Vault-13

ISHARES INC RING

MSCI GBL GOLD MN · ETP · CUSIP 46434G855

207 institutional holders +12 vs Q3 2025
13,958,82614.0m shares reported held*
$1.0bnreported value*
32 new 81 added 59 reduced 26 sold out net bought ≈ $31.7m (+414.7k 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 ($895.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $73.81. Options: 4 managers hold calls ($2.4m notional), 3 hold puts ($854.2k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 74Q4 22: 90Q1 23: 96Q2 23: 78Q3 23: 65Q4 23: 84Q1 24: 81Q2 24: 93Q3 24: 99Q4 24: 125Q1 25: 138Q2 25: 168Q3 25: 195Q4 25: 207207Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202274
Q4 202290
Q1 202396
Q2 202378
Q3 202365
Q4 202384
Q1 202481
Q2 202493
Q3 202499
Q4 2024125
Q1 2025138
Q2 2025168
Q3 2025195
Q4 2025207

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 31 bought or addedQ1 24: 36 cut or sold outQ2 24: 35 bought or addedQ2 24: 40 cut or sold outQ2 24Q3 24: 39 bought or addedQ3 24: 39 cut or sold outQ4 24: 74 bought or addedQ4 24: 38 cut or sold outQ4 24Q1 25: 61 bought or addedQ1 25: 67 cut or sold outQ2 25: 90 bought or addedQ2 25: 65 cut or sold outQ2 25Q3 25: 112 bought or addedQ3 25: 59 cut or sold outQ4 25: 113 bought or addedQ4 25: 85 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243136
Q2 20243540
Q3 20243939
Q4 20247438
Q1 20256167
Q2 20259065
Q3 202511259
Q4 202511385

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ1 25 calls: $563.9kQ1 25 puts: $53.7kQ1 25P/C 0.10Q2 25 calls: $297.7kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $2.7mQ3 25 puts: $491.8kQ3 25P/C 0.18Q4 25 calls: $2.4mQ4 25 puts: $854.2kQ4 25P/C 0.35
Numbers
QuarterCallsPutsP/C
Q1 2025$563.9k$53.7k0.10
Q2 2025$297.7k$00.00
Q3 2025$2.7m$491.8k0.18
Q4 2025$2.4m$854.2k0.35

Biggest buyers

BlackRock, Inc. Added +978,311+978.3k
SCHRODER INVESTMENT MANAGEMENT GROUP Added +426,536+426.5k
ENVESTNET ASSET MANAGEMENT INC Added +306,310+306.3k
WELLS FARGO & COMPANY/MN Added +114,268+114.3k
MML INVESTORS SERVICES, LLC Added +101,657+101.7k
LPL Financial LLC Added +97,236+97.2k
PRICE T ROWE ASSOCIATES INC /MD/ New +73,724+73.7k
Thrivent Financial for Lutherans New +68,243+68.2k
BANK OF AMERICA CORP /DE/ Added +63,334+63.3k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +48,742+48.7k

Biggest sellers

Municipal Employees' Retirement System of Michigan Reduced -528,148-528.1k
JANE STREET GROUP, LLC Sold out -352,300-352.3k
Guardian Partners Inc. Reduced -314,400-314.4k
JPMORGAN CHASE & CO Reduced -218,415-218.4k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduced -117,991-118.0k
FLAGSHIP HARBOR ADVISORS, LLC Sold out -107,120-107.1k
Allianz Asset Management GmbH Reduced -105,380-105.4k
Proficio Capital Partners LLC Reduced -103,462-103.5k
ROYAL BANK OF CANADA Reduced -60,551-60.6k
Synergy Asset Management, LLC Sold out -40,021-40.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.1m15.0k shares
CITADEL ADVISORS LLC Reduced $706.9k9.6k shares
Belvedere Trading LLC Reduced $338.7k4.6k shares
JANE STREET GROUP, LLC New $257.7k3.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $530.2k7.2k shares
CITADEL ADVISORS LLC New $257.7k3.5k shares
Belvedere Trading LLC New $66.3k900 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 1,835,4631.8m $135.2m $135.2m 0.04% Added +306.3k +306,310
2 SCHRODER INVESTMENT MANAGEMENT GROUP 0.08% of their portfolio London, X0 1,491,6351.5m $111.6m $111.6m 0.08% Added +426.5k +426,536
3 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,043,4941.0m $76.8m $76.8m 0.02% Added +97.2k +97,236
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 979,373979.4k $72.1m $72.1m 0.00% Added +978.3k +978,311
5 Municipal Employees' Retirement System of Michigan 0.70% of their portfolio LANSING, MI 844,062844.1k $62.2m $62.2m 0.70% Reduced -528.1k -528,148
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 646,005646.0k $47.6m $47.6m 0.00% Reduced -21.7k -21,694
7 MML INVESTORS SERVICES, LLC 0.08% of their portfolio SPRINGFIELD, MA 463,072463.1k $34.1m $34.1m 0.08% Added +101.7k +101,657
8 Allianz Asset Management GmbH 0.04% of their portfolio MUNICH, 2M 441,639441.6k $32.5m $32.5m 0.04% Reduced -105.4k -105,380
9 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 405,778405.8k $29.9m $29.9m 0.03% Reduced -28.7k -28,713
10 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 369,627369.6k $27.2m $27.2m 0.01% Added +114.3k +114,268
11 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 266,482266.5k $19.6m $19.6m 0.00% Added +63.3k +63,334
12 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 265,137265.1k $19.5m $19.5m 0.00% Reduced -218.4k -218,415
13 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 207,857207.9k $15.3m $15.3m 0.02% Reduced -17.6k -17,577
14 Horizon Wealth Management, LLC 2.36% of their portfolio LA GRANGE, IL 206,817206.8k $15.2m $15.2m 2.36% Reduced -4.3k -4,259
15 Proficio Capital Partners LLC 0.98% of their portfolio NEWTON, MA 189,993190.0k $14.0m $14.0m 0.98% Reduced -103.5k -103,462
16 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 177,257177.3k $13.1m $13.1m 0.00% Added +472 +472
17 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 174,790174.8k $12.9m $12.9m 0.01% Added +4.8k +4,763
18 180 WEALTH ADVISORS, LLC 1.44% of their portfolio FEDERAL WAY, WA 172,149172.1k $12.7m $12.7m 1.44% Reduced -170 -170
19 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 165,393165.4k $12.2m $12.2m 0.01% Added +48.7k +48,742
20 SYON CAPITAL LLC 0.60% of their portfolio SAN FRANCISCO, CA 164,673164.7k $12.1m $12.1m 0.60% Reduced -9.9k -9,908
21 Guardian Partners Inc. 0.91% of their portfolio TORONTO, Z4 155,000155.0k $11.4m $11.4m 0.91% Reduced -314.4k -314,400
22 UBS Group AG 0.00% of their portfolio ZURICH, V8 136,789136.8k $10.1m $10.1m 0.00% Reduced -39.7k -39,693
23 Almanack Investment Partners, LLC. 1.59% of their portfolio WAYNE, PA 126,790126.8k $9.3m $9.3m 1.59% Reduced -3.3k -3,277
24 PARK AVENUE SECURITIES LLC 0.08% of their portfolio NEW YORK, NY 122,728122.7k $9.0m $9.0m 0.08% Added +20.6k +20,640
25 SeaBridge Investment Advisors LLC 1.45% of their portfolio SUMMIT, NJ 119,248119.2k $8.8m $8.8m 1.45% Added +33.2k +33,223
26 Prospera Financial Services Inc 0.14% of their portfolio Dallas, TX 112,633112.6k $8.3m $8.3m 0.14% Added +2.0k +2,045
27 Avid Wealth Partners LLC 3.31% of their portfolio SAN ANTONIO, TX 91,88891.9k $6.8m $6.8m 3.31% Added +6.5k +6,532
28 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 82,98883.0k $6.1m $6.1m 0.02% Reduced -4.9k -4,891
29 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 75,73475.7k $5.6m $5.6m 0.01% Added +13.5k +13,476
30 RHS Financial, LLC 2.68% of their portfolio SAN FRANCISCO, CA 74,54574.5k $5.5m $5.5m 2.68% Added +7.5k +7,505
31 Keystone Global Partners, LLC 2.39% of their portfolio DENVER, CO 73,86773.9k $5.4m $5.4m 2.39% Added +27.9k +27,942
32 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 73,72473.7k $5.4m $5.4m 0.00% New
33 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 68,24368.2k $5.0m $5.0m 0.01% New
34 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 67,05067.0k $4.9m $4.9m 0.00% Added +6.1k +6,106
35 3EDGE Asset Management, LP 0.26% of their portfolio Naples, FL 66,53666.5k $5.0m $5.0m 0.26% Added +1.7k +1,713
36 Versant Capital Management, Inc 0.58% of their portfolio PHOENIX, AZ 63,02063.0k $4.6m $4.6m 0.58% Reduced -5.3k -5,324
37 EFG International AG 0.09% of their portfolio Zurich, V8 62,63162.6k $4.6m $4.6m 0.09% First filing
38 Climber Capital SA 2.13% of their portfolio NYON, V8 59,52559.5k $3.3m $3.3m 2.13% First filing
39 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 56,33656.3k $4.1m $4.1m 0.00% Reduced -32.5k -32,463
40 Empowered Funds, LLC 0.07% of their portfolio NEWTOWN SQUARE, PA 54,24454.2k $4.0m $4.0m 0.07% Reduced -35.1k -35,103
41 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 52,92552.9k $3.9m $3.9m 0.00% Reduced -60.6k -60,551
42 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 52,60252.6k $3.9m $3.9m 0.01% Reduced -4.1k -4,088
43 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 52,27552.3k $3.8m $3.8m 0.01% Reduced -5.6k -5,563
44 TD Waterhouse Canada Inc. 0.02% of their portfolio TORONTO, A6 51,76451.8k $3.8m $3.8m 0.02% Reduced -29.3k -29,325
45 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 45,30045.3k $3.3m $3.3m 0.00% New
46 Advisory Services Network, LLC 0.04% of their portfolio ATLANTA, GA 41,50241.5k $3.1m $3.1m 0.04% Added +16.8k +16,837
47 LifeGoal Investments, LLC 2.01% of their portfolio SARATOGA SPRINGS, NY 41,04341.0k $3.0m $3.0m 2.01% Added +3.0k +3,026
48 MANCHESTER FINANCIAL INC 0.56% of their portfolio Westlake Village, CA 40,85440.9k $3.0m $3.0m 0.56% Added +202 +202
49 WBH ADVISORY INC 0.22% of their portfolio BALTIMORE, MD 40,70040.7k $3.0m $3.0m 0.22% Added +3.7k +3,693
50 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 40,52740.5k $3.0m $3.0m 0.00% Added +17.6k +17,587
51 Beverly Hills Private Wealth, LLC 0.49% of their portfolio BEVERLY HILLS, CA 38,74838.7k $2.9m $2.9m 0.49% Added +450 +450
52 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 38,21738.2k $2.8m $2.8m 0.01% Added +10.3k +10,320
53 Beacon Pointe Advisors, LLC 0.02% of their portfolio NEWPORT BEACH, CA 37,03337.0k $2.7m $2.7m 0.02% New
54 Turning Point Benefit Group, Inc. 1.42% of their portfolio FREDERICK, MD 36,86436.9k $2.7m $2.7m 1.42% Added +2.9k +2,865
55 Sequoia Financial Advisors, LLC 0.02% of their portfolio Akron, OH 36,47136.5k $2.7m $2.7m 0.02% Added +2.0k +2,001
56 Clearwater Capital Advisors, LLC 0.21% of their portfolio HOFFMAN ESTATES, IL 34,64734.6k $2.6m $2.6m 0.21% Reduced -2.1k -2,079
57 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 33,80633.8k $2.5m $2.5m 0.00% New
58 Comprehensive Wealth Management, LLC 1.40% of their portfolio LYNNWOOD, WA 32,19532.2k $2.4m $2.4m 1.40% Reduced -703 -703
59 Tidal Investments LLC 0.01% of their portfolio Milwaukee, WI 29,12729.1k $2.1m $2.1m 0.01% New
60 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 28,51828.5k $2.1m $2.1m 0.01% Added +24.0k +23,989
61 RFG Advisory, LLC 0.03% of their portfolio BIRMINGHAM, AL 22,75122.8k $1.7m $1.7m 0.03% Added +1.9k +1,856
62 Williams & Novak, LLC 1.26% of their portfolio WESTLAKE VILLAGE, CA 22,64022.6k $1.7m $1.7m 1.26% Reduced -4.8k -4,762
63 GTS SECURITIES LLC 0.06% of their portfolio NEW YORK, NY 22,43522.4k $1.7m $1.7m 0.06% Added +16.7k +16,732
64 FIG FINANCIAL ADVISORY SERVICES INC /ADV 1.03% of their portfolio OKLAHOMA CITY, OK 22,17722.2k $1.6m $1.6m 1.03% Reduced -4.0k -3,973
65 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 21,94021.9k $1.6m $1.6m 0.01% Unchanged
66 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 21,81321.8k $1.6m $1.6m 0.01% Reduced -9.6k -9,607
67 OLD MISSION CAPITAL LLC 0.06% of their portfolio CHICAGO, IL 20,86020.9k $1.5m $1.5m 0.06% New
68 Asset One Wealth Management LLC 0.23% of their portfolio BELLEVUE, WA 20,35420.4k $1.6m $1.6m 0.23% First filing
69 Moors & Cabot, Inc. 0.06% of their portfolio BOSTON, MA 19,92619.9k $1.5m $1.5m 0.06% Added +213 +213
70 TRANSATLANTIQUE PRIVATE WEALTH LLC 0.45% of their portfolio NEW YORK, NY 19,64319.6k $1.4m $1.4m 0.45% Added +3.7k +3,660
71 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 19,61119.6k $1.4m $1.4m 0.00% Reduced -5.7k -5,654
72 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 18,16718.2k $1.3m $1.3m 0.00% Reduced -1.1k -1,099
73 Comprehensive Money Management Services LLC 0.91% of their portfolio CORAL GABLES, FL 18,01318.0k $1.3m $1.3m 0.91% Reduced -1.2k -1,167
74 Mariner, LLC 0.00% of their portfolio Overland Park, KS 17,91417.9k $1.3m $1.3m 0.00% Added +3.5k +3,538
75 SouthState Bank Corp 0.06% of their portfolio Winter Haven, FL 17,50817.5k $1.3m $1.3m 0.06% Unchanged
76 HUNTINGTON NATIONAL BANK 0.01% of their portfolio COLUMBUS, OH 17,47517.5k $1.3m $1.3m 0.01% Added +9.1k +9,139
77 Sandy Cove Advisors, LLC 0.36% of their portfolio Hingham, MA 16,50016.5k $1.2m $1.2m 0.36% Unchanged
78 U.S. Capital Wealth Advisors, LLC 0.03% of their portfolio AUSTIN, TX 15,72115.7k $1.2m $1.2m 0.03% Reduced -22.0k -21,952
79 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.01% of their portfolio IRVING, TX 14,90214.9k $1.1m $1.1m 0.01% Added +10.5k +10,502
80 GPS Wealth Strategies Group, LLC 0.91% of their portfolio CENTENNIAL, CO 14,53114.5k $1.1m $1.1m 0.91% Reduced -5.9k -5,921
81 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 14,27514.3k $675.6k $675.6k 0.02% Added +3.5k +3,494
82 Invst, LLC 0.11% of their portfolio INDIANAPOLIS, IN 14,22014.2k $1.0m $1.0m 0.11% Added +2.5k +2,459
83 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 13,92413.9k $1.0m $1.0m 0.01% Added +2.8k +2,844
84 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 13,59413.6k $1.0m $1.0m 0.00% Added +17 +17
85 Pathfinder Wealth Consulting, Inc. 0.62% of their portfolio WILMINGTON, NC 13,36013.4k $983.8k $983.8k 0.62% First filing
86 IHT Wealth Management, LLC 0.02% of their portfolio Chicago, IL 12,78512.8k $941.5k $941.5k 0.02% Added +1.9k +1,909
87 Gainplan LLC 0.35% of their portfolio BLOOMFIELD HILLS, MI 12,61312.6k $928.8k $928.8k 0.35% Reduced -12.4k -12,361
88 FOUNDERS FINANCIAL SECURITIES LLC 0.05% of their portfolio TOWSON, MD 12,52412.5k $922.3k $922.3k 0.05% Reduced -210 -210
89 Berkeley Capital Partners, LLC 0.21% of their portfolio Milton, GA 12,03312.0k $886.1k $886.1k 0.21% Reduced -313 -313
90 Aspect Partners, LLC 0.36% of their portfolio FAIRFAX, VA 11,31311.3k $833.1k $833.1k 0.36% Unchanged
91 NWAM LLC 0.06% of their portfolio MERCER ISLAND, WA 10,99711.0k $1.0m $1.0m 0.06% Reduced -603 -603
92 Portfolio Strategies, Inc. 0.08% of their portfolio MONTVALE, NJ 9,95110.0k $732.8k $732.8k 0.08% Reduced -110 -110
93 Perigon Wealth Management, LLC 0.01% of their portfolio SAN FRANCISCO, CA 9,8759.9k $727.2k $727.2k 0.01% Unchanged
94 Financial Enhancement Group LLC 0.11% of their portfolio ANDERSON, IN 9,7749.8k $843.3k $843.3k 0.11% Reduced -3.6k -3,633
95 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 9,4039.4k $692.5k $692.5k 0.00% Added +1.6k +1,615
96 INSIGNEO ADVISORY SERVICES, LLC 0.05% of their portfolio MIAMI, FL 9,3019.3k $684.9k $684.9k 0.05% New
97 Magnus Financial Group LLC 0.05% of their portfolio NEW YORK, NY 9,1479.1k $673.5k $673.5k 0.05% Added +1.6k +1,649
98 Orion Porfolio Solutions, LLC 0.00% of their portfolio OMAHA, NE 8,8458.8k $651.3k $651.3k 0.00% New
99 SMITH, MOORE & CO. 0.05% of their portfolio CLAYTON, MO 8,8368.8k $650.7k $650.7k 0.05% Unchanged
100 Regal Investment Advisors LLC 0.04% of their portfolio KENTWOOD, MI 8,8058.8k $648.4k $648.4k 0.04% Added +1.8k +1,828