The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
EURONAV NV ANTWERPEN SHS B38564108 11,277 1,627,250 SH   SOLE   1,144,236 0 483,014
ALLERGAN PLC SHS G0177J108 2,753 20,600 SH   SOLE   13,300 0 7,300
ARRIS INTL INC SHS G0551A103 23,226 759,752 SH   SOLE   303,479 0 456,273
BRIGHTSPHERE INVESTMNT GRP P SHS G1644T109 4,991 467,355 SH   SOLE   105,770 0 361,585
ENSCO PLC SHS CLASS A G3157S106 4,880 1,370,881 SH   SOLE   904,100 0 466,781
GOLAR LNG LTD BERMUDA SHS G9456A100 13,438 617,569 SH   SOLE   231,720 0 385,849
TE CONNECTIVITY LTD REG SHS H84989104 3,668 48,495 SH   SOLE   35,395 0 13,100
NXP SEMICONDUCTORS N V COM N6596X109 22,210 303,081 SH   SOLE   202,881 0 100,200
GOLAR LNG PARTNERS LP COM UNIT LPI Y2745C102 23,339 2,161,007 SH   SOLE   1,668,289 0 492,718
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 8,417 548,318 SH   SOLE   148,746 0 399,572
TEEKAY TANKERS LTD CL A Y8565N102 11,914 12,838,805 SH   SOLE   6,815,661 0 6,023,144
AT&T INC COM 00206R102 3,526 123,537 SH   SOLE   72,135 0 51,402
ABBVIE INC COM 00287Y109 2,788 30,237 SH   SOLE   6,700 0 23,537
ALLY FINL INC COM 02005N100 163 7,200 SH   SOLE   7,200 0 0
AMERICAN ELEC PWR INC COM 025537101 531 7,100 SH   SOLE   300 0 6,800
AMERICAN INTL GROUP INC COM NEW 026874784 2,511 63,725 SH   SOLE   40,400 0 23,325
ARCONIC INC COM 03965L100 7,886 467,751 SH   SOLE   291,099 0 176,652
ASTRAZENECA PLC SPONSORED ADR 046353108 2,047 53,900 SH   SOLE   12,300 0 41,600
ATLANTIC CAP BANCSHARES INC COM 048269203 5,226 319,250 SH   SOLE   74,611 0 244,639
BP PLC SPONSORED ADR 055622104 15,513 409,107 SH   SOLE   355,307 0 53,800
BANK AMER CORP COM 060505104 23,644 959,564 SH   SOLE   629,700 0 329,864
BLACK HILLS CORP COM 092113109 7,343 116,969 SH   SOLE   28,469 0 88,500
BRIGHTHOUSE FINL INC COM 10922N103 10,965 359,746 SH   SOLE   231,241 0 128,505
C & F FINL CORP COM 12466Q104 850 15,979 SH   SOLE   4,900 0 11,079
CNO FINL GROUP INC COM 12621E103 26,897 1,807,607 SH   SOLE   884,732 0 922,875
CSI COMPRESSCO LP COM UNIT 12637A103 854 367,926 SH   SOLE   367,926 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 1,681 114,104 SH   SOLE   35,898 0 78,206
CARPENTER TECHNOLOGY CORP COM 144285103 10,747 301,809 SH   SOLE   157,020 0 144,789
CATCHMARK TIMBER TR INC CL A 14912Y202 3,392 477,692 SH   SOLE   182,848 0 294,844
CHESAPEAKE ENERGY CORP COM 165167107 17,619 8,389,859 SH   SOLE   5,465,115 0 2,924,744
CITIGROUP INC COM NEW 172967424 26,443 507,935 SH   SOLE   338,280 0 169,655
COCA COLA CO COM 191216100 398 8,400 SH   SOLE   4,700 0 3,700
COMTECH TELECOMMUNICATIONS C COM NEW 205826209 43,959 1,806,040 SH   SOLE   680,150 0 1,125,890
CONAGRA BRANDS INC COM 205887102 4,956 232,000 SH   SOLE   148,500 0 83,500
CONMED CORP COM 207410101 6,978 108,696 SH   SOLE   33,510 0 75,186
CONOCOPHILLIPS COM 20825C104 2,170 34,800 SH   SOLE   28,400 0 6,400
DXC TECHNOLOGY CO COM 23355L106 134 2,512 SH   SOLE   171 0 2,341
DEVON ENERGY CORP NEW COM 25179M103 575 25,500 SH   SOLE   25,500 0 0
ENGILITY HLDGS INC NEW COM 29286C107 4,136 145,330 SH   SOLE   96,430 0 48,900
ENOVA INTL INC COM 29357K103 16,119 828,322 SH   SOLE   226,462 0 601,860
ENTERGY CORP NEW COM 29364G103 17,036 197,928 SH   SOLE   149,528 0 48,400
EVERGY INC COM 30034W106 2,705 47,641 SH   SOLE   47,641 0 0
EXELON CORP COM 30161N101 28,486 631,612 SH   SOLE   453,812 0 177,800
EZCORP INC CL A NON VTG 302301106 9,656 1,249,139 SH   SOLE   355,626 0 893,513
FEDEX CORP COM 31428X106 17,520 108,599 SH   SOLE   73,299 0 35,300
FIRST BANCORP N C COM 318910106 4,929 150,918 SH   SOLE   32,769 0 118,149
FIRST CTZNS BANCSHARES INC N CL A 31946M103 22,527 59,745 SH   SOLE   16,464 0 43,281
FIRST HORIZON NATL CORP COM 320517105 21,460 1,630,717 SH   SOLE   442,423 0 1,188,294
FIRSTENERGY CORP COM 337932107 1,138 30,318 SH   SOLE   30,318 0 0
FLUOR CORP NEW COM 343412102 2,052 63,725 SH   SOLE   39,333 0 24,392
FLOWSERVE CORP COM 34354P105 350 9,200 SH   SOLE   0 0 9,200
FVCBANKCORP INC COM 36120Q101 196 11,131 SH   SOLE   1,500 0 9,631
GOLDMAN SACHS GROUP INC COM 38141G104 3,709 22,200 SH   SOLE   13,900 0 8,300
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 8,761 1,275,302 SH   SOLE   375,095 0 900,207
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 17,276 449,905 SH   SOLE   129,099 0 320,806
HP INC COM 40434L105 3,648 178,300 SH   SOLE   123,600 0 54,700
HANGER INC COM NEW 41043F208 8,403 443,421 SH   SOLE   160,110 0 283,311
HARSCO CORP COM 415864107 1,056 53,178 SH   SOLE   38,267 0 14,911
HEWLETT PACKARD ENTERPRISE C COM 42824C109 5,123 387,800 SH   SOLE   259,800 0 128,000
HIGHPOINT RES CORP COM 43114K108 15,261 6,128,858 SH   SOLE   3,213,779 0 2,915,079
HOME DEPOT INC COM 437076102 12,732 74,100 SH   SOLE   51,700 0 22,400
INNOSPEC INC COM 45768S105 24,306 393,553 SH   SOLE   167,797 0 225,756
JPMORGAN CHASE & CO COM 46625H100 26,327 269,690 SH   SOLE   184,800 0 84,890
KBR INC COM 48242W106 75,306 4,960,837 SH   SOLE   2,937,225 0 2,023,612
KAISER ALUMINUM CORP COM PAR $0.01 483007704 11,654 130,522 SH   SOLE   50,005 0 80,517
LAMB WESTON HLDGS INC COM 513272104 1,042 14,162 SH   SOLE   7,566 0 6,596
LENNAR CORP CL B 526057302 7,909 252,430 SH   SOLE   175,972 0 76,458
LILLY ELI & CO COM 532457108 28,528 246,522 SH   SOLE   168,000 0 78,522
LYON WILLIAM HOMES CL A NEW 552074700 4,844 453,152 SH   SOLE   85,077 0 368,075
MASTERCARD INCORPORATED CL A 57636Q104 9,951 52,750 SH   SOLE   32,250 0 20,500
MERCK & CO INC COM 58933Y105 25,552 334,400 SH   SOLE   235,800 0 98,600
MICROSOFT CORP COM 594918104 38,827 382,273 SH   SOLE   256,800 0 125,473
MILLER INDS INC TENN COM NEW 600551204 4,440 164,455 SH   SOLE   45,796 0 118,659
NATIONAL FUEL GAS CO N J COM 636180101 952 18,600 SH   SOLE   18,600 0 0
NELNET INC CL A 64031N108 4,672 89,259 SH   SOLE   25,413 0 63,846
NEXTERA ENERGY INC COM 65339F101 2,173 12,500 SH   SOLE   9,500 0 3,000
NORTHROP GRUMMAN CORP COM 666807102 20,094 82,048 SH   SOLE   59,800 0 22,248
OCEANEERING INTL INC COM 675232102 236 19,500 SH   SOLE   19,500 0 0
ORACLE CORP COM 68389X105 15,089 334,200 SH   SOLE   212,000 0 122,200
PPL CORP COM 69351T106 1,431 50,500 SH   SOLE   50,500 0 0
PERSPECTA INC COM 715347100 1 85 SH   SOLE   85 0 0
PFIZER INC COM 717081103 14,448 331,000 SH   SOLE   244,800 0 86,200
PHILIP MORRIS INTL INC COM 718172109 10,061 150,700 SH   SOLE   57,700 0 93,000
PORTLAND GEN ELEC CO COM NEW 736508847 10,817 235,914 SH   SOLE   77,814 0 158,100
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,103 21,200 SH   SOLE   21,200 0 0
QURATE RETAIL INC COM SER A 74915M100 17,085 875,232 SH   SOLE   619,732 0 255,500
REGIONS FINL CORP NEW COM 7591EP100 6,345 474,200 SH   SOLE   325,500 0 148,700
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 19,090 327,608 SH   SOLE   280,462 0 47,146
SCIENCE APPLICATNS INTL CP N COM 808625107 12,303 193,143 SH   SOLE   64,606 0 128,537
SEACOR HOLDINGS INC COM 811904101 352 9,517 SH   SOLE   9,517 0 0
SEMPRA ENERGY COM 816851109 995 9,200 SH   SOLE   9,200 0 0
SOUTH ST CORP COM 840441109 6,050 100,920 SH   SOLE   8,620 0 92,300
SUNTRUST BKS INC COM 867914103 14,698 291,400 SH   SOLE   206,200 0 85,200
SUPERIOR ENERGY SVCS INC COM 868157108 2,280 680,450 SH   SOLE   248,548 0 431,902
TENET HEALTHCARE CORP COM NEW 88033G407 4,586 267,547 SH   SOLE   79,000 0 188,547
TETRA TECHNOLOGIES INC DEL COM 88162F105 1,870 1,113,193 SH   SOLE   355,600 0 757,593
TUPPERWARE BRANDS CORP COM 899896104 28,531 903,728 SH   SOLE   467,400 0 436,328
TYSON FOODS INC CL A 902494103 8,936 167,335 SH   SOLE   125,035 0 42,300
UFP TECHNOLOGIES INC COM 902673102 2,325 77,385 SH   SOLE   19,492 0 57,893
VERIZON COMMUNICATIONS INC COM 92343V104 382 6,800 SH   SOLE   0 0 6,800
VIRTUS INVT PARTNERS INC COM 92828Q109 18,845 237,249 SH   SOLE   67,439 0 169,810
VOYA FINL INC COM 929089100 5,599 139,499 SH   SOLE   105,999 0 33,500
WALMART INC COM 931142103 19,161 205,700 SH   SOLE   137,200 0 68,500
WESCO AIRCRAFT HLDGS INC COM 950814103 3,579 453,060 SH   SOLE   174,428 0 278,632