Which funds own PAAS
Pan Amern Silver Corp in the Q2 2026 filings. At least 4 of the 91 current managers on file reported a position, worth $317m between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went the other way: 6 managers trimmed or sold out against 2 buying.
- Managers holding
- 4
- at least, of 91 current
- Combined value
- $317m
- as reported
- Opened
- 0
- new this quarter
- Added to
- 2
- already held
- Trimmed or sold out
- 6
- 5 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| First Eagle Investment Management LLC Activist · $60.8bn book | $108m | 0.2% | 2,417,389 | -$24m0 | Held |
| Man Group PLC Quantitative · $62.7bn book | $107m | 0.2% | 2,380,804 | +$36m+1,086,896 | Added |
| Renaissance Technologies LLC Quantitative · $72.6bn book | $101m | 0.1% | 2,261,697 | +$30m+959,471 | Added |
| Maverick Capital Ltd Long/short equity · $11.3bn book | $800k | 0.0% | 18,255 | -$1.0m-14,660 | Trimmed |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Arrowstreet Capital LP · Quantitative$184m held before
- Marshall Wace LLP · Quantitative$83m held before
- T. Rowe Price Associates Inc · Long-only$10m held before
- ExodusPoint Capital Management LP · Multi-strategy$9.0m held before
- Brevan Howard Capital Management LP · Macro$4.6m held before
Ownership through time
At least 11 of the 95 managers whose filings are on file listed PAAS in Q2 2026, against 3 in Q3 2013. 3 managers fewer than in Q1 2026: 3 listed it again; 2 sold out, by their own filings; 4 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q3 2013: 3
- Q4 2013: 2
- Q1 2014: 4
- Q2 2014: 3
- Q3 2014: 2
- Q4 2014: 3
- Q1 2015: 1
- Q2 2015: 1
- Q3 2015: 2
- Q4 2015: 1
- Q1 2016: 2
- Q2 2016: 4
- Q3 2016: 4
- Q4 2016: 5
- Q1 2017: 2
- Q2 2017: 1
- Q3 2017: 1
- Q4 2017: 2
- Q1 2018: 1
- Q2 2018: 1
- Q3 2018: 2
- Q4 2018: 1
- Q1 2019: 3
- Q2 2019: 3
- Q3 2019: 4
- Q4 2019: 3
- Q1 2020: 4
- Q2 2020: 4
- Q3 2020: 3
- Q4 2020: 3
- Q1 2021: 2
- Q2 2021: 2
- Q3 2021: 2
- Q4 2021: 1
- Q1 2022: 3
- Q2 2022: 1
- Q3 2022: 2
- Q4 2022: 4
- Q1 2023: 4
- Q2 2023: 3
- Q3 2023: 1
- Q1 2024: 1
- Q2 2024: 1
- Q4 2024: 2
- Q1 2025: 1
- Q2 2025: 6
- Q3 2025: 9
- Q4 2025: 9
- Q1 2026: 14
- Q2 2026: 11
- Q3 2013: $551k
- Q4 2013: $1.6m
- Q1 2014: $11m
- Q2 2014: $14m
- Q3 2014: $4.0m
- Q4 2014: $22m
- Q1 2015: $408k
- Q2 2015: $29m
- Q3 2015: $30m
- Q4 2015: $34m
- Q1 2016: $78m
- Q2 2016: $104m
- Q3 2016: $92m
- Q4 2016: $59m
- Q1 2017: $57m
- Q2 2017: $46m
- Q3 2017: $64m
- Q4 2017: $125m
- Q1 2018: $71m
- Q2 2018: $87m
- Q3 2018: $86m
- Q4 2018: $102m
- Q1 2019: $114m
- Q2 2019: $118m
- Q3 2019: $163m
- Q4 2019: $154m
- Q1 2020: $114m
- Q2 2020: $279m
- Q3 2020: $228m
- Q4 2020: $121m
- Q1 2021: $3.7m
- Q2 2021: $9.1m
- Q3 2021: $35m
- Q4 2021: $112k
- Q1 2022: $76m
- Q2 2022: $58m
- Q3 2022: $51m
- Q4 2022: $126m
- Q1 2023: $95m
- Q2 2023: $86m
- Q3 2023: $23m
- Q1 2024: $1.9m
- Q2 2024: $792k
- Q4 2024: $49m
- Q1 2025: $700k
- Q2 2025: $332m
- Q3 2025: $995m
- Q4 2025: $901m
- Q1 2026: $1.2bn
- Q2 2026: $751m
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
No manager on file started a position.
Largest increases, by shares
- Two Sigma Investments LP1,558,737 to 2,877,110 shares+$59m
- Man Group PLC1,293,908 to 2,380,804 shares+$49m
- Renaissance Technologies LLC1,302,226 to 2,261,697 shares+$43m
- Millennium Management LLC3,600,694 to 3,816,589 shares+$9.7m
- Bridgewater Associates LP151,463 to 277,592 shares+$5.6m
Largest decreases, by shares
- Point72 Asset Management LP1,418,267 to 1,046,541 shares-$17m
- Maverick Capital Ltd32,915 to 18,255 shares-$657k
Left it
- Arrowstreet Capital LPwas $184m
- Marshall Wace LLPwas $43m
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Millennium Management LLC | Q4 2017 | $197m | $171m | |
| Two Sigma Investments LP | Q1 2019 | $129m | $129m | |
| First Eagle Investment Management LLC | Q3 2025 | $181m | $108m | |
| Man Group PLC | Q2 2023 | $107m | $107m | |
| Renaissance Technologies LLC | Q4 2014 | $158m | $101m | |
| Balyasny Asset Management LLC | Q1 2022 | $49m | $49m | |
| Point72 Asset Management LP | Q1 2026 | $77m | $47m | |
| Acadian Asset Management LLC | Q2 2016 | $22m | $22m | |
| Bridgewater Associates LP | Q3 2013 | $12m | $12m | |
| Quantbot Technologies LP | Q3 2013 | $2.5m | $2.5m | |
| Maverick Capital Ltd | Q1 2025 | $1.8m | $818k | |
| Invesco Ltd | Q3 2025 | $383m | last listed Q4 2025 | |
| Jane Street Group LLC | Q1 2026 | $348m | last listed Q1 2026 | |
| Arrowstreet Capital LP | Q2 2020 | $237m | last listed Q1 2026 | |
| Marshall Wace LLP | Q3 2016 | $43m | last listed Q1 2026 | |
| Two Sigma Advisers LP | Q4 2022 | $31m | last listed Q4 2025 | |
| Rokos Capital Management LLP | Q4 2025 | $30m | last listed Q4 2025 | |
| Voloridge Investment Management LLC | Q4 2014 | $18m | last listed Q1 2023 | |
| Soros Fund Management LLC | Q1 2014 | $12m | last listed Q3 2014 | |
| ExodusPoint Capital Management LP | Q3 2019 | $9.0m | last listed Q1 2026 | |
| Schonfeld Strategic Advisors LLC | Q2 2016 | $8.8m | last listed Q1 2026 |
What PAAS is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around PAAS →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
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