Q2 2026 Holdings
Filed 2026-07-27 | 146 holdings | $1.0B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| American Airline(AAL) | COM | 02376R102 | $108.4M | 6,001,172 | 10.4% |
| United Airlines(UAL) | COM | 910047109 | $106.2M | 780,724 | 10.2% |
| Southwest AIR(LUV) | COM | 844741108 | $102.1M | 1,985,637 | 9.8% |
| Delta AIR LI(DAL) | COM NEW | 247361702 | $100.7M | 1,075,013 | 9.7% |
| Allegiant Travel(ALGT) | COM | 01748X102 | $40.8M | 347,245 | 3.9% |
| Frontier Group H(ULCC) | COM | 35909R108 | $38.9M | 4,914,655 | 3.7% |
| Jetblue Airways(JBLU) | COM | 477143101 | $34.4M | 5,996,231 | 3.3% |
| Alaska AIR Group(ALK) | COM | 011659109 | $33.4M | 639,713 | 3.2% |
| Skywest Inc(SKYW) | COM | 830879102 | $33.1M | 333,087 | 3.2% |
| AYA Gold & Silve(AYA) | COM | 05466C109 | $21.3M | 1,125,000 | 2.0% |
| Sabre Corp(SABR) | COM | 78573M104 | $20.7M | 9,885,943 | 2.0% |
| Tripadvisor Inc(TRIP) | COM | 896945201 | $19.1M | 1,393,974 | 1.8% |
| Expedia Group in(EXPE) | COM NEW | 30212P303 | $18.9M | 73,940 | 1.8% |
| OR Royalties Inc.(OR) | COM SHS | 68390D106 | $18.4M | 580,723 | 1.8% |
| Booking Holdings(BKNG) | COM | 09857L108 | $18.1M | 101,546 | 1.7% |
| Franco NEV Corp(FNV) | COM | 351858105 | $16.8M | 80,622 | 1.6% |
| General Dynamics(GD) | COM | 369550108 | $16.4M | 46,295 | 1.6% |
| Textron Inc(TXT) | COM | 883203101 | $16.3M | 177,167 | 1.6% |
| Boeing Co(BA) | COM | 097023105 | $16.2M | 74,907 | 1.6% |
| Wheaton Precious(WPM) | COM | 962879102 | $15.7M | 139,426 | 1.5% |
| Iamgold Corp(IAG) | COM | 450913108 | $13.9M | 878,486 | 1.3% |
| Americas Gold AN(USAS) | COM NEW | 03062D803 | $12.4M | 2,625,000 | 1.2% |
| Latam Airlines G(LTM) | SPONSORED ADR | 51817R205 | $9.4M | 161,198 | 0.9% |
| Ryanair Hldg(RYAAY) | SPONSORED ADR | 783513203 | $9.0M | 139,753 | 0.9% |
| Endeavour Silver(EXK) | COM | 29258Y103 | $8.6M | 1,043,200 | 0.8% |
| PAN Amer Silver(PAAS) | COM | 697900108 | $7.9M | 176,555 | 0.8% |
| VOX Royalty Corp(VOXR) | COM | 92919F103 | $7.9M | 1,662,000 | 0.8% |
| Coeur MNG Inc(CDE) | COM NEW | 192108504 | $7.2M | 439,303 | 0.7% |
| Trip.com GRO(CLV) | ADS | 89677Q107 | $7.0M | 175,270 | 0.7% |
| Harmony Gold(HAM) | SPONSORED ADR | 413216300 | $6.5M | 428,647 | 0.6% |
| Fortuna Mining C(FSM) | COM NEW | 349942102 | $6.3M | 743,591 | 0.6% |
| Barrick MNG Corp(B) | COM SHS | 06849F108 | $6.2M | 170,000 | 0.6% |
| Aris Mining Corp(ARIS) | COM | 04040Y109 | $6.0M | 400,000 | 0.6% |
| Makemytrip LTD(MMYT) | SHS | V5633W109 | $5.3M | 99,379 | 0.5% |
| Triple Flag(TFPM) | COM | 89679M104 | $5.2M | 172,000 | 0.5% |
| Centerra Gold in(CGAU) | COM | 152006102 | $4.7M | 300,000 | 0.5% |
| Grupo Aeropo(G7A) | SPON ADR | 400501102 | $4.7M | 41,857 | 0.5% |
| Embraer SA(EMBJ) | SPONSORED ADS | 29082A107 | $4.7M | 73,982 | 0.5% |
| Agnico Eagle Mines LTD(AEM) | COM | 008474108 | $4.7M | 30,000 | 0.4% |
| Newmont Corp(NEM) | COM | 651639106 | $4.6M | 49,739 | 0.4% |
| Copa Holdin(CPA) | CL A | P31076105 | $4.6M | 29,833 | 0.4% |
| Grupo Aeropo(ASR) | SPON ADR SER B | 40051E202 | $4.5M | 14,624 | 0.4% |
| Metalla RTY & Streaming LTD(MTA) | COM NEW | 59124U605 | $4.3M | 558,500 | 0.4% |
| Avino Silver(ASM) | COM | 053906103 | $3.9M | 610,000 | 0.4% |
| Vizsla Silver Co(VZLA) | COM NEW | 92859G608 | $3.4M | 1,050,000 | 0.3% |
| Aura Minerals Inc(AUGO) | SHS NEW | G06973112 | $3.1M | 50,000 | 0.3% |
| SSR Mining in(SSRM) | COM | 784730103 | $3.1M | 110,000 | 0.3% |
| Alamos Gold Inc New(AGI) | COM CL A | 011532108 | $3.0M | 100,000 | 0.3% |
| Ferrari N V(RACE) | COM | N3167Y103 | $3.0M | 7,925 | 0.3% |
| Tesla Inc(TSLA) | COM | 88160R101 | $2.7M | 6,450 | 0.3% |