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VanEck Gold Miners ETF
GDX

938 hedge funds and large institutions have $7.19B invested in VanEck Gold Miners ETF in 2025 Q2 according to their latest regulatory filings, with 145 funds opening new positions, 253 increasing their positions, 376 reducing their positions, and 88 closing their positions.

New
Increased
Maintained
Reduced
Closed

65% more first-time investments, than exits

New positions opened: 145 | Existing positions closed: 88

7% more capital invested

Capital invested by funds: $6.74B → $7.19B (+$447M)

5% more funds holding

Funds holding: 890 → 938 (+48)

2% more funds holding in top 10

Funds holding in top 10: 45 → 46 (+1)

0.93% more ownership

Funds ownership: 45.19% → 46.12% (+0.93%)

31% less call options, than puts

Call options by funds: $4.71B | Put options by funds: $6.84B

33% less repeat investments, than reductions

Existing positions increased: 253 | Existing positions reduced: 376

Holders
938
Holders Change
+48
Holders Change %
+5.39%
% of All Funds
12.35%
Holding in Top 10
46
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+2.22%
% of All Funds
0.61%
New
145
Increased
253
Reduced
376
Closed
88
Calls
$4.71B
Puts
$6.84B
Net Calls
-$2.14B
Net Calls Change
-$1.13B

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$149M
2
SPC
Slate Path Capital
New York
+$117M
3
Rafferty Asset Management
Rafferty Asset Management
New York
+$74.6M
4
Two Sigma Investments
Two Sigma Investments
New York
+$72.9M
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$60.6M

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$137M
2
Morgan Stanley
Morgan Stanley
New York
-$133M
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$79.1M
4
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$74.6M
5
BBVA
Banco Bilbao Vizcaya Argentaria
Spain
-$61.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
GVAG
751
Great Valley Advisor Group
Delaware
$218K +$207K +4,178 New
WG
752
Welch Group
Alabama
$217K +$206K +4,159 New
SWM
753
SeaCrest Wealth Management
New York
$216K -$62.3K -1,255 -23%
OBWG
754
Onyx Bridge Wealth Group
New York
$215K +$205K +4,123 New
WFAG
755
Wescott Financial Advisory Group
Pennsylvania
$212K +$202K +4,077 New
BWM
756
BNC Wealth Management
Oregon
$212K +$202K +4,064 New
IAA
757
Ironsides Asset Advisors
North Carolina
$211K -$581K -11,700 -74%
MWM
758
Mission Wealth Management
California
$211K +$201K +4,055 New
HA
759
Helium Advisors
Washington
$210K -$84.4K -1,700 -30%
JEST
760
JTC Employer Solutions Trustee
Jersey
$210K – – –
VH
761
Visionary Horizons
Tennessee
$210K +$200K +4,030 New
AB
762
Atlas Brown
Kentucky
$208K +$199K +4,000 New
GCP
763
GSA Capital Partners
United Kingdom
$208K -$219K -4,407 -53%
WPW
764
Waldron Private Wealth
Pennsylvania
$206K +$197K +3,965 New
WEG
765
World Equity Group
Illinois
$205K +$195K +3,938 New
JIC
766
Joel Isaacson & Co
New York
$204K +$195K +3,922 New
PPFA
767
Provida Pension Fund Administrator
Chile
$203K – – –
HFS
768
Howard Financial Services
Texas
$203K -$112K -2,257 -37%
PPG
769
Peak Planning Group
Colorado
$202K +$193K +3,884 New
ARC
770
Advisor Resource Council
Texas
$202K +$192K +3,876 New
GWP
771
Gateway Wealth Partners
Wisconsin
$201K +$191K +3,854 New
PWM
772
Power Wealth Management
Georgia
$201K +$191K +3,853 New
HNB
773
Huntington National Bank
Ohio
$189K – – –
CT
774
Colonial Trust
South Carolina
$187K – – –
PFBT
775
Parkside Financial Bank & Trust
Missouri
$185K – – –
29 30
31
32 33

GDX Hedge Fund Activity: Q2 2025 in Review

938 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in VanEck Gold Miners ETF (GDX) for Q2 2025, worth a combined $7.19B — up 6.6% from $6.74B a quarter earlier.

Buyers outnumbered sellers: 145 funds opened new GDX positions and 88 closed out — a net gain of 57 holders — while 253 added to existing stakes and 376 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $149M. The largest seller was Bank of America, cutting an estimated $137M.

  • 938 institutional investors held VanEck Gold Miners ETF (GDX) as of Q2 2025, up from 890 in Q1 2025.
  • Funds reported $7.19B of VanEck Gold Miners ETF stock for Q2 2025, up 6.6% quarter-over-quarter.
  • 145 funds opened new VanEck Gold Miners ETF positions in Q2 2025 and 88 closed out, a net change of +57 holders.
  • The largest VanEck Gold Miners ETF buyer in Q2 2025 was JP Morgan Chase, an estimated $149M added.
  • The largest VanEck Gold Miners ETF seller in Q2 2025 was Bank of America, an estimated $137M sold.

Based on aggregated 13F filings for Q2 2025.