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
Estimated average burden
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 9,644 209,700 SH   SOLE NONE 0 0 209,700
HEWLETT PACKARD STK 42824C109 7,976 601,500 SH   SOLE   0 0 601,500
NOV INC STK 637071101 11,350 671,200 SH   SOLE   0 0 671,200
SOUTHWEST AIRLINES STK 844741108 8,452 234,000 SH   SOLE   0 0 234,000
SS&C TECHNOLOGIES STK 78467J100 7,299 125,700 SH   SOLE   0 0 125,700
ALLEGIANT TRAVEL STK 01748X102 3,370 29,800 SH   SOLE   29,800 0 0
BARRICK GOLD STK 067901108 2,766 156,424 SH   SOLE   156,424 0 0
BERKSHIRE HATHAWAY STK 084670702 116,703 427,453 SH   SOLE   427,453 0 0
BUENAVENTURA ADR 204448104 15,973 2,420,120 SH   SOLE   2,420,120 0 0
CITIGROUP STK 172967424 85,729 1,864,074 SH   SOLE   1,864,074 0 0
COLLIERS INTERNATIONAL STK 194693107 273 3,200 SH   SOLE   3,200 0 0
EMBRAER ADR 29082A107 23,235 2,646,403 SH   SOLE   2,646,403 0 0
GAIA STK 36269P104 666 156,725 SH   SOLE   156,725 0 0
GENERAL MOTORS STK 37045V100 184 5,800 SH   SOLE   5,800 0 0
HALLADOR ENERGY STK 40609P105 1,230 227,362 SH   SOLE   227,362 0 0
HEWLETT PACKARD STK 42824C109 57,145 4,309,591 SH   SOLE   4,309,591 0 0
INFOSYS ADR 456788108 11,646 629,198 SH   SOLE   629,198 0 0
NETFLIX INC STK 64110L106 822 4,700 SH   SOLE   4,700 0 0
NOV INC STK 637071101 111,252 6,579,091 SH   SOLE   6,579,091 0 0
OCEANEERING STK 675232102 1,383 129,529 SH   SOLE   129,529 0 0
PETROBRAS ADR 71654V101 18,701 1,759,223 SH   SOLE   1,759,223 0 0
PHILIP MORRIS STK 718172109 2,686 27,200 SH   SOLE   27,200 0 0
PROGRESSIVE STK 743315103 1,523 13,100 SH   SOLE   13,100 0 0
SAMSUNG ELECTRONICS GDR 796050888 924 847 SH   SOLE   847 0 0
SOUTHWEST AIRLINES STK 844741108 71,994 1,993,200 SH   SOLE   1,993,200 0 0
SS&C TECHNOLOGIES STK 78467J100 64,806 1,116,000 SH   SOLE   1,116,000 0 0
SYNCHRONY FINANCIAL STK 87165B103 1,643 59,500 SH   SOLE   59,500 0 0
TELKOM INDONESIA ADR 715684106 24,441 903,889 SH   SOLE   903,889 0 0
TURKCELL ADR 900111204 32,758 3,777,953 SH   SOLE   3,777,953 0 0