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Sprott Physical Silver Trust
PSLV

76 hedge funds and large institutions have $91M invested in Sprott Physical Silver Trust in 2014 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 18 increasing their positions, 24 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

1.22% less ownership

Funds ownership: 7.98% → 6.76% (-1.2%)

6% less funds holding

Funds holding: 81 → 76 (-5)

20% less capital invested

Capital invested by funds: $114M → $91M (-$22.8M)

25% less repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 24

38% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 13

67% less funds holding in top 10

Funds holding in top 10: 3 → 1 (-2)

Holders
76
Holders Change
-5
Holders Change %
-6.17%
% of All Funds
2.2%
Holding in Top 10
1
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-66.67%
% of All Funds
0.03%
New
8
Increased
18
Reduced
24
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$5.73M
2
CS
Credit Suisse
Switzerland
+$2.06M
3
PAG
Private Advisor Group
New Jersey
+$993K
4
HighTower Advisors
HighTower Advisors
Illinois
+$416K
5
VKH
Virtu KCG Holdings
New York
+$205K

Top Sellers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
-$6.41M
2
PG
Portola Group
California
-$2.86M
3
PAMP
Polar Asset Management Partners
Ontario, Canada
-$2.02M
4
AC
Altus Capital
Ohio
-$1.74M
5
PHS
Pekin Hardy Strauss
Illinois
-$1.47M
Name Holding Trade Value Shares
Change 		Change in
Stake
Creative Planning
51
Creative Planning
Kansas
$107K +$20.5K +2,500 +22%
Bank of New York Mellon
52
Bank of New York Mellon
New York
$106K -$41K -5,000 -27%
MA
53
MUFG Americas
New York
$103K – – –
Citadel Advisors
54
Citadel Advisors
Florida
$99K +$103K +12,628 New
CB
55
Commerce Bank
Missouri
$87K – – –
LPT
56
Legacy Private Trust
Wisconsin
$86K – – –
Janney Montgomery Scott
57
Janney Montgomery Scott
Pennsylvania
$85.9K – – –
WA
58
WFG Advisors
Texas
$63K -$98.5K -12,027 -60%
PSI
59
Pinnacle Summer Investments
Virginia
$62K – – –
U
60
UBS
Switzerland
$58K +$46.6K +5,693 +333%
WRM
61
Westport Resources Management
Connecticut
$48K – – –
SSB
62
Sandy Spring Bank
Maryland
$35K – – –
Citigroup
63
Citigroup
New York
$34K -$3.25K -396 -8%
BCI
64
Brinker Capital Investments
Pennsylvania
$25K – – –
TCM
65
Tradewinds Capital Management
Washington
$17K – – –
BCMIO
66
Beacon Capital Management Inc (Ohio)
Ohio
$15K – – –
TRCT
67
Tower Research Capital (TRC)
New York
$15K +$9.83K +1,200 +171%
MFS
68
MSI Financial Services
Massachusetts
$13K -$88.2K -10,765 -86%
Deutsche Bank
69
Deutsche Bank
Germany
$11K – – –
PTC
70
Private Trust Company
Ohio
$11K +$7.55K +922 +200%
US Bancorp
71
US Bancorp
Minnesota
$8K – – –
GI
72
Gradient Investments
Minnesota
$8K +$8.19K +1,000 New
GT
73
Glenmede Trust
Pennsylvania
$7K – – –
M&T Bank
74
M&T Bank
New York
$6K -$2.05K -250 -25%
BBPWM
75
Blue Bell Private Wealth Management
Pennsylvania
$6K – – –
1 2
3
4

PSLV Hedge Fund Activity: Q1 2014 in Review

76 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Silver Trust (PSLV) for Q1 2014, worth a combined $91M — down 20% from $114M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of PSLV and 8 opened new positions — a net loss of 5 holders — while 24 trimmed existing stakes and 18 added.

The largest buyer was Morgan Stanley, adding an estimated $5.73M. The largest seller was Goldman Sachs, cutting an estimated $6.41M.

  • 76 institutional investors held Sprott Physical Silver Trust (PSLV) as of Q1 2014, down from 81 in Q4 2013.
  • Funds reported $91M of Sprott Physical Silver Trust stock for Q1 2014, down 20% quarter-over-quarter.
  • 8 funds opened new Sprott Physical Silver Trust positions in Q1 2014 and 13 closed out, a net change of -5 holders.
  • The largest Sprott Physical Silver Trust buyer in Q1 2014 was Morgan Stanley, an estimated $5.73M added.
  • The largest Sprott Physical Silver Trust seller in Q1 2014 was Goldman Sachs, an estimated $6.41M sold.

Based on aggregated 13F filings for Q1 2014.