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
ACTIVISION BLIZZARD INC COM 00507V109 3,373 36,331 SH   SOLE   0 0 0
AFLAC INC COM 001055102 55,342 1,244,352 SH   SOLE   0 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 11,638 50,000 SH   SOLE   0 0 0
ALLEGHANY CORP DEL COM 017175100 3,934 6,500 SH   SOLE   0 0 0
AMBEV SA SPONSORED ADR 02319V103 211,673 69,274,536 SH   SOLE   0 0 0
AMERICAN EXPRESS CO COM 025816109 222,143 1,837,229 SH   SOLE   0 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 4,654 1,449,493 SH   SOLE   0 0 0
ANGLOGOLD ASHANTI LIMITED SPONS ADR 035128206 81,851 3,618,523 SH   SOLE   0 0 0
APPLE INC COM 037833100 633 4,776 SH   SOLE   0 0 0
APTIV PLC SHS G6095L109 1,057 8,109 SH   SOLE   0 0 0
ARCH CAP GROUP LTD ORD G0450A105 217 6,000 SH   SOLE   0 0 0
ARCOSA INC COM 039653100 385 7,000 SH   SOLE   0 0 0
BK OF AMERICA CORP COM 060505104 303 10,000 SH   SOLE   0 0 0
BARRICK GOLD CORP COM 067901108 14,612 641,429 SH   SOLE   0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 122,401 527,825 SH   SOLE   0 0 0
BLOCK H & R INC COM 093671105 1,157 72,938 SH   SOLE   0 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 115,945 1,869,812 SH   SOLE   0 0 0
BRISTOL-MYERS SQUIBB CO RIGHT 99/99/9999 110122157 1,865 2,702,674 SH   SOLE   0 0 0
CABOT OIL & GAS CORP COM 127097103 45,179 2,773,666 SH   SOLE   0 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 47,663 9,226,428 SH   SOLE   0 0 0
CENTENE CORP DEL COM 15135B101 189,932 3,163,502 SH   SOLE   0 0 0
SCHWAB CHARLES CORP COM 808513105 191,823 3,616,102 SH   SOLE   0 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 57,059 429,081 SH   SOLE   0 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 5,151 350,000 SH   SOLE   0 0 0
CIGNA CORP NEW COM 125523100 204,031 979,483 SH   SOLE   0 0 0
CLEAN HARBORS INC COM 184496107 1,218 16,000 SH   SOLE   0 0 0
CONAGRA BRANDS INC COM 205887102 1,160 32,000 SH   SOLE   0 0 0
CORVUS GOLD INC COM 221013105 3,946 1,662,119 SH   SOLE   0 0 0
COTY INC COM CL A 222070203 3,865 550,000 SH   SOLE   0 0 0
DESPEGAR COM CORP ORD SHS G27358103 4,845 378,000 SH   SOLE   0 0 0
DEUTSCHE BANK A G NAMEN AKT D18190898 1,168 106,500 SH   SOLE   0 0 0
DIANA SHIPPING INC COM Y2066G104 424 220,000 SH   SOLE   0 0 0
DOW INC COM 260557103 925 16,671 SH   SOLE   0 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 10,258 883,009 SH   SOLE   0 0 0
DUPONT DE NEMOURS INC COM 26614N102 1,963 27,594 SH   SOLE   0 0 0
EHEALTH INC COM 28238P109 102,283 1,447,729 SH   SOLE   0 0 0
EQUINOX GOLD CORP COM 29446Y502 14,158 1,368,022 SH   SOLE   0 0 0
EXXON MOBIL CORP COM 30231G102 6,891 167,189 SH   SOLE   0 0 0
GALIANO GOLD INC COM 36352H100 31,217 27,014,416 SH   SOLE   0 0 0
GENERAL ELECTRIC CO COM 369604103 1,269 117,500 SH   SOLE   0 0 0
GENERAL MTRS CO COM 37045V100 121,596 2,919,874 SH   SOLE   0 0 0
GOLD FIELDS LTD SPONS ADR 38059T106 68,853 7,429,860 SH   SOLE   0 0 0
GOLDMINING INC COM 38149E101 5,478 2,501,996 SH   SOLE   0 0 0
GREAT PANTHER MNG LTD COM 39115V101 10,455 12,251,976 SH   SOLE   0 0 0
HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300 5,857 1,249,785 SH   SOLE   0 0 0
HUMANA INC COM 444859102 903 2,201 SH   SOLE   0 0 0
IAMGOLD CORP COM 450913108 70,585 19,203,900 SH   SOLE   0 0 0
IMV INC COM 44974L103 22,792 7,453,399 SH   SOLE   0 0 0
INTEGRA RES CORP COM NEW 45826T301 5,547 1,428,427 SH   SOLE   0 0 0
JEFFERIES FINL GROUP INC COM 47233W109 22,803 926,566 SH   SOLE   0 0 0
JPMORGAN CHASE & CO COM 46625H100 47,066 370,620 SH   SOLE   0 0 0
KINROSS GOLD CORP COM NO PAR 496902404 195,343 26,589,982 SH   SOLE   0 0 0
LIVENT CORP COM 53814L108 34,331 1,821,340 SH   SOLE   0 0 0
M & T BK CORP COM 55261F104 8,277 65,001 SH   SOLE   0 0 0
MARKEL CORP COM 570535104 1,033 1,000 SH   SOLE   0 0 0
MARSH & MCLENNAN COS INC COM 571748102 398 3,400 SH   SOLE   0 0 0
MARTIN MARIETTA MATLS INC COM 573284106 1,265 4,450 SH   SOLE   0 0 0
MATTEL INC COM 577081102 175 10,000 SH   SOLE   0 0 0
MICROSOFT CORP COM 594918104 674 3,033 SH   SOLE   0 0 0
MICROSTRATEGY INC CL A NEW 594972408 53,647 137,820 SH   SOLE   0 0 0
MOHAWK INDS INC COM 608190104 578 4,100 SH   SOLE   0 0 0
NEWMONT CORP COM 651639106 7,338 122,488 SH   SOLE   0 0 0
NEXSTAR MEDIA GROUP INC CL A 65336K103 30,821 282,308 SH   SOLE   0 0 0
NOMAD FOODS LTD USD ORD SHS G6564A105 1,907 75,000 SH   SOLE   0 0 0
NUTRIEN LTD COM 67077M108 50,843 1,055,700 SH   SOLE   0 0 0
OMNICOM GROUP INC COM 681919106 998 16,000 SH   SOLE   0 0 0
PERFORMANCE SHIPPING INC COM NEW Y67305121 161 35,000 SH   SOLE   0 0 0
PHILIP MORRIS INTL INC COM 718172109 2,400 29,000 SH   SOLE   0 0 0
SAFE BULKERS INC COM Y7388L103 462 353,788 SH   SOLE   0 0 0
SPDR GOLD TR GOLD SHS 78463V107 694 3,893 SH   SOLE   0 0 0
STEALTHGAS INC SHS Y81669106 466 200,000 SH   SOLE   0 0 0
SYNCHRONY FINANCIAL COM 87165B103 577 16,623 SH   SOLE   0 0 0
KRAFT HEINZ CO COM 500754106 1,906 55,000 SH   SOLE   0 0 0
UBER TECHNOLOGIES INC COM 90353T100 24,162 473,621 SH   SOLE   0 0 0
US BANCORP DEL COM NEW 902973304 1,072 23,000 SH   SOLE   0 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 581 16,118 SH   SOLE   0 0 0
VIASAT INC COM 92552V100 816 25,000 SH   SOLE   0 0 0
VULCAN MATLS CO COM 929160109 623 4,200 SH   SOLE   0 0 0
DISNEY WALT CO COM DISNEY 254687106 248,254 1,370,246 SH   SOLE   0 0 0
WELLS FARGO CO NEW COM 949746101 1,268 42,000 SH   SOLE   0 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 115,833 2,773,905 SH   SOLE   0 0 0