CoreCommodity Management, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MP	MP MATERIALS CORP	29,394	$1,485	0.3%	$63.41	0.0%	COM CL A	553368101
AROC	ARCHROCK INC	34,399	$895	0.2%	$24.62	0.0%	COM	03957W106
GPRK	GEOPARK LTD	78,258	$580	0.1%	$7.32	0.0%	USD SHS	G38327105
TTI	TETRA TECHNOLOGIES INC DEL	61,039	$572	0.1%	$7.72	0.0%	COM	88162F105
ERII	ENERGY RECOVERY INC	25,151	$339	0.1%	$15.16	0.0%	COM	29270J100
SQM	SOCIEDAD QUIMICA Y MINERA DE	3,097	$213	0.0%	$68.80	—	SPON ADR SER B	833635105
B	BARRICK MNG CORP	4,816	$210	0.0%	$37.42	0.0%	COM SHS	06849F108

Increased Positions (19)

CVX CHEVRON CORP NEW 0.3%

Value ($000) $1,268 (+463.5%) Shares 8,320 (+474.2%) Est. Cost $149.02 Unrealized +1.6%

CNQ CANADIAN NAT RES LTD 0.3%

Value ($000) $1,429 (+244.3%) Shares 42,174 (+224.9%) Est. Cost $31.94 Unrealized +1.5%

EGO ELDORADO GOLD CORP NEW 0.4%

Value ($000) $1,750 (+75.8%) Shares 48,720 (+41.4%) Est. Cost $19.49 Unrealized +53.6%

DAR DARLING INGREDIENTS INC 0.7%

Value ($000) $3,244 (+29.3%) Shares 90,106 (+10.8%) Est. Cost $45.46 Unrealized -25.5%

TSN TYSON FOODS INC 0.8%

Value ($000) $3,911 (+22.8%) Shares 66,726 (+13.8%) Est. Cost $60.14 Unrealized -9.2%

OXY OCCIDENTAL PETE CORP 0.2%

Value ($000) $1,004 (+239.2%) Shares 24,426 (+289.8%) Est. Cost $45.19 Unrealized -8.1%

EFXT ENERFLEX LTD 0.3%

Value ($000) $1,292 (+102.1%) Shares 83,745 (+41.1%) Est. Cost $9.22 Unrealized +44.2%

NEM NEWMONT CORP 0.2%

Value ($000) $1,035 (+60.4%) Shares 10,355 (+35.3%) Est. Cost $55.50 Unrealized +62.5%

CRGY CRESCENT ENERGY COMPANY 0.1%

Value ($000) $449 (+286.2%) Shares 53,552 (+310.5%) Est. Cost $9.21 Unrealized -5.3%

NOV NOV INC 0.3%

Value ($000) $1,524 (+27.8%) Shares 97,521 (+8.3%) Est. Cost $15.25 Unrealized -2.7%

CHRD CHORD ENERGY CORPORATION 0.5%

Value ($000) $2,428 (+12.8%) Shares 26,190 (+20.9%) Est. Cost $108.00 Unrealized -14.8%

CALM CAL MAINE FOODS INC 0.4%

Value ($000) $2,031 (-11.9%) Shares 25,520 (+4.1%) Est. Cost $72.04 Unrealized +20.2%

ENPH ENPHASE ENERGY INC 0.1%

Value ($000) $660 (+54.8%) Shares 20,587 (+70.9%) Est. Cost $59.82 Unrealized -45.9%

CWT CALIFORNIA WTR SVC GROUP 0.3%

Value ($000) $1,373 (+17.0%) Shares 31,684 (+23.9%) Est. Cost $50.92 Unrealized -11.4%

AMPX AMPRIUS TECHNOLOGIES INC 0.1%

Value ($000) $584 (+43.2%) Shares 74,022 (+90.9%) Est. Cost $9.56 Unrealized +19.5%

WFG WEST FRASER TIMBER CO LTD 0.5%

Value ($000) $2,187 (-4.2%) Shares 35,796 (+6.5%) Est. Cost $75.32 Unrealized -16.9%

CIVI CIVITAS RESOURCES INC 0.6%

Value ($000) $3,031 (-2.4%) Shares 111,870 (+17.1%) Est. Cost $42.15 Unrealized -32.3%

VAL VALARIS LTD 0.2%

Value ($000) $1,026 (+6.2%) Shares 20,352 (+2.8%) Est. Cost $48.91 Unrealized +9.7%

DNOW DNOW INC 0.2%

Value ($000) $1,057 (+5.3%) Shares 79,765 (+21.2%) Est. Cost $13.16 Unrealized +6.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CVX	CHEVRON CORP NEW	8,320 (+474.2%)	$1,268 (+463.5%)	0.3%	$149.02	+1.6%	COM	166764100
CNQ	CANADIAN NAT RES LTD	42,174 (+224.9%)	$1,429 (+244.3%)	0.3%	$31.94	+1.5%	COM	136385101
EGO	ELDORADO GOLD CORP NEW	48,720 (+41.4%)	$1,750 (+75.8%)	0.4%	$19.49	+53.6%	COM	284902509
DAR	DARLING INGREDIENTS INC	90,106 (+10.8%)	$3,244 (+29.3%)	0.7%	$45.46	-25.5%	COM	237266101
TSN	TYSON FOODS INC	66,726 (+13.8%)	$3,911 (+22.8%)	0.8%	$60.14	-9.2%	CL A	902494103
OXY	OCCIDENTAL PETE CORP	24,426 (+289.8%)	$1,004 (+239.2%)	0.2%	$45.19	-8.1%	COM	674599105
EFXT	ENERFLEX LTD	83,745 (+41.1%)	$1,292 (+102.1%)	0.3%	$9.22	+44.2%	COM	29269R105
NEM	NEWMONT CORP	10,355 (+35.3%)	$1,035 (+60.4%)	0.2%	$55.50	+62.5%	COM	651639106
CRGY	CRESCENT ENERGY COMPANY	53,552 (+310.5%)	$449 (+286.2%)	0.1%	$9.21	-5.3%	CL A COM	44952J104
NOV	NOV INC	97,521 (+8.3%)	$1,524 (+27.8%)	0.3%	$15.25	-2.7%	COM	62955J103
CHRD	CHORD ENERGY CORPORATION	26,190 (+20.9%)	$2,428 (+12.8%)	0.5%	$108.00	-14.8%	COM NEW	674215207
CALM	CAL MAINE FOODS INC	25,520 (+4.1%)	$2,031 (-11.9%)	0.4%	$72.04	+20.2%	COM NEW	128030202
ENPH	ENPHASE ENERGY INC	20,587 (+70.9%)	$660 (+54.8%)	0.1%	$59.82	-45.9%	COM	29355A107
CWT	CALIFORNIA WTR SVC GROUP	31,684 (+23.9%)	$1,373 (+17.0%)	0.3%	$50.92	-11.4%	COM	130788102
AMPX	AMPRIUS TECHNOLOGIES INC	74,022 (+90.9%)	$584 (+43.2%)	0.1%	$9.56	+19.5%	COMMON STOCK	03214Q108
WFG	WEST FRASER TIMBER CO LTD	35,796 (+6.5%)	$2,187 (-4.2%)	0.5%	$75.32	-16.9%	COM	952845105
CIVI	CIVITAS RESOURCES INC	111,870 (+17.1%)	$3,031 (-2.4%)	0.6%	$42.15	-32.3%	COM NEW	17888H103
VAL	VALARIS LTD	20,352 (+2.8%)	$1,026 (+6.2%)	0.2%	$48.91	+9.7%	CL A	G9460G101
DNOW	DNOW INC	79,765 (+21.2%)	$1,057 (+5.3%)	0.2%	$13.16	+6.6%	COM	67011P100

Exited Positions (17)

FSLR FIRST SOLAR INC 0.4%

Value ($000) $1,751 Shares 7,939 Est. Cost $174.92 Unrealized +44.2%

HCC WARRIOR MET COAL INC 0.3%

Value ($000) $1,516 Shares 23,826 Est. Cost $59.69 Unrealized +26.0%

FMC FMC CORP 0.3%

Value ($000) $1,232 Shares 36,626 Est. Cost $78.71 Unrealized -75.9%

APA APA CORPORATION 0.2%

Value ($000) $1,137 Shares 46,817 Est. Cost $22.10 Unrealized +9.2%

FLNG FLEX LNG LTD 0.2%

Value ($000) $778 Shares 30,855 Est. Cost $21.51 Unrealized +16.4%

METC RAMACO RES INC 0.2%

Value ($000) $738 Shares 22,249 Est. Cost $9.74 Unrealized +169.8%

ORA ORMAT TECHNOLOGIES INC 0.1%

Value ($000) $565 Shares 5,870 Est. Cost $90.04 Unrealized +21.4%

MOS MOSAIC CO NEW 0.1%

Value ($000) $561 Shares 16,175 Est. Cost $27.20 Unrealized -1.6%

BSM BLACK STONE MINERALS L P 0.1%

Value ($000) $551 Shares 41,962 Est. Cost $15.47 Unrealized —

— ARIS WATER SOLUTIONS INC 0.1%

Value ($000) $544 Shares 22,054 Est. Cost $31.65 Unrealized —

CF CF INDS HLDGS INC 0.1%

Value ($000) $528 Shares 5,889 Est. Cost $64.14 Unrealized +27.7%

VNOM VIPER ENERGY INC 0.1%

Value ($000) $363 Shares 9,491 Est. Cost $38.10 Unrealized -0.6%

EQT EQT CORP 0.0%

Value ($000) $233 Shares 4,279 Est. Cost $40.68 Unrealized +38.0%

AR ANTERO RESOURCES CORP 0.0%

Value ($000) $225 Shares 6,718 Est. Cost $37.87 Unrealized -10.6%

MTUS METALLUS INC 0.0%

Value ($000) $182 Shares 10,994 Est. Cost $17.29 Unrealized -0.9%

SD SANDRIDGE ENERGY INC 0.0%

Value ($000) $129 Shares 11,448 Est. Cost $13.39 Unrealized -1.2%

BTG B2GOLD CORP 0.0%

Value ($000) $71 Shares 14,392 Est. Cost $3.12 Unrealized +49.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FSLR	FIRST SOLAR INC	7,939	$1,751	0.4%	$174.92	+44.2%	—	336433107
HCC	WARRIOR MET COAL INC	23,826	$1,516	0.3%	$59.69	+26.0%	—	93627C101
FMC	FMC CORP	36,626	$1,232	0.3%	$78.71	-75.9%	—	302491303
APA	APA CORPORATION	46,817	$1,137	0.2%	$22.10	+9.2%	—	03743Q108
FLNG	FLEX LNG LTD	30,855	$778	0.2%	$21.51	+16.4%	—	G35947202
METC	RAMACO RES INC	22,249	$738	0.2%	$9.74	+169.8%	—	75134P600
ORA	ORMAT TECHNOLOGIES INC	5,870	$565	0.1%	$90.04	+21.4%	—	686688102
MOS	MOSAIC CO NEW	16,175	$561	0.1%	$27.20	-1.6%	—	61945C103
BSM	BLACK STONE MINERALS L P	41,962	$551	0.1%	$15.47	—	—	09225M101
—	ARIS WATER SOLUTIONS INC	22,054	$544	0.1%	$31.65	—	—	04041L106
CF	CF INDS HLDGS INC	5,889	$528	0.1%	$64.14	+27.7%	—	125269100
VNOM	VIPER ENERGY INC	9,491	$363	0.1%	$38.10	-0.6%	—	64361Q101
EQT	EQT CORP	4,279	$233	0.0%	$40.68	+38.0%	—	26884L109
AR	ANTERO RESOURCES CORP	6,718	$225	0.0%	$37.87	-10.6%	—	03674X106
MTUS	METALLUS INC	10,994	$182	0.0%	$17.29	-0.9%	—	887399103
SD	SANDRIDGE ENERGY INC	11,448	$129	0.0%	$13.39	-1.2%	—	80007P869
BTG	B2GOLD CORP	14,392	$71	0.0%	$3.12	+49.6%	—	11777Q209

Decreased Positions (82)

CCNR FINANCIAL INVS TR 64.8%

Value ($000) $308,603 (-13.7%) Shares 9,415,125 (-19.3%) Est. Cost $25.28 Unrealized —

CNH CNH INDL N V 0.6%

Value ($000) $2,785 (-48.4%) Shares 41,012 (-68.7%) Est. Cost $10.50 Unrealized -4.8%

ADM ARCHER DANIELS MIDLAND CO 0.4%

Value ($000) $1,864 (-54.0%) Shares 32,422 (-52.2%) Est. Cost $68.13 Unrealized -12.7%

INGR INGREDION INC 0.3%

Value ($000) $1,431 (-60.4%) Shares 12,979 (-56.2%) Est. Cost $103.58 Unrealized +8.9%

SCCO SOUTHERN COPPER CORP 0.6%

Value ($000) $2,707 (-42.4%) Shares 18,865 (-51.3%) Est. Cost $92.89 Unrealized +42.9%

TALO TALOS ENERGY INC 0.0%

Value ($000) $159 (-92.6%) Shares 14,455 (-93.5%) Est. Cost $8.95 Unrealized +16.9%

TECK TECK RESOURCES LTD 0.5%

Value ($000) $2,432 (-43.9%) Shares 50,785 (-48.6%) Est. Cost $43.21 Unrealized +0.3%

EOG EOG RES INC 0.5%

Value ($000) $2,466 (-32.1%) Shares 23,483 (-27.5%) Est. Cost $110.60 Unrealized -3.1%

BKR BAKER HUGHES COMPANY 0.1%

Value ($000) $539 (-67.6%) Shares 11,830 (-65.4%) Est. Cost $40.04 Unrealized +18.2%

HBM HUDBAY MINERALS INC 1.6%

Value ($000) $7,718 (+16.5%) Shares 388,462 (-11.3%) Est. Cost $7.81 Unrealized +116.5%

HP HELMERICH & PAYNE INC 0.3%

Value ($000) $1,578 (-40.6%) Shares 55,022 (-54.3%) Est. Cost $29.67 Unrealized -10.5%

SM SM ENERGY CO 0.5%

Value ($000) $2,198 (-29.2%) Shares 117,556 (-5.4%) Est. Cost $34.14 Unrealized -41.4%

BE BLOOM ENERGY CORP 0.4%

Value ($000) $1,889 (-31.7%) Shares 21,742 (-33.5%) Est. Cost $46.44 Unrealized +126.3%

AA ALCOA CORP 1.1%

Value ($000) $5,017 (+20.9%) Shares 94,403 (-25.2%) Est. Cost $32.42 Unrealized +26.1%

SHLS SHOALS TECHNOLOGIES GROUP IN 0.9%

Value ($000) $4,057 (-16.9%) Shares 477,344 (-27.6%) Est. Cost $4.42 Unrealized +103.4%

HL HECLA MNG CO 0.3%

Value ($000) $1,497 (-34.4%) Shares 78,025 (-58.6%) Est. Cost $5.46 Unrealized +179.7%

LBRT LIBERTY ENERGY INC 1.0%

Value ($000) $4,847 (+18.8%) Shares 262,580 (-20.6%) Est. Cost $14.68 Unrealized +13.8%

NTR NUTRIEN LTD 0.1%

Value ($000) $348 (-68.6%) Shares 5,631 (-70.1%) Est. Cost $49.58 Unrealized +18.7%

COP CONOCOPHILLIPS 0.8%

Value ($000) $3,717 (-16.7%) Shares 39,705 (-15.8%) Est. Cost $102.60 Unrealized -12.3%

DVN DEVON ENERGY CORP NEW 0.6%

Value ($000) $2,695 (-18.1%) Shares 73,568 (-21.6%) Est. Cost $40.32 Unrealized -13.9%

FLNC FLUENCE ENERGY INC 0.6%

Value ($000) $3,020 (+24.0%) Shares 152,692 (-32.3%) Est. Cost $8.79 Unrealized +114.4%

EOSE EOS ENERGY ENTERPRISES INC 0.4%

Value ($000) $1,852 (-23.1%) Shares 161,649 (-23.6%) Est. Cost $4.88 Unrealized +194.4%

CTVA CORTEVA INC 0.5%

Value ($000) $2,436 (-18.3%) Shares 36,343 (-17.6%) Est. Cost $33.84 Unrealized +90.7%

PUMP PROPETRO HLDG CORP 0.4%

Value ($000) $2,042 (+35.2%) Shares 214,693 (-25.5%) Est. Cost $6.82 Unrealized +27.4%

MGY MAGNOLIA OIL & GAS CORP 0.4%

Value ($000) $1,826 (-22.2%) Shares 83,422 (-15.1%) Est. Cost $24.91 Unrealized -8.7%

NXE NEXGEN ENERGY LTD 0.0%

Value ($000) $209 (-71.3%) Shares 22,682 (-72.0%) Est. Cost $5.82 Unrealized +51.7%

NPKI NPK INTERNATIONAL INC 0.1%

Value ($000) $315 (-60.8%) Shares 26,414 (-62.8%) Est. Cost $7.18 Unrealized +70.0%

MUR MURPHY OIL CORP 1.0%

Value ($000) $4,652 (-8.2%) Shares 148,858 (-16.6%) Est. Cost $30.14 Unrealized -1.8%

AWK AMERICAN WTR WKS CO INC NEW 0.4%

Value ($000) $1,774 (-18.6%) Shares 13,593 (-13.2%) Est. Cost $140.03 Unrealized -4.9%

PPC PILGRIMS PRIDE CORP 0.4%

Value ($000) $1,670 (-19.4%) Shares 42,840 (-15.8%) Est. Cost $35.02 Unrealized +9.8%

DE DEERE & CO 0.2%

Value ($000) $1,011 (-27.4%) Shares 2,172 (-28.7%) Est. Cost $331.69 Unrealized +41.0%

TDW TIDEWATER INC NEW 0.3%

Value ($000) $1,640 (-18.9%) Shares 32,459 (-14.3%) Est. Cost $53.41 Unrealized -1.1%

SU SUNCOR ENERGY INC NEW 0.7%

Value ($000) $3,408 (-10.0%) Shares 76,739 (-15.3%) Est. Cost $35.18 Unrealized +20.1%

MTDR MATADOR RES CO 0.4%

Value ($000) $1,972 (-15.2%) Shares 46,465 (-10.2%) Est. Cost $44.16 Unrealized -4.9%

HLX HELIX ENERGY SOLUTIONS GRP I 0.3%

Value ($000) $1,288 (-21.1%) Shares 205,494 (-17.5%) Est. Cost $9.71 Unrealized -31.6%

VLTO VERALTO CORP 0.8%

Value ($000) $3,687 (-8.5%) Shares 36,947 (-2.2%) Est. Cost $105.29 Unrealized -4.1%

FCX FREEPORT-MCMORAN INC 0.6%

Value ($000) $3,046 (+12.1%) Shares 59,979 (-13.5%) Est. Cost $42.46 Unrealized +2.0%

OII OCEANEERING INTL INC 0.3%

Value ($000) $1,237 (-20.9%) Shares 51,493 (-18.4%) Est. Cost $16.92 Unrealized +42.8%

CSIQ CANADIAN SOLAR INC 0.1%

Value ($000) $666 (-30.6%) Shares 28,001 (-61.9%) Est. Cost $12.71 Unrealized +71.5%

CGAU CENTERRA GOLD INC 0.5%

Value ($000) $2,586 (+11.9%) Shares 179,502 (-16.9%) Est. Cost $6.54 Unrealized +91.4%

AEM AGNICO EAGLE MINES LTD 0.2%

Value ($000) $1,117 (-19.2%) Shares 6,588 (-19.8%) Est. Cost $73.71 Unrealized +127.7%

XOM EXXON MOBIL CORP 0.4%

Value ($000) $1,719 (-12.7%) Shares 14,282 (-18.2%) Est. Cost $109.70 Unrealized +5.3%

RNW RENEW ENERGY GLOBAL PLC 0.1%

Value ($000) $376 (-39.2%) Shares 66,605 (-17.1%) Est. Cost $6.51 Unrealized +11.0%

WTTR SELECT WATER SOLUTIONS INC 0.2%

Value ($000) $1,089 (-18.1%) Shares 103,503 (-16.8%) Est. Cost $8.32 Unrealized —

HRL HORMEL FOODS CORP 0.2%

Value ($000) $1,025 (-18.7%) Shares 43,268 (-15.2%) Est. Cost $34.78 Unrealized -33.0%

SXC SUNCOKE ENERGY INC 0.1%

Value ($000) $608 (-26.3%) Shares 84,382 (-16.5%) Est. Cost $8.02 Unrealized -8.2%

NE NOBLE CORP PLC 0.0%

Value ($000) $182 (-53.6%) Shares 10,011 (-43.0%) Est. Cost $34.83 Unrealized -16.1%

PAAS PAN AMERN SILVER CORP 0.3%

Value ($000) $1,374 (+16.6%) Shares 26,523 (-12.8%) Est. Cost $22.83 Unrealized +83.4%

ERO ERO COPPER CORP 0.3%

Value ($000) $1,339 (+15.8%) Shares 47,150 (-17.5%) Est. Cost $15.03 Unrealized +54.9%

RYN RAYONIER INC 0.1%

Value ($000) $582 (-23.3%) Shares 26,878 (-6.0%) Est. Cost $28.99 Unrealized —

CENX CENTURY ALUM CO 0.6%

Value ($000) $2,718 (+6.6%) Shares 69,384 (-20.1%) Est. Cost $17.31 Unrealized +80.5%

CRC CALIFORNIA RES CORP 0.1%

Value ($000) $423 (-28.0%) Shares 9,468 (-14.4%) Est. Cost $42.79 Unrealized +10.2%

BTE BAYTEX ENERGY CORP 0.7%

Value ($000) $3,258 (+5.0%) Shares 1,006,566 (-23.9%) Est. Cost $2.44 Unrealized +14.2%

HTO H2O AMERICA 0.2%

Value ($000) $831 (-14.8%) Shares 16,958 (-15.3%) Est. Cost $51.18 Unrealized -6.3%

HAL HALLIBURTON CO 0.5%

Value ($000) $2,407 (-5.6%) Shares 85,189 (-17.8%) Est. Cost $26.68 Unrealized -1.5%

PCH POTLATCHDELTIC CORPORATION 0.2%

Value ($000) $762 (-15.3%) Shares 19,144 (-13.2%) Est. Cost $41.35 Unrealized —

FDP FRESH DEL MONTE PRODUCE INC 0.1%

Value ($000) $678 (-16.2%) Shares 19,035 (-18.4%) Est. Cost $30.74 Unrealized +15.7%

ALB ALBEMARLE CORP 0.1%

Value ($000) $383 (+51.2%) Shares 2,706 (-13.4%) Est. Cost $144.45 Unrealized -21.6%

ICL ICL GROUP LTD 0.1%

Value ($000) $359 (-23.0%) Shares 62,847 (-16.2%) Est. Cost $7.52 Unrealized -23.0%

TWI TITAN INTL INC ILL 0.1%

Value ($000) $448 (-18.6%) Shares 57,189 (-21.4%) Est. Cost $8.27 Unrealized -5.2%

FSM FORTUNA MNG CORP 0.2%

Value ($000) $754 (-10.3%) Shares 76,897 (-18.1%) Est. Cost $7.30 Unrealized +23.3%

NFG NATIONAL FUEL GAS CO 0.0%

Value ($000) $203 (-29.6%) Shares 2,535 (-18.7%) Est. Cost $59.89 Unrealized +37.6%

MUX MCEWEN INC. 0.2%

Value ($000) $734 (-10.3%) Shares 39,671 (-17.1%) Est. Cost $11.97 Unrealized +55.4%

CDE COEUR MNG INC 0.1%

Value ($000) $296 (-21.5%) Shares 16,590 (-17.4%) Est. Cost $6.17 Unrealized +181.8%

VET VERMILION ENERGY INC 0.1%

Value ($000) $680 (-10.6%) Shares 81,687 (-16.2%) Est. Cost $11.28 Unrealized -26.8%

AGCO AGCO CORP 0.1%

Value ($000) $602 (-11.7%) Shares 5,768 (-9.3%) Est. Cost $109.90 Unrealized -3.6%

GPRE GREEN PLAINS INC 0.2%

Value ($000) $913 (-7.0%) Shares 93,191 (-16.6%) Est. Cost $8.76 Unrealized +14.9%

IAG IAMGOLD CORP 0.1%

Value ($000) $633 (+11.3%) Shares 38,363 (-12.8%) Est. Cost $6.95 Unrealized +102.7%

PTEN PATTERSON-UTI ENERGY INC 0.5%

Value ($000) $2,178 (-2.7%) Shares 356,461 (-17.5%) Est. Cost $8.94 Unrealized -33.2%

KOS KOSMOS ENERGY LTD 0.0%

Value ($000) $17 (-77.1%) Shares 19,180 (-58.1%) Est. Cost $1.87 Unrealized -29.5%

TX TERNIUM SA 0.2%

Value ($000) $779 (-6.7%) Shares 20,389 (-15.2%) Est. Cost $31.16 Unrealized —

RES RPC INC 0.2%

Value ($000) $1,180 (-4.5%) Shares 216,889 (-16.5%) Est. Cost $6.14 Unrealized -16.2%

DQ DAQO NEW ENERGY CORP 0.1%

Value ($000) $362 (-12.8%) Shares 12,283 (-16.8%) Est. Cost $21.61 Unrealized —

CTRA COTERRA ENERGY INC 0.4%

Value ($000) $1,943 (+2.7%) Shares 73,841 (-7.7%) Est. Cost $22.75 Unrealized +10.3%

CMP COMPASS MINERALS INTL INC 0.1%

Value ($000) $258 (-14.8%) Shares 13,145 (-16.7%) Est. Cost $11.49 Unrealized +61.0%

PDS PRECISION DRILLING CORP 0.1%

Value ($000) $554 (+7.3%) Shares 7,718 (-15.9%) Est. Cost $54.40 Unrealized +12.9%

DOLE DOLE PLC 0.1%

Value ($000) $661 (-4.6%) Shares 44,085 (-14.4%) Est. Cost $14.82 Unrealized -6.0%

CLB CORE LABORATORIES INC 0.1%

Value ($000) $571 (+4.8%) Shares 35,626 (-19.2%) Est. Cost $17.21 Unrealized -13.6%

ARRY ARRAY TECHNOLOGIES INC 0.1%

Value ($000) $349 (-6.3%) Shares 37,891 (-17.2%) Est. Cost $7.54 Unrealized +13.8%

PR PERMIAN RESOURCES CORP 0.1%

Value ($000) $436 (-3.9%) Shares 31,101 (-12.3%) Est. Cost $12.79 Unrealized +5.0%

CLF CLEVELAND-CLIFFS INC NEW 0.0%

Value ($000) $139 (-7.9%) Shares 10,444 (-15.4%) Est. Cost $14.89 Unrealized -15.2%

FANG DIAMONDBACK ENERGY INC 0.1%

Value ($000) $268 (+1.2%) Shares 1,782 (-3.6%) Est. Cost $136.16 Unrealized +8.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CCNR	FINANCIAL INVS TR	9,415,125 (-19.3%)	$308,603 (-13.7%)	64.8%	$25.28	—	CORECOMMODITY NA	31761T886
CNH	CNH INDL N V	41,012 (-68.7%)	$2,785 (-48.4%)	0.6%	$10.50	-4.8%	SHS	N20944109
ADM	ARCHER DANIELS MIDLAND CO	32,422 (-52.2%)	$1,864 (-54.0%)	0.4%	$68.13	-12.7%	COM	039483102
INGR	INGREDION INC	12,979 (-56.2%)	$1,431 (-60.4%)	0.3%	$103.58	+8.9%	COM	457187102
SCCO	SOUTHERN COPPER CORP	18,865 (-51.3%)	$2,707 (-42.4%)	0.6%	$92.89	+42.9%	COM	84265V105
TALO	TALOS ENERGY INC	14,455 (-93.5%)	$159 (-92.6%)	0.0%	$8.95	+16.9%	COM	87484T108
TECK	TECK RESOURCES LTD	50,785 (-48.6%)	$2,432 (-43.9%)	0.5%	$43.21	+0.3%	CL B	878742204
EOG	EOG RES INC	23,483 (-27.5%)	$2,466 (-32.1%)	0.5%	$110.60	-3.1%	COM	26875P101
BKR	BAKER HUGHES COMPANY	11,830 (-65.4%)	$539 (-67.6%)	0.1%	$40.04	+18.2%	CL A	05722G100
HBM	HUDBAY MINERALS INC	388,462 (-11.3%)	$7,718 (+16.5%)	1.6%	$7.81	+116.5%	COM	443628102
HP	HELMERICH & PAYNE INC	55,022 (-54.3%)	$1,578 (-40.6%)	0.3%	$29.67	-10.5%	COM	423452101
SM	SM ENERGY CO	117,556 (-5.4%)	$2,198 (-29.2%)	0.5%	$34.14	-41.4%	COM	78454L100
BE	BLOOM ENERGY CORP	21,742 (-33.5%)	$1,889 (-31.7%)	0.4%	$46.44	+126.3%	COM CL A	093712107
AA	ALCOA CORP	94,403 (-25.2%)	$5,017 (+20.9%)	1.1%	$32.42	+26.1%	COM	013872106
SHLS	SHOALS TECHNOLOGIES GROUP IN	477,344 (-27.6%)	$4,057 (-16.9%)	0.9%	$4.42	+103.4%	CL A	82489W107
HL	HECLA MNG CO	78,025 (-58.6%)	$1,497 (-34.4%)	0.3%	$5.46	+179.7%	COM	422704106
LBRT	LIBERTY ENERGY INC	262,580 (-20.6%)	$4,847 (+18.8%)	1.0%	$14.68	+13.8%	COM CL A	53115L104
NTR	NUTRIEN LTD	5,631 (-70.1%)	$348 (-68.6%)	0.1%	$49.58	+18.7%	COM	67077M108
COP	CONOCOPHILLIPS	39,705 (-15.8%)	$3,717 (-16.7%)	0.8%	$102.60	-12.3%	COM	20825C104
DVN	DEVON ENERGY CORP NEW	73,568 (-21.6%)	$2,695 (-18.1%)	0.6%	$40.32	-13.9%	COM	25179M103
FLNC	FLUENCE ENERGY INC	152,692 (-32.3%)	$3,020 (+24.0%)	0.6%	$8.79	+114.4%	COM CL A	34379V103
EOSE	EOS ENERGY ENTERPRISES INC	161,649 (-23.6%)	$1,852 (-23.1%)	0.4%	$4.88	+194.4%	COM CL A	29415C101
CTVA	CORTEVA INC	36,343 (-17.6%)	$2,436 (-18.3%)	0.5%	$33.84	+90.7%	COM	22052L104
PUMP	PROPETRO HLDG CORP	214,693 (-25.5%)	$2,042 (+35.2%)	0.4%	$6.82	+27.4%	COM	74347M108
MGY	MAGNOLIA OIL & GAS CORP	83,422 (-15.1%)	$1,826 (-22.2%)	0.4%	$24.91	-8.7%	CL A	559663109
NXE	NEXGEN ENERGY LTD	22,682 (-72.0%)	$209 (-71.3%)	0.0%	$5.82	+51.7%	COM	65340P106
NPKI	NPK INTERNATIONAL INC	26,414 (-62.8%)	$315 (-60.8%)	0.1%	$7.18	+70.0%	COM SHS	651718504
MUR	MURPHY OIL CORP	148,858 (-16.6%)	$4,652 (-8.2%)	1.0%	$30.14	-1.8%	COM	626717102
AWK	AMERICAN WTR WKS CO INC NEW	13,593 (-13.2%)	$1,774 (-18.6%)	0.4%	$140.03	-4.9%	COM	030420103
PPC	PILGRIMS PRIDE CORP	42,840 (-15.8%)	$1,670 (-19.4%)	0.4%	$35.02	+9.8%	COM	72147K108
DE	DEERE & CO	2,172 (-28.7%)	$1,011 (-27.4%)	0.2%	$331.69	+41.0%	COM	244199105
TDW	TIDEWATER INC NEW	32,459 (-14.3%)	$1,640 (-18.9%)	0.3%	$53.41	-1.1%	COM	88642R109
SU	SUNCOR ENERGY INC NEW	76,739 (-15.3%)	$3,408 (-10.0%)	0.7%	$35.18	+20.1%	COM	867224107
MTDR	MATADOR RES CO	46,465 (-10.2%)	$1,972 (-15.2%)	0.4%	$44.16	-4.9%	COM	576485205
HLX	HELIX ENERGY SOLUTIONS GRP I	205,494 (-17.5%)	$1,288 (-21.1%)	0.3%	$9.71	-31.6%	COM	42330P107
VLTO	VERALTO CORP	36,947 (-2.2%)	$3,687 (-8.5%)	0.8%	$105.29	-4.1%	COM SHS	92338C103
FCX	FREEPORT-MCMORAN INC	59,979 (-13.5%)	$3,046 (+12.1%)	0.6%	$42.46	+2.0%	CL B	35671D857
OII	OCEANEERING INTL INC	51,493 (-18.4%)	$1,237 (-20.9%)	0.3%	$16.92	+42.8%	COM	675232102
CSIQ	CANADIAN SOLAR INC	28,001 (-61.9%)	$666 (-30.6%)	0.1%	$12.71	+71.5%	COM	136635109
CGAU	CENTERRA GOLD INC	179,502 (-16.9%)	$2,586 (+11.9%)	0.5%	$6.54	+91.4%	COM	152006102
AEM	AGNICO EAGLE MINES LTD	6,588 (-19.8%)	$1,117 (-19.2%)	0.2%	$73.71	+127.7%	COM	008474108
XOM	EXXON MOBIL CORP	14,282 (-18.2%)	$1,719 (-12.7%)	0.4%	$109.70	+5.3%	COM	30231G102
RNW	RENEW ENERGY GLOBAL PLC	66,605 (-17.1%)	$376 (-39.2%)	0.1%	$6.51	+11.0%	CL A SHS	G7500M104
WTTR	SELECT WATER SOLUTIONS INC	103,503 (-16.8%)	$1,089 (-18.1%)	0.2%	$8.32	—	CL A COM	81617J301
HRL	HORMEL FOODS CORP	43,268 (-15.2%)	$1,025 (-18.7%)	0.2%	$34.78	-33.0%	COM	440452100
SXC	SUNCOKE ENERGY INC	84,382 (-16.5%)	$608 (-26.3%)	0.1%	$8.02	-8.2%	COM	86722A103
NE	NOBLE CORP PLC	10,011 (-43.0%)	$182 (-53.6%)	0.0%	$34.83	-16.1%	ORD SHS A	G65431127
PAAS	PAN AMERN SILVER CORP	26,523 (-12.8%)	$1,374 (+16.6%)	0.3%	$22.83	+83.4%	COM	697900108
ERO	ERO COPPER CORP	47,150 (-17.5%)	$1,339 (+15.8%)	0.3%	$15.03	+54.9%	COM	296006109
RYN	RAYONIER INC	26,878 (-6.0%)	$582 (-23.3%)	0.1%	$28.99	—	COM	754907103
CENX	CENTURY ALUM CO	69,384 (-20.1%)	$2,718 (+6.6%)	0.6%	$17.31	+80.5%	COM	156431108
CRC	CALIFORNIA RES CORP	9,468 (-14.4%)	$423 (-28.0%)	0.1%	$42.79	+10.2%	COM STOCK	13057Q305
BTE	BAYTEX ENERGY CORP	1,006,566 (-23.9%)	$3,258 (+5.0%)	0.7%	$2.44	+14.2%	COM	07317Q105
HTO	H2O AMERICA	16,958 (-15.3%)	$831 (-14.8%)	0.2%	$51.18	-6.3%	COM	784305104
HAL	HALLIBURTON CO	85,189 (-17.8%)	$2,407 (-5.6%)	0.5%	$26.68	-1.5%	COM	406216101
PCH	POTLATCHDELTIC CORPORATION	19,144 (-13.2%)	$762 (-15.3%)	0.2%	$41.35	—	COM	737630103
FDP	FRESH DEL MONTE PRODUCE INC	19,035 (-18.4%)	$678 (-16.2%)	0.1%	$30.74	+15.7%	ORD	G36738105
ALB	ALBEMARLE CORP	2,706 (-13.4%)	$383 (+51.2%)	0.1%	$144.45	-21.6%	COM	012653101
ICL	ICL GROUP LTD	62,847 (-16.2%)	$359 (-23.0%)	0.1%	$7.52	-23.0%	SHS	M53213100
TWI	TITAN INTL INC ILL	57,189 (-21.4%)	$448 (-18.6%)	0.1%	$8.27	-5.2%	COM	88830M102
FSM	FORTUNA MNG CORP	76,897 (-18.1%)	$754 (-10.3%)	0.2%	$7.30	+23.3%	COM NEW	349942102
NFG	NATIONAL FUEL GAS CO	2,535 (-18.7%)	$203 (-29.6%)	0.0%	$59.89	+37.6%	COM	636180101
MUX	MCEWEN INC.	39,671 (-17.1%)	$734 (-10.3%)	0.2%	$11.97	+55.4%	COM NEW	58039P305
CDE	COEUR MNG INC	16,590 (-17.4%)	$296 (-21.5%)	0.1%	$6.17	+181.8%	COM NEW	192108504
VET	VERMILION ENERGY INC	81,687 (-16.2%)	$680 (-10.6%)	0.1%	$11.28	-26.8%	COM	923725105
AGCO	AGCO CORP	5,768 (-9.3%)	$602 (-11.7%)	0.1%	$109.90	-3.6%	COM	001084102
GPRE	GREEN PLAINS INC	93,191 (-16.6%)	$913 (-7.0%)	0.2%	$8.76	+14.9%	COM	393222104
IAG	IAMGOLD CORP	38,363 (-12.8%)	$633 (+11.3%)	0.1%	$6.95	+102.7%	COM	450913108
PTEN	PATTERSON-UTI ENERGY INC	356,461 (-17.5%)	$2,178 (-2.7%)	0.5%	$8.94	-33.2%	COM	703481101
KOS	KOSMOS ENERGY LTD	19,180 (-58.1%)	$17 (-77.1%)	0.0%	$1.87	-29.5%	COM	500688106
TX	TERNIUM SA	20,389 (-15.2%)	$779 (-6.7%)	0.2%	$31.16	—	SPONSORED ADS	880890108
RES	RPC INC	216,889 (-16.5%)	$1,180 (-4.5%)	0.2%	$6.14	-16.2%	COM	749660106
DQ	DAQO NEW ENERGY CORP	12,283 (-16.8%)	$362 (-12.8%)	0.1%	$21.61	—	SPNSRD ADS NEW	23703Q203
CTRA	COTERRA ENERGY INC	73,841 (-7.7%)	$1,943 (+2.7%)	0.4%	$22.75	+10.3%	COM	127097103
CMP	COMPASS MINERALS INTL INC	13,145 (-16.7%)	$258 (-14.8%)	0.1%	$11.49	+61.0%	COM	20451N101
PDS	PRECISION DRILLING CORP	7,718 (-15.9%)	$554 (+7.3%)	0.1%	$54.40	+12.9%	COM NEW	74022D407
DOLE	DOLE PLC	44,085 (-14.4%)	$661 (-4.6%)	0.1%	$14.82	-6.0%	ORD SHS	G27907107
CLB	CORE LABORATORIES INC	35,626 (-19.2%)	$571 (+4.8%)	0.1%	$17.21	-13.6%	COM	21867A105
ARRY	ARRAY TECHNOLOGIES INC	37,891 (-17.2%)	$349 (-6.3%)	0.1%	$7.54	+13.8%	COM SHS	04271T100
PR	PERMIAN RESOURCES CORP	31,101 (-12.3%)	$436 (-3.9%)	0.1%	$12.79	+5.0%	CLASS A COM	71424F105
CLF	CLEVELAND-CLIFFS INC NEW	10,444 (-15.4%)	$139 (-7.9%)	0.0%	$14.89	-15.2%	COM	185899101
FANG	DIAMONDBACK ENERGY INC	1,782 (-3.6%)	$268 (+1.2%)	0.1%	$136.16	+8.0%	COM	25278X109

Unchanged Positions (9)

SLB SLB LIMITED 0.4%

Value ($000) $1,797 Shares 46,820 Est. Cost $35.70 Unrealized +1.0%

XPRO EXPRO GROUP HOLDINGS NV 0.3%

Value ($000) $1,649 Shares 123,555 Est. Cost $12.29 Unrealized +9.7%

RIO RIO TINTO PLC 0.1%

Value ($000) $551 Shares 6,890 Est. Cost $66.28 Unrealized —

VALE VALE S A 0.1%

Value ($000) $298 Shares 22,903 Est. Cost $11.13 Unrealized —

BHP BHP GROUP LTD 0.1%

Value ($000) $533 Shares 8,828 Est. Cost $59.42 Unrealized —

GGB GERDAU SA 0.0%

Value ($000) $179 Shares 48,408 Est. Cost $2.98 Unrealized —

PBR PETROLEO BRASILEIRO SA PETRO 0.0%

Value ($000) $143 Shares 12,064 Est. Cost $15.17 Unrealized —

EQNR EQUINOR ASA 0.0%

Value ($000) $226 Shares 9,561 Est. Cost $24.38 Unrealized —

CVE CENOVUS ENERGY INC 0.1%

Value ($000) $431 Shares 25,455 Est. Cost $14.43 Unrealized +20.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SLB	SLB LIMITED	46,820	$1,797	0.4%	$35.70	+1.0%	COM STK	806857108
XPRO	EXPRO GROUP HOLDINGS NV	123,555	$1,649	0.3%	$12.29	+9.7%	COM	N3144W105
RIO	RIO TINTO PLC	6,890	$551	0.1%	$66.28	—	SPONSORED ADR	767204100
VALE	VALE S A	22,903	$298	0.1%	$11.13	—	SPONSORED ADS	91912E105
BHP	BHP GROUP LTD	8,828	$533	0.1%	$59.42	—	SPONSORED ADS	088606108
GGB	GERDAU SA	48,408	$179	0.0%	$2.98	—	SPON ADR REP PFD	373737105
PBR	PETROLEO BRASILEIRO SA PETRO	12,064	$143	0.0%	$15.17	—	SPONSORED ADR	71654V408
EQNR	EQUINOR ASA	9,561	$226	0.0%	$24.38	—	SPONSORED ADR	29446M102
CVE	CENOVUS ENERGY INC	25,455	$431	0.1%	$14.43	+20.4%	COM	15135U109