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Sprott Physical Gold and Silver Trust
CEF

377 hedge funds and large institutions have $1.7B invested in Sprott Physical Gold and Silver Trust in 2025 Q2 according to their latest regulatory filings, with 40 funds opening new positions, 83 increasing their positions, 117 reducing their positions, and 24 closing their positions.

New
Increased
Maintained
Reduced
Closed

67% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 24

4% more funds holding

Funds holding: 363 → 377 (+14)

2% less capital invested

Capital invested by funds: $1.74B → $1.7B (-$33.8M)

1.77% less ownership

Funds ownership: 30.86% → 29.09% (-1.8%)

21% less funds holding in top 10

Funds holding in top 10: 14 → 11 (-3)

29% less repeat investments, than reductions

Existing positions increased: 83 | Existing positions reduced: 117

Holders
377
Holders Change
+14
Holders Change %
+3.86%
% of All Funds
4.96%
Holding in Top 10
11
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-21.43%
% of All Funds
0.14%
New
40
Increased
83
Reduced
117
Closed
24
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$25.5M
2
JAM
Jupiter Asset Management
United Kingdom
+$10.5M
3
GS
GWN Securities
Florida
+$6.32M
4
IAIM
International Assets Investment Management
Florida
+$6.17M
5
TIAA Trust, National Association
TIAA Trust, National Association
North Carolina
+$5.75M

Top Sellers

Rank Fund Capital Flow
1
DFG
Demars Financial Group
Washington
-$68.3M
2
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$40.3M
3
BCM
Bluefin Capital Management
New York
-$36.5M
4
BFG
Bleakley Financial Group
New Jersey
-$10.5M
5
PJWM
Philip James Wealth Mangement
Georgia
-$7.39M
Name Holding Trade Value Shares
Change 		Change in
Stake
RW
151
Rockport Wealth
Ohio
$966K -$920K -31,458 -49%
OC
152
Oppenheimer & Close
New York
$935K – – –
HCMT
153
Highland Capital Management (Tennessee)
Tennessee
$919K – – –
EWA
154
EverSource Wealth Advisors
Alabama
$916K – – –
Mercer Global Advisors
155
Mercer Global Advisors
Colorado
$903K +$85.8K +2,933 +11%
CIBC Asset Management
156
CIBC Asset Management
Ontario, Canada
$903K – – –
SC
157
SouthState Corp
Florida
$889K +$234K +8,000 +37%
SPIA
158
Steward Partners Investment Advisory
New York
$887K +$161K +5,494 +23%
JIP
159
Jaffetilchin Investment Partners
Florida
$887K – – –
TCA
160
Transcend Capital Advisors
New Jersey
$881K +$34.4K +1,175 +4%
VFA
161
Valeo Financial Advisors
Indiana
$866K +$14K +479 +2%
MCM
162
MAI Capital Management
Ohio
$865K – – –
TWM
163
TCFG Wealth Management
California
$862K -$825K -28,225 -50%
MF
164
Montis Financial
Massachusetts
$861K -$5.85K -200 -0.7%
PFA
165
Petra Financial Advisors
Colorado
$844K +$537K +18,364 +190%
IWM
166
IHT Wealth Management
Illinois
$833K – – –
BTI
167
Blue Trust Inc
Georgia
$811K – – –
AAG
168
Accordant Advisory Group
Maryland
$784K +$11.6K +396 +2%
WW
169
Winnow Wealth
Texas
$784K +$761K +26,042 New
SGI
170
Summit Global Investments
Utah
$775K +$43.6K +1,490 +6%
TWM
171
Tradition Wealth Management
Minnesota
$755K – – –
SAM
172
Stenahm Asset Management
Guernsey
$753K – – –
Toronto Dominion Bank
173
Toronto Dominion Bank
Ontario, Canada
$752K – – –
SG
174
StoneX Group
New York
$751K -$58.5K -2,000 -7%
ASN
175
Advisory Services Network
Georgia
$751K -$48.7K -1,667 -6%
5 6
7
8 9

CEF Hedge Fund Activity: Q2 2025 in Review

377 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q2 2025, worth a combined $1.7B — down 1.9% from $1.74B a quarter earlier.

Buyers outnumbered sellers: 40 funds opened new CEF positions and 24 closed out — a net gain of 16 holders — while 83 added to existing stakes and 117 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $25.5M. The largest seller was Demars Financial Group, cutting an estimated $68.3M.

  • 377 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q2 2025, up from 363 in Q1 2025.
  • Funds reported $1.7B of Sprott Physical Gold and Silver Trust stock for Q2 2025, down 1.9% quarter-over-quarter.
  • 40 funds opened new Sprott Physical Gold and Silver Trust positions in Q2 2025 and 24 closed out, a net change of +16 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q2 2025 was Morgan Stanley, an estimated $25.5M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q2 2025 was Demars Financial Group, an estimated $68.3M sold.

Based on aggregated 13F filings for Q2 2025.