Q2 2025 Holdings
Filed 2025-08-14 | 140 holdings | $607.5M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Financial Invs TR(CCNR) | CORECOMMODITY NA | 31761T886 | $347.8M | 13,330,125 | 57.2% |
| Hudbay Minerals Inc(HBM) | COM | 443628102 | $9.0M | 851,598 | 1.5% |
| Teck Resources LTD(TECK) | CL B | 878742204 | $7.3M | 179,627 | 1.2% |
| Murphy Oil Corp(MUR) | COM | 626717102 | $6.4M | 284,873 | 1.1% |
| Array Technologies Inc(ARRY) | COM SHS | 04271T100 | $6.0M | 1,008,796 | 1.0% |
| Hecla MNG Co(HL) | COM | 422704106 | $5.4M | 903,253 | 0.9% |
| CNH Indl N V(CNH) | SHS | N20944109 | $5.2M | 165,950 | 0.9% |
| Corteva Inc(CTVA) | COM | 22052L104 | $5.1M | 68,920 | 0.8% |
| Jinkosolar Hldg Co LTD(JKS) | SPONSORED ADR | 47759T100 | $5.1M | 240,775 | 0.8% |
| Southern Copper Corp(SCCO) | COM | 84265V105 | $5.1M | 50,216 | 0.8% |
| Darling Ingredients Inc(DAR) | COM | 237266101 | $5.0M | 131,313 | 0.8% |
| Agnico Eagle Mines LTD(AEM) | COM | 008474108 | $4.8M | 40,633 | 0.8% |
| Matador RES Co(MTDR) | COM | 576485205 | $4.7M | 99,271 | 0.8% |
| Devon Energy Corp New(DVN) | COM | 25179M103 | $4.5M | 142,615 | 0.7% |
| Conocophillips(COP) | COM | 20825C104 | $4.5M | 49,960 | 0.7% |
| Alcoa Corp(AA) | COM | 013872106 | $4.2M | 141,491 | 0.7% |
| Tyson Foods Inc(TSN) | CL A | 902494103 | $4.1M | 73,702 | 0.7% |
| Archer Daniels Midland Co(ADM) | COM | 039483102 | $4.1M | 77,123 | 0.7% |
| Daqo New Energy Corp(DQ) | SPNSRD ADS NEW | 23703Q203 | $3.9M | 257,565 | 0.6% |
| Baytex Energy Corp(BTE) | COM | 07317Q105 | $3.9M | 2,157,352 | 0.6% |
| EOG RES Inc(EOG) | COM | 26875P101 | $3.7M | 31,259 | 0.6% |
| First Solar Inc(FSLR) | COM | 336433107 | $3.7M | 22,417 | 0.6% |
| Century Alum Co(CENX) | COM | 156431108 | $3.7M | 203,908 | 0.6% |
| Newmont Corp(NEM) | COM | 651639106 | $3.7M | 62,931 | 0.6% |
| West Fraser Timber Co LTD(WFG) | COM | 952845105 | $3.5M | 48,032 | 0.6% |
| Pilgrims Pride Corp(PPC) | COM | 72147K108 | $3.5M | 77,298 | 0.6% |
| Coterra Energy Inc(CTRA) | COM | 127097103 | $3.3M | 131,349 | 0.5% |
| Ingredion Inc(INGR) | COM | 457187102 | $3.2M | 23,958 | 0.5% |
| Shoals Technologies Group in(SHLS) | CL A | 82489W107 | $3.2M | 755,471 | 0.5% |
| Warrior MET Coal Inc(HCC) | COM | 93627C101 | $3.1M | 66,552 | 0.5% |
| Suncor Energy Inc New(SU) | COM | 867224107 | $3.0M | 81,360 | 0.5% |
| Compania de Minas Buenaventu(BVN) | SPONSORED ADR | 204448104 | $3.0M | 184,217 | 0.5% |
| Cenovus Energy Inc(CVE) | COM | 15135U109 | $2.9M | 214,734 | 0.5% |
| SM Energy Co(SM) | COM | 78454L100 | $2.9M | 117,263 | 0.5% |
| Helmerich & Payne Inc(HP) | COM | 423452101 | $2.9M | 190,293 | 0.5% |
| Civitas Resources Inc(CIVI) | COM NEW | 17888H103 | $2.9M | 104,769 | 0.5% |
| Liberty Energy Inc(LBRT) | COM CL A | 53115L104 | $2.9M | 250,979 | 0.5% |
| Talos Energy Inc(TALO) | COM | 87484T108 | $2.9M | 339,110 | 0.5% |
| Patterson-Uti Energy Inc(PTEN) | COM | 703481101 | $2.7M | 460,641 | 0.4% |
| Permian Resources Corp(PR) | CLASS A COM | 71424F105 | $2.7M | 198,094 | 0.4% |
| California RES Corp(CRC) | COM STOCK | 13057Q305 | $2.6M | 57,328 | 0.4% |
| Propetro Hldg Corp(PUMP) | COM | 74347M108 | $2.6M | 429,497 | 0.4% |
| FMC Corp(FMC) | COM NEW | 302491303 | $2.5M | 60,829 | 0.4% |
| Tidewater Inc New(TDW) | COM | 88642R109 | $2.5M | 54,819 | 0.4% |
| Magnolia Oil & Gas Corp(MGY) | CL A | 559663109 | $2.5M | 111,417 | 0.4% |
| Vermilion Energy Inc(VET) | COM | 923725105 | $2.4M | 331,464 | 0.4% |
| Chord Energy Corporation(CHRD) | COM NEW | 674215207 | $2.3M | 24,203 | 0.4% |
| Eldorado Gold Corp New(EGO) | COM | 284902509 | $2.3M | 113,913 | 0.4% |
| Deere & Co(DE) | COM | 244199105 | $2.3M | 4,460 | 0.4% |
| Centerra Gold Inc(CGAU) | COM | 152006102 | $2.2M | 308,244 | 0.4% |