0001193125-12-355973.txt : 20120814
0001193125-12-355973.hdr.sgml : 20120814
20120814172459
ACCESSION NUMBER: 0001193125-12-355973
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20120630
FILED AS OF DATE: 20120814
DATE AS OF CHANGE: 20120814
EFFECTIVENESS DATE: 20120814
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: U S GLOBAL INVESTORS INC
CENTRAL INDEX KEY: 0000754811
STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282]
IRS NUMBER: 741598370
STATE OF INCORPORATION: TX
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-02220
FILM NUMBER: 121034456
BUSINESS ADDRESS:
STREET 1: 7900 CALLAGHAN RD
CITY: SAN ANTONIO
STATE: TX
ZIP: 78229
BUSINESS PHONE: 2103081234
MAIL ADDRESS:
STREET 1: 7900 CALLAGHAN ROAD
CITY: SAN ANTONIO
STATE: TX
ZIP: 78229
FORMER COMPANY:
FORMER CONFORMED NAME: UNITED SERVICES ADVISORS INC /TX/
DATE OF NAME CHANGE: 19950321
13F-HR
1
d395978d13fhr.txt
FORM 13F-HR
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2012
Check here if Amendment [_]; Amendment Number: ____________________
This Amendment (Check only one.): [_] is a restatement.
[_] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: U.S. GLOBAL INVESTORS INC.
Address: 7900 CALLAGHAN ROAD
SAN ANTONIO, TEXAS 78278-1234
Form 13F File Number: 028-02220
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Susan Mcgee
Title: President
Phone: (210) 308-1234
Signature, Place, and Date of Signing:
/s/ Susan Mcgee San Antonio, TX 08/14/2012
------------------------ ------------------------ ------------------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[_] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
Form 13F Information Table Entry Total (not including options) 417
Form 13F Information Table Total Value (x1000) 883,759
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- --------------- --------- -------- ----------------------------- ---------- -------- -------------------
VOTING AUTHORITY
VALUE SHARES OR PUT/ INVESTMENT OTHER -------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRINCIPAL AMOUNT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-------------- --------------- --------- -------- ---------------- ------ ----- ---------- -------- ---- ------- ------
ABBOTT LABS COM 002824100 64 1,000 SH Sole 1,000
ABERDEEN ASIA
PACIFIC INCOM COM 003009107 76 10,000 SH Sole 10,000
AES CORP COM COM 00130H105 282 22,000 SH Sole 22,000
AETNA INC NEW COM COM 00817Y108 155 4,000 SH Sole 4,000
AGNICO EAGLE MINES
LTD COM COM 008474108 6,069 150,000 SH Sole 150,000
AGNICO EAGLE MINES
LTD COM COM 008474108 14,161 350,000 SH Sole 350,000
AGNICO EAGLE MINES
LTD COM COM 008474108 9,500 2,348 SH CALL Sole 2,348
AGNICO EAGLE MINES
LTD COM COM 008474108 27,683 6,842 SH CALL Sole 6,842
AGNICO EAGLE MINES
LTD COM COM 008474108 2,169 536 SH CALL Sole 536
AGNICO EAGLE MINES
LTD COM COM 008474108 4,345 1,074 SH CALL Sole 1,074
AIRGAS INC COM COM 009363102 176 2,100 SH Sole 2,100
AKORN INC COM COM 009728106 394 25,000 SH Sole 25,000
ALERIAN MLP ETF ALERIAN MLP 00162Q866 48 3,000 SH Sole 3,000
ALEXCO RESOURCE
CORP COM COM 01535P106 882 200,000 SH Sole 200,000
ALEXCO RESOURCE
CORP COM COM 01535P106 1,544 350,000 SH Sole 350,000
ALEXION
PHARMACEUTICALS
INC COM COM 015351109 149 1,500 SH Sole 1,500
ALEXION
PHARMACEUTICALS
INC COM COM 015351109 993 10,000 SH Sole 10,000
ALLIED NEVADA GOLD
CORP COM COM 019344100 1,703 60,000 SH Sole 60,000
ALLIED NEVADA GOLD
CORP COM COM 019344100 1,845 650 SH CALL Sole 650
ALMADEN MINERALS
LTD COM COM 020283107 1,198 570,000 SH Sole 570,000
ALMADEN MINERALS
LTD COM /CAD/ COM 020283107 54 25,000 SH Sole 25,000
ALTRIA GROUP INC
COM COM 02209S103 132 3,835 SH Sole 3,835
AMERICAN TOWER
CORP NEW COM COM 03027X100 210 3,000 SH Sole 3,000
AMERIPRISE FINL INC
COM COM 03076C106 178 3,400 SH Sole 3,400
AMGEN INC COM COM 031162100 183 2,500 SH Sole 2,500
ANADARKO PETE CORP
COM COM 032511107 9,728 146,950 SH Sole 146,950
ANGLOGOLD ASHANTI
LTD SPONSORED ADR ADR 035128206 2,919 85,000 SH Sole 85,000
ANGLOGOLD ASHANTI
LTD SPONSORED ADR ADR 035128206 1,717 50,000 SH Sole 50,000
ANGLOGOLD ASHANTI
LTD SPONSORED ADR ADR 035128206 6,968 2,029 SH CALL Sole 2,029
ANHEUSER BUSCH
INBEV SA/NV
SPONSORED ADR ADR 03524A108 143 1,800 SH Sole 1,800
APPLE INC COM COM 037833100 584 1,000 SH Sole 1,000
APPLE INC COM COM 037833100 1,460 2,500 SH Sole 2,500
ASIA ENTN &
RESOURCES LTD SHS SHS G0539K108 65 16,000 SH Sole 16,000
ASSURANT INC COM COM 04621X108 174 5,000 SH Sole 5,000
AT&T INC COM COM 00206R102 178 5,000 SH Sole 5,000
AT&T INC COM COM 00206R102 269 7,535 SH Sole 7,535
ATLAS ENERGY LP
COM UNITS LP COM UNITS LP 04930A104 142 4,640 SH Sole 4,640
AURICO GOLD INC COM COM 05155C105 4,646 580,000 SH Sole 580,000
AURICO GOLD INC COM COM 05155C105 2,523 315,000 SH Sole 315,000
AURICO GOLD INC COM COM 05155C105 626 781 SH CALL Sole 781
AURICO GOLD INC COM COM 05155C105 1,713 2,139 SH CALL Sole 2,139
BAIDU INC SPON ADR
REP A SPON ADR REP A 056752108 970 8,436 SH Sole 8,436
BALL CORP COM COM 058498106 168 4,100 SH Sole 4,100
BALLY TECHNOLOGIES
INC COM COM 05874B107 280 6,000 SH Sole 6,000
BALLY TECHNOLOGIES
INC COM COM 05874B107 840 18,000 SH Sole 18,000
BANK MONTREAL QUE COM 063671101 83 1,500 SH Sole 1,500
BARRICK GOLD CORP
COM COM 067901108 1,879 50,000 SH Sole 50,000
BARRICK GOLD CORP
COM COM 067901108 1,879 50,000 SH Sole 50,000
BARRICK GOLD CORP
COM COM 067901108 2,303 613 SH CALL Sole 613
BARRICK GOLD CORP
COM COM 067901108 14,040 3,737 SH CALL Sole 3,737
BCE INC COM NEW 05534B760 140 3,400 SH Sole 3,400
BECTON DICKINSON &
CO COM COM 075887109 172 2,300 SH Sole 2,300
BEMIS INC COM COM 081437105 179 5,700 SH Sole 5,700
BEST BUY INC COM COM 086516101 149 7,100 SH Sole 7,100
BLACKROCK INC COM COM 09247X101 170 1,000 SH Sole 1,000
BLOCK H & R INC COM 093671105 80 5,000 SH Sole 5,000
BRF-BRASIL FOODS S A
SPONSORED ADR SPONSORED ADR 10552T107 8,582 565,000 SH Sole 565,000
BRF-BRASIL FOODS S A
SPONSORED ADR SPONSORED ADR 10552T107 441 290 SH CALL Sole 290
BROWN FORMAN CORP
CL B CL B 115637209 136 1,400 SH Sole 1,400
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- ---------------- --------- -------- ----------------------------- ---------- -------- --------------------
VOTING AUTHORITY
VALUE SHARES OR PUT/ INVESTMENT OTHER --------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRINCIPAL AMOUNT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-------------- ---------------- --------- -------- ---------------- ------ ----- ---------- -------- ---- --------- -----
BUNGE LIMITED
COM COM G16962105 9,787 156,000 SH Sole 156,000
CARDTRONICS INC
COM COM 14161H108 906 30,000 SH Sole 30,000
CENOVUS ENERGY
INC COM COM 15135U109 10,240 322,000 SH Sole 322,000
CENOVUS ENERGY
INC COM COM 15135U109 954 300 SH CALL Sole 300
CENTURYLINK INC
COM COM 156700106 215 5,445 SH Sole 5,445
CF INDS HLDGS INC
COM COM 125269100 11,450 59,100 SH Sole 59,100
CF INDS HLDGS INC
COM COM 125269100 581 3,000 SH Sole 3,000
CHART INDS INC
COM PAR $0.01 COM PAR $0.01 16115Q308 860 12,500 SH Sole 12,500
CHEVRON CORP
NEW COM COM 166764100 179 1,700 SH Sole 1,700
CHINA DIGITAL TV
HLDG CO LTD
SPONSORED ADR ADR 16938G107 72 24,500 SH Sole 24,500
CHINA MOBILE
LIMITED
SPONSORED ADR ADR 16941M109 213 3,900 SH Sole 3,900
CHINA PETE & CHEM
CORP SPON ADR H
SHS SPON ADR H SHS 16941R108 262 2,933 SH Sole 2,933
CINTAS CORP COM COM 172908105 174 4,500 SH Sole 4,500
CIRRUS LOGIC INC
COM COM 172755100 598 20,000 SH Sole 20,000
CLAUDE RES INC
COM COM 182873109 638 1,000,000 SH Sole 1,000,000
CLAUDE RES INC
COM COM 182873109 958 1,500,000 SH Sole 1,500,000
CLIFFS NATURAL
RESOURCES INC
COM COM 18683K101 9,612 195,000 SH Sole 195,000
CLIFFS NATURAL
RESOURCES INC
COM COM 18683K101 986 200 SH CALL Sole 200
CNOOC LTD
SPONSORED ADR SPONSORED ADR 126132109 503 2,500 SH Sole 2,500
COCA COLA CO COM COM 191216100 219 2,800 SH Sole 2,800
COCA COLA
ENTERPRISES INC
NE COM COM 19122T109 168 6,000 SH Sole 6,000
COEUR D ALENE
MINES CORP IDA
COM NEW COM NEW 192108504 2,283 130,000 SH Sole 130,000
COEUR D ALENE
MINES CORP IDA
COM NEW COM NEW 192108504 5,005 285,000 SH Sole 285,000
COMCAST CORP
NEW CL A 20030N101 115 3,600 SH Sole 3,600
COMPANHIA
ENERGETICA DE
MINA SP ADR N-V
PFD SP ADR N-V PFD 204409601 225 12,200 SH Sole 12,200
COMPANIA DE
MINAS
BUENAVENTU
SPONSORED ADR SPONSORED ADR 204448104 3,798 100,000 SH Sole 100,000
COMPASS
MINERALS INTL
INC COM COM 20451N101 11,595 152,000 SH Sole 152,000
COMPASS
MINERALS INTL
INC COM COM 20451N101 610 80 SH CALL Sole 80
COMSTOCK MNG
INC COM COM 205750102 1,853 750,000 SH Sole 750,000
CONOCOPHILLIPS
COM COM 20825C104 140 2,500 SH Sole 2,500
CONOCOPHILLIPS
COM COM 20825C104 61 1,100 SH Sole 1,100
CONSTELLATION
BRANDS INC CL A CL A 21036P108 230 8,500 SH Sole 8,500
CORE
LABORATORIES N
V COM COM N22717107 580 5,000 SH Sole 5,000
CROWN CASTLE
INTL CORP COM COM 228227104 199 3,400 SH Sole 3,400
CROWN CASTLE
INTL CORP COM COM 228227104 214 3,650 SH Sole 3,650
CVS CAREMARK
CORPORATION COM 126650100 112 2,400 SH Sole 2,400
CYBERONICS INC
COM COM 23251P102 899 20,000 SH Sole 20,000
D R HORTON INC
COM COM 23331A109 239 13,000 SH Sole 13,000
D R HORTON INC
COM COM 23331A109 515 28,000 SH Sole 28,000
DEAN FOODS CO
NEW COM COM 242370104 136 8,000 SH Sole 8,000
DEVON ENERGY
CORP NEW COM COM 25179M103 128 2,200 SH Sole 2,200
DIAMOND
OFFSHORE
DRILLING IN COM COM 25271C102 148 2,500 SH Sole 2,500
DIAMOND
OFFSHORE
DRILLING IN COM COM 25271C102 89 1,500 SH Sole 1,500
DIRECT MKTS
HLDGS CORP COM
ADDED COM 25456U109 4 10,000 SH Sole 10,000
DIRECTV COM CL A CL A 25490A101 181 3,700 SH Sole 3,700
DOMINION RES INC
VA NEW COM COM 25746U109 189 3,500 SH Sole 3,500
DONNELLEY R R &
SONS CO COM COM 257867101 165 14,000 SH Sole 14,000
DRDGOLD LIMITED
SPON ADR REPSTG SPON ADR REPSTG 26152H301 1,310 200,000 SH Sole 200,000
DUKE ENERGY CORP
NEW COM COM 26441C105 212 9,200 SH Sole 9,200
DUNKIN BRANDS
GROUP INC COM COM 265504100 275 8,000 SH Sole 8,000
DUNKIN BRANDS
GROUP INC COM COM 265504100 962 28,000 SH Sole 28,000
ELDORADO GOLD
CORP NEW COM COM 284902103 10,361 841,000 SH Sole 841,000
ELDORADO GOLD
CORP NEW COM COM 284902103 1,848 150,000 SH Sole 150,000
ELDORADO GOLD
CORP NEW COM COM 284902103 3,080 250,000 SH Sole 250,000
ELDORADO GOLD
CORP NEW COM COM 284902103 2,190 1,778 SH CALL Sole 1,778
ELDORADO GOLD
CORP NEW COM COM 284902103 3,834 3,112 SH CALL Sole 3,112
EMERSON ELEC CO
COM COM 291011104 163 3,500 SH Sole 3,500
ENSCO PLC SHS
CLASS A ADDED SHS CLASS A G3157S106 9,817 209,000 SH Sole 209,000
ENTERGY CORP
NEW COM COM 29364G103 183 2,700 SH Sole 2,700
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- --------------- --------- -------- ----------------------------- ---------- -------- ---------------------
VOTING AUTHORITY
VALUE SHARES OR PUT/ INVESTMENT OTHER ---------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRINCIPAL AMOUNT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-------------- --------------- --------- -------- ---------------- ------ ----- ---------- -------- ---- --------- ------
ENTERGY CORP
NEW COM COM 29364G103 170 2,500 SH Sole 2,500
ENTERPRISE PRODS
PARTNERS L COM COM 293792107 11,478 224,000 SH Sole 224,000
ENTERPRISE PRODS
PARTNERS L COM COM 293792107 216 4,225 SH Sole 4,225
ENTREE GOLD INC
COM COM 29383G100 1,819 2,940,000 SH Sole 2,940,000
ETFS PALLADIUM
TR SH BEN INT SH BEN INT 26923A106 115 2,000 SH Sole 2,000
ETFS PALLADIUM
TR SH BEN INT SH BEN INT 26923A106 287 5,000 SH Sole 5,000
ETFS PALLADIUM
TR SH BEN INT SH BEN INT 26923A106 187 3,270 SH Sole 3,270
ETFS PALLADIUM
TR SH BEN INT SH BEN INT 26923A106 99 1,730 SH Sole 1,730
ETFS PLATINUM TR
SH BEN INT SH BEN INT 26922V101 1,427 10,000 SH Sole 10,000
ETFS PLATINUM TR
SH BEN INT SH BEN INT 26922V101 98 688 SH Sole 688
ETFS PLATINUM TR
SH BEN INT SH BEN INT 26922V101 52 362 SH Sole 362
EXELON CORP COM COM 30161N101 143 3,800 SH Sole 3,800
EXELON CORP COM COM 30161N101 271 7,200 SH Sole 7,200
EXELON CORP COM COM 30161N101 113 3,000 SH Sole 3,000
FAMILY DLR
STORES INC COM COM 307000109 168 2,525 SH Sole 2,525
FIRST MAJESTIC
SILVER CORP COM COM 32076V103 10,433 722,000 SH Sole 722,000
FIRST MAJESTIC
SILVER CORP COM COM 32076V103 1,879 130,000 SH Sole 130,000
FIRST MAJESTIC
SILVER CORP COM COM 32076V103 2,095 145,000 SH Sole 145,000
FIRST MAJESTIC
SILVER CORP COM COM 32076V103 217 15,000 SH Sole 15,000
FIRST MAJESTIC
SILVER CORP COM COM 32076V103 434 30,000 SH Sole 30,000
FOMENTO
ECONOMICO
MEXICANO S
SPON ADR UNITS SPON ADR UNITS 344419106 134 1,500 SH Sole 1,500
FRANCO NEVADA
CORP COM COM 351858105 4,975 110,000 SH Sole 110,000
FRANCO NEVADA
CORP COM COM 351858105 4,672 103,300 SH Sole 103,300
FRANCO NEVADA
CORP COM /CAD/ COM 351858105 6 29,000 SH WTS Sole 29,000
FRANCO NEVADA
CORP COM /CAD/ COM 351858105 27 4,600 SH WTS Sole 4,600
FREEPORT-
MCMORAN
COPPER & GO
COM COM 35671D857 10,047 294,890 SH Sole 294,890
FREEPORT-
MCMORAN
COPPER & GO
COM COM 35671D857 5,111 150,000 SH Sole 150,000
FREEPORT-
MCMORAN
COPPER & GO
COM COM 35671D857 7,666 225,000 SH Sole 225,000
FREEPORT-
MCMORAN
COPPER & GO
COM COM 35671D857 511 150 SH CALL Sole 150
FREEPORT-
MCMORAN
COPPER & GO
COM COM 35671D857 5,111 1,500 SH PUT Sole 1,500
FREEPORT-
MCMORAN
COPPER & GO
COM COM 35671D857 7,666 2,250 SH PUT Sole 2,250
FRESH MKT INC
COM COM 35804H106 322 6,000 SH Sole 6,000
FRESH MKT INC
COM COM 35804H106 912 17,000 SH Sole 17,000
FRONTIER
COMMUNICATIONS
CORP COM COM 35906A108 115 30,000 SH Sole 30,000
FX ENERGY INC COM 302695101 118 19,900 SH Sole 19,900
GAP INC DEL COM COM 364760108 164 6,000 SH Sole 6,000
GIANT INTERACTIVE
GROUP INC ADR ADR 374511103 83 17,100 SH Sole 17,100
GLOBAL X COPPER
MINES ETF COPPER MNR ETF 37950E861 184 16,500 SH Sole 16,500
GLOBAL X COPPER
MINES ETF COPPER MNR ETF 37950E861 99 8,850 SH Sole 8,850
GOLD FIELDS LTD
NEW SPONSORED
ADR ADR 38059T106 100 78 SH CALL Sole 78
GOLD FIELDS LTD
NEW SPONSORED
ADR ADR 38059T106 3,666 2,862 SH CALL Sole 2,862
GOLD STD
VENTURES CORP
COM ADDED COM 380738104 495 250,000 SH Sole 250,000
GOLD STD
VENTURES CORP
COM ADDED COM 380738104 1,011 525,000 SH Sole 525,000
GOLDCORP INC NEW
COM COM 380956409 3,758 100,000 SH Sole 100,000
GOLDCORP INC NEW
COM COM 380956409 5,637 150,000 SH Sole 150,000
GOLDCORP INC NEW
COM COM 380956409 6,415 1,707 SH CALL Sole 1,707
GOLDCORP INC NEW
COM COM 380956409 14,874 3,958 SH CALL Sole 3,958
GOLDCORP INC NEW
COM COM 380956409 2,443 650 SH CALL Sole 650
GOLDCORP INC NEW
COM COM 380956409 5,036 1,340 SH CALL Sole 1,340
GOLDEN MINERALS
COMPANY /CAD/ COM 381119106 11 2,500 SH Sole 2,500
GOLDEN STAR RES
LTD CDA COM COM 38119T104 319 275,000 SH Sole 275,000
GOLDEN STAR RES
LTD CDA COM COM 38119T104 638 550,000 SH Sole 550,000
GOOGLE INC CL A CL A 38259P508 232 400 SH Sole 400
GRAN TIERRA
ENERGY INC COM COM 38500T101 7,120 1,450,000 SH Sole 1,450,000
GREAT BASIN GOLD
LTD COM COM 390124105 237 350,000 SH Sole 350,000
GREAT BASIN GOLD
LTD COM COM 390124105 678 1,000,000 SH Sole 1,000,000
HARBINGER GROUP
INC COM 41146A106 39 5,050 SH Sole 5,050
HARMONY GOLD
MNG LTD
SPONSORED ADR ADR 413216300 8,131 865,000 SH Sole 865,000
HARMONY GOLD
MNG LTD
SPONSORED ADR ADR 413216300 9,823 1,045,000 SH Sole 1,045,000
HARRIS CORP DEL
COM COM 413875105 167 4,000 SH Sole 4,000
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- ---------------- --------- -------- ----------------------------- ---------- -------- ---------------------
VOTING AUTHORITY
VALUE SHARES OR PUT/ INVESTMENT OTHER ---------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRINCIPAL AMOUNT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-------------- ---------------- --------- -------- ---------------- ------ ----- ---------- -------- ---- --------- ------
HCP INC COM 40414L109 53 1,200 SH Sole 1,200
HEALTH CARE
REIT INC COM 42217K106 58 1,000 SH Sole 1,000
HECLA MNG CO
COM COM 422704106 629 1,324 SH CALL Sole 1,324
HECLA MNG CO
COM COM 422704106 1,286 2,708 SH CALL Sole 2,708
HERSHEY CO
COM COM 427866108 137 1,900 SH Sole 1,900
HEWLETT
PACKARD CO
COM COM 428236103 141 7,000 SH Sole 7,000
HILLSHIRE
BRANDS CO
COM ADDED COM 432589109 53 1,840 SH Sole 1,840
HOLLYFRONTIER
CORP COM COM 436106108 14,066 397,000 SH Sole 397,000
HOLLYFRONTIER
CORP COM COM 436106108 71 2,000 SH Sole 2,000
IAMGOLD CORP
COM COM 450913108 1,475 125,000 SH Sole 125,000
IAMGOLD CORP
COM COM 450913108 1,770 150,000 SH Sole 150,000
IAMGOLD CORP
COM COM 450913108 242 205 SH CALL Sole 205
IAMGOLD CORP
COM COM 450913108 242 205 SH CALL Sole 205
IAMGOLD CORP
COM COM 450913108 2,804 2,376 SH CALL Sole 2,376
IAMGOLD CORP
COM COM 450913108 3,002 2,544 SH CALL Sole 2,544
IMPERIAL OIL
LTD COM NEW COM NEW 453038408 10,534 252,500 SH Sole 252,500
IMPERIAL OIL
LTD COM NEW COM NEW 453038408 542 130 SH CALL Sole 130
ING ASIA PAC
HGH DIVID EQ
IN COM 44983J107 78 5,000 SH Sole 5,000
INTEL CORP COM COM 458140100 453 17,000 SH Sole 17,000
INTEL CORP COM COM 458140100 1,039 39,000 SH Sole 39,000
INTEL CORP COM COM 458140100 53 2,000 SH Sole 2,000
INTL PAPER CO
COM COM 460146103 9,665 334,300 SH Sole 334,300
INTEROIL CORP COM 460951106 183 2,626 SH Sole 2,626
INTUITIVE
SURGICAL INC
COM NEW COM NEW 46120E602 831 1,500 SH Sole 1,500
IRON MTN INC
COM COM 462846106 198 6,000 SH Sole 6,000
ISHARES INC
MSCI MEX
INVEST MSCI MEX INVEST 464286822 40 650 SH Sole 650
ISHARES SILVER
TRUST
ISHARES ISHARES 46428Q109 13 500 SH Sole 500
ISHARES SILVER
TRUST
ISHARES ISHARES 46428Q109 27 1,000 SH Sole 1,000
ISHARES SILVER
TRUST
ISHARES ISHARES 46428Q109 40 1,500 SH Sole 1,500
IVANHOE
ENERGY INC
COM COM 465790103 197 414,100 SH Sole 414,100
IVANHOE
ENERGY INC /
CAD/ COM 465790103 9 19,550 SH Sole 19,550
JOHNSON &
JOHNSON COM 478160104 182 2,700 SH Sole 2,700
JPMORGAN
ALERIAN MLP
INDEX ALERIAN ML ETN 46625H365 210 5,415 SH Sole 5,415
JPMORGAN
ALERIAN MLP
INDEX ALERIAN ML ETN 46625H365 112 2,885 SH Sole 2,885
KIMBER RES INC
COM COM 49435N101 1,103 1,500,000 SH Sole 1,500,000
KIMBER RES INC
COM COM 49435N101 37 50,000 SH Sole 50,000
KIMBERLY
CLARK CORP
COM COM 494368103 134 1,600 SH Sole 1,600
KINDER MORGAN
INC DEL COM COM 49456B101 9,299 288,600 SH Sole 288,600
KINDER MORGAN
INC DEL COM COM 49456B101 483 150 SH CALL Sole 150
KINROSS GOLD
CORP COM NO
PAR COM NO PAR 496902404 11,003 1,350,000 SH Sole 1,350,000
KINROSS GOLD
CORP COM NO
PAR COM NO PAR 496902404 0 1 SH Sole 1
KINROSS GOLD
CORP COM NO
PAR COM NO PAR 496902404 3,023 3,709 SH CALL Sole 3,709
KINROSS GOLD
CORP COM NO
PAR COM NO PAR 496902404 6,227 7,641 SH CALL Sole 7,641
KINROSS GOLD
CORP COM NO
PAR COM NO PAR 496902404 1,027 1,260 SH CALL Sole 1,260
KINROSS GOLD
CORP COM NO
PAR COM NO PAR 496902404 1,398 1,715 SH CALL Sole 1,715
L-3
COMMUNICATIONS
HLDGS INC
COM COM 502424104 170 2,300 SH Sole 2,300
LAKE SHORE
GOLD CORP
COM COM 510728108 894 1,000,000 SH Sole 1,000,000
LAM RESEARCH
CORP COM COM 512807108 170 4,500 SH Sole 4,500
LAS VEGAS
SANDS CORP
COM COM 517834107 435 10,000 SH Sole 10,000
LAS VEGAS
SANDS CORP
COM COM 517834107 957 22,000 SH Sole 22,000
LAS VEGAS
SANDS CORP
COM COM 517834107 435 100 SH PUT Sole 100
LAS VEGAS
SANDS CORP
COM COM 517834107 957 220 SH PUT Sole 220
LEXMARK INTL
NEW CL A CL A 529771107 159 6,000 SH Sole 6,000
LILLY ELI & CO COM 532457108 107 2,500 SH Sole 2,500
LIMITED BRANDS
INC COM COM 532716107 153 3,600 SH Sole 3,600
LINKEDIN CORP
COM CL A CL A 53578A108 744 7,000 SH Sole 7,000
LORILLARD INC
COM COM 544147101 224 1,700 SH Sole 1,700
LYONDELLBASELL
INDUSTRIES N SHS-A- N53745100 101 2,500 SH Sole 2,500
MAG SILVER
CORP COM COM 55903Q104 6,434 731,000 SH Sole 731,000
MAG SILVER
CORPORATION
/CAD/ COM 55903Q104 81 9,000 SH Sole 9,000
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- ----------------- --------- -------- ----------------------------- ---------- -------- -------------------
VOTING AUTHORITY
VALUE SHARES OR PUT/ INVESTMENT OTHER -------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRINCIPAL AMOUNT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-------------- ----------------- --------- -------- ---------------- ------ ----- ---------- -------- ---- ------- ------
MARATHON PETE
CORP COM COM 56585A102 12,353 275,000 SH Sole 275,000
MARKET VECTORS
ETF TR AGRIBUS
ETF AGRIBUS ETF 57060U605 545 110 SH CALL Sole 110
MARKET VECTORS
ETF TR GOLD
MINER ETF GOLD MINER ETF 57060U100 1 20 SH Sole 20
MARKET VECTORS
ETF TR GOLD
MINER ETF GOLD MINER ETF 57060U100 1 20 SH Sole 20
MARKET VECTORS
ETF TR GOLD
MINER ETF GOLD MINER ETF 57060U100 931 208 SH PUT Sole 208
MARKET VECTORS
ETF TR GOLD
MINER ETF GOLD MINER ETF 57060U100 2,127 475 SH PUT Sole 475
MARKET VECTORS
ETF TR GOLD
MINER ETF GOLD MINER ETF 57060U100 25 520 SH PUT Sole 520
MARKET VECTORS
ETF TR
INDONESIA ETF INDONESIA ETF 57060U753 70 2,555 SH Sole 2,555
MARKET VECTORS
ETF TR
INDONESIA ETF INDONESIA ETF 57060U753 41 1,495 SH Sole 1,495
MARKET VECTORS
ETF TR JR GOLD
MINERS E JR GOLD MINERS E 57060U589 1 35 SH Sole 35
MARKET VECTORS
ETF TR JR GOLD
MINERS E JR GOLD MINERS E 57060U589 1 35 SH Sole 35
MARKET VECTORS
ETF TR OIL SVCS
ETF OIL SVCS ETF 57060U191 3,564 1,000 SH PUT Sole 1,000
MARKET VECTORS
ETF TR OIL SVCS
ETF OIL SVCS ETF 57060U191 19 1,000 SH PUT Sole 1,000
MASTERCARD INC
CL A CL A 57636Q104 645 1,500 SH Sole 1,500
MASTERCARD INC
CL A CL A 57636Q104 1,161 2,700 SH Sole 2,700
MCEWEN MNG INC
COM COM 58039P107 903 300,000 SH Sole 300,000
MEAD JOHNSON
NUTRITION CO
COM COM 582839106 223 2,770 SH Sole 2,770
MERCK & CO INC
COM COM 58933Y105 125 3,000 SH Sole 3,000
MICROCHIP
TECHNOLOGY INC
COM COM 595017104 99 3,000 SH Sole 3,000
MIDWAY GOLD
CORP COM COM 598153104 369 265,800 SH Sole 265,800
MINES MGMT INC
COM COM 603432105 473 350,000 SH Sole 350,000
MONSANTO CO NEW
COM COM 61166W101 11,838 143,000 SH Sole 143,000
MONSTER
BEVERAGE CORP
COM COM 611740101 285 4,000 SH Sole 4,000
MONSTER
BEVERAGE CORP
COM COM 611740101 570 8,000 SH Sole 8,000
MOSAIC CO NEW
COM COM 61945C103 192 3,500 SH Sole 3,500
NABORS
INDUSTRIES LTD
SHS SHS G6359F103 1,440 100,000 SH Sole 100,000
NATIONAL OILWELL
VARCO INC COM COM 637071101 9,022 140,000 SH Sole 140,000
NATIONAL OILWELL
VARCO INC COM COM 637071101 1,289 200 SH CALL Sole 200
NEVSUN RES LTD
COM COM 64156L101 648 200,000 SH Sole 200,000
NEW GOLD INC CDA
COM COM 644535106 1,663 175,000 SH Sole 175,000
NEW GOLD INC CDA
COM COM 644535106 238 25,000 SH Sole 25,000
NEWMONT MINING
CORP COM COM 651639106 18,686 3,852 SH CALL Sole 3,852
NEWMONT MINING
CORP COM COM 651639106 37,440 7,718 SH CALL Sole 7,718
NEWMONT MINING
CORP COM COM 651639106 58 1,200 SH Sole 1,200
NEXTERA ENERGY
INC COM COM 65339F101 213 3,100 SH Sole 3,100
NGP CAP RES CO
COM COM 62912R107 142 20,000 SH Sole 20,000
NGP CAP RES CO
COM COM 62912R107 142 20,000 SH Sole 20,000
NORTHROP
GRUMMAN CORP
COM COM 666807102 191 3,000 SH Sole 3,000
NUSTAR ENERGY LP
UNIT COM COM 67058H102 291 5,400 SH Sole 5,400
NUSTAR ENERGY LP
UNIT COM COM 67058H102 162 3,000 SH Sole 3,000
OCEANEERING INTL
INC COM COM 675232102 11,008 230,000 SH Sole 230,000
OIL STS INTL INC
COM COM 678026105 9,566 144,500 SH Sole 144,500
OIL STS INTL INC
COM COM 678026105 1,986 300 SH CALL Sole 300
P T
TELEKOMUNIKASI
INDONESIA
SPONSORED ADR SPONSORED ADR 715684106 213 6,120 SH Sole 6,120
PAN AMERICAN
SILVER CORP COM COM 697900108 3,378 200,000 SH Sole 200,000
PAN AMERICAN
SILVER CORP COM COM 697900108 375 222 SH CALL Sole 222
PAN AMERICAN
SILVER CORP COM COM 697900108 4,675 2,768 SH CALL Sole 2,768
PATTERSON
COMPANIES INC
COM COM 703395103 193 5,600 SH Sole 5,600
PAYCHEX INC COM 704326107 94 3,000 SH Sole 3,000
PEABODY ENERGY
CORP COM COM 704549104 9,416 384,000 SH Sole 384,000
PEABODY ENERGY
CORP COM COM 704549104 1,226 500 SH CALL Sole 500
PEABODY ENERGY
CORP COM COM 704549104 49 2,000 SH Sole 2,000
PEPCO HOLDINGS
INC COM COM 713291102 186 9,500 SH Sole 9,500
PERFECT WORLD CO
LTD SPON ADR
REP B SPON ADR REP B 71372U104 75 7,500 SH Sole 7,500
PERRIGO CO COM COM 714290103 590 5,000 SH Sole 5,000
PETROCHINA CO
LTD SPONSORED
ADR SPONSORED ADR 71646E100 646 5,000 SH Sole 5,000
PFIZER INC COM COM 717081103 115 5,000 SH Sole 5,000
PHILIPPINE LONG
DISTANCE TEL
SPONSORED ADR SPONSORED ADR 718252604 208 3,270 SH Sole 3,270
PHILLIPS 66 COM
ADDED COM 718546104 42 1,250 SH Sole 1,250
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 110 1,100 SH Sole 1,100
PIONEER NAT RES
CO COM COM 723787107 9,403 106,600 SH Sole 106,600
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- ----------------- --------- -------- ----------------------------- ---------- -------- ---------------------
VOTING AUTHORITY
VALUE SHARES OR PUT/ INVESTMENT OTHER ---------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRINCIPAL AMOUNT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-------------- ----------------- --------- -------- ---------------- ------ ----- ---------- -------- ---- --------- ------
PIONEER NAT
RES CO COM COM 723787107 882 100 SH CALL Sole 100
PITNEY BOWES
INC COM COM 724479100 97 6,500 SH Sole 6,500
PLAINS ALL
AMERN
PIPELINE L
UNIT LTD
PARTN UNIT LTD PARTN 726503105 137 1,700 SH Sole 1,700
PLATINUM
GROUP
METALS LTD
COM NEW COM NEW 72765Q205 1,891 2,265,000 SH Sole 2,265,000
PLATINUM
GROUP
METALS /CAD/ COM 72765Q205 64 75,000 SH Sole 75,000
PLUM CREEK
TIMBER CO INC
COM COM 729251108 10,719 270,000 SH Sole 270,000
POLARIS INDS
INC COM COM 731068102 1,072 15,000 SH Sole 15,000
POTASH CORP
SASK INC COM COM 73755L107 11,102 254,100 SH Sole 254,100
POTASH CORP
SASK INC COM COM 73755L107 109 2,500 SH Sole 2,500
POWERSHARES
DB GOLD FUND DB GOLD FUND 73936B606 163 2,946 SH Sole 2,946
POWERSHARES
DB GOLD FUND DB GOLD FUND 73936B606 88 1,594 SH Sole 1,594
POWERSHARES
DB SILVER
FUND DB SILVER FUND 73936B309 92 1,935 SH Sole 1,935
POWERSHARES
DB SILVER
FUND DB SILVER FUND 73936B309 48 1,015 SH Sole 1,015
POWERSHARES
DB
AGRICULTURE
FUND DB AGRICUL FUND 73936B408 102 3,625 SH Sole 3,625
POWERSHARES
DB
AGRICULTURE
FUND DB AGRICUL FUND 73936B408 57 2,025 SH Sole 2,025
PPG INDS INC
COM COM 693506107 212 2,000 SH Sole 2,000
PPL CORP COM COM 69351T106 267 9,600 SH Sole 9,600
PROGRESS
ENERGY INC
COM COM 743263105 212 3,520 SH Sole 3,520
PROGRESSIVE
CORP OHIO
COM COM 743315103 177 8,500 SH Sole 8,500
PROSHARES TR
FTSE CHINA 25 FTSE CHINA 25 74347X658 66 1,495 SH Sole 1,495
PROSHARES TR
FTSE CHINA 25 FTSE CHINA 25 74347X658 37 835 SH Sole 835
PROSHARES TR
PSHS ULTSHRT
QQQ PSHS ULTSHRT QQQ 74347X237 162 5,000 SH Sole 5,000
PROSHARES TR
PSHS ULTSHRT
QQQ PSHS ULTSHRT QQQ 74347X237 113 3,500 SH Sole 3,500
PROSHARES TR
PSHS ULTSHRT
QQQ PSHS ULTSHRT QQQ 74347X237 324 10,000 SH Sole 10,000
PROSHARES TR
PSHS ULTSHRT
QQQ PSHS ULTSHRT QQQ 74347X237 49 1,500 SH Sole 1,500
QUEST
DIAGNOSTICS
INC COM COM 74834L100 180 3,000 SH Sole 3,000
QUESTCOR
PHARMACEUTICALS
INC COM COM 74835Y101 426 8,000 SH Sole 8,000
QUESTCOR
PHARMACEUTICALS
INC COM COM 74835Y101 958 18,000 SH Sole 18,000
RANDGOLD RES
LTD ADR ADR 752344309 6,058 673 SH CALL Sole 673
RANDGOLD RES
LTD ADR ADR 752344309 12,799 1,422 SH CALL Sole 1,422
REVETT
MINERALS INC
COM NEW COM NEW 761505205 1,578 481,000 SH Sole 481,000
REYNOLDS
AMERICAN INC COM 761713106 67 1,500 SH Sole 1,500
RICHMONT
MINES INC
COM COM 76547T106 1,111 240,000 SH Sole 240,000
RICHMONT
MINES INC
COM COM 76547T106 2,477 535,000 SH Sole 535,000
ROSS STORES INC
COM COM 778296103 329 5,270 SH Sole 5,270
ROYAL GOLD INC
COM COM 780287108 5,880 75,000 SH Sole 75,000
RUBICON
MINERALS
CORP COM COM 780911103 4,582 1,500,000 SH Sole 1,500,000
SAFEWAY INC
COM NEW COM NEW 786514208 156 8,600 SH Sole 8,600
SANDRIDGE
MISSISSIPPIAN
TR I SH BEN INT
ADDED SH BEN INT 80007V106 8,089 428,000 SH Sole 428,000
SEAGATE
TECHNOLOGY
PLC SHS SHS G7945M107 148 6,000 SH Sole 6,000
SEAGATE
TECHNOLOGY
PLC SHS SHS G7945M107 309 12,500 SH Sole 12,500
SELECT SECTOR
SPDR TR SBI
MATERIALS SBI MATERIALS 81369Y900 40 2,000 SH PUT Sole 2,000
SEMPRA ENERGY
COM COM 816851109 207 3,000 SH Sole 3,000
SHANDA GAMES
LTD SP ADR
REPTG A SP ADR REPTG A 81941U105 70 17,500 SH Sole 17,500
SILVER STD RES
INC COM COM 82823L106 1,871 1,665 SH CALL Sole 1,665
SILVER STD RES
INC COM COM 82823L106 4,148 3,690 SH CALL Sole 3,690
SILVER
WHEATON
CORP COM COM 828336107 2,416 90,000 SH Sole 90,000
SILVER
WHEATON
CORP COM COM 828336107 4,831 180,000 SH Sole 180,000
SILVERCORP
METALS INC
COM COM 82835P103 830 150,000 SH Sole 150,000
SIMON PPTY
GROUP INC
NEW COM COM 828806109 140 900 SH Sole 900
SINA CORP ORD ORD G81477104 777 15,000 SH Sole 15,000
SM ENERGY CO
COM COM 78454L100 295 60 SH CALL Sole 60
SMITHFIELD
FOODS INC
COM COM 832248108 4,650 215,000 SH Sole 215,000
SOCIEDAD
QUIMICA
MINERA DE C
SPON ADR SER
B SPON ADR SER B 833635105 10,533 189,200 SH Sole 189,200
SOCIEDAD
QUIMICA
MINERA DE C
SPON ADR SER
B SPON ADR SER B 833635105 501 90 SH CALL Sole 90
SOLITARIO EXPL
& RTY CORP
COM COM 8342EP107 1,194 950,000 SH Sole 950,000
SOUTHERN CO
COM COM 842587107 310 6,700 SH Sole 6,700
SOUTHERN
COPPER CORP
COM COM 84265V105 11,155 354,012 SH Sole 354,012
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 1,940 12,500 SH Sole 12,500
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 4,656 30,000 SH Sole 30,000
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 31 200 SH Sole 200
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- --------------- --------- -------- ----------------------------- ---------- -------- -------------------
VOTING AUTHORITY
VALUE SHARES OR PUT/ INVESTMENT OTHER -------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRINCIPAL AMOUNT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-------------- --------------- --------- -------- ---------------- ------ ----- ---------- -------- ---- ------- ------
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 341 2,200 SH Sole 2,200
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 47 300 SH Sole 300
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 528 34 SH CALL Sole 34
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 388 2,500 SH Sole 2,500
SPDR GOLD
TRUST GOLD
SHS GOLD SHS 78463V107 248 1,600 SH Sole 1,600
SPDR SERIES
TRUST S&P
OILGAS EXP S&P OILGAS EXP 78464A730 5,040 1,000 SH PUT Sole 1,000
SPDR SERIES
TRUST S&P
OILGAS EXP S&P OILGAS EXP 78464A730 37 1,000 SH PUT Sole 1,000
SPREADTRUM
COMMUNICATIONS
IN ADR ADR 849415203 180 10,185 SH Sole 10,185
SPREADTRUM
COMMUNICATIONS
IN ADR ADR 849415203 88 4,976 SH Sole 4,976
SPRINT NEXTEL
CORP COM SER
1 COM SER 1 852061100 222 68,000 SH Sole 68,000
STARBUCKS
CORP COM COM 855244109 320 6,000 SH Sole 6,000
STARBUCKS
CORP COM COM 855244109 800 15,000 SH Sole 15,000
SUNOCO INC
COM COM 86764P109 200 4,200 SH Sole 4,200
TAHOE RES INC
COM ADDED COM 873868103 2,073 150,000 SH Sole 150,000
TANGOE INC
COM COM 87582Y108 320 15,000 SH Sole 15,000
TANGOE INC
COM COM 87582Y108 959 45,000 SH Sole 45,000
TC PIPELINES LP
UT COM LTD
PRT UT COM LTD PRT 87233Q108 108 2,500 SH Sole 2,500
TECO ENERGY
INC COM COM 872375100 184 10,200 SH Sole 10,200
TELECOM CORP
NEW ZEALAND
LTD
SPONSORED
ADR SPONSORED ADR 879278208 267 28,295 SH Sole 28,295
TELECOM CORP
NEW ZEALAND
LTD
SPONSORED
ADR SPONSORED ADR 879278208 217 23,000 SH Sole 23,000
TERADATA CORP
DEL COM COM 88076W103 216 3,000 SH Sole 3,000
TERADATA CORP
DEL COM COM 88076W103 432 6,000 SH Sole 6,000
TJX COS INC NEW
COM COM 872540109 339 7,900 SH Sole 7,900
TRANSDIGM
GROUP INC
COM COM 893641100 940 7,000 SH Sole 7,000
TRAVELERS
COMPANIES
INC COM COM 89417E109 192 3,000 SH Sole 3,000
TURKCELL
ILETISIM
HIZMETLERI
SPON ADR NEW SPON ADR NEW 900111204 1,004 80,000 SH Sole 80,000
TYSON FOODS
INC CL A CL A 902494103 14,691 780,200 SH Sole 780,200
TYSON FOODS
INC CL A CL A 902494103 584 310 SH CALL Sole 310
UNION PAC CORP COM 907818108 60 500 SH Sole 500
UNITED RENTALS
INC COM COM 911363109 511 15,000 SH Sole 15,000
URANIUM
ENERGY CORP COM 916896103 125 54,500 SH Sole 54,500
VALERO ENERGY
CORP COM COM 91913Y100 24 1,000 SH Sole 1,000
VANGUARD
NATURAL
RESOURCES
LLC COM UNIT 92205F106 154 5,950 SH Sole 5,950
VENTAS INC COM 92276F100 63 1,000 SH Sole 1,000
VERISIGN INC
COM COM 92343E102 205 4,700 SH Sole 4,700
VERIZON
COMMUNICATIONS
INC COM COM 92343V104 200 4,500 SH Sole 4,500
VERIZON
COMMUNICATIONS
INC COM COM 92343V104 267 6,000 SH Sole 6,000
VODAFONE
GROUP PLC
NEW SPONS
ADR NEW SPONS ADR NEW 92857W209 218 7,730 SH Sole 7,730
WAL-MART
STORES INC
COM COM 931142103 132 1,900 SH Sole 1,900
WALTER ENERGY
INC COM COM 93317Q105 7,816 177,000 SH Sole 177,000
WALTER ENERGY
INC COM COM 93317Q105 1,104 250 SH CALL Sole 250
WEB COM GROUP
INC COM COM 94733A104 824 45,000 SH Sole 45,000
WESTERN GAS
PARTNERS LP
COM UNIT LP
IN COM UNIT LP IN 958254104 10,777 247,000 SH Sole 247,000
WESTERN REFNG
INC COM COM 959319104 779 35,000 SH Sole 35,000
WEYERHAEUSER
CO COM COM 962166104 11,775 526,600 SH Sole 526,600
WEYERHAEUSER
CO COM COM 962166104 112 5,000 SH Sole 5,000
WHITING USA TR
II TR UNIT 966388100 92 4,800 SH Sole 4,800
WHOLE FOODS
MKT INC COM COM 966837106 133 1,400 SH Sole 1,400
WINDSTREAM
CORP COM COM 97381W104 135 14,000 SH Sole 14,000
WISCONSIN
ENERGY CORP
COM COM 976657106 214 5,400 SH Sole 5,400
WYNDHAM
WORLDWIDE
CORP COM COM 98310W108 190 3,600 SH Sole 3,600
XINYUAN REAL
ESTATE CO LTD
SPONS ADR SPONS ADR 98417P105 79 26,000 SH Sole 26,000
YAMANA GOLD
INC COM COM 98462Y100 11,596 753,000 SH Sole 753,000
YAMANA GOLD
INC COM COM 98462Y100 5,082 330,000 SH Sole 330,000
YAMANA GOLD
INC COM COM 98462Y100 10,164 660,000 SH Sole 660,000
YANDEX N V SHS
CLASS A SHS CLASS A N97284108 3,359 176,300 SH Sole 176,300
ZIMMER HLDGS
INC COM COM 98956P102 193 3,000 SH Sole 3,000
GRAND TOTAL 883,759 45,170,817