PPTA PERPETUA RESOURCES CORP.
Executive Summary
Three mega-passive institutional investors (Vanguard, BlackRock, State Street) significantly increased their positions in Perpetua Resources during Q3 2025, adding a combined $98.9M in new holdings. The buying is dominated by index-fund rebalancing, not active manager conviction, and the cluster's historical win rate on this ticker is 0% at T+20, suggesting limited near-term alpha.
Key Financial Metrics
Institutional Positions
Net institutional flow: $98.9M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Vanguard | DOUBLED | +165.8% | $38.7M | $30.0M |
| BlackRock | ADD | +40.7% | $90.0M | $51.6M |
| State Street | ADD | +73.5% | $26.6M | $17.4M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fidelity | TRIM | -37.2% | $40.0K | $2.0K |
Actionable Insight
The cluster is entirely passive rebalancing, not active conviction. With 0% historical win rate and -14.82% avg alpha at T+20, this filing provides no actionable signal. Monitor for active manager 13F filings or company-specific catalysts (e.g., gold price moves, project milestones) for directional cues.
Key Facts
- 3 mega-passive funds (Vanguard, BlackRock, State Street) added $98.9M in net new holdings during Q3 2025
- Vanguard doubled its position (+165.8% shares), BlackRock added +40.7%, State Street added +73.5%
- Only 1 seller (Fidelity) trimmed a trivial position (-37.2% shares, net change +$2K)
- All buyers are passive/index fund managers — no active hedge fund or activist involvement
- Historical reports on PPTA show 0% win rate at T+20 across 8 settled reports, with avg alpha of -14.82% vs SPY
Financial Impact
3 passive institutions accumulated $98.9M in new positions; 1 passive seller reduced holdings by a negligible $2K
Risk Factors
- Passive buying may reverse in next quarter's rebalance
- Historical T+20 performance on PPTA has been strongly negative across all prior reports
- No active manager participation limits signal quality
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-PPTA-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
2d ago
|
Institutional Cluster
| $21.36 awaiting T+5 | awaiting T+5 | — | — |
|
Jun 10, 2026
2d ago
|
8-K
| $21.36 awaiting T+5 | awaiting T+5 | — | — |
|
Jun 1, 2026
12d ago
|
8-K
| $25.74 $22.65 | ▼ −12.00% | ▼ −9.25% | — |
|
May 21, 2026
22d ago
|
8-K
| $25.32 $25.74 | ▲ +1.66% | ▼ −0.02% | — |
|
Apr 24, 2026
7w ago
|
DEFA14A
| $29.14 $27.61 | ▼ −5.25% | ▼ −6.16% | — |
|
Apr 9, 2026
9w ago
|
8-K
| $30.13 $31.65 | ▲ +5.04% | ▲ +1.86% | — |
|
Apr 2, 2026
10w ago
|
Insider Cluster
| $29.43 $29.94 | ▲ +1.73% | ▼ −1.89% | — |
|
Mar 5, 2026
14w ago
|
8-K
| $32.18 $29.76 | ▼ −7.52% | ▼ −5.99% | — |
|
Feb 28, 2026
15w ago
|
Institutional Cluster
| $37.22 $32.81 | ▼ −11.85% | ▼ −10.64% | — |
US Market Status
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