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
ALASKA AIR GROUP INC COM 011659109 23,282 305,264 SH   SOLE   261,640 0 0
ALBEMARLE CORP COM 012653101 36,210 265,642 SH   SOLE   227,982 0 0
ALCOA CORP COM 013872106 59,637 1,279,223 SH   SOLE   1,097,885 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 14,174 593,069 SH   SOLE   509,001 0 0
ALTRA INDL MOTION CORP COM 02208R106 17,632 366,574 SH   SOLE   314,608 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 31,174 656,433 SH   SOLE   564,124 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 28,555 1,624,300 SH Call SOLE   1,389,500 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 42,035 2,391,042 SH   SOLE   2,049,478 0 0
ANDEAVOR COM 03349M105 43,322 419,994 SH   SOLE   360,595 0 0
APPLIED INDL TECHNOLOGIES IN COM 03820C105 18,219 276,880 SH   SOLE   237,630 0 0
ARCH COAL INC CL A 039380407 14,392 200,610 SH   SOLE   171,623 0 0
AZUL S A SPONSR ADR PFD 05501U106 7,216 262,877 SH   SOLE   225,612 0 0
BERRY GLOBAL GROUP INC COM 08579W103 50,137 885,036 SH   SOLE   758,650 0 0
CABOT OIL & GAS CORP COM 127097103 59,926 2,240,215 SH   SOLE   1,918,871 0 0
CARLISLE COS INC COM 142339100 2,392 23,853 SH   SOLE   20,471 0 0
CATERPILLAR INC DEL COM 149123101 26,969 216,257 SH   SOLE   185,601 0 0
CELANESE CORP DEL COM SER A 150870103 8,961 85,943 SH   SOLE   73,759 0 0
CF INDS HLDGS INC COM 125269100 25,007 711,223 SH   SOLE   610,404 0 0
CHENIERE ENERGY INC COM NEW 16411R208 73,213 1,625,502 SH   SOLE   1,392,122 0 0
CSX CORP COM 126408103 5,700 105,056 SH   SOLE   90,164 0 0
DANA INCORPORATED COM 235825205 74,552 2,666,372 SH   SOLE   2,284,358 0 0
DEERE & CO COM 244199105 48,806 388,613 SH   SOLE   333,526 0 0
DELEK LOGISTICS PARTNERS LP COM UNT RP INT 24664T103 2,333 74,656 SH   SOLE   74,656 0 0
DELEK US HLDGS INC NEW COM 24665A103 9,974 373,140 SH   SOLE   319,222 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 55,435 563,362 SH   SOLE   483,979 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 68,141 1,413,132 SH   SOLE   1,214,092 0 0
DIAMONDBACK ENERGY INC COM 25278X109 12,544 128,048 SH   SOLE   109,897 0 0
DOWDUPONT INC COM 26078J100 50,079 723,375 SH   SOLE   620,833 0 0
ELDORADO GOLD CORP NEW COM 284902103 15,204 6,910,852 SH   SOLE   5,941,972 0 0
EOG RES INC COM 26875P101 42,068 434,856 SH   SOLE   373,210 0 0
EQT CORP COM 26884L109 46,878 718,550 SH   SOLE   615,448 0 0
FULLER H B CO COM 359694106 6,007 103,469 SH   SOLE   88,801 0 0
GENERAL DYNAMICS CORP COM 369550108 16,176 78,685 SH   SOLE   67,531 0 0
GENERAL MTRS CO COM 37045V100 75,925 1,880,259 SH   SOLE   1,612,179 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 54,564 12,659,944 SH   SOLE   11,020,618 0 0
GOLDCORP INC NEW COM 380956409 3,589 276,942 SH   SOLE   237,684 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 22,298 670,630 SH   SOLE   574,692 0 0
HALCON RES CORP COM PAR NEW 40537Q605 27,585 4,056,601 SH   SOLE   3,489,008 0 0
HALLIBURTON CO COM 406216101 27,066 588,015 SH   SOLE   504,660 0 0
HUB GROUP INC CL A 443320106 6,132 142,774 SH   SOLE   122,534 0 0
JAGGED PEAK ENERGY INC COM 47009K107 707 51,734 SH   SOLE   44,400 0 0
KNIGHT SWIFT TRANSN HLDGS IN CL A 499049104 60,998 1,468,056 SH   SOLE   1,259,949 0 0
LEAR CORP COM NEW 521865204 83,406 481,895 SH   SOLE   413,893 0 0
LEIDOS HLDGS INC COM 525327102 20,552 347,040 SH   SOLE   297,847 0 0
MASCO CORP COM 574599106 41,932 1,074,912 SH   SOLE   922,539 0 0
MERITOR INC COM 59001K100 12,930 497,103 SH   SOLE   427,017 0 0
NEXTERA ENERGY PARTNERS LP COM UNIT PART IN 65341B106 13,359 331,566 SH   SOLE   331,566 0 0
NOBLE ENERGY INC COM 655044105 85,273 3,006,819 SH   SOLE   2,582,877 0 0
NOBLE MIDSTREAM PARTNERS LP COM UNIT REPST 65506L105 5,448 105,038 SH   SOLE   105,038 0 0
NORFOLK SOUTHERN CORP COM 655844108 19,240 145,490 SH   SOLE   124,868 0 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 48,552 898,280 SH   SOLE   771,387 0 0
OLD DOMINION FGHT LINES INC COM 679580100 11,574 105,116 SH   SOLE   90,216 0 0
OSHKOSH CORP COM 688239201 51,880 628,548 SH   SOLE   540,010 0 0
PACCAR INC COM 693718108 28,529 394,370 SH   SOLE   338,464 0 0
PARKER HANNIFIN CORP COM 701094104 35,488 202,765 SH   SOLE   174,022 0 0
PARSLEY ENERGY INC CL A 701877102 19,727 748,927 SH   SOLE   644,434 0 0
PRETIUM RES INC COM 74139C102 39,748 4,292,467 SH   SOLE   3,718,991 0 0
QUANTA SVCS INC COM 74762E102 15,777 422,195 SH   SOLE   362,345 0 0
RAMACO RES INC COM 75134P303 5,618 847,330 SH   SOLE   725,626 0 0
RAYTHEON CO COM NEW 755111507 19,641 105,268 SH   SOLE   90,346 0 0
RIO TINTO PLC SPONSORED ADR 767204100 10,642 225,518 SH   SOLE   193,548 0 0
ROCKWELL AUTOMATION INC COM 773903109 29,161 163,631 SH   SOLE   140,437 0 0
ROCKWELL COLLINS INC COM 774341101 12,339 94,400 SH   SOLE   81,019 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 34,263 289,043 SH   SOLE   248,277 0 0
RSP PERMIAN INC COM 74978Q105 13,494 390,123 SH   SOLE   334,819 0 0
SEALED AIR CORP NEW COM 81211K100 44,598 1,043,952 SH   SOLE   895,650 0 0
SKYWEST INC COM 830879102 6,626 150,942 SH   SOLE   129,544 0 0
SOUTHWEST AIRLS CO COM 844741108 23,411 418,203 SH   SOLE   359,765 0 0
STEEL DYNAMICS INC COM 858119100 5,731 166,247 SH   SOLE   143,200 0 0
TIMKEN CO COM 887389104 20,664 425,625 SH   SOLE   365,293 0 0
TURQUOISE HILL RES LTD COM 900435108 67,732 21,849,113 SH   SOLE   18,861,933 0 0
TUTOR PERINI CORP COM 901109108 6,859 241,502 SH   SOLE   207,268 0 0
TYSON FOODS INC CL A 902494103 108,596 1,541,468 SH   SOLE   1,323,097 0 0
UNITED RENTALS INC COM 911363109 34,619 249,522 SH   SOLE   214,660 0 0
UNITED STATES STL CORP NEW COM 912909108 6,610 257,600 SH   SOLE   221,084 0 0
UNITED TECHNOLOGIES CORP COM 913017109 12,578 108,359 SH   SOLE   92,999 0 0
VALE S A ADR 91912E105 13,952 1,385,478 SH   SOLE   1,189,079 0 0
VALMONT INDS INC COM 920253101 9,197 58,172 SH   SOLE   49,925 0 0
WARRIOR MET COAL INC COM 93627C101 19,945 846,197 SH   SOLE   725,630 0 0
WESCO INTL INC COM 95082P105 2,433 41,762 SH   SOLE   35,843 0 0
WESTLAKE CHEM CORP COM 960413102 57,056 686,682 SH   SOLE   590,314 0 0
WESTROCK CO COM 96145D105 21,106 372,043 SH   SOLE   319,304 0 0
WHIRLPOOL CORP COM 963320106 11,363 61,607 SH   SOLE   53,054 0 0