| Stock | 99.53% |
| Cash | 0.09% |
| Other* | 0.38% |
Holdings Detail as of 5/16/2013 (Holdings subject to change)
| Symbol | Name |
% Net Assets |
Market Value ($) |
ISIN | Market | Sector |
Exchange Rate |
|---|---|---|---|---|---|---|---|
| BHP | BHP BILLITON LTD | 6.12 | $26,490,591 | AU000000BHP4 | XASX | Metals & Mining | 1.01 |
| BAS | BASF SE | 5.03 | $21,778,677 | DE000BASF111 | XETR | Chemicals | 0.77 |
| BLT | BHP BILLITON PLC | 3.54 | $15,315,631 | GB0000566504 | XLON | Metals & Mining | 0.65 |
| MON | MONSANTO CO | 3.30 | $14,305,036 | US61166W1018 | XNYS | Chemicals | 1.00 |
| GLEN | GLENCORE XSTRATA PLC | 3.27 | $14,150,076 | JE00B4T3BW64 | XLON | Metals & Mining | 0.65 |
| RIO | RIO TINTO PLC | 3.09 | $13,404,788 | GB0007188757 | XLON | Metals & Mining | 0.65 |
| DD | DU PONT (E.I.) DE NEMOURS | 2.97 | $12,857,144 | US2635341090 | XNYS | Chemicals | 1.00 |
| DOW | DOW CHEMICAL CO/THE | 2.42 | $10,490,056 | US2605431038 | XNYS | Chemicals | 1.00 |
| SYNN | SYNGENTA AG-REG | 2.21 | $9,570,088 | CH0011037469 | XVTX | Chemicals | 0.96 |
| AI | AIR LIQUIDE SA | 2.20 | $9,550,192 | FR0000120073 | XPAR | Chemicals | 0.77 |
| POT | POTASH CORP OF SASKATCHEWAN | 2.18 | $9,437,491 | CA73755L1076 | XTSE | Chemicals | 1.02 |
| LIN | LINDE AG | 2.08 | $9,030,541 | DE0006483001 | XETR | Chemicals | 0.77 |
| PX | PRAXAIR INC | 1.93 | $8,371,932 | US74005P1049 | XNYS | Chemicals | 1.00 |
| AAL | ANGLO AMERICAN PLC | 1.89 | $8,170,241 | GB00B1XZS820 | XLON | Metals & Mining | 0.65 |
| VALE/P | VALE SA-SP PREF ADR | 1.77 | $7,667,956 | US91912E2046 | XNYS | Metals & Mining | 1.00 |
| FCX | FREEPORT-MCMORAN COPPER | 1.75 | $7,559,389 | US35671D8570 | XNYS | Metals & Mining | 1.00 |
| 4063 | SHIN-ETSU CHEMICAL CO LTD | 1.58 | $6,845,822 | JP3371200001 | XTKS | Chemicals | 101.96 |
| LYB | LYONDELLBASELL INDU-CL A | 1.44 | $6,225,579 | NL0009434992 | XNYS | Chemicals | 1.00 |
| 5401 | NIPPON STEEL & SUMITOMO META | 1.42 | $6,131,933 | JP3381000003 | XTKS | Metals & Mining | 101.96 |
| 005490 | POSCO | 1.36 | $5,894,921 | KR7005490008 | XKRX | Metals & Mining | 1116.50 |
| RIO | RIO TINTO LTD | 1.34 | $5,822,560 | AU000000RIO1 | XASX | Metals & Mining | 1.01 |
| ECL | ECOLAB INC | 1.34 | $5,804,983 | US2788651006 | XNYS | Chemicals | 1.00 |
| PPG | PPG INDUSTRIES INC | 1.27 | $5,518,603 | US6935061076 | XNYS | Chemicals | 1.00 |
| G | GOLDCORP INC | 1.25 | $5,434,416 | CA3809564097 | XTSE | Metals & Mining | 1.02 |
| IP | INTERNATIONAL PAPER CO | 1.20 | $5,178,643 | US4601461035 | XNYS | Paper & Forest Products | 1.00 |
| ABX | BARRICK GOLD CORP | 1.11 | $4,802,534 | CA0679011084 | XTSE | Metals & Mining | 1.02 |
| APD | AIR PRODUCTS & CHEMICALS INC | 1.10 | $4,767,636 | US0091581068 | XNYS | Chemicals | 1.00 |
| HOLN | HOLCIM LTD-REG | 1.06 | $4,588,054 | CH0012214059 | XVTX | Construction Materials | 0.96 |
| MOS | MOSAIC CO/THE | 0.97 | $4,193,368 | US61945C1036 | XNYS | Chemicals | 1.00 |
| SHW | SHERWIN-WILLIAMS CO/THE | 0.93 | $4,021,877 | US8243481061 | XNYS | Chemicals | 1.00 |
| NEM | NEWMONT MINING CORP | 0.90 | $3,877,519 | US6516391066 | XNYS | Metals & Mining | 1.00 |
| CRH | CRH PLC | 0.89 | $3,847,645 | IE0001827041 | XDUB | Construction Materials | 0.77 |
| AKZA | AKZO NOBEL | 0.87 | $3,771,173 | NL0000009132 | XAMS | Chemicals | 0.77 |
| NUE | NUCOR CORP | 0.82 | $3,533,875 | US6703461052 | XNYS | Metals & Mining | 1.00 |
| CEMEXCPO | CEMEX SAB-CPO | 0.81 | $3,496,665 | MXP225611567 | XMEX | Construction Materials | 12.23 |
| AGU | AGRIUM INC | 0.77 | $3,352,290 | CA0089161081 | XTSE | Chemicals | 1.02 |
| TCK/B | TECK RESOURCES LTD-CLS B | 0.75 | $3,240,822 | CA8787422044 | XTSE | Metals & Mining | 1.02 |
| 1303 | NAN YA PLASTICS CORP | 0.75 | $3,235,519 | TW0001303006 | XTAI | Chemicals | 29.95 |
| LG | LAFARGE SA | 0.74 | $3,221,047 | FR0000120537 | XPAR | Construction Materials | 0.77 |
| MT | ARCELORMITTAL | 0.70 | $3,030,039 | LU0323134006 | XAMS | Metals & Mining | 0.77 |
| 3402 | TORAY INDUSTRIES INC | 0.69 | $2,980,453 | JP3621000003 | XTKS | Chemicals | 101.96 |
| CF | CF INDUSTRIES HOLDINGS INC | 0.69 | $2,979,896 | US1252691001 | XNYS | Chemicals | 1.00 |
| AMC | AMCOR LIMITED | 0.68 | $2,966,249 | AU000000AMC4 | XASX | Containers & Packaging | 1.01 |
| 1301 | FORMOSA PLASTICS CORP | 0.67 | $2,909,518 | TW0001301000 | XTAI | Chemicals | 29.95 |
| DSM | KONINKLIJKE DSM NV | 0.66 | $2,840,653 | NL0000009827 | XAMS | Chemicals | 0.77 |
| 6988 | NITTO DENKO CORP | 0.65 | $2,830,110 | JP3684000007 | XTKS | Chemicals | 101.96 |
| 5411 | JFE HOLDINGS INC | 0.65 | $2,805,589 | JP3386030005 | XTKS | Metals & Mining | 101.96 |
| NCM | NEWCREST MINING LTD | 0.65 | $2,803,262 | AU000000NCM7 | XASX | Metals & Mining | 1.01 |
| EMN | EASTMAN CHEMICAL CO | 0.63 | $2,731,193 | US2774321002 | XNYS | Chemicals | 1.00 |
| FM | FIRST QUANTUM MINERALS LTD | 0.63 | $2,725,415 | CA3359341052 | XTSE | Metals & Mining | 1.02 |
| HEI | HEIDELBERGCEMENT AG | 0.63 | $2,717,275 | DE0006047004 | XETR | Construction Materials | 0.77 |
| 2002 | CHINA STEEL CORP | 0.60 | $2,594,262 | TW0002002003 | XTAI | Metals & Mining | 29.95 |
| GIVN | GIVAUDAN-REG | 0.59 | $2,558,482 | CH0010645932 | XVTX | Chemicals | 0.96 |
| SIAL | SIGMA-ALDRICH | 0.57 | $2,467,604 | US8265521018 | XNGS | Chemicals | 1.00 |
| 3407 | ASAHI KASEI CORP | 0.55 | $2,383,523 | JP3111200006 | XTKS | Chemicals | 101.96 |
| 1326 | FORMOSA CHEMICALS & FIBRE | 0.54 | $2,358,982 | TW0001326007 | XTAI | Chemicals | 29.95 |
| AA | ALCOA INC | 0.52 | $2,247,451 | US0138171014 | XNYS | Metals & Mining | 1.00 |
| SOLB | SOLVAY SA | 0.50 | $2,148,546 | BE0003470755 | XBRU | Chemicals | 0.77 |
| FMC | FMC CORP | 0.49 | $2,118,168 | US3024913036 | XNYS | Chemicals | 1.00 |
| NZYMB | NOVOZYMES A/S-B SHARES | 0.48 | $2,085,064 | DK0060336014 | XCSE | Chemicals | 5.77 |
| YRI | YAMANA GOLD INC | 0.48 | $2,065,597 | CA98462Y1007 | XTSE | Metals & Mining | 1.02 |
| ORI | ORICA LTD | 0.47 | $2,041,842 | AU000000ORI1 | XASX | Chemicals | 1.01 |
| JMAT | JOHNSON MATTHEY PLC | 0.47 | $2,025,586 | GB00B70FPS60 | XLON | Chemicals | 0.65 |
| 5713 | SUMITOMO METAL MINING CO LTD | 0.47 | $2,023,323 | JP3402600005 | XTKS | Metals & Mining | 101.96 |
| YAR | YARA INTERNATIONAL ASA | 0.47 | $2,019,150 | NO0010208051 | XOSL | Chemicals | 5.82 |
| SLW | SILVER WHEATON CORP | 0.46 | $1,994,301 | CA8283361076 | XTSE | Metals & Mining | 1.02 |
| TKA | THYSSENKRUPP AG | 0.43 | $1,875,262 | DE0007500001 | XETR | Metals & Mining | 0.77 |
| 4188 | MITSUBISHI CHEMICAL HOLDINGS | 0.43 | $1,861,514 | JP3897700005 | XTKS | Chemicals | 101.96 |
| SDF | K+S AG-REG | 0.42 | $1,818,887 | DE000KSAG888 | XETR | Chemicals | 0.77 |
| VMC | VULCAN MATERIALS CO | 0.41 | $1,758,174 | US9291601097 | XNYS | Construction Materials | 1.00 |
| RRS | RANDGOLD RESOURCES LTD | 0.39 | $1,709,107 | GB00B01C3S32 | XLON | Metals & Mining | 0.65 |
| ARG | AIRGAS INC | 0.39 | $1,698,681 | US0093631028 | XNYS | Chemicals | 1.00 |
| BLL | BALL CORP | 0.38 | $1,665,206 | US0584981064 | XNYS | Containers & Packaging | 1.00 |
| IFF | INTL FLAVORS & FRAGRANCES | 0.38 | $1,647,670 | US4595061015 | XNYS | Chemicals | 1.00 |
| REX | REXAM PLC | 0.37 | $1,593,197 | GB00B943Z359 | XLON | Containers & Packaging | 0.65 |
| MWV | MEADWESTVACO CORP | 0.36 | $1,568,741 | US5833341077 | XNYS | Containers & Packaging | 1.00 |
| SCCO | SOUTHERN COPPER CORP | 0.36 | $1,540,796 | US84265V1052 | XNYS | Metals & Mining | 1.00 |
| K | KINROSS GOLD CORP | 0.35 | $1,533,136 | CA4969024047 | XTSE | Metals & Mining | 1.02 |
| 4005 | SUMITOMO CHEMICAL CO LTD | 0.34 | $1,493,772 | JP3401400001 | XTKS | Chemicals | 101.96 |
| GGB | GERDAU SA -SPON ADR | 0.34 | $1,477,285 | US3737371050 | XNYS | Metals & Mining | 1.00 |
| FMG | FORTESCUE METALS GROUP LTD | 0.33 | $1,437,710 | AU000000FMG4 | XASX | Metals & Mining | 1.01 |
| LXS | LANXESS AG | 0.33 | $1,436,721 | DE0005470405 | XETR | Chemicals | 0.77 |
| UPM1V | UPM-KYMMENE OYJ | 0.33 | $1,431,478 | FI0009005987 | XHEL | Paper & Forest Products | 0.77 |
| 3405 | KURARAY CO LTD | 0.32 | $1,382,389 | JP3269600007 | XTKS | Chemicals | 101.96 |
| ANTO | ANTOFAGASTA PLC | 0.31 | $1,350,583 | GB0000456144 | XLON | Metals & Mining | 0.65 |
| UMI | UMICORE | 0.30 | $1,299,755 | BE0003884047 | XBRU | Chemicals | 0.77 |
| AEM | AGNICO EAGLE MINES LTD | 0.29 | $1,259,526 | CA0084741085 | XTSE | Metals & Mining | 1.02 |
| ELD | ELDORADO GOLD CORP | 0.29 | $1,243,007 | CA2849021035 | XTSE | Metals & Mining | 1.02 |
| IPL | INCITEC PIVOT LTD | 0.27 | $1,189,746 | AU000000IPL1 | XASX | Chemicals | 1.01 |
| OI | OWENS-ILLINOIS INC | 0.27 | $1,152,193 | US6907684038 | XNYS | Containers & Packaging | 1.00 |
| SEE | SEALED AIR CORP | 0.26 | $1,127,666 | US81211K1007 | XNYS | Containers & Packaging | 1.00 |
| 4185 | JSR CORP | 0.26 | $1,116,438 | JP3385980002 | XTKS | Chemicals | 101.96 |
| ILU | ILUKA RESOURCES LIMITED | 0.25 | $1,101,318 | AU000000ILU1 | XASX | Metals & Mining | 1.01 |
| 5711 | MITSUBISHI MATERIALS CORP | 0.25 | $1,084,013 | JP3903000002 | XTKS | Metals & Mining | 101.96 |
| SQM | QUIMICA Y MINERA CHIL-SP ADR | 0.25 | $1,079,232 | US8336351056 | XNYS | Chemicals | 1.00 |
| CMPC | EMPRESAS CMPC SA | 0.24 | $1,060,843 | CL0000001314 | XSGO | Paper & Forest Products | 478.90 |
| STERV | STORA ENSO OYJ-R SHS | 0.24 | $1,047,513 | FI0009005961 | XHEL | Paper & Forest Products | 0.77 |
| BMS | BEMIS COMPANY | 0.24 | $1,038,608 | US0814371052 | XNYS | Containers & Packaging | 1.00 |
| NHY | NORSK HYDRO ASA | 0.24 | $1,032,591 | NO0005052605 | XOSL | Metals & Mining | 5.82 |
| 3861 | OJI HOLDINGS CORP | 0.24 | $1,031,826 | JP3174410005 | XTKS | Paper & Forest Products | 101.96 |
| 5406 | KOBE STEEL LTD | 0.23 | $1,010,936 | JP3289800009 | XTKS | Metals & Mining | 101.96 |
| BOL | BOLIDEN AB | 0.23 | $992,531 | SE0000869646 | XSTO | Metals & Mining | 6.64 |
| CLN | CLARIANT AG-REG | 0.22 | $939,663 | CH0012142631 | XVTX | Chemicals | 0.96 |
| VOE | VOESTALPINE AG | 0.21 | $888,137 | AT0000937503 | WBAH | Metals & Mining | 0.77 |
| BVN | CIA DE MINAS BUENAVENTUR-ADR | 0.19 | $817,994 | US2044481040 | XNYS | Metals & Mining | 1.00 |
| CLF | CLIFFS NATURAL RESOURCES INC | 0.18 | $772,162 | US18683K1016 | XNYS | Metals & Mining | 1.00 |
| ATI | ALLEGHENY TECHNOLOGIES INC | 0.18 | $767,236 | US01741R1023 | XNYS | Metals & Mining | 1.00 |
| X | UNITED STATES STEEL CORP | 0.15 | $644,428 | US9129091081 | XNYS | Metals & Mining | 1.00 |
| 5901 | TOYO SEIKAN GROUP HOLDINGS L | 0.15 | $641,363 | JP3613400005 | XTKS | Containers & Packaging | 101.96 |
| SID | CIA SIDERURGICA NACL-SP ADR | 0.15 | $629,056 | US20440W1053 | XNYS | Metals & Mining | 1.00 |
| 4183 | MITSUI CHEMICALS INC | 0.14 | $620,302 | JP3888300005 | XTKS | Chemicals | 101.96 |
| 3401 | TEIJIN LTD | 0.14 | $598,362 | JP3544000007 | XTKS | Chemicals | 101.96 |
| IMG | IAMGOLD CORP | 0.11 | $463,784 | CA4509131088 | XTSE | Metals & Mining | 1.02 |
| LMI | LONMIN PLC | 0.10 | $441,654 | GB0031192486 | XLON | Metals & Mining | 0.65 |
| -- | BLACKROCK FDS III | 0.09 | $395,918 | -- | S-T Securities | 1.00 | |
| SZG | SALZGITTER AG | 0.09 | $382,988 | DE0006202005 | XETR | Metals & Mining | 0.77 |
| HOLMB | HOLMEN AB-B SHARES | 0.08 | $355,206 | SE0000109290 | XSTO | Paper & Forest Products | 6.64 |
| SSABA | SSAB AB-A SHARES | 0.07 | $323,134 | SE0000171100 | XSTO | Metals & Mining | 6.64 |
| ACX | ACERINOX SA | 0.07 | $286,475 | ES0132105018 | XMCE | Metals & Mining | 0.77 |
| CMPCOSA | EMPRESAS CMPC SA-RT | 0.00 | $9,769 | CL0000006719 | XSGO | Paper & Forest Products | 478.90 |

