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
AMAZON COM INC COM 023135106 23,247 26,222 SH   SOLE   26,222 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 1,643 12,370 SH   SOLE   12,370 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 14,491 58 SH   SOLE   58 0 0
BIO RAD LABS INC CL A 090572207 27,510 138,007 SH   SOLE   138,007 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 10,197 403,529 SH   SOLE   403,529 0 0
CAPELLA EDUCATION COMPANY COM 139594105 3,351 39,416 SH   SOLE   39,416 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 12,770 55,591 SH   SOLE   55,591 0 0
ALPHABET INC CAP STK CL A 02079K305 10,668 12,583 SH   SOLE   12,583 0 0
ALPHABET INC CAP STK CL C 02079K107 4,869 5,869 SH   SOLE   5,869 0 0
ISHARES TR MSCI INDIA ETF 46429B598 627 19,900 SH   SOLE   19,900 0 0
INOVALON HLDGS INC COM CL A 45781D101 12,512 993,000 SH   SOLE   993,000 0 0
NATIONAL INSTRS CORP COM 636518102 14,335 440,255 SH   SOLE   440,255 0 0
QAD INC CL A 74727D306 27,297 980,150 SH   SOLE   980,150 0 0
QAD INC CL B 74727D207 2,062 85,907 SH   SOLE   85,907 0 0
QIAGEN NV SHS NEW N72482123 10,306 355,742 SH   SOLE   355,742 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 12,733 54,014 SH   SOLE   54,014 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,993 50,180 SH   SOLE   50,180 0 0