Sprott Physical Silver Trust
PSLV
482 hedge funds and large institutions have $3.4B invested in Sprott Physical Silver Trust in 2025 Q4 according to their latest regulatory filings, with 99 funds opening new positions, 145 increasing their positions, 136 reducing their positions, and 30 closing their positions.
230% more first-time investments, than exits
New positions opened: 99 | Existing positions closed: 30
130% more call options, than puts
Call options by funds: $4.17M | Put options by funds: $1.82M
92% more funds holding in top 10
Funds holding in top 10: 12 → 23 (+11)
54% more capital invested
Capital invested by funds: $2.21B → $3.4B (+$1.19B)
15% more funds holding
Funds holding: 420 → 482 (+62)
7% more repeat investments, than reductions
Existing positions increased: 145 | Existing positions reduced: 136
0.89% less ownership
Funds ownership: 24.89% → 24% (-0.89%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AA
ALPS Advisors
Denver,
Colorado
|
+$42.8M |
| 2 |
FDCDDQ
Federation des caisses Desjardins du Quebec
Levis,
Quebec, Canada
|
+$12.5M |
| 3 |
SC
Scotia Capital
Toronto,
Ontario, Canada
|
+$9.25M |
| 4 |
LPL Financial
San Diego,
California
|
+$9.24M |
| 5 |
KAS
Kestra Advisory Services
Austin,
Texas
|
+$9.05M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
-$79.2M |
| 2 |
3AM
3EDGE Asset Management
Naples,
Florida
|
-$34.4M |
| 3 |
Jane Street
New York
|
-$24M |
| 4 |
EPIM
Equinox Partners Investment Management
Stamford,
Connecticut
|
-$10.3M |
| 5 |
JAM
Jupiter Asset Management
London,
United Kingdom
|
-$7.75M |
PSLV Hedge Fund Activity: Q4 2025 in Review
482 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Silver Trust (PSLV) for Q4 2025, worth a combined $3.4B — up 54% from $2.21B a quarter earlier.
Buyers outnumbered sellers: 99 funds opened new PSLV positions and 30 closed out — a net gain of 69 holders — while 145 added to existing stakes and 136 trimmed.
The largest buyer was ALPS Advisors, adding an estimated $42.8M. The largest seller was BlackRock, cutting an estimated $79.2M.
- 482 institutional investors held Sprott Physical Silver Trust (PSLV) as of Q4 2025, up from 420 in Q3 2025.
- Funds reported $3.4B of Sprott Physical Silver Trust stock for Q4 2025, up 54% quarter-over-quarter.
- 99 funds opened new Sprott Physical Silver Trust positions in Q4 2025 and 30 closed out, a net change of +69 holders.
- The largest Sprott Physical Silver Trust buyer in Q4 2025 was ALPS Advisors, an estimated $42.8M added.
- The largest Sprott Physical Silver Trust seller in Q4 2025 was BlackRock, an estimated $79.2M sold.
Based on aggregated 13F filings for Q4 2025.