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
ABERCROMBIE & FITCH CO CL A 002896207 3,741 214,606 SH   SOLE   214,606 0 0
ALCOA CORP COM 013872106 29,435 546,414 SH   SOLE   546,414 0 0
APPLE INC COM 037833100 1,084 6,403 SH   SOLE   6,403 0 0
B2GOLD CORP COM 11777Q209 18,084 5,838,589 SH   SOLE   5,838,589 0 0
BELMOND LTD CL A G1154H107 11,739 958,302 SH   SOLE   958,302 0 0
BRUNSWICK CORP COM 117043109 50,358 911,944 SH   SOLE   911,944 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 21,577 990,223 SH   SOLE   990,223 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 53,671 808,657 SH   SOLE   808,657 0 0
CATERPILLAR INC DEL COM 149123101 158,100 1,003,300 SH   SOLE   1,003,300 0 0
CBS CORP NEW CL B 124857202 6,765 114,655 SH   SOLE   114,655 0 0
CENTURY ALUM CO COM 156431108 10,802 550,000 SH   SOLE   550,000 0 0
CF INDS HLDGS INC COM 125269100 1,058 24,869 SH   SOLE   24,869 0 0
CONSTELLATION BRANDS INC CL A 21036P108 4,119 18,019 SH   SOLE   18,019 0 0
COPA HOLDINGS SA CL A P31076105 1,662 12,400 SH   SOLE   12,400 0 0
D R HORTON INC COM 23331A109 64,703 1,266,947 SH   SOLE   1,266,947 0 0
DEERE & CO COM 244199105 50,756 324,301 SH   SOLE   324,301 0 0
DOWDUPONT INC COM 26078J100 52,930 743,189 SH   SOLE   743,189 0 0
EMERSON ELEC CO COM 291011104 9,870 141,624 SH   SOLE   141,624 0 0
EURONAV NV ANTWERPEN SHS B38564108 687 74,301 SH   SOLE   74,301 0 0
FACEBOOK INC CL A 30303M102 9,250 52,420 SH   SOLE   52,420 0 0
FEDEX CORP COM 31428X106 66,480 266,410 SH   SOLE   266,410 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 2,960 100,000 SH   SOLE   100,000 0 0
HALLIBURTON CO COM 406216101 7,331 150,000 SH   SOLE   150,000 0 0
HARLEY DAVIDSON INC COM 412822108 53,591 1,053,292 SH   SOLE   1,053,292 0 0
HESS CORP COM 42809H107 108,965 2,295,452 SH   SOLE   2,295,452 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 34,463 327,530 SH   SOLE   327,530 0 0
KENNAMETAL INC COM 489170100 16,537 341,594 SH   SOLE   341,594 0 0
KNIGHT SWIFT TRANSN HLDGS IN CL A 499049104 60,936 1,393,771 SH   SOLE   1,393,771 0 0
LAREDO PETROLEUM INC COM 516806106 15,612 1,471,464 SH   SOLE   1,471,464 0 0
LAS VEGAS SANDS CORP COM 517834107 21,056 303,012 SH   SOLE   303,012 0 0
MARINEMAX INC COM 567908108 40,457 2,140,556 SH   SOLE   2,140,556 0 0
MARRIOTT INTL INC NEW CL A 571903202 1,596 11,761 SH   SOLE   11,761 0 0
MICRON TECHNOLOGY INC COM 595112103 15,803 384,317 SH   SOLE   384,317 0 0
MICROSOFT CORP COM 594918104 3,701 43,269 SH   SOLE   43,269 0 0
MOSAIC CO NEW COM 61945C103 17,184 669,678 SH   SOLE   669,678 0 0
NAVISTAR INTL CORP NEW COM 63934E108 48,957 1,141,724 SH   SOLE   1,141,724 0 0
NEXA RES S A COM L67359106 1,374 70,088 SH   SOLE   70,088 0 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 9,337 175,352 SH   SOLE   175,352 0 0
NVR INC COM 62944T105 169,833 48,410 SH   SOLE   48,410 0 0
OLIN CORP COM PAR $1 680665205 32,764 920,841 SH   SOLE   920,841 0 0
PRICELINE GRP INC COM NEW 741503403 1,159 667 SH   SOLE   667 0 0
RIO TINTO PLC SPONSORED ADR 767204100 113,231 2,139,251 SH   SOLE   2,139,251 0 0
RIO TINTO PLC SPONSORED ADR 767204100 15,664 295,933 SH   OTR 1 295,933 0 0
RPC INC COM 749660106 3,830 150,000 SH   SOLE   150,000 0 0
SEAWORLD ENTMT INC COM 81282V100 1,862 137,214 SH   SOLE   137,214 0 0
SIMPLY GOOD FOODS CO COM 82900L102 4,039 283,249 SH   SOLE   283,249 0 0
SMITH A O COM 831865209 1,209 19,725 SH   SOLE   19,725 0 0
SOUTHWEST AIRLS CO COM 844741108 22,966 350,898 SH   SOLE   350,898 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 608,441 2,280,000 SH Put SOLE   2,280,000 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 28,076 321,793 SH   SOLE   321,793 0 0
STANLEY BLACK & DECKER INC COM 854502101 17,303 101,970 SH   SOLE   101,970 0 0
STAR BULK CARRIERS CORP SHS PAR Y8162K204 46,103 4,094,420 SH   SOLE   4,094,420 0 0
SUMMIT MATLS INC CL A 86614U100 38,659 1,229,598 SH   SOLE   1,229,598 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 70,964 646,418 SH   SOLE   646,418 0 0
TASEKO MINES LTD COM 876511106 7,804 3,349,191 SH   SOLE   3,349,191 0 0
TECK RESOURCES LTD CL B 878742204 24,600 940,000 SH   OTR 1 940,000 0 0
TECK RESOURCES LTD CL B 878742204 333,967 12,761,439 SH   SOLE   12,761,439 0 0
TEXTRON INC COM 883203101 9,387 165,883 SH   SOLE   165,883 0 0
TRINITY INDS INC COM 896522109 44,878 1,198,020 SH   SOLE   1,198,020 0 0
UNIFI INC COM NEW 904677200 45,381 1,265,149 SH   SOLE   1,265,149 0 0
UNITED STATES STL CORP NEW COM 912909108 3,519 100,000 SH   SOLE   100,000 0 0
VALE S A ADR 91912E105 16,848 1,377,568 SH   SOLE   1,377,568 0 0
VULCAN MATLS CO COM 929160109 9,368 72,974 SH   SOLE   72,974 0 0
WABTEC CORP COM 929740108 11,637 142,907 SH   SOLE   142,907 0 0
WARRIOR MET COAL INC COM 93627C101 50,430 2,005,172 SH   SOLE   2,005,172 0 0