The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 |
| AUTOZONE INC | COM | 053332102 | 33 | 1,000 | SH | Put | SOLE | 1,000 | 0 | 0 | |
| BARRICK GOLD CORP | COM | 067901108 | 42,118 | 2,635,567 | SH | SOLE | 1,591,284 | 0 | 1,044,283 | ||
| CAMECO CORP | COM | 13321L108 | 79,443 | 7,587,574 | SH | SOLE | 4,711,087 | 0 | 2,876,487 | ||
| CENTRAIS ELETRICAS BRASILEIR | SPONSORED ADR | 15234Q207 | 400 | 57,568 | SH | SOLE | 57,568 | 0 | 0 | ||
| CLOUD PEAK ENERGY INC | COM | 18911Q102 | 10,096 | 1,799,904 | SH | SOLE | 1,410,977 | 0 | 388,927 | ||
| DIANA SHIPPING INC | COM | Y2066G104 | 16,985 | 5,624,361 | SH | SOLE | 3,579,668 | 0 | 2,044,693 | ||
| EMBRAER S A | SP ADR REP 4 COM | 29082A107 | 5,656 | 293,837 | SH | SOLE | 200,775 | 0 | 93,062 | ||
| GLOBAL X FDS | GLOBAL X URANIUM | 37954Y871 | 2,968 | 230,560 | SH | SOLE | 230,560 | 0 | 0 | ||
| GOLDCORP INC NEW | COM | 380956409 | 10,793 | 793,518 | SH | SOLE | 411,695 | 0 | 381,823 | ||
| HOME DEPOT INC | COM | 437076102 | 41 | 3,600 | SH | Put | SOLE | 3,600 | 0 | 0 | |
| KBR INC | COM | 48242W106 | 11,475 | 687,497 | SH | SOLE | 434,151 | 0 | 253,346 | ||
| KINROSS GOLD CORP | COM NO PAR | 496902404 | 51,540 | 16,572,539 | SH | SOLE | 9,946,318 | 0 | 6,626,221 | ||
| KT CORP | SPONSORED ADR | 48268K101 | 16,068 | 1,140,477 | SH | SOLE | 861,837 | 0 | 278,640 | ||
| NAM TAI PPTY INC | SHS | G63907102 | 1,082 | 146,321 | SH | SOLE | 108,412 | 0 | 37,909 | ||
| NEW GOLD INC CDA | COM | 644535106 | 8,058 | 2,301,948 | SH | SOLE | 1,352,150 | 0 | 949,798 | ||
| NORTHERN DYNASTY MINERALS LT | COM NEW | 66510M204 | 13,489 | 6,516,239 | SH | SOLE | 6,313,937 | 0 | 202,302 | ||
| NOVAGOLD RES INC | COM NEW | 66987E206 | 9,160 | 2,008,863 | SH | SOLE | 1,128,571 | 0 | 880,292 | ||
| PANDORA MEDIA INC | COM | 698354107 | 33,822 | 2,593,718 | SH | SOLE | 1,618,842 | 0 | 974,876 | ||
| ROYAL GOLD INC | COM | 780287108 | 42,602 | 672,489 | SH | SOLE | 411,900 | 0 | 260,589 | ||
| SAFE BULKERS INC | COM | Y7388L103 | 4,272 | 3,713,027 | SH | SOLE | 2,339,424 | 0 | 1,373,603 | ||
| SILVER WHEATON CORP | COM | 828336107 | 51,834 | 2,682,940 | SH | SOLE | 1,689,707 | 0 | 993,233 | ||
| STARBUCKS CORP | COM | 855244109 | 6 | 8,600 | SH | Put | SOLE | 8,600 | 0 | 0 | |
| TSAKOS ENERGY NAVIGATION LTD | SHS | G9108L108 | 16,113 | 3,435,283 | SH | SOLE | 2,130,308 | 0 | 1,304,975 | ||
| TURQUOISE HILL RES LTD | COM | 900435108 | 37,430 | 11,588,576 | SH | SOLE | 7,179,209 | 0 | 4,409,367 | ||
| YANDEX N V | SHS CLASS A | N97284108 | 23,938 | 1,189,195 | SH | SOLE | 710,204 | 0 | 478,991 | ||