Sprott Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Sprott Inc. reported 192 stock positions worth $2.0 billion. Its top holding was Agnico Eagle Mines (AEM) at 5.7% of the portfolio, followed by Sprott Focus Trust (FUND, 5.6%) and Sprott (SII, 5.5%). Compared with Q1 2025, it opened 23 new positions, sold out of 18, added to 80 and reduced 66. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +225%) and the biggest sale First Majestic Silver (AG, shares −71%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001512920
Portfolio Value
$2.0B (Q2 2025)
SEC Filing
0001512920-25-000007 ↗ filed Aug 11, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $1.4B Q1 2024 Q2 2024: $1.3B Q2 2024 Q3 2024: $1.6B Q3 2024 Q4 2024: $1.5B Q4 2024 Q1 2025: $1.7B Q1 2025 Q2 2025: $2.0B $2.0B Q2 2025 Q3 2025: $2.7B Q3 2025 Q4 2025: $2.8B Q4 2025 Q1 2026: $3.3B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 192 stocks · $2.0B

AEM Agnico Eagle Mines Ltd. 5.71% 957,453 $114.0M Reduce -10.8%
FUND Sprott Focus Trust Inc. 5.64% 15,079,327 $112.8M Add +1.0%
SII Sprott Inc. 5.48% 1,586,481 $109.6M Add +0.1%
WPM Wheaton Precious Metals Corp. 5.03% 1,118,810 $100.6M Add +10.2%
OR Or Royalties Inc. 4.46% 3,466,973 $89.2M Add +7.0%
BIL SS SPDR BB 1-3M T-Bill ETF 4.15% 904,458 $83.0M Add +224.6%
CDE Coeur Mining Inc. 4.00% 9,031,658 $80.0M Reduce -20.3%
PAAS Pan American Silver Corp. 3.70% 2,604,875 $74.0M Reduce -11.7%
VZLA Vizsla Silver Corp. 3.33% 22,544,153 $66.5M Reduce -4.9%
EQX Equinox Gold Corp. 2.72% 9,439,892 $54.4M Add +112.4%
IAG Iamgold Corp. 2.66% 7,221,729 $53.1M Add +21.3%
FNV Franco-Nevada Corp. 2.55% 311,133 $51.0M Add +31.8%
PHYS Sprott Physical Gold Trust 2.46% 1,942,429 $49.2M Reduce -2.3%
AGI Alamos Gold Inc. Class A 2.46% 1,847,761 $49.1M Reduce -17.0%
SAND Sandstorm Gold Ltd. 2.14% 4,543,804 $42.7M Reduce -14.0%
KGC Kinross Gold Corp. 2.10% 2,690,156 $42.0M Reduce -8.3%
EGO Eldorado Gold Corp. 1.89% 1,857,365 $37.8M Add +115.6%
AU Anglogold Ashanti PLC 1.72% 753,842 $34.4M Add +148.4%
PPTA Perpetua Resources Corp. 1.70% 2,793,345 $33.9M Reduce -17.7%
IAUX I-80 Gold Corp. 1.30% 42,060,618 $25.9M Add +113.5%
NUE Nucor Corp. 1.29% 199,275 $25.8M Add +0.3%
XOM Exxon Mobil Corp. 1.28% 237,698 $25.6M Add +1.2%
FHI Federated Hermes Inc. 1.21% 544,175 $24.1M Reduce -4.0%
PSLV Sprott Physical Silver Trust 1.15% 1,871,227 $22.9M Reduce -2.3%
SSRM SSR Mining Inc. 1.04% 1,633,510 $20.8M Add +325.4%
CEF Sprott Physical Gold and Sil 1.04% 688,251 $20.7M Add +0.1%
CALM Cal-Maine Foods Inc. 0.98% 196,410 $19.6M Add +49.0%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.94% 203,860 $18.8M Add +2.8%
MAG Mag Silver Corp. 0.93% 874,533 $18.5M Reduce -61.8%
TFPM Triple Flag Precious Met 0.92% 775,230 $18.4M Reduce -1.5%
SKE Skeena Resources Ltd. 0.91% 1,142,223 $18.2M Add +6.1%
BRK.B Berkshire Hathaway Inc. Class B 0.90% 37,045 $18.0M Reduce -11.1%
THM Intl Tower Hill Mines Ltd. filed as INTERNATIONAL TOWER HILL MIN 0.85% 19,778,015 $17.0M Reduce -8.5%
APAM Artisan Partners Asset Ma -A 0.81% 364,595 $16.2M Reduce -1.4%
HP Helmerich & Payne 0.74% 977,008 $14.8M Add +42.8%
EXK Endeavour Silver Corp. 0.71% 2,896,789 $14.3M Add +33.4%
EMX Emx Royalty Corp. filed as EMX RTY CORP 0.71% 5,630,863 $14.2M Add +208.0%
ERO Ero Copper Corp. 0.65% 769,385 $13.0M Add +2.8%
RS Reliance Inc. 0.64% 40,560 $12.7M Reduce -2.4%
SLSR Solaris Resources Inc. 0.63% 2,763,454 $12.7M Reduce -0.7%
RGLD Royal Gold Inc. 0.59% 66,035 $11.7M Add +0.3%
STLD Steel Dynamics Inc. 0.57% 88,500 $11.3M Reduce -5.5%
AG First Majestic Silver Corp. 0.56% 1,341,288 $11.1M Reduce -70.9%
BKE The Buckle Inc. 0.54% 240,000 $10.9M No change
DVS Dolly Varden Silver Ltd. 0.51% 3,111,972 $10.2M New
HL Hecla Mining Co. 0.50% 1,671,159 $10.0M Reduce -20.7%
CRUS Cirrus Logic Inc. 0.49% 94,840 $9.9M No change
CCJ Cameco Corp. 0.49% 132,601 $9.8M Add +17.3%
WLK Westlake Corp. 0.47% 125,000 $9.5M Add +38.9%
TPL Texas Pacific Land Corp. 0.45% 8,521 $9.0M Add +3.1%
ASA ASA Gold and Precious Metals 0.44% 280,183 $8.8M No change
THO Thor Industries Inc. 0.42% 95,000 $8.4M Add +26.7%
NEM Newmont Corp. 0.41% 141,946 $8.3M Reduce -73.7%
FRPH FRP Holdings Inc. filed as FRP HLDGS INC 0.38% 284,340 $7.6M No change
STR Sitio Royalties Corp. Class A 0.34% 366,545 $6.7M Add +3.8%
KW Kennedy-Wilson Holdings Inc. 0.29% 857,596 $5.8M Reduce -0.5%
UEC Uranium Energy Corp. 0.28% 829,776 $5.6M Add +49.0%
SVM Silvercorp Metals Inc. 0.27% 1,296,350 $5.5M Reduce -4.3%
NFGC New Found Gold Corp. 0.27% 3,711,122 $5.3M Add +313.1%
FSM Fortuna Mining Corp. 0.26% 801,778 $5.2M Reduce -5.2%
MMI Marcus & Millichap Inc. 0.26% 170,000 $5.2M Reduce -2.3%
SLV iShares Silver Trust 0.24% 145,628 $4.8M Reduce -39.4%
VSH Vishay Intertechnology Inc. 0.24% 300,000 $4.8M No change
GBUG Sprott Active Gold & Silver 0.24% 185,440 $4.7M Reduce -5.1%
USAS Americas Gold and Silver Cor 0.23% 5,770,466 $4.7M Add +0.2%
PPLT Abrdn Physical Platinum SHRS 0.23% 36,791 $4.5M Add +195.1%
LB Landbridge Co. LLC-A 0.22% 65,309 $4.4M Add +1.7%
UROY Uranium Royalty Corp. 0.20% 1,574,477 $3.9M Add +106.6%
DC Dakota Gold Corp. 0.19% 1,041,489 $3.8M Add +7.0%
AAPL Apple Inc. 0.19% 18,270 $3.7M Add +2.8%
BTG B2GOLD Corp. 0.19% 1,036,290 $3.7M Reduce -10.3%
VCSH Vanguard S/T Corp. Bond ETF 0.18% 45,300 $3.6M No change
SIL Global X Silver Miners ETF 0.18% 74,671 $3.6M Reduce -3.7%
NGD New Gold Inc. 0.18% 711,760 $3.5M Reduce -6.9%
GDX Vaneck Gold Miners ETF 0.17% 64,557 $3.4M Reduce -42.8%
NTR Nutrien Ltd. 0.17% 57,632 $3.4M Add +3.4%
GBTC Grayscale Bitcoin Trust ETF 0.16% 37,085 $3.1M Reduce -3.1%
SGOV iShares 0-3 Month Treasury B 0.15% 28,997 $2.9M Add +7.7%
NXE Nexgen Energy Ltd. 0.15% 419,240 $2.9M Add +3.5%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.14% 277,476 $2.8M Reduce -1.2%
MTA Metalla Royalty & Streaming 0.14% 721,059 $2.8M Reduce -0.5%
HBM Hudbay Minerals Inc. 0.14% 260,844 $2.8M Add +309.7%
B Barrick Mining Corp. 0.12% 118,118 $2.5M Reduce -4.9%
HYMC Hycroft Mining Holding Co. Class A 0.11% 730,763 $2.3M New
CTVA Corteva Inc. 0.11% 29,264 $2.2M Add +2.9%
MP MP Materials Corp. 0.10% 60,955 $2.0M Reduce -7.2%
NEWP New Pacific Metals Corp. 0.09% 1,282,584 $1.7M Add +5.1%
BAM Brookfield Asset Mgmt-A 0.08% 30,291 $1.7M Add +4.8%
URNM Sprott Uranium Miners ETF 0.08% 33,449 $1.6M Add +5.5%
FCX Freeport-McMoran Inc. 0.08% 36,437 $1.6M Add +0.7%
SND Smart Sand Inc. 0.08% 750,000 $1.5M No change
SPPP Sprott Physical Platinum And 0.08% 127,967 $1.5M Add +11.5%
LNG Cheniere Energy Inc. 0.07% 6,060 $1.5M Add +5.7%
DNN Denison Mines Corp. 0.07% 798,498 $1.5M Add +3.4%
SGDJ Sprott Jr. Gold Miners ETF 0.07% 29,117 $1.4M Reduce -2.7%
OUNZ Vaneck Merk Gold ETF 0.07% 43,798 $1.4M Add +119.8%
GFI Gold Fields Ltd.-Spons ADR 0.07% 58,938 $1.4M Add +471.8%
LGO Largo Inc. 0.07% 1,055,634 $1.4M Reduce -1.5%
CNL Collective Mining Ltd. 0.07% 123,600 $1.4M Reduce -58.4%
SGML Sigma Lithium Corp. 0.07% 297,966 $1.3M Reduce -16.7%
TQQQ Proshares Ultrapro QQQ 0.06% 15,400 $1.3M No change
PEO Adams Natural Resources Fund 0.06% 59,532 $1.3M Add +2.2%
CME Cme Group Inc. 0.06% 4,608 $1.3M Add +3.1%
SIVR Abrdn Physical Silver Shares 0.06% 36,792 $1.3M Add +149.2%
GLD SPDR Gold Shares 0.06% 4,117 $1.3M Add +8.1%
FURY Fury Gold Mines Ltd. 0.06% 2,669,434 $1.2M Add +3765.2%
SSO Proshares Ultra S&P500 0.06% 12,200 $1.2M No change
PWR Quanta Services Inc. 0.06% 3,056 $1.2M Add +6.3%
ITRG Integra Resources Corp. 0.06% 766,938 $1.2M Add +53.1%
TMQ Trilogy Metals Inc. 0.05% 803,834 $1.1M Reduce -57.4%
NE Noble Corp. PLC 0.05% 40,635 $1.1M New
SGDM Sprott Gold Miners ETF 0.05% 23,430 $1.1M Reduce -27.2%
LPG Dorian LPG Ltd. 0.05% 42,165 $1.0M Add +321.6%
EWZ iShares MSCI Brazil ETF 0.05% 35,500 $1.0M New
SILJ Amplify Junior Silver Miners 0.05% 69,011 $1.0M Reduce -28.4%
XLE SS Energy Select Sector 0.05% 11,337 $961K Add +10.4%
BWLP BW LPG Ltd. 0.05% 79,000 $935K New
ASM Avino Silver & Gold Mines 0.05% 255,400 $919K Reduce -2.5%
VALE Vale SA-SP ADR 0.04% 90,389 $878K Reduce -9.6%
GROY Gold Royalty Corp. 0.04% 367,040 $811K Add +14.6%
ICE Intercontinental Exchange Inc. 0.04% 4,324 $793K Reduce -0.5%
EXP Eagle Materials Inc. 0.04% 3,913 $791K Add +3.5%
EU Encore Energy Corp. 0.04% 275,647 $788K Add +7.0%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.04% 22,301 $787K Add +50.1%
INSW International Seaways Inc. 0.04% 21,232 $775K Add +141.8%
SA Seabridge Gold Inc. 0.04% 51,844 $753K Reduce -71.8%
LZM Lifezone Metals Ltd. 0.04% 177,975 $733K Reduce -63.9%
GDXJ Vaneck Junior Gold Miners 0.04% 10,619 $718K Reduce -78.1%
NVR NVR Inc. 0.03% 92 $679K Reduce -1.1%
TSLA Tesla Inc. 0.03% 2,138 $679K Reduce -25.1%
UUUU Energy Fuels Inc. 0.03% 113,619 $653K Add +7.3%
BHP BHP Group Ltd.-Spon ADR 0.03% 12,900 $620K Reduce -33.6%
PBR Petroleo Brasileiro-Spon ADR 0.03% 46,555 $582K New
OSISKO DEVELOPMENT CORP 0.03% 261,639 $560K Reduce -62.9%
COPX Global X Copper Miners ETF 0.03% 12,435 $560K New
SU Suncor Energy Inc. 0.03% 14,079 $527K New
AMZN Amazon.com Inc. 0.03% 2,350 $516K No change
AGG iShares Core U.S. Aggregate 0.03% 5,160 $512K Add +4.1%
CVE Cenovus Energy Inc. 0.03% 37,525 $510K New
STNG Scorpio Tankers Inc. 0.03% 13,000 $509K Reduce -35.1%
ISOU Isoenergy Ltd. 0.03% 70,618 $505K New
EWJ iShares MSCI Japan ETF 0.02% 6,620 $496K No change
SETM Sprott Critical Material ETF 0.02% 26,510 $459K Reduce -19.0%
HAFN Hafnia Ltd. 0.02% 90,420 $451K New
ETHE Grayscale Ethereum Staking E 0.02% 21,285 $444K Reduce -5.9%
CVX Chevron Corp. 0.02% 3,094 $443K Add +3.6%
SHOP Shopify Inc. Class A 0.02% 3,080 $359K Reduce -3.2%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.02% 4,720 $347K Add +10.6%
FMC FMC Corp. 0.02% 8,233 $344K Add +5.8%
TEN Tsakos Energy Navigation Ltd. 0.02% 17,700 $340K New
AM Antero Midstream Corp. 0.02% 16,500 $313K No change
SMG Scotts Miracle-Gro Co. 0.02% 4,663 $308K Add +1.6%
BG Bunge Global SA 0.01% 3,700 $297K New
CACI Caci International Inc. Class A 0.01% 588 $280K Reduce -2.2%
OKE Oneok Inc. 0.01% 3,400 $278K No change
DAR Darling Ingredients Inc. 0.01% 6,898 $262K Add +5.3%
BTC Grayscale Bitcoin Mini ETF 0.01% 5,475 $261K Reduce -15.5%
RIO Rio Tinto PLC-Spon ADR 0.01% 4,447 $259K Reduce -43.0%
OIH Vaneck Oil Services ETF 0.01% 1,090 $251K Reduce -3.0%
VNOM Viper Energy Inc. 0.01% 6,570 $251K Add +9.3%
USAU US Gold Corp. 0.01% 19,160 $234K New
GLDG Goldmining Inc. 0.01% 322,778 $232K Reduce -3.3%
AR Antero Resources Corp. 0.01% 5,750 $232K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.01% 352 $217K New
DVN Devon Energy Corp. 0.01% 6,585 $209K Add +4.8%
URG Ur-Energy Inc. 0.01% 196,603 $206K Reduce -3.1%
JOBY Joby Aviation Inc. 0.01% 19,500 $206K Add +14.7%
ALB Albemarle Corp. 0.01% 3,260 $204K New
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.01% 502 $203K New
CC The Chemours Co. 0.01% 17,017 $195K Add +2.2%
PLTM Graniteshares Platinum Trust 0.01% 13,500 $176K No change
VGZ Vista Gold Corp. 0.01% 177,390 $173K Add +14.1%
QUIK Quicklogic Corp. 0.01% 28,005 $173K Add +0.0%
ARIS Aris Mining Corp. filed as ARIS MNG CORP 0.01% 23,554 $158K Reduce -54.8%
TMC TMC the Metals Co. Inc. 0.01% 15,200 $100K No change
CRGY Crescent Energy Inc. Class A 0.00% 11,250 $97K New
MUX McEwen Inc. 0.00% 10,038 $96K Reduce -21.9%
VOXR Vox Royalty Corp. 0.00% 30,500 $96K No change
DGXX Digi Power X Inc. filed as DIGI PWR X INC 0.00% 30,000 $84K New
SBSW Sibanye-Stillwater Ltd.-ADR 0.00% 11,533 $83K Add +10.6%
LITP Sprott Lithium Miners ETF 0.00% 13,275 $76K New
GAU Galiano Gold Inc. 0.00% 52,662 $67K Add +6.7%
INVZ Innoviz Technologies Ltd. 0.00% 32,000 $52K No change
TRX TRX Gold Corp. 0.00% 145,454 $49K No change
SABR Sabre Corp. 0.00% 15,000 $47K No change
NG Novagold Resources Inc. 0.00% 10,397 $43K No change
PROP Prairie Operating Co. 0.00% 13,498 $40K New
VUZI Vuzix Corp. 0.00% 10,000 $29K No change
XPL Solitario Resources Corp. 0.00% 33,333 $22K No change
OSISKO DEVELOPMENT CORP 0.00% 123,420 $19K Add +28.4%
LCTX Lineage Cell Therapeutics Inc. 0.00% 10,000 $9K New
BIOAFFINITY TECHNOLOGIES INC 0.00% 10,000 $3K New

Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($83.8M), ISHARES TR calls ($18.6M), ISHARES TR calls ($5.2M), INVESCO QQQ TR puts ($2.6M), BARRICK MNG CORP calls ($1.6M), VANECK ETF TRUST puts ($1.4M), ISHARES TR puts ($1.3M), ENDEAVOUR SILVER CORP calls ($504K), NVIDIA CORPORATION puts ($316K), ISHARES SILVER TR calls ($262K), AMPLIFY ETF TR puts ($185K).

Other holdings (5): bonds, preferreds, convertibles and warrants · $283K (not counted above)
SecurityClassShares / PrincipalValueChange
LZM.WS Lifezone Metals Ltd. -28 *W EXP 07/05/202 786,775$201KReduce -3.2%
DC.WS Dakota Gold Corp.-26 *W EXP 03/15/202 36,002$61KAdd +6.2%
ASPSZ Altisource Portfolio - 29C *W EXP 04/02/202 16,100$8KNew
ASPSW Altisource Portfolio - 30 *W EXP 04/30/203 16,100$8KNew
FUFUW Bitfufu Inc.-28 *W EXP 03/01/202 15,000$5KNo change

Total filed on the 13F, all lines: $2.0B.

Portfolio Sells Q1 2025 → Q2 2025

AG First Majestic Silver Corp. Reduce -70.9% 0.56% −1.27
AEM Agnico Eagle Mines Ltd. Reduce -10.8% 5.71% −1.17
MAG Mag Silver Corp. Reduce -61.8% 0.93% −1.14
NEM Newmont Corp. Reduce -73.7% 0.41% −1.13
AGI Alamos Gold Inc. Class A Reduce -17.0% 2.46% −1.06
PAAS Pan American Silver Corp. Reduce -11.7% 3.70% −0.80
MAC COPPER LTD Sold out 0.00% −0.72
PPTA Perpetua Resources Corp. Reduce -17.7% 1.70% −0.45
BRK.B Berkshire Hathaway Inc. Class B Reduce -11.1% 0.90% −0.41
PHYS Sprott Physical Gold Trust Reduce -2.3% 2.46% −0.37
SAND Sandstorm Gold Ltd. Reduce -14.0% 2.14% −0.22
SLV iShares Silver Trust Reduce -39.4% 0.24% −0.20
HL Hecla Mining Co. Reduce -20.7% 0.50% −0.19
PSLV Sprott Physical Silver Trust Reduce -2.3% 1.15% −0.17
FHI Federated Hermes Inc. Reduce -4.0% 1.21% −0.16
SGML Sigma Lithium Corp. Reduce -16.7% 0.07% −0.15
KW Kennedy-Wilson Holdings Inc. Reduce -0.5% 0.29% −0.15
GDX Vaneck Gold Miners ETF Reduce -42.8% 0.17% −0.14
GDXJ Vaneck Junior Gold Miners Reduce -78.1% 0.04% −0.13
STLD Steel Dynamics Inc. Reduce -5.5% 0.57% −0.13
TMQ Trilogy Metals Inc. Reduce -57.4% 0.05% −0.12
MMI Marcus & Millichap Inc. Reduce -2.3% 0.26% −0.09
SA Seabridge Gold Inc. Reduce -71.8% 0.04% −0.09
CNL Collective Mining Ltd. Reduce -58.4% 0.07% −0.09
LZM Lifezone Metals Ltd. Reduce -63.9% 0.04% −0.09
KGC Kinross Gold Corp. Reduce -8.3% 2.10% −0.08
RS Reliance Inc. Reduce -2.4% 0.64% −0.07
MKL Markel Group Inc. Sold out 0.00% −0.05
BRK.A Berkshire Hathaway Inc. Class A Sold out 0.00% −0.05
APAM Artisan Partners Asset Ma -A Reduce -1.4% 0.81% −0.05
FSM Fortuna Mining Corp. Reduce -5.2% 0.26% −0.04
SVM Silvercorp Metals Inc. Reduce -4.3% 0.27% −0.03
OSISKO DEVELOPMENT CORP Reduce -62.9% 0.03% −0.03
LGO Largo Inc. Reduce -1.5% 0.07% −0.03
VUG Vanguard Mrngstar GR ETF-Sui Sold out 0.00% −0.03
BHP BHP Group Ltd.-Spon ADR Reduce -33.6% 0.03% −0.02
PZG Paramount Gold Nevada Corp. Sold out 0.00% −0.02
B Barrick Mining Corp. Reduce -4.9% 0.12% −0.02
SGDM Sprott Gold Miners ETF Reduce -27.2% 0.05% −0.02
WM Waste Management Inc. Sold out 0.00% −0.02
STNG Scorpio Tankers Inc. Reduce -35.1% 0.03% −0.02
SILJ Amplify Junior Silver Miners Reduce -28.4% 0.05% −0.02
VGK Vanguard Ftse Europe ETF Sold out 0.00% −0.02
GBUG Sprott Active Gold & Silver Reduce -5.1% 0.24% −0.02
ORLA Orla Mining Ltd. Reduce -1.2% 0.14% −0.02
VALE Vale SA-SP ADR Reduce -9.6% 0.04% −0.02
RIO Rio Tinto PLC-Spon ADR Reduce -43.0% 0.01% −0.01
BRO Brown & Brown Inc. Sold out 0.00% −0.01
RSG Republic Services Inc. Sold out 0.00% −0.01
CB Chubb Ltd. Sold out 0.00% −0.01

Portfolio Buys Q1 2025 → Q2 2025

BIL SS SPDR BB 1-3M T-Bill ETF Add +224.6% 4.15% +2.64
SII Sprott Inc. Add +0.1% 5.48% +1.28
AU Anglogold Ashanti PLC Add +148.4% 1.72% +1.05
EGO Eldorado Gold Corp. Add +115.6% 1.89% +1.03
EQX Equinox Gold Corp. Add +112.4% 2.72% +0.92
SSRM SSR Mining Inc. Add +325.4% 1.04% +0.81
IAUX I-80 Gold Corp. Add +113.5% 1.30% +0.61
DVS Dolly Varden Silver Ltd. New 0.51% +0.51
EMX Emx Royalty Corp. Add +208.0% 0.71% +0.49
IAG Iamgold Corp. Add +21.3% 2.66% +0.46
OR Or Royalties Inc. Add +7.0% 4.46% +0.41
WPM Wheaton Precious Metals Corp. Add +10.2% 5.03% +0.37
FNV Franco-Nevada Corp. Add +31.8% 2.55% +0.35
CALM Cal-Maine Foods Inc. Add +49.0% 0.98% +0.27
SKE Skeena Resources Ltd. Add +6.1% 0.91% +0.27
CCJ Cameco Corp. Add +17.3% 0.49% +0.22
NFGC New Found Gold Corp. Add +313.1% 0.27% +0.20
EXK Endeavour Silver Corp. Add +33.4% 0.71% +0.17
PPLT Abrdn Physical Platinum SHRS Add +195.1% 0.23% +0.16
UEC Uranium Energy Corp. Add +49.0% 0.28% +0.12
UROY Uranium Royalty Corp. Add +106.6% 0.20% +0.12
HYMC Hycroft Mining Holding Co. Class A New 0.11% +0.11
ERO Ero Copper Corp. Add +2.8% 0.65% +0.11
HBM Hudbay Minerals Inc. Add +309.7% 0.14% +0.11
THO Thor Industries Inc. Add +26.7% 0.42% +0.09
FURY Fury Gold Mines Ltd. Add +3765.2% 0.06% +0.06
GFI Gold Fields Ltd.-Spons ADR Add +471.8% 0.07% +0.06
NE Noble Corp. PLC New 0.05% +0.05
USAS Americas Gold and Silver Cor Add +0.2% 0.23% +0.05
EWZ iShares MSCI Brazil ETF New 0.05% +0.05
BWLP BW LPG Ltd. New 0.05% +0.05
DC Dakota Gold Corp. Add +7.0% 0.19% +0.04
NXE Nexgen Energy Ltd. Add +3.5% 0.15% +0.04
LPG Dorian LPG Ltd. Add +321.6% 0.05% +0.04
SIVR Abrdn Physical Silver Shares Add +149.2% 0.06% +0.04
OUNZ Vaneck Merk Gold ETF Add +119.8% 0.07% +0.03
PBR Petroleo Brasileiro-Spon ADR New 0.03% +0.03
COPX Global X Copper Miners ETF New 0.03% +0.03
SU Suncor Energy Inc. New 0.03% +0.03
CVE Cenovus Energy Inc. New 0.03% +0.03
ISOU Isoenergy Ltd. New 0.03% +0.03
HAFN Hafnia Ltd. New 0.02% +0.02
CF CF Industries Holdings Inc. Add +2.8% 0.94% +0.02
INSW International Seaways Inc. Add +141.8% 0.04% +0.02
ITRG Integra Resources Corp. Add +53.1% 0.06% +0.02
URNM Sprott Uranium Miners ETF Add +5.5% 0.08% +0.02
EU Encore Energy Corp. Add +7.0% 0.04% +0.02
TEN Tsakos Energy Navigation Ltd. New 0.02% +0.02
BG Bunge Global SA New 0.01% +0.01
PWR Quanta Services Inc. Add +6.3% 0.06% +0.01

Options Activity Q1 2025 → Q2 2025

STATE STR SPDR S&P 500 ETF T put Reduce -39.5% 135,700 $83.8M
ISHARES TR call Add +1.0% 194,100 $18.6M
INVESCO QQQ TR put New 4,700 $2.6M
BARRICK MNG CORP call New 75,000 $1.6M
VANECK ETF TRUST put New 21,300 $1.4M
ENDEAVOUR SILVER CORP call New 102,500 $504K
NVIDIA CORPORATION put New 2,000 $316K
ISHARES SILVER TR call Reduce -98.0% 8,000 $262K
AMPLIFY ETF TR put New 12,500 $185K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025

LZM.WS Lifezone Metals Ltd. -28 *W EXP 07/05/202 Reduce -3.2% 786,775 $201K
DC.WS Dakota Gold Corp.-26 *W EXP 03/15/202 Add +6.2% 36,002 $61K
ASPSZ Altisource Portfolio - 29C *W EXP 04/02/202 New 16,100 $8K
ASPSW Altisource Portfolio - 30 *W EXP 04/30/203 New 16,100 $8K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 246$3.0BSII, FUND, AEM, CDE, BIL
Q1 2026 223$3.3BSII, FUND, AEM, EQX, CDE
Q4 2025 201$2.8BSII, EQX, FUND, CDE, AEM
Q3 2025 190$2.7BCDE, AEM, SII, WPM, FUND
Q2 2025 192$2.0BAEM, FUND, SII, WPM, OR
Q1 2025 187$1.7BAEM, FUND, WPM, PAAS, SII
Q4 2024 181$1.5BFUND, AEM, SII, SILV, OR
Q3 2024 145$1.6BFUND, AEM, SILV, OR, SII
Q2 2024 136$1.3BFUND, AEM, SILV, SII, PAAS
Q1 2024 137$1.4BFUND, AEM, OR, SII, SILV