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Sprott Physical Gold and Silver Trust

188 hedge funds and large institutions have $664M 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.

New
Increased
Maintained
Reduced
Closed

28% more first-time investments, than exits

New positions opened: 32 | Existing positions closed: 25

2% more funds holding

Funds holding: 185188 (+3)

1% less capital invested

Capital invested by funds: $674M → $664M (-$9.45M)

1.02% less ownership

Funds ownership: 19.02%18% (-1%)

8% less funds holding in top 10

Funds holding in top 10: 1211 (-1)

40% less repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 70

Holders
188
Holders Change
+3
Holders Change %
+1.62%
% of All Funds
5.01%
Holding in Top 10
11
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-8.33%
% of All Funds
0.29%
New
32
Increased
42
Reduced
70
Closed
25
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
SAC
1
Smith Affiliated Capital
New York
$80.2M
Morgan Stanley
2
Morgan Stanley
New York
$56.7M +$15M +1,263,890 +35%
ACM
3
Americafirst Capital Management
California
$52.1M +$53.4K +4,500 New
Parallax Volatility Advisers
4
Parallax Volatility Advisers
California
$50.8M +$2.1M +177,192 +4%
Allianz Asset Management
5
Allianz Asset Management
Germany
$47.5M +$2.19M +185,000 +5%
Capstone Investment Advisors
6
Capstone Investment Advisors
New York
$30.2M +$23.9M +2,013,873 +339%
PAMP
7
Polar Asset Management Partners
Ontario, Canada
$21.3M -$12M -1,008,648 -35%
Wells Fargo
8
Wells Fargo
California
$15.5M +$2.65M +223,414 +20%
Royal Bank of Canada
9
Royal Bank of Canada
Ontario, Canada
$12.8M -$2.12M -179,112 -14%
AGM
10
Alpine Global Management
New York
$12.7M +$11.1M +939,687 +589%
Bank of America
11
Bank of America
North Carolina
$11.4M +$8.75M +737,614 +300%
EAM
12
Evanson Asset Management
California
$10.2M +$1.52M +128,534 +17%
CVM
13
Cheviot Value Management
California
$10M -$104K -8,765 -1%
Citigroup
14
Citigroup
New York
$9.9M -$3.57M -301,284 -26%
LPL Financial
15
LPL Financial
California
$8.97M -$785K -66,218 -8%
COLIM
16
City of London Investment Management
United Kingdom
$8.89M +$9.1M +767,313 New
PHS
17
Pekin Hardy Strauss
Illinois
$8.16M -$3.26M -275,228 -28%
PP
18
Paloma Partners
Connecticut
$7.76M +$2.02M +170,000 +34%
AII
19
AGF Investments Inc
Ontario, Canada
$7.65M -$771K -65,000 -9%
RCM
20
Rivernorth Capital Management
Florida
$7.61M +$1.02M +85,662 +15%
HighTower Advisors
21
HighTower Advisors
Illinois
$7.45M +$3.4M +286,785 +80%
BFA
22
Beaumont Financial Advisors
Massachusetts
$7.21M -$4.6M -387,803 -38%
RJA
23
Raymond James & Associates
Florida
$7.19M -$511K -43,064 -6%
ECM
24
Evergreen Capital Management
Washington
$7.06M -$4.45K -375 -0.1%
LCM
25
Landscape Capital Management
New Jersey
$7.04M +$649K +54,754 +10%

CEF Hedge Fund Activity: Q4 2014 in Review

188 of the 3,749 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q4 2014, worth a combined $664M — down 1.4% 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 $664M of Sprott Physical Gold and Silver Trust stock for Q4 2014, down 1.4% 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.