A Golden Flutter: Global Strategic and the Curious Case of OR Royalties

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It has come to my attention – a matter, I assure you, of the most meticulous observation, involving ledgers, charts, and a rather persistent cough from the dust of forgotten filings – that Global Strategic Management Inc. has taken a position in OR Royalties. Not merely a position, mind you, but a deliberate, calculated incursion into the realm of precious metals, involving some 225,992 shares and a sum approximating $8.04 million. One suspects a peculiar logic at play, a dance between speculation and the immutable laws of supply and demand, or perhaps simply the whims of a particularly ambitious portfolio manager.

The Peculiarities of the Transaction

The filing, dated February 13th, 2026 – a date, I note with a shiver, that feels strangely pregnant with significance – reveals this acquisition. The sum, $8.04 million, is, of course, a mere abstraction, a collection of digits representing the hopes and anxieties of countless individuals. It is, in essence, a phantom fortune, shimmering and elusive. That this phantom now resides, at least partially, within the coffers of OR Royalties is a fact worthy of some contemplation. The quarter-end valuation mirrors this initial investment, a curious symmetry that suggests either profound insight or a remarkable stroke of luck. One wonders if the accountants involved employed a divining rod alongside their abacuses.

A Slice of the Pie

This venture, we are informed, constitutes 6.7% of Global Strategic’s reportable assets. A considerable portion, to be sure, though one imagines the fund’s holdings resemble a vast, chaotic bazaar, overflowing with stocks, bonds, and the occasional speculative venture into the realm of llama farming. Let us briefly survey the other treasures within this portfolio:

  • 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)

As of February 12th, 2026, OR Royalties shares commanded a price of $40.34 – a figure that, in the grand scheme of things, is neither particularly exorbitant nor remarkably humble. Yet, the stock has experienced a rather exuberant ascent over the past year, rising by a staggering 99.4%, and outpacing the S&P 500 by a considerable 86.5 percentage points. One suspects a touch of alchemy at play, a transmutation of base metal into financial gold.

The Company Itself: A Brief Digression

OR Royalties, we are told, is a Montreal-based entity specializing in royalty and streaming interests in precious metals – primarily gold. This, in essence, means they collect a portion of the revenue generated by mining operations in exchange for upfront capital. A rather elegant arrangement, wouldn’t you agree? It allows them to participate in the bounty of the earth without the inconvenience of actually digging anything. A most civilized pursuit.

Metric Value
Revenue (TTM) $277.37 million
Net income (TTM) $206.09 million
Dividend yield 0.50%
Price (as of market close February 12, 2026) $40.34

They offer, as the prospectus delicately puts it, “exposure to precious metals without direct operational risk.” A phrase that, when translated into plain language, means they avoid the mud, the machinery, and the inevitable disputes with disgruntled miners. A most prudent strategy.

What Does This All Mean?

Global Strategic, it seems, has decided to place a wager on the continued ascent of gold and the fortunes of OR Royalties. Precious metals, as everyone knows, have enjoyed a remarkable rally in recent years, fueled by anxieties about inflation, geopolitical instability, and the general capriciousness of fate. Gold, in particular, is viewed as a safe haven, a repository of value in a world perpetually teetering on the brink of chaos. Shares of OR Royalties have, predictably, mirrored this ascent, advancing by a substantial 152% in the last twelve months alone. 2026, it appears, has continued this trend, with OR Royalties shares up 32% year-to-date.

For the average investor, however, a degree of caution is warranted. While precious metals can certainly play a role in a diversified portfolio, it is unwise to place all one’s eggs in a single, shimmering basket. The market, as any seasoned observer will attest, is a fickle mistress, and fortunes can be made and lost with astonishing speed. A well-diversified portfolio, like a sturdy ship, is better equipped to weather the inevitable storms.

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2026-02-26 22:43