Americas Gold and Silver
USAS
119 hedge funds and large institutions have $413M invested in Americas Gold and Silver in 2025 Q4 according to their latest regulatory filings, with 50 funds opening new positions, 34 increasing their positions, 24 reducing their positions, and 6 closing their positions.
733% more first-time investments, than exits
New positions opened: 50 | Existing positions closed: 6
598% more call options, than puts
Call options by funds: $3.36M | Put options by funds: $482K
55% more funds holding
Funds holding: 77 → 119 (+42)
42% more repeat investments, than reductions
Existing positions increased: 34 | Existing positions reduced: 24
40% more capital invested
Capital invested by funds: $296M → $413M (+$118M)
3.65% less ownership
Funds ownership: 29.05% → 25.4% (-3.6%)
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
+$11.8M |
| 2 |
Mirae Asset Global ETFs Holdings
Causeway Bay,
Hong Kong
|
+$11.5M |
| 3 |
Connor, Clark & Lunn Investment Management (CC&L)
Vancouver,
British Columbia, Canada
|
+$11.2M |
| 4 |
AA
ALPS Advisors
Denver,
Colorado
|
+$10.2M |
| 5 |
USGIU
U.S. Global Investors (USGI)
San Antonio,
Texas
|
+$5.49M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NAM
NewGen Asset Management
Toronto,
Ontario, Canada
|
-$13.9M |
| 2 |
MI
Merk Investments
Menlo Park,
California
|
-$10.1M |
| 3 |
MBI
Montrusco Bolton Investments
Montreal,
Quebec, Canada
|
-$9.95M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
-$2.27M |
| 5 |
JP Morgan Chase
New York
|
-$1.87M |
USAS Hedge Fund Activity: Q4 2025 in Review
119 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in Americas Gold and Silver (USAS) for Q4 2025, worth a combined $413M — up 40% from $296M a quarter earlier.
Buyers outnumbered sellers: 50 funds opened new USAS positions and 6 closed out — a net gain of 44 holders — while 34 added to existing stakes and 24 trimmed.
The largest buyer was Polar Asset Management Partners, opening a new position worth an estimated $11.8M. The largest seller was NewGen Asset Management, cutting an estimated $13.9M.
- 119 institutional investors held Americas Gold and Silver (USAS) as of Q4 2025, up from 77 in Q3 2025.
- Funds reported $413M of Americas Gold and Silver stock for Q4 2025, up 40% quarter-over-quarter.
- 50 funds opened new Americas Gold and Silver positions in Q4 2025 and 6 closed out, a net change of +44 holders.
- The largest Americas Gold and Silver buyer in Q4 2025 was Polar Asset Management Partners, an estimated $11.8M added.
- The largest Americas Gold and Silver seller in Q4 2025 was NewGen Asset Management, an estimated $13.9M sold.
Based on aggregated 13F filings for Q4 2025.