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iShares Silver Trust
SLV

1,009 hedge funds and large institutions have $5.21B invested in iShares Silver Trust in 2025 Q1 according to their latest regulatory filings, with 168 funds opening new positions, 337 increasing their positions, 237 reducing their positions, and 75 closing their positions.

New
Increased
Maintained
Reduced
Closed

124% more first-time investments, than exits

New positions opened: 168 | Existing positions closed: 75

82% more funds holding in top 10

Funds holding in top 10: 17 → 31 (+14)

56% more call options, than puts

Call options by funds: $8.14B | Put options by funds: $5.23B

42% more repeat investments, than reductions

Existing positions increased: 337 | Existing positions reduced: 237

8% more funds holding

Funds holding: 935 → 1,009 (+74)

2.94% more ownership

Funds ownership: 31.19% → 34.13% (+2.9%)

4% more capital invested

Capital invested by funds: $5B → $5.21B (+$210M)

Holders
1,009
Holders Change
+74
Holders Change %
+7.91%
% of All Funds
13.53%
Holding in Top 10
31
Holding in Top 10 Change
+14
Holding in Top 10 Change %
+82.35%
% of All Funds
0.42%
New
168
Increased
337
Reduced
237
Closed
75
Calls
$8.14B
Puts
$5.23B
Net Calls
+$2.91B
Net Calls Change
+$114M

Top Buyers

Rank Fund Capital Flow
1
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$131M
2
Jane Street
Jane Street
New York
+$119M
3
IMC Chicago
IMC Chicago
Illinois
+$64.5M
4
Ameriprise
Ameriprise
Minnesota
+$42.4M
5
UBS Group
UBS Group
Switzerland
+$39M

Top Sellers

Rank Fund Capital Flow
1
CTC (Chicago Trading Company)
CTC (Chicago Trading Company)
Illinois
-$155M
2
Morgan Stanley
Morgan Stanley
New York
-$117M
3
Millennium Management
Millennium Management
New York
-$90.9M
4
National Bank of Canada
National Bank of Canada
Quebec, Canada
-$51.2M
5
Bank of Nova Scotia
Bank of Nova Scotia
Ontario, Canada
-$28.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
LOAMU
1026
Lombard Odier Asset Management (USA)
New York
– -$1.33M -50,568 Closed
APCM
1027
Alaska Permanent Capital Management
Alaska
– -$1.16M -44,000 Closed
TC
1028
Torno Capital
Massachusetts
– -$790K -30,000 Closed
GS
1029
GWN Securities
Florida
– -$800K -28,676 Closed
TAA
1030
TB Alternative Assets
Cayman Islands
– -$693K -26,323 Closed
BEI
1031
Benjamin Edwards Inc
Missouri
– -$685K -26,026 Closed
FFO
1032
Fiduciary Family Office
Florida
– -$626K -23,762 Closed
GC
1033
Giverny Capital
Quebec, Canada
– -$606K -23,000 Closed
HP
1034
Haven Private
Florida
– -$594K -22,567 Closed
BAM
1035
Bayshore Asset Management
Florida
– -$494K -18,777 Closed
ECM
1036
Eisler Capital Management
United Kingdom
– -$504K -17,333 Closed
HT
1037
HAP Trading
New York
– -$380K -13,091 Closed
CFGS
1038
Concourse Financial Group Securities
Alabama
– -$366K -13,038 Closed
SI
1039
SCP Investment
California
– -$337K -12,800 Closed
Amundi
1040
Amundi
France
– -$329K -12,000 Closed
CBA
1041
Coastal Bridge Advisors
Connecticut
– -$310K -11,791 Closed
AT
1042
American Trust
Kentucky
– -$298K -11,300 Closed
Franklin Resources
1043
Franklin Resources
California
– -$288K -10,940 Closed
PFG
1044
Prosperity Financial Group
California
– -$263K -9,972 Closed
ZIM
1045
Zacks Investment Management
Illinois
– -$262K -9,969 Closed
WAM
1046
Worth Asset Management
Texas
– -$258K -9,780 Closed
PFGIA
1047
Patriot Financial Group Insurance Agency
Massachusetts
– -$256K -9,710 Closed
BAG
1048
Bridgewealth Advisory Group
California
– -$272K -9,222 Closed
MMA
1049
Mizuho Markets Americas
New York
– -$237K -9,006 Closed
MCM
1050
Morton Capital Management
California
– -$235K -8,944 Closed
40 41
42
43 44

SLV Hedge Fund Activity: Q1 2025 in Review

1,009 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in iShares Silver Trust (SLV) for Q1 2025, worth a combined $5.21B — up 4.2% from $5B a quarter earlier.

Buyers outnumbered sellers: 168 funds opened new SLV positions and 75 closed out — a net gain of 93 holders — while 337 added to existing stakes and 237 trimmed.

The largest buyer was BNP Paribas Financial Markets, adding an estimated $131M. The largest seller was CTC (Chicago Trading Company), exiting entirely with an estimated $155M sold.

  • 1,009 institutional investors held iShares Silver Trust (SLV) as of Q1 2025, up from 935 in Q4 2024.
  • Funds reported $5.21B of iShares Silver Trust stock for Q1 2025, up 4.2% quarter-over-quarter.
  • 168 funds opened new iShares Silver Trust positions in Q1 2025 and 75 closed out, a net change of +93 holders.
  • The largest iShares Silver Trust buyer in Q1 2025 was BNP Paribas Financial Markets, an estimated $131M added.
  • The largest iShares Silver Trust seller in Q1 2025 was CTC (Chicago Trading Company), an estimated $155M sold.

Based on aggregated 13F filings for Q1 2025.