Q3 2025 Holdings
Filed 2025-11-10 | 16 holdings | $179.5M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr Gold TR(GLD)Put | GOLD SHS | 78463V107 | $53.3M | 150,000 | 29.7% |
| CRH PLC(CRH) | ORD | G25508105 | $25.6M | 213,349 | 14.3% |
| Franco NEV Corp(FNV) | COM | 351858105 | $14.2M | 63,812 | 7.9% |
| Navios Maritime Partners L P(NMM)Call | COM UNIT LPI | Y62267409 | $14.0M | 310,000 | 7.8% |
| Royal Gold Inc(RGLD) | COM | 780287108 | $11.8M | 58,805 | 6.6% |
| Kaspi KZ JSC(KSPI) | SPONSORED ADS | 48581R205 | $9.5M | 115,880 | 5.3% |
| Navios Maritime Partners L P(NMM) | COM UNIT LPI | Y62267409 | $9.1M | 201,776 | 5.1% |
| Icon PLC(ICLR) | SHS | G4705A100 | $6.8M | 38,934 | 3.8% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $6.7M | 10,000 | 3.7% |
| Star Bulk Carriers Corp(SBLK) | SHS PAR | Y8162K204 | $6.1M | 328,390 | 3.4% |
| Ishares Silver TR(SLV) | ISHARES | 46428Q109 | $5.2M | 123,277 | 2.9% |
| Hafnia LTD | ORD SHS | G4233B109 | $4.9M | 825,376 | 2.8% |
| Frontline PLC(FRO) | COM | M46528101 | $4.8M | 210,332 | 2.7% |
| Ferguson Enterprises Inc(FERG) | COM | 31488V107 | $3.5M | 15,386 | 1.9% |
| First Ctzns Bancshares Inc N(FCNCA) | CL A | 31946M103 | $2.7M | 1,537 | 1.5% |
| Seabridge Gold Inc(SA) | COM | 811916105 | $1.3M | 53,142 | 0.7% |