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
ALLIANCE DATA SYSTEMS CORP COM 018581108 136,114 592,443 SH   SOLE   592,443 0 0
ALPHABET INC CAP STK CL A 02079K305 2,775 3,483 SH   SOLE   3,483 0 0
ANGLOGOLD ASHANTI LTD SPONS ADR 035128206 23,152 2,190,942 SH   SOLE   2,190,942 0 0
APACHE CORP COM 037411105 1,276 20,000 SH   SOLE   20,000 0 0
APPLE INC COM 037833100 92,229 792,136 SH   SOLE   792,136 0 0
ARCH CAP GROUP LTD ORD G0450A105 520 6,000 SH   SOLE   6,000 0 0
BANK AMER CORP W EXP 01/16/201 060505146 651 64,800 SH   SOLE   64,800 0 0
BARRICK GOLD CORP COM 067901108 8,718 669,325 SH   SOLE   669,325 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,639 10,000 SH   SOLE   10,000 0 0
BANK AMER CORP WEXP10/28/201 060505153 1,243 1,254,000 SH   SOLE   1,254,000 0 0
BLACKBERRY LTD COM 09228F103 986 142,500 SH   SOLE   142,500 0 0
CALLAWAY GOLF CO COM 131193104 920 83,600 SH   SOLE   83,600 0 0
CANADIAN SOLAR INC COM 136635109 11,714 955,843 SH   SOLE   955,843 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 460 57,021 SH   SOLE   57,021 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 948 2,500 SH   SOLE   2,500 0 0
CISCO SYS INC COM 17275R102 3,661 120,454 SH   SOLE   120,454 0 0
CONTINENTAL BLDG PRODS INC COM 211171103 1,588 68,500 SH   SOLE   68,500 0 0
COWEN GROUP INC NEW CL A 223622606 555 35,705 SH   SOLE   35,705 0 0
DIANA SHIPPING INC COM Y2066G104 284 93,887 SH   SOLE   93,887 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 825 9,057 SH   SOLE   9,057 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 6,974 1,318,007 SH   SOLE   1,318,007 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 1,080 14,635 SH   SOLE   14,635 0 0
DUN & BRADSTREET CORP DEL NE COM 26483E100 1,386 11,370 SH   SOLE   11,370 0 0
EMERSON ELEC CO COM 291011104 85,995 1,534,758 SH   SOLE   1,534,758 0 0
EXXON MOBIL CORP COM 30231G102 202,095 2,227,728 SH   SOLE   2,227,728 0 0
FLUOR CORP NEW COM 343412102 1,056 20,000 SH   SOLE   20,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,000 75,459 SH   SOLE   75,459 0 0
GENERAL DYNAMICS COM 369550108 1,311 7,550 SH   SOLE   7,550 0 0
GILEAD SCIENCES INC COM 375558103 42,985 597,176 SH   SOLE   597,176 0 0
Gold Fields Ltd SPONS ADR 38059T106 26,002 8,567,262 SH   SOLE   8,567,262 0 0
GOLDCORP INC NEW COM 380956409 11,240 822,058 SH   SOLE   822,058 0 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 2,505 1,125,453 SH   SOLE   1,125,453 0 0
HOLLYSYS AUTOMATION TECHNOLO SHS G45667105 5,695 309,390 SH   SOLE   309,390 0 0
INGEVITY CORP COM 45688C107 17,147 311,077 SH   SOLE   311,077 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 917 16,000 SH   SOLE   16,000 0 0
JOHNSON & JOHNSON COM 478160104 1,996 17,230 SH   SOLE   17,230 0 0
JPMORGAN CHASE & CO COM 46625H100 9,982 115,048 SH   SOLE   115,048 0 0
KINROSS GOLD CORP COM NO PAR 496902404 40,294 13,107,449 SH   SOLE   13,107,449 0 0
KLX INC COM 482539103 567 12,500 SH   SOLE   12,500 0 0
LEIDOS HLDGS INC COM 525327102 1,758 34,200 SH   SOLE   34,200 0 0
LENNAR CORP CL A 526057104 71,722 1,662,608 SH   SOLE   1,662,608 0 0
LEUCADIA NATL CORP COM 527288104 87,596 3,749,747 SH   SOLE   3,749,747 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 7,657 256,400 SH   SOLE   256,400 0 0
MARSH & MCLENNAN COS INC COM 571748102 465 6,850 SH   SOLE   6,850 0 0
MERCK & CO INC NEW COM 58933Y105 1,000 16,900 SH   SOLE   16,900 0 0
MICROSOFT CORP COM 594918104 105,497 1,688,942 SH   SOLE   1,688,942 0 0
MONSANTO CO NEW COM 61166W101 635 6,000 SH   SOLE   6,000 0 0
NEWMONT MINING CORP COM 651639106 617 18,022 SH   SOLE   18,022 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 1,156 16,150 SH   SOLE   16,150 0 0
ORACLE CORP COM 68389X105 151,878 3,929,971 SH   SOLE   3,929,971 0 0
PEPSICO INC COM 713448108 1,962 18,650 SH   SOLE   18,650 0 0
PERSHING GOLD CORP COM NEW 715302204 476 145,421 SH   SOLE   145,421 0 0
PHILLIPS 66 COM 718546104 87,285 1,005,017 SH   SOLE   1,005,017 0 0
PROCTER & GAMBLE CO COM 742718109 979 11,575 SH   SOLE   11,575 0 0
QUALCOMM INC COM 747525103 34,691 529,202 SH   SOLE   529,202 0 0
REPUBLIC SVCS INC COM 760759100 700 12,200 SH   SOLE   12,200 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 303 5,200 SH   SOLE   5,200 0 0
SANOFI RIGHT 12/31/2020 80105N113 5 14,000 SH   SOLE   14,000 0 0
SEACOR HOLDINGS INC COM 811904101 1,686 23,500 SH   SOLE   23,500 0 0
SERITAGE GROWTH PPTYS CL A 81752R100 958 22,325 SH   SOLE   22,325 0 0
SILVER STD RES INC NOTE 2.875% 2/0 82823LAC0 5,345 5,561,000 SH   SOLE   5,561,000 0 0
SILVER WHEATON CORP COM 828336107 25,925 1,532,984 SH   SOLE   1,532,984 0 0
TENARIS S A SPONSORED ADR 88031M109 93,526 2,605,006 SH   SOLE   2,605,006 0 0
BOEING CO COM 097023105 99,495 635,551 SH   SOLE   635,551 0 0
THOMSON REUTERS CORP COM 884903105 4,507 126,250 SH   SOLE   126,250 0 0
TWITTER INC COM 90184L102 193 11,800 SH   SOLE   11,800 0 0
ULTRAPAR PARTICIPACOES S A SP ADR REP COM 90400P101 10,288 493,455 SH   SOLE   493,455 0 0
BANCORP DEL COM NEW 902973304 3,369 65,240 SH   SOLE   65,240 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 2,461 117,325 SH   SOLE   117,325 0 0
VANECK VECTORS ETF TR JR GOLD MINERS E 92189F791 1,381 43,485 SH   SOLE   43,485 0 0
VASCULAR SOLUTIONS INC COM 92231M109 1,127 20,000 SH   SOLE   20,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 3,047 56,780 SH   SOLE   56,780 0 0
WAL MART STORES INC COM 931142103 2,307 33,198 SH   SOLE   33,198 0 0
DISNEY WALT CO COM DISNEY 254687106 115,027 1,097,550 SH   SOLE   1,097,550 0 0
WESCO AIRCRAFT HLDGS INC COM 950814103 1,098 73,200 SH   SOLE   73,200 0 0
WESTROCK CO COM 96145D105 8,706 170,572 SH   SOLE   170,572 0 0
YUM BRANDS INC COM 988498101 446 7,000 SH   SOLE   7,000 0 0