Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| SELECT SECTOR SPDR TR(Put) ST STR STAPL ETF | 0 | 20,000,000 | +20,000,000 | 0 | 1,553,600 | — | +1,553,600 |
| SELECT SECTOR SPDR TR(Put) ST STR INDL ETF | 0 | 7,500,000 | +7,500,000 | 0 | 1,163,400 | — | +1,163,400 |
| SELECT SECTOR SPDR TR(Put) ST STR ENERG ETF | 0 | 16,000,000 | +16,000,000 | 0 | 715,360 | — | +715,360 |
| TRIPLE FLAG PRECIOUS METAL(TFPM) | 133,815,727 | 133,815,727 | 0 | 3,915,448 | 4,445,358 | 30.47% | +529,910 |
| SOUTHWEST AIRLS CO(LUV) | 51,128,500 | 51,128,500 | 0 | 1,631,510 | 2,113,141 | 14.48% | +481,630 |
| VANECK ETF TRUST(Put) GOLD MINERS ETF | 11,500,000 | 14,000,000 | +2,500,000 | 878,600 | 1,200,780 | — | +322,180 |
| SPDR SERIES TRUST(Put) SP O&G EXPL PRO | 0 | 2,398,400 | +2,398,400 | 0 | 302,822 | — | +302,822 |
| SUNCOR ENERGY INC NEW(SU) | 52,670,800 | 52,670,800 | 0 | 2,202,166 | 2,336,477 | 16.02% | +134,311 |
| SPDR SERIES TRUST(Put) ST STR SP METAL | 0 | 900,000 | +900,000 | 0 | 93,249 | — | +93,249 |
| UNITI GROUP LLC(UNIT) | 59,012,219 | 59,012,219 | 0 | 361,155 | 413,676 | 2.84% | +52,521 |
| SEADRILL LTD(SDRL) | 3,703,746 | 4,558,758 | +855,012 | 111,890 | 157,733 | 1.08% | +45,843 |
| OR ROYALTIES INC.(OR) | 2,180,151 | 3,111,000 | +930,849 | 87,380 | 110,098 | 0.75% | +22,718 |
| SENSATA TECHNOLOGIES HLDG PL SHS | 3,250,000 | 3,250,000 | 0 | 99,288 | 108,193 | 0.74% | +8,905 |
| HDFC BANK LTD(HDB) | 0 | 216,756 | +216,756 | 0 | 7,920 | 0.05% | +7,920 |
| GCI LIBERTY INC(GLIBA) | 476,895 | 659,928 | +183,033 | 17,774 | 24,556 | 0.17% | +6,782 |
| BILL HOLDINGS INC | 3,000,000 | 3,000,000 | 0 | 158,910 | 163,620 | 1.12% | +4,710 |
| PEPSICO INC(PEP) | 1,275,000 | 1,275,000 | 0 | 179,061 | 182,988 | 1.25% | +3,927 |
| FS KKR CAP CORP(FSK) | 0 | 264,850 | +264,850 | 0 | 3,922 | 0.03% | +3,922 |
| WAYFAIR INC(W) | 0 | 0 | 0 | 31,090 | 34,327 | 0.24% | +3,237 |
| ISHARES TR | 3,800,000 | 3,800,000 | 0 | 308,522 | 306,394 | 2.10% | -2,128 |
| EQUINIX INC(EQIX) | 150,000 | 150,000 | 0 | 117,486 | 114,924 | 0.79% | -2,562 |
| ISHARES TR(Call) | 1,000,000 | 1,000,000 | 0 | 115,010 | 105,690 | — | -9,320 |
| CROWN CASTLE INC(CCI) | 1,225,000 | 1,225,000 | 0 | 118,200 | 108,866 | 0.75% | -9,334 |
| HEWLETT PACKARD ENTERPRISE C(HPE) | 18,630,978 | 18,630,978 | 0 | 457,577 | 447,516 | 3.07% | -10,061 |
| STRATEGY INC(MSTR) | 0 | 0 | 0 | 35,884 | 22,709 | 0.16% | -13,175 |
| OXFORD LANE CAP CORP(OXLC) | 1,019,239 | 0 | -1,019,239 | 17,256 | 0 | — | -17,256 |
| DIGITAL RLTY TR INC(DLR)(Put) | 1,000,000 | 1,000,000 | 0 | 172,880 | 154,710 | — | -18,170 |
| ETSY INC(ETSY) | 5,000,000 | 5,000,000 | 0 | 331,950 | 277,200 | 1.90% | -54,750 |
| WHEATON PRECIOUS METALS CORP(WPM)(Put) | 650,000 | 0 | -650,000 | 72,696 | 0 | — | -72,696 |
| SPDR SERIES TRUST(Put) ST STR SP METAL | 1,400,000 | 0 | -1,400,000 | 130,466 | 0 | — | -130,466 |
| PHILLIPS 66(PSX) | 19,251,000 | 19,251,000 | 0 | 2,618,521 | 2,484,149 | 17.03% | -134,372 |
| INVESCO QQQ TR(Call) | 1,250,000 | 1,000,000 | -250,000 | 750,463 | 614,310 | — | -136,152 |
| PINTEREST INC(PINS) | 28,000,000 | 28,000,000 | 0 | 900,760 | 724,920 | 4.97% | -175,840 |
| ISHARES TR(Put) | 2,000,000 | 300,000 | -1,700,000 | 230,020 | 31,707 | — | -198,313 |
| NVIDIA CORPORATION(NVDA)(Put) | 4,330,000 | 3,000,000 | -1,330,000 | 807,891 | 559,500 | — | -248,391 |
| SELECT SECTOR SPDR TR(Put) ST STR CARE ETF | 2,000,000 | 0 | -2,000,000 | 278,340 | 0 | — | -278,340 |
| INVESCO QQQ TR(Put) | 2,000,000 | 1,500,000 | -500,000 | 1,200,740 | 921,465 | — | -279,275 |
| SPDR SERIES TRUST(Put) SP O&G EXPL PRO | 2,400,000 | 0 | -2,400,000 | 317,280 | 0 | — | -317,280 |
| ISHARES TR(Put) | 5,000,000 | 2,800,000 | -2,200,000 | 1,017,950 | 588,952 | — | -428,998 |
| SELECT SECTOR SPDR TR(Put) ST STR ENERG ETF | 8,000,000 | 0 | -8,000,000 | 714,720 | 0 | — | -714,720 |
| SELECT SECTOR SPDR TR(Put) ST STR INDL ETF | 7,500,000 | 0 | -7,500,000 | 1,156,725 | 0 | — | -1,156,725 |
| SELECT SECTOR SPDR TR(Put) ST STR STAPL ETF | 15,000,000 | 0 | -15,000,000 | 1,175,550 | 0 | — | -1,175,550 |