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
BLACKROCK CORPOR HI YLD FD I COM 09255P107 4,335 383,666 SH   SOLE 383,666 0 0
COEUR MNG INC COM NEW 192108504 7,978 868,095 SH   SOLE 868,095 0 0
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 14,442 4,879,168 SH   SOLE 4,879,168 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 14,256 1,114,614 SH   SOLE 1,114,614 0 0
INVESCO DYNAMIC CR OPP FD COM 46132R104 5,086 426,716 SH   SOLE 426,716 0 0
ISHARES INC MSCI BRZ CAP ETF 464286400 20,409 489,546 SH   SOLE 489,546 0 0
ISHARES TR JPMORGAN USD EMG 464288281 4,545 39,042 SH   SOLE 39,042 0 0
KINROSS GOLD CORP COM NO PAR 496902404 165 38,931 SH   SOLE 38,931 0 0
PRUDENTIAL SHT DURATION HG Y COM 74442F107 1,024 67,075 SH   SOLE 67,075 0 0
PUTNAM PREMIER INCOME TR SH BEN INT 746853100 987 185,607 SH   SOLE 185,607 0 0
REDWOOD TR INC COM 758075402 2,181 133,877 SH   SOLE 133,877 0 0
SIBANYE STILLWATER SPONSORED ADR 825724206 95 21,328 SH   SOLE 21,328 0 0
SPDR INDEX SHS FDS S&P EM MKT DIV 78463X533 345 11,325 SH   SOLE 11,325 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755 16,323 507,240 SH   SOLE 507,240 0 0
STARWOOD PPTY TR INC COM 85571B105 2,541 117,009 SH   SOLE 117,009 0 0
SUN LIFE FINL INC COM 866796105 2,841 71,356 SH   SOLE 71,356 0 0
UNITED STATES STL CORP NEW COM 912909108 17,086 665,862 SH   SOLE 665,862 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 21,184 922,641 SH   SOLE 922,641 0 0
VANECK VECTORS ETF TR STEEL ETF 92189F205 35,604 843,706 SH   SOLE 843,706 0 0
VANECK VECTORS ETF TR JR GOLD MINERS E 92189F791 20,632 614,216 SH   SOLE 614,216 0 0
YAMANA GOLD INC COM 98462Y100 163 61,669 SH   SOLE 61,669 0 0