Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
69
Top-10 weight
30.84%
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.
51
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.
610.7
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | EXXON MOBIL CORP | — | 214,180 | $36.34M | 4.93% |
| 2 | GLENCORE PLC | — | 3,201,500 | $24.25M | 3.29% |
| 3 | TOTALENERGIES SE | — | 257,700 | $23.65M | 3.21% |
| 4 | NUTRIEN LTD | — | 297,771 | $22.47M | 3.05% |
| 5 | Invesco Treasury Portfolio, Institutional Class | — | 21,813,085 | $21.81M | 2.96% |
| 6 | JBS NV, Class A | JBS | 1,191,550 | $21.40M | 2.90% |
| 7 | ANGLO AMER PLC | — | 480,610 | $20.64M | 2.80% |
| 8 | AGNICO EAGLE MINES LTD | — | 98,206 | $19.93M | 2.71% |
| 9 | CHEVRON CORP | — | 92,400 | $19.12M | 2.59% |
| 10 | NEWMONT CORP | — | 165,855 | $17.95M | 2.44% |
| 11 | KINROSS GOLD CORP | — | 582,400 | $17.77M | 2.41% |
| 12 | SHELL PLC SPONS ADR | — | 190,600 | $17.73M | 2.41% |
| 13 | BARRICK MINING CORP | — | 407,745 | $16.63M | 2.26% |
| 14 | PHILLIPS 66 | — | 90,500 | $16.49M | 2.24% |
| 15 | SUNCOR ENERGY INC | — | 218,700 | $14.47M | 1.96% |
| 16 | FRANCO-NEVADA CORP | — | 58,100 | $14.35M | 1.95% |
| 17 | PAN AMER SILVER | — | 246,700 | $13.48M | 1.83% |
| 18 | ARCHER DANIELS MIDLAND CO | — | 184,100 | $13.38M | 1.82% |
| 19 | SOLARIS OIL IN-A | — | 231,700 | $13.09M | 1.78% |
| 20 | OVINTIV INC | — | 219,100 | $13.01M | 1.77% |
| 21 | Gold Fields Ltd SPONSORED ADR | GFI US | 264,200 | $11.99M | 1.63% |
| 22 | VALERO ENERGY CORP | — | 45,100 | $11.14M | 1.51% |
| 23 | Suzano SA | — | 1,100,800 | $11.03M | 1.50% |
| 24 | EQT CORPORATION | — | 169,000 | $10.76M | 1.46% |
| 25 | KIRBY CORP | — | 80,300 | $10.67M | 1.45% |
| 26 | CAN NATURAL RES | — | 204,500 | $9.98M | 1.35% |
| 27 | PETROCHINA-H | — | 7,245,000 | $9.94M | 1.35% |
| 28 | STEEL DYNAMICS INC | — | 54,700 | $9.85M | 1.34% |
| 29 | BUNGE GLOBAL SA | — | 75,700 | $9.63M | 1.31% |
| 30 | ALCOA CORP | — | 144,600 | $9.59M | 1.30% |
| 31 | CONOCOPHILLIPS | — | 71,741 | $9.47M | 1.29% |
| 32 | NORTHAM PLATINUM HOLDINGS LTD | — | 443,400 | $9.05M | 1.23% |
| 33 | LYNAS RARE EARTH | — | 665,800 | $9.04M | 1.23% |
| 34 | EXPAND ENERGY CORP | — | 81,600 | $8.96M | 1.22% |
| 35 | CORTEVA INC | — | 106,666 | $8.93M | 1.21% |
| 36 | FIRST QUANTUM | — | 372,600 | $8.91M | 1.21% |
| 37 | MOSAIC CO/THE | — | 340,500 | $8.68M | 1.18% |
| 38 | INTL PAPER CO | — | 242,800 | $8.67M | 1.18% |
| 39 | DIAMONDBACK ENERGY INC | — | 43,311 | $8.57M | 1.16% |
| 40 | FREEPORT MCMORAN INC | — | 144,655 | $8.50M | 1.15% |
| 41 | WEYERHAEUSER CO | — | 345,400 | $8.44M | 1.15% |
| 42 | ORMAT TECHNOLOGIES INC | — | 74,740 | $8.36M | 1.14% |
| 43 | SMURFIT WESTROCK PLC | — | 205,800 | $8.20M | 1.11% |
| 44 | YELLOW CAKE PLC/LONDON | YCA LN | 1,023,000 | $8.19M | 1.11% |
| 45 | PACKAGING CORP OF AMERICA | — | 38,600 | $8.19M | 1.11% |
| 46 | MARATHON PETROLEUM CORP | — | 33,400 | $8.16M | 1.11% |
| 47 | ALAMOS GOLD INC A | — | 182,300 | $8.10M | 1.10% |
| 48 | ARCELORMITTAL CL A SPN GDR (NY REG) | — | 152,600 | $7.93M | 1.08% |
| 49 | HUDBAY MINERALS | — | 366,100 | $7.65M | 1.04% |
| 50 | TYSON FOODS INC CL A | — | 111,800 | $7.16M | 0.97% |
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