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
ALCOA CORP COM 013872106   2,178,921 56,478 SH   SOLE   0 0 56,478
ALCOA CORP COM 013872106   8,616,959 223,353 SH   SOLE   223,353 0 0
ATI INC COM 01741R102   2,185,548 32,664 SH   SOLE   0 0 32,664
ATI INC COM 01741R102   7,225,343 107,986 SH   SOLE   107,986 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107   2,064,027 10,647 SH   SOLE   0 0 10,647
BUILDERS FIRSTSOURCE INC COM 12008R107   8,767,900 45,228 SH   SOLE   45,228 0 0
CENTURY ALUM CO COM 156431108   20,636,104 1,271,479 SH   SOLE   1,271,479 0 0
CENTURY ALUM CO COM 156431108   2,212,993 136,352 SH   SOLE   0 0 136,352
CONSTELLIUM SE CL A SHS F21107101   2,049,947 126,073 SH   SOLE   0 0 126,073
CONSTELLIUM SE CL A SHS F21107101   6,878,972 423,061 SH   SOLE   423,061 0 0
D R HORTON INC COM 23331A109   2,055,356 10,774 SH   SOLE   0 0 10,774
D R HORTON INC COM 23331A109   7,658,843 40,147 SH   SOLE   40,147 0 0
ENTEGRIS INC COM 29362U104   2,081,242 18,495 SH   SOLE   0 0 18,495
ENTEGRIS INC COM 29362U104   8,963,352 79,653 SH   SOLE   79,653 0 0
FREEPORT-MCMORAN INC CL B 35671D857   9,799,695 196,308 SH   SOLE   196,308 0 0
FREEPORT-MCMORAN INC CL B 35671D857   2,133,431 42,737 SH   SOLE   0 0 42,737
GE VERNOVA INC COM 36828A101   2,174,979 8,530 SH   SOLE   0 0 8,530
GE VERNOVA INC COM 36828A101   7,658,324 30,035 SH   SOLE   30,035 0 0
HUDBAY MINERALS INC COM 443628102   2,159,705 235,006 SH   SOLE   0 0 235,006
HUDBAY MINERALS INC COM 443628102   8,163,900 888,346 SH   SOLE   888,346 0 0
MATERION CORP COM 576690101   2,205,879 19,720 SH   SOLE   0 0 19,720
MATERION CORP COM 576690101   6,941,584 62,056 SH   SOLE   62,056 0 0
NEXGEN ENERGY LTD COM 65340P106   2,840,785 435,036 SH   SOLE   435,036 0 0
NEXGEN ENERGY LTD COM 65340P106   845,446 129,471 SH   SOLE   0 0 129,471
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105   623,180 168,427 SH   SOLE   0 0 168,427
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105   2,037,320 550,627 SH   SOLE   550,627 0 0
SCORPIO TANKERS INC SHS Y7542C130   1,987,773 27,879 SH   SOLE   0 0 27,879
SCORPIO TANKERS INC SHS Y7542C130   6,384,059 89,538 SH   SOLE   89,538 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108   1,954,405 103,353 SH   SOLE   0 0 103,353
VISHAY INTERTECHNOLOGY INC COM 928298108   18,889,672 998,925 SH   SOLE   998,925 0 0