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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
JFA
176
JNBA Financial Advisors
Minnesota
$6K +$5.46K +460 New
RFM
177
Royal Fund Management
Florida
$5K – – –
BAM
178
Barrett Asset Management
New York
$3K – – –
HNB
179
Huntington National Bank
Ohio
$3K – – –
EWM
180
Executive Wealth Management
Michigan
$3K +$2.37K +200 New
TRCT
181
Tower Research Capital (TRC)
New York
$1K – – –
TWM
182
Titus Wealth Management
California
$943 -$180K -15,200 -17%
JIP
183
Jaffetilchin Investment Partners
Florida
– -$6.02M -515,158 Closed
FTIOP
184
Fiduciary Trust International of Pennsylvania
Pennsylvania
– -$5.99M -512,800 Closed
Jane Street
185
Jane Street
New York
– -$1.56M -133,361 Closed
JMPWA
186
JP Morgan Private Wealth Advisors
California
– -$1.24M -105,873 Closed
William Blair & Company
187
William Blair & Company
Illinois
– -$476K -40,746 Closed
Citadel Advisors
188
Citadel Advisors
Florida
– -$313K -26,763 Closed
Envestnet Asset Management
189
Envestnet Asset Management
Illinois
– -$297K -25,422 Closed
VF
190
Virtu Financial
New York
– -$241K -20,609 Closed
Millennium Management
191
Millennium Management
New York
– -$218K -18,638 Closed
BEAM
192
Baker Ellis Asset Management
Washington
– -$216K -18,500 Closed
Bank of New York Mellon
193
Bank of New York Mellon
New York
– -$213K -18,200 Closed
TSS
194
Two Sigma Securities
New York
– -$186K -15,890 Closed
CNB
195
Camden National Bank
Maine
– -$138K -11,792 Closed
CRC
196
Curi RMB Capital
Illinois
– -$134K -11,500 Closed
TAM
197
Tocqueville Asset Management
New York
– -$123K -10,500 Closed
CHA
198
Carmichael Hill & Associates
Maryland
– -$119K -10,204 Closed
CFG
199
Citizens Financial Group
Rhode Island
– -$64K -5,504 Closed
PS
200
Portfolio Strategies
New York
– -$58K -4,950 Closed
5 6 7
8
9

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.