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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
DWM
151
Dakota Wealth Management
Florida
$3.07M +$802K +31,908 +36%
AC
152
AlphaCore Capital
California
$3.06M +$1.51M +60,000 +99%
DC
153
Davenport & Co
Virginia
$2.98M +$604K +24,051 +26%
GVAG
154
Great Valley Advisor Group
Delaware
$2.97M -$917K -36,487 -24%
RDWM
155
Red Door Wealth Management
Tennessee
$2.92M +$9.57K +381 +0.3%
SWM
156
Spire Wealth Management
Virginia
$2.81M -$386K -15,353 -12%
CW
157
CreativeOne Wealth
Kansas
$2.8M +$1.02M +40,777 +59%
PVI
158
Pine Valley Investments
New Jersey
$2.75M -$12.5K -496 -0.5%
MC
159
Moors & Cabot
Massachusetts
$2.72M -$908K -36,155 -25%
IAS
160
Insigneo Advisory Services
Florida
$2.64M +$74.2K +2,951 +3%
BW
161
BIP Wealth
Georgia
$2.63M -$15.4K -612 -0.6%
QPWM
162
Quadrant Private Wealth Management
Pennsylvania
$2.57M +$50.3K +2,000 +2%
ADBIC
163
A.D. Beadell Investment Counsel
Wisconsin
$2.55M -$36K -1,432 -1%
SIM
164
Seaview Investment Managers
Florida
$2.48M -$239K -9,500 -9%
BAM
165
Belpointe Asset Management
Nevada
$2.45M +$76.6K +3,050 +3%
GWANC
166
Guardian Wealth Advisors (North Carolina)
North Carolina
$2.43M +$183K +7,263 +8%
FT
167
Fiduciary Trust
Massachusetts
$2.42M +$1.15M +45,751 +92%
AC
168
Apella Capital
Connecticut
$2.35M -$110K -4,396 -5%
AWE
169
Avidian Wealth Enterprises
Texas
$2.34M +$19.4K +772 +0.8%
NA
170
NewEdge Advisors
Louisiana
$2.32M +$697K +27,724 +44%
CCMW
171
Cypress Capital Management (Wyoming)
Wyoming
$2.27M -$641K -25,504 -22%
BFS
172
Bard Financial Services
Connecticut
$2.26M – – –
CIBC Private Wealth Group
173
CIBC Private Wealth Group
Georgia
$2.26M +$158K +6,282 +8%
BHWM
174
Beaird Harris Wealth Management
Texas
$2.25M – – –
MF
175
Montis Financial
Massachusetts
$2.23M -$65.3K -2,600 -3%
5 6
7
8 9

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.