Vault-13

ABRDN SILVER ETF TRUST SIVR

PHYSCL SILVR SHS · ETP · CUSIP 003264108

236 institutional holders +25 vs Q1 2025
16,312,16116.3m shares reported held*
$561.5mreported value*
38 new 82 added 52 reduced 16 sold out net bought ≈ $131.5m (+3.8m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $34.42. Options: 8 managers hold calls ($19.5m notional), 6 hold puts ($3.0m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 130Q4 22: 148Q1 23: 151Q2 23: 157Q3 23: 158Q4 23: 158Q1 24: 162Q2 24: 191Q3 24: 196Q4 24: 209Q1 25: 211Q2 25: 236236Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022130
Q4 2022148
Q1 2023151
Q2 2023157
Q3 2023158
Q4 2023158
Q1 2024162
Q2 2024191
Q3 2024196
Q4 2024209
Q1 2025211
Q2 2025236

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q3 23: 68 bought or addedQ3 23: 52 cut or sold outQ4 23: 49 bought or addedQ4 23: 68 cut or sold outQ4 23Q1 24: 68 bought or addedQ1 24: 61 cut or sold outQ2 24: 90 bought or addedQ2 24: 50 cut or sold outQ2 24Q3 24: 96 bought or addedQ3 24: 64 cut or sold outQ4 24: 97 bought or addedQ4 24: 62 cut or sold outQ4 24Q1 25: 85 bought or addedQ1 25: 74 cut or sold outQ2 25: 120 bought or addedQ2 25: 68 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20236852
Q4 20234968
Q1 20246861
Q2 20249050
Q3 20249664
Q4 20249762
Q1 20258574
Q2 202512068

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ3 24 calls: $5.0mQ3 24 puts: $1.5mQ3 24P/C 0.29Q4 24 calls: $7.2mQ4 24 puts: $765.9kQ4 24P/C 0.11Q1 25 calls: $9.9mQ1 25 puts: $2.2mQ1 25P/C 0.22Q2 25 calls: $19.5mQ2 25 puts: $3.0mQ2 25P/C 0.15
Numbers
QuarterCallsPutsP/C
Q3 2024$5.0m$1.5m0.29
Q4 2024$7.2m$765.9k0.11
Q1 2025$9.9m$2.2m0.22
Q2 2025$19.5m$3.0m0.15

Biggest buyers

JPMORGAN CHASE & CO Added +1,687,728+1.7m
Quadrature Capital Ltd Added +362,296+362.3k
McIlrath & Eck, LLC New +353,055+353.1k
UBS Group AG Added +297,713+297.7k
WELLS FARGO & COMPANY/MN Added +240,898+240.9k
GUARDIAN POINT CAPITAL, LP New +200,000+200.0k
ROYAL BANK OF CANADA Added +199,124+199.1k
LPL Financial LLC Added +122,778+122.8k
BANK OF AMERICA CORP /DE/ Added +119,628+119.6k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +110,561+110.6k

Biggest sellers

Tradewinds Capital Management, LLC Reduced -444,283-444.3k
RAYMOND JAMES FINANCIAL INC Reduced -127,533-127.5k
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Reduced -50,000-50.0k
Foundations Investment Advisors, LLC Reduced -38,546-38.5k
Sowell Financial Services LLC Reduced -38,444-38.4k
Advisory Services Network, LLC Sold out -30,728-30.7k
Castleview Partners, LLC Sold out -28,763-28.8k
AMERIPRISE FINANCIAL INC Reduced -24,601-24.6k
OSAIC HOLDINGS, INC. Reduced -23,286-23.3k
Bristlecone Advisors, LLC Sold out -16,088-16.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $13.0m376.5k shares
CITADEL ADVISORS LLC Added $3.6m105.5k shares
SIMPLEX TRADING, LLC Added $1.4m41.6k shares
GROUP ONE TRADING LLC Reduced $760.5k22.1k shares
IMC-Chicago, LLC Reduced $368.2k10.7k shares
JANE STREET GROUP, LLC Added $323.5k9.4k shares
Belvedere Trading LLC New $68.8k2.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

IMC-Chicago, LLC New $1.2m35.3k shares
CITADEL ADVISORS LLC Reduced $767.3k22.3k shares
SIMPLEX TRADING, LLC Added $536.0k15.6k shares
Belvedere Trading LLC New $344.1k10.0k shares
GROUP ONE TRADING LLC Added $120.4k3.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,739,0181.7m $59.8m $59.8m 0.00% Added +1.7m +1,687,728
2 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,048,8951.0m $36.1m $36.1m 0.00% Added +119.6k +119,628
3 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 973,453973.5k $33.5m $33.5m 0.01% Added +122.8k +122,778
4 UBS Group AG 0.01% of their portfolio ZURICH, V8 946,470946.5k $32.6m $32.6m 0.01% Added +297.7k +297,713
5 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 881,427881.4k $30.3m $30.3m 0.01% Added +240.9k +240,898
6 AMG National Trust Bank 0.53% of their portfolio GREENWOOD VILLAGE, CO 588,862588.9k $20.3m $20.3m 0.53% Added +17.7k +17,671
7 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 565,412565.4k $19.5m $19.5m 0.02% Added +39.2k +39,184
8 Quadrature Capital Ltd 0.30% of their portfolio LONDON, X0 506,714506.7k $17.4m $17.4m 0.30% Added +362.3k +362,296
9 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.14% of their portfolio Madrid, U3 450,000450.0k $15.4m $15.4m 0.14% Reduced -50.0k -50,000
10 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 426,396426.4k $14.7m $14.7m 0.00% Reduced -7.5k -7,504
11 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 379,268379.3k $13.1m $13.1m 0.00% Added +199.1k +199,124
12 McIlrath & Eck, LLC 1.39% of their portfolio ARLINGTON, WA 353,055353.1k $12.1m $12.1m 1.39% New
13 Capital Management Associates, Inc 3.78% of their portfolio MINNEAPOLIS, MN 347,063347.1k $11.9m $11.9m 3.78% Reduced -4.8k -4,832
14 Systelligence, LLC 1.81% of their portfolio BLOOMINGTON, MN 284,006284.0k $9.8m $9.8m 1.81% Reduced -750 -750
15 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 266,359266.4k $9.2m $9.2m 0.01% Added +31.9k +31,866
16 Gradient Investments LLC 0.16% of their portfolio ARDEN HILLS, MN 261,689261.7k $9.0m $9.0m 0.16% Added +18.0k +17,962
17 Mission Creek Capital Partners, Inc. 1.99% of their portfolio SAN FRANCISCO, CA 260,101260.1k $9.0m $9.0m 1.99% Added +36.1k +36,115
18 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 226,791226.8k $7.8m $7.8m 0.01% Added +34.9k +34,945
19 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 205,506205.5k $7.1m $7.1m 0.00% Added +51.9k +51,942
20 GUARDIAN POINT CAPITAL, LP 3.15% of their portfolio CHARLOTTESVILLE, VA 200,000200.0k $6.9m $6.9m 3.15% New
21 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 192,892192.9k $6.6m $6.6m 0.01% Reduced -23.3k -23,286
22 World Investment Advisors 0.13% of their portfolio LINCROFT, NJ 164,425164.4k $5.7m $5.7m 0.13% Reduced -4.7k -4,702
23 180 WEALTH ADVISORS, LLC 0.75% of their portfolio FEDERAL WAY, WA 155,650155.7k $5.4m $5.4m 0.75% Added +4.1k +4,087
24 Avior Wealth Management, LLC 0.16% of their portfolio OMAHA, NE 137,063137.1k $4.7m $4.7m 0.16% Reduced -587 -587
25 Merit Financial Group, LLC 0.05% of their portfolio ALPHARETTA, GA 137,023137.0k $4.7m $4.7m 0.05% Added +3.8k +3,836
26 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 124,311124.3k $4.3m $4.3m 0.02% Added +10.2k +10,228
27 Kiker Wealth Management, LLC 2.36% of their portfolio JASPER, GA 121,662121.7k $4.2m $4.2m 2.36% Added +106.1k +106,078
28 Pettinga Financial Advisors LLC 0.88% of their portfolio EVANSVILLE, IN 116,375116.4k $4.0m $4.0m 0.88% Reduced -9.8k -9,785
29 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 110,962111.0k $3.8m $3.8m 0.00% Added +56.3k +56,344
30 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 110,561110.6k $3.8m $3.8m 0.01% New
31 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 107,261107.3k $3.7m $3.7m 0.01% Added +3.1k +3,120
32 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 106,407106.4k $3.7m $3.7m 0.00% Reduced -127.5k -127,533
33 Fielder Capital Group LLC 0.97% of their portfolio NASHVILLE, TN 105,284105.3k $3.6m $3.6m 0.97% Reduced -11.5k -11,546
34 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 102,600102.6k $3.5m $3.5m 0.00% Added +25.4k +25,400
35 INTREPID FAMILY OFFICE LLC 3.72% of their portfolio SARASOTA, FL 100,000100.0k $3.4m $3.4m 3.72% Added +50.0k +50,000
36 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 94,54694.5k $3.3m $3.3m 0.00% Reduced -24.6k -24,601
37 Sowell Financial Services LLC 0.13% of their portfolio NORTH LITTLE ROCK, AR 91,19691.2k $3.1m $3.1m 0.13% Reduced -38.4k -38,444
38 Silver Coast Investments LLC 1.13% of their portfolio SAN DIEGO, X1 90,50890.5k $3.1m $3.1m 1.13% Reduced -6.3k -6,275
39 Copley Financial Group, Inc. 2.18% of their portfolio SAN DIEGO, CA 85,29785.3k $2.9m $2.9m 2.18% Reduced -874 -874
40 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 80,88480.9k $2.8m $2.8m 0.00% Reduced -187 -187
41 SMART Wealth LLC 0.85% of their portfolio Omaha, NE 78,56878.6k $2.7m $2.7m 0.85% Added +5.0k +4,979
42 Foundations Investment Advisors, LLC 0.04% of their portfolio PHOENIX, AZ 73,48573.5k $2.5m $2.5m 0.04% Reduced -38.5k -38,546
43 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 70,48870.5k $2.4m $2.4m 0.00% Reduced -1.3k -1,268
44 Apeiron RIA LLC 0.61% of their portfolio Dallas, TX 68,51568.5k $2.4m $2.4m 0.61% Added +2.2k +2,198
45 Journey Advisory Group, LLC 0.18% of their portfolio COVINGTON, KY 67,36967.4k $2.3m $2.3m 0.18% Reduced -1.1k -1,150
46 STABLEFORD CAPITAL II LLC 0.89% of their portfolio SCOTTSDALE, AZ 65,09665.1k $2.4m $2.4m 0.89% Reduced -990 -990
47 WT Wealth Management 0.66% of their portfolio SCOTTSDALE, AZ 64,59164.6k $2.2m $2.2m 0.66% Added +7.5k +7,538
48 MYECFO, LLC 1.06% of their portfolio La Jolla, CA 62,60262.6k $2.2m $2.2m 1.06% Added +1.4k +1,420
49 Richard C. Young & CO., LTD. 0.21% of their portfolio NEWPORT, RI 62,36662.4k $2.1m $2.1m 0.21% Reduced -1.9k -1,918
50 Marble Harbor Investment Counsel, LLC 0.23% of their portfolio BOSTON, MA 61,70061.7k $2.1m $2.1m 0.23% Unchanged
51 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 59,34159.3k $2.0m $2.0m 0.01% Added +24.4k +24,426
52 CWM, LLC 0.01% of their portfolio OMAHA, NE 59,00159.0k $2.0m $2.0m 0.01% Unchanged
53 PRINCIPAL SECURITIES, INC. 0.04% of their portfolio DES MOINES, IA 56,49056.5k $1.9m $1.9m 0.04% Added +32.3k +32,293
54 AVANTAX ADVISORY SERVICES, INC. 0.01% of their portfolio DALLAS, TX 54,85154.9k $1.9m $1.9m 0.01% Added +16.2k +16,249
55 IMC-Chicago, LLC 0.04% of their portfolio CHICAGO, IL 49,53149.5k $1.7m $1.7m 0.04% New
56 FLP Wealth Management, LLC 4.69% of their portfolio BENTONVILLE, AR 48,54748.5k $1.7m $1.7m 4.69% Unchanged
57 FOREFRONT WEALTH MANAGEMENT INC. 1.31% of their portfolio MALVERN, PA 47,40147.4k $1.6m $1.6m 1.31% New
58 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 45,90045.9k $1.6m $1.6m 0.00% Added +7.3k +7,311
59 Robinson Value Management, Ltd. 0.98% of their portfolio SAN ANTONIO, TX 45,51845.5k $1.6m $1.6m 0.98% Added +250 +250
60 Proficio Capital Partners LLC 0.10% of their portfolio NEWTON, MA 44,42044.4k $1.5m $1.5m 0.10% New
61 Blue Capital, Inc. 1.04% of their portfolio OMAHA, NE 42,82142.8k $1.5m $1.5m 1.04% First filing
62 Inspire Advisors, LLC 0.14% of their portfolio Meridian, ID 40,17840.2k $1.4m $1.4m 0.14% Reduced -94 -94
63 Encompass More Asset Management 0.30% of their portfolio Danville, CA 37,17737.2k $1.3m $1.3m 0.30% New
64 SPROTT INC. 0.06% of their portfolio TORONTO, A6 36,79236.8k $1.3m $1.3m 0.06% Added +22.0k +22,029
65 Alpine Bank Wealth Management 0.18% of their portfolio GRAND JUNCTION, CO 34,00034.0k $1.2m $1.2m 0.18% Unchanged
66 Leo Wealth, LLC 0.09% of their portfolio HURST, TX 33,41333.4k $1.1m $1.1m 0.09% Reduced -87 -87
67 IFG Advisory, LLC 0.06% of their portfolio ATLANTA, GA 33,13933.1k $1.1m $1.1m 0.06% Added +1.9k +1,932
68 Mariner, LLC 0.00% of their portfolio Overland Park, KS 30,82930.8k $1.1m $1.1m 0.00% Added +19.1k +19,077
69 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 30,31830.3k $1.0m $1.0m 0.00% Added +660 +660
70 Simplicity Wealth,LLC 0.04% of their portfolio SUMMIT, NJ 30,30430.3k $1.0m $1.0m 0.04% New
71 Legacy Wealth Asset Management, LLC 0.26% of their portfolio WOODBURY, MN 29,98030.0k $1.0m $1.0m 0.26% Added +1.9k +1,862
72 OneDigital Investment Advisors LLC 0.01% of their portfolio OVERLAND PARK, KS 29,88729.9k $1.0m $1.0m 0.01% Reduced -249 -249
73 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 28,49828.5k $980.6k $980.6k 0.00% New
74 Acorn Wealth Advisors, LLC 0.36% of their portfolio Grand Blanc, MI 28,39728.4k $977.1k $977.1k 0.36% Reduced -805 -805
75 Global Wealth Management, LLC 0.56% of their portfolio KINGSTON, NJ 27,90327.9k $1.0m $1.0m 0.56% Added +862 +862
76 Transamerica Financial Advisors, LLC 0.09% of their portfolio CEDAR RAPIDS, IA 27,05227.1k $930.9k $930.9k 0.09% Added +3.9k +3,913
77 SEEDS INVESTOR LLC 0.22% of their portfolio NEW YORK, NY 26,79726.8k $922.1k $922.1k 0.22% Added +7.3k +7,341
78 NewEdge Wealth, LLC 0.02% of their portfolio STAMFORD, CT 26,50026.5k $966.2k $966.2k 0.02% Unchanged
79 Clearstead Advisors, LLC 0.01% of their portfolio CLEVELAND, OH 26,28826.3k $904.6k $904.6k 0.01% Added +7.9k +7,887
80 HARBOUR INVESTMENT MANAGEMENT LLC 0.39% of their portfolio EDMONDS, WA 26,00026.0k $894.7k $894.7k 0.39% Unchanged
81 SYNOVUS FINANCIAL CORP 0.01% of their portfolio Columbus, GA 23,74223.7k $817.0k $817.0k 0.01% Unchanged
82 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 23,50223.5k $808.7k $808.7k 0.02% Reduced -176 -176
83 Paul R. Ried Financial Group, LLC 0.48% of their portfolio BELLEVUE, WA 22,83322.8k $785.7k $785.7k 0.48% Reduced -8.1k -8,073
84 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 22,60022.6k $777.7k $777.7k 0.00% Unchanged
85 Summit Trail Advisors, LLC 0.01% of their portfolio NEW YORK, NY 22,18322.2k $763.3k $763.3k 0.01% New
86 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 22,01522.0k $757.5k $757.5k 0.00% Added +2.6k +2,573
87 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 22,01122.0k $757.4k $757.4k 0.00% Added +414 +414
88 Belvedere Trading LLC 0.06% of their portfolio CHICAGO, IL 21,57221.6k $742.3k $742.3k 0.06% New
89 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 20,85020.9k $717.4k $717.4k 0.00% Reduced -1.0k -1,000
90 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 19,85519.9k $683.2k $683.2k 0.00% Added +1.5k +1,462
91 Tactive Advisors, LLC 0.21% of their portfolio Jacksonville, FL 19,31219.3k $664.5k $664.5k 0.21% First filing
92 Concurrent Investment Advisors, LLC 0.01% of their portfolio Tampa, FL 19,24119.2k $662.1k $662.1k 0.01% Reduced -335 -335
93 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 18,66818.7k $642.4k $642.4k 0.01% Reduced -3.9k -3,898
94 OXFORD FINANCIAL GROUP, LTD. LLC 0.04% of their portfolio INDIANAPOLIS, IN 18,50018.5k $636.6k $636.6k 0.04% Unchanged
95 Comprehensive Money Management Services LLC 0.48% of their portfolio CORAL GABLES, FL 18,34418.3k $631.2k $631.2k 0.48% Reduced -462 -462
96 DENVER WEALTH MANAGEMENT, INC. 0.26% of their portfolio DENVER, CO 18,02118.0k $620.1k $620.1k 0.26% Reduced -294 -294
97 TCFG WEALTH MANAGEMENT, LLC 0.28% of their portfolio LAGUNA NIGUEL, CA 17,94417.9k $617.5k $617.5k 0.28% Added +100 +100
98 Columbus Macro, LLC 0.08% of their portfolio NEW CASTLE, PA 17,90017.9k $615.9k $615.9k 0.08% Unchanged
99 WCG Wealth Advisors LLC 0.04% of their portfolio LAS VEGAS, NV 17,83617.8k $613.7k $613.7k 0.04% Added +1.7k +1,730
100 Mutual Advisors, LLC 0.02% of their portfolio OMAHA, NE 17,51417.5k $636.8k $636.8k 0.02% Unchanged