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Sprott Physical Gold and Silver Trust
CEF

187 hedge funds and large institutions have $70.7B invested in Sprott Physical Gold and Silver Trust in 2015 Q4 according to their latest regulatory filings, with 30 funds opening new positions, 43 increasing their positions, 63 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

11,059% more capital invested

Capital invested by funds: $634M → $70.7B (+$70.1B)

50% more first-time investments, than exits

New positions opened: 30 | Existing positions closed: 20

20% more funds holding in top 10

Funds holding in top 10: 10 → 12 (+2)

5% more funds holding

Funds holding: 178 → 187 (+9)

0.17% less ownership

Funds ownership: 20.19% → 20.02% (-0.17%)

32% less repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 63

Holders
187
Holders Change
+9
Holders Change %
+5.06%
% of All Funds
4.91%
Holding in Top 10
12
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+20%
% of All Funds
0.31%
New
30
Increased
43
Reduced
63
Closed
20
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LCM
Landscape Capital Management
New Jersey
+$20.7M
2
LPL Financial
LPL Financial
California
+$6.66M
3
NHFG
New Harbor Financial Group
Massachusetts
+$3.34M
4
JG
Jefferies Group
New York
+$3.29M
5
AGM
Alpine Global Management
New York
+$2.93M

Top Sellers

Rank Fund Capital Flow
1
Canada Life
Canada Life
Manitoba, Canada
-$21.9M
2
Ameriprise
Ameriprise
Minnesota
-$10.1M
3
Neuberger Berman Group
Neuberger Berman Group
New York
-$8.57M
4
OC
Oppenheimer & Close
New York
-$4.29M
5
Millennium Management
Millennium Management
New York
-$2.98M
Name Holding Trade Value Shares
Change 		Change in
Stake
SRP
101
Saddle Road Partners
Nebraska
$333K +$353K +33,300 New
CCA
102
Catalyst Capital Advisors
New York
$327K – – –
IC
103
Inverness Counsel
New York
$318K -$127K -12,027 -27%
Geode Capital Management
104
Geode Capital Management
Massachusetts
$315K +$336K +31,698 New
HNB
105
Huntington National Bank
Ohio
$282K – – –
PL
106
Plancorp LLC
Missouri
$275K -$374K -35,283 -56%
SM
107
Stratton Management
Pennsylvania
$275K – – –
RFC
108
Regions Financial Corp
Alabama
$262K -$201K -18,917 -42%
Toronto Dominion Bank
109
Toronto Dominion Bank
Ontario, Canada
$260K +$1.05K +99 +0.4%
WF
110
Welch & Forbes
Massachusetts
$249K – – –
SWM
111
SVA Wealth Management
Wisconsin
$246K – – –
NSAM
112
North Star Asset Management
Wisconsin
$241K +$53K +5,000 +26%
NFG
113
Nations Financial Group
Iowa
$230K +$244K +23,050 New
FNBT
114
FineMark National Bank & Trust
Florida
$225K +$239K +22,536 New
AF
115
Aegis Financial
Virginia
$224K -$12.9K -1,217 -5%
PIM
116
Provident Investment Management
Michigan
$214K +$227K +21,400 New
PAS
117
Partnervest Advisory Services
California
$210K +$29.4K +2,770 +15%
ASN
118
Advisory Services Network
Georgia
$207K – – –
TAM
119
Tocqueville Asset Management
New York
$191K -$265K -25,000 -57%
Millennium Management
120
Millennium Management
New York
$189K -$2.98M -281,428 -94%
SBH
121
Segall Bryant & Hamill
Illinois
$181K – – –
GCM
122
GoodHaven Capital Management
New Jersey
$180K +$84.8K +8,000 +80%
Janney Montgomery Scott
123
Janney Montgomery Scott
Pennsylvania
$178K +$530 +50 +0.3%
LIC
124
Lodestar Investment Counsel
Illinois
$170K +$180K +17,000 New
SAM
125
Silvercrest Asset Management
New York
$165K – – –
3 4
5
6 7

CEF Hedge Fund Activity: Q4 2015 in Review

187 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2015, worth a combined $70.7B — up 11,059% from $634M a quarter earlier.

Buyers outnumbered sellers: 30 funds opened new CEF positions and 20 closed out — a net gain of 10 holders — while 43 added to existing stakes and 63 trimmed.

The largest buyer was Landscape Capital Management, adding an estimated $20.7M. The largest seller was Canada Life, cutting an estimated $21.9M.

  • 187 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q4 2015, up from 178 in Q3 2015.
  • Funds reported $70.7B of Sprott Physical Gold and Silver Trust stock for Q4 2015, up 11,059% quarter-over-quarter.
  • 30 funds opened new Sprott Physical Gold and Silver Trust positions in Q4 2015 and 20 closed out, a net change of +10 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q4 2015 was Landscape Capital Management, an estimated $20.7M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q4 2015 was Canada Life, an estimated $21.9M sold.

Based on aggregated 13F filings for Q4 2015.