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Goldman Sachs Physical Gold ETF Shares
AAAU

227 hedge funds and large institutions have $1.72B invested in Goldman Sachs Physical Gold ETF Shares in 2025 Q4 according to their latest regulatory filings, with 43 funds opening new positions, 84 increasing their positions, 60 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

148% more capital invested

Capital invested by funds: $695M → $1.72B (+$1.03B)

115% more first-time investments, than exits

New positions opened: 43 | Existing positions closed: 20

57% more call options, than puts

Call options by funds: $1.69M | Put options by funds: $1.08M

40% more repeat investments, than reductions

Existing positions increased: 84 | Existing positions reduced: 60

10% more funds holding

Funds holding: 207 → 227 (+20)

0% more funds holding in top 10

Funds holding in top 10: 10 → 10 (0)

1.35% less ownership

Funds ownership: 35.21% → 33.85% (-1.4%)

Holders
227
Holders Change
+20
Holders Change %
+9.66%
% of All Funds
2.76%
Holding in Top 10
10
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.12%
New
43
Increased
84
Reduced
60
Closed
20
Calls
$1.69M
Puts
$1.08M
Net Calls
+$612K
Net Calls Change
-$196K

Top Buyers

1
JSC
J. Stern & Co
United Kingdom
+$36.1M
2
NIM
NEOS Investment Management
Connecticut
+$31.8M
3
CL
CLG LLC
California
+$11.5M
4
ETC
Exchange Traded Concepts
Oklahoma
+$9.62M
5
KAS
Kestra Advisory Services
Texas
+$8.43M

Top Sellers

1
QC
Quadrature Capital
United Kingdom
-$22.1M
2
Osaic Holdings
Osaic Holdings
Arizona
-$14.2M
3
PCP
Proficio Capital Partners
Massachusetts
-$9.41M
4
MWM
Moulton Wealth Management
Washington
-$7.04M
5
TF
Tandem Financial
Colorado
-$6.22M
Name Holding Trade Value Shares
Change 		Change in
Stake
FFS
101
Founders Financial Securities
Maryland
$863K +$22.1K +539 +3%
KA
102
Kovack Advisors
Florida
$860K +$828K +20,208 New
GWM
103
GSB Wealth Management
Connecticut
$859K +$3.07K +75 +0.4%
SRA
104
Secured Retirement Advisors
Minnesota
$855K -$32.4K -791 -4%
TNA
105
True North Advisors
Texas
$852K – – –
IF
106
Intrua Financial
Texas
$842K +$169K +4,115 +26%
SW
107
Simplicity Wealth
New Jersey
$826K +$39.5K +965 +5%
SSWM
108
Strait & Sound Wealth Management
California
$789K +$21.8K +532 +3%
HNB
109
Hilltop National Bank
Wyoming
$765K – – –
AWM
110
AE Wealth Management
Kansas
$760K +$732K +17,871 New
MCCA
111
Mill Creek Capital Advisors
Pennsylvania
$759K – – –
JEST
112
JTC Employer Solutions Trustee
Jersey
$758K – – –
UBS Group
113
UBS Group
Switzerland
$757K +$729K +17,795 +889,750%
SH
114
SLT Holdings
Arizona
$730K +$61.7K +1,505 +10%
PFG
115
Prosperity Financial Group
California
$721K +$695K +16,948 New
Truist Financial
116
Truist Financial
North Carolina
$718K +$43.5K +1,062 +7%
SG
117
StoneX Group
New York
$709K -$126K -3,065 -16%
HGWM
118
Horst & Graben Wealth Management
Oregon
$696K -$738 -18 -0.1%
BIG
119
Brookwood Investment Group
Arizona
$693K +$276K +6,731 +70%
AF
120
Allworth Financial
California
$688K +$57.6K +1,406 +10%
CIA
121
Concurrent Investment Advisors
Florida
$682K +$102K +2,494 +18%
TYCC
122
Texas Yale Capital Corp
Florida
$681K – – –
MGIA
123
Moneta Group Investment Advisors
Missouri
$678K -$13.2K -323 -2%
BRWA
124
B. Riley Wealth Advisors
Florida
$651K +$627K +15,304 New
1CP
125
17 Capital Partners
Arizona
$579K +$558K +13,616 New
3 4
5
6 7

AAAU Hedge Fund Activity: Q4 2025 in Review

227 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Goldman Sachs Physical Gold ETF Shares (AAAU) for Q4 2025, worth a combined $1.72B — up 148% from $695M a quarter earlier.

Buyers outnumbered sellers: 43 funds opened new AAAU positions and 20 closed out — a net gain of 23 holders — while 84 added to existing stakes and 60 trimmed.

The largest buyer was J. Stern & Co, adding an estimated $36.1M. The largest seller was Quadrature Capital, exiting entirely with an estimated $22.1M sold.

  • 227 institutional investors held Goldman Sachs Physical Gold ETF Shares (AAAU) as of Q4 2025, up from 207 in Q3 2025.
  • Funds reported $1.72B of Goldman Sachs Physical Gold ETF Shares stock for Q4 2025, up 148% quarter-over-quarter.
  • 43 funds opened new Goldman Sachs Physical Gold ETF Shares positions in Q4 2025 and 20 closed out, a net change of +23 holders.
  • The largest Goldman Sachs Physical Gold ETF Shares buyer in Q4 2025 was J. Stern & Co, an estimated $36.1M added.
  • The largest Goldman Sachs Physical Gold ETF Shares seller in Q4 2025 was Quadrature Capital, an estimated $22.1M sold.

Based on aggregated 13F filings for Q4 2025.