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Sprott Physical Gold and Silver Trust
CEF

192 hedge funds and large institutions have $583M invested in Sprott Physical Gold and Silver Trust in 2018 Q3 according to their latest regulatory filings, with 17 funds opening new positions, 44 increasing their positions, 58 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

6% more capital invested

Capital invested by funds: $550M → $583M (+$33M)

4.2% more ownership

Funds ownership: 16.09% → 20.29% (+4.2%)

0% more funds holding in top 10

Funds holding in top 10: 8 → 8 (0)

3% less funds holding

Funds holding: 197 → 192 (-5)

19% less first-time investments, than exits

New positions opened: 17 | Existing positions closed: 21

24% less repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 58

Holders
192
Holders Change
-5
Holders Change %
-2.54%
% of All Funds
4.39%
Holding in Top 10
8
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.18%
New
17
Increased
44
Reduced
58
Closed
21
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
PAMP
Polar Asset Management Partners
Ontario, Canada
+$37M
2
CTC
Central Trust Company
Missouri
+$28.4M
3
WAM
Weiss Asset Management
Massachusetts
+$22.9M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$7.58M
5
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$3.44M

Top Sellers

1
RJA
Raymond James & Associates
Florida
-$7.95M
2
BFA
Beaumont Financial Advisors
Massachusetts
-$6.2M
3
RCM
Rivernorth Capital Management
Florida
-$5.48M
4
KPF
K2 Principal Fund
Ontario, Canada
-$5.01M
5
Cohen & Steers
Cohen & Steers
New York
-$3.49M
Name Holding Trade Value Shares
Change 		Change in
Stake
Creative Planning
76
Creative Planning
Kansas
$930K +$178K +14,878 +23%
SWP
77
Stratos Wealth Partners
Ohio
$928K -$98.4K -8,218 -9%
FTI
78
Fiduciary Trust International
Massachusetts
$913K – – –
BS
79
Boenning & Scattergood
Pennsylvania
$896K -$19.8K -1,650 -2%
ECM
80
Evergreen Capital Management
Washington
$892K – – –
MAS
81
Madden Advisory Services
Florida
$784K – – –
CDH
82
Charles D. Hyman
$752K -$53.9K -4,500 -7%
BAM
83
Belpointe Asset Management
Nevada
$744K -$73K -6,096 -9%
US Bancorp
84
US Bancorp
Minnesota
$707K +$152K +12,680 +27%
PHIMC
85
Private Harbour Investment Management & Counsel
Ohio
$694K – – –
MML Investors Services
86
MML Investors Services
Massachusetts
$681K -$54.7K -4,566 -7%
Bank of Montreal
87
Bank of Montreal
Ontario, Canada
$653K +$2.15K +180 +0.3%
ADBIC
88
A.D. Beadell Investment Counsel
Wisconsin
$649K -$35.9K -3,000 -5%
SJIC
89
St. James Investment Company
Texas
$630K – – –
ATC
90
Argent Trust Co
Tennessee
$606K -$4.11K -343 -0.7%
PAS
91
Partnervest Advisory Services
California
$592K +$148K +12,326 +32%
KM
92
Kalos Management
Georgia
$543K +$557K +46,503 New
BCM
93
Brookstone Capital Management
Illinois
$502K +$93.3K +7,789 +22%
CI
94
Chartist Inc
California
$501K – – –
William Blair & Company
95
William Blair & Company
Illinois
$476K -$71.8K -6,000 -13%
ANTB
96
AMG National Trust Bank
Colorado
$467K – – –
FHA
97
Flagship Harbor Advisors
Massachusetts
$459K – – –
FAAS
98
First Allied Advisory Services
California
$456K +$13.9K +1,160 +3%
CCA
99
Cobblestone Capital Advisors
New York
$448K – – –
First Manhattan
100
First Manhattan
New York
$419K +$145K +12,100 +50%
2 3
4
5 6

CEF Hedge Fund Activity: Q3 2018 in Review

192 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q3 2018, worth a combined $583M — up 6% from $550M a quarter earlier.

Sellers outnumbered buyers: 21 funds closed out of CEF and 17 opened new positions — a net loss of 4 holders — while 58 trimmed existing stakes and 44 added.

The largest buyer was Polar Asset Management Partners, opening a new position worth an estimated $37M. The largest seller was Raymond James & Associates, cutting an estimated $7.95M.

  • 192 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q3 2018, down from 197 in Q2 2018.
  • Funds reported $583M of Sprott Physical Gold and Silver Trust stock for Q3 2018, up 6% quarter-over-quarter.
  • 17 funds opened new Sprott Physical Gold and Silver Trust positions in Q3 2018 and 21 closed out, a net change of -4 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q3 2018 was Polar Asset Management Partners, an estimated $37M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q3 2018 was Raymond James & Associates, an estimated $7.95M sold.

Based on aggregated 13F filings for Q3 2018.