Portfolio

As of April 3, 2025 – updated with new detail throughout

Top Holdings

1. Purpose Ether Staking ETF
2. Aecon
3. Birchtech
4. Elemental Altus
5. Comstock Inc.

Recent Purchases

Star Royalties

3rd rate royalty co > 3rd rate mining co

I took a punt on some $STRR.V in the low 20s last week, although hard to build up much of a position given the small trading volume.

Think of it as a safer way to bet on the mine building prowess of $MAI.V. https://t.co/vRX9BgYQKg

— Sultan Ameerali (@SultanAmeerali) March 19, 2025

Starter positions in RMCO, Base Carbon and Kingfisher

Re-entered Metals X after Bisle shutdown

Sailfish Royalty

Gold is almost $3K.
The Solidus feasibility study makes it easier to determine the value of the $FISH.V royalty on Spring Valley.
Dividends and share buybacks until the mine is operational.
Aside from the Kinross this is still the best risk/reward in the gold sector. https://t.co/s7wcEesUmQ

— Sultan Ameerali (@SultanAmeerali) February 19, 2025

BCE

Special Situations Arbitrage

• Mergers
• Liquidations
• Spin offs and reorganizations

Comments

Large chunks of my sheet fall into this basket now. Given where the world is right now, I like the idea of returns not correlated to the market. Birchtech and Comstock both fall into this category for different reasons. This is also where my Kinross CVRs live.

Portfolio weighting: +60%

General Equity Portfolio

• Baskets of stocks that cover a broad investment theme
• Individual equity positions

Comments

This is where stocks like Aecon and Centrus live. I’ve also shifted my Ethereum proxies over here considering the length of the holding period.

Portfolio weighting: 40%

Cash and cash equivalents

Comments

I’m running on fumes after recent purchases.

Portfolio weighting: 2%

Real Estate

Comments

Vancouver property has been sold.

Portfolio weighting: 0%