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
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
HECLA MNG CO COM COM 422704106 90 17,299 SH   SOLE NONE 17,299 0 0
ISHARES MSCI EMERGING MARKETS ETF MSCI EMG MKT ETF 464287234 32,473 664,757 SH   SOLE NONE 664,757 0 0
ISHARES MSCI EMERGING MARKETS ETF MSCI EMG MKT ETF 464287234 32,377 662,800 SH Put SOLE NONE 662,800 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 154 13,900 SH   SOLE NONE 13,900 0 0
DIREXION DAILY S&P 500 BEAR 1X SHARES DLY S&P500 BR 1X 25460E869 23,867 1,698,749 SH   SOLE NONE 1,698,749 0 0
SPDR S&P 500 ETF TR UNIT 78462F103 379 800 SH Put SOLE NONE 800 0 0
SPDR S&P 500 ETF TR UNIT 78462F103 1,234 2,600 SH Put SOLE NONE 2,600 0 0
SPDR S&P 500 ETF TR UNIT 78462F103 332 700 SH Put SOLE NONE 700 0 0
BAXTER INTL INC COM COM 071813109 388 4,522 SH   SOLE NONE 4,522 0 0
MICROSOFT COM 594918104 285 850 SH   SOLE NONE 850 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 274 19,125 SH   SOLE NONE 19,125 0 0
SPROTT PHYSICAL SILVER TR UNIT 85207K107 635 79,232 SH   SOLE NONE 79,232 0 0
MARKET VECTORS GOLD MINERS INDEX ETF GOLD MINERS ETF 92189F106 41,203 1,286,391 SH   SOLE NONE 1,286,391 0 0
MARKET VECTORS GOLD MINERS INDEX ETF GOLD MINERS ETF 92189F106 38,724 1,209,000 SH Put SOLE NONE 1,209,000 0 0
MARKET VECTORS GOLD MINERS INDEX ETF GOLD MINERS ETF 92189F106 38,737 1,209,400 SH Put SOLE NONE 1,209,400 0 0
PROSHARES TR SHORT S&P 500 PROSHARES SHORT S&P 500 NE 74347B425 2,612 191,828 SH   SOLE NONE 191,828 0 0
GLOBAL X SILVER MINERS ETF GLOBAL X SILVER 37954Y848 540 14,735 SH   SOLE NONE 14,735 0 0
FRANCO NEV CORP COM COM 351858105 202 1,466 SH   SOLE NONE 1,466 0 0
DENISON MINES CORP COM COM 248356107 85 62,600 SH   SOLE NONE 62,600 0 0
SPDR S&P METALS & MNG ETF S&P METALS MNG 78464A755 28,109 627,725 SH   SOLE NONE 627,725 0 0
SPDR S&P METALS & MNG ETF S&P METALS MNG 78464A755 27,987 625,000 SH Put SOLE NONE 625,000 0 0
MARKET VECTORS ETF TR JR GOLD MINERS ETF NEW JUNIOR GOLD MINE 92189F791 3,335 79,559 SH   SOLE NONE 79,559 0 0
SPDR PORTFOLIO SHORT TERM TREASURY ETF PORTFOLIO SH TSR 78468R101 1,098 36,096 SH   SOLE NONE 36,096 0 0
SPDR PORTFOLIO EMERGING MARKETS ETF PORTFOLIO EMG MK 78463X509 287 6,939 SH   SOLE NONE 6,939 0 0
NEXGEN ENERGY LTD COM COM 65340P106 48 11,000 SH   SOLE NONE 11,000 0 0
CENTRAL FUND OF CANADA LTD TR UNIT 85208R101 7,358 414,804 SH   SOLE NONE 414,804 0 0
CAMECO CORP COM COM 13321L108 7,862 360,484 SH   SOLE NONE 360,484 0 0
SPDR BLOOMBERG 1-3 MONTH T-BILL ETF BLOOMBERG 1-3 MO 78468R663 362 3,966 SH   SOLE NONE 3,966 0 0