# NewGen Equity Long/Short Fund

> Institutional holdings reported to the SEC as of Q3 2025 on Form 13F. CIK 1774035. Source: https://holderbook.com/funds/1774035-newgen-equity-long-short-fund/

- Reported value: $374.0M
- Positions: 28
- Weight of the ten largest: 80.6%
- Filed: 2025-11-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $68.2M | 0 | 18.2% | 1 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $62.9M | 0 | 16.8% | 1 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $48.5M | 0 | 13.0% | 2 |
| AMERICAS GOLD AND SILVER COR | [USAS](https://holderbook.com/stocks/USAS/) | $36.9M | 9,285,312 | 9.9% | 1 |
| ISHARES SILVER TR | [SLV](https://holderbook.com/stocks/SLV/) | $22.0M | 0 | 5.9% | 1 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $13.9M | 425,000 | 3.7% | 1 |
| BLACKBERRY LTD | [BB](https://holderbook.com/stocks/BB/) | $13.7M | 2,800,000 | 3.7% | 2 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $13.2M | 129,400 | 3.5% | 2 |
| URANIUM ENERGY CORP | [UEC](https://holderbook.com/stocks/UEC/) | $11.4M | 400,000 | 3.1% | 1 |
| SOLARIS RES INC | [SLSR](https://holderbook.com/stocks/SLSR/) | $10.9M | 1,648,200 | 2.9% | 2 |
| I-80 GOLD CORP | [IAUXWS](https://holderbook.com/stocks/IAUXWS/) | $9.7M | 10,000,000 | 2.6% | 1 |
| IAMGOLD CORP | [IAG](https://holderbook.com/stocks/IAG/) | $9.0M | 780,000 | 2.4% | 2 |
| ENERFLEX LTD | [EFXT](https://holderbook.com/stocks/EFXT/) | $9.0M | 713,344 | 2.4% | 2 |
| BROOKFIELD RENEWABLE ENERGY | [BEP](https://holderbook.com/stocks/BEP/) | $7.3M | 239,500 | 2.0% | 2 |
| CENTERRA GOLD INC | [CGAU](https://holderbook.com/stocks/CGAU/) | $7.0M | 0 | 1.9% | 1 |
| PERPETUA RESOURCES CORP | [PPTA](https://holderbook.com/stocks/PPTA/) | $5.9M | 245,000 | 1.6% | 2 |
| NORTH AMERN CONSTR GROUP LTD | [NOA](https://holderbook.com/stocks/NOA/) | $4.7M | 302,908 | 1.3% | 1 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $4.2M | 90,000 | 1.1% | 2 |
| BROOKFIELD ASSET MANAGMT LTD | [BAM](https://holderbook.com/stocks/BAM/) | $4.0M | 75,000 | 1.1% | 1 |
| NETSKOPE INC | [NTSK](https://holderbook.com/stocks/NTSK/) | $3.5M | 150,000 | 0.9% | 1 |
| VOX ROYALTY CORP | [VOXR](https://holderbook.com/stocks/VOXR/) | $2.6M | 617,500 | 0.7% | 1 |
| DEFI TECHNOLOGIES INC | [DEFT](https://holderbook.com/stocks/DEFT/) | $2.6M | 1,369,864 | 0.7% | 1 |
| ALGOMA STL GROUP INC | [ASTL](https://holderbook.com/stocks/ASTL/) | $1.0M | 246,097 | 0.3% | 1 |
| CHEGG INC | - | $883.8K | 1,002,000 | 0.2% | 2 |
| LITE STRATEGY INC | [LITS](https://holderbook.com/stocks/LITS/) | $627.0K | 300,000 | 0.2% | 1 |
| POET TECHNOLOGIES INC | [POET](https://holderbook.com/stocks/POET/) | $121.7K | 18,900 | 0.0% | 1 |
| ALEANNA INC | [ANNA](https://holderbook.com/stocks/ANNA/) | $91.9K | 28,283 | 0.0% | 2 |
| SUI GROUP HOLDINGS LIMITED | [SUIG](https://holderbook.com/stocks/SUIG/) | $3.9K | 1,300 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2025 | +29.5% | +7.8% | +21.7% | 74% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2025 | $374.0M | 28 |
| Q2 2025 | $170.7M | 24 |