Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
101
Top-10 weight
33.17%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
48
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
152.2
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | CENOVUS ENERGY INC | — | 3,345,144 | $88.78M | 6.86% |
| 2 | EQUINOX GOLD COR | — | 3,706,850 | $53.53M | 4.14% |
| 3 | INTERNATIONAL PE | — | 1,839,691 | $49.62M | 3.84% |
| 4 | Precision Drilling Corporation | PDS | 492,753 | $48.49M | 3.75% |
| 5 | CAPITAL LTD COMMON STOCK USD.0001 | CAPD LN | 23,042,304 | $36.29M | 2.81% |
| 6 | VERMILION ENERGY | — | 2,514,494 | $34.65M | 2.68% |
| 7 | BANK OF CYPRUS H | — | 3,143,618 | $30.60M | 2.37% |
| 8 | ATHABASCA OIL CO | — | 3,653,213 | $29.54M | 2.28% |
| 9 | PBF ENERGY INC CL A | — | 602,476 | $28.69M | 2.22% |
| 10 | ADVANSIX INC | — | 1,174,992 | $28.67M | 2.22% |
| 11 | HALLADOR PETROLEUM CO | — | 1,751,501 | $28.51M | 2.20% |
| 12 | HARLEY-DAVIDSON INC | — | 1,369,000 | $27.68M | 2.14% |
| 13 | RYERSON HOLDING CORP | — | 1,095,496 | $24.63M | 1.90% |
| 14 | JET2 PLC COMMON STOCK GBP.0125 | JET2 LN | 1,573,194 | $23.45M | 1.81% |
| 15 | TIDEWATER INC | — | 266,406 | $22.26M | 1.72% |
| 16 | NATURAL GAS SERVICES GROUP | — | 576,416 | $21.75M | 1.68% |
| 17 | DPM METALS INC | — | 606,525 | $21.36M | 1.65% |
| 18 | MOSAIC CO/THE | — | 826,536 | $21.08M | 1.63% |
| 19 | SEPLAT ENERGY PLC COMMON STOCK | SEPL | 3,133,891 | $20.57M | 1.59% |
| 20 | OREZONE GOLD CORP | ORE CN | 11,906,848 | $20.20M | 1.56% |
| 21 | Kenmare Resources PLC | KMR | 7,033,188 | $19.71M | 1.52% |
| 22 | ALPHAMIN RESOURCES CORP | AFM | 23,181,813 | $19.16M | 1.48% |
| 23 | PERSEUS MINING | — | 5,226,073 | $19.15M | 1.48% |
| 24 | CATALYST METALS | — | 4,033,416 | $18.19M | 1.41% |
| 25 | AKITA Drilling Ltd | AKT/A | 6,652,685 | $17.89M | 1.38% |
| 26 | SM ENERGY CO | — | 550,000 | $17.15M | 1.33% |
| 27 | GLENCORE PLC | — | 2,179,279 | $16.51M | 1.28% |
| 28 | MINERA ALAMOS INC | — | 3,516,766 | $15.50M | 1.20% |
| 29 | GALIANO GOLD INC COMMON STOCK | GAU CN | 6,082,700 | $15.22M | 1.18% |
| 30 | AMERIGO RESOURCES LTD COMMON STOCK | ARG CN | 4,205,137 | $15.21M | 1.18% |
| 31 | RLJ LODGING TRUST | — | 1,948,853 | $14.46M | 1.12% |
| 32 | NORTH AMERICAN CONSTRUCTION GROUP LTD | NOA CN | 1,005,817 | $13.57M | 1.05% |
| 33 | PAREX RESOURCES | — | 687,231 | $13.51M | 1.04% |
| 34 | ELDORADO GOLD | — | 349,946 | $12.02M | 0.93% |
| 35 | U.S. Treasury Bills | B | 12,000,000 | $11.99M | 0.93% |
| 36 | U.S. Treasury Bills | B | 12,000,000 | $11.98M | 0.93% |
| 37 | U.S. Treasury Bills | — | 12,000,000 | $11.97M | 0.93% |
| 38 | U.S. Treasury Bills | B | 12,000,000 | $11.97M | 0.92% |
| 39 | U.S. Treasury Bills | B | 12,000,000 | $11.96M | 0.92% |
| 40 | UST BILLS 0% 05/14/2026 | — | 12,000,000 | $11.95M | 0.92% |
| 41 | U.S. Treasury Bills | — | 12,000,000 | $11.94M | 0.92% |
| 42 | U.S. Treasury Bills | B | 12,000,000 | $11.93M | 0.92% |
| 43 | U.S. Treasury Bills | 912797SX | 12,000,000 | $11.92M | 0.92% |
| 44 | U.S. Treasury Bills | B | 12,000,000 | $11.91M | 0.92% |
| 45 | U.S. Treasury Bills | B | 12,000,000 | $11.91M | 0.92% |
| 46 | U.S. Treasury Bills | — | 12,000,000 | $11.90M | 0.92% |
| 47 | U.S. Treasury Bills | B | 12,000,000 | $11.89M | 0.92% |
| 48 | U.S. Treasury Bills | B | 12,000,000 | $11.88M | 0.92% |
| 49 | U.S. Treasury Bills | — | 12,000,000 | $11.87M | 0.92% |
| 50 | U.S. Treasury Bills | — | 12,000,000 | $11.86M | 0.92% |
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