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TCMG
TSP Capital Management Group Portfolio holdings
AUM
$418M
1-Year Est. Return
68.45%
This Fund
S&P 500
This Quarter
Est. Return
+16.67%
1 Year Est. Return
+68.45%
3 Year Est. Return
+177.76%
5 Year Est. Return
+247.33%
10 Year Est. Return
+1,387.97%
AUM
$409M
AUM Growth
+$35.6M
(+9.5%)
Cap. Flow
-$396M
Cap. Flow
% of AUM
-96.68%
Top 10 Holdings %
Top 10 Hldgs %
53.51%
Holding
45
New
–
Increased
–
Reduced
–
Closed
44
Top Buys
No buys this quarter
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TMQ
Trilogy Metals
TMQ
|
+$31.6M |
| 2 |
NGD
New Gold Inc
NGD
|
+$29.9M |
| 3 |
Compañía de Minas Buenaventura
BVN
|
+$25M |
| 4 |
Sibanye-Stillwater
SBSW
|
+$22M |
| 5 |
iShares Silver Trust
SLV
|
+$20.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 36.22% |
| 2 | Utilities | 13.32% |
| 3 | Technology | 11.31% |
| 4 | Healthcare | 10.23% |
| 5 | Industrials | 5.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NGD
1
DELISTED
New Gold Inc
NGD
| – | – |
-3,976,626
| Closed | -$29.9M |
|
|
TMQ
2
Trilogy Metals
TMQ
$541M
| – | – |
-6,715,000
| Closed | -$31.6M |
|
|
3
iShares Silver Trust
SLV
$28B
| – | – |
-412,525
| Closed | -$20.7M |
|
|
4
Compañía de Minas Buenaventura
BVN
$7.69B
| – | – |
-1,001,508
| Closed | -$25M |
|
|
5
Sibanye-Stillwater
SBSW
$6.26B
| – | – |
-1,819,625
| Closed | -$22M |
|
6
Maui Land & Pineapple Co
MLP
$344M
| – | – |
-1,099,541
| Closed | -$17.7M |
|
7
CEMIG Preferred Shares
CIG
$6.26B
| – | – |
-9,127,729
| Closed | -$18.7M |
|
8
Adeia
ADEA
$2.94B
| – | – |
-1,001,487
| Closed | -$14.9M |
|
9
Consolidated Water Co
CWCO
$467M
| – | – |
-484,725
| Closed | -$16.9M |
|
10
MannKind Corp
MNKD
$1.21B
| – | – |
-2,983,975
| Closed | -$16.4M |
|
11
SPDR Gold Trust
GLD
$131B
| – | – |
-41,069
| Closed | -$15.7M |
|
12
Nokia
NOK
$51B
| – | – |
-2,473,592
| Closed | -$15.3M |
|
13
Corteva
CTVA
$52.6B
| – | – |
-213,660
| Closed | -$13.8M |
|
14
Xylem
XYL
$27.3B
| – | – |
-88,232
| Closed | -$12.7M |
|
15
Freeport-McMoran
FCX
$90B
| – | – |
-215,925
| Closed | -$9.36M |
|
16
Newmont
NEM
$98.7B
| – | – |
-107,816
| Closed | -$9.74M |
|
17
Celldex Therapeutics
CLDX
$2.99B
| – | – |
-375,927
| Closed | -$9.9M |
|
18
Middlesex Water
MSEX
$1.08B
| – | – |
-119,224
| Closed | -$6.41M |
|
19
Stratasys
SSYS
$679M
| – | – |
-944,350
| Closed | -$9.36M |
|
20
Novavax
NVAX
$1.2B
| – | – |
-1,399,065
| Closed | -$10.5M |
|
21
Waste Management
WM
$90.6B
| – | – |
-41,965
| Closed | -$8.94M |
|
22
Warner Bros
WBD
$65.9B
| – | – |
-332,048
| Closed | -$7.76M |
|
23
Coeur Mining
CDE
$15.4B
| – | – |
-436,125
| Closed | -$7.58M |
|
24
Global Water Resources
GWRS
$206M
| – | – |
-322,577
| Closed | -$3.03M |
|
|
BGH
25
Barings Global Short Duration High Yield Fund
BGH
$282M
| – | – |
-329,932
| Closed | -$4.99M |
|
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TSP Capital Management Group's Q4 2025 Portfolio in Review
As of Q4 2025, TSP Capital Management Group held 45 positions worth $409M, up 9.5% from $374M the previous quarter. Its ten largest holdings account for 54% of the portfolio.
TSP Capital Management Group withdrew a net $396M in Q4 2025, closing 44 positions. Its most notable exit was Trilogy Metals, an estimated $31.6M position sold in full.
By sector, the portfolio is most concentrated in Materials at 36% of assets, up from 34% a quarter earlier, followed by Utilities and Technology.
- TSP Capital Management Group fully exited Trilogy Metals in Q4 2025, selling an estimated $31.6M.
- TSP Capital Management Group's ten largest holdings make up 54% of its $409M portfolio in Q4 2025.
- TSP Capital Management Group opened 0 new positions and closed 44 in Q4 2025.
- TSP Capital Management Group's portfolio value rose 9.5% quarter-over-quarter to $409M.
Based on TSP Capital Management Group's 13F filing for Q4 2025, filed 21 Jan 2026.