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 11,366 154,023 SH   SOLE   0 0 0
AFLAC INC COM 001055102 203 3,427 SH   SOLE   0 0 0
AGNICO EAGLE MINES LTD COM 008474108 10,415 230,756 SH   SOLE   0 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 17,806 211,411 SH   SOLE   0 0 0
ALLEGHANY CORP MD COM 017175100 5,057 6,000 SH   SOLE   0 0 0
AMAZON COM INC COM 023135106 34,467 286,615 SH   SOLE   0 0 0
AMBEV SA SPONSORED ADR 02319V103 142,138 46,700,133 SH   SOLE   0 0 0
AMERICAN EXPRESS CO COM 025816109 83,654 587,760 SH   SOLE   0 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 583 1,199,493 SH   SOLE   0 0 0
ANGLOGOLD ASHANTI LIMITED SPONS ADR 035128206 28,957 1,963,389 SH   SOLE   0 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 321 7,000 SH   SOLE   0 0 0
APPLE INC COM 037833100 467 3,210 SH   SOLE   0 0 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 1,173 152,142 SH   SOLE   0 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 15,311 278,987 SH   SOLE   0 0 0
B2GOLD CORP COM 11777Q209 3,271 966,783 SH   SOLE   0 0 0
BARRICK GOLD CORP COM 067901108 18,545 1,192,421 SH   SOLE   0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 29,964 108,516 SH   SOLE   0 0 0
BOOKING HOLDINGS INC COM 09857L108 17,123 10,019 SH   SOLE   0 0 0
BP PLC SPONSORED ADR 055622104 73,148 2,352,300 SH   SOLE   0 0 0
BRF SA SPONSORED ADR 10552T107 100 37,510 SH   SOLE   0 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 23,809 339,231 SH   SOLE   0 0 0
CENTENE CORP DEL COM 15135B101 27,269 339,886 SH   SOLE   0 0 0
CENTERRA GOLD INC COM 152006102 30,849 6,277,150 SH   SOLE   0 0 0
SCHWAB CHARLES CORP COM 808513105 47,812 629,751 SH   SOLE   0 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 275 2,417 SH   SOLE   0 0 0
CHESAPEAKE ENERGY CORP COM 165167735 55,924 550,304 SH   SOLE   0 0 0
CHEVRON CORP NEW COM 166764100 3,548 22,000 SH   SOLE   0 0 0
CIGNA CORP NEW COM 125523100 123,693 421,936 SH   SOLE   0 0 0
COHERENT CORP COM 19247G107 21,043 554,317 SH   SOLE   0 0 0
CONOCOPHILLIPS COM 20825C104 7,404 62,922 SH   SOLE   0 0 0
COTERRA ENERGY INC COM 127097103 9,763 338,484 SH   SOLE   0 0 0
COTY INC COM CL A 222070203 51,029 7,447,561 SH   SOLE   0 0 0
CUMMINS INC COM 231021106 949 4,300 SH   SOLE   0 0 0
DEUTSCHE BANK A G NAMEN AKT D18190898 736 95,850 SH   SOLE   0 0 0
DOW INC COM 260557103 744 16,363 SH   SOLE   0 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 1,700 298,052 SH   SOLE   0 0 0
DRIL-QUIP INC COM 262037104 771 35,000 SH   SOLE   0 0 0
DUPONT DE NEMOURS INC COM 26614N102 1,355 25,479 SH   SOLE   0 0 0
EHEALTH INC COM 28238P109 610 169,777 SH   SOLE   0 0 0
ELDORADO GOLD CORP NEW COM 284902509 1,341 195,733 SH   SOLE   0 0 0
EQUINOX GOLD CORP COM 29446Y502 1,221 320,765 SH   SOLE   0 0 0
EXXON MOBIL CORP COM 30231G102 44,651 437,951 SH   SOLE   0 0 0
FEDERATED HERMES INC CL B 314211103 21,989 666,336 SH   SOLE   0 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 1,170 18,000 SH   SOLE   0 0 0
FISERV INC COM 337738108 1,386 14,000 SH   SOLE   0 0 0
FORTUNA SILVER MINES INC COM 349915108 6,875 2,268,940 SH   SOLE   0 0 0
GALIANO GOLD INC COM 36352H100 12,762 26,378,459 SH   SOLE   0 0 0
GENERAL ELECTRIC CO COM NEW 369604301 30,334 458,449 SH   SOLE   0 0 0
GENERAL MTRS CO COM 37045V100 41,508 1,199,331 SH   SOLE   0 0 0
GODADDY INC CL A 380237107 45,149 584,754 SH   SOLE   0 0 0
GOLD FIELDS LTD SPONS ADR 38059T106 12,972 1,484,809 SH   SOLE   0 0 0
GOLD RESOURCE CORP COM 38068T105 1,559 871,179 SH   SOLE   0 0 0
GOLDMINING INC COM 38149E101 2,266 2,501,996 SH   SOLE   0 0 0
HERTZ GLOBAL HLDGS INC COM NEW 42806J700 60,670 3,509,507 SH   SOLE   0 0 0
HERTZ GLOBAL HLDGS INC *W EXP 06/30/205 42806J148 103 11,150 SH   SOLE   0 0 0
IAMGOLD CORP COM 450913108 2,964 2,589,771 SH   SOLE   0 0 0
IMV INC COM 44974L103 2,106 4,419,545 SH   SOLE   0 0 0
INTEGRA RES CORP COM NEW 45826T301 1,284 2,384,579 SH   SOLE   0 0 0
JACKSON FINANCIAL INC COM CL A 46817M107 35,228 1,126,886 SH   SOLE   0 0 0
JAZZ PHARMACEUTICALS PLC SHS USD G50871105 1,071 7,702 SH   SOLE   0 0 0
JPMORGAN CHASE & CO COM 46625H100 14,836 137,204 SH   SOLE   0 0 0
KINROSS GOLD CORP COM NO PAR 496902404 66,565 17,053,271 SH   SOLE   0 0 0
LIVENT CORP COM 53814L108 6,229 209,651 SH   SOLE   0 0 0
M & T BK CORP COM 55261F104 1,380 7,500 SH   SOLE   0 0 0
MARKEL CORP COM 570535104 1,486 1,300 SH   SOLE   0 0 0
MARSH & MCLENNAN COS INC COM 571748102 456 2,900 SH   SOLE   0 0 0
MARTIN MARIETTA MATLS INC COM 573284106 990 3,000 SH   SOLE   0 0 0
MCKESSON CORP COM 58155Q103 228 650 SH   SOLE   0 0 0
META PLATFORMS INC CL A 30303M102 40,399 290,584 SH   SOLE   0 0 0
MICROSOFT CORP COM 594918104 254 1,031 SH   SOLE   0 0 0
NEWMONT CORP COM 651639106 9,020 201,092 SH   SOLE   0 0 0
NEXSTAR MEDIA GROUP INC CL A 65336K103 1,137 6,461 SH   SOLE   0 0 0
NEXTERA ENERGY INC COM 65339F101 765 9,700 SH   SOLE   0 0 0
NOMAD FOODS LTD USD ORD SHS G6564A105 424 30,000 SH   SOLE   0 0 0
NORTHROP GRUMMAN CORP COM 666807102 4,523 9,330 SH   SOLE   0 0 0
NOV INC COM 62955J103 7,850 414,126 SH   SOLE   0 0 0
NOW INC COM 67011P100 1,491 130,000 SH   SOLE   0 0 0
NUTRIEN LTD COM 67077M108 5,176 60,580 SH   SOLE   0 0 0
ORMAT TECHNOLOGIES INC COM 686688102 1,744 20,300 SH   SOLE   0 0 0
PFIZER INC COM 717081103 23,897 554,775 SH   SOLE   0 0 0
PHILIP MORRIS INTL INC COM 718172109 2,391 28,000 SH   SOLE   0 0 0
RYANAIR HOLDINGS PLC SPONSORED ADS 783513203 81,816 1,329,741 SH   SOLE   0 0 0
SAFE BULKERS INC COM Y7388L103 430 163,788 SH   SOLE   0 0 0
SCHLUMBERGER LTD COM STK 806857108 9,947 234,050 SH   SOLE   0 0 0
SCIPLAY CORPORATION CL A 809087109 12,604 999,638 SH   SOLE   0 0 0
SKEENA RES LTD NEW COM 83056P715 3,360 710,000 SH   SOLE   0 0 0
SOUTHWEST AIRLS CO COM 844741108 17,110 526,142 SH   SOLE   0 0 0
SSR MNG INC COM 784730103 5,134 339,359 SH   SOLE   0 0 0
SYNCHRONY FINANCIAL COM 87165B103 19,707 626,000 SH   SOLE   0 0 0
TELEFONICA BRASIL SA NEW ADR 87936R205 459 60,000 SH   SOLE   0 0 0
TIM S A SPONSORED ADR 88706T108 460 40,000 SH   SOLE   0 0 0
US BANCORP DEL COM NEW 902973304 793 19,300 SH   SOLE   0 0 0
DISNEY WALT CO COM DISNEY 254687106 2,582 25,821 SH   SOLE   0 0 0
WELLS FARGO CO NEW COM 949746101 929 22,000 SH   SOLE   0 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 19,884 577,641 SH   SOLE   0 0 0