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 |
| ABBVIE INC | COM | 00287Y109 | 252 | 9,200 | SH | Put | SOLE | 9,200 | 0 | 0 | |
| AMAZON COM INC | COM | 023135106 | 1 | 1,600 | SH | Put | SOLE | 1,600 | 0 | 0 | |
| APPLE INC | COM | 037833100 | 39 | 5,100 | SH | Put | SOLE | 5,100 | 0 | 0 | |
| AUTOZONE INC | COM | 053332102 | 92 | 800 | SH | Put | SOLE | 800 | 0 | 0 | |
| BARRICK GOLD CORP | COM | 067901108 | 62,083 | 4,728,330 | SH | SOLE | 3,958,892 | 0 | 769,438 | ||
| BRASILAGRO BRAZILIAN AGRIC R | SPONSORED ADR | 10554B104 | 46 | 13,333 | SH | SOLE | 13,333 | 0 | 0 | ||
| CAMECO CORP | COM | 13321L108 | 119,673 | 10,637,557 | SH | SOLE | 9,082,148 | 0 | 1,555,409 | ||
| CENTRAIS ELETRICAS BRASILEIR | SPONSORED ADR | 15234Q207 | 439 | 136,888 | SH | SOLE | 136,888 | 0 | 0 | ||
| CLOUD PEAK ENERGY INC | COM | 18911Q102 | 17,416 | 4,990,128 | SH | SOLE | 4,607,820 | 0 | 382,308 | ||
| DIEBOLD NXDF INC | COM | 253651103 | 33,549 | 2,807,462 | SH | SOLE | 2,326,758 | 0 | 480,704 | ||
| DOMINOS PIZZA INC | COM | 25754A201 | 82 | 4,000 | SH | Put | SOLE | 4,000 | 0 | 0 | |
| GOLDCORP INC NEW | COM | 380956409 | 18,897 | 1,378,351 | SH | SOLE | 1,119,237 | 0 | 259,114 | ||
| HOME DEPOT INC | COM | 437076102 | 20 | 3,400 | SH | Put | SOLE | 3,400 | 0 | 0 | |
| INTERNATIONAL TOWER HILL MIN | COM | 46050R102 | 3,953 | 7,829,912 | SH | SOLE | 6,473,097 | 0 | 1,356,815 | ||
| ISHARES TR | MSCI EMG MKT ETF | 464287234 | 664 | 694,400 | SH | Put | SOLE | 694,400 | 0 | 0 | |
| KT CORP | SPONSORED ADR | 48268K101 | 64,062 | 4,823,925 | SH | SOLE | 4,131,408 | 0 | 692,517 | ||
| KINROSS GOLD CORP | COM NO PAR | 496902404 | 26,958 | 7,169,635 | SH | SOLE | 6,029,099 | 0 | 1,140,536 | ||
| NEW GOLD INC CDA | COM | 644535106 | 55,755 | 26,805,125 | SH | SOLE | 22,498,242 | 0 | 4,306,883 | ||
| NIKE INC | CL B | 654106103 | 32 | 9,700 | SH | Put | SOLE | 9,700 | 0 | 0 | |
| NORTHERN DYNASTY MINERALS LT | COM NEW | 66510M204 | 2,635 | 4,864,628 | SH | SOLE | 4,041,700 | 0 | 822,928 | ||
| NOVAGOLD RES INC | COM NEW | 66987E206 | 16,981 | 3,815,873 | SH | SOLE | 3,235,810 | 0 | 580,063 | ||
| PANDORA MEDIA INC | COM | 698354107 | 6,475 | 821,761 | SH | SOLE | 679,847 | 0 | 141,914 | ||
| RANGE RES CORP | COM | 75281A109 | 82,381 | 4,924,176 | SH | SOLE | 4,067,203 | 0 | 856,973 | ||
| ROYAL GOLD INC | COM | 780287108 | 2,413 | 25,993 | SH | SOLE | 25,993 | 0 | 0 | ||
| SSR MNG INC | COM | 784730103 | 179 | 18,180 | SH | SOLE | 18,180 | 0 | 0 | ||
| SANDSTORM GOLD LTD | COM NEW | 80013R206 | 932 | 207,085 | SH | SOLE | 189,157 | 0 | 17,928 | ||
| STARBUCKS CORP | COM | 855244109 | 36 | 5,400 | SH | Put | SOLE | 5,400 | 0 | 0 | |
| TIFFANY & CO NEW | COM | 886547108 | 71 | 6,700 | SH | Put | SOLE | 6,700 | 0 | 0 | |
| TURQUOISE HILL RES LTD | COM | 900435108 | 38,518 | 13,562,804 | SH | SOLE | 11,324,844 | 0 | 2,237,960 | ||
| Wheaton Precious Metals Corp | COM | 962879102 | 69,933 | 3,170,124 | SH | SOLE | 2,655,514 | 0 | 514,610 | ||
| TSAKOS ENERGY NAVIGATION LTD | SHS | G9108L108 | 23,687 | 6,367,539 | SH | SOLE | 4,997,591 | 0 | 1,369,948 | ||
| DIANA SHIPPING INC | COM | Y2066G104 | 29,780 | 6,191,345 | SH | SOLE | 4,976,430 | 0 | 1,214,915 | ||