Vault-13

SPROTT PHYSICAL PLAT PALLAD SPPP

UNIT · Closed-End Fund · CUSIP 85207Q104

67 institutional holders +11 vs Q1 2025
5,477,6695.5m shares reported held*
$64.5mreported value*
16 new 19 added 11 reduced 5 sold out net bought ≈ $36.3m (+3.1m 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 ≈ $11.78.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 47Q4 22: 50Q1 23: 53Q2 23: 47Q3 23: 47Q4 23: 49Q1 24: 43Q2 24: 46Q3 24: 47Q4 24: 57Q1 25: 56Q2 25: 6767Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202247
Q4 202250
Q1 202353
Q2 202347
Q3 202347
Q4 202349
Q1 202443
Q2 202446
Q3 202447
Q4 202457
Q1 202556
Q2 202567

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 15 bought or addedQ3 23: 17 cut or sold outQ4 23: 15 bought or addedQ4 23: 19 cut or sold outQ4 23Q1 24: 13 bought or addedQ1 24: 16 cut or sold outQ2 24: 17 bought or addedQ2 24: 11 cut or sold outQ2 24Q3 24: 14 bought or addedQ3 24: 15 cut or sold outQ4 24: 27 bought or addedQ4 24: 13 cut or sold outQ4 24Q1 25: 24 bought or addedQ1 25: 17 cut or sold outQ2 25: 35 bought or addedQ2 25: 16 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231517
Q4 20231519
Q1 20241316
Q2 20241711
Q3 20241415
Q4 20242713
Q1 20252417
Q2 20253516

Biggest buyers

Pale Fire Capital SE New +1,172,523+1.2m
Fielder Capital Group LLC Added +725,839+725.8k
JANE STREET GROUP, LLC New +485,172+485.2k
Pictet Asset Management Holding SA New +235,428+235.4k
Kestra Advisory Services, LLC New +174,750+174.8k
ROYAL BANK OF CANADA Added +128,817+128.8k
Stratos Wealth Partners, LTD. New +75,693+75.7k
WOLVERINE ASSET MANAGEMENT LLC New +75,168+75.2k
IMC-Chicago, LLC New +68,254+68.3k
MORGAN STANLEY Added +56,828+56.8k

Biggest sellers

Trek Financial, LLC Sold out -98,840-98.8k
STIFEL FINANCIAL CORP Reduced -81,180-81.2k
ENVESTNET ASSET MANAGEMENT INC Reduced -64,197-64.2k
Marex Group Ltd Sold out -42,287-42.3k
Federation des caisses Desjardins du Quebec Reduced -32,201-32.2k
CIBC WORLD MARKET INC. Sold out -16,774-16.8k
IHT Wealth Management, LLC Reduced -11,754-11.8k
Pettinga Financial Advisors LLC Reduced -3,829-3.8k
OSAIC HOLDINGS, INC. Reduced -3,801-3.8k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -2,343-2.3k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
RAYMOND JAMES & ASSOCIATES 13G · institution new · filed 2025-10-23 5.1% new 505.5k≈ $6.3m 2025-10-23

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 Pale Fire Capital SE 1.44% of their portfolio Prague, 2N 1,172,5231.2m $13.8m $13.8m 1.44% New
2 Fielder Capital Group LLC 2.34% of their portfolio NASHVILLE, TN 747,465747.5k $8.8m $8.8m 2.34% Added +725.8k +725,839
3 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 485,172485.2k $5.7m $5.7m 0.01% New
4 Nokomis Capital, L.L.C. 2.18% of their portfolio DALLAS, TX 444,923444.9k $5.2m $5.2m 2.18% Unchanged
5 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 249,706249.7k $2.9m $2.9m 0.00% Added +128.8k +128,817
6 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 235,428235.4k $2.8m $2.8m 0.00% New
7 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 174,750174.8k $2.0m $2.0m 0.01% New
8 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 150,310150.3k $1.8m $1.8m 0.00% Added +12.6k +12,564
9 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 144,839144.8k $1.7m $1.7m 0.00% Added +56.8k +56,828
10 OneDigital Investment Advisors LLC 0.02% of their portfolio OVERLAND PARK, KS 142,461142.5k $1.7m $1.7m 0.02% Added +764 +764
11 Financial Enhancement Group LLC 0.24% of their portfolio ANDERSON, IN 131,675131.7k $1.7m $1.7m 0.24% Added +15.6k +15,584
12 SPROTT INC. 0.08% of their portfolio TORONTO, A6 127,967128.0k $1.5m $1.5m 0.08% Added +13.2k +13,230
13 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 104,103104.1k $1.2m $1.2m 0.01% Added +15.2k +15,243
14 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 89,52989.5k $1.1m $1.1m 0.00% Reduced -81.2k -81,180
15 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 76,56576.6k $898.1k $898.1k 0.00% Reduced -64.2k -64,197
16 Stratos Wealth Partners, LTD. 0.01% of their portfolio BEACHWOOD, OH 75,69375.7k $887.9k $887.9k 0.01% New
17 WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio CHICAGO, IL 75,16875.2k $881.7k $881.7k 0.01% New
18 IMC-Chicago, LLC 0.02% of their portfolio CHICAGO, IL 68,25468.3k $800.6k $800.6k 0.02% New
19 SEAVIEW INVESTMENT MANAGERS LLC 0.17% of their portfolio MIAMI, FL 68,16768.2k $799.6k $799.6k 0.17% Added +1.0k +1,000
20 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 59,81759.8k $701.7k $701.7k 0.00% Added +7.2k +7,155
21 Sigma Planning Corp 0.02% of their portfolio ANN ARBOR, MI 48,42048.4k $568.0k $568.0k 0.02% Added +34.6k +34,650
22 IHT Wealth Management, LLC 0.01% of their portfolio Chicago, IL 42,91142.9k $503.3k $503.3k 0.01% Reduced -11.8k -11,754
23 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 42,61042.6k $499.8k $499.8k 0.00% Added +14.0k +14,026
24 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 41,56241.6k $487.5k $487.5k 0.01% Unchanged
25 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 41,52741.5k $487.1k $487.1k 0.00% Reduced -3.8k -3,801
26 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 40,17540.2k $471.3k $471.3k 0.00% Added +175 +175
27 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 39,80439.8k $635.7k $635.7k 0.00% New
28 HC Advisors, LLC 0.32% of their portfolio SANDY SPRINGS, GA 38,69738.7k $453.9k $453.9k 0.32% Added +1.4k +1,366
29 Cannell & Spears LLC 0.01% of their portfolio NEW YORK, NY 30,00030.0k $351.9k $351.9k 0.01% New
30 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 29,74129.7k $345.0k $345.0k 0.00% Reduced -32.2k -32,201
31 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 25,10025.1k $294.4k $294.4k 0.00% Unchanged
32 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.00% of their portfolio New York, NY 23,00023.0k $269.8k $269.8k 0.00% Unchanged
33 UBS Group AG 0.00% of their portfolio ZURICH, V8 22,87022.9k $268.3k $268.3k 0.00% New
34 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 18,54918.5k $217.6k $217.6k 0.00% Added +940 +940
35 Pettinga Financial Advisors LLC 0.05% of their portfolio EVANSVILLE, IN 17,72117.7k $207.9k $207.9k 0.05% Reduced -3.8k -3,829
36 Ameritas Advisory Services, LLC 0.01% of their portfolio Lincoln, NE 16,59416.6k $194.6k $194.6k 0.01% Added +1.0k +1,012
37 Synergy Asset Management, LLC 0.02% of their portfolio VANCOUVER, WA 16,44516.4k $192.9k $192.9k 0.02% New
38 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 16,37816.4k $192.0k $192.0k 0.00% Reduced -2.3k -2,343
39 TWO SIGMA SECURITIES, LLC 0.02% of their portfolio NEW YORK, NY 16,08016.1k $188.6k $188.6k 0.02% New
40 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 13,89913.9k $163.0k $163.0k 0.00% Added +1.5k +1,517
41 Wealthcare Advisory Partners LLC 0.00% of their portfolio WEST CHESTER, PA 11,98512.0k $140.6k $140.6k 0.00% Unchanged
42 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 11,81111.8k $138.5k $138.5k 0.00% New
43 Main Street Group, LTD 0.03% of their portfolio GLEN ALLEN, VA 8,0848.1k $94.8k $94.8k 0.03% Unchanged
44 ISLAY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio Lubbock, TX 5,0005.0k $58.6k $58.6k 0.04% Unchanged
45 BNP PARIBAS 0.00% of their portfolio NEW YORK, NY 5,0005.0k $58.6k $58.6k 0.00% Unchanged
46 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 3,4903.5k $40.9k $40.9k 0.00% Added +440 +440
47 HOLLENCREST CAPITAL MANAGEMENT 0.00% of their portfolio NEWPORT BEACH, CA 3,1503.1k $37.0k $37.0k 0.00% Unchanged
48 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 3,0003.0k $35.2k $35.2k 0.00% Unchanged
49 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 2,5452.5k $29.9k $29.9k 0.00% Unchanged
50 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,0502.0k $24.0k $24.0k 0.00% Reduced -200 -200
51 Ancora Advisors LLC 0.00% of their portfolio Cleveland, OH 2,0002.0k $23.5k $23.5k 0.00% Unchanged
52 Strategic Investment Solutions, Inc. /IL 0.01% of their portfolio ORLAND PARK, IL 1,8581.9k $21.8k $21.8k 0.01% Unchanged
53 AMERIFLEX GROUP, INC. 0.01% of their portfolio LAS VEGAS, NV 1,7401.7k $21.3k $21.3k 0.01% Unchanged
54 HHM Wealth Advisors, LLC 0.00% of their portfolio CHATTANOOGA, TN 1,7001.7k $19.9k $19.9k 0.00% New
55 Caldwell Trust Co 0.00% of their portfolio Venice, FL 1,6401.6k $19.2k $19.2k 0.00% Unchanged
56 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 1,2271.2k $14.5k $14.5k 0.00% Added +227 +227
57 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 1,0061.0k $11.8k $11.8k 0.00% Reduced -127 -127
58 Twin Lakes Capital Management, LLC 0.01% of their portfolio REDWOOD SHORES, CA 1,0001.0k $11.7k $11.7k 0.01% Unchanged
59 Uniplan Investment Counsel, Inc. 0.00% of their portfolio MILWAUKEE, WI 941941 $11.0k $11.0k 0.00% New
60 Kiker Wealth Management, LLC 0.00% of their portfolio JASPER, GA 550550 $6.5k $6.5k 0.00% Unchanged
61 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 440440 $5.2k $5.2k 0.00% New
62 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 300300 $3.5k $3.5k 0.00% Reduced -150 -150
63 Physician Wealth Advisors, Inc. 0.00% of their portfolio MIDVALE, UT 275275 $3.2k $3.2k 0.00% Unchanged
64 Parkside Financial Bank & Trust 0.00% of their portfolio SAINT LOUIS, MO 200200 $2.3k $2.3k 0.00% Unchanged
65 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4848 $563 $563 0.00% Reduced -30 -30
66 Solstein Capital, LLC 0.00% of their portfolio Menlo Park, CA 3131 $364 $364 0.00% Unchanged
67 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged