Sprott Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Sprott Inc. reported 190 stock positions worth $2.7 billion. Its top holding was Coeur Mining (CDE) at 6.5% of the portfolio, followed by Agnico Eagle Mines (AEM, 5.5%) and Sprott (SII, 5.1%). Compared with Q2 2025, it opened 20 new positions, sold out of 22, added to 72 and reduced 76. The biggest buy was Coeur Mining (CDE, shares +2%) and the biggest sale Pan American Silver (PAAS, shares −43%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001512920
Portfolio Value
$2.7B (Q3 2025)
SEC Filing
0001512920-25-000014 ↗ filed Nov 12, 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 Q2 2025 Q3 2025: $2.7B $2.7B Q3 2025 Q4 2025: $2.8B Q4 2025 Q1 2026: $3.3B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 190 stocks · $2.7B
CDE Coeur Mining Inc. 6.49% 9,208,046 $172.7M Add +1.9%
AEM Agnico Eagle Mines Ltd. 5.48% 865,979 $145.9M Reduce -9.6%
SII Sprott Inc. 5.14% 1,645,582 $136.9M Add +3.7%
WPM Wheaton Precious Metals Corp. 4.84% 1,151,886 $128.9M Add +3.0%
FUND Sprott Focus Trust Inc. 4.75% 15,219,058 $126.4M Add +0.9%
EQX Equinox Gold Corp. 4.49% 10,656,833 $119.5M Add +12.9%
OR Or Royalties Inc. 4.31% 2,860,138 $114.6M Reduce -17.5%
VZLA Vizsla Silver Corp. 3.71% 22,851,053 $98.7M Add +1.4%
IAG Iamgold Corp. 3.55% 7,313,344 $94.6M Add +1.3%
BIL SS SPDR BB 1-3M T-Bill ETF 2.70% 783,921 $71.9M Reduce -13.3%
PHYS Sprott Physical Gold Trust 2.52% 2,265,812 $67.1M Add +16.6%
KGC Kinross Gold Corp. 2.26% 2,417,709 $60.1M Reduce -10.1%
PAAS Pan American Silver Corp. 2.17% 1,492,927 $57.8M Reduce -42.7%
EGO Eldorado Gold Corp. 2.08% 1,915,378 $55.3M Add +3.1%
AGI Alamos Gold Inc. Class A 2.05% 1,567,982 $54.7M Reduce -15.1%
AU Anglogold Ashanti PLC 2.04% 770,670 $54.2M Add +2.2%
FNV Franco-Nevada Corp. 2.01% 240,505 $53.6M Reduce -22.7%
PPTA Perpetua Resources Corp. 1.79% 2,352,112 $47.6M Reduce -15.8%
SSRM SSR Mining Inc. 1.55% 1,688,922 $41.2M Add +3.4%
IAUX I-80 Gold Corp. 1.54% 42,773,508 $40.9M Add +1.7%
EXK Endeavour Silver Corp. 1.34% 4,544,570 $35.6M Add +56.9%
TFPM Triple Flag Precious Met 1.27% 1,156,609 $33.8M Add +49.2%
THM Intl Tower Hill Mines Ltd. filed as INTERNATIONAL TOWER HILL MIN 1.22% 19,796,015 $32.4M Add +0.1%
PSLV Sprott Physical Silver Trust 1.15% 1,956,862 $30.7M Add +4.6%
NGD New Gold Inc. 1.15% 4,244,795 $30.5M Add +496.4%
EMX Emx Royalty Corp. filed as EMX RTY CORP 1.06% 5,499,899 $28.3M Reduce -2.3%
NUE Nucor Corp. 1.01% 198,541 $26.9M Reduce -0.4%
XOM Exxon Mobil Corp. 1.00% 236,805 $26.7M Reduce -0.4%
FHI Federated Hermes Inc. 0.99% 507,225 $26.3M Reduce -6.8%
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU 0.96% 1,054,139 $25.6M New
AG First Majestic Silver Corp. 0.94% 2,036,679 $25.0M Add +51.9%
SKE Skeena Resources Ltd. 0.92% 1,330,589 $24.5M Add +16.5%
CEF Sprott Physical Gold and Sil 0.92% 664,116 $24.4M Reduce -3.5%
HP Helmerich & Payne 0.80% 968,908 $21.4M Reduce -0.8%
B Barrick Mining Corp. 0.77% 624,005 $20.5M Add +428.3%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.76% 224,333 $20.1M Add +10.0%
CALM Cal-Maine Foods Inc. 0.75% 211,500 $19.9M Add +7.7%
NEM Newmont Corp. 0.74% 234,072 $19.7M Add +64.9%
SAND Sandstorm Gold Ltd. 0.72% 1,523,166 $19.1M Reduce -66.5%
SLSR Solaris Resources Inc. 0.65% 2,710,627 $17.3M Reduce -1.9%
APAM Artisan Partners Asset Ma -A 0.59% 362,095 $15.7M Reduce -0.7%
ERO Ero Copper Corp. 0.59% 774,485 $15.7M Add +0.7%
BRK.B Berkshire Hathaway Inc. Class B 0.50% 26,237 $13.2M Reduce -29.2%
BKE The Buckle Inc. 0.48% 220,000 $12.9M Reduce -8.3%
ASA ASA Gold and Precious Metals 0.48% 280,183 $12.8M No change
STLD Steel Dynamics Inc. 0.47% 89,992 $12.5M Add +1.7%
RS Reliance Inc. 0.45% 42,592 $12.0M Add +5.0%
CRUS Cirrus Logic Inc. 0.45% 94,840 $11.9M No change
CCJ Cameco Corp. 0.43% 137,178 $11.5M Add +3.5%
RGLD Royal Gold Inc. 0.42% 55,163 $11.1M Reduce -16.5%
WLK Westlake Corp. 0.38% 130,000 $10.0M Add +4.0%
THO Thor Industries Inc. 0.37% 95,000 $9.9M No change
NFGC New Found Gold Corp. 0.36% 4,016,894 $9.5M Add +8.2%
TPL Texas Pacific Land Corp. 0.34% 9,787 $9.1M Add +14.9%
SVM Silvercorp Metals Inc. 0.31% 1,301,082 $8.2M Add +0.4%
VNOM Viper Energy Inc. Class A 0.30% 210,360 $8.0M New
METL Sprott Act Metals&miners ETF 0.30% 363,470 $8.0M New
HL Hecla Mining Co. 0.30% 653,857 $7.9M Reduce -60.9%
UEC Uranium Energy Corp. 0.30% 590,492 $7.9M Reduce -28.8%
KW Kennedy-Wilson Holdings Inc. 0.27% 850,700 $7.1M Reduce -0.8%
UROY Uranium Royalty Corp. 0.26% 1,629,077 $7.0M Add +3.5%
FRPH FRP Holdings Inc. filed as FRP HLDGS INC 0.26% 284,340 $6.9M No change
GBUG Sprott Active Gold & Silver 0.26% 181,790 $6.8M Reduce -2.0%
DVS Dolly Varden Silver Ltd. 0.24% 1,288,303 $6.5M Reduce -58.6%
SLV iShares Silver Trust 0.23% 146,894 $6.2M Add +0.9%
PPLT Abrdn Physical Platinum SHRS 0.22% 41,779 $6.0M Add +13.6%
SIL Global X Silver Miners ETF 0.21% 77,226 $5.5M Add +3.4%
USAS Americas Gold and Silver Cor 0.20% 1,409,118 $5.3M Reduce -39.0%
HYMC Hycroft Mining Holding Co. Class A 0.19% 816,253 $5.1M Add +11.7%
MMI Marcus & Millichap Inc. 0.19% 170,000 $5.0M No change
DC Dakota Gold Corp. 0.19% 1,087,046 $4.9M Add +4.4%
GDX Vaneck Gold Miners ETF 0.18% 64,457 $4.9M Reduce -0.1%
MTA Metalla Royalty & Streaming 0.18% 738,209 $4.7M Add +2.4%
VSH Vishay Intertechnology Inc. 0.17% 300,000 $4.6M No change
BTG B2GOLD Corp. 0.16% 868,857 $4.3M Reduce -16.2%
VCSH Vanguard S/T Corp. Bond ETF 0.16% 53,700 $4.3M Add +18.5%
LB Landbridge Co. LLC-A 0.15% 74,363 $4.0M Add +13.9%
NXE Nexgen Energy Ltd. 0.15% 437,427 $3.9M Add +4.3%
NEWP New Pacific Metals Corp. 0.13% 1,296,531 $3.5M Add +1.1%
MP MP Materials Corp. 0.13% 50,183 $3.4M Reduce -17.7%
GFI Gold Fields Ltd.-Spons ADR 0.13% 79,289 $3.3M Add +34.5%
NTR Nutrien Ltd. 0.12% 54,044 $3.2M Reduce -6.2%
GBTC Grayscale Bitcoin Trust ETF 0.12% 34,255 $3.1M Reduce -7.6%
GDXJ Vaneck Junior Gold Miners 0.11% 30,054 $3.0M Add +183.0%
FSM Fortuna Mining Corp. 0.10% 304,946 $2.7M Reduce -62.0%
SGDJ Sprott Jr. Gold Miners ETF 0.10% 36,272 $2.6M Add +24.6%
SGDM Sprott Gold Miners ETF 0.09% 39,420 $2.4M Add +68.3%
DNN Denison Mines Corp. 0.09% 840,874 $2.3M Add +5.3%
SILJ Amplify Junior Silver Miners 0.08% 94,270 $2.2M Add +36.6%
CTVA Corteva Inc. 0.07% 29,169 $2.0M Reduce -0.3%
SPPP Sprott Physical Platinum And 0.07% 142,067 $1.9M Add +11.0%
SGML Sigma Lithium Corp. 0.07% 286,170 $1.8M Reduce -4.0%
ITRG Integra Resources Corp. 0.07% 611,447 $1.8M Reduce -20.3%
LGO Largo Inc. 0.07% 1,174,346 $1.8M Add +11.3%
BAM Brookfield Asset Mgmt-A 0.06% 29,717 $1.7M Reduce -1.9%
OUNZ Vaneck Merk Gold ETF 0.06% 43,363 $1.6M Reduce -1.0%
SIVR Abrdn Physical Silver Shares 0.06% 36,248 $1.6M Reduce -1.5%
SND Smart Sand Inc. 0.06% 750,000 $1.6M No change
URNM Sprott Uranium Miners ETF 0.06% 26,482 $1.6M Reduce -20.8%
TQQQ Proshares Ultrapro QQQ 0.06% 15,400 $1.6M No change
UUUU Energy Fuels Inc. 0.05% 95,094 $1.5M Reduce -16.3%
GLD SPDR Gold Shares 0.05% 4,007 $1.4M Reduce -2.7%
LNG Cheniere Energy Inc. 0.05% 5,997 $1.4M Reduce -1.0%
COPX Global X Copper Miners ETF 0.05% 23,435 $1.4M Add +88.5%
GROY Gold Royalty Corp. 0.05% 360,475 $1.4M Reduce -1.8%
SSO Proshares Ultra S&P500 0.05% 12,200 $1.4M No change
ASM Avino Silver & Gold Mines 0.05% 256,320 $1.3M Add +0.4%
PEO Adams Natural Resources Fund 0.05% 60,610 $1.3M Add +1.8%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.05% 30,074 $1.3M Add +34.9%
CME Cme Group Inc. 0.05% 4,712 $1.3M Add +2.3%
FCX Freeport-McMoran Inc. 0.05% 32,114 $1.3M Reduce -11.9%
PWR Quanta Services Inc. 0.05% 2,943 $1.2M Reduce -3.7%
AAPL Apple Inc. 0.05% 4,710 $1.2M Reduce -74.2%
ALAB Astera Labs Inc. 0.04% 5,800 $1.1M New
VALE Vale SA-SP ADR 0.04% 100,558 $1.1M Add +11.3%
SA Seabridge Gold Inc. 0.04% 44,137 $1.1M Reduce -14.9%
XLE SS Energy Select Sector 0.04% 10,885 $972K Reduce -4.0%
CNL Collective Mining Ltd. 0.03% 59,600 $861K Reduce -51.8%
OSISKO DEVELOPMENT CORP 0.03% 253,341 $859K Reduce -3.2%
EU Encore Energy Corp. 0.03% 260,437 $836K Reduce -5.5%
BHP BHP Group Ltd.-Spon ADR 0.03% 14,834 $827K Add +15.0%
BTU Peabody Energy Corp. 0.03% 30,006 $796K New
HBM Hudbay Minerals Inc. 0.03% 52,436 $794K Reduce -79.9%
LZM Lifezone Metals Ltd. 0.03% 144,096 $790K Reduce -19.0%
SU Suncor Energy Inc. 0.03% 18,779 $785K Add +33.4%
TSLA Tesla Inc. 0.03% 1,722 $766K Reduce -19.5%
ICE Intercontinental Exchange Inc. 0.03% 4,418 $744K Add +2.2%
ETHE Grayscale Ethereum Staking E 0.03% 21,215 $727K Reduce -0.3%
EWZ iShares MSCI Brazil ETF 0.03% 22,500 $698K Reduce -36.6%
ISOU Isoenergy Ltd. 0.03% 68,833 $690K Reduce -2.5%
VGZ Vista Gold Corp. 0.03% 321,079 $684K Add +81.0%
LPG Dorian LPG Ltd. 0.02% 21,883 $652K Reduce -48.1%
SGOV iShares 0-3 Month Treasury B 0.02% 6,055 $610K Reduce -79.1%
NE Noble Corp. PLC 0.02% 20,635 $584K Reduce -49.2%
CNQ Canadian Natural Resources 0.02% 18,194 $581K New
EXP Eagle Materials Inc. 0.02% 2,486 $579K Reduce -36.5%
PBR Petroleo Brasileiro-Spon ADR 0.02% 44,055 $558K Reduce -5.4%
CVX Chevron Corp. 0.02% 3,442 $535K Add +11.3%
EWJ iShares MSCI Japan ETF 0.02% 6,620 $531K No change
AMZN Amazon.com Inc. 0.02% 2,350 $516K No change
AGG iShares Core U.S. Aggregate 0.02% 5,115 $513K Reduce -0.9%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.02% 45,023 $486K Reduce -83.8%
TMQ Trilogy Metals Inc. 0.02% 217,599 $457K Reduce -72.9%
GLDG Goldmining Inc. 0.02% 363,621 $447K Add +12.7%
ARIS Aris Mining Corp. filed as ARIS MNG CORP 0.02% 44,464 $436K Add +88.8%
SLVR Sprott SLVR Miner & PHY SLVR 0.01% 8,961 $397K New
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.01% 5,994 $369K Add +27.0%
ALB Albemarle Corp. 0.01% 4,497 $365K Add +37.9%
NVR NVR Inc. 0.01% 44 $354K Reduce -52.2%
LITP Sprott Lithium Miners ETF 0.01% 38,465 $347K Add +189.8%
URG Ur-Energy Inc. 0.01% 189,123 $339K Reduce -3.8%
HCC Warrior Met Coal Inc. 0.01% 5,179 $330K New
AM Antero Midstream Corp. 0.01% 16,500 $321K No change
JOBY Joby Aviation Inc. 0.01% 19,655 $317K Add +0.8%
PLTM Graniteshares Platinum Trust 0.01% 20,750 $314K Add +53.7%
SETM Sprott Critical Material ETF 0.01% 12,455 $313K Reduce -53.0%
CACI Caci International Inc. Class A 0.01% 588 $293K No change
RIO Rio Tinto PLC-Spon ADR 0.01% 4,417 $292K Reduce -0.7%
OIH Vaneck Oil Services ETF 0.01% 1,090 $283K No change
IREN Iren Ltd. filed as IREN LIMITED 0.01% 6,010 $282K New
FMC FMC Corp. 0.01% 8,331 $280K Add +1.2%
BTC Grayscale Bitcoin Mini ETF 0.01% 5,375 $272K Reduce -1.8%
OKE Oneok Inc. 0.01% 3,400 $248K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.01% 352 $234K No change
DVN Devon Energy Corp. 0.01% 6,400 $224K Reduce -2.8%
CNR Core Natural Resources Inc. 0.01% 2,562 $214K New
COPP Sprott Copper Miners ETF 0.01% 7,452 $211K New
DAR Darling Ingredients Inc. 0.01% 6,818 $210K Reduce -1.2%
KMI Kinder Morgan Inc. 0.01% 7,183 $203K New
USAU US Gold Corp. 0.01% 11,860 $195K Reduce -38.1%
MUX McEwen Inc. 0.01% 10,076 $172K Add +0.4%
IE Ivanhoe Electric Inc. / US 0.01% 10,828 $136K New
GAU Galiano Gold Inc. 0.00% 59,862 $131K Add +13.7%
MSOS Advisorshares Pure US Cann 0.00% 26,920 $129K New
TEUCRIUM WHEAT FUND 0.00% 25,580 $105K New
CRGY Crescent Energy Inc. Class A 0.00% 11,250 $100K No change
NG Novagold Resources Inc. 0.00% 11,030 $97K Add +6.1%
TMC TMC the Metals Co. Inc. 0.00% 15,200 $97K No change
VFF Village Farms International 0.00% 30,000 $94K New
LAC Lithium Americas Corp. 0.00% 13,547 $77K New
DGXX Digi Power X Inc. filed as DIGI PWR X INC 0.00% 30,000 $69K No change
PTEN Patterson-Uti Energy Inc. 0.00% 10,000 $52K New
TRX TRX Gold Corp. 0.00% 70,975 $44K Reduce -51.2%
FURY Fury Gold Mines Ltd. 0.00% 62,924 $41K Reduce -97.6%
OSISKO DEVELOPMENT CORP 0.00% 120,087 $32K Reduce -2.7%
MRVI Maravai Lifesciences Hldgs-A 0.00% 10,000 $29K New
SABR Sabre Corp. 0.00% 15,000 $27K No change
LUCD Lucid Diagnostics Inc. 0.00% 25,000 $25K New
XPL Solitario Resources Corp. 0.00% 33,333 $23K No change
LCTX Lineage Cell Therapeutics Inc. 0.00% 10,000 $17K No change

Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($124.6M), ISHARES TR calls ($24.3M), VANECK ETF TRUST puts ($14.2M), INVESCO QQQ TR puts ($12.4M), ISHARES TR calls ($5.4M), SPDR GOLD TR puts ($3.7M), BARRICK MNG CORP calls ($1.6M), ISHARES TR puts ($1.4M), SELECT SECTOR SPDR TR puts ($1.3M), ISHARES TR calls ($1.2M), BARCLAYS BANK PLC calls ($720K), ENDEAVOUR SILVER CORP calls ($663K), and 5 more.

Other holdings (7): bonds, preferreds, convertibles and warrants · $5.6M (not counted above)
SecurityClassShares / PrincipalValueChange
IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 11,300,000$5.1MNew
LZM.WS Lifezone Metals Ltd. -28 *W EXP 07/05/202 697,194$439KReduce -11.4%
DC.WS Dakota Gold Corp.-26 *W EXP 03/15/202 33,298$81KReduce -7.5%
ASPSW Altisource Portfolio - 30 *W EXP 04/30/203 16,100$11KNo change
ASPSZ Altisource Portfolio - 29C *W EXP 04/02/202 16,100$9KNo change
FUFUW Bitfufu Inc.-28 *W EXP 03/01/202 15,000$6KNo change
CRGOW Freightos Ltd.-CW28 *W EXP 99/99/999 10,000$3KNew

Total filed on the 13F, all lines: $2.7B.

Portfolio Sells Q2 2025 → Q3 2025
PAAS Pan American Silver Corp. Reduce -42.7% 2.17% −1.53
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -13.3% 2.70% −1.45
SAND Sandstorm Gold Ltd. Reduce -66.5% 0.72% −1.42
MAG Mag Silver Corp. Sold out 0.00% −0.93
FNV Franco-Nevada Corp. Reduce -22.7% 2.01% −0.54
BRK.B Berkshire Hathaway Inc. Class B Reduce -29.2% 0.50% −0.40
AGI Alamos Gold Inc. Class A Reduce -15.1% 2.05% −0.40
STR Sitio Royalties Corp. Class A Sold out 0.00% −0.34
NUE Nucor Corp. Reduce -0.4% 1.01% −0.28
XOM Exxon Mobil Corp. Reduce -0.4% 1.00% −0.28
DVS Dolly Varden Silver Ltd. Reduce -58.6% 0.24% −0.27
AEM Agnico Eagle Mines Ltd. Reduce -9.6% 5.48% −0.22
APAM Artisan Partners Asset Ma -A Reduce -0.7% 0.59% −0.22
FHI Federated Hermes Inc. Reduce -6.8% 0.99% −0.22
HL Hecla Mining Co. Reduce -60.9% 0.30% −0.20
RGLD Royal Gold Inc. Reduce -16.5% 0.42% −0.17
FSM Fortuna Mining Corp. Reduce -62.0% 0.10% −0.16
OR Or Royalties Inc. Reduce -17.5% 4.31% −0.15
AAPL Apple Inc. Reduce -74.2% 0.05% −0.14
SGOV iShares 0-3 Month Treasury B Reduce -79.1% 0.02% −0.12
ORLA Orla Mining Ltd. Reduce -83.8% 0.02% −0.12
CEF Sprott Physical Gold and Sil Reduce -3.5% 0.92% −0.12
HBM Hudbay Minerals Inc. Reduce -79.9% 0.03% −0.11
FURY Fury Gold Mines Ltd. Reduce -97.6% 0.00% −0.06
BKE The Buckle Inc. Reduce -8.3% 0.48% −0.06
NTR Nutrien Ltd. Reduce -6.2% 0.12% −0.05
BWLP BW LPG Ltd. Sold out 0.00% −0.05
GBTC Grayscale Bitcoin Trust ETF Reduce -7.6% 0.12% −0.04
INSW International Seaways Inc. Sold out 0.00% −0.04
TMQ Trilogy Metals Inc. Reduce -72.9% 0.02% −0.04
USAS Americas Gold and Silver Cor Reduce -39.0% 0.20% −0.04
CNL Collective Mining Ltd. Reduce -51.8% 0.03% −0.04
CTVA Corteva Inc. Reduce -0.3% 0.07% −0.04
NE Noble Corp. PLC Reduce -49.2% 0.02% −0.03
FCX Freeport-McMoran Inc. Reduce -11.9% 0.05% −0.03
LPG Dorian LPG Ltd. Reduce -48.1% 0.02% −0.03
KW Kennedy-Wilson Holdings Inc. Reduce -0.8% 0.27% −0.03
BTG B2GOLD Corp. Reduce -16.2% 0.16% −0.03
CVE Cenovus Energy Inc. Sold out 0.00% −0.03
STNG Scorpio Tankers Inc. Sold out 0.00% −0.03
EWZ iShares MSCI Brazil ETF Reduce -36.6% 0.03% −0.03
HAFN Hafnia Ltd. Sold out 0.00% −0.02
LNG Cheniere Energy Inc. Reduce -1.0% 0.05% −0.02
NVR NVR Inc. Reduce -52.2% 0.01% −0.02
BAM Brookfield Asset Mgmt-A Reduce -1.9% 0.06% −0.02
URNM Sprott Uranium Miners ETF Reduce -20.8% 0.06% −0.02
SHOP Shopify Inc. Class A Sold out 0.00% −0.02
EXP Eagle Materials Inc. Reduce -36.5% 0.02% −0.02
TEN Tsakos Energy Navigation Ltd. Sold out 0.00% −0.02
SMG Scotts Miracle-Gro Co. Sold out 0.00% −0.02

Portfolio Buys Q2 2025 → Q3 2025
CDE Coeur Mining Inc. Add +1.9% 6.49% +2.49
EQX Equinox Gold Corp. Add +12.9% 4.49% +1.77
NGD New Gold Inc. Add +496.4% 1.15% +0.97
BVN Cia DE Minas Buenaventur-ADR New 0.96% +0.96
IAG Iamgold Corp. Add +1.3% 3.55% +0.90
B Barrick Mining Corp. Add +428.3% 0.77% +0.65
EXK Endeavour Silver Corp. Add +56.9% 1.34% +0.62
SSRM SSR Mining Inc. Add +3.4% 1.55% +0.51
AG First Majestic Silver Corp. Add +51.9% 0.94% +0.38
VZLA Vizsla Silver Corp. Add +1.4% 3.71% +0.38
THM Intl Tower Hill Mines Ltd. Add +0.1% 1.22% +0.37
TFPM Triple Flag Precious Met Add +49.2% 1.27% +0.35
NEM Newmont Corp. Add +64.9% 0.74% +0.33
AU Anglogold Ashanti PLC Add +2.2% 2.04% +0.32
VNOM Viper Energy Inc. Class A New 0.30% +0.30
METL Sprott Act Metals&miners ETF New 0.30% +0.30
IAUX I-80 Gold Corp. Add +1.7% 1.54% +0.24
EGO Eldorado Gold Corp. Add +3.1% 2.08% +0.19
NFGC New Found Gold Corp. Add +8.2% 0.36% +0.09
GDXJ Vaneck Junior Gold Miners Add +183.0% 0.11% +0.08
HYMC Hycroft Mining Holding Co. Class A Add +11.7% 0.19% +0.08
UROY Uranium Royalty Corp. Add +3.5% 0.26% +0.07
PHYS Sprott Physical Gold Trust Add +16.6% 2.52% +0.06
GFI Gold Fields Ltd.-Spons ADR Add +34.5% 0.13% +0.06
NEWP New Pacific Metals Corp. Add +1.1% 0.13% +0.05
ALAB Astera Labs Inc. New 0.04% +0.04
SGDM Sprott Gold Miners ETF Add +68.3% 0.09% +0.04
MTA Metalla Royalty & Streaming Add +2.4% 0.18% +0.04
SVM Silvercorp Metals Inc. Add +0.4% 0.31% +0.03
SILJ Amplify Junior Silver Miners Add +36.6% 0.08% +0.03
BTU Peabody Energy Corp. New 0.03% +0.03
SIL Global X Silver Miners ETF Add +3.4% 0.21% +0.03
SGDJ Sprott Jr. Gold Miners ETF Add +24.6% 0.10% +0.03
COPX Global X Copper Miners ETF Add +88.5% 0.05% +0.02
CNQ Canadian Natural Resources New 0.02% +0.02
VGZ Vista Gold Corp. Add +81.0% 0.03% +0.02
SLVR Sprott SLVR Miner & PHY SLVR New 0.01% +0.01
DNN Denison Mines Corp. Add +5.3% 0.09% +0.01
HCC Warrior Met Coal Inc. New 0.01% +0.01
SKE Skeena Resources Ltd. Add +16.5% 0.92% +0.01
IREN Iren Ltd. New 0.01% +0.01
SQM Quimica Y Minera Chil-SP ADR Add +34.9% 0.05% +0.01
LITP Sprott Lithium Miners ETF Add +189.8% 0.01% +0.01
ARIS Aris Mining Corp. Add +88.8% 0.02% +0.01
PSLV Sprott Physical Silver Trust Add +4.6% 1.15% +0.01
CNR Core Natural Resources Inc. New 0.01% +0.01
COPP Sprott Copper Miners ETF New 0.01% +0.01
KMI Kinder Morgan Inc. New 0.01% +0.01
GLDG Goldmining Inc. Add +12.7% 0.02% +0.01
IE Ivanhoe Electric Inc. / US New 0.01% +0.01

Options Activity Q2 2025 → Q3 2025
STATE STR SPDR S&P 500 ETF T put Add +37.2% 186,200 $124.6M
ISHARES TR call Add +28.1% 248,600 $24.3M
VANECK ETF TRUST put Add +616.9% 152,700 $14.2M
INVESCO QQQ TR put Add +334.0% 20,400 $12.4M
SPDR GOLD TR put New 10,000 $3.7M
BARRICK MNG CORP call Reduce -32.0% 51,000 $1.6M
SELECT SECTOR SPDR TR put New 24,500 $1.3M
ISHARES TR call New 10,000 $1.2M
BARCLAYS BANK PLC call New 21,000 $720K
ENDEAVOUR SILVER CORP call Reduce -16.6% 85,500 $663K
EQUINOX GOLD CORP call New 53,000 $574K
ISHARES SILVER TR call Add +62.5% 13,000 $565K
AMPLIFY ETF TR put Add +12.0% 14,000 $311K
HECLA MINING COMPANY call New 15,000 $182K

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

Notes & Other Activity Q2 2025 → Q3 2025
IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 New 11,300,000 $5.1M
LZM.WS Lifezone Metals Ltd. -28 *W EXP 07/05/202 Reduce -11.4% 697,194 $439K
DC.WS Dakota Gold Corp.-26 *W EXP 03/15/202 Reduce -7.5% 33,298 $81K
CRGOW Freightos Ltd.-CW28 *W EXP 99/99/999 New 10,000 $3K

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