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
ANTERO RESOURCES CORP COM 03674X106 96,271 6,405,256 SH   SOLE   6,405,256 0 0
CANADIAN NAT RES LTD COM 136385101 12,039 331,842 SH   SOLE   331,842 0 0
CENTURY ALUM CO COM 156431108 4,239 328,853 SH   SOLE   328,853 0 0
CHESAPEAKE ENERGY CORP COM 165167735 41,812 805,322 SH   SOLE   805,322 0 0
CIMAREX ENERGY CO COM 171798101 46,289 638,915 SH   SOLE   638,915 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101 47,300 2,193,900 SH   SOLE   2,193,900 0 0
DEVON ENERGY CORP NEW COM 25179M103 13,149 450,462 SH   SOLE   450,462 0 0
DIAMONDBACK ENERGY INC COM 25278X109 12,585 134,039 SH   SOLE   134,039 0 0
ENERPLUS CORP COM 292766102 122,756 17,086,058 SH   SOLE   17,086,058 0 0
ENPHASE ENERGY INC COM 29355A107 4 750,000 SH Put OTR   0 0 750,000
EQT CORP COM 26884L109 42,697 1,918,120 SH   SOLE   1,918,120 0 0
EQUITRANS MIDSTREAM CORP COM 294600101 29,277 3,440,284 SH   SOLE   3,440,284 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 29,884 1,647,420 SH   SOLE   1,647,420 0 0
NOBLE CORP NEW SHS G6610J209 1,978 80,000 SH   SOLE   80,000 0 0
NRG ENERGY INC COM NEW 629377508 74,757 1,855,000 SH   SOLE   1,855,000 0 0
OASIS PETROLEUM INC COM NEW 674215207 62,979 626,345 SH   SOLE   626,345 0 0
PDC ENERGY INC COM 69327R101 11,008 240,397 SH   SOLE   240,397 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 59,422 5,031,522 SH   SOLE   5,031,522 0 0
SOLAREDGE TECHNOLOGIES INC COM 83417M104 17 163,800 SH Put OTR   0 0 163,800
STEEL DYNAMICS INC COM 858119100 20,821 349,342 SH   SOLE   349,342 0 0
SUNCOR ENERGY INC NEW COM 867224107 9,902 413,089 SH   SOLE   413,089 0 0
TECK RESOURCES LTD CL B 878742204 71,007 3,083,463 SH   SOLE   3,083,463 0 0
TURQUOISE HILL RES LTD COM 900435207 35,719 2,118,210 SH   SOLE   2,118,210 0 0
UNITED STATES STL CORP NEW COM 912909108 33,888 1,411,989 SH   SOLE   1,411,989 0 0
VALARIS LIMITED CL A G9460G101 11,521 398,913 SH   SOLE   398,913 0 0
VALERO ENERGY CORP COM 91913Y100 20,433 261,696 SH   SOLE   261,696 0 0
VINE ENERGY INC CL A 92735P103 9,303 596,740 SH   SOLE   596,740 0 0
VISTRA CORP COM 92840M102 4,081 220,000 SH   SOLE   220,000 0 0
WARRIOR MET COAL INC COM 93627C101 26,330 1,530,840 SH   SOLE   1,530,840 0 0
WEATHERFORD INTL PLC ORD SHS G48833118 2,730 150,000 SH   SOLE   150,000 0 0
WEST FRASER TIMBER CO LTD COM 952845105 1,219 17,000 SH   SOLE   17,000 0 0
WESTROCK CO COM 96145D105 12,557 235,938 SH   SOLE   235,938 0 0