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 8,567,286 844,900 SH SOLE 844,900 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 10,017,756 126,200 SH SOLE 126,200 0 0
BUNGE GLOBAL SA COM SHS H11356104 9,283,260 86,800 SH SOLE 86,800 0 0
CANADIAN NAT RES LTD MED TER COM 136385101 17,189,964 365,200 SH SOLE 365,200 0 0
CENOVUS ENERGY INC COM 15135U109 17,712,492 569,900 SH SOLE 569,900 0 0
CENTERRA GOLD INC COM 152006102 20,675,754 949,300 SH SOLE 949,300 0 0
CF INDUSTRIES HOLD COM 125269100 15,736,320 136,600 SH SOLE 136,600 0 0
CHEVRON CORPORATION COM 166764100 18,807,741 92,100 SH SOLE 92,100 0 0
CONOCOPHILLIPS COM 20825C104 18,785,015 150,100 SH SOLE 150,100 0 0
EXXONMOBIL HOLDINGS CORP COM SHS 30233Q108 18,276,825 112,300 SH SOLE 112,300 0 0
FRANCO NEV CORP COM 351858105 3,357,351 14,100 SH SOLE 14,100 0 0
GEOPARK LTD USD SHS G38327105 3,426,555 327,900 SH SOLE 327,900 0 0
HUNTSMAN CORP COM 447011107 9,398,760 1,118,900 SH SOLE 1,118,900 0 0
INVESCO DB MULTI-SECTOR COMM AGRICULTURE FD 46140H106 18,752,496 666,400 SH SOLE 666,400 0 0
NUTRIEN LTD COM 67077M108 16,614,125 236,500 SH SOLE 236,500 0 0
PETROLEO BRASILEIRO S A SPONSORED ADR 71654V408 18,628,562 892,600 SH SOLE 892,600 0 0
ROYAL GOLD INC COM 780287108 3,374,800 14,300 SH SOLE 14,300 0 0
SPACE EXPLORATION TECHN CORP CLASS A COM STK 84615Q103 1,780,148 11,800 SH SOLE 11,800 0 0
SYMBOTIC INC CLASS A COM 87151X101 1,989,911 47,300 SH SOLE 47,300 0 0
TERRA INNOVATUM GLOBAL NV ORD SHS N85083108 944,115 278,500 SH SOLE 278,500 0 0
TEUCRIUM COMMODITY TR CORN FD SHS 88166A102 3,299,632 173,300 SH SOLE 173,300 0 0
TEUCRIUM COMMODITY TR SUGAR FD 88166A409 3,552,530 315,500 SH SOLE 315,500 0 0
TEUCRIUM COMMODITY TR WHEAT FD 88166A870 16,697,772 679,600 SH SOLE 679,600 0 0
TREKOR METALS LTD COM 89472Y107 16,833,663 1,889,300 SH SOLE 1,889,300 0 0
VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS 92837L109 10,070,435 154,100 SH SOLE 154,100 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 3,396,488 25,400 SH SOLE 25,400 0 0
YPF SOCIEDAD ANONIMA SPONSORED ADS 984245100 10,166,364 202,800 SH SOLE 202,800 0 0