Vault-13

SPDR GOLD TR GLD

GOLD SHS · ETP · CUSIP 78463V107 · ISIN US78463V1070

Exchange-traded fund

2,587 institutional holders +165 vs Q4 2024
135,048,843135.0m shares reported held*
$38.9bnreported value*
252 new 1,005 added 788 reduced 76 sold out net bought ≈ $2.5bn (+8.7m 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 ($57.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $288.07. Options: 77 managers hold calls ($38.0bn notional), 89 hold puts ($27.3bn).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,762Q4 22: 1,832Q1 23: 1,907Q2 23: 1,910Q3 23: 1,856Q4 23: 2,033Q1 24: 2,075Q2 24: 2,114Q3 24: 2,217Q4 24: 2,422Q1 25: 2,5872,587Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 20221,762
Q4 20221,832
Q1 20231,907
Q2 20231,910
Q3 20231,856
Q4 20232,033
Q1 20242,075
Q2 20242,114
Q3 20242,217
Q4 20242,422
Q1 20252,587

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ2 23: 793 bought or addedQ2 23: 785 cut or sold outQ3 23: 572 bought or addedQ3 23: 921 cut or sold outQ3 23Q4 23: 731 bought or addedQ4 23: 840 cut or sold outQ1 24: 737 bought or addedQ1 24: 930 cut or sold outQ1 24Q2 24: 828 bought or addedQ2 24: 876 cut or sold outQ3 24: 981 bought or addedQ3 24: 762 cut or sold outQ3 24Q4 24: 952 bought or addedQ4 24: 870 cut or sold outQ1 25: 1,257 bought or addedQ1 25: 864 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023793785
Q3 2023572921
Q4 2023731840
Q1 2024737930
Q2 2024828876
Q3 2024981762
Q4 2024952870
Q1 20251,257864

Calls vs puts

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

CallsPuts
$0$10bn$20bn$30bn$40bnQ2 24 calls: $26.3bnQ2 24 puts: $17.0bnQ2 24P/C 0.65Q3 24 calls: $33.7bnQ3 24 puts: $22.7bnQ3 24P/C 0.67Q4 24 calls: $32.3bnQ4 24 puts: $21.7bnQ4 24P/C 0.67Q1 25 calls: $38.0bnQ1 25 puts: $27.3bnQ1 25P/C 0.72
Numbers
QuarterCallsPutsP/C
Q2 2024$26.3bn$17.0bn0.65
Q3 2024$33.7bn$22.7bn0.67
Q4 2024$32.3bn$21.7bn0.67
Q1 2025$38.0bn$27.3bn0.72

Biggest buyers

UBS Group AG Added +2,021,106+2.0m
BlackRock, Inc. Added +1,540,541+1.5m
MORGAN STANLEY Added +1,430,838+1.4m
Bridgewater Associates, LP New +1,106,395+1.1m
GOLDMAN SACHS GROUP INC Added +680,189+680.2k
JPMORGAN CHASE & CO Added +664,185+664.2k
59 North Capital Management, LP Added +547,018+547.0k
LPL Financial LLC Added +464,369+464.4k
BANK OF AMERICA CORP /DE/ Added +458,445+458.4k
BANK OF MONTREAL /CAN/ Added +384,689+384.7k

Biggest sellers

TORONTO DOMINION BANK Reduced -2,354,796-2.4m
CITIGROUP INC Reduced -1,181,925-1.2m
JANE STREET GROUP, LLC Reduced -1,100,000-1.1m
BARCLAYS PLC Reduced -591,595-591.6k
CTC LLC Reduced -565,931-565.9k
Focus Partners Wealth Reduced -474,408-474.4k
MACKENZIE FINANCIAL CORP Reduced -285,200-285.2k
Sumitomo Mitsui Trust Group, Inc. Reduced -194,793-194.8k
MILLENNIUM MANAGEMENT LLC Reduced -170,365-170.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -166,302-166.3k

Biggest calls

JANE STREET GROUP, LLC Added $5.4bn18.6m shares
CITIGROUP INC Reduced $4.0bn13.9m shares
CTC LLC Reduced $3.2bn11.2m shares
CITADEL ADVISORS LLC Added $3.2bn11.2m shares
Optiver Holding B.V. Reduced $2.6bn8.9m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.5bn8.8m shares
BlackRock, Inc. Added $2.0bn6.9m shares
Jefferies Financial Group Inc. Added $1.9bn6.7m shares
JPMORGAN CHASE & CO Reduced $1.8bn6.1m shares
SIMPLEX TRADING, LLC Added $1.7bn5.7m shares

Biggest puts

JANE STREET GROUP, LLC Added $4.6bn16.0m shares
CITADEL ADVISORS LLC Added $2.8bn9.6m shares
Optiver Holding B.V. Added $2.8bn9.6m shares
CTC LLC Added $2.7bn9.2m shares
Twin Tree Management, LP Reduced $2.2bn7.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.8bn6.4m shares
SIMPLEX TRADING, LLC Added $1.3bn4.4m shares
IMC-Chicago, LLC Added $1.2bn4.0m shares
JPMORGAN CHASE & CO Reduced $927.6m3.2m shares
Belvedere Trading LLC Reduced $882.7m3.1m 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 Q1 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 Q1 2025.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.26% of their portfolio NEW YORK, NY 12,384,17212.4m $3.6bn $3.6bn 0.26% Added +1.4m +1,430,838
2 BANK OF AMERICA CORP /DE/ 0.29% of their portfolio CHARLOTTE, NC 11,369,97711.4m $3.3bn $3.3bn 0.29% Added +458.4k +458,445
3 UBS Group AG 0.52% of their portfolio ZURICH, V8 8,078,2698.1m $2.3bn $2.3bn 0.52% Added +2.0m +2,021,106
4 WELLS FARGO & COMPANY/MN 0.30% of their portfolio SAN FRANCISCO, CA 4,352,1494.4m $1.3bn $1.3bn 0.30% Added +307.0k +306,952
5 LPL Financial LLC 0.44% of their portfolio FORT MILL, SC 3,912,4353.9m $1.1bn $1.1bn 0.44% Added +464.4k +464,369
6 BlackRock, Inc. 0.02% of their portfolio New York, NY 3,543,3243.5m $1.0bn $1.0bn 0.02% Added +1.5m +1,540,541
7 First Eagle Investment Management, LLC 1.91% of their portfolio NEW YORK, NY 3,145,8963.1m $903.7m $903.7m 1.91% Reduced -51.9k -51,880
8 RAYMOND JAMES FINANCIAL INC 0.22% of their portfolio ST. PETERSBURG, FL 2,063,6342.1m $594.6m $594.6m 0.22% Added +204.7k +204,676
9 ROYAL BANK OF CANADA 0.13% of their portfolio TORONTO, A6 1,952,2952.0m $562.5m $562.5m 0.13% Added +218.3k +218,260
10 GOLDMAN SACHS GROUP INC 0.10% of their portfolio NEW YORK, NY 1,915,9251.9m $552.1m $552.1m 0.10% Added +680.2k +680,189
11 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 1,727,0041.7m $497.6m $497.6m 0.04% Added +664.2k +664,185
12 HighTower Advisors, LLC 0.63% of their portfolio CHICAGO, IL 1,604,9241.6m $462.4m $462.4m 0.63% Reduced -40.8k -40,843
13 AMERIPRISE FINANCIAL INC 0.12% of their portfolio MINNEAPOLIS, MN 1,556,6981.6m $450.9m $450.9m 0.12% Added +169.0k +169,005
14 JANE STREET GROUP, LLC 0.73% of their portfolio NEW YORK, NY 1,412,6031.4m $407.0m $407.0m 0.73% Reduced -1.1m -1,100,000
15 BNP PARIBAS FINANCIAL MARKETS 0.30% of their portfolio PARIS, I0 1,380,2731.4m $397.7m $397.7m 0.30% First filing
16 Comprehensive Financial Management LLC 11.50% of their portfolio Los Gatos, CA 1,267,5291.3m $365.2m $365.2m 11.50% Reduced -3.6k -3,625
17 59 North Capital Management, LP 13.11% of their portfolio Houston, TX 1,263,1961.3m $364.0m $364.0m 13.11% Added +547.0k +547,018
18 Pureheart Capital Pte Ltd. 52.45% of their portfolio SINGAPORE, U0 1,225,0001.2m $353.0m $353.0m 52.45% Reduced -16.0k -16,000
19 ENVESTNET ASSET MANAGEMENT INC 0.11% of their portfolio Berwyn, PA 1,217,8611.2m $350.9m $350.9m 0.11% Added +106.6k +106,648
20 COMMONWEALTH EQUITY SERVICES, LLC 0.47% of their portfolio WALTHAM, MA 1,141,7031.1m $329.0m $329.0m 0.47% Added +161.6k +161,638
21 Bridgewater Associates, LP 1.48% of their portfolio Westport, CT 1,106,3951.1m $318.8m $318.8m 1.48% New
22 CITIGROUP INC 0.22% of their portfolio NEW YORK, NY 989,394989.4k $285.1m $285.1m 0.22% Reduced -1.2m -1,181,925
23 Orbis Allan Gray Ltd 1.57% of their portfolio HamiltoN, D0 951,603951.6k $274.2m $274.2m 1.57% Reduced -19.5k -19,469
24 WealthNavi Inc. 2.82% of their portfolio Shinagawa-ku, TOKYO, M0 880,806880.8k $253.8m $253.8m 2.82% Reduced -102.0k -101,992
25 STIFEL FINANCIAL CORP 0.26% of their portfolio ST. LOUIS, MO 835,070835.1k $240.6m $240.6m 0.26% Added +5.1k +5,115
26 Cetera Investment Advisers 0.46% of their portfolio SCHAUMBURG, IL 821,760821.8k $236.8m $236.8m 0.46% Added +107.5k +107,469
27 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 806,837806.8k $232.5m $232.5m 0.01% Added +47.3k +47,334
28 US BANCORP \DE\ 0.29% of their portfolio MINNEAPOLIS, MN 765,057765.1k $220.4m $220.4m 0.29% Added +69.9k +69,939
29 Rockefeller Capital Management L.P. 0.53% of their portfolio NEW YORK, NY 740,408740.4k $213.3m $213.3m 0.53% Added +45.3k +45,325
30 Arizona PSPRS Trust 7.09% of their portfolio PHOENIX, AZ 725,752725.8k $209.1m $209.1m 7.09% Added +1.7k +1,700
31 BANK OF MONTREAL /CAN/ 0.11% of their portfolio TORONTO, A6 724,306724.3k $208.7m $208.7m 0.11% Added +384.7k +384,689
32 OSAIC HOLDINGS, INC. 0.46% of their portfolio SCOTTSDALE, AZ 723,717723.7k $208.5m $208.5m 0.46% Added +65.6k +65,568
33 NORTHERN TRUST CORP 0.03% of their portfolio CHICAGO, IL 678,018678.0k $195.4m $195.4m 0.03% Added +21.8k +21,759
34 PNC Financial Services Group, Inc. 0.10% of their portfolio Pittsburgh, PA 667,815667.8k $192.4m $192.4m 0.10% Added +45.1k +45,063
35 BARCLAYS PLC 0.09% of their portfolio LONDON, X0 656,427656.4k $189.1m $189.1m 0.09% Reduced -591.6k -591,595
36 SG Americas Securities, LLC 0.61% of their portfolio NEW YORK, NY 616,882616.9k $177.7m $177.7m 0.61% Reduced -16.4k -16,374
37 Cambridge Investment Research Advisors, Inc. 0.59% of their portfolio FAIRFIELD, IA 608,222608.2k $175.3m $175.3m 0.59% Added +68.1k +68,142
38 Mizuho Bank, Ltd. 39.03% of their portfolio TOKYO, M0 600,000600.0k $172.9m $172.9m 39.03% Unchanged
39 TRUIST FINANCIAL CORP 0.27% of their portfolio CHARLOTTE, NC 576,278576.3k $166.0m $166.0m 0.27% Added +56.4k +56,443
40 PPSC Investment Service Corp 17.25% of their portfolio TOKYO, M0 523,152523.2k $150.7m $150.7m 17.25% Added +64.0k +63,966
41 Corient Private Wealth LP 0.24% of their portfolio MIAMI, FL 517,723517.7k $149.2m $149.2m 0.24% Reduced -16.7k -16,715
42 Arnhold LLC 14.78% of their portfolio New York, NY 507,875507.9k $146.3m $146.3m 14.78% Reduced -11.3k -11,334
43 GLOBALT Investments LLC / GA 5.85% of their portfolio Atlanta, GA 496,516496.5k $143.1m $143.1m 5.85% Reduced -107.9k -107,855
44 Bleichroeder LP 36.47% of their portfolio NEW YORK, NY 475,000475.0k $136.9m $136.9m 36.47% Unchanged
45 AlTi Global, Inc. 3.55% of their portfolio NEW YORK, NY 469,814469.8k $135.4m $135.4m 3.55% Added +35.3k +35,290
46 Sequoia Financial Advisors, LLC 1.00% of their portfolio Akron, OH 447,351447.4k $128.9m $128.9m 1.00% Reduced -12.6k -12,609
47 Cerity Partners LLC 0.26% of their portfolio NEW YORK, NY 442,205442.2k $127.4m $127.4m 0.26% Added +2.2k +2,192
48 Mariner, LLC 0.21% of their portfolio Overland Park, KS 441,820441.8k $127.3m $127.3m 0.21% Added +170.3k +170,314
49 MML INVESTORS SERVICES, LLC 0.41% of their portfolio SPRINGFIELD, MA 429,641429.6k $123.8m $123.8m 0.41% Added +62.1k +62,147
50 SUMITOMO MITSUI FINANCIAL GROUP, INC. 2.27% of their portfolio TOKYO, M0 429,585429.6k $123.8m $123.8m 2.27% Added +29.6k +29,634
51 Mitsubishi UFJ Trust & Banking Corp 0.32% of their portfolio TOKYO, M0 421,700421.7k $121.5m $121.5m 0.32% Reduced -87.5k -87,500
52 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.10% of their portfolio MILWAUKEE, WI 403,701403.7k $116.3m $116.3m 0.10% Reduced -15.2k -15,215
53 Proficio Capital Partners LLC 7.67% of their portfolio NEWTON, MA 359,373359.4k $99.2m $99.2m 7.67% Added +14.8k +14,763
54 CWM, LLC 0.41% of their portfolio OMAHA, NE 358,274358.3k $103.2m $103.2m 0.41% Added +71.1k +71,125
55 Stenham Asset Management Ltd 40.88% of their portfolio GUERNSEY, Y7 348,579348.6k $100.4m $100.4m 40.88% First filing
56 Allen Investment Management, LLC 1.17% of their portfolio NEW YORK, NY 348,085348.1k $100.3m $100.3m 1.17% Added +158.9k +158,886
57 ROCKLAND TRUST CO 4.96% of their portfolio HANOVER, MA 342,785342.8k $98.8m $98.8m 4.96% Reduced -14.4k -14,427
58 FIL Ltd 0.09% of their portfolio HAMILTON, D0 341,543341.5k $98.5m $98.5m 0.09% Added +221.2k +221,233
59 TUDOR INVESTMENT CORP ET AL 0.87% of their portfolio STAMFORD, CT 337,376337.4k $97.2m $97.2m 0.87% Added +186.7k +186,681
60 Squarepoint Ops LLC 0.24% of their portfolio NEW YORK, NY 334,290334.3k $96.3m $96.3m 0.24% Added +312.7k +312,732
61 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.96% of their portfolio Madrid, U3 334,112334.1k $94.9m $94.9m 0.96% Added +164.1k +164,093
62 Cerity Partners OCIO LLC 5.39% of their portfolio New York, NY 330,877330.9k $95.3m $95.3m 5.39% Reduced -11.7k -11,715
63 TD Asset Management Inc 0.09% of their portfolio Toronto, A6 328,750328.8k $94.7m $94.7m 0.09% Added +196.6k +196,615
64 BRADLEY FOSTER & SARGENT INC/CT 1.61% of their portfolio HARTFORD, CT 327,412327.4k $94.3m $94.3m 1.61% Added +20.1k +20,069
65 Starr Indemnity & Liability Co 45.66% of their portfolio NEW YORK, NY 327,188327.2k $94.3m $94.3m 45.66% Unchanged
66 BAILARD, INC. 2.40% of their portfolio Foster City, CA 323,336323.3k $93.2m $93.2m 2.40% Reduced -2.4k -2,372
67 HSBC HOLDINGS PLC 0.06% of their portfolio LONDON, X0 310,940310.9k $89.5m $89.5m 0.06% Added +55.2k +55,226
68 Baird Financial Group, Inc. 0.17% of their portfolio MILWAUKEE, WI 298,284298.3k $85.9m $85.9m 0.17% Reduced -308 -308
69 Focus Partners Wealth 0.21% of their portfolio ST LOUIS, MO 293,937293.9k $84.7m $84.7m 0.21% Reduced -474.4k -474,408
70 Kestra Advisory Services, LLC 0.41% of their portfolio AUSTIN, TX 290,454290.5k $83.7m $83.7m 0.41% Added +38.5k +38,521
71 First National Trust Co 3.32% of their portfolio Johnstown, PA 286,184286.2k $82.5m $82.5m 3.32% Reduced -6.2k -6,248
72 PRUDENTIAL PLC 0.41% of their portfolio LONDON, X0 281,879281.9k $80.4m $80.4m 0.41% Reduced -48.9k -48,850
73 VICTORY CAPITAL MANAGEMENT INC 0.08% of their portfolio San Antonio, TX 272,287272.3k $78.5m $78.5m 0.08% Reduced -22.3k -22,338
74 Cresset Asset Management, LLC 0.39% of their portfolio Chicago, IL 271,955272.0k $78.4m $78.4m 0.39% Added +27.0k +27,029
75 Foundations Investment Advisors, LLC 1.44% of their portfolio PHOENIX, AZ 270,684270.7k $78.0m $78.0m 1.44% Reduced -2.1k -2,128
76 CAPTRUST FINANCIAL ADVISORS 0.19% of their portfolio RALEIGH, NC 268,389268.4k $77.3m $77.3m 0.19% Added +18.7k +18,743
77 Diversify Advisory Services, LLC 5.12% of their portfolio SANDY, UT 267,648267.6k $81.9m $81.9m 5.12% Added +28.3k +28,293
78 Private Advisor Group, LLC 0.46% of their portfolio MORRISTOWN, NJ 263,880263.9k $76.0m $76.0m 0.46% Added +13.5k +13,460
79 Briaud Financial Planning Inc 29.39% of their portfolio COLLEGE STATION, TX 256,748256.7k $74.0m $74.0m 29.39% Reduced -22 -22
80 FACTORY MUTUAL INSURANCE CO 0.84% of their portfolio WALTHAM, MA 252,100252.1k $72.6m $72.6m 0.84% Unchanged
81 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.14% of their portfolio PLYMOUTH, MN 250,469250.5k $72.2m $72.2m 0.14% Added +50.4k +50,354
82 NATIONAL BANK OF CANADA /FI/ 0.08% of their portfolio MONTREAL, A8 249,768249.8k $72.0m $72.0m 0.08% Added +109.7k +109,670
83 BROWN ADVISORY INC 0.10% of their portfolio BALTIMORE, MD 244,228244.2k $70.4m $70.4m 0.10% Added +5.9k +5,942
84 Mesirow Financial Investment Management, Inc. 1.36% of their portfolio CHICAGO, IL 243,248243.2k $70.1m $70.1m 1.36% Added +5.3k +5,291
85 CIBC WORLD MARKET INC. 0.16% of their portfolio TORONTO, A6 241,935241.9k $69.7m $69.7m 0.16% Added +9.7k +9,742
86 Lido Advisors, LLC 0.41% of their portfolio Los Angeles, CA 241,739241.7k $69.7m $69.7m 0.41% Added +6.0k +6,006
87 Rock Creek Group LLC 7.79% of their portfolio Washington, DC 240,216240.2k $65.8m $65.8m 7.79% Added +10.4k +10,351
88 BCM ADVISORS, LLC 15.47% of their portfolio LAFAYETTE, LA 228,883228.9k $68.2m $68.2m 15.47% Reduced -4.5k -4,471
89 W1M Asset Management Ltd 5.45% of their portfolio London, X0 220,838220.8k $63.6m $63.6m 5.45% Reduced -1.5k -1,470
90 Rathbones Group PLC 0.29% of their portfolio Liverpool, X0 211,593211.6k $61.0m $61.0m 0.29% Added +1.9k +1,874
91 Janney Montgomery Scott LLC 0.17% of their portfolio PHILADELPHIA, PA 204,788204.8k $59.0m $59.0m 0.17% Added +791 +791
92 Banco Santander, S.A. 0.65% of their portfolio Madrid, U3 204,763204.8k $59.0m $59.0m 0.65% Added +8.9k +8,926
93 C V STARR & CO INC 45.40% of their portfolio NEW YORK, NY 204,493204.5k $58.9m $58.9m 45.40% Unchanged
94 SYNOVUS FINANCIAL CORP 0.76% of their portfolio Columbus, GA 203,145203.1k $58.5m $58.5m 0.76% Added +4.7k +4,665
95 NewEdge Advisors, LLC 0.35% of their portfolio NEW ORLEANS, LA 201,943201.9k $58.2m $58.2m 0.35% Added +1.5k +1,549
96 Creative Planning 0.05% of their portfolio OVERLAND PARK, KS 200,172200.2k $57.7m $57.7m 0.05% Added +20.8k +20,847
97 ArrowMark Colorado Holdings LLC 0.93% of their portfolio Denver, CO 200,000200.0k $57.6m $57.6m 0.93% Unchanged
98 MOODY LYNN LIEBERSON & WALKER, LLC 3.69% of their portfolio BOSTON, MA 199,316199.3k $57.4m $57.4m 3.69% Added +11.9k +11,914
99 DIMENSION CAPITAL MANAGEMENT LLC 9.73% of their portfolio Coral Gables, FL 190,421190.4k $54.9m $54.9m 9.73% Reduced -1.2k -1,220
100 GLENMEDE TRUST CO NA 0.29% of their portfolio PHILADELPHIA, PA 189,947189.9k $54.7m $54.7m 0.29% Added +15.2k +15,161