Global Strategic Management Inc. made a move on Elemental Royalty Corporation (ELE +0.40%). Two hundred eighty-one thousand, one hundred ninety-seven shares. Around $4.74 million, give or take a few fortunes. February 13th, 2026. Dates have a way of sticking to these things. The filing landed like a dropped coin in a quiet room. I started digging.
The Angle
The fund’s new position in Elemental represents roughly 3.95% of their 13F reportable assets as of December 31st, 2025. Not a king’s ransom, but enough to raise an eyebrow. It’s a royalty play, see? They don’t get their hands dirty digging ore. They collect a percentage. Cleaner business, in theory. But leverage works both ways. The market doesn’t hand out free lunches. It just disguises them with complex filings.
Here’s where the money was sitting before this little dance:
- NYSE: FNV: $16.29 million (13.6% of AUM)
- NYSEMKT: MTA: $16.18 million (13.5% of AUM)
- NYSE: AEM: $11.89 million (9.9% of AUM)
- NYSE: TFPM: $10.73 million (9.0% of AUM)
- NYSE: FSM: $9.24 million (7.7% of AUM)
The Company, Briefly
Elemental Royalty Corporation. Vancouver-based. Specializes in gold and other shiny things. They acquire and manage royalty interests in mining operations. Sounds simple enough. It’s a scalable model, they say. Which is what everyone says when they’re trying to sell you something.
| Metric | Value |
|---|---|
| Price (Feb 13, 2026 close) | $19.88 |
| Market capitalization | $1.32 billion |
| Revenue (TTM) | $33.12 million |
| Net income (TTM) | $5.11 million |
They serve mining companies and investors. A neat little arrangement. Everyone gets a piece. Except, of course, the guy holding the shovel.
What It Means, If Anything
Precious metals have been on a tear. Gold and silver, flashing their appeal. Elemental’s stock? Up 173% over the last 12 months. Year-to-date, a surge of 33%. It’s the kind of performance that attracts attention. And Global Strategic, they have a nose for these things. Or at least, they used to.
Elemental isn’t digging for gold, they’re collecting royalties on it. That’s the key. Less risk, less hassle. More leverage. But leverage is a double-edged sword. It amplifies gains, sure, but it also magnifies losses. The market has a habit of reminding you of that.
The company’s market cap? $1.32 billion. Small enough to be nimble, large enough to be noticed. But it wasn’t always this way. Just a few months ago, in the summer of 2025, it was hovering around $500 million. A quick climb. Too quick, maybe.
Elemental’s stock has soared. But the air is thin at this altitude. Precious metals are volatile. And small caps? They can disappear faster than a politician’s promise. Investors should proceed with caution. Or, better yet, keep their hands in their pockets. Sometimes, the smartest move is to watch the game from the sidelines.
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2026-02-26 22:25