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
3M CO COM 88579Y101 676,432 3,902,344 SH   SOLE   3,669,086 0 233,258
AEROJET ROCKETDYNE HLDGS INC COM 007800105 9,378 209,477 SH   DFND 1 0 209,477 0
AGNICO EAGLE MINES LTD COM 008474108 580,152 11,315,782 SH   SOLE   10,840,141 0 475,641
AKOUSTIS TECHNOLOGIES INC COM 00973N102 1,949 304,490 SH   SOLE   304,490 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 22,197 3,679,538 SH   SOLE   3,679,538 0 0
ALBEMARLE CORP COM 012653101 2,288 2,500 SH Call DFND 1 0 2,500 0
ALBEMARLE CORP COM 012653101 1,140 1,500 SH Call DFND 1 0 1,500 0
ALLEGHANY CORP DEL COM 017175100 433,481 636,433 SH   SOLE   604,048 0 32,385
ALLERGAN PLC SHS G0177J108 42,440 253,479 SH   DFND 1 0 253,479 0
ALPHABET INC CAP STK CL C 02079K107 253,257 234,300 SH   SOLE   217,820 0 16,480
ALPHABET INC CAP STK CL A 02079K305 194,955 180,047 SH   SOLE   172,823 0 7,224
AMERICAN EXPRESS CO COM 025816109 548,011 4,439,493 SH   SOLE   4,176,002 0 263,491
AMERIPRISE FINL INC COM 03076C106 3,095 21,324 SH   SOLE   21,324 0 0
ANALOG DEVICES INC COM 032654105 476,287 4,219,788 SH   SOLE   3,983,059 0 236,729
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 28,207 1,583,771 SH   SOLE   1,583,771 0 0
ANTHEM INC COM 036752103 474,004 1,679,615 SH   SOLE   1,582,621 0 96,994
AON PLC SHS CL A G0408V102 33,654 174,389 SH   DFND 1 0 174,389 0
ARC GROUP WORLDWIDE INC COM 00213H105 971 2,158,467 SH   SOLE   2,158,467 0 0
ARQULE INC COM 04269E107 175,374 15,928,628 SH   SOLE   15,928,628 0 0
B2GOLD CORP COM 11777Q209 43,090 14,178,157 SH   SOLE   14,178,157 0 0
BALL CORP COM 058498106 72,732 1,039,172 SH   DFND 1 0 1,039,172 0
BANK NEW YORK MELLON CORP COM 064058100 804,390 18,219,472 SH   SOLE   17,093,595 0 1,125,877
BARRICK GOLD CORPORATION COM 067901108 762,155 48,329,394 SH   SOLE   46,300,950 0 2,028,444
BB&T CORP COM 054937107 641,810 13,063,509 SH   SOLE   12,349,216 0 714,293
BERKLEY W R CORP COM 084423102 502,975 7,628,931 SH   SOLE   7,124,334 0 504,597
BERKSHIRE HATHAWAY INC DEL CL A 084670108 390,934 1,228 SH   SOLE   1,156 0 72
BIOLIFE SOLUTIONS INC COM NEW 09062W204 3,010 177,578 SH   SOLE   177,578 0 0
BLOCK H & R INC COM 093671105 166,153 5,670,746 SH   SOLE   5,348,796 0 321,950
BOOKING HLDGS INC COM 09857L108 291,517 155,500 SH   SOLE   145,840 0 9,660
BROWN & BROWN INC COM 115236101 376,643 11,243,077 SH   SOLE   10,622,226 0 620,851
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 579,110 6,865,562 SH   SOLE   6,467,849 0 397,713
CASSAVA SCIENCES INC COM 14817C107 2,051 1,695,395 SH   SOLE   1,695,395 0 0
CENOVUS ENERGY INC COM 15135U109 228,341 25,889,025 SH   SOLE   24,583,312 0 1,305,713
COLGATE PALMOLIVE CO COM 194162103 917,376 12,799,997 SH   SOLE   12,062,415 0 737,582
COMCAST CORP NEW CL A 20030N101 1,456,727 34,454,278 SH   SOLE   32,369,998 0 2,084,280
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 207,518 7,345,787 SH   SOLE   7,266,287 0 79,500
CONDUENT INC COM 206787103 11,615 1,211,203 SH   DFND 1 0 1,211,203 0
CONOCOPHILLIPS COM 20825C104 205,201 3,363,944 SH   SOLE   3,171,686 0 192,258
CONSTELLATION PHARMCETICLS I COM 210373106 350 28,464 SH   SOLE   28,464 0 0
CREE INC COM 225447101 29,084 517,700 SH   DFND 1 0 517,700 0
CUI GLOBAL INC COM NEW 126576206 2,795 3,400,542 SH   SOLE   3,400,542 0 0
CUMMINS INC COM 231021106 396,142 2,312,020 SH   SOLE   2,177,856 0 134,164
DCP MIDSTREAM LP COM UT LTD PTN 23311P100 74,387 2,538,805 SH   SOLE   2,538,805 0 0
DEERE & CO COM 244199105 790,933 4,772,994 SH   SOLE   4,493,366 0 279,628
DENTSPLY SIRONA INC COM 24906P109 369,759 6,335,828 SH   SOLE   5,964,087 0 371,741
DURECT CORP COM 266605104 17,263 26,476,546 SH   SOLE   26,476,546 0 0
EASTMAN KODAK CO COM NEW 277461406 3,267 1,361,118 SH   SOLE   1,361,118 0 0
ENTEGRIS INC COM 29362U104 10,938 293,100 SH   DFND 1 0 293,100 0
EQUIFAX INC COM 294429105 17,705 130,916 SH   DFND 1 0 130,916 0
EQUIFAX INC COM 294429105 13,400 2,500 SH Call DFND 1 0 2,500 0
EQUIFAX INC COM 294429105 2,435 500 SH Call DFND 1 0 500 0
EXXON MOBIL CORP COM 30231G102 1,442,722 18,827,113 SH   SOLE   18,030,668 0 796,445
FACEBOOK INC CL A 30303M102 425,439 2,204,347 SH   SOLE   2,064,845 0 139,502
FLOWSERVE CORP COM 34354P105 638,977 12,127,106 SH   SOLE   11,483,984 0 643,122
FRANCO NEVADA CORP COM 351858105 366,990 4,323,816 SH   SOLE   4,133,519 0 190,297
FRONTDOOR INC COM 35905A109 35,005 803,799 SH   DFND 1 0 803,799 0
GENERAL DYNAMICS CORP COM 369550108 37,391 205,647 SH   DFND 1 0 205,647 0
HALOZYME THERAPEUTICS INC COM 40637H109 29,142 1,696,275 SH   DFND 1 0 1,696,275 0
HAYMAKER ACQUISITION CORP II UNIT 10/31/2026 42087L200 10,145 1,000,000 SH   SOLE   1,000,000 0 0
HCA HEALTHCARE INC COM 40412C101 320,000 2,367,387 SH   SOLE   2,232,709 0 134,678
HP INC COM 40434L105 36,399 1,750,809 SH   DFND 1 0 1,750,809 0
HUNTSMAN CORP COM 447011107 16,112 788,266 SH   DFND 1 0 788,266 0
IDENTIV INC COM NEW 45170X205 9,487 1,853,004 SH   SOLE   1,853,004 0 0
IMPERIAL OIL LTD COM NEW 453038408 617,060 22,285,460 SH   SOLE   21,223,265 0 1,062,195
INDEPENDENCE HLDG CO NEW COM NEW 453440307 4,237 109,423 SH   SOLE   109,423 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 900 500,000 SH   SOLE   500,000 0 0
INNOVIVA INC COM 45781M101 15,790 1,084,500 SH   DFND 1 0 1,084,500 0
INTELLICHECK INC COM NEW 45817G201 10,125 1,748,678 SH   SOLE   1,748,678 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 27,340 318,127 SH   DFND 1 0 318,127 0
INTEVAC INC COM 461148108 21,893 4,523,414 SH   SOLE   4,523,414 0 0
INTREXON CORP COM 46122T102 6,455 842,665 SH   DFND 1 0 842,665 0
IPG PHOTONICS CORP COM 44980X109 255,341 1,655,373 SH   SOLE   1,541,840 0 113,533
ISRAEL CHEMICALS LTD SHS M5920A109 28,064 5,358,730 SH   SOLE   5,120,346 0 238,384
JPMORGAN CHASE & CO COM 46625H100 3,354 30,000 SH   SOLE   30,000 0 0
KINROSS GOLD CORP COM 496902404 11,344 2,923,756 SH   SOLE   2,923,756 0 0
KKR & CO INC CL A 48251W104 36,889 1,459,780 SH   DFND 1 0 1,459,780 0
KNOWLES CORP COM 49926D109 2,220 121,241 SH   SOLE   121,241 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 15,803 91,400 SH   DFND 1 0 91,400 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 620 22,989 SH   SOLE   22,989 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 98,584 3,715,944 SH   SOLE   3,535,910 0 180,034
LIBERTY LATIN AMERICA LTD COM CL A G9001E102 69 4,017 SH   SOLE   4,017 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 209 12,166 SH   SOLE   12,166 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 3,002 79,405 SH   SOLE   79,405 0 0
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM 531229607 6,032 158,810 SH   SOLE   158,810 0 0
LIBERTY MEDIA CORP DELAWARE COM A BRAVES GRP 531229706 221 7,939 SH   SOLE   7,939 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 444 15,880 SH   SOLE   15,880 0 0
LINDE PLC SHS G5494J103 932,082 4,640,868 SH   SOLE   4,430,985 0 209,883
M & T BK CORP COM 55261F104 1,196 7,032 SH   SOLE   7,032 0 0
MAG SILVER CORP COM 55903Q104 31,058 2,942,988 SH   SOLE   2,942,988 0 0
MARATHON PETE CORP COM 56585A102 44,132 789,771 SH   DFND 1 0 789,771 0
MARTIN MARIETTA MATLS INC COM 573284106 44,206 192,106 SH   DFND 1 0 192,106 0
MEDICINES CO COM 584688105 17,446 478,373 SH   DFND 1 0 478,373 0
MICROSOFT CORP COM 594918104 635,185 4,741,604 SH   SOLE   4,466,325 0 275,279
NATIONAL OILWELL VARCO INC COM 637071101 550,673 24,771,599 SH   SOLE   23,303,582 0 1,468,017
NEWMONT GOLDCORP CORPORATION COM 651639106 812,146 21,111,148 SH   SOLE   20,112,084 0 999,064
NGL ENERGY PARTNERS LP COM UNIT REPST 62913M107 27,059 1,832,015 SH   SOLE   1,832,015 0 0
NOVAGOLD RES INC COM NEW 66987E206 47,589 8,052,359 SH   SOLE   8,052,359 0 0
NOW INC COM 67011P100 121,984 8,264,531 SH   SOLE   7,842,391 0 422,140
NUSTAR ENERGY LP UNIT COM 67058H102 6,785 250,000 SH   SOLE   250,000 0 0
NUTRIEN LTD COM 67077M108 1,207,029 22,578,166 SH   SOLE   21,440,810 0 1,137,356
NVENT ELECTRIC PLC SHS G6700G107 28,539 1,151,218 SH   DFND 1 0 1,151,218 0
OMNICOM GROUP INC COM 681919106 693,484 8,462,279 SH   SOLE   7,990,698 0 471,581
ORACLE CORP COM 68389X105 1,829,172 32,107,642 SH   SOLE   30,143,695 0 1,963,947
PACKAGING CORP AMER COM 695156109 36,877 386,873 SH   DFND 1 0 386,873 0
PACKAGING CORP AMER COM 695156109 65 2,000 SH Put DFND 1 0 2,000 0
PARK CITY GROUP INC COM NEW 700215304 2,339 436,445 SH   SOLE   436,445 0 0
PERRIGO CO PLC SHS G97822103 33,934 712,600 SH   DFND 1 0 712,600 0
PERRIGO CO PLC SHS G97822103 1,385 1,000 SH Call DFND 1 0 1,000 0
PHILIP MORRIS INTL INC COM 718172109 921,911 11,739,607 SH   SOLE   11,037,374 0 702,233
POST HLDGS INC COM 737446104 62,016 596,477 SH   DFND 1 0 596,477 0
QORVO INC COM 74736K101 32,431 486,885 SH   DFND 1 0 486,885 0
QORVO INC COM 74736K101 80 2,000 SH Put DFND 1 0 2,000 0
RICEBRAN TECHNOLOGIES COM NEW 762831204 546 187,500 SH   SOLE   187,500 0 0
ROYAL GOLD INC COM 780287108 320,562 3,127,735 SH   SOLE   3,027,330 0 100,405
S&P GLOBAL INC COM 78409V104 9,112 40,000 SH   SOLE   40,000 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 19,398 5,064,630 SH   SOLE   4,948,111 0 116,519
SCHLUMBERGER LTD COM 806857108 1,237,791 31,147,230 SH   SOLE   29,171,717 0 1,975,513
SCOTTS MIRACLE GRO CO CL A 810186106 262,370 2,663,657 SH   SOLE   2,502,505 0 161,152
SERVICEMASTER GLOBAL HLDGS I COM 81761R109 22,230 426,757 SH   DFND 1 0 426,757 0
SHELL MIDSTREAM PARTNERS L P UNIT LTD INT 822634101 16,385 790,797 SH   SOLE   790,797 0 0
SHERWIN WILLIAMS CO COM 824348106 17,048 37,200 SH   DFND 1 0 37,200 0
SNAP INC CL A 83304A106 1,736 3,500 SH Call DFND 1 0 3,500 0
SPDR GOLD TRUST GOLD SHS 78463V107 870,682 6,536,652 SH   SOLE   3,475,722 0 3,060,930
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 142 12,540 SH   SOLE   12,540 0 0
SUNESIS PHARMACEUTICALS INC COM PAR 867328700 214 294,480 SH   SOLE   294,480 0 0
SUPER LEAGUE GAMING INC COM 86804F202 800 93,620 SH   SOLE   93,620 0 0
SYNCHRONY FINL COM 87165B103 226,279 6,526,656 SH   SOLE   6,148,119 0 378,537
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 403,867 10,310,611 SH   SOLE   9,811,410 0 499,201
TECHNIPFMC PLC COM G87110105 789,700 30,443,334 SH   SOLE   28,901,588 0 1,541,746
TERADATA CORP DEL COM 88076W103 552,705 15,417,158 SH   SOLE   14,453,588 0 963,570
TEXAS INSTRS INC COM 882508104 446,555 3,891,205 SH   SOLE   3,686,114 0 205,091
THERAPEUTICSMD INC COM 88338N107 3,754 1,443,856 SH   DFND 1 0 1,443,856 0
TIFFANY & CO NEW COM 886547108 271,543 2,899,861 SH   SOLE   2,743,661 0 156,200
TRAVELERS COMPANIES INC COM 89417E109 322,743 2,158,526 SH   SOLE   2,041,398 0 117,128
TYSON FOODS INC CL A 902494103 548 250 SH Call DFND 1 0 250 0
UGI CORP NEW COM 902681105 179,497 3,360,739 SH   SOLE   3,177,977 0 182,762
UNION PACIFIC CORP COM 907818108 587,405 3,473,509 SH   SOLE   3,275,880 0 197,629
UNIVAR INC COM 91336L107 33,143 1,503,750 SH   DFND 1 0 1,503,750 0
UNIVAR INC COM 91336L107 1,350 7,500 SH Put DFND 1 0 7,500 0
UNIVERSAL HLTH SVCS INC CL B 913903100 393,020 3,014,188 SH   SOLE   2,830,485 0 183,703
US BANCORP DEL COM NEW 902973304 614,296 11,723,215 SH   SOLE   11,026,892 0 696,323
VARIAN MED SYS INC COM 92220P105 186,475 1,369,833 SH   SOLE   1,285,775 0 84,058
VISTA OUTDOOR INC COM 928377100 41,002 4,617,351 SH   SOLE   4,422,675 0 194,676
VISTEON CORP COM NEW 92839U206 4,763 81,300 SH   DFND 1 0 81,300 0
WELLS FARGO CO NEW COM 949746101 451,459 9,540,561 SH   SOLE   8,995,745 0 544,816
WELLS FARGO CO NEW PERP PFD CNV A 949746804 11,643 8,535 SH   SOLE   8,535 0 0
WESTERN DIGITAL CORP COM 958102105 7,231 7,000 SH Call DFND 1 0 7,000 0
WEYERHAEUSER CO COM 962166104 1,167,894 44,339,183 SH   SOLE   41,805,942 0 2,533,241
WHEATON PRECIOUS METALS CORP COM 962879102 679,439 28,099,201 SH   SOLE   26,844,647 0 1,254,554
WILLIS TOWERS WATSON PUB LTD SHS G96629103 705,110 3,681,269 SH   SOLE   3,494,976 0 186,293
WYNDHAM DESTINATIONS INC COM 98310W108 74,434 1,695,544 SH   DFND 1 0 1,695,544 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 41,134 737,968 SH   DFND 1 0 737,968 0
X4 PHARMACEUTICALS INC COM 98420X103 536 35,730 SH   SOLE   35,730 0 0
XEROX CORP COM NEW 984121608 52,499 1,482,600 SH   SOLE   1,482,600 0 0
ZILLOW GROUP INC CL C CAP STK 98954M200 19,470 419,700 SH   DFND 1 0 419,700 0