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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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 48,217 28,366 SH   SOLE   28,366 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 2,449 12,370 SH   SOLE   12,370 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 16,358 58 SH   SOLE   58 0 0
BIO RAD LABS INC CL A 090572207 43,110 149,407 SH   SOLE   149,407 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 12,607 505,474 SH   SOLE   505,474 0 0
CAPELLA EDUCATION COMPANY COM 139594105 6,170 62,516 SH   SOLE   62,516 0 0
FARO TECHNOLOGIES INC COM 311642102 20,014 368,236 SH   SOLE   368,236 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 14,732 66,791 SH   SOLE   66,791 0 0
ALPHABET INC CAP STK CL A 02079K305 14,209 12,583 SH   SOLE   12,583 0 0
ALPHABET INC CAP STK CL C 02079K107 9,412 8,436 SH   SOLE   8,436 0 0
ISHARES TR MSCI INDIA ETF 46429B598 5,811 174,550 SH   SOLE   174,550 0 0
INOVALON HLDGS INC COM CL A 45781D101 19,431 1,957,800 SH   SOLE   1,957,800 0 0
NATIONAL INSTRS CORP COM 636518102 20,295 483,455 SH   SOLE   483,455 0 0
QAD INC CL A 74727D306 49,155 980,150 SH   SOLE   980,150 0 0
QAD INC CL B 74727D207 3,432 85,907 SH   SOLE   85,907 0 0
QIAGEN NV SHS NEW N72482123 16,017 442,942 SH   SOLE   442,942 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 12,550 46,264 SH   SOLE   46,264 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 4,650 110,180 SH   SOLE   110,180 0 0