Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$154M in Q4 2019 → $314M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| AG Americas Gold And Silver Cor | 29.2% | Unchanged | 19,392,000 | $91.5M |
| OM Orla Mng Ltd New | 21.9% | Added 13% | 7,000,000 | $68.5M |
| Equinox Gold Corp | 15.2% | Unchanged | 4,900,000 | $47.7M |
| New Found Gold Corp | 8.0% | Added 243% | 16,312,500 | $25.2M |
| MR Metalla Rty & Streaming Ltd | 7.3% | Unchanged | 3,000,000 | $22.8M |
| Versamet Royalties Corp | 5.5% | Unchanged | 1,400,000 | $17.2M |
| Alamos Gold Inc | 4.4% | Unchanged | 450,000 | $13.7M |
| Agnico Eagle Mines Ltd | 4.0% | Unchanged | 80,000 | $12.4M |
| B2gold Corp | 2.4% | Unchanged | 2,000,000 | $7.48M |
| IR Integra Res Corp | 1.9% | Unchanged | 2,562,526 | $5.81M |
| VM Vaneck Merk Gold ETF | 0.4% | Trimmed 13% | 29,794 | $1.15M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| New Found Gold Corp | Added | +11,562,500 | +$17.9M | 8.0% |
| OM Orla Mng Ltd New | Added | +800,000 | +$7.83M | 21.9% |
| VM Vaneck Merk Gold ETF | Trimmed | −4,406 | −$170K | 0.4% |
quarter ended March 31, 2026 · filed May 18, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AG Americas Gold And Silver Cor | Trimmed | −4,037,000 | −$21.1M | 27.5% |
| Versamet Royalties Corp | New | +1,400,000 | +$13.3M | 3.6% |
| VM Vaneck Merk Gold ETF | Added | +11,333 | +$511K | 0.4% |
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AG Alamos Gold Inc New | Trimmed | −300,000 | −$11.6M | 4.8% |
| AG Americas Gold And Silver Cor | Trimmed | −2,250,000 | −$11.5M | 33.2% |
| GF Gold Fields Ltd-adr | Exited | −250,000 | −$10.5M | — |
| Agnico Eagle Mines Ltd | Trimmed | −60,000 | −$10.2M | 3.8% |
| New Found Gold Corp | Added | +2,400,000 | +$7.1M | 3.9% |
| IR Integra Res Corp | Trimmed | −1,437,473 | −$5.76M | 2.8% |
| VM Vaneck Merk Gold ETF | Trimmed | −3,737 | −$155K | 0.3% |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Americas Gold And Silver | New | +25,679,000 | +$95.5M | 29.4% |
| AG Americas Gold And Silver Cor | Exited | −71,151,028 | −$57.5M | — |
| Anglogold Ashanti PLC | Exited | −275,000 | −$12.5M | — |
| GF Gold Fields Ltd-adr | Trimmed | −250,000 | −$10.5M | 3.2% |
| Alamos Gold Inc | Trimmed | −250,000 | −$8.72M | 8.0% |
| New Found Gold Corp | New | +2,350,000 | +$5.59M | 1.7% |
| IR Integra Resource | Trimmed | −1,524,511 | −$4.5M | 3.6% |
| Agnico Eagle Mines Ltd | Trimmed | −25,000 | −$4.21M | 7.3% |
| VM Vaneck Merk Gold ETF | Added | +7,355 | +$274K | 0.3% |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Equinox Gold Corp | New | +4,900,000 | +$28.3M | 11.5% |
| VM Vaneck Merk Gold ETF | Added | +6,455 | +$206K | 0.2% |
quarter ended March 31, 2025 · filed May 16, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AG Americas Gold And Silver Cor | Added | +68,400,000 | +$36.6M | 20.7% |
| VM Vaneck Merk Gold ETF | Trimmed | −6,969 | −$210K | 0.2% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BG Barrick Gold Corp | Exited | −650,000 | −$12.9M | — |
| MR Metalla Rty & Streaming Ltd | Added | +771,189 | +$1.94M | 7.7% |
| VM Vaneck Merk Gold ETF | Added | +5,371 | +$136K | 0.5% |
| AG Americas Gold And Silver Cor | Added | +50,000 | +$19.1K | 1.1% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MR Metalla Rty & Streaming Ltd | Added | +1,778,811 | +$5.5M | 6.5% |
| Gold Fields Ltd | Trimmed | −100,000 | −$1.54M | 7.3% |
| IR Integra Res Corp | Added | +1,037,038 | +$1.02M | 5.1% |
| Perpetua Resources Corp | Exited | −153,484 | −$798K | — |
| VM Vaneck Merk Gold ETF | Trimmed | −4,408 | −$112K | 0.3% |
Loading...
