VanEck Junior Gold Miners

GDXJ • ARCA

VanEck Junior Gold Miners is an exchange-traded fund on ARCA. As of Q3 2025, 388 institutional investors hold shares in this ETF, with total holdings valued at $3.7B. BANK OF MONTREAL /CAN/ is the largest holder with a position valued at $383.3M.

Overview

Overview of institutional ownership in GDXJ as of Q3 2025

All Institutions

Institutions: 388
Value Held: $3.7B
Shares Held: 37.6M
Avg Position: $9.6M
Median Position: $648.4K

Hedge Funds

Hedge Funds: 23
Value Held: $388.8M
Shares Held: 3.9M
Avg Position: $16.9M
Median Position: $2.2M

Biggest Investors

Institutions with the largest positions in GDXJ as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$383.3M 0.17% of portfolio	3.9M shares	Q3 2013 Held for 12y 3m	$227.19B
UBS Group AG Institution	Sergio P. Ermotti CEO	$311.1M 0.06% of portfolio	3.1M shares	Q4 2014 Held for 11 years	$511.60B
CITIGROUP INC Institution	Jane Fraser CEO	$296.3M 0.21% of portfolio	3.0M shares	Q3 2013 Held for 12y 3m	$144.32B
B BESSEMER GROUP INC Institution	-	$281.9M 0.44% of portfolio	2.8M shares	Q1 2021 Held for 4y 9m	$64.4B
Exor Investments LLP Hedge Fund•Long/Short	Enrico Vellano CEO	$255.8M 4.84% of portfolio	2.6M shares	Q4 2020 Held for 5 years	$5.3B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$214.0M 0.01% of portfolio	2.2M shares	≤ Q2 2013 Held for 12y 6m+	$1.65T
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$196.3M 0.03% of portfolio	2.0M shares	Q3 2024 Held for 1y 3m	$633.08B
B BNP PARIBAS ARBITRAGE, SA Institution	-	$134.2M 0.11% of portfolio	1.4M shares	≤ Q2 2013 Held for 12y 6m+	$126.09B
R Rafferty Asset Management, LLC Institution	Douglas Michael Yones CEO	$133.3M 0.43% of portfolio	1.3M shares	Q4 2013 Held for 12 years	$30.8B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$86.9M 0.02% of portfolio	877.4K shares	≤ Q2 2013 Held for 12y 6m+	$488.52B

Net Capital Flow

Institutional buying and selling activity for GDXJ in Q3 2025

Traded: +$388.9M
Buyers: 192
Sellers: 128
Total Bought: +$746.0M
Total Sold: −$357.2M
Avg Position: $8.8M

Biggest Buyers

Institution	Net Bought	Current Position
BANK OF MONTREAL /CAN/ Institution	+$212.9M +2.1M shares	$383.3M 3.9M shares
CITIGROUP INC Institution	+$204.6M +2.1M shares	$296.3M 3.0M shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$48.4M +488.9K shares	$134.2M 1.4M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$46.1M +465.7K shares	$58.8M 593.3K shares
MORGAN STANLEY RIA/Wealth	+$43.7M +441.6K shares	$214.0M 2.2M shares
WELLS FARGO & COMPANY/MN Institution	+$25.7M +259.3K shares	$86.9M 877.4K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	+$16.6M +167.2K shares	$48.5M 489.7K shares
Foundations Investment Advisors, LLC RIA/Wealth	+$7.7M +78.2K shares	$7.7M 78.2K shares
ABBINGTON INVESTMENT GROUP RIA/Wealth	+$7.7M +77.9K shares	$7.7M 77.9K shares
G Gemsstock Ltd. RIA/Wealth	+$7.2M +72.5K shares	$36.2M 365.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
R ROYAL BANK OF CANADA Institution	−$82.9M −836.7K shares	$77.7M 784.9K shares
T TEACHER RETIREMENT SYSTEM OF TEXAS Institution	−$41.6M −420.0K shares	$36.0M 364.0K shares
N Nearwater Capital Markets, Ltd Institution	−$24.8M −250.0K shares	$85.2M 860.0K shares
R Rafferty Asset Management, LLC Institution	−$23.5M −237.3K shares	$133.3M 1.3M shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$14.5M −146.0K shares	$13.8M 139.0K shares
Heartwood Wealth Advisors LLC RIA/Wealth	−$12.3M −124.6K shares	$52.0M 525.0K shares
P Panview Capital Ltd Institution	−$10.9M −110.0K shares	$53.3M 538.2K shares
Eschler Asset Management LLP Hedge Fund•Long/Short	−$9.3M −94.2K shares	$5.5M 55.8K shares
Puplava Financial Services, Inc. RIA/Wealth	−$8.7M −128.5K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$8.6M −87.3K shares	$3.1M 31.4K shares

Entry and Exit Activity

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

New Positions: 37
New Value: $41.5M
Exited Positions: 34
Exited Value: $57.5M

New Positions

Institution	Position Value
Foundations Investment Advisors, LLC RIA/Wealth	$7.7M 78.2K shares
ABBINGTON INVESTMENT GROUP RIA/Wealth	$7.7M 77.9K shares
Financially Speaking Inc RIA/Wealth	$6.7M 67.2K shares
Garden State Investment Advisory Services LLC RIA/Wealth	$3.0M 30.6K shares
HOHIMER WEALTH MANAGEMENT, LLC RIA/Wealth	$2.8M 28.1K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$2.2M 22.3K shares
Camarda Wealth Advisory Group, LLLP RIA/Wealth	$2.1M 21.4K shares
Everstar Asset Management, LLC Hedge Fund•Multi-Strategy	$2.1M 20.9K shares
M Massar Capital Management, LP Institution	$940.8K 9.5K shares
W Wise Wealth Partners RIA/Wealth	$633.5K 6.4K shares

Exited Positions

Institution	Previous Position
Puplava Financial Services, Inc. RIA/Wealth	$8.7M 128.5K shares
Marshall Wace LLP Institution	$7.6M 112.5K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$6.6M 97.5K shares
J Jump Financial, LLC Institution	$6.2M 91.8K shares
C Concentric Capital Strategies, LP Hedge Fund•Long/Short	$4.1M 61.1K shares
A ANTIPODES PARTNERS Ltd Hedge Fund•Long/Short	$4.0M 58.5K shares
G GeoSphere Capital Management Hedge Fund•Long/Short	$2.9M 42.7K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$2.2M 32.1K shares
Walleye Trading LLC RIA/Wealth	$2.0M 29.0K shares
T TWO SIGMA SECURITIES, LLC Institution	$1.9M 28.3K shares

Options Activity

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

Call Positions: 24
Call Value: $591.2M
Put Positions: 25
Put Value: $674.6M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$176.3M 17.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$89.4M 9.0K contracts
J JANE STREET GROUP, LLC Institution	$63.5M 6.4K contracts
W WOLVERINE TRADING, LLC Institution	$48.2M 4.9K contracts
C Cubist Systematic Strategies, LLC Institution	$35.1M 3.5K contracts
BlackRock, Inc. Institution	$34.2M 3.5K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$32.7M 3.3K contracts
CITIGROUP INC Institution	$28.2M 2.9K contracts
P SCHOENFELD ASSET MANAGEMENT LP Hedge Fund•Event Driven	$19.8M 2.0K contracts
Walleye Trading LLC RIA/Wealth	$18.7M 1.9K contracts

Put Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$158.6M 16.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$153.6M 15.5K contracts
Marshall Wace LLP Institution	$88.8M 9.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$83.7M 8.5K contracts
Walleye Trading LLC RIA/Wealth	$32.6M 3.3K contracts
C Cubist Systematic Strategies, LLC Institution	$27.3M 2.8K contracts
CITIGROUP INC Institution	$18.8M 1.9K contracts
WELLS FARGO & COMPANY/MN Institution	$17.3M 1.7K contracts
B Belvedere Trading LLC Institution	$16.4M 1.7K contracts
A Amitell Capital Pte Ltd Institution	$14.0M 1.4K contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
P Panview Capital Ltd Institution	-	22.67% $53.3M	538.2K shares	Q4 2024 Held for 1 year	$235.1M
G Gemsstock Ltd. RIA/Wealth	Susan Michelle Williams President	9.53% $36.2M	365.9K shares	Q2 2024 Held for 1y 6m	$380.1M
F Freemont Management S.A. Institution	-	7.12% $8.9M	90.0K shares	Q3 2024 Held for 1y 3m	$125.1M
ABBINGTON INVESTMENT GROUP RIA/Wealth	Grace Yuan Mei Toh Founder	6.61% $7.7M	77.9K shares	Q3 2025 Held for 3 months	$116.8M
L Lonestar Capital Management LLC Institution	-	6.50% $8.3M	84.0K shares	Q2 2025 Held for 6 months	$128.0M
Financially Speaking Inc RIA/Wealth	Philip Henry Luccock President	6.11% $6.7M	67.2K shares	Q3 2025 Held for 3 months	$109.0M
Heartwood Wealth Advisors LLC RIA/Wealth	Wesley Brent Kaufman Managing Partner	5.03% $52.0M	525.0K shares	Q4 2019 Held for 6 years	$1.0B
I INTREPID FAMILY OFFICE LLC Institution	-	4.84% $5.0M	50.0K shares	Q2 2025 Held for 6 months	$102.3M
Exor Investments LLP Hedge Fund•Long/Short	Enrico Vellano CEO	4.84% $255.8M	2.6M shares	Q4 2020 Held for 5 years	$5.3B
Eschler Asset Management LLP Hedge Fund•Long/Short	Theron De Ris Member	4.36% $5.5M	55.8K shares	Q4 2021 Held for 4 years	$126.7M

Hedge Fund Spotlight

Discover hedge funds investing in GDXJ

CAPITAL FUND MANAGEMENT S.A.

Hedge Fund • Quant Macro

Portfolio ManagerJacques Charles Sauliere

Portfolio Value: $10.0B
Positions: 792
Last Reported: Q3 2025

Sector Allocation

Position in VanEck Junior Gold Miners

Market Value: $6.1M
Shares Held: 61.6K
Portfolio Weight: 0.06%
Owned Since: 2018-Q3

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$297.1M	2.97%
2 Apple AAPL	Consumer Electronics Technology	$288.4M	2.88%
3 Tesla, Inc. TSLA	Auto - Manufacturers Consumer Cyclical	$283.0M	2.82%