Q1 2025 Holdings
Filed 2025-04-29 | 42 holdings | $551.7M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Range RES Corp(RRC) | COM | 75281A109 | $57.8M | 1,435,376 | 10.5% |
| Nutrien LTD(NTR) | COM | 67077M108 | $35.2M | 671,829 | 6.4% |
| Antero Resources Corp(AR) | COM | 03674X106 | $34.8M | 849,101 | 6.3% |
| EQT Corp(EQT) | COM | 26884L109 | $32.5M | 605,654 | 5.9% |
| Alamos Gold Inc New(AGI) | COM CL A | 011532108 | $31.9M | 1,223,257 | 5.8% |
| Cameco Corp(CCJ) | COM | 13321L108 | $30.2M | 673,298 | 5.5% |
| Seadrill LTD(SDRL) | COM | G7997W102 | $30.1M | 1,200,201 | 5.5% |
| Core Natural Resources Inc(CNR) | COM SHS | 218937100 | $20.7M | 283,062 | 3.8% |
| Canadian NAT RES LTD(CNQ) | COM | 136385101 | $16.2M | 526,765 | 2.9% |
| Centrus Energy Corp(LEU) | CL A | 15643U104 | $15.8M | 212,362 | 2.9% |
| Matador RES Co(MTDR) | COM | 576485205 | $15.3M | 292,069 | 2.8% |
| Mosaic Co New(MOS) | COM | 61945C103 | $13.1M | 461,497 | 2.4% |
| Orla MNG LTD New(ORLA) | COM | 68634K106 | $13.0M | 1,397,753 | 2.3% |
| Skeena RES LTD New(SKE) | COM | 83056P715 | $12.6M | 1,165,367 | 2.3% |
| Expand Energy Corporation(EXE) | COM | 165167735 | $12.2M | 111,704 | 2.2% |
| Sibanye Stillwater LTD(SBSW) | SPONSORED ADR | 82575P107 | $12.0M | 2,749,710 | 2.2% |
| Diamondback Energy Inc(FANG) | COM | 25278X109 | $11.0M | 69,684 | 2.0% |
| Equinox Gold Corp(EQX) | COM | 29446Y502 | $10.9M | 1,562,929 | 2.0% |
| Ivanhoe Electric Inc(IE) | COM | 46578C108 | $10.8M | 1,713,186 | 2.0% |
| Oceaneering Intl Inc(OII) | COM | 675232102 | $10.2M | 470,545 | 1.9% |
| Noble Corp PLC(NE) | ORD SHS A | G65431127 | $10.1M | 404,510 | 1.8% |
| Uranium Energy Corp(UEC) | COM | 916896103 | $10.0M | 1,784,948 | 1.8% |
| Freeport-Mcmoran Inc(FCX) | CL B | 35671D857 | $9.4M | 230,701 | 1.7% |
| Alpha Metallurgical Resour I(AMR) | COM | 020764106 | $9.2M | 73,689 | 1.7% |
| Comstock RES Inc(CRK) | COM | 205768302 | $7.9M | 398,707 | 1.4% |
| Schlumberger LTD(SLB) | COM STK | 806857108 | $7.6M | 185,171 | 1.4% |
| PAN Amern Silver Corp(PAAS) | COM | 697900108 | $7.5M | 282,599 | 1.4% |
| Nexgen Energy LTD(NXE) | COM | 65340P106 | $7.4M | 1,472,899 | 1.3% |
| Valaris LTD(VAL) | CL A | G9460G101 | $6.9M | 170,940 | 1.3% |
| Civitas Resources Inc(CIVI) | COM NEW | 17888H103 | $6.8M | 189,627 | 1.2% |
| Hudbay Minerals Inc(HBM) | COM | 443628102 | $6.6M | 797,648 | 1.2% |
| Intrepid Potash Inc(IPI) | COM | 46121Y201 | $6.2M | 213,977 | 1.1% |
| Denison Mines Corp(DNN) | COM | 248356107 | $5.8M | 3,793,204 | 1.1% |
| Energy Fuels Inc(UUUU) | COM NEW | 292671708 | $5.1M | 1,171,222 | 0.9% |
| Ur-Energy Inc(URG) | COM | 91688R108 | $3.1M | 3,220,120 | 0.6% |
| Transocean LTD(RIG) | REGISTERED SHS | H8817H100 | $2.8M | 876,712 | 0.5% |
| Caledonia MNG Corp PLC(CMCL) | SHS NEW | G1757E113 | $2.7M | 232,034 | 0.5% |
| Borr Drilling LTD(BORR) | SHS | G1466R173 | $2.6M | 1,056,112 | 0.5% |
| Trilogy Metals Inc New(TMQ) | COM | 89621C105 | $2.3M | 1,402,797 | 0.4% |
| Triple Flag Precious Metal(TFPM) | COM | 89679M104 | $2.0M | 101,856 | 0.4% |
| Encore Energy Corp(EU) | COM NEW | 29259W700 | $1.9M | 1,161,923 | 0.3% |
| Novagold RES Inc(NG) | COM NEW | 66987E206 | $1.3M | 379,628 | 0.2% |