Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
40
Top-10 weight
59.32%
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.
21
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.
444.2
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | GLENCORE PLC | — | 273,404 | $2.07M | 9.53% |
| 2 | FREEPORT MCMORAN INC | — | 30,104 | $1.77M | 8.14% |
| 3 | BHP GROUP LTD | — | 46,072 | $1.67M | 7.67% |
| 4 | CAMECO CORP | — | 12,271 | $1.33M | 6.13% |
| 5 | ANGLO AMER PLC | — | 29,170 | $1.25M | 5.76% |
| 6 | ANGLOGOLD ASHANTI PLC | — | 10,150 | $988.20K | 4.55% |
| 7 | GRUPO MEXICO-B | — | 88,555 | $948.25K | 4.36% |
| 8 | NEWMONT CORP | — | 8,606 | $931.60K | 4.29% |
| 9 | WHEATON PRECIOUS METALS CORP | — | 7,095 | $929.52K | 4.28% |
| 10 | SUMITOMO CORP | — | 24,799 | $927.96K | 4.27% |
| 11 | BARRICK MINING CORP | — | 22,194 | $905.29K | 4.17% |
| 12 | TECK RESOURCES-B | — | 13,295 | $688.02K | 3.17% |
| 13 | NAC KAZATOMPROM JSC GDR RGS | NATKY | 7,347 | $580.16K | 2.67% |
| 14 | ALCOA CORP | — | 7,304 | $484.47K | 2.23% |
| 15 | LUNDIN MINING CORP | — | 19,318 | $481.73K | 2.22% |
| 16 | FIRST QUANTUM | — | 19,302 | $461.49K | 2.12% |
| 17 | BOLIDEN AB | — | 7,942 | $416.33K | 1.92% |
| 18 | ANTOFAGASTA PLC | — | 8,980 | $402.70K | 1.85% |
| 19 | SOUTH32 LTD-DI | — | 127,688 | $386.64K | 1.78% |
| 20 | SUMITOMO MET MIN | — | 6,599 | $384.08K | 1.77% |
| 21 | NORSK HYDRO ASA | — | 35,881 | $382.43K | 1.76% |
| 22 | Southern Copper Corporation COM USD0.01 | SCCO US | 2,157 | $371.13K | 1.71% |
| 23 | JX ADVANCED META | — | 15,199 | $336.87K | 1.55% |
| 24 | Sociedad Quimica y Minera de Chile S A ADR(REPR 1 PRF SER'B') | SQM US | 4,018 | $325.22K | 1.50% |
| 25 | VEDANTA LTD | — | 46,034 | $322.98K | 1.49% |
| 26 | MITSUI MINING & | — | 1,499 | $284.34K | 1.31% |
| 27 | KGHM | — | 3,875 | $283.11K | 1.30% |
| 28 | SIBANYE-STILLWATER LTD-ADR DEPOSITARY RECEIPT | SBSW | 20,046 | $246.97K | 1.14% |
| 29 | Compania de Minas Buenaventura S.A.A. SPONSORED ADR | BVN US | 5,826 | $209.97K | 0.97% |
| 30 | OCEANAGOLD CORP | — | 6,497 | $204.84K | 0.94% |
| 31 | SSR MINING INC | — | 5,670 | $166.70K | 0.77% |
| 32 | CAPSTONE COPPER | — | 15,669 | $118.16K | 0.54% |
| 33 | ENERGY FUELS INC | — | 6,383 | $116.49K | 0.54% |
| 34 | CENTERRA GOLD IN | — | 5,669 | $100.82K | 0.46% |
| 35 | ILUKA RESOURCES | — | 12,119 | $56.97K | 0.26% |
| 36 | ELKEM ASA COMMON STOCK NOK5.0 | ELK NO | 7,530 | $22.04K | 0.10% |
| 37 | ERAMET | — | 256 | $15.31K | 0.07% |
| 38 | FERROGLOBE PLC | GSM | 3,356 | $13.83K | 0.06% |
| 39 | INTREPID POTASH INC | — | 302 | $12.92K | 0.06% |
| 40 | Encore Energy Corporation | EU US | 5,160 | $9.29K | 0.04% |
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