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
EURONAV NV ANTWERPEN SHS B38564108 39,611 3,868,258 SH   SOLE   2,705,422 0 1,162,836
ALLERGAN PLC SHS G0177J108 12,510 46,675 SH   SOLE   32,300 0 14,375
ARRIS INTL INC SHS G0551A103 71,296 3,110,666 SH   SOLE   1,352,095 0 1,758,571
ENSCO PLC SHS CLASS A G3157S106 41,740 4,025,105 SH   SOLE   2,186,909 0 1,838,196
HERBALIFE LTD COM USD SHS G4412G101 66,505 1,080,331 SH   SOLE   491,891 0 588,440
OM ASSET MGMT PLC SHS G67506108 13,837 1,036,505 SH   SOLE   375,665 0 660,840
TE CONNECTIVITY LTD REG SHS H84989104 10,386 167,736 SH   SOLE   100,010 0 67,726
GOLAR LNG PARTNERS LP COM UNIT LPI Y2745C102 47,127 3,208,119 SH   SOLE   1,698,868 0 1,509,251
TEEKAY TANKERS LTD CL A Y8565N102 68,499 18,664,671 SH   SOLE   8,556,573 0 10,108,098
ABBVIE INC COM 00287Y109 1,447 25,337 SH   SOLE   15,600 0 9,737
ALCOA INC COM 013817101 24,297 2,536,247 SH   SOLE   1,083,300 0 1,452,947
ALLY FINL INC COM 02005N100 35,255 1,883,273 SH   SOLE   893,833 0 989,440
AMERICAN ELEC PWR INC COM 025537101 2,065 31,100 SH   SOLE   11,400 0 19,700
AMERICAN INTL GROUP INC COM NEW 026874784 18,649 345,025 SH   SOLE   227,000 0 118,025
ARGAN INC COM 04010E109 14,026 398,908 SH   SOLE   221,748 0 177,160
ASTRAZENECA PLC SPONSORED ADR 046353108 1,076 38,200 SH   SOLE   23,600 0 14,600
BP PLC SPONSORED ADR 055622104 19,216 636,714 SH   SOLE   446,314 0 190,400
BANK AMER CORP COM 060505104 50,254 3,717,006 SH   SOLE   2,436,436 0 1,280,570
CNX COAL RES LP COM UNIT RP LP 12592V100 2,059 286,744 SH   SOLE   286,744 0 0
CNO FINL GROUP INC COM 12621E103 133,408 7,444,639 SH   SOLE   3,513,560 0 3,931,079
CA INC COM 12673P105 85,135 2,765,017 SH   SOLE   1,310,807 0 1,454,210
CALLAWAY GOLF CO COM 131193104 3,829 419,800 SH   SOLE   197,668 0 222,132
CARPENTER TECHNOLOGY CORP COM 144285103 83,429 2,437,301 SH   SOLE   1,255,228 0 1,182,073
CATCHMARK TIMBER TR INC CL A 14912Y202 17,181 1,586,445 SH   SOLE   689,930 0 896,515
CHESAPEAKE ENERGY CORP COM 165167107 2,947 715,224 SH   SOLE   524,400 0 190,824
CHEVRON CORP NEW COM 166764100 1,297 13,600 SH   SOLE   13,600 0 0
CITIGROUP INC COM NEW 172967424 43,612 1,044,587 SH   SOLE   677,080 0 367,507
COCA COLA CO COM 191216100 455 9,800 SH   SOLE   6,100 0 3,700
CONAGRA FOODS INC COM 205887102 27,127 607,961 SH   SOLE   267,700 0 340,261
CONMED CORP COM 207410101 14,295 340,833 SH   SOLE   116,240 0 224,593
CONOCOPHILLIPS COM 20825C104 1,418 35,200 SH   SOLE   35,200 0 0
DEVON ENERGY CORP NEW COM 25179M103 711 25,900 SH   SOLE   25,900 0 0
ENOVA INTL INC COM 29357K103 5,884 932,414 SH   SOLE   264,374 0 668,040
ENTERGY CORP NEW COM 29364G103 41,939 528,993 SH   SOLE   244,428 0 284,565
EXELON CORP COM 30161N101 45,865 1,279,013 SH   SOLE   914,212 0 364,801
EZCORP INC CL A NON VTG 302301106 8,831 2,973,327 SH   SOLE   1,165,710 0 1,807,617
FEDEX CORP COM 31428X106 19,744 121,335 SH   SOLE   78,300 0 43,035
FIRST CTZNS BANCSHARES INC N CL A 31946M103 39,149 155,928 SH   SOLE   60,176 0 95,752
FIRST DATA CORP NEW COM CL A 32008D106 1,012 78,200 SH   SOLE   30,300 0 47,900
FIRST HORIZON NATL CORP COM 320517105 49,314 3,764,395 SH   SOLE   1,316,902 0 2,447,493
FLUOR CORP NEW COM 343412102 5,461 101,694 SH   SOLE   63,025 0 38,669
FLOWSERVE CORP COM 34354P105 1,528 34,400 SH   SOLE   13,500 0 20,900
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 58,858 3,297,368 SH   SOLE   1,233,551 0 2,063,817
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 72,144 2,513,737 SH   SOLE   905,089 0 1,608,648
GREAT PLAINS ENERGY INC COM 391164100 35,324 1,095,314 SH   SOLE   417,604 0 677,710
HP INC COM 40434L105 5,903 479,165 SH   SOLE   314,929 0 164,236
HARSCO CORP COM 415864107 21,123 3,875,811 SH   SOLE   1,600,987 0 2,274,824
HEALTH INS INNOVATIONS INC COM CL A 42225K106 4,494 735,478 SH   SOLE   400,178 0 335,300
HEWLETT PACKARD ENTERPRISE C COM 42824C109 8,338 470,265 SH   SOLE   305,229 0 165,036
HOME DEPOT INC COM 437076102 15,861 118,875 SH   SOLE   83,200 0 35,675
ICONIX BRAND GROUP INC COM 451055107 42,453 5,273,614 SH   SOLE   1,902,346 0 3,371,268
INNOSPEC INC COM 45768S105 58,539 1,350,071 SH   SOLE   523,782 0 826,289
JPMORGAN CHASE & CO COM 46625H100 39,220 662,276 SH   SOLE   401,200 0 261,076
KBR INC COM 48242W106 162,715 10,511,337 SH   SOLE   5,474,501 0 5,036,836
KAISER ALUMINUM CORP COM PAR $0.01 483007704 34,634 409,681 SH   SOLE   176,808 0 232,873
KAPSTONE PAPER & PACKAGING C COM 48562P103 17,627 1,272,719 SH   SOLE   453,812 0 818,907
KRATOS DEFENSE & SEC SOLUTIO COM NEW 50077B207 2,934 592,700 SH   SOLE   261,321 0 331,379
LENNAR CORP CL B 526057302 37,103 958,481 SH   SOLE   477,701 0 480,780
LEXMARK INTL INC CL A 529771107 22,457 671,772 SH   SOLE   269,610 0 402,162
LILLY ELI & CO COM 532457108 48,381 671,860 SH   SOLE   434,164 0 237,696
LYON WILLIAM HOMES CL A NEW 552074700 16,139 1,113,830 SH   SOLE   626,770 0 487,060
MASTERCARD INC CL A 57636Q104 2,122 22,450 SH   SOLE   8,050 0 14,400
MERCER INTL INC COM 588056101 9,652 1,021,428 SH   SOLE   302,155 0 719,273
MERCK & CO INC NEW COM 58933Y105 40,581 766,973 SH   SOLE   492,700 0 274,273
MICROSOFT CORP COM 594918104 42,837 775,608 SH   SOLE   489,600 0 286,008
MILLER INDS INC TENN COM NEW 600551204 8,809 434,352 SH   SOLE   249,800 0 184,552
NATIONAL FUEL GAS CO N J COM 636180101 1,316 26,300 SH   SOLE   26,300 0 0
NELNET INC CL A 64031N108 15,890 403,608 SH   SOLE   132,993 0 270,615
NEXTERA ENERGY INC COM 65339F101 3,408 28,800 SH   SOLE   17,500 0 11,300
NORTHROP GRUMMAN CORP COM 666807102 43,289 218,743 SH   SOLE   142,500 0 76,243
OCEANEERING INTL INC COM 675232102 665 20,000 SH   SOLE   20,000 0 0
ORACLE CORP COM 68389X105 2,144 52,400 SH   SOLE   17,800 0 34,600
PPL CORP COM 69351T106 1,934 50,800 SH   SOLE   50,800 0 0
PARK STERLING CORP COM 70086Y105 16,710 2,505,187 SH   SOLE   1,319,389 0 1,185,798
PFIZER INC COM 717081103 51,344 1,732,260 SH   SOLE   1,136,500 0 595,760
PHILIP MORRIS INTL INC COM 718172109 36,070 367,646 SH   SOLE   196,900 0 170,746
PORTLAND GEN ELEC CO COM NEW 736508847 24,566 622,094 SH   SOLE   244,740 0 377,354
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,928 40,900 SH   SOLE   40,900 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 703 14,300 SH   SOLE   14,300 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 15,691 323,869 SH   SOLE   258,658 0 65,211
SCANA CORP NEW COM 80589M102 2,301 32,800 SH   SOLE   32,800 0 0
SCIENCE APPLICATNS INTL CP N COM 808625107 35,328 662,313 SH   SOLE   312,112 0 350,201
SEACOR HOLDINGS INC COM 811904101 981 18,017 SH   SOLE   18,017 0 0
SEMPRA ENERGY COM 816851109 1,634 15,700 SH   SOLE   15,700 0 0
SUNTRUST BKS INC COM 867914103 22,015 610,172 SH   SOLE   428,072 0 182,100
TENET HEALTHCARE CORP COM NEW 88033G407 16,503 570,460 SH   SOLE   194,028 0 376,432
TUPPERWARE BRANDS CORP COM 899896104 89,955 1,551,488 SH   SOLE   679,956 0 871,532
TYSON FOODS INC CL A 902494103 29,382 440,780 SH   SOLE   231,435 0 209,345
UFP TECHNOLOGIES INC COM 902673102 7,756 348,275 SH   SOLE   184,838 0 163,437
VERIZON COMMUNICATIONS INC COM 92343V104 1,668 30,844 SH   SOLE   11,047 0 19,797
VIRTUS INVT PARTNERS INC COM 92828Q109 43,486 556,726 SH   SOLE   184,724 0 372,002
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 4,557 142,180 SH   SOLE   92,888 0 49,292
VOYA FINL INC COM 929089100 19,666 660,605 SH   SOLE   351,855 0 308,750
WAL-MART STORES INC COM 931142103 18,208 265,856 SH   SOLE   175,300 0 90,556