Fortuna Mining

FSM • NYSE

Fortuna Mining is a silver company in the basic materials sector on NYSE, led by Jorge Ganoza Durant, with a market cap of $3.0B. As of Q3 2025, 67% of shares are held by 206 institutional investors, with VAN ECK ASSOCIATES CORP as the largest holder at 9.54%.

CEOJorge Ganoza Durant

Market Cap$3.0B

Silver

Basic Materials

Employees2.5K

Websitefortunamining.com

Overview

Overview of institutional ownership in FSM as of Q3 2025 with a market cap of $2.8B

All Institutions

Institutions: 206
Value Held: $1.8B
Shares Held: 204.1M
Avg Position: $8.9M
Median Position: $512.4K

Hedge Funds

Hedge Funds: 32
Value Held: $354.9M
Shares Held: 39.6M
Avg Position: $11.1M
Median Position: $945.6K

Ownership Breakdown

Institutional (non-HF)

53.71%

$1.5B

Hedge Funds

12.9%

$354.9M

Retail & Other

33.39%

$918.3M

Based on market cap of $2.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in FSM as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VAN ECK ASSOCIATES CORP ETF Provider	Jan Frederick Vaneck CEO	$262.4M 0.27% of portfolio	9.54% 29.3M shares	≤ Q2 2013 Held for 12y 5m+	$96.6B
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$174.9M 0.11% of portfolio	6.36% 19.5M shares	Q4 2023 Held for 1y 11m	$158.92B
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	-	$122.7M 0.20% of portfolio	4.47% 13.7M shares	Q2 2024 Held for 1y 5m	$61.8B
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	Gillian Morna Therese Savage CEO	$104.6M 0.20% of portfolio	3.80% 11.7M shares	Q1 2024 Held for 1y 8m	$51.5B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$83.4M 0.02% of portfolio	3.03% 9.3M shares	Q3 2019 Held for 6y 2m	$466.32B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$82.0M 0.00% of portfolio	2.98% 9.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
Toroso Investments, LLC ETF Provider	Guillermo Trias CEO	$80.2M 0.35% of portfolio	2.91% 8.9M shares	Q2 2022 Held for 3y 5m	$23.2B
A AMERICAN CENTURY COMPANIES INC Institution	-	$71.9M 0.04% of portfolio	2.62% 8.0M shares	Q1 2018 Held for 7y 8m	$195.93B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$65.6M 0.01% of portfolio	2.38% 7.3M shares	≤ Q2 2013 Held for 12y 5m+	$691.34B
D D. E. Shaw & Co., Inc. Institution	-	$56.2M 0.05% of portfolio	2.04% 6.3M shares	Q4 2022 Held for 2y 11m	$115.81B

Net Capital Flow

Institutional buying and selling activity for FSM in Q3 2025

Traded: +$179.9M
Buyers: 116
Sellers: 91
Total Bought: +$454.0M
Total Sold: −$274.1M
Avg Position: $7.7M

Biggest Buyers

Institution	Net Bought	Current Position
VAN ECK ASSOCIATES CORP ETF Provider	+$79.6M +8.9M shares	$262.4M 29.3M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$78.0M +8.7M shares	$174.9M 19.5M shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$41.7M +4.7M shares	$104.6M 11.7M shares
VANGUARD GROUP INC Institution	+$38.5M +4.3M shares	$40.8M 4.6M shares
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	+$33.8M +3.8M shares	$122.7M 13.7M shares
Invesco Ltd. ETF Provider	+$25.7M +2.9M shares	$27.9M 3.1M shares
TORONTO DOMINION BANK Institution	+$20.7M +2.3M shares	$24.3M 2.7M shares
Toroso Investments, LLC ETF Provider	+$19.2M +2.1M shares	$80.2M 8.9M shares
A AMERICAN CENTURY COMPANIES INC Institution	+$14.9M +1.7M shares	$71.9M 8.0M shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	+$13.8M +1.5M shares	$14.4M 1.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$39.6M −4.4M shares	$19.9M 2.2M shares
MORGAN STANLEY RIA/Wealth	−$34.2M −3.8M shares	$82.0M 9.1M shares
J JANE STREET GROUP, LLC Institution	−$20.9M −2.3M shares	$4.5M 501.5K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$18.4M −2.1M shares	$16.8M 1.9M shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	−$16.1M −1.8M shares	$23.7M 2.7M shares
Q Qube Research & Technologies Ltd Institution	−$13.2M −1.5M shares	$1.3M 148.6K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$13.0M −1.5M shares	$18.7M 2.1M shares
GOLDMAN SACHS GROUP INC Institution	−$11.7M −1.3M shares	$65.6M 7.3M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$11.6M −1.3M shares	$37.0M 4.1M shares
JPMORGAN CHASE & CO Institution	−$10.5M −1.2M shares	$4.3M 475.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FSM in Q3 2025

New Positions: 21
New Value: $5.8M
Exited Positions: 32
Exited Value: $23.4M

New Positions

Institution	Position Value
Sheets Smith Investment Management RIA/Wealth	$1.5M 166.1K shares
CAUSEWAY CAPITAL MANAGEMENT LLC Long Only Manager	$1.0M 115.9K shares
ABBINGTON INVESTMENT GROUP RIA/Wealth	$894.5K 99.8K shares
SHEETS SMITH WEALTH MANAGEMENT RIA/Wealth	$618.4K 69.0K shares
I IPG Investment Advisors LLC RIA/Wealth	$273.3K 30.5K shares
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$269.3K 30.1K shares
P PharVision Advisers, LLC Hedge Fund•Long/Short	$226.8K 25.3K shares
SILVER OAK SECURITIES, Inc RIA/Wealth	$223.2K 24.9K shares
B Brevan Howard Capital Management LP Institution	$179.2K 20.0K shares
C Crabel Capital Management, LLC Institution	$179.2K 20.0K shares

Exited Positions

Institution	Previous Position
U U S GLOBAL INVESTORS INC Institution	$3.6M 553.1K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$3.6M 546.5K shares
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	$2.3M 350.6K shares
J Jump Financial, LLC Institution	$1.8M 279.3K shares
SUSQUEHANNA ADVISORS GROUP, INC. Private Equity	$1.8M 277.1K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$1.6M 241.2K shares
V Virtu Financial LLC Institution	$1.4M 216.0K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$1.3M 194.7K shares
P Point72 Asia Pte. Ltd. Institution	$1.1M 170.9K shares
C Capula Management Ltd Institution	$1.1M 123.2K shares

Options Activity

Institutions with the largest Call and Put options positions in FSM as of Q3 2025

Call Positions: 12
Call Value: $36.7M
Put Positions: 11
Put Value: $15.0M

Call Positions

Institution	Position Value
P PEAK6 LLC Institution	$14.1M 15.7K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$11.0M 12.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.9M 4.4K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$3.6M 4.0K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.8M 2.0K contracts
D D. E. Shaw & Co., Inc. Institution	$916.6K 1.0K contracts
S SIG North Trading, ULC Institution	$750.8K 838.0 contracts
Walleye Trading LLC RIA/Wealth	$276.9K 309.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$220.4K 246.0 contracts
J JANE STREET GROUP, LLC Institution	$191.7K 214.0 contracts

Put Positions

Institution	Position Value
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$4.7M 5.3K contracts
UBS Group AG Institution	$2.7M 3.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.4M 2.6K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.1M 2.4K contracts
S SIG North Trading, ULC Institution	$1.2M 1.3K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$900.5K 1.0K contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$536.7K 599.0 contracts
J JANE STREET GROUP, LLC Institution	$372.7K 416.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$101.2K 113.0 contracts
TORONTO DOMINION BANK Institution	$42.1K 47.0 contracts

Most Committed Institutions

Institutions with FSM as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Euro Pacific Asset Management, LLC Long Only Manager	James Ryan Nelson Managing Partner	5.92% $39.7M	1.44% 4.4M shares	Q4 2019 Held for 5y 11m	$670.2M
T Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Institution	-	2.82% $1.1M	0.04% 127.6K shares	Q1 2024 Held for 1y 8m	$40.5M
Sicart Associates LLC Family Office	Yibo (Nmn) Huang President	1.54% $5.7M	0.21% 636.2K shares	Q4 2017 Held for 7y 11m	$369.1M
PCJ Investment Counsel Ltd. Long Only Manager	Timothy Michael Marzec President	0.98% $3.5M	0.13% 391.7K shares	Q2 2024 Held for 1y 5m	$359.5M
Sheets Smith Investment Management RIA/Wealth	Zolly Cornell Bowden President	0.97% $1.5M	0.05% 166.1K shares	Q3 2025 Held for 2 months	$154.2M
ABBINGTON INVESTMENT GROUP RIA/Wealth	Grace Yuan Mei Toh Founder	0.77% $894.5K	0.03% 99.8K shares	Q3 2025 Held for 2 months	$116.8M
Hillsdale Investment Management Inc. Long Only Manager	Albert Christopher Guthrie CEO	0.74% $24.8M	0.90% 2.8M shares	Q2 2024 Held for 1y 5m	$3.3B
KLEIN PAVLIS & PEASLEY FINANCIAL, INC. RIA/Wealth	Justin Alan Klein CEO	0.70% $1.1M	0.04% 127.9K shares	Q4 2023 Held for 1y 11m	$162.9M
K Keebeck Alpha, LP Hedge Fund	Thong Huy Nguyen CIO	0.57% $409.9K	0.01% 45.7K shares	Q3 2025 Held for 2 months	$71.9M
Toroso Investments, LLC ETF Provider	Guillermo Trias CEO	0.35% $80.2M	2.91% 8.9M shares	Q2 2022 Held for 3y 5m	$23.2B

Hedge Fund Spotlight

Discover hedge funds investing in FSM

ARROWSTREET CAPITAL LIMITED PARTNERSHIP

Hedge Fund • Quant

Portfolio ManagerAnthony Ryan

Portfolio Value: $158.92B
Positions: 1,827
Last Reported: Q3 2025

Sector Allocation

Position in Fortuna Mining

Market Value: $174.9M
Shares Held: 19.5M
Portfolio Weight: 0.11%
Owned Since: 2023-Q4

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