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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
ALGOMA STL GROUP INC COM 015658107   25,319,570 2,499,464 SH   SOLE   2,499,464 0 0
ALPHA METALLURGICAL RESOUR I COM 020764106   2,500,297 7,198 SH   SOLE   7,198 0 0
ARCH RESOURCES INC CL A 03940R107   4,258,585 25,551 SH   SOLE   25,551 0 0
ARCHER DANIELS MIDLAND CO COM 039483102   6,200,766 85,800 SH   SOLE   85,800 0 0
ATLAS LITHIUM CORP COM NEW 105861306   6,347,574 190,275 SH   SOLE   190,275 0 0
BAYTEX ENERGY CORP COM 07317Q105   552,962 161,140 SH   SOLE   161,140 0 0
BAYTEX ENERGY CORP COM 07317Q105   3,761,579 1,450,290 SH   SOLE   1,450,290 0 0
CF INDS HLDGS INC COM 125269100   4,118,422 51,700 SH   SOLE   51,700 0 0
CONOCOPHILLIPS COM 20825C104   10,718,000 92,000 SH   SOLE   92,000 0 0
FERROGLOBE PLC SHS G33856108   2,918,577 434,312 SH   SOLE   434,312 0 0
FREEPORT-MCMORAN INC CL B 35671D857   14,725,746 342,300 SH   SOLE   342,300 0 0
HF SINCLAIR CORP COM 403949100   6,633,080 119,300 SH   SOLE   119,300 0 0
INVESCO EXCH TRADED FD TR II SOLAR ETF 46138G706   5,628,036 103,800 SH   SOLE   103,800 0 0
MARATHON PETE CORP COM 56585A102   4,497,319 30,619 SH   SOLE   30,619 0 0
MURPHY OIL CORP COM 626717102   16,728,050 388,302 SH   SOLE   388,302 0 0
NEXGEN ENERGY LTD COM 65340P106   1,706,285 250,000 SH   SOLE   250,000 0 0
PAR PAC HOLDINGS INC COM NEW 69888T207   4,940,455 135,022 SH   SOLE   135,022 0 0
PBF ENERGY INC CL A 69318G106   2,797,232 63,200 SH   SOLE   63,200 0 0
PEABODY ENERGY CORP COM 704551100   8,547,570 347,321 SH   SOLE   347,321 0 0
RIO TINTO PLC SPONSORED ADR 767204100   15,094,350 202,500 SH   SOLE   202,500 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506   14,318,712 170,400 SH   SOLE   170,400 0 0
SIGMA LITHIUM CORPORATION COM 826599102   22,432,294 705,862 SH   SOLE   705,862 0 0
SPDR GOLD TR GOLD SHS 78463V107   4,959,073 25,900 SH   SOLE   25,900 0 0
TALOS ENERGY INC COM 87484T108   2,951,980 206,000 SH   SOLE   206,000 0 0
TECK RESOURCES LTD CL B 878742204   17,389,685 408,017 SH   SOLE   408,017 0 0
TRINSEO PLC SHS G9059U107   1,882,038 215,830 SH   SOLE   215,830 0 0
VALERO ENERGY CORP COM 91913Y100   4,501,114 34,600 SH   SOLE   34,600 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   4,837,584 155,200 SH   SOLE   155,200 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   5,036,655 11,500 SH   SOLE   11,500 0 0