The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 |
| 1-800-Flowers.com Inc. | CL A | 68243Q106 | 5,367 | 501,564 | SH | SOLE | 0 | 501,564 | 0 | 0 | |
| ABM Industries Inc | COM | 000957100 | 3,670 | 89,857 | SH | SOLE | 0 | 89,857 | 0 | 0 | |
| AGCO Corp | COM | 001084102 | 21,678 | 374,671 | SH | SOLE | 0 | 374,671 | 0 | 0 | |
| Alamo Group, Inc. | COM | 011311107 | 6,545 | 86,006 | SH | SOLE | 0 | 86,006 | 0 | 0 | |
| Alico, Inc. | COM | 016230104 | 3,509 | 129,227 | SH | SOLE | 0 | 129,227 | 0 | 0 | |
| Alleghany Corp. | COM | 017175100 | 50,081 | 82,354 | SH | SOLE | 0 | 82,354 | 0 | 0 | |
| Allscripts Healthcare Solutions, Inc. | COM | 01988P108 | 2,080 | 203,687 | SH | SOLE | 0 | 203,687 | 0 | 0 | |
| Amgen Inc. | COM | 031162100 | 30,742 | 210,262 | SH | SOLE | 0 | 210,262 | 0 | 0 | |
| Ani Pharmaceuticals Inc. | COM | 00182C103 | 3,027 | 49,933 | SH | SOLE | 0 | 49,933 | 0 | 0 | |
| Anixter International Inc. | COM | 035290105 | 28,562 | 352,400 | SH | SOLE | 0 | 352,400 | 0 | 0 | |
| Apache Corp | COM | 037411105 | 16,328 | 257,260 | SH | SOLE | 0 | 257,260 | 0 | 0 | |
| Arcos Dorados Holdings, Inc. | SHS CL A | G0457F107 | 6,281 | 1,163,100 | SH | SOLE | 0 | 1,163,100 | 0 | 0 | |
| Bank of New York Mellon Corp. | COM | 064058100 | 83,363 | 1,759,465 | SH | SOLE | 0 | 1,759,465 | 0 | 0 | |
| Barnes Group Inc. | COM | 067806109 | 4,941 | 104,200 | SH | SOLE | 0 | 104,200 | 0 | 0 | |
| BMC Stock Holdings, Inc. | Equity | 05591B109 | 2,750 | 141,000 | SH | SOLE | 0 | 141,000 | 0 | 0 | |
| Brookdale Senior Living Inc. | COM | 112463104 | 25,137 | 2,023,941 | SH | SOLE | 0 | 2,023,941 | 0 | 0 | |
| Brookfield Asset Mgmt. CL A | CL A LTD VT SH | 112585104 | 141,915 | 4,299,141 | SH | SOLE | 0 | 4,299,141 | 0 | 0 | |
| Cambrex Corp. | COM | 132011107 | 4,509 | 83,585 | SH | SOLE | 0 | 83,585 | 0 | 0 | |
| Capital Southwest | COM | 140501107 | 2,428 | 150,348 | SH | SOLE | 0 | 150,348 | 0 | 0 | |
| Carrizo Oil & Gas Inc. | COM | 144577103 | 3,838 | 102,753 | SH | SOLE | 0 | 102,753 | 0 | 0 | |
| Catchmark Timber Trust Inc. | REIT | 14912Y202 | 901 | 80,000 | SH | SOLE | 0 | 80,000 | 0 | 0 | |
| Cavco Industries, Inc. (COM & Restricted) | COM | 149568107 | 47,221 | 472,919 | SH | SOLE | 0 | 472,919 | 0 | 0 | |
| CBS Corporation | CL B | 124857202 | 41,384 | 650,481 | SH | SOLE | 0 | 650,481 | 0 | 0 | |
| Century Communities Inc. | COM | 156504300 | 1,994 | 94,974 | SH | SOLE | 0 | 94,974 | 0 | 0 | |
| Cerner Corp. | COM | 156782104 | 19,360 | 408,707 | SH | SOLE | 0 | 408,707 | 0 | 0 | |
| Circor International Inc. | COM | 17273K109 | 1,704 | 26,267 | SH | SOLE | 0 | 26,267 | 0 | 0 | |
| CNH Industrial NV | COM | N20944109 | 4,259 | 490,100 | SH | SOLE | 0 | 490,100 | 0 | 0 | |
| Comerica Inc 2018 Warrants | W EXP 11/14/2018 | 200340115 | 1,484 | 38,300 | SH | SOLE | 0 | 38,300 | 0 | 0 | |
| Comerica Inc. | COM | 200340107 | 70,671 | 1,037,604 | SH | SOLE | 0 | 1,037,604 | 0 | 0 | |
| Comfort Systems USA Inc. | COM | 199908104 | 5,374 | 161,375 | SH | SOLE | 0 | 161,375 | 0 | 0 | |
| Commerce Bancshares, Inc | COM | 200525103 | 10,713 | 185,306 | SH | SOLE | 0 | 185,306 | 0 | 0 | |
| Cosan Ltd. | CL A | G25343107 | 3,838 | 511,000 | SH | SOLE | 0 | 511,000 | 0 | 0 | |
| Covanta Holding Corporation | COM | 22282E102 | 26,255 | 1,682,990 | SH | SOLE | 0 | 1,682,990 | 0 | 0 | |
| CSG Systems International, Inc. | COM | 126349109 | 3,252 | 67,198 | SH | SOLE | 0 | 67,198 | 0 | 0 | |
| CSW Industrials Inc. | COM | 126402106 | 5,540 | 150,348 | SH | SOLE | 0 | 150,348 | 0 | 0 | |
| Cubic, Corp. | COM | 229669106 | 8,224 | 171,518 | SH | SOLE | 0 | 171,518 | 0 | 0 | |
| Cullen Frost Bankers, Inc. | COM | 229899109 | 7,235 | 82,000 | SH | SOLE | 0 | 82,000 | 0 | 0 | |
| Devon Energy Corp. | COM | 25179M103 | 34,908 | 764,345 | SH | SOLE | 0 | 764,345 | 0 | 0 | |
| Dorman Products, Inc. | COM | 258278100 | 5,954 | 81,500 | SH | SOLE | 0 | 81,500 | 0 | 0 | |
| DST Systems | COM | 233326107 | 5,175 | 48,300 | SH | SOLE | 0 | 48,300 | 0 | 0 | |
| DSW Inc. | CL A | 23334L102 | 3,735 | 164,900 | SH | SOLE | 0 | 164,900 | 0 | 0 | |
| EMCOR Group, Inc. | COM | 29084Q100 | 6,199 | 87,607 | SH | SOLE | 0 | 87,607 | 0 | 0 | |
| Fiesta Restaurant Group, Inc. | COM | 31660B101 | 3,108 | 104,127 | SH | SOLE | 0 | 104,127 | 0 | 0 | |
| First Industrial Realty Trust, Inc. | COM | 32054K103 | 50,573 | 1,802,943 | SH | SOLE | 0 | 1,802,943 | 0 | 0 | |
| First Potomac Realty Trust | COM | 33610F109 | 878 | 80,000 | SH | SOLE | 0 | 80,000 | 0 | 0 | |
| FNF Group | COM | 31620R303 | 22,566 | 664,500 | SH | SOLE | 0 | 664,500 | 0 | 0 | |
| Forest City Enterprises Inc. CL A | CL A | 345605109 | 101,431 | 4,867,140 | SH | SOLE | 0 | 4,867,140 | 0 | 0 | |
| Forest City Enterprises Inc. CL B | CL B CONV | 345605208 | 19 | 702 | SH | SOLE | 0 | 702 | 0 | 0 | |
| FTI Consulting Inc. | COM | 302941109 | 6,329 | 140,392 | SH | SOLE | 0 | 140,392 | 0 | 0 | |
| Genpact Ltd. | COM | G3922B107 | 5,395 | 221,666 | SH | SOLE | 0 | 221,666 | 0 | 0 | |
| G-III Apparel Group Ltd. | COM | 36237H101 | 4,215 | 142,601 | SH | SOLE | 0 | 142,601 | 0 | 0 | |
| Harman International Industries, Inc. | COM | 413086109 | 43,928 | 395,177 | SH | SOLE | 0 | 395,177 | 0 | 0 | |
| ICF International, Inc. | COM | 44925C103 | 7,475 | 135,422 | SH | SOLE | 0 | 135,422 | 0 | 0 | |
| Insight Enterprises, Inc. | COM | 45765U103 | 8,531 | 210,950 | SH | SOLE | 0 | 210,950 | 0 | 0 | |
| Interface Inc. | COM | 458665304 | 3,747 | 202,020 | SH | SOLE | 0 | 202,020 | 0 | 0 | |
| Johnson Controls International plc | COM | G51502105 | 29,481 | 715,724 | SH | SOLE | 0 | 715,724 | 0 | 0 | |
| Kaiser Aluminum Corp. | COM PAR $0.01 | 483007704 | 4,100 | 52,778 | SH | SOLE | 0 | 52,778 | 0 | 0 | |
| Kennedy-Wilson Holdings Inc. | COM | 489398107 | 25,526 | 1,245,153 | SH | SOLE | 0 | 1,245,153 | 0 | 0 | |
| Keycorp | COM | 493267108 | 18,032 | 986,968 | SH | SOLE | 0 | 986,968 | 0 | 0 | |
| Kirby Corporation | COM | 497266106 | 5,493 | 82,600 | SH | SOLE | 0 | 82,600 | 0 | 0 | |
| Korn/Ferry International | COM | 500643200 | 3,693 | 125,500 | SH | SOLE | 0 | 125,500 | 0 | 0 | |
| Legg Mason Inc. | COM | 524901105 | 3,115 | 104,132 | SH | SOLE | 0 | 104,132 | 0 | 0 | |
| Lennar Corp - Class B | CL B | 526057302 | 392 | 11,356 | SH | SOLE | 0 | 11,356 | 0 | 0 | |
| Lennar Corp. | CL A | 526057104 | 126,727 | 2,951,947 | SH | SOLE | 0 | 2,951,947 | 0 | 0 | |
| Leucadia National Corporation | COM | 527288104 | 3,505 | 150,733 | SH | SOLE | 0 | 150,733 | 0 | 0 | |
| Livanova PLC | COM | G5509L101 | 23,194 | 515,777 | SH | SOLE | 0 | 515,777 | 0 | 0 | |
| Lowe's Companies Inc. | COM | 548661107 | 39,892 | 560,911 | SH | SOLE | 0 | 560,911 | 0 | 0 | |
| Masco Corp. | COM | 574599106 | 26,959 | 852,594 | SH | SOLE | 0 | 852,594 | 0 | 0 | |
| Multi-Color Corporation | COM | 625383104 | 7,864 | 101,346 | SH | SOLE | 0 | 101,346 | 0 | 0 | |
| MYR Group Inc. | COM | 55405W104 | 3,240 | 86,000 | SH | SOLE | 0 | 86,000 | 0 | 0 | |
| Netscout Systems Inc. | COM | 64115T104 | 8,486 | 269,400 | SH | SOLE | 0 | 269,400 | 0 | 0 | |
| NEXPOINT RESIDNL TR | EQUITY | 65341D102 | 559 | 25,000 | SH | SOLE | 0 | 25,000 | 0 | 0 | |
| Parkway Inc. | REIT | 70156Q107 | 23,244 | 1,044,662 | SH | SOLE | 0 | 1,044,662 | 0 | 0 | |
| Patterson Companies Inc | COM | 703395103 | 3,094 | 75,400 | SH | SOLE | 0 | 75,400 | 0 | 0 | |
| PNC Financial Corp | COM | 693475105 | 73,953 | 632,296 | SH | SOLE | 0 | 632,296 | 0 | 0 | |
| PNC Financial Services Group 2018 Warrants | W EXP 12/31/2018 | 693475121 | 64,615 | 1,305,349 | SH | SOLE | 0 | 1,305,349 | 0 | 0 | |
| Progress Software Corporation | COM | 743312100 | 3,587 | 112,355 | SH | SOLE | 0 | 112,355 | 0 | 0 | |
| Prosperity Bancshares Inc. | COM | 743606105 | 7,319 | 101,963 | SH | SOLE | 0 | 101,963 | 0 | 0 | |
| Quanex Building Products | COM | 747619104 | 1,589 | 78,300 | SH | SOLE | 0 | 78,300 | 0 | 0 | |
| Radio One Inc Cl D | CL D NON VTG | 75040P405 | 5,528 | 1,906,369 | SH | SOLE | 0 | 1,906,369 | 0 | 0 | |
| Ralph Lauren Corp. | CL A | 751212101 | 24,397 | 270,116 | SH | SOLE | 0 | 270,116 | 0 | 0 | |
| Rayonier Inc. | COM | 754907103 | 91,830 | 3,452,270 | SH | SOLE | 0 | 3,452,270 | 0 | 0 | |
| Seaboard Corp. | COM | 811543107 | 3,703 | 937 | SH | SOLE | 0 | 937 | 0 | 0 | |
| Shire Plc - ADR | ADR | 82481R106 | 11,553 | 67,805 | SH | SOLE | 0 | 67,805 | 0 | 0 | |
| Southside Bancshares Inc. | COM | 84470P109 | 8,351 | 221,678 | SH | SOLE | 0 | 221,678 | 0 | 0 | |
| SP Plus Corp. | COM | 78469C103 | 4,769 | 169,423 | SH | SOLE | 0 | 169,423 | 0 | 0 | |
| Spanish Broadcasting System, Inc | CL A | 846425833 | 1,951 | 639,603 | SH | SOLE | 0 | 639,603 | 0 | 0 | |
| Standard Motor Products, Inc. | COM | 853666105 | 5,096 | 95,747 | SH | SOLE | 0 | 95,747 | 0 | 0 | |
| Synaptics Inc. | COM | 87157D109 | 847 | 15,800 | SH | SOLE | 0 | 15,800 | 0 | 0 | |
| Syntel, Inc. | COM | 87162H103 | 5,504 | 278,106 | SH | SOLE | 0 | 278,106 | 0 | 0 | |
| Tanger Factory Outlet Centers, Inc | COM | 875465106 | 1,342 | 37,519 | SH | SOLE | 0 | 37,519 | 0 | 0 | |
| Tejon Ranch Co. | COM | 879080109 | 55,034 | 2,164,153 | SH | SOLE | 0 | 2,164,153 | 0 | 0 | |
| Telefex Inc. | COM | 879369106 | 3,708 | 23,007 | SH | SOLE | 0 | 23,007 | 0 | 0 | |
| Tetra Tech, Inc. | COM | 88162G103 | 6,440 | 149,244 | SH | SOLE | 0 | 149,244 | 0 | 0 | |
| The Macerich Company | COM | 554382101 | 18,936 | 267,301 | SH | SOLE | 0 | 267,301 | 0 | 0 | |
| Total Fina ELF S A ADR | ADR | 89151E109 | 93 | 1,823 | SH | SOLE | 0 | 1,823 | 0 | 0 | |
| Trinet Group Services | COM | 896288107 | 3,295 | 128,600 | SH | SOLE | 0 | 128,600 | 0 | 0 | |
| Trinity Place Holdings | COM | 89656D101 | 39,110 | 4,219,014 | SH | SOLE | 0 | 4,219,014 | 0 | 0 | |
| UCP Inc. - Class A | CL A | 90265Y106 | 2,047 | 169,859 | SH | SOLE | 0 | 169,859 | 0 | 0 | |
| UMB Financial Corporation | COM | 902788108 | 9,855 | 127,791 | SH | SOLE | 0 | 127,791 | 0 | 0 | |
| UniFirst Corporation | COM | 904708104 | 4,297 | 29,910 | SH | SOLE | 0 | 29,910 | 0 | 0 | |
| Vail Resorts Inc. | COM | 91879Q109 | 4,346 | 26,939 | SH | SOLE | 0 | 26,939 | 0 | 0 | |
| Valley National Bancorp | COM | 919794107 | 5,922 | 508,775 | SH | SOLE | 0 | 508,775 | 0 | 0 | |
| Valmont Industries | COM | 920253101 | 239 | 1,699 | SH | SOLE | 0 | 1,699 | 0 | 0 | |
| VCA Antech Inc. | COM | 918194101 | 5,523 | 80,458 | SH | SOLE | 0 | 80,458 | 0 | 0 | |
| Viad Corp. | COM | 92552R406 | 5,624 | 127,533 | SH | SOLE | 0 | 127,533 | 0 | 0 | |
| Visteon Corp. | COM | 92839U206 | 8,846 | 110,112 | SH | SOLE | 0 | 110,112 | 0 | 0 | |
| Vodafone Group Plc - ADR | ADR | 92857W308 | 46 | 1,877 | SH | SOLE | 0 | 1,877 | 0 | 0 | |
| Vornado Realty Trust | SH BEN INT | 929042109 | 62,540 | 599,214 | SH | SOLE | 0 | 599,214 | 0 | 0 | |
| WCI Communities Inc. | COM | 92923C807 | 10,154 | 432,988 | SH | SOLE | 0 | 432,988 | 0 | 0 | |
| Weyerhaeuser Company | COM | 962166104 | 180,941 | 6,013,322 | SH | SOLE | 0 | 6,013,322 | 0 | 0 | |
| White Mountains Insurance Group | COM | G9618E107 | 53,583 | 64,091 | SH | SOLE | 0 | 64,091 | 0 | 0 | |
| World Fuel Services Corp | COM | 981475106 | 6,933 | 151,019 | SH | SOLE | 0 | 151,019 | 0 | 0 | |
| Zions Bancorporation | COM | 989701107 | 26,128 | 607,058 | SH | SOLE | 0 | 607,058 | 0 | 0 | |