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NELSF

NewGen Equity Long/Short Fund Portfolio holdings

AUM $374M
This Fund
S&P 500
This Quarter Est. Return
+45.65%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$374M
AUM Growth
+$203M
Cap. Flow
+$135M
Cap. Flow %
35.99%
Top 10 Hldgs %
80.19%
Holding
41
New
17
Increased
3
Reduced
5
Closed
13

Top Buys

Rank Stock Value
1
B
Barrick Mining
B
+$10.8M
2
BAM icon
Brookfield Asset Management
BAM
+$4.46M
3
NOA
North American Construction
NOA
+$4.41M
4
UEC icon
Uranium Energy
UEC
+$4M
5
NTSK
Netskope Inc
NTSK
+$3.57M

Top Sells

Rank Stock Value
1
CLS icon
Celestica
CLS
+$14M
2
SAND
Sandstorm Gold
SAND
+$9.4M
3
USAS
Americas Gold and Silver
USAS
+$9.29M
4
NXE icon
NexGen Energy
NXE
+$8.33M
5
PRMB
Primo Brands
PRMB
+$6.97M

Sector Composition

Rank Sector Weight
1 Materials 21.47%
2 Energy 9.96%
3 Technology 4.63%
4 Utilities 1.96%
5 Financials 1.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$68.2M 18.23%
+100,000
New +$64.1M
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$449B
$62.9M 16.82%
+100,000
New +$57.3M
HYG icon
3
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$48.5M 12.96%
600,000
+400,000
+200% +$32.2M
USAS
4
Americas Gold and Silver
USAS
$1.37B
$36.9M 9.86%
9,285,312
-3,554,688
-28% -$9.29M
SLV icon
5
CALL
iShares Silver Trust
SLV
$28.3B
$22M 5.88%
+500,000
New +$18M
B
6
Barrick Mining
B
$62.6B
$13.9M 3.73%
+425,000
New +$10.8M
BB icon
7
BlackBerry
BB
$4.93B
$13.7M 3.65%
2,800,000
+100,000
+4% +$397K
CCJ icon
8
Cameco
CCJ
$38.9B
$13.2M 3.54%
129,400
-62,600
-33% -$4.85M
SLSR
9
Solaris Resources
SLSR
$1.3B
$10.9M 2.92%
1,648,200
+148,200
+10% +$787K
IAUX.WS
10
i-80 Gold Corp Warrants
IAUX.WS
$138M
$9.73M 2.6%
+10,000,000
New +$2.91M
IAG icon
11
IAMGOLD
IAG
$8.5B
$9.03M 2.41%
780,000
-146,200
-16% -$1.28M
EFXT
12
Enerflex
EFXT
$2.75B
$8.98M 2.4%
713,344
– –
BEP icon
13
Brookfield Renewable
BEP
$9.74B
$7.31M 1.96%
239,500
-2,400
-1% -$61.8K
CGAU
14
CALL
Centerra Gold
CGAU
$3.27B
$7.03M 1.88%
+600,000
New +$4.79M
UEC icon
15
Uranium Energy
UEC
$4.9B
$6.05M 1.62%
+400,000
New +$4M
PPTA
16
Perpetua Resources
PPTA
$2.28B
$5.89M 1.57%
245,000
-30,000
-11% -$507K
UEC icon
17
CALL
Uranium Energy
UEC
$4.9B
$5.37M 1.44%
+354,900
New +$3.55M
NOA
18
North American Construction
NOA
$376M
$4.72M 1.26%
+302,908
New +$4.41M
ENB icon
19
Enbridge
ENB
$121B
$4.2M 1.12%
90,000
– –
BAM icon
20
Brookfield Asset Management
BAM
$75.9B
$3.98M 1.06%
+75,000
New +$4.46M
NTSK
21
Netskope Inc
NTSK
$4.82B
$3.55M 0.95%
+150,000
New +$3.57M
VOXR
22
Vox Royalty Corp
VOXR
$296M
$2.64M 0.7%
+617,500
New +$2.12M
DEFT
23
Defi Technologies
DEFT
$166M
$2.62M 0.7%
+1,369,864
New +$3.55M
ASTL icon
24
Algoma Steel
ASTL
$463M
$1.03M 0.27%
+246,097
New +$1.31M
LITS
25
Lite Strategy Inc
LITS
$33.2M
$627K 0.17%
+300,000
New +$1.24M
1
2

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SA
Shilanski & Associates Anchorage, Alaska $376M AUM 19.08% 1-Year Est. Return
MFGP
Marshall Financial Group (Pennsylvania) Doylestown, Pennsylvania $364M AUM 12.86% 1-Year Est. Return
BCCM
Bridge Creek Capital Management West Barnstable, Massachusetts $360M AUM 16.27% 1-Year Est. Return
PA
Pineridge Advisors St. Charles, Missouri $350M AUM 6.38% 1-Year Est. Return
PAWA
Palo Alto Wealth Advisors Palo Alto, California $343M AUM 33.47% 1-Year Est. Return
BWA
Burt Wealth Advisors North Bethesda, Maryland $407M AUM 11.98% 1-Year Est. Return
CPA
Court Place Advisors Ellicott City, Maryland $332M AUM 16.16% 1-Year Est. Return
AACP
Advantage Alpha Capital Partners San Francisco, California $332M AUM 12.78% 1-Year Est. Return

NewGen Equity Long/Short Fund's Q3 2025 Portfolio in Review

As of Q3 2025, NewGen Equity Long/Short Fund held 41 positions worth $374M, up 119% from $171M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

NewGen Equity Long/Short Fund deployed $135M of net new capital in Q3 2025, opening 17 new positions and adding to 3 existing holdings. Its largest new stake was Barrick Mining: 425,000 shares worth $13.9M.

By sector, the portfolio is most concentrated in Materials at 21% of assets, down from 34% a quarter earlier, followed by Energy and Technology.

On the sell side, the largest reduction was Americas Gold and Silver, an estimated $9.29M trimmed.

  • NewGen Equity Long/Short Fund's largest Q3 2025 buy was Barrick Mining: 425,000 shares worth $13.9M.
  • NewGen Equity Long/Short Fund added most to Solaris Resources in Q3 2025, an estimated $787K increase.
  • NewGen Equity Long/Short Fund's biggest Q3 2025 reduction was Americas Gold and Silver, cutting an estimated $9.29M.
  • NewGen Equity Long/Short Fund fully exited Celestica in Q3 2025, selling an estimated $14M.
  • NewGen Equity Long/Short Fund's ten largest holdings make up 80% of its $374M portfolio in Q3 2025.
  • NewGen Equity Long/Short Fund opened 17 new positions and closed 13 in Q3 2025.
  • NewGen Equity Long/Short Fund's portfolio value rose 119% quarter-over-quarter to $374M.

Based on NewGen Equity Long/Short Fund's 13F filing for Q3 2025, filed 13 Nov 2025.