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
AMAZON COM INC COM 023135106 18,765 26,222 SH   SOLE   26,222 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 1,227 12,370 SH   SOLE   12,370 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 14,754 68 SH   SOLE   68 0 0
BIO RAD LABS INC CL A 090572207 19,738 138,007 SH   SOLE   138,007 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 9,418 403,529 SH   SOLE   403,529 0 0
CAPELLA EDUCATION COMPANY COM 139594105 2,075 39,416 SH   SOLE   39,416 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 8,260 55,591 SH   SOLE   55,591 0 0
ALPHABET INC CAP STK CL A 02079K305 8,853 12,583 SH   SOLE   12,583 0 0
ALPHABET INC CAP STK CL C 02079K107 4,062 5,869 SH   SOLE   5,869 0 0
ISHARES INDIA 50 ETF 464289529 556 19,900 SH   SOLE   19,900 0 0
NATIONAL INSTRS CORP COM 636518102 18,373 670,555 SH   SOLE   670,555 0 0
QAD INC CL A 74727D306 20,543 1,066,072 SH   SOLE   1,066,072 0 0
QAD INC CL B 74727D207 1,486 85,907 SH   SOLE   85,907 0 0
QIAGEN NV REG SHS N72482107 8,057 369,425 SH   SOLE   369,425 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 20,961 100,064 SH   SOLE   100,064 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,752 49,740 SH   SOLE   49,740 0 0
VERINT SYS INC COM 92343X100 11,939 360,354 SH   SOLE   360,354 0 0