Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DAL	DELTA AIR LINES INC DEL	370,623	$18.8M	9.0%	$43.91	+6.5%	COM NEW	247361702
AAL	AMERICAN AIRLS GROUP INC	585,558	$18.71M	9.0%	$38.19	-13.3%	COM	02376R102
LUV	SOUTHWEST AIRLS CO	164,465	$8.537M	4.1%	$44.26	+9.1%	COM	844741108
UAL	UNITED CONTL HLDGS INC	103,558	$8.262M	4.0%	$65.65	+28.6%	COM	910047109
ALK	ALASKA AIR GROUP INC	107,188	$6.281M	3.0%	$65.85	-9.5%	COM	011659109
ALGT	ALLEGIANT TRAVEL	51,020	$5.769M	2.8%	$131.52	-8.6%	COM	01748X102
WPM	WHEATON PRECIOUS METALS	208,820	$4.975M	2.4%	$18.97	+3.3%	COM	962879102
BA	BOEING CO/THE	13,022	$4.498M	2.2%	$235.79	+59.1%	COM	097023105
—	DIRXN DAILY JR BULL GOLD	425,000	$4.17M	2.0%	$12.55	—	DAILY JR BULL 3X	25460E851
—	DIREXION DAILY GOLD MINER	210,000	$4.156M	2.0%	$22.42	—	DLY GOLD INDX 3X	25460E844
—	SANDSTORM GOLD LTD	682,000	$3.737M	1.8%	$4.50	—	COM NEW	80013R206
HL	HECLA MINING CO	1,600,000	$3.68M	1.8%	$2.94	-17.5%	COM	422704106
SKYW	SKYWEST INC	57,036	$3.096M	1.5%	$29.44	+74.3%	COM	830879102
SSRM	SSR MINING INC	228,173	$2.889M	1.4%	$10.38	+27.4%	COM	784730103
JBLU	JETBLUE AWYS CORP	175,839	$2.877M	1.4%	$21.04	-18.6%	COM	477143101
—	SPIRIT AIRLS INC	53,848	$2.846M	1.4%	$41.46	—	COM	848577102
—	SILVERCREST METALS INC	800,000	$2.619M	1.3%	$2.43	—	COM	828363101
—	GOLDEN STAR RESOURCES LTD	650,000	$2.581M	1.2%	$3.15	—	COM	38119T807
—	HAWAIIAN HOLDINGS INC	97,309	$2.554M	1.2%	$35.54	—	COM	419879101
—	OSISKO GOLD ROYALTIES LTD	200,000	$2.248M	1.1%	$8.82	—	COM	68827L101
GD	GENERAL DYNAMICS CORP	12,853	$2.176M	1.0%	$138.45	+3.8%	COM	369550108
TXT	TEXTRON INC	41,095	$2.082M	1.0%	$48.69	+5.0%	COM	883203101
SVM	SILVERCORP METALS INC	801,946	$2.046M	1.0%	$2.74	-12.0%	COM	82835P103
PAAS	PAN AMERICAN SILVER CORP	150,000	$1.988M	1.0%	$17.04	-17.9%	COM	697900108
—	VERSUM MATERIALS INC	36,093	$1.816M	0.9%	$32.73	—	COM	92532W103
AGI	ALAMOS GOLD INC	350,000	$1.778M	0.9%	$5.18	-17.0%	COM CL A	011532108
POOL	POOL CORP	10,769	$1.777M	0.9%	$139.33	+3.1%	COM	73278L105
RGLD	ROYAL GOLD INC	19,477	$1.771M	0.8%	$86.53	+0.9%	COM	780287108
HD	HOME DEPOT INC	9,101	$1.746M	0.8%	$157.19	-1.6%	COM	437076102
IAG	IAMGOLD CORP	500,000	$1.735M	0.8%	$4.13	-15.2%	COM	450913108
FNV	FRANCO NEVADA CORP	22,438	$1.684M	0.8%	$69.64	-0.1%	COM	351858105
—	KIRKLAND LAKE GOLD LTD	54,780	$1.666M	0.8%	$27.47	—	COM	49741E100
—	HFF INC-A	33,176	$1.584M	0.8%	$37.87	—	CL A	40418F108
AEM	AGNICO EAGLE MINES LTD	35,000	$1.523M	0.7%	$32.80	+11.0%	COM	008474108
—	AURYN RES INC	1,000,000	$1.476M	0.7%	$2.04	—	COM	05208W108
—	CNOOC LTD-ADR	7,900	$1.467M	0.7%	$167.46	—	SPONSORED ADR	126132109
HMY	HARMONY GOLD-ADR	770,796	$1.465M	0.7%	$1.81	—	SPONSORED ADR	413216300
NGVT	INGEVITY CORP	13,676	$1.444M	0.7%	$91.14	+10.2%	COM	45688C107
GFI	GOLD FIELDS LTD-ADR	380,000	$1.418M	0.7%	$3.72	—	NEW SPONSORED ADR	38059T106
BTG	B2GOLD CORP	490,428	$1.396M	0.7%	$2.16	+10.4%	COM	11777Q209
COKE	COCA-COLA BOTTLI	4,827	$1.389M	0.7%	$21.67	0.0%	COM	191098102
CAR	AVIS BUDGET GROUP INC	39,718	$1.385M	0.7%	$27.75	+2.6%	COM	053774105
AMCX	AMC NETWORKS INC-A	23,499	$1.334M	0.6%	$59.97	+2.5%	CL A	00164V103
EMX	EMX RTY CORP	1,100,000	$1.31M	0.6%	$1.13	—	COM	26873J107
EGO	ELDORADO GOLD	270,000	$1.251M	0.6%	$3.55	+9.7%	NEW COM	284902509
MSCI	MSCI INC	6,256	$1.244M	0.6%	$162.27	0.0%	COM	55354G100
ABBV	ABBVIE INC	14,588	$1.176M	0.6%	$65.85	-7.3%	COM	00287Y109
CLX	CLOROX CO	7,310	$1.173M	0.6%	$126.88	0.0%	COM	189054109
SNBR	SLEEP NUMBER CORP	23,873	$1.122M	0.5%	$40.26	0.0%	COM	83125X103
LGIH	LGI HOMES INC	17,327	$1.044M	0.5%	$48.79	+18.7%	COM	50187T106
SGI	TEMPUR SEALY INTL INC	17,843	$1.029M	0.5%	$13.52	0.0%	COM	88023U101
—	GOLD STANDARD VENTURES CO	1,000,000	$1.02M	0.5%	$1.44	—	COM	380738104
ALLE	ALLEGION PLC	11,134	$1.01M	0.5%	$79.73	0.0%	ORD SHS	G0176J109
TECK	TECK RESOURCES-B	43,000	$996K	0.5%	$24.17	-6.7%	CL B	878742204
—	YAMANA GOLD INC	375,000	$979K	0.5%	$2.90	—	COM	98462Y100
—	FORTUNA SILVER MINES INC	277,363	$966K	0.5%	$4.05	—	COM	349915108
—	GREAT PANTHER MINING LTD	997,600	$939K	0.4%	$1.11	—	COM	39115V101
NEM	NEWMONT MINING CORP	25,000	$894K	0.4%	$28.10	-2.7%	COM	651639106
UUUU	ENERGY FUELS INC	250,000	$833K	0.4%	$2.95	+2.0%	COM NEW	292671708
BHP	BHP GROUP LTD-ADR	15,000	$820K	0.4%	$54.67	—	SPONSORED ADS	088606108
—	SHANGHAI PECHEM-ADR	17,000	$811K	0.4%	$60.22	—	SPON ADR H	82935M109
PETS	PETMED EXPRESS INC	35,104	$800K	0.4%	$25.92	-13.0%	COM	716382106
—	ALIO GOLD INC	1,100,000	$800K	0.4%	$1.26	—	COM	01627X108
OMAB	GRUPO AEROPORTUARIO CTR NORT	16,396	$739K	0.4%	$44.17	—	SPON ADR	400501102
NUE	NUCOR CORP	12,500	$729K	0.3%	$50.70	0.0%	COM	670346105
URI	UNITED RENTALS INC	6,336	$724K	0.3%	$119.60	0.0%	COM	911363109
HBM	HUDBAY MINERALS INC	100,000	$715K	0.3%	$6.08	+1.7%	COM	443628102
RYAAY	RYANAIR HLDGS PLC	9,450	$708K	0.3%	$90.67	—	SPON ADR	783513203
E	ENI SPA-ADR	20,000	$705K	0.3%	$35.25	—	SPONSORED ADR	26874R108
—	GOL LINHAS AEREAS INTLG S A	51,410	$671K	0.3%	$9.64	—	SPON ADR PFD NEW	38045R206
COP	CONOCOPHILLIPS	10,000	$667K	0.3%	$52.98	0.0%	COM	20825C104
—	TURQUOISE HILL RESOURCES	400,000	$664K	0.3%	$1.66	—	COM	900435108
ENVA	ENOVA INTERNATIONAL INC	28,494	$650K	0.3%	$23.55	0.0%	COM	29357K103
SU	SUNCOR ENERGY INC	20,000	$649K	0.3%	$24.80	0.0%	NEW COM	867224107
WPM	WPM US 04/18/19 C22.5	4,450	$630K	0.3%	$18.97	+3.3%	Call	962879102
—	ROYAL DUTCH SHELL PLC-ADR	10,000	$626K	0.3%	$62.60	—	SPONS ADR A	780259206
—	SINOPEC CORP-ADR	7,850	$624K	0.3%	$79.13	—	SPON ADR H SHS	16941R108
—	PETROCHINA -ADR	9,500	$622K	0.3%	$61.58	—	SPONSORED ADR	71646E100
CF	CF INDUSTRIES HOLDINGS	15,000	$613K	0.3%	$35.76	0.0%	COM	125269100
LPX	LOUISIANA-PACIFIC CORP	25,000	$610K	0.3%	$28.77	-15.1%	COM	546347105
CDE	COEUR MINING INC	145,225	$593K	0.3%	$4.73	+2.1%	COM NEW	192108504
MED	MEDIFAST INC	4,573	$583K	0.3%	$104.33	0.0%	COM	58470H101
—	AMERICAS SILVER CORP	350,000	$582K	0.3%	$3.50	—	COM NEW	03063L705
—	RESOLUTE FOREST PRODUCTS	70,000	$553K	0.3%	$12.95	—	COM	76117W109
—	NORBORD INC	20,000	$552K	0.3%	$36.16	—	COM NEW	65548P403
CNQ	CANADIAN NATURAL RESOURCE	20,000	$550K	0.3%	$9.35	0.0%	COM	136385101
EQNR	EQUINOR ASA-ADR	25,000	$549K	0.3%	$21.96	—	SPONSORED ADR	29446M102
MOS	MOSAIC CO/THE	20,000	$546K	0.3%	$26.91	0.0%	NEW COM	61945C103
XLRE	REAL ESTATE SEL SECT SPDR	14,900	$539K	0.3%	$31.01	—	RL EST SEL SEC	81369Y860
XLK	TECHNOLOGY SELECT SECT SP	7,200	$533K	0.3%	$74.03	—	TECHNOLOGY	81369Y803
EXEL	EXELIXIS INC	22,312	$531K	0.3%	$22.80	0.0%	COM	30161Q104
CORT	CORCEPT THERAPEUTICS INC	44,128	$518K	0.2%	$17.40	-28.6%	COM	218352102
UNP	UNION PACIFIC CORP	3,083	$515K	0.2%	$128.20	+7.7%	COM	907818108
KGC	KINROSS GOLD CORP	149,200	$513K	0.2%	$3.34	0.0%	COM	496902404
XLC	COMM SERV SELECT SECT ETF	10,900	$509K	0.2%	$46.70	—	COMMUNICATION	81369Y852
CTSH	COGNIZANT TECH-A	6,896	$500K	0.2%	$62.63	+0.9%	CL A	192446102
ZION	ZIONS BANCORP	10,455	$475K	0.2%	$52.12	-8.5%	COM	989701107
PBF	PBF ENERGY INC-A	15,000	$467K	0.2%	$47.52	-29.3%	CL A	69318G106
—	TRINSEO SA	10,000	$453K	0.2%	$78.27	—	SHS	L9340P101
AMG	AFFILIATED MANAGERS GROUP	4,132	$443K	0.2%	$134.84	-22.6%	COM	008252108
AVGO	BROADCOM INC	1,429	$430K	0.2%	$19.90	+13.0%	COM	11135F101
NTAP	NETAPP INC	6,199	$430K	0.2%	$57.44	-7.1%	COM	64110D104
ROST	ROSS STORES INC	4,561	$425K	0.2%	$84.34	+1.6%	COM	778296103
TJX	TJX COS INC	7,794	$415K	0.2%	$45.47	0.0%	NEW COM	872540109
PKG	PACKAGING CORP OF AMERICA	4,146	$412K	0.2%	$76.99	0.0%	COM	695156109
STZ	CONSTELLATION-A	2,342	$411K	0.2%	$186.13	-19.1%	CL A	21036P108
—	PGT INNOVATIONS INC	28,796	$399K	0.2%	$13.86	—	COM	69336V101
HPE	HEWLETT PACKARD ENTERPRIS	25,247	$390K	0.2%	$11.97	+3.3%	COM	42824C109
NSC	NORFOLK SOUTHERN CORP	2,063	$386K	0.2%	$150.47	0.0%	COM	655844108
—	LAM RESEARCH CORP	2,067	$370K	0.2%	$140.20	—	COM	512807108
AMGN	AMGEN INC	1,939	$368K	0.2%	$138.82	+11.4%	COM	031162100
BXP	BOSTON PROPERTIES INC	2,671	$358K	0.2%	$92.62	0.0%	COM	101121101
DBB	INVESCO DB BASE METALS	20,000	$341K	0.2%	$17.05	—	BASE METALS FD	46140H700
SBUX	STARBUCKS CORP	4,449	$331K	0.2%	$59.25	0.0%	COM	855244109
EPOL	ISHARES MSCI POLAND ETF	14,200	$325K	0.2%	$23.45	—	MSCI POLAND ETF	46429B606
MO	ALTRIA GROUP INC	5,540	$318K	0.2%	$29.72	0.0%	COM	02209S103
CMA	COMERICA INC	4,298	$315K	0.2%	$57.48	0.0%	COM	200340107
—	BARRICK GOLD CRP	23,202	$314K	0.2%	$13.55	—	COM	067901108
CHD	CHURCH & DWIGHT CO INC	4,373	$311K	0.1%	$60.61	0.0%	COM	171340102
ZTS	ZOETIS INC	3,055	$308K	0.1%	$79.78	+7.7%	CL A	98978V103
—	LIVENT CORP	25,000	$307K	0.1%	$12.28	—	COM	53814L108
—	COMSTOCK MINING INC	1,457,329	$306K	0.1%	$0.39	—	COM NEW	205750201
GT	GOODYEAR TIRE & RUBBER CO	16,218	$294K	0.1%	$21.66	-10.1%	COM	382550101
EVRG	EVERGY INC	5,051	$293K	0.1%	$43.70	0.0%	COM	30034W106
—	CIMAREX ENERGY CO	4,195	$293K	0.1%	$89.95	—	COM	171798101
—	GOLD US 01/15/21 C12	850	$284K	0.1%	$13.55	—	Call	067901108
SPY	SPY US 01/17/20 P236	700	$281K	0.1%	—	—	Put	78462F103
FDX	FEDEX CORP	1,537	$279K	0.1%	$155.84	0.0%	COM	31428X106
EWT	ISHARES MSCI TAIWAN ETF	8,000	$277K	0.1%	$34.63	—	MSCI TAIWAN ETF	46434G772
—	DIREXION DAILY F	11,000	$266K	0.1%	$24.18	—	DL FTSE BLL 3X	25459W771
VNM	VANECK VECTORS VIETNAM ET	16,000	$265K	0.1%	$16.56	—	TR VIETNAM ETF	92189F817
—	DIRX RUS BULL 3X	7,050	$263K	0.1%	$33.07	—	DLY RUSSIA BL 3X	25490K273
KEY	KEYCORP	16,520	$260K	0.1%	$11.97	0.0%	COM	493267108
MCK	MCKESSON CORP	2,168	$254K	0.1%	$117.27	0.0%	COM	58155Q103
SID	CIA SIDERURGICA NACL-ADR	56,000	$230K	0.1%	$4.11	—	SPONSORED ADR	20440W105
—	TIVITY HEALTH INC	13,066	$229K	0.1%	$17.53	—	COM	88870R102
—	LAREDO PETROLEUM	71,158	$220K	0.1%	$3.09	—	COM	516806106
DBA	INVESCO DB AGRI FUND	13,000	$214K	0.1%	$16.46	—	AGRICULTURE FD	46140H106
CTRA	CABOT OIL & GAS CORP	8,190	$214K	0.1%	$18.65	0.0%	COM	127097103
CORN	TEUCRIUM CORN FUND	12,500	$190K	0.1%	$15.20	—	CORN FD SHS	88166A102
UGA	US GAS FUND LP	6,300	$185K	0.1%	$29.37	—	UNITS	91201T102
—	DENBURY RESOURCES INC	89,801	$184K	0.1%	$2.05	—	COM NEW	247916208
AMAT	APPLIED MATERIALS INC	4,646	$184K	0.1%	$35.32	0.0%	COM	038222105
GDX	VANECK VECTORS GOLD MINER	8,000	$179K	0.1%	$22.38	—	TR GOLD MINERS ETF	92189F106
—	PVG US 06/21/19 C9	2,850	$162K	0.1%	—	—	Call	74139C102
SIL	GLOBAL X SILVER MINER ETF	6,000	$158K	0.1%	$26.33	—	GLOBAL X SILVER	37954Y848
RYN	RAYONIER INC	5,000	$158K	0.1%	$31.60	—	COM	754907103
EWS	ISHARES MSCI SINGAPORE	6,500	$154K	0.1%	$23.69	—	MSCI SINGPOR ETF	46434G780
—	MECHEL-SPON ADR	78,000	$154K	0.1%	$3.14	—	SPONSORED ADR NE	583840608
IAG	IAG US 04/18/19 C3	2,800	$154K	0.1%	$4.13	-15.2%	Call	450913108
—	MOBILE TELES-ADR	19,200	$145K	0.1%	$8.84	—	SPONSORED ADR	607409109
ASHR	DEUTSCHE X-TRACKERS ETF	5,000	$144K	0.1%	$28.80	—	XTRACK HRVST CSI	233051879
EOG	EOG RESOURCES INC	1,496	$142K	0.1%	$71.93	0.0%	COM	26875P101
—	TEUCRIUM WHEAT FUND	25,000	$132K	0.1%	$5.28	—	WHEAT FD	88166A508
URA	GLOBAL X URANIUM ETF	10,000	$125K	0.1%	$12.50	—	GLOBAL X URANIUM	37954Y871
XLE	SPDR-ENERGY SELECT	1,800	$119K	0.1%	$66.11	—	ENERGY	81369Y506
—	PROSHARES ULTRA BB CR	3,500	$75,000	0.0%	$21.43	—	ULTA BLMBG 2017	74347W247
—	XOP US 04/18/19 C30	525	$67,000	0.0%	—	—	Call	78464A730
IEZ	ISHARES US OIL EQUIPMENT	1,950	$49,000	0.0%	$25.13	—	US OIL EQ&SV ETF	464288844
—	BP PRUDHOE BAY ROYALTY TR	1,500	$40,000	0.0%	$26.67	—	UNIT BEN INT	055630107
NEM	NEM US 04/18/19 C37	1,100	$39,000	0.0%	$28.10	-2.7%	Call	651639106
HSBC	HSBC US 09/20/19 C43	300	$20,000	0.0%	—	—	Call	404280406
SJT	SAN JUAN BASIN ROYALTY TR	2,000	$11,000	0.0%	$7.90	—	UNIT BEN INT	798241105