Vault-13

SPROTT PHYSICAL SILVER TR PSLV

TR UNIT · Closed-End Fund · CUSIP 85207K107

483 institutional holders +62 vs Q3 2025
140,891,453140.9m shares reported held*
$3.3bnreported value*
76 new 144 added 137 reduced 30 sold out net sold ≈ $29.8m (-1.6m 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 ($67.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $23.73. Options: 1 managers hold calls ($4.2m notional), 1 hold puts ($1.8m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 283Q4 22: 308Q1 23: 302Q2 23: 312Q3 23: 315Q4 23: 318Q1 24: 325Q2 24: 333Q3 24: 344Q4 24: 374Q1 25: 388Q2 25: 404Q3 25: 421Q4 25: 483483Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022283
Q4 2022308
Q1 2023302
Q2 2023312
Q3 2023315
Q4 2023318
Q1 2024325
Q2 2024333
Q3 2024344
Q4 2024374
Q1 2025388
Q2 2025404
Q3 2025421
Q4 2025483

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 24: 97 bought or addedQ1 24: 125 cut or sold outQ2 24: 138 bought or addedQ2 24: 95 cut or sold outQ2 24Q3 24: 140 bought or addedQ3 24: 98 cut or sold outQ4 24: 151 bought or addedQ4 24: 104 cut or sold outQ4 24Q1 25: 165 bought or addedQ1 25: 103 cut or sold outQ2 25: 192 bought or addedQ2 25: 107 cut or sold outQ2 25Q3 25: 201 bought or addedQ3 25: 111 cut or sold outQ4 25: 220 bought or addedQ4 25: 167 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202497125
Q2 202413895
Q3 202414098
Q4 2024151104
Q1 2025165103
Q2 2025192107
Q3 2025201111
Q4 2025220167

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $5.2mQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $4.2mQ4 25 puts: $1.8mQ4 25P/C 0.44
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$5.2m$00.00
Q4 2025$4.2m$1.8m0.44

Biggest buyers

ALPS ADVISORS INC Added +2,334,928+2.3m
Federation des caisses Desjardins du Quebec Added +681,981+682.0k
SCOTIA CAPITAL INC. Added +504,747+504.7k
LPL Financial LLC Added +504,474+504.5k
Kestra Advisory Services, LLC Added +493,967+494.0k
Forest Hill Capital, LLC New +388,000+388.0k
MORGAN STANLEY Added +353,293+353.3k
RAYMOND JAMES FINANCIAL INC Added +335,677+335.7k
Cambridge Investment Research Advisors, Inc. Added +327,169+327.2k
WIT Partners Advisory Pte. Ltd. Added +323,722+323.7k

Biggest sellers

BlackRock, Inc. Reduced -4,320,467-4.3m
3EDGE Asset Management, LP Sold out -2,185,269-2.2m
JANE STREET GROUP, LLC Reduced -1,310,525-1.3m
Equinox Partners Investment Management LLC Reduced -560,900-560.9k
JUPITER ASSET MANAGEMENT LTD Reduced -423,011-423.0k
BANK OF MONTREAL /CAN/ Reduced -297,510-297.5k
Capital Wealth Alliance, LLC Reduced -238,916-238.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -229,455-229.5k
STIFEL FINANCIAL CORP Reduced -208,161-208.2k
WEALTHCARE CAPITAL MANAGEMENT LLC Reduced -205,155-205.2k

Biggest calls

SIG North Trading, ULC New $4.2m176.3k shares

Biggest puts

SIG North Trading, ULC New $1.8m76.8k 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 Q4 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 Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock, Inc. 0.01% of their portfolio New York, NY 18,517,07718.5m $437.9m $437.9m 0.01% Reduced -4.3m -4,320,467
2 Federation des caisses Desjardins du Quebec 1.54% of their portfolio LEVIS, A8 17,091,40417.1m $403.7m $403.7m 1.54% Added +682.0k +681,981
3 JUPITER ASSET MANAGEMENT LTD 1.77% of their portfolio London, X0 9,391,1479.4m $220.5m $220.5m 1.77% Reduced -423.0k -423,011
4 ALPS ADVISORS INC 0.74% of their portfolio Denver, CO 5,387,6305.4m $127.4m $127.4m 0.74% Added +2.3m +2,334,928
5 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,760,7614.8m $112.6m $112.6m 0.01% Added +353.3k +353,293
6 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 3,674,3683.7m $86.9m $86.9m 0.02% Added +162.1k +162,085
7 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 3,525,1953.5m $83.4m $83.4m 0.02% Added +504.5k +504,474
8 Polar Asset Management Partners Inc. 1.61% of their portfolio TORONTO, A6 3,437,2323.4m $81.3m $81.3m 1.61% Unchanged
9 Capital Wealth Alliance, LLC 26.08% of their portfolio Scottsdale, AZ 2,223,5822.2m $61.0m $61.0m 26.08% Reduced -238.9k -238,916
10 SPROTT INC. 1.86% of their portfolio TORONTO, A6 2,188,8832.2m $51.8m $51.8m 1.86% Added +232.0k +232,021
11 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,060,4862.1m $48.9m $48.9m 0.01% Reduced -108.5k -108,479
12 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,670,4501.7m $39.5m $39.5m 0.01% Added +335.7k +335,677
13 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 1,653,7751.7m $39.1m $39.1m 0.04% Added +110.0k +109,972
14 FIDELIS CAPITAL PARTNERS, LLC 2.83% of their portfolio TAMPA, FL 1,649,1601.6m $39.0m $39.0m 2.83% Added +31.0k +31,000
15 Kestra Advisory Services, LLC 0.15% of their portfolio AUSTIN, TX 1,583,2291.6m $37.4m $37.4m 0.15% Added +494.0k +493,967
16 Prospera Financial Services Inc 0.59% of their portfolio Dallas, TX 1,525,0211.5m $36.1m $36.1m 0.59% Added +233.5k +233,495
17 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 1,522,5621.5m $36.0m $36.0m 0.05% Reduced -16.0k -15,993
18 Basepoint Wealth LLC 21.56% of their portfolio CEDAR RAPIDS, IA 1,500,3441.5m $35.5m $35.5m 21.56% Reduced -120.1k -120,078
19 HOLLENCREST CAPITAL MANAGEMENT 1.14% of their portfolio NEWPORT BEACH, CA 1,393,0501.4m $32.9m $32.9m 1.14% Reduced -2.8k -2,797
20 Beacon Pointe Advisors, LLC 0.21% of their portfolio NEWPORT BEACH, CA 1,276,2591.3m $30.2m $30.2m 0.21% Added +7.0k +7,022
21 Cedrus Wealth Group LLC 26.12% of their portfolio ANDOVER, MN 1,197,6761.2m $28.3m $28.3m 26.12% First filing
22 WEALTHCARE CAPITAL MANAGEMENT LLC 2.80% of their portfolio RICHMOND, VA 1,193,9131.2m $28.2m $28.2m 2.80% Reduced -205.2k -205,155
23 Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio FAIRFIELD, IA 1,145,2831.1m $27.1m $27.1m 0.07% Added +327.2k +327,169
24 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 1,105,8791.1m $26.2m $26.2m 0.01% Added +88.9k +88,861
25 Cyndeo Wealth Partners, LLC 1.35% of their portfolio ST. PETERSBURG, FL 1,056,7271.1m $25.0m $25.0m 1.35% Added +19.2k +19,200
26 CIBC WORLD MARKET INC. 0.04% of their portfolio TORONTO, A6 935,256935.3k $22.1m $22.1m 0.04% Added +85.9k +85,908
27 Pekin Hardy Strauss, Inc. 2.02% of their portfolio CHICAGO, IL 922,665922.7k $21.8m $21.8m 2.02% Reduced -27.1k -27,051
28 Equinox Partners Investment Management LLC 11.27% of their portfolio STAMFORD, CT 912,100912.1k $21.6m $21.6m 11.27% Reduced -560.9k -560,900
29 World Investment Advisors 0.35% of their portfolio LINCROFT, NJ 889,940889.9k $21.0m $21.0m 0.35% Added +118.4k +118,445
30 Summit Financial, LLC 0.30% of their portfolio PARSIPPANY, NJ 855,109855.1k $20.2m $20.2m 0.30% Added +62.0k +61,995
31 Marex Group Ltd 0.22% of their portfolio London, X0 851,673851.7k $20.1m $20.1m 0.22% Added +79.7k +79,660
32 WIT Partners Advisory Pte. Ltd. 6.59% of their portfolio SINGAPORE, U0 847,792847.8k $19.0m $19.0m 6.59% Added +323.7k +323,722
33 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.03% of their portfolio PLYMOUTH, MN 838,636838.6k $22.5m $22.5m 0.03% Added +65.8k +65,770
34 TIAA TRUST, NATIONAL ASSOCIATION 0.05% of their portfolio CHARLOTTE, NC 796,744796.7k $18.8m $18.8m 0.05% Unchanged
35 HATCH COVE CAPITAL, LLC 7.30% of their portfolio CHICAGO, IL 790,900790.9k $18.7m $18.7m 7.30% First filing
36 Grand Central Investment Group 13.54% of their portfolio TAMPA, FL 788,669788.7k $18.7m $18.7m 13.54% First filing
37 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 752,649752.6k $17.8m $17.8m 0.02% Reduced -208.2k -208,161
38 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 726,964727.0k $17.2m $17.2m 0.02% Added +52.1k +52,131
39 Geneos Wealth Management Inc. 0.42% of their portfolio ENGLEWOOD, CO 720,082720.1k $17.0m $17.0m 0.42% Reduced -149.8k -149,846
40 K.J. Harrison & Partners Inc 2.25% of their portfolio TORONTO, A6 713,622713.6k $16.9m $16.9m 2.25% Added +279.7k +279,665
41 COHEN & STEERS, INC. 0.03% of their portfolio NEW YORK, NY 652,145652.1k $15.4m $15.4m 0.03% Added +55.0k +55,000
42 Asset One Wealth Management LLC 2.30% of their portfolio BELLEVUE, WA 650,859650.9k $16.8m $16.8m 2.30% First filing
43 Kingsview Wealth Management, LLC 0.22% of their portfolio GRANTS PASS, OR 642,577642.6k $15.2m $15.2m 0.22% Added +37.3k +37,257
44 Blueprint Investment Partners LLC 1.62% of their portfolio GREENSBORO, NC 640,498640.5k $15.1m $15.1m 1.62% Added +133.0k +132,956
45 Blueprint Financial Advisors LLC 2.31% of their portfolio GREENSBOTO, NC 640,276640.3k $15.1m $15.1m 2.31% Added +132.7k +132,734
46 Rathbones Group PLC 0.03% of their portfolio Liverpool, X0 638,866638.9k $15.1m $15.1m 0.03% Added +255.4k +255,419
47 Brookstone Capital Management 0.17% of their portfolio WHEATON, IL 616,156616.2k $14.6m $14.6m 0.17% Added +124.6k +124,606
48 MONEY CONCEPTS CAPITAL CORP 0.82% of their portfolio PALM BEACH GARDENS, FL 615,009615.0k $14.5m $14.5m 0.82% Reduced -2.4k -2,400
49 SCOTIA CAPITAL INC. 0.06% of their portfolio TORONTO, A6 577,865577.9k $13.7m $13.7m 0.06% Added +504.7k +504,747
50 EVERGREEN CAPITAL MANAGEMENT LLC 0.31% of their portfolio Bellevue, WA 576,898576.9k $13.6m $13.6m 0.31% Reduced -159.7k -159,721
51 PenderFund Capital Management Ltd. 2.11% of their portfolio VANCOUVER, A1 565,000565.0k $13.4m $13.4m 2.11% Reduced -100.0k -100,000
52 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 545,258545.3k $12.9m $12.9m 0.02% Added +31.7k +31,735
53 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 544,237544.2k $12.9m $12.9m 0.01% Reduced -297.5k -297,510
54 LEAVELL INVESTMENT MANAGEMENT, INC. 0.52% of their portfolio MOBILE, AL 524,804524.8k $12.4m $12.4m 0.52% Added +302.3k +302,338
55 Accordant Advisory Group Inc 8.50% of their portfolio ANNAPOLIS, MD 520,930520.9k $12.3m $12.3m 8.50% Reduced -22.5k -22,541
56 CENTRAL TRUST Co 0.24% of their portfolio JEFFERSON CITY, MO 518,481518.5k $12.3m $12.3m 0.24% Reduced -79.8k -79,780
57 Kera Capital Partners, Inc. 1.66% of their portfolio SACRAMENTO, CA 509,964510.0k $13.5m $13.5m 1.66% Added +80.7k +80,707
58 Advisory Services Network, LLC 0.16% of their portfolio ATLANTA, GA 481,659481.7k $11.4m $11.4m 0.16% Reduced -37.4k -37,413
59 Hurley Capital, LLC 6.19% of their portfolio NEW YORK, NY 467,137467.1k $11.0m $11.0m 6.19% Added +5.1k +5,106
60 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 464,536464.5k $11.0m $11.0m 0.00% Reduced -12.3k -12,335
61 Pacific Sage Partners, LLC 1.73% of their portfolio EDMONDS, WA 461,148461.1k $10.9m $10.9m 1.73% Reduced -2.1k -2,110
62 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.72% of their portfolio ORLANDO, FL 441,767441.8k $10.4m $10.4m 0.72% Added +208.0k +207,976
63 Fielder Capital Group LLC 2.21% of their portfolio NASHVILLE, TN 439,379439.4k $10.4m $10.4m 2.21% Reduced -70.2k -70,211
64 Abacus Planning Group, Inc. 1.37% of their portfolio COLUMBIA, SC 435,540435.5k $10.3m $10.3m 1.37% Unchanged
65 Nokomis Capital, L.L.C. 2.76% of their portfolio DALLAS, TX 419,082419.1k $9.9m $9.9m 2.76% Reduced -112.0k -112,039
66 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 407,778407.8k $9.6m $9.6m 0.01% Added +122.3k +122,334
67 Cannell & Spears LLC 0.18% of their portfolio NEW YORK, NY 405,400405.4k $9.6m $9.6m 0.18% Added +12.0k +12,000
68 Pasadena Private Wealth, LLC 1.30% of their portfolio PASADENA, CA 402,928402.9k $9.5m $9.5m 1.30% Reduced -142.0k -142,039
69 Entruity Wealth, LLC 6.79% of their portfolio BAKERSFIELD, CA 402,708402.7k $9.5m $9.5m 6.79% Reduced -59.6k -59,644
70 Forest Hill Capital, LLC 4.69% of their portfolio LITTLE ROCK, AR 388,000388.0k $9.2m $9.2m 4.69% New
71 Apella Capital, LLC 0.18% of their portfolio WEST HARTFORD, CT 377,553377.6k $8.9m $8.9m 0.18% Reduced -4.3k -4,318
72 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 371,531371.5k $8.8m $8.8m 0.00% Reduced -196.5k -196,516
73 Private Advisor Group, LLC 0.04% of their portfolio MORRISTOWN, NJ 367,193367.2k $8.7m $8.7m 0.04% Added +29.4k +29,380
74 Pine Valley Investments Ltd Liability Co 0.43% of their portfolio MARLTON, NJ 365,063365.1k $8.6m $8.6m 0.43% Reduced -10.4k -10,446
75 Manatuck Hill Partners, LLC 2.98% of their portfolio WESTPORT, CT 360,200360.2k $8.5m $8.5m 2.98% Reduced -14.8k -14,800
76 Wealthcare Advisory Partners LLC 0.16% of their portfolio WEST CHESTER, PA 352,808352.8k $8.3m $8.3m 0.16% Added +49.8k +49,793
77 Kovack Advisors, Inc. 0.39% of their portfolio FT. LAUDERDALE, FL 346,609346.6k $8.2m $8.2m 0.39% Added +4.1k +4,084
78 WADDELL & ASSOCIATES, LLC 0.54% of their portfolio MEMPHIS, TN 335,445335.4k $7.9m $7.9m 0.54% Reduced -18.9k -18,940
79 Belpointe Asset Management LLC 0.27% of their portfolio RENO, NV 321,774321.8k $7.6m $7.6m 0.27% Reduced -81.8k -81,803
80 PARSONS CAPITAL MANAGEMENT INC/RI 0.42% of their portfolio PROVIDENCE, RI 320,618320.6k $7.6m $7.6m 0.42% Added +810 +810
81 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 313,051313.1k $7.4m $7.4m 0.01% Reduced -1.3m -1,310,525
82 TD Waterhouse Canada Inc. 0.05% of their portfolio TORONTO, A6 311,286311.3k $7.4m $7.4m 0.05% Added +113.1k +113,087
83 Euro Pacific Asset Management, LLC 0.75% of their portfolio DORADO, PR 307,137307.1k $6.8m $6.8m 0.75% Added +19.5k +19,478
84 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 307,084307.1k $7.2m $7.2m 0.01% Added +63.6k +63,626
85 Bleakley Financial Group, LLC 0.12% of their portfolio PARSIPPANY, NJ 292,457292.5k $6.9m $6.9m 0.12% Reduced -5.1k -5,077
86 Proactive Wealth Strategies LLC 2.68% of their portfolio MARIETTA, GA 285,771285.8k $6.8m $6.8m 2.68% Added +26.7k +26,711
87 J.W. COLE ADVISORS, INC. 0.15% of their portfolio TAMPA, FL 276,698276.7k $6.3m $6.3m 0.15% Added +139.7k +139,747
88 INSIGNEO ADVISORY SERVICES, LLC 0.47% of their portfolio MIAMI, FL 274,117274.1k $6.5m $6.5m 0.47% Added +106.3k +106,293
89 ABBINGTON INVESTMENT GROUP 4.39% of their portfolio WESTPORT, CT 271,872271.9k $6.4m $6.4m 4.39% Added +5.2k +5,236
90 SeaCrest Wealth Management, LLC 0.70% of their portfolio PURCHASE, NY 267,691267.7k $7.0m $7.0m 0.70% Reduced -9.2k -9,240
91 New Harbor Financial Group, LLC 1.13% of their portfolio WORCESTER, MA 261,823261.8k $6.2m $6.2m 1.13% Added +61.8k +61,801
92 ArchPoint Investors 1.38% of their portfolio CORAL GABLES, FL 245,864245.9k $5.8m $5.8m 1.38% Unchanged
93 GREAT VALLEY ADVISOR GROUP, INC. 0.11% of their portfolio WILMINGTON, DE 243,784243.8k $5.8m $5.8m 0.11% Reduced -118 -118
94 IMC-Chicago, LLC 0.10% of their portfolio CHICAGO, IL 241,742241.7k $5.7m $5.7m 0.10% New
95 Regency Capital Management Inc.\DE 2.25% of their portfolio HONOLULU, HI 228,974229.0k $5.4m $5.4m 2.25% Reduced -4.8k -4,751
96 HOHIMER WEALTH MANAGEMENT, LLC 0.73% of their portfolio SEATTLE, WA 228,849228.8k $5.4m $5.4m 0.73% Reduced -1.6k -1,600
97 Alpha Advisors, LLC/VA 4.12% of their portfolio RICHMOND, VA 225,670225.7k $5.3m $5.3m 4.12% Added +13.0k +12,970
98 SMART Wealth LLC 1.61% of their portfolio Omaha, NE 223,782223.8k $5.3m $5.3m 1.61% Reduced -26.2k -26,203
99 NewEdge Wealth, LLC 0.06% of their portfolio STAMFORD, CT 222,831222.8k $5.3m $5.3m 0.06% Added +11.2k +11,166
100 HARBOUR INVESTMENTS, INC. 0.11% of their portfolio MADISON, WI 221,096221.1k $5.2m $5.2m 0.11% Added +35.9k +35,914