MINING FUND DASHBOARD
猎户座资源 — 矿业板块最新季度持仓分析
商品资源专长 · 2026Q1 vs 2025Q4 · 净市值 $209M · 18只标的
▲ Top Net Inflows (净增持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▲ SKEENA RES LTD NEW | Gold / Silver | +$17M +25.3% |
| ▲ SOCIEDAD QUIMICA Y MINERA DE | Lithium / Critical Minerals | +$8M +277.1% |
| ▲ ANGLOGOLD ASHANTI PLC | Gold / Silver | +$6M +261.4% |
| ▲ IAMGOLD CORP | Gold / Silver | +$5M +256.9% |
| ▲ SILVERCORP METALS INC | Silver / Gold | +$4M +137.0% |
| ▲ SSR MINING IN | Silver / Gold | +$3M +144.1% |
| ▲ FREEPORT MCMORAN INC | Copper / Base Metals | +$2M +84.7% |
| ▲ CAMECO CORP | Uranium | +$1M +66.9% |
| ▲ EQUINOX GOLD CORP | Gold / Silver | +$1M +49.2% |
| 🆕 CENTURY ALUM CO | Aluminum / Base Metals | 首次建仓 |
| 🆕 FRANCO NEV CORP | Royalty / Streaming | 首次建仓 |
| 🆕 NEW PAC METALS CORP | Gold / Silver | 首次建仓 |
| 🆕 GRAFTECH INTERNATIONAL LTD | Steel | 首次建仓 |
| 🆕 PERPETUA RESOURCES CORP | Antimony | 首次建仓 |
▼ Top Net Outflows (净减持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▼ SOLARIS RES INC | Copper / Base Metals | $-17M -42.2% |
| ▼ DAKOTA GOLD CORP | Gold / Silver | $-8M -28.2% |
| ▼ I 80 GOLD CORP | Gold / Silver | $-7M -25.7% |
| ✕ BARRICK GOLD CORP | Gold / Silver | -100.0% |
| ✕ ELDORADO GOLD CORP NEW | Gold / Silver | -100.0% |
| ✕ ERO COPPER CORP | Copper / Base Metals | -100.0% |
| ✕ COEUR MNG INC | Silver / Gold | -100.0% |
| ✕ NEWMONT CORP | Gold / Silver | -100.0% |
◆ Core Holdings & Allocation (核心持仓)
Top 5 重仓股
SKEENA RES LTD NEW$83M (39.61%)
SOLARIS RES INC$23M (11.10%)
DAKOTA GOLD CORP$21M (10.12%)
I-80 GOLD CORP$19M (9.11%)
SOCIEDAD QUIMICA Y MINERA DE$10M (4.94%)
商品配置矩阵 (QoQ)
Gold / Silver-1.1%69.9% → 68.8%
Copper / Base Metals-9.9%22.8% → 12.9%
Silver / Gold+2.1%3.6% → 5.7%
Lithium / Critical Min+4.3%1.4% → 5.7%
Uranium+0.6%1.0% → 1.6%
Steel-0.4%1.2% → 0.8%
Aluminum / Base Metals+1.9%0.0% → 1.9%
Royalty / Streaming+1.8%0.0% → 1.8%
📈 增持复盘分析
本季度猎户座资源矿业总敞口$209M（2026Q1），较上季+$12M(+6.3%)持仓18只矿业标的。主力增仓赛道锁定Gold / Silver，核心敞口集中在Gold / Silver（68.8%权重）。
📉 减持复盘分析
减持端主要动向集中在Gold / Silver板块，其中SOLARIS RES INC净流出$-17M，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：Copper / Base Metals -9.9%；Lithium / Critical Minerals +4.3%；Silver / Gold +2.1%。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5只标的清仓，需核实是否为策略性清理｜板块集中度偏高（Gold / Silver占68.8%），单品类风险敞口需关注
MINING DASHBOARD · Orion Resource · 2026Q1 · 2026-05-28 11:07