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Caledonia Mining Corp
CMCL

143 hedge funds and large institutions have $194M invested in Caledonia Mining Corp in 2025 Q4 according to their latest regulatory filings, with 29 funds opening new positions, 53 increasing their positions, 40 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

45% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 20

33% more repeat investments, than reductions

Existing positions increased: 53 | Existing positions reduced: 40

6% more funds holding

Funds holding: 135 → 143 (+8)

3.53% more ownership

Funds ownership: 34.93% → 38.46% (+3.5%)

12% less call options, than puts

Call options by funds: $987K | Put options by funds: $1.12M

20% less capital invested

Capital invested by funds: $243M → $194M (-$49.4M)

Holders
143
Holders Change
+8
Holders Change %
+5.93%
% of All Funds
1.74%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
29
Increased
53
Reduced
40
Closed
20
Calls
$987K
Puts
$1.12M
Net Calls
-$133K
Net Calls Change
-$20K

Top Buyers

Rank Fund Capital Flow
1
USGIU
U.S. Global Investors (USGI)
Texas
+$3.43M
2
NIG
NFJ Investment Group
Texas
+$3.32M
3
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
+$2.94M
4
Jane Street
Jane Street
New York
+$2.9M
5
Tudor Investment Corp
Tudor Investment Corp
Connecticut
+$2.82M

Top Sellers

Rank Fund Capital Flow
1
OAG
Orbis Allan Gray
Bermuda
-$12.7M
2
Marshall Wace
Marshall Wace
United Kingdom
-$4.21M
3
GRA
Goehring & Rozencwajg Associates
New York
-$2.02M
4
EI
EAM Investors
California
-$1.1M
5
Rockefeller Capital Management
Rockefeller Capital Management
New York
-$1.07M
Name Holding Trade Value Shares
Change 		Change in
Stake
Northern Trust
26
Northern Trust
Illinois
$2.13M -$379K -12,906 -14%
OSAM
27
O'Shaughnessy Asset Management
Connecticut
$2.05M +$345K +11,732 +18%
Los Angeles Capital Management
28
Los Angeles Capital Management
California
$1.92M -$573K -19,499 -23%
MAM
29
Martingale Asset Management
Massachusetts
$1.77M -$82.9K -2,821 -4%
Bank of America
30
Bank of America
North Carolina
$1.6M +$1.49M +50,692 +484%
RWM
31
Ritholtz Wealth Management
New York
$1.44M +$444K +15,090 +38%
N
32
Nuveen
North Carolina
$1.43M -$207K -7,040 -11%
NA
33
Navellier & Associates
Nevada
$1.33M -$162K -5,524 -10%
Barclays
34
Barclays
United Kingdom
$1.32M +$387K +13,178 +35%
TI
35
TrueMark Investments
Illinois
$1.24M +$1.4M +47,531 New
GCP
36
GSA Capital Partners
United Kingdom
$1.24M +$95.5K +3,248 +7%
Ameriprise
37
Ameriprise
Minnesota
$1.17M -$90.4K -3,075 -6%
Citadel Advisors
38
Citadel Advisors
Florida
$1.12M +$571K +19,408 +83%
PAM
39
Panagora Asset Management
Massachusetts
$1.09M – – –
Susquehanna International Group
40
Susquehanna International Group
Pennsylvania
$1.01M +$629K +21,396 +125%
QCM
41
Quantinno Capital Management
New York
$1.01M +$313K +10,662 +38%
Mackenzie Financial
42
Mackenzie Financial
Ontario, Canada
$999K +$296K +10,074 +37%
Bank of New York Mellon
43
Bank of New York Mellon
New York
$994K -$38.1K -1,295 -3%
JF
44
Jump Financial
Illinois
$944K +$455K +15,458 +75%
Verition Fund Management
45
Verition Fund Management
Connecticut
$909K +$716K +24,341 +234%
RhumbLine Advisers
46
RhumbLine Advisers
Massachusetts
$880K -$126K -4,294 -11%
Qube Research & Technologies (QRT)
47
Qube Research & Technologies (QRT)
United Kingdom
$879K +$987K +33,570 New
WG
48
Winton Group
United Kingdom
$844K +$97.4K +3,314 +11%
AQR Capital Management
49
AQR Capital Management
Connecticut
$801K +$405K +13,789 +82%
Point72 Asset Management
50
Point72 Asset Management
Connecticut
$768K +$863K +29,357 New
1
2
3 4 5

CMCL Hedge Fund Activity: Q4 2025 in Review

143 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Caledonia Mining Corp (CMCL) for Q4 2025, worth a combined $194M — down 20% from $243M a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new CMCL positions and 20 closed out — a net gain of 9 holders — while 53 added to existing stakes and 40 trimmed.

The largest buyer was U.S. Global Investors (USGI), adding an estimated $3.43M. The largest seller was Orbis Allan Gray, cutting an estimated $12.7M.

  • 143 institutional investors held Caledonia Mining Corp (CMCL) as of Q4 2025, up from 135 in Q3 2025.
  • Funds reported $194M of Caledonia Mining Corp stock for Q4 2025, down 20% quarter-over-quarter.
  • 29 funds opened new Caledonia Mining Corp positions in Q4 2025 and 20 closed out, a net change of +9 holders.
  • The largest Caledonia Mining Corp buyer in Q4 2025 was U.S. Global Investors (USGI), an estimated $3.43M added.
  • The largest Caledonia Mining Corp seller in Q4 2025 was Orbis Allan Gray, an estimated $12.7M sold.

Based on aggregated 13F filings for Q4 2025.