Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.37%
adds when stocks drop
when a holding falls −10%+
Middle response
-23.79%
baseline attrition
Rally response
-23.64%
trims into rallies
when a holding rises +10%+
Top positions · 21
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RGLDRoyal Gold, Inc. | $31M | 21.2% | — | 0.5 yr |
| — | $21M | 14.3% | — | 0.5 yr |
| IAGIAMGOLD Corporation | $16M | 11.1% | — | 0.5 yr |
| SSRMSSR Mining Inc. | $13M | 9.0% | — | 0.3 yr |
| CGAUCenterra Gold Inc. | $10M | 6.7% | — | 0.5 yr |
| WPMWheaton Precious Metals | $8M | 5.4% | — | 0.5 yr |
| HCCWarrior Met Coal, Inc. | $7M | 4.7% | — | 0.5 yr |
| PPTAPerpetua Resources Corp. | $6M | 4.5% | — | 0.5 yr |
| OROR Royalties Inc. | $6M | 4.1% | — | 0.5 yr |
| AEMAgnico Eagle Mines Limit | $6M | 3.9% | — | 0.5 yr |
| NXENexGen Energy Ltd. | $5M | 3.6% | — | 0.5 yr |
| GROYGold Royalty Corp. | $5M | 3.3% | — | 0.3 yr |
| NIKLSprott Nickel Miners ETF | $3M | 1.9% | — | 0.3 yr |
| NEXMNexMetals Mining Corp. | $2M | 1.4% | — | 0.5 yr |
| DNNDenison Mines Corp. | $2M | 1.2% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Gold62.8%$91M
Unknown16.6%$24M
Other Precious Metals9.2%$13M
Uranium4.8%$7M
Coal4.7%$7M
Asset Management1.9%$3M
Country
US42.6%
CA40.8%
Unknown16.6%
Top 5: 62.3% · Top 10: 84.9% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 10
| SSRM SSR Mining Inc.new | +$13M |
| GROY Gold Royalty Corp.new | +$5M |
| NEM Newmont Corporationnew | +$1M |
| CDE Coeur Mining, Inc.new | +$1M |
| NEXM NexMetals Mining Corp. | +$2M |
| — | +$0M |
| NIKL Sprott Nickel Miners ETFnew | +$0M |
| — new | +$0M |
| — new | +$0M |
| — new | +$0M |
Top sells this quarter · 15
| EGO Eldorado Gold Corporationexit | −$14M |
| B Barrick Mining Corporationexit | −$11M |
| IAG IAMGOLD Corporation | −$7M |
| RGLD Royal Gold, Inc. | −$7M |
| SLS.TO Solaris Resources Inc.exit | −$6M |
| NXE NexGen Energy Ltd. | −$5M |
| DNN Denison Mines Corp. | −$4M |
| MTA Metalla Royalty & Streaming Ltexit | −$3M |
| HCC Warrior Met Coal, Inc. | −$2M |
| OR OR Royalties Inc. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $145M | 21 | +10.85% | -4.37% | +15.22% | -0.06B |
| 2025-12-31 | $183M | 19 | — | — | — | — |