iShares Silver Trust
1,532 hedge funds and large institutions have $12.4B invested in iShares Silver Trust in 2025 Q4 according to their latest regulatory filings, with 426 funds opening new positions, 500 increasing their positions, 385 reducing their positions, and 80 closing their positions.
433% more first-time investments, than exits
New positions opened: 426 | Existing positions closed: 80
78% more capital invested
Capital invested by funds: $6.96B → $12.4B (+$5.41B)
74% more funds holding in top 10
Funds holding in top 10: 39 → 68 (+29)
30% more repeat investments, than reductions
Existing positions increased: 500 | Existing positions reduced: 385
26% more funds holding
Funds holding: 1,213 → 1,532 (+319)
2.19% more ownership
Funds ownership: 30.5% → 32.68% (+2.2%)
6% less call options, than puts
Call options by funds: $21.3B | Put options by funds: $22.7B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$1.03B |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$136M |
| 3 |
CTC (Chicago Trading Company)
Chicago,
Illinois
|
+$97.5M |
| 4 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$90.6M |
| 5 |
PEAK6
Chicago,
Illinois
|
+$67.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$189M |
| 2 |
MIH
Meitav Investment House
Bene-Beraq,
Israel
|
-$126M |
| 3 |
IMC Chicago
Chicago,
Illinois
|
-$63.8M |
| 4 |
BNP Paribas Financial Markets
Paris,
France
|
-$60.7M |
| 5 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$41.5M |
SLV Hedge Fund Activity: Q4 2025 in Review
1,532 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in iShares Silver Trust (SLV) for Q4 2025, worth a combined $12.4B — up 78% from $6.96B a quarter earlier.
Buyers outnumbered sellers: 426 funds opened new SLV positions and 80 closed out — a net gain of 346 holders — while 500 added to existing stakes and 385 trimmed.
The largest buyer was Jane Street, adding an estimated $1.03B. The largest seller was Morgan Stanley, cutting an estimated $189M.
- 1,532 institutional investors held iShares Silver Trust (SLV) as of Q4 2025, up from 1,213 in Q3 2025.
- Funds reported $12.4B of iShares Silver Trust stock for Q4 2025, up 78% quarter-over-quarter.
- 426 funds opened new iShares Silver Trust positions in Q4 2025 and 80 closed out, a net change of +346 holders.
- The largest iShares Silver Trust buyer in Q4 2025 was Jane Street, an estimated $1.03B added.
- The largest iShares Silver Trust seller in Q4 2025 was Morgan Stanley, an estimated $189M sold.
Based on aggregated 13F filings for Q4 2025.