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
AARON'S INC COM 002535300 52,728 2,408,789 SH   SOLE   0 1,096,430 1,312,359
AETNA INC NEW COM 00817Y108 3,169 25,950 SH   SOLE   0 0 25,950
AGCO CORPORATION COM 001084102 34,894 740,371 SH   SOLE   0 342,250 398,121
ALCOA INC COM 013817101 597,509 64,456,242 SH   SOLE   0 14,842,790 49,613,452
ALLEGHANY CORPORATION COM 017175100 107,830 196,205 SH   SOLE   0 15,988 180,217
ALLY FINANCIAL INC COM 02005N100 183,840 10,769,760 SH   SOLE   0 826,910 9,942,850
ALPHABET INC. CL C COM 02079K107 199,602 288,401 SH   SOLE   0 51,288 237,113
ALPHABET INC. CL A COM 02079K305 195,016 277,197 SH   SOLE   0 51,303 225,894
AMERICAN EXPRESS COMPANY COM 025816109 367,134 6,042,364 SH   SOLE   0 1,125,844 4,916,520
AMERICAN INTL GROUP INC COM 026874784 658,057 12,441,990 SH   SOLE   0 2,821,710 9,620,280
AMERIPRISE FINANCIAL INC COM 03076C106 4,677 52,050 SH   SOLE   0 0 52,050
AMERISOURCEBERGEN CORP COM 03073E105 14,061 177,270 SH   SOLE   0 77,760 99,510
ANALOG DEVICES INC COM 032654105 267,073 4,715,280 SH   SOLE   0 888,230 3,827,050
ANTHEM INC COM 036752103 5,431 41,350 SH   SOLE   0 0 41,350
AON PLC COM G0408V102 656,129 6,006,861 SH   SOLE   0 1,264,441 4,742,420
APOLLO EDUCATION GRP CL A COM 037604105 42,796 4,692,581 SH   SOLE   0 2,017,774 2,674,807
ARRIS GROUP INC COM G0551A103 77,926 3,717,862 SH   SOLE   0 1,666,408 2,051,454
ARROW ELECTRONICS INC. COM 042735100 36,581 590,963 SH   SOLE   0 285,670 305,293
AVNET INC COM 053807103 53,550 1,321,900 SH   SOLE   0 637,850 684,050
BABCOCK & WILCOX ENTERPRISES I COM 05614L100 30,935 2,105,860 SH   SOLE   0 1,006,810 1,099,050
BANK OF AMERICA CORP COM 060505104 435,171 32,793,600 SH   SOLE   0 7,329,440 25,464,160
BANK OF AMERICA CORP COM 060505104 499 37,600 SH Call SOLE   0 37,600 0
CARDINAL HEALTH INC. COM 14149Y108 7,689 98,560 SH   SOLE   0 0 98,560
CBS CORP CL B NON VOTING COM 124857202 11,318 207,900 SH   SOLE   0 61,300 146,600
CIMAREX ENERGY CO COM 171798101 63,087 528,720 SH   SOLE   0 244,870 283,850
CISCO SYSTEMS INC COM 17275R102 562,493 19,605,880 SH   SOLE   0 3,679,160 15,926,720
CIT GROUP INC. COM 125581801 452,693 14,186,561 SH   SOLE   0 2,375,299 11,811,262
CIT GROUP INC. COM 125581801 447 14,000 SH Call SOLE   0 14,000 0
CIT GROUP INC. COM 125581801 1,595 50,000 SH Call SOLE   0 50,000 0
CITIGROUP INC COM 172967424 620,956 14,648,635 SH   SOLE   0 3,232,295 11,416,340
CITIGROUP INC COM 172967424 42 1,000 SH Call SOLE   0 1,000 0
CITIGROUP INC COM 172967424 42 1,000 SH Call SOLE   0 1,000 0
COMERICA INC COM 200340107 8,175 198,770 SH   SOLE   0 198,770 0
CUBIC CORP COM 229669106 22,339 556,247 SH   SOLE   0 269,947 286,300
CVS HEALTH CORPORATION COM 126650100 10,933 114,190 SH   SOLE   0 68,740 45,450
DANA INC COM 235825205 47,235 4,473,045 SH   SOLE   0 2,144,001 2,329,044
DELTA AIR LINES INC COM 247361702 4,291 117,800 SH   SOLE   0 0 117,800
DEVRY EDUCATION GROUP INC. COM 251893103 43,448 2,435,398 SH   SOLE   0 1,192,899 1,242,499
DISCOVERY COMMUNICATIONS SER C COM 25470F302 3,439 144,200 SH   SOLE   0 0 144,200
EBAY INC COM 278642103 583 24,900 SH   SOLE   0 0 24,900
ESTERLINE TECHNOLOGIES CORP COM 297425100 228,962 3,690,554 SH   SOLE   0 826,683 2,863,871
FOOT LOCKER INC COM 344849104 8,354 152,270 SH   SOLE   0 75,750 76,520
FOREST CITY REALTY TRUST-A COM 345605109 17,113 767,070 SH   SOLE   0 767,070 0
GENERAL ELECTRIC COMPANY COM 369604103 335,245 10,649,460 SH   SOLE   0 2,011,290 8,638,170
HALLIBURTON COMPANY COM 406216101 167,688 3,702,530 SH   SOLE   0 701,850 3,000,680
HELMERICH & PAYNE INC COM 423452101 58,961 878,305 SH   SOLE   0 423,257 455,048
HIBBETT SPORTS INC COM 428567101 8,597 247,100 SH   SOLE   0 117,690 129,410
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 37,781 2,417,224 SH   SOLE   0 1,084,827 1,332,397
INGERSOLL-RAND PLC COM G47791101 2,423 38,050 SH   SOLE   0 0 38,050
INTERDIGITAL INC COM 45867G101 80,073 1,438,101 SH   SOLE   0 657,931 780,170
INVESCO LIMITED COM G491BT108 5,724 224,100 SH   SOLE   0 0 224,100
JOY GLOBAL INC COM 481165108 3,507 165,900 SH   SOLE   0 0 165,900
KLX INC COM 482539103 18,433 594,620 SH   SOLE   0 594,620 0
LABORATORY CORP AMER HLDGS COM 50540R409 2,658 20,400 SH   SOLE   0 0 20,400
LEGG MASON INC COM 524901105 118,100 4,004,740 SH   SOLE   0 335,421 3,669,319
LEUCADIA NATIONAL CORP COM 527288104 390,273 22,520,090 SH   SOLE   0 4,683,647 17,836,443
LPL FINL HLDGS INC COM 50212V100 102,862 4,565,570 SH   SOLE   0 399,600 4,165,970
MADISON SQUARE GARDEN CO CL A COM 55825T103 5,883 34,100 SH   SOLE   0 0 34,100
MCKESSON CORP COM 58155Q103 15,921 85,300 SH   SOLE   0 37,000 48,300
MICROSOFT CORP COM 594918104 525,089 10,261,650 SH   SOLE   0 2,248,640 8,013,010
NEXEO SOLUTIONS INC COM 65342H102 183,018 20,380,574 SH   SOLE   0 2,688,857 17,691,717
NOBLE ENERGY INC COM 655044105 66,858 1,863,901 SH   SOLE   0 845,191 1,018,710
OCCIDENTAL PETROLEUM CORP COM 674599105 58,737 777,350 SH   SOLE   0 141,930 635,420
OMNICOM GROUP INC COM 681919106 2,689 33,000 SH   SOLE   0 0 33,000
ORACLE CORPORATION COM 68389X105 1,091,481 26,667,007 SH   SOLE   0 6,001,330 20,665,677
OSHKOSH CORP COM 688239201 19,268 403,860 SH   SOLE   0 192,800 211,060
OWENS ILLINOIS INC COM 690768403 185,564 10,303,380 SH   SOLE   0 893,750 9,409,630
PAR PACIFIC HOLDINGS INC. COM 69888T207 425 27,700 SH   SOLE   0 27,700 0
PATTERSON-UTI ENERGY INC COM 703481101 77,105 3,616,574 SH   SOLE   0 1,595,374 2,021,200
QUALCOMM INC COM 747525103 209,832 3,916,960 SH   SOLE   0 737,800 3,179,160
REGIS CORP COM 758932107 13,783 1,107,100 SH   SOLE   0 1,107,100 0
ROBERT HALF INTL INC COM 770323103 2,805 73,500 SH   SOLE   0 0 73,500
ROWAN COMPANIES PLC COM G7665A101 44,440 2,516,414 SH   SOLE   0 1,134,694 1,381,720
RUSH ENTERPRISES INC CL A COM 781846209 12,651 587,040 SH   SOLE   0 587,040 0
SIGNET JEWELERS LIMITED COM G81276100 12,238 148,500 SH   SOLE   0 13,500 135,000
SM ENERGY COMPANY COM 78454L100 26,030 964,063 SH   SOLE   0 444,160 519,903
SOUTHWEST AIRLINES CO COM 844741108 4,180 106,600 SH   SOLE   0 0 106,600
SPIRIT AIRLINES INC COM 848577102 4,530 100,950 SH   SOLE   0 0 100,950
SPX CORP COM 784635104 850 57,220 SH   SOLE   0 57,220 0
STEWART INFORMATION SVCS COM 860372101 1,834 44,283 SH   SOLE   0 44,283 0
TE CONNECTIVITY LTD COM H84989104 394,499 6,907,710 SH   SOLE   0 1,299,290 5,608,420
TEMPUR SEALY INTERNATIONAL COM 88023U101 3,955 71,500 SH   SOLE   0 0 71,500
THERMO FISHER SCIENTIFIC INC COM 883556102 264,318 1,788,830 SH   SOLE   0 336,910 1,451,920
TIME WARNER INC COM 887317303 7,381 100,370 SH   SOLE   0 0 100,370
TRINITY INDUSTRIES INC COM 896522109 1,376 74,080 SH   SOLE   0 74,080 0
TWENTY FIRST CENTY FOX INC CL COM 90130A101 6,965 257,500 SH   SOLE   0 0 257,500
TWENTY FIRST CENTY FOX INC CL COM 90130A200 4,087 150,000 SH   SOLE   0 0 150,000
UNITED TECHNOLOGIES CORP COM 913017109 703,795 6,862,946 SH   SOLE   0 1,335,486 5,527,460
VEECO INSTRUMENTS INC COM 922417100 31,248 1,886,986 SH   SOLE   0 924,986 962,000
WALGREENS BOOTS ALLIANCE INC COM 931427108 7,024 84,350 SH   SOLE   0 0 84,350
WESTERN DIGITAL CORP. COM 958102105 100,902 2,135,040 SH   SOLE   0 933,260 1,201,780
WHIRLPOOL CORP. COM 963320106 5,932 35,600 SH   SOLE   0 0 35,600
YAHOO INC COM 984332106 173,060 4,607,570 SH   SOLE   0 1,194,870 3,412,700
FEDERAL HOME LN MTG CORP V 5.5 PFD 313400673 101 30,647 SH   SOLE   0 30,647 0
FEDERAL HOME LN MTG CORP W 5.6 PFD 313400665 145 43,853 SH   SOLE   0 43,853 0
FEDERAL HOME LN MTG H 5.10% PFD 313400855 12 1,925 SH   SOLE   0 1,925 0
BAIDU INC SPON ADR REP A ADR 056752108 69,184 418,916 SH   SOLE   0 76,000 342,916
TAIWAN SEMICONDUCTOR MFG ADR 874039100 4,144 158,000 SH   SOLE   0 13,400 144,600
HORNBECK OFFSHORE SVCS INC CV 440543AN6 8,745 15,375,000 PRN   SOLE   0 15,375,000 0
UTI WORLDWIDE INC CV 90349LAB0 15,362 15,135,000 PRN   SOLE   0 15,135,000 0
WALTER INVESTMENT MGMT CV 93317WAA0 10,245 31,283,000 PRN   SOLE   0 2,442,000 28,841,000
AMERICAN INTL GROUP WT WT 026874156 10,779 576,733 SH   SOLE   0 576,733 0
BANK OF AMERICA CORP WT WT 060505146 180 51,677 SH   SOLE   0 51,677 0
JPMORGAN CHASE & CO WT 46634E114 202 10,000 SH   SOLE   0 10,000 0
NEXEO SOLUTIONS INC WT WT 65342H110 62 89,388 SH   SOLE   0 89,388 0