FNARX Holdings List

As of Mar 31, 2025

No.	Symbol	Name	% Weight	Shares
1	XOM	Exxon Mobil Corporation	20.58%	1,043,659
2	SHEL	Shell plc	10.12%	832,800
3	TSX: IMO	Imperial Oil Limited	10.04%	838,700
4	TSX: MEG	MEG Energy Corp.	5.02%	1,727,639
5	ELI: GALP	Galp Energia, SGPS, S.A.	4.22%	1,449,000
6	VLO	Valero Energy Corporation	4.10%	187,400
7	TSX: AEM	Agnico Eagle Mines Limited	3.82%	212,800
8	TSX: ATH	Athabasca Oil Corporation	3.59%	5,580,066
9	TSX: WPM	Wheaton Precious Metals Corp.	2.81%	218,550
10	EXE	Expand Energy Corporation	2.80%	151,883
11	TSX: SOBO	South Bow Corporation	2.68%	633,633
12	ATR	AptarGroup, Inc.	2.59%	105,500
13	TSX: FM	First Quantum Minerals Ltd.	2.53%	1,135,700
14	TRGP	Targa Resources Corp.	2.25%	67,800
15	IP	International Paper Company	2.04%	230,900
16	TSX: AOI	Africa Oil Corp.	1.97%	8,321,600
17	TSX: CVE	Cenovus Energy Inc.	1.83%	792,400
18	TSX: FNV	Franco-Nevada Corporation	1.66%	63,600
19	TSX: AGI	Alamos Gold Inc.	1.64%	369,400
20	TECK	Teck Resources Limited	1.62%	269,000
21	MPC	Marathon Petroleum Corporation	1.39%	57,700
22	MLM	Martin Marietta Materials, Inc.	1.11%	14,000
23	CCJ	Cameco Corporation	1.04%	152,200
24	TSX: IVN	Ivanhoe Mines Ltd.	0.91%	645,700
25	AVY	Avery Dennison Corporation	0.88%	29,700
26	COP	ConocoPhillips	0.81%	46,400
27	MOS	The Mosaic Company	0.80%	177,900
28	CCK	Crown Holdings, Inc.	0.79%	53,200
29	n/a	Fidelity Cash Central Fund	0.78%	4,700,195
30	OSL: TGS	TGS ASA	0.63%	404,422
31	APA	APA Corporation	0.53%	152,800
32	HL	Hecla Mining Company	0.53%	572,800
33	TSX: ALS	Altius Minerals Corporation	0.53%	184,200
34	KGS	Kodiak Gas Services, Inc.	0.48%	77,596
35	TSX: OLA	Orla Mining Ltd.	0.40%	257,500
36	TSXV: MTA	Metalla Royalty & Streaming Ltd.	0.23%	470,500
37	TSX: AG	First Majestic Silver Corp.	0.20%	182,100
38	n/a	Nok Spot Cc	0.06%	3,790,707
39	n/a	Cash	-0.01%	n/a

As of Mar 31, 2025

Asset Allocation

Asset Class	% Weight
Stocks	99.17%
Cash	0.83%

Sector Breakdown

Sector	% Weight
Energy	78.28%
Materials	17.63%
Other	4.09%

Country Breakdown

Sector	% Weight
United States	62.16%
Canada	29.51%
Switzerland	4.57%
United Kingdom	1.37%
Australia	1.22%
Netherlands	1.08%
Other	0.09%