| 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 | 16,167 | 400,163 | SH | | SOLE | 0 | 342,500 | 0 | 57,663 |
| ALTABA INC. | COM | 021346101 | 22,251 | 326,648 | SH | | SOLE | 0 | 280,381 | 0 | 46,267 |
| American Airlines Group, Inc. | COM | 02376R102 | 99,780 | 2,414,235 | SH | | SOLE | 0 | 2,068,680 | 0 | 345,555 |
| ADVANCE AUTO PARTS, INC. | COM | 00751Y106 | 6,606 | 39,246 | SH | | SOLE | 0 | 33,459 | 0 | 5,787 |
| ADIENT PLC | COM | G0084W101 | 2,033 | 51,717 | SH | | SOLE | 0 | 44,145 | 0 | 7,572 |
| Alliance Data Systems Corporation | COM | 018581108 | 11,109 | 47,041 | SH | | SOLE | 0 | 40,297 | 0 | 6,744 |
| American International Group, Inc. | COM | 026874784 | 84,330 | 1,583,956 | SH | | SOLE | 0 | 1,357,081 | 0 | 226,875 |
| AMERICAN INTERNATIONAL GROUP INC WARRANTS 2011-19. | CONV BONDS | 026874156 | 54,629 | 3,736,614 | PRN | | SOLE | 0 | 3,197,266 | 0 | 539,348 |
| America Movil SAB de CV Sponsored ADR Class L | COM | 02364W105 | 6,025 | 375,134 | SH | | SOLE | 0 | 321,309 | 0 | 53,825 |
| Amazon.com, Inc. | COM | 023135106 | 301,437 | 150,493 | SH | | SOLE | 0 | 128,863 | 0 | 21,630 |
| Andeavor | COM | 03349M105 | 13,121 | 85,480 | SH | | SOLE | 0 | 73,925 | 0 | 11,555 |
| Anthem, Inc. | COM | 036752103 | 27,978 | 102,092 | SH | | SOLE | 0 | 87,450 | 0 | 14,642 |
| APACHE CORPORATION | COM | 037411105 | 4,793 | 100,540 | SH | | SOLE | 0 | 86,067 | 0 | 14,473 |
| ACTIVISION BLIZZARD INC | COM | 00507V109 | 33,184 | 398,899 | SH | | SOLE | 0 | 341,912 | 0 | 56,987 |
| BROADCOM LIMITED | COM | 11135F101 | 8,758 | 35,495 | SH | | SOLE | 0 | 30,425 | 0 | 5,070 |
| American Express Company | COM | 025816109 | 66,029 | 620,048 | SH | | SOLE | 0 | 530,907 | 0 | 89,141 |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | COM | 01609W102 | 2,895 | 17,574 | SH | | SOLE | 0 | 14,831 | 0 | 2,743 |
| Bank of America Corporation | COM | 060505104 | 175,062 | 5,942,357 | SH | | SOLE | 0 | 5,088,125 | 0 | 854,232 |
| BANK OF AMERICA CORP WARRANTS 2009-16.1.19 ON SHS | CONV BONDS | 060505146 | 75,631 | 4,246,523 | PRN | | SOLE | 0 | 3,628,372 | 0 | 618,151 |
| BANK OF AMERICA CORP WARRANTS 2009-28.10.18 ON SHS | CONV BONDS | 060505153 | 528 | 1,759,020 | PRN | | SOLE | 0 | 1,503,647 | 0 | 255,373 |
| Liberty Braves Group - Class C | COM | 531229888 | 211 | 7,758 | SH | | SOLE | 0 | 6,992 | 0 | 766 |
| Belmond Ltd. Class A | COM | G1154H107 | 46,965 | 2,573,449 | SH | | SOLE | 0 | 2,209,935 | 0 | 363,514 |
| Sotheby s Class A | COM | 835898107 | 15,559 | 316,297 | SH | | SOLE | 0 | 271,034 | 0 | 45,263 |
| BAIDU, INC. SPONSORED ADR CLASS A | COM | 056752108 | 18,276 | 79,919 | SH | | SOLE | 0 | 68,434 | 0 | 11,485 |
| Bio-Rad Laboratories, Inc. Class A | COM | 090572207 | 30,302 | 96,813 | SH | | SOLE | 0 | 82,649 | 0 | 14,164 |
| Booking Holdings Inc. | COM | 09857L108 | 96,405 | 48,591 | SH | | SOLE | 0 | 41,639 | 0 | 6,952 |
| TOPBUILD CORP. | COM | 89055F103 | 2,373 | 41,764 | SH | | SOLE | 0 | 35,794 | 0 | 5,970 |
| Bristol-Myers Squibb Company | COM | 110122108 | 13,134 | 211,566 | SH | | SOLE | 0 | 181,468 | 0 | 30,098 |
| Berkshire Hathaway Inc. Class B | COM | 084670702 | 85,507 | 399,358 | SH | | SOLE | 0 | 341,970 | 0 | 57,388 |
| PEABODY ENERGY CORPORATION | COM | 704551100 | 30,152 | 846,014 | SH | | SOLE | 0 | 721,970 | 0 | 124,044 |
| Citigroup Inc. | COM | 172967424 | 173,504 | 2,418,508 | SH | | SOLE | 0 | 2,070,664 | 0 | 347,844 |
| CITIGROUP INC WARRANTS 2011-4.1.19 ON SHS | CONV BONDS | 172967226 | 10 | 6,816,781 | PRN | | SOLE | 0 | 5,823,067 | 0 | 993,714 |
| Avis Budget Group, Inc. | COM | 053774105 | 6,359 | 197,844 | SH | | SOLE | 0 | 169,633 | 0 | 28,211 |
| CBRE Group, Inc. Class A | COM | 12504L109 | 104,245 | 2,363,832 | SH | | SOLE | 0 | 2,025,127 | 0 | 338,705 |
| Citizens Financial Group, Inc. | COM | 174610105 | 48,131 | 1,247,875 | SH | | SOLE | 0 | 1,068,194 | 0 | 179,681 |
| Charter Communications Inc. Class A | COM | 16119P108 | 10,038 | 30,802 | SH | | SOLE | 0 | 26,396 | 0 | 4,406 |
| CoreLogic, Inc. | COM | 21871D103 | 24,958 | 505,116 | SH | | SOLE | 0 | 432,106 | 0 | 73,010 |
| COMCAST CORPORATION CLASS A | COM | 20030N101 | 21,216 | 599,161 | SH | | SOLE | 0 | 512,889 | 0 | 86,272 |
| Capital One Financial Corporation | COM | 14040H105 | 59,828 | 630,230 | SH | | SOLE | 0 | 539,314 | 0 | 90,916 |
| Costco Wholesale Corporation | COM | 22160K105 | 138,787 | 590,883 | SH | | SOLE | 0 | 505,853 | 0 | 85,030 |
| Coty Inc. Class A | COM | 222070203 | 2,127 | 169,378 | SH | | SOLE | 0 | 145,887 | 0 | 23,491 |
| CENTURYLINK, INC. | COM | 156700106 | 18,695 | 881,836 | SH | | SOLE | 0 | 755,477 | 0 | 126,359 |
| CTRIP.COM INTERNATIONAL LTD. SPONSORED ADR | COM | 22943F100 | 4,365 | 117,440 | SH | | SOLE | 0 | 100,197 | 0 | 17,243 |
| Cognizant Technology Solutions Corporation Class A | COM | 192446102 | 22,634 | 293,374 | SH | | SOLE | 0 | 251,396 | 0 | 41,978 |
| Cemex SAB de CV Sponsored ADR | COM | 151290889 | 44,948 | 6,384,672 | SH | | SOLE | 0 | 5,461,369 | 0 | 923,303 |
| CAESARS ENTERTAINMENT CORPORATION | COM | 127686103 | 11,713 | 1,142,765 | SH | | SOLE | 0 | 978,204 | 0 | 164,561 |
| Delta Air Lines, Inc. | COM | 247361702 | 124,151 | 2,146,835 | SH | | SOLE | 0 | 1,838,571 | 0 | 308,264 |
| DHT HOLDINGS, INC. | COM | Y2065G121 | 17,164 | 3,651,945 | SH | | SOLE | 0 | 3,133,048 | 0 | 518,897 |
| DISCOVERY INC - A | COM | 25470F104 | 25,174 | 786,681 | SH | | SOLE | 0 | 673,451 | 0 | 113,230 |
| NOW Inc | COM | 67011P100 | 16,646 | 1,005,793 | SH | | SOLE | 0 | 860,775 | 0 | 145,018 |
| DIANA SHIPPING INC. | COM | Y2066G104 | 19,523 | 4,738,709 | SH | | SOLE | 0 | 4,044,298 | 0 | 694,411 |
| DOWDUPONT INC | COM | 26078J100 | 21,495 | 334,240 | SH | | SOLE | 0 | 286,327 | 0 | 47,913 |
| DXC Technology Co | COM | 23355L106 | 25,073 | 268,101 | SH | | SOLE | 0 | 229,378 | 0 | 38,723 |
| eBay Inc. | COM | 278642103 | 23,602 | 714,788 | SH | | SOLE | 0 | 611,863 | 0 | 102,925 |
| EPAM Systems, Inc. | COM | 29414B104 | 30,168 | 219,088 | SH | | SOLE | 0 | 187,675 | 0 | 31,413 |
| ENSCO PLC CLASS A | COM | G3157S106 | 19,650 | 2,328,175 | SH | | SOLE | 0 | 1,994,127 | 0 | 334,048 |
| ISHARES MSCI SOUTH KOREA CAP ETF | COM | 464286772 | 2,801 | 41,027 | SH | | SOLE | 0 | 41,027 | 0 | 0 |
| Ford Motor Company | COM | 345370860 | 23,064 | 2,493,376 | SH | | SOLE | 0 | 2,132,939 | 0 | 360,437 |
| FIRSTCASH INC. | COM | 33767D105 | 14,880 | 181,468 | SH | | SOLE | 0 | 155,432 | 0 | 26,036 |
| FREEPORT-MCMORAN, INC. | COM | 35671D857 | 12,488 | 897,101 | SH | | SOLE | 0 | 765,545 | 0 | 131,556 |
| Fluor Corporation | COM | 343412102 | 3,222 | 55,452 | SH | | SOLE | 0 | 47,613 | 0 | 7,839 |
| Federal National Mortgage Association | COM | 313586109 | 691 | 479,758 | SH | | SOLE | 0 | 412,458 | 0 | 67,300 |
| Liberty Media Corp Series A Liberty Formula One | COM | 531229870 | 1,681 | 47,243 | SH | | SOLE | 0 | 39,887 | 0 | 7,356 |
| Liberty Media Corp Series C Liberty Formula One | COM | 531229854 | 2,238 | 60,188 | SH | | SOLE | 0 | 51,604 | 0 | 8,584 |
| Graco Inc. | COM | 384109104 | 14,181 | 306,021 | SH | | SOLE | 0 | 262,022 | 0 | 43,999 |
| GCI LIBERTY INC NPV A | COM | 36164V305 | 3,592 | 70,435 | SH | | SOLE | 0 | 60,235 | 0 | 10,200 |
| GOLAR LNG LIMITED | COM | G9456A100 | 8,164 | 293,654 | SH | | SOLE | 0 | 251,386 | 0 | 42,268 |
| CORNING INCORPORATED | COM | 219350105 | 5,906 | 167,302 | SH | | SOLE | 0 | 143,443 | 0 | 23,859 |
| Alphabet Inc. Class C | COM | 02079K107 | 147,669 | 123,731 | SH | | SOLE | 0 | 105,897 | 0 | 17,834 |
| Alphabet Inc. Class A | COM | 02079K305 | 12,744 | 10,558 | SH | | SOLE | 0 | 9,006 | 0 | 1,552 |
| Garmin Ltd. | COM | H2906T109 | 18,033 | 257,434 | SH | | SOLE | 0 | 220,724 | 0 | 36,710 |
| FERROGLOBE PLC | COM | G33856108 | 5,447 | 666,650 | SH | | SOLE | 0 | 571,278 | 0 | 95,372 |
| Halliburton Company | COM | 406216101 | 2,766 | 68,252 | SH | | SOLE | 0 | 58,349 | 0 | 9,903 |
| Huntington Bancshares Incorporated | COM | 446150104 | 5,470 | 366,634 | SH | | SOLE | 0 | 313,846 | 0 | 52,788 |
| Hanesbrands Inc. | COM | 410345102 | 18,978 | 1,029,757 | SH | | SOLE | 0 | 881,775 | 0 | 147,982 |
| WARRIOR MET COAL, INC. | COM | 93627C101 | 4,037 | 149,279 | SH | | SOLE | 0 | 128,370 | 0 | 20,909 |
| Hackett Group, Inc. | COM | 404609109 | 25,208 | 1,250,993 | SH | | SOLE | 0 | 1,068,731 | 0 | 182,262 |
| HEWLETT PACKARD ENTERPRISE CO. | COM | 42824C109 | 5,865 | 359,597 | SH | | SOLE | 0 | 307,246 | 0 | 52,351 |
| HP Inc | COM | 40434L105 | 9,188 | 356,551 | SH | | SOLE | 0 | 306,578 | 0 | 49,973 |
| Hertz Global Holdings | COM | 42806J106 | 979 | 59,968 | SH | | SOLE | 0 | 52,026 | 0 | 7,942 |
| iHeartMedia, Inc. Class A | COM | 45174J103 | 204 | 453,617 | SH | | SOLE | 0 | 434,505 | 0 | 19,112 |
| iShares MSCI India ETF | COM | 46429B598 | 26,928 | 829,310 | SH | | SOLE | 0 | 661,553 | 0 | 167,757 |
| INTERNATIONAL SEAWAYS, INC. | COM | Y41053102 | 4,893 | 244,398 | SH | | SOLE | 0 | 210,378 | 0 | 34,020 |
| Intel Corporation | COM | 458140100 | 15,894 | 336,087 | SH | | SOLE | 0 | 288,014 | 0 | 48,073 |
| Gartner, Inc. | COM | 366651107 | 29,857 | 188,371 | SH | | SOLE | 0 | 161,474 | 0 | 26,897 |
| JD.com, Inc. Sponsored ADR Class A | COM | 47215P106 | 37,243 | 1,427,491 | SH | | SOLE | 0 | 1,220,219 | 0 | 207,272 |
| Jefferies Financial Group Inc | COM | 47233W109 | 24,324 | 1,107,673 | SH | | SOLE | 0 | 948,774 | 0 | 158,899 |
| JPMorgan Chase & Co. | COM | 46625H100 | 25,319 | 224,379 | SH | | SOLE | 0 | 192,229 | 0 | 32,150 |
| JPMORGAN CHASE & CO WARRANTS 2009-28.10.18 ON SHS | CONV BONDS | 46634E114 | 16,365 | 225,260 | PRN | | SOLE | 0 | 192,478 | 0 | 32,782 |
| KIRBY CORPORATION | COM | 497266106 | 5,887 | 71,579 | SH | | SOLE | 0 | 61,575 | 0 | 10,004 |
| KKR & Co Inc Com Class A | COM | 48251W104 | 26,515 | 972,330 | SH | | SOLE | 0 | 832,098 | 0 | 140,232 |
| Kroger Co. | COM | 501044101 | 47,302 | 1,624,946 | SH | | SOLE | 0 | 1,390,165 | 0 | 234,781 |
| Kansas City Southern | COM | 485170302 | 14,173 | 125,115 | SH | | SOLE | 0 | 107,120 | 0 | 17,995 |
| KT CORPORATION SPONSORED ADR | COM | 48268K101 | 568 | 38,227 | SH | | SOLE | 0 | 38,227 | 0 | 0 |
| Loews Corporation | COM | 540424108 | 11,963 | 238,163 | SH | | SOLE | 0 | 204,125 | 0 | 34,038 |
| Lazard Ltd Class A | COM | G54050102 | 53,289 | 1,107,194 | SH | | SOLE | 0 | 948,339 | 0 | 158,855 |
| Liberty Broadband Corp. Class A | COM | 530307107 | 501 | 5,946 | SH | | SOLE | 0 | 5,023 | 0 | 923 |
| Liberty Broadband Corp. Class C | COM | 530307305 | 6,290 | 74,612 | SH | | SOLE | 0 | 63,358 | 0 | 11,254 |
| Liberty Global Plc Class A | COM | G5480U104 | 34,214 | 1,182,654 | SH | | SOLE | 0 | 1,009,810 | 0 | 172,844 |
| Liberty Global Plc Class C | COM | G5480U120 | 38,759 | 1,376,372 | SH | | SOLE | 0 | 1,176,611 | 0 | 199,761 |
| LEAR CORPORATION | COM | 521865204 | 4,749 | 32,754 | SH | | SOLE | 0 | 28,035 | 0 | 4,719 |
| Liberty Expedia Holdings Inc NPV | COM | 53046P109 | 622 | 13,223 | SH | | SOLE | 0 | 11,130 | 0 | 2,093 |
| LIONS GATE ENTERTAINMENT CORP NPV | COM | 535919500 | 724 | 31,063 | SH | | SOLE | 0 | 26,579 | 0 | 4,484 |
| Liberty Latin America Class A | COM | G9001E102 | 6,741 | 323,482 | SH | | SOLE | 0 | 274,332 | 0 | 49,150 |
| Liberty Latin America Class C | COM | G9001E128 | 11,656 | 565,021 | SH | | SOLE | 0 | 481,161 | 0 | 83,860 |
| LIVANOVA PLC | COM | G5509L101 | 43,405 | 350,125 | SH | | SOLE | 0 | 299,350 | 0 | 50,775 |
| Lowe s Companies, Inc. | COM | 548661107 | 9,289 | 80,897 | SH | | SOLE | 0 | 69,045 | 0 | 11,852 |
| Louisiana-Pacific Corporation | COM | 546347105 | 6,364 | 240,235 | SH | | SOLE | 0 | 205,550 | 0 | 34,685 |
| LAM RESEARCH CORPORATION | COM | 512807108 | 2,891 | 19,055 | SH | | SOLE | 0 | 16,322 | 0 | 2,733 |
| LIBERTY SIRIUSXM GROUP CLASS A | COM | 531229409 | 11,416 | 262,790 | SH | | SOLE | 0 | 224,277 | 0 | 38,513 |
| LIBERTY SIRIUSXM GROUP CLASS C | COM | 531229607 | 13,119 | 301,940 | SH | | SOLE | 0 | 258,254 | 0 | 43,686 |
| Liberty TripAdvisor Holdings Inc Class A | COM | 531465102 | 4,418 | 297,537 | SH | | SOLE | 0 | 253,557 | 0 | 43,980 |
| LYONDELLBASELL INDUSTRIES NV | COM | N53745100 | 8,048 | 78,506 | SH | | SOLE | 0 | 67,451 | 0 | 11,055 |
| Masco Corporation | COM | 574599106 | 10,615 | 290,025 | SH | | SOLE | 0 | 248,612 | 0 | 41,413 |
| MBIA Inc. | COM | 55262C100 | 52,273 | 4,889,906 | SH | | SOLE | 0 | 4,194,265 | 0 | 695,641 |
| MCKESSON CORPORATION | COM | 58155Q103 | 6,409 | 48,315 | SH | | SOLE | 0 | 41,375 | 0 | 6,940 |
| Moodys Corporation | COM | 615369105 | 5,058 | 30,253 | SH | | SOLE | 0 | 25,858 | 0 | 4,395 |
| MICRO FOCUS INTL PLC NPV ADR | COM | 594837304 | 10,335 | 559,250 | SH | | SOLE | 0 | 478,895 | 0 | 80,355 |
| MGM Resorts International | COM | 552953101 | 63,920 | 2,290,214 | SH | | SOLE | 0 | 1,960,579 | 0 | 329,635 |
| Mohawk Industries, Inc. | COM | 608190104 | 15,350 | 87,541 | SH | | SOLE | 0 | 75,027 | 0 | 12,514 |
| MARKEL CORPORATION | COM | 570535104 | 21,336 | 17,952 | SH | | SOLE | 0 | 15,358 | 0 | 2,594 |
| Altria Group, Inc. | COM | 02209S103 | 17,776 | 294,745 | SH | | SOLE | 0 | 241,585 | 0 | 53,160 |
| Morgan Stanley | COM | 617446448 | 16,101 | 345,741 | SH | | SOLE | 0 | 296,353 | 0 | 49,388 |
| Microsoft Corporation | COM | 594918104 | 40,700 | 355,861 | SH | | SOLE | 0 | 304,690 | 0 | 51,171 |
| Micron Technology, Inc. | COM | 595112103 | 41,059 | 907,793 | SH | | SOLE | 0 | 777,486 | 0 | 130,307 |
| INGEVITY CORP | COM | 45688C107 | 2,487 | 24,413 | SH | | SOLE | 0 | 20,827 | 0 | 3,586 |
| NII HOLDINGS, INC ORD SHARES | COM | 62913F508 | 3,640 | 621,229 | SH | | SOLE | 0 | 541,632 | 0 | 79,597 |
| NAVIOS MARITIME ACQUISITION CORPORATION | COM | Y62159101 | 443 | 868,711 | SH | | SOLE | 0 | 758,192 | 0 | 110,519 |
| NOAH HOLDINGS LTD. SPONSORED ADR CLASS A | COM | 65487X102 | 9,219 | 218,781 | SH | | SOLE | 0 | 187,339 | 0 | 31,442 |
| NetEase, Inc. Sponsored ADR | COM | 64110W102 | 24,675 | 108,106 | SH | | SOLE | 0 | 92,655 | 0 | 15,451 |
| PETROLEO BRASILEIRO SA SPONSORED ADR | COM | 71654V408 | 22,877 | 1,895,346 | SH | | SOLE | 0 | 1,626,215 | 0 | 269,131 |
| Philip Morris International Inc. | COM | 718172109 | 13,553 | 166,219 | SH | | SOLE | 0 | 136,694 | 0 | 29,525 |
| PNC FINANCIAL SERVICES GROUP, INC. | COM | 693475105 | 22,260 | 163,451 | SH | | SOLE | 0 | 140,185 | 0 | 23,266 |
| PERSPECTA INC | COM | 715347100 | 3,401 | 132,243 | SH | | SOLE | 0 | 113,051 | 0 | 19,192 |
| PAYPAL HOLDINGS INC | COM | 70450Y103 | 138,529 | 1,577,064 | SH | | SOLE | 0 | 1,351,385 | 0 | 225,679 |
| PAPA JOHN`S INTERNATIONAL, INC. | COM | 698813102 | 9,483 | 184,931 | SH | | SOLE | 0 | 158,422 | 0 | 26,509 |
| Qurate Retail Inc Qvc Gr Com Ser A | COM | 74915M100 | 15,335 | 690,442 | SH | | SOLE | 0 | 590,924 | 0 | 99,518 |
| Raytheon Company | COM | 755111507 | 15,817 | 76,537 | SH | | SOLE | 0 | 65,321 | 0 | 11,216 |
| Ryanair Holdings Plc Sponsored ADR | COM | 783513203 | 7,659 | 79,746 | SH | | SOLE | 0 | 63,243 | 0 | 16,503 |
| SCORPIO BULKERS, INC. | COM | Y7546A122 | 7,307 | 1,007,882 | SH | | SOLE | 0 | 862,592 | 0 | 145,290 |
| SPIRIT AIRLINES, INC. | COM | 848577102 | 8,088 | 172,202 | SH | | SOLE | 0 | 147,142 | 0 | 25,060 |
| SOUTHERN COPPER CORPORATION | COM | 84265V105 | 12,382 | 287,030 | SH | | SOLE | 0 | 245,772 | 0 | 41,258 |
| Sherwin-Williams Company | COM | 824348106 | 40,699 | 89,407 | SH | | SOLE | 0 | 76,566 | 0 | 12,841 |
| Signet Jewelers Limited | COM | G81276100 | 8,606 | 130,528 | SH | | SOLE | 0 | 112,274 | 0 | 18,254 |
| SL Green Realty Corp. | COM | 78440X101 | 26,394 | 270,625 | SH | | SOLE | 0 | 231,756 | 0 | 38,869 |
| Scotts Miracle-Gro Company Class A | COM | 810186106 | 8,956 | 113,759 | SH | | SOLE | 0 | 97,460 | 0 | 16,299 |
| STEEL DYNAMICS, INC. | COM | 858119100 | 6,019 | 133,198 | SH | | SOLE | 0 | 114,234 | 0 | 18,964 |
| SCORPIO TANKERS INC. | COM | Y7542C106 | 19,670 | 9,786,125 | SH | | SOLE | 0 | 8,379,956 | 0 | 1,406,169 |
| Seagate Technology PLC | COM | G7945M107 | 21,735 | 459,031 | SH | | SOLE | 0 | 392,810 | 0 | 66,221 |
| Synchrony Financial | COM | 87165B103 | 54,643 | 1,758,156 | SH | | SOLE | 0 | 1,503,470 | 0 | 254,686 |
| THOR INDUSTRIES, INC. | COM | 885160101 | 4,828 | 57,677 | SH | | SOLE | 0 | 49,443 | 0 | 8,234 |
| TripAdvisor, Inc. | COM | 896945201 | 5,592 | 109,490 | SH | | SOLE | 0 | 93,753 | 0 | 15,737 |
| Tronc Inc | COM | 89703P107 | 847 | 51,860 | SH | | SOLE | 0 | 44,443 | 0 | 7,417 |
| Tractor Supply Company | COM | 892356106 | 45,020 | 495,381 | SH | | SOLE | 0 | 424,878 | 0 | 70,503 |
| Taiwan Semiconductor Manufacturing Co., Ltd. Spons | COM | 874039100 | 82,108 | 1,859,336 | SH | | SOLE | 0 | 1,590,584 | 0 | 268,752 |
| ISHARES MSCI TURKEY ETF | COM | 464286715 | 2,358 | 99,032 | SH | | SOLE | 0 | 99,032 | 0 | 0 |
| TEXAS INSTRUMENTS INCORPORATED | COM | 882508104 | 10,411 | 97,040 | SH | | SOLE | 0 | 83,119 | 0 | 13,921 |
| United Continental Holdings, Inc. | COM | 910047109 | 44,505 | 499,723 | SH | | SOLE | 0 | 428,430 | 0 | 71,293 |
| NET 1 UEPS TECHNOLOGIES, INC. | COM | 64107N206 | 4,162 | 520,266 | SH | | SOLE | 0 | 446,807 | 0 | 73,459 |
| UNION PACIFIC CORPORATION | COM | 907818108 | 49,799 | 305,837 | SH | | SOLE | 0 | 261,612 | 0 | 44,225 |
| MARRIOTT VACATIONS WORLDWIDE CORP | COM | 57164Y107 | 2,702 | 24,180 | SH | | SOLE | 0 | 20,760 | 0 | 3,420 |
| VEECO INSTRUMENTS INC. | COM | 922417100 | 5,274 | 514,516 | SH | | SOLE | 0 | 439,473 | 0 | 75,043 |
| VICI PROPERTIES INC | COM | 925652109 | 3,835 | 177,372 | SH | | SOLE | 0 | 151,981 | 0 | 25,391 |
| VIPSHOP HOLDINGS LTD SPONSORED ADR | COM | 92763W103 | 9,888 | 1,584,617 | SH | | SOLE | 0 | 1,357,317 | 0 | 227,300 |
| VENATOR MATERIALS PLC | COM | G9329Z100 | 3,776 | 419,600 | SH | | SOLE | 0 | 359,561 | 0 | 60,039 |
| Verisk Analytics, Inc. Class A | COM | 92345Y106 | 8,826 | 73,216 | SH | | SOLE | 0 | 62,586 | 0 | 10,630 |
| VISTA OUTDOOR INC | COM | 928377100 | 12,337 | 689,614 | SH | | SOLE | 0 | 589,332 | 0 | 100,282 |
| AQUAVENTURE HOLDINGS LIMITED | COM | G0443N107 | 4,825 | 267,016 | SH | | SOLE | 0 | 228,549 | 0 | 38,467 |
| Western Digital Corporation | COM | 958102105 | 8,031 | 137,191 | SH | | SOLE | 0 | 117,327 | 0 | 19,864 |
| Wells Fargo & Company | COM | 949746101 | 40,352 | 767,734 | SH | | SOLE | 0 | 656,326 | 0 | 111,408 |
| WELLS FARGO & CO WARRANTS 2010-28.10.18 ON SHS | CONV BONDS | 949746119 | 13,297 | 690,021 | PRN | | SOLE | 0 | 590,777 | 0 | 99,244 |
| WHIRLPOOL CORPORATION | COM | 963320106 | 2,698 | 22,720 | SH | | SOLE | 0 | 19,470 | 0 | 3,250 |
| WILLIS TOWERS WATSON PLC | COM | G96629103 | 31,694 | 224,876 | SH | | SOLE | 0 | 192,366 | 0 | 32,510 |
| WALMART INC. | COM | 931142103 | 42,229 | 449,674 | SH | | SOLE | 0 | 383,561 | 0 | 66,113 |
| WESTROCK CO. | COM | 96145D105 | 7,551 | 141,296 | SH | | SOLE | 0 | 121,636 | 0 | 19,660 |
| 58.COM INC. SPONSORED ADR CLASS A | COM | 31680Q104 | 8,143 | 110,638 | SH | | SOLE | 0 | 94,775 | 0 | 15,863 |
| YANDEX N.V. | COM | N97284108 | 15,938 | 484,599 | SH | | SOLE | 0 | 415,193 | 0 | 69,406 |
