B2Gold Corp.
NA ˙ NMSE ˙ CA11777Q2099
SecurityNA:B2G / B2Gold Corp.
InstitutionShell Asset Management Co
Latest Disclosed Ownership18,922 shares
Latest Disclosed Value $ 94
Shell Asset Management Co reports 73.30% decrease in ownership of B2G / B2Gold Corp.

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 18,922 shares of B2Gold Corp. (NA:B2G) valued at $94 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 70,872 shares of B2Gold Corp..

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 Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-11-07 2025-09-30 13F B2GOLD COM 11777Q209 18,922 -51,950 -73.30 0 0.0094
2025-07-23 2025-06-30 13F B2GOLD COM 11777Q209 70,872 900 1.29 0 0.0088
2025-05-14 2025-03-31 13F B2GOLD COM 11777Q209 69,972 0 0.00 0 0.0094
2025-02-14 2024-12-31 13F B2GOLD COM 11777Q209 69,972 0 0.00 0 0.0075
2024-11-07 2024-09-30 13F B2GOLD COM 11777Q209 69,972 -4,000 -5.41 0 0.0095
2024-07-25 2024-03-31 13F B2GOLD COM 11777Q209 73,972 -14,500 -16.39 0 0.0090
2024-02-14 2023-12-31 13F B2GOLD COM 11777Q209 88,472 -11,600 -11.59 0 0.0130
2023-11-08 2023-09-30 13F B2GOLD COM 11777Q209 100,072 0 0.00 0 0.0119
2023-07-28 2023-06-30 13F B2GOLD COM 11777Q209 100,072 7,972 8.66 0 0.0141
2023-05-15 2023-03-31 13F B2GOLD COM 11777Q209 92,100 8,000 9.51 0 0.0151
2023-02-07 2022-12-31 13F B2GOLD COM 11777Q209 84,100 -10,000 -10.63 0 -100.00 0.0131
2022-11-14 2022-09-30 13F B2GOLD COM 11777Q209 94,100 -18,900 -16.73 304 -20.42 0.0118
2022-08-09 2022-06-30 13F B2GOLD COM 11777Q209 113,000 -1,300 -1.14 382 -27.24 0.0113
2022-05-04 2022-03-31 13F B2GOLD COM 11777Q209 114,300 0 0.00 525 16.41 0.0124
2022-02-09 2021-12-31 13F B2GOLD COM 11777Q209 114,300 114,300 451 0.0093
2021-11-04 2021-09-30 13F B2GOLD COM 11777Q209 0 -6,000 -100.00 0 -100.00
2021-08-12 2021-06-30 13F B2GOLD COM 11777Q209 6,000 -991 -14.18 25 -16.67 0.0005
2021-05-10 2021-03-31 13F B2GOLD COM 11777Q209 6,991 0 0.00 30 -23.08 0.0006
2021-02-16 2020-12-31 13F B2GOLD COM 11777Q209 6,991 -48,450 -87.39 39 -89.17 0.0008
2020-11-13 2020-09-30 13F B2GOLD COM 11777Q209 55,441 3,100 5.92 360 20.81 0.0084
2020-08-10 2020-06-30 13F B2GOLD COM 11777Q209 52,341 5,300 11.27 298 111.35 0.0074
2020-05-11 2020-03-31 13F B2GOLD COM 11777Q209 47,041 -200 -0.42 141 -25.79 0.0039
2020-02-13 2019-12-31 13F B2GOLD COM 11777Q209 47,241 -26,400 -35.85 190 -20.83 0.0041
2019-11-12 2019-09-30 13F B2GOLD COM 11777Q209 73,641 -2,200 -2.90 240 3.90 0.0055
2019-08-12 2019-06-30 13F B2GOLD COM 11777Q209 75,841 -1,899 -2.44 231 5.96 0.0051
2019-05-09 2019-03-31 13F B2GOLD COM 11777Q209 77,740 0 0.00 218 -3.96 0.0048
2019-02-13 2018-12-31 13F B2GOLD COM 11777Q209 77,740 -27,300 -25.99 227 -5.02 0.0057
2018-11-13 2018-09-30 13F B2GOLD COM 11777Q209 105,040 -4,600 -4.20 239 -15.85 0.0047
2018-08-10 2018-06-30 13F B2GOLD COM 11777Q209 109,640 17,300 18.74 284 12.25 0.0058
2018-05-14 2018-03-31 13F B2GOLD COM 11777Q209 92,340 -1,200 -1.28 253 -12.76 0.0050
2018-02-09 2017-12-31 13F B2GOLD COM 11777Q209 93,540 0 0.00 290 -9.94 0.0058
2017-10-20 2017-09-30 13F/A-1 B2GOLD COM 11777Q209 93,540 0 0.00 322 -5.57 0.0072
2017-10-18 2017-09-30 13F B2GOLD COM 11777Q209 154,197 60,657 352
2017-07-26 2017-06-30 13F B2GOLD COM 11777Q209 93,540 0 0.00 341 -3.94 0.0085
2017-04-26 2017-03-31 13F B2GOLD COM 11777Q209 93,540 -2,000 -2.09 355 16.78 0.0091
2017-01-10 2016-12-31 13F B2GOLD COM 11777Q209 95,540 -2,200 -2.25 304 -9.52 0.0082
2016-10-28 2016-09-30 13F B2GOLD COM 11777Q209 97,740 -3,800 -3.74 336 2.13 0.0080
2016-07-25 2016-06-30 13F B2GOLD COM 11777Q209 101,540 21,700 27.18 329 91.28 0.0076
2016-05-11 2016-03-31 13F B2GOLD COM 11777Q209 79,840 -14,200 -15.10 172 31.30 0.0041
2016-02-05 2015-12-31 13F B2GOLD COM 11777Q209 94,040 -60,157 -39.01 131 -62.78 0.0031
2015-10-13 2015-09-30 13F B2GOLD COM 11777Q209 154,197 19,157 14.19 352 36.43 0.0056
2015-07-30 2015-06-30 13F B2GOLD COM 11777Q209 135,040 -25,600 -15.94 258 -15.13 0.0052
2015-05-07 2015-03-31 13F B2GOLD COM 11777Q209 160,640 160,640 0.00 304 0.0053
2015-02-04 2014-12-31 13F B2GOLD COM 11777Q209 0 -154,197 -100.00 0 -100.00
2014-10-24 2014-09-30 13F B2GOLD COM 11777Q209 154,197 0 0.00 352 -26.67 0.0055
2014-08-08 2014-06-30 13F B2GOLD COM 11777Q209 154,197 -13,699 -8.16 480 -4.76 0.0074
2014-05-07 2014-03-31 13F B2GOLD COM 11777Q209 167,896 39,150 30.41 504 79.36 0.0084
2014-02-03 2013-12-31 13F/A-1 B2GOLD COM 11777Q209 128,746 -20,075 -13.49 281 -26.44 0.0048
2014-01-27 2013-12-31 13F B2GOLD COM 11777Q209 128,746 281
2013-10-28 2013-09-30 13F B2GOLD COM 11777Q209 148,821 3,608 2.48 382 17.54 0.0070
2013-08-01 2013-06-30 13F B2GOLD COM 11777Q209 145,213 145,213 325 0.0062
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.