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SPPP

Sprott Physical Platinum and Palladium Trust
SPPP

57 hedge funds and large institutions have $66.1M invested in Sprott Physical Platinum and Palladium Trust in 2025 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 22 increasing their positions, 13 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

69% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 13

5% more capital invested

Capital invested by funds: $63.1M → $66.1M (+$3.02M)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

8.69% less ownership

Funds ownership: 24.4% → 15.71% (-8.7%)

14% less funds holding

Funds holding: 66 → 57 (-9)

53% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 17

Holders
57
Holders Change
-9
Holders Change %
-13.64%
% of All Funds
0.75%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
8
Increased
22
Reduced
13
Closed
17
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$5.58M
2
Raymond James Financial
Raymond James Financial
Florida
+$4.47M
3
Morgan Stanley
Morgan Stanley
New York
+$2.76M
4
Pictet Asset Management
Pictet Asset Management
Switzerland
+$1.2M
5
NC
Nokomis Capital
Texas
+$1.19M

Top Sellers

Rank Fund Capital Flow
1
PFCS
Pale Fire Capital SE
Czech Republic
-$13.8M
2
Jane Street
Jane Street
New York
-$5.69M
3
FEG
Financial Enhancement Group
Indiana
-$1.66M
4
WAM
Wolverine Asset Management
Illinois
-$882K
5
IMC Chicago
IMC Chicago
Illinois
-$801K
Name Holding Trade Value Shares
Change 		Change in
Stake
TAM
26
Tocqueville Asset Management
New York
$312K – – –
FDCDDQ
27
Federation des caisses Desjardins du Quebec
Quebec, Canada
$299K -$95K -7,689 -26%
Cambridge Investment Research Advisors
28
Cambridge Investment Research Advisors
Iowa
$288K +$90.5K +7,330 +53%
Citadel Advisors
29
Citadel Advisors
Florida
$280K +$255K +20,632 New
PFA
30
Pettinga Financial Advisors
Indiana
$266K +$22.8K +1,850 +10%
MFA
31
Morling Financial Advisors
California
$258K +$235K +19,000 New
TSS
32
Two Sigma Securities
New York
$215K -$3.24K -262 -2%
AAS
33
Ameritas Advisory Services
Nebraska
$214K -$10.4K -846 -5%
Commonwealth Equity Services
34
Commonwealth Equity Services
Massachusetts
$200K -$20K -1,620 -10%
WAP
35
Wealthcare Advisory Partners
Pennsylvania
$193K +$27.1K +2,197 +18%
Wealth Enhancement Advisory Services
36
Wealth Enhancement Advisory Services
Minnesota
$147K +$129K +10,431 New
XT
37
XTX Topco
Cayman Islands
$145K +$132K +10,683 New
MSG
38
Main Street Group
Virginia
$110K – – –
ICM
39
Islay Capital Management
Texas
$67.9K – – –
HCM
40
Hollencrest Capital Management
California
$42.8K – – –
IA
41
IFP Advisors
Florida
$40.7K – – –
ASN
42
Advisory Services Network
Georgia
$38K +$34.6K +2,800 New
NA
43
NewEdge Advisors
Louisiana
$33.2K -$12.9K -1,048 -30%
UIC
44
Uniplan Investment Counsel
Wisconsin
$29.5K +$15.2K +1,232 +131%
AA
45
Ancora Advisors
Ohio
$27.2K – – –
HWA
46
HHM Wealth Advisors
Tennessee
$23.1K – – –
CT
47
Caldwell Trust
Florida
$22.3K – – –
Bank of America
48
Bank of America
North Carolina
$17K -$9.88K -800 -39%
TWC
49
TD Waterhouse Canada
Ontario, Canada
$14.6K -$1.88K -152 -12%
TLCM
50
Twin Lakes Capital Management
California
$13.6K – – –
1
2
3

SPPP Hedge Fund Activity: Q3 2025 in Review

57 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Platinum and Palladium Trust (SPPP) for Q3 2025, worth a combined $66.1M — up 4.8% from $63.1M a quarter earlier.

Sellers outnumbered buyers: 17 funds closed out of SPPP and 8 opened new positions — a net loss of 9 holders — while 13 trimmed existing stakes and 22 added.

The largest buyer was Royal Bank of Canada, adding an estimated $5.58M. The largest seller was Pale Fire Capital SE, exiting entirely with an estimated $13.8M sold.

  • 57 institutional investors held Sprott Physical Platinum and Palladium Trust (SPPP) as of Q3 2025, down from 66 in Q2 2025.
  • Funds reported $66.1M of Sprott Physical Platinum and Palladium Trust stock for Q3 2025, up 4.8% quarter-over-quarter.
  • 8 funds opened new Sprott Physical Platinum and Palladium Trust positions in Q3 2025 and 17 closed out, a net change of -9 holders.
  • The largest Sprott Physical Platinum and Palladium Trust buyer in Q3 2025 was Royal Bank of Canada, an estimated $5.58M added.
  • The largest Sprott Physical Platinum and Palladium Trust seller in Q3 2025 was Pale Fire Capital SE, an estimated $13.8M sold.

Based on aggregated 13F filings for Q3 2025.