Orion Resource Partners LP Quant / Systematic

CIK: 0002032200 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $203,344 (100.0% shares, 0.0% debt)

Holdings (21)

New Positions (4)

AU ANGLOGOLD ASHANTI PLC 1.1%

Value ($000) $2,187 Shares 25,648 Est. Cost $77.50 Unrealized 0.0%

FCX FREEPORT-MCMORAN INC 1.0%

Value ($000) $2,066 Shares 40,668 Est. Cost $43.31 Unrealized 0.0%

STLD STEEL DYNAMICS INC 1.0%

Value ($000) $1,980 Shares 11,684 Est. Cost $158.36 Unrealized 0.0%

GSM FERROGLOBE PLC 0.4%

Value ($000) $858 Shares 184,883 Est. Cost $4.60 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AU	ANGLOGOLD ASHANTI PLC	25,648	$2,187	1.1%	$77.50	0.0%	COM SHS	G0378L100
FCX	FREEPORT-MCMORAN INC	40,668	$2,066	1.0%	$43.31	0.0%	CL B	35671D857
STLD	STEEL DYNAMICS INC	11,684	$1,980	1.0%	$158.36	0.0%	COM	858119100
GSM	FERROGLOBE PLC	184,883	$858	0.4%	$4.60	0.0%	SHS	G33856108

Increased Positions (11)

MEOH METHANEX CORP 2.5%

Value ($000) $5,011 (+157.1%) Shares 126,323 (+157.6%) Est. Cost $36.67 Unrealized +1.4%

B BARRICK MNG CORP 2.1%

Value ($000) $4,189 (+155.2%) Shares 96,183 (+92.0%) Est. Cost $31.03 Unrealized +20.6%

SVM SILVERCORP METALS INC 1.5%

Value ($000) $3,003 (+356.3%) Shares 359,004 (+244.1%) Est. Cost $6.58 Unrealized +10.5%

SQM SOCIEDAD QUIMICA Y MINERA DE 1.3%

Value ($000) $2,734 (+200.8%) Shares 39,744 (+87.9%) Est. Cost $55.06 Unrealized —

EGO ELDORADO GOLD CORP NEW 2.0%

Value ($000) $3,975 (+58.2%) Shares 110,608 (+27.1%) Est. Cost $24.90 Unrealized +20.2%

EQX EQUINOX GOLD CORP 1.0%

Value ($000) $2,046 (+197.6%) Shares 145,589 (+137.1%) Est. Cost $9.64 Unrealized +30.8%

SSRM SSR MINING IN 1.0%

Value ($000) $1,946 (+195.1%) Shares 88,780 (+228.6%) Est. Cost $20.63 Unrealized +7.9%

ASTL ALGOMA STL GROUP INC 0.8%

Value ($000) $1,571 (+217.6%) Shares 381,728 (+173.8%) Est. Cost $4.50 Unrealized -11.5%

NEM NEWMONT CORP 1.0%

Value ($000) $1,947 (+51.9%) Shares 19,495 (+28.3%) Est. Cost $73.97 Unrealized +21.9%

IAG IAMGOLD CORP 1.0%

Value ($000) $2,054 (+34.7%) Shares 124,438 (+5.4%) Est. Cost $9.03 Unrealized +56.0%

CDE COEUR MNG INC 1.0%

Value ($000) $2,036 (-1.8%) Shares 114,205 (+3.3%) Est. Cost $8.06 Unrealized +115.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MEOH	METHANEX CORP	126,323 (+157.6%)	$5,011 (+157.1%)	2.5%	$36.67	+1.4%	COM	59151K108
B	BARRICK MNG CORP	96,183 (+92.0%)	$4,189 (+155.2%)	2.1%	$31.03	+20.6%	COM SHS	06849F108
SVM	SILVERCORP METALS INC	359,004 (+244.1%)	$3,003 (+356.3%)	1.5%	$6.58	+10.5%	COM	82835P103
SQM	SOCIEDAD QUIMICA Y MINERA DE	39,744 (+87.9%)	$2,734 (+200.8%)	1.3%	$55.06	—	SPON ADR SER B	833635105
EGO	ELDORADO GOLD CORP NEW	110,608 (+27.1%)	$3,975 (+58.2%)	2.0%	$24.90	+20.2%	COM	284902509
EQX	EQUINOX GOLD CORP	145,589 (+137.1%)	$2,046 (+197.6%)	1.0%	$9.64	+30.8%	COM	29446Y502
SSRM	SSR MINING IN	88,780 (+228.6%)	$1,946 (+195.1%)	1.0%	$20.63	+7.9%	COM	784730103
ASTL	ALGOMA STL GROUP INC	381,728 (+173.8%)	$1,571 (+217.6%)	0.8%	$4.50	-11.5%	COM	015658107
NEM	NEWMONT CORP	19,495 (+28.3%)	$1,947 (+51.9%)	1.0%	$73.97	+21.9%	COM	651639106
IAG	IAMGOLD CORP	124,438 (+5.4%)	$2,054 (+34.7%)	1.0%	$9.03	+56.0%	COM	450913108
CDE	COEUR MNG INC	114,205 (+3.3%)	$2,036 (-1.8%)	1.0%	$8.06	+115.8%	COM NEW	192108504

Exited Positions (10)

AAUC ALLIED GOLD CORP 48.2%

Value ($000) $98,055 Shares 5,612,312 Est. Cost $12.69 Unrealized +51.8%

NGD NEW GOLD INC CDA 1.4%

Value ($000) $2,826 Shares 393,587 Est. Cost $5.41 Unrealized +39.2%

HBM HUDBAY MINERALS INC 1.2%

Value ($000) $2,532 Shares 167,225 Est. Cost $9.90 Unrealized +70.8%

UUUU ENERGY FUELS INC 0.6%

Value ($000) $1,120 Shares 72,974 Est. Cost $4.91 Unrealized +245.8%

VZLA VIZSLA SILVER CORP 0.4%

Value ($000) $715 Shares 165,673 Est. Cost $3.47 Unrealized +35.4%

URG UR-ENERGY INC 0.3%

Value ($000) $682 Shares 380,934 Est. Cost $1.36 Unrealized +9.2%

PDS PRECISION DRILLING CORP 0.3%

Value ($000) $665 Shares 11,808 Est. Cost $44.50 Unrealized +38.0%

LAR LITHIUM ARGENTINA AG 0.3%

Value ($000) $659 Shares 197,449 Est. Cost $2.07 Unrealized +129.9%

PPTA PERPETUA RESOURCES CORP 0.3%

Value ($000) $645 Shares 31,872 Est. Cost $13.97 Unrealized +76.1%

UEC URANIUM ENERGY CORP 0.3%

Value ($000) $636 Shares 47,684 Est. Cost $5.60 Unrealized +134.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAUC	ALLIED GOLD CORP	5,612,312	$98,055	48.2%	$12.69	+51.8%	—	01921D204
NGD	NEW GOLD INC CDA	393,587	$2,826	1.4%	$5.41	+39.2%	—	644535106
HBM	HUDBAY MINERALS INC	167,225	$2,532	1.2%	$9.90	+70.8%	—	443628102
UUUU	ENERGY FUELS INC	72,974	$1,120	0.6%	$4.91	+245.8%	—	292671708
VZLA	VIZSLA SILVER CORP	165,673	$715	0.4%	$3.47	+35.4%	—	92859G608
URG	UR-ENERGY INC	380,934	$682	0.3%	$1.36	+9.2%	—	91688R108
PDS	PRECISION DRILLING CORP	11,808	$665	0.3%	$44.50	+38.0%	—	74022D407
LAR	LITHIUM ARGENTINA AG	197,449	$659	0.3%	$2.07	+129.9%	—	H5012F103
PPTA	PERPETUA RESOURCES CORP	31,872	$645	0.3%	$13.97	+76.1%	—	714266103
UEC	URANIUM ENERGY CORP	47,684	$636	0.3%	$5.60	+134.2%	—	916896103

Decreased Positions (5)

SLSR SOLARIS RES INC 19.7%

Value ($000) $40,073 (+15.2%) Shares 5,000,000 (-8.3%) Est. Cost $3.45 Unrealized +100.8%

DC DAKOTA GOLD CORP 14.5%

Value ($000) $29,432 (-9.9%) Shares 5,181,766 (-27.8%) Est. Cost $2.67 Unrealized +80.1%

SKE SKEENA RES LTD NEW 32.4%

Value ($000) $65,928 (+3.9%) Shares 2,775,640 (-19.5%) Est. Cost $4.71 Unrealized +318.5%

CCJ CAMECO CORP 1.0%

Value ($000) $2,042 (-10.2%) Shares 22,317 (-17.7%) Est. Cost $77.39 Unrealized +16.2%

ERO ERO COPPER CORP 1.3%

Value ($000) $2,692 (+9.1%) Shares 94,874 (-22.2%) Est. Cost $14.61 Unrealized +59.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SLSR	SOLARIS RES INC	5,000,000 (-8.3%)	$40,073 (+15.2%)	19.7%	$3.45	+100.8%	COM NEW	83419D201
DC	DAKOTA GOLD CORP	5,181,766 (-27.8%)	$29,432 (-9.9%)	14.5%	$2.67	+80.1%	COM	46655E100
SKE	SKEENA RES LTD NEW	2,775,640 (-19.5%)	$65,928 (+3.9%)	32.4%	$4.71	+318.5%	COM	83056P715
CCJ	CAMECO CORP	22,317 (-17.7%)	$2,042 (-10.2%)	1.0%	$77.39	+16.2%	COM	13321L108
ERO	ERO COPPER CORP	94,874 (-22.2%)	$2,692 (+9.1%)	1.3%	$14.61	+59.4%	COM	296006109

Unchanged Positions (1)

IAUX I-80 GOLD CORP 12.6%

Value ($000) $25,574 Shares 17,376,551 Est. Cost $1.13 Unrealized +0.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IAUX	I-80 GOLD CORP	17,376,551	$25,574	12.6%	$1.13	+0.9%	COM	44955L106