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Sprott Physical Gold and Silver Trust
CEF

180 hedge funds and large institutions have $530M invested in Sprott Physical Gold and Silver Trust in 2018 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 40 increasing their positions, 61 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

0% more funds holding in top 10

Funds holding in top 10: 8 → 8 (0)

0.91% less ownership

Funds ownership: 20.29% → 19.38% (-0.91%)

6% less funds holding

Funds holding: 192 → 180 (-12)

9% less capital invested

Capital invested by funds: $583M → $530M (-$52.5M)

34% less repeat investments, than reductions

Existing positions increased: 40 | Existing positions reduced: 61

38% less first-time investments, than exits

New positions opened: 16 | Existing positions closed: 26

Holders
180
Holders Change
-12
Holders Change %
-6.25%
% of All Funds
4.01%
Holding in Top 10
8
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.18%
New
16
Increased
40
Reduced
61
Closed
26
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BFM
Boothbay Fund Management
New York
+$36.8M
2
AIM
Artemis Investment Management
United Kingdom
+$20.2M
3
MAP
Managed Asset Portfolios
Michigan
+$16M
4
CL
CSS LLC
Illinois
+$8.24M
5
AP
Antipodes Partners
Australia
+$7.06M

Top Sellers

Rank Fund Capital Flow
1
PAMP
Polar Asset Management Partners
Ontario, Canada
-$28.1M
2
WAM
Weiss Asset Management
Massachusetts
-$27.2M
3
Morgan Stanley
Morgan Stanley
New York
-$16.1M
4
CWM
Cornerstone Wealth Management
Missouri
-$8.08M
5
OFG
OTA Financial Group
New York
-$7.77M
Name Holding Trade Value Shares
Change 		Change in
Stake
CCA
101
Cobblestone Capital Advisors
New York
$481K – – –
LCP
102
Legacy Capital Partners
Wisconsin
$448K +$4.75K +400 +1%
AG
103
Advisor Group
Arizona
$413K +$28.6K +2,412 +8%
JIC
104
Johnson Investment Counsel
Ohio
$403K +$117K +9,850 +44%
CF
105
Copperwynd Financial
Arizona
$402K – – –
IC
106
Inverness Counsel
New York
$393K -$237 -20 -0.1%
ASN
107
Advisory Services Network
Georgia
$378K -$4.94K -416 -1%
OCAM
108
Onex Canada Asset Management
Ontario, Canada
$351K – – –
BBA
109
BLB&B Advisors
Pennsylvania
$339K -$40.9K -3,445 -11%
OC
110
Oarsman Capital
Wisconsin
$335K -$10.7K -900 -3%
WA
111
WealthTrust Axiom
Pennsylvania
$335K – – –
Toronto Dominion Bank
112
Toronto Dominion Bank
Ontario, Canada
$327K -$25.9K -2,181 -8%
SPIA
113
Steward Partners Investment Advisory
New York
$319K – – –
WF
114
Welch & Forbes
Massachusetts
$315K – – –
GCM
115
GoodHaven Capital Management
New Jersey
$313K – – –
PFGIA
116
Patriot Financial Group Insurance Agency
Massachusetts
$308K – – –
SMC
117
Smith, Moore & Co
Missouri
$258K – – –
NSAM
118
North Star Asset Management
Wisconsin
$256K – – –
CAM
119
Covenant Asset Management
New Jersey
$246K – – –
SBH
120
Segall Bryant & Hamill
Illinois
$233K – – –
COI
121
Capital One Investing
Virginia
$223K +$211K +17,807 New
LRPA
122
L. Roy Papp & Associates
Arizona
$221K – – –
IWM
123
IHT Wealth Management
Illinois
$217K +$16.6K +1,400 +9%
LIC
124
Lodestar Investment Counsel
Illinois
$213K – – –
AIP
125
Almanack Investment Partners
Pennsylvania
$210K – – –
3 4
5
6 7

CEF Hedge Fund Activity: Q4 2018 in Review

180 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2018, worth a combined $530M — down 9% from $583M a quarter earlier.

Sellers outnumbered buyers: 26 funds closed out of CEF and 16 opened new positions — a net loss of 10 holders — while 61 trimmed existing stakes and 40 added.

The largest buyer was Boothbay Fund Management, opening a new position worth an estimated $36.8M. The largest seller was Polar Asset Management Partners, cutting an estimated $28.1M.

  • 180 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q4 2018, down from 192 in Q3 2018.
  • Funds reported $530M of Sprott Physical Gold and Silver Trust stock for Q4 2018, down 9% quarter-over-quarter.
  • 16 funds opened new Sprott Physical Gold and Silver Trust positions in Q4 2018 and 26 closed out, a net change of -10 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q4 2018 was Boothbay Fund Management, an estimated $36.8M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q4 2018 was Polar Asset Management Partners, an estimated $28.1M sold.

Based on aggregated 13F filings for Q4 2018.