Sprott Physical Gold Trust

PHYS • ARCA

Sprott Physical Gold Trust is a publicly traded company on ARCA. As of Q3 2025, 537 institutional investors hold shares in this company, with total holdings valued at $3.5B. Polar Securities Inc. is the largest holder with a position valued at $282.9M.

Websitesprott.com

Overview

Overview of institutional ownership in PHYS as of Q3 2025

All Institutions

Institutions: 537
Value Held: $3.5B
Shares Held: 116.8M
Avg Position: $6.4M
Median Position: $919.8K

Hedge Funds

Hedge Funds: 11
Value Held: $355.0M
Shares Held: 12.0M
Avg Position: $32.3M
Median Position: $1.7M

Biggest Investors

Institutions with the largest positions in PHYS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Polar Securities Inc. Hedge Fund•Multi-Strategy	Richard Gregory Lemaich CEO	$282.9M 8.42% of portfolio	0.00% 9.6M shares	Q4 2022 Held for 2y 11m	$3.4B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$169.3M 0.01% of portfolio	0.00% 5.7M shares	Q4 2022 Held for 2y 11m	$1.65T
Federation des caisses Desjardins du Quebec Fund of Funds	Neil David Blundell CIO	$161.7M 0.64% of portfolio	0.00% 5.5M shares	Q1 2017 Held for 8y 8m	$25.4B
C CENTRAL TRUST & INVESTMENT CO Institution	-	$137.7M 2.88% of portfolio	0.00% 4.6M shares	Q4 2022 Held for 2y 11m	$4.8B
Evanson Asset Management, LLC RIA/Wealth	Steven Edward Evanson Managing Partner	$134.4M 8.29% of portfolio	0.00% 4.5M shares	Q4 2022 Held for 2y 11m	$1.6B
PEKIN SINGER STRAUSS ASSET MANAGEMENT /IL RIA/Wealth	Joshua Daniel Strauss CEO	$126.2M 12.79% of portfolio	0.00% 4.3M shares	Q4 2022 Held for 2y 11m	$986.9M
JUPITER ASSET MANAGEMENT LTD Long Only Manager	Matthew Charles Beesley CEO	$92.9M 0.80% of portfolio	0.00% 3.1M shares	Q4 2022 Held for 2y 11m	$11.6B
CAPTRUST FINANCIAL ADVISORS RIA/Wealth	James Fielding Miller CEO	$72.9M 0.15% of portfolio	0.00% 2.5M shares	Q4 2022 Held for 2y 11m	$48.9B
Bleakley Financial Group, LLC RIA/Wealth	Andy Mark Schwartz CEO	$70.2M 1.63% of portfolio	0.00% 2.4M shares	Q4 2022 Held for 2y 11m	$4.3B
S SPROTT INC. Institution	-	$67.1M 2.52% of portfolio	0.00% 2.3M shares	Q4 2022 Held for 2y 11m	$2.7B

Net Capital Flow

Institutional buying and selling activity for PHYS in Q3 2025

Traded: −$181.1M
Buyers: 246
Sellers: 142
Total Bought: +$276.3M
Total Sold: −$457.4M
Avg Position: $6.2M

Biggest Buyers

Institution	Net Bought	Current Position
JUPITER ASSET MANAGEMENT LTD Long Only Manager	+$26.5M +896.3K shares	$92.9M 3.1M shares
Beacon Pointe Advisors, LLC RIA/Wealth	+$25.5M +859.9K shares	$43.2M 1.5M shares
Cetera Investment Advisers RIA/Wealth	+$17.4M +587.7K shares	$52.9M 1.8M shares
HPM Partners LLC RIA/Wealth	+$12.7M +430.4K shares	$15.1M 508.3K shares
C CENTRAL TRUST & INVESTMENT CO Institution	+$11.5M +388.0K shares	$137.7M 4.6M shares
S SPROTT INC. Institution	+$9.6M +323.4K shares	$67.1M 2.3M shares
L LPL Financial LLC Institution	+$8.0M +269.6K shares	$57.2M 1.9M shares
W WIT Partners Advisory Pte. Ltd. Institution	+$8.0M +276.2K shares	$8.0M 276.2K shares
BARCLAYS PLC Institution	+$7.5M +-13.5K shares	$7.5M 252.8K shares
C Camden Capital, LLC RIA/Wealth	+$5.8M +196.6K shares	$5.8M 196.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
Polar Securities Inc. Hedge Fund•Multi-Strategy	−$185.3M −6.3M shares	$282.9M 9.6M shares
IMC-Chicago, LLC RIA/Wealth	−$91.7M −3.1M shares	$3.3M 110.0K shares
J JANE STREET GROUP, LLC Institution	−$38.5M −1.3M shares	$9.5M 319.5K shares
3EDGE Asset Management, LP Long Only Manager	−$17.2M −688.4K shares	Sold Off 0 shares
WEALTHCARE CAPITAL MANAGEMENT, INC. RIA/Wealth	−$13.5M −456.6K shares	$18.4M 621.3K shares
Kestra Advisory Services, LLC RIA/Wealth	−$12.8M −433.0K shares	$29.2M 985.2K shares
WINNOW WEALTH LLC RIA/Wealth	−$9.4M −371.4K shares	Sold Off 0 shares
Evanson Asset Management, LLC RIA/Wealth	−$9.0M −304.9K shares	$134.4M 4.5M shares
Private Advisor Group, LLC RIA/Wealth	−$6.9M −232.1K shares	$28.5M 960.8K shares
Toroso Investments, LLC ETF Provider	−$6.4M −217.2K shares	$19.3M 650.4K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PHYS in Q3 2025

New Positions: 45
New Value: $38.6M
Exited Positions: 22
Exited Value: $43.8M

New Positions

Institution	Position Value
W WIT Partners Advisory Pte. Ltd. Institution	$8.0M 276.2K shares
BARCLAYS PLC Institution	$7.5M 252.8K shares
Proactive Wealth Strategies LLC RIA/Wealth	$4.0M 134.5K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	$2.2M 73.2K shares
S SPIREPOINT PRIVATE CLIENT, LLC RIA/Wealth	$2.1M 71.8K shares
Wedmont Private Capital RIA/Wealth	$1.8M 59.8K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$1.7M 56.2K shares
REBALANCE, LLC RIA/Wealth	$1.5M 52.3K shares
Precision Wealth Strategies, LLC RIA/Wealth	$1.4M 46.6K shares
VestGen Advisors, LLC RIA/Wealth	$1.1M 35.7K shares

Exited Positions

Institution	Previous Position
3EDGE Asset Management, LP Long Only Manager	$17.2M 688.4K shares
WINNOW WEALTH LLC RIA/Wealth	$9.4M 371.4K shares
UBS Group AG Institution	$5.0M 198.6K shares
C CLAUDIA M.P. BATLLE, CRP LLC RIA/Wealth	$2.5M 97.9K shares
Financial Advocates Investment Management RIA/Wealth	$1.9M 73.2K shares
E ELEQUIN CAPITAL LP Hedge Fund•Multi-Strategy	$1.8M 71.5K shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.1M 44.3K shares
WHITTIER TRUST CO OF NEVADA INC RIA/Wealth	$1.1M 43.5K shares
WHITTIER TRUST CO RIA/Wealth	$924.0K 36.5K shares
Eqis Capital Management, Inc. RIA/Wealth	$887.8K 35.0K shares

Options Activity

Institutions with the largest Call and Put options positions in PHYS as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with PHYS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
F Forest Hill Capital, LLC Hedge Fund•Long/Short	Mark Allen Lee President	25.25% $42.9M	0.00% 1.4M shares	Q4 2022 Held for 2y 11m	$169.9M
Basepoint Wealth LLC RIA/Wealth	William Allen Wallace CIO	22.25% $31.4M	0.00% 1.1M shares	Q4 2021 Held for 3y 11m	$141.2M
WS Portfolio Advisory, LLC Long Only Manager	Warwick Dean Simons Managing Partner	16.91% $311.6K	0.00% 10.5K shares	Q1 2025 Held for 8 months	$1.8M
Capital Wealth Alliance, LLC RIA/Wealth	Robert D Wong Managing Partner	14.37% $28.9M	0.00% 976.5K shares	Q4 2022 Held for 2y 11m	$201.2M
PEKIN SINGER STRAUSS ASSET MANAGEMENT /IL RIA/Wealth	Joshua Daniel Strauss CEO	12.79% $126.2M	0.00% 4.3M shares	Q4 2022 Held for 2y 11m	$986.9M
M Meixler Investment Management, Ltd. RIA/Wealth	Michael Charles Meixler CCO	11.09% $18.1M	0.00% 610.7K shares	Q4 2022 Held for 2y 11m	$163.0M
Mountain Lake Investment Management LLC Hedge Fund•Value	Philip Charles Mittleman CEO	10.19% $13.7M	0.00% 462.1K shares	Q2 2024 Held for 1y 5m	$134.3M
C Concorde Financial Corp Institution	-	10.12% $18.3M	0.00% 616.7K shares	Q4 2022 Held for 2y 11m	$180.4M
M MATAURO, LLC RIA/Wealth	Matthew Evan Klein Founder	9.72% $61.1M	0.00% 2.1M shares	Q4 2024 Held for 11 months	$629.4M
O OBERNDORF WILLIAM E Institution	-	8.87% $6.6M	0.00% 222.2K shares	Q2 2025 Held for 5 months	$74.2M

Hedge Fund Spotlight

Discover hedge funds investing in PHYS

WOLVERINE ASSET MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerChristopher Lazarus Gust

Portfolio Value: $1.5B
Positions: 859
Last Reported: Q3 2025

Sector Allocation

Position in Sprott Physical Gold Trust

Market Value: $872.3K
Shares Held: 29.4K
Portfolio Weight: 0.06%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 BTSGU BrightSpring Health Services BTSGU	Medical - Healthcare Information Services Healthcare	$56.2M	3.82%
2 iShares Bitcoin Trust IBIT	ETF ETF	$36.0M	2.45%
3 AAM AA Mission Acquisition Corp. AAM	Unknown Unknown	$26.9M	1.83%

View full profile