Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	PARSLEY ENERGY INC	1,445,045	$40.1M	6.0%	$27.75	—	CL A	701877102
—	CIMAREX ENERGY CO	415,521	$39.06M	5.9%	$96.96	—	COM	171798101
—	CALLON PETE CO DEL	3,396,218	$36.03M	5.4%	$11.85	—	COM	13123X102
OKE	ONEOK INC NEW	570,770	$29.77M	4.5%	$30.62	-1.0%	COM	682680103
—	CONTINENTAL RESOURCES INC	906,302	$29.3M	4.4%	$37.68	—	COM	212015101
DVN	DEVON ENERGY CORP NEW	870,105	$27.82M	4.2%	$27.83	-7.1%	COM	25179M103
—	QEP RES INC	2,646,158	$26.73M	4.0%	$12.31	—	COM	74733V100
—	NEWFIELD EXPL CO	933,219	$26.56M	4.0%	$33.11	—	COM	651290108
—	CORE LABORATORIES N V	221,037	$22.38M	3.4%	$104.12	—	COM	N22717107
SU	SUNCOR ENERGY INC NEW	760,478	$22.21M	3.3%	$21.28	+4.9%	COM	867224107
—	RICE ENERGY INC	780,530	$20.79M	3.1%	$23.70	—	COM	762760106
—	DOW CHEM CO	304,677	$19.22M	2.9%	$56.66	—	COM	260543103
TS	TENARIS S A	589,303	$18.35M	2.8%	$34.14	—	SPONSORED ADR	88031M109
FMC	F M C CORP	250,149	$18.27M	2.7%	$50.92	+2.3%	COM NEW	302491303
—	WPX ENERGY INC	1,736,569	$16.77M	2.5%	$11.56	—	COM	98212B103
PTEN	PATTERSON UTI ENERGY INC	818,347	$16.52M	2.5%	$24.79	-12.1%	COM	703481101
—	NOBLE ENERGY INC	572,270	$16.2M	2.4%	$28.30	—	COM	655044105
EMN	EASTMAN CHEM CO	186,403	$15.66M	2.3%	$59.07	+2.1%	COM	277432100
CE	CELANESE CORP DEL	157,197	$14.92M	2.2%	$73.70	+2.5%	COM SER A	150870103
HAL	HALLIBURTON CO	327,375	$13.98M	2.1%	$37.01	+4.5%	COM	406216101
MUSA	MURPHY USA INC	184,844	$13.7M	2.1%	$68.00	0.0%	COM	626755102
SHW	SHERWIN WILLIAMS CO	38,300	$13.44M	2.0%	$103.46	0.0%	COM	824348106
COP	CONOCOPHILLIPS	288,137	$12.67M	1.9%	$33.57	+5.7%	COM	20825C104
CC	CHEMOURS CO	306,705	$11.63M	1.7%	$22.55	+28.1%	COM	163851108
RES	RPC INC	556,916	$11.26M	1.7%	$15.55	+6.6%	COM	749660106
CTRA	CABOT OIL & GAS CORP	448,446	$11.25M	1.7%	$16.40	+5.3%	COM	127097103
PBA	PEMBINA PIPELINE CORP	331,942	$10.99M	1.6%	$20.10	+1.9%	COM	706327103
—	TRANSCANADA CORP	230,635	$10.99M	1.6%	$46.15	—	COM	89353D107
—	TESORO CORP	112,930	$10.57M	1.6%	$81.06	—	COM	881609101
APD	AIR PRODS & CHEMS INC	68,850	$9.85M	1.5%	$113.15	+1.5%	COM	009158106
—	KEANE GROUP INC	569,044	$9.105M	1.4%	$16.00	—	COM	48669A108
—	ENERPLUS CORP	1,052,034	$8.535M	1.3%	$7.65	—	COM	292766102
OLN	OLIN CORP	203,523	$6.163M	0.9%	$24.09	0.0%	COM PAR $1	680665205
NGVT	INGEVITY CORP	106,333	$6.104M	0.9%	$49.56	+18.7%	COM	45688C107
—	POLYONE CORP	152,338	$5.902M	0.9%	$38.74	—	COM	73179P106
ENB	ENBRIDGE INC	129,200	$5.143M	0.8%	$23.83	0.0%	COM	29250N105
—	BEMIS INC	105,738	$4.89M	0.7%	$46.25	—	COM	081437105
—	TRONOX LTD	312,162	$4.72M	0.7%	$15.12	—	SHS CL A	Q9235V101
OII	OCEANEERING INTL INC	187,500	$4.283M	0.6%	$27.32	-6.9%	COM	675232102
—	MRC GLOBAL INC	249,500	$4.122M	0.6%	$16.52	—	COM	55345K103
—	LAREDO PETROLEUM INC	346,972	$3.65M	0.5%	$14.60	—	COM	516806106
—	JAGGED PEAK ENERGY INC	231,839	$3.095M	0.5%	$13.35	—	COM	47009K107
—	U S SILICA HLDGS INC	81,244	$2.883M	0.4%	$20.20	—	COM	90346E103
—	SRC ENERGY INC	428,204	$2.882M	0.4%	$8.44	—	COM	78470V108
—	C&J ENERGY SVCS INC NEW	54,237	$1.859M	0.3%	$34.05	—	COM	12674R100
—	EXTRACTION OIL AND GAS INC	120,022	$1.614M	0.2%	$13.45	—	COM	30227M105
—	RESOLUTE ENERGY CORP	50,200	$1.494M	0.2%	$40.89	—	COM NEW	76116A306
—	KOSMOS ENERGY LTD	169,176	$1.084M	0.2%	$6.66	—	SHS	G5315B107
—	EARTHSTONE ENERGY INC	102,100	$1.022M	0.2%	$10.01	—	CL A	27032D304
—	INDEPENDENCE CONTRACT DRIL I	213,157	$829K	0.1%	$6.16	—	COM	453415309