Sprott Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Sprott Inc. reported 201 stock positions worth $2.8 billion. Its top holding was Sprott (SII) at 5.9% of the portfolio, followed by Equinox Gold (EQX, 5.0%) and Sprott Focus Trust (FUND, 4.8%). Compared with Q3 2025, it opened 28 new positions, sold out of 17, added to 75 and reduced 73. The biggest buy was Barrick Mining (B, shares +283%) and the biggest sale Coeur Mining (CDE, shares −19%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001512920
Portfolio Value
$2.8B (Q4 2025)
SEC Filing
0001512920-26-000002 ↗ filed Feb 12, 2026

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 Q3 2025 Q4 2025: $2.8B $2.8B Q4 2025 Q1 2026: $3.3B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 201 stocks · $2.8B
SII Sprott Inc. 5.85% 1,661,137 $162.7M Add +0.9%
EQX Equinox Gold Corp. 5.03% 9,946,732 $139.8M Reduce -6.7%
FUND Sprott Focus Trust Inc. 4.82% 15,450,730 $134.1M Add +1.5%
CDE Coeur Mining Inc. 4.80% 7,480,370 $133.4M Reduce -18.8%
AEM Agnico Eagle Mines Ltd. 4.38% 718,019 $121.8M Reduce -17.1%
IAG Iamgold Corp. 4.10% 6,902,659 $113.8M Reduce -5.6%
VZLA Vizsla Silver Corp. 4.08% 20,712,812 $113.4M Reduce -9.4%
WPM Wheaton Precious Metals Corp. 3.78% 893,905 $105.1M Reduce -22.4%
B Barrick Mining Corp. 3.75% 2,389,369 $104.1M Add +282.9%
OR Or Royalties Inc. 3.05% 2,394,407 $84.8M Reduce -16.3%
BIL SS SPDR BB 1-3M T-Bill ETF 2.73% 830,949 $75.9M Add +6.0%
PHYS Sprott Physical Gold Trust 2.63% 2,211,413 $73.0M Reduce -2.4%
EGO Eldorado Gold Corp. 2.27% 1,753,781 $63.0M Reduce -8.4%
KGC Kinross Gold Corp. 2.22% 2,189,104 $61.6M Reduce -9.5%
PPTA Perpetua Resources Corp. 2.05% 2,349,558 $56.9M Reduce -0.1%
AU Anglogold Ashanti PLC 1.98% 644,193 $54.9M Reduce -16.4%
PSLV Sprott Physical Silver Trust 1.86% 2,188,883 $51.8M Add +11.9%
IAUX I-80 Gold Corp. 1.86% 35,136,999 $51.7M Reduce -17.9%
FNV Franco-Nevada Corp. 1.77% 237,666 $49.3M Reduce -1.2%
AGI Alamos Gold Inc. Class A 1.57% 1,134,107 $43.8M Reduce -27.7%
PAAS Pan American Silver Corp. 1.46% 781,084 $40.5M Reduce -47.7%
THM Intl Tower Hill Mines Ltd. filed as INTERNATIONAL TOWER HILL MIN 1.31% 19,790,315 $36.5M Reduce -0.0%
TFPM Triple Flag Precious Met 1.31% 1,096,258 $36.4M Reduce -5.2%
SSRM SSR Mining Inc. 1.30% 1,653,527 $36.2M Reduce -2.1%
RGLD Royal Gold Inc. 1.22% 152,045 $33.8M Add +175.6%
NUE Nucor Corp. 1.18% 201,774 $32.9M Add +1.6%
CEF Sprott Physical Gold and Sil 1.15% 699,916 $32.1M Add +5.4%
ELE Elemental Royalty Corp. 1.15% 1,875,676 $31.8M New
XOM Exxon Mobil Corp. 1.06% 245,225 $29.5M Add +3.6%
HP Helmerich & Payne 0.97% 937,408 $26.9M Reduce -3.3%
FHI Federated Hermes Inc. 0.95% 506,385 $26.4M Reduce -0.2%
SKE Skeena Resources Ltd. 0.92% 1,074,396 $25.5M Reduce -19.3%
NFGC New Found Gold Corp. 0.85% 7,997,610 $23.7M Add +99.1%
EXK Endeavour Silver Corp. 0.83% 2,463,260 $23.2M Reduce -45.8%
ERO Ero Copper Corp. 0.82% 806,451 $22.8M Add +4.1%
SLSR Solaris Resources Inc. 0.73% 2,548,169 $20.3M Reduce -6.0%
CALM Cal-Maine Foods Inc. 0.70% 244,050 $19.4M Add +15.4%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.66% 236,295 $18.3M Add +5.3%
CCJ Cameco Corp. 0.64% 194,706 $17.8M Add +41.9%
NEM Newmont Corp. 0.59% 165,515 $16.5M Reduce -29.3%
OSISKO DEVELOPMENT CORP 0.56% 4,560,007 $15.5M Add +1700.0%
STLD Steel Dynamics Inc. 0.56% 91,191 $15.5M Add +1.3%
APAM Artisan Partners Asset Ma -A 0.53% 362,095 $14.8M No change
ASA ASA Gold and Precious Metals 0.50% 235,183 $14.0M Reduce -16.1%
RS Reliance Inc. 0.49% 47,279 $13.7M Add +11.0%
NGD New Gold Inc. 0.49% 1,562,483 $13.6M Reduce -63.2%
BRK.B Berkshire Hathaway Inc. Class B 0.47% 26,112 $13.1M Reduce -0.5%
VNOM Viper Energy Inc. Class A 0.44% 315,590 $12.2M Add +50.0%
BKE The Buckle Inc. 0.42% 220,000 $11.8M No change
METL Sprott Act Metals&miners ETF 0.41% 455,790 $11.5M Add +25.4%
CRUS Cirrus Logic Inc. 0.40% 94,840 $11.2M No change
MTA Metalla Royalty & Streaming 0.40% 1,415,520 $11.0M Add +91.8%
WLK Westlake Corp. 0.37% 140,000 $10.4M Add +7.7%
AG First Majestic Silver Corp. 0.37% 619,628 $10.3M Reduce -69.6%
THO Thor Industries Inc. 0.35% 95,000 $9.8M No change
TPL Texas Pacific Land Corp. 0.35% 33,921 $9.7M Add +15.5%
USAS Americas Gold and Silver Cor 0.30% 1,643,896 $8.4M Add +16.7%
GBUG Sprott Active Gold & Silver 0.29% 183,295 $8.0M Add +0.8%
UEC Uranium Energy Corp. 0.27% 651,839 $7.6M Add +10.4%
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU 0.26% 264,021 $7.3M Reduce -75.0%
KW Kennedy-Wilson Holdings Inc. 0.24% 700,700 $6.8M Reduce -17.6%
PPLT Abrdn Physical Platinum SHRS 0.24% 36,223 $6.8M Reduce -13.3%
FRPH FRP Holdings Inc. filed as FRP HLDGS INC 0.23% 284,340 $6.5M No change
DC Dakota Gold Corp. 0.23% 1,128,675 $6.4M Add +3.8%
UROY Uranium Royalty Corp. 0.21% 1,619,644 $5.7M Reduce -0.6%
GDX Vaneck Gold Miners ETF 0.20% 66,444 $5.7M Add +3.1%
SIL Global X Silver Miners ETF 0.20% 67,297 $5.6M Reduce -12.9%
VCSH Vanguard S/T Corp. Bond ETF 0.19% 65,400 $5.2M Add +21.8%
HYMC Hycroft Mining Holding Co. Class A 0.17% 198,724 $4.7M Reduce -75.7%
MMI Marcus & Millichap Inc. 0.17% 170,000 $4.6M No change
NXE Nexgen Energy Ltd. 0.17% 501,402 $4.6M Add +14.6%
HL Hecla Mining Co. 0.17% 239,641 $4.6M Reduce -63.4%
SLV iShares Silver Trust 0.16% 70,424 $4.5M Reduce -52.1%
VSH Vishay Intertechnology Inc. 0.16% 300,000 $4.3M No change
LB Landbridge Co. LLC-A 0.15% 85,193 $4.2M Add +14.6%
SLB SLB Ltd. filed as SLB LIMITED 0.14% 104,461 $4.0M New
GFI Gold Fields Ltd.-Spons ADR 0.12% 77,919 $3.4M Reduce -1.7%
NTR Nutrien Ltd. 0.12% 54,682 $3.4M Add +1.2%
SIVR Abrdn Physical Silver Shares 0.11% 45,258 $3.1M Add +24.9%
MP MP Materials Corp. 0.11% 59,703 $3.0M Add +19.0%
SND Smart Sand Inc. 0.11% 750,000 $3.0M No change
SGDJ Sprott Jr. Gold Miners ETF 0.11% 35,432 $3.0M Reduce -2.3%
SILJ Amplify Junior Silver Miners 0.11% 107,392 $3.0M Add +13.9%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.11% 42,894 $3.0M Add +42.6%
DNN Denison Mines Corp. 0.10% 1,096,261 $2.9M Add +30.4%
GNTX Gentex Corp. 0.10% 120,000 $2.8M New
SPPP Sprott Physical Platinum And 0.10% 163,117 $2.7M Add +14.8%
FSM Fortuna Mining Corp. 0.10% 276,085 $2.7M Reduce -9.5%
SGDM Sprott Gold Miners ETF 0.09% 37,310 $2.6M Reduce -5.3%
GBTC Grayscale Bitcoin Trust ETF 0.09% 35,438 $2.4M Add +3.5%
CTVA Corteva Inc. 0.09% 35,814 $2.4M Add +22.8%
LNG Cheniere Energy Inc. 0.08% 12,142 $2.4M Add +102.5%
DVS Dolly Varden Silver Ltd. 0.08% 535,250 $2.4M Reduce -58.5%
COPX Global X Copper Miners ETF 0.08% 32,365 $2.3M Add +38.1%
FCX Freeport-McMoran Inc. 0.08% 43,619 $2.2M Add +35.8%
HRB H&R Block Inc. filed as BLOCK H & R INC 0.08% 50,000 $2.2M New
ASM Avino Silver & Gold Mines 0.08% 345,660 $2.1M Add +34.9%
SVM Silvercorp Metals Inc. 0.08% 255,683 $2.1M Reduce -80.3%
BTG B2GOLD Corp. 0.08% 471,520 $2.1M Reduce -45.7%
ITRG Integra Resources Corp. 0.07% 504,016 $2.0M Reduce -17.6%
OUNZ Vaneck Merk Gold ETF 0.07% 44,583 $1.8M Add +2.8%
BAM Brookfield Asset Mgmt-A 0.06% 34,312 $1.8M Add +15.5%
HBM Hudbay Minerals Inc. 0.06% 84,913 $1.7M Add +61.9%
ALB Albemarle Corp. 0.06% 11,852 $1.7M Add +163.6%
TQQQ Proshares Ultrapro QQQ 0.06% 30,800 $1.6M No change
GLD SPDR Gold Shares 0.06% 3,877 $1.5M Reduce -3.2%
CME Cme Group Inc. 0.05% 5,531 $1.5M Add +17.4%
PEO Adams Natural Resources Fund 0.05% 67,520 $1.5M Add +11.4%
SSO Proshares Ultra S&P500 0.05% 24,400 $1.4M No change
GROY Gold Royalty Corp. 0.05% 344,140 $1.4M Reduce -4.5%
URNM Sprott Uranium Miners ETF 0.05% 25,099 $1.4M Reduce -5.2%
SA Seabridge Gold Inc. 0.05% 45,715 $1.4M Add +3.6%
PWR Quanta Services Inc. 0.05% 3,051 $1.3M Add +3.7%
AAPL Apple Inc. 0.05% 4,610 $1.3M Reduce -2.1%
TEN Tsakos Energy Navigation Ltd. 0.04% 55,000 $1.2M New
UUUU Energy Fuels Inc. 0.04% 78,331 $1.1M Reduce -17.6%
INSW International Seaways Inc. 0.04% 21,182 $1.0M New
VALE Vale SA-SP ADR 0.04% 75,084 $978K Reduce -25.3%
XLE SS Energy Select Sector 0.03% 21,680 $969K Reduce -0.4%
ALAB Astera Labs Inc. 0.03% 5,800 $965K No change
BHP BHP Group Ltd.-Spon ADR 0.03% 14,521 $877K Reduce -2.1%
TSLA Tesla Inc. 0.03% 1,947 $876K Add +13.1%
AMZN Amazon.com Inc. 0.03% 3,655 $844K Add +55.5%
NEWP New Pacific Metals Corp. 0.03% 234,361 $823K Reduce -81.9%
NVDA Nvidia Corp. 0.03% 4,410 $822K New
ICE Intercontinental Exchange Inc. 0.03% 4,481 $726K Add +1.4%
DVN Devon Energy Corp. 0.03% 19,439 $712K Add +203.7%
HCC Warrior Met Coal Inc. 0.03% 8,026 $708K Add +55.0%
SLVR Sprott SLVR Miner & PHY SLVR 0.03% 12,622 $704K Add +40.9%
CVE Cenovus Energy Inc. 0.02% 38,441 $650K New
CVX Chevron Corp. 0.02% 4,232 $645K Add +22.9%
LGO Largo Inc. 0.02% 675,737 $633K Reduce -42.5%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.02% 45,822 $617K Add +1.8%
ISOU Isoenergy Ltd. 0.02% 66,444 $606K Reduce -3.5%
GDXJ Vaneck Junior Gold Miners 0.02% 5,138 $585K Reduce -82.9%
TMQ Trilogy Metals Inc. 0.02% 135,566 $584K Reduce -37.7%
VGZ Vista Gold Corp. 0.02% 295,582 $582K Reduce -7.9%
LITP Sprott Lithium Miners ETF 0.02% 44,740 $539K Add +16.3%
EWJ iShares MSCI Japan ETF 0.02% 6,620 $534K No change
EXP Eagle Materials Inc. 0.02% 2,578 $533K Add +3.7%
TASEKO MINES LTD 0.02% 89,690 $508K New
HAFN Hafnia Ltd. 0.02% 95,000 $506K New
AGG iShares Core U.S. Aggregate 0.02% 5,062 $506K Reduce -1.0%
NVR NVR Inc. 0.02% 69 $503K Add +56.8%
ETHE Grayscale Ethereum Staking E 0.02% 20,605 $502K Reduce -2.9%
SGOV iShares 0-3 Month Treasury B 0.02% 4,842 $486K Reduce -20.0%
GLDG Goldmining Inc. 0.02% 357,104 $446K Reduce -1.8%
SBLK Star Bulk Carriers Corp. 0.02% 22,784 $438K New
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.02% 6,305 $425K Add +5.2%
KMI Kinder Morgan Inc. 0.02% 15,233 $419K Add +112.1%
RRC Range Resources Corp. 0.01% 11,820 $417K New
PLTM Graniteshares Platinum Trust 0.01% 20,750 $409K No change
COPP Sprott Copper Miners ETF 0.01% 11,242 $391K Add +50.9%
AMR Alpha Metallurgical Resource 0.01% 1,906 $381K New
OXY Occidental Petroleum Corp. 0.01% 9,065 $373K New
LZM Lifezone Metals Ltd. 0.01% 86,586 $370K Reduce -39.9%
RIO Rio Tinto PLC-Spon ADR 0.01% 4,607 $369K Add +4.3%
DEC Diversified Energy Co. 0.01% 25,000 $362K New
EU Encore Energy Corp. 0.01% 145,047 $360K Reduce -44.3%
CNR Core Natural Resources Inc. 0.01% 4,000 $354K Add +56.1%
ARIS Aris Mining Corp. filed as ARIS MNG CORP 0.01% 21,134 $343K Reduce -52.5%
AGQ Proshares Ultra Silver 0.01% 2,120 $329K New
OIH Vaneck Oil Services ETF 0.01% 1,150 $327K Add +5.5%
CACI Caci International Inc. Class A 0.01% 588 $313K No change
LRCX Lam Research Corp. 0.01% 1,800 $308K New
CNL Collective Mining Ltd. 0.01% 21,100 $308K Reduce -64.6%
GOOG Alphabet Inc. Class C 0.01% 960 $301K New
EWZ iShares MSCI Brazil ETF 0.01% 9,350 $297K Reduce -58.4%
AM Antero Midstream Corp. 0.01% 16,500 $294K No change
ELMD Electromed Inc. 0.01% 10,000 $291K New
INGR Ingredion Inc. 0.01% 2,473 $273K New
NIKL Sprott Nickel Miners ETF 0.01% 17,020 $268K New
COP Conocophillips 0.01% 2,712 $254K New
JOBY Joby Aviation Inc. 0.01% 19,155 $253K Reduce -2.5%
OKE Oneok Inc. 0.01% 3,400 $250K No change
REI Ring Energy Inc. 0.01% 285,000 $248K New
ANGX Angel Studios Inc. 0.01% 52,691 $246K New
IE Ivanhoe Electric Inc. / US 0.01% 15,108 $241K Add +39.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.01% 352 $240K No change
MUX McEwen Inc. 0.01% 12,309 $228K Add +22.2%
IREN Iren Ltd. filed as IREN LIMITED 0.01% 6,010 $227K No change
URG Ur-Energy Inc. 0.01% 158,938 $221K Reduce -16.0%
BTC Grayscale Bitcoin Mini ETF 0.01% 5,500 $213K Add +2.3%
SCCO Southern Copper Corp. 0.01% 1,468 $211K New
GAU Galiano Gold Inc. 0.01% 76,662 $194K Add +28.1%
NG Novagold Resources Inc. 0.00% 12,430 $116K Add +12.7%
WRN Western Copper and Gold Corp. 0.00% 36,330 $97K New
CRGY Crescent Energy Inc. Class A 0.00% 11,250 $94K No change
TRX TRX Gold Corp. 0.00% 95,721 $88K Add +34.9%
DGXX Digi Power X Inc. filed as DIGI PWR X INC 0.00% 30,000 $77K No change
LAC Lithium Americas Corp. 0.00% 16,087 $70K Add +18.8%
TMC TMC the Metals Co. Inc. 0.00% 11,035 $68K Reduce -27.4%
PTEN Patterson-Uti Energy Inc. 0.00% 10,000 $61K No change
GANX Gain Therapeutics Inc. 0.00% 12,000 $39K New
MRVI Maravai Lifesciences Hldgs-A 0.00% 10,000 $33K No change
FURY Fury Gold Mines Ltd. 0.00% 47,746 $28K Reduce -24.1%
XPL Solitario Resources Corp. 0.00% 33,333 $23K No change
LUCD Lucid Diagnostics Inc. 0.00% 20,000 $22K Reduce -20.0%
OSISKO DEVELOPMENT CORP 0.00% 120,087 $22K No change
LCTX Lineage Cell Therapeutics Inc. 0.00% 10,000 $17K No change
STRIVE INC 0.00% 15,000 $11K New

Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($78.1M), ISHARES TR calls ($29.0M), VANECK ETF TRUST puts ($24.2M), INVESCO QQQ TR puts ($21.5M), ISHARES SILVER TR calls ($6.9M), SELECT SECTOR SPDR TR puts ($6.6M), BARRICK MNG CORP calls ($2.4M), IAMGOLD CORP calls ($1.1M), EQUINOX GOLD CORP calls ($785K), AMPLIFY ETF TR puts ($776K), NVIDIA CORPORATION puts ($358K), ENDEAVOUR SILVER CORP calls ($123K), and 2 more.

Other holdings (6): bonds, preferreds, convertibles and warrants · $10.8M (not counted above)
SecurityClassShares / PrincipalValueChange
IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 11,300,000$10.4MNo change
LZM.WS Lifezone Metals Ltd. -28 *W EXP 07/05/202 693,408$285KReduce -0.5%
DC.WS Dakota Gold Corp.-26 *W EXP 03/15/202 17,609$64KReduce -47.1%
ASPSW Altisource Portfolio - 30 *W EXP 04/30/203 16,100$7KNo change
FUFUW Bitfufu Inc.-28 *W EXP 03/01/202 15,000$3KNo change
CRGOW Freightos Ltd.-CW28 *W EXP 99/99/999 10,000$1KNo change

Total filed on the 13F, all lines: $2.8B.

Portfolio Sells Q3 2025 → Q4 2025
CDE Coeur Mining Inc. Reduce -18.8% 4.80% −1.69
OR Or Royalties Inc. Reduce -16.3% 3.05% −1.26
AEM Agnico Eagle Mines Ltd. Reduce -17.1% 4.38% −1.10
EMX Emx Royalty Corp. Sold out 0.00% −1.06
WPM Wheaton Precious Metals Corp. Reduce -22.4% 3.78% −1.06
SAND Sandstorm Gold Ltd. Sold out 0.00% −0.72
PAAS Pan American Silver Corp. Reduce -47.7% 1.46% −0.72
BVN Cia DE Minas Buenaventur-ADR Reduce -75.0% 0.26% −0.70
NGD New Gold Inc. Reduce -63.2% 0.49% −0.66
AG First Majestic Silver Corp. Reduce -69.6% 0.37% −0.57
EXK Endeavour Silver Corp. Reduce -45.8% 0.83% −0.50
AGI Alamos Gold Inc. Class A Reduce -27.7% 1.57% −0.48
SSRM SSR Mining Inc. Reduce -2.1% 1.30% −0.25
FNV Franco-Nevada Corp. Reduce -1.2% 1.77% −0.24
SVM Silvercorp Metals Inc. Reduce -80.3% 0.08% −0.23
DVS Dolly Varden Silver Ltd. Reduce -58.5% 0.08% −0.16
NEM Newmont Corp. Reduce -29.3% 0.59% −0.15
HL Hecla Mining Co. Reduce -63.4% 0.17% −0.13
NEWP New Pacific Metals Corp. Reduce -81.9% 0.03% −0.10
GDXJ Vaneck Junior Gold Miners Reduce -82.9% 0.02% −0.09
BTG B2GOLD Corp. Reduce -45.7% 0.08% −0.09
SLV iShares Silver Trust Reduce -52.1% 0.16% −0.07
SGML Sigma Lithium Corp. Sold out 0.00% −0.07
AU Anglogold Ashanti PLC Reduce -16.4% 1.98% −0.06
UROY Uranium Royalty Corp. Reduce -0.6% 0.21% −0.06
LGO Largo Inc. Reduce -42.5% 0.02% −0.04
FHI Federated Hermes Inc. Reduce -0.2% 0.95% −0.04
KGC Kinross Gold Corp. Reduce -9.5% 2.22% −0.04
BTU Peabody Energy Corp. Sold out 0.00% −0.03
SU Suncor Energy Inc. Sold out 0.00% −0.03
LPG Dorian LPG Ltd. Sold out 0.00% −0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.5% 0.47% −0.02
KW Kennedy-Wilson Holdings Inc. Reduce -17.6% 0.24% −0.02
NE Noble Corp. PLC Sold out 0.00% −0.02
CNQ Canadian Natural Resources Sold out 0.00% −0.02
CNL Collective Mining Ltd. Reduce -64.6% 0.01% −0.02
PBR Petroleo Brasileiro-Spon ADR Sold out 0.00% −0.02
HYMC Hycroft Mining Holding Co. Class A Reduce -75.7% 0.17% −0.02
EU Encore Energy Corp. Reduce -44.3% 0.01% −0.02
LZM Lifezone Metals Ltd. Reduce -39.9% 0.01% −0.02
EWZ iShares MSCI Brazil ETF Reduce -58.4% 0.01% −0.02
UUUU Energy Fuels Inc. Reduce -17.6% 0.04% −0.01
SETM Sprott Critical Material ETF Sold out 0.00% −0.01
URNM Sprott Uranium Miners ETF Reduce -5.2% 0.05% −0.01
FMC FMC Corp. Sold out 0.00% −0.01
ETHE Grayscale Ethereum Staking E Reduce -2.9% 0.02% −0.01
DAR Darling Ingredients Inc. Sold out 0.00% −0.01
USAU US Gold Corp. Sold out 0.00% −0.01
VALE Vale SA-SP ADR Reduce -25.3% 0.04% −0.01
SIL Global X Silver Miners ETF Reduce -12.9% 0.20% −0.01

Portfolio Buys Q3 2025 → Q4 2025
B Barrick Mining Corp. Add +282.9% 3.75% +2.98
ELE Elemental Royalty Corp. New 1.15% +1.15
RGLD Royal Gold Inc. Add +175.6% 1.22% +0.80
SII Sprott Inc. Add +0.9% 5.85% +0.71
PSLV Sprott Physical Silver Trust Add +11.9% 1.86% +0.71
OSISKO DEVELOPMENT CORP Add +1700.0% 0.56% +0.52
NFGC New Found Gold Corp. Add +99.1% 0.85% +0.49
CEF Sprott Physical Gold and Sil Add +5.4% 1.15% +0.24
ERO Ero Copper Corp. Add +4.1% 0.82% +0.23
MTA Metalla Royalty & Streaming Add +91.8% 0.40% +0.22
CCJ Cameco Corp. Add +41.9% 0.64% +0.21
NUE Nucor Corp. Add +1.6% 1.18% +0.17
SLB SLB Ltd. New 0.14% +0.14
VNOM Viper Energy Inc. Class A Add +50.0% 0.44% +0.14
METL Sprott Act Metals&miners ETF Add +25.4% 0.41% +0.11
USAS Americas Gold and Silver Cor Add +16.7% 0.30% +0.10
GNTX Gentex Corp. New 0.10% +0.10
STLD Steel Dynamics Inc. Add +1.3% 0.56% +0.08
HRB H&R Block Inc. New 0.08% +0.08
FUND Sprott Focus Trust Inc. Add +1.5% 4.82% +0.07
XOM Exxon Mobil Corp. Add +3.6% 1.06% +0.06
SQM Quimica Y Minera Chil-SP ADR Add +42.6% 0.11% +0.06
SIVR Abrdn Physical Silver Shares Add +24.9% 0.11% +0.05
ALB Albemarle Corp. Add +163.6% 0.06% +0.05
DC Dakota Gold Corp. Add +3.8% 0.23% +0.04
TEN Tsakos Energy Navigation Ltd. New 0.04% +0.04
RS Reliance Inc. Add +11.0% 0.49% +0.04
INSW International Seaways Inc. New 0.04% +0.04
FCX Freeport-McMoran Inc. Add +35.8% 0.08% +0.03
GBUG Sprott Active Gold & Silver Add +0.8% 0.29% +0.03
LNG Cheniere Energy Inc. Add +102.5% 0.08% +0.03
COPX Global X Copper Miners ETF Add +38.1% 0.08% +0.03
HBM Hudbay Minerals Inc. Add +61.9% 0.06% +0.03
NVDA Nvidia Corp. New 0.03% +0.03
BIL SS SPDR BB 1-3M T-Bill ETF Add +6.0% 2.73% +0.03
ASM Avino Silver & Gold Mines Add +34.9% 0.08% +0.03
SPPP Sprott Physical Platinum And Add +14.8% 0.10% +0.03
VCSH Vanguard S/T Corp. Bond ETF Add +21.8% 0.19% +0.03
SILJ Amplify Junior Silver Miners Add +13.9% 0.11% +0.03
CVE Cenovus Energy Inc. New 0.02% +0.02
GDX Vaneck Gold Miners ETF Add +3.1% 0.20% +0.02
NXE Nexgen Energy Ltd. Add +14.6% 0.17% +0.02
TASEKO MINES LTD New 0.02% +0.02
HAFN Hafnia Ltd. New 0.02% +0.02
DNN Denison Mines Corp. Add +30.4% 0.10% +0.02
DVN Devon Energy Corp. Add +203.7% 0.03% +0.02
SBLK Star Bulk Carriers Corp. New 0.02% +0.02
RRC Range Resources Corp. New 0.01% +0.01
AMR Alpha Metallurgical Resource New 0.01% +0.01
OXY Occidental Petroleum Corp. New 0.01% +0.01

Options Activity Q3 2025 → Q4 2025
STATE STR SPDR S&P 500 ETF T put Reduce -39.0% 113,600 $78.1M
ISHARES TR call Add +22.1% 303,600 $29.0M
VANECK ETF TRUST put Add +23.4% 188,400 $24.2M
INVESCO QQQ TR put Add +71.1% 34,900 $21.5M
ISHARES SILVER TR call Add +592.3% 90,000 $6.9M
SELECT SECTOR SPDR TR put Add +408.2% 124,500 $6.6M
ISHARES TR call Sold out 58,500 $5.4Mbefore exit
SPDR GOLD TR put Sold out 10,000 $3.7Mbefore exit
ISHARES TR put Sold out 15,000 $1.4Mbefore exit
ISHARES TR call Sold out 10,000 $1.2Mbefore exit
IAMGOLD CORP call New 60,000 $1.1M
AMPLIFY ETF TR put Add +67.9% 23,500 $776K
BARCLAYS BANK PLC call Sold out 21,000 $720Kbefore exit
HECLA MINING COMPANY call Sold out 15,000 $182Kbefore exit
ENDEAVOUR SILVER CORP call Reduce -87.1% 11,000 $123K
PLATINUM GROUP METALS LTD call New 20,000 $55K
LARGO INC call New 15,000 $19K

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

Notes & Other Activity Q3 2025 → Q4 2025
LZM.WS Lifezone Metals Ltd. -28 *W EXP 07/05/202 Reduce -0.5% 693,408 $285K
DC.WS Dakota Gold Corp.-26 *W EXP 03/15/202 Reduce -47.1% 17,609 $64K
ASPSZ Altisource Portfolio - 29C *W EXP 04/02/202 Sold out 16,100 $9Kbefore exit

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