Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (25 quarters reported)
$293M in Q2 2020 → $2.97B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| EG Eldorado Gold Corp New | 15.1% | Added 38% | 14,417,557 | $448M |
| Nexgen Energy Ltd | 11.0% | Trimmed 0.6% | 34,992,263 | $329M |
| Amcor PLC | 9.8% | Added 53% | 6,710,648 | $291M |
| Equinox Gold Corp | 8.8% | Added 11% | 27,055,865 | $263M |
| Centerra Gold Inc | 8.7% | Added 132% | 16,337,154 | $259M |
| Trekor Metals Ltd | 8.0% | New | 34,687,011 | $239M |
| Hudbay Minerals Inc | 7.9% | New | 9,977,133 | $236M |
| B2gold Corp | 6.1% | New | 48,837,914 | $183M |
| CP Crh PLC | 4.5% | Trimmed 32% | 1,264,527 | $135M |
| Oceanagold Corp | 2.7% | New | 3,157,907 | $79.1M |
| Anteris Technologies Global | 2.6% | Unchanged | 7,789,000 | $76.7M |
| Alcoa Corp | 2.5% | New | 1,435,645 | $74.9M |
| Hdfc Bank Ltd | 1.9% | Added 73% | 2,194,495 | $56.7M |
| NN News Corp New | 1.9% | Trimmed 53% | 1,995,900 | $56M |
| Builders Firstsource Inc | 1.8% | Added 105% | 600,269 | $53.7M |
| Aya Gold & Silver Inc | 1.3% | New | 2,074,017 | $39.3M |
| NH Nu Hldgs Ltd | 1.2% | Added 24% | 2,634,319 | $35.2M |
| Isoenergy Ltd | 0.9% | Added 12% | 2,778,857 | $27.7M |
| Iamgold Corp | 0.8% | Added 0.2% | 1,512,374 | $24M |
| FE Ferguson Enterprises Inc | 0.7% | New | 84,104 | $20M |
| Zillow Group Inc | 0.5% | Trimmed 61% | 499,342 | $15.7M |
| Intuit | 0.4% | New | 49,972 | $13M |
| Lithium Argentina Ag | 0.4% | New | 1,369,956 | $11.3M |
| Sigma Lithium Corporation | 0.3% | New | 767,428 | $9.71M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Trekor Metals Ltd | New | +34,687,011 | +$239M | 8.0% |
| Hudbay Minerals Inc | New | +9,977,133 | +$236M | 7.9% |
| TM Taseko Mines Ltd | Exited | −35,110,589 | −$227M | — |
| B2gold Corp | New | +48,837,914 | +$183M | 6.1% |
| FE Flutter Entmt PLC | Exited | −1,769,255 | −$180M | — |
| Centerra Gold Inc | Added | +9,285,471 | +$147M | 8.7% |
| EG Eldorado Gold Corp New | Added | +3,977,224 | +$124M | 15.1% |
| Amcor PLC | Added | +2,310,434 | +$100M | 9.8% |
| Oceanagold Corp | New | +3,157,907 | +$79.1M | 2.7% |
| Alcoa Corp | New | +1,435,645 | +$74.9M | 2.5% |
Showing the 10 largest of 31 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CP Crh PLC | New | +1,850,331 | +$195M | 7.6% |
| Amcor PLC | New | +4,400,214 | +$175M | 6.9% |
| FE Flutter Entmt PLC | Added | +1,630,404 | +$166M | 7.1% |
| Centerra Gold Inc | New | +7,051,683 | +$125M | 4.9% |
| IE Intercontinental Exchange In | Exited | −679,203 | −$110M | — |
| CE Cenovus Energy Inc | Exited | −5,655,769 | −$95.7M | — |
| Alcoa Corp | Exited | −1,545,476 | −$82.1M | — |
| Equinox Gold Corp | Added | +4,166,609 | +$60.2M | 13.8% |
| PT Proshares Tr Ii | New | +5,187,995 | +$43.2M | 1.7% |
| Allied Gold Corp | Exited | −1,476,184 | −$33.8M | — |
Showing the 10 largest of 29 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alcoa Corp | Trimmed | −4,342,223 | −$231M | 4.3% |
| Hudbay Minerals Inc | Exited | −8,379,964 | −$134M | — |
| Zillow Group Inc | Added | +1,722,369 | +$118M | 6.2% |
| IE Intercontinental Exchange In | New | +679,203 | +$110M | 5.7% |
| EG Eldorado Gold Corp New | Added | +2,512,168 | +$90.2M | 18.1% |
| CC Charter Communications Inc N | Exited | −289,544 | −$63.7M | — |
| TM Taseko Mines Ltd | Added | +11,066,233 | +$62.6M | 10.5% |
| Denison Mines Corp | Exited | −14,007,218 | −$44.4M | — |
| CP Crh PLC | Exited | −356,888 | −$40.3M | — |
| Equinox Gold Corp | Added | +2,768,141 | +$38.9M | 14.8% |
Showing the 10 largest of 27 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FE Flutter Entmt PLC | Exited | −481,009 | −$136M | — |
| Lloyds Banking Group PLC | Exited | −129,076,191 | −$136M | — |
| Warrior Met Coal Inc | Trimmed | −1,522,130 | −$124M | 2.4% |
| Hudbay Minerals Inc | Trimmed | −6,674,123 | −$107M | 8.5% |
| CP Crh PLC | Trimmed | −938,672 | −$106M | 2.5% |
| NN News Corp New | New | +3,387,548 | +$103M | 6.5% |
| Equinox Gold Corp | Trimmed | −6,512,450 | −$76.3M | 12.9% |
| Natwest Group PLC | Exited | −10,382,579 | −$72.9M | — |
| CC Charter Communications Inc N | New | +289,544 | +$63.7M | 4.0% |
| Denison Mines Corp | Added | +13,705,598 | +$43.4M | 2.8% |
Showing the 10 largest of 33 changes.
quarter ended June 30, 2025 · filed September 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lloyds Banking Group PLC | New | +129,076,191 | +$136M | 8.2% |
| Ryanair Holdings PLC | Trimmed | −1,673,150 | −$96.5M | 2.1% |
| Alcoa Corp | Added | +3,087,298 | +$91.1M | 8.6% |
| Equinox Gold Corp | Added | +13,060,846 | +$75.1M | 8.3% |
| Natwest Group PLC | New | +10,382,579 | +$72.9M | 4.4% |
| Warrior Met Coal Inc | Added | +1,262,736 | +$57.9M | 5.5% |
| Anteris Technologies Global | Trimmed | −4,074,480 | −$37.8M | 1.6% |
| GP Graphic Packaging Hldg Co | Exited | −1,060,541 | −$27.5M | — |
| Zillow Group Inc | New | +380,462 | +$26.7M | 1.6% |
| EG Eldorado Gold Corp New | Trimmed | −1,280,501 | −$26M | 9.2% |
Showing the 10 largest of 30 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Natwest Group PLC | Exited | −22,133,598 | −$89M | — |
| Barclays PLC | Exited | −22,621,299 | −$60.7M | — |
| Alcoa Corp | New | +1,727,044 | +$52.7M | 4.9% |
| Lloyds Banking Group PLC | Exited | −93,653,671 | −$51.3M | — |
| GP Graphic Packaging Hldg Co | Trimmed | −1,635,484 | −$42.5M | 2.6% |
| FE Flutter Entmt PLC | Added | +187,471 | +$41.5M | 10.2% |
| Equinox Gold Corp | Added | +5,710,310 | +$39.3M | 7.0% |
| Warrior Met Coal Inc | New | +718,309 | +$34.3M | 3.2% |
| Hudbay Minerals Inc | Added | +4,410,778 | +$33.4M | 10.2% |
| TM Taseko Mines Ltd | New | +12,608,621 | +$28.2M | 2.6% |
Showing the 10 largest of 17 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| GP Graphic Packaging Hldg Co | New | +2,696,025 | +$73.2M | 6.3% |
| Barclays PLC | New | +22,621,299 | +$60.7M | 5.2% |
| Lloyds Banking Group PLC | New | +93,653,671 | +$51.3M | 4.4% |
| CP Crh PLC | Trimmed | −519,689 | −$48.1M | 6.9% |
| FE Flutter Entmt PLC | Trimmed | −224,616 | −$46.5M | 5.4% |
| Hudbay Minerals Inc | Trimmed | −3,625,056 | −$42.3M | 10.0% |
| Nexgen Energy Ltd | Trimmed | −3,308,831 | −$31.4M | 22.2% |
| Veren Inc | Exited | −3,325,690 | −$27.7M | — |
| Equinox Gold Corp | New | +5,137,709 | +$25.8M | 2.2% |
| Natwest Group PLC | Trimmed | −5,137,176 | −$20.7M | 7.6% |
Showing the 10 largest of 16 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ryanair Holdings PLC | New | +2,532,827 | +$114M | 9.8% |
| EG Eldorado Gold Corp New | New | +6,002,312 | +$104M | 9.0% |
| EG Eldorado Gold Corp New | Exited | −4,042,196 | −$59.8M | — |
| Dell Technologies Inc | Exited | −423,096 | −$58.3M | — |
| CE Cenovus Energy Inc | Trimmed | −2,183,077 | −$36.5M | 10.7% |
| Hudbay Minerals Inc | Added | +2,878,134 | +$35.8M | 14.6% |
| CP Crh PLC | Trimmed | −378,562 | −$35.1M | 11.1% |
| Veren Inc | Trimmed | −2,917,186 | −$24.3M | 2.4% |
| FE Flutter Entmt PLC | Trimmed | −120,679 | −$21.2M | 8.0% |
| AS Arcelormittal Sa Luxembourg | New | +777,421 | +$18.3M | 1.6% |
Showing the 10 largest of 13 changes.
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