Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (14 quarters reported)
$142M in Q1 2023 → $97.2M 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 |
|---|---|---|---|---|
| SF Sprott Fds Tr | 11.9% | Added 216% | 219,471 | $11.5M |
| GX Global X Fds | 11.7% | New | 260,000 | $11.4M |
| Exxon Mobil Corp | 8.7% | Trimmed 71% | 62,000 | $8.48M |
| Mosaic Co Call | 8.2% | New | 375,000 | $7.95M |
| Weyerhaeuser Co | 7.1% | Trimmed 3.3% | 290,000 | $6.94M |
| Ur-energy Inc | 7.0% | Trimmed 20% | 4,976,507 | $6.77M |
| West Fraser Timber Co Ltd | 5.9% | New | 85,000 | $5.75M |
| Mosaic Co | 5.6% | New | 255,000 | $5.4M |
| Transocean Ltd | 5.4% | Trimmed 19% | 1,075,100 | $5.26M |
| Denison Mines Corp | 4.9% | Added 72% | 1,550,000 | $4.74M |
| CE Cenovus Energy Inc | 4.6% | Trimmed 49% | 180,000 | $4.47M |
| SA Solstice Advanced Matls Inc | 4.3% | Trimmed 51% | 47,500 | $4.21M |
| Denison Mines Corp Call | 3.6% | Added 667% | 1,150,000 | $3.52M |
| TN Tidewater Inc New | 3.1% | New | 45,000 | $3M |
| OP Occidental Pete Corp | 2.5% | New | 50,000 | $2.43M |
| Fermi Inc | 2.4% | New | 250,000 | $2.29M |
| UR Uranium Rty Corp | 2.3% | New | 799,557 | $2.22M |
| Solv Energy Inc | 0.9% | New | 25,000 | $851K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Exxon Mobil Corp | Exited | −170,000 | −$28.8M | — |
| VE Vaneck ETF Trust | Exited | −185,000 | −$24.6M | — |
| Exxon Mobil Corp | Trimmed | −155,000 | −$21.2M | 8.7% |
| PB Petroleo Brasileiro S A | Exited | −740,000 | −$15.4M | — |
| Nexgen Energy Ltd | Exited | −1,237,817 | −$14.4M | — |
| GX Global X Fds | New | +260,000 | +$11.4M | 11.7% |
| PB Petroleo Brasileiro S A | Exited | −500,000 | −$10.4M | — |
| Mosaic Co | New | +375,000 | +$7.95M | 8.2% |
| SF Sprott Fds Tr | Added | +150,000 | +$7.89M | 11.9% |
| SA Solstice Advanced Matls Inc | Exited | −97,000 | −$7.39M | — |
Showing the 10 largest of 35 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Exxon Mobil Corp | New | +217,000 | +$36.8M | 15.1% |
| Exxon Mobil Corp | New | +170,000 | +$28.8M | 11.8% |
| Cameco Corp | Trimmed | −240,000 | −$26.1M | 1.2% |
| VE Vaneck ETF Trust | New | +185,000 | +$24.6M | 10.1% |
| Nexgen Energy Ltd | Trimmed | −1,800,000 | −$20.9M | 5.9% |
| SA Solstice Advanced Matls Inc | Trimmed | −247,500 | −$18.8M | 3.0% |
| Denison Mines Corp | Trimmed | −5,200,000 | −$18.4M | 1.3% |
| PB Petroleo Brasileiro S A | New | +740,000 | +$15.4M | 6.3% |
| SF Sprott Fds Tr | Trimmed | −233,700 | −$14.8M | 1.8% |
| PB Petroleo Brasileiro S A | New | +500,000 | +$10.4M | 4.2% |
Showing the 10 largest of 37 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| GX Global X Fds | Exited | −850,000 | −$40.5M | — |
| SA Solstice Advanced Matls Inc | New | +345,000 | +$16.8M | 8.1% |
| SF Sprott Fds Tr | Trimmed | −186,829 | −$10.3M | 8.0% |
| LI Lyondellbasell Industries N | Exited | −180,000 | −$8.83M | — |
| JH Jinkosolar Hldg Co Ltd | Trimmed | −340,000 | −$8.78M | 4.2% |
| Westlake Corporation | Exited | −110,000 | −$8.48M | — |
| Daqo New Energy Corp | Trimmed | −285,000 | −$8.41M | 2.6% |
| Transocean Ltd | New | +2,000,000 | +$8.26M | 4.0% |
| CD Celanese Corp Del | New | +190,000 | +$8.03M | 3.9% |
| HI Honeywell Intl Inc | New | +39,000 | +$7.61M | 3.7% |
Showing the 10 largest of 23 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| GX Global X Fds | New | +850,000 | +$40.5M | 15.8% |
| Ur-energy Inc | Added | +12,248,616 | +$21.9M | 9.1% |
| SF Sprott Fds Tr | Added | +345,000 | +$20.8M | 11.5% |
| Cameco Corp | Trimmed | −245,000 | −$20.5M | 7.1% |
| Valaris Ltd | New | +280,000 | +$13.7M | 5.3% |
| Uranium Energy Corp | Exited | −1,900,000 | −$12.9M | — |
| LI Lyondellbasell Industries N | New | +180,000 | +$8.83M | 3.4% |
| Nexgen Energy Ltd | Added | +975,000 | +$8.73M | 12.2% |
| KM Kinder Morgan Inc Del | Exited | −295,000 | −$8.67M | — |
| Westlake Corporation | New | +110,000 | +$8.48M | 3.3% |
Showing the 10 largest of 25 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| JH Jinkosolar Hldg Co Ltd | New | +571,877 | +$12.1M | 8.0% |
| Nexgen Energy Ltd | Trimmed | −1,700,000 | −$11.8M | 11.4% |
| SE Suncor Energy Inc New | Exited | −235,000 | −$9.1M | — |
| KM Kinder Morgan Inc Del | New | +295,000 | +$8.67M | 5.7% |
| Antero Resources Corp | Exited | −200,000 | −$8.09M | — |
| Cameco Corp | New | +100,000 | +$7.42M | 4.9% |
| SF Sprott Fds Tr | New | +145,000 | +$6.95M | 4.6% |
| CE Cenovus Energy Inc | Exited | −425,000 | −$5.91M | — |
| Warrior Met Coal Inc | Exited | −113,124 | −$5.4M | — |
| Transocean Ltd | New | +2,025,000 | +$5.24M | 3.4% |
Showing the 10 largest of 25 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Shell PLC | Exited | −320,000 | −$20M | — |
| Nexgen Energy Ltd | Added | +2,300,000 | +$10.3M | 13.9% |
| SE Suncor Energy Inc New | New | +235,000 | +$9.1M | 6.7% |
| Uranium Energy Corp | Added | +1,500,000 | +$7.17M | 8.4% |
| SF Sprott Fds Tr | Exited | −174,750 | −$7.04M | — |
| Expand Energy Corporation | New | +59,000 | +$6.57M | 4.8% |
| Encore Energy Corp | Exited | −1,784,200 | −$6.08M | — |
| Ur-energy Inc | Trimmed | −8,794,530 | −$5.93M | 2.8% |
| Daqo New Energy Corp | New | +320,000 | +$5.8M | 4.2% |
| Denison Mines Corp | Added | +4,350,000 | +$5.66M | 6.1% |
Showing the 10 largest of 23 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SF Sprott Fds Tr | Exited | −500,000 | −$22.9M | — |
| Shell PLC | New | +320,000 | +$20M | 13.1% |
| Nexgen Energy Ltd | Exited | −2,000,000 | −$13.1M | — |
| SF Sprott Fds Tr | Trimmed | −320,250 | −$12.9M | 4.6% |
| S Schlumberger Ltd | Exited | −305,000 | −$12.8M | — |
| Cameco Corp | Trimmed | −240,462 | −$12.4M | 14.1% |
| MC Mosaic Co New | Exited | −360,000 | −$9.64M | — |
| RR Range Res Corp | Exited | −310,000 | −$9.54M | — |
| CE Cenovus Energy Inc | New | +600,000 | +$9.09M | 5.9% |
| Warrior Met Coal Inc | New | +155,000 | +$8.41M | 5.5% |
Showing the 10 largest of 33 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SF Sprott Fds Tr | New | +500,000 | +$22.9M | 9.5% |
| SF Sprott Fds Tr | New | +495,000 | +$22.7M | 9.4% |
| Valaris Ltd | Exited | −228,715 | −$17M | — |
| Ur-energy Inc | Added | +12,662,500 | +$15.1M | 10.3% |
| GX Global X Fds | Exited | −486,914 | −$14.1M | — |
| Agnico Eagle Mines Ltd | Exited | −206,000 | −$13.5M | — |
| Nexgen Energy Ltd | New | +2,000,000 | +$13.1M | 5.4% |
| S Schlumberger Ltd | New | +305,000 | +$12.8M | 5.3% |
| Cameco Corp | Added | +217,714 | +$10.4M | 13.1% |
| Encore Energy Corp | New | +2,484,200 | +$10M | 4.2% |
Showing the 10 largest of 32 changes.
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