iShares Gold Trust
IAU
1,544 hedge funds and large institutions have $24B invested in iShares Gold Trust in 2025 Q1 according to their latest regulatory filings, with 218 funds opening new positions, 634 increasing their positions, 403 reducing their positions, and 49 closing their positions.
345% more first-time investments, than exits
New positions opened: 218 | Existing positions closed: 49
57% more repeat investments, than reductions
Existing positions increased: 634 | Existing positions reduced: 403
29% more capital invested
Capital invested by funds: $18.6B → $24B (+$5.44B)
27% more funds holding in top 10
Funds holding in top 10: 128 → 163 (+35)
10% more funds holding
Funds holding: 1,410 → 1,544 (+134)
0.19% more ownership
Funds ownership: 56.16% → 56.35% (+0.19%)
56% less call options, than puts
Call options by funds: $198M | Put options by funds: $449M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
+$368M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$190M |
| 3 |
LPL Financial
San Diego,
California
|
+$138M |
| 4 |
EAM
Erste Asset Management
Vienna,
Austria
|
+$63M |
| 5 |
Charles Schwab
San Francisco,
California
|
+$49.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
-$123M |
| 2 |
PC
Packer & Co
Cottesloe,
Australia
|
-$66.8M |
| 3 |
AllianceBernstein
Nashville,
Tennessee
|
-$38M |
| 4 |
Corient Private Wealth
Miami,
Florida
|
-$37.8M |
| 5 |
Empower Advisory Group
Greenwood Village,
Colorado
|
-$32.3M |
IAU Hedge Fund Activity: Q1 2025 in Review
1,544 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in iShares Gold Trust (IAU) for Q1 2025, worth a combined $24B — up 29% from $18.6B a quarter earlier.
Buyers outnumbered sellers: 218 funds opened new IAU positions and 49 closed out — a net gain of 169 holders — while 634 added to existing stakes and 403 trimmed.
The largest buyer was Envestnet Asset Management, adding an estimated $368M. The largest seller was JP Morgan Chase, cutting an estimated $123M.
- 1,544 institutional investors held iShares Gold Trust (IAU) as of Q1 2025, up from 1,410 in Q4 2024.
- Funds reported $24B of iShares Gold Trust stock for Q1 2025, up 29% quarter-over-quarter.
- 218 funds opened new iShares Gold Trust positions in Q1 2025 and 49 closed out, a net change of +169 holders.
- The largest iShares Gold Trust buyer in Q1 2025 was Envestnet Asset Management, an estimated $368M added.
- The largest iShares Gold Trust seller in Q1 2025 was JP Morgan Chase, an estimated $123M sold.
Based on aggregated 13F filings for Q1 2025.