Sprott Physical Platinum and Palladium Trust
SPPP
58 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.
69% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 13
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
2.19% less ownership
Funds ownership: 24.41% → 22.22% (-2.2%)
13% less funds holding
Funds holding: 67 → 58 (-9)
18% less capital inflows, than outflows
Capital inflows: $21.3M | Capital outflows: $26M
53% less first-time investments, than exits
New positions opened: 8 | Existing positions closed: 17
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$5.58M |
| 2 |
Raymond James Financial
St Petersburg,
Florida
|
+$4.47M |
| 3 |
Morgan Stanley
New York
|
+$2.76M |
| 4 |
Pictet Asset Management
Carouge,
Switzerland
|
+$1.2M |
| 5 |
NC
Nokomis Capital
Dallas,
Texas
|
+$1.19M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pale Fire Capital SE
Prague,
Czech Republic
|
-$13.8M |
| 2 |
Jane Street
New York
|
-$5.69M |
| 3 |
Financial Enhancement Group
Anderson,
Indiana
|
-$1.66M |
| 4 |
Wolverine Asset Management
Chicago,
Illinois
|
-$882K |
| 5 |
IMC Chicago
Chicago,
Illinois
|
-$801K |
SPPP Hedge Fund Activity: Q3 2025 in Review
58 of the 7,653 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.
- 58 institutional investors held Sprott Physical Platinum and Palladium Trust (SPPP) as of Q3 2025, down from 67 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.