Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MOS	MOSAIC CO NEW	109,977	$3.085M	2.1%	$24.15	-1.0%	COM	61945C103
VLO	VALERO ENERGY CORP NEW	21,916	$2.429M	1.6%	$33.39	+147.3%	COM	91913Y100
SQM	SOCIEDAD QUIMICA MINERA DE C	50,103	$2.407M	1.6%	$34.36	—	SPON ADR SER B	833635105
MPC	MARATHON PETE CORP	33,788	$2.371M	1.6%	$33.16	+81.0%	COM	56585A102
—	BUNGE LIMITED	33,800	$2.356M	1.6%	$75.81	—	COM	G16962105
INGR	INGREDION INC	20,618	$2.282M	1.5%	$115.06	+2.2%	COM	457187102
—	CRESCENT PT ENERGY CORP	308,678	$2.269M	1.5%	$8.31	—	COM	22576C101
RIO	RIO TINTO PLC	40,845	$2.266M	1.5%	$51.31	—	SPONSORED ADR	767204100
CF	CF INDS HLDGS INC	49,250	$2.187M	1.5%	$33.21	+1.5%	COM	125269100
—	HOLLYFRONTIER CORP	30,550	$2.091M	1.4%	$46.20	—	COM	436106108
—	RANDGOLD RES LTD	26,532	$2.045M	1.4%	$82.73	—	ADR	752344309
MUR	MURPHY OIL CORP	59,051	$1.994M	1.3%	$21.71	+7.7%	COM	626717102
SU	SUNCOR ENERGY INC NEW	47,110	$1.918M	1.3%	$29.19	0.0%	COM	867224107
VET	VERMILION ENERGY INC	50,574	$1.824M	1.2%	$36.86	-6.1%	COM	923725105
AGCO	AGCO CORP	29,923	$1.817M	1.2%	$55.01	-4.9%	COM	001084102
XOM	EXXON MOBIL CORP	21,466	$1.776M	1.2%	$56.71	-1.0%	COM	30231G102
DE	DEERE & CO	12,438	$1.739M	1.2%	$124.34	+5.6%	COM	244199105
VALE	VALE S A	126,907	$1.627M	1.1%	$11.53	—	ADR	91912E105
AEM	AGNICO EAGLE MINES LTD	35,086	$1.608M	1.1%	$36.45	+2.9%	COM	008474108
—	REXNORD CORP NEW	55,208	$1.604M	1.1%	$29.51	—	COM	76169B102
—	PDC ENERGY INC	26,376	$1.594M	1.1%	$57.90	—	COM	69327R101
CVE	CENOVUS ENERGY INC	152,950	$1.589M	1.1%	$11.85	-26.2%	COM	15135U109
CNQ	CANADIAN NAT RES LTD	44,017	$1.588M	1.1%	$11.72	0.0%	COM	136385101
FCX	FREEPORT-MCMORAN INC	91,916	$1.586M	1.1%	$15.42	0.0%	CL B	35671D857
CALM	CAL MAINE FOODS INC	34,476	$1.581M	1.1%	$32.50	+13.2%	COM NEW	128030202
PAAS	PAN AMERICAN SILVER CORP	87,305	$1.563M	1.0%	$16.13	+6.9%	COM	697900108
GFI	GOLD FIELDS LTD NEW	434,687	$1.552M	1.0%	$3.91	—	SPONSORED ADR	38059T106
TECK	TECK RESOURCES LTD	60,596	$1.543M	1.0%	$21.99	+21.8%	CL B	878742204
OII	OCEANEERING INTL INC	60,142	$1.531M	1.0%	$34.10	-34.4%	COM	675232102
NEM	NEWMONT MINING CORP	40,181	$1.515M	1.0%	$31.35	0.0%	COM	651639106
BP	BP PLC	33,160	$1.514M	1.0%	$34.54	—	SPONSORED ADR	055622104
DVN	DEVON ENERGY CORP NEW	32,524	$1.43M	1.0%	$29.51	-6.5%	COM	25179M103
—	ROWAN COMPANIES PLC	87,084	$1.413M	0.9%	$14.10	—	SHS CL A	G7665A101
FMC	F M C CORP	15,796	$1.409M	0.9%	$60.76	-0.4%	COM NEW	302491303
—	ENERGEN CORP	19,210	$1.399M	0.9%	$62.02	—	COM	29265N108
—	RSP PERMIAN INC	31,200	$1.373M	0.9%	$39.64	—	COM	74978Q105
PPC	PILGRIMS PRIDE CORP NEW	65,998	$1.329M	0.9%	$24.66	-12.9%	COM	72147K108
PSX	PHILLIPS 66	11,620	$1.305M	0.9%	$43.93	+89.3%	COM	718546104
KGC	KINROSS GOLD CORP	345,940	$1.301M	0.9%	$3.90	-3.6%	COM NO PAR	496902404
—	NOBLE ENERGY INC	36,805	$1.298M	0.9%	$38.14	—	COM	655044105
WY	WEYERHAEUSER CO	35,561	$1.297M	0.9%	$21.42	+26.4%	COM	962166104
EOG	EOG RES INC	10,091	$1.256M	0.8%	$78.78	+10.7%	COM	26875P101
—	CALLON PETE CO DEL	114,179	$1.226M	0.8%	$13.38	—	COM	13123X102
IMO	IMPERIAL OIL LTD	36,846	$1.225M	0.8%	$24.91	+2.8%	COM NEW	453038408
FTI	TECHNIPFMC PLC	38,462	$1.221M	0.8%	$21.34	+3.6%	COM	G87110105
ADM	ARCHER DANIELS MIDLAND CO	26,613	$1.22M	0.8%	$31.18	+15.0%	COM	039483102
IAG	IAMGOLD CORP	208,069	$1.209M	0.8%	$5.49	+4.6%	COM	450913108
—	BARRICK GOLD CORP	89,385	$1.174M	0.8%	$14.15	—	COM	067901108
FNV	FRANCO NEVADA CORP	16,006	$1.169M	0.8%	$68.14	-3.5%	COM	351858105
—	AQUA AMERICA INC	32,044	$1.127M	0.8%	$34.37	—	COM	03836W103
—	ENERPLUS CORP	88,079	$1.111M	0.7%	$10.18	—	COM	292766102
RYN	RAYONIER INC	28,354	$1.097M	0.7%	$28.82	—	COM	754907103
—	CONTINENTAL RESOURCES INC	16,891	$1.094M	0.7%	$40.66	—	COM	212015101
DAR	DARLING INGREDIENTS INC	53,175	$1.057M	0.7%	$17.52	+3.4%	COM	237266101
EC	ECOPETROL S A	50,579	$1.039M	0.7%	$13.28	—	SPONSORED ADS	279158109
WPM	WHEATON PRECIOUS METALS CORP	46,317	$1.022M	0.7%	$18.55	+5.4%	COM	962879102
CMP	COMPASS MINERALS INTL INC	15,496	$1.019M	0.7%	$53.57	+0.4%	COM	20451N101
—	LAREDO PETROLEUM INC	104,124	$1.002M	0.7%	$9.80	—	COM	516806106
NTR	NUTRIEN LTD	18,109	$985K	0.7%	$38.36	-0.1%	COM	67077M108
HL	HECLA MNG CO	276,087	$961K	0.6%	$4.31	-15.1%	COM	422704106
SSRM	SSR MNG INC	95,447	$942K	0.6%	$9.69	+5.1%	COM	784730103
AR	ANTERO RES CORP	43,163	$922K	0.6%	$22.15	-11.4%	COM	03674X106
PCH	POTLATCHDELTIC CORPORATION	17,937	$912K	0.6%	$37.72	—	COM	737630103
—	NABORS INDUSTRIES LTD	141,247	$905K	0.6%	$6.41	—	SHS	G6359F103
OIS	OIL STS INTL INC	27,194	$873K	0.6%	$29.23	+15.1%	COM	678026105
—	CONCHO RES INC	6,271	$868K	0.6%	$145.39	—	COM	20605P101
SLB	SCHLUMBERGER LTD	12,918	$866K	0.6%	$57.59	-4.4%	COM	806857108
SBS	COMPANHIA DE SANEAMENTO BASI	142,660	$857K	0.6%	$5.24	—	SPONSORED ADR	20441A102
—	QEP RES INC	68,045	$834K	0.6%	$11.87	—	COM	74733V100
—	APACHE CORP	17,776	$831K	0.6%	$56.74	—	COM	037411105
—	ENCANA CORP	62,822	$820K	0.6%	$12.94	—	COM	292505104
—	UNITED STATES STL CORP NEW	23,204	$806K	0.5%	$35.16	—	COM	912909108
CNH	CNH INDL N V	74,510	$785K	0.5%	$10.32	-12.3%	SHS	N20944109
—	KOSMOS ENERGY LTD	93,760	$775K	0.5%	$7.37	—	SHS	G5315B107
MTDR	MATADOR RES CO	25,602	$769K	0.5%	$25.46	+18.5%	COM	576485205
—	CENTENNIAL RESOURCE DEV INC	42,472	$767K	0.5%	$19.41	—	CL A	15136A102
—	DIAMOND OFFSHORE DRILLING IN	36,464	$761K	0.5%	$20.87	—	COM	25271C102
GGB	GERDAU S A	211,211	$748K	0.5%	$3.42	—	SPON ADR REP PFD	373737105
—	AK STL HLDG CORP	162,132	$704K	0.5%	$5.78	—	COM	001547108
—	SCHNITZER STL INDS	20,228	$682K	0.5%	$27.04	—	CL A	806882106
CCJ	CAMECO CORP	59,020	$664K	0.4%	$11.70	-9.6%	COM	13321L108
—	CNOOC LTD	3,856	$660K	0.4%	$128.27	—	SPONSORED ADR	126132109
ARLP	ALLIANCE RES PARTNER L P	35,693	$655K	0.4%	$20.15	—	UT LTD PART	01877R108
CRS	CARPENTER TECHNOLOGY CORP	12,448	$654K	0.4%	$35.71	+32.5%	COM	144285103
HBM	HUDBAY MINERALS INC	113,700	$634K	0.4%	$6.25	+8.8%	COM	443628102
TSN	TYSON FOODS INC	9,136	$629K	0.4%	$48.78	+15.3%	CL A	902494103
BKR	BAKER HUGHES A GE CO	18,711	$618K	0.4%	$26.79	+2.0%	CL A	05722G100
—	MCDERMOTT INTL INC	31,273	$615K	0.4%	$19.67	—	COM	580037703
—	CALIFORNIA RES CORP	13,265	$603K	0.4%	$15.07	—	COM NEW	13057Q206
—	TAHOE RES INC	119,900	$590K	0.4%	$7.54	—	COM	873868103
—	PARSLEY ENERGY INC	19,490	$590K	0.4%	$25.01	—	CL A	701877102
RGLD	ROYAL GOLD INC	6,302	$585K	0.4%	$84.52	+5.9%	COM	780287108
COP	CONOCOPHILLIPS	8,407	$585K	0.4%	$35.76	+44.8%	COM	20825C104
CVX	CHEVRON CORP NEW	4,628	$585K	0.4%	$70.98	+25.6%	COM	166764100
—	ANGLOGOLD ASHANTI LTD	71,147	$584K	0.4%	$9.92	—	SPONSORED ADR	035128206
TX	TERNIUM SA	16,735	$583K	0.4%	$20.55	—	SPON ADR	880890108
—	FORTUNA SILVER MINES INC	100,068	$568K	0.4%	$5.22	—	COM	349915108
AA	ALCOA CORP	12,000	$563K	0.4%	$48.03	0.0%	COM	013872106
NVRI	HARSCO CORP	25,490	$563K	0.4%	$10.67	+116.4%	COM	415864107
AGI	ALAMOS GOLD INC NEW	98,383	$560K	0.4%	$6.21	-16.6%	COM CL A	011532108
—	VIPER ENERGY PARTNERS LP	17,402	$555K	0.4%	$31.89	—	COM UNT RP INT	92763M105
—	GULFPORT ENERGY CORP	43,995	$553K	0.4%	$12.57	—	COM NEW	402635304
—	BRF SA	117,779	$551K	0.4%	$9.65	—	SPONSORED ADR	10552T107
—	WPX ENERGY INC	29,882	$539K	0.4%	$13.97	—	COM	98212B103
CTRA	CABOT OIL & GAS CORP	22,536	$536K	0.4%	$18.02	-4.5%	COM	127097103
FDP	FRESH DEL MONTE PRODUCE INC	11,990	$534K	0.4%	$39.75	-0.4%	ORD	G36738105
AGRO	ADECOAGRO S A	66,694	$530K	0.4%	$9.62	-25.9%	COM	L00849106
—	NOBLE CORP PLC	83,629	$529K	0.4%	$4.81	—	SHS USD	G65431101
RRC	RANGE RES CORP	31,435	$526K	0.4%	$30.27	-50.0%	COM	75281A109
—	HALCON RES CORP	118,590	$521K	0.3%	$6.86	—	COM PAR NEW	40537Q605
RES	RPC INC	34,828	$507K	0.3%	$19.60	-22.9%	COM	749660106
—	ADVANTAGE OIL & GAS LTD	161,700	$506K	0.3%	$5.32	—	COM	00765F101
AWR	AMERICAN STS WTR CO	8,798	$503K	0.3%	$32.93	+45.9%	COM	029899101
—	SANDSTORM GOLD LTD	110,304	$496K	0.3%	$4.74	—	COM NEW	80013R206
HTO	SJW GROUP	7,406	$490K	0.3%	$49.26	+23.4%	COM	784305104
—	TURQUOISE HILL RES LTD	171,068	$486K	0.3%	$2.88	—	COM	900435108
EQT	EQT CORP	8,786	$485K	0.3%	$32.14	-19.8%	COM	26884L109
—	EXTRACTION OIL AND GAS INC	32,825	$482K	0.3%	$14.29	—	COM	30227M105
—	PETROCHINA CO LTD	6,260	$477K	0.3%	$105.84	—	SPONSORED ADR	71646E100
PBR	PETROLEO BRASILEIRO SA PETRO	47,378	$475K	0.3%	$10.29	—	SPONSORED ADR	71654V408
RIG	TRANSOCEAN LTD	34,507	$464K	0.3%	$19.97	-38.4%	REG SHS	H8817H100
—	BONANZA CREEK ENERGY INC	11,950	$453K	0.3%	$37.91	—	COM NEW	097793400
—	JAGGED PEAK ENERGY INC	34,454	$449K	0.3%	$15.77	—	COM	47009K107
—	WILDHORSE RESOURCE DEV CORP	17,583	$446K	0.3%	$21.23	—	COM	96812T102
—	CIMAREX ENERGY CO	4,355	$443K	0.3%	$101.72	—	COM	171798101
ANDE	ANDERSONS INC	12,700	$434K	0.3%	$22.96	+21.2%	COM	034164103
—	U S SILICA HLDGS INC	16,504	$424K	0.3%	$32.48	—	COM	90346E103
CLF	CLEVELAND CLIFFS INC	48,583	$410K	0.3%	$7.01	+7.5%	COM	185899101
PKX	POSCO	5,482	$406K	0.3%	$52.92	—	SPONSORED ADR	693483109
—	C&J ENERGY SVCS INC NEW	17,218	$406K	0.3%	$33.48	—	COM	12674R100
—	GOLDCORP INC NEW	29,007	$398K	0.3%	$13.97	—	COM	380956409
—	SRC ENERGY INC	35,669	$393K	0.3%	$8.46	—	COM	78470V108
FSLR	FIRST SOLAR INC	7,371	$388K	0.3%	$34.59	+89.1%	COM	336433107
YPF	YPF SOCIEDAD ANONIMA	28,358	$385K	0.3%	$13.58	—	SPON ADR CL D	984245100
—	FRANKS INTL N V	49,198	$384K	0.3%	$14.03	—	COM	N33462107
—	ROYAL DUTCH SHELL PLC	5,376	$372K	0.2%	$58.94	—	SPONS ADR A	780259206
HLX	HELIX ENERGY SOLUTIONS GRP I	43,999	$367K	0.2%	$8.74	-16.0%	COM	42330P107
ERII	ENERGY RECOVERY INC	44,620	$361K	0.2%	$10.78	-21.9%	COM	29270J100
—	PRECISION DRILLING CORP	108,814	$361K	0.2%	$3.68	—	COM 2010	74022D308
E	ENI S P A	9,690	$360K	0.2%	$32.63	—	SPONSORED ADR	26874R108
—	DRIL-QUIP INC	6,875	$353K	0.2%	$53.74	—	COM	262037104
CENX	CENTURY ALUM CO	22,148	$349K	0.2%	$12.14	+39.4%	COM	156431108
PUMP	PROPETRO HLDG CORP	22,209	$348K	0.2%	$16.95	+1.5%	COM	74347M108
HP	HELMERICH & PAYNE INC	5,343	$341K	0.2%	$70.09	-2.9%	COM	423452101
EPD	ENTERPRISE PRODS PARTNERS L	11,611	$321K	0.2%	$52.99	—	COM	293792107
BVN	COMPANIA DE MINAS BUENAVENTU	22,987	$313K	0.2%	$14.57	—	SPONSORED ADR	204448104
—	OSISKO GOLD ROYALTIES LTD	32,769	$310K	0.2%	$12.83	—	COM	68827L101
—	VEDANTA LTD	22,339	$304K	0.2%	$15.55	—	SPONSORED ADR	92242Y100
WTI	W & T OFFSHORE INC	42,532	$304K	0.2%	$5.90	+9.5%	COM	92922P106
CNX	CNX RESOURCES CORPORATION	16,795	$299K	0.2%	$13.91	+15.3%	COM	12653C108
—	PIONEER NAT RES CO	1,557	$295K	0.2%	$156.30	—	COM	723787107
CSIQ	CANADIAN SOLAR INC	23,808	$291K	0.2%	$13.24	+13.4%	COM	136635109
—	KIRKLAND LAKE GOLD LTD	13,700	$290K	0.2%	$16.39	—	COM	49741E100
CWT	CALIFORNIA WTR SVC GROUP	6,719	$262K	0.2%	$35.28	-4.8%	COM	130788102
AWK	AMERICAN WTR WKS CO INC NEW	3,027	$258K	0.2%	$68.60	+4.4%	COM	030420103
NGD	NEW GOLD INC CDA	122,561	$255K	0.2%	$2.96	-21.9%	COM	644535106
SCCO	SOUTHERN COPPER CORP	5,098	$239K	0.2%	$35.34	0.0%	COM	84265V105
—	CORE LABORATORIES N V	1,894	$239K	0.2%	$126.19	—	COM	N22717107
—	FORUM ENERGY TECHNOLOGIES IN	18,956	$234K	0.2%	$12.54	—	COM	34984V100
—	NEWFIELD EXPL CO	7,633	$231K	0.2%	$30.09	—	COM	651290108
OXY	OCCIDENTAL PETE CORP DEL	2,734	$229K	0.2%	$66.34	0.0%	COM	674599105
PTEN	PATTERSON UTI ENERGY INC	12,670	$228K	0.2%	$17.95	+11.7%	COM	703481101
—	BRISTOW GROUP INC	16,057	$227K	0.2%	$15.38	—	COM	110394103
BTE	BAYTEX ENERGY CORP	63,190	$210K	0.1%	$4.62	-19.1%	COM	07317Q105
—	PRETIUM RES INC	28,301	$208K	0.1%	$8.48	—	COM	74139C102
REI	RING ENERGY INC	16,430	$207K	0.1%	$14.54	-0.1%	COM	76680V108
—	SUNCOKE ENERGY PARTNERS L P	13,291	$199K	0.1%	$17.23	—	COMUNIT REP LT	86722Y101
SXC	SUNCOKE ENERGY INC	13,668	$183K	0.1%	$12.40	0.0%	COM	86722A103
—	SOUTHWESTERN ENERGY CO	30,316	$161K	0.1%	$18.83	—	COM	845467109
—	YAMANA GOLD INC	48,122	$140K	0.1%	$3.48	—	COM	98462Y100
—	SUPERIOR ENERGY SVCS INC	14,108	$137K	0.1%	$30.56	—	COM	868157108
—	ENSCO PLC	18,692	$136K	0.1%	$30.50	—	SHS CLASS A	G3157S106
—	BASIC ENERGY SVCS INC NEW	10,657	$118K	0.1%	$15.73	—	COM NEW	06985P209
—	ISRAEL CHEMICALS LTD	18,740	$86,000	0.1%	$4.14	—	SHS	M5920A109
—	WEATHERFORD INTL PLC	22,377	$74,000	0.0%	$19.28	—	ORD SHS	G48833100
—	CHESAPEAKE ENERGY CORP	13,560	$71,000	0.0%	$7.47	—	COM	165167107
—	SIBANYE STILLWATER	19,728	$48,000	0.0%	$6.91	—	SPONSORED ADR	825724206