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
BARRICK GOLD CORP STK 067901108 29,552 1,849,600 SH   SOLE   0 0 1,849,600
BARRICK GOLD CORP ADR 204448104 16,430 1,456,567 SH   SOLE   0 0 1,456,567
BED BATH & BEYOND INC STK 172967424 63,388 1,066,600 SH   SOLE   0 0 1,066,600
CATERPILLAR INC ADR 29082A107 15,935 827,800 SH   SOLE   0 0 827,800
CIA DE MINAS BUENAVENTURA SAA STK 37045V100 46,595 1,337,400 SH   SOLE   0 0 1,337,400
CIA DE MINAS BUENAVENTURA SAA STK 42824C109 34,465 1,489,400 SH   SOLE   0 0 1,489,400
CITIGROUP INC STK 40434L105 36,732 2,475,200 SH   SOLE   0 0 2,475,200
CITIGROUP INC ADR 456788108 12,040 811,895 SH   SOLE   0 0 811,895
EMBRAER SA ADR 71654V101 10,178 1,155,236 SH   SOLE   0 0 1,155,236
EMBRAER SA ADR 78440P108 19,575 936,583 SH   SOLE   0 0 936,583
GENERAL MOTORS CO ADR 715684106 11,734 402,406 SH   SOLE   0 0 402,406
GENERAL MOTORS CO ADR 880890108 12,281 508,515 SH   SOLE   0 0 508,515
GUESS INC ADR 900111204 5,980 866,724 SH   SOLE   0 0 866,724
HALLADOR ENERGY CO STK 067901108 106,881 6,689,371 SH   SOLE   6,689,371 0 0
HEWLETT PACKARD ENTERPRISE STK 075896100 41 1,000 SH   SOLE   1,000 0 0
HEWLETT PACKARD ENTERPRISE STK 149123101 47 500 SH   SOLE   500 0 0
HP INC ADR 204448104 34,832 3,087,978 SH   SOLE   3,087,978 0 0
HP INC STK 172967424 237,173 3,990,803 SH   SOLE   3,990,803 0 0
INFOSYS LTD ADR 29082A107 33,404 1,735,291 SH   SOLE   1,735,291 0 0
INFOSYS LTD STK 37045V100 180,424 5,178,650 SH   SOLE   5,178,650 0 0
INTERNATIONAL BUSINESS MACHINES CORP STK 401617105 478 39,524 SH   SOLE   39,524 0 0
OCEANEERING INTERNATIONAL INC STK 40609P105 817 89,931 SH   SOLE   89,931 0 0
PETROLEO BRASILEIRO SA STK 42824C109 131,940 5,701,809 SH   SOLE   5,701,809 0 0
PETROLEO BRASILEIRO SA STK 40434L105 130,258 8,777,509 SH   SOLE   8,777,509 0 0
PFIZER INC ADR 456788108 25,349 1,709,307 SH   SOLE   1,709,307 0 0
SK TELECOM CO LTD STK 459200101 1,394 8,400 SH   SOLE   8,400 0 0
SK TELECOM CO LTD STK 675232102 347 12,300 SH   SOLE   12,300 0 0
TELEKOMUNIKASI INDONESIA PERSERO TBK PT ADR 71654V101 21,560 2,447,188 SH   SOLE   2,447,188 0 0
TELEKOMUNIKASI INDONESIA PERSERO TBK PT STK 717081103 1,541 47,450 SH   SOLE   47,450 0 0
TEREX CORP ADR 78440P108 41,156 1,969,164 SH   SOLE   1,969,164 0 0
TERNIUM SA ADR 715684106 24,755 848,932 SH   SOLE   848,932 0 0
TERNIUM SA STK 880779103 769 24,400 SH   SOLE   24,400 0 0
TURKCELL ILETISIM HIZMETLERI AS ADR 880890108 25,860 1,070,814 SH   SOLE   1,070,814 0 0
TURKCELL ILETISIM HIZMETLERI AS ADR 900111204 12,593 1,825,066 SH   SOLE   1,825,066 0 0