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 STD PALLADIUM ETF TR PHYSCL PALLADM 003262102 3 15 SH   SOLE   0 15 0
AGNICO EAGLE MINES LTD COM 008474108 995 25,000 SH   SOLE   0 25,000 0
ALAMOS GOLD INC NEW COM CL A 011532108 1,000 200,000 SH   SOLE   0 200,000 0
ALLIANT ENERGY CORP COM 018802108 242 5,008 SH   SOLE   0 5,008 0
AMERICAN TOWER CORP NEW COM 03027X100 233 1,072 SH   SOLE   0 1,072 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 832 50,000 SH   SOLE   0 50,000 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 1,663 100,000 SH   SOLE   0 100,000 0
ATLANTICA YIELD PLC SHS G0751N103 669 30,000 SH   SOLE   0 30,000 0
AUTOMATIC DATA PROCESSING IN COM 053015103 267 1,950 SH   SOLE   0 1,950 0
BALL CORP COM 058498106 226 3,500 SH   SOLE   0 3,500 0
BARRICK GOLD CORPORATION COM 067901108 1,832 100,000 SH   SOLE   0 100,000 0
BHP GROUP LTD SPONSORED ADS 088606108 367 10,000 SH   SOLE   0 10,000 0
BONANZA CREEK ENERGY INC COM NEW 097793400 509 45,249 SH   SOLE   0 45,249 0
BROADCOM INC COM 11135F101 303 1,276 SH   SOLE   0 1,276 0
CANADIAN SOLAR INC COM 136635109 557 35,000 SH   SOLE   0 35,000 0
CATERPILLAR INC DEL COM 149123101 351 3,026 SH   SOLE   0 3,026 0
CDW CORP COM 12514G108 195 2,091 SH   SOLE   0 2,091 0
CF INDS HLDGS INC COM 125269100 272 10,000 SH   SOLE   0 10,000 0
SCHWAB CHARLES CORP COM 808513105 262 7,800 SH   SOLE   0 7,800 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 295 40,000 SH   SOLE   0 40,000 0
CINTAS CORP COM 172908105 207 1,195 SH   SOLE   0 1,195 0
CITIZENS FINANCIAL GROUP INC COM 174610105 113 6,001 SH   SOLE   0 6,001 0
CNOOC LIMITED SPONSORED ADR 126132109 414 4,000 SH   SOLE   0 4,000 0
COMFORT SYS USA INC COM 199908104 573 15,678 SH   SOLE   0 15,678 0
COMPANHIA PARANAENSE ENERG C SPON ADR PFD 20441B407 312 30,000 SH   SOLE   0 30,000 0
COMSTOCK MNG INC COM NEW 205750300 43 106,600 SH   SOLE   0 106,600 0
CORCEPT THERAPEUTICS INC COM 218352102 657 55,260 SH   SOLE   0 55,260 0
CORESITE RLTY CORP COM 21870Q105 581 5,011 SH   SOLE   0 5,011 0
COSTCO WHSL CORP NEW COM 22160K105 212 744 SH   SOLE   0 744 0
CROCS INC COM 227046109 372 21,915 SH   SOLE   0 21,915 0
CSG SYS INTL INC COM 126349109 549 13,115 SH   SOLE   0 13,115 0
DIREXION SHS ETF TR DAILY RUSSIA 3X DELETED 25460E828 350 38,500 SH   SOLE   0 38,500 0
DIREXION SHS ETF TR DL FTSE BLL 3X 25459W771 116 10,000 SH   SOLE   0 10,000 0
DIREXION SHS ETF TR DLY GOLD INDX 3X 25460E844 938 138,000 SH   SOLE   0 138,000 0
DIREXION SHS ETF TR DLY GOLD INDX 3X 25460E844 408 60,000 SH   SOLE   0 60,000 0
DMC GLOBAL INC COM 23291C103 262 11,378 SH   SOLE   0 11,378 0
D R HORTON INC COM 23331A109 191 5,631 SH   SOLE   0 5,631 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 540 100,000 SH   SOLE   0 100,000 0
DIREXION SHS ETF TR DAILY JR GLD MIN 25460E166 20 5,000 SH   SOLE   0 5,000 0
DIREXION SHS ETF TR DAILY JR GLD MIN 25460E166 278 70,000 SH   SOLE   0 70,000 0
DIREXION SHS ETF TR DAILY JR GLD MIN 25460E166 159 40,000 SH   SOLE   0 40,000 0
DXC TECHNOLOGY CO COM 23355L106 13 1,000 SH   SOLE   0 1,000 0
EATON VANCE CORP COM NON VTG 278265103 742 23,014 SH   SOLE   0 23,014 0
ECOPETROL S A SPONSORED ADS 279158109 285 30,000 SH   SOLE   0 30,000 0
ENERGY FUELS INC COM NEW 292671708 295 250,000 SH   SOLE   0 250,000 0
ENOVA INTL INC COM 29357K103 295 20,361 SH   SOLE   0 20,361 0
EOG RES INC COM COM 26875P101 104 2,902 SH   SOLE   0 2,902 0
LAUDER ESTEE COS INC CL A 518439104 281 1,764 SH   SOLE   0 1,764 0
EXELIXIS INC COM 30161Q104 703 40,814 SH   SOLE   0 40,814 0
FIFTH THIRD BANCORP COM 316773100 114 7,692 SH   SOLE   0 7,692 0
GLOBAL X FDS CLOBAL X URANIUM 37954Y871 5 600 SH   SOLE   0 600 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 1,188 250,000 SH   SOLE   0 250,000 0
GOLD STD VENTURES CORP COM 380738104 499 1,000,000 SH   SOLE   0 1,000,000 0
BARRICK GOLD CORPORATION COM 067901108 36 140 SH Call SOLE   0 140 0
BARRICK GOLD CORPORATION COM 067901108 93 360 SH Call SOLE   0 360 0
BARRICK GOLD CORPORATION COM 067901108 440 800 SH Call SOLE   0 800 0
BARRICK GOLD CORPORATION COM 067901108 908 1,650 SH Call SOLE   0 1,650 0
BARRICK GOLD CORPORATION COM 067901108 578 1,050 SH Call SOLE   0 1,050 0
GOLDEN STAR RES LTD CDA COM 38119T807 498 200,000 SH   SOLE   0 200,000 0
GREAT PANTHER MINING LIMITED COM 39115V101 308 1,000,000 SH   SOLE   0 1,000,000 0
HALLIBURTON CO COM 406216101 137 20,000 SH   SOLE   0 20,000 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 1,090 500,000 SH   SOLE   0 500,000 0
HAWAIIAN HOLDINGS INC COM 419879101 241 23,065 SH   SOLE   0 23,065 0
HCA HEALTHCARE INC COM 40412C101 164 1,821 SH   SOLE   0 1,821 0
HOME DEPOT INC COM 437076102 249 1,336 SH   SOLE   0 1,336 0
HOME DEPOT INC COM 437076102 1,432 7,667 SH   SOLE   0 7,667 0
HP INC COM 40434L105 269 15,483 SH   SOLE   0 15,483 0
HUNTINGTON INGALLS INDS INC COM 446413106 243 1,335 SH   SOLE   0 1,335 0
IAMGOLD CORP COM 450913108 1,140 500,000 SH   SOLE   0 500,000 0
IDEXX LABS INC COM 45168D104 660 2,725 SH   SOLE   0 2,725 0
INGEVITY CORP COM 45688C107 277 7,882 SH   SOLE   0 7,882 0
INGREDION INC COM 457187102 529 7,000 SH   SOLE   0 7,000 0
INTL PAPER CO COM 460146103 202 6,500 SH   SOLE   0 6,500 0
POWERSHARES DB MULTI-SECTOR AGRICULTURE FD 46140H106 53 3,800 SH   SOLE   0 3,800 0
KIRKLAND LAKE GOLD LTD COM 49741E100 296 10,000 SH   SOLE   0 10,000 0
KIRKLAND LAKE GOLD LTD COM 49741E100 2,664 90,000 SH   SOLE   0 90,000 0
KROGER CO COM 501044101 212 7,044 SH   SOLE   0 7,044 0
LGI HOMES INC COM 50187T106 344 7,614 SH   SOLE   0 7,614 0
LINCOLN ELEC HLDGS INC COM 533900106 535 7,757 SH   SOLE   0 7,757 0
LOUISIANA PAC CORP COM 546347105 172 10,000 SH   SOLE   0 10,000 0
MCDONALDS CORP COM 580135101 234 1,417 SH   SOLE   0 1,417 0
MERCK & CO. INC COM 58933Y105 241 3,133 SH   SOLE   0 3,133 0
MOBILE TELESYSTEMS PJSC SPONSORED ADR 607409109 138 18,200 SH   SOLE   0 18,200 0
MOSAIC CO NEW COM 61945C103 216 20,000 SH   SOLE   0 20,000 0
MSCI INC COM 55354G100 1,223 4,234 SH   SOLE   0 4,234 0
NEWMONT CORP COM 651639106 141 115 SH Call SOLE   0 115 0
NEWMONT CORP COM 651639106 185 150 SH Call SOLE   0 150 0
NEWMONT CORP COM COM 651639106 1,353 1,100 SH Call SOLE   0 1,100 0
NEWMONT CORP COM 651639106 62 50 SH Call SOLE   0 50 0
NEWMONT CORP COM 651639106 277 225 SH Call SOLE   0 225 0
NEWMARKET CORP COM 651587107 526 1,375 SH   SOLE   0 1,375 0
NEWMONT CORP COM 651639106 2,264 50,000 SH   SOLE   0 50,000 0
NIC INC COM 62914B100 608 26,434 SH   SOLE   0 26,434 0
NUCOR CORP COM COM 670346105 450 12,500 SH   SOLE   0 12,500 0
DIREXION SHS ETF TR DLY GOLD INDX 3X 25460E844 34 225 SH Call SOLE   0 225 0
DIREXION SHS ETF TR DLY GOLD INDX 3X 25460E844 79 525 SH Call SOLE   0 525 0
ORACLE CORP COM 68389X105 315 6,511 SH   SOLE   0 6,511 0
PAN AMERN SILVER CORP COM 697900108 1,791 125,000 SH   SOLE   0 125,000 0
PETMED EXPRESS INC COM 716382106 654 22,712 SH   SOLE   0 22,712 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 138 25,000 SH   SOLE   0 25,000 0
PHILLIPS 66 COM 718546104 349 6,500 SH   SOLE   0 6,500 0
POOL CORPORATION COM 73278L105 563 2,862 SH   SOLE   0 2,862 0
POSCO SPONSORED ADR 693483109 163 5,000 SH   SOLE   0 5,000 0
POTLATCHDELTIC CORPORATION COM 737630103 314 10,000 SH   SOLE   0 10,000 0
PRETIUM RES INC COM 74139C102 340 60,000 SH   SOLE   0 60,000 0
PRETIUM RES INC COM 74139C102 227 40,000 SH   SOLE   0 40,000 0
QIWI PLC SPON ADR REP B 74735M108 37 3,500 SH   SOLE   0 3,500 0
RAYONIER INC COM 754907103 118 5,000 SH   SOLE   0 5,000 0
RESOLUTE FST PRODS INC COM COM 76117W109 88 70,000 SH   SOLE   0 70,000 0
VANECK VECTORS ETF TR RUSSIA ETF RUSSIA ETF 92189F403 21 300 SH Put SOLE   0 300 0
S&P GLOBAL INC COM 78409V104 610 2,489 SH   SOLE   0 2,489 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 4 2,000 SH   SOLE   0 2,000 0
SANDSTORM GOLD LTD COM NEW 80013R206 451 90,000 SH   SOLE   0 90,000 0
SANDSTORM GOLD LTD COM NEW COM NEW 80013R206 3,257 650,000 SH   SOLE   0 650,000 0
SEABRIDGE GOLD INC COM 811916105 281 30,000 SH   SOLE   0 30,000 0
SHERWIN WILLIAMS CO COM 824348106 238 519 SH   SOLE   0 519 0
SILVERCORP METALS INC COM 82835P103 1,472 450,000 SH   SOLE   0 450,000 0
SSR MNG INC COM 784730103 1,423 125,000 SH   SOLE   0 125,000 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 464 25,814 SH   SOLE   0 25,814 0
TEMPUR SEALY INTL INC COM 88023U101 296 6,783 SH   SOLE   0 6,783 0
TEUCRIUM COMMODITY TR SOYBEAN FD 88166A607 26 1,837 SH   SOLE   0 1,837 0
TOTAL S.A. SPONSORED ADS 89151E109 745 20,000 SH   SOLE   0 20,000 0
TRACTOR SUPPLY CO COM 892356106 305 3,602 SH   SOLE   0 3,602 0
UNITEDHEALTH GROUP INC COM 91324P102 245 981 SH   SOLE   0 981 0
UNIVERSAL HLTH SVCS INC CL B CL B 913903100 201 2,028 SH   SOLE   0 2,028 0
UNITED STS NAT GAS FD LP UNIT PAR 912318300 44 3,500 SH   SOLE   0 3,500 0
USANA HEALTH SCIENCES INC COM 90328M107 426 7,369 SH   SOLE   0 7,369 0
VALERO ENERGY CORP COM 91913Y100 340 7,500 SH   SOLE   0 7,500 0
VANECK VECTORS ETF TR AMT FREE INT ETF AMT FREE INT ETF 92189H201 1,474 30,000 SH   SOLE   0 30,000 0
VANECK VECTORS ETF TR AMT FREE LONG MU 92189F536 1,430 70,000 SH   SOLE   0 70,000 0
VANECK VECTORS ETF TR AMT FREE SHORT M 92189F528 1,477 85,000 SH   SOLE   0 85,000 0
VANECK VECTORS ETF TR GOLD MINERS ETF GOLD MINERS ETF 92189F106 9 400 SH   SOLE   0 400 0
VANGUARD SCOTTSDALE FDS SHORT TERM TREAS 92206C102 2,020 32,400 SH   SOLE   0 32,400 0
VISA INC COM CL A 92826C839 230 1,425 SH   SOLE   0 1,425 0
WD-40 CO COM 929236107 797 3,968 SH   SOLE   0 3,968 0
WELLS FARGO CO NEW COM 949746101 154 5,358 SH   SOLE   0 5,358 0
WHEATON PRECIOUS METALS CORP COM 962879102 826 30,000 SH   SOLE   0 30,000 0
WHEATON PRECIOUS METALS CORP COM 962879102 4,130 150,000 SH   SOLE   0 150,000 0
SELECT SECTOR SPDR TR ENERGY TR ENERGY 81369Y506 0 225 SH Call SOLE   0 225 0
YAMANA GOLD INC COM 98462Y100 1,031 375,000 SH   SOLE   0 375,000 0
YANDEX N V SHS CLASS A N97284108 44 1,300 SH   SOLE   0 1,300 0
AIR TRANSPORT SERVICES GRP I COM 00922R105 15,037 822,576 SH   SOLE   0 822,576 0
ALAMOS GOLD INC NEW COM CL A 011532108 1,325 265,000 SH   SOLE   0 265,000 0
ALASKA AIR GROUP INC COM 011659109 11,003 386,464 SH   SOLE   0 386,464 0
ALLEGIANT TRAVEL CO COM 01748X102 11,220 137,158 SH   SOLE   0 137,158 0
AMERICAN AIRLS GROUP INC COM 02376R102 38,167 3,131,001 SH   SOLE   0 3,131,001 0
AZUL S A SPONSR ADR PFD 05501U106 2,049 201,123 SH   SOLE   0 201,123 0
B2GOLD CORP COM 11777Q209 1,204 393,342 SH   SOLE   0 393,342 0
CONTROLADORA VUELA CIA DE AV SPON ADR RP 10 21240E105 2,108 614,571 SH   SOLE   0 614,571 0
COPA HOLDINGS SA CL A 000000000 3,078 67,959 SH   SOLE   0 67,959 0
DELTA AIR LINES INC DEL COM NEW 247361702 33,614 1,178,195 SH   SOLE   0 1,178,195 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 946 175,260 SH   SOLE   0 175,260 0
ELDORADO GOLD CORP NEW COM 284902509 1,203 195,000 SH   SOLE   0 195,000 0
FRANCO NEVADA CORP COM 351858105 4,965 49,891 SH   SOLE   0 49,891 0
GENERAL DYNAMICS CORP COM 369550108 11,285 85,291 SH   SOLE   0 85,291 0
GOL LINHAS AEREAS INTLG S A SPON ADR PFD NEW 38045R206 3,321 777,657 SH   SOLE   0 777,657 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 1,192 250,958 SH   SOLE   0 250,958 0
GRUPO AEROPORTUARIO DEL CENT SPON ADR 400501102 2,512 93,235 SH   SOLE   0 93,235 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 982 450,483 SH   SOLE   0 450,483 0
HAWAIIAN HOLDINGS INC COM 419879101 8,048 770,905 SH   SOLE   0 770,905 0
IAMGOLD CORP COM 450913108 1,791 785,551 SH   SOLE   0 785,551 0
JETBLUE AWYS CORP COM 477143101 10,906 1,218,499 SH   SOLE   0 1,218,499 0
KINROSS GOLD CORP COM 496902404 1,654 415,545 SH   SOLE   0 415,545 0
MESA AIR GROUP INC COM NEW 590479135 8,348 2,537,400 SH   SOLE   0 2,537,400 0
ROYAL GOLD INC COM 780287108 4,849 55,282 SH   SOLE   0 55,282 0
RYANAIR HOLDINGS PLC SPONSORED ADS 783513203 3,181 59,916 SH   SOLE   0 59,916 0
SANDSTORM GOLD LTD COM NEW 80013R206 1,898 378,841 SH   SOLE   0 378,841 0
SKYWEST INC COM 830879102 12,425 474,415 SH   SOLE   0 474,415 0
SOUTHWEST AIRLS CO COM 844741108 41,741 1,172,172 SH   SOLE   0 1,172,172 0
SPIRIT AIRLS INC COM 848577102 10,355 803,356 SH   SOLE   0 803,356 0
UNITED AIRLS HLDGS INC COM 910047109 32,144 1,018,838 SH   SOLE   0 1,018,838 0
WHEATON PRECIOUS METALS CORP COM 962879102 5,035 182,876 SH   SOLE   0 182,876 0
YAMANA GOLD INC COM 98462Y100 1,100 400,000 SH   SOLE   0 400,000 0
ALIO GOLD INC COM 01627X108 348 700,000 SH   SOLE   0 700,000 0
AMERICAS GOLD AND SILVER COR COM 03062D100 608 400,000 SH   SOLE   0 400,000 0
EMX RTY CORP COM 26873J107 1,485 1,100,000 SH   SOLE   0 1,100,000 0
MAVERIX METALS INC COM NEW 57776F405 2,500 750,000 SH   SOLE   0 750,000 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 634 150,000 SH   SOLE   0 150,000 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 1,374 325,000 SH   SOLE   0 325,000 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 793 187,500 SH   SOLE   0 187,500 0
NORBORD INC COM NEW 65548P403 118 10,000 SH   SOLE   0 10,000 0
NUTRIEN LTD COM 67077M108 342 10,000 SH   SOLE   0 10,000 0
PLATINUM GROUP METALS LTD COM 72765Q882 463 350,000 SH   SOLE   0 350,000 0
SILVERCREST METALS INC COM 828363101 2,075 400,000 SH   SOLE   0 400,000 0
TECK RESOURCES LTD CL B 878742204 190 25,000 SH   SOLE   0 25,000 0