Cipher Capital’s Fortuna Silver Mines FSM Stock Holding History

Cipher Capital’s Portfolio FSM Stock Details FSM Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-36,404	Closed	-$159K	–	561
2018 Q3	$159K	Sell	36,404 -893	-2%	-$4.38K	0.03%	453
2018 Q2	$212K	Buy	+37,297	New	+$209K	0.04%	426
2018 Q1	–	Sell	-113,843	Closed	-$594K	–	602
2017 Q4	$594K	Sell	113,843 -159,619	-58%	-$719K	0.05%	446
2017 Q3	$1.2M	Sell	273,462 -33,100	-11%	-$155K	0.09%	353
2017 Q2	$1.5M	Buy	306,562 +68,774	+29%	+$330K	0.12%	304
2017 Q1	$1.24M	Buy	237,788 +51,867	+28%	+$306K	0.09%	346
2016 Q4	$1.05M	Buy	185,921 +66,218	+55%	+$417K	0.07%	389
2016 Q3	$867K	Buy	+119,703	New	+$997K	0.05%	468

Other funds holding FSM

VanEck Associates New York $133B AUM 72.99% 1-Year Est. Return

Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return

EPIM

Equinox Partners Investment Management Stamford, Connecticut $245M AUM 225.58% 1-Year Est. Return

Connor, Clark & Lunn Investment Management (CC&L) Vancouver, British Columbia, Canada $43.4B AUM 51.29% 1-Year Est. Return

Mirae Asset Global Investments Seoul, South Korea $299B AUM 28.69% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

ISL

Ingalls & Snyder LLC New York $2.83B AUM 21.61% 1-Year Est. Return

Deutsche Bank Frankfurt Am Main Ge, Germany $303B AUM 30.15% 1-Year Est. Return

Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $116B AUM 26.37% 1-Year Est. Return

Sprott Inc Toronto, Ontario, Canada $3.44B AUM 125.26% 1-Year Est. Return

Cipher Capital's FSM Position: Q4 2018 in Review

Cipher Capital sold out of Fortuna Silver Mines (FSM) in Q4 2018, closing a stake of 36,404 shares — an estimated $159K sold.

Cipher Capital first reported a position in FSM in Q3 2016 and held it in 8 quarters. The position peaked at $1.5M in Q2 2017. 120 funds tracked by Wall St. Rank hold FSM as of Q4 2018.

Cipher Capital reported no remaining Fortuna Silver Mines position as of Q4 2018 after selling out during the quarter.
Cipher Capital sold 36,404 Fortuna Silver Mines shares in Q4 2018, an estimated $159K.
Cipher Capital first reported a position in Fortuna Silver Mines in Q3 2016 and held it in 8 quarters.
Cipher Capital's Fortuna Silver Mines position peaked at $1.5M in Q2 2017.
120 funds tracked by Wall St. Rank held Fortuna Silver Mines as of Q4 2018.

Based on Cipher Capital's 13F filing for Q4 2018, filed 14 Feb 2019.