SIBANYE STILLWATER LTD SBSW
SPONSORED ADR · ADR · CUSIP 82575P107 · ISIN US82575P1075
The largest individual producer of gold from South Africa
- SectorMaterials
- IndustryGold and Silver Ores
- HeadquartersMeđreč, South Africa
- Founded2012
- Websitesibanyestillwater.com
- 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 ($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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 186 |
| Q4 2022 | 209 |
| Q1 2023 | 206 |
| Q2 2023 | 199 |
| Q3 2023 | 188 |
| Q4 2023 | 202 |
| Q1 2024 | 197 |
| Q2 2024 | 201 |
| Q3 2024 | 183 |
| Q4 2024 | 193 |
| Q1 2025 | 179 |
| Q2 2025 | 226 |
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 2023 | 91 | 92 |
| Q4 2023 | 109 | 77 |
| Q1 2024 | 98 | 102 |
| Q2 2024 | 121 | 77 |
| Q3 2024 | 87 | 110 |
| Q4 2024 | 91 | 84 |
| Q1 2025 | 89 | 93 |
| Q2 2025 | 131 | 84 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $7.9m | $52.3m | 6.66 |
| Q4 2024 | $8.7m | $33.3m | 3.84 |
| Q1 2025 | $14.1m | $26.1m | 1.85 |
| Q2 2025 | $73.8m | $45.8m | 0.62 |
Biggest buyers
| Nuveen, LLC | New | +9.0m |
| JPMORGAN CHASE & CO | Added | +6.4m |
| MORGAN STANLEY | Added | +5.0m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +4.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +3.2m |
| Condire Management, LP | Added | +2.6m |
| BlackRock, Inc. | Added | +2.5m |
| ACADIAN ASSET MANAGEMENT LLC | New | +2.4m |
| MARSHALL WACE, LLP | Added | +2.1m |
| Slate Path Capital LP | New | +1.9m |
Biggest sellers
| UBS Group AG | Reduced | -8.0m |
| Invesco Ltd. | Sold out | -4.6m |
| D. E. Shaw & Co., Inc. | Reduced | -2.4m |
| Walleye Capital LLC | Reduced | -2.3m |
| CITADEL ADVISORS LLC | Reduced | -1.9m |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.7m |
| Bridgewater Associates, LP | Reduced | -1.6m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -1.4m |
| TSP Capital Management Group, LLC | Sold out | -1.4m |
| Balyasny Asset Management L.P. | Reduced | -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.
| Holder | Stake |
|---|---|
| Lingotto Investment Management LLP 13G · passive investor filed 2026-05-15 | 5.3% |
| BlackRock, Inc. 13G · institution new · filed 2026-07-30 | 5.0% |
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
| Manager | Shares | Change |
|---|---|---|
| Lingotto Investment Management LLP 4.41% of their portfolio | 28.4m $205.3m | Added +263.6k |
| D. E. Shaw & Co., Inc. 0.07% of their portfolio | 9.4m $68.2m | Reduced -2.4m |
| Nuveen, LLC 0.02% of their portfolio | 9.0m $64.7m | New |
| MORGAN STANLEY 0.00% of their portfolio | 7.6m $54.6m | Added +5.0m |
| TWO SIGMA INVESTMENTS, LP 0.09% of their portfolio | 7.3m $52.3m | Reduced -1.4m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 6.4m $46.2m | Added +6.4m |
| Condire Management, LP 6.64% of their portfolio | 6.4m $46.1m | Added +2.6m |
| TWO SIGMA ADVISERS, LP 0.09% of their portfolio | 5.8m $41.8m | Reduced -305.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio | 4.9m $35.5m | Added +4.1m |
| MARSHALL WACE, LLP 0.04% of their portfolio | 4.8m $34.3m | Added +2.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 3.5m $25.2m | Added +3.2m |
| Goehring & Rozencwajg Associates, LLC 3.70% of their portfolio | 3.3m $24.2m | Added +599.1k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 3.2m $23.2m | Added +35.1k |
| UBS Group AG 0.00% of their portfolio | 3.2m $23.1m | Reduced -8.0m |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 3.1m $22.7m | Reduced -429.9k |
| BlackRock, Inc. 0.00% of their portfolio | 3.1m $22.3m | Added +2.5m |
| RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio | 3.0m $21.4m | Added +1.7m |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 2.9m $20.7m | Reduced -63.5k |
| Jump Financial, LLC 0.24% of their portfolio | 2.7m $19.3m | Added +1.3m |
| ACADIAN ASSET MANAGEMENT LLC 0.04% of their portfolio | 2.4m $17.4m | New |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 2.0m $14.4m | Added +474.4k |
| Slate Path Capital LP 0.24% of their portfolio | 1.9m $13.9m | New |
| Cubist Systematic Strategies, LLC 0.15% of their portfolio | 1.9m $13.7m | Reduced -1.0m |
| TSP Capital Management Group, LLC 4.13% of their portfolio | 1.8m $13.1m | New |
| Linden Advisors LP 0.07% of their portfolio | 1.6m $11.3m | Added +1.4m |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 1.4m $10.1m | Reduced -1.9m |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.2m $9.0m | Added +1.2m |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 1.2m $8.6m | Added +378.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.1m $8.2m | Added +124.7k |
| ABC ARBITRAGE SA 0.92% of their portfolio | 1.1m $8.1m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 1.1m $7.7m | Added +487.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 1.0m $7.5m | Reduced -621.8k |
| PANAGORA ASSET MANAGEMENT INC 0.03% of their portfolio | 1.0m $7.4m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 993.6k $7.2m | Reduced -1.7m |
| Bridgewater Associates, LP 0.02% of their portfolio | 797.7k $5.8m | Reduced -1.6m |
| GROUP ONE TRADING LLC 0.17% of their portfolio | 720.8k $5.2m | Reduced -384.1k |
| BCGM Wealth Management, LLC 1.41% of their portfolio | 692.9k $5.0m | Added +26.2k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 687.8k $5.0m | Added +135.5k |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 591.3k $4.3m | New |
| Trexquant Investment LP 0.05% of their portfolio | 572.0k $4.1m | New |
| U S GLOBAL INVESTORS INC 0.47% of their portfolio | 556.5k $4.0m | New |
| Aquatic Capital Management LLC 0.07% of their portfolio | 506.3k $3.7m | Added +231.3k |
| LPL Financial LLC 0.00% of their portfolio | 496.1k $3.6m | Reduced -13.0k |
| Trek Financial, LLC 0.22% of their portfolio | 445.1k $3.2m | New |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio | 444.9k $416.0k | New |
| AXA S.A. 0.01% of their portfolio | 422.5k $3.1m | Unchanged |
| Glenorchy Capital Ltd 2.20% of their portfolio | 414.4k $3.0m | Reduced -424.4k |
| SG Americas Securities, LLC 0.01% of their portfolio | 410.6k $3.0m | Added +328.2k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 383.8k $2.8m | Added +119.1k |
| DJE Kapital AG 0.06% of their portfolio | 364.8k $2.6m | New |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 317.7k $2.3m | Added +312.1k |
| BARCLAYS PLC 0.00% of their portfolio | 316.9k $2.3m | Added +236.9k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 281.5k $2.0m | Added +26.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 261.8k $1.9m | Reduced -1.1m |
| Eschler Asset Management LLP 1.37% of their portfolio | 251.6k $1.8m | New |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 251.3k $1.8m | New |
| NOMURA HOLDINGS INC 0.01% of their portfolio | 225.6k $1.6m | Added +169.8k |
| Man Group plc 0.00% of their portfolio | 214.8k $1.6m | Added +180.3k |
| D.A. DAVIDSON & CO. 0.01% of their portfolio | 205.6k $1.5m | New |
| Pathstone Holdings, LLC 0.01% of their portfolio | 197.9k $1.4m | Added +68.9k |
| Vident Advisory, LLC 0.02% of their portfolio | 194.6k $1.4m | Reduced -23.2k |
| REGIONS FINANCIAL CORP 0.01% of their portfolio | 194.0k $1.4m | Added +159.0k |
| Federation des caisses Desjardins du Quebec 0.01% of their portfolio | 186.9k $1.3m | Added +104.2k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 161.2k $1.2m | Added +121.3k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 159.2k $1.1m | Reduced -169.7k |
| Cetera Investment Advisers 0.00% of their portfolio | 151.8k $1.1m | Added +12.3k |
| Moran Wealth Management, LLC 0.03% of their portfolio | 150.2k $1.1m | New |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 127.3k $919.3k | New |
| Verition Fund Management LLC 0.01% of their portfolio | 126.6k $913.8k | New |
| Stonehage Fleming Financial Services Holdings Ltd 0.02% of their portfolio | 119.2k $860.9k | Added +64.9k |
| Cadence Wealth Management LLC 0.55% of their portfolio | 114.7k $828.5k | Added +7.6k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 112.4k $812.0k | Added +7.4k |
| Sigma Planning Corp 0.02% of their portfolio | 111.4k $804.4k | Reduced -1.6k |
| Y-Intercept (Hong Kong) Ltd 0.02% of their portfolio | 108.9k $786.2k | New |
| EVERGREEN CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 107.3k $774.4k | Reduced -25.5k |
| Concentric Capital Strategies, LP 0.04% of their portfolio | 105.7k $763.2k | New |
| Creative Planning 0.00% of their portfolio | 105.3k $760.5k | Reduced -6.2k |
| Headlands Technologies LLC 0.09% of their portfolio | 104.7k $756.1k | Added +103.7k |
| Mariner, LLC 0.00% of their portfolio | 100.7k $727.3k | Added +57.6k |
| WEXFORD CAPITAL LP 0.20% of their portfolio | 100.0k $722.0k | New |
| Manatuck Hill Partners, LLC 0.27% of their portfolio | 100.0k $722.0k | New |
| Massar Capital Management, LP 0.54% of their portfolio | 100.0k $722.0k | Reduced -210.0k |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 96.7k $698.5k | New |
| GUGGENHEIM CAPITAL LLC 0.01% of their portfolio | 96.2k $694.8k | Reduced -439.8k |
| Sowell Financial Services LLC 0.03% of their portfolio | 88.5k $639.3k | Reduced -88.1k |
| Vanguard Capital Wealth Advisors 0.63% of their portfolio | 87.7k $633.1k | Not comparable |
| Mandatum Life Insurance Co Ltd 0.16% of their portfolio | 82.0k $592.1k | Reduced -880 |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 80.0k $559.0k | Unchanged |
| AIRE ADVISORS, LLC 0.11% of their portfolio | 80.0k $577.6k | Added +9.9k |
| Squarepoint Ops LLC 0.00% of their portfolio | 78.1k $564.0k | Reduced -183.2k |
| GTS SECURITIES LLC 0.02% of their portfolio | 76.5k $552.3k | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 75.9k $532.2k | New |
| STRS OHIO 0.00% of their portfolio | 74.9k $540.8k | Unchanged |
| Engineers Gate Manager LP 0.01% of their portfolio | 67.6k $488.4k | New |
| SEI INVESTMENTS CO 0.00% of their portfolio | 65.1k $469.8k | New |
| Baird Financial Group, Inc. 0.00% of their portfolio | 63.9k $461.0k | Unchanged |
| Steadtrust LLC 0.35% of their portfolio | 62.0k $447.6k | First filing |
| Essex Financial Services, Inc. 0.03% of their portfolio | 60.7k $438.2k | New |
| PROFUND ADVISORS LLC 0.02% of their portfolio | 59.4k $428.8k | Reduced -1.6k |
| Quadrature Capital Ltd 0.01% of their portfolio | 58.7k $424.4k | New |