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
Expires: July 31, 2015
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
ADECOAGRO S A COM L00849106 3,028,305 317,100 SH SOLE 317,100 0 0
ANTERO RESOURCES CORP COM 03674X106 8,749,860 249,000 SH SOLE 249,000 0 0
CANADIAN NAT RES LTD MED TER COM 136385101 11,834,200 299,600 SH SOLE 299,600 0 0
CENOVUS ENERGY INC COM 15135U109 12,588,594 507,400 SH SOLE 507,400 0 0
CENTERRA GOLD INC COM 152006102 14,589,614 919,900 SH SOLE 919,900 0 0
CF INDUSTRIES HOLD COM 125269100 14,333,624 132,400 SH SOLE 132,400 0 0
CHEVRON CORPORATION COM 166764100 14,802,368 89,300 SH SOLE 89,300 0 0
CONOCOPHILLIPS COM 20825C104 15,126,180 145,500 SH SOLE 145,500 0 0
CORECIVIC INC COM 21871N101 4,900,294 161,300 SH SOLE 161,300 0 0
CORTEVA INC COM 22052L104 3,158,937 37,300 SH SOLE 37,300 0 0
EXXON MOBIL CORP COM 30231G102 12,140,736 88,800 SH SOLE 88,800 0 0
FRANCO NEV CORP COM 351858105 1,563,300 7,500 SH SOLE 7,500 0 0
HUNTSMAN CORP COM 447011107 9,467,730 891,500 SH SOLE 891,500 0 0
INVESCO DB MULTI-SECTOR COMM AGRICULTURE FD 46140H106 17,223,486 645,800 SH SOLE 645,800 0 0
OLIN CORP COM PAR $1 680665205 2,687,592 135,600 SH SOLE 135,600 0 0
PETROLEO BRASILEIRO S A SPONSORED ADR 71654V408 13,359,472 826,700 SH SOLE 826,700 0 0
ROYAL GOLD INC COM 780287108 1,517,036 7,600 SH SOLE 7,600 0 0
TERRA INNOVATUM GLOBAL NV ORD SHS N85083108 1,329,876 270,300 SH SOLE 270,300 0 0
TEUCRIUM COMMODITY TR CORN FD SHS 88166A102 11,584,300 691,600 SH SOLE 691,600 0 0
TEUCRIUM COMMODITY TR SUGAR FD 88166A409 9,461,056 966,400 SH SOLE 966,400 0 0
TEUCRIUM COMMODITY TR WHEAT FD 88166A870 14,508,958 658,600 SH SOLE 658,600 0 0
TREKOR METALS LTD COM 89472Y107 12,594,528 1,830,600 SH SOLE 1,830,600 0 0
VIPER ENERGY INC CL A 64361Q101 13,313,600 314,000 SH SOLE 314,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 1,516,320 13,500 SH SOLE 13,500 0 0