MINING FUND DASHBOARD
贝莱德 — 矿业板块最新季度持仓分析
主权/被动指数 · 2026Q2 vs 2026Q1 · 净市值 $50.9B · 137只标的
▲ Top Net Inflows (净增持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▲ FREEPORT MCMORAN INC | Copper / Base Metals | +$332M +4.5% |
| ▲ WHEATON PRECIOUS METALS CORP | Royalty / Streaming | +$305M +110.1% |
| ▲ KAISER ALUMINUM CORP | Aluminum / Base Metals | +$219M +63.9% |
| ▲ COEUR MNG INC | Silver / Gold | +$175M +9.1% |
| ▲ AURA MINERALS INC | Gold / Silver | +$133M +117.5% |
| ▲ MP MATERIALS CORP | Rare Earth | +$114M +16.0% |
| ▲ SOUTHERN COPPER CORP | Copper / Base Metals | +$112M +6.9% |
| ▲ BHP GROUP LTD | Diversified Miners | +$68M +31.2% |
| ▲ MCEWEN INC. | Gold / Silver | +$46M +116.3% |
| ▲ RIO TINTO PLC | Diversified Miners | +$38M +19.5% |
| 🆕 CF INDUSTRIES HOLD | Potash / Fertilizer | 首次建仓 |
| 🆕 SPDR GOLD TR | Gold / Silver ETF | 首次建仓 |
| 🆕 ISHARES GOLD TR | Gold / Silver ETF | 首次建仓 |
| 🆕 MINERALS TECHNOLOGIES INC | Other Mining | 首次建仓 |
| 🆕 USA RARE EARTH INC | Rare Earth | 首次建仓 |
▼ Top Net Outflows (净减持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▼ NEWMONT CORP | Gold / Silver | $-2.4B -17.3% |
| ▼ HECLA MINING COMPANY | Silver / Gold | $-596M -35.4% |
| ▼ ROYAL GOLD INC | Royalty / Streaming | $-487M -18.3% |
| ▼ BARRICK GOLD CORP | Gold / Silver | $-444M -19.5% |
| ▼ ANGLOGOLD ASHANTI PLC | Gold / Silver | $-441M -14.9% |
| ▼ ALBEMARLE CORP | Lithium / Critical Minerals | $-360M -19.8% |
| ▼ ALCOA CORP | Aluminum / Base Metals | $-355M -18.8% |
| ▼ VALE S A | Diversified Miners | $-214M -18.2% |
| ▼ GOLD FIELDS LTD | Gold / Silver | $-180M -22.8% |
| ▼ CORE NATURAL RESOURCES INC | Coal | $-169M -21.8% |
| ✕ GOLDEN ENTMT INC | Gold / Silver | -100.0% |
| ✕ PERMA-FIX ENVIRONMENTAL SVCS | Other Mining | -100.0% |
| ✕ TASEKO MINES LTD | Copper / Base Metals | -100.0% |
| ✕ PRAIRIE OPER CO | Other Mining | -100.0% |
| ✕ ANGEL STUDIOS INC | Other Mining | -100.0% |
◆ Core Holdings & Allocation (核心持仓)
Top 5 重仓股
NEWMONT CORP$11.3B (22.19%)
FREEPORT MCMORAN INC$7.7B (15.19%)
ANGLOGOLD ASHANTI PLC$2.5B (4.93%)
ROYAL GOLD INC$2.2B (4.28%)
COEUR MNG INC$2.1B (4.10%)
商品配置矩阵 (QoQ)
Gold / Silver-6.6%43.1% → 36.5%
Copper / Base Metals+0.8%18.1% → 18.9%
Silver / Gold-1.0%8.8% → 7.8%
Royalty / Streaming-0.3%6.0% → 5.7%
Aluminum / Base Metals-0.4%5.4% → 5.0%
Lithium / Critical Min-0.7%4.0% → 3.3%
Coal-0.6%3.6% → 3.1%
Diversified Miners-0.2%3.4% → 3.2%
📈 增持复盘分析
本季度贝莱德矿业总敞口$50.9B（2026Q2），较上季+$14M(+0.0%)持仓137只矿业标的。主力增仓赛道锁定Gold / Silver ETF，核心敞口集中在Gold / Silver（36.5%权重）。
📉 减持复盘分析
减持端主要动向集中在Gold / Silver板块，其中NEWMONT CORP净流出$-2.4B，反映出对前期拥挤品种的战术性获利了结。整体减仓有序，未见恐慌性清仓信号。
🔄 行业轮动特征
商品配置结构演变：Gold / Silver -6.6%；Gold / Silver ETF +4.1%；Potash / Fertilizer +3.2%。该基金在矿业配置上展现出主权/被动指数的典型特征，以ETF化/指数化被动配置为主逻辑。
⚠ 投研核心关注
出现5只标的清仓，需核实是否为策略性清理｜大额新建仓CF INDUSTRIES HOLD、SPDR GOLD TR、ISHARES GOLD TR，关注后续持仓稳定性
MINING DASHBOARD · BlackRock · 2026Q2 · 2026-08-18 16:10