Sprott Physical Gold and Silver Trust
US ˙ ARCA ˙ CA85208R1010

SecurityCEF / Sprott Physical Gold and Silver Trust
InstitutionCheviot Value Management, LLC
Latest Disclosed Ownership573,842 shares
Latest Disclosed Value $ 27,383,740
Cheviot Value Management, LLC reports 8.38% decrease in ownership of CEF / Sprott Physical Gold and Silver Trust

On May 12, 2026 - Cheviot Value Management, LLC filed a 13F-HR form disclosing ownership of 573,842 shares of Sprott Physical Gold and Silver Trust (US:CEF) valued at $27,383,740 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 3, 2026 disclosing 626,340 shares of Sprott Physical Gold and Silver Trust. This represents a change in shares of -8.38% during the quarter. The current value of the position is $26,586,100 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-12 2026-03-31 13F SPROTT ASSET MANAGEMENT LP PHYSICAL GOLD AN CEF 85208R101 573,842 -52,498 -8.38 27,384 -26.04 2.7505
2026-02-03 2025-12-31 13F SPROTT ASSET MANAGEMENT LP PHYSICAL GOLD AN CEF 85208R101 626,340 -100,603 -13.84 37,023 39.42 3.6365
2025-10-31 2025-09-30 13F SPROTT ASSET MANAGEMENT LP PHYSICAL GOLD AN CEF 85208R101 726,943 -5,880 -0.80 26,555 15.22 2.8244
2025-08-13 2025-06-30 13F SPROTT ASSET MANAGEMENT LP PHYSICAL GOLD AN CEF 85208R101 732,823 -2,651 -0.36 23,047 7.36 2.6422
2025-05-09 2025-03-31 13F SPROTT PHYSICAL GOLD & SILVER TR UNIT CEF 85208R101 735,474 19,667 2.75 21,468 26.23 2.6404
2025-02-14 2024-12-31 13F Sprott Physical Gold & Silver COM 85208R101 715,807 14,226 2.03 17,008 -1.01 3.2519
2024-11-14 2024-09-30 13F Sprott Physical Gold & Silver COM 85208R101 701,581 -5,159 -0.73 17,182 10.25 3.2411
2024-08-14 2024-06-30 13F Sprott Physical Gold & Silver COM 85208R101 706,740 -3,130 -0.44 15,584 7.93 3.0439
2024-05-14 2024-03-31 13F Sprott Physical Gold & Silver COM 85208R101 709,870 8,959 1.28 14,439 6.01 3.1649
2024-02-14 2023-12-31 13F Sprott Physical Gold & Silver COM 85208R101 700,911 -15,585 -2.18 13,620 9.75 2.9324
2023-11-07 2023-09-30 13F Sprott Physical Gold & Silver COM 85208R101 716,496 95 0.01 12,410 -3.87 2.7468
2023-11-07 2023-06-30 13F Sprott Physical Gold & Silver COM 85208R101 716,401 17,209 2.46 12,910 -2.36 2.8117
2023-05-15 2023-03-31 13F Sprott Physical Gold & Silver COM 85208R101 699,192 4,288 0.62 13,222 4.56 3.1794
2023-02-13 2022-12-31 13F Sprott Physical Gold & Silver COM 85208R101 694,904 18,512 2.74 12,644 20.06 3.1109
2022-11-14 2022-09-30 13F Sprott Physical Gold & Silver COM 85208R101 676,392 244 0.04 10,531 -7.40 2.8776
2022-08-03 2022-06-30 13F Sprott Physical Gold & Silver COM 85208R101 676,148 53,116 8.53 11,373 -5.81 2.8374
2022-05-11 2022-03-31 13F Sprott Physical Gold & Silver COM 85208R101 623,032 -5,771 -0.92 12,074 8.24 2.5556
2022-02-14 2021-12-31 13F Sprott Physical Gold & Silver COM 85208R101 628,803 -43,698 -6.50 11,155 -3.17 2.6139
2021-11-12 2021-09-30 13F Sprott Physical Gold & Silver COM 85208R101 672,501 6,340 0.95 11,520 -7.43 2.9543
2021-08-16 2021-06-30 13F Sprott Physical Gold & Silver COM 85208R101 666,161 -30,980 -4.44 12,444 2.77 3.0552
2021-05-14 2021-03-31 13F Sprott Physical Gold & Silver COM 85208R101 697,141 -4,735 -0.67 12,109 -10.84 3.3654
2021-02-12 2020-12-31 13F Sprott Physical Gold & Silver COM 85208R101 701,876 -6,610 -0.93 13,581 4.52 4.0988
2020-11-12 2020-09-30 13F Sprott Physical Gold & Silver COM 85208R101 708,486 -17,772 -2.45 12,994 5.87 4.5073
2020-08-17 2020-06-30 13F Sprott Physical Gold & Silver COM 85208R101 726,258 -2,341 -0.32 12,274 15.23 4.7881
2020-05-13 2020-03-31 13F Sprott Physical Gold & Silver COM 85208R101 728,599 728,599 10,652 4.8562
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.