What could it be?, page-9

If Global X was to add CXO that would be big. LIT on the US has a US market cap of $4.8b (AU$6.5b). The current Australian weighting is 6.84% but its spread across holdings outside the top10. The fact sheet notes 37 holdings but only lists the top 10 which doesn't include any Australian companies. A few months ago when I noted some percentages into a spreadsheet Mineral Resources was in the top 10 at a 4.04% holding but they have since dropped out of the top10. The rest of the top10 was the same.

Outside the top10 they have 27 holdings with a cumulative weighting of 38.35% (or on-average 1.4% of the fund per company). If they brought CXO in with a 0.5% weighting they would be a buyer for A$32m shares. Weightings higher than 0.5% are possible if they were forward looking at probable spod production by CXO and other producing Australian miners. If they went for 1.0%, they would be a buyer for $65m of stock. While CXO is planned for less spod production than Mt Marion, its a cleaner lithium exposure without all the extra iron ore exposure. If they could get to 4% of the fund into MIN, something higher than 1% in CXO would appear possible.

The current holdings number is 37 and when I looked a few months ago it was 39. They would obviously have lost one holding as GXY merged with ORE. I've got no idea what the other dropped company was. Below is what I rekeyed from their fact sheet a few months ago and what they are now.