Maximum Alpha

Created by Paul Hart

The book

Live holdings and weights

Equal-weighted at the last rebalance. As a name runs, its weight prints above the target line. As it fades, it prints below. Nothing is clipped between quarters.

63 names · live weight vs 1.59% target

ARISNamed

Aris Mining

NYSE · Mid-tier / growing CF · Gold

1.93%

++0.34% drift

$20.05

-2.43%		+59.63%0.58×—180M
AYANamed

Aya Gold & Silver

NASDAQ · Mid-tier / growing CF · Silver

1.91%

++0.32% drift

$28.91

-3.05%		+58.24%0.62×—144M
DSVNamed

Discovery Silver

OTCQX · Mid-tier / growing CF · Silver

1.88%

++0.30% drift

$9.48

-2.17%		+55.92%0.48×—400M
USASNamed

Americas Gold and Silver

NYSE · Mid-tier / growing CF · Silver

1.88%

++0.29% drift

$5.36

-3.25%		+55.81%0.46×—270M
PAASNamed

Pan American Silver

NYSE · Senior producer · Gold & silver

1.86%

++0.27% drift

$51.34

-2.40%		+53.94%0.90×0.93%363M
ASMNamed

Avino Silver & Gold

NYSE · Mid-tier / growing CF · Silver

1.84%

++0.25% drift

$7.33

-4.68%		+52.39%0.48×—147M
AEMNamed

Agnico Eagle Mines

NYSE · Senior producer · Gold

1.81%

++0.23% drift

$204.73

-1.16%		+50.26%1.05×0.78%502M
APMNamed

Andean Precious Metals

OTCQX · Mid-tier / growing CF · Silver

1.77%

++0.19% drift

$5.21

-4.23%		+46.76%0.50×—150M
KNT

K92 Mining

OTCQX · Mid-tier / growing CF · Gold

1.77%

++0.18% drift

$21.11

-2.90%		+46.50%0.88×—241M
CDENamed

Coeur Mining

NYSE · Mid-tier / growing CF · Gold & silver

1.76%

++0.17% drift

$21.24

-1.89%		+45.78%0.82×—399M
TRX

TRX Gold

NYSE · Mid-tier / growing CF · Gold

1.76%

++0.17% drift

$1.15

-4.96%		+45.48%0.44×—280M
ARTG

Artemis Gold

OTCQX · Mid-tier / growing CF · Gold

1.75%

++0.17% drift

$30.11

-0.92%		+45.32%0.82×—230M
CERT

Cerrado Gold

OTCQX · Mid-tier / growing CF · Gold

1.75%

++0.16% drift

$1.96

+5.38%		+44.80%0.45×—130M
HSTRNamed

Heliostar Metals

OTCQX · Mid-tier / growing CF · Gold

1.72%

++0.13% drift

$1.64

-3.16%		+42.46%0.50×—200M
CTGO

Contango Silver & Gold

NYSE · Mid-tier / growing CF · Gold & silver

1.72%

++0.13% drift

$19.77

-1.84%		+42.23%0.58×—12.0M
ITRG

Integra Resources

NYSE · Mid-tier / growing CF · Gold

1.70%

++0.12% drift

$2.80

-3.11%		+41.10%0.55×—169M
GSVR

Guanajuato Silver

OTCQX · Mid-tier / growing CF · Silver

1.70%

++0.11% drift

$0.334

-2.63%		+40.80%0.42×—480M
EXK

Endeavour Silver

NYSE · Mid-tier / growing CF · Silver

1.70%

++0.11% drift

$11.12

-3.05%		+40.40%0.74×—290M
IDR

Idaho Strategic Resources

NYSE · Mid-tier / growing CF · Gold

1.69%

++0.11% drift

$31.45

+0.13%		+40.28%0.72×—16.0M
GMIN

G Mining Ventures

OTCQX · Mid-tier / growing CF · Gold

1.68%

++0.09% drift

$37.34

-2.89%		+38.86%0.70×—227M
HLNamed

Hecla Mining

NYSE · Senior producer · Silver

1.67%

++0.09% drift

$20.68

-2.50%		+38.61%0.85×0.17%632M
BVN

Buenaventura

NYSE · Senior producer · Gold & silver

1.67%

++0.08% drift

$33.90

-2.50%		+38.25%0.66×0.86%254M
AG

First Majestic Silver

NYSE · Senior producer · Silver

1.67%

++0.08% drift

$20.97

-1.96%		+38.23%0.78×0.06%302M
ORLA

Orla Mining

NYSE · Mid-tier / growing CF · Gold

1.67%

++0.08% drift

$9.44

+5.59%		+38.21%0.76×—323M
AAUC

Allied Gold

NYSE · Mid-tier / growing CF · Gold

1.66%

++0.07% drift

$23.62

-1.75%		+37.33%0.64×—113M
HMY

Harmony Gold

NYSE · Senior producer · Gold

1.64%

++0.05% drift

$20.27

-2.36%		+35.40%0.70×1.09%635M
EDV

Endeavour Mining

OTCQX · Senior producer · Gold

1.63%

++0.05% drift

$63.45

-1.69%		+35.17%0.84×2.21%245M
AU

AngloGold Ashanti

NYSE · Senior producer · Gold

1.62%

++0.03% drift

$109.07

-2.33%		+33.86%0.92×1.93%421M
WPMNamed

Wheaton Precious Metals

NYSE · Streaming & royalty · Gold & silver

1.61%

++0.03% drift

$154.98

-1.05%		+33.68%1.12×0.42%453M
FSM

Fortuna Mining

NYSE · Senior producer · Gold & silver

1.61%

++0.03% drift

$12.31

-2.76%		+33.66%0.64×0.32%307M
MUX

McEwen

NYSE · Mid-tier / growing CF · Gold & silver

1.61%

++0.02% drift

$20.07

-2.29%		+33.27%0.60×—54.0M
DPM

DPM Metals

OTC · Senior producer · Gold

1.59%

++0.00% drift

$44.10

-1.12%		+31.72%0.80×0.36%220M
DRD

DRDGOLD

NYSE · Senior producer · Gold

1.59%

-0.00% drift

$28.58

-3.48%		+31.28%0.72×1.47%86.0M
IAG

IAMGOLD

NYSE · Mid-tier / growing CF · Gold

1.56%

-0.03% drift

$20.48

-2.20%		+28.89%0.72×—575M
OR

OR Royalties

NYSE · Streaming & royalty · Gold

1.55%

-0.04% drift

$37.31

-0.98%		+28.13%0.98×0.54%188M
TFPM

Triple Flag Precious Metals

NYSE · Streaming & royalty · Gold & silver

1.54%

-0.04% drift

$33.92

-1.82%		+27.76%0.94×0.65%201M
GORO

Goldgroup Mining

NYSE · Mid-tier / growing CF · Gold

1.54%

-0.05% drift

$4.15

+2.47%		+27.63%0.40×—140M
EGO

Eldorado Gold

NYSE · Senior producer · Gold

1.54%

-0.05% drift

$43.02

-1.76%		+27.54%0.80×—205M
JAG

Jaguar Mining

OTCQX · Senior producer · Gold

1.53%

-0.06% drift

$5.89

+0.34%		+26.67%0.52×1.36%79.0M
ORE

Orezone Gold

OTCQX · Mid-tier / growing CF · Gold

1.53%

-0.06% drift

$1.99

-1.49%		+26.29%0.54×—530M
TSK

Talisker Resources

OTCQB · Mid-tier / growing CF · Gold

1.52%

-0.06% drift

$1.13

-2.60%		+26.08%0.42×—150M
CGAU

Centerra Gold

NYSE · Senior producer · Gold

1.51%

-0.07% drift

$22.92

-0.52%		+25.31%0.60×1.22%214M
WDO

Wesdome Gold Mines

OTCQX · Senior producer · Gold

1.51%

-0.08% drift

$24.79

-1.12%		+25.14%0.78×—151M
FRES

Fresnillo

OTC · Senior producer · Silver

1.48%

-0.10% drift

$42.70

+0.95%		+22.91%0.90×0.98%737M
ELE

Elemental Royalty

NASDAQ · Streaming & royalty · Gold

1.48%

-0.11% drift

$21.19

-2.17%		+22.20%0.71×—64.0M
RGLD

Royal Gold

NASDAQ · Streaming & royalty · Gold

1.47%

-0.11% drift

$262.11

-1.03%		+22.12%1.18×0.69%66.0M
SVM

Silvercorp Metals

NYSE · Senior producer · Silver

1.47%

-0.12% drift

$12.48

-4.81%		+21.64%0.68×0.20%217M
GFI

Gold Fields

NYSE · Senior producer · Gold

1.47%

-0.12% drift

$47.40

-1.58%		+21.63%0.88×1.52%895M
MTA

Metalla Royalty & Streaming

NYSE · Streaming & royalty · Gold & silver

1.46%

-0.13% drift

$10.31

-1.34%		+20.58%0.58×—92.0M
CMCL

Caledonia Mining

NYSE · Senior producer · Gold

1.45%

-0.13% drift

$26.33

+0.04%		+20.28%0.75×2.13%19.0M
EMPYF

Empress Royalty

OTCQX · Streaming & royalty · Gold

1.45%

-0.14% drift

$0.693

-2.34%		+20.19%0.44×—110M
SROYF

Sailfish Royalty

OTCQX · Streaming & royalty · Gold

1.43%

-0.16% drift

$4.09

+1.97%		+18.02%0.48×—47.0M
GROY

Gold Royalty

NYSE · Streaming & royalty · Gold

1.40%

-0.19% drift

$3.35

-2.33%		+15.57%0.62×0.30%170M
TXG

Torex Gold

OTCQX · Senior producer · Gold

1.38%

-0.20% drift

$50.32

-1.97%		+14.62%0.74×—86.0M
LUG

Lundin Gold

OTCQX · Senior producer · Gold

1.38%

-0.21% drift

$72.37

-1.87%		+14.40%0.92×1.52%240M
HOC

Hochschild Mining

OTCQX · Senior producer · Silver

1.36%

-0.22% drift

$9.25

0.00%		+12.94%0.62×0.22%514M
AGI

Alamos Gold

NYSE · Senior producer · Gold

1.35%

-0.23% drift

$36.97

-1.91%		+12.10%0.95×0.27%266M
AUGO

Aura Minerals

NASDAQ · Senior producer · Gold

1.35%

-0.23% drift

$84.91

-3.63%		+12.09%0.80×1.74%74.0M
GAU

Galiano Gold

NYSE · Mid-tier / growing CF · Gold

1.35%

-0.24% drift

$2.27

-3.81%		+11.75%0.52×—254M
FNV

Franco-Nevada

NYSE · Streaming & royalty · Gold

1.33%

-0.26% drift

$266.18

-1.53%		+9.99%1.28×0.57%192M
VOXR

Vox Royalty

NASDAQ · Streaming & royalty · Gold

1.29%

-0.30% drift

$5.76

-0.86%		+6.47%0.66×0.85%51.0M
SSRM

SSR Mining

NASDAQ · Senior producer · Gold

1.25%

-0.34% drift

$37.15

-4.47%		+3.63%0.58×—202M
EQX

Equinox Gold

NYSE · Mid-tier / growing CF · Gold

1.24%

-0.35% drift

$12.81

-2.36%		+2.32%0.70×—456M