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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ARCH RESOURCES INC CL A 03940R107   19,097,710 125,453 SH   SOLE   125,453 0 0
BATH & BODY WORKS INC COM 070830104   48,132,640 1,232,590 SH   SOLE   1,232,590 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300   17,997,408 961,400 SH   SOLE   961,400 0 0
CHEMOURS CO COM 163851108   19,088,081 845,728 SH   SOLE   845,728 0 0
CORE & MAIN INC CL A 21874C102   46,403,391 948,169 SH   SOLE   948,169 0 0
FIRST SOLAR INC COM 336433107   30,962,196 137,329 SH   SOLE   137,329 0 0
FRONTLINE PLC COM M46528101   36,834,456 1,429,909 SH   SOLE   1,429,909 0 0
GE VERNOVA INC COM 36828A101   24,543,081 143,100 SH   SOLE   143,100 0 0
MATSON INC COM 57686G105   30,444,631 232,455 SH   SOLE   232,455 0 0
PG&E CORP COM 69331C108   27,551,007 1,577,950 SH   SOLE   1,577,950 0 0
REGAL REXNORD CORPORATION COM 758750103   35,550,690 262,910 SH   SOLE   262,910 0 0
ROYAL CARIBBEAN GROUP COM V7780T103   35,038,091 219,771 SH   SOLE   219,771 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109   16,231,206 493,800 SH   SOLE   493,800 0 0
TECK RESOURCES LTD CL B 878742204   33,313,971 695,490 SH   SOLE   695,490 0 0
TEMPUR SEALY INTL INC COM 88023U101   40,604,559 857,722 SH   SOLE   857,722 0 0
UBER TECHNOLOGIES INC COM 90353T100   44,827,425 616,778 SH   SOLE   616,778 0 0
UNITED STATES STL CORP NEW COM 912909108   22,769,888 602,378 SH   SOLE   602,378 0 0
VIKING HOLDINGS LTD ORD SHS G93A5A101   58,007,736 1,709,126 SH   SOLE   1,709,126 0 0
VISTRA CORP COM 92840M102   46,005,663 535,074 SH   SOLE   535,074 0 0
WALMART INC COM 931142103   44,920,642 663,427 SH   SOLE   663,427 0 0
WARRIOR MET COAL INC COM 93627C101   13,245,349 211,014 SH   SOLE   211,014 0 0
XPO INC COM 983793100   30,833,284 290,469 SH   SOLE   290,469 0 0