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Sprott Physical Gold and Silver Trust
CEF

363 hedge funds and large institutions have $1.74B invested in Sprott Physical Gold and Silver Trust in 2025 Q1 according to their latest regulatory filings, with 39 funds opening new positions, 106 increasing their positions, 95 reducing their positions, and 28 closing their positions.

New
Increased
Maintained
Reduced
Closed

39% more first-time investments, than exits

New positions opened: 39 | Existing positions closed: 28

15% more capital invested

Capital invested by funds: $1.51B → $1.74B (+$225M)

12% more repeat investments, than reductions

Existing positions increased: 106 | Existing positions reduced: 95

2% more funds holding

Funds holding: 356 → 363 (+7)

0.18% more ownership

Funds ownership: 30.68% → 30.86% (+0.18%)

0% more funds holding in top 10

Funds holding in top 10: 14 → 14 (0)

Holders
363
Holders Change
+7
Holders Change %
+1.97%
% of All Funds
4.87%
Holding in Top 10
14
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.19%
New
39
Increased
106
Reduced
95
Closed
28
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
DFG
Demars Financial Group
Washington
+$11.2M
2
AWA
Arkadios Wealth Advisors
Georgia
+$6.9M
3
JAM
Jupiter Asset Management
United Kingdom
+$6.55M
4
Morgan Stanley
Morgan Stanley
New York
+$4.98M
5
Osaic Holdings
Osaic Holdings
Arizona
+$3.74M

Top Sellers

Rank Fund Capital Flow
1
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$52.1M
2
BFM
Boothbay Fund Management
New York
-$20.4M
3
SRC
Shufro Rose & Co
New York
-$18.5M
4
Jane Street
Jane Street
New York
-$12.2M
5
FFO
Fiduciary Family Office
Florida
-$8.61M
Name Holding Trade Value Shares
Change 		Change in
Stake
MF
151
Montis Financial
Massachusetts
$818K – – –
MCM
152
MAI Capital Management
Ohio
$816K +$72.9K +2,766 +11%
VFA
153
Valeo Financial Advisors
Indiana
$804K -$659 -25 -0.1%
TCA
154
Transcend Capital Advisors
New Jersey
$798K +$741K +28,100 New
IWM
155
IHT Wealth Management
Illinois
$787K – – –
Mercer Global Advisors
156
Mercer Global Advisors
Colorado
$769K -$221K -8,395 -24%
SG
157
StoneX Group
New York
$766K -$146K -5,522 -17%
BTI
158
Blue Trust Inc
Georgia
$765K +$702K +26,632 +8,877%
ASN
159
Advisory Services Network
Georgia
$756K +$2.64K +100 +0.4%
IIA
160
IPG Investment Advisors
California
$746K – – –
Franklin Resources
161
Franklin Resources
California
$734K – – –
AAG
162
Accordant Advisory Group
Maryland
$729K +$3.4K +129 +0.5%
TWM
163
Tradition Wealth Management
Minnesota
$712K – – –
SAM
164
Stenahm Asset Management
Guernsey
$710K +$659K +25,000 New
CTA
165
Camelot Technology Advisors
California
$709K – – –
Toronto Dominion Bank
166
Toronto Dominion Bank
Ontario, Canada
$709K – – –
Rockefeller Capital Management
167
Rockefeller Capital Management
New York
$693K +$127K +4,810 +25%
SGI
168
Summit Global Investments
Utah
$689K – – –
SCM
169
Sunbeam Capital Management
Georgia
$689K +$254K +9,619 +66%
SPIA
170
Steward Partners Investment Advisory
New York
$681K -$50.1K -1,900 -7%
PFS
171
Prospera Financial Services
Texas
$658K +$54K +2,050 +10%
SFC
172
Strategic Financial Concepts
Texas
$657K +$16.9K +641 +3%
WA
173
WealthTrust Axiom
Pennsylvania
$647K – – –
DWM
174
Dakota Wealth Management
Florida
$625K – – –
SC
175
SouthState Corp
Florida
$612K +$25.3K +958 +5%
5 6
7
8 9

CEF Hedge Fund Activity: Q1 2025 in Review

363 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q1 2025, worth a combined $1.74B — up 15% from $1.51B a quarter earlier.

Buyers outnumbered sellers: 39 funds opened new CEF positions and 28 closed out — a net gain of 11 holders — while 106 added to existing stakes and 95 trimmed.

The largest buyer was Demars Financial Group, adding an estimated $11.2M. The largest seller was Parallax Volatility Advisers, cutting an estimated $52.1M.

  • 363 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q1 2025, up from 356 in Q4 2024.
  • Funds reported $1.74B of Sprott Physical Gold and Silver Trust stock for Q1 2025, up 15% quarter-over-quarter.
  • 39 funds opened new Sprott Physical Gold and Silver Trust positions in Q1 2025 and 28 closed out, a net change of +11 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q1 2025 was Demars Financial Group, an estimated $11.2M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q1 2025 was Parallax Volatility Advisers, an estimated $52.1M sold.

Based on aggregated 13F filings for Q1 2025.