Galiano Gold

GAU • AMEX

Galiano Gold is a gold company in the basic materials sector on AMEX, led by Matt Badylak, with a market cap of $670.3M. As of Q3 2025, 58% of shares are held by 83 institutional investors, with DONALD SMITH & CO., INC. as the largest holder at 9.33%.

CEOMatt Badylak

Market Cap$670.3M

Gold

Basic Materials

Employees391.0

Websitegalianogold.com

Overview

Overview of institutional ownership in GAU as of Q3 2025 with a market cap of $566.1M

All Institutions

Institutions: 83
Value Held: $328.5M
Shares Held: 150.4M
Avg Position: $4.0M
Median Position: $486.0K

Hedge Funds

Hedge Funds: 18
Value Held: $86.2M
Shares Held: 39.5M
Avg Position: $4.8M
Median Position: $1.1M

Ownership Breakdown

Institutional (non-HF)

42.8%

$242.3M

Hedge Funds

15.24%

$86.2M

Retail & Other

41.96%

$237.5M

Based on market cap of $566.1M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in GAU as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
DONALD SMITH & CO., INC. Long Only Manager	Richard Lawrence Greenberg CEO	$52.8M 1.05% of portfolio	9.33% 24.1M shares	Q2 2015 Held for 10y 5m	$5.0B
R Ruffer LLP Long Only Manager	Miranda Jane Best CEO	$36.2M 2.01% of portfolio	6.43% 16.6M shares	Q4 2018 Held for 6y 11m	$1.8B
MASON HILL ADVISORS LLC Hedge Fund•Value	Sean Michael Fieler President	$34.3M 18.49% of portfolio	6.08% 15.7M shares	Q2 2020 Held for 5y 5m	$185.2M
FRANKLIN RESOURCES INC Institution	Gregory E. Johnson CEO	$23.6M 0.01% of portfolio	4.19% 10.8M shares	Q1 2017 Held for 8y 8m	$395.36B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$16.5M 0.00% of portfolio	2.92% 7.6M shares	Q1 2024 Held for 1y 8m	$1.33T
P Pale Fire Capital SE Institution	-	$14.6M 1.60% of portfolio	2.58% 6.7M shares	Q1 2025 Held for 8 months	$912.4M
AEGIS FINANCIAL CORP Long Only Manager	Scott Lon Barbee President	$14.5M 5.55% of portfolio	2.58% 6.7M shares	Q3 2024 Held for 1y 2m	$261.3M
Hillsdale Investment Management Inc. Long Only Manager	Albert Christopher Guthrie CEO	$11.5M 0.34% of portfolio	2.05% 5.3M shares	Q3 2025 Held for 2 months	$3.3B
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$11.3M 0.01% of portfolio	2.00% 5.2M shares	Q2 2025 Held for 5 months	$158.92B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$9.0M 0.01% of portfolio	1.59% 4.1M shares	Q4 2022 Held for 2y 11m	$122.08B

Net Capital Flow

Institutional buying and selling activity for GAU in Q3 2025

Traded: +$54.2M
Buyers: 65
Sellers: 15
Total Bought: +$119.8M
Total Sold: −$65.6M
Avg Position: $3.7M

Biggest Buyers

Institution	Net Bought	Current Position
BANK OF AMERICA CORP /DE/ Institution	+$13.6M +6.2M shares	$16.5M 7.6M shares
Hillsdale Investment Management Inc. Long Only Manager	+$11.5M +5.3M shares	$11.5M 5.3M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$11.0M +5.0M shares	$11.3M 5.2M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$8.4M +3.8M shares	$8.5M 3.9M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$7.4M +3.4M shares	$9.0M 4.1M shares
FRANKLIN RESOURCES INC Institution	+$7.3M +3.3M shares	$23.6M 10.8M shares
J JANE STREET GROUP, LLC Institution	+$6.8M +3.1M shares	$7.1M 3.2M shares
Marshall Wace LLP Institution	+$5.3M +2.4M shares	$7.6M 3.5M shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	+$4.6M +2.1M shares	$4.6M 2.1M shares
D D. E. Shaw & Co., Inc. Institution	+$4.4M +2.0M shares	$4.4M 2.0M shares

Biggest Sellers

Institution	Net Sold	Current Position
MASON HILL ADVISORS LLC Hedge Fund•Value	−$29.7M −13.6M shares	$34.3M 15.7M shares
GOLDMAN SACHS GROUP INC Institution	−$21.0M −9.6M shares	$3.0M 1.4M shares
R Ruffer LLP Long Only Manager	−$5.1M −2.3M shares	$36.2M 16.6M shares
DONALD SMITH & CO., INC. Long Only Manager	−$3.1M −1.4M shares	$52.8M 24.1M shares
VAN ECK ASSOCIATES CORP ETF Provider	−$2.2M −997.0K shares	$8.6M 3.9M shares
BANK OF MONTREAL /CAN/ Institution	−$1.9M −860.4K shares	$486.0K 223.3K shares
S STIFEL FINANCIAL CORP Long Only Manager	−$1.5M −1.2M shares	Sold Off 0 shares
D De Lisle Partners LLP Institution	−$809.0K −372.0K shares	$964.5K 443.5K shares
V Virtu Financial LLC Institution	−$199.5K −157.1K shares	Sold Off 0 shares
O OXFORD ASSET MANAGEMENT Institution	−$199.0K −156.7K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited GAU in Q3 2025

New Positions: 26
New Value: $13.8M
Exited Positions: 5
Exited Value: $1.9M

New Positions

Institution	Position Value
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$4.6M 2.1M shares
Castle Hook Partners LP Hedge Fund•Global Macro	$2.6M 1.2M shares
F Forge First Asset Management Inc. Institution	$2.2M 1.0M shares
Jain Global LLC Hedge Fund•Multi-Strategy	$881.0K 404.9K shares
Frigate Ventures LP RIA/Wealth	$653.0K 300.0K shares
M MMCAP International Inc. SPC Institution	$544.3K 250.0K shares
N Northwest & Ethical Investments L.P. Institution	$331.8K 152.4K shares
P PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO Institution	$279.2K 128.2K shares
T Timelo Investment Management Inc. Institution	$273.8K 125.0K shares
STATE STREET CORP Institution	$254.5K 116.2K shares

Exited Positions

Institution	Previous Position
S STIFEL FINANCIAL CORP Long Only Manager	$1.5M 1.2M shares
V Virtu Financial LLC Institution	$199.5K 157.1K shares
O OXFORD ASSET MANAGEMENT Institution	$199.0K 156.7K shares
Artisan Partners Limited Partnership Long Only Manager	$38.1K 30.0K shares
T Tower Research Capital LLC Institution	$3.9K 3.1K shares

Options Activity

Institutions with the largest Call and Put options positions in GAU as of Q3 2025

Call Positions: 3
Call Value: $166.3K
Put Positions: 4
Put Value: $591.1K

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$95.3K 435.0 contracts
W WOLVERINE TRADING, LLC Institution	$40.5K 181.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$30.4K 139.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$250.3K 1.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$247.9K 1.1K contracts
W WOLVERINE TRADING, LLC Institution	$61.8K 276.0 contracts
J JANE STREET GROUP, LLC Institution	$31.1K 142.0 contracts

Most Committed Institutions

Institutions with GAU as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
MASON HILL ADVISORS LLC Hedge Fund•Value	Sean Michael Fieler President	18.49% $34.3M	6.08% 15.7M shares	Q2 2020 Held for 5y 5m	$185.2M
AEGIS FINANCIAL CORP Long Only Manager	Scott Lon Barbee President	5.55% $14.5M	2.58% 6.7M shares	Q3 2024 Held for 1y 2m	$261.3M
R Ruffer LLP Long Only Manager	Miranda Jane Best CEO	2.01% $36.2M	6.43% 16.6M shares	Q4 2018 Held for 6y 11m	$1.8B
P Pale Fire Capital SE Institution	-	1.60% $14.6M	2.58% 6.7M shares	Q1 2025 Held for 8 months	$912.4M
DONALD SMITH & CO., INC. Long Only Manager	Richard Lawrence Greenberg CEO	1.05% $52.8M	9.33% 24.1M shares	Q2 2015 Held for 10y 5m	$5.0B
F Forge First Asset Management Inc. Institution	-	1.04% $2.2M	0.39% 1.0M shares	Q3 2025 Held for 2 months	$208.7M
T Timelo Investment Management Inc. Institution	-	0.46% $273.8K	0.05% 125.0K shares	Q3 2025 Held for 2 months	$59.3M
Hillsdale Investment Management Inc. Long Only Manager	Albert Christopher Guthrie CEO	0.34% $11.5M	2.05% 5.3M shares	Q3 2025 Held for 2 months	$3.3B
O Orvieto Partners, L.P. Hedge Fund•Value	Timothy Garrett Caffrey Partner	0.19% $219.0K	0.04% 100.0K shares	Q3 2025 Held for 2 months	$118.0M
D De Lisle Partners LLP Institution	-	0.12% $964.5K	0.17% 443.5K shares	Q2 2024 Held for 1y 5m	$815.6M

Hedge Fund Spotlight

Discover hedge funds investing in GAU

Centiva Capital, LP

Hedge Fund • Multi-Strategy

Portfolio ManagerTimothy Michael Higgins

Portfolio Value: $1.1B
Positions: 556
Last Reported: Q3 2025

Sector Allocation

Position in Galiano Gold

Market Value: $478.4K
Shares Held: 218.5K
Portfolio Weight: 0.04%
Owned Since: 2025-Q3

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