Wheaton Precious Metals

WPM • NYSE

Wheaton Precious Metals is a gold company in the basic materials sector on NYSE, led by Randy V. J. Smallwood, with a market cap of $61.5B. As of Q3 2025, 63% of shares are held by 732 institutional investors, with Capital World Investors as the largest holder at 8.3%.

CEORandy V. J. Smallwood

Market Cap$61.5B

Gold

Basic Materials

Employees42.0

Websitewheatonpm.com

Overview

Overview of institutional ownership in WPM as of Q3 2025 with a market cap of $50.8B

All Institutions

Institutions: 732
Value Held: $31.9B
Shares Held: 284.9M
Avg Position: $43.6M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 42
Value Held: $860.2M
Shares Held: 7.7M
Avg Position: $20.5M
Median Position: $2.4M

Ownership Breakdown

Institutional (non-HF)

61.14%

$31.0B

Hedge Funds

1.69%

$860.2M

Retail & Other

37.17%

$18.9B

Based on market cap of $50.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in WPM as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
C Capital World Investors Institution	-	$4.2B 0.58% of portfolio	8.30% 37.7M shares	Q1 2020 Held for 5y 9m	$730.00B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.1B 0.03% of portfolio	4.14% 18.8M shares	Q1 2015 Held for 10y 9m	$6.69T
F First Eagle Investment Management, LLC Long Only Manager	Mehdi Asif Mahmud CEO	$1.9B 3.50% of portfolio	3.78% 17.2M shares	Q2 2017 Held for 8y 6m	$54.9B
FMR LLC Institution	-	$1.9B 0.10% of portfolio	3.75% 17.0M shares	≤ Q2 2013 Held for 12y 6m+	$1.92T
VAN ECK ASSOCIATES CORP ETF Provider	Jan Frederick Vaneck CEO	$1.5B 1.51% of portfolio	2.88% 13.1M shares	≤ Q2 2013 Held for 12y 6m+	$96.6B
R ROYAL BANK OF CANADA Institution	-	$1.1B 0.21% of portfolio	2.24% 10.2M shares	≤ Q2 2013 Held for 12y 6m+	$542.04B
F FIL Ltd Institution	-	$1.1B 0.87% of portfolio	2.19% 9.9M shares	Q4 2017 Held for 8 years	$127.75B
C Capital International Investors Institution	-	$839.0M 0.14% of portfolio	1.65% 7.5M shares	Q4 2024 Held for 1 year	$617.62B
T TD ASSET MANAGEMENT INC Institution	-	$811.7M 0.66% of portfolio	1.60% 7.3M shares	≤ Q2 2013 Held for 12y 6m+	$123.48B
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	-	$777.9M 1.26% of portfolio	1.53% 7.0M shares	Q2 2024 Held for 1y 6m	$61.9B

Net Capital Flow

Institutional buying and selling activity for WPM in Q3 2025

Traded: +$268.6M
Buyers: 378
Sellers: 257
Total Bought: +$2.2B
Total Sold: −$2.0B
Avg Position: $41.4M

Biggest Buyers

Institution	Net Bought	Current Position
GOLDMAN SACHS GROUP INC Institution	+$206.9M +1.9M shares	$574.3M 5.1M shares
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	+$206.7M +1.8M shares	$777.9M 7.0M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$162.6M +1.5M shares	$469.5M 4.2M shares
BANK OF MONTREAL /CAN/ Institution	+$149.4M +1.3M shares	$722.3M 6.5M shares
Q Qube Research & Technologies Ltd Institution	+$131.4M +1.2M shares	$139.3M 1.2M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$101.1M +903.8K shares	$123.9M 1.1M shares
Capital Research Global Investors RIA/Wealth	+$100.0M +893.7K shares	$163.2M 1.5M shares
M MANUFACTURERES LIFE INSURANCE CO Institution	+$84.4M +753.7K shares	$445.9M 4.0M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$64.1M +559.5K shares	$482.4M 4.2M shares
FMR LLC Institution	+$58.2M +520.4K shares	$1.9B 17.0M shares

Biggest Sellers

Institution	Net Sold	Current Position
VAN ECK ASSOCIATES CORP ETF Provider	−$506.1M −4.5M shares	$1.5B 13.1M shares
F FIL Ltd Institution	−$248.7M −2.2M shares	$1.1B 9.9M shares
C Capital World Investors Institution	−$125.7M −1.1M shares	$4.2B 37.7M shares
F First Eagle Investment Management, LLC Long Only Manager	−$104.8M −937.3K shares	$1.9B 17.2M shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	−$98.9M −884.0K shares	$191.6M 1.7M shares
N Neuberger Berman Group LLC Institution	−$72.4M −647.5K shares	$277.5M 2.5M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$62.3M −693.5K shares	Sold Off 0 shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$42.9M −384.0K shares	$34.5M 308.8K shares
CIBC Global Asset Management Inc Long Only Manager	−$39.2M −348.3K shares	$319.5M 2.8M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$38.6M −345.4K shares	$51.8M 462.9K shares

Entry and Exit Activity

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

New Positions: 58
New Value: $50.8M
Exited Positions: 39
Exited Value: $226.9M

New Positions

Institution	Position Value
Weiss Asset Management LP Hedge Fund•Multi-Strategy	$12.5M 112.0K shares
Arrow Capital Pty Ltd Hedge Fund•Market Neutral	$9.3M 55.0K shares
SHIKIAR ASSET MANAGEMENT INC RIA/Wealth	$6.6M 58.8K shares
P PEAK6 LLC Institution	$3.8M 33.9K shares
P PINNBROOK CAPITAL MANAGEMENT LP Hedge Fund•Global Macro	$3.7M 33.3K shares
Q Quantessence Capital LLC Hedge Fund•Quant	$2.5M 22.7K shares
Greenwich Wealth Management LLC RIA/Wealth	$1.1M 10.0K shares
A Arizona State Retirement System Institution	$900.3K 8.1K shares
AlTi Global, Inc. Institution	$862.3K 7.7K shares
Diametric Capital, LP Hedge Fund•Long/Short	$584.8K 5.2K shares

Exited Positions

Institution	Previous Position
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$62.3M 693.5K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$30.2M 336.3K shares
Q Quadrature Capital Ltd Institution	$29.8M 333.4K shares
A AXA Institution	$27.3M 303.7K shares
Lombard Odier Asset Management Ltd Private Equity	$17.3M 193.2K shares
R Ruffer LLP Long Only Manager	$17.0M 189.5K shares
C Concentric Capital Strategies, LP Hedge Fund•Long/Short	$9.5M 106.0K shares
O ONTARIO TEACHERS PENSION PLAN BOARD Institution	$6.8M 76.1K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$6.3M 69.8K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$4.0M 44.9K shares

Options Activity

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

Call Positions: 26
Call Value: $364.3M
Put Positions: 25
Put Value: $587.3M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$130.2M 11.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$51.2M 4.6K contracts
TORONTO DOMINION BANK Institution	$31.7M 2.8K contracts
W WOLVERINE TRADING, LLC Institution	$26.0M 2.4K contracts
J JANE STREET GROUP, LLC Institution	$20.1M 1.8K contracts
E Eisler Capital Management Ltd. Institution	$16.8M 1.5K contracts
S SIG North Trading, ULC Institution	$11.4M 1.0K contracts
C Cubist Systematic Strategies, LLC Institution	$10.9M 977.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$10.2M 913.0 contracts
CITIGROUP INC Institution	$10.1M 900.0 contracts

Put Positions

Institution	Position Value
BARCLAYS PLC Institution	$151.0M 13.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$122.6M 11.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$98.4M 8.8K contracts
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	$72.7M 6.5K contracts
BANK OF AMERICA CORP /DE/ Institution	$16.8M 1.5K contracts
W WOLVERINE TRADING, LLC Institution	$16.6M 1.5K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$15.2M 1.4K contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$13.0M 1.2K contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$11.8M 1.1K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$11.2M 1.0K contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
M Moerus Capital Management LLC Hedge Fund•Value	Amit Bhagwandas Wadhwaney Managing Partner	18.11% $44.6M	0.09% 398.3K shares	Q4 2018 Held for 7 years	$246.0M
D DUDLEY & SHANLEY, LLC RIA/Wealth	Henry Claypool Dudley Chairman	12.52% $77.8M	0.15% 695.7K shares	Q3 2019 Held for 6y 3m	$621.5M
T Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Institution	-	8.24% $3.3M	0.01% 29.8K shares	Q1 2024 Held for 1y 9m	$40.5M
B BEDDOW CAPITAL MANAGEMENT INC RIA/Wealth	Edward George Beddow President	5.47% $10.4M	0.02% 93.2K shares	Q3 2020 Held for 5y 3m	$190.8M
M MEDICI CAPITAL LLC Institution	-	5.15% $4.0M	0.01% 36.0K shares	Q1 2025 Held for 9 months	$78.1M
Arrow Capital Pty Ltd Hedge Fund•Market Neutral	Tim Bolger COO	5.10% $9.3M	0.01% 55.0K shares	Q3 2025 Held for 3 months	$182.1M
S SPROTT INC. Institution	-	4.85% $128.9M	0.25% 1.2M shares	≤ Q2 2013 Held for 12y 6m+	$2.7B
Euro Pacific Asset Management, LLC Long Only Manager	James Ryan Nelson Managing Partner	4.77% $32.0M	0.06% 285.7K shares	Q4 2019 Held for 6 years	$670.2M
MRM-Horizon Advisors LLC Fund of Funds	Richard William Silver Managing Partner	4.69% $11.0M	0.02% 97.9K shares	Q4 2015 Held for 10 years	$233.4M
HENDLEY & CO INC RIA/Wealth	Renee' Melick Smith President	4.44% $13.2M	0.03% 117.7K shares	Q3 2024 Held for 1y 3m	$296.2M

Hedge Fund Spotlight

Discover hedge funds investing in WPM

Fermata Advisors, LLC

Hedge Fund • Sector

Portfolio ManagerNelson Moonhun Seo

Portfolio Value: $371.6M
Positions: 207
Last Reported: Q3 2025

Sector Allocation

Position in Wheaton Precious Metals

Market Value: $226.8K
Shares Held: 2.0K
Portfolio Weight: 0.06%
Owned Since: 2025-Q3

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