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
Adecoagro Sa Com L00849106 117 12,708 SH   SOLE   12,708 0 0
Agrium Incorporated Com 008916108 596 5,630 SH   SOLE   5,630 0 0
American Tower Corp Com 03027X100 1,165 12,483 SH   SOLE   12,483 0 0
American Water Works Company Inc Com 030420103 236 4,856 SH   SOLE   4,856 0 0
Anadarko Petroleum Corp Com 032511107 1,357 17,383 SH   SOLE   17,383 0 0
Archer Daniels Midland Co Com 039483102 919 19,065 SH   SOLE   19,065 0 0
Companhia de Saneamento Basi Sponsored ADR 20441A102 267 51,569 SH   SOLE   51,569 0 0
Bemis Company Inc Com 081437105 221 4,910 SH   SOLE   4,910 0 0
Boise Cascade Co Com 09739D100 2,561 69,831 SH   SOLE   69,831 0 0
Boulder Brands Inc Com 101405108 78 11,190 SH   SOLE   11,190 0 0
Brf Sa Sponsored ADR 10552T107 527 25,220 SH   SOLE   25,220 0 0
Bunge Limited Com G16962105 981 11,172 SH   SOLE   11,172 0 0
Calavo Growers Inc Com 128246105 325 6,250 SH   SOLE   6,250 0 0
Cf Industries Holdings Inc Com 125269100 1,937 30,135 SH   SOLE   30,135 0 0
Cheniere Energy Inc Com New 16411R208 302 4,355 SH   SOLE   4,355 0 0
Chesapeake Energy Corp Com 165167107 545 48,769 SH   SOLE   48,769 0 0
China Mobile Ltd Sponsored ADR 16941M109 658 10,265 SH   SOLE   10,265 0 0
Cosan Ltd SHS A G25343107 681 110,500 SH   SOLE   110,500 0 0
Csx Corp Com 126408103 573 17,540 SH   SOLE   17,540 0 0
Cvr Partners Lp Com 126633106 193 15,060 SH   SOLE   15,060 0 0
Deere & Co Com 244199105 291 3,000 SH   SOLE   3,000 0 0
Deltic Timber Corp Com 247850100 471 6,966 SH   SOLE   6,966 0 0
Dominion Resources Inc Com 25746U109 256 3,830 SH   SOLE   3,830 0 0
Domtar Corp Com 257559203 3,227 77,953 SH   SOLE   77,953 0 0
Duke Energy Corp Com New 26441C204 469 6,645 SH   SOLE   6,645 0 0
E I Du Pont De Nemours And Co Com 263534109 322 5,043 SH   SOLE   5,043 0 0
Echostar Corp Com 278768106 235 4,823 SH   SOLE   4,823 0 0
Enbridge Inc Com 29250N105 383 8,194 SH   SOLE   8,194 0 0
Energy Transfer Equity Lp Com Ut LTD PTN 29273V100 1,280 19,940 SH   SOLE   19,940 0 0
Energy Transfer Partners Lp Unit LTD Partn 29273R109 614 11,761 SH   SOLE   11,761 0 0
Enlink Midstream Partners Lp Com Unit Rep LTD 29336U107 585 26,623 SH   SOLE   26,623 0 0
Enterprise Products Partners Com 293792107 939 31,412 SH   SOLE   31,412 0 0
Eqt Corp Com 26884L109 1,156 14,209 SH   SOLE   14,209 0 0
Fibria Celulose Sa Sp ADR Rep Com 31573A109 2,082 152,958 SH   SOLE   152,958 0 0
Genesee & Wyoming Inc Com 371559105 846 11,099 SH   SOLE   11,099 0 0
Glatfelter Com 377316104 1,369 62,270 SH   SOLE   62,270 0 0
Grupo Aeroportuario Del Sureste Sponsored ADR 40051E202 1,424 10,035 SH   SOLE   10,035 0 0
Guangshen Railway Co Ltd Sponsored ADR 40065W107 202 7,382 SH   SOLE   7,382 0 0
Ingredion Inc Com 457187102 240 3,003 SH   SOLE   3,003 0 0
International Paper Co Com 460146103 4,873 102,402 SH   SOLE   102,402 0 0
Kansas City Southern Com 485170302 767 8,410 SH   SOLE   8,410 0 0
Kapstone Paper And Packagng Corp Com 48562P103 4,392 189,983 SH   SOLE   189,983 0 0
Kinder Morgan Inc Com 49456B101 1,783 46,452 SH   SOLE   46,452 0 0
Korea Electric Power (Kepco)(P) Sponsored ADR 500631106 758 37,244 SH   SOLE   37,244 0 0
Louisiana Pacific Corp Com 546347105 1,878 110,264 SH   SOLE   110,264 0 0
Markwest Energy Partners Lp Unit LTD Partn 570759100 879 15,589 SH   SOLE   15,589 0 0
Mead Johnson Nutrition Co Com 582839106 421 4,663 SH   SOLE   4,663 0 0
Measwestvaco Corp Com 583334107 4,517 95,718 SH   SOLE   95,718 0 0
Mercer International Inc Com 588056101 274 20,000 SH   SOLE   20,000 0 0
Mondelez International Inc CL A 609207105 393 9,556 SH   SOLE   9,556 0 0
Monsanto Co Com 61166W101 1,626 15,254 SH   SOLE   15,254 0 0
Mosaic Co Com 61945C103 1,618 34,541 SH   SOLE   34,541 0 0
National Grid Plc Sponsored ADR New 636274300 990 15,328 SH   SOLE   15,328 0 0
Navios Maritime Partners Lp Com Unit LTD Y62134104 139 12,980 SH   SOLE   12,980 0 0
Nextera Energy Inc Com 65339F101 317 3,235 SH   SOLE   3,235 0 0
Nippon Telegraph And Telphn Corp Sponsored ADR 654624105 228 6,280 SH   SOLE   6,280 0 0
Orange Sa Sponsored ADR 684060106 890 57,956 SH   SOLE   57,956 0 0
Packaging Corp Of America Com 695156109 5,067 81,081 SH   SOLE   81,081 0 0
Pge Corp Com 69331C108 265 5,405 SH   SOLE   5,405 0 0
Plains All American Pipeline Lp Unit LTD Partn 726503105 775 17,778 SH   SOLE   17,778 0 0
Plum Creek Timber Company Inc Com 729251108 4,555 112,263 SH   SOLE   112,263 0 0
Pope Resources A Delaware LP Depositry Rcpt 732857107 267 3,805 SH   SOLE   3,805 0 0
Potash Corporation Of Saskatchew Com 73755L107 1,002 32,368 SH   SOLE   32,368 0 0
Potlatch Corp Com 737630103 2,957 83,710 SH   SOLE   83,710 0 0
Rayonier Inc. Com 754907103 2,098 82,112 SH   SOLE   82,112 0 0
Rock-Tenn Co Com 772739207 5,320 88,375 SH   SOLE   88,375 0 0
Sba Communications Corp Com 78388J106 1,203 10,462 SH   SOLE   10,462 0 0
Schlumberger Nv Com 806857108 487 5,655 SH   SOLE   5,655 0 0
Sempra Energy Com 816851109 249 2,520 SH   SOLE   2,520 0 0
Sonoco Products Company Com 835495102 1,447 33,752 SH   SOLE   33,752 0 0
Spectra Energy Corp Com 847560109 810 24,850 SH   SOLE   24,850 0 0
Syngenta Ag Sponsored ADR 87160A100 1,672 20,493 SH   SOLE   20,493 0 0
Teekay Corp Com Y8564W103 618 14,444 SH   SOLE   14,444 0 0
Telefonica S.A. Sponsored ADR 879382208 888 62,567 SH   SOLE   62,567 0 0
Tesoro Logistics Lp Com Unit LP 88160T107 888 17,830 SH   SOLE   17,830 0 0
Total Sa Sponsored ADR 89151E109 1,128 22,936 SH   SOLE   22,936 0 0
Transcanada Corp Com 89353D107 550 13,528 SH   SOLE   13,528 0 0
Tyson Foods Inc Com 902494103 284 6,660 SH   SOLE   6,660 0 0
Ultrapar Participacoes Sa-Pf Sp ADR Rep Com 90400P101 639 30,422 SH   SOLE   30,422 0 0
Universal Forest Products Inc. Com 913543104 1,431 27,496 SH   SOLE   27,496 0 0
Vodafone Group Plc Spnsr ADR No Par 92857W308 219 6,014 SH   SOLE   6,014 0 0
Waste Connections Inc Com 941053100 699 14,827 SH   SOLE   14,827 0 0
Waste Management Inc Com 94106L109 1,316 28,394 SH   SOLE   28,394 0 0
Wausau Paper Corp Com 943315101 136 14,789 SH   SOLE   14,789 0 0
Weyerhaeuser Co Com 962166104 6,294 199,806 SH   SOLE   199,806 0 0
Whitewave Foods Co COM 966244105 375 7,665 SH   SOLE   7,665 0 0
Williams Companies Inc COM 969457100 1,974 34,395 SH   SOLE   34,395 0 0
Zoetis Inc CL A 98978V103 720 14,935 SH   SOLE   14,935 0 0