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Sprott Physical Gold and Silver Trust
CEF

197 hedge funds and large institutions have $550M invested in Sprott Physical Gold and Silver Trust in 2018 Q2 according to their latest regulatory filings, with 25 funds opening new positions, 40 increasing their positions, 61 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

79% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 14

5% more funds holding

Funds holding: 187 → 197 (+10)

5.88% less ownership

Funds ownership: 21.98% → 16.09% (-5.9%)

26% less capital invested

Capital invested by funds: $746M → $550M (-$197M)

27% less funds holding in top 10

Funds holding in top 10: 11 → 8 (-3)

34% less repeat investments, than reductions

Existing positions increased: 40 | Existing positions reduced: 61

Holders
197
Holders Change
+10
Holders Change %
+5.35%
% of All Funds
4.51%
Holding in Top 10
8
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-27.27%
% of All Funds
0.18%
New
25
Increased
40
Reduced
61
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$14M
2
CWM
Cornerstone Wealth Management
Missouri
+$8.39M
3
RJA
Raymond James & Associates
Florida
+$7.21M
4
FTIOP
Fiduciary Trust International of Pennsylvania
Pennsylvania
+$6.78M
5
OTC
Opera Trading Capital
France
+$6.29M

Top Sellers

1
PAMP
Polar Asset Management Partners
Ontario, Canada
-$131M
2
WAM
Weiss Asset Management
Massachusetts
-$116M
3
CL
CSS LLC
Illinois
-$5.9M
4
RCM
Rivernorth Capital Management
Florida
-$3.4M
5
Morgan Stanley
Morgan Stanley
New York
-$2.78M
Name Holding Trade Value Shares
Change 		Change in
Stake
IC
101
Inverness Counsel
New York
$452K -$1.92K -145 -0.4%
BCM
102
Brookstone Capital Management
Illinois
$441K +$64.9K +4,909 +16%
PRHC
103
P.R. Herzig & Co
New York
$426K -$96.5K -7,300 -18%
CF
104
Copperwynd Financial
Arizona
$402K – – –
CAS
105
Cue Advisory Services
Arizona
$400K – – –
GWM
106
Geneos Wealth Management
Colorado
$395K -$35K -2,651 -8%
LNC
107
Lincoln National Corp
Pennsylvania
$388K -$4.78K -362 -1%
ASN
108
Advisory Services Network
Georgia
$372K -$941K -71,235 -70%
CCM
109
Catawba Capital Management
Virginia
$358K -$2.25K -170 -0.6%
AG
110
Advisor Group
Arizona
$352K -$30.4K -2,300 -8%
OCAM
111
Onex Canada Asset Management
Ontario, Canada
$352K – – –
OC
112
Oarsman Capital
Wisconsin
$348K -$70.3K -5,320 -16%
Toronto Dominion Bank
113
Toronto Dominion Bank
Ontario, Canada
$328K +$383 +29 +0.1%
SPIA
114
Steward Partners Investment Advisory
New York
$315K – – –
WF
115
Welch & Forbes
Massachusetts
$315K – – –
CAM
116
Covenant Asset Management
New Jersey
$314K – – –
PFGIA
117
Patriot Financial Group Insurance Agency
Massachusetts
$308K – – –
First Manhattan
118
First Manhattan
New York
$303K – – –
GCM
119
GoodHaven Capital Management
New Jersey
$288K – – –
JIC
120
Johnson Investment Counsel
Ohio
$279K – – –
CF
121
Centaurus Financial
California
$278K +$292K +22,120 New
SMC
122
Smith, Moore & Co
Missouri
$263K – – –
NSAM
123
North Star Asset Management
Wisconsin
$256K – – –
SBH
124
Segall Bryant & Hamill
Illinois
$233K -$246K -18,610 -50%
BEAM
125
Baker Ellis Asset Management
Washington
$232K -$6.62K -501 -3%
3 4
5
6 7

CEF Hedge Fund Activity: Q2 2018 in Review

197 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q2 2018, worth a combined $550M — down 26% from $746M a quarter earlier.

Buyers outnumbered sellers: 25 funds opened new CEF positions and 14 closed out — a net gain of 11 holders — while 40 added to existing stakes and 61 trimmed.

The largest buyer was T. Rowe Price Associates, opening a new position worth an estimated $14M. The largest seller was Polar Asset Management Partners, exiting entirely with an estimated $131M sold.

  • 197 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q2 2018, up from 187 in Q1 2018.
  • Funds reported $550M of Sprott Physical Gold and Silver Trust stock for Q2 2018, down 26% quarter-over-quarter.
  • 25 funds opened new Sprott Physical Gold and Silver Trust positions in Q2 2018 and 14 closed out, a net change of +11 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q2 2018 was T. Rowe Price Associates, an estimated $14M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q2 2018 was Polar Asset Management Partners, an estimated $131M sold.

Based on aggregated 13F filings for Q2 2018.