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 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 124,021 2,722,153 SH   SOLE   2,080,453 0 641,700
Alphabet Inc. Cl A COMMON 02079K305 154,650 195,154 SH   SOLE   149,754 0 45,400
Alphabet Inc. Cl C COMMON 02079K107 347 450 SH   SOLE   450 0 0
Analog Devices Inc COMMON 032654105 153,588 2,114,953 SH   SOLE   1,625,753 0 489,200
Applied Materials COMMON 038222105 160,764 4,981,850 SH   SOLE   3,815,650 0 1,166,200
Bank of America Corporatio COMMON 060505104 211,875 9,587,123 SH   SOLE   7,361,923 0 2,225,200
Berkshire Hathaway, Inc. Cl B COMMON 084670702 173,806 1,066,425 SH   SOLE   822,275 0 244,150
BP PLC Sponsored ADR COMMON 055622104 140,781 3,766,209 SH   SOLE   2,862,659 0 903,550
Calpine Corporation COMMON 131347304 155,775 13,628,594 SH   SOLE   10,419,344 0 3,209,250
Capital One Financial Corp COMMON 14040H105 192,284 2,204,082 SH   SOLE   1,688,082 0 516,000
CBS Corporation COMMON 124857202 153,592 2,414,202 SH   SOLE   1,852,152 0 562,050
CitiGroup, Inc. COMMON 172967424 210,062 3,534,611 SH   SOLE   2,712,511 0 822,100
Comcast Corporation Class A COMMON 20030N101 165,042 2,390,177 SH   SOLE   1,822,477 0 567,700
Exelon Corporation COMMON 30161N101 127,669 3,597,327 SH   SOLE   2,757,927 0 839,400
First Data Corporation COMMON 32008D106 180,423 12,714,780 SH   SOLE   9,763,480 0 2,951,300
General Electric Company COMMON 369604103 190,002 6,012,718 SH   SOLE   4,612,618 0 1,400,100
Hewlett Packard Enterprise COMMON 42824C109 179,552 7,759,370 SH   SOLE   5,965,420 0 1,793,950
International Paper Company COMMON 460146103 153,526 2,893,441 SH   SOLE   2,217,541 0 675,900
Keysight Technologies, Inc. COMMON 49338L103 157,030 4,293,970 SH   SOLE   3,290,670 0 1,003,300
Marsh & McLennan Companies Inc. COMMON 571748102 141,314 2,090,751 SH   SOLE   1,597,251 0 493,500
Merck & Co. Inc. COMMON 58933Y105 195,151 3,314,952 SH   SOLE   2,552,752 0 762,200
Microsoft Corporation COMMON 594918104 142,817 2,298,309 SH   SOLE   1,764,859 0 533,450
Occidental Pertoleum Corp COMMON 674599105 186,941 2,624,473 SH   SOLE   2,013,773 0 610,700
Oracle Corporation COMMON 68389X105 185,124 4,814,664 SH   SOLE   3,695,464 0 1,119,200
Pfizer Inc. COMMON 717081103 163,119 5,022,125 SH   SOLE   3,836,525 0 1,185,600
Thermo Fisher Scientific, COMMON 883556102 152,602 1,081,520 SH   SOLE   830,420 0 251,100
Time Warner, Inc. COMMON 887317303 129,691 1,343,527 SH   SOLE   1,027,527 0 316,000
TOTAL S.A. - ADR COMMON 89151E109 146,262 2,869,571 SH   SOLE   2,164,821 0 704,750
Vodafone Group Plc ADR COMMON 92857W308 148,536 6,080,064 SH   SOLE   4,588,514 0 1,491,550
Walgreens Boots Alliance, Inc. COMMON 931427108 164,258 1,984,747 SH   SOLE   1,521,547 0 463,200
Wal-Mart Stores, Inc. COMMON 931142103 146,660 2,121,819 SH   SOLE   1,633,519 0 488,300
Allergan plc COMMON G0177J108 147,932 704,404 SH   SOLE   532,904 0 171,500
Aon PLC COMMON G0408V102 152,756 1,369,637 SH   SOLE   1,040,387 0 329,250
Invesco Ltd. COMMON G491BT108 135,976 4,481,747 SH   SOLE   3,400,697 0 1,081,050
Liberty Global plc - Series C COMMON G5480U120 163,715 5,512,279 SH   SOLE   4,165,429 0 1,346,850
Perrigo Company plc COMMON G97822103 167,650 2,014,296 SH   SOLE   1,526,096 0 488,200
Flex, Ltd. COMMON Y2573F102 155,411 10,814,954 SH   SOLE   8,235,254 0 2,579,700