Sprott Physical Gold Trust
US ˙ ARCA ˙ CA85207H1047

SecurityPHYS / Sprott Physical Gold Trust
InstitutionSusquehanna International Group, Llp
Latest Disclosed Ownership583,129 shares
Latest Disclosed Value $ 19,254,920
Susquehanna International Group, Llp reports 189.91% increase in ownership of PHYS / Sprott Physical Gold Trust

On February 17, 2026 - Susquehanna International Group, Llp filed a 13F-HR form disclosing ownership of 583,129 shares of Sprott Physical Gold Trust (US:PHYS) valued at $19,254,920 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 14, 2025 disclosing 201,138 shares of Sprott Physical Gold Trust. This represents a change in shares of 189.91% during the quarter. The current value of the position is $20,852,693 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)
2026-02-17 2025-12-31 13F SPROTT ASSET MANAGEMENT PHYSICAL GOLD TR 85207H104 583,129 381,991 189.91 19,255 223.22 0.0021
2025-11-14 2025-09-30 13F SPROTT ASSET MANAGEMENT PHYSICAL GOLD TR 85207H104 201,138 156,833 353.98 5,958 430.45 0.0007
2025-08-14 2025-06-30 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 44,305 44,305 1,123 0.0002
2025-05-14 2025-03-31 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 0 -74,995 -100.00 0 -100.00
2025-02-14 2024-12-31 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 74,995 74,995 1,510 0.0002
2024-05-07 2024-03-31 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 0 -194,919 -100.00 0 -100.00
2024-02-14 2023-12-31 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 194,919 -3,392,940 -94.57 3,105 -93.96 0.0006
2023-11-14 2023-09-30 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 3,587,859 3,547,859 8,869.65 51,378 8,520.47 0.0107
2023-08-11 2023-06-30 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 40,000 -53,344 -57.15 597 -58.70 0.0001
2023-05-16 2023-03-31 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 93,344 76,532 455.22 1,443 508.86 0.0003
2023-02-14 2022-12-31 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 16,812 -452 -2.62 237 7.24 0.0001
2022-11-14 2022-09-30 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 17,264 17,264 221 0.0001
2021-02-16 2020-12-31 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 0 -35,087 -100.00 0 -100.00
2020-11-16 2020-09-30 13F SPROTT PHYSICAL GOLD TR UNIT 85207H104 35,087 35,087 528 0.0001
2020-05-15 2020-03-31 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 0 -32,337 -100.00 0 -100.00
2020-02-14 2019-12-31 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 32,337 -127,226 -79.73 394 -79.11 0.0001
2019-11-14 2019-09-30 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 159,563 147,553 1,228.58 1,886 1,286.76 0.0006
2019-11-14 2019-06-30 13F/A-2 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 12,010 -28,402 -70.28 136 -67.77 0.0000
2019-08-16 2019-06-30 13F/A-1 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 12,010 0 136 0.0000
2019-08-14 2019-06-30 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 12,010 -28,402 136
2019-05-15 2019-03-31 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 40,412 1,427 3.66 422 4.98 0.0002
2019-02-14 2018-12-31 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 38,985 -252,364 -86.62 402 -85.55 0.0002
2018-11-14 2018-09-30 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 291,349 206,838 244.75 2,782 223.49 0.0009
2018-08-14 2018-06-30 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 84,511 50,032 145.11 860 131.81 0.0003
2018-05-15 2018-03-31 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 34,479 -13,440 -28.05 371 -26.82 0.0001
2018-02-14 2017-12-31 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 47,919 32,427 209.31 507 212.96 0.0002
2017-11-14 2017-09-30 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 15,492 -35,020 -69.33 162 -68.36 0.0001
2017-08-15 2017-06-30 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 50,512 50,512 512 0.0002
2015-08-14 2015-06-30 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 0 -35,947 -100.00 0 -100.00
2015-05-15 2015-03-31 13F SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 35,947 35,947 352 0.0002
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.