Americas Gold and Silver

USAS • AMEX

Americas Gold and Silver is a industrial materials company in the basic materials sector on AMEX, led by Peter McRae, with a market cap of $1.8B. As of Q3 2025, 22% of shares are held by 74 institutional investors, with Merk Investments LLC as the largest holder at 9.45%.

CEOPeter McRae

Market Cap$1.8B

Industrial Materials

Basic Materials

Employees622.0

Websiteamericas-gold.com

Overview

Overview of institutional ownership in USAS as of Q3 2025 with a market cap of $1.0B

All Institutions

Institutions: 74
Value Held: $221.9M
Shares Held: 59.7M
Avg Position: $3.0M
Median Position: $374.0K

Hedge Funds

Hedge Funds: 10
Value Held: $12.9M
Shares Held: 3.5M
Avg Position: $1.3M
Median Position: $568.2K

Ownership Breakdown

Institutional (non-HF)

20.67%

$209.0M

Hedge Funds

1.28%

$12.9M

Retail & Other

78.05%

$789.0M

Based on market cap of $1.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in USAS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Merk Investments LLC ETF Provider	Alexander Gabriel Merk President	$95.5M 30.38% of portfolio	9.45% 25.7M shares	Q4 2019 Held for 5y 11m	$314.5M
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	-	$27.4M 0.04% of portfolio	2.70% 7.3M shares	Q2 2025 Held for 5 months	$61.8B
A ALPS ADVISORS INC ETF Provider	Laton Andrew Spahr President	$13.4M 0.07% of portfolio	1.33% 3.6M shares	Q4 2024 Held for 11 months	$18.0B
MONTRUSCO BOLTON INVESTMENTS INC. Long Only Manager	Sylvain Boule CEO	$10.0M 0.12% of portfolio	0.98% 2.7M shares	Q3 2025 Held for 2 months	$8.6B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$9.1M 0.00% of portfolio	0.90% 2.4M shares	Q3 2022 Held for 3y 2m	$1.33T
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$5.6M 0.00% of portfolio	0.55% 1.5M shares	Q3 2021 Held for 4y 2m	$121.98B
M MANUFACTURERES LIFE INSURANCE CO Institution	-	$5.5M 0.00% of portfolio	0.55% 1.5M shares	Q3 2024 Held for 1y 2m	$120.17B
S SPROTT INC. Institution	-	$5.3M 0.20% of portfolio	0.52% 1.4M shares	Q4 2024 Held for 11 months	$2.7B
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	John Wyatt Ricketts President	$4.5M 0.01% of portfolio	0.44% 1.2M shares	Q3 2024 Held for 1y 2m	$31.7B
INTACT INVESTMENT MANAGEMENT INC. Private Equity	Edward Joseph Keefe CFO	$4.0M 0.12% of portfolio	0.40% 1.1M shares	Q1 2025 Held for 8 months	$3.3B

Net Capital Flow

Institutional buying and selling activity for USAS in Q3 2025

Traded: +$28.6M
Buyers: 53
Sellers: 25
Total Bought: +$57.3M
Total Sold: −$28.7M
Avg Position: $2.7M

Biggest Buyers

Institution	Net Bought	Current Position
MONTRUSCO BOLTON INVESTMENTS INC. Long Only Manager	+$10.0M +2.7M shares	$10.0M 2.7M shares
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	+$7.8M +2.1M shares	$27.4M 7.3M shares
A ALPS ADVISORS INC ETF Provider	+$7.2M +1.9M shares	$13.4M 3.6M shares
BANK OF AMERICA CORP /DE/ Institution	+$4.5M +1.2M shares	$9.1M 2.4M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$3.1M +830.6K shares	$5.6M 1.5M shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$2.8M +746.9K shares	$4.5M 1.2M shares
UBS Group AG Institution	+$2.7M +713.4K shares	$3.2M 855.2K shares
G GAMCO INVESTORS, INC. ET AL Institution	+$2.2M +595.8K shares	$2.7M 731.5K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	+$2.2M +589.8K shares	$2.2M 589.8K shares
J JANE STREET GROUP, LLC Institution	+$2.0M +540.6K shares	$2.5M 666.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
Merk Investments LLC ETF Provider	−$10.3M −2.8M shares	$95.5M 25.7M shares
Toroso Investments, LLC ETF Provider	−$4.5M −2.2M shares	Sold Off 0 shares
S SPROTT INC. Institution	−$3.4M −899.1K shares	$5.3M 1.4M shares
INTACT INVESTMENT MANAGEMENT INC. Private Equity	−$3.1M −821.7K shares	$4.0M 1.1M shares
M MANUFACTURERES LIFE INSURANCE CO Institution	−$2.6M −702.0K shares	$5.5M 1.5M shares
MACKENZIE FINANCIAL CORP Long Only Manager	−$1.9M −512.2K shares	$378.5K 101.5K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$1.7M −444.8K shares	$1.1M 295.2K shares
D DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Institution	−$256.1K −127.3K shares	Sold Off 0 shares
W WealthTrust Axiom LLC Institution	−$242.9K −65.3K shares	$2.3M 612.8K shares
Marshall Wace LLP Institution	−$169.0K −83.4K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 16
New Value: $14.7M
Exited Positions: 9
Exited Value: $5.2M

New Positions

Institution	Position Value
MONTRUSCO BOLTON INVESTMENTS INC. Long Only Manager	$10.0M 2.7M shares
PCJ Investment Counsel Ltd. Long Only Manager	$1.6M 425.0K shares
P PenderFund Capital Management Ltd. Institution	$771.2K 206.8K shares
W Waratah Capital Advisors Ltd. Hedge Fund•Multi-Strategy	$645.5K 173.5K shares
Q Quarry LP Institution	$453.7K 121.9K shares
Quantbot Technologies LLC Hedge Fund•Quant	$402.2K 108.1K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$369.6K 99.1K shares
G GTS SECURITIES LLC Institution	$99.7K 26.8K shares
AA Financial Advisors, LLC RIA/Wealth	$93.0K 25.0K shares
Mountain Capital Investment Advisors, Inc RIA/Wealth	$68.6K 17.9K shares

Exited Positions

Institution	Previous Position
Toroso Investments, LLC ETF Provider	$4.5M 2.2M shares
D DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Institution	$256.1K 127.3K shares
Marshall Wace LLP Institution	$169.0K 83.4K shares
T TWO SIGMA SECURITIES, LLC Institution	$123.1K 60.9K shares
A AMERICAN CENTURY COMPANIES INC Institution	$116.2K 57.5K shares
Scientech Research LLC Hedge Fund•Market Neutral	$13.2K 6.5K shares
F FSA Advisors, Inc. Institution	$8.3K 4.1K shares
BUILDER INVESTMENT GROUP INC /ADV RIA/Wealth	$8.1K 4.0K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$3.8K 1.9K shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Merk Investments LLC ETF Provider	Alexander Gabriel Merk President	30.38% $95.5M	9.45% 25.7M shares	Q4 2019 Held for 5y 11m	$314.5M
W WealthTrust Axiom LLC Institution	-	0.61% $2.3M	0.23% 612.8K shares	Q1 2017 Held for 8y 8m	$373.3M
PCJ Investment Counsel Ltd. Long Only Manager	Timothy Michael Marzec President	0.44% $1.6M	0.16% 425.0K shares	Q3 2025 Held for 2 months	$359.5M
P PenderFund Capital Management Ltd. Institution	-	0.30% $771.2K	0.08% 206.8K shares	Q3 2025 Held for 2 months	$254.4M
U U S GLOBAL INVESTORS INC Institution	Frank Edward Holmes CEO	0.24% $2.2M	0.21% 580.0K shares	Q4 2024 Held for 11 months	$883.9M
S SPROTT INC. Institution	-	0.20% $5.3M	0.52% 1.4M shares	Q4 2024 Held for 11 months	$2.7B
P Papamarkou Wellner Asset Management inc. Institution	-	0.14% $234.2K	0.02% 63.0K shares	Q4 2024 Held for 11 months	$161.6M
Q Quarry LP Institution	-	0.12% $453.7K	0.04% 121.9K shares	Q3 2025 Held for 2 months	$369.0M
INTACT INVESTMENT MANAGEMENT INC. Private Equity	Edward Joseph Keefe CFO	0.12% $4.0M	0.40% 1.1M shares	Q1 2025 Held for 8 months	$3.3B
MONTRUSCO BOLTON INVESTMENTS INC. Long Only Manager	Sylvain Boule CEO	0.12% $10.0M	0.98% 2.7M shares	Q3 2025 Held for 2 months	$8.6B

Hedge Fund Spotlight

Discover hedge funds investing in USAS

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Americas Gold and Silver

Market Value: $1.2M
Shares Held: 311.5K
Portfolio Weight: 0.00%
Owned Since: 2023-Q1

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