The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLIANT ENERGY CORP COM 018802108 1,266 29,909 SH   SOLE   29,909 0 0
ALLIANT ENERGY CORP COM 018802108 11,540 272,690 SH   DFND 1 0 272,690 0
AMEREN CORP COM 023608102 2,867 47,113 SH   DFND 1 0 47,113 0
AMEREN CORP COM 023608102 505 8,306 SH   SOLE   8,306 0 0
ATMOS ENERGY CORP COM 049560105 478 5,300 SH   DFND 1 0 5,300 0
AVANGRID INC COM 05351W103 6,317 119,349 SH   DFND 1 0 119,349 0
AVANGRID INC COM 05351W103 549 10,378 SH   SOLE   10,378 0 0
CLEVELAND CLIFFS INC COM 185899101 3,257 386,383 SH   DFND 1 0 386,383 0
CLEVELAND CLIFFS INC COM 185899101 265 31,428 SH   SOLE   31,428 0 0
COMMERCIAL METALS CO COM 201723103 3,417 161,850 SH   DFND 1 0 161,850 0
COMMERCIAL METALS CO COM 201723103 278 13,164 SH   SOLE   13,164 0 0
DOMINION ENERGY INC COM 25746U109 471 6,914 SH   SOLE   6,914 0 0
EDISON INTL COM 281020107 11,036 174,432 SH   DFND 1 0 174,432 0
EDISON INTL COM 281020107 821 12,969 SH   SOLE   12,969 0 0
EL PASO ELEC CO COM NEW 283677854 700 11,850 SH   SOLE   11,850 0 0
EL PASO ELEC CO COM NEW 283677854 7,428 125,685 SH   DFND 1 0 125,685 0
ENTERGY CORP NEW COM 29364G103 10,301 127,500 SH   DFND 1 0 127,500 0
ENTERGY CORP NEW COM 29364G103 756 9,354 SH   SOLE   9,354 0 0
EVERGY INC COM 30034W106 19,068 339,591 SH   DFND 1 0 339,591 0
EVERGY INC COM 30034W106 1,551 27,622 SH   SOLE   27,622 0 0
EXELON CORP COM 30161N101 3,195 75,000 SH   DFND 1 0 75,000 0
FIRSTENERGY CORP COM 337932107 5,189 144,502 SH   DFND 1 0 144,502 0
FIRSTENERGY CORP COM 337932107 422 11,754 SH   SOLE   11,754 0 0
FORTIS INC COM 349553107 5,096 159,500 SH   DFND 1 0 159,500 0
FORTIS INC COM 349553107 415 12,982 SH   SOLE   12,982 0 0
HUDBAY MINERALS INC COM 443628102 25 4,437 SH   SOLE   4,437 0 0
HUDBAY MINERALS INC COM 443628102 304 54,549 SH   DFND 1 0 54,549 0
INFRAREIT INC COM 45685L100 1,504 67,843 SH   DFND 1 0 67,843 0
INFRAREIT INC COM 45685L100 122 5,519 SH   SOLE   5,519 0 0
NRG ENERGY INC COM NEW 629377508 3,224 105,000 SH   DFND 1 0 105,000 0
NRG ENERGY INC COM NEW 629377508 50 1,627 SH   SOLE   1,627 0 0
NUCOR CORP COM 670346105 395 6,320 SH   DFND 1 0 6,320 0
NUCOR CORP COM 670346105 32 514 SH   SOLE   514 0 0
OGE ENERGY CORP COM 670837103 9,683 275,000 SH   DFND 1 0 275,000 0
OGE ENERGY CORP COM 670837103 874 24,809 SH   SOLE   24,809 0 0
PG&E CORP COM 69331C108 10,925 256,685 SH   DFND 1 0 256,685 0
PG&E CORP COM 69331C108 975 22,913 SH   SOLE   22,913 0 0
PNM RES INC COM 69349H107 505 12,993 SH   SOLE   12,993 0 0
PNM RES INC COM 69349H107 2,442 62,785 SH   DFND 1 0 62,785 0
PORTLAND GEN ELEC CO COM NEW 736508847 237 5,548 SH   SOLE   5,548 0 0
PPL CORP COM 69351T106 581 20,336 SH   SOLE   20,336 0 0
PPL CORP COM 69351T106 999 35,000 SH   DFND 1 0 35,000 0
PROSHARES TR ULTRAPRO SHORT S 74347B268 470 11,750 SH   SOLE   11,750 0 0
RIO TINTO PLC SPONSORED ADR 767204100 310 5,588 SH   DFND 1 0 5,588 0
SCANA CORP NEW COM 80589M102 245 6,365 SH   SOLE   6,365 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 17,042 327,992 SH   DFND 1 0 327,992 0
SPARK ENERGY INC CL A COM 846511103 784 80,457 SH   DFND 1 0 80,457 0
SPARK ENERGY INC CL A COM 846511103 28 2,882 SH   SOLE   2,882 0 0
TECK RESOURCES LTD CL B 878742204 40,117 1,576,289 SH   DFND 1 0 1,576,289 0
TECK RESOURCES LTD CL B 878742204 2,619 102,914 SH   SOLE   102,914 0 0
VISTRA ENERGY CORP COM 92840M102 38 1,627 SH   SOLE   1,627 0 0
VISTRA ENERGY CORP COM 92840M102 1,301 54,981 SH   DFND 1 0 54,981 0