MINING FUND DASHBOARD
格林罗森基金 — 矿业板块最新季度持仓分析
商品资源专长 · 2026Q1 vs 2025Q4 · 净市值 $543M · 19只标的
▲ Top Net Inflows (净增持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▲ CORE NATURAL RESOURCES INC | Coal | +$47M +176.8% |
| ▲ ALPHA METALLURGICAL RESOUR I | Coal | +$34M +215.1% |
| ▲ CAMECO CORP | Uranium | +$28M +45.4% |
| ▲ MOSAIC CO | Potash / Fertilizer | +$13M +116.4% |
| ▲ ENERGY FUELS INC | Uranium | +$9M +51.6% |
| ▲ URANIUM ENERGY CORP | Uranium | +$8M +39.8% |
| ▲ NEXGEN ENERGY LTD | Uranium | +$7M +50.3% |
| ▲ DENISON MINES CORP | Uranium | +$6M +58.5% |
| ▲ SIBANYE STILLWATER LTD | Platinum Group Metals | +$2M +4.3% |
| ▲ ALAMOS GOLD INC | Gold / Silver | +$388K +1.3% |
| 🆕 WARRIOR MET COAL INC | Coal | 首次建仓 |
▼ Top Net Outflows (净减持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▼ ORLA MNG LTD NEW | Gold / Silver | $-8M -75.2% |
| ▼ FREEPORT MCMORAN INC | Copper / Base Metals | $-5M -40.0% |
| ▼ IVANHOE ELECTRIC INC | Copper / Base Metals | $-4M -12.5% |
| ▼ EQUINOX GOLD CORP | Gold / Silver | $-2M -10.0% |
| ▼ NOVAGOLD RESOURCES INC | Gold / Silver | $-1M -16.5% |
| ▼ CALEDONIA MNG CORP PLC | Gold / Silver | $-864K -20.0% |
| ▼ TRIPLE FLAG PRECIOUS METAL | Royalty / Streaming | $-169K -7.5% |
| ✕ HUDBAY MINERALS INC | Zinc / Lead | -100.0% |
| ✕ SKEENA RES LTD NEW | Gold / Silver | -100.0% |
| ✕ PAN AMERN SILVER CORP | Silver / Gold | -100.0% |
◆ Core Holdings & Allocation (核心持仓)
Top 5 重仓股
CAMECO CORP$91M (16.73%)
CORE NATURAL RESOURCES INC$74M (13.66%)
WARRIOR MET COAL INC$56M (10.26%)
SIBANYE STILLWATER LTD$53M (9.69%)
ALPHA METALLURGICAL RESOUR I$50M (9.15%)
商品配置矩阵 (QoQ)
Uranium+1.9%32.3% → 34.1%
Coal+22.2%10.9% → 33.1%
Gold / Silver-10.8%22.1% → 11.3%
Platinum Group Metals-3.2%12.9% → 9.7%
Copper / Base Metals-4.9%12.0% → 7.1%
Potash / Fertilizer+1.6%2.8% → 4.3%
Zinc / Lead-4.2%4.2% → 0.0%
Silver / Gold-2.3%2.3% → 0.0%
📈 增持复盘分析
本季度格林罗森基金矿业总敞口$543M（2026Q1），较上季+$152M(+38.9%)持仓19只矿业标的。主力增仓赛道锁定Coal，核心敞口集中在Uranium（34.1%权重）。
📉 减持复盘分析
减持端主要动向集中在Gold / Silver板块，其中ORLA MNG LTD NEW净流出$-8M，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：Coal +22.2%；Gold / Silver -10.8%；Copper / Base Metals -4.9%。该基金在矿业配置上展现出商品资源专长的典型特征，以商品周期择时为主逻辑。
⚠ 投研核心关注
出现3只标的清仓，需核实是否为策略性清理｜大额新建仓WARRIOR MET COAL INC，关注后续持仓稳定性
MINING DASHBOARD · Goehring & Rozencwajg · 2026Q1 · 2026-05-28 11:07