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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
YANDEX N V SHS CLASS A N97284108 51,774 1,507,693 SH   SOLE   1,507,693 0 0
COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 14,562 4,079,056 SH   SOLE   4,079,056 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 49,798 2,881,842 SH   SOLE   2,881,842 0 0
EMBRAER S A SPONSORED ADS 29082A107 32,955 1,733,592 SH   SOLE   1,733,592 0 0
FIRST SOLAR INC COM 336433107 48,275 913,615 SH   SOLE   913,615 0 0
JD COM INC SPON ADR CL A 47215P106 26,352 874,055 SH   SOLE   874,055 0 0
KINROSS GOLD CORP COM 496902404 32,680 9,500,008 SH   SOLE   9,500,008 0 0
QIWI PLC SPON ADR REP B 74735M108 2,937 204,150 SH   SOLE   204,150 0 0
SSR MNG INC COM 784730103 6,933 547,683 SH   SOLE   547,683 0 0