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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ARCOS DORADOS HOLDINGS CL A ORD Com G0457F107   18,683,865 2,075,985 SH   SOLE   2,009,350 0 66,635
BANCO MACRO ADR REP TEN CL B ORD Com 05961W105   1,695,248 29,570 SH   SOLE   29,570 0 0
BROOKFIELD ASSET MNGMT CL A ORD Com 113004105   1,795,846 47,197 SH   SOLE   47,197 0 0
BROOKFIELD CL A ORD Com 11271J107   7,488,707 180,277 SH   SOLE   180,277 0 0
BROOKFIELD REINSRNC EX VOTN CL A ORD Com G16250105   40,384 971 SH   SOLE   971 0 0
CAMECO ORD Com 13321L108   32,658,303 663,719 SH   SOLE   663,719 0 0
CAPITAL SOUTHWEST ORD Com 140501107   2,141,911 82,097 SH   SOLE   82,097 0 0
COPA HOLDINGS CL A ORD Com P31076105   1,589,506 16,700 SH   SOLE   16,700 0 0
CSW INDUSTRIALS ORD Com 126402106   2,968,288 11,188 SH   SOLE   11,188 0 0
DESPEGAR COM ORD Com G27358103   28,952,069 2,188,365 SH   SOLE   2,154,429 0 33,936
DOUGLAS ELLIMAN ORD Com 25961D105   3,040,209 2,620,870 SH   SOLE   2,192,427 0 428,443
ENERFLEX ORD Com 29269R105   29,751,292 5,514,672 SH   SOLE   5,382,771 0 131,901
GRUPO FINANCIERO ADR REP 10 CL B ORD Com 399909100   3,773,610 123,482 SH   SOLE   123,482 0 0
JEFFERIES FINANCIAL GROUP ORD Com 47233W109   53,254,346 1,070,224 SH   SOLE   1,070,224 0 0
NUTRIEN ORD Com 67077M108   30,953,382 608,002 SH   SOLE   593,966 0 14,036
TECK RESOURCES CL B ORD Com 878742204   3,314,201 69,190 SH   SOLE   69,190 0 0
TIDEWATER ORD Com 88642R109   9,419,506 98,934 SH   SOLE   98,934 0 0
WHEATON PRECIOUS METALS ORD Com 962879102   45,550,254 868,948 SH   SOLE   868,948 0 0