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
3M CO COM 88579Y101 195,761 1,357,845 SH   OTR 1 0 1,357,845 0
3M CO COM 88579Y101 6,646 46,101 SH   SOLE   46,101 0 0
3M CO COM 88579Y101 4,439 30,791 SH   OTR 1 0 30,791 0
ALCOA INC COM 013817101 361,046 24,101,860 SH   OTR 1 0 24,101,860 0
ALCOA INC COM 013817101 12,258 818,296 SH   SOLE   818,296 0 0
ALCOA INC COM 013817101 8,187 546,557 SH   OTR 1 0 546,557 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 122,675 2,667,417 SH   OTR 1 0 2,667,417 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 4,165 90,563 SH   SOLE   90,563 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 2,782 60,488 SH   OTR 1 0 60,488 0
ALPHA NATURAL RESOURCES INC COM 02076X102 41,569 10,939,170 SH   OTR 1 0 10,939,170 0
ALPHA NATURAL RESOURCES INC COM 02076X102 1,411 371,402 SH   SOLE   371,402 0 0
ALPHA NATURAL RESOURCES INC COM 02076X102 943 248,067 SH   OTR 1 0 248,067 0
BAKER HUGHES INC COM 057224107 266,589 3,568,318 SH   OTR 1 0 3,568,318 0
BAKER HUGHES INC COM 057224107 9,051 121,150 SH   SOLE   121,150 0 0
BAKER HUGHES INC COM 057224107 6,045 80,918 SH   OTR 1 0 80,918 0
BEACON ROOFING SUPPLY INC COM 073685109 113,136 3,412,861 SH   OTR 1 0 3,412,861 0
BEACON ROOFING SUPPLY INC COM 073685109 3,841 115,872 SH   SOLE   115,872 0 0
BEACON ROOFING SUPPLY INC COM 073685109 2,566 77,393 SH   OTR 1 0 77,393 0
BHP BILLITON LTD SPONSORED ADR 088606108 267,598 3,877,110 SH   OTR 1 0 3,877,110 0
BHP BILLITON LTD SPONSORED ADR 088606108 9,085 131,634 SH   SOLE   131,634 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 6,068 87,921 SH   OTR 1 0 87,921 0
CARPENTER TECHNOLOGY CORP COM 144285103 106,582 1,663,006 SH   OTR 1 0 1,663,006 0
CARPENTER TECHNOLOGY CORP COM 144285103 3,571 55,722 SH   SOLE   55,722 0 0
CARPENTER TECHNOLOGY CORP COM 144285103 2,669 41,649 SH   OTR 1 0 41,649 0
CHESAPEAKE ENERGY CORP COM 165167107 218,352 7,409,289 SH   OTR 1 0 7,409,289 0
CHESAPEAKE ENERGY CORP COM 165167107 7,413 251,557 SH   SOLE   251,557 0 0
CHESAPEAKE ENERGY CORP COM 165167107 4,952 168,020 SH   OTR 1 0 168,020 0
CITIGROUP INC COM NEW 172967424 199,006 4,202,869 SH   OTR 1 0 4,202,869 0
CITIGROUP INC COM NEW 172967424 6,757 142,694 SH   SOLE   142,694 0 0
CITIGROUP INC COM NEW 172967424 4,513 95,308 SH   OTR 1 0 95,308 0
CME GROUP INC COM 12572Q105 170,117 2,390,287 SH   OTR 1 0 2,390,287 0
CME GROUP INC COM 12572Q105 5,776 81,154 SH   SOLE   81,154 0 0
CME GROUP INC COM 12572Q105 3,858 54,204 SH   OTR 1 0 54,204 0
COSTCO WHSL CORP NEW COM 22160K105 209,648 1,819,547 SH   OTR 1 0 1,819,547 0
COSTCO WHSL CORP NEW COM 22160K105 7,130 61,878 SH   SOLE   61,878 0 0
COSTCO WHSL CORP NEW COM 22160K105 4,754 41,261 SH   OTR 1 0 41,261 0
CUMMINS INC COM 231021106 208,995 1,348,008 SH   OTR 1 0 1,348,008 0
CUMMINS INC COM 231021106 7,096 45,767 SH   SOLE   45,767 0 0
CUMMINS INC COM 231021106 4,739 30,568 SH   OTR 1 0 30,568 0
D R HORTON INC COM 23331A109 218,554 8,812,670 SH   OTR 1 0 8,812,670 0
D R HORTON INC COM 23331A109 7,420 299,204 SH   SOLE   299,204 0 0
D R HORTON INC COM 23331A109 4,956 199,844 SH   OTR 1 0 199,844 0
DEERE & CO COM 244199105 188,265 2,078,902 SH   OTR 1 0 2,078,902 0
DEERE & CO COM 244199105 6,392 70,582 SH   SOLE   70,582 0 0
DEERE & CO COM 244199105 4,269 47,143 SH   OTR 1 0 47,143 0
DEVON ENERGY CORP NEW COM 25179M103 252,252 3,159,471 SH   OTR 1 0 3,159,471 0
DEVON ENERGY CORP NEW COM 25179M103 8,564 107,269 SH   SOLE   107,269 0 0
DEVON ENERGY CORP NEW COM 25179M103 5,720 71,647 SH   OTR 1 0 71,647 0
DISCOVER FINL SVCS COM 254709108 216,657 3,465,406 SH   OTR 1 0 3,465,406 0
DISCOVER FINL SVCS COM 254709108 7,356 117,656 SH   SOLE   117,656 0 0
DISCOVER FINL SVCS COM 254709108 4,913 78,584 SH   OTR 1 0 78,584 0
EAGLE MATERIALS INC COM 26969P108 243,338 2,554,727 SH   OTR 1 0 2,554,727 0
EAGLE MATERIALS INC COM 26969P108 8,262 86,737 SH   SOLE   86,737 0 0
EAGLE MATERIALS INC COM 26969P108 5,518 57,933 SH   OTR 1 0 57,933 0
EMERSON ELEC CO COM 291011104 210,063 2,407,046 SH   OTR 1 0 2,407,046 0
EMERSON ELEC CO COM 291011104 7,132 81,723 SH   SOLE   81,723 0 0
EMERSON ELEC CO COM 291011104 4,764 54,584 SH   OTR 1 0 54,584 0
EOG RES INC COM 26875P101 249,643 2,121,551 SH   OTR 1 0 2,121,551 0
EOG RES INC COM 26875P101 8,476 72,030 SH   SOLE   72,030 0 0
EOG RES INC COM 26875P101 5,661 48,110 SH   OTR 1 0 48,110 0
FACEBOOK INC CL A 30303M102 328,471 4,843,985 SH   OTR 1 0 4,843,985 0
FACEBOOK INC CL A 30303M102 11,166 164,672 SH   SOLE   164,672 0 0
FACEBOOK INC CL A 30303M102 7,449 109,846 SH   OTR 1 0 109,846 0
FIREEYE INC COM 31816Q101 143,704 3,512,680 SH   OTR 1 0 3,512,680 0
FIREEYE INC COM 31816Q101 4,879 119,261 SH   SOLE   119,261 0 0
FIREEYE INC COM 31816Q101 3,259 79,656 SH   OTR 1 0 79,656 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 215,708 5,804,856 SH   OTR 1 0 5,804,856 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 7,324 197,084 SH   SOLE   197,084 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 4,892 131,636 SH   OTR 1 0 131,636 0
GENERAL ELECTRIC CO COM 369604103 180,332 6,838,535 SH   OTR 1 0 6,838,535 0
GENERAL ELECTRIC CO COM 369604103 6,123 232,179 SH   SOLE   232,179 0 0
GENERAL ELECTRIC CO COM 369604103 4,089 155,077 SH   OTR 1 0 155,077 0
HOME DEPOT INC COM 437076102 207,635 2,547,039 SH   OTR 1 0 2,547,039 0
HOME DEPOT INC COM 437076102 7,050 86,476 SH   SOLE   86,476 0 0
HOME DEPOT INC COM 437076102 4,709 57,759 SH   OTR 1 0 57,759 0
INTEL COM 458140100 228,614 7,365,138 SH   OTR 1 0 7,365,138 0
INTEL COM 458140100 7,762 250,058 SH   SOLE   250,058 0 0
INTEL COM 458140100 5,184 167,019 SH   OTR 1 0 167,019 0
IRELAND BK SPNSRD ADR NEW 46267Q202 29,830 2,136,786 SH   OTR 1 0 2,136,786 0
ISHARES RUSSELL 2000 ETF 464287655 16,888 75,731 SH Call OTR 1 0 75,731 0
ISHARES RUSSELL 2000 ETF 464287655 572 2,566 SH Call SOLE   2,566 0 0
ISHARES RUSSELL 2000 ETF 464287655 375 1,703 SH Call OTR 1 0 1,703 0
ISHARES MSCI JAPAN ETF 464286848 762,689 63,346,250 SH   OTR 1 0 63,346,250 0
ISHARES MSCI JAPAN ETF 464286848 25,719 2,136,133 SH   SOLE   2,136,133 0 0
ISHARES MSCI JAPAN ETF 464286848 16,994 1,411,469 SH   OTR 1 0 1,411,469 0
ISHARES MSCI MEX CAP ETF 464286822 276,874 4,083,080 SH   OTR 1 0 4,083,080 0
ISHARES MSCI MEX CAP ETF 464286822 9,400 138,627 SH   SOLE   138,627 0 0
ISHARES MSCI MEX CAP ETF 464286822 6,279 92,591 SH   OTR 1 0 92,591 0
ISHARES US HOME CONS ETF 464288752 232,435 9,372,379 SH   OTR 1 0 9,372,379 0
ISHARES US HOME CONS ETF 464288752 7,892 318,207 SH   SOLE   318,207 0 0
ISHARES US HOME CONS ETF 464288752 5,271 212,537 SH   OTR 1 0 212,537 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 253,464 17,348,681 SH   OTR 1 0 17,348,681 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 8,606 589,015 SH   SOLE   589,015 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 5,748 393,415 SH   OTR 1 0 393,415 0
JOY GLOBAL INC COM 481165108 210,630 3,397,250 SH   OTR 1 0 3,397,250 0
JOY GLOBAL INC COM 481165108 7,151 115,342 SH   SOLE   115,342 0 0
JOY GLOBAL INC COM 481165108 4,776 77,039 SH   OTR 1 0 77,039 0
LENNAR CORP CL A 526057104 206,410 4,886,607 SH   OTR 1 0 4,886,607 0
LENNAR CORP CL A 526057104 7,008 165,908 SH   SOLE   165,908 0 0
LENNAR CORP CL A 526057104 4,681 110,813 SH   OTR 1 0 110,813 0
MARKET VECTORS ETF TR AGRIBUS ETF 57060U605 253,724 4,612,334 SH   OTR 1 0 4,612,334 0
MARKET VECTORS ETF TR AGRIBUS ETF 57060U605 8,614 156,596 SH   SOLE   156,596 0 0
MARKET VECTORS ETF TR AGRIBUS ETF 57060U605 5,754 104,593 SH   OTR 1 0 104,593 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 228,758 8,648,701 SH   OTR 1 0 8,648,701 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 7,767 293,637 SH   SOLE   293,637 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 5,188 196,126 SH   OTR 1 0 196,126 0
MOHAWK INDS INC COM 608190104 194,849 1,398,874 SH   OTR 1 0 1,398,874 0
MOHAWK INDS INC COM 608190104 6,615 47,494 SH   SOLE   47,494 0 0
MOHAWK INDS INC COM 608190104 4,419 31,722 SH   OTR 1 0 31,722 0
NUCOR CORP COM 670346105 199,544 4,025,498 SH   OTR 1 0 4,025,498 0
NUCOR CORP COM 670346105 6,775 136,672 SH   SOLE   136,672 0 0
NUCOR CORP COM 670346105 4,525 91,286 SH   OTR 1 0 91,286 0
POTASH CORP SASK INC COM 73755L107 221,259 5,831,807 SH   OTR 1 0 5,831,807 0
POTASH CORP SASK INC COM 73755L107 7,512 197,999 SH   SOLE   197,999 0 0
POTASH CORP SASK INC COM 73755L107 5,017 132,247 SH   OTR 1 0 132,247 0
PRECISION CASTPARTS CORP COM 740189105 179,027 705,858 SH   OTR 1 0 705,858 0
PRECISION CASTPARTS CORP COM 740189105 6,078 23,965 SH   SOLE   23,965 0 0
PRECISION CASTPARTS CORP COM 740189105 4,060 16,006 SH   OTR 1 0 16,006 0
PULTE GROUP INC COM 745867101 197,822 9,735,337 SH   OTR 1 0 9,735,337 0
PULTE GROUP INC COM 745867101 6,716 330,530 SH   SOLE   330,530 0 0
PULTE GROUP INC COM 745867101 4,486 220,768 SH   OTR 1 0 220,768 0
RYLAND GROUP INC COM 783764103 177,582 4,452,901 SH   OTR 1 0 4,452,901 0
RYLAND GROUP INC COM 783764103 6,029 151,183 SH   SOLE   151,183 0 0
RYLAND GROUP INC COM 783764103 4,027 100,978 SH   OTR 1 0 100,978 0
SCHLUMBERGER LTD COM 806857108 306,722 2,594,725 SH   OTR 1 0 2,594,725 0
SCHLUMBERGER LTD COM 806857108 10,414 88,095 SH   SOLE   88,095 0 0
SCHLUMBERGER LTD COM 806857108 6,955 58,840 SH   OTR 1 0 58,840 0
SHERWIN WILLIAMS CO COM 824348106 150,623 726,947 SH   OTR 1 0 726,947 0
SHERWIN WILLIAMS CO COM 824348106 5,114 24,681 SH   SOLE   24,681 0 0
SHERWIN WILLIAMS CO COM 824348106 3,415 16,484 SH   OTR 1 0 16,484 0
SILVER WHEATON CORP COM 828336107 158,422 5,989,476 SH   OTR 1 0 5,989,476 0
SILVER WHEATON CORP COM 828336107 5,403 204,279 SH   SOLE   204,279 0 0
SILVER WHEATON CORP COM 828336107 3,615 136,675 SH   OTR 1 0 136,675 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 327,500 10,000,000 SH   OTR 1 0 10,000,000 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 11,125 339,700 SH   SOLE   339,700 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 7,516 229,500 SH   OTR 1 0 229,500 0
SPLUNK INC COM 848637104 149,966 2,702,084 SH   OTR 1 0 2,702,084 0
SPLUNK INC COM 848637104 5,092 91,740 SH   SOLE   91,740 0 0
SPLUNK INC COM 848637104 3,401 61,275 SH   OTR 1 0 61,275 0
ST JOE CO COM 790148100 192,389 7,471,432 SH   OTR 1 0 7,471,432 0
ST JOE CO COM 790148100 6,607 256,570 SH   SOLE   256,570 0 0
ST JOE CO COM 790148100 4,413 171,368 SH   OTR 1 0 171,368 0
STEEL DYNAMICS INC COM 858119100 185,892 10,169,161 SH   OTR 1 0 10,169,161 0
STEEL DYNAMICS INC COM 858119100 6,311 345,259 SH   SOLE   345,259 0 0
STEEL DYNAMICS INC COM 858119100 4,215 230,605 SH   OTR 1 0 230,605 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 219,559 10,085,395 SH   OTR 1 0 10,085,395 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 7,454 342,415 SH   SOLE   342,415 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 4,979 228,706 SH   OTR 1 0 228,706 0
TECK RESOURCES LTD CL B 878742204 177,821 7,573,287 SH   OTR 1 0 7,573,287 0
TECK RESOURCES LTD CL B 878742204 6,037 257,125 SH   SOLE   257,125 0 0
TECK RESOURCES LTD CL B 878742204 4,032 171,739 SH   OTR 1 0 171,739 0
TOLL BROTHERS INC COM 889478103 197,820 5,345,054 SH   OTR 1 0 5,345,054 0
TOLL BROTHERS INC COM 889478103 6,716 181,473 SH   SOLE   181,473 0 0
TOLL BROTHERS INC COM 889478103 4,486 121,209 SH   OTR 1 0 121,209 0
TRIMBLE NAVIGATION LTD COM 896239100 203,505 5,441,309 SH   OTR 1 0 5,441,309 0
TRIMBLE NAVIGATION LTD COM 896239100 6,909 184,741 SH   SOLE   184,741 0 0
TRIMBLE NAVIGATION LTD COM 896239100 4,615 123,392 SH   OTR 1 0 123,392 0
US BANCORP DEL COM NEW 902973304 206,099 4,730,296 SH   OTR 1 0 4,730,296 0
US BANCORP DEL COM NEW 902973304 6,997 160,601 SH   SOLE   160,601 0 0
US BANCORP DEL COM NEW 902973304 4,674 107,268 SH   OTR 1 0 107,268 0
VALE S A ADR 91912E105 195,368 14,407,699 SH   OTR 1 0 14,407,699 0
VALE S A ADR 91912E105 6,633 489,164 SH   SOLE   489,164 0 0
VALE S A ADR 91912E105 4,430 326,723 SH   OTR 1 0 326,723 0
WALTER ENERGY INC COM 93317Q105 26,185 4,804,521 SH   OTR 1 0 4,804,521 0
WALTER ENERGY INC COM 93317Q105 862 158,097 SH   SOLE   158,097 0 0
WALTER ENERGY INC COM 93317Q105 608 111,609 SH   OTR 1 0 111,609 0
WELLS FARGO & CO NEW COM 949746101 219,861 4,162,458 SH   OTR 1 0 4,162,458 0
WELLS FARGO & CO NEW COM 949746101 7,465 141,322 SH   SOLE   141,322 0 0
WELLS FARGO & CO NEW COM 949746101 4,986 94,392 SH   OTR 1 0 94,392 0