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 831,706 18,500 SH SOLE 18,500 0 0
Lyondellbasell Industries NV Common Stock N53745100 8,679 150 SH SOLE 150 0 0
Agnico Eagle Mines Ltd Common Stock 008474108 1,731,711 14,596 SH SOLE 14,596 0 0
Alamos Gold Inc-Class A Common Stock 011532108 617,146 23,300 SH SOLE 23,300 0 0
Amazon.com Inc. Common Stock 023135106 4,785,993 21,815 SH SOLE 21,815 0 0
Barrick Gold Corp Common Stock 06849F108 1,409,761 68,000 SH SOLE 68,000 0 0
B2Gold Corp Common Stock 11777Q209 512,700 142,500 SH SOLE 142,500 0 0
CF Industries Holdings INC Common Stock 125269100 11,960 130 SH SOLE 130 0 0
Centerra Gold Inc Common Stock 152006102 185,803 25,900 SH SOLE 25,900 0 0
Cheniere Energy, Inc. Common Stock 16411R208 14,611 60 SH SOLE 60 0 0
Cummins INC Common Stock 231021106 13,100 40 SH SOLE 40 0 0
Drdgold Ltd - Sponsored ADR ADR 26152H301 106,640 8,000 SH SOLE 8,000 0 0
Eastman Chemical Co. Common Stock 277432100 9,706 130 SH SOLE 130 0 0
Eldorado Gold Corp Common Stock 284902509 321,372 15,800 SH SOLE 15,800 0 0
Enterprise Products Partners MLP 293792107 11,784 380 SH SOLE 380 0 0
Equinox Gold Corp Common Stock 29446Y502 197,152 34,300 SH SOLE 34,300 0 0
First Majestic Silver Corp Common Stock 32076V103 350,648 42,400 SH SOLE 42,400 0 0
Fortuna Silver Mines Inc Common Stock 349942102 327,000 50,000 SH SOLE 50,000 0 0
Franco - Nevada Corp Common Stock 351858105 941,715 5,760 SH SOLE 5,760 0 0
Gold Fields Ltd. ADR 38059T106 942,066 39,800 SH SOLE 39,800 0 0
Harmony Gold Mng - Spon ADR ADR 413216300 702,691 50,300 SH SOLE 50,300 0 0
Hecla Mining Co Common Stock 422704106 395,340 66,000 SH SOLE 66,000 0 0
Huntsman Corp. Common Stock 447011107 4,064 390 SH SOLE 390 0 0
KINDER MORGAN INC Common Stock 49456B101 8,820 300 SH SOLE 300 0 0
Kinross Gold Corp Common Stock 496902404 967,934 62,200 SH SOLE 62,200 0 0
Marathon Petroleum Corporation Common Stock 56585A102 16,611 100 SH SOLE 100 0 0
Newmont Mining Corp Common Stock 651639106 1,751,296 30,060 SH SOLE 30,060 0 0
Oneok Inc. Common Stock 682680103 8,979 110 SH SOLE 110 0 0
Pan American Silver Corp Common Stock 697900108 759,700 26,750 SH SOLE 26,750 0 0
Phillips 66 Common Stock 718546104 15,509 130 SH SOLE 130 0 0
Plains All American Pipeline, L.p. MLP 726503105 12,091 660 SH SOLE 660 0 0
Royal Gold Inc Common Stock 780287108 803,837 4,520 SH SOLE 4,520 0 0
Ssr Mining Inc Common Stock 784730103 285,376 22,400 SH SOLE 22,400 0 0
Silvercorp Metals Inc Common Stock 82835P103 197,050 46,700 SH SOLE 46,700 0 0
Union Pacific Corporation Common Stock 907818108 11,504 50 SH SOLE 50 0 0
VALERO ENERGY CORP Common Stock 91913Y100 13,442 100 SH SOLE 100 0 0
Wheaton Precious Metals Corp Common Stock 962879102 1,764,185 19,700 SH SOLE 19,700 0 0
Williams COS INC Common Stock 969457100 15,703 250 SH SOLE 250 0 0