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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
+$301M |
| 2 |
IMC Chicago
Chicago,
Illinois
|
+$77.8M |
| 3 |
Jane Street
New York
|
+$16.1M |
| 4 |
KAS
Kestra Advisory Services
Austin,
Texas
|
+$10.6M |
| 5 |
HCM
Hengehold Capital Management
Cincinnati,
Ohio
|
+$10.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WCM
Wealthcare Capital Management
Richmond,
Virginia
|
-$15.6M |
| 2 |
WMWM
Whitaker-Myers Wealth Managers
Mansfield,
Ohio
|
-$15.4M |
| 3 |
MG
Marex Group
London,
|
-$14.6M |
| 4 |
BCM
Barometer Capital Management
Toronto,
Ontario, Canada
|
-$10.8M |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
-$9.75M |
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.