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
ADIENT PLC ORD SHS G0084W101 39,283 869,098 SH   SOLE   869,098 0 0
AGCO CORP COM 001084102 14,506 111,257 SH   SOLE   111,257 0 0
ALASKA AIR GROUP INC COM 011659109 48,683 807,220 SH   SOLE   807,220 0 0
ALCOA CORP COM 013872106 38,268 1,038,770 SH   SOLE   1,038,770 0 0
ANALOG DEVICES INC COM 032654105 7,487 43,489 SH   SOLE   43,489 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203 14,790 476,167 SH   SOLE   476,167 0 0
BARCLAYS PLC ADR 06738E204 5,252 544,200 SH   SOLE   544,200 0 0
BRUNSWICK CORP COM 117043109 18,868 189,398 SH   SOLE   189,398 0 0
CENTURY ALUM CO COM 156431108 12,595 977,084 SH   SOLE   977,084 0 0
CINEMARK HLDGS INC COM 17243V102 25,371 1,155,864 SH   SOLE   1,155,864 0 0
CONOCOPHILLIPS COM 20825C104 11,685 191,870 SH   SOLE   191,870 0 0
CUMMINS INC COM 231021106 19,985 81,971 SH   SOLE   81,971 0 0
DANAOS CORPORATION SHS Y1968P121 64,203 836,080 SH   SOLE   836,080 0 0
DEVON ENERGY CORP NEW COM 25179M103 83,205 2,850,466 SH   SOLE   2,850,466 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 11,978 1,845,664 SH   SOLE   1,845,664 0 0
ERO COPPER CORP COM 296006109 8,439 402,500 SH   SOLE   402,500 0 0
FEDEX CORP COM 31428X106 34,409 115,340 SH   SOLE   115,340 0 0
HARLEY DAVIDSON INC COM 412822108 144,772 3,159,583 SH   SOLE   3,159,583 0 0
HESS CORP COM 42809H107 25,899 296,597 SH   SOLE   296,597 0 0
HILTON GRAND VACATIONS INC COM 43283X105 44,789 1,082,123 SH   SOLE   1,082,123 0 0
LITHIA MTRS INC COM 536797103 29,886 86,970 SH   SOLE   86,970 0 0
LOUISIANA PAC CORP COM 546347105 50,989 845,735 SH   SOLE   845,735 0 0
MICRON TECHNOLOGY INC COM 595112103 18,408 216,613 SH   SOLE   216,613 0 0
NORFOLK SOUTHN CORP COM 655844108 24,563 92,547 SH   SOLE   92,547 0 0
NVR INC COM 62944T105 82,229 16,534 SH   SOLE   16,534 0 0
OLIN CORP COM PAR $1 680665205 12,061 260,716 SH   SOLE   260,716 0 0
OVINTIV INC COM 69047Q102 17,418 553,492 SH   SOLE   553,492 0 0
PROSHARES TR ULTRAPRO QQQ 74347X831 9,305 75,962 SH   SOLE   75,962 0 0
RIO TINTO PLC SPONSORED ADR 767204100 76,010 906,062 SH   SOLE   906,062 0 0
RIO TINTO PLC SPONSORED ADR 767204100 48,597 579,300 SH Call SOLE   579,300 0 0
SCHLUMBERGER LTD COM STK 806857108 20,893 652,705 SH   SOLE   652,705 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 34,608 2,068,620 SH   SOLE   2,068,620 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 5,017 299,900 SH Call SOLE   299,900 0 0
SONY GROUP CORPORATION SPONSORED ADR 835699307 2,663 27,396 SH   SOLE   27,396 0 0
STAR BULK CARRIERS CORP. SHS PAR Y8162K204 29,546 1,287,394 SH   SOLE   1,287,394 0 0
STELLANTIS N.V SHS N82405106 4,209 213,529 SH   SOLE   213,529 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 31,809 179,694 SH   SOLE   179,694 0 0
TECK RESOURCES LTD CL A 878742303 7,190 244,839 SH   SOLE   244,839 0 0
TECK RESOURCES LTD CL B 878742204 19,925 864,791 SH   SOLE   864,791 0 0
THOR INDS INC COM 885160101 7,998 70,775 SH   SOLE   70,775 0 0
TRONOX HOLDINGS PLC SHS G9087Q102 38,141 1,702,712 SH   SOLE   1,702,712 0 0
UNIFI INC COM NEW 904677200 36,278 1,489,240 SH   SOLE   1,489,240 0 0
VALARIS LIMITED CL A G9460G101 7,762 268,759 SH   SOLE   268,759 0 0
VALE S A SPONSORED ADS 91912E105 29,430 1,290,211 SH   SOLE   1,290,211 0 0
WEST FRASER TIMBER CO LTD COM 952845105 123,649 1,723,773 SH   SOLE   1,723,773 0 0
WEST FRASER TIMBER CO LTD COM 952845105 17,718 247,000 SH Call SOLE   247,000 0 0
ZIM INTEGRATED SHIPPING SERV SHS M9T951109 41,300 919,198 SH   SOLE   919,198 0 0