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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
KJHP
2301
K.J. Harrison & Partners
Ontario, Canada
$303K – – –
CWM
2302
Consultiva Wealth Management
Puerto Rico
$302K – – –
HTWM
2303
Hartmann Taylor Wealth Management
Texas
$302K +$271K +850 New
FWM
2304
Focused Wealth Management
New York
$302K +$10.5K +33 +4%
HA
2305
Hanover Advisors
South Carolina
$302K – – –
CCA
2306
Cypress Capital Advisors
Tennessee
$301K – – –
HPBT
2307
Hickory Point Bank & Trust
Illinois
$300K – – –
FWP
2308
Forefront Wealth Partners
Texas
$300K +$269K +845 New
FSA
2309
Financial Security Advisor
Virginia
$300K -$52.9K -166 -16%
RFG
2310
RFP Financial Group
Georgia
$300K -$38.2K -120 -13%
SCM
2311
Spreng Capital Management
Ohio
$298K – – –
TAM
2312
TCP Asset Management
Ohio
$298K – – –
PMSA
2313
Patrick M. Sweeney & Associates
Illinois
$298K -$11.2K -35 -4%
RIA
2314
Realta Investment Advisors
Delaware
$297K +$41.4K +130 +18%
EA
2315
Everpar Advisors
Oklahoma
$296K +$38.9K +122 +17%
LSWP
2316
Liberty Square Wealth Partners
Pennsylvania
$295K – – –
DWM
2317
DKM Wealth Management
California
$294K – – –
AF
2318
Aegis Financial
Virginia
$294K – – –
KCPG
2319
Kavar Capital Partners Group
Kansas
$293K -$15.9K -50 -6%
GFP
2320
Guardian Financial Partners
California
$293K +$263K +825 New
HAM
2321
Harmony Asset Management
Arizona
$293K +$12.4K +39 +5%
WFS
2322
Weitzel Financial Services
Iowa
$291K – – –
ATS
2323
Ashton Thomas Securities
New York
$291K +$261K +818 New
MHFA
2324
Mission Hills Financial Advisory
California
$290K – – –
SA
2325
Sonoma Allocations
California
$290K +$233K +732 New
91 92
93
94 95

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.