RCF Management L.L.C.

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Reported portfolio value by quarter (15 quarters reported)

$128M —

Q2 13 Q1 14 Q4 14 Q3 15 Q2 25 Q4 25

$118M in Q2 2013 → — now. Hover for any quarter.

Holdings

As reported for the quarter ended December 31, 2025. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
N N/a	NaN%	Unchanged	0	—

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.

quarter ended December 31, 2025 · filed February 12, 2026

No position changes this quarter.

quarter ended September 30, 2025 · filed October 15, 2025

No position changes this quarter.

quarter ended June 30, 2025 · filed August 12, 2025

Company	Action	Shares changed	Value of change	% of portfolio
Iamgold Corp	Exited	−16,456,570	−$103M	—
N N/a	New	+0	—	—

quarter ended March 31, 2025 · filed May 14, 2025

Company	Action	Shares changed	Value of change	% of portfolio
Iamgold Corp	Trimmed	−8,383,430	−$52.4M	100.0%

quarter ended December 31, 2024 · filed February 12, 2025

Company	Action	Shares changed	Value of change	% of portfolio
Iamgold Corp	New	+24,840,000	+$128M	100.0%
UR Uranium Resources Inc	Exited	−7,454,223	−$5.96M	—
N Novacopper Inc.	Exited	−2,001,300	−$737K	—

quarter ended September 30, 2015 · filed November 16, 2015

Company	Action	Shares changed	Value of change	% of portfolio
UR Uranium Resources Inc	Added	+225,071	+$180K	89.0%

quarter ended June 30, 2015 · filed August 14, 2015

Company	Action	Shares changed	Value of change	% of portfolio
UR Uranium Resources Inc	Added	+169,909	+$160K	87.2%

quarter ended March 31, 2015 · filed May 15, 2015

Company	Action	Shares changed	Value of change	% of portfolio
N Novacopper Inc.	Added	+838,100	+$527K	6.8%
UR Uranium Resources Inc	Added	+136,463	+$336K	93.2%

Comments