Sprott Physical Gold
PHYS
543 hedge funds and large institutions have $3.02B invested in Sprott Physical Gold in 2025 Q1 according to their latest regulatory filings, with 84 funds opening new positions, 159 increasing their positions, 144 reducing their positions, and 31 closing their positions.
171% more first-time investments, than exits
New positions opened: 84 | Existing positions closed: 31
36% more capital inflows, than outflows
Capital inflows: $257M | Capital outflows: $188M
24% more funds holding in top 10
Funds holding in top 10: 33 → 41 (+8)
10% more repeat investments, than reductions
Existing positions increased: 159 | Existing positions reduced: 144
9% more funds holding
Funds holding: 496 → 543 (+47)
0.34% more ownership
Funds ownership: 29.2% → 29.54% (+0.34%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$27.2M |
| 2 |
Wealth Enhancement Advisory Services
Plymouth,
Minnesota
|
+$14.7M |
| 3 |
Tidal Investments
Milwaukee,
Wisconsin
|
+$13.1M |
| 4 |
Scotia Capital
Toronto,
Ontario, Canada
|
+$9.7M |
| 5 |
Wealthcare Advisory Partners
West Chester,
Pennsylvania
|
+$9.27M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IMC Chicago
Chicago,
Illinois
|
-$42.5M |
| 2 |
Jane Street
New York
|
-$22.5M |
| 3 |
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
-$12.2M |
| 4 |
Kestra Advisory Services
Austin,
Texas
|
-$10M |
| 5 |
Independent Financial Group
San Diego,
California
|
-$8.39M |
PHYS Hedge Fund Activity: Q1 2025 in Review
543 of the 7,489 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold (PHYS) for Q1 2025, worth a combined $3.02B — up 22% from $2.48B a quarter earlier.
Buyers outnumbered sellers: 84 funds opened new PHYS positions and 31 closed out — a net gain of 53 holders — while 159 added to existing stakes and 144 trimmed.
The largest buyer was Royal Bank of Canada, adding an estimated $27.2M. The largest seller was IMC Chicago, cutting an estimated $42.5M.
- 543 institutional investors held Sprott Physical Gold (PHYS) as of Q1 2025, up from 496 in Q4 2024.
- Funds reported $3.02B of Sprott Physical Gold stock for Q1 2025, up 22% quarter-over-quarter.
- 84 funds opened new Sprott Physical Gold positions in Q1 2025 and 31 closed out, a net change of +53 holders.
- The largest Sprott Physical Gold buyer in Q1 2025 was Royal Bank of Canada, an estimated $27.2M added.
- The largest Sprott Physical Gold seller in Q1 2025 was IMC Chicago, an estimated $42.5M sold.
Based on aggregated 13F filings for Q1 2025.