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Sprott Physical Gold and Silver Trust
CEF

187 hedge funds and large institutions have $746M invested in Sprott Physical Gold and Silver Trust in 2018 Q1 according to their latest regulatory filings, with 39 funds opening new positions, 41 increasing their positions, 52 reducing their positions, and 28 closing their positions.

New
Increased
Maintained
Reduced
Closed

39% more first-time investments, than exits

New positions opened: 39 | Existing positions closed: 28

10% more funds holding in top 10

Funds holding in top 10: 10 → 11 (+1)

6% more funds holding

Funds holding: 176 → 187 (+11)

3% more capital invested

Capital invested by funds: $723M → $746M (+$23.3M)

0.64% more ownership

Funds ownership: 21.34% → 21.98% (+0.64%)

21% less repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 52

Holders
187
Holders Change
+11
Holders Change %
+6.25%
% of All Funds
4.29%
Holding in Top 10
11
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+10%
% of All Funds
0.25%
New
39
Increased
41
Reduced
52
Closed
28
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PAMP
Polar Asset Management Partners
Ontario, Canada
+$30.3M
2
WAM
Weiss Asset Management
Massachusetts
+$25.2M
3
AP
Antipodes Partners
Australia
+$21.7M
4
Neuberger Berman Group
Neuberger Berman Group
New York
+$12M
5
CI
Cowen Inc
New York
+$10.6M

Top Sellers

Rank Fund Capital Flow
1
CTC
Central Trust Company
Missouri
-$28M
2
OTC
Opera Trading Capital
France
-$26.3M
3
SI
Sprott Inc
Ontario, Canada
-$21.3M
4
Citigroup
Citigroup
New York
-$12.3M
5
FDCDDQ
Federation des caisses Desjardins du Quebec
Quebec, Canada
-$9.55M
Name Holding Trade Value Shares
Change 		Change in
Stake
CAS
101
Cue Advisory Services
Arizona
$422K -$30.3K -2,265 -7%
IWM
102
IHT Wealth Management
Illinois
$418K +$20K +1,500 +5%
LNC
103
Lincoln National Corp
Pennsylvania
$414K -$411K -30,727 -50%
AG
104
Advisor Group
Arizona
$401K -$25.9K -1,938 -6%
BCM
105
Brookstone Capital Management
Illinois
$400K +$405K +30,287 New
CCM
106
Catawba Capital Management
Virginia
$380K -$4.48K -335 -1%
OCAM
107
Onex Canada Asset Management
Ontario, Canada
$371K – – –
Toronto Dominion Bank
108
Toronto Dominion Bank
Ontario, Canada
$345K +$909 +68 +0.3%
OMC
109
Old Mission Capital
Illinois
$342K +$199K +14,865 +135%
SPIA
110
Steward Partners Investment Advisory
New York
$332K – – –
WF
111
Welch & Forbes
Massachusetts
$332K – – –
PFGIA
112
Patriot Financial Group Insurance Agency
Massachusetts
$331K +$328K +24,547 New
CAM
113
Covenant Asset Management
New Jersey
$330K +$167K +12,500 +100%
CC
114
Chicago Capital
Illinois
$330K +$333K +24,930 New
Mariner
115
Mariner
Kansas
$326K +$329K +24,596 New
First Manhattan
116
First Manhattan
New York
$319K – – –
GCM
117
GoodHaven Capital Management
New Jersey
$304K – – –
JIC
118
Johnson Investment Counsel
Ohio
$295K -$30.3K -2,265 -9%
WC
119
Wexford Capital
Florida
$295K +$298K +22,300 New
SMC
120
Smith, Moore & Co
Missouri
$278K +$281K +21,000 New
AA
121
Ancora Advisors
Ohio
$277K +$49.4K +3,700 +21%
NSAM
122
North Star Asset Management
Wisconsin
$270K – – –
BEAM
123
Baker Ellis Asset Management
Washington
$251K – – –
AWA
124
Arete Wealth Advisors
Illinois
$240K -$1.39K -104 -0.6%
LRPA
125
L. Roy Papp & Associates
Arizona
$233K – – –
3 4
5
6 7

CEF Hedge Fund Activity: Q1 2018 in Review

187 of the 4,363 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q1 2018, worth a combined $746M — up 3.2% from $723M a quarter earlier.

Buyers outnumbered sellers: 39 funds opened new CEF positions and 28 closed out — a net gain of 11 holders — while 41 added to existing stakes and 52 trimmed.

The largest buyer was Polar Asset Management Partners, adding an estimated $30.3M. The largest seller was Central Trust Company, exiting entirely with an estimated $28M sold.

  • 187 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q1 2018, up from 176 in Q4 2017.
  • Funds reported $746M of Sprott Physical Gold and Silver Trust stock for Q1 2018, up 3.2% quarter-over-quarter.
  • 39 funds opened new Sprott Physical Gold and Silver Trust positions in Q1 2018 and 28 closed out, a net change of +11 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q1 2018 was Polar Asset Management Partners, an estimated $30.3M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q1 2018 was Central Trust Company, an estimated $28M sold.

Based on aggregated 13F filings for Q1 2018.