| 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 |
