CBOE GLOBAL MKTS INC CBOE
COM · Common Stock · CUSIP 12503M108 · ISIN US12503M1080
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($43.9m this quarter). Holder counts are more reliable. Shares outstanding: 104.7m as of 2026-02-13, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $250.81. Options: 18 managers hold calls ($250.4m notional), 18 hold puts ($135.5m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 547 |
| Q4 2022 | 589 |
| Q1 2023 | 572 |
| Q2 2023 | 594 |
| Q3 2023 | 626 |
| Q4 2023 | 723 |
| Q1 2024 | 739 |
| Q2 2024 | 751 |
| Q3 2024 | 764 |
| Q4 2024 | 781 |
| Q1 2025 | 810 |
| Q2 2025 | 841 |
| Q3 2025 | 884 |
| Q4 2025 | 938 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 371 | 318 |
| Q2 2024 | 346 | 336 |
| Q3 2024 | 341 | 368 |
| Q4 2024 | 343 | 368 |
| Q1 2025 | 386 | 371 |
| Q2 2025 | 439 | 315 |
| Q3 2025 | 419 | 357 |
| Q4 2025 | 403 | 386 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $285.9m | $92.4m | 0.32 |
| Q2 2025 | $281.1m | $103.3m | 0.37 |
| Q3 2025 | $277.2m | $223.0m | 0.80 |
| Q4 2025 | $250.4m | $135.5m | 0.54 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | Added | +1.1m |
| UBS Group AG | Added | +341.0k |
| Amundi | Added | +317.9k |
| HSBC HOLDINGS PLC | Added | +293.3k |
| Clark Capital Management Group, Inc. | Added | +262.2k |
| NORDEA INVESTMENT MANAGEMENT AB | Added | +237.9k |
| MACKENZIE FINANCIAL CORP | Added | +233.9k |
| MARSHALL WACE, LLP | Added | +231.2k |
| CITADEL ADVISORS LLC | Added | +180.1k |
| MORGAN STANLEY | Added | +155.3k |
Biggest sellers
| FMR LLC | Reduced | -418.0k |
| LOS ANGELES CAPITAL MANAGEMENT LLC | Reduced | -351.0k |
| JPMORGAN CHASE & CO | Reduced | -340.9k |
| Balyasny Asset Management L.P. | Reduced | -278.9k |
| Freestone Grove Partners LP | Sold out | -273.0k |
| Point72 Asset Management, L.P. | Sold out | -226.9k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -211.2k |
| Holocene Advisors, LP | Reduced | -205.0k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -203.5k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -156.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $87.7m349.3k shares |
| CITADEL ADVISORS LLC | Reduced | $40.8m162.4k shares |
| JANE STREET GROUP, LLC | Added | $28.7m114.3k shares |
| IMC-Chicago, LLC | Reduced | $20.6m82.0k shares |
| GROUP ONE TRADING LLC | Added | $13.3m53.0k shares |
| Delta Accumulation, LLC | Added | $13.1m52.2k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | Added | $11.5m45.8k shares |
| D. E. Shaw & Co., Inc. | Added | $10.0m39.9k shares |
| Walleye Capital LLC | Added | $4.2m16.7k shares |
| Verition Fund Management LLC | Reduced | $3.6m14.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $40.0m159.4k shares |
| CITADEL ADVISORS LLC | Reduced | $16.8m66.9k shares |
| IMC-Chicago, LLC | Reduced | $14.6m58.2k shares |
| Delta Accumulation, LLC | Added | $13.1m52.2k shares |
| Jefferies Financial Group Inc. | Unchanged | $12.6m50.0k shares |
| GROUP ONE TRADING LLC | Added | $7.7m30.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $4.3m17.3k shares |
| Verition Fund Management LLC | Reduced | $4.2m16.9k shares |
| Walleye Trading LLC | Reduced | $3.7m14.7k shares |
| JANE STREET GROUP, LLC | Added | $3.6m14.4k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-10-17 | 9.0% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.0% |
Fell to 5% or below in the last year: ALLIANCEBERNSTEIN L.P. (4.8%, 2026-05-18), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 3 | $3.9m | $2.5m |
| Q2 2024 | 0 | — | 2 | $1.3m | $1.1m |
| Q3 2024 | 0 | — | 6 | $4.0m | $3.5m |
| Q4 2024 | 0 | — | 1 | $5.0k | — |
| Q1 2025 | 0 | — | 5 | $4.8m | $3.5m |
| Q2 2025 | 0 | — | 2 | $1.9m | $1.9m |
| Q3 2025 | 0 | — | 1 | $1.2m | $1.2m |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.05% of their portfolio | 13.0m $3.3bn | Added +120.0k |
| BlackRock, Inc. 0.04% of their portfolio | 9.9m $2.5bn | Reduced -108.8k |
| ALLIANCEBERNSTEIN L.P. 0.52% of their portfolio | 6.6m $1.6bn | Reduced -211.2k |
| STATE STREET CORP 0.04% of their portfolio | 5.0m $1.2bn | Reduced -18.2k |
| FMR LLC 0.06% of their portfolio | 4.4m $1.1bn | Reduced -418.0k |
| T. Rowe Price Investment Management, Inc. 0.34% of their portfolio | 3.5m $866.4m | Added +1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 3.0m $750.9m | Added +65.1k |
| MORGAN STANLEY 0.04% of their portfolio | 2.7m $675.5m | Added +155.3k |
| Invesco Ltd. 0.05% of their portfolio | 1.9m $484.7m | Added +105.2k |
| FIRST TRUST ADVISORS LP 0.26% of their portfolio | 1.4m $354.9m | Reduced -37.8k |
| NORGES BANK 0.04% of their portfolio | 1.4m $354.6m | Not comparable |
| NORTHERN TRUST CORP 0.04% of their portfolio | 1.4m $352.0m | Reduced -7.9k |
| JANUS HENDERSON GROUP PLC 0.15% of their portfolio | 1.3m $336.8m | Reduced -31.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.44% of their portfolio | 1.1m $286.0m | Reduced -203.5k |
| Amundi 0.07% of their portfolio | 981.7k $246.4m | Added +317.9k |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 948.5k $238.1m | Reduced -88.1k |
| NORDEA INVESTMENT MANAGEMENT AB 0.21% of their portfolio | 947.9k $239.6m | Added +237.9k |
| UBS Group AG 0.05% of their portfolio | 916.9k $230.1m | Added +341.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 892.2k $223.9m | Reduced -96.3k |
| Legal & General Group Plc 0.04% of their portfolio | 790.0k $198.3m | Reduced -126.4k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 732.1k $183.7m | Reduced -87.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 682.1k $171.2m | Reduced -13.2k |
| MARSHALL WACE, LLP 0.16% of their portfolio | 667.7k $167.6m | Added +231.2k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 667.5k $167.6m | Reduced -8.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 602.3k $151.2m | Added +9.8k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 577.2k $145.4m | Added +293.3k |
| MACKENZIE FINANCIAL CORP 0.16% of their portfolio | 525.5k $133.5m | Added +233.9k |
| Clark Capital Management Group, Inc. 0.80% of their portfolio | 519.0k $130.3m | Added +262.2k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 507.1k $127.3m | Reduced -17.2k |
| Balyasny Asset Management L.P. 0.22% of their portfolio | 470.8k $118.2m | Reduced -278.9k |
| LORD, ABBETT & CO. LLC 0.36% of their portfolio | 470.4k $118.1m | Added +85.3k |
| Robeco Institutional Asset Management B.V. 0.16% of their portfolio | 453.8k $113.9m | Added +15.6k |
| AQR CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 434.2k $109.0m | Reduced -49.4k |
| CREDIT AGRICOLE S A 0.29% of their portfolio | 417.3k $104.7m | Added +129.9k |
| DekaBank Deutsche Girozentrale 0.14% of their portfolio | 416.1k $82.1m | Unchanged |
| HORIZON KINETICS ASSET MANAGEMENT LLC 1.39% of their portfolio | 408.4k $102.5m | Reduced -1.1k |
| BARCLAYS PLC 0.04% of their portfolio | 401.9k $100.9m | Added +51.3k |
| CITADEL ADVISORS LLC 0.06% of their portfolio | 379.4k $95.2m | Added +180.1k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 373.8k $93.8m | Reduced -340.9k |
| Caisse de depot et placement du Quebec 0.16% of their portfolio | 371.4k $93.2m | Added +110.2k |
| TD Asset Management Inc 0.07% of their portfolio | 365.4k $91.7m | Reduced -15.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 362.9k $91.1m | Reduced -67.1k |
| Bahl & Gaynor LLC 0.44% of their portfolio | 342.9k $86.1m | Added +103.0k |
| TWO SIGMA INVESTMENTS, LP 0.13% of their portfolio | 341.7k $85.8m | Reduced -139.6k |
| Nuveen, LLC 0.02% of their portfolio | 332.3k $83.4m | Reduced -4.1k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.10% of their portfolio | 331.1k $83.1m | Added +136.9k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.48% of their portfolio | 323.0k $81.1m | Unchanged |
| PARNASSUS INVESTMENTS, LLC 0.21% of their portfolio | 316.0k $79.3m | Reduced -26.7k |
| Boston Trust Walden Corp 0.58% of their portfolio | 303.7k $76.2m | Reduced -9.8k |
| ANCHOR CAPITAL ADVISORS LLC 2.16% of their portfolio | 297.3k $74.6m | Reduced -13.4k |
| BANK OF MONTREAL /CAN/ 0.03% of their portfolio | 281.3k $70.6m | Added +40.1k |
| California Public Employees Retirement System 0.04% of their portfolio | 279.6k $70.2m | Reduced -63.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 271.8k $68.2m | Reduced -13.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 248.2k $62.3m | Added +93.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 232.2k $58.3m | Added +38.3k |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 226.7k $56.9m | Reduced -655 |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 225.8k $56.7m | Added +7.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 221.2k $54.9m | Added +10.9k |
| Qube Research & Technologies Ltd 0.08% of their portfolio | 208.7k $52.4m | Added +77.7k |
| GILDER GAGNON HOWE & CO LLC 0.55% of their portfolio | 207.3k $52.0m | Added +942 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio | 189.3k $47.5m | Reduced -93.7k |
| LPL Financial LLC 0.01% of their portfolio | 186.8k $46.9m | Added +32.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 181.6k $45.6m | Added +13.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 180.5k $45.3m | Reduced -3.7k |
| Corient Private Wealth LP 0.03% of their portfolio | 171.0k $41.4m | Added +91.0k |
| National Pension Service 0.03% of their portfolio | 169.9k $42.7m | Added +5.3k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 159.3k $40.0m | Reduced -9.4k |
| Junto Capital Management LP 0.87% of their portfolio | 154.4k $38.8m | New |
| Tredje AP-fonden 0.28% of their portfolio | 148.9k $37.4m | Added +111.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 147.8k $37.1m | Reduced -1.9k |
| Smith Group Asset Management, LLC 1.96% of their portfolio | 147.1k $36.9m | Added +8.6k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 144.8k $36.4m | Reduced -31.5k |
| Gillson Capital LP 2.35% of their portfolio | 143.1k $35.9m | Reduced -63.7k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 136.4k $34.2m | Added +883 |
| E. Ohman J:or Asset Management AB 0.79% of their portfolio | 135.8k $34.1m | Unchanged |
| Mitsubishi UFJ Trust & Banking Corp 0.08% of their portfolio | 130.9k $32.8m | Reduced -8.0k |
| 1832 Asset Management L.P. 0.04% of their portfolio | 128.7k $32.3m | Added +85.7k |
| Eurizon Capital SGR S.p.A. 0.10% of their portfolio | 128.0k $32.1m | First filing |
| CITIGROUP INC 0.02% of their portfolio | 127.0k $31.9m | Reduced -2.1k |
| CWM, LLC 0.09% of their portfolio | 125.9k $31.6m | Reduced -7.5k |
| Man Group plc 0.06% of their portfolio | 124.7k $31.3m | Reduced -38.0k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 121.8k $30.6m | Reduced -6.3k |
| Candriam S.C.A. 0.15% of their portfolio | 120.7k $30.3m | Added +30.8k |
| Vinva Investment Management Ltd 0.38% of their portfolio | 119.9k $30.5m | Added +83.4k |
| Caldwell Investment Management Ltd. 18.45% of their portfolio | 118.0k $30.0m | Unchanged |
| Swedbank AB 0.03% of their portfolio | 108.8k $27.3m | Added +381 |
| BURNEY CO/ 0.85% of their portfolio | 108.5k $27.2m | Reduced -1.1k |
| Titan Investment Solutions Ltd 3.24% of their portfolio | 107.3k $26.9m | First filing |
| Stack Financial Management, Inc 1.98% of their portfolio | 103.6k $26.0m | Reduced -1.4k |
| Perpetual Ltd 0.38% of their portfolio | 103.3k $25.9m | Reduced -55.4k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.09% of their portfolio | 102.5k $25.7m | Unchanged |
| Gotham Asset Management, LLC 0.09% of their portfolio | 102.1k $25.6m | Added +17.4k |
| Aberdeen Group plc 0.04% of their portfolio | 96.5k $24.2m | Reduced -5.3k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.04% of their portfolio | 95.3k $24.0m | Reduced -32.1k |
| McGuire Investment Group, LLC 2.55% of their portfolio | 95.1k $23.9m | Reduced -227 |
| SG Americas Securities, LLC 0.03% of their portfolio | 94.4k $23.7m | Added +69.8k |
| NorthCoast Asset Management LLC 0.52% of their portfolio | 94.1k $23.6m | Reduced -12.6k |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 0.19% of their portfolio | 92.7k $23.3m | Reduced -2.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 92.3k $23.2m | Reduced -5.7k |
| Arbejdsmarkedets Tillaegspension 0.59% of their portfolio | 91.8k $23.0m | First filing |