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
Expires: July 31, 2015
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
Anglogold Ashanti Common Stock G0378L100 669,984 25,000 SH SOLE 25,000 0 0
Lyondellbasell Industries NV Common Stock N53745100 14,385 150 SH SOLE 150 0 0
Agnico Eagle Mines Ltd Common Stock 008474108 1,530,928 18,996 SH SOLE 18,996 0 0
Alamos Gold Inc-Class A Common Stock 011532108 767,512 38,500 SH SOLE 38,500 0 0
Amazon.com Inc. Common Stock 023135106 7,461,958 40,047 SH SOLE 40,047 0 0
Barrick Gold Corp Common Stock 067901108 7,317,390 367,738 SH SOLE 367,738 0 0
B2Gold Corp Common Stock 11777Q209 347,852 112,500 SH SOLE 112,500 0 0
CF Industries Holdings INC Common Stock 125269100 11,154 130 SH SOLE 130 0 0
Centerra Gold Inc Common Stock 152006102 308,136 42,900 SH SOLE 42,900 0 0
Cheniere Energy, Inc. Common Stock 16411R208 10,790 60 SH SOLE 60 0 0
Cummins INC Common Stock 231021106 12,952 40 SH SOLE 40 0 0
Drdgold Ltd - Sponsored ADR ADR 26152H301 308,800 32,000 SH SOLE 32,000 0 0
Eastman Chemical Co. Common Stock 277432100 14,554 130 SH SOLE 130 0 0
Eldorado Gold Corp Common Stock 284902509 588,843 33,900 SH SOLE 33,900 0 0
Enterprise Products Partners MLP 293792107 11,062 380 SH SOLE 380 0 0
Equinox Gold Corp Common Stock 29446Y502 361,888 59,300 SH SOLE 59,300 0 0
First Majestic Silver Corp Common Stock 32076V103 137,400 22,900 SH SOLE 22,900 0 0
Fortuna Silver Mines Inc Common Stock 349942102 345,398 74,600 SH SOLE 74,600 0 0
Franco - Nevada Corp Common Stock 351858105 677,204 5,450 SH SOLE 5,450 0 0
Gold Fields Ltd. ADR 38059T106 663,120 43,200 SH SOLE 43,200 0 0
Harmony Gold Mng - Spon ADR ADR 413216300 668,826 65,700 SH SOLE 65,700 0 0
Hecla Mining Co Common Stock 422704106 548,941 82,300 SH SOLE 82,300 0 0
Huntsman Corp. Common Stock 447011107 9,438 390 SH SOLE 390 0 0
KINDER MORGAN INC Common Stock 49456B101 18,114 820 SH SOLE 820 0 0
Kinross Gold Corp Common Stock 496902404 764,772 81,600 SH SOLE 81,600 0 0
Marathon Petroleum Corporation Common Stock 56585A102 16,291 100 SH SOLE 100 0 0
Newmont Mining Corp Common Stock 651639106 8,993,390 168,258 SH SOLE 168,258 0 0
NIKE Inc Common Stock 654106103 1,079,629 12,213 SH SOLE 12,213 0 0
Oneok Inc. Common Stock 682680103 10,024 110 SH SOLE 110 0 0
Pan American Silver Corp Common Stock 697900108 3,314,678 158,825 SH SOLE 158,825 0 0
Phillips 66 Common Stock 718546104 10,516 80 SH SOLE 80 0 0
Plains All American Pipeline, L.p. MLP 726503105 11,464 660 SH SOLE 660 0 0
Royal Gold Inc Common Stock 780287108 317,078 2,260 SH SOLE 2,260 0 0
Ssr Mining Inc Common Stock 784730103 127,232 22,400 SH SOLE 22,400 0 0
Silvercorp Metals Inc Common Stock 82835P103 245,295 56,300 SH SOLE 56,300 0 0
Union Pacific Corporation Common Stock 907818108 12,324 50 SH SOLE 50 0 0
VALERO ENERGY CORP Common Stock 91913Y100 13,503 100 SH SOLE 100 0 0
Wheaton Precious Metals Corp Common Stock 962879102 1,313,663 21,500 SH SOLE 21,500 0 0
Williams COS INC Common Stock 969457100 11,413 250 SH SOLE 250 0 0