GLOBAL STRATEGIC MANAGEMENT INC

CIK 0001413303 · Q2 2026

13F Equity AUM

$130K

+7.6% QoQ

Positions

+1 QoQ

AUM Rank

#12,430

Top 99%

Skill Alpha (FF)

-2.3%/yr^ns

No Clear Edge

Rank #6,153 · Top 74%

vs S&P +4.4%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 60.4%Top 10: 83.4%Top 20: 97.8%

BTO18.0%

MTA15.1%

FNV12.3%

AEM8.5%

FVI6.5%

TFPM6.0%

OR5.2%

PAAS4.8%

RGLD3.7%

ELE3.3%

Others (16)16.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Basic Materials86.0%

Financial Services8.4%

Other5.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 26Median: 1.59%Avg: 3.85%

0–0.5%

4(1.1%)

0.5–1%

5(3.7%)

1–3%

6(8.8%)

3–5%

4(14.8%)

5%+

7(71.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 26vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New2Increased11Decreased12Exited1

New Positions

AU2.2%

+36K

DMLP0.5%

+27K

Increased

BTO18.0%

+5.7M(+1039%)

MTA15.1%

+249K(+11%)

OLA0.8%

+29K(+37%)

FVI6.5%

+23K(+2%)

LAND0.9%

+17K(+14%)

ARCC1.6%

+5K(+5%)

AEM8.5%

+3K(+5%)

RGLD3.7%

+2K(+7%)

OR5.2%

+2K(+1%)

FNV12.3%

+269(+0%)

Decreased

IAU0.1%

-71,000(-59%)

DAKOTA GOLD CORP1.6%

-56,300(-10%)

TFPM6.0%

-41,220(-14%)

B1.0%

-37,259(-51%)

GBDC0.4%

-14,400(-28%)

PAAS4.8%

-9,447(-6%)

EQX1.3%

-7,815(-4%)

IE0.3%

-6,200(-15%)

ELE3.3%

-2,976(-1%)

CAG0.4%

-1,000(-3%)

Exited

VERSAMET ROYALTIES C…

-33,500

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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