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
ADECOAGRO S A COM L00849106 1,058 137,739 SH   SOLE   137,739 0 0
AGCO CORP COM 001084102 6,457 55,658 SH   SOLE   55,658 0 0
AGNICO EAGLE MINES LTD COM 008474108 4,465 84,014 SH   SOLE   84,014 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 4,430 576,018 SH   SOLE   576,018 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 575 36,112 SH   SOLE   36,112 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 2,268 12,009 SH   SOLE   12,009 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 308 14,695 SH   SOLE   14,695 0 0
APA CORPORATION COM 03743Q108 2,220 82,546 SH   SOLE   82,546 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203 543 17,058 SH   SOLE   17,058 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 1,908 28,230 SH   SOLE   28,230 0 0
ARCHROCK INC COM 03957W106 664 88,801 SH   SOLE   88,801 0 0
ARCONIC CORPORATION COM 03966V107 683 20,697 SH   SOLE   20,697 0 0
ARRAY TECHNOLOGIES INC COM SHS 04271T100 606 38,624 SH   SOLE   38,624 0 0
ATLANTICA SUSTAINABLE INFR P SHS G0751N103 2,794 78,130 SH   SOLE   78,130 0 0
B2GOLD CORP COM 11777Q209 6,536 1,663,116 SH   SOLE   1,663,116 0 0
BAKER HUGHES COMPANY CL A 05722G100 1,002 41,635 SH   SOLE   41,635 0 0
BALLARD PWR SYS INC NEW COM 058586108 2,423 192,951 SH   SOLE   192,951 0 0
BARRICK GOLD CORP COM 067901108 1,045 54,990 SH   SOLE   54,990 0 0
BP PLC SPONSORED ADR 055622104 3,516 132,050 SH   SOLE   132,050 0 0
BRF SA SPONSORED ADR 10552T107 3,491 853,629 SH   SOLE   853,629 0 0
BUNGE LIMITED COM G16962105 7,117 76,231 SH   SOLE   76,231 0 0
CAL MAINE FOODS INC COM NEW 128030202 1,131 30,564 SH   SOLE   30,564 0 0
CALIFORNIA RES CORP COM STOCK 13057Q305 351 8,229 SH   SOLE   8,229 0 0
CALIFORNIA WTR SVC GROUP COM 130788102 953 13,268 SH   SOLE   13,268 0 0
CALLON PETE CO DEL COM 13123X508 819 17,325 SH   SOLE   17,325 0 0
CAMECO CORP COM 13321L108 1,145 52,479 SH   SOLE   52,479 0 0
CANADIAN NAT RES LTD COM 136385101 3,037 71,888 SH   SOLE   71,888 0 0
CANADIAN SOLAR INC COM 136635109 2,786 89,030 SH   SOLE   89,030 0 0
CENTENNIAL RESOURCE DEV INC CL A 15136A102 1,517 253,749 SH   SOLE   253,749 0 0
CENTERRA GOLD INC COM 152006102 2,414 313,400 SH   SOLE   313,400 0 0
CENTURY ALUM CO COM 156431108 536 32,361 SH   SOLE   32,361 0 0
CF INDS HLDGS INC COM 125269100 15,877 224,318 SH   SOLE   224,318 0 0
CHAMPIONX CORPORATION COM 15872M104 1,359 67,243 SH   SOLE   67,243 0 0
CHEMOURS CO COM 163851108 759 22,608 SH   SOLE   22,608 0 0
CHEVRON CORP NEW COM 166764100 1,461 12,447 SH   SOLE   12,447 0 0
CHINA PETROLEUM & CHEMICAL C SPON ADR H SHS 16941R108 280 6,024 SH   SOLE   6,024 0 0
CIVITAS RESOURCES INC COM NEW 17888H103 626 12,784 SH   SOLE   12,784 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101 519 23,835 SH   SOLE   23,835 0 0
CNH INDL N V SHS N20944109 3,443 177,182 SH   SOLE   177,182 0 0
CNX RES CORP COM 12653C108 602 43,817 SH   SOLE   43,817 0 0
COMMERCIAL METALS CO COM 201723103 550 15,145 SH   SOLE   15,145 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 1,885 256,778 SH   SOLE   256,778 0 0
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 1,820 409,842 SH   SOLE   409,842 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 263 35,884 SH   SOLE   35,884 0 0
COMPASS MINERALS INTL INC COM 20451N101 2,391 46,808 SH   SOLE   46,808 0 0
COMSTOCK RES INC COM 205768302 2,357 291,404 SH   SOLE   291,404 0 0
CONOCOPHILLIPS COM 20825C104 2,424 33,584 SH   SOLE   33,584 0 0
CONTINENTAL RES INC COM 212015101 3,432 76,665 SH   SOLE   76,665 0 0
CORE LABORATORIES N V COM N22717107 1,464 65,630 SH   SOLE   65,630 0 0
CORTEVA INC COM 22052L104 5,824 123,190 SH   SOLE   123,190 0 0
COTERRA ENERGY INC COM 127097103 1,382 72,755 SH   SOLE   72,755 0 0
CRESCENT PT ENERGY CORP COM 22576C101 4,813 902,500 SH   SOLE   902,500 0 0
DAQO NEW ENERGY CORP SPNSRD ADS NEW 23703Q203 3,078 76,346 SH   SOLE   76,346 0 0
DARLING INGREDIENTS INC COM 237266101 1,332 19,227 SH   SOLE   19,227 0 0
DEERE & CO COM 244199105 3,534 10,306 SH   SOLE   10,306 0 0
DEVON ENERGY CORP NEW COM 25179M103 1,217 27,631 SH   SOLE   27,631 0 0
DIAMONDBACK ENERGY INC COM 25278X109 4,808 44,577 SH   SOLE   44,577 0 0
ECOPETROL S A SPONSORED ADS 279158109 859 66,639 SH   SOLE   66,639 0 0
ELDORADO GOLD CORP NEW COM 284902509 1,636 174,938 SH   SOLE   174,938 0 0
ENDEAVOUR SILVER CORP COM 29258Y103 1,589 376,583 SH   SOLE   376,583 0 0
ENERPLUS CORP COM 292766102 1,539 145,475 SH   SOLE   145,475 0 0
ENI S P A SPONSORED ADR 26874R108 545 19,710 SH   SOLE   19,710 0 0
ENPHASE ENERGY INC COM 29355A107 2,887 15,780 SH   SOLE   15,780 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 245 11,138 SH   SOLE   11,138 0 0
EOG RES INC COM 26875P101 3,348 37,695 SH   SOLE   37,695 0 0
EQT CORP COM 26884L109 224 10,276 SH   SOLE   10,276 0 0
ERO COPPER CORP COM 296006109 1,305 85,600 SH   SOLE   85,600 0 0
ESSENTIAL UTILS INC COM 29670G102 1,480 27,570 SH   SOLE   27,570 0 0
EVOQUA WATER TECHNOLOGIES CO COM 30057T105 1,025 21,927 SH   SOLE   21,927 0 0
EXXON MOBIL CORP COM 30231G102 1,678 27,425 SH   SOLE   27,425 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 4,136 372,233 SH   SOLE   372,233 0 0
FIRST SOLAR INC COM 336433107 1,669 19,145 SH   SOLE   19,145 0 0
FMC CORP COM NEW 302491303 4,191 38,142 SH   SOLE   38,142 0 0
FORTUNA SILVER MINES INC COM 349915108 4,834 1,239,364 SH   SOLE   1,239,364 0 0
FRANCO NEV CORP COM 351858105 285 2,063 SH   SOLE   2,063 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,845 44,219 SH   SOLE   44,219 0 0
FUELCELL ENERGY INC COM 35952H601 155 29,743 SH   SOLE   29,743 0 0
GERDAU SA SPON ADR REP PFD 373737105 2,408 489,434 SH   SOLE   489,434 0 0
GEVO INC COM PAR 374396406 269 62,769 SH   SOLE   62,769 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 545 49,598 SH   SOLE   49,598 0 0
GREEN PLAINS INC COM 393222104 2,091 60,160 SH   SOLE   60,160 0 0
HALLIBURTON CO COM 406216101 3,331 145,636 SH   SOLE   145,636 0 0
HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300 163 39,695 SH   SOLE   39,695 0 0
HECLA MNG CO COM 422704106 4,951 948,446 SH   SOLE   948,446 0 0
HELIX ENERGY SOLUTIONS GRP I COM 42330P107 1,699 544,413 SH   SOLE   544,413 0 0
HELMERICH & PAYNE INC COM 423452101 2,018 85,133 SH   SOLE   85,133 0 0
HESS CORP COM 42809H107 921 12,437 SH   SOLE   12,437 0 0
HOLLYFRONTIER CORP COM 436106108 755 23,035 SH   SOLE   23,035 0 0
HUDBAY MINERALS INC COM 443628102 2,707 374,000 SH   SOLE   374,000 0 0
IAMGOLD CORP COM 450913108 1,395 445,546 SH   SOLE   445,546 0 0
INGREDION INC COM 457187102 6,843 70,814 SH   SOLE   70,814 0 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100 2,112 45,961 SH   SOLE   45,961 0 0
KINROSS GOLD CORP COM 496902404 5,347 920,314 SH   SOLE   920,314 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 4,801 114,623 SH   SOLE   114,623 0 0
KOSMOS ENERGY LTD COM 500688106 1,426 412,162 SH   SOLE   412,162 0 0
LAREDO PETROLEUM INC COM 516806205 247 4,103 SH   SOLE   4,103 0 0
LIBERTY OILFIELD SVCS INC COM CL A 53115L104 644 66,409 SH   SOLE   66,409 0 0
LIVENT CORP COM 53814L108 835 34,259 SH   SOLE   34,259 0 0
MAG SILVER CORP COM 55903Q104 491 31,355 SH   SOLE   31,355 0 0
MAGNOLIA OIL & GAS CORP CL A 559663109 2,373 125,773 SH   SOLE   125,773 0 0
MARATHON OIL CORP COM 565849106 1,823 111,005 SH   SOLE   111,005 0 0
MARATHON PETE CORP COM 56585A102 1,622 25,347 SH   SOLE   25,347 0 0
MATADOR RES CO COM 576485205 664 17,979 SH   SOLE   17,979 0 0
MOSAIC CO NEW COM 61945C103 6,470 164,684 SH   SOLE   164,684 0 0
MURPHY OIL CORP COM 626717102 876 33,543 SH   SOLE   33,543 0 0
NABORS INDUSTRIES LTD SHS G6359F137 239 2,944 SH   SOLE   2,944 0 0
NATIONAL FUEL GAS CO COM 636180101 202 3,154 SH   SOLE   3,154 0 0
NEWMONT CORP COM 651639106 4,926 79,430 SH   SOLE   79,430 0 0
NEXGEN ENERGY LTD COM 65340P106 1,071 244,600 SH   SOLE   244,600 0 0
NEXTIER OILFIELD SOLUTIONS COM 65290C105 309 87,074 SH   SOLE   87,074 0 0
NORTHERN OIL AND GAS INC MN COM 665531307 280 13,598 SH   SOLE   13,598 0 0
NOV INC COM 62955J103 1,677 123,766 SH   SOLE   123,766 0 0
NOW INC COM 67011P100 537 62,839 SH   SOLE   62,839 0 0
NUTRIEN LTD COM 67077M108 7,079 94,222 SH   SOLE   94,222 0 0
OCCIDENTAL PETE CORP COM 674599105 2,416 83,334 SH   SOLE   83,334 0 0
OCEANEERING INTL INC COM 675232102 1,254 110,832 SH   SOLE   110,832 0 0
ORMAT TECHNOLOGIES INC COM 686688102 3,232 40,751 SH   SOLE   40,751 0 0
OVINTIV INC COM 69047Q102 761 22,579 SH   SOLE   22,579 0 0
PAN AMERN SILVER CORP COM 697900108 6,628 265,419 SH   SOLE   265,419 0 0
PATTERSON-UTI ENERGY INC COM 703481101 2,167 256,498 SH   SOLE   256,498 0 0
PDC ENERGY INC COM 69327R101 2,289 46,921 SH   SOLE   46,921 0 0
PENTAIR PLC SHS G7S00T104 2,358 32,282 SH   SOLE   32,282 0 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 582 13,160 SH   SOLE   13,160 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 3,053 278,021 SH   SOLE   278,021 0 0
PHILLIPS 66 COM 718546104 635 8,761 SH   SOLE   8,761 0 0
PILGRIMS PRIDE CORP COM 72147K108 2,030 71,981 SH   SOLE   71,981 0 0
PIONEER NAT RES CO COM 723787107 1,138 6,256 SH   SOLE   6,256 0 0
PLUG POWER INC COM NEW 72919P202 759 26,896 SH   SOLE   26,896 0 0
POTLATCHDELTIC CORPORATION COM 737630103 7,242 120,260 SH   SOLE   120,260 0 0
PRETIUM RES INC COM 74139C102 1,103 78,270 SH   SOLE   78,270 0 0
PROPETRO HLDG CORP COM 74347M108 1,649 203,615 SH   SOLE   203,615 0 0
RAYONIER INC COM 754907103 977 24,209 SH   SOLE   24,209 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 1,312 8,085 SH   SOLE   8,085 0 0
RENEWABLE ENERGY GROUP INC COM NEW 75972A301 1,220 28,744 SH   SOLE   28,744 0 0
RIO TINTO PLC SPONSORED ADR 767204100 3,216 48,037 SH   SOLE   48,037 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 623 14,366 SH   SOLE   14,366 0 0
ROYAL GOLD INC COM 780287108 1,165 11,072 SH   SOLE   11,072 0 0
RPC INC COM 749660106 663 146,144 SH   SOLE   146,144 0 0
SANDERSON FARMS INC COM 800013104 4,683 24,510 SH   SOLE   24,510 0 0
SCHLUMBERGER LTD COM STK 806857108 1,590 53,086 SH   SOLE   53,086 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 1,463 116,703 SH   SOLE   116,703 0 0
SILVERCORP METALS INC COM 82835P103 1,350 359,047 SH   SOLE   359,047 0 0
SM ENERGY CO COM 78454L100 1,390 47,160 SH   SOLE   47,160 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 7,913 156,913 SH   SOLE   156,913 0 0
SOLAREDGE TECHNOLOGIES INC COM 83417M104 2,834 10,100 SH   SOLE   10,100 0 0
SOUTHERN COPPER CORP COM 84265V105 2,452 39,741 SH   SOLE   39,741 0 0
SOUTHWESTERN ENERGY CO COM 845467109 329 70,547 SH   SOLE   70,547 0 0
SSR MNG INC COM 784730103 4,796 270,999 SH   SOLE   270,999 0 0
SUNCOKE ENERGY INC COM 86722A103 222 33,737 SH   SOLE   33,737 0 0
SUNCOR ENERGY INC NEW COM 867224107 2,061 82,400 SH   SOLE   82,400 0 0
SUNPOWER CORP COM 867652406 2,287 109,561 SH   SOLE   109,561 0 0
TALOS ENERGY INC COM 87484T108 1,548 158,007 SH   SOLE   158,007 0 0
TECHNIPFMC PLC COM G87110105 499 84,393 SH   SOLE   84,393 0 0
TECK RESOURCES LTD CL B 878742204 1,857 64,423 SH   SOLE   64,423 0 0
TELLURIAN INC NEW COM 87968A104 675 219,069 SH   SOLE   219,069 0 0
TENARIS S A SPONSORED ADS 88031M109 682 32,673 SH   SOLE   32,673 0 0
TERNIUM SA SPONSORED ADS 880890108 1,508 34,655 SH   SOLE   34,655 0 0
TOTALENERGIES SE SPONSORED ADS 89151E109 1,407 28,449 SH   SOLE   28,449 0 0
TRANSOCEAN LTD REG SHS H8817H100 1,649 597,461 SH   SOLE   597,461 0 0
TURQUOISE HILL RES LTD COM 900435207 805 48,913 SH   SOLE   48,913 0 0
TYSON FOODS INC CL A 902494103 5,720 65,625 SH   SOLE   65,625 0 0
U S SILICA HLDGS INC COM 90346E103 1,637 174,191 SH   SOLE   174,191 0 0
VALE S A SPONSORED ADS 91912E105 2,953 210,650 SH   SOLE   210,650 0 0
VALERO ENERGY CORP COM 91913Y100 1,241 16,525 SH   SOLE   16,525 0 0
VERMILION ENERGY INC COM 923725105 3,095 246,400 SH   SOLE   246,400 0 0
VILLAGE FARMS INTL INC COM 92707Y108 2,143 333,842 SH   SOLE   333,842 0 0
W & T OFFSHORE INC COM 92922P106 561 173,657 SH   SOLE   173,657 0 0
WARRIOR MET COAL INC COM 93627C101 546 21,227 SH   SOLE   21,227 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 269 6,270 SH   SOLE   6,270 0 0
WHITING PETE CORP NEW COM NEW 966387508 221 3,412 SH   SOLE   3,412 0 0
WORTHINGTON INDS INC COM 981811102 220 4,034 SH   SOLE   4,034 0 0
YAMANA GOLD INC COM 98462Y100 3,991 945,729 SH   SOLE   945,729 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 413 108,066 SH   SOLE   108,066 0 0