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Sprott Physical Gold and Silver Trust
CEF

172 hedge funds and large institutions have $93.2B invested in Sprott Physical Gold and Silver Trust in 2016 Q2 according to their latest regulatory filings, with 17 funds opening new positions, 47 increasing their positions, 55 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

10% more capital invested

Capital invested by funds: $84.9B → $93.2B (+$8.28B)

2% less funds holding

Funds holding: 176 → 172 (-4)

2.41% less ownership

Funds ownership: 19.89% → 17.48% (-2.4%)

15% less repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 55

15% less first-time investments, than exits

New positions opened: 17 | Existing positions closed: 20

25% less funds holding in top 10

Funds holding in top 10: 12 → 9 (-3)

Holders
172
Holders Change
-4
Holders Change %
-2.27%
% of All Funds
4.59%
Holding in Top 10
9
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-25%
% of All Funds
0.24%
New
17
Increased
47
Reduced
55
Closed
20
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Wellington Management Group
Wellington Management Group
Massachusetts
+$28.4M
2
SI
Sprott Inc
Ontario, Canada
+$20.5M
3
CTC
Central Trust Company
Missouri
+$3.56M
4
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
+$3.37M
5
CIBC Asset Management
CIBC Asset Management
Ontario, Canada
+$3.3M

Top Sellers

1
Capstone Investment Advisors
Capstone Investment Advisors
New York
-$38.7M
2
PAMP
Polar Asset Management Partners
Ontario, Canada
-$17.9M
3
LCM
Landscape Capital Management
New Jersey
-$15.4M
4
Morgan Stanley
Morgan Stanley
New York
-$15M
5
AGM
Alpine Global Management
New York
-$9.73M
Name Holding Trade Value Shares
Change 		Change in
Stake
NFG
126
Next Financial Group
Texas
$199K +$62.1K +4,823 +50%
Jane Street
127
Jane Street
New York
$195K -$222K -17,237 -55%
WSC
128
Wellington Shields & Co
New York
$192K – – –
FAAS
129
First Allied Advisory Services
California
$185K -$386 -30 -0.2%
AA
130
Ancora Advisors
Ohio
$180K – – –
CAS
131
Cue Advisory Services
Arizona
$176K -$3.86K -300 -2%
RFC
132
Regions Financial Corp
Alabama
$173K -$174K -13,533 -52%
FDS
133
First Dallas Securities
Texas
$171K – – –
AM
134
Account Management
Massachusetts
$167K -$38.6K -3,000 -20%
NFG
135
Nations Financial Group
Iowa
$162K +$4.83K +375 +3%
AIM
136
Advantage Investment Management
Iowa
$160K +$8.69K +675 +6%
FPFS
137
First Personal Financial Services
North Carolina
$154K – – –
TD Asset Management
138
TD Asset Management
Ontario, Canada
$154K +$185K +14,401 New
VA
139
Valmark Advisers
Ohio
$150K – – –
CPA
140
Capital Planning Advisors
California
$149K – – –
CHAM
141
Clear Harbor Asset Management
Connecticut
$142K -$12.9K -1,000 -9%
JFA
142
JNBA Financial Advisors
Minnesota
$139K – – –
DWA
143
Douglass Winthrop Advisors
New York
$139K +$129K +10,000 New
KPF
144
K2 Principal Fund
Ontario, Canada
$138K – – –
WT
145
Whittier Trust
California
$125K – – –
HNB
146
Huntington National Bank
Ohio
$120K – – –
SEI Investments
147
SEI Investments
Pennsylvania
$90K +$83.7K +6,500 New
TRCT
148
Tower Research Capital (TRC)
New York
$88K +$59.6K +4,630 +1,715%
MIM
149
Macroview Investment Management
Maryland
$78K – – –
IA
150
IFP Advisors
Florida
$76K +$65.9K +5,120 +1,575%
4 5
6
7 8

CEF Hedge Fund Activity: Q2 2016 in Review

172 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q2 2016, worth a combined $93.2B — up 9.8% from $84.9B a quarter earlier.

Sellers outnumbered buyers: 20 funds closed out of CEF and 17 opened new positions — a net loss of 3 holders — while 55 trimmed existing stakes and 47 added.

The largest buyer was Wellington Management Group, adding an estimated $28.4M. The largest seller was Capstone Investment Advisors, exiting entirely with an estimated $38.7M sold.

  • 172 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q2 2016, down from 176 in Q1 2016.
  • Funds reported $93.2B of Sprott Physical Gold and Silver Trust stock for Q2 2016, up 9.8% quarter-over-quarter.
  • 17 funds opened new Sprott Physical Gold and Silver Trust positions in Q2 2016 and 20 closed out, a net change of -3 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q2 2016 was Wellington Management Group, an estimated $28.4M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q2 2016 was Capstone Investment Advisors, an estimated $38.7M sold.

Based on aggregated 13F filings for Q2 2016.