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Sprott Physical Silver Trust
PSLV

385 hedge funds and large institutions have $1.52B invested in Sprott Physical Silver Trust in 2025 Q1 according to their latest regulatory filings, with 42 funds opening new positions, 129 increasing their positions, 80 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

83% more first-time investments, than exits

New positions opened: 42 | Existing positions closed: 23

63% more funds holding in top 10

Funds holding in top 10: 8 → 13 (+5)

61% more repeat investments, than reductions

Existing positions increased: 129 | Existing positions reduced: 80

11% more capital invested

Capital invested by funds: $1.36B → $1.52B (+$154M)

3% more funds holding

Funds holding: 372 → 385 (+13)

0.63% more ownership

Funds ownership: 24.5% → 25.13% (+0.63%)

Holders
385
Holders Change
+13
Holders Change %
+3.49%
% of All Funds
5.16%
Holding in Top 10
13
Holding in Top 10 Change
+5
Holding in Top 10 Change %
+62.5%
% of All Funds
0.17%
New
42
Increased
129
Reduced
80
Closed
23
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
JAM
Jupiter Asset Management
United Kingdom
+$15.2M
2
BlackRock
BlackRock
New York
+$11.1M
3
GWM
Geneos Wealth Management
Colorado
+$10.9M
4
EPIM
Equinox Partners Investment Management
Connecticut
+$10.1M
5
AA
ALPS Advisors
Colorado
+$8.25M

Top Sellers

Rank Fund Capital Flow
1
PAMP
Polar Asset Management Partners
Ontario, Canada
-$27.1M
2
Jane Street
Jane Street
New York
-$21.4M
3
IMC Chicago
IMC Chicago
Illinois
-$16.2M
4
FTUS
Flow Traders U.S.
New York
-$9.72M
5
LAII
LM Asset (IM) Inc
British Columbia, Canada
-$4.54M
Name Holding Trade Value Shares
Change 		Change in
Stake
JWCA
126
J.W. Cole Advisors
Florida
$1.31M +$621K +57,551 +104%
SWM
127
SeaCrest Wealth Management
New York
$1.27M +$1.35K +125 +0.1%
BCA
128
Bay Colony Advisors
Massachusetts
$1.25M +$1.16M +107,743 New
SMC
129
Smith, Moore & Co
Missouri
$1.23M +$4.63K +429 +0.4%
NSG
130
Nalls Sherbakoff Group
Tennessee
$1.21M +$1.12M +104,081 New
First Manhattan
131
First Manhattan
New York
$1.19M – – –
Susquehanna International Group
132
Susquehanna International Group
Pennsylvania
$1.16M -$4.4M -407,764 -80%
SPC
133
Sigma Planning Corp
Michigan
$1.16M -$7.99K -740 -0.7%
BCM
134
Barometer Capital Management
Ontario, Canada
$1.16M -$793K -73,400 -42%
AL
135
Arnhold LLC
New York
$1.15M – – –
TC
136
TownSquare Capital
Utah
$1.14M +$523K +48,477 +97%
Cerity Partners
137
Cerity Partners
New York
$1.13M -$432 -40 -0%
SA
138
Sicart Associates
New York
$1.13M – – –
AWM
139
Apollon Wealth Management
South Carolina
$1.11M +$98.8K +9,147 +11%
WA
140
Waverly Advisors
Alabama
$1.11M – – –
BGC
141
Beutel, Goodman & Co
Ontario, Canada
$1.08M +$999K +92,500 New
PI
142
PFG Investments
New York
$1.04M +$212K +19,670 +28%
Nomura Holdings
143
Nomura Holdings
Japan
$1.04M -$1.93M -178,700 -67%
SA
144
Sanctuary Advisors
Indiana
$1.03M +$123K +11,400 +15%
BFA
145
Beaumont Financial Advisors
Massachusetts
$1.03M +$128K +11,887 +15%
SDWIA
146
Schwarz Dygos Wheeler Investment Advisors
Minnesota
$1.02M – – –
CWS
147
Cypress Wealth Services
California
$994K +$125K +11,570 +16%
FAIM
148
Financial Advocates Investment Management
Washington
$989K +$16K +1,485 +2%
MAA
149
Mraz Amerine & Associates
California
$981K – – –
CAM
150
Cobblestone Asset Management
Virginia
$980K -$1.89K -175 -0.2%
4 5
6
7 8

PSLV Hedge Fund Activity: Q1 2025 in Review

385 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Silver Trust (PSLV) for Q1 2025, worth a combined $1.52B — up 11% from $1.36B a quarter earlier.

Buyers outnumbered sellers: 42 funds opened new PSLV positions and 23 closed out — a net gain of 19 holders — while 129 added to existing stakes and 80 trimmed.

The largest buyer was Jupiter Asset Management, adding an estimated $15.2M. The largest seller was Polar Asset Management Partners, cutting an estimated $27.1M.

  • 385 institutional investors held Sprott Physical Silver Trust (PSLV) as of Q1 2025, up from 372 in Q4 2024.
  • Funds reported $1.52B of Sprott Physical Silver Trust stock for Q1 2025, up 11% quarter-over-quarter.
  • 42 funds opened new Sprott Physical Silver Trust positions in Q1 2025 and 23 closed out, a net change of +19 holders.
  • The largest Sprott Physical Silver Trust buyer in Q1 2025 was Jupiter Asset Management, an estimated $15.2M added.
  • The largest Sprott Physical Silver Trust seller in Q1 2025 was Polar Asset Management Partners, an estimated $27.1M sold.

Based on aggregated 13F filings for Q1 2025.