Q2 2025 Holdings
Filed 2025-08-11 | 155 holdings | $3.8B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $562.6M | 910,600 | 15.0% |
| Invesco QQQ TR(QQQ)Put | UNIT SER 1 | 46090E103 | $449.9M | 815,600 | 12.0% |
| Spdr Gold TR(GLD)Put | GOLD SHS | 78463V107 | $257.9M | 846,200 | 6.9% |
| Costco Whsl Corp New(COST)Put | COM | 22160K105 | $165.7M | 167,400 | 4.4% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $145.8M | 675,800 | 3.9% |
| Ishares TR(HYG)Put | IBOXX HI YD ETF | 464288513 | $143.6M | 1,780,000 | 3.8% |
| Ishares Silver TR(SLV)Call | ISHARES | 46428Q109 | $142.7M | 4,350,000 | 3.8% |
| Cintas Corp(CTAS)Put | COM | 172908105 | $93.2M | 418,200 | 2.5% |
| Cenovus Energy Inc(CVE)Call | COM | 15135U109 | $68.0M | 5,000,000 | 1.8% |
| Nvidia Corporation(NVDA) | COM | 67066G104 | $59.1M | 374,017 | 1.6% |
| Ishares TR(TLT)Put | 20 YR TR BD ETF | 464287432 | $58.5M | 663,200 | 1.6% |
| Centerra Gold Inc(CGAU) | COM | 152006102 | $48.2M | 6,678,897 | 1.3% |
| Stantec Inc(STN) | COM | 85472N109 | $44.6M | 410,497 | 1.2% |
| Canadian NAT RES LTD(CNQ) | COM | 136385101 | $43.9M | 1,397,570 | 1.2% |
| Hudbay Minerals Inc(HBM) | COM | 443628102 | $37.4M | 3,522,351 | 1.0% |
| Cheniere Energy Inc(LNG) | COM NEW | 16411R208 | $36.3M | 149,073 | 1.0% |
| Microsoft Corp(MSFT) | COM | 594918104 | $35.4M | 71,157 | 0.9% |
| Floor & Decor Hldgs Inc(FND) | CL A | 339750101 | $33.1M | 435,458 | 0.9% |
| Spdr S&P 500 ETF TR(SPY)Call | TR UNIT | 78462F103 | $32.9M | 53,200 | 0.9% |
| Agnico Eagle Mines LTD(AEM) | COM | 008474108 | $32.0M | 268,875 | 0.9% |
| Kinross Gold Corp(KGC) | COM | 496902404 | $32.0M | 2,045,851 | 0.9% |
| Vail Resorts Inc(MTN) | COM | 91879Q109 | $27.3M | 173,666 | 0.7% |
| Chipotle Mexican Grill Inc(CMG) | COM | 169656105 | $27.3M | 485,793 | 0.7% |
| Thomson Reuters Corp(TRI) | COM | 884903808 | $26.9M | 133,793 | 0.7% |
| Meta Platforms Inc(META) | CL A | 30303M102 | $25.7M | 34,782 | 0.7% |
| Danaher Corporation(DHR) | COM | 235851102 | $25.6M | 129,394 | 0.7% |
| Vaneck ETF Trust(GDX)Put | GOLD MINERS ETF | 92189F106 | $25.2M | 485,000 | 0.7% |
| Nexgen Energy LTD(NXE) | COM | 65340P106 | $24.6M | 3,539,978 | 0.7% |
| Procter and Gamble Co(PG) | COM | 742718109 | $24.2M | 152,100 | 0.6% |
| Martin Marietta Matls Inc(MLM) | COM | 573284106 | $24.2M | 44,017 | 0.6% |
| Comfort SYS USA Inc(FIX) | COM | 199908104 | $23.7M | 44,203 | 0.6% |
| Canadian Pacific Kansas City(CP) | COM | 13646K108 | $23.4M | 295,149 | 0.6% |
| Johnson Ctls Intl PLC(JCI) | SHS | G51502105 | $23.3M | 220,588 | 0.6% |
| Expand Energy Corporation(EXE) | COM | 165167735 | $21.2M | 181,496 | 0.6% |
| Welltower Inc(WELL) | COM | 95040Q104 | $20.9M | 135,788 | 0.6% |
| Imperial Oil LTD(IMO) | COM NEW | 453038408 | $20.8M | 262,010 | 0.6% |
| Ishares TR(TLT)Call | 20 YR TR BD ETF | 464287432 | $20.3M | 230,000 | 0.5% |
| Broadridge Finl Solutions in(BR) | COM | 11133T103 | $19.4M | 79,692 | 0.5% |
| Roper Technologies Inc(ROP) | COM | 776696106 | $19.3M | 34,019 | 0.5% |
| Sensient Technologies Corp(SXT) | COM | 81725T100 | $18.4M | 186,447 | 0.5% |
| PAN Amern Silver Corp(PAAS) | COM | 697900108 | $17.8M | 628,023 | 0.5% |
| Evercore Inc(EVR) | CLASS A | 29977A105 | $17.7M | 65,470 | 0.5% |
| FOX Corp(FOXA) | CL A COM | 35137L105 | $17.4M | 311,143 | 0.5% |
| AT&T Inc(T) | COM | 00206R102 | $17.4M | 602,277 | 0.5% |
| XPO Inc(XPO) | COM | 983793100 | $17.3M | 137,115 | 0.5% |
| Equity Lifestyle Pptys Inc(ELS) | COM | 29472R108 | $17.1M | 277,027 | 0.5% |
| Waste Connections Inc(WCN) | COM | 94106B101 | $16.8M | 89,983 | 0.4% |
| Constellation Energy Corp(CEG) | COM | 21037T109 | $16.8M | 51,967 | 0.4% |
| Cava Group Inc(CAVA) | COM | 148929102 | $16.5M | 195,445 | 0.4% |
| Sharkninja Inc(SN) | COM SHS | G8068L108 | $16.5M | 166,275 | 0.4% |