Q3 2023 Holdings
Filed 2023-10-18 | 151 holdings | $1.2B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| American Airline(AAL) | COM | 02376R102 | $136.7M | 10,674,111 | 11.3% |
| Delta AIR LI(DAL) | COM NEW | 247361702 | $135.5M | 3,660,873 | 11.2% |
| Southwest AIR(LUV) | COM | 844741108 | $134.6M | 4,971,879 | 11.1% |
| United Airlines(UAL) | COM | 910047109 | $133.4M | 3,154,729 | 11.0% |
| SUN Country Hold(SNCY) | COM | 866683105 | $45.7M | 3,082,235 | 3.8% |
| Skywest Inc(SKYW) | COM | 830879102 | $43.9M | 1,047,416 | 3.6% |
| Alaska AIR Group(ALK) | COM | 011659109 | $42.0M | 1,133,750 | 3.5% |
| Allegiant Travel(ALGT) | COM | 01748X102 | $40.3M | 524,211 | 3.3% |
| Hawaiian Holding(HAN) | COM | 419879101 | $36.7M | 5,800,720 | 3.0% |
| Jetblue Airways(JBLU) | COM | 477143101 | $36.2M | 7,877,417 | 3.0% |
| Frontier Group H(ULCC) | COM | 35909R108 | $34.7M | 7,178,180 | 2.9% |
| Tripadvisor Inc(TRIP) | COM | 896945201 | $31.7M | 1,913,724 | 2.6% |
| Textron Inc(TXT) | COM | 883203101 | $31.2M | 398,911 | 2.6% |
| General Dynamics(GD) | COM | 369550108 | $30.4M | 137,394 | 2.5% |
| Booking Holdings(BKNG) | COM | 09857L108 | $30.0M | 9,729 | 2.5% |
| AIR Transport SE(ATSG*) | COM | 00922R105 | $29.9M | 1,432,125 | 2.5% |
| Expedia Group in(EXPE) | COM NEW | 30212P303 | $28.9M | 280,138 | 2.4% |
| Boeing Co(BA) | COM | 097023105 | $26.3M | 137,065 | 2.2% |
| Ryanair Hldg(RYAAY) | SPONSORED ADS | 783513203 | $15.0M | 154,505 | 1.2% |
| Trip.com GRO(CLV) | ADS | 89677Q107 | $14.2M | 405,552 | 1.2% |
| Copa Holdin(CPA) | CL A | P31076105 | $13.3M | 149,603 | 1.1% |
| Royal Gold Inc(RGLD) | COM | 780287108 | $9.9M | 92,869 | 0.8% |
| Franco NEV Corp(FNV) | COM | 351858105 | $9.6M | 72,128 | 0.8% |
| Wheaton Precious(WPM) | COM | 962879102 | $9.4M | 230,787 | 0.8% |
| Makemytrip LTD(MMYT) | SHS | V5633W109 | $8.0M | 197,693 | 0.7% |
| Azul SA | SPONSR ADR PFD | 05501U106 | $7.7M | 892,462 | 0.6% |
| Grupo Aeropo(G7A) | SPON ADR SER B | 400501102 | $7.2M | 29,201 | 0.6% |
| Embraer SA(EMBJ) | SPONSORED ADS | 29082A107 | $6.8M | 493,719 | 0.6% |
| Harmony Gold Mining Co LTD(HAM) | SPONSORED ADR | 413216300 | $4.3M | 1,140,054 | 0.4% |
| Sandstorm Gold(AYS1) | COM NEW | 80013R206 | $4.0M | 862,036 | 0.3% |
| Gold Fields LTD(EDG) | SPONSORED ADR | 38059T106 | $3.9M | 357,209 | 0.3% |
| Drdgold Limited(DRD) | SPON ADR REPSTG | 26152H301 | $3.6M | 431,822 | 0.3% |
| Osisko Gold Roya(OREUR) | COM | 68827L101 | $3.5M | 295,546 | 0.3% |
| Sibanye Stillwater LTD(SBSW) | SPONSORED ADR | 82575P107 | $3.5M | 562,554 | 0.3% |
| VOX Royalty Corp(VOXR) | COM | 92919F103 | $3.4M | 1,700,000 | 0.3% |
| Centerra Gold in(CGAU) | COM | 152006102 | $3.1M | 641,648 | 0.3% |
| Eldorado Gold(EGO) | COM | 284902509 | $3.1M | 346,004 | 0.3% |
| Alamos Gold Inc New(AGI) | COM CL A | 011532108 | $2.5M | 225,000 | 0.2% |
| B2gold Corp(BTG) | COM | 11777Q209 | $2.5M | 855,133 | 0.2% |
| New Gold Inc(NGD) | COM | 644535106 | $2.3M | 2,566,901 | 0.2% |
| Kinross Gold Corp(KGC) | COM | 496902404 | $2.3M | 500,000 | 0.2% |
| EMX Royalty Corp(EMX) | COM | 26873J107 | $2.3M | 1,250,000 | 0.2% |
| Tesla Inc(TSLA) | COM | 88160R101 | $2.2M | 8,844 | 0.2% |
| Agnico Eagle Mines LTD(AEM) | COM | 008474108 | $2.0M | 45,000 | 0.2% |
| Marriott Intl Inc New(MAR) | CL A | 571903202 | $1.9M | 9,700 | 0.2% |
| JPMorgan Chase & Co(JPM) | COM | 46625H100 | $1.7M | 12,000 | 0.1% |
| PAN Amern Silver Corp(PAAS) | COM | 697900108 | $1.7M | 115,000 | 0.1% |
| Hilton Worldwide Hldgs Inc(HLT) | COM | 43300A203 | $1.6M | 10,500 | 0.1% |
| LAS Vegas Sands Corp(LVS) | COM | 517834107 | $1.3M | 29,000 | 0.1% |
| Sabine Royalty TR(SBR) | UNIT BEN INT | 785688102 | $1.3M | 20,000 | 0.1% |