Van Eck reports 21.4M shares in Pan American Silver (PAAS)

Rhea-AI Filing Summary

Van Eck Associates Corporation reported beneficial ownership of 21,402,358 common shares of Pan American Silver Corp, equal to 5.08% of the class as of 03/31/2026. The filing (Amendment No. 18) lists sole voting and dispositive power over these shares.

Insights

Institutional Ownership Analyst

Van Eck holds a disclosed 5.08% stake in PAAS as of 03/31/2026.

Van Eck Associates Corporation reports beneficial ownership of 21,402,358 common shares with sole voting and dispositive power. The filing is an amended Schedule 13G, updating ownership figures and confirming control attributes.

Ownership at this scale can affect shareholder voting dynamics; subsequent filings may show changes. Beneficial ownership is reported directly in the amendment and is tied to the 03/31/2026 reporting date.

Regulatory Compliance Specialist

Amendment confirms reporting under passive investor rules with specific voting and disposal powers disclosed.

The Schedule 13G/A form indicates the filer is reporting under the applicable beneficial ownership regime and specifies sole voting and dispositive power for 21,402,358 shares. CUSIP 697900108 is cited for identification.

Filing signature dated 05/15/2026 finalizes the amendment; governance or proxy calendars could be impacted depending on future position changes.

Key Figures

Beneficial ownership: 21,402,358 shares Percent of class: 5.08% CUSIP: 697900108 +2 more

5 metrics

Beneficial ownership 21,402,358 shares Common Shares, as of <date>03/31/2026</date>

Percent of class 5.08% Percent of common shares outstanding

CUSIP 697900108 Pan American Silver Corp common shares identification

Sole voting power 21,402,358 shares Sole power to vote as reported in ownership section

Filing signature date 05/15/2026 Signature by Ashley Sousa, Assistant Vice President

Key Terms

Schedule 13G/A, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 18; Schedule 13G/A identifies beneficial ownership reporting"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned regulatory

"Ownership (a) Amount beneficially owned: 21402358"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 21402358"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 18)

PAN AMERICAN SILVER CORP

(Name of Issuer)

Common Shares

(Title of Class of Securities)

697900108

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 697900108

1

Names of Reporting Persons

VAN ECK ASSOCIATES CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 21,402,358.00
6	Shared Voting Power
7	Sole Dispositive Power 21,402,358.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

21,402,358.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.08 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PAN AMERICAN SILVER CORP
(b)	Address of issuer's principal executive offices: 2100-733 SEYMOUR ST, VANCOUVER, British Columbia, Canada, V6B 0S6
Item 2.
(a)	Name of person filing: Van Eck Associates Corporation
(b)	Address or principal business office or, if none, residence: 666 Third Ave, 9th Floor, New York NY 10017
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 697900108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 21402358
(b)	Percent of class: 5.08 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 21402358
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of: 21402358
	(iv) Shared power to dispose or to direct the disposition of:
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

VAN ECK ASSOCIATES CORP

Signature:	Ashley Sousa
Name/Title:	Assistant Vice President, Van Eck Associates Corporation
Date:	05/15/2026

FAQ

What does Van Eck's 5.08% stake in PAAS mean?

It means Van Eck Associates Corporation beneficially owns 21,402,358 common shares, equal to 5.08% of Pan American Silver's class as reported on 03/31/2026. The filing shows sole voting and dispositive power over those shares.

Which filing reports Van Eck's holdings in PAAS?

The holdings are reported in a Schedule 13G/A (Amendment No. 18) for Pan American Silver Corp, identifying CUSIP 697900108. The amendment updates beneficial ownership and control attributes and is signed on 05/15/2026.

Does the Schedule 13G/A indicate voting power for Van Eck?

Yes. The amendment states Van Eck has sole power to vote and sole power to dispose of 21,402,358 shares. Those powers are listed explicitly in the ownership section of the filing.

What date is the ownership figure tied to?

The ownership count of 21,402,358 shares and the 5.08% stake are reported with a time anchor of 03/31/2026, as shown on the filing cover. The amendment was signed on 05/15/2026.