Q1 2026 Holdings
Filed 2026-05-15 | 37 holdings | $261.2M | 13F-HR/A | View on SEC ↗ · Holdings Table ↗
Amended (2026-05-19) | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Ramaco RES Inc(METC) | COM CL A | 75134P600 | $47.2M | 3,050,000 | 18.1% |
| Ramaco RES Inc(METC)CallA | COM CL A | 75134P600 | $30.9M | 2,000,000 | 11.8% |
| Sigma Lithium Corporation(SGML) | COM | 826599102 | $18.7M | 1,513,578 | 7.2% |
| Hallador Energy Company(HNRG)CallA | COM | 40609P105 | $16.3M | 1,000,000 | 6.2% |
| Cleveland-Cliffs Inc New(CLF)CallA | COM | 185899101 | $11.0M | 1,300,000 | 4.2% |
| Hallador Energy Company(HNRG) | COM | 40609P105 | $10.6M | 648,300 | 4.0% |
| HUT 8 Corp(HUT) | COM | 44812J104 | $10.2M | 217,920 | 3.9% |
| Fluor Corp(FLR) | COM | 343412102 | $8.4M | 180,215 | 3.2% |
| DOW Hldgs Inc(DOW)CallA | COM | 260557103 | $8.3M | 200,000 | 3.2% |
| Lyondellbasell Industries NV(LYB)CallA | SHS - A - | N53745100 | $8.1M | 100,000 | 3.1% |
| Aptargroup Inc(ATR) | COM | 038336103 | $7.4M | 59,000 | 2.8% |
| Sigma Lithium Corporation(SGML)CallA | COM | 826599102 | $6.8M | 550,000 | 2.6% |
| Ingevity Corp(NGVT) | COM | 45688C107 | $6.1M | 85,795 | 2.3% |
| Ecovyst Inc(ECVT) | COM | 27923Q109 | $6.0M | 470,000 | 2.3% |
| Qnity Electronics Inc(Q) | COMMON STOCK | 74743L100 | $5.8M | 50,425 | 2.2% |
| Chemours Co(CC)CallA | COM | 163851108 | $5.6M | 255,300 | 2.2% |
| Chemours Co(CC) | COM | 163851108 | $5.6M | 253,903 | 2.1% |
| Ashland Inc(ASH) | COM | 044186104 | $5.6M | 100,000 | 2.1% |
| O-I Glass Inc(OI) | COM | 67098H104 | $4.4M | 414,897 | 1.7% |
| Bunge Global SA(BG) | COM SHS | H11356104 | $4.2M | 33,000 | 1.6% |
| Cleveland-Cliffs Inc New(CLF) | COM | 185899101 | $4.1M | 480,000 | 1.6% |
| Darling Ingredients Inc(DAR) | COM | 237266101 | $3.4M | 54,605 | 1.3% |
| Packaging Corp Amer(PKG) | COM | 695156109 | $3.2M | 15,000 | 1.2% |
| Vital Farms Inc(VITL)CallA | COM | 92847W103 | $2.8M | 200,000 | 1.1% |
| Fedex Corp(FDX) | COM | 31428X106 | $2.5M | 7,103 | 1.0% |
| Flowserve Corp(FLS) | COM | 34354P105 | $2.5M | 33,944 | 1.0% |
| Methanex Corp(MEOH) | COM | 59151K108 | $2.4M | 39,934 | 0.9% |
| Nucor Corp(NUE) | COM | 670346105 | $2.0M | 12,000 | 0.8% |
| Steel Dynamics Inc(STLD) | COM | 858119100 | $2.0M | 11,000 | 0.8% |
| Smithfield Foods Inc(SFD) | COM | 832248207 | $2.0M | 70,000 | 0.7% |
| Alliance Resource Partners L(ARLP) | UT LTD PART | 01877R108 | $1.8M | 66,000 | 0.7% |
| Advanced Drain SYS Inc del(WMS) | COM | 00790R104 | $1.8M | 12,801 | 0.7% |
| Dupont de Nemours Inc(DD) | COM | 26614N102 | $1.6M | 35,109 | 0.6% |
| ATI Inc(ATI) | COM | 01741R102 | $1.4M | 9,842 | 0.5% |
| Boise Cascade Co del(BCC) | COM | 09739D100 | $379.3K | 5,000 | 0.1% |
| Atlas Critical Minerals Corp(ATCX) | ORD SHS NEW | G5211G200 | $261.3K | 47,000 | 0.1% |
| Ur-Energy Inc(URG) | COM | 91688R108 | $29.9K | 20,069 | 0.0% |