Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LFUS	LITTELFUSE INC	120,000	$54.64M	1.4%	—	—	COM	537008104
BWA	BORGWARNER INC	802,170	$53.26M	1.4%	—	—	COM	099724106
GTX	GARRETT MOTION INC	500,000	$18.11M	0.5%	—	—	COM	366505105
DPC	DPC HOLDINGS PLC	200,000	$9.812M	0.3%	—	—	ORDINARY SHARES	G2R11M108
EROC	EROCK INC	110,000	$1.595M	0.0%	—	—	CL A COM	296013105
SITE	SITEONE LANDSCAPE SUPPLY INC	2,900	$332K	0.0%	—	—	COM	82982L103

Increased Positions (9)

FSLR FIRST SOLAR INC 15.8%

Value $620M (+44.4%) Shares 2,628,130 (+20.7%) Est. Cost — Unrealized —

STM STMICROELECTRONICS N V 5.9%

Value $232M (+192.2%) Shares 3,100,000 (+34.8%) Est. Cost — Unrealized —

IP INTERNATIONAL PAPER CO 5.0%

Value $194M (+29.6%) Shares 5,100,000 (+21.4%) Est. Cost — Unrealized —

JHX JAMES HARDIE INDS PLC 3.8%

Value $150M (+40.7%) Shares 5,723,900 (+1.8%) Est. Cost — Unrealized —

WOLF WOLFSPEED INC 1.2%

Value $45.11M (+212.4%) Shares 935,000 (+5.6%) Est. Cost — Unrealized —

BA BOEING CO 3.4%

Value $135M (+22.6%) Shares 621,583 (+12.7%) Est. Cost — Unrealized —

WMS ADVANCED DRAIN SYS INC DEL 1.9%

Value $75.34M (+48.5%) Shares 480,000 (+29.7%) Est. Cost — Unrealized —

CNM CORE & MAIN INC 1.3%

Value $49.63M (+15.8%) Shares 1,028,650 (+18.6%) Est. Cost — Unrealized —

CRH CRH PLC 3.0%

Value $118M (+4.6%) Shares 1,106,400 (+2.8%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FSLR	FIRST SOLAR INC	2,628,130 (+20.7%)	$620M (+44.4%)	15.8%	—	—	COM	336433107
STM	STMICROELECTRONICS N V	3,100,000 (+34.8%)	$232M (+192.2%)	5.9%	—	—	NY REGISTRY	861012102
IP	INTERNATIONAL PAPER CO	5,100,000 (+21.4%)	$194M (+29.6%)	5.0%	—	—	COM	460146103
JHX	JAMES HARDIE INDS PLC	5,723,900 (+1.8%)	$150M (+40.7%)	3.8%	—	—	ORD SHS	G4253H101
WOLF	WOLFSPEED INC	935,000 (+5.6%)	$45.11M (+212.4%)	1.2%	—	—	COMMON STOCK	97785W106
BA	BOEING CO	621,583 (+12.7%)	$135M (+22.6%)	3.4%	—	—	COM	097023105
WMS	ADVANCED DRAIN SYS INC DEL	480,000 (+29.7%)	$75.34M (+48.5%)	1.9%	—	—	COM	00790R104
CNM	CORE & MAIN INC	1,028,650 (+18.6%)	$49.63M (+15.8%)	1.3%	—	—	CL A	21874C102
CRH	CRH PLC	1,106,400 (+2.8%)	$118M (+4.6%)	3.0%	—	—	ORD	G25508105

Exited Positions (1)

EQPT EQUIPMENTSHARE COM INC 0.4%

Value $15.28M Shares 750,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EQPT	EQUIPMENTSHARE COM INC	750,000	$15.28M	0.4%	—	—	—	29445S100

Unchanged Positions (13)

MTZ MASTEC INC 22.9%

Value $897M Shares 2,155,000 Est. Cost — Unrealized —

DY DYCOM INDS INC 13.0%

Value $511M Shares 1,009,784 Est. Cost — Unrealized —

GVA GRANITE CONSTR INC 4.5%

Value $176M Shares 1,110,248 Est. Cost — Unrealized —

ATKR ATKORE INC 1.4%

Value $55.06M Shares 724,106 Est. Cost — Unrealized —

ENS ENERSYS 1.1%

Value $44.43M Shares 190,000 Est. Cost — Unrealized —

TREX TREX INC 0.7%

Value $27.52M Shares 550,000 Est. Cost — Unrealized —

CX CEMEX SA EURO MTN BE 144A 3.3%

Value $130M Shares 10,802,750 Est. Cost — Unrealized —

WBI WATERBRIDGE INFRASTRUCTURE L 0.6%

Value $23.99M Shares 700,000 Est. Cost — Unrealized —

TFII TFI INTERNATIONAL INC 0.5%

Value $20.82M Shares 145,000 Est. Cost — Unrealized —

CTRI CENTURI HOLDINGS INC 3.1%

Value $122M Shares 4,030,000 Est. Cost — Unrealized —

ARRY ARRAY TECHNOLOGIES INC 2.4%

Value $95.52M Shares 12,891,300 Est. Cost — Unrealized —

MWH SOLV ENERGY INC 0.2%

Value $8.512M Shares 250,000 Est. Cost — Unrealized —

ATS ATS CORPORATION 1.2%

Value $47.48M Shares 1,649,857 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MTZ	MASTEC INC	2,155,000	$897M	22.9%	—	—	COM	576323109
DY	DYCOM INDS INC	1,009,784	$511M	13.0%	—	—	COM	267475101
GVA	GRANITE CONSTR INC	1,110,248	$176M	4.5%	—	—	COM	387328107
ATKR	ATKORE INC	724,106	$55.06M	1.4%	—	—	COM	047649108
ENS	ENERSYS	190,000	$44.43M	1.1%	—	—	COM	29275Y102
TREX	TREX INC	550,000	$27.52M	0.7%	—	—	COM	89531P105
CX	CEMEX SA EURO MTN BE 144A	10,802,750	$130M	3.3%	—	—	SPON ADR NEW	151290889
WBI	WATERBRIDGE INFRASTRUCTURE L	700,000	$23.99M	0.6%	—	—	CL A SHS REPSTG	940923105
TFII	TFI INTERNATIONAL INC	145,000	$20.82M	0.5%	—	—	COM	87241L109
CTRI	CENTURI HOLDINGS INC	4,030,000	$122M	3.1%	—	—	COM SHS	155923105
ARRY	ARRAY TECHNOLOGIES INC	12,891,300	$95.52M	2.4%	—	—	COM SHS	04271T100
MWH	SOLV ENERGY INC	250,000	$8.512M	0.2%	—	—	COM SHS CL A	78475V103
ATS	ATS CORPORATION	1,649,857	$47.48M	1.2%	—	—	COM	00217Y104