Sprott Physical Gold
PHYS
583 hedge funds and large institutions have $3.98B invested in Sprott Physical Gold in 2025 Q3 according to their latest regulatory filings, with 56 funds opening new positions, 197 increasing their positions, 138 reducing their positions, and 22 closing their positions.
155% more first-time investments, than exits
New positions opened: 56 | Existing positions closed: 22
43% more repeat investments, than reductions
Existing positions increased: 197 | Existing positions reduced: 138
4% more funds holding
Funds holding: 558 → 583 (+25)
0% more funds holding in top 10
Funds holding in top 10: 38 → 38 (0)
1.29% less ownership
Funds ownership: 30.17% → 28.88% (-1.3%)
35% less capital inflows, than outflows
Capital inflows: $274M | Capital outflows: $420M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jupiter Asset Management
London,
United Kingdom
|
+$23.8M |
| 2 |
Beacon Pointe Advisors
Newport Beach,
California
|
+$22.8M |
| 3 |
Marex Group
London,
|
+$16.7M |
| 4 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$15.6M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$14.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
-$166M |
| 2 |
IMC Chicago
Chicago,
Illinois
|
-$82.2M |
| 3 |
Jane Street
New York
|
-$34.5M |
| 4 |
3AM
3EDGE Asset Management
Naples,
Florida
|
-$17.2M |
| 5 |
WCM
Wealthcare Capital Management
Richmond,
Virginia
|
-$12.1M |
PHYS Hedge Fund Activity: Q3 2025 in Review
583 of the 7,647 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold (PHYS) for Q3 2025, worth a combined $3.98B — up 11% from $3.57B a quarter earlier.
Buyers outnumbered sellers: 56 funds opened new PHYS positions and 22 closed out — a net gain of 34 holders — while 197 added to existing stakes and 138 trimmed.
The largest buyer was Jupiter Asset Management, adding an estimated $23.8M. The largest seller was Polar Asset Management Partners, cutting an estimated $166M.
- 583 institutional investors held Sprott Physical Gold (PHYS) as of Q3 2025, up from 558 in Q2 2025.
- Funds reported $3.98B of Sprott Physical Gold stock for Q3 2025, up 11% quarter-over-quarter.
- 56 funds opened new Sprott Physical Gold positions in Q3 2025 and 22 closed out, a net change of +34 holders.
- The largest Sprott Physical Gold buyer in Q3 2025 was Jupiter Asset Management, an estimated $23.8M added.
- The largest Sprott Physical Gold seller in Q3 2025 was Polar Asset Management Partners, an estimated $166M sold.
Based on aggregated 13F filings for Q3 2025.