Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (13 quarters reported)
$102M in Q4 2018 → $132K now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| MR Metalla Rty & Streaming Ltd | 19.0% | Added 3.8% | 2,666,083 | $25.1K |
| FN Franco Nev Corp | 13.9% | Added 0.6% | 76,915 | $18.4K |
| AE Agnico Eagle Mines Ltd Com | 10.9% | Added 9.6% | 78,550 | $14.4K |
| FM Fortuna Mng Corp | 8.9% | Added 4.6% | 1,046,319 | $11.8K |
| Or Royalties Inc | 5.9% | Added 7.0% | 227,946 | $7.83K |
| TF Triple Flag Precious Metal | 5.7% | Trimmed 6.8% | 243,435 | $7.49K |
| Royal Gold Inc | 5.3% | Added 24% | 29,545 | $6.98K |
| PA Pan Amern Silver Corp | 5.2% | Added 8.7% | 150,947 | $6.86K |
| Wheaton Precious Metals Corp | 3.6% | Trimmed 0.5% | 35,409 | $4.73K |
| ER Elemental Rty Corp | 3.6% | Added 0.1% | 245,057 | $4.7K |
| Equinox Gold Corp | 2.9% | Added 106% | 345,308 | $3.84K |
| Dakota Gold Corp | 2.3% | New | 502,184 | $3.06K |
| B2gold Corp | 2.1% | Trimmed 91% | 536,864 | $2.81K |
| AC Ares Capital Corp Com | 1.5% | Trimmed 4.3% | 103,562 | $1.98K |
| SA Sprott Asset Management LP Physical Silver | 1.1% | Added 0.9% | 75,700 | $1.47K |
| GL Gladstone Ld Corp | 1.0% | Added 2.1% | 142,110 | $1.35K |
| Dorchester Minerals L P | 1.0% | Added 75% | 47,250 | $1.32K |
| AA Anglogold Ashanti PLC Com Shs | 1.0% | Trimmed 62% | 13,540 | $1.28K |
| WC Western Copper & Gold Corp | 0.9% | Added 19% | 524,500 | $1.16K |
| Seabridge Gold Inc | 0.8% | New | 37,500 | $1.07K |
| AM Aris Mining Corporation Com | 0.7% | New | 56,600 | $987 |
| DP Diageo PLC Spon ADR | 0.7% | Added 1.9% | 10,550 | $904 |
| SF Sprott Fds Tr Urani Miner ETF | 0.7% | New | 18,180 | $864 |
| IU Itau Unibanco Hldg S A Spon ADR | 0.3% | New | 52,400 | $449 |
| GC Golub Cap Bdc Inc | 0.3% | Trimmed 14% | 31,300 | $395 |
| Ivanhoe Electric Inc | 0.3% | Unchanged | 35,438 | $355 |
| FM First Majestic Silver Corp Com | 0.3% | New | 19,700 | $349 |
| BB Banco Bradesco S A Sp ADR Pfd New | 0.2% | New | 62,500 | $221 |
| I-80 Gold Corp | 0.0% | Trimmed 39% | 30,000 | $50 |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 16, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Dakota Gold Corp | Exited | −498,784 | −$2.12M | — |
| BM Barrick Mng Corp | Exited | −36,275 | −$1.33M | — |
| OM Orla Mng Ltd | Exited | −107,095 | −$1.05M | — |
| Conagra Brands Inc | Exited | −36,500 | −$489K | — |
| B2gold Corp | Trimmed | −5,693,729 | −$29.8K | 2.1% |
| Dakota Gold Corp | New | +502,184 | +$3.06K | 2.3% |
| AA Anglogold Ashanti PLC Com Shs | Trimmed | −22,060 | −$2.08K | 1.0% |
| Equinox Gold Corp | Added | +177,945 | +$1.98K | 2.9% |
| Royal Gold Inc | Added | +5,765 | +$1.36K | 5.3% |
| AE Agnico Eagle Mines Ltd Com | Added | +6,903 | +$1.27K | 10.9% |
Showing the 10 largest of 32 changes.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| B2gold Corp | Added | +5,683,429 | +$21.3M | 18.0% |
| Anglogold Ashanti PLC | New | +35,600 | +$2.88M | 2.2% |
| MR Metalla Rty & Streaming Ltd | Added | +249,429 | +$1.9M | 15.1% |
| BM Barrick Mng Corp | Trimmed | −37,259 | −$1.37M | 1.0% |
| TF Triple Flag Precious Metal | Trimmed | −41,220 | −$1.23M | 6.0% |
| Dorchester Minerals L P | New | +27,050 | +$687K | 0.5% |
| Agnico Eagle Mines Ltd | Added | +3,377 | +$522K | 8.5% |
| PA Pan Amern Silver Corp | Trimmed | −9,447 | −$422K | 4.8% |
| Versamet Royalties Corp | Exited | −33,500 | −$316K | — |
| Royal Gold Inc | Added | +1,559 | +$312K | 3.7% |
Showing the 10 largest of 26 changes.
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Dakota Gold Corp | Exited | −542,720 | −$3.09M | — |
| Dakota Gold Corp | New | +555,084 | +$2.77M | 2.3% |
| BM Barrick Mng Corp | Trimmed | −51,771 | −$2.11M | 2.5% |
| MR Metalla Rty & Streaming Ltd | Added | +236,950 | +$1.56M | 12.7% |
| Diageo PLC | New | +10,200 | +$759K | 0.6% |
| TF Triple Flag Precious Metal | Trimmed | −20,931 | −$727K | 8.7% |
| DM Dorchester Minerals LP | Exited | −29,050 | −$644K | — |
| ER Elemental Rty Corp | Trimmed | −33,478 | −$633K | 3.9% |
| FN Franco Nev Corp | Trimmed | −2,435 | −$602K | 15.6% |
| Equinox Gold Corp | Added | +38,500 | +$556K | 2.1% |
Showing the 10 largest of 30 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TF Triple Flag Precious Metal | New | +323,309 | +$10.7M | 8.9% |
| MR Metalla Rty & Streaming Ltd | Added | +1,272,473 | +$9.89M | 13.5% |
| FM Fortuna Mng Corp | New | +941,349 | +$9.24M | 7.7% |
| OR Or Royalties Inc. Com Shs | New | +225,992 | +$8.04M | 6.7% |
| OG Osisko Gold Royalties Ltd | Exited | −585,769 | −$7.43M | — |
| FN Franco Nev Corp | Trimmed | −35,259 | −$7.3M | 13.6% |
| FS Fortuna Silver Mines Inc | Exited | −876,129 | −$7.21M | — |
| ER Emx Rty Corp | Exited | −2,045,908 | −$6.75M | — |
| Agnico Eagle Mines Ltd | Added | +35,011 | +$5.95M | 9.9% |
| BM Barrick Mng Corp | New | +125,305 | +$5.47M | 4.6% |
Showing the 10 largest of 51 changes.
quarter ended December 31, 2020 · filed February 10, 2021
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BG Barrick Gold Corporation | Added | +59,882 | +$1.36M | 3.6% |
| BG Barrick Gold Corporation | New | +53,300 | +$1.21M | 1.4% |
| MR Metalla Rty & Streaming Ltd | Trimmed | −81,060 | −$1.02M | 12.0% |
| Almaden Minerals Ltd | Exited | −1,100,187 | −$903K | — |
| Gold Fields Ltd | New | +33,600 | +$765K | 0.9% |
| Franco Nevada Corp | Trimmed | −5,216 | −$653K | 16.8% |
| MU Mitsubishi Ufj Finl Group In | New | +135,500 | +$599K | 0.7% |
| ER Eog Res Inc | Trimmed | −10,700 | −$534K | 0.3% |
| Freeport-mcmoran Inc | Exited | −32,110 | −$500K | — |
| GP Glaxosmithkline PLC | New | +13,590 | +$500K | 0.6% |
Showing the 10 largest of 38 changes.
quarter ended September 30, 2020 · filed November 13, 2020
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tesla Inc | Exited | −7,600 | −$8.21M | — |
| BB Barclays Bank PLC Ipth | Added | +48,000 | +$1.19M | 2.1% |
| MR Metalla Rty & Streaming Ltd | Added | +80,561 | +$635K | 9.0% |
| ER Eog Res Inc | New | +16,190 | +$583K | 0.7% |
| Freeport-mcmoran Inc | Trimmed | −31,100 | −$484K | 0.6% |
| Vista Gold Corp | Added | +424,500 | +$458K | 3.7% |
| ER Emx Rty Corp | Trimmed | −112,036 | −$295K | 6.7% |
| SP Sprott Physical Silver Tr | Trimmed | −35,112 | −$291K | 0.9% |
| OG Osisko Gold Royalties Ltd | Trimmed | −20,491 | −$243K | 9.1% |
| FS Fortuna Silver Mines Inc | Trimmed | −37,400 | −$237K | 7.2% |
Showing the 10 largest of 32 changes.
quarter ended June 30, 2020 · filed August 11, 2020
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tesla Inc | Added | +5,700 | +$6.15M | 10.6% |
| MR Metalla Rty & Streaming Ltd | New | +810,825 | +$4.3M | 5.5% |
| Franco Nevada Corp | Trimmed | −11,083 | −$1.55M | 21.7% |
| Equinox Gold Corp | New | +110,300 | +$1.24M | 1.6% |
| GL Gladstone Ld Corp | Trimmed | −43,814 | −$695K | 1.2% |
| SP Sprott Physical Silver Tr | Added | +96,412 | +$637K | 1.0% |
| RD Royal Dutch Shell PLC | Exited | −17,810 | −$621K | — |
| FS Fortuna Silver Mines Inc | Trimmed | −113,370 | −$574K | 6.0% |
| Wheaton Precious Metals Corp | Trimmed | −11,170 | −$490K | 3.1% |
| BG Barrick Gold Corporation | Trimmed | −16,500 | −$446K | 0.1% |
Showing the 10 largest of 33 changes.
quarter ended March 31, 2020 · filed April 27, 2020
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BB Barclays Bk PLC Shrt Trm | Trimmed | −85,500 | −$3.93M | 2.6% |
| IT Ishares Tr Phlx Semicnd | Exited | −8,000 | −$2.01M | — |
| Tesla Inc | Trimmed | −2,700 | −$1.42M | 2.0% |
| Ares Capital Corp | Added | +41,726 | +$450K | 4.4% |
| Gladstone Capital Corp | Added | +68,925 | +$386K | 1.1% |
| BG Barrick Gold Corporation | New | +18,500 | +$338K | 0.7% |
| FS Fortuna Silver Mines Inc | Added | +138,400 | +$320K | 4.8% |
| BG Barrick Gold Corporation | Added | +17,115 | +$313K | 2.6% |
| GI Gladstone Invt Corp | Added | +37,480 | +$295K | 2.7% |
| Sandstorm Gold Ltd | Added | +59,000 | +$295K | 0.8% |
Showing the 10 largest of 37 changes.
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