Portola as of Dec. 31, 2011
Portfolio Holdings for Portola
Portola holds 0 positions in its portfolio as reported in the December 2011 quarterly 13F filing
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FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTORITY
NAME OF ISSUER TITLE OF CLASS CUSIP NO (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ----------- -------- -------- --------
ABBOTT LABORATORIES COM 002824100 859 15274 SH DEFINED 0 0 15274
ALEXANDER & BALDWIN INC COM 014482103 372 9102 SH DEFINED 0 0 9102
ALLIED NEVADA GOLD CORP COM 019344100 2189 72300 SH DEFINED 0 0 72300
ANGLOGOLD ASHANTI LTD ADR COM 035128206 2655 62550 SH DEFINED 0 0 62550
BANK OF HAWAII CORP COM 062540109 454 10204 SH DEFINED 0 0 10204
CENTRAL FUND OF CANADA LIMITED COM 153501101 8161 416150 SH DEFINED 0 0 416150
CHEVRON CORP NEW COM 166764100 218 2050 SH DEFINED 0 0 2050
COCA-COLA COMPANY COM 191216100 559 7983 SH DEFINED 0 0 7983
COEUR D'ALENE MINES CORP COM 192108504 8717 361120 SH DEFINED 0 0 361120
ETFS SILVER TRUST COM 26922X107 15594 566629 SH DEFINED 0 0 566629
ENDEAVOUR SILVER CORP COM 29258Y103 6908 711400 SH DEFINED 0 0 711400
EXXON MOBIL CORP (NEW) COM 30231G102 792 9346 SH DEFINED 0 0 9346
FIRST MAJESTIC SILVER CORP COM 32076V103 7796 462920 SH DEFINED 0 0 462920
GENERAC HOLDINGS INC COM 368736104 5078 181150 SH DEFINED 0 0 181150
GENERAL MOLY INC COM 370373102 1348 436100 SH DEFINED 0 0 436100
GENIE ENERGY LTD COM 372284208 1236 155900 SH DEFINED 0 0 155900
GLOBAL X SILVER MINERS ETF COM 37950E853 1348 63842 SH DEFINED 0 0 63842
GOLD FIELDS LTD ADS COM 38059T106 16992 1114242 SH DEFINED 0 0 1114242
GREAT BASIN GOLD LTD COM 390124105 346 379500 SH DEFINED 0 0 379500
HANSEN MEDICAL INC COM 411307101 852 330395 SH DEFINED 0 0 330395
HARDING INC COM 412324303 1878 233315 SH DEFINED 0 0 233315
HAWAIIAN ELECTRIC IND. INC. COM 419870100 248 9376 SH DEFINED 0 0 9376
HEADWATERS INC COM 42210P102 766 345150 SH DEFINED 0 0 345150
HECLA MNG CO COM 422704106 5448 1041589 SH DEFINED 0 0 1041589
IDT CORP COM 448947507 1703 181600 SH DEFINED 0 0 181600
IAMGOLD CORP COM 450913108 5650 356450 SH DEFINED 0 0 356450
JARDEN CORP COM 471109108 877 29350 SH DEFINED 0 0 29350
KINROSS GOLD CORP (NEW) COM 496902404 12115 1062700 SH DEFINED 0 0 1062700
MARKET VECTORS ETF TRJR GOLD MINES ETF 57060U589 4561 184650 SH DEFINED 0 0 184650
MCDONALDS CORP COM 580135101 3087 30770 SH DEFINED 0 0 30770
MICROMET INC COM 59509C105 4643 645750 SH DEFINED 0 0 645750
MINERA ANDES INC COM 602910101 306 204000 SH DEFINED 0 0 204000
NEW GOLD INC. COM 644535106 7373 731400 SH DEFINED 0 0 731400
NORTHERN OIL AND GAS INC COM 665531109 4981 207700 SH DEFINED 0 0 207700
OSISKO MINING CORP COM 688278100 928 95950 SH DEFINED 0 0 95950
PAN AMERICAN SILVER CORP COM 697900108 237 10850 SH DEFINED 0 0 10850
PARAMOUNT GOLD AND SILVER CORP COM 69924P102 1512 706610 SH DEFINED 0 0 706610
PARKER DRILLING CO COM 701081101 1881 262300 SH DEFINED 0 0 262300
ULTRASHORT LEHMAN 20 YEAR TREASURY 74347R297 9944 550328 SH DEFINED 0 0 550328
PROSHS ULTRASHRT S^P 500 PROSHARES TRUST 74347R883 19483 1010050 SH DEFINED 0 0 1010050
ULTRASHORT FTSE/XINHUA CHINA 25 PROSHARES 74347X567 5057 166500 SH DEFINED 0 0 166500
RANDGOLD RESOURCES LIMITED COM 752344309 7576 74200 SH DEFINED 0 0 74200
RARE ELEMENT RESOURCES LTD COM 75381M102 1157 356120 SH DEFINED 0 0 356120
SEABRIDGE GOLD INC COM 811916105 5929 368040 SH DEFINED 0 0 368040
SPROTT PHYSICAL GOLDTR UNITS COM 85207H104 29911 2161189 SH DEFINED 0 0 2161189
SPROTT PHYSICAL SILVER TRUST COM 85207K107 23002 1712750 SH DEFINED 0 0 1712750
STARBUCKS CORPORATION COM 855244109 202 4400 SH DEFINED 0 0 4400
STATOILHYDRO ASA - SPON ADR COM 85771P102 11914 465200 SH DEFINED 0 0 465200
STILLWATER MINING CO. COM 86074Q102 5887 562850 SH DEFINED 0 0 562850
SWIFT ENERGY CO COM 870738101 12585 423450 SH DEFINED 0 0 423450
TANZANIAN ROYALTY EXPLORATION CORPORATION 87600U104 360 150000 SH DEFINED 0 0 150000
TASEKO MINES LTD COM 876511106 592 216950 SH DEFINED 0 0 216950
TITAN MACHINERY INC. COM 88830R101 2991 137655 SH DEFINED 0 0 137655
US GOLD CORP COM 912023207 3003 893650 SH DEFINED 0 0 893650
YAMANA GOLD INC COM 98462Y100 20877 1421195 SH DEFINED 0 0 1421195
COVIDIEN PLC COM G2554F105 288 6397 SH DEFINED 0 0 6397
WEATHERFORD INTERNATION LTD COM H27013103 7280 497250 SH DEFINED 0 0 497250
TYCO INTERNATIONAL LTD COM H89128104 356 7617 SH DEFINED 0 0 7617
SODASTREAM INTERNATIONAL COM M9068E105 5951 182050 SH DEFINED 0 0 182050