Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TECK	TECK RESOURCES LTD	220,885	$5.094M	2.8%	$22.11	+1.4%	CL B	878742204
RIO	RIO TINTO PLC	61,978	$3.864M	2.1%	$53.72	—	SPONSORED ADR	767204100
AWK	AMERICAN WTR WKS CO INC NEW	33,025	$3.831M	2.1%	$82.29	+18.5%	COM	030420103
—	UNITED STATES STL CORP NEW	248,585	$3.806M	2.1%	$18.39	—	COM	912909108
CF	CF INDS HLDGS INC	74,169	$3.464M	1.9%	$36.34	+1.4%	COM	125269100
—	CONTINENTAL RESOURCES INC	79,419	$3.343M	1.9%	$49.81	—	COM	212015101
AGCO	AGCO CORP	40,868	$3.17M	1.8%	$52.50	+12.4%	COM	001084102
NTR	NUTRIEN LTD	56,099	$2.999M	1.7%	$40.60	+2.6%	COM	67077M108
FMC	F M C CORP	35,240	$2.923M	1.6%	$61.96	+4.8%	COM NEW	302491303
TSN	TYSON FOODS INC	35,319	$2.852M	1.6%	$50.61	+25.9%	CL A	902494103
DE	DEERE & CO	16,247	$2.692M	1.5%	$126.48	+11.8%	COM	244199105
—	BUNGE LIMITED	47,101	$2.624M	1.5%	$71.66	—	COM	G16962105
SBS	COMPANHIA DE SANEAMENTO BASI	201,870	$2.457M	1.4%	$6.21	—	SPONSORED ADR	20441A102
SQM	SOCIEDAD QUIMICA MINERA DE C	76,676	$2.385M	1.3%	$36.01	—	SPON ADR SER B	833635105
CMP	COMPASS MINERALS INTL INC	42,431	$2.332M	1.3%	$50.18	-6.3%	COM	20451N101
PPC	PILGRIMS PRIDE CORP NEW	91,250	$2.317M	1.3%	$19.93	+29.9%	COM	72147K108
—	SRC ENERGY INC	452,948	$2.247M	1.2%	$6.18	—	COM	78470V108
EOG	EOG RES INC	23,981	$2.234M	1.2%	$77.63	-9.4%	COM	26875P101
MOS	MOSAIC CO NEW	88,983	$2.227M	1.2%	$22.46	-4.0%	COM	61945C103
—	AQUA AMERICA INC	52,905	$2.189M	1.2%	$35.14	—	COM	03836W103
WTI	W & T OFFSHORE INC	431,844	$2.142M	1.2%	$5.93	-9.2%	COM	92922P106
DAR	DARLING INGREDIENTS INC	107,482	$2.138M	1.2%	$19.33	+6.1%	COM	237266101
—	CONCHO RES INC	20,694	$2.135M	1.2%	$106.78	—	COM	20605P101
—	BRF SA	277,604	$2.11M	1.2%	$7.12	—	SPONSORED ADR	10552T107
—	VIPER ENERGY PARTNERS LP	64,080	$1.975M	1.1%	$31.79	—	COM UNT RP INT	92763M105
INGR	INGREDION INC	23,518	$1.94M	1.1%	$106.43	-19.2%	COM	457187102
HCC	WARRIOR MET COAL INC	73,624	$1.923M	1.1%	$26.18	+8.8%	COM	93627C101
—	WPX ENERGY INC	165,664	$1.907M	1.1%	$12.09	—	COM	98212B103
CNH	CNH INDL N V	184,389	$1.896M	1.1%	$9.03	-14.5%	SHS	N20944109
COP	CONOCOPHILLIPS	31,024	$1.892M	1.0%	$47.35	+4.0%	COM	20825C104
RYN	RAYONIER INC	61,850	$1.874M	1.0%	$31.22	—	COM	754907103
—	LAREDO PETROLEUM INC	633,436	$1.837M	1.0%	$3.82	—	COM	516806106
DVN	DEVON ENERGY CORP NEW	63,274	$1.805M	1.0%	$25.28	-15.5%	COM	25179M103
—	CALLON PETE CO DEL	270,568	$1.783M	1.0%	$7.93	—	COM	13123X102
GGB	GERDAU S A	453,425	$1.764M	1.0%	$3.89	—	SPON ADR REP PFD	373737105
PCH	POTLATCHDELTIC CORPORATION	43,162	$1.682M	0.9%	$39.49	—	COM	737630103
—	CIMAREX ENERGY CO	27,694	$1.643M	0.9%	$69.92	—	COM	171798101
—	PARSLEY ENERGY INC	85,166	$1.619M	0.9%	$20.45	—	CL A	701877102
—	CNOOC LTD	9,450	$1.61M	0.9%	$172.04	—	SPONSORED ADR	126132109
CALM	CAL MAINE FOODS INC	36,921	$1.54M	0.9%	$33.14	-3.8%	COM NEW	128030202
RES	RPC INC	208,310	$1.502M	0.8%	$11.08	-21.7%	COM	749660106
MPC	MARATHON PETE CORP	26,251	$1.467M	0.8%	$33.16	+33.5%	COM	56585A102
VLO	VALERO ENERGY CORP NEW	17,028	$1.458M	0.8%	$33.39	+88.7%	COM	91913Y100
HBM	HUDBAY MINERALS INC	267,600	$1.449M	0.8%	$5.27	+12.4%	COM	443628102
SM	SM ENERGY CO	113,801	$1.425M	0.8%	$14.25	-7.9%	COM	78454L100
ENPH	ENPHASE ENERGY INC	77,427	$1.411M	0.8%	$7.12	+93.4%	COM	29355A107
ADM	ARCHER DANIELS MIDLAND CO	33,150	$1.353M	0.7%	$32.75	+4.1%	COM	039483102
CLF	CLEVELAND CLIFFS INC	126,654	$1.351M	0.7%	$8.63	+9.4%	COM	185899101
MTDR	MATADOR RES CO	67,732	$1.347M	0.7%	$22.89	-17.1%	COM	576485205
OXY	OCCIDENTAL PETE CORP	26,304	$1.323M	0.7%	$51.85	-5.8%	COM	674599105
PTEN	PATTERSON UTI ENERGY INC	113,798	$1.31M	0.7%	$14.72	-12.6%	COM	703481101
AA	ALCOA CORP	54,344	$1.272M	0.7%	$31.02	-23.3%	COM	013872106
OII	OCEANEERING INTL INC	62,225	$1.269M	0.7%	$30.19	-41.4%	COM	675232102
—	PDC ENERGY INC	35,104	$1.266M	0.7%	$53.90	—	COM	69327R101
—	MARATHON OIL CORP	88,810	$1.262M	0.7%	$15.84	—	COM	565849106
—	EXTRACTION OIL AND GAS INC	290,392	$1.257M	0.7%	$5.48	—	COM	30227M105
HRL	HORMEL FOODS CORP	30,595	$1.24M	0.7%	$35.65	-4.8%	COM	440452100
—	TOTAL S A	22,099	$1.233M	0.7%	$61.81	—	SPONSORED ADS	89151E109
—	WHITING PETE CORP NEW	64,504	$1.205M	0.7%	$24.03	—	COM NEW	966387409
STLD	STEEL DYNAMICS INC	38,758	$1.17M	0.6%	$30.22	-12.0%	COM	858119100
CMC	COMMERCIAL METALS CO	63,091	$1.126M	0.6%	$14.61	0.0%	COM	201723103
YPF	YPF SOCIEDAD ANONIMA	60,465	$1.101M	0.6%	$14.40	—	SPON ADR CL D	984245100
—	HOLLYFRONTIER CORP	23,735	$1.098M	0.6%	$46.20	—	COM	436106108
—	ENCANA CORP	211,075	$1.083M	0.6%	$8.01	—	COM	292505104
—	SANDERSON FARMS INC	7,544	$1.03M	0.6%	$103.37	—	COM	800013104
—	CENTENNIAL RESOURCE DEV INC	135,113	$1.026M	0.6%	$9.80	—	CL A	15136A102
SCCO	SOUTHERN COPPER CORP	26,244	$1.02M	0.6%	$27.54	-1.7%	COM	84265V105
—	PIONEER NAT RES CO	6,592	$1.014M	0.6%	$159.95	—	COM	723787107
—	EVOQUA WATER TECHNOLOGIES CO	70,796	$1.008M	0.6%	$11.57	—	COM	30057T105
GFI	GOLD FIELDS LTD NEW	183,820	$994K	0.6%	$3.98	—	SPONSORED ADR	38059T106
—	GULFPORT ENERGY CORP	202,460	$994K	0.6%	$8.69	—	COM NEW	402635304
NVRI	HARSCO CORP	34,613	$950K	0.5%	$14.53	+68.1%	COM	415864107
FANG	DIAMONDBACK ENERGY INC	8,712	$949K	0.5%	$83.26	-2.5%	COM	25278X109
CVX	CHEVRON CORP NEW	7,338	$913K	0.5%	$80.05	+12.7%	COM	166764100
MUR	MURPHY OIL CORP	37,054	$913K	0.5%	$21.41	-3.4%	COM	626717102
CENX	CENTURY ALUM CO	130,922	$905K	0.5%	$9.21	-19.3%	COM	156431108
—	NOBLE ENERGY INC	39,252	$879K	0.5%	$34.89	—	COM	655044105
—	JAGGED PEAK ENERGY INC	105,805	$875K	0.5%	$10.08	—	COM	47009K107
AWR	AMERICAN STS WTR CO	11,288	$849K	0.5%	$41.05	+54.7%	COM	029899101
PSX	PHILLIPS 66	9,027	$844K	0.5%	$43.93	+55.9%	COM	718546104
—	TELLURIAN INC NEW	104,063	$817K	0.5%	$10.07	—	COM	87968A104
—	RENEWABLE ENERGY GROUP INC	50,261	$797K	0.4%	$18.93	—	COM NEW	75972A301
—	NABORS INDUSTRIES LTD	274,543	$796K	0.4%	$5.32	—	SHS	G6359F103
CWT	CALIFORNIA WTR SVC GROUP	15,426	$781K	0.4%	$36.42	+20.6%	COM	130788102
TX	TERNIUM SA	34,832	$781K	0.4%	$24.31	—	SPONSORED ADS	880890108
SLB	SCHLUMBERGER LTD	19,573	$778K	0.4%	$48.77	-31.0%	COM	806857108
—	APACHE CORP	26,358	$764K	0.4%	$49.24	—	COM	037411105
XOM	EXXON MOBIL CORP	9,885	$757K	0.4%	$56.79	+0.2%	COM	30231G102
CSIQ	CANADIAN SOLAR INC	34,452	$752K	0.4%	$14.16	+39.9%	COM	136635109
BKR	BAKER HUGHES A GE CO	28,899	$712K	0.4%	$24.21	-17.6%	CL A	05722G100
—	ROYAL DUTCH SHELL PLC	10,687	$695K	0.4%	$61.36	—	SPONS ADR A	780259206
CNX	CNX RESOURCES CORPORATION	94,532	$691K	0.4%	$9.70	-9.4%	COM	12653C108
CCJ	CAMECO CORP	63,929	$686K	0.4%	$11.62	-9.6%	COM	13321L108
—	OASIS PETE INC NEW	119,740	$680K	0.4%	$5.78	—	COM	674215108
BP	BP PLC	15,665	$653K	0.4%	$38.42	—	SPONSORED ADR	055622104
—	CONSOL ENERGY INC NEW	24,418	$650K	0.4%	$30.56	—	COM	20854L108
—	KEANE GROUP INC	95,141	$639K	0.4%	$8.01	—	COM	48669A108
—	SCHNITZER STL INDS	24,185	$633K	0.4%	$26.67	—	CL A	806882106
MT	ARCELORMITTAL SA LUXEMBOURG	35,090	$633K	0.4%	$19.74	—	NY REGISTRY SH	03938L203
AGI	ALAMOS GOLD INC NEW	104,468	$632K	0.4%	$5.31	-11.4%	COM CL A	011532108
OIS	OIL STS INTL INC	33,507	$613K	0.3%	$27.20	-34.1%	COM	678026105
PKX	POSCO	11,236	$596K	0.3%	$56.20	—	SPONSORED ADR	693483109
CRS	CARPENTER TECHNOLOGY CORP	12,423	$596K	0.3%	$35.71	+17.1%	COM	144285103
AR	ANTERO RES CORP	107,106	$592K	0.3%	$14.82	-51.3%	COM	03674X106
—	REXNORD CORP NEW	19,195	$580K	0.3%	$29.95	—	COM	76169B102
—	CORE LABORATORIES N V	10,665	$558K	0.3%	$97.22	—	COM	N22717107
—	VEDANTA LTD	53,882	$548K	0.3%	$13.23	—	SPONSORED ADR	92242Y100
HLX	HELIX ENERGY SOLUTIONS GRP I	63,173	$545K	0.3%	$8.69	-10.5%	COM	42330P107
FDP	FRESH DEL MONTE PRODUCE INC	20,113	$542K	0.3%	$35.72	-34.6%	ORD	G36738105
PUMP	PROPETRO HLDG CORP	25,990	$538K	0.3%	$17.45	+21.7%	COM	74347M108
TPICQ	TPI COMPOSITES INC	21,287	$526K	0.3%	$29.00	-11.8%	COM	87266J104
—	CRESCENT PT ENERGY CORP	159,000	$526K	0.3%	$5.48	—	COM	22576C101
—	PETROCHINA CO LTD	9,463	$521K	0.3%	$65.47	—	SPONSORED ADR	71646E100
—	CARRIZO OIL & GAS INC	50,509	$506K	0.3%	$15.20	—	COM	144577103
HTO	SJW GROUP	8,165	$496K	0.3%	$59.37	+3.7%	COM	784305104
HP	HELMERICH & PAYNE INC	9,791	$496K	0.3%	$62.11	-11.4%	COM	423452101
—	QEP RES INC	67,003	$484K	0.3%	$11.73	—	COM	74733V100
ARLP	ALLIANCE RES PARTNER L P	28,358	$482K	0.3%	$19.98	—	UT LTD PART	01877R108
—	ENERPLUS CORP	63,764	$480K	0.3%	$10.89	—	COM	292766102
GPRE	GREEN PLAINS INC	41,368	$446K	0.2%	$15.26	-2.6%	COM	393222104
HAL	HALLIBURTON CO	19,202	$437K	0.2%	$33.57	-32.4%	COM	406216101
SU	SUNCOR ENERGY INC NEW	13,810	$431K	0.2%	$27.87	-11.8%	COM	867224107
WTTR	SELECT ENERGY SVCS INC	36,801	$427K	0.2%	$8.93	—	CL A COM	81617J301
—	CHINA PETE & CHEM CORP	6,209	$423K	0.2%	$79.56	—	SPON ADR H SHS	16941R108
KOS	KOSMOS ENERGY LTD	66,035	$414K	0.2%	$5.73	+7.3%	COM	500688106
AGRO	ADECOAGRO S A	56,045	$400K	0.2%	$8.78	-30.8%	COM	L00849106
ANDE	ANDERSONS INC	14,574	$397K	0.2%	$23.78	+7.7%	COM	034164103
E	ENI S P A	11,804	$390K	0.2%	$33.12	—	SPONSORED ADR	26874R108
—	UNIT CORP	42,922	$382K	0.2%	$14.02	—	COM	909218109
—	AK STL HLDG CORP	155,686	$369K	0.2%	$3.68	—	COM	001547108
PBR	PETROLEO BRASILEIRO SA PETRO	23,477	$366K	0.2%	$12.98	—	SPONSORED ADR	71654V408
—	C&J ENERGY SVCS INC NEW	30,370	$358K	0.2%	$21.23	—	COM	12674R100
—	ENSCO PLC	41,351	$353K	0.2%	$16.59	—	SHS CLASS A	G3157S106
VALE	VALE S A	25,404	$341K	0.2%	$12.43	—	SPONSORED ADS	91912E105
—	BP PRUDHOE BAY RTY TR	21,701	$336K	0.2%	$24.91	—	UNIT BEN INT	055630107
EPD	ENTERPRISE PRODS PARTNERS L	11,457	$331K	0.2%	$52.99	—	COM	293792107
SEI	SOLARIS OILFIELD INFRSTR INC	21,863	$328K	0.2%	$11.65	+7.7%	COM CL A	83418M103
—	BONANZA CREEK ENERGY INC	14,731	$308K	0.2%	$28.49	—	COM NEW	097793400
BHP	BHP GROUP LTD	5,106	$297K	0.2%	$48.94	—	SPONSORED ADS	088606108
—	FTS INTERNATIONAL INC	52,040	$290K	0.2%	$9.02	—	COM	30283W104
—	DIAMOND OFFSHORE DRILLING IN	30,572	$271K	0.2%	$20.62	—	COM	25271C102
AROC	ARCHROCK INC	25,065	$266K	0.1%	$6.75	-1.4%	COM	03957W106
BVN	COMPANIA DE MINAS BUENAVENTU	15,577	$260K	0.1%	$14.37	—	SPONSORED ADR	204448104
—	FRANKS INTL N V	46,545	$254K	0.1%	$13.13	—	COM	N33462107
—	U S SILICA HLDGS INC	19,355	$248K	0.1%	$27.38	—	COM	90346E103
DQ	DAQO NEW ENERGY CORP	5,742	$243K	0.1%	$42.32	—	SPNSRD ADR NEW	23703Q203
GPRK	GEOPARK LTD	12,980	$241K	0.1%	$17.73	-5.3%	USD SHS	G38327105
—	ISRAEL CHEMICALS LTD	44,463	$233K	0.1%	$5.58	—	SHS	M5920A109
—	SANDSTORM GOLD LTD	42,029	$233K	0.1%	$4.59	—	COM NEW	80013R206
—	HESS CORP	3,491	$222K	0.1%	$44.22	—	COM	42809H107
NEM	NEWMONT GOLDCORP CORPORATION	5,586	$215K	0.1%	$30.43	-8.2%	COM	651639106
JKS	JINKOSOLAR HLDG CO LTD	9,361	$203K	0.1%	$21.69	—	SPONSORED ADR	47759T100
—	MCDERMOTT INTL INC	20,632	$199K	0.1%	$19.67	—	COM	580037703
BTG	B2GOLD CORP	63,100	$192K	0.1%	$2.08	+5.1%	COM	11777Q209
HL	HECLA MNG CO	96,216	$173K	0.1%	$3.71	-52.3%	COM	422704106
RRC	RANGE RES CORP	24,123	$168K	0.1%	$30.03	-71.1%	COM	75281A109
SXC	SUNCOKE ENERGY INC	17,835	$158K	0.1%	$12.13	-32.1%	COM	86722A103
RIG	TRANSOCEAN LTD	22,975	$147K	0.1%	$19.67	-62.2%	REG SHS	H8817H100
—	GRAN TIERRA ENERGY INC	91,477	$145K	0.1%	$2.27	—	COM	38500T101
CVE	CENOVUS ENERGY INC	16,366	$144K	0.1%	$11.77	-32.7%	COM	15135U109
—	FORTUNA SILVER MINES INC	47,714	$136K	0.1%	$4.81	—	COM	349915108
—	SUNPOWER CORP	11,999	$128K	0.1%	$6.85	—	COM	867652406
REI	RING ENERGY INC	36,755	$119K	0.1%	$8.73	-49.0%	COM	76680V108
—	PRETIUM RES INC	11,349	$114K	0.1%	$8.30	—	COM	74139C102
—	HIGHPOINT RES CORP	59,445	$108K	0.1%	$2.27	—	COM	43114K108
IAG	IAMGOLD CORP	31,631	$107K	0.1%	$5.40	-46.0%	COM	450913108
—	PRECISION DRILLING CORP	56,583	$107K	0.1%	$3.35	—	COM 2010	74022D308
—	SOUTHWESTERN ENERGY CO	32,128	$102K	0.1%	$18.05	—	COM	845467109
—	NOBLE CORP PLC	53,876	$101K	0.1%	$5.22	—	SHS USD	G65431101
AG	FIRST MAJESTIC SILVER CORP	12,179	$96,000	0.1%	$6.24	0.0%	COM	32076V103
—	SIBANYE STILLWATER	17,217	$82,000	0.0%	$4.31	—	SPONSORED ADR	825724206
CDE	COEUR MNG INC	14,012	$61,000	0.0%	$5.50	-36.0%	COM NEW	192108504
—	DEAN FOODS CO NEW	50,918	$47,000	0.0%	$3.37	—	COM NEW	242370203
—	FORUM ENERGY TECHNOLOGIES IN	11,414	$39,000	0.0%	$6.33	—	COM	34984V100
—	HI CRUSH INC	12,594	$31,000	0.0%	$4.33	—	COM	428337109
BTE	BAYTEX ENERGY CORP	19,466	$30,000	0.0%	$3.29	-47.4%	COM	07317Q105
—	HALCON RES CORP	129,488	$23,000	0.0%	$3.52	—	COM	40537Q605
—	DENBURY RES INC	10,797	$13,000	0.0%	$6.20	—	COM NEW	247916208