Q4 2025 Holdings
Filed 2026-02-18 | 154 holdings | $1.7B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Newmont Corp(NEM) | COM | 651639106 | $206.8M | 2,071,317 | 11.9% |
| Teck Resources Ltd(TECK) | CL B | 878742204 | $168.6M | 3,521,364 | 9.7% |
| Freeport-McMoRan Inc(FCX) | CL B | 35671D857 | $162.1M | 3,191,258 | 9.3% |
| Apollo Global Management Inc(APO) | COM | 03769M106 | $143.2M | 989,104 | 8.3% |
| Bank of America Corp(BAC) | COM | 060505104 | $125.8M | 2,287,781 | 7.3% |
| Royalty Pharma PLC(RPRX) | SHS CLASS A | G7709Q104 | $102.0M | 2,640,708 | 5.9% |
| Wynn Resorts Ltd(WYNN) | COM | 983134107 | $96.9M | 805,646 | 5.6% |
| Sanofi SA(SNY) | SPONSORED ADR | 80105N105 | $92.6M | 1,911,650 | 5.3% |
| Union Pacific Corp(UNP) | COM | 907818108 | $62.8M | 271,649 | 3.6% |
| Wells Fargo & Co(WFC) | COM | 949746101 | $56.3M | 604,596 | 3.2% |
| Alphabet Inc(GOOG) | CAP STK CL C | 02079K107 | $51.8M | 165,119 | 3.0% |
| Truist Financial Corp(TFC) | COM | 89832Q109 | $45.2M | 917,804 | 2.6% |
| Barrick Mining Corp(B) | COM SHS | 06849F108 | $36.3M | 833,279 | 2.1% |
| Cameco Corp(CCJ) | COM | 13321L108 | $34.4M | 375,990 | 2.0% |
| Nano Nuclear Energy Inc(NNE) | COM | 63010H108 | $23.5M | 980,201 | 1.4% |
| Gold Royalty Corp(GROY) | COMMON SHARES | 38071H106 | $23.5M | 5,712,223 | 1.4% |
| Amazon.com Inc(AMZN) | COM | 023135106 | $22.6M | 97,860 | 1.3% |
| Kinross Gold Corp(KGC) | COM | 496902404 | $22.5M | 798,408 | 1.3% |
| Inspire Medical Systems Inc(INSP) | COM | 457730109 | $19.5M | 211,304 | 1.1% |
| GE HealthCare Technologies Inc(GEHC) | COMMON STOCK | 36266G107 | $18.6M | 227,363 | 1.1% |
| Southern Copper Corp(SCCO) | COM | 84265V105 | $15.5M | 108,081 | 0.9% |
| Agnico Eagle Mines Ltd(AEM) | COM | 008474108 | $14.8M | 87,096 | 0.9% |
| Tradeweb Markets Inc(TW) | CL A | 892672106 | $11.4M | 105,761 | 0.7% |
| Sprott Inc(SII) | COM NEW | 852066208 | $10.1M | 102,807 | 0.6% |
| Equinox Gold Corp(EQX) | COM | 29446Y502 | $8.9M | 633,462 | 0.5% |
| Hycroft Mining Holding Corp(HYMC) | CL A NEW | 44862P208 | $7.5M | 314,677 | 0.4% |
| Salesforce Inc(CRM) | COM | 79466L302 | $7.2M | 27,314 | 0.4% |
| Hudbay Minerals Inc(HBM) | COM | 443628102 | $6.7M | 339,975 | 0.4% |
| Peabody Energy Corp(BTU) | COM | 704551100 | $6.3M | 212,440 | 0.4% |
| B2Gold Corp(BTG) | COM | 11777Q209 | $6.2M | 1,370,464 | 0.4% |
| Taseko Mines Ltd(TGB) | COM | 876511106 | $5.7M | 1,000,000 | 0.3% |
| Uranium Energy Corp(UEC) | COM | 916896103 | $5.4M | 465,780 | 0.3% |
| Iren Ltd(IREN) | ORDINARY SHARES | Q4982L109 | $5.3M | 141,457 | 0.3% |
| AppLovin Corp(APP) | COM CL A | 03831W108 | $5.0M | 7,438 | 0.3% |
| Albemarle Corp(ALB) | COM | 012653101 | $4.2M | 29,595 | 0.2% |
| Core Natural Resources Inc(CNR) | COM SHS | 218937100 | $4.1M | 46,863 | 0.2% |
| State Street Financial Select(XLF) | STATE STREET FIN | 81369Y605 | $3.8M | 69,346 | 0.2% |
| Meta Platforms Inc(META) | CL A | 30303M102 | $3.8M | 5,720 | 0.2% |
| Sezzle Inc(SEZL) | COM | 78435P105 | $3.7M | 59,054 | 0.2% |
| Steel Dynamics Inc(STLD) | COM | 858119100 | $3.7M | 21,861 | 0.2% |
| Warrior Met Coal Inc(HCC) | COM | 93627C101 | $3.7M | 41,547 | 0.2% |
| NU Holdings Ltd an Islands(NU) | ORD SHS CL A | G6683N103 | $3.4M | 201,390 | 0.2% |
| Dave Inc(DAVE) | CLASS A COM NEW | 23834J201 | $3.3M | 15,001 | 0.2% |
| State Street Utilities Select(XLU) | STATE STREET UTI | 81369Y886 | $3.3M | 77,698 | 0.2% |
| Nucor Corp(NUE) | COM | 670346105 | $3.1M | 19,291 | 0.2% |
| VanEck Gold Miners ETF(GDX) | GOLD MINERS ETF | 92189F106 | $3.0M | 35,551 | 0.2% |
| Viper Energy Inc(VNOM) | CL A | 64361Q101 | $2.9M | 75,130 | 0.2% |
| Alcoa Corp(AA) | COM | 013872106 | $2.8M | 53,390 | 0.2% |
| Cipher Mining Inc(CIFR) | COM | 17253J106 | $2.7M | 180,000 | 0.2% |
| News Corp(NWS) | CL B | 65249B208 | $2.5M | 85,213 | 0.1% |