Sprott Physical Platinum and Palladium Trust
SPPP
68 hedge funds and large institutions have $192M invested in Sprott Physical Platinum and Palladium Trust in 2025 Q4 according to their latest regulatory filings, with 20 funds opening new positions, 24 increasing their positions, 9 reducing their positions, and 8 closing their positions.
191% more capital invested
Capital invested by funds: $66.1M → $192M (+$126M)
167% more repeat investments, than reductions
Existing positions increased: 24 | Existing positions reduced: 9
150% more first-time investments, than exits
New positions opened: 20 | Existing positions closed: 8
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
19% more funds holding
Funds holding: 57 → 68 (+11)
11.43% more ownership
Funds ownership: 15.71% → 27.14% (+11%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IMC Chicago
Chicago,
Illinois
|
+$32.5M |
| 2 |
Jane Street
New York
|
+$22.9M |
| 3 |
Morgan Stanley
New York
|
+$7.8M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$4.58M |
| 5 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$2.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$733K |
| 2 |
PAG
Private Advisor Group
Morristown,
New Jersey
|
-$508K |
| 3 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
-$502K |
| 4 |
KAS
Kestra Advisory Services
Austin,
Texas
|
-$417K |
| 5 |
SAM
Synergy Asset Management
Vancouver,
Washington
|
-$386K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
76
JP Morgan Chase
New York
| – | -$122 | -9 | Closed |
|
SPPP Hedge Fund Activity: Q4 2025 in Review
68 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Platinum and Palladium Trust (SPPP) for Q4 2025, worth a combined $192M — up 191% from $66.1M a quarter earlier.
Buyers outnumbered sellers: 20 funds opened new SPPP positions and 8 closed out — a net gain of 12 holders — while 24 added to existing stakes and 9 trimmed.
The largest buyer was IMC Chicago, opening a new position worth an estimated $32.5M. The largest seller was UBS Group, cutting an estimated $733K.
- 68 institutional investors held Sprott Physical Platinum and Palladium Trust (SPPP) as of Q4 2025, up from 57 in Q3 2025.
- Funds reported $192M of Sprott Physical Platinum and Palladium Trust stock for Q4 2025, up 191% quarter-over-quarter.
- 20 funds opened new Sprott Physical Platinum and Palladium Trust positions in Q4 2025 and 8 closed out, a net change of +12 holders.
- The largest Sprott Physical Platinum and Palladium Trust buyer in Q4 2025 was IMC Chicago, an estimated $32.5M added.
- The largest Sprott Physical Platinum and Palladium Trust seller in Q4 2025 was UBS Group, an estimated $733K sold.
Based on aggregated 13F filings for Q4 2025.