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
ABRDN PALLADIUM ETF TRUST PHYSICAL PALLADM 003262102 BBG001T6GDX0 13,363,500 150,000 SH   SOLE   150,000 0 0
ANTERO RESOURCES CORP COM 03674X106 BBG001T61KH8 114,884,422 3,520,822 SH   SOLE   3,520,822 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203 BBG001S8JFB3 58,242,200 2,540,000 SH   SOLE   2,540,000 0 0
CHORD ENERGY CORPORATION COM NEW 674215207 BBG00Y7BLJF2 81,492,145 485,998 SH   SOLE   485,998 0 0
CNX RES CORP COM 12653C108 BBG001SC7TN4 19,351,499 796,358 SH   SOLE   796,358 0 0
COMSTOCK RES INC COM 205768302 BBG001S8FX55 125,857,500 12,125,000 SH   SOLE   12,125,000 0 0
COTERRA ENERGY INC COM 127097103 BBG001S6H6Y4 34,837,874 1,306,257 SH   SOLE   1,306,257 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C201 BBG010JCFCF2 129,821,690 8,381,000 SH   SOLE   8,381,000 0 0
ENOVIX CORPORATION COM 293594107 BBG00YC538B7 1,004,900 65,000 SH   SOLE   65,000 0 0
EQUITRANS MIDSTREAM CORP COM 294600101 BBG00K53L401 98,688,433 7,603,115 SH   SOLE   7,603,115 0 0
GENERAL MTRS CO COM 37045V100 BBG001SM1DK6 3,252,200 70,000 SH   SOLE   70,000 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 BBG001S90195 24,375,300 930,000 SH   SOLE   930,000 0 0
HF SINCLAIR CORP COM 403949100 BBG0135B2269 15,957,834 299,172 SH   SOLE   299,172 0 0
MURPHY OIL CORP COM 626717102 BBG001S5TG80 32,992,000 800,000 SH   SOLE   800,000 0 0
NEXGEN ENERGY LTD COM 65340P106 BBG00334PFM6 3,254,926 467,000 SH   SOLE   467,000 0 0
NOBLE CORP PLC ORD SHS A G65431127 BBG018KBK3H7 44,361,606 993,541 SH   SOLE   993,541 0 0
OCCIDENTAL PETE CORP COM 674599105 BBG001S5TZG9 5,294,520 84,000 SH   SOLE   84,000 0 0
PEABODY ENERGY CORP COM 704551100 BBG00GBV89J5 26,477,640 1,197,000 SH   SOLE   1,197,000 0 0
PERMIAN RESOURCES CORP CLASS A COM 71424F105 BBG00D61Y2G3 28,352,795 1,755,591 SH   SOLE   1,755,591 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 BBG001SFJFD5 18,073,000 1,325,000 SH   SOLE   1,325,000 0 0
PLAINS GP HLDGS L P LTD PARTNR INT A 72651A207 BBG001SZV282 7,150,565 379,945 SH   SOLE   379,945 0 0
RANGE RES CORP COM 75281A109 BBG001SBZNN8 203,862,400 6,080,000 SH   SOLE   6,080,000 0 0
SOUTHWESTERN ENERGY CO COM 845467109 BBG001S5WHW7 118,098,040 17,548,000 SH   SOLE   17,548,000 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 BBG002DMRZ32 684,193 70,030 SH   SOLE   70,030 0 0
SUNCOR ENERGY INC NEW COM 867224107 BBG001S5YSF0 40,628,274 1,066,353 SH   SOLE   1,066,353 0 0
SUNNOVA ENERGY INTL INC. COM 86745K104 BBG00PLQ1KH9 99,658,800 1,900,000 SH Put SOLE   1,900,000 0 0
SUNRUN INC COM 86771W105 BBG0025XVR94 77,090,000 6,500,000 SH Put SOLE   6,500,000 0 0
UNITED STATES STL CORP NEW COM 912909108 BBG001S5XL75 160,839,000 4,255,000 SH   SOLE   4,255,000 0 0
VALARIS LTD CL A G9460G101 BBG010JW9K58 47,307,500 635,000 SH   SOLE   635,000 0 0
WARRIOR MET COAL INC COM 93627C101 BBG00GD1JNK4 158,233,001 2,520,838 SH   SOLE   2,520,838 0 0
WEST FRASER TIMBER CO LTD COM 952845105 BBG001S60WD8 14,399,054 187,452 SH   SOLE   187,452 0 0