TC
TSP Capital Management Group, LLC Investment Portfolio (Q2 2026) — 13F Stock Holdings
TSP Capital Management Group, LLCCIK: 0001317208
Momentum followerDiversified strategyQuality / disciplined sizing
Total reported value
$418.0M
Reporting period: 2026-06-30 · Number of holdings: 43
TSP Capital Management Group, LLC disclosed 43 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $418.0M and a quarterly turnover rate of 15.2%.
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Personality snowflake
- Concentration
- 15.6
- Portfolio Stability
- 15.24
- Momentum
- 100
- Sector conviction
- 72.48
- Diversification
- 86
- Sizing Uniformity
- 91.67
TSP Capital Management Group, LLC's disclosed holdings carry a Herfindahl concentration index of 0.039 — mathematically equivalent to about 26 equally-sized positions, close to its 43 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.83), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.1 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 40% 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.govAdd MNKD
+18.8% $8.7M
Add NOK
-17.6% $7.2M
Trim BVN
-0.1% -$4.7M
Trim CDE
-0.1% -$4.3M
Add ADEA
-12.5% $4.9M
Trim SLV
0.0% -$3.9M
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 | ADEA | Adeia Inc | Stock-Other | 6.98% | +1.05% | -12.46% | |
| 2 | CDE | Coeur Mining Inc | Stock-Materials | 6.78% | -1.19% | -0.15% | |
| 3 | NOK | Nokia Corp-spon Adr | Stock-Tech | 6.53% | +1.64% | -17.58% | |
| 4 | TMQ | Trilogy Metals Inc | Stock-Other | 5.69% | -0.23% | +0.33% | |
| 5 | BVN | Cia De Minas Buenaventur-adr | Stock-Other | 4.85% | -1.25% | -0.11% | |
| 6 | MLP | Maui Land & Pineapple Co | Stock-Other | 4.67% | +0.53% | -0.28% | |
| 7 | CIG | Cia Energetica De-spon Adr | Stock-Other | 4.58% | -0.74% | — | |
| 8 | CTVA | Corteva Inc | Stock-Materials | 4.29% | -0.03% | -0.01% | |
| 9 | MNKD | Mannkind CORP | Stock-Other | 4.05% | +2.05% | +18.80% | |
| 10 | SLV | Ishares Silver Trust | ETF-Commodities | 3.39% | -1.01% | — | |
| 11 | CWCO | Consolidated Water Co. Ltd. | Stock-Other | 3.38% | -0.49% | — | |
| 12 | CLDX | Celldex Therapeutics Inc | Stock-Other | 3.30% | +0.40% | -1.07% | |
| 13 | FCX | Freeport-mcmoran Inc | Stock-Materials | 3.21% | +0.14% | -0.16% | |
| 14 | NVAX | Novavax Inc | Stock-Healthcare | 3.20% | +0.44% | +2.07% | |
| 15 | MSEX | Middlesex Water Co | Stock-Other | 2.84% | +0.17% | +0.34% | |
| 16 | XYL | Xylem Inc | Stock-Industrials | 2.49% | -0.08% | +0.00% | |
| 17 | NEM | Newmont CORP | Stock-Materials | 2.32% | -0.43% | — | |
| 18 | GWRS | Global Water Resources Inc | Stock-Other | 2.32% | +0.13% | +13.38% | |
| 19 | SSYS | Stratasys Ltd. | Stock-Other | 2.28% | +0.16% | +0.02% | |
| 20 | SBSW | Sibanye-stillwater Ltd-adr | Stock-Other | 2.23% | -0.69% | +12.86% | |
| 21 | WM | Waste Management Inc | Stock-Industrials | 2.21% | -0.11% | — | |
| 22 | WU | Western Union Co | Stock-Financials | 2.07% | -0.26% | +3.05% | |
| 23 | AWK | American Water Works Co Inc | Stock-Utilities | 2.00% | +0.10% | +10.84% | |
| 24 | GLD | Spdr Gold Shares | ETF-Commodities | 1.80% | -0.34% | — | |
| 25 | XPER | Xperi Inc | Stock-Other | 1.73% | +0.61% | +7.04% | |
| 26 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 1.36% | -0.08% | -0.21% | |
| 27 | BGH | Barings Glbl Shrt Dur Hi Yld | Stock-Other | 1.36% | — | -1.66% | |
| 28 | AMX | America Movil Sab De Cv | Stock-Other | 1.18% | — | — | |
| 29 | MRK | Merck & Co. Inc. | Stock-Healthcare | 1.16% | +0.06% | — | |
| 30 | MPV | Barings Participation Invest | Stock-Other | 1.11% | -0.05% | +0.04% | |
| 31 | KYN | Kayne Anderson Energy Infra | Stock-Other | 0.90% | -0.04% | — | |
| 32 | HPI | John Hancock Prefer Inc | Stock-Other | 0.79% | +0.02% | +0.46% | |
| 33 | ENB | Enbridge Inc | Stock-Energy | 0.57% | -0.01% | — | |
| 34 | DUK | Duke Energy CORP | Stock-Utilities | 0.53% | -0.03% | +0.04% | |
| 35 | MCI | Barings Corporate Investors | Stock-Other | 0.36% | +0.01% | +5.40% | |
| 36 | CSCO | Cisco Systems Inc | Stock-Tech | 0.31% | +0.10% | -1.77% | |
| 37 | PBI | Pitney Bowes Inc | Stock-Other | 0.26% | +0.09% | -2.39% | |
| 38 | KRP | Kimbell Royalty Partners LP | Stock-Other | 0.24% | — | — | |
| 39 | MDT | Medtronic plc | Stock-Healthcare | 0.19% | -0.04% | -4.67% | |
| 40 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.17% | -0.01% | — | |
| 41 | PFE | Pfizer Inc | Stock-Healthcare | 0.16% | -0.04% | -3.51% | |
| 42 | WY | Weyerhaeuser Co | Stock-Real Estate | 0.12% | — | — | |
| 43 | CAG | Conagra Brands Inc | Stock-Consumer Staples | 0.04% | -0.01% | — |
Portfolio Performance
Performance for Q3 2026
—
Performance Last 4 Quarters
+23.7%
Based on 0% of reported portfolio value with available pricing
- Stdev
- +15.2%
- Beta
- +0.7
- Alpha
- +11.3%
- Max Drawdown
- -6.5%
- Annualized Perf
- +25.7%
- Batting Avg vs S&P
- +48.1%
- Sortino
- +3.95
- Stutzer
- +0.48
- Treynor
- +0.35
- Sterling
- +1.98
- Calmar
- +3.92
- Information Ratio
- +0.44
- Tracking Error
- +13%
- Stdev Down
- +6.1%
- Winning Months %
- +59.3%
- Losing Months %
- +40.7%
- Best 12 Months
- +36.8%
- Worst 12 Months
- -0.6%
- Efficiency Ratio
- +0.64
- Sharpe
- +1.59
- Stdev Sectors
- +11.9%
- Skewness
- +0.2
- Kurtosis
- -1
- Upside Potential
- +5.81
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 43 | $418.0M | 15 | ||
| 2026 Q1 | 45 | $409.8M | 38 | ||
| 2025 Q4 | 45 | $409.3M | 17 | ||
| 2025 Q3 | 44 | $373.7M | 27 | ||
| 2025 Q2 | 44 | $318.6M | 0 | ||
| 2025 Q1 | 46 | $303.9M | 100 | ||
| 2024 Q4 | 47 | $294.4M | 0 | ||
| 2024 Q3 | 47 | $323.3M | 0 | ||
| 2024 Q2 | 48 | $319.0M | 0 | ||
| 2024 Q1 | 48 | $310.7M | 0 | ||
| 2023 Q4 | 47 | $288.6M | 0 | ||
| 2023 Q3 | 47 | $259.3M | 0 | ||
| 2023 Q2 | 47 | $277.1M | 0 | ||
| 2023 Q1 | 51 | $276.9M | 0 | ||
| 2022 Q4 | 53 | $267.2M | 0 | ||
| 2022 Q3 | 51 | $237.0K | 0 | ||
| 2022 Q2 | 52 | $253.9K | 0 | ||
| 2022 Q1 | 53 | $296.1K | 0 | ||
| 2021 Q4 | 52 | $299.4K | 0 | ||
| 2021 Q3 | 53 | $292.9K | 0 | ||
| 2021 Q2 | 54 | $304.1K | 100 | ||
| 2021 Q1 | 54 | $283.6M | 15 | ||
| 2020 Q4 | 54 | $281.5M | 100 | ||
| 2020 Q3 | 54 | $244.5K | 17 | ||
| 2020 Q2 | 57 | $234.1K | 40 | ||
| 2020 Q1 | 53 | $176.8K | 43 | ||
| 2019 Q4 | 54 | $234.7K | 18 | ||
| 2019 Q3 | 53 | $200.4K | 20 | ||
| 2019 Q2 | 56 | $215.1K | 24 | ||
| 2019 Q1 | 53 | $200.8K | 100 | ||
| 2018 Q4 | 55 | $178.2M | 100 | ||
| 2018 Q3 | 55 | $196.3K | 100 | ||
| 2018 Q2 | 56 | $195.3M | 14 | ||
| 2018 Q1 | 56 | $209.5M | 15 | ||
| 2017 Q4 | 59 | $219.6M | 14 | ||
| 2017 Q3 | 60 | $209.4M | 100 | ||
| 2017 Q2 | 59 | $216.9K | 21 | ||
| 2017 Q1 | 61 | $210.5K | 32 | ||
| 2016 Q4 | 64 | $196.6K | 20 | ||
| 2016 Q3 | 59 | $197.9K | 100 | ||
| 2016 Q2 | 61 | $193.1M | 15 | ||
| 2016 Q1 | 62 | $181.8M | 26 | ||
| 2015 Q4 | 74 | $187.2M | 17 | ||
| 2015 Q3 | 79 | $178.1M | 21 | ||
| 2015 Q2 | 79 | $215.0M | 100 | ||
| 2015 Q1 | 75 | $218.4K | 15 | ||
| 2014 Q4 | 75 | $216.8K | 14 | ||
| 2014 Q3 | 74 | $218.2K | 100 | ||
| 2014 Q2 | 74 | $230.4M | 100 | ||
| 2014 Q1 | 71 | $220.7K | 17 | ||
| 2013 Q4 | 83 | $230.2K | 18 | ||
| 2013 Q3 | 79 | $222.2K | 18 | ||
| 2013 Q2 | 82 | $198.9K | 0 |
Holding changes this quarter
TSP Capital Management Group, LLC's most significant position changes for 2026-06-30: Sold out: Corning Inc (GLW); Sold out: Assertio Holdings Inc (AH30); Add: Mannkind CORP (MNKD) — shares +18.80%; Trim: Nokia Corp-spon Adr (NOK) — shares -17.58%; Trim: Cia De Minas Buenaventur-adr (BVN) — shares -0.11%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MNKD | Mannkind CORP | +2.1% | +18.80% | Add |
| 2 | NOK | Nokia Corp-spon Adr | +1.6% | -17.58% | Trim |
| 3 | ADEA | Adeia Inc | +1.1% | -12.46% | Trim |
| 4 | XPER | Xperi Inc | +0.6% | +7.04% | Add |
| 5 | MLP | Maui Land & Pineapple Co | +0.5% | -0.28% | Trim |
| 6 | NVAX | Novavax Inc | +0.4% | +2.07% | Add |
| 7 | CLDX | Celldex Therapeutics Inc | +0.4% | -1.07% | Trim |
| 8 | MSEX | Middlesex Water Co | +0.2% | +0.34% | Add |
| 9 | SSYS | Stratasys Ltd. | +0.2% | +0.02% | Add |
| 10 | FCX | Freeport-mcmoran Inc | +0.1% | -0.16% | Trim |
| 11 | GWRS | Global Water Resources Inc | +0.1% | +13.38% | Add |
| 12 | AWK | American Water Works Co Inc | +0.1% | +10.84% | Add |
| 13 | CSCO | Cisco Systems Inc | +0.1% | -1.77% | Trim |
| 14 | PBI | Pitney Bowes Inc | +0.1% | -2.39% | Trim |
| 15 | MRK | Merck & Co. Inc. | +0.1% | — | Unchanged |
| 16 | HPI | John Hancock Prefer Inc | 0% | +0.46% | Add |
| 17 | MCI | Barings Corporate Investors | 0% | +5.40% | Add |
| 18 | AMX | America Movil Sab De Cv | — | — | Unchanged |
| 19 | BGH | Barings Glbl Shrt Dur Hi Yld | — | -1.66% | Trim |
| 20 | WY | Weyerhaeuser Co | — | — | Unchanged |
| 21 | KRP | Kimbell Royalty Partners LP | — | — | Unchanged |
| 22 | BMY | Bristol-myers Squibb Co | 0% | — | Unchanged |
| 23 | CAG | Conagra Brands Inc | 0% | — | Unchanged |
| 24 | ENB | Enbridge Inc | 0% | — | Unchanged |
| 25 | CTVA | Corteva Inc | 0% | -0.01% | Trim |
| 26 | DUK | Duke Energy CORP | 0% | +0.04% | Add |
| 27 | PFE | Pfizer Inc | 0% | -3.51% | Trim |
| 28 | MDT | Medtronic plc | 0% | -4.67% | Trim |
| 29 | KYN | Kayne Anderson Energy Infra | 0% | — | Unchanged |
| 30 | MPV | Barings Participation Invest | -0.1% | +0.04% | Add |
| 31 | WBD | Warner Bros Discovery Inc | -0.1% | -0.21% | Trim |
| 32 | XYL | Xylem Inc | -0.1% | +0.00% | Add |
| 33 | WM | Waste Management Inc | -0.1% | — | Unchanged |
| 34 | AH30 | Assertio Holdings Inc | -0.1% | EXIT | Sold out |
| 35 | TMQ | Trilogy Metals Inc | -0.2% | +0.33% | Add |
| 36 | WU | Western Union Co | -0.3% | +3.05% | Add |
| 37 | GLD | Spdr Gold Shares | -0.3% | — | Unchanged |
| 38 | GLW | Corning Inc | -0.4% | EXIT | Sold out |
| 39 | NEM | Newmont CORP | -0.4% | — | Unchanged |
| 40 | CWCO | Consolidated Water Co. Ltd. | -0.5% | — | Unchanged |
| 41 | SBSW | Sibanye-stillwater Ltd-adr | -0.7% | +12.86% | Add |
| 42 | CIG | Cia Energetica De-spon Adr | -0.7% | — | Unchanged |
| 43 | SLV | Ishares Silver Trust | -1% | — | Unchanged |
| 44 | CDE | Coeur Mining Inc | -1.2% | -0.15% | Trim |
| 45 | BVN | Cia De Minas Buenaventur-adr | -1.3% | -0.11% | Trim |
Filing History
FAQ
What is TSP Capital Management Group, LLC and what type of investor is it?
TSP Capital Management Group, LLC 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 $418.0M, spread across 43 disclosed positions.
What are TSP Capital Management Group, LLC's largest equity positions?
Based on the latest 13F filing, TSP Capital Management Group, LLC's top holdings by market value are:
1. Adeia Inc (ADEA) — $29.2M (7.0%)
2. Coeur Mining Inc (CDE) — $28.3M (6.8%)
3. Nokia Corp-spon Adr (NOK) — $27.3M (6.5%)
4. Trilogy Metals Inc (TMQ) — $23.8M (5.7%)
5. Cia De Minas Buenaventur-adr (BVN) — $20.3M (4.8%)
What changes did TSP Capital Management Group, LLC make in its most recent portfolio filing?
In the latest reported quarter, TSP Capital Management Group, LLC made 31 notable position adjustments: 0 new positions were initiated, 15 existing holdings were added to, 14 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Corning Inc (GLW); Sold out: Assertio Holdings Inc (AH30); Add: Mannkind CORP (MNKD) — shares +18.80%; Trim: Nokia Corp-spon Adr (NOK) — shares -17.58%; Trim: Cia De Minas Buenaventur-adr (BVN) — shares -0.11%
What sectors does TSP Capital Management Group, LLC focus on?
TSP Capital Management Group, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Materials: 41.8%
• Information Technology: 17.2%
• Health Care: 12.3%
• Industrials: 11.8%
• Utilities: 6.4%
• Financials: 5.2%
Investment Profile
TSP Capital Management Group, LLC's portfolio is broadly diversified and long-term-holding, with 41.8% of the portfolio concentrated in Materials.
Its turnover score has risen from 0 to 15 over the past 4 quarters — a shift toward more active trading.
It has added to its ADEA position over the past two quarters (+$11.7M, now $29.2M), while trimming SBSW over the same stretch (-$13.0M, still holding $9.3M).
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Developer Access
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REST API
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