Q1 2025 Holdings
Filed 2025-05-15 | 112 holdings | $17.5B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↑ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Newmont Corp(NEM) | COM | 651639106 | $273.9M | 5,672,683 | 1.6% |
| Spdr Gold TR(GLD) | GOLD SHS | 78463V107 | $274.2M | 951,603 | 1.6% |
| PDD Holdings Inc(PDD) | SPONSORED ADS | 722304102 | $283.7M | 2,397,312 | 1.6% |
| XPO Inc(XPO) | COM | 983793100 | $290.2M | 2,697,161 | 1.7% |
| Baidu Inc(BIDUN) | SPON ADR REP A | 056752108 | $297.8M | 3,236,111 | 1.7% |
| Franco NEV Corp(FNV) | COM | 351858105 | $302.4M | 1,918,952 | 1.7% |
| Vale S A(VALE) | SPONSORED ADS | 91912E105 | $312.0M | 31,257,989 | 1.8% |
| Global Pmts Inc(GPN) | COM | 37940X102 | $315.5M | 3,222,435 | 1.8% |
| Motorola Solutions Inc(MSI) | COM NEW | 620076307 | $322.3M | 736,093 | 1.8% |
| Nebius Group N.V.(NBIS) | SHS CLASS A | N97284108 | $331.5M | 15,702,222 | 1.9% |
| AES Corp(AES) | COM | 00130H105 | $341.8M | 27,518,952 | 2.0% |
| Unitedhealth Group Inc(UNH) | COM | 91324P102 | $348.4M | 665,142 | 2.0% |
| Steris PLC(STE) | SHS USD | G8473T100 | $350.0M | 1,544,011 | 2.0% |
| Disney Walt Co(DIS) | COM | 254687106 | $354.2M | 3,588,463 | 2.0% |
| Microchip Technology Inc.(MCHP) | COM | 595017104 | $369.6M | 7,635,024 | 2.1% |
| Netease Inc(NTES) | SPONSORED ADS | 64110W102 | $377.2M | 3,664,973 | 2.2% |
| Renaissancere Hldgs LTD(RNR) | COM | G7496G103 | $419.6M | 1,748,169 | 2.4% |
| Alnylam Pharmaceuticals Inc(ALNY) | COM | 02043Q107 | $441.5M | 1,634,923 | 2.5% |
| Smurfit Westrock PLC(SW) | SHS | G8267P108 | $455.7M | 10,114,213 | 2.6% |
| Shell PLC(SHEL) | SPON ADS | 780259305 | $473.1M | 6,456,363 | 2.7% |
| British Amern TOB PLC(BMTA) | SPONSORED ADR | 110448107 | $497.3M | 12,021,231 | 2.8% |
| GXO Logistics Incorporated(GXO) | COMMON STOCK | 36262G101 | $526.5M | 13,473,172 | 3.0% |
| RXO Inc(RXO) | COMMON STOCK | 74982T103 | $577.4M | 30,232,511 | 3.3% |
| Interactive Brokers Group in(IBKR) | COM CL A | 45841N107 | $578.5M | 3,493,357 | 3.3% |
| Kinder Morgan Inc del(KMI) | COM | 49456B101 | $626.6M | 21,964,323 | 3.6% |
| Elevance Health Inc(ELV) | COM | 036752103 | $1.2B | 2,849,173 | 7.1% |
| Corpay Inc(CPAY) | COM SHS | 219948106 | $1.3B | 3,731,221 | 7.4% |
| QXO Inc(QXO) | COM NEW | 82846H405 | $1.5B | 109,409,191 | 8.5% |