B2Gold
291 hedge funds and large institutions have $3.55B invested in B2Gold in 2025 Q4 according to their latest regulatory filings, with 66 funds opening new positions, 113 increasing their positions, 71 reducing their positions, and 55 closing their positions.
59% more repeat investments, than reductions
Existing positions increased: 113 | Existing positions reduced: 71
40% more funds holding in top 10
Funds holding in top 10: 5 → 7 (+2)
20% more first-time investments, than exits
New positions opened: 66 | Existing positions closed: 55
2.4% more ownership
Funds ownership: 56.41% → 58.8% (+2.4%)
1% more funds holding
Funds holding: 287 → 291 (+4)
4% less capital invested
Capital invested by funds: $3.7B → $3.55B (-$147M)
8% less call options, than puts
Call options by funds: $48.7M | Put options by funds: $52.9M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
D.E. Shaw & Co
New York
|
+$114M |
| 2 |
Millennium Management
New York
|
+$77.6M |
| 3 |
CM
Condire Management
Dallas,
Texas
|
+$52.5M |
| 4 |
Marshall Wace
London,
United Kingdom
|
+$36.6M |
| 5 |
Jane Street
New York
|
+$34.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$307M |
| 2 |
VanEck Associates
New York
|
-$54.2M |
| 3 |
PFCS
Pale Fire Capital SE
Prague,
Czech Republic
|
-$49.9M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$36.1M |
| 5 |
CGIC
Continental General Insurance Company
Austin,
Texas
|
-$29.5M |
BTG Hedge Fund Activity: Q4 2025 in Review
291 of the 8,264 institutional investors tracked by Wall St. Rank reported a position in B2Gold (BTG) for Q4 2025, worth a combined $3.55B — down 4% from $3.7B a quarter earlier.
Buyers outnumbered sellers: 66 funds opened new BTG positions and 55 closed out — a net gain of 11 holders — while 113 added to existing stakes and 71 trimmed.
The largest buyer was D.E. Shaw & Co, adding an estimated $114M. The largest seller was Fidelity Investments, cutting an estimated $307M.
- 291 institutional investors held B2Gold (BTG) as of Q4 2025, up from 287 in Q3 2025.
- Funds reported $3.55B of B2Gold stock for Q4 2025, down 4% quarter-over-quarter.
- 66 funds opened new B2Gold positions in Q4 2025 and 55 closed out, a net change of +11 holders.
- The largest B2Gold buyer in Q4 2025 was D.E. Shaw & Co, an estimated $114M added.
- The largest B2Gold seller in Q4 2025 was Fidelity Investments, an estimated $307M sold.
Based on aggregated 13F filings for Q4 2025.