Euro Pacific Asset Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 7, 2024), Euro Pacific Asset Management, LLC reported 72 stock positions worth $491.4 million. Its top holding was Agnico Eagle Mines (AEM) at 7.5% of the portfolio, followed by Barrick Gold (B, 6.8%) and Franco-Nevada (FNV, 5.4%). Compared with Q4 2023, it opened 5 new positions, sold out of 1, added to 29 and reduced 36. The biggest buy was Franco-Nevada (FNV, shares +73%) and the biggest sale Unilever (UL, shares −13%).
- Most Recent 13F
- Q2 2026
- Location
- DORADO, PR
- CIK
- 0001796651
- Portfolio Value
- $491.4M (Q1 2024)
- SEC Filing
- 0001796651-24-000005 ↗ filed May 7, 2024
Holdings Value
Holdings 72 stocks · $491.4M
| AEM Agnico Eagle Mines Ltd. | 7.51% | 613,974 | $36.9M | Add +7.3% |
| B Barrick Gold Corp. | 6.84% | 1,982,666 | $33.6M | Add +7.3% |
| FNV Franco-Nevada Corp. | 5.44% | 223,877 | $26.8M | Add +72.5% |
| PAAS Pan American Silver Corp. | 4.45% | 1,400,631 | $21.9M | Add +0.4% |
| BTI British American Tob-SP ADR | 4.04% | 656,266 | $19.8M | Add +6.6% |
| OR Osisko Gold Royalties Ltd. | 3.91% | 1,172,278 | $19.2M | Add +0.1% |
| FSM Fortuna Silver Mines Inc. | 3.54% | 4,590,002 | $17.4M | Add +0.6% |
| WPM Wheaton Precious Metals Corp. | 3.19% | 331,533 | $15.7M | Add +0.2% |
| NEM Newmont Corp. | 3.05% | 396,751 | $15.0M | Add +30.7% |
| BP BP PLC-Spons ADR | 3.00% | 383,882 | $14.7M | Reduce -1.8% |
| RGLD Royal Gold Inc. | 2.93% | 118,283 | $14.4M | Add +2.0% |
| PM Philip Morris International | 2.79% | 150,718 | $13.7M | Reduce -3.1% |
| EQX Equinox Gold Corp. | 2.76% | 2,252,089 | $13.6M | Reduce -0.2% |
| SHEL Shell PLC-ADR | 2.68% | 186,415 | $13.2M | Reduce -12.9% |
| BTG B2GOLD Corp. | 2.65% | 4,963,971 | $13.0M | Add +14.2% |
| UL Unilever PLC | 2.63% | 263,880 | $12.9M | Reduce -12.6% |
| TTE Totalenergies SE -Spon ADR | 2.61% | 177,233 | $12.8M | Reduce -1.8% |
| NVO Novo-Nordisk A/S-Spons ADR | 2.56% | 98,484 | $12.6M | Reduce -21.4% |
| MTA Metalla Royalty & Streaming | 2.56% | 4,028,487 | $12.6M | Add +18.6% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 2.52% | 241,967 | $12.4M | Reduce -0.1% |
| IAUX I-80 Gold Corp. | 2.07% | 7,747,765 | $10.2M | Add +39.0% |
| KGC Kinross Gold Corp. | 2.07% | 1,616,267 | $10.2M | Add +2.0% |
| GSK GSK PLC-Spon ADR | 1.95% | 227,789 | $9.6M | Reduce -2.7% |
| NVS Novartis AG-Sponsored ADR | 1.95% | 99,366 | $9.6M | Reduce -9.2% |
| IAG Iamgold Corp. | 1.87% | 2,741,575 | $9.2M | Add +0.5% |
| OUNZ Vaneck Merk Gold ETF | 1.75% | 397,164 | $8.6M | Add +14.5% |
| ABEV Ambev SA-ADR | 1.69% | 3,385,447 | $8.3M | Reduce -2.8% |
| EQNR Equinor ASA-Spon ADR | 1.63% | 287,648 | $8.0M | Reduce -0.4% |
| CEF Sprott Physical Gold and Sil | 1.56% | 349,244 | $7.7M | Reduce -3.1% |
| NTR Nutrien Ltd. | 1.27% | 112,927 | $6.2M | Reduce -2.5% |
| TFPM Triple Flag Precious Met | 1.23% | 419,635 | $6.1M | No change |
| SILV Silvercrest Metals Inc. | 0.81% | 599,901 | $4.0M | Add +1.9% |
| BBD Banco Bradesco-ADR | 0.74% | 1,277,106 | $3.7M | Reduce -4.2% |
| AGI Alamos Gold Inc. Class A | 0.74% | 245,529 | $3.6M | Add +0.6% |
| FEMB First Trust Emerging Markets | 0.67% | 114,450 | $3.3M | Add +6.0% |
| CCU Cia Cervecerias Uni-Spon ADR filed as COMPANIA CERVECERIAS UNIDAS | 0.54% | 220,211 | $2.7M | Reduce -3.9% |
| BCE Bce Inc. | 0.51% | 75,223 | $2.5M | Reduce -4.3% |
| AQN Algonquin Power & Utilities | 0.47% | 361,115 | $2.3M | Reduce -0.2% |
| EMX Emx Royalty Corp. filed as EMX RTY CORP | 0.45% | 3,967,056 | $2.2M | Reduce -26.9% |
| IGOV iShares International Treasu | 0.39% | 47,663 | $1.9M | Add +6.7% |
| SKM SK Telecom Co. Ltd.-Spon ADR | 0.34% | 78,137 | $1.7M | Reduce -6.9% |
| PSLV Sprott Physical Silver Trust | 0.34% | 198,482 | $1.7M | Reduce -0.7% |
| NTES Netease Inc.-ADR | 0.26% | 12,586 | $1.3M | Reduce -2.8% |
| BWX SS SPDR BB Intl Treasury BD | 0.25% | 54,880 | $1.2M | Add +7.1% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.25% | 174,079 | $1.2M | Reduce -0.5% |
| IE Ivanhoe Electric Inc. / US | 0.24% | 121,112 | $1.2M | New |
| DEO Diageo PLC-Sponsored ADR | 0.24% | 8,149 | $1.2M | Reduce -0.4% |
| AU Anglogold Ashanti PLC | 0.20% | 44,934 | $998K | Reduce -40.1% |
| HLN Haleon PLC-ADR | 0.17% | 101,590 | $838K | Reduce -3.5% |
| DC Dakota Gold Corp. | 0.15% | 312,823 | $757K | Add +3.0% |
| VALE Vale SA-SP ADR | 0.15% | 60,502 | $745K | Add +35.4% |
| INFY Infosys Ltd.-SP ADR | 0.15% | 40,186 | $725K | Add +1.7% |
| PHYS Sprott Physical Gold Trust | 0.14% | 48,399 | $694K | Reduce -7.5% |
| SA Seabridge Gold Inc. | 0.13% | 41,119 | $635K | Add +204.6% |
| VOD Vodafone Group PLC-SP ADR | 0.11% | 57,875 | $522K | Reduce -4.1% |
| MELI MercadoLibre Inc. | 0.09% | 302 | $459K | Reduce -45.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.09% | 3,127 | $450K | Reduce -7.0% |
| SAP Sap SE-Sponsored ADR | 0.08% | 2,028 | $411K | Reduce -18.8% |
| GDX Vaneck Gold Miners ETF | 0.07% | 10,501 | $349K | Add +7.1% |
| AG First Majestic Silver Corp. | 0.07% | 43,018 | $323K | Reduce -10.8% |
| CNI Canadian Natl Railway Co. | 0.07% | 2,372 | $321K | Add +28.8% |
| RIO Rio Tinto PLC-Spon ADR | 0.07% | 4,843 | $321K | New |
| ENB Enbridge Inc. | 0.05% | 7,330 | $258K | New |
| XOM Exxon Mobil Corp. | 0.05% | 2,202 | $257K | New |
| GFI Gold Fields Ltd.-Spons ADR | 0.04% | 12,033 | $195K | Reduce -92.9% |
| KT KT Corp.-SP ADR | 0.04% | 13,097 | $193K | Reduce -7.0% |
| T AT&T Inc. | 0.04% | 10,931 | $192K | New |
| VIV Telefonica Brasil-ADR | 0.03% | 12,360 | $128K | Reduce -0.9% |
| CX Cemex Sab-Spons ADR Part Cer | 0.02% | 11,582 | $108K | Add +0.6% |
| VGZ Vista Gold Corp. | 0.02% | 170,059 | $96K | Reduce -92.8% |
| WIT Wipro Ltd.-ADR | 0.02% | 13,845 | $82K | Add +6.7% |
| EXK Endeavour Silver Corp. | 0.02% | 27,520 | $79K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| UL Unilever PLC | Reduce -12.6% | 2.63% | −0.50 |
| GFI Gold Fields Ltd.-Spons ADR | Reduce -92.9% | 0.04% | −0.49 |
| EMX Emx Royalty Corp. | Reduce -26.9% | 0.45% | −0.46 |
| NVS Novartis AG-Sponsored ADR | Reduce -9.2% | 1.95% | −0.43 |
| ABEV Ambev SA-ADR | Reduce -2.8% | 1.69% | −0.39 |
| PM Philip Morris International | Reduce -3.1% | 2.79% | −0.37 |
| SHEL Shell PLC-ADR | Reduce -12.9% | 2.68% | −0.35 |
| EQNR Equinor ASA-Spon ADR | Reduce -0.4% | 1.63% | −0.33 |
| BBD Banco Bradesco-ADR | Reduce -4.2% | 0.74% | −0.25 |
| VGZ Vista Gold Corp. | Reduce -92.8% | 0.02% | −0.21 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -21.4% | 2.56% | −0.19 |
| BCE Bce Inc. | Reduce -4.3% | 0.51% | −0.17 |
| NTR Nutrien Ltd. | Reduce -2.5% | 1.27% | −0.14 |
| AU Anglogold Ashanti PLC | Reduce -40.1% | 0.20% | −0.10 |
| MELI MercadoLibre Inc. | Reduce -45.1% | 0.09% | −0.09 |
| CCU Cia Cervecerias Uni-Spon ADR | Reduce -3.9% | 0.54% | −0.08 |
| SKM SK Telecom Co. Ltd.-Spon ADR | Reduce -6.9% | 0.34% | −0.04 |
| PHYS Sprott Physical Gold Trust | Reduce -7.5% | 0.14% | −0.04 |
| AQN Algonquin Power & Utilities | Reduce -0.2% | 0.47% | −0.02 |
| HLN Haleon PLC-ADR | Reduce -3.5% | 0.17% | −0.02 |
| ITUB Itau Unibanco H-Spon PRF ADR | Reduce -0.5% | 0.25% | −0.02 |
| DEO Diageo PLC-Sponsored ADR | Reduce -0.4% | 0.24% | −0.01 |
| TTE Totalenergies SE -Spon ADR | Reduce -1.8% | 2.61% | −0.01 |
| VOD Vodafone Group PLC-SP ADR | Reduce -4.1% | 0.11% | −0.01 |
| PSLV Sprott Physical Silver Trust | Reduce -0.7% | 0.34% | −0.00 |
| KT KT Corp.-SP ADR | Reduce -7.0% | 0.04% | −0.00 |
| VIV Telefonica Brasil-ADR | Reduce -0.9% | 0.03% | −0.00 |
| SAP Sap SE-Sponsored ADR | Reduce -18.8% | 0.08% | −0.00 |
| VOXR Vox Royalty Corp. | Sold out | 0.00% | 0.00 |
| AG First Majestic Silver Corp. | Reduce -10.8% | 0.07% | +0.00 |
| NTES Netease Inc.-ADR | Reduce -2.8% | 0.26% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -7.0% | 0.09% | +0.01 |
| BNS Bank of Nova Scotia | Reduce -0.1% | 2.52% | +0.02 |
| BP BP PLC-Spons ADR | Reduce -1.8% | 3.00% | +0.02 |
| GSK GSK PLC-Spon ADR | Reduce -2.7% | 1.95% | +0.08 |
| CEF Sprott Physical Gold and Sil | Reduce -3.1% | 1.56% | +0.09 |
| EQX Equinox Gold Corp. | Reduce -0.2% | 2.76% | +0.42 |
Portfolio Buys Q4 2023 → Q1 2024
| FNV Franco-Nevada Corp. | Add +72.5% | 5.44% | +2.37 |
| AEM Agnico Eagle Mines Ltd. | Add +7.3% | 7.51% | +0.82 |
| IAG Iamgold Corp. | Add +0.5% | 1.87% | +0.39 |
| NEM Newmont Corp. | Add +30.7% | 3.05% | +0.37 |
| OR Osisko Gold Royalties Ltd. | Add +0.1% | 3.91% | +0.35 |
| MTA Metalla Royalty & Streaming | Add +18.6% | 2.56% | +0.34 |
| OUNZ Vaneck Merk Gold ETF | Add +14.5% | 1.75% | +0.26 |
| IE Ivanhoe Electric Inc. / US | New | 0.24% | +0.24 |
| BTI British American Tob-SP ADR | Add +6.6% | 4.04% | +0.14 |
| SA Seabridge Gold Inc. | Add +204.6% | 0.13% | +0.09 |
| RIO Rio Tinto PLC-Spon ADR | New | 0.07% | +0.07 |
| ENB Enbridge Inc. | New | 0.05% | +0.05 |
| XOM Exxon Mobil Corp. | New | 0.05% | +0.05 |
| T AT&T Inc. | New | 0.04% | +0.04 |
| AGI Alamos Gold Inc. Class A | Add +0.6% | 0.74% | +0.04 |
| KGC Kinross Gold Corp. | Add +2.0% | 2.07% | +0.03 |
| CNI Canadian Natl Railway Co. | Add +28.8% | 0.07% | +0.01 |
| GDX Vaneck Gold Miners ETF | Add +7.1% | 0.07% | +0.01 |
| CX Cemex Sab-Spons ADR Part Cer | Add +0.6% | 0.02% | +0.00 |
| WIT Wipro Ltd.-ADR | Add +6.7% | 0.02% | +0.00 |
| VALE Vale SA-SP ADR | Add +35.4% | 0.15% | −0.00 |
| BWX SS SPDR BB Intl Treasury BD | Add +7.1% | 0.25% | −0.01 |
| INFY Infosys Ltd.-SP ADR | Add +1.7% | 0.15% | −0.01 |
| IGOV iShares International Treasu | Add +6.7% | 0.39% | −0.01 |
| SILV Silvercrest Metals Inc. | Add +1.9% | 0.81% | −0.01 |
| DC Dakota Gold Corp. | Add +3.0% | 0.15% | −0.02 |
| FEMB First Trust Emerging Markets | Add +6.0% | 0.67% | −0.02 |
| IAUX I-80 Gold Corp. | Add +39.0% | 2.07% | −0.03 |
| RGLD Royal Gold Inc. | Add +2.0% | 2.93% | −0.06 |
| FSM Fortuna Silver Mines Inc. | Add +0.6% | 3.54% | −0.22 |
| BTG B2GOLD Corp. | Add +14.2% | 2.65% | −0.28 |
| B Barrick Gold Corp. | Add +7.3% | 6.84% | −0.29 |
| WPM Wheaton Precious Metals Corp. | Add +0.2% | 3.19% | −0.29 |
| PAAS Pan American Silver Corp. | Add +0.4% | 4.45% | −0.41 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 96 | $879.5M | AEM, B, FNV, PAAS, MTA |
| Q1 2026 | 96 | $1.0B | AEM, PAAS, B, FNV, FSM |
| Q4 2025Amended | 93 | $900.9M | AEM, B, PAAS, FNV, MTA |
| Q3 2025 | 89 | $828.7M | AEM, B, PAAS, FNV, OR |
| Q2 2025Amended | 84 | $619.9M | AEM, B, PAAS, FNV, BTI |
| Q1 2025 | 79 | $551.1M | AEM, B, FNV, PAAS, BTI |
| Q4 2024 | 71 | $463.9M | AEM, B, PAAS, FNV, BTI |
| Q3 2024 | 75 | $542.5M | AEM, B, PAAS, FNV, BTI |
| Q2 2024 | 68 | $504.8M | AEM, B, PAAS, FNV, FSM |
| Q1 2024 | 72 | $491.4M | AEM, B, FNV, PAAS, BTI |