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 Corporation | Common Stocks | 013872106 | 21,258,768 | 562,699 | SH | | SOLE | | 562,699 | 0 | 0 |
ALPHA METALLURGICAL RESOURCES, INC. | Common Stocks | 020764106 | 11,050,626 | 55,220 | SH | | SOLE | | 55,220 | 0 | 0 |
Alphabet Inc. Class C | Common Stocks | 02079K107 | 101,566,603 | 533,326 | SH | | SOLE | | 533,326 | 0 | 0 |
Amazon.com, Inc. | Common Stocks | 023135106 | 96,403,696 | 439,417 | SH | | SOLE | | 439,417 | 0 | 0 |
American Airlines Group Inc. | Common Stocks | 02376R102 | 23,125,340 | 1,326,755 | SH | | SOLE | | 1,326,755 | 0 | 0 |
American Express Company | Common Stocks | 025816109 | 87,355,091 | 294,333 | SH | | SOLE | | 294,333 | 0 | 0 |
American International Group, Inc. | Common Stocks | 026874784 | 84,915,158 | 1,166,417 | SH | | SOLE | | 1,166,417 | 0 | 0 |
Applied Materials, Inc. | Common Stocks | 038222105 | 12,677,009 | 77,950 | SH | | SOLE | | 77,950 | 0 | 0 |
Arch Resources INC | Common Stocks | 03940R107 | 10,783,700 | 76,361 | SH | | SOLE | | 76,361 | 0 | 0 |
Bank of America Corp | Common Stocks | 060505104 | 72,835,874 | 1,657,244 | SH | | SOLE | | 1,657,244 | 0 | 0 |
Berkshire Hathaway Inc. Class B | Common Stocks | 084670702 | 66,438,609 | 146,573 | SH | | SOLE | | 146,573 | 0 | 0 |
Bio-Rad Laboratories, Inc. Class A | Common Stocks | 090572207 | 18,065,422 | 54,992 | SH | | SOLE | | 54,992 | 0 | 0 |
Booking Holdings Inc. | Common Stocks | 09857L108 | 75,937,331 | 15,284 | SH | | SOLE | | 15,284 | 0 | 0 |
Broadcom Inc. | Common Stocks | 11135F101 | 53,416,400 | 230,402 | SH | | SOLE | | 230,402 | 0 | 0 |
Brookfield Corporation | Common Stocks | 11271J107 | 5,853,293 | 101,885 | SH | | SOLE | | 101,885 | 0 | 0 |
Caesars Entertainment Inc | Common Stocks | 12769G100 | 4,745,640 | 142,000 | SH | | SOLE | | 142,000 | 0 | 0 |
Capital One Financial Corp | Common Stocks | 14040H105 | 55,162,935 | 309,348 | SH | | SOLE | | 309,348 | 0 | 0 |
CBRE Group, Inc. Class A | Common Stocks | 12504L109 | 74,746,942 | 569,327 | SH | | SOLE | | 569,327 | 0 | 0 |
Cemex SAB de CV Sponsored ADR | Common Stocks | 151290889 | 28,936,832 | 5,130,644 | SH | | SOLE | | 5,130,644 | 0 | 0 |
Centene Corporation | Common Stocks | 15135B101 | 4,133,495 | 68,232 | SH | | SOLE | | 68,232 | 0 | 0 |
Charles Schwab Corp | Common Stocks | 808513105 | 30,542,003 | 412,674 | SH | | SOLE | | 412,674 | 0 | 0 |
CHEVRON CORPORATION | Common Stocks | 166764100 | 5,678,597 | 39,206 | SH | | SOLE | | 39,206 | 0 | 0 |
Citigroup Inc. | Common Stocks | 172967424 | 87,300,212 | 1,240,236 | SH | | SOLE | | 1,240,236 | 0 | 0 |
Citizens Financial Group, Inc. | Common Stocks | 174610105 | 13,214,995 | 301,988 | SH | | SOLE | | 301,988 | 0 | 0 |
ConocoPhillips | Common Stocks | 20825C104 | 32,214,184 | 324,838 | SH | | SOLE | | 324,838 | 0 | 0 |
Copa Holdings, S.A. Class A | Common Stocks | P31076105 | 6,196,770 | 70,514 | SH | | SOLE | | 70,514 | 0 | 0 |
Corning Inc | Common Stocks | 219350105 | 21,982,800 | 462,601 | SH | | SOLE | | 462,601 | 0 | 0 |
Corteva Inc | Common Stocks | 22052L104 | 5,278,312 | 92,667 | SH | | SOLE | | 92,667 | 0 | 0 |
Costco Wholesale Corporation | Common Stocks | 22160K105 | 74,281,093 | 81,069 | SH | | SOLE | | 81,069 | 0 | 0 |
Coupang Inc | Common Stocks | 22266T109 | 20,358,667 | 926,236 | SH | | SOLE | | 926,236 | 0 | 0 |
Credicorp Ltd. | Common Stocks | G2519Y108 | 15,536,187 | 84,749 | SH | | SOLE | | 84,749 | 0 | 0 |
Cresud SA Sponsored ADR | Common Stocks | 226406106 | 8,379,121 | 663,430 | SH | | SOLE | | 663,430 | 0 | 0 |
CRH Plc | Common Stocks | G25508105 | 7,793,330 | 84,234 | SH | | SOLE | | 84,234 | 0 | 0 |
Cushman & Wakefield Plc | Common Stocks | G2717B108 | 3,275,677 | 250,434 | SH | | SOLE | | 250,434 | 0 | 0 |
Delta Air Lines, Inc. | Common Stocks | 247361702 | 21,649,139 | 357,837 | SH | | SOLE | | 357,837 | 0 | 0 |
DHT Holdings, Inc. | Common Stocks | Y2065G121 | 34,312,457 | 3,693,483 | SH | | SOLE | | 3,693,483 | 0 | 0 |
Diana Shipping Inc Warrant | Warrants | Y2066G138 | 47,229 | 425,104 | SH | | SOLE | | 425,104 | 0 | 0 |
Diana Shipping Inc. | Common Stocks | Y2066G104 | 3,977,542 | 2,029,358 | SH | | SOLE | | 2,029,358 | 0 | 0 |
D-MARKET Elektronik Hizmetler ve Ticaret AS Sponso | Common Stocks | 23292B104 | 11,888,775 | 3,923,688 | SH | | SOLE | | 3,923,688 | 0 | 0 |
Elevance Health, Inc. | Common Stocks | 036752103 | 28,861,629 | 78,237 | SH | | SOLE | | 78,237 | 0 | 0 |
EPAM Systems, Inc. | Common Stocks | 29414B104 | 4,920,274 | 21,043 | SH | | SOLE | | 21,043 | 0 | 0 |
Exxon Mobil Corporation | Common Stocks | 30231G102 | 5,456,919 | 50,729 | SH | | SOLE | | 50,729 | 0 | 0 |
Ferroglobe PLC | Common Stocks | G33856108 | 34,216,332 | 9,004,298 | SH | | SOLE | | 9,004,298 | 0 | 0 |
FirstCash Holdings, Inc. | Common Stocks | 33768G107 | 6,102,869 | 58,908 | SH | | SOLE | | 58,908 | 0 | 0 |
Freeport-McMoRan, Inc. | Common Stocks | 35671D857 | 49,489,948 | 1,299,631 | SH | | SOLE | | 1,299,631 | 0 | 0 |
Golar LNG Limited | Common Stocks | G9456A100 | 18,247,368 | 431,176 | SH | | SOLE | | 431,176 | 0 | 0 |
Golden Ocean Group Ltd | Common Stocks | G39637205 | 10,241,719 | 1,143,049 | SH | | SOLE | | 1,143,049 | 0 | 0 |
Himalaya Shipping Ltd | Common Stocks | G4660A103 | 2,189,795 | 450,575 | SH | | SOLE | | 450,575 | 0 | 0 |
Interactive Brokers Group, Inc. Class A | Common Stocks | 45841N107 | 50,304,662 | 284,738 | SH | | SOLE | | 284,738 | 0 | 0 |
International Seaways, Inc. | Common Stocks | Y41053102 | 27,154,719 | 755,557 | SH | | SOLE | | 755,557 | 0 | 0 |
iShares MSCI India ETF | Common Stocks | 46429B598 | 2,355,166 | 44,741 | SH | | SOLE | | 44,741 | 0 | 0 |
Jefferies Financial Group Inc. | Common Stocks | 47233W109 | 54,340,373 | 693,117 | SH | | SOLE | | 693,117 | 0 | 0 |
JPMorgan Chase & Co. | Common Stocks | 46625H100 | 40,632,523 | 169,507 | SH | | SOLE | | 169,507 | 0 | 0 |
Kroger Co. | Common Stocks | 501044101 | 15,625,354 | 255,525 | SH | | SOLE | | 255,525 | 0 | 0 |
Lam Research Corporation | Common Stocks | 512807306 | 11,783,313 | 163,136 | SH | | SOLE | | 163,136 | 0 | 0 |
Lesaka Technologies, Inc. | Common Stocks | 64107N206 | 15,303,589 | 2,807,998 | SH | | SOLE | | 2,807,998 | 0 | 0 |
Liberty Broadband Corp. Class C | Common Stocks | 530307305 | 757,020 | 10,126 | SH | | SOLE | | 10,126 | 0 | 0 |
Liberty Latin America Ltd. Class A | Common Stocks | G9001E102 | 460,464 | 72,400 | SH | | SOLE | | 72,400 | 0 | 0 |
Liberty Latin America Ltd. Class C | Common Stocks | G9001E128 | 616,438 | 97,230 | SH | | SOLE | | 97,230 | 0 | 0 |
Liberty Media Corp. Series A Liberty Formula One | Common Stocks | 531229771 | 398,350 | 4,740 | SH | | SOLE | | 4,740 | 0 | 0 |
Liberty Media Corp. Series A Liberty Live | Common Stocks | 531229748 | 382,587 | 5,748 | SH | | SOLE | | 5,748 | 0 | 0 |
Liberty Media Corp. Series C Liberty Formula One | Common Stocks | 531229755 | 8,638,136 | 93,224 | SH | | SOLE | | 93,224 | 0 | 0 |
Liberty Media Corp. Series C Liberty Live | Common Stocks | 531229722 | 561,155 | 8,245 | SH | | SOLE | | 8,245 | 0 | 0 |
Liberty Sirius Xm Holdings Inc | Common Stocks | 829933100 | 973,446 | 42,695 | SH | | SOLE | | 42,695 | 0 | 0 |
Loews Corporation | Common Stocks | 540424108 | 8,130,494 | 96,003 | SH | | SOLE | | 96,003 | 0 | 0 |
Loma Negra Cia Industrial Arge | Common Stocks | 54150E104 | 8,256,510 | 691,500 | SH | | SOLE | | 691,500 | 0 | 0 |
Louisiana-Pacific Corporation | Common Stocks | 546347105 | 28,057,390 | 270,955 | SH | | SOLE | | 270,955 | 0 | 0 |
LyondellBasell Industries NV | Common Stocks | N53745100 | 30,081,430 | 405,028 | SH | | SOLE | | 405,028 | 0 | 0 |
Marathon Petroleum Corporation | Common Stocks | 56585A102 | 31,877,285 | 228,511 | SH | | SOLE | | 228,511 | 0 | 0 |
Masco Corporation | Common Stocks | 574599106 | 10,613,943 | 146,258 | SH | | SOLE | | 146,258 | 0 | 0 |
MBIA Inc. | Common Stocks | 55262C100 | 10,312,079 | 1,596,297 | SH | | SOLE | | 1,596,297 | 0 | 0 |
MGM Resorts International | Common Stocks | 552953101 | 29,436,353 | 849,534 | SH | | SOLE | | 849,534 | 0 | 0 |
Microchip Technology Incorporated | Common Stocks | 595017104 | 4,545,504 | 79,259 | SH | | SOLE | | 79,259 | 0 | 0 |
Micron Technology, Inc. | Common Stocks | 595112103 | 60,436,558 | 718,115 | SH | | SOLE | | 718,115 | 0 | 0 |
Montauk Renewables, Inc. | Common Stocks | 61218C103 | 3,061,066 | 769,112 | SH | | SOLE | | 769,112 | 0 | 0 |
Morgan Stanley | Common Stocks | 617446448 | 28,136,010 | 223,799 | SH | | SOLE | | 223,799 | 0 | 0 |
Noble Corporation PLC Class A | Common Stocks | G65431127 | 31,071,085 | 989,525 | SH | | SOLE | | 989,525 | 0 | 0 |
NVIDIA Corporation | Common Stocks | 67066G104 | 17,671,624 | 131,593 | SH | | SOLE | | 131,593 | 0 | 0 |
Occidental Petroleum Corporation | Common Stocks | 674599105 | 38,359,355 | 776,348 | SH | | SOLE | | 776,348 | 0 | 0 |
PayPal Holdings, Inc. | Common Stocks | 70450Y103 | 17,922,817 | 209,992 | SH | | SOLE | | 209,992 | 0 | 0 |
Peabody Energy Corporation | Common Stocks | 704551100 | 17,927,551 | 856,139 | SH | | SOLE | | 856,139 | 0 | 0 |
Permian Basin Royalty Trust | Common Stocks | 714236106 | 3,407,665 | 307,551 | SH | | SOLE | | 307,551 | 0 | 0 |
Philip Morris International Inc. | Common Stocks | 718172109 | 12,338,763 | 102,524 | SH | | SOLE | | 102,524 | 0 | 0 |
PNC Financial Services Group, Inc. | Common Stocks | 693475105 | 16,417,128 | 85,129 | SH | | SOLE | | 85,129 | 0 | 0 |
QUALCOMM Incorporated | Common Stocks | 747525103 | 10,975,688 | 71,447 | SH | | SOLE | | 71,447 | 0 | 0 |
RLX Technology, Inc. Sponsored ADR Class A | Common Stocks | 74969N103 | 2,120,111 | 981,533 | SH | | SOLE | | 981,533 | 0 | 0 |
Ryanair Holdings Plc Sponsored ADR | Common Stocks | 783513203 | 31,185,114 | 715,419 | SH | | SOLE | | 715,419 | 0 | 0 |
Scorpio Tankers Inc. | Common Stocks | Y7542C130 | 9,950,273 | 200,247 | SH | | SOLE | | 200,247 | 0 | 0 |
Seadrill Ltd | Common Stocks | G7997W102 | 20,392,157 | 523,816 | SH | | SOLE | | 523,816 | 0 | 0 |
Seagate Technology Holdings PLC | Common Stocks | G7997R103 | 9,883,185 | 114,508 | SH | | SOLE | | 114,508 | 0 | 0 |
SL Green Realty Corp. | Common Stocks | 78440X887 | 17,190,688 | 253,102 | SH | | SOLE | | 253,102 | 0 | 0 |
Steel Dynamics, Inc. | Common Stocks | 858119100 | 19,009,195 | 166,645 | SH | | SOLE | | 166,645 | 0 | 0 |
Synchrony Financial | Common Stocks | 87165B103 | 51,650,495 | 794,623 | SH | | SOLE | | 794,623 | 0 | 0 |
Taiwan Semiconductor Manufacturing Co., Ltd. Spons | Common Stocks | 874039100 | 49,974,647 | 253,049 | SH | | SOLE | | 253,049 | 0 | 0 |
Texas Pacific Land Corporation | Common Stocks | 88262P102 | 12,208,692 | 11,039 | SH | | SOLE | | 11,039 | 0 | 0 |
Thor Industries, Inc. | Common Stocks | 885160101 | 6,315,424 | 65,985 | SH | | SOLE | | 65,985 | 0 | 0 |
Tidewater Inc | Common Stocks | 88642R109 | 11,913,814 | 217,763 | SH | | SOLE | | 217,763 | 0 | 0 |
TopBuild Corp. | Common Stocks | 89055F103 | 11,343,050 | 36,433 | SH | | SOLE | | 36,433 | 0 | 0 |
Transocean Ltd. | Common Stocks | H8817H100 | 6,398,036 | 1,706,143 | SH | | SOLE | | 1,706,143 | 0 | 0 |
Trupanion Inc | Common Stocks | 898202106 | 10,253,104 | 212,720 | SH | | SOLE | | 212,720 | 0 | 0 |
Union Pacific Corporation | Common Stocks | 907818108 | 16,436,211 | 72,076 | SH | | SOLE | | 72,076 | 0 | 0 |
Valaris Ltd. | Common Stocks | G9460G101 | 15,123,090 | 341,842 | SH | | SOLE | | 341,842 | 0 | 0 |
Veeco Instruments Inc. | Common Stocks | 922417100 | 2,159,330 | 80,572 | SH | | SOLE | | 80,572 | 0 | 0 |
VICI Properties Inc | Common Stocks | 925652109 | 4,561,755 | 156,171 | SH | | SOLE | | 156,171 | 0 | 0 |
Vipshop Holdings Ltd Sponsored ADR | Common Stocks | 92763W103 | 8,070,025 | 599,111 | SH | | SOLE | | 599,111 | 0 | 0 |
Visa Inc. Class A | Common Stocks | 92826C839 | 10,284,890 | 32,543 | SH | | SOLE | | 32,543 | 0 | 0 |
Vitesse Energy, Inc. | Common Stocks | 92852X103 | 894,475 | 35,779 | SH | | SOLE | | 35,779 | 0 | 0 |
Walt Disney Company | Common Stocks | 254687106 | 12,044,507 | 108,168 | SH | | SOLE | | 108,168 | 0 | 0 |
Warrior Met Coal, Inc. | Common Stocks | 93627C101 | 28,466,942 | 524,833 | SH | | SOLE | | 524,833 | 0 | 0 |
Wells Fargo & Company | Common Stocks | 949746101 | 54,852,804 | 780,934 | SH | | SOLE | | 780,934 | 0 | 0 |
Weyerhaeuser Company | Common Stocks | 962166104 | 1,378,168 | 48,958 | SH | | SOLE | | 48,958 | 0 | 0 |
Willis Towers Watson Public Limited Company | Common Stocks | G96629103 | 10,277,091 | 32,809 | SH | | SOLE | | 32,809 | 0 | 0 |