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 21,017 624,398 SH   SOLE 0 480,819 0 143,579
American Airlines Group, Inc. COM 02376R102 18,677 1,551,281 SH   SOLE 0 1,207,220 0 344,061
Advance Auto Parts, Inc. COM 00751Y106 2,925 18,708 SH   SOLE 0 14,488 0 4,220
Adobe Incorporated COM 00724F101 10,961 39,829 SH   SOLE 0 30,926 0 8,903
Adient plc COM G0084W101 8,727 314,476 SH   SOLE 0 244,060 0 70,416
American International Group, Inc. COM 026874784 53,214 1,120,765 SH   SOLE 0 872,933 0 247,832
Applied Materials, Inc. COM 038222105 5,893 71,925 SH   SOLE 0 56,116 0 15,809
America Movil SAB de CV Sponsored ADR Class L COM 02364W105 3,060 185,803 SH   SOLE 0 144,823 0 40,980
Amazon.com, Inc. COM 023135106 111,813 989,495 SH   SOLE 0 770,035 0 219,460
APA Corp. COM 03743Q108 5,914 172,963 SH   SOLE 0 133,875 0 39,088
Altice USA, Inc. Class A COM 02156K103 1,114 191,036 SH   SOLE 0 149,012 0 42,024
Broadcom Inc. COM 11135F101 8,697 19,587 SH   SOLE 0 15,249 0 4,338
American Express Company COM 025816109 57,017 422,632 SH   SOLE 0 328,145 0 94,487
Bank of America Corp COM 060505104 119,082 3,943,127 SH   SOLE 0 3,081,344 0 861,783
Credicorp Ltd. COM G2519Y108 13,442 109,459 SH   SOLE 0 85,276 0 24,183
Bread Financial Holdings, Inc. COM 018581108 723 22,990 SH   SOLE 0 17,965 0 5,025
Bio-Rad Laboratories, Inc. Class A COM 090572207 20,339 48,758 SH   SOLE 0 38,033 0 10,725
Booking Holdings Inc. COM 09857L108 46,156 28,089 SH   SOLE 0 21,873 0 6,216
TopBuild Corp. COM 89055F103 3,922 23,800 SH   SOLE 0 18,657 0 5,143
Bristol-Myers Squibb Company COM 110122108 7,271 102,277 SH   SOLE 0 79,360 0 22,917
Berkshire Hathaway Inc. Class B COM 084670702 46,870 175,531 SH   SOLE 0 137,258 0 38,273
Peabody Energy Corporation COM 704551100 27,218 1,096,635 SH   SOLE 0 750,213 0 346,422
Citigroup Inc. COM 172967424 48,940 1,174,465 SH   SOLE 0 913,386 0 261,079
Avis Budget Group, Inc. COM 053774105 6,158 41,480 SH   SOLE 0 32,109 0 9,371
CBRE Group, Inc. Class A COM 12504L109 68,677 1,017,281 SH   SOLE 0 791,554 0 225,727
Citizens Financial Group, Inc. COM 174610105 16,719 486,588 SH   SOLE 0 379,608 0 106,980
Charter Communications, Inc. Class A COM 16119P108 4,479 14,765 SH   SOLE 0 11,504 0 3,261
CME Group Inc. Class A COM 12572Q105 1,560 8,806 SH   SOLE 0 6,919 0 1,887
Centene Corporation COM 15135B101 3,409 43,808 SH   SOLE 0 34,271 0 9,537
Capital One Financial Corp COM 14040H105 24,293 263,570 SH   SOLE 0 205,985 0 57,585
ConocoPhillips COM 20825C104 41,017 400,791 SH   SOLE 0 312,563 0 88,228
Costco Wholesale Corporation COM 22160K105 108,317 229,354 SH   SOLE 0 178,152 0 51,202
Copa Holdings, S.A. Class A COM P31076105 4,095 61,104 SH   SOLE 0 47,699 0 13,405
Corteva Inc COM 22052L104 3,026 52,955 SH   SOLE 0 41,262 0 11,693
Cemex SAB de CV Sponsored ADR COM 151290889 12,842 3,744,033 SH   SOLE 0 2,714,191 0 1,029,842
Caesars Entertainment Inc COM 12769G100 2,937 91,050 SH   SOLE 0 71,008 0 20,042
Delta Air Lines, Inc. COM 247361702 23,115 823,777 SH   SOLE 0 640,774 0 183,003
DuPont de Nemours, Inc. COM 26614N102 2,657 52,718 SH   SOLE 0 41,025 0 11,693
DHT Holdings, Inc. COM Y2065G121 21,448 2,836,995 SH   SOLE 0 2,213,896 0 623,099
Walt Disney Company COM 254687106 16,226 172,017 SH   SOLE 0 134,064 0 37,953
NOW Inc. COM 67011P100 2,559 254,617 SH   SOLE 0 199,456 0 55,161
Dow, Inc. COM 260557103 2,325 52,920 SH   SOLE 0 41,226 0 11,694
Diana Shipping Inc. COM Y2066G104 12,279 3,401,358 SH   SOLE 0 2,654,055 0 747,303
DXC Technology Co. COM 23355L106 10,711 437,543 SH   SOLE 0 341,211 0 96,332
eBay Inc. COM 278642103 6,147 166,990 SH   SOLE 0 129,789 0 37,201
Elevance Health, Inc. COM 036752103 25,541 56,228 SH   SOLE 0 43,778 0 12,450
EPAM Systems, Inc. COM 29414B104 20,253 55,918 SH   SOLE 0 44,076 0 11,842
FirstCash Holdings, Inc. COM 33768G107 11,450 156,106 SH   SOLE 0 121,606 0 34,500
Freeport-McMoRan, Inc. COM 35671D857 35,257 1,290,043 SH   SOLE 0 1,005,085 0 284,958
Franco-Nevada Corporation COM 351858105 5,551 46,457 SH   SOLE 0 36,191 0 10,266
Liberty Media Corp. Series A Liberty Formula One COM 531229870 1,242 23,654 SH   SOLE 0 18,496 0 5,158
Liberty Media Corp. Series C Liberty Formula One COM 531229854 9,459 161,686 SH   SOLE 0 126,144 0 35,542
Graco Inc. COM 384109104 8,643 144,174 SH   SOLE 0 111,837 0 32,337
Golar LNG Limited COM G9456A100 8,899 357,100 SH   SOLE 0 278,686 0 78,414
Corning Inc COM 219350105 15,242 525,224 SH   SOLE 0 409,326 0 115,898
Alphabet Inc. Class C COM 02079K107 84,714 881,056 SH   SOLE 0 687,876 0 193,180
Alphabet Inc. Class A COM 02079K305 10,992 114,921 SH   SOLE 0 89,901 0 25,020
Garmin Ltd. COM H2906T109 9,908 123,378 SH   SOLE 0 96,562 0 26,816
Ferroglobe PLC COM G33856108 13,690 2,592,838 SH   SOLE 0 1,865,843 0 726,995
Huntington Bancshares Incorporated COM 446150104 2,333 176,980 SH   SOLE 0 137,792 0 39,188
Hanesbrands Inc. COM 410345102 3,384 486,136 SH   SOLE 0 376,940 0 109,196
Warrior Met Coal, Inc. COM 93627C101 4,142 145,649 SH   SOLE 0 113,648 0 32,001
Hackett Group, Inc. COM 404609109 10,679 602,667 SH   SOLE 0 466,961 0 135,706
D-MARKET Elektronik Hizmetler ve Ticaret AS Sponso COM 23292B104 5,791 6,012,109 SH   SOLE 0 4,721,509 0 1,290,600
Hewlett Packard Enterprise Co. COM 42824C109 2,086 174,111 SH   SOLE 0 134,853 0 39,258
HP Inc. COM 40434L105 4,283 171,873 SH   SOLE 0 134,541 0 37,332
iShares MSCI India ETF COM 46429B598 6,198 151,986 SH   SOLE 0 151,986 0 0
International Seaways, Inc. COM Y41053102 15,824 450,435 SH   SOLE 0 351,870 0 98,565
Intel Corporation COM 458140100 5,333 206,947 SH   SOLE 0 160,490 0 46,457
Gartner, Inc. COM 366651107 24,808 89,659 SH   SOLE 0 69,645 0 20,014
Jefferies Financial Group Inc. COM 47233W109 18,282 619,729 SH   SOLE 0 482,743 0 136,986
JPMorgan Chase & Co. COM 46625H100 12,785 122,348 SH   SOLE 0 95,719 0 26,629
Jackson Financial Incorporation Class A COM 46817M107 220 7,930 SH   SOLE 0 6,229 0 1,701
KLA Corporation COM 482480100 32,620 107,790 SH   SOLE 0 83,760 0 24,030
Kroger Co. COM 501044101 14,311 327,099 SH   SOLE 0 254,992 0 72,107
KT Corporation Sponsored ADR COM 48268K101 264 21,564 SH   SOLE 0 21,564 0 0
Loews Corporation COM 540424108 6,396 128,321 SH   SOLE 0 100,000 0 28,321
Lazard Ltd Class A COM G54050102 10,275 322,821 SH   SOLE 0 251,368 0 71,453
Liberty Broadband Corp. Class A COM 530307107 213 2,851 SH   SOLE 0 2,334 0 517
Liberty Broadband Corp. Class C COM 530307305 844 11,435 SH   SOLE 0 9,056 0 2,379
Liberty Global Plc Class A COM G5480U104 7,585 486,512 SH   SOLE 0 376,708 0 109,804
Liberty Global Plc Class C COM G5480U120 2,559 155,063 SH   SOLE 0 119,442 0 35,621
Lear Corporation COM 521865204 3,452 28,843 SH   SOLE 0 22,489 0 6,354
Lions Gate Entertainment Corp Class B COM 535919500 91 13,050 SH   SOLE 0 10,326 0 2,724
Liberty Latin America Ltd. Class A COM G9001E102 598 96,535 SH   SOLE 0 74,252 0 22,283
Liberty Latin America Ltd. Class C COM G9001E128 792 128,846 SH   SOLE 0 99,336 0 29,510
LivaNova Plc COM G5509L101 7,141 140,661 SH   SOLE 0 109,388 0 31,273
Louisiana-Pacific Corporation COM 546347105 6,928 135,333 SH   SOLE 0 105,275 0 30,058
Lam Research Corporation COM 512807108 3,873 10,583 SH   SOLE 0 8,224 0 2,359
Lesaka Technologies, Inc. COM 64107N206 1,958 556,288 SH   SOLE 0 433,692 0 122,596
Liberty Media Corp. Series A Liberty SiriusXM COM 531229409 1,581 41,524 SH   SOLE 0 32,425 0 9,099
Liberty Media Corp. Series C Liberty SiriusXM COM 531229607 3,478 92,217 SH   SOLE 0 71,767 0 20,450
Lumen Technologies, Inc. COM 550241103 3,429 471,013 SH   SOLE 0 367,278 0 103,735
LyondellBasell Industries NV COM N53745100 5,549 73,712 SH   SOLE 0 57,725 0 15,987
Masco Corporation COM 574599106 5,382 115,277 SH   SOLE 0 89,941 0 25,336
MBIA Inc. COM 55262C100 16,715 1,816,888 SH   SOLE 0 1,413,297 0 403,591
Microchip Technology Incorporated COM 595017104 3,164 51,849 SH   SOLE 0 40,534 0 11,315
McKesson Corporation COM 58155Q103 7,529 22,153 SH   SOLE 0 17,208 0 4,945
Meta Platforms Inc. Class A COM 30303M102 9,315 68,652 SH   SOLE 0 53,435 0 15,217
MGM Resorts International COM 552953101 31,325 1,054,016 SH   SOLE 0 821,072 0 232,944
Mohawk Industries, Inc. COM 608190104 3,855 42,269 SH   SOLE 0 33,025 0 9,244
Markel Corporation COM 570535104 14,822 13,671 SH   SOLE 0 10,649 0 3,022
Altria Group Inc COM 02209S103 4,310 106,741 SH   SOLE 0 58,821 0 47,920
Marathon Petroleum Corporation COM 56585A102 18,933 190,603 SH   SOLE 0 148,532 0 42,071
Morgan Stanley COM 617446448 15,039 190,340 SH   SOLE 0 147,993 0 42,347
Microsoft Corporation COM 594918104 31,816 136,606 SH   SOLE 0 106,143 0 30,463
Micron Technology, Inc. COM 595112103 32,537 649,441 SH   SOLE 0 504,877 0 144,564
NOBLE CORP PLC COM G6610J209 8,999 304,217 SH   SOLE 0 237,987 0 66,230
Ingevity Corporation COM 45688C107 723 11,923 SH   SOLE 0 9,315 0 2,608
NVIDIA Corporation COM 67066G104 13,097 107,893 SH   SOLE 0 84,007 0 23,886
Petroleo Brasileiro SA Sponsored ADR COM 71654V408 13,919 1,127,953 SH   SOLE 0 809,147 0 318,806
Permian Basin Royalty Trust COM 714236106 6,557 401,508 SH   SOLE 0 313,354 0 88,154
Philip Morris International Inc. COM 718172109 10,404 125,334 SH   SOLE 0 70,207 0 55,127
PNC Financial Services Group, Inc. COM 693475105 10,897 72,929 SH   SOLE 0 57,142 0 15,787
PayPal Holdings, Inc. COM 70450Y103 30,306 352,103 SH   SOLE 0 273,533 0 78,570
QUALCOMM Incorporated COM 747525103 7,002 61,973 SH   SOLE 0 48,146 0 13,827
Qurate Retail, Inc. Class A COM 74915M100 74 37,030 SH   SOLE 0 29,459 0 7,571
RLX Technology, Inc. Sponsored ADR Class A COM 74969N103 846 805,839 SH   SOLE 0 459,261 0 346,578
Raytheon Technologies Corporation COM 75513E101 5,770 70,492 SH   SOLE 0 66,563 0 3,929
Rackspace Technology, Inc. COM 750102105 2,279 558,588 SH   SOLE 0 435,959 0 122,629
Ryanair Holdings Plc Sponsored ADR COM 783513203 22,747 389,365 SH   SOLE 0 276,900 0 112,465
Spirit Airlines, Inc. COM 848577102 1,765 93,798 SH   SOLE 0 72,883 0 20,915
Southern Copper Corporation COM 84265V105 6,939 154,743 SH   SOLE 0 120,438 0 34,305
Charles Schwab Corp COM 808513105 51,027 709,990 SH   SOLE 0 553,819 0 156,171
Sherwin-Williams Company COM 824348106 24,059 117,504 SH   SOLE 0 91,155 0 26,349
SL Green Realty Corp. COM 78440X887 10,047 250,183 SH   SOLE 0 195,103 0 55,080
Scotts Miracle-Gro Company Class A COM 810186106 2,299 53,780 SH   SOLE 0 41,705 0 12,075
Spotify Technology SA COM L8681T102 1,205 13,968 SH   SOLE 0 10,905 0 3,063
Steel Dynamics, Inc. COM 858119100 8,305 117,058 SH   SOLE 0 91,215 0 25,843
Scorpio Tankers Inc. COM Y7542C130 22,762 541,431 SH   SOLE 0 422,677 0 118,754
Seagate Technology Holdings PLC COM G7997R103 10,668 200,414 SH   SOLE 0 155,427 0 44,987
Synchrony Financial COM 87165B103 24,768 878,596 SH   SOLE 0 684,296 0 194,300
Thor Industries, Inc. COM 885160101 2,932 41,900 SH   SOLE 0 32,646 0 9,254
Texas Pacific Land Corporation COM 88262P102 3,395 1,910 SH   SOLE 0 1,498 0 412
Tractor Supply Company COM 892356106 34,792 187,176 SH   SOLE 0 145,178 0 41,998
Taiwan Semiconductor Manufacturing Co., Ltd. Spons COM 874039100 49,930 728,267 SH   SOLE 0 566,082 0 162,185
Texas Instruments Incorporated COM 882508104 9,089 58,719 SH   SOLE 0 45,798 0 12,921
United Airlines Holdings, Inc. COM 910047109 2,237 68,754 SH   SOLE 0 53,699 0 15,055
Uber Technologies, Inc. COM 90353T100 5,137 193,847 SH   SOLE 0 151,060 0 42,787
Union Pacific Corporation COM 907818108 18,865 96,835 SH   SOLE 0 75,354 0 21,481
Visa Inc. Class A COM 92826C839 7,563 42,570 SH   SOLE 0 33,172 0 9,398
Marriott Vacations Worldwide Corporation COM 57164Y107 2,513 20,621 SH   SOLE 0 16,128 0 4,493
Valaris Ltd. COM G9460G101 8,842 180,668 SH   SOLE 0 141,160 0 39,508
Veeco Instruments Inc. COM 922417100 954 52,058 SH   SOLE 0 40,727 0 11,331
VICI Properties Inc COM 925652109 2,970 99,486 SH   SOLE 0 77,534 0 21,952
Vipshop Holdings Ltd Sponsored ADR COM 92763W103 6,479 770,387 SH   SOLE 0 599,320 0 171,067
Venator Materials PLC COM G9329Z100 73 83,359 SH   SOLE 0 65,529 0 17,830
Western Digital Corporation COM 958102105 3,222 98,990 SH   SOLE 0 76,719 0 22,271
Wells Fargo & Company COM 949746101 89,501 2,225,279 SH   SOLE 0 1,744,886 0 480,393
Wheaton Precious Metals Corp COM 962879102 4,632 143,133 SH   SOLE 0 111,496 0 31,637
WestRock Company COM 96145D105 5,928 191,921 SH   SOLE 0 149,523 0 42,398
Willis Towers Watson Public Limited Company COM G96629103 12,476 62,087 SH   SOLE 0 47,980 0 14,107
Yandex NV Class A COM N97284108 0 278,906 SH   SOLE 0 221,114 0 57,792