TSP Capital Management Group, LLC

The portfolio consists of 45 holdings, indicating a concentrated strategy. The management team executed a high-velocity turnover strategy during the quarter. The filing data shows 21 new positions initiated alongside 19 reduced stakes and 1 sold position, signaling a substantial re-allocation of capital rather than merely investing new cash into existing positions. The portfolio is a mix of specific equity bets, particularly in the basic materials and resources sectors, balanced with exchange-traded funds (ETFs) and closed-end funds.

2. Key Holdings

The top ten holdings account for approximately 51.9% of the total portfolio value, indicating a high-conviction approach with significant concentration risk.