Vault-13

SPROTT PHYSICAL GOLD TR PHYS

UNIT · Closed-End Fund · CUSIP 85207H104

559 institutional holders +18 vs Q1 2025
148,430,153148.4m shares reported held*
$3.8bnreported value*
45 new 172 added 177 reduced 32 sold out net bought ≈ $571.6m (+22.5m 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 ($13.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $25.40.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 367Q4 22: 385Q1 23: 389Q2 23: 384Q3 23: 391Q4 23: 405Q1 24: 411Q2 24: 434Q3 24: 467Q4 24: 494Q1 25: 541Q2 25: 559559Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022367
Q4 2022385
Q1 2023389
Q2 2023384
Q3 2023391
Q4 2023405
Q1 2024411
Q2 2024434
Q3 2024467
Q4 2024494
Q1 2025541
Q2 2025559

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 118 bought or addedQ3 23: 146 cut or sold outQ4 23: 132 bought or addedQ4 23: 135 cut or sold outQ4 23Q1 24: 140 bought or addedQ1 24: 146 cut or sold outQ2 24: 178 bought or addedQ2 24: 134 cut or sold outQ2 24Q3 24: 179 bought or addedQ3 24: 143 cut or sold outQ4 24: 190 bought or addedQ4 24: 147 cut or sold outQ4 24Q1 25: 237 bought or addedQ1 25: 173 cut or sold outQ2 25: 217 bought or addedQ2 25: 209 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023118146
Q4 2023132135
Q1 2024140146
Q2 2024178134
Q3 2024179143
Q4 2024190147
Q1 2025237173
Q2 2025217209

Biggest buyers

Polar Asset Management Partners Inc. Added +11,987,630+12.0m
ROYAL BANK OF CANADA Added +8,588,384+8.6m
IMC-Chicago, LLC Added +3,095,611+3.1m
JANE STREET GROUP, LLC Added +642,224+642.2k
Kestra Advisory Services, LLC Added +420,430+420.4k
HENGEHOLD CAPITAL MANAGEMENT LLC Added +414,288+414.3k
WINNACLE WEALTH LLC New +371,431+371.4k
JUPITER ASSET MANAGEMENT LTD Added +296,330+296.3k
Tidal Investments LLC Added +277,648+277.6k
Sowell Financial Services LLC Added +256,961+257.0k

Biggest sellers

WEALTHCARE CAPITAL MANAGEMENT LLC Reduced -621,232-621.2k
Whitaker-Myers Wealth Managers, LTD. Reduced -613,807-613.8k
Marex Group Ltd Sold out -608,830-608.8k
BAROMETER CAPITAL MANAGEMENT INC. Reduced -428,370-428.4k
RAYMOND JAMES FINANCIAL INC Reduced -387,859-387.9k
CENTRAL TRUST Co Reduced -382,825-382.8k
Geneos Wealth Management Inc. Reduced -293,158-293.2k
Atria Wealth Solutions, Inc. Reduced -283,034-283.0k
OSAIC HOLDINGS, INC. Reduced -281,992-282.0k
Bleakley Financial Group, LLC Reduced -253,333-253.3k

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 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 16,506,36216.5m $418.4m $418.4m 0.04% Added +8.6m +8,588,384
2 Polar Asset Management Partners Inc. 9.99% of their portfolio TORONTO, A6 15,809,18515.8m $400.8m $400.8m 9.99% Added +12.0m +11,987,630
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 5,524,8185.5m $140.1m $140.1m 0.01% Reduced -203.0k -202,989
4 Federation des caisses Desjardins du Quebec 0.59% of their portfolio LEVIS, A8 5,345,3625.3m $134.6m $134.6m 0.59% Added +41.3k +41,316
5 Evanson Asset Management, LLC 7.63% of their portfolio CARMEL, CA 4,843,0864.8m $122.8m $122.8m 7.63% Reduced -183.5k -183,503
6 Pekin Hardy Strauss, Inc. 12.45% of their portfolio CHICAGO, IL 4,310,8584.3m $109.3m $109.3m 12.45% Added +84.3k +84,300
7 CENTRAL TRUST Co 2.49% of their portfolio JEFFERSON CITY, MO 4,261,1484.3m $108.0m $108.0m 2.49% Reduced -382.8k -382,825
8 IMC-Chicago, LLC 2.03% of their portfolio CHICAGO, IL 3,204,2433.2m $81.2m $81.2m 2.03% Added +3.1m +3,095,611
9 Bleakley Financial Group, LLC 1.62% of their portfolio PARSIPPANY, NJ 2,519,0412.5m $63.9m $63.9m 1.62% Reduced -253.3k -253,333
10 Cambridge Investment Research Advisors, Inc. 0.19% of their portfolio FAIRFIELD, IA 2,505,0482.5m $63.5m $63.5m 0.19% Added +137.9k +137,871
11 CAPTRUST FINANCIAL ADVISORS 0.14% of their portfolio RALEIGH, NC 2,453,3402.5m $62.2m $62.2m 0.14% Added +22.8k +22,778
12 JUPITER ASSET MANAGEMENT LTD 0.47% of their portfolio London, X0 2,249,5082.2m $56.8m $56.8m 0.47% Added +296.3k +296,330
13 MATAURO, LLC 9.61% of their portfolio NEW YORK, NY 2,020,0002.0m $51.2m $51.2m 9.61% Reduced -121.0k -121,018
14 SPROTT INC. 2.46% of their portfolio TORONTO, A6 1,942,4291.9m $49.2m $49.2m 2.46% Reduced -45.8k -45,807
15 SouthState Bank Corp 2.07% of their portfolio Winter Haven, FL 1,871,4901.9m $47.4m $47.4m 2.07% Reduced -13.6k -13,585
16 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,689,7841.7m $42.8m $42.8m 0.01% Reduced -387.9k -387,859
17 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,661,9061.7m $42.1m $42.1m 0.01% Added +201.6k +201,616
18 JANE STREET GROUP, LLC 0.07% of their portfolio NEW YORK, NY 1,618,2761.6m $41.0m $41.0m 0.07% Added +642.2k +642,224
19 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 1,617,1701.6m $41.0m $41.0m 0.01% Reduced -65.1k -65,141
20 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,602,9411.6m $40.6m $40.6m 0.01% Added +86.4k +86,437
21 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 1,453,6241.5m $36.8m $36.8m 0.05% Reduced -78.6k -78,635
22 Forest Hill Capital, LLC 26.05% of their portfolio LITTLE ROCK, AR 1,448,5001.4m $36.7m $36.7m 26.05% Unchanged
23 Kestra Advisory Services, LLC 0.18% of their portfolio AUSTIN, TX 1,418,2761.4m $36.0m $36.0m 0.18% Added +420.4k +420,430
24 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 1,199,3101.2m $30.4m $30.4m 0.05% Added +44.2k +44,234
25 Private Advisor Group, LLC 0.16% of their portfolio MORRISTOWN, NJ 1,192,9041.2m $30.2m $30.2m 0.16% Reduced -114.8k -114,794
26 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 1,162,6411.2m $29.7m $29.7m 0.05% Reduced -9.7k -9,743
27 Basepoint Wealth LLC 21.52% of their portfolio CEDAR RAPIDS, IA 1,098,5421.1m $27.8m $27.8m 21.52% Reduced -58.4k -58,352
28 WEALTHCARE CAPITAL MANAGEMENT LLC 2.89% of their portfolio RICHMOND, VA 1,077,9571.1m $27.3m $27.3m 2.89% Reduced -621.2k -621,232
29 Auxano Advisors, LLC 5.97% of their portfolio BELLEVUE, WA 1,007,8061.0m $25.5m $25.5m 5.97% Reduced -12.8k -12,806
30 Capital Wealth Alliance, LLC 13.26% of their portfolio Scottsdale, AZ 972,985973.0k $24.7m $24.7m 13.26% Added +655 +655
31 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 971,062971.1k $24.6m $24.6m 0.03% Added +71.3k +71,279
32 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 969,658969.7k $24.6m $24.6m 0.02% Added +26.2k +26,246
33 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 927,690927.7k $23.5m $23.5m 0.04% Reduced -282.0k -281,992
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 909,453909.5k $23.1m $23.1m 0.00% Reduced -28.6k -28,559
35 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 881,244881.2k $30.4m $30.4m 0.02% Added +69.0k +68,986
36 SCOTIA CAPITAL INC. 0.10% of their portfolio TORONTO, A6 868,624868.6k $22.2m $22.2m 0.10% Added +110.5k +110,525
37 Tidal Investments LLC 0.14% of their portfolio Milwaukee, WI 867,575867.6k $22.0m $22.0m 0.14% Added +277.6k +277,648
38 VAN DEN BERG MANAGEMENT I, INC 6.24% of their portfolio AUSTIN, TX 866,612866.6k $22.0m $22.0m 6.24% Reduced -5.9k -5,917
39 SCHWARZ DYGOS WHEELER INVESTMENT ADVISORS LLC 5.00% of their portfolio MINNEAPOLIS, MN 866,257866.3k $22.0m $22.0m 5.00% Added +6.0k +6,046
40 Baird Financial Group, Inc. 0.04% of their portfolio MILWAUKEE, WI 792,223792.2k $20.1m $20.1m 0.04% Added +19.3k +19,349
41 3EDGE Asset Management, LP 1.07% of their portfolio Naples, FL 688,425688.4k $17.2m $17.2m 1.07% Added +15.7k +15,674
42 Cyndeo Wealth Partners, LLC 1.01% of their portfolio ST. PETERSBURG, FL 672,339672.3k $17.0m $17.0m 1.01% Added +6.9k +6,909
43 Meixler Investment Management, Ltd. 11.04% of their portfolio SHOW LOW, AZ 631,977632.0k $16.0m $16.0m 11.04% Reduced -22.3k -22,293
44 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 625,040625.0k $15.8m $15.8m 0.02% Added +4.4k +4,351
45 Concorde Financial Corp 9.31% of their portfolio DALLAS, TX 620,923620.9k $15.7m $15.7m 9.31% Reduced -222.4k -222,374
46 Cannell & Spears LLC 0.31% of their portfolio NEW YORK, NY 614,790614.8k $15.6m $15.6m 0.31% Reduced -800 -800
47 CIBC WORLD MARKET INC. 0.03% of their portfolio TORONTO, A6 600,115600.1k $15.2m $15.2m 0.03% Added +40.3k +40,271
48 Beacon Pointe Advisors, LLC 0.16% of their portfolio NEWPORT BEACH, CA 597,781597.8k $15.2m $15.2m 0.16% Added +43.3k +43,296
49 TCP Asset Management, LLC 2.88% of their portfolio Upper Arlington, OH 572,423572.4k $14.5m $14.5m 2.88% Reduced -34.1k -34,062
50 AVANTAX ADVISORY SERVICES, INC. 0.08% of their portfolio DALLAS, TX 545,100545.1k $13.8m $13.8m 0.08% Added +133.0k +132,995
51 FIDELIS CAPITAL PARTNERS, LLC 1.28% of their portfolio TAMPA, FL 543,915543.9k $14.1m $14.1m 1.28% Reduced -9.4k -9,365
52 O'Brien Greene & Co. Inc 4.48% of their portfolio MEDIA, PA 540,386540.4k $13.7m $13.7m 4.48% Added +30.0k +30,014
53 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 518,149518.1k $12.9m $12.9m 0.01% Added +18.6k +18,633
54 COHEN & STEERS, INC. 0.02% of their portfolio NEW YORK, NY 502,155502.2k $12.7m $12.7m 0.02% Unchanged
55 Mountain Lake Investment Management LLC 10.35% of their portfolio SAN FRANCISCO, CA 490,593490.6k $12.4m $12.4m 10.35% Unchanged
56 Wealthcare Advisory Partners LLC 0.28% of their portfolio WEST CHESTER, PA 488,158488.2k $12.4m $12.4m 0.28% Reduced -53.5k -53,546
57 Prospera Financial Services Inc 0.23% of their portfolio Dallas, TX 482,843482.8k $12.2m $12.2m 0.23% Added +160.8k +160,832
58 HENGEHOLD CAPITAL MANAGEMENT LLC 1.05% of their portfolio CINCINNATI, OH 456,451456.5k $11.6m $11.6m 1.05% Added +414.3k +414,288
59 Quilter Plc 0.21% of their portfolio LONDON, X0 448,093448.1k $11.4m $11.4m 0.21% Reduced -11.6k -11,638
60 Integrated Wealth Concepts LLC 0.11% of their portfolio WALTHAM, MA 447,302447.3k $11.3m $11.3m 0.11% Reduced -124.4k -124,398
61 Essential Partners LLC 4.20% of their portfolio RANCHO SANTA FE, CA 415,272415.3k $10.5m $10.5m 4.20% First filing
62 Essex Financial Services, Inc. 0.67% of their portfolio ESSEX, CT 405,197405.2k $10.3m $10.3m 0.67% Reduced -12.5k -12,549
63 Global Endowment Management, LP 1.34% of their portfolio CHARLOTTE, NC 396,000396.0k $10.0m $10.0m 1.34% Unchanged
64 Farther Finance Advisors, LLC 0.19% of their portfolio SAN FRANCISCO, CA 380,575380.6k $9.6m $9.6m 0.19% Added +205.7k +205,733
65 Accordant Advisory Group Inc 7.01% of their portfolio ANNAPOLIS, MD 371,431371.4k $9.4m $9.4m 7.01% Added +35.3k +35,343
66 WINNACLE WEALTH LLC 7.01% of their portfolio WACO, TX 371,431371.4k $9.4m $9.4m 7.01% New
67 Guild Investment Management, Inc. 8.00% of their portfolio WESTLAKE VILLAGE, CA 363,455363.5k $9.2m $9.2m 8.00% Reduced -21.6k -21,584
68 PHILADELPHIA TRUST CO 0.70% of their portfolio PHILADELPHIA, PA 359,487359.5k $9.1m $9.1m 0.70% Reduced -69.6k -69,627
69 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.06% of their portfolio NEW YORK, NY 355,694355.7k $9.0m $9.0m 0.06% Reduced -9.2k -9,236
70 CHEMUNG CANAL TRUST CO 1.89% of their portfolio ELMIRA, NY 354,550354.6k $9.0m $9.0m 1.89% Reduced -4.2k -4,165
71 Mariner, LLC 0.01% of their portfolio Overland Park, KS 346,603346.6k $8.8m $8.8m 0.01% Reduced -205.1k -205,099
72 SMI Advisory Services, LLC 1.69% of their portfolio COLUMBUS, IN 341,901341.9k $8.8m $8.8m 1.69% Reduced -3.4k -3,384
73 TIAA TRUST, NATIONAL ASSOCIATION 0.02% of their portfolio CHARLOTTE, NC 338,085338.1k $8.6m $8.6m 0.02% Added +216.2k +216,160
74 Strategic Blueprint, LLC 0.42% of their portfolio ATLANTA, GA 334,126334.1k $8.5m $8.5m 0.42% Added +20.9k +20,888
75 Sanctuary Advisors, LLC 0.05% of their portfolio INDIANAPOLIS, IN 323,213323.2k $8.2m $8.2m 0.05% Added +13.4k +13,353
76 Vident Advisory, LLC 0.09% of their portfolio Alpharetta, GA 322,264322.3k $8.2m $8.2m 0.09% Reduced -13.1k -13,109
77 Pacific Sage Partners, LLC 1.61% of their portfolio EDMONDS, WA 320,153320.2k $8.1m $8.1m 1.61% Reduced -6.8k -6,832
78 TRANSCEND CAPITAL ADVISORS, LLC 0.61% of their portfolio MADISON, NJ 309,749309.7k $7.9m $7.9m 0.61% Added +73.9k +73,878
79 Sowell Financial Services LLC 0.32% of their portfolio NORTH LITTLE ROCK, AR 308,088308.1k $7.8m $7.8m 0.32% Added +257.0k +256,961
80 Advisory Services Network, LLC 0.12% of their portfolio ATLANTA, GA 306,447306.4k $7.7m $7.7m 0.12% Reduced -24.1k -24,105
81 Laird Norton Wetherby Trust Company, LLC 1.06% of their portfolio Seattle, WA 304,656304.7k $7.7m $7.7m 1.06% Added +22.4k +22,363
82 Ancora Advisors LLC 0.16% of their portfolio Cleveland, OH 303,396303.4k $7.7m $7.7m 0.16% Added +25.5k +25,518
83 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 300,116300.1k $7.6m $7.6m 0.02% Reduced -86.6k -86,647
84 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 299,483299.5k $7.6m $7.6m 0.00% Reduced -236.5k -236,521
85 Amitell Capital Pte Ltd 4.21% of their portfolio SINGAPORE, U0 295,959296.0k $7.5m $7.5m 4.21% Unchanged
86 Biltmore Family Office, LLC 1.26% of their portfolio CHARLOTTE, NC 294,990295.0k $7.5m $7.5m 1.26% Reduced -4.5k -4,485
87 BAILARD, INC. 0.17% of their portfolio Foster City, CA 294,738294.7k $7.5m $7.5m 0.17% Unchanged
88 Ausdal Financial Partners, Inc. 0.49% of their portfolio Davenport, IA 292,451292.5k $7.4m $7.4m 0.49% Added +56.2k +56,154
89 TD Waterhouse Canada Inc. 0.05% of their portfolio TORONTO, A6 290,527290.5k $7.4m $7.4m 0.05% Added +59.4k +59,362
90 Steward Partners Investment Advisory, LLC 0.06% of their portfolio STAMFORD, CT 281,887281.9k $7.1m $7.1m 0.06% Reduced -16.7k -16,742
91 Summit Financial, LLC 0.16% of their portfolio PARSIPPANY, NJ 276,106276.1k $7.0m $7.0m 0.16% Added +232.4k +232,447
92 K.J. Harrison & Partners Inc 1.15% of their portfolio TORONTO, A6 274,198274.2k $6.9m $6.9m 1.15% Added +93.8k +93,750
93 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 269,916269.9k $6.8m $6.8m 0.01% Added +134.1k +134,088
94 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 266,261266.3k $6.7m $6.7m 0.00% Added +252.8k +252,761
95 COURAGE CAPITAL MANAGEMENT LLC 9.89% of their portfolio NASHVILLE, TN 264,500264.5k $6.7m $6.7m 9.89% Unchanged
96 Manatuck Hill Partners, LLC 2.50% of their portfolio WESTPORT, CT 262,500262.5k $6.7m $6.7m 2.50% Reduced -150.0k -150,000
97 Hubbell Strickland Wealth Management, LLC 2.91% of their portfolio NEW ORLEANS, LA 259,978260.0k $6.6m $6.6m 2.91% Reduced -5.9k -5,887
98 BLAIR WILLIAM & CO/IL 0.02% of their portfolio CHICAGO, IL 258,356258.4k $6.5m $6.5m 0.02% Reduced -41.8k -41,849
99 PFG Investments, LLC 0.38% of their portfolio WOODBURY, NY 257,811257.8k $6.5m $6.5m 0.38% Added +1.3k +1,290
100 EVERGREEN CAPITAL MANAGEMENT LLC 0.19% of their portfolio Bellevue, WA 254,542254.5k $6.5m $6.5m 0.19% Reduced -4.6k -4,638