13F

Position

BFI Infinity Ltd. in Royal Gold Inc

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark $67.4K$222.29$254.49

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20252.09K$465.3K0.3%
Q1 20262.23K$566.2K$254.49$67.4K$33.6K0.3%