Orion Resource Partners LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Orion Resource Partners LP reported 24 stock positions worth $539.7 million. Its top holding was Sandstorm Gold (SAND) at 36.4% of the portfolio, followed by Allied Gold (AAUC, 19.2%) and Skeena Resources (SKE, 15.2%). Compared with Q1 2025, it opened 11 new positions, sold out of 5, added to 7 and reduced 3. The biggest buy was a new position in Allied Gold (AAUC) and the biggest sale Equinox Gold (EQX, shares −63%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0002032200
- Portfolio Value
- $539.7M (Q2 2025)
- SEC Filing
- 0000905148-25-002938 ↗ filed Aug 14, 2025
Holdings Value
Holdings 24 stocks · $539.7M
| SAND Sandstorm Gold Ltd. | 36.37% | 20,851,771 | $196.3M | Reduce 0.0% |
| AAUC Allied Gold Corp. | 19.20% | 7,714,312 | $103.6M | New |
| SKE Skeena Resources Ltd. | 15.18% | 5,147,840 | $81.9M | Reduce -33.3% |
| EQX Equinox Gold Corp. | 13.09% | 12,229,378 | $70.6M | Reduce -62.9% |
| DC Dakota Gold Corp. | 6.64% | 9,711,503 | $35.8M | No change |
| SLSR Solaris Resources Inc. | 4.63% | 5,454,201 | $25.0M | No change |
| IAUX I-80 Gold Corp. | 2.37% | 20,727,351 | $12.8M | No change |
| AU Anglogold Ashanti PLC | 0.25% | 29,784 | $1.3M | New |
| MOS The Mosaic Co. | 0.23% | 34,143 | $1.2M | New |
| UEC Uranium Energy Corp. | 0.23% | 181,214 | $1.2M | New |
| STLD Steel Dynamics Inc. | 0.18% | 7,559 | $968K | New |
| MEOH Methanex Corp. | 0.17% | 28,334 | $940K | Add +206.6% |
| UUUU Energy Fuels Inc. | 0.16% | 152,693 | $878K | Add +485.7% |
| FLR Fluor Corp. | 0.16% | 16,772 | $860K | New |
| CDE Coeur Mining Inc. | 0.16% | 96,720 | $857K | Add +468.0% |
| HBM Hudbay Minerals Inc. | 0.15% | 74,017 | $786K | Add +78.0% |
| ERO Ero Copper Corp. | 0.14% | 43,897 | $742K | New |
| LAR Lithium Argentina AG | 0.13% | 345,155 | $718K | Add +619.0% |
| FCX Freeport-McMoran Inc. | 0.13% | 16,417 | $712K | New |
| PDS Precision Drilling Corp. | 0.12% | 13,594 | $642K | New |
| CENX Century Aluminum Company | 0.11% | 34,147 | $615K | Add +204.8% |
| ASTL Algoma Steel Group Inc. | 0.07% | 53,193 | $368K | New |
| PPTA Perpetua Resources Corp. | 0.06% | 27,175 | $330K | New |
| CNL Collective Mining Ltd. | 0.05% | 27,011 | $296K | Add +114.9% |
Portfolio Sells Q1 2025 → Q2 2025
| EQX Equinox Gold Corp. | Reduce -62.9% | 13.09% | −30.06 |
| IE Ivanhoe Electric Inc. / US | Sold out | 0.00% | −0.98 |
| EXK Endeavour Silver Corp. | Sold out | 0.00% | −0.07 |
| VALE Vale SA-SP ADR | Sold out | 0.00% | −0.06 |
| MAG Mag Silver Corp. | Sold out | 0.00% | −0.05 |
| CLF Cleveland-Cliffs Inc. | Sold out | 0.00% | −0.03 |
| SKE Skeena Resources Ltd. | Reduce -33.3% | 15.18% | +0.37 |
| SAND Sandstorm Gold Ltd. | Reduce 0.0% | 36.37% | +6.49 |
Portfolio Buys Q1 2025 → Q2 2025
| AAUC Allied Gold Corp. | New | 19.20% | +19.20 |
| AU Anglogold Ashanti PLC | New | 0.25% | +0.25 |
| MOS The Mosaic Co. | New | 0.23% | +0.23 |
| UEC Uranium Energy Corp. | New | 0.23% | +0.23 |
| STLD Steel Dynamics Inc. | New | 0.18% | +0.18 |
| FLR Fluor Corp. | New | 0.16% | +0.16 |
| UUUU Energy Fuels Inc. | Add +485.7% | 0.16% | +0.14 |
| CDE Coeur Mining Inc. | Add +468.0% | 0.16% | +0.14 |
| ERO Ero Copper Corp. | New | 0.14% | +0.14 |
| FCX Freeport-McMoran Inc. | New | 0.13% | +0.13 |
| PDS Precision Drilling Corp. | New | 0.12% | +0.12 |
| LAR Lithium Argentina AG | Add +619.0% | 0.13% | +0.11 |
| MEOH Methanex Corp. | Add +206.6% | 0.17% | +0.11 |
| HBM Hudbay Minerals Inc. | Add +78.0% | 0.15% | +0.09 |
| CENX Century Aluminum Company | Add +204.8% | 0.11% | +0.07 |
| ASTL Algoma Steel Group Inc. | New | 0.07% | +0.07 |
| PPTA Perpetua Resources Corp. | New | 0.06% | +0.06 |
| CNL Collective Mining Ltd. | Add +114.9% | 0.05% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 24 | $219.4M | SKE, SLSR, DC, VMET, SQM |
| Q1 2026 | 20 | $218.9M | SKE, SLSR, DC, IAUX, SQM |
| Q4 2025 | 21 | $203.3M | SKE, SLSR, DC, IAUX, MEOH |
| Q3 2025 | 27 | $275.2M | AAUC, SKE, SLSR, DC, IAUX |
| Q2 2025 | 24 | $539.7M | SAND, AAUC, SKE, EQX, DC |
| Q1 2025 | 18 | $525.6M | EQX, SAND, SKE, DC, SLSR |
| Q4 2024Amended | 19 | $507.0M | EQX, SAND, SKE, DC, SLSR |
| Q3 2024Amended | 18 | $751.9M | SAND, EQX, SKE, IAUX, DC |
| Q2 2024 | 18 | $661.7M | SAND, EQX, SKE, IAUX, IE |
| Q1 2024 | 3 | $405K | HBM, MAG, EAF |