CIK 1035674
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Metals & Mining | 49.56% | 4 |
| Pharmaceuticals & Biotechnology | 36.13% | 2 |
| Capital Markets | 13.54% | 1 |
| Media & Entertainment | 0.74% | 1 |
| Unclassified | 0.02% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PPTA | PERPETUA RESOURCES CORP. | Materials | 29.23% |
| 2 | MDGL | MADRIGAL PHARMACEUTICALS, INC. | Health Care | 23.42% |
| 3 | AAMI | Acadian Asset Management Inc. | Financials | 13.54% |
| 4 | BHC | Bausch Health Companies Inc. | Health Care | 12.71% |
| 5 | NG | NOVAGOLD RESOURCES INC | Materials | 7.86% |
| 6 | THM | INTERNATIONAL TOWER HILL MINES LTD | Materials | 7.36% |
| 7 | AEM | AGNICO EAGLE MINES LTD | Materials | 5.11% |
| 8 | THRY | Thryv Holdings, Inc. | Communication Services | 0.74% |
| 9 | AMICUS THERAPEUTICS INC | Unclassified | 0.02% |
8/9 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 94.9%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Only 13% of book weight classified — the grid is NOT representative of the whole book.
Classified: 13.5% of book weight (2/9 names) · unclassified 86.5%: PPTA, MDGL, AAMI, NG, THM, AEM, . Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | PPTAPERPETUA RESOURCES CORP | 32,347,299 | $910M | 29.2% | HOLD |
| 2 | MDGLMADRIGAL PHARMACEUTICALS INC | 1,392,188 | $729M | 23.4% | TRIM −18% |
| 3 | AAMIACADIAN ASSET MANAGEMENT INC | 7,743,282 | $421M | 13.5% | HOLD |
| 4 | BHCBAUSCH HEALTH COS INC | 73,255,869 | $396M | 12.7% | HOLD |
| 5 | NGNOVAGOLD RES INC | 27,238,061 | $245M | 7.9% | HOLD |
| 6 | THMINTERNATIONAL TOWER HILL MIN | 99,573,038 | $229M | 7.4% | ADD 42% |
| 7 | AEMAGNICO EAGLE MINES LTD | 783,561 | $159M | 5.1% | HOLD |
| 8 | THRYTHRYV HLDGS INC | 8,443,835 | $23M | 0.7% | ADD 94% |
| 9 | AMICUS THERAPEUTICS INC | 32,400 | $468,504 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PPTAPERPETUA RESOURCES CORP | 24.8M | 24.8M | 32.3M | 32.3M | 32.3M | 32.3M | $910M |
| MDGLMADRIGAL PHARMACEUTICALS INC | 2.0M | 2.1M | 2.1M | 1.9M | 1.7M | 1.4M | $729M |
| AAMIACADIAN ASSET MANAGEMENT INC | 9.0M | 9.0M | 9.0M | 7.7M | 7.7M | 7.7M | $421M |
| BHCBAUSCH HEALTH COS INC | 26.4M | 26.4M | 32.8M | 70.8M | 73.3M | 73.3M | $396M |
| NGNOVAGOLD RES INC | 27.2M | 27.2M | 27.2M | 27.2M | 27.2M | 27.2M | $245M |
| THMINTERNATIONAL TOWER HILL MIN | 64.2M | 70.2M | 70.2M | 70.2M | 70.2M | 99.6M | $229M |
| AEMAGNICO EAGLE MINES LTD | 784K | 784K | 784K | 784K | 784K | 784K | $159M |
| THRYTHRYV HLDGS INC | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 8.4M | $23M |
| AMICUS THERAPEUTICS INC | — | — | — | — | — | 32K | $468,504 |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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