CIK 2123857
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 | 31.99% | 15 |
| Oil, Gas & Consumable Fuels | 27.12% | 13 |
| Unclassified | 25.29% | 9 |
| Capital Markets | 11.28% | 2 |
| Chemicals | 2.26% | 1 |
| Utilities | 2.06% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | GLDM | WORLD GOLD TR | Unclassified | 9.57% |
| 2 | RGLD | ROYAL GOLD INC | Financials | 7.98% |
| 3 | SLV | ISHARES SILVER TR | Unclassified | 6.46% |
| 4 | COP | CONOCOPHILLIPS | Energy | 4.30% |
| 5 | RRC | RANGE RESOURCES CORP | Energy | 4.29% |
| 6 | AEM | AGNICO EAGLE MINES LTD | Materials | 4.21% |
| 7 | FNV | FRANCO NEVADA CORP | Materials | 3.73% |
| 8 | GLD | SPDR GOLD TR | Unclassified | 3.40% |
| 9 | TFPM | Triple Flag Precious Metals Corp. | Financials | 3.30% |
| 10 | AGI | ALAMOS GOLD INC CLASS A | Materials | 2.99% |
32/41 names classified · sector 74.7% of weight · industry 74.7% · mkt cap 49.3%; 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: 74.7% of the book is sector-classified (unclassified names shown, never dropped).
Only 32% of book weight classified — the grid is NOT representative of the whole book.
Classified: 31.5% of book weight (11/41 names) · unclassified 68.5%: GLDM, SLV, AEM, FNV, GLD, TFPM, AGI, WPM, B, SILJ +20 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 | GLDMWORLD GOLD TR | 159,084 | $14M | 9.6% | HOLD |
| 2 | RGLDROYAL GOLD INC | 49,626 | $12M | 8.0% | ADD 9% |
| 3 | SLVISHARES SILVER TR | 150,926 | $10M | 6.5% | TRIM −58% |
| 4 | COPCONOCOPHILLIPS | 48,071 | $6M | 4.3% | ADD 61% |
| 5 | RRCRANGE RES CORP | 137,812 | $6M | 4.3% | ADD 65% |
| 6 | AEMAGNICO EAGLE MINES LTD | 32,547 | $6M | 4.2% | TRIM −12% |
| 7 | FNVFRANCO NEV CORP | 23,690 | $6M | 3.7% | ADD 6% |
| 8 | GLDSPDR GOLD TR | 12,187 | $5M | 3.4% | TRIM −9% |
| 9 | TFPMTRIPLE FLAG PRECIOUS METAL | 148,877 | $5M | 3.3% | TRIM −19% |
| 10 | AGIALAMOS GOLD INC NEW | 106,493 | $4M | 3.0% | ADD 18% |
| 11 | WPMWHEATON PRECIOUS METALS CORP | 31,707 | $4M | 2.6% | TRIM −10% |
| 12 | BBARRICK MNG CORP | 87,360 | $4M | 2.6% | HOLD |
| 13 | CVXCHEVRON CORP NEW | 17,990 | $4M | 2.6% | ADD 59% |
| 14 | EQTEQT CORP | 56,887 | $4M | 2.5% | ADD 90% |
| 15 | SILJAMPLIFY ETF TR | 133,290 | $4M | 2.5% | NEW |
| 16 | IAUXI-80 GOLD CORP | 2,507,979 | $4M | 2.4% | NEW |
| 17 | VOXRVOX ROYALTY CORP | 733,415 | $4M | 2.4% | ADD 33% |
| 18 | BTGB2GOLD CORP | 801,208 | $3M | 2.3% | TRIM −15% |
| 19 | NTRNUTRIEN LTD | 43,900 | $3M | 2.3% | ADD 7% |
| 20 | XOMEXXON MOBIL CORP | 19,424 | $3M | 2.2% | ADD 108% |
| 21 | CRGYCRESCENT ENERGY COMPANY | 231,105 | $3M | 2.1% | ADD 72% |
| 22 | REPXRILEY EXPLORATION PERMIAN IN | 84,393 | $3M | 2.1% | ADD 136% |
| 23 | EPDENTERPRISE PRODS PARTNERS L | 78,356 | $3M | 2.1% | ADD 11% |
| 24 | PAASPAN AMERN SILVER CORP | 59,497 | $3M | 2.1% | TRIM −5% |
| 25 | OROR ROYALTIES INC. | 79,264 | $3M | 1.9% | ADD 2% |
| 26 | NEMNEWMONT CORP | 25,372 | $3M | 1.8% | TRIM −7% |
| 27 | WDSWOODSIDE ENERGY GROUP LTD | 107,005 | $3M | 1.7% | ADD 13% |
| 28 | SCCOSOUTHERN COPPER CORP | 13,537 | $2M | 1.5% | ADD 7% |
| 29 | PPLTABRDN PLATINUM ETF TRUST | 12,292 | $2M | 1.4% | ADD 3% |
| 30 | EXEEXPAND ENERGY CORPORATION | 16,745 | $2M | 1.3% | ADD 8% |
| 31 | NENOBLE CORP PLC | 33,845 | $2M | 1.1% | ADD 5% |
| 32 | ENBENBRIDGE INC | 29,622 | $2M | 1.1% | ADD 5% |
| 33 | CNQCANADIAN NAT RES LTD | 30,419 | $2M | 1.0% | NEW |
| 34 | VNOMVIPER ENERGY INC | 27,064 | $1M | 0.9% | NEW |
| 35 | CLIPGLOBAL X FDS | 9,508 | $954,128 | 0.6% | TRIM −27% |
| 36 | CCJCAMECO CORP | 9,082 | $933,993 | 0.6% | ADD 2% |
| 37 | MTAMETALLA RTY & STREAMING LTD | 135,073 | $818,542 | 0.6% | HOLD |
| 38 | GDXWROUNDHILL ETF TRUST | 9,403 | $806,667 | 0.5% | TRIM −6% |
| 39 | RIORIO TINTO PLC | 8,558 | $760,104 | 0.5% | ADD 5% |
| 40 | IAUISHARES GOLD TR | 8,087 | $686,829 | 0.5% | HOLD |
| 41 | GNRSPDR INDEX SHS FDS | 6,739 | $492,428 | 0.3% | ADD 52% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| GLDMWORLD GOLD TR | — | — | — | — | 162K | 159K | $14M |
| RGLDROYAL GOLD INC | — | — | — | — | 45K | 50K | $12M |
| SLVISHARES SILVER TR | — | — | — | — | 356K | 151K | $10M |
| COPCONOCOPHILLIPS | — | — | — | — | 30K | 48K | $6M |
| RRCRANGE RES CORP | — | — | — | — | 83K | 138K | $6M |
| AEMAGNICO EAGLE MINES LTD | — | — | — | — | 37K | 33K | $6M |
| FNVFRANCO NEV CORP | — | — | — | — | 22K | 24K | $6M |
| GLDSPDR GOLD TR | — | — | — | — | 13K | 12K | $5M |
| TFPMTRIPLE FLAG PRECIOUS METAL | — | — | — | — | 185K | 149K | $5M |
| AGIALAMOS GOLD INC NEW | — | — | — | — | 90K | 106K | $4M |
| WPMWHEATON PRECIOUS METALS CORP | — | — | — | — | 35K | 32K | $4M |
| BBARRICK MNG CORP | — | — | — | — | 87K | 87K | $4M |
| CVXCHEVRON CORP NEW | — | — | — | — | 11K | 18K | $4M |
| EQTEQT CORP | — | — | — | — | 30K | 57K | $4M |
| SILJAMPLIFY ETF TR | — | — | — | — | — | 133K | $4M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
