Sprott Physical Gold and Silver Trust
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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$25.5M |
| 2 |
JAM
Jupiter Asset Management
London,
United Kingdom
|
+$10.5M |
| 3 |
GS
GWN Securities
Palm Beach Gardens,
Florida
|
+$6.32M |
| 4 |
IAIM
International Assets Investment Management
Orlando,
Florida
|
+$6.17M |
| 5 |
TIAA Trust, National Association
Charlotte,
North Carolina
|
+$5.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DFG
Demars Financial Group
Spokane Valley,
Washington
|
-$68.3M |
| 2 |
Parallax Volatility Advisers
San Francisco,
California
|
-$40.3M |
| 3 |
BCM
Bluefin Capital Management
New York
|
-$36.5M |
| 4 |
BFG
Bleakley Financial Group
Fairfield,
New Jersey
|
-$10.5M |
| 5 |
PJWM
Philip James Wealth Mangement
Milton,
Georgia
|
-$7.39M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
401
Fidelity Investments
Boston,
Massachusetts
| – | -$682 | -24 | Closed |
|
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.