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
Baidu Inc ADR 056752108 1,308 7,000 SH   SOLE None 7,000 0 0
Bank of New York Mellon Corp/The Common Stock 064058100 33,515 894,200 SH   SOLE None 894,200 0 0
Barrick Gold Corp Common Stock 067901108 10,543 576,100 SH   SOLE None 576,100 0 0
BB&T Corp Common Stock 054937107 9,637 244,400 SH   SOLE None 244,400 0 0
Capital One Financial Corp Common Stock 14040H105 27,514 333,100 SH   SOLE None 333,100 0 0
Comerica Inc Common Stock 200340107 21,298 424,600 SH   SOLE None 424,600 0 0
CVS Caremark Corp Common Stock 126650100 226 3,000 SH   SOLE None 3,000 0 0
First Solar Inc Common Stock 336433107 853 12,000 SH   SOLE None 12,000 0 0
Golden Star Resources Ltd Common Stock 38119T104 378 641,400 SH   SOLE None 641,400 0 0
Goldman Sachs Group Inc/The Common Stock 38141G104 27,460 164,000 SH   SOLE None 164,000 0 0
Google Inc Common Stock 38259P706 14,612 25,400 SH   SOLE None 25,400 0 0
Google Inc Common Stock 38259P508 14,851 25,400 SH   SOLE None 25,400 0 0
Harmony Gold Mining Co Ltd ADR 413216300 9,042 3,044,300 SH   SOLE None 3,044,300 0 0
HDFC Bank Ltd ADR 40415F101 796 17,000 SH   SOLE None 17,000 0 0
IAMGOLD Corp Common Stock 450913108 10,072 2,444,700 SH   SOLE None 2,444,700 0 0
ICICI Bank Ltd ADR 45104G104 848 17,000 SH   SOLE None 17,000 0 0
Market Vectors Junior Gold Miners ETF ETP 57061R544 9,466 224,000 SH   SOLE None 224,000 0 0
Newmont Mining Corp Common Stock 651639106 10,334 406,200 SH   SOLE None 406,200 0 0
Taiwan Semiconductor Manufacturing Co Ltd ADR 874039100 802 37,500 SH   SOLE None 37,500 0 0
TJX Cos Inc/The Common Stock 872540109 20,420 384,200 SH   SOLE None 384,200 0 0
US Bancorp/MN Common Stock 902973304 15,127 349,200 SH   SOLE None 349,200 0 0
Vipshop Holdings Ltd ADR 92763W103 50,795 270,563 SH   SOLE None 270,563 0 0
Walt Disney Co/The Common Stock 254687106 240 2,800 SH   SOLE None 2,800 0 0
Wells Fargo & Co Common Stock 949746101 30,332 577,100 SH   SOLE None 577,100 0 0
Yahoo! Inc Common Stock 984332106 1,756 50,000 SH   SOLE None 50,000 0 0
YY Inc ADR 98426T106 755 10,000 SH   SOLE None 10,000 0 0