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SPDR Gold Trust
GLD

2,575 hedge funds and large institutions have $38.9B invested in SPDR Gold Trust in 2025 Q1 according to their latest regulatory filings, with 282 funds opening new positions, 1,002 increasing their positions, 786 reducing their positions, and 76 closing their positions.

New
Increased
Maintained
Reduced
Closed

271% more first-time investments, than exits

New positions opened: 282 | Existing positions closed: 76

39% more call options, than puts

Call options by funds: $38B | Put options by funds: $27.3B

37% more funds holding in top 10

Funds holding in top 10: 185 → 254 (+69)

27% more repeat investments, than reductions

Existing positions increased: 1,002 | Existing positions reduced: 786

14% more capital invested

Capital invested by funds: $34.2B → $38.9B (+$4.78B)

7% more funds holding

Funds holding: 2,416 → 2,575 (+159)

1.36% more ownership

Funds ownership: 40.38% → 41.74% (+1.4%)

Holders
2,575
Holders Change
+159
Holders Change %
+6.58%
% of All Funds
34.53%
Holding in Top 10
254
Holding in Top 10 Change
+69
Holding in Top 10 Change %
+37.3%
% of All Funds
3.41%
New
282
Increased
1,002
Reduced
786
Closed
76
Calls
$38B
Puts
$27.3B
Net Calls
+$10.7B
Net Calls Change
-$405M

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$534M
2
BlackRock
BlackRock
New York
+$407M
3
Morgan Stanley
Morgan Stanley
New York
+$378M
4
BA
Bridgewater Associates
Connecticut
+$293M
5
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$184M

Top Sellers

Rank Fund Capital Flow
1
Citigroup
Citigroup
New York
-$313M
2
Jane Street
Jane Street
New York
-$291M
3
Barclays
Barclays
United Kingdom
-$156M
4
CTC (Chicago Trading Company)
CTC (Chicago Trading Company)
Illinois
-$150M
5
Sumitomo Mitsui Trust Group
Sumitomo Mitsui Trust Group
Japan
-$51.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
CWM
826
Cornerstone Wealth Management
Missouri
$2.91M +$103K +388 +4%
BA
827
Bridgewater Advisors
New York
$2.91M -$199K -752 -7%
GCL
828
Gouws Capital LLC
North Carolina
$2.91M – – –
WCG
829
Weaver Consulting Group
California
$2.9M +$2.64K +10 +0.1%
PWP
830
Private Wealth Partners
California
$2.9M – – –
PTC
831
Private Trust Company
Ohio
$2.89M +$222K +838 +9%
SFG
832
Seamount Financial Group
Colorado
$2.89M +$16.9K +64 +0.6%
EWM
833
EPG Wealth Management
Georgia
$2.87M +$90.7K +343 +4%
MPPLM
834
Midwest Professional Planners Ltd (MPPL)
Wisconsin
$2.87M -$330K -1,247 -11%
FPW
835
Flagship Private Wealth
Massachusetts
$2.87M +$241K +911 +10%
PHAM
836
Palisades Hudson Asset Management
Florida
$2.87M -$171K -646 -6%
SIC
837
Samalin Investment Counsel
New York
$2.85M +$1.59M +6,000 +154%
FTC
838
Farmers Trust Company
Ohio
$2.84M -$28.8K -109 -1%
Fisher Asset Management
839
Fisher Asset Management
Washington
$2.84M +$1.36M +5,132 +109%
EAM
840
Empirical Asset Management
Massachusetts
$2.84M -$1.52M -5,754 -37%
CFS
841
Coordinated Financial Services
Colorado
$2.83M +$30.4K +115 +1%
PAA
842
Peregrine Asset Advisers
Oregon
$2.81M +$1.77M +6,700 +219%
UWM
843
USAdvisors Wealth Management
Minnesota
$2.8M +$362K +1,369 +16%
IIC
844
Integrated Investment Consultants
Michigan
$2.79M -$513K -1,940 -17%
SFC
845
Strategic Financial Concepts
Texas
$2.79M +$65.3K +247 +3%
CI Investments Inc
846
CI Investments Inc
Ontario, Canada
$2.78M – – –
TFS
847
Thoroughbred Financial Services
Tennessee
$2.77M +$135K +512 +6%
BP
848
BBR Partners
New York
$2.77M – – –
DWA
849
Dorsey Wright & Associates
California
$2.73M -$61.1K -231 -2%
FA
850
Flagstar Advisors
New York
$2.72M +$127K +480 +5%
32 33
34
35 36

GLD Hedge Fund Activity: Q1 2025 in Review

2,575 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in SPDR Gold Trust (GLD) for Q1 2025, worth a combined $38.9B — up 14% from $34.2B a quarter earlier.

Buyers outnumbered sellers: 282 funds opened new GLD positions and 76 closed out — a net gain of 206 holders — while 1,002 added to existing stakes and 786 trimmed.

The largest buyer was UBS Group, adding an estimated $534M. The largest seller was Citigroup, cutting an estimated $313M.

  • 2,575 institutional investors held SPDR Gold Trust (GLD) as of Q1 2025, up from 2,416 in Q4 2024.
  • Funds reported $38.9B of SPDR Gold Trust stock for Q1 2025, up 14% quarter-over-quarter.
  • 282 funds opened new SPDR Gold Trust positions in Q1 2025 and 76 closed out, a net change of +206 holders.
  • The largest SPDR Gold Trust buyer in Q1 2025 was UBS Group, an estimated $534M added.
  • The largest SPDR Gold Trust seller in Q1 2025 was Citigroup, an estimated $313M sold.

Based on aggregated 13F filings for Q1 2025.