CIK 1325083
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 |
|---|---|---|
| Unclassified | 31.72% | 9 |
| Metals & Mining | 29.45% | 13 |
| Pharmaceuticals & Biotechnology | 22.87% | 9 |
| Capital Markets | 13.66% | 3 |
| Tobacco | 0.92% | 1 |
| Aerospace & Defense | 0.82% | 1 |
| Professional Services | 0.56% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | BIOHAVEN PHARMACTL HLDG CO L | Unclassified | 10.93% | |
| 2 | PHYS | Sprott Physical Gold Trust | Unclassified | 7.61% |
| 3 | RGLD | ROYAL GOLD INC | Financials | 7.45% |
| 4 | MGTX | MeiraGTx Holdings plc | Health Care | 6.01% |
| 5 | AEM | AGNICO EAGLE MINES LTD | Materials | 5.94% |
| 6 | KGC | KINROSS GOLD CORP | Materials | 5.42% |
| 7 | ALDX | Aldeyra Therapeutics, Inc. | Health Care | 5.14% |
| 8 | SA | SEABRIDGE GOLD INC | Unclassified | 4.99% |
| 9 | FNV | FRANCO NEVADA CORP | Materials | 4.39% |
| 10 | SSRM | SSR MINING INC. | Financials | 4.00% |
28/37 names classified · sector 68.3% of weight · industry 68.3% · mkt cap 45.3%; 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: 68.3% of the book is sector-classified (unclassified names shown, never dropped).
Only 16% of book weight classified — the grid is NOT representative of the whole book.
Classified: 16.0% of book weight (7/36 names) · unclassified 84.0%: , PHYS, MGTX, AEM, KGC, ALDX, SA, FNV, ELTX, ENTX +19 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 | BIOHAVEN PHARMACTL HLDG CO L | 2,328,602 | $20M | 10.9% | HOLD |
| 2 | PHYSSprott Physical Gold Trust | 387,055 | $14M | 7.6% | NEW |
| 3 | RGLDROYAL GOLD INC | 52,750 | $13M | 7.5% | HOLD |
| 4 | MGTXMEIRAGTX HLDGS PLC | 1,250,000 | $11M | 6.0% | HOLD |
| 5 | AEMAGNICO EAGLE MINES LTD | 52,750 | $11M | 5.9% | HOLD |
| 6 | KGCKINROSS GOLD CORP | 320,000 | $10M | 5.4% | TRIM −22% |
| 7 | ALDXALDEYRA THERAPEUTICS INC | 5,475,516 | $9M | 5.1% | HOLD |
| 8 | SASEABRIDGE GOLD INC | 317,003 | $9M | 5.0% | HOLD |
| 9 | FNVFRANCO NEV CORP | 32,000 | $8M | 4.4% | ADD 28% |
| 10 | SSRMSSR MINING IN | 245,000 | $7M | 4.0% | HOLD |
| 11 | ELTXELICIO THERAPEUTICS INC | 630,915 | $7M | 3.7% | HOLD |
| 12 | ENTXENTERA BIO LTD | 5,881,879 | $6M | 3.6% | HOLD |
| 13 | NUVBNUVATION BIO INC | 1,498,591 | $6M | 3.6% | HOLD |
| 14 | CGAUCENTERRA GOLD INC | 359,000 | $6M | 3.5% | TRIM −28% |
| 15 | PAASPAN AMERN SILVER CORP | 100,035 | $5M | 3.0% | HOLD |
| 16 | PSLVSPROTT ASSET MANAGEMENT LP | 222,160 | $5M | 3.0% | NEW |
| 17 | OCULOCULAR THERAPEUTIX INC | 600,400 | $5M | 2.8% | HOLD |
| 18 | TFPMTRIPLE FLAG PRECIOUS METAL | 115,000 | $4M | 2.2% | ADD 96% |
| 19 | GROYGOLD ROYALTY CORP | 1,000,000 | $4M | 2.0% | NEW |
| 20 | AGIALAMOS GOLD INC NEW | 50,000 | $2M | 1.2% | HOLD |
| 21 | ABEOABEONA THERAPEUTICS INC | 485,515 | $2M | 1.2% | ADD 106% |
| 22 | NEWPNEW PAC METALS CORP | 485,000 | $2M | 1.1% | HOLD |
| 23 | CDECOEUR MNG INC | 96,132 | $2M | 1.0% | HOLD |
| 24 | ITAIShares U.S. Aerospace & Defense ETF | 7,650 | $2M | 0.9% | HOLD |
| 25 | PMPHILIP MORRIS INTL INC | 10,000 | $2M | 0.9% | HOLD |
| 26 | WPMWHEATON PRECIOUS METALS CORP | 12,500 | $2M | 0.9% | HOLD |
| 27 | NOCNORTHROP GRUMMAN CORP | 2,165 | $1M | 0.8% | HOLD |
| 28 | BAHBOOZ ALLEN HAMILTON HLDG COR | 13,000 | $1M | 0.6% | HOLD |
| 29 | ELEELEMENTAL RTY CORP | 50,000 | $943,000 | 0.5% | NEW |
| 30 | VMETVersamet Royalties Corp | 66,621 | $633,565 | 0.4% | NEW |
| 31 | DCDAKOTA GOLD CORP | 122,921 | $620,751 | 0.3% | HOLD |
| 32 | AMRZAMRIZE LTD | 9,175 | $513,983 | 0.3% | NEW |
| 33 | ALTALTIMMUNE INC | 160,000 | $492,800 | 0.3% | TRIM −86% |
| 34 | CRDLCARDIOL THERAPEUTICS INC | 100,000 | $135,000 | 0.1% | HOLD |
| 35 | PHARPHARMING GROUP NV | 4,057 | $67,508 | 0.0% | NEW |
| 36 | Orgenesis, Inc. | 50,623 | $30,373 | 0.0% | HOLD |
| 37 | OROR ROYALTIES INC. | 225,000 | $8,555 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| BIOHAVEN PHARMACTL HLDG CO L | 760K | 831K | 895K | 895K | 2.3M | 2.3M | $20M |
| PHYSSprott Physical Gold Trust | — | — | — | — | — | 387K | $14M |
| RGLDROYAL GOLD INC | 8K | 8K | 9K | 9K | 53K | 53K | $13M |
| MGTXMEIRAGTX HLDGS PLC | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | $11M |
| AEMAGNICO EAGLE MINES LTD | 56K | 56K | 56K | 53K | 53K | 53K | $11M |
| KGCKINROSS GOLD CORP | 440K | 440K | 440K | 410K | 410K | 320K | $10M |
| ALDXALDEYRA THERAPEUTICS INC | 5.5M | 5.5M | 5.5M | 5.5M | 5.5M | 5.5M | $9M |
| SASEABRIDGE GOLD INC | 317K | 317K | 317K | 317K | 317K | 317K | $9M |
| FNVFRANCO NEV CORP | 25K | 25K | 25K | 25K | 25K | 32K | $8M |
| SSRMSSR MINING IN | — | — | — | — | 245K | 245K | $7M |
| ELTXELICIO THERAPEUTICS INC | — | 631K | 631K | 631K | 631K | 631K | $7M |
| ENTXENTERA BIO LTD | 5.9M | 5.9M | 5.9M | 5.9M | 5.9M | 5.9M | $6M |
| NUVBNUVATION BIO INC | — | 1.0M | 1.0M | 1.0M | 1.5M | 1.5M | $6M |
| CGAUCENTERRA GOLD INC | — | — | 1.2M | 497K | 497K | 359K | $6M |
| PAASPAN AMERN SILVER CORP | — | — | — | 100K | 100K | 100K | $5M |
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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