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
Actuant Corporation COM 00508X203 1,422 58,350 SH   SOLE   0 0 58,350
Actuant Corporation COM 00508X203 142,362 5,841,674 SH   DFND 1 5,841,674 0 0
Affiliated Managers Group Inc. COM 008252108 76,686 715,955 SH   SOLE   701,100 0 14,855
Affiliated Managers Group Inc. COM 008252108 104,523 975,850 SH   DFND 1 975,850 0 0
Allergan plc COM G0177J108 188,251 1,285,781 SH   SOLE   1,184,735 0 101,046
Allergan plc COM G0177J108 108,602 741,764 SH   DFND 1 741,764 0 0
Alphabet Inc. CL C COM 02079K107 250,821 213,772 SH   SOLE   175,750 22,669 15,353
Alphabet Inc. CL C COM 02079K107 1,291 1,100 SH   DFND 2 0 0 1,100
Alphabet Inc. CL C COM 02079K107 107,042 91,231 SH   DFND 1 91,231 0 0
Alta Mesa Resources, Inc. COM 02133L109 52 197,000 SH   DFND 2 0 0 197,000
Baidu, Inc. ADR COM 056752108 79,638 483,093 SH   SOLE   341,492 0 141,601
Baidu, Inc. ADR COM 056752108 53,999 327,562 SH   DFND 1 327,562 0 0
Belmond Ltd Class A COM G1154H107 2,849 114,269 SH   SOLE   114,269 0 0
Belmond Ltd Class A COM G1154H107 26,668 1,069,711 SH   DFND 1 1,069,711 0 0
CenturyLink Inc COM 156700106 388,095 32,368,231 SH   SOLE   23,025,128 7,351,785 1,991,318
CenturyLink Inc COM 156700106 22,781 1,900,000 SH   DFND 2 0 0 1,900,000
CenturyLink Inc COM 156700106 395,614 32,995,370 SH   DFND 1 32,995,370 0 0
CNH Industrial NV - U.S. COM N20944109 92,141 9,033,440 SH   SOLE   8,846,603 0 186,837
CNX Resources Corp COM 12653C108 244,695 22,720,023 SH   SOLE   18,553,132 2,523,131 1,643,760
CNX Resources Corp COM 12653C108 10,339 960,000 SH   DFND 2 0 0 960,000
CNX Resources Corp COM 12653C108 251,675 23,368,134 SH   DFND 1 23,368,134 0 0
Comcast Corporation Cl A COM 20030N101 226,082 5,654,878 SH   SOLE   4,260,900 1,050,507 343,471
Comcast Corporation Cl A COM 20030N101 93,321 2,334,196 SH   DFND 1 2,334,196 0 0
Eastman Kodak Company COM 277461406 2,842 960,000 SH   DFND 2 0 0 960,000
Eastman Kodak Company COM 277461406 11,840 4,000,000 SH   DFND 1 4,000,000 0 0
FedEx Corporation COM 31428X106 367,812 2,027,517 SH   SOLE   1,522,069 384,420 121,028
FedEx Corporation COM 31428X106 12,880 71,000 SH   DFND 2 0 0 71,000
FedEx Corporation COM 31428X106 148,430 818,200 SH   DFND 1 818,200 0 0
GCI Liberty Inc COM 36164V305 1,691 30,405 SH   SOLE   0 0 30,405
GCI Liberty Inc COM 36164V305 182,098 3,274,555 SH   DFND 1 3,274,555 0 0
General Electric COM 369604103 383,951 38,433,578 SH   SOLE   29,330,954 6,472,006 2,630,618
General Electric COM 369604103 173,226 17,339,894 SH   DFND 1 17,339,894 0 0
Graham Holdings Company COM 384637104 120,899 176,965 SH   SOLE   108,550 62,829 5,586
Graham Holdings Company COM 384637104 229,505 335,936 SH   DFND 1 335,936 0 0
Grupo Televisa SAB - ADR COM 40049J206 388 35,116 SH   SOLE   35,116 0 0
Lazard Ltd COM G54050102 7,527 208,279 SH   SOLE   164,575 0 43,704
Lazard Ltd COM G54050102 13,480 373,000 SH   DFND 2 0 0 373,000
Lazard Ltd COM G54050102 187,381 5,184,876 SH   DFND 1 5,184,876 0 0
Liberty Media Corp - A COM 531229870 710 20,866 SH   SOLE   0 0 20,866
Liberty Media Corp - A COM 531229870 79,046 2,322,149 SH   DFND 1 2,322,149 0 0
Liberty Media Corp - C COM 531229854 920 26,255 SH   SOLE   0 0 26,255
Liberty Media Corp - C COM 531229854 96,458 2,752,021 SH   DFND 1 2,752,021 0 0
Mattel, Inc. COM 577081102 141,260 10,866,187 SH   SOLE   7,949,778 2,621,169 295,240
Mattel, Inc. COM 577081102 324,603 24,969,477 SH   DFND 1 24,969,477 0 0
Park Hotels & Resorts Inc. COM 700517105 115,668 3,721,635 SH   SOLE   2,580,771 1,091,287 49,577
Park Hotels & Resorts Inc. COM 700517105 268,108 8,626,376 SH   DFND 1 8,626,376 0 0
PotlatchDeltic Corporation COM 737630103 1,700 44,985 SH   SOLE   0 0 44,985
PotlatchDeltic Corporation COM 737630103 173,244 4,584,378 SH   DFND 1 4,584,378 0 0
Realogy Holdings Corporation COM 75605Y106 950 83,363 SH   SOLE   0 0 83,363
Realogy Holdings Corporation COM 75605Y106 12,540 1,100,000 SH   DFND 2 0 0 1,100,000
Realogy Holdings Corporation COM 75605Y106 104,144 9,135,453 SH   DFND 1 9,135,453 0 0
Solaris Oilfield Infrastructur COM 83418M103 578 35,148 SH   DFND 2 0 0 35,148
Summit Materials Inc. CL A COM 86614U100 1,921 121,025 SH   SOLE   0 0 121,025
Summit Materials Inc. CL A COM 86614U100 201,540 12,699,444 SH   DFND 1 12,699,444 0 0
United Technologies Corporatio COM 913017109 209,843 1,628,081 SH   SOLE   1,300,823 212,599 114,659
United Technologies Corporatio COM 913017109 109,505 849,597 SH   DFND 1 849,597 0 0
ViaSat Inc. COM 92552V100 25,841 333,438 SH   SOLE   318,332 0 15,106
ViaSat Inc. COM 92552V100 127,986 1,651,432 SH   DFND 1 1,651,432 0 0
Wynn Resorts Limited COM 983134107 79,288 664,495 SH   SOLE   664,495 0 0
Wynn Resorts Limited COM 983134107 98,601 826,359 SH   DFND 1 826,359 0 0
Yum China Holding Inc. COM 98850P109 10,424 232,100 SH   SOLE   232,100 0 0
Yum China Holding Inc. COM 98850P109 35,087 781,278 SH   DFND 1 781,278 0 0