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Sprott Physical Gold and Silver Trust
CEF

187 hedge funds and large institutions have $746M invested in Sprott Physical Gold and Silver Trust in 2018 Q1 according to their latest regulatory filings, with 39 funds opening new positions, 41 increasing their positions, 52 reducing their positions, and 28 closing their positions.

New
Increased
Maintained
Reduced
Closed

39% more first-time investments, than exits

New positions opened: 39 | Existing positions closed: 28

10% more funds holding in top 10

Funds holding in top 10: 10 → 11 (+1)

6% more funds holding

Funds holding: 176 → 187 (+11)

3% more capital invested

Capital invested by funds: $723M → $746M (+$23.3M)

0.64% more ownership

Funds ownership: 21.34% → 21.98% (+0.64%)

21% less repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 52

Holders
187
Holders Change
+11
Holders Change %
+6.25%
% of All Funds
4.29%
Holding in Top 10
11
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+10%
% of All Funds
0.25%
New
39
Increased
41
Reduced
52
Closed
28
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PAMP
Polar Asset Management Partners
Ontario, Canada
+$30.3M
2
WAM
Weiss Asset Management
Massachusetts
+$25.2M
3
AP
Antipodes Partners
Australia
+$21.7M
4
Neuberger Berman Group
Neuberger Berman Group
New York
+$12M
5
CI
Cowen Inc
New York
+$10.6M

Top Sellers

Rank Fund Capital Flow
1
CTC
Central Trust Company
Missouri
-$28M
2
OTC
Opera Trading Capital
France
-$26.3M
3
SI
Sprott Inc
Ontario, Canada
-$21.3M
4
Citigroup
Citigroup
New York
-$12.3M
5
FDCDDQ
Federation des caisses Desjardins du Quebec
Quebec, Canada
-$9.55M
Name Holding Trade Value Shares
Change 		Change in
Stake
CL
26
CSS LLC
Illinois
$6.06M +$1.6M +119,400 +35%
HCM
27
Howland Capital Management
Massachusetts
$5.93M +$2.77M +207,223 +86%
KPF
28
K2 Principal Fund
Ontario, Canada
$4.48M -$121K -9,081 -3%
UBS Group
29
UBS Group
Switzerland
$4.41M +$299K +22,348 +7%
NWM
30
Nicola Wealth Management
British Columbia, Canada
$4.29M +$4.34M +325,000 New
CC
31
Cannell & Co
New York
$4.21M – – –
MHS
32
M Holdings Securities
Oregon
$3.96M +$160K +11,959 +4%
LTFS
33
Ladenburg Thalmann Financial Services
Florida
$3.86M +$574K +42,950 +17%
MA
34
Mutual Advisors
Nebraska
$3.83M +$3.87M +289,630 New
SC
35
Scotia Capital
Ontario, Canada
$3.66M +$66.1K +4,945 +2%
OC
36
Oppenheimer & Co
New York
$3.62M -$65.3K -4,887 -2%
HCM
37
Hollencrest Capital Management
California
$3.6M – – –
BA
38
Bennicas & Associates
California
$3.18M -$26.7K -2,000 -0.8%
BTS
39
BB&T Securities
Virginia
$3.05M +$3.09M +230,896 New
Stifel Financial
40
Stifel Financial
Missouri
$2.95M +$129K +9,665 +5%
LPL Financial
41
LPL Financial
California
$2.76M +$210K +15,721 +8%
MCM
42
Marathon Capital Management
Maryland
$2.65M +$4.34K +325 +0.2%
GIM
43
Greylin Investment Management
Virginia
$2.6M -$68.2K -5,100 -3%
Cambridge Investment Research Advisors
44
Cambridge Investment Research Advisors
Iowa
$2.57M -$605K -45,263 -19%
Commonwealth Equity Services
45
Commonwealth Equity Services
Massachusetts
$2.52M -$228K -17,054 -8%
Fiera Capital (Canada)
46
Fiera Capital (Canada)
Quebec, Canada
$2.17M – – –
OC
47
Oppenheimer & Close
New York
$1.95M – – –
GI
48
Glovista Investments
New Jersey
$1.9M +$1.92M +143,350 New
Ameriprise
49
Ameriprise
Minnesota
$1.75M -$282K -21,133 -14%
BIA
50
Barry Investment Advisors
Massachusetts
$1.74M -$77.2K -5,776 -4%
1
2
3 4 5

CEF Hedge Fund Activity: Q1 2018 in Review

187 of the 4,363 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q1 2018, worth a combined $746M — up 3.2% from $723M a quarter earlier.

Buyers outnumbered sellers: 39 funds opened new CEF positions and 28 closed out — a net gain of 11 holders — while 41 added to existing stakes and 52 trimmed.

The largest buyer was Polar Asset Management Partners, adding an estimated $30.3M. The largest seller was Central Trust Company, exiting entirely with an estimated $28M sold.

  • 187 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q1 2018, up from 176 in Q4 2017.
  • Funds reported $746M of Sprott Physical Gold and Silver Trust stock for Q1 2018, up 3.2% quarter-over-quarter.
  • 39 funds opened new Sprott Physical Gold and Silver Trust positions in Q1 2018 and 28 closed out, a net change of +11 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q1 2018 was Polar Asset Management Partners, an estimated $30.3M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q1 2018 was Central Trust Company, an estimated $28M sold.

Based on aggregated 13F filings for Q1 2018.