iShares Gold Trust
1,928 hedge funds and large institutions have $35.6B invested in iShares Gold Trust in 2025 Q4 according to their latest regulatory filings, with 326 funds opening new positions, 654 increasing their positions, 651 reducing their positions, and 74 closing their positions.
341% more first-time investments, than exits
New positions opened: 326 | Existing positions closed: 74
40% more call options, than puts
Call options by funds: $590M | Put options by funds: $421M
13% more capital invested
Capital invested by funds: $31.5B → $35.6B (+$4.14B)
13% more funds holding
Funds holding: 1,706 → 1,928 (+222)
12% more funds holding in top 10
Funds holding in top 10: 165 → 185 (+20)
0% more repeat investments, than reductions
Existing positions increased: 654 | Existing positions reduced: 651
1.42% less ownership
Funds ownership: 53.53% → 52.1% (-1.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CIA
Concurrent Investment Advisors
Tampa,
Florida
|
+$157M |
| 2 |
Citigroup
New York
|
+$148M |
| 3 |
BlackRock
New York
|
+$117M |
| 4 |
Citadel Advisors
Miami,
Florida
|
+$93.1M |
| 5 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
+$79.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Prudential Financial
Newark,
New Jersey
|
-$251M |
| 2 |
Sumitomo Mitsui Trust Group
Minato-Ku, Tokyo,
Japan
|
-$187M |
| 3 |
MB
Mizuho Bank
Tokyo,
Japan
|
-$121M |
| 4 |
JP Morgan Chase
New York
|
-$103M |
| 5 |
D.E. Shaw & Co
New York
|
-$95.2M |
IAU Hedge Fund Activity: Q4 2025 in Review
1,928 institutional investors reported a position in iShares Gold Trust (IAU) for Q4 2025, worth a combined $35.6B — up 13% from $31.5B a quarter earlier.
Buyers outnumbered sellers: 326 funds opened new IAU positions and 74 closed out — a net gain of 252 holders — while 654 added to existing stakes and 651 trimmed.
The largest buyer was Concurrent Investment Advisors, adding an estimated $157M. The largest seller was Prudential Financial, exiting entirely with an estimated $251M sold.
- 1,928 institutional investors held iShares Gold Trust (IAU) as of Q4 2025, up from 1,706 in Q3 2025.
- Funds reported $35.6B of iShares Gold Trust stock for Q4 2025, up 13% quarter-over-quarter.
- 326 funds opened new iShares Gold Trust positions in Q4 2025 and 74 closed out, a net change of +252 holders.
- The largest iShares Gold Trust buyer in Q4 2025 was Concurrent Investment Advisors, an estimated $157M added.
- The largest iShares Gold Trust seller in Q4 2025 was Prudential Financial, an estimated $251M sold.
Based on aggregated 13F filings for Q4 2025.