Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
HOG	HARLEY DAVIDSON INC	3,208,199	$121M	9.5%	$37.69	$34.12	+9.4%	COM	412822108
WFG	WEST FRASER TIMBER CO LTD	1,238,439	$118M	9.3%	$95.41 *	$68.49	+26.3%	COM	952845105
RIO	RIO TINTO PLC	1,360,649	$91.08M	7.2%	$66.94	$53.07	—	SPONSORED ADR	767204100
DVN	DEVON ENERGY CORP NEW	1,910,347	$84.15M	6.6%	$44.05 *	$11.45	+193.6%	COM	25179M103
DAC	DANAOS CORPORATION	974,041	$72.71M	5.7%	$74.65 *	$30.93	+100.7%	SHS	Y1968P121
BC	BRUNSWICK CORP	689,456	$69.45M	5.5%	$100.73 *	$91.00	-1.6%	COM	117043109
NVR	NVR INC	11,002	$65.01M	5.1%	$5908.83 *	$2215.16	+138.3%	COM	62944T105
LPX	LOUISIANA PAC CORP	757,883	$59.38M	4.7%	$78.35 *	$28.40	+141.3%	COM	546347105
ANF	ABERCROMBIE & FITCH CO	1,124,457	$39.16M	3.1%	$34.83 *	$38.89	+0.4%	CL A	002896207
RIO	RIO TINTO PLC	547,200	$36.63M	2.9%	$66.94	$53.07	—	Call	767204100
UFI	UNIFI INC	1,489,240	$34.48M	2.7%	$23.15	$25.22	-9.6%	COM NEW	904677200
—	HESS CORP	452,435	$33.49M	2.6%	$74.03	$70.31	—	COM	42809H107
COP	CONOCOPHILLIPS	457,160	$33M	2.6%	$72.18 *	$62.64	0.0%	COM	20825C104
OLN	OLIN CORP	549,764	$31.62M	2.5%	$57.52 *	$42.10	+22.6%	COM PAR $1	680665205
ERO	ERO COPPER CORP	2,020,962	$30.84M	2.4%	$15.26 *	$18.47	-6.4%	COM	296006109
ZIM	ZIM INTEGRATED SHIPPING SERV	465,458	$27.4M	2.2%	$58.86 *	$20.61	+148.4%	SHS	M9T951109
KNX	KNIGHT-SWIFT TRANSN HLDGS IN	409,640	$24.96M	2.0%	$60.94 *	$53.96	0.0%	CL A	499049104
GOOGL	ALPHABET INC	8,599	$24.91M	2.0%	$2897.08 *	$136.82	+4.5%	CAP STK CL A	02079K305
VSCO	VICTORIAS SECRET AND CO	443,000	$24.6M	1.9%	$55.54 *	$52.11	0.0%	COMMON STOCK	926400102
KBH	KB HOME	505,400	$22.61M	1.8%	$44.73 *	$38.81	+0.7%	COM	48666K109
CENX	CENTURY ALUM CO	1,336,490	$22.13M	1.7%	$16.56 *	$12.39	+18.1%	COM	156431108
DHT	DHT HOLDINGS INC	3,751,900	$19.47M	1.5%	$5.19 *	$4.53	-0.1%	SHS NEW	Y2065G121
—	MASONITE INTL CORP	162,600	$19.18M	1.5%	$117.95	$112.41	—	COM	575385109
SBLK	STAR BULK CARRIERS CORP.	652,500	$14.79M	1.2%	$22.67 *	$11.76	+78.9%	SHS PAR	Y8162K204
PLCE	CHILDRENS PL INC NEW	179,400	$14.22M	1.1%	$79.29 *	$87.92	0.0%	COM	168905107
FLR	FLUOR CORP NEW	482,500	$11.95M	0.9%	$24.77 *	$21.28	0.0%	COM	343412102
TFII	TFI INTL INC	98,000	$10.99M	0.9%	$112.11 *	$106.98	+1.7%	COM	87241L109
SLB	SCHLUMBERGER LTD	353,617	$10.59M	0.8%	$29.95 *	$17.82	+61.1%	COM STK	806857108
ADNT	ADIENT PLC	220,500	$10.56M	0.8%	$47.88 *	$25.95	+72.9%	ORD SHS	G0084W101
UPS	UNITED PARCEL SERVICE INC	49,000	$10.5M	0.8%	$214.35 *	$168.57	0.0%	CL B	911312106
DOO	BRP INC	103,880	$9.099M	0.7%	$87.59 *	$83.23	+0.5%	COM SUN VTG	05577W200
—	SIX FLAGS ENTMT CORP NEW	195,020	$8.304M	0.7%	$42.58	$42.58	—	COM	83001A102
TCKRF	TECK COMINCO LTD A SHARES	266,839	$8.059M	0.6%	$30.20 *	$19.22	+53.9%	CL A	878742303
—	WILLIAMS ROWLAND ACQUISITION	708,305	$7.161M	0.6%	$10.11	$10.15	—	UNIT 99/99/9999	96951B201
AER	AERCAP HOLDINGS NV	100,000	$6.542M	0.5%	$65.42 *	$52.77	+15.5%	SHS	N00985106
HOG	HARLEY DAVIDSON INC	140,900	$5.311M	0.4%	$37.69	$34.12	+9.4%	Call	412822108
BCS	BARCLAYS PLC	500,000	$5.175M	0.4%	$10.35	—	—	Call	06738E204
HGV	HILTON GRAND VACATIONS INC	89,200	$4.648M	0.4%	$52.11 *	$33.83	+47.8%	COM	43283X105
SONY	SONY GROUP CORPORATION	35,280	$4.459M	0.4%	$126.39	$109.16	—	SPONSORED ADR	835699307
FCX	FREEPORT-MCMORAN INC	97,500	$4.069M	0.3%	$41.73 *	$33.08	+8.2%	CL B	35671D857
—	ARCH RESOURCES INC	42,080	$3.843M	0.3%	$91.33	$92.00	—	CL A	03940R107
THO	THOR INDS INC	36,970	$3.836M	0.3%	$103.76 *	$115.44	-14.1%	COM	885160101
BKE	BUCKLE INC	71,700	$3.034M	0.2%	$42.32 *	$28.01	0.0%	COM	118440106
HAL	HALLIBURTON CO	105,840	$2.421M	0.2%	$22.87 *	$21.79	0.0%	COM	406216101
MRNA	MODERNA INC	4,900	$1.245M	0.1%	$254.08 *	$368.80	-20.7%	COM	60770K107