Managers / Q1 2026
Orion Resource Partners LP
CIK 0002032200 · 1045 AVENUE OF THE AMERICAS, NEW YORK, NY, 10018 · (212) 596-3497
Summary
Orion Resource Partners LP reported $219M in U.S.-listed holdings across 20 positions for Q1 2026.
The portfolio is heavily concentrated: SKE alone accounts for 37.8% of reported value.
Compared with Q4 2025, the fund opened 6 new positions and exited 7.
Portfolio Metrics
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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 91.0% · $199M
- ADR · 4.7% · $10M
- Other · 4.3% · $9M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CENXCENTURY ALUM CO | NEW | +68.8K | 68.8K | +$4M | $4M |
| FNVFRANCO NEV CORP | NEW | +14.8K | 14.8K | +$4M | $4M |
| NUAGNEW PAC METALS CORP | NEW | +616.8K | 616.8K | +$3M | $3M |
| EAFGRAFTECH INTL LTD SR NT | NEW | +245.7K | 245.7K | +$2M | $2M |
| PPTAPERPETUA RESOURCES CORP | NEW | +56.9K | 56.9K | +$2M | $2M |
| LITHIUM ARGENTINA AG | NEW | +221.3K | 221.3K | +$1M | $1M |
| SQMSOCIEDAD QUIMICA Y MINERA DE | ADDED | +87.6K | 127.4K | +$8M | $10M |
| ANGLOGOLD ASHANTI PLC | ADDED | +55.5K | 81.2K | +$6M | $8M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SKESKEENA RES LTD NEWhistory → | COM | 37.76% | $83M | 2.78M |
| 2 | SLSSOLARIS RES INChistory → | COM NEW | 10.58% | $23M | 2.70M |
| 3 | DCDAKOTA GOLD CORPhistory → | COM | 9.65% | $21M | 4.18M |
| 4 | IAUI-80 GOLD CORPhistory → | COM | 8.69% | $19M | 12.54M |
| 5 | SQMSOCIEDAD QUIMICA Y MINERA DEhistory → | SPON ADR SER B | 4.71% | $10M | 127.4K |
| 6 | ANGLOGOLD ASHANTI PLC | COM SHS | 3.61% | $8M | 81.2K |
| 7 | IMGIAMGOLD CORPhistory → | COM | 3.35% | $7M | 389.9K |
| 8 | SVMSILVERCORP METALS INChistory → | COM | 3.25% | $7M | 662.0K |
| 9 | MEOHMETHANEX CORPhistory → | COM | 2.51% | $5M | 92.1K |
| 10 | SSRMSSR MINING INhistory → | COM | 2.17% | $5M | 161.8K |
| 11 | STLDSTEEL DYNAMICS INChistory → | COM | 2.17% | $5M | 26.4K |
| 12 | CENXCENTURY ALUM COhistory → | COM | 1.85% | $4M | 68.8K |
| 13 | FCXFREEPORT MCMORAN INChistory → | CL B | 1.74% | $4M | 64.9K |
| 14 | FNVFRANCO NEV CORPhistory → | COM | 1.68% | $4M | 14.8K |
| 15 | CCOCAMECO CORPhistory → | COM | 1.56% | $3M | 31.4K |
| 16 | EQXEQUINOX GOLD CORPhistory → | COM | 1.40% | $3M | 211.5K |
| 17 | NUAGNEW PAC METALS CORPhistory → | COM | 1.17% | $3M | 616.8K |
| 18 | EAFGRAFTECH INTL LTD SR NT | COM NEW | 0.76% | $2M | 245.7K |
| 19 | PPTAPERPETUA RESOURCES CORP | COM | 0.73% | $2M | 56.9K |
| 20 | LITHIUM ARGENTINA AG | COM SHS | 0.68% | $1M | 221.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $219M | 20 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $203M | 21 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $275M | 27 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $540M | 24 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $526M | 18 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024REVEALED | $490M | 21 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $735M | 12 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $662M | 18 | Aug 14, 2024 | 13F-HR | changes · 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 ↗.