Vault-13

VANECK ETF TRUST GDX

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

732 institutional holders +7 vs Q1 2023
194,587,771194.6m shares reported held*
$5.9bnreported value*
79 new 208 added 251 reduced 77 sold out net sold ≈ $638.8m (-21.9m 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 ($3.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $30.28. Options: 56 managers hold calls ($4.0bn notional), 34 hold puts ($1.3bn).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 621Q4 22: 703Q1 23: 725Q2 23: 732732Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022621
Q4 2022703
Q1 2023725
Q2 2023732

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 22: 350 bought or addedQ4 22: 272 cut or sold outQ4 22Q1 23: 340 bought or addedQ1 23: 309 cut or sold outQ1 23Q2 23: 287 bought or addedQ2 23: 328 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022350272
Q1 2023340309
Q2 2023287328

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 0.31Q1 23 calls: $5.6bnQ1 23 puts: $1.3bnQ1 23P/C 0.23Q2 23 calls: $4.0bnQ2 23 puts: $1.3bnQ2 23P/C 0.31
Numbers
QuarterCallsPutsP/C
Q3 2022$2.9bn$1.1bn0.38
Q4 2022$4.1bn$1.2bn0.31
Q1 2023$5.6bn$1.3bn0.23
Q2 2023$4.0bn$1.3bn0.31

Biggest buyers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +5,896,324+5.9m
Arctis Global LLC New +2,825,786+2.8m
SPX Gestao de Recursos Ltda New +1,779,909+1.8m
Quantitative Investment Management, LLC New +1,035,192+1.0m
WELLINGTON MANAGEMENT GROUP LLP Added +1,019,437+1.0m
IFP Advisors, Inc Added +968,086+968.1k
HRT FINANCIAL LP Added +938,509+938.5k
EP Wealth Advisors, LLC New +822,549+822.5k
FIL Ltd Added +804,977+805.0k
ING GROEP NV New +673,600+673.6k

Biggest sellers

FMR LLC Reduced -11,119,437-11.1m
JPMORGAN CHASE & CO Reduced -4,157,850-4.2m
Parallax Volatility Advisers, L.P. Reduced -3,873,868-3.9m
CITIGROUP INC Reduced -3,062,837-3.1m
NATIONAL BANK OF CANADA /FI/ Reduced -2,634,453-2.6m
JANE STREET GROUP, LLC Reduced -2,253,022-2.3m
UBS Group AG Reduced -1,805,722-1.8m
PointState Capital LP Sold out -1,736,575-1.7m
BANK OF MONTREAL /CAN/ Reduced -1,380,910-1.4m
Slate Path Capital LP Reduced -1,300,000-1.3m

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $605.6m20.1m shares
JANE STREET GROUP, LLC Added $598.9m13.6m shares
CITADEL ADVISORS LLC Added $405.1m13.5m shares
CITIGROUP INC Reduced $212.1m7.0m shares
UBS Group AG Reduced $177.9m5.9m shares
GOLDMAN SACHS GROUP INC Reduced $173.3m5.8m shares
BANK OF AMERICA CORP /DE/ Reduced $162.2m5.4m shares
Parallax Volatility Advisers, L.P. Added $154.3m5.1m shares
IMC-Chicago, LLC Added $132.3m2.2m shares
Optiver Holding B.V. Added $127.6m837.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $561.4m18.6m shares
CITADEL ADVISORS LLC Reduced $132.7m4.4m shares
ROYAL BANK OF CANADA New $83.7m2.8m shares
Eisler Capital (UK) Ltd. Added $51.4m1.7m shares
Parallax Volatility Advisers, L.P. Added $48.2m1.6m shares
BANK OF AMERICA CORP /DE/ New $45.9m1.5m shares
UBS Group AG Added $35.6m1.2m shares
GOLDMAN SACHS GROUP INC Reduced $34.6m1.1m shares
MARSHALL WACE, LLP Reduced $28.2m935.4k shares
STATE OF WISCONSIN INVESTMENT BOARD New $24.1m800.0k 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, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.06% of their portfolio CHARLOTTE, NC 16,175,23516.2m $487.0m $487.0m 0.06% Reduced -350.4k -350,433
2 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 10,613,02810.6m $319.6m $319.6m 0.03% Added +57.2k +57,176
3 BANK OF MONTREAL /CAN/ 0.12% of their portfolio TORONTO, A6 9,430,7409.4m $333.3m $333.3m 0.12% Reduced -1.4m -1,380,910
4 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.44% of their portfolio BALA CYNWYD, PA 9,138,7779.1m $275.2m $275.2m 0.44% Added +5.9m +5,896,324
5 UBS Group AG 0.10% of their portfolio ZURICH, V8 7,929,0307.9m $238.7m $238.7m 0.10% Reduced -1.8m -1,805,722
6 Rafferty Asset Management, LLC 1.29% of their portfolio New York, NY 7,614,5277.6m $229.3m $229.3m 1.29% Reduced -1.1m -1,144,006
7 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 7,557,1977.6m $227.5m $227.5m 0.03% Reduced -4.2m -4,157,850
8 Caisse de depot et placement du Quebec 0.51% of their portfolio Montreal, A8 6,388,7436.4m $192.4m $192.4m 0.51% Reduced -394.5k -394,511
9 Slate Path Capital LP 6.01% of their portfolio New York, NY 5,455,0005.5m $164.3m $164.3m 6.01% Reduced -1.3m -1,300,000
10 TORONTO DOMINION BANK 0.10% of their portfolio TORONTO, ONTARIO, A6 4,693,2024.7m $141.3m $141.3m 0.10% Added +659.5k +659,473
11 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 3,787,5353.8m $114.0m $114.0m 0.03% Reduced -94.0k -93,950
12 WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio Boston, MA 3,635,3313.6m $109.5m $109.5m 0.02% Added +1.0m +1,019,437
13 NATIONAL BANK OF CANADA /FI/ 0.22% of their portfolio MONTREAL, A8 3,621,9143.6m $111.1m $111.1m 0.22% Reduced -2.6m -2,634,453
14 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 3,117,9603.1m $93.9m $93.9m 0.03% Reduced -486.1k -486,094
15 LPL Financial LLC 0.06% of their portfolio FORT MILL, SC 3,011,9883.0m $90.7m $90.7m 0.06% Added +383.5k +383,473
16 Arctis Global LLC 38.08% of their portfolio SAN JUAN, PR 2,825,7862.8m $85.1m $85.1m 38.08% New
17 Twin Tree Management, LP 1.67% of their portfolio DALLAS, TX 2,698,8742.7m $81.3m $81.3m 1.67% Added +670.1k +670,102
18 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 2,459,0372.5m $74.0m $74.0m 0.02% Added +340.6k +340,585
19 1832 Asset Management L.P. 0.14% of their portfolio TORONTO, A6 2,338,2082.3m $70.4m $70.4m 0.14% Added +69.8k +69,759
20 BNP PARIBAS FINANCIAL MARKETS 0.14% of their portfolio PARIS, I0 2,309,0512.3m $69.5m $69.5m 0.14% Added +428.9k +428,864
21 SYNOVUS FINANCIAL CORP 0.71% of their portfolio Columbus, GA 2,166,4852.2m $65.2m $65.2m 0.71% Reduced -48.5k -48,479
22 SPX Gestao de Recursos Ltda 2.55% of their portfolio RIO DE JANEIRO, D5 1,779,9091.8m $53.6m $53.6m 2.55% New
23 New Harbor Financial Group, LLC 15.65% of their portfolio WORCESTER, MA 1,709,3391.7m $51.5m $51.5m 15.65% Added +78.1k +78,123
24 HRT FINANCIAL LP 0.46% of their portfolio NEW YORK, NY 1,606,3661.6m $48.4m $48.4m 0.46% Added +938.5k +938,509
25 GUGGENHEIM CAPITAL LLC 0.38% of their portfolio CHICAGO, IL 1,592,9901.6m $48.0m $48.0m 0.38% Unchanged
26 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,535,1301.5m $46.2m $46.2m 0.01% Added +518.0k +518,033
27 TEACHER RETIREMENT SYSTEM OF TEXAS 0.30% of their portfolio AUSTIN, TX 1,501,0001.5m $45.2m $45.2m 0.30% Unchanged
28 HSBC HOLDINGS PLC 0.05% of their portfolio LONDON, X0 1,495,2741.5m $44.9m $44.9m 0.05% Added +45.6k +45,580
29 Annex Advisory Services, LLC 2.34% of their portfolio BROOKFIELD, WI 1,398,3041.4m $42.1m $42.1m 2.34% Reduced -143.5k -143,460
30 Alaska Permanent Fund Corp 0.79% of their portfolio JUNEAU, AK 1,331,0351.3m $40.1m $40.1m 0.79% First filing
31 Raymond James Financial Services Advisors, Inc. 0.06% of their portfolio ST. PETERSBURG, FL 1,200,0971.2m $36.1m $36.1m 0.06% Added +385.6k +385,577
32 CQS (US), LLC 4.20% of their portfolio NEW YORK, NY 1,160,8131.2m $35.0m $35.0m 4.20% Added +565.0k +565,000
33 AJ WEALTH STRATEGIES, LLC 1.68% of their portfolio NEW YORK, NY 1,157,8331.2m $34.9m $34.9m 1.68% Added +405.3k +405,318
34 TWO SIGMA INVESTMENTS, LP 0.09% of their portfolio NEW YORK, NY 1,153,7001.2m $34.7m $34.7m 0.09% Added +110.6k +110,630
35 CREDIT SUISSE AG/ 0.03% of their portfolio ZURICH, V8 1,148,6571.1m $34.6m $34.6m 0.03% Reduced -528.5k -528,544
36 Madison Asset Management, LLC 0.50% of their portfolio MADISON, WI 1,130,7151.1m $34.0m $34.0m 0.50% Added +60.8k +60,843
37 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 1,108,1231.1m $33.4m $33.4m 0.07% Added +437.0k +436,998
38 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 1,097,0491.1m $33.0m $33.0m 0.05% Added +42.5k +42,501
39 Quantitative Investment Management, LLC 2.95% of their portfolio CHARLOTTESVILLE, VA 1,035,1921.0m $31.2m $31.2m 2.95% New
40 GTS SECURITIES LLC 0.98% of their portfolio NEW YORK, NY 1,028,1841.0m $31.0m $31.0m 0.98% First filing
41 RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio ST PETERSBURG, FL 996,540996.5k $30.0m $30.0m 0.02% Reduced -167.5k -167,515
42 IFP Advisors, Inc 0.57% of their portfolio TAMPA, FL 984,488984.5k $25.8m $25.8m 0.57% Added +968.1k +968,086
43 Desjardins Global Asset Management Inc. 3.06% of their portfolio MONTREAL, A8 882,785882.8k $26.6m $26.6m 3.06% Reduced -880.4k -880,368
44 EP Wealth Advisors, LLC 0.03% of their portfolio TORRANCE, CA 822,549822.5k $2.1m $2.1m 0.03% New
45 FIL Ltd 0.03% of their portfolio HAMILTON, D0 808,660808.7k $24.3m $24.3m 0.03% Added +805.0k +804,977
46 Monaco Asset Management SAM 12.14% of their portfolio Monaco, O9 750,000750.0k $22.6m $22.6m 12.14% Reduced -100.0k -100,000
47 Memorial Sloan Kettering Cancer Center 70.19% of their portfolio New York, NY 738,500738.5k $22.2m $22.2m 70.19% Unchanged
48 STALEY CAPITAL ADVISERS INC 1.19% of their portfolio PITTSBURGH, PA 732,315732.3k $22.1m $22.1m 1.19% Reduced -9.0k -9,017
49 WS MANAGEMENT LLLP 3.01% of their portfolio JACKSONVILLE, FL 729,100729.1k $22.0m $22.0m 3.01% Added +30.0k +30,000
50 J.P. Morgan Private Wealth Advisors LLC 0.11% of their portfolio SAN FRANCISCO, CA 717,460717.5k $21.6m $21.6m 0.11% Reduced -14.0k -14,000
51 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 706,133706.1k $21.2m $21.2m 0.04% Added +79.3k +79,320
52 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 686,562686.6k $20.7m $20.7m 0.01% Reduced -995.7k -995,659
53 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 685,982686.0k $20.7m $20.7m 0.05% Added +35.9k +35,889
54 ING GROEP NV 0.15% of their portfolio AMSTERDAM, P7 673,600673.6k $20.3m $20.3m 0.15% New
55 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 643,771643.8k $19.4m $19.4m 0.02% Reduced -3.1m -3,062,837
56 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 614,012614.0k $18.5m $18.5m 0.01% Reduced -501.7k -501,724
57 Nokomis Capital, L.L.C. 6.60% of their portfolio DALLAS, TX 599,228599.2k $18.0m $18.0m 6.60% Reduced -24.1k -24,100
58 Cambridge Investment Research Advisors, Inc. 0.08% of their portfolio FAIRFIELD, IA 580,857580.9k $17.5m $17.5m 0.08% Reduced -98.5k -98,451
59 CIBC WORLD MARKET INC. 0.05% of their portfolio TORONTO, A6 531,380531.4k $16.0m $16.0m 0.05% Reduced -77.4k -77,449
60 Woodson Capital Management, LP 2.50% of their portfolio Greenwich, CT 500,000500.0k $15.1m $15.1m 2.50% Reduced -175.0k -175,000
61 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.26% of their portfolio New York, NY 489,826489.8k $14.7m $14.7m 0.26% Reduced -1.8k -1,820
62 GROUP ONE TRADING LLC 0.62% of their portfolio CHICAGO, IL 483,924483.9k $14.6m $14.6m 0.62% Added +23.3k +23,342
63 Janney Montgomery Scott LLC 0.05% of their portfolio PHILADELPHIA, PA 477,095477.1k $14.4m $14.4m 0.05% Added +10.9k +10,910
64 Clearwater Capital Advisors, LLC 1.71% of their portfolio HOFFMAN ESTATES, IL 476,004476.0k $14.3m $14.3m 1.71% Added +2.6k +2,584
65 Nan Shan Life Insurance Co., Ltd. 0.34% of their portfolio Taipei City, F5 471,251471.3k $14.2m $14.2m 0.34% Added +192.7k +192,651
66 WOLVERINE TRADING, LLC 0.19% of their portfolio CHICAGO, IL 468,497468.5k $13.9m $13.9m 0.19% Added +80.4k +80,381
67 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 449,400449.4k $13.5m $13.5m 0.02% New
68 BRADLEY FOSTER & SARGENT INC/CT 0.27% of their portfolio HARTFORD, CT 433,979434.0k $13.1m $13.1m 0.27% Added +163.9k +163,910
69 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 420,590420.6k $12.7m $12.7m 0.02% Added +24.3k +24,279
70 Cambria Investment Management, L.P. 1.02% of their portfolio Manhattan Beach, CA 409,105409.1k $12.3m $12.3m 1.02% Reduced -12.0k -11,957
71 Valiant Capital Management, L.P. 1.73% of their portfolio San Francisco, CA 403,300403.3k $12.1m $12.1m 1.73% Reduced -73.7k -73,700
72 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 396,746396.7k $11.9m $11.9m 0.01% Reduced -73.4k -73,406
73 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 372,028372.0k $11.2m $11.2m 0.02% Reduced -130.6k -130,626
74 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 368,121368.1k $11.1m $11.1m 0.01% Added +148.6k +148,616
75 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 353,870353.9k $10.7m $10.7m 0.00% Added +66.2k +66,180
76 Barry Investment Advisors, LLC 3.57% of their portfolio NEW BEDFORD, MA 350,714350.7k $10.6m $10.6m 3.57% Added +31.0k +30,961
77 Rockefeller Capital Management L.P. 0.04% of their portfolio NEW YORK, NY 349,926349.9k $10.5m $10.5m 0.04% First filing
78 EVERGREEN CAPITAL MANAGEMENT LLC 0.43% of their portfolio Bellevue, WA 339,173339.2k $10.2m $10.2m 0.43% Added +2.8k +2,777
79 Cetera Investment Advisers 0.08% of their portfolio SCHAUMBURG, IL 335,366335.4k $10.1m $10.1m 0.08% Reduced -25.9k -25,887
80 CMT Capital Markets Trading GmbH 4.12% of their portfolio CHICAGO, IL 330,124330.1k $9.9m $9.9m 4.12% Added +265.5k +265,451
81 GILDER GAGNON HOWE & CO LLC 0.13% of their portfolio New York, NY 321,305321.3k $9.7m $9.7m 0.13% Reduced -4.8k -4,757
82 BLAIR WILLIAM & CO/IL 0.03% of their portfolio CHICAGO, IL 309,448309.4k $9.3m $9.3m 0.03% Reduced -11.1k -11,074
83 Forest Hill Capital, LLC 3.99% of their portfolio LITTLE ROCK, AR 279,500279.5k $8.4m $8.4m 3.99% Unchanged
84 Bridge Advisory, LLC 3.06% of their portfolio PASADENA, CA 276,904276.9k $8.3m $8.3m 3.06% Reduced -204 -204
85 CW Advisors, LLC 0.19% of their portfolio BOSTON, MA 274,833274.8k $8.3m $8.3m 0.19% Added +6.7k +6,698
86 LONESTAR CAPITAL MANAGEMENT LLC 4.28% of their portfolio San Francisco, CA 270,000270.0k $8.1m $8.1m 4.28% Unchanged
87 AE Wealth Management LLC 0.05% of their portfolio TOPEKA, KS 269,582269.6k $8.1m $8.1m 0.05% Added +92.7k +92,707
88 PCG Wealth Advisors, LLC 4.98% of their portfolio OVERLAND PARK, KS 266,228266.2k $8.0m $8.0m 4.98% Reduced -144 -144
89 MSH Capital Advisors LLC 2.88% of their portfolio SCOTTSDALE, AZ 261,028261.0k $7.9m $7.9m 2.88% Added +6.3k +6,263
90 EQUITABLE TRUST CO 0.60% of their portfolio NASHVILLE, TN 259,663259.7k $7.8m $7.8m 0.60% Added +629 +629
91 STEVENS CAPITAL MANAGEMENT LP 1.55% of their portfolio RADNOR, PA 250,500250.5k $7.5m $7.5m 1.55% Added +119.3k +119,300
92 Pekin Hardy Strauss, Inc. 1.17% of their portfolio CHICAGO, IL 249,542249.5k $7.5m $7.5m 1.17% Added +4.7k +4,680
93 SG Americas Securities, LLC 0.06% of their portfolio NEW YORK, NY 247,929247.9k $7.5m $7.5m 0.06% Reduced -12.3k -12,340
94 Kestra Advisory Services, LLC 0.07% of their portfolio AUSTIN, TX 246,510246.5k $7.4m $7.4m 0.07% Added +29.0k +29,039
95 Cetera Advisors LLC 0.12% of their portfolio DENVER, CO 246,196246.2k $7.4m $7.4m 0.12% Added +26.4k +26,387
96 Crestline Management, L.P. 0.80% of their portfolio FORT WORTH, TX 243,014243.0k $7.3m $7.3m 0.80% New
97 Mader & Shannon Wealth Management, Inc. 4.45% of their portfolio KANSAS CITY, MO 239,267239.3k $7.2m $7.2m 4.45% Added +14.1k +14,083
98 U.S. Capital Wealth Advisors, LLC 0.34% of their portfolio AUSTIN, TX 238,571238.6k $7.2m $7.2m 0.34% Added +21.2k +21,223
99 InterOcean Capital Group, LLC 0.22% of their portfolio NASHVILLE, TN 236,110236.1k $7.1m $7.1m 0.22% Reduced -13.1k -13,058
100 SIMPLEX TRADING, LLC 0.30% of their portfolio CHICAGO, IL 230,854230.9k $7.0m $7.0m 0.30% Reduced -186.0k -186,030