Filed: 1/21/2026ACC: 0001172661-26-000241
📋 What this filing means
TSP CAPITAL MANAGEMENT GROUP, LLC filed this quarterly 13F‑HR report disclosing 45 equity positions with a total reported market value of $409.26M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
45
Positions
$409.26M
Total AUM (reported)
37.55M
Total Shares
Allocation by class
COM$182.47M44.6%
SPONSORED ADR$61.34M15.0%
COM NEW$46.47M11.4%
ISHARES$26.11M6.4%
SP ADR N-V PFD$18.11M4.4%
ORD$16.91M4.1%
GOLD SHS$16.04M3.9%
Portfolio Concentration
Top 3$85.76M21.0%
4–10$133.23M32.6%
11–25$155.03M37.9%
Rest$35.25M8.6%
Top 3 weight
21.0%
Top 10 weight
53.5%
Voting Authority Distribution
Total shares with voting rights: 37.55M
Sole
Full voting authority
37.55M
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)
Sole45
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings45
Rows:
NEW GOLD INC CDA
SOLEShares3.52M
TypePRN
Market value$30.64M
7.49%
Sole
3.52M
Shared
0.00
None
0.00
TRILOGY METALS INC NEW
SOLEShares6.73M
TypePRN
Market value$29.01M
7.09%
Sole
6.73M
Shared
0.00
None
0.00
ISHARES SILVER TR
SOLEShares405.27K
TypePRN
Market value$26.11M
6.38%
Sole
405.27K
Shared
0.00
None
0.00
COMPANIA DE MINAS BUENAVENTU
SOLEShares827.37K
TypePRN
Market value$23.03M
5.63%
Sole
827.37K
Shared
0.00
None
0.00
SIBANYE STILLWATER LTD
SOLEShares1.57M
TypePRN
Market value$22.35M
5.46%
Sole
1.57M
Shared
0.00
None
0.00
MAUI LD & PINEAPPLE INC
SOLEShares1.10M
TypePRN
Market value$18.61M
4.55%
Sole
1.10M
Shared
0.00
None
0.00
CIA ENERGETICA DE MINAS GERA
SOLEShares9.05M
TypePRN
Market value$18.11M
4.42%
Sole
9.05M
Shared
0.00
None
0.00
ADEIA INC
SOLEShares1.01M
TypePRN
Market value$17.43M
4.26%
Sole
1.01M
Shared
0.00
None
0.00
CONSOLIDATED WATER CO INC
SOLEShares479.20K
TypePRN
Market value$16.91M
4.13%
Sole
479.20K
Shared
0.00
None
0.00
MANNKIND CORP
SOLEShares2.96M
TypePRN
Market value$16.80M
4.11%
Sole
2.96M
Shared
0.00
None
0.00
SPDR GOLD TR
SOLEShares40.47K
TypePRN
Market value$16.04M
3.92%
Sole
40.47K
Shared
0.00
None
0.00
NOKIA CORP
SOLEShares2.47M
TypePRN
Market value$15.96M
3.90%
Sole
2.47M
Shared
0.00
None
0.00
CORTEVA INC
SOLEShares211.59K
TypePRN
Market value$14.18M
3.47%
Sole
211.59K
Shared
0.00
None
0.00
XYLEM INC
SOLEShares87.61K
TypePRN
Market value$11.93M
2.92%
Sole
87.61K
Shared
0.00
None
0.00
FREEPORT-MCMORAN INC
SOLEShares213.93K
TypePRN
Market value$10.87M
2.65%
Sole
213.93K
Shared
0.00
None
0.00
NEWMONT CORP
SOLEShares106.42K
TypePRN
Market value$10.63M
2.60%
Sole
106.42K
Shared
0.00
None
0.00
CELLDEX THERAPEUTICS INC NEW
SOLEShares375.13K
TypePRN
Market value$10.19M
2.49%
Sole
375.13K
Shared
0.00
None
0.00
MIDDLESEX WTR CO
SOLEShares188.08K
TypePRN
Market value$9.48M
2.32%
Sole
188.08K
Shared
0.00
None
0.00
STRATASYS LTD
SOLEShares1.09M
TypePRN
Market value$9.45M
2.31%
Sole
1.09M
Shared
0.00
None
0.00
NOVAVAX INC
SOLEShares1.39M
TypePRN
Market value$9.33M
2.28%
Sole
1.39M
Shared
0.00
None
0.00
WASTE MGMT INC DEL
SOLEShares41.77K
TypePRN
Market value$9.18M
2.24%
Sole
41.77K
Shared
0.00
None
0.00
WARNER BROS DISCOVERY INC
SOLEShares311.85K
TypePRN
Market value$8.99M
2.20%
Sole
311.85K
Shared
0.00
None
0.00
COEUR MNG INC
SOLEShares422.88K
TypePRN
Market value$7.54M
1.84%
Sole
422.88K
Shared
0.00
None
0.00
GLOBAL WTR RES INC
SOLEShares757.71K
TypePRN
Market value$6.40M
1.56%
Sole
757.71K
Shared
0.00
None
0.00
BARINGS GLOBAL SHORT DURATIO
SOLEShares324.75K
TypePRN
Market value$4.87M
1.19%
Sole
324.75K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
NEW GOLD INC CDASOLE | COM | 3.52M | PRN | $30.64M 7.49% | 3.52M | 0.00 | 0.00 |
TRILOGY METALS INC NEWSOLE | COM | 6.73M | PRN | $29.01M 7.09% | 6.73M | 0.00 | 0.00 |
ISHARES SILVER TRSOLE | ISHARES | 405.27K | PRN | $26.11M 6.38% | 405.27K | 0.00 | 0.00 |
COMPANIA DE MINAS BUENAVENTUSOLE | SPONSORED ADR | 827.37K | PRN | $23.03M 5.63% | 827.37K | 0.00 | 0.00 |
SIBANYE STILLWATER LTDSOLE | SPONSORED ADR | 1.57M | PRN | $22.35M 5.46% | 1.57M | 0.00 | 0.00 |
MAUI LD & PINEAPPLE INCSOLE | COM | 1.10M | PRN | $18.61M 4.55% | 1.10M | 0.00 | 0.00 |
CIA ENERGETICA DE MINAS GERASOLE | SP ADR N-V PFD | 9.05M | PRN | $18.11M 4.42% | 9.05M | 0.00 | 0.00 |
ADEIA INCSOLE | COM | 1.01M | PRN | $17.43M 4.26% | 1.01M | 0.00 | 0.00 |
CONSOLIDATED WATER CO INCSOLE | ORD | 479.20K | PRN | $16.91M 4.13% | 479.20K | 0.00 | 0.00 |
MANNKIND CORPSOLE | COM NEW | 2.96M | PRN | $16.80M 4.11% | 2.96M | 0.00 | 0.00 |
SPDR GOLD TRSOLE | GOLD SHS | 40.47K | PRN | $16.04M 3.92% | 40.47K | 0.00 | 0.00 |
NOKIA CORPSOLE | SPONSORED ADR | 2.47M | PRN | $15.96M 3.90% | 2.47M | 0.00 | 0.00 |
CORTEVA INCSOLE | COM | 211.59K | PRN | $14.18M 3.47% | 211.59K | 0.00 | 0.00 |
XYLEM INCSOLE | COM | 87.61K | PRN | $11.93M 2.92% | 87.61K | 0.00 | 0.00 |
FREEPORT-MCMORAN INCSOLE | CL B | 213.93K | PRN | $10.87M 2.65% | 213.93K | 0.00 | 0.00 |
NEWMONT CORPSOLE | COM | 106.42K | PRN | $10.63M 2.60% | 106.42K | 0.00 | 0.00 |
CELLDEX THERAPEUTICS INC NEWSOLE | COM NEW | 375.13K | PRN | $10.19M 2.49% | 375.13K | 0.00 | 0.00 |
MIDDLESEX WTR COSOLE | COM | 188.08K | PRN | $9.48M 2.32% | 188.08K | 0.00 | 0.00 |
STRATASYS LTDSOLE | SHS | 1.09M | PRN | $9.45M 2.31% | 1.09M | 0.00 | 0.00 |
NOVAVAX INCSOLE | COM NEW | 1.39M | PRN | $9.33M 2.28% | 1.39M | 0.00 | 0.00 |
WASTE MGMT INC DELSOLE | COM | 41.77K | PRN | $9.18M 2.24% | 41.77K | 0.00 | 0.00 |
WARNER BROS DISCOVERY INCSOLE | COM SER A | 311.85K | PRN | $8.99M 2.20% | 311.85K | 0.00 | 0.00 |
COEUR MNG INCSOLE | COM NEW | 422.88K | PRN | $7.54M 1.84% | 422.88K | 0.00 | 0.00 |
GLOBAL WTR RES INCSOLE | COM | 757.71K | PRN | $6.40M 1.56% | 757.71K | 0.00 | 0.00 |
BARINGS GLOBAL SHORT DURATIOSOLE | COM | 324.75K | PRN | $4.87M 1.19% | 324.75K | 0.00 | 0.00 |
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