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
BARRICK GOLD CORP COM 067901108 2,854 161,306 SH   SOLE   161,306 0 0
CATERPILLAR INC COM 149123101 3,321 18,580 SH   SOLE   18,580 0 0
CHEVRON CORP NEW COM 166764100 4,077 28,159 SH   SOLE   28,159 0 0
CIENA CORP COM NEW 171779309 210 4,597 SH   SOLE   4,597 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 760 115,136 SH   SOLE   115,136 0 0
CONOCOPHILLIPS COM 20825C104 4,368 48,640 SH   SOLE   48,640 0 0
COSTCO WHSL CORP NEW COM 22160K105 3,386 7,064 SH   SOLE   7,064 0 0
CUMMINS INC COM 231021106 3,179 16,427 SH   SOLE   16,427 0 0
D R HORTON INC COM 23331A109 4,145 62,626 SH   SOLE   62,626 0 0
DEERE & CO COM 244199105 3,993 13,334 SH   SOLE   13,334 0 0
DEVON ENERGY CORP NEW COM 25179M103 4,363 79,170 SH   SOLE   79,170 0 0
EATON CORP PLC SHS G29183103 2,242 17,793 SH   SOLE   17,793 0 0
EOG RES INC COM 26875P101 2,545 23,046 SH   SOLE   23,046 0 0
FRANCO NEV CORP COM 351858105 4,560 34,656 SH   SOLE   34,656 0 0
FREEPORT-MCMORAN INC CL B 35671D857 2,477 84,639 SH   SOLE   84,639 0 0
GOLAR LNG LTD SHS G9456A100 2,405 105,729 SH   SOLE   105,729 0 0
INTEL CORP COM 458140100 1,755 46,912 SH   SOLE   46,912 0 0
ISHARES SILVER TR ISHARES 46428Q109 252 13,513 SH   SOLE   13,513 0 0
LENNAR CORP CL A 526057104 2,485 35,218 SH   SOLE   35,218 0 0
MOSAIC CO NEW COM 61945C103 3,806 80,590 SH   SOLE   80,590 0 0
NEWMONT CORP COM 651639106 3,597 60,280 SH   SOLE   60,280 0 0
NORFOLK SOUTHN CORP COM 655844108 4,333 19,063 SH   SOLE   19,063 0 0
RIO TINTO PLC SPONSORED ADR 767204100 2,626 43,057 SH   SOLE   43,057 0 0
ROCKWELL AUTOMATION INC COM 773903109 2,363 11,857 SH   SOLE   11,857 0 0
SCHLUMBERGER LTD COM STK 806857108 3,932 109,958 SH   SOLE   109,958 0 0
SHERWIN WILLIAMS CO COM 824348106 3,057 13,654 SH   SOLE   13,654 0 0
SPDR GOLD TR GOLD SHS 78463V107 402 2,385 SH   SOLE   2,385 0 0
ST JOE CO COM 790148100 1,888 47,721 SH   SOLE   47,721 0 0
UNION PAC CORP COM 907818108 3,563 16,705 SH   SOLE   16,705 0 0
VALE S A SPONSORED ADS 91912E105 2,695 184,210 SH   SOLE   184,210 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106 4,270 155,947 SH   SOLE   155,947 0 0
VANECK ETF TRUST VANECK RUSSIA ET 92189F403 0 86,773 SH   SOLE   86,773 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 2,112 58,617 SH   SOLE   58,617 0 0