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
ARCOS DORADOS HOLDINGS INC-A Com G0457F107 30,930 4,242,827 SH   SOLE   4,165,986 0 76,841
BROOKFIELD ASSET MANAGE-CL A Com 112585104 7,682 187,860 SH   SOLE   187,860 0 0
BROOKFIELD ASSET MANAGEMEN-A Com G16169107 60 1,476 SH   SOLE   1,476 0 0
CAMECO CORP Com 13321L108 25,731 970,645 SH   SOLE   970,645 0 0
CAPITAL SOUTHWEST CORP Com 140501107 2,131 125,820 SH   SOLE   125,820 0 0
COPA HOLDINGS SA-CLASS A Com P31076105 1,681 25,093 SH   SOLE   25,093 0 0
CSW INDUSTRIALS INC Com 126402106 2,356 19,664 SH   SOLE   19,664 0 0
DESPEGAR.COM CORP Com G27358103 13,564 2,379,680 SH   SOLE   2,298,934 0 80,746
JEFFERIES FINANCIAL GROUP IN Com 47233W109 33,398 1,132,133 SH   SOLE   1,132,133 0 0
NUTRIEN LTD Com 67077M108 25,604 307,074 SH   SOLE   302,552 0 4,522
SPECTRUM BRANDS HOLDINGS INC Com 84790A105 21,117 541,057 SH   SOLE   534,196 0 6,861
TIDEWATER INC Com 88642R109 38,449 1,771,854 SH   SOLE   1,740,356 0 31,498
WHEATON PRECIOUS METALS CORP Com 962879102 30,600 945,605 SH   SOLE   945,605 0 0
YAMANA GOLD INC Com 98462Y100 1,921 424,083 SH   SOLE   424,083 0 0