Location: San Antonio, TX
CIK: 0000754811 · Show all filings
Period: Q1 2026 (← Previous) (Next →)
Filing Date: May 1, 2026
Total Value: $858M (100.0% shares, 0.0% debt)
| Ticker | Issuer | Shares | Value | % | Share Price | Est. Cost/Share | Unrealized @ Report Date | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|---|
| DAL | DELTA AIR LI | 1,171,746 | $77.9M | 9.1% | $66.48 | $34.35 | +93.5% | COM NEW | 247361702 |
| UAL | UNITED AIRLINES | 784,599 | $72.24M | 8.4% | $92.07 | $42.34 | +117.5% | COM | 910047109 |
| AAL | AMERICAN AIRLINE | 6,435,049 | $69.11M | 8.1% | $10.74 | $14.60 | -26.4% | COM | 02376R102 |
| LUV | SOUTHWEST AIR | 1,668,355 | $62.68M | 7.3% | $37.57 | $35.24 | +6.6% | COM | 844741108 |
| JBLU | JETBLUE AIRWAYS | 5,542,536 | $24.5M | 2.9% | $4.42 | $8.11 | -45.5% | COM | 477143101 |
| ALGT | ALLEGIANT TRAVEL | 299,225 | $24.25M | 2.8% | $81.04 | $81.68 | -0.8% | COM | 01748X102 |
| ULCC | FRONTIER GROUP H | 6,781,412 | $23.94M | 2.8% | $3.53 | $4.87 | -27.5% | COM | 35909R108 |
| SKYW | SKYWEST INC | 257,593 | $23.65M | 2.8% | $91.83 | $41.31 | +122.3% | COM | 830879102 |
| ALK | ALASKA AIR GROUP | 596,572 | $21.94M | 2.6% | $36.78 | $44.21 | -16.8% | COM | 011659109 |
| FNV | FRANCO NEV CORP | 84,410 | $20.85M | 2.4% | $247.05 | $129.31 | +91.1% | COM | 351858105 |
| RGLD | ROYAL GOLD INC | 81,240 | $20.67M | 2.4% | $254.49 | $196.34 | +29.6% | COM | 780287108 |
| OR | OR ROYALTIES INC | 534,625 | $20.33M | 2.4% | $38.02 | $31.91 | +19.1% | COM SHS | 68390D106 |
| IAG | IAMGOLD CORP | 971,581 | $18.29M | 2.1% | $18.82 | $12.15 | +54.8% | COM | 450913108 |
| CDE | COEUR MINING INC | 829,850 | $15.58M | 1.8% | $18.77 | $14.77 | +27.1% | COM NEW | 192108504 |
| TRIP | TRIPADVISOR INC | 1,372,941 | $14.64M | 1.7% | $10.66 | $21.56 | -50.6% | COM | 896945201 |
| GFI | GOLD FIELDS LTD | 316,358 | $14.36M | 1.7% | $45.40 | $38.91 | +16.7% | SPONSORED ADR | 38059T106 |
| EXPE | EXPEDIA GROUP IN | 56,029 | $12.94M | 1.5% | $230.89 | $158.71 | +45.5% | COM NEW | 30212P303 |
| AU | ANGLOGOLD ASHANT | 130,445 | $12.7M | 1.5% | $97.36 | $60.78 | +60.2% | COM SHS | G0378L100 |
| BKNG | BOOKING HOLDINGS | 3,008 | $12.66M | 1.5% | $4210.32 * | $2557.66 | -93.4% | COM | 09857L108 |
| BA | BOEING CO/THE | 62,592 | $12.46M | 1.5% | $199.03 | $169.64 | +17.3% | COM | 097023105 |
| GD | GENERAL DYNAMICS | 36,097 | $12.39M | 1.4% | $343.22 | $162.35 | +111.4% | COM | 369550108 |
| TXT | TEXTRON INC | 139,954 | $12.25M | 1.4% | $87.56 | $67.05 | +30.6% | COM | 883203101 |
| AEM | AGNICO EAGLE MIN | 59,133 | $12M | 1.4% | $202.98 | $138.75 | +46.3% | COM | 008474108 |
| SABR | SABRE CORP | 7,534,906 | $10.93M | 1.3% | $1.45 | $2.88 | -49.6% | COM | 78573M104 |
| USAS | AMERICAS GOLD AN | 1,800,000 | $9.403M | 1.1% | $5.22 | $3.89 | +34.2% | COM NEW | 03062D803 |
| AGI | ALAMOS GOLD INC | 201,021 | $8.931M | 1.0% | $44.43 | $38.30 | +16.0% | COM CL A | 011532108 |
| VOXR | VOX ROYALTY CORP | 1,662,000 | $8.709M | 1.0% | $5.24 | $2.48 | +111.2% | COM | 92919F103 |
| AUGO | AURA MINERALS INC | 100,000 | $8.16M | 1.0% | $81.60 | $28.59 | +185.4% | SHS NEW | G06973112 |
| CGAU | CENTERRA GOLD IN | 438,452 | $7.802M | 0.9% | $17.80 | $12.52 | +42.1% | COM | 152006102 |
| DRD | DRDGOLD LIMITED | 245,545 | $7.212M | 0.8% | $29.37 | $15.81 | +85.8% | SPON ADR REPSTG | 26152H301 |
| SCZM | SANTACRUZ SILVER | 781,754 | $6.801M | 0.8% | $8.70 | $10.78 | -20.5% | COM NEW SHS | 80280U205 |
| LTM | LATAM AIRLINES G | 136,140 | $6.731M | 0.8% | $49.44 | $40.61 | +21.7% | SPONSORED ADR | 51817R205 |
| EMBJ | EMBRAER SA-ADR | 113,029 | $6.707M | 0.8% | $59.34 | $34.14 | +73.8% | SPONSORED ADS | 29082A107 |
| SVM | SILVERCORP METAL | 617,663 | $6.634M | 0.8% | $10.74 | $8.13 | +32.1% | COM | 82835P103 |
| ARIS | ARIS MINING CORP | 340,000 | $6.319M | 0.7% | $18.59 | $6.98 | +166.0% | COM | 04040Y109 |
| TCOM | TRIP.COM GRO-ADR | 123,343 | $6.141M | 0.7% | $49.79 | $37.51 | +32.7% | ADS | 89677Q107 |
| HMY | HARMONY GOLD-ADR | 397,947 | $6.116M | 0.7% | $15.37 | $12.95 | +18.7% | SPONSORED ADR | 413216300 |
| RYAAY | RYANAIR HLDG-ADR | 104,201 | $6.023M | 0.7% | $57.80 | $42.94 | +34.6% | SPONSORED ADR | 783513203 |
| KGC | KINROSS GOLD | 195,363 | $5.962M | 0.7% | $30.52 | $22.23 | +37.3% | COM | 496902404 |
| B | BARRICK MINING C | 142,865 | $5.827M | 0.7% | $40.79 | $33.53 | +21.7% | COM SHS | 06849F108 |
| MMYT | MAKEMYTRIP LTD | 140,706 | $5.247M | 0.6% | $37.29 | $54.66 | -31.8% | SHS | V5633W109 |
| PAAS | PAN AMERN SILVER CORP | 73,555 | $4.018M | 0.5% | $54.63 | $32.15 | +69.9% | COM | 697900108 |
| NEM | NEWMONT CORP | 36,830 | $3.987M | 0.5% | $108.25 | $115.21 | -6.0% | COM | 651639106 |
| ORLA | ORLA MINING LTD | 246,374 | $3.966M | 0.5% | $16.10 | $16.59 | -2.8% | COM | 68634K106 |
| MTA | METALLA RTY & STREAMING LTD | 578,500 | $3.835M | 0.4% | $6.63 | $5.80 | +14.4% | COM NEW | 59124U605 |
| FSM | FORTUNA MINING C | 383,650 | $3.81M | 0.4% | $9.93 | $9.00 | +10.3% | COM NEW | 349942102 |
| WPM | WHEATON PRECIOUS | 29,064 | $3.808M | 0.4% | $131.01 | $36.65 | +257.4% | COM | 962879102 |
| VZLA | VIZSLA SILVER CO | 1,050,000 | $3.483M | 0.4% | $3.32 | $1.62 | +103.3% | COM NEW | 92859G608 |
| OMAB | GRUPO AEROPO-ADR | 30,150 | $3.459M | 0.4% | $114.73 | $106.87 | +7.4% | SPON ADR | 400501102 |
| SBSW | SIBANYE STILLWATER LTD | 275,000 | $3.388M | 0.4% | $12.32 | $5.47 | +125.4% | SPONSORED ADR | 82575P107 |
| ASR | GRUPO AEROPO-ADR | 9,988 | $3.357M | 0.4% | $336.13 | $246.49 | +36.4% | SPON ADR SER B | 40051E202 |
| CPA | COPA HOLDIN-CL A | 28,507 | $3.239M | 0.4% | $113.61 | $81.41 | +39.5% | CL A | P31076105 |
| SSRM | SSR MINING IN | 110,000 | $3.234M | 0.4% | $29.40 | $26.49 | +11.0% | COM | 784730103 |
| XOM | EXXON MOBIL CORP | 17,500 | $2.969M | 0.3% | $169.66 | $117.50 | +44.4% | COM | 30231G102 |
| ELE | ELEMENTAL ROYALT | 150,000 | $2.827M | 0.3% | $18.84 | $15.55 | +21.2% | COM NEW | 28620K106 |
| EXK | ENDEAVOUR SILVER | 295,200 | $2.757M | 0.3% | $9.34 | $3.82 | +143.7% | COM | 29258Y103 |
| RACE | FERRARI N V | 7,925 | $2.682M | 0.3% | $338.45 | $414.30 | -18.3% | COM | N3167Y103 |
| TSLA | TESLA INC | 7,100 | $2.639M | 0.3% | $371.75 | $367.09 | +1.3% | COM | 88160R101 |
| RCL | ROYAL CARIBBEAN GROUP | 8,530 | $2.347M | 0.3% | $275.18 | $187.96 | +46.4% | COM | V7780T103 |
| NTR | NUTRIEN LTD | 30,000 | $2.264M | 0.3% | $75.46 | $55.13 | +36.9% | COM | 67077M108 |
| VMET | VERSAMET ROYALTI | 250,000 | $2.195M | 0.3% | $8.78 * | $10.26 | -7.3% | COM NEW | 92528V200 |
| TFPM | TRIPLE FLAG PRECIOUS METAL | 60,000 | $2.083M | 0.2% | $34.71 | $17.54 | +97.9% | COM | 89679M104 |
| MUX | MCEWEN INC | 100,000 | $2.048M | 0.2% | $20.48 | $18.60 | +9.8% | COM NEW | 58039P305 |
| TTE | TOTALENERGIES SE | 22,000 | $2.002M | 0.2% | $90.98 | $67.42 | +34.9% | ACT | F92124100 |
| AMZN | AMAZON COM INC | 9,500 | $1.979M | 0.2% | $208.27 | $220.17 | -5.4% | COM | 023135106 |
| WDS | WOODSIDE ENERGY GROUP LTD | 75,000 | $1.791M | 0.2% | $23.88 | $17.56 | +36.0% | SPONSORED ADR | 980228308 |
| LNG | CHENIERE ENERGY INC | 6,200 | $1.759M | 0.2% | $283.76 | $173.04 | +64.0% | COM NEW | 16411R208 |
| SHEL | SHELL PLC | 18,000 | $1.674M | 0.2% | $93.00 | $72.48 | +28.3% | SPON ADS | 780259305 |
| HL | HECLA MINING COMPANY | 75,000 | $1.397M | 0.2% | $18.63 | $22.48 | -17.1% | COM | 422704106 |
| CCL | CARNIVAL CORP | 52,500 | $1.359M | 0.2% | $25.88 | $19.32 | +34.0% | COMMON STOCK | 143658300 |
| HLT | HILTON WORLDWIDE HLDGS INC | 4,250 | $1.292M | 0.2% | $304.08 | $239.08 | +27.2% | COM | 43300A203 |
| SA | SEABRIDGE GOLD INC | 40,000 | $1.134M | 0.1% | $28.34 | $13.43 | +111.0% | COM | 811916105 |
| LTH | LIFE TIME GROUP HOLDINGS INC | 41,100 | $1.107M | 0.1% | $26.94 | $29.30 | -8.0% | COMMON STOCK | 53190C102 |
| UBS | UBS GROUP AG | 27,800 | $1.086M | 0.1% | $39.07 | $40.69 | -4.0% | SHS | H42097107 |
| AG | FIRST MAJESTIC SILVER CORP | 50,000 | $1.074M | 0.1% | $21.48 | $23.04 | -6.8% | COM | 32076V103 |
| ITRG | INTEGRA RES CORP | 393,000 | $1.073M | 0.1% | $2.73 | $3.18 | -14.1% | COM | 45826T509 |
| MAR | MARRIOTT INTL INC NEW | 2,900 | $949K | 0.1% | $327.07 | $285.32 | +14.6% | CL A | 571903202 |
| EL | LAUDER ESTEE COS INC | 13,000 | $933K | 0.1% | $71.77 | $95.43 | -24.8% | CL A | 518439104 |
| VIK | VIKING HOLDINGS LTD | 12,335 | $906K | 0.1% | $73.48 | $63.81 | +15.2% | ORD SHS | G93A5A101 |
| BWLP | BW LPG LTD | 49,708 | $880K | 0.1% | $17.70 | $14.77 | +17.6% | COM | Y10230103 |
| PPTA | PERPETUA RESOURCES CORP | 30,000 | $844K | 0.1% | $28.12 | $10.12 | +177.7% | COM | 714266103 |
| EXE | EXPAND ENERGY CORPORATION | 7,500 | $823K | 0.1% | $109.78 | $106.75 | +2.8% | COM | 165167735 |
| ODV | OSISKO DEVELOPME | 250,000 | $811K | 0.1% | $3.25 | $1.70 | +90.8% | COM NEW | 68828E809 |
| HAFN | HAFNIA LTD | 105,179 | $799K | 0.1% | $7.60 | $6.63 | +14.6% | SHS | Y2990R101 |
| TK | TEEKAY CORP LTD | 62,843 | $767K | 0.1% | $12.21 | $11.02 | +10.8% | SHS | G8726T105 |
| EQT | EQT CORP | 12,000 | $764K | 0.1% | $63.64 | $58.52 | +8.8% | COM | 26884L109 |
| VLO | VALERO ENERGY CORP | 3,000 | $741K | 0.1% | $247.08 | $178.15 | +38.7% | COM | 91913Y100 |
| TOL | TOLL BROTHERS INC | 5,400 | $737K | 0.1% | $136.47 | $146.84 | -7.1% | COM | 889478103 |
| DAC | DANAOS CORP | 6,418 | $723K | 0.1% | $112.64 | $101.78 | +10.7% | SHS | Y1968P121 |
| CAT | CATERPILLAR INC | 1,000 | $708K | 0.1% | $708.46 | $555.50 | +27.5% | COM | 149123101 |
| CTRA | COTERRA ENERGY INC | 20,000 | $703K | 0.1% | $35.14 | $30.05 | +16.9% | COM | 127097103 |
| GSL | GLOBAL SHIP-CL A | 18,690 | $696K | 0.1% | $37.23 | $33.20 | +12.1% | COM CL A | Y27183600 |
| LVS | LAS VEGAS SANDS CORP | 12,200 | $657K | 0.1% | $53.88 | $61.19 | -12.0% | COM | 517834107 |
| BMM | BLUE MOON METALS | 100,000 | $648K | 0.1% | $6.48 | $4.86 | +34.6% | COM | 09570Q509 |
| MAKO | MAKO MINING CORP | 100,000 | $645K | 0.1% | $6.45 | $6.99 | -8.6% | COM NEW | 56089A400 |
| ASM | AVINO SILVER & GOLD MINES LT | 100,000 | $632K | 0.1% | $6.32 | $8.00 | -21.0% | COM | 053906103 |
| CNL | COLLECTIVE MININ | 35,000 | $615K | 0.1% | $17.58 | $2.97 | +492.9% | COM | 19425C100 |
| TPR | TAPESTRY INC | 4,045 | $571K | 0.1% | $141.11 | $74.95 | +88.3% | COM | 876030107 |
| ZTO | ZTO EXPRESS -ADR | 22,332 | $562K | 0.1% | $25.17 | $21.90 | +14.9% | SPONSORED ADS A | 98980A105 |
| CCJ | CAMECO CORP | 5,000 | $543K | 0.1% | $108.61 | $64.67 | +67.9% | COM | 13321L108 |
| FDX | FEDEX CORP | 1,485 | $529K | 0.1% | $356.18 | $250.64 | +42.1% | COM | 31428X106 |
| EXPD | EXPEDITORS INTL | 3,686 | $528K | 0.1% | $143.23 | $127.73 | +12.1% | COM | 302130109 |
| UPS | UNITED PARCEL-B | 5,357 | $527K | 0.1% | $98.38 | $113.22 | -13.1% | CL B | 911312106 |
| BKR | BAKER HUGHES COMPANY | 8,500 | $519K | 0.1% | $61.05 | $41.90 | +45.7% | CL A | 05722G100 |
| BG | BUNGE GLOBAL SA | 4,000 | $509K | 0.1% | $127.20 | $91.86 | +38.5% | COM SHS | H11356104 |
| RRC | RANGE RES CORP | 10,500 | $474K | 0.1% | $45.18 | $23.37 | +93.3% | COM | 75281A109 |
| HSLV | HIGHLANDER SILVE | 280,000 | $443K | 0.1% | $1.58 * | $5.63 | +4.4% | COM | 43087N204 |
| AR | ANTERO RESOURCES CORP | 10,000 | $424K | 0.0% | $42.44 | $33.61 | +26.3% | COM | 03674X106 |
| TRMD | TORM PLC-A | 14,192 | $396K | 0.0% | $27.90 | $25.44 | +9.7% | SHS CL A | G89479102 |
| TNK | TEEKAY TANK-CL A | 5,383 | $395K | 0.0% | $73.32 | $59.37 | +23.5% | CL A | G8726X106 |
| HAL | HALLIBURTON CO | 10,000 | $390K | 0.0% | $38.99 | $26.08 | +49.5% | COM | 406216101 |
| MATX | MATSON INC | 2,343 | $384K | 0.0% | $163.94 | $107.05 | +53.1% | COM | 57686G105 |
| DHT | DHT HOLDINGS INC | 20,765 | $379K | 0.0% | $18.27 | $15.74 | +16.1% | SHS NEW | Y2065G121 |
| MWH | SOLV ENERGY INC | 12,000 | $360K | 0.0% | $30.03 | $29.63 | +1.3% | COM SHS CL A | 78475V103 |
| EFXT | ENERFLEX LTD | 17,000 | $356K | 0.0% | $20.92 | $13.30 | +57.4% | COM | 29269R105 |
| BP | BP PLC | 7,000 | $329K | 0.0% | $47.00 | $36.11 | +30.1% | SPONSORED ADR | 055622104 |
| CNR | CORE NATURAL RESOURCES INC | 3,100 | $325K | 0.0% | $104.73 | $95.17 | +10.0% | COM SHS | 218937100 |
| HYMC | HYCROFT MINING HOLDING CORP | 9,000 | $317K | 0.0% | $35.20 | $11.07 | +218.0% | CL A NEW | 44862P208 |
| IE | IVANHOE ELECTRIC | 26,499 | $313K | 0.0% | $11.82 | $10.86 | +8.8% | COM | 46578C108 |
| REAL | THE REALREAL INC | 32,000 | $291K | 0.0% | $9.08 | $12.65 | -28.2% | COM | 88339P101 |
| BTU | PEABODY ENGR CORP | 8,600 | $283K | 0.0% | $32.95 | $34.93 | -5.7% | COM | 704551100 |
| PZG | PARAMOUNT GOLD NEV CORP | 170,000 | $282K | 0.0% | $1.66 | $1.07 | +55.2% | COM | 69924M109 |
| AEP | AMERICAN ELEC PWR CO INC | 2,000 | $262K | 0.0% | $131.08 | $117.70 | +11.4% | COM | 025537101 |
| SLI | STANDARD LITHIUM LTD | 75,000 | $256K | 0.0% | $3.41 | $1.84 | +85.5% | COM | 853606101 |
| XPL | SOLITARIO RESOURCES CORP | 310,000 | $254K | 0.0% | $0.82 | $0.79 | +4.3% | COM | 8342EP107 |
| SLB | SCHLUMBERGER LTD | 4,500 | $231K | 0.0% | $51.39 | $15.47 | +232.1% | COM STK | 806857108 |
| FURY | FURY GOLD MINES | 350,000 | $214K | 0.0% | $0.61 | $0.69 | -11.4% | COM | 36117T100 |
| WTTR | SELECT WATER SOLUTIONS INC | 10,000 | $153K | 0.0% | $15.30 | $7.59 | — | CL A COM | 81617J301 |
| STZ | CONSTELLATION BRANDS INC | 1,000 | $150K | 0.0% | $150.00 | $154.20 | -2.7% | CL A | 21036P108 |
| CME | CME GROUP INC | 461 | $136K | 0.0% | $295.35 | $219.66 | +34.5% | COM | 12572Q105 |
| MGM | MGM RESORTS INTERNATIONAL | 2,500 | $92,525 | 0.0% | $37.01 | $35.59 | +4.0% | COM | 552953101 |
| EU | ENCORE ENERGY CO | 50,000 | $90,661 | 0.0% | $1.81 | $2.33 | -22.8% | COM NEW | 29259W700 |
| CHIQ | GLOBAL X FDS | 4,500 | $89,460 | 0.0% | $19.88 | $22.56 | -11.9% | MSCI CHINA CNSMR | 37950E408 |
| MLCO | MELCO RESORTS AND ENTMNT LTD | 12,000 | $68,160 | 0.0% | $5.68 | $6.05 | -6.2% | ADR | 585464100 |
| AA | ALCOA CORP | 1,000 | $66,330 | 0.0% | $66.33 | $61.35 | +8.1% | COM | 013872106 |