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SPDR Gold Trust
GLD

811 hedge funds and large institutions have $11B invested in SPDR Gold Trust in 2014 Q1 according to their latest regulatory filings, with 94 funds opening new positions, 231 increasing their positions, 341 reducing their positions, and 67 closing their positions.

New
Increased
Maintained
Reduced
Closed

49% more call options, than puts

Call options by funds: $6.42B | Put options by funds: $4.3B

40% more first-time investments, than exits

New positions opened: 94 | Existing positions closed: 67

21% more funds holding in top 10

Funds holding in top 10: 70 → 85 (+15)

7% more capital invested

Capital invested by funds: $10.2B → $11B (+$741M)

2% more funds holding

Funds holding: 792 → 811 (+19)

1.28% more ownership

Funds ownership: 31.93% → 33.21% (+1.3%)

32% less repeat investments, than reductions

Existing positions increased: 231 | Existing positions reduced: 341

Holders
811
Holders Change
+19
Holders Change %
+2.4%
% of All Funds
23.43%
Holding in Top 10
85
Holding in Top 10 Change
+15
Holding in Top 10 Change %
+21.43%
% of All Funds
2.46%
New
94
Increased
231
Reduced
341
Closed
67
Calls
$6.42B
Puts
$4.3B
Net Calls
+$2.12B
Net Calls Change
-$1.82B

Top Buyers

Rank Fund Capital Flow
1
HA
Hamel Associates
New Jersey
+$386M
2
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
+$206M
3
ICP
Indus Capital Partners
New York
+$198M
4
SIM
Stelliam Investment Management
New York
+$103M
5
Morgan Stanley
Morgan Stanley
New York
+$103M

Top Sellers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$246M
2
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$231M
3
CTC (Chicago Trading Company)
CTC (Chicago Trading Company)
Illinois
-$175M
4
Goldman Sachs
Goldman Sachs
New York
-$116M
5
Allianz Asset Management
Allianz Asset Management
Germany
-$101M
Name Holding Trade Value Shares
Change 		Change in
Stake
BG
26
BlackRock Group
United Kingdom
$94.7M +$13.4M +107,615 +16%
Northern Trust
27
Northern Trust
Illinois
$92.4M -$23.5M -188,179 -20%
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$90.3M -$3.87M -31,035 -4%
QIM
29
Quantitative Investment Management
Virginia
$86M +$86.7M +695,700 New
Barclays
30
Barclays
United Kingdom
$85.7M -$13.3M -106,792 -13%
O
31
OppenheimerFunds
New York
$81.8M +$20.5M +164,600 +33%
Adage Capital Partners
32
Adage Capital Partners
Massachusetts
$80.3M +$24.9M +200,000 +44%
MTB
33
Mizuho Trust & Banking
Japan
$78.9M +$8.55M +68,578 +12%
PNC Financial Services Group
34
PNC Financial Services Group
Pennsylvania
$77M -$3M -24,102 -4%
TODC
35
Trustees of Dartmouth College
New Hampshire
$72.9M – – –
FT
36
Fiduciary Trust
Massachusetts
$64.2M -$3.67M -29,467 -5%
Millennium Management
37
Millennium Management
New York
$60.1M +$59.7M +478,989 +6,680%
SC
38
Saiers Capital
New York
$59.1M +$30.9M +247,734 +107%
Fidelity Investments
39
Fidelity Investments
Massachusetts
$57.1M -$17.1M -137,095 -23%
WM
40
WS Management
Florida
$57M – – –
Deutsche Bank
41
Deutsche Bank
Germany
$56.3M -$2.08M -16,714 -4%
SONJCPFE
42
State of New Jersey Common Pension Fund E
New Jersey
$54.4M – – –
Susquehanna International Group
43
Susquehanna International Group
Pennsylvania
$48.7M -$246M -1,976,281 -83%
USAA
44
United Services Automobile Association
Texas
$48.1M -$25.4M -203,429 -34%
TD Asset Management
45
TD Asset Management
Ontario, Canada
$47.4M -$1.41M -11,323 -3%
CCM
46
Cobalt Capital Management
New Jersey
$47.4M +$12.5M +100,000 +35%
FI
47
FCM Investments
Texas
$47.4M +$2.45M +19,630 +5%
US Bancorp
48
US Bancorp
Minnesota
$47.2M -$2.59M -20,808 -5%
VKH
49
Virtu KCG Holdings
New York
$43.6M +$27.3M +219,397 +165%
TTSTC
50
Texas Treasury Safekeeping Trust Company
Texas
$43.4M +$45.9K +368 +0.1%
1
2
3 4 5

GLD Hedge Fund Activity: Q1 2014 in Review

811 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in SPDR Gold Trust (GLD) for Q1 2014, worth a combined $11B — up 7.3% from $10.2B a quarter earlier.

Buyers outnumbered sellers: 94 funds opened new GLD positions and 67 closed out — a net gain of 27 holders — while 231 added to existing stakes and 341 trimmed.

The largest buyer was Hamel Associates, adding an estimated $386M. The largest seller was Susquehanna International Group, cutting an estimated $246M.

  • 811 institutional investors held SPDR Gold Trust (GLD) as of Q1 2014, up from 792 in Q4 2013.
  • Funds reported $11B of SPDR Gold Trust stock for Q1 2014, up 7.3% quarter-over-quarter.
  • 94 funds opened new SPDR Gold Trust positions in Q1 2014 and 67 closed out, a net change of +27 holders.
  • The largest SPDR Gold Trust buyer in Q1 2014 was Hamel Associates, an estimated $386M added.
  • The largest SPDR Gold Trust seller in Q1 2014 was Susquehanna International Group, an estimated $246M sold.

Based on aggregated 13F filings for Q1 2014.