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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
SFG
1126
SevenBridge Financial Group
Pennsylvania
$1.9M -$155K -485 -9%
MWP
1127
Madison Wealth Partners
Wisconsin
$1.9M -$10.5K -33 -0.6%
HWA
1128
Heartwood Wealth Advisors
Virginia
$1.87M -$319 -1 -0%
SIA
1129
Soltis Investment Advisors
Utah
$1.87M -$42.7K -134 -2%
IP
1130
Investment Partners
Ohio
$1.87M -$40.8K -128 -2%
DWA
1131
Douglass Winthrop Advisors
New York
$1.87M – – –
RWM
1132
Ritholtz Wealth Management
New York
$1.87M -$214K -670 -11%
QWM
1133
Quadcap Wealth Management
Texas
$1.86M +$35.7K +112 +2%
NGA
1134
Naples Global Advisors
Florida
$1.85M – – –
HCA
1135
Harbour Capital Advisors
Virginia
$1.84M -$243K -761 -13%
FBFS
1136
First Business Financial Services
Wisconsin
$1.84M – – –
DIM
1137
Delta Investment Management
California
$1.84M – – –
LSIA
1138
LaSalle St. Investment Advisors
Illinois
$1.83M +$220K +690 +15%
MCC
1139
Money Concepts Capital
Florida
$1.82M +$596K +1,870 +57%
BWM
1140
Bosman Wealth Management
California
$1.82M +$94.3K +296 +6%
CA
1141
Crewe Advisors
Utah
$1.82M +$6.05K +19 +0.4%
TW
1142
Towerpoint Wealth
California
$1.8M +$53.2K +167 +3%
CAI
1143
Capital Advisors Inc
Oklahoma
$1.8M +$246K +773 +18%
LSA
1144
Lansing Street Advisors
Pennsylvania
$1.8M +$1.62M +5,069 New
SL
1145
Savior LLC
Massachusetts
$1.8M +$87K +273 +6%
CFP
1146
Cascade Financial Partners
California
$1.8M +$242K +760 +18%
GP
1147
Greenline Partners
New York
$1.79M – – –
WAM
1148
WealthTrust Asset Management
Florida
$1.79M -$67.9K -213 -4%
1832 Asset Management
1149
1832 Asset Management
Ontario, Canada
$1.79M – – –
CAM
1150
Chesapeake Asset Management
New York
$1.79M – – –
44 45
46
47 48

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.