TSP Capital Management Group, LLC In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), TSP Capital Management Group, LLC reported 0 stock positions worth $0 . Compared with Q3 2025, it sold out of 44. The biggest sale was an exit from New Gold (NGD).
Location Summit, NJ
CIK 0001317208
Portfolio Value $0 (Q4 2025) Holdings 0 stocks · $0 Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 None this quarter.
Other holdings (45): bonds, preferreds, convertibles and warrants · $409.3M (not counted above) Security Class Shares / Principal Value Change NGD New Gold Inc. COM · principal 3,517,626 $30.6M New TMQ Trilogy Metals Inc. COM · principal 6,731,000 $29.0M New SLV iShares Silver Trust ISHARES · principal 405,275 $26.1M New BVN Cia DE Minas Buenaventur-ADR SPONSORED ADR · principal 827,368 $23.0M New SBSW Sibanye-Stillwater Ltd.-ADR SPONSORED ADR · principal 1,568,525 $22.4M New MLP Maui Land & Pineapple Co. COM · principal 1,098,441 $18.6M New CIG Cia Energetica DE-Spon ADR SP ADR N-V PFD · principal 9,052,892 $18.1M New ADEA Adeia Inc. COM · principal 1,010,197 $17.4M New CWCO Consolidated Water Co.-Ord SH ORD · principal 479,200 $16.9M New MNKD Mannkind Corp. COM NEW · principal 2,963,175 $16.8M New GLD SPDR Gold Shares GOLD SHS · principal 40,469 $16.0M New NOK Nokia Corp.-Spon ADR SPONSORED ADR · principal 2,466,592 $16.0M New CTVA Corteva Inc. COM · principal 211,592 $14.2M New XYL Xylem Inc. COM · principal 87,610 $11.9M New FCX Freeport-McMoran Inc. CL B · principal 213,925 $10.9M New NEM Newmont Corp. COM · principal 106,416 $10.6M New CLDX Celldex Therapeutics Inc. COM NEW · principal 375,127 $10.2M New MSEX Middlesex Water Co. COM · principal 188,078 $9.5M New SSYS Stratasys Ltd. SHS · principal 1,088,150 $9.4M New NVAX Novavax Inc. COM NEW · principal 1,389,065 $9.3M New WM Waste Management Inc. COM · principal 41,765 $9.2M New WBD Warner Bros Discovery Inc. COM SER A · principal 311,848 $9.0M New CDE Coeur Mining Inc. COM NEW · principal 422,875 $7.5M New GWRS Global Water Resources Inc. COM · principal 757,706 $6.4M New BGH Barings GLBL SHRT Dur Hi YLD COM · principal 324,754 $4.9M New MPV Barings Participation Invest SH BEN INT · principal 280,095 $4.5M New MRK Merck & Co. Inc. COM · principal 37,594 $4.0M New AMX America Movil Sab DE CV SPON ADS RP CL B · principal 188,671 $3.9M New WU Western Union Co. COM · principal 353,075 $3.3M New KYN Kayne Anderson Energy Infra COM · principal 257,725 $3.2M New ENB Enbridge Inc. COM · principal 44,251 $2.1M New HPI John Hancock Prefer Inc. SH BEN INT · principal 129,360 $2.1M New DUK Duke Energy Corp. COM NEW · principal 17,614 $2.1M New AWK American Water Works Co. Inc. COM · principal 11,950 $1.6M New MCI Barings Corporate Investors COM · principal 85,435 $1.6M New GLW Corning Inc. COM · principal 15,000 $1.3M New XPER Xperi Inc. COMMON STOCK · principal 219,898 $1.3M New CSCO Cisco Systems Inc. COM · principal 11,300 $870K New KRP Kimbell Royalty Partners LP UNIT · principal 67,850 $798K New PFE Pfizer Inc. COM · principal 28,500 $710K New PBI Pitney Bowes Inc. COM · principal 62,800 $664K New BMY Bristol-Myers Squibb Co. COM · principal 12,175 $657K New WY Weyerhaeuser Co. COM NEW · principal 13,111 $311K New CAG Conagra Brands Inc. COM · principal 13,650 $236K New ASRT Assertio Holdings Inc. COM NEW · principal 25,056 $227K New
Total filed on the 13F, all lines: $409.3M.
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ NGD New Gold Inc. Sold out — −7.64 BVN Cia DE Minas Buenaventur-ADR Sold out — −6.52 MLP Maui Land & Pineapple Co. Sold out — −5.48 SBSW Sibanye-Stillwater Ltd.-ADR Sold out — −5.47 CIG Cia Energetica DE-Spon ADR Sold out — −5.15 SLV iShares Silver Trust Sold out — −4.68 CWCO Consolidated Water Co.-Ord SH Sold out — −4.58 ADEA Adeia Inc. Sold out — −4.50 MNKD Mannkind Corp. Sold out — −4.29 GLD SPDR Gold Shares Sold out — −3.91 CTVA Corteva Inc. Sold out — −3.87 TMQ Trilogy Metals Inc. Sold out — −3.77 XYL Xylem Inc. Sold out — −3.48 NVAX Novavax Inc. Sold out — −3.25 NOK Nokia Corp.-Spon ADR Sold out — −3.18 SSYS Stratasys Ltd. Sold out — −2.83 CLDX Celldex Therapeutics Inc. Sold out — −2.60 WM Waste Management Inc. Sold out — −2.48 NEM Newmont Corp. Sold out — −2.43 FCX Freeport-McMoran Inc. Sold out — −2.27 CDE Coeur Mining Inc. Sold out — −2.19 WBD Warner Bros Discovery Inc. Sold out — −1.74 MSEX Middlesex Water Co. Sold out — −1.73 MPV Barings Participation Invest Sold out — −1.54 BGH Barings GLBL SHRT Dur Hi YLD Sold out — −1.36 AMX America Movil Sab DE CV Sold out — −1.09 WU Western Union Co. Sold out — −0.99 GWRS Global Water Resources Inc. Sold out — −0.89 KYN Kayne Anderson Energy Infra Sold out — −0.87 MRK Merck & Co. Inc. Sold out — −0.85 HPI John Hancock Prefer Inc. Sold out — −0.61 ENB Enbridge Inc. Sold out — −0.60 DUK Duke Energy Corp. Sold out — −0.58 MCI Barings Corporate Investors Sold out — −0.48 XPER Xperi Inc. Sold out — −0.42 GLW Corning Inc. Sold out — −0.33 PFE Pfizer Inc. Sold out — −0.30 KRP Kimbell Royalty Partners LP Sold out — −0.24 CSCO Cisco Systems Inc. Sold out — −0.21 BMY Bristol-Myers Squibb Co. Sold out — −0.21 PBI Pitney Bowes Inc. Sold out — −0.19 WY Weyerhaeuser Co. Sold out — −0.09 ASRT Assertio Holdings Inc. Sold out — −0.07 CAG Conagra Brands Inc. Sold out — −0.05
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ None this quarter.
Notes & Other Activity Q3 2025 → Q4 2025 Security Class Change vs Q3 2025 Shares / Principal Value ▼ NGD New Gold Inc. COM · principal New 3,517,626 $30.6M TMQ Trilogy Metals Inc. COM · principal New 6,731,000 $29.0M SLV iShares Silver Trust ISHARES · principal New 405,275 $26.1M BVN Cia DE Minas Buenaventur-ADR SPONSORED ADR · principal New 827,368 $23.0M SBSW Sibanye-Stillwater Ltd.-ADR SPONSORED ADR · principal New 1,568,525 $22.4M MLP Maui Land & Pineapple Co. COM · principal New 1,098,441 $18.6M CIG Cia Energetica DE-Spon ADR SP ADR N-V PFD · principal New 9,052,892 $18.1M ADEA Adeia Inc. COM · principal New 1,010,197 $17.4M CWCO Consolidated Water Co.-Ord SH ORD · principal New 479,200 $16.9M MNKD Mannkind Corp. COM NEW · principal New 2,963,175 $16.8M GLD SPDR Gold Shares GOLD SHS · principal New 40,469 $16.0M NOK Nokia Corp.-Spon ADR SPONSORED ADR · principal New 2,466,592 $16.0M CTVA Corteva Inc. COM · principal New 211,592 $14.2M XYL Xylem Inc. COM · principal New 87,610 $11.9M FCX Freeport-McMoran Inc. CL B · principal New 213,925 $10.9M NEM Newmont Corp. COM · principal New 106,416 $10.6M CLDX Celldex Therapeutics Inc. COM NEW · principal New 375,127 $10.2M MSEX Middlesex Water Co. COM · principal New 188,078 $9.5M SSYS Stratasys Ltd. SHS · principal New 1,088,150 $9.4M NVAX Novavax Inc. COM NEW · principal New 1,389,065 $9.3M WM Waste Management Inc. COM · principal New 41,765 $9.2M WBD Warner Bros Discovery Inc. COM SER A · principal New 311,848 $9.0M CDE Coeur Mining Inc. COM NEW · principal New 422,875 $7.5M GWRS Global Water Resources Inc. COM · principal New 757,706 $6.4M BGH Barings GLBL SHRT Dur Hi YLD COM · principal New 324,754 $4.9M MPV Barings Participation Invest SH BEN INT · principal New 280,095 $4.5M MRK Merck & Co. Inc. COM · principal New 37,594 $4.0M AMX America Movil Sab DE CV SPON ADS RP CL B · principal New 188,671 $3.9M WU Western Union Co. COM · principal New 353,075 $3.3M KYN Kayne Anderson Energy Infra COM · principal New 257,725 $3.2M ENB Enbridge Inc. COM · principal New 44,251 $2.1M HPI John Hancock Prefer Inc. SH BEN INT · principal New 129,360 $2.1M DUK Duke Energy Corp. COM NEW · principal New 17,614 $2.1M AWK American Water Works Co. Inc. COM · principal New 11,950 $1.6M MCI Barings Corporate Investors COM · principal New 85,435 $1.6M GLW Corning Inc. COM · principal New 15,000 $1.3M XPER Xperi Inc. COMMON STOCK · principal New 219,898 $1.3M CSCO Cisco Systems Inc. COM · principal New 11,300 $870K KRP Kimbell Royalty Partners LP UNIT · principal New 67,850 $798K PFE Pfizer Inc. COM · principal New 28,500 $710K PBI Pitney Bowes Inc. COM · principal New 62,800 $664K BMY Bristol-Myers Squibb Co. COM · principal New 12,175 $657K WY Weyerhaeuser Co. COM NEW · principal New 13,111 $311K CAG Conagra Brands Inc. COM · principal New 13,650 $236K ASRT Assertio Holdings Inc. COM NEW · principal New 25,056 $227K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 43 $418.0M ADEA, CDE, NOK, TMQ, BVN Q1 2026 0 $0 Q4 2025 0 $0 Q3 2025 44 $373.7M NGD, BVN, MLP, SBSW, CIG Q2 2025 0 $0 Q1 2025 46 $303.9M NGD, MLP, CIG, BVN, SLV Q4 2024 47 $294.4M MLP, CIG, MNKD, NGD, ADEA Q3 2024 47 $323.3M MLP, CIG, NGD, NVAX, LLY Q2 2024 48 $319.0M MLP, NGD, NVAX, BVN, LLY Q1 2024 48 $310.7M MLP, BVN, NGD, CIG, LLY