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
ABERDEEN STANDRD PHYSICAL PHYSCL PALLADM 003262102 159 1,000 SH   SOLE   0 1,000 0
AGNICO EAGLE MINES LTD COM 008474108 1,876 35,000 SH   SOLE   0 35,000 0
ALAMOS GOLD INC COM CL A 011532108 1,160 200,000 SH   SOLE   0 200,000 0
ALLEGION PLC ORD SHS G0176J109 417 4,026 SH   SOLE   0 4,026 0
ALTRIA GROUP INC COM 02209S103 418 10,209 SH   SOLE   0 10,209 0
AMC NETWORKS INC-A CL A 00164V103 1,091 22,183 SH   SOLE   0 22,183 0
AMERICAN TOWER CORP NEW COM 03027X100 413 1,868 SH   SOLE   0 1,868 0
ANGLOGOLD ASHANTI LTD-ADR SPONSORED ADR 035128206 914 50,000 SH   SOLE   0 50,000 0
ANGLOGOLD ASHANTI LTD-ADR SPONSORED ADR 035128206 1,827 100,000 SH   SOLE   0 100,000 0
APACHE CORP COM 037411105 512 20,000 SH   SOLE   0 20,000 0
BHP GROUP LTD-ADR SPONSORED ADS 088606108 494 10,000 SH   SOLE   0 10,000 0
BIOTELEMETRY INC COM 090672106 788 19,335 SH   SOLE   0 19,335 0
BONANZA CREEK ENERGY INC COM NEW 097793400 901 40,229 SH   SOLE   0 40,229 0
BROADCOM INC COM 11135F101 412 1,493 SH   SOLE   0 1,493 0
CABOT OIL & GAS CORP COM 127097103 417 23,709 SH   SOLE   0 23,709 0
CANADIAN NATURAL RESOURCE COM 136385101 533 20,000 SH   SOLE   0 20,000 0
CARE.COM INC COM 141633107 865 82,770 SH   SOLE   0 82,770 0
CF INDUSTRIES HOLDINGS COM 125269100 1,230 25,000 SH   SOLE   0 25,000 0
CHARLES SCHWAB CORP/THE COM 808513105 417 9,968 SH   SOLE   0 9,968 0
CHURCHILL DOWNS COM 171484108 1,314 10,645 SH   SOLE   0 10,645 0
CNOOC LTD-ADR SPONSORED ADR 126132109 594 3,900 SH   SOLE   0 3,900 0
CNOOC LTD-ADR SPONSORED ADR 126132109 609 4,000 SH   SOLE   0 4,000 0
COMERICA INC COM 200340107 414 6,275 SH   SOLE   0 6,275 0
COMSTOCK MINING INC COM NEW 205750201 57 533,000 SH   SOLE   0 533,000 0
CONOCOPHILLIPS COM 20825C104 570 10,000 SH   SOLE   0 10,000 0
CROCS INC COM 227046109 1,258 45,306 SH   SOLE   0 45,306 0
CSG SYSTEMS INTL COM 126349109 976 18,886 SH   SOLE   0 18,886 0
DIREXION DAILY GOLD MINER DLY GOLD INDX 3X 25460E844 56 2,000 SH   SOLE   0 2,000 0
DIREXION DAILY GOLD MINER DLY GOLD INDX 3X 25460E844 1,672 60,000 SH   SOLE   0 60,000 0
DIREXION DAILY GOLD MINER DLY GOLD INDX 3X 25460E844 3,845 138,000 SH   SOLE   0 138,000 0
DIREXION DLY EMG MKT BEAR DAILY MSCI EMERG 25460E547 186 3,900 SH   SOLE   0 3,900 0
DIREXION DLY NAT GAS BEAR DAILY NAT GAS RE 25490K117 18 300 SH   SOLE   0 300 0
DIRX RUS BULL 3X DLY RUSSIA BL 3X 25490K273 156 3,350 SH   SOLE   0 3,350 0
DMC GLOBAL INC COM 23291C103 206 4,677 SH   SOLE   0 4,677 0
DRXN D JR GOLD3X DAILY JR GLD MIN ADDED 25460E166 46 800 SH   SOLE   0 800 0
DRXN D JR GOLD3X DAILY JR GLD MIN ADDED 25460E166 1,714 30,000 SH   SOLE   0 30,000 0
DRXN D JR GOLD3X DAILY JR GLD MIN ADDED 25460E166 3,143 55,000 SH   SOLE   0 55,000 0
DRXN DAILY S&P OIL&GAS BE DLY S&P OIL GAS 25460E174 24 300 SH   SOLE   0 300 0
EATON VANCE CORP COM NON VTG 278265103 1,279 28,460 SH   SOLE   0 28,460 0
ECOPETROL SA-ADR SPONSORED ADS 279158109 511 30,000 SH   SOLE   0 30,000 0
ENERGY FUELS INC COM NEW 292671708 483 250,000 SH   SOLE   0 250,000 0
ENI SPA-ADR SPONSORED ADR 26874R108 915 30,000 SH   SOLE   0 30,000 0
ENOVA INTERNATIONAL INC COM 29357K103 878 42,291 SH   SOLE   0 42,291 0
EOG RESOURCES INC COM 26875P101 413 5,568 SH   SOLE   0 5,568 0
EOG RESOURCES INC COM 26875P101 445 6,000 SH   SOLE   0 6,000 0
EQUINOR ASA-ADR SPONSORED ADR 29446M102 474 25,000 SH   SOLE   0 25,000 0
EVERGY INC COM 30034W106 410 6,160 SH   SOLE   0 6,160 0
EXELIXIS INC COM 30161Q104 1,034 58,480 SH   SOLE   0 58,480 0
F5 NETWORKS INC COM 315616102 1,200 8,548 SH   SOLE   0 8,548 0
FAIR ISAAC CORP COM 303250104 1,103 3,634 SH   SOLE   0 3,634 0
FED SIGNAL CORP COM 313855108 1,159 35,401 SH   SOLE   0 35,401 0
FREEPORT-MCMORAN INC CL B 35671D857 239 25,000 SH   SOLE   0 25,000 0
GLOBAL X SILVER MINER ETF GLOBAL X SILVER 37954Y848 98 3,500 SH   SOLE   0 3,500 0
GOLD FIELDS LTD-ADR SPONSORED ADR 38059T106 1,230 250,000 SH   SOLE   0 250,000 0
GOLD STANDARD VENTURES CO COM 380738104 768 1,000,000 SH   SOLE   0 1,000,000 0
GOLD US 01/15/21 C12 COM 067901108 270 450 SH Call SOLE   0 450 0
GOLD US 01/15/21 C12 COM 067901108 330 550 SH Call SOLE   0 550 0
GOLD US 01/15/21 C12 COM 067901108 420 700 SH Call SOLE   0 700 0
GOLDEN STAR RESOURCES LTD COM 38119T807 572 200,000 SH   SOLE   0 200,000 0
GREAT PANTHER MINING LTD COM 39115V101 1,411 2,000,000 SH   SOLE   0 2,000,000 0
HALLIBURTON CO COM 406216101 377 20,000 SH   SOLE   0 20,000 0
HARMONY GOLD-ADR SPONSORED ADR 413216300 1,420 500,000 SH   SOLE   0 500,000 0
HCA HEALTHCARE INC COM 40412C101 416 3,451 SH   SOLE   0 3,451 0
HOME DEPOT INC COM 437076102 417 1,797 SH   SOLE   0 1,797 0
HP INC COM 40434L105 422 22,312 SH   SOLE   0 22,312 0
IAMGOLD CORP COM 450913108 1,705 500,000 SH   SOLE   0 500,000 0
IDEXX LABORATORIES INC COM 45168D104 1,793 6,595 SH   SOLE   0 6,595 0
INGREDION INC COM 457187102 572 7,000 SH   SOLE   0 7,000 0
INOGEN INC COM 45780L104 697 14,553 SH   SOLE   0 14,553 0
INTL PAPER CO COM 460146103 272 6,500 SH   SOLE   0 6,500 0
INTUIT INC COM 461202103 411 1,545 SH   SOLE   0 1,545 0
INVESCO DB AGRI FUND AGRICULTURE FD 46140H106 190 12,000 SH   SOLE   0 12,000 0
ISHARES U.S. REAL ESTATE U.S. REAL ES ETF 464287739 299 3,200 SH   SOLE   0 3,200 0
KIMBERLY-CLARK CORP COM 494368103 1,918 13,499 SH   SOLE   0 13,499 0
KIRKLAND LAKE GOLD LTD COM 49741E100 448 10,000 SH   SOLE   0 10,000 0
KIRKLAND LAKE GOLD LTD COM 49741E100 1,344 30,000 SH   SOLE   0 30,000 0
LOUISIANA-PACIFIC CORP COM 546347105 246 10,000 SH   SOLE   0 10,000 0
MASTERCARD INC-A CL A 57636Q104 412 1,517 SH   SOLE   0 1,517 0
MCKESSON CORP COM 58155Q103 413 3,024 SH   SOLE   0 3,024 0
MEDIFAST INC COM 58470H101 813 7,849 SH   SOLE   0 7,849 0
MERCER INTERNATIONAL INC COM 588056101 528 42,101 SH   SOLE   0 42,101 0
MERCK & CO INC COM 58933Y105 416 4,946 SH   SOLE   0 4,946 0
MOBILE TELES-ADR SPONSORED ADR 607409109 127 15,700 SH   SOLE   0 15,700 0
MOMO INC-ADR ADR 60879B107 81 2,621 SH   SOLE   0 2,621 0
MONDELEZ INTERNATIONAL IN CL A 609207105 413 7,464 SH   SOLE   0 7,464 0
MOSAIC CO/THE NEW COM 61945C103 410 20,000 SH   SOLE   0 20,000 0
MSCI INC COM 55354G100 405 1,858 SH   SOLE   0 1,858 0
MSCI INC COM 55354G100 1,688 7,751 SH   SOLE   0 7,751 0
NEWMONT GOLDCORP CORP COM 651639106 1,896 50,000 SH   SOLE   0 50,000 0
NORFOLK SOUTHERN CORP COM 655844108 406 2,259 SH   SOLE   0 2,259 0
NUCOR CORP COM 670346105 636 12,500 SH   SOLE   0 12,500 0
OCCIDENTAL PETROLEUM CORP COM 674599105 268 6,026 SH   SOLE   0 6,026 0
OCCIDENTAL PETROLEUM CORP COM 674599105 406 9,130 SH   SOLE   0 9,130 0
ORACLE CORP COM 68389X105 419 7,615 SH   SOLE   0 7,615 0
PAN AMERICAN SILVER CORP COM 697900108 1,176 75,000 SH   SOLE   0 75,000 0
PETROBRAS SA-ADR SPONSORED ADR 71654V408 362 25,000 SH   SOLE   0 25,000 0
PHILLIPS 66 COM 718546104 666 6,500 SH   SOLE   0 6,500 0
POTLATCHDELTIC CORP COM 737630103 411 10,000 SH   SOLE   0 10,000 0
PROSHARES ULTRASHRT BASIC BASIC MAT NEW 74347B177 135 5,100 SH   SOLE   0 5,100 0
PULTEGROUP INC COM 745867101 420 11,483 SH   SOLE   0 11,483 0
RAYONIER INC COM 754907103 141 5,000 SH   SOLE   0 5,000 0
REGIONS FINANCIA NEW COM 7591EP100 406 25,646 SH   SOLE   0 25,646 0
RESOLUTE FOREST PRODUCTS COM 76117W109 329 70,000 SH   SOLE   0 70,000 0
ROYAL DUTCH SHELL PLC-ADR SPONS ADR A 780259206 1,177 20,000 SH   SOLE   0 20,000 0
S&P GLOBAL INC COM 78409V104 1,932 7,887 SH   SOLE   0 7,887 0
SAN JUAN BASIN ROYALTY TR UNIT BEN INT 798241105 6 2,000 SH   SOLE   0 2,000 0
SANDSTORM GOLD LTD COM NEW 80013R206 462 82,000 SH   SOLE   0 82,000 0
SANDSTORM GOLD LTD COM NEW 80013R206 3,384 600,000 SH   SOLE   0 600,000 0
SCOTTS MIRACLE-GRO CO/THE CL A 810186106 1,270 12,473 SH   SOLE   0 12,473 0
SEABRIDGE GOLD INC COM 811916105 380 30,000 SH   SOLE   0 30,000 0
SHANGHAI PECHEM-ADR SPON ADR H 82935M109 58 2,000 SH   SOLE   0 2,000 0
SHANGHAI PECHEM-ADR SPON ADR H 82935M109 438 15,000 SH   SOLE   0 15,000 0
SHERWIN-WILLIAMS CO COM 824348106 415 754 SH   SOLE   0 754 0
SILVERCORP METALS INC COM 82835P103 1,945 500,000 SH   SOLE   0 500,000 0
SINOPEC CORP-ADR SPON ADR H SHS 16941R108 440 7,500 SH   SOLE   0 7,500 0
SPDR GOLD SHARES GOLD SHS 78463V107 208 1,500 SH   SOLE   0 1,500 0
SPDR-UTIL SELECT SBI INT-UTILS 81369Y886 155 2,400 SH   SOLE   0 2,400 0
SPDR-UTIL SELECT SBI INT-UTILS 81369Y886 388 6,000 SH   SOLE   0 6,000 0
SPY US 01/17/20 P236 TR UNIT 78462F103 17 200 SH Put SOLE   0 200 0
SPY US 01/17/20 P236 TR UNIT 78462F103 43 500 SH Put SOLE   0 500 0
SSR MINING INC COM 784730103 2,904 200,000 SH   SOLE   0 200,000 0
STARBUCKS CORP COM 855244109 409 4,625 SH   SOLE   0 4,625 0
SUNCOR ENERGY INC NEW COM 867224107 632 20,000 SH   SOLE   0 20,000 0
SYSCO CORP COM 871829107 418 5,265 SH   SOLE   0 5,265 0
TECK RESOURCES-B CL B 878742204 162 10,000 SH   SOLE   0 10,000 0
TEMPUR SEALY INTL INC COM 88023U101 1,265 16,381 SH   SOLE   0 16,381 0
TORO CO COM 891092108 1,359 18,545 SH   SOLE   0 18,545 0
TREX CO INC COM 89531P105 1,609 17,694 SH   SOLE   0 17,694 0
UNION PACIFIC CORP COM 907818108 410 2,533 SH   SOLE   0 2,533 0
VALERO ENERGY NEW COM 91913Y100 639 7,500 SH   SOLE   0 7,500 0
VANECK ITM MUNI AMT FREE INT ETF 92189H201 1,509 30,000 SH   SOLE   0 30,000 0
VANECK LONG MUNI AMT FREE LONG MU 92189F536 1,480 70,000 SH   SOLE   0 70,000 0
VANECK SHRT MUNI AMT FREE SHORT M 92189F528 1,504 85,000 SH   SOLE   0 85,000 0
VANECK VECTORS GOLD MINER GOLD MINERS ETF 92189F106 160 6,000 SH   SOLE   0 6,000 0
VANECK VECTORS OIL REFINE OIL REFINERS ETF 92189F585 263 9,300 SH   SOLE   0 9,300 0
VANGUARD CN ST E CONSUM STP ETF 92204A207 141 900 SH   SOLE   0 900 0
VANGUARD CN ST E CONSUM STP ETF 92204A207 344 2,200 SH   SOLE   0 2,200 0
VANGUARD SHORT-T SHORT TERM TREAS 92206C102 4,388 72,000 SH   SOLE   0 72,000 0
VANGUARD UTILITIES ETF UTILITIES ETF 92204A876 72 500 SH   SOLE   0 500 0
VANGUARD UTILITIES ETF UTILITIES ETF 92204A876 359 2,500 SH   SOLE   0 2,500 0
VISA INC-CLASS A COM CL A 92826C839 405 2,356 SH   SOLE   0 2,356 0
WALKER & DUNLOP COM 93148P102 938 16,779 SH   SOLE   0 16,779 0
WHEATON PRECIOUS METALS COM 962879102 787 30,000 SH   SOLE   0 30,000 0
WHEATON PRECIOUS METALS COM 962879102 3,936 150,000 SH   SOLE   0 150,000 0
WYNN RESORTS LTD COM 983134107 405 3,728 SH   SOLE   0 3,728 0
YAMANA GOLD INC COM 98462Y100 1,193 375,000 SH   SOLE   0 375,000 0
ZOETIS INC CL A 98978V103 411 3,296 SH   SOLE   0 3,296 0
AIR TRANSPORT SERVICES GRP I COM 00922R105 1,470 69,929 SH   SOLE   0 69,929 0
ALASKA AIR GROUP INC COM 011659109 2,025 31,193 SH   SOLE   0 31,193 0
ALLEGIANT TRAVEL CO COM 01748X102 2,014 13,460 SH   SOLE   0 13,460 0
AMERICAN AIRLS GROUP INC COM 02376R102 5,530 205,041 SH   SOLE   0 205,041 0
BOEING CO COM 097023105 1,557 4,091 SH   SOLE   0 4,091 0
DELTA AIR LINES INC DEL COM NEW 247361702 5,973 103,702 SH   SOLE   0 103,702 0
FRANCO NEVADA CORP COM 351858105 3,321 36,434 SH   SOLE   0 36,434 0
GOL LINHAS AEREAS INTLG S A SPON ADR PFD NEW 38045R206 453 29,287 SH   SOLE   0 29,287 0
GRUPO AEROPORTUARIO CTR NORT SPON ADR 400501102 512 10,758 SH   SOLE   0 10,758 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 504 3,303 SH   SOLE   0 3,303 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 1,181 415,729 SH   SOLE   0 415,729 0
HAWAIIAN HOLDINGS INC COM 419879101 1,446 55,069 SH   SOLE   0 55,069 0
JETBLUE AWYS CORP COM 477143101 1,986 118,538 SH   SOLE   0 118,538 0
KINROSS GOLD CORP COM 496902404 987 214,615 SH   SOLE   0 214,615 0
MESA AIR GROUP INC COM NEW 590479135 1,398 207,276 SH   SOLE   0 207,276 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 1,080 116,129 SH   SOLE   0 116,129 0
ROYAL GOLD INC COM 780287108 3,397 27,569 SH   SOLE   0 27,569 0
RYANAIR HLDGS PLC SPONSORED ADS 783513203 551 8,301 SH   SOLE   0 8,301 0
SANDSTORM GOLD LTD COM NEW 80013R206 1,364 241,875 SH   SOLE   0 241,875 0
SILVERCORP METALS INC COM 82835P103 1,302 334,611 SH   SOLE   0 334,611 0
SKYWEST INC COM 830879102 1,970 34,316 SH   SOLE   0 34,316 0
SOUTHWEST AIRLS CO COM 844741108 6,044 111,909 SH   SOLE   0 111,909 0
SPIRIT AIRLS INC COM 848577102 1,920 52,889 SH   SOLE   0 52,889 0
UNITED AIRLINES HLDGS INC COM 910047109 6,081 68,782 SH   SOLE   0 68,782 0
WHEATON PRECIOUS METALS CORP COM 962879102 3,225 122,908 SH   SOLE   0 122,908 0
ALIO GOLD INC COM 01627X108 434 700,000 SH   SOLE   0 700,000 0
AMERICAS GOLD AND SILVER COR COM 03062D100 1,000 400,000 SH   SOLE   0 400,000 0
AURYN RES INC COM 05208W108 907 750,000 SH   SOLE   0 750,000 0
BARRICK GOLD CORPORATION COM 067901108 1,164 67,200 SH   SOLE   0 67,200 0
EMX RTY CORP COM 26873J107 1,471 1,100,000 SH   SOLE   0 1,100,000 0
MAVERIX METALS INC COM NEW 57776F405 3,073 760,250 SH   SOLE   0 760,250 0
NORBORD INC COM NEW 65548P403 240 10,000 SH   SOLE   0 10,000 0
NUTRIEN LTD COM 67077M108 499 10,000 SH   SOLE   0 10,000 0
SILVERCREST METALS INC COM 828363101 2,610 500,000 SH   SOLE   0 500,000 0
TECK RESOURCES LTD CL B 878742204 406 25,000 SH   SOLE   0 25,000 0