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
Alphabet Inc. Cl A COMMON 02079K305 136,903 147,258 SH   SOLE   110,868 0 36,390
Analog Devices Inc COMMON 032654105 185,189 2,380,325 SH   SOLE   1,804,975 0 575,350
Antero Resources Corporation COMMON 03674X106 203,272 9,406,400 SH   SOLE   7,108,900 0 2,297,500
Applied Materials COMMON 038222105 139,786 3,383,835 SH   SOLE   2,563,485 0 820,350
Bank of America Corporatio COMMON 060505104 219,024 9,028,212 SH   SOLE   6,835,562 0 2,192,650
Berkshire Hathaway, Inc. C COMMON 084670702 176,799 1,043,862 SH   SOLE   798,112 0 245,750
BP PLC Sponsored ADR COMMON 055622104 140,482 4,054,311 SH   SOLE   3,046,561 0 1,007,750
Calpine Corporation COMMON 131347304 80,684 5,963,314 SH   SOLE   4,526,164 0 1,437,150
Capital One Financial Corp COMMON 14040H105 227,842 2,757,706 SH   SOLE   2,087,706 0 670,000
CBS Corporation COMMON 124857202 117,176 1,837,196 SH   SOLE   1,393,446 0 443,750
CitiGroup, Inc. COMMON 172967424 230,516 3,446,704 SH   SOLE   2,620,554 0 826,150
Comcast Corporation Class A COMMON 20030N101 152,395 3,915,594 SH   SOLE   2,938,744 0 976,850
Delta Air Lines Inc COMMON 247361702 158,224 2,944,241 SH   SOLE   2,229,291 0 714,950
Exelon Corporation COMMON 30161N101 136,804 3,792,749 SH   SOLE   2,878,549 0 914,200
First Data Corporation COMMON 32008D106 227,741 12,513,257 SH   SOLE   9,530,707 0 2,982,550
General Electric Company COMMON 369604103 173,902 6,438,444 SH   SOLE   4,866,994 0 1,571,450
The Goodyear Tire and Rubber Co COMMON 382550101 101,396 2,900,356 SH   SOLE   2,187,356 0 713,000
Hewlett Packard Enterprise COMMON 42824C109 159,798 9,632,181 SH   SOLE   7,288,031 0 2,344,150
International Paper Company COMMON 460146103 190,271 3,361,084 SH   SOLE   2,550,734 0 810,350
Keysight Technologies, Inc. COMMON 49338L103 172,342 4,426,981 SH   SOLE   3,357,281 0 1,069,700
Marsh & McLennan Companies Inc. COMMON 571748102 133,557 1,713,148 SH   SOLE   1,294,098 0 419,050
Merck & Co. Inc. COMMON 58933Y105 201,237 3,139,905 SH   SOLE   2,377,705 0 762,200
Microsoft Corporation COMMON 594918104 190,853 2,768,798 SH   SOLE   2,096,998 0 671,800
Occidental Petroleum Corporation COMMON 674599105 202,975 3,390,254 SH   SOLE   2,567,654 0 822,600
Oracle Corporation COMMON 68389X105 177,497 3,540,032 SH   SOLE   2,683,932 0 856,100
Pfizer Inc. COMMON 717081103 159,688 4,754,021 SH   SOLE   3,600,371 0 1,153,650
Thermo Fisher Scientific, COMMON 883556102 192,186 1,101,543 SH   SOLE   835,693 0 265,850
TOTAL S.A. - ADR COMMON 89151E109 191,968 3,871,102 SH   SOLE   2,885,552 0 985,550
Vodafone Group Plc ADR COMMON 92857W308 152,722 5,315,753 SH   SOLE   3,980,453 0 1,335,300
Wal-Mart Stores, Inc. COMMON 931142103 172,337 2,277,186 SH   SOLE   1,730,686 0 546,500
Walgreens Boots Alliance, Inc. COMMON 931427108 178,459 2,278,874 SH   SOLE   1,728,624 0 550,250
Allergan plc COMMON G0177J108 192,861 793,371 SH   SOLE   593,921 0 199,450
Aon PLC COMMON G0408V102 149,762 1,126,454 SH   SOLE   843,454 0 283,000
Invesco Ltd. COMMON G491BT108 155,209 4,410,603 SH   SOLE   3,306,453 0 1,104,150
Liberty Global plc - Series C COMMON G5480U120 1,320 42,350 SH   SOLE   42,350 0 0
Pentair plc COMMON G7S00T104 153,299 2,303,860 SH   SOLE   1,730,410 0 573,450
Flex, Ltd. COMMON Y2573F102 168,465 10,328,932 SH   SOLE   7,744,832 0 2,584,100