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
VENATOR MATLS PLC SHS G9329Z100 2,014 608,515 SH   SOLE   608,515 0 0
GENERAL ELECTRIC CO COM 369604103 5,400 500,000 SH   SOLE   500,000 0 0
ORION ENGINEERED CARBONS S A COM L72967109 5,656 330,000 SH   SOLE   330,000 0 0
WELBILT INC COM 949090104 3,984 301,822 SH   SOLE   301,822 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 2,618 240,000 SH   SOLE   240,000 0 0
EVOQUA WATER TECHNOLOGIES CO COM 30057T105 5,315 197,000 SH   SOLE   197,000 0 0
SOUTHWEST AIRLS CO COM 844741108 8,157 175,000 SH   SOLE   175,000 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 3,249 150,000 SH   SOLE   150,000 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 2,264 135,000 SH   SOLE   135,000 0 0
NORWEGIAN CRUISE LINE HLDG L SHS G66721104 3,052 120,000 SH   SOLE   120,000 0 0
DOMTAR CORP COM NEW 257559203 3,482 110,000 SH   SOLE   110,000 0 0
KRATON CORPORATION COM 50077C106 2,918 105,000 SH   SOLE   105,000 0 0
UNITED AIRLS HLDGS INC COM 910047109 4,325 100,000 SH   SOLE   100,000 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101 6,793 95,000 SH   SOLE   95,000 0 0
GRAFTECH INTL LTD COM 384313508 959 90,000 SH   SOLE   90,000 0 0
MOSAIC CO NEW COM 61945C103 1,841 80,000 SH   SOLE   80,000 0 0
TRONOX HOLDINGS PLC SHS G9087Q102 1,170 80,000 SH   SOLE   80,000 0 0
AAR CORP COM 000361105 2,883 79,586 SH   SOLE   79,586 0 0
SPIRIT AIRLS INC COM 848577102 1,834 75,000 SH   SOLE   75,000 0 0
ALASKA AIR GROUP INC COM 011659109 3,640 70,000 SH   SOLE   70,000 0 0
HUNTSMAN CORP COM 447011107 1,760 70,000 SH   SOLE   70,000 0 0
NUTRIEN LTD COM 67077M108 3,371 70,000 SH   SOLE   70,000 0 0
WESTROCK CO COM 96145D105 3,047 70,000 SH   SOLE   70,000 0 0
CONSTELLIUM SE CL A SHS F21107101 941 67,229 SH   SOLE   67,229 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 2,161 60,000 SH   SOLE   60,000 0 0
PACIFIC ETHANOL INC COM 69423U305 272 50,000 SH   SOLE   50,000 0 0
BOEING CO COM 097023105 9,633 45,000 SH   SOLE   45,000 0 0
CHEMOURS CO COM 163851108 992 40,000 SH   SOLE   40,000 0 0
HOWMET AEROSPACE INC COM 443201108 1,142 40,000 SH   SOLE   40,000 0 0
LOUISIANA PAC CORP COM 546347105 1,487 40,000 SH   SOLE   40,000 0 0
MIDDLEBY CORP COM 596278101 5,157 40,000 SH   SOLE   40,000 0 0
SWITCHBACK ENERGY ACQUISTN C COM CL A 87105M102 1,603 40,000 SH   SOLE   40,000 0 0
WEYERHAEUSER CO MTN BE COM NEW 962166104 1,341 40,000 SH   SOLE   40,000 0 0
SCORPIO TANKERS INC SHS Y7542C130 448 40,000 SH   SOLE   40,000 0 0
ALCOA CORP COM 013872106 807 35,000 SH   SOLE   35,000 0 0
FUELCELL ENERGY INC COM 35952H601 335 30,000 SH   SOLE   30,000 0 0
LITHIUM AMERS CORP NEW COM NEW 53680Q207 377 30,000 SH   SOLE   30,000 0 0
SUMMIT MATLS INC CL A 86614U100 602 30,000 SH   SOLE   30,000 0 0
VALE S A SPONSORED ADS 91912E105 503 30,000 SH   SOLE   30,000 0 0
HEICO CORP NEW COM 422806109 3,641 27,500 SH   SOLE   27,500 0 0
ARCONIC CORPORATION COM 03966V107 745 25,000 SH   SOLE   25,000 0 0
TIMKEN CO COM 887389104 1,934 25,000 SH   SOLE   25,000 0 0
ELEMENT SOLUTIONS INC COM 28618M106 399 22,500 SH   SOLE   22,500 0 0
ARCH RESOURCES INC CL A 03940R107 875 20,000 SH   SOLE   20,000 0 0
OLD DOMINION FREIGHT LINE IN COM 679580100 3,904 20,000 SH   SOLE   20,000 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 1,833 20,000 SH   SOLE   20,000 0 0
ILLINOIS TOOL WKS INC COM 452308109 3,568 17,500 SH   SOLE   17,500 0 0
AXALTA COATING SYS LTD COM G0750C108 443 15,525 SH   SOLE   15,525 0 0
CF INDS HLDGS INC COM 125269100 581 15,000 SH   SOLE   15,000 0 0
NORBORD INC COM NEW 65548P403 647 15,000 SH   SOLE   15,000 0 0
AGCO CORP COM 001084102 1,031 10,000 SH   SOLE   10,000 0 0
BARRICK GOLD CORP COM 067901108 228 10,000 SH   SOLE   10,000 0 0
CMC MATERIALS INC COM 12571T100 1,513 10,000 SH   SOLE   10,000 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101 146 10,000 SH   SOLE   10,000 0 0
GRACE W R & CO DEL NEW COM 38388F108 548 10,000 SH   SOLE   10,000 0 0
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 1,088 10,000 SH   SOLE   10,000 0 0
JELD-WEN HLDG INC COM 47580P103 254 10,000 SH   SOLE   10,000 0 0
EATON CORP PLC SHS G29183103 1,201 10,000 SH   SOLE   10,000 0 0
AIR TRANSPORT SERVICES GRP I COM 00922R105 235 7,500 SH   SOLE   7,500 0 0
PARKER-HANNIFIN CORP COM 701094104 2,043 7,500 SH   SOLE   7,500 0 0
HARSCO CORP COM 415864107 90 5,000 SH   SOLE   5,000 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 128 5,000 SH   SOLE   5,000 0 0
WOODWARD INC COM 980745103 608 5,000 SH   SOLE   5,000 0 0
MP MATERIALS CORP COM CL A 553368101 114 3,544 SH   SOLE   3,544 0 0
COMPASS MINERALS INTL INC COM 20451N101 132 2,135 SH   SOLE   2,135 0 0
BEACON ROOFING SUPPLY INC COM 073685109 26 638 SH   SOLE   638 0 0