Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
37
Top-10 weight
56.57%
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.
20
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.
252.8
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | WEYERHAEUSER CO | — | 949,754 | $23.20M | 8.78% |
| 2 | UPM-KYMMENE OYJ | — | 543,268 | $17.00M | 6.44% |
| 3 | KLABIN SA - UNIT | — | 3,808,973 | $14.35M | 5.43% |
| 4 | WEST FRASER TIMB | — | 212,862 | $13.90M | 5.26% |
| 5 | SVENSKA CELLUSOA AB B SHARES | SCAB | 1,192,917 | $13.83M | 5.24% |
| 6 | Suzano SA | — | 1,377,033 | $13.80M | 5.22% |
| 7 | NINE DRAGONS PAP | — | 15,754,000 | $13.35M | 5.06% |
| 8 | SYLVAMO CORP | — | 312,404 | $13.20M | 5.00% |
| 9 | SMURFIT WESTROCK | — | 327,196 | $13.04M | 4.94% |
| 10 | OJI HOLDINGS COR | — | 2,350,000 | $12.71M | 4.81% |
| 11 | STORA ENSO OYJ-R | — | 1,046,141 | $12.28M | 4.65% |
| 12 | RAYONIER INC REIT | — | 592,928 | $12.23M | 4.63% |
| 13 | MONDI PLC COMMON STOCK | MNP | 1,064,314 | $12.03M | 4.56% |
| 14 | INTL PAPER CO | — | 322,771 | $11.52M | 4.36% |
| 15 | SUMITOMO FOREST | — | 1,111,900 | $10.12M | 3.83% |
| 16 | SHANDONG SUN -A | — | 4,269,975 | $9.26M | 3.50% |
| 17 | HOLMEN AB-B SHS | — | 257,602 | $9.24M | 3.50% |
| 18 | SCG PACKAGING PCL (NVDR) | SCGP-R | 14,066,900 | $8.86M | 3.35% |
| 19 | NIPPON PAPER IND | — | 768,900 | $6.26M | 2.37% |
| 20 | CMPC | — | 4,337,296 | $5.90M | 2.23% |
| 21 | BILLERUD AB | — | 620,843 | $4.81M | 1.82% |
| 22 | SAPPI LTD | — | 4,070,362 | $4.04M | 1.53% |
| 23 | DEXCO SA | — | 3,889,588 | $3.54M | 1.34% |
| 24 | CLEARWATER PAPER CORP | — | 198,136 | $2.85M | 1.08% |
| 25 | BlackRock Cash Funds: Treasury, SL Agency Shares | — | 569,486 | $569.49K | 0.22% |
| 26 | JAPANESE YEN | — | 21,133,202 | $133.16K | 0.05% |
| 27 | BlackRock Cash Funds: Institutional, SL Agency Shares | BISXX | 79,197 | $79.21K | 0.03% |
| 28 | FX Spot Contract: EUR/USD SETTLE 2026-01-05 | — | 52,965 | $61.22K | 0.02% |
| 29 | GREAT BRITISH POUND | — | 34,267 | $45.36K | 0.02% |
| 30 | FX Forward Contract: CLP/USD SETTLE 2026-01-22 | — | 29,103,764 | $31.42K | 0.01% |
| 31 | SWEDISH KRONE | — | 156,400 | $16.52K | 0.01% |
| 32 | HONG KONG DOLLAR | — | 88,805 | $11.33K | 0.00% |
| 33 | CHINESE RENMINBI | — | 47,061 | $6.83K | 0.00% |
| 34 | FX Forward Contract: BRL/USD SETTLE 2026-03-18 | — | 34,053 | $6.57K | 0.00% |
| 35 | SOUTH AFRICAN RAND | — | 110,493 | $6.53K | 0.00% |
| 36 | FX Forward Contract: CAD/USD SETTLE 2026-03-18 | — | 7,334 | $5.27K | 0.00% |
| 37 | NEW TAIWAN DOLLAR | — | 132,515 | $4.14K | 0.00% |
| 38 | E MINI RUSS 1000 VJUN26 | — | 20 | -$2.74K | -0.00% |
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.