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
AGCO CORP COM 001084102 3,225 22,450 SH   SOLE   22,450 0 0
AGNICO EAGLE MINES LTD COM 008474108 338 5,845 SH   SOLE   5,845 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 2,363 302,518 SH   SOLE   302,518 0 0
ALCOA CORP COM 013872106 7,223 222,319 SH   SOLE   222,319 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 1,131 53,697 SH   SOLE   53,697 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 2,604 17,371 SH   SOLE   17,371 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 1,693 77,038 SH   SOLE   77,038 0 0
APA CORPORATION COM 03743Q108 672 37,562 SH   SOLE   37,562 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203 1,201 41,161 SH   SOLE   41,161 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 1,706 29,937 SH   SOLE   29,937 0 0
ARCHROCK INC COM 03957W106 800 84,317 SH   SOLE   84,317 0 0
B2GOLD CORP COM 11777Q209 3,552 824,051 SH   SOLE   824,051 0 0
BAKER HUGHES COMPANY CL A 05722G100 1,308 60,505 SH   SOLE   60,505 0 0
BALLARD PWR SYS INC NEW COM 058586108 2,174 89,329 SH   SOLE   89,329 0 0
BARRICK GOLD CORP COM 067901108 861 43,481 SH   SOLE   43,481 0 0
BEYOND MEAT INC COM 08862E109 704 5,411 SH   SOLE   5,411 0 0
BP PLC SPONSORED ADR 055622104 3,320 136,363 SH   SOLE   136,363 0 0
BRF SA SPONSORED ADR 10552T107 1,412 314,552 SH   SOLE   314,552 0 0
BUNGE LIMITED COM G16962105 5,378 67,850 SH   SOLE   67,850 0 0
CABOT OIL & GAS CORP COM 127097103 1,239 65,966 SH   SOLE   65,966 0 0
CALIFORNIA WTR SVC GROUP COM 130788102 546 9,700 SH   SOLE   9,700 0 0
CAL MAINE FOODS INC COM NEW 128030202 853 22,199 SH   SOLE   22,199 0 0
CAMECO CORP COM 13321L108 1,219 73,362 SH   SOLE   73,362 0 0
CANADIAN NAT RES LTD COM 136385101 328 10,631 SH   SOLE   10,631 0 0
CANADIAN SOLAR INC COM 136635109 3,414 68,783 SH   SOLE   68,783 0 0
CENTURY ALUM CO COM 156431108 596 33,741 SH   SOLE   33,741 0 0
CF INDS HLDGS INC COM 125269100 9,205 202,848 SH   SOLE   202,848 0 0
CHAMPIONX CORPORATION COM 15872M104 1,243 57,215 SH   SOLE   57,215 0 0
CHEVRON CORP NEW COM 166764100 2,012 19,205 SH   SOLE   19,205 0 0
CHINA PETROLEUM & CHEMICAL C SPON ADR H SHS 16941R108 326 6,182 SH   SOLE   6,182 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 367 36,564 SH   SOLE   36,564 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 981 133,794 SH   SOLE   133,794 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101 790 39,276 SH   SOLE   39,276 0 0
CNH INDL N V SHS N20944109 1,827 116,789 SH   SOLE   116,789 0 0
COMMERCIAL METALS CO COM 201723103 3,713 120,408 SH   SOLE   120,408 0 0
COMPASS MINERALS INTL INC COM 20451N101 882 14,069 SH   SOLE   14,069 0 0
CONOCOPHILLIPS COM 20825C104 3,132 59,128 SH   SOLE   59,128 0 0
CONSTELLIUM SE CL A SHS F21107101 601 40,866 SH   SOLE   40,866 0 0
CONTINENTAL RES INC COM 212015101 839 32,450 SH   SOLE   32,450 0 0
CORE LABORATORIES N V COM N22717107 1,877 65,210 SH   SOLE   65,210 0 0
CORTEVA INC COM 22052L104 4,943 106,037 SH   SOLE   106,037 0 0
CRESCENT PT ENERGY CORP COM 22576C101 538 129,100 SH   SOLE   129,100 0 0
DAQO NEW ENERGY CORP SPNSRD ADS NEW 23703Q203 210 2,775 SH   SOLE   2,775 0 0
DARLING INGREDIENTS INC COM 237266101 3,288 44,692 SH   SOLE   44,692 0 0
DEERE & CO COM 244199105 3,213 8,587 SH   SOLE   8,587 0 0
DEVON ENERGY CORP NEW COM 25179M103 1,030 47,161 SH   SOLE   47,161 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 288 30,444 SH   SOLE   30,444 0 0
DRIL-QUIP INC COM 262037104 251 7,543 SH   SOLE   7,543 0 0
ECOPETROL S A SPONSORED ADS 279158109 1,112 86,750 SH   SOLE   86,750 0 0
ENI S P A SPONSORED ADR 26874R108 317 12,822 SH   SOLE   12,822 0 0
ENPHASE ENERGY INC COM 29355A107 2,650 16,339 SH   SOLE   16,339 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 261 11,871 SH   SOLE   11,871 0 0
EOG RES INC COM 26875P101 723 9,974 SH   SOLE   9,974 0 0
EQT CORP COM 26884L109 191 10,276 SH   SOLE   10,276 0 0
ESSENTIAL UTILS INC COM 29670G102 700 15,647 SH   SOLE   15,647 0 0
EVOQUA WATER TECHNOLOGIES CO COM 30057T105 1,265 48,098 SH   SOLE   48,098 0 0
EXXON MOBIL CORP COM 30231G102 1,372 24,578 SH   SOLE   24,578 0 0
FIRST SOLAR INC COM 336433107 904 10,355 SH   SOLE   10,355 0 0
FMC CORP COM NEW 302491303 4,705 42,539 SH   SOLE   42,539 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,041 31,623 SH   SOLE   31,623 0 0
FRESH DEL MONTE PRODUCE INC ORD G36738105 579 20,240 SH   SOLE   20,240 0 0
GERDAU SA SPON ADR REP PFD 373737105 3,704 693,663 SH   SOLE   693,663 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 3,350 353,028 SH   SOLE   353,028 0 0
GREEN PLAINS INC COM 393222104 547 20,215 SH   SOLE   20,215 0 0
HALLIBURTON CO COM 406216101 2,265 105,534 SH   SOLE   105,534 0 0
HARSCO CORP COM 415864107 370 21,595 SH   SOLE   21,595 0 0
HELIX ENERGY SOLUTIONS GRP I COM 42330P107 394 77,922 SH   SOLE   77,922 0 0
HELMERICH & PAYNE INC COM 423452101 3,300 122,388 SH   SOLE   122,388 0 0
HOLLYFRONTIER CORP COM 436106108 845 23,615 SH   SOLE   23,615 0 0
HORMEL FOODS CORP COM 440452100 2,592 54,241 SH   SOLE   54,241 0 0
HUDBAY MINERALS INC COM 443628102 1,591 232,500 SH   SOLE   232,500 0 0
IAMGOLD CORP COM 450913108 487 163,577 SH   SOLE   163,577 0 0
INGREDION INC COM 457187102 4,128 45,903 SH   SOLE   45,903 0 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100 1,347 32,304 SH   SOLE   32,304 0 0
KINROSS GOLD CORP COM 496902404 3,370 505,200 SH   SOLE   505,200 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 3,471 102,823 SH   SOLE   102,823 0 0
LITHIUM AMERS CORP NEW COM NEW 53680Q207 269 16,766 SH   SOLE   16,766 0 0
LIVENT CORP COM 53814L108 2,487 143,614 SH   SOLE   143,614 0 0
MAGNOLIA OIL & GAS CORP CL A 559663109 1,186 103,311 SH   SOLE   103,311 0 0
MARATHON OIL CORP COM 565849106 1,869 175,010 SH   SOLE   175,010 0 0
MARATHON PETE CORP COM 56585A102 1,397 26,118 SH   SOLE   26,118 0 0
MOSAIC CO NEW COM 61945C103 3,733 118,080 SH   SOLE   118,080 0 0
MURPHY OIL CORP COM 626717102 1,676 102,126 SH   SOLE   102,126 0 0
NEWMONT CORP COM 651639106 1,809 30,011 SH   SOLE   30,011 0 0
NOV INC COM 62955J103 1,347 98,146 SH   SOLE   98,146 0 0
NUTRIEN LTD COM 67077M108 4,255 79,004 SH   SOLE   79,004 0 0
OCCIDENTAL PETE CORP COM 674599105 539 20,247 SH   SOLE   20,247 0 0
OCEANEERING INTL INC COM 675232102 367 32,148 SH   SOLE   32,148 0 0
OVINTIV INC COM 69047Q102 327 13,748 SH   SOLE   13,748 0 0
PATTERSON-UTI ENERGY INC COM 703481101 1,429 200,443 SH   SOLE   200,443 0 0
PDC ENERGY INC COM 69327R101 2,997 87,125 SH   SOLE   87,125 0 0
PENTAIR PLC SHS G7S00T104 5,425 87,052 SH   SOLE   87,052 0 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 341 9,421 SH   SOLE   9,421 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 1,872 220,778 SH   SOLE   220,778 0 0
PHILLIPS 66 COM 718546104 732 8,982 SH   SOLE   8,982 0 0
PILGRIMS PRIDE CORP COM 72147K108 1,770 74,408 SH   SOLE   74,408 0 0
PIONEER NAT RES CO COM 723787107 590 3,714 SH   SOLE   3,714 0 0
PLUG POWER INC COM NEW 72919P202 4,928 137,505 SH   SOLE   137,505 0 0
POSCO SPONSORED ADR 693483109 517 7,156 SH   SOLE   7,156 0 0
POTLATCHDELTIC CORPORATION COM 737630103 983 18,580 SH   SOLE   18,580 0 0
PRETIUM RES INC COM 74139C102 928 89,472 SH   SOLE   89,472 0 0
PROPETRO HLDG CORP COM 74347M108 1,300 121,996 SH   SOLE   121,996 0 0
SOCIEDAD QUIMICA Y MINERA DE RIGHT 04/19/2021 833636111 58 18,774 SH   SOLE   18,774 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 5,326 100,356 SH   SOLE   100,356 0 0
RAYONIER INC COM 754907103 1,173 36,374 SH   SOLE   36,374 0 0
RIO TINTO PLC SPONSORED ADR 767204100 2,976 38,332 SH   SOLE   38,332 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 2,660 67,828 SH   SOLE   67,828 0 0
ROYAL GOLD INC COM 780287108 1,877 17,440 SH   SOLE   17,440 0 0
RPC INC COM 749660106 809 149,824 SH   SOLE   149,824 0 0
SANDERSON FARMS INC COM 800013104 2,436 15,636 SH   SOLE   15,636 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 273 40,082 SH   SOLE   40,082 0 0
SCHLUMBERGER LTD COM 806857108 2,342 86,137 SH   SOLE   86,137 0 0
SILVERCORP METALS INC COM 82835P103 240 48,844 SH   SOLE   48,844 0 0
SOLAREDGE TECHNOLOGIES INC COM 83417M104 1,465 5,098 SH   SOLE   5,098 0 0
SOUTHERN COPPER CORP COM 84265V105 3,001 44,223 SH   SOLE   44,223 0 0
SOUTHWESTERN ENERGY CO COM 845467109 319 68,523 SH   SOLE   68,523 0 0
SSR MNG INC COM 784730103 566 39,637 SH   SOLE   39,637 0 0
STEEL DYNAMICS INC COM 858119100 1,065 20,974 SH   SOLE   20,974 0 0
SUNCOKE ENERGY INC COM 86722A103 210 29,958 SH   SOLE   29,958 0 0
SUNPOWER CORP COM 867652406 1,486 44,417 SH   SOLE   44,417 0 0
TECK RESOURCES LTD CL B 878742204 3,831 199,764 SH   SOLE   199,764 0 0
TENARIS S A SPONSORED ADS 88031M109 1,074 47,326 SH   SOLE   47,326 0 0
TERNIUM SA SPONSORED ADS 880890108 1,107 28,497 SH   SOLE   28,497 0 0
TOTAL SE SPONSORED ADS 89151E109 1,608 34,552 SH   SOLE   34,552 0 0
TPI COMPOSITES INC COM 87266J104 1,381 24,474 SH   SOLE   24,474 0 0
TRANSOCEAN LTD REG SHS H8817H100 300 84,415 SH   SOLE   84,415 0 0
TYSON FOODS INC CL A 902494103 3,553 47,819 SH   SOLE   47,819 0 0
UNITED STATES STL CORP NEW COM 912909108 2,238 85,533 SH   SOLE   85,533 0 0
VALE S A SPONSORED ADS 91912E105 5,609 322,703 SH   SOLE   322,703 0 0
VALERO ENERGY CORP COM 91913Y100 1,213 16,941 SH   SOLE   16,941 0 0
VEDANTA LIMITED SPONSORED ADR 92242Y100 880 69,983 SH   SOLE   69,983 0 0
WARRIOR MET COAL INC COM 93627C101 227 13,255 SH   SOLE   13,255 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 2,106 55,120 SH   SOLE   55,120 0 0
YAMANA GOLD INC COM 98462Y100 769 177,095 SH   SOLE   177,095 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 327 79,605 SH   SOLE   79,605 0 0