Slate Path Capital’s Pan American Silver PAAS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	–	Sell	-1,334,280	Closed	-$69.1M	–	60
2025 Q4	$69.1M	Sell	1,334,280 -1,860,520	-58%	-$77.9M	0.93%	31
2025 Q3	$124M	Sell	3,194,800 -1,522,200	-32%	-$48.9M	1.91%	20
2025 Q2	$134M	Hold	4,717,000	–	–	2.31%	18
2025 Q1	$122M	Hold	4,717,000	–	–	2.2%	20
2024 Q4	$95.4M	Sell	4,717,000 -676,000	-13%	-$15.1M	1.72%	27
2024 Q3	$113M	Buy	5,393,000 +136,000	+3%	+$2.87M	1.89%	24
2024 Q2	$105M	Hold	5,257,000	–	–	2.12%	20
2024 Q1	$79.3M	Hold	5,257,000	–	–	1.57%	25
2023 Q4	$85.8M	Hold	5,257,000	–	–	1.91%	23
2023 Q3	$76.1M	Buy	5,257,000 +1,369,000	+35%	+$21.4M	2.12%	21
2023 Q2	$56.7M	Hold	3,888,000	–	–	2.07%	22
2023 Q1	$70.8M	Hold	3,888,000	–	–	3.32%	13
2022 Q4	$63.5M	Hold	3,888,000	–	–	3.42%	13
2022 Q3	$61.7M	Hold	3,888,000	–	–	4.02%	10
2022 Q2	$76.5M	Hold	3,888,000	–	–	4.78%	5
2022 Q1	$106M	Buy	3,888,000 +440,000	+13%	+$10.8M	5.44%	4
2021 Q4	$86.1M	Hold	3,448,000	–	–	4.51%	11
2021 Q3	$80.2M	Hold	3,448,000	–	–	3.66%	12
2021 Q2	$98.5M	Hold	3,448,000	–	–	5.5%	9
2021 Q1	$104M	Hold	3,448,000	–	–	6.72%	6
2020 Q4	$119M	Sell	3,448,000 -712,000	-17%	-$23M	6.45%	9
2020 Q3	$134M	Hold	4,160,000	–	–	7.62%	7
2020 Q2	$126M	Sell	4,160,000 -270,000	-6%	-$6.4M	7.47%	6
2020 Q1	$63.5M	Buy	4,430,000 +830,000	+23%	+$17.2M	4.91%	10
2019 Q4	$85.3M	Hold	3,600,000	–	–	4.64%	11
2019 Q3	$56.4M	Buy	3,600,000 +1,540,000	+75%	+$24.9M	3.79%	10
2019 Q2	$26.6M	Hold	2,060,000	–	–	1.64%	15
2019 Q1	$27.3M	Buy	2,060,000 +1,791,000	+666%	+$25.1M	2.22%	12
2018 Q4	$3.93M	Buy	269,000 +147,000	+120%	+$2.1M	0.45%	15
2018 Q3	$1.8M	Buy	+122,000	New	+$1.95M	0.24%	17