Goldman Sachs Physical Gold ETF Shares
AAAU
227 hedge funds and large institutions have $818M 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.
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
18% more capital invested
Capital invested by funds: $695M → $818M (+$123M)
10% more funds holding
Funds holding: 207 → 227 (+20)
0% more funds holding in top 10
Funds holding in top 10: 10 → 10 (0)
1.39% less ownership
Funds ownership: 35.21% → 33.82% (-1.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JSC
J. Stern & Co
London,
United Kingdom
|
+$36.1M |
| 2 |
NIM
NEOS Investment Management
Westport,
Connecticut
|
+$31.8M |
| 3 |
CL
CLG LLC
Long Beach,
California
|
+$11.5M |
| 4 |
ETC
Exchange Traded Concepts
Oklahoma City,
Oklahoma
|
+$9.62M |
| 5 |
KAS
Kestra Advisory Services
Austin,
Texas
|
+$8.43M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
QC
Quadrature Capital
London,
United Kingdom
|
-$22.1M |
| 2 |
Osaic Holdings
Scottsdale,
Arizona
|
-$14.2M |
| 3 |
PCP
Proficio Capital Partners
Newton,
Massachusetts
|
-$9.41M |
| 4 |
MWM
Moulton Wealth Management
Spokane,
Washington
|
-$7.04M |
| 5 |
TF
Tandem Financial
Greenwood Village,
Colorado
|
-$6.22M |
AAAU Hedge Fund Activity: Q4 2025 in Review
227 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Goldman Sachs Physical Gold ETF Shares (AAAU) for Q4 2025, worth a combined $818M — up 18% 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 $818M of Goldman Sachs Physical Gold ETF Shares stock for Q4 2025, up 18% 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.