GDX VANECK ETF TRUST
GOLD MINERS ETF
CUSIP: 92189F106
FIGI: BBG000PLNQN7
Institutional Holders1,143
Total Institutional Value$26,878,531,316
Total Shares Held314,705,681
Avg Position$23,515,775
Top 5 Holders %43.0%
Alpha-Weighted Score58.8
New Positions+132
Exited Positions-79
Top 15 Institutional Holders by Value
■ New ■ Increased ■ Decreased ■ Unchanged
Institutional Holders — Q4 25
| Manager | Alpha | Flow | Value | Shares | Change |
|---|---|---|---|---|---|
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Moderate Conviction | Market Mover | $4,315,023,515 (16.1%) | 50,309,240 | 57.0% |
| JANE STREET GROUP, LLC | Moderate Conviction | Market Mover | $2,685,367,698 (10.0%) | 31,308,939 | 22.6% |
| BANK OF MONTREAL /CAN/ | High Conviction | Market Mover | $1,867,100,951 (6.9%) | 21,768,695 | 68.0% |
| CITADEL ADVISORS LLC | Moderate Conviction | Market Mover | $1,487,675,332 (5.5%) | 17,344,938 | 12.0% |
| ELLIOTT INVESTMENT MANAGEMENT L.P. | High Conviction | Low Flow | $1,200,780,000 (4.5%) | 14,000,000 | 36.7% |
| MORGAN STANLEY | Moderate Conviction | Market Mover | $1,104,421,479 (4.1%) | 12,876,546 | 13.1% |
| UBS Group AG | Moderate Conviction | Market Mover | $858,562,760 (3.2%) | 10,010,059 | -19.8% |
| BARCLAYS PLC | High Conviction | Market Mover | $660,367,505 (2.5%) | 7,699,283 | 54.9% |
| WELLS FARGO & COMPANY/MN | Moderate Conviction | Market Mover | $654,285,927 (2.4%) | 7,628,377 | 73.8% |
| BANK OF AMERICA CORP /DE/ | Moderate Conviction | Market Mover | $642,124,875 (2.4%) | 7,486,591 | -75.7% |
| TOROSO INVESTMENTS, LLC | High Conviction | Significant Flow | $607,300,746 (2.3%) | 7,080,573 | 116.4% |
| RAFFERTY ASSET MANAGEMENT, LLC | High Conviction | Significant Flow | $604,986,586 (2.3%) | 7,053,592 | 21.5% |
| CITIGROUP INC | Moderate Conviction | Market Mover | $501,443,221 (1.9%) | 5,846,371 | -14.5% |
| BALYASNY ASSET MANAGEMENT LLC | Moderate Conviction | Market Mover | $479,201,879 (1.8%) | 5,587,057 | -34.0% |
| Jain Global LLC | High Conviction | Significant Flow | $475,585,044 (1.8%) | 5,544,888 | 41.2% |
| GOLDMAN SACHS GROUP INC | High Conviction | Market Mover | $424,281,048 (1.6%) | 4,946,730 | 36.7% |
| BNP PARIBAS FINANCIAL MARKETS | Moderate Conviction | Market Mover | $319,378,490 (1.2%) | 1,422,506 | -31.9% |
| LPL FINANCIAL LLC | High Conviction | Market Mover | $300,436,535 (1.1%) | 3,502,816 | 9.9% |
| ROYAL BANK OF CANADA | High Conviction | Market Mover | $241,816,000 (0.9%) | 2,819,355 | -61.0% |
| CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | High Conviction | Significant Flow | $218,970,810 (0.8%) | 2,553,000 | NEW |
| CAPITAL FUND MANAGEMENT S.A. | Moderate Conviction | Significant Flow | $179,482,302 (0.7%) | 2,092,600 | -55.1% |
| WALLEYE TRADING LLC | Moderate Conviction | Significant Flow | $175,605,326 (0.7%) | 2,047,398 | 30.6% |
| POINT72 ASSET MANAGEMENT, L.P. | Moderate Conviction | Market Mover | $166,841,777 (0.6%) | 1,945,223 | 593.7% |
| TUDOR INVESTMENT CORP ET AL | Moderate Conviction | Significant Flow | $158,121,369 (0.6%) | 1,843,551 | 23.3% |
| MARSHALL WACE, LLP | Moderate Conviction | Market Mover | $142,290,972 (0.5%) | 1,658,983 | -35.0% |
| MILLENNIUM MANAGEMENT, L.L.C. | Moderate Conviction | Market Mover | $125,740,364 (0.5%) | 1,466,018 | -39.2% |
| SCHONFELD STRATEGIC ADVISORS LLC | High Conviction | Significant Flow | $125,246,671 (0.5%) | 1,460,262 | 51.3% |
| RAYMOND JAMES FINANCIAL INC | Moderate Conviction | Market Mover | $124,876,755 (0.5%) | 1,457,527 | 5.5% |
| PARALLAX VOLATILITY ADVISERS, LLC | Moderate Conviction | Significant Flow | $117,701,314 (0.4%) | 1,372,290 | 9.0% |
| RIT CAPITAL PARTNERS PLC | High Conviction | Minimal Flow | $102,678,660 (0.4%) | 1,197,000 | 96.3% |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | High Conviction | Significant Flow | $101,980,530 (0.4%) | 1,189,000 | NEW |
| LMR PARTNERS LLP | High Conviction | Significant Flow | $101,700,319 (0.4%) | 1,185,733 | 133.3% |
| AMERIPRISE FINANCIAL INC | Moderate Conviction | Market Mover | $92,361,866 (0.3%) | 1,077,043 | 12.2% |
| STIFEL FINANCIAL CORP | High Conviction | Market Mover | $89,200,402 (0.3%) | 1,039,989 | 4.0% |
| M&T BANK CORP | High Conviction | Significant Flow | $89,148,903 (0.3%) | 2,052,509 | 4,273.6% |
| TWIN TREE MANAGEMENT, LP | Moderate Conviction | Significant Flow | $85,721,880 (0.3%) | 999,439 | -54.0% |
| COMMONWEALTH EQUITY SERVICES, LLP | Moderate Conviction | Market Mover | $85,470,276 (0.3%) | 996,505 | 108,866.8% |
| SCHRODER INVESTMENT MANAGEMENT GROUP | High Conviction | Market Mover | $85,336,018 (0.3%) | 982,681 | 14.7% |
| ROCKEFELLER CAPITAL MANAGEMENT L.P. | High Conviction | Market Mover | $83,061,038 (0.3%) | 967,694 | 31.9% |
| MENORAH HOLDINGS LTD. | High Conviction | Moderate Flow | $78,844,072 (0.3%) | 919,250 | 12.3% |
| NEW HARBOR FINANCIAL GROUP, LLC | Elite Conviction | Minimal Flow | $74,297,245 (0.3%) | 866,238 | 12.7% |
| SQUAREPOINT OPS LLC | Moderate Conviction | Significant Flow | $73,504,890 (0.3%) | 857,000 | -45.4% |
| VANDERBILT UNIVERSITY | Elite Conviction | Minimal Flow | $70,313,817 (0.3%) | 819,795 | 13.1% |
| CETERA INVESTMENT ADVISERS | High Conviction | Significant Flow | $68,502,524 (0.3%) | 798,676 | -5.6% |
| JPMORGAN CHASE & CO | High Conviction | Market Mover | $65,487,006 (0.2%) | 763,518 | -77.9% |
| MEITAV INVESTMENT HOUSE LTD | High Conviction | Moderate Flow | $61,600,014 (0.2%) | 718,200 | 12.6% |
| CENTIVA CAPITAL, LP | Moderate Conviction | Significant Flow | $60,764,357 (0.2%) | 708,457 | 293.1% |
| BANK OF NOVA SCOTIA | High Conviction | Significant Flow | $60,728,789 (0.2%) | 708,036 | 74.4% |
| GLOBALT INVESTMENTS LLC / GA | High Conviction | Low Flow | $60,642,379 (0.2%) | 707,035 | -26.6% |
| DRW SECURITIES, LLC | Moderate Conviction | Moderate Flow | $60,484,489 (0.2%) | 705,194 | 521.8% |
| KEYSTONE INVESTORS PTE LTD | High Conviction | Low Flow | $57,449,089 (0.2%) | 669,804 | NEW |
| LONDON & CAPITAL ASSET MANAGEMENT LTD | High Conviction | Moderate Flow | $56,155,635 (0.2%) | 654,609 | 52.4% |
| NATIONAL BANK OF CANADA /FI/ | Moderate Conviction | Market Mover | $55,476,694 (0.2%) | 646,802 | -54.4% |
| ENVESTNET ASSET MANAGEMENT INC | High Conviction | Significant Flow | $54,718,455 (0.2%) | 637,967 | -4.0% |
| WS MANAGEMENT LLP | High Conviction | Low Flow | $53,345,767 (0.2%) | 621,963 | -39.9% |
| OSAIC HOLDINGS, INC. | Moderate Conviction | Market Mover | $53,109,398 (0.2%) | 619,116 | -14.7% |
| LOMBARD ODIER ASSET MANAGEMENT (USA) CORP | Moderate Conviction | Low Flow | $52,962,975 (0.2%) | 617,500 | 15.5% |
| STALEY CAPITAL ADVISERS INC | High Conviction | Low Flow | $51,158,889 (0.2%) | 596,466 | 3.0% |
| PEAK6 LLC | Moderate Conviction | Significant Flow | $50,853,033 (0.2%) | 592,900 | -65.4% |
| FEDERATION DES CAISSES DESJARDINS DU QUEBEC | High Conviction | Significant Flow | $50,295,494 (0.2%) | 586,395 | 2.2% |
| Panview Capital Ltd | Elite Conviction | Minimal Flow | $49,171,941 (0.2%) | 573,300 | - |
| Blackstone Inc. | High Conviction | Moderate Flow | $48,692,487 (0.2%) | 567,710 | 82.1% |
| CI MUTUAL FUNDS INC | High Conviction | Significant Flow | $47,551,746 (0.2%) | 554,410 | 62,104.7% |
| HIGHTOWER ADVISORS, LLC | High Conviction | Significant Flow | $44,034,249 (0.2%) | 513,399 | -3.4% |
| SUSQUEHANNA BROKERAGE, L.P. | Moderate Conviction | Moderate Flow | $43,892,969 (0.2%) | 511,752 | 40.1% |
| NOMURA HOLDINGS INC | Moderate Conviction | Significant Flow | $43,742,700 (0.2%) | 510,000 | -40.4% |
| BARRY INVESTMENT ADVISORS, LLC | High Conviction | Minimal Flow | $42,372,866 (0.2%) | 494,029 | 4.7% |
| TRUIST FINANCIAL CORP | High Conviction | Significant Flow | $42,105,077 (0.2%) | 490,907 | -6.8% |
| FIL LTD | High Conviction | Significant Flow | $41,444,750 (0.2%) | 483,208 | 363.8% |
| TOCQUEVILLE ASSET MANAGEMENT LP | High Conviction | Moderate Flow | $41,212,657 (0.2%) | 480,502 | 8.7% |
| VALIANT CAPITAL MANAGEMENT, L.P. | High Conviction | Low Flow | $39,806,200 (0.1%) | 464,104 | 2.2% |
| CAPTION MANAGEMENT, LLC | Moderate Conviction | Significant Flow | $38,339,190 (0.1%) | 447,000 | 90.5% |
| BLUECREST CAPITAL MANAGEMENT LTD | Moderate Conviction | Low Flow | $36,088,757 (0.1%) | 420,762 | -11.4% |
| WALLEYE TRADING ADVISORS, LLC | Moderate Conviction | Significant Flow | $35,721,232 (0.1%) | 416,477 | 13.4% |
| SHUFRO ROSE EHRMAN | High Conviction | Low Flow | $34,270,922 (0.1%) | 399,568 | 89.9% |
| BRADLEY FOSTER & SARGENT INC/CT | High Conviction | Moderate Flow | $33,959,516 (0.1%) | 395,937 | 10.5% |
| PRIVATE ADVISOR GROUP, LLC | High Conviction | Significant Flow | $32,399,764 (0.1%) | 377,751 | 5.9% |
| VOLTERRA TECHNOLOGIES LP | Moderate Conviction | Low Flow | $30,825,738 (0.1%) | 359,400 | NEW |
| DAVID R. RAHN & ASSOCIATES INC. | High Conviction | Minimal Flow | $30,560,322 (0.1%) | 356,305 | -5.4% |
| WESTWOOD HOLDINGS GROUP INC | High Conviction | Moderate Flow | $30,178,089 (0.1%) | 351,849 | 31.3% |
| FORE CAPITAL, LLC | High Conviction | Minimal Flow | $29,590,650 (0.1%) | 345,000 | 365.5% |
| CIBC WORLD MARKETS INC. | High Conviction | Significant Flow | $29,184,014 (0.1%) | 340,259 | -42.8% |
| CLEARWATER CAPITAL PARTNERS, LLC | High Conviction | Low Flow | $28,341,078 (0.1%) | 330,431 | 4.9% |
| BLACKROCK FUNDING, INC. /DE | High Conviction | Market Mover | $28,057,195 (0.1%) | 327,121 | 12.5% |
| BLAIR WILLIAM & CO/IL | High Conviction | Significant Flow | $28,015,102 (0.1%) | 326,631 | 12.8% |
| SYON CAPITAL LLC | High Conviction | Low Flow | $26,234,578 (0.1%) | 305,871 | 8.6% |
| WHITE BAY PT LLC | High Conviction | Low Flow | $26,065,589 (0.1%) | 303,901 | NEW |
| PROSPERA FINANCIAL SERVICES | High Conviction | Moderate Flow | $25,390,379 (0.1%) | 296,011 | 10.0% |
| KESTRA PRIVATE WEALTH SERVICES, LLC | High Conviction | Moderate Flow | $25,107,877 (0.1%) | 292,735 | 6.5% |
| MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. | High Conviction | Significant Flow | $24,763,772 (0.1%) | 288,723 | 1,161.2% |
| VERSANT CAPITAL MANAGEMENT, INC | High Conviction | Low Flow | $24,025,733 (0.1%) | 280,118 | 28.9% |
| FOREST HILL CAPITAL, LLC | Elite Conviction | Minimal Flow | $23,972,715 (0.1%) | 279,500 | 12.3% |
| BREVAN HOWARD CAPITAL MANAGEMENT LP | High Conviction | Significant Flow | $23,675,412 (0.1%) | 272,053 | -88.4% |
| GROUP ONE TRADING, L.P. | Moderate Conviction | Significant Flow | $23,031,218 (0.1%) | 268,523 | 854.3% |
| MOORE CAPITAL MANAGEMENT, LP | High Conviction | Moderate Flow | $22,433,658 (0.1%) | 261,556 | 62.8% |
| Richmond Investment Services, LLC (CIK 0002031991) | High Conviction | Minimal Flow | $21,556,514 (0.1%) | 251,328 | 14.1% |
| JONES FINANCIAL COS LP | Elite Conviction | Market Mover | $21,507,787 (0.1%) | 250,761 | 34.7% |
| FWL INVESTMENT MANAGEMENT, LLC | High Conviction | Low Flow | $21,475,882 (0.1%) | 250,389 | 6.6% |
| U.S. CAPITAL WEALTH ADVISORS, LLC | High Conviction | Moderate Flow | $21,258,943 (0.1%) | 247,860 | 7.5% |
| SIMPLEX TRADING, LLC | Moderate Conviction | Market Mover | $21,237,938 (0.1%) | 247,615 | NEW |
Implied Institutional Price History
Estimated from 13F aggregate market value ÷ shares reported across all institutional filers. Reflects quarter-end snapshot, not actual trade prices.
| Quarter | Filers | Institutional Value | Shares Held | Est. Avg Price |
|---|---|---|---|---|
| Q4 25 | 1,134 | $27.00B | 316,230,153 | $85.40 |
| Q3 25 | 1,052 | $26.85B | 355,019,518 | $75.63 |
| Q2 25 | 935 | $14.45B | 285,153,736 | $50.67 |
| Q1 25 | 901 | $15.16B | 338,961,562 | $44.71 |
| Q4 24 | 838 | $13.32B | 410,700,476 | $32.43 |
| Q3 24 | 852 | $16.11B | 435,822,325 | $36.96 |
| Q2 24 | 810 | $12.85B | 402,222,803 | $31.96 |
| Q1 24 | 793 | $13.04B | 425,734,994 | $30.63 |
Source: SEC 13F-HR filings. Implied price = aggregate market value ÷ shares reported. Not investment advice.