Big Money enters Gold
Two North-American investment companies were the biggest purchasers of SPDR Gold Trust-shares in Q1’2015.
The US Securities and Equities Commission (SEC) has released brand new numbers of the major US-asset management companies‘ asset holdings. The data allows to extract single investors of the world’s biggest gold-ETF, SPDR Gold Trust (Ticker Symbol: GLD), as well as changes in ownership compared to the previous quarter.
According to the data, Paulson & Co. remains in first place of major investors in this gold fund. US-billionaire John Paulson’s fund held on to its shares, most recently worth $ 1.2 billion.
Canadian asset manager CI Investments Inc. was by far the biggest purchaser in Q1. The company increased its GLD-positions by 6,117,900 shares and hence soared on to second place in the major share holders‘ ranking. The investment value: $ 735 million – which corresponds to 7.7 percent of the entire portfolio of this major investor, and also was the biggest single holding of this company in Q1’2015, an even bigger position than shares of Apple Inc. ($ 626,67 million).
Investment group DE Shaw & Co., founded by computer scientist Dr. David E. Shaw, who also works as a consultant for science and technology for the Obama-adminstration, secured 2,033,000 shares worth $ 238.9 million. The GLD-share on the company’s total portfolio was close to 0.5 percent per end of March.
Lazard Asset Management LLC has added another 1 million shares and thus almost doubled its GLD-shares. Credit Suisse (+490.83 %), Morgan Stanley (+18.26 %) and Blackrock Group (+167.44 %) have also clearly increased their holdings. They are all listed in the top-15 of the major GLD-investors (see spreadsheet above).
But there have also been major sell-offs. Abu Dhabi Investment Council sold off all of its 2,278,463 shares, JP Morgan dropped 1.2 million shares (- 43.05 %), and Barclays (- 78.52 %), Royal Bank of Canada (- 40.9 %) and Goldman Sachs (- 27.1 %) were also on the selling side.
Major asset managers use traded gold ETFs (Exchange Traded Funds) to invest in gold in a convenient way. But the SPDR Gold Trust-shares only represent a claim on gold, though the securities are backed with physical gold.
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