Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSN	TYSON FOODS INC	190,129	$15.01M	4.2%	$63.71	+3.3%	CL A	902494103
—	SANDERSON FARMS INC	67,046	$12.62M	3.5%	$175.39	—	COM	800013104
CF	CF INDS HLDGS INC	205,815	$11.49M	3.2%	$31.62	+38.3%	COM	125269100
PAAS	PAN AMERN SILVER CORP	287,665	$6.694M	1.9%	$30.21	-13.5%	COM	697900108
FANG	DIAMONDBACK ENERGY INC	70,222	$6.648M	1.9%	$65.95	0.0%	COM	25278X109
—	EVOQUA WATER TECHNOLOGIES CO	172,984	$6.497M	1.8%	$28.59	—	COM	30057T105
EOG	EOG RES INC	74,962	$6.017M	1.7%	$60.09	-2.1%	COM	26875P101
—	CRESCENT PT ENERGY CORP	1,273,500	$5.868M	1.6%	$4.28	—	COM	22576C101
BYND	BEYOND MEAT INC	55,709	$5.864M	1.6%	$128.52	-4.8%	COM	08862E109
NTR	NUTRIEN LTD	90,319	$5.858M	1.6%	$36.46	+46.7%	COM	67077M108
—	FORTUNA SILVER MINES INC	1,446,032	$5.683M	1.6%	$4.87	—	COM	349915108
PCH	POTLATCHDELTIC CORPORATION	107,443	$5.542M	1.6%	$49.99	—	COM	737630103
—	BUNGE LIMITED	67,536	$5.492M	1.5%	$72.84	—	COM	G16962105
—	PDC ENERGY INC	108,669	$5.15M	1.4%	$26.09	—	COM	69327R101
SQM	SOCIEDAD QUIMICA Y MINERA DE	94,284	$5.065M	1.4%	$43.86	—	SPON ADR SER B	833635105
INGR	INGREDION INC	54,094	$4.815M	1.4%	$86.22	+2.2%	COM	457187102
KGC	KINROSS GOLD CORP	897,435	$4.81M	1.4%	$7.12	-15.9%	COM	496902404
CTVA	CORTEVA INC	113,755	$4.787M	1.3%	$29.66	+39.0%	COM	22052L104
BTG	B2GOLD CORP	1,376,766	$4.709M	1.3%	$4.03	-20.1%	COM	11777Q209
COP	CONOCOPHILLIPS	64,759	$4.389M	1.2%	$40.64	+21.3%	COM	20825C104
CSIQ	CANADIAN SOLAR INC	120,248	$4.159M	1.2%	$31.99	+18.9%	COM	136635109
MOS	MOSAIC CO NEW	114,905	$4.104M	1.2%	$20.22	+43.1%	COM	61945C103
SSRM	SSR MNG INC	272,721	$3.968M	1.1%	$16.10	-1.6%	COM	784730103
GFI	GOLD FIELDS LTD	474,135	$3.85M	1.1%	$8.94	—	SPONSORED ADR	38059T106
RIO	RIO TINTO PLC	56,417	$3.77M	1.1%	$69.77	—	SPONSORED ADR	767204100
—	PIONEER NAT RES CO	22,594	$3.762M	1.1%	$158.09	—	COM	723787107
CRK	COMSTOCK RES INC	354,147	$3.665M	1.0%	$6.42	0.0%	COM	205768302
BP	BP PLC	132,642	$3.625M	1.0%	$23.11	—	SPONSORED ADR	055622104
ORA	ORMAT TECHNOLOGIES INC	53,941	$3.593M	1.0%	$68.65	-2.1%	COM	686688102
AGI	ALAMOS GOLD INC NEW	496,698	$3.576M	1.0%	$7.94	-6.4%	COM CL A	011532108
OVV	OVINTIV INC	107,754	$3.543M	1.0%	$24.76	+11.5%	COM	69047Q102
VALE	VALE S A	251,385	$3.507M	1.0%	$12.35	—	SPONSORED ADS	91912E105
—	RENEWABLE ENERGY GROUP INC	68,881	$3.458M	1.0%	$54.57	—	COM NEW	75972A301
SU	SUNCOR ENERGY INC NEW	165,000	$3.419M	1.0%	$18.08	-7.3%	COM	867224107
NEM	NEWMONT CORP	62,104	$3.372M	0.9%	$53.81	-4.6%	COM	651639106
PNR	PENTAIR PLC	45,923	$3.335M	0.9%	$54.57	+29.2%	SHS	G7S00T104
PBR	PETROLEO BRASILEIRO SA PETRO	310,675	$3.212M	0.9%	$10.79	—	SPONSORED ADR	71654V408
DE	DEERE & CO	9,179	$3.076M	0.9%	$153.87	+120.5%	COM	244199105
AEM	AGNICO EAGLE MINES LTD	55,562	$2.881M	0.8%	$58.19	-10.6%	COM	008474108
HAL	HALLIBURTON CO	131,294	$2.839M	0.8%	$17.73	+6.1%	COM	406216101
GGB	GERDAU SA	573,896	$2.824M	0.8%	$5.04	—	SPON ADR REP PFD	373737105
—	MARATHON OIL CORP	206,303	$2.82M	0.8%	$8.47	—	COM	565849106
—	ANGLOGOLD ASHANTI LIMITED	172,972	$2.766M	0.8%	$20.29	—	SPONSORED ADR	035128206
SEDG	SOLAREDGE TECHNOLOGIES INC	10,144	$2.69M	0.8%	$191.63	+42.1%	COM	83417M104
ENPH	ENPHASE ENERGY INC	17,448	$2.617M	0.7%	$25.72	+567.2%	COM	29355A107
HBM	HUDBAY MINERALS INC	409,200	$2.551M	0.7%	$5.81	+9.1%	COM	443628102
MUR	MURPHY OIL CORP	101,111	$2.525M	0.7%	$14.45	+28.3%	COM	626717102
—	ATLANTICA SUSTAINABLE INFR P	72,892	$2.516M	0.7%	$36.02	—	SHS	G0751N103
CNH	CNH INDL N V	144,391	$2.398M	0.7%	$8.96	+44.1%	SHS	N20944109
BLDP	BALLARD PWR SYS INC NEW	166,099	$2.334M	0.7%	$17.30	-8.4%	COM	058586108
PTEN	PATTERSON-UTI ENERGY INC	256,498	$2.308M	0.6%	$7.24	+11.8%	COM	703481101
AGCO	AGCO CORP	18,819	$2.306M	0.6%	$81.40	+39.0%	COM	001084102
MGY	MAGNOLIA OIL & GAS CORP	128,541	$2.287M	0.6%	$8.09	+86.9%	CL A	559663109
AWK	AMERICAN WTR WKS CO INC NEW	13,084	$2.212M	0.6%	$138.14	+15.8%	COM	030420103
SCCO	SOUTHERN COPPER CORP	39,246	$2.203M	0.6%	$44.12	+11.4%	COM	84265V105
—	FUELCELL ENERGY INC	327,563	$2.191M	0.6%	$6.69	—	COM	35952H601
TALO	TALOS ENERGY INC	158,007	$2.176M	0.6%	$12.19	0.0%	COM	87484T108
HP	HELMERICH & PAYNE INC	79,329	$2.174M	0.6%	$25.97	+7.5%	COM	423452101
SID	COMPANHIA SIDERURGICA NACION	409,842	$2.156M	0.6%	$5.52	—	SPONSORED ADR	20440W105
PPC	PILGRIMS PRIDE CORP	73,174	$2.128M	0.6%	$22.50	+11.4%	COM	72147K108
—	KIRKLAND LAKE GOLD LTD	51,023	$2.124M	0.6%	$35.73	—	COM	49741E100
OXY	OCCIDENTAL PETE CORP	71,548	$2.116M	0.6%	$28.04	-10.2%	COM	674599105
HLX	HELIX ENERGY SOLUTIONS GRP I	544,413	$2.112M	0.6%	$4.12	0.0%	COM	42330P107
—	CENTENNIAL RESOURCE DEV INC	314,471	$2.107M	0.6%	$6.73	—	CL A	15136A102
EGO	ELDORADO GOLD CORP NEW	270,958	$2.095M	0.6%	$11.13	-20.6%	COM	284902509
—	CALLON PETE CO DEL	42,659	$2.094M	0.6%	$50.28	—	COM	13123X508
AG	FIRST MAJESTIC SILVER CORP	174,174	$1.968M	0.6%	$13.52	-5.7%	COM	32076V103
—	BRF SA	386,695	$1.941M	0.5%	$6.69	—	SPONSORED ADR	10552T107
JKS	JINKOSOLAR HLDG CO LTD	42,236	$1.935M	0.5%	$28.14	—	SPONSORED ADR	47759T100
CTRA	CABOT OIL & GAS CORP	86,958	$1.892M	0.5%	$13.50	-0.4%	COM	127097103
CVX	CHEVRON CORP NEW	18,138	$1.84M	0.5%	$81.97	+1.6%	COM	166764100
—	CORE LABORATORIES N V	65,630	$1.821M	0.5%	$35.44	—	COM	N22717107
DVN	DEVON ENERGY CORP NEW	51,280	$1.821M	0.5%	$23.01	-2.1%	COM	25179M103
SBS	COMPANHIA DE SANEAMENTO BASI	255,652	$1.81M	0.5%	$7.64	—	SPONSORED ADR	20441A102
PUMP	PROPETRO HLDG CORP	203,615	$1.761M	0.5%	$8.91	-12.3%	COM	74347M108
—	LIVENT CORP	73,501	$1.699M	0.5%	$15.27	—	COM	53814L108
VFF	VILLAGE FARMS INTL INC	199,720	$1.666M	0.5%	$10.53	-11.2%	COM	92707Y108
ADM	ARCHER DANIELS MIDLAND CO	27,588	$1.656M	0.5%	$41.54	+27.5%	COM	039483102
KOS	KOSMOS ENERGY LTD	559,108	$1.655M	0.5%	$2.44	0.0%	COM	500688106
—	CONTINENTAL RES INC	35,856	$1.655M	0.5%	$37.66	—	COM	212015101
SM	SM ENERGY CO	60,062	$1.584M	0.4%	$18.17	+2.7%	COM	78454L100
BKR	BAKER HUGHES COMPANY	63,828	$1.578M	0.4%	$18.78	+6.5%	CL A	05722G100
MPC	MARATHON PETE CORP	25,347	$1.567M	0.4%	$33.12	+56.4%	COM	56585A102
CCJ	CAMECO CORP	71,926	$1.563M	0.4%	$12.11	+54.3%	COM	13321L108
—	HESS CORP	19,991	$1.561M	0.4%	$79.22	—	COM	42809H107
EXK	ENDEAVOUR SILVER CORP	376,583	$1.54M	0.4%	$4.79	0.0%	COM	29258Y103
HL	HECLA MNG CO	277,000	$1.524M	0.4%	$6.90	-11.7%	COM	422704106
SLB	SCHLUMBERGER LTD	50,631	$1.501M	0.4%	$22.82	+13.9%	COM STK	806857108
FSLR	FIRST SOLAR INC	15,515	$1.481M	0.4%	$60.75	+52.8%	COM	336433107
OII	OCEANEERING INTL INC	110,832	$1.476M	0.4%	$13.04	0.0%	COM	675232102
—	SUNPOWER CORP	63,617	$1.443M	0.4%	$14.73	—	COM	867652406
EC	ECOPETROL S A	99,699	$1.431M	0.4%	$13.06	—	SPONSORED ADS	279158109
TX	TERNIUM SA	33,512	$1.418M	0.4%	$26.04	—	SPONSORED ADS	880890108
XOM	EXXON MOBIL CORP	23,852	$1.403M	0.4%	$37.35	+29.7%	COM	30231G102
—	U S SILICA HLDGS INC	174,191	$1.392M	0.4%	$7.99	—	COM	90346E103
TECK	TECK RESOURCES LTD	54,406	$1.355M	0.4%	$17.18	+33.4%	CL B	878742204
NOV	NOV INC	98,386	$1.29M	0.4%	$14.51	-7.0%	COM	62955J103
WTRG	ESSENTIAL UTILS INC	27,570	$1.27M	0.4%	$45.92	+5.5%	COM	29670G102
—	CHAMPIONX CORPORATION	56,740	$1.269M	0.4%	$8.81	—	COM	15872M104
GPRE	GREEN PLAINS INC	37,372	$1.22M	0.3%	$23.45	+46.3%	COM	393222104
RS	RELIANCE STEEL & ALUMINUM CO	8,228	$1.172M	0.3%	$159.19	-5.6%	COM	759509102
VLO	VALERO ENERGY CORP	16,525	$1.166M	0.3%	$33.55	+71.6%	COM	91913Y100
TS	TENARIS S A	53,765	$1.135M	0.3%	$15.81	—	SPONSORED ADS	88031M109
CC	CHEMOURS CO	39,007	$1.134M	0.3%	$28.12	-1.6%	COM	163851108
APA	APA CORPORATION	52,868	$1.133M	0.3%	$16.72	+0.6%	COM	03743Q108
CALM	CAL MAINE FOODS INC	30,666	$1.109M	0.3%	$31.99	-13.4%	COM NEW	128030202
FCX	FREEPORT-MCMORAN INC	33,811	$1.1M	0.3%	$14.89	+122.2%	CL B	35671D857
ARRY	ARRAY TECHNOLOGIES INC	59,361	$1.099M	0.3%	$20.85	-20.5%	COM SHS	04271T100
CLF	CLEVELAND-CLIFFS INC NEW	55,009	$1.09M	0.3%	$15.25	+49.4%	COM	185899101
CNX	CNX RES CORP	86,128	$1.087M	0.3%	$13.99	-13.5%	COM	12653C108
—	YAMANA GOLD INC	267,186	$1.058M	0.3%	$4.24	—	COM	98462Y100
CMP	COMPASS MINERALS INTL INC	16,366	$1.054M	0.3%	$51.90	+20.5%	COM	20451N101
—	PRETIUM RES INC	105,793	$1.02M	0.3%	$10.25	—	COM	74139C102
—	BARRICK GOLD CORP	56,186	$1.014M	0.3%	$20.67	—	COM	067901108
IAG	IAMGOLD CORP	437,810	$989K	0.3%	$2.90	-14.0%	COM	450913108
RGLD	ROYAL GOLD INC	9,979	$953K	0.3%	$110.48	+1.4%	COM	780287108
SVM	SILVERCORP METALS INC	238,712	$909K	0.3%	$4.88	-7.2%	COM	82835P103
RYN	RAYONIER INC	24,209	$864K	0.2%	$31.52	—	COM	754907103
MT	ARCELORMITTAL SA LUXEMBOURG	27,181	$820K	0.2%	$22.00	—	NY REGISTRY SH	03938L203
—	HOLLYFRONTIER CORP	23,035	$763K	0.2%	$45.74	—	COM	436106108
CMC	COMMERCIAL METALS CO	24,939	$760K	0.2%	$17.86	+67.7%	COM	201723103
RES	RPC INC	146,144	$710K	0.2%	$8.56	-55.2%	COM	749660106
CSTM	CONSTELLIUM SE	37,643	$707K	0.2%	$14.36	+34.1%	CL A SHS	F21107101
—	ARCONIC CORPORATION	20,405	$644K	0.2%	$33.36	—	COM	03966V107
MTDR	MATADOR RES CO	16,874	$642K	0.2%	$30.05	+2.1%	COM	576485205
FMC	FMC CORP	6,967	$638K	0.2%	$78.25	+8.8%	COM NEW	302491303
FTI	TECHNIPFMC PLC	84,393	$636K	0.2%	$8.22	-14.1%	COM	G87110105
PSX	PHILLIPS 66	8,761	$614K	0.2%	$44.01	+39.1%	COM	718546104
—	ENERPLUS CORP	75,985	$608K	0.2%	$8.00	—	COM	292766102
ATI	ALLEGHENY TECHNOLOGIES INC	36,477	$607K	0.2%	$12.09	+56.4%	COM	01741R102
PLUG	PLUG POWER INC	21,000	$536K	0.2%	$19.33	+38.6%	COM NEW	72919P202
—	TELLURIAN INC NEW	134,930	$528K	0.1%	$3.91	—	COM	87968A104
E	ENI S P A	19,710	$527K	0.1%	$26.09	—	SPONSORED ADR	26874R108
YPF	YPF SOCIEDAD ANONIMA	108,397	$505K	0.1%	$8.44	—	SPON ADR CL D	984245100
HCC	WARRIOR MET COAL INC	21,227	$494K	0.1%	$23.80	-15.0%	COM	93627C101
—	TURQUOISE HILL RES LTD	32,920	$486K	0.1%	$16.03	—	COM	900435207
—	VEDANTA LIMITED	31,099	$475K	0.1%	$10.87	—	SPONSORED ADR	92242Y100
NOG	NORTHERN OIL AND GAS INC MN	21,641	$463K	0.1%	$17.47	0.0%	COM	665531307
DAR	DARLING INGREDIENTS INC	6,057	$435K	0.1%	$41.10	+74.1%	COM	237266101
CENX	CENTURY ALUM CO	32,361	$435K	0.1%	$10.92	+15.2%	COM	156431108
DQ	DAQO NEW ENERGY CORP	7,606	$434K	0.1%	$58.09	—	SPNSRD ADS NEW	23703Q203
—	BONANZA CREEK ENERGY INC	8,992	$431K	0.1%	$47.93	—	COM NEW	097793400
—	PETROCHINA CO LTD	9,181	$429K	0.1%	$64.56	—	SPONSORED ADR	71646E100
AR	ANTERO RESOURCES CORP	21,368	$402K	0.1%	$11.74	+24.4%	COM	03674X106
AROC	ARCHROCK INC	48,618	$401K	0.1%	$6.43	0.0%	COM	03957W106
—	TOTALENERGIES SE	8,232	$395K	0.1%	$44.16	—	SPONSORED ADS	89151E109
—	SOUTHWESTERN ENERGY CO	70,547	$391K	0.1%	$4.68	—	COM	845467109
—	LAREDO PETROLEUM INC	3,860	$313K	0.1%	$81.09	—	COM	516806205
—	CHINA PETROLEUM & CHEMICAL C	6,024	$296K	0.1%	$78.60	—	SPON ADR H SHS	16941R108
—	CIMAREX ENERGY CO	3,117	$272K	0.1%	$87.26	—	COM	171798101
FNV	FRANCO NEV CORP	2,043	$265K	0.1%	$138.67	+1.5%	COM	351858105
BVN	COMPANIA DE MINAS BUENAVENTU	35,884	$243K	0.1%	$8.42	—	SPONSORED ADR	204448104
EPD	ENTERPRISE PRODS PARTNERS L	11,138	$241K	0.1%	$52.09	—	COM	293792107
WPM	WHEATON PRECIOUS METALS CORP	6,270	$236K	0.1%	$38.59	+7.6%	COM	962879102
EQT	EQT CORP	10,276	$210K	0.1%	$13.78	+31.8%	COM	26884L109
SXC	SUNCOKE ENERGY INC	32,488	$204K	0.1%	$6.25	+10.0%	COM	86722A103
CVE	CENOVUS ENERGY INC	17,935	$181K	0.1%	$7.74	0.0%	COM	15135U109
HMY	HARMONY GOLD MINING CO LTD	39,695	$125K	0.0%	$3.73	—	SPONSORED ADR	413216300