Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	TRANSCANADA CORP	789,473	$36.43M	4.9%	$46.15	—	COM	89353D107
TS	TENARIS S A	1,021,900	$34.89M	4.7%	$34.14	—	SPONSORED ADR	88031M109
—	ENERGEN CORP	628,872	$34.24M	4.6%	$49.33	—	COM	29265N108
—	CALLON PETE CO DEL	2,581,140	$33.97M	4.6%	$12.24	—	COM	13123X102
CTRA	CABOT OIL & GAS CORP	1,355,346	$32.41M	4.3%	$16.40	+1.0%	COM	127097103
—	RICE ENERGY INC	1,321,330	$31.32M	4.2%	$23.70	—	COM	762760106
COP	CONOCOPHILLIPS	611,435	$30.49M	4.1%	$33.57	+9.0%	COM	20825C104
—	CIMAREX ENERGY CO	233,903	$27.95M	3.7%	$99.25	—	COM	171798101
KMI	KINDER MORGAN INC DEL	1,260,600	$27.41M	3.7%	$13.36	+2.0%	COM	49456B101
—	DOW CHEM CO	425,388	$27.03M	3.6%	$56.66	—	COM	260543103
AR	ANTERO RES CORP	1,147,708	$26.18M	3.5%	$24.48	0.0%	COM	03674X106
—	QEP RES INC	1,992,895	$25.33M	3.4%	$13.03	—	COM	74733V100
—	BAKER HUGHES INC	399,100	$23.87M	3.2%	$59.82	—	COM	057224107
—	LAREDO PETROLEUM INC	1,406,947	$20.54M	2.8%	$14.60	—	COM	516806106
—	TESORO CORP	239,300	$19.4M	2.6%	$81.06	—	COM	881609101
—	NEWFIELD EXPL CO	513,235	$18.94M	2.5%	$36.91	—	COM	651290108
—	ENERPLUS CORP	2,149,229	$17.31M	2.3%	$7.65	—	COM	292766102
—	CONTINENTAL RESOURCES INC	370,600	$16.83M	2.3%	$45.42	—	COM	212015101
VLO	VALERO ENERGY CORP NEW	251,964	$16.7M	2.2%	$42.78	+9.9%	COM	91913Y100
PTEN	PATTERSON UTI ENERGY INC	685,345	$16.63M	2.2%	$25.37	+6.3%	COM	703481101
CE	CELANESE CORP DEL	151,897	$13.65M	1.8%	$73.64	0.0%	COM SER A	150870103
DVN	DEVON ENERGY CORP NEW	325,398	$13.58M	1.8%	$31.13	-0.3%	COM	25179M103
—	CHESAPEAKE ENERGY CORP	2,265,281	$13.46M	1.8%	$6.57	—	COM	165167107
HAL	HALLIBURTON CO	270,231	$13.3M	1.8%	$36.66	+23.1%	COM	406216101
—	ANADARKO PETE CORP	213,060	$13.21M	1.8%	$63.36	—	COM	032511107
—	OASIS PETE INC NEW	911,528	$13M	1.7%	$15.14	—	COM	674215108
—	WPX ENERGY INC	886,700	$11.87M	1.6%	$13.39	—	COM	98212B103
TRGP	TARGA RES CORP	186,356	$11.16M	1.5%	$28.99	+38.4%	COM	87612G101
EMN	EASTMAN CHEM CO	127,594	$10.31M	1.4%	$58.49	0.0%	COM	277432100
SU	SUNCOR ENERGY INC NEW	324,686	$9.984M	1.3%	$19.88	+14.1%	COM	867224107
—	U S SILICA HLDGS INC	205,713	$9.872M	1.3%	$20.20	—	COM	90346E103
APD	AIR PRODS & CHEMS INC	62,050	$8.395M	1.1%	$112.96	+0.1%	COM	009158106
MTDR	MATADOR RES CO	349,300	$8.31M	1.1%	$24.98	0.0%	COM	576485205
OII	OCEANEERING INTL INC	279,900	$7.58M	1.0%	$27.32	0.0%	COM	675232102
—	SRC ENERGY INC	787,600	$6.647M	0.9%	$8.44	—	COM	78470V108
PBA	PEMBINA PIPELINE CORP	206,142	$6.533M	0.9%	$19.87	0.0%	COM	706327103
—	C&J ENERGY SVCS INC NEW	187,570	$6.387M	0.9%	$34.05	—	COM	12674R100
OKE	ONEOK INC NEW	113,003	$6.265M	0.8%	$31.86	0.0%	COM	682680103
—	KRATON CORPORATION	193,100	$5.971M	0.8%	$30.92	—	COM	50077C106
CC	CHEMOURS CO	139,849	$5.384M	0.7%	$15.00	+46.8%	COM	163851108
NGVT	INGEVITY CORP	87,795	$5.342M	0.7%	$47.61	+18.8%	COM	45688C107
—	CORE LABORATORIES N V	44,200	$5.106M	0.7%	$115.52	—	COM	N22717107
—	RESOLUTE ENERGY CORP	116,800	$4.719M	0.6%	$40.89	—	COM NEW	76116A306
RES	RPC INC	221,900	$4.063M	0.5%	$14.01	+25.4%	COM	749660106
—	SUPERIOR ENERGY SVCS INC	279,255	$3.982M	0.5%	$14.26	—	COM	868157108
—	TRINSEO S A	50,901	$3.415M	0.5%	$56.66	—	SHS	L9340P101
FMC	F M C CORP	28,600	$1.99M	0.3%	$41.74	0.0%	COM NEW	302491303
—	INDEPENDENCE CONTRACT DRIL I	356,312	$1.963M	0.3%	$6.16	—	COM	453415309
—	KOSMOS ENERGY LTD	171,800	$1.144M	0.2%	$6.66	—	SHS	G5315B107
—	DIAMOND OFFSHORE DRILLING IN	34,867	$583K	0.1%	$16.72	—	COM	25271C102
DNOW	NOW INC	29,600	$502K	0.1%	$19.68	0.0%	COM	67011P100