Q4 2025 Holdings
Filed 2026-02-13 | 27 holdings | $1.3B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Seabridge Gold Inc(SA) | COM | 811916105 | $206.5M | 6,979,611 | 16.5% |
| Range RES Corp(RRC) | COM | 75281A109 | $184.7M | 5,238,903 | 14.8% |
| KT Corp(KT) | SPONSORED ADR | 48268K101 | $109.4M | 5,768,752 | 8.7% |
| Nutrien LTD(NTR) | COM | 67077M108 | $108.2M | 1,753,659 | 8.6% |
| Centene Corp del(CNC) | COM | 15135B101 | $83.3M | 2,025,052 | 6.7% |
| Franklin Resources Inc(BEN) | COM | 354613101 | $80.5M | 3,369,165 | 6.4% |
| Novagold RES Inc(NG) | COM NEW | 66987E206 | $78.6M | 8,429,379 | 6.3% |
| Expand Energy Corporation(EXE) | COM | 165167735 | $75.2M | 681,579 | 6.0% |
| Cresud S A C I F Y A(CD8) | SPONSORED ADR | 226406106 | $53.6M | 4,246,881 | 4.3% |
| SLB Limited(SLB) | COM STK | 806857108 | $50.1M | 1,306,620 | 4.0% |
| Royal Gold Inc(RGLD) | COM | 780287108 | $46.6M | 209,678 | 3.7% |
| Northern Dynasty Minerals LT(NAK) | COM NEW | 66510M204 | $42.7M | 21,661,178 | 3.4% |
| International Tower Hill MIN(THM) | COM | 46050R102 | $26.9M | 14,448,418 | 2.1% |
| Barrick MNG Corp(B) | COM SHS | 06849F108 | $25.7M | 590,051 | 2.1% |
| Molina Healthcare Inc(MOH) | COM | 60855R100 | $21.8M | 125,534 | 1.7% |
| Comcast Corp New(CMCSA) | CL A | 20030N101 | $19.4M | 649,213 | 1.5% |
| AIR Lease Corp(AL) | CL A | 00912X302 | $18.3M | 285,013 | 1.5% |
| Ivanhoe Electric Inc(IE) | COM | 46578C108 | $6.9M | 428,752 | 0.5% |
| Vista Gold Corp(VGZ) | COM NEW | 927926303 | $4.9M | 2,466,589 | 0.4% |
| Korea Elec PWR Corp(KEP) | SPONSORED ADR | 500631106 | $4.4M | 268,151 | 0.4% |
| Newmont Corp(NEM) | COM | 651639106 | $2.3M | 23,201 | 0.2% |
| Irsa Inversiones Y REP S A(IRS) | SPON GDS ECH 10 | 450047303 | $1.4M | 85,366 | 0.1% |
| Autozone Inc(AZO)Put | COM | 053332102 | $213.6K | 400 | 0.0% |
| Paychex Inc(PAYX)Put | COM | 704326107 | $179.2K | 5,600 | 0.0% |
| Abbvie Inc(ABBV)Put | COM | 00287Y109 | $84.2K | 4,600 | 0.0% |
| Apple Inc(AAPL)Put | COM | 037833100 | $77.0K | 5,000 | 0.0% |
| Amgen Inc(AMGN)Put | COM | 031162100 | $465 | 3,100 | 0.0% |