Q1 2026 Holdings
Filed 2026-05-05 | 43 holdings | $1.9B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Canadian NAT RES LTD MED TER(CNQ) | COM | 136385101 | $137.9M | 2,827,853 | 7.4% |
| Valaris LTD(VAL) | CL A | G9460G101 | $129.3M | 1,319,351 | 7.0% |
| Range RES Corp(RRC) | COM | 75281A109 | $123.0M | 2,721,749 | 6.6% |
| Suncor Energy Inc New(SU) | COM | 867224107 | $121.7M | 1,840,155 | 6.5% |
| SLB Limited(SLB) | COM STK | 806857108 | $118.1M | 2,298,550 | 6.3% |
| Seadrill LTD(SDRL) | COM | G7997W102 | $111.5M | 2,449,565 | 6.0% |
| Cameco Corp(CCJ) | COM | 13321L108 | $90.8M | 836,431 | 4.9% |
| Noble Corp PLC(NE) | ORD SHS A | G65431127 | $90.3M | 1,841,206 | 4.9% |
| Core Natural Resources Inc(CNR) | COM SHS | 218937100 | $74.2M | 708,225 | 4.0% |
| EQT Corp(EQT) | COM | 26884L109 | $73.8M | 1,159,203 | 4.0% |
| Antero Resources Corp(AR) | COM | 03674X106 | $68.6M | 1,617,138 | 3.7% |
| Nutrien LTD(NTR) | COM | 67077M108 | $62.1M | 822,291 | 3.3% |
| Warrior MET Coal Inc(HCC) | COM | 93627C101 | $55.7M | 598,113 | 3.0% |
| Sibanye Stillwater LTD(SBSW) | SPONSORED ADR | 82575P107 | $52.6M | 4,270,069 | 2.8% |
| Alpha Metallurgical Resour I(AMR) | COM | 020764106 | $49.7M | 242,039 | 2.7% |
| Chord Energy Corporation(CHRD) | COM NEW | 674215207 | $40.3M | 283,461 | 2.2% |
| Permian Resources Corp(PR) | CLASS A COM | 71424F105 | $38.7M | 1,814,700 | 2.1% |
| Centrus Energy Corp(LEU) | CL A | 15643U104 | $35.1M | 202,058 | 1.9% |
| Alamos Gold Inc(AGI) | COM CL A | 011532108 | $30.5M | 686,587 | 1.6% |
| Uranium Energy Corp(UEC) | COM | 916896103 | $29.7M | 2,201,921 | 1.6% |
| Matador RES Co(MTDR) | COM | 576485205 | $28.9M | 457,894 | 1.6% |
| Energy Fuels Inc(UUUU) | COM NEW | 292671708 | $27.1M | 1,484,902 | 1.5% |
| Oceaneering Intl Inc(OII) | COM | 675232102 | $25.3M | 713,586 | 1.4% |
| Ivanhoe Electric Inc(IE) | COM | 46578C108 | $25.0M | 2,115,009 | 1.3% |
| Expand Energy Corporation(EXE) | COM | 165167735 | $24.8M | 225,860 | 1.3% |
| Mosaic Co(MOS) | COM | 61945C103 | $23.5M | 922,305 | 1.3% |
| Diamondback Energy Inc(FANG) | COM | 25278X109 | $22.4M | 113,489 | 1.2% |
| Nexgen Energy LTD(NXE) | COM | 65340P106 | $21.0M | 1,810,943 | 1.1% |
| Equinox Gold Corp(EQX) | COM | 29446Y502 | $18.5M | 1,283,253 | 1.0% |
| Comstock RES Inc(CRK) | COM | 205768302 | $18.2M | 861,858 | 1.0% |
| Denison Mines Corp(DNN) | COM | 248356107 | $16.7M | 4,720,615 | 0.9% |
| SM Energy Company(SM) | COM | 78454L100 | $15.2M | 487,730 | 0.8% |
| Borr Drilling LTD(BORR) | SHS | G1466R173 | $12.2M | 2,119,465 | 0.7% |
| Intrepid Potash Inc(IPI) | COM | 46121Y201 | $11.4M | 267,097 | 0.6% |
| Freeport Mcmoran Inc(FCX) | CL B | 35671D857 | $7.2M | 123,252 | 0.4% |
| Ur-Energy Inc(URG) | COM | 91688R108 | $6.3M | 4,253,094 | 0.3% |
| Trilogy Metals Inc New(TMQ) | COM | 89621C105 | $6.2M | 1,728,153 | 0.3% |
| Novagold Resources Inc(NG) | COM NEW | 66987E206 | $6.2M | 692,741 | 0.3% |
| Caledonia MNG Corp(CMCL) | SHS NEW | G1757E113 | $3.5M | 153,264 | 0.2% |
| Encore Energy Corp(EU) | COM NEW | 29259W700 | $2.6M | 1,464,724 | 0.1% |
| Orla MNG LTD New(ORLA) | COM | 68634K106 | $2.6M | 161,584 | 0.1% |
| Triple Flag Precious Metal(TFPM) | COM | 89679M104 | $2.1M | 60,271 | 0.1% |
| Tidewater Inc New(TDW) | COM | 88642R109 | $327.0K | 3,914 | 0.0% |