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
1ST UNITED BANCORP INC COM 33740N105 503 68,613 SH   SOLE   68,613 0 0
AECOM TECHNOLOGY CORP COM 00766T100 22,040 704,826 SH   SOLE   691,461 0 13,365
AEGION CORP COM 00770F104 522 22,000 SH   SOLE   22,000 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 67,462 1,316,336 SH   SOLE   1,292,231 0 24,105
ALCOA INC COM 013817101 1,529 188,260 SH   SOLE   188,260 0 0
AMERICAN EAGLE OUTFITTERS COM 02553E106 1,160 82,905 SH   SOLE   82,905 0 0
APPLE COMPUTER COM 037833100 8,210 17,221 SH   SOLE   17,221 0 0
ARCHER DANIELS MIDLD COM 039483102 40,713 1,105,134 SH   SOLE   1,083,199 0 21,935
ASPEN INSURANCE HOLDINGS COM G05384105 34,295 945,029 SH   SOLE   925,344 0 19,685
ASSURANT INC COM 04621X108 3,661 67,680 SH   SOLE   67,680 0 0
ATLAS AIR WORLDWIDE COM 049164205 66,154 1,437,194 SH   SOLE   1,413,119 0 24,075
AVNET INC COM 053807103 74,131 1,777,297 SH   SOLE   1,744,497 0 32,800
BAKER HUGHES INC CMN COM 057224107 56,527 1,151,265 SH   SOLE   1,128,725 0 22,540
BANK OF AMERICA CORP COM 060505104 9,287 672,975 SH   SOLE   672,975 0 0
BARNES GROUP INC COM 067806109 55,996 1,603,549 SH   SOLE   1,571,759 0 31,790
BIG LOTS INC COM 089302103 76,855 2,072,113 SH   SOLE   2,037,003 0 35,110
BLACK BOX CORP DEL COM COM 091826107 1,922 62,725 SH   SOLE   62,725 0 0
BODY CENTRAL CORP COM 09689U102 606 99,380 SH   SOLE   99,380 0 0
BP PLC SPONS ADR COM 055622104 35,036 833,592 SH   SOLE   822,157 0 11,435
CARBO CERAMICS INC COM 140781105 1,311 13,230 SH   SOLE   13,230 0 0
CARRIZO OIL & GAS COM 144577103 2,153 57,730 SH   SOLE   57,730 0 0
CB FINANCIAL SERVICES INC COM 12479G101 250 10,000 SH   SOLE   10,000 0 0
CHESAPEAKE ENERGY CORP COM 165167107 62,196 2,403,259 SH   SOLE   2,347,704 0 55,555
CISCO SYS INC COM 17275R102 226 9,641 SH   SOLE   9,641 0 0
COMMUNITY HLTH SYS COM 203668108 76,648 1,846,931 SH   SOLE   1,822,256 0 24,675
CONOCOPHILLIPS COM 20825C104 3,083 44,355 SH   SOLE   44,355 0 0
COWEN GROUP INC COM 223622101 529 153,771 SH   SOLE   153,771 0 0
DEVON ENERGY CORPORATION NEW COM 25179M103 3,877 67,120 SH   SOLE   67,120 0 0
DFC GLOBAL CORP COM 23324T107 988 89,945 SH   SOLE   89,945 0 0
DUCOMMUN INC COM 264147109 1,201 41,880 SH   SOLE   41,880 0 0
E I DU PONT DE NEMOURS & CO COM 263534109 302 5,150 SH   SOLE   5,150 0 0
EATON CORPORATION COM g29183103 69,334 1,007,172 SH   SOLE   988,032 0 19,140
ENDO PHARMACEUTICALS HLDGS INC COM 29264F205 2,661 58,555 SH   SOLE   58,555 0 0
ENDURANCE SPECIALTY COM G30397106 732 13,632 SH   SOLE   13,632 0 0
EXPRESS INC COM 30219e103 472 20,000 SH   SOLE   20,000 0 0
FIRST NIAGARA FINL GROUP INC COM 33582V108 70,337 6,782,770 SH   SOLE   6,663,545 0 119,225
FNB CORPORATION COM 302520101 1,301 107,270 SH   SOLE   107,270 0 0
FORD MOTOR CO NEW COM 345370860 844 50,000 SH   SOLE   50,000 0 0
GENERAL DYNAMICS CORP COM 369550108 28,210 322,329 SH   SOLE   315,374 0 6,955
GENERAL ELECTRIC CO COM 369604103 2,708 113,372 SH   SOLE   113,372 0 0
GENERAL MOTORS ESCROW SHARES COM 370ESCBQ7 0 2,000,000 SH   SOLE   2,000,000 0 0
GENWORTH FINANCIAL INC CMN CLA COM 37247D106 16,147 1,261,449 SH   SOLE   1,261,449 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 3,081 19,471 SH   SOLE   19,471 0 0
GRAFTECH INTERNATIONAL LTD COM 384313102 2,476 293,045 SH   SOLE   293,045 0 0
HARTFORD FINANCIAL SERVICES COM 416515104 76,013 2,442,569 SH   SOLE   2,402,734 0 39,835
HEALTH MGMT ASSOC INC CL A COM 421933102 41,684 3,256,589 SH   SOLE   3,193,924 0 62,665
HEALTH NET INC COM 42222G108 4,273 134,786 SH   SOLE   134,786 0 0
HEWLETT PACKARD CO COM 428236103 9,728 463,465 SH   SOLE   463,465 0 0
HIGHWOODS PROP COM 431284108 1,172 33,202 SH   SOLE   33,202 0 0
HOSPIRA INC COM 441060100 31,831 811,590 SH   SOLE   795,025 0 16,565
INTEGRA LIFE SCIENCES HOLDING COM 457985208 1,949 48,430 SH   SOLE   48,430 0 0
INTL PAPER CO COM 460146103 53,336 1,190,526 SH   SOLE   1,165,756 0 24,770
INVACARE CORPORATION COM 461203101 1,798 104,095 SH   SOLE   104,095 0 0
ION GEOPHYSICAL CORP COM 462044108 3,454 664,175 SH   SOLE   664,175 0 0
JOHNSON & JOHNSON COM 478160104 280 3,235 SH   SOLE   3,235 0 0
JOHNSON CONTROLS INC COM 478366107 51,883 1,250,192 SH   SOLE   1,223,227 0 26,965
JPMORGAN CHASE & CO COM 46625H100 41,904 810,670 SH   SOLE   799,530 0 11,140
KBR INC COM 48242W106 7,255 222,265 SH   SOLE   222,265 0 0
KENNAMETAL INC COM 489170100 75,438 1,654,345 SH   SOLE   1,626,135 0 28,210
KEYCORP NEW COM COM 493267108 56,697 4,973,412 SH   SOLE   4,866,352 0 107,060
KOHLS CORP COM 500255104 11,581 223,785 SH   SOLE   223,785 0 0
LMI AEROSPACE INC COM 502079106 647 48,395 SH   SOLE   48,395 0 0
LSB INDUSTRIES INC COM 502160104 504 15,045 SH   SOLE   15,045 0 0
MACYS INC COM 55616P104 58,051 1,341,597 SH   SOLE   1,316,552 0 25,045
MARVELL TECH GROUP LTD ORD COM G5876H105 8,282 720,182 SH   SOLE   720,182 0 0
MCDERMOTT INTERNATIONAL INC COM 580037109 1,213 163,205 SH   SOLE   163,205 0 0
MEDIFAST INC COM 58470H101 1,536 57,105 SH   SOLE   57,105 0 0
MERCK & CO INC COM 58933Y105 256 5,385 SH   SOLE   5,385 0 0
METLIFE COM 59156R108 78,955 1,681,688 SH   SOLE   1,655,573 0 26,115
MICROSOFT CORP COM 594918104 11,731 352,504 SH   SOLE   352,504 0 0
MODINE MANUFACTURING CO COM 607828100 1,481 101,225 SH   SOLE   101,225 0 0
MYRIAD GENETICS INC CMN COM 62855J104 326 13,875 SH   SOLE   13,875 0 0
NABORS INDUSTRIES LTD SHS COM G6359F103 46,074 2,868,859 SH   SOLE   2,816,224 0 52,635
NN INC COM 629337106 651 41,835 SH   SOLE   41,835 0 0
NOBLE CORPORATION COM H5833N103 5,207 137,872 SH   SOLE   137,872 0 0
OM GROUP INC COM 670872100 36,030 1,066,610 SH   SOLE   1,043,585 0 23,025
OMEGA PROTEIN CORP COM 68210P107 307 30,235 SH   SOLE   30,235 0 0
ORBOTECH LTD COM M75253100 701 58,505 SH   SOLE   58,505 0 0
ORTHOFIX INTERNATIONAL NV COM N6748L102 2,156 103,815 SH   SOLE   103,815 0 0
PATTERSON UTI ENERGY INC COM 703481101 60,150 2,813,358 SH   SOLE   2,760,808 0 52,550
PBF ENERGY INC CL A COM 69318G106 40,044 1,783,685 SH   SOLE   1,751,785 0 31,900
PHILLIPS 66 COM 718546104 9,562 165,381 SH   SOLE   165,381 0 0
PNC FINL SVCS GROUP COM COM 693475105 3,376 46,600 SH   SOLE   46,600 0 0
PROCTER & GAMBLE CO COM 742718109 202 2,670 SH   SOLE   2,670 0 0
PROTECTIVE LIFE CORP COM COM 743674103 3,818 89,740 SH   SOLE   89,740 0 0
QUALITY SYSTEMS INC COM 747582104 30,886 1,421,366 SH   SOLE   1,394,076 0 27,290
RIO TINTO PLC COM 767204100 55,868 1,145,782 SH   SOLE   1,126,412 0 19,370
ROYAL CARIBBEAN CRUISES COM V7780T103 12,746 332,965 SH   SOLE   332,965 0 0
SILICON GRAPHICS INC DEL COM 82706L108 2,947 181,370 SH   SOLE   181,370 0 0
SOUTHWEST AIRLINES CO COM 844741108 9,545 655,560 SH   SOLE   655,560 0 0
SPDR GOLD TRUST COM 78463V107 473 3,690 SH   SOLE   3,690 0 0
SPIRIT AEROSYSTEMS HOLDINGS COM 848574109 4,010 165,435 SH   SOLE   165,435 0 0
SWS GROUP INC COM 78503N107 624 111,915 SH   SOLE   111,915 0 0
TCF FINL CORP COM COM 872275102 1,390 97,314 SH   SOLE   97,314 0 0
TEREX CORP NEW COM COM 880779103 39,994 1,190,310 SH   SOLE   1,172,695 0 17,615
TESSERA TECHNOLOGIES INC CMN COM 88164L100 348 18,000 SH   SOLE   18,000 0 0
TEVA PHARMACEUTICALS COM 881624209 53,913 1,427,022 SH   SOLE   1,400,157 0 26,865
TEXAS INSTRUMENTS INC COM 882508104 31,220 774,887 SH   SOLE   758,272 0 16,615
TEXTRON INC COM 883203101 42,490 1,538,935 SH   SOLE   1,509,590 0 29,345
THE ANDERSONS INC COM 034164103 890 12,735 SH   SOLE   12,735 0 0
TITAN INTERNATIONAL INC COM 88830M102 2,444 166,930 SH   SOLE   166,930 0 0
TITAN MACHINERY INC COM 88830R101 1,810 112,605 SH   SOLE   112,605 0 0
TRW AUTOMOTIVE HOLDING CORP COM 87264s106 12,163 170,564 SH   SOLE   170,564 0 0
ULTRA PETROLEUM CORP-CAD COM 903914109 2,470 120,094 SH   SOLE   120,094 0 0
VALLEY NATIONAL BANCORP COM 919794107 127 12,758 SH   SOLE   12,758 0 0
VERA BRADLEY INC COM 92335C106 953 46,395 SH   SOLE   46,395 0 0
VERIFONE HOLDINGS INC. CMN COM 92342Y109 60,665 2,653,765 SH   SOLE   2,604,895 0 48,870
VISHAY INTERTECHNOLOGY INC COM 928298108 451 35,000 SH   SOLE   35,000 0 0
VOXX INTERNATIONAL CORPORATION COM 91829F104 2,763 201,650 SH   SOLE   201,650 0 0
WELLPOINT INC CMN COM 94973V107 68,692 821,580 SH   SOLE   807,190 0 14,390
WELLS FARGO & CO (NEW) CMN COM 949746101 41,124 995,252 SH   SOLE   975,847 0 19,405
XL GROUP PLC COM g98290102 667 21,645 SH   SOLE   21,645 0 0
ZEBRA TECHNOLOGIES CRP A COM 989207105 2,727 59,863 SH   SOLE   59,863 0 0
BANK OF AMERICA PREFERRED SERI CPFD 060505682 583 539 SH   SOLE   539 0 0
GENERAL MOTORS CORP LIQUIDATIO PFD 370ESC733 0 125,000 SH   SOLE   125,000 0 0
MORGAN STANLEY FIXED TO FLOATI PFD 61762V200 1,008 40,000 SH   SOLE   40,000 0 0
JAKKS PACIFIC INC 4.5% 11/01/2 CONV 47012EAD8 3,117 3,301,000 PRN   SOLE   3,301,000 0 0
TOWER GROUP INTL LTD 5% 9/15/2 CONV 891777AC8 3,365 4,000,000 PRN   SOLE   4,000,000 0 0