0000869178-11-000077.txt : 20111114
0000869178-11-000077.hdr.sgml : 20111111
20111114095441
ACCESSION NUMBER: 0000869178-11-000077
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110930
FILED AS OF DATE: 20111114
DATE AS OF CHANGE: 20111114
EFFECTIVENESS DATE: 20111114
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: VAN ECK ASSOCIATES CORP
CENTRAL INDEX KEY: 0000869178
IRS NUMBER: 133210061
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-02783
FILM NUMBER: 111198453
BUSINESS ADDRESS:
STREET 1: 335 MADISON AVENUE
STREET 2: 19TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 2122932000
MAIL ADDRESS:
STREET 1: 335 MADISON AVENUE
STREET 2: 19TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10017
13F-HR
1
september11.txt
SEPTEMBER 2011 13F
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 9/30/2011
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: VAN ECK ASSOCIATES CORP.
Address: 335 MADISON AVENUE- 19TH FLOOR
NEW YORK, NY 10017
13F File Number: 28-02783
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: RUSSELL BRENNAN
Title: ASSISTANT VICE PRESIDENT
Phone: (212) 293-2125
Signature, Place, and Date of Signing:
RUSSELL BRENNAN NEW YORK, NY November 15, 2011
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
Form 13F File Number Name
028- Van Eck Associates Corp
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 293
Form 13F Information Table Value Total: $18,529,667 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.
NONE
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ABITIBIBOWATER INC COM NEW 003687209 138 9173 SH SOLE 9173 0 0
AGCO CORP COM 001084102 60139 1739638 SH SOLE 1739638 0 0
AGNICO EAGLE MINES LTD COM 008474108 606484 10189588 SH SOLE 10013188 0 176400
AGRIUM INC COM 008916108 189575 2843905 SH SOLE 2843905 0 0
AK STL HLDG CORP COM 001547108 1492 228167 SH SOLE 228167 0 0
ALCOA INC COM 013817101 342 35748 SH SOLE 35748 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 6614 178810 SH SOLE 178810 0 0
ALLIED NEVADA GOLD CORP COM 019344100 26974 753253 SH SOLE 683253 0 70000
ALPHA NATURAL RESOURCES INC COM 02076X102 98056 5543013 SH SOLE 5509850 0 33163
ALUMINUM CORP CHINA LTD SPON ADR H SHS 022276109 55 5302 SH SOLE 5302 0 0
AMERICAN SUPERCONDUCTOR CORP COM 030111108 427 108775 SH SOLE 108775 0 0
AMERISTAR CASINOS INC COM 03070Q101 530 32999 SH SOLE 32999 0 0
ANADARKO PETE CORP COM 032511107 238529 3783168 SH SOLE 3755218 0 27950
ANDERSONS INC COM 034164103 11287 335634 SH SOLE 335634 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 558022 13491820 SH SOLE 13373820 0 118000
ANNALY CAP MGMT INC COM 035710409 903 54329 SH SOLE 54329 0 0
APACHE CORP COM 037411105 72366 901866 SH SOLE 895266 0 6600
AQUA AMERICA INC COM 03836W103 350 16245 SH SOLE 16245 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 11233 706022 SH SOLE 706022 0 0
ARCH COAL INC COM 039380100 12697 870869 SH SOLE 870869 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 229305 9242462 SH SOLE 9242462 0 0
AURICO GOLD INC COM 05155c105 170078 18093396 SH SOLE 17910659 0 182737
AURIZON MINES LTD COM 05155P106 54508 10750996 SH SOLE 10580096 0 170900
BAKER HUGHES INC COM 057224107 611 13246 SH SOLE 13246 0 0
BALLY TECHNOLOGIES INC COM 05874B107 1225 45418 SH SOLE 45418 0 0
BANCO MACRO SA SPON ADR B 05961W105 83 4141 SH SOLE 4141 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 105 1892 SH SOLE 1892 0 0
BARRICK GOLD CORP COM 067901108 1477467 31671310 SH SOLE 31671310 0 0
BERRY PETE CO CL A 085789105 56718 1603113 SH SOLE 1591224 0 11889
BOYD GAMING CORP COM 103304101 273 55666 SH SOLE 55666 0 0
BPZ RESOURCES INC COM 055639108 58 20846 SH SOLE 20846 0 0
BRF-BRASIL FOODS S A SPONSORED ADR 10552T107 223890 12771846 SH SOLE 12771846 0 0
BRIGHAM EXPLORATION CO COM 109178103 102399 4052200 SH SOLE 4022400 0 29800
BUNGE LIMITED COM G16962105 154970 2658611 SH SOLE 2658611 0 0
CABOT OIL & GAS CORP COM 127097103 80865 1306173 SH SOLE 1297173 0 9000
CALGON CARBON CORP COM 129603106 958 65732 SH SOLE 65732 0 0
CAMECO CORP COM 13321L108 6414 350091 SH SOLE 350091 0 0
CAMERON INTERNATIONAL CORP COM 13342B105 152665 3675142 SH SOLE 3649542 0 25600
CANADIAN NAT RES LTD COM 136385101 976 33338 SH SOLE 33338 0 0
CANADIAN SOLAR INC COM 136635109 151 40900 SH SOLE 40900 0 0
CARPENTER TECHNOLOGY CORP COM 144285103 4103 91392 SH SOLE 91392 0 0
CASELLA WASTE SYS INC CL A 147448104 429 81475 SH SOLE 81475 0 0
CASTLE A M & CO COM 148411101 522 47673 SH SOLE 47673 0 0
CENTRAL EUROPEAN DIST CORP COM 153435102 892 127243 SH SOLE 127243 0 0
CENTRAL VT PUB SVC CORP COM 155771108 5724 162557 SH SOLE 162557 0 0
CF INDS HLDGS INC COM 125269100 159653 1293889 SH SOLE 1293889 0 0
CHESAPEAKE ENERGY CORP COM 165167107 493 19300 SH SOLE 19300 0 0
CHEVRON CORP NEW COM 166764100 5634 60847 SH SOLE 60847 0 0
CHINA SUNERGY CO LTD SPON ADR 16942X104 40 29311 SH SOLE 29311 0 0
CHIQUITA BRANDS INTL INC COM 170032809 6757 810176 SH SOLE 810176 0 0
CHURCHILL DOWNS INC COM 171484108 500 12816 SH SOLE 12816 0 0
CIMAREX ENERGY CO COM 171798101 105055 1886094 SH SOLE 1873394 0 12700
CLEAN HARBORS INC COM 184496107 914 17813 SH SOLE 17813 0 0
CLIFFS NATURAL RESOURCES INC COM 18683K101 49175 961011 SH SOLE 954811 0 6200
CLOUD PEAK ENERGY INC COM 18911Q102 5964 351848 SH SOLE 351848 0 0
CNH GLOBAL N V SHS NEW N20935206 152603 3948335 SH SOLE 3948335 0 0
CNH GLOBAL N V SHS NEW N20935206 112138 4273568 SH SOLE 4273568 0 0
COEUR D ALENE MINES CORP IDA COM NEW 192108504 82656 3855232 SH SOLE 3855232 0 0
COMMERCIAL METALS CO COM 201723103 2274 239070 SH SOLE 239070 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 310 6684 SH SOLE 6684 0 0
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 7803 982683 SH SOLE 982683 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 387103 10257098 SH SOLE 10257098 0 0
CONCHO RES INC COM 20605P101 87494 1229884 SH SOLE 1220784 0 9100
CONOCOPHILLIPS COM 20825C104 2642 41722 SH SOLE 41722 0 0
CONSOL ENERGY INC COM 20854P109 151201 4456261 SH SOLE 4429061 0 27200
CONSTELLATION ENERGY GROUP I COM 210371100 6221 163452 SH SOLE 163452 0 0
CONTINENTAL RESOURCES INC COM 212015101 83 1707 SH SOLE 1707 0 0
COPA HOLDINGS SA CL A P31076105 3350 50200 SH SOLE 50200 0 0
COPA HOLDINGS SA CL A P31076105 3076 50200 SH SOLE 50200 0 0
CORN PRODS INTL INC COM 219023108 54297 1383713 SH SOLE 1383713 0 0
COSAN LTD SHS A G25343107 32512 3433153 SH SOLE 3433153 0 0
COVANTA HLDG CORP COM 22282E102 4365 287358 SH SOLE 287358 0 0
CREE INC COM 225447101 4796 184600 SH SOLE 184600 0 0
CRESUD S A C I F Y A SPONSORED ADR 226406106 9757 901788 SH SOLE 901788 0 0
CTC MEDIA INC COM 12642X106 5543 622763 SH SOLE 622763 0 0
CUMMINS INC COM 231021106 33268 407400 SH SOLE 404500 0 2900
DAQO NEW ENERGY CORP SPONSORED ADR 23703Q104 63 17973 SH SOLE 17973 0 0
DARLING INTL INC COM 237266101 27464 2181410 SH SOLE 2181410 0 0
DEERE & CO COM 244199105 332942 5156299 SH SOLE 5156299 0 0
DENBURY RES INC COM NEW 247916208 141 12227 SH SOLE 12227 0 0
DESARROLLADORA HOMEX S A DE SPONSORED ADR 25030W100 48 3577 SH SOLE 3577 0 0
DEVON ENERGY CORP NEW COM 25179M103 702 12656 SH SOLE 12656 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 117467 2145915 SH SOLE 2130015 0 15900
DOMTAR CORP COM NEW 257559203 258 3791 SH SOLE 3791 0 0
DRDGOLD LIMITED SPON ADR NEW 26152H301 3274 644404 SH SOLE 644404 0 0
DRIL-QUIP INC COM 262037104 90852 1685244 SH SOLE 1672744 0 12500
ECOPETROL S A SPONSORED ADS 279158109 141 3506 SH SOLE 3506 0 0
EL PASO CORP COM 28336L109 409 23400 SH SOLE 23400 0 0
ELDORADO GOLD CORP NEW COM 284902103 429171 25039159 SH SOLE 24656609 0 382550
ENBRIDGE INC COM 29250N105 753 23583 SH SOLE 23583 0 0
ENCANA CORP COM 292505104 430 22377 SH SOLE 22377 0 0
ENDEAVOUR SILVER CORP COM 29258Y103 40105 4466022 SH SOLE 4466022 0 0
ENERGYSOLUTIONS INC COM 292756202 4367 1237141 SH SOLE 1237141 0 0
ENERSYS COM 29275Y102 2095 104637 SH SOLE 104637 0 0
ENSCO PLC SPONSORED ADR 29358Q109 59161 1463298 SH SOLE 1452498 0 10800
EOG RES INC COM 26875P101 580 8165 SH SOLE 8165 0 0
EQT CORP COM 26884L109 243 4545 SH SOLE 4545 0 0
EXELON CORP COM 30161N101 9372 219941 SH SOLE 219941 0 0
EXETER RES CORP COM 301835104 15957 4395945 SH SOLE 4395945 0 0
EXXON MOBIL CORP COM 30231G102 10729 147715 SH SOLE 147715 0 0
FIRST SOLAR INC COM 336433107 7270 115012 SH SOLE 115012 0 0
FMC TECHNOLOGIES INC COM 30249U101 275 7303 SH SOLE 7303 0 0
FOCUS MEDIA HLDG LTD SPONSORED ADR 34415V109 2433 144500 SH SOLE 144500 0 0
FOSTER L B CO COM 350060109 473 21267 SH SOLE 21267 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 969 31834 SH SOLE 31834 0 0
FREIGHTCAR AMER INC COM 357023100 994 68993 SH SOLE 68993 0 0
FUEL TECH INC COM 359523107 459 78824 SH SOLE 78824 0 0
GAFISA S A SPONS ADR 362607301 17664 3061320 SH SOLE 3061320 0 0
GENERAL MARITIME CORP NEW SHS Y2693R101 9228 6835600 SH SOLE 6784600 0 51000
GENERAL MOLY INC COM 370373102 3719 1282490 SH SOLE 1282490 0 0
GERDAU S A SPONSORED ADR 373737105 7403 1038301 SH SOLE 1038301 0 0
GIBRALTAR INDS INC COM 374689107 511 62940 SH SOLE 62940 0 0
GLOBAL CASH ACCESS HLDGS INC COM 378967103 170 66220 SH SOLE 66220 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 421500 27513086 SH SOLE 27513086 0 0
GOLD RESOURCE CORP COM 38068T105 184 11038 SH SOLE 11038 0 0
GOLDCORP INC NEW COM 380956409 1412150 30941070 SH SOLE 30598441 0 342629
GOLDEN STAR RES LTD CDA COM 38119T104 46386 24938685 SH SOLE 24938685 0 0
GPO AEROPORTUARIO DEL PAC SA SPON ADR B 400506101 326 9819 SH SOLE 9819 0 0
GRAN TIERRA ENERGY INC COM 38500T101 345 72373 SH SOLE 72373 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 39 11389 SH SOLE 11389 0 0
GREAT BASIN GOLD LTD COM 390124105 44572 26373735 SH SOLE 25704835 0 668900
GREEN PLAINS RENEWABLE ENERG COM 393222104 9356 1002800 SH SOLE 996600 0 6200
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 231 4656 SH SOLE 4656 0 0
GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 399909100 51 6136 SH SOLE 6136 0 0
GRUPO SIMEC S A B DE C V ADR 400491106 2101 343264 SH SOLE 343264 0 0
GT ADVANCED TECHNOLOGIES INC COM 36191U106 1003 142928 SH SOLE 142928 0 0
HALLIBURTON CO COM 406216101 178986 5864543 SH SOLE 5823343 0 41200
HANWHA SOLARONE CO LTD SPONSORED ADR 41135V103 212 68150 SH SOLE 68150 0 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 216910 18491924 SH SOLE 18491924 0 0
HEADWATERS INC COM 42210P102 506 351401 SH SOLE 351401 0 0
HECLA MNG CO COM 422704106 70682 13187012 SH SOLE 13078012 0 109000
HELMERICH & PAYNE INC COM 423452101 132 3247 SH SOLE 3247 0 0
HESS CORP COM 42809H107 482 9184 SH SOLE 9184 0 0
HOLLYFRONTIER CORP COM 436106108 143583 5476083 SH SOLE 5436883 0 39200
HOME INNS & HOTELS MGMT INC SPON ADR 43713W107 1894 73500 SH SOLE 73500 0 0
IAMGOLD CORP COM 450913108 601095 30389045 SH SOLE 29745257 0 643788
IMPERIAL OIL LTD COM NEW 453038408 279 7730 SH SOLE 7730 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 4442 305678 SH SOLE 305678 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 2544 136642 SH SOLE 136642 0 0
INTL PAPER CO COM 460146103 960 41281 SH SOLE 41281 0 0
INTREPID POTASH INC COM 46121Y102 33345 1340769 SH SOLE 1340769 0 0
ISHARES TR MSCI PERU CAP 464289842 302 8625 SH SOLE 8625 0 0
ISLE OF CAPRI CASINOS INC COM 464592104 100 20745 SH SOLE 20745 0 0
ITRON INC COM 465741106 2485 84248 SH SOLE 84248 0 0
JA SOLAR HOLDINGS CO LTD SPON ADR 466090107 317 177925 SH SOLE 177925 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 26129 809200 SH SOLE 803200 0 6000
JAGUAR MNG INC COM 47009M103 24684 5251834 SH SOLE 5251834 0 0
JAMES RIVER COAL CO COM NEW 470355207 1309 205561 SH SOLE 205561 0 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100 82 16928 SH SOLE 16928 0 0
JOY GLOBAL INC COM 481165108 26946 431972 SH SOLE 431972 0 0
KEY ENERGY SVCS INC COM 492914106 23544 2480900 SH SOLE 2462500 0 18400
KINROSS GOLD CORP COM NO PAR 496902404 691358 46776584 SH SOLE 46003315 0 773268
LAS VEGAS SANDS CORP COM 517834107 15767 411248 SH SOLE 411248 0 0
LAYNE CHRISTENSEN CO COM 521050104 974 42155 SH SOLE 42155 0 0
LDK SOLAR CO LTD SPONSORED ADR 50183L107 314 100791 SH SOLE 100791 0 0
LINDSAY CORP COM 535555106 12195 226674 SH SOLE 226674 0 0
LOUISIANA PAC CORP COM 546347105 39175 7681400 SH SOLE 7627700 0 53700
MAG SILVER CORP COM 55903Q104 80 10234 SH SOLE 10234 0 0
MARATHON OIL CORP COM 565849106 468 21698 SH SOLE 21698 0 0
MARKET VECTORS ETF TR CHINA A SHS ETF 57060U597 3366 100000 SH SOLE 100000 0 0
MARKET VECTORS ETF TR EM LC CURR DBT 57060U522 641 26060 SH SOLE 26060 0 0
MARKET VECTORS ETF TR INDIA SMALL CP 57060U563 263 22140 SH SOLE 22140 0 0
MEADWESTVACO CORP COM 583334107 396 16112 SH SOLE 16112 0 0
MECHEL OAO SPONSORED ADR 583840103 20882 2049306 SH SOLE 2049306 0 0
MELCO CROWN ENTMT LTD ADR 585464100 2584 310999 SH SOLE 310999 0 0
MEMC ELECTR MATLS INC COM 552715104 3662 698814 SH SOLE 698814 0 0
MESABI TR CTF BEN INT 590672101 19 900 SH SOLE 900 0 0
METALICO INC COM 591176102 424 108826 SH SOLE 108826 0 0
MGM RESORTS INTERNATIONAL COM 552953101 3393 365279 SH SOLE 365279 0 0
MICROMET INC COM 59509C105 20 4095 SH SOLE 4095 0 0
MINEFINDERS LTD COM 602900102 108666 7806463 SH SOLE 7806463 0 0
MOBILE TELESYSTEMS OJSC SPONSORED ADR 607409109 44025 3579256 SH SOLE 3579256 0 0
MOLYCORP INC DEL COM 608753109 13237 402705 SH SOLE 402705 0 0
MONSANTO CO NEW COM 61166W101 379172 6315315 SH SOLE 6315315 0 0
MOSAIC CO NEW COM 61945C103 262835 5367271 SH SOLE 5358471 0 8800
MURPHY OIL CORP COM 626717102 260 5886 SH SOLE 5886 0 0
NABORS INDUSTRIES LTD SHS G6359F103 107 8741 SH SOLE 8741 0 0
NALCO HOLDING COMPANY COM 62985Q101 1505 43016 SH SOLE 43016 0 0
NATIONAL OILWELL VARCO INC COM 637071101 58292 1138073 SH SOLE 1129773 0 8300
NEVSUN RES LTD COM 64156L101 42778 8504669 SH SOLE 8504669 0 0
NEW GOLD INC CDA COM 644535106 259252 25194522 SH SOLE 24760142 0 434380
NEWFIELD EXPL CO COM 651290108 137398 3461788 SH SOLE 3436138 0 25650
NEWMONT MINING CORP COM 651639106 1353749 21505147 SH SOLE 21314847 0 190300
NEWPARK RES INC COM PAR $.01NEW 651718504 867 142289 SH SOLE 142289 0 0
NEXEN INC COM 65334H102 248 16006 SH SOLE 16006 0 0
NOBLE CORPORATION BAAR NAMEN -AKT H5833N103 317 8053 SH SOLE 8053 0 0
NOBLE CORPORATION BAAR NAMEN -AKT H5833N103 66303 2259040 SH SOLE 2242340 0 16700
NOBLE ENERGY INC COM 655044105 93974 1327310 SH SOLE 1317560 0 9750
NORTHGATE MINERALS CORP COM 666416102 93436 28313997 SH SOLE 28313997 0 0
NUCOR CORP COM 670346105 7235 228658 SH SOLE 228658 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 162740 2276088 SH SOLE 2259388 0 16700
OLYMPIC STEEL INC COM 68162K106 382 22555 SH SOLE 22555 0 0
ORIENTAL FINL GROUP INC COM 68618W100 99 10208 SH SOLE 10208 0 0
ORMAT TECHNOLOGIES INC COM 686688102 34 2139 SH SOLE 2139 0 0
P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106 34808 1052565 SH SOLE 1052565 0 0
PACKAGING CORP AMER COM 695156109 219 9412 SH SOLE 9412 0 0
PAN AMERICAN SILVER CORP COM 697900108 157539 5884890 SH SOLE 5779390 0 105500
PARAMOUNT GOLD & SILVER CORP COM 69924P102 11371 4818097 SH SOLE 4818097 0 0
PATRIOT COAL CORP COM 70336T104 4462 527367 SH SOLE 527367 0 0
PEABODY ENERGY CORP COM 704549104 78634 2320969 SH SOLE 2310669 0 10300
PENN NATL GAMING INC COM 707569109 2284 68610 SH SOLE 68610 0 0
PERMA-FIX ENVIRONMENTAL SVCS COM 714157104 480 400289 SH SOLE 400289 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 48176 2145918 SH SOLE 2130918 0 15000
PILGRIMS PRIDE CORP NEW COM 72147K108 62 14413 SH SOLE 14413 0 0
PINNACLE ENTMT INC COM 723456109 577 63540 SH SOLE 63540 0 0
PIONEER NAT RES CO COM 723787107 117709 1789707 SH SOLE 1777207 0 12500
PLAINS EXPL& PRODTN CO COM 726505100 97 4283 SH SOLE 4283 0 0
POSCO SPONSORED ADR 693483109 11990 157743 SH SOLE 157743 0 0
POTASH CORP SASK INC COM 73755L107 449650 10403749 SH SOLE 10384249 0 19500
POWER ONE INC NEW COM 73930R102 333 73921 SH SOLE 73921 0 0
PROGRESSIVE WASTE SOLUTIONS COM 74339G101 921 44772 SH SOLE 44772 0 0
QEP RES INC COM 74733V100 50867 1879073 SH SOLE 1865173 0 13900
RANDGOLD RES LTD ADR 752344309 604017 6245003 SH SOLE 6120403 0 124600
RANGE RES CORP COM 75281A109 286 4886 SH SOLE 4886 0 0
RARE ELEMENT RES LTD COM 75381M102 4075 802221 SH SOLE 802221 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 6716 197464 SH SOLE 197464 0 0
RENESOLA LTD SPONS ADS 75971T103 148 85770 SH SOLE 85770 0 0
RENTECH INC COM 760112102 413 529117 SH SOLE 529117 0 0
REPUBLIC SVCS INC COM 760759100 2249 80141 SH SOLE 80141 0 0
RIO TINTO PLC SPONSORED ADR 767204100 18180 412421 SH SOLE 412421 0 0
ROBBINS & MYERS INC COM 770196103 150 4318 SH SOLE 4318 0 0
ROCK-TENN CO CL A 772739207 327 6727 SH SOLE 6727 0 0
ROYAL GOLD INC COM 780287108 182229 2844669 SH SOLE 2795369 0 49300
RTI INTL METALS INC COM 74973W107 13340 572038 SH SOLE 572038 0 0
SCHLUMBERGER LTD COM 806857108 201338 3370795 SH SOLE 3346095 0 24700
SCHNITZER STL INDS CL A 806882106 2132 57933 SH SOLE 57933 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 423 59438 SH SOLE 59438 0 0
SEABOARD CORP COM 811543107 110 61 SH SOLE 61 0 0
SEABRIDGE GOLD INC COM 811916105 40951 1821659 SH SOLE 1821659 0 0
SHAW GROUP INC COM 820280105 966 44420 SH SOLE 44420 0 0
SHUFFLE MASTER INC COM 825549108 466 55459 SH SOLE 55459 0 0
SILVER STD RES INC COM 82823L106 63751 3474185 SH SOLE 3474185 0 0
SILVER WHEATON CORP COM 828336107 417295 14169607 SH SOLE 13994607 0 175000
SILVERCORP METALS INC COM 82835P103 30713 3882750 SH SOLE 3763750 0 119000
SMITHFIELD FOODS INC COM 832248108 58395 2994617 SH SOLE 2994617 0 0
SOUTHERN COPPER CORP COM 84265V105 142 5674 SH SOLE 5674 0 0
SOUTHWESTERN ENERGY CO COM 845467109 352 10575 SH SOLE 10575 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 152503 964840 SH SOLE 957740 0 7100
SPECTRA ENERGY CORP COM 847560109 485 19752 SH SOLE 19752 0 0
STEEL DYNAMICS INC COM 858119100 33489 3375877 SH SOLE 3354177 0 21700
STERICYCLE INC COM 858912108 2214 27424 SH SOLE 27424 0 0
STERLITE INDS INDIA LTD ADS 859737207 29 3109 SH SOLE 3109 0 0
SUNCOR ENERGY INC NEW COM 867224107 1217 47828 SH SOLE 47828 0 0
SUNPOWER CORP COM CL A 867652109 866 107079 SH SOLE 107079 0 0
SUNTECH PWR HLDGS CO LTD ADR 86800C104 1101 476719 SH SOLE 476719 0 0
SUPERIOR INDS INTL INC COM 868168105 86 5592 SH SOLE 5592 0 0
TALISMAN ENERGY INC COM 87425E103 382 31135 SH SOLE 31135 0 0
TAM SA SP ADR REP PFD 87484D103 16606 1065832 SH SOLE 1065832 0 0
TANZANIAN ROYALTY EXPL CORP COM 87600U104 15387 4286008 SH SOLE 4286008 0 0
TECK RESOURCES LTD CL B 878742204 46516 1593574 SH SOLE 1581874 0 11700
TEMPLE INLAND INC COM 879868107 322 10264 SH SOLE 10264 0 0
TENARIS S A SPONSORED ADR 88031M109 183 7177 SH SOLE 7177 0 0
TEREX CORP NEW COM 880779103 21156 2062000 SH SOLE 2046700 0 15300
TERNIUM SA SPON ADR 880890108 7094 340588 SH SOLE 340588 0 0
TESLA MTRS INC COM 88160R101 2675 109669 SH SOLE 109669 0 0
TETRA TECH INC NEW COM 88162G103 914 48780 SH SOLE 48780 0 0
TIMKEN CO COM 887389104 7120 216928 SH SOLE 216928 0 0
TITANIUM METALS CORP COM NEW 888339207 17065 1139185 SH SOLE 1139185 0 0
TRACTOR SUPPLY CO COM 892356106 909 14543 SH SOLE 14543 0 0
TRANSCANADA CORP COM 89353D107 865 21363 SH SOLE 21363 0 0
TRANSOCEAN LTD REG SHS H8817H100 659 10206 SH SOLE 10206 0 0
TRANSOCEAN LTD REG SHS H8817H100 464 9722 SH SOLE 9722 0 0
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