Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	Amazon.com, Inc.	212,301	$204M	5.3%	$29.33	+67.5%	COM	023135106
C	Citigroup Inc.	2,197,245	$160M	4.2%	$39.32	+32.0%	COM	172967424
BAC	Bank of America Corporation	5,232,119	$133M	3.5%	$13.44	+48.5%	COM	060505104
AAL	American Airlines Group, Inc.	2,344,886	$111M	2.9%	$38.85	+21.0%	COM	02376R102
GOOG	Alphabet Inc. Class C	112,737	$108M	2.8%	$33.35	+38.6%	COM	02079K107
CBRE	CBRE Group, Inc. Class A	2,436,782	$92.31M	2.4%	$33.35	+10.3%	COM	12504L109
DAL	Delta Air Lines, Inc.	1,900,891	$91.66M	2.4%	$39.40	+14.9%	COM	247361702
AIG	American International Group, Inc.	1,492,850	$91.65M	2.4%	$46.80	+7.2%	COM	026874784
PYPL	PAYPAL HOLDINGS INC	1,429,941	$91.56M	2.4%	$36.83	+62.3%	COM	70450Y103
COST	Costco Wholesale Corporation	535,373	$87.96M	2.3%	$125.38	+11.8%	COM	22160K105
—	Priceline Group Inc	43,731	$80.06M	2.1%	$1324.26	—	COM	741503403
MGM	MGM Resorts International	2,088,692	$68.07M	1.8%	$20.40	+50.2%	COM	552953101
BRK/B	Berkshire Hathaway Inc. Class B	365,281	$66.96M	1.7%	$141.49	+24.9%	COM	084670702
CX	Cemex SAB de CV Sponsored ADR	7,144,062	$64.87M	1.7%	$7.25	—	COM	151290889
—	BANK OF AMERICA CORP WARRANTS 2009-16.1.19 ON SHS	4,840,594	$64.09M	1.7%	$5.35	—	CONV BONDS	060505146
TSM	Taiwan Semiconductor Manufacturing Co., Ltd. Spons	1,694,559	$63.63M	1.7%	$24.43	—	COM	874039100
MU	Micron Technology, Inc.	1,564,040	$61.51M	1.6%	$16.12	+91.3%	COM	595112103
AXP	American Express Company	677,148	$61.26M	1.6%	$63.58	+20.5%	COM	025816109
—	AMERICAN INTERNATIONAL GROUP INC WARRANTS 2011-19.	3,022,586	$60.45M	1.6%	$21.48	—	CONV BONDS	026874156
WFC	Wells Fargo & Company	985,116	$54.33M	1.4%	$40.18	+4.9%	COM	949746101
COF	Capital One Financial Corporation	608,013	$51.47M	1.3%	$65.18	+9.5%	COM	14040H105
MBI	MBIA Inc.	5,894,581	$51.28M	1.3%	$3.02	+44.8%	COM	55262C100
SYF	Synchrony Financial	1,601,677	$49.73M	1.3%	$25.00	-2.5%	COM	87165B103
—	Belmond Ltd. Class A	3,384,653	$46.2M	1.2%	$10.55	—	COM	G1154H107
—	Liberty Global Plc Class C	1,412,275	$46.18M	1.2%	$38.01	—	COM	G5480U120
—	Lazard Ltd Class A	1,013,954	$45.85M	1.2%	$41.21	—	COM	G54050102
CFG	Citizens Financial Group, Inc.	1,132,234	$42.88M	1.1%	$15.80	+57.8%	COM	174610105
CMCSA	COMCAST CORPORATION CLASS A	1,105,921	$42.56M	1.1%	$27.06	+18.4%	COM	20030N101
LBTYAUSD	Liberty Global Plc Class A	1,229,285	$41.69M	1.1%	$40.28	—	COM	G5480U104
JD	JD.com, Inc. Sponsored ADR Class A	1,085,667	$41.47M	1.1%	$26.60	—	COM	47215P106
WTW	WILLIS TOWERS WATSON PLC	261,428	$40.32M	1.0%	$103.34	+28.6%	COM	G96629103
EBAY	eBay Inc.	907,450	$34.9M	0.9%	$24.43	+32.4%	COM	278642103
SHW	Sherwin-Williams Company	94,866	$33.97M	0.9%	$83.46	+27.6%	COM	824348106
SCHW	Charles Schwab Corporation	748,241	$32.73M	0.9%	$27.95	+32.9%	COM	808513105
UNP	UNION PACIFIC CORPORATION	277,138	$32.14M	0.8%	$71.19	+25.2%	COM	907818108
TSCO	Tractor Supply Company	478,089	$30.26M	0.8%	$14.91	-33.2%	COM	892356106
UAL	United Continental Holdings, Inc.	489,015	$29.77M	0.8%	$56.33	+18.3%	COM	910047109
—	SCORPIO TANKERS INC.	8,303,222	$28.48M	0.7%	$4.29	—	COM	Y7542C106
—	SL Green Realty Corp.	275,807	$27.95M	0.7%	$107.27	—	COM	78440X101
F	Ford Motor Company	2,265,509	$27.12M	0.7%	$8.00	-9.3%	COM	345370860
NTES	NetEase, Inc. Sponsored ADR	98,776	$26.06M	0.7%	$159.19	—	COM	64110W102
WMT	WAL-MART STORES, INC.	329,410	$25.74M	0.7%	$22.30	+2.7%	COM	931142103
MSFT	Microsoft Corporation	322,401	$24.02M	0.6%	$43.39	+53.7%	COM	594918104
—	ACTIVISION BLIZZARD INC	364,422	$23.51M	0.6%	$35.40	—	COM	00507V109
EPAM	EPAM Systems, Inc.	258,280	$22.71M	0.6%	$71.60	+16.5%	COM	29414B104
—	Level 3 Communications, Inc.	421,154	$22.44M	0.6%	$46.79	—	COM	52729N308
LOW	Lowe s Companies, Inc.	271,597	$21.71M	0.6%	$59.75	+9.9%	COM	548661107
—	CoreLogic, Inc.	462,193	$21.36M	0.6%	$37.86	—	COM	21871D103
IT	Gartner, Inc.	170,962	$21.27M	0.6%	$89.60	+37.9%	COM	366651107
ELV	Anthem, Inc.	111,340	$21.14M	0.6%	$126.96	+34.3%	COM	036752103
MS	Morgan Stanley	424,003	$20.42M	0.5%	$26.35	+37.6%	COM	617446448
MHK	Mohawk Industries, Inc.	79,676	$19.72M	0.5%	$199.80	+24.6%	COM	608190104
JPM	JPMorgan Chase & Co.	204,438	$19.53M	0.5%	$51.47	+43.1%	COM	46625H100
BIO	Bio-Rad Laboratories, Inc. Class A	87,858	$19.52M	0.5%	$148.82	+51.2%	COM	090572207
LIVN	LIVANOVA PLC	276,978	$19.41M	0.5%	$53.73	+17.9%	COM	G5509L101
CTSH	Cognizant Technology Solutions Corporation Class A	266,917	$19.36M	0.5%	$54.27	+15.1%	COM	192446102
DXC	DXC Technology Co	213,346	$18.32M	0.5%	$62.87	+7.2%	COM	23355L106
BIDU	BAIDU, INC. SPONSORED ADR CLASS A	72,854	$18.05M	0.5%	$156.62	—	COM	056752108
MO	Altria Group, Inc.	283,365	$17.97M	0.5%	$29.34	+23.0%	COM	02209S103
—	KKR & Co. L.P.	883,443	$17.96M	0.5%	$15.84	—	COM	48248M102
MKL	MARKEL CORPORATION	16,423	$17.54M	0.5%	$875.77	+18.1%	COM	570535104
—	PNC FINANCIAL SERVICES GROUP INC WARRANTS 2010-31.	259,545	$17.48M	0.5%	$22.33	—	CONV BONDS	693475121
HPE	HEWLETT PACKARD ENTERPRISE CO.	1,170,890	$17.22M	0.4%	$7.98	+32.3%	COM	42824C109
HCKT	Hackett Group, Inc.	1,132,277	$17.2M	0.4%	$14.40	+3.4%	COM	404609109
—	Sotheby s Class A	348,170	$16.05M	0.4%	$33.85	—	COM	835898107
GGG	Graco Inc.	129,590	$16.03M	0.4%	$21.94	+56.1%	COM	384109104
KR	Kroger Co.	784,807	$15.74M	0.4%	$25.42	-25.8%	COM	501044101
—	Hanesbrands Inc.	632,819	$15.59M	0.4%	$27.69	—	COM	410345102
RL	RALPH LAUREN CORPORATION CLASS A	174,778	$15.43M	0.4%	$81.92	-14.8%	COM	751212101
—	Discovery Communications, Inc. Class A	720,523	$15.34M	0.4%	$26.38	—	COM	25470F104
SMG	Scotts Miracle-Gro Company Class A	156,591	$15.24M	0.4%	$49.04	+44.9%	COM	810186106
INDA	iShares MSCI India ETF	455,024	$14.95M	0.4%	$29.82	—	COM	46429B598
—	Liberty Interactive Corporation QVC Group	627,345	$14.79M	0.4%	$24.86	—	COM	53071M104
PM	Philip Morris International Inc.	132,943	$14.76M	0.4%	$52.66	+42.9%	COM	718172109
—	DOWDUPONT INC	203,414	$14.08M	0.4%	$69.23	—	COM	26078J100
—	CAESARS ENTERTAINMENT CORPORATION	1,038,146	$13.86M	0.4%	$12.87	—	COM	127686103
—	Seagate Technology PLC	417,614	$13.85M	0.4%	$39.74	—	COM	G7945M107
DSX	DIANA SHIPPING INC.	3,566,045	$12.95M	0.3%	$2.14	+9.6%	COM	Y2066G104
—	Raytheon Company	69,301	$12.93M	0.3%	$120.62	—	COM	755111507
VRSK	Verisk Analytics, Inc. Class A	155,079	$12.9M	0.3%	$73.18	+8.2%	COM	92345Y106
NBIS	YANDEX N.V.	384,400	$12.67M	0.3%	$20.39	—	COM	N97284108
GRMN	Garmin Ltd.	233,971	$12.63M	0.3%	$31.63	+32.8%	COM	H2906T109
—	Kansas City Southern	113,532	$12.34M	0.3%	$95.10	—	COM	485170302
BMY	Bristol-Myers Squibb Company	192,519	$12.27M	0.3%	$44.88	-3.9%	COM	110122108
—	Liberty LiLAC Group Class C	511,857	$11.93M	0.3%	$27.83	—	COM	G5480U153
INTC	Intel Corporation	305,162	$11.62M	0.3%	$23.98	+23.4%	COM	458140100
—	Tribune Media Co. Class A	283,878	$11.6M	0.3%	$36.41	—	COM	896047503
—	LIBERTY SIRIUSXM GROUP CLASS C	274,785	$11.51M	0.3%	$31.75	—	COM	531229607
FCX	FREEPORT-MCMORAN, INC.	812,695	$11.41M	0.3%	$11.02	+15.6%	COM	35671D857
—	JPMORGAN CHASE & CO WARRANTS 2009-28.10.18 ON SHS	204,336	$11.05M	0.3%	$21.25	—	CONV BONDS	46634E114
WDC	Western Digital Corporation	125,793	$10.87M	0.3%	$45.91	+30.5%	COM	958102105
CPA	COPA HOLDINGS, S.A. CLASS A	84,965	$10.58M	0.3%	$50.46	+96.6%	COM	P31076105
—	FIRSTCASH INC.	165,288	$10.44M	0.3%	$47.42	—	COM	33767D105
—	WELLS FARGO & CO WARRANTS 2010-28.10.18 ON SHS	481,912	$10.39M	0.3%	$17.19	—	CONV BONDS	949746119
SCCO	SOUTHERN COPPER CORPORATION	260,788	$10.37M	0.3%	$18.03	+45.3%	COM	84265V105
DNOW	NOW Inc	750,436	$10.36M	0.3%	$17.80	-23.4%	COM	67011P100
MAS	Masco Corporation	262,950	$10.26M	0.3%	$24.21	+36.8%	COM	574599106
CHTR	Charter Communications Inc. Class A	28,001	$10.18M	0.3%	$221.29	+68.2%	COM	16119P108
—	LIBERTY SIRIUSXM GROUP CLASS A	238,310	$9.985M	0.3%	$32.31	—	COM	531229409
BFH	Alliance Data Systems Corporation	42,768	$9.475M	0.2%	$171.70	-5.9%	COM	018581108
GOOGL	Alphabet Inc. Class A	9,509	$9.259M	0.2%	$34.56	+36.2%	COM	02079K305
VIPS	VIPSHOP HOLDINGS LTD SPONSORED ADR	985,995	$8.667M	0.2%	$11.45	—	COM	92763W103
LBRDK	Liberty Broadband Corp. Class C	85,806	$8.177M	0.2%	$54.32	+65.9%	COM	530307305
TRIP	TripAdvisor, Inc.	198,692	$8.053M	0.2%	$62.06	-41.8%	COM	896945201
—	Andeavor	77,935	$8.039M	0.2%	$103.15	—	COM	03349M105
L	Loews Corporation	166,344	$7.961M	0.2%	$37.15	+23.4%	COM	540424108
SIG	Signet Jewelers Limited	119,049	$7.923M	0.2%	$91.49	-43.7%	COM	G81276100
TXN	TEXAS INSTRUMENTS INCORPORATED	88,227	$7.909M	0.2%	$42.16	+54.6%	COM	882508104
PZZA	PAPA JOHN`S INTERNATIONAL, INC.	105,161	$7.684M	0.2%	$55.37	+11.8%	COM	698813102
WHR	WHIRLPOOL CORPORATION	41,352	$7.627M	0.2%	$160.72	+11.3%	COM	963320106
—	USG Corporation	229,693	$7.499M	0.2%	$26.96	—	COM	903293405
—	WESTROCK CO.	129,161	$7.327M	0.2%	$51.20	—	COM	96145D105
LYB	LYONDELLBASELL INDUSTRIES NV	71,775	$7.109M	0.2%	$45.95	+18.7%	COM	N53745100
—	Liberty Lilac Group Class A	292,484	$6.949M	0.2%	$32.04	—	COM	G5480U138
CAR	Avis Budget Group, Inc.	180,181	$6.858M	0.2%	$37.12	-13.9%	COM	053774105
VECO	VEECO INSTRUMENTS INC.	309,987	$6.634M	0.2%	$25.35	-5.6%	COM	922417100
RYAAY	Ryanair Holdings Plc Sponsored ADR	62,310	$6.569M	0.2%	$77.04	—	COM	783513203
HPQ	HP Inc	323,708	$6.461M	0.2%	$9.53	+51.5%	COM	40434L105
SALTUSD	SCORPIO BULKERS, INC.	915,660	$6.455M	0.2%	$6.93	—	COM	Y7546A122
NOAH	NOAH HOLDINGS LTD. SPONSORED ADR CLASS A	199,088	$6.393M	0.2%	$23.80	—	COM	65487X102
VZ	Verizon Communications Inc.	125,216	$6.197M	0.2%	$28.69	+5.4%	COM	92343V104
GLNG	GOLAR LNG LIMITED	266,967	$6.036M	0.2%	$20.11	-4.1%	COM	G9456A100
—	America Movil SAB de CV Sponsored ADR Class L	339,281	$6.022M	0.2%	$15.78	—	COM	02364W105
GSM	FERROGLOBE PLC	452,370	$5.953M	0.2%	$9.12	+37.0%	COM	G33856108
LPX	Louisiana-Pacific Corporation	217,395	$5.887M	0.2%	$17.14	+48.7%	COM	546347105
—	CTRIP.COM INTERNATIONAL LTD. SPONSORED ADR	106,873	$5.636M	0.1%	$51.40	—	COM	22943F100
HAIN	HAIN CELESTIAL GROUP, INC.	131,547	$5.413M	0.1%	$41.33	0.0%	COM	405217100
—	MICRO FOCUS INTL PLC NPV ADR	160,787	$5.129M	0.1%	$31.90	—	COM	594837304
MCO	Moodys Corporation	36,676	$5.106M	0.1%	$94.62	+28.9%	COM	615369105
CF	CF Industries Holdings, Inc.	137,752	$4.843M	0.1%	$35.82	-30.4%	COM	125269100
THO	THOR INDUSTRIES, INC.	37,010	$4.66M	0.1%	$52.53	+72.8%	COM	885160101
LSAK	NET 1 UEPS TECHNOLOGIES, INC.	474,947	$4.626M	0.1%	$10.18	-5.1%	COM	64107N206
HBAN	Huntington Bancshares Incorporated	331,325	$4.625M	0.1%	$7.27	+25.0%	COM	446150104
—	CAPITAL ONE FINANCIAL CORP WARRANTS 2009-14.	107,800	$4.596M	0.1%	$30.66	—	CONV BONDS	14040H139
GLW	CORNING INCORPORATED	151,740	$4.54M	0.1%	$17.77	+32.7%	COM	219350105
KEX	KIRBY CORPORATION	65,520	$4.321M	0.1%	$63.75	-0.6%	COM	497266106
—	APACHE CORPORATION	90,924	$4.164M	0.1%	$49.68	—	COM	037411105
ADNT	ADIENT PLC	46,700	$3.922M	0.1%	$66.63	+4.6%	COM	G0084W101
MOS	MOSAIC COMPANY	174,242	$3.762M	0.1%	$23.30	-18.8%	COM	61945C103
—	Liberty Interactive Corp NPV	63,768	$3.67M	0.1%	$37.81	—	COM	53071M856
—	ILG INC NPV	133,293	$3.563M	0.1%	$18.57	—	COM	44967H101
AAP	ADVANCE AUTO PARTS, INC.	35,528	$3.524M	0.1%	$140.60	-37.0%	COM	00751Y106
—	Liberty TripAdvisor Holdings Inc Class A	269,948	$3.334M	0.1%	$21.24	—	COM	531465102
—	BROADCOM LIMITED	12,539	$3.041M	0.1%	$242.52	—	COM	Y09827109
HAL	Halliburton Company	62,162	$2.861M	0.1%	$33.85	+4.7%	COM	406216101
—	Leucadia National Corporation	108,855	$2.749M	0.1%	$20.21	—	COM	527288104
TUR	ISHARES MSCI TURKEY ETF	65,003	$2.718M	0.1%	$38.99	—	COM	464286715
EWY	ISHARES MSCI SOUTH KOREA CAP ETF	38,000	$2.624M	0.1%	$52.07	—	COM	464286772
COTY	Coty Inc. Class A	154,359	$2.552M	0.1%	$23.39	-30.5%	COM	222070203
—	STNG 2 3/8 07/01/19	2,785,000	$2.501M	0.1%	$0.91	—	CONV BONDS	80918TAA7
BLD	TOPBUILD CORP.	38,178	$2.488M	0.1%	$32.65	+73.1%	COM	89055F103
FLR	Fluor Corporation	50,081	$2.108M	0.1%	$44.38	-12.5%	COM	343412102
—	Liberty Media Corp Series C Liberty Formula One	54,578	$2.079M	0.1%	$20.55	—	COM	531229854
LBRDA	Liberty Broadband Corp. Class A	18,642	$1.756M	0.0%	$54.28	+64.7%	COM	530307107
—	Liberty Media Corp Series A Liberty Formula One	42,749	$1.56M	0.0%	$20.57	—	COM	531229870
—	NAVIOS MARITIME ACQUISITION CORPORATION	1,254,779	$1.531M	0.0%	$1.71	—	COM	Y62159101
NGVT	INGEVITY CORP	21,962	$1.372M	0.0%	$32.99	+79.5%	COM	45688C107
FNMA	Federal National Mortgage Association	430,531	$1.285M	0.0%	$2.32	+14.3%	COM	313586109
—	BANK OF AMERICA CORP WARRANTS 2009-28.10.18 ON SHS	1,595,477	$1.247M	0.0%	$0.96	—	CONV BONDS	060505153
—	Hertz Global Holdings	54,632	$1.222M	0.0%	$11.69	—	COM	42806J106
—	LIONS GATE ENTERTAINMENT CORP NPV	28,487	$906K	0.0%	$24.57	—	COM	535919500
HRI	Herc Holdings Inc	18,040	$886K	0.0%	$32.15	+24.2%	COM	42704L104
—	iHeartMedia, Inc. Class A	458,604	$711K	0.0%	$3.78	—	COM	45174J103
—	Liberty Braves Group - Class C	27,584	$697K	0.0%	$15.56	—	COM	531229888
—	Tronc Inc	47,408	$689K	0.0%	$14.14	—	COM	89703P107
—	CITIGROUP INC WARRANTS 2011-4.1.19 ON SHS	5,749,254	$662K	0.0%	$0.15	—	CONV BONDS	172967226
—	Liberty Expedia Holdings Inc NPV	11,585	$615K	0.0%	$40.20	—	COM	53046P109
—	COMMERCEHUB INC-SERIES C	21,982	$469K	0.0%	$15.98	—	COM	20084V306
—	NII HOLDINGS, INC ORD SHARES	921,777	$424K	0.0%	$5.20	—	COM	62913F508
KT	KT CORPORATION SPONSORED ADR	24,725	$343K	0.0%	$13.87	—	COM	48268K101
—	COMMERCEHUB INC-SERIES A	9,624	$217K	0.0%	$22.55	—	COM	20084V108