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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
NFG
901
Nadler Financial Group
Illinois
$2.41M +$15.9K +60 +0.7%
CA
902
Calton & Associates
Florida
$2.41M +$602K +2,275 +37%
CIA
903
Compass Ion Advisors
Pennsylvania
$2.4M -$54.7K -207 -2%
FGG
904
Financial Guidance Group
Florida
$2.39M -$30.7K -116 -1%
HWP
905
Highline Wealth Partners
California
$2.39M -$48.9K -185 -2%
PDM
906
Penn Davis McFarland
Texas
$2.37M -$264 -1 -0%
CWA
907
Centennial Wealth Advisory
Michigan
$2.37M -$60.3K -228 -3%
BFA
908
Brendel Financial Advisors
New Hampshire
$2.37M -$102K -385 -4%
FL
909
FreeGulliver LLC
Louisiana
$2.37M – – –
BEAM
910
Baker Ellis Asset Management
Washington
$2.36M +$79.3K +300 +4%
RCM
911
Raleigh Capital Management
North Carolina
$2.36M -$803K -3,038 -27%
CP
912
Creekside Partners
California
$2.36M -$4.23K -16 -0.2%
ACM
913
AlphaStar Capital Management
North Carolina
$2.35M +$156K +590 +8%
BA
914
Bluesphere Advisors
Pennsylvania
$2.35M +$1.76M +6,649 +443%
NHC
915
Nicholas Hoffman & Company
Georgia
$2.34M -$5.82K -22 -0.3%
VWA
916
Visionary Wealth Advisors
Illinois
$2.34M +$1.07M +4,051 +100%
AWM
917
Austin Wealth Management
Texas
$2.32M -$2.64K -10 -0.1%
AWM
918
Accel Wealth Management
Iowa
$2.32M +$557K +2,105 +35%
NF
919
NavPoint Financial
Minnesota
$2.32M – – –
AP
920
Americana Partners
Texas
$2.31M -$1.32K -5 -0.1%
LWCFA
921
Loring Wolcott & Coolidge Fiduciary Advisors
Massachusetts
$2.31M – – –
GWM
922
GSB Wealth Management
Connecticut
$2.31M +$264 +1 +0%
DZ Bank
923
DZ Bank
Germany
$2.31M +$2.12M +8,007 New
PPG
924
Peak Planning Group
Colorado
$2.29M -$60K -227 -3%
CHAM
925
Clear Harbor Asset Management
Connecticut
$2.29M +$110K +416 +6%
35 36
37
38 39

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.