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
Alphabet Inc. Cl A COMMON 02079K305 154,166 146,351 SH   SOLE   107,611 0 38,740
Antero Resources Corporation COMMON 03674X106 205,183 10,799,117 SH   SOLE   7,983,517 0 2,815,600
Applied Materials COMMON 038222105 155,417 3,040,235 SH   SOLE   2,231,235 0 809,000
Bank of America Corporatio COMMON 060505104 296,239 10,035,213 SH   SOLE   7,420,063 0 2,615,150
Berkshire Hathaway, Inc. C COMMON 084670702 193,600 976,693 SH   SOLE   722,343 0 254,350
BP PLC Sponsored ADR COMMON 055622104 161,732 3,848,012 SH   SOLE   2,791,362 0 1,056,650
Capital One Financial Corp COMMON 14040H105 237,978 2,389,822 SH   SOLE   1,773,472 0 616,350
CBS Corporation COMMON 124857202 177,075 3,001,274 SH   SOLE   2,224,024 0 777,250
CitiGroup, Inc. COMMON 172967424 267,543 3,595,520 SH   SOLE   2,658,970 0 936,550
Delta Air Lines Inc COMMON 247361702 187,774 3,353,100 SH   SOLE   2,487,700 0 865,400
Exelon Corporation COMMON 30161N101 130,149 3,302,427 SH   SOLE   2,397,827 0 904,600
First Data Corporation COMMON 32008D106 208,316 12,466,524 SH   SOLE   9,282,824 0 3,183,700
Fluor Corporation COMMON 343412102 189,384 3,666,689 SH   SOLE   2,717,889 0 948,800
Freeport-McMoRan Inc. COMMON 35671D857 115,090 6,070,138 SH   SOLE   4,496,488 0 1,573,650
The Goodyear Tire and Rubber Co COMMON 382550101 163,987 5,075,414 SH   SOLE   3,743,564 0 1,331,850
Intel Corporation COMMON 458140100 170,857 3,701,413 SH   SOLE   2,742,013 0 959,400
International Paper Company COMMON 460146103 231,774 4,000,234 SH   SOLE   2,966,884 0 1,033,350
Keysight Technologies, Inc. COMMON 49338L103 162,316 3,901,826 SH   SOLE   2,895,126 0 1,006,700
Marsh & McLennan Companies Inc. COMMON 571748102 126,154 1,549,997 SH   SOLE   1,144,547 0 405,450
Merck & Co. Inc. COMMON 58933Y105 204,668 3,637,248 SH   SOLE   2,693,698 0 943,550
MetLife Inc. COMMON 59156R108 179,411 3,548,474 SH   SOLE   2,632,274 0 916,200
Micro Focus International COMMON 594837304 132,585 3,947,161 SH   SOLE   2,899,361 0 1,047,800
Micron Technology Inc. COMMON 595112103 126,619 3,079,248 SH   SOLE   2,282,248 0 797,000
Microsoft Corporation COMMON 594918104 170,867 1,997,505 SH   SOLE   1,480,005 0 517,500
Occidental Petroleum Corporation COMMON 674599105 218,140 2,961,443 SH   SOLE   2,168,093 0 793,350
Oracle Corporation COMMON 68389X105 183,528 3,881,729 SH   SOLE   2,882,229 0 999,500
Pfizer Inc. COMMON 717081103 211,634 5,843,013 SH   SOLE   4,342,963 0 1,500,050
Sabre Corporation COMMON 78573M104 117,147 5,714,497 SH   SOLE   4,239,497 0 1,475,000
Thermo Fisher Scientific, COMMON 883556102 185,505 976,959 SH   SOLE   715,259 0 261,700
TOTAL S.A. - ADR COMMON 89151E109 211,127 3,819,222 SH   SOLE   2,764,072 0 1,055,150
Vodafone Group Plc ADR COMMON 92857W308 185,367 5,810,869 SH   SOLE   4,263,319 0 1,547,550
Wal-Mart Stores, Inc. COMMON 931142103 188,507 1,908,935 SH   SOLE   1,412,835 0 496,100
Aon PLC COMMON G0408V102 146,868 1,096,031 SH   SOLE   794,981 0 301,050
Pentair plc COMMON G7S00T104 178,036 2,521,049 SH   SOLE   1,847,849 0 673,200
Chubb Ltd COMMON H1467J104 186,777 1,278,154 SH   SOLE   934,704 0 343,450
Flex, Ltd. COMMON Y2573F102 201,870 11,221,218 SH   SOLE   8,232,368 0 2,988,850