Sprott Physical Gold and Silver Trust
188 hedge funds and large institutions have $612M invested in Sprott Physical Gold and Silver Trust in 2014 Q4 according to their latest regulatory filings, with 32 funds opening new positions, 42 increasing their positions, 70 reducing their positions, and 25 closing their positions.
28% more first-time investments, than exits
New positions opened: 32 | Existing positions closed: 25
2% more funds holding
Funds holding: 185 → 188 (+3)
1.02% less ownership
Funds ownership: 19.02% → 18% (-1%)
8% less funds holding in top 10
Funds holding in top 10: 12 → 11 (-1)
9% less capital invested
Capital invested by funds: $674M → $612M (-$61.5M)
40% less repeat investments, than reductions
Existing positions increased: 42 | Existing positions reduced: 70
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capstone Investment Advisors
New York
|
+$23.9M |
| 2 |
Morgan Stanley
New York
|
+$15M |
| 3 |
AGM
Alpine Global Management
New York
|
+$11.1M |
| 4 |
COLIM
City of London Investment Management
London,
United Kingdom
|
+$9.1M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$8.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$18.2M |
| 2 |
EPIM
Equinox Partners Investment Management
Stamford,
Connecticut
|
-$16.5M |
| 3 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$14.7M |
| 4 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
-$12M |
| 5 |
VFAM
Valley Forge Asset Management
King Of Prussia,
Pennsylvania
|
-$8.48M |
CEF Hedge Fund Activity: Q4 2014 in Review
188 of the 3,765 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2014, worth a combined $612M — down 9.1% from $674M a quarter earlier.
Buyers outnumbered sellers: 32 funds opened new CEF positions and 25 closed out — a net gain of 7 holders — while 42 added to existing stakes and 70 trimmed.
The largest buyer was Capstone Investment Advisors, adding an estimated $23.9M. The largest seller was Millennium Management, exiting entirely with an estimated $18.2M sold.
- 188 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q4 2014, up from 185 in Q3 2014.
- Funds reported $612M of Sprott Physical Gold and Silver Trust stock for Q4 2014, down 9.1% quarter-over-quarter.
- 32 funds opened new Sprott Physical Gold and Silver Trust positions in Q4 2014 and 25 closed out, a net change of +7 holders.
- The largest Sprott Physical Gold and Silver Trust buyer in Q4 2014 was Capstone Investment Advisors, an estimated $23.9M added.
- The largest Sprott Physical Gold and Silver Trust seller in Q4 2014 was Millennium Management, an estimated $18.2M sold.
Based on aggregated 13F filings for Q4 2014.