In a recent 13F filing, Encompass Capital revealed it had completely sold off its stake in tungsten producer Almonty Industries. The disclosure, filed on August 14, 2026, reflects trading activity that occurred during the second quarter ending June 30. Encompass liquidated its entire position of 4.30 million shares, which was previously valued at approximately $62.28 million and represented a 1.87% portfolio weight for the investor.
This move comes as Almonty Industries reported a significant financial turnaround in the second quarter, driven by record tungsten prices. The company, which is developing the Sangdong tungsten mine in South Korea, has been noted for its strategic importance in the Western tungsten supply chain for the defense and technology sectors. No specific reason for the exit was provided by Encompass Capital in the filing.