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 150,647 145,252 SH   SOLE   106,012 0 39,240
American Intl Group, Inc. COMMON 026874784 196,526 3,611,276 SH   SOLE   2,650,476 0 960,800
Antero Resources Corporation COMMON 03674X106 230,674 11,620,868 SH   SOLE   8,527,168 0 3,093,700
Applied Materials COMMON 038222105 143,060 2,572,557 SH   SOLE   1,887,257 0 685,300
Bank of America Corporatio COMMON 060505104 236,192 7,875,705 SH   SOLE   5,798,655 0 2,077,050
Berkshire Hathaway, Inc. C COMMON 084670702 199,729 1,001,246 SH   SOLE   735,246 0 266,000
BP PLC Sponsored ADR COMMON 055622104 183,419 4,524,404 SH   SOLE   3,290,404 0 1,234,000
Capital One Financial Corp COMMON 14040H105 213,659 2,229,799 SH   SOLE   1,635,999 0 593,800
CBS Corporation COMMON 124857202 180,391 3,510,235 SH   SOLE   2,576,885 0 933,350
CitiGroup, Inc. COMMON 172967424 240,617 3,564,703 SH   SOLE   2,617,403 0 947,300
Delta Air Lines Inc COMMON 247361702 180,168 3,287,146 SH   SOLE   2,420,446 0 866,700
Exelon Corporation COMMON 30161N101 129,118 3,309,860 SH   SOLE   2,385,360 0 924,500
First Data Corporation COMMON 32008D106 198,176 12,386,015 SH   SOLE   9,144,815 0 3,241,200
Fluor Corporation COMMON 343412102 165,103 2,885,406 SH   SOLE   2,118,106 0 767,300
Freeport-McMoRan Inc. COMMON 35671D857 132,236 7,526,256 SH   SOLE   5,513,906 0 2,012,350
The Goodyear Tire and Rubber Co COMMON 382550101 133,876 5,036,704 SH   SOLE   3,693,104 0 1,343,600
Intel Corporation COMMON 458140100 152,696 2,931,959 SH   SOLE   2,152,909 0 779,050
International Paper Company COMMON 460146103 202,385 3,787,850 SH   SOLE   2,775,550 0 1,012,300
Keysight Technologies, Inc. COMMON 49338L103 166,588 3,179,764 SH   SOLE   2,333,614 0 846,150
Marsh & McLennan Companies Inc. COMMON 571748102 137,461 1,664,378 SH   SOLE   1,219,828 0 444,550
Merck & Co. Inc. COMMON 58933Y105 256,012 4,700,059 SH   SOLE   3,449,859 0 1,250,200
MetLife Inc. COMMON 59156R108 172,964 3,769,099 SH   SOLE   2,766,849 0 1,002,250
Micron Technology Inc. COMMON 595112103 132,224 2,535,950 SH   SOLE   1,867,250 0 668,700
Microsoft Corporation COMMON 594918104 172,992 1,895,390 SH   SOLE   1,383,640 0 511,750
Oracle Corporation COMMON 68389X105 175,478 3,835,574 SH   SOLE   2,826,924 0 1,008,650
Pfizer Inc. COMMON 717081103 203,965 5,747,106 SH   SOLE   4,251,606 0 1,495,500
Sabre Corporation COMMON 78573M104 178,193 8,307,383 SH   SOLE   6,100,583 0 2,206,800
Thermo Fisher Scientific, COMMON 883556102 153,927 745,552 SH   SOLE   544,502 0 201,050
TOTAL S.A. - ADR COMMON 89151E109 197,844 3,429,428 SH   SOLE   2,489,778 0 939,650
Vodafone Group Plc ADR COMMON 92857W308 145,574 5,232,707 SH   SOLE   3,802,157 0 1,430,550
Wal-Mart Stores, Inc. COMMON 931142103 142,288 1,599,278 SH   SOLE   1,167,878 0 431,400
Aon PLC COMMON G0408V102 169,739 1,209,571 SH   SOLE   881,221 0 328,350
Pentair plc COMMON G7S00T104 152,580 2,239,543 SH   SOLE   1,614,143 0 625,400
Chubb Ltd COMMON H1467J104 187,472 1,370,711 SH   SOLE   996,761 0 373,950
Flex, Ltd. COMMON Y2573F102 162,710 9,963,862 SH   SOLE   7,252,762 0 2,711,100