Vault-13

SEABRIDGE GOLD INC

COM · CUSIP 811916105 · ISIN CA8119161054

15 institutional holders -181 vs Q1 2026
599,373599.4k shares reported held*
$15.5mreported value*
2 new 2 added 6 reduced 179 sold out net sold ≈ $1.1bn (-43.6m 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. Holder counts are more reliable. Implied quarter-end price ≈ $25.79.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 126Q4 22: 133Q1 23: 132Q2 23: 140Q3 23: 138Q4 23: 144Q1 24: 154Q2 24: 156Q3 24: 165Q4 24: 177Q1 25: 165Q2 25: 173Q3 25: 159Q4 25: 201Q1 26: 196Q2 26: 1515Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 2022126
Q4 2022133
Q1 2023132
Q2 2023140
Q3 2023138
Q4 2023144
Q1 2024154
Q2 2024156
Q3 2024165
Q4 2024177
Q1 2025165
Q2 2025173
Q3 2025159
Q4 2025201
Q1 2026196
Q2 202615

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 24: 69 bought or addedQ3 24: 64 cut or sold outQ4 24: 82 bought or addedQ4 24: 63 cut or sold outQ4 24Q1 25: 88 bought or addedQ1 25: 65 cut or sold outQ2 25: 89 bought or addedQ2 25: 64 cut or sold outQ2 25Q3 25: 87 bought or addedQ3 25: 80 cut or sold outQ4 25: 110 bought or addedQ4 25: 66 cut or sold outQ4 25Q1 26: 90 bought or addedQ1 26: 88 cut or sold outQ2 26: 4 bought or addedQ2 26: 185 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20246964
Q4 20248263
Q1 20258865
Q2 20258964
Q3 20258780
Q4 202511066
Q1 20269088
Q2 20264185

Calls vs puts

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

CallsPuts
$0$25m$50m$75m$100mQ3 25 calls: $57.0mQ3 25 puts: $42.0mQ3 25P/C 0.74Q4 25 calls: $89.4mQ4 25 puts: $76.5mQ4 25P/C 0.86Q1 26 calls: $90.0mQ1 26 puts: $56.7mQ1 26P/C 0.63Q2 26 calls: $0Q2 26 puts: $0Q2 26P/C —
Numbers
QuarterCallsPutsP/C
Q3 2025$57.0m$42.0m0.74
Q4 2025$89.4m$76.5m0.86
Q1 2026$90.0m$56.7m0.63
Q2 2026$0$0—

Biggest buyers

KEATING INVESTMENT COUNSELORS INC New +156,233+156.2k
CARY STREET PARTNERS FINANCIAL LLC Added +1,300+1.3k
NVWM, LLC New +250+250
CoreCap Advisors, LLC Added +100+100

Biggest sellers

Kopernik Global Investors, LLC Sold out -7,332,863-7.3m
VAN ECK ASSOCIATES CORP Sold out -6,535,830-6.5m
Tidal Investments LLC Sold out -4,049,075-4.0m
VANGUARD CAPITAL MANAGEMENT LLC Sold out -2,584,390-2.6m
CIBC WORLD MARKET INC. Sold out -2,212,943-2.2m
MORGAN STANLEY Sold out -1,955,941-2.0m
ONTARIO TEACHERS PENSION PLAN BOARD Sold out -1,664,634-1.7m
RAYMOND JAMES FINANCIAL INC Sold out -1,336,665-1.3m
TORONTO DOMINION BANK Sold out -1,040,343-1.0m
CITADEL ADVISORS LLC Sold out -804,807-804.8k

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
FCMI Parent Co. 13D · may seek influence filed 2025-03-06
Stated purposeItem 4 of the Statement is hereby supplemented as follows: PAHL acquired the 4,419,179 Common Shares reported in this Schedule 13D (Amendment No. 17), for investment purposes. On March 3, 2025, PAHL completed the unwinding of a cash-settled total return swap transaction between PAHL and National Bank of Canada ("NBC") originally entered into on July 16, 2014 and previously disclosed in this Statement (the "TRS"). Following the unwinding of the TRS, PAHL purchased the 4,419,179 Common Shares to replace its economic exposure to the Issuer with full equity ownership in the Issuer. PAHL used cash from its working capital to acquire the 4,419,179 Common Shares through the facilities of the New York Stock Exchange. FCMI Parent acquired the 120,000 Common Shares reported in this Schedule 13D (… Full filing
 16.1% 16.2m≈ $416.6m 2025-03-06
Kopernik Global Investors, LLC 13G · institution -0.3 pts · filed 2026-06-04 10.3% -0.3 pts 11.0m≈ $284.3m 2026-06-04
VAN ECK ASSOCIATES CORP 13G · institution -1.3 pts · filed 2026-02-13 7.0% -1.3 pts 7.3m≈ $187.0m 2026-02-13

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Knoll Capital Management, LLC 4.55% of their portfolio MIAMI, FL 317,003317.0k $8.2m $8.2m 4.55% Unchanged
2 KEATING INVESTMENT COUNSELORS INC 1.10% of their portfolio DELRAY BEACH, FL 156,233156.2k $4.0m $4.0m 1.10% New
3 ARMOR ADVISORS, L.L.C. 1.05% of their portfolio NEW YORK, NY 49,71649.7k $1.3m $1.3m 1.05% Reduced -1.4k -1,416
4 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 29,61529.6k $762.3k $762.3k 0.00% Reduced -11.0k -10,970
5 WALLED LAKE PLANNING & WEALTH MANAGEMENT, LLC 0.10% of their portfolio HIGHLAND PARK, IL 16,09516.1k $414.3k $414.3k 0.10% Unchanged
6 One Capital Management, LLC 0.01% of their portfolio WESTLAKE VILLAGE, CA 10,98011.0k $311.2k $311.2k 0.01% Unchanged
7 CARY STREET PARTNERS FINANCIAL LLC 0.00% of their portfolio RICHMOND, VA 8,4208.4k $216.7k $216.7k 0.00% Added +1.3k +1,300
8 Versant Capital Management, Inc 0.01% of their portfolio PHOENIX, AZ 4,0004.0k $103.0k $103.0k 0.01% Unchanged
9 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 3,3853.4k $87.1k $87.1k 0.00% Reduced -250 -250
10 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 2,5732.6k $66.2k $66.2k 0.00% Reduced -626 -626
11 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 526526 $13.5k $13.5k 0.00% Added +100 +100
12 LRI Investments, LLC 0.00% of their portfolio PALM BEACH GARDENS, FL 442442 $11.4k $11.4k 0.00% Unchanged
13 NVWM, LLC 0.00% of their portfolio YARDLEY, PA 250250 $6.4k $6.4k 0.00% New
14 Aventura Private Wealth, LLC 0.00% of their portfolio AVENTURA, FL 8585 $2.2k $2.2k 0.00% Reduced -9 -9
15 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 5050 $1.3k $1.3k 0.00% Reduced -17 -17