Capital Innovations 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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
AIR PRODS & CHEMS INC	COM	009158106	681	4,075	SH		SOLE		4,075	0	0
AK STL HLDG CORP	COM	013872106	917	22,688	SH		SOLE		22,688	0	0
ALCOA CORP	COM	032511107	1,123	16,656	SH		SOLE		16,656	0	0
ANADARKO PETE CORP	COM	03349M105	1,100	7,167	SH		SOLE		7,167	0	0
Andeavor	COM	03349M105	579	25,800	SH		SOLE		25,800	0	0
ARCELORMITTAL SA LUXEMBOURG	NY REGISTRY SH	03938L203	765	24,773	SH		SOLE		24,773	0	0
Archer Daniels Midland Co	COM	039483102	484	9,612	SH		SOLE		9,612	0	0
Barrick Gold Corp	COM	067901108	627	56,570	SH		SOLE		56,570	0	0
BHP Billiton Ltd	SPONSORED ADR	088606108	1,085	21,770	SH		SOLE		21,770	0	0
BP PLC	SPONSORED ADR	055622104	1,297	28,140	SH		SOLE		28,140	0	0
Bunge LTD	COM	G16962105	1,029	14,980	SH		SOLE		14,980	0	0
CANADIAN NATL RY CO	COM	136375102	584	6,500	SH		SOLE		6,500	0	0
Caterpillar Ord Shs	COM	149123101	779	5,110	SH		SOLE		5,110	0	0
CF INDS HLDGS INC	COM	125269100	767	14,088	SH		SOLE		14,088	0	0
Cheniere Energy Inc	COM NEW	16411R208	214	3,080	SH		SOLE		3,080	0	0
Chevron Corp New	COM	166764100	975	7,975	SH		SOLE		7,975	0	0
CNX RESOURCES CORPORATION	COM	12653C108	172	12,045	SH		SOLE		12,045	0	0
Deere & Co	COM	244199105	1,077	7,165	SH		SOLE		7,165	0	0
Domtar Corp	COM NEW	257559203	575	11,000	SH		SOLE		11,000	0	0
DowDuPont Inc	COM	26078J100	1,364	21,215	SH		SOLE		21,215	0	0
Enbridge Inc	COM	29250N105	763	23,620	SH		SOLE		23,620	0	0
ENI S P A	SPONSORED ADR	26874R108	258	6,850	SH		SOLE		6,850	0	0
EOG RES INC	COM	26875P101	761	5,965	SH		SOLE		5,965	0	0
Exxon Mobil Corp	COM	30231G102	1,082	12,725	SH		SOLE		12,725	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	536	38,490	SH		SOLE		38,490	0	0
GOLDCORP INC NEW	COM	380956409	644	63,145	SH		SOLE		63,145	0	0
GREEN PLAINS INC	COM	393222104	243	14,125	SH		SOLE		14,125	0	0
Halliburton Co	COM	406216101	395	9,750	SH		SOLE		9,750	0	0
INTL PAPER CO	COM	460146103	709	14,431	SH		SOLE		14,431	0	0
KANSAS CITY SOUTHERN	COM NEW	485170302	631	5,567	SH		SOLE		5,567	0	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	874	8,525	SH		SOLE		8,525	0	0
Macquarie Infrastructure Cor	COM	55608B105	228	4,935	SH		SOLE		4,935	0	0
Marathon Pete Corp	COM	56585A102	803	10,045	SH		SOLE		10,045	0	0
MONDELEZ INTL INC	CL A	609207105	534	12,434	SH		SOLE		12,434	0	0
Nabors Industries Ltd	SHS	629568106	420	68,130	SH		SOLE		68,130	0	0
Newmont Mining Corp	COM	651639106	375	12,405	SH		SOLE		12,405	0	0
Nucor Ord Shs	COM	670346105	215	3,390	SH		SOLE		3,390	0	0
Nutrien Ord Shs	COM	67077M108	942	16,312	SH		SOLE		16,312	0	0
Packaging Corp Amer	COM	695156109	368	3,350	SH		SOLE		3,350	0	0
Pembina Pipeline Corp	COM	706327103	356	10,480	SH		SOLE		10,480	0	0
Phillips 66	COM	718546104	212	1,880	SH		SOLE		1,880	0	0
PIONEER NAT RES CO	COM	723787107	1,050	6,025	SH		SOLE		6,025	0	0
Rio Tinto PLC	SPONSORED ADR	767204100	909	17,815	SH		SOLE		17,815	0	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	1,107	16,245	SH		SOLE		16,245	0	0
Schlumberger Ltd	COM	806857108	896	14,709	SH		SOLE		14,709	0	0
Sherwin Williams Co	COM	824348106	228	500	SH		SOLE		500	0	0
Southern Copper Corp	COM	84265V105	328	7,595	SH		SOLE		7,595	0	0
Steel Dynamics Inc	COM	858119100	362	8,020	SH		SOLE		8,020	0	0
Suncor Energy Inc New	COM	867224107	1,586	40,955	SH		SOLE		40,955	0	0
Total S A	SPONSORED ADR	89151E109	1,162	18,049	SH		SOLE		18,049	0	0
Transcanada Corp	COM	89353D107	1,028	25,390	SH		SOLE		25,390	0	0
TURKCELL ILETISIM HIZMETLERI	SPON ADR NEW	900111204	288	59,740	SH		SOLE		59,740	0	0
ULTRAPAR PARTICIPACOES S A	SP ADR REP COM	90400P101	181	19,550	SH		SOLE		19,550	0	0
UNITED STATES STL CORP NEW	COM	912909108	507	16,620	SH		SOLE		16,620	0	0
Vale S A	ADR	91912E105	851	57,350	SH		SOLE		57,350	0	0
VALERO ENERGY CORP NEW	COM	91913Y100	203	1,780	SH		SOLE		1,780	0	0
Vulcan MATLS Co	COM	929160109	326	2,935	SH		SOLE		2,935	0	0
Weatherford Intl PLC	ORD SHS	947074100	335	123,645	SH		SOLE		123,645	0	0
Westrock Co	COM	96145D105	627	11,724	SH		SOLE		11,724	0	0
Weyerhaeuser Co	COM	962166104	630	19,510	SH		SOLE		19,510	0	0
Williams Cos Inc Del	COM	969457100	319	11,730	SH		SOLE		11,730	0	0
Zoetis Inc	CL A	98978V103	544	5,939	SH		SOLE		5,939	0	0