abrdn Physical Gold Shares

SGOL • ARCA

abrdn Physical Gold Shares is a commodity contracts brokers & dealers company on ARCA. As of Q3 2025, 368 institutional investors hold shares in this company, with total holdings valued at $2.0B. Metis Global Partners, LLC is the largest holder with a position valued at $250.6M.

COMMODITY CONTRACTS BROKERS & DEALERS

Country

United States of America

Overview

Overview of institutional ownership in SGOL as of Q3 2025

All Institutions

Institutions: 368
Value Held: $2.0B
Shares Held: 55.4M
Avg Position: $5.5M
Median Position: $661.9K

Hedge Funds

Hedge Funds: 9
Value Held: $70.7M
Shares Held: 1.9M
Avg Position: $7.9M
Median Position: $9.2M

Biggest Investors

Institutions with the largest positions in SGOL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Metis Global Partners, LLC RIA/Wealth	Machel Lee Allen CIO	$250.6M 5.90% of portfolio	0.00% 6.8M shares	Q2 2023 Held for 2y 5m	$4.2B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$152.0M 0.01% of portfolio	0.00% 4.1M shares	Q2 2023 Held for 2y 5m	$1.56T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$137.8M 0.01% of portfolio	0.00% 3.7M shares	Q4 2022 Held for 2y 11m	$1.33T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$108.6M 0.02% of portfolio	0.00% 2.9M shares	Q4 2022 Held for 2y 11m	$488.50B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$80.8M 0.00% of portfolio	0.00% 2.2M shares	Q4 2022 Held for 2y 11m	$1.65T
HighTower Advisors, LLC RIA/Wealth	Robert David Oros CEO	$68.7M 0.08% of portfolio	0.00% 1.9M shares	Q4 2024 Held for 11 months	$87.7B
L LPL Financial LLC Institution	-	$64.7M 0.02% of portfolio	0.00% 1.8M shares	Q4 2022 Held for 2y 11m	$340.07B
UBS Group AG Institution	Sergio P. Ermotti CEO	$62.3M 0.01% of portfolio	0.00% 1.7M shares	Q4 2022 Held for 2y 11m	$511.54B
Almanack Investment Partners, LLC. RIA/Wealth	Megen Ann Hemdal COO	$38.7M 6.67% of portfolio	0.00% 1.1M shares	Q2 2019 Held for 6y 5m	$580.5M
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$38.6M 0.01% of portfolio	0.00% 1.0M shares	Q4 2022 Held for 2y 11m	$341.99B

Net Capital Flow

Institutional buying and selling activity for SGOL in Q3 2025

Traded: −$1.5B
Buyers: 163
Sellers: 125
Total Bought: +$235.8M
Total Sold: −$1.7B
Avg Position: $5.2M

Biggest Buyers

Institution	Net Bought	Current Position
Metis Global Partners, LLC RIA/Wealth	+$52.8M +1.4M shares	$250.6M 6.8M shares
MAI Wealth Advisors RIA/Wealth	+$18.8M +511.5K shares	$20.3M 551.6K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	+$17.3M +26.3K shares	$17.3M 470.1K shares
Global View Capital Management LLC RIA/Wealth	+$15.9M +431.5K shares	$18.1M 492.7K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$14.9M +405.8K shares	$14.9M 405.8K shares
L LPL Financial LLC Institution	+$13.9M +377.1K shares	$64.7M 1.8M shares
Almanack Investment Partners, LLC. RIA/Wealth	+$9.5M +257.9K shares	$38.7M 1.1M shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$9.3M +253.4K shares	$9.6M 259.6K shares
K Kensington Asset Management, LLC Institution	+$6.3M +170.7K shares	$6.3M 170.7K shares
Cetera Investment Advisers RIA/Wealth	+$5.8M +157.4K shares	$20.8M 566.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
N NBT BANK N A /NY Institution	−$1.6B −56.8K shares	$2.1M 74.0 shares
Q Quadrature Capital Ltd Institution	−$32.5M −881.8K shares	$12.3M 334.2K shares
JPMORGAN CHASE & CO Institution	−$13.9M −378.5K shares	$152.0M 4.1M shares
Eqis Capital Management, Inc. RIA/Wealth	−$12.8M −406.2K shares	Sold Off 0 shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$11.3M −305.8K shares	$10.3M 280.8K shares
C Capitolis Liquid Global Markets LLC Private Equity	−$9.2M −292.9K shares	Sold Off 0 shares
J Jump Financial, LLC Institution	−$4.1M −131.3K shares	Sold Off 0 shares
Kestra Advisory Services, LLC RIA/Wealth	−$3.3M −89.0K shares	$18.8M 511.1K shares
Worth Asset Management, LLC RIA/Wealth	−$2.7M −74.1K shares	$2.6M 70.1K shares
Foundations Investment Advisors, LLC RIA/Wealth	−$2.2M −61.1K shares	$341.1K 9.3K shares

Entry and Exit Activity

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

New Positions: 26
New Value: $25.5M
Exited Positions: 21
Exited Value: $33.2M

New Positions

Institution	Position Value
MML INVESTORS SERVICES, LLC RIA/Wealth	$17.3M 470.1K shares
C Centurion Wealth Management LLC Institution	$3.5M 94.3K shares
P Point72 Asia Pte. Ltd. Institution	$618.4K 16.8K shares
C Cardinal Point Capital Management, ULC Hedge Fund•Value	$460.1K 11.7K shares
COZAD ASSET MANAGEMENT INC RIA/Wealth	$427.0K 11.6K shares
Cypress Point Wealth Management, LLC RIA/Wealth	$379.8K 10.3K shares
BARCLAYS PLC Institution	$323.6K 8.8K shares
BB&T CORP Institution	$310.7K 8.4K shares
Independent Wealth Network Inc. RIA/Wealth	$274.5K 7.5K shares
Decker Retirement Planning Inc. RIA/Wealth	$259.7K 7.1K shares

Exited Positions

Institution	Previous Position
Eqis Capital Management, Inc. RIA/Wealth	$12.8M 406.2K shares
C Capitolis Liquid Global Markets LLC Private Equity	$9.2M 292.9K shares
J Jump Financial, LLC Institution	$4.1M 131.3K shares
Financial Advocates Investment Management RIA/Wealth	$1.2M 39.6K shares
T TWO SIGMA SECURITIES, LLC Institution	$1.1M 33.6K shares
Warren Street Wealth Advisors, LLC RIA/Wealth	$920.7K 29.2K shares
T TABLEAUX LLC Institution	$910.2K 1.7K shares
Efficient Advisors, LLC RIA/Wealth	$874.4K 27.7K shares
Castleview Partners, LLC RIA/Wealth	$705.2K 22.4K shares
S Strategic Financial Concepts, LLC RIA/Wealth	$370.7K 14.6K shares

Options Activity

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

Call Positions: 5
Call Value: $10.0M
Put Positions: 3
Put Value: $909.8K

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.5M 1.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.6M 695.0 contracts
W WOLVERINE TRADING, LLC Institution	$1.6M 426.0 contracts
J JANE STREET GROUP, LLC Institution	$1.4M 388.0 contracts
Pensionmark Financial Group, LLC Pension/Endowment	$11.0K - contracts

Put Positions

Institution	Position Value
W WOLVERINE TRADING, LLC Institution	$372.4K 102.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$287.1K 78.0 contracts
J JANE STREET GROUP, LLC Institution	$250.3K 68.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Mountain Lake Investment Management LLC Hedge Fund•Value	Philip Charles Mittleman CEO	12.59% $16.9M	0.00% 459.1K shares	Q2 2024 Held for 1y 5m	$134.3M
PURE PORTFOLIOS HOLDINGS LLC RIA/Wealth	Nikolaas Daby Schuurmans Managing Partner	11.68% $37.4M	0.00% 1.0M shares	Q3 2024 Held for 1y 2m	$319.8M
Almanack Investment Partners, LLC. RIA/Wealth	Megen Ann Hemdal COO	6.67% $38.7M	0.00% 1.1M shares	Q2 2019 Held for 6y 5m	$580.5M
Ameliora Wealth Management Ltd. RIA/Wealth	Stefan Thomas Demuth CEO	6.23% $18.7M	0.00% 508.1K shares	Q4 2022 Held for 2y 11m	$300.1M
Metis Global Partners, LLC RIA/Wealth	Machel Lee Allen CIO	5.90% $250.6M	0.00% 6.8M shares	Q2 2023 Held for 2y 5m	$4.2B
WT Wealth Management RIA/Wealth	John Kenneth Heilner CIO	5.00% $17.3M	0.00% 468.8K shares	Q4 2022 Held for 2y 11m	$344.9M
Luminist Capital LLC RIA/Wealth	Justin John Biebel CIO	4.95% $5.1M	0.00% 138.3K shares	Q4 2024 Held for 11 months	$103.0M
Towneley Capital Management, Inc / DE RIA/Wealth	Ernest Daniel Garrett President	4.86% $22.4M	0.00% 607.3K shares	Q4 2023 Held for 1y 11m	$460.4M
Global View Capital Management LLC RIA/Wealth	Dina Louise Fliss President	4.78% $18.1M	0.00% 492.7K shares	Q4 2024 Held for 11 months	$379.4M
Cypress Capital, LLC RIA/Wealth	Laura Fonzo Brooks CCO	3.72% $11.8M	0.00% 320.6K shares	Q2 2022 Held for 3y 5m	$317.1M