Encompass Capital Advisors LLC Activity Q4 2012-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
NFE	Sell	NEW FORTRESS ENERGY INC	$124,564,000	+15.3%	3,800,000	-5.8%	7.76%	+22.7%
SHLS	Buy	SHOALS TECHNOLOGIES GROUP INcl a	$80,363,693	-23.4%	4,403,490	+7.2%	5.01%	-18.5%
TDW	Sell	TIDEWATER INC NEW	$79,588,237	-10.7%	1,119,857	-30.3%	4.96%	-4.9%
KOS	Sell	KOSMOS ENERGY LTD	$76,105,346	+21.3%	9,303,832	-11.2%	4.74%	+29.1%
	Buy	NEXTRACKER INC	$65,173,094	+6.6%	1,622,836	+5.7%	4.06%	+13.5%
MRO	Sell	MARATHON OIL CORP	$61,525,000	-0.8%	2,300,000	-14.6%	3.83%	+5.6%
DVN	New	DEVON ENERGY CORP NEW	$57,001,500	–	1,195,000	–	3.55%	–
IMO	Sell	IMPERIAL OIL LTD	$54,226,588	-3.7%	878,800	-20.1%	3.38%	+2.5%
KEX	Buy	KIRBY CORP	$52,490,480	+34.4%	633,943	+24.9%	3.27%	+43.1%
FDX	New	FEDEX CORP	$50,891,132	–	192,100	–	3.17%	–
FREY	Buy	FREYR BATTERY	$49,628,947	-23.6%	10,149,069	+46.0%	3.09%	-18.7%
COP	Sell	CONOCOPHILLIPS	$49,434,152	-40.1%	412,639	-48.2%	3.08%	-36.3%
ARRY	Sell	ARRAY TECHNOLOGIES INC	$48,271,127	-28.1%	2,175,355	-26.8%	3.01%	-23.5%
VALE	Sell	VALE S Asponsored ads	$47,185,487	-12.1%	3,521,305	-12.0%	2.94%	-6.5%
SWN	New	SOUTHWESTERN ENERGY CO	$44,401,800	–	6,884,000	–	2.77%	–
ERF	Sell	ENERPLUS CORP	$44,320,556	-34.4%	2,514,218	-46.0%	2.76%	-30.2%
PDS	Sell	PRECISION DRILLING CORP	$38,499,754	+6.2%	573,541	-22.7%	2.40%	+13.0%
MTZ	Buy	MASTEC INC	$36,638,991	+1.0%	509,087	+65.5%	2.28%	+7.5%
FSLR	New	FIRST SOLAR INC	$36,357,750	–	225,000	–	2.27%	–
SU	Sell	SUNCOR ENERGY INC NEW	$36,174,583	+3.5%	1,050,000	-11.8%	2.25%	+10.1%
BKR	Buy	BAKER HUGHES COMPANYcl a	$35,673,977	+125.7%	1,010,022	+102.0%	2.22%	+140.3%
AR	New	ANTERO RESOURCES CORP	$34,551,571	–	1,361,370	–	2.15%	–
VET	New	VERMILION ENERGY INC	$32,133,621	–	2,192,590	–	2.00%	–
HES	New	HESS CORP	$30,532,221	–	199,557	–	1.90%	–
	Sell	HF SINCLAIR CORP	$29,888,250	-50.3%	525,000	-61.1%	1.86%	-47.1%
ALCC	New	ALTC ACQUISITION CORP	$28,977,930	–	2,799,800	–	1.81%	–
CRK	New	COMSTOCK RES INC	$28,062,272	–	2,544,177	–	1.75%	–
	Sell	ATLAS ENERGY SOLUTIONS INC	$27,207,341	+14.3%	1,223,902	-10.7%	1.70%	+21.7%
RNGR	Sell	RANGER ENERGY SVCS INC	$21,387,538	+34.1%	1,508,289	-3.2%	1.33%	+42.7%
	Sell	KODIAK GAS SVCS INC	$18,992,994	+6.3%	1,062,248	-3.4%	1.18%	+13.2%
HLX	Sell	HELIX ENERGY SOLUTIONS GRP I	$18,642,227	+27.1%	1,668,955	-16.0%	1.16%	+35.3%
	Sell	PROFRAC HLDG CORP	$17,203,064	-48.1%	1,581,164	-46.8%	1.07%	-44.8%
ARCH	New	ARCH RESOURCES INCcl a	$17,066,000	–	100,000	–	1.06%	–
BE	Sell	BLOOM ENERGY CORP	$15,052,381	-54.0%	1,135,172	-43.2%	0.94%	-51.0%
	New	ALTUS POWER INC	$14,700,000	–	2,800,000	–	0.92%	–
PCT	Buy	PURECYCLE TECHNOLOGIES INC	$14,080,578	+307.2%	2,509,907	+675.9%	0.88%	+334.2%
NETI	Sell	ENETI INC	$12,853,472	-28.3%	1,275,146	-13.9%	0.80%	-23.6%
HBM	New	HUDBAY MINERALS INC	$12,139,115	–	2,489,896	–	0.76%	–
	New	SITIO ROYALTIES CORP	$8,247,137	–	340,650	–	0.51%	–
AMTX	Sell	AEMETIS INC	$7,258,151	-45.2%	1,748,952	-3.2%	0.45%	-41.8%
SBLK	New	STAR BULK CARRIERS CORP.	$6,390,375	–	331,451	–	0.40%	–
VNOM	New	VIPER ENERGY PARTNERS LP	$6,351,231	–	227,806	–	0.40%	–
UEC	New	URANIUM ENERGY CORP	$5,284,461	–	1,026,109	–	0.33%	–
FREYWS	Sell	FREYR BATTERY*w exp 09/01/202	$3,455,643	-84.5%	3,455,643	-54.3%	0.22%	-83.6%
GOGL	Sell	GOLDEN OCEAN GROUP LTD	$3,328,055	-28.1%	422,342	-31.1%	0.21%	-23.6%
	Exit	RAMACO RES INC	$0	–	-102,620	–	-0.06%	–
NEX	Exit	NEXTIER OILFIELD SOLUTIONS	$0	–	-277,942	–	-0.14%	–
	Exit	EXPRO GROUP HOLDINGS NV	$0	–	-224,446	–	-0.23%	–
	Exit	RAMACO RES INC	$0	–	-513,123	–	-0.25%	–
PARR	Exit	PAR PAC HOLDINGS INC	$0	–	-179,782	–	-0.28%	–
TRMD	Exit	TORM PLC	$0	–	-212,998	–	-0.30%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-200,000	–	-0.47%	–
GPRE	Exit	GREEN PLAINS INC	$0	–	-433,221	–	-0.82%	–
	Exit	DIAMOND OFFSHORE DRILLING IN	$0	–	-1,080,300	–	-0.90%	–
VLO	Exit	VALERO ENERGY CORP	$0	–	-150,000	–	-1.03%	–
HP	Exit	HELMERICH & PAYNE INC	$0	–	-694,829	–	-1.44%	–
ETRN	Exit	EQUITRANS MIDSTREAM CORP	$0	–	-2,586,138	–	-1.45%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-119,822	–	-1.45%	–
MUSA	Exit	MURPHY USA INC	$0	–	-85,649	–	-1.56%	–
NFE	Exit	NEW FORTRESS ENERGY INCcall	$0	–	-1,000,000	–	-1.57%	–
CSX	Exit	CSX CORP	$0	–	-1,138,523	–	-2.27%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-698,966	–	-2.30%	–
CLF	Exit	CLEVELAND-CLIFFS INC NEW	$0	–	-2,937,511	–	-2.88%	–
UNP	Exit	UNION PAC CORP	$0	–	-261,463	–	-3.13%	–

Q2 2023

			Value		Shares		↓ Weighting
NFE	New	NEW FORTRESS ENERGY INC	$108,059,442	–	4,035,080	–	6.33%	–
SHLS	New	SHOALS TECHNOLOGIES GROUP INcl a	$104,946,523	–	4,105,889	–	6.14%	–
TDW	New	TIDEWATER INC NEW	$89,089,142	–	1,606,947	–	5.22%	–
COP	New	CONOCOPHILLIPS	$82,532,618	–	796,570	–	4.83%	–
ERF	New	ENERPLUS CORP	$67,573,703	–	4,659,418	–	3.96%	–
ARRY	New	ARRAY TECHNOLOGIES INC	$67,122,000	–	2,970,000	–	3.93%	–
FREY	New	FREYR BATTERY	$64,994,983	–	6,951,335	–	3.80%	–
KOS	New	KOSMOS ENERGY LTD	$62,734,827	–	10,473,260	–	3.67%	–
MRO	New	MARATHON OIL CORP	$62,000,157	–	2,693,317	–	3.63%	–
	New	NEXTRACKER INC	$61,127,339	–	1,535,477	–	3.58%	–
	New	HF SINCLAIR CORP	$60,141,195	–	1,348,155	–	3.52%	–
IMO	New	IMPERIAL OIL LTD	$56,316,738	–	1,099,996	–	3.30%	–
VALE	New	VALE S Asponsored ads	$53,680,000	–	4,000,000	–	3.14%	–
UNP	New	UNION PAC CORP	$53,500,559	–	261,463	–	3.13%	–
CLF	New	CLEVELAND-CLIFFS INC NEW	$49,232,684	–	2,937,511	–	2.88%	–
CNQ	New	CANADIAN NAT RES LTD	$39,322,447	–	698,966	–	2.30%	–
KEX	New	KIRBY CORP	$39,054,126	–	507,526	–	2.29%	–
CSX	New	CSX CORP	$38,823,634	–	1,138,523	–	2.27%	–
MTZ	New	MASTEC INC	$36,277,309	–	307,513	–	2.12%	–
PDS	New	PRECISION DRILLING CORP	$36,259,212	–	742,285	–	2.12%	–
SU	New	SUNCOR ENERGY INC NEW	$34,962,875	–	1,191,131	–	2.05%	–
	New	PROFRAC HLDG CORP	$33,167,397	–	2,971,989	–	1.94%	–
BE	New	BLOOM ENERGY CORP	$32,700,000	–	2,000,000	–	1.91%	–
NFE	New	NEW FORTRESS ENERGY INCcall	$26,780,000	–	1,000,000	–	1.57%	–
MUSA	New	MURPHY USA INC	$26,646,260	–	85,649	–	1.56%	–
PXD	New	PIONEER NAT RES CO	$24,824,722	–	119,822	–	1.45%	–
ETRN	New	EQUITRANS MIDSTREAM CORP	$24,723,479	–	2,586,138	–	1.45%	–
HP	New	HELMERICH & PAYNE INC	$24,631,688	–	694,829	–	1.44%	–
	New	ATLAS ENERGY SOLUTIONS INC	$23,799,779	–	1,370,955	–	1.39%	–
FREYWS	New	FREYR BATTERY*w exp 09/01/202	$22,364,703	–	7,555,643	–	1.31%	–
	New	OPAL FUELS INC	$20,404,462	–	2,741,370	–	1.20%	–
NETI	New	ENETI INC	$17,924,617	–	1,480,150	–	1.05%	–
	New	KODIAK GAS SVCS INC	$17,864,000	–	1,100,000	–	1.05%	–
VLO	New	VALERO ENERGY CORP	$17,595,000	–	150,000	–	1.03%	–
RNGR	New	RANGER ENERGY SVCS INC	$15,953,183	–	1,557,928	–	0.93%	–
BKR	New	BAKER HUGHES COMPANYcl a	$15,805,000	–	500,000	–	0.92%	–
	New	DIAMOND OFFSHORE DRILLING IN	$15,383,472	–	1,080,300	–	0.90%	–
HLX	New	HELIX ENERGY SOLUTIONS GRP I	$14,665,211	–	1,987,156	–	0.86%	–
GPRE	New	GREEN PLAINS INC	$13,967,045	–	433,221	–	0.82%	–
AMTX	New	AEMETIS INC	$13,249,290	–	1,807,543	–	0.78%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$8,000,000	–	200,000	–	0.47%	–
TRMD	New	TORM PLC	$5,146,032	–	212,998	–	0.30%	–
PARR	New	PAR PAC HOLDINGS INC	$4,783,999	–	179,782	–	0.28%	–
GOGL	New	GOLDEN OCEAN GROUP LTD	$4,627,508	–	612,915	–	0.27%	–
	New	RAMACO RES INC	$4,330,758	–	513,123	–	0.25%	–
	New	EXPRO GROUP HOLDINGS NV	$3,977,183	–	224,446	–	0.23%	–
PCT	New	PURECYCLE TECHNOLOGIES INC	$3,458,247	–	323,503	–	0.20%	–
NEX	New	NEXTIER OILFIELD SOLUTIONS	$2,484,801	–	277,942	–	0.14%	–
	New	RAMACO RES INC	$1,088,798	–	102,620	–	0.06%	–

Q4 2022

			Value		Shares		↓ Weighting
MAXN	Exit	MAXEON SOLAR TECHNOLOGIES LT	$0	–	-19,612	–	-0.02%	–
	Exit	PROFRAC HLDG CORP	$0	–	-91,220	–	-0.07%	–
PCTTW	Exit	PURECYCLE TECHNOLOGIES INC*w exp 03/17/202	$0	–	-714,285	–	-0.12%	–
	Exit	OPAL FUELS INC*w exp 07/21/202	$0	–	-1,985,236	–	-0.14%	–
METC	Exit	RAMACO RES INC	$0	–	-508,924	–	-0.24%	–
NBR	Exit	NABORS INDUSTRIES LTD	$0	–	-50,243	–	-0.26%	–
NETI	Exit	ENETI INC	$0	–	-888,444	–	-0.30%	–
DAR	Exit	DARLING INGREDIENTS INC	$0	–	-100,000	–	-0.33%	–
	Exit	BORR DRILLING LTD	$0	–	-2,506,183	–	-0.42%	–
WTTR	Exit	SELECT ENERGY SVCS INC	$0	–	-1,196,505	–	-0.42%	–
GOGL	Exit	GOLDEN OCEAN GROUP LTD	$0	–	-1,150,000	–	-0.43%	–
SBLK	Exit	STAR BULK CARRIERS CORP.	$0	–	-500,000	–	-0.44%	–
NUE	Exit	NUCOR CORP	$0	–	-92,098	–	-0.50%	–
	Exit	OPAL FUELS INC	$0	–	-1,308,429	–	-0.55%	–
AMTX	Exit	AEMETIS INC	$0	–	-1,790,307	–	-0.55%	–
	Exit	HF SINCLAIR CORP	$0	–	-228,797	–	-0.62%	–
PCT	Exit	PURECYCLE TECHNOLOGIES INC	$0	–	-1,654,979	–	-0.67%	–
	Exit	ARIS WATER SOLUTIONS INC	$0	–	-1,091,720	–	-0.70%	–
SOI	Exit	SOLARIS OILFIELD INFRASTRUCT	$0	–	-1,490,867	–	-0.70%	–
HAL	Exit	HALLIBURTON CO	$0	–	-600,000	–	-0.74%	–
RNGR	Exit	RANGER ENERGY SVCS INC	$0	–	-1,574,988	–	-0.78%	–
DK	Exit	DELEK US HLDGS INC NEW	$0	–	-660,470	–	-0.90%	–
TS	Exit	TENARIS S Asponsored ads	$0	–	-698,681	–	-0.91%	–
PSX	Exit	PHILLIPS 66	$0	–	-226,460	–	-0.92%	–
CEIX	Exit	CONSOL ENERGY INC NEW	$0	–	-300,000	–	-0.97%	–
KEX	Exit	KIRBY CORP	$0	–	-317,473	–	-0.97%	–
BTU	Exit	PEABODY ENERGY CORP	$0	–	-820,334	–	-1.03%	–
SBSW	Exit	SIBANYE STILLWATER LTDsponsored adr	$0	–	-2,213,330	–	-1.04%	–
ASPN	Exit	ASPEN AEROGELS INC	$0	–	-2,419,272	–	-1.12%	–
VET	Exit	VERMILION ENERGY INC	$0	–	-1,100,000	–	-1.19%	–
	Exit	ALTUS POWER INC	$0	–	-2,216,144	–	-1.23%	–
NESR	Exit	NATIONAL ENERGY SERVICES REU	$0	–	-4,135,297	–	-1.24%	–
NOV	Exit	NOV INC	$0	–	-1,585,025	–	-1.29%	–
SM	Exit	SM ENERGY CO	$0	–	-706,066	–	-1.34%	–
NEP	Exit	NEXTERA ENERGY PARTNERS LP	$0	–	-375,000	–	-1.37%	–
PLUG	Exit	PLUG POWER INC	$0	–	-1,358,415	–	-1.44%	–
LPI	Exit	LAREDO PETROLEUM INC	$0	–	-476,487	–	-1.51%	–
TDW	Exit	TIDEWATER INC NEW	$0	–	-1,385,666	–	-1.52%	–
PDS	Exit	PRECISION DRILLING CORP	$0	–	-603,636	–	-1.54%	–
STEM	Exit	STEM INC	$0	–	-2,500,000	–	-1.68%	–
SHLS	Exit	SHOALS TECHNOLOGIES GROUP INcl a	$0	–	-1,788,040	–	-1.94%	–
FREYWS	Exit	FREYR BATTERY*w exp 10/31/202	$0	–	-7,209,399	–	-2.03%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-1,186,899	–	-2.10%	–
ARRY	Exit	ARRAY TECHNOLOGIES INC	$0	–	-2,570,467	–	-2.15%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-791,800	–	-2.20%	–
FSLR	Exit	FIRST SOLAR INC	$0	–	-330,877	–	-2.21%	–
UNP	Exit	UNION PAC CORP	$0	–	-256,704	–	-2.52%	–
	Exit	ENOVIX CORPORATION	$0	–	-2,728,746	–	-2.52%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-1,845,508	–	-2.62%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-950,715	–	-2.77%	–
OVV	Exit	OVINTIV INC	$0	–	-1,391,756	–	-3.23%	–
FREY	Exit	FREYR BATTERY	$0	–	-4,730,050	–	-3.40%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-4,653,642	–	-3.60%	–
ERF	Exit	ENERPLUS CORP	$0	–	-5,108,144	–	-3.64%	–
NFE	Exit	NEW FORTRESS ENERGY INC	$0	–	-1,679,699	–	-3.70%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-9,175,529	–	-3.91%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-4,458,013	–	-5.07%	–
CRC	Exit	CALIFORNIA RES CORP	$0	–	-2,636,246	–	-5.11%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-970,000	–	-13.06%	–

Q3 2022

			Value		Shares		↓ Weighting
QQQ	New	INVESCO QQQ TRput	$259,242,000	–	970,000	–	13.06%	–
CRC	Sell	CALIFORNIA RES CORP	$101,311,000	-2.5%	2,636,246	-2.3%	5.11%	-27.0%
MRO	Buy	MARATHON OIL CORP	$100,662,000	+18.0%	4,458,013	+17.5%	5.07%	-11.7%
FTI	Buy	TECHNIPFMC PLC	$77,625,000	+284.5%	9,175,529	+205.9%	3.91%	+187.6%
NFE	Sell	NEW FORTRESS ENERGY INC	$73,420,000	-13.6%	1,679,699	-21.8%	3.70%	-35.4%
ERF	Buy	ENERPLUS CORP	$72,332,000	+72.0%	5,108,144	+60.5%	3.64%	+28.6%
CVE	Buy	CENOVUS ENERGY INC	$71,488,000	+88.0%	4,653,642	+132.9%	3.60%	+40.6%
OVV	Sell	OVINTIV INC	$64,021,000	-20.9%	1,391,756	-24.0%	3.23%	-40.8%
PDCE	Buy	PDC ENERGY INC	$54,942,000	+62.9%	950,715	+73.6%	2.77%	+21.8%
SU	Buy	SUNCOR ENERGY INC NEW	$51,971,000	+27.7%	1,845,508	+59.1%	2.62%	-4.5%
	Sell	ENOVIX CORPORATION	$50,032,000	+99.1%	2,728,746	-3.2%	2.52%	+48.9%
UNP	New	UNION PAC CORP	$50,011,000	–	256,704	–	2.52%	–
FSLR	New	FIRST SOLAR INC	$43,765,000	–	330,877	–	2.21%	–
RIO	New	RIO TINTO PLCsponsored adr	$43,597,000	–	791,800	–	2.20%	–
ARRY	Buy	ARRAY TECHNOLOGIES INC	$42,618,000	+134.6%	2,570,467	+55.8%	2.15%	+75.5%
MUR	Buy	MURPHY OIL CORP	$41,743,000	+33.8%	1,186,899	+14.9%	2.10%	+0.1%
SHLS	Sell	SHOALS TECHNOLOGIES GROUP INcl a	$38,532,000	-26.2%	1,788,040	-43.6%	1.94%	-44.8%
STEM	New	STEM INC	$33,350,000	–	2,500,000	–	1.68%	–
PDS	Buy	PRECISION DRILLING CORP	$30,559,000	-21.0%	603,636	+0.3%	1.54%	-40.9%
TDW	New	TIDEWATER INC NEW	$30,069,000	–	1,385,666	–	1.52%	–
LPI	Buy	LAREDO PETROLEUM INC	$29,947,000	+24.1%	476,487	+36.2%	1.51%	-7.2%
PLUG	Buy	PLUG POWER INC	$28,540,000	+56.6%	1,358,415	+23.5%	1.44%	+17.1%
NEP	New	NEXTERA ENERGY PARTNERS LP	$27,116,000	–	375,000	–	1.37%	–
SM	Buy	SM ENERGY CO	$26,555,000	+92.1%	706,066	+74.6%	1.34%	+43.6%
NOV	Sell	NOV INC	$25,646,000	-4.8%	1,585,025	-0.6%	1.29%	-28.9%
NESR	Buy	NATIONAL ENERGY SERVICES REU	$24,564,000	+2.1%	4,135,297	+16.6%	1.24%	-23.6%
	Buy	ALTUS POWER INC	$24,400,000	+148.1%	2,216,144	+42.2%	1.23%	+85.5%
VET	New	VERMILION ENERGY INC	$23,547,000	–	1,100,000	–	1.19%	–
ASPN	Sell	ASPEN AEROGELS INC	$22,306,000	-17.2%	2,419,272	-11.2%	1.12%	-38.0%
SBSW	New	SIBANYE STILLWATER LTDsponsored adr	$20,628,000	–	2,213,330	–	1.04%	–
BTU	New	PEABODY ENERGY CORP	$20,361,000	–	820,334	–	1.03%	–
CEIX	Sell	CONSOL ENERGY INC NEW	$19,296,000	-51.6%	300,000	-62.9%	0.97%	-63.8%
KEX	Sell	KIRBY CORP	$19,293,000	-8.0%	317,473	-7.9%	0.97%	-31.3%
PSX	New	PHILLIPS 66	$18,280,000	–	226,460	–	0.92%	–
TS	Buy	TENARIS S Asponsored ads	$18,054,000	+0.9%	698,681	+0.3%	0.91%	-24.5%
DK	Buy	DELEK US HLDGS INC NEW	$17,925,000	+170.6%	660,470	+157.6%	0.90%	+102.5%
RNGR	Buy	RANGER ENERGY SVCS INC	$15,404,000	-2.9%	1,574,988	+0.7%	0.78%	-27.4%
HAL	Buy	HALLIBURTON CO	$14,772,000	+17.8%	600,000	+50.0%	0.74%	-12.0%
SOI	Sell	SOLARIS OILFIELD INFRASTRUCT	$13,955,000	-18.3%	1,490,867	-5.0%	0.70%	-38.9%
	Sell	ARIS WATER SOLUTIONS INC	$13,930,000	-52.9%	1,091,720	-38.4%	0.70%	-64.8%
PCT	Sell	PURECYCLE TECHNOLOGIES INC	$13,356,000	-57.1%	1,654,979	-60.6%	0.67%	-67.9%
	Sell	HF SINCLAIR CORP	$12,318,000	-66.1%	228,797	-71.6%	0.62%	-74.6%
AMTX	Sell	AEMETIS INC	$10,957,000	+17.6%	1,790,307	-5.7%	0.55%	-12.1%
	New	OPAL FUELS INC	$10,834,000	–	1,308,429	–	0.55%	–
NUE	New	NUCOR CORP	$9,854,000	–	92,098	–	0.50%	–
SBLK	New	STAR BULK CARRIERS CORP.	$8,740,000	–	500,000	–	0.44%	–
GOGL	New	GOLDEN OCEAN GROUP LTD	$8,591,000	–	1,150,000	–	0.43%	–
WTTR	Sell	SELECT ENERGY SVCS INC	$8,340,000	-27.7%	1,196,505	-29.3%	0.42%	-45.9%
	New	BORR DRILLING LTD	$8,321,000	–	2,506,183	–	0.42%	–
DAR	New	DARLING INGREDIENTS INC	$6,615,000	–	100,000	–	0.33%	–
NETI	Buy	ENETI INC	$5,926,000	+12.5%	888,444	+3.6%	0.30%	-15.8%
NBR	Sell	NABORS INDUSTRIES LTD	$5,097,000	-76.9%	50,243	-69.5%	0.26%	-82.7%
METC	New	RAMACO RES INC	$4,682,000	–	508,924	–	0.24%	–
	New	OPAL FUELS INC*w exp 07/21/202	$2,879,000	–	1,985,236	–	0.14%	–
	Sell	PROFRAC HLDG CORP	$1,387,000	-90.5%	91,220	-88.6%	0.07%	-92.9%
MAXN	New	MAXEON SOLAR TECHNOLOGIES LT	$466,000	–	19,612	–	0.02%	–
	Exit	EXCELERATE ENERGY INC	$0	–	-301,887	–	-0.40%	–
PVAC	Exit	RANGER OIL CORPORATION	$0	–	-189,097	–	-0.42%	–
SCLE	Exit	BROADSCALE ACQUISITION CORP	$0	–	-852,700	–	-0.56%	–
AA	Exit	ALCOA CORP	$0	–	-200,000	–	-0.61%	–
WHD	Exit	CACTUS INCcl a	$0	–	-254,575	–	-0.69%	–
PTEN	Exit	PATTERSON-UTI ENERGY INC	$0	–	-690,545	–	-0.73%	–
STNG	Exit	SCORPIO TANKERS INC	$0	–	-362,003	–	-0.84%	–
PARR	Exit	PAR PAC HOLDINGS INC	$0	–	-849,672	–	-0.89%	–
VLO	Exit	VALERO ENERGY CORP	$0	–	-175,000	–	-1.25%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-225,000	–	-1.71%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-425,000	–	-2.00%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-418,899	–	-2.19%	–
CLR	Exit	CONTINENTAL RES INC	$0	–	-499,741	–	-2.20%	–
AR	Exit	ANTERO RESOURCES CORP	$0	–	-1,806,583	–	-3.73%	–

Q2 2022

			Value		Shares		↓ Weighting
CRC	New	CALIFORNIA RES CORP	$103,867,000	–	2,697,845	–	7.00%	–
MRO	New	MARATHON OIL CORP	$85,290,000	–	3,794,020	–	5.75%	–
NFE	New	NEW FORTRESS ENERGY INC	$84,993,000	–	2,147,907	–	5.73%	–
OVV	New	OVINTIV INC	$80,909,000	–	1,830,924	–	5.45%	–
AR	New	ANTERO RESOURCES CORP	$55,372,000	–	1,806,583	–	3.73%	–
SHLS	New	SHOALS TECHNOLOGIES GROUP INcl a	$52,245,000	–	3,170,197	–	3.52%	–
FREYWS	New	FREYR BATTERY*w exp 10/31/202	$49,312,000	–	7,209,399	–	3.32%	–
ERF	New	ENERPLUS CORP	$42,057,000	–	3,182,236	–	2.83%	–
SU	New	SUNCOR ENERGY INC NEW	$40,702,000	–	1,160,000	–	2.74%	–
CEIX	New	CONSOL ENERGY INC NEW	$39,887,000	–	807,748	–	2.69%	–
PDS	New	PRECISION DRILLING CORP	$38,684,000	–	601,956	–	2.61%	–
CVE	New	CENOVUS ENERGY INC	$38,019,000	–	1,998,029	–	2.56%	–
	New	HF SINCLAIR CORP	$36,329,000	–	804,454	–	2.45%	–
PDCE	New	PDC ENERGY INC	$33,733,000	–	547,521	–	2.27%	–
CLR	New	CONTINENTAL RES INC	$32,658,000	–	499,741	–	2.20%	–
NEE	New	NEXTERA ENERGY INC	$32,448,000	–	418,899	–	2.19%	–
FREY	New	FREYR BATTERY	$32,354,000	–	4,730,050	–	2.18%	–
MUR	New	MURPHY OIL CORP	$31,190,000	–	1,033,107	–	2.10%	–
PCT	New	PURECYCLE TECHNOLOGIES INC	$31,137,000	–	4,196,298	–	2.10%	–
CP	New	CANADIAN PAC RY LTD	$29,689,000	–	425,000	–	2.00%	–
	New	ARIS WATER SOLUTIONS INC	$29,569,000	–	1,772,702	–	1.99%	–
NOV	New	NOV INC	$26,951,000	–	1,593,797	–	1.82%	–
ASPN	New	ASPEN AEROGELS INC	$26,929,000	–	2,725,571	–	1.81%	–
CNI	New	CANADIAN NATL RY CO	$25,312,000	–	225,000	–	1.71%	–
	New	ENOVIX CORPORATION	$25,124,000	–	2,819,699	–	1.69%	–
LPI	New	LAREDO PETROLEUM INC	$24,125,000	–	349,947	–	1.63%	–
NESR	New	NATIONAL ENERGY SERVICES REU	$24,050,000	–	3,547,155	–	1.62%	–
NBR	New	NABORS INDUSTRIES LTD	$22,094,000	–	165,000	–	1.49%	–
KEX	New	KIRBY CORP	$20,978,000	–	344,803	–	1.41%	–
FTI	New	TECHNIPFMC PLC	$20,190,000	–	3,000,000	–	1.36%	–
VLO	New	VALERO ENERGY CORP	$18,599,000	–	175,000	–	1.25%	–
PLUG	New	PLUG POWER INC	$18,227,000	–	1,100,000	–	1.23%	–
ARRY	New	ARRAY TECHNOLOGIES INC	$18,167,000	–	1,650,000	–	1.22%	–
TS	New	TENARIS S Asponsored ads	$17,899,000	–	696,737	–	1.21%	–
SOI	New	SOLARIS OILFIELD INFRASTRUCT	$17,081,000	–	1,569,932	–	1.15%	–
RNGR	New	RANGER ENERGY SVCS INC	$15,860,000	–	1,564,120	–	1.07%	–
	New	PROFRAC HLDG CORP	$14,648,000	–	800,000	–	0.99%	–
SM	New	SM ENERGY CO	$13,827,000	–	404,409	–	0.93%	–
PARR	New	PAR PAC HOLDINGS INC	$13,246,000	–	849,672	–	0.89%	–
HAL	New	HALLIBURTON CO	$12,544,000	–	400,000	–	0.84%	–
STNG	New	SCORPIO TANKERS INC	$12,493,000	–	362,003	–	0.84%	–
WTTR	New	SELECT ENERGY SVCS INC	$11,538,000	–	1,691,782	–	0.78%	–
PTEN	New	PATTERSON-UTI ENERGY INC	$10,883,000	–	690,545	–	0.73%	–
WHD	New	CACTUS INCcl a	$10,252,000	–	254,575	–	0.69%	–
	New	ALTUS POWER INC	$9,834,000	–	1,558,479	–	0.66%	–
AMTX	New	AEMETIS INC	$9,317,000	–	1,897,570	–	0.63%	–
AA	New	ALCOA CORP	$9,116,000	–	200,000	–	0.61%	–
SCLE	New	BROADSCALE ACQUISITION CORP	$8,374,000	–	852,700	–	0.56%	–
DK	New	DELEK US HLDGS INC NEW	$6,624,000	–	256,357	–	0.45%	–
PVAC	New	RANGER OIL CORPORATION	$6,216,000	–	189,097	–	0.42%	–
	New	EXCELERATE ENERGY INC	$6,014,000	–	301,887	–	0.40%	–
NETI	New	ENETI INC	$5,267,000	–	857,842	–	0.36%	–
PCTTW	New	PURECYCLE TECHNOLOGIES INC*w exp 03/17/202	$1,893,000	–	714,285	–	0.13%	–

Q4 2021

			Value		Shares		↓ Weighting
AMR	Exit	ALPHA METALLURGICAL RESOUR I	$0	–	-19,333	–	-0.06%	–
	Exit	HYZON MOTORS INC	$0	–	-200,000	–	-0.08%	–
METC	Exit	RAMACO RES INC	$0	–	-194,864	–	-0.15%	–
DCRNW	Exit	DECARBONIZATION PLUS ACQU II*w exp 01/19/202	$0	–	-451,156	–	-0.27%	–
VIST	Exit	VISTA OIL & GAS SAB DE CVsponsored ads	$0	–	-967,026	–	-0.30%	–
THR	Exit	THERMON GROUP HLDGS INC	$0	–	-319,889	–	-0.34%	–
DHT	Exit	DHT HOLDINGS INC	$0	–	-1,030,658	–	-0.41%	–
AA	Exit	ALCOA CORP	$0	–	-150,000	–	-0.45%	–
EURN	Exit	EURONAV NV	$0	–	-761,114	–	-0.46%	–
WTTR	Exit	SELECT ENERGY SVCS INC	$0	–	-1,635,336	–	-0.52%	–
PBF	Exit	PBF ENERGY INCcl a	$0	–	-672,200	–	-0.53%	–
CVI	Exit	CVR ENERGY INC	$0	–	-523,700	–	-0.53%	–
DNMR	Exit	DANIMER SCIENTIFIC INC	$0	–	-552,942	–	-0.55%	–
	Exit	ARCHAEA ENERGY INC	$0	–	-523,336	–	-0.61%	–
NOVA	Exit	SUNNOVA ENERGY INTL INC.	$0	–	-343,664	–	-0.69%	–
GTLS	Exit	CHART INDS INC	$0	–	-62,793	–	-0.74%	–
SOI	Exit	SOLARIS OILFIELD INFRASTRUCT	$0	–	-1,649,933	–	-0.84%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-1,000,000	–	-0.84%	–
NBR	Exit	NABORS INDUSTRIES LTD	$0	–	-145,907	–	-0.86%	–
CEIX	Exit	CONSOL ENERGY INC NEW	$0	–	-568,581	–	-0.91%	–
LOKB	Exit	LIVE OAK ACQUISITION CORP II	$0	–	-1,529,049	–	-0.93%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-1,185,188	–	-0.99%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-500,000	–	-1.00%	–
TECK	Exit	TECK RESOURCES LTDcl b	$0	–	-684,069	–	-1.04%	–
DCRN	Exit	DECARBONIZATION PLUS ACQU II	$0	–	-1,732,460	–	-1.05%	–
CRK	Exit	COMSTOCK RES INC	$0	–	-1,909,000	–	-1.21%	–
GPRK	Exit	GEOPARK LTD	$0	–	-1,554,781	–	-1.22%	–
PCT	Exit	PURECYCLE TECHNOLOGIES INC	$0	–	-1,590,681	–	-1.29%	–
PDS	Exit	PRECISION DRILLING CORP	$0	–	-532,418	–	-1.32%	–
ARCH	Exit	ARCH RESOURCES INCcl a	$0	–	-249,153	–	-1.42%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-740,000	–	-1.50%	–
GPRE	Exit	GREEN PLAINS INC	$0	–	-753,819	–	-1.51%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-150,000	–	-1.53%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-63,526	–	-1.59%	–
SHLS	Exit	SHOALS TECHNOLOGIES GROUP INcl a	$0	–	-986,914	–	-1.68%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-610,610	–	-2.18%	–
ERF	Exit	ENERPLUS CORP	$0	–	-4,600,000	–	-2.26%	–
AMTX	Exit	AEMETIS INC	$0	–	-2,064,615	–	-2.31%	–
WHD	Exit	CACTUS INCcl a	$0	–	-1,026,276	–	-2.37%	–
NESR	Exit	NATIONAL ENERGY SERVICES REU	$0	–	-3,125,432	–	-2.40%	–
DEN	Exit	DENBURY INC	$0	–	-569,266	–	-2.45%	–
OVV	Exit	OVINTIV INC	$0	–	-1,255,616	–	-2.53%	–
BKR	Exit	BAKER HUGHES COMPANYcl a	$0	–	-1,709,440	–	-2.59%	–
FREY	Exit	FREYR BATTERY	$0	–	-4,620,050	–	-2.79%	–
AR	Exit	ANTERO RESOURCES CORP	$0	–	-3,587,062	–	-4.13%	–
FREYWS	Exit	FREYR BATTERY*w exp 10/31/202	$0	–	-7,189,449	–	-4.34%	–
CRC	Exit	CALIFORNIA RES CORP	$0	–	-2,304,397	–	-5.78%	–
IWM	Exit	ISHARES TRput	$0	–	-1,100,000	–	-14.73%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-900,000	–	-19.72%	–

Q3 2021

			Value		Shares		↓ Weighting
QQQ	New	INVESCO QQQ TRput	$322,164,000	–	900,000	–	19.72%	–
IWM	Sell	ISHARES TRput	$240,625,000	-30.1%	1,100,000	-26.7%	14.73%	-38.6%
CRC	Sell	CALIFORNIA RES CORP	$94,480,000	+30.0%	2,304,397	-4.5%	5.78%	+14.2%
FREYWS	New	FREYR BATTERY*w exp 10/31/202	$70,960,000	–	7,189,449	–	4.34%	–
AR	New	ANTERO RESOURCES CORP	$67,473,000	–	3,587,062	–	4.13%	–
FREY	New	FREYR BATTERY	$45,600,000	–	4,620,050	–	2.79%	–
BKR	New	BAKER HUGHES COMPANYcl a	$42,274,000	–	1,709,440	–	2.59%	–
OVV	Buy	OVINTIV INC	$41,285,000	+27.8%	1,255,616	+22.4%	2.53%	+12.3%
DEN	Sell	DENBURY INC	$39,991,000	-19.0%	569,266	-11.5%	2.45%	-28.9%
NESR	Sell	NATIONAL ENERGY SERVICES REU	$39,130,000	-18.7%	3,125,432	-7.5%	2.40%	-28.6%
WHD	Sell	CACTUS INCcl a	$38,711,000	-7.1%	1,026,276	-9.5%	2.37%	-18.4%
AMTX	Buy	AEMETIS INC	$37,741,000	+81.8%	2,064,615	+11.1%	2.31%	+59.6%
ERF	Sell	ENERPLUS CORP	$36,849,000	-43.7%	4,600,000	-49.5%	2.26%	-50.5%
WLL	Sell	WHITING PETE CORP NEW	$35,666,000	-21.1%	610,610	-26.3%	2.18%	-30.7%
SHLS	Buy	SHOALS TECHNOLOGIES GROUP INcl a	$27,515,000	-18.1%	986,914	+4.3%	1.68%	-28.1%
GNRC	New	GENERAC HLDGS INC	$25,961,000	–	63,526	–	1.59%	–
PXD	New	PIONEER NAT RES CO	$24,977,000	–	150,000	–	1.53%	–
GPRE	Buy	GREEN PLAINS INC	$24,612,000	+13.3%	753,819	+16.7%	1.51%	-0.4%
HFC	New	HOLLYFRONTIER CORP	$24,516,000	–	740,000	–	1.50%	–
ARCH	Sell	ARCH RESOURCES INCcl a	$23,109,000	+0.1%	249,153	-38.5%	1.42%	-12.1%
PDS	Buy	PRECISION DRILLING CORP	$21,536,000	+24.4%	532,418	+28.2%	1.32%	+9.3%
PCT	Buy	PURECYCLE TECHNOLOGIES INC	$21,124,000	-25.1%	1,590,681	+33.4%	1.29%	-34.2%
GPRK	Sell	GEOPARK LTD	$19,839,000	-3.7%	1,554,781	-4.5%	1.22%	-15.3%
CRK	Sell	COMSTOCK RES INC	$19,758,000	-22.0%	1,909,000	-49.7%	1.21%	-31.4%
DCRN	Sell	DECARBONIZATION PLUS ACQU II	$17,134,000	-4.5%	1,732,460	-4.7%	1.05%	-16.1%
TECK	Buy	TECK RESOURCES LTDcl b	$17,040,000	+12.6%	684,069	+4.0%	1.04%	-1.1%
FCX	New	FREEPORT-MCMORAN INCcl b	$16,265,000	–	500,000	–	1.00%	–
MRO	Sell	MARATHON OIL CORP	$16,202,000	-36.6%	1,185,188	-36.9%	0.99%	-44.3%
LOKB	New	LIVE OAK ACQUISITION CORP II	$15,260,000	–	1,529,049	–	0.93%	–
CEIX	New	CONSOL ENERGY INC NEW	$14,794,000	–	568,581	–	0.91%	–
NBR	Buy	NABORS INDUSTRIES LTD	$14,077,000	+76.0%	145,907	+108.4%	0.86%	+54.8%
TALO	Sell	TALOS ENERGY INC	$13,770,000	-54.7%	1,000,000	-48.5%	0.84%	-60.2%
SOI	Buy	SOLARIS OILFIELD INFRASTRUCT	$13,760,000	+8.1%	1,649,933	+26.3%	0.84%	-5.1%
GTLS	New	CHART INDS INC	$12,000,000	–	62,793	–	0.74%	–
NOVA	Sell	SUNNOVA ENERGY INTL INC.	$11,320,000	-61.2%	343,664	-55.6%	0.69%	-65.9%
	New	ARCHAEA ENERGY INC	$9,912,000	–	523,336	–	0.61%	–
DNMR	Buy	DANIMER SCIENTIFIC INC	$9,035,000	-33.8%	552,942	+1.5%	0.55%	-41.9%
PBF	New	PBF ENERGY INCcl a	$8,718,000	–	672,200	–	0.53%	–
CVI	Buy	CVR ENERGY INC	$8,725,000	+142.9%	523,700	+161.8%	0.53%	+113.6%
WTTR	Buy	SELECT ENERGY SVCS INC	$8,487,000	+921.3%	1,635,336	+1088.2%	0.52%	+796.6%
EURN	Sell	EURONAV NV	$7,428,000	+0.0%	761,114	-4.5%	0.46%	-12.2%
AA	Sell	ALCOA CORP	$7,341,000	-23.4%	150,000	-42.3%	0.45%	-32.8%
DHT	Sell	DHT HOLDINGS INC	$6,730,000	-3.9%	1,030,658	-4.5%	0.41%	-15.6%
THR	Sell	THERMON GROUP HLDGS INC	$5,537,000	-3.0%	319,889	-4.5%	0.34%	-14.8%
VIST	Sell	VISTA OIL & GAS SAB DE CVsponsored ads	$4,864,000	-31.8%	967,026	-44.4%	0.30%	-40.0%
DCRNW	Sell	DECARBONIZATION PLUS ACQU II*w exp 01/19/202	$4,453,000	+544.4%	451,156	-4.7%	0.27%	+468.8%
METC	New	RAMACO RES INC	$2,399,000	–	194,864	–	0.15%	–
	New	HYZON MOTORS INC	$1,388,000	–	200,000	–	0.08%	–
AMR	New	ALPHA METALLURGICAL RESOUR I	$963,000	–	19,333	–	0.06%	–
RICE	Exit	RICE ACQUISITION CORP	$0	–	-171,359	–	-0.22%	–
SPWR	Exit	SUNPOWER CORP	$0	–	-200,000	–	-0.41%	–
TS	Exit	TENARIS S Asponsored ads	$0	–	-336,761	–	-0.51%	–
CHX	Exit	CHAMPIONX CORPORATION	$0	–	-298,378	–	-0.53%	–
CENX	Exit	CENTURY ALUM CO	$0	–	-600,309	–	-0.54%	–
PSX	Exit	PHILLIPS 66	$0	–	-107,500	–	-0.64%	–
NUE	Exit	NUCOR CORP	$0	–	-100,000	–	-0.67%	–
OKE	Exit	ONEOK INC NEW	$0	–	-200,000	–	-0.78%	–
ALUSWS	Exit	ALUSSA ENERGY ACQUISITION CO*w exp 10/31/202	$0	–	-7,189,449	–	-1.02%	–
NGAC	Exit	NEXTGEN ACQUISITION CORPcl a	$0	–	-1,496,957	–	-1.04%	–
ALUS	Exit	ALUSSA ENERGY ACQUISITION CO	$0	–	-2,584,066	–	-1.68%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-770,134	–	-1.72%	–
VEI	Exit	VINE ENERGY INCcl a	$0	–	-2,031,915	–	-2.21%	–
EQT	Exit	EQT CORP	$0	–	-1,700,877	–	-2.64%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-1,424,547	–	-2.90%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-4,994,480	–	-3.33%	–
ENPH	Exit	ENPHASE ENERGY INC	$0	–	-283,867	–	-3.63%	–

Q2 2021

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$344,055,000	–	1,500,000	–	23.98%	–
CRC	New	CALIFORNIA RES CORP	$72,698,000	–	2,411,996	–	5.07%	–
ERF	New	ENERPLUS CORP	$65,445,000	–	9,109,849	–	4.56%	–
ENPH	New	ENPHASE ENERGY INC	$52,126,000	–	283,867	–	3.63%	–
DEN	New	DENBURY INC	$49,369,000	–	642,994	–	3.44%	–
NESR	New	NATIONAL ENERGY SERVICES REU	$48,133,000	–	3,377,724	–	3.36%	–
CVE	New	CENOVUS ENERGY INC	$47,760,000	–	4,994,480	–	3.33%	–
WLL	New	WHITING PETE CORP NEW	$45,179,000	–	828,206	–	3.15%	–
WHD	New	CACTUS INCcl a	$41,659,000	–	1,134,511	–	2.90%	–
DVN	New	DEVON ENERGY CORP NEW	$41,583,000	–	1,424,547	–	2.90%	–
EQT	New	EQT CORP	$37,862,000	–	1,700,877	–	2.64%	–
SHLS	New	SHOALS TECHNOLOGIES GROUP INcl a	$33,606,000	–	946,637	–	2.34%	–
OVV	New	OVINTIV INC	$32,295,000	–	1,026,203	–	2.25%	–
VEI	New	VINE ENERGY INCcl a	$31,678,000	–	2,031,915	–	2.21%	–
TALO	New	TALOS ENERGY INC	$30,370,000	–	1,941,791	–	2.12%	–
NOVA	New	SUNNOVA ENERGY INTL INC.	$29,138,000	–	773,704	–	2.03%	–
PCT	New	PURECYCLE TECHNOLOGIES INC	$28,206,000	–	1,192,651	–	1.97%	–
MRO	New	MARATHON OIL CORP	$25,563,000	–	1,876,858	–	1.78%	–
CRK	New	COMSTOCK RES INC	$25,329,000	–	3,797,523	–	1.76%	–
SLB	New	SCHLUMBERGER LTD	$24,652,000	–	770,134	–	1.72%	–
ALUS	New	ALUSSA ENERGY ACQUISITION CO	$24,058,000	–	2,584,066	–	1.68%	–
ARCH	New	ARCH RESOURCES INCcl a	$23,085,000	–	405,150	–	1.61%	–
GPRE	New	GREEN PLAINS INC	$21,714,000	–	645,879	–	1.51%	–
AMTX	New	AEMETIS INC	$20,758,000	–	1,858,366	–	1.45%	–
GPRK	New	GEOPARK LTD	$20,593,000	–	1,627,929	–	1.44%	–
DCRN	New	DECARBONIZATION PLUS ACQU II	$17,936,000	–	1,817,177	–	1.25%	–
PDS	New	PRECISION DRILLING CORP	$17,305,000	–	415,456	–	1.21%	–
TECK	New	TECK RESOURCES LTDcl b	$15,135,000	–	657,500	–	1.06%	–
NGAC	New	NEXTGEN ACQUISITION CORPcl a	$14,880,000	–	1,496,957	–	1.04%	–
ALUSWS	New	ALUSSA ENERGY ACQUISITION CO*w exp 10/31/202	$14,585,000	–	7,189,449	–	1.02%	–
DNMR	New	DANIMER SCIENTIFIC INC	$13,647,000	–	544,804	–	0.95%	–
SOI	New	SOLARIS OILFIELD INFRASTRUCT	$12,726,000	–	1,306,576	–	0.89%	–
OKE	New	ONEOK INC NEW	$11,128,000	–	200,000	–	0.78%	–
NUE	New	NUCOR CORP	$9,593,000	–	100,000	–	0.67%	–
AA	New	ALCOA CORP	$9,578,000	–	260,000	–	0.67%	–
PSX	New	PHILLIPS 66	$9,226,000	–	107,500	–	0.64%	–
NBR	New	NABORS INDUSTRIES LTD	$7,997,000	–	70,000	–	0.56%	–
CENX	New	CENTURY ALUM CO	$7,738,000	–	600,309	–	0.54%	–
CHX	New	CHAMPIONX CORPORATION	$7,653,000	–	298,378	–	0.53%	–
EURN	New	EURONAV NV	$7,427,000	–	796,919	–	0.52%	–
TS	New	TENARIS S Asponsored ads	$7,375,000	–	336,761	–	0.51%	–
VIST	New	VISTA OIL & GAS SAB DE CVsponsored ads	$7,128,000	–	1,738,600	–	0.50%	–
DHT	New	DHT HOLDINGS INC	$7,004,000	–	1,079,146	–	0.49%	–
SPWR	New	SUNPOWER CORP	$5,844,000	–	200,000	–	0.41%	–
THR	New	THERMON GROUP HLDGS INC	$5,707,000	–	334,939	–	0.40%	–
CVI	New	CVR ENERGY INC	$3,592,000	–	200,000	–	0.25%	–
RICE	New	RICE ACQUISITION CORP	$3,093,000	–	171,359	–	0.22%	–
WTTR	New	SELECT ENERGY SVCS INC	$831,000	–	137,635	–	0.06%	–
DCRNW	New	DECARBONIZATION PLUS ACQU II*w exp 01/19/202	$691,000	–	473,217	–	0.05%	–

Q4 2020

			Value		Shares		↓ Weighting
PDS	Exit	PRECISION DRILLING CORP	$0	–	-248,043	–	-0.01%	–
OEC	Exit	ORION ENGINEERED CARBONS S A	$0	–	-210,896	–	-0.24%	–
ALUSWS	Exit	ALUSSA ENERGY ACQUISITION CO*w exp 10/31/202	$0	–	-5,218,750	–	-0.28%	–
VIST	Exit	VISTA OIL & GAS SAB DE CVsponsored ads	$0	–	-1,555,956	–	-0.31%	–
WTTR	Exit	SELECT ENERGY SVCS INC	$0	–	-994,347	–	-0.34%	–
GLNG	Exit	GOLAR LNG LTD	$0	–	-852,422	–	-0.46%	–
XPO	Exit	XPO LOGISTICS INC	$0	–	-80,040	–	-0.60%	–
ENS	Exit	ENERSYS	$0	–	-107,552	–	-0.64%	–
DK	Exit	DELEK US HLDGS INC NEW	$0	–	-664,323	–	-0.66%	–
SOI	Exit	SOLARIS OILFIELD INFRSTR INC	$0	–	-1,180,048	–	-0.67%	–
PBF	Exit	PBF ENERGY INCcl a	$0	–	-1,356,119	–	-0.69%	–
GLDD	Exit	GREAT LAKES DREDGE & DOCK CO	$0	–	-845,716	–	-0.72%	–
NFE	Exit	NEW FORTRESS ENERGY INC	$0	–	-200,000	–	-0.78%	–
HBM	Exit	HUDBAY MINERALS INC	$0	–	-2,128,787	–	-0.80%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-570,648	–	-0.82%	–
SBSW	Exit	SIBANYE STILLWATER LTDsponsored adr	$0	–	-889,329	–	-0.88%	–
ETRN	Exit	EQUITRANS MIDSTREAM CORP	$0	–	-1,178,800	–	-0.89%	–
CVI	Exit	CVR ENERGY INC	$0	–	-861,843	–	-0.95%	–
GPRK	Exit	GEOPARK LTD	$0	–	-1,569,580	–	-1.03%	–
MT	Exit	ARCELORMITTAL SA LUXEMBOURGny registry sh	$0	–	-925,231	–	-1.09%	–
PEIX	Exit	PACIFIC ETHANOL INC	$0	–	-1,848,293	–	-1.20%	–
ALUS	Exit	ALUSSA ENERGY ACQUISITION CO	$0	–	-1,437,500	–	-1.27%	–
AR	Exit	ANTERO RESOURCES CORP	$0	–	-6,285,273	–	-1.54%	–
AA	Exit	ALCOA CORP	$0	–	-1,527,291	–	-1.58%	–
TECK	Exit	TECK RESOURCES LTDcl b	$0	–	-1,429,099	–	-1.77%	–
NOVA	Exit	SUNNOVA ENERGY INTL INC.	$0	–	-725,305	–	-1.96%	–
NESR	Exit	NATIONAL ENERGY SERVICES REU	$0	–	-3,505,222	–	-1.99%	–
CNX	Exit	CNX RES CORP	$0	–	-2,369,195	–	-1.99%	–
MGY	Exit	MAGNOLIA OIL & GAS CORPcl a	$0	–	-4,576,206	–	-2.11%	–
DEN	Exit	DENBURY INC	$0	–	-1,468,663	–	-2.30%	–
WHD	Exit	CACTUS INCcl a	$0	–	-1,378,426	–	-2.36%	–
CHX	Exit	CHAMPIONX CORPORATION	$0	–	-3,326,221	–	-2.37%	–
GPRE	Exit	GREEN PLAINS INC	$0	–	-1,727,110	–	-2.38%	–
RRC	Exit	RANGE RES CORP	$0	–	-4,233,762	–	-2.50%	–
CLF	Exit	CLEVELAND-CLIFFS INC NEW	$0	–	-4,574,947	–	-2.62%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-3,197,618	–	-2.70%	–
ERF	Exit	ENERPLUS CORP	$0	–	-16,682,631	–	-2.72%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-1,974,760	–	-2.74%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-8,346,036	–	-2.90%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-1,773,733	–	-3.11%	–
CXO	Exit	CONCHO RES INC	$0	–	-974,583	–	-3.83%	–
PBR	Exit	PETROLEO BRASILEIRO SA PETROsponsored adr	$0	–	-6,243,708	–	-3.96%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-2,229,167	–	-4.83%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-500,000	–	-12.38%	–
IWM	Exit	ISHARES TRput	$0	–	-1,350,000	–	-18.02%	–

Q3 2020

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$202,217,000	–	1,350,000	–	18.02%	–
QQQ	New	INVESCO QQQ TRput	$138,920,000	–	500,000	–	12.38%	–
XEC	Buy	CIMAREX ENERGY CO	$54,236,000	+1.0%	2,229,167	+14.1%	4.83%	-32.5%
PBR	Buy	PETROLEO BRASILEIRO SA PETROsponsored adr	$44,455,000	-12.9%	6,243,708	+1.1%	3.96%	-41.8%
CXO	Buy	CONCHO RES INC	$42,999,000	+22.8%	974,583	+43.3%	3.83%	-17.9%
HFC	Buy	HOLLYFRONTIER CORP	$34,960,000	+46.2%	1,773,733	+116.6%	3.11%	-2.4%
CVE	Buy	CENOVUS ENERGY INC	$32,540,000	-16.3%	8,346,036	+0.3%	2.90%	-44.1%
SLB	New	SCHLUMBERGER LTD	$30,727,000	–	1,974,760	–	2.74%	–
ERF	Buy	ENERPLUS CORP	$30,579,000	-23.2%	16,682,631	+17.8%	2.72%	-48.7%
DVN	New	DEVON ENERGY CORP NEW	$30,249,000	–	3,197,618	–	2.70%	–
CLF	Buy	CLEVELAND-CLIFFS INC NEW	$29,371,000	+483.9%	4,574,947	+402.0%	2.62%	+290.0%
RRC	New	RANGE RES CORP	$28,028,000	–	4,233,762	–	2.50%	–
GPRE	Buy	GREEN PLAINS INC	$26,736,000	+211.0%	1,727,110	+105.2%	2.38%	+107.9%
CHX	Buy	CHAMPIONX CORPORATION	$26,577,000	-18.0%	3,326,221	+0.2%	2.37%	-45.2%
WHD	Sell	CACTUS INCcl a	$26,452,000	-14.3%	1,378,426	-7.8%	2.36%	-42.7%
DEN	New	DENBURY INC	$25,848,000	–	1,468,663	–	2.30%	–
MGY	Sell	MAGNOLIA OIL & GAS CORPcl a	$23,659,000	-20.2%	4,576,206	-6.5%	2.11%	-46.7%
NESR	Buy	NATIONAL ENERGY SERVICES REU	$22,363,000	-7.1%	3,505,222	+0.2%	1.99%	-37.9%
CNX	Sell	CNX RES CORP	$22,365,000	-22.0%	2,369,195	-28.6%	1.99%	-47.9%
NOVA	Buy	SUNNOVA ENERGY INTL INC.	$22,057,000	+91.8%	725,305	+7.6%	1.96%	+28.1%
TECK	New	TECK RESOURCES LTDcl b	$19,904,000	–	1,429,099	–	1.77%	–
AA	New	ALCOA CORP	$17,762,000	–	1,527,291	–	1.58%	–
AR	New	ANTERO RESOURCES CORP	$17,285,000	–	6,285,273	–	1.54%	–
PEIX	New	PACIFIC ETHANOL INC	$13,511,000	–	1,848,293	–	1.20%	–
MT	New	ARCELORMITTAL SA LUXEMBOURGny registry sh	$12,259,000	–	925,231	–	1.09%	–
GPRK	Buy	GEOPARK LTD	$11,552,000	-24.6%	1,569,580	+0.3%	1.03%	-49.6%
CVI	Buy	CVR ENERGY INC	$10,670,000	-7.2%	861,843	+50.7%	0.95%	-38.0%
ETRN	New	EQUITRANS MIDSTREAM CORP	$9,973,000	–	1,178,800	–	0.89%	–
SBSW	Sell	SIBANYE STILLWATER LTDsponsored adr	$9,907,000	-20.6%	889,329	-38.3%	0.88%	-46.9%
CNQ	Sell	CANADIAN NAT RES LTD	$9,148,000	-31.5%	570,648	-25.9%	0.82%	-54.2%
HBM	New	HUDBAY MINERALS INC	$9,004,000	–	2,128,787	–	0.80%	–
NFE	Sell	NEW FORTRESS ENERGY INC	$8,802,000	-62.5%	200,000	-89.0%	0.78%	-75.0%
GLDD	Sell	GREAT LAKES DREDGE & DOCK CO	$8,043,000	-19.3%	845,716	-21.4%	0.72%	-46.0%
PBF	New	PBF ENERGY INCcl a	$7,716,000	–	1,356,119	–	0.69%	–
SOI	Buy	SOLARIS OILFIELD INFRSTR INC	$7,482,000	+8.6%	1,180,048	+27.1%	0.67%	-27.3%
DK	New	DELEK US HLDGS INC NEW	$7,394,000	–	664,323	–	0.66%	–
ENS	Sell	ENERSYS	$7,219,000	-62.1%	107,552	-63.6%	0.64%	-74.7%
XPO	New	XPO LOGISTICS INC	$6,776,000	–	80,040	–	0.60%	–
GLNG	New	GOLAR LNG LTD	$5,161,000	–	852,422	–	0.46%	–
WTTR	Buy	SELECT ENERGY SVCS INC	$3,818,000	-21.5%	994,347	+0.2%	0.34%	-47.5%
VIST	Buy	VISTA OIL & GAS SAB DE CVsponsored ads	$3,501,000	-25.5%	1,555,956	+1.0%	0.31%	-50.2%
OEC	Sell	ORION ENGINEERED CARBONS S A	$2,638,000	-47.5%	210,896	-55.6%	0.24%	-64.9%
PDS	New	PRECISION DRILLING CORP	$155,000	–	248,043	–	0.01%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-594,500	–	-0.54%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-486,647	–	-0.60%	–
UNP	Exit	UNION PAC CORP	$0	–	-40,000	–	-0.90%	–
MNRL	Exit	BRIGHAM MINERALS INC	$0	–	-749,019	–	-1.23%	–
KBR	Exit	KBR INC	$0	–	-527,417	–	-1.59%	–
GTLS	Exit	CHART INDS INC	$0	–	-272,917	–	-1.76%	–
APA	Exit	APACHE CORPput	$0	–	-1,150,000	–	-2.07%	–
HSC	Exit	HARSCO CORP	$0	–	-1,412,957	–	-2.54%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-85,491	–	-2.90%	–
EQT	Exit	EQT CORP	$0	–	-3,650,198	–	-5.79%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-4,111,760	–	-5.86%	–

Q2 2020

			Value		Shares		↓ Weighting
XEC	New	CIMAREX ENERGY CO	$53,701,000	–	1,953,492	–	7.16%	–
PBR	New	PETROLEO BRASILEIRO SA PETROsponsored adr	$51,051,000	–	6,173,060	–	6.81%	–
PE	New	PARSLEY ENERGY INCcl a	$43,914,000	–	4,111,760	–	5.86%	–
EQT	New	EQT CORP	$43,437,000	–	3,650,198	–	5.79%	–
ERF	New	ENERPLUS CORP	$39,829,000	–	14,166,472	–	5.31%	–
CVE	New	CENOVUS ENERGY INC	$38,886,000	–	8,320,482	–	5.18%	–
CXO	New	CONCHO RES INC	$35,020,000	–	680,000	–	4.67%	–
CHX	New	CHAMPIONX CORPORATION	$32,396,000	–	3,319,286	–	4.32%	–
WHD	New	CACTUS INCcl a	$30,856,000	–	1,495,663	–	4.11%	–
MGY	New	MAGNOLIA OIL & GAS CORPcl a	$29,647,000	–	4,892,243	–	3.95%	–
CNX	New	CNX RESOURCES CORPORATION	$28,686,000	–	3,316,258	–	3.82%	–
NESR	New	NATIONAL ENERGY SERVICES REU	$24,066,000	–	3,497,916	–	3.21%	–
HFC	New	HOLLYFRONTIER CORP	$23,916,000	–	819,054	–	3.19%	–
NFE	New	NEW FORTRESS ENERGY LLC	$23,486,000	–	1,812,173	–	3.13%	–
CP	New	CANADIAN PAC RY LTD	$21,728,000	–	85,491	–	2.90%	–
HSC	New	HARSCO CORP	$19,089,000	–	1,412,957	–	2.54%	–
ENS	New	ENERSYS	$19,044,000	–	295,800	–	2.54%	–
APA	New	APACHE CORPput	$15,525,000	–	1,150,000	–	2.07%	–
GPRK	New	GEOPARK LTD	$15,319,000	–	1,564,775	–	2.04%	–
ALUS	New	ALUSSA ENERGY ACQUISITION CO	$14,159,000	–	1,437,500	–	1.89%	–
CNQ	New	CANADIAN NAT RES LTD	$13,346,000	–	770,000	–	1.78%	–
GTLS	New	CHART INDS INC	$13,234,000	–	272,917	–	1.76%	–
SBSW	New	SIBANYE STILLWATER LTDsponsored adr	$12,476,000	–	1,442,351	–	1.66%	–
KBR	New	KBR INC	$11,893,000	–	527,417	–	1.59%	–
CVI	New	CVR ENERGY INC	$11,504,000	–	572,066	–	1.53%	–
NOVA	New	SUNNOVA ENERGY INTL INC	$11,502,000	–	673,790	–	1.53%	–
GLDD	New	GREAT LAKES DREDGE & DOCK CO	$9,961,000	–	1,075,734	–	1.33%	–
MNRL	New	BRIGHAM MINERALS INC	$9,250,000	–	749,019	–	1.23%	–
GPRE	New	GREEN PLAINS INC	$8,596,000	–	841,493	–	1.15%	–
SOI	New	SOLARIS OILFIELD INFRSTR INC	$6,887,000	–	928,108	–	0.92%	–
UNP	New	UNION PAC CORP	$6,763,000	–	40,000	–	0.90%	–
CLF	New	CLEVELAND CLIFFS INC	$5,030,000	–	911,262	–	0.67%	–
OEC	New	ORION ENGINEERED CARBONS S A	$5,028,000	–	474,811	–	0.67%	–
WTTR	New	SELECT ENERGY SVCS INC	$4,862,000	–	992,271	–	0.65%	–
VIST	New	VISTA OIL & GAS S A B DE C Vsponsored ads	$4,700,000	–	1,540,910	–	0.63%	–
TALO	New	TALOS ENERGY INC	$4,477,000	–	486,647	–	0.60%	–
FTI	New	TECHNIPFMC PLC	$4,066,000	–	594,500	–	0.54%	–
ALUSWS	New	ALUSSA ENERGY ACQUISITION CO*w exp 10/31/202	$2,689,000	–	5,218,750	–	0.36%	–

Q4 2019

			Value		Shares		↓ Weighting
LLEXQ	Exit	LILIS ENERGY INC	$0	–	-2,944,028	–	-0.07%	–
NINE	Exit	NINE ENERGY SVC INC	$0	–	-528,601	–	-0.22%	–
GLDD	Exit	GREAT LAKES DREDGE & DOCK CO	$0	–	-379,452	–	-0.27%	–
USWS	Exit	U S WELL SVCS INCcl a	$0	–	-1,905,221	–	-0.29%	–
PDS	Exit	PRECISION DRILLING CORP	$0	–	-3,979,200	–	-0.31%	–
HBM	Exit	HUDBAY MINERALS INC	$0	–	-1,300,000	–	-0.32%	–
MT	Exit	ARCELORMITTAL SA LUXEMBOURGny registry sh	$0	–	-400,000	–	-0.39%	–
VIST	Exit	VISTA OIL & GAS S A B DE C Vsponsored ads	$0	–	-1,513,615	–	-0.54%	–
VALE	Exit	VALE S Asponsored ads	$0	–	-700,000	–	-0.55%	–
SRI	Exit	STONERIDGE INC	$0	–	-267,492	–	-0.57%	–
NOVA	Exit	SUNNOVA ENERGY INTL INC	$0	–	-802,464	–	-0.59%	–
SOI	Exit	SOLARIS OILFIELD INFRSTR INC	$0	–	-907,653	–	-0.84%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-100,000	–	-0.91%	–
MNRL	Exit	BRIGHAM MINERALS INC	$0	–	-721,080	–	-0.98%	–
FSLR	Exit	FIRST SOLAR INC	$0	–	-258,635	–	-1.03%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-1,607,172	–	-1.06%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-741,061	–	-1.08%	–
CRCQQ	Exit	CALIFORNIA RES CORP	$0	–	-1,565,206	–	-1.10%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-1,000,000	–	-1.20%	–
NESR	Exit	NATIONAL ENERGY SERVICES REU	$0	–	-2,965,904	–	-1.36%	–
BKR	Exit	BAKER HUGHES A GE COcl a	$0	–	-875,000	–	-1.39%	–
INT	Exit	WORLD FUEL SVCS CORP	$0	–	-542,184	–	-1.48%	–
HSC	Exit	HARSCO CORP	$0	–	-1,266,482	–	-1.65%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-400,000	–	-1.67%	–
AR	Exit	ANTERO RES CORP	$0	–	-8,156,425	–	-1.69%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-1,034,977	–	-1.71%	–
PUMP	Exit	PROPETRO HLDG CORP	$0	–	-3,276,440	–	-2.04%	–
NFE	Exit	NEW FORTRESS ENERGY LLC	$0	–	-1,672,825	–	-2.07%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-1,096,503	–	-2.32%	–
EOG	Exit	EOG RES INC	$0	–	-455,000	–	-2.32%	–
WHD	Exit	CACTUS INCcl a	$0	–	-1,205,046	–	-2.39%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-1,720,528	–	-2.40%	–
VET	Exit	VERMILION ENERGY INC	$0	–	-2,177,937	–	-2.49%	–
MTDR	Exit	MATADOR RES CO	$0	–	-2,226,562	–	-2.52%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-3,110,797	–	-2.62%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-785,050	–	-2.89%	–
JAG	Exit	JAGGED PEAK ENERGY INC	$0	–	-5,885,142	–	-2.93%	–
MGY	Exit	MAGNOLIA OIL & GAS CORPcl a	$0	–	-5,474,190	–	-4.17%	–
ERF	Exit	ENERPLUS CORP	$0	–	-9,950,023	–	-5.09%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-678,000	–	-5.85%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-2,267,367	–	-7.45%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-2,100,000	–	-27.19%	–

Q3 2019

			Value		Shares		↓ Weighting
QQQ	Sell	INVESCO QQQ TRput	$396,501,000	-28.0%	2,100,000	-28.8%	27.19%	-17.8%
XEC	Buy	CIMAREX ENERGY CO	$108,698,000	+50.7%	2,267,367	+86.5%	7.45%	+72.0%
PXD	New	PIONEER NAT RES CO	$85,272,000	–	678,000	–	5.85%	–
ERF	Buy	ENERPLUS CORP	$74,191,000	+55.7%	9,950,023	+57.2%	5.09%	+77.7%
MGY	Buy	MAGNOLIA OIL & GAS CORPcl a	$60,764,000	+7.4%	5,474,190	+12.0%	4.17%	+22.6%
JAG	Buy	JAGGED PEAK ENERGY INC	$42,726,000	+26.7%	5,885,142	+44.3%	2.93%	+44.6%
HFC	Sell	HOLLYFRONTIER CORP	$42,110,000	-11.7%	785,050	-23.8%	2.89%	+0.8%
MRO	Sell	MARATHON OIL CORP	$38,169,000	-51.9%	3,110,797	-44.2%	2.62%	-45.0%
MTDR	Buy	MATADOR RES CO	$36,805,000	-9.6%	2,226,562	+8.7%	2.52%	+3.1%
VET	New	VERMILION ENERGY INC	$36,313,000	–	2,177,937	–	2.49%	–
TALO	Buy	TALOS ENERGY INC	$34,978,000	-0.2%	1,720,528	+18.0%	2.40%	+13.9%
WHD	Buy	CACTUS INCcl a	$34,874,000	+8.0%	1,205,046	+23.6%	2.39%	+23.3%
EOG	New	EOG RES INC	$33,770,000	–	455,000	–	2.32%	–
CLR	New	CONTINENTAL RESOURCES INC	$33,761,000	–	1,096,503	–	2.32%	–
NFE	Sell	NEW FORTRESS ENERGY LLC	$30,161,000	+23.8%	1,672,825	-19.6%	2.07%	+41.3%
PUMP	Buy	PROPETRO HLDG CORP	$29,783,000	+25.9%	3,276,440	+186.7%	2.04%	+43.8%
FTI	New	TECHNIPFMC PLC	$24,984,000	–	1,034,977	–	1.71%	–
AR	Buy	ANTERO RES CORP	$24,632,000	+44.9%	8,156,425	+165.4%	1.69%	+65.4%
MPC	New	MARATHON PETE CORP	$24,300,000	–	400,000	–	1.67%	–
HSC	Buy	HARSCO CORP	$24,012,000	+199.6%	1,266,482	+333.6%	1.65%	+241.7%
INT	Sell	WORLD FUEL SVCS CORP	$21,655,000	-20.2%	542,184	-28.1%	1.48%	-8.9%
BKR	New	BAKER HUGHES A GE COcl a	$20,300,000	–	875,000	–	1.39%	–
NESR	Buy	NATIONAL ENERGY SERVICES REU	$19,812,000	-14.4%	2,965,904	+11.4%	1.36%	-2.3%
COG	New	CABOT OIL & GAS CORP	$17,570,000	–	1,000,000	–	1.20%	–
CRCQQ	New	CALIFORNIA RES CORP	$15,965,000	–	1,565,206	–	1.10%	–
NOV	New	NATIONAL OILWELL VARCO INC	$15,710,000	–	741,061	–	1.08%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$15,381,000	–	1,607,172	–	1.06%	–
FSLR	Sell	FIRST SOLAR INC	$15,003,000	-37.1%	258,635	-28.8%	1.03%	-28.2%
MNRL	Buy	BRIGHAM MINERALS INC	$14,349,000	+8.0%	721,080	+16.4%	0.98%	+23.3%
KSU	New	KANSAS CITY SOUTHERN	$13,301,000	–	100,000	–	0.91%	–
SOI	Buy	SOLARIS OILFIELD INFRSTR INC	$12,181,000	+13.8%	907,653	+27.0%	0.84%	+29.9%
NOVA	New	SUNNOVA ENERGY INTL INC	$8,626,000	–	802,464	–	0.59%	–
SRI	Buy	STONERIDGE INC	$8,284,000	+33.7%	267,492	+36.2%	0.57%	+52.7%
VALE	New	VALE S Asponsored ads	$8,050,000	–	700,000	–	0.55%	–
VIST	New	VISTA OIL & GAS S A B DE C Vsponsored ads	$7,825,000	–	1,513,615	–	0.54%	–
MT	New	ARCELORMITTAL SA LUXEMBOURGny registry sh	$5,696,000	–	400,000	–	0.39%	–
HBM	New	HUDBAY MINERALS INC	$4,694,000	–	1,300,000	–	0.32%	–
PDS	Sell	PRECISION DRILLING CORP	$4,569,000	-55.8%	3,979,200	-27.7%	0.31%	-49.6%
USWS	Sell	U S WELL SVCS INCcl a	$4,172,000	-54.9%	1,905,221	-0.7%	0.29%	-48.6%
GLDD	New	GREAT LAKES DREDGE & DOCK CO	$3,965,000	–	379,452	–	0.27%	–
NINE	Sell	NINE ENERGY SVC INC	$3,261,000	-69.4%	528,601	-14.2%	0.22%	-65.1%
LLEXQ	Sell	LILIS ENERGY INC	$980,000	-64.9%	2,944,028	-35.7%	0.07%	-60.1%
CJ	Exit	C&J ENERGY SVCS INC NEW	$0	–	-118,809	–	-0.08%	–
CNX	Exit	CNX RESOURCES CORPORATION	$0	–	-205,900	–	-0.09%	–
MGYWS	Exit	MAGNOLIA OIL & GAS CORP*w exp 07/31/202	$0	–	-863,769	–	-0.17%	–
APY	Exit	APERGY CORP	$0	–	-96,951	–	-0.20%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-439,164	–	-0.38%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-100,000	–	-0.56%	–
STLD	Exit	STEEL DYNAMICS INC	$0	–	-350,000	–	-0.64%	–
QEP	Exit	QEP RES INC	$0	–	-1,574,980	–	-0.68%	–
SRCI	Exit	SRC ENERGY INC	$0	–	-2,300,000	–	-0.68%	–
PBF	Exit	PBF ENERGY INCcl a	$0	–	-520,000	–	-0.98%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-300,335	–	-1.12%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-475,000	–	-1.13%	–
CLF	Exit	CLEVELAND CLIFFS INC	$0	–	-1,889,670	–	-1.21%	–
PVAC	Exit	PENN VA CORP NEW	$0	–	-719,096	–	-1.32%	–
OXY	Exit	OCCIDENTAL PETE CORPcall	$0	–	-500,000	–	-1.51%	–
APA	Exit	APACHE CORP	$0	–	-1,000,000	–	-1.74%	–
CXO	Exit	CONCHO RES INC	$0	–	-484,008	–	-3.00%	–
SLB	Exit	SCHLUMBERGER LTDcall	$0	–	-1,463,600	–	-3.49%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-3,484,756	–	-3.91%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-1,526,372	–	-4.61%	–

Q2 2019

			Value		Shares		↓ Weighting
QQQ	New	INVESCO QQQ TRput	$550,883,000	–	2,950,000	–	33.10%	–
MRO	New	MARATHON OIL CORP	$79,279,000	–	5,579,078	–	4.76%	–
OXY	New	OCCIDENTAL PETE CORP	$76,746,000	–	1,526,372	–	4.61%	–
XEC	New	CIMAREX ENERGY CO	$72,127,000	–	1,215,700	–	4.33%	–
WLL	New	WHITING PETE CORP NEW	$65,095,000	–	3,484,756	–	3.91%	–
SLB	New	SCHLUMBERGER LTDcall	$58,163,000	–	1,463,600	–	3.49%	–
MGY	New	MAGNOLIA OIL & GAS CORPcl a	$56,576,000	–	4,885,671	–	3.40%	–
CXO	New	CONCHO RES INC	$49,940,000	–	484,008	–	3.00%	–
HFC	New	HOLLYFRONTIER CORP	$47,708,000	–	1,030,863	–	2.87%	–
ERF	New	ENERPLUS CORP	$47,663,000	–	6,331,239	–	2.86%	–
MTDR	New	MATADOR RES CO	$40,733,000	–	2,048,965	–	2.45%	–
TALO	New	TALOS ENERGY INC	$35,056,000	–	1,457,615	–	2.11%	–
JAG	New	JAGGED PEAK ENERGY INC	$33,724,000	–	4,077,814	–	2.03%	–
WHD	New	CACTUS INCcl a	$32,289,000	–	974,901	–	1.94%	–
APA	New	APACHE CORP	$28,970,000	–	1,000,000	–	1.74%	–
INT	New	WORLD FUEL SVCS CORP	$27,130,000	–	754,461	–	1.63%	–
OXY	New	OCCIDENTAL PETE CORPcall	$25,140,000	–	500,000	–	1.51%	–
NFE	New	NEW FORTRESS ENERGY LLC	$24,365,000	–	2,080,700	–	1.46%	–
FSLR	New	FIRST SOLAR INC	$23,853,000	–	363,171	–	1.43%	–
PUMP	New	PROPETRO HLDG CORP	$23,653,000	–	1,142,633	–	1.42%	–
NESR	New	NATIONAL ENERGY SERVICES REU	$23,156,000	–	2,661,638	–	1.39%	–
PVAC	New	PENN VA CORP NEW	$22,062,000	–	719,096	–	1.32%	–
CLF	New	CLEVELAND CLIFFS INC	$20,163,000	–	1,889,670	–	1.21%	–
SLB	New	SCHLUMBERGER LTD	$18,877,000	–	475,000	–	1.13%	–
RIO	New	RIO TINTO PLCsponsored adr	$18,723,000	–	300,335	–	1.12%	–
AR	New	ANTERO RES CORP	$16,998,000	–	3,073,806	–	1.02%	–
PBF	New	PBF ENERGY INCcl a	$16,276,000	–	520,000	–	0.98%	–
MNRL	New	BRIGHAM MINERALS INC	$13,290,000	–	619,309	–	0.80%	–
SRCI	New	SRC ENERGY INC	$11,408,000	–	2,300,000	–	0.68%	–
QEP	New	QEP RES INC	$11,387,000	–	1,574,980	–	0.68%	–
SOI	New	SOLARIS OILFIELD INFRSTR INC	$10,707,000	–	714,744	–	0.64%	–
NINE	New	NINE ENERGY SVC INC	$10,671,000	–	615,763	–	0.64%	–
STLD	New	STEEL DYNAMICS INC	$10,570,000	–	350,000	–	0.64%	–
PDS	New	PRECISION DRILLING CORP	$10,342,000	–	5,500,395	–	0.62%	–
CNI	New	CANADIAN NATL RY CO	$9,263,000	–	100,000	–	0.56%	–
USWS	New	U S WELL SVCS INCcl a	$9,252,000	–	1,919,452	–	0.56%	–
HSC	New	HARSCO CORP	$8,015,000	–	292,093	–	0.48%	–
EXTN	New	EXTERRAN CORP	$6,245,000	–	439,164	–	0.38%	–
SRI	New	STONERIDGE INC	$6,198,000	–	196,443	–	0.37%	–
APY	New	APERGY CORP	$3,252,000	–	96,951	–	0.20%	–
MGYWS	New	MAGNOLIA OIL & GAS CORP*w exp 07/31/202	$2,885,000	–	863,769	–	0.17%	–
LLEXQ	New	LILIS ENERGY INC	$2,794,000	–	4,580,000	–	0.17%	–
CNX	New	CNX RESOURCES CORPORATION	$1,505,000	–	205,900	–	0.09%	–
CJ	New	C&J ENERGY SVCS INC NEW	$1,400,000	–	118,809	–	0.08%	–

Q4 2018

			Value		Shares		↓ Weighting
TELL	Exit	TELLURIAN INC NEW	$0	–	-132,600	–	-0.10%	–
MGYWS	Exit	MAGNOLIA OIL & GAS CORP*w exp 07/31/202	$0	–	-835,155	–	-0.34%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-164,731	–	-0.38%	–
ERII	Exit	ENERGY RECOVERY INC	$0	–	-540,526	–	-0.42%	–
EGC	Exit	ENERGY XXI GULF COAST INC	$0	–	-600,386	–	-0.43%	–
NINE	Exit	NINE ENERGY SVC INC	$0	–	-200,000	–	-0.53%	–
FSLR	Exit	FIRST SOLAR INC	$0	–	-150,000	–	-0.63%	–
BKR	Exit	BAKER HUGHES A GE COcl a	$0	–	-220,000	–	-0.64%	–
TECK	Exit	TECK RESOURCES LTDcl b	$0	–	-317,300	–	-0.66%	–
EAF	Exit	GRAFTECH INTL LTD	$0	–	-396,612	–	-0.67%	–
ARCH	Exit	ARCH COAL INCcl a	$0	–	-113,395	–	-0.88%	–
HAL	Exit	HALLIBURTON CO	$0	–	-280,000	–	-0.98%	–
RIG	Exit	TRANSOCEAN LTD	$0	–	-850,000	–	-1.02%	–
KOS	Exit	KOSMOS ENERGY LTD	$0	–	-1,345,514	–	-1.09%	–
WFTIQ	Exit	WEATHERFORD INTL PLC	$0	–	-5,000,000	–	-1.17%	–
SOI	Exit	SOLARIS OILFIELD INFRSTR INC	$0	–	-720,000	–	-1.18%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-1,125,000	–	-1.35%	–
PQG	Exit	PQ GROUP HLDGS INC	$0	–	-940,142	–	-1.42%	–
LLEXQ	Exit	LILIS ENERGY INC	$0	–	-3,545,396	–	-1.50%	–
MDRIQ	Exit	MCDERMOTT INTL INC	$0	–	-1,017,936	–	-1.62%	–
WHD	Exit	CACTUS INCcl a	$0	–	-500,000	–	-1.65%	–
BOOM	Exit	DMC GLOBAL INC	$0	–	-478,525	–	-1.69%	–
REN	Exit	RESOLUTE ENERGY CORP	$0	–	-543,991	–	-1.78%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-99,156	–	-1.81%	–
VET	Exit	VERMILION ENERGY INC	$0	–	-700,000	–	-1.99%	–
NBR	Exit	NABORS INDUSTRIES LTD	$0	–	-3,861,218	–	-2.06%	–
PUMP	Exit	PROPETRO HLDG CORP	$0	–	-1,554,042	–	-2.22%	–
CDEV	Exit	CENTENNIAL RESOURCE DEV INCcl a	$0	–	-1,181,162	–	-2.23%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-787,845	–	-2.24%	–
BTEGF	Exit	BAYTEX ENERGY CORP	$0	–	-8,922,800	–	-2.24%	–
NESR	Exit	NATIONAL ENERGY SERVICES REU	$0	–	-2,354,219	–	-2.36%	–
OASPQ	Exit	OASIS PETE INC NEW	$0	–	-2,000,000	–	-2.45%	–
QEP	Exit	QEP RES INC	$0	–	-2,696,892	–	-2.64%	–
CPG	Exit	CRESCENT PT ENERGY CORP	$0	–	-5,314,408	–	-2.92%	–
SRCI	Exit	SRC ENERGY INC	$0	–	-4,153,867	–	-3.19%	–
JAG	Exit	JAGGED PEAK ENERGY INC	$0	–	-3,069,788	–	-3.67%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-1,876,986	–	-3.78%	–
MGY	Exit	MAGNOLIA OIL & GAS CORPcl a	$0	–	-3,340,286	–	-4.33%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-550,000	–	-4.42%	–
ERF	Exit	ENERPLUS CORP	$0	–	-4,331,157	–	-4.62%	–
RRC	Exit	RANGE RES CORP	$0	–	-3,298,232	–	-4.84%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-950,000	–	-23.87%	–

Q3 2018

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$276,184,000	+103.6%	950,000	+90.0%	23.87%	+92.3%
RRC	New	RANGE RES CORP	$56,037,000	–	3,298,232	–	4.84%	–
ERF	New	ENERPLUS CORP	$53,459,000	–	4,331,157	–	4.62%	–
XEC	New	CIMAREX ENERGY CO	$51,117,000	–	550,000	–	4.42%	–
MGY	New	MAGNOLIA OIL & GAS CORPcl a	$50,138,000	–	3,340,286	–	4.33%	–
MRO	Sell	MARATHON OIL CORP	$43,696,000	+7.4%	1,876,986	-3.7%	3.78%	+1.5%
JAG	Buy	JAGGED PEAK ENERGY INC	$42,455,000	+41.8%	3,069,788	+33.5%	3.67%	+33.9%
SRCI	Buy	SRC ENERGY INC	$36,928,000	+81.1%	4,153,867	+124.5%	3.19%	+71.0%
CPG	New	CRESCENT PT ENERGY CORP	$33,805,000	–	5,314,408	–	2.92%	–
QEP	New	QEP RES INC	$30,529,000	–	2,696,892	–	2.64%	–
OASPQ	Buy	OASIS PETE INC NEW	$28,360,000	+15.1%	2,000,000	+5.3%	2.45%	+8.7%
NESR	Buy	NATIONAL ENERGY SERVICES REU	$27,356,000	+30.7%	2,354,219	+17.4%	2.36%	+23.4%
BTEGF	New	BAYTEX ENERGY CORP	$25,893,000	–	8,922,800	–	2.24%	–
TALO	Buy	TALOS ENERGY INC	$25,857,000	+41.7%	787,845	+38.7%	2.24%	+33.8%
CDEV	New	CENTENNIAL RESOURCE DEV INCcl a	$25,808,000	–	1,181,162	–	2.23%	–
PUMP	Buy	PROPETRO HLDG CORP	$25,626,000	+6.6%	1,554,042	+1.3%	2.22%	+0.7%
NBR	New	NABORS INDUSTRIES LTD	$23,785,000	–	3,861,218	–	2.06%	–
VET	New	VERMILION ENERGY INC	$23,054,000	–	700,000	–	1.99%	–
CP	New	CANADIAN PAC RY LTD	$20,965,000	–	99,156	–	1.81%	–
REN	New	RESOLUTE ENERGY CORP	$20,568,000	–	543,991	–	1.78%	–
BOOM	Buy	DMC GLOBAL INC	$19,524,000	+161.5%	478,525	+187.8%	1.69%	+147.0%
WHD	Buy	CACTUS INCcl a	$19,140,000	+16.2%	500,000	+2.6%	1.65%	+9.8%
MDRIQ	Buy	MCDERMOTT INTL INC	$18,761,000	+0.7%	1,017,936	+7.4%	1.62%	-4.9%
LLEXQ	Buy	LILIS ENERGY INC	$17,372,000	+229.8%	3,545,396	+250.0%	1.50%	+211.4%
PQG	Sell	PQ GROUP HLDGS INC	$16,424,000	-4.4%	940,142	-1.5%	1.42%	-9.7%
FCX	New	FREEPORT-MCMORAN INCcl b	$15,660,000	–	1,125,000	–	1.35%	–
SOI	Sell	SOLARIS OILFIELD INFRSTR INC	$13,601,000	-12.1%	720,000	-33.5%	1.18%	-17.0%
WFTIQ	Buy	WEATHERFORD INTL PLC	$13,550,000	-5.0%	5,000,000	+15.3%	1.17%	-10.3%
KOS	Sell	KOSMOS ENERGY LTD	$12,581,000	-43.7%	1,345,514	-50.2%	1.09%	-46.8%
RIG	Sell	TRANSOCEAN LTD	$11,858,000	-32.1%	850,000	-34.6%	1.02%	-35.9%
HAL	New	HALLIBURTON CO	$11,348,000	–	280,000	–	0.98%	–
ARCH	New	ARCH COAL INCcl a	$10,138,000	–	113,395	–	0.88%	–
EAF	Sell	GRAFTECH INTL LTD	$7,738,000	-20.6%	396,612	-26.8%	0.67%	-25.0%
TECK	New	TECK RESOURCES LTDcl b	$7,647,000	–	317,300	–	0.66%	–
BKR	New	BAKER HUGHES A GE COcl a	$7,443,000	–	220,000	–	0.64%	–
FSLR	New	FIRST SOLAR INC	$7,263,000	–	150,000	–	0.63%	–
NINE	Sell	NINE ENERGY SVC INC	$6,116,000	-38.2%	200,000	-33.1%	0.53%	-41.6%
EGC	New	ENERGY XXI GULF COAST INC	$5,019,000	–	600,386	–	0.43%	–
ERII	Sell	ENERGY RECOVERY INC	$4,838,000	-26.8%	540,526	-33.9%	0.42%	-30.9%
EXTN	New	EXTERRAN CORP	$4,370,000	–	164,731	–	0.38%	–
MGYWS	New	MAGNOLIA OIL & GAS CORP*w exp 07/31/202	$3,925,000	–	835,155	–	0.34%	–
TELL	New	TELLURIAN INC NEW	$1,189,000	–	132,600	–	0.10%	–
TPGEWS	Exit	TPG PACE ENERGY HLDGS CORP*w exp 99/99/999	$0	–	-889,900	–	-0.22%	–
GPRK	Exit	GEOPARK LTD	$0	–	-134,553	–	-0.25%	–
KMG	Exit	KMG CHEMICALS INC	$0	–	-65,000	–	-0.44%	–
GVA	Exit	GRANITE CONSTR INC	$0	–	-212,500	–	-1.08%	–
PVAC	Exit	PENN VA CORP NEW	$0	–	-150,000	–	-1.16%	–
RDC	Exit	ROWAN COMPANIES PLC	$0	–	-808,721	–	-1.20%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-100,000	–	-1.20%	–
KOS	Exit	KOSMOS ENERGY LTDcall	$0	–	-1,633,100	–	-1.24%	–
CRCQQ	Exit	CALIFORNIA RES CORP	$0	–	-322,681	–	-1.34%	–
CLF	Exit	CLEVELAND CLIFFS INC	$0	–	-1,900,000	–	-1.47%	–
X	Exit	UNITED STATES STL CORP NEW	$0	–	-545,000	–	-1.73%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-371,777	–	-2.20%	–
TS	Exit	TENARIS S Asponsored adr	$0	–	-700,000	–	-2.33%	–
NFX	Exit	NEWFIELD EXPL CO	$0	–	-1,028,589	–	-2.85%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-835,352	–	-3.36%	–
TPGE	Exit	TPG PACE ENERGY HLDGS CORPcl a	$0	–	-4,038,848	–	-4.02%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-1,800,000	–	-4.99%	–
ECA	Exit	ENCANA CORP	$0	–	-4,438,888	–	-5.30%	–
HES	Exit	HESS CORP	$0	–	-875,000	–	-5.36%	–
HAL	Exit	HALLIBURTON COcall	$0	–	-3,579,400	–	-14.76%	–

Q2 2018

			Value		Shares		↓ Weighting
HAL	New	HALLIBURTON COcall	$161,287,000	–	3,579,400	–	14.76%	–
SPY	New	SPDR S&P 500 ETF TRput	$135,641,000	–	500,000	–	12.41%	–
HES	New	HESS CORP	$58,529,000	–	875,000	–	5.36%	–
ECA	New	ENCANA CORP	$57,928,000	–	4,438,888	–	5.30%	–
PE	New	PARSLEY ENERGY INCcl a	$54,504,000	–	1,800,000	–	4.99%	–
TPGE	New	TPG PACE ENERGY HLDGS CORPcl a	$43,902,000	–	4,038,848	–	4.02%	–
MRO	New	MARATHON OIL CORP	$40,677,000	–	1,950,000	–	3.72%	–
DVN	New	DEVON ENERGY CORP NEW	$36,721,000	–	835,352	–	3.36%	–
NFX	New	NEWFIELD EXPL CO	$31,114,000	–	1,028,589	–	2.85%	–
JAG	New	JAGGED PEAK ENERGY INC	$29,946,000	–	2,300,000	–	2.74%	–
TS	New	TENARIS S Asponsored adr	$25,473,000	–	700,000	–	2.33%	–
OASPQ	New	OASIS PETE INC NEW	$24,643,000	–	1,900,000	–	2.26%	–
CLR	New	CONTINENTAL RESOURCES INC	$24,076,000	–	371,777	–	2.20%	–
PUMP	New	PROPETRO HLDG CORP	$24,047,000	–	1,533,571	–	2.20%	–
KOS	New	KOSMOS ENERGY LTD	$22,329,000	–	2,700,000	–	2.04%	–
NESR	New	NATIONAL ENERGY SERVICES REU	$20,929,000	–	2,004,707	–	1.92%	–
SRCI	New	SRC ENERGY INC	$20,387,000	–	1,850,000	–	1.87%	–
X	New	UNITED STATES STL CORP NEW	$18,939,000	–	545,000	–	1.73%	–
MDRIQ	New	MCDERMOTT INTL INC	$18,625,000	–	947,837	–	1.70%	–
TALO	New	TALOS ENERGY INC	$18,249,000	–	567,955	–	1.67%	–
RIG	New	TRANSOCEAN LTD	$17,472,000	–	1,300,000	–	1.60%	–
PQG	New	PQ GROUP HLDGS INC	$17,183,000	–	954,608	–	1.57%	–
WHD	New	CACTUS INCcl a	$16,471,000	–	487,459	–	1.51%	–
CLF	New	CLEVELAND CLIFFS INC	$16,017,000	–	1,900,000	–	1.47%	–
SOI	New	SOLARIS OILFIELD INFRSTR INC	$15,480,000	–	1,083,243	–	1.42%	–
CRCQQ	New	CALIFORNIA RES CORP	$14,663,000	–	322,681	–	1.34%	–
WFTIQ	New	WEATHERFORD INTL PLC	$14,264,000	–	4,335,718	–	1.30%	–
KOS	New	KOSMOS ENERGY LTDcall	$13,506,000	–	1,633,100	–	1.24%	–
FANG	New	DIAMONDBACK ENERGY INC	$13,157,000	–	100,000	–	1.20%	–
RDC	New	ROWAN COMPANIES PLC	$13,117,000	–	808,721	–	1.20%	–
PVAC	New	PENN VA CORP NEW	$12,733,000	–	150,000	–	1.16%	–
GVA	New	GRANITE CONSTR INC	$11,828,000	–	212,500	–	1.08%	–
NINE	New	NINE ENERGY SVC INC	$9,898,000	–	298,853	–	0.91%	–
EAF	New	GRAFTECH INTL LTD	$9,744,000	–	541,621	–	0.89%	–
BOOM	New	DMC GLOBAL INC	$7,465,000	–	166,255	–	0.68%	–
ERII	New	ENERGY RECOVERY INC	$6,610,000	–	818,049	–	0.60%	–
LLEXQ	New	LILIS ENERGY INC	$5,268,000	–	1,012,970	–	0.48%	–
KMG	New	KMG CHEMICALS INC	$4,796,000	–	65,000	–	0.44%	–
GPRK	New	GEOPARK LTD	$2,777,000	–	134,553	–	0.25%	–
TPGEWS	New	TPG PACE ENERGY HLDGS CORP*w exp 99/99/999	$2,447,000	–	889,900	–	0.22%	–

Q4 2017

			Value		Shares		↓ Weighting
CLDPQ	Exit	CLOUD PEAK ENERGY INC	$0	–	-335,110	–	-0.20%	–
HAL	Exit	HALLIBURTON CO	$0	–	-60,000	–	-0.45%	–
DSKE	Exit	DASEKE INC	$0	–	-212,354	–	-0.45%	–
DK	Exit	DELEK US HLDGS INC NEW	$0	–	-150,000	–	-0.65%	–
PTEN	Exit	PATTERSON UTI ENERGY INC	$0	–	-275,000	–	-0.94%	–
ERII	Exit	ENERGY RECOVERY INC	$0	–	-800,000	–	-1.03%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-50,000	–	-1.37%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-150,000	–	-1.37%	–
NSC	Exit	NORFOLK SOUTHERN CORP	$0	–	-70,000	–	-1.51%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-358,750	–	-1.56%	–
WFTIQ	Exit	WEATHERFORD INTL PLC	$0	–	-2,250,000	–	-1.68%	–
NCSM	Exit	NCS MULTISTAGE HLDGS INC	$0	–	-575,000	–	-2.25%	–
PQG	Exit	PQ GROUP HLDGS INC	$0	–	-925,000	–	-2.60%	–
AROC	Exit	ARCHROCK INC	$0	–	-1,340,733	–	-2.74%	–
RRC	Exit	RANGE RES CORP	$0	–	-1,000,000	–	-3.18%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-219,460	–	-4.06%	–
GLNG	Exit	GOLAR LNG LTD BERMUDA	$0	–	-1,148,389	–	-4.23%	–
KOS	Exit	KOSMOS ENERGY LTD	$0	–	-3,347,266	–	-4.34%	–
SM	Exit	SM ENERGY CO	$0	–	-1,628,756	–	-4.70%	–
PUMP	Exit	PROPETRO HLDG CORP	$0	–	-2,348,793	–	-5.49%	–
REI	Exit	RING ENERGY INC	$0	–	-2,651,510	–	-6.25%	–
LPI	Exit	LAREDO PETROLEUM INC	$0	–	-3,310,000	–	-6.97%	–
XOGAQ	Exit	EXTRACTION OIL AND GAS INC	$0	–	-2,967,667	–	-7.43%	–
SWN	Exit	SOUTHWESTERN ENERGY CO	$0	–	-7,937,447	–	-7.89%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-3,603,125	–	-7.95%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-3,856,508	–	-9.00%	–
WPX	Exit	WPX ENERGY INC	$0	–	-5,187,300	–	-9.71%	–

Q3 2017

			Value		Shares		↓ Weighting
WPX	Sell	WPX ENERGY INC	$59,654,000	+9.5%	5,187,300	-8.0%	9.71%	+28.5%
GPORQ	Buy	GULFPORT ENERGY CORP	$55,302,000	+4.7%	3,856,508	+7.7%	9.00%	+22.9%
MRO	New	MARATHON OIL CORP	$48,858,000	–	3,603,125	–	7.95%	–
SWN	New	SOUTHWESTERN ENERGY CO	$48,498,000	–	7,937,447	–	7.89%	–
XOGAQ	Sell	EXTRACTION OIL AND GAS INC	$45,672,000	-0.7%	2,967,667	-13.2%	7.43%	+16.6%
LPI	Sell	LAREDO PETROLEUM INC	$42,798,000	-44.5%	3,310,000	-54.9%	6.97%	-34.9%
REI	Buy	RING ENERGY INC	$38,421,000	+38.6%	2,651,510	+24.3%	6.25%	+62.7%
PUMP	Sell	PROPETRO HLDG CORP	$33,705,000	+7.2%	2,348,793	-0.1%	5.49%	+25.9%
SM	New	SM ENERGY CO	$28,894,000	–	1,628,756	–	4.70%	–
KOS	New	KOSMOS ENERGY LTD	$26,644,000	–	3,347,266	–	4.34%	–
GLNG	Buy	GOLAR LNG LTD BERMUDA	$25,965,000	+17.3%	1,148,389	+15.4%	4.23%	+37.7%
XEC	Sell	CIMAREX ENERGY CO	$24,946,000	+3.9%	219,460	-14.1%	4.06%	+22.0%
RRC	New	RANGE RES CORP	$19,570,000	–	1,000,000	–	3.18%	–
AROC	Buy	ARCHROCK INC	$16,826,000	+146.7%	1,340,733	+124.1%	2.74%	+189.5%
PQG	New	PQ GROUP HLDGS INC	$15,956,000	–	925,000	–	2.60%	–
WFTIQ	New	WEATHERFORD INTL PLC	$10,305,000	–	2,250,000	–	1.68%	–
COG	Sell	CABOT OIL & GAS CORP	$9,597,000	-71.3%	358,750	-73.1%	1.56%	-66.4%
NSC	New	NORFOLK SOUTHERN CORP	$9,257,000	–	70,000	–	1.51%	–
MPC	New	MARATHON PETE CORP	$8,412,000	–	150,000	–	1.37%	–
CP	Sell	CANADIAN PAC RY LTD	$8,402,000	-62.0%	50,000	-63.7%	1.37%	-55.4%
ERII	New	ENERGY RECOVERY INC	$6,320,000	–	800,000	–	1.03%	–
PTEN	Sell	PATTERSON UTI ENERGY INC	$5,759,000	-58.0%	275,000	-59.5%	0.94%	-50.7%
DK	New	DELEK US HLDGS INC NEW	$4,010,000	–	150,000	–	0.65%	–
DSKE	New	DASEKE INC	$2,771,000	–	212,354	–	0.45%	–
HAL	New	HALLIBURTON CO	$2,762,000	–	60,000	–	0.45%	–
CLDPQ	New	CLOUD PEAK ENERGY INC	$1,227,000	–	335,110	–	0.20%	–
REN	Exit	RESOLUTE ENERGY CORP	$0	–	-39,700	–	-0.16%	–
CRK	Exit	COMSTOCK RES INC	$0	–	-462,438	–	-0.45%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-200,000	–	-0.75%	–
TECK	Exit	TECK RESOURCES LTDcl b	$0	–	-400,000	–	-0.96%	–
SND	Exit	SMART SAND INC	$0	–	-783,096	–	-0.97%	–
AKS	Exit	AK STL HLDG CORP	$0	–	-1,229,183	–	-1.12%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-300,000	–	-1.14%	–
SRUNU	Exit	SILVER RUN ACQUISITIONunit 99/99/9999	$0	–	-828,599	–	-1.23%	–
OKE	Exit	ONEOK INC NEW	$0	–	-248,982	–	-1.80%	–
VLO	Exit	VALERO ENERGY CORP NEWput	$0	–	-250,000	–	-2.34%	–
WPX	Exit	WPX ENERGY INCcall	$0	–	-2,324,900	–	-3.11%	–
ECA	Exit	ENCANA CORP	$0	–	-2,704,020	–	-3.30%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-1,042,492	–	-4.01%	–
IWM	Exit	ISHARES TRput	$0	–	-1,000,000	–	-19.54%	–

Q2 2017

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$140,920,000	–	1,000,000	–	19.54%	–
LPI	New	LAREDO PETROLEUM INC	$77,155,000	–	7,334,071	–	10.70%	–
WPX	New	WPX ENERGY INC	$54,482,000	–	5,640,010	–	7.55%	–
GPORQ	New	GULFPORT ENERGY CORP	$52,806,000	–	3,580,084	–	7.32%	–
XOGAQ	New	EXTRACTION OIL AND GAS INC	$45,976,000	–	3,418,331	–	6.37%	–
COG	New	CABOT OIL & GAS CORP	$33,491,000	–	1,335,341	–	4.64%	–
PUMP	New	PROPETRO HLDG CORP	$31,439,000	–	2,349,999	–	4.36%	–
PE	New	PARSLEY ENERGY INCcl a	$28,929,000	–	1,042,492	–	4.01%	–
REI	New	RING ENERGY INC	$27,720,000	–	2,132,330	–	3.84%	–
XEC	New	CIMAREX ENERGY CO	$24,008,000	–	255,377	–	3.33%	–
ECA	New	ENCANA CORP	$23,795,000	–	2,704,020	–	3.30%	–
WPX	New	WPX ENERGY INCcall	$22,458,000	–	2,324,900	–	3.11%	–
GLNG	New	GOLAR LNG LTD BERMUDA	$22,136,000	–	994,889	–	3.07%	–
CP	New	CANADIAN PAC RY LTD	$22,127,000	–	137,600	–	3.07%	–
VLO	New	VALERO ENERGY CORP NEWput	$16,865,000	–	250,000	–	2.34%	–
NCSM	New	NCS MULTISTAGE HLDGS INC	$14,479,000	–	575,000	–	2.01%	–
PTEN	New	PATTERSON UTI ENERGY INC	$13,703,000	–	678,712	–	1.90%	–
OKE	New	ONEOK INC NEW	$12,987,000	–	248,982	–	1.80%	–
SRUNU	New	SILVER RUN ACQUISITIONunit 99/99/9999	$8,851,000	–	828,599	–	1.23%	–
HFC	New	HOLLYFRONTIER CORP	$8,241,000	–	300,000	–	1.14%	–
AKS	New	AK STL HLDG CORP	$8,076,000	–	1,229,183	–	1.12%	–
SND	New	SMART SAND INC	$6,977,000	–	783,096	–	0.97%	–
TECK	New	TECK RESOURCES LTDcl b	$6,932,000	–	400,000	–	0.96%	–
AROC	New	ARCHROCK INC	$6,820,000	–	598,252	–	0.95%	–
FTI	New	TECHNIPFMC PLC	$5,440,000	–	200,000	–	0.75%	–
CRK	New	COMSTOCK RES INC	$3,270,000	–	462,438	–	0.45%	–
REN	New	RESOLUTE ENERGY CORP	$1,182,000	–	39,700	–	0.16%	–

Q4 2016

			Value		Shares		↓ Weighting
JONE	Exit	JONES ENERGY INC	$0	–	-127,357	–	-0.10%	–
LPI	Exit	LAREDO PETROLEUM INC	$0	–	-149,337	–	-0.40%	–
TECK	Exit	TECK RESOURCES LTDcl b	$0	–	-140,000	–	-0.52%	–
UNP	Exit	UNION PAC CORP	$0	–	-60,000	–	-1.22%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-29,900	–	-1.72%	–
SM	Exit	SM ENERGY CO	$0	–	-225,000	–	-1.81%	–
GLNG	Exit	GOLAR LNG LTD BERMUDA	$0	–	-425,000	–	-1.88%	–
RIG	Exit	TRANSOCEAN LTD	$0	–	-1,000,000	–	-2.22%	–
RES	Exit	RPC INC	$0	–	-674,107	–	-2.36%	–
FMSA	Exit	FAIRMOUNT SANTROL HLDGS INC	$0	–	-1,612,000	–	-2.85%	–
HES	Exit	HESS CORP	$0	–	-275,000	–	-3.07%	–
SWN	Exit	SOUTHWESTERN ENERGY CO	$0	–	-1,351,600	–	-3.89%	–
AR	Exit	ANTERO RES CORP	$0	–	-800,000	–	-4.49%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-166,366	–	-4.65%	–
QEP	Exit	QEP RES INC	$0	–	-1,160,000	–	-4.72%	–
SLCA	Exit	U S SILICA HLDGS INC	$0	–	-512,135	–	-4.96%	–
CRCQQ	Exit	CALIFORNIA RES CORP	$0	–	-2,000,000	–	-5.20%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-704,932	–	-5.24%	–
SRAQ	Exit	SILVER RUN ACQUISITION CORPcl a	$0	–	-1,770,593	–	-5.80%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-982,845	–	-6.86%	–
WPX	Exit	WPX ENERGY INC	$0	–	-2,568,948	–	-7.05%	–
APC	Exit	ANADARKO PETE CORP	$0	–	-654,963	–	-8.64%	–
CWEI	Exit	WILLIAMS CLAYTON ENERGY INC	$0	–	-495,447	–	-8.81%	–
HES	Exit	HESS CORPcall	$0	–	-1,033,400	–	-11.54%	–

Q3 2016

			Value		Shares		↓ Weighting
HES	New	HESS CORPcall	$55,411,000	–	1,033,400	–	11.54%	–
CWEI	Buy	WILLIAMS CLAYTON ENERGY INC	$42,331,000	+236.2%	495,447	+8.0%	8.81%	+136.1%
APC	Buy	ANADARKO PETE CORP	$41,499,000	+35.1%	654,963	+13.5%	8.64%	-5.2%
WPX	Buy	WPX ENERGY INC	$33,884,000	+65.4%	2,568,948	+16.8%	7.05%	+16.2%
PE	New	PARSLEY ENERGY INCcl a	$32,935,000	–	982,845	–	6.86%	–
SRAQ	New	SILVER RUN ACQUISITION CORPcl a	$27,887,000	–	1,770,593	–	5.80%	–
NBL	New	NOBLE ENERGY INC	$25,194,000	–	704,932	–	5.24%	–
CRCQQ	New	CALIFORNIA RES CORP	$25,000,000	–	2,000,000	–	5.20%	–
SLCA	Sell	U S SILICA HLDGS INC	$23,845,000	+10.3%	512,135	-18.3%	4.96%	-22.5%
QEP	Buy	QEP RES INC	$22,655,000	+60.6%	1,160,000	+45.0%	4.72%	+12.8%
XEC	Sell	CIMAREX ENERGY CO	$22,354,000	-15.3%	166,366	-24.8%	4.65%	-40.5%
AR	New	ANTERO RES CORP	$21,560,000	–	800,000	–	4.49%	–
SWN	New	SOUTHWESTERN ENERGY CO	$18,706,000	–	1,351,600	–	3.89%	–
HES	New	HESS CORP	$14,745,000	–	275,000	–	3.07%	–
FMSA	Buy	FAIRMOUNT SANTROL HLDGS INC	$13,670,000	+25.9%	1,612,000	+14.5%	2.85%	-11.6%
RES	New	RPC INC	$11,325,000	–	674,107	–	2.36%	–
RIG	New	TRANSOCEAN LTD	$10,660,000	–	1,000,000	–	2.22%	–
GLNG	New	GOLAR LNG LTD BERMUDA	$9,010,000	–	425,000	–	1.88%	–
SM	New	SM ENERGY CO	$8,681,000	–	225,000	–	1.81%	–
UNP	New	UNION PAC CORP	$5,852,000	–	60,000	–	1.22%	–
TECK	Sell	TECK RESOURCES LTDcl b	$2,524,000	-32.6%	140,000	-50.8%	0.52%	-52.7%
LPI	New	LAREDO PETROLEUM INC	$1,927,000	–	149,337	–	0.40%	–
JONE	New	JONES ENERGY INC	$454,000	–	127,357	–	0.10%	–
ICD	Exit	INDEPENDENCE CONTRACT DRIL I	$0	–	-585,206	–	-0.94%	–
RICE	Exit	RICE ENERGY INC	$0	–	-250,000	–	-1.63%	–
NSC	Exit	NORFOLK SOUTHERN CORP	$0	–	-65,000	–	-1.64%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-100,000	–	-1.75%	–
SRAQU	Exit	SILVER RUN ACQUISITION CORPunit 99/99/9999t	$0	–	-674,085	–	-2.00%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-450,000	–	-2.00%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-225,000	–	-2.09%	–
ECR	Exit	ECLIPSE RES CORP	$0	–	-2,200,000	–	-2.18%	–
SPNV	Exit	SUPERIOR ENERGY SVCS INC	$0	–	-400,000	–	-2.18%	–
APA	Exit	APACHE CORP	$0	–	-300,000	–	-4.95%	–
CXO	Exit	CONCHO RES INC	$0	–	-142,496	–	-5.04%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-630,000	–	-5.84%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-5,227,736	–	-6.63%	–
NFX	Exit	NEWFIELD EXPL CO	$0	–	-600,000	–	-7.86%	–
EGN	Exit	ENERGEN CORP	$0	–	-630,153	–	-9.01%	–

Q2 2016

			Value		Shares		↓ Weighting
APC	New	ANADARKO PETE CORP	$30,727,000	–	577,035	–	9.11%	–
EGN	New	ENERGEN CORP	$30,380,000	–	630,153	–	9.01%	–
NFX	New	NEWFIELD EXPL CO	$26,508,000	–	600,000	–	7.86%	–
XEC	New	CIMAREX ENERGY CO	$26,383,000	–	221,106	–	7.82%	–
CHK	New	CHESAPEAKE ENERGY CORP	$22,374,000	–	5,227,736	–	6.63%	–
SLCA	New	U S SILICA HLDGS INC	$21,618,000	–	627,135	–	6.41%	–
WPX	New	WPX ENERGY INC	$20,482,000	–	2,200,000	–	6.07%	–
GPORQ	New	GULFPORT ENERGY CORP	$19,694,000	–	630,000	–	5.84%	–
CXO	New	CONCHO RES INC	$16,995,000	–	142,496	–	5.04%	–
APA	New	APACHE CORP	$16,701,000	–	300,000	–	4.95%	–
QEP	New	QEP RES INC	$14,104,000	–	800,000	–	4.18%	–
CWEI	New	WILLIAMS CLAYTON ENERGY INC	$12,592,000	–	458,545	–	3.73%	–
FMSA	New	FAIRMOUNT SANTROL HLDGS INC	$10,855,000	–	1,407,796	–	3.22%	–
SHW	New	SHERWIN WILLIAMS CO	$8,781,000	–	29,900	–	2.60%	–
SPNV	New	SUPERIOR ENERGY SVCS INC	$7,364,000	–	400,000	–	2.18%	–
ECR	New	ECLIPSE RES CORP	$7,348,000	–	2,200,000	–	2.18%	–
RIO	New	RIO TINTO PLCsponsored adr	$7,043,000	–	225,000	–	2.09%	–
MRO	New	MARATHON OIL CORP	$6,755,000	–	450,000	–	2.00%	–
SRAQU	New	SILVER RUN ACQUISITION CORPunit 99/99/9999t	$6,728,000	–	674,085	–	2.00%	–
CNI	New	CANADIAN NATL RY CO	$5,906,000	–	100,000	–	1.75%	–
NSC	New	NORFOLK SOUTHERN CORP	$5,533,000	–	65,000	–	1.64%	–
RICE	New	RICE ENERGY INC	$5,510,000	–	250,000	–	1.63%	–
TECK	New	TECK RESOURCES LTDcl b	$3,747,000	–	284,500	–	1.11%	–
ICD	New	INDEPENDENCE CONTRACT DRIL I	$3,178,000	–	585,206	–	0.94%	–

Q4 2015

			Value		Shares		↓ Weighting
IOC	Exit	INTEROIL CORP	$0	–	-150,000	–	-0.94%	–
RIG	Exit	TRANSOCEAN LTD	$0	–	-462,700	–	-1.11%	–
FTK	Exit	FLOTEK INDS INC DEL	$0	–	-426,300	–	-1.32%	–
GRA	Exit	GRACE W R & CO DEL NEW	$0	–	-79,035	–	-1.37%	–
GNRT	Exit	GENER8 MARITIME INC	$0	–	-697,234	–	-1.42%	–
FTI	Exit	FMC TECHNOLOGIES INC	$0	–	-255,600	–	-1.47%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-178,000	–	-1.48%	–
TNK	Exit	TEEKAY TANKERS LTDcl a	$0	–	-1,283,486	–	-1.65%	–
CAM	Exit	CAMERON INTERNATIONAL CORP	$0	–	-162,500	–	-1.85%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-70,000	–	-1.87%	–
RICE	Exit	RICE ENERGY INC	$0	–	-624,359	–	-1.88%	–
EXH	Exit	EXTERRAN HLDGS INC	$0	–	-614,523	–	-2.06%	–
NEBLQ	Exit	NOBLE CORP PLC	$0	–	-1,019,827	–	-2.07%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-120,600	–	-2.30%	–
GLNG	Exit	GOLAR LNG LTD BERMUDA	$0	–	-500,000	–	-2.59%	–
EPEGQ	Exit	EP ENERGY CORPcl a	$0	–	-3,102,600	–	-2.97%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-784,388	–	-3.19%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-310,800	–	-3.73%	–
EGN	Exit	ENERGEN CORP	$0	–	-454,326	–	-4.21%	–
SWN	Exit	SOUTHWESTERN ENERGY CO	$0	–	-1,798,058	–	-4.24%	–
LPI	Exit	LAREDO PETROLEUM INC	$0	–	-2,420,600	–	-4.24%	–
MRD	Exit	MEMORIAL RESOURCE DEV CORP	$0	–	-1,445,808	–	-4.72%	–
CXO	Exit	CONCHO RES INC	$0	–	-287,573	–	-5.25%	–
NFX	Exit	NEWFIELD EXPL CO	$0	–	-1,000,578	–	-6.12%	–
ECA	Exit	ENCANA CORP	$0	–	-5,238,336	–	-6.27%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-2,244,600	–	-6.42%	–
EOG	Exit	EOG RES INC	$0	–	-499,000	–	-6.75%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-1,274,075	–	-6.86%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-786,161	–	-9.66%	–

Q3 2015

			Value		Shares		↓ Weighting
OXY	Buy	OCCIDENTAL PETE CORP DEL	$52,004,000	+254.9%	786,161	+317.2%	9.66%	+211.9%
CLR	Buy	CONTINENTAL RESOURCES INC	$36,910,000	+17.0%	1,274,075	+71.2%	6.86%	+2.8%
EOG	New	EOG RES INC	$36,327,000	–	499,000	–	6.75%	–
MRO	New	MARATHON OIL CORP	$34,566,000	–	2,244,600	–	6.42%	–
ECA	New	ENCANA CORP	$33,734,000	–	5,238,336	–	6.27%	–
NFX	Sell	NEWFIELD EXPL CO	$32,919,000	-13.4%	1,000,578	-4.9%	6.12%	-23.9%
CXO	New	CONCHO RES INC	$28,268,000	–	287,573	–	5.25%	–
MRD	Buy	MEMORIAL RESOURCE DEV CORP	$25,417,000	+15.3%	1,445,808	+24.4%	4.72%	+1.3%
LPI	New	LAREDO PETROLEUM INC	$22,826,000	–	2,420,600	–	4.24%	–
SWN	New	SOUTHWESTERN ENERGY CO	$22,818,000	–	1,798,058	–	4.24%	–
EGN	Sell	ENERGEN CORP	$22,653,000	-56.6%	454,326	-40.5%	4.21%	-61.8%
FANG	New	DIAMONDBACK ENERGY INC	$20,078,000	–	310,800	–	3.73%	–
COG	New	CABOT OIL & GAS CORP	$17,147,000	–	784,388	–	3.19%	–
EPEGQ	New	EP ENERGY CORPcl a	$15,978,000	–	3,102,600	–	2.97%	–
GLNG	Buy	GOLAR LNG LTD BERMUDA	$13,940,000	+10.0%	500,000	+84.6%	2.59%	-3.4%
XEC	Sell	CIMAREX ENERGY CO	$12,359,000	-56.8%	120,600	-53.5%	2.30%	-62.1%
NEBLQ	New	NOBLE CORP PLC	$11,126,000	–	1,019,827	–	2.07%	–
EXH	Sell	EXTERRAN HLDGS INC	$11,061,000	-46.8%	614,523	-3.5%	2.06%	-53.3%
RICE	Sell	RICE ENERGY INC	$10,090,000	-42.7%	624,359	-26.2%	1.88%	-49.7%
CP	New	CANADIAN PAC RY LTD	$10,050,000	–	70,000	–	1.87%	–
CAM	New	CAMERON INTERNATIONAL CORP	$9,965,000	–	162,500	–	1.85%	–
TNK	Buy	TEEKAY TANKERS LTDcl a	$8,856,000	+4.5%	1,283,486	+0.1%	1.65%	-8.1%
CF	New	CF INDS HLDGS INC	$7,992,000	–	178,000	–	1.48%	–
FTI	Sell	FMC TECHNOLOGIES INC	$7,924,000	-61.2%	255,600	-48.0%	1.47%	-65.9%
GNRT	Sell	GENER8 MARITIME INC	$7,635,000	-57.7%	697,234	-47.4%	1.42%	-62.8%
GRA	New	GRACE W R & CO DEL NEW	$7,354,000	–	79,035	–	1.37%	–
FTK	New	FLOTEK INDS INC DEL	$7,119,000	–	426,300	–	1.32%	–
RIG	New	TRANSOCEAN LTD	$5,978,000	–	462,700	–	1.11%	–
IOC	New	INTEROIL CORP	$5,056,000	–	150,000	–	0.94%	–
CRRTQ	Exit	CARBO CERAMICS INC	$0	–	-49,828	–	-0.44%	–
ORIG	Exit	OCEAN RIG UDW INC	$0	–	-617,700	–	-0.67%	–
PWR	Exit	QUANTA SVCS INC	$0	–	-136,500	–	-0.83%	–
CVEO	Exit	CIVEO CORP	$0	–	-1,412,149	–	-0.92%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-125,000	–	-1.63%	–
KOS	Exit	KOSMOS ENERGY LTDcall	$0	–	-1,000,000	–	-1.78%	–
FET	Exit	FORUM ENERGY TECHNOLOGIES IN	$0	–	-422,946	–	-1.81%	–
VLO	Exit	VALERO ENERGY CORP NEW	$0	–	-155,700	–	-2.06%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-282,930	–	-2.55%	–
ECR	Exit	ECLIPSE RES CORP	$0	–	-2,773,986	–	-3.08%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-350,000	–	-3.16%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-340,187	–	-3.86%	–
MTDR	Exit	MATADOR RES CO	$0	–	-733,800	–	-3.88%	–
SLCA	Exit	U S SILICA HLDGS INC	$0	–	-630,800	–	-3.92%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-142,400	–	-4.18%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-1,347,413	–	-4.96%	–

Q2 2015

			Value		Shares		↓ Weighting
EGN	New	ENERGEN CORP	$52,166,000	–	763,769	–	11.03%	–
NFX	New	NEWFIELD EXPL CO	$38,019,000	–	1,052,586	–	8.04%	–
CLR	New	CONTINENTAL RESOURCES INC	$31,545,000	–	744,162	–	6.67%	–
XEC	New	CIMAREX ENERGY CO	$28,635,000	–	259,586	–	6.05%	–
PE	New	PARSLEY ENERGY INCcl a	$23,472,000	–	1,347,413	–	4.96%	–
MRD	New	MEMORIAL RESOURCE DEV CORP	$22,046,000	–	1,162,152	–	4.66%	–
EXH	New	EXTERRAN HLDGS INC	$20,799,000	–	637,036	–	4.40%	–
FTI	New	FMC TECHNOLOGIES INC	$20,401,000	–	491,700	–	4.31%	–
PXD	New	PIONEER NAT RES CO	$19,750,000	–	142,400	–	4.18%	–
SLCA	New	U S SILICA HLDGS INC	$18,520,000	–	630,800	–	3.92%	–
MTDR	New	MATADOR RES CO	$18,345,000	–	733,800	–	3.88%	–
PDCE	New	PDC ENERGY INC	$18,248,000	–	340,187	–	3.86%	–
GNRT	New	GENER8 MARITIME INC	$18,060,000	–	1,325,000	–	3.82%	–
RICE	New	RICE ENERGY INC	$17,623,000	–	846,022	–	3.73%	–
HFC	New	HOLLYFRONTIER CORP	$14,942,000	–	350,000	–	3.16%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$14,655,000	–	188,441	–	3.10%	–
ECR	New	ECLIPSE RES CORP	$14,592,000	–	2,773,986	–	3.08%	–
GLNG	New	GOLAR LNG LTD BERMUDA	$12,678,000	–	270,895	–	2.68%	–
NBL	New	NOBLE ENERGY INC	$12,075,000	–	282,930	–	2.55%	–
VLO	New	VALERO ENERGY CORP NEW	$9,747,000	–	155,700	–	2.06%	–
FET	New	FORUM ENERGY TECHNOLOGIES IN	$8,577,000	–	422,946	–	1.81%	–
TNK	New	TEEKAY TANKERS LTDcl a	$8,471,000	–	1,281,600	–	1.79%	–
KOS	New	KOSMOS ENERGY LTDcall	$8,430,000	–	1,000,000	–	1.78%	–
BHI	New	BAKER HUGHES INC	$7,713,000	–	125,000	–	1.63%	–
CVEO	New	CIVEO CORP	$4,335,000	–	1,412,149	–	0.92%	–
PWR	New	QUANTA SVCS INC	$3,934,000	–	136,500	–	0.83%	–
ORIG	New	OCEAN RIG UDW INC	$3,169,000	–	617,700	–	0.67%	–
CRRTQ	New	CARBO CERAMICS INC	$2,074,000	–	49,828	–	0.44%	–

Q4 2014

			Value		Shares		↓ Weighting
BCEI	Exit	BONANZA CREEK ENERGY INC	$0	–	-83,288	–	-1.14%	–
MT	Exit	ARCELORMITTAL SA LUXEMBOURGny registry sh	$0	–	-469,800	–	-1.54%	–
ROSE	Exit	ROSETTA RESOURCES INC	$0	–	-155,300	–	-1.66%	–
TRN	Exit	TRINITY INDS INC	$0	–	-150,000	–	-1.68%	–
ALJ	Exit	ALON USA ENERGY INC	$0	–	-523,627	–	-1.80%	–
SFYWQ	Exit	SWIFT ENERGY CO	$0	–	-785,900	–	-1.81%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-106,744	–	-1.92%	–
NFX	Exit	NEWFIELD EXPL COcall	$0	–	-250,000	–	-2.22%	–
D	Exit	DOMINION RES INC VA NEW	$0	–	-141,100	–	-2.34%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-157,644	–	-2.51%	–
PTEN	Exit	PATTERSON UTI ENERGY INC	$0	–	-338,000	–	-2.64%	–
BAS	Exit	BASIC ENERGY SVCS INC NEW	$0	–	-564,900	–	-2.94%	–
WPX	Exit	WPX ENERGY INC	$0	–	-538,445	–	-3.11%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-108,000	–	-3.28%	–
RICE	Exit	RICE ENERGY INC	$0	–	-549,411	–	-3.51%	–
WFTIQ	Exit	WEATHERFORD INTL PLC	$0	–	-707,200	–	-3.53%	–
RES	Exit	RPC INC	$0	–	-738,223	–	-3.89%	–
HES	Exit	HESS CORP	$0	–	-174,900	–	-3.96%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-337,800	–	-4.08%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-183,200	–	-4.23%	–
MRD	Exit	MEMORIAL RESOURCE DEV CORP	$0	–	-693,252	–	-4.51%	–
BBG	Exit	BARRETT BILL CORP	$0	–	-890,200	–	-4.71%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-304,300	–	-4.75%	–
EGN	Exit	ENERGEN CORP	$0	–	-275,100	–	-4.77%	–
MHRCQ	Exit	MAGNUM HUNTER RES CORP DEL	$0	–	-4,766,902	–	-6.37%	–
NFX	Exit	NEWFIELD EXPL CO	$0	–	-736,900	–	-6.55%	–
APC	Exit	ANADARKO PETE CORP	$0	–	-273,920	–	-6.67%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-875,606	–	-7.90%	–

Q3 2014

			Value		Shares		↓ Weighting
MRO	Buy	MARATHON OIL CORP	$32,914,000	+33.9%	875,606	+42.2%	7.90%	+11.9%
APC	New	ANADARKO PETE CORP	$27,786,000	–	273,920	–	6.67%	–
NFX	New	NEWFIELD EXPL CO	$27,317,000	–	736,900	–	6.55%	–
MHRCQ	Buy	MAGNUM HUNTER RES CORP DEL	$26,551,000	+1453.6%	4,766,902	+2187.7%	6.37%	+1197.4%
EGN	New	ENERGEN CORP	$19,874,000	–	275,100	–	4.77%	–
BHI	New	BAKER HUGHES INC	$19,798,000	–	304,300	–	4.75%	–
BBG	Buy	BARRETT BILL CORP	$19,620,000	+84.0%	890,200	+123.6%	4.71%	+53.8%
MRD	Buy	MEMORIAL RESOURCE DEV CORP	$18,795,000	+50.4%	693,252	+35.1%	4.51%	+25.7%
OXY	New	OCCIDENTAL PETE CORP DEL	$17,615,000	–	183,200	–	4.23%	–
PDCE	New	PDC ENERGY INC	$16,988,000	–	337,800	–	4.08%	–
HES	New	HESS CORP	$16,497,000	–	174,900	–	3.96%	–
RES	Sell	RPC INC	$16,211,000	-20.8%	738,223	-15.2%	3.89%	-33.8%
WFTIQ	New	WEATHERFORD INTL PLC	$14,710,000	–	707,200	–	3.53%	–
RICE	New	RICE ENERGY INC	$14,614,000	–	549,411	–	3.51%	–
XEC	Sell	CIMAREX ENERGY CO	$13,666,000	-49.7%	108,000	-42.9%	3.28%	-57.9%
WPX	Sell	WPX ENERGY INC	$12,955,000	-51.3%	538,445	-51.6%	3.11%	-59.3%
BAS	Buy	BASIC ENERGY SVCS INC NEW	$12,253,000	+28.2%	564,900	+72.8%	2.94%	+7.2%
CLR	New	CONTINENTAL RESOURCES INC	$10,480,000	–	157,644	–	2.51%	–
D	New	DOMINION RES INC VA NEW	$9,749,000	–	141,100	–	2.34%	–
NFX	New	NEWFIELD EXPL COcall	$9,267,000	–	250,000	–	2.22%	–
FANG	New	DIAMONDBACK ENERGY INC	$7,982,000	–	106,744	–	1.92%	–
SFYWQ	New	SWIFT ENERGY CO	$7,545,000	–	785,900	–	1.81%	–
ALJ	New	ALON USA ENERGY INC	$7,519,000	–	523,627	–	1.80%	–
TRN	New	TRINITY INDS INC	$7,008,000	–	150,000	–	1.68%	–
ROSE	New	ROSETTA RESOURCES INC	$6,921,000	–	155,300	–	1.66%	–
MT	New	ARCELORMITTAL SA LUXEMBOURGny registry sh	$6,432,000	–	469,800	–	1.54%	–
BCEI	New	BONANZA CREEK ENERGY INC	$4,740,000	–	83,288	–	1.14%	–
TSO	Exit	TESORO CORP	$0	–	-68,600	–	-1.16%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-62,200	–	-1.16%	–
CRK	Exit	COMSTOCK RES INC	$0	–	-283,176	–	-2.34%	–
ATHL	Exit	ATHLON ENERGY INC	$0	–	-226,400	–	-3.10%	–
AR	Exit	ANTERO RES CORP	$0	–	-182,000	–	-3.43%	–
FTI	Exit	FMC TECHNOLOGIES INC	$0	–	-212,768	–	-3.73%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-166,800	–	-3.80%	–
SWN	Exit	SOUTHWESTERN ENERGY CO	$0	–	-395,400	–	-5.16%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-779,950	–	-5.39%	–
CRRTQ	Exit	CARBO CERAMICS INC	$0	–	-201,000	–	-8.89%	–
APA	Exit	APACHE CORPput	$0	–	-700,000	–	-20.22%	–

Q2 2014

			Value		Shares		↓ Weighting
APA	New	APACHE CORPput	$70,434,000	–	700,000	–	20.22%	–
CRRTQ	New	CARBO CERAMICS INC	$30,978,000	–	201,000	–	8.89%	–
XEC	New	CIMAREX ENERGY CO	$27,155,000	–	189,289	–	7.79%	–
WPX	New	WPX ENERGY INC	$26,593,000	–	1,112,223	–	7.63%	–
MRO	New	MARATHON OIL CORP	$24,581,000	–	615,752	–	7.06%	–
RES	New	RPC INC	$20,460,000	–	871,000	–	5.87%	–
PE	New	PARSLEY ENERGY INCcl a	$18,773,000	–	779,950	–	5.39%	–
SWN	New	SOUTHWESTERN ENERGY CO	$17,987,000	–	395,400	–	5.16%	–
DVN	New	DEVON ENERGY CORP NEW	$13,244,000	–	166,800	–	3.80%	–
FTI	New	FMC TECHNOLOGIES INC	$12,994,000	–	212,768	–	3.73%	–
MRD	New	MEMORIAL RESOURCE DEV CORP	$12,497,000	–	513,000	–	3.59%	–
AR	New	ANTERO RES CORP	$11,945,000	–	182,000	–	3.43%	–
PTEN	New	PATTERSON UTI ENERGY INC	$11,810,000	–	338,000	–	3.39%	–
ATHL	New	ATHLON ENERGY INC	$10,799,000	–	226,400	–	3.10%	–
BBG	New	BARRETT BILL CORP	$10,662,000	–	398,115	–	3.06%	–
BAS	New	BASIC ENERGY SVCS INC NEW	$9,555,000	–	327,000	–	2.74%	–
CRK	New	COMSTOCK RES INC	$8,167,000	–	283,176	–	2.34%	–
CNI	New	CANADIAN NATL RY CO	$4,044,000	–	62,200	–	1.16%	–
TSO	New	TESORO CORP	$4,025,000	–	68,600	–	1.16%	–
MHRCQ	New	MAGNUM HUNTER RES CORP DEL	$1,709,000	–	208,368	–	0.49%	–

Q4 2013

			Value		Shares		↓ Weighting
ZAZA	Exit	ZAZA ENERGY CORP	$0	–	-475,200	–	-0.07%	–
SLCA	Exit	U S SILICA HLDGS INC	$0	–	-369,994	–	-1.22%	–
MHRCQ	Exit	MAGNUM HUNTER RES CORP DEL	$0	–	-1,574,402	–	-1.28%	–
WTI	Exit	W & T OFFSHORE INC	$0	–	-673,500	–	-1.57%	–
TS	Exit	TENARIS S Asponsored adr	$0	–	-261,190	–	-1.61%	–
HAL	Exit	HALLIBURTON CO	$0	–	-364,391	–	-2.31%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-478,514	–	-3.76%	–
EOG	Exit	EOG RES INC	$0	–	-221,149	–	-4.94%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-654,072	–	-4.98%	–
FTI	Exit	FMC TECHNOLOGIES INC	$0	–	-711,171	–	-5.20%	–
EGN	Exit	ENERGEN CORP	$0	–	-518,744	–	-5.23%	–
CIE	Exit	COBALT INTL ENERGY INCcall	$0	–	-1,950,000	–	-6.39%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-851,854	–	-6.72%	–
BRSWQ	Exit	BRISTOW GROUP INC	$0	–	-720,585	–	-6.92%	–
EQT	Exit	EQT CORP	$0	–	-604,475	–	-7.07%	–
DRQ	Exit	DRIL-QUIP INC	$0	–	-473,319	–	-7.16%	–
DVN	Exit	DEVON ENERGY CORP NEWcall	$0	–	-971,000	–	-7.40%	–
LPI	Exit	LAREDO PETE HLDGS INC	$0	–	-1,895,048	–	-7.42%	–
WNR	Exit	WESTERN REFNG INC	$0	–	-2,308,239	–	-9.14%	–
HES	Exit	HESS CORP	$0	–	-941,200	–	-9.60%	–

Q3 2013

			Value		Shares		↓ Weighting
HES	New	HESS CORP	$72,792,000	–	941,200	–	9.60%	–
WNR	Buy	WESTERN REFNG INC	$69,339,000	+48.7%	2,308,239	+39.0%	9.14%	+59.8%
LPI	New	LAREDO PETE HLDGS INC	$56,245,000	–	1,895,048	–	7.42%	–
DVN	New	DEVON ENERGY CORP NEWcall	$56,085,000	–	971,000	–	7.40%	–
DRQ	Buy	DRIL-QUIP INC	$54,313,000	+30.9%	473,319	+3.0%	7.16%	+40.6%
EQT	Sell	EQT CORP	$53,629,000	-42.2%	604,475	-48.3%	7.07%	-37.9%
BRSWQ	Buy	BRISTOW GROUP INC	$52,429,000	+114.4%	720,585	+92.4%	6.92%	+130.3%
WLL	New	WHITING PETE CORP NEW	$50,983,000	–	851,854	–	6.72%	–
CIE	Sell	COBALT INTL ENERGY INCcall	$48,477,000	-27.0%	1,950,000	-22.0%	6.39%	-21.6%
EGN	New	ENERGEN CORP	$39,627,000	–	518,744	–	5.23%	–
FTI	Buy	FMC TECHNOLOGIES INC	$39,413,000	+141.5%	711,171	+142.6%	5.20%	+159.5%
DVN	New	DEVON ENERGY CORP NEW	$37,779,000	–	654,072	–	4.98%	–
EOG	Sell	EOG RES INC	$37,436,000	-54.1%	221,149	-64.3%	4.94%	-50.7%
PDCE	New	PDC ENERGY INC	$28,490,000	–	478,514	–	3.76%	–
HAL	New	HALLIBURTON CO	$17,545,000	–	364,391	–	2.31%	–
TS	New	TENARIS S Asponsored adr	$12,218,000	–	261,190	–	1.61%	–
WTI	New	W & T OFFSHORE INC	$11,935,000	–	673,500	–	1.57%	–
MHRCQ	New	MAGNUM HUNTER RES CORP DEL	$9,715,000	–	1,574,402	–	1.28%	–
SLCA	New	U S SILICA HLDGS INC	$9,212,000	–	369,994	–	1.22%	–
ZAZA	Sell	ZAZA ENERGY CORP	$547,000	-90.3%	475,200	-89.9%	0.07%	-89.6%
IWM	Exit	ISHARES TRrussell 2000	$0	–	-14,300	–	-0.17%	–
OASPQ	Exit	OASIS PETE INC NEW	$0	–	-136,721	–	-0.65%	–
CRRTQ	Exit	CARBO CERAMICS INC	$0	–	-140,700	–	-1.16%	–
HEROQ	Exit	HERCULES OFFSHORE INC	$0	–	-1,414,715	–	-1.22%	–
SPNV	Exit	SUPERIOR ENERGY SVCS INC	$0	–	-445,309	–	-1.42%	–
SDOCQ	Exit	SANDRIDGE ENERGY INC	$0	–	-2,746,660	–	-1.60%	–
HLX	Exit	HELIX ENERGY SOLUTIONS GRP I	$0	–	-664,267	–	-1.88%	–
EXH	Exit	EXTERRAN HLDGS INC	$0	–	-1,079,230	–	-3.72%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-662,600	–	-3.75%	–
CBI	Exit	CHICAGO BRIDGE & IRON CO N Vn y registry sh	$0	–	-552,966	–	-4.05%	–
QEP	Exit	QEP RES INC	$0	–	-1,365,688	–	-4.66%	–
IWM	Exit	ISHARES TRput	$0	–	-400,000	–	-4.77%	–
KOG	Exit	KODIAK OIL & GAS CORP	$0	–	-4,395,543	–	-4.80%	–
KOS	Exit	KOSMOS ENERGY LTD	$0	–	-4,188,510	–	-5.22%	–
APC	Exit	ANADARKO PETE CORP	$0	–	-659,415	–	-6.96%	–
WPX	Exit	WPX ENERGY INC	$0	–	-3,387,345	–	-7.88%	–

Q2 2013

			Value		Shares		↓ Weighting
EQT	New	EQT CORP	$92,844,000	–	1,169,759	–	11.40%	–
EOG	New	EOG RES INC	$81,574,000	–	619,489	–	10.01%	–
CIE	New	COBALT INTL ENERGY INCcall	$66,425,000	–	2,500,000	–	8.15%	–
WPX	New	WPX ENERGY INC	$64,156,000	–	3,387,345	–	7.88%	–
APC	New	ANADARKO PETE CORP	$56,663,000	–	659,415	–	6.96%	–
WNR	New	WESTERN REFNG INC	$46,627,000	–	1,661,100	–	5.72%	–
KOS	New	KOSMOS ENERGY LTD	$42,555,000	–	4,188,510	–	5.22%	–
DRQ	New	DRIL-QUIP INC	$41,488,000	–	459,500	–	5.09%	–
KOG	New	KODIAK OIL & GAS CORP	$39,076,000	–	4,395,543	–	4.80%	–
IWM	New	ISHARES TRput	$38,864,000	–	400,000	–	4.77%	–
QEP	New	QEP RES INC	$37,939,000	–	1,365,688	–	4.66%	–
CBI	New	CHICAGO BRIDGE & IRON CO N Vn y registry sh	$32,989,000	–	552,966	–	4.05%	–
BHI	New	BAKER HUGHES INC	$30,566,000	–	662,600	–	3.75%	–
EXH	New	EXTERRAN HLDGS INC	$30,348,000	–	1,079,230	–	3.72%	–
BRSWQ	New	BRISTOW GROUP INC	$24,458,000	–	374,428	–	3.00%	–
FTI	New	FMC TECHNOLOGIES INC	$16,320,000	–	293,107	–	2.00%	–
HLX	New	HELIX ENERGY SOLUTIONS GRP I	$15,305,000	–	664,267	–	1.88%	–
SDOCQ	New	SANDRIDGE ENERGY INC	$13,074,000	–	2,746,660	–	1.60%	–
SPNV	New	SUPERIOR ENERGY SVCS INC	$11,551,000	–	445,309	–	1.42%	–
HEROQ	New	HERCULES OFFSHORE INC	$9,960,000	–	1,414,715	–	1.22%	–
CRRTQ	New	CARBO CERAMICS INC	$9,488,000	–	140,700	–	1.16%	–
ZAZA	New	ZAZA ENERGY CORP	$5,633,000	–	4,694,778	–	0.69%	–
OASPQ	New	OASIS PETE INC NEW	$5,314,000	–	136,721	–	0.65%	–
IWM	New	ISHARES TRrussell 2000	$1,389,000	–	14,300	–	0.17%	–

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