MINING FUND DASHBOARD
VanEck — 矿业板块最新季度持仓分析
商品资源专长 · 2026Q2 vs 2026Q1 · 净市值 $31.1B · 94只标的
▲ Top Net Inflows (净增持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▲ ELDORADO GOLD CORP NEW | Gold / Silver | +$119M +25.9% |
| ▲ AURA MINERALS INC | Gold / Silver | +$90M +92.1% |
| ▲ SILVERCORP METALS INC | Silver / Gold | +$85M +112.2% |
| ▲ HUDBAY MINERALS INC | Zinc / Lead | +$36M +90.8% |
| ▲ MP MATERIALS CORP | Rare Earth | +$34M +15.5% |
| ▲ ISOENERGY LTD | Uranium | +$21M +83.2% |
| ▲ DENISON MINES CORP | Uranium | +$15M +6.0% |
| ▲ CAMECO CORP | Uranium | +$14M +1.8% |
| ▲ NEXGEN ENERGY LTD | Uranium | +$10M +2.8% |
| ▲ BHP GROUP LTD | Diversified Miners | +$5M +25.8% |
| 🆕 AGNICO EAGLE MINES LTD | Gold / Silver | 首次建仓 |
| 🆕 FRANCO NEV CORP | Royalty / Streaming | 首次建仓 |
| 🆕 PAN AMERN SILVER CORP | Silver / Gold | 首次建仓 |
| 🆕 OCEANAGOLD CORP | Gold / Silver | 首次建仓 |
| 🆕 SSR MINING IN | Silver / Gold | 首次建仓 |
▼ Top Net Outflows (净减持)
| 标的名称 | 品类 | 净变动/变动率 |
|---|---|---|
| ▼ KINROSS GOLD CORP | Gold / Silver | $-1.9B -59.7% |
| ▼ NEWMONT CORP | Gold / Silver | $-897M -23.0% |
| ▼ Alamos Gold Inc | Gold / Silver | $-577M -34.9% |
| ▼ BARRICK GOLD CORP | Gold / Silver | $-525M -19.2% |
| ▼ Gold Fields Ltd | Gold / Silver | $-440M -28.2% |
| ▼ Coeur Mining Inc | Silver / Gold | $-426M -28.0% |
| ▼ Equinox Gold Corp | Gold / Silver | $-380M -30.9% |
| ▼ ANGLOGOLD ASHANTI PLC | Gold / Silver | $-366M -20.1% |
| ▼ WHEATON PRECIOUS METALS CORP | Royalty / Streaming | $-258M -13.8% |
| ▼ ROYAL GOLD INC | Royalty / Streaming | $-231M -28.3% |
| ✕ FRANCO-NEVADA CORP | Royalty / Streaming | -100.0% |
| ✕ Pan American Silver Corp | Silver / Gold | -100.0% |
| ✕ Cia de Minas Buenaventura SAA | Gold / Silver | -100.0% |
| ✕ SSR Mining Inc | Silver / Gold | -100.0% |
| ✕ Sociedad Quimica y Minera de C | Lithium / Critical Minerals | -100.0% |
◆ Core Holdings & Allocation (核心持仓)
Top 5 重仓股
AGNICO EAGLE MINES LTD$3.1B (9.98%)
NEWMONT CORP$3.0B (9.64%)
BARRICK GOLD CORP$2.2B (7.09%)
WHEATON PRECIOUS METALS CORP$1.6B (5.21%)
FRANCO NEV CORP$1.5B (4.70%)
商品配置矩阵 (QoQ)
Gold / Silver+0.9%58.4% → 59.3%
Royalty / Streaming-1.3%14.6% → 13.3%
Silver / Gold-1.5%14.6% → 13.1%
Uranium+0.9%5.7% → 6.6%
Lithium / Critical Min+0.0%2.8% → 2.9%
Other Mining-1.4%1.4% → 0.0%
Antimony+0.5%0.5% → 1.0%
Rare Earth+0.2%0.6% → 0.8%
📈 增持复盘分析
本季度VanEck矿业总敞口$31.1B（2026Q2），较上季$-3.8B(-11.0%)持仓94只矿业标的。主力增仓赛道锁定Gold / Silver，核心敞口集中在Gold / Silver（59.3%权重）。
📉 减持复盘分析
减持端主要动向集中在Gold / Silver板块，其中KINROSS GOLD CORP净流出$-1.9B，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：Silver / Gold -1.5%；Other Mining -1.4%；Royalty / Streaming -1.3%。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｜大额新建仓AGNICO EAGLE MINES LTD、FRANCO NEV CORP、PAN AMERN SILVER CORP，关注后续持仓稳定性
MINING DASHBOARD · VanEck · 2026Q2 · 2026-08-18 16:10