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Pan American Silver
PAAS

163 hedge funds and large institutions have $710M invested in Pan American Silver in 2013 Q4 according to their latest regulatory filings, with 35 funds opening new positions, 45 increasing their positions, 59 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

133% more funds holding in top 10

Funds holding in top 10: 3 → 7 (+4)

57% more call options, than puts

Call options by funds: $31.8M | Put options by funds: $20.2M

35% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 26

6% more capital invested

Capital invested by funds: $671M → $710M (+$39.3M)

5% more funds holding

Funds holding: 155 → 163 (+8)

24% less repeat investments, than reductions

Existing positions increased: 45 | Existing positions reduced: 59

Holders
163
Holders Change
+8
Holders Change %
+5.16%
% of All Funds
4.73%
Holding in Top 10
7
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+133.33%
% of All Funds
0.2%
New
35
Increased
45
Reduced
59
Closed
26
Calls
$31.8M
Puts
$20.2M
Net Calls
+$11.5M
Net Calls Change
+$8.97M

Top Buyers

1
DSC
Donald Smith & Co
New York
+$15.5M
2
RRAM
River Road Asset Management
Kentucky
+$8.98M
3
CS
Credit Suisse
Switzerland
+$7.65M
4
RA
Royce & Associates
New York
+$6.07M
5
Ameriprise
Ameriprise
Minnesota
+$4.99M

Top Sellers

1
TAM
Tocqueville Asset Management
New York
-$34.1M
2
CC
Carlson Capital
Texas
-$10.6M
3
Morgan Stanley
Morgan Stanley
New York
-$7.09M
4
Renaissance Technologies
Renaissance Technologies
New York
-$6.33M
5
VanEck Associates
VanEck Associates
New York
-$5.05M
Name Holding Trade Value Shares
Change 		Change in
Stake
Envestnet Asset Management
151
Envestnet Asset Management
Illinois
$5K – – –
TCM
152
Tradewinds Capital Management
Washington
$5K +$4.37K +410 New
WA
153
WFG Advisors
Texas
$4K +$3.2K +300 New
MAM
154
Meeder Asset Management
Ohio
$3K – – –
GI
155
Gradient Investments
Minnesota
$2K +$2.11K +198 New
Northwestern Mutual Wealth Management
156
Northwestern Mutual Wealth Management
Wisconsin
$1K -$7.42K -696 -87%
DAM
157
Delta Asset Management
Tennessee
$1K – – –
LIA
158
LS Investment Advisors
Michigan
$1K – – –
OIA
159
Optimum Investment Advisors
Illinois
$1K – – –
PTC
160
Private Trust Company
Ohio
$1K – – –
WEC
161
Winslow Evans & Crocker
Massachusetts
$1K +$1.07K +100 New
Manulife (Manufacturers Life Insurance)
162
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$462 -$4.81K -451 -1%
TAM
163
Tocqueville Asset Management
New York
– -$34.1M -3,236,598 Closed
CC
164
Carlson Capital
Texas
– -$10.6M -1,002,500 Closed
Millennium Management
165
Millennium Management
New York
– -$1.58M -149,434 Closed
USGIU
166
U.S. Global Investors (USGI)
Texas
– -$1.05M -100,000 Closed
DCM
167
Dynamic Capital Management
Jersey
– -$783K -74,196 Closed
Connor, Clark & Lunn Investment Management (CC&L)
168
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
– -$795K -73,100 Closed
HT
169
HAP Trading
New York
– -$772K -72,383 Closed
HCM
170
Highbridge Capital Management
New York
– -$333K -31,600 Closed
AL
171
Airain Ltd
Guernsey
– -$295K -27,929 Closed
SCA
172
SAC Capital Advisors
Connecticut
– -$289K -27,363 Closed
SIM
173
Spark Investment Management
New York
– -$263K -25,000 Closed
BG
174
BlackRock Group
United Kingdom
– -$192K -18,241 Closed
FAAS
175
First Allied Advisory Services
California
– -$179K -17,000 Closed
4 5 6
7
8

PAAS Hedge Fund Activity: Q4 2013 in Review

163 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Pan American Silver (PAAS) for Q4 2013, worth a combined $710M — up 5.9% from $671M a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new PAAS positions and 26 closed out — a net gain of 9 holders — while 45 added to existing stakes and 59 trimmed.

The largest buyer was Donald Smith & Co, opening a new position worth an estimated $15.5M. The largest seller was Tocqueville Asset Management, exiting entirely with an estimated $34.1M sold.

  • 163 institutional investors held Pan American Silver (PAAS) as of Q4 2013, up from 155 in Q3 2013.
  • Funds reported $710M of Pan American Silver stock for Q4 2013, up 5.9% quarter-over-quarter.
  • 35 funds opened new Pan American Silver positions in Q4 2013 and 26 closed out, a net change of +9 holders.
  • The largest Pan American Silver buyer in Q4 2013 was Donald Smith & Co, an estimated $15.5M added.
  • The largest Pan American Silver seller in Q4 2013 was Tocqueville Asset Management, an estimated $34.1M sold.

Based on aggregated 13F filings for Q4 2013.