Sandler Capital Management’s SPDR Gold Trust GLD Stock Holding History

Sandler Capital 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
2025 Q4	–	Sell	-7,700	Closed	-$2.74M	–	167
2025 Q3	$2.74M	Buy	+7,700	New	+$2.45M	0.8%	42
2021 Q1	–	Sell	-22,043	Closed	-$3.93M	–	110
2020 Q4	$3.93M	Buy	22,043 +700	+3%	+$123K	0.46%	62
2020 Q3	$3.78M	Sell	21,343 -61,157	-74%	-$11M	0.38%	65
2020 Q2	$13.8M	Buy	+82,500	New	+$13.3M	1.31%	28
2019 Q3	–	Sell	-288,972	Closed	-$38.5M	–	126
2019 Q2	$38.5M	Buy	288,972 +185,672	+180%	+$22.9M	2.57%	4
2019 Q1	$12.6M	Sell	103,300 -310,700	-75%	-$38.3M	0.98%	40
2018 Q4	$50.2M	Buy	+414,000	New	+$48.1M	4.25%	3
2013 Q3	–	Sell	-8,500	Closed	-$1.01M	–	185
2013 Q2	$1.01M	Buy	+8,500	New	+$1.16M	0.04%	157

Other funds holding GLD

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

LPL Financial San Diego, California $445B AUM 25.58% 1-Year Est. Return

Wells Fargo San Francisco, California $617B AUM 30.33% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

First Eagle Investment Management New York $60.8B AUM 26.63% 1-Year Est. Return

Raymond James Financial St Petersburg, Florida $369B AUM 28.27% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $672B AUM 33.48% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

Sandler Capital Management's GLD Position: Q4 2025 in Review

Sandler Capital Management sold out of SPDR Gold Trust (GLD) in Q4 2025, closing a stake of 7,700 shares — an estimated $2.74M sold.

Sandler Capital Management first reported a position in GLD in Q2 2013 and held it in 8 quarters. The position peaked at $50.2M in Q4 2018. 3,072 funds tracked by Wall St. Rank hold GLD as of Q4 2025.

Sandler Capital Management reported no remaining SPDR Gold Trust position as of Q4 2025 after selling out during the quarter.
Sandler Capital Management sold 7,700 SPDR Gold Trust shares in Q4 2025, an estimated $2.74M.
Sandler Capital Management first reported a position in SPDR Gold Trust in Q2 2013 and held it in 8 quarters.
Sandler Capital Management's SPDR Gold Trust position peaked at $50.2M in Q4 2018.
3,072 funds tracked by Wall St. Rank held SPDR Gold Trust as of Q4 2025.

Based on Sandler Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.