MINING FUND DASHBOARD
先锋领航 — 矿业板块最新季度持仓分析
主权/被动指数 · 2026Q2 vs 2026Q1 · 净市值 $59.5B · 119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 | +$587M +7.8% |
| ▲ CIPHER DIGITAL INC | Diversified Miners | +$532M +101.9% |
| ▲ COEUR MNG INC | Silver / Gold | +$201M +15.5% |
| ▲ KAISER ALUMINUM CORP | Aluminum / Base Metals | +$187M +74.1% |
| ▲ USA RARE EARTH INC | Rare Earth | +$159M +95.3% |
| ▲ TECK RESOURCES LTD | Diversified Miners | +$140M +13.9% |
| ▲ MP MATERIALS CORP | Rare Earth | +$120M +17.1% |
| ▲ NOVAGOLD RESOURCES INC | Gold / Silver | +$102M +49100.9% |
| ▲ HUDBAY MINERALS INC | Zinc / Lead | +$90M +27.6% |
| ▲ ALMONTY INDS INC | Antimony | +$58M +55.4% |
| 🆕 OCEANAGOLD CORP | Gold / Silver | 首次建仓 |
| 🆕 ELEMENTAL RTY CORP | Royalty / Streaming | 首次建仓 |
| 🆕 WHITEHAWK MINERALS CORP | Other Mining | 首次建仓 |
| 🆕 VISTA GOLD CORP | Gold / Silver | 首次建仓 |
| 🆕 IONEER LTD | Lithium / Critical Minerals | 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 | $-1.8B -14.1% |
| ▼ AGNICO EAGLE MINES LTD | Gold / Silver | $-846M -20.6% |
| ▼ ALBEMARLE CORP | Lithium / Critical Minerals | $-642M -24.0% |
| ▼ ROYAL GOLD INC | Royalty / Streaming | $-451M -21.0% |
| ▼ ANGLOGOLD ASHANTI PLC | Gold / Silver | $-352M -16.3% |
| ▼ ALCOA CORP | Aluminum / Base Metals | $-343M -19.8% |
| ▼ KINROSS GOLD CORP | Gold / Silver | $-333M -22.2% |
| ▼ CF INDUSTRIES HOLD | Potash / Fertilizer | $-327M -13.2% |
| ▼ WHEATON PRECIOUS METALS CORP | Royalty / Streaming | $-310M -12.9% |
| ▼ FRANCO NEV CORP | Royalty / Streaming | $-284M -14.3% |
| ✕ TASEKO MINES LTD | Copper / Base Metals | -100.0% |
| ✕ GOLDEN ENTMT INC | Gold / Silver | -100.0% |
| ✕ SPROTT FDS TR | Gold / Silver ETF | -100.0% |
◆ Core Holdings & Allocation (核心持仓)
Top 5 重仓股
NEWMONT CORP$10.9B (18.33%)
FREEPORT MCMORAN INC$8.1B (13.68%)
AGNICO EAGLE MINES LTD$3.3B (5.47%)
BARRICK GOLD CORP$2.5B (4.23%)
CF INDUSTRIES HOLD$2.1B (3.60%)
商品配置矩阵 (QoQ)
Gold / Silver-2.4%40.3% → 37.9%
Copper / Base Metals+2.0%12.2% → 14.3%
Royalty / Streaming-0.8%10.6% → 9.8%
Potash / Fertilizer-0.5%8.1% → 7.6%
Silver / Gold+0.2%6.9% → 7.1%
Uranium-0.1%5.3% → 5.2%
Lithium / Critical Min-0.7%4.2% → 3.5%
Aluminum / Base Metals+0.0%3.7% → 3.7%
📈 增持复盘分析
本季度先锋领航矿业总敞口$59.5B（2026Q2），较上季$-5.7B(-8.7%)持仓119只矿业标的。主力增仓赛道锁定Diversified Miners，核心敞口集中在Gold / Silver（37.9%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$-1.8B，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 -2.4%；Copper / Base Metals +2.0%；Diversified Miners +1.3%。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3只标的清仓，需核实是否为策略性清理｜大额新建仓OCEANAGOLD CORP，关注后续持仓稳定性
MINING DASHBOARD · Vanguard · 2026Q2 · 2026-08-18 16:10