Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
51
Top-10 weight
39.15%
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.
37
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.
682.1
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | TEXAS PACIFIC LAND CORP | — | 5,955 | $2.83M | 6.28% |
| 2 | MSILF-GOVT-INS | MVRXX | 2,232,795 | $2.23M | 4.97% |
| 3 | Sprott Physical Gold Trust USD Class | PHYS | 60,000 | $2.13M | 4.73% |
| 4 | US TREASURY N/B | — | 2,000,000 | $1.96M | 4.37% |
| 5 | BLACK STONE MINERALS LP PARTNERSHIP SHARES | BSM | 100,336 | $1.52M | 3.37% |
| 6 | TICEMORAN | — | 500,000 | $1.47M | 3.28% |
| 7 | LLR EQUITY PARTNERS V, L.P. | LLREPV | 990,000 | $1.45M | 3.23% |
| 8 | MLP | ET | 72,500 | $1.40M | 3.11% |
| 9 | EXXON MOBIL CORP | — | 7,936 | $1.35M | 2.99% |
| 10 | DIAMONDBACK ENERGY INC | — | 6,500 | $1.29M | 2.86% |
| 11 | EXPAND ENERGY CORP | — | 11,400 | $1.25M | 2.78% |
| 12 | OCCIDENTAL PETROLEUM CORP | — | 18,600 | $1.21M | 2.69% |
| 13 | JPMORGAN CHASE and CO | — | 4,100 | $1.21M | 2.68% |
| 14 | Pioneer ILS Interval Fund | XILSX | 117,583 | $1.20M | 2.68% |
| 15 | Invesco Government & Agency Portfolio, Institutional Class | — | 1,073,228 | $1.07M | 2.39% |
| 16 | AMAZON.COM INC | — | 5,000 | $1.04M | 2.32% |
| 17 | JPM ULTRA-SHT IN | JPST | 20,000 | $1.01M | 2.25% |
| 18 | U.S. Treasury Bills | B | 1,000,000 | $997.08K | 2.22% |
| 19 | ABBVIE INC | — | 4,200 | $913.46K | 2.03% |
| 20 | TJX COS INC | — | 5,700 | $910.29K | 2.02% |
| 21 | Absolute Convertible Arbitrage Fund | ARBIX | 74,764 | $874.74K | 1.95% |
| 22 | CHUBB LTD | — | 2,500 | $814.82K | 1.81% |
| 23 | MICROSOFT CORP | — | 2,200 | $814.37K | 1.81% |
| 24 | FIRST INDUSTRIAL REALTY TRUST | — | 14,000 | $809.90K | 1.80% |
| 25 | HERSHEY CO/THE | — | 3,690 | $767.11K | 1.71% |
| 26 | FRANCO-NEVADA CORP | — | 3,100 | $765.86K | 1.70% |
| 27 | BUNGE GLOBAL SA | — | 5,550 | $705.96K | 1.57% |
| 28 | CISCO SYSTEMS INC | — | 9,000 | $698.31K | 1.55% |
| 29 | HUBBELL INC | — | 1,400 | $687.04K | 1.53% |
| 30 | PIMCO Flexible Credit Income Fund | PFLEX | 97,928 | $670.81K | 1.49% |
| 31 | LOUISIANA PACIFIC CORP | — | 8,600 | $625.65K | 1.39% |
| 32 | BERKSHIRE HATH-B | — | 1,300 | $622.96K | 1.39% |
| 33 | PIMCO ENHANCED SHORT MATURITY PIMCO ENHANCED SHORT MATURIT | MINT | 6,000 | $603.42K | 1.34% |
| 34 | MARTIN MAR MTLS | — | 1,000 | $588.68K | 1.31% |
| 35 | JOHNSON&JOHNSON | — | 2,400 | $586.66K | 1.30% |
| 36 | LOWES COS INC | — | 2,200 | $519.82K | 1.16% |
| 37 | CANADIAN PACIFIC KANSAS CITY LTD | — | 6,500 | $511.29K | 1.14% |
| 38 | US TREASURY N/B | — | 500,000 | $501.07K | 1.11% |
| 39 | RCPSELECT | — | 500,000 | $500.00K | 1.11% |
| 40 | CLICAPITA | — | 95,455 | $476.91K | 1.06% |
| 41 | LRVHEALTH, LP | — | 490,000 | $465.50K | 1.04% |
| 42 | Regan Total Return Income Fund | RCIRX | 47,441 | $451.64K | 1.00% |
| 43 | NORTHROP GRUMMAN CORP | — | 650 | $443.46K | 0.99% |
| 44 | JPMorgan Nasdaq Equity Premium Income ETF | JEPQ | 7,200 | $399.74K | 0.89% |
| 45 | LLR Equity Partners VII, LP | — | 320,000 | $340.52K | 0.76% |
| 46 | Baron Real Estate Fund | BREIX | 8,137 | $312.63K | 0.70% |
| 47 | Nuveen Preferred And Income ETF | NPFI | 12,000 | $309.20K | 0.69% |
| 48 | DISCOVER BANK | — | 225,000 | $225.88K | 0.50% |
| 49 | FREEPORT-MCMORAN | — | 175,000 | $173.71K | 0.39% |
| 50 | CHENIERE ENERGY | — | 155,000 | $154.60K | 0.34% |
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