Q4 2024 Holdings
Filed 2025-02-13 | 34 holdings | $295.3M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Gerdau SA(GGB) | SPON ADR REP PFD | 373737105 | $55.4M | 19,219,112 | 18.7% |
| Petroleo Brasileiro SA Petro(PBR) | SPONSORED ADR | 71654V408 | $50.2M | 3,906,345 | 17.0% |
| Algoma STL Group Inc(ASTL) | COM | 015658107 | $34.9M | 3,572,018 | 11.8% |
| Vale S A(VALE) | SPONSORED ADS | 91912E105 | $32.7M | 3,686,411 | 11.1% |
| Ternium SA(TX) | SPONSORED ADS | 880890108 | $28.9M | 992,413 | 9.8% |
| Arch Resources Inc(ARCH1USD) | CL A | 03940R107 | $23.3M | 165,343 | 7.9% |
| HSBC Hldgs PLC(HBC2) | SPON ADR NEW | 404280406 | $11.9M | 240,876 | 4.0% |
| Lithium Americas Argentina C | NOTE 1.750% 1/1 | 53680QAA6 | $9.6M | 12,500,000 | 3.2% |
| National Cinemedia Inc(NCMI) | COM NEW | 635309206 | $4.9M | 739,899 | 1.7% |
| Caesars Entertainment Inc NE(CZR) | COM | 12769G100 | $3.9M | 118,000 | 1.3% |
| Emerald Holding Inc(EEX) | COM | 29103W104 | $3.8M | 790,885 | 1.3% |
| Brightview Hldgs Inc(BV) | COM | 10948C107 | $3.8M | 237,621 | 1.3% |
| Advantage Solutions Inc(ADV) | COM CL A | 00791N102 | $3.7M | 1,278,140 | 1.3% |
| Macys Inc(M) | COM | 55616P104 | $3.4M | 200,000 | 1.1% |
| Century Casinos Inc(CNTY) | COM | 156492100 | $2.9M | 889,144 | 1.0% |
| Sabre Corp(SABR) | COM | 78573M104 | $2.5M | 685,000 | 0.8% |
| Viper Energy Inc(VNOMUSD) | CL A | 927959106 | $2.3M | 47,708 | 0.8% |
| Valaris LTD(VAL) | CL A | G9460G101 | $2.2M | 50,000 | 0.7% |
| Clear Channel Outdoor Hldgs(CCO) | COM | 18453H106 | $2.2M | 1,597,614 | 0.7% |
| Newell Brands Inc(NWL) | COM | 651229106 | $1.9M | 195,729 | 0.7% |
| Noble Corp PLC(NE) | ORD SHS A | G65431127 | $1.9M | 60,000 | 0.6% |
| Pitney Bowes Inc(PBI) | COM | 724479100 | $1.5M | 203,000 | 0.5% |
| United Parks & Resorts Inc(PRKS) | COM | 81282V100 | $1.1M | 19,500 | 0.4% |
| Cleveland-Cliffs Inc New(CLF) | COM | 185899101 | $1.1M | 115,000 | 0.4% |
| NCR Atleos Corporation(NATL) | COM SHS | 63001N106 | $915.8K | 27,000 | 0.3% |
| Skillsoft Corp(SKIL) | CL A | 83066P309 | $898.5K | 37,500 | 0.3% |
| NCR Voyix Corporation(VYX) | COM | 62886E108 | $705.8K | 51,000 | 0.2% |
| Alta Equipment Group Inc(ALTG) | COMMON STOCK | 02128L106 | $654.0K | 100,000 | 0.2% |
| Magnera Corp(MAGN) | COM SHS | 55939A107 | $472.4K | 26,000 | 0.2% |
| Ardagh Metal Packaging S A(AMBP) | SHS | L02235106 | $385.3K | 128,000 | 0.1% |
| Masterbrand Inc(MBC) | COMMON STOCK | 57638P104 | $379.9K | 26,000 | 0.1% |
| Mattel Inc(MAT) | COM | 577081102 | $372.3K | 21,000 | 0.1% |
| Capri Holdings Limited(CPRI) | SHS | G1890L107 | $231.7K | 11,000 | 0.1% |
| Petroleo Brasileiro SA Petro(PJX) | SP ADR NON VTG | 71654V101 | $168.1K | 14,197 | 0.1% |