Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$733M in Q2 2013 → $3.15B 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 |
|---|---|---|---|---|
| Sprott Inc | 15.0% | Added 0.4% | 4,201,699 | $472M |
| SF Sprott Focus Tr Inc | 4.7% | Added 0.7% | 15,644,152 | $148M |
| Agnico Eagle Mines Ltd | 3.4% | Added 1.3% | 693,786 | $108M |
| CM Coeur Mng Inc | 3.4% | Trimmed 4.9% | 6,486,445 | $106M |
| SS SPDR Series Trust | 3.2% | Added 25% | 1,100,998 | $101M |
| Iamgold Corp | 3.2% | Trimmed 4.0% | 6,312,748 | $100M |
| Wheaton Precious Metals Corp | 3.0% | Trimmed 3.3% | 844,608 | $95M |
| Equinox Gold Corp | 2.8% | Trimmed 4.4% | 9,086,538 | $88.4M |
| PA Pan Amern Silver Corp | 2.6% | Added 29% | 1,842,274 | $82.5M |
| Oceanagold Corp | 2.5% | New | 3,090,363 | $77.4M |
| Or Royalties Inc | 2.4% | Added 3.2% | 2,438,086 | $77.1M |
| SS State Str SPDR S&P 500 ETF T Put | 2.1% | Trimmed 20% | 87,200 | $65.5M |
| SA Sprott Asset Management LP | 2.0% | Trimmed 2.6% | 2,054,043 | $62M |
| EG Eldorado Gold Corp New | 1.9% | Added 26% | 1,897,863 | $59M |
| Vizsla Silver Corp | 1.6% | Trimmed 9.6% | 15,429,214 | $50.7M |
| SM Ssr Mining In | 1.6% | Added 171% | 1,767,322 | $50M |
| Kinross Gold Corp | 1.5% | Trimmed 6.8% | 2,050,997 | $48.4M |
| SR Skeena Res Ltd New | 1.5% | Added 77% | 1,796,605 | $47.9M |
| Anglogold Ashanti PLC | 1.5% | Trimmed 6.9% | 587,914 | $47.6M |
| FN Franco Nev Corp | 1.5% | Trimmed 0.3% | 226,629 | $47.2M |
| Perpetua Resources Corp | 1.4% | Trimmed 8.4% | 2,072,699 | $43M |
| Nucor Corp | 1.3% | Trimmed 10% | 185,368 | $41.3M |
| I-80 Gold Corp | 1.2% | Trimmed 26% | 26,525,350 | $38.5M |
| Endeavour Silver Corp | 1.2% | Added 66% | 4,459,995 | $36.9M |
| ER Elemental Rty Corp | 1.1% | Added 2.3% | 1,924,389 | $33.6M |
| SS Sunshine Silver Mng & Refng | 1.0% | New | 2,436,910 | $32.2M |
| BM Barrick Mng Corp | 1.0% | Trimmed 45% | 873,186 | $32.1M |
| SA Sprott Asset Management LP | 1.0% | Added 1.2% | 1,676,600 | $31.6M |
| TF Triple Flag Precious Metal | 1.0% | Trimmed 1.3% | 1,012,375 | $30.3M |
| Federated Hermes Inc | 0.9% | Unchanged | 513,885 | $28.4M |
| Royal Gold Inc | 0.9% | Trimmed 7.6% | 139,629 | $27.9M |
| CI Cf Industries Hold | 0.9% | Added 8.6% | 257,244 | $27.8M |
| Helmerich & Payne Inc | 0.9% | Trimmed 1.6% | 843,458 | $27.6M |
| Cal Maine Foods Inc | 0.9% | Added 7.9% | 342,780 | $27.6M |
| Viper Energy Inc | 0.9% | Added 0.1% | 641,791 | $27.2M |
| Alamos Gold Inc | 0.9% | Trimmed 19% | 892,239 | $27.1M |
| SA Sprott Asset Management LP | 0.8% | Trimmed 1.9% | 636,665 | $25.6M |
| Aya Gold & Silver Inc | 0.8% | New | 1,298,502 | $24.6M |
| Cameco Corp | 0.7% | Added 4.6% | 214,954 | $21.9M |
| EM Exxon Mobil Corp | 0.7% | Trimmed 37% | 157,390 | $21.5M |
| VE Vaneck ETF Trust Put | 0.7% | Trimmed 0.7% | 214,300 | $21.4M |
| TP Texas Pacific Land Corporati | 0.6% | Added 2.8% | 43,257 | $18.9M |
| IQ Invesco Qqq Tr Put | 0.6% | Trimmed 7.2% | 25,700 | $18.4M |
| Reliance Inc | 0.6% | Trimmed 12% | 46,844 | $17.5M |
| Steel Dynamics Inc | 0.5% | Trimmed 23% | 73,381 | $16.8M |
| Gold Fields Ltd | 0.5% | Added 432% | 499,952 | $16.8M |
| New Found Gold Corp | 0.5% | Added 36% | 10,474,172 | $16.1M |
| SR Solaris Res Inc | 0.5% | Added 0.1% | 1,763,559 | $14.8M |
| N Newmont Corp | 0.5% | Trimmed 4.6% | 155,464 | $14.5M |
| MR Metalla Rty & Streaming Ltd | 0.5% | Added 17% | 1,866,248 | $14.2M |
| SF Sprott Fds Tr | 0.4% | Added 40% | 534,445 | $13.7M |
| IT Ishares Tr Call | 0.4% | Added 9.3% | 143,700 | $13.5M |
| AP Artisan Partners Asset Mgmt | 0.4% | Unchanged | 362,095 | $12.5M |
| SP Sprott Physical Copper Trust | 0.4% | New | 1,084,885 | $12.5M |
| Westlake Corporation | 0.4% | Added 21% | 160,110 | $11.7M |
| BH Block H & R Inc | 0.3% | Added 73% | 285,000 | $10.9M |
| First Majestic Silver Corp | 0.3% | Added 5.3% | 599,877 | $10.2M |
| AG Asa Gold And Precious Mtls L | 0.3% | Trimmed 2.5% | 195,183 | $10.2M |
| Cirrus Logic Inc | 0.3% | Trimmed 23% | 68,000 | $10.1M |
| Buckle Inc | 0.3% | Added 6.8% | 235,000 | $9.92M |
Showing top 60 of 268 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed July 28, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Oceanagold Corp | New | +3,090,363 | +$77.4M | 2.5% |
| SS Sunshine Silver Mng & Refng | New | +2,436,910 | +$32.2M | 1.0% |
| SM Ssr Mining In | Added | +1,115,882 | +$31.6M | 1.6% |
| BM Barrick Mng Corp | Trimmed | −724,062 | −$26.6M | 1.0% |
| Aya Gold & Silver Inc | New | +1,298,502 | +$24.6M | 0.8% |
| SR Skeena Res Ltd New | Added | +778,896 | +$20.8M | 1.5% |
| SS SPDR Series Trust | Added | +222,947 | +$20.4M | 3.2% |
| IT International Tower Hill Min | Trimmed | −9,813,665 | −$19.5M | — |
| PA Pan Amern Silver Corp | Added | +415,938 | +$18.6M | 2.6% |
| SS State Str SPDR S&P 500 ETF T | Trimmed | −22,200 | −$16.7M | 2.1% |
Showing the 10 largest of 244 changes.
quarter ended March 31, 2026 · filed May 08, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sprott Inc | Added | +2,522,590 | +$360M | 17.4% |
| PA Pan Amern Silver Corp | Added | +645,252 | +$35.3M | 2.3% |
| BM Barrick Mng Corp | Trimmed | −792,121 | −$32.3M | 1.9% |
| SM Ssr Mining In | Trimmed | −1,002,087 | −$29.5M | 0.6% |
| IT International Tower Hill Min | Trimmed | −9,831,150 | −$22.7M | 0.7% |
| IT Ishares Tr | Trimmed | −172,100 | −$16.4M | 0.4% |
| Viper Energy Inc | Added | +325,283 | +$15.3M | 0.9% |
| NG New Gold Inc Cda | Exited | −1,562,483 | −$13.6M | — |
| BH Berkshire Hathaway Inc Del | Exited | −26,112 | −$13.1M | — |
| SA Sprott Asset Management LP | Trimmed | −532,888 | −$13M | 1.2% |
Showing the 10 largest of 219 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BM Barrick Mng Corp | Added | +1,765,364 | +$76.9M | 3.5% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −72,600 | −$49.9M | 2.6% |
| PA Pan Amern Silver Corp | Trimmed | −711,843 | −$36.9M | 1.4% |
| ER Elemental Rty Corp | New | +1,875,676 | +$31.8M | 1.1% |
| CM Coeur Mng Inc | Trimmed | −1,727,676 | −$30.8M | 4.5% |
| Wheaton Precious Metals Corp | Trimmed | −257,981 | −$30.3M | 3.5% |
| ER Emx Rty Corp | Exited | −5,499,899 | −$28.3M | — |
| Agnico Eagle Mines Ltd | Trimmed | −147,960 | −$25.1M | 4.1% |
| First Majestic Silver Corp | Trimmed | −1,417,051 | −$23.6M | 0.3% |
| NG New Gold Inc Cda | Trimmed | −2,682,312 | −$23.4M | 0.5% |
Showing the 10 largest of 215 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| PA Pan Amern Silver Corp | Trimmed | −1,111,948 | −$43.1M | 2.0% |
| Sandstorm Gold Ltd | Trimmed | −3,020,638 | −$37.8M | 0.7% |
| SS SPDR S&P 500 ETF Tr | Added | +50,500 | +$33.8M | 4.4% |
| CD Compania De Minas Buenaventu | New | +1,054,139 | +$25.6M | 0.9% |
| NG New Gold Inc Cda | Added | +3,533,035 | +$25.4M | 1.1% |
| Or Royalties Inc | Trimmed | −606,835 | −$24.3M | 4.0% |
| Mag Silver Corp | Exited | −874,533 | −$18.5M | — |
| BM Barrick Mng Corp | Added | +505,887 | +$16.6M | 0.7% |
| FN Franco Nev Corp | Trimmed | −70,628 | −$15.7M | 1.9% |
| Agnico Eagle Mines Ltd | Trimmed | −91,474 | −$15.4M | 5.1% |
Showing the 10 largest of 209 changes.
quarter ended June 30, 2025 · filed August 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Or Royalties Inc. | New | +3,466,973 | +$89.2M | 4.2% |
| OG Osisko Gold Royalties Ltd | Exited | −3,240,773 | −$68.4M | — |
| SS SPDR Series Trust | Added | +625,804 | +$57.4M | 3.9% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −88,800 | −$54.9M | 4.0% |
| Mag Silver Corp | Trimmed | −1,415,390 | −$30M | 0.9% |
| Equinox Gold Corp | Added | +4,994,734 | +$28.8M | 2.6% |
| First Majestic Silver Corp | Trimmed | −3,271,616 | −$27.1M | 0.5% |
| N Newmont Corp | Trimmed | −398,032 | −$23.2M | 0.4% |
| Anglogold Ashanti PLC | Added | +450,333 | +$20.5M | 1.6% |
| CM Coeur Mng Inc | Trimmed | −2,293,198 | −$20.3M | 3.8% |
Showing the 10 largest of 202 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Silvercrest Metals Inc | Exited | −7,069,597 | −$64.4M | — |
| CM Coeur Mng Inc | Added | +10,180,102 | +$60.2M | 3.6% |
| Gatos Silver Inc | Exited | −2,501,110 | −$35M | — |
| First Majestic Silver Corp | Added | +3,957,459 | +$26.5M | 1.7% |
| Equinox Gold Corp | Trimmed | −3,114,901 | −$21.4M | 1.7% |
| IT Ishares Tr | Trimmed | −141,800 | −$12.4M | 0.1% |
| IS Ishares Silver Tr | New | +404,000 | +$11.3M | 0.6% |
| SS SPDR Ser Tr | Trimmed | −115,355 | −$10.6M | 1.4% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −17,000 | −$8.85M | 6.3% |
| Anglogold Ashanti PLC | Added | +212,341 | +$7.88M | 0.6% |
Showing the 10 largest of 173 changes.
quarter ended December 31, 2024 · filed February 04, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +65,700 | +$38.5M | 8.4% |
| SS SPDR Ser Tr | Added | +196,680 | +$18M | 2.1% |
| Gatos Silver Inc | Trimmed | −945,621 | −$13.2M | 2.1% |
| Wheaton Precious Metals Corp | Added | +224,980 | +$12.7M | 3.3% |
| CM Coeur Mng Inc | Trimmed | −1,914,963 | −$11M | 0.4% |
| Sandstorm Gold Ltd | Added | +1,955,916 | +$10.9M | 1.5% |
| BH Berkshire Hathaway Inc Del | Trimmed | −23,080 | −$10.5M | 1.5% |
| Silvercrest Metals Inc | Trimmed | −1,137,903 | −$10.4M | 3.8% |
| Gold Fields Ltd | Trimmed | −596,647 | −$7.88M | — |
| IT Ishares Tr | Added | +76,600 | +$7.08M | 1.0% |
Showing the 10 largest of 183 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Perpetua Resources Corp | New | +2,790,598 | +$26.1M | 1.7% |
| N Newmont Corp | Added | +293,857 | +$15.7M | 2.1% |
| Gold Fields Ltd | Trimmed | −896,516 | −$13.8M | 0.6% |
| Iamgold Corp | Added | +2,507,226 | +$13.1M | 2.1% |
| CM Coeur Mng Inc | Added | +1,485,192 | +$10.2M | 1.3% |
| SP Sprott Physical Gold & Silve | Trimmed | −320,000 | −$7.84M | 1.2% |
| Vizsla Silver Corp | Added | +3,560,967 | +$6.82M | 2.4% |
| Wheaton Precious Metals Corp | Added | +111,145 | +$6.79M | 3.0% |
| TF Triple Flag Precious Metal | Trimmed | −413,510 | −$6.69M | 0.9% |
| SS SPDR Ser Tr | Trimmed | −71,519 | −$6.57M | 1.2% |
Showing the 10 largest of 144 changes.
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