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Sprott Physical Gold and Silver Trust
CEF

294 hedge funds and large institutions have $1.42B invested in Sprott Physical Gold and Silver Trust in 2023 Q4 according to their latest regulatory filings, with 29 funds opening new positions, 70 increasing their positions, 96 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

26% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 23

9% more capital invested

Capital invested by funds: $1.3B → $1.42B (+$114M)

2.01% more ownership

Funds ownership: 32.9% → 34.91% (+2%)

2% more funds holding

Funds holding: 289 → 294 (+5)

13% less funds holding in top 10

Funds holding in top 10: 16 → 14 (-2)

27% less repeat investments, than reductions

Existing positions increased: 70 | Existing positions reduced: 96

Holders
294
Holders Change
+5
Holders Change %
+1.73%
% of All Funds
4.29%
Holding in Top 10
14
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-12.5%
% of All Funds
0.2%
New
29
Increased
70
Reduced
96
Closed
23
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$55.8M
2
BCM
Bluefin Capital Management
New York
+$39.6M
3
Ameriprise
Ameriprise
Minnesota
+$11.5M
4
Jane Street
Jane Street
New York
+$6.2M
5
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
+$4.65M

Top Sellers

1
PI
PFG Investments
New York
-$8.76M
2
MGWM
Marks Group Wealth Management
Minnesota
-$6.41M
3
JAM
Jupiter Asset Management
United Kingdom
-$6.2M
4
HHGC
Hunting Hill Global Capital
New York
-$4.87M
5
PCM
PenderFund Capital Management
British Columbia, Canada
-$4.71M
Name Holding Trade Value Shares
Change 		Change in
Stake
IGWM
276
ICA Group Wealth Management
Colorado
$10.7K +$10.3K +557 New
SIS
277
Sound Income Strategies
Florida
$10.5K – – –
PS
278
Principal Securities
Iowa
$9.57K +$9.22K +500 New
JFGIW
279
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$9.25K – – –
TCM
280
Tradewinds Capital Management
Washington
$7.81K +$7.52K +408 New
EWM
281
Evermay Wealth Management
Virginia
$7.66K – – –
TRCT
282
Tower Research Capital (TRC)
New York
$7.24K – – –
RWPA
283
Richard W. Paul & Associates
Michigan
$5.69K – – –
BTI
284
Blue Trust Inc
Georgia
$5K – – –
JFG
285
JDM Financial Group
Texas
$4.41K – – –
WIM
286
Westside Investment Management
California
$3.83K – – –
RG
287
Retirement Group
California
$3.71K – – –
RA
288
Rise Advisors
New York
$3.35K – – –
LC
289
Lindbrook Capital
California
$2.39K – – –
BC
290
Barrett & Company
Rhode Island
$1.99K – – –
CA
291
Clearstead Advisors
Ohio
$1.46K -$1.4K -76 -50%
TH
292
TCTC Holdings
Texas
$1.26K – – –
ME
293
McIlrath & Eck
Washington
$1.25K – – –
BCMLT
294
Beacon Capital Management LLC (Tennessee)
Tennessee
$1.04K – – –
LFG
295
Larson Financial Group
Missouri
$804 +$774 +42 New
PI
296
PFG Investments
New York
– -$8.76M -505,908 Closed
HHGC
297
Hunting Hill Global Capital
New York
– -$4.87M -281,051 Closed
PP
298
Paloma Partners
Connecticut
– -$3.46M -200,000 Closed
PCM
299
PenderFund Capital Management
British Columbia, Canada
– -$4.71M -200,000 Closed
FC
300
Fore Capital
New York
– -$1.56M -90,000 Closed
9 10 11
12
13

CEF Hedge Fund Activity: Q4 2023 in Review

294 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2023, worth a combined $1.42B — up 8.7% from $1.3B a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new CEF positions and 23 closed out — a net gain of 6 holders — while 70 added to existing stakes and 96 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $55.8M. The largest seller was PFG Investments, exiting entirely with an estimated $8.76M sold.

  • 294 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q4 2023, up from 289 in Q3 2023.
  • Funds reported $1.42B of Sprott Physical Gold and Silver Trust stock for Q4 2023, up 8.7% quarter-over-quarter.
  • 29 funds opened new Sprott Physical Gold and Silver Trust positions in Q4 2023 and 23 closed out, a net change of +6 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q4 2023 was Morgan Stanley, an estimated $55.8M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q4 2023 was PFG Investments, an estimated $8.76M sold.

Based on aggregated 13F filings for Q4 2023.