Who owns VanEck Gold Miners ETF (GDX)
Which tracked institutional funds hold GDX, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See GDX company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-02). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on GDX is one-sided between 2026-Q1 and 2026-Q2: 125 added or opened and 476 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
GDX’s largest tracked holder by dollar value, BANK OF MONTREAL /CAN/, sizes it at 0.7% of its own reported 13F book, while the median holder sizes it at 0.2% of theirs — a 0.5pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in GDX divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 1070 tracked filers holding GDX, 442 increased or opened the position and 604 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in GDX between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 48
- Blue Sparrow, LLC /DE$294M
- JANE STREET GROUP, LLC$175M
- Temasek Holdings (Private) Ltd$68M
- Quadrature Capital Ltd$62M
- Cable Car Capital, LP$52M
- Woodline Partners LP$34M
Full exits 78
- MENORA MIVTACHIM HOLDINGS LTD.$84M
- WT Asset Management Ltd$47M
- WELLINGTON MANAGEMENT GROUP LLP$46M
- Brevan Howard Capital Management LP$46M
- HighTower Advisors, LLC$44M
- Cambridge Investment Research Advisors, Inc.$33M
Largest adds
- D. E. Shaw & Co., Inc.$237M
- MORGAN STANLEY$191M
- Nearwater Capital Markets, Ltd$185M
- TWO SIGMA INVESTMENTS, LP$131M
- TORONTO DOMINION BANK$61M
- CITIGROUP INC$56M
Largest trims
- GOLDMAN SACHS GROUP INC$324M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$301M
- JPMORGAN CHASE & CO$270M
- BANK OF MONTREAL /CAN/$236M
- NATIONAL BANK OF CANADA /FI/$151M
- BANK OF NOVA SCOTIA$139M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BANK OF MONTREAL /CAN/ added | 24,332,431 | $1.8B | 16.2% | 2026-Q2 |
| MORGAN STANLEY added | 16,420,795 | $1.2B | 10.9% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 9,039,170 | $682M | 6.0% | 2026-Q2 |
| UBS Group AG added | 8,266,445 | $624M | 5.5% | 2026-Q2 |
| Rafferty Asset Management, LLC added | 6,960,342 | $525M | 4.6% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 5,655,338 | $427M | 3.8% | 2026-Q2 |
| CITIGROUP INC added | 4,159,466 | $314M | 2.8% | 2026-Q2 |
| Blue Sparrow, LLC /DE new | 3,901,700 | $294M | 2.6% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 3,715,926 | $280M | 2.5% | 2026-Q2 |
| LPL Financial LLC added | 3,565,654 | $269M | 2.4% | 2026-Q2 |
| Nearwater Capital Markets, Ltd added | 3,551,500 | $268M | 2.4% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 3,085,882 | $233M | 2.0% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 2,764,107 | $209M | 1.8% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 2,584,391 | $195M | 1.7% | 2026-Q2 |
| JANE STREET GROUP, LLC trimmed | 2,317,941 | $175M | 1.5% | 2026-Q2 |
| BARCLAYS PLC added | 2,259,588 | $170M | 1.5% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 1,988,529 | $150M | 1.3% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 1,774,066 | $134M | 1.2% | 2026-Q2 |
| Jain Global LLC added | 1,487,777 | $112M | 1.0% | 2026-Q2 |
| Migdal Insurance & Financial Holdings Ltd. added | 1,480,000 | $112M | 1.0% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 1,452,459 | $110M | 1.0% | 2026-Q2 |
| BANK OF NOVA SCOTIA trimmed | 1,427,370 | $108M | 0.9% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC added | 1,405,199 | $106M | 0.9% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 1,374,302 | $104M | 0.9% | 2026-Q2 |
| NATIONAL BANK OF CANADA /FI/ trimmed | 1,211,809 | $91M | 0.8% | 2026-Q2 |
| GTS SECURITIES LLC added | 1,076,600 | $81M | 0.7% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 1,052,042 | $79M | 0.7% | 2026-Q2 |
| Vanderbilt University added | 1,030,200 | $78M | 0.7% | 2026-Q2 |
| MEITAV INVESTMENT HOUSE LTD trimmed | 958,200 | $72M | 0.6% | 2026-Q2 |
| Temasek Holdings (Private) Ltd new | 906,800 | $68M | 0.6% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 869,037 | $66M | 0.6% | 2026-Q2 |
| TORONTO DOMINION BANK added | 845,394 | $64M | 0.6% | 2026-Q2 |
| Quadrature Capital Ltd added | 819,656 | $62M | 0.5% | 2026-Q2 |
| FIL Ltd added | 788,936 | $60M | 0.5% | 2026-Q2 |
| Rockefeller Capital Management L.P. trimmed | 781,711 | $59M | 0.5% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 774,475 | $58M | 0.5% | 2026-Q2 |
| Gemsstock Ltd. added | 767,100 | $58M | 0.5% | 2026-Q2 |
| Cetera Investment Advisers added | 726,169 | $55M | 0.5% | 2026-Q2 |
| LMR Partners LLP trimmed | 712,777 | $54M | 0.5% | 2026-Q2 |
| MKP Capital Management, L.L.C. added | 712,500 | $54M | 0.5% | 2026-Q2 |
| RIT CAPITAL PARTNERS PLC trimmed | 700,000 | $53M | 0.5% | 2026-Q2 |
| Cable Car Capital, LP new | 688,700 | $52M | 0.5% | 2026-Q2 |
| Qube Research & Technologies Ltd added | 658,676 | $50M | 0.4% | 2026-Q2 |
| W1M Asset Management Ltd added | 642,480 | $48M | 0.4% | 2026-Q2 |
| Jefferies Financial Group Inc. added | 611,961 | $46M | 0.4% | 2026-Q2 |
| Federation des caisses Desjardins du Quebec trimmed | 607,054 | $46M | 0.4% | 2026-Q2 |
| Panview Capital Ltd added | 602,946 | $45M | 0.4% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 575,635 | $43M | 0.4% | 2026-Q2 |
| STALEY CAPITAL ADVISERS INC trimmed | 515,714 | $39M | 0.3% | 2026-Q2 |
| SCHRODER INVESTMENT MANAGEMENT GROUP trimmed | 505,413 | $38M | 0.3% | 2026-Q2 |
| TRUIST FINANCIAL CORP added | 504,110 | $38M | 0.3% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC added | 484,424 | $37M | 0.3% | 2026-Q2 |
| GLOBALT Investments LLC / GA trimmed | 483,983 | $37M | 0.3% | 2026-Q2 |
| TOCQUEVILLE ASSET MANAGEMENT L.P. added | 474,907 | $36M | 0.3% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 468,700 | $35M | 0.3% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 466,189 | $35M | 0.3% | 2026-Q2 |
| Woodline Partners LP new | 457,015 | $34M | 0.3% | 2026-Q2 |
| WS MANAGEMENT LLLP trimmed | 432,304 | $33M | 0.3% | 2026-Q2 |
| Valiant Capital Management, L.P. | 425,204 | $32M | 0.3% | 2026-Q2 |
| New Harbor Financial Group, LLC added | 410,104 | $31M | 0.3% | 2026-Q2 |
| Phoenix Financial Ltd. new | 409,800 | $31M | 0.3% | 2026-Q2 |
| BRADLEY FOSTER & SARGENT INC/CT trimmed | 388,226 | $29M | 0.3% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO trimmed | 375,019 | $28M | 0.2% | 2026-Q2 |
| IMC-Chicago, LLC trimmed | 374,157 | $28M | 0.2% | 2026-Q2 |
| Jump Financial, LLC added | 371,412 | $28M | 0.2% | 2026-Q2 |
| Walleye Trading LLC added | 369,784 | $28M | 0.2% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 335,014 | $25M | 0.2% | 2026-Q2 |
| AVALON CAPITAL MANAGEMENT added | 331,077 | $25M | 0.2% | 2026-Q2 |
| Tidal Investments LLC trimmed | 330,823 | $25M | 0.2% | 2026-Q2 |
| BLAIR WILLIAM & CO/IL trimmed | 320,783 | $24M | 0.2% | 2026-Q2 |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. added | 315,738 | $24M | 0.2% | 2026-Q2 |
| Point72 Asset Management, L.P. trimmed | 309,450 | $23M | 0.2% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 303,184 | $23M | 0.2% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. added | 292,179 | $22M | 0.2% | 2026-Q2 |
| Clearwater Capital Advisors, LLC added | 292,105 | $22M | 0.2% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 290,439 | $22M | 0.2% | 2026-Q2 |
| Versant Capital Management, Inc added | 281,661 | $21M | 0.2% | 2026-Q2 |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC | 280,000 | $21M | 0.2% | 2026-Q2 |
| Forest Hill Capital, LLC | 277,500 | $21M | 0.2% | 2026-Q2 |
| Evelyn Partners Group Ltd new | 264,210 | $20M | 0.2% | 2026-Q2 |
| SUSQUEHANNA ADVISORS GROUP, INC. | 254,300 | $19M | 0.2% | 2026-Q2 |
| KESTRA PRIVATE WEALTH SERVICES, LLC trimmed | 248,231 | $19M | 0.2% | 2026-Q2 |
| SHUFRO ROSE & CO LLC trimmed | 240,755 | $18M | 0.2% | 2026-Q2 |
| Barry Investment Advisors, LLC trimmed | 236,269 | $18M | 0.2% | 2026-Q2 |
| NewEdge Advisors, LLC added | 230,834 | $17M | 0.2% | 2026-Q2 |
| Beacon Pointe Advisors, LLC trimmed | 226,219 | $17M | 0.2% | 2026-Q2 |
| HSBC HOLDINGS PLC added | 222,208 | $17M | 0.1% | 2026-Q2 |
| JOHNSON INVESTMENT COUNSEL INC added | 221,738 | $17M | 0.1% | 2026-Q2 |
| Fielder Capital Group LLC | 220,903 | $17M | 0.1% | 2026-Q2 |
| TD Waterhouse Canada Inc. added | 220,002 | $17M | 0.1% | 2026-Q2 |
| IFP Advisors, Inc added | 216,648 | $16M | 0.1% | 2026-Q2 |
| Ashton Thomas Private Wealth, LLC trimmed | 214,437 | $16M | 0.1% | 2026-Q2 |
| SYON CAPITAL LLC added | 212,664 | $16M | 0.1% | 2026-Q2 |
| RED CEDAR INVESTMENT MANAGEMENT, LLC added | 208,380 | $16M | 0.1% | 2026-Q2 |
| MAINSTAY CAPITAL MANAGEMENT LLC /ADV trimmed | 205,108 | $15M | 0.1% | 2026-Q2 |
| MARCO INVESTMENT MANAGEMENT LLC added | 204,721 | $15M | 0.1% | 2026-Q2 |
| Prospera Financial Services Inc trimmed | 204,070 | $15M | 0.1% | 2026-Q2 |
| Marathon Trading Investment Management LLC added | 202,219 | $15M | 0.1% | 2026-Q2 |
| Kestra Advisory Services, LLC trimmed | 189,849 | $14M | 0.1% | 2026-Q2 |
| Arax Advisory Partners added | 187,282 | $14M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.