Vault-13

GOLDMAN SACHS PHYSICAL GOLD AAAU

UNIT · ETP · CUSIP 38150K103

188 institutional holders +26 vs Q1 2025
16,570,38916.6m shares reported held*
$541.3mreported value*
41 new 60 added 53 reduced 17 sold out net bought ≈ $36.5m (+1.1m 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 ≈ $32.67. Options: 5 managers hold calls ($901.4k notional), 2 hold puts ($6.0k).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 60Q4 22: 63Q1 23: 75Q2 23: 85Q3 23: 76Q4 23: 95Q1 24: 95Q2 24: 105Q3 24: 125Q4 24: 147Q1 25: 162Q2 25: 188188Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202260
Q4 202263
Q1 202375
Q2 202385
Q3 202376
Q4 202395
Q1 202495
Q2 2024105
Q3 2024125
Q4 2024147
Q1 2025162
Q2 2025188

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 34 bought or addedQ3 23: 43 cut or sold outQ4 23: 46 bought or addedQ4 23: 35 cut or sold outQ4 23Q1 24: 39 bought or addedQ1 24: 49 cut or sold outQ2 24: 49 bought or addedQ2 24: 40 cut or sold outQ2 24Q3 24: 67 bought or addedQ3 24: 40 cut or sold outQ4 24: 67 bought or addedQ4 24: 52 cut or sold outQ4 24Q1 25: 92 bought or addedQ1 25: 52 cut or sold outQ2 25: 101 bought or addedQ2 25: 70 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233443
Q4 20234635
Q1 20243949
Q2 20244940
Q3 20246740
Q4 20246752
Q1 20259252
Q2 202510170

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $2.3mQ1 25 puts: $9.3kQ1 25P/C 0.00Q2 25 calls: $901.4kQ2 25 puts: $6.0kQ2 25P/C 0.01
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$0$0—
Q1 2025$2.3m$9.3k0.00
Q2 2025$901.4k$6.0k0.01

Biggest buyers

Quadrature Capital Ltd New +920,490+920.5k
ROYAL BANK OF CANADA Added +561,790+561.8k
EXCHANGE TRADED CONCEPTS, LLC Added +337,464+337.5k
Prospera Financial Services Inc New +199,057+199.1k
DEBUSSY CAPITAL MANAGEMENT LP New +138,607+138.6k
Mirae Asset Global Investments Co., Ltd. Added +105,000+105.0k
NEOS Investment Management LLC New +104,666+104.7k
STIFEL FINANCIAL CORP Added +94,586+94.6k
Mariner, LLC Added +91,055+91.1k
Spectrum Asset Management, Inc. (NB/CA) New +71,360+71.4k

Biggest sellers

RENAISSANCE TECHNOLOGIES LLC Reduced -637,000-637.0k
Fermata Advisors, LLC Reduced -275,121-275.1k
Geneos Wealth Management Inc. Reduced -229,520-229.5k
Cutter & CO Brokerage, Inc. Sold out -223,828-223.8k
OSAIC HOLDINGS, INC. Reduced -132,686-132.7k
Visionary Wealth Advisors Reduced -132,443-132.4k
CAPSTONE WEALTH MANAGEMENT GROUP, LLC Sold out -93,731-93.7k
Generation Capital Management LLC Sold out -73,442-73.4k
Wellspring Financial Advisors, LLC Reduced -70,869-70.9k
Cetera Investment Advisers Reduced -70,410-70.4k

Biggest calls

CITADEL ADVISORS LLC Reduced $513.1k15.7k shares
GROUP ONE TRADING LLC Added $346.4k10.6k shares
Belvedere Trading LLC New $35.9k1.1k shares
SIMPLEX TRADING, LLC Added $6.0k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SIMPLEX TRADING, LLC New $6.0k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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.

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Wellspring Financial Advisors, LLC 5.41% of their portfolio CLEVELAND, OH 1,647,9581.6m $53.9m $53.9m 5.41% Reduced -70.9k -70,869
2 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,142,0761.1m $37.3m $37.3m 0.00% Added +561.8k +561,790
3 Quadrature Capital Ltd 0.52% of their portfolio LONDON, X0 920,490920.5k $30.1m $30.1m 0.52% New
4 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 770,515770.5k $25.2m $25.2m 0.01% Added +69.4k +69,371
5 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 716,080716.1k $23.4m $23.4m 0.04% Reduced -132.7k -132,686
6 Proficio Capital Partners LLC 1.39% of their portfolio NEWTON, MA 684,180684.2k $22.4m $22.4m 1.39% Reduced -9.6k -9,560
7 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 676,500676.5k $22.1m $22.1m 0.01% Added +22.9k +22,937
8 EXCHANGE TRADED CONCEPTS, LLC 0.25% of their portfolio Oklahoma City, OK 600,138600.1k $19.6m $19.6m 0.25% Added +337.5k +337,464
9 Mirae Asset Global Investments Co., Ltd. 0.05% of their portfolio SEOUL, M5 458,600458.6k $15.0m $15.0m 0.05% Added +105.0k +105,000
10 AUGUSTINE ASSET MANAGEMENT INC 3.37% of their portfolio JACKSONVILLE, FL 384,920384.9k $12.6m $12.6m 3.37% Added +9.7k +9,694
11 ALERUS FINANCIAL NA 0.83% of their portfolio GRAND FORKS, ND 351,739351.7k $11.5m $11.5m 0.83% Unchanged
12 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 336,327336.3k $11.0m $11.0m 0.01% Added +4.1k +4,072
13 OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC 0.52% of their portfolio SAN FRANCISCO, CA 300,209300.2k $9.8m $9.8m 0.52% Reduced -24.3k -24,278
14 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 293,640293.6k $9.6m $9.6m 0.03% Reduced -28.4k -28,354
15 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 287,903287.9k $9.4m $9.4m 0.01% Added +94.6k +94,586
16 COLTON GROOME FINANCIAL ADVISORS, LLC 2.79% of their portfolio ASHEVILLE, NC 251,923251.9k $8.2m $8.2m 2.79% Added +11.9k +11,925
17 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 249,913249.9k $8.2m $8.2m 0.01% Reduced -853 -853
18 China Universal Asset Management Co., Ltd. 0.71% of their portfolio SHANGHAI, F4 232,000232.0k $7.6m $7.6m 0.71% Added +44.0k +44,000
19 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 223,326223.3k $7.3m $7.3m 0.01% Reduced -70.4k -70,410
20 RETIREMENT GUYS FORMULA LLC 2.59% of their portfolio MAUMEE, OH 208,448208.4k $6.8m $6.8m 2.59% Reduced -8.6k -8,634
21 Prospera Financial Services Inc 0.12% of their portfolio Dallas, TX 199,057199.1k $6.5m $6.5m 0.12% New
22 COURAGE CAPITAL MANAGEMENT LLC 8.88% of their portfolio NASHVILLE, TN 184,254184.3k $6.0m $6.0m 8.88% Unchanged
23 OARSMAN CAPITAL, INC. 0.93% of their portfolio MILWAUKEE, WI 182,412182.4k $6.0m $6.0m 0.93% Added +10.4k +10,426
24 MOULTON WEALTH MANAGEMENT, INC 4.53% of their portfolio SPOKANE, WA 181,939181.9k $6.0m $6.0m 4.53% Reduced -47.5k -47,484
25 OLIVER LAGORE VANVALIN INVESTMENT GROUP 2.09% of their portfolio FLINT, MI 172,548172.5k $5.3m $5.3m 2.09% First filing
26 Geneos Wealth Management Inc. 0.12% of their portfolio ENGLEWOOD, CO 155,490155.5k $5.1m $5.1m 0.12% Reduced -229.5k -229,520
27 Winch Advisory Services, LLC 1.18% of their portfolio Appleton, WI 147,804147.8k $4.8m $4.8m 1.18% Reduced -1.8k -1,826
28 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 145,840145.8k $4.8m $4.8m 0.01% Added +56.0k +56,020
29 DEBUSSY CAPITAL MANAGEMENT LP 0.68% of their portfolio CHICAGO, IL 138,607138.6k $4.5m $4.5m 0.68% New
30 Marks Group Wealth Management, Inc 0.35% of their portfolio MINNETONKA, MN 114,140114.1k $3.7m $3.7m 0.35% Added +11.2k +11,243
31 Global Retirement Partners, LLC 0.09% of their portfolio San Rafael, CA 113,861113.9k $3.7m $3.7m 0.09% First filing
32 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 113,484113.5k $3.7m $3.7m 0.01% Added +348 +348
33 OPTIMA CAPITAL LLC 1.97% of their portfolio PORTLAND, OR 111,892111.9k $3.7m $3.7m 1.97% Reduced -3.1k -3,109
34 Fortis Group Advisors, LLC 0.63% of their portfolio WESTWOOD, NJ 107,180107.2k $3.5m $3.5m 0.63% Reduced -23.0k -23,025
35 WealthTrak Capital Management LLC 2.89% of their portfolio VIRGINIA BEACH, VA 105,763105.8k $3.5m $3.5m 2.89% Reduced -7.4k -7,398
36 NEOS Investment Management LLC 0.04% of their portfolio Westport, CT 104,666104.7k $3.4m $3.4m 0.04% New
37 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 104,310104.3k $3.4m $3.4m 0.00% Reduced -4.5k -4,545
38 Mariner, LLC 0.00% of their portfolio Overland Park, KS 99,07999.1k $3.2m $3.2m 0.00% Added +91.1k +91,055
39 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 91,50091.5k $3.0m $3.0m 0.00% Reduced -637.0k -637,000
40 Stratos Investment Management, LLC 0.14% of their portfolio BEACHWOOD, OH 90,34490.3k $3.0m $3.0m 0.14% Added +27.7k +27,683
41 Cambridge Advisors Inc. 0.61% of their portfolio OMAHA, NE 89,46289.5k $2.9m $2.9m 0.61% Added +206 +206
42 CLG LLC 0.90% of their portfolio Long Beach, CA 87,96288.0k $2.9m $2.9m 0.90% Added +5.8k +5,812
43 AXXCESS WEALTH MANAGEMENT, LLC 0.07% of their portfolio CARLSBAD, CA 83,09783.1k $2.7m $2.7m 0.07% Reduced -14.1k -14,105
44 Capital Asset Advisory Services LLC 0.13% of their portfolio Williamston, MI 82,84682.8k $2.7m $2.7m 0.13% Reduced -14.2k -14,200
45 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 79,94679.9k $2.6m $2.6m 0.00% Reduced -55.2k -55,198
46 Nikulski Financial, Inc. 0.68% of their portfolio BETTENDORF, IA 76,46776.5k $2.5m $2.5m 0.68% Added +1.9k +1,940
47 World Investment Advisors 0.06% of their portfolio LINCROFT, NJ 74,86974.9k $2.4m $2.4m 0.06% Added +16.8k +16,768
48 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 73,96774.0k $2.4m $2.4m 0.00% Added +25.6k +25,585
49 OneDigital Investment Advisors LLC 0.03% of their portfolio OVERLAND PARK, KS 73,21873.2k $2.4m $2.4m 0.03% Reduced -4.4k -4,419
50 Foundations Investment Advisors, LLC 0.04% of their portfolio PHOENIX, AZ 71,77471.8k $2.3m $2.3m 0.04% Reduced -4.2k -4,214
51 Spectrum Asset Management, Inc. (NB/CA) 1.01% of their portfolio NEWPORT BEACH, CA 71,36071.4k $2.3m $2.3m 1.01% New
52 Arete Wealth Advisors, LLC 0.16% of their portfolio CHICAGO, IL 70,87970.9k $2.3m $2.3m 0.16% Added +4.9k +4,851
53 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 70,47970.5k $2.3m $2.3m 0.00% Reduced -2.8k -2,817
54 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 69,87569.9k $2.3m $2.3m 0.01% Added +2.9k +2,926
55 GoalVest Advisory LLC 0.55% of their portfolio New York, NY 67,62067.6k $2.2m $2.2m 0.55% New
56 Essex Financial Services, Inc. 0.14% of their portfolio ESSEX, CT 63,87363.9k $2.1m $2.1m 0.14% Reduced -6.5k -6,530
57 Haven Private, LLC 0.90% of their portfolio ORLANDO, FL 61,95562.0k $2.0m $2.0m 0.90% Reduced -5.0k -4,966
58 Paladin Advisory Group, LLC 1.50% of their portfolio CLIVE, IA 60,16260.2k $2.0m $2.0m 1.50% Reduced -631 -631
59 SILVERLAKE WEALTH MANAGEMENT LLC 0.55% of their portfolio WILLISTON, VT 56,91056.9k $1.9m $1.9m 0.55% Added +28.8k +28,800
60 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 56,78456.8k $1.9m $1.9m 0.00% Added +8.1k +8,145
61 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 53,95354.0k $1.8m $1.8m 0.01% Added +2.0k +2,018
62 Riverwater Partners LLC 0.77% of their portfolio Milwaukee, WI 50,13850.1k $1.6m $1.6m 0.77% Added +16.2k +16,223
63 Mutual Advisors, LLC 0.04% of their portfolio OMAHA, NE 48,39348.4k $1.6m $1.6m 0.04% Added +3.2k +3,248
64 Regal Investment Advisors LLC 0.12% of their portfolio KENTWOOD, MI 48,32948.3k $1.6m $1.6m 0.12% Reduced -1.4k -1,401
65 NewEdge Wealth, LLC 0.02% of their portfolio STAMFORD, CT 45,14945.1k $1.5m $1.5m 0.02% New
66 Advisory Services Network, LLC 0.02% of their portfolio ATLANTA, GA 44,71344.7k $1.5m $1.5m 0.02% Added +35.1k +35,072
67 OPPENHEIMER & CO INC 0.02% of their portfolio NEW YORK, NY 43,41743.4k $1.4m $1.4m 0.02% Added +35.6k +35,573
68 Apollon Wealth Management, LLC 0.03% of their portfolio MOUNT PLEASANT, SC 43,40743.4k $1.4m $1.4m 0.03% Added +226 +226
69 J. Stern & Co. LLP 0.12% of their portfolio LONDON, X0 42,41542.4k $1.4m $1.4m 0.12% Unchanged
70 Guidance Point Advisors, LLC 0.33% of their portfolio Wellesley, MA 39,75239.8k $1.3m $1.3m 0.33% Reduced -2.6k -2,625
71 Pinion Investment Advisors, LLC 0.43% of their portfolio WICHITA, KS 38,42838.4k $1.3m $1.3m 0.43% New
72 Fermata Advisors, LLC 0.33% of their portfolio SONOMA, CA 38,05038.0k $1.2m $1.2m 0.33% Reduced -275.1k -275,121
73 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 37,43937.4k $1.2m $1.2m 0.01% Added +29.6k +29,571
74 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 30,77030.8k $1.0m $1.0m 0.00% Added +3.2k +3,250
75 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 29,21929.2k $954.9k $954.9k 0.00% New
76 MATAURO, LLC 0.18% of their portfolio NEW YORK, NY 28,59828.6k $934.6k $934.6k 0.18% Reduced -936 -936
77 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 26,66026.7k $871.2k $871.2k 0.01% Added +5.1k +5,061
78 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 26,50026.5k $866.0k $866.0k 0.00% Reduced -500 -500
79 FOUNDERS FINANCIAL SECURITIES LLC 0.06% of their portfolio TOWSON, MD 25,56725.6k $835.5k $835.5k 0.06% Reduced -41.4k -41,380
80 FOREFRONT WEALTH MANAGEMENT INC. 0.65% of their portfolio MALVERN, PA 24,71424.7k $807.7k $807.7k 0.65% New
81 SAGE RHINO CAPITAL LLC 0.17% of their portfolio MENLO PARK, CA 24,28224.3k $793.5k $793.5k 0.17% Added +14.3k +14,282
82 GENTRY PRIVATE WEALTH, LLC 0.60% of their portfolio WICHITA, KS 23,94823.9k $782.6k $782.6k 0.60% New
83 StoneX Group Inc. 0.04% of their portfolio NEW YORK, NY 23,83423.8k $778.9k $778.9k 0.04% Added +17.1k +17,051
84 SECURED RETIREMENT ADVISORS, LLC 0.46% of their portfolio ST LOUIS PARK, MN 23,69623.7k $774.4k $774.4k 0.46% Reduced -5.1k -5,127
85 Capital Market Strategies LLC 0.53% of their portfolio PALM BEACH GARDENS, FL 23,25823.3k $760.1k $760.1k 0.53% Reduced -4.5k -4,500
86 Prostatis Group LLC 0.22% of their portfolio HANOVER, MD 23,15723.2k $756.8k $756.8k 0.22% Added +3.7k +3,723
87 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 22,10022.1k $722.2k $722.2k 0.02% Reduced -6.1k -6,100
88 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 21,20821.2k $693.1k $693.1k 0.00% Added +6.7k +6,743
89 Visionary Wealth Advisors 0.03% of their portfolio O'FALLON, IL 20,80820.8k $680.0k $680.0k 0.03% Reduced -132.4k -132,443
90 True North Advisors, LLC 0.13% of their portfolio Dallas, TX 20,02020.0k $654.3k $654.3k 0.13% New
91 Grey Ledge Advisors, LLC 0.16% of their portfolio GUILFORD, CT 19,74419.7k $645.2k $645.2k 0.16% Unchanged
92 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 18,80418.8k $614.5k $614.5k 0.00% Added +5.0k +4,999
93 Hilltop National Bank 0.15% of their portfolio CASPER, WY 17,97518.0k $587.4k $587.4k 0.15% First filing
94 SIMPLEX TRADING, LLC 0.02% of their portfolio CHICAGO, IL 17,97418.0k $587.0k $587.0k 0.02% Added +9.8k +9,804
95 Mill Creek Capital Advisors, LLC 0.01% of their portfolio Conshohocken, PA 17,84917.8k $583.3k $583.3k 0.01% Reduced -1.2k -1,206
96 JTC Employer Solutions Trustee Ltd 0.06% of their portfolio ST HELIER, Y9 17,82317.8k $583.0k $583.0k 0.06% Unchanged
97 Strait & Sound Wealth Management LLC 0.25% of their portfolio SAN FRANCISCO, CA 17,73817.7k $579.7k $579.7k 0.25% Added +5.2k +5,199
98 Bell Bank 0.03% of their portfolio FARGO, ND 17,26817.3k $564.3k $564.3k 0.03% Unchanged
99 L.M. KOHN & COMPANY 0.15% of their portfolio CINCINNATI, OH 17,13717.1k $560.0k $560.0k 0.15% New
100 Horst & Graben Wealth Management LLC 0.09% of their portfolio PORTLAND, OR 16,55316.6k $541.0k $541.0k 0.09% New