Sprott Inc.

What Sprott Inc. does

Sprott Inc. is a Toronto-headquartered, NYSE- and TSX-listed (ticker SII) global asset manager founded in 1981, specializing in precious metals and critical materials investment strategies. The firm operates a multi-segment platform comprising Exchange Listed Products (physical bullion trusts and thematic ETFs), Managed Equities (public equity funds including the Sprott Gold Equity Fund and Sprott Focus Trust), Private Strategies (resource lending through Sprott Natural Resource Investment Partners, streaming/royalty via Sprott Resource Streaming and Royalty Corp, and a physical commodities strategy), and Sprott Wealth Management. Assets under management reached $65.1 billion as of March 31, 2026, with offices in Toronto, New York, Connecticut, and California and a 101–250 employee headcount.

The company's core products include six physical commodity trusts (gold/PHYS, silver/PSLV with $10B+ NAV, gold & silver/CEF, platinum & palladium/SPPP, uranium/U.UN with $6.8B+ AUM as the world's largest physical uranium fund, and copper/COP.UN or SCOP) alongside 19 ETFs covering uranium miners (URNM, URNJ), copper miners (COPP, COPJ), lithium miners (LITP), nickel miners (NIKL), gold and silver miners (SGDM, SGDJ, SLVR, GBUG), rare earths ex-China (REXC, launched April 2026), critical materials (SETM), and actively managed metals/mining strategies (METL). Technical differentiation rests on a suite of proprietary indices co-developed with Nasdaq — including the Nasdaq Sprott Energy Transition Materials Index, Lithium Miners Index, Nickel Miners Index, Junior Copper/Uranium Miners Indices, and Rare Earths Ex-China Index — providing rules-based exposure to niche commodity themes unavailable from generalist ETF providers. Sprott Physical Uranium Trust holds physical U3O8 at the CNL Store in Canada, representing institutional-scale physical commodity custody infrastructure.

Sprott earns revenue through multiple streams: recurring management fees on AUM across ETF products (typically 0.50–0.65% expense ratios), physical trust management fees on net asset value, performance fee crystallization in managed equities (contributing to Q1 2026's 144% net income growth), and streaming/royalty income from mining counterparties such as Robex Resources, Northern Graphite, Americas Gold and Silver, and Hycroft Mining. Distribution occurs through exchange listings on NYSE Arca, TSX, and Nasdaq for retail access; direct institutional sales targeting pension funds, sovereign wealth funds, and family offices (including European roadshows with 36+ meetings per trip); the ALPS partnership for US ETF distribution; and HANetf for UCITS/non-US distribution. Q1 2026 net income of $29.2 million on quarterly revenue in the ~$60–80M range positions the firm for full-year revenue in the $250M–$500M band.

Name

Sprott Inc.

Legal name

Sprott Inc.

Website

https://sprott.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

101–250 employees

Short description

Sprott Inc. is a Toronto-headquartered global asset manager specializing in precious metals and critical materials investments, managing $65.1B AUM across physical commodity trusts, 19 thematic ETFs, managed equities, private streaming/royalty strategies, and wealth management for institutional, advisor, and retail investors.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Management Fees: Sprott earns management fees based on assets under management (AUM) across its ETF products, physical trusts, and managed equity strategies. Fee rates vary by product, with ETFs typically charging 0.50% expense ratios and physical trusts earning management fees on NAV.
2. Performance/Carried Interest: The company generates carried interest crystallization in private strategies and performance fee crystallization in managed equities when investment returns exceed specified benchmarks, contributing to Q1 2026's strong net income growth of 144%.
3. Streaming and Royalty Revenue: Through Sprott Resource Streaming and Royalty Corp and Sprott Natural Resource Investment Partners, the company provides financing to mining companies in exchange for commodity delivery commitments or revenue royalties, generating recurring streaming income.
4. ATM Equity Program Proceeds: Sprott Physical Copper Trust and Physical Silver Trust utilize at-the-market equity programs to issue new units, with proceeds used to acquire additional physical commodities, expanding AUM and associated fee revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Sprott Inc. is a global asset manager that operates physical commodity trusts holding allocated bullion (gold, silver, platinum/palladium, uranium, copper), thematic ETFs tracking proprietary mining indices, actively managed equity funds, private resource lending and streaming/royalty strategies, and a wealth management advisory. The firm manages $65.1 billion in AUM as of March 2026 and operates the world's largest physical uranium trust and physical silver trust.

Product overview

Sprott Inc. is a global asset manager specializing in precious metals and critical materials investments, operating a multi-segment platform comprising Exchange Listed Products (physical bullion trusts and ETFs), Managed Equities (public equity funds and closed-end funds), Private Strategies (resource lending, streaming/royalty, and physical commodities), and Wealth Management services. The company offers 19 distinct ETF products covering uranium, copper, gold, silver, lithium, nickel, rare earths, and critical materials mining equities, alongside 4 physical commodity trusts holding physical gold, silver, platinum/palladium, uranium, and copper bullion. The product architecture integrates physical metal exposure (through closed-end trusts) with mining equity exposure (through ETFs), providing investors with comprehensive coverage of the precious metals and critical materials supply chain from physical holdings to miner equities.

Differentiator

Problem solved

Functional benefit

Brands

• Sprott ETFs: Exchange-traded funds covering precious metals, critical materials, and mining sectors including SETM, URNM, URNJ, COPP, COPJ, REXC, LITP, NIKL, GBUG, SGDM, SGDJ, SLVR, and METL
• Sprott Physical Trusts
• Sprott Wealth Management
• Sprott Precious Metals Report
• Sprott Uranium Watch
• Metals in Motion
• Sprott Radio Podcast

Products and services

• Sprott Physical Gold Trust (PHYS) Exchange-listed closed-end trust holding allocated physical gold bullion stored at the Royal Canadian Mint, providing investors with direct gold price exposure without physical delivery complexities.
• Sprott Physical Silver Trust (PSLV) Exchange-listed closed-end trust holding allocated physical silver bullion, providing liquid exposure to silver for institutional and retail investors; the world's largest physical silver trust by NAV.
• Sprott Physical Gold & Silver Trust (CEF) Closed-end bullion fund holding both physical gold and silver, providing balanced exposure to both precious metals.
• Sprott Physical Platinum & Palladium Trust (SPPP) Physical platinum and palladium bullion trust holding physical bullion matching these metals, providing exposure to the platinum group metals market.
• Sprott Physical Uranium Trust (U.UN) World's largest physical uranium fund by AUM, holding physical uranium oxide (U3O8) with secure storage at the CNL Store in Canada, providing institutional investors with direct exposure to uranium prices.
• Sprott Physical Copper Trust (COP.UN/SCOP) World's first physical copper investment fund; restructured to trade on NYSE Arca under symbol SCOP in May 2026, enabling investors to gain exposure to physical copper amid demand from electrification, AI, and data centers.
• Sprott Critical Materials ETF (SETM) ETF providing diversified exposure to upstream critical minerals companies involved in uranium, lithium, copper, rare earths, nickel, and other strategic materials for energy transition; tracks the Nasdaq Sprott Energy Transition Materials Index and charges a 0.65% expense ratio.
• Sprott Uranium Miners ETF (URNM) ETF tracking the North Shore Global Uranium Mining Index, providing exposure to uranium miners and physical uranium with approximately 18% exposure to physical uranium vehicles.
• Sprott Junior Uranium Miners ETF (URNJ) ETF providing concentrated exposure to mid-, small- and micro-cap uranium mining companies, excluding the largest producers Kazatomprom and Cameco and physical uranium exposure.
• Sprott Copper Miners ETF (COPP) Pure-play copper miner ETF tracking large-, mid-, and small-cap copper miners with a 5% physical copper allocation, focused on companies involved in copper exploration, development, and production.
• Sprott Junior Copper Miners ETF (COPJ) Only junior copper miner ETF tracking small copper miners globally, providing exposure to early-stage copper mining companies with amplified copper price sensitivity.
• Sprott Rare Earths Ex-China ETF (REXC) First U.S.-traded ETF providing pure-play exposure to rare earth companies outside China; tracks the Nasdaq Sprott Rare Earths Ex-China Index with 34 positions allocating approximately 50% to Australian stocks, 36% to U.S., and 8% to Canada.
• Sprott Lithium Miners ETF (LITP) ETF supporting the clean energy transition by tracking global lithium industry companies involved in lithium mining and production.
• Sprott Nickel Miners ETF (NIKL) ETF tracking global nickel-related companies, providing exposure to the nickel mining sector for clean energy transition applications.
• Sprott Active Gold & Silver Miners ETF (GBUG) Actively managed ETF providing exposure to gold and silver miners, trading at a forward EV/EBITDA of 6.2x compared to historical average of 8.8x.
• Sprott Gold Miners ETF (SGDM) ETF investing in approximately 40 North American gold mining companies, offering indirect gold exposure through mining equities with operational leverage to gold prices; 0.50% expense ratio.
• Sprott Junior Gold Miners ETF (SGDJ) ETF providing exposure to junior gold mining companies with heightened sensitivity to gold prices.
• Sprott Silver Miners & Physical Silver ETF (SLVR) ETF combining exposure to silver miners and physical silver, holding $630 million in assets under management with significant currency sensitivity and 80% ex-US exposure; 0.65% expense ratio.
• Sprott Active Metals & Miners ETF (METL) Actively managed ETF offering broad exposure to metals and mining companies including miners, recyclers, and royalty and streaming companies, using a value-oriented contrarian investment approach.
• Sprott Gold Equity Fund (SGDLX) Actively managed public equity fund providing access to gold mining equities within the managed equities segment.
• Sprott Focus Trust (FUND) Closed-end fund investing primarily in small- and mid-cap stocks with significant foreign equity exposure, offering a high yield and trading at a discount to NAV.
• Sprott Natural Resource Investment Partners Private resource lending strategy within Sprott's Private Strategies segment, providing debt financing to natural resource companies.
• Sprott Resource Streaming and Royalty Corp. Private streaming and royalty strategy providing capital to mining companies in exchange for future metal deliveries or royalty payments, generating recurring streaming income.
• Sprott Physical Commodities Strategy Private strategy focusing on physical commodities investments within the natural resources sector.
• Sprott Wealth Management Full-service registered investment advisor with global expertise in natural resources investing, offering managed accounts and resource exploration private placement funds.

Quantifiable outcome

• Sprott Physical Uranium Trust grew from $630 million (July 2021) to $6.8+ billion, a 10x increase
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Cantor Fitzgerald, Virtu, BMO Capital, Canaccord GenuitycoreChannel Partner/ Reseller/ Distributor · 4 May 2026These financial institutions serve as agents for Sprott Physical Copper Trust's at-the-market equity distribution program, enabling issuance of up to $500 million of units on both NYSE Arca and TSX. The banks facilitate capital markets access and distribution to institutional and retail investors.
• Lynas Rare Earths Ltd.coreStrategic or Co-development Partner · 14 April 2026Lynas Rare Earths Ltd. is the largest holding in the Sprott Rare Earths Ex-China ETF (REXC) at approximately 22.85% weight. As the only major ex-China rare earth producer, Lynas provides the ETF with exposure to established rare earth mining and processing capabilities outside Chinese supply chains.
• MP Materials Corp.coreStrategic or Co-development Partner · 14 April 2026MP Materials is the second-largest holding in the Sprott Rare Earths Ex-China ETF at approximately 19% weight. The Pentagon holds a 15% equity stake in MP Materials with a price floor, and the U.S. government provided $400 million in preferred stock purchase, signaling strategic importance to Western rare earth supply chains.
• ALPS DistributorscoreChannel Partner/ Reseller/ Distributor · 14 April 2026Sprott partners with ALPS in offering Sprott ETFs, with ALPS providing distribution, marketing support, and shareholder services for the ETF product suite including fact sheets, prospectuses, and performance information.
• NasdaqcoreTechnology or Integration · 10 September 2025Sprott co-developed proprietary indices with Nasdaq including the Nasdaq Sprott Energy Transition Materials Index, Nasdaq Sprott Lithium Miners Index, Nasdaq Sprott Nickel Miners Index, Nasdaq Sprott Junior Copper Miners Index, and Nasdaq Sprott Junior Uranium Miners Index. Nasdaq licenses these indices for ETF tracking.
• HANetf LimitedminorChannel Partner/ Reseller/ DistributorSprott partners with HANetf for non-US Funds UCITS distribution, enabling eligible investors outside the United States to access certain Sprott products through HANetf's distribution platform.
• Glass Lewis & Co.minorImplementation/ SI/ Consulting PartnerSprott utilizes Glass Lewis for proxy voting services, leveraging their global governance solutions and corporate governance expertise for research and voting recommendations on portfolio company holdings.

Scale indicators8 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Franco-Nevada Corporation: Toronto-listed precious metals royalty and streaming company with gold-focused fund exposure. Comparable to Sprott's Sprott Resource Streaming and Royalty Corp business and overall precious metals investment focus, though Franco-Nevada is royalty-only (no asset management AUM).
• WisdomTree Investments: US-listed asset manager with commodity and currency ETF products. Ranked #1 in IBD's investment management industry group (vs Sprott #2). Most direct listed competitor in specialty commodity/thematic ETFs with overlapping investor base.
• Wheaton Precious Metals: Canada-listed precious metals streaming company providing upfront financing to miners in exchange for future metal deliveries. Directly comparable to Sprott Resource Streaming and Royalty Corp's streaming business model.
• Royal Gold: US-listed precious metals royalty and streaming company with diversified gold, silver, copper, and other metal streams. Comparable to Sprott's royalty/streaming private strategy segment with similar business model and commodity exposure.
• VanEck Associates Corporation: US-based asset manager specializing in gold miners (GDX, GDXJ), rare earths (REMX), and uranium (URA) ETFs. Most direct competitor to Sprott ETFs in mining equity thematic exposure with overlapping products and investor base.
• Osisko Gold Royalties: Canada-listed precious metals royalty and streaming company with gold/silver focus. Smaller scale than Franco-Nevada/Wheaton but directly comparable to Sprott's mining royalty/streaming private strategy segment.
• Sandstorm Gold Royalties: Canada-listed gold royalty and streaming company with diversified portfolio of streams and royalties. Directly comparable to Sprott Resource Streaming and Royalty Corp with similar mining finance business model, though pure royalty play without asset management operations.

Broad incumbents

• BlackRock: World's largest asset manager offering iShares commodity ETFs (GLD, SLV, IAU) that compete directly with Sprott's physical precious metals trusts. Significantly larger scale and broader product portfolio, but overlapping commodity investment exposure.
• Invesco: Global asset manager with commodity ETF offerings (DBB, DBP, USCI, GLD derivatives). Broader portfolio than Sprott but competes for the same institutional and retail commodity allocation mandates.
• abrdn (Aberdeen): Global asset manager with commodity and natural resource investment strategies. Broader portfolio but competes in commodity-focused mandates, particularly in European institutional markets where both have UCITS distribution presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/sprottgroup
• LinkedInlinkedin.com/company/sprott
• Xx.com/sprott

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sprott Inc.