Vault-13

ABRDN SILVER ETF TRUST SIVR

PHYSCL SILVR SHS · ETP · CUSIP 003264108

391 institutional holders +24 vs Q4 2025
17,226,37117.2m shares reported held*
$1.2bnreported value*
71 new 110 added 146 reduced 47 sold out net sold ≈ $609.3m (-8.5m 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 ($14.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $71.54. Options: 9 managers hold calls ($139.0m notional), 9 hold puts ($92.7m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 130Q4 22: 148Q1 23: 151Q2 23: 157Q3 23: 158Q4 23: 158Q1 24: 162Q2 24: 191Q3 24: 196Q4 24: 209Q1 25: 211Q2 25: 236Q3 25: 277Q4 25: 367Q1 26: 391391Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025277
Q4 2025367
Q1 2026391

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 24: 90 bought or addedQ2 24: 50 cut or sold outQ3 24: 96 bought or addedQ3 24: 64 cut or sold outQ3 24Q4 24: 97 bought or addedQ4 24: 62 cut or sold outQ1 25: 85 bought or addedQ1 25: 74 cut or sold outQ1 25Q2 25: 120 bought or addedQ2 25: 68 cut or sold outQ3 25: 151 bought or addedQ3 25: 74 cut or sold outQ3 25Q4 25: 202 bought or addedQ4 25: 115 cut or sold outQ1 26: 181 bought or addedQ1 26: 193 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20249050
Q3 20249664
Q4 20249762
Q1 20258574
Q2 202512068
Q3 202515174
Q4 2025202115
Q1 2026181193

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ2 25 calls: $19.5mQ2 25 puts: $3.0mQ2 25P/C 0.15Q3 25 calls: $15.5mQ3 25 puts: $4.0mQ3 25P/C 0.26Q4 25 calls: $56.7mQ4 25 puts: $66.5mQ4 25P/C 1.17Q1 26 calls: $139.0mQ1 26 puts: $92.7mQ1 26P/C 0.67
Numbers
QuarterCallsPutsP/C
Q2 2025$19.5m$3.0m0.15
Q3 2025$15.5m$4.0m0.26
Q4 2025$56.7m$66.5m1.17
Q1 2026$139.0m$92.7m0.67

Biggest buyers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +319,037+319.0k
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Added +261,413+261.4k
Kiker Wealth Management, LLC Added +139,701+139.7k
Golden State Wealth Management, LLC Added +119,897+119.9k
LaSalle St. Investment Advisors, LLC New +115,844+115.8k
BYRNE FINANCIAL FREEDOM, LLC New +72,184+72.2k
Virtu Financial LLC New +55,211+55.2k
STIFEL FINANCIAL CORP Added +55,089+55.1k
Jump Financial, LLC New +45,211+45.2k
Waverly Advisors, LLC New +41,790+41.8k

Biggest sellers

JPMORGAN CHASE & CO Reduced -2,935,266-2.9m
JANE STREET GROUP, LLC Reduced -2,453,044-2.5m
BANK OF AMERICA CORP /DE/ Reduced -534,914-534.9k
GUARDIAN POINT CAPITAL, LP Sold out -475,000-475.0k
Gradient Investments LLC Sold out -462,030-462.0k
Southeast Asset Advisors, LLC Sold out -442,290-442.3k
Advocacy Wealth Management, LLC Sold out -242,213-242.2k
HighTower Advisors, LLC Reduced -225,593-225.6k
AMG National Trust Bank Reduced -224,749-224.7k
Tradewinds Capital Management, LLC Reduced -192,323-192.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $42.2m589.8k shares
CITADEL ADVISORS LLC Added $34.0m475.1k shares
JANE STREET GROUP, LLC Added $16.8m234.9k shares
GROUP ONE TRADING LLC Added $14.5m202.1k shares
IMC-Chicago, LLC Added $14.4m200.8k shares
Kurv Investment Management LLC New $8.4m5.0k shares
Belvedere Trading LLC Added $4.7m66.1k shares
SIMPLEX TRADING, LLC Reduced $3.5m49.0k shares
Tidal Investments LLC New $393.9k5.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $24.1m336.0k shares
GROUP ONE TRADING LLC Added $15.7m219.7k shares
CITADEL ADVISORS LLC Added $15.5m217.1k shares
JANE STREET GROUP, LLC Added $13.2m184.9k shares
IMC-Chicago, LLC Added $8.2m114.4k shares
Kurv Investment Management LLC New $5.9m2.9k shares
SIMPLEX TRADING, LLC Added $5.3m74.1k shares
Belvedere Trading LLC Unchanged $2.5m34.4k shares
NewEdge Wealth, LLC Unchanged $2.3m32.2k 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 Q1 2026

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 Q1 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.65% of their portfolio Madrid, U3 1,321,4751.3m $92.3m $92.3m 0.65% Added +261.4k +261,413
2 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,246,7651.2m $89.3m $89.3m 0.02% Added +37.3k +37,270
3 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,227,5391.2m $87.9m $87.9m 0.01% Reduced -534.9k -534,914
4 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 978,377978.4k $70.1m $70.1m 0.01% Added +24.4k +24,410
5 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.09% of their portfolio BALA CYNWYD, PA 940,682940.7k $67.4m $67.4m 0.09% Added +319.0k +319,037
6 UBS Group AG 0.01% of their portfolio ZURICH, V8 668,452668.5k $47.9m $47.9m 0.01% Reduced -69.7k -69,658
7 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 518,100518.1k $37.1m $37.1m 0.00% Reduced -18.5k -18,524
8 Tradewinds Capital Management, LLC 7.17% of their portfolio BELLINGHAM, WA 503,923503.9k $36.1m $36.1m 7.17% Reduced -192.3k -192,323
9 AMG National Trust Bank 0.60% of their portfolio GREENWOOD VILLAGE, CO 388,864388.9k $27.8m $27.8m 0.60% Reduced -224.7k -224,749
10 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 326,591326.6k $23.4m $23.4m 0.02% Reduced -56.3k -56,345
11 Capital Management Associates, Inc 4.42% of their portfolio MINNEAPOLIS, MN 273,022273.0k $19.6m $19.6m 4.42% Reduced -32.7k -32,675
12 Mission Creek Capital Partners, Inc. 3.64% of their portfolio SAN FRANCISCO, CA 254,683254.7k $18.2m $18.2m 3.64% Reduced -49.7k -49,733
13 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 252,039252.0k $18.0m $18.0m 0.00% Reduced -15.3k -15,302
14 McIlrath & Eck, LLC 1.25% of their portfolio ARLINGTON, WA 235,777235.8k $16.9m $16.9m 1.25% Reduced -6.4k -6,393
15 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 224,712224.7k $16.1m $16.1m 0.02% Reduced -26.5k -26,517
16 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 222,930222.9k $16.0m $16.0m 0.02% Reduced -2.5m -2,453,044
17 Vestmark Advisory Solutions, Inc. 0.16% of their portfolio Wakefield, MA 203,224203.2k $14.6m $14.6m 0.16% Added +1.1k +1,105
18 ELEVATION POINT WEALTH PARTNERS, LLC 0.34% of their portfolio DENVER, CO 197,836197.8k $14.2m $14.2m 0.34% Reduced -4.5k -4,499
19 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 197,687197.7k $14.2m $14.2m 0.00% Reduced -118.2k -118,158
20 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 192,659192.7k $13.8m $13.8m 0.01% Reduced -225.6k -225,593
21 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 188,523188.5k $13.5m $13.5m 0.00% Reduced -24.7k -24,736
22 NewEdge Advisors, LLC 0.04% of their portfolio NEW ORLEANS, LA 161,133161.1k $11.5m $11.5m 0.04% Added +10.8k +10,845
23 World Investment Advisors 0.18% of their portfolio LINCROFT, NJ 157,802157.8k $11.3m $11.3m 0.18% Reduced -4.3k -4,317
24 180 WEALTH ADVISORS, LLC 1.27% of their portfolio FEDERAL WAY, WA 156,093156.1k $11.2m $11.2m 1.27% Reduced -8.7k -8,719
25 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 143,487143.5k $10.3m $10.3m 0.03% Added +1.5k +1,484
26 Merit Financial Group, LLC 0.08% of their portfolio ALPHARETTA, GA 143,348143.3k $10.3m $10.3m 0.08% Reduced -6.1k -6,105
27 Kiker Wealth Management, LLC 4.89% of their portfolio JASPER, GA 142,935142.9k $10.2m $10.2m 4.89% Added +139.7k +139,701
28 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 129,971130.0k $9.3m $9.3m 0.00% Reduced -34.9k -34,861
29 Golden State Wealth Management, LLC 0.95% of their portfolio SANTA ANA, CA 121,426121.4k $8.7m $8.7m 0.95% Added +119.9k +119,897
30 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 118,076118.1k $7.9m $7.9m 0.00% Reduced -2.9m -2,935,266
31 LaSalle St. Investment Advisors, LLC 1.17% of their portfolio ELMHURST, IL 115,844115.8k $8.3m $8.3m 1.17% New
32 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 105,732105.7k $7.6m $7.6m 0.01% Reduced -121.3k -121,293
33 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 88,59588.6k $5.9m $5.9m 0.00% Added +52 +52
34 Encompass More Asset Management 1.00% of their portfolio Danville, CA 83,07583.1k $5.9m $5.9m 1.00% Reduced -6.2k -6,210
35 SEEDS INVESTOR LLC 0.80% of their portfolio NEW YORK, NY 77,68577.7k $5.9m $5.9m 0.80% Reduced -309 -309
36 Pettinga Financial Advisors LLC 1.04% of their portfolio EVANSVILLE, IN 77,30777.3k $5.5m $5.5m 1.04% Reduced -22.6k -22,588
37 Global Wealth Management, LLC 3.01% of their portfolio KINGSTON, NJ 77,04177.0k $5.5m $5.5m 3.01% Added +750 +750
38 Avior Wealth Management, LLC 0.15% of their portfolio OMAHA, NE 74,88774.9k $5.4m $5.4m 0.15% Reduced -44.5k -44,524
39 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 72,29672.3k $5.2m $5.2m 0.00% Added +55.1k +55,089
40 BYRNE FINANCIAL FREEDOM, LLC 2.47% of their portfolio FRANKLIN, MA 72,18472.2k $5.2m $5.2m 2.47% New
41 Mariner, LLC 0.01% of their portfolio Overland Park, KS 72,06072.1k $5.2m $5.2m 0.01% Added +27.5k +27,540
42 INTREPID FAMILY OFFICE LLC 4.48% of their portfolio SARASOTA, FL 72,00072.0k $5.2m $5.2m 4.48% Reduced -5.0k -5,000
43 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.26% of their portfolio CEDAR RAPIDS, IA 69,93869.9k $5.0m $5.0m 0.26% Reduced -15.2k -15,181
44 OneDigital Investment Advisors LLC 0.05% of their portfolio OVERLAND PARK, KS 68,44068.4k $4.9m $4.9m 0.05% Reduced -20.1k -20,135
45 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 66,57666.6k $4.8m $4.8m 0.00% Reduced -25.3k -25,297
46 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 66,31066.3k $4.7m $4.7m 0.01% Reduced -79.8k -79,833
47 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 65,85565.9k $4.7m $4.7m 0.02% Added +14.7k +14,672
48 AE Wealth Management LLC 0.02% of their portfolio TOPEKA, KS 62,97663.0k $4.5m $4.5m 0.02% Reduced -158.5k -158,503
49 CWM, LLC 0.01% of their portfolio OMAHA, NE 61,25161.3k $4.4m $4.4m 0.01% Added +1.7k +1,726
50 Simplicity Wealth,LLC 0.24% of their portfolio SUMMIT, NJ 59,62459.6k $4.3m $4.3m 0.24% Added +3.7k +3,717
51 Arcus Capital Partners, LLC 1.49% of their portfolio ATLANTA, GA 58,07858.1k $4.2m $4.2m 1.49% Added +14 +14
52 Richard C. Young & CO., LTD. 0.34% of their portfolio NEWPORT, RI 57,95058.0k $4.1m $4.1m 0.34% Reduced -741 -741
53 Apeiron RIA LLC 0.93% of their portfolio Dallas, TX 56,10056.1k $4.0m $4.0m 0.93% Reduced -16.4k -16,404
54 Systelligence, LLC 0.77% of their portfolio BLOOMINGTON, MN 55,41455.4k $4.0m $4.0m 0.77% Reduced -77.8k -77,836
55 Virtu Financial LLC 0.16% of their portfolio New York, NY 55,21155.2k $4.0m $4.0m 0.16% New
56 New York Life Investment Management LLC 0.03% of their portfolio New York, NY 55,06155.1k $3.9m $3.9m 0.03% Added +15.4k +15,435
57 Asset One Wealth Management LLC 0.43% of their portfolio BELLEVUE, WA 53,61253.6k $3.9m $3.9m 0.43% Added +737 +737
58 WT Wealth Management 1.11% of their portfolio SCOTTSDALE, AZ 52,03552.0k $3.7m $3.7m 1.11% Reduced -7.9k -7,924
59 MYECFO, LLC 1.54% of their portfolio La Jolla, CA 51,45751.5k $3.7m $3.7m 1.54% Reduced -4.7k -4,650
60 Stratos Wealth Partners, LTD. 0.04% of their portfolio BEACHWOOD, OH 51,42551.4k $3.7m $3.7m 0.04% Reduced -2.2k -2,187
61 Silver Coast Investments LLC 1.17% of their portfolio SAN DIEGO, X1 51,04451.0k $3.7m $3.7m 1.17% Reduced -2.1k -2,115
62 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 50,75450.8k $3.6m $3.6m 0.00% Reduced -15.5k -15,452
63 LEVEL FOUR ADVISORY SERVICES, LLC 0.12% of their portfolio DALLAS, TX 50,42250.4k $3.6m $3.6m 0.12% Added +37.3k +37,258
64 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 50,10450.1k $3.6m $3.6m 0.00% Reduced -1.6k -1,585
65 Wealth Watch Advisors, INC 1.47% of their portfolio ENGLEWOOD, CO 49,01249.0k $3.5m $3.5m 1.47% Added +3.2k +3,178
66 Marble Harbor Investment Counsel, LLC 0.38% of their portfolio BOSTON, MA 48,34048.3k $3.5m $3.5m 0.38% Reduced -7.3k -7,260
67 PRINCIPAL SECURITIES, INC. 0.05% of their portfolio DES MOINES, IA 46,76146.8k $3.3m $3.3m 0.05% Reduced -9.5k -9,549
68 Jump Financial, LLC 0.05% of their portfolio Chicago, IL 45,21145.2k $3.2m $3.2m 0.05% New
69 GROUP ONE TRADING LLC 0.10% of their portfolio CHICAGO, IL 43,59043.6k $3.1m $3.1m 0.10% Added +30.7k +30,659
70 SMART Wealth LLC 0.91% of their portfolio Omaha, NE 43,35943.4k $3.1m $3.1m 0.91% Reduced -24.9k -24,881
71 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 41,79041.8k $3.0m $3.0m 0.02% New
72 SPROTT INC. 0.09% of their portfolio TORONTO, A6 41,24341.2k $3.0m $3.0m 0.09% Reduced -4.0k -4,015
73 Sowell Financial Services LLC 0.11% of their portfolio NORTH LITTLE ROCK, AR 40,41440.4k $2.9m $2.9m 0.11% Reduced -429 -429
74 Vontobel Holding Ltd. 0.01% of their portfolio ZURICH, V8 40,32040.3k $2.9m $2.9m 0.01% Added +22.2k +22,170
75 Empowered Funds, LLC 0.02% of their portfolio NEWTOWN SQUARE, PA 38,66638.7k $2.8m $2.8m 0.02% New
76 Fielder Capital Group LLC 0.59% of their portfolio NASHVILLE, TN 37,85137.9k $2.7m $2.7m 0.59% Reduced -43.0k -43,011
77 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 36,67236.7k $2.6m $2.6m 0.01% Reduced -18.7k -18,653
78 Cardinal Strategic Wealth Guidance 0.68% of their portfolio LOUISVILLE, KY 36,09436.1k $2.6m $2.6m 0.68% Reduced -1.0k -1,029
79 Foundations Investment Advisors, LLC 0.03% of their portfolio PHOENIX, AZ 35,77835.8k $2.6m $2.6m 0.03% Added +19.1k +19,086
80 Alpine Bank Wealth Management 0.35% of their portfolio GRAND JUNCTION, CO 34,00034.0k $2.4m $2.4m 0.35% Unchanged
81 Clearstead Advisors, LLC 0.02% of their portfolio CLEVELAND, OH 33,52533.5k $2.4m $2.4m 0.02% Reduced -613 -613
82 Leo Wealth, LLC 0.17% of their portfolio HURST, TX 32,85832.9k $2.4m $2.4m 0.17% Added +2.1k +2,108
83 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 32,28232.3k $2.3m $2.3m 0.01% Added +6.2k +6,232
84 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 31,71331.7k $2.3m $2.3m 0.02% Added +377 +377
85 Prospera Financial Services Inc 0.03% of their portfolio Dallas, TX 30,26530.3k $2.2m $2.2m 0.03% Added +3.4k +3,386
86 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 29,87229.9k $2.1m $2.1m 0.00% Added +176 +176
87 Transamerica Financial Advisors, LLC 0.18% of their portfolio CEDAR RAPIDS, IA 29,39629.4k $2.1m $2.1m 0.18% Added +181 +181
88 Arta Finance Wealth Management LLC 1.03% of their portfolio MOUNTAIN VIEW, CA 29,18629.2k $2.1m $2.1m 1.03% Added +7.3k +7,300
89 Belpointe Asset Management LLC 0.07% of their portfolio RENO, NV 28,28528.3k $2.0m $2.0m 0.07% New
90 SHEETS SMITH WEALTH MANAGEMENT 0.22% of their portfolio WINSTON-SALEM, NC 27,02427.0k $1.9m $1.9m 0.22% Reduced -380 -380
91 NewEdge Wealth, LLC 0.02% of their portfolio STAMFORD, CT 26,50026.5k $1.9m $1.9m 0.02% Unchanged
92 Acorn Wealth Advisors, LLC 0.55% of their portfolio Grand Blanc, MI 26,45926.5k $1.9m $1.9m 0.55% Added +254 +254
93 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 26,30026.3k $1.1m $1.1m 0.00% New
94 Mutual Advisors, LLC 0.04% of their portfolio OMAHA, NE 26,04926.0k $1.9m $1.9m 0.04% Reduced -28.7k -28,716
95 Allworth Financial LP 0.01% of their portfolio FOLSOM, CA 26,02326.0k $1.9m $1.9m 0.01% Added +24.2k +24,245
96 HARBOUR INVESTMENT MANAGEMENT LLC 1.01% of their portfolio EDMONDS, WA 26,00026.0k $1.9m $1.9m 1.01% Unchanged
97 Pinnacle Financial Partners, Inc. 0.01% of their portfolio ATLANTA, GA 25,67625.7k $1.8m $1.8m 0.01% Added +1.9k +1,934
98 Blue Capital, Inc. 1.18% of their portfolio OMAHA, NE 25,28525.3k $1.8m $1.8m 1.18% Reduced -2.9k -2,851
99 FLP Wealth Management, LLC 3.72% of their portfolio BENTONVILLE, AR 25,19925.2k $1.8m $1.8m 3.72% Reduced -24.4k -24,391
100 MAINSTAY CAPITAL MANAGEMENT LLC /ADV 0.14% of their portfolio GRAND BLANC, MI 24,67024.7k $1.8m $1.8m 0.14% New