Oxbow Advisors, LLC reports 13.31% decrease in ownership of 0R07 / Pan American Silver Corp.

Pan American Silver Corp.

GB ˙ LSE ˙ CA6979001089

67,82 CA$ ↓ -6,19 (-8,36%)

2026-06-05
DEL PRIS

Security	GB:0R07 / Pan American Silver Corp.
Institution	Oxbow Advisors, LLC
Latest Disclosed Ownership	9,243 shares
Latest Disclosed Value	$ 504,934

On April 27, 2026 - Oxbow Advisors, LLC filed a 13F-HR form disclosing ownership of 9,243 shares of Pan American Silver Corp. (GB:0R07) valued at $699,233 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 4, 2026 disclosing 10,662 shares of Pan American Silver Corp.. This represents a change in shares of -13.31% during the quarter. The current value of the position is $626,860 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-04-27	2026-03-31	13F	PAN AMERN SILVER	COM	697900108	9,243	-1,419	-13.31	505	-8.70	0.0429
2026-02-04	2025-12-31	13F	PAN AMERN SILVER	COM	697900108	10,662	-434,163	-97.60	552	-96.80	0.0486
2025-10-31	2025-09-30	13F	PAN AMERN SILVER	COM	697900108	444,825	-5,160	-1.15	17,228	34.81	1.6001
2025-07-29	2025-06-30	13F	PAN AMERN SILVER	COM	697900108	449,985	114,875	34.28	12,780	47.65	1.3967
2025-05-01	2025-03-31	13F	PAN AMERN SILVER	COM	697900108	335,110	172,944	106.65	8,656	164.03	0.9144
2025-02-03	2024-12-31	13F	PAN AMERN SILVER	COM	697900108	162,166	162,166		3,279		0.3859
2024-11-01	2024-09-30	13F	PAN AMERN SILVER	COM	697900108	0	-11,630	-100.00	0	-100.00
2024-08-06	2024-06-30	13F	PAN AMERN SILVER	COM	697900108	11,630	11,630		231		0.0271
2022-02-09	2021-12-31	13F	Pan Amern Silver	COM	697900108	0	-67,450	-100.00	0	-100.00
2021-11-10	2021-09-30	13F	Pan Amern Silver	COM	697900108	67,450	0	0.00	1,570	-18.53	0.1597
2021-08-04	2021-06-30	13F	Pan Amern Silver	COM	697900108	67,450	0	0.00	1,927	-4.89	0.2003
2021-05-11	2021-03-31	13F	Pan Amern Silver	COM	697900108	67,450	-6,895	-9.27	2,026	-21.04	0.2467
2021-02-02	2020-12-31	13F	Pan Amern Silver	COM	697900108	74,345	-4,765	-6.02	2,566	0.90	0.3285
2020-11-06	2020-09-30	13F	Pan Amern Silver	COM	697900108	79,110	13,880	21.28	2,543	28.30	0.3226
2020-08-12	2020-06-30	13F	Pan Amern Silver	COM	697900108	65,230	-585	-0.89	1,982	110.18	0.2885
2020-05-06	2020-03-31	13F	Pan Amern Silver	COM	697900108	65,815	-6,400	-8.86	943	-44.89	0.1586
2020-02-06	2019-12-31	13F	Pan Amern Silver	COM	697900108	72,215	0	0.00	1,711	51.15	0.1977
2019-10-31	2019-09-30	13F	Pan Amern Silver	COM	697900108	72,215	0	0.00	1,132	21.46	0.1504
2019-08-07	2019-06-30	13F	Pan Amern Silver	COM	697900108	72,215	-5,170	-6.68	932	-9.07	0.1122
2019-05-01	2019-03-31	13F	Pan Amern Silver	COM	697900108	77,385	-7,811	-9.17	1,025	-17.60	0.1247
2019-02-12	2018-12-31	13F	Pan Amern Silver	COM	697900108	85,196	6	0.01	1,244	-1.03	0.1662
2018-11-06	2018-09-30	13F	Pan Amern Silver	COM	697900108	85,190	-1,320	-1.53	1,257	-18.85	0.1516
2018-08-09	2018-06-30	13F	Pan Amern Silver	COM	697900108	86,510	0	0.00	1,549	10.88	0.1972
2018-04-30	2018-03-31	13F	Pan Amern Silver	COM	697900108	86,510	-72,413	-45.56	1,397	-43.51	0.2848
2018-01-30	2017-12-31	13F	Pan Amern Silver	COM	697900108	158,923	-1,386	-0.86	2,473	-9.51	0.4631
2017-10-23	2017-09-30	13F	PAN AMERN SILVER	COM	697900108	160,309	-20,442	-11.31	2,733	-10.10	0.5203
2017-07-21	2017-06-30	13F	PAN AMERN SILVER	COM	697900108	180,751	-7,656	-4.06	3,040	-7.91	0.5372
2017-04-28	2017-03-31	13F	PAN AMERN SILVER	COM	697900108	188,407	32,525	20.87	3,301	40.53	0.5362
2017-01-26	2016-12-31	13F	PAN AMERICAN SILVER	COM	697900108	155,882	87,811	129.00	2,349	95.91	0.2934
2016-10-31	2016-09-30	13F	PAN AMERICAN SILVER	COM	697900108	68,071	52,471	336.35	1,199	366.54	0.1646
2016-08-02	2016-06-30	13F	PAN AMERICAN SILVER	COM	697900108	15,600	1,230	8.56	257	64.74	0.0368
2016-05-02	2016-03-31	13F	PAN AMERICAN SILVER	COM	697900108	14,370	0	0.00	156	67.74	0.0221
2016-02-01	2015-12-31	13F	PAN AMERICAN SILVER	COM	697900108	14,370	33	0.23	93	2.20	0.0116
2015-11-03	2015-09-30	13F/A-1	PAN AMERICAN SILVER	COM	697900108	14,337	-202,928	-93.40	91	-95.12	0.0150
2015-11-03	2015-09-30	13F	PAN AMERICAN SILVER	COM	697900108	14,337			91
2015-08-11	2015-06-30	13F	PAN AMERICAN SILVER	COM	697900108	217,265	-1,015,432	-82.37	1,866	-82.74	0.2411
2015-04-23	2015-03-31	13F	PAN AMERN SILVER	COM	697900108	1,232,697	1,110,491	908.70	10,811	861.83	1.6082
2015-01-21	2014-12-31	13F	PAN AMERN SILVER	COM	697900108	122,206	48,301	65.36	1,124	38.59	0.1572
2014-10-21	2014-09-30	13F/A-1	PAN AMERN SILVER	COM	697900108	73,905	73,905		811		0.1148

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.