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Sprott Physical Gold and Silver Trust
CEF

186 hedge funds and large institutions have $515M invested in Sprott Physical Gold and Silver Trust in 2019 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 45 increasing their positions, 60 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

88% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 8

3% more funds holding

Funds holding: 180 → 186 (+6)

1.09% more ownership

Funds ownership: 19.38% → 20.47% (+1.1%)

3% less capital invested

Capital invested by funds: $530M → $515M (-$15.1M)

13% less funds holding in top 10

Funds holding in top 10: 8 → 7 (-1)

25% less repeat investments, than reductions

Existing positions increased: 45 | Existing positions reduced: 60

Holders
186
Holders Change
+6
Holders Change %
+3.33%
% of All Funds
4.03%
Holding in Top 10
7
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-12.5%
% of All Funds
0.15%
New
15
Increased
45
Reduced
60
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BFM
Boothbay Fund Management
New York
+$21.7M
2
WAM
Weiss Asset Management
Massachusetts
+$21.4M
3
CTC
Central Trust Company
Missouri
+$1.93M
4
FC
Fore Capital
New York
+$893K
5
MAP
Managed Asset Portfolios
Michigan
+$887K

Top Sellers

Rank Fund Capital Flow
1
CL
CSS LLC
Illinois
-$12.3M
2
HighTower Advisors
HighTower Advisors
Illinois
-$9.81M
3
AGM
Alpine Global Management
New York
-$7.62M
4
NWM
Nicola Wealth Management
British Columbia, Canada
-$6.16M
5
SI
Sprott Inc
Ontario, Canada
-$4.93M
Name Holding Trade Value Shares
Change 		Change in
Stake
CF
101
Copperwynd Financial
Arizona
$398K – – –
WA
102
WealthTrust Axiom
Pennsylvania
$381K +$51K +4,000 +15%
IC
103
Inverness Counsel
New York
$374K -$14.3K -1,119 -4%
ASN
104
Advisory Services Network
Georgia
$374K – – –
OCAM
105
Onex Canada Asset Management
Ontario, Canada
$349K – – –
BBA
106
BLB&B Advisors
Pennsylvania
$336K – – –
SPIA
107
Steward Partners Investment Advisory
New York
$334K +$19.4K +1,523 +6%
Toronto Dominion Bank
108
Toronto Dominion Bank
Ontario, Canada
$325K +$230 +18 +0.1%
OC
109
Oarsman Capital
Wisconsin
$323K -$8.93K -700 -3%
KWM
110
Kingsview Wealth Management
Oregon
$312K +$321K +25,170 New
WF
111
Welch & Forbes
Massachusetts
$311K – – –
GCM
112
GoodHaven Capital Management
New Jersey
$310K – – –
PFGIA
113
Patriot Financial Group Insurance Agency
Massachusetts
$304K – – –
MWM
114
Merriman Wealth Management
Washington
$286K -$791K -62,000 -73%
UR
115
USCA RIA
Texas
$285K +$162K +12,700 +124%
Millennium Management
116
Millennium Management
New York
$276K +$284K +22,296 New
VF
117
Virtu Financial
New York
$274K +$282K +22,096 New
NSAM
118
North Star Asset Management
Wisconsin
$253K – – –
SBH
119
Segall Bryant & Hamill
Illinois
$231K – – –
BCM
120
Baltimore Capital Management
Maryland
$223K +$230K +18,000 New
LRPA
121
L. Roy Papp & Associates
Arizona
$218K – – –
VHAM
122
Van Hulzen Asset Management
California
$215K +$221K +17,300 New
LIC
123
Lodestar Investment Counsel
Illinois
$211K – – –
COI
124
Capital One Investing
Virginia
$210K -$10.9K -857 -5%
AIP
125
Almanack Investment Partners
Pennsylvania
$208K – – –
3 4
5
6 7

CEF Hedge Fund Activity: Q1 2019 in Review

186 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q1 2019, worth a combined $515M — down 2.8% from $530M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new CEF positions and 8 closed out — a net gain of 7 holders — while 45 added to existing stakes and 60 trimmed.

The largest buyer was Boothbay Fund Management, adding an estimated $21.7M. The largest seller was CSS LLC, exiting entirely with an estimated $12.3M sold.

  • 186 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q1 2019, up from 180 in Q4 2018.
  • Funds reported $515M of Sprott Physical Gold and Silver Trust stock for Q1 2019, down 2.8% quarter-over-quarter.
  • 15 funds opened new Sprott Physical Gold and Silver Trust positions in Q1 2019 and 8 closed out, a net change of +7 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q1 2019 was Boothbay Fund Management, an estimated $21.7M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q1 2019 was CSS LLC, an estimated $12.3M sold.

Based on aggregated 13F filings for Q1 2019.