SPROTT INC.
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 31 quarters, returned +3.9% per quarter — versus +3.2% per quarter from simply owning every 13F stock. It beat that baseline in only 45.2% of quarters (excess t = 0.60, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 228 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| SII | $598M | | ADD |
| FUND | $148M | | HOLD |
| AEM | $139M | | TRIM |
| EQX | $137M | | TRIM |
| CDE | $128M | | TRIM |
| IAG | $124M | | TRIM |
| WPM | $115M | | TRIM |
| OR | $90M | | HOLD |
| BIL | $80M | | ADD |
| PAAS | $78M | | ADD |
| PHYS | $75M | | TRIM |
| KGC | $67M | | HOLD |
| B | $65M | | TRIM |
| PPTA | $64M | | TRIM |
| AU | $61M | | HOLD |
| VZLA | $56M | | TRIM |
| FNV | $56M | | TRIM |
| IAUX | $54M | | ADD |
| EGO | $52M | | TRIM |
| AGI | $49M | | TRIM |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.