Euro Pacific Asset Management, LLC

Long Only Manager

Euro Pacific Asset Management, LLC is a Long Only Manager based in Gig Harbor, WA led by James Ryan Nelson, reporting $1.4B in AUM as of Q3 2025 with 82% Basic Materials concentration and 71% concentrated in top 10 holdings.

Managing PartnerJames Ryan Nelson

Portfolio Value: $670.2M
Positions: 51
Top Holding: AEM at 11.69%
Last Reported: Q3 2025

Address4320 Harborview Dr, Gig Harbor, WA, 98332, United States

Top Holdings

Largest long holdings in Euro Pacific Asset Management, LLC's portfolio (71.1% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Agnico Eagle Mines AEM	Gold Basic Materials	$78.4M	11.69%	-$1.4M Sold	0.09% 464.8K shares	Q4 2019 Held for 5y 11m
2 Barnes Group B	Industrial - Machinery Industrials	$71.1M	10.60%	-$107.9K Sold	0.13% 2.2M shares	Q2 2025 Held for 5 months
3 Franco-Nevada FNV	Gold Basic Materials	$52.2M	7.79%	+$1.2M Bought	0.12% 234.1K shares	Q4 2019 Held for 5y 11m
4 Pan American Silver PAAS	Silver Basic Materials	$51.5M	7.69%	-$29.6K Sold	0.32% 1.3M shares	Q4 2019 Held for 5y 11m
5 Osisko Gold Royalties OR	Gold Basic Materials	$40.9M	6.10%	-$2.3M Sold	0.54% 1.0M shares	Q4 2019 Held for 5y 11m
6 Fortuna Mining FSM	Silver Basic Materials	$39.7M	5.92%	+$68.8K Bought	1.44% 4.4M shares	Q4 2019 Held for 5y 11m
7 B2Gold BTG	Gold Basic Materials	$37.3M	5.57%	+$2.9M Bought	0.57% 7.5M shares	Q4 2019 Held for 5y 11m
8 Newmont NEM	Gold Basic Materials	$36.7M	5.48%	-$2.0M Sold	0.04% 435.7K shares	Q4 2019 Held for 5y 11m
9 Metalla Royalty & Streaming MTA	Other Precious Metals Basic Materials	$36.2M	5.39%	+$226.6K Bought	6.15% 5.7M shares	Q1 2020 Held for 5y 8m
10 Royal Gold RGLD	Gold Basic Materials	$32.2M	4.81%	+$8.9M Bought	0.24% 160.8K shares	Q4 2019 Held for 5y 11m

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Euro Pacific Asset Management, LLC's latest filing

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GthenC

Market Value

$670.2M

Prior: $450.2M

Q/Q Change

+48.87%

+$220.0M

Net Flows % of MV

+3.6%

Turnover Ratio

5.05%

New Purchases

4 stocks

$9.6M

Added To

21 stocks

+$28.6M

Sold Out Of

2 stocks

$224.2K

Reduced Holdings

19 stocks

-$13.9M

Increased Positions

Position	Shares Δ	Change
1 Nu Holdings NU	New	0 → 232.9K +$3.7M
2 Orla Mining ORLA	New	0 → 334.4K +$3.6M
3 Grab Holdings Limited GRAB	New	0 → 379.7K +$2.3M
4 KT Corp. KT	New	0 → - +-
5 AngloGold Ashanti AU	+210.78%	34.8K → 108.2K +$5.2M

Decreased Positions

Position	Shares Δ	Change
1 Exxon Mobil XOM	Sold	2.1K → 0 −$224.2K
2 KT Corp. KT	Sold	0 → - +-
3 SPDR Portfolio S&P 500 ETF SPLG	-34.59%	5.1K → 3.3K −$136.9K
4 i-80 Gold IAUX	-26.97%	7.2M → 5.2M −$1.8M
5 Kinross Gold KGC	-16.73%	932.4K → 776.4K −$3.9M