Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (4 quarters reported)
$131M in Q4 2025 → $165M now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Royal Gold Inc | 8.5% | Added 10% | 59,133 | $14M |
| WG World Gold Tr | 6.9% | Added 0.2% | 138,170 | $11.4M |
| Agnico Eagle Mines Ltd | 5.1% | Added 24% | 45,995 | $8.43M |
| IS Ishares Silver Tr | 4.7% | Added 3.8% | 141,649 | $7.72M |
| B2gold Corp | 4.1% | Added 6.8% | 1,280,793 | $6.69M |
| Conocophillips | 4.0% | Added 7.5% | 52,353 | $6.55M |
| AE Amplify ETF Tr | 3.9% | Added 35% | 232,613 | $6.35M |
| TF Triple Flag Precious Metal | 3.8% | Added 16% | 203,134 | $6.26M |
| RR Range Res Corp | 3.4% | Added 1.2% | 152,171 | $5.64M |
| Alamos Gold Inc | 3.4% | Added 48% | 173,849 | $5.63M |
| FN Franco Nev Corp | 3.4% | Added 4.6% | 23,502 | $5.6M |
| I-80 Gold Corp | 3.2% | Added 2.4% | 3,155,013 | $5.24M |
| Vox Royalty Corp | 2.8% | Added 7.0% | 908,908 | $4.56M |
| Wheaton Precious Metals Corp | 2.6% | Added 2.4% | 31,685 | $4.24M |
| Eqt Corp | 2.4% | Added 0.5% | 82,270 | $4M |
| Chevron Corporation | 2.3% | Added 2.3% | 18,692 | $3.82M |
| SG SPDR Gold Tr | 2.2% | Trimmed 2.0% | 9,726 | $3.7M |
| RE Riley Exploration Permian In | 2.2% | Added 4.8% | 89,637 | $3.59M |
| Or Royalties Inc. | 2.1% | Added 16% | 101,963 | $3.5M |
| Crescent Energy Company | 2.1% | Added 13% | 264,258 | $3.41M |
| Nutrien Ltd | 2.0% | Trimmed 0.7% | 46,896 | $3.29M |
| Exxonmobil Holdings Corp | 2.0% | New | 19,861 | $3.23M |
| Southern Copper Corp | 1.9% | Added 3.2% | 15,062 | $3.05M |
| EP Enterprise Prods Partners L | 1.8% | Added 5.7% | 85,220 | $3.03M |
| PA Pan Amern Silver Corp | 1.8% | Added 22% | 65,400 | $2.98M |
| BM Barrick Mng Corp | 1.6% | Added 10% | 66,729 | $2.71M |
| Woodside Energy Group Ltd | 1.5% | Added 0.3% | 110,407 | $2.45M |
| Enbridge Inc | 1.4% | Added 60% | 48,826 | $2.27M |
| CN Canadian Nat Res Ltd Med Ter | 1.4% | Added 53% | 47,702 | $2.25M |
| Equinox Gold Corp | 1.2% | Added 1673% | 178,797 | $1.99M |
| Newmont Corp | 1.2% | Added 4.9% | 16,730 | $1.93M |
| AP Abrdn Platinum ETF Trust | 1.1% | Trimmed 1.4% | 122,206 | $1.88M |
| GX Global X Fds | 1.1% | Added 95% | 18,472 | $1.85M |
| Noble Corp PLC | 1.1% | Added 23% | 42,077 | $1.76M |
| Expand Energy Corporation | 1.0% | Added 1.5% | 19,045 | $1.6M |
| MR Metalla Rty & Streaming Ltd | 0.9% | Added 1.2% | 151,183 | $1.42M |
| Viper Energy Inc | 0.7% | Added 1.9% | 28,401 | $1.13M |
| ET Energy Transfer L P | 0.6% | New | 51,708 | $1.02M |
| Rio Tinto PLC | 0.5% | Added 5.5% | 9,271 | $873K |
| VE Vaneck ETF Trust | 0.5% | Added 13% | 9,436 | $829K |
| Cameco Corp | 0.5% | Trimmed 1.9% | 9,102 | $789K |
| SA Sprott Asset Management LP | 0.4% | Unchanged | 16,980 | $705K |
| IG Ishares Gold Tr | 0.3% | Trimmed 1.0% | 6,729 | $526K |
| SI SPDR Index Shs Fds | 0.3% | Trimmed 4.9% | 6,172 | $457K |
| IR Integra Res Corp | 0.2% | Trimmed 9.9% | 103,268 | $265K |
| Dakota Gold Corp | 0.1% | Added 26% | 30,297 | $185K |
| Bit Digital Inc | 0.0% | Unchanged | 13,500 | $22K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 3 quarters.
quarter ended September 30, 2026 · filed October 29, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Exxonmobil Holdings Corp | New | +19,861 | +$3.23M | 2.0% |
| Exxon Mobil Corp | Exited | −19,721 | −$2.7M | — |
| Equinox Gold Corp | Added | +168,714 | +$1.87M | 1.2% |
| Alamos Gold Inc | Added | +56,011 | +$1.81M | 3.4% |
| AE Amplify ETF Tr | Added | +60,218 | +$1.64M | 3.9% |
| Agnico Eagle Mines Ltd | Added | +8,887 | +$1.63M | 5.1% |
| Royal Gold Inc | Added | +5,441 | +$1.28M | 8.5% |
| ET Energy Transfer L P | New | +51,708 | +$1.02M | 0.6% |
| GX Global X Fds | Added | +8,994 | +$902K | 1.1% |
| TF Triple Flag Precious Metal | Added | +28,113 | +$866K | 3.8% |
Showing the 10 largest of 48 changes.
quarter ended June 30, 2026 · filed July 23, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WG World Gold Tr | Trimmed | −21,199 | −$1.68M | 8.2% |
| AP Abrdn Platinum ETF Trust | Added | +111,695 | +$1.58M | 1.3% |
| B2gold Corp | Added | +397,758 | +$1.49M | 3.4% |
| Eqt Corp | Added | +24,935 | +$1.33M | 3.3% |
| AE Amplify ETF Tr | Added | +39,105 | +$1.01M | 3.3% |
| BM Barrick Mng Corp | Trimmed | −26,859 | −$987K | 1.7% |
| Newmont Corp | Trimmed | −9,428 | −$881K | 1.1% |
| SG SPDR Gold Tr | Trimmed | −2,260 | −$833K | 2.7% |
| I-80 Gold Corp | Added | +573,963 | +$827K | 3.3% |
| Royal Gold Inc | Added | +4,066 | +$812K | 8.0% |
Showing the 10 largest of 49 changes.
quarter ended March 31, 2026 · filed May 06, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IS Ishares Silver Tr | Trimmed | −204,579 | −$13M | 6.5% |
| AE Amplify ETF Tr | New | +133,290 | +$3.64M | 2.5% |
| I-80 Gold Corp | New | +2,507,979 | +$3.54M | 2.4% |
| RR Range Res Corp | Added | +54,378 | +$2.51M | 4.3% |
| Conocophillips | Added | +18,143 | +$2.41M | 4.3% |
| RE Riley Exploration Permian In | Added | +48,677 | +$1.79M | 2.1% |
| Eqt Corp | Added | +27,018 | +$1.74M | 2.5% |
| Exxon Mobil Corp | Added | +10,067 | +$1.73M | 2.2% |
| DE Devon Energy Corp New | Exited | −41,024 | −$1.5M | — |
| CN Canadian Nat Res Ltd Med Ter | New | +30,419 | +$1.5M | 1.0% |
Showing the 10 largest of 43 changes.
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