OR
Orion Resource Partners LP — 13F Portfolio Changes & Top Buys (Q2 2026)
Orion Resource Partners LPCIK: 0002032200
Sector-focusedContrarianQuality / disciplined sizing
Total reported value
$219.4M
Reporting period: 2026-06-30 · Number of holdings: 24
Orion Resource Partners LP disclosed 24 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $219.4M and a quarterly turnover rate of 62.2%.
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Personality snowflake
- Concentration
- 57.88
- Portfolio Stability
- 62.23
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 48
- Sizing Uniformity
- 83.94
Orion Resource Partners LP's disclosed holdings carry a Herfindahl concentration index of 0.145 — mathematically equivalent to about 7 equally-sized positions, well below its 24 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.61), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 17% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out IAUX
New buy VMET
Trim SKE
0.0% -$8.7M
Sold out AU
New buy CGAU
Sold out IAG
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SKE | Skeena Resources LTD | Stock-Other | 33.68% | -4.08% | — | |
| 2 | SLSR | Solaris Resources Inc | Stock-Other | 10.31% | -0.27% | — | |
| 3 | DC | Dakota Gold CORP | Stock-Other | 8.12% | -1.53% | — | |
| 4 | VMET | Versamet Royalties CORP | Stock-Other | 5.76% | +5.76% | NEW | |
| 5 | SQM | Quimica Y Minera Chil-sp Adr | Stock-Other | 4.59% | -0.12% | +6.72% | |
| 6 | CCJ | Cameco CORP | Stock-Energy | 3.63% | +2.07% | +149.38% | |
| 7 | CGAU | Centerra Gold Inc | Stock-Other | 3.56% | +3.56% | NEW | |
| 8 | TECK | Teck Resources Ltd-cls B | Stock-Materials | 3.05% | +3.05% | NEW | |
| 9 | SVM | Silvercorp Metals Inc | Stock-Other | 2.57% | -0.68% | -15.76% | |
| 10 | PDS | Precision Drilling CORP | Stock-Other | 2.19% | +2.19% | NEW | |
| 11 | FLR | Fluor CORP | Stock-Industrials | 2.18% | +2.18% | NEW | |
| 12 | MEOH | Methanex CORP | Stock-Other | 2.03% | -0.48% | +4.82% | |
| 13 | CF | Cf Industries Holdings Inc | Stock-Materials | 2.01% | +2.01% | NEW | |
| 14 | EGO | Eldorado Gold CORP | Stock-Other | 2.00% | +2.00% | NEW | |
| 15 | DNN | Denison Mines CORP | Stock-Other | 1.96% | +1.96% | NEW | |
| 16 | OGC | Oceanagold CORP | Stock-Other | 1.90% | +1.90% | NEW | |
| 17 | FCX | Freeport-mcmoran Inc | Stock-Materials | 1.86% | +0.12% | -0.20% | |
| 18 | HBM | Hudbay Minerals Inc | Stock-Other | 1.84% | +1.84% | NEW | |
| 19 | CENX | Century Aluminum Company | Stock-Materials | 1.76% | -0.09% | +21.69% | |
| 20 | ✓ | Lithium Argentina AG F | Stock-Other | 1.50% | +0.82% | +79.26% | |
| 21 | MOS | Mosaic Co/the | Stock-Materials | 0.94% | +0.94% | NEW | |
| 22 | FNV | Franco-nevada CORP | Stock-Materials | 0.89% | -0.79% | -36.78% | |
| 23 | STLD | Steel Dynamics Inc | Stock-Materials | 0.89% | -1.28% | -67.80% | |
| 24 | NXE | Nexgen Energy LTD | Stock-Other | 0.80% | +0.80% | NEW |
Portfolio Performance
Performance for Q3 2026
+4.2%
Performance Last 4 Quarters
+96.1%
- Stdev
- +48.7%
- Beta
- +1.02
- Alpha
- +60.4%
- Max Drawdown
- -29.9%
- Annualized Perf
- +89.6%
- Batting Avg vs S&P
- +52.4%
- Sortino
- +3.47
- Stutzer
- +0.47
- Treynor
- +0.75
- Sterling
- +2.24
- Calmar
- +2.99
- Information Ratio
- +1.29
- Tracking Error
- +46.9%
- Stdev Down
- +22.1%
- Winning Months %
- +71.4%
- Losing Months %
- +28.6%
- Best 12 Months
- +213.8%
- Worst 12 Months
- +96.1%
- Efficiency Ratio
- +0.84
- Sharpe
- +1.57
- Stdev Sectors
- +23.5%
- Skewness
- 0
- Kurtosis
- -0.64
- Upside Potential
- +4.93
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Orion Resource Partners LP's most significant position changes for 2026-06-30: Sold out: I-80 Gold CORP (IAUX); New buy: Versamet Royalties CORP (VMET); Sold out: AngloGold Ashanti plc (AU); New buy: Centerra Gold Inc (CGAU); Sold out: Iamgold CORP (IAG).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VMET | Versamet Royalties CORP | +5.8% | NEW | New buy |
| 2 | CGAU | Centerra Gold Inc | +3.6% | NEW | New buy |
| 3 | TECK | Teck Resources Ltd-cls B | +3.1% | NEW | New buy |
| 4 | PDS | Precision Drilling CORP | +2.2% | NEW | New buy |
| 5 | FLR | Fluor CORP | +2.2% | NEW | New buy |
| 6 | CCJ | Cameco CORP | +2.1% | +149.38% | Add |
| 7 | CF | Cf Industries Holdings Inc | +2% | NEW | New buy |
| 8 | EGO | Eldorado Gold CORP | +2% | NEW | New buy |
| 9 | DNN | Denison Mines CORP | +2% | NEW | New buy |
| 10 | OGC | Oceanagold CORP | +1.9% | NEW | New buy |
| 11 | HBM | Hudbay Minerals Inc | +1.8% | NEW | New buy |
| 12 | MOS | Mosaic Co/the | +0.9% | NEW | New buy |
| 13 | ✓ | Lithium Argentina AG F | +0.8% | +79.26% | Add |
| 14 | NXE | Nexgen Energy LTD | +0.8% | NEW | New buy |
| 15 | FCX | Freeport-mcmoran Inc | +0.1% | -0.20% | Trim |
| 16 | CENX | Century Aluminum Company | -0.1% | +21.69% | Add |
| 17 | SQM | Quimica Y Minera Chil-sp Adr | -0.1% | +6.72% | Add |
| 18 | SLSR | Solaris Resources Inc | -0.3% | — | Unchanged |
| 19 | MEOH | Methanex CORP | -0.5% | +4.82% | Add |
| 20 | SVM | Silvercorp Metals Inc | -0.7% | -15.76% | Trim |
| 21 | PPTA | Perpetua Resources CORP | -0.7% | EXIT | Sold out |
| 22 | EAF | Graftech International LTD | -0.8% | EXIT | Sold out |
| 23 | FNV | Franco-nevada CORP | -0.8% | -36.78% | Trim |
| 24 | NEWP | New Pacific Metals CORP | -1.2% | EXIT | Sold out |
| 25 | STLD | Steel Dynamics Inc | -1.3% | -67.80% | Trim |
| 26 | EQX | Equinox Gold CORP | -1.4% | EXIT | Sold out |
| 27 | DC | Dakota Gold CORP | -1.5% | — | Unchanged |
| 28 | SSRM | Ssr Mining Inc | -2.2% | EXIT | Sold out |
| 29 | IAG | Iamgold CORP | -3.4% | EXIT | Sold out |
| 30 | AU | AngloGold Ashanti plc | -3.6% | EXIT | Sold out |
| 31 | SKE | Skeena Resources LTD | -4.1% | — | Unchanged |
| 32 | IAUX | I-80 Gold CORP | -8.7% | EXIT | Sold out |
Filing History
FAQ
What is Orion Resource Partners LP and what type of investor is it?
Orion Resource Partners LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $219.4M, spread across 24 disclosed positions.
What are Orion Resource Partners LP's largest equity positions?
Based on the latest 13F filing, Orion Resource Partners LP's top holdings by market value are:
1. Skeena Resources LTD (SKE) — $73.9M (33.7%)
2. Solaris Resources Inc (SLSR) — $22.6M (10.3%)
3. Dakota Gold CORP (DC) — $17.8M (8.1%)
4. Versamet Royalties CORP (VMET) — $12.6M (5.8%)
5. Quimica Y Minera Chil-sp Adr (SQM) — $10.1M (4.6%)
What changes did Orion Resource Partners LP make in its most recent portfolio filing?
In the latest reported quarter, Orion Resource Partners LP made 29 notable position adjustments: 12 new positions were initiated, 5 existing holdings were added to, 4 positions were partially reduced, and 8 were completely exited. The largest of these moves: Sold out: I-80 Gold CORP (IAUX); New buy: Versamet Royalties CORP (VMET); Sold out: AngloGold Ashanti plc (AU); New buy: Centerra Gold Inc (CGAU); Sold out: Iamgold CORP (IAG)
What sectors does Orion Resource Partners LP focus on?
Orion Resource Partners LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Materials: 66.2%
• Energy: 21.1%
• Industrials: 12.7%
Investment Profile
Orion Resource Partners LP returned an annualized 89.6% over the trailing 21 months — outperforming the S&P 500 by 60.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.02 (roughly in line with the market) and a 52% quarterly batting average against the index.
Its portfolio is moderately concentrated and fast-trading, with 66.2% of the portfolio concentrated in Materials.
Its turnover score has risen from 0 to 62 over the past 4 quarters — a shift toward more active trading.
It has added to its CCJ position over the past two quarters (+$5.9M, now $8.0M), while trimming SLSR over the same stretch (-$17.4M, still holding $22.6M).
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