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
ASA INTERNATIONAL GROUP PLC COM G0R8A4107 1,688 687,267 SH   SOLE   687,267 0 0
BANCO INTER SA COM P1S6FG155 1,036 342,866 SH   SOLE   342,866 0 0
BANCO INTER SA COM P1S6FG106 11,646 3,499,011 SH   SOLE   3,499,011 0 0
CHINA SUNSINE CHEMICAL HOLDINGS LTD COM Y15198115 2,677 10,750,800 SH   SOLE   10,750,800 0 0
CIMPRESS PLC SHS EURO G2143T103 5,637 75,000 SH   SOLE   75,000 0 0
CREDIT ACCEP CORP MICH COM 225310101 8,602 25,402 SH   SOLE   25,402 0 0
DINO POLSKA SA COM X188AF102 12,124 205,741 SH   SOLE   205,741 0 0
EXP WORLD HLDGS INC COM 30212W100 10,358 256,760 SH   SOLE   256,760 0 0
GAIA INC NEW CL A 36269P104 1,701 173,064 SH   SOLE   173,064 0 0
GOEASY LTD COM 380355107 19,644 400,000 SH   SOLE   400,000 0 0
HUTTIG BLDG PRODS INC COM 448451104 717 327,206 SH   SOLE   327,206 0 0
IAC INTERACTIVECORP NEW COM 44891N109 11,978 100,000 SH   SOLE   100,000 0 0
JET2 PLC COM G5112P101 4,339 500,000 SH   SOLE   500,000 0 0
NORWEGIAN FINANS HOLDING ASA COM R6349B103 10,252 1,411,189 SH   SOLE   1,411,189 0 0
SEI INVTS CO COM 784117103 7,608 150,000 SH   SOLE   150,000 0 0
XPO LOGISTICS INC COM 983793100 8,466 100,000 SH   SOLE   100,000 0 0