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
ALAMOS GOLD INC NEW COM CL A 011532108 837 104,200 SH   DFND 1,2 104,200 0 0
ALBEMARLE CORP COM 012653101 2,900 27,450 SH   DFND 1,2 27,450 0 0
ANADARKO PETE CORP COM 032511107 7,127 114,946 SH   DFND 1,2 114,946 0 0
ASANKO GOLD INC COM 04341Y105 674 258,200 SH   DFND 1,2 258,200 0 0
CABOT OIL & GAS CORP COM 127097103 5,077 212,322 SH   DFND 1,2 212,322 0 0
CALLON PETE CO DEL COM 13123X102 762 57,900 SH   DFND 1,2 57,900 0 0
CALLON PETE CO DEL COM 13123X102 1,316 100,000 SH Call DFND 1,2 100,000 0 0
CF INDS HLDGS INC COM 125269100 1,007 34,300 SH   DFND 1,2 34,300 0 0
CHENIERE ENERGY INC COM NEW 16411R208 1,578 33,380 SH   DFND 1,2 33,380 0 0
COBALT INTL ENERGY INC NOTE 2.625%12/0 19075FAA4 670 2,000,000 PRN   DFND 1,2 2,000,000 0 0
CONCHO RES INC COM 20605P101 4,122 32,117 SH   DFND 1,2 32,117 0 0
CONTINENTAL RESOURCES INC COM 212015101 7,088 156,046 SH   DFND 1,2 156,046 0 0
DIAMONDBACK ENERGY INC COM 25278X109 6,094 58,755 SH   DFND 1,2 58,755 0 0
EARTHSTONE ENERGY INC COM NEW 27032D205 2,159 169,200 SH   DFND 1,2 169,200 0 0
ENERGEN CORP COM 29265N108 5,002 91,876 SH   DFND 1,2 91,876 0 0
EXXON MOBIL CORP COM 30231G102 4,183 51,008 SH   DFND 1,2 51,008 0 0
FRANCO NEVADA CORP COM 351858105 2,082 31,780 SH   DFND 1,2 31,780 0 0
GOLAR LNG LTD BERMUDA SHS G9456A100 1,881 67,350 SH   DFND 1,2 67,350 0 0
GRAN TIERRA ENERGY INC COM 38500T101 1,597 604,800 SH   DFND 1,2 604,800 0 0
HALLIBURTON CO COM 406216101 3,327 67,601 SH   DFND 1,2 67,601 0 0
HUDBAY MINERALS INC COM 443628102 1,441 219,950 SH   DFND 1,2 219,950 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 1,647 95,500 SH   DFND 1,2 95,500 0 0
JONES ENERGY INC COM CL A 48019R108 1,333 522,598 SH   DFND 1,2 522,598 0 0
NEVSUN RES LTD COM 64156L101 353 138,000 SH   DFND 1,2 138,000 0 0
OASIS PETE INC NEW COM 674215108 2,878 201,802 SH   DFND 1,2 201,802 0 0
PDC ENERGY INC COM 69327R101 3,251 52,145 SH   DFND 1,2 52,145 0 0
PIONEER NAT RES CO COM 723787107 5,248 28,182 SH   DFND 1,2 28,182 0 0
PRECISION DRILLING CORP COM 2010 74022D308 2,171 460,000 SH   DFND 1,2 460,000 0 0
PRETIUM RES INC COM 74139C102 1,136 106,100 SH   DFND 1,2 106,100 0 0
QEP RES INC COM 74733V100 1,509 118,718 SH   DFND 1,2 118,718 0 0
QEP RES INC COM 74733V100 1,271 100,000 SH Call DFND 1,2 100,000 0 0
RANGE RES CORP COM 75281A109 1,651 56,744 SH   DFND 1,2 56,744 0 0
RIO TINTO PLC SPONSORED ADR 767204100 889 21,864 SH   DFND 1,2 21,864 0 0
RSP PERMIAN INC COM 74978Q105 2,649 63,950 SH   DFND 1,2 63,950 0 0
SCHLUMBERGER LTD COM 806857108 3,947 50,540 SH   DFND 1,2 50,540 0 0
SILVER WHEATON CORP COM 828336107 2,077 99,670 SH   DFND 1,2 99,670 0 0
SM ENERGY CO COM 78454L100 2,148 89,444 SH   DFND 1,2 89,444 0 0
TAHOE RES INC COM 873868103 704 87,700 SH   DFND 1,2 87,700 0 0
TEXAS PAC LD TR SUB CTF PROP I T 882610108 1,860 6,650 SH   DFND 1,2 6,650 0 0
WEATHERFORD INTL PLC ORD SHS G48833100 3,403 511,700 SH   DFND 1,2 511,700 0 0