iShares Gold Trust
IAU
1,589 hedge funds and large institutions have $25.5B invested in iShares Gold Trust in 2025 Q2 according to their latest regulatory filings, with 136 funds opening new positions, 502 increasing their positions, 623 reducing their positions, and 70 closing their positions.
94% more first-time investments, than exits
New positions opened: 136 | Existing positions closed: 70
6% more capital invested
Capital invested by funds: $24B → $25.5B (+$1.46B)
3% more funds holding
Funds holding: 1,544 → 1,589 (+45)
2.14% less ownership
Funds ownership: 56.35% → 54.21% (-2.1%)
9% less funds holding in top 10
Funds holding in top 10: 163 → 148 (-15)
19% less repeat investments, than reductions
Existing positions increased: 502 | Existing positions reduced: 623
46% less call options, than puts
Call options by funds: $291M | Put options by funds: $542M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citigroup
New York
|
+$282M |
| 2 |
JP Morgan Chase
New York
|
+$273M |
| 3 |
Prudential Financial
Newark,
New Jersey
|
+$207M |
| 4 |
PA
PFG Advisors
Phoenix,
Arizona
|
+$86.9M |
| 5 |
MCM
Mainstay Capital Management
Grand Blanc,
Michigan
|
+$81.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Empower Advisory Group
Greenwood Village,
Colorado
|
-$450M |
| 2 |
Envestnet Asset Management
Chicago,
Illinois
|
-$228M |
| 3 |
Sumitomo Mitsui Trust Group
Minato-Ku, Tokyo,
Japan
|
-$135M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
-$61.7M |
| 5 |
AllianceBernstein
Nashville,
Tennessee
|
-$44.4M |
IAU Hedge Fund Activity: Q2 2025 in Review
1,589 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares Gold Trust (IAU) for Q2 2025, worth a combined $25.5B — up 6.1% from $24B a quarter earlier.
Buyers outnumbered sellers: 136 funds opened new IAU positions and 70 closed out — a net gain of 66 holders — while 502 added to existing stakes and 623 trimmed.
The largest buyer was Citigroup, adding an estimated $282M. The largest seller was Empower Advisory Group, cutting an estimated $450M.
- 1,589 institutional investors held iShares Gold Trust (IAU) as of Q2 2025, up from 1,544 in Q1 2025.
- Funds reported $25.5B of iShares Gold Trust stock for Q2 2025, up 6.1% quarter-over-quarter.
- 136 funds opened new iShares Gold Trust positions in Q2 2025 and 70 closed out, a net change of +66 holders.
- The largest iShares Gold Trust buyer in Q2 2025 was Citigroup, an estimated $282M added.
- The largest iShares Gold Trust seller in Q2 2025 was Empower Advisory Group, an estimated $450M sold.
Based on aggregated 13F filings for Q2 2025.