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SPDR Gold Trust
GLD

2,761 hedge funds and large institutions have $48.6B invested in SPDR Gold Trust in 2025 Q3 according to their latest regulatory filings, with 246 funds opening new positions, 1,134 increasing their positions, 778 reducing their positions, and 91 closing their positions.

New
Increased
Maintained
Reduced
Closed

170% more first-time investments, than exits

New positions opened: 246 | Existing positions closed: 91

68% more call options, than puts

Call options by funds: $74.5B | Put options by funds: $44.4B

46% more repeat investments, than reductions

Existing positions increased: 1,134 | Existing positions reduced: 778

19% more capital invested

Capital invested by funds: $40.8B → $48.6B (+$7.8B)

8% more funds holding in top 10

Funds holding in top 10: 234 → 252 (+18)

4% more funds holding

Funds holding: 2,650 → 2,761 (+111)

2.64% less ownership

Funds ownership: 42.03% → 39.39% (-2.6%)

Holders
2,761
Holders Change
+111
Holders Change %
+4.19%
% of All Funds
36.23%
Holding in Top 10
252
Holding in Top 10 Change
+18
Holding in Top 10 Change %
+7.69%
% of All Funds
3.31%
New
246
Increased
1,134
Reduced
778
Closed
91
Calls
$74.5B
Puts
$44.4B
Net Calls
+$30.1B
Net Calls Change
+$14.2B

Top Buyers

Rank Fund Capital Flow
1
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$499M
2
JG
Jain Global
New York
+$422M
3
Bank of America
Bank of America
North Carolina
+$288M
4
Citigroup
Citigroup
New York
+$274M
5
Parallax Volatility Advisers
Parallax Volatility Advisers
California
+$175M

Top Sellers

Rank Fund Capital Flow
1
PCP
Proficio Capital Partners
Massachusetts
-$631M
2
Goldman Sachs
Goldman Sachs
New York
-$500M
3
BA
Bridgewater Associates
Connecticut
-$337M
4
JP Morgan Chase
JP Morgan Chase
New York
-$275M
5
VF
Virtu Financial
New York
-$266M
Name Holding Trade Value Shares
Change 		Change in
Stake
LWL
926
Leo Wealth LLC
Texas
$3.01M -$438K -1,376 -14%
HSA
927
HBK Sorce Advisory
Pennsylvania
$3.01M +$190K +596 +8%
MCM
928
McRae Capital Management
New Jersey
$3.01M – – –
NFG
929
Nadler Financial Group
Illinois
$2.99M +$15.9K +50 +0.6%
CP
930
Creekside Partners
California
$2.98M +$15.3K +48 +0.6%
MCI
931
MRP Capital Investments
Georgia
$2.98M -$821K -2,575 -21%
BA
932
Bluesphere Advisors
Pennsylvania
$2.98M -$1.54M -4,833 -37%
WG
933
Welch Group
Alabama
$2.97M +$135K +424 +5%
MCCP
934
Mission Creek Capital Partners
California
$2.96M – – –
CIA
935
Compass Ion Advisors
Pennsylvania
$2.96M +$956 +3 +0%
TCWM
936
Total Clarity Wealth Management
Illinois
$2.95M +$291K +914 +12%
GJIA
937
Glass Jacobson Investment Advisors
Maryland
$2.94M -$61.2K -192 -2%
PDM
938
Penn Davis McFarland
Texas
$2.93M – – –
HT
939
Headlands Technologies
Illinois
$2.91M +$2.61M +8,197 New
CHAM
940
Clear Harbor Asset Management
Connecticut
$2.91M +$6.37K +20 +0.2%
MFG
941
Magnus Financial Group
New York
$2.9M +$51.3K +161 +2%
EWA
942
Encompass Wealth Advisors
Oregon
$2.88M – – –
LWM
943
Liberty Wealth Management
California
$2.88M +$2.09M +6,570 +431%
EWM
944
Elevatus Welath Management
New York
$2.88M +$2.14M +6,729 +493%
LWCFA
945
Loring Wolcott & Coolidge Fiduciary Advisors
Massachusetts
$2.88M -$6.37K -20 -0.3%
BEAM
946
Baker Ellis Asset Management
Washington
$2.87M – – –
MSFS
947
Main Street Financial Solutions
Pennsylvania
$2.87M -$18.2K -57 -0.7%
PMIA
948
Patrick Mauro Investment Advisor
Illinois
$2.87M +$87.6K +275 +4%
Man Group
949
Man Group
United Kingdom
$2.86M +$2.56M +8,046 New
MMPW
950
Mitchell McLeod Pugh & Williams
Alabama
$2.86M +$475K +1,489 +23%
36 37
38
39 40

GLD Hedge Fund Activity: Q3 2025 in Review

2,761 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in SPDR Gold Trust (GLD) for Q3 2025, worth a combined $48.6B — up 19% from $40.8B a quarter earlier.

Buyers outnumbered sellers: 246 funds opened new GLD positions and 91 closed out — a net gain of 155 holders — while 1,134 added to existing stakes and 778 trimmed.

The largest buyer was Bank of Montreal, opening a new position worth an estimated $499M. The largest seller was Proficio Capital Partners, cutting an estimated $631M.

  • 2,761 institutional investors held SPDR Gold Trust (GLD) as of Q3 2025, up from 2,650 in Q2 2025.
  • Funds reported $48.6B of SPDR Gold Trust stock for Q3 2025, up 19% quarter-over-quarter.
  • 246 funds opened new SPDR Gold Trust positions in Q3 2025 and 91 closed out, a net change of +155 holders.
  • The largest SPDR Gold Trust buyer in Q3 2025 was Bank of Montreal, an estimated $499M added.
  • The largest SPDR Gold Trust seller in Q3 2025 was Proficio Capital Partners, an estimated $631M sold.

Based on aggregated 13F filings for Q3 2025.