VanEck Gold Miners ETF
1,182 hedge funds and large institutions have $14.9B invested in VanEck Gold Miners ETF in 2026 Q1 according to their latest regulatory filings, with 149 funds opening new positions, 315 increasing their positions, 497 reducing their positions, and 104 closing their positions.
43% more first-time investments, than exits
New positions opened: 149 | Existing positions closed: 104
12% more capital invested
Capital invested by funds: $13.3B → $14.9B (+$1.58B)
2% more funds holding
Funds holding: 1,155 → 1,182 (+27)
0.78% more ownership
Funds ownership: 51.77% → 52.54% (+0.78%)
16% less funds holding in top 10
Funds holding in top 10: 68 → 57 (-11)
23% less call options, than puts
Call options by funds: $8.26B | Put options by funds: $10.7B
37% less repeat investments, than reductions
Existing positions increased: 315 | Existing positions reduced: 497
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$538M |
| 2 |
JP Morgan Chase
New York
|
+$408M |
| 3 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$311M |
| 4 |
National Bank of Canada
Montreal,
Quebec, Canada
|
+$197M |
| 5 |
Bank of Nova Scotia
Toronto,
Ontario, Canada
|
+$196M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
-$315M |
| 2 |
Jane Street
New York
|
-$265M |
| 3 |
Caisse de Depot et Placement du Quebec (CDPQ)
Montreal,
Quebec, Canada
|
-$219M |
| 4 |
Citadel Advisors
Miami,
Florida
|
-$192M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$144M |
GDX Hedge Fund Activity: Q1 2026 in Review
1,182 of the 8,173 institutional investors tracked by Wall St. Rank reported a position in VanEck Gold Miners ETF (GDX) for Q1 2026, worth a combined $14.9B — up 12% from $13.3B a quarter earlier.
Buyers outnumbered sellers: 149 funds opened new GDX positions and 104 closed out — a net gain of 45 holders — while 315 added to existing stakes and 497 trimmed.
The largest buyer was Goldman Sachs, adding an estimated $538M. The largest seller was Wells Fargo, cutting an estimated $315M.
- 1,182 institutional investors held VanEck Gold Miners ETF (GDX) as of Q1 2026, up from 1,155 in Q4 2025.
- Funds reported $14.9B of VanEck Gold Miners ETF stock for Q1 2026, up 12% quarter-over-quarter.
- 149 funds opened new VanEck Gold Miners ETF positions in Q1 2026 and 104 closed out, a net change of +45 holders.
- The largest VanEck Gold Miners ETF buyer in Q1 2026 was Goldman Sachs, an estimated $538M added.
- The largest VanEck Gold Miners ETF seller in Q1 2026 was Wells Fargo, an estimated $315M sold.
Based on aggregated 13F filings for Q1 2026.