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 Common Stocks 013872106 34,284,650 516,880 SH SOLE 516,880 0 0
Alpha Metallurgical Resources, Inc. Common Stocks 020764106 16,173,018 78,789 SH SOLE 78,789 0 0
Alphabet Inc. Class C Common Stocks 02079K107 136,964,462 477,461 SH SOLE 477,461 0 0
Amazon.com, Inc. Common Stocks 023135106 79,046,171 379,537 SH SOLE 379,537 0 0
American Airlines Group Inc. Common Stocks 02376R102 9,758,826 908,643 SH SOLE 908,643 0 0
American Express Company Common Stocks 025816109 65,612,147 216,914 SH SOLE 216,914 0 0
American International Group, Inc. Common Stocks 026874784 66,203,219 879,777 SH SOLE 879,777 0 0
Applied Materials, Inc. Common Stocks 038222105 10,732,890 31,402 SH SOLE 31,402 0 0
Arlo Technologies, Inc. Common Stocks 04206A101 16,503,684 1,159,781 SH SOLE 1,159,781 0 0
Bank of America Corp Common Stocks 060505104 46,201,399 947,721 SH SOLE 947,721 0 0
Berkshire Hathaway Inc. Class B Common Stocks 084670702 73,425,899 153,226 SH SOLE 153,226 0 0
Bio-Rad Laboratories, Inc. Class A Common Stocks 090572207 19,236,259 69,009 SH SOLE 69,009 0 0
Booking Holdings Inc. Common Stocks 09857L108 55,188,875 13,108 SH SOLE 13,108 0 0
Broadcom Inc. Common Stocks 11135F101 36,973,136 119,457 SH SOLE 119,457 0 0
Caesars Entertainment Inc Common Stocks 12769G100 3,688,756 139,567 SH SOLE 139,567 0 0
Capital One Financial Corp Common Stocks 14040H105 47,853,578 262,312 SH SOLE 262,312 0 0
CBRE Group, Inc. Class A Common Stocks 12504L109 66,440,692 490,482 SH SOLE 490,482 0 0
CENOVUS ENERGY INC. Common Stocks 15135U109 21,649,674 816,045 SH SOLE 816,045 0 0
Charles Schwab Corp Common Stocks 808513105 26,682,144 283,913 SH SOLE 283,913 0 0
Chevron Corporation Common Stocks 166764100 7,963,995 38,492 SH SOLE 38,492 0 0
Citigroup Inc. Common Stocks 172967424 127,784,604 1,126,749 SH SOLE 1,126,749 0 0
Citizens Financial Group, Inc. Common Stocks 174610105 18,560,295 309,493 SH SOLE 309,493 0 0
ConocoPhillips Common Stocks 20825C104 34,790,712 263,566 SH SOLE 263,566 0 0
Copa Holdings, S.A. Class A Common Stocks P31076105 7,370,790 64,878 SH SOLE 64,878 0 0
Core Natural Resources Inc Common Stocks 218937100 7,200,921 68,757 SH SOLE 68,757 0 0
Corning Inc Common Stocks 219350105 46,256,586 340,197 SH SOLE 340,197 0 0
Corteva Inc Common Stocks 22052L104 7,240,413 86,494 SH SOLE 86,494 0 0
Costco Wholesale Corporation Common Stocks 22160K105 60,358,747 60,575 SH SOLE 60,575 0 0
Coupang Inc Common Stocks 22266T109 25,344,720 1,342,411 SH SOLE 1,342,411 0 0
Credicorp Ltd. Common Stocks G2519Y108 26,461,128 78,015 SH SOLE 78,015 0 0
CRH Plc Common Stocks G25508105 8,696,578 82,730 SH SOLE 82,730 0 0
Delta Air Lines, Inc. Common Stocks 247361702 36,228,409 544,952 SH SOLE 544,952 0 0
DHT Holdings, Inc. Common Stocks Y2065G121 64,157,243 3,511,617 SH SOLE 3,511,617 0 0
Diana Shipping Inc Warrant Warrants Y2066G138 70,769 321,677 SH SOLE 321,677 0 0
Diana Shipping Inc. Common Stocks Y2066G104 4,486,015 1,794,406 SH SOLE 1,794,406 0 0
Elevance Health, Inc. Common Stocks 036752103 44,626,810 152,440 SH SOLE 152,440 0 0
EPAM Systems, Inc. Common Stocks 29414B104 3,631,970 26,824 SH SOLE 26,824 0 0
Exxon Mobil Corporation Common Stocks 30231G102 8,455,854 49,840 SH SOLE 49,840 0 0
Ferroglobe PLC Common Stocks G33856108 47,632,095 11,561,188 SH SOLE 11,561,188 0 0
FirstCash Holdings, Inc. Common Stocks 33768G107 7,596,328 40,406 SH SOLE 40,406 0 0
Freeport-McMoRan, Inc. Common Stocks 35671D857 84,666,830 1,440,402 SH SOLE 1,440,402 0 0
Funko, Inc. Class A Common Stocks 361008105 4,423,274 1,404,214 SH SOLE 1,404,214 0 0
Golar LNG Limited Common Stocks G9456A100 21,483,347 397,031 SH SOLE 397,031 0 0
Himalaya Shipping Ltd Common Stocks G4660A103 24,978,384 1,878,074 SH SOLE 1,878,074 0 0
Interactive Brokers Group, Inc. Class A Common Stocks 45841N107 80,167,899 1,195,287 SH SOLE 1,195,287 0 0
International Seaways, Inc. Common Stocks Y41053102 50,057,774 686,852 SH SOLE 686,852 0 0
Jefferies Financial Group Inc. Common Stocks 47233W109 21,281,041 515,654 SH SOLE 515,654 0 0
JPMorgan Chase & Co. Common Stocks 46625H100 30,488,213 103,645 SH SOLE 103,645 0 0
Kroger Co. Common Stocks 501044101 17,511,192 242,001 SH SOLE 242,001 0 0
Lam Research Corporation Common Stocks 512807306 22,855,210 106,970 SH SOLE 106,970 0 0
Lesaka Technologies, Inc. Common Stocks 64107N206 14,112,850 2,772,662 SH SOLE 2,772,662 0 0
Liberty Broadband Corp. Class C Common Stocks 530307305 349,686 6,952 SH SOLE 6,952 0 0
Liberty Live Holdings Inc A Common Stocks 530909100 364,819 3,981 SH SOLE 3,981 0 0
Liberty Live Holdings Inc C Common Stocks 530909308 537,462 5,711 SH SOLE 5,711 0 0
Liberty Media Corp. Series C Liberty Formula One Common Stocks 531229755 6,745,317 79,338 SH SOLE 79,338 0 0
Liberty Sirius Xm Holdings Inc Common Stocks 829933100 680,675 29,492 SH SOLE 29,492 0 0
Loews Corporation Common Stocks 540424108 10,178,086 95,354 SH SOLE 95,354 0 0
Louisiana-Pacific Corporation Common Stocks 546347105 13,199,469 181,436 SH SOLE 181,436 0 0
LyondellBasell Industries NV Common Stocks N53745100 69,532,464 863,114 SH SOLE 863,114 0 0
Marathon Petroleum Corporation Common Stocks 56585A102 51,344,461 210,273 SH SOLE 210,273 0 0
Masco Corporation Common Stocks 574599106 8,723,646 144,503 SH SOLE 144,503 0 0
MBIA Inc. Common Stocks 55262C100 9,366,836 1,584,913 SH SOLE 1,584,913 0 0
MGM Resorts International Common Stocks 552953101 27,160,233 733,862 SH SOLE 733,862 0 0
Microchip Technology Incorporated Common Stocks 595017104 19,552,084 302,617 SH SOLE 302,617 0 0
Micron Technology, Inc. Common Stocks 595112103 84,929,935 251,391 SH SOLE 251,391 0 0
Millicom International Cellular Common Stocks L6388F110 26,340,061 351,482 SH SOLE 351,482 0 0
Montauk Renewables, Inc. Common Stocks 61218C103 456,472 396,932 SH SOLE 396,932 0 0
Morgan Stanley Common Stocks 617446448 31,517,953 191,517 SH SOLE 191,517 0 0
Noble Corporation PLC Class A Common Stocks G65431127 51,616,684 1,051,899 SH SOLE 1,051,899 0 0
Nu Holdings Ltd. Class A Common Stocks G6683N103 12,706,629 884,247 SH SOLE 884,247 0 0
Occidental Petroleum Corporation Common Stocks 674599105 36,945,610 568,394 SH SOLE 568,394 0 0
PayPal Holdings, Inc. Common Stocks 70450Y103 9,427,108 208,426 SH SOLE 208,426 0 0
Peabody Energy Corporation Common Stocks 704551100 2,726,217 82,738 SH SOLE 82,738 0 0
Permian Basin Royalty Trust Common Stocks 714236106 6,031,884 280,292 SH SOLE 280,292 0 0
Philip Morris International Inc. Common Stocks 718172109 7,407,232 44,800 SH SOLE 44,800 0 0
Phillips 66 Common Stocks 718546104 9,397,209 51,582 SH SOLE 51,582 0 0
Quaker Houghton Common Stocks 747316107 14,245,330 114,669 SH SOLE 114,669 0 0
QUALCOMM Incorporated Common Stocks 747525103 10,998,327 85,404 SH SOLE 85,404 0 0
Royalty Pharma Plc Class A Common Stocks G7709Q104 23,890,835 498,037 SH SOLE 498,037 0 0
Scorpio Tankers Inc. Common Stocks Y7542C130 12,968,741 173,704 SH SOLE 173,704 0 0
Seadrill Ltd Common Stocks G7997W102 35,623,952 782,944 SH SOLE 782,944 0 0
Seagate Technology Holdings PLC Common Stocks G7997R103 27,950,509 71,346 SH SOLE 71,346 0 0
Steel Dynamics, Inc. Common Stocks 858119100 29,437,020 163,539 SH SOLE 163,539 0 0
Synchrony Financial Common Stocks 87165B103 49,055,684 721,195 SH SOLE 721,195 0 0
Texas Pacific Land Corporation Common Stocks 88262P102 16,705,936 35,203 SH SOLE 35,203 0 0
Thor Industries, Inc. Common Stocks 885160101 5,176,552 64,796 SH SOLE 64,796 0 0
Tidewater Inc Common Stocks 88642R109 55,345,358 662,422 SH SOLE 662,422 0 0
TopBuild Corp. Common Stocks 89055F103 12,570,919 35,784 SH SOLE 35,784 0 0
Transocean Ltd. Common Stocks H8817H100 8,771,145 1,322,948 SH SOLE 1,322,948 0 0
Trupanion Inc Common Stocks 898202106 7,759,984 303,006 SH SOLE 303,006 0 0
Union Pacific Corporation Common Stocks 907818108 15,111,829 62,286 SH SOLE 62,286 0 0
Valaris Ltd. Common Stocks G9460G101 27,765,810 283,209 SH SOLE 283,209 0 0
Valero Energy Corporation Common Stocks 91913Y100 10,064,063 40,732 SH SOLE 40,732 0 0
Visa Inc. Class A Common Stocks 92826C839 6,747,206 22,324 SH SOLE 22,324 0 0
Walt Disney Company Common Stocks 254687106 12,896,126 133,805 SH SOLE 133,805 0 0
Warrior Met Coal, Inc. Common Stocks 93627C101 61,182,969 656,822 SH SOLE 656,822 0 0
Watsco , Inc. Common Stocks 942622200 2,579,999 7,092 SH SOLE 7,092 0 0
Wells Fargo & Company Common Stocks 949746101 39,005,397 489,956 SH SOLE 489,956 0 0
Willis Towers Watson Public Limited Company Common Stocks G96629103 9,368,389 32,227 SH SOLE 32,227 0 0