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Sprott Physical Gold and Silver Trust
CEF

377 hedge funds and large institutions have $1.7B invested in Sprott Physical Gold and Silver Trust in 2025 Q2 according to their latest regulatory filings, with 40 funds opening new positions, 83 increasing their positions, 117 reducing their positions, and 24 closing their positions.

New
Increased
Maintained
Reduced
Closed

67% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 24

4% more funds holding

Funds holding: 363 → 377 (+14)

2% less capital invested

Capital invested by funds: $1.74B → $1.7B (-$33.8M)

1.77% less ownership

Funds ownership: 30.86% → 29.09% (-1.8%)

21% less funds holding in top 10

Funds holding in top 10: 14 → 11 (-3)

29% less repeat investments, than reductions

Existing positions increased: 83 | Existing positions reduced: 117

Holders
377
Holders Change
+14
Holders Change %
+3.86%
% of All Funds
4.96%
Holding in Top 10
11
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-21.43%
% of All Funds
0.14%
New
40
Increased
83
Reduced
117
Closed
24
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$25.5M
2
JAM
Jupiter Asset Management
United Kingdom
+$10.5M
3
GS
GWN Securities
Florida
+$6.32M
4
IAIM
International Assets Investment Management
Florida
+$6.17M
5
TIAA Trust, National Association
TIAA Trust, National Association
North Carolina
+$5.75M

Top Sellers

Rank Fund Capital Flow
1
DFG
Demars Financial Group
Washington
-$68.3M
2
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$40.3M
3
BCM
Bluefin Capital Management
New York
-$36.5M
4
BFG
Bleakley Financial Group
New Jersey
-$10.5M
5
PJWM
Philip James Wealth Mangement
Georgia
-$7.39M
Name Holding Trade Value Shares
Change 		Change in
Stake
DADC
251
D.A. Davidson & Co
Montana
$296K -$634K -21,670 -69%
CB
252
Commerce Bank
Missouri
$293K – – –
FW
253
Fairway Wealth
Ohio
$289K – – –
AF
254
Advisornet Financial
Minnesota
$287K – – –
USCWA
255
U.S. Capital Wealth Advisors
Texas
$285K +$848 +29 +0.3%
PWP
256
Principle Wealth Partners
Connecticut
$284K – – –
SBWIC
257
Schaper Benz & Wise Investment Counsel
Wisconsin
$281K – – –
BAAM
258
Baker Avenue Asset Management
California
$279K – – –
IAS
259
Insigneo Advisory Services
Florida
$277K – – –
CAM
260
Covenant Asset Management
New Jersey
$275K – – –
KeyBank National Association
261
KeyBank National Association
Ohio
$265K – – –
TCOT
262
Trust Company of Toledo
Ohio
$265K +$258K +8,814 New
ACMA
263
Arbor Capital Management (Alaska)
Alaska
$264K – – –
KAM
264
Knightsbridge Asset Management
California
$260K – – –
CWS
265
Confluence Wealth Services
Pennsylvania
$258K – – –
ACA
266
Aptus Capital Advisors
Alabama
$255K +$248K +8,474 New
GWANC
267
Guardian Wealth Advisors (North Carolina)
North Carolina
$255K +$248K +8,474 New
NCMW
268
Northern Capital Management (Washington)
Washington
$252K – – –
RFA
269
Resurgent Financial Advisors
Georgia
$247K -$23.4K -800 -9%
DWP
270
Daymark Wealth Partners
Ohio
$246K – – –
PWM
271
Perigon Wealth Management
California
$246K – – –
PCMN
272
Paradigm Capital Management (Nevada)
Nevada
$245K – – –
IAMOG
273
Investors Asset Management of Georgia
Georgia
$243K -$4.39K -150 -2%
FCH
274
Freestone Capital Holdings
Washington
$242K +$14.6K +500 +7%
RVM
275
Robinson Value Management
Texas
$240K – – –
9 10
11
12 13

CEF Hedge Fund Activity: Q2 2025 in Review

377 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q2 2025, worth a combined $1.7B — down 1.9% from $1.74B a quarter earlier.

Buyers outnumbered sellers: 40 funds opened new CEF positions and 24 closed out — a net gain of 16 holders — while 83 added to existing stakes and 117 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $25.5M. The largest seller was Demars Financial Group, cutting an estimated $68.3M.

  • 377 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q2 2025, up from 363 in Q1 2025.
  • Funds reported $1.7B of Sprott Physical Gold and Silver Trust stock for Q2 2025, down 1.9% quarter-over-quarter.
  • 40 funds opened new Sprott Physical Gold and Silver Trust positions in Q2 2025 and 24 closed out, a net change of +16 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q2 2025 was Morgan Stanley, an estimated $25.5M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q2 2025 was Demars Financial Group, an estimated $68.3M sold.

Based on aggregated 13F filings for Q2 2025.