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Sprott Physical Gold and Silver Trust
CEF

186 hedge funds and large institutions have $515M invested in Sprott Physical Gold and Silver Trust in 2019 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 45 increasing their positions, 60 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

88% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 8

3% more funds holding

Funds holding: 180 → 186 (+6)

1.09% more ownership

Funds ownership: 19.38% → 20.47% (+1.1%)

3% less capital invested

Capital invested by funds: $530M → $515M (-$15.1M)

13% less funds holding in top 10

Funds holding in top 10: 8 → 7 (-1)

25% less repeat investments, than reductions

Existing positions increased: 45 | Existing positions reduced: 60

Holders
186
Holders Change
+6
Holders Change %
+3.33%
% of All Funds
4.03%
Holding in Top 10
7
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-12.5%
% of All Funds
0.15%
New
15
Increased
45
Reduced
60
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BFM
Boothbay Fund Management
New York
+$21.7M
2
WAM
Weiss Asset Management
Massachusetts
+$21.4M
3
CTC
Central Trust Company
Missouri
+$1.93M
4
FC
Fore Capital
New York
+$893K
5
MAP
Managed Asset Portfolios
Michigan
+$887K

Top Sellers

Rank Fund Capital Flow
1
CL
CSS LLC
Illinois
-$12.3M
2
HighTower Advisors
HighTower Advisors
Illinois
-$9.81M
3
AGM
Alpine Global Management
New York
-$7.62M
4
NWM
Nicola Wealth Management
British Columbia, Canada
-$6.16M
5
SI
Sprott Inc
Ontario, Canada
-$4.93M
Name Holding Trade Value Shares
Change 		Change in
Stake
RJFSA
26
Raymond James Financial Services Advisors
Florida
$5.49M -$997K -78,170 -15%
MA
27
Mutual Advisors
Nebraska
$3.96M +$405K +31,790 +11%
CC
28
Cannell & Co
New York
$3.94M – – –
UBS Group
29
UBS Group
Switzerland
$3.56M +$169K +13,242 +5%
HCM
30
Hollencrest Capital Management
California
$3.38M – – –
Cohen & Steers
31
Cohen & Steers
New York
$3.38M -$853K -66,886 -20%
LTFS
32
Ladenburg Thalmann Financial Services
Florida
$3.33M +$85.3K +6,686 +3%
OC
33
Oppenheimer & Co
New York
$3.13M +$76.5K +6,000 +2%
BA
34
Bennicas & Associates
California
$2.99M -$6.38K -500 -0.2%
MHS
35
M Holdings Securities
Oregon
$2.91M -$742K -58,157 -20%
TC
36
Telemus Capital
Michigan
$2.87M -$65.3K -5,122 -2%
PFM
37
Peak Financial Management
Massachusetts
$2.78M – – –
CAN
38
Cetera Advisor Networks
California
$2.6M +$120K +9,423 +5%
Commonwealth Equity Services
39
Commonwealth Equity Services
Massachusetts
$2.48M +$72.3K +5,670 +3%
Stifel Financial
40
Stifel Financial
Missouri
$2.4M -$38.7K -3,037 -2%
CIBC World Market
41
CIBC World Market
Ontario, Canada
$2.4M +$234K +18,360 +10%
PAG
42
Private Advisor Group
New Jersey
$2.39M +$294K +23,061 +14%
MCM
43
Marathon Capital Management
Maryland
$2.38M -$37K -2,900 -1%
BTS
44
BB&T Securities
Virginia
$2.35M -$169K -13,282 -7%
Ameriprise
45
Ameriprise
Minnesota
$2.25M -$1.3M -101,612 -36%
Cambridge Investment Research Advisors
46
Cambridge Investment Research Advisors
Iowa
$2.19M -$142K -11,115 -6%
CCA
47
Catalyst Capital Advisors
New York
$1.77M +$287K +22,500 +19%
CA
48
Cetera Advisors
Colorado
$1.6M -$90.8K -7,118 -5%
FDCDDQ
49
Federation des caisses Desjardins du Quebec
Quebec, Canada
$1.57M -$34.6K -2,711 -2%
GI
50
Glovista Investments
New Jersey
$1.54M +$14K +1,100 +0.9%
1
2
3 4 5

CEF Hedge Fund Activity: Q1 2019 in Review

186 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q1 2019, worth a combined $515M — down 2.8% from $530M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new CEF positions and 8 closed out — a net gain of 7 holders — while 45 added to existing stakes and 60 trimmed.

The largest buyer was Boothbay Fund Management, adding an estimated $21.7M. The largest seller was CSS LLC, exiting entirely with an estimated $12.3M sold.

  • 186 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q1 2019, up from 180 in Q4 2018.
  • Funds reported $515M of Sprott Physical Gold and Silver Trust stock for Q1 2019, down 2.8% quarter-over-quarter.
  • 15 funds opened new Sprott Physical Gold and Silver Trust positions in Q1 2019 and 8 closed out, a net change of +7 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q1 2019 was Boothbay Fund Management, an estimated $21.7M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q1 2019 was CSS LLC, an estimated $12.3M sold.

Based on aggregated 13F filings for Q1 2019.