Vault-13

GLOBAL X FDS SIL

GLOBAL X SILVER · ETP · CUSIP 37954Y848

330 institutional holders +14 vs Q4 2025
15,882,17215.9m shares reported held*
$1.4bnreported value*
66 new 116 added 108 reduced 48 sold out net sold ≈ $28.2m (-328.4k 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 ($9.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $89.92. Options: 10 managers hold calls ($369.0m notional), 11 hold puts ($252.9m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 130Q4 22: 145Q1 23: 138Q2 23: 140Q3 23: 139Q4 23: 152Q1 24: 145Q2 24: 166Q3 24: 153Q4 24: 175Q1 25: 184Q2 25: 205Q3 25: 266Q4 25: 316Q1 26: 330330Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025266
Q4 2025316
Q1 2026330

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 80 bought or addedQ2 24: 50 cut or sold outQ3 24: 60 bought or addedQ3 24: 74 cut or sold outQ3 24Q4 24: 91 bought or addedQ4 24: 47 cut or sold outQ1 25: 107 bought or addedQ1 25: 65 cut or sold outQ1 25Q2 25: 104 bought or addedQ2 25: 70 cut or sold outQ3 25: 175 bought or addedQ3 25: 68 cut or sold outQ3 25Q4 25: 173 bought or addedQ4 25: 111 cut or sold outQ1 26: 182 bought or addedQ1 26: 156 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20248050
Q3 20246074
Q4 20249147
Q1 202510765
Q2 202510470
Q3 202517568
Q4 2025173111
Q1 2026182156

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ2 25 calls: $50.4mQ2 25 puts: $28.2mQ2 25P/C 0.56Q3 25 calls: $202.9mQ3 25 puts: $70.2mQ3 25P/C 0.35Q4 25 calls: $114.3mQ4 25 puts: $111.1mQ4 25P/C 0.97Q1 26 calls: $369.0mQ1 26 puts: $252.9mQ1 26P/C 0.69
Numbers
QuarterCallsPutsP/C
Q2 2025$50.4m$28.2m0.56
Q3 2025$202.9m$70.2m0.35
Q4 2025$114.3m$111.1m0.97
Q1 2026$369.0m$252.9m0.69

Biggest buyers

BANK OF NOVA SCOTIA Added +908,336+908.3k
MORGAN STANLEY Added +380,782+380.8k
TWO SIGMA INVESTMENTS, LP Added +370,000+370.0k
GOLDMAN SACHS GROUP INC Added +237,861+237.9k
MARCO INVESTMENT MANAGEMENT LLC Added +197,160+197.2k
CI INVESTMENTS INC. New +164,318+164.3k
LPL Financial LLC Added +155,525+155.5k
Point72 Asset Management, L.P. Added +135,374+135.4k
UBS Group AG Added +131,544+131.5k
Qube Research & Technologies Ltd Added +115,965+116.0k

Biggest sellers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -889,716-889.7k
MEITAV INVESTMENT HOUSE LTD Reduced -467,000-467.0k
CITADEL ADVISORS LLC Reduced -256,923-256.9k
Southeast Asset Advisors, LLC Sold out -247,184-247.2k
CITIGROUP INC Reduced -189,802-189.8k
ARP Global Capital Ltd Sold out -141,254-141.3k
Foundations Investment Advisors, LLC Reduced -124,861-124.9k
Yong Rong (HK) Asset Management Ltd Sold out -120,000-120.0k
Tidal Investments LLC Reduced -119,843-119.8k
GROUP ONE TRADING LLC Reduced -101,387-101.4k

Biggest calls

CITADEL ADVISORS LLC Added $155.8m1.7m shares
JANE STREET GROUP, LLC Added $90.3m1.0m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $72.4m803.6k shares
Point72 Asset Management, L.P. Added $31.5m350.1k shares
Walleye Trading LLC Added $8.7m96.8k shares
Belvedere Trading LLC Added $5.9m65.5k shares
GOLDMAN SACHS GROUP INC Added $2.2m24.2k shares
CAPITAL FUND MANAGEMENT S.A. Added $1.2m13.6k shares
Beacon Pointe Advisors, LLC Added $693.6k7.7k shares
Tidal Investments LLC New $252.2k2.8k shares

Biggest puts

JANE STREET GROUP, LLC Added $83.5m926.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $74.4m825.9k shares
CITADEL ADVISORS LLC Added $46.9m520.7k shares
Point72 Asset Management, L.P. Added $21.6m240.2k shares
Belvedere Trading LLC Added $10.1m111.7k shares
Walleye Trading LLC Added $6.0m66.5k shares
CITIGROUP INC New $4.5m50.0k shares
GOLDMAN SACHS GROUP INC New $3.6m40.0k shares
CAPITAL FUND MANAGEMENT S.A. New $1.5m17.0k shares
SIG BROKERAGE, LP New $540.5k6.0k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,846,8841.8m $166.4m $166.4m 0.01% Added +380.8k +380,782
2 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.14% of their portfolio BALA CYNWYD, PA 1,242,9881.2m $112.0m $112.0m 0.14% Reduced -889.7k -889,716
3 BANK OF NOVA SCOTIA 0.19% of their portfolio TORONTO, A6 1,203,7361.2m $108.4m $108.4m 0.19% Added +908.3k +908,336
4 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,056,3691.1m $95.2m $95.2m 0.03% Added +155.5k +155,525
5 MEITAV INVESTMENT HOUSE LTD 0.74% of their portfolio BENE-BERAQ, L3 753,000753.0k $67.8m $67.8m 0.74% Reduced -467.0k -467,000
6 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 719,300719.3k $64.8m $64.8m 0.05% Added +370.0k +370,000
7 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 543,383543.4k $48.9m $48.9m 0.05% Added +113.2k +113,227
8 UBS Group AG 0.01% of their portfolio ZURICH, V8 472,590472.6k $42.6m $42.6m 0.01% Added +131.5k +131,544
9 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 352,790352.8k $31.8m $31.8m 0.03% Added +54.0k +53,990
10 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 345,778345.8k $31.1m $31.1m 0.01% Reduced -38.9k -38,878
11 MAINSTAY CAPITAL MANAGEMENT LLC /ADV 2.27% of their portfolio GRAND BLANC, MI 327,390327.4k $29.5m $29.5m 2.27% Added +18.2k +18,250
12 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 262,430262.4k $23.6m $23.6m 0.00% Added +237.9k +237,861
13 Electrum Group LLC 2.09% of their portfolio NEW YORK, NY 251,009251.0k $22.6m $22.6m 2.09% Reduced -91.0k -91,000
14 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 232,455232.5k $20.9m $20.9m 0.01% Added +54.1k +54,058
15 Point72 Asset Management, L.P. 0.03% of their portfolio STAMFORD, CT 213,976214.0k $19.3m $19.3m 0.03% Added +135.4k +135,374
16 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 208,247208.2k $18.8m $18.8m 0.03% Reduced -5.7k -5,720
17 GROUP ONE TRADING LLC 0.60% of their portfolio CHICAGO, IL 200,415200.4k $18.1m $18.1m 0.60% Reduced -101.4k -101,387
18 MARCO INVESTMENT MANAGEMENT LLC 1.36% of their portfolio ATLANTA, GA 200,160200.2k $18.0m $18.0m 1.36% Added +197.2k +197,160
19 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 199,736199.7k $14.9m $14.9m 0.00% Reduced -1.4k -1,449
20 POTOMAC FUND MANAGEMENT INC /ADV 0.56% of their portfolio BETHESDA, MD 179,200179.2k $16.1m $16.1m 0.56% Added +15.3k +15,311
21 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 177,458177.5k $16.0m $16.0m 0.00% Added +24.1k +24,147
22 CI INVESTMENTS INC. 0.07% of their portfolio TORONTO, Z4 164,318164.3k $14.8m $14.8m 0.07% New
23 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 155,407155.4k $14.0m $14.0m 0.00% Reduced -18.1k -18,140
24 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 149,572149.6k $13.5m $13.5m 0.01% Added +15.7k +15,654
25 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 141,211141.2k $12.7m $12.7m 0.01% Reduced -189.8k -189,802
26 Asset One Wealth Management LLC 1.46% of their portfolio BELLEVUE, WA 140,385140.4k $13.2m $13.2m 1.46% Added +2.1k +2,107
27 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 135,256135.3k $12.2m $12.2m 0.01% Reduced -25.1k -25,060
28 BFI Infinity Ltd. 6.12% of their portfolio ZURICH, V8 121,319121.3k $10.9m $10.9m 6.12% Added +1.9k +1,896
29 Belvedere Trading LLC 1.44% of their portfolio CHICAGO, IL 119,539119.5k $10.8m $10.8m 1.44% Added +17.9k +17,921
30 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 117,154117.2k $10.6m $10.6m 0.00% Reduced -66.3k -66,348
31 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 116,445116.4k $10.5m $10.5m 0.01% Added +116.0k +115,965
32 Elite Wealth Management, Inc. 3.11% of their portfolio KIRKLAND, WA 106,416106.4k $9.6m $9.6m 3.11% Reduced -8.6k -8,595
33 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 96,38696.4k $8.7m $8.7m 0.01% Added +6.6k +6,625
34 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 92,39092.4k $8.3m $8.3m 0.00% Added +78.3k +78,311
35 Summit Financial, LLC 0.09% of their portfolio PARSIPPANY, NJ 81,62781.6k $7.4m $7.4m 0.09% Reduced -60 -60
36 WIT Partners Advisory Pte. Ltd. 2.01% of their portfolio SINGAPORE, U0 76,48276.5k $6.9m $6.9m 2.01% Added +5.9k +5,930
37 Beverly Hills Private Wealth, LLC 1.09% of their portfolio BEVERLY HILLS, CA 72,41772.4k $6.5m $6.5m 1.09% Added +17.7k +17,741
38 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 66,65366.7k $6.0m $6.0m 0.02% Added +17.8k +17,776
39 Federation des caisses Desjardins du Quebec 0.02% of their portfolio LEVIS, A8 65,93265.9k $5.9m $5.9m 0.02% Reduced -31.1k -31,073
40 VMS Asset Management Limited 3.55% of their portfolio HONG KONG, K3 64,58064.6k $5.8m $5.8m 3.55% New
41 ONE PLUS ONE WEALTH MANAGEMENT, LLC 2.43% of their portfolio JUPITER, FL 63,86163.9k $5.8m $5.8m 2.43% Reduced -4.9k -4,866
42 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 63,70663.7k $5.7m $5.7m 0.00% Reduced -41.4k -41,442
43 Marex Group Ltd 0.05% of their portfolio London, X0 53,12953.1k $4.8m $4.8m 0.05% Added +16.8k +16,849
44 ELEVATION POINT WEALTH PARTNERS, LLC 0.11% of their portfolio DENVER, CO 50,97851.0k $4.6m $4.6m 0.11% New
45 D.A. DAVIDSON & CO. 0.03% of their portfolio GREAT FALLS, MT 50,11350.1k $4.5m $4.5m 0.03% Reduced -9.5k -9,469
46 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.03% of their portfolio IRVING, TX 49,48949.5k $4.5m $4.5m 0.03% Added +15.0k +15,039
47 GTS SECURITIES LLC 0.15% of their portfolio NEW YORK, NY 48,29748.3k $4.4m $4.4m 0.15% Reduced -25.3k -25,331
48 Y-Intercept (Hong Kong) Ltd 0.08% of their portfolio HONG KONG, K3 46,98547.0k $4.2m $4.2m 0.08% New
49 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 46,41146.4k $4.2m $4.2m 0.00% Added +6.8k +6,816
50 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 46,07346.1k $3.9m $3.9m 0.00% Added +31.9k +31,907
51 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 45,59945.6k $4.1m $4.1m 0.01% Added +11.3k +11,328
52 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 44,25244.3k $3.7m $3.7m 0.00% Added +39.1k +39,094
53 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 44,00444.0k $4.0m $4.0m 0.02% Reduced -16.9k -16,910
54 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 43,55543.6k $3.9m $3.9m 0.01% Added +7.2k +7,185
55 SPROTT INC. 0.12% of their portfolio TORONTO, A6 42,32642.3k $3.8m $3.8m 0.12% Reduced -25.0k -24,971
56 SIH Partners, LLLP 0.12% of their portfolio Wilmington, DE 41,76241.8k $3.8m $3.8m 0.12% New
57 HARBOUR INVESTMENTS, INC. 0.06% of their portfolio MADISON, WI 39,61039.6k $3.6m $3.6m 0.06% Added +30.8k +30,831
58 PCG Wealth Advisors, LLC 0.89% of their portfolio OVERLAND PARK, KS 39,22439.2k $3.5m $3.5m 0.89% Reduced -70.7k -70,653
59 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 38,72638.7k $3.5m $3.5m 0.01% Added +19.1k +19,122
60 NORTHEAST PLANNING ASSOCIATES, INC. / NH / 2.34% of their portfolio BEDFORD, NH 38,67038.7k $3.5m $3.5m 2.34% Added +6.4k +6,406
61 Gotham Asset Management, LLC 0.01% of their portfolio NEW YORK, NY 38,62038.6k $3.5m $3.5m 0.01% New
62 IMC-Chicago, LLC 0.05% of their portfolio CHICAGO, IL 37,19237.2k $3.4m $3.4m 0.05% Added +6.5k +6,515
63 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 36,84936.8k $3.3m $3.3m 0.01% Added +15.7k +15,684
64 SHARPEPOINT LLC 1.98% of their portfolio PHOENIX, AZ 36,82236.8k $3.3m $3.3m 1.98% Reduced -5.8k -5,848
65 CAPITAL FUND MANAGEMENT S.A. 0.03% of their portfolio PARIS, I0 34,88734.9k $3.1m $3.1m 0.03% New
66 QUATTRO FINANCIAL ADVISORS LLC 0.95% of their portfolio The Woodlands, TX 34,69034.7k $3.1m $3.1m 0.95% Reduced -14.5k -14,505
67 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 33,20533.2k $3.0m $3.0m 0.00% Reduced -2.1k -2,061
68 Walleye Trading LLC 0.06% of their portfolio NEW YORK, NY 32,96833.0k $3.0m $3.0m 0.06% Added +9.7k +9,708
69 New Harbor Financial Group, LLC 0.51% of their portfolio WORCESTER, MA 31,07331.1k $2.8m $2.8m 0.51% Added +2.2k +2,231
70 BANQUE PICTET & CIE SA 0.03% of their portfolio GENEVA 73, V8 31,00031.0k $2.8m $2.8m 0.03% Added +5.0k +5,000
71 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 30,81030.8k $2.8m $2.8m 0.00% Reduced -28.8k -28,767
72 Crescent Grove Advisors, LLC 0.26% of their portfolio LAKE FOREST, IL 29,51629.5k $2.7m $2.7m 0.26% Reduced -18.4k -18,424
73 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 29,23629.2k $2.6m $2.6m 0.01% Added +10.7k +10,681
74 Norris Financial Group, LLC 0.85% of their portfolio GREENVILLE, SC 29,00429.0k $2.6m $2.6m 0.85% Added +1.4k +1,372
75 EVOKE WEALTH, LLC 0.05% of their portfolio Los Angeles, CA 27,99728.0k $2.5m $2.5m 0.05% Reduced -6.7k -6,726
76 Kurv Investment Management LLC 2.47% of their portfolio San Francisco, CA 27,94627.9k $2.3m $2.3m 2.47% Added +9.0k +9,007
77 Mariner, LLC 0.00% of their portfolio Overland Park, KS 26,71226.7k $2.4m $2.4m 0.00% Reduced -688 -688
78 CreativeOne Wealth, LLC 0.06% of their portfolio OVERLAND PARK, KS 26,33026.3k $2.4m $2.4m 0.06% Added +23.2k +23,180
79 WYNNEFIELD CAPITAL INC 1.53% of their portfolio NEW YORK, NY 25,00025.0k $2.3m $2.3m 1.53% Unchanged
80 JUNCTURE WEALTH STRATEGIES, LLC 0.72% of their portfolio SCOTTSDALE, AZ 23,89523.9k $2.2m $2.2m 0.72% Added +2.8k +2,783
81 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 23,81923.8k $2.1m $2.1m 0.01% Added +18.6k +18,553
82 IHT Wealth Management, LLC 0.05% of their portfolio Chicago, IL 23,11423.1k $2.1m $2.1m 0.05% Reduced -7.8k -7,836
83 First International Bank of Israel Ltd. 0.60% of their portfolio TEL AVIV, L3 22,60022.6k $2.0m $2.0m 0.60% New
84 Vontobel Holding Ltd. 0.01% of their portfolio ZURICH, V8 22,29022.3k $2.0m $2.0m 0.01% Added +690 +690
85 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 21,75121.8k $2.0m $2.0m 0.00% Reduced -1.4k -1,440
86 FWL INVESTMENT MANAGEMENT, LLC 0.42% of their portfolio Dallas, TX 21,46421.5k $1.9m $1.9m 0.42% Added +17.9k +17,929
87 Proficio Capital Partners LLC 0.10% of their portfolio NEWTON, MA 20,98221.0k $1.9m $1.9m 0.10% Reduced -3.6k -3,585
88 Geneos Wealth Management Inc. 0.04% of their portfolio ENGLEWOOD, CO 20,90420.9k $1.9m $1.9m 0.04% Reduced -2.5k -2,550
89 Pekin Hardy Strauss, Inc. 0.19% of their portfolio CHICAGO, IL 20,58120.6k $1.9m $1.9m 0.19% Reduced -25.9k -25,892
90 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 20,26420.3k $1.8m $1.8m 0.00% New
91 Ballew Advisors, Inc 1.08% of their portfolio Jackson, MS 19,96720.0k $1.9m $1.9m 1.08% Added +8.0k +7,970
92 PARSONS CAPITAL MANAGEMENT INC/RI 0.08% of their portfolio PROVIDENCE, RI 19,00019.0k $1.7m $1.7m 0.08% Unchanged
93 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 18,90018.9k $1.7m $1.7m 0.00% Added +7.6k +7,619
94 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 18,80418.8k $1.7m $1.7m 0.00% Reduced -66.8k -66,780
95 PEAK6 LLC 0.05% of their portfolio AUSTIN, TX 18,80018.8k $1.7m $1.7m 0.05% New
96 HOLLENCREST CAPITAL MANAGEMENT 0.06% of their portfolio NEWPORT BEACH, CA 18,59118.6k $1.7m $1.7m 0.06% Reduced -120 -120
97 Harvest Investment Services, LLC 0.30% of their portfolio Oakbrook Terrace, IL 18,14318.1k $1.6m $1.6m 0.30% New
98 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 17,59617.6k $1.6m $1.6m 0.00% Added +3.3k +3,276
99 SIMPLEX TRADING, LLC 0.05% of their portfolio CHICAGO, IL 17,52417.5k $1.6m $1.6m 0.05% Reduced -53.5k -53,526
100 HARBOR INVESTMENT ADVISORY, LLC 0.12% of their portfolio LUTHERVILLE, MD 17,36117.4k $1.6m $1.6m 0.12% Reduced -4.0k -4,048