Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
103
Top-10 weight
39.43%
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.
39
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.
542.6
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | LINDE PLC | — | 50,301 | $24.94M | 7.82% |
| 2 | BHP GROUP LTD | — | 547,093 | $19.80M | 6.21% |
| 3 | L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | AIQUF | 62,315 | $12.88M | 4.04% |
| 4 | NEWMONT CORP | — | 117,550 | $12.72M | 3.99% |
| 5 | AGNICO EAGLE MINES LTD | — | 53,973 | $10.96M | 3.44% |
| 6 | RIO TINTO PLC | — | 114,863 | $10.66M | 3.34% |
| 7 | FREEPORT MCMORAN INC | — | 154,814 | $9.10M | 2.85% |
| 8 | SHIN-ETSU CHEM | — | 214,100 | $8.72M | 2.73% |
| 9 | SHERWIN WILLIAMS CO | — | 24,838 | $7.96M | 2.50% |
| 10 | GLENCORE PLC | — | 1,023,934 | $7.76M | 2.43% |
| 11 | CRH PLC | — | 72,203 | $7.59M | 2.38% |
| 12 | BARRICK MINING CORP | — | 180,470 | $7.38M | 2.31% |
| 13 | ECOLAB INC | — | 27,462 | $7.31M | 2.29% |
| 14 | AIR PRODUCTS and CHEMICALS INC | — | 23,988 | $6.97M | 2.19% |
| 15 | WHEATON PRECIOUS METALS CORP | — | 48,909 | $6.42M | 2.01% |
| 16 | Vale S.A. SPONS ADS REPR 1 COM NPV | VALE US | 386,261 | $6.15M | 1.93% |
| 17 | CORTEVA INC | — | 72,446 | $6.06M | 1.90% |
| 18 | BASF SE COMMON STOCK | BAS | 96,143 | $5.92M | 1.86% |
| 19 | ANGLO AMER PLC | — | 126,902 | $5.45M | 1.71% |
| 20 | FRANCO-NEVADA CORP | — | 20,769 | $5.14M | 1.61% |
| 21 | RIO TINTO LTD | — | 40,059 | $4.55M | 1.43% |
| 22 | HOLCIM LTD | — | 54,349 | $4.49M | 1.41% |
| 23 | NUCOR CORP | — | 24,661 | $4.17M | 1.31% |
| 24 | KINROSS GOLD CORP | — | 129,317 | $3.95M | 1.24% |
| 25 | NUTRIEN LTD | — | 51,882 | $3.92M | 1.23% |
| 26 | VULCAN MATERIALS CO | — | 14,241 | $3.88M | 1.22% |
| 27 | MARTIN MAR MTLS | — | 6,503 | $3.83M | 1.20% |
| 28 | GRUPO MEXICO-B | — | 336,231 | $3.60M | 1.13% |
| 29 | DOW INC | — | 77,342 | $3.22M | 1.01% |
| 30 | Givaudan SA (Registered) | GIVN | 880 | $2.98M | 0.93% |
| 31 | HEIDELBERG MATERIALS AG COMMON STOCK | HEI | 13,701 | $2.89M | 0.91% |
| 32 | SIKA AG-REG | — | 17,290 | $2.86M | 0.90% |
| 33 | STEEL DYNAMICS INC | — | 14,822 | $2.67M | 0.84% |
| 34 | PPG INDUSTRIES INC | — | 24,224 | $2.59M | 0.81% |
| 35 | FORTESCUE METALS | — | 178,575 | $2.55M | 0.80% |
| 36 | TECK RESOURCES-B | — | 48,145 | $2.50M | 0.78% |
| 37 | ARCELORMITTAL | — | 45,781 | $2.37M | 0.74% |
| 38 | ALBEMARLE CORP | — | 12,660 | $2.27M | 0.71% |
| 39 | NORTHERN STAR RE | — | 154,625 | $2.25M | 0.70% |
| 40 | SMURFIT WESTROCK | — | 56,246 | $2.24M | 0.70% |
| 41 | LYONDELLBASELL-A | — | 27,735 | $2.23M | 0.70% |
| 42 | NOVOZYMES A S | NSISB | 37,005 | $2.20M | 0.69% |
| 43 | CF INDUSTRIES HOLDINGS INC | — | 16,803 | $2.18M | 0.68% |
| 44 | NIPPON STEEL COR | — | 581,345 | $2.14M | 0.67% |
| 45 | PACKAGING CORP OF AMERICA | — | 9,622 | $2.04M | 0.64% |
| 46 | INTL PAPER CO | — | 56,895 | $2.03M | 0.64% |
| 47 | DUPONT DE NEMOURS INC | — | 43,952 | $2.01M | 0.63% |
| 48 | INTL FLVR & FRAG | — | 27,509 | $2.00M | 0.63% |
| 49 | CFD_EQS BARCUS33 BV7DQ55 | AMCR US | 49,939 | $1.99M | 0.62% |
| 50 | EVOLUTION MINING LTD | — | 218,102 | $1.96M | 0.62% |
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