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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
BlackRock
201
BlackRock
New York
$87.2K +$5.21K +127 +7%
EPG
202
Estate Planners Group
Pennsylvania
$85.8K +$82.7K +2,017 New
TC
203
Truvestments Capital
Florida
$79.2K – – –
PNC Financial Services Group
204
PNC Financial Services Group
Pennsylvania
$77.9K +$9.43K +230 +14%
CFS
205
Compass Financial Services
Iowa
$69.6K – – –
SS
206
Sunbelt Securities
Texas
$66K – – –
CA
207
CoreCap Advisors
Michigan
$64.7K -$183K -4,474 -75%
LFG
208
Larson Financial Group
Missouri
$42.5K – – –
ACM
209
Anfield Capital Management
California
$40.4K – – –
GF
210
GGM Financials
Ohio
$24.8K +$23.9K +582 New
IAIM
211
International Assets Investment Management
Florida
$22.6K +$21.7K +530 New
CWM
212
Copia Wealth Management
Oregon
$9.79K +$9.43K +230 New
KB
213
Kimelman & Baird
New York
$9.57K – – –
AAP
214
Arax Advisory Partners
Colorado
$8.33K +$41 +1 +0.5%
BCMIO
215
Beacon Capital Management Inc (Ohio)
Ohio
$8.3K -$22.2K -542 -74%
CIBC Private Wealth Group
216
CIBC Private Wealth Group
Georgia
$6.81K +$5.53K +135 +540%
IRC
217
Investors Research Corp
Georgia
$6.47K – – –
MWA
218
Medallion Wealth Advisors
Connecticut
$6.42K – – –
GBT
219
Grove Bank & Trust
Florida
$6.25K – – –
GC
220
Gould Capital
Washington
$4.17K – – –
AWA
221
Acumen Wealth Advisors
Tennessee
$2.68K +$2.58K +63 New
JWA
222
JFS Wealth Advisors
Pennsylvania
$2.17K +$984 +24 +89%
TCM
223
Tradewinds Capital Management
Washington
$1.92K – – –
SFG
224
Strive Financial Group
Indiana
$1.75K +$1.68K +41 New
CFD
225
Creative Financial Designs
Indiana
$1.62K +$1.56K +38 New
6 7 8
9
10

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.