Vault-13

VANECK ETF TRUST GDX

GOLD MINERS ETF · ETP · CUSIP 92189F106 · ISIN US92189F1066

703 institutional holders +82 vs Q3 2022
203,372,376203.4m shares reported held*
$5.9bnreported value*
124 new 226 added 205 reduced 67 sold out net bought ≈ $199.3m (+7.1m 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 ($9.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $28.81. Options: 72 managers hold calls ($4.1bn notional), 38 hold puts ($1.2bn).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 621Q4 22: 703703Q3 22Q4 22
Numbers
QuarterHolders
Q3 2022621
Q4 2022703

Calls vs puts

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

CallsPuts
$0$2bn$4bn$6bnQ3 22 calls: $2.9bnQ3 22 puts: $1.1bnQ3 22P/C 0.38Q4 22 calls: $4.1bnQ4 22 puts: $1.2bnQ4 22P/C 0.31
Numbers
QuarterCallsPutsP/C
Q3 2022$2.9bn$1.1bn0.38
Q4 2022$4.1bn$1.2bn0.31

Biggest buyers

SPX Gestao de Recursos Ltda New +3,997,000+4.0m
NATIONAL BANK OF CANADA /FI/ Added +3,328,325+3.3m
BANK OF AMERICA CORP /DE/ Added +2,943,886+2.9m
CITADEL ADVISORS LLC Added +2,395,010+2.4m
SYNOVUS FINANCIAL CORP Added +2,175,655+2.2m
WELLINGTON MANAGEMENT GROUP LLP Added +2,113,176+2.1m
Twin Tree Management, LP Added +1,622,260+1.6m
Slate Path Capital LP Added +1,455,000+1.5m
Phoenix Financial Ltd. New +1,415,000+1.4m
UBS Group AG Added +1,236,476+1.2m

Biggest sellers

JANE STREET GROUP, LLC Reduced -3,168,265-3.2m
TWO SIGMA INVESTMENTS, LP Reduced -2,553,400-2.6m
TWO SIGMA ADVISERS, LP Sold out -2,366,200-2.4m
MORGAN STANLEY Reduced -2,023,924-2.0m
Desjardins Global Asset Management Inc. Reduced -1,573,127-1.6m
HRT FINANCIAL LP Reduced -1,342,353-1.3m
GOLDMAN SACHS GROUP INC Reduced -1,273,693-1.3m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -1,257,863-1.3m
Laurion Capital Management LP Sold out -1,200,000-1.2m
Kopernik Global Investors, LLC Reduced -1,130,076-1.1m

Biggest calls

Twin Tree Management, LP Added $660.7m4.3m shares
GOLDMAN SACHS GROUP INC Added $371.6m13.0m shares
JANE STREET GROUP, LLC Reduced $330.3m7.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $272.5m9.5m shares
BANK OF AMERICA CORP /DE/ Added $231.4m8.1m shares
BARCLAYS PLC First filing $205.1m7.2m shares
UBS Group AG Added $199.2m6.9m shares
CITADEL ADVISORS LLC Added $170.0m5.9m shares
CTC LLC Added $143.4m7.1k shares
CMT Capital Markets Trading GmbH Added $143.2m2.7m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $341.8m11.9m shares
CITADEL ADVISORS LLC Added $194.1m6.8m shares
BNP PARIBAS FINANCIAL MARKETS Reduced $121.5m42.4k shares
UBS Group AG Reduced $106.6m3.7m shares
GOLDMAN SACHS GROUP INC Added $67.4m2.4m shares
BANK OF AMERICA CORP /DE/ Reduced $55.9m1.9m shares
BARCLAYS PLC First filing $54.9m1.9m shares
Deer Park Road Corp New $43.0m1.5m shares
Squarepoint Ops LLC Added $29.3m962.9k shares
Qube Research & Technologies Ltd Unchanged $28.7m1.0m 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 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.06% of their portfolio CHARLOTTE, NC 16,859,83316.9m $483.2m $483.2m 0.06% Added +2.9m +2,943,886
2 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 10,390,26710.4m $297.8m $297.8m 0.03% Reduced -2.0m -2,023,924
3 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.58% of their portfolio BALA CYNWYD, PA 10,350,26210.4m $296.6m $296.6m 0.58% Reduced -1.3m -1,257,863
4 UBS Group AG 0.13% of their portfolio ZURICH, V8 9,461,2229.5m $271.2m $271.2m 0.13% Added +1.2m +1,236,476
5 Slate Path Capital LP 13.50% of their portfolio New York, NY 8,755,0008.8m $250.9m $250.9m 13.50% Added +1.5m +1,455,000
6 Rafferty Asset Management, LLC 1.95% of their portfolio New York, NY 8,119,0508.1m $232.7m $232.7m 1.95% Reduced -192.4k -192,405
7 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 7,966,5938.0m $228.3m $228.3m 0.03% Reduced -23.0k -23,035
8 Caisse de depot et placement du Quebec 0.64% of their portfolio Montreal, A8 7,219,5547.2m $206.9m $206.9m 0.64% Reduced -119.7k -119,701
9 BANK OF MONTREAL /CAN/ 0.07% of their portfolio TORONTO, A6 5,143,7235.1m $153.0m $153.0m 0.07% Reduced -972.2k -972,202
10 WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio Boston, MA 4,611,1014.6m $132.2m $132.2m 0.03% Added +2.1m +2,113,176
11 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 4,504,5864.5m $129.1m $129.1m 0.04% Reduced -1.3m -1,273,693
12 SPX Gestao de Recursos Ltda 12.82% of their portfolio RIO DE JANEIRO, D5 3,997,0004.0m $114.6m $114.6m 12.82% New
13 CITADEL ADVISORS LLC 0.12% of their portfolio MIAMI, FL 3,755,7833.8m $107.6m $107.6m 0.12% Added +2.4m +2,395,010
14 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 3,594,7263.6m $103.0m $103.0m 0.03% Added +188.9k +188,896
15 NATIONAL BANK OF CANADA /FI/ 0.26% of their portfolio MONTREAL, A8 3,352,7083.4m $96.0m $96.0m 0.26% Added +3.3m +3,328,325
16 CITIGROUP INC 0.13% of their portfolio NEW YORK, NY 3,258,4173.3m $93.4m $93.4m 0.13% Reduced -246.3k -246,273
17 MOORE CAPITAL MANAGEMENT, LP 2.10% of their portfolio NEW YORK, NY 2,586,6692.6m $74.1m $74.1m 2.10% Added +296.7k +296,669
18 LPL Financial LLC 0.06% of their portfolio FORT MILL, SC 2,459,7382.5m $70.5m $70.5m 0.06% Added +276.2k +276,223
19 1832 Asset Management L.P. 0.14% of their portfolio TORONTO, A6 2,413,8122.4m $69.2m $69.2m 0.14% Reduced -460.1k -460,096
20 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 2,355,2462.4m $67.5m $67.5m 0.02% Added +387.0k +387,009
21 SYNOVUS FINANCIAL CORP 0.74% of their portfolio Columbus, GA 2,255,5702.3m $64.6m $64.6m 0.74% Added +2.2m +2,175,655
22 BARCLAYS PLC 0.05% of their portfolio LONDON, X0 2,168,3532.2m $62.1m $62.1m 0.05% First filing
23 CREDIT SUISSE AG/ 0.06% of their portfolio ZURICH, V8 2,086,0532.1m $59.8m $59.8m 0.06% Added +867.1k +867,126
24 Twin Tree Management, LP 1.77% of their portfolio DALLAS, TX 2,003,9312.0m $57.4m $57.4m 1.77% Added +1.6m +1,622,260
25 JANE STREET GROUP, LLC 0.11% of their portfolio NEW YORK, NY 1,949,5951.9m $55.9m $55.9m 0.11% Reduced -3.2m -3,168,265
26 TORONTO DOMINION BANK 0.08% of their portfolio TORONTO, ONTARIO, A6 1,749,0831.7m $50.1m $50.1m 0.08% Reduced -180.2k -180,241
27 BNP PARIBAS FINANCIAL MARKETS 0.12% of their portfolio PARIS, I0 1,713,6961.7m $49.1m $49.1m 0.12% Reduced -451.8k -451,842
28 GUGGENHEIM CAPITAL LLC 0.40% of their portfolio CHICAGO, IL 1,592,9901.6m $45.7m $45.7m 0.40% Reduced -5.0k -5,050
29 Annex Advisory Services, LLC 2.49% of their portfolio BROOKFIELD, WI 1,545,2331.5m $44.3m $44.3m 2.49% Reduced -82.2k -82,159
30 New Harbor Financial Group, LLC 20.21% of their portfolio WORCESTER, MA 1,523,6321.5m $43.7m $43.7m 20.21% Added +59.0k +59,017
31 Phoenix Financial Ltd. 0.79% of their portfolio Givatayim, L3 1,415,0001.4m $40.6m $40.6m 0.79% New
32 TWO SIGMA INVESTMENTS, LP 0.13% of their portfolio NEW YORK, NY 1,399,8001.4m $40.1m $40.1m 0.13% Reduced -2.6m -2,553,400
33 Alaska Permanent Fund Corp 0.59% of their portfolio JUNEAU, AK 1,259,9171.3m $36.1m $36.1m 0.59% Reduced -821.1k -821,072
34 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,219,2451.2m $35.2m $35.2m 0.01% Added +192.6k +192,587
35 TEACHER RETIREMENT SYSTEM OF TEXAS 0.25% of their portfolio AUSTIN, TX 1,210,0001.2m $34.7m $34.7m 0.25% Unchanged
36 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 1,109,7221.1m $31.8m $31.8m 0.02% Added +486.9k +486,880
37 RAYMOND JAMES & ASSOCIATES 0.03% of their portfolio ST PETERSBURG, FL 1,078,8331.1m $30.9m $30.9m 0.03% Added +124.6k +124,557
38 Deer Park Road Corp 6.53% of their portfolio Steamboat Springs, CO 1,075,0001.1m $30.8m $30.8m 6.53% Unchanged
39 Desjardins Global Asset Management Inc. 4.78% of their portfolio MONTREAL, A8 1,058,0691.1m $30.3m $30.3m 4.78% Reduced -1.6m -1,573,127
40 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 969,930969.9k $27.8m $27.8m 0.04% Reduced -53.3k -53,282
41 Point72 Europe (London) LLP 6.33% of their portfolio LONDON, X0 852,341852.3k $24.4m $24.4m 6.33% Added +205.1k +205,141
42 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 832,677832.7k $23.8m $23.8m 0.03% Reduced -105.2k -105,195
43 Windmill Hill Asset Management Ltd 14.71% of their portfolio WADDESDON, X0 798,150798.1k $22.9m $22.9m 14.71% Unchanged
44 Memorial Sloan Kettering Cancer Center 69.82% of their portfolio New York, NY 738,500738.5k $21.2m $21.2m 69.82% Unchanged
45 STALEY CAPITAL ADVISERS INC 1.26% of their portfolio PITTSBURGH, PA 738,277738.3k $21.2m $21.2m 1.26% Reduced -752.5k -752,473
46 J.P. Morgan Private Wealth Advisors LLC 0.05% of their portfolio SAN FRANCISCO, CA 727,859727.9k $20.9m $20.9m 0.05% Added +114.8k +114,842
47 Qube Research & Technologies Ltd 0.12% of their portfolio LONDON, X0 690,934690.9k $19.8m $19.8m 0.12% Reduced -196.3k -196,255
48 AJ WEALTH STRATEGIES, LLC 1.01% of their portfolio NEW YORK, NY 667,380667.4k $19.1m $19.1m 1.01% Reduced -161.6k -161,619
49 Parallax Volatility Advisers, L.P. 0.49% of their portfolio San Francisco, CA 664,753664.8k $19.1m $19.1m 0.49% Added +664.8k +664,752
50 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 648,736648.7k $18.6m $18.6m 0.04% Added +175.0k +174,996
51 CQS (US), LLC 2.35% of their portfolio NEW YORK, NY 624,093624.1k $17.9m $17.9m 2.35% Unchanged
52 Nokomis Capital, L.L.C. 7.54% of their portfolio DALLAS, TX 623,328623.3k $17.9m $17.9m 7.54% Added +22.8k +22,800
53 Cadence Wealth Management LLC 15.17% of their portfolio WESTBOROUGH, MA 617,285617.3k $17.7m $17.7m 15.17% Reduced -35.5k -35,466
54 Lido Advisors, LLC 0.31% of their portfolio Los Angeles, CA 606,135606.1k $17.4m $17.4m 0.31% Added +300.3k +300,285
55 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 605,612605.6k $17.4m $17.4m 0.04% Added +48.5k +48,528
56 WS MANAGEMENT LLLP 2.63% of their portfolio JACKSONVILLE, FL 599,100599.1k $17.2m $17.2m 2.63% New
57 SG Americas Securities, LLC 0.24% of their portfolio NEW YORK, NY 569,933569.9k $16.3m $16.3m 0.24% Reduced -9.3k -9,282
58 Cambridge Investment Research Advisors, Inc. 0.08% of their portfolio FAIRFIELD, IA 559,609559.6k $16.0m $16.0m 0.08% Reduced -43.1k -43,122
59 HRT FINANCIAL LP 0.23% of their portfolio NEW YORK, NY 550,366550.4k $15.8m $15.8m 0.23% Reduced -1.3m -1,342,353
60 Baird Financial Group, Inc. 0.04% of their portfolio MILWAUKEE, WI 541,444541.4k $15.5m $15.5m 0.04% Added +56.4k +56,414
61 Hollow Brook Wealth Management LLC 7.23% of their portfolio Katonah, NY 527,007527.0k $15.1m $15.1m 7.23% Added +48.0k +47,995
62 Woodson Capital Management, LP 2.96% of their portfolio Greenwich, CT 525,000525.0k $15.0m $15.0m 2.96% New
63 Monaco Asset Management SAM 5.37% of their portfolio Monaco, O9 525,000525.0k $15.0m $15.0m 5.37% Added +50.0k +50,000
64 Beirne Wealth Consulting Services, LLC 6.11% of their portfolio SHELTON, CT 524,890524.9k $12.4m $12.4m 6.11% Added +480.1k +480,085
65 CAPTRUST FINANCIAL ADVISORS 0.08% of their portfolio RALEIGH, NC 524,366524.4k $15.0m $15.0m 0.08% Reduced -438.6k -438,551
66 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 517,714517.7k $14.9m $14.9m 0.03% Added +95.2k +95,195
67 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.27% of their portfolio New York, NY 488,715488.7k $14.0m $14.0m 0.27% Added +331.7k +331,714
68 Clearwater Capital Advisors, LLC 1.80% of their portfolio HOFFMAN ESTATES, IL 482,078482.1k $13.8m $13.8m 1.80% Reduced -6.6k -6,639
69 Janney Montgomery Scott LLC 0.05% of their portfolio PHILADELPHIA, PA 480,545480.5k $13.8m $13.8m 0.05% Added +98.0k +97,975
70 Madison Asset Management, LLC 0.21% of their portfolio MADISON, WI 459,455459.5k $13.2m $13.2m 0.21% Added +211.5k +211,520
71 EVERGREEN CAPITAL MANAGEMENT LLC 0.59% of their portfolio Bellevue, WA 439,122439.1k $12.6m $12.6m 0.59% Added +155.2k +155,249
72 Cetera Investment Advisers 0.11% of their portfolio SCHAUMBURG, IL 429,851429.9k $12.3m $12.3m 0.11% Added +137.7k +137,700
73 Squarepoint Ops LLC 0.23% of their portfolio NEW YORK, NY 425,125425.1k $34.4m $34.4m 0.23% Added +60.3k +60,267
74 Yong Rong (HK) Asset Management Ltd 7.22% of their portfolio SHEUNG WAN, K3 400,000400.0k $11.5m $11.5m 7.22% Unchanged
75 Wealth High Governance Capital Ltda 8.24% of their portfolio SAO PAULO, D5 400,000400.0k $11.5m $11.5m 8.24% First filing
76 CIBC WORLD MARKET INC. 0.05% of their portfolio TORONTO, A6 399,043399.0k $11.4m $11.4m 0.05% Added +228.0k +227,985
77 Balyasny Asset Management L.P. 0.04% of their portfolio Chicago, IL 392,224392.2k $11.2m $11.2m 0.04% Added +93.4k +93,420
78 CUMBERLAND ADVISORS INC 4.45% of their portfolio SARASOTA, FL 358,110358.1k $10.3m $10.3m 4.45% New
79 BANK OF NOVA SCOTIA 0.03% of their portfolio TORONTO, A6 355,007355.0k $10.2m $10.2m 0.03% Added +350.1k +350,072
80 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 347,525347.5k $10.0m $10.0m 0.02% Added +117.0k +117,008
81 EQUITABLE TRUST CO 0.76% of their portfolio NASHVILLE, TN 337,395337.4k $9.7m $9.7m 0.76% New
82 Graham Capital Management, L.P. 0.37% of their portfolio ROWAYTON, CT 335,000335.0k $9.6m $9.6m 0.37% New
83 GILDER GAGNON HOWE & CO LLC 0.18% of their portfolio New York, NY 334,072334.1k $9.6m $9.6m 0.18% Reduced -2.8k -2,775
84 Kopernik Global Investors, LLC 0.93% of their portfolio TAMPA, FL 321,592321.6k $9.2m $9.2m 0.93% Reduced -1.1m -1,130,076
85 AVALON CAPITAL MANAGEMENT 4.61% of their portfolio Port Of Redwood City, CA 319,686319.7k $9.2m $9.2m 4.61% Added +247.1k +247,082
86 Q3 Asset Management 5.84% of their portfolio BIRMINGHAM, MI 301,076301.1k $8.6m $8.6m 5.84% New
87 SHUFRO ROSE & CO LLC 0.72% of their portfolio NEW YORK, NY 297,666297.7k $8.5m $8.5m 0.72% Added +281.9k +281,874
88 VAN ECK ASSOCIATES CORP 0.02% of their portfolio NEW YORK, NY 293,302293.3k $8.4m $8.4m 0.02% Added +62.4k +62,359
89 BLAIR WILLIAM & CO/IL 0.04% of their portfolio CHICAGO, IL 290,968291.0k $8.3m $8.3m 0.04% Added +30.3k +30,251
90 Jefferies Financial Group Inc. 0.14% of their portfolio NEW YORK, NY 285,000285.0k $8.2m $8.2m 0.14% New
91 Raymond James Financial Services Advisors, Inc. 0.02% of their portfolio ST. PETERSBURG, FL 281,066281.1k $8.1m $8.1m 0.02% Added +5.0k +5,026
92 Engrave Wealth Partners LLC 3.04% of their portfolio SPRING, TX 280,209280.2k $8.7m $8.7m 3.04% Added +113.0k +113,046
93 Forest Hill Capital, LLC 3.38% of their portfolio LITTLE ROCK, AR 279,500279.5k $8.0m $8.0m 3.38% Unchanged
94 Cetera Advisors LLC 0.14% of their portfolio DENVER, CO 276,641276.6k $7.9m $7.9m 0.14% Added +26.1k +26,092
95 Bridge Advisory, LLC 3.28% of their portfolio PASADENA, CA 274,137274.1k $7.9m $7.9m 3.28% Reduced -25 -25
96 BRADLEY FOSTER & SARGENT INC/CT 0.19% of their portfolio HARTFORD, CT 268,789268.8k $7.7m $7.7m 0.19% Added +135.7k +135,746
97 CW Advisors, LLC 0.19% of their portfolio BOSTON, MA 260,383260.4k $7.5m $7.5m 0.19% Reduced -52.1k -52,101
98 Mader & Shannon Wealth Management, Inc. 4.88% of their portfolio KANSAS CITY, MO 257,512257.5k $7.4m $7.4m 4.88% New
99 Capricorn Fund Managers Ltd 1.86% of their portfolio LONDON, X0 254,000254.0k $7.3m $7.3m 1.86% Unchanged
100 MSH Capital Advisors LLC 3.27% of their portfolio SCOTTSDALE, AZ 252,313252.3k $7.2m $7.2m 3.27% Added +25.2k +25,243