CIK: 0001413303
Total reported value
$120.4M
Reporting period: 2026-03-31 · Number of holdings: 25
GLOBAL STRATEGIC MANAGEMENT INC disclosed 25 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $120.4M and a quarterly turnover rate of 17.7%.
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Global Strategic Management INC's disclosed holdings carry a Herfindahl concentration index of 0.085 — mathematically equivalent to about 12 equally-sized positions, well below its 25 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.08), 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 2.9 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 57% 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.
Trim B
-41.3% -$2.5M
Add FNV
-3.1% $2.5M
Add AEM
-2.3% $2.0M
Trim MTA
+11.4% -$873.0K
Add EQX
+28.2% $603.0K
Trim IE
-32.4% -$490.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | FNV | Franco-nevada CORP | Stock-Materials | 15.63% | +2.05% | -3.10% | |
| 2 | MTA | Metalla Royalty & Streaming | Stock-Other | 12.71% | -0.78% | +11.38% | |
| 3 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 11.51% | +1.60% | -2.32% | |
| 4 | TFPM | Triple Flag Precious Met | Stock-Materials | 8.72% | -0.23% | -6.47% | |
| 5 | FSM | Fortuna Mining CORP | Stock-Other | 8.02% | +0.31% | +3.79% | |
| 6 | PAAS | Pan American Silver CORP | Stock-Materials | 6.72% | +0.06% | -3.70% | |
| 7 | OR | Or Royalties INC | Stock-Other | 6.68% | -0.02% | -6.41% | |
| 8 | RGLD | Royal Gold INC | Stock-Materials | 4.69% | +0.26% | -7.18% | |
| 9 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 3.95% | +0.09% | -7.67% | |
| 10 | ELE | Elemental Royalty CORP | Stock-Other | 3.89% | -0.06% | -11.91% | |
| 11 | B | Barrick Mining CORP | Stock-Materials | 2.49% | -2.07% | -41.32% | |
| 12 | ✓ | Dakota Gold CORP | Stock-Other | 2.30% | +2.30% | NEW | |
| 13 | EQX | Equinox Gold CORP | Stock-Other | 2.10% | +0.49% | +28.17% | |
| 14 | BTG | B2gold CORP | Stock-Other | 2.05% | +0.06% | +3.44% | |
| 15 | ARCC | Ares Capital CORP | Stock-Financials | 1.54% | -0.31% | -5.61% | |
| 16 | PSLV | Sprott Physical Silver Trust | Stock-Other | 1.53% | +0.03% | — | |
| 17 | ORLA | Orla Mining LTD | Stock-Other | 1.04% | -0.04% | -19.03% | |
| 18 | LAND | Gladstone Land CORP | Stock-Other | 1.03% | -0.15% | -21.58% | |
| 19 | WRN | Western Copper And Gold CORP | Stock-Other | 0.92% | +0.19% | +34.97% | |
| 20 | DEO | Diageo Plc-sponsored Adr | Stock-Consumer Staples | 0.63% | +0.63% | NEW | |
| 21 | GBDC | Golub Capital Bdc INC | Stock-Financials | 0.54% | +0.20% | +69.57% | |
| 22 | CAG | Conagra Brands INC | Stock-Consumer Staples | 0.49% | +0.11% | +41.51% | |
| 23 | IE | Ivanhoe Electric INC / US | Stock-Other | 0.41% | -0.41% | -32.45% | |
| 24 | VMET | Versamet Royalties CORP | Stock-Other | 0.26% | +0.26% | NEW | |
| 25 | IAUX | I-80 Gold CORP | Stock-Other | 0.15% | +0.15% | NEW |
Performance for Q3 2026
-12.7%
Performance Last 4 Quarters
-32.3%
Based on 5 months of available history
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 25 | $120.4M | 18 | |
| 2025-12-31 | 27 | $119.9M | 100 | |
| 2020-12-31 | 36 | $84.9M | 25 | |
| 2020-09-30 | 29 | $77.9M | 26 | |
| 2020-06-30 | 31 | $77.7M | 52 | |
| 2020-03-31 | 34 | $49.1M | 32 | |
| 2019-12-31 | 34 | $64.7M | 79 | |
| 2019-09-30 | 37 | $128.0M | 35 | |
| 2019-06-30 | 31 | $106.2M | 0 | |
| 2019-03-31 | 31 | $106.2M | 19 | |
| 2018-12-31 | 28 | $102.5M | — |
Global Strategic Management INC's most significant position changes for 2026-03-31: Sold out: ; New buy: Dakota Gold CORP; New buy: Diageo Plc-sponsored Adr (DEO); Sold out: Dorchester Minerals LP (DMLP); Sold out: Gladstone Investment CORP (GAIN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | FNV | Franco-nevada CORP | +2.1% | -3.10% | Trim |
| 2 | AEM | Agnico Eagle Mines LTD | +1.6% | -2.32% | Trim |
| 3 | EQX | Equinox Gold CORP | +0.5% | +28.17% | Add |
| 4 | FSM | Fortuna Mining CORP | +0.3% | +3.79% | Add |
| 5 | RGLD | Royal Gold INC | +0.3% | -7.18% | Trim |
| 6 | GBDC | Golub Capital Bdc INC | +0.2% | +69.57% | Add |
| 7 | WRN | Western Copper And Gold CORP | +0.2% | +34.97% | Add |
| 8 | CAG | Conagra Brands INC | +0.1% | +41.51% | Add |
| 9 | WPM | Wheaton Precious Metals CORP | +0.1% | -7.67% | Trim |
| 10 | PAAS | Pan American Silver CORP | +0.1% | -3.70% | Trim |
| 11 | BTG | B2gold CORP | +0.1% | +3.44% | Add |
| 12 | PSLV | Sprott Physical Silver Trust | 0% | — | Unchanged |
| 13 | OR | Or Royalties INC | 0% | -6.41% | Trim |
| 14 | ORLA | Orla Mining LTD | 0% | -19.03% | Trim |
| 15 | ELE | Elemental Royalty CORP | -0.1% | -11.91% | Trim |
| 16 | LAND | Gladstone Land CORP | -0.2% | -21.58% | Trim |
| 17 | TFPM | Triple Flag Precious Met | -0.2% | -6.47% | Trim |
| 18 | ARCC | Ares Capital CORP | -0.3% | -5.61% | Trim |
| 19 | IE | Ivanhoe Electric INC / US | -0.4% | -32.45% | Trim |
| 20 | MTA | Metalla Royalty & Streaming | -0.8% | +11.38% | Add |
| 21 | B | Barrick Mining CORP | -2.1% | -41.32% | Trim |
| 22 | ✓ | — | EXIT | Sold out | |
| 23 | ✓ | Dakota Gold CORP | — | NEW | New buy |
| 24 | DEO | Diageo Plc-sponsored Adr | — | NEW | New buy |
| 25 | DMLP | Dorchester Minerals LP | — | EXIT | Sold out |
| 26 | GAIN | Gladstone Investment CORP | — | EXIT | Sold out |
| 27 | ERO | Ero Copper CORP | — | EXIT | Sold out |
| 28 | PTON | Peloton Interactive Inc-a | — | EXIT | Sold out |
| 29 | SEG | Seaport Entertainment Group | — | EXIT | Sold out |
| 30 | VMET | Versamet Royalties CORP | — | NEW | New buy |
| 31 | IAUX | I-80 Gold CORP | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-10 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-11 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-27 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | Amendment | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-15 | 13F-HR | View on EDGAR |
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