Vault-13

VANECK ETF TRUST GDXJ

JUNIOR GOLD MINE · ETP · CUSIP 92189F791 · ISIN US92189F7915

447 institutional holders +46 vs Q3 2025
40,833,33240.8m shares reported held*
$4.7bnreported value*
76 new 125 added 138 reduced 46 sold out net sold ≈ $37.1m (-345.6k 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 ($37.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $113.90. Options: 19 managers hold calls ($453.3m notional), 22 hold puts ($1.0bn).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 241Q4 22: 284Q1 23: 265Q2 23: 266Q3 23: 262Q4 23: 305Q1 24: 299Q2 24: 305Q3 24: 326Q4 24: 330Q1 25: 340Q2 25: 369Q3 25: 401Q4 25: 447447Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022241
Q4 2022284
Q1 2023265
Q2 2023266
Q3 2023262
Q4 2023305
Q1 2024299
Q2 2024305
Q3 2024326
Q4 2024330
Q1 2025340
Q2 2025369
Q3 2025401
Q4 2025447

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 24: 134 bought or addedQ1 24: 130 cut or sold outQ2 24: 124 bought or addedQ2 24: 138 cut or sold outQ2 24Q3 24: 136 bought or addedQ3 24: 138 cut or sold outQ4 24: 141 bought or addedQ4 24: 141 cut or sold outQ4 24Q1 25: 148 bought or addedQ1 25: 146 cut or sold outQ2 25: 163 bought or addedQ2 25: 157 cut or sold outQ2 25Q3 25: 192 bought or addedQ3 25: 133 cut or sold outQ4 25: 201 bought or addedQ4 25: 184 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024134130
Q2 2024124138
Q3 2024136138
Q4 2024141141
Q1 2025148146
Q2 2025163157
Q3 2025192133
Q4 2025201184

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ1 25 calls: $229.0mQ1 25 puts: $387.0mQ1 25P/C 1.69Q2 25 calls: $377.2mQ2 25 puts: $352.7mQ2 25P/C 0.94Q3 25 calls: $606.0mQ3 25 puts: $676.4mQ3 25P/C 1.12Q4 25 calls: $453.3mQ4 25 puts: $1.0bnQ4 25P/C 2.24
Numbers
QuarterCallsPutsP/C
Q1 2025$229.0m$387.0m1.69
Q2 2025$377.2m$352.7m0.94
Q3 2025$606.0m$676.4m1.12
Q4 2025$453.3m$1.0bn2.24

Biggest buyers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +1,358,641+1.4m
UBS Group AG Added +1,301,864+1.3m
BANK OF MONTREAL /CAN/ Added +1,167,805+1.2m
Nearwater Capital Markets, Ltd Added +780,000+780.0k
Jain Global LLC New +510,001+510.0k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New +500,000+500.0k
Capitolis Liquid Global Markets LLC New +486,000+486.0k
Rafferty Asset Management, LLC Added +404,916+404.9k
PEAK6 LLC New +264,530+264.5k
JANE STREET GROUP, LLC Added +262,558+262.6k

Biggest sellers

Lingotto Investment Management LLP Reduced -2,562,580-2.6m
Invesco Ltd. Sold out -1,982,116-2.0m
CITIGROUP INC Reduced -726,347-726.3k
D. E. Shaw & Co., Inc. Sold out -589,745-589.7k
ROYAL BANK OF CANADA Reduced -539,824-539.8k
Twin Tree Management, LP Sold out -489,674-489.7k
BNP PARIBAS FINANCIAL MARKETS Reduced -384,942-384.9k
Gemsstock Ltd. Reduced -232,300-232.3k
CITADEL ADVISORS LLC Sold out -222,212-222.2k
WELLS FARGO & COMPANY/MN Reduced -192,554-192.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $115.6m1.0m shares
Jain Global LLC New $78.8m692.3k shares
BARCLAYS PLC Added $66.3m582.5k shares
CITADEL ADVISORS LLC Reduced $37.2m327.1k shares
JANE STREET GROUP, LLC Reduced $34.9m306.9k shares
Point72 Asset Management, L.P. New $28.0m246.0k shares
Walleye Trading LLC Reduced $18.9m166.4k shares
MARSHALL WACE, LLP Added $12.5m110.2k shares
UBS Group AG Added $11.8m103.8k shares
CAPITAL FUND MANAGEMENT S.A. Added $10.4m91.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $269.1m2.4m shares
JANE STREET GROUP, LLC Reduced $160.1m1.4m shares
Jain Global LLC New $153.6m1.3m shares
BARCLAYS PLC Added $66.3m582.5k shares
CITADEL ADVISORS LLC Reduced $62.4m548.3k shares
Point72 Asset Management, L.P. New $62.4m548.1k shares
PEAK6 LLC Added $51.3m450.6k shares
MARSHALL WACE, LLP Reduced $51.0m448.6k shares
Walleye Trading LLC Added $45.7m401.7k shares
GeoSphere Capital Management, LLC New $27.3m240.0k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF MONTREAL /CAN/ 0.23% of their portfolio TORONTO, A6 5,038,2945.0m $573.3m $573.3m 0.23% Added +1.2m +1,167,805
2 UBS Group AG 0.10% of their portfolio ZURICH, V8 4,443,3164.4m $505.6m $505.6m 0.10% Added +1.3m +1,301,864
3 BESSEMER GROUP INC 0.47% of their portfolio WOODBRIDGE, NJ 2,673,5652.7m $304.2m $304.2m 0.47% Reduced -173.1k -173,085
4 Lingotto Investment Management LLP 5.22% of their portfolio London, X0 2,602,8942.6m $296.2m $296.2m 5.22% Reduced -2.6m -2,562,580
5 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 2,306,4832.3m $262.4m $262.4m 0.02% Added +145.4k +145,362
6 CITIGROUP INC 0.18% of their portfolio NEW YORK, NY 2,265,8502.3m $257.8m $257.8m 0.18% Reduced -726.3k -726,347
7 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.30% of their portfolio BALA CYNWYD, PA 1,951,9012.0m $222.1m $222.1m 0.30% Added +1.4m +1,358,641
8 Rafferty Asset Management, LLC 0.69% of their portfolio New York, NY 1,750,4751.8m $199.2m $199.2m 0.69% Added +404.9k +404,916
9 Nearwater Capital Markets, Ltd 3.19% of their portfolio NEW YORK, NY 1,640,0001.6m $186.6m $186.6m 3.19% Added +780.0k +780,000
10 BNP PARIBAS FINANCIAL MARKETS 0.07% of their portfolio PARIS, I0 970,137970.1k $110.4m $110.4m 0.07% Reduced -384.9k -384,942
11 Cetera Investment Advisers 0.09% of their portfolio SCHAUMBURG, IL 694,925694.9k $79.1m $79.1m 0.09% Reduced -53.6k -53,557
12 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 684,827684.8k $77.9m $77.9m 0.02% Reduced -192.6k -192,554
13 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 586,294586.3k $66.7m $66.7m 0.02% Added +60.4k +60,402
14 Heartwood Wealth Advisors LLC 5.47% of their portfolio RICHMOND, VA 521,972522.0k $59.4m $59.4m 5.47% Reduced -3.0k -2,978
15 Jain Global LLC 0.57% of their portfolio NEW YORK, NY 510,001510.0k $58.0m $58.0m 0.57% New
16 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.10% of their portfolio TORONTO, A6 500,000500.0k $56.9m $56.9m 0.10% New
17 Capitolis Liquid Global Markets LLC 0.33% of their portfolio NEW YORK, NY 486,000486.0k $55.3m $55.3m 0.33% New
18 Panview Capital Ltd 17.50% of their portfolio HONG KONG, K3 428,200428.2k $48.7m $48.7m 17.50% Reduced -110.0k -110,000
19 THOR INVESTMENT MANAGEMENT INC /OH/ /ADV 26.77% of their portfolio CINCINNATI, OH 410,090410.1k $46.7m $46.7m 26.77% Reduced -5.9k -5,851
20 TEACHER RETIREMENT SYSTEM OF TEXAS 0.15% of their portfolio AUSTIN, TX 379,000379.0k $43.1m $43.1m 0.15% Added +15.0k +15,000
21 Artisan Partners Limited Partnership 0.06% of their portfolio Milwaukee, WI 364,090364.1k $41.4m $41.4m 0.06% Added +4.0k +3,950
22 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 327,582327.6k $37.3m $37.3m 0.01% Added +188.6k +188,621
23 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 293,999294.0k $33.5m $33.5m 0.04% Added +262.6k +262,558
24 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 270,000270.0k $30.7m $30.7m 0.05% Added +183.8k +183,834
25 PEAK6 LLC 0.41% of their portfolio AUSTIN, TX 264,530264.5k $30.1m $30.1m 0.41% New
26 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 245,119245.1k $27.9m $27.9m 0.00% Reduced -539.8k -539,824
27 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 233,757233.8k $26.6m $26.6m 0.00% Reduced -5.8k -5,798
28 Eschler Asset Management LLP 15.47% of their portfolio London, X0 200,000200.0k $22.8m $22.8m 15.47% Added +144.2k +144,219
29 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 192,902192.9k $21.9m $21.9m 0.02% Added +14.1k +14,090
30 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 189,128189.1k $21.5m $21.5m 0.02% Reduced -6.9k -6,915
31 Vanderbilt University 3.25% of their portfolio NASHVILLE, TN 167,510167.5k $19.1m $19.1m 3.25% Added +3.7k +3,685
32 Federation des caisses Desjardins du Quebec 0.07% of their portfolio LEVIS, A8 167,375167.4k $19.0m $19.0m 0.07% Added +98.7k +98,684
33 Amundi 0.00% of their portfolio Paris, I0 161,333161.3k $18.4m $18.4m 0.00% Added +56.4k +56,383
34 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 146,622146.6k $16.7m $16.7m 0.02% Reduced -4.2k -4,207
35 Fielder Capital Group LLC 3.49% of their portfolio NASHVILLE, TN 144,225144.2k $16.4m $16.4m 3.49% Unchanged
36 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 135,722135.7k $15.4m $15.4m 0.00% Reduced -7.0k -7,003
37 BlueCrest Capital Management Ltd 0.60% of their portfolio ST HELIER, Y9 135,244135.2k $15.4m $15.4m 0.60% New
38 BEARING POINT CAPITAL, LLC 2.40% of their portfolio BLOOMINGTON, MN 134,648134.6k $15.3m $15.3m 2.40% Added +9.8k +9,771
39 Gemsstock Ltd. 1.92% of their portfolio London, X0 133,558133.6k $15.2m $15.2m 1.92% Reduced -232.3k -232,300
40 Riggs Asset Managment Co. Inc. 3.03% of their portfolio DALLAS, PA 132,062132.1k $15.0m $15.0m 3.03% Reduced -1.8k -1,792
41 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 128,051128.1k $14.6m $14.6m 0.02% Reduced -14.9k -14,889
42 HOLLENCREST CAPITAL MANAGEMENT 0.48% of their portfolio NEWPORT BEACH, CA 122,956123.0k $14.0m $14.0m 0.48% Added +1.3k +1,266
43 SUMMIT SECURITIES GROUP LLC 2.34% of their portfolio NEW YORK, NY 115,400115.4k $13.1m $13.1m 2.34% New
44 ROYCE & ASSOCIATES LP 0.13% of their portfolio New York, NY 113,758113.8k $12.9m $12.9m 0.13% Reduced -35.0k -35,000
45 OLD MISSION CAPITAL LLC 0.48% of their portfolio CHICAGO, IL 108,262108.3k $12.3m $12.3m 0.48% New
46 CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio RALEIGH, NC 108,073108.1k $12.3m $12.3m 0.02% Added +744 +744
47 HRT FINANCIAL LP 0.04% of their portfolio NEW YORK, NY 98,38498.4k $11.2m $11.2m 0.04% New
48 NWAM LLC 0.79% of their portfolio MERCER ISLAND, WA 98,12098.1k $14.2m $14.2m 0.79% Reduced -20.3k -20,317
49 MAINSTAY CAPITAL MANAGEMENT LLC /ADV 0.82% of their portfolio GRAND BLANC, MI 94,29394.3k $10.7m $10.7m 0.82% New
50 Kercheville Advisors, LLC 3.42% of their portfolio San Antonio, TX 91,89191.9k $13.1m $13.1m 3.42% Reduced -14.7k -14,650
51 Carrera Capital Advisors 1.74% of their portfolio TROY, MI 91,07691.1k $10.4m $10.4m 1.74% Reduced -36.4k -36,410
52 ARP Global Capital Ltd 3.02% of their portfolio DUBAI, C0 88,00088.0k $10.0m $10.0m 3.02% First filing
53 Nokomis Capital, L.L.C. 2.73% of their portfolio DALLAS, TX 86,31586.3k $9.8m $9.8m 2.73% Unchanged
54 Professional Financial Management, Inc. 11.12% of their portfolio APPLETON, WI 86,18886.2k $9.8m $9.8m 11.12% First filing
55 TCFG WEALTH MANAGEMENT, LLC 3.69% of their portfolio LAGUNA NIGUEL, CA 82,96483.0k $9.4m $9.4m 3.69% Added +9.1k +9,146
56 ABBINGTON INVESTMENT GROUP 6.26% of their portfolio WESTPORT, CT 80,51880.5k $9.2m $9.2m 6.26% Added +2.6k +2,602
57 EASTERLY INVESTMENT PARTNERS LLC 0.52% of their portfolio BEVERLY, MA 74,51174.5k $8.5m $8.5m 0.52% Reduced -13.6k -13,550
58 GTS SECURITIES LLC 0.28% of their portfolio NEW YORK, NY 73,27773.3k $8.3m $8.3m 0.28% Added +55.3k +55,285
59 SMITH, MOORE & CO. 0.59% of their portfolio CLAYTON, MO 68,30168.3k $7.8m $7.8m 0.59% Added +768 +768
60 Corecam Pte. Ltd. 3.95% of their portfolio SINGAPORE, U0 65,40065.4k $7.4m $7.4m 3.95% Reduced -280 -280
61 TBH Global Asset Management, LLC 0.94% of their portfolio Brentwood, TN 62,95063.0k $5.6m $5.6m 0.94% Added +54.4k +54,440
62 Inlight Wealth Management, LLC 2.59% of their portfolio ATLANTA, GA 62,12962.1k $7.1m $7.1m 2.59% Reduced -631 -631
63 LONESTAR CAPITAL MANAGEMENT LLC 3.65% of their portfolio San Francisco, CA 60,00060.0k $6.8m $6.8m 3.65% Reduced -24.0k -24,000
64 MRA Advisory Group 2.82% of their portfolio PARSIPPANY, NJ 58,93758.9k $6.7m $6.7m 2.82% New
65 FLOW TRADERS U.S. LLC 0.22% of their portfolio NEW YORK, NY 58,83858.8k $6.7m $6.7m 0.22% New
66 K.J. Harrison & Partners Inc 0.88% of their portfolio TORONTO, A6 58,30058.3k $6.6m $6.6m 0.88% Added +3.1k +3,120
67 Kestra Advisory Services, LLC 0.03% of their portfolio AUSTIN, TX 57,59757.6k $6.6m $6.6m 0.03% Reduced -2.0k -2,042
68 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 57,35257.4k $6.5m $6.5m 0.00% Added +5.8k +5,769
69 GROUP ONE TRADING LLC 0.19% of their portfolio CHICAGO, IL 56,31456.3k $6.4m $6.4m 0.19% New
70 Prospera Financial Services Inc 0.10% of their portfolio Dallas, TX 56,19156.2k $6.4m $6.4m 0.10% Reduced -9.3k -9,297
71 Canoe Financial LP 0.08% of their portfolio CALGARY, A0 54,20154.2k $6.2m $6.2m 0.08% Reduced -8.4k -8,370
72 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 53,90053.9k $6.1m $6.1m 0.01% Reduced -17.0k -17,000
73 HARBOR INVESTMENT ADVISORY, LLC 0.44% of their portfolio LUTHERVILLE, MD 51,86251.9k $5.9m $5.9m 0.44% Added +21.3k +21,255
74 INTREPID FAMILY OFFICE LLC 5.47% of their portfolio SARASOTA, FL 50,00050.0k $5.7m $5.7m 5.47% Unchanged
75 PARSONS CAPITAL MANAGEMENT INC/RI 0.31% of their portfolio PROVIDENCE, RI 49,39349.4k $5.6m $5.6m 0.31% Reduced -630 -630
76 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 49,35149.4k $5.6m $5.6m 0.01% Added +24.1k +24,127
77 TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio STAMFORD, CT 49,12649.1k $5.6m $5.6m 0.03% Reduced -10.5k -10,510
78 Realta Investment Advisors 1.78% of their portfolio WILMINGTON, DE 47,50047.5k $5.4m $5.4m 1.78% Reduced -550 -550
79 Beacon Pointe Advisors, LLC 0.04% of their portfolio NEWPORT BEACH, CA 44,95145.0k $5.1m $5.1m 0.04% Added +169 +169
80 Copley Financial Group, Inc. 3.15% of their portfolio SAN DIEGO, CA 44,77344.8k $5.1m $5.1m 3.15% New
81 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 43,19743.2k $4.9m $4.9m 0.01% Added +4.6k +4,621
82 BARD ASSOCIATES INC 1.22% of their portfolio CHICAGO, IL 41,78941.8k $4.8m $4.8m 1.22% Reduced -7.2k -7,222
83 TITAN GLOBAL CAPITAL MANAGEMENT USA LLC 0.68% of their portfolio NEW YORK, NY 41,73141.7k $4.7m $4.7m 0.68% Reduced -514 -514
84 CURA WEALTH ADVISORS, LLC 1.75% of their portfolio CHICAGO, IL 40,67340.7k $4.6m $4.6m 1.75% Reduced -2.1k -2,083
85 SIMPLEX TRADING, LLC 0.13% of their portfolio CHICAGO, IL 40,49240.5k $4.6m $4.6m 0.13% New
86 Freemont Management S.A. 0.91% of their portfolio VAUD, V8 40,00040.0k $4.6m $4.6m 0.91% Reduced -50.0k -50,000
87 MONEY CONCEPTS CAPITAL CORP 0.25% of their portfolio PALM BEACH GARDENS, FL 39,18439.2k $4.5m $4.5m 0.25% Added +745 +745
88 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 38,95439.0k $4.4m $4.4m 0.00% Reduced -5.4k -5,391
89 Marex Group Ltd 0.05% of their portfolio London, X0 38,50438.5k $4.4m $4.4m 0.05% Reduced -3.0k -3,038
90 RIA Advisory Group LLC 1.03% of their portfolio Des Moines, IA 37,32737.3k $4.2m $4.2m 1.03% Added +11.6k +11,605
91 SCOTIA CAPITAL INC. 0.02% of their portfolio TORONTO, A6 37,09437.1k $4.2m $4.2m 0.02% Reduced -4.0k -4,042
92 SummitTX Capital, L.P. 0.12% of their portfolio FORT WORTH, TX 36,11536.1k $4.1m $4.1m 0.12% Reduced -21.7k -21,685
93 CHELSEA COUNSEL CO 1.72% of their portfolio Woodland Hills, CA 35,26035.3k $4.0m $4.0m 1.72% Unchanged
94 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 34,95035.0k $4.0m $4.0m 0.02% Added +5.3k +5,348
95 SBI Securities Co., Ltd. 0.10% of their portfolio TOKYO, M0 34,52434.5k $3.9m $3.9m 0.10% Reduced -1.2k -1,224
96 West Family Investments, Inc. 0.92% of their portfolio CARLSBAD, CA 34,50034.5k $3.9m $3.9m 0.92% Unchanged
97 Main Street Financial Solutions, LLC 0.29% of their portfolio NEWTOWN, PA 33,94033.9k $3.9m $3.9m 0.29% Reduced -4.8k -4,775
98 Corecam AG 3.85% of their portfolio ZURICH, V8 33,70033.7k $3.8m $3.8m 3.85% First filing
99 Pekin Hardy Strauss, Inc. 0.35% of their portfolio CHICAGO, IL 33,13433.1k $3.8m $3.8m 0.35% Reduced -2.0k -2,000
100 HOHIMER WEALTH MANAGEMENT, LLC 0.48% of their portfolio SEATTLE, WA 31,17031.2k $3.5m $3.5m 0.48% Added +3.1k +3,060