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Sprott Physical Gold and Silver Trust
CEF

172 hedge funds and large institutions have $93.2B invested in Sprott Physical Gold and Silver Trust in 2016 Q2 according to their latest regulatory filings, with 17 funds opening new positions, 47 increasing their positions, 55 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

10% more capital invested

Capital invested by funds: $84.9B → $93.2B (+$8.28B)

2% less funds holding

Funds holding: 176 → 172 (-4)

2.41% less ownership

Funds ownership: 19.89% → 17.48% (-2.4%)

15% less repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 55

15% less first-time investments, than exits

New positions opened: 17 | Existing positions closed: 20

25% less funds holding in top 10

Funds holding in top 10: 12 → 9 (-3)

Holders
172
Holders Change
-4
Holders Change %
-2.27%
% of All Funds
4.59%
Holding in Top 10
9
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-25%
% of All Funds
0.24%
New
17
Increased
47
Reduced
55
Closed
20
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Wellington Management Group
Wellington Management Group
Massachusetts
+$28.4M
2
SI
Sprott Inc
Ontario, Canada
+$20.5M
3
CTC
Central Trust Company
Missouri
+$3.56M
4
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
+$3.37M
5
CIBC Asset Management
CIBC Asset Management
Ontario, Canada
+$3.3M

Top Sellers

1
Capstone Investment Advisors
Capstone Investment Advisors
New York
-$38.7M
2
PAMP
Polar Asset Management Partners
Ontario, Canada
-$17.9M
3
LCM
Landscape Capital Management
New Jersey
-$15.4M
4
Morgan Stanley
Morgan Stanley
New York
-$15M
5
AGM
Alpine Global Management
New York
-$9.73M
Name Holding Trade Value Shares
Change 		Change in
Stake
Commonwealth Equity Services
51
Commonwealth Equity Services
Massachusetts
$2.16M +$449K +34,848 +29%
Stifel Financial
52
Stifel Financial
Missouri
$2.14M -$1.81M -140,586 -48%
OC
53
Oppenheimer & Close
New York
$2.11M – – –
HCM
54
Howland Capital Management
Massachusetts
$1.82M -$22.8K -1,770 -1%
Ameriprise
55
Ameriprise
Minnesota
$1.82M -$607K -47,157 -26%
MFS
56
MSI Financial Services
Massachusetts
$1.77M +$229K +17,759 +16%
CIC
57
Chase Investment Counsel
Virginia
$1.75M -$2.32K -180 -0.1%
WA
58
WFG Advisors
Texas
$1.7M +$768K +59,632 +95%
AFM
59
Anson Funds Management
Texas
$1.67M – – –
BUB
60
BBVA USA Bancshares
Texas
$1.59M – – –
BFA
61
Bragg Financial Advisors
North Carolina
$1.56M +$6.76K +525 +0.5%
Envestnet Asset Management
62
Envestnet Asset Management
Illinois
$1.51M -$16.7K -1,300 -1%
Goldman Sachs
63
Goldman Sachs
New York
$1.39M – – –
Fiera Capital (Canada)
64
Fiera Capital (Canada)
Quebec, Canada
$1.38M +$92.7K +7,200 +8%
SWP
65
Stratos Wealth Partners
Ohio
$1.36M +$105K +8,141 +9%
JMPWA
66
JP Morgan Private Wealth Advisors
California
$1.29M +$1.2M +93,048 New
BSWMG
67
Barrington Strategic Wealth Management Group
Illinois
$1.19M +$92.4K +7,180 +9%
MHS
68
M Holdings Securities
Oregon
$1.14M +$1.06M +82,203 New
CDH
69
Charles D. Hyman
$1.13M -$63.7K -4,950 -6%
MCM
70
Marathon Capital Management
Maryland
$1.06M +$985K +76,500 New
LTFS
71
Ladenburg Thalmann Financial Services
Florida
$1.05M -$800K -62,121 -45%
TCT
72
TIAA CREF Trust
Missouri
$1.04M +$703K +54,600 +273%
NPC
73
National Planning Corporation
California
$1.02M +$476K +37,000 +113%
MAS
74
Madden Advisory Services
Florida
$1.01M -$33K -2,560 -3%
Mariner
75
Mariner
Kansas
$892K – – –
1 2
3
4 5

CEF Hedge Fund Activity: Q2 2016 in Review

172 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q2 2016, worth a combined $93.2B — up 9.8% from $84.9B a quarter earlier.

Sellers outnumbered buyers: 20 funds closed out of CEF and 17 opened new positions — a net loss of 3 holders — while 55 trimmed existing stakes and 47 added.

The largest buyer was Wellington Management Group, adding an estimated $28.4M. The largest seller was Capstone Investment Advisors, exiting entirely with an estimated $38.7M sold.

  • 172 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q2 2016, down from 176 in Q1 2016.
  • Funds reported $93.2B of Sprott Physical Gold and Silver Trust stock for Q2 2016, up 9.8% quarter-over-quarter.
  • 17 funds opened new Sprott Physical Gold and Silver Trust positions in Q2 2016 and 20 closed out, a net change of -3 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q2 2016 was Wellington Management Group, an estimated $28.4M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q2 2016 was Capstone Investment Advisors, an estimated $38.7M sold.

Based on aggregated 13F filings for Q2 2016.