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Pan American Silver (PAAS): which funds own it

Materials →(by SIC code, unreviewed)Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

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Sections with a free account

3 concentrated managers hold it (−2 vs last quarter) with a median weight of 2.0%.

Who owns Pan American Silver?

Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: BlackRock (13G/A filed Oct 27, 2026) and VAN ECK Associates (13G/A filed May 15, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were VAN ECK Associates (19.1 million shares), Mirae Asset Global Etfs Holdings (15.6 million shares) and Vanguard Capital Management (11.5 million shares).

Which institutions hold the most Pan American Silver shares?

Per Form 13F filings as of Jun 30, 2026:

  1. 1. VAN ECK Associates: 19.1 million shares
  2. 2. Mirae Asset Global Etfs Holdings: 15.6 million shares
  3. 3. Vanguard Capital Management: 11.5 million shares
  4. 4. BlackRock: 8.4 million shares
  5. 5. Capital International Investors: 6.2 million shares
  6. 6. Norges Bank: 5.6 million shares
  7. 7. Geode Capital Management: 4.9 million shares
  8. 8. Morgan Stanley: 4.8 million shares
  9. 9. Bank of Montreal: 4.2 million shares
  10. 10. Millennium Management: 3.8 million shares

Sources:13G/A by BlackRock (Oct 27, 2026) ↗13G/A by VAN ECK Associates (May 15, 2026) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

Pan American Silver revenue

Pan American Silver reported annual revenue of $3.62 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 40-F filed with the SEC (XBRL data).

Concentrated managers
3
All 13F: 588
Consensus
—
No score: it needs 5 or more concentrated managers
Price at Jun 30, 2026 (per 13F)
$44.79
-18.0% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (5 → 3): 0 opened · 2 exited = −2

Net flow in the quarter: −$84.4M (−1.9 M shares) · bought $0 and sold $84.4MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

The set of concentrated managers changed between quarters: with the set as it was then, 6 held it last quarter (the chart point); with today's set, 5 (the base for the change).

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Other relevant holders

Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.

Largest holders of PAAS (all 13F filers)

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

Fiscal 2025 figures (annual report on Form 40-F, IFRS accounting standards) · balance sheet as of Dec 31, 2025.

Profitability
Operating margin
34.1%
Net margin
27.0%
ROE
14.0%
Growth
Revenue (TTM)
$3.6 bn
Revenue growth
28.4%
Net income (TTM)
$978M
Balance sheet
Net debt / EBITDA
−0.3x
Free cash flow (TTM)
$1.0 bn
Quality vs sector
—

Figures come from the latest annual report: we do not compare them with its sector's, which are 12-month figures to the latest quarter. Debt includes leases: under IFRS 16 they are all on the balance sheet and their cost sits outside EBITDA.

This company's sector comes from its SIC code, unreviewed, or has too few comparable companies: we do not compare it with its sector.

Figures from the statements the company filed with the SEC (40-F). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Shares outstanding: buybacks and dilution

Diluted shares by fiscal year (split-adjusted)

2025: 381.6 M

381.6 M0
20172025
1 year
+5.0%
3 years
+81.3%
5 years
+81.4%
Buybacks (FY 2025)
$46.0M
Share issuance
$3.0M
Stock-based compensation
$2.0M0.1% of revenue
Dividends paid
$175M

From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.

Earnings quality and debt

Operating cash flow ÷ net income (12 months)
1.36
Interest coverage (operating income ÷ interest)
22.4 timesfiscal 2025
Debt due within 12 months
$58.0M0.04 times cash and investments

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
no data
Amount (6 m)
no data
CEO/CFO bought (12 m)
No

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market. See its filings on EDGAR ↗

Other Materials stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Materials →

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