CIK 1317097
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2014-Q2. 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 |
|---|---|---|
| Unclassified | 68.21% | 10 |
| Metals & Mining | 28.72% | 10 |
| Construction Materials | 3.08% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | RIO ALTO MNG LTD NEW | Unclassified | 31.51% | |
| 2 | POINTS INTL LTD | Unclassified | 10.65% | |
| 3 | MAG SILVER CORP | Unclassified | 7.53% | |
| 4 | BTG | B2GOLD CORP | Materials | 6.64% |
| 5 | DNN | DENISON MINES CORP. | Materials | 5.31% |
| 6 | STONE ENERGY CORP | Unclassified | 5.18% | |
| 7 | PAAS | PAN AMERICAN SILVER CORP | Materials | 4.90% |
| 8 | YAMANA GOLD INC | Unclassified | 4.41% | |
| 9 | NEW GOLD INC CDA | Unclassified | 3.69% | |
| 10 | CCJ | CAMECO CORP | Materials | 3.32% |
12/22 names classified · sector 31.8% of weight · industry 31.8% · mkt cap 19.4%; 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: 31.8% of the book is sector-classified (unclassified names shown, never dropped).
Only 3% of book weight classified — the grid is NOT representative of the whole book.
Classified: 3.0% of book weight (1/12 names) · unclassified 97.0%: , BTG, DNN, PAAS, CCJ, FNV, VGZ, AEM, PLG, URG +1 more. 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 | RIO ALTO MNG LTD NEW | 3,265,454 | $8M | 31.5% | NEW |
| 2 | POINTS INTL LTD | 150,728 | $3M | 10.7% | ADD 7% |
| 3 | MAG SILVER CORP | 250,482 | $2M | 7.5% | HOLD |
| 4 | BTGB2GOLD CORP | 807,061 | $2M | 6.6% | TRIM −6% |
| 5 | DNNDENISON MINES CORP | 1,148,700 | $1M | 5.3% | TRIM −6% |
| 6 | STONE ENERGY CORP | 40,771 | $1M | 5.2% | HOLD |
| 7 | PAASPAN AMERN SILVER CORP | 110,411 | $1M | 4.9% | HOLD |
| 8 | YAMANA GOLD INC | 181,342 | $1M | 4.4% | ADD 3% |
| 9 | NEW GOLD INC CDA | 180,000 | $910,000 | 3.7% | HOLD |
| 10 | CCJCAMECO CORP | 46,534 | $820,000 | 3.3% | HOLD |
| 11 | FNVFRANCO NEV CORP | 15,370 | $750,000 | 3.0% | HOLD |
| 12 | HLHECLA MNG CO | 300,000 | $740,000 | 3.0% | TRIM −33% |
| 13 | AURICO GOLD INC | 204,695 | $710,000 | 2.9% | TRIM −44% |
| 14 | URANIUM RES INC COM PAR$0.001NEW | 148,913 | $380,000 | 1.5% | HOLD |
| 15 | VGZVISTA GOLD CORP | 703,765 | $290,000 | 1.2% | HOLD |
| 16 | AEMAGNICO EAGLE MINES LTD | 9,665 | $280,000 | 1.1% | HOLD |
| 17 | PLGPLATINUM GROUP METALS LTD | 300,000 | $270,000 | 1.1% | HOLD |
| 18 | URGUR-ENERGY INC | 263,756 | $270,000 | 1.1% | HOLD |
| 19 | DNNDENISON MINES CORP | 225,519 | $250,000 | 1.0% | HOLD |
| 20 | ALLIED NEVADA GOLD UTIL | 57,300 | $190,000 | 0.8% | HOLD |
| 21 | UUUUENERGY FUELS INC | 2,754 | $20,000 | 0.1% | HOLD |
| 22 | NEW GOLD INC CDA | 1,000 | $10,000 | 0.0% | HOLD |
| 23 | KINROSS GOLD CORP | 5,000 | $0 | 0.0% | HOLD |
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