Equinox Partners Investment Management trimmed its position in Osisko Development (ODV 6.34%) by 1,032,596 shares last quarter, an estimated $3.55 million trade based on average quarterly pricing, according to a February 17, 2026, SEC filing.
What happened
According to a filing with the Securities and Exchange Commission dated February 17, 2026, Equinox Partners Investment Management reduced its holdings in Osisko Development by 1,032,596 shares last quarter. The estimated transaction value was $3.55 million based on the mean unadjusted closing price for the quarter. The fund’s stake at the end of December 2025 was 573,739 shares, valued at $1.94 million.
What else to know
- This was a reduction in position size; the holding now represents 1.02% of the fund’s reportable U.S. equity assets under management.
- Top holdings after the filing:
- NYSEMKT:GAU: $35.19 million (18.4% of AUM)
- NYSEMKT:GTE: $27.06 million (14.1% of AUM)
- NYSEMKT:ITRG: $23.69 million (12.4% of AUM)
- NYSEMKT:PSLV: $21.57 million (11.3% of AUM)
- NYSEMKT:NEWP: $19.78 million (10.3% of AUM)
- As of February 17, 2026, ODV shares were priced at $4.28, up nearly 230% over the past year and significantly outperforming the S&P 500’s roughly 16% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of Thursday) | $4.28 |
| Market Capitalization | $1.3 billion |
| Revenue (TTM) | $11.3 million |
| Net Income (TTM) | ($250.8 million) |
Company snapshot
- Osisko Development engages in gold mining, exploration, and development, with primary revenue derived from mineral resource projects such as the Cariboo Gold project in British Columbia.
- The firm operates an asset development model focused on advancing high-potential mining properties from exploration through to production, generating value through resource expansion and project advancement.
- It owns gold mining assets located in Canada and Mexico.
Osisko Development Corp. is a Canadian gold mining company specializing in the exploration and development of large-scale mining projects, with its flagship Cariboo Gold project representing a significant asset in British Columbia. The company leverages a strategy centered on advancing high-quality mineral properties through the project development lifecycle, aiming to unlock resource value and future production potential. With operations in both Canada and Mexico, Osisko Development positions itself to benefit from long-term demand in the gold sector and offers investors exposure to resource growth and development opportunities.
What this transaction means for investors
When a junior mining stock triples in a year, trimming exposure can simply be a way to manage risk rather than a loss of conviction. Gold developers often move in dramatic bursts tied to financing milestones, drilling results, or shifts in commodity prices. That volatility can create big opportunities, but it can also push position sizes beyond what makes sense for a concentrated portfolio.
Osisko Development is still firmly in the development phase, meaning the real value of the business hinges on advancing projects toward production. The company’s flagship Cariboo Gold Project in British Columbia continues to progress through underground development and a large-scale infill drilling campaign aimed at converting mineral resources into mineable reserves. The company has also secured significant capital to fund that work, including a $450 million project financing facility tied to Cariboo’s construction timeline.
More recently, Osisko raised about $143.8 million through a bought deal offering priced at $3.54 per share to support drilling and exploration at the project.
That influx of capital helps advance the project but also adds dilution risk, something investors in development-stage miners must always weigh. For long-term investors, the key takeaway is simple: early-stage miners can deliver huge upside, but position sizing matters when stocks move this quickly. The firm is set to release its fourth-quarter update in the coming weeks.
