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
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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
Alcoa Corp.COM0138721063,333540,993SH  SOLE0462,215078,778
American Airlines Group, Inc.COM02376R10245,8473,761,030SH  SOLE03,210,4150550,615
Advance Auto Parts, Inc.COM00751Y1063,10433,258SH  SOLE028,26704,991
Adient plcCOMG0084W1015,079559,993SH  SOLE0477,663082,330
Alliance Data Systems CorporationCOM0185811081,34539,971SH  SOLE034,13005,841
American International Group, Inc.COM02687478431,8451,313,208SH  SOLE01,120,8570192,351
American International Group, Inc. Warrants 2011-1CONV BONDS0268741562,8193,524,198PRN SOLE03,004,5230519,675
America Movil SAB de CV Sponsored ADR Class LCOM02364W1053,761319,297SH  SOLE0272,488046,809
Amazon.com, Inc.COM023135106228,544117,219SH  SOLE0100,028017,191
Anthem, Inc.COM03675210322,64499,736SH  SOLE084,966014,770
Apache CorporationCOM0374111052,200526,388SH  SOLE0449,174077,214
Altice USA, Inc. Class ACOM02156K10315,094677,172SH  SOLE0578,047099,125
Activision Blizzard, Inc.COM00507V10922,511378,471SH  SOLE0322,719055,752
Broadcom Inc.COM11135F1018,24034,752SH  SOLE029,63905,113
American Express CompanyCOM02581610957,503671,690SH  SOLE0573,180098,510
Alibaba Group Holding Ltd. Sponsored ADRCOM01609W10235,186180,923SH  SOLE0154,369026,554
Bank of America CorpCOM060505104148,0116,971,792SH  SOLE05,947,07201,024,720
Baidu, Inc. Sponsored ADR Class ACOM0567521087,64175,812SH  SOLE064,584011,228
Bio-Rad Laboratories, Inc. Class ACOM09057220730,92888,224SH  SOLE075,055013,169
Booking Holdings Inc.COM09857L10864,78148,153SH  SOLE041,10407,049
TopBuild Corp.COM89055F1032,92140,771SH  SOLE034,83805,933
Bristol-Myers Squibb CompanyCOM11012210810,098181,171SH  SOLE0154,544026,627
Berkshire Hathaway Inc. Class BCOM08467070262,657342,704SH  SOLE0292,229050,475
Peabody Energy CorporationCOM7045511006,0682,092,581SH  SOLE01,785,8290306,752
Citigroup Inc.COM17296742483,2731,977,052SH  SOLE01,684,4630292,589
Avis Budget Group, Inc.COM0537741052,344168,657SH  SOLE0143,990024,667
CBRE Group, Inc. Class ACOM12504L10971,5851,898,302SH  SOLE01,620,9740277,328
Citizens Financial Group, Inc.COM17461010514,795786,543SH  SOLE0671,1240115,419
Change Healthcare, Inc.COM15912K10077277,294SH  SOLE065,818011,476
Charter Communications, Inc. Class ACOM16119P10811,47726,304SH  SOLE022,48303,821
CoreLogic, Inc.COM21871D10310,951358,568SH  SOLE0305,618052,950
CME Group Inc. Class ACOM12572Q1051,6659,627SH  SOLE08,34101,286
Capital One Financial CorporationCOM14040H10523,882473,662SH  SOLE0403,861069,801
ConocoPhillipsCOM20825C1042,71688,188SH  SOLE075,161013,027
Costco Wholesale CorporationCOM22160K105132,390464,314SH  SOLE0395,868068,446
Coty Inc. Class ACOM222070203877169,996SH  SOLE0145,805024,191
Copa Holdings, S.A. Class ACOMP310761052,79561,711SH  SOLE052,69509,016
CenturyLink, Inc.COM1567001067,776821,974SH  SOLE0700,9180121,056
Cognizant Technology Solutions Corporation Class ACOM1924461023,64778,483SH  SOLE066,927011,556
Corteva IncCOM22052L1042,17892,676SH  SOLE079,014013,662
Cemex SAB de CV Sponsored ADRCOM15129088915,9357,516,609SH  SOLE06,409,00301,107,606
Delta Air Lines, Inc.COM24736170247,3111,658,274SH  SOLE01,414,7200243,554
DuPont de Nemours, Inc.COM26614N1023,16192,693SH  SOLE079,031013,662
DHT Holdings, Inc.COMY2065G12128,6623,736,933SH  SOLE03,192,4020544,531
Walt Disney CompanyCOM25468710632,712338,631SH  SOLE0289,046049,585
Discovery, Inc. Class ACOM25470F1045,393277,423SH  SOLE0236,927040,496
NOW Inc.COM67011P1002,295444,774SH  SOLE0379,925064,849
Dow, Inc.COM2605571032,72593,211SH  SOLE079,549013,662
Diana Shipping Inc.COMY2066G1047,8785,323,267SH  SOLE04,545,5190777,748
DXC Technology Co.COM23355L1066,174473,071SH  SOLE0404,292068,779
eBay Inc.COM2786421038,970298,403SH  SOLE0254,749043,654
EPAM Systems, Inc.COM29414B10426,832144,524SH  SOLE0123,313021,211
Eldorado Resorts IncCOM28470R1022,316160,861SH  SOLE0137,240023,621
Expedia Group, Inc.COM30212P3032053,648SH  SOLE03,1240524
Ford Motor CompanyCOM3453708608,5761,775,481SH  SOLE01,513,7030261,778
Facebook, Inc. Class ACOM30303M10214,14084,772SH  SOLE072,395012,377
FirstCash, Inc.COM33767D10512,363172,324SH  SOLE0146,973025,351
Freeport-McMoRan, Inc.COM35671D8578,8971,318,134SH  SOLE01,123,3920194,742
Fluor CorporationCOM34341210238054,924SH  SOLE047,05707,867
Federal National Mortgage AssociationCOM313586109768483,084SH  SOLE0414,452068,632
Liberty Media Corporation Series A Liberty FormulaCOM5312298701,06841,381SH  SOLE035,19006,191
Liberty Media Corporation Series C Liberty FormulaCOM5312298541,43452,668SH  SOLE045,26307,405
Graco Inc.COM38410910412,681260,234SH  SOLE0221,997038,237
GCI Liberty, Inc. Class ACOM36164V3053,47260,938SH  SOLE052,04508,893
Golar LNG LimitedCOMG9456A1002,263287,221SH  SOLE0244,390042,831
Corning IncCOM2193501053,369164,010SH  SOLE0139,532024,478
Alphabet Inc. Class CCOM02079K107114,03698,069SH  SOLE083,560014,509
Alphabet Inc. Class ACOM02079K30511,92910,266SH  SOLE08,68401,582
Garmin Ltd.COMH2906T10916,409218,910SH  SOLE0187,033031,877
Ferroglobe PLCCOMG338561089212,024,828SH  SOLE01,729,8960294,932
Huntington Bancshares IncorporatedCOM4461501042,555311,264SH  SOLE0265,290045,974
Hanesbrands Inc.COM4103451026,887875,109SH  SOLE0746,6200128,489
Warrior Met Coal, Inc.COM93627C1015,535521,178SH  SOLE0444,724076,454
Hackett Group, Inc.COM40460910913,5281,063,529SH  SOLE0904,3430159,186
Hewlett Packard Enterprise Co.COM42824C1092,963305,179SH  SOLE0259,407045,772
HP Inc.COM40434L1055,266303,355SH  SOLE0259,961043,394
Hertz Global Holdings, Inc.COM42806J10653786,845SH  SOLE075,430011,415
iShares MSCI India ETFCOM46429B5986,930256,209SH  SOLE0256,20900
International Seaways, Inc.COMY410531028,539357,427SH  SOLE0304,846052,581
Intel CorporationCOM45814010015,499286,388SH  SOLE0244,595041,793
Gartner, Inc.COM36665110715,907159,754SH  SOLE0136,365023,389
JD.com, Inc. Sponsored ADR Class ACOM47215P10656,4291,393,298SH  SOLE01,185,6220207,676
Jefferies Financial Group Inc.COM47233W10912,140888,093SH  SOLE0757,6420130,451
JPMorgan Chase & Co.COM46625H10019,697218,780SH  SOLE0186,149032,631
KKR & Co. Inc. Class ACOM48251W10416,187689,708SH  SOLE0587,8540101,854
KLA CorporationCOM48248010017,423121,210SH  SOLE0103,416017,794
Kroger Co.COM50104410137,2761,237,579SH  SOLE01,055,4880182,091
Kansas City SouthernCOM48517030215,553122,294SH  SOLE0104,137018,157
KT Corporation Sponsored ADRCOM48268K10121227,229SH  SOLE027,22900
Loews CorporationCOM5404241085,896169,290SH  SOLE0144,683024,607
Lazard Ltd Class ACOMG5405010215,802670,734SH  SOLE0573,360097,374
Liberty Broadband Corp. Class ACOM5303071074924,596SH  SOLE03,9640632
Liberty Broadband Corp. Class CCOM5303073058,11373,273SH  SOLE062,533010,740
Liberty Global Plc Class ACOMG5480U10414,228861,767SH  SOLE0733,4270128,340
Liberty Global Plc Class CCOMG5480U12014,356913,840SH  SOLE0778,3470135,493
Lear CorporationCOM5218652044,11150,599SH  SOLE043,18207,417
Lions Gate Entertainment Corp Class BCOM53591950012822,983SH  SOLE019,80303,180
Liberty Latin America Ltd. Class ACOMG9001E1022,615248,547SH  SOLE0210,198038,349
Liberty Latin America Ltd. Class CCOMG9001E1283,515342,562SH  SOLE0290,286052,276
LivaNova PlcCOMG5509L10112,526276,821SH  SOLE0236,103040,718
Lowe s Companies, Inc.COM5486611074,94257,433SH  SOLE048,82708,606
Louisiana-Pacific CorporationCOM5463471054,057236,160SH  SOLE0200,865035,295
Lam Research CorporationCOM5128071084,46318,597SH  SOLE015,83902,758
Liberty Media Corp. Series A Liberty SiriusXMCOM5312294092,25071,013SH  SOLE060,411010,602
Liberty Media Corp. Series C Liberty SiriusXMCOM5312296074,451140,754SH  SOLE0120,010020,744
Liberty TripAdvisor Holdings Inc Class ACOM5314651022513,739SH  SOLE011,91301,826
LyondellBasell Industries NVCOMN537451003,69174,374SH  SOLE063,686010,688
Masco CorporationCOM5745991069,843284,735SH  SOLE0242,884041,851
MBIA Inc.COM55262C10017,2242,412,383SH  SOLE02,054,0740358,309
McKesson CorporationCOM58155Q1035,26838,944SH  SOLE033,16605,778
Micro Focus International plc Sponsored ADRCOM5948374031,707336,743SH  SOLE0287,584049,159
MGM Resorts InternationalCOM55295310120,9541,775,728SH  SOLE01,513,3650262,363
Mohawk Industries, Inc.COM6081901045,69574,692SH  SOLE063,871010,821
Markel CorporationCOM57053510418,66820,119SH  SOLE017,16702,952
Altria Group IncCOM02209S1039,729251,584SH  SOLE0186,387065,197
Marathon Petroleum CorporationCOM56585A1027,938336,065SH  SOLE0286,927049,138
Morgan StanleyCOM61744644811,481337,683SH  SOLE0287,732049,951
Microsoft CorporationCOM59491810447,438300,793SH  SOLE0256,284044,509
Micron Technology, Inc.COM59511210343,7121,039,268SH  SOLE0885,8860153,382
Ingevity CorporationCOM45688C10773320,822SH  SOLE017,71503,107
Noah Holdings Ltd. Sponsored ADR Class ACOM65487X1024,202162,474SH  SOLE0138,695023,779
NetEase, Inc. Sponsored ADRCOM64110W10232,887102,466SH  SOLE087,351015,115
NVIDIA CorporationCOM67066G10410,41039,492SH  SOLE033,70305,789
Petroleo Brasileiro SA Sponsored ADRCOM71654V4088,3131,511,450SH  SOLE01,289,4110222,039
Philip Morris International Inc.COM71817210914,568199,669SH  SOLE0148,046051,623
PNC Financial Services Group, Inc.COM69347510515,674163,744SH  SOLE0139,526024,218
Perspecta, Inc.COM7153471001,60888,146SH  SOLE074,974013,172
PayPal Holdings IncCOM70450Y10383,571872,900SH  SOLE0745,7070127,193
Qurate Retail, Inc. Class ACOM74915M1003,788620,495SH  SOLE0529,214091,281
Raytheon CompanyCOM7551115078,48464,691SH  SOLE055,08809,603
Ryanair Holdings Plc Sponsored ADRCOM78351320327,997527,350SH  SOLE0421,0170106,333
Scorpio Bulkers, Inc.COMY7546A1222,474977,982SH  SOLE0833,1240144,858
Spirit Airlines, Inc.COM8485771022,103163,188SH  SOLE0138,566024,622
Southern Copper CorporationCOM84265V1057,691273,123SH  SOLE0232,739040,384
Charles Schwab CorporationCOM80851310515,271454,227SH  SOLE0387,911066,316
Sherwin-Williams CompanyCOM82434810632,12169,902SH  SOLE059,623010,279
SL Green Realty Corp.COM78440X1018,281192,138SH  SOLE0163,985028,153
Scotts Miracle-Gro Company Class ACOM8101861069,91096,780SH  SOLE082,600014,180
Spectrum Brands Holdings, Inc.COM84790A10583322,917SH  SOLE019,64903,268
Spotify Technology SACOML8681T1022,95824,361SH  SOLE020,78803,573
Steel Dynamics, Inc.COM8581191002,932130,092SH  SOLE0110,891019,201
Scorpio Tankers Inc.COMY7542C13023,5411,231,237SH  SOLE01,051,0410180,196
Seagate Technology PLCCOMG7945M10717,539359,413SH  SOLE0306,500052,913
Synchrony FinancialCOM87165B10319,1801,192,070SH  SOLE01,014,8780177,192
Trip.com Group Ltd. Sponsored ADRCOM89677Q1072,614111,461SH  SOLE094,516016,945
Thor Industries, Inc.COM8851601013,10173,516SH  SOLE062,699010,817
Tencent Music Entertainment Group Sponsored ADR ClCOM88034P1093,982395,851SH  SOLE0337,809058,042
Tribune Publishing Co.COM89609W10732339,832SH  SOLE034,49205,340
Tractor Supply CompanyCOM89235610628,506337,149SH  SOLE0287,890049,259
Taiwan Semiconductor Manufacturing Co., Ltd. SponsCOM87403910073,2141,531,995SH  SOLE01,304,7820227,213
Texas Instruments IncorporatedCOM88250810410,325103,327SH  SOLE088,246015,081
United Airlines Holdings, Inc.COM91004710911,051350,273SH  SOLE0299,024051,249
Uber Technologies, Inc.COM90353T1009,596343,683SH  SOLE0293,456050,227
Net 1 UEPS Technologies, Inc.COM64107N2061,472505,793SH  SOLE0431,744074,049
Union Pacific CorporationCOM90781810824,318172,419SH  SOLE0147,192025,227
Marriott Vacations Worldwide CorporationCOM57164Y1071,98435,696SH  SOLE030,44805,248
Valaris PLC Class ACOMG3157S1065651,254,421SH  SOLE01,071,8940182,527
Veeco Instruments Inc.COM92241710086089,915SH  SOLE076,647013,268
VICI Properties IncCOM9256521092,883173,250SH  SOLE0147,594025,656
Vipshop Holdings Ltd Sponsored ADRCOM92763W10321,1071,354,773SH  SOLE01,154,8100199,963
Venator Materials PLCCOMG9329Z1001,082629,180SH  SOLE0537,008092,172
Vista Outdoor IncCOM9283771004,304489,125SH  SOLE0416,353072,772
Western Digital CorporationCOM9581021054,846116,431SH  SOLE099,160017,271
Wells Fargo & CompanyCOM94974610155,6861,940,282SH  SOLE01,654,0950286,187
Willis Towers Watson Public Limited CompanyCOMG9662910326,488155,947SH  SOLE0133,051022,896
Walmart Inc.COM93114210326,696234,955SH  SOLE0200,256034,699
WestRock CompanyCOM96145D1053,393120,068SH  SOLE0102,989017,079
58.com Inc. Sponsored ADR Class ACOM31680Q1048,334171,059SH  SOLE0145,994025,065
Yandex NV Class ACOMN9728410815,677460,403SH  SOLE0392,448067,955