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Sprott Physical Gold and Silver Trust
CEF

405 hedge funds and large institutions have $2.13B invested in Sprott Physical Gold and Silver Trust in 2025 Q3 according to their latest regulatory filings, with 52 funds opening new positions, 107 increasing their positions, 105 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

174% more first-time investments, than exits

New positions opened: 52 | Existing positions closed: 19

25% more capital invested

Capital invested by funds: $1.7B → $2.13B (+$424M)

18% more funds holding in top 10

Funds holding in top 10: 11 → 13 (+2)

7% more funds holding

Funds holding: 377 → 405 (+28)

2% more repeat investments, than reductions

Existing positions increased: 107 | Existing positions reduced: 105

0.95% more ownership

Funds ownership: 29.09% → 30.04% (+0.95%)

Holders
405
Holders Change
+28
Holders Change %
+7.43%
% of All Funds
5.32%
Holding in Top 10
13
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+18.18%
% of All Funds
0.17%
New
52
Increased
107
Reduced
105
Closed
19
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$36M
2
JAM
Jupiter Asset Management
United Kingdom
+$26.1M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$10.8M
4
LPL Financial
LPL Financial
California
+$6.06M
5
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
+$5.43M

Top Sellers

1
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$19.3M
2
3AM
3EDGE Asset Management
Florida
-$17.6M
3
IAIM
International Assets Investment Management
Florida
-$5.32M
4
GS
GWN Securities
Florida
-$4.46M
5
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$4.03M
Name Holding Trade Value Shares
Change 		Change in
Stake
LA
226
Latitude Advisors
Florida
$439K +$48.5K +1,511 +14%
MCI
227
MRP Capital Investments
Georgia
$435K -$57.8K -1,800 -11%
CW
228
CreativeOne Wealth
Kansas
$429K -$9.64K -300 -3%
MWM
229
Mission Wealth Management
California
$424K +$3.21K +100 +0.9%
TWM
230
TCFG Wealth Management
California
$423K -$549K -17,100 -60%
NSAM
231
North Star Asset Management
Wisconsin
$422K – – –
M&T Bank
232
M&T Bank
New York
$414K +$128K +3,986 +55%
CNB
233
Camden National Bank
Maine
$410K -$2.41K -75 -0.7%
SAM
234
Stansberry Asset Management
Texas
$408K +$127K +3,963 +55%
YIA
235
YHB Investment Advisors
Connecticut
$407K – – –
Focus Partners Wealth
236
Focus Partners Wealth
Massachusetts
$407K +$355K +11,040 New
CFS
237
Cannon Financial Strategists
Georgia
$404K – – –
CWG
238
Crown Wealth Group
North Carolina
$401K -$9.45K -294 -3%
PCIA
239
Prime Capital Investment Advisors
Kansas
$400K – – –
IA
240
IFG Advisory
Georgia
$400K – – –
NWM
241
Northwest Wealth Management
Iowa
$393K – – –
DADC
242
D.A. Davidson & Co
Montana
$392K +$27.3K +850 +9%
Rockefeller Capital Management
243
Rockefeller Capital Management
New York
$391K -$220K -6,862 -39%
RCYC
244
Richard C. Young & Co
Rhode Island
$390K – – –
IAP
245
Indie Asset Partners
Indiana
$388K – – –
IWN
246
Independent Wealth Network
Iowa
$381K -$7.33K -228 -2%
Lido Advisors
247
Lido Advisors
California
$374K +$327K +10,185 New
PCM
248
Parsons Capital Management
Rhode Island
$367K – – –
SB
249
Simmons Bank
Arkansas
$366K -$19.3K -600 -6%
FW
250
Fairway Wealth
Ohio
$352K – – –
8 9
10
11 12

CEF Hedge Fund Activity: Q3 2025 in Review

405 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q3 2025, worth a combined $2.13B — up 25% from $1.7B a quarter earlier.

Buyers outnumbered sellers: 52 funds opened new CEF positions and 19 closed out — a net gain of 33 holders — while 107 added to existing stakes and 105 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $36M. The largest seller was Parallax Volatility Advisers, exiting entirely with an estimated $19.3M sold.

  • 405 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q3 2025, up from 377 in Q2 2025.
  • Funds reported $2.13B of Sprott Physical Gold and Silver Trust stock for Q3 2025, up 25% quarter-over-quarter.
  • 52 funds opened new Sprott Physical Gold and Silver Trust positions in Q3 2025 and 19 closed out, a net change of +33 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q3 2025 was Morgan Stanley, an estimated $36M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q3 2025 was Parallax Volatility Advisers, an estimated $19.3M sold.

Based on aggregated 13F filings for Q3 2025.