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
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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
AT&T INC COM COM 00206R102 575,647 14,175 SH   SOLE   14,175 0 14,175
AIR TRANS SVCS GROUP INC COM COM 00922R105 13,606,742 948,205 SH   SOLE   948,205 0 948,205
Alaska Air Group COM 011659109 493,950 7,500 SH   SOLE   7,500 0 7,500
ALIBABA GROUP HOLDING LTD -SP ADR- REPR 1 SHARE SPONSORED ADR 01609W102 518,481 4,900 SH   SOLE   4,900 0 4,900
ALPHABET INC -A- CAP STL CL A 02079K305 1,748,831 2,175 SH   SOLE   2,175 0 2,175
ALPHABET INC -C- CAP STL CL A 02079K107 442,278 569 SH   SOLE   569 0 569
AMAZON.COM INC COM 023135106 2,999,244 3,582 SH   SOLE   3,582 0 3,582
American Airlines Group COM 02376R102 337,727 9,225 SH   SOLE   9,225 0 9,225
AMERICAN CAP AGY CORP COM 02503X105 478,535 24,490 SH   SOLE   24,490 0 24,490
AMERICAN EXPRESS CO COM 025816109 217,096 3,390 SH   SOLE   3,390 0 3,390
Amgen COM 031162100 846,561 5,075 SH   SOLE   5,075 0 5,075
Apple COM 037833100 15,960,286 141,179 SH   SOLE   141,179 0 141,179
AVIANCA HOLDINGS SA -ADR- SPON ADR REP PFD 05367G100 270,410 41,730 SH   SOLE   41,730 0 41,730
BP PLC -ADR- SPONSORED ADR 055622104 230,544 6,557 SH   SOLE   6,557 0 6,557
BANCO BILBAO VIZCAYA ARGENTARIA -SP.ADR- SPONSORED ADR 05946K101 902,141 151,366 SH   SOLE   151,366 0 151,366
BANCO SANTANDER SA -ADR- ADR 05964H105 180,157 40,852 SH   SOLE   40,852 0 40,852
BANCO SANTANDER (BRASIL) SA -ADR- REPR 1 UNIT ADS REP 1 UNIT 05967A107 167,500 25,000 SH   SOLE   25,000 0 25,000
Bank Of America COM 060505104 1,889,784 120,753 SH   SOLE   120,753 0 120,753
BARCLAYS PLC 6 5/8% COCO 14-PERPETUAL USD PRFD 6.625%12/3 06738EAB1 182,720 200,000 SH   SOLE   200,000 0 200,000
Barc.bk Pfd 8.125% -adr Sp.-nc Perp ADR PFD SR 5 06739H362 378,476 16,520 SH   SOLE   16,520 0 16,520
BERKSHIRE HATHAWAY INC CLASS -B- CL B NEW 084670702 948,590 6,566 SH   SOLE   6,566 0 6,566
CVS HEALTH CORP COM COM 126650100 205,389 2,308 SH   SOLE   2,308 0 2,308
CARMAX INC COM COM 143130102 4,834,844 90,625 SH   SOLE   90,625 0 90,625
CEMEX ADR REPR 10 CPO SPON ADR NEW 151290889 2,092,636 263,556 SH   SOLE   263,556 0 263,556
Citigroup COM NEW 172967424 1,290,843 27,331 SH   SOLE   27,331 0 27,331
CLIFFS NATURAL RESSOURCES COM 18683K101 122,850 21,000 SH   SOLE   21,000 0 21,000
COCA-COLA CO/THE -SHS 03.10.2016 COM 191216100 355,488 8,400 SH   SOLE   8,400 0 8,400
COMCAST CORP -CLASS A- CL A 20030N101 295,213 4,450 SH   SOLE   4,450 0 4,450
COSTCO WHOLESALE CORP NEW COM COM 22160K105 327,897 2,150 SH   SOLE   2,150 0 2,150
Credit Suisse Group -adr Spons.- SPONSORED ADR 225401108 1,148,962 87,440 SH   SOLE   87,440 0 87,440
WALT DISNEY COMPANY -DISNEY SERIES- COM DISNEY 254687106 2,196,418 23,653 SH   SOLE   23,653 0 23,653
Etfs Gold SHS 26922Y105 590,397 4,606 SH   SOLE   4,606 0 4,606
EMBRAER S A SPONSORED ADR REPSTG 4 COM SHS ISIN#US29082A1079 SP ADR REP 4 COM 29082A107 4,381,969 253,880 SH   SOLE   253,880 0 253,880
EMPRESAS ICA SOCIEDAD CONTRLADORA SA DE CV SPONS ADR NEW ISIN#US2924482068 SPON ADR NEW 292448206 5,040 10,500 SH   SOLE   10,500 0 10,500
FACEBOOK INC -A- CL A 30303M102 7,177,733 55,958 SH   SOLE   55,958 0 55,958
FEDEX CORP -SHS 03.10.2016 COM 31428X106 1,352,373 7,742 SH   SOLE   7,742 0 7,742
FLUOR CORP NEW COM COM 343412102 3,394,048 66,135 SH   SOLE   66,135 0 66,135
General Electric COM 369604103 482,776 16,299 SH   SOLE   16,299 0 16,299
General Motors COM 37045V100 886,542 27,905 SH   SOLE   27,905 0 27,905
Gilead Sciences COM 375558103 636,600 8,046 SH   SOLE   8,046 0 8,046
GLAXOSMITHKLINE PLC -ADR- REPR 2 SHS SPONSORED ADR 37733W105 371,781 8,620 SH   SOLE   8,620 0 8,620
GLOBAL MEDICAL REIT INC COM NEW 37954A204 112,240 11,500 SH   SOLE   11,500 0 11,500
GOLDMAN SACHS GROUP INC COM 38141G104 420,915 2,610 SH   SOLE   2,610 0 2,610
HCA HOLDINGS INC COM 40412C101 378,150 5,000 SH   SOLE   5,000 0 5,000
HASBRO INC -SHS 03.10.2016 COM 418056107 317,320 4,000 SH   SOLE   4,000 0 4,000
HOME DEPOT INC COM COM 437076102 315,266 2,450 SH   SOLE   2,450 0 2,450
HUNTSMAN CORP 03.10.2016 COM 447011107 232,661 14,300 SH   SOLE   14,300 0 14,300
ICAHN ENTERPRISES LP UNITS REPR UNITS OF LP INT. DEPOSITORY UNITS 451100101 224,290 4,437 SH   SOLE   4,437 0 4,437
Intel COM 458140100 670,138 17,752 SH   SOLE   17,752 0 17,752
Ishares-msci Malaysia Etf MSCI MALAYSI ETF 464286830 1,034,901 127,608 SH   SOLE   127,608 0 127,608
ISHARES MSCI MEXICO INVESTAB-ETF 03.10.2016 MSCI MEX CAP ETF 464286822 713,141 14,710 SH   SOLE   14,710 0 14,710
Ishares Trust-barclays 20+y Tr.bond 20 YR TR BD ETF 464287432 12,040,513 87,561 SH   SOLE   87,561 0 87,561
ISHARES GLOBAL ENERGY ETF. GLOBAL ENERG ETF 464287341 306,513 9,325 SH   SOLE   9,325 0 9,325
ISHARES TR US FINANCIALS ETF INDEX FD U.S. FINLS ETF 464287788 836,100 9,290 SH   SOLE   9,290 0 9,290
ISHARES TR EUROPE ETF EUROPE ETF 464287861 250,063 6,350 SH   SOLE   6,350 0 6,350
ISHARES TR SELECT DIVID ETF FD SELECT DIVID ETF 464287168 193,574 2,259 SH   SOLE   2,259 0 2,259
ISHARES TR U S HEALTHCARE ETF US HLTHCARE ETF 464287762 261,365 1,740 SH   SOLE   1,740 0 1,740
ISHARES TR 3-7 YR TREAS BD ETF 3-7 YR TR BD ETF 464288661 1,094,367 8,648 SH   SOLE   8,648 0 8,648
ISHARES TR RUSSELL TOP 200 GROWTH ETF RUS TP200 GR ETF 464289438 335,160 6,000 SH   SOLE   6,000 0 6,000
ISHARES MSCI RUSSIA CAPPED ETF MSCI EM ESG OPZ 46434G806 328,182 22,540 SH   SOLE   22,540 0 22,540
Jpmorgan Chase COM 46625H100 1,179,775 17,717 SH   SOLE   17,717 0 17,717
JOHNSON & JOHNSON COM COM 478160104 301,822 2,555 SH   SOLE   2,555 0 2,555
LLOYDS BANK GRP SPON ADR REPR 4 SHS 03.10.2016 SPONSORED ADR 539439109 137,760 48,000 SH   SOLE   48,000 0 48,000
MAGNA INTERNATIONAL INC COM ISIN#CA5592224011 COM 559222401 8,842,117 205,870 SH   SOLE   205,870 0 205,870
MEDNAX INC COM COM 58502B106 8,563,144 129,255 SH   SOLE   129,255 0 129,255
Microsoft COM 594918104 1,090,253 18,928 SH   SOLE   18,928 0 18,928
NVR INC COM 62944T105 1,169,227 713 SH   SOLE   713 0 713
NETFLIX INC COM 64110L106 222,731 2,260 SH   SOLE   2,260 0 2,260
OI S A SPONSORED ADR NEW 2016 SPONSORED ADR NE 670851500 59,117 10,408 SH   SOLE   10,408 0 10,408
OWENS ILLINOIS INC COM NEW 690768403 7,976,203 433,725 SH   SOLE   433,725 0 433,725
PACWEST BANCORP COM 695263103 409,318 9,539 SH   SOLE   9,539 0 9,539
Palo Alto Networks COM 697435105 885,078 5,555 SH   SOLE   5,555 0 5,555
Papa Johns International COM 698813102 378,480 4,800 SH   SOLE   4,800 0 4,800
PETROLEO BRASILEIRO SA PETROBRAS SPONSORED ADR SPONSORED ADR 71654V408 21,817,319 2,338,405 SH   SOLE   2,338,405 0 2,338,405
PFIZER INC COM COM 717081103 250,503 7,396 SH   SOLE   7,396 0 7,396
POWERSHARES QQQ TRUST SERIES I UNIT SER 1 73935A104 3,089,688 26,025 SH   SOLE   26,025 0 26,025
PRICELINE GRP INC COM NEW COM NEW 741503403 1,832,005 1,245 SH   SOLE   1,245 0 1,245
PROCTER & GAMBLE CO COM 742718109 271,494 3,025 SH   SOLE   3,025 0 3,025
Proshares Tr.-ultrash 20+ Treasury PSHS ULTSH 20YRS 74347B201 1,535,754 48,600 SH   SOLE   48,600 0 48,600
PROSHARES TR SHORT QQQ NEW 11/6/2014 SHORT QQQ ETF 74347B714 908,969 19,100 SH   SOLE   19,100 0 19,100
PROSHARES SHORT S&P500. SHORT S&P 500 NE 74347B425 447,323 11,750 SH   SOLE   11,750 0 11,750
Proshares Ultra Qqq Usd PSHS ULTRA QQQ 74347R206 1,566,374 18,100 SH   SOLE   18,100 0 18,100
PROSPECT CAP CORP SR NT CONV 5.750% 03/15/18 B/E DTD 08/14/12 5.750% 3/1 74348TAL6 61,800 60,000 SH   SOLE   60,000 0 60,000
PULTEGROUP INC COM 745867101 970,337 48,420 SH   SOLE   48,420 0 48,420
QUALCOMM INC -SHS 03.10.2016 COM 747525103 395,588 5,775 SH   SOLE   5,775 0 5,775
RENREN INC SPONSORED ADR RESPTG CL A SPONSORED ADR 759892102 51,294 24,900 SH   SOLE   24,900 0 24,900
ROYAL BANK OF SCOTLAND GROUP -ADR- 5 3/4% SIES -L- SP ADR L RP PF 780097788 1,681,657 74,450 SH   SOLE   74,450 0 74,450
ROYAL DUTCH SHELL PLC -A- -ADR- SPOS ADR A 780259206 274,534 5,483 SH   SOLE   5,483 0 5,483
Spdr S&p 500 Etf Trust TR UNIT 78462F103 2,004,452 9,267 SH   SOLE   9,267 0 9,267
Spdr Gold Trust Etf GOLD SHS 78463V107 4,578,824 36,444 SH   SOLE   36,444 0 36,444
SPDR SER TR S&P METALS & MNG ETF S&P METALS MNG 78464A755 259,896 9,800 SH   SOLE   9,800 0 9,800
SPDR BARCLAYS CAPITAL 1-3 MONTH T-BILL ETF BRCLYS 1-3MT ETF 78464A680 235,510 5,150 SH   SOLE   5,150 0 5,150
SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST UT SER 1 78467X109 205,079 1,122 SH   SOLE   1,122 0 1,122
SELECT SECTOR SPDR TR UTILS SBI INT-UTILS 81369Y886 600,862 12,265 SH   SOLE   12,265 0 12,265
Consumer Discret.select Sector Spdr SBI CONS DISCR 81369Y407 751,576 9,390 SH   SOLE   9,390 0 9,390
SECTOR SPRD TRUST - ENERGY SELECT.SECTOR SPDR FUND SBI INT-FINL 81369Y506 624,407 8,843 SH   SOLE   8,843 0 8,843
SECTOR SPDR TRUST INDUSTRIAL SELECT SECTOR SPDR SBI INT-INDS 81369Y704 325,177 5,570 SH   SOLE   5,570 0 5,570
Simon Property Group COM 828806109 208,045 1,005 SH   SOLE   1,005 0 1,005
SIRIUS XM HLDGS INC COM COM 82968B103 41,700 10,000 SH   SOLE   10,000 0 10,000
SKYWORKS SOLUTIONS INC COM COM 83088M102 380,700 5,000 SH   SOLE   5,000 0 5,000
Southwest Airlines COM 844741108 221,867 5,705 SH   SOLE   5,705 0 5,705
Starbucks COM 855244109 1,083,504 20,013 SH   SOLE   20,013 0 20,013
TAIWAN SEMICONDUCTOR MFG CO SPONSORED ADR SPONSORED ADR 874039100 5,166,498 168,895 SH   SOLE   168,895 0 168,895
TAILORED BRANDS INC COM SHS COM 87403A107 12,845,395 818,178 SH   SOLE   818,178 0 818,178
TESLA MOTORS INC COM 88160R101 4,986,493 24,440 SH   SOLE   24,440 0 24,440
Ulta Salon Cosmetics & Fragrance COM 90384S303 499,758 2,100 SH   SOLE   2,100 0 2,100
UNILEVER PLC SPON ADR NEW SPON ADR NEW 904767704 415,556 8,767 SH   SOLE   8,767 0 8,767
VALE SA -ADR- ADR 91912E105 185,042 33,644 SH   SOLE   33,644 0 33,644
VIACOM INC NEW CL B CL B 92553P201 5,054,918 132,675 SH   SOLE   132,675 0 132,675
Vonage Holdings COM 92886T201 256,468 38,800 SH   SOLE   38,800 0 38,800
WAL-MART STORES INC COM 931142103 385,481 5,345 SH   SOLE   5,345 0 5,345
WALGREEN BOOTS ALLIANCE INC -SHS 03.10.2016 COM 931427108 3,846,058 48,300 SH   SOLE   48,300 0 48,300
WELLS FARGO & CO. COM 949746101 424,247 9,581 SH   SOLE   9,581 0 9,581
WESTERN DIGITAL CORP COM COM 958102105 6,319,438 108,080 SH   SOLE   108,080 0 108,080
Wisdomtree-japan Hedged Equity.-sbi JAPN HEDGE EQT 97717W851 1,235,593 28,795 SH   SOLE   28,795 0 28,795
WISDOMTREE EUROPE HEDGED EQUITY FUND EUROPE HEDGE EQ 97717X701 1,760,242 32,755 SH   SOLE   32,755 0 32,755
Deutsche Bank Reg. NAMEN AKT D18190898 140,954 10,825 SH   SOLE   10,825 0 10,825
SOCIETE GENERALE SA EUR MED TERM NT NP FIXED MTY VAR RATE 8.250% 11/29/88 DEBT 8.250%12/3 F849BQAA2 1,782,609 1,758,500 SH   SOLE   1,758,500 0 1,758,500
JOHNSON CTLS INTL PLC SHS SHS G51502105 6,706,136 144,125 SH   SOLE   144,125 0 144,125
TRANSOCEAN LTD REG SHS H8817H100 247,845 23,250 SH   SOLE   23,250 0 23,250
FLEX LTD ORD SHS ORD Y2573F102 12,113,151 889,365 SH   SOLE   889,365 0 889,365