Managers / Q1 2026
Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.
CIK 0002054965 · Part of the Allianz family · UL. INFLANCKA 4B, WARSZAWA, R9, 00-189 · 01148 224 224 224
Summary
Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. reported $56M in U.S.-listed holdings across 38 positions for Q1 2026.
Its largest position, NEM, represents 10.8% of the portfolio.
Compared with Q4 2025, the fund opened 2 new positions and exited 1.
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, 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
Portfolio Composition
- Common Stock · 90.8% · $51M
- ADR · 9.2% · $5M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BKRBaker Hughes Inc | NEW | +230 | 230 | +$14,042 | $14,042 |
| HALHalliburton Co. | NEW | +330 | 330 | +$12,867 | $12,867 |
| LNGCheniere Energy, Inc. | SOLD OUT | −60 | 0 | −$11,606 | $0 |
| RGLDRoyal Gold Inc | ADDED | +2.0K | 4.0K | +$568,550 | $1M |
| FNVFranco - Nevada Corp | ADDED | +5.4K | 11.5K | +$2M | $3M |
| AGFirst Majestic Silver Corp | TRIMMED | −43.1K | 41.5K | −$540,858 | $891,420 |
| OKEOneok Inc. | TRIMMED | −120 | 130 | −$6,704 | $11,751 |
| AEMAgnico Eagle Mines Ltd | ADDED | +9.1K | 29.7K | +$2M | $6M |
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 | NEMNewmont Mining Corphistory → | Common Stock | 10.81% | $6M | 56.1K |
| 2 | AEMAgnico Eagle Mines Ltdhistory → | Common Stock | 10.72% | $6M | 29.7K |
| 3 | WPMWheaton Precious Metals Corphistory → | Common Stock | 9.38% | $5M | 40.2K |
| 4 | BBarrick Gold Corphistory → | Common Stock | 9.15% | $5M | 126.1K |
| 5 | KGCKinross Gold Corphistory → | Common Stock | 7.64% | $4M | 140.6K |
| 6 | AUAnglogold Ashantihistory → | Common Stock | 5.48% | $3M | 32.1K |
| 7 | GFIGold Fields Ltd.history → | ADR | 5.41% | $3M | 67.0K |
| 8 | PAASPan American Silver Corphistory → | Common Stock | 5.38% | $3M | 55.4K |
| 9 | FNVFranco - Nevada Corphistory → | Common Stock | 5.06% | $3M | 11.5K |
| 10 | AGIAlamos Gold Inc-Class Ahistory → | Common Stock | 4.48% | $3M | 56.7K |
| 11 | EQXEquinox Gold Corphistory → | Common Stock | 3.28% | $2M | 127.7K |
| 12 | SSRMSsr Mining Inchistory → | Common Stock | 2.95% | $2M | 56.3K |
| 13 | HMYHarmony Gold Mng - Spon ADRhistory → | ADR | 2.70% | $2M | 98.7K |
| 14 | CGAUCenterra Gold Inchistory → | Common Stock | 2.49% | $1M | 78.9K |
| 15 | BTGB2Gold Corphistory → | Common Stock | 2.49% | $1M | 308.2K |
| 16 | FSMFortuna Silver Mines Inchistory → | Common Stock | 2.23% | $1M | 125.9K |
| 17 | EGOEldorado Gold Corphistory → | Common Stock | 2.04% | $1M | 33.5K |
| 18 | RGLDRoyal Gold Inchistory → | Common Stock | 1.82% | $1M | 4.0K |
| 19 | HLHecla Mining Cohistory → | Common Stock | 1.73% | $970,623 | 52.1K |
| 20 | SVMSilvercorp Metals Inchistory → | Common Stock | 1.68% | $944,355 | 88.0K |
| 21 | AGFirst Majestic Silver Corphistory → | Common Stock | 1.59% | $891,420 | 41.5K |
| 22 | DRDDrdgold Ltd - Sponsored ADRhistory → | ADR | 1.04% | $584,463 | 19.9K |
| 23 | VLOVALERO ENERGY CORP | Common Stock | 0.04% | $24,708 | 100 |
| 24 | MPCMarathon Petroleum Corporation | Common Stock | 0.04% | $24,418 | 100 |
| 25 | PSXPhillips 66 | Common Stock | 0.04% | $23,683 | 130 |
| 26 | KMIKINDER MORGAN INC | Common Stock | 0.03% | $19,112 | 570 |
| 27 | WMBWilliams COS INC | Common Stock | 0.03% | $18,195 | 250 |
| 28 | EXMOCExxon Mobil Corporation | Common Stock | 0.03% | $16,966 | 100 |
| 29 | CVXChevron Corporation | Common Stock | 0.03% | $16,552 | 80 |
| 30 | OXYOccidental Petroleum Corp | Common Stock | 0.03% | $15,600 | 240 |
| 31 | BKRBaker Hughes Inc | Common Stock | 0.02% | $14,042 | 230 |
| 32 | SLBSchlumberger Ltd | Common Stock | 0.02% | $13,361 | 260 |
| 33 | EOGEOG Resources INC | Common Stock | 0.02% | $13,011 | 90 |
| 34 | HALHalliburton Co. | Common Stock | 0.02% | $12,867 | 330 |
| 35 | OKEOneok Inc. | Common Stock | 0.02% | $11,751 | 130 |
| 36 | DVNDevon Energy Corp. | Common Stock | 0.02% | $11,574 | 230 |
| 37 | EQTEQT CORP | Common Stock | 0.02% | $11,455 | 180 |
| 38 | COPConocophillips | Common Stock | 0.02% | $11,267 | 120 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $56M | 38 | Apr 9, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $47M | 37 | Jan 21, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $41M | 37 | Oct 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $21M | 38 | Jul 29, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $39M | 39 | May 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $34M | 38 | Feb 20, 2025 | RESTATEMENT | 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 ↗.