13F holdings as of 2025-03-31 · vs 2024-12-31 · long US-listed positions only
| # | Holding | Shares | Value | % of 13F | QoQ Δ | |
|---|---|---|---|---|---|---|
| 1 | VALARIS LTD | ADD | 1.4M | $54.0M | 24.6% | -$4.2M |
| 2 | JOEST JOE CO | ADD | 835K | $39.2M | 17.8% | +$1.9M |
| 3 | SIISPROTT INC | 550K | $24.7M | 11.2% | +$1.5M | |
| 4 | TDWTIDEWATER INC NEW | ADD | 455K | $19.2M | 8.7% | -$4.3M |
| 5 | XP INC | ADD | 1.2M | $16.5M | 7.5% | +$4.7M |
| 6 | DKNGDRAFTKINGS INC NEW | ADD | 495K | $16.4M | 7.5% | +$1.2M |
| 7 | GOLDGOLD COM INC | TRIM | 550K | $14.0M | 6.3% | -$12.1M |
| 8 | NOBLE CORP PLC | ADD | 500K | $11.9M | 5.4% | -$710K |
| 9 | INMBINMUNE BIO INC | ADD | 865K | $6.8M | 3.1% | +$3.0M |
| 10 | COURCOURSERA INC | NEW | 665K | $4.4M | 2.0% | new |
| 11 | VALARIS LTD | ADD | 860K | $4.4M | 2.0% | -$1.5M |
| 12 | LEELEE ENTERPRISES INC | TRIM | 202K | $2.1M | 1.0% | -$1.8M |
| 13 | NAKNORTHERN DYNASTY MINERALS LT | NEW | 1.7M | $2.0M | 0.9% | new |
| 14 | TEEKAY TANKERS LTD | NEW | 48K | $1.8M | 0.8% | new |
| 15 | PATRIA INVESTMENTS LIMITED | NEW | 155K | $1.7M | 0.8% | new |
| 16 | TMQTRILOGY METALS INC NEW | NEW | 420K | $651K | 0.3% | new |
| 17 | ITRGINTEGRA RES CORP | NEW | 100K | $124K | 0.1% | new |
| 18 | IEIVANHOE ELECTRIC INC | NEW | 10K | $58K | 0.0% | new |
Source: SEC Form 13F. Values are as-of 2025-03-31 (quarter-end), not live. Percentages are of reported 13F value, not the fund’s full AUM (13F excludes shorts, cash, bonds, most non-US holdings).