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
4D PHARMA PLC SPONSORED ADS 35085K109 2,089 195,954 SH   SOLE   0 0 0
AFLAC INC COM 001055102 3,613 67,347 SH   SOLE   0 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 183,351 998,268 SH   SOLE   0 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 11,747 51,792 SH   SOLE   0 0 0
ALLEGHANY CORP MD COM 017175100 3,269 4,900 SH   SOLE   0 0 0
AMBEV SA SPONSORED ADR 02319V103 378,501 110,193,150 SH   SOLE   0 0 0
AMERICAN EXPRESS CO COM 025816109 175,731 1,063,207 SH   SOLE   0 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 2,196 1,449,493 SH   SOLE   0 0 0
ANGLOGOLD ASHANTI LIMITED SPONS ADR 035128206 75,697 4,073,022 SH   SOLE   0 0 0
APPLE INC COM 037833100 654 4,776 SH   SOLE   0 0 0
APTIV PLC SHS G6095L109 205 1,305 SH   SOLE   0 0 0
ARCH CAP GROUP LTD ORD G0450A105 234 6,000 SH   SOLE   0 0 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 896 150,000 SH   SOLE   0 0 0
BARRICK GOLD CORP COM 067901108 28,329 1,506,276 SH   SOLE   0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 39,956 143,860 SH   SOLE   0 0 0
BLOCK H & R INC COM 093671105 939 40,000 SH   SOLE   0 0 0
BRF SA SPONSORED ADR 10552T107 4,782 875,000 SH   SOLE   0 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 283,872 4,249,273 SH   SOLE   0 0 0
CABOT OIL & GAS CORP COM 127097103 60,484 3,463,219 SH   SOLE   0 0 0
CENTENE CORP DEL COM 15135B101 397,834 5,456,529 SH   SOLE   0 0 0
CENTERRA GOLD INC COM 152006102 45,991 6,034,550 SH   SOLE   0 0 0
SCHWAB CHARLES CORP COM 808513105 57,001 782,930 SH   SOLE   0 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 331 2,849 SH   SOLE   0 0 0
CHESAPEAKE ENERGY CORP COM 165167735 134,689 2,594,944 SH   SOLE   0 0 0
CIGNA CORP NEW COM 125523100 364,505 1,537,414 SH   SOLE   0 0 0
CLEAN HARBORS INC COM 184496107 931 10,000 SH   SOLE   0 0 0
CONAGRA BRANDS INC COM 205887102 1,164 32,000 SH   SOLE   0 0 0
CORVUS GOLD INC COM 221013105 4,634 1,662,119 SH   SOLE   0 0 0
COTY INC COM CL A 222070203 32,881 3,522,325 SH   SOLE   0 0 0
CUMMINS INC COM 231021106 658 2,700 SH   SOLE   0 0 0
DESPEGAR COM CORP ORD SHS G27358103 5,949 450,000 SH   SOLE   0 0 0
DEUTSCHE BANK A G NAMEN AKT D18190898 1,390 106,500 SH   SOLE   0 0 0
DOW INC COM 260557103 1,037 16,396 SH   SOLE   0 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 4,260 391,730 SH   SOLE   0 0 0
EHEALTH INC COM 28238P109 109,475 1,873,790 SH   SOLE   0 0 0
EQUINOX GOLD CORP COM 29446Y502 5,689 817,965 SH   SOLE   0 0 0
EXXON MOBIL CORP COM 30231G102 61,024 967,796 SH   SOLE   0 0 0
FEDERATED HERMES INC CL B 314211103 108,386 3,195,802 SH   SOLE   0 0 0
GALIANO GOLD INC COM 36352H100 28,309 26,378,459 SH   SOLE   0 0 0
GENERAL ELECTRIC CO COM 369604103 12,171 904,564 SH   SOLE   0 0 0
GENERAL MTRS CO COM 37045V100 79,172 1,337,928 SH   SOLE   0 0 0
GODADDY INC CL A 380237107 11,305 130,000 SH   SOLE   0 0 0
GOLD FIELDS LTD SPONS ADR 38059T106 53,042 5,963,137 SH   SOLE   0 0 0
GOLDMINING INC COM 38149E101 3,624 2,501,996 SH   SOLE   0 0 0
GRAFTECH INTL LTD COM 384313508 1,127 97,000 SH   SOLE   0 0 0
GREAT PANTHER MNG LTD COM 39115V101 6,280 10,048,914 SH   SOLE   0 0 0
HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300 559 149,785 SH   SOLE   0 0 0
HUMANA INC COM 444859102 888 2,006 SH   SOLE   0 0 0
IAMGOLD CORP COM 450913108 36,383 12,356,317 SH   SOLE   0 0 0
IMV INC COM 44974L103 15,756 7,313,142 SH   SOLE   0 0 0
INTEGRA RES CORP COM NEW 45826T301 4,723 1,614,579 SH   SOLE   0 0 0
JAZZ PHARMACEUTICALS PLC SHS USD G50871105 1,369 7,702 SH   SOLE   0 0 0
JPMORGAN CHASE & CO COM 46625H100 37,572 241,677 SH   SOLE   0 0 0
KINROSS GOLD CORP COM NO PAR 496902404 224,432 35,310,654 SH   SOLE   0 0 0
LIVENT CORP COM 53814L108 8,324 430,065 SH   SOLE   0 0 0
LOCKHEED MARTIN CORP COM 539830109 27,621 73,006 SH   SOLE   0 0 0
M & T BK CORP COM 55261F104 1,090 7,500 SH   SOLE   0 0 0
MARKEL CORP COM 570535104 1,188 1,000 SH   SOLE   0 0 0
MARSH & MCLENNAN COS INC COM 571748102 478 3,400 SH   SOLE   0 0 0
MARTIN MARIETTA MATLS INC COM 573284106 1,056 3,000 SH   SOLE   0 0 0
MICROSOFT CORP COM 594918104 742 2,739 SH   SOLE   0 0 0
NEWMONT CORP COM 651639106 36,622 577,862 SH   SOLE   0 0 0
NEXSTAR MEDIA GROUP INC CL A 65336K103 8,101 54,747 SH   SOLE   0 0 0
NEXTERA ENERGY INC COM 65339F101 711 9,700 SH   SOLE   0 0 0
NOMAD FOODS LTD USD ORD SHS G6564A105 7,594 268,659 SH   SOLE   0 0 0
NORTHROP GRUMMAN CORP COM 666807102 64,297 176,915 SH   SOLE   0 0 0
NOV INC COM 62955J103 1,824 119,020 SH   SOLE   0 0 0
NUTRIEN LTD COM 67077M108 42,109 694,870 SH   SOLE   0 0 0
NXP SEMICONDUCTORS N V COM N6596X109 203 985 SH   SOLE   0 0 0
ORMAT TECHNOLOGIES INC COM 686688102 1,411 20,300 SH   SOLE   0 0 0
PERFORMANCE SHIPPING INC COM NEW Y67305121 188 35,000 SH   SOLE   0 0 0
PFIZER INC COM 717081103 8,140 207,843 SH   SOLE   0 0 0
PHILIP MORRIS INTL INC COM 718172109 7,927 79,992 SH   SOLE   0 0 0
SAFE BULKERS INC COM Y7388L103 936 233,788 SH   SOLE   0 0 0
SPDR GOLD TR GOLD SHS 78463V107 519 3,133 SH   SOLE   0 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 3,889 14,112 SH   SOLE   0 0 0
SSR MNG INC COM 784730103 8,915 571,454 SH   SOLE   0 0 0
STEALTHGAS INC SHS Y81669106 565 200,000 SH   SOLE   0 0 0
TELEFONICA BRASIL SA NEW ADR 87936R205 9,501 1,117,054 SH   SOLE   0 0 0
KRAFT HEINZ CO COM 500754106 1,427 35,000 SH   SOLE   0 0 0
TIM S A SPONSORED ADR 88706T108 3,925 340,999 SH   SOLE   0 0 0
US BANCORP DEL COM NEW 902973304 1,139 20,000 SH   SOLE   0 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 546 16,061 SH   SOLE   0 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 6,378 113,824 SH   SOLE   0 0 0
VIASAT INC COM 92552V100 822 16,500 SH   SOLE   0 0 0
VIPSHOP HOLDINGS LIMITED SPONSORED ADS A 92763W103 8,090 402,500 SH   SOLE   0 0 0
DISNEY WALT CO COM DISNEY 254687106 4,778 27,187 SH   SOLE   0 0 0
WELLS FARGO CO NEW COM 949746101 1,177 26,000 SH   SOLE   0 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 187,142 3,361,810 SH   SOLE   0 0 0