State Street pares down stake in Pilbara Minerals

State Street Corporation and its subsidiaries decreased their substantial holding in Pilbara Minerals Limited from 9.66% to 8.60% of ordinary shares. This change, which occurred on December 1, 2025, reflects a reduction in voting power from 310,780,687 to 276,938,694 votes.

The adjustments included various lending activities, with significant changes recorded in both "Lend - for stock lend" and "Collateral received" transactions throughout August, September, October, and November 2025. For example, large decreases in stock lending were observed on August 6, 2025, with a reduction of -2,627,383 and -2,107,330 ordinary shares. Collateral movements also varied, showing both large receipts and reductions, with a notable reduction of -9,223,160 ordinary shares in collateral received on August 7, 2025.

Similarly, significant changes continued into October and November, with substantial reductions in lent shares, such as -4,733,700 ordinary shares on November 17, 2025, and -6,840,685 ordinary shares on December 1, 2025. These movements indicate a strategic rebalancing of State Street's investment in Pilbara Minerals, primarily through securities lending arrangements and collateral adjustments.