Q3 2025 Holdings
Filed 2025-11-14 | 42 holdings | $131.7M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| National Energy Services REU(NESR) | SHS | G6375R107 | $15.3M | 1,488,697 | 11.6% |
| BKV Corp(BKV) | COM | 05603J108 | $6.5M | 279,857 | 4.9% |
| Cameco Corp(CCJ) | COM | 13321L108 | $5.7M | 68,460 | 4.4% |
| Solaris Energy Infras Inc(SEI) | COM CL A | 83418M103 | $5.6M | 139,472 | 4.2% |
| Cenovus Energy Inc(CVE) | COM | 15135U109 | $5.4M | 320,000 | 4.1% |
| Core Natural Resources Inc(CNR) | COM SHS | 218937100 | $5.0M | 60,000 | 3.8% |
| Nexgen Energy LTD(NXE) | COM | 65340P106 | $4.9M | 550,000 | 3.7% |
| Golar LNG LTD(GLNG) | SHS | G9456A100 | $4.8M | 120,000 | 3.7% |
| Delek US Hldgs Inc New(DK) | COM | 24665A103 | $4.8M | 150,000 | 3.7% |
| Denison Mines Corp(DNN) | COM | 248356107 | $4.7M | 1,700,000 | 3.6% |
| Excelerate Energy Inc(EE) | CL A COM | 30069T101 | $4.5M | 180,000 | 3.4% |
| Gulfport Energy Corp(GPOR) | COMMON SHARES | 402635502 | $4.0M | 22,000 | 3.0% |
| Wheaton Precious Metals Corp(WPM) | COM | 962879102 | $3.9M | 35,000 | 3.0% |
| Orla MNG LTD New(ORLA) | COM | 68634K106 | $3.8M | 356,342 | 2.9% |
| Freeport-Mcmoran Inc(FCX) | CL B | 35671D857 | $3.1M | 80,000 | 2.4% |
| PAN Amern Silver Corp(PAAS) | COM | 697900108 | $3.1M | 80,000 | 2.4% |
| Expro Group Holdings NV(XPRO) | COM | N3144W105 | $3.0M | 250,000 | 2.3% |
| Iamgold Corp(IAG) | COM | 450913108 | $2.9M | 225,000 | 2.2% |
| International Seaways Inc(INSW) | COM | Y41053102 | $2.8M | 60,000 | 2.1% |
| Frontline PLC(FRO) | COM | M46528101 | $2.7M | 120,000 | 2.1% |
| Oklo Inc(OKLO) | COM CL A | 02156V109 | $2.5M | 22,075 | 1.9% |
| HUT 8 Corp(HUT) | COM | 44812J104 | $2.4M | 70,000 | 1.9% |
| Peabody Energy Corp(BTU) | COM | 704551100 | $2.1M | 79,246 | 1.6% |
| Waterbridge Infrastructure L(WBI) | CL A SHS REPSTG | 940923105 | $2.0M | 80,000 | 1.5% |
| Ur-Energy Inc(URG) | COM | 91688R108 | $1.9M | 1,050,000 | 1.4% |
| Innovex International Inc(INVX) | COM | 457651107 | $1.9M | 100,000 | 1.4% |
| Liberty Energy Inc(LBRT) | COM CL A | 53115L104 | $1.9M | 150,000 | 1.4% |
| Navios Maritime Partners L P(NMM) | COM UNIT LPI | Y62267409 | $1.8M | 40,000 | 1.4% |
| Core Scientific Inc New(CORZ) | COM | 21874A106 | $1.8M | 100,000 | 1.4% |
| Global X FDS(SIL) | GLOBAL X SILVER | 37954Y848 | $1.8M | 25,000 | 1.4% |
| Franco NEV Corp(FNV) | COM | 351858105 | $1.8M | 8,000 | 1.4% |
| Weatherford Intl PLC(WFRD) | ORD SHS | G48833118 | $1.7M | 25,000 | 1.3% |
| Ramaco RES Inc(METC) | COM CL A | 75134P600 | $1.7M | 50,000 | 1.3% |
| Civitas Resources Inc(CIVI) | COM NEW | 17888H103 | $1.6M | 50,000 | 1.2% |
| Diamondback Energy Inc(FANG) | COM | 25278X109 | $1.6M | 11,250 | 1.2% |
| EQT Corp(EQT) | COM | 26884L109 | $1.4M | 25,000 | 1.0% |
| Genco Shipping & Trading LTD(GNK) | SHS | Y2685T131 | $1.3M | 75,000 | 1.0% |
| Vaneck ETF Trust(GDX) | GOLD MINERS ETF | 92189F106 | $1.2M | 15,202 | 0.9% |
| Sable Offshore Corp(SOC) | COM SHS | 78574H104 | $1.1M | 64,717 | 0.9% |
| Encore Energy Corp(EU) | COM NEW | 29259W700 | $963.0K | 300,000 | 0.7% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $399.7K | 600 | 0.3% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $242.0K | 1,000 | 0.2% |