B2GOLDBTG

13F holders, Q3 2025 (September 30)
286holders +30
60new positions
30sold out
8famous investors
$4.95avg. 13F price*

At the end of Q3 2025, 286 institutions reported holding B2GOLD Corp. (BTG) in their 13F filings, up 30 from Q2 2025. 60 opened new positions and 30 sold out. The largest holders were Van Eck Associates Corp. ($573.7M), FMR LLC ($501.8M) and Vanguard Group Inc. ($271.9M). 8 famous investors held it, including Paul Tudor Jones (0.1% of Tudor Investment Corporation's portfolio), Steve Cohen (0.1% of Point72 Asset Management's portfolio) and David E. Shaw (0.1% of D. E. Shaw & Co.'s portfolio).

Company
B2GOLD Corp.
CUSIP
11777Q209
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300400 Q1 2024: 253Q1 2024Q2 2024: 262Q2 2024Q3 2024: 253Q3 2024Q4 2024: 242Q4 2024Q1 2025: 256Q1 2025Q2 2025: 256Q2 2025Q3 2025: 286Q3 2025Q4 2025: 291Q4 2025Q1 2026: 299Q1 2026Q2 2026: 302Q2 2026

Total Exit/New Position Q2 2025 → Q3 2025

InstitutionsTotal Value
New Positions60$113.6M
Exits30$34.9M

All 13F filers, Q2 2025 → Q3 2025: 119,604,094 shares bought and 124,637,904 shares sold, net −5,033,810 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 286 holders

Van Eck Associates Corp. 0.54% Reduce -11.7% 115,903,653 $573.7M
FMR LLC 0.03% Add +26.4% 101,498,337 $501.8M
Vanguard Group Inc. 0.00% Add +2.6% 55,005,249 $271.9M
Pale Fire Capital SE 27.14% Reduce -23.9% 50,015,909 $247.6M
American Century Companies Inc. 0.09% Add +14.6% 34,067,358 $168.5M
Dimensional Fund Advisors LP 0.03% Add +4.9% 31,137,730 $154.1M
Two Sigma Investments, LP 0.17% Reduce -23.6% 21,486,019 $106.4M
Arrowstreet Capital, Limited Partnership 0.06% Reduce -47.0% 18,171,486 $89.9M
Two Sigma Advisers, LP 0.17% Reduce -30.2% 16,805,180 $83.2M
Connor, Clark & Lunn Investment Management Ltd. 0.20% Add +34.4% 13,119,360 $64.8M
First Eagle Investment Management, LLC 0.12% Add +0.1% 12,870,583 $63.6M
D. E. Shaw & Co. 0.05% Add +6795.5% 11,748,339 $58.1M
Bank of Montreal 0.02% Add +18.0% 11,689,261 $57.8M
Invesco Ltd. 0.01% Add +13.0% 10,434,935 $51.7M
FIL Ltd 0.04% Add +18703.8% 10,057,417 $49.7M
Bank of America Corp. 0.00% Add +47.5% 9,839,431 $48.7M
Franklin Resources Inc. 0.01% Reduce -6.0% 9,760,647 $48.2M
Amundi 0.02% Add +51.6% 9,000,638 $48.0M
Deutsche Bank AG 0.02% Add +22.2% 9,165,239 $45.4M
Morgan Stanley 0.00% Add +1.7% 9,033,207 $44.7M
Royal Bank of Canada 0.01% Add +84.3% 8,266,069 $40.9M
Euro Pacific Asset Management, LLC 4.46% Add +8.5% 7,544,575 $37.0M
Susquehanna International Group, LLP 0.05% Add +58.6% 7,449,482 $36.9M
Goldman Sachs Group Inc. 0.01% Reduce -34.0% 7,249,683 $35.9M
Millennium Management 0.03% Reduce -42.6% 6,703,249 $33.2M
National Bank of Canada 0.04% Reduce -8.1% 6,493,562 $31.9M
Legal & General Group Plc 0.01% Add +19.6% 6,357,589 $31.4M
Manufacturers Life Insurance Company, The 0.03% Reduce -9.7% 6,179,868 $30.6M
Continental General Insurance Co. 5.74% New 5,964,422 $29.5M
Nuveen, LLC 0.01% Reduce -18.7% 5,748,135 $28.4M
Point72 Asset Management 0.05% Add +75.2% 4,637,085 $22.9M
Charles Schwab Investment Management Inc. 0.00% Add +10.2% 4,528,589 $22.4M
TD Asset Management Inc 0.02% Add +3.3% 4,267,217 $21.1M
Cubist Systematic Strategies, LLC 0.30% New 4,251,774 $21.0M
Jane Street Group, LLC 0.02% Add +223.2% 4,063,903 $20.1M
Citadel Advisors 0.02% Reduce -85.5% 4,037,481 $20.0M
Tudor Investment Corporation 0.13% Add +20.9% 3,799,503 $18.8M
Schroder Investment Management Group 0.01% Add +82.1% 3,506,262 $17.4M
Group One Trading LLC 0.49% Add +49.4% 3,309,078 $16.4M
Allianz Asset Management GmbH 0.02% No change 3,013,114 $14.9M
Easterly Investment Partners LLC 0.95% Add +4.2% 2,825,611 $14.0M
Aquatic Capital Management LLC 0.25% New 2,673,623 $13.2M
Quantbot Technologies LP 0.36% Reduce -5.2% 2,665,940 $13.2M
Swiss National Bank 0.01% Reduce -3.3% 2,454,623 $12.1M
Canada Pension Plan Investment Board 0.01% New 2,312,300 $11.4M
Waratah Capital Advisors Ltd. 0.76% Add +459.1% 2,250,259 $11.1M
U S Global Investors Inc. 1.17% Add +389.1% 2,078,516 $10.3M
Allspring Global Investments Holdings, LLC 0.02% No change 2,076,000 $10.3M
OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.33% Add +15.2% 2,056,154 $10.2M
Merk Investments LLC 3.05% No change 2,000,000 $9.9M
Jump Financial, LLC 0.13% Add +54.9% 1,963,346 $9.7M
BNP Paribas Financial Markets 0.01% Add +51.6% 1,843,445 $9.1M
Forge First Asset Management Inc. 3.80% New 1,652,400 $8.2M
Quadrature Capital Ltd 0.10% Add +138.8% 1,642,000 $8.1M
Toronto Dominion Bank 0.02% Add +162.1% 1,638,717 $8.1M
Geode Capital Management, LLC 0.00% Reduce -52.7% 1,450,759 $7.7M
Janus Henderson Group PLC 0.00% Reduce -3.3% 1,545,587 $7.6M
Mackenzie Financial Corp. 0.01% Reduce -5.1% 1,432,043 $7.1M
CIBC Asset Management Inc 0.02% Add +0.3% 1,261,867 $6.2M
Cibc World Market Inc. 0.01% Add +22.1% 1,241,250 $6.1M
Cantor Fitzgerald, L. P. 0.11% Add +10466.4% 1,143,710 $5.7M
LPL Financial LLC 0.00% Add +3.8% 1,095,398 $5.4M
Man Group plc 0.01% Add +2766.7% 1,074,127 $5.3M
Groupe la Francaise 0.07% Add +28.1% 1,050,000 $5.2M
HRT Financial LP 0.02% Add +617.6% 1,014,706 $5.0M
WINTON GROUP Ltd 0.19% New 1,011,399 $5.0M
Invenomic Capital Management LP 0.26% Add +34.1% 990,484 $4.9M
UBS Group AG 0.00% Reduce -39.8% 893,907 $4.4M
Sprott Inc. 0.16% Reduce -16.2% 868,857 $4.3M
Russell Investments Group, Ltd. 0.00% Add +3.6% 789,744 $3.9M
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.02% Reduce -3.6% 771,788 $3.8M
Qube Research & Technologies Ltd 0.01% Add +2093.4% 723,819 $3.6M
CANADA LIFE ASSURANCE Co 0.01% Reduce -1.7% 706,280 $3.5M
Marshall Wace, LLP 0.00% Reduce -28.2% 698,884 $3.5M
Maryland State Retirement & Pension System 0.07% Reduce -1.9% 689,956 $3.4M
Acadian Asset Management LLC 0.01% Add +10330.3% 688,400 $3.4M
Woodline Partners LP 0.02% New 652,523 $3.2M
Genus Capital Management Inc. 0.37% New 650,040 $3.2M
Wells Fargo & Company 0.00% Reduce -67.1% 618,106 $3.1M
Bank of Nova Scotia 0.01% Add +25.1% 606,395 $3.0M
BlackRock, Inc. 0.00% Reduce -1.9% 599,985 $3.0M
Raymond James Financial Inc. 0.00% Reduce -2.9% 581,629 $2.9M
Prelude Capital Management, LLC 0.22% No change 560,000 $2.8M
Vident Advisory, LLC 0.03% Add +51.3% 539,844 $2.7M
Barclays PLC 0.00% Reduce -54.1% 531,564 $2.6M
Mitsubishi UFJ Trust & Banking Corp 0.01% Reduce -32.5% 507,745 $2.5M
Schonfeld Strategic Advisors LLC 0.02% Reduce -61.9% 491,316 $2.4M
Public Employees Retirement System of Ohio 0.01% Reduce -2.2% 489,523 $2.4M
Simplex Trading, LLC 0.05% Add +109.5% 448,944 $2.2M
Susquehanna Fundamental Investments, LLC 0.08% Add +8.3% 428,100 $2.1M
PKO Investment Management Joint-Stock Co 0.18% Reduce -5.3% 425,000 $2.1M
Macquarie Group Ltd. 0.00% Add +693.0% 400,000 $2.0M
Monaco Asset Management SAM 0.71% Reduce -24.7% 376,398 $1.9M
SIG North Trading, ULC 0.28% Add +0.7% 365,287 $1.8M
Bank of New York Mellon Corp 0.00% Add +87.8% 362,199 $1.8M
Federation des caisses Desjardins du Quebec 0.01% Add +3.6% 361,986 $1.8M
TD Waterhouse Canada Inc. 0.01% Add +564.3% 345,624 $1.7M
Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% No change 349,241 $1.7M
Renaissance Technologies 0.00% Reduce -94.6% 336,898 $1.7M
GMO 0.00% Reduce -47.8% 326,384 $1.6M
DRW Securities, LLC 0.08% New 325,605 $1.6M
De Lisle Partners LLP 0.18% Reduce -25.0% 300,600 $1.5M
Lighthouse Investment Partners, LLC 0.05% Reduce -63.6% 299,209 $1.5M
Harvest Portfolios Group Inc. 0.03% Add +10.0% 294,865 $1.5M
Brevan Howard Capital Management LP 0.02% Add +341.9% 286,844 $1.4M
OMERS ADMINISTRATION Corp 0.01% New 264,500 $1.3M
Campbell & CO Investment Adviser LLC 0.10% New 261,049 $1.3M
Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. 3.16% Add +81.4% 258,500 $1.3M
Balyasny Asset Management L.P. 0.00% Add +123.5% 255,961 $1.3M
Cadence Wealth Management LLC 0.64% Reduce -20.8% 245,988 $1.2M
Pictet Asset Management Holding SA 0.00% Reduce -10.0% 242,473 $1.2M
Versor Investments LP 0.22% New 241,800 $1.2M
Mariner, LLC 0.00% Reduce -21.1% 241,232 $1.2M
Quantinno Capital Management LP 0.00% New 240,135 $1.2M
Wolverine Trading, LLC 0.02% Add +74.4% 225,646 $1.1M
SG Americas Securities, LLC 0.00% Add +3.7% 214,020 $1.1M
Mangrove Partners Im, LLC 0.09% New 213,399 $1.1M
Ashton Thomas Private Wealth, LLC 0.03% Add +2.2% 204,170 $1.0M
Virtu Financial LLC 0.06% Reduce -63.2% 202,224 $1.0M
Hussman Strategic Advisors, Inc. 0.21% Reduce -41.2% 200,000 $990K
Clough Capital Partners L P 0.09% New 194,412 $962K
Squarepoint Ops LLC 0.00% Reduce -18.5% 193,071 $956K
Alliancebernstein L.P. 0.00% Reduce -30.2% 192,729 $954K
Jaffetilchin Investment Partners, LLC 0.06% Add +339.0% 192,557 $953K
Fiscal Wisdom Wealth Management, LLC 0.87% — 176,781 $919K
Centiva Capital, LP 0.08% New 183,024 $906K
Point72 (DIFC) Ltd 0.06% Add +167.8% 175,552 $869K
Profund Advisors LLC 0.03% Add +47.3% 163,211 $808K
Danske Bank A/S 0.00% Add +8492.0% 161,959 $791K
Y-Intercept (Hong Kong) Ltd 0.02% New 156,586 $775K
Financial Sense Advisors, Inc. 0.16% New 155,000 $767K
Cambridge Investment Research Advisors, Inc. 0.00% Add +15.2% 152,101 $752K
Numerai GP LLC 0.10% Add +50.8% 149,774 $741K
Northwest & Ethical Investments L.P. 0.02% Reduce -7.0% 146,530 $724K
Rathbones Group PLC 0.00% Add +28.0% 140,764 $696K
Point72 Asia (Singapore) Pte. Ltd. 0.10% New 135,614 $671K
Burney Co./ 0.02% New 127,530 $631K
Cardinal Point Capital Management ULC 0.04% Reduce -6.3% 126,050 $623K
Creative Planning 0.00% Add +11.6% 125,525 $621K
Scientech Research LLC 0.21% New 122,855 $608K
Two Sigma Securities, LLC 0.09% Add +506.4% 119,969 $594K
Quantessence Capital LLC 0.18% New 116,131 $575K
StoneX Group Inc. 0.03% Add +9.4% 116,028 $574K
Cetera Investment Advisers 0.00% Reduce -1.4% 115,947 $573K
ExodusPoint Capital Management, LP 0.01% New 114,838 $568K
Artisan Partners Limited Partnership 0.00% Reduce -28.0% 110,400 $546K
Rockefeller Capital Management L.P. 0.00% New 106,283 $526K
Aigen Investment Management, LP 0.08% Reduce -11.7% 105,103 $520K
KG Capital Management 0.14% Reduce -22.2% 105,000 $520K
PenderFund Capital Management Ltd. 0.19% New 100,000 $494K
Public Sector Pension Investment Board 0.00% New 98,798 $489K
Sumitomo Mitsui Trust Group, Inc. 0.00% No change 97,810 $484K
Amova Asset Management Americas, Inc. 0.00% No change 97,810 $483K
Causeway Capital Management LLC 0.01% No change 94,491 $467K
First Trust Advisors LP 0.00% Add +1.1% 92,879 $459K
State of Tennessee, Department of Treasury 0.00% New 92,600 $458K
Dynamic Technology Lab Private Ltd 0.07% Add +207.7% 88,794 $440K
JPMorgan Chase & Co. 0.00% Reduce -92.6% 86,742 $429K
IMC-Chicago, LLC 0.01% Reduce -51.5% 84,580 $419K
Stifel Financial Corp. 0.00% Reduce -78.5% 83,345 $413K
Catalyst Funds Management Pty Ltd 0.06% Reduce -76.3% 82,800 $410K
Caption Management, LLC 0.02% Add +170.4% 80,000 $396K
Towarzystwo Funduszy Inwestycyjnych Pzu SA 0.09% Add +21.8% 79,958 $395K
Oxbow Advisors, LLC 0.04% No change 76,485 $379K
US Bancorp \de 0.00% Reduce -0.7% 74,120 $367K
Commonwealth Equity Services, LLC 0.00% Add +2.0% 73,691 $365K
Osaic Holdings, Inc. 0.00% Add +78.0% 81,966 $362K
Engineers Gate Manager LP 0.00% Reduce -30.9% 69,894 $346K
Cidel Asset Management Inc. 0.02% No change 69,000 $341K
Citigroup Inc. 0.00% Reduce -72.9% 67,112 $332K
Boothbay Fund Management, LLC 0.01% New 63,918 $316K
Seelaus Asset Management LLC 0.25% No change 63,675 $315K
Vanguard Personalized Indexing Management, LLC 0.00% Add +3.3% 62,776 $311K
Scotia Capital Inc. 0.00% Reduce -4.2% 60,380 $298K
Swiss Life Asset Management Ltd 0.00% Add +64.0% 57,746 $286K
Vontobel Holding Ltd. 0.00% Reduce -10.1% 57,469 $284K
Generali Investments CEE, investicni spolecnost, a.s. 0.02% Reduce -61.1% 52,485 $260K
Flow Traders U.S. LLC 0.01% Add +50.1% 52,094 $258K
Tower Research Capital LLC (TRC) 0.01% Add +373.6% 52,010 $257K
HSBC Holdings PLC 0.00% Add +10.0% 49,604 $245K
Investment Management Corp of Ontario 0.00% Reduce -38.6% 49,205 $244K
Shelton Capital Management 0.01% Reduce -36.4% 47,245 $234K
Advyzon Investment Management, LLC 0.04% New 46,367 $230K
Bridgewater Associates 0.00% Reduce -36.1% 46,264 $229K
New Republic Capital, LLC 0.06% New 40,000 $198K
R Squared Ltd 0.08% New 38,000 $188K
PharVision Advisers, LLC 0.10% New 36,307 $180K
Intact Investment Management Inc. 0.00% Reduce -98.2% 31,400 $155K
Neuberger Berman Group LLC 0.00% Reduce -7.9% 30,136 $149K
Brave Asset Management Inc. 0.04% No change 30,000 $148K
Envestnet Asset Management Inc. 0.00% Reduce -0.4% 28,908 $143K
Beacon Pointe Advisors, LLC 0.00% New 28,871 $143K
JTC Employer Solutions Trustee Ltd 0.01% No change 25,900 $128K
Sigma Planning Corp 0.00% New 25,700 $127K
Corient Private Wealth LP 0.00% Reduce -66.1% 25,594 $127K
GK Wealth Management LLC 0.09% New 25,509 $126K
Arbiter Partners Capital Management LLC 0.08% No change 25,000 $124K
SBI Securities Co., Ltd. 0.00% Reduce -27.4% 24,196 $120K
Arizona State Retirement System 0.00% New 23,422 $116K
Resolute Wealth Strategies, LLC 0.05% Add +0.0% 22,673 $112K
Kestra Private Wealth Services, LLC 0.00% New 22,396 $111K
Concurrent Investment Advisors, LLC 0.00% Add +0.4% 22,191 $110K
Matrix Private Capital Group LLC 0.06% Add +0.4% 22,106 $109K
Magnus Financial Group LLC 0.01% New 21,790 $108K
Signaturefd, LLC 0.00% Add +41.0% 21,626 $107K
Oppenheimer & Co. Inc. 0.00% New 21,000 $104K
Leonteq Securities AG 0.01% No change 15,053 $103K
Seeds Investor LLC 0.02% Add +31.7% 20,607 $102K
Independent Advisor Alliance 0.00% New 20,404 $101K
Sicart Associates LLC 0.03% No change 20,000 $99K
Centric Wealth Management 0.02% Add +50.0% 22,500 $99K
Tradition Wealth Management, LLC 0.01% No change 19,399 $96K
GTS Securities LLC 0.00% New 19,251 $95K
Quarry LP 0.02% New 19,236 $95K
Shell Asset Management Co. 0.01% Reduce -73.3% 18,922 $94K
Successful Portfolios LLC 0.05% Reduce -7.5% 18,141 $90K
Retirement Income Solutions, Inc. 0.01% No change 17,482 $86K
PFG Investments, LLC 0.00% Add +0.0% 17,307 $86K
Continuum Advisory, LLC 0.01% Reduce -21.2% 16,660 $82K
HighTower Advisors, LLC 0.00% Add +3.1% 16,571 $82K
Jones Financial Companies LLLP 0.00% Add +47.3% 16,061 $79K
Heck Capital Advisors, LLC 0.01% New 15,235 $75K
Stableford Capital II LLC 0.03% No change 15,000 $74K
Mirabella Financial Services LLP 0.01% New 14,944 $74K
Moors & Cabot, Inc. 0.00% No change 14,500 $72K
CoreCommodity Management, LLC 0.01% Reduce -92.2% 14,392 $71K
Sanctuary Advisors, LLC 0.00% Reduce -11.7% 14,296 $71K
Carrera Capital Advisors 0.01% Add +0.0% 13,005 $64K
Ferguson Wellman Capital Management, Inc. 0.00% New 12,728 $63K
Eagle Rock Investment Company, LLC 0.01% New 12,241 $61K
Aventura Private Wealth, LLC 0.02% No change 12,189 $60K
CIBC Private Wealth Group LLC 0.00% Add +138.1% 11,903 $59K
ORG Partners LLC 0.01% Reduce -19.6% 11,502 $57K
Wealth Enhancement Advisory Services, LLC 0.00% New 10,799 $57K
J.W. Cole Advisors, Inc. 0.00% Add +0.1% 11,221 $56K
Walker Asset Management, LLC 0.03% No change 11,200 $55K
Lavaca Capital LLC 0.01% No change 10,700 $53K
Baader Bank Aktiengesellschaft 0.00% New 24,114 $53K
Sagard Holdings Management Inc. 0.26% No change 10,680 $53K
Castle Wealth Management LLC 0.02% No change 10,617 $53K
Wesbanco Bank Inc. 0.00% No change 10,400 $51K
Independent Wealth Network Inc. 0.02% No change 10,000 $50K
E&G Advisors, LLC 0.01% No change 10,000 $50K
HM Payson & Co. 0.00% New 10,000 $50K
Steward Partners Investment Advisory, LLC 0.00% No change 9,750 $48K
Mondrian Investment Partners LTD 0.00% — 6,275 $43K
Compagnie Lombard Odier SCmA 0.00% New 8,000 $40K
GHP Investment Advisors, Inc. 0.00% Add +0.4% 7,587 $38K
International Assets Investment Management, LLC 0.00% No change 10,000 $36K
Blue Trust, Inc. 0.00% No change 6,147 $30K
Webster Bank, N. A. 0.00% No change 5,880 $29K
NewEdge Advisors, LLC 0.00% Reduce -95.5% 5,309 $26K
Pacifica Partners Inc. 0.01% Reduce -33.5% 5,256 $26K
EverSource Wealth Advisors, LLC 0.00% Add +48.9% 5,113 $25K
Harbour Investments, Inc. 0.00% No change 3,760 $19K
Perritt Capital Management Inc 0.01% No change 3,740 $19K
Advisory Services Network, LLC 0.00% New 3,200 $16K
Natixis 0.00% No change 3,163 $16K
Walleye Capital LLC 0.00% New 2,799 $14K
PNC Financial Services Group, Inc. 0.00% New 2,400 $12K
Abound Wealth Management 0.00% Add +0.4% 2,289 $11K
Huntington National Bank 0.00% Add +1.0% 2,020 $10K
West Branch Capital LLC 0.00% No change 1,661 $8K
Caitong International Asset Management Co., Ltd 0.00% Reduce -94.3% 1,434 $7K
Vermillion Wealth Management, Inc. 0.00% No change 1,048 $5K
Allworth Financial LP 0.00% Add +1517.7% 825 $4K
Farther Finance Advisors, LLC 0.00% Add +62.5% 650 $3K
Spire Wealth Management 0.00% Reduce -29.7% 611 $3K
Stone House Investment Management, LLC 0.00% Add +81.3% 580 $3K
AdvisorNet Financial, Inc 0.00% No change 550 $3K
HighMark Wealth Management LLC 0.00% New 419 $2K
Atlantic Union Bankshares Corp 0.00% New 400 $2K
Vermillion & White Wealth Management Group, LLC 0.00% No change 350 $2K
Toth Financial Advisory Corp. 0.00% New 300 $1K
Rossby Financial, LCC 0.00% New 259 $1K
Oakworth Capital, Inc. 0.00% No change 250 $1K
Bell Investment Advisors, Inc 0.00% No change 238 $1K
Roble, Belko & Company, Inc 0.00% New 200 $1K
Mowery & Schoenfeld Wealth Management, LLC 0.00% No change 200 $990
Global Retirement Partners, LLC 0.00% Reduce -95.4% 160 $792
Larson Financial Group LLC 0.00% Reduce -88.8% 112 $554
Rhumbline Advisers 0.00% No change 105 $519
Hager Investment Management Services, LLC 0.00% No change 50 $248
Strategic Advocates LLC 0.00% New 47 $233
Quadrant Capital Group LLC 0.00% New 33 $164
True Wealth Design, LLC 0.00% No change 1 $5

"% of holder's portfolio" is BTG's weight in each manager's 13F, not the share of B2GOLD Corp. the manager owns.