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Sprott Physical Gold and Silver Trust
CEF

197 hedge funds and large institutions have $550M invested in Sprott Physical Gold and Silver Trust in 2018 Q2 according to their latest regulatory filings, with 25 funds opening new positions, 40 increasing their positions, 61 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

79% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 14

5% more funds holding

Funds holding: 187 → 197 (+10)

5.88% less ownership

Funds ownership: 21.98% → 16.09% (-5.9%)

26% less capital invested

Capital invested by funds: $746M → $550M (-$197M)

27% less funds holding in top 10

Funds holding in top 10: 11 → 8 (-3)

34% less repeat investments, than reductions

Existing positions increased: 40 | Existing positions reduced: 61

Holders
197
Holders Change
+10
Holders Change %
+5.35%
% of All Funds
4.51%
Holding in Top 10
8
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-27.27%
% of All Funds
0.18%
New
25
Increased
40
Reduced
61
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$14M
2
CWM
Cornerstone Wealth Management
Missouri
+$8.39M
3
RJA
Raymond James & Associates
Florida
+$7.21M
4
FTIOP
Fiduciary Trust International of Pennsylvania
Pennsylvania
+$6.78M
5
OTC
Opera Trading Capital
France
+$6.29M

Top Sellers

1
PAMP
Polar Asset Management Partners
Ontario, Canada
-$131M
2
WAM
Weiss Asset Management
Massachusetts
-$116M
3
CL
CSS LLC
Illinois
-$5.9M
4
RCM
Rivernorth Capital Management
Florida
-$3.4M
5
Morgan Stanley
Morgan Stanley
New York
-$2.78M
Name Holding Trade Value Shares
Change 		Change in
Stake
PAMP
201
Polar Asset Management Partners
Ontario, Canada
– -$131M -9,893,398 Closed
Goldman Sachs
202
Goldman Sachs
New York
– -$1.32M -100,243 Closed
DAS
203
Dynamic Advisor Solutions
Arizona
– -$732K -55,430 Closed
OMC
204
Old Mission Capital
Illinois
– -$342K -25,906 Closed
WC
205
Wexford Capital
Florida
– -$295K -22,300 Closed
AWA
206
Arete Wealth Advisors
Illinois
– -$240K -18,178 Closed
SWM
207
SVA Wealth Management
Wisconsin
– -$205K -16,150 Closed
FCMC
208
Founders Capital Management (Connecticut)
Connecticut
– -$205K -15,203 Closed
PS
209
Portfolio Strategies
New York
– -$65K -4,950 Closed
PS
210
Portfolio Solutions
Michigan
– -$20K -1,506 Closed
PA
211
Parallel Advisors
California
– -$12K -932 Closed
GI
212
Gradient Investments
Minnesota
– -$10K -780 Closed
CS
213
Credential Securities
– -$7.87K -600 Closed
AAP
214
Arax Advisory Partners
Colorado
– -$6K -480 Closed
KJWM
215
Kiley Juergens Wealth Management
Washington
– +$6.82K +516 New
5 6 7 8
9

CEF Hedge Fund Activity: Q2 2018 in Review

197 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q2 2018, worth a combined $550M — down 26% from $746M a quarter earlier.

Buyers outnumbered sellers: 25 funds opened new CEF positions and 14 closed out — a net gain of 11 holders — while 40 added to existing stakes and 61 trimmed.

The largest buyer was T. Rowe Price Associates, opening a new position worth an estimated $14M. The largest seller was Polar Asset Management Partners, exiting entirely with an estimated $131M sold.

  • 197 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q2 2018, up from 187 in Q1 2018.
  • Funds reported $550M of Sprott Physical Gold and Silver Trust stock for Q2 2018, down 26% quarter-over-quarter.
  • 25 funds opened new Sprott Physical Gold and Silver Trust positions in Q2 2018 and 14 closed out, a net change of +11 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q2 2018 was T. Rowe Price Associates, an estimated $14M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q2 2018 was Polar Asset Management Partners, an estimated $131M sold.

Based on aggregated 13F filings for Q2 2018.