Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AMZN	Amazon.com, Inc.	274,884	$244M	6.8%	$886.54 *	$29.33	+51.1%	COM	023135106
C	Citigroup Inc.	2,151,795	$129M	3.6%	$59.82 *	$39.20	+15.4%	COM	172967424
BAC	Bank of America Corporation	5,120,647	$121M	3.4%	$23.59 *	$13.35	+44.6%	COM	060505104
GOOG	Alphabet Inc. Class C	138,317	$115M	3.2%	$829.56 *	$33.08	+24.5%	COM	02079K107
AIG	American International Group, Inc.	1,789,984	$112M	3.1%	$62.43 *	$46.80	+6.7%	COM	026874784
AAL	American Airlines Group, Inc.	2,297,633	$97.19M	2.7%	$42.30 *	$38.75	+5.7%	COM	02376R102
COST	Costco Wholesale Corporation	523,962	$87.86M	2.4%	$167.69 *	$124.96	+14.5%	COM	22160K105
DAL	Delta Air Lines, Inc.	1,861,777	$85.57M	2.4%	$45.96 *	$39.32	+5.5%	COM	247361702
CBRE	CBRE Group, Inc. Class A	2,386,093	$83.01M	2.3%	$34.79	$33.32	+4.4%	COM	12504L109
—	Priceline Group Inc	43,914	$78.17M	2.2%	$1779.98	$1315.35	—	COM	741503403
CX	Cemex SAB de CV Sponsored ADR	7,036,294	$63.82M	1.8%	$9.07	$7.55	+20.1%	COM	151290889
PYPL	PAYPAL HOLDINGS INC	1,400,570	$60.25M	1.7%	$43.02	$36.63	+17.2%	COM	70450Y103
BRK/B	Berkshire Hathaway Inc. Class B	357,700	$59.62M	1.7%	$166.68	$141.09	+18.1%	COM	084670702
WFC	Wells Fargo & Company	1,047,166	$58.28M	1.6%	$55.66 *	$40.15	+8.6%	COM	949746101
MGM	MGM Resorts International	2,045,838	$56.06M	1.6%	$27.40 *	$20.25	+28.3%	COM	552953101
—	AMERICAN INTERNATIONAL GROUP INC WARRANTS 2011-19.	2,607,023	$55.71M	1.5%	$21.37	$21.55	—	CONV BONDS	026874156
MU	Micron Technology, Inc.	1,897,736	$54.84M	1.5%	$28.90 *	$16.12	+74.9%	COM	595112103
TSM	Taiwan Semiconductor Manufacturing Co., Ltd. Spons	1,658,744	$54.47M	1.5%	$32.84	$23.91	+37.4%	COM	874039100
—	BANK OF AMERICA CORP WARRANTS 2009-16.1.19 ON SHS	4,741,725	$53.58M	1.5%	$11.30	$5.24	—	CONV BONDS	060505146
AXP	American Express Company	663,149	$52.46M	1.5%	$79.11 *	$63.47	+10.3%	COM	025816109
COF	Capital One Financial Corporation	595,063	$51.57M	1.4%	$86.66 *	$65.10	+14.3%	COM	14040H105
—	Liberty Global Plc Class C	1,451,466	$50.86M	1.4%	$35.04	$38.01	—	COM	G5480U120
SYF	Synchrony Financial	1,480,250	$50.77M	1.4%	$34.30 *	$25.07	+10.6%	COM	87165B103
MBI	MBIA Inc.	5,775,646	$48.92M	1.4%	$8.47 *	$3.01	+22.7%	COM	55262C100
—	Lazard Ltd Class A	993,082	$45.67M	1.3%	$45.99	$41.13	—	COM	G54050102
LBTYAUSD	Liberty Global Plc Class A	1,240,578	$44.5M	1.2%	$35.87	$40.28	—	COM	G5480U104
—	SL Green Realty Corp.	404,479	$43.13M	1.2%	$106.62	$107.30	—	COM	78440X101
CMCSA	COMCAST CORPORATION CLASS A	1,081,757	$40.66M	1.1%	$37.59 *	$26.98	+12.3%	COM	20030N101
—	Belmond Ltd. Class A	3,314,625	$40.11M	1.1%	$12.10	$10.51	—	COM	G1154H107
CFG	Citizens Financial Group, Inc.	1,107,738	$38.27M	1.1%	$34.55 *	$15.65	+56.2%	COM	174610105
UAL	United Continental Holdings, Inc.	478,973	$33.84M	0.9%	$70.64	$56.02	+26.1%	COM	910047109
WTW	WILLIS TOWERS WATSON PLC	255,650	$33.46M	0.9%	$130.89 *	$103.00	+12.6%	COM	G96629103
JD	JD.com, Inc. Sponsored ADR Class A	1,064,209	$33.11M	0.9%	$31.11	$27.24	+14.2%	COM	47215P106
TSCO	Tractor Supply Company	467,262	$32.23M	0.9%	$68.97 *	$14.99	-19.7%	COM	892356106
SCHW	Charles Schwab Corporation	732,943	$29.91M	0.8%	$40.81 *	$27.83	+30.9%	COM	808513105
EBAY	eBay Inc.	888,989	$29.84M	0.8%	$33.57 *	$24.33	+22.8%	COM	278642103
UNP	UNION PACIFIC CORPORATION	271,329	$28.74M	0.8%	$105.92 *	$70.88	+23.2%	COM	907818108
SHW	Sherwin-Williams Company	92,413	$28.67M	0.8%	$310.19 *	$82.90	+15.3%	COM	824348106
NTES	NetEase, Inc. Sponsored ADR	96,626	$27.44M	0.8%	$284.00	$154.27	+84.1%	COM	64110W102
HPE	HEWLETT PACKARD ENTERPRISE CO.	1,143,182	$27.09M	0.8%	$23.70 *	$7.94	+33.7%	COM	42824C109
—	SCORPIO TANKERS INC.	5,967,239	$26.5M	0.7%	$4.44	$4.47	—	COM	Y7542C106
F	Ford Motor Company	2,219,143	$25.83M	0.7%	$11.64 *	$8.01	-8.7%	COM	345370860
—	Level 3 Communications, Inc.	412,313	$23.59M	0.7%	$57.22	$46.59	—	COM	52729N308
INTC	Intel Corporation	606,976	$21.89M	0.6%	$36.07 *	$23.98	+23.7%	COM	458140100
LOW	Lowe s Companies, Inc.	265,884	$21.86M	0.6%	$82.21 *	$59.59	+17.3%	COM	548661107
HCKT	Hackett Group, Inc.	1,109,383	$21.62M	0.6%	$19.49	$14.35	+35.8%	COM	404609109
MSFT	Microsoft Corporation	315,377	$20.77M	0.6%	$65.86 *	$43.08	+38.4%	COM	594918104
—	Discovery Communications, Inc. Class A	705,764	$20.53M	0.6%	$29.09	$26.39	—	COM	25470F104
MO	Altria Group, Inc.	276,075	$19.72M	0.5%	$71.42 *	$29.14	+31.4%	COM	02209S103
EPAM	EPAM Systems, Inc.	253,152	$19.12M	0.5%	$75.52	$71.46	+5.7%	COM	29414B104
—	Seagate Technology PLC	409,495	$18.81M	0.5%	$45.93	$39.75	—	COM	G7945M107
—	CoreLogic, Inc.	452,747	$18.44M	0.5%	$40.72	$37.77	—	COM	21871D103
IT	Gartner, Inc.	167,476	$18.09M	0.5%	$107.99	$89.16	+21.1%	COM	366651107
ELV	Anthem, Inc.	109,218	$18.06M	0.5%	$165.38 *	$126.41	+16.6%	COM	036752103
MHK	Mohawk Industries, Inc.	77,920	$17.88M	0.5%	$229.49	$199.20	+15.2%	COM	608190104
—	ACTIVISION BLIZZARD INC	357,350	$17.82M	0.5%	$49.86	$35.04	—	COM	00507V109
MS	Morgan Stanley	415,411	$17.8M	0.5%	$42.84 *	$26.23	+26.6%	COM	617446448
JPM	JPMorgan Chase & Co.	200,241	$17.59M	0.5%	$87.84 *	$51.19	+35.5%	COM	46625H100
BIO	Bio-Rad Laboratories, Inc. Class A	86,080	$17.16M	0.5%	$199.34	$147.70	+35.0%	COM	090572207
BFH	Alliance Data Systems Corporation	65,653	$16.35M	0.5%	$249.01 *	$171.68	+0.5%	COM	018581108
—	KKR & Co. L.P.	865,769	$15.78M	0.4%	$18.23	$15.79	—	COM	48248M102
MKL	MARKEL CORPORATION	16,063	$15.68M	0.4%	$975.85	$874.24	+11.6%	COM	570535104
KR	Kroger Co.	528,328	$15.58M	0.4%	$29.49 *	$28.53	-14.1%	COM	501044101
CTSH	Cognizant Technology Solutions Corporation Class A	261,458	$15.56M	0.4%	$59.52 *	$54.23	-2.7%	COM	192446102
—	Sotheby s Class A	340,866	$15.5M	0.4%	$45.48	$33.53	—	COM	835898107
PM	Philip Morris International Inc.	129,487	$14.62M	0.4%	$112.90 *	$52.23	+38.5%	COM	718172109
SMG	Scotts Miracle-Gro Company Class A	153,299	$14.32M	0.4%	$93.39 *	$48.74	+42.5%	COM	810186106
—	Delphi Automotive PLC	177,359	$14.28M	0.4%	$80.49	$74.56	—	COM	G27823106
RL	RALPH LAUREN CORPORATION CLASS A	171,346	$13.98M	0.4%	$81.62 *	$82.23	-16.5%	COM	751212101
—	PNC FINANCIAL SERVICES GROUP INC WARRANTS 2010-31.	254,316	$13.44M	0.4%	$52.85	$21.76	—	CONV BONDS	693475121
INDA	iShares MSCI India ETF	421,775	$13.28M	0.4%	$31.49	$28.47	+10.6%	COM	46429B598
—	Hanesbrands Inc.	619,913	$12.87M	0.4%	$20.76	$27.77	—	COM	410345102
—	DOW CHEMICAL COMPANY	198,615	$12.62M	0.4%	$63.54	$51.13	—	COM	260543103
—	LIBERTY SIRIUSXM GROUP CLASS A	320,045	$12.46M	0.3%	$38.92	$32.31	—	COM	531229409
DNOW	NOW Inc	733,837	$12.45M	0.3%	$16.96	$17.81	-4.8%	COM	67011P100
VRSK	Verisk Analytics, Inc. Class A	151,965	$12.33M	0.3%	$81.14 *	$73.11	+6.1%	COM	92345Y106
BIDU	BAIDU, INC. SPONSORED ADR CLASS A	71,414	$12.32M	0.3%	$172.52	$169.12	+2.0%	COM	056752108
—	Liberty Interactive Corporation QVC Group	613,749	$12.29M	0.3%	$20.02	$24.87	—	COM	53071M104
GGG	Graco Inc.	126,586	$11.92M	0.3%	$94.14 *	$21.78	+28.7%	COM	384109104
GRMN	Garmin Ltd.	229,123	$11.71M	0.3%	$51.11 *	$31.47	+30.2%	COM	H2906T109
MAS	Masco Corporation	343,054	$11.66M	0.3%	$33.99 *	$24.21	+22.7%	COM	574599106
—	LIBERTY SIRIUSXM GROUP CLASS C	269,164	$10.44M	0.3%	$38.78	$31.58	—	COM	531229607
DSX	DIANA SHIPPING INC.	2,253,848	$10.41M	0.3%	$4.62 *	$1.96	+38.9%	COM	Y2066G104
—	Tribune Media Co. Class A	277,974	$10.36M	0.3%	$37.27	$36.34	—	COM	896047503
—	Raytheon Company	67,472	$10.29M	0.3%	$152.49	$119.75	—	COM	755111507
BMY	Bristol-Myers Squibb Company	188,834	$10.27M	0.3%	$54.38 *	$44.96	-11.9%	COM	110122108
WDC	Western Digital Corporation	123,433	$10.19M	0.3%	$82.53 *	$45.68	+22.6%	COM	958102105
LBRDA	Liberty Broadband Corp. Class A	116,712	$9.931M	0.3%	$85.09 *	$54.28	+46.9%	COM	530307107
CPA	COPA HOLDINGS, S.A. CLASS A	83,110	$9.329M	0.3%	$112.25 *	$49.83	+75.5%	COM	P31076105
—	JPMORGAN CHASE & CO WARRANTS 2009-28.10.18 ON SHS	200,295	$9.276M	0.3%	$46.31	$20.78	—	CONV BONDS	46634E114
SCCO	SOUTHERN COPPER CORPORATION	255,524	$9.171M	0.3%	$35.89 *	$17.94	+33.5%	COM	84265V105
LIVN	LIVANOVA PLC	185,470	$9.09M	0.3%	$49.01	$49.09	-0.2%	COM	G5509L101
VECO	VEECO INSTRUMENTS INC.	303,880	$9.071M	0.3%	$29.85	$25.26	+18.2%	COM	922417100
HBAN	Huntington Bancshares Incorporated	672,012	$8.998M	0.2%	$13.39 *	$7.27	+26.4%	COM	446150104
CHTR	Charter Communications Inc. Class A	27,390	$8.965M	0.2%	$327.31	$219.43	+49.2%	COM	16119P108
LBRDK	Liberty Broadband Corp. Class C	100,015	$8.641M	0.2%	$86.40 *	$53.90	+50.1%	COM	530307305
—	Liberty Lilac Group Class A	381,803	$8.491M	0.2%	$22.24	$32.21	—	COM	G5480U138
TRIP	TripAdvisor, Inc.	194,735	$8.405M	0.2%	$43.16 *	$62.48	-38.6%	COM	896945201
SALTUSD	SCORPIO BULKERS, INC.	898,697	$8.268M	0.2%	$9.20	$6.93	—	COM	Y7546A122
NBIS	YANDEX N.V.	376,955	$8.267M	0.2%	$21.93	$20.29	—	COM	N97284108
SIG	Signet Jewelers Limited	116,424	$8.065M	0.2%	$69.27 *	$92.15	-37.6%	COM	G81276100
—	FIRSTCASH INC.	161,891	$7.957M	0.2%	$49.15	$47.25	—	COM	33767D105
GOOGL	Alphabet Inc. Class A	9,229	$7.824M	0.2%	$847.76 *	$34.32	+22.6%	COM	02079K305
L	Loews Corporation	162,932	$7.62M	0.2%	$46.77 *	$37.02	+21.5%	COM	540424108
—	USG Corporation	224,959	$7.154M	0.2%	$31.80	$26.93	—	COM	903293405
BYD	Boyd Gaming Corporation	319,755	$7.038M	0.2%	$22.01 *	$16.70	+23.6%	COM	103304101
TXN	TEXAS INSTRUMENTS INCORPORATED	86,350	$6.956M	0.2%	$80.56 *	$41.82	+51.1%	COM	882508104
WHR	WHIRLPOOL CORPORATION	40,548	$6.947M	0.2%	$171.33	$160.35	+6.8%	COM	963320106
—	WESTROCK CO.	126,376	$6.575M	0.2%	$52.03	$51.11	—	COM	96145D105
—	Liberty LiLAC Group Class C	280,318	$6.459M	0.2%	$23.04	$31.60	—	COM	G5480U153
FCX	FREEPORT-MCMORAN, INC.	479,697	$6.409M	0.2%	$13.36 *	$11.03	+9.9%	COM	35671D857
—	Kansas City Southern	74,701	$6.406M	0.2%	$85.76	$90.21	—	COM	485170302
LYB	LYONDELLBASELL INDUSTRIES NV	70,232	$6.404M	0.2%	$91.18 *	$45.89	+18.7%	COM	N53745100
—	Tesoro Corporation	76,303	$6.185M	0.2%	$81.06	$93.20	—	COM	881609101
VZ	Verizon Communications Inc.	122,607	$5.977M	0.2%	$48.75 *	$28.67	+6.6%	COM	92343V104
PZZA	PAPA JOHN`S INTERNATIONAL, INC.	72,712	$5.82M	0.2%	$80.04 *	$52.41	+25.2%	COM	698813102
HPQ	HP Inc	316,920	$5.667M	0.2%	$17.88 *	$9.46	+42.1%	COM	40434L105
—	WELLS FARGO & CO WARRANTS 2010-28.10.18 ON SHS	247,745	$5.497M	0.2%	$22.19	$13.05	—	CONV BONDS	949746119
LPX	Louisiana-Pacific Corporation	212,923	$5.285M	0.1%	$24.82	$17.02	+45.8%	COM	546347105
CAR	Avis Budget Group, Inc.	176,749	$5.228M	0.1%	$29.58 *	$37.32	-24.7%	COM	053774105
VIPS	VIPSHOP HOLDINGS LTD SPONSORED ADR	390,397	$5.208M	0.1%	$13.34	$16.98	-21.4%	COM	92763W103
—	CTRIP.COM INTERNATIONAL LTD. SPONSORED ADR	104,724	$5.147M	0.1%	$49.15	$51.36	—	COM	22943F100
AAP	ADVANCE AUTO PARTS, INC.	34,707	$5.146M	0.1%	$148.27 *	$140.93	-7.7%	COM	00751Y106
RYAAY	Ryanair Holdings Plc Sponsored ADR	61,050	$5.066M	0.1%	$82.98	$78.86	+5.2%	COM	783513203
MOS	MOSAIC COMPANY	170,524	$4.976M	0.1%	$29.18 *	$23.33	+8.3%	COM	61945C103
NOAH	NOAH HOLDINGS LTD. SPONSORED ADR CLASS A	195,135	$4.953M	0.1%	$25.38	$24.56	+3.3%	COM	65487X102
—	CAPITAL ONE FINANCIAL CORP WARRANTS 2009-14.	105,650	$4.733M	0.1%	$44.80	$30.48	—	CONV BONDS	14040H139
—	America Movil SAB de CV Sponsored ADR Class L	329,093	$4.663M	0.1%	$14.17	$15.75	—	COM	02364W105
GLNG	GOLAR LNG LIMITED	164,055	$4.582M	0.1%	$27.93 *	$20.58	+18.8%	COM	G9456A100
GSM	FERROGLOBE PLC	443,511	$4.581M	0.1%	$10.33 *	$9.11	+9.1%	COM	G33856108
KEX	KIRBY CORPORATION	64,169	$4.527M	0.1%	$70.55	$63.68	+10.8%	COM	497266106
CSCO	Cisco Systems, Inc.	128,217	$4.334M	0.1%	$33.80 *	$20.15	+27.9%	COM	17275R102
MCO	Moodys Corporation	35,852	$4.017M	0.1%	$112.04 *	$94.40	+9.6%	COM	615369105
GLW	CORNING INCORPORATED	148,636	$4.013M	0.1%	$27.00 *	$17.69	+20.7%	COM	219350105
CF	CF Industries Holdings, Inc.	134,798	$3.956M	0.1%	$29.35 *	$36.05	-35.4%	COM	125269100
—	Liberty TripAdvisor Holdings Inc Class A	264,560	$3.73M	0.1%	$14.10	$21.40	—	COM	531465102
THO	THOR INDUSTRIES, INC.	36,174	$3.477M	0.1%	$96.12 *	$52.06	+55.0%	COM	885160101
LSAK	NET 1 UEPS TECHNOLOGIES, INC.	245,367	$3.001M	0.1%	$12.23	$10.66	+14.7%	COM	64107N206
HAL	Halliburton Company	60,753	$2.99M	0.1%	$49.22 *	$33.77	+22.6%	COM	406216101
EWY	ISHARES MSCI SOUTH KOREA CAP ETF	45,447	$2.812M	0.1%	$61.87	$51.33	+20.5%	COM	464286772
—	Liberty Interactive Corp NPV	62,339	$2.773M	0.1%	$44.48	$37.56	—	COM	53071M856
—	Leucadia National Corporation	106,574	$2.771M	0.1%	$26.00	$20.12	—	COM	527288104
COTY	Coty Inc. Class A	151,027	$2.738M	0.1%	$18.13 *	$23.50	-31.3%	COM	222070203
—	ILG INC NPV	130,445	$2.734M	0.1%	$20.96	$18.43	—	COM	44967H101
FLR	Fluor Corporation	48,939	$2.575M	0.1%	$52.62 *	$44.38	+10.3%	COM	343412102
—	STNG 2 3/8 07/01/19	2,749,000	$2.493M	0.1%	$0.91	$0.91	—	CONV BONDS	80918TAA7
—	APACHE CORPORATION	45,843	$2.356M	0.1%	$51.39	$51.39	—	COM	037411105
TUR	ISHARES MSCI TURKEY ETF	65,003	$2.327M	0.1%	$35.80	$40.75	-12.1%	COM	464286715
—	Walgreens Boots Alliance Inc	25,977	$2.157M	0.1%	$83.03	$82.93	—	COM	931427108
—	NAVIOS MARITIME ACQUISITION CORPORATION	1,231,164	$2.118M	0.1%	$1.72	$1.72	—	COM	Y62159101
—	Liberty Expedia Holdings Inc NPV	41,573	$1.891M	0.1%	$45.49	$40.20	—	COM	53046P109
—	Liberty Media Corp Series C Liberty Formula One	53,343	$1.822M	0.1%	$34.16	$20.29	—	COM	531229854
BLD	TOPBUILD CORP.	37,310	$1.754M	0.0%	$47.01	$32.34	+45.3%	COM	89055F103
—	iHeartMedia, Inc. Class A	461,865	$1.681M	0.0%	$3.64	$3.78	—	COM	45174J103
—	BANK OF AMERICA CORP WARRANTS 2009-28.10.18 ON SHS	1,563,245	$1.435M	0.0%	$0.92	$0.96	—	CONV BONDS	060505153
—	Liberty Media Corp Series A Liberty Formula One	41,809	$1.367M	0.0%	$32.70	$20.33	—	COM	531229870
NGVT	INGEVITY CORP	21,455	$1.306M	0.0%	$60.87	$32.58	+86.8%	COM	45688C107
—	NII HOLDINGS, INC ORD SHARES	898,905	$1.169M	0.0%	$1.30	$5.28	—	COM	62913F508
FNMA	Federal National Mortgage Association	421,344	$1.095M	0.0%	$2.60	$2.32	+12.2%	COM	313586109
—	Hertz Global Holdings	53,383	$936K	0.0%	$17.53	$11.69	—	COM	42806J106
—	Liberty Braves Group - Class C	39,366	$931K	0.0%	$23.65	$15.43	—	COM	531229888
HRI	Herc Holdings Inc	17,656	$863K	0.0%	$48.88 *	$32.04	+40.5%	COM	42704L104
—	CITIGROUP INC WARRANTS 2011-4.1.19 ON SHS	5,628,741	$827K	0.0%	$0.15	$0.15	—	CONV BONDS	172967226
—	LIONS GATE ENTERTAINMENT CORP NPV	27,952	$681K	0.0%	$24.36	$24.54	—	COM	535919500
—	Tronc Inc	46,379	$646K	0.0%	$13.93	$14.16	—	COM	89703P107
—	Liberty Braves Group - Class A	15,725	$376K	0.0%	$23.91	$15.84	—	COM	531229706
—	COMMERCEHUB INC-SERIES C	21,452	$333K	0.0%	$15.52	$15.88	—	COM	20084V306