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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
SA
1001
Sincerus Advisory
New York
$2.55M +$112K +352 +5%
GA
1002
GFS Advisors
Texas
$2.55M +$8.6K +27 +0.4%
PCM
1003
Price Capital Management
Louisiana
$2.54M +$2.28M +7,150 New
GS
1004
GWN Securities
Florida
$2.54M +$221K +695 +11%
HA
1005
Helium Advisors
Washington
$2.53M -$1.44M -4,520 -39%
AWM
1006
Aberdeen Wealth Management
Illinois
$2.53M – – –
WSCM
1007
Wellington Shields Capital Management
New York
$2.51M -$47.8K -150 -2%
PHIMC
1008
Private Harbour Investment Management & Counsel
Ohio
$2.51M -$66.9K -210 -3%
DOA
1009
D'Orazio & Associates
Virginia
$2.49M – – –
KIA
1010
KCM Investment Advisors
California
$2.48M +$223K +700 +11%
MA
1011
Modus Advisors
Minnesota
$2.48M -$26.4K -83 -1%
VNA
1012
Valley National Advisers
Pennsylvania
$2.48M +$60.9K +191 +3%
BMC
1013
Benin Management Corp
Connecticut
$2.47M +$95.6K +300 +5%
PPA
1014
Pacific Point Advisors
California
$2.47M +$200K +627 +10%
FMN
1015
Financial Management Network
California
$2.47M -$21.7K -68 -1%
LAIC
1016
Lederer & Associates Investment Counsel
California
$2.45M +$23.9K +75 +1%
SWM
1017
SpringVest Wealth Management
Texas
$2.45M +$189K +592 +9%
PIM
1018
Pullen Investment Management
Florida
$2.45M +$21.7K +68 +1%
CPW
1019
Cove Private Wealth
New York
$2.45M -$191K -600 -8%
TPBG
1020
Turning Point Benefit Group
Maryland
$2.44M +$266K +836 +14%
KA
1021
Kercheville Advisors
Texas
$2.44M -$7.97K -25 -0.4%
CWM
1022
CCG Wealth Management
California
$2.43M +$956K +3,000 +78%
EM
1023
Excalibur Management
Massachusetts
$2.43M -$17.5K -55 -0.8%
SWM
1024
Silverlake Wealth Management
Vermont
$2.43M – – –
MIA
1025
MMBG Investment Advisors
Florida
$2.42M +$803K +2,520 +59%
39 40
41
42 43

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.