CIK 2000043
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 |
|---|---|---|
| Chemicals | 69.21% | 1 |
| Unclassified | 27.56% | 11 |
| Marine | 2.09% | 2 |
| Oil, Gas & Consumable Fuels | 1.13% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | CROX | Crocs, Inc. | Materials | 69.21% |
| 2 | PHYS | Sprott Physical Gold Trust | Unclassified | 9.75% |
| 3 | PSLV | SPROTT ASSET MANAGEMENT LP | Unclassified | 7.18% |
| 4 | SILJ | AMPLIFY ETF TR | Unclassified | 3.35% |
| 5 | SIL | GLOBAL X FDS | Unclassified | 2.01% |
| 6 | FRO | Frontline, LTD. | Unclassified | 1.52% |
| 7 | DHT | DHT Holdings, Inc. | Industrials | 1.51% |
| 8 | URNM | SPROTT FDS TR | Unclassified | 1.33% |
| 9 | PPLT | ABRDN PLATINUM ETF TRUST | Unclassified | 1.20% |
| 10 | PBR.A | PETROLEO BRASILEIRO SA PETRO | Unclassified | 0.62% |
5/16 names classified · sector 72.4% of weight · industry 72.4% · mkt cap 70.3%; 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: 72.4% of the book is sector-classified (unclassified names shown, never dropped).
Only 1% of book weight classified — the grid is NOT representative of the whole book.
Classified: 0.5% of book weight (1/16 names) · unclassified 99.5%: CROX, PHYS, PSLV, SILJ, SIL, FRO, DHT, URNM, PPLT, PBR.A +5 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 | CROXCROCS INC | 2,852,280 | $237M | 69.2% | HOLD |
| 2 | PHYSSprott Physical Gold Trust | 941,220 | $33M | 9.7% | ADD 340% |
| 3 | PSLVSPROTT ASSET MANAGEMENT LP | 1,007,557 | $25M | 7.2% | ADD 19% |
| 4 | SILJAMPLIFY ETF TR | 385,439 | $11M | 3.3% | ADD 31% |
| 5 | SILGLOBAL X FDS | 76,482 | $7M | 2.0% | ADD 8% |
| 6 | FROFrontline, LTD. | 149,560 | $5M | 1.5% | NEW |
| 7 | DHTDHT HOLDINGS INC | 282,600 | $5M | 1.5% | NEW |
| 8 | URNMSPROTT FDS TR | 71,981 | $5M | 1.3% | ADD 597% |
| 9 | PPLTABRDN PLATINUM ETF TRUST | 22,970 | $4M | 1.2% | ADD 105% |
| 10 | PBR.APETROLEO BRASILEIRO SA PETRO | 112,265 | $2M | 0.6% | ADD 158% |
| 11 | CNQCANADIAN NAT RES LTD | 41,487 | $2M | 0.6% | ADD 332% |
| 12 | GLNGGOLAR LNG LTD BERMUDA | 36,888 | $2M | 0.6% | ADD 605% |
| 13 | XOMEXXON MOBIL CORP | 10,905 | $2M | 0.5% | ADD 534% |
| 14 | URNJSPROTT FDS TR | 40,250 | $1M | 0.3% | ADD 42% |
| 15 | XOPSPDR SERIES TRUST | 2,500 | $454,575 | 0.1% | HOLD |
| 16 | IBITISHARES BITCOIN TRUST ETF | 11,150 | $428,383 | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| CROXCROCS INC | 2.9M | 2.9M | 2.9M | 2.9M | 2.9M | 2.9M | $237M |
| PHYSSprott Physical Gold Trust | — | — | — | 276K | 214K | 941K | $33M |
| PSLVSPROTT ASSET MANAGEMENT LP | — | — | — | 524K | 848K | 1.0M | $25M |
| SILJAMPLIFY ETF TR | — | — | — | 175K | 295K | 385K | $11M |
| SILGLOBAL X FDS | — | — | — | 53K | 71K | 76K | $7M |
| FROFrontline, LTD. | — | — | — | — | — | 150K | $5M |
| DHTDHT HOLDINGS INC | — | — | — | — | — | 283K | $5M |
| URNMSPROTT FDS TR | — | — | — | 8K | 10K | 72K | $5M |
| PPLTABRDN PLATINUM ETF TRUST | — | — | — | 11K | 11K | 23K | $4M |
| PBR/APETROLEO BRASILEIRO SA PETRO | — | — | — | — | 44K | 112K | $2M |
| CNQCANADIAN NAT RES LTD | — | — | — | — | 10K | 41K | $2M |
| GLNGGOLAR LNG LTD BERMUDA | — | — | — | — | 5K | 37K | $2M |
| XOMEXXON MOBIL CORP | — | — | — | — | 2K | 11K | $2M |
| URNJSPROTT FDS TR | — | — | — | 16K | 28K | 40K | $1M |
| XOPSPDR SERIES TRUST | — | — | — | 3K | 3K | 3K | $454,575 |
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.
