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
ACM RESH INC COM CL A 00108J109 6,855,443 264,706 SH SOLE 0 0 0
AGNICO EAGLE MINES LTD COM 008474108 2,697,213 22,679 SH SOLE 0 0 0
ALCON AG ORD SHS H01301128 27,333,183 308,649 SH SOLE 0 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 38,861,817 342,672 SH SOLE 0 0 0
ALLIED GOLD CORP COM NEW 01921D204 10,669,758 793,940 SH SOLE 0 0 0
ALPHABET INC CAP STK CL A 02079K305 59,361,588 336,846 SH SOLE 0 0 0
AMAZON COM INC COM 023135106 160,255,178 730,465 SH SOLE 0 0 0
ANGLOGOLD ASHANTI PLC COM SHS G0378L100 52,267,332 1,146,968 SH SOLE 0 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 3,092,400 45,000 SH SOLE 0 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 4,956,570 93,910 SH SOLE 0 0 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 1,003,150 127,142 SH SOLE 0 0 0
ARIS MNG CORP COM 04040Y109 35,320,674 5,239,248 SH SOLE 0 0 0
ARROW ELECTRS INC COM 042735100 12,265,680 96,253 SH SOLE 0 0 0
AXCELIS TECHNOLOGIES INC COM NEW 054540208 1,723,503 24,731 SH SOLE 0 0 0
B2GOLD CORP COM 11777Q209 12,259,517 3,395,988 SH SOLE 0 0 0
BANK AMERICA CORP COM 060505104 136,453,316 2,883,749 SH SOLE 0 0 0
BARRICK GOLD CORP COM 067901108 191,875,710 9,216,104 SH SOLE 0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,371,930 9,000 SH SOLE 0 0 0
BEST BUY INC COM 086516101 1,369,922 20,407 SH SOLE 0 0 0
BORGWARNER INC COM 099724106 7,147,945 213,507 SH SOLE 0 0 0
BOYD GAMING CORP COM 103304101 6,470,951 82,717 SH SOLE 0 0 0
BP PLC SPONSORED ADR 055622104 68,669,297 2,294,330 SH SOLE 0 0 0
BROOKFIELD CORP CL A LTD VT SH 11271J107 3,494,525 56,500 SH SOLE 0 0 0
CENTERRA GOLD INC COM 152006102 51,590,137 7,153,309 SH SOLE 0 0 0
CHAMPIONX CORPORATION COM 15872M104 8,918,205 359,032 SH SOLE 0 0 0
CHEESECAKE FACTORY INC COM 163072101 18,649,433 297,629 SH SOLE 0 0 0
CHEVRON CORP NEW COM 166764100 1,575,090 11,000 SH SOLE 0 0 0
CITIGROUP INC COM NEW 172967424 80,746,925 948,652 SH SOLE 0 0 0
COEUR MNG INC COM NEW 192108504 32,289,393 3,644,401 SH SOLE 0 0 0
COMCAST CORP NEW CL A 20030N101 2,672,289 74,875 SH SOLE 0 0 0
COOPER COS INC COM 216648501 17,623,628 247,662 SH SOLE 0 0 0
COPA HOLDINGS SA CL A P31076105 6,211,769 56,488 SH SOLE 0 0 0
DORMAN PRODS INC COM 258278100 6,822,298 55,616 SH SOLE 0 0 0
EAST WEST BANCORP INC COM 27579R104 392,812 3,890 SH SOLE 0 0 0
ELDORADO GOLD CORP NEW COM 284902509 22,242,868 1,093,553 SH SOLE 0 0 0
ENDAVA PLC ADS 29260V105 3,204,745 209,187 SH SOLE 0 0 0
ENERSYS COM 29275Y102 5,604,555 65,344 SH SOLE 0 0 0
EQUINOX GOLD CORP COM 29446Y502 43,267,230 7,499,601 SH SOLE 0 0 0
EXELIXIS INC COM 30161Q104 3,363,347 76,310 SH SOLE 0 0 0
EXXON MOBIL CORP COM 30231G102 29,829,291 276,717 SH SOLE 0 0 0
FLUOR CORP NEW COM 343412102 953,109 18,590 SH SOLE 0 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 823,840 8,000 SH SOLE 0 0 0
FOX CORP CL A COM 35137L105 12,903,372 230,258 SH SOLE 0 0 0
GALIANO GOLD INC COM 36352H100 24,093,025 18,943,252 SH SOLE 0 0 0
GE AEROSPACE COM NEW 369604301 23,723,740 92,175 SH SOLE 0 0 0
GEN DIGITAL INC COM 668771108 10,521,960 357,900 SH SOLE 0 0 0
GENPACT LIMITED SHS G3922B107 6,494,054 147,560 SH SOLE 0 0 0
GILEAD SCIENCES INC COM 375558103 4,999,772 45,097 SH SOLE 0 0 0
GOLDMINING INC COM 38149E101 649,862 901,996 SH SOLE 0 0 0
GRIFFON CORP COM 398433102 2,990,261 41,320 SH SOLE 0 0 0
BLOCK H & R INC COM 093671105 6,893,914 125,597 SH SOLE 0 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 2,259,107 43,428 SH SOLE 0 0 0
HARMONY BIOSCIENCES HLDGS IN COM 413197104 2,724,194 86,211 SH SOLE 0 0 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 9,013,305 440,760 SH SOLE 0 0 0
IAMGOLD CORP COM 450913108 1,898,505 258,300 SH SOLE 0 0 0
INCYTE CORP COM 45337C102 4,721,032 69,325 SH SOLE 0 0 0
INTEGRA RES CORP COM 45826T509 4,911,627 3,243,153 SH SOLE 0 0 0
INTERPUBLIC GROUP COS INC COM 460690100 12,178,408 497,484 SH SOLE 0 0 0
IQVIA HLDGS INC COM 46266C105 32,759,792 207,887 SH SOLE 0 0 0
JPMORGAN CHASE & CO. COM 46625H100 2,029,370 7,000 SH SOLE 0 0 0
KB HOME COM 48666K109 5,707,570 107,751 SH SOLE 0 0 0
KINROSS GOLD CORP COM NO PAR 496902404 14,705,282 940,837 SH SOLE 0 0 0
M & T BK CORP COM 55261F104 2,525,750 13,020 SH SOLE 0 0 0
MATCH GROUP INC NEW COM 57667L107 8,830,312 285,867 SH SOLE 0 0 0
MATSON INC COM 57686G105 3,422,863 30,740 SH SOLE 0 0 0
MAXIMUS INC COM 577933104 7,326,217 104,359 SH SOLE 0 0 0
MERCK & CO INC COM 58933Y105 7,197,944 90,932 SH SOLE 0 0 0
MOLSON COORS BEVERAGE CO CL B 60871R209 8,801,143 183,014 SH SOLE 0 0 0
MUELLER INDS INC COM 624756102 5,568,880 70,076 SH SOLE 0 0 0
NEW GOLD INC CDA COM 644535106 5,940,663 1,200,134 SH SOLE 0 0 0
NEWMONT CORP COM 651639106 291,294,267 4,999,932 SH SOLE 0 0 0
NOBLE CORP PLC ORD SHS A G65431127 7,585,839 285,719 SH SOLE 0 0 0
NOVAGOLD RES INC COM NEW 66987E206 1,732,810 423,670 SH SOLE 0 0 0
OSHKOSH CORP COM 688239201 3,960,796 34,886 SH SOLE 0 0 0
OVINTIV INC COM 69047Q102 9,743,802 256,076 SH SOLE 0 0 0
OWENS CORNING NEW COM 690742101 3,928,121 28,564 SH SOLE 0 0 0
PAN AMERN SILVER CORP COM 697900108 25,938,544 913,329 SH SOLE 0 0 0
PFIZER INC COM 717081103 33,923,497 1,399,513 SH SOLE 0 0 0
PHILIP MORRIS INTL INC COM 718172109 17,139,609 94,109 SH SOLE 0 0 0
PILGRIMS PRIDE CORP COM 72147K108 10,171,642 226,137 SH SOLE 0 0 0
PNC FINL SVCS GROUP INC COM 693475105 24,349,829 130,619 SH SOLE 0 0 0
POWELL INDS INC COM 739128106 3,634,359 17,271 SH SOLE 0 0 0
PULTE GROUP INC COM 745867101 6,612,421 62,701 SH SOLE 0 0 0
REV GROUP INC COM 749527107 4,873,077 102,398 SH SOLE 0 0 0
ROYALTY PHARMA PLC SHS CLASS A G7709Q104 6,410,705 177,931 SH SOLE 0 0 0
RYANAIR HOLDINGS PLC SPONSORED ADS 783513203 53,736,437 931,799 SH SOLE 0 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 1,974,846 210,090 SH SOLE 0 0 0
SKEENA RES LTD NEW COM 83056P715 24,071,426 1,511,655 SH SOLE 0 0 0
SMURFIT WESTROCK PLC SHS G8267P108 196,094,608 4,544,710 SH SOLE 0 0 0
SUNCOR ENERGY INC NEW COM 867224107 34,848,320 929,257 SH SOLE 0 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 29,604,734 130,711 SH SOLE 0 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 6,235,401 101,520 SH SOLE 0 0 0
TD SYNNEX CORPORATION COM 87162W100 11,666,551 85,976 SH SOLE 0 0 0
TENARIS S A SPONSORED ADR 88031M109 2,219,653 59,349 SH SOLE 0 0 0
TOLL BROTHERS INC COM 889478103 6,697,183 58,679 SH SOLE 0 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 3,092,748 10,763 SH SOLE 0 0 0
WELLS FARGO CO NEW COM 949746101 400,600 5,000 SH SOLE 0 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 17,015,663 189,484 SH SOLE 0 0 0