Vault-13

PAN AMERN SILVER CORP PAAS

COM · Common Stock · CUSIP 697900108 · ISIN CA6979001089

328 institutional holders +40 vs Q1 2023
185,469,066185.5m shares reported held*
$2.7bnreported value*
74 new 136 added 72 reduced 37 sold out net bought ≈ $780.0m (+53.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $14.56. Options: 27 managers hold calls ($145.1m notional), 19 hold puts ($67.2m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 268Q4 22: 280Q1 23: 288Q2 23: 328328Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022268
Q4 2022280
Q1 2023288
Q2 2023328

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 22: 139 bought or addedQ4 22: 105 cut or sold outQ4 22Q1 23: 164 bought or addedQ1 23: 97 cut or sold outQ1 23Q2 23: 210 bought or addedQ2 23: 109 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022139105
Q1 202316497
Q2 2023210109

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$50m$100m$150m$200mQ3 22 calls: $97.8mQ3 22 puts: $68.2mQ3 22P/C 0.70Q4 22 calls: $102.9mQ4 22 puts: $57.7mQ4 22P/C 0.56Q1 23 calls: $153.8mQ1 23 puts: $75.4mQ1 23P/C 0.49Q2 23 calls: $145.1mQ2 23 puts: $67.2mQ2 23P/C 0.46
Numbers
QuarterCallsPutsP/C
Q3 2022$97.8m$68.2m0.70
Q4 2022$102.9m$57.7m0.56
Q1 2023$153.8m$75.4m0.49
Q2 2023$145.1m$67.2m0.46

Biggest buyers

VAN ECK ASSOCIATES CORP Added +13,362,403+13.4m
VANGUARD GROUP INC Added +5,484,849+5.5m
FIL Ltd Added +4,318,767+4.3m
Mirae Asset Global Investments Co., Ltd. Added +3,142,729+3.1m
BlackRock Inc. Added +3,107,329+3.1m
GOLDMAN SACHS GROUP INC Added +2,976,042+3.0m
Orbis Allan Gray Ltd New +2,198,038+2.2m
Assenagon Asset Management S.A. New +2,035,518+2.0m
Invesco Ltd. Added +1,991,053+2.0m
NORGES BANK Added +1,883,495+1.9m

Biggest sellers

TWO SIGMA INVESTMENTS, LP Reduced -2,170,785-2.2m
TWO SIGMA ADVISERS, LP Reduced -1,390,723-1.4m
VOLORIDGE INVESTMENT MANAGEMENT, LLC Sold out -1,002,277-1.0m
Connor, Clark & Lunn Investment Management Ltd. Reduced -968,854-968.9k
MILLENNIUM MANAGEMENT LLC Reduced -692,284-692.3k
BANK OF AMERICA CORP /DE/ Reduced -680,594-680.6k
NFJ INVESTMENT GROUP, LLC Reduced -671,770-671.8k
Contrarius Investment Management Ltd Sold out -639,761-639.8k
Equinox Partners Investment Management LLC Reduced -565,450-565.5k
JANUS HENDERSON GROUP PLC Reduced -550,137-550.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $33.5m2.3m shares
Public Sector Pension Investment Board Unchanged $23.4m1.6m shares
BANK OF AMERICA CORP /DE/ Added $19.9m1.4m shares
GROUP ONE TRADING LLC Added $10.1m695.2k shares
SIMPLEX TRADING, LLC Added $8.0m607.6k shares
Arctis Global LLC New $7.3m500.0k shares
Parallax Volatility Advisers, L.P. Reduced $6.2m425.2k shares
CITADEL ADVISORS LLC Reduced $5.8m396.1k shares
JANE STREET GROUP, LLC Added $5.0m342.6k shares
PEAK6 Investments LLC Reduced $5.0m339.7k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $28.5m2.0m shares
CITADEL ADVISORS LLC Added $9.8m672.9k shares
Parallax Volatility Advisers, L.P. Reduced $6.1m417.5k shares
GROUP ONE TRADING LLC Added $5.0m343.9k shares
Walleye Trading LLC Added $3.9m264.2k shares
SIMPLEX TRADING, LLC Reduced $3.7m268.0k shares
PEAK6 Investments LLC Reduced $1.7m119.8k shares
WOLVERINE TRADING, LLC Added $1.6m113.2k shares
SIG North Trading, ULC Added $1.6m109.5k shares
BANK OF AMERICA CORP /DE/ Unchanged $1.5m100.0k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 6.3% +1.1 pts 26.1m≈ $1.2bn 2026-10-27
VAN ECK ASSOCIATES CORP 13G · institution -3.1 pts · filed 2026-05-15 5.1% -3.1 pts 21.4m≈ $958.6m 2026-05-15

Insider purchases and sales in Q2 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2023.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VAN ECK ASSOCIATES CORP 1.22% of their portfolio NEW YORK, NY 38,191,96138.2m $556.8m $556.8m 1.22% Added +13.4m +13,362,403
2 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 12,704,91212.7m $185.2m $185.2m 0.00% Added +5.5m +5,484,849
3 BlackRock Inc. 0.00% of their portfolio New York, NY 10,601,09310.6m $154.6m $154.6m 0.00% Added +3.1m +3,107,329
4 FIL Ltd 0.16% of their portfolio HAMILTON, D0 9,669,1379.7m $140.9m $140.9m 0.16% Added +4.3m +4,318,767
5 Mirae Asset Global Investments Co., Ltd. 0.25% of their portfolio SEOUL, M5 7,968,2308.0m $116.2m $116.2m 0.25% Added +3.1m +3,142,729
6 Invesco Ltd. 0.02% of their portfolio ATLANTA, GA 5,374,1315.4m $78.4m $78.4m 0.02% Added +2.0m +1,991,053
7 NORGES BANK 0.01% of their portfolio OSLO, Q8 4,246,1444.2m $61.9m $61.9m 0.01% Added +1.9m +1,883,495
8 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 4,173,5174.2m $60.9m $60.9m 0.02% Added +1.4m +1,449,095
9 Slate Path Capital LP 2.07% of their portfolio New York, NY 3,888,0003.9m $56.7m $56.7m 2.07% Unchanged
10 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 3,513,8263.5m $51.2m $51.2m 0.01% Added +3.0m +2,976,042
11 Nuveen Asset Management, LLC 0.02% of their portfolio CHICAGO, IL 3,165,1673.2m $46.1m $46.1m 0.02% Added +416.7k +416,658
12 Ninety One UK Ltd 0.13% of their portfolio London, X0 3,128,0083.1m $45.6m $45.6m 0.13% Added +1.1m +1,125,919
13 MACKENZIE FINANCIAL CORP 0.07% of their portfolio TORONTO ONTARIO, A6 3,051,1263.1m $44.4m $44.4m 0.07% Added +434.9k +434,862
14 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 3,049,2283.0m $44.5m $44.5m 0.01% Added +1.4m +1,447,335
15 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,705,4112.7m $39.4m $39.4m 0.00% Added +1.4m +1,379,568
16 Connor, Clark & Lunn Investment Management Ltd. 0.19% of their portfolio VANCOUVER, A1 2,616,5722.6m $38.1m $38.1m 0.19% Reduced -968.9k -968,854
17 SPROTT INC. 3.39% of their portfolio TORONTO, A6 2,556,7482.6m $37.3m $37.3m 3.39% Added +76.5k +76,490
18 RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio NEW YORK, NY 2,417,9412.4m $35.3m $35.3m 0.05% Added +1.1m +1,114,032
19 Orbis Allan Gray Ltd 0.23% of their portfolio HamiltoN, D0 2,198,0382.2m $32.0m $32.0m 0.23% New
20 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 2,107,6792.1m $30.7m $30.7m 0.01% Reduced -528.0k -527,951
21 Assenagon Asset Management S.A. 0.12% of their portfolio SENNINGERBERG, N4 2,035,5182.0m $29.7m $29.7m 0.12% New
22 CITADEL ADVISORS LLC 0.03% of their portfolio MIAMI, FL 1,864,8881.9m $27.2m $27.2m 0.03% Added +304.0k +303,969
23 TD Asset Management Inc 0.03% of their portfolio Toronto, A6 1,798,8601.8m $26.2m $26.2m 0.03% Added +502.0k +501,967
24 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 1,768,0781.8m $25.8m $25.8m 0.07% New
25 Amundi 0.01% of their portfolio Paris, I0 1,760,6291.8m $26.1m $26.1m 0.01% Reduced -56.3k -56,307
26 Man Group plc 0.08% of their portfolio LONDON, X0 1,689,0911.7m $24.6m $24.6m 0.08% New
27 SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio London, X0 1,668,3431.7m $24.3m $24.3m 0.03% Added +354.6k +354,581
28 Polunin Capital Partners Ltd 4.87% of their portfolio LONDON, X0 1,626,9381.6m $23.7m $23.7m 4.87% Reduced -4.6k -4,600
29 INTACT INVESTMENT MANAGEMENT INC. 0.96% of their portfolio MONTREAL, A8 1,617,5001.6m $23.6m $23.6m 0.96% New
30 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 1,570,0591.6m $22.9m $22.9m 0.04% Added +475.1k +475,072
31 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 1,517,0981.5m $22.1m $22.1m 0.03% Added +1.2m +1,218,551
32 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 1,399,4451.4m $21.5m $21.5m 0.01% Added +551.5k +551,540
33 Swiss National Bank 0.01% of their portfolio ZURICH, V8 1,370,2191.4m $20.0m $20.0m 0.01% Added +320.2k +320,219
34 Euro Pacific Asset Management, LLC 4.31% of their portfolio DORADO, PR 1,365,0471.4m $19.7m $19.7m 4.31% Added +629.0k +629,039
35 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 1,321,3661.3m $19.3m $19.3m 0.02% Reduced -692.3k -692,284
36 Legal & General Group Plc 0.01% of their portfolio London, X0 1,207,4471.2m $17.6m $17.6m 0.01% Added +223.5k +223,476
37 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 1,206,5911.2m $17.5m $17.5m 0.00% Reduced -36.4k -36,352
38 Ruffer LLP 1.03% of their portfolio LONDON, X0 1,205,2921.2m $17.6m $17.6m 1.03% Added +1.0m +1,005,292
39 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 995,844995.8k $14.5m $14.5m 0.00% Reduced -680.6k -680,594
40 INGALLS & SNYDER LLC 0.67% of their portfolio NEW YORK, NY 952,848952.8k $13.9m $13.9m 0.67% Added +275.4k +275,448
41 NFJ INVESTMENT GROUP, LLC 0.35% of their portfolio DALLAS, TX 896,360896.4k $13.1m $13.1m 0.35% Reduced -671.8k -671,770
42 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 842,666842.7k $12.3m $12.3m 0.01% Added +133.7k +133,720
43 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 839,800839.8k $12.4m $12.4m 0.02% Added +245.7k +245,666
44 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.02% of their portfolio FRANKFURT AM MAIN, 2M 807,119807.1k $11.8m $11.8m 0.02% Added +12.0k +11,985
45 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 789,392789.4k $11.5m $11.5m 0.01% Added +241.0k +241,011
46 Public Sector Pension Investment Board 0.08% of their portfolio MONTREAL, A8 780,965781.0k $11.4m $11.4m 0.08% Added +341.1k +341,075
47 BRIGHTLIGHT CAPITAL MANAGEMENT LP 8.71% of their portfolio WESTPORT, CT 732,000732.0k $10.7m $10.7m 8.71% Unchanged
48 PICTON MAHONEY ASSET MANAGEMENT 0.02% of their portfolio Toronto, A6 648,043648.0k $329.0k $329.0k 0.02% Unchanged
49 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 590,381590.4k $8.6m $8.6m 0.01% Added +279.2k +279,242
50 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 585,961586.0k $8.5m $8.5m 0.01% Added +350.6k +350,630
51 CIBC WORLD MARKET INC. 0.03% of their portfolio TORONTO, A6 585,119585.1k $8.5m $8.5m 0.03% Added +154.0k +154,032
52 Russell Investments Group, Ltd. 0.02% of their portfolio Seattle, WA 556,899556.9k $8.1m $8.1m 0.02% Added +49.3k +49,336
53 BANK OF NOVA SCOTIA 0.02% of their portfolio TORONTO, A6 549,420549.4k $8.0m $8.0m 0.02% Reduced -47.3k -47,297
54 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 529,440529.4k $7.7m $7.7m 0.00% Added +150.3k +150,314
55 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 486,414486.4k $7.1m $7.1m 0.01% Added +240.2k +240,245
56 Equinox Partners Investment Management LLC 6.47% of their portfolio STAMFORD, CT 484,300484.3k $7.1m $7.1m 6.47% Reduced -565.5k -565,450
57 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 483,380483.4k $7.0m $7.0m 0.02% New
58 Financial Sense Advisors, Inc. 3.17% of their portfolio SAN DIEGO, CA 475,241475.2k $6.9m $6.9m 3.17% Reduced -7.9k -7,874
59 CIBC Asset Management Inc 0.03% of their portfolio TORONTO, Z4 473,918473.9k $6.9m $6.9m 0.03% Added +190.5k +190,542
60 Pine Valley Investments Ltd Liability Co 0.66% of their portfolio MARLTON, NJ 461,399461.4k $6.7m $6.7m 0.66% Added +282.3k +282,327
61 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 442,369442.4k $6.4m $6.4m 0.00% Added +97.3k +97,280
62 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 418,000418.0k $6.1m $6.1m 0.01% Added +150.5k +150,500
63 Lombard Odier Asset Management (Europe) Ltd 0.29% of their portfolio LONDON, X0 411,796411.8k $6.0m $6.0m 0.29% New
64 Alberta Investment Management Corp 0.06% of their portfolio EDMONTON, A0 397,360397.4k $5.8m $5.8m 0.06% Added +95.6k +95,560
65 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 391,723391.7k $5.7m $5.7m 0.00% Added +87.3k +87,324
66 Quadrature Capital Ltd 0.12% of their portfolio LONDON, X0 371,900371.9k $5.4m $5.4m 0.12% Added +157.4k +157,400
67 Monaco Asset Management SAM 2.68% of their portfolio Monaco, O9 341,685341.7k $5.0m $5.0m 2.68% Added +316.7k +316,685
68 PICTET ASSET MANAGEMENT SA 0.01% of their portfolio GENEVA 73, V8 336,175336.2k $4.9m $4.9m 0.01% Reduced -26.9k -26,855
69 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.05% of their portfolio VICTORIA, A1 333,227333.2k $4.9m $4.9m 0.05% Added +92.8k +92,787
70 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 317,817317.8k $4.6m $4.6m 0.00% Reduced -26.5k -26,460
71 Pine Valley Investments Ltd Liability Co 0.43% of their portfolio MARLTON, NJ 298,000298.0k $4.3m $4.3m 0.43% New
72 CAPITAL FUND MANAGEMENT S.A. 0.07% of their portfolio PARIS, I0 297,064297.1k $4.3m $4.3m 0.07% Added +166.3k +166,274
73 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 296,630296.6k $4.3m $4.3m 0.01% Reduced -1.4m -1,390,723
74 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 292,839292.8k $4.3m $4.3m 0.00% Reduced -27.4k -27,448
75 GUGGENHEIM CAPITAL LLC 0.03% of their portfolio CHICAGO, IL 291,300291.3k $4.2m $4.2m 0.03% Added +86.3k +86,311
76 Freemont Management S.A. 0.50% of their portfolio VAUD, V8 271,100271.1k $4.0m $4.0m 0.50% Unchanged
77 Cheviot Value Management, LLC 0.86% of their portfolio BEVERLY HILLS, CA 269,127269.1k $3.9m $3.9m 0.86% Reduced -10.7k -10,690
78 BUILDER INVESTMENT GROUP INC /ADV 1.34% of their portfolio ATLANTA, GA 236,061236.1k $3.4m $3.4m 1.34% Reduced -1.5k -1,500
79 PKO Investment Management Joint-Stock Co 0.41% of their portfolio WARSAW, R9 232,666232.7k $3.4m $3.4m 0.41% Added +108.6k +108,566
80 Foundry Partners, LLC 0.21% of their portfolio MINNEAPOLIS, MN 232,032232.0k $3.4m $3.4m 0.21% Reduced -2.2k -2,198
81 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.06% of their portfolio New York, NY 217,166217.2k $3.2m $3.2m 0.06% Reduced -15.0k -15,000
82 Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio ZURICH, V8 217,137217.1k $3.2m $3.2m 0.01% Added +45.4k +45,447
83 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 213,372213.4k $3.1m $3.1m 0.00% Added +93.4k +93,437
84 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 205,767205.8k $3.0m $3.0m 0.00% Added +79.9k +79,929
85 Twin Tree Management, LP 0.06% of their portfolio DALLAS, TX 203,327203.3k $3.0m $3.0m 0.06% New
86 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 194,107194.1k $2.8m $2.8m 0.00% Added +10.3k +10,277
87 Goehring & Rozencwajg Associates, LLC 0.81% of their portfolio NEW YORK, NY 192,006192.0k $2.8m $2.8m 0.81% Added +19.1k +19,150
88 UBS Group AG 0.00% of their portfolio ZURICH, V8 180,847180.8k $2.6m $2.6m 0.00% Reduced -3.4k -3,371
89 GeoSphere Capital Management, LLC 2.90% of their portfolio MIAMI BEACH, FL 180,000180.0k $2.6m $2.6m 2.90% New
90 SIMPLEX TRADING, LLC 0.11% of their portfolio CHICAGO, IL 174,923174.9k $2.5m $2.5m 0.11% Reduced -110.9k -110,919
91 Mn Services Vermogensbeheer B.V. 0.02% of their portfolio THE HAGUE, P7 173,500173.5k $2.5m $2.5m 0.02% Added +122.8k +122,800
92 Lesa Sroufe & Co 2.66% of their portfolio SEATTLE, WA 170,779170.8k $2.5m $2.5m 2.66% Reduced -256 -256
93 Walleye Trading LLC 0.12% of their portfolio NEW YORK, NY 163,127163.1k $2.4m $2.4m 0.12% Added +97.4k +97,439
94 GROUP ONE TRADING LLC 0.10% of their portfolio CHICAGO, IL 163,018163.0k $2.4m $2.4m 0.10% Reduced -72.2k -72,164
95 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 161,159161.2k $2.3m $2.3m 0.00% Reduced -550.1k -550,137
96 Leonteq Securities AG 0.24% of their portfolio ZURICH, V8 160,674160.7k $2.4m $2.4m 0.24% Added +69.7k +69,694
97 Parallax Volatility Advisers, L.P. 0.08% of their portfolio San Francisco, CA 156,382156.4k $2.3m $2.3m 0.08% New
98 GTS SECURITIES LLC 0.07% of their portfolio NEW YORK, NY 148,735148.7k $2.2m $2.2m 0.07% First filing
99 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 148,481148.5k $2.2m $2.2m 0.01% Added +35.6k +35,600
100 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 145,378145.4k $2.1m $2.1m 0.00% Reduced -23.8k -23,845