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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Alcoa Corporation COM 013872106   25,825,025 606,791 SH   SOLE 0 413,928 0 192,863
American Airlines Group Inc. COM 02376R102   13,112,632 888,992 SH   SOLE 0 551,402 0 337,590
Advance Auto Parts, Inc. COM 00751Y106   879,727 7,234 SH   SOLE 0 4,889 0 2,345
Adobe Incorporated COM 00724F101   3,541,936 9,191 SH   SOLE 0 6,314 0 2,877
Adient plc COM G0084W101   2,578,186 62,944 SH   SOLE 0 42,677 0 20,267
Autodesk, Inc. COM 052769106   3,701,917 17,784 SH   SOLE 0 12,124 0 5,660
American International Group, Inc. COM 026874784   51,376,718 1,020,189 SH   SOLE 0 696,201 0 323,988
Applied Materials, Inc. COM 038222105   7,812,111 63,601 SH   SOLE 0 43,382 0 20,219
Amazon.com, Inc. COM 023135106   54,792,969 530,477 SH   SOLE 0 362,485 0 167,992
APA Corporation COM 03743Q108   2,423,737 67,214 SH   SOLE 0 45,475 0 21,739
Broadcom Inc. COM 11135F101   20,454,861 31,884 SH   SOLE 0 21,815 0 10,069
American Express Company COM 025816109   60,733,105 368,191 SH   SOLE 0 250,974 0 117,217
Bank of America Corp COM 060505104   84,657,144 2,960,040 SH   SOLE 0 2,035,251 0 924,789
Credicorp Ltd. COM G2519Y108   12,240,647 92,459 SH   SOLE 0 63,214 0 29,245
Bio-Rad Laboratories, Inc. Class A COM 090572207   25,047,956 52,290 SH   SOLE 0 35,744 0 16,546
Booking Holdings Inc. COM 09857L108   50,175,640 18,917 SH   SOLE 0 12,947 0 5,970
TopBuild Corp. COM 89055F103   8,006,730 38,468 SH   SOLE 0 26,800 0 11,668
Bristol-Myers Squibb Company COM 110122108   2,747,518 39,641 SH   SOLE 0 27,016 0 12,625
Berkshire Hathaway Inc. Class B COM 084670702   46,929,335 151,988 SH   SOLE 0 104,458 0 47,530
Peabody Energy Corporation COM 704551100   28,748,262 1,122,979 SH   SOLE 0 557,344 0 565,635
Citigroup Inc. COM 172967424   50,571,287 1,078,509 SH   SOLE 0 735,709 0 342,800
Avis Budget Group, Inc. COM 053774105   3,139,786 16,118 SH   SOLE 0 10,906 0 5,212
CBRE Group, Inc. Class A COM 12504L109   47,850,295 657,194 SH   SOLE 0 448,129 0 209,065
Citizens Financial Group, Inc. COM 174610105   13,066,632 430,248 SH   SOLE 0 293,788 0 136,460
Charter Communications, Inc. Class A COM 16119P108   2,061,979 5,766 SH   SOLE 0 3,957 0 1,809
CME Group Inc. Class A COM 12572Q105   2,757,696 14,399 SH   SOLE 0 10,005 0 4,394
Centene Corporation COM 15135B101   4,509,907 71,348 SH   SOLE 0 49,177 0 22,171
Capital One Financial Corp COM 14040H105   22,965,989 238,831 SH   SOLE 0 162,920 0 75,911
ConocoPhillips COM 20825C104   36,694,505 369,867 SH   SOLE 0 252,809 0 117,058
Costco Wholesale Corporation COM 22160K105   93,436,404 188,050 SH   SOLE 0 128,176 0 59,874
Copa Holdings, S.A. Class A COM P31076105   8,241,960 89,247 SH   SOLE 0 61,203 0 28,044
Corteva Inc COM 22052L104   6,553,827 108,669 SH   SOLE 0 74,019 0 34,650
Cemex SAB de CV Sponsored ADR COM 151290889   21,270,675 3,846,415 SH   SOLE 0 2,291,623 0 1,554,792
Caesars Entertainment Inc COM 12769G100   7,208,944 147,694 SH   SOLE 0 101,332 0 46,362
Delta Air Lines, Inc. COM 247361702   23,214,397 664,788 SH   SOLE 0 425,277 0 239,511
DHT Holdings, Inc. COM Y2065G121   39,000,631 3,607,829 SH   SOLE 0 2,474,573 0 1,133,256
Walt Disney Company COM 254687106   12,737,237 127,207 SH   SOLE 0 86,774 0 40,433
NOW Inc. COM 67011P100   2,481,176 222,527 SH   SOLE 0 153,978 0 68,549
Diana Shipping Inc. COM Y2066G104   15,151,079 3,884,892 SH   SOLE 0 2,655,721 0 1,229,171
DXC Technology Co. COM 23355L106   8,081,510 316,178 SH   SOLE 0 216,280 0 99,898
eBay Inc. COM 278642103   2,860,179 64,462 SH   SOLE 0 43,971 0 20,491
Elevance Health, Inc. COM 036752103   42,040,888 91,431 SH   SOLE 0 62,477 0 28,954
EPAM Systems, Inc. COM 29414B104   13,866,125 46,375 SH   SOLE 0 31,634 0 14,741
iShares MSCI Malaysia ETF COM 46434G814   9,972,842 449,835 SH   SOLE 0 449,835 0 0
iShares MSCI South Korea ETF COM 464286772   31,995,409 522,630 SH   SOLE 0 522,630 0 0
iShares MSCI Brazil ETF COM 464286400   1,944,391 71,015 SH   SOLE 0 71,015 0 0
FirstCash Holdings, Inc. COM 33768G107   6,612,479 69,335 SH   SOLE 0 47,273 0 22,062
Freeport-McMoRan, Inc. COM 35671D857   47,710,387 1,166,228 SH   SOLE 0 795,118 0 371,110
Liberty Media Corp. Series A Liberty Formula One COM 531229870   2,310,120 34,224 SH   SOLE 0 22,766 0 11,458
Liberty Media Corp. Series C Liberty Formula One COM 531229854   13,007,849 173,832 SH   SOLE 0 118,705 0 55,127
Graco Inc. COM 384109104   4,101,264 56,174 SH   SOLE 0 38,171 0 18,003
Golar LNG Limited COM G9456A100   12,558,802 581,426 SH   SOLE 0 399,311 0 182,115
Corning Inc COM 219350105   20,224,719 573,263 SH   SOLE 0 391,089 0 182,174
Golden Ocean Group Ltd COM G39637205   5,109,156 536,676 SH   SOLE 0 363,629 0 173,047
Alphabet Inc. Class C COM 02079K107   86,304,088 829,847 SH   SOLE 0 569,134 0 260,713
Garmin Ltd. COM H2906T109   4,808,636 47,648 SH   SOLE 0 32,717 0 14,931
Ferroglobe PLC COM G33856108   19,569,454 3,961,428 SH   SOLE 0 2,302,616 0 1,658,812
Huntington Bancshares Incorporated COM 446150104   1,692,096 151,080 SH   SOLE 0 102,849 0 48,231
Hanesbrands Inc. COM 410345102   995,560 189,270 SH   SOLE 0 128,558 0 60,712
Warrior Met Coal, Inc. COM 93627C101   5,998,010 163,389 SH   SOLE 0 88,801 0 74,588
Hackett Group, Inc. COM 404609109   3,970,502 214,854 SH   SOLE 0 145,498 0 69,356
D-MARKET Elektronik Hizmetler ve Ticaret AS Sponso COM 23292B104   9,079,191 6,775,516 SH   SOLE 0 4,694,089 0 2,081,427
Hewlett Packard Enterprise Co. COM 42824C109   1,087,637 68,276 SH   SOLE 0 46,618 0 21,658
HP Inc. COM 40434L105   1,942,060 66,169 SH   SOLE 0 45,551 0 20,618
iShares MSCI India ETF COM 46429B598   3,933,048 99,925 SH   SOLE 0 99,925 0 0
International Seaways, Inc. COM Y41053102   30,509,302 731,989 SH   SOLE 0 503,080 0 228,909
Intel Corporation COM 458140100   2,629,641 80,491 SH   SOLE 0 54,639 0 25,852
Gartner, Inc. COM 366651107   11,324,743 34,763 SH   SOLE 0 23,695 0 11,068
Jefferies Financial Group Inc. COM 47233W109   22,136,460 697,431 SH   SOLE 0 476,582 0 220,849
JPMorgan Chase & Co. COM 46625H100   25,877,220 198,582 SH   SOLE 0 136,629 0 61,953
Jackson Financial Incorporation Class A COM 46817M107   483,412 12,922 SH   SOLE 0 9,012 0 3,910
KLA Corporation COM 482480100   6,100,914 15,284 SH   SOLE 0 10,347 0 4,937
Kroger Co. COM 501044101   14,835,488 300,496 SH   SOLE 0 204,986 0 95,510
Loews Corporation COM 540424108   6,557,130 113,015 SH   SOLE 0 77,055 0 35,960
Lazard Ltd Class A COM G54050102   6,272,193 189,435 SH   SOLE 0 129,403 0 60,032
Liberty Broadband Corp. Class A COM 530307107   222,217 2,706 SH   SOLE 0 1,935 0 771
Liberty Broadband Corp. Class C COM 530307305   966,838 11,834 SH   SOLE 0 8,068 0 3,766
Liberty Global Plc Class A COM G5480U104   8,266,050 423,900 SH   SOLE 0 288,382 0 135,518
Liberty Global Plc Class C COM G5480U120   1,228,119 60,261 SH   SOLE 0 40,699 0 19,562
Liberty Latin America Ltd. Class A COM G9001E102   703,491 84,656 SH   SOLE 0 57,969 0 26,687
Liberty Latin America Ltd. Class C COM G9001E128   944,853 114,389 SH   SOLE 0 78,165 0 36,224
LivaNova Plc COM G5509L101   786,619 18,050 SH   SOLE 0 12,315 0 5,735
Louisiana-Pacific Corporation COM 546347105   11,849,655 218,588 SH   SOLE 0 149,861 0 68,727
Lam Research Corporation COM 512807108   9,128,666 17,220 SH   SOLE 0 11,736 0 5,484
Lesaka Technologies, Inc. COM 64107N206   6,210,907 1,293,939 SH   SOLE 0 883,269 0 410,670
Liberty Media Corp. Series A Liberty SiriusXM COM 531229409   1,033,094 36,778 SH   SOLE 0 25,117 0 11,661
Liberty Media Corp. Series C Liberty SiriusXM COM 531229607   1,730,790 61,836 SH   SOLE 0 42,312 0 19,524
Liberty TripAdvisor Holdings Inc Class A COM 531465102   10,679 12,432 SH   SOLE 0 8,575 0 3,857
Lumen Technologies, Inc. COM 550241103   164,822 62,197 SH   SOLE 0 42,573 0 19,624
LyondellBasell Industries NV COM N53745100   8,205,047 87,390 SH   SOLE 0 59,829 0 27,561
Masco Corporation COM 574599106   9,318,721 187,424 SH   SOLE 0 128,705 0 58,719
MBIA Inc. COM 55262C100   16,427,490 1,774,027 SH   SOLE 0 1,212,880 0 561,147
Microchip Technology Incorporated COM 595017104   7,059,973 84,268 SH   SOLE 0 58,022 0 26,246
MGM Resorts International COM 552953101   43,314,564 975,114 SH   SOLE 0 665,588 0 309,526
Mohawk Industries, Inc. COM 608190104   1,645,813 16,422 SH   SOLE 0 11,274 0 5,148
Montauk Renewables, Inc. COM 61218C103   1,803,182 229,121 SH   SOLE 0 165,184 0 63,937
Altria Group, Inc. COM 02209S103   3,602,173 80,730 SH   SOLE 0 38,890 0 41,840
Marathon Petroleum Corporation COM 56585A102   24,289,490 180,149 SH   SOLE 0 123,611 0 56,538
Morgan Stanley COM 617446448   27,155,486 309,288 SH   SOLE 0 211,083 0 98,205
Microsoft Corporation COM 594918104   26,351,773 91,404 SH   SOLE 0 62,534 0 28,870
Micron Technology, Inc. COM 595112103   42,044,972 696,801 SH   SOLE 0 476,587 0 220,214
Noble Corporation PLC Class A COM G65431127   23,481,413 594,918 SH   SOLE 0 399,783 0 195,135
Ingevity Corporation COM 45688C107   340,864 4,766 SH   SOLE 0 3,168 0 1,598
NVIDIA Corporation COM 67066G104   8,320,045 29,953 SH   SOLE 0 20,436 0 9,517
Permian Basin Royalty Trust COM 714236106   9,992,288 409,520 SH   SOLE 0 287,482 0 122,038
Philip Morris International Inc. COM 718172109   15,842,414 162,904 SH   SOLE 0 78,944 0 83,960
PNC Financial Services Group, Inc. COM 693475105   7,847,154 61,740 SH   SOLE 0 42,653 0 19,087
PayPal Holdings, Inc. COM 70450Y103   23,705,430 312,160 SH   SOLE 0 212,511 0 99,649
QUALCOMM Incorporated COM 747525103   12,824,980 100,525 SH   SOLE 0 69,261 0 31,264
Transocean Ltd. COM H8817H100   1,676,261 263,563 SH   SOLE 0 178,386 0 85,177
RLX Technology, Inc. Sponsored ADR Class A COM 74969N103   2,324,979 801,717 SH   SOLE 0 389,630 0 412,087
Raytheon Technologies Corporation COM 75513E101   4,028,057 41,132 SH   SOLE 0 38,135 0 2,997
Rackspace Technology, Inc. COM 750102105   915,607 487,025 SH   SOLE 0 332,786 0 154,239
Ryanair Holdings Plc Sponsored ADR COM 783513203   28,362,149 300,797 SH   SOLE 0 160,238 0 140,559
Star Bulk Carriers Corp. COM Y8162K204   4,667,499 220,999 SH   SOLE 0 149,732 0 71,267
Charles Schwab Corp COM 808513105   29,226,364 557,968 SH   SOLE 0 381,181 0 176,787
Sherwin-Williams Company COM 824348106   10,266,819 45,677 SH   SOLE 0 31,056 0 14,621
SL Green Realty Corp. COM 78440X887   6,631,346 281,945 SH   SOLE 0 192,460 0 89,485
Scotts Miracle-Gro Company Class A COM 810186106   1,462,239 20,967 SH   SOLE 0 14,253 0 6,714
Steel Dynamics, Inc. COM 858119100   21,499,150 190,157 SH   SOLE 0 130,218 0 59,939
Scorpio Tankers Inc. COM Y7542C130   20,356,121 361,501 SH   SOLE 0 248,728 0 112,773
Seagate Technology Holdings PLC COM G7997R103   11,777,691 178,126 SH   SOLE 0 121,114 0 57,012
Synchrony Financial COM 87165B103   27,095,697 931,764 SH   SOLE 0 635,718 0 296,046
Tidewater Inc COM 88642R109   4,810,671 109,135 SH   SOLE 0 73,967 0 35,168
Thor Industries, Inc. COM 885160101   5,427,307 68,148 SH   SOLE 0 46,715 0 21,433
Texas Pacific Land Corporation COM 88262P102   2,748,848 1,616 SH   SOLE 0 1,118 0 498
Tractor Supply Company COM 892356106   17,153,689 72,982 SH   SOLE 0 49,638 0 23,344
Taiwan Semiconductor Manufacturing Co., Ltd. Spons COM 874039100   29,847,141 320,868 SH   SOLE 0 218,429 0 102,439
iShares MSCI Turkey ETF COM 464286715   6,339,077 194,331 SH   SOLE 0 194,331 0 0
Union Pacific Corporation COM 907818108   17,086,773 84,899 SH   SOLE 0 57,966 0 26,933
Visa Inc. Class A COM 92826C839   8,617,532 38,222 SH   SOLE 0 26,070 0 12,152
Valaris Ltd. COM G9460G101   14,385,221 221,107 SH   SOLE 0 153,803 0 67,304
Veeco Instruments Inc. COM 922417100   1,797,487 85,068 SH   SOLE 0 59,180 0 25,888
VICI Properties Inc COM 925652109   5,290,866 162,197 SH   SOLE 0 111,159 0 51,038
Vipshop Holdings Ltd Sponsored ADR COM 92763W103   8,657,989 570,355 SH   SOLE 0 389,453 0 180,902
Vitesse Energy, Inc. COM 92852X103   1,561,640 82,062 SH   SOLE 0 56,071 0 25,991
WESCO International, Inc. COM 95082P105   3,042,893 19,690 SH   SOLE 0 13,347 0 6,343
Western Digital Corporation COM 958102105   1,452,442 38,557 SH   SOLE 0 26,189 0 12,368
Wells Fargo & Company COM 949746101   67,996,687 1,819,066 SH   SOLE 0 1,261,275 0 557,791
Wheaton Precious Metals Corp COM 962879102   7,789,976 161,752 SH   SOLE 0 110,284 0 51,468
WestRock Company COM 96145D105   6,930,950 227,468 SH   SOLE 0 155,658 0 71,810
Willis Towers Watson Public Limited Company COM G96629103   11,576,474 49,817 SH   SOLE 0 33,790 0 16,027
Yandex NV Class A COM N97284108   3 263,014 SH   SOLE 0 205,222 0 57,792