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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
ANTERO RESOURCES CORP COM 03674X106   23,762,292 708,054 SH   SOLE   708,054 0 0
BARRICK MNG CORP COM SHS 06849F108   34,965,590 1,067,000 SH   SOLE   1,067,000 0 0
EXPAND ENERGY CORPORATION COM 165167735   24,307,711 228,800 SH   SOLE   228,800 0 0
EQT CORP COM 26884L109   36,607,277 672,557 SH   SOLE   672,557 0 0
EQUINOX GOLD CORP COM 29446Y502   61,069,393 5,442,905 SH   SOLE   5,442,905 0 0
GULFPORT ENERGY CORP COMMON SHARES 402635502   34,055,730 188,174 SH   SOLE   188,174 0 0
ISHARES TR MSCI EMG MKT ETF 464287234   108,796,562 52,000 SH   SOLE   52,000 0 0
ITAU UNIBANCO HLDG S A SPON ADR REP PFD 465562106   17,091,190 2,328,500 SH   SOLE   2,328,500 0 0
KASPI KZ JSC SPONSORED ADS 48581R205   15,246,552 186,662 SH   SOLE   186,662 0 0
NEWMONT CORP COM 651639106   35,592,731 422,165 SH   SOLE   422,165 0 0
TECK RESOURCES LTD CL B 878742204   12,502,944 284,870 SH   SOLE   284,870 0 0
VANECK ETF TRUST SEMICONDUCTR ETF 92189F676   17,982,435 55,100 SH   SOLE   55,100 0 0
VANECK ETF TRUST JUNIOR GOLD MINE 92189F791   36,230,918 365,858 SH   SOLE   365,858 0 0
VISTA ENERGY S.A.B. DE C.V SPONSORED ADS 92837L109   10,667,956 310,115 SH   SOLE   310,115 0 0
DEUTSCHE BANK A G NAMEN AKT D18190898   17,235,608 490,166 SH   SOLE   490,166 0 0