13F holdings as of 2025-09-30 · vs 2025-06-30 · long US-listed positions only
| # | Holding | Shares | Value | % of 13F | QoQ Δ | |
|---|---|---|---|---|---|---|
| 1 | SIISPROTT INC | 550K | $45.8M | 27.7% | +$7.8M | |
| 2 | JOEST JOE CO | 660K | $32.7M | 19.8% | +$1.2M | |
| 3 | XP INC | 1.0M | $18.8M | 11.4% | -$1.4M | |
| 4 | MPCMARATHON PETE CORP | NEW | 70K | $13.5M | 8.2% | new |
| 5 | MAREX GROUP PLC | NEW | 400K | $13.4M | 8.2% | new |
| 6 | VLOVALERO ENERGY CORP | NEW | 65K | $11.1M | 6.7% | new |
| 7 | RENATUS TACTICAL ACQUIS | ADD | 920K | $10.0M | 6.1% | +$9.5M |
| 8 | PBFPBF ENERGY INC | NEW | 250K | $7.5M | 4.6% | new |
| 9 | DOLE PLC | NEW | 500K | $6.7M | 4.1% | new |
| 10 | OPCHOPTION CARE HEALTH INC | NEW | 125K | $3.5M | 2.1% | new |
| 11 | VALARIS LTD | TRIM | 478K | $1.3M | 0.8% | -$1.4M |
| 12 | SNWVSANUWAVE HEALTH INC | NEW | 17K | $647K | 0.4% | new |
Source: SEC Form 13F. Values are as-of 2025-09-30 (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).