Pan American Silver
PAAS
487 hedge funds and large institutions have $9.06B invested in Pan American Silver in 2025 Q3 according to their latest regulatory filings, with 122 funds opening new positions, 189 increasing their positions, 116 reducing their positions, and 47 closing their positions.
160% more first-time investments, than exits
New positions opened: 122 | Existing positions closed: 47
63% more repeat investments, than reductions
Existing positions increased: 189 | Existing positions reduced: 116
58% more capital invested
Capital invested by funds: $5.74B → $9.06B (+$3.32B)
36% more call options, than puts
Call options by funds: $405M | Put options by funds: $299M
20% more funds holding in top 10
Funds holding in top 10: 10 → 12 (+2)
18% more funds holding
Funds holding: 412 → 487 (+75)
3.76% more ownership
Funds ownership: 55.83% → 59.59% (+3.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FSC
Fourth Sail Capital
Camana Bay Grand Cayman,
Cayman Islands
|
+$576M |
| 2 |
VanEck Associates
New York
|
+$495M |
| 3 |
First Eagle Investment Management
New York
|
+$148M |
| 4 |
Mirae Asset Global ETFs Holdings
Causeway Bay,
Hong Kong
|
+$130M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$96.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity International
Hamilton,
Bermuda
|
-$65M |
| 2 |
SPC
Slate Path Capital
New York
|
-$48.9M |
| 3 |
Renaissance Technologies
New York
|
-$48.2M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$47.2M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$46M |
PAAS Hedge Fund Activity: Q3 2025 in Review
487 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Pan American Silver (PAAS) for Q3 2025, worth a combined $9.06B — up 58% from $5.74B a quarter earlier.
Buyers outnumbered sellers: 122 funds opened new PAAS positions and 47 closed out — a net gain of 75 holders — while 189 added to existing stakes and 116 trimmed.
The largest buyer was Fourth Sail Capital, opening a new position worth an estimated $576M. The largest seller was Fidelity International, cutting an estimated $65M.
- 487 institutional investors held Pan American Silver (PAAS) as of Q3 2025, up from 412 in Q2 2025.
- Funds reported $9.06B of Pan American Silver stock for Q3 2025, up 58% quarter-over-quarter.
- 122 funds opened new Pan American Silver positions in Q3 2025 and 47 closed out, a net change of +75 holders.
- The largest Pan American Silver buyer in Q3 2025 was Fourth Sail Capital, an estimated $576M added.
- The largest Pan American Silver seller in Q3 2025 was Fidelity International, an estimated $65M sold.
Based on aggregated 13F filings for Q3 2025.