| 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 |
| American Airlines Group, Inc. | COM | 02376R102 | 97,416 | 2,086,435 | SH | | SOLE | 0 | 1,822,190 | 0 | 264,245 |
| Alliance Data Systems Corporation | COM | 018581108 | 13,715 | 60,024 | SH | | SOLE | 0 | 52,557 | 0 | 7,467 |
| American International Group, Inc. | COM | 026874784 | 106,480 | 1,630,382 | SH | | SOLE | 0 | 1,425,427 | 0 | 204,955 |
| AMERICAN INTERNATIONAL GROUP INC WARRANTS 2011-19. | CONV BONDS | 026874156 | 49,069 | 2,091,602 | PRN | | SOLE | 0 | 1,827,049 | 0 | 264,553 |
| America Movil SAB de CV Sponsored ADR Class L | COM | 02364W105 | 3,757 | 298,917 | SH | | SOLE | 0 | 262,150 | 0 | 36,767 |
| Amazon.com, Inc. | COM | 023135106 | 187,425 | 249,943 | SH | | SOLE | 0 | 218,505 | 0 | 31,438 |
| Anthem, Inc. | COM | 036752103 | 14,285 | 99,360 | SH | | SOLE | 0 | 86,821 | 0 | 12,539 |
| ACTIVISION BLIZZARD INC | COM | 00507V109 | 11,744 | 325,241 | SH | | SOLE | 0 | 283,311 | 0 | 41,930 |
| American Express Company | COM | 025816109 | 44,745 | 604,003 | SH | | SOLE | 0 | 528,095 | 0 | 75,908 |
| Bank of America Corporation | COM | 060505104 | 102,925 | 4,657,234 | SH | | SOLE | 0 | 4,072,620 | 0 | 584,614 |
| BANK OF AMERICA CORP WARRANTS 2009-16.1.19 ON SHS | CONV BONDS | 060505146 | 46,221 | 4,645,318 | PRN | | SOLE | 0 | 4,049,957 | 0 | 595,361 |
| BANK OF AMERICA CORP WARRANTS 2009-28.10.18 ON SHS | CONV BONDS | 060505153 | 1,481 | 1,542,820 | PRN | | SOLE | 0 | 1,345,003 | 0 | 197,817 |
| Liberty Braves Group - Class A | COM | 531229706 | 294 | 14,340 | SH | | SOLE | 0 | 12,249 | 0 | 2,091 |
| Liberty Braves Group - Class C | COM | 531229888 | 742 | 36,027 | SH | | SOLE | 0 | 31,420 | 0 | 4,607 |
| Belmond Ltd. Class A | COM | G1154H107 | 40,254 | 3,015,302 | SH | | SOLE | 0 | 2,635,062 | 0 | 380,240 |
| Sotheby s Class A | COM | 835898107 | 12,328 | 309,281 | SH | | SOLE | 0 | 270,405 | 0 | 38,876 |
| BAIDU, INC. SPONSORED ADR CLASS A | COM | 056752108 | 10,685 | 64,987 | SH | | SOLE | 0 | 56,556 | 0 | 8,431 |
| Bio-Rad Laboratories, Inc. Class A | COM | 090572207 | 14,271 | 78,291 | SH | | SOLE | 0 | 68,519 | 0 | 9,772 |
| TOPBUILD CORP. | COM | 89055F103 | 1,215 | 34,125 | SH | | SOLE | 0 | 29,807 | 0 | 4,318 |
| Bristol-Myers Squibb Company | COM | 110122108 | 10,044 | 171,876 | SH | | SOLE | 0 | 150,774 | 0 | 21,102 |
| Berkshire Hathaway Inc. Class B | COM | 084670702 | 53,130 | 325,990 | SH | | SOLE | 0 | 284,556 | 0 | 41,434 |
| Boyd Gaming Corporation | COM | 103304101 | 5,874 | 291,217 | SH | | SOLE | 0 | 254,865 | 0 | 36,352 |
| Citigroup Inc. | COM | 172967424 | 114,367 | 1,924,395 | SH | | SOLE | 0 | 1,681,555 | 0 | 242,840 |
| CITIGROUP INC WARRANTS 2011-4.1.19 ON SHS | CONV BONDS | 172967226 | 845 | 5,561,725 | PRN | | SOLE | 0 | 4,848,736 | 0 | 712,989 |
| Avis Budget Group, Inc. | COM | 053774105 | 5,877 | 160,219 | SH | | SOLE | 0 | 140,593 | 0 | 19,626 |
| CBRE Group, Inc. Class A | COM | 12504L109 | 68,194 | 2,165,578 | SH | | SOLE | 0 | 1,889,229 | 0 | 276,349 |
| CF Industries Holdings, Inc. | COM | 125269100 | 3,884 | 123,389 | SH | | SOLE | 0 | 107,963 | 0 | 15,426 |
| Citizens Financial Group, Inc. | COM | 174610105 | 52,213 | 1,465,414 | SH | | SOLE | 0 | 1,278,739 | 0 | 186,675 |
| Charter Communications Inc. Class A | COM | 16119P108 | 9,122 | 31,683 | SH | | SOLE | 0 | 27,789 | 0 | 3,894 |
| COMMERCEHUB INC-SERIES C | COM | 20084V306 | 298 | 19,840 | SH | | SOLE | 0 | 17,243 | 0 | 2,597 |
| CoreLogic, Inc. | COM | 21871D103 | 15,152 | 411,407 | SH | | SOLE | 0 | 359,604 | 0 | 51,803 |
| COMCAST CORPORATION CLASS A | COM | 20030N101 | 33,946 | 491,608 | SH | | SOLE | 0 | 429,720 | 0 | 61,888 |
| Capital One Financial Corporation | COM | 14040H105 | 47,364 | 542,916 | SH | | SOLE | 0 | 474,190 | 0 | 68,726 |
| CAPITAL ONE FINANCIAL CORP WARRANTS 2009-14. | CONV BONDS | 14040H139 | 4,759 | 105,308 | PRN | | SOLE | 0 | 91,973 | 0 | 13,335 |
| Costco Wholesale Corporation | COM | 22160K105 | 76,222 | 476,062 | SH | | SOLE | 0 | 416,718 | 0 | 59,344 |
| Coty Inc. Class A | COM | 222070203 | 2,519 | 137,562 | SH | | SOLE | 0 | 120,361 | 0 | 17,201 |
| COPA HOLDINGS, S.A. CLASS A | COM | P31076105 | 6,858 | 75,503 | SH | | SOLE | 0 | 65,418 | 0 | 10,085 |
| Cisco Systems, Inc. | COM | 17275R102 | 3,532 | 116,875 | SH | | SOLE | 0 | 102,236 | 0 | 14,639 |
| CTRIP.COM INTERNATIONAL LTD. SPONSORED ADR | COM | 22943F100 | 3,819 | 95,466 | SH | | SOLE | 0 | 83,088 | 0 | 12,378 |
| Cognizant Technology Solutions Corporation Class A | COM | 192446102 | 13,328 | 237,869 | SH | | SOLE | 0 | 207,631 | 0 | 30,238 |
| Cemex SAB de CV Sponsored ADR | COM | 151290889 | 51,413 | 6,402,566 | SH | | SOLE | 0 | 5,593,053 | 0 | 809,513 |
| Delta Air Lines, Inc. | COM | 247361702 | 83,263 | 1,692,680 | SH | | SOLE | 0 | 1,478,375 | 0 | 214,305 |
| Discovery Communications, Inc. Class A | COM | 25470F104 | 17,581 | 641,394 | SH | | SOLE | 0 | 561,242 | 0 | 80,152 |
| Delphi Automotive PLC | COM | G27823106 | 10,877 | 161,506 | SH | | SOLE | 0 | 141,201 | 0 | 20,305 |
| NOW Inc | COM | 67011P100 | 13,663 | 667,458 | SH | | SOLE | 0 | 583,088 | 0 | 84,370 |
| DOW CHEMICAL COMPANY | COM | 260543103 | 10,383 | 181,456 | SH | | SOLE | 0 | 158,931 | 0 | 22,525 |
| DIANA SHIPPING INC. | COM | Y2066G104 | 4,333 | 1,434,629 | SH | | SOLE | 0 | 1,247,266 | 0 | 187,363 |
| eBay Inc. | COM | 278642103 | 23,977 | 807,565 | SH | | SOLE | 0 | 706,010 | 0 | 101,555 |
| EPAM Systems, Inc. | COM | 29414B104 | 14,828 | 230,575 | SH | | SOLE | 0 | 200,832 | 0 | 29,743 |
| ISHARES MSCI SOUTH KOREA CAP ETF | COM | 464286772 | 2,419 | 45,447 | SH | | SOLE | 0 | 45,447 | 0 | 0 |
| Ford Motor Company | COM | 345370860 | 24,478 | 2,017,975 | SH | | SOLE | 0 | 1,762,808 | 0 | 255,167 |
| FIRSTCASH INC. | COM | 33767D105 | 6,919 | 147,205 | SH | | SOLE | 0 | 128,227 | 0 | 18,978 |
| FREEPORT-MCMORAN, INC. | COM | 35671D857 | 5,723 | 433,911 | SH | | SOLE | 0 | 376,655 | 0 | 57,256 |
| Fluor Corporation | COM | 343412102 | 2,327 | 44,300 | SH | | SOLE | 0 | 38,739 | 0 | 5,561 |
| Federal National Mortgage Association | COM | 313586109 | 1,458 | 373,805 | SH | | SOLE | 0 | 327,036 | 0 | 46,769 |
| Graco Inc. | COM | 384109104 | 9,562 | 115,080 | SH | | SOLE | 0 | 101,023 | 0 | 14,057 |
| GOLAR LNG LIMITED | COM | G9456A100 | 3,421 | 149,144 | SH | | SOLE | 0 | 130,416 | 0 | 18,728 |
| CORNING INCORPORATED | COM | 219350105 | 3,283 | 135,283 | SH | | SOLE | 0 | 118,318 | 0 | 16,965 |
| Alphabet Inc. Class C | COM | 02079K107 | 96,930 | 125,586 | SH | | SOLE | 0 | 109,492 | 0 | 16,094 |
| Alphabet Inc. Class A | COM | 02079K305 | 6,698 | 8,452 | SH | | SOLE | 0 | 7,414 | 0 | 1,038 |
| Garmin Ltd. | COM | H2906T109 | 10,201 | 210,377 | SH | | SOLE | 0 | 184,252 | 0 | 26,125 |
| FERROGLOBE PLC | COM | G33856108 | 4,368 | 403,290 | SH | | SOLE | 0 | 352,587 | 0 | 50,703 |
| Halliburton Company | COM | 406216101 | 2,975 | 55,010 | SH | | SOLE | 0 | 48,110 | 0 | 6,900 |
| Huntington Bancshares Incorporated | COM | 446150104 | 8,079 | 611,157 | SH | | SOLE | 0 | 536,091 | 0 | 75,066 |
| Hanesbrands Inc. | COM | 410345102 | 12,174 | 564,413 | SH | | SOLE | 0 | 495,218 | 0 | 69,195 |
| Hackett Group, Inc. | COM | 404609109 | 18,067 | 1,023,045 | SH | | SOLE | 0 | 897,067 | 0 | 125,978 |
| HEWLETT PACKARD ENTERPRISE CO. | COM | 42824C109 | 24,074 | 1,040,378 | SH | | SOLE | 0 | 910,340 | 0 | 130,038 |
| HP Inc | COM | 40434L105 | 4,283 | 288,631 | SH | | SOLE | 0 | 253,326 | 0 | 35,305 |
| Herc Holdings Inc | COM | 42704L104 | 644 | 16,024 | SH | | SOLE | 0 | 14,063 | 0 | 1,961 |
| Hertz Global Holdings | COM | 42806J106 | 1,041 | 48,265 | SH | | SOLE | 0 | 42,376 | 0 | 5,889 |
| iHeartMedia, Inc. Class A | COM | 45174J103 | 471 | 424,726 | SH | | SOLE | 0 | 372,780 | 0 | 51,946 |
| ILG INC NPV | COM | 44967H101 | 2,157 | 118,685 | SH | | SOLE | 0 | 103,731 | 0 | 14,954 |
| iShares MSCI India ETF | COM | 46429B598 | 16,636 | 620,503 | SH | | SOLE | 0 | 470,975 | 0 | 149,528 |
| Intel Corporation | COM | 458140100 | 19,977 | 550,777 | SH | | SOLE | 0 | 482,679 | 0 | 68,098 |
| Gartner, Inc. | COM | 366651107 | 15,376 | 152,135 | SH | | SOLE | 0 | 133,596 | 0 | 18,539 |
| JD.com, Inc. Sponsored ADR Class A | COM | 47215P106 | 24,678 | 970,043 | SH | | SOLE | 0 | 843,909 | 0 | 126,134 |
| JPMorgan Chase & Co. | COM | 46625H100 | 15,715 | 182,120 | SH | | SOLE | 0 | 159,390 | 0 | 22,730 |
| JPMORGAN CHASE & CO WARRANTS 2009-28.10.18 ON SHS | CONV BONDS | 46634E114 | 8,790 | 198,557 | PRN | | SOLE | 0 | 173,539 | 0 | 25,018 |
| KIRBY CORPORATION | COM | 497266106 | 3,882 | 58,376 | SH | | SOLE | 0 | 50,850 | 0 | 7,526 |
| KKR & Co. L.P. | COM | 48248M102 | 12,153 | 789,645 | SH | | SOLE | 0 | 690,192 | 0 | 99,453 |
| Kroger Co. | COM | 501044101 | 16,549 | 479,543 | SH | | SOLE | 0 | 419,010 | 0 | 60,533 |
| Kansas City Southern | COM | 485170302 | 5,784 | 68,166 | SH | | SOLE | 0 | 59,507 | 0 | 8,659 |
| Loews Corporation | COM | 540424108 | 6,966 | 148,757 | SH | | SOLE | 0 | 130,464 | 0 | 18,293 |
| Lazard Ltd Class A | COM | G54050102 | 37,163 | 904,439 | SH | | SOLE | 0 | 791,028 | 0 | 113,411 |
| Liberty Broadband Corp. Class A | COM | 530307107 | 7,715 | 106,473 | SH | | SOLE | 0 | 92,906 | 0 | 13,567 |
| Liberty Broadband Corp. Class C | COM | 530307305 | 6,702 | 90,477 | SH | | SOLE | 0 | 78,598 | 0 | 11,879 |
| Liberty Global Plc Class A | COM | G5480U104 | 34,504 | 1,127,963 | SH | | SOLE | 0 | 984,841 | 0 | 143,122 |
| Liberty Global Plc Class C | COM | G5480U120 | 39,213 | 1,320,291 | SH | | SOLE | 0 | 1,153,003 | 0 | 167,288 |
| Liberty Expedia Holdings Inc NPV | COM | 53046P109 | 1,498 | 37,760 | SH | | SOLE | 0 | 33,041 | 0 | 4,719 |
| LIONS GATE ENTERTAINMENT CORP NPV | COM | 535919500 | 624 | 25,410 | SH | | SOLE | 0 | 22,157 | 0 | 3,253 |
| Liberty Lilac Group Class A | COM | G5480U138 | 8,525 | 388,225 | SH | | SOLE | 0 | 338,372 | 0 | 49,853 |
| Liberty LiLAC Group Class C | COM | G5480U153 | 5,401 | 255,106 | SH | | SOLE | 0 | 222,463 | 0 | 32,643 |
| LIVANOVA PLC | COM | G5509L101 | 7,584 | 168,641 | SH | | SOLE | 0 | 147,264 | 0 | 21,377 |
| Liberty Media Corp - A | COM | 531229870 | 1,195 | 38,123 | SH | | SOLE | 0 | 33,427 | 0 | 4,696 |
| Liberty Media Corp - C | COM | 531229854 | 1,527 | 48,725 | SH | | SOLE | 0 | 42,698 | 0 | 6,027 |
| Lowe s Companies, Inc. | COM | 548661107 | 17,186 | 241,648 | SH | | SOLE | 0 | 211,298 | 0 | 30,350 |
| Louisiana-Pacific Corporation | COM | 546347105 | 3,660 | 193,342 | SH | | SOLE | 0 | 169,119 | 0 | 24,223 |
| LIBERTY SIRIUSXM GROUP CLASS A | COM | 531229409 | 10,062 | 291,495 | SH | | SOLE | 0 | 254,454 | 0 | 37,041 |
| LIBERTY SIRIUSXM GROUP CLASS C | COM | 531229607 | 8,309 | 244,945 | SH | | SOLE | 0 | 213,914 | 0 | 31,031 |
| Liberty TripAdvisor Holdings Inc Class A | COM | 531465102 | 3,611 | 239,903 | SH | | SOLE | 0 | 208,761 | 0 | 31,142 |
| Leucadia National Corporation | COM | 527288104 | 2,256 | 97,042 | SH | | SOLE | 0 | 84,865 | 0 | 12,177 |
| Level 3 Communications, Inc. | COM | 52729N308 | 21,136 | 375,018 | SH | | SOLE | 0 | 328,448 | 0 | 46,570 |
| Liberty Interactive Corp NPV | COM | 53071M856 | 2,088 | 56,635 | SH | | SOLE | 0 | 49,559 | 0 | 7,076 |
| LYONDELLBASELL INDUSTRIES NV | COM | N53745100 | 5,491 | 64,011 | SH | | SOLE | 0 | 55,764 | 0 | 8,247 |
| Masco Corporation | COM | 574599106 | 9,856 | 311,701 | SH | | SOLE | 0 | 272,757 | 0 | 38,944 |
| MBIA Inc. | COM | 55262C100 | 59,146 | 5,527,683 | SH | | SOLE | 0 | 4,829,446 | 0 | 698,237 |
| Moodys Corporation | COM | 615369105 | 3,066 | 32,528 | SH | | SOLE | 0 | 28,333 | 0 | 4,195 |
| MGM Resorts International | COM | 552953101 | 53,519 | 1,856,354 | SH | | SOLE | 0 | 1,617,702 | 0 | 238,652 |
| Mohawk Industries, Inc. | COM | 608190104 | 14,158 | 70,904 | SH | | SOLE | 0 | 62,129 | 0 | 8,775 |
| MARKEL CORPORATION | COM | 570535104 | 13,189 | 14,582 | SH | | SOLE | 0 | 12,697 | 0 | 1,885 |
| Altria Group, Inc. | COM | 02209S103 | 16,693 | 246,870 | SH | | SOLE | 0 | 214,896 | 0 | 31,974 |
| MOSAIC COMPANY | COM | 61945C103 | 4,556 | 155,332 | SH | | SOLE | 0 | 135,403 | 0 | 19,929 |
| Morgan Stanley | COM | 617446448 | 15,984 | 378,320 | SH | | SOLE | 0 | 330,761 | 0 | 47,559 |
| Microsoft Corporation | COM | 594918104 | 17,811 | 286,632 | SH | | SOLE | 0 | 251,143 | 0 | 35,489 |
| Micron Technology, Inc. | COM | 595112103 | 37,983 | 1,732,783 | SH | | SOLE | 0 | 1,513,384 | 0 | 219,399 |
| INGEVITY CORP | COM | 45688C107 | 1,071 | 19,516 | SH | | SOLE | 0 | 17,197 | 0 | 2,319 |
| NII HOLDINGS, INC ORD SHARES | COM | 62913F508 | 1,752 | 815,044 | SH | | SOLE | 0 | 711,131 | 0 | 103,913 |
| Blue Nile, Inc. | COM | 09578R103 | 8,248 | 203,010 | SH | | SOLE | 0 | 177,876 | 0 | 25,134 |
| NAVIOS MARITIME ACQUISITION CORPORATION | COM | Y62159101 | 454 | 267,240 | SH | | SOLE | 0 | 233,472 | 0 | 33,768 |
| NOAH HOLDINGS LTD. SPONSORED ADR CLASS A | COM | 65487X102 | 2,057 | 93,805 | SH | | SOLE | 0 | 81,953 | 0 | 11,852 |
| NetEase, Inc. Sponsored ADR | COM | 64110W102 | 19,004 | 88,253 | SH | | SOLE | 0 | 76,882 | 0 | 11,371 |
| Priceline Group Inc | COM | 741503403 | 58,666 | 40,016 | SH | | SOLE | 0 | 35,016 | 0 | 5,000 |
| POPEYES LOUISIANA KITCHEN, INC. | COM | 732872106 | 4,376 | 72,359 | SH | | SOLE | 0 | 62,936 | 0 | 9,423 |
| Philip Morris International Inc. | COM | 718172109 | 10,652 | 116,433 | SH | | SOLE | 0 | 101,467 | 0 | 14,966 |
| PNC FINANCIAL SERVICES GROUP INC WARRANTS 2010-31. | CONV BONDS | 693475121 | 12,854 | 260,616 | PRN | | SOLE | 0 | 227,812 | 0 | 32,804 |
| PAYPAL HOLDINGS INC | COM | 70450Y103 | 50,216 | 1,272,256 | SH | | SOLE | 0 | 1,110,624 | 0 | 161,632 |
| PAPA JOHN`S INTERNATIONAL, INC. | COM | 698813102 | 5,630 | 65,791 | SH | | SOLE | 0 | 57,242 | 0 | 8,549 |
| Liberty Interactive Corporation QVC Group | COM | 53071M104 | 11,190 | 560,077 | SH | | SOLE | 0 | 490,751 | 0 | 69,326 |
| RALPH LAUREN CORPORATION CLASS A | COM | 751212101 | 14,063 | 155,702 | SH | | SOLE | 0 | 136,048 | 0 | 19,654 |
| Raytheon Company | COM | 755111507 | 8,705 | 61,302 | SH | | SOLE | 0 | 53,664 | 0 | 7,638 |
| Ryanair Holdings Plc Sponsored ADR | COM | 783513203 | 4,246 | 50,998 | SH | | SOLE | 0 | 43,864 | 0 | 7,134 |
| SCORPIO BULKERS, INC. | COM | Y7546A122 | 2,483 | 491,771 | SH | | SOLE | 0 | 429,630 | 0 | 62,141 |
| SOUTHERN COPPER CORPORATION | COM | 84265V105 | 7,420 | 232,316 | SH | | SOLE | 0 | 202,290 | 0 | 30,026 |
| Charles Schwab Corporation | COM | 808513105 | 26,392 | 668,666 | SH | | SOLE | 0 | 582,617 | 0 | 86,049 |
| Sherwin-Williams Company | COM | 824348106 | 22,580 | 84,021 | SH | | SOLE | 0 | 73,461 | 0 | 10,560 |
| Signet Jewelers Limited | COM | G81276100 | 9,997 | 106,059 | SH | | SOLE | 0 | 92,807 | 0 | 13,252 |
| SL Green Realty Corp. | COM | 78440X101 | 39,602 | 368,221 | SH | | SOLE | 0 | 321,053 | 0 | 47,168 |
| Scotts Miracle-Gro Company Class A | COM | 810186106 | 13,323 | 139,435 | SH | | SOLE | 0 | 122,307 | 0 | 17,128 |
| SCORPIO TANKERS INC. | COM | Y7542C106 | 8,034 | 1,773,586 | SH | | SOLE | 0 | 1,547,135 | 0 | 226,451 |
| Seagate Technology PLC | COM | G7945M107 | 14,203 | 372,108 | SH | | SOLE | 0 | 325,305 | 0 | 46,803 |
| Synchrony Financial | COM | 87165B103 | 48,871 | 1,347,424 | SH | | SOLE | 0 | 1,177,492 | 0 | 169,932 |
| THOR INDUSTRIES, INC. | COM | 885160101 | 3,290 | 32,887 | SH | | SOLE | 0 | 28,738 | 0 | 4,149 |
| Tribune Media Co. Class A | COM | 896047503 | 8,919 | 254,968 | SH | | SOLE | 0 | 222,802 | 0 | 32,166 |
| TripAdvisor, Inc. | COM | 896945201 | 8,205 | 176,939 | SH | | SOLE | 0 | 154,598 | 0 | 22,341 |
| Tronc Inc | COM | 89703P107 | 584 | 42,085 | SH | | SOLE | 0 | 36,862 | 0 | 5,223 |
| Tractor Supply Company | COM | 892356106 | 32,324 | 426,383 | SH | | SOLE | 0 | 373,039 | 0 | 53,344 |
| Taiwan Semiconductor Manufacturing Co., Ltd. Spons | COM | 874039100 | 43,359 | 1,508,155 | SH | | SOLE | 0 | 1,318,849 | 0 | 189,306 |
| Tesoro Corporation | COM | 881609101 | 6,058 | 69,273 | SH | | SOLE | 0 | 60,465 | 0 | 8,808 |
| ISHARES MSCI TURKEY ETF | COM | 464286715 | 2,111 | 65,003 | SH | | SOLE | 0 | 65,003 | 0 | 0 |
| TWITTER, INC. | COM | 90184L102 | 4,317 | 264,849 | SH | | SOLE | 0 | 230,726 | 0 | 34,123 |
| TEXAS INSTRUMENTS INCORPORATED | COM | 882508104 | 5,733 | 78,565 | SH | | SOLE | 0 | 68,691 | 0 | 9,874 |
| United Continental Holdings, Inc. | COM | 910047109 | 31,743 | 435,550 | SH | | SOLE | 0 | 379,710 | 0 | 55,840 |
| NET 1 UEPS TECHNOLOGIES, INC. | COM | 64107N206 | 2,561 | 223,081 | SH | | SOLE | 0 | 194,651 | 0 | 28,430 |
| UNION PACIFIC CORPORATION | COM | 907818108 | 25,546 | 246,389 | SH | | SOLE | 0 | 215,207 | 0 | 31,182 |
| USG Corporation | COM | 903293405 | 5,910 | 204,626 | SH | | SOLE | 0 | 179,085 | 0 | 25,541 |
| VEECO INSTRUMENTS INC. | COM | 922417100 | 8,085 | 277,365 | SH | | SOLE | 0 | 241,619 | 0 | 35,746 |
| VIPSHOP HOLDINGS LTD SPONSORED ADR | COM | 92763W103 | 3,939 | 357,736 | SH | | SOLE | 0 | 312,058 | 0 | 45,678 |
| Verisk Analytics, Inc. Class A | COM | 92345Y106 | 11,202 | 138,006 | SH | | SOLE | 0 | 120,503 | 0 | 17,503 |
| Verizon Communications Inc. | COM | 92343V104 | 5,959 | 111,625 | SH | | SOLE | 0 | 97,543 | 0 | 14,082 |
| Walgreens Boots Alliance Inc | COM | 931427108 | 1,967 | 23,770 | SH | | SOLE | 0 | 20,792 | 0 | 2,978 |
| Western Digital Corporation | COM | 958102105 | 7,620 | 112,136 | SH | | SOLE | 0 | 98,336 | 0 | 13,800 |
| Wells Fargo & Company | COM | 949746101 | 52,556 | 953,664 | SH | | SOLE | 0 | 831,669 | 0 | 121,995 |
| WELLS FARGO & CO WARRANTS 2010-28.10.18 ON SHS | CONV BONDS | 949746119 | 5,226 | 245,022 | PRN | | SOLE | 0 | 213,402 | 0 | 31,620 |
| WHIRLPOOL CORPORATION | COM | 963320106 | 6,718 | 36,957 | SH | | SOLE | 0 | 32,311 | 0 | 4,646 |
| WILLIS TOWERS WATSON PLC | COM | G96629103 | 28,504 | 233,102 | SH | | SOLE | 0 | 204,069 | 0 | 29,033 |
| WESTROCK CO. | COM | 96145D105 | 5,818 | 114,601 | SH | | SOLE | 0 | 100,729 | 0 | 13,872 |
| YANDEX N.V. | COM | N97284108 | 6,901 | 342,809 | SH | | SOLE | 0 | 298,596 | 0 | 44,213 |
