Portfolio concentration
As of April 30, 2026 · N-PORT
Holdings
196
Top-10 weight
38.85%
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.
32
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.
410.6
Holdings
As of April 30, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | GOLD BULLION | — | 232,340 | $1.07B | 14.13% |
| 2 | SILVER BULLION | — | 5,759,368 | $423.51M | 5.58% |
| 3 | TEXAS PACIFIC LAND CORP | — | 570,000 | $252.89M | 3.33% |
| 4 | GOLD/US GOLDEN EAGLES | — | 50,000 | $236.35M | 3.11% |
| 5 | GOLD CANADIAN MAPLE LEAF | — | 40,000 | $188.83M | 2.49% |
| 6 | PALANTIR TECHNOLOGIES INC | — | 1,200,000 | $166.93M | 2.20% |
| 7 | SWITZERLAND CONFEDERATION 0% 06/22/2029 REGS | — | 130,000,000 | $165.54M | 2.18% |
| 8 | NVIDIA CORP | — | 750,000 | $149.68M | 1.97% |
| 9 | FREEPORT MCMORAN INC | — | 2,400,000 | $138.67M | 1.83% |
| 10 | SWITZERLAND CONFEDERATION 0.5% 05/27/2030 REGS | — | 100,000,000 | $129.56M | 1.71% |
| 11 | META PLATFORMS INC CL A | — | 185,000 | $113.20M | 1.49% |
| 12 | US TREASURY N/B | — | 95,000,000 | $94.90M | 1.25% |
| 13 | US TREASURY N/B | — | 95,000,000 | $94.72M | 1.25% |
| 14 | US TREASURY N/B | — | 95,000,000 | $94.09M | 1.24% |
| 15 | US TREASURY N/B | — | 95,000,000 | $93.49M | 1.23% |
| 16 | US TREASURY N/B | — | 95,000,000 | $85.23M | 1.12% |
| 17 | SWISS (GOVT) | — | 65,000,000 | $84.37M | 1.11% |
| 18 | BROADCOM INC | — | 200,000 | $83.49M | 1.10% |
| 19 | Swiss Confederation Government Bond | — | 60,000,000 | $76.85M | 1.01% |
| 20 | SWITZERLAND CONFEDERATION 0% 06/26/2034 REGS | — | 55,000,000 | $68.55M | 0.90% |
| 21 | US TREASURY N/B | — | 95,000,000 | $65.27M | 0.86% |
| 22 | CAMECO CORP | — | 500,000 | $61.52M | 0.81% |
| 23 | US TREASURY N/B | — | 60,000,000 | $60.05M | 0.79% |
| 24 | CHEVRON CORP | — | 300,000 | $57.99M | 0.76% |
| 25 | US TREASURY N/B | — | 55,000,000 | $55.02M | 0.73% |
| 26 | SWITZERLAND CONFEDERATION 3.25% 06/27/2027 REGS | — | 40,000,000 | $53.07M | 0.70% |
| 27 | COSTCO WHOLESALE CORP | — | 50,000 | $50.73M | 0.67% |
| 28 | U.S. Treasury Bills | B | 50,000,000 | $49.97M | 0.66% |
| 29 | U.S. Treasury Bills | — | 50,000,000 | $49.88M | 0.66% |
| 30 | U.S. Treasury Bills | — | 50,000,000 | $49.62M | 0.65% |
| 31 | APPLOVIN CORP | — | 110,000 | $49.10M | 0.65% |
| 32 | EXXON MOBIL CORP | — | 300,000 | $46.30M | 0.61% |
| 33 | PARKER HANNIFIN CORP | — | 50,000 | $45.47M | 0.60% |
| 34 | RIO TINTO PLC SPON ADR | RIO US | 450,000 | $45.22M | 0.60% |
| 35 | Pernod Ricard International Finance LLC | — | 45,000,000 | $42.34M | 0.56% |
| 36 | ARM HOLDINGS LTD | — | 200,000 | $42.06M | 0.55% |
| 37 | LOCKHEED MARTIN CORP | — | 75,000 | $38.85M | 0.51% |
| 38 | MORGAN STANLEY | — | 200,000 | $38.12M | 0.50% |
| 39 | CONOCOPHILLIPS | — | 300,000 | $37.73M | 0.50% |
| 40 | AMERICAN TOWER CORP | — | 200,000 | $36.54M | 0.48% |
| 41 | UNION PAC CORP | — | 40,000,000 | $36.33M | 0.48% |
| 42 | BHP Group Ltd. SPONSORED ADS | BHP US | 450,000 | $35.68M | 0.47% |
| 43 | LENNAR CORP | — | 35,000,000 | $35.16M | 0.46% |
| 44 | FIFTH THIRD BANK | — | 35,000,000 | $34.72M | 0.46% |
| 45 | FLORIDA POWER & | — | 32,500,000 | $33.29M | 0.44% |
| 46 | KINDER MORGAN | — | 32,500,000 | $33.03M | 0.44% |
| 47 | AFFIRM HOLDINGS INC | — | 500,000 | $32.14M | 0.42% |
| 48 | PROLOGIS INC REIT | — | 225,000 | $31.95M | 0.42% |
| 49 | VULCAN MATERIALS | — | 32,500,000 | $31.21M | 0.41% |
| 50 | DEVON ENERGY CORP | — | 600,000 | $30.82M | 0.41% |
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Machine-readable: JSON · Markdown. Programmatic access via the agent surface.