SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Euro Pacific Asset Management, LLC

CIK 0001796651 · LOTS 81-82, STREET C, STE. 206, DORADO, PR, 00646 · 949-878-8057

Reported Value
$901M
Q4 2025
Positions
93
Filings on Record
30
2019–present window
Filed
Jan 21, 2026
amendment (RESTATEMENT)

Summary

Euro Pacific Asset Management, LLC reported $901M in U.S.-listed holdings across 93 positions for Q4 2025.

Its largest position, AEM, represents 8.1% of the portfolio.

Compared with Q3 2025, the fund opened 9 new positions and exited 5.

Portfolio Metrics

Turnover
+5.7%
vs prior filed quarter
Top-10 Concentration
+52.9%
share of reported value
Largest Position
+8.1%
Agnico Eagle Mines
New / Exited
9 / 5
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’19: $277MQ4 ’19Q1 ’20: $302MQ3 ’20: $395MQ4 ’20: $412MQ1 ’21: $389MQ1 ’21Q2 ’21: $410MQ3 ’21: $383MQ4 ’21: $444MQ1 ’22: $510MQ1 ’22Q2 ’22: $422MQ3 ’22: $381MQ4 ’22: $446MQ1 ’23: $466MQ1 ’23Q2 ’23: $458MQ3 ’23: $427MQ4 ’23: $468MQ1 ’24: $491MQ1 ’24Q2 ’24: $505MQ3 ’24: $543MQ4 ’24: $464MQ1 ’25: $551MQ1 ’25Q2 ’25: $1.1BQ3 ’25: $829MQ4 ’25: $901MQ1 ’26: $1.0BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 80.3%ADR: 16.1%ETP: 3.5%Closed-End Fund: 0.0%MLP: 0.0%REIT: 0.0%
  • Common Stock · 80.3% · $723M
  • ADR · 16.1% · $145M
  • ETP · 3.5% · $31M
  • Closed-End Fund · 0.0% · $420,000
  • MLP · 0.0% · $239,000
  • REIT · 0.0% · $213,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ELEELEMENTAL ROYALTY CORPNEW+968.5K968.5K+$16M$16M
ACNACCENTURE PLC-CL ANEW+36.0K36.0K+$10M$10M
ULUNILEVER PLC-SPONSORED ADRNEW+66.8K66.8K+$4M$4M
FMCFMC CORPNEW+157.3K157.3K+$2M$2M
SNYSANOFI-ADRNEW+43.7K43.7K+$2M$2M
MICCMAGNUM ICE CREAM CO NV/THENEW+14.9K14.9K+$237,000$237,000
BVNCIA DE MINAS BUENAVENTUR-ADRNEW+7.3K7.3K+$207,000$207,000
GDXJVANECK JUNIOR GOLD MINERSNEW+3.0K3.0K+$205,000$205,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

93 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AEMAGNICO EAGLE MINES LTDhistory →COM8.08%$73M455.1K
2BBARRICK MINING CORPhistory →COM7.53%$68M1.75M
3PAASPAN AMERICAN SILVER CORPhistory →COM6.84%$62M1.29M
4FNVFRANCO-NEVADA CORPhistory →COM5.18%$47M237.0K
5MTAMETALLA ROYALTY & STREAMINGhistory →COM NEW4.83%$43M5.74M
6FSMFORTUNA MINING CORPhistory →COM NEW4.80%$43M4.46M
7RGLDROYAL GOLD INChistory →COM4.01%$36M164.4K
8OROR ROYALTIES INChistory →COM SHS4.01%$36M1.03M
9BTIBRITISH AMERICAN TOB-SP ADRhistory →SPONSORED ADR3.86%$35M657.9K
10BTGB2GOLD CORPhistory →COM3.77%$34M7.58M
11WPMWHEATON PRECIOUS METALS CORPhistory →COM3.68%$33M285.9K
12NEMNEWMONT CORPhistory →COM3.27%$29M365.6K
13EQXEQUINOX GOLD CORPhistory →COM2.91%$26M1.91M
14IAGIAMGOLD CORPhistory →COM2.45%$22M1.34M
15NVONOVO-NORDISK A/S-SPONS ADRhistory →ADR2.26%$20M346.1K
16KGCKINROSS GOLD CORPhistory →COM2.00%$18M762.3K
17DCDAKOTA GOLD CORPhistory →COM1.91%$17M3.05M
18TFPMTRIPLE FLAG PRECIOUS METhistory →COM1.89%$17M521.1K
19OUNZVANECK MERK GOLD ETFhistory →GOLD TRUST1.84%$17M398.1K
20ELEELEMENTAL ROYALTY CORPhistory →COM NEW1.83%$16M968.5K
21BPBP PLC-SPONS ADRhistory →SPONSORED ADR1.30%$12M362.2K
22SHELSHELL PLC-ADRhistory →SPON ADS1.29%$12M162.8K
23ORLAORLA MINING LTDhistory →COM1.27%$11M867.5K
24BNSBANK OF NOVA SCOTIAhistory →COM1.22%$11M173.6K
25AUANGLOGOLD ASHANTI PLChistory →COM SHS1.17%$11M122.9K
26ACNACCENTURE PLC-CL Ahistory →SHS CL A1.13%$10M36.0K
27GSKGSK PLC-SPON ADRhistory →SPONSORED ADR1.05%$9M210.8K
28SPROTT PHYSICAL GOLD AND SILTR UNIT0.95%$9M285.3K
29PMPHILIP MORRIS INTERNATIONALCOM0.90%$8M46.9K
30EQNREQUINOR ASA-SPON ADRSPONSORED ADR0.87%$8M318.4K
31ABEVAMBEV SA-ADRSPONSORED ADR0.83%$7M3.04M
32TLKTELKOM INDONESIA PERSERO-ADRSPONSORED ADR0.77%$7M380.2K
33SPROTT PHYSICAL SILVER TRUSTTR UNIT0.75%$7M307.1K
34IEIVANHOE ELECTRIC INC / USCOM0.74%$7M430.4K
35NTRNUTRIEN LTDCOM0.69%$6M103.3K
36VALEVALE SA-SP ADRSPONSORED ADS0.63%$6M488.7K
37NVSNOVARTIS AG-SPONSORED ADRSPONSORED ADR0.61%$5M42.2K
38ULUNILEVER PLC-SPONSORED ADRSPON ADR NEW0.48%$4M66.8K
39NUNU HOLDINGS LTD/CAYMAN ISL-AORD SHS CL A0.40%$4M233.6K
40FEMBFIRST TRUST EMERGING MARKETSEME MRK BD ETF0.39%$4M117.2K
41ASMLASML HOLDING NV-NY REG SHSN Y REGISTRY SHS0.34%$3M2.9K
42BCEBCE INCCOM NEW0.32%$3M125.9K
43BHPBHP GROUP LTD-SPON ADRSPONSERED ADS0.32%$3M58.3K
44RIORIO TINTO PLC-SPON ADRSPONSORED ADR0.31%$3M47.8K
45WRNWESTERN COPPER AND GOLD CORPCOM0.31%$3M1.04M
46SKMSK TELECOM CO LTD-SPON ADRSPONSORED ADR0.28%$3M123.8K
47FMCFMC CORPCOM NEW0.24%$2M157.3K
48AQNALGONQUIN POWER & UTILITIESCOM0.24%$2M354.1K
49SNYSANOFI-ADRSPONSORED ADR0.23%$2M43.7K
50IGOVISHARES INTERNATIONAL TREASUINTL TREA BD ETF0.23%$2M48.9K
51BBDBANCO BRADESCO-ADRSP ADR PFD NEW0.22%$2M595.2K
52GRABGRAB HOLDINGS LTD - CL ACLASS A ORD0.21%$2M377.7K
53ITUBITAU UNIBANCO H-SPON PRF ADRSPON ADR REP PFD0.15%$1M189.8K
54BWXSPDR BLOOMBERG INT TREASURYBLOOMBERG INTL T0.15%$1M57.3K
55SPROTT PHYSICAL GOLD TRUSTUNIT0.14%$1M48.2K
56INFYINFOSYS LTD-SP ADRSPONSORED ADR0.13%$1M67.0K
57HLNHALEON PLC-ADRSPON ADS0.10%$930,00089.6K
58IAUISHARES GOLD TRUSTISHARES NEW0.10%$873,00010.8K
59ASRGRUPO AEROPORTUARIO SUR-ADRSPON ADR SER B0.09%$852,0002.6K
60ACWXISHARES MSCI ACWI EX US ETFMSCI ACWI EX US0.09%$828,00012.3K
61GDXVANECK GOLD MINERS ETFGOLD MINERS ETF0.09%$826,00013.4K
62QUALISHARES MSCI USA QUALITY FACMSCI USA QLT FCT0.09%$822,0004.1K
63DEODIAGEO PLC-SPONSORED ADRSPON ADR NEW0.08%$710,0007.4K
64TSMTAIWAN SEMICONDUCTOR-SP ADRSPONSORED ADS0.08%$700,0002.7K
65VWOBVANGUARD EMERG MKTS GOV BNDEM MK GOV BD ETF0.07%$673,00010.3K
66USHYISHARES BROAD USD HIGH YIELDBROAD USD HIGH0.07%$608,00016.2K
67MELIMERCADOLIBRE INCCOM0.07%$605,000298
68GFIGOLD FIELDS LTD-SPONS ADRSPONSORED ADR0.07%$604,00013.7K
69PSKSS SPDR ICE PREF SEC ETFICE PFD SEC ETF0.07%$604,00019.0K
70AGIALAMOS GOLD INC-CLASS ACOM CL A0.06%$524,00014.2K
71JAAAJANUS HENDERSON AAA CLO ETFHENDRSON AAA CL0.06%$507,00010.0K
72USFRWISDOMTREE FLOATING RATE TREFLOATING RAT TREA0.05%$463,0009.2K
73ENBENBRIDGE INCCOM0.05%$461,00010.2K
74XFRAXBLACKROCK FLTNG RT INC STRATCOM0.05%$420,00032.0K
75AGFIRST MAJESTIC SILVER CORPCOM0.04%$379,00038.7K
76HYINWISDOMTREE PRV CRD & ALT INCALTRNTVE INCM FD0.04%$369,00021.4K
77SPYMSTATE STREET SPDR PORTFOLIOPORTFOLIO S&P5000.04%$347,0004.3K
78IBMINTL BUSINESS MACHINES CORPCOM0.03%$271,000921
79URAGLOBAL X URANIUM ETFGLOBAL X URANIUM0.03%$249,0006.4K
80GLDSPDR GOLD SHARESGOLD SHS0.03%$247,000656
81ETENERGY TRANSFER LPCOM UT LTD PTN0.03%$239,00013.2K
82MICCMAGNUM ICE CREAM CO NV/THEORD SHS0.03%$237,00014.9K
83SAPSAP SE-SPONSORED ADRSPON ADR0.02%$213,000870
84OHIOMEGA HEALTHCARE INVESTORSCOM0.02%$213,0005.8K
85BVNCIA DE MINAS BUENAVENTUR-ADRSPONSORED ADR0.02%$207,0007.3K
86GDXJVANECK JUNIOR GOLD MINERSJUNIOR GOLD MINE0.02%$205,0003.0K
87VODVODAFONE GROUP PLC-SP ADRSPONSORED ADR0.02%$194,00014.6K
88EXKENDEAVOUR SILVER CORPCOM0.02%$160,00032.5K
89CXCEMEX SAB-SPONS ADR PART CERSPON ADR NEW0.02%$150,00012.7K
90VIVTELEFONICA BRASIL-ADRNEW ADR0.01%$131,00010.5K
91UMCUNITED MICROELECTRON-SP ADRSPON ADR NEW0.01%$120,00014.7K
92WITWIPRO LTD-ADRSPON ADR 1 SH0.01%$98,00033.1K
93IAUXI-80 GOLD CORPCOM0.00%$21,00066.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.0B96May 6, 202613F-HRchanges · EDGAR ↗
Q4 2025$901M93Jan 21, 2026RESTATEMENTchanges · EDGAR ↗
Q3 2025$829M89Oct 14, 202513F-HRchanges · EDGAR ↗
Q2 2025REVEALED$1.1B163Jul 22, 202513F-HRchanges · EDGAR ↗
Q1 2025$551M79May 9, 202513F-HRchanges · EDGAR ↗
Q4 2024$464M71Jan 21, 202513F-HRchanges · EDGAR ↗
Q3 2024$543M75Nov 6, 202413F-HRchanges · EDGAR ↗
Q2 2024$505M68Jul 30, 202413F-HRchanges · EDGAR ↗
Q1 2024$491M72May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$468M68Jan 31, 202413F-HRchanges · EDGAR ↗
Q3 2023$427M68Nov 6, 202313F-HRchanges · EDGAR ↗
Q2 2023$458M66Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$466M66May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$446M71Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$381M60Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$422M64Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$510M62May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$444M62Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$383M56Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$410M48Aug 6, 202113F-HRchanges · EDGAR ↗
Q1 2021$389M51May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$412M54Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$395M53Nov 18, 2020RESTATEMENTchanges · EDGAR ↗
Q2 2020Under review47Nov 13, 2020RESTATEMENTchanges · EDGAR ↗
Q1 2020$302M42May 7, 202013F-HRchanges · EDGAR ↗
Q4 2019$277M41Feb 14, 202013F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.