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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 5,109 28,000 SH   SOLE   28,000 0 0
ALIO GOLD INC COM 01627X108 4,058 5,526,793 SH   SOLE   5,526,793 0 0
ALPHABET INC CAP STK CL A 02079K305 1,911 1,624 SH   SOLE   1,624 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 762 24,000 SH   SOLE   24,000 0 0
ANGLOGOLD ASHANTI LTD SPONS ADR 035128206 68,663 5,243,468 SH   SOLE   5,243,468 0 0
APERGY CORP COM 03755L104 5,803 141,249 SH   SOLE   141,249 0 0
APPLE INC COM 037833100 16,091 84,709 SH   SOLE   84,709 0 0
APTIV PLC SHS G6095L109 18,911 237,895 SH   SOLE   237,895 0 0
ASANKO GOLD INC COM 04341Y105 12,560 19,722,289 SH   SOLE   19,722,289 0 0
AVON PRODS INC COM 054303102 147 50,000 SH   SOLE   50,000 0 0
AXALTA COATING SYS LTD COM G0750C108 630 25,000 SH   SOLE   25,000 0 0
BARRICK GOLD CORPORATION COM 067901108 264,891 19,314,304 SH   SOLE   19,314,304 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 603 3,000 SH   SOLE   3,000 0 0
BIOGEN INC COM 09062X103 827 3,500 SH   SOLE   3,500 0 0
BLACKBERRY LTD COM 09228F103 1,741 172,500 SH   SOLE   172,500 0 0
CARMAX INC COM 143130102 419 6,000 SH   SOLE   6,000 0 0
CELGENE CORP COM 151020104 226,613 2,402,474 SH   SOLE   2,402,474 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 6,025 1,300,000 SH   SOLE   1,300,000 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 780 2,250 SH   SOLE   2,250 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 37,980 300,309 SH   SOLE   300,309 0 0
CIGNA CORP NEW COM 125523100 295,804 1,839,179 SH   SOLE   1,839,179 0 0
CISCO SYS INC COM 17275R102 1,254 23,219 SH   SOLE   23,219 0 0
CLEVELAND CLIFFS INC COM 185899101 174,763 17,502,815 SH   SOLE   17,502,815 0 0
COEUR MNG INC COM NEW 192108504 6,818 1,673,063 SH   SOLE   1,673,063 0 0
COTY INC COM CL A 222070203 517 45,000 SH   SOLE   45,000 0 0
CRITEO S A SPONS ADS 226718104 361 18,000 SH   SOLE   18,000 0 0
DEERE & CO COM 244199105 463 2,900 SH   SOLE   2,900 0 0
DELPHI TECHNOLOGIES PLC SHS G2709G107 21,337 1,107,286 SH   SOLE   1,107,286 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,033 20,000 SH   SOLE   20,000 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 867 106,500 SH   SOLE   106,500 0 0
DIANA SHIPPING INC COM Y2066G104 283 100,000 SH   SOLE   100,000 0 0
DOW INC COM 260557103 365 7,000 SH   SOLE   7,000 0 0
DOWDUPONT INC COM 26078J100 302,438 5,673,731 SH   SOLE   5,673,731 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 7,429 3,714,498 SH   SOLE   3,714,498 0 0
ELDORADO GOLD CORP NEW COM 284902509 11,067 2,392,788 SH   SOLE   2,392,788 0 0
EXXON MOBIL CORP COM 30231G102 283,553 3,509,537 SH   SOLE   3,509,537 0 0
FIESTA RESTAURANT GROUP INC COM 31660B101 262 20,000 SH   SOLE   20,000 0 0
FOOT LOCKER INC COM 344849104 662 10,932 SH   SOLE   10,932 0 0
FORTUNA SILVER MINES INC COM 349915108 1,822 545,200 SH   SOLE   545,200 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 1,357 28,500 SH   SOLE   28,500 0 0
FOX CORP CL A COM 35137L105 33,210 904,538 SH   SOLE   904,538 0 0
FREEPORT-MCMORAN INC CL B 35671D857 7,437 577,148 SH   SOLE   577,148 0 0
GENERAL ELECTRIC CO COM 369604103 407 40,800 SH   SOLE   40,800 0 0
GENERAL MTRS CO COM 37045V100 241,073 6,497,087 SH   SOLE   6,497,087 0 0
GOLD FIELDS LTD NEW SPONS ADR 38059T106 42,424 11,358,626 SH   SOLE   11,358,626 0 0
GOLDCORP INC NEW COM 380956409 159,881 13,969,607 SH   SOLE   13,969,607 0 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 5,287 2,775,555 SH   SOLE   2,775,555 0 0
HOLLYSYS AUTOMATION TECHNOLO SHS G45667105 5,855 279,390 SH   SOLE   279,390 0 0
IAMGOLD CORP COM 450913108 47,166 13,612,155 SH   SOLE   13,612,155 0 0
IMPERIAL OIL LTD COM NEW 453038408 2,977 108,734 SH   SOLE   108,734 0 0
IMV INC COM 44974L103 27,313 6,801,225 SH   SOLE   6,801,225 0 0
INGEVITY CORP COM 45688C107 777 7,350 SH   SOLE   7,350 0 0
INTERNATIONAL GAME TECHNOLOG SHS USD G4863A108 325 25,000 SH   SOLE   25,000 0 0
JEFFERIES FINL GROUP INC COM 47233W109 30,313 1,612,891 SH   SOLE   1,612,891 0 0
JPMORGAN CHASE & CO COM 46625H100 670 6,616 SH   SOLE   6,616 0 0
KINROSS GOLD CORP COM NO PAR 496902404 223,867 66,624,975 SH   SOLE   66,624,975 0 0
LEIDOS HLDGS INC COM 525327102 340 5,300 SH   SOLE   5,300 0 0
LENNAR CORP CL A 526057104 2,248 45,798 SH   SOLE   45,798 0 0
MARSH & MCLENNAN COS INC COM 571748102 342 3,640 SH   SOLE   3,640 0 0
MATTEL INC COM 577081102 520 40,000 SH   SOLE   40,000 0 0
MCKESSON CORP COM 58155Q103 137,373 1,173,583 SH   SOLE   1,173,583 0 0
MICROSOFT CORP COM 594918104 5,544 47,001 SH   SOLE   47,001 0 0
MOHAWK INDS INC COM 608190104 1,325 10,500 SH   SOLE   10,500 0 0
NATIONAL OILWELL VARCO INC COM 637071101 187,035 7,019,547 SH   SOLE   7,019,547 0 0
NEWMONT MNG CORP COM 651639106 71,284 1,991,999 SH   SOLE   1,991,999 0 0
NORBORD INC COM NEW 65548P403 592 21,500 SH   SOLE   21,500 0 0
NXP SEMICONDUCTORS N V COM N6596X109 6,281 71,073 SH   SOLE   71,073 0 0
PAN AMERICAN SILVER CORP COM 697900108 14,513 1,094,890 SH   SOLE   1,094,890 0 0
PATTERSON UTI ENERGY INC COM 703481101 761 54,302 SH   SOLE   54,302 0 0
PERSHING GOLD CORP COM NEW 715302204 2,126 1,817,473 SH   SOLE   1,817,473 0 0
PHILIP MORRIS INTL INC COM 718172109 2,431 27,500 SH   SOLE   27,500 0 0
PHILLIPS 66 COM 718546104 2,257 23,715 SH   SOLE   23,715 0 0
PLATINUM GROUP METALS LTD COM 72765Q882 216 138,421 SH   SOLE   138,421 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 333 5,200 SH   SOLE   5,200 0 0
SEACOR HOLDINGS INC COM 811904101 973 23,000 SH   SOLE   23,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 610 4,997 SH   SOLE   4,997 0 0
SPECTRUM BRANDS HLDGS INC NE COM 84790A105 301 5,500 SH   SOLE   5,500 0 0
SYNCHRONY FINL COM 87165B103 49,313 1,546,137 SH   SOLE   1,546,137 0 0
TENARIS S A SPONSORED ADR 88031M109 14,404 509,800 SH   SOLE   509,800 0 0
TIDEWATER INC NEW COM 88642R109 348 15,000 SH   SOLE   15,000 0 0
TORTOISE MIDSTRM ENERGY FD I COM 89148B101 2,423 172,658 SH   SOLE   172,658 0 0
UBS GROUP AG SHS H42097107 174 14,354 SH   SOLE   14,354 0 0
US BANCORP DEL COM NEW 902973304 986 20,475 SH   SOLE   20,475 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 846 37,734 SH   SOLE   37,734 0 0
VANECK VECTORS ETF TR JR GOLD MINERS E 92189F791 1,093 34,456 SH   SOLE   34,456 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 759 12,000 SH   SOLE   12,000 0 0
WALMART INC COM 931142103 312 3,196 SH   SOLE   3,196 0 0
DISNEY WALT CO COM DISNEY 254687106 570,213 5,134,988 SH   SOLE   5,134,988 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 177,958 9,138,566 SH   SOLE   9,138,566 0 0
YAMANA GOLD INC COM 98462Y100 23,013 8,834,181 SH   SOLE   8,834,181 0 0