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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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
Agilent Technologies, Inc. COMMON 00846U101 116,782 2,479,974 SH   SOLE   1,914,574 0 565,400
Alphabet Inc. Cl A COMMON 02079K305 147,233 183,112 SH   SOLE   141,157 0 41,955
Alphabet Inc. Cl C COMMON 02079K107 323 415 SH   SOLE   415 0 0
Analog Devices Inc COMMON 032654105 138,129 2,143,199 SH   SOLE   1,653,999 0 489,200
Applied Materials COMMON 038222105 153,601 5,094,574 SH   SOLE   3,928,374 0 1,166,200
Bank of America Corporatio COMMON 060505104 188,988 12,075,903 SH   SOLE   9,329,753 0 2,746,150
Berkshire Hathaway, Inc. C COMMON 084670702 156,191 1,081,128 SH   SOLE   837,928 0 243,200
BP PLC Sponsored ADR COMMON 055622104 179,209 5,096,968 SH   SOLE   3,896,418 0 1,200,550
Calpine Corporation COMMON 131347304 117,413 9,288,982 SH   SOLE   7,163,488 0 2,125,494
Capital One Financial Corp COMMON 14040H105 189,966 2,644,664 SH   SOLE   2,039,514 0 605,150
CBS Corporation COMMON 124857202 166,680 3,044,942 SH   SOLE   2,349,342 0 695,600
CIT Group Inc COMMON 125581801 168,117 4,631,334 SH   SOLE   3,593,634 0 1,037,700
CitiGroup, Inc. COMMON 172967424 189,763 4,017,856 SH   SOLE   3,100,456 0 917,400
Comcast Corporation Class A COMMON 20030N101 151,056 2,276,992 SH   SOLE   1,763,942 0 513,050
Exelon Corporation COMMON 30161N101 157,334 4,726,155 SH   SOLE   3,647,355 0 1,078,800
First Data Corporation COMMON 32008D106 153,745 11,682,717 SH   SOLE   9,036,867 0 2,645,850
General Electric Company COMMON 369604103 181,917 6,141,698 SH   SOLE   4,741,598 0 1,400,100
Hewlett Packard Enterprise COMMON 42824C109 161,454 7,096,883 SH   SOLE   5,476,383 0 1,620,500
International Paper Company COMMON 460146103 146,812 3,059,860 SH   SOLE   2,357,960 0 701,900
Keysight Technologies, Inc. COMMON 49338L103 151,079 4,767,414 SH   SOLE   3,685,264 0 1,082,150
Marsh & McLennan Companies Inc. COMMON 571748102 114,068 1,696,174 SH   SOLE   1,306,024 0 390,150
Merck & Co. Inc. COMMON 58933Y105 211,384 3,387,016 SH   SOLE   2,624,816 0 762,200
Microsoft Corporation COMMON 594918104 153,067 2,657,413 SH   SOLE   2,053,463 0 603,950
Oracle Corporation COMMON 68389X105 170,075 4,329,823 SH   SOLE   3,349,923 0 979,900
Pfizer Inc. COMMON 717081103 172,231 5,085,058 SH   SOLE   3,926,358 0 1,158,700
Procter & Gamble Company COMMON 742718109 151,633 1,689,503 SH   SOLE   1,312,203 0 377,300
Texas Instruments Inc. COMMON 882508104 119,038 1,696,178 SH   SOLE   1,308,728 0 387,450
Thermo Fisher Scientific, COMMON 883556102 158,255 994,938 SH   SOLE   767,988 0 226,950
Time Warner, Inc. COMMON 887317303 150,429 1,889,580 SH   SOLE   1,456,580 0 433,000
TOTAL S.A. - ADR COMMON 89151E109 174,952 3,667,753 SH   SOLE   2,793,453 0 874,300
Vodafone Group Plc ADR COMMON 92857W308 147,467 5,058,899 SH   SOLE   3,862,149 0 1,196,750
Walgreens Boots Alliance, Inc. COMMON 931427108 163,288 2,025,402 SH   SOLE   1,562,202 0 463,200
AerCap Holdings NV COMMON N00985106 108,724 2,824,735 SH   SOLE   2,175,135 0 649,600
Aon PLC COMMON G0408V102 160,481 1,426,622 SH   SOLE   1,093,122 0 333,500
Invesco Ltd. COMMON G491BT108 118,445 3,787,802 SH   SOLE   2,903,852 0 883,950
Liberty Global plc - Series C COMMON G5480U120 172,054 5,207,448 SH   SOLE   3,978,198 0 1,229,250
Flex, Ltd. COMMON Y2573F102 150,660 11,061,685 SH   SOLE   8,481,985 0 2,579,700