Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$199M in Q2 2013 → $418M 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 |
|---|---|---|---|---|
| Adeia Inc | 7.0% | Trimmed 12% | 885,551 | $29.2M |
| CM Coeur Mng Inc | 6.8% | Trimmed 0.1% | 1,736,886 | $28.3M |
| N Nokia Corp | 6.5% | Trimmed 18% | 2,056,442 | $27.3M |
| TM Trilogy Metals Inc New | 5.7% | Added 0.3% | 6,777,100 | $23.8M |
| CD Compania De Minas Buenaventu | 4.9% | Trimmed 0.1% | 692,369 | $20.3M |
| ML Maui Ld & Pineapple Inc | 4.7% | Trimmed 0.3% | 1,098,901 | $19.5M |
| CE Cia Energetica De Minas Gera | 4.6% | Unchanged | 9,123,551 | $19.2M |
| Corteva Inc | 4.3% | Trimmed 0.0% | 211,579 | $17.9M |
| Mannkind Corp | 4.0% | Added 19% | 3,972,675 | $16.9M |
| IS Ishares Silver Tr | 3.4% | Unchanged | 264,925 | $14.2M |
| Consolidated Water Co Inc | 3.4% | Unchanged | 479,200 | $14.1M |
| CT Celldex Therapeutics Inc New | 3.3% | Trimmed 1.1% | 371,127 | $13.8M |
| Freeport Mcmoran Inc | 3.2% | Trimmed 0.2% | 213,575 | $13.4M |
| Novavax Inc | 3.2% | Added 2.1% | 1,419,365 | $13.4M |
| MW Middlesex Wtr Co | 2.8% | Added 0.3% | 211,037 | $11.9M |
| Xylem Inc | 2.5% | Added 0.0% | 88,018 | $10.4M |
| N Newmont Corp | 2.3% | Unchanged | 103,966 | $9.71M |
| GW Global Wtr Res Inc | 2.3% | Added 13% | 1,340,305 | $9.7M |
| Stratasys Ltd | 2.3% | Added 0.0% | 1,111,050 | $9.51M |
| Sibanye Stillwater Ltd | 2.2% | Added 13% | 1,097,375 | $9.32M |
| WM Waste Mgmt Inc Del | 2.2% | Unchanged | 41,465 | $9.24M |
| WU Western Un Co | 2.1% | Added 3.0% | 1,125,159 | $8.66M |
| AW American Wtr Wks Co Inc New | 2.0% | Added 11% | 63,410 | $8.34M |
| SG SPDR Gold Tr | 1.8% | Unchanged | 20,414 | $7.52M |
| Xperi Inc | 1.7% | Added 7.0% | 879,076 | $7.23M |
| Warner Bros Discovery Inc | 1.4% | Trimmed 0.2% | 213,942 | $5.7M |
| BG Barings Global Short Duratio | 1.4% | Trimmed 1.7% | 402,228 | $5.67M |
| America Movil Sab De Cv | 1.2% | Unchanged | 189,121 | $4.92M |
| Merck & Co Inc | 1.2% | Unchanged | 37,594 | $4.83M |
| BP Barings Partn Invs | 1.1% | Added 0.0% | 276,671 | $4.66M |
| KA Kayne Anderson Energy Infrst | 0.9% | Unchanged | 270,525 | $3.74M |
| HJ Hancock John Pfd Income Fd | 0.8% | Added 0.5% | 202,635 | $3.28M |
| Enbridge Inc | 0.6% | Unchanged | 44,251 | $2.4M |
| DE Duke Energy Corp New | 0.5% | Added 0.0% | 17,627 | $2.23M |
| BC Barings Corporate Invs | 0.4% | Added 5.4% | 86,732 | $1.52M |
| CS Cisco Sys Inc | 0.3% | Trimmed 1.8% | 11,100 | $1.3M |
| PB Pitney Bowes Inc | 0.3% | Trimmed 2.4% | 61,300 | $1.07M |
| KR Kimbell Rty Partners LP | 0.2% | Unchanged | 67,850 | $986K |
| Medtronic PLC | 0.2% | Trimmed 4.7% | 10,200 | $798K |
| Bristol-myers Squibb Co | 0.2% | Unchanged | 12,175 | $702K |
| Pfizer Inc | 0.2% | Trimmed 3.5% | 27,500 | $662K |
| Weyerhaeuser Co | 0.1% | Unchanged | 20,811 | $498K |
| Conagra Brands Inc | 0.0% | Unchanged | 13,650 | $184K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed July 31, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| N Nokia Corp | Trimmed | −438,750 | −$5.83M | 6.5% |
| Adeia Inc | Trimmed | −126,076 | −$4.15M | 7.0% |
| Mannkind Corp | Added | +628,700 | +$2.68M | 4.0% |
| C Corning Inc | Exited | −12,500 | −$1.7M | — |
| GW Global Wtr Res Inc | Added | +158,161 | +$1.15M | 2.3% |
| Sibanye Stillwater Ltd | Added | +125,000 | +$1.06M | 2.2% |
| AW American Wtr Wks Co Inc New | Added | +6,200 | +$816K | 2.0% |
| Assertio Holdings Inc | Exited | −25,056 | −$478K | — |
| Xperi Inc | Added | +57,782 | +$476K | 1.7% |
| Novavax Inc | Added | +28,800 | +$271K | 3.2% |
Showing the 10 largest of 31 changes.
quarter ended March 31, 2026 · filed April 24, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NG New Gold Inc Cda | Exited | −3,517,626 | −$30.6M | — |
| CM Coeur Mng Inc | Added | +1,316,536 | +$24.7M | 8.0% |
| IS Ishares Silver Tr | Trimmed | −140,350 | −$9.56M | 4.4% |
| SG SPDR Gold Tr | Trimmed | −20,055 | −$8.63M | 2.1% |
| Sibanye Stillwater Ltd | Trimmed | −596,150 | −$7.34M | 2.9% |
| WU Western Un Co | Added | +738,789 | +$6.45M | 2.3% |
| AW American Wtr Wks Co Inc New | Added | +45,260 | +$6.16M | 1.9% |
| CD Compania De Minas Buenaventu | Trimmed | −134,235 | −$4.84M | 6.1% |
| Xperi Inc | Added | +601,396 | +$3.37M | 1.1% |
| GW Global Wtr Res Inc | Added | +424,438 | +$3.22M | 2.2% |
Showing the 10 largest of 34 changes.
quarter ended December 31, 2025 · filed January 21, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CD Compania De Minas Buenaventu | Trimmed | −174,140 | −$4.85M | 5.6% |
| NG New Gold Inc Cda | Trimmed | −459,000 | −$4M | 7.5% |
| GW Global Wtr Res Inc | Added | +435,129 | +$3.68M | 1.6% |
| Sibanye Stillwater Ltd | Trimmed | −251,100 | −$3.58M | 5.5% |
| MW Middlesex Wtr Co | Added | +68,854 | +$3.47M | 2.3% |
| AW American Wtr Wks Co Inc New | New | +11,950 | +$1.56M | 0.4% |
| Stratasys Ltd | Added | +143,800 | +$1.25M | 2.3% |
| WU Western Un Co | Trimmed | −108,122 | −$1.01M | 0.8% |
| Warner Bros Discovery Inc | Trimmed | −20,200 | −$582K | 2.2% |
| IS Ishares Silver Tr | Trimmed | −7,250 | −$467K | 6.4% |
Showing the 10 largest of 42 changes.
quarter ended September 30, 2025 · filed October 22, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CM Coeur Mng Inc | Trimmed | −220,000 | −$4.13M | 2.2% |
| NG New Gold Inc Cda | Trimmed | −549,100 | −$3.94M | 7.6% |
| GW Global Wtr Res Inc | New | +322,577 | +$3.32M | 0.9% |
| Warner Bros Discovery Inc | Trimmed | −141,525 | −$2.76M | 1.7% |
| IS Ishares Silver Tr | Trimmed | −53,350 | −$2.26M | 4.7% |
| Xylem Inc | Trimmed | −11,701 | −$1.73M | 3.5% |
| N Newmont Corp | Trimmed | −16,793 | −$1.42M | 2.4% |
| TM Trilogy Metals Inc New | Added | +562,500 | +$1.18M | 3.8% |
| N Nokia Corp | Added | +200,400 | +$964K | 3.2% |
| SG SPDR Gold Tr | Trimmed | −2,145 | −$762K | 3.9% |
Showing the 10 largest of 36 changes.
quarter ended June 30, 2025 · filed August 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eli Lilly & Co | Exited | −7,875 | −$6.5M | — |
| NG New Gold Inc Cda | Trimmed | −1,185,874 | −$5.87M | 7.0% |
| Sibanye Stillwater Ltd | Added | +436,200 | +$3.15M | 4.1% |
| AW American Wtr Wks Co Inc New | Exited | −9,950 | −$1.47M | — |
| TM Trilogy Metals Inc New | Added | +930,000 | +$1.26M | 2.6% |
| Mannkind Corp | Added | +201,225 | +$753K | 3.5% |
| CT Celldex Therapeutics Inc New | Added | +35,450 | +$721K | 2.4% |
| Merck & Co Inc | Added | +6,100 | +$483K | 0.9% |
| CM Coeur Mng Inc | Trimmed | −53,725 | −$476K | 1.8% |
| America Movil Sab De Cv | Trimmed | −22,093 | −$396K | 1.1% |
Showing the 10 largest of 36 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eli Lilly & Co | Trimmed | −6,365 | −$5.26M | 2.1% |
| NG New Gold Inc Cda | Trimmed | −814,350 | −$3.02M | 7.0% |
| CT Celldex Therapeutics Inc New | Added | +112,634 | +$2.04M | 2.0% |
| Sibanye Stillwater Ltd | Added | +309,300 | +$1.42M | 2.1% |
| Mannkind Corp | Added | +261,600 | +$1.32M | 4.6% |
| SG SPDR Gold Tr | Trimmed | −2,575 | −$742K | 4.1% |
| BG Barings Global Short Duratio | Trimmed | −41,840 | −$633K | 1.7% |
| Stratasys Ltd | Added | +59,600 | +$583K | 2.9% |
| America Movil Sab De Cv | Trimmed | −40,500 | −$576K | 1.0% |
| Adeia Inc | Trimmed | −32,215 | −$426K | 4.4% |
Showing the 10 largest of 39 changes.
quarter ended December 31, 2024 · filed January 30, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eli Lilly & Co | Trimmed | −4,435 | −$3.42M | 3.7% |
| WU Western Un Co | Trimmed | −63,964 | −$678K | 1.6% |
| CT Celldex Therapeutics Inc New | Trimmed | −24,477 | −$619K | 1.9% |
| Xylem Inc | Trimmed | −5,196 | −$603K | 4.1% |
| Warner Bros Discovery Inc | Trimmed | −46,450 | −$491K | 1.7% |
| N Nokia Corp | Added | +70,100 | +$311K | 3.4% |
| Sibanye Stillwater Ltd | Added | +81,400 | +$269K | 1.2% |
| Consolidated Water Co Inc | Added | +7,075 | +$183K | 4.2% |
| ML Maui Ld & Pineapple Inc | Trimmed | −7,000 | −$154K | 8.3% |
| NG New Gold Inc Cda | Trimmed | −51,850 | −$129K | 5.5% |
Showing the 10 largest of 35 changes.
quarter ended September 30, 2024 · filed October 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NG New Gold Inc Cda | Trimmed | −2,827,950 | −$8.14M | 5.9% |
| Warner Bros Discovery Inc | Trimmed | −720,200 | −$5.94M | 1.3% |
| America Movil Sab De Cv | Trimmed | −346,247 | −$5.66M | 1.3% |
| WU Western Un Co | Added | +328,915 | +$3.92M | 1.9% |
| Stratasys Ltd | Added | +411,600 | +$3.42M | 2.2% |
| WM Waste Mgmt Inc Del | Trimmed | −5,510 | −$1.14M | 2.7% |
| EM Exxon Mobil Corp | Exited | −8,845 | −$1.02M | — |
| CM Coeur Mng Inc | Trimmed | −123,700 | −$851K | 1.5% |
| Mannkind Corp | Added | +121,850 | +$766K | 4.9% |
| ML Maui Ld & Pineapple Inc | Trimmed | −26,950 | −$605K | 7.8% |
Showing the 10 largest of 39 changes.
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