<SEC-DOCUMENT>0001567619-21-018193.txt : 20211012
<SEC-HEADER>0001567619-21-018193.hdr.sgml : 20211012
<ACCEPTANCE-DATETIME>20211012103601
ACCESSION NUMBER:		0001567619-21-018193
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210930
FILED AS OF DATE:		20211012
DATE AS OF CHANGE:		20211012
EFFECTIVENESS DATE:		20211012

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HENNESSY ADVISORS INC
		CENTRAL INDEX KEY:			0001145255
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				680176227
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-06715
		FILM NUMBER:		211317571

	BUSINESS ADDRESS:	
		STREET 1:		7250 REDWOOD BLVD.
		STREET 2:		SUITE 200
		CITY:			NOVATO
		STATE:			CA
		ZIP:			94945
		BUSINESS PHONE:		415-899-1555

	MAIL ADDRESS:	
		STREET 1:		7250 REDWOOD BLVD.
		STREET 2:		SUITE 200
		CITY:			NOVATO
		STATE:			CA
		ZIP:			94945
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <liveTestFlag>LIVE</liveTestFlag>
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        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
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      <filer>
        <credentials>
          <cik>0001145255</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2021</periodOfReport>
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  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2021</reportCalendarOrQuarter>
      <filingManager>
        <name>HENNESSY ADVISORS INC</name>
        <address>
          <com:street1>7250 REDWOOD BLVD.</com:street1>
          <com:street2>SUITE 200</com:street2>
          <com:city>NOVATO</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94945</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-06715</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Teresa M. Nilsen</name>
      <title>President and Chief Operating Officer</title>
      <phone>415-899-1555</phone>
      <signature>/s/ Teresa M. Nilsen</signature>
      <city>Novato</city>
      <stateOrCountry>CA</stateOrCountry>
      <signatureDate>10-11-2021</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>269</tableEntryTotal>
      <tableValueTotal>1675569</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
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			<nameOfIssuer>1 800 FLOWERS COM INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>68243Q106</cusip>
			<value>2917</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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				<None>0</None>
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			<nameOfIssuer>3M CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88579Y101</cusip>
			<value>6938</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39550</sshPrnamt>
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				<Sole>39550</Sole>
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			<nameOfIssuer>ABBVIE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00287Y109</cusip>
			<value>7270</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67400</sshPrnamt>
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			<nameOfIssuer>ALGONQUIN PWR UTILS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015857105</cusip>
			<value>2503</value>
			<shrsOrPrnAmt>
				<sshPrnamt>170764</sshPrnamt>
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				<None>0</None>
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			<nameOfIssuer>ALLIANCE DATA SYSTEMS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018581108</cusip>
			<value>6760</value>
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			<nameOfIssuer>ALLSCRIPTS HEALTHCARE SOLUTNS COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>01988P108</cusip>
			<value>11907</value>
			<shrsOrPrnAmt>
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			<votingAuthority>
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		<infoTable>
			<nameOfIssuer>ALLSTATE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>020002101</cusip>
			<value>3221</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>25300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLY FINL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02005N100</cusip>
			<value>3114</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>61000</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALPHA &amp; OMEGA SEMICONDUCTOR LT SHS</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G6331P104</cusip>
			<value>2742</value>
			<shrsOrPrnAmt>
				<sshPrnamt>87400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ALTRIA GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02209S103</cusip>
			<value>4684</value>
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				<Sole>102900</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>AMEREN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023608102</cusip>
			<value>5090</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62840</sshPrnamt>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>AMERIPRISE FINL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03076C106</cusip>
			<value>3222</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12200</sshPrnamt>
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			<nameOfIssuer>AMGEN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031162100</cusip>
			<value>4710</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22150</sshPrnamt>
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			<nameOfIssuer>APPLE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037833100</cusip>
			<value>3169</value>
			<shrsOrPrnAmt>
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			<nameOfIssuer>ARROW ELECTRS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>042735100</cusip>
			<value>12696</value>
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			<nameOfIssuer>ASE TECHNOLOGY HLDG CO LTD</nameOfIssuer>
			<titleOfClass>SPONSORED ADS</titleOfClass>
			<cusip>00215W100</cusip>
			<value>117</value>
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			<nameOfIssuer>ASSOCIATED BANC CORP</nameOfIssuer>
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			<cusip>045487105</cusip>
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			<nameOfIssuer>AT&amp;T INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R102</cusip>
			<value>4404</value>
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			<nameOfIssuer>ATMOS ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>049560105</cusip>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>AUTONATION INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05329W102</cusip>
			<value>4676</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38400</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>38400</Sole>
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				<None>0</None>
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			<nameOfIssuer>AUTOZONE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053332102</cusip>
			<value>3905</value>
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			<value>6367</value>
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			<nameOfIssuer>AVIENT CORPORATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05368V106</cusip>
			<value>13683</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>AVISTA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05379B107</cusip>
			<value>1368</value>
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				<None>0</None>
			</votingAuthority>
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			<nameOfIssuer>BANK NEW YORK MELLON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>064058100</cusip>
			<value>5438</value>
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			<votingAuthority>
				<Sole>104900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANKUNITED INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>06652K103</cusip>
			<value>3137</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75000</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>75000</Sole>
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				<None>0</None>
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			<nameOfIssuer>BANNER CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>06652V208</cusip>
			<value>6625</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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				<None>0</None>
			</votingAuthority>
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			<nameOfIssuer>BCE INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>05534B760</cusip>
			<value>5276</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>105400</Sole>
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				<None>0</None>
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		</infoTable>
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			<nameOfIssuer>BED BATH &amp; BEYOND INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075896100</cusip>
			<value>7473</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>432600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BERKSHIRE HATHAWAY INC - CL A</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>084670108</cusip>
			<value>25094</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>61</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BERKSHIRE HILLS BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>084680107</cusip>
			<value>3399</value>
			<shrsOrPrnAmt>
				<sshPrnamt>126000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>126000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BERRY GLOBAL GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>08579W103</cusip>
			<value>11506</value>
			<shrsOrPrnAmt>
				<sshPrnamt>189000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>189000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEST BUY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>086516101</cusip>
			<value>2844</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>26900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIG 5 SPORTING GOODS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>08915P101</cusip>
			<value>4638</value>
			<shrsOrPrnAmt>
				<sshPrnamt>201300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>201300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIG LOTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>089302103</cusip>
			<value>10073</value>
			<shrsOrPrnAmt>
				<sshPrnamt>232300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>232300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIOGEN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09062X103</cusip>
			<value>2802</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>9900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BJS WHSL CLUB HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05550J101</cusip>
			<value>16267</value>
			<shrsOrPrnAmt>
				<sshPrnamt>296200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>296200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BK OF AMERICA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>060505104</cusip>
			<value>3523</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>83000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACK HILLS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>092113109</cusip>
			<value>5350</value>
			<shrsOrPrnAmt>
				<sshPrnamt>85247</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>85247</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACKROCK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09247X101</cusip>
			<value>2935</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACKSTONE INC</nameOfIssuer>
			<titleOfClass>COM CL A</titleOfClass>
			<cusip>09260D107</cusip>
			<value>3141</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>27000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLUELINX HLDGS INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>09624H208</cusip>
			<value>3612</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>73900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOOZ ALLEN HAMILTON HLDG CORP CL A</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>099502106</cusip>
			<value>2777</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BP PLC</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>055622104</cusip>
			<value>5094</value>
			<shrsOrPrnAmt>
				<sshPrnamt>186400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>186400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRISTOL-MYERS SQUIBB CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>110122108</cusip>
			<value>4396</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>74300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRITISH AMERN TOB PLC</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>110448107</cusip>
			<value>4512</value>
			<shrsOrPrnAmt>
				<sshPrnamt>127900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>127900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CADENCE BANCORPORATION</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>12739A100</cusip>
			<value>4831</value>
			<shrsOrPrnAmt>
				<sshPrnamt>220000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>220000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CANADIAN NAT RES LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>136385101</cusip>
			<value>5868</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>160600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14040H105</cusip>
			<value>3401</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>21000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14149Y108</cusip>
			<value>2592</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>52400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CASEYS GEN STORES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>147528103</cusip>
			<value>9724</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>51600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTERPOINT ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>15189T107</cusip>
			<value>15833</value>
			<shrsOrPrnAmt>
				<sshPrnamt>643628</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>643628</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTRUS ENERGY CORP</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>15643U104</cusip>
			<value>5014</value>
			<shrsOrPrnAmt>
				<sshPrnamt>129700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>129700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTURY ALUM CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>156431108</cusip>
			<value>3673</value>
			<shrsOrPrnAmt>
				<sshPrnamt>273100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>273100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHENIERE ENERGY INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>16411R208</cusip>
			<value>25611</value>
			<shrsOrPrnAmt>
				<sshPrnamt>262217</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>262217</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHESAPEAKE UTILS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>165303108</cusip>
			<value>3717</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30958</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>30958</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>CHEVRON CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>166764100</cusip>
			<value>9321</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91875</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>91875</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CISCO SYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17275R102</cusip>
			<value>13776</value>
			<shrsOrPrnAmt>
				<sshPrnamt>253100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>253100</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIT GROUP INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>125581801</cusip>
			<value>6546</value>
			<shrsOrPrnAmt>
				<sshPrnamt>126000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>126000</Sole>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>CITI TRENDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17306X102</cusip>
			<value>3487</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>47800</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>CITIGROUP INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>172967424</cusip>
			<value>7678</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109400</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>109400</Sole>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>CLOROX CO DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>189054109</cusip>
			<value>2468</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>14900</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>CMS ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125896100</cusip>
			<value>13624</value>
			<shrsOrPrnAmt>
				<sshPrnamt>228098</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>228098</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>COCA COLA CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>191216100</cusip>
			<value>8980</value>
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				<sshPrnamt>171150</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>171150</Sole>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>COLFAX CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>194014106</cusip>
			<value>13742</value>
			<shrsOrPrnAmt>
				<sshPrnamt>299400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>299400</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>COLGATE PALMOLIVE CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>194162103</cusip>
			<value>4580</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>60600</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMMERCIAL METALS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>201723103</cusip>
			<value>13518</value>
			<shrsOrPrnAmt>
				<sshPrnamt>443800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>443800</Sole>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>COMMUNITY HEALTH SYS INC NEW COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>203668108</cusip>
			<value>3571</value>
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				<sshPrnamt>305200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>305200</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>CONCENTRIX CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20602D101</cusip>
			<value>11098</value>
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				<sshPrnamt>62700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>62700</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>CONDUENT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>206787103</cusip>
			<value>124</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18839</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>18839</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>CONNECTONE BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20786W107</cusip>
			<value>7082</value>
			<shrsOrPrnAmt>
				<sshPrnamt>236000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>236000</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20825C104</cusip>
			<value>5903</value>
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				<sshPrnamt>87100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>87100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>CONSOLIDATED EDISON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>209115104</cusip>
			<value>13976</value>
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				<sshPrnamt>192536</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>192536</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>CORNING INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>219350105</cusip>
			<value>4236</value>
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				<sshPrnamt>116100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>116100</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>COVETRUS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22304C100</cusip>
			<value>1497</value>
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				<sshPrnamt>82500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>82500</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>CVS HEALTH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126650100</cusip>
			<value>5609</value>
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				<sshPrnamt>66100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>66100</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>D R HORTON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23331A109</cusip>
			<value>2947</value>
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				<sshPrnamt>35100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35100</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>DAKTRONICS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>234264109</cusip>
			<value>130</value>
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				<sshPrnamt>23922</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>23922</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>DANAOS CORPORATION</nameOfIssuer>
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			<cusip>Y1968P121</cusip>
			<value>8624</value>
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				<sshPrnamt>105303</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>105303</Sole>
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				<None>0</None>
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			<nameOfIssuer>DOLLAR GEN CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256677105</cusip>
			<value>3034</value>
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				<sshPrnamt>14300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>14300</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>DOLLAR TREE INC</nameOfIssuer>
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			<value>2632</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>27500</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>DOMINION ENERGY INC</nameOfIssuer>
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			<cusip>25746U109</cusip>
			<value>24789</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>339477</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>DOW INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260557103</cusip>
			<value>8528</value>
			<shrsOrPrnAmt>
				<sshPrnamt>148150</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>148150</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>DTE ENERGY CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233331107</cusip>
			<value>8658</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>77504</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>DUKE ENERGY CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26441C204</cusip>
			<value>15857</value>
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				<sshPrnamt>162487</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>162487</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>EASTERN BANKSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>27627N105</cusip>
			<value>1929</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>95000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>EBAY INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>278642103</cusip>
			<value>3337</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>47900</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>EMERSON ELEC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>291011104</cusip>
			<value>2967</value>
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				<sshPrnamt>31500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>31500</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ENBRIDGE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29250N105</cusip>
			<value>25144</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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		<infoTable>
			<nameOfIssuer>ENTERGY CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29364G103</cusip>
			<value>493</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4960</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ERICSSON</nameOfIssuer>
			<titleOfClass>ADR B SEK 10</titleOfClass>
			<cusip>294821608</cusip>
			<value>128</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>11427</Sole>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>ESSENTIAL UTILS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29670G102</cusip>
			<value>10981</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>238300</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>EVERSOURCE ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30040W108</cusip>
			<value>6760</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>82675</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>EXELON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30161N101</cusip>
			<value>7204</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>149031</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30231G102</cusip>
			<value>4777</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>81210</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>FIRST BANCORP P R</nameOfIssuer>
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			<cusip>318672706</cusip>
			<value>6772</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>515000</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST MIDWEST BANCORP DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>320867104</cusip>
			<value>6178</value>
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				<sshPrnamt>325000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>325000</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>FLUENT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34380C102</cusip>
			<value>1075</value>
			<shrsOrPrnAmt>
				<sshPrnamt>473400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>473400</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>FLUSHING FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>343873105</cusip>
			<value>6893</value>
			<shrsOrPrnAmt>
				<sshPrnamt>305000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>305000</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>FMC CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>302491303</cusip>
			<value>2435</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>26600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FORTIS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>349553107</cusip>
			<value>8284</value>
			<shrsOrPrnAmt>
				<sshPrnamt>186876</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>186876</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>375558103</cusip>
			<value>5127</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>73400</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>GLAXOSMITHKLINE PLC</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>37733W105</cusip>
			<value>5189</value>
			<shrsOrPrnAmt>
				<sshPrnamt>135800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>135800</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>GOGO INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>38046C109</cusip>
			<value>3918</value>
			<shrsOrPrnAmt>
				<sshPrnamt>226500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>226500</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>GOLDMAN SACHS GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38141G104</cusip>
			<value>3364</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOPRO INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>38268T103</cusip>
			<value>2563</value>
			<shrsOrPrnAmt>
				<sshPrnamt>273800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>273800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GREEN BRICK PARTNERS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>392709101</cusip>
			<value>2774</value>
			<shrsOrPrnAmt>
				<sshPrnamt>135200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>135200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GROCERY OUTLET HLDG CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>39874R101</cusip>
			<value>4987</value>
			<shrsOrPrnAmt>
				<sshPrnamt>231200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>231200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HANCOCK WHITNEY CORPORATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>410120109</cusip>
			<value>6126</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>130000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARBORONE BANCORP INC NEW</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>41165Y100</cusip>
			<value>2246</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>160000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HCA HEALTHCARE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40412C101</cusip>
			<value>3811</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>15700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HELLO GROUP INC</nameOfIssuer>
			<titleOfClass>ADS</titleOfClass>
			<cusip>423403104</cusip>
			<value>108</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10202</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10202</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HIBBETT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>428567101</cusip>
			<value>3587</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>50700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HINGHAM INSTN SVGS MASS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>433323102</cusip>
			<value>7576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>22500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOLOGIC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>436440101</cusip>
			<value>2768</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>37500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437076102</cusip>
			<value>9191</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOMETRUST BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437872104</cusip>
			<value>6240</value>
			<shrsOrPrnAmt>
				<sshPrnamt>223000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>223000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOVNANIAN ENTERPRISES INC</nameOfIssuer>
			<titleOfClass>CL A NEW</titleOfClass>
			<cusip>442487401</cusip>
			<value>5774</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>59900</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>HP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40434L105</cusip>
			<value>6791</value>
			<shrsOrPrnAmt>
				<sshPrnamt>248200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>248200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUMANA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444859102</cusip>
			<value>2763</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>7100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUNTINGTON BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>446150104</cusip>
			<value>2675</value>
			<shrsOrPrnAmt>
				<sshPrnamt>173000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>173000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INDEPENDENT BK CORP MASS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>453836108</cusip>
			<value>4379</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>57500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INFRA AND ENERGY ALTRNTIVE INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45686J104</cusip>
			<value>1583</value>
			<shrsOrPrnAmt>
				<sshPrnamt>138500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>138500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTEL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>458140100</cusip>
			<value>6388</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119903</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>119903</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERNATIONAL BUSINESS MACHS COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459200101</cusip>
			<value>9718</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69950</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69950</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERPUBLIC GROUP COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460690100</cusip>
			<value>3792</value>
			<shrsOrPrnAmt>
				<sshPrnamt>103400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>103400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INVESTORS BANCORP INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46146L101</cusip>
			<value>2342</value>
			<shrsOrPrnAmt>
				<sshPrnamt>155000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>155000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JEFFERIES FINL GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>47233W109</cusip>
			<value>17551</value>
			<shrsOrPrnAmt>
				<sshPrnamt>472700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>472700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478160104</cusip>
			<value>4651</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JPMORGAN CHASE &amp; CO.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>10673</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>65200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KB HOME</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48666K109</cusip>
			<value>9018</value>
			<shrsOrPrnAmt>
				<sshPrnamt>231700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>231700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KEARNY FINL CORP MD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48716P108</cusip>
			<value>4661</value>
			<shrsOrPrnAmt>
				<sshPrnamt>375000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>375000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KELLOGG CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>487836108</cusip>
			<value>2991</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>46800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KEYCORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>493267108</cusip>
			<value>2162</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>100000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMBERLY-CLARK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>494368103</cusip>
			<value>2794</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>21100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KINDER MORGAN INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49456B101</cusip>
			<value>25214</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1507101</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1507101</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIRKLANDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>497498105</cusip>
			<value>2096</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>109100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KKR &amp; CO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48251W104</cusip>
			<value>3610</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>59300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KRAFT HEINZ CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500754106</cusip>
			<value>4547</value>
			<shrsOrPrnAmt>
				<sshPrnamt>123500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>123500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KROGER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501044101</cusip>
			<value>9024</value>
			<shrsOrPrnAmt>
				<sshPrnamt>223200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>223200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LAKELAND BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>511637100</cusip>
			<value>6611</value>
			<shrsOrPrnAmt>
				<sshPrnamt>375000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>375000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LANDS END INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>51509F105</cusip>
			<value>2380</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>101100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LG DISPLAY CO LTD</nameOfIssuer>
			<titleOfClass>SPONS ADR REP</titleOfClass>
			<cusip>50186V102</cusip>
			<value>125</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15739</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>15739</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LITHIA MTRS INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>536797103</cusip>
			<value>13823</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>43600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LKQ CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501889208</cusip>
			<value>14980</value>
			<shrsOrPrnAmt>
				<sshPrnamt>297700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>297700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOCKHEED MARTIN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>539830109</cusip>
			<value>2830</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOWES COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>548661107</cusip>
			<value>3428</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>16900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LPL FINL HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>50212V100</cusip>
			<value>17714</value>
			<shrsOrPrnAmt>
				<sshPrnamt>113000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>113000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LUMBER LIQUIDATORS HLDGS INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55003T107</cusip>
			<value>1815</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97145</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>97145</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MANULIFE FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56501R106</cusip>
			<value>4285</value>
			<shrsOrPrnAmt>
				<sshPrnamt>222700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>222700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARINEMAX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>567908108</cusip>
			<value>3256</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>67100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MASTERCARD INCORPORATED</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>57636Q104</cusip>
			<value>3025</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8701</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8701</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MATTEL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>577081102</cusip>
			<value>13883</value>
			<shrsOrPrnAmt>
				<sshPrnamt>748000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>748000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MAXAR TECHNOLOGIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>57778K105</cusip>
			<value>8533</value>
			<shrsOrPrnAmt>
				<sshPrnamt>301300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>301300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MCDONALDS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580135101</cusip>
			<value>5304</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>22000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MDU RES GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>552690109</cusip>
			<value>5673</value>
			<shrsOrPrnAmt>
				<sshPrnamt>191207</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>191207</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MERCK &amp; CO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58933Y105</cusip>
			<value>11368</value>
			<shrsOrPrnAmt>
				<sshPrnamt>151350</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>151350</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MERIDIAN BANCORP INC MD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58958U103</cusip>
			<value>3654</value>
			<shrsOrPrnAmt>
				<sshPrnamt>176000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>176000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MERITAGE HOMES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59001A102</cusip>
			<value>8255</value>
			<shrsOrPrnAmt>
				<sshPrnamt>85100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>85100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>METLIFE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59156R108</cusip>
			<value>4759</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>77100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MGE ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55277P104</cusip>
			<value>1112</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15129</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>15129</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOLINA HEALTHCARE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>60855R100</cusip>
			<value>3608</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>13300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MONDELEZ INTL INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>609207105</cusip>
			<value>4969</value>
			<shrsOrPrnAmt>
				<sshPrnamt>85400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>85400</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>MONEYGRAM INTL INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>60935Y208</cusip>
			<value>2836</value>
			<shrsOrPrnAmt>
				<sshPrnamt>353600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>353600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOODYS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>615369105</cusip>
			<value>2841</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>617446448</cusip>
			<value>3357</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>34500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MYR GROUP INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55405W104</cusip>
			<value>4766</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>47900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL FUEL GAS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>636180101</cusip>
			<value>6929</value>
			<shrsOrPrnAmt>
				<sshPrnamt>131924</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>131924</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL GRID PLC</nameOfIssuer>
			<titleOfClass>SPON ADR NEW</titleOfClass>
			<cusip>636274409</cusip>
			<value>24356</value>
			<shrsOrPrnAmt>
				<sshPrnamt>408444</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>408444</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEW JERSEY RES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>646025106</cusip>
			<value>6298</value>
			<shrsOrPrnAmt>
				<sshPrnamt>180934</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>180934</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEW YORK CMNTY BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>649445103</cusip>
			<value>5019</value>
			<shrsOrPrnAmt>
				<sshPrnamt>390000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>390000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEWMONT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651639106</cusip>
			<value>4550</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>83800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NISOURCE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65473P105</cusip>
			<value>14358</value>
			<shrsOrPrnAmt>
				<sshPrnamt>592581</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>592581</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NOKIA CORP</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>654902204</cusip>
			<value>121</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22230</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>22230</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHWEST NAT HLDG CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>66765N105</cusip>
			<value>3344</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72703</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>72703</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHWESTERN CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>668074305</cusip>
			<value>1988</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34698</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>34698</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTONLIFELOCK INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>668771108</cusip>
			<value>3504</value>
			<shrsOrPrnAmt>
				<sshPrnamt>138500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>138500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NU SKIN ENTERPRISES INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>67018T105</cusip>
			<value>1943</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>48000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OMNICOM GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>681919106</cusip>
			<value>2848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>39300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ONE GAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68235P108</cusip>
			<value>8452</value>
			<shrsOrPrnAmt>
				<sshPrnamt>133375</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ORACLE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68389X105</cusip>
			<value>3785</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43439</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>43439</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>OREILLY AUTOMOTIVE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67103H107</cusip>
			<value>3666</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>6000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ORGANON &amp; CO</nameOfIssuer>
			<titleOfClass>COMMON STOCK</titleOfClass>
			<cusip>68622V106</cusip>
			<value>343</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10450</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10450</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>OWENS &amp; MINOR INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>690732102</cusip>
			<value>14678</value>
			<shrsOrPrnAmt>
				<sshPrnamt>469100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>469100</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PACIFIC PREMIER BANCORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69478X105</cusip>
			<value>2528</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>61000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PACWEST BANCORP DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>695263103</cusip>
			<value>5121</value>
			<shrsOrPrnAmt>
				<sshPrnamt>113000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>113000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PAYPAL HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70450Y103</cusip>
			<value>3123</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>12000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PENNYMAC FINL SVCS INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70932M107</cusip>
			<value>2769</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>45300</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PEPSICO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713448108</cusip>
			<value>5279</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35100</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PETROLEO BRASILEIRO SA PETROBR SPONSORED ADR</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>71654V408</cusip>
			<value>6065</value>
			<shrsOrPrnAmt>
				<sshPrnamt>586600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>586600</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PFIZER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>717081103</cusip>
			<value>5849</value>
			<shrsOrPrnAmt>
				<sshPrnamt>136000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>136000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PG&amp;E CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69331C108</cusip>
			<value>15021</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1564649</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1564649</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PHILIP MORRIS INTL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718172109</cusip>
			<value>8161</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>86100</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PLAINS GP HLDGS L P</nameOfIssuer>
			<titleOfClass>LTP PARTNR INT A</titleOfClass>
			<cusip>72651A207</cusip>
			<value>3138</value>
			<shrsOrPrnAmt>
				<sshPrnamt>291255</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>291255</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PPL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69351T106</cusip>
			<value>1721</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61719</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>61719</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PRICE T ROWE GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74144T108</cusip>
			<value>3285</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>16700</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PROCTER AND GAMBLE CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>742718109</cusip>
			<value>5159</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>36900</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>PROGRESSIVE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>743315103</cusip>
			<value>2838</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>31400</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PUBLIC SVC ENTERPRISE GRP INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744573106</cusip>
			<value>14262</value>
			<shrsOrPrnAmt>
				<sshPrnamt>234190</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>234190</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>PULTE GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>745867101</cusip>
			<value>2751</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>59900</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>QIWI PLC</nameOfIssuer>
			<titleOfClass>SPON ADR REP B</titleOfClass>
			<cusip>74735M108</cusip>
			<value>124</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14850</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>14850</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>QUANTA SVCS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74762E102</cusip>
			<value>21466</value>
			<shrsOrPrnAmt>
				<sshPrnamt>188600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>188600</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>QUEST DIAGNOSTICS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74834L100</cusip>
			<value>3400</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>23400</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>QURATE RETAIL INC</nameOfIssuer>
			<titleOfClass>COM SER A</titleOfClass>
			<cusip>74915M100</cusip>
			<value>2480</value>
			<shrsOrPrnAmt>
				<sshPrnamt>243412</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>243412</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>RAYONIER ADVANCED MATLS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75508B104</cusip>
			<value>2672</value>
			<shrsOrPrnAmt>
				<sshPrnamt>356259</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>356259</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>RAYTHEON TECHNOLOGIES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75513E101</cusip>
			<value>5295</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>61600</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>REGENERON PHARMACEUTICALS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75886F107</cusip>
			<value>3631</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>6000</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>RENEWABLE ENERGY GROUP INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>75972A301</cusip>
			<value>9990</value>
			<shrsOrPrnAmt>
				<sshPrnamt>199000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>199000</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>RGC RES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74955L103</cusip>
			<value>504</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22254</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>22254</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>ROYAL BK CDA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>780087102</cusip>
			<value>5253</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>52800</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ROYAL DUTCH SHELL PLC</nameOfIssuer>
			<titleOfClass>SPON ADR B</titleOfClass>
			<cusip>780259206</cusip>
			<value>4978</value>
			<shrsOrPrnAmt>
				<sshPrnamt>111700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>111700</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>SEALED AIR CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>81211K100</cusip>
			<value>12404</value>
			<shrsOrPrnAmt>
				<sshPrnamt>226400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>226400</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>SEMPRA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>816851109</cusip>
			<value>24913</value>
			<shrsOrPrnAmt>
				<sshPrnamt>196940</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>196940</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SHORE BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>825107105</cusip>
			<value>1241</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>70000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>SIGNATURE BK NEW YORK N Y</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>82669G104</cusip>
			<value>2587</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>9500</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>SIGNET JEWELERS LIMITED</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G81276100</cusip>
			<value>5219</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>66100</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SLEEP NUMBER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>83125X103</cusip>
			<value>13723</value>
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				<sshPrnamt>146800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>146800</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SNAP ON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>833034101</cusip>
			<value>2779</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>13300</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SOFI TECHNOLOGIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>83406F102</cusip>
			<value>1906</value>
			<shrsOrPrnAmt>
				<sshPrnamt>120000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>120000</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SOUTH JERSEY INDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>838518108</cusip>
			<value>5353</value>
			<shrsOrPrnAmt>
				<sshPrnamt>251771</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>251771</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SOUTHERN CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>842587107</cusip>
			<value>24924</value>
			<shrsOrPrnAmt>
				<sshPrnamt>402200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>402200</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SOUTHWEST GAS HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>844895102</cusip>
			<value>8107</value>
			<shrsOrPrnAmt>
				<sshPrnamt>121217</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>121217</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SPIRE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>84857L101</cusip>
			<value>5628</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91991</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>91991</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SPORTSMANS WHSE HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>84920Y106</cusip>
			<value>2860</value>
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				<sshPrnamt>162500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>162500</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SQUARE INC</nameOfIssuer>
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			<cusip>852234103</cusip>
			<value>2039</value>
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				<sshPrnamt>8500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8500</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>STERLING BANCORP DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>85917A100</cusip>
			<value>2746</value>
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				<sshPrnamt>110000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>110000</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SUNCOR ENERGY INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867224107</cusip>
			<value>4696</value>
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				<sshPrnamt>226400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>226400</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SUNOPTA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>8676EP108</cusip>
			<value>1627</value>
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				<sshPrnamt>182200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>182200</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SURGERY PARTNERS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>86881A100</cusip>
			<value>3065</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>72400</Sole>
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				<None>0</None>
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			<nameOfIssuer>SYNNEX CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87162W100</cusip>
			<value>6659</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>63969</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SYNOVUS FINL CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>87161C501</cusip>
			<value>4082</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>93000</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TARGET CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87612E106</cusip>
			<value>3363</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>14700</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TELLURIAN INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87968A104</cusip>
			<value>3553</value>
			<shrsOrPrnAmt>
				<sshPrnamt>908690</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>908690</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TEXAS CAP BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88224Q107</cusip>
			<value>6062</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>101000</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TEXAS INSTRS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>882508104</cusip>
			<value>5100</value>
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				<sshPrnamt>26533</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>26533</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TIMKEN CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>887389104</cusip>
			<value>10317</value>
			<shrsOrPrnAmt>
				<sshPrnamt>157700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>157700</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TITAN MACHY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88830R101</cusip>
			<value>3301</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>127400</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TORONTO DOMINION BK ONT</nameOfIssuer>
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			<cusip>891160509</cusip>
			<value>4935</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>74600</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TOTALENERGIES SE</nameOfIssuer>
			<titleOfClass>SPONSORED ADS</titleOfClass>
			<cusip>89151E109</cusip>
			<value>4769</value>
			<shrsOrPrnAmt>
				<sshPrnamt>99500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>99500</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TRADEWEB MKTS INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>892672106</cusip>
			<value>2908</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>36000</Sole>
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		<infoTable>
			<nameOfIssuer>TRONOX HOLDINGS PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G9087Q102</cusip>
			<value>4089</value>
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				<sshPrnamt>165900</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>165900</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TURTLE BEACH CORP</nameOfIssuer>
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			<cusip>900450206</cusip>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>103860</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>UGI CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902681105</cusip>
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				<sshPrnamt>138152</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>138152</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ULTRA CLEAN HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90385V107</cusip>
			<value>2939</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69000</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>UNILEVER PLC</nameOfIssuer>
			<titleOfClass>SPON ADR NEW</titleOfClass>
			<cusip>904767704</cusip>
			<value>4717</value>
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				<sshPrnamt>87000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>87000</Sole>
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		<infoTable>
			<nameOfIssuer>UNION PAC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>907818108</cusip>
			<value>2568</value>
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				<sshPrnamt>13100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>13100</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>UNITED NAT FOODS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911163103</cusip>
			<value>5365</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>110800</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>UNITED PARCEL SERVICE INC</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>911312106</cusip>
			<value>5172</value>
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				<sshPrnamt>28400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28400</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITEDHEALTH GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91324P102</cusip>
			<value>3165</value>
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				<sshPrnamt>8100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8100</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>913259107</cusip>
			<value>1010</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23598</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>23598</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>VALMONT INDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>920253101</cusip>
			<value>16224</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69003</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69003</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>VERIZON COMMUNICATIONS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343V104</cusip>
			<value>10932</value>
			<shrsOrPrnAmt>
				<sshPrnamt>202400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>202400</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>VIRNETX HLDG CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92823T108</cusip>
			<value>1769</value>
			<shrsOrPrnAmt>
				<sshPrnamt>451300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>451300</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VIRTU FINL INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>928254101</cusip>
			<value>2441</value>
			<shrsOrPrnAmt>
				<sshPrnamt>99900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>99900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>VISA INC</nameOfIssuer>
			<titleOfClass>COM CL A</titleOfClass>
			<cusip>92826C839</cusip>
			<value>3007</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>13500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VISTA OUTDOOR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>928377100</cusip>
			<value>22102</value>
			<shrsOrPrnAmt>
				<sshPrnamt>548300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>548300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VOXX INTL CORP</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>91829F104</cusip>
			<value>1651</value>
			<shrsOrPrnAmt>
				<sshPrnamt>144200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>144200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WALGREENS BOOTS ALLIANCE INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931427108</cusip>
			<value>4303</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91450</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>91450</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WALMART INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931142103</cusip>
			<value>2899</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>20800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WEBSTER FINL CORP CONN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>947890109</cusip>
			<value>1688</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>31000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WEC ENERGY GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92939U106</cusip>
			<value>24876</value>
			<shrsOrPrnAmt>
				<sshPrnamt>282040</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>282040</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WELLS FARGO CO NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>949746101</cusip>
			<value>3225</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WESTERN NEW ENG BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>958892101</cusip>
			<value>904</value>
			<shrsOrPrnAmt>
				<sshPrnamt>106000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>106000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WHIRLPOOL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>963320106</cusip>
			<value>2895</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>14200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WILLIAMS SONOMA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>969904101</cusip>
			<value>19489</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>109900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WINTRUST FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>97650W108</cusip>
			<value>5626</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>70000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WSFS FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929328102</cusip>
			<value>6773</value>
			<shrsOrPrnAmt>
				<sshPrnamt>132000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>132000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XCEL ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98389B100</cusip>
			<value>10025</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160399</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>160399</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YELLOW CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>985510106</cusip>
			<value>3036</value>
			<shrsOrPrnAmt>
				<sshPrnamt>537400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>537400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
