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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADECOAGRO S A COM L00849106   690,645 59,080 SH   SOLE   59,080 0 0
AGCO CORP COM 001084102   534,389 4,518 SH   SOLE   4,518 0 0
AGNICO EAGLE MINES LTD COM 008474108   2,578,291 56,585 SH   SOLE   56,585 0 0
ALAMOS GOLD INC NEW COM CL A 011532108   3,658,683 324,064 SH   SOLE   324,064 0 0
ALBEMARLE CORP COM 012653101   597,010 3,511 SH   SOLE   3,511 0 0
ALCOA CORP COM 013872106   3,358,115 115,558 SH   SOLE   115,558 0 0
ALGOMA STL GROUP INC COM 015658107   1,289,831 189,681 SH   SOLE   189,681 0 0
AMER STATES WTR CO COM 029899101   1,890,680 24,030 SH   SOLE   24,030 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103   1,296,872 10,473 SH   SOLE   10,473 0 0
ANGLOGOLD ASHANTI PLC COM SHS G0378L100   1,694,313 107,235 SH   SOLE   107,235 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203   400,430 15,998 SH   SOLE   15,998 0 0
ARCHER DANIELS MIDLAND CO COM 039483102   8,383,687 111,160 SH   SOLE   111,160 0 0
ATI INC COM 01741R102   280,273 6,811 SH   SOLE   6,811 0 0
ATLANTICA SUSTAINABLE INFR P SHS G0751N103   1,885,571 98,721 SH   SOLE   98,721 0 0
B2GOLD CORP COM 11777Q209   3,842,942 1,329,789 SH   SOLE   1,329,789 0 0
BAKER HUGHES COMPANY CL A 05722G100   2,316,321 65,581 SH   SOLE   65,581 0 0
BARRICK GOLD CORP COM 067901108   1,970,361 135,420 SH   SOLE   135,420 0 0
BAYTEX ENERGY CORP COM 07317Q105   4,342,476 982,900 SH   SOLE   982,900 0 0
BLACK STONE MINERALS L P COM UNIT 09225M101   1,726,670 100,213 SH   SOLE   100,213 0 0
BP PLC SPONSORED ADR 055622104   360,754 9,317 SH   SOLE   9,317 0 0
BROOKFIELD RENEWABLE CORP CL A SUB VTG 11284V105   377,103 15,752 SH   SOLE   15,752 0 0
BUNGE LIMITED COM G16962105   7,564,402 69,879 SH   SOLE   69,879 0 0
CAL MAINE FOODS INC COM NEW 128030202   8,221,668 169,799 SH   SOLE   169,799 0 0
CALIFORNIA WTR SVC GROUP COM 130788102   1,670,611 35,312 SH   SOLE   35,312 0 0
CALLON PETE CO DEL COM 13123X508   3,610,189 92,285 SH   SOLE   92,285 0 0
CANADIAN NAT RES LTD COM 136385101   690,671 10,646 SH   SOLE   10,646 0 0
CANADIAN SOLAR INC COM 136635109   2,201,561 89,458 SH   SOLE   89,458 0 0
CENOVUS ENERGY INC COM 15135U109   1,389,402 66,500 SH   SOLE   66,500 0 0
CENTERRA GOLD INC COM 152006102   1,663,500 339,100 SH   SOLE   339,100 0 0
CENTURY ALUM CO COM 156431108   108,432 15,081 SH   SOLE   15,081 0 0
CF INDS HLDGS INC COM 125269100   3,574,243 41,687 SH   SOLE   41,687 0 0
CHAMPIONX CORPORATION COM 15872M104   2,371,473 66,577 SH   SOLE   66,577 0 0
CHEVRON CORP NEW COM 166764100   1,983,308 11,762 SH   SOLE   11,762 0 0
CHORD ENERGY CORPORATION COM NEW 674215207   2,837,035 17,505 SH   SOLE   17,505 0 0
CIVITAS RESOURCES INC COM NEW 17888H103   2,509,153 31,027 SH   SOLE   31,027 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101   691,331 44,231 SH   SOLE   44,231 0 0
CNH INDL N V SHS N20944109   435,056 35,955 SH   SOLE   35,955 0 0
CNX RES CORP COM 12653C108   1,297,944 57,482 SH   SOLE   57,482 0 0
COEUR MNG INC COM NEW 192108504   358,645 161,552 SH   SOLE   161,552 0 0
COMMERCIAL METALS CO COM 201723103   1,070,023 21,656 SH   SOLE   21,656 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102   963,092 79,463 SH   SOLE   79,463 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104   1,291,087 151,536 SH   SOLE   151,536 0 0
COMPASS MINERALS INTL INC COM 20451N101   1,570,063 56,174 SH   SOLE   56,174 0 0
COMSTOCK RES INC COM 205768302   1,814,678 164,522 SH   SOLE   164,522 0 0
CONOCOPHILLIPS COM 20825C104   743,958 6,210 SH   SOLE   6,210 0 0
CORTEVA INC COM 22052L104   5,408,021 105,708 SH   SOLE   105,708 0 0
COTERRA ENERGY INC COM 127097103   3,129,036 115,676 SH   SOLE   115,676 0 0
CRESCENT ENERGY COMPANY CL A COM 44952J104   398,388 31,518 SH   SOLE   31,518 0 0
CRESCENT PT ENERGY CORP COM 22576C101   880,138 105,800 SH   SOLE   105,800 0 0
DARLING INGREDIENTS INC COM 237266101   5,093,624 97,579 SH   SOLE   97,579 0 0
DEERE & CO COM 244199105   1,712,173 4,537 SH   SOLE   4,537 0 0
DEVON ENERGY CORP NEW COM 25179M103   5,846,446 122,567 SH   SOLE   122,567 0 0
DIAMONDBACK ENERGY INC COM 25278X109   5,019,196 32,407 SH   SOLE   32,407 0 0
EARTHSTONE ENERGY INC CL A 27032D304   2,553,337 126,153 SH   SOLE   126,153 0 0
ELDORADO GOLD CORP NEW COM 284902509   1,244,201 139,641 SH   SOLE   139,641 0 0
EOG RES INC COM 26875P101   3,504,660 27,648 SH   SOLE   27,648 0 0
EQT CORP COM 26884L109   2,279,947 56,184 SH   SOLE   56,184 0 0
EQUINOR ASA SPONSORED ADR 29446M102   206,938 6,311 SH   SOLE   6,311 0 0
EQUINOX GOLD CORP COM 29446Y502   1,100,079 260,066 SH   SOLE   260,066 0 0
EXPRO GROUP HOLDINGS NV COM N3144W105   1,341,347 57,742 SH   SOLE   57,742 0 0
EXXON MOBIL CORP COM 30231G102   1,130,179 9,612 SH   SOLE   9,612 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103   364,343 71,022 SH   SOLE   71,022 0 0
FIRST SOLAR INC COM 336433107   303,304 1,877 SH   SOLE   1,877 0 0
FLEX LNG LTD SHS G35947202   201,107 6,668 SH   SOLE   6,668 0 0
FMC CORP COM NEW 302491303   5,261,431 78,564 SH   SOLE   78,564 0 0
FRANCO NEV CORP COM 351858105   2,387,202 17,883 SH   SOLE   17,883 0 0
FREEPORT-MCMORAN INC CL B 35671D857   4,219,923 113,165 SH   SOLE   113,165 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106   4,721,494 434,760 SH   SOLE   434,760 0 0
GREEN PLAINS INC COM 393222104   1,013,587 33,674 SH   SOLE   33,674 0 0
HALLIBURTON CO COM 406216101   2,774,088 68,496 SH   SOLE   68,496 0 0
HECLA MNG CO COM 422704106   216,071 55,261 SH   SOLE   55,261 0 0
HELMERICH & PAYNE INC COM 423452101   2,747,061 65,158 SH   SOLE   65,158 0 0
HESS CORP COM 42809H107   783,819 5,123 SH   SOLE   5,123 0 0
HORMEL FOODS CORP COM 440452100   4,563,904 120,008 SH   SOLE   120,008 0 0
HUDBAY MINERALS INC COM 443628102   2,139,447 438,100 SH   SOLE   438,100 0 0
ICL GROUP LTD SHS M53213100   1,219,529 219,735 SH   SOLE   219,735 0 0
INGREDION INC COM 457187102   7,288,586 74,071 SH   SOLE   74,071 0 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100   367,082 12,087 SH   SOLE   12,087 0 0
KINROSS GOLD CORP COM 496902404   3,740,390 820,261 SH   SOLE   820,261 0 0
KOSMOS ENERGY LTD COM 500688106   384,026 46,947 SH   SOLE   46,947 0 0
LIBERTY ENERGY INC COM CL A 53115L104   3,706,574 200,139 SH   SOLE   200,139 0 0
MAGNOLIA OIL & GAS CORP CL A 559663109   4,592,332 200,451 SH   SOLE   200,451 0 0
MARATHON OIL CORP COM 565849106   2,043,138 76,379 SH   SOLE   76,379 0 0
MATADOR RES CO COM 576485205   501,119 8,425 SH   SOLE   8,425 0 0
MOSAIC CO NEW COM 61945C103   677,397 19,028 SH   SOLE   19,028 0 0
MP MATERIALS CORP COM CL A 553368101   362,556 18,982 SH   SOLE   18,982 0 0
MURPHY OIL CORP COM 626717102   6,269,547 138,248 SH   SOLE   138,248 0 0
NEWMONT CORP COM 651639106   2,305,126 62,385 SH   SOLE   62,385 0 0
NEXGEN ENERGY LTD COM 65340P106   1,420,524 236,500 SH   SOLE   236,500 0 0
NOBLE CORP PLC ORD SHS A G65431127   1,442,816 28,486 SH   SOLE   28,486 0 0
NORTHERN OIL & GAS INC COM 665531307   265,397 6,597 SH   SOLE   6,597 0 0
NOV INC COM 62955J103   470,626 22,518 SH   SOLE   22,518 0 0
NOW INC COM 67011P100   253,377 21,346 SH   SOLE   21,346 0 0
NUCOR CORP COM 670346105   1,618,535 10,352 SH   SOLE   10,352 0 0
NUTRIEN LTD COM 67077M108   3,442,931 55,644 SH   SOLE   55,644 0 0
OCCIDENTAL PETE CORP COM 674599105   3,085,952 47,564 SH   SOLE   47,564 0 0
OCEANEERING INTL INC COM 675232102   1,439,343 55,962 SH   SOLE   55,962 0 0
OIL STS INTL INC COM 678026105   207,166 24,751 SH   SOLE   24,751 0 0
PAN AMERN SILVER CORP COM 697900108   337,861 23,332 SH   SOLE   23,332 0 0
PATTERSON-UTI ENERGY INC COM 703481101   3,620,364 261,587 SH   SOLE   261,587 0 0
PERMIAN RESOURCES CORP CLASS A COM 71424F105   1,604,521 114,937 SH   SOLE   114,937 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408   467,643 31,197 SH   SOLE   31,197 0 0
PIONEER NAT RES CO COM 723787107   4,463,370 19,444 SH   SOLE   19,444 0 0
POTLATCHDELTIC CORPORATION COM 737630103   3,612,908 79,597 SH   SOLE   79,597 0 0
PROPETRO HLDG CORP COM 74347M108   321,409 30,236 SH   SOLE   30,236 0 0
RAMACO RES INC COM CL A 75134P600   178,192 16,214 SH   SOLE   16,214 0 0
RANGE RES CORP COM 75281A109   943,617 29,115 SH   SOLE   29,115 0 0
RAYONIER INC COM 754907103   1,722,115 60,510 SH   SOLE   60,510 0 0
RENEW ENERGY GLOBAL PLC CL A SHS G7500M104   629,945 116,012 SH   SOLE   116,012 0 0
RIO TINTO PLC SPONSORED ADR 767204100   3,282,360 51,577 SH   SOLE   51,577 0 0
ROYAL GOLD INC COM 780287108   328,666 3,091 SH   SOLE   3,091 0 0
RPC INC COM 749660106   378,046 42,287 SH   SOLE   42,287 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869   378,612 24,177 SH   SOLE   24,177 0 0
SANDSTORM GOLD LTD COM NEW 80013R206   951,190 204,118 SH   SOLE   204,118 0 0
SCHLUMBERGER LTD COM STK 806857108   2,450,232 42,028 SH   SOLE   42,028 0 0
SELECT WATER SOLUTIONS INC CL A COM 81617J301   271,985 34,212 SH   SOLE   34,212 0 0
SHOALS TECHNOLOGIES GROUP IN CL A 82489W107   1,774,229 97,218 SH   SOLE   97,218 0 0
SJW GROUP COM 784305104   591,783 9,845 SH   SOLE   9,845 0 0
SM ENERGY CO COM 78454L100   3,730,232 94,079 SH   SOLE   94,079 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105   821,000 13,759 SH   SOLE   13,759 0 0
SOUTHERN COPPER CORP COM 84265V105   2,626,416 34,884 SH   SOLE   34,884 0 0
SOUTHWESTERN ENERGY CO COM 845467109   3,014,259 467,327 SH   SOLE   467,327 0 0
SSR MINING IN COM 784730103   603,233 45,385 SH   SOLE   45,385 0 0
STEEL DYNAMICS INC COM 858119100   1,895,435 17,678 SH   SOLE   17,678 0 0
SUNCOKE ENERGY INC COM 86722A103   555,032 54,683 SH   SOLE   54,683 0 0
SUNCOR ENERGY INC NEW COM 867224107   1,732,369 50,200 SH   SOLE   50,200 0 0
SUNNOVA ENERGY INTL INC. COM 86745K104   194,145 18,543 SH   SOLE   18,543 0 0
SUNPOWER CORP COM 867652406   879,842 142,600 SH   SOLE   142,600 0 0
TECK RESOURCES LTD CL B 878742204   3,546,070 82,283 SH   SOLE   82,283 0 0
TERNIUM SA SPONSORED ADS 880890108   675,028 16,918 SH   SOLE   16,918 0 0
TIDEWATER INC NEW COM 88642R109   455,630 6,411 SH   SOLE   6,411 0 0
TIMKENSTEEL CORPORATION COM 887399103   1,409,715 64,904 SH   SOLE   64,904 0 0
TOTALENERGIES SE SPONSORED ADS 89151E109   943,393 14,346 SH   SOLE   14,346 0 0
TRANSOCEAN LTD REG SHS H8817H100   373,465 45,489 SH   SOLE   45,489 0 0
TRONOX HOLDINGS PLC SHS G9087Q102   401,238 29,854 SH   SOLE   29,854 0 0
TYSON FOODS INC CL A 902494103   4,618,270 91,469 SH   SOLE   91,469 0 0
U S SILICA HLDGS INC COM 90346E103   2,188,836 155,900 SH   SOLE   155,900 0 0
UNITED STATES STL CORP NEW COM 912909108   2,558,937 78,785 SH   SOLE   78,785 0 0
VAALCO ENERGY INC COM NEW 91851C201   396,044 90,215 SH   SOLE   90,215 0 0
VALE S A SPONSORED ADS 91912E105   1,214,750 90,653 SH   SOLE   90,653 0 0
VERMILION ENERGY INC COM 923725105   5,447,732 371,100 SH   SOLE   371,100 0 0
VIPER ENERGY PARTNERS LP COM UNT RP INT 92763M105   1,973,792 70,796 SH   SOLE   70,796 0 0
VITAL ENERGY INC COM 516806205   2,436,042 43,956 SH   SOLE   43,956 0 0
W & T OFFSHORE INC COM 92922P106   2,088,445 476,814 SH   SOLE   476,814 0 0
WARRIOR MET COAL INC COM 93627C101   1,635,582 32,020 SH   SOLE   32,020 0 0
WEST FRASER TIMBER CO LTD COM 952845105   5,944,810 81,600 SH   SOLE   81,600 0 0
WHEATON PRECIOUS METALS CORP COM 962879102   1,937,236 47,774 SH   SOLE   47,774 0 0