Centerra Gold
CGAU
187 hedge funds and large institutions have $1.95B invested in Centerra Gold in 2025 Q4 according to their latest regulatory filings, with 42 funds opening new positions, 58 increasing their positions, 68 reducing their positions, and 16 closing their positions.
278% more call options, than puts
Call options by funds: $9.24M | Put options by funds: $2.44M
163% more first-time investments, than exits
New positions opened: 42 | Existing positions closed: 16
32% more capital invested
Capital invested by funds: $1.48B → $1.95B (+$468M)
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
12% more funds holding
Funds holding: 167 → 187 (+20)
1.15% less ownership
Funds ownership: 68.11% → 66.96% (-1.2%)
15% less repeat investments, than reductions
Existing positions increased: 58 | Existing positions reduced: 68
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DSC
Donald Smith & Co
New York
|
+$31.7M |
| 2 |
Fidelity International
Hamilton,
Bermuda
|
+$31.3M |
| 3 |
MIM
Merewether Investment Management
Dallas,
Texas
|
+$28.2M |
| 4 |
HIM
Hillsdale Investment Management
Toronto,
Ontario, Canada
|
+$17M |
| 5 |
Mackenzie Financial
Toronto Ontario,
Ontario, Canada
|
+$13.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WCA
Waratah Capital Advisors
Toronto,
Ontario, Canada
|
-$40.7M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$40.5M |
| 3 |
RL
Ruffer LLP
London,
United Kingdom
|
-$33.2M |
| 4 |
Goldman Sachs
New York
|
-$23M |
| 5 |
PFCS
Pale Fire Capital SE
Prague,
Czech Republic
|
-$21.8M |
CGAU Hedge Fund Activity: Q4 2025 in Review
187 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in Centerra Gold (CGAU) for Q4 2025, worth a combined $1.95B — up 32% from $1.48B a quarter earlier.
Buyers outnumbered sellers: 42 funds opened new CGAU positions and 16 closed out — a net gain of 26 holders — while 58 added to existing stakes and 68 trimmed.
The largest buyer was Donald Smith & Co, adding an estimated $31.7M. The largest seller was Waratah Capital Advisors, cutting an estimated $40.7M.
- 187 institutional investors held Centerra Gold (CGAU) as of Q4 2025, up from 167 in Q3 2025.
- Funds reported $1.95B of Centerra Gold stock for Q4 2025, up 32% quarter-over-quarter.
- 42 funds opened new Centerra Gold positions in Q4 2025 and 16 closed out, a net change of +26 holders.
- The largest Centerra Gold buyer in Q4 2025 was Donald Smith & Co, an estimated $31.7M added.
- The largest Centerra Gold seller in Q4 2025 was Waratah Capital Advisors, an estimated $40.7M sold.
Based on aggregated 13F filings for Q4 2025.