Q1 2025 Holdings
Filed 2025-05-12 | 22 holdings | $224.0M | 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 | $64.8M | 225,000 | 28.9% |
| Ishares TR(EEM)Put | MSCI EMG MKT ETF | 464287234 | $44.1M | 1,010,000 | 19.7% |
| Compania de Minas Buenaventu(BVN) | SPONSORED ADR | 204448104 | $21.4M | 1,368,854 | 9.5% |
| Petroleo Brasileiro SA Petro(PJX) | SP ADR NON VTG | 71654V101 | $14.7M | 1,127,133 | 6.6% |
| Intercorp Finl Svcs Inc(IFS) | SHS | P5626F128 | $13.4M | 403,327 | 6.0% |
| Banco Bradesco S A(BBD) | SP ADR PFD NEW | 059460303 | $11.9M | 5,323,265 | 5.3% |
| Gerdau SA(GGB) | SPON ADR REP PFD | 373737105 | $11.1M | 3,900,000 | 4.9% |
| Tidewater Inc New(TDW) | COM | 88642R109 | $6.4M | 152,000 | 2.9% |
| Newmont Corp(NEM) | COM | 651639106 | $6.3M | 130,000 | 2.8% |
| Barrick Gold Corp(ABX) | COM | 067901108 | $6.2M | 320,000 | 2.8% |
| Equinox Gold Corp(EQX) | COM | 29446Y502 | $4.8M | 1,010,600 | 2.2% |
| Vale S A(VALE) | SPONSORED ADS | 91912E105 | $4.2M | 420,000 | 1.9% |
| Credicorp LTD(BAP) | COM | G2519Y108 | $4.0M | 21,256 | 1.8% |
| Hafnia LTD(HAFN) | SHS | Y2990R101 | $3.9M | 931,100 | 1.7% |
| Scorpio Tankers Inc(STNG) | SHS | Y7542C130 | $3.8M | 100,000 | 1.7% |
| Inter & Co Inc(INTR) | CLASS A COM | G4R20B107 | $1.9M | 350,000 | 0.9% |
| Cementos Pacasmayo S A A(CPAC) | SPONSORED ADR | 15126Q208 | $1.2M | 209,734 | 0.5% |