Vault-13

SIBANYE STILLWATER LTD SBSW

SPONSORED ADR · ADR · CUSIP 82575P107 · ISIN US82575P1075

The largest individual producer of gold from South Africa

226 institutional holders +47 vs Q1 2025
154,775,084154.8m shares reported held*
$1.1bnreported value*
65 new 66 added 63 reduced 21 sold out net bought ≈ $176.7m (+23.0m 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 ($3.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $7.29. Options: 19 managers hold calls ($73.8m notional), 14 hold puts ($45.8m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 186Q4 22: 209Q1 23: 206Q2 23: 199Q3 23: 188Q4 23: 202Q1 24: 197Q2 24: 201Q3 24: 183Q4 24: 193Q1 25: 179Q2 25: 226226Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022186
Q4 2022209
Q1 2023206
Q2 2023199
Q3 2023188
Q4 2023202
Q1 2024197
Q2 2024201
Q3 2024183
Q4 2024193
Q1 2025179
Q2 2025226

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 91 bought or addedQ3 23: 92 cut or sold outQ4 23: 109 bought or addedQ4 23: 77 cut or sold outQ4 23Q1 24: 98 bought or addedQ1 24: 102 cut or sold outQ2 24: 121 bought or addedQ2 24: 77 cut or sold outQ2 24Q3 24: 87 bought or addedQ3 24: 110 cut or sold outQ4 24: 91 bought or addedQ4 24: 84 cut or sold outQ4 24Q1 25: 89 bought or addedQ1 25: 93 cut or sold outQ2 25: 131 bought or addedQ2 25: 84 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20239192
Q4 202310977
Q1 202498102
Q2 202412177
Q3 202487110
Q4 20249184
Q1 20258993
Q2 202513184

Calls vs puts

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

CallsPuts
$0$20m$40m$60m$80mQ3 24 calls: $7.9mQ3 24 puts: $52.3mQ3 24P/C 6.66Q4 24 calls: $8.7mQ4 24 puts: $33.3mQ4 24P/C 3.84Q1 25 calls: $14.1mQ1 25 puts: $26.1mQ1 25P/C 1.85Q2 25 calls: $73.8mQ2 25 puts: $45.8mQ2 25P/C 0.62
Numbers
QuarterCallsPutsP/C
Q3 2024$7.9m$52.3m6.66
Q4 2024$8.7m$33.3m3.84
Q1 2025$14.1m$26.1m1.85
Q2 2025$73.8m$45.8m0.62

Biggest buyers

Nuveen, LLC New +8,962,747+9.0m
JPMORGAN CHASE & CO Added +6,385,932+6.4m
MORGAN STANLEY Added +4,974,969+5.0m
VOLORIDGE INVESTMENT MANAGEMENT, LLC Added +4,122,403+4.1m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +3,212,833+3.2m
Condire Management, LP Added +2,596,184+2.6m
BlackRock, Inc. Added +2,453,213+2.5m
ACADIAN ASSET MANAGEMENT LLC New +2,406,432+2.4m
MARSHALL WACE, LLP Added +2,068,178+2.1m
Slate Path Capital LP New +1,919,000+1.9m

Biggest sellers

UBS Group AG Reduced -8,031,591-8.0m
Invesco Ltd. Sold out -4,582,502-4.6m
D. E. Shaw & Co., Inc. Reduced -2,361,294-2.4m
Walleye Capital LLC Reduced -2,338,691-2.3m
CITADEL ADVISORS LLC Reduced -1,933,881-1.9m
BANK OF AMERICA CORP /DE/ Reduced -1,663,476-1.7m
Bridgewater Associates, LP Reduced -1,589,385-1.6m
TWO SIGMA INVESTMENTS, LP Reduced -1,416,284-1.4m
TSP Capital Management Group, LLC Sold out -1,384,475-1.4m
Balyasny Asset Management L.P. Reduced -1,367,488-1.4m

Biggest calls

PEAK6 LLC New $19.0m2.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $17.5m2.4m shares
GROUP ONE TRADING LLC Added $15.4m2.1m shares
SIMPLEX TRADING, LLC Added $6.2m852.8k shares
JANE STREET GROUP, LLC Added $5.2m723.8k shares
WOLVERINE TRADING, LLC Added $1.6m229.4k shares
D. E. Shaw & Co., Inc. New $1.5m212.8k shares
IMC-Chicago, LLC Added $1.5m208.3k shares
Walleye Trading LLC Added $1.3m176.1k shares
CITADEL ADVISORS LLC Added $1.1m156.8k shares

Biggest puts

TWO SIGMA INVESTMENTS, LP Unchanged $13.1m1.8m shares
GROUP ONE TRADING LLC Added $8.0m1.1m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $7.6m1.1m shares
CITADEL ADVISORS LLC Reduced $4.8m658.1k shares
SIMPLEX TRADING, LLC Added $3.7m507.1k shares
Squarepoint Ops LLC Reduced $2.7m370.0k shares
Walleye Capital LLC Added $1.9m259.6k shares
IMC-Chicago, LLC Added $1.4m194.3k shares
WOLVERINE TRADING, LLC Added $1.1m151.1k shares
Walleye Trading LLC Added $971.8k134.6k 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
Lingotto Investment Management LLP 13G · passive investor filed 2026-05-15 5.3% 150.7m 2026-05-15
BlackRock, Inc. 13G · institution new · filed 2026-07-30 5.0% new 142.7m 2026-07-30

Fell to 5% or below in the last year: JPMORGAN CHASE & CO (4.7%, 2026-01-16)

Insider purchases and sales in Q2 2025

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 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Lingotto Investment Management LLP 4.41% of their portfolio London, X0 28,430,40928.4m $205.3m $205.3m 4.41% Added +263.6k +263,600
2 D. E. Shaw & Co., Inc. 0.07% of their portfolio New York, NY 9,441,1909.4m $68.2m $68.2m 0.07% Reduced -2.4m -2,361,294
3 Nuveen, LLC 0.02% of their portfolio CHARLOTTE, NC 8,962,7479.0m $64.7m $64.7m 0.02% New
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,558,5907.6m $54.6m $54.6m 0.00% Added +5.0m +4,974,969
5 TWO SIGMA INVESTMENTS, LP 0.09% of their portfolio NEW YORK, NY 7,250,1607.3m $52.3m $52.3m 0.09% Reduced -1.4m -1,416,284
6 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,405,2886.4m $46.2m $46.2m 0.00% Added +6.4m +6,385,932
7 Condire Management, LP 6.64% of their portfolio DALLAS, TX 6,386,7396.4m $46.1m $46.1m 6.64% Added +2.6m +2,596,184
8 TWO SIGMA ADVISERS, LP 0.09% of their portfolio NEW YORK, NY 5,785,3005.8m $41.8m $41.8m 0.09% Reduced -305.2k -305,200
9 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio JUPITER, FL 4,922,8814.9m $35.5m $35.5m 0.13% Added +4.1m +4,122,403
10 MARSHALL WACE, LLP 0.04% of their portfolio LONDON, X0 4,752,8584.8m $34.3m $34.3m 0.04% Added +2.1m +2,068,178
11 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio BOSTON, MA 3,495,5253.5m $25.2m $25.2m 0.02% Added +3.2m +3,212,833
12 Goehring & Rozencwajg Associates, LLC 3.70% of their portfolio NEW YORK, NY 3,348,8413.3m $24.2m $24.2m 3.70% Added +599.1k +599,131
13 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 3,206,7743.2m $23.2m $23.2m 0.02% Added +35.1k +35,115
14 UBS Group AG 0.00% of their portfolio ZURICH, V8 3,193,7713.2m $23.1m $23.1m 0.00% Reduced -8.0m -8,031,591
15 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 3,146,3393.1m $22.7m $22.7m 0.00% Reduced -429.9k -429,916
16 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,094,3803.1m $22.3m $22.3m 0.00% Added +2.5m +2,453,213
17 RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio NEW YORK, NY 2,967,6043.0m $21.4m $21.4m 0.03% Added +1.7m +1,673,700
18 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 2,863,5932.9m $20.7m $20.7m 0.00% Reduced -63.5k -63,490
19 Jump Financial, LLC 0.24% of their portfolio Chicago, IL 2,672,8262.7m $19.3m $19.3m 0.24% Added +1.3m +1,342,244
20 ACADIAN ASSET MANAGEMENT LLC 0.04% of their portfolio Boston, MA 2,406,4322.4m $17.4m $17.4m 0.04% New
21 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 1,996,6062.0m $14.4m $14.4m 0.01% Added +474.4k +474,386
22 Slate Path Capital LP 0.24% of their portfolio New York, NY 1,919,0001.9m $13.9m $13.9m 0.24% New
23 Cubist Systematic Strategies, LLC 0.15% of their portfolio STAMFORD, CT 1,892,2991.9m $13.7m $13.7m 0.15% Reduced -1.0m -1,022,574
24 TSP Capital Management Group, LLC 4.13% of their portfolio Summit, NJ 1,820,6751.8m $13.1m $13.1m 4.13% New
25 Linden Advisors LP 0.07% of their portfolio New York, NY 1,570,8081.6m $11.3m $11.3m 0.07% Added +1.4m +1,404,199
26 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 1,395,3141.4m $10.1m $10.1m 0.01% Reduced -1.9m -1,933,881
27 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,240,6641.2m $9.0m $9.0m 0.00% Added +1.2m +1,234,258
28 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 1,197,5211.2m $8.6m $8.6m 0.01% Added +378.0k +377,956
29 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,131,4721.1m $8.2m $8.2m 0.00% Added +124.7k +124,667
30 ABC ARBITRAGE SA 0.92% of their portfolio PARIS, I0 1,119,8171.1m $8.1m $8.1m 0.92% New
31 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 1,069,6571.1m $7.7m $7.7m 0.01% Added +487.9k +487,928
32 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 1,036,8121.0m $7.5m $7.5m 0.00% Reduced -621.8k -621,773
33 PANAGORA ASSET MANAGEMENT INC 0.03% of their portfolio BOSTON, MA 1,030,6521.0m $7.4m $7.4m 0.03% New
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 993,607993.6k $7.2m $7.2m 0.00% Reduced -1.7m -1,663,476
35 Bridgewater Associates, LP 0.02% of their portfolio Westport, CT 797,716797.7k $5.8m $5.8m 0.02% Reduced -1.6m -1,589,385
36 GROUP ONE TRADING LLC 0.17% of their portfolio CHICAGO, IL 720,768720.8k $5.2m $5.2m 0.17% Reduced -384.1k -384,110
37 BCGM Wealth Management, LLC 1.41% of their portfolio LAFAYETTE, IN 692,934692.9k $5.0m $5.0m 1.41% Added +26.2k +26,208
38 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 687,758687.8k $5.0m $5.0m 0.00% Added +135.5k +135,519
39 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 591,334591.3k $4.3m $4.3m 0.00% New
40 Trexquant Investment LP 0.05% of their portfolio STAMFORD, CT 571,969572.0k $4.1m $4.1m 0.05% New
41 U S GLOBAL INVESTORS INC 0.47% of their portfolio SAN ANTONIO, TX 556,542556.5k $4.0m $4.0m 0.47% New
42 Aquatic Capital Management LLC 0.07% of their portfolio CHICAGO, IL 506,288506.3k $3.7m $3.7m 0.07% Added +231.3k +231,324
43 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 496,086496.1k $3.6m $3.6m 0.00% Reduced -13.0k -13,037
44 Trek Financial, LLC 0.22% of their portfolio Scottsdale, AZ 445,131445.1k $3.2m $3.2m 0.22% New
45 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio HARRISBURG, PA 444,870444.9k $416.0k $416.0k 0.00% New
46 AXA S.A. 0.01% of their portfolio PARIS, I0 422,521422.5k $3.1m $3.1m 0.01% Unchanged
47 Glenorchy Capital Ltd 2.20% of their portfolio BOOROLITE, C3 414,405414.4k $3.0m $3.0m 2.20% Reduced -424.4k -424,381
48 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 410,626410.6k $3.0m $3.0m 0.01% Added +328.2k +328,154
49 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 383,800383.8k $2.8m $2.8m 0.01% Added +119.1k +119,100
50 DJE Kapital AG 0.06% of their portfolio 82049 PULLACH, 2M 364,800364.8k $2.6m $2.6m 0.06% New
51 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 317,714317.7k $2.3m $2.3m 0.00% Added +312.1k +312,114
52 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 316,865316.9k $2.3m $2.3m 0.00% Added +236.9k +236,865
53 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 281,493281.5k $2.0m $2.0m 0.00% Added +26.5k +26,474
54 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 261,773261.8k $1.9m $1.9m 0.00% Reduced -1.1m -1,094,158
55 Eschler Asset Management LLP 1.37% of their portfolio London, X0 251,590251.6k $1.8m $1.8m 1.37% New
56 ExodusPoint Capital Management, LP 0.02% of their portfolio NEW YORK, NY 251,288251.3k $1.8m $1.8m 0.02% New
57 NOMURA HOLDINGS INC 0.01% of their portfolio TOKYO, M0 225,593225.6k $1.6m $1.6m 0.01% Added +169.8k +169,793
58 Man Group plc 0.00% of their portfolio LONDON, X0 214,800214.8k $1.6m $1.6m 0.00% Added +180.3k +180,300
59 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 205,550205.6k $1.5m $1.5m 0.01% New
60 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 197,891197.9k $1.4m $1.4m 0.01% Added +68.9k +68,931
61 Vident Advisory, LLC 0.02% of their portfolio Alpharetta, GA 194,643194.6k $1.4m $1.4m 0.02% Reduced -23.2k -23,169
62 REGIONS FINANCIAL CORP 0.01% of their portfolio BIRMINGHAM, AL 194,000194.0k $1.4m $1.4m 0.01% Added +159.0k +159,000
63 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 186,950186.9k $1.3m $1.3m 0.01% Added +104.2k +104,200
64 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 161,226161.2k $1.2m $1.2m 0.00% Added +121.3k +121,317
65 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 159,209159.2k $1.1m $1.1m 0.00% Reduced -169.7k -169,691
66 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 151,755151.8k $1.1m $1.1m 0.00% Added +12.3k +12,256
67 Moran Wealth Management, LLC 0.03% of their portfolio NAPLES, FL 150,179150.2k $1.1m $1.1m 0.03% New
68 Assenagon Asset Management S.A. 0.00% of their portfolio SENNINGERBERG, N4 127,322127.3k $919.3k $919.3k 0.00% New
69 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 126,568126.6k $913.8k $913.8k 0.01% New
70 Stonehage Fleming Financial Services Holdings Ltd 0.02% of their portfolio ST. HELIER, Y9 119,235119.2k $860.9k $860.9k 0.02% Added +64.9k +64,890
71 Cadence Wealth Management LLC 0.55% of their portfolio WESTBOROUGH, MA 114,744114.7k $828.5k $828.5k 0.55% Added +7.6k +7,561
72 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 112,405112.4k $812.0k $812.0k 0.00% Added +7.4k +7,352
73 Sigma Planning Corp 0.02% of their portfolio ANN ARBOR, MI 111,411111.4k $804.4k $804.4k 0.02% Reduced -1.6k -1,585
74 Y-Intercept (Hong Kong) Ltd 0.02% of their portfolio HONG KONG, K3 108,888108.9k $786.2k $786.2k 0.02% New
75 EVERGREEN CAPITAL MANAGEMENT LLC 0.02% of their portfolio Bellevue, WA 107,255107.3k $774.4k $774.4k 0.02% Reduced -25.5k -25,545
76 Concentric Capital Strategies, LP 0.04% of their portfolio Stamford, CT 105,709105.7k $763.2k $763.2k 0.04% New
77 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 105,339105.3k $760.5k $760.5k 0.00% Reduced -6.2k -6,192
78 Headlands Technologies LLC 0.09% of their portfolio CHICAGO, IL 104,724104.7k $756.1k $756.1k 0.09% Added +103.7k +103,742
79 Mariner, LLC 0.00% of their portfolio Overland Park, KS 100,731100.7k $727.3k $727.3k 0.00% Added +57.6k +57,578
80 WEXFORD CAPITAL LP 0.20% of their portfolio WEST PALM BEACH, FL 100,000100.0k $722.0k $722.0k 0.20% New
81 Manatuck Hill Partners, LLC 0.27% of their portfolio WESTPORT, CT 100,000100.0k $722.0k $722.0k 0.27% New
82 Massar Capital Management, LP 0.54% of their portfolio STAMFORD, CT 100,000100.0k $722.0k $722.0k 0.54% Reduced -210.0k -210,000
83 TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio STAMFORD, CT 96,74096.7k $698.5k $698.5k 0.01% New
84 GUGGENHEIM CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 96,23396.2k $694.8k $694.8k 0.01% Reduced -439.8k -439,790
85 Sowell Financial Services LLC 0.03% of their portfolio NORTH LITTLE ROCK, AR 88,54588.5k $639.3k $639.3k 0.03% Reduced -88.1k -88,082
86 Vanguard Capital Wealth Advisors 0.63% of their portfolio DENVER, CO 87,69087.7k $633.1k $633.1k 0.63% Not comparable
87 Mandatum Life Insurance Co Ltd 0.16% of their portfolio HELSINKI, H9 82,00382.0k $592.1k $592.1k 0.16% Reduced -880 -880
88 DekaBank Deutsche Girozentrale 0.00% of their portfolio FRANKFURT, 2M 80,00080.0k $559.0k $559.0k 0.00% Unchanged
89 AIRE ADVISORS, LLC 0.11% of their portfolio BEVERLY HILLS, CA 80,00080.0k $577.6k $577.6k 0.11% Added +9.9k +9,940
90 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 78,11578.1k $564.0k $564.0k 0.00% Reduced -183.2k -183,232
91 GTS SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 76,50276.5k $552.3k $552.3k 0.02% New
92 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 75,92175.9k $532.2k $532.2k 0.00% New
93 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 74,90074.9k $540.8k $540.8k 0.00% Unchanged
94 Engineers Gate Manager LP 0.01% of their portfolio NEW YORK, NY 67,64267.6k $488.4k $488.4k 0.01% New
95 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 65,07265.1k $469.8k $469.8k 0.00% New
96 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 63,85063.9k $461.0k $461.0k 0.00% Unchanged
97 Steadtrust LLC 0.35% of their portfolio ALLEN, TX 62,00062.0k $447.6k $447.6k 0.35% First filing
98 Essex Financial Services, Inc. 0.03% of their portfolio ESSEX, CT 60,69960.7k $438.2k $438.2k 0.03% New
99 PROFUND ADVISORS LLC 0.02% of their portfolio BETHESDA, MD 59,38459.4k $428.8k $428.8k 0.02% Reduced -1.6k -1,605
100 Quadrature Capital Ltd 0.01% of their portfolio LONDON, X0 58,74458.7k $424.4k $424.4k 0.01% New