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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
PWC
26
PYA Waltman Capital
Tennessee
$11.4M +$3.8K +206 +0%
BFA
27
Beaumont Financial Advisors
Massachusetts
$10.9M +$79.9K +4,334 +0.8%
PAMP
28
Polar Asset Management Partners
Ontario, Canada
$10.8M – – –
CC
29
Cannell & Co
New York
$9.16M – – –
PHS
30
Pekin Hardy Strauss
Illinois
$9.14M -$130K -7,075 -1%
Cambridge Investment Research Advisors
31
Cambridge Investment Research Advisors
Iowa
$8.76M +$4.65M +252,219 +123%
Cohen & Steers
32
Cohen & Steers
New York
$8.66M +$369K +20,000 +5%
Neuberger Berman Group
33
Neuberger Berman Group
New York
$8.1M -$214K -11,617 -3%
National Bank of Canada
34
National Bank of Canada
Quebec, Canada
$7.59M -$3.53M -191,444 -32%
NHFG
35
New Harbor Financial Group
Massachusetts
$7.33M -$348K -18,895 -5%
CIBC World Market
36
CIBC World Market
Ontario, Canada
$7.2M +$311K +16,866 +5%
EPAM
37
Euro Pacific Asset Management
Puerto Rico
$6.89M +$44K +2,387 +0.7%
Commonwealth Equity Services
38
Commonwealth Equity Services
Massachusetts
$6.35M -$375K -20,333 -6%
CWM
39
Cadence Wealth Management
Massachusetts
$6.02M -$246K -13,365 -4%
HCM
40
Hollencrest Capital Management
California
$6M – – –
RJFSA
41
Raymond James Financial Services Advisors
Florida
$5.02M -$286K -15,504 -6%
SC
42
Sapient Capital
Indiana
$4.85M +$4.67M +253,409 New
KAS
43
Kestra Advisory Services
Texas
$4.84M +$297K +16,121 +7%
TIAA Trust, National Association
44
TIAA Trust, National Association
North Carolina
$4.73M +$2.47M +133,734 +118%
NW
45
NewEdge Wealth
Pennsylvania
$4.55M – – –
BPA
46
Beacon Pointe Advisors
California
$4.38M -$225K -12,196 -5%
LFAS
47
Level Four Advisory Services
Texas
$4.36M +$581K +31,530 +16%
HighTower Advisors
48
HighTower Advisors
Illinois
$4.35M +$1.99M +108,008 +91%
ICM
49
Intrepid Capital Management
Florida
$4.34M +$314K +17,010 +8%
CAN
50
Cetera Advisor Networks
California
$4.19M -$74 -4 -0%
1
2
3 4 5

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.