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
Alcoa Corporation COM 013872106 48,945 821,499 SH   SOLE 0 661,698 0 159,801
American Airlines Group, Inc. COM 02376R102 27,845 1,550,379 SH   SOLE 0 1,236,989 0 313,390
Advance Auto Parts, Inc. COM 00751Y106 5,874 24,486 SH   SOLE 0 19,989 0 4,497
Adient plc COM G0084W101 19,663 410,667 SH   SOLE 0 336,006 0 74,661
Alliance Data Systems Corporation COM 018581108 1,972 29,620 SH   SOLE 0 24,302 0 5,318
American International Group, Inc. COM 026874784 80,746 1,420,093 SH   SOLE 0 1,164,290 0 255,803
Applied Materials, Inc. COM 038222105 14,750 93,736 SH   SOLE 0 76,967 0 16,769
America Movil SAB de CV Sponsored ADR Class L COM 02364W105 5,089 241,083 SH   SOLE 0 197,545 0 43,538
Amazon.com, Inc. COM 023135106 215,022 64,487 SH   SOLE 0 52,850 0 11,637
Anthem, Inc. COM 036752103 33,761 72,834 SH   SOLE 0 59,651 0 13,183
APA Corp. COM 03743Q108 8,237 306,306 SH   SOLE 0 250,606 0 55,700
Altice USA, Inc. Class A COM 02156K103 8,004 494,658 SH   SOLE 0 405,513 0 89,145
Activision Blizzard, Inc. COM 00507V109 18,439 277,153 SH   SOLE 0 226,895 0 50,258
Broadcom Inc. COM 11135F101 16,900 25,398 SH   SOLE 0 20,796 0 4,602
American Express Company COM 025816109 90,186 551,257 SH   SOLE 0 451,082 0 100,175
Bank of America Corp COM 060505104 231,863 5,211,582 SH   SOLE 0 4,276,903 0 934,679
Credicorp Ltd. COM G2519Y108 17,356 142,177 SH   SOLE 0 116,543 0 25,634
Bio-Rad Laboratories, Inc. Class A COM 090572207 48,164 63,745 SH   SOLE 0 52,372 0 11,373
Booking Holdings Inc. COM 09857L108 87,546 36,489 SH   SOLE 0 29,898 0 6,591
TopBuild Corp. COM 89055F103 8,298 30,074 SH   SOLE 0 24,647 0 5,427
Bristol-Myers Squibb Company COM 110122108 8,305 133,197 SH   SOLE 0 108,946 0 24,251
Berkshire Hathaway Inc. Class B COM 084670702 79,040 264,348 SH   SOLE 0 216,682 0 47,666
Peabody Energy Corporation COM 704551100 13,953 1,385,589 SH   SOLE 0 999,285 0 386,304
Citigroup Inc. COM 172967424 92,288 1,528,198 SH   SOLE 0 1,251,500 0 276,698
Avis Budget Group, Inc. COM 053774105 13,928 67,166 SH   SOLE 0 54,989 0 12,177
CBRE Group, Inc. Class A COM 12504L109 153,330 1,413,048 SH   SOLE 0 1,157,930 0 255,118
Citizens Financial Group, Inc. COM 174610105 29,938 633,617 SH   SOLE 0 520,132 0 113,485
Charter Communications, Inc. Class A COM 16119P108 12,587 19,306 SH   SOLE 0 15,850 0 3,456
CME Group Inc. Class A COM 12572Q105 2,578 11,286 SH   SOLE 0 9,285 0 2,001
Centene Corporation COM 15135B101 4,645 56,366 SH   SOLE 0 46,254 0 10,112
Capital One Financial Corporation COM 14040H105 49,762 342,972 SH   SOLE 0 281,898 0 61,074
ConocoPhillips COM 20825C104 34,523 478,292 SH   SOLE 0 393,772 0 84,520
Costco Wholesale Corporation COM 22160K105 174,048 306,585 SH   SOLE 0 251,093 0 55,492
Copa Holdings, S.A. Class A COM P31076105 9,293 112,429 SH   SOLE 0 92,236 0 20,193
Cognizant Technology Solutions Corporation Class A COM 192446102 5,174 58,313 SH   SOLE 0 47,788 0 10,525
Corteva Inc COM 22052L104 3,235 68,422 SH   SOLE 0 56,020 0 12,402
Cemex SAB de CV Sponsored ADR COM 151290889 34,622 5,106,466 SH   SOLE 0 4,014,333 0 1,092,133
Caesars Entertainment Inc COM 12769G100 11,000 117,608 SH   SOLE 0 96,359 0 21,249
Delta Air Lines, Inc. COM 247361702 59,639 1,526,065 SH   SOLE 0 1,251,104 0 274,961
DuPont de Nemours, Inc. COM 26614N102 5,515 68,278 SH   SOLE 0 55,876 0 12,402
DHT Holdings, Inc. COM Y2065G121 19,066 3,673,624 SH   SOLE 0 3,012,608 0 661,016
Walt Disney Company COM 254687106 34,694 223,993 SH   SOLE 0 183,746 0 40,247
NOW Inc. COM 67011P100 2,808 328,840 SH   SOLE 0 270,192 0 58,648
Dow, Inc. COM 260557103 3,886 68,520 SH   SOLE 0 56,117 0 12,403
Diana Shipping Inc. COM Y2066G104 20,301 5,218,653 SH   SOLE 0 4,280,099 0 938,554
DXC Technology Co. COM 23355L106 18,991 589,977 SH   SOLE 0 484,228 0 105,749
eBay Inc. COM 278642103 14,545 218,721 SH   SOLE 0 179,297 0 39,424
EPAM Systems, Inc. COM 29414B104 47,930 71,703 SH   SOLE 0 59,150 0 12,553
Expedia Group, Inc. COM 30212P303 498 2,757 SH   SOLE 0 2,303 0 454
Ford Motor Company COM 345370860 21,358 1,028,320 SH   SOLE 0 844,034 0 184,286
Meta Platforms Inc. Class A COM 30303M102 25,478 75,749 SH   SOLE 0 62,093 0 13,656
FirstCash Holdings, Inc. COM 33768G107 15,184 202,969 SH   SOLE 0 166,409 0 36,560
Freeport-McMoRan, Inc. COM 35671D857 71,085 1,703,449 SH   SOLE 0 1,396,530 0 306,919
Franco-Nevada Corporation COM 351858105 8,304 60,047 SH   SOLE 0 49,164 0 10,883
Liberty Media Corp. Series A Liberty Formula One COM 531229870 1,867 31,460 SH   SOLE 0 25,925 0 5,535
Liberty Media Corp. Series C Liberty Formula One COM 531229854 13,319 210,607 SH   SOLE 0 172,978 0 37,629
Graco Inc. COM 384109104 15,318 190,003 SH   SOLE 0 155,510 0 34,493
Golar LNG Limited COM G9456A100 5,698 459,847 SH   SOLE 0 376,688 0 83,159
Corning Inc COM 219350105 13,369 359,091 SH   SOLE 0 294,284 0 64,807
Alphabet Inc. Class C COM 02079K107 178,193 61,582 SH   SOLE 0 50,534 0 11,048
Alphabet Inc. Class A COM 02079K305 21,380 7,380 SH   SOLE 0 6,053 0 1,327
Garmin Ltd. COM H2906T109 21,889 160,747 SH   SOLE 0 131,912 0 28,835
Ferroglobe PLC COM G33856108 20,772 3,345,000 SH   SOLE 0 2,634,760 0 710,240
Huntington Bancshares Incorporated COM 446150104 3,551 230,316 SH   SOLE 0 188,687 0 41,629
Hanesbrands Inc. COM 410345102 10,687 639,192 SH   SOLE 0 523,347 0 115,845
Warrior Met Coal, Inc. COM 93627C101 4,835 188,076 SH   SOLE 0 154,140 0 33,936
Hackett Group, Inc. COM 404609109 16,040 781,292 SH   SOLE 0 637,501 0 143,791
D-MARKET Elektronik Hizmetler ve Ticaret AS Sponso COM 23292B104 7,275 3,808,748 SH   SOLE 0 3,122,489 0 686,259
Hewlett Packard Enterprise Co. COM 42824C109 3,557 225,563 SH   SOLE 0 183,961 0 41,602
HP Inc. COM 40434L105 8,419 223,503 SH   SOLE 0 183,990 0 39,513
Hertz Global Holdings Inc Warrant 2021-30.06.51 on CONV BONDS 42806J148 682 42,768 PRN   SOLE 0 35,930 0 6,838
iShares MSCI India ETF COM 46429B598 7,333 159,961 SH   SOLE 0 159,961 0 0
Nifty India Financials ETF COM 301505640 1,045 30,182 SH   SOLE 0 30,182 0 0
International Seaways, Inc. COM Y41053102 8,515 580,027 SH   SOLE 0 475,463 0 104,564
Intel Corporation COM 458140100 13,960 271,072 SH   SOLE 0 221,845 0 49,227
Gartner, Inc. COM 366651107 39,187 117,213 SH   SOLE 0 96,036 0 21,177
Jefferies Financial Group Inc. COM 47233W109 31,248 805,368 SH   SOLE 0 660,062 0 145,306
JPMorgan Chase & Co. COM 46625H100 25,158 158,875 SH   SOLE 0 130,603 0 28,272
Jackson Financial Incorporation Class A COM 46817M107 430 10,282 SH   SOLE 0 8,477 0 1,805
KLA Corporation COM 482480100 38,297 89,040 SH   SOLE 0 72,974 0 16,066
Kroger Co. COM 501044101 30,410 671,885 SH   SOLE 0 551,255 0 120,630
KT Corporation Sponsored ADR COM 48268K101 271 21,564 SH   SOLE 0 21,564 0 0
Loews Corporation COM 540424108 9,645 166,985 SH   SOLE 0 136,941 0 30,044
Lazard Ltd Class A COM G54050102 21,590 494,834 SH   SOLE 0 405,934 0 88,900
Liberty Broadband Corp. Class A COM 530307107 568 3,532 SH   SOLE 0 2,973 0 559
Liberty Broadband Corp. Class C COM 530307305 11,360 70,515 SH   SOLE 0 57,754 0 12,761
Liberty Global Plc Class A COM G5480U104 17,551 632,679 SH   SOLE 0 516,369 0 116,310
Liberty Global Plc Class C COM G5480U120 18,858 671,336 SH   SOLE 0 548,601 0 122,735
Lear Corporation COM 521865204 6,834 37,354 SH   SOLE 0 30,617 0 6,737
Lions Gate Entertainment Corp Class B COM 535919500 263 17,082 SH   SOLE 0 14,191 0 2,891
Liberty Latin America Ltd. Class A COM G9001E102 1,870 160,341 SH   SOLE 0 130,304 0 30,037
Liberty Latin America Ltd. Class C COM G9001E128 3,610 316,678 SH   SOLE 0 258,051 0 58,627
LivaNova Plc COM G5509L101 16,003 183,041 SH   SOLE 0 149,856 0 33,185
Louisiana-Pacific Corporation COM 546347105 13,623 173,868 SH   SOLE 0 141,994 0 31,874
Lam Research Corporation COM 512807108 9,857 13,707 SH   SOLE 0 11,204 0 2,503
Liberty Media Corp. Series A Liberty SiriusXM COM 531229409 2,718 53,444 SH   SOLE 0 43,802 0 9,642
Liberty Media Corp. Series C Liberty SiriusXM COM 531229607 6,053 119,028 SH   SOLE 0 97,408 0 21,620
Liberty TripAdvisor Holdings Inc Class A COM 531465102 24 10,935 SH   SOLE 0 9,336 0 1,599
Lumen Technologies, Inc. COM 550241103 7,629 607,886 SH   SOLE 0 497,924 0 109,962
LyondellBasell Industries NV COM N53745100 8,728 94,633 SH   SOLE 0 77,676 0 16,957
Loyalty Ventures, Inc. COM 54911Q107 358 11,895 SH   SOLE 0 9,769 0 2,126
Masco Corporation COM 574599106 10,439 148,668 SH   SOLE 0 121,806 0 26,862
MBIA Inc. COM 55262C100 40,436 2,560,873 SH   SOLE 0 2,098,488 0 462,385
Microchip Technology Incorporated COM 595017104 5,804 66,666 SH   SOLE 0 54,666 0 12,000
McKesson Corporation COM 58155Q103 7,157 28,792 SH   SOLE 0 23,547 0 5,245
MGM Resorts International COM 552953101 61,825 1,377,565 SH   SOLE 0 1,129,318 0 248,247
Mohawk Industries, Inc. COM 608190104 10,023 55,018 SH   SOLE 0 45,220 0 9,798
Markel Corporation COM 570535104 21,936 17,776 SH   SOLE 0 14,572 0 3,204
Altria Group Inc COM 02209S103 5,900 124,494 SH   SOLE 0 73,699 0 50,795
Marathon Petroleum Corporation COM 56585A102 15,803 246,955 SH   SOLE 0 202,342 0 44,613
Morgan Stanley COM 617446448 24,218 246,723 SH   SOLE 0 201,813 0 44,910
Microsoft Corporation COM 594918104 59,998 178,395 SH   SOLE 0 146,092 0 32,303
Micron Technology, Inc. COM 595112103 78,896 846,980 SH   SOLE 0 693,703 0 153,277
Ingevity Corporation COM 45688C107 1,137 15,862 SH   SOLE 0 13,075 0 2,787
NVIDIA Corporation COM 67066G104 34,164 116,161 SH   SOLE 0 95,248 0 20,913
Petroleo Brasileiro SA Sponsored ADR COM 71654V408 20,662 1,881,763 SH   SOLE 0 1,543,584 0 338,179
Philip Morris International Inc. COM 718172109 11,232 118,231 SH   SOLE 0 70,662 0 47,569
PNC Financial Services Group, Inc. COM 693475105 20,456 102,013 SH   SOLE 0 83,623 0 18,390
PayPal Holdings, Inc. COM 70450Y103 78,860 418,176 SH   SOLE 0 342,729 0 75,447
Qurate Retail Inc Pfd Shr COM 74915M308 748 7,243 SH   SOLE 0 5,981 0 1,262
Qurate Retail, Inc. Class A COM 74915M100 3,524 463,742 SH   SOLE 0 380,839 0 82,903
RLX Technology, Inc. Sponsored ADR Class A COM 74969N103 1,321 338,840 SH   SOLE 0 204,324 0 134,516
Raytheon Technologies Corporation COM 75513E101 9,591 111,443 SH   SOLE 0 91,098 0 20,345
Rackspace Technology, Inc. COM 750102105 9,744 723,398 SH   SOLE 0 593,314 0 130,084
Ryanair Holdings Plc Sponsored ADR COM 783513203 39,477 385,786 SH   SOLE 0 293,048 0 92,738
Spirit Airlines, Inc. COM 848577102 2,643 120,956 SH   SOLE 0 98,706 0 22,250
Southern Copper Corporation COM 84265V105 12,385 200,691 SH   SOLE 0 164,291 0 36,400
Charles Schwab Corporation COM 808513105 72,448 861,454 SH   SOLE 0 706,637 0 154,817
Sherwin-Williams Company COM 824348106 54,128 153,703 SH   SOLE 0 125,808 0 27,895
SL Green Realty Corp. COM 78440X804 23,175 323,226 SH   SOLE 0 265,143 0 58,083
Scotts Miracle-Gro Company Class A COM 810186106 11,385 70,712 SH   SOLE 0 57,910 0 12,802
Spectrum Brands Holdings, Inc. COM 84790A105 1,009 9,921 SH   SOLE 0 8,187 0 1,734
Spotify Technology SA COM L8681T102 4,221 18,036 SH   SOLE 0 14,789 0 3,247
Steel Dynamics, Inc. COM 858119100 9,394 151,350 SH   SOLE 0 123,942 0 27,408
Scorpio Tankers Inc. COM Y7542C130 9,105 710,789 SH   SOLE 0 583,391 0 127,398
Seagate Technology Holdings PLC COM G7997R103 29,735 263,192 SH   SOLE 0 215,437 0 47,755
Synchrony Financial COM 87165B103 53,071 1,144,021 SH   SOLE 0 937,961 0 206,060
Thor Industries, Inc. COM 885160101 5,602 53,980 SH   SOLE 0 44,163 0 9,817
Tencent Music Entertainment Group Sponsored ADR Cl COM 88034P109 2,486 362,848 SH   SOLE 0 297,437 0 65,411
Tractor Supply Company COM 892356106 58,571 245,477 SH   SOLE 0 200,976 0 44,501
Taiwan Semiconductor Manufacturing Co., Ltd. Spons COM 874039100 120,402 1,000,767 SH   SOLE 0 820,251 0 180,516
Texas Instruments Incorporated COM 882508104 14,316 75,960 SH   SOLE 0 62,261 0 13,699
United Airlines Holdings, Inc. COM 910047109 3,932 89,808 SH   SOLE 0 73,843 0 15,965
Uber Technologies, Inc. COM 90353T100 10,569 252,063 SH   SOLE 0 206,716 0 45,347
Net 1 UEPS Technologies, Inc. COM 64107N206 2,005 376,929 SH   SOLE 0 309,319 0 67,610
Union Pacific Corporation COM 907818108 31,759 126,064 SH   SOLE 0 103,281 0 22,783
Visa Inc. Class A COM 92826C839 9,535 44,000 SH   SOLE 0 36,100 0 7,900
Marriott Vacations Worldwide Corporation COM 57164Y107 4,470 26,454 SH   SOLE 0 21,689 0 4,765
Veeco Instruments Inc. COM 922417100 1,894 66,524 SH   SOLE 0 54,484 0 12,040
VICI Properties Inc COM 925652109 3,850 127,873 SH   SOLE 0 104,589 0 23,284
Vipshop Holdings Ltd Sponsored ADR COM 92763W103 8,382 997,831 SH   SOLE 0 816,367 0 181,464
Venator Materials PLC COM G9329Z100 1,196 470,702 SH   SOLE 0 386,847 0 83,855
Western Digital Corporation COM 958102105 8,435 129,352 SH   SOLE 0 105,741 0 23,611
Wells Fargo & Company COM 949746101 147,254 3,069,080 SH   SOLE 0 2,516,144 0 552,936
Willis Towers Watson Public Limited Company COM G96629103 26,940 113,436 SH   SOLE 0 92,696 0 20,740
Wheaton Precious Metals Corp COM 962879102 7,992 186,165 SH   SOLE 0 152,629 0 33,536
WestRock Company COM 96145D105 3,925 88,472 SH   SOLE 0 72,928 0 15,544
Yandex NV Class A COM N97284108 20,479 338,504 SH   SOLE 0 277,214 0 61,290