Extract Advisors
CALABASAS, CAfiles as Extract Advisors LLC
$145m in 22 US stocks at the end of 30 June 2026. The top 10 are 82.4% of the money. It changed about 24.6% of the portfolio this quarter.
Value
$145m
Stocks
22
Top 10 share
82.4%
Turnover
24.6%
What changed this quarter
New
Bought for the first time this quarter.
- Metalla Royalty & StreamingMTA4.9% of the fund
- Hudbay MineralsHBM4.2% of the fund
- Fortuna MiningFSM3.4% of the fund
- Uranium EnergyUEC3.1% of the fund
- Vizsla SilverVZLA1.1% of the fund
- AlcoaAA1.0% of the fund
- Fury Gold MinesFURY0.4% of the fund
Added
Bought more of a stock they already held.
- Royal GoldRGLD19.6% of the fund+18%
- Agnico Eagle MinesAEM8.0% of the fund+169%
- OR RoyaltiesOR6.4% of the fund+90%
- Wheaton Precious MetalsWPM5.0% of the fund+6%
- Lifezone Metals LimitedLZM-WS0.3% of the fund+18%
Cut
Sold some of their stake.
- Elemental RoyaltyELE11.3% of the fund-15%
- SSR MiningSSRM7.6% of the fund-12%
- Warrior MET CoalHCC3.0% of the fund-27%
- NexGen EnergyNXE2.6% of the fund-12%
- Anfield EnergyAEC<0.1% of the fund-84%
Sold out
Sold their entire stake.
- Perpetua ResourcesPPTA-100%
- Gold RoyaltyGROY-100%
- Sprott FDS TRNIKL-100%
- AngloGold AshantiAU-100%
- NewmontNEM-100%
- Coeur MiningCDE-100%
Holdings
- Elemental RoyaltyELE
- Share
- 11.3%
- Value
- $16m
- Shares
- 934,458
-15%
- IamgoldIAG
- Share
- 9.4%
- Value
- $14m
- Shares
- 860,162
Held
- Agnico Eagle MinesAEM
- Share
- 8.0%
- Value
- $12m
- Shares
- 74,827
+169%
- OR RoyaltiesOR
- Share
- 6.4%
- Value
- $9m
- Shares
- 295,316
+90%
- Centerra GoldCGAU
- Share
- 6.0%
- Value
- $9m
- Shares
- 545,600
Held
- Wheaton Precious MetalsWPM
- Share
- 5.0%
- Value
- $7m
- Shares
- 63,990
+6%
- Metalla Royalty & StreamingMTA
- Share
- 4.9%
- Value
- $7m
- Shares
- 928,961
New
- Hudbay MineralsHBM
- Share
- 4.2%
- Value
- $6m
- Shares
- 260,000
New
- Fortuna MiningFSM
- Share
- 3.4%
- Value
- $5m
- Shares
- 575,000
New
- NexGen EnergyNXE
- Share
- 2.6%
- Value
- $4m
- Shares
- 397,612
-12%
- Vizsla SilverVZLA
- Share
- 1.1%
- Value
- $2m
- Shares
- 473,360
New
- Denison MinesDNN
- Share
- 1.1%
- Value
- $2m
- Shares
- 500,000
Held
- Fury Gold MinesFURY
- Share
- 0.4%
- Value
- $517,590
- Shares
- 958,500
New
- Lifezone Metals LimitedLZM-WS
- Share
- 0.3%
- Value
- $453,358
- Shares
- 1,105,751
+18%
- Anfield EnergyAEC
- Share
- <0.1%
- Value
- $119,865
- Shares
- 27,429
-84%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Royal GoldRGLD | 19.6% | $28m | 142,332 | +18% |
| Elemental RoyaltyELE | 11.3% | $16m | 934,458 | -15% |
| IamgoldIAG | 9.4% | $14m | 860,162 | Held |
| Agnico Eagle MinesAEM | 8.0% | $12m | 74,827 | +169% |
| SSR MiningSSRM | 7.6% | $11m | 389,776 | -12% |
| OR RoyaltiesOR | 6.4% | $9m | 295,316 | +90% |
| Centerra GoldCGAU | 6.0% | $9m | 545,600 | Held |
| Wheaton Precious MetalsWPM | 5.0% | $7m | 63,990 | +6% |
| Metalla Royalty & StreamingMTA | 4.9% | $7m | 928,961 | New |
| Hudbay MineralsHBM | 4.2% | $6m | 260,000 | New |
| Fortuna MiningFSM | 3.4% | $5m | 575,000 | New |
| Uranium EnergyUEC | 3.1% | $5m | 422,157 | New |
| Warrior MET CoalHCC | 3.0% | $4m | 52,944 | -27% |
| NexGen EnergyNXE | 2.6% | $4m | 397,612 | -12% |
| NexMetals MiningNEXM | 1.3% | $2m | 826,606 | Held |
| Vizsla SilverVZLA | 1.1% | $2m | 473,360 | New |
| Denison MinesDNN | 1.1% | $2m | 500,000 | Held |
| AlcoaAA | 1.0% | $2m | 29,000 | New |
| Lifezone MetalsLZM | 0.4% | $530,606 | 136,754 | Held |
| Fury Gold MinesFURY | 0.4% | $517,590 | 958,500 | New |
| Lifezone Metals LimitedLZM-WS | 0.3% | $453,358 | 1,105,751 | +18% |
| Anfield EnergyAEC | <0.1% | $119,865 | 27,429 | -84% |
Options (9)
- State STR Spdr S&P 500 ETF TSPY
- Type
- Put
- Value
- $151m
- Contracts
- 202,500
- B2goldBTG
- Type
- Put
- Value
- $22m
- Contracts
- 6,003,000
- Vizsla SilverVZLA
- Type
- Call
- Value
- $10m
- Contracts
- 3,125,000
- Coeur MiningCDE
- Type
- Call
- Value
- $10m
- Contracts
- 620,000
- Americas Gold & SilverUSAS
- Type
- Call
- Value
- $9m
- Contracts
- 2,000,000
- Almonty IndustriesALM
- Type
- Put
- Value
- $4m
- Contracts
- 250,000
- Hycroft Mining HoldingHYMC
- Type
- Put
- Value
- $2m
- Contracts
- 100,000
- New Pacific MetalsNEWP
- Type
- Put
- Value
- $2m
- Contracts
- 500,000
- Avino Silver & Gold MinesASM
- Type
- Put
- Value
- $951,000
- Contracts
- 150,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| State STR Spdr S&P 500 ETF TSPY | Put | $151m | 202,500 |
| B2goldBTG | Put | $22m | 6,003,000 |
| Vizsla SilverVZLA | Call | $10m | 3,125,000 |
| Coeur MiningCDE | Call | $10m | 620,000 |
| Americas Gold & SilverUSAS | Call | $9m | 2,000,000 |
| Almonty IndustriesALM | Put | $4m | 250,000 |
| Hycroft Mining HoldingHYMC | Put | $2m | 100,000 |
| New Pacific MetalsNEWP | Put | $2m | 500,000 |
| Avino Silver & Gold MinesASM | Put | $951,000 | 150,000 |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is down 20.9% since 31 December 2025.
Where the money is
Materials89.1%
Financial services7.6%
Energy3.0%
Other0.3%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.