Euro Pacific Asset Management, LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 6, 2024), Euro Pacific Asset Management, LLC reported 75 stock positions worth $542.5 million. Its top holding was Agnico Eagle Mines (AEM) at 8.8% of the portfolio, followed by Barrick Gold (B, 7.4%) and Pan American Silver (PAAS, 5.3%). Compared with Q2 2024, it opened 7 new positions, added to 14 and reduced 52. The biggest buy was a new position in Yum China (YUMC) and the biggest sale Philip Morris International (PM, shares −35%).
- Most Recent 13F
- Q2 2026
- Location
- DORADO, PR
- CIK
- 0001796651
- Portfolio Value
- $542.5M (Q3 2024)
- SEC Filing
- 0001796651-24-000008 ↗ filed Nov 6, 2024
Holdings Value
Holdings 75 stocks · $542.5M
| AEM Agnico Eagle Mines Ltd. | 8.82% | 592,867 | $47.8M | Reduce -2.8% |
| B Barrick Gold Corp. | 7.36% | 1,998,118 | $39.9M | Reduce -0.8% |
| PAAS Pan American Silver Corp. | 5.30% | 1,371,738 | $28.8M | Reduce -0.4% |
| FNV Franco-Nevada Corp. | 5.11% | 223,179 | $27.7M | Reduce -0.8% |
| BTI British American Tob-SP ADR | 4.52% | 669,101 | $24.5M | Reduce -0.5% |
| OR Osisko Gold Royalties Ltd. | 3.95% | 1,158,745 | $21.4M | Reduce -1.1% |
| FSM Fortuna Mining Corp. | 3.68% | 4,314,683 | $20.0M | Reduce -0.2% |
| NEM Newmont Corp. | 3.54% | 356,136 | $19.2M | Reduce -1.9% |
| WPM Wheaton Precious Metals Corp. | 3.45% | 306,405 | $18.7M | Reduce -4.7% |
| BTG B2GOLD Corp. | 3.20% | 5,631,472 | $17.4M | Add +1.7% |
| EQX Equinox Gold Corp. | 3.10% | 2,759,990 | $16.8M | Reduce -0.5% |
| RGLD Royal Gold Inc. | 3.08% | 119,266 | $16.7M | Reduce -0.5% |
| UL Unilever PLC | 3.06% | 255,844 | $16.6M | Reduce -1.9% |
| MTA Metalla Royalty & Streaming | 2.59% | 4,550,960 | $14.0M | Add +3.0% |
| KGC Kinross Gold Corp. | 2.42% | 1,388,343 | $13.1M | Reduce -4.5% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 2.39% | 237,530 | $13.0M | Reduce -0.7% |
| SHEL Shell PLC-ADR | 2.20% | 179,259 | $11.9M | Reduce -1.6% |
| BP BP PLC-Spons ADR | 2.20% | 375,889 | $11.9M | Reduce -0.8% |
| PM Philip Morris International | 2.16% | 96,527 | $11.7M | Reduce -35.0% |
| TTE Totalenergies SE -Spon ADR | 2.08% | 172,917 | $11.3M | Reduce -1.5% |
| IAUX I-80 Gold Corp. | 2.08% | 9,764,079 | $11.3M | Reduce -0.1% |
| NVS Novartis AG-Sponsored ADR | 2.06% | 97,224 | $11.2M | Reduce -1.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 2.05% | 94,210 | $11.1M | Reduce -2.2% |
| OUNZ Vaneck Merk Gold ETF | 1.95% | 414,919 | $10.6M | Add +3.6% |
| IAG Iamgold Corp. | 1.86% | 1,924,836 | $10.1M | Reduce -22.9% |
| GSK GSK PLC-Spon ADR | 1.64% | 217,886 | $8.9M | Reduce -1.5% |
| CEF Sprott Physical Gold and Sil | 1.54% | 335,719 | $8.3M | Reduce -2.0% |
| ABEV Ambev SA-ADR | 1.50% | 3,281,846 | $8.1M | Reduce -2.0% |
| EQNR Equinor ASA-Spon ADR | 1.33% | 280,713 | $7.2M | Reduce -1.4% |
| NTR Nutrien Ltd. | 0.98% | 110,118 | $5.3M | Reduce -1.5% |
| SILV Silvercrest Metals Inc. | 0.83% | 488,458 | $4.5M | Reduce -16.8% |
| FEMB First Trust Emerging Markets | 0.63% | 116,432 | $3.4M | Reduce -0.6% |
| AU Anglogold Ashanti PLC | 0.58% | 117,978 | $3.1M | Reduce -14.0% |
| TFPM Triple Flag Precious Met | 0.48% | 161,813 | $2.6M | Reduce -52.7% |
| BCE Bce Inc. | 0.47% | 73,411 | $2.6M | Reduce -0.5% |
| PSLV Sprott Physical Silver Trust | 0.44% | 231,698 | $2.4M | Add +9.2% |
| IGOV iShares International Treasu | 0.38% | 48,555 | $2.0M | Reduce -0.6% |
| AQN Algonquin Power & Utilities | 0.36% | 354,781 | $1.9M | Reduce -2.4% |
| SKM SK Telecom Co. Ltd.-Spon ADR | 0.33% | 74,817 | $1.8M | Reduce -1.1% |
| YUMC Yum China Holdings Inc. | 0.30% | 36,517 | $1.6M | New |
| BBD Banco Bradesco-ADR | 0.29% | 583,957 | $1.6M | Reduce -54.2% |
| INFY Infosys Ltd.-SP ADR | 0.28% | 67,326 | $1.5M | Reduce -40.7% |
| IE Ivanhoe Electric Inc. / US | 0.26% | 165,472 | $1.4M | Add +26.1% |
| BWX SS SPDR BB Intl Treasury BD | 0.24% | 56,107 | $1.3M | Reduce -0.5% |
| DEO Diageo PLC-Sponsored ADR | 0.23% | 8,803 | $1.2M | Add +5.4% |
| NTES Netease Inc.-ADR | 0.22% | 12,964 | $1.2M | Add +3.8% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.21% | 173,328 | $1.2M | Reduce -0.2% |
| HLN Haleon PLC-ADR | 0.19% | 96,917 | $1.0M | Reduce -1.9% |
| DC Dakota Gold Corp. | 0.17% | 389,320 | $923K | Add +25.8% |
| PHYS Sprott Physical Gold Trust | 0.16% | 43,608 | $856K | Reduce -9.9% |
| WRN Western Copper and Gold Corp. | 0.15% | 695,500 | $828K | New |
| VALE Vale SA-SP ADR | 0.14% | 64,725 | $759K | Reduce -0.3% |
| MELI MercadoLibre Inc. | 0.11% | 293 | $604K | No change |
| VWOB Vanguard Emerg MKTS Gov BND | 0.11% | 8,785 | $581K | New |
| TSM Taiwan Semiconductor-SP ADR | 0.11% | 3,310 | $577K | Reduce -1.9% |
| PSK SS SPDR Ice Pref Sec ETF | 0.10% | 15,965 | $566K | New |
| USHY iShares Broad Usd High Yield | 0.10% | 14,875 | $557K | New |
| JAAA Janus Henderson Aaa Clo ETF | 0.10% | 10,985 | $556K | New |
| USFR Wisdomtree Floating Rate Tre | 0.10% | 10,976 | $551K | Add +20.7% |
| VOD Vodafone Group PLC-SP ADR | 0.09% | 49,580 | $498K | Reduce -4.4% |
| GDX Vaneck Gold Miners ETF | 0.09% | 11,710 | $471K | Add +30.0% |
| ENB Enbridge Inc. | 0.08% | 10,140 | $417K | Add +3.1% |
| SAP Sap SE-Sponsored ADR | 0.07% | 1,743 | $399K | Reduce -7.1% |
| RIO Rio Tinto PLC-Spon ADR | 0.06% | 4,879 | $347K | Add +0.8% |
| AG First Majestic Silver Corp. | 0.05% | 41,211 | $251K | Add +14.4% |
| AGI Alamos Gold Inc. Class A | 0.05% | 12,335 | $246K | Reduce -0.7% |
| OHI Omega Healthcare Investors | 0.04% | 5,800 | $236K | New |
| GFI Gold Fields Ltd.-Spons ADR | 0.04% | 13,696 | $213K | Reduce -1.1% |
| ET Energy Transfer LP | 0.04% | 13,210 | $212K | Add +3.9% |
| KT KT Corp.-SP ADR | 0.03% | 11,961 | $189K | Reduce -7.2% |
| EMX Emx Royalty Corp. filed as EMX RTY CORP | 0.03% | 1,784,546 | $185K | Reduce -20.1% |
| VIV Telefonica Brasil-ADR | 0.02% | 12,234 | $129K | Reduce -1.4% |
| EXK Endeavour Silver Corp. | 0.02% | 27,520 | $109K | No change |
| WIT Wipro Ltd.-ADR | 0.02% | 12,359 | $83K | Reduce -2.7% |
| CX Cemex Sab-Spons ADR Part Cer | 0.01% | 11,183 | $70K | Reduce -2.0% |
Portfolio Sells Q2 2024 → Q3 2024
| PM Philip Morris International | Reduce -35.0% | 2.16% | −0.83 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -2.2% | 2.05% | −0.70 |
| TFPM Triple Flag Precious Met | Reduce -52.7% | 0.48% | −0.57 |
| BP BP PLC-Spons ADR | Reduce -0.8% | 2.20% | −0.52 |
| FSM Fortuna Mining Corp. | Reduce -0.2% | 3.68% | −0.50 |
| SHEL Shell PLC-ADR | Reduce -1.6% | 2.20% | −0.42 |
| EQNR Equinor ASA-Spon ADR | Reduce -1.4% | 1.33% | −0.29 |
| BBD Banco Bradesco-ADR | Reduce -54.2% | 0.29% | −0.28 |
| TTE Totalenergies SE -Spon ADR | Reduce -1.5% | 2.08% | −0.28 |
| FNV Franco-Nevada Corp. | Reduce -0.8% | 5.11% | −0.18 |
| EMX Emx Royalty Corp. | Reduce -20.1% | 0.03% | −0.18 |
| NTR Nutrien Ltd. | Reduce -1.5% | 0.98% | −0.14 |
| INFY Infosys Ltd.-SP ADR | Reduce -40.7% | 0.28% | −0.14 |
| PAAS Pan American Silver Corp. | Reduce -0.4% | 5.30% | −0.13 |
| SILV Silvercrest Metals Inc. | Reduce -16.8% | 0.83% | −0.12 |
| AU Anglogold Ashanti PLC | Reduce -14.0% | 0.58% | −0.10 |
| AQN Algonquin Power & Utilities | Reduce -2.4% | 0.36% | −0.07 |
| GSK GSK PLC-Spon ADR | Reduce -1.5% | 1.64% | −0.06 |
| NVS Novartis AG-Sponsored ADR | Reduce -1.2% | 2.06% | −0.03 |
| FEMB First Trust Emerging Markets | Reduce -0.6% | 0.63% | −0.01 |
| PHYS Sprott Physical Gold Trust | Reduce -9.9% | 0.16% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -1.9% | 0.11% | −0.01 |
| VALE Vale SA-SP ADR | Reduce -0.3% | 0.14% | −0.00 |
| BCE Bce Inc. | Reduce -0.5% | 0.47% | −0.00 |
| IGOV iShares International Treasu | Reduce -0.6% | 0.38% | −0.00 |
| GFI Gold Fields Ltd.-Spons ADR | Reduce -1.1% | 0.04% | −0.00 |
| SAP Sap SE-Sponsored ADR | Reduce -7.1% | 0.07% | −0.00 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -2.0% | 0.01% | −0.00 |
| KT KT Corp.-SP ADR | Reduce -7.2% | 0.03% | −0.00 |
| WIT Wipro Ltd.-ADR | Reduce -2.7% | 0.02% | −0.00 |
| BWX SS SPDR BB Intl Treasury BD | Reduce -0.5% | 0.24% | −0.00 |
| VOD Vodafone Group PLC-SP ADR | Reduce -4.4% | 0.09% | +0.00 |
| VIV Telefonica Brasil-ADR | Reduce -1.4% | 0.02% | +0.00 |
| IAG Iamgold Corp. | Reduce -22.9% | 1.86% | +0.00 |
| AGI Alamos Gold Inc. Class A | Reduce -0.7% | 0.05% | +0.01 |
| ITUB Itau Unibanco H-Spon PRF ADR | Reduce -0.2% | 0.21% | +0.01 |
| SKM SK Telecom Co. Ltd.-Spon ADR | Reduce -1.1% | 0.33% | +0.01 |
| KGC Kinross Gold Corp. | Reduce -4.5% | 2.42% | +0.02 |
| HLN Haleon PLC-ADR | Reduce -1.9% | 0.19% | +0.03 |
| CEF Sprott Physical Gold and Sil | Reduce -2.0% | 1.54% | +0.04 |
| IAUX I-80 Gold Corp. | Reduce -0.1% | 2.08% | +0.05 |
| WPM Wheaton Precious Metals Corp. | Reduce -4.7% | 3.45% | +0.10 |
| RGLD Royal Gold Inc. | Reduce -0.5% | 3.08% | +0.11 |
| ABEV Ambev SA-ADR | Reduce -2.0% | 1.50% | +0.13 |
| UL Unilever PLC | Reduce -1.9% | 3.06% | +0.20 |
| BNS Bank of Nova Scotia | Reduce -0.7% | 2.39% | +0.22 |
| EQX Equinox Gold Corp. | Reduce -0.5% | 3.10% | +0.23 |
| OR Osisko Gold Royalties Ltd. | Reduce -1.1% | 3.95% | +0.34 |
| BTI British American Tob-SP ADR | Reduce -0.5% | 4.52% | +0.37 |
| NEM Newmont Corp. | Reduce -1.9% | 3.54% | +0.53 |
Portfolio Buys Q2 2024 → Q3 2024
| YUMC Yum China Holdings Inc. | New | 0.30% | +0.30 |
| BTG B2GOLD Corp. | Add +1.7% | 3.20% | +0.24 |
| MTA Metalla Royalty & Streaming | Add +3.0% | 2.59% | +0.17 |
| WRN Western Copper and Gold Corp. | New | 0.15% | +0.15 |
| OUNZ Vaneck Merk Gold ETF | Add +3.6% | 1.95% | +0.15 |
| VWOB Vanguard Emerg MKTS Gov BND | New | 0.11% | +0.11 |
| PSK SS SPDR Ice Pref Sec ETF | New | 0.10% | +0.10 |
| USHY iShares Broad Usd High Yield | New | 0.10% | +0.10 |
| JAAA Janus Henderson Aaa Clo ETF | New | 0.10% | +0.10 |
| OHI Omega Healthcare Investors | New | 0.04% | +0.04 |
| PSLV Sprott Physical Silver Trust | Add +9.2% | 0.44% | +0.03 |
| GDX Vaneck Gold Miners ETF | Add +30.0% | 0.09% | +0.03 |
| DEO Diageo PLC-Sponsored ADR | Add +5.4% | 0.23% | +0.02 |
| IE Ivanhoe Electric Inc. / US | Add +26.1% | 0.26% | +0.01 |
| DC Dakota Gold Corp. | Add +25.8% | 0.17% | +0.01 |
| USFR Wisdomtree Floating Rate Tre | Add +20.7% | 0.10% | +0.01 |
| ENB Enbridge Inc. | Add +3.1% | 0.08% | +0.01 |
| AG First Majestic Silver Corp. | Add +14.4% | 0.05% | +0.00 |
| RIO Rio Tinto PLC-Spon ADR | Add +0.8% | 0.06% | −0.00 |
| ET Energy Transfer LP | Add +3.9% | 0.04% | −0.00 |
| NTES Netease Inc.-ADR | Add +3.8% | 0.22% | −0.01 |
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 |