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 · 2026Q2 vs 2026Q1 · 净市值 $191M · 19只标的

▲ Top Net Inflows (净增持)
标的名称品类净变动/变动率
▲ CAMECO CORPUranium+$5M +133.9%
▲ LITHIUM ARGENTINA AGLithium / Critical Minerals+$2M +121.9%
▲ FREEPORT MCMORAN INCCopper / Base Metals+$259K +6.8%
🆕 CENTERRA GOLD INCGold / Silver首次建仓
🆕 TECK RESOURCES LTDDiversified Miners首次建仓
🆕 CF INDUSTRIES HOLDPotash / Fertilizer首次建仓
🆕 ELDORADO GOLD CORP NEWGold / Silver首次建仓
🆕 DENISON MINES CORPUranium首次建仓
▼ Top Net Outflows (净减持)
标的名称品类净变动/变动率
▼ SKEENA RES LTD NEWGold / Silver$-9M -10.6%
▼ DAKOTA GOLD CORPGold / Silver$-3M -15.6%
▼ FRANCO NEV CORPRoyalty / Streaming$-2M -46.8%
▼ SILVERCORP METALS INCSilver / Gold$-1M -20.7%
▼ SOLARIS RES INCCopper / Base Metals$-540K -2.3%
▼ SOCIEDAD QUIMICA Y MINERA DELithium / Critical Minerals$-246K -2.4%
▼ CENTURY ALUM COAluminum / Base Metals$-186K -4.6%
✕ I-80 GOLD CORPGold / Silver-100.0%
✕ ANGLOGOLD ASHANTI PLCGold / Silver-100.0%
✕ IAMGOLD CORPGold / Silver-100.0%
✕ SSR MINING INSilver / Gold-100.0%
✕ EQUINOX GOLD CORPGold / Silver-100.0%
◆ Core Holdings & Allocation (核心持仓)
Top 5 重仓股
SKEENA RES LTD NEW$74M (38.73%)
SOLARIS RES INC$23M (11.86%)
DAKOTA GOLD CORP$18M (9.34%)
SOCIEDAD QUIMICA Y MINERA DE$10M (5.27%)
CAMECO CORP$8M (4.18%)
商品配置矩阵 (QoQ)
Gold / Silver-12.2%68.8% → 56.6%
Copper / Base Metals+1.1%12.9% → 14.0%
Lithium / Critical Min+1.3%5.7% → 7.0%
Silver / Gold-2.7%5.7% → 3.0%
Uranium+5.7%1.6% → 7.3%
Aluminum / Base Metals+0.1%1.9% → 2.0%
Diversified Miners+3.5%0.0% → 3.5%
Potash / Fertilizer+3.4%0.0% → 3.4%

📈 增持复盘分析

本季度猎户座资源矿业总敞口$191M（2026Q2），较上季$-18M(-8.5%)持仓19只矿业标的。主力增仓赛道锁定Gold / Silver，核心敞口集中在Gold / Silver（56.6%权重）。

📉 减持复盘分析

减持端主要动向集中在Gold / Silver板块，其中SKEENA RES LTD NEW净流出$-9M，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 -12.2%；Uranium +5.7%；Diversified Miners +3.5%。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

MINING DASHBOARD · Orion Resource · 2026Q2 · 2026-08-18 16:10