Q4 2025 Holdings
Filed 2026-02-17 | 219 holdings | $634.7M | 13F-HR | View on SEC ↗ · Holdings Table ↗
Sign in to see sub-manager breakdown
| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| First Majestic Silver Corp | NOTE 0.375% 1/1 | 32076VAD5 | $54.6M | $44,040,000 | 8.6% |
| Abrdn Platinum ETF Trust(PPLT) | PHYSCL PLATM SHS | 003260106 | $45.1M | 242,000 | 7.1% |
| Equinox Gold Corp(EQX) | NOTE 4.750%10/1 | 29446Y502 | $36.5M | $2,596,154 | 5.7% |
| Fluence Energy Inc | NOTE 2.250% 6/1 | 34379VAB9 | $34.0M | $28,000,000 | 5.4% |
| Duke Energy Corp New | NOTE 4.125% 4/1 | 26441CBY0 | $33.3M | $32,000,000 | 5.2% |
| Southern Co | NOTE 4.500% 6/1 | 842587DZ7 | $32.1M | $30,000,000 | 5.1% |
| Equinox Gold Corp | COM | 29446YAC0 | $28.5M | 12,077,000 | 4.5% |
| SSR Mining in | NOTE 2.500% 4/0 | 784730AB9 | $25.9M | $19,737,000 | 4.1% |
| NIO Inc | NOTE 3.875%10/1 | 62914VAJ5 | $24.1M | $25,270,000 | 3.8% |
| PPL Cap FDG Inc | NOTE 2.875% 3/1 | 69352PAS2 | $21.0M | $19,000,000 | 3.3% |
| NIO Inc | NOTE 4.625%10/1 | 62914VAK2 | $19.8M | $22,150,000 | 3.1% |
| Northern Oil & Gas Inc | NOTE 3.625% 4/1 | 665531AJ8 | $19.5M | $20,000,000 | 3.1% |
| Cardlytics Inc | NOTE 4.250% 4/0 | 14161WAD7 | $19.4M | $47,710,000 | 3.1% |
| Esperion Therapeutics Inc NE(ESPR) | COM | 29664W105 | $16.3M | 4,391,926 | 2.6% |
| Ishares Silver TR(SLV) | ISHARES | 46428Q109 | $15.9M | 247,500 | 2.5% |
| Telesat Corp(TSAT) | CL A & CL B SHS | 879512309 | $15.9M | 409,753 | 2.5% |
| PAR Technology Corp(PAR) | NOTE 1.500%10/1 | 698884103 | $15.2M | $417,666 | 2.4% |
| Sangoma Technologies Corp(SANG) | COM NEW | 80100R408 | $14.2M | 2,821,433 | 2.2% |
| Magnite Inc | NOTE 0.250% 3/1 | 55955DAB6 | $14.1M | $14,225,000 | 2.2% |
| Sprott Asset Management LP(PSLV/U) | PHYSICAL SILVER | 85207K107 | $13.4M | 565,000 | 2.1% |
| Wolfspeed Inc | COMMON STOCK | 977852AP7 | $12.1M | 8,125,060 | 1.9% |
| Opko Health Inc | NOTE 3.750% 1/1 | 68375NAG8 | $9.6M | $7,311,000 | 1.5% |
| Western AST Infl LKD OPP & I(WIW) | COM | 95766R104 | $8.7M | 1,015,397 | 1.4% |
| Txnm Energy Inc | COM | 69349HAF4 | $8.0M | 5,900,000 | 1.3% |
| Evolent Health Inc | NOTE 3.500%12/0 | 30050BAH4 | $5.9M | $8,769,000 | 0.9% |
| Airbnb Inc | NOTE 3/1 | 009066AB7 | $5.0M | $5,000,000 | 0.8% |
| PAR Technology Corp | COM | 698884AE3 | $4.9M | 5,000,000 | 0.8% |
| Burford Cap LTD(BUR) | ORD SHS | G17977110 | $4.4M | 497,990 | 0.7% |
| Evolent Health Inc | DEBT 4.500% 8/1 | 30050BAJ0 | $2.9M | $4,000,000 | 0.5% |
| ERO Copper Corp(ERO) | COM | 296006109 | $2.8M | 102,590 | 0.4% |
| KKR & Co Inc(KKR) | COM | 48251W104 | $2.5M | 19,740 | 0.4% |
| Webster Finl Corp(WBS) | COM | 947890109 | $2.4M | 37,838 | 0.4% |
| Nexgen Energy LTD(NXE) | COM | 65340P106 | $2.4M | 256,800 | 0.4% |
| Hexcel Corp New(HXL) | COM | 428291108 | $2.3M | 31,723 | 0.4% |
| Standardaero Inc(SARO) | COM | 85423L103 | $2.3M | 80,700 | 0.4% |
| International Flavors&fragra(IFF) | COM | 459506101 | $2.3M | 34,212 | 0.4% |
| Dollar Tree Inc(DLTR) | COM | 256746108 | $2.3M | 18,530 | 0.4% |
| Brookfield Corp(BN) | CL A LTD VT SH | 11271J107 | $2.1M | 46,110 | 0.3% |
| Boyd Group Services Inc(BGSI) | COM | 103310108 | $2.0M | 12,500 | 0.3% |
| Adecoagro S A(AGRO) | COM | L00849106 | $2.0M | 250,000 | 0.3% |
| Addus Homecare Corp(ADUS) | COM | 006739106 | $2.0M | 18,400 | 0.3% |
| Fluor Corp New(FLR) | COM | 343412102 | $1.8M | 45,140 | 0.3% |
| Clarivate PLC(CLVT) | ORD SHS | G21810109 | $1.7M | 521,000 | 0.3% |
| Stoneco LTD(STNE) | COM CL A | G85158106 | $1.5M | 100,000 | 0.2% |
| Markel Group Inc(MKL) | COM | 570535104 | $1.1M | 517 | 0.2% |
| Danaher Corporation(DHR) | COM | 235851102 | $1.1M | 4,700 | 0.2% |
| Evercore Inc(EVR) | CLASS A | 29977A105 | $1.0M | 3,060 | 0.2% |
| Isoenergy LTD(ISOU) | COM NEW | 46500E867 | $1.0M | 111,600 | 0.2% |
| Baidu Inc(BIDUN) | SPON ADR REP A | 056752108 | $993.0K | 7,600 | 0.2% |
| Microchip Technology Inc.(MCHP) | COM | 595017104 | $945.3K | 14,835 | 0.1% |