Capula Management’s SPDR Gold Trust GLD Stock Holding History

Capula Management’s Portfolio GLD Stock Details GLD Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	–	Sell	-60,000	Closed	-$23.8M	–	1137
2025 Q4	$23.8M	Sell	60,000 -90,000	-60%	-$34.4M	0.12%	75
2025 Q3	$53.3M	Hold	150,000	–	–	0.27%	50
2025 Q2	$45.7M	Buy	150,000 +50,000	+50%	+$15.1M	0.42%	17
2025 Q1	$28.8M	Buy	+100,000	New	+$26.4M	0.16%	53
2024 Q2	–	Sell	-100,000	Closed	-$20.6M	–	522
2024 Q1	$20.6M	Buy	+100,000	New	+$19.2M	0.49%	21
2023 Q2	–	Sell	-100,000	Closed	-$18.3M	–	562
2023 Q1	$18.3M	Buy	+100,000	New	+$17.6M	0.22%	92
2022 Q1	–	Sell	-43,500	Closed	-$7.44M	–	290
2021 Q4	$7.44M	Buy	+43,500	New	+$7.3M	0.16%	75
2020 Q4	–	Sell	-250,000	Closed	-$44.3M	–	306
2020 Q3	$44.3M	Buy	250,000 +150,000	+150%	+$27M	5.64%	2
2020 Q2	$16.7M	Hold	100,000	–	–	0.59%	35
2020 Q1	$14.8M	Buy	+100,000	New	+$14.9M	0.53%	48
2019 Q2	–	Sell	-200,000	Closed	-$24.4M	–	104
2019 Q1	$24.4M	Buy	+200,000	New	+$24.6M	32.53%	1

Other funds holding GLD

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

LPL Financial San Diego, California $377B AUM 19.32% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

First Eagle Investment Management New York $59B AUM 32.99% 1-Year Est. Return

Raymond James Financial St Petersburg, Florida $324B AUM 22.36% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Capula Management's GLD Position: Q4 2025 in Review

Capula Management sold out of SPDR Gold Trust (GLD) in Q4 2025, closing a stake of 35,427 shares — an estimated $13.5M sold.

Capula Management first reported a position in GLD in Q1 2019 and held it in 10 quarters. The position peaked at $12.6M in Q3 2025. 3,061 funds tracked by Wall St. Rank hold GLD as of Q4 2025.

Capula Management reported no remaining SPDR Gold Trust position as of Q4 2025 after selling out during the quarter.
Capula Management sold 35,427 SPDR Gold Trust shares in Q4 2025, an estimated $13.5M.
Capula Management first reported a position in SPDR Gold Trust in Q1 2019 and held it in 10 quarters.
Capula Management's SPDR Gold Trust position peaked at $12.6M in Q3 2025.
3,061 funds tracked by Wall St. Rank held SPDR Gold Trust as of Q4 2025.

Based on Capula Management's 13F filing for Q4 2025, filed 13 Feb 2026.