| 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 |
| ALCOA CORP. | COM | 013872106 | 19,289 | 411,465 | SH | | SOLE | 0 | 349,009 | 0 | 62,456 |
| American Airlines Group, Inc. | COM | 02376R102 | 94,329 | 2,484,953 | SH | | SOLE | 0 | 2,109,115 | 0 | 375,838 |
| ADVANCE AUTO PARTS, INC. | COM | 00751Y106 | 5,473 | 40,330 | SH | | SOLE | 0 | 34,113 | 0 | 6,217 |
| ADIENT PLC | COM | G0084W101 | 2,613 | 53,128 | SH | | SOLE | 0 | 44,993 | 0 | 8,135 |
| Alliance Data Systems Corporation | COM | 018581108 | 11,275 | 48,350 | SH | | SOLE | 0 | 41,092 | 0 | 7,258 |
| American International Group, Inc. | COM | 026874784 | 86,323 | 1,628,121 | SH | | SOLE | 0 | 1,383,238 | 0 | 244,883 |
| AMERICAN INTERNATIONAL GROUP INC WARRANTS 2011-19. | CONV BONDS | 026874156 | 55,752 | 3,844,961 | PRN | | SOLE | 0 | 3,259,870 | 0 | 585,091 |
| America Movil SAB de CV Sponsored ADR Class L | COM | 02364W105 | 6,432 | 386,061 | SH | | SOLE | 0 | 327,795 | 0 | 58,266 |
| Amazon.com, Inc. | COM | 023135106 | 307,382 | 180,834 | SH | | SOLE | 0 | 153,444 | 0 | 27,390 |
| Andeavor | COM | 03349M105 | 11,578 | 88,257 | SH | | SOLE | 0 | 74,639 | 0 | 13,618 |
| Anthem, Inc. | COM | 036752103 | 25,008 | 105,064 | SH | | SOLE | 0 | 89,171 | 0 | 15,893 |
| APACHE CORPORATION | COM | 037411105 | 4,834 | 103,400 | SH | | SOLE | 0 | 87,739 | 0 | 15,661 |
| ACTIVISION BLIZZARD INC | COM | 00507V109 | 31,361 | 410,912 | SH | | SOLE | 0 | 348,670 | 0 | 62,242 |
| BROADCOM LIMITED | COM | 11135F101 | 8,826 | 36,374 | SH | | SOLE | 0 | 30,872 | 0 | 5,502 |
| American Express Company | COM | 025816109 | 65,760 | 671,020 | SH | | SOLE | 0 | 569,642 | 0 | 101,378 |
| Bank of America Corporation | COM | 060505104 | 168,098 | 5,963,033 | SH | | SOLE | 0 | 5,064,401 | 0 | 898,632 |
| BANK OF AMERICA CORP WARRANTS 2009-16.1.19 ON SHS | CONV BONDS | 060505146 | 88,305 | 5,410,835 | PRN | | SOLE | 0 | 4,583,341 | 0 | 827,494 |
| BANK OF AMERICA CORP WARRANTS 2009-28.10.18 ON SHS | CONV BONDS | 060505153 | 1,104 | 1,809,368 | PRN | | SOLE | 0 | 1,533,027 | 0 | 276,341 |
| Liberty Braves Group - Class C | COM | 531229888 | 208 | 8,037 | SH | | SOLE | 0 | 7,032 | 0 | 1,005 |
| Belmond Ltd. Class A | COM | G1154H107 | 33,306 | 2,987,117 | SH | | SOLE | 0 | 2,527,986 | 0 | 459,131 |
| Sotheby s Class A | COM | 835898107 | 17,676 | 325,284 | SH | | SOLE | 0 | 276,191 | 0 | 49,093 |
| BAIDU, INC. SPONSORED ADR CLASS A | COM | 056752108 | 20,002 | 82,312 | SH | | SOLE | 0 | 69,809 | 0 | 12,503 |
| Bio-Rad Laboratories, Inc. Class A | COM | 090572207 | 28,661 | 99,330 | SH | | SOLE | 0 | 84,266 | 0 | 15,064 |
| Booking Holdings Inc. | COM | 09857L108 | 100,124 | 49,393 | SH | | SOLE | 0 | 41,874 | 0 | 7,519 |
| TOPBUILD CORP. | COM | 89055F103 | 3,371 | 43,024 | SH | | SOLE | 0 | 36,521 | 0 | 6,503 |
| Bristol-Myers Squibb Company | COM | 110122108 | 12,052 | 217,778 | SH | | SOLE | 0 | 185,042 | 0 | 32,736 |
| Berkshire Hathaway Inc. Class B | COM | 084670702 | 76,681 | 410,828 | SH | | SOLE | 0 | 348,591 | 0 | 62,237 |
| PEABODY ENERGY CORPORATION | COM | 704551100 | 40,262 | 885,274 | SH | | SOLE | 0 | 750,956 | 0 | 134,318 |
| Citigroup Inc. | COM | 172967424 | 166,366 | 2,486,050 | SH | | SOLE | 0 | 2,110,933 | 0 | 375,117 |
| CITIGROUP INC WARRANTS 2011-4.1.19 ON SHS | CONV BONDS | 172967226 | 199 | 15,882,446 | PRN | | SOLE | 0 | 13,444,206 | 0 | 2,438,240 |
| Avis Budget Group, Inc. | COM | 053774105 | 6,609 | 203,369 | SH | | SOLE | 0 | 172,892 | 0 | 30,477 |
| CBRE Group, Inc. Class A | COM | 12504L109 | 123,559 | 2,588,173 | SH | | SOLE | 0 | 2,196,177 | 0 | 391,996 |
| Citizens Financial Group, Inc. | COM | 174610105 | 49,887 | 1,282,432 | SH | | SOLE | 0 | 1,088,389 | 0 | 194,043 |
| Charter Communications Inc. Class A | COM | 16119P108 | 9,281 | 31,653 | SH | | SOLE | 0 | 26,912 | 0 | 4,741 |
| CoreLogic, Inc. | COM | 21871D103 | 26,968 | 519,607 | SH | | SOLE | 0 | 440,290 | 0 | 79,317 |
| COMCAST CORPORATION CLASS A | COM | 20030N101 | 40,895 | 1,246,417 | SH | | SOLE | 0 | 1,056,808 | 0 | 189,609 |
| Capital One Financial Corporation | COM | 14040H105 | 59,574 | 648,249 | SH | | SOLE | 0 | 549,604 | 0 | 98,645 |
| Costco Wholesale Corporation | COM | 22160K105 | 126,822 | 606,861 | SH | | SOLE | 0 | 515,161 | 0 | 91,700 |
| Coty Inc. Class A | COM | 222070203 | 2,458 | 174,337 | SH | | SOLE | 0 | 148,755 | 0 | 25,582 |
| CENTURYLINK, INC. | COM | 156700106 | 14,801 | 794,047 | SH | | SOLE | 0 | 674,683 | 0 | 119,364 |
| CTRIP.COM INTERNATIONAL LTD. SPONSORED ADR | COM | 22943F100 | 5,761 | 120,948 | SH | | SOLE | 0 | 102,202 | 0 | 18,746 |
| Cognizant Technology Solutions Corporation Class A | COM | 192446102 | 23,845 | 301,877 | SH | | SOLE | 0 | 256,335 | 0 | 45,542 |
| Cemex SAB de CV Sponsored ADR | COM | 151290889 | 43,029 | 6,559,303 | SH | | SOLE | 0 | 5,565,764 | 0 | 993,539 |
| CAESARS ENTERTAINMENT CORPORATION | COM | 127686103 | 12,585 | 1,176,167 | SH | | SOLE | 0 | 997,438 | 0 | 178,729 |
| Delta Air Lines, Inc. | COM | 247361702 | 109,309 | 2,206,472 | SH | | SOLE | 0 | 1,873,328 | 0 | 333,144 |
| DHT HOLDINGS, INC. | COM | Y2065G121 | 2,571 | 548,231 | SH | | SOLE | 0 | 475,082 | 0 | 73,149 |
| DISCOVERY INC - A | COM | 25470F104 | 22,236 | 808,592 | SH | | SOLE | 0 | 685,654 | 0 | 122,938 |
| NOW Inc | COM | 67011P100 | 13,805 | 1,035,636 | SH | | SOLE | 0 | 877,445 | 0 | 158,191 |
| DIANA SHIPPING INC. | COM | Y2066G104 | 23,460 | 4,877,235 | SH | | SOLE | 0 | 4,125,158 | 0 | 752,077 |
| DOWDUPONT INC | COM | 26078J100 | 22,662 | 343,777 | SH | | SOLE | 0 | 291,779 | 0 | 51,998 |
| DXC Technology Co | COM | 23355L106 | 22,221 | 275,657 | SH | | SOLE | 0 | 233,798 | 0 | 41,859 |
| eBay Inc. | COM | 278642103 | 26,603 | 733,680 | SH | | SOLE | 0 | 622,675 | 0 | 111,005 |
| EPAM Systems, Inc. | COM | 29414B104 | 33,546 | 269,813 | SH | | SOLE | 0 | 228,753 | 0 | 41,060 |
| ENSCO PLC CLASS A | COM | G3157S106 | 13,642 | 1,879,012 | SH | | SOLE | 0 | 1,592,730 | 0 | 286,282 |
| ISHARES MSCI SOUTH KOREA CAP ETF | COM | 464286772 | 2,724 | 40,227 | SH | | SOLE | 0 | 40,227 | 0 | 0 |
| Ford Motor Company | COM | 345370860 | 28,354 | 2,561,361 | SH | | SOLE | 0 | 2,171,440 | 0 | 389,921 |
| FIRSTCASH INC. | COM | 33767D105 | 16,812 | 187,108 | SH | | SOLE | 0 | 158,505 | 0 | 28,603 |
| FREEPORT-MCMORAN, INC. | COM | 35671D857 | 15,948 | 923,962 | SH | | SOLE | 0 | 780,239 | 0 | 143,723 |
| Fluor Corporation | COM | 343412102 | 2,779 | 56,964 | SH | | SOLE | 0 | 48,536 | 0 | 8,428 |
| Federal National Mortgage Association | COM | 313586109 | 699 | 492,279 | SH | | SOLE | 0 | 419,592 | 0 | 72,687 |
| Liberty Media Corp Series A Liberty Formula One | COM | 531229870 | 1,703 | 48,216 | SH | | SOLE | 0 | 40,294 | 0 | 7,922 |
| Liberty Media Corp Series C Liberty Formula One | COM | 531229854 | 2,284 | 61,505 | SH | | SOLE | 0 | 52,255 | 0 | 9,250 |
| Graco Inc. | COM | 384109104 | 14,216 | 314,378 | SH | | SOLE | 0 | 267,092 | 0 | 47,286 |
| GCI LIBERTY INC NPV A | COM | 36164V305 | 3,259 | 72,289 | SH | | SOLE | 0 | 61,202 | 0 | 11,087 |
| GOLAR LNG LIMITED | COM | G9456A100 | 8,908 | 302,384 | SH | | SOLE | 0 | 256,331 | 0 | 46,053 |
| CORNING INCORPORATED | COM | 219350105 | 4,747 | 172,543 | SH | | SOLE | 0 | 146,258 | 0 | 26,285 |
| Alphabet Inc. Class C | COM | 02079K107 | 142,027 | 127,304 | SH | | SOLE | 0 | 108,022 | 0 | 19,282 |
| Alphabet Inc. Class A | COM | 02079K305 | 12,203 | 10,807 | SH | | SOLE | 0 | 9,180 | 0 | 1,627 |
| Garmin Ltd. | COM | H2906T109 | 16,160 | 264,921 | SH | | SOLE | 0 | 225,001 | 0 | 39,920 |
| FERROGLOBE PLC | COM | G33856108 | 4,401 | 513,531 | SH | | SOLE | 0 | 434,978 | 0 | 78,553 |
| HAIN CELESTIAL GROUP, INC. | COM | 405217100 | 4,454 | 149,469 | SH | | SOLE | 0 | 126,527 | 0 | 22,942 |
| Halliburton Company | COM | 406216101 | 3,165 | 70,236 | SH | | SOLE | 0 | 59,476 | 0 | 10,760 |
| Huntington Bancshares Incorporated | COM | 446150104 | 5,562 | 376,843 | SH | | SOLE | 0 | 319,932 | 0 | 56,911 |
| Hanesbrands Inc. | COM | 410345102 | 23,298 | 1,058,020 | SH | | SOLE | 0 | 898,933 | 0 | 159,087 |
| Hackett Group, Inc. | COM | 404609109 | 20,641 | 1,284,452 | SH | | SOLE | 0 | 1,089,574 | 0 | 194,878 |
| HEWLETT PACKARD ENTERPRISE CO. | COM | 42824C109 | 5,399 | 369,544 | SH | | SOLE | 0 | 313,472 | 0 | 56,072 |
| HP Inc | COM | 40434L105 | 8,324 | 366,877 | SH | | SOLE | 0 | 312,744 | 0 | 54,133 |
| Hertz Global Holdings | COM | 42806J106 | 946 | 61,652 | SH | | SOLE | 0 | 53,061 | 0 | 8,591 |
| iHeartMedia, Inc. Class A | COM | 45174J103 | 119 | 476,175 | SH | | SOLE | 0 | 435,236 | 0 | 40,939 |
| ILG INC NPV | COM | 44967H101 | 4,987 | 150,970 | SH | | SOLE | 0 | 128,342 | 0 | 22,628 |
| iShares MSCI India ETF | COM | 46429B598 | 26,675 | 801,287 | SH | | SOLE | 0 | 636,955 | 0 | 164,332 |
| INTERNATIONAL SEAWAYS, INC. | COM | Y41053102 | 5,825 | 251,711 | SH | | SOLE | 0 | 214,517 | 0 | 37,194 |
| Intel Corporation | COM | 458140100 | 17,132 | 344,643 | SH | | SOLE | 0 | 293,029 | 0 | 51,614 |
| Gartner, Inc. | COM | 366651107 | 25,671 | 193,161 | SH | | SOLE | 0 | 164,541 | 0 | 28,620 |
| JD.com, Inc. Sponsored ADR Class A | COM | 47215P106 | 47,985 | 1,231,973 | SH | | SOLE | 0 | 1,042,499 | 0 | 189,474 |
| Jefferies Financial Group Inc | COM | 47233W109 | 25,908 | 1,139,332 | SH | | SOLE | 0 | 967,074 | 0 | 172,258 |
| JPMorgan Chase & Co. | COM | 46625H100 | 24,033 | 230,640 | SH | | SOLE | 0 | 195,955 | 0 | 34,685 |
| JPMORGAN CHASE & CO WARRANTS 2009-28.10.18 ON SHS | CONV BONDS | 46634E114 | 14,686 | 231,523 | PRN | | SOLE | 0 | 196,154 | 0 | 35,369 |
| KIRBY CORPORATION | COM | 497266106 | 6,174 | 73,847 | SH | | SOLE | 0 | 62,781 | 0 | 11,066 |
| KKR & Co. L.P. | COM | 48248M102 | 24,875 | 1,001,000 | SH | | SOLE | 0 | 848,496 | 0 | 152,504 |
| Kroger Co. | COM | 501044101 | 47,549 | 1,671,309 | SH | | SOLE | 0 | 1,417,082 | 0 | 254,227 |
| Kansas City Southern | COM | 485170302 | 13,632 | 128,653 | SH | | SOLE | 0 | 109,222 | 0 | 19,431 |
| KT CORPORATION SPONSORED ADR | COM | 48268K101 | 508 | 38,227 | SH | | SOLE | 0 | 38,227 | 0 | 0 |
| Loews Corporation | COM | 540424108 | 11,823 | 244,890 | SH | | SOLE | 0 | 208,014 | 0 | 36,876 |
| Lazard Ltd Class A | COM | G54050102 | 55,704 | 1,138,902 | SH | | SOLE | 0 | 966,445 | 0 | 172,457 |
| Liberty Broadband Corp. Class A | COM | 530307107 | 460 | 6,076 | SH | | SOLE | 0 | 5,058 | 0 | 1,018 |
| Liberty Broadband Corp. Class C | COM | 530307305 | 5,813 | 76,767 | SH | | SOLE | 0 | 64,574 | 0 | 12,193 |
| Liberty Global Plc Class A | COM | G5480U104 | 38,362 | 1,392,946 | SH | | SOLE | 0 | 1,179,161 | 0 | 213,785 |
| Liberty Global Plc Class C | COM | G5480U120 | 42,589 | 1,600,505 | SH | | SOLE | 0 | 1,356,899 | 0 | 243,606 |
| LEAR CORPORATION | COM | 521865204 | 6,268 | 33,732 | SH | | SOLE | 0 | 28,581 | 0 | 5,151 |
| Liberty Expedia Holdings Inc NPV | COM | 53046P109 | 599 | 13,638 | SH | | SOLE | 0 | 11,203 | 0 | 2,435 |
| LIONS GATE ENTERTAINMENT CORP NPV | COM | 535919500 | 750 | 31,976 | SH | | SOLE | 0 | 27,014 | 0 | 4,962 |
| Liberty Latin America Class A | COM | G9001E102 | 6,342 | 331,695 | SH | | SOLE | 0 | 279,525 | 0 | 52,170 |
| Liberty Latin America Class C | COM | G9001E128 | 11,249 | 580,455 | SH | | SOLE | 0 | 490,422 | 0 | 90,033 |
| LIVANOVA PLC | COM | G5509L101 | 35,881 | 359,460 | SH | | SOLE | 0 | 304,928 | 0 | 54,532 |
| Lowe s Companies, Inc. | COM | 548661107 | 7,948 | 83,165 | SH | | SOLE | 0 | 70,361 | 0 | 12,804 |
| Louisiana-Pacific Corporation | COM | 546347105 | 6,727 | 247,136 | SH | | SOLE | 0 | 209,629 | 0 | 37,507 |
| LAM RESEARCH CORPORATION | COM | 512807108 | 3,390 | 19,612 | SH | | SOLE | 0 | 16,643 | 0 | 2,969 |
| LIBERTY SIRIUSXM GROUP CLASS A | COM | 531229409 | 12,184 | 270,466 | SH | | SOLE | 0 | 228,753 | 0 | 41,713 |
| LIBERTY SIRIUSXM GROUP CLASS C | COM | 531229607 | 14,087 | 310,570 | SH | | SOLE | 0 | 263,383 | 0 | 47,187 |
| Liberty TripAdvisor Holdings Inc Class A | COM | 531465102 | 4,930 | 306,208 | SH | | SOLE | 0 | 258,460 | 0 | 47,748 |
| LYONDELLBASELL INDUSTRIES NV | COM | N53745100 | 8,898 | 81,004 | SH | | SOLE | 0 | 68,771 | 0 | 12,233 |
| Masco Corporation | COM | 574599106 | 11,160 | 298,232 | SH | | SOLE | 0 | 253,483 | 0 | 44,749 |
| MBIA Inc. | COM | 55262C100 | 46,150 | 5,105,138 | SH | | SOLE | 0 | 4,321,175 | 0 | 783,963 |
| MCKESSON CORPORATION | COM | 58155Q103 | 6,639 | 49,767 | SH | | SOLE | 0 | 42,184 | 0 | 7,583 |
| Moodys Corporation | COM | 615369105 | 7,094 | 41,593 | SH | | SOLE | 0 | 35,209 | 0 | 6,384 |
| MICRO FOCUS INTL PLC NPV ADR | COM | 594837304 | 9,929 | 574,951 | SH | | SOLE | 0 | 487,991 | 0 | 86,960 |
| MGM Resorts International | COM | 552953101 | 68,423 | 2,356,968 | SH | | SOLE | 0 | 1,998,235 | 0 | 358,733 |
| Mohawk Industries, Inc. | COM | 608190104 | 19,275 | 89,955 | SH | | SOLE | 0 | 76,461 | 0 | 13,494 |
| MARKEL CORPORATION | COM | 570535104 | 20,067 | 18,506 | SH | | SOLE | 0 | 15,664 | 0 | 2,842 |
| Altria Group, Inc. | COM | 02209S103 | 17,429 | 306,910 | SH | | SOLE | 0 | 250,181 | 0 | 56,729 |
| Morgan Stanley | COM | 617446448 | 16,872 | 355,946 | SH | | SOLE | 0 | 302,147 | 0 | 53,799 |
| Microsoft Corporation | COM | 594918104 | 36,021 | 365,292 | SH | | SOLE | 0 | 310,474 | 0 | 54,818 |
| Micron Technology, Inc. | COM | 595112103 | 48,921 | 932,891 | SH | | SOLE | 0 | 792,540 | 0 | 140,351 |
| INGEVITY CORP | COM | 45688C107 | 2,028 | 25,077 | SH | | SOLE | 0 | 21,236 | 0 | 3,841 |
| NII HOLDINGS, INC ORD SHARES | COM | 62913F508 | 2,330 | 597,490 | SH | | SOLE | 0 | 535,834 | 0 | 61,656 |
| NAVIOS MARITIME ACQUISITION CORPORATION | COM | Y62159101 | 860 | 1,410,138 | SH | | SOLE | 0 | 1,203,170 | 0 | 206,968 |
| NOAH HOLDINGS LTD. SPONSORED ADR CLASS A | COM | 65487X102 | 11,743 | 225,173 | SH | | SOLE | 0 | 191,053 | 0 | 34,120 |
| NetEase, Inc. Sponsored ADR | COM | 64110W102 | 28,121 | 111,294 | SH | | SOLE | 0 | 94,391 | 0 | 16,903 |
| PETROLEO BRASILEIRO SA SPONSORED ADR | COM | 71654V408 | 19,349 | 1,929,087 | SH | | SOLE | 0 | 1,637,772 | 0 | 291,315 |
| Philip Morris International Inc. | COM | 718172109 | 13,992 | 173,298 | SH | | SOLE | 0 | 141,538 | 0 | 31,760 |
| PNC FINANCIAL SERVICES GROUP, INC. | COM | 693475105 | 22,721 | 168,181 | SH | | SOLE | 0 | 142,871 | 0 | 25,310 |
| PERSPECTA INC | COM | 715347100 | 2,799 | 136,181 | SH | | SOLE | 0 | 115,252 | 0 | 20,929 |
| PAYPAL HOLDINGS INC | COM | 70450Y103 | 134,825 | 1,619,130 | SH | | SOLE | 0 | 1,374,843 | 0 | 244,287 |
| PAPA JOHN`S INTERNATIONAL, INC. | COM | 698813102 | 6,050 | 119,276 | SH | | SOLE | 0 | 100,997 | 0 | 18,279 |
| Qurate Retail Inc Qvc Gr Com Ser A | COM | 74915M100 | 15,064 | 709,891 | SH | | SOLE | 0 | 602,278 | 0 | 107,613 |
| Raytheon Company | COM | 755111507 | 15,194 | 78,650 | SH | | SOLE | 0 | 66,582 | 0 | 12,068 |
| Ryanair Holdings Plc Sponsored ADR | COM | 783513203 | 8,722 | 76,359 | SH | | SOLE | 0 | 63,128 | 0 | 13,231 |
| SCORPIO BULKERS, INC. | COM | Y7546A122 | 7,369 | 1,037,861 | SH | | SOLE | 0 | 879,957 | 0 | 157,904 |
| SPIRIT AIRLINES, INC. | COM | 848577102 | 6,448 | 177,393 | SH | | SOLE | 0 | 149,996 | 0 | 27,397 |
| SOUTHERN COPPER CORPORATION | COM | 84265V105 | 13,866 | 295,839 | SH | | SOLE | 0 | 250,549 | 0 | 45,290 |
| Sherwin-Williams Company | COM | 824348106 | 44,280 | 108,643 | SH | | SOLE | 0 | 92,314 | 0 | 16,329 |
| Signet Jewelers Limited | COM | G81276100 | 7,498 | 134,487 | SH | | SOLE | 0 | 114,468 | 0 | 20,019 |
| SL Green Realty Corp. | COM | 78440X101 | 27,980 | 278,322 | SH | | SOLE | 0 | 236,166 | 0 | 42,156 |
| Scotts Miracle-Gro Company Class A | COM | 810186106 | 9,721 | 116,898 | SH | | SOLE | 0 | 99,354 | 0 | 17,544 |
| STEEL DYNAMICS, INC. | COM | 858119100 | 6,305 | 137,206 | SH | | SOLE | 0 | 116,493 | 0 | 20,713 |
| SCORPIO TANKERS INC. | COM | Y7542C106 | 28,296 | 10,069,700 | SH | | SOLE | 0 | 8,544,008 | 0 | 1,525,692 |
| Seagate Technology PLC | COM | G7945M107 | 26,676 | 472,395 | SH | | SOLE | 0 | 400,424 | 0 | 71,971 |
| Synchrony Financial | COM | 87165B103 | 60,282 | 1,805,945 | SH | | SOLE | 0 | 1,531,479 | 0 | 274,466 |
| THOR INDUSTRIES, INC. | COM | 885160101 | 5,784 | 59,386 | SH | | SOLE | 0 | 50,416 | 0 | 8,970 |
| TripAdvisor, Inc. | COM | 896945201 | 12,544 | 225,173 | SH | | SOLE | 0 | 190,590 | 0 | 34,583 |
| Tronc Inc | COM | 89703P107 | 921 | 53,299 | SH | | SOLE | 0 | 45,289 | 0 | 8,010 |
| Tractor Supply Company | COM | 892356106 | 39,024 | 510,183 | SH | | SOLE | 0 | 433,034 | 0 | 77,149 |
| Taiwan Semiconductor Manufacturing Co., Ltd. Spons | COM | 874039100 | 69,843 | 1,910,360 | SH | | SOLE | 0 | 1,620,813 | 0 | 289,547 |
| ISHARES MSCI TURKEY ETF | COM | 464286715 | 4,107 | 135,888 | SH | | SOLE | 0 | 65,288 | 0 | 70,600 |
| TEXAS INSTRUMENTS INCORPORATED | COM | 882508104 | 11,008 | 99,850 | SH | | SOLE | 0 | 84,752 | 0 | 15,098 |
| United Continental Holdings, Inc. | COM | 910047109 | 35,871 | 514,424 | SH | | SOLE | 0 | 436,759 | 0 | 77,665 |
| NET 1 UEPS TECHNOLOGIES, INC. | COM | 64107N206 | 4,864 | 535,730 | SH | | SOLE | 0 | 455,646 | 0 | 80,084 |
| UNION PACIFIC CORPORATION | COM | 907818108 | 44,509 | 314,153 | SH | | SOLE | 0 | 266,467 | 0 | 47,686 |
| USG Corporation | COM | 903293405 | 11,195 | 259,616 | SH | | SOLE | 0 | 220,855 | 0 | 38,761 |
| VEECO INSTRUMENTS INC. | COM | 922417100 | 7,542 | 529,260 | SH | | SOLE | 0 | 447,927 | 0 | 81,333 |
| VIPSHOP HOLDINGS LTD SPONSORED ADR | COM | 92763W103 | 17,700 | 1,631,349 | SH | | SOLE | 0 | 1,383,464 | 0 | 247,885 |
| VENATOR MATERIALS PLC | COM | G9329Z100 | 2,949 | 180,233 | SH | | SOLE | 0 | 153,034 | 0 | 27,199 |
| Verisk Analytics, Inc. Class A | COM | 92345Y106 | 9,978 | 92,702 | SH | | SOLE | 0 | 78,351 | 0 | 14,351 |
| VISTA OUTDOOR INC | COM | 928377100 | 10,983 | 709,015 | SH | | SOLE | 0 | 600,554 | 0 | 108,461 |
| AQUAVENTURE HOLDINGS LIMITED | COM | G0443N107 | 4,282 | 274,810 | SH | | SOLE | 0 | 233,075 | 0 | 41,735 |
| Western Digital Corporation | COM | 958102105 | 10,919 | 141,058 | SH | | SOLE | 0 | 119,603 | 0 | 21,455 |
| Wells Fargo & Company | COM | 949746101 | 43,783 | 789,745 | SH | | SOLE | 0 | 669,024 | 0 | 120,721 |
| WELLS FARGO & CO WARRANTS 2010-28.10.18 ON SHS | CONV BONDS | 949746119 | 15,636 | 710,094 | PRN | | SOLE | 0 | 602,343 | 0 | 107,751 |
| WHIRLPOOL CORPORATION | COM | 963320106 | 3,420 | 23,391 | SH | | SOLE | 0 | 19,854 | 0 | 3,537 |
| WILLIS TOWERS WATSON PLC | COM | G96629103 | 35,017 | 230,985 | SH | | SOLE | 0 | 195,954 | 0 | 35,031 |
| WALMART INC. | COM | 931142103 | 38,017 | 443,862 | SH | | SOLE | 0 | 390,996 | 0 | 52,866 |
| WESTROCK CO. | COM | 96145D105 | 8,282 | 145,247 | SH | | SOLE | 0 | 123,933 | 0 | 21,314 |
| YANDEX N.V. | COM | N97284108 | 17,920 | 499,170 | SH | | SOLE | 0 | 423,217 | 0 | 75,953 |
