Q4 2025 Holdings
Filed 2026-02-13 | 22 holdings | $256.2M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Hecla MNG Co(HL) | COM | 422704106 | $19.0M | 992,600 | 7.4% |
| Sprott Asset Management LP(PSLV/U) | PHYSICAL SILVER | 85207K107 | $18.7M | 790,900 | 7.3% |
| PAN Amern Silver Corp(PAAS) | COM | 697900108 | $18.5M | 358,000 | 7.2% |
| Centerra Gold Inc(CGAU) | COM | 152006102 | $18.0M | 1,252,700 | 7.0% |
| Royal Gold Inc(RGLD) | COM | 780287108 | $15.8M | 71,040 | 6.2% |
| Coeur MNG Inc(CDE) | COM NEW | 192108504 | $15.6M | 872,400 | 6.1% |
| Sibanye Stillwater LTD(SBSW) | SPONSORED ADR | 82575P107 | $15.3M | 1,075,500 | 6.0% |
| First Majestic Silver Corp(AG) | COM | 32076V103 | $15.3M | 916,100 | 6.0% |
| Alamos Gold Inc New(AGI) | COM CL A | 011532108 | $15.2M | 392,700 | 5.9% |
| Agnico Eagle Mines LTD(AEM) | COM | 008474108 | $15.0M | 88,400 | 5.8% |
| Taseko Mines LTD(TGB) | COM | 876511106 | $14.8M | 2,610,000 | 5.8% |
| Sprott Asset Management LP(SPPP) | PHYSICAL PLATINU | 85207Q104 | $14.0M | 831,600 | 5.5% |
| Antero Resources Corp(AR) | COM | 03674X106 | $13.8M | 400,000 | 5.4% |
| Corecivic Inc(CXW) | COM | 21871N101 | $13.0M | 677,700 | 5.1% |
| EQT Corp(EQT) | COM | 26884L109 | $10.4M | 194,000 | 4.1% |
| Exxon Mobil Corp(XOM) | COM | 30231G102 | $5.6M | 46,500 | 2.2% |
| Range RES Corp(RRC) | COM | 75281A109 | $5.2M | 148,420 | 2.0% |
| Expand Energy Corporation(EXE) | COM | 165167735 | $5.2M | 47,300 | 2.0% |
| Seabridge Gold Inc(SA) | COM | 811916105 | $5.2M | 127,300 | 2.0% |
| United States Antimony Corp(UAMY) | COM | 911549103 | $1.0M | 203,900 | 0.4% |
| Chemours Co(CC) | COM | 163851108 | $844.2K | 71,600 | 0.3% |
| Terra Innovatum Global NV(NKLR) | ORD SHS | N85083108 | $798.8K | 172,900 | 0.3% |