TSP Capital Management Group, LLC Q4 2025 Filing

Filed January 21, 2026

Portfolio Value

$409.3M

Holdings

45

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (45 positions)

#StockSharesValue% PortfolioType
1
NGDNEW GOLD INC CDA
3,517,626$30.6M7.49%
2
TMQTRILOGY METALS INC NEW
6,731,000$29.0M7.09%
3
SLVISHARES SILVER TR
405,275$26.1M6.38%
4
BVNCOMPANIA DE MINAS BUENAVENTU
827,368$23.0M5.63%
5
SBSWSIBANYE STILLWATER LTD
1,568,525$22.4M5.46%
6
MLPMAUI LD & PINEAPPLE INC
1,098,441$18.6M4.55%
7
CIGCIA ENERGETICA DE MINAS GERA
9,052,892$18.1M4.42%
8
ADEAADEIA INC
1,010,197$17.4M4.26%
9
CWCOCONSOLIDATED WATER CO INC
479,200$16.9M4.13%
10
MNKDMANNKIND CORP
2,963,175$16.8M4.11%
11
GQ9SPDR GOLD TR
40,469$16.0M3.92%
12
NOKNOKIA CORP
2,466,592$16.0M3.90%
13
CTVACORTEVA INC
211,592$14.2M3.47%
14
XYLXYLEM INC
87,610$11.9M2.91%
15
FCXFREEPORT-MCMORAN INC
213,925$10.9M2.65%
16
NEMNEWMONT CORP
106,416$10.6M2.60%
17
TCE2CELLDEX THERAPEUTICS INC NEW
375,127$10.2M2.49%
18
MSEXMIDDLESEX WTR CO
188,078$9.5M2.32%
19
SSYSSTRATASYS LTD
1,088,150$9.4M2.31%
20
NVV1NOVAVAX INC
1,389,065$9.3M2.28%
21
WMWASTE MGMT INC DEL
41,765$9.2M2.24%
22
WBDWARNER BROS DISCOVERY INC
311,848$9.0M2.20%
23
CDECOEUR MNG INC
422,875$7.5M1.84%
24
GWRSGLOBAL WTR RES INC
757,706$6.4M1.56%
25
BGHBARINGS GLOBAL SHORT DURATIO
324,754$4.9M1.19%
26
MPVBARINGS PARTN INVS
280,095$4.5M1.09%
27
MRKMERCK & CO INC
37,594$4.0M0.97%
28
AMXAMERICA MOVIL SAB DE CV
188,671$3.9M0.95%
29
W3UWESTERN UN CO
353,075$3.3M0.80%
30
KYNKAYNE ANDERSON ENERGY INFRST
257,725$3.2M0.78%
31
ENBENBRIDGE INC
44,251$2.1M0.52%
32
HPIHANCOCK JOHN PFD INCOME FD
129,360$2.1M0.51%
33
DUKDUKE ENERGY CORP NEW
17,614$2.1M0.50%
34
AWCAMERICAN WTR WKS CO INC NEW
11,950$1.6M0.38%
35
MCIBARINGS CORPORATE INVS
85,435$1.6M0.38%
36
GLWCORNING INC
15,000$1.3M0.32%
37
XPERXPERI INC
219,898$1.3M0.31%
38
CSCOCISCO SYS INC
11,300$870K0.21%
39
KRPKIMBELL RTY PARTNERS LP
67,850$797K0.19%
40
PFEPFIZER INC
28,500$709K0.17%
41
PBIPITNEY BOWES INC
62,800$663K0.16%
42
BMYBRISTOL-MYERS SQUIBB CO
12,175$656K0.16%
43
WYWEYERHAEUSER CO MTN BE
13,111$310K0.08%
44
CAGCONAGRA BRANDS INC
13,650$236K0.06%
45
ASRTASSERTIO HOLDINGS INC
25,056$227K0.06%