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Sprott Physical Gold and Silver Trust
CEF

194 hedge funds and large institutions have $549M invested in Sprott Physical Gold and Silver Trust in 2019 Q4 according to their latest regulatory filings, with 29 funds opening new positions, 51 increasing their positions, 55 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

142% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 12

13% more funds holding in top 10

Funds holding in top 10: 8 → 9 (+1)

7% more funds holding

Funds holding: 181 → 194 (+13)

6% more capital invested

Capital invested by funds: $517M → $549M (+$31.9M)

1.37% more ownership

Funds ownership: 18.05% → 19.42% (+1.4%)

7% less repeat investments, than reductions

Existing positions increased: 51 | Existing positions reduced: 55

Holders
194
Holders Change
+13
Holders Change %
+7.18%
% of All Funds
3.82%
Holding in Top 10
9
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+12.5%
% of All Funds
0.18%
New
29
Increased
51
Reduced
55
Closed
12
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
ECM
Evergreen Capital Management
Washington
+$16.3M
2
BFM
Boothbay Fund Management
New York
+$12.8M
3
OFG
OTA Financial Group
New York
+$8.24M
4
FC
Fore Capital
New York
+$5.87M
5
HHGC
Hunting Hill Global Capital
New York
+$5.04M

Top Sellers

Rank Fund Capital Flow
1
AGM
Alpine Global Management
New York
-$15.2M
2
Cohen & Steers
Cohen & Steers
New York
-$14.4M
3
EAM
Evanson Asset Management
California
-$6.91M
4
PAG
Private Advisor Group
New Jersey
-$5.78M
5
MA
Mutual Advisors
Nebraska
-$5.05M
Name Holding Trade Value Shares
Change 		Change in
Stake
FC
26
Fore Capital
New York
$7.04M +$5.87M +410,000 +586%
PHS
27
Pekin Hardy Strauss
Illinois
$6.4M +$3.44K +240 +0.1%
CC
28
Cannell & Co
New York
$5.65M – – –
LTFS
29
Ladenburg Thalmann Financial Services
Florida
$5.23M +$340K +23,769 +7%
Ameriprise
30
Ameriprise
Minnesota
$5.01M +$31.4K +2,192 +0.6%
Mercer Global Advisors
31
Mercer Global Advisors
Colorado
$4.86M +$4.53M +316,573 +2,128%
Commonwealth Equity Services
32
Commonwealth Equity Services
Massachusetts
$4.28M +$533K +37,237 +15%
HCM
33
Hollencrest Capital Management
California
$4.18M +$179K +12,500 +5%
BCM
34
Bourgeon Capital Management
Connecticut
$4.17M -$5.01K -350 -0.1%
QP
35
Quilter Plc
United Kingdom
$4.12M +$4.03M +281,346 New
UBS Group
36
UBS Group
Switzerland
$3.92M -$13.9K -973 -0.4%
BA
37
Bennicas & Associates
California
$3.81M +$249K +17,410 +7%
CIBC World Market
38
CIBC World Market
Ontario, Canada
$3.69M +$180K +12,578 +5%
SCM
39
Southport Capital Management
Tennessee
$3.37M -$71.3K -4,977 -2%
CAN
40
Cetera Advisor Networks
California
$2.96M -$55.9K -3,905 -2%
Stifel Financial
41
Stifel Financial
Missouri
$2.7M -$71.7K -5,008 -3%
CWA
42
Capital Wealth Alliance
Arizona
$2.57M +$2.39M +166,739 New
CCA
43
Catalyst Capital Advisors
New York
$2.46M +$115K +8,000 +5%
VDBMI
44
Van Den Berg Management I
Texas
$2.39M – – –
Truist Financial
45
Truist Financial
North Carolina
$2.29M +$2.24M +156,235 New
RGC
46
Roberts, Glore & Co
Illinois
$2.24M +$822K +57,375 +60%
Cambridge Investment Research Advisors
47
Cambridge Investment Research Advisors
Iowa
$1.95M -$810K -56,535 -30%
RJFSA
48
Raymond James Financial Services Advisors
Florida
$1.9M -$1.88M -131,406 -50%
FTI
49
Fiduciary Trust International
Massachusetts
$1.73M +$573K +40,000 +51%
PFM
50
Peak Financial Management
Massachusetts
$1.68M -$1.64M -114,340 -50%
1
2
3 4 5

CEF Hedge Fund Activity: Q4 2019 in Review

194 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2019, worth a combined $549M — up 6.2% from $517M a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new CEF positions and 12 closed out — a net gain of 17 holders — while 51 added to existing stakes and 55 trimmed.

The largest buyer was Evergreen Capital Management, adding an estimated $16.3M. The largest seller was Alpine Global Management, exiting entirely with an estimated $15.2M sold.

  • 194 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q4 2019, up from 181 in Q3 2019.
  • Funds reported $549M of Sprott Physical Gold and Silver Trust stock for Q4 2019, up 6.2% quarter-over-quarter.
  • 29 funds opened new Sprott Physical Gold and Silver Trust positions in Q4 2019 and 12 closed out, a net change of +17 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q4 2019 was Evergreen Capital Management, an estimated $16.3M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q4 2019 was Alpine Global Management, an estimated $15.2M sold.

Based on aggregated 13F filings for Q4 2019.