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Sprott Physical Silver Trust
PSLV

81 hedge funds and large institutions have $114M invested in Sprott Physical Silver Trust in 2013 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 16 increasing their positions, 30 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

50% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 10

7% more funds holding

Funds holding: 76 → 81 (+5)

0.57% more ownership

Funds ownership: 7.41% → 7.98% (+0.57%)

11% less capital invested

Capital invested by funds: $128M → $114M (-$14.7M)

47% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 30

Holders
81
Holders Change
+5
Holders Change %
+6.58%
% of All Funds
2.35%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.09%
New
15
Increased
16
Reduced
30
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$11.5M
2
OFG
OTA Financial Group
New York
+$3.41M
3
MLIM
Mountain Lake Investment Management
Florida
+$2.04M
4
PP
Paloma Partners
Connecticut
+$1.45M
5
CAN
Cetera Advisor Networks
California
+$852K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$5.76M
2
Goldman Sachs
Goldman Sachs
New York
-$4.32M
3
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$1.69M
4
PG
Portola Group
California
-$847K
5
PHS
Pekin Hardy Strauss
Illinois
-$754K
Name Holding Trade Value Shares
Change 		Change in
Stake
HighTower Advisors
26
HighTower Advisors
Illinois
$346K -$278K -33,579 -42%
YP
27
Yellowstone Partners
Idaho
$310K +$339K +41,000 New
OC
28
Oppenheimer & Co
New York
$308K +$74.4K +9,000 +28%
Commonwealth Equity Services
29
Commonwealth Equity Services
Massachusetts
$260K +$5.79K +700 +2%
PNC Financial Services Group
30
PNC Financial Services Group
Pennsylvania
$255K +$100K +12,100 +56%
Neuberger Berman Group
31
Neuberger Berman Group
New York
$247K – – –
Bank of Montreal
32
Bank of Montreal
Ontario, Canada
$229K +$4.96K +600 +2%
CBB
33
Citizens Business Bank
California
$223K +$40K +4,833 +20%
KIA
34
King Investment Advisors
Texas
$213K – – –
Cambridge Investment Research Advisors
35
Cambridge Investment Research Advisors
Iowa
$210K +$16.6K +2,005 +8%
Nomura Holdings
36
Nomura Holdings
Japan
$198K -$6.2K -750 -3%
OAM
37
Orinda Asset Management
California
$198K – – –
HH
38
Hilltop Holdings
Texas
$180K -$97.6K -11,800 -33%
LW
39
Linscomb Wealth
Texas
$166K +$331 +40 +0.2%
WA
40
WFG Advisors
Texas
$151K -$144K -17,450 -47%
NES
41
New England Securities
New York
$146K – – –
Bank of New York Mellon
42
Bank of New York Mellon
New York
$140K -$25K -3,020 -14%
LTFS
43
Ladenburg Thalmann Financial Services
Florida
$134K -$12.4K -1,500 -8%
VKH
44
Virtu KCG Holdings
New York
$130K -$170K -20,524 -54%
William Blair & Company
45
William Blair & Company
Illinois
$125K -$8.27K -1,000 -6%
MFW
46
Meristem Family Wealth
Minnesota
$123K +$135K +16,300 New
FIM
47
Frontier Investment Management
Texas
$122K -$1.65K -200 -1%
CNB
48
City National Bank
California
$118K +$129K +15,650 New
SC
49
Scotia Capital
Ontario, Canada
$116K -$19.4K -2,350 -13%
VF
50
Virtu Financial
New York
$114K +$124K +15,006 New
1
2
3 4

PSLV Hedge Fund Activity: Q4 2013 in Review

81 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Silver Trust (PSLV) for Q4 2013, worth a combined $114M — down 11% from $128M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new PSLV positions and 10 closed out — a net gain of 5 holders — while 16 added to existing stakes and 30 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $11.5M. The largest seller was Morgan Stanley, cutting an estimated $5.76M.

  • 81 institutional investors held Sprott Physical Silver Trust (PSLV) as of Q4 2013, up from 76 in Q3 2013.
  • Funds reported $114M of Sprott Physical Silver Trust stock for Q4 2013, down 11% quarter-over-quarter.
  • 15 funds opened new Sprott Physical Silver Trust positions in Q4 2013 and 10 closed out, a net change of +5 holders.
  • The largest Sprott Physical Silver Trust buyer in Q4 2013 was JP Morgan Chase, an estimated $11.5M added.
  • The largest Sprott Physical Silver Trust seller in Q4 2013 was Morgan Stanley, an estimated $5.76M sold.

Based on aggregated 13F filings for Q4 2013.