Sprott Physical Gold and Silver Trust
CEF
185 hedge funds and large institutions have $85.8B invested in Sprott Physical Gold and Silver Trust in 2014 Q1 according to their latest regulatory filings, with 14 funds opening new positions, 46 increasing their positions, 70 reducing their positions, and 23 closing their positions.
4% more capital invested
Capital invested by funds: $82.6B → $85.8B (+$3.26B)
1.17% less ownership
Funds ownership: 21.23% → 20.07% (-1.2%)
5% less funds holding
Funds holding: 194 → 185 (-9)
14% less funds holding in top 10
Funds holding in top 10: 14 → 12 (-2)
34% less repeat investments, than reductions
Existing positions increased: 46 | Existing positions reduced: 70
39% less first-time investments, than exits
New positions opened: 14 | Existing positions closed: 23
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$13.7M |
| 2 |
BC
BMI Capital
New York
|
+$7.16M |
| 3 |
Parallax Volatility Advisers
San Francisco,
California
|
+$5.33M |
| 4 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$4.13M |
| 5 |
PHS
Pekin Hardy Strauss
Chicago,
Illinois
|
+$3.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FAM
Forty4 Asset Management
Chicago,
Illinois
|
-$26.4M |
| 2 |
RA
Royce & Associates
New York
|
-$17.1M |
| 3 |
SG Americas Securities
New York
|
-$6.78M |
| 4 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$5.2M |
| 5 |
RCMB
Revelation Capital Management (Bermuda)
Hamilton,
Bermuda
|
-$5.15M |
CEF Hedge Fund Activity: Q1 2014 in Review
185 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q1 2014, worth a combined $85.8B — up 3.9% from $82.6B a quarter earlier.
Sellers outnumbered buyers: 23 funds closed out of CEF and 14 opened new positions — a net loss of 9 holders — while 70 trimmed existing stakes and 46 added.
The largest buyer was Millennium Management, adding an estimated $13.7M. The largest seller was Forty4 Asset Management, cutting an estimated $26.4M.
- 185 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q1 2014, down from 194 in Q4 2013.
- Funds reported $85.8B of Sprott Physical Gold and Silver Trust stock for Q1 2014, up 3.9% quarter-over-quarter.
- 14 funds opened new Sprott Physical Gold and Silver Trust positions in Q1 2014 and 23 closed out, a net change of -9 holders.
- The largest Sprott Physical Gold and Silver Trust buyer in Q1 2014 was Millennium Management, an estimated $13.7M added.
- The largest Sprott Physical Gold and Silver Trust seller in Q1 2014 was Forty4 Asset Management, an estimated $26.4M sold.
Based on aggregated 13F filings for Q1 2014.