Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q4 2025 ▲▼ | Q1 2026 ▲▼ | Change ▲▼ | Q4 2025 ▲▼ | Q1 2026 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| TEXAS PACIFIC LAND CORP(TPL) | 620,000 | 620,000 | 0 | 178,076 | 294,227 | 9.85% | +116,151 |
| FREEPORT-MCMORAN INC(FCX) | 2,650,000 | 2,650,000 | 0 | 134,594 | 155,767 | 5.21% | +21,174 |
| LOCKHEED MARTIN CORP(LMT) | 90,000 | 105,000 | +15,000 | 43,530 | 63,461 | 2.12% | +19,931 |
| ARM HOLDINGS PLC | 275,000 | 325,000 | +50,000 | 30,060 | 49,166 | 1.65% | +19,106 |
| CHEVRON CORP(CVX) | 275,000 | 275,000 | 0 | 41,913 | 56,898 | 1.90% | +14,985 |
| EXXON MOBIL CORP | 275,000 | 275,000 | 0 | 33,094 | 46,657 | 1.56% | +13,563 |
| OVINTIV INC(OVV) | 600,000 | 600,000 | 0 | 23,514 | 35,616 | 1.19% | +12,102 |
| CONOCOPHILLIPS(COP) | 300,000 | 300,000 | 0 | 28,083 | 39,600 | 1.33% | +11,517 |
| OCCIDENTAL PETE CORP(OXY) | 450,000 | 450,000 | 0 | 18,504 | 29,250 | 0.98% | +10,746 |
| COSTCO WHSL CORP NEW(COST) | 72,000 | 73,000 | +1,000 | 62,088 | 72,739 | 2.43% | +10,651 |
| APA CORPORATION(APA) | 550,000 | 550,000 | 0 | 13,453 | 23,342 | 0.78% | +9,889 |
| IPG PHOTONICS CORP(IPGP) | 225,000 | 225,000 | 0 | 16,110 | 25,783 | 0.86% | +9,673 |
| CAMECO CORP(CCJ) | 500,000 | 500,000 | 0 | 45,745 | 54,305 | 1.82% | +8,560 |
| CANADIAN NAT RES LTD(CNQ) | 550,000 | 550,000 | 0 | 18,618 | 26,802 | 0.90% | +8,184 |
| ALBEMARLE CORP(ALB) | 200,000 | 200,000 | 0 | 28,288 | 35,906 | 1.20% | +7,618 |
| DEVON ENERGY CORPORATION(DVN) | 550,000 | 550,000 | 0 | 20,147 | 27,676 | 0.93% | +7,530 |
| HF SINCLAIR CORPORATION(DINO) | 425,000 | 425,000 | 0 | 19,584 | 26,516 | 0.89% | +6,932 |
| META PLATFORMS INC(META) | 190,000 | 230,000 | +40,000 | 125,417 | 131,590 | 4.40% | +6,173 |
| FEDEX CORP(FDX) | 85,000 | 85,000 | 0 | 24,553 | 30,275 | 1.01% | +5,722 |
| RIO TINTO PLC(RIO) | 425,000 | 425,000 | 0 | 34,013 | 39,648 | 1.33% | +5,636 |
| MURPHY OIL CORP(MUR) | 550,000 | 550,000 | 0 | 17,188 | 22,688 | 0.76% | +5,500 |
| NUTRIEN LTD(NTR) | 400,000 | 400,000 | 0 | 24,688 | 30,184 | 1.01% | +5,496 |
| PHILLIPS 66(PSX) | 100,000 | 100,000 | 0 | 12,904 | 18,218 | 0.61% | +5,314 |
| BHP BILLITON LTD | 425,000 | 425,000 | 0 | 25,657 | 30,915 | 1.03% | +5,257 |
| TWILIO INC(TWLO) | 210,000 | 275,000 | +65,000 | 29,870 | 34,601 | 1.16% | +4,730 |
| CANADIAN PACIFIC KANSAS CITY(CP) | 285,000 | 325,000 | +40,000 | 20,985 | 25,565 | 0.86% | +4,580 |
| AIR PRODS & CHEMS INC | 100,000 | 100,000 | 0 | 24,702 | 29,049 | 0.97% | +4,347 |
| BP PLC(BP) | 350,000 | 350,000 | 0 | 12,156 | 16,450 | 0.55% | +4,295 |
| STATE STREET CORPORATION(STT) | 215,000 | 250,000 | +35,000 | 27,737 | 31,640 | 1.06% | +3,903 |
| AMGEN INC(AMGN) | 85,000 | 90,000 | +5,000 | 27,821 | 31,667 | 1.06% | +3,845 |
| DIGITAL RLTY TR INC(DLR) | 150,000 | 150,000 | 0 | 23,207 | 27,032 | 0.90% | +3,825 |
| VIPER ENERGY INC(VNOM) | 450,000 | 450,000 | 0 | 17,384 | 21,146 | 0.71% | +3,762 |
| VISA INC(V) | 85,000 | 110,000 | +25,000 | 29,810 | 33,246 | 1.11% | +3,436 |
| FLUOR CORP NEW(FLR) | 400,000 | 400,000 | 0 | 15,852 | 18,660 | 0.62% | +2,808 |
| OUTFRONT MEDIA INC(OUT) | 850,000 | 850,000 | 0 | 20,485 | 22,525 | 0.75% | +2,040 |
| REGENCY CTRS CORP(REG) | 275,000 | 275,000 | 0 | 18,983 | 20,807 | 0.70% | +1,823 |
| AUTODESK INC | 95,000 | 125,000 | +30,000 | 28,121 | 29,925 | 1.00% | +1,804 |
| WYNN RESORTS LTD(WYNN) | 150,000 | 195,000 | +45,000 | 18,050 | 19,802 | 0.66% | +1,753 |
| DISNEY WALT CO(DIS) | 150,000 | 195,000 | +45,000 | 17,066 | 18,794 | 0.63% | +1,729 |
| SOUTH32 LTD | 500,000 | 500,000 | 0 | 5,910 | 7,565 | 0.25% | +1,655 |
| ILLINOIS TOOL WKS INC(ITW) | 115,000 | 115,000 | 0 | 28,325 | 29,933 | 1.00% | +1,609 |
| VALE SA | 500,000 | 500,000 | 0 | 6,515 | 7,955 | 0.27% | +1,440 |
| RYDER SYS INC(R) | 100,000 | 100,000 | 0 | 19,139 | 20,471 | 0.69% | +1,332 |
| KIMCO RLTY CORP(KIM) | 550,000 | 550,000 | 0 | 11,149 | 12,359 | 0.41% | +1,210 |
| FEDERAL RLTY INVT TR(FRT) | 200,000 | 200,000 | 0 | 20,160 | 21,242 | 0.71% | +1,082 |
| PARKER HANNIFIN CORP(PH) | 65,000 | 65,000 | 0 | 57,132 | 58,191 | 1.95% | +1,058 |
| NUCOR CORP(NUE) | 175,000 | 175,000 | 0 | 28,544 | 29,593 | 0.99% | +1,048 |
| PROLOGIS INC(PLD) | 225,000 | 225,000 | 0 | 28,724 | 29,741 | 1.00% | +1,017 |
| MORGAN STANLEY(MS) | 250,000 | 275,000 | +25,000 | 44,383 | 45,257 | 1.51% | +874 |
| LENNAR CORP(LEN) | 225,000 | 275,000 | +50,000 | 23,130 | 23,881 | 0.80% | +751 |
| WILLIAMS SONOMA INC(WSM) | 150,000 | 150,000 | 0 | 26,789 | 27,350 | 0.92% | +561 |
| WEYERHAEUSER CO(WY) | 600,000 | 600,000 | 0 | 14,214 | 14,658 | 0.49% | +444 |
| CUBESMART(CUBE) | 450,000 | 450,000 | 0 | 16,223 | 16,493 | 0.55% | +270 |
| SIMON PPTY GROUP INC NEW(SPG) | 125,000 | 125,000 | 0 | 23,139 | 23,316 | 0.78% | +178 |
| BIRCHCLIFF ENERGY LTD | 3,500,000 | 3,500,000 | 0 | 19,044 | 19,215 | 0.64% | +172 |
| MILLROSE PPTYS INC(MRP) | 700,000 | 750,000 | +50,000 | 20,909 | 21,000 | 0.70% | +91 |
| SCHWAB CHARLES CORP(SCHW) | 330,000 | 350,000 | +20,000 | 32,970 | 32,893 | 1.10% | -77 |
| STAG INDL INC(STAG) | 500,000 | 500,000 | 0 | 18,380 | 18,030 | 0.60% | -350 |
| UBER TECHNOLOGIES INC(UBER) | 335,000 | 375,000 | +40,000 | 27,373 | 26,974 | 0.90% | -399 |
| AMERICAN TOWER CORP NEW(AMT) | 200,000 | 200,000 | 0 | 35,114 | 34,516 | 1.16% | -598 |
| UMH PPTYS INC(UMH) | 650,000 | 650,000 | 0 | 10,342 | 9,380 | 0.31% | -962 |
| UDR INC(UDR) | 350,000 | 350,000 | 0 | 12,838 | 11,823 | 0.40% | -1,015 |
| HIGHWOODS PPTYS INC(HIW) | 350,000 | 350,000 | 0 | 9,037 | 7,494 | 0.25% | -1,543 |
| OCCIDENTAL PETROLEUM CORP WARRANT(OXY) | 100,000 | 0 | -100,000 | 1,927 | 0 | — | -1,927 |
| ESSEX PPTY TR INC(ESS) | 100,000 | 100,000 | 0 | 26,168 | 24,200 | 0.81% | -1,968 |
| QUANTUM COMPUTING INC(QUBT) | 900,000 | 1,000,000 | +100,000 | 9,234 | 6,850 | 0.23% | -2,384 |
| CENTERSPACE(CSR) | 275,000 | 275,000 | 0 | 18,348 | 15,799 | 0.53% | -2,549 |
| VORNADO RLTY TR(VNO) | 350,000 | 350,000 | 0 | 11,648 | 9,097 | 0.30% | -2,551 |
| AVALONBAY CMNTYS INC | 150,000 | 150,000 | 0 | 27,197 | 24,503 | 0.82% | -2,694 |
| AGILENT TECHNOLOGIES INC(A) | 150,000 | 150,000 | 0 | 20,411 | 17,097 | 0.57% | -3,313 |
| BXP INC (formerly Boston Properties, Inc.)(BXP) | 250,000 | 250,000 | 0 | 16,870 | 12,975 | 0.43% | -3,895 |
| LULULEMON ATHLETICA INC(LULU) | 75,000 | 75,000 | 0 | 15,586 | 11,483 | 0.38% | -4,103 |
| ALEXANDER & BALDWIN INC | 200,000 | 0 | -200,000 | 4,128 | 0 | — | -4,128 |
| BROADCOM INC(AVGO) | 252,000 | 260,000 | +8,000 | 87,217 | 80,473 | 2.69% | -6,745 |
| NVIDIA CORP(NVDA) | 860,000 | 875,000 | +15,000 | 160,390 | 152,600 | 5.11% | -7,790 |
| AFFIRM HLDGS INC(AFRM) | 525,000 | 675,000 | +150,000 | 39,076 | 30,929 | 1.04% | -8,147 |
| PALANTIR TECHNOLOGIES INC(PLTR) | 1,175,000 | 1,360,000 | +185,000 | 208,856 | 198,941 | 6.66% | -9,915 |
| APPLOVIN CORP(APP) | 120,000 | 175,000 | +55,000 | 80,858 | 69,650 | 2.33% | -11,208 |
| STRUCTURE THERAPEUTICS INC | 700,000 | 750,000 | +50,000 | 48,685 | 36,150 | 1.21% | -12,535 |