Vault-13

SPROTT PHYSICAL PLAT PALLAD SPPP

UNIT · Closed-End Fund · CUSIP 85207Q104

57 institutional holders -10 vs Q2 2025
4,872,9324.9m shares reported held*
$66.1mreported value*
8 new 22 added 13 reduced 17 sold out net sold ≈ $8.5m (-604.7k 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 ≈ $13.56.

Trends to Q3 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: 67Q3 25: 5757Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 202557

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 23: 15 bought or addedQ4 23: 19 cut or sold outQ1 24: 13 bought or addedQ1 24: 16 cut or sold outQ1 24Q2 24: 17 bought or addedQ2 24: 11 cut or sold outQ3 24: 14 bought or addedQ3 24: 15 cut or sold outQ3 24Q4 24: 27 bought or addedQ4 24: 13 cut or sold outQ1 25: 24 bought or addedQ1 25: 17 cut or sold outQ1 25Q2 25: 35 bought or addedQ2 25: 16 cut or sold outQ3 25: 30 bought or addedQ3 25: 30 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20231519
Q1 20241316
Q2 20241711
Q3 20241415
Q4 20242713
Q1 20252417
Q2 20253516
Q3 20253030

Biggest buyers

RAYMOND JAMES FINANCIAL INC Added +362,243+362.2k
ROYAL BANK OF CANADA Added +327,256+327.3k
MORGAN STANLEY Added +223,423+223.4k
Pictet Asset Management Holding SA Added +97,074+97.1k
Nokomis Capital, L.L.C. Added +96,200+96.2k
Beacon Pointe Advisors, LLC New +78,715+78.7k
UBS Group AG Added +60,019+60.0k
Fielder Capital Group LLC Added +57,870+57.9k
HighTower Advisors, LLC Added +52,529+52.5k
OSAIC HOLDINGS, INC. Added +46,938+46.9k

Biggest sellers

Pale Fire Capital SE Sold out -1,172,523-1.2m
JANE STREET GROUP, LLC Sold out -485,172-485.2k
Financial Enhancement Group LLC Sold out -131,675-131.7k
WOLVERINE ASSET MANAGEMENT LLC Sold out -75,168-75.2k
IMC-Chicago, LLC Sold out -68,254-68.3k
SEAVIEW INVESTMENT MANAGERS LLC Sold out -68,167-68.2k
Sigma Planning Corp Sold out -48,420-48.4k
IHT Wealth Management, LLC Sold out -42,911-42.9k
BOOTHBAY FUND MANAGEMENT, LLC Sold out -41,562-41.6k
Private Advisor Group, LLC Reduced -23,327-23.3k

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 Q3 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 Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Fielder Capital Group LLC 2.49% of their portfolio NASHVILLE, TN 805,335805.3k $10.9m $10.9m 2.49% Added +57.9k +57,870
2 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 576,962577.0k $7.8m $7.8m 0.00% Added +327.3k +327,256
3 Nokomis Capital, L.L.C. 2.60% of their portfolio DALLAS, TX 541,123541.1k $7.3m $7.3m 2.60% Added +96.2k +96,200
4 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 512,553512.6k $7.0m $7.0m 0.00% Added +362.2k +362,243
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 368,262368.3k $5.0m $5.0m 0.00% Added +223.4k +223,423
6 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 332,502332.5k $4.5m $4.5m 0.00% Added +97.1k +97,074
7 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 164,200164.2k $2.2m $2.2m 0.01% Reduced -10.6k -10,550
8 SPROTT INC. 0.07% of their portfolio TORONTO, A6 142,067142.1k $1.9m $1.9m 0.07% Added +14.1k +14,100
9 OneDigital Investment Advisors LLC 0.02% of their portfolio OVERLAND PARK, KS 139,580139.6k $1.9m $1.9m 0.02% Reduced -2.9k -2,881
10 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 99,70999.7k $1.4m $1.4m 0.00% Added +10.2k +10,180
11 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 95,13995.1k $1.3m $1.3m 0.00% Added +52.5k +52,529
12 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 93,10293.1k $1.3m $1.3m 0.00% Added +33.3k +33,285
13 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 92,33492.3k $1.3m $1.3m 0.00% Added +15.8k +15,769
14 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 88,46588.5k $1.2m $1.2m 0.00% Added +46.9k +46,938
15 UBS Group AG 0.00% of their portfolio ZURICH, V8 82,88982.9k $1.1m $1.1m 0.00% Added +60.0k +60,019
16 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 80,77680.8k $1.1m $1.1m 0.01% Reduced -23.3k -23,327
17 Beacon Pointe Advisors, LLC 0.01% of their portfolio NEWPORT BEACH, CA 78,71578.7k $1.1m $1.1m 0.01% New
18 Stratos Wealth Partners, LTD. 0.01% of their portfolio BEACHWOOD, OH 76,39376.4k $1.0m $1.0m 0.01% Added +700 +700
19 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 64,62464.6k $873.7k $873.7k 0.00% Added +24.8k +24,820
20 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 40,17540.2k $545.6k $545.6k 0.00% Unchanged
21 HC Advisors, LLC 0.38% of their portfolio SANDY SPRINGS, GA 39,64839.6k $538.4k $538.4k 0.38% Added +951 +951
22 Synergy Asset Management, LLC 0.01% of their portfolio VANCOUVER, WA 32,89032.9k $385.8k $385.8k 0.01% Added +16.4k +16,445
23 Cannell & Spears LLC 0.01% of their portfolio NEW YORK, NY 30,00030.0k $407.4k $407.4k 0.01% Unchanged
24 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 26,64826.6k $361.9k $361.9k 0.00% Added +8.1k +8,099
25 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 25,00025.0k $339.5k $339.5k 0.00% Reduced -100 -100
26 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.00% of their portfolio New York, NY 23,00023.0k $312.3k $312.3k 0.00% Unchanged
27 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 22,05222.1k $298.7k $298.7k 0.00% Reduced -7.7k -7,689
28 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 21,22921.2k $288.0k $288.0k 0.00% Added +7.3k +7,330
29 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 20,63220.6k $280.2k $280.2k 0.00% New
30 Pettinga Financial Advisors LLC 0.05% of their portfolio EVANSVILLE, IN 19,57119.6k $265.8k $265.8k 0.05% Added +1.9k +1,850
31 Morling Financial Advisors, LLC 0.09% of their portfolio FREMONT, CA 19,00019.0k $258.0k $258.0k 0.09% New
32 TWO SIGMA SECURITIES, LLC 0.03% of their portfolio NEW YORK, NY 15,81815.8k $214.8k $214.8k 0.03% Reduced -262 -262
33 Ameritas Advisory Services, LLC 0.01% of their portfolio Lincoln, NE 15,74815.7k $213.9k $213.9k 0.01% Reduced -846 -846
34 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 14,75814.8k $200.0k $200.0k 0.00% Reduced -1.6k -1,620
35 Wealthcare Advisory Partners LLC 0.00% of their portfolio WEST CHESTER, PA 14,18214.2k $192.6k $192.6k 0.00% Added +2.2k +2,197
36 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 10,68310.7k $145.1k $145.1k 0.01% New
37 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 10,43110.4k $147.2k $147.2k 0.00% New
38 Main Street Group, LTD 0.03% of their portfolio GLEN ALLEN, VA 8,0848.1k $109.8k $109.8k 0.03% Unchanged
39 ISLAY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio Lubbock, TX 5,0005.0k $67.9k $67.9k 0.04% Unchanged
40 HOLLENCREST CAPITAL MANAGEMENT 0.00% of their portfolio NEWPORT BEACH, CA 3,1503.1k $42.8k $42.8k 0.00% Unchanged
41 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 3,0003.0k $40.7k $40.7k 0.00% Unchanged
42 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 2,8002.8k $38.0k $38.0k 0.00% New
43 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 2,4422.4k $33.2k $33.2k 0.00% Reduced -1.0k -1,048
44 Uniplan Investment Counsel, Inc. 0.00% of their portfolio MILWAUKEE, WI 2,1732.2k $29.5k $29.5k 0.00% Added +1.2k +1,232
45 Ancora Advisors LLC 0.00% of their portfolio Cleveland, OH 2,0002.0k $27.2k $27.2k 0.00% Unchanged
46 HHM Wealth Advisors, LLC 0.00% of their portfolio CHATTANOOGA, TN 1,7001.7k $23.1k $23.1k 0.00% Unchanged
47 Caldwell Trust Co 0.00% of their portfolio Venice, FL 1,6401.6k $22.3k $22.3k 0.00% Unchanged
48 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,2501.2k $17.0k $17.0k 0.00% Reduced -800 -800
49 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 1,0751.1k $14.6k $14.6k 0.00% Reduced -152 -152
50 Twin Lakes Capital Management, LLC 0.01% of their portfolio REDWOOD SHORES, CA 1,0001.0k $13.6k $13.6k 0.01% Unchanged
51 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 637637 $8.5k $8.5k 0.00% Reduced -369 -369
52 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 300300 $4.1k $4.1k 0.00% Unchanged
53 Parkside Financial Bank & Trust 0.00% of their portfolio SAINT LOUIS, MO 200200 $2.7k $2.7k 0.00% Unchanged
54 Creekmur Asset Management LLC 0.00% of their portfolio MORTON, IL 192192 $2.6k $2.6k 0.00% New
55 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 4545 $611 $611 0.00% New
56 Solstein Capital, LLC 0.00% of their portfolio Menlo Park, CA 3131 $421 $421 0.00% Unchanged
57 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1818 $244 $244 0.00% Reduced -30 -30