MAXA
Alpha Major & Streaming
$131,546
- Market value
- $131,437
- Dividends paid
- $109
- Gain / loss
- +$31,546
- Today
- -1.77%
Actively managed · equal weight
Two gold and silver books. One screen. Live weights.
Maximum Alpha is Paul Hart's desk for two self-managed funds: Alpha Major & Streaming and Alpha Junior & Developer. U.S. listed including OTC, no share-price floor, hard 1.0B fully-diluted cap, developers only at 50% of NPV or cheaper.
MAXA today
-1.77%
63 names
MAXJ today
-1.14%
56 names
Since rebalance
+31.44%
Major · June 30, 2026
Since rebalance
+42.73%
Junior
Live P&L calculator
If you had funded the books
Equal dollars into each vehicle at the June 30, 2026 rebalance. Market value, dividends received since then, and total return versus GDX and GDXJ.
+31.55%
MAXJ
Alpha Junior & Developer
$142,732
- Market value
- $142,732
- Dividends paid
- $0
- Gain / loss
- +$42,732
- Today
- -1.14%
GDX
VanEck Gold Miners
$126,705
- Market value
- $126,559
- Dividends paid
- $147
- Gain / loss
- +$26,705
- Today
- -2.20%
GDXJ
VanEck Junior Gold Miners
$125,607
- Market value
- $125,381
- Dividends paid
- $226
- Gain / loss
- +$25,607
- Today
- -2.49%
Total return includes estimated distributions since rebalance (0.39% TTM on Major). Last close. GDX and GDXJ are listed so the two Maximum Alpha books can be compared on the same dollars.
Growth of 100
One year vs GDX / GDXJ
MAXA +61.37% · MAXJ +88.01% · GDX +45.14% · GDXJ +49.46%
MAXA
Alpha Major & Streaming
Since rebalance
+31.44%
Today -1.77%
TTM yield 0.39%
- Names
- 63
- Equal weight
- 1.59%
- vs GDX
- GDX
Mid-tier / growing CF 45.58%Senior producer 38.42%Streaming & royalty 16.00%Gold 64.81%Silver 20.34%
MAXJ
Alpha Junior & Developer
Since rebalance
+42.73%
Today -1.14%
TTM yield 0.00%
- Names
- 56
- Equal weight
- 1.79%
- vs GDXJ
- GDXJ
Near-term developer 100.00%Gold 56.72%Silver 35.82%
How the books are built
Durrett screens, Hart management
- U.S. listed, including the OTC. No price floor.
- Fully diluted shares ≤ 1 billion. Majors with bloated structure are out.
- Developers only at 0.50× NPV or less, in both books.
- No names with a lot of debt and no plan to pay it.
- Majors: streamers in. Dividend payers auto-included. Mid-tier only if cash flow is growing.
- Juniors: near-term gold and silver developers — Hycroft, 1911 Gold, Silver Tiger, GoGold, Denarius.
- Mandate is 100 names at 1% each. The live book equal-weights what clears the screen (1.59% Major, 1.79% Junior) and lets weights drift.
- Rebalanced quarterly. Last print June 30, 2026.
Named names
In the books on purpose
Major carries Aya Gold & Silver and the streaming sleeve. Junior carries Hycroft, 1911 Gold, Silver Tiger, GoGold, and Denarius. If a name rips through 1%, the live weight is shown — it is not capped between rebalances.
Open the full book