Filed: 10/22/2025ACC: 0001172661-25-004363
📋 What this filing means
TSP CAPITAL MANAGEMENT GROUP, LLC filed this quarterly 13F‑HR report disclosing 44 equity positions with a total reported market value of $373.69M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
44
Positions
$373.69M
Total AUM (reported)
38.38M
Total Shares
Allocation by class
COM$159.60M42.7%
SPONSORED ADR$56.72M15.2%
COM NEW$48.84M13.1%
SP ADR N-V PFD$19.26M5.2%
ISHARES$17.48M4.7%
ORD$17.10M4.6%
GOLD SHS$14.60M3.9%
Portfolio Concentration
Top 3$73.41M19.6%
4–10$121.74M32.6%
11–25$144.69M38.7%
Rest$33.84M9.1%
Top 3 weight
19.6%
Top 10 weight
52.2%
Voting Authority Distribution
Total shares with voting rights: 38.38M
Sole
Full voting authority
38.38M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole44
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings44
Rows:
NEW GOLD INC CDA
SOLEShares3.98M
TypeSH
Market value$28.55M
7.64%
Sole
3.98M
Shared
0.00
None
0.00
COMPANIA DE MINAS BUENAVENTU
SOLEShares1M
TypeSH
Market value$24.37M
6.52%
Sole
1M
Shared
0.00
None
0.00
MAUI LD & PINEAPPLE INC
SOLEShares1.10M
TypeSH
Market value$20.50M
5.48%
Sole
1.10M
Shared
0.00
None
0.00
SIBANYE STILLWATER LTD
SOLEShares1.82M
TypeSH
Market value$20.45M
5.47%
Sole
1.82M
Shared
0.00
None
0.00
CIA ENERGETICA DE MINAS GERA
SOLEShares9.13M
TypeSH
Market value$19.26M
5.15%
Sole
9.13M
Shared
0.00
None
0.00
ISHARES SILVER TR
SOLEShares412.52K
TypeSH
Market value$17.48M
4.68%
Sole
412.52K
Shared
0.00
None
0.00
CONSOLIDATED WATER CO INC
SOLEShares484.73K
TypeSH
Market value$17.10M
4.58%
Sole
484.73K
Shared
0.00
None
0.00
ADEIA INC
SOLEShares1M
TypeSH
Market value$16.82M
4.50%
Sole
1M
Shared
0.00
None
0.00
MANNKIND CORP
SOLEShares2.98M
TypeSH
Market value$16.02M
4.29%
Sole
2.98M
Shared
0.00
None
0.00
SPDR GOLD TR
SOLEShares41.07K
TypeSH
Market value$14.60M
3.91%
Sole
41.07K
Shared
0.00
None
0.00
CORTEVA INC
SOLEShares213.66K
TypeSH
Market value$14.45M
3.87%
Sole
213.66K
Shared
0.00
None
0.00
TRILOGY METALS INC NEW
SOLEShares6.71M
TypeSH
Market value$14.10M
3.77%
Sole
6.71M
Shared
0.00
None
0.00
XYLEM INC
SOLEShares88.23K
TypeSH
Market value$13.01M
3.48%
Sole
88.23K
Shared
0.00
None
0.00
NOVAVAX INC
SOLEShares1.40M
TypeSH
Market value$12.13M
3.25%
Sole
1.40M
Shared
0.00
None
0.00
NOKIA CORP
SOLEShares2.47M
TypeSH
Market value$11.90M
3.18%
Sole
2.47M
Shared
0.00
None
0.00
STRATASYS LTD
SOLEShares944.35K
TypeSH
Market value$10.58M
2.83%
Sole
944.35K
Shared
0.00
None
0.00
CELLDEX THERAPEUTICS INC NEW
SOLEShares375.93K
TypeSH
Market value$9.73M
2.60%
Sole
375.93K
Shared
0.00
None
0.00
WASTE MGMT INC DEL
SOLEShares41.97K
TypeSH
Market value$9.27M
2.48%
Sole
41.97K
Shared
0.00
None
0.00
NEWMONT CORP
SOLEShares107.82K
TypeSH
Market value$9.09M
2.43%
Sole
107.82K
Shared
0.00
None
0.00
FREEPORT-MCMORAN INC
SOLEShares215.93K
TypeSH
Market value$8.47M
2.27%
Sole
215.93K
Shared
0.00
None
0.00
COEUR MNG INC
SOLEShares436.13K
TypeSH
Market value$8.18M
2.19%
Sole
436.13K
Shared
0.00
None
0.00
WARNER BROS DISCOVERY INC
SOLEShares332.05K
TypeSH
Market value$6.48M
1.74%
Sole
332.05K
Shared
0.00
None
0.00
MIDDLESEX WTR CO
SOLEShares119.22K
TypeSH
Market value$6.45M
1.73%
Sole
119.22K
Shared
0.00
None
0.00
BARINGS PARTN INVS
SOLEShares285.45K
TypeSH
Market value$5.75M
1.54%
Sole
285.45K
Shared
0.00
None
0.00
BARINGS GLOBAL SHORT DURATIO
SOLEShares329.93K
TypeSH
Market value$5.10M
1.36%
Sole
329.93K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
NEW GOLD INC CDASOLE | COM | 3.98M | SH | $28.55M 7.64% | 3.98M | 0.00 | 0.00 |
COMPANIA DE MINAS BUENAVENTUSOLE | SPONSORED ADR | 1M | SH | $24.37M 6.52% | 1M | 0.00 | 0.00 |
MAUI LD & PINEAPPLE INCSOLE | COM | 1.10M | SH | $20.50M 5.48% | 1.10M | 0.00 | 0.00 |
SIBANYE STILLWATER LTDSOLE | SPONSORED ADR | 1.82M | SH | $20.45M 5.47% | 1.82M | 0.00 | 0.00 |
CIA ENERGETICA DE MINAS GERASOLE | SP ADR N-V PFD | 9.13M | SH | $19.26M 5.15% | 9.13M | 0.00 | 0.00 |
ISHARES SILVER TRSOLE | ISHARES | 412.52K | SH | $17.48M 4.68% | 412.52K | 0.00 | 0.00 |
CONSOLIDATED WATER CO INCSOLE | ORD | 484.73K | SH | $17.10M 4.58% | 484.73K | 0.00 | 0.00 |
ADEIA INCSOLE | COM | 1M | SH | $16.82M 4.50% | 1M | 0.00 | 0.00 |
MANNKIND CORPSOLE | COM NEW | 2.98M | SH | $16.02M 4.29% | 2.98M | 0.00 | 0.00 |
SPDR GOLD TRSOLE | GOLD SHS | 41.07K | SH | $14.60M 3.91% | 41.07K | 0.00 | 0.00 |
CORTEVA INCSOLE | COM | 213.66K | SH | $14.45M 3.87% | 213.66K | 0.00 | 0.00 |
TRILOGY METALS INC NEWSOLE | COM | 6.71M | SH | $14.10M 3.77% | 6.71M | 0.00 | 0.00 |
XYLEM INCSOLE | COM | 88.23K | SH | $13.01M 3.48% | 88.23K | 0.00 | 0.00 |
NOVAVAX INCSOLE | COM NEW | 1.40M | SH | $12.13M 3.25% | 1.40M | 0.00 | 0.00 |
NOKIA CORPSOLE | SPONSORED ADR | 2.47M | SH | $11.90M 3.18% | 2.47M | 0.00 | 0.00 |
STRATASYS LTDSOLE | SHS | 944.35K | SH | $10.58M 2.83% | 944.35K | 0.00 | 0.00 |
CELLDEX THERAPEUTICS INC NEWSOLE | COM NEW | 375.93K | SH | $9.73M 2.60% | 375.93K | 0.00 | 0.00 |
WASTE MGMT INC DELSOLE | COM | 41.97K | SH | $9.27M 2.48% | 41.97K | 0.00 | 0.00 |
NEWMONT CORPSOLE | COM | 107.82K | SH | $9.09M 2.43% | 107.82K | 0.00 | 0.00 |
FREEPORT-MCMORAN INCSOLE | CL B | 215.93K | SH | $8.47M 2.27% | 215.93K | 0.00 | 0.00 |
COEUR MNG INCSOLE | COM NEW | 436.13K | SH | $8.18M 2.19% | 436.13K | 0.00 | 0.00 |
WARNER BROS DISCOVERY INCSOLE | COM SER A | 332.05K | SH | $6.48M 1.74% | 332.05K | 0.00 | 0.00 |
MIDDLESEX WTR COSOLE | COM | 119.22K | SH | $6.45M 1.73% | 119.22K | 0.00 | 0.00 |
BARINGS PARTN INVSSOLE | SH BEN INT | 285.45K | SH | $5.75M 1.54% | 285.45K | 0.00 | 0.00 |
BARINGS GLOBAL SHORT DURATIOSOLE | COM | 329.93K | SH | $5.10M 1.36% | 329.93K | 0.00 | 0.00 |
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