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 24,049,001 461,239 SH SOLE 461,239 0 0
Alpha Metallurgical Resources, Inc. Common Stocks 020764106 12,808,911 77,658 SH SOLE 77,658 0 0
Alphabet Inc. Class C Common Stocks 02079K107 151,385,652 428,454 SH SOLE 428,454 0 0
Amazon.com, Inc. Common Stocks 023135106 58,237,426 244,346 SH SOLE 244,346 0 0
American Airlines Group Inc. Common Stocks 02376R102 18,074,951 1,000,274 SH SOLE 1,000,274 0 0
American Express Company Common Stocks 025816109 71,080,193 210,141 SH SOLE 210,141 0 0
American International Group, Inc. Common Stocks 026874784 61,572,363 826,142 SH SOLE 826,142 0 0
Applied Materials, Inc. Common Stocks 038222105 18,568,086 25,682 SH SOLE 25,682 0 0
Arlo Technologies, Inc. Common Stocks 04206A101 15,993,198 1,186,439 SH SOLE 1,186,439 0 0
Bank of America Corp Common Stocks 060505104 52,311,914 918,075 SH SOLE 918,075 0 0
Berkshire Hathaway Inc. Class B Common Stocks 084670702 75,190,103 150,263 SH SOLE 150,263 0 0
Bio-Rad Laboratories, Inc. Class A Common Stocks 090572207 27,725,592 94,430 SH SOLE 94,430 0 0
Booking Holdings Inc. Common Stocks 09857L108 66,625,221 373,795 SH SOLE 373,795 0 0
Broadcom Inc. Common Stocks 11135F101 43,657,323 115,572 SH SOLE 115,572 0 0
Caesars Entertainment Inc Common Stocks 12769G100 4,141,752 137,235 SH SOLE 137,235 0 0
Capital One Financial Corp Common Stocks 14040H105 51,199,829 255,208 SH SOLE 255,208 0 0
CBRE Group, Inc. Class A Common Stocks 12504L109 66,311,793 492,329 SH SOLE 492,329 0 0
CENOVUS ENERGY INC. Common Stocks 15135U109 19,728,714 795,192 SH SOLE 795,192 0 0
Charles Schwab Corp Common Stocks 808513105 25,382,554 275,090 SH SOLE 275,090 0 0
Chevron Corporation Common Stocks 166764100 6,271,695 37,836 SH SOLE 37,836 0 0
Citigroup Inc. Common Stocks 172967424 143,599,800 1,026,006 SH SOLE 1,026,006 0 0
Citizens Financial Group, Inc. Common Stocks 174610105 21,010,630 299,852 SH SOLE 299,852 0 0
ConocoPhillips Common Stocks 20825C104 26,642,141 256,273 SH SOLE 256,273 0 0
Copa Holdings, S.A. Class A Common Stocks P31076105 9,829,846 63,186 SH SOLE 63,186 0 0
Core Natural Resources Inc Common Stocks 218937100 5,353,578 66,903 SH SOLE 66,903 0 0
Corning Inc Common Stocks 219350105 71,633,300 280,442 SH SOLE 280,442 0 0
Corteva Inc Common Stocks 22052L104 5,213,262 61,557 SH SOLE 61,557 0 0
Costco Wholesale Corporation Common Stocks 22160K105 54,938,282 58,728 SH SOLE 58,728 0 0
Coupang Inc Common Stocks 22266T109 34,597,166 1,991,777 SH SOLE 1,991,777 0 0
Credicorp Ltd. Common Stocks G2519Y108 29,602,626 75,986 SH SOLE 75,986 0 0
CRH Plc Common Stocks G25508105 8,698,779 81,297 SH SOLE 81,297 0 0
Delta Air Lines, Inc. Common Stocks 247361702 48,906,349 522,169 SH SOLE 522,169 0 0
DHT Holdings, Inc. Common Stocks Y2065G121 51,547,731 3,118,435 SH SOLE 3,118,435 0 0
Diana Shipping Inc. Common Stocks Y2066G104 3,653,563 1,739,792 SH SOLE 1,739,792 0 0
Elevance Health, Inc. Common Stocks 036752103 58,013,754 150,011 SH SOLE 150,011 0 0
EPAM Systems, Inc. Common Stocks 29414B104 2,290,041 28,860 SH SOLE 28,860 0 0
Exxon Mobil Corporation Common Stocks 30231G102 6,699,007 48,998 SH SOLE 48,998 0 0
Ferroglobe PLC Common Stocks G33856108 32,531,817 10,230,131 SH SOLE 10,230,131 0 0
FirstCash Holdings, Inc. Common Stocks 33768G107 8,470,442 39,157 SH SOLE 39,157 0 0
Freeport-McMoRan, Inc. Common Stocks 35671D857 85,465,686 1,358,971 SH SOLE 1,358,971 0 0
Funko, Inc. Class A Common Stocks 361008105 8,106,074 1,378,584 SH SOLE 1,378,584 0 0
Golar LNG Limited Common Stocks G9456A100 19,276,517 386,768 SH SOLE 386,768 0 0
Himalaya Shipping Ltd Common Stocks G4660A103 24,437,925 1,829,186 SH SOLE 1,829,186 0 0
Interactive Brokers Group, Inc. Class A Common Stocks 45841N107 92,361,626 1,061,140 SH SOLE 1,061,140 0 0
International Seaways, Inc. Common Stocks Y41053102 46,610,300 608,569 SH SOLE 608,569 0 0
Jefferies Financial Group Inc. Common Stocks 47233W109 25,180,474 503,811 SH SOLE 503,811 0 0
JPMorgan Chase & Co. Common Stocks 46625H100 33,390,933 102,010 SH SOLE 102,010 0 0
Kroger Co. Common Stocks 501044101 13,022,896 234,520 SH SOLE 234,520 0 0
Lam Research Corporation Common Stocks 512807306 36,837,383 85,010 SH SOLE 85,010 0 0
Lesaka Technologies, Inc. Common Stocks 64107N206 13,539,040 2,724,153 SH SOLE 2,724,153 0 0
Liberty Broadband Corp. Class C Common Stocks 530307305 227,365 6,836 SH SOLE 6,836 0 0
Liberty Live Holdings Inc A Common Stocks 530909100 390,560 3,857 SH SOLE 3,857 0 0
Liberty Live Holdings Inc C Common Stocks 530909308 585,034 5,538 SH SOLE 5,538 0 0
Liberty Media Corp. Series C Liberty Formula One Common Stocks 531229755 7,423,013 78,022 SH SOLE 78,022 0 0
Liberty Sirius Xm Holdings Inc Common Stocks 829933100 844,726 28,596 SH SOLE 28,596 0 0
Loews Corporation Common Stocks 540424108 10,464,227 92,432 SH SOLE 92,432 0 0
Louisiana-Pacific Corporation Common Stocks 546347105 31,452,201 399,850 SH SOLE 399,850 0 0
LyondellBasell Industries NV Common Stocks N53745100 43,180,371 820,140 SH SOLE 820,140 0 0
Marathon Petroleum Corporation Common Stocks 56585A102 52,884,317 206,846 SH SOLE 206,846 0 0
Masco Corporation Common Stocks 574599106 11,569,024 142,178 SH SOLE 142,178 0 0
MBIA Inc. Common Stocks 55262C100 10,101,208 1,549,265 SH SOLE 1,549,265 0 0
MGM Resorts International Common Stocks 552953101 33,990,328 710,946 SH SOLE 710,946 0 0
Microchip Technology Incorporated Common Stocks 595017104 30,200,971 331,151 SH SOLE 331,151 0 0
Micron Technology, Inc. Common Stocks 595112103 222,138,493 192,446 SH SOLE 192,446 0 0
Millicom International Cellular Common Stocks L6388F110 31,068,146 342,311 SH SOLE 342,311 0 0
Montauk Renewables, Inc. Common Stocks 61218C103 609,207 390,517 SH SOLE 390,517 0 0
Morgan Stanley Common Stocks 617446448 39,359,305 188,286 SH SOLE 188,286 0 0
Noble Corporation PLC Class A Common Stocks G65431127 37,304,513 1,000,121 SH SOLE 1,000,121 0 0
Nu Holdings Ltd. Class A Common Stocks G6683N103 12,180,018 911,678 SH SOLE 911,678 0 0
Occidental Petroleum Corporation Common Stocks 674599105 17,485,054 359,997 SH SOLE 359,997 0 0
PayPal Holdings, Inc. Common Stocks 70450Y103 8,724,519 202,050 SH SOLE 202,050 0 0
Peabody Energy Corporation Common Stocks 704551100 1,858,270 80,375 SH SOLE 80,375 0 0
Philip Morris International Inc. Common Stocks 718172109 7,948,643 43,937 SH SOLE 43,937 0 0
Phillips 66 Common Stocks 718546104 8,608,702 50,924 SH SOLE 50,924 0 0
Quaker Houghton Common Stocks 747316107 17,889,556 112,605 SH SOLE 112,605 0 0
QUALCOMM Incorporated Common Stocks 747525103 17,065,172 92,349 SH SOLE 92,349 0 0
Range Resources Corporation Common Stocks 75281A109 4,573,552 122,978 SH SOLE 122,978 0 0
Royalty Pharma Plc Class A Common Stocks G7709Q104 27,368,216 488,108 SH SOLE 488,108 0 0
Scorpio Tankers Inc. Common Stocks Y7542C130 9,337,148 134,813 SH SOLE 134,813 0 0
Seadrill Ltd Common Stocks G7997W102 26,644,757 704,515 SH SOLE 704,515 0 0
Seagate Technology Holdings PLC Common Stocks G7997R103 51,970,075 53,855 SH SOLE 53,855 0 0
Steel Dynamics, Inc. Common Stocks 858119100 33,979,355 148,084 SH SOLE 148,084 0 0
Synchrony Financial Common Stocks 87165B103 53,411,816 702,325 SH SOLE 702,325 0 0
Texas Pacific Land Corporation Common Stocks 88262P102 15,203,176 34,739 SH SOLE 34,739 0 0
Thor Industries, Inc. Common Stocks 885160101 4,788,143 63,706 SH SOLE 63,706 0 0
Tidewater Inc Common Stocks 88642R109 40,618,381 609,611 SH SOLE 609,611 0 0
TopBuild Corp. Common Stocks 89055F103 12,472,365 35,180 SH SOLE 35,180 0 0
Transocean Ltd. Common Stocks H8817H100 5,584,786 1,142,083 SH SOLE 1,142,083 0 0
Trupanion Inc Common Stocks 898202106 7,408,608 299,096 SH SOLE 299,096 0 0
Union Pacific Corporation Common Stocks 907818108 16,420,640 60,370 SH SOLE 60,370 0 0
Valaris Ltd. Common Stocks G9460G101 18,524,616 255,160 SH SOLE 255,160 0 0
Valero Energy Corporation Common Stocks 91913Y100 10,473,595 40,215 SH SOLE 40,215 0 0
Visa Inc. Class A Common Stocks 92826C839 7,421,723 21,632 SH SOLE 21,632 0 0
Walt Disney Company Common Stocks 254687106 12,481,411 129,677 SH SOLE 129,677 0 0
Warrior Met Coal, Inc. Common Stocks 93627C101 51,494,397 634,480 SH SOLE 634,480 0 0
Watsco , Inc. Common Stocks 942622200 2,908,359 6,979 SH SOLE 6,979 0 0
Wells Fargo & Company Common Stocks 949746101 39,536,216 478,415 SH SOLE 478,415 0 0
Willis Towers Watson Public Limited Company Common Stocks G96629103 8,280,463 31,681 SH SOLE 31,681 0 0