TSP Capital Management Group, LLC

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, TSP Capital Management Group, LLC maintained a portfolio of 45 distinct positions. They heavily accumulated shares in TRILOGY METALS INC N, increasing their position by 0.2%. The fund also reduced its exposure to COMPANIA DE MINAS BU by 17.4%.
PCA Score Concentration Risk
Risk ENB
Total Positions
45
Quarter
2025 Q4
Top Holding
NGD (7.5%)
Top 10 Concentration
53.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 45
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
NGD
NEW GOLD INC CD...
Basic Materials 7.49% 7.64% #1
Prev: #1
5.5 -459,000 -11.5%
P
S
3,517,626 $30,638,524 2016 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TMQ
TRILOGY METALS ...
Basic Materials 7.09% 3.77% #2 10
Prev: #12
4.8 16,000 0.2%
P
S
6,731,000 $29,010,610 2020 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
SLV
ISHARES SILVER ...
ETF 6.38% 4.68% #3 3
Prev: #6
4.1 -7,250 -1.8%
P
S
405,275 $26,107,817 2014 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BVN
COMPANIA DE MIN...
Basic Materials 5.63% 6.52% #4 2
Prev: #2
3.3 -174,140 -17.4%
P
S
827,368 $23,025,655 2004 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SBSW
SIBANYE STILLWA...
Basic Materials 5.46% 5.47% #5 1
Prev: #4
3.2 -251,100 -13.8%
P
S
1,568,525 $22,351,482 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MLP
MAUI LD & PINEA...
Real Estate 4.55% 5.48% #6 3
Prev: #3
2.3 -1,100 -0.1%
P
S
1,098,441 $18,607,591 2007 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CIG
CIA ENERGETICA ...
Preferred 4.42% 5.15% #7 2
Prev: #5
2.3 -74,837 -0.8%
P
S
9,052,892 $18,105,785 2010 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ADEA
ADEIA INC
Technology 4.26% 4.50% #8
Prev: #8
2.2 8,710 0.9%
P
S
1,010,197 $17,425,900 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CWCO
CONSOLIDATED WA...
Utilities 4.13% 4.58% #9 2
Prev: #7
2.2 -5,525 -1.1%
P
S
479,200 $16,910,973 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MNKD
MANNKIND CORP
Healthcare 4.11% 4.29% #10 1
Prev: #9
2.1 -20,800 -0.7%
P
S
2,963,175 $16,801,206 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GLD
SPDR GOLD TR
ETF 3.92% 3.91% #11 1
Prev: #10
2.1 -600 -1.5%
P
S
40,469 $16,038,170 2016 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NOK
NOKIA CORP
Technology 3.90% 3.18% #12 3
Prev: #15
2.1 -7,000 -0.3%
P
S
2,466,592 $15,958,848 2019 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
CTVA
CORTEVA INC
Basic Materials 3.47% 3.87% #13 2
Prev: #11
1.9 -2,068 -1.0%
P
S
211,592 $14,183,007 2019 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
XYL
XYLEM INC
Industrials 2.92% 3.48% #14 1
Prev: #13
1.7 -622 -0.7%
P
S
87,610 $11,930,742 2011 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FCX
FREEPORT-MCMORA...
Basic Materials 2.65% 2.27% #15 5
Prev: #20
1.6 -2,000 -0.9%
P
S
213,925 $10,865,254 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NEM
NEWMONT CORP
Basic Materials 2.60% 2.43% #16 3
Prev: #19
1.5 -1,400 -1.3%
P
S
106,416 $10,625,588 2004 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CLDX
CELLDEX THERAPE...
Healthcare 2.49% 2.60% #17
Prev: #17
1.5 -800 -0.2%
P
S
375,127 $10,188,450 2019 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MSEX
MIDDLESEX WTR C...
Utilities 2.32% 1.73% #18 5
Prev: #23
3.9 68,854 57.8%
P
S
188,078 $9,482,915 2005 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
SSYS
STRATASYS LTD
Technology 2.31% 2.83% #19 3
Prev: #16
2.9 143,800 15.2%
P
S
1,088,150 $9,445,142 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NVAX
NOVAVAX INC
Healthcare 2.28% 3.25% #20 6
Prev: #14
1.4 -10,000 -0.7%
P
S
1,389,065 $9,334,517 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WM
WASTE MGMT INC ...
Industrials 2.24% 2.48% #21 3
Prev: #18
1.4 -200 -0.5%
P
S
41,765 $9,176,190 2004 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WBD
WARNER BROS DIS...
Communication Services 2.20% 1.74% #22
Prev: #22
1.4 -20,200 -6.1%
P
S
311,848 $8,987,473 2008 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CDE
COEUR MNG INC
Basic Materials 1.84% 2.19% #23 2
Prev: #21
1.2 -13,250 -3.0%
P
S
422,875 $7,539,861 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GWRS
GLOBAL WTR RES ...
Utilities 1.56% 0.89% #24 4
Prev: #28
3.6 435,129 134.9%
P
S
757,706 $6,402,615 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BGH
BARINGS GLOBAL ...
Financial Services 1.19% 1.36% #25
Prev: #25
1.0 -5,178 -1.6%
P
S
324,754 $4,874,554 2016 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 45 holdings

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