Q1 2026 Holdings
Filed 2026-05-15 | 19 holdings | $1.0B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Coeur MNG Inc(CDE) | COM NEW | 192108504 | $186.6M | 9,942,304 | 18.0% |
| I-80 Gold Corp(IAUX) | COM | 44955L106 | $124.8M | 82,103,559 | 12.1% |
| Valaris LTD(VAL) | CL A | G9460G101 | $113.6M | 1,158,651 | 11.0% |
| Osisko Development Corp(ODV) | COM NEW | 68828E809 | $81.4M | 25,050,980 | 7.9% |
| Chord Energy Corporation(CHRD) | COM NEW | 674215207 | $79.1M | 556,536 | 7.6% |
| Rayonier Advanced Matls Inc(RYAM) | COM | 75508B104 | $70.4M | 6,358,877 | 6.8% |
| Sibanye Stillwater LTD(SBSW) | SPONSORED ADR | 82575P107 | $64.6M | 5,244,469 | 6.2% |
| Seadrill LTD(SDRL) | COM | G7997W102 | $58.2M | 1,279,968 | 5.6% |
| B2gold Corp(BTG) | COM | 11777Q209 | $52.4M | 11,571,607 | 5.1% |
| Endeavour Silver Corp(EXK) | COM | 29258Y103 | $41.9M | 4,503,543 | 4.1% |
| I-80 Gold Corp(IAU-WU) | *W EXP 11/16/202 | 44955L155 | $41.5M | 41,541,599 | 4.0% |
| Cenovus Energy Inc(CVE) | COM | 15135U109 | $29.2M | 1,100,000 | 2.8% |
| Tidewater Inc New(TDW) | COM | 88642R109 | $23.9M | 285,900 | 2.3% |
| Core Natural Resources Inc(CNR) | COM SHS | 218937100 | $21.1M | 201,663 | 2.0% |
| Cadeler A S(CDLR) | SPON ADR | 12738K109 | $14.7M | 624,400 | 1.4% |
| Elemental RTY Corp(ELE) | COM NEW | 28620K106 | $12.7M | 674,415 | 1.2% |
| Nexmetals Mining Corp.(NEXM) | COM NEW | 65346E204 | $8.6M | 3,513,500 | 0.8% |
| Tsakos Energy Navigation LTD(TEN) | SHS | G9108L173 | $7.5M | 190,977 | 0.7% |
| Mcewen Inc.(MUX) | COM NEW | 58039P305 | $2.3M | 113,000 | 0.2% |