Pan American Silver Corp.
US ˙ NYSE ˙ CA6979001089

SecurityPAAS / Pan American Silver Corp.
InstitutionRYDEX VARIABLE TRUST - Basic Materials Variable Annuity
Latest Disclosed Ownership2,001 shares
Latest Disclosed Value $ 56,828
RYDEX VARIABLE TRUST - Basic Materials Variable Annuity reports 12.35% decrease in ownership of PAAS / Pan American Silver Corp.

On August 27, 2025 - RYDEX VARIABLE TRUST - Basic Materials Variable Annuity filed a NPORT-P form disclosing ownership of 2,001 shares of Pan American Silver Corp. (US:PAAS) valued at $56,828 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 29, 2025 disclosing 2,283 shares of Pan American Silver Corp.. This represents a change in shares of -12.35% during the quarter. The current value of the position is $95,148 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 Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-08-27 2025-06-30 NP Pan American Silver EC CA6979001089 2,001 -282 -12.35 57 -3.45 1.0281
2025-05-29 2025-03-31 NP Pan American Silver EC CA6979001089 2,283 -234 -9.30 59 16.00 0.9906
2025-03-03 2024-12-31 NP Pan American Silver EC CA6979001089 2,517 -703 -21.83 51 -25.37 0.8434
2024-11-29 2024-09-30 NP Pan American Silver EC CA6979001089 3,220 -549 -14.57 67 -9.46 1.0449
2024-08-29 2024-06-30 NP Pan American Silver EC CA6979001089 3,769 -1,547 -29.10 75 -7.50 1.0668
2024-05-30 2024-03-31 NP Pan American Silver EC CA6979001089 5,316 1,611 43.48 80 33.33 1.0232
2024-02-29 2023-12-31 NP Pan American Silver EC CA6979001089 3,705 -631 -14.55 61 -3.23 0.8411
2023-11-29 2023-09-30 NP Pan American Silver EC CA6979001089 4,336 -1,509 -25.82 63 -27.06 0.9730
2023-08-28 2023-06-30 NP Pan American Silver EC CA6979001089 5,845 654 12.60 85 -9.57 0.9673
2023-05-30 2023-03-31 NP Pan American Silver EC CA6979001089 5,191 2,866 123.27 94 74.07 1.0348
2021-11-29 2021-09-30 NP Pan American Silver EC CA6979001089 2,325 -623 -21.13 54 -35.71 0.7193
2021-08-27 2021-06-30 NP Pan American Silver EC CA6979001089 2,948 900 43.95 84 37.70 0.7484
2021-05-27 2021-03-31 NP Pan American Silver EC CA6979001089 2,048 -133 -6.10 62 -18.67 0.7744
2021-03-01 2020-12-31 NP Pan American Silver EC CA6979001089 2,181 330 17.83 75 27.12 0.9129
2020-11-25 2020-09-30 NP Pan American Silver EC CA6979001089 1,851 -146 -7.31 60 -1.67 0.9561
2020-08-27 2020-06-30 NP Pan American Silver EC CA6979001089 1,997 -160 -7.42 61 100.00 1.1631
2020-06-01 2020-03-31 NP Pan American Silver EC CA6979001089 2,157 -398 -15.58 31 -50.00 0.7978
2020-03-02 2019-12-31 NP Pan American Silver EC CA6979001089 2,555 -680 -21.02 61 20.00 0.9754
2019-11-27 2019-09-30 NP Pan American Silver EC CA6979001089 3,235 3,235 51 0.7531
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.