Vault-13

GLOBAL X FDS SIL

GLOBAL X SILVER · ETP · CUSIP 37954Y848

205 institutional holders +21 vs Q1 2025
10,790,72710.8m shares reported held*
$519.5mreported value*
39 new 65 added 53 reduced 17 sold out net bought ≈ $128.3m (+2.7m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $48.15. Options: 9 managers hold calls ($50.4m notional), 7 hold puts ($28.2m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 130Q4 22: 145Q1 23: 138Q2 23: 140Q3 23: 139Q4 23: 152Q1 24: 145Q2 24: 166Q3 24: 153Q4 24: 175Q1 25: 184Q2 25: 205205Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022130
Q4 2022145
Q1 2023138
Q2 2023140
Q3 2023139
Q4 2023152
Q1 2024145
Q2 2024166
Q3 2024153
Q4 2024175
Q1 2025184
Q2 2025205

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q3 23: 60 bought or addedQ3 23: 55 cut or sold outQ4 23: 66 bought or addedQ4 23: 61 cut or sold outQ4 23Q1 24: 59 bought or addedQ1 24: 68 cut or sold outQ2 24: 80 bought or addedQ2 24: 50 cut or sold outQ2 24Q3 24: 60 bought or addedQ3 24: 74 cut or sold outQ4 24: 91 bought or addedQ4 24: 47 cut or sold outQ4 24Q1 25: 107 bought or addedQ1 25: 65 cut or sold outQ2 25: 104 bought or addedQ2 25: 70 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20236055
Q4 20236661
Q1 20245968
Q2 20248050
Q3 20246074
Q4 20249147
Q1 202510765
Q2 202510470

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60m$80mQ3 24 calls: $45.0mQ3 24 puts: $67.4mQ3 24P/C 1.50Q4 24 calls: $32.9mQ4 24 puts: $25.3mQ4 24P/C 0.77Q1 25 calls: $53.4mQ1 25 puts: $33.1mQ1 25P/C 0.62Q2 25 calls: $50.4mQ2 25 puts: $28.2mQ2 25P/C 0.56
Numbers
QuarterCallsPutsP/C
Q3 2024$45.0m$67.4m1.50
Q4 2024$32.9m$25.3m0.77
Q1 2025$53.4m$33.1m0.62
Q2 2025$50.4m$28.2m0.56

Biggest buyers

TWO SIGMA INVESTMENTS, LP Added +871,300+871.3k
D. E. Shaw & Co., Inc. Added +595,329+595.3k
JANE STREET GROUP, LLC New +378,792+378.8k
ROYAL BANK OF CANADA Added +282,872+282.9k
MORGAN STANLEY Added +214,611+214.6k
Saudi Central Bank New +203,700+203.7k
AMERIPRISE FINANCIAL INC Added +128,104+128.1k
STIFEL FINANCIAL CORP Added +89,755+89.8k
Guardian Partners Inc. New +78,400+78.4k
SummitTX Capital, L.P. New +75,000+75.0k

Biggest sellers

Quadrature Capital Ltd Sold out -199,834-199.8k
UBS Group AG Reduced -136,258-136.3k
GOLDMAN SACHS GROUP INC Sold out -112,850-112.8k
PCG Wealth Advisors, LLC Reduced -97,681-97.7k
Capitolis Liquid Global Markets LLC Sold out -94,000-94.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -89,451-89.5k
CITADEL ADVISORS LLC Reduced -71,007-71.0k
WELLINGTON MANAGEMENT GROUP LLP Sold out -64,657-64.7k
Banco BTG Pactual S.A. Reduced -59,221-59.2k
Clark Capital Management Group, Inc. Reduced -47,888-47.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $32.7m678.5k shares
UBS Group AG Reduced $4.7m97.9k shares
CITADEL ADVISORS LLC Added $4.5m94.5k shares
JANE STREET GROUP, LLC Added $3.4m70.7k shares
Cubist Systematic Strategies, LLC Added $2.1m43.3k shares
Shay Capital LLC New $2.0m42.5k shares
WOLVERINE TRADING, LLC Reduced $839.9k17.9k shares
Walleye Trading LLC Reduced $105.9k2.2k shares
Belvedere Trading LLC Reduced $19.3k400 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $8.6m179.0k shares
JANE STREET GROUP, LLC Added $8.3m173.2k shares
CITADEL ADVISORS LLC Reduced $7.8m162.9k shares
Cubist Systematic Strategies, LLC New $2.3m47.0k shares
WOLVERINE TRADING, LLC Reduced $567.7k12.1k shares
Walleye Trading LLC New $356.2k7.4k shares
Belvedere Trading LLC Added $245.5k5.1k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,221,7601.2m $58.8m $58.8m 0.00% Added +214.6k +214,611
2 TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio NEW YORK, NY 903,600903.6k $43.5m $43.5m 0.08% Added +871.3k +871,300
3 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 723,885723.9k $34.8m $34.8m 0.01% Reduced -22.1k -22,051
4 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 650,237650.2k $31.3m $31.3m 0.03% Added +595.3k +595,329
5 MEITAV INVESTMENT HOUSE LTD 0.42% of their portfolio BENE-BERAQ, L3 650,000650.0k $31.3m $31.3m 0.42% Unchanged
6 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 492,956493.0k $23.7m $23.7m 0.00% Added +282.9k +282,872
7 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 378,792378.8k $18.2m $18.2m 0.03% New
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 367,242367.2k $17.7m $17.7m 0.00% Reduced -136.3k -136,258
9 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 317,173317.2k $15.3m $15.3m 0.00% Added +7.5k +7,453
10 PCG Wealth Advisors, LLC 7.81% of their portfolio OVERLAND PARK, KS 317,038317.0k $15.3m $15.3m 7.81% Reduced -97.7k -97,681
11 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 255,277255.3k $12.5m $12.5m 0.00% Added +128.1k +128,104
12 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 213,696213.7k $10.3m $10.3m 0.02% Added +24.2k +24,249
13 Saudi Central Bank 0.40% of their portfolio Riyadh, T0 203,700203.7k $9.8m $9.8m 0.40% New
14 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 181,281181.3k $8.7m $8.7m 0.01% Added +25.0k +24,967
15 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 170,802170.8k $8.2m $8.2m 0.01% Added +48.1k +48,107
16 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 165,604165.6k $8.0m $8.0m 0.01% Added +89.8k +89,755
17 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 152,246152.2k $7.3m $7.3m 0.01% Reduced -71.0k -71,007
18 GROUP ONE TRADING LLC 0.24% of their portfolio CHICAGO, IL 150,567150.6k $7.2m $7.2m 0.24% Added +34.1k +34,093
19 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 119,708119.7k $5.8m $5.8m 0.00% Reduced -4.8k -4,809
20 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 99,77099.8k $4.8m $4.8m 0.01% Added +47.7k +47,701
21 D.A. DAVIDSON & CO. 0.03% of their portfolio GREAT FALLS, MT 93,81593.8k $4.5m $4.5m 0.03% Added +57.6k +57,616
22 Clark Capital Management Group, Inc. 0.03% of their portfolio PHILADELPHIA, PA 88,26888.3k $4.2m $4.2m 0.03% Reduced -47.9k -47,888
23 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 82,48582.5k $3.8m $3.8m 0.01% Added +45.6k +45,631
24 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 82,03082.0k $3.9m $3.9m 0.00% Added +14.7k +14,676
25 Summit Financial, LLC 0.09% of their portfolio PARSIPPANY, NJ 80,55280.6k $3.9m $3.9m 0.09% Reduced -539 -539
26 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 80,33280.3k $3.9m $3.9m 0.00% Added +2.0k +2,039
27 SIMPLEX TRADING, LLC 0.10% of their portfolio CHICAGO, IL 78,91078.9k $3.8m $3.8m 0.10% Added +4.6k +4,628
28 Guardian Partners Inc. 0.34% of their portfolio TORONTO, Z4 78,40078.4k $3.8m $3.8m 0.34% New
29 SummitTX Capital, L.P. 0.16% of their portfolio FORT WORTH, TX 75,00075.0k $3.6m $3.6m 0.16% New
30 SPROTT INC. 0.18% of their portfolio TORONTO, A6 74,67174.7k $3.6m $3.6m 0.18% Reduced -2.9k -2,880
31 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 74,11474.1k $3.6m $3.6m 0.02% Reduced -7.1k -7,071
32 Federation des caisses Desjardins du Quebec 0.02% of their portfolio LEVIS, A8 73,34573.3k $3.5m $3.5m 0.02% Reduced -863 -863
33 Ballew Advisors, Inc 2.06% of their portfolio Jackson, MS 70,74170.7k $3.5m $3.5m 2.06% Reduced -5.2k -5,164
34 ONE PLUS ONE WEALTH MANAGEMENT, LLC 1.77% of their portfolio JUPITER, FL 67,35067.3k $3.2m $3.2m 1.77% Reduced -1.5k -1,456
35 SCOTIA CAPITAL INC. 0.02% of their portfolio TORONTO, A6 66,66266.7k $3.2m $3.2m 0.02% Added +50.8k +50,837
36 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 65,96066.0k $3.2m $3.2m 0.00% Added +64.5k +64,522
37 Moss Adams Wealth Advisors LLC 0.28% of their portfolio SEATTLE, WA 64,23964.2k $3.1m $3.1m 0.28% New
38 WYNNEFIELD CAPITAL INC 1.42% of their portfolio NEW YORK, NY 50,00050.0k $2.4m $2.4m 1.42% Unchanged
39 ELEVATION POINT WEALTH PARTNERS, LLC 0.19% of their portfolio DENVER, CO 49,31849.3k $2.4m $2.4m 0.19% Added +1.7k +1,686
40 QUATTRO FINANCIAL ADVISORS LLC 0.83% of their portfolio The Woodlands, TX 49,19549.2k $2.4m $2.4m 0.83% Unchanged
41 WOLVERINE TRADING, LLC 0.06% of their portfolio CHICAGO, IL 47,15747.2k $2.2m $2.2m 0.06% Added +33.7k +33,678
42 Pekin Hardy Strauss, Inc. 0.24% of their portfolio CHICAGO, IL 43,66343.7k $2.1m $2.1m 0.24% Reduced -336 -336
43 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 42,63342.6k $2.1m $2.1m 0.00% Added +19.8k +19,759
44 Vontobel Holding Ltd. 0.01% of their portfolio ZURICH, V8 42,10042.1k $2.0m $2.0m 0.01% Unchanged
45 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 40,21440.2k $1.9m $1.9m 0.01% New
46 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 39,56639.6k $1.9m $1.9m 0.00% Reduced -1.6k -1,628
47 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 38,38338.4k $1.8m $1.8m 0.00% Added +33.3k +33,326
48 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 36,70036.7k $1.8m $1.8m 0.00% New
49 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 34,55234.6k $1.7m $1.7m 0.00% Reduced -1.6k -1,646
50 OLD MISSION CAPITAL LLC 0.04% of their portfolio CHICAGO, IL 33,74533.7k $1.6m $1.6m 0.04% New
51 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 33,33033.3k $1.6m $1.6m 0.00% Added +5.1k +5,114
52 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 32,91032.9k $1.6m $1.6m 0.00% Reduced -700 -700
53 CAPITAL FUND MANAGEMENT S.A. 0.02% of their portfolio PARIS, I0 32,49832.5k $1.6m $1.6m 0.02% New
54 Ion Asset Management Ltd. 0.09% of their portfolio Herzliya, L3 30,80030.8k $1.5m $1.5m 0.09% Added +4.1k +4,100
55 EVOKE WEALTH, LLC 0.03% of their portfolio Los Angeles, CA 30,49630.5k $1.5m $1.5m 0.03% Added +6.0k +6,034
56 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 30,14630.1k $1.5m $1.5m 0.00% Added +5.4k +5,448
57 Prospera Financial Services Inc 0.03% of their portfolio Dallas, TX 29,42929.4k $1.4m $1.4m 0.03% New
58 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 28,99429.0k $1.4m $1.4m 0.01% Added +9.0k +8,954
59 Financial Sense Advisors, Inc. 0.32% of their portfolio SAN DIEGO, CA 27,51327.5k $1.3m $1.3m 0.32% Reduced -25.6k -25,567
60 Encompass More Asset Management 0.30% of their portfolio Danville, CA 26,94326.9k $1.3m $1.3m 0.30% New
61 Sender Co & Partners, Inc. 0.57% of their portfolio NEW YORK, NY 25,98926.0k $1.3m $1.3m 0.57% Added +8.6k +8,612
62 IHT Wealth Management, LLC 0.03% of their portfolio Chicago, IL 25,56325.6k $1.2m $1.2m 0.03% Added +835 +835
63 JUNCTURE WEALTH STRATEGIES, LLC 0.43% of their portfolio SCOTTSDALE, AZ 25,26625.3k $1.2m $1.2m 0.43% Added +1.3k +1,253
64 GeoSphere Capital Management, LLC 1.23% of their portfolio MIAMI BEACH, FL 25,00025.0k $1.2m $1.2m 1.23% New
65 Kovack Advisors, Inc. 0.12% of their portfolio FT. LAUDERDALE, FL 24,74124.7k $1.2m $1.2m 0.12% New
66 Beverly Hills Private Wealth, LLC 0.22% of their portfolio BEVERLY HILLS, CA 24,02024.0k $1.2m $1.2m 0.22% Added +7.2k +7,232
67 Geneos Wealth Management Inc. 0.03% of their portfolio ENGLEWOOD, CO 23,30523.3k $1.1m $1.1m 0.03% Reduced -24.5k -24,470
68 New Harbor Financial Group, LLC 0.24% of their portfolio WORCESTER, MA 21,48021.5k $1.0m $1.0m 0.24% Reduced -2.7k -2,731
69 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 21,40121.4k $1.0m $1.0m 0.00% Added +368 +368
70 SPC Financial, Inc. 0.08% of their portfolio ROCKVILLE, MD 20,37920.4k $981.0k $981.0k 0.08% Added +1.1k +1,111
71 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 20,32020.3k $978.2k $978.2k 0.02% New
72 Capula Management Ltd 0.01% of their portfolio Grand Cayman, E9 20,00020.0k $962.8k $962.8k 0.01% Reduced -34.5k -34,490
73 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 19,86719.9k $956.4k $956.4k 0.00% Added +236 +236
74 Y-Intercept (Hong Kong) Ltd 0.02% of their portfolio HONG KONG, K3 19,28919.3k $928.6k $928.6k 0.02% New
75 HOLLENCREST CAPITAL MANAGEMENT 0.04% of their portfolio NEWPORT BEACH, CA 18,59118.6k $895.0k $895.0k 0.04% Unchanged
76 Main Street Financial Solutions, LLC 0.06% of their portfolio NEWTOWN, PA 18,35018.4k $883.4k $883.4k 0.06% Reduced -450 -450
77 Banco BTG Pactual S.A. 0.18% of their portfolio RIO DE JANEIRO, D5 18,05918.1k $869.4k $869.4k 0.18% Reduced -59.2k -59,221
78 HARBOR INVESTMENT ADVISORY, LLC 0.07% of their portfolio LUTHERVILLE, MD 17,02717.0k $819.7k $819.7k 0.07% Reduced -56 -56
79 LEVEL FOUR ADVISORY SERVICES, LLC 0.03% of their portfolio DALLAS, TX 16,43316.4k $791.1k $791.1k 0.03% Reduced -157 -157
80 OneDigital Investment Advisors LLC 0.01% of their portfolio OVERLAND PARK, KS 15,81515.8k $761.3k $761.3k 0.01% Reduced -1.1k -1,062
81 Mariner, LLC 0.00% of their portfolio Overland Park, KS 13,98314.0k $673.1k $673.1k 0.00% Added +987 +987
82 Trek Financial, LLC 0.04% of their portfolio Scottsdale, AZ 13,60613.6k $655.0k $655.0k 0.04% Added +1.4k +1,432
83 Columbus Macro, LLC 0.07% of their portfolio NEW CASTLE, PA 12,45412.5k $599.5k $599.5k 0.07% Added +73 +73
84 Sigma Planning Corp 0.02% of their portfolio ANN ARBOR, MI 12,26212.3k $590.3k $590.3k 0.02% Reduced -1.2k -1,188
85 PFG Investments, LLC 0.03% of their portfolio WOODBURY, NY 11,37911.4k $547.8k $547.8k 0.03% Unchanged
86 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 11,06411.1k $533.0k $533.0k 0.00% Reduced -5.3k -5,321
87 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 10,99111.0k $529.1k $529.1k 0.01% Added +2.3k +2,254
88 Portfolio Strategies, Inc. 0.07% of their portfolio MONTVALE, NJ 10,81210.8k $520.5k $520.5k 0.07% Added +975 +975
89 Diametric Capital, LP 0.27% of their portfolio BOSTON, MA 10,45410.5k $503.3k $503.3k 0.27% Reduced -504 -504
90 Chung Wu Investment Group, LLC 0.52% of their portfolio SUGAR LAND, TX 10,40010.4k $500.7k $500.7k 0.52% New
91 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 10,35710.4k $498.6k $498.6k 0.00% Reduced -4.4k -4,424
92 Fiduciary Trust Co 0.01% of their portfolio Boston, MA 10,27010.3k $494.4k $494.4k 0.01% Reduced -90 -90
93 RFG Advisory, LLC 0.01% of their portfolio BIRMINGHAM, AL 10,24210.2k $493.0k $493.0k 0.01% Added +304 +304
94 PRINCIPAL SECURITIES, INC. 0.01% of their portfolio DES MOINES, IA 9,7149.7k $467.6k $467.6k 0.01% Added +352 +352
95 BAROMETER CAPITAL MANAGEMENT INC. 0.12% of their portfolio TORONTO, A6 9,2009.2k $442.9k $442.9k 0.12% Reduced -3.4k -3,400
96 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 9,0589.1k $436.1k $436.1k 0.00% Reduced -5.2k -5,215
97 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 8,8008.8k $423.6k $423.6k 0.00% Reduced -3.5k -3,500
98 SCP Investment, LP 0.34% of their portfolio ORINDA, CA 8,8008.8k $423.6k $423.6k 0.34% New
99 Physician Wealth Advisors, Inc. 0.07% of their portfolio MIDVALE, UT 8,7008.7k $418.8k $418.8k 0.07% Unchanged
100 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 8,6618.7k $416.9k $416.9k 0.00% Reduced -361 -361