PAN AMERN SILVER CORP PAAS
COM · Common Stock · CUSIP 697900108 · ISIN CA6979001089
- SectorMaterials
- IndustryGold and Silver Ores
- FilingsSEC EDGAR
* 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 ($37.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $45.05. Options: 41 managers hold calls ($461.9m notional), 33 hold puts ($310.6m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 268 |
| Q4 2022 | 280 |
| Q1 2023 | 288 |
| Q2 2023 | 328 |
| Q3 2023 | 310 |
| Q4 2023 | 322 |
| Q1 2024 | 327 |
| Q2 2024 | 355 |
| Q3 2024 | 353 |
| Q4 2024 | 373 |
| Q1 2025 | 381 |
| Q2 2025 | 415 |
| Q3 2025 | 491 |
| Q4 2025 | 565 |
| Q1 2026 | 619 |
| Q2 2026 | 585 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 173 | 163 |
| Q4 2024 | 177 | 155 |
| Q1 2025 | 200 | 158 |
| Q2 2025 | 239 | 137 |
| Q3 2025 | 305 | 165 |
| Q4 2025 | 269 | 222 |
| Q1 2026 | 313 | 254 |
| Q2 2026 | 262 | 291 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $425.0m | $307.9m | 0.72 |
| Q4 2025 | $688.3m | $483.7m | 0.70 |
| Q1 2026 | $716.1m | $463.8m | 0.65 |
| Q2 2026 | $461.9m | $310.6m | 0.67 |
Biggest buyers
| First Eagle Investment Management, LLC | Added | +2.4m |
| MORGAN STANLEY | Added | +1.7m |
| BANK OF MONTREAL /CAN/ | Added | +1.5m |
| TWO SIGMA INVESTMENTS, LP | Added | +1.3m |
| AQR CAPITAL MANAGEMENT LLC | Added | +1.2m |
| Man Group plc | Added | +1.1m |
| Balyasny Asset Management L.P. | Added | +1.0m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +959.5k |
| TORONTO DOMINION BANK | Added | +741.3k |
| CIBC Asset Management Inc | Added | +633.3k |
Biggest sellers
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Sold out | -3.4m |
| JANE STREET GROUP, LLC | Reduced | -3.1m |
| VAN ECK ASSOCIATES CORP | Reduced | -2.5m |
| FIL Ltd | Reduced | -2.4m |
| Invesco Ltd. | Reduced | -1.8m |
| CITADEL ADVISORS LLC | Reduced | -1.3m |
| Evergreen Quality Fund GP, Ltd. | Sold out | -1.3m |
| HRT FINANCIAL LP | Reduced | -1.3m |
| FMR LLC | Reduced | -1.1m |
| Qube Research & Technologies Ltd | Reduced | -855.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $142.1m3.2m shares |
| JANE STREET GROUP, LLC | Reduced | $58.6m1.3m shares |
| CITADEL ADVISORS LLC | Reduced | $50.2m1.1m shares |
| GROUP ONE TRADING LLC | Reduced | $36.7m819.5k shares |
| IMC-Chicago, LLC | Reduced | $28.4m633.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $28.1m626.8k shares |
| UBS Group AG | Added | $24.9m555.8k shares |
| Walleye Trading LLC | Added | $19.7m440.0k shares |
| BANK OF MONTREAL /CAN/ | Added | $10.9m242.5k shares |
| LMR Partners LLP | Unchanged | $9.0m200.0k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $81.7m1.8m shares |
| CITADEL ADVISORS LLC | Reduced | $61.9m1.4m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $46.2m1.0m shares |
| IMC-Chicago, LLC | Reduced | $23.1m514.8k shares |
| GROUP ONE TRADING LLC | Added | $17.5m390.8k shares |
| Walleye Trading LLC | Added | $13.4m298.6k shares |
| D. E. Shaw & Co., Inc. | Reduced | $12.6m280.6k shares |
| TUDOR INVESTMENT CORP ET AL | Reduced | $8.8m196.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $5.5m122.4k shares |
| SIG North Trading, ULC | Reduced | $4.2m94.3k 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.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 | 6.3% |
| VAN ECK ASSOCIATES CORP 13G · institution -3.1 pts · filed 2026-05-15 | 5.1% |
Insider purchases and sales since 1 Apr 2026
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 since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| VAN ECK ASSOCIATES CORP 0.52% of their portfolio | 19.1m $854.0m | Reduced -2.5m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.83% of their portfolio | 15.6m $698.2m | Added +228.9k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 11.5m $516.6m | Added +84.4k |
| BlackRock, Inc. 0.01% of their portfolio | 8.4m $375.9m | Reduced -393.0k |
| Capital International Investors 0.06% of their portfolio | 6.2m $279.3m | Added +538.6k |
| NORGES BANK 0.02% of their portfolio | 5.6m $250.0m | Not comparable |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.9m $230.0m | Added +523.6k |
| First Eagle Investment Management, LLC 0.18% of their portfolio | 4.8m $216.5m | Added +2.4m |
| MORGAN STANLEY 0.01% of their portfolio | 4.8m $214.6m | Added +1.7m |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 4.2m $188.3m | Added +1.5m |
| MILLENNIUM MANAGEMENT LLC 0.12% of their portfolio | 3.8m $170.9m | Added +215.9k |
| VANGUARD FIDUCIARY TRUST CO 0.04% of their portfolio | 3.7m $164.2m | Added +10.6k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 3.6m $159.7m | Reduced -365.3k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 3.5m $157.2m | Added +35 |
| JANE STREET GROUP, LLC 0.09% of their portfolio | 3.3m $147.5m | Reduced -3.1m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.11% of their portfolio | 3.2m $145.3m | Added +398.0k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.08% of their portfolio | 3.1m $138.3m | Added +421.7k |
| Connor, Clark & Lunn Investment Management Ltd. 0.25% of their portfolio | 2.9m $130.6m | Reduced -199.5k |
| TWO SIGMA INVESTMENTS, LP 0.10% of their portfolio | 2.9m $128.9m | Added +1.3m |
| Amundi 0.03% of their portfolio | 2.8m $123.3m | Added +127.7k |
| Invesco Ltd. 0.01% of their portfolio | 2.7m $123.1m | Reduced -1.8m |
| TD Asset Management Inc 0.11% of their portfolio | 2.7m $121.8m | Added +137.0k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.4m $109.1m | Added +373.7k |
| CIBC Asset Management Inc 0.24% of their portfolio | 2.4m $109.3m | Added +633.3k |
| JUPITER ASSET MANAGEMENT LTD 0.54% of their portfolio | 2.4m $107.9m | Reduced -55.4k |
| Legal & General Group Plc 0.02% of their portfolio | 2.4m $106.7m | Reduced -352.6k |
| Man Group plc 0.20% of their portfolio | 2.4m $106.6m | Added +1.1m |
| Tidal Investments LLC 0.26% of their portfolio | 2.4m $106.3m | Reduced -582.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.14% of their portfolio | 2.3m $101.3m | Added +959.5k |
| Ninety One UK Ltd 0.22% of their portfolio | 2.2m $100.6m | Reduced -454.4k |
| MACKENZIE FINANCIAL CORP 0.14% of their portfolio | 2.2m $141.5m | Reduced -21.9k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 2.2m $97.0m | Added +1.2m |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 1.8m $83.3m | Added +31.1k |
| SPROTT INC. 2.73% of their portfolio | 1.8m $82.5m | Added +415.9k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.8m $82.0m | Reduced -23.6k |
| TORONTO DOMINION BANK 0.14% of their portfolio | 1.8m $81.6m | Added +741.3k |
| Qube Research & Technologies Ltd 0.09% of their portfolio | 1.8m $80.8m | Reduced -855.4k |
| Vanguard Global Advisers, LLC 0.04% of their portfolio | 1.8m $79.7m | Added +104.2k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 1.8m $79.6m | Added +125.8k |
| INGALLS & SNYDER LLC 2.16% of their portfolio | 1.8m $79.0m | Reduced -15.2k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.7m $77.6m | Reduced -85.8k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 1.7m $75.2m | Reduced -8.4k |
| UBS Group AG 0.01% of their portfolio | 1.6m $70.6m | Added +551.1k |
| FIL Ltd 0.05% of their portfolio | 1.5m $67.8m | Reduced -2.4m |
| Swiss National Bank 0.03% of their portfolio | 1.4m $61.0m | Reduced -57.1k |
| Euro Pacific Asset Management, LLC 5.42% of their portfolio | 1.2m $47.7m | Reduced -15.4k |
| PICTON MAHONEY ASSET MANAGEMENT 0.50% of their portfolio | 1.2m $54.0m | Added +397.3k |
| AGF MANAGEMENT LTD 0.21% of their portfolio | 1.2m $53.2m | Added +50.6k |
| NATIONAL BANK OF CANADA /FI/ 0.05% of their portfolio | 1.2m $51.8m | Added +459.2k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 1.2m $52.1m | Reduced -1.3m |
| BARCLAYS PLC 0.02% of their portfolio | 1.1m $50.8m | Added +444.1k |
| Balyasny Asset Management L.P. 0.09% of their portfolio | 1.1m $49.4m | Added +1.0m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.1m $47.7m | Added +31.8k |
| Point72 Asset Management, L.P. 0.07% of their portfolio | 1.0m $46.9m | Reduced -371.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio | 1.0m $45.6m | Reduced -173.0k |
| CIBC WORLD MARKET INC. 0.08% of their portfolio | 1.0m $45.4m | Added +310.1k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.02% of their portfolio | 825.1k $37.0m | Added +91.6k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 708.1k $31.7m | Reduced -46.1k |
| GABELLI FUNDS LLC 0.19% of their portfolio | 662.1k $29.7m | Unchanged |
| Allspring Global Investments Holdings, LLC 0.05% of their portfolio | 657.6k $29.5m | Reduced -114.5k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.02% of their portfolio | 642.0k $28.7m | Reduced -2.7k |
| Driehaus Capital Management LLC 0.17% of their portfolio | 641.3k $28.7m | Reduced -211.9k |
| North of South Capital LLP 1.97% of their portfolio | 598.7k $26.8m | Reduced -552.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio | 570.1k $25.5m | Added +61.4k |
| Allianz Asset Management GmbH 0.03% of their portfolio | 556.2k $30.2m | Reduced -2.2k |
| Jupiter Topco LLC 0.01% of their portfolio | 554.0k $24.8m | First filing |
| TD Waterhouse Canada Inc. 0.06% of their portfolio | 549.2k $24.4m | Added +8.1k |
| BANK OF NOVA SCOTIA 0.04% of their portfolio | 546.9k $24.5m | Reduced -59.0k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.15% of their portfolio | 519.7k $23.3m | Added +158.7k |
| Assenagon Asset Management S.A. 0.01% of their portfolio | 513.5k $23.0m | Added +501.7k |
| Capital International, Inc./CA/ 0.16% of their portfolio | 505.9k $22.7m | Reduced -44.2k |
| ACADIAN ASSET MANAGEMENT LLC 0.03% of their portfolio | 502.0k $22.5m | Added +440.4k |
| Hamilton Capital Partners Inc. 0.65% of their portfolio | 499.9k $22.4m | Added +38.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 488.6k $21.9m | Added +6.4k |
| Trexquant Investment LP 0.13% of their portfolio | 481.6k $21.6m | Reduced -177.5k |
| PANAGORA ASSET MANAGEMENT INC 0.07% of their portfolio | 481.0k $21.5m | Added +120.7k |
| Nuveen, LLC 0.01% of their portfolio | 478.5k $21.4m | Added +30.1k |
| SG Americas Securities, LLC 0.01% of their portfolio | 471.9k $21.1m | Added +179.9k |
| Caisse de depot et placement du Quebec 0.03% of their portfolio | 419.5k $18.8m | Added +152.0k |
| AVIVA PLC 0.03% of their portfolio | 380.8k $17.0m | Added +19.9k |
| Groupe la Francaise 0.21% of their portfolio | 380.0k $17.0m | Added +40.0k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 378.6k $17.0m | Added +69.2k |
| GROUP ONE TRADING LLC 0.48% of their portfolio | 368.0k $16.5m | Added +68.3k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio | 365.0k $16.3m | New |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 361.6k $16.2m | Added +24.8k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 337.7k $15.1m | Added +131.2k |
| CAPITAL FUND MANAGEMENT S.A. 0.10% of their portfolio | 326.7k $14.6m | Reduced -120.1k |
| WESTWOOD HOLDINGS GROUP INC 0.10% of their portfolio | 302.8k $13.6m | Added +20.7k |
| IMC-Chicago, LLC 0.12% of their portfolio | 297.9k $13.3m | Reduced -113.3k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 291.5k $13.1m | Reduced -32.0k |
| Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group 3.35% of their portfolio | 286.3k $12.8m | Unchanged |
| Bridgewater Associates, LP 0.05% of their portfolio | 277.6k $12.4m | Added +126.1k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.02% of their portfolio | 272.4k $12.2m | Added +28.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 270.5k $12.1m | Added +118.0k |
| BUILDER INVESTMENT GROUP INC /ADV 2.37% of their portfolio | 267.4k $12.0m | Unchanged |
| Jump Financial, LLC 0.10% of their portfolio | 260.0k $11.6m | Added +247.2k |
| Gotham Asset Management, LLC 0.03% of their portfolio | 244.2k $10.9m | Added +34.2k |
| Walleye Trading LLC 0.15% of their portfolio | 242.9k $10.9m | Reduced -101.6k |
| CITIGROUP INC 0.01% of their portfolio | 241.8k $10.8m | Added +107.2k |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 233.5k $10.3m | Reduced -3.0k |