Vault-13

SPDR GOLD TR GLD

GOLD SHS · ETP · CUSIP 78463V107 · ISIN US78463V1070

Exchange-traded fund

2,662 institutional holders +75 vs Q1 2025
138,576,389138.6m shares reported held*
$41.6bnreported value*
165 new 963 added 955 reduced 92 sold out net bought ≈ $494.9m (+3.6m 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 ($98.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $300.54. Options: 97 managers hold calls ($45.9bn notional), 89 hold puts ($30.0bn).

Trends to Q2 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: 2,587Q2 25: 2,6622,662Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 20252,662

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ3 23: 572 bought or addedQ3 23: 921 cut or sold outQ4 23: 731 bought or addedQ4 23: 840 cut or sold outQ4 23Q1 24: 737 bought or addedQ1 24: 930 cut or sold outQ2 24: 828 bought or addedQ2 24: 876 cut or sold outQ2 24Q3 24: 981 bought or addedQ3 24: 762 cut or sold outQ4 24: 952 bought or addedQ4 24: 870 cut or sold outQ4 24Q1 25: 1,257 bought or addedQ1 25: 864 cut or sold outQ2 25: 1,128 bought or addedQ2 25: 1,047 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023572921
Q4 2023731840
Q1 2024737930
Q2 2024828876
Q3 2024981762
Q4 2024952870
Q1 20251,257864
Q2 20251,1281,047

Calls vs puts

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

CallsPuts
$0$20bn$40bn$60bnQ3 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 0.72Q2 25 calls: $45.9bnQ2 25 puts: $30.0bnQ2 25P/C 0.65
Numbers
QuarterCallsPutsP/C
Q3 2024$33.7bn$22.7bn0.67
Q4 2024$32.3bn$21.7bn0.67
Q1 2025$38.0bn$27.3bn0.72
Q2 2025$45.9bn$30.0bn0.65

Biggest buyers

ROYAL BANK OF CANADA Added +2,716,327+2.7m
Proficio Capital Partners LLC Added +1,995,397+2.0m
GOLDMAN SACHS GROUP INC Added +1,238,725+1.2m
Rockefeller Capital Management L.P. Added +968,464+968.5k
Virtu Financial LLC New +872,580+872.6k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +825,904+825.9k
CITADEL ADVISORS LLC New +801,305+801.3k
BARCLAYS PLC Added +453,017+453.0k
TD Asset Management Inc Added +356,401+356.4k
HARVARD MANAGEMENT CO INC New +333,000+333.0k

Biggest sellers

UBS Group AG Reduced -1,459,229-1.5m
59 North Capital Management, LP Sold out -1,263,196-1.3m
BlackRock, Inc. Reduced -1,022,013-1.0m
MORGAN STANLEY Reduced -849,247-849.2k
BNP PARIBAS FINANCIAL MARKETS Reduced -727,164-727.2k
BANK OF MONTREAL /CAN/ Sold out -724,306-724.3k
First Eagle Investment Management, LLC Reduced -681,116-681.1k
CITIGROUP INC Reduced -555,300-555.3k
BANK OF AMERICA CORP /DE/ Reduced -384,757-384.8k
Squarepoint Ops LLC Reduced -303,865-303.9k

Biggest calls

JANE STREET GROUP, LLC Reduced $5.4bn17.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $5.1bn16.7m shares
CTC LLC Added $4.3bn14.1m shares
Optiver Holding B.V. Added $3.9bn12.8m shares
CITADEL ADVISORS LLC Added $3.9bn12.6m shares
JPMORGAN CHASE & CO Added $3.2bn10.5m shares
Castle Hook Partners LP New $3.1bn10.3m shares
SIMPLEX TRADING, LLC Added $1.9bn6.3m shares
BlackRock, Inc. Reduced $1.9bn6.1m shares
WOLVERINE TRADING, LLC Added $1.4bn4.6m shares

Biggest puts

CTC LLC Added $3.4bn11.2m shares
JANE STREET GROUP, LLC Reduced $3.3bn10.8m shares
Optiver Holding B.V. Added $3.2bn10.5m shares
JPMORGAN CHASE & CO Added $2.7bn8.9m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.6bn8.6m shares
CITADEL ADVISORS LLC Reduced $2.4bn8.0m shares
Twin Tree Management, LP Reduced $1.6bn5.1m shares
SIMPLEX TRADING, LLC Added $1.5bn5.0m shares
IMC-Chicago, LLC Reduced $959.6m3.1m shares
WOLVERINE TRADING, LLC Added $763.3m2.5m 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 MORGAN STANLEY 0.23% of their portfolio NEW YORK, NY 11,534,92511.5m $3.5bn $3.5bn 0.23% Reduced -849.2k -849,247
2 BANK OF AMERICA CORP /DE/ 0.27% of their portfolio CHARLOTTE, NC 10,985,22011.0m $3.3bn $3.3bn 0.27% Reduced -384.8k -384,757
3 UBS Group AG 0.42% of their portfolio ZURICH, V8 6,619,0406.6m $2.0bn $2.0bn 0.42% Reduced -1.5m -1,459,229
4 ROYAL BANK OF CANADA 0.14% of their portfolio TORONTO, A6 4,668,6224.7m $1.4bn $1.4bn 0.14% Added +2.7m +2,716,327
5 LPL Financial LLC 0.43% of their portfolio FORT MILL, SC 4,234,4254.2m $1.3bn $1.3bn 0.43% Added +322.0k +321,990
6 WELLS FARGO & COMPANY/MN 0.28% of their portfolio SAN FRANCISCO, CA 4,143,5664.1m $1.3bn $1.3bn 0.28% Reduced -208.6k -208,583
7 GOLDMAN SACHS GROUP INC 0.16% of their portfolio NEW YORK, NY 3,154,6503.2m $961.6m $961.6m 0.16% Added +1.2m +1,238,725
8 BlackRock, Inc. 0.01% of their portfolio New York, NY 2,521,3112.5m $768.6m $768.6m 0.01% Reduced -1.0m -1,022,013
9 First Eagle Investment Management, LLC 1.49% of their portfolio NEW YORK, NY 2,464,7802.5m $746.5m $746.5m 1.49% Reduced -681.1k -681,116
10 Proficio Capital Partners LLC 6.85% of their portfolio NEWTON, MA 2,354,7702.4m $110.1m $110.1m 6.85% Added +2.0m +1,995,397
11 RAYMOND JAMES FINANCIAL INC 0.23% of their portfolio ST. PETERSBURG, FL 2,210,1262.2m $673.7m $673.7m 0.23% Added +146.5k +146,492
12 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 1,972,7872.0m $601.4m $601.4m 0.04% Added +245.8k +245,783
13 Rockefeller Capital Management L.P. 0.61% of their portfolio NEW YORK, NY 1,708,8721.7m $520.9m $520.9m 0.61% Added +968.5k +968,464
14 AMERIPRISE FINANCIAL INC 0.11% of their portfolio MINNEAPOLIS, MN 1,505,0751.5m $458.0m $458.0m 0.11% Reduced -51.6k -51,623
15 HighTower Advisors, LLC 0.56% of their portfolio CHICAGO, IL 1,472,9011.5m $449.0m $449.0m 0.56% Reduced -132.0k -132,023
16 JANE STREET GROUP, LLC 0.71% of their portfolio NEW YORK, NY 1,438,9991.4m $438.7m $438.7m 0.71% Added +26.4k +26,396
17 Comprehensive Financial Management LLC 10.78% of their portfolio Los Gatos, CA 1,267,5291.3m $386.4m $386.4m 10.78% Unchanged
18 ENVESTNET ASSET MANAGEMENT INC 0.11% of their portfolio Berwyn, PA 1,187,2721.2m $361.9m $361.9m 0.11% Reduced -30.6k -30,589
19 BARCLAYS PLC 0.13% of their portfolio LONDON, X0 1,109,4441.1m $338.2m $338.2m 0.13% Added +453.0k +453,017
20 Bridgewater Associates, LP 1.36% of their portfolio Westport, CT 1,106,3951.1m $337.3m $337.3m 1.36% Unchanged
21 Pureheart Capital Pte Ltd. 50.61% of their portfolio SINGAPORE, U0 1,005,0001.0m $306.4m $306.4m 50.61% Reduced -220.0k -220,000
22 COMMONWEALTH EQUITY SERVICES, LLC 0.40% of their portfolio WALTHAM, MA 989,876989.9k $301.7m $301.7m 0.40% Reduced -151.8k -151,827
23 Virtu Financial LLC 13.59% of their portfolio New York, NY 872,580872.6k $266.0m $266.0m 13.59% New
24 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 854,101854.1k $260.4m $260.4m 0.01% Added +47.3k +47,264
25 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.39% of their portfolio BALA CYNWYD, PA 838,905838.9k $255.7m $255.7m 0.39% Added +825.9k +825,904
26 STIFEL FINANCIAL CORP 0.25% of their portfolio ST. LOUIS, MO 831,747831.7k $253.5m $253.5m 0.25% Reduced -3.3k -3,323
27 Orbis Allan Gray Ltd 1.20% of their portfolio HamiltoN, D0 810,205810.2k $247.0m $247.0m 1.20% Reduced -141.4k -141,398
28 CITADEL ADVISORS LLC 0.21% of their portfolio MIAMI, FL 801,305801.3k $244.3m $244.3m 0.21% New
29 WealthNavi Inc. 2.39% of their portfolio Shinagawa-ku, TOKYO, M0 777,717777.7k $237.1m $237.1m 2.39% Reduced -103.1k -103,089
30 Cetera Investment Advisers 0.40% of their portfolio SCHAUMBURG, IL 770,634770.6k $234.9m $234.9m 0.40% Reduced -51.1k -51,126
31 US BANCORP \DE\ 0.29% of their portfolio MINNEAPOLIS, MN 767,160767.2k $233.9m $233.9m 0.29% Added +2.1k +2,103
32 OSAIC HOLDINGS, INC. 0.41% of their portfolio SCOTTSDALE, AZ 749,134749.1k $228.2m $228.2m 0.41% Added +25.4k +25,417
33 SG Americas Securities, LLC 0.99% of their portfolio NEW YORK, NY 736,710736.7k $224.6m $224.6m 0.99% Added +119.8k +119,828
34 Arizona PSPRS Trust 7.33% of their portfolio PHOENIX, AZ 724,052724.1k $220.7m $220.7m 7.33% Reduced -1.7k -1,700
35 Mizuho Bank, Ltd. 21.56% of their portfolio TOKYO, M0 720,000720.0k $219.5m $219.5m 21.56% Added +120.0k +120,000
36 NORTHERN TRUST CORP 0.03% of their portfolio CHICAGO, IL 707,868707.9k $215.8m $215.8m 0.03% Added +29.9k +29,850
37 TD Asset Management Inc 0.18% of their portfolio Toronto, A6 685,151685.2k $208.9m $208.9m 0.18% Added +356.4k +356,401
38 PNC Financial Services Group, Inc. 0.13% of their portfolio Pittsburgh, PA 673,776673.8k $205.4m $205.4m 0.13% Added +6.0k +5,961
39 BNP PARIBAS FINANCIAL MARKETS 0.15% of their portfolio PARIS, I0 653,109653.1k $199.1m $199.1m 0.15% Reduced -727.2k -727,164
40 PPSC Investment Service Corp 16.76% of their portfolio TOKYO, M0 589,232589.2k $179.6m $179.6m 16.76% Added +66.1k +66,080
41 TRUIST FINANCIAL CORP 0.26% of their portfolio CHARLOTTE, NC 571,845571.8k $174.3m $174.3m 0.26% Reduced -4.4k -4,433
42 Cambridge Investment Research Advisors, Inc. 0.51% of their portfolio FAIRFIELD, IA 545,331545.3k $166.2m $166.2m 0.51% Reduced -62.9k -62,891
43 Corient Private Wealth LP 0.22% of their portfolio MIAMI, FL 533,382533.4k $162.2m $162.2m 0.22% Added +15.7k +15,659
44 Starr Indemnity & Liability Co 56.29% of their portfolio NEW YORK, NY 504,418504.4k $153.8m $153.8m 56.29% Added +177.2k +177,230
45 Mitsubishi UFJ Trust & Banking Corp 0.35% of their portfolio TOKYO, M0 490,100490.1k $149.4m $149.4m 0.35% Added +68.4k +68,400
46 Arnhold LLC 13.51% of their portfolio New York, NY 487,875487.9k $148.2m $148.2m 13.51% Reduced -20.0k -20,000
47 Sequoia Financial Advisors, LLC 1.00% of their portfolio Akron, OH 478,370478.4k $145.8m $145.8m 1.00% Added +31.0k +31,019
48 SUMITOMO MITSUI FINANCIAL GROUP, INC. 2.38% of their portfolio TOKYO, M0 477,869477.9k $145.7m $145.7m 2.38% Added +48.3k +48,284
49 Bleichroeder LP 35.59% of their portfolio NEW YORK, NY 475,000475.0k $144.8m $144.8m 35.59% Unchanged
50 Mariner, LLC 0.20% of their portfolio Overland Park, KS 455,981456.0k $139.0m $139.0m 0.20% Added +14.2k +14,161
51 MML INVESTORS SERVICES, LLC 0.39% of their portfolio SPRINGFIELD, MA 448,753448.8k $136.8m $136.8m 0.39% Added +19.1k +19,112
52 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.10% of their portfolio MILWAUKEE, WI 440,634440.6k $134.3m $134.3m 0.10% Added +36.9k +36,933
53 CITIGROUP INC 0.09% of their portfolio NEW YORK, NY 434,094434.1k $132.3m $132.3m 0.09% Reduced -555.3k -555,300
54 Cerity Partners LLC 0.23% of their portfolio NEW YORK, NY 426,750426.8k $130.1m $130.1m 0.23% Reduced -15.5k -15,455
55 BRADLEY FOSTER & SARGENT INC/CT 1.99% of their portfolio HARTFORD, CT 416,251416.3k $126.9m $126.9m 1.99% Added +88.8k +88,839
56 C V STARR & CO INC 60.46% of their portfolio NEW YORK, NY 381,723381.7k $116.4m $116.4m 60.46% Added +177.2k +177,230
57 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 1.04% of their portfolio Madrid, U3 378,973379.0k $114.6m $114.6m 1.04% Added +44.9k +44,861
58 AlTi Global, Inc. 2.89% of their portfolio NEW YORK, NY 376,663376.7k $115.2m $115.2m 2.89% Reduced -93.2k -93,151
59 Allen Investment Management, LLC 1.22% of their portfolio NEW YORK, NY 368,166368.2k $112.2m $112.2m 1.22% Added +20.1k +20,081
60 Focus Partners Wealth 0.24% of their portfolio ST LOUIS, MO 361,443361.4k $110.2m $110.2m 0.24% Added +67.5k +67,506
61 Stenham Asset Management Ltd 46.26% of their portfolio GUERNSEY, Y7 348,162348.2k $106.1m $106.1m 46.26% Reduced -417 -417
62 CWM, LLC 0.37% of their portfolio OMAHA, NE 347,208347.2k $105.8m $105.8m 0.37% Reduced -11.1k -11,066
63 HARVARD MANAGEMENT CO INC 7.07% of their portfolio BOSTON, MA 333,000333.0k $101.5m $101.5m 7.07% New
64 Quadrature Capital Ltd 1.72% of their portfolio LONDON, X0 328,060328.1k $100.0m $100.0m 1.72% New
65 ROCKLAND TRUST CO 4.78% of their portfolio HANOVER, MA 321,737321.7k $98.1m $98.1m 4.78% Reduced -21.0k -21,048
66 Kestra Advisory Services, LLC 0.47% of their portfolio AUSTIN, TX 318,386318.4k $97.1m $97.1m 0.47% Added +27.9k +27,932
67 BAILARD, INC. 2.25% of their portfolio Foster City, CA 317,261317.3k $96.7m $96.7m 2.25% Reduced -6.1k -6,075
68 Private Advisor Group, LLC 0.51% of their portfolio MORRISTOWN, NJ 309,632309.6k $94.4m $94.4m 0.51% Added +45.8k +45,752
69 GLOBALT Investments LLC / GA 3.60% of their portfolio Atlanta, GA 308,191308.2k $93.9m $93.9m 3.60% Reduced -188.3k -188,325
70 FLOW TRADERS U.S. LLC 3.43% of their portfolio NEW YORK, NY 304,814304.8k $92.9m $92.9m 3.43% Added +223.7k +223,744
71 Cerity Partners OCIO LLC 5.10% of their portfolio New York, NY 301,712301.7k $92.0m $92.0m 5.10% Reduced -29.2k -29,165
72 First National Trust Co 3.27% of their portfolio Johnstown, PA 287,106287.1k $87.5m $87.5m 3.27% Added +922 +922
73 PRUDENTIAL PLC 0.51% of their portfolio LONDON, X0 274,809274.8k $83.8m $83.8m 0.51% Reduced -7.1k -7,070
74 Baird Financial Group, Inc. 0.15% of their portfolio MILWAUKEE, WI 272,589272.6k $83.1m $83.1m 0.15% Reduced -25.7k -25,695
75 Banco Santander, S.A. 0.77% of their portfolio Madrid, U3 266,893266.9k $81.4m $81.4m 0.77% Added +62.1k +62,130
76 Fullerton Fund Management Co Ltd. 3.17% of their portfolio SINGAPORE, U0 256,732256.7k $78.3m $78.3m 3.17% Added +118.5k +118,455
77 FACTORY MUTUAL INSURANCE CO 0.84% of their portfolio WALTHAM, MA 252,100252.1k $76.8m $76.8m 0.84% Unchanged
78 Lido Advisors, LLC 0.40% of their portfolio Los Angeles, CA 248,641248.6k $75.8m $75.8m 0.40% Added +6.9k +6,902
79 DRW Securities, LLC 5.28% of their portfolio CHICAGO, IL 246,570246.6k $75.2m $75.2m 5.28% Added +194.2k +194,217
80 Diversify Advisory Services, LLC 2.90% of their portfolio SANDY, UT 245,968246.0k $75.8m $75.8m 2.90% Reduced -21.7k -21,680
81 CAPTRUST FINANCIAL ADVISORS 0.17% of their portfolio RALEIGH, NC 245,266245.3k $74.8m $74.8m 0.17% Reduced -23.1k -23,123
82 FIL Ltd 0.06% of their portfolio HAMILTON, D0 242,843242.8k $74.0m $74.0m 0.06% Reduced -98.7k -98,700
83 NewEdge Advisors, LLC 0.38% of their portfolio NEW ORLEANS, LA 242,398242.4k $73.9m $73.9m 0.38% Added +40.5k +40,455
84 Cresset Asset Management, LLC 0.37% of their portfolio Chicago, IL 241,544241.5k $73.6m $73.6m 0.37% Reduced -30.4k -30,411
85 Foundations Investment Advisors, LLC 1.14% of their portfolio PHOENIX, AZ 236,863236.9k $72.2m $72.2m 1.14% Reduced -33.8k -33,821
86 CIBC WORLD MARKET INC. 0.16% of their portfolio TORONTO, A6 235,527235.5k $71.8m $71.8m 0.16% Reduced -6.4k -6,408
87 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.12% of their portfolio PLYMOUTH, MN 235,503235.5k $72.3m $72.3m 0.12% Reduced -15.0k -14,966
88 VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio San Antonio, TX 232,741232.7k $70.9m $70.9m 0.05% Reduced -39.5k -39,546
89 BROWN ADVISORY INC 0.09% of their portfolio BALTIMORE, MD 232,073232.1k $70.7m $70.7m 0.09% Reduced -12.2k -12,155
90 BCM ADVISORS, LLC 14.88% of their portfolio LAFAYETTE, LA 228,182228.2k $69.9m $69.9m 14.88% Reduced -701 -701
91 Capitolis Liquid Global Markets LLC 0.49% of their portfolio NEW YORK, NY 221,525221.5k $67.5m $67.5m 0.49% New
92 W1M Asset Management Ltd 5.09% of their portfolio London, X0 220,166220.2k $67.1m $67.1m 5.09% Reduced -672 -672
93 TUDOR INVESTMENT CORP ET AL 0.50% of their portfolio STAMFORD, CT 215,359215.4k $65.6m $65.6m 0.50% Reduced -122.0k -122,017
94 Mesirow Financial Investment Management, Inc. 1.26% of their portfolio CHICAGO, IL 212,260212.3k $64.7m $64.7m 1.26% Reduced -31.0k -30,988
95 Rathbones Group PLC 0.27% of their portfolio Liverpool, X0 207,750207.8k $63.3m $63.3m 0.27% Reduced -3.8k -3,843
96 Sanctuary Advisors, LLC 0.39% of their portfolio INDIANAPOLIS, IN 204,465204.5k $62.3m $62.3m 0.39% Added +37.6k +37,594
97 ArrowMark Colorado Holdings LLC 1.10% of their portfolio Denver, CO 200,000200.0k $61.0m $61.0m 1.10% Unchanged
98 Atria Investments, Inc 0.71% of their portfolio Charlotte, NC 197,582197.6k $60.2m $60.2m 0.71% Added +40.6k +40,641
99 SYNOVUS FINANCIAL CORP 0.73% of their portfolio Columbus, GA 196,973197.0k $60.0m $60.0m 0.73% Reduced -6.2k -6,172
100 MOODY LYNN LIEBERSON & WALKER, LLC 3.44% of their portfolio BOSTON, MA 195,531195.5k $59.6m $59.6m 3.44% Reduced -3.8k -3,785