Triple Flag Precious Metals

TFPM • NYSE

Triple Flag Precious Metals is a other precious metals company in the basic materials sector on NYSE, led by Shaun Usmar, with a market cap of $7.2B. As of Q3 2025, 85% of shares are held by 205 institutional investors, with Elliott Investment Management L.P. as the largest holder at 64.8%.

CEOShaun Usmar

Market Cap$7.2B

Other Precious Metals

Basic Materials

Employees19.0

Websitetripleflagpm.com

Overview

Overview of institutional ownership in TFPM as of Q3 2025 with a market cap of $6.0B

All Institutions

Institutions: 205
Value Held: $5.1B
Shares Held: 175.8M
Avg Position: $25.1M
Median Position: $602.8K

Hedge Funds

Hedge Funds: 27
Value Held: $4.1B
Shares Held: 140.4M
Avg Position: $152.2M
Median Position: $1.5M

Ownership Breakdown

Institutional (non-HF)

17.18%

$1.0B

Hedge Funds

68.01%

$4.1B

Retail & Other

14.81%

$894.9M

Based on market cap of $6.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TFPM as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	Jonathan D Pollock CEO	$3.9B 28.72% of portfolio	64.80% 133.8M shares	Q3 2022 Held for 3y 2m	$13.6B
FMR LLC Institution	-	$212.6M 0.01% of portfolio	3.52% 7.3M shares	Q3 2022 Held for 3y 2m	$1.92T
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	-	$77.4M 0.13% of portfolio	1.28% 2.6M shares	Q2 2024 Held for 1y 5m	$61.8B
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$76.9M 0.05% of portfolio	1.27% 2.6M shares	Q2 2024 Held for 1y 5m	$158.92B
VAN ECK ASSOCIATES CORP ETF Provider	Jan Frederick Vaneck CEO	$74.8M 0.08% of portfolio	1.24% 2.6M shares	Q1 2023 Held for 2y 8m	$96.6B
Toroso Investments, LLC ETF Provider	Guillermo Trias CEO	$70.1M 0.30% of portfolio	1.16% 2.4M shares	Q1 2024 Held for 1y 8m	$23.2B
W WHITEBOX ADVISORS LLC Hedge Fund•Multi-Strategy	Robert Jacob Vogel CIO	$52.6M 4.00% of portfolio	0.87% 1.8M shares	Q3 2022 Held for 3y 2m	$1.3B
Beutel, Goodman & Co Ltd. Long Only Manager	Rui Machado Cardoso Managing Partner	$38.8M 0.23% of portfolio	0.64% 1.3M shares	Q3 2023 Held for 2y 2m	$16.6B
S SPROTT INC. Institution	-	$33.8M 1.27% of portfolio	0.56% 1.2M shares	Q3 2022 Held for 3y 2m	$2.7B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$27.2M 0.00% of portfolio	0.45% 928.4K shares	Q1 2023 Held for 2y 8m	$6.69T

Net Capital Flow

Institutional buying and selling activity for TFPM in Q3 2025

Traded: +$142.0M
Buyers: 127
Sellers: 65
Total Bought: +$238.1M
Total Sold: −$96.1M
Avg Position: $23.6M

Biggest Buyers

Institution	Net Bought	Current Position
Toroso Investments, LLC ETF Provider	+$26.1M +893.6K shares	$70.1M 2.4M shares
VANGUARD GROUP INC Institution	+$25.6M +874.4K shares	$27.2M 928.4K shares
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	+$22.1M +753.9K shares	$77.4M 2.6M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$15.5M +530.4K shares	$76.9M 2.6M shares
Euro Pacific Asset Management, LLC Long Only Manager	+$15.5M +528.4K shares	$15.5M 528.4K shares
S SPROTT INC. Institution	+$11.2M +381.4K shares	$33.8M 1.2M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$8.4M +288.7K shares	$19.1M 651.8K shares
FMR LLC Institution	+$8.0M +274.9K shares	$212.6M 7.3M shares
BANK OF AMERICA CORP /DE/ Institution	+$7.4M +251.6K shares	$13.2M 449.5K shares
VAN ECK ASSOCIATES CORP ETF Provider	+$7.3M +250.1K shares	$74.8M 2.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
W WHITEBOX ADVISORS LLC Hedge Fund•Multi-Strategy	−$17.9M −611.1K shares	$52.6M 1.8M shares
MORGAN STANLEY RIA/Wealth	−$10.4M −354.9K shares	$25.5M 871.1K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$8.8M −302.0K shares	$1.2M 40.3K shares
N Neuberger Berman Group LLC Institution	−$8.4M −287.2K shares	$23.8M 813.6K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$4.5M −154.8K shares	$2.9M 99.1K shares
A AMERICAN CENTURY COMPANIES INC Institution	−$4.2M −144.5K shares	$3.6M 123.2K shares
D D. E. Shaw & Co., Inc. Institution	−$3.4M −116.9K shares	$2.4M 82.7K shares
J JANE STREET GROUP, LLC Institution	−$3.4M −116.2K shares	$3.3M 114.3K shares
SCS Capital Management LLC RIA/Wealth	−$2.9M −99.5K shares	$6.7M 230.6K shares
MACKENZIE FINANCIAL CORP Long Only Manager	−$2.9M −99.2K shares	$25.3M 865.5K shares

Entry and Exit Activity

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

New Positions: 43
New Value: $13.5M
Exited Positions: 13
Exited Value: $4.2M

New Positions

Institution	Position Value
K Knoll Capital Management, LP Institution	$1.7M 58.8K shares
Clearbridge Investments, LLC Long Only Manager	$1.7M 56.8K shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	$1.5M 49.6K shares
Csenge Advisory Group RIA/Wealth	$1.4M 46.9K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	$1.0M 33.4K shares
Aquatic Capital Management LLC Hedge Fund•Quant	$619.9K 21.2K shares
O OXFORD ASSET MANAGEMENT Institution	$571.6K 19.5K shares
K Keebeck Alpha, LP Hedge Fund	$439.3K 15.0K shares
O OMERS ADMINISTRATION Corp Institution	$406.7K 13.9K shares
W WOLVERINE TRADING, LLC Institution	$369.3K 12.7K shares

Exited Positions

Institution	Previous Position
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$1.7M 72.0K shares
C Capula Management Ltd Institution	$1.3M 38.8K shares
BAROMETER CAPITAL MANAGEMENT INC. Long Only Manager	$319.7K 9.9K shares
H HRT FINANCIAL LLC Institution	$259.6K 11.0K shares
Prospect Financial Group LLC RIA/Wealth	$236.0K 10.0K shares
NORTHERN TRUST CORP Institution	$232.9K 9.8K shares
A ARP AMERICAS LLC Hedge Fund•Long/Short	$208.9K 8.8K shares
Kiker Wealth Management, LLC RIA/Wealth	$11.5K 484.0 shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$9.2K 387.0 shares
Hanson McClain, Inc. RIA/Wealth	$4.3K 180.0 shares

Options Activity

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

Call Positions: 4
Call Value: $5.5M
Put Positions: 3
Put Value: $7.6M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.3M 1.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.2M 401.0 contracts
W WOLVERINE TRADING, LLC Institution	$513.7K 176.0 contracts
J JANE STREET GROUP, LLC Institution	$503.3K 172.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$5.7M 2.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.0M 342.0 contracts
W WOLVERINE TRADING, LLC Institution	$834.8K 286.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	Jonathan D Pollock CEO	28.72% $3.9B	64.80% 133.8M shares	Q3 2022 Held for 3y 2m	$13.6B
Spark Investment Management LLC Hedge Fund•Multi-Strategy	Glenn Elliot Dropkin CCO	8.00% $3.2M	0.05% 108.0K shares	Q2 2025 Held for 5 months	$39.5M
W WHITEBOX ADVISORS LLC Hedge Fund•Multi-Strategy	Robert Jacob Vogel CIO	4.00% $52.6M	0.87% 1.8M shares	Q3 2022 Held for 3y 2m	$1.3B
Lummis Asset Management, LP RIA/Wealth	Palmer Bradley Lummis President	2.61% $4.0M	0.05% 98.3K shares	Q4 2023 Held for 1y 11m	$151.9M
Euro Pacific Asset Management, LLC Long Only Manager	Brian Whitfield Cox Managing Partner	2.31% $15.5M	0.26% 528.4K shares	Q3 2025 Held for 2 months	$670.2M
Cove Street Capital, LLC Hedge Fund•Value	Matthew James Weber President	1.92% $1.5M	0.02% 49.7K shares	Q4 2023 Held for 1y 11m	$75.9M
Mountain Lake Investment Management LLC Hedge Fund•Value	Philip Charles Mittleman CEO	1.62% $2.2M	0.04% 74.5K shares	Q1 2025 Held for 8 months	$134.3M
M Merrion Investment Management Co, LLC RIA/Wealth	Nancy M Westbrock CEO	1.51% $2.6M	0.04% 90.2K shares	Q2 2023 Held for 2y 5m	$174.3M
STANSBERRY ASSET MANAGEMENT, LLC RIA/Wealth	Christopher James Delaura CEO	1.33% $12.6M	0.21% 429.5K shares	Q1 2023 Held for 2y 8m	$944.8M
S SPROTT INC. Institution	-	1.27% $33.8M	0.56% 1.2M shares	Q3 2022 Held for 3y 2m	$2.7B

Hedge Fund Spotlight

Discover hedge funds investing in TFPM

Mountain Lake Investment Management LLC

Hedge Fund • Value

Portfolio ManagerPhilip Charles Mittleman

Portfolio Value: $134.3M
Positions: 26
Last Reported: Q3 2025

Sector Allocation

Position in Triple Flag Precious Metals

Market Value: $2.2M
Shares Held: 74.5K
Portfolio Weight: 1.62%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 SGOL abrdn Physical Gold Shares SGOL	Unknown Unknown	$16.9M	12.59%
2 PHYS Sprott Physical Gold Trust PHYS	Unknown Unknown	$13.7M	10.19%
3 AutoNation AN	Auto - Dealerships Consumer Cyclical	$10.7M	7.93%

View full profile

Triple Flag Precious Metals

Overview

All Institutions

Hedge Funds

Ownership Breakdown

Biggest Investors

Net Capital Flow

Biggest Buyers

Biggest Sellers

Entry and Exit Activity

New Positions

Exited Positions

Options Activity

Call Positions

Put Positions

Most Committed Institutions

Hedge Fund Spotlight

Position in Triple Flag Precious Metals

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