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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | ANTERO RESOURCES CORP | $26.2M | 617800 | 10.24% |
| 2 | DIAMONDBACK ENERGY INC | $24.5M | 123900 | 9.58% |
| 3 | SM ENERGY COMPANY | $17.5M | 560000 | 6.82% |
| 4 | GULFPORT ENERGY CORP | $17.2M | 81100 | 6.70% |
| 5 | SUNCOR ENERGY INC NEW | $15.5M | 234100 | 6.05% |
| 6 | MAGNOLIA OIL & GAS CORP | $12.6M | 398000 | 4.91% |
| 7 | BKV CORP | $11.8M | 413083 | 4.60% |
| 8 | IMPERIAL OIL LTD | $10.9M | 83700 | 4.28% |
| 9 | MATADOR RES CO | $8.9M | 140200 | 3.46% |
| 10 | PATTERSON-UTI ENERGY INC | $8.3M | 769600 | 3.26% |
| 11 | VENTURE GLOBAL INC | $7.7M | 486600 | 3.00% |
| 12 | CALIFORNIA RES CORP | $7.6M | 109700 | 2.97% |
| 13 | WILLIAMS COS INC | $7.5M | 103200 | 2.93% |
| 14 | CENOVUS ENERGY INC | $6.3M | 236500 | 2.45% |
| 15 | TORM PLC | $6.2M | 222000 | 2.42% |
| 16 | PHILLIPS 66 | $5.8M | 32000 | 2.28% |
| 17 | COMSTOCK RES INC | $5.3M | 250369 | 2.06% |
| 18 | BP PLC | $5.3M | 112000 | 2.06% |
| 19 | SCORPIO TANKERS INC | $5.2M | 70000 | 2.04% |
| 20 | HAFNIA LTD | $5.1M | 668464 | 1.98% |
| 21 | SUNOCO LP/SUNOCO FIN CORP | $5.0M | 77400 | 1.96% |
| 22 | TECHNIPFMC PLC | $4.9M | 70700 | 1.91% |
| 23 | PAR PAC HOLDINGS INC | $4.6M | 73200 | 1.79% |
| 24 | PBF ENERGY INC | $4.5M | 94843 | 1.76% |
| 25 | TRANSOCEAN LTD | $3.5M | 533900 | 1.38% |
| 26 | LIBERTY ENERGY INC | $3.2M | 110200 | 1.24% |
| 27 | OCEANEERING INTL INC | $2.9M | 82600 | 1.14% |
| 28 | KINDER MORGAN INC DEL | $2.7M | 82000 | 1.07% |
| 29 | BAKER HUGHES COMPANY | $2.6M | 43200 | 1.03% |
| 30 | EOG RES INC | $2.3M | 15800 | 0.89% |
| 31 | TARGA RES CORP | $2.0M | 8000 | 0.78% |
| 32 | PROSHARES TR II | $742K | 46000 | 0.29% |
| 33 | TERAWULF INC | $505K | 35000 | 0.20% |
| 34 | FORGENT POWER SOLUTIONS INC | $351K | 12000 | 0.14% |
| 35 | SOLARIS ENERGY INFRAS INC | $283K | 5000 | 0.11% |
| 36 | RIOT PLATFORMS INC | $272K | 22000 | 0.11% |
| 37 | MP MATERIALS CORP | $217K | 4500 | 0.08% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.