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Sprott Physical Gold
PHYS

556 hedge funds and large institutions have $3.57B invested in Sprott Physical Gold in 2025 Q2 according to their latest regulatory filings, with 57 funds opening new positions, 171 increasing their positions, 177 reducing their positions, and 32 closing their positions.

New
Increased
Maintained
Reduced
Closed

78% more first-time investments, than exits

New positions opened: 57 | Existing positions closed: 32

18% more capital invested

Capital invested by funds: $3.03B → $3.57B (+$543M)

4% more funds holding

Funds holding: 537 → 556 (+19)

0.58% more ownership

Funds ownership: 29.59% → 30.17% (+0.58%)

3% less repeat investments, than reductions

Existing positions increased: 171 | Existing positions reduced: 177

7% less funds holding in top 10

Funds holding in top 10: 41 → 38 (-3)

Holders
556
Holders Change
+19
Holders Change %
+3.54%
% of All Funds
7.32%
Holding in Top 10
38
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-7.32%
% of All Funds
0.5%
New
57
Increased
171
Reduced
177
Closed
32
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PAMP
Polar Asset Management Partners
Ontario, Canada
+$301M
2
IMC Chicago
IMC Chicago
Illinois
+$77.8M
3
Jane Street
Jane Street
New York
+$16.1M
4
KAS
Kestra Advisory Services
Texas
+$10.6M
5
HCM
Hengehold Capital Management
Ohio
+$10.4M

Top Sellers

Rank Fund Capital Flow
1
WCM
Wealthcare Capital Management
Virginia
-$15.6M
2
WMWM
Whitaker-Myers Wealth Managers
Ohio
-$15.4M
3
MG
Marex Group
-$14.6M
4
BCM
Barometer Capital Management
Ontario, Canada
-$10.8M
5
Raymond James Financial
Raymond James Financial
Florida
-$9.75M
Name Holding Trade Value Shares
Change 		Change in
Stake
ACA
451
Atlas Capital Advisors
Wyoming
$228K – – –
SL
452
Sentinus LLC
Illinois
$227K -$302 -12 -0.1%
SIMG
453
Sonora Investment Management Group
Arizona
$227K – – –
DI
454
Diligent Investors
California
$226K – – –
HH
455
Hilltop Holdings
Texas
$224K -$1.26K -50 -0.6%
PCFFS
456
Pacific Center for Financial Services
California
$222K – – –
CCP
457
Cushing Capital Partners
Wisconsin
$222K – – –
PC
458
Pecaut & Co
Iowa
$221K – – –
AAIM
459
Asset Advisors Investment Management
Georgia
$218K – – –
RWP
460
RWA Wealth Partners
Massachusetts
$215K +$214K +8,500 New
BFA
461
Beacon Financial Advisory
Ohio
$213K +$211K +8,398 New
HWM
462
HB Wealth Management
Georgia
$211K +$209K +8,337 New
ST
463
Smithfield Trust
Pennsylvania
$211K +$54.7K +2,175 +35%
NRC
464
New Republic Capital
North Carolina
$211K – – –
BA
465
Ballew Advisors
Mississippi
$210K – – –
CHAM
466
Clear Harbor Asset Management
Connecticut
$210K +$208K +8,283 New
PCIA
467
Prime Capital Investment Advisors
Kansas
$209K -$721K -28,711 -78%
LNB
468
Ledyard National Bank
$208K +$206K +8,187 New
FFM
469
Forum Financial Management
Illinois
$207K +$205K +8,169 New
RSWA
470
Robinson Smith Wealth Advisors
Maine
$203K +$201K +8,000 New
SFWA
471
Summit Financial Wealth Advisors
Louisiana
$203K +$201K +8,000 New
TFA
472
Tranquilli Financial Advisor
New Jersey
$203K +$201K +8,000 New
UWP
473
Uniting Wealth Partners
Kansas
$203K +$201K +8,000 New
ACG
474
Allen Capital Group
Nebraska
$202K +$200K +7,958 New
PS
475
Principal Securities
Iowa
$189K +$179K +7,129 +2,307%
17 18
19
20 21

PHYS Hedge Fund Activity: Q2 2025 in Review

556 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold (PHYS) for Q2 2025, worth a combined $3.57B — up 18% from $3.03B a quarter earlier.

Buyers outnumbered sellers: 57 funds opened new PHYS positions and 32 closed out — a net gain of 25 holders — while 171 added to existing stakes and 177 trimmed.

The largest buyer was Polar Asset Management Partners, adding an estimated $301M. The largest seller was Wealthcare Capital Management, cutting an estimated $15.6M.

  • 556 institutional investors held Sprott Physical Gold (PHYS) as of Q2 2025, up from 537 in Q1 2025.
  • Funds reported $3.57B of Sprott Physical Gold stock for Q2 2025, up 18% quarter-over-quarter.
  • 57 funds opened new Sprott Physical Gold positions in Q2 2025 and 32 closed out, a net change of +25 holders.
  • The largest Sprott Physical Gold buyer in Q2 2025 was Polar Asset Management Partners, an estimated $301M added.
  • The largest Sprott Physical Gold seller in Q2 2025 was Wealthcare Capital Management, an estimated $15.6M sold.

Based on aggregated 13F filings for Q2 2025.