Disclosed positions
| AMERICAN AIRLINE | AAL | COM | $108,441,178 | 6,001,172 | SH | None |
| UNITED AIRLINES | UAL | COM | $106,170,657 | 780,724 | SH | None |
| SOUTHWEST AIR | LUV | COM | $102,101,455 | 1,985,637 | SH | None |
| DELTA AIR LI | DAL | COM NEW | $100,685,718 | 1,075,013 | SH | None |
| ALLEGIANT TRAVEL | ALGT | COM | $40,836,012 | 347,245 | SH | None |
| FRONTIER GROUP H | ULCC | COM | $38,874,921 | 4,914,655 | SH | None |
| JETBLUE AIRWAYS | JBLU | COM | $34,358,404 | 5,996,231 | SH | None |
| ALASKA AIR GROUP | ALK | COM | $33,393,019 | 639,713 | SH | None |
| SKYWEST INC | SKYW | COM | $33,085,532 | 333,087 | SH | None |
| AYA GOLD & SILVE | AYA | COM | $21,261,962 | 1,125,000 | SH | None |
| SABRE CORP | SABR | COM | $20,661,621 | 9,885,943 | SH | None |
| TRIPADVISOR INC | TRIP | COM | $19,111,384 | 1,393,974 | SH | None |
| EXPEDIA GROUP IN | EXPE | COM NEW | $18,919,767 | 73,940 | SH | None |
| BOOKING HOLDINGS | BKNG | COM | $18,099,559 | 101,546 | SH | None |
| GENERAL DYNAMICS | GD | COM | $16,399,541 | 46,295 | SH | None |
| FRANCO-NEVADA CO | FNV | COM | $16,369,210 | 78,532 | SH | None |
| TEXTRON INC | TXT | COM | $16,251,529 | 177,167 | SH | None |
| BOEING CO/THE | BA | COM | $16,215,118 | 74,907 | SH | None |
| OR ROYALTIES INC | OR | COM SHS | $15,758,793 | 498,223 | SH | None |
| WHEATON PRECIOUS | WPM | COM | $15,660,328 | 139,426 | SH | None |
| IAMGOLD CORP | IAG | COM | $13,915,218 | 878,486 | SH | None |
| AMERICAS GOLD AN | USAS | COM NEW | $12,393,576 | 2,625,000 | SH | None |
| LATAM AIRLINES G | LTM | SPONSORED ADR | $9,393,007 | 161,198 | SH | None |
| RYANAIR HLDG-ADR | RYAAY | SPONSORED ADR | $9,049,007 | 139,753 | SH | None |
| ENDEAVOUR SILVER | EXK | COM | $8,642,362 | 1,043,200 | SH | None |
| VOX ROYALTY CORP | VOXR | COM | $7,861,260 | 1,662,000 | SH | None |
| COEUR MNG INC | CDE | COM NEW | $7,169,425 | 439,303 | SH | None |
| TRIP.COM GRO-ADR | TCOM | ADS | $6,982,757 | 175,270 | SH | None |
| HARMONY GOLD-ADR | HMY | SPONSORED ADR | $6,519,721 | 428,647 | SH | None |
| FORTUNA MINING C | FSM | COM NEW | $6,283,344 | 743,591 | SH | None |
| BARRICK MNG CORP | B | COM SHS | $6,244,100 | 170,000 | SH | None |
| ARIS MINING CORP | ARIS | COM | $5,952,716 | 400,000 | SH | None |
| MAKEMYTRIP LTD | MMYT | SHS | $5,295,907 | 99,379 | SH | None |
| CENTERRA GOLD IN | CGAU | COM | $4,747,397 | 300,000 | SH | None |
| GRUPO AEROPO-ADR | OMAB | SPON ADR | $4,733,608 | 41,857 | SH | None |
| EMBRAER SA-ADR | EMBJ | SPONSORED ADS | $4,720,052 | 73,982 | SH | None |
| AGNICO EAGLE MINES LTD | AEM | COM | $4,653,900 | 30,000 | SH | None |
| NEWMONT CORP | NEM | COM | $4,645,623 | 49,739 | SH | None |
| COPA HOLDIN-CL A | CPA | CL A | $4,641,120 | 29,833 | SH | None |
| PAN AMER SILVER | PAAS | COM | $4,613,370 | 103,000 | SH | None |
| GRUPO AEROPO-ADR | ASR | SPON ADR SER B | $4,485,181 | 14,624 | SH | None |
| METALLA RTY & STREAMING LTD | MTA | COM NEW | $4,250,185 | 558,500 | SH | None |
| VIZSLA SILVER CO | VZLA | COM NEW | $3,442,865 | 1,050,000 | SH | None |
| TRIPLE FLAG | TFPM | COM | $3,356,640 | 112,000 | SH | None |
| PAN AMERN SILVER CORP | PAAS | COM | $3,294,528 | 73,555 | SH | None |
| AVINO SILVER | ASM | COM | $3,226,077 | 510,000 | SH | None |
| AURA MINERALS INC | AUGO | SHS NEW | $3,147,500 | 50,000 | SH | None |
| SSR MINING IN | SSRM | COM | $3,110,800 | 110,000 | SH | None |
| ALAMOS GOLD INC NEW | AGI | COM CL A | $3,034,000 | 100,000 | SH | None |
| FERRARI N V | RACE | COM | $2,950,398 | 7,925 | SH | None |
No matching rows. Clear the filter to see all records.
Largest 50 positions by reported value; the filing may contain more positions.
How amendments affect these holdings
This view uses 1 effective filing version(s). A restatement replaces the previous book; a new-holdings amendment adds positions. 2 positions lack a resolved ticker and 0 positions are put or call entries.
A 13F is a delayed quarterly snapshot of disclosed holdings. It is not a complete trade ledger and does not reveal every position in a manager's portfolio. Option values refer to the reported underlying position rather than a traded option premium.
Quarter end and public filing date
Use the filing's public availability date when constructing a historical observation. The quarter-end report period is earlier and cannot be substituted for when the public learned the holdings.