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
iShares Trust - iShares Russel RUS 2000 VAL ETF 464287630 1,994 12,010 SH   SOLE NONE 12,010 0 0
Adient PLC ORD SHS G0084W101 44,770 935,044 SH   SOLE NONE 771,014 0 164,030
Alaska Air Group, Inc. COM 011659109 22,893 439,396 SH   SOLE NONE 363,796 0 75,600
Ally Financial Inc. COM 02005N100 39,322 825,911 SH   SOLE NONE 680,851 0 145,060
Beazer Homes USA, Inc. COM NEW 07556Q881 35,679 1,536,581 SH   SOLE NONE 1,268,171 0 268,410
CVR Energy, Inc. COM 12662P108 16,798 999,299 SH   SOLE NONE 818,979 0 180,320
Celestica Inc. SUB VTG SHS 15101Q108 23,476 2,109,271 SH   SOLE NONE 2,109,271 0 0
Cooper-Standard Holdings Inc. COM 21676P103 19,342 863,110 SH   SOLE NONE 863,110 0 0
DXC Technology Company COM 23355L106 39,518 1,227,654 SH   SOLE NONE 1,011,414 0 216,240
Dana Incorporated COM 235825205 33,547 1,470,052 SH   SOLE NONE 1,211,892 0 258,160
Delek US Holdings, Inc. COM 24665A103 10,727 715,605 SH   SOLE NONE 591,755 0 123,850
Designer Brands Inc. CL A 250565108 36,683 2,581,469 SH   SOLE NONE 2,133,249 0 448,220
Fluor Corporation COM 343412102 30,136 1,216,638 SH   SOLE NONE 1,013,688 0 202,950
Foot Locker, Inc. COM 344849104 27,948 640,567 SH   SOLE NONE 527,477 0 113,090
Hawaiian Holdings, Inc. COM 419879101 24,339 1,324,940 SH   SOLE NONE 1,090,670 0 234,270
HollyFrontier Corporation COM 436106108 37,277 1,137,194 SH   SOLE NONE 935,324 0 201,870
Hooker Furnishings Corporation COM 439038100 16,530 710,064 SH   SOLE NONE 710,064 0 0
Liberty Oilfield Services Inc. COM CL A 53115L104 28,202 2,907,430 SH   SOLE NONE 2,388,460 0 518,970
M/I Homes, Inc. COM 55305B101 22,350 359,448 SH   SOLE NONE 296,298 0 63,150
Meritor, Inc. COM 59001K100 29,293 1,182,134 SH   SOLE NONE 975,873 0 206,261
Nautilus, Inc. COM 63910B102 7,880 1,285,415 SH   SOLE NONE 1,062,055 0 223,360
Pactiv Evergreen Inc. COM 69526K105 19,441 1,533,192 SH   SOLE NONE 1,262,342 0 270,850
ProPetro Holding Corp. COM 74347M108 35,810 4,420,995 SH   SOLE NONE 3,643,455 0 777,540
Ryerson Holding Corporation COM 783754104 32,390 1,243,395 SH   SOLE NONE 1,243,395 0 0
Sterling Construction Company, COM 859241101 21,814 829,418 SH   SOLE NONE 829,418 0 0
Taylor Morrison Home Corporati COM 87724P106 41,391 1,183,950 SH   SOLE NONE 978,980 0 204,970
Tenneco Inc. CL A VTG COM STK 880349105 21,366 1,890,775 SH   SOLE NONE 1,554,675 0 336,100
The Gap, Inc. COM 364760108 7,084 401,365 SH   SOLE NONE 331,595 0 69,770
The Greenbrier Companies, Inc. COM 393657101 18,542 404,058 SH   SOLE NONE 334,128 0 69,930
The Manitowoc Company, Inc. COM NEW 563571405 14,064 756,547 SH   SOLE NONE 627,647 0 128,900
U.S. Xpress Enterprises, Inc. COM CL A 90338N202 8,745 1,489,740 SH   SOLE NONE 1,489,740 0 0
United Natural Foods, Inc. COM 911163103 21,746 443,070 SH   SOLE NONE 366,270 0 76,800
Wabash National Corporation COM 929566107 28,311 1,450,342 SH   SOLE NONE 1,198,572 0 251,770