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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABERCROMBIE & FITCH CO CL A 002896207   687,819 20,900 SH   SOLE   20,900 0 0
AGNICO EAGLE MINES LTD COM 008474108   96,169 3,652 SH   SOLE   3,652 0 0
ALTERA CORP COM 021441100   562,150 17,281 SH   SOLE   17,281 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206   89,658 7,650 SH   SOLE   7,650 0 0
APPLE INC COM 037833100   9,704,397 17,295 SH   SOLE   17,295 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104   74,392 4,170 SH   SOLE   4,170 0 0
B2GOLD CORP COM 11777Q209   38,298 18,700 SH   SOLE   18,700 0 0
BARRICK GOLD CORP COM 067901108   242,377 13,789 SH   SOLE   13,789 0 0
CENTRAL EUROPEAN MEDIA ENTRP CL A NEW G20045202   18,385 5,000 SH   SOLE   5,000 0 0
CISCO SYS INC COM 17275R102   3,383,214 150,700 SH   SOLE   150,700 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104   69,496 6,194 SH   SOLE   6,194 0 0
CTC MEDIA INC COM 12642X106   8,233,051 592,519 SH   SOLE   592,519 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100   347,340 7,000 SH   SOLE   7,000 0 0
DISNEY WALT CO COM 254687106   807,395 10,568 SH   SOLE   10,568 0 0
ELDORADO GOLD CORP NEW COM 284902103   85,428 15,080 SH   SOLE   15,080 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103   42,624 4,350 SH   SOLE   4,350 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106   233,273 72,898 SH   SOLE   72,898 0 0
GOLDCORP INC NEW COM 380956409   194,181 8,971 SH   SOLE   8,971 0 0
GUESS INC COM 401617105   84,634 2,724 SH   SOLE   2,724 0 0
HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300   31,402 12,412 SH   SOLE   12,412 0 0
HOLLYFRONTIER CORP COM 436106108   6,358,382 127,961 SH   SOLE   127,961 0 0
HONDA MOTOR LTD AMERN SHS 438128308   905,565 21,900 SH   SOLE   21,900 0 0
IAMGOLD CORP COM 450913108   55,688 16,792 SH   SOLE   16,792 0 0
INTEL CORP COM 458140100   625,116 24,080 SH   SOLE   24,080 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101   1,018,880 5,432 SH   SOLE   5,432 0 0
ISHARES TR MSCI EMG MKT ETF 464287234   22,800,238 545,852 SH   SOLE   0 0 545,852
ISHARES TR RUSSELL 2000 ETF 464287655   3,459,300 30,000 SH   SOLE   0 0 30,000
ISHARES TR CHINA LG-CAP ETF 464287184   2,018,667 52,638 SH   SOLE   0 0 52,638
KINROSS GOLD CORP COM 496902404   118,938 27,226 SH   SOLE   27,226 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105   53,205 3,700 SH   SOLE   3,700 0 0
MICHAEL KORS HLDGS LTD SHS G60754101   3,071,011 37,825 SH   SOLE   37,825 0 0
MICROSOFT CORP COM 594918104   2,355,282 62,925 SH   SOLE   62,925 0 0
NEW GOLD INC CDA COM 644535106   51,503 9,860 SH   SOLE   9,860 0 0
NEWMONT CORP COM 651639106   375,158 16,290 SH   SOLE   16,290 0 0
NVIDIA CORPORATION COM 67066G104   6,532,122 407,748 SH   SOLE   407,748 0 0
ORACLE CORP COM 68389X105   956,500 25,000 SH   SOLE   25,000 0 0
PAN AMERN SILVER CORP COM 697900108   74,411 6,360 SH   SOLE   6,360 0 0
PVH CORPORATION COM 693656100   1,302,391 9,575 SH   SOLE   9,575 0 0
QUALCOMM INC COM 747525103   3,623,399 48,800 SH   SOLE   48,800 0 0
RALPH LAUREN CORP CL A 751212101   767,549 4,347 SH   SOLE   4,347 0 0
ROYAL GOLD INC COM 780287108   53,671 1,165 SH   SOLE   1,165 0 0
SILVER WHEATON CORP COM 828336107   112,890 5,602 SH   SOLE   5,602 0 0
VALERO ENERGY CORP COM 91913Y100   20,898,863 414,660 SH   SOLE   414,660 0 0
YAMANA GOLD INC COM 98462Y100   79,214 9,205 SH   SOLE   9,205 0 0