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
ADECOAGRO S A COM L00849106   1,623,970 200,738 SH   SOLE   200,738 0 0
AGCO CORP COM 001084102   6,113,879 45,221 SH   SOLE   45,221 0 0
AGNICO EAGLE MINES LTD COM 008474108   6,911,974 135,791 SH   SOLE   135,791 0 0
ALAMOS GOLD INC NEW COM CL A 011532108   1,570,858 128,443 SH   SOLE   128,443 0 0
ALCOA CORP COM 013872106   2,811,131 66,051 SH   SOLE   66,051 0 0
AMERESCO INC CL A 02361E108   1,054,785 21,430 SH   SOLE   21,430 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103   501,289 3,422 SH   SOLE   3,422 0 0
ANDERSONS INC COM 034164103   2,076,661 50,258 SH   SOLE   50,258 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206   990,581 40,950 SH   SOLE   40,950 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203   481,860 15,998 SH   SOLE   15,998 0 0
ARCHER DANIELS MIDLAND CO COM 039483102   4,611,438 57,889 SH   SOLE   57,889 0 0
ARCHROCK INC COM 03957W106   1,652,214 169,111 SH   SOLE   169,111 0 0
ATI INC COM 01741R102   288,137 7,302 SH   SOLE   7,302 0 0
ATLANTICA SUSTAINABLE INFR P SHS G0751N103   2,972,081 100,544 SH   SOLE   100,544 0 0
B2GOLD CORP COM 11777Q209   12,248,257 3,107,403 SH   SOLE   3,107,403 0 0
BAKER HUGHES COMPANY CL A 05722G100   715,007 24,775 SH   SOLE   24,775 0 0
BARRICK GOLD CORP COM 067901108   302,672 16,299 SH   SOLE   16,299 0 0
BAYTEX ENERGY CORP COM 07317Q105   5,322,142 1,419,900 SH   SOLE   1,419,900 0 0
BEYOND MEAT INC COM 08862E109   5,380,894 331,540 SH   SOLE   331,540 0 0
BHP GROUP LTD SPONSORED ADS 088606108   282,111 4,449 SH   SOLE   4,449 0 0
BLOOM ENERGY CORP COM CL A 093712107   179,270 8,995 SH   SOLE   8,995 0 0
BP PLC SPONSORED ADR 055622104   727,917 19,186 SH   SOLE   19,186 0 0
BUNGE LIMITED COM G16962105   6,370,420 66,692 SH   SOLE   66,692 0 0
CAL MAINE FOODS INC COM NEW 128030202   2,266,387 37,221 SH   SOLE   37,221 0 0
CALIFORNIA WTR SVC GROUP COM 130788102   2,095,142 35,999 SH   SOLE   35,999 0 0
CALLON PETE CO DEL COM 13123X508   2,386,947 71,380 SH   SOLE   71,380 0 0
CANADIAN NAT RES LTD COM 136385101   1,468,935 26,565 SH   SOLE   26,565 0 0
CANADIAN SOLAR INC COM 136635109   3,108,604 78,086 SH   SOLE   78,086 0 0
CENOVUS ENERGY INC COM 15135U109   3,584,162 205,600 SH   SOLE   205,600 0 0
CENTERRA GOLD INC COM 152006102   1,974,306 305,900 SH   SOLE   305,900 0 0
CENTURY ALUM CO COM 156431108   176,440 17,644 SH   SOLE   17,644 0 0
CF INDS HLDGS INC COM 125269100   2,593,620 35,779 SH   SOLE   35,779 0 0
CHAMPIONX CORPORATION COM 15872M104   1,447,087 53,339 SH   SOLE   53,339 0 0
CHEMOURS CO COM 163851108   2,730,259 91,191 SH   SOLE   91,191 0 0
CHEVRON CORP NEW COM 166764100   1,235,611 7,573 SH   SOLE   7,573 0 0
CHORD ENERGY CORPORATION COM NEW 674215207   2,261,011 16,798 SH   SOLE   16,798 0 0
CIVITAS RESOURCES INC COM NEW 17888H103   2,963,291 43,361 SH   SOLE   43,361 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101   429,802 23,448 SH   SOLE   23,448 0 0
CNH INDL N V SHS N20944109   4,954,764 324,477 SH   SOLE   324,477 0 0
CNX RES CORP COM 12653C108   290,234 18,117 SH   SOLE   18,117 0 0
COEUR MNG INC COM NEW 192108504   1,091,959 273,674 SH   SOLE   273,674 0 0
COMMERCIAL METALS CO COM 201723103   1,489,201 30,454 SH   SOLE   30,454 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102   2,174,853 217,268 SH   SOLE   217,268 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104   1,250,354 152,855 SH   SOLE   152,855 0 0
COMPASS MINERALS INTL INC COM 20451N101   1,550,285 45,211 SH   SOLE   45,211 0 0
COMSTOCK RES INC COM 205768302   1,473,008 136,516 SH   SOLE   136,516 0 0
CONOCOPHILLIPS COM 20825C104   2,568,051 25,885 SH   SOLE   25,885 0 0
CORE LABORATORIES N V COM N22717107   1,639,726 74,364 SH   SOLE   74,364 0 0
CORTEVA INC COM 22052L104   5,923,528 98,218 SH   SOLE   98,218 0 0
COTERRA ENERGY INC COM 127097103   1,646,192 67,082 SH   SOLE   67,082 0 0
CRESCENT ENERGY COMPANY CL A COM 44952J104   1,086,778 96,090 SH   SOLE   96,090 0 0
CRESCENT PT ENERGY CORP COM 22576C101   6,410,401 908,900 SH   SOLE   908,900 0 0
DAQO NEW ENERGY CORP SPNSRD ADS NEW 23703Q203   2,610,065 55,723 SH   SOLE   55,723 0 0
DARLING INGREDIENTS INC COM 237266101   2,594,245 44,422 SH   SOLE   44,422 0 0
DEERE & CO COM 244199105   5,985,521 14,497 SH   SOLE   14,497 0 0
DEVON ENERGY CORP NEW COM 25179M103   4,109,228 81,194 SH   SOLE   81,194 0 0
EARTHSTONE ENERGY INC CL A 27032D304   1,150,813 88,456 SH   SOLE   88,456 0 0
ELDORADO GOLD CORP NEW COM 284902509   534,369 51,580 SH   SOLE   51,580 0 0
ENERPLUS CORP COM 292766102   729,636 50,634 SH   SOLE   50,634 0 0
ENI S P A SPONSORED ADR 26874R108   1,841,112 65,754 SH   SOLE   65,754 0 0
ENPHASE ENERGY INC COM 29355A107   1,793,899 8,531 SH   SOLE   8,531 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107   281,015 10,850 SH   SOLE   10,850 0 0
EOG RES INC COM 26875P101   2,257,065 19,690 SH   SOLE   19,690 0 0
EQT CORP COM 26884L109   1,230,928 38,575 SH   SOLE   38,575 0 0
EQUINOR ASA SPONSORED ADR 29446M102   255,188 8,976 SH   SOLE   8,976 0 0
EQUINOX GOLD CORP COM 29446Y502   761,325 147,830 SH   SOLE   147,830 0 0
ERO COPPER CORP COM 296006109   482,573 27,300 SH   SOLE   27,300 0 0
ESSENTIAL UTILS INC COM 29670G102   1,857,482 42,554 SH   SOLE   42,554 0 0
EXPRO GROUP HOLDINGS NV COM N3144W105   1,051,000 57,244 SH   SOLE   57,244 0 0
EXXON MOBIL CORP COM 30231G102   1,536,556 14,012 SH   SOLE   14,012 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103   841,955 116,776 SH   SOLE   116,776 0 0
FIRST SOLAR INC COM 336433107   2,855,993 13,131 SH   SOLE   13,131 0 0
FLEX LNG LTD SHS G35947202   713,239 21,240 SH   SOLE   21,240 0 0
FMC CORP COM NEW 302491303   6,555,083 53,673 SH   SOLE   53,673 0 0
FRANCO NEV CORP COM 351858105   3,282,979 22,517 SH   SOLE   22,517 0 0
FREEPORT-MCMORAN INC CL B 35671D857   2,110,751 51,595 SH   SOLE   51,595 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106   8,466,698 635,638 SH   SOLE   635,638 0 0
GREEN PLAINS INC COM 393222104   1,162,559 37,514 SH   SOLE   37,514 0 0
HALLIBURTON CO COM 406216101   1,762,569 55,707 SH   SOLE   55,707 0 0
HECLA MNG CO COM 422704106   506,944 80,086 SH   SOLE   80,086 0 0
HELMERICH & PAYNE INC COM 423452101   1,233,053 34,491 SH   SOLE   34,491 0 0
HESS CORP COM 42809H107   694,653 5,249 SH   SOLE   5,249 0 0
HF SINCLAIR CORP COM 403949100   1,080,809 22,340 SH   SOLE   22,340 0 0
HORMEL FOODS CORP COM 440452100   3,136,442 78,647 SH   SOLE   78,647 0 0
HUDBAY MINERALS INC COM 443628102   2,370,792 452,300 SH   SOLE   452,300 0 0
ICL GROUP LTD SHS M53213100   1,143,155 168,111 SH   SOLE   168,111 0 0
IMPERIAL OIL LTD COM NEW 453038408   2,992,832 58,900 SH   SOLE   58,900 0 0
INGREDION INC COM 457187102   6,001,460 58,994 SH   SOLE   58,994 0 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100   1,845,444 36,171 SH   SOLE   36,171 0 0
KINROSS GOLD CORP COM 496902404   4,323,563 917,954 SH   SOLE   917,954 0 0
KOSMOS ENERGY LTD COM 500688106   176,164 23,678 SH   SOLE   23,678 0 0
LIBERTY ENERGY INC COM CL A 53115L104   2,552,546 199,262 SH   SOLE   199,262 0 0
LIVENT CORP COM 53814L108   348,649 16,052 SH   SOLE   16,052 0 0
MAGNOLIA OIL & GAS CORP CL A 559663109   1,866,911 85,325 SH   SOLE   85,325 0 0
MARATHON OIL CORP COM 565849106   575,711 24,028 SH   SOLE   24,028 0 0
MARATHON PETE CORP COM 56585A102   3,330,975 24,705 SH   SOLE   24,705 0 0
MATADOR RES CO COM 576485205   3,525,576 73,989 SH   SOLE   73,989 0 0
MOSAIC CO NEW COM 61945C103   928,198 20,231 SH   SOLE   20,231 0 0
MP MATERIALS CORP COM CL A 553368101   535,103 18,982 SH   SOLE   18,982 0 0
MRC GLOBAL INC COM 55345K103   991,139 101,969 SH   SOLE   101,969 0 0
MURPHY OIL CORP COM 626717102   2,863,398 77,431 SH   SOLE   77,431 0 0
NEWMONT CORP COM 651639106   7,688,395 156,842 SH   SOLE   156,842 0 0
NEXGEN ENERGY LTD COM 65340P106   1,089,699 284,000 SH   SOLE   284,000 0 0
NORTHERN OIL AND GAS INC MN COM 665531307   200,219 6,597 SH   SOLE   6,597 0 0
NOV INC COM 62955J103   666,230 35,993 SH   SOLE   35,993 0 0
NOW INC COM 67011P100   941,874 84,473 SH   SOLE   84,473 0 0
NUCOR CORP COM 670346105   1,539,911 9,969 SH   SOLE   9,969 0 0
NUTRIEN LTD COM 67077M108   2,910,233 39,432 SH   SOLE   39,432 0 0
OCEANEERING INTL INC COM 675232102   1,875,850 106,401 SH   SOLE   106,401 0 0
PAN AMERN SILVER CORP COM 697900108   464,126 25,502 SH   SOLE   25,502 0 0
PATTERSON-UTI ENERGY INC COM 703481101   2,095,154 179,073 SH   SOLE   179,073 0 0
PDC ENERGY INC COM 69327R101   2,123,845 33,092 SH   SOLE   33,092 0 0
PENTAIR PLC SHS G7S00T104   1,124,247 20,341 SH   SOLE   20,341 0 0
PERMIAN RESOURCES CORP CLASS A COM 71424F105   680,831 64,841 SH   SOLE   64,841 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408   1,114,977 106,901 SH   SOLE   106,901 0 0
PHILLIPS 66 COM 718546104   862,744 8,510 SH   SOLE   8,510 0 0
PILGRIMS PRIDE CORP COM 72147K108   5,934,660 256,025 SH   SOLE   256,025 0 0
PIONEER NAT RES CO COM 723787107   4,131,979 20,231 SH   SOLE   20,231 0 0
POTLATCHDELTIC CORPORATION COM 737630103   1,749,132 35,336 SH   SOLE   35,336 0 0
PRECISION DRILLING CORP COM NEW 74022D407   225,915 4,400 SH   SOLE   4,400 0 0
PROPETRO HLDG CORP COM 74347M108   206,339 28,698 SH   SOLE   28,698 0 0
RANGE RES CORP COM 75281A109   899,133 33,968 SH   SOLE   33,968 0 0
RAYONIER INC COM 754907103   2,509,400 75,448 SH   SOLE   75,448 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102   1,591,788 6,200 SH   SOLE   6,200 0 0
RENEW ENERGY GLOBAL PLC CL A SHS G7500M104   326,663 58,125 SH   SOLE   58,125 0 0
RIO TINTO PLC SPONSORED ADR 767204100   2,295,219 33,458 SH   SOLE   33,458 0 0
ROYAL GOLD INC COM 780287108   628,704 4,847 SH   SOLE   4,847 0 0
RPC INC COM 749660106   809,373 105,250 SH   SOLE   105,250 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869   281,312 19,522 SH   SOLE   19,522 0 0
SCHLUMBERGER LTD COM STK 806857108   2,101,676 42,804 SH   SOLE   42,804 0 0
SJW GROUP COM 784305104   359,181 4,718 SH   SOLE   4,718 0 0
SM ENERGY CO COM 78454L100   5,508,744 195,623 SH   SOLE   195,623 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105   864,424 10,664 SH   SOLE   10,664 0 0
SOUTHERN COPPER CORP COM 84265V105   1,141,081 14,965 SH   SOLE   14,965 0 0
SOUTHWESTERN ENERGY CO COM 845467109   4,042,175 808,435 SH   SOLE   808,435 0 0
SSR MINING IN COM 784730103   3,409,258 225,481 SH   SOLE   225,481 0 0
STEEL DYNAMICS INC COM 858119100   788,933 6,978 SH   SOLE   6,978 0 0
SUNCOKE ENERGY INC COM 86722A103   441,376 49,151 SH   SOLE   49,151 0 0
SUNCOR ENERGY INC NEW COM 867224107   2,373,109 76,500 SH   SOLE   76,500 0 0
SUNPOWER CORP COM 867652406   289,823 20,941 SH   SOLE   20,941 0 0
TALOS ENERGY INC COM 87484T108   3,371,544 227,193 SH   SOLE   227,193 0 0
TECK RESOURCES LTD CL B 878742204   5,277,226 144,582 SH   SOLE   144,582 0 0
TERNIUM SA SPONSORED ADS 880890108   2,655,329 64,356 SH   SOLE   64,356 0 0
TIDEWATER INC NEW COM 88642R109   1,363,615 30,935 SH   SOLE   30,935 0 0
TIMKENSTEEL CORPORATION COM 887399103   1,448,548 78,983 SH   SOLE   78,983 0 0
TOTALENERGIES SE SPONSORED ADS 89151E109   847,131 14,346 SH   SOLE   14,346 0 0
TPI COMPOSITES INC COM 87266J104   1,154,259 88,449 SH   SOLE   88,449 0 0
TRANSOCEAN LTD REG SHS H8817H100   137,242 21,579 SH   SOLE   21,579 0 0
TRONOX HOLDINGS PLC SHS G9087Q102   178,384 12,405 SH   SOLE   12,405 0 0
TYSON FOODS INC CL A 902494103   5,606,452 94,512 SH   SOLE   94,512 0 0
U S SILICA HLDGS INC COM 90346E103   1,861,446 155,900 SH   SOLE   155,900 0 0
UNITED STATES STL CORP NEW COM 912909108   3,394,566 130,060 SH   SOLE   130,060 0 0
VALE S A SPONSORED ADS 91912E105   1,204,046 76,302 SH   SOLE   76,302 0 0
VALERO ENERGY CORP COM 91913Y100   2,237,090 16,025 SH   SOLE   16,025 0 0
VERMILION ENERGY INC COM 923725105   6,232,430 480,900 SH   SOLE   480,900 0 0
VIPER ENERGY PARTNERS LP COM UNT RP INT 92763M105   1,009,932 36,069 SH   SOLE   36,069 0 0
VITAL ENERGY INC COM 516806205   2,003,669 43,998 SH   SOLE   43,998 0 0
W & T OFFSHORE INC COM 92922P106   2,783,754 547,983 SH   SOLE   547,983 0 0
WARRIOR MET COAL INC COM 93627C101   2,516,911 68,562 SH   SOLE   68,562 0 0
WEYERHAEUSER CO MTN BE COM NEW 962166104   1,159,643 38,488 SH   SOLE   38,488 0 0
WHEATON PRECIOUS METALS CORP COM 962879102   826,570 17,163 SH   SOLE   17,163 0 0
WORTHINGTON INDS INC COM 981811102   272,564 4,216 SH   SOLE   4,216 0 0
YAMANA GOLD INC COM 98462Y100   2,831,394 483,999 SH   SOLE   483,999 0 0