Sprott Physical Gold and Silver Trust
406 hedge funds and large institutions have $2.13B invested in Sprott Physical Gold and Silver Trust in 2025 Q3 according to their latest regulatory filings, with 53 funds opening new positions, 107 increasing their positions, 105 reducing their positions, and 19 closing their positions.
179% more first-time investments, than exits
New positions opened: 53 | Existing positions closed: 19
66% more capital inflows, than outflows
Capital inflows: $146M | Capital outflows: $87.8M
18% more funds holding in top 10
Funds holding in top 10: 11 → 13 (+2)
8% more funds holding
Funds holding: 377 → 406 (+29)
2% more repeat investments, than reductions
Existing positions increased: 107 | Existing positions reduced: 105
0.95% more ownership
Funds ownership: 29.09% → 30.04% (+0.95%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$36M |
| 2 |
Jupiter Asset Management
London,
United Kingdom
|
+$26.1M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$10.8M |
| 4 |
LPL Financial
San Diego,
California
|
+$6.06M |
| 5 |
Janney Montgomery Scott
Philadelphia,
Pennsylvania
|
+$5.43M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Parallax Volatility Advisers
San Francisco,
California
|
-$19.3M |
| 2 |
3EDGE Asset Management
Naples,
Florida
|
-$17.6M |
| 3 |
IAIM
International Assets Investment Management
Orlando,
Florida
|
-$5.32M |
| 4 |
GWN Securities
Palm Beach Gardens,
Florida
|
-$4.46M |
| 5 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$4.03M |
CEF Hedge Fund Activity: Q3 2025 in Review
406 of the 7,650 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q3 2025, worth a combined $2.13B — up 25% from $1.7B a quarter earlier.
Buyers outnumbered sellers: 53 funds opened new CEF positions and 19 closed out — a net gain of 34 holders — while 107 added to existing stakes and 105 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $36M. The largest seller was Parallax Volatility Advisers, exiting entirely with an estimated $19.3M sold.
- 406 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q3 2025, up from 377 in Q2 2025.
- Funds reported $2.13B of Sprott Physical Gold and Silver Trust stock for Q3 2025, up 25% quarter-over-quarter.
- 53 funds opened new Sprott Physical Gold and Silver Trust positions in Q3 2025 and 19 closed out, a net change of +34 holders.
- The largest Sprott Physical Gold and Silver Trust buyer in Q3 2025 was Morgan Stanley, an estimated $36M added.
- The largest Sprott Physical Gold and Silver Trust seller in Q3 2025 was Parallax Volatility Advisers, an estimated $19.3M sold.
Based on aggregated 13F filings for Q3 2025.