Tocqueville Asset Management

Home of the long-running Tocqueville Gold Fund.

goldsilver

PORTFOLIO VALUE

$497.7M

Q1 2025 · 4 positions

HoldingsQ1 2025 · as filed

Ticker	Company	Sector	Shares	Value (USD)	% Portfolio	Activity
PAAS	Pan American Silver Corp Canada	Senior Producer	5.50M	$143.0M	16.2%	—
WPM	Wheaton Precious Metals Canada	Streaming	2.90M	$127.6M	14.5%	TRIM -15%
GDX	VanEck Gold Miners ETF USA	Senior ETF	6.20M	$134.3M	15.2%	ADD +8%
AEM	Agnico Eagle Mines Canada	Senior Producer	1.60M	$92.8M	10.5%	NEW