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 30,492 668,987 SH   SOLE 0 525,408 0 143,579
American Airlines Group, Inc. COM 02376R102 21,045 1,659,676 SH   SOLE 0 1,315,615 0 344,061
Advance Auto Parts, Inc. COM 00751Y106 3,486 20,140 SH   SOLE 0 15,920 0 4,220
Adobe Incorporated COM 00724F101 2,428 6,634 SH   SOLE 0 5,243 0 1,391
Adient plc COM G0084W101 9,989 337,127 SH   SOLE 0 266,711 0 70,416
American International Group, Inc. COM 026874784 61,212 1,197,179 SH   SOLE 0 949,347 0 247,832
Applied Materials, Inc. COM 038222105 6,985 76,778 SH   SOLE 0 60,969 0 15,809
America Movil SAB de CV Sponsored ADR Class L COM 02364W105 4,042 197,848 SH   SOLE 0 156,868 0 40,980
Amazon.com, Inc. COM 023135106 112,502 1,059,242 SH   SOLE 0 839,782 0 219,460
APA Corp. COM 03743Q108 6,499 186,225 SH   SOLE 0 147,137 0 39,088
Altice USA, Inc. Class A COM 02156K103 1,875 202,652 SH   SOLE 0 160,628 0 42,024
Broadcom Inc. COM 11135F101 10,109 20,808 SH   SOLE 0 16,470 0 4,338
American Express Company COM 025816109 62,764 452,779 SH   SOLE 0 358,292 0 94,487
Bank of America Corp COM 060505104 129,889 4,172,460 SH   SOLE 0 3,310,677 0 861,783
Credicorp Ltd. COM G2519Y108 14,017 116,892 SH   SOLE 0 92,709 0 24,183
Liberty Media Corp. Series A Liberty Braves COM 531229706 36 1,413 SH   SOLE 0 1,202 0 211
Liberty Media Corp. Series C Liberty Braves COM 531229888 90 3,744 SH   SOLE 0 3,143 0 601
Bread Financial Holdings, Inc. COM 018581108 910 24,563 SH   SOLE 0 19,538 0 5,025
Bio-Rad Laboratories, Inc. Class A COM 090572207 25,772 52,064 SH   SOLE 0 41,339 0 10,725
Booking Holdings Inc. COM 09857L108 52,538 30,039 SH   SOLE 0 23,823 0 6,216
TopBuild Corp. COM 89055F103 4,190 25,067 SH   SOLE 0 19,924 0 5,143
Bristol-Myers Squibb Company COM 110122108 8,449 109,727 SH   SOLE 0 86,810 0 22,917
Berkshire Hathaway Inc. Class B COM 084670702 50,369 184,490 SH   SOLE 0 146,217 0 38,273
Peabody Energy Corporation COM 704551100 25,731 1,206,334 SH   SOLE 0 859,912 0 346,422
Citigroup Inc. COM 172967424 57,684 1,254,277 SH   SOLE 0 993,198 0 261,079
Avis Budget Group, Inc. COM 053774105 6,569 44,666 SH   SOLE 0 35,295 0 9,371
CBRE Group, Inc. Class A COM 12504L109 80,093 1,088,075 SH   SOLE 0 862,348 0 225,727
Citizens Financial Group, Inc. COM 174610105 18,538 519,420 SH   SOLE 0 412,440 0 106,980
Charter Communications, Inc. Class A COM 16119P108 7,436 15,870 SH   SOLE 0 12,609 0 3,261
CME Group Inc. Class A COM 12572Q105 1,910 9,330 SH   SOLE 0 7,443 0 1,887
Centene Corporation COM 15135B101 3,936 46,517 SH   SOLE 0 36,980 0 9,537
Capital One Financial Corp COM 14040H105 29,333 281,532 SH   SOLE 0 223,947 0 57,585
ConocoPhillips COM 20825C104 39,461 439,379 SH   SOLE 0 351,151 0 88,228
Costco Wholesale Corporation COM 22160K105 117,694 245,564 SH   SOLE 0 194,362 0 51,202
Copa Holdings, S.A. Class A COM P31076105 4,119 64,997 SH   SOLE 0 51,592 0 13,405
Cognizant Technology Solutions Corporation Class A COM 192446102 3,265 48,378 SH   SOLE 0 38,432 0 9,946
Corteva Inc COM 22052L104 3,056 56,449 SH   SOLE 0 44,756 0 11,693
Cemex SAB de CV Sponsored ADR COM 151290889 15,959 4,071,064 SH   SOLE 0 3,041,222 0 1,029,842
Caesars Entertainment Inc COM 12769G100 3,699 96,589 SH   SOLE 0 76,547 0 20,042
Delta Air Lines, Inc. COM 247361702 31,944 1,102,663 SH   SOLE 0 860,524 0 242,139
DuPont de Nemours, Inc. COM 26614N102 3,126 56,249 SH   SOLE 0 44,556 0 11,693
DHT Holdings, Inc. COM Y2065G121 18,528 3,022,486 SH   SOLE 0 2,399,387 0 623,099
Walt Disney Company COM 254687106 17,340 183,686 SH   SOLE 0 145,733 0 37,953
NOW Inc. COM 67011P100 2,649 270,895 SH   SOLE 0 215,734 0 55,161
Dow, Inc. COM 260557103 2,912 56,429 SH   SOLE 0 44,735 0 11,694
Diana Shipping Inc. COM Y2066G104 20,599 4,300,316 SH   SOLE 0 3,415,473 0 884,843
DXC Technology Co. COM 23355L106 14,668 483,928 SH   SOLE 0 384,238 0 99,690
eBay Inc. COM 278642103 7,462 179,065 SH   SOLE 0 141,864 0 37,201
Elevance Health, Inc. COM 036752103 28,834 59,750 SH   SOLE 0 47,300 0 12,450
EPAM Systems, Inc. COM 29414B104 17,549 59,533 SH   SOLE 0 47,691 0 11,842
FirstCash Holdings, Inc. COM 33768G107 11,587 166,690 SH   SOLE 0 132,190 0 34,500
Freeport-McMoRan, Inc. COM 35671D857 40,280 1,376,607 SH   SOLE 0 1,091,649 0 284,958
Franco-Nevada Corporation COM 351858105 6,528 49,609 SH   SOLE 0 39,343 0 10,266
Liberty Media Corp. Series A Liberty Formula One COM 531229870 1,509 26,027 SH   SOLE 0 20,869 0 5,158
Liberty Media Corp. Series C Liberty Formula One COM 531229854 10,999 173,292 SH   SOLE 0 137,750 0 35,542
Graco Inc. COM 384109104 9,819 165,275 SH   SOLE 0 122,881 0 42,394
Golar LNG Limited COM G9456A100 8,626 379,183 SH   SOLE 0 300,769 0 78,414
Corning Inc COM 219350105 17,653 560,221 SH   SOLE 0 444,323 0 115,898
Alphabet Inc. Class C COM 02079K107 101,946 46,605 SH   SOLE 0 36,946 0 9,659
Alphabet Inc. Class A COM 02079K305 13,317 6,111 SH   SOLE 0 4,860 0 1,251
Garmin Ltd. COM H2906T109 13,471 137,114 SH   SOLE 0 105,749 0 31,365
Ferroglobe PLC COM G33856108 14,845 2,499,157 SH   SOLE 0 1,839,853 0 659,304
Huntington Bancshares Incorporated COM 446150104 2,284 189,859 SH   SOLE 0 150,671 0 39,188
Hanesbrands Inc. COM 410345102 5,383 523,163 SH   SOLE 0 413,967 0 109,196
Warrior Met Coal, Inc. COM 93627C101 4,740 154,841 SH   SOLE 0 122,840 0 32,001
Hackett Group, Inc. COM 404609109 12,313 649,068 SH   SOLE 0 513,362 0 135,706
D-MARKET Elektronik Hizmetler ve Ticaret AS Sponso COM 23292B104 3,796 6,243,414 SH   SOLE 0 4,952,814 0 1,290,600
Hewlett Packard Enterprise Co. COM 42824C109 2,476 186,690 SH   SOLE 0 147,432 0 39,258
HP Inc. COM 40434L105 6,039 184,228 SH   SOLE 0 146,896 0 37,332
Hertz Global Holdings Inc COM 42806J700 79 4,971 SH   SOLE 0 4,055 0 916
Hertz Global Holdings Inc Warrant 2021-30.06.51 on CONV BONDS 42806J148 344 35,090 PRN   SOLE 0 28,556 0 6,534
iHeartMedia, Inc. Class A COM 45174J509 6 793 SH   SOLE 0 776 0 17
iShares MSCI India ETF COM 46429B598 6,014 152,762 SH   SOLE 0 152,762 0 0
Nifty India Financials ETF COM 301505640 932 31,965 SH   SOLE 0 31,965 0 0
International Seaways, Inc. COM Y41053102 10,138 478,211 SH   SOLE 0 379,646 0 98,565
Intel Corporation COM 458140100 8,333 222,760 SH   SOLE 0 176,303 0 46,457
Gartner, Inc. COM 366651107 23,283 96,277 SH   SOLE 0 76,263 0 20,014
Jefferies Financial Group Inc. COM 47233W109 18,239 660,363 SH   SOLE 0 523,377 0 136,986
JPMorgan Chase & Co. COM 46625H100 14,627 129,892 SH   SOLE 0 103,263 0 26,629
Jackson Financial Incorporation Class A COM 46817M107 225 8,412 SH   SOLE 0 6,711 0 1,701
KLA Corporation COM 482480100 35,664 111,771 SH   SOLE 0 88,503 0 23,268
Kroger Co. COM 501044101 23,582 498,244 SH   SOLE 0 395,127 0 103,117
KT Corporation Sponsored ADR COM 48268K101 301 21,564 SH   SOLE 0 21,564 0 0
Loews Corporation COM 540424108 8,117 136,970 SH   SOLE 0 108,649 0 28,321
Lazard Ltd Class A COM G54050102 11,191 345,291 SH   SOLE 0 273,838 0 71,453
Liberty Broadband Corp. Class A COM 530307107 341 3,006 SH   SOLE 0 2,489 0 517
Liberty Broadband Corp. Class C COM 530307305 1,398 12,086 SH   SOLE 0 9,707 0 2,379
Liberty Global Plc Class A COM G5480U104 10,957 520,504 SH   SOLE 0 410,700 0 109,804
Liberty Global Plc Class C COM G5480U120 3,686 166,881 SH   SOLE 0 131,260 0 35,621
Lear Corporation COM 521865204 3,875 30,784 SH   SOLE 0 24,430 0 6,354
Lions Gate Entertainment Corp Class B COM 535919500 121 13,735 SH   SOLE 0 11,011 0 2,724
Liberty Latin America Ltd. Class A COM G9001E102 1,034 132,538 SH   SOLE 0 104,168 0 28,370
Liberty Latin America Ltd. Class C COM G9001E128 1,427 183,237 SH   SOLE 0 143,970 0 39,267
LivaNova Plc COM G5509L101 9,399 150,462 SH   SOLE 0 119,189 0 31,273
Louisiana-Pacific Corporation COM 546347105 7,496 143,031 SH   SOLE 0 112,973 0 30,058
Lam Research Corporation COM 512807108 4,796 11,255 SH   SOLE 0 8,896 0 2,359
Lesaka Technologies, Inc. COM 64107N206 3,033 590,022 SH   SOLE 0 467,482 0 122,540
Liberty Media Corp. Series A Liberty SiriusXM COM 531229409 1,593 44,214 SH   SOLE 0 35,115 0 9,099
Liberty Media Corp. Series C Liberty SiriusXM COM 531229607 3,541 98,224 SH   SOLE 0 77,774 0 20,450
Liberty TripAdvisor Holdings Inc Class A COM 531465102 7 9,244 SH   SOLE 0 7,776 0 1,468
Lumen Technologies, Inc. COM 550241103 5,476 501,914 SH   SOLE 0 398,179 0 103,735
LyondellBasell Industries NV COM N53745100 6,851 78,333 SH   SOLE 0 62,346 0 15,987
Loyalty Ventures, Inc. COM 54911Q107 35 9,840 SH   SOLE 0 7,831 0 2,009
Masco Corporation COM 574599106 6,191 122,343 SH   SOLE 0 97,007 0 25,336
MBIA Inc. COM 55262C100 24,515 1,985,035 SH   SOLE 0 1,573,014 0 412,021
Microchip Technology Incorporated COM 595017104 3,191 54,944 SH   SOLE 0 43,629 0 11,315
McKesson Corporation COM 58155Q103 7,722 23,673 SH   SOLE 0 18,728 0 4,945
Meta Platforms Inc. Class A COM 30303M102 11,825 73,334 SH   SOLE 0 58,117 0 15,217
MGM Resorts International COM 552953101 32,515 1,123,158 SH   SOLE 0 890,214 0 232,944
Mohawk Industries, Inc. COM 608190104 5,639 45,441 SH   SOLE 0 36,197 0 9,244
Markel Corporation COM 570535104 18,888 14,605 SH   SOLE 0 11,583 0 3,022
Altria Group Inc COM 02209S103 4,577 109,588 SH   SOLE 0 61,668 0 47,920
Marathon Petroleum Corporation COM 56585A102 16,673 202,815 SH   SOLE 0 160,744 0 42,071
Morgan Stanley COM 617446448 15,376 202,153 SH   SOLE 0 159,806 0 42,347
Microsoft Corporation COM 594918104 37,640 146,555 SH   SOLE 0 116,092 0 30,463
Micron Technology, Inc. COM 595112103 38,406 694,761 SH   SOLE 0 550,197 0 144,564
Noble Corporation COM G6610J209 2,569 101,347 SH   SOLE 0 80,113 0 21,234
Ingevity Corporation COM 45688C107 832 13,177 SH   SOLE 0 10,569 0 2,608
NVIDIA Corporation COM 67066G104 14,456 95,361 SH   SOLE 0 75,635 0 19,726
Petroleo Brasileiro SA Sponsored ADR COM 71654V408 14,380 1,231,197 SH   SOLE 0 912,391 0 318,806
Permian Basin Royalty Trust COM 714236106 3,490 210,871 SH   SOLE 0 167,077 0 43,794
Philip Morris International Inc. COM 718172109 10,288 104,197 SH   SOLE 0 59,348 0 44,849
PNC Financial Services Group, Inc. COM 693475105 11,967 75,849 SH   SOLE 0 60,062 0 15,787
PayPal Holdings, Inc. COM 70450Y103 26,359 377,415 SH   SOLE 0 298,845 0 78,570
Qurate Retail Inc Pfd Shr COM 74915M308 349 5,978 SH   SOLE 0 4,789 0 1,189
Qurate Retail, Inc. Class A COM 74915M100 567 197,618 SH   SOLE 0 157,980 0 39,638
RLX Technology, Inc. Sponsored ADR Class A COM 74969N103 1,190 558,676 SH   SOLE 0 323,570 0 235,106
Raytheon Technologies Corporation COM 75513E101 7,369 76,672 SH   SOLE 0 72,743 0 3,929
Rackspace Technology, Inc. COM 750102105 4,275 596,176 SH   SOLE 0 473,547 0 122,629
Ryanair Holdings Plc Sponsored ADR COM 783513203 19,774 294,032 SH   SOLE 0 211,507 0 82,525
Spirit Airlines, Inc. COM 848577102 2,382 99,935 SH   SOLE 0 79,020 0 20,915
Southern Copper Corporation COM 84265V105 8,218 164,989 SH   SOLE 0 130,684 0 34,305
Charles Schwab Corp COM 808513105 47,672 754,547 SH   SOLE 0 598,376 0 156,171
Sherwin-Williams Company COM 824348106 28,291 126,348 SH   SOLE 0 99,999 0 26,349
SL Green Realty Corp. COM 78440X887 12,297 266,468 SH   SOLE 0 211,388 0 55,080
Scotts Miracle-Gro Company Class A COM 810186106 4,572 57,884 SH   SOLE 0 45,809 0 12,075
Spotify Technology SA COM L8681T102 1,397 14,884 SH   SOLE 0 11,821 0 3,063
Steel Dynamics, Inc. COM 858119100 8,221 124,276 SH   SOLE 0 98,433 0 25,843
Scorpio Tankers Inc. COM Y7542C130 20,143 583,678 SH   SOLE 0 463,574 0 120,104
Seagate Technology Holdings PLC COM G7997R103 15,375 215,209 SH   SOLE 0 170,222 0 44,987
Synchrony Financial COM 87165B103 25,885 937,197 SH   SOLE 0 742,897 0 194,300
Thor Industries, Inc. COM 885160101 3,325 44,489 SH   SOLE 0 35,235 0 9,254
Tencent Music Entertainment Group Shs -A- Sponsore COM 88034P109 1,503 299,412 SH   SOLE 0 237,709 0 61,703
Texas Pacific Land Corporation COM 88262P102 2,952 1,984 SH   SOLE 0 1,572 0 412
Tractor Supply Company COM 892356106 39,039 201,389 SH   SOLE 0 159,391 0 41,998
Taiwan Semiconductor Manufacturing Co., Ltd. Spons COM 874039100 63,788 780,285 SH   SOLE 0 618,100 0 162,185
Texas Instruments Incorporated COM 882508104 9,606 62,519 SH   SOLE 0 49,598 0 12,921
United Airlines Holdings, Inc. COM 910047109 2,612 73,747 SH   SOLE 0 58,692 0 15,055
Uber Technologies, Inc. COM 90353T100 4,235 206,996 SH   SOLE 0 164,209 0 42,787
Union Pacific Corporation COM 907818108 22,043 103,353 SH   SOLE 0 81,872 0 21,481
Visa Inc. Class A COM 92826C839 8,948 45,448 SH   SOLE 0 36,050 0 9,398
Marriott Vacations Worldwide Corporation COM 57164Y107 2,540 21,858 SH   SOLE 0 17,365 0 4,493
Valaris Ltd. COM G9460G101 4,237 100,302 SH   SOLE 0 79,350 0 20,952
Veeco Instruments Inc. COM 922417100 1,066 54,930 SH   SOLE 0 43,599 0 11,331
VICI Properties Inc COM 925652109 3,144 105,548 SH   SOLE 0 83,596 0 21,952
Vipshop Holdings Ltd Sponsored ADR COM 92763W103 8,124 821,409 SH   SOLE 0 650,342 0 171,067
Venator Materials PLC COM G9329Z100 809 388,809 SH   SOLE 0 309,756 0 79,053
Western Digital Corporation COM 958102105 4,775 106,512 SH   SOLE 0 84,241 0 22,271
Wells Fargo & Company COM 949746101 90,968 2,322,400 SH   SOLE 0 1,842,007 0 480,393
Wheaton Precious Metals Corp COM 962879102 5,507 152,845 SH   SOLE 0 121,208 0 31,637
WestRock Company COM 96145D105 8,385 210,473 SH   SOLE 0 162,151 0 48,322
Willis Towers Watson Public Limited Company COM G96629103 13,150 66,619 SH   SOLE 0 52,512 0 14,107
Yandex NV Class A COM N97284108 0 331,552 SH   SOLE 0 273,760 0 57,792