N108 2,930 71,631 SH   SOLE   62,347 424 8,860
NEWMONT MINING CORP COM 651639106 1,417 60,455 SH   SOLE   54,780 5,312 363
Nippon Teleg Adr COM 654624105 6,203 227,715 SH   SOLE   22,753 84,262 120,700
Nomura Hldg Inc Spons- ADR COM 65535H208 5,958 926,578 SH   SOLE   88,698 329,068 508,812
NORFOLK SOUTHERN CORP COMMON STOCK USD1.0 COM 655844108 130 1,336 SH   SOLE   310 1,026 0
NORTHROP GRUMMAN CORP COM 666807102 238 1,932 SH   SOLE   1,932 0 0
Northwestern Corp COM 668074305 47 998 SH   SOLE   998 0 0
NTT Docomo Inc Spons- ADR COM 62942M201 48 3,064 SH   SOLE   3,064 0 0
NUCOR CORP COMMON STOCK USD.4 COM 670346105 108 2,143 SH   SOLE   490 1,653 0
OCCIDENTAL PETE CORP COM 674599105 291 3,049 SH   SOLE   3,049 0 0
Oil States International Inc COM 678026105 107 1,087 SH   SOLE   250 837 0
Olin Corp COM 680665205 10,814 391,670 SH   SOLE   340,692 3,308 47,670
Omega Healthcare Investors COM 681936100 8,268 246,665 SH   SOLE   206,645 2,635 37,385
Oracle Corp COM 68389X105 290 7,083 SH   SOLE   7,083 0 0
Oshkosh Truck Corp. COM 688239201 130 2,216 SH   SOLE   520 1,696 0
OWENS &MINOR INC HLDG CO COM 690732102 9,176 261,951 SH   SOLE   228,998 1,929 31,024
OWENS ILLINOIS INC COMMON STOCK USD.01 COM 690768403 158 4,664 SH   SOLE   1,080 3,584 0
P G + E CORP COMMON STOCK NPV COM 69331C108 240 5,563 SH   SOLE   5,563 0 0
PAN AMERICAN SILVER CP F COM 697900108 6,629 515,038 SH   SOLE   444,524 5,242 65,272
PartnerRe Ltd. COM G6852T105 121 1,169 SH   SOLE   270 899 0
Pennsylvania Rl Est Tr Sh Ben Int COM 709102107 6,711 371,791 SH   SOLE   323,055 3,261 45,475
Petroleo Brasileiro S/A COM 71654v408 6,003 456,473 SH   SOLE   44,846 162,855 248,772
PFIZER INCORPORATED COM 717081103 381 11,851 SH   SOLE   11,851 0 0
PHILIP MORRIS INTL INC COM 718172109 94 1,150 SH   SOLE   1,150 0 0
Phillips 66 COM 718546104 282 3,657 SH   SOLE   3,657 0 0
PITNEY BOWES INC COM 724479100 71 2,723 SH   SOLE   2,723 0 0
PLANTRONICS INC COM 727493108 9,850 221,588 SH   SOLE   192,970 1,643 26,975
PLATINUM UNDERWRITERS F COM G7127P100 6,140 102,159 SH   SOLE   89,127 994 12,038
PNC FINL SERVICES GP INC COM 693475105 3,240 37,242 SH   SOLE   33,710 3,309 223
Portland General Electric COM 736508847 10,319 319,088 SH   SOLE   277,540 2,764 38,784
Potash Corp. Saskatchewan COM 73755l107 55 1,525 SH   SOLE   1,525 0 0
PPL CORPORATION COMMON STOCK USD.01 COM 69351T106 367 11,087 SH   SOLE   8,266 2,821 0
PRINCIPAL FINANCIAL GROUP COMMON STOCK USD COM 74251V102 47 1,017 SH   SOLE   1,017 0 0
Proassurance Corp. COM 74267c106 40 897 SH   SOLE   897 0 0
Prospect Capital Corp. COM 74348T102 2,644 244,784 SH   SOLE   204,388 2,783 37,613
Prosperity Bancshares Inc. COM 743606105 7,188 108,658 SH   SOLE   91,408 953 16,297
PROTECTIVE LIFE CORP COM 743674103 11,502 218,707 SH   SOLE   187,701 2,036 28,970
PRUDENTIAL FINANCIAL INC COMMON STOCK USD. COM 744320102 206 2,431 SH   SOLE   2,431 0 0
PUBLIC SERVICE ENTERPRISE GP COMMON STOCK COM 744573106 267 6,998 SH   SOLE   6,998 0 0
Qlogic Corp. COM 747277101 9,920 778,002 SH   SOLE   672,840 7,132 98,030
QUALCOMM INC COMMON STOCK USD.0001 COM 747525103 2,370 30,050 SH   SOLE   26,422 3,398 230
Quest Diagnostics Inc. COM 74834L100 2,823 48,748 SH   SOLE   43,714 4,712 322
QUESTCOR PHARMACEUTICALS COM 74835Y101 52 806 SH   SOLE   806 0 0
Rait Financial Trust COM 749227609 8,534 1,005,185 SH   SOLE   867,825 9,922 127,438
Regions Financial Corp. New COM 7591ep100 280 25,165 SH   SOLE   14,557 10,608 0
Rent-A-Center Inc. COM 76009n100 34 1,284 SH   SOLE   1,284 0 0
REYNOLDS AMERICAN INC COM 761713106 139 2,600 SH   SOLE   2,600 0 0
Rock-Tenn COM 772739207 125 1,183 SH   SOLE   270 913 0
Rogers Communications B COM 775109200 47 1,128 SH   SOLE   1,128 0 0
Rosetta Resources Inc COM 777779307 43 930 SH   SOLE   930 0 0
ROVI CORP COM 779376102 48 2,102 SH   SOLE   2,102 0 0
Royal Bank of Canada COM 780087102 50 753 SH   SOLE   753 0 0
ROYAL DUTCH SHELL PLC ADR ADR COM 780259206 6,776 92,745 SH   SOLE   8,872 32,668 51,205
RYDER SYSTEM INC COM 783549108 13,930 174,297 SH   SOLE   148,690 2,682 22,925
Ryland Group Inc Com COM 783764103 40 1,011 SH   SOLE   1,011 0 0
SANDERSON FARMS INC COMMON STOCK USD1.0 COM 800013104 46 590 SH   SOLE   590 0 0
Sandisk Corp. COM 80004C101 202 2,490 SH   SOLE   2,490 0 0
Sanmina Corp COM 801056102 4,577 262,302 SH   SOLE   226,938 2,499 32,865
Schulman A Inc Com COM 808194104 3,311 91,314 SH   SOLE   79,515 774 11,025
SEADRILL LTD COM G7945E105 44 1,242 SH   SOLE   1,242 0 0
Seagate Technology COM G7945M107 217 3,861 SH   SOLE   3,861 0 0
SECTOR SPDR FINANCIAL COM 81369y605 161 7,200 SH   SOLE   7,200 0 0
SELECT MEDICAL HOLDINGS CORP COM 81619Q105 7,634 613,200 SH   SOLE   530,178 5,892 77,130
SENIOR HOUSING PROP TRUST REIT USD.01 COM 81721M109 91 4,030 SH   SOLE   920 3,110 0
Shaw Communications Inc. B COM 82028k200 65 2,737 SH   SOLE   640 2,097 0
SHINHAN FINANCIAL GP SPN ADR RESTRD COM 824596100 51 1,167 SH   SOLE   1,167 0 0
Siemens AG ADR COM 826197501 6,195 45,840 SH   SOLE   4,055 16,364 25,421
SK TELECOM ADR COM 78440P108 6,428 284,801 SH   SOLE   27,372 102,242 155,187
Skyworks Solutions, Inc. COM 83088M102 88 2,341 SH   SOLE   2,341 0 0
SLM CORP COMMON STOCK USD.2 COM 78442P106 107 4,375 SH   SOLE   4,375 0 0
SMITH-NPHW PLC SPADR NEW COM 83175M205 5,974 78,118 SH   SOLE   7,019 28,132 42,967
Sonic Automotive Inc Cl A COM 83545G102 41 1,808 SH   SOLE   1,808 0 0
Southern Copper Corp. COM 84265V105 67 2,317 SH   SOLE   2,317 0 0
St Jude Medical Inc COM 790849103 3,087 47,202 SH   SOLE   40,967 5,934 301
Standard Pacific Corporation COM 85375C101 40 4,842 SH   SOLE   4,842 0 0
STAPLES INC COM 855030102 2,069 182,458 SH   SOLE   159,241 22,130 1,087
StatoilHydro ASA COM 85771p102 7,275 257,795 SH   SOLE   25,463 90,975 141,357
Steel Dynamics Inc Com COM 858119100 7,894 443,735 SH   SOLE   374,669 4,521 64,545
Stone Energy Corp COM 861642106 55 1,321 SH   SOLE   1,321 0 0
SUMITOMO MITSUI-SPONS ADR COM 86562M209 5,829 673,897 SH   SOLE   64,662 236,345 372,890
Sun Life Financial Inc. COM 866796105 50 1,454 SH   SOLE   1,454 0 0
Suncor Energy Inc. COM 867224107 6,532 186,836 SH   SOLE   18,021 65,717 103,098
SUNTRUST BANKS INC COM 867914103 2,830 71,130 SH   SOLE   61,493 9,189 448
SUPERIOR ENERGY SERVICES COM 868157108 7,012 227,960 SH   SOLE   185,781 2,822 39,357
SUSQUEHANNA BANCSHARES INC. COM 869099101 39 3,404 SH   SOLE   3,404 0 0
Sykes Enterprises Inc Com COM 871237103 2,443 122,972 SH   SOLE   106,249 1,148 15,575
SYMANTEC CORP COMMON STOCK USD.01 COM 871503108 654 32,727 SH   SOLE   27,376 5,351 0
SYMETRA FINANCIAL CORP COM 87151q106 5,361 270,469 SH   SOLE   235,390 2,079 33,000
SYNAPTICS INC COM 87157D109 52 864 SH   SOLE   864 0 0
SYNOPSYS INC COMMON STOCK USD.01 COM 871607107 118 3,082 SH   SOLE   700 2,382 0
Taiwan S. Manufacturing ADR COM 874039100 59 2,957 SH   SOLE   2,957 0 0
Take-Two Interactive Software COM 874054109 53 2,426 SH   SOLE   2,426 0 0
TATA MTRS LTD SPONSORED ADR COM 876568502 7,061 199,412 SH   SOLE   18,094 71,872 109,446
TCF Financial Corp. Com COM 872275102 4,817 289,163 SH   SOLE   250,779 2,597 35,787
Tech Data Corp. COM 878237106 5,211 85,484 SH   SOLE   73,736 970 10,778
Teck Cominco Ltd.- Cl. B COM 878742204 43 1,978 SH   SOLE   1,978 0 0
TECO ENERGY INC COM 872375100 3,001 174,987 SH   SOLE   123,255 3,282 48,450
Telefonica Brasil SA COM 87936r106 56 2,627 SH   SOLE   2,627 0 0
Telefonica SA Spain ADR COM 879382208 6,057 383,587 SH   SOLE   34,026 137,225 212,336
Teva Pharmaceutical Industries Ltd. COM 881624209 9,687 183,323 SH   SOLE   60,036 52,399 70,888
THE JONES GROUP INC COM 48020T101 8,729 583,079 SH   SOLE   504,607 5,216 73,256
THERMO FISHER SCIENTIFIC INC COMMON STOCK COM 883556102 2,824 23,488 SH   SOLE   21,011 2,322 155
Toronto-Dominion Bank COM 891160509 51 1,088 SH   SOLE   1,088 0 0
Total SA ADR COM 89151E109 6,498 99,061 SH   SOLE   9,620 35,594 53,847
Toyota Motor Corp. ADR COM 892331307 47 416 SH   SOLE   416 0 0
TRANSOCEAN LTD COM h8817h100 187 4,519 SH   SOLE   4,519 0 0
TRAVELERS COS INC/THE COMMON STOCK NPV COM 89417E109 211 2,477 SH   SOLE   2,477 0 0
Trinity Industries COM 896522109 395 5,483 SH   SOLE   5,483 0 0
TRIPLE-S MANAGEMENT CORP-B COM 896749108 2,130 131,954 SH   SOLE   113,949 1,263 16,742
Triumph Group Inc New Com COM 896818101 55 854 SH   SOLE   854 0 0
TTM Technologies COM 87305r109 1,605 189,954 SH   SOLE   165,409 1,659 22,886
Turkcell iletism adr COM 900111204 54 3,924 SH   SOLE   3,924 0 0
TUTOR PERINI CORP COM 901109108 10,088 351,871 SH   SOLE   304,963 3,143 43,765
Two Harbors Investment Corp COM 90187B101 135 13,146 SH   SOLE   2,990 10,156 0
U S BANCORP DEL NEW COM 902973304 278 6,484 SH   SOLE   6,484 0 0
UBS AG COM h89231338 5,959 287,607 SH   SOLE   0 105,641 181,966
Ultra Petroleum Corp COM 903914109 10,324 383,930 SH   SOLE   330,380 3,790 49,760
Umpqua Holdings Corp. COM 904214103 4,193 224,959 SH   SOLE   195,115 2,374 27,470
Unisys Corp. COM 909214306 4,024 132,123 SH   SOLE   114,150 1,313 16,660
Unit Corporation COM 909218109 11,483 175,634 SH   SOLE   151,884 1,688 22,062
UNITED TECHNOLOGIES CORP COM 913017109 140 1,200 SH   SOLE   1,200 0 0
UNITEDHEALTH GROUP INC COM 91324p102 637 7,768 SH   SOLE   7,768 0 0
UNUM GROUP COMMON STOCK USD.1 COM 91529Y106 197 5,565 SH   SOLE   2,741 2,824 0
URS CORP COMMON STOCK USD.01 COM 903236107 8,305 176,474 SH   SOLE   152,201 3,468 20,805
VALERO ENERGY CORP NEW COM 91913y100 3,367 63,412 SH   SOLE   55,546 7,505 361
VERIZON COMMUNICATIONS COM 92343v104 93 1,950 SH   SOLE   1,950 0 0
Vishay Intertech COM 928298108 10,531 707,752 SH   SOLE   611,335 6,597 89,820
WASHINGTON FEDERAL INC SEATTLE COM 938824109 9,281 398,307 SH   SOLE   344,085 3,857 50,365
WASTE MANAGEMENT INC COM 94106l109 117 2,792 SH   SOLE   640 2,152 0
Webster Finl Corp Waterbury COM 947890109 6,128 197,286 SH   SOLE   171,598 1,558 24,130
WELLPOINT INC COMMON STOCK USD.01 COM 94973V107 246 2,467 SH   SOLE   2,467 0 0
WELLS FARGO & CO NEW COM 949746101 3,270 65,734 SH   SOLE   59,673 5,676 385
WesBanco Inc. COM 950810101 2,811 88,322 SH   SOLE   75,917 324 12,081
WESTERN DIGITAL CORP COMMON STOCK USD.01 COM 958102105 243 2,650 SH   SOLE   2,650 0 0
WESTERN UN CO COM 959802109 534 32,657 SH   SOLE   28,530 4,127 0
Wiley John & Sons CL A COM 968223206 5,630 97,669 SH   SOLE   84,971 828 11,870
Wintrust Finl Corp Com COM 97650W108 9,909 203,641 SH   SOLE   176,459 1,837 25,345
Worthington Industries Inc COM 981811102 7,421 194,015 SH   SOLE   168,549 1,688 23,778
XCEL Energy Inc. COM 98389B100 56 1,829 SH   SOLE   1,829 0 0
XEROX CORP COMMON STOCK USD1.0 COM 984121103 107 9,484 SH   SOLE   9,484 0 0
XL GROUP PLC COMMON STOCK USD.01 COM G98290102 67 2,133 SH   SOLE   2,133 0 0
YAMANA GOLD INC COM 98462y100 4,534 516,384 SH   SOLE   163,638 152,217 200,529
ZIMMER HOLDINGS INC COM 98956p102 145 1,531 SH   SOLE   360 1,171 0