First Quantum Minerals Ltd.
US ˙ OTCPK ˙ CA3359341052

SecurityFQVLF / First Quantum Minerals Ltd.
InstitutionBLACKROCK NATURAL RESOURCES TRUST - BLACKROCK NATURAL RESOURCES TRUST Investor A
Latest Disclosed Ownership91,060 shares
Latest Disclosed Value $ 1,530,591
BLACKROCK NATURAL RESOURCES TRUST - BLACKROCK NATURAL RESOURCES TRUST Investor A reports 58.93% decrease in ownership of FQVLF / First Quantum Minerals Ltd.

On September 24, 2025 - BLACKROCK NATURAL RESOURCES TRUST - BLACKROCK NATURAL RESOURCES TRUST Investor A filed a NPORT-P form disclosing ownership of 91,060 shares of First Quantum Minerals Ltd. (US:FQVLF) valued at $1,530,591 USD as of July 31, 2025. The entity filed a previous NPORT-P on June 26, 2025 disclosing 221,709 shares of First Quantum Minerals Ltd.. This represents a change in shares of -58.93% during the quarter. The current value of the position is $1,129,144 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-09-24 2025-07-31 NP First Quantum Minerals EC CA3359341052 91,060 -130,649 -58.93 1,531 -48.59 1.0686
2025-06-26 2025-04-30 NP First Quantum Minerals EC CA3359341052 221,709 132,273 147.90 2,977 165.95 2.1223
2025-03-27 2025-01-31 NP First Quantum Minerals EC CA3359341052 89,436 -5,836 -6.13 1,119 -9.02 0.7500
2024-12-26 2024-10-31 NP First Quantum Minerals EC CA3359341052 95,272 31,772 50.03 1,231 58.30 0.7118
2024-09-27 2024-07-31 NP First Quantum Minerals EC CA3359341052 63,500 -76,608 -54.68 777 -56.32 0.4254
2024-06-27 2024-04-30 NP First Quantum Minerals EC CA3359341052 140,108 30,236 27.52 1,779 78.44 0.9335
2024-03-27 2024-01-31 NP First Quantum Minerals EC CA3359341052 109,872 -166,458 -60.24 997 -68.86 0.5264
2023-12-27 2023-10-31 NP First Quantum Minerals EC CA3359341052 276,330 67,724 32.47 3,202 -48.25 1.4023
2023-09-26 2023-07-31 NP First Quantum Minerals EC CA3359341052 208,606 -107,295 -33.96 6,187 -19.39 2.3683
2023-06-27 2023-04-30 NP First Quantum Minerals EC CA3359341052 315,901 129,498 69.47 7,676 77.50 2.6549
2023-03-29 2023-01-31 NP First Quantum Minerals EC CA3359341052 186,403 -64,896 -25.82 4,325 -2.44 1.5372
2022-12-27 2022-10-31 NP First Quantum Minerals EC CA3359341052 251,299 -96,855 -27.82 4,433 -30.33 1.8114
2022-09-27 2022-07-31 NP First Quantum Minerals EC CA3359341052 348,154 108,734 45.42 6,362 -7.33 2.5960
2022-06-27 2022-04-30 NP First Quantum Minerals EC CA3359341052 239,420 -5,436 -2.22 6,864 13.81 2.5229
2022-03-29 2022-01-31 NP First Quantum Minerals EC CA3359341052 244,856 157,414 180.02 6,031 191.35 2.9274
2021-12-28 2021-10-31 NP First Quantum Minerals EC CA3359341052 87,442 -18,972 -17.83 2,070 -9.17 1.0829
2021-09-28 2021-07-31 NP First Quantum Minerals EC CA3359341052 106,414 13,786 14.88 2,279 6.79 1.3103
2021-06-28 2021-04-30 NP First Quantum Minerals EC CA3359341052 92,628 4,586 5.21 2,135 45.57 1.2614
2021-03-31 2021-01-31 NP First Quantum Minerals EC CA3359341052 88,042 -11,449 -11.51 1,467 28.26 1.0722
2020-12-28 2020-10-31 NP First Quantum Minerals EC CA3359341052 99,491 -46,207 -31.71 1,143 -7.15 1.0916
2020-09-28 2020-07-31 NP First Quantum Minerals EC CA3359341052 145,698 -235,505 -61.78 1,231 -47.10 1.0584
2020-06-26 2020-04-30 NP First Quantum Minerals EC CA3359341052 381,203 53,654 16.38 2,328 -9.24 2.1801
2020-03-27 2020-01-31 NP First Quantum Minerals EC CA3359341052 327,549 -7,350 -2.19 2,564 -9.40 1.9317
2019-12-26 2019-10-31 NP First Quantum Minerals EC CA3359341052 334,899 334,899 2,830 1.9904
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.