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
APPLE INC COM 037833100 17 5,100 SH Put SOLE   5,100 0 0
APPLE INC COM 037833100 53 2,700 SH Put SOLE   2,700 0 0
AUTOZONE INC COM 053332102 85 700 SH Put SOLE   700 0 0
BRASILAGRO BRAZILIAN AGRIC R SPONSORED ADR 10554B104 47 11,325 SH   SOLE   11,325 0 0
CAMECO CORP COM 13321L108 116,277 10,836,651 SH   SOLE   9,415,325 0 1,421,326
CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 352 38,558 SH   SOLE   38,558 0 0
DOMINOS PIZZA INC COM 25754A201 45 4,000 SH Put SOLE   4,000 0 0
GENERAL ELECTRIC CO COM 369604103 13,175 1,254,783 SH   SOLE   1,083,418 0 171,365
HOME DEPOT INC COM 437076102 7 4,200 SH Put SOLE   4,200 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 4,386 7,829,912 SH   SOLE   6,473,097 0 1,356,815
ISHARES TR MSCI EMG MKT ETF 464287234 591 767,600 SH Put SOLE   767,600 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 12 135,600 SH Call SOLE   135,600 0 0
KT CORP SPONSORED ADR 48268K101 87,765 7,094,985 SH   SOLE   6,181,247 0 913,738
KINROSS GOLD CORP COM 496902404 131 33,669 SH   SOLE   33,669 0 0
KOREA ELECTRIC PWR SPONSORED ADR 500631106 23,469 2,114,349 SH   SOLE   1,785,351 0 328,998
NEW GOLD INC CDA COM 644535106 37,595 39,108,151 SH   SOLE   33,972,319 0 5,135,832
NIKE INC CL B 654106103 10 9,700 SH Put SOLE   9,700 0 0
NIKE INC CL B 654106103 32 7,400 SH Put SOLE   7,400 0 0
NORTHERN DYNASTY MINERALS LT COM NEW 66510M204 5,263 8,742,118 SH   SOLE   7,204,860 0 1,537,258
NOVAGOLD RES INC COM NEW 66987E206 27,428 4,640,986 SH   SOLE   3,819,453 0 821,533
RANGE RES CORP COM 75281A109 78,238 11,208,853 SH   SOLE   9,420,339 0 1,788,514
ROYAL GOLD INC COM 780287108 3,046 29,723 SH   SOLE   29,723 0 0
SSR MNG INC COM 784730103 195 14,276 SH   SOLE   14,276 0 0
STARBUCKS CORP COM 855244109 27 18,600 SH Put SOLE   18,600 0 0
TIFFANY & CO NEW COM 886547108 75 2,500 SH Put SOLE   2,500 0 0
TURQUOISE HILL RES LTD COM 900435108 78,273 63,123,381 SH   SOLE   54,165,528 0 8,957,853
Wheaton Precious Metals Corp COM 962879102 73,706 3,048,228 SH   SOLE   2,636,222 0 412,006
TSAKOS ENERGY NAVIGATION LTD SHS G9108L108 19,482 5,921,679 SH   SOLE   4,778,435 0 1,143,244
DIANA SHIPPING INC COM Y2066G104 16,294 4,922,793 SH   SOLE   4,137,362 0 785,431