The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 |
| Acuity Brands Inc | COM | 00508Y102 | 190,828 | 1,415,743 | SH | SOLE | 1,270,859 | 0 | 144,884 | ||
| Alphabet Inc | CAP STK CL A | 02079K305 | 18,433 | 15,095 | SH | SOLE | 13,598 | 0 | 1,497 | ||
| Alphabet Inc | CAP STK CL C | 02079K107 | 58,220 | 47,761 | SH | SOLE | 43,036 | 0 | 4,725 | ||
| Arcos Dorados Holdings Inc | SHS CL A | G0457F107 | 45,415 | 6,758,235 | SH | SOLE | 6,343,625 | 0 | 414,610 | ||
| Astronics Corp | COM | 046433108 | 60,627 | 2,063,561 | SH | SOLE | 1,911,107 | 0 | 152,454 | ||
| Baidu Inc | SPON ADR REP A | 056752108 | 34,450 | 335,247 | SH | SOLE | 316,627 | 0 | 18,620 | ||
| Bank of America Corp | COM | 060505104 | 224,657 | 7,701,662 | SH | SOLE | 6,959,414 | 0 | 742,248 | ||
| Barrick Gold Corp | COM | 067901108 | 43,542 | 2,512,506 | SH | SOLE | 2,512,506 | 0 | 0 | ||
| Berkshire Hathaway Inc | CL A | 084670108 | 307,466 | 986 | SH | SOLE | 886 | 0 | 100 | ||
| Berkshire Hathaway Inc | CL B | 084670702 | 118,394 | 569,146 | SH | SOLE | 508,264 | 0 | 60,882 | ||
| CDK Global Inc. | COM | 12508E101 | 38,482 | 800,213 | SH | SOLE | 722,953 | 0 | 77,260 | ||
| Cimarex Energy Co | COM | 171798101 | 129,506 | 2,701,421 | SH | SOLE | 2,424,867 | 0 | 276,554 | ||
| Criteo SA | SPON ADS | 226718104 | 66,877 | 3,578,241 | SH | SOLE | 3,343,834 | 0 | 234,407 | ||
| iShares Gold Trust | ISHARES | 464285105 | 313,151 | 22,209,292 | SH | SOLE | 15,882,681 | 0 | 6,326,611 | ||
| Goldman Sachs | COM | 38141G104 | 129,200 | 623,463 | SH | SOLE | 565,970 | 0 | 57,493 | ||
| LKQ Corp | COM | 501889208 | 160,366 | 5,099,067 | SH | SOLE | 4,593,185 | 0 | 505,882 | ||
| Loma Negra Corp | SPON ADS | 54150E104 | 12,189 | 2,119,789 | SH | SOLE | 2,119,789 | 0 | 0 | ||
| Mastercard Inc | CL A | 57636Q104 | 139,873 | 515,055 | SH | SOLE | 466,228 | 0 | 48,827 | ||
| Net 1 UEPS Technologies | COM | 64107N206 | 26,482 | 7,417,863 | SH | SOLE | 7,021,393 | 0 | 396,470 | ||
| Newmont Goldcorp Corp. | COM | 651639106 | 83,775 | 2,209,267 | SH | SOLE | 2,181,832 | 0 | 27,435 | ||
| News Corp | CL A | 65249B109 | 86,555 | 6,218,060 | SH | SOLE | 5,907,044 | 0 | 311,016 | ||
| Oracle Corp | COM | 68389X105 | 62,560 | 1,136,841 | SH | SOLE | 1,030,588 | 0 | 106,253 | ||
| Phoenix New Media Ltd | SPON ADS | 71910C103 | 12,783 | 4,993,454 | SH | SOLE | 4,993,454 | 0 | 0 | ||
| Qurate Retail Inc | COM SER A | 74915M100 | 54,198 | 5,254,310 | SH | SOLE | 4,749,986 | 0 | 504,324 | ||
| Schlumberger Ltd | COM | 806857108 | 178,784 | 5,232,185 | SH | SOLE | 4,835,539 | 0 | 396,646 | ||
| Sina Corp | COM | G81477104 | 42,467 | 1,083,610 | SH | SOLE | 1,013,826 | 0 | 69,784 | ||
| United Technologies Corp | COM | 913017109 | 58,493 | 428,461 | SH | SOLE | 403,128 | 0 | 25,333 | ||
| Western Union Co | COM | 959802109 | 2,494 | 107,644 | SH | SOLE | 107,644 | 0 | 0 | ||