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
ABBVIE INC COM 00287Y109 58,767 808,123 SH   SOLE   90,755 0 717,368
AT&T INC COM 00206R102 104,674 3,123,671 SH   SOLE   341,120 0 2,782,551
BCE INC COM NEW 05534B760 95,404 2,097,714 SH   SOLE   198,780 0 1,898,934
BLOCK H & R INC COM 093671105 59,128 2,018,027 SH   SOLE   230,450 0 1,787,577
CHEVRON CORP NEW COM 166764100 84,315 677,552 SH   SOLE   75,465 0 602,087
CINEMARK HOLDINGS INC COM 17243V102 76,205 2,110,935 SH   SOLE   232,400 0 1,878,535
CNA FINL CORP COM 126117100 27,020 574,040 SH   SOLE   69,125 0 504,915
CUMMINS INC COM 231021106 26,906 157,031 SH   SOLE   16,935 0 140,096
DORCHESTER MINERALS LP COM UNIT 25820R105 5,770 315,150 SH   SOLE   1,050 0 314,100
EATON CORP PLC SHS G29183103 65,740 789,391 SH   SOLE   84,935 0 704,456
ENTERPRISE PRODS PARTNERS L COM 293792107 95,741 3,316,287 SH   SOLE   218,795 0 3,097,492
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 50,252 2,975,240 SH   SOLE   337,590 0 2,637,650
EXXON MOBIL CORP COM 30231G102 37,875 494,254 SH   SOLE   57,415 0 436,839
FIRST AMERN FINL CORP COM 31847R102 57,619 1,072,985 SH   SOLE   116,195 0 956,790
FLOWERS FOODS INC COM 343498101 45,339 1,948,367 SH   SOLE   224,130 0 1,724,237
FNB CORP PA COM 302520101 34,197 2,905,460 SH   SOLE   349,350 0 2,556,110
GENERAL MLS INC COM 370334104 30,083 572,791 SH   SOLE   65,245 0 507,546
GENERAL MTRS CO COM 37045V100 84,944 2,204,616 SH   SOLE   239,825 0 1,964,791
GILEAD SCIENCES INC COM 375558103 26,481 391,970 SH   SOLE   45,795 0 346,175
INTEL CORP COM 458140100 47,088 983,655 SH   SOLE   105,975 0 877,680
INTERPUBLIC GROUP COS INC COM 460690100 64,964 2,875,796 SH   SOLE   319,665 0 2,556,131
INVESCO LTD SHS G491BT108 38,042 1,859,334 SH   SOLE   203,690 0 1,655,644
KEYCORP NEW COM 493267108 52,674 2,967,575 SH   SOLE   339,600 0 2,627,975
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 38,627 448,475 SH   SOLE   48,460 0 400,015
M D C HLDGS INC COM 552676108 60,525 1,846,396 SH   SOLE   212,251 0 1,634,145
MSC INDL DIRECT INC CL A 553530106 52,364 705,139 SH   SOLE   76,700 0 628,439
NATIONAL HEALTH INVS INC COM 63633D104 55,913 716,556 SH   SOLE   78,060 0 638,496
OLD REP INTL CORP COM 680223104 76,142 3,402,217 SH   SOLE   379,190 0 3,023,027
PACKAGING CORP AMER COM 695156109 44,987 471,959 SH   SOLE   52,180 0 419,779
PFIZER INC COM 717081103 96,011 2,216,321 SH   SOLE   247,515 0 1,968,806
PHILLIPS 66 COM 718546104 63,442 678,235 SH   SOLE   74,855 0 603,380
PROCTER AND GAMBLE CO COM 742718109 74,437 678,860 SH   SOLE   72,135 0 606,725
QUALCOMM INC COM 747525103 66,977 880,469 SH   SOLE   97,960 0 782,509
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 61,518 935,781 SH   SOLE   93,040 0 842,741
SANOFI SPONSORED ADR 80105N105 81,578 1,885,332 SH   SOLE   200,479 0 1,684,853
TARGET CORP COM 87612E106 93,432 1,078,771 SH   SOLE   116,405 0 962,366
UMPQUA HLDGS CORP COM 904214103 46,749 2,817,932 SH   SOLE   332,035 0 2,485,897
VERIZON COMMUNICATIONS INC COM 92343V104 104,550 1,830,036 SH   SOLE   195,562 0 1,634,474
WILLIAMS COS INC DEL COM 969457100 43,133 1,538,253 SH   SOLE   176,765 0 1,361,488