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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hours per response: 23.8
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
CITIGROUP STK 172967424 11,097 209,700 SH   SOLE   0 0 209,700
HEWLETT PACKARD STK 42824C109 9,690 601,500 SH   SOLE   0 0 601,500
NOV INC STK 637071101 13,666 671,200 SH   SOLE   0 0 671,200
SOUTHWEST AIRLINES STK 844741108 11,080 234,000 SH   SOLE   0 0 234,000
SS&C TECHNOLOGIES STK 78467J100 9,025 125,700 SH   SOLE   0 0 125,700
ALLEGIANT TRAVEL STK 01748X102 5,749 35,000 SH   SOLE   35,000 0 0
BARRICK GOLD STK 067901108 5,700 228,024 SH   SOLE   228,024 0 0
BERKSHIRE HATHAWAY STK 084670702 152,905 438,753 SH   SOLE   438,753 0 0
BUENAVENTURA ADR 204448104 28,456 2,754,720 SH   SOLE   2,754,720 0 0
CITIGROUP STK 172967424 101,229 1,912,874 SH   SOLE   1,912,874 0 0
COLLIERS INT. STK 194693107 510 4,100 SH   SOLE   4,100 0 0
EMBRAER ADR 29082A107 35,982 2,976,203 SH   SOLE   2,976,203 0 0
GAIA STK 36269P104 807 156,725 SH   SOLE   156,725 0 0
GENERAL MOTORS STK 37045V100 421 10,000 SH   SOLE   10,000 0 0
HALLADOR ENERGY STK 40609P105 1,549 305,504 SH   SOLE   305,504 0 0
HEWLETT PACKARD STK 42824C109 71,217 4,420,691 SH   SOLE   4,420,691 0 0
INFOSYS ADR 456788108 20,120 985,298 SH   SOLE   985,298 0 0
NOV INC STK 637071101 137,037 6,730,691 SH   SOLE   6,730,691 0 0
OCEANEERING STK 675232102 1,342 87,429 SH   SOLE   87,429 0 0
PETROBRAS ADR 71654V101 27,014 2,002,523 SH   SOLE   2,002,523 0 0
PHILIP MORRIS STK 718172109 4,329 42,200 SH   SOLE   42,200 0 0
PROGRESSIVE STK 743315103 1,923 17,300 SH   SOLE   17,300 0 0
SOUTHWEST AIRLINES STK 844741108 96,831 2,045,000 SH   SOLE   2,045,000 0 0
SS&C TECHNOLOGIES STK 78467J100 82,886 1,154,400 SH   SOLE   1,154,400 0 0
SYNCHRONY FINANCIAL STK 87165B103 3,048 74,900 SH   SOLE   74,900 0 0
TELKOM INDONESIA ADR 715684106 33,861 1,028,889 SH   SOLE   1,028,889 0 0
TERNIUM ADR 880890108 39,208 789,536 SH   SOLE   789,536 0 0
TURKCELL ADR 900111204 13,716 3,481,217 SH   SOLE   3,481,217 0 0