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
ADOBE INC COM 00724F101 3,394 15,000 SH   SOLE   15,000 0 0
ALBANY INTL CORP-CL A COM 012348108 1,517 24,307 SH   SOLE   24,307 0 0
ALPHABET INC-CL A COM 02079K305 4,180 4,000 SH   SOLE   4,000 0 0
APPLE INC COM 037833100 18,768 118,980 SH   SOLE   118,980 0 0
ARCO PLATFORM LTD - CLASS A COM G04553106 1,882 85,100 SH   SOLE   85,100 0 0
ARES CAPITAL CORP COM 04010L103 662 42,467 SH   SOLE   42,467 0 0
ASSURANT INC COM 04621X108 926 10,349 SH   SOLE   10,349 0 0
BARINGS BDC INC COM 06759L103 407 45,224 SH   SOLE   45,224 0 0
BERRY GLOBAL GROUP INC COM 08579W103 3,018 63,500 SH   SOLE   63,500 0 0
CENTRAL PACIFIC FINANCIAL CO COM 154760409 363 14,912 SH   SOLE   14,912 0 0
CENTURY CASINOS INC COM 156492100 148 20,007 SH   SOLE   20,007 0 0
CORE-MARK HOLDING CO INC COM 218681104 480 20,642 SH   SOLE   20,642 0 0
CORP AMERICA AIRPORTS SA COM L1995B107 2,435 367,200 SH   SOLE   367,200 0 0
CRA INTERNATIONAL INC COM 12618T105 334 7,850 SH   SOLE   7,850 0 0
CTS CORP COM 126501105 417 16,098 SH   SOLE   16,098 0 0
DENNY'S CORP COM 24869P104 761 46,937 SH   SOLE   46,937 0 0
DICK'S SPORTING GOODS INC COM 253393102 370 11,854 SH   SOLE   11,854 0 0
DSW INC-CLASS A COM 23334L102 647 26,214 SH   SOLE   26,214 0 0
EAGLE MATERIALS INC COM 26969P108 660 10,817 SH   SOLE   10,817 0 0
ECHOSTAR CORP-A COM 278768106 1,247 33,962 SH   SOLE   33,962 0 0
EMBRAER SA-SPON ADR COM 29082A107 1,107 50,000 SH   SOLE   50,000 0 0
ESSENTIAL PROPERTIES REALTY COM 29670E107 759 54,833 SH   SOLE   54,833 0 0
EXTENDED STAY AMERICA INC COM 30224P200 1,204 77,688 SH   SOLE   77,688 0 0
FACEBOOK INC-CLASS A COM 30303M102 3,277 25,000 SH   SOLE   25,000 0 0
FEDERAL SIGNAL CORP COM 313855108 471 23,673 SH   SOLE   23,673 0 0
GCI LIBERTY INC - CLASS A COM 36164V305 672 16,325 SH   SOLE   16,325 0 0
GLOBAL X COPPER MINERS ETF COM 37954Y830 18,605 1,016,124 SH   SOLE   1,016,124 0 0
HOWARD BANCORP INC COM 442496105 180 12,606 SH   SOLE   12,606 0 0
HUDSON LTD-CLASS A COM G46408103 646 37,651 SH   SOLE   37,651 0 0
ISHARES CONVERTIBLE BOND ETF COM 46435G102 67,226 1,280,000 SH   SOLE   1,280,000 0 0
ISHARES EDGE MSCI MIN VOL EM COM 464286533 5,833 104,406 SH   SOLE   104,406 0 0
ISHARES EXPANDED TECH-SOFTWA COM 464287515 2,603 15,000 SH   SOLE   15,000 0 0
ISHARES MSCI BRAZIL ETF COM 464286400 9,550 250,000 SH   SOLE   250,000 0 0
ISHARES MSCI EMERGING MARKET ETF 464287234 3,203 82,000 SH   SOLE   82,000 0 0
ISHARES MSCI JAPAN ETF ETF 46434G822 3,548 70,000 SH   SOLE   70,000 0 0
ISHARES NASDAQ BIOTECHNOLOGY COM 464287556 3,857 40,000 SH   SOLE   40,000 0 0
ISHARES PHLX SEMICONDUCTOR E ETF 464287523 7,061 45,000 SH   SOLE   45,000 0 0
ISHARES U.S. MEDICAL DEVICES COM 464288810 5,595 28,000 SH   SOLE   28,000 0 0
KADANT INC COM 48282T104 774 9,500 SH   SOLE   9,500 0 0
KRANESHARES CSI CHINA INTERN COM 500767306 1,133 30,200 SH   SOLE   30,200 0 0
LANDMARK INFRASTRUCTURE PART COM 51508J108 133 11,540 SH   SOLE   11,540 0 0
LORAL SPACE & COMMUNICATIONS COM 543881106 513 13,766 SH   SOLE   13,766 0 0
MAGELLAN HEALTH INC COM 559079207 422 7,426 SH   SOLE   7,426 0 0
MAXIMUS INC COM 577933104 929 14,271 SH   SOLE   14,271 0 0
MCGRATH RENTCORP COM 580589109 1,004 19,505 SH   SOLE   19,505 0 0
MFA FINANCIAL INC COM 55272X102 727 108,827 SH   SOLE   108,827 0 0
MOTOROLA SOLUTIONS INC COM 620076307 1,150 10,000 SH   SOLE   10,000 0 0
MRC GLOBAL INC COM 55345K103 785 64,179 SH   SOLE   64,179 0 0
MUELLER WATER PRODUCTS INC-A COM 624758108 635 69,817 SH   SOLE   69,817 0 0
MURPHY USA INC COM 626755102 745 9,727 SH   SOLE   9,727 0 0
NATIONAL BANK HOLD-CL A COM 633707104 615 19,923 SH   SOLE   19,923 0 0
NATIONAL GENERAL HLDGS COM 636220303 809 33,411 SH   SOLE   33,411 0 0
NEXA RESOURCES SA COM L67359106 5,195 436,580 SH   SOLE   436,580 0 0
NEXEO SOLUTIONS INC COM 65342H102 3,007 350,000 SH   SOLE   350,000 0 0
NEXSTAR MEDIA GROUP INC-CL A COM 65336K103 1,289 16,391 SH   SOLE   16,391 0 0
NIKE INC -CL B COM 654106103 1,950 26,300 SH   SOLE   26,300 0 0
NVIDIA CORP COM 67066G104 1,335 10,000 SH   SOLE   10,000 0 0
OCEANFIRST FINANCIAL CORP COM 675234108 653 29,029 SH   SOLE   29,029 0 0
PACIFIC PREMIER BANCORP INC COM 69478X105 699 27,402 SH   SOLE   27,402 0 0
PETROLEO BRASIL-SP PREF ADR ADR 71654V101 2,898 250,000 SH   SOLE   250,000 0 0
POTLATCHDELTIC CORP COM 737630103 646 20,413 SH   SOLE   20,413 0 0
PRIMERICA INC COM 74164M108 856 8,764 SH   SOLE   8,764 0 0
PROVIDENCE SERVICE CORP COM 743815102 722 12,021 SH   SOLE   12,021 0 0
REGIS CORP COM 758932107 839 49,517 SH   SOLE   49,517 0 0
RENASANT CORP COM 75970E107 225 7,445 SH   SOLE   7,445 0 0
REX AMERICAN RESOURCES CORP COM 761624105 381 5,599 SH   SOLE   5,599 0 0
SHERWIN-WILLIAMS CO/THE COM 824348106 31,496 80,050 SH   SOLE   80,050 0 0
SHERWIN-WILLIAMS CO/THE COM 824348106 5,827 14,810 SH   SOLE   14,810 0 0
SIMPSON MANUFACTURING CO INC COM 829073105 1,111 20,531 SH   SOLE   20,531 0 0
SMART GLOBAL HOLDINGS INC COM G8232Y101 323 10,876 SH   SOLE   10,876 0 0
SPECTRUM BRANDS HOLDINGS INC COM 84790A105 645 15,273 SH   SOLE   15,273 0 0
SPOTIFY TECHNOLOGY SA COM L8681T102 1,703 15,000 SH   SOLE   15,000 0 0
STAR GROUP LP COM 85512C105 325 34,792 SH   SOLE   34,792 0 0
TAKE-TWO INTERACTIVE SOFTWRE COM 874054109 2,574 25,000 SH   SOLE   25,000 0 0
TCF FINANCIAL CORP COM 872275102 387 19,866 SH   SOLE   19,866 0 0
TFS FINANCIAL CORP COM 87240R107 582 36,112 SH   SOLE   36,112 0 0
TILE SHOP HLDGS INC COM 88677Q109 121 22,044 SH   SOLE   22,044 0 0
TRISTATE CAPITAL HLDGS INC COM 89678F100 336 17,264 SH   SOLE   17,264 0 0
TRIUMPH BANCORP INC COM 89679E300 410 13,810 SH   SOLE   13,810 0 0
VIRTUS INVESTMENT PARTNERS COM 92828Q109 775 9,756 SH   SOLE   9,756 0 0
WADDELL & REED FINANCIAL-A COM 930059100 395 21,823 SH   SOLE   21,823 0 0
WASHINGTON FEDERAL INC COM 938824109 839 31,412 SH   SOLE   31,412 0 0
XENIA HOTELS & RESORTS INC COM 984017103 486 28,230 SH   SOLE   28,230 0 0