Medici Capital 13F annual report

Medici Capital is an investment fund managing more than $45.3 billion ran by Karen Davis. There are currently 8 companies in Mrs. Davis’s portfolio. The largest investments include Spdr Gold Minishares Trust and Agnico Eagle Mines Ltd, together worth $32.8 billion.

$45.3 billion Assets Under Management (AUM)

As of 7th August 2024, Medici Capital’s top holding is 555,240 shares of Spdr Gold Minishares Trust currently worth over $25.6 billion and making up 56.5% of the portfolio value. In addition, the fund holds 109,682 shares of Agnico Eagle Mines Ltd worth $7.17 billion, whose value grew 71.1% in the past six months. The third-largest holding is Exxon Mobile Corp worth $5.42 billion and the next is Occidental Pete Corp worth $3.41 billion, with 54,050 shares owned.

Currently, Medici Capital's portfolio is worth at least $45.3 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Medici Capital

The Medici Capital office and employees reside in Newport Beach, California. According to the last 13-F report filed with the SEC, Karen Davis serves as the Managing Director at Medici Capital.

Recent trades

In the most recent 13F filing, Medici Capital revealed that it had opened a new position in Agnico Eagle Mines Ltd and bought 109,682 shares worth $7.17 billion. This means they effectively own approximately 0.1% of the company. Agnico Eagle Mines Ltd makes up 100.0% of the fund's Materials sector allocation and has grown its share price by 61.1% in the past year.

The investment fund also strengthened its position in Spdr Gold Minishares Trust by buying 239,361 additional shares. This makes their stake in Spdr Gold Minishares Trust total 555,240 shares worth $25.6 billion.

On the other hand, there are companies that Medici Capital is getting rid of from its portfolio. Medici Capital closed its position in Proshares Tr Shrt 20 Yr Tre on 14th August 2024. It sold the previously owned 690,569 shares for $17.4 billion. Karen Davis also disclosed a decreased stake in Spdr Gold Shares by 0.7%. This leaves the value of the investment at $860 million and 4,000 shares.

One of the smallest hedge funds

The two most similar investment funds to Medici Capital are Fifth Lane Capital, L.P. and Quaero Capital S.A.. They manage $45.3 billion and $45.2 billion respectively.

Karen Davis investment strategy

Medici Capital’s portfolio is diversified across 3 sectors. Currently, their heaviest sector is Materials — making up 15.8% of the total portfolio value. The fund focuses on investments in the Canada as 12.5% of the portfolio companies are based in the Canada.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 13% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $6.57 billion.

The complete list of Medici Capital trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Spdr Gold Minishares Trust	75.78% 555,240	$25,591,012,000	56.46%
Proshares Tr Shrt 20 Yr Tre	Closed 690,569	$17,367,810,000
Ishares Tr 20 Yr Tr Bd Etf	Closed 121,600	$10,784,704,000
Agnico Eagle Mines Ltd	Opened 109,682	$7,173,203,000	15.83%
Exxon Mobile Corp	Opened 47,100	$5,422,152,000	11.96%
Occidental Pete Corp	Opened 54,050	$3,406,772,000	7.52%
Axs Short Innovation Daily	Closed 45,000	$1,786,500,000
Emx Rty Corp	Opened 731,500	$1,316,700,000	2.90%
Spdr Gold Shares	66.94% 4,000	$860,040,000	1.90%
Ishares Silver Trust	No change 30,000	$797,100,000	1.76%
Alector, Inc.	180.27% 167,191	$759,047,000	1.67%
No transactions found
Showing first 500 out of 11 holdings