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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
LCP
101
Legacy Capital Partners
Wisconsin
$412K -$14.4K -1,200 -3%
Mariner
102
Mariner
Kansas
$398K -$3.13M -261,736 -88%
CF
103
Copperwynd Financial
Arizona
$374K – – –
IC
104
Inverness Counsel
New York
$366K -$57K -4,760 -13%
ASN
105
Advisory Services Network
Georgia
$357K +$72 +6 +0%
BBA
106
BLB&B Advisors
Pennsylvania
$356K -$69.1K -5,770 -16%
AG
107
Advisor Group
Arizona
$356K +$29.1K +2,428 +9%
LNC
108
Lincoln National Corp
Pennsylvania
$351K -$10.8K -901 -3%
Toronto Dominion Bank
109
Toronto Dominion Bank
Ontario, Canada
$331K +$25.8K +2,152 +8%
OCAM
110
Onex Canada Asset Management
Ontario, Canada
$328K – – –
OC
111
Oarsman Capital
Wisconsin
$323K -$2.1K -175 -0.6%
Citadel Advisors
112
Citadel Advisors
Florida
$313K +$320K +26,763 New
WA
113
WealthTrust Axiom
Pennsylvania
$312K +$320K +26,750 New
SPIA
114
Steward Partners Investment Advisory
New York
$297K +$3.96K +331 +1%
Envestnet Asset Management
115
Envestnet Asset Management
Illinois
$297K +$304K +25,422 New
WF
116
Welch & Forbes
Massachusetts
$293K – – –
GCM
117
GoodHaven Capital Management
New Jersey
$292K +$23.9K +2,000 +9%
PFGIA
118
Patriot Financial Group Insurance Agency
Massachusetts
$287K – – –
JIC
119
Johnson Investment Counsel
Ohio
$260K – – –
Northwestern Mutual Wealth Management
120
Northwestern Mutual Wealth Management
Wisconsin
$249K +$203K +16,942 +386%
CAM
121
Covenant Asset Management
New Jersey
$246K -$47.9K -4,000 -16%
VF
122
Virtu Financial
New York
$241K +$247K +20,609 New
SMC
123
Smith, Moore & Co
Missouri
$240K -$5.39K -450 -2%
NSAM
124
North Star Asset Management
Wisconsin
$238K – – –
GWM
125
Geneos Wealth Management
Colorado
$229K -$143K -11,919 -38%
3 4
5
6 7

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.