Sprott Physical Gold and Silver Trust
194 hedge funds and large institutions have $799M invested in Sprott Physical Gold and Silver Trust in 2013 Q4 according to their latest regulatory filings, with 40 funds opening new positions, 36 increasing their positions, 76 reducing their positions, and 17 closing their positions.
135% more first-time investments, than exits
New positions opened: 40 | Existing positions closed: 17
11% more funds holding
Funds holding: 174 → 194 (+20)
1.76% more ownership
Funds ownership: 19.48% → 21.23% (+1.8%)
2% less capital invested
Capital invested by funds: $819M → $799M (-$19.4M)
7% less funds holding in top 10
Funds holding in top 10: 15 → 14 (-1)
53% less repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 76
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Parallax Volatility Advisers
San Francisco,
California
|
+$50.1M |
| 2 |
FAM
Forty4 Asset Management
Chicago,
Illinois
|
+$20.9M |
| 3 |
ECM
Evergreen Capital Management
Bellevue,
Washington
|
+$7.87M |
| 4 |
SG Americas Securities
New York
|
+$6.88M |
| 5 |
U
UBS
Zurich,
Switzerland
|
+$5.42M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCMB
Revelation Capital Management (Bermuda)
Hamilton,
Bermuda
|
-$8.51M |
| 2 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$7.94M |
| 3 |
BFA
Beaumont Financial Advisors
Needham,
Massachusetts
|
-$5.51M |
| 4 |
SCM
Seamans Capital Management
Boston,
Massachusetts
|
-$5.23M |
| 5 |
AII
AGF Investments Inc
Toronto,
Ontario, Canada
|
-$4.98M |
CEF Hedge Fund Activity: Q4 2013 in Review
194 of the 3,459 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2013, worth a combined $799M — down 2.4% from $819M a quarter earlier.
Buyers outnumbered sellers: 40 funds opened new CEF positions and 17 closed out — a net gain of 23 holders — while 36 added to existing stakes and 76 trimmed.
The largest buyer was Parallax Volatility Advisers, opening a new position worth an estimated $50.1M. The largest seller was Revelation Capital Management (Bermuda), cutting an estimated $8.51M.
- 194 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q4 2013, up from 174 in Q3 2013.
- Funds reported $799M of Sprott Physical Gold and Silver Trust stock for Q4 2013, down 2.4% quarter-over-quarter.
- 40 funds opened new Sprott Physical Gold and Silver Trust positions in Q4 2013 and 17 closed out, a net change of +23 holders.
- The largest Sprott Physical Gold and Silver Trust buyer in Q4 2013 was Parallax Volatility Advisers, an estimated $50.1M added.
- The largest Sprott Physical Gold and Silver Trust seller in Q4 2013 was Revelation Capital Management (Bermuda), an estimated $8.51M sold.
Based on aggregated 13F filings for Q4 2013.