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Sprott Physical Gold and Silver Trust
CEF

294 hedge funds and large institutions have $1.42B invested in Sprott Physical Gold and Silver Trust in 2023 Q4 according to their latest regulatory filings, with 29 funds opening new positions, 70 increasing their positions, 96 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

26% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 23

9% more capital invested

Capital invested by funds: $1.3B → $1.42B (+$114M)

2.01% more ownership

Funds ownership: 32.9% → 34.91% (+2%)

2% more funds holding

Funds holding: 289 → 294 (+5)

13% less funds holding in top 10

Funds holding in top 10: 16 → 14 (-2)

27% less repeat investments, than reductions

Existing positions increased: 70 | Existing positions reduced: 96

Holders
294
Holders Change
+5
Holders Change %
+1.73%
% of All Funds
4.29%
Holding in Top 10
14
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-12.5%
% of All Funds
0.2%
New
29
Increased
70
Reduced
96
Closed
23
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$55.8M
2
BCM
Bluefin Capital Management
New York
+$39.6M
3
Ameriprise
Ameriprise
Minnesota
+$11.5M
4
Jane Street
Jane Street
New York
+$6.2M
5
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
+$4.65M

Top Sellers

1
PI
PFG Investments
New York
-$8.76M
2
MGWM
Marks Group Wealth Management
Minnesota
-$6.41M
3
JAM
Jupiter Asset Management
United Kingdom
-$6.2M
4
HHGC
Hunting Hill Global Capital
New York
-$4.87M
5
PCM
PenderFund Capital Management
British Columbia, Canada
-$4.71M
Name Holding Trade Value Shares
Change 		Change in
Stake
PFS
176
Prospera Financial Services
Texas
$359K – – –
WS
177
Wedbush Securities
California
$341K +$25.8K +1,400 +9%
MAS
178
Madden Advisory Services
Florida
$340K -$74.4K -4,035 -19%
AIP
179
Almanack Investment Partners
Pennsylvania
$335K – – –
WCM
180
WealthBridge Capital Management
Ohio
$332K – – –
PA
181
Procyon Advisors
Connecticut
$331K – – –
M&T Bank
182
M&T Bank
New York
$328K +$73.9K +4,009 +31%
WWC
183
Waypoint Wealth Counsel
Georgia
$327K – – –
JWCA
184
J.W. Cole Advisors
Florida
$321K – – –
RCAG
185
Rehmann Capital Advisory Group
Michigan
$314K +$25.8K +1,400 +9%
SCA
186
Sandy Cove Advisors
Massachusetts
$308K +$92.2K +5,000 +45%
KWA
187
Kellett Wealth Advisors
Ohio
$303K -$18 -1 -0%
STA
188
Summit Trail Advisors
New York
$301K +$13.4K +725 +5%
MI
189
Motiv8 Investments
Florida
$296K +$285K +15,450 New
AF
190
Advisornet Financial
Minnesota
$295K -$1.84K -100 -0.6%
IWN
191
Independent Wealth Network
Iowa
$291K -$5.74K -311 -2%
IFO
192
Independent Family Office
New York
$290K – – –
MW
193
MBL Wealth
North Carolina
$282K -$30K -1,625 -10%
AIS
194
American Investment Services
Massachusetts
$281K -$3.6K -195 -1%
IAMOG
195
Investors Asset Management of Georgia
Georgia
$273K -$8.3K -450 -3%
MFG
196
Midwest Financial Group
Kansas
$266K -$49.8K -2,700 -16%
Citadel Advisors
197
Citadel Advisors
Florida
$264K +$254K +13,774 New
PCIA
198
Prime Capital Investment Advisors
Kansas
$262K -$48.9K -2,650 -16%
MLA
199
MB, Levis & Associates
Pennsylvania
$262K – – –
XT
200
XTX Topco
Cayman Islands
$240K +$231K +12,544 New
6 7
8
9 10

CEF Hedge Fund Activity: Q4 2023 in Review

294 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2023, worth a combined $1.42B — up 8.7% from $1.3B a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new CEF positions and 23 closed out — a net gain of 6 holders — while 70 added to existing stakes and 96 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $55.8M. The largest seller was PFG Investments, exiting entirely with an estimated $8.76M sold.

  • 294 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q4 2023, up from 289 in Q3 2023.
  • Funds reported $1.42B of Sprott Physical Gold and Silver Trust stock for Q4 2023, up 8.7% quarter-over-quarter.
  • 29 funds opened new Sprott Physical Gold and Silver Trust positions in Q4 2023 and 23 closed out, a net change of +6 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q4 2023 was Morgan Stanley, an estimated $55.8M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q4 2023 was PFG Investments, an estimated $8.76M sold.

Based on aggregated 13F filings for Q4 2023.