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
ALGOMA STL GROUP INC COM 015658107   42,514,499 5,007,597 SH   SOLE   5,007,597 0 0
ARCHER DANIELS MIDLAND CO COM 039483102   3,351,667 53,362 SH   SOLE   53,362 0 0
ATLAS LITHIUM CORP COM NEW 105861306   2,733,276 160,592 SH   SOLE   160,592 0 0
BAYTEX ENERGY CORP COM 07317Q105   3,787,905 1,043,500 SH   SOLE   1,043,500 0 0
CF INDS HLDGS INC COM 125269100   4,926,032 59,200 SH   SOLE   59,200 0 0
CHESAPEAKE ENERGY CORP COM 165167735   1,492,344 16,800 SH   SOLE   16,800 0 0
CORTEVA INC COM 22052L104   3,114,180 54,000 SH   SOLE   54,000 0 0
CRESCENT ENERGY COMPANY CL A COM 44952J104   3,024,433 254,154 SH   SOLE   254,154 0 0
DOW INC COM 260557103   4,049,307 69,900 SH   SOLE   69,900 0 0
FERROGLOBE PLC SHS G33856108   6,016,552 1,208,143 SH   SOLE   1,208,143 0 0
FREEPORT-MCMORAN INC CL B 35671D857   6,300,680 134,000 SH   SOLE   134,000 0 0
GEVO INC COM PAR 374396406   1,832,796 2,384,280 SH   SOLE   2,384,280 0 0
LITHIUM AMERICAS ARGENTINA C COM SHS 53681K100   3,249,011 602,785 SH   SOLE   602,785 0 0
MARATHON PETE CORP COM 56585A102   21,317,894 105,796 SH   SOLE   105,796 0 0
MOSAIC CO NEW COM 61945C103   3,405,054 104,900 SH   SOLE   104,900 0 0
NUTRIEN LTD COM 67077M108   1,982,315 36,500 SH   SOLE   36,500 0 0
PAR PAC HOLDINGS INC COM NEW 69888T207   13,818,414 372,866 SH   SOLE   372,866 0 0
PBF ENERGY INC CL A 69318G106   3,236,988 56,227 SH   SOLE   56,227 0 0
PEABODY ENERGY CORP COM 704551100   49,120,896 2,024,769 SH   SOLE   2,024,769 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506   9,592,056 101,600 SH   SOLE   101,600 0 0
SIGMA LITHIUM CORPORATION COM 826599102   8,488,269 654,959 SH   SOLE   654,959 0 0
SIGMA LITHIUM CORPORATION CALL 826599902   4,511,376 348,100 SH Call SOLE   348,100 0 0
SILVERBOW RES INC COM 82836G102   18,129,023 531,020 SH   SOLE   531,020 0 0
TECK RESOURCES LTD CL B 878742204   6,283,671 137,258 SH   SOLE   137,258 0 0
TRINSEO PLC SHS G9059U107   626,403 165,715 SH   SOLE   165,715 0 0
VALERO ENERGY CORP COM 91913Y100   2,611,557 15,300 SH   SOLE   15,300 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   13,938,377 28,996 SH   SOLE   28,996 0 0