Q2 2023 Holdings
Filed 2023-07-24 | 140 holdings | $1.7B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Delta AIR LI(DAL) | COM NEW | 247361702 | $217.3M | 4,570,483 | 12.9% |
| American Airline(AAL) | COM | 02376R102 | $206.8M | 11,529,374 | 12.3% |
| Southwest AIR(LUV) | COM | 844741108 | $205.3M | 5,668,358 | 12.2% |
| United Airlines(UAL) | COM | 910047109 | $193.7M | 3,530,222 | 11.5% |
| Hawaiian Holding(HAN) | COM | 419879101 | $62.7M | 5,826,005 | 3.7% |
| Jetblue Airways(JBLU) | COM | 477143101 | $62.1M | 7,010,554 | 3.7% |
| Skywest Inc(SKYW) | COM | 830879102 | $61.4M | 1,508,208 | 3.6% |
| Allegiant Travel(ALGT) | COM | 01748X102 | $60.2M | 476,680 | 3.6% |
| SUN Country Hold(SNCY) | COM | 866683105 | $59.4M | 2,641,887 | 3.5% |
| Alaska AIR Group(ALK) | COM | 011659109 | $57.6M | 1,084,020 | 3.4% |
| Frontier Group H(ULCC) | COM | 35909R108 | $53.9M | 5,575,210 | 3.2% |
| Textron Inc(TXT) | COM | 883203101 | $36.5M | 540,139 | 2.2% |
| AIR Transport SE(ATSG*) | COM | 00922R105 | $36.2M | 1,918,457 | 2.1% |
| Boeing Co(BA) | COM | 097023105 | $35.0M | 165,912 | 2.1% |
| General Dynamics(GD) | COM | 369550108 | $34.9M | 162,432 | 2.1% |
| Tripadvisor Inc(TRIP) | COM | 896945201 | $34.5M | 2,092,358 | 2.0% |
| Booking Holdings(BKNG) | COM | 09857L108 | $34.5M | 12,758 | 2.0% |
| Expedia Group in(EXPE) | COM NEW | 30212P303 | $33.5M | 306,496 | 2.0% |
| Ryanair Hldg(RYAAY) | SPONSORED ADS | 783513203 | $17.7M | 160,157 | 1.1% |
| Trip.com GRO(CLV) | ADS | 89677Q107 | $16.8M | 479,652 | 1.0% |
| Franco NEV Corp(FNV) | COM | 351858105 | $11.5M | 80,671 | 0.7% |
| Royal Gold Inc(RGLD) | COM | 780287108 | $11.3M | 98,498 | 0.7% |
| Wheaton Precious(WPM) | COM | 962879102 | $10.8M | 250,236 | 0.6% |
| Azul SA | SPONSR ADR PFD | 05501U106 | $9.9M | 720,114 | 0.6% |
| Copa Holdin(CPA) | CL A | P31076105 | $8.6M | 77,969 | 0.5% |
| Embraer SA(EMBJ) | SPONSORED ADS | 29082A107 | $8.5M | 549,794 | 0.5% |
| Grupo Aeropo(ASR) | SPON ADR SER B | 40051E202 | $8.5M | 30,585 | 0.5% |
| Sandstorm Gold LTD(AYS1) | COM NEW | 80013R206 | $5.4M | 1,051,286 | 0.3% |
| Harmony Gold Mining Co LTD(HAM) | SPONSORED ADR | 413216300 | $5.0M | 1,183,592 | 0.3% |
| Gold Fields LTD(EDG) | SPONSORED ADR | 38059T106 | $4.8M | 344,286 | 0.3% |
| Drdgold Limited(DRD) | SPON ADR REPSTG | 26152H301 | $4.5M | 426,000 | 0.3% |
| Sibanye Stillwater LTD(SBSW) | SPONSORED ADR | 82575P107 | $4.2M | 670,486 | 0.2% |
| VOX Royalty Corp(VOXR) | COM | 92919F103 | $4.1M | 1,700,000 | 0.2% |
| Osisko Gold Roya(OREUR) | COM | 68827L101 | $4.0M | 260,665 | 0.2% |
| Anglogold AS(AU3EUR) | SPONSORED ADR | 035128206 | $3.2M | 151,319 | 0.2% |
| Equinox Gold COR(EQX) | COM | 29446Y502 | $2.9M | 632,593 | 0.2% |
| New Gold Inc(NGD) | COM | 644535106 | $2.8M | 2,617,493 | 0.2% |
| Iamgold Corp(IAG) | COM | 450913108 | $2.7M | 1,033,680 | 0.2% |
| Alamos Gold Inc New(AGI) | COM CL A | 011532108 | $2.7M | 225,000 | 0.2% |
| Tesla Inc(TSLA) | COM | 88160R101 | $2.4M | 9,265 | 0.1% |
| EMX Royalty Corp(EMX) | COM | 26873J107 | $2.4M | 1,250,000 | 0.1% |
| Kinross Gold Corp(KGC) | COM | 496902404 | $2.4M | 500,000 | 0.1% |
| Agnico Eagle Mines LTD(AEM) | COM | 008474108 | $2.2M | 45,000 | 0.1% |
| Marriott Intl Inc New(MAR) | CL A | 571903202 | $2.0M | 11,100 | 0.1% |
| Hilton Worldwide Hldgs Inc(HLT) | COM | 43300A203 | $1.7M | 12,000 | 0.1% |
| JPMorgan Chase & Co(JPM) | COM | 46625H100 | $1.7M | 12,000 | 0.1% |
| LAS Vegas Sands Corp(LVS) | COM | 517834107 | $1.7M | 30,000 | 0.1% |
| PAN Amern Silver Corp(PAAS) | COM | 697900108 | $1.7M | 115,000 | 0.1% |
| Vizsla Silver Co | COM NEW | 92859G202 | $1.4M | 1,125,000 | 0.1% |
| Sabine Royalty TR(SBR) | UNIT BEN INT | 785688102 | $1.3M | 20,000 | 0.1% |