Vault-13

SPDR INDEX SHS FDS FEZ

EURO STOXX 50 · ETP · CUSIP 78463X202

345 institutional holders +32 vs Q1 2025
49,048,93249.0m shares reported held*
$2.9bnreported value*
78 new 137 added 70 reduced 43 sold out net bought ≈ $96.7m (+1.6m shares)

* 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 ($10.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $59.70. Options: 17 managers hold calls ($88.6m notional), 22 hold puts ($297.7m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 164Q4 22: 188Q1 23: 220Q2 23: 226Q3 23: 214Q4 23: 222Q1 24: 234Q2 24: 254Q3 24: 243Q4 24: 245Q1 25: 313Q2 25: 345345Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022164
Q4 2022188
Q1 2023220
Q2 2023226
Q3 2023214
Q4 2023222
Q1 2024234
Q2 2024254
Q3 2024243
Q4 2024245
Q1 2025313
Q2 2025345

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q3 23: 97 bought or addedQ3 23: 115 cut or sold outQ4 23: 84 bought or addedQ4 23: 112 cut or sold outQ4 23Q1 24: 102 bought or addedQ1 24: 94 cut or sold outQ2 24: 123 bought or addedQ2 24: 88 cut or sold outQ2 24Q3 24: 99 bought or addedQ3 24: 112 cut or sold outQ4 24: 96 bought or addedQ4 24: 110 cut or sold outQ4 24Q1 25: 194 bought or addedQ1 25: 82 cut or sold outQ2 25: 215 bought or addedQ2 25: 113 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 202397115
Q4 202384112
Q1 202410294
Q2 202412388
Q3 202499112
Q4 202496110
Q1 202519482
Q2 2025215113

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500m$1bn$1.5bnQ3 24 calls: $75.3mQ3 24 puts: $145.3mQ3 24P/C 1.93Q4 24 calls: $179.5mQ4 24 puts: $1.1bnQ4 24P/C 6.39Q1 25 calls: $184.6mQ1 25 puts: $669.8mQ1 25P/C 3.63Q2 25 calls: $88.6mQ2 25 puts: $297.7mQ2 25P/C 3.36
Numbers
QuarterCallsPutsP/C
Q3 2024$75.3m$145.3m1.93
Q4 2024$179.5m$1.1bn6.39
Q1 2025$184.6m$669.8m3.63
Q2 2025$88.6m$297.7m3.36

Biggest buyers

MAINSTAY CAPITAL MANAGEMENT LLC /ADV Added +2,950,372+3.0m
ENVESTNET ASSET MANAGEMENT INC Added +1,366,460+1.4m
MORGAN STANLEY Added +1,001,419+1.0m
ROYAL BANK OF CANADA Added +961,498+961.5k
BANK OF AMERICA CORP /DE/ Added +828,032+828.0k
LPL Financial LLC Added +674,035+674.0k
Thrivent Financial for Lutherans New +543,229+543.2k
Cetera Investment Advisers Added +501,414+501.4k
D. E. Shaw & Co., Inc. New +479,919+479.9k
Piedmont Capital Management, LLC New +342,504+342.5k

Biggest sellers

JPMORGAN CHASE & CO Reduced -5,151,886-5.2m
JANE STREET GROUP, LLC Reduced -1,769,161-1.8m
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -963,607-963.6k
FLOW TRADERS U.S. LLC Sold out -946,630-946.6k
CITIGROUP INC Reduced -623,084-623.1k
OLD MISSION CAPITAL LLC Sold out -585,390-585.4k
DEUTSCHE BANK AG\ Sold out -547,050-547.0k
GOLDMAN SACHS GROUP INC Reduced -418,363-418.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -258,477-258.5k
UBS Group AG Reduced -250,352-250.4k

Biggest calls

Optiver Holding B.V. Added $23.3m389.7k shares
JANE STREET GROUP, LLC Added $18.9m316.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $13.2m221.7k shares
GARDA CAPITAL PARTNERS LP Unchanged $13.0m218.2k shares
IMC-Chicago, LLC Reduced $4.3m72.5k shares
MILLENNIUM MANAGEMENT LLC Reduced $3.6m59.6k shares
CITADEL ADVISORS LLC Reduced $2.7m44.9k shares
Walleye Trading LLC Added $2.7m44.8k shares
WOLVERINE TRADING, LLC Reduced $2.3m38.0k shares
GROUP ONE TRADING LLC Reduced $1.9m32.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $115.9m1.9m shares
UBS Group AG Reduced $59.7m1.0m shares
JANE STREET GROUP, LLC Reduced $42.1m705.1k shares
CITADEL ADVISORS LLC Reduced $15.5m259.6k shares
DeepCurrents Investment Group LLC New $11.9m2.0k shares
Schonfeld Strategic Advisors LLC New $10.2m170.0k shares
MARSHALL WACE, LLP Reduced $7.0m118.0k shares
WOLVERINE TRADING, LLC Reduced $6.7m112.0k shares
Graham Capital Management, L.P. New $6.0m100.0k shares
Edenbrook Capital, LLC Unchanged $6.0m100.0k 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.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 8,649,2748.6m $516.6m $516.6m 0.04% Reduced -5.2m -5,151,886
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 4,184,8404.2m $250.0m $250.0m 0.02% Added +1.0m +1,001,419
3 MAINSTAY CAPITAL MANAGEMENT LLC /ADV 12.25% of their portfolio GRAND BLANC, MI 4,158,0744.2m $248.4m $248.4m 12.25% Added +3.0m +2,950,372
4 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,950,3683.0m $176.2m $176.2m 0.01% Added +828.0k +828,032
5 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 2,148,7292.1m $128.3m $128.3m 0.02% Reduced -418.4k -418,363
6 UBS Group AG 0.02% of their portfolio ZURICH, V8 1,657,9331.7m $99.0m $99.0m 0.02% Reduced -250.4k -250,352
7 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 1,483,1021.5m $88.6m $88.6m 0.03% Added +1.4m +1,366,460
8 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,457,6151.5m $87.1m $87.1m 0.03% Added +674.0k +674,035
9 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,416,8181.4m $84.6m $84.6m 0.01% Added +961.5k +961,498
10 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,258,5611.3m $75.2m $75.2m 0.02% Added +106.3k +106,338
11 PRUDENTIAL PLC 0.42% of their portfolio LONDON, X0 1,140,1641.1m $68.1m $68.1m 0.42% Added +252.0k +252,000
12 SOUTHERN FARM BUREAU LIFE INSURANCE 6.09% of their portfolio JACKSON, MS 802,765802.8k $47.6m $47.6m 6.09% Added +100.7k +100,665
13 JANE STREET GROUP, LLC 0.08% of their portfolio NEW YORK, NY 798,264798.3k $47.7m $47.7m 0.08% Reduced -1.8m -1,769,161
14 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 705,719705.7k $42.2m $42.2m 0.01% Reduced -7.0k -7,048
15 Cetera Investment Advisers 0.06% of their portfolio SCHAUMBURG, IL 600,664600.7k $35.9m $35.9m 0.06% Added +501.4k +501,414
16 Thrivent Financial for Lutherans 0.07% of their portfolio Minneapolis, MN 543,229543.2k $32.4m $32.4m 0.07% New
17 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 498,488498.5k $29.8m $29.8m 0.03% Added +270.5k +270,517
18 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 488,438488.4k $29.2m $29.2m 0.01% Added +93.3k +93,298
19 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 479,919479.9k $28.7m $28.7m 0.03% New
20 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 445,412445.4k $26.6m $26.6m 0.02% Added +76.0k +75,979
21 PGIM Custom Harvest LLC 0.51% of their portfolio NEWARK, NJ 415,640415.6k $24.8m $24.8m 0.51% Added +4.4k +4,397
22 Allianz Asset Management GmbH 0.03% of their portfolio MUNICH, 2M 391,900391.9k $23.4m $23.4m 0.03% Reduced -44.3k -44,300
23 Bensler, LLC 2.58% of their portfolio Bellevue, WA 386,859386.9k $23.1m $23.1m 2.58% Added +87.9k +87,903
24 CIBC WORLD MARKET INC. 0.05% of their portfolio TORONTO, A6 381,965382.0k $22.8m $22.8m 0.05% Added +14.6k +14,621
25 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 358,881358.9k $21.4m $21.4m 0.06% Added +300.7k +300,746
26 Piedmont Capital Management, LLC 11.83% of their portfolio WHITEFISH, MT 342,504342.5k $20.5m $20.5m 11.83% New
27 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 339,891339.9k $20.3m $20.3m 0.01% Reduced -11.7k -11,739
28 Brookstone Capital Management 0.21% of their portfolio WHEATON, IL 268,943268.9k $16.1m $16.1m 0.21% Reduced -149.5k -149,493
29 SCOTIA CAPITAL INC. 0.07% of their portfolio TORONTO, A6 258,154258.2k $15.4m $15.4m 0.07% Added +80.8k +80,797
30 SUMITOMO LIFE INSURANCE CO 0.96% of their portfolio TOKYO, M0 236,100236.1k $14.1m $14.1m 0.96% Reduced -12.5k -12,500
31 COURIER CAPITAL LLC 0.85% of their portfolio BUFFALO, NY 234,108234.1k $14.0m $14.0m 0.85% Added +2.2k +2,246
32 Money Design Co.,Ltd. 0.58% of their portfolio TOKYO, M0 208,020208.0k $12.4m $12.4m 0.58% Added +9.4k +9,394
33 MATAURO, LLC 2.31% of their portfolio NEW YORK, NY 205,800205.8k $12.3m $12.3m 2.31% Added +156.2k +156,202
34 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 199,692199.7k $11.9m $11.9m 0.01% Added +195.3k +195,332
35 Norris Financial Group, LLC 4.75% of their portfolio GREENVILLE, SC 194,094194.1k $11.6m $11.6m 4.75% Added +101.6k +101,577
36 Migdal Insurance & Financial Holdings Ltd. 0.07% of their portfolio Petach Tikva, L3 189,504189.5k $11.3m $11.3m 0.07% Added +108.3k +108,259
37 BROWN ADVISORY INC 0.01% of their portfolio BALTIMORE, MD 182,881182.9k $10.9m $10.9m 0.01% Added +6.3k +6,288
38 Harel Insurance Investments & Financial Services Ltd. 0.12% of their portfolio Ramat Gan, L3 179,505179.5k $10.7m $10.7m 0.12% Added +3.8k +3,827
39 Almanack Investment Partners, LLC. 1.69% of their portfolio WAYNE, PA 178,222178.2k $10.6m $10.6m 1.69% Added +40.7k +40,728
40 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 176,961177.0k $10.6m $10.6m 0.00% Added +52.2k +52,181
41 Wealthspire Retirement, LLC 0.66% of their portfolio ALISO VIEJO, CA 167,172167.2k $10.0m $10.0m 0.66% New
42 Graypoint LLC 0.56% of their portfolio Albany, NY 166,044166.0k $9.9m $9.9m 0.56% Added +529 +529
43 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 160,837160.8k $9.6m $9.6m 0.01% Added +52.8k +52,842
44 GFS Advisors, LLC 1.27% of their portfolio HOUSTON, TX 155,891155.9k $9.3m $9.3m 1.27% New
45 Good Life Advisors, LLC 0.57% of their portfolio READING, PA 151,398151.4k $9.0m $9.0m 0.57% Added +8.5k +8,515
46 Vontobel Holding Ltd. 0.03% of their portfolio ZURICH, V8 146,700146.7k $8.8m $8.8m 0.03% Reduced -7.2k -7,180
47 Allie Family Office LLC 4.33% of their portfolio MIAMI, FL 146,206146.2k $8.7m $8.7m 4.33% Added +15.9k +15,901
48 Financial Management Professionals, Inc. 0.96% of their portfolio AUSTIN, TX 142,599142.6k $8.5m $8.5m 0.96% New
49 Per Stirling Capital Management, LLC. 1.09% of their portfolio AUSTIN, TX 140,101140.1k $8.4m $8.4m 1.09% Added +126.1k +126,136
50 Financial Enhancement Group LLC 1.18% of their portfolio ANDERSON, IN 136,897136.9k $8.2m $8.2m 1.18% Added +716 +716
51 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 136,807136.8k $8.2m $8.2m 0.01% Added +95.4k +95,410
52 Bedell Frazier Investment Counselling, LLC 1.98% of their portfolio Walnut Creek, CA 131,365131.4k $7.8m $7.8m 1.98% New
53 ASHFORD CAPITAL MANAGEMENT INC 0.88% of their portfolio WILMINGTON, DE 125,338125.3k $7.5m $7.5m 0.88% Reduced -19.6k -19,595
54 NTV Asset Management LLC 0.88% of their portfolio Charleston, WV 123,134123.1k $7.4m $7.4m 0.88% Added +3.3k +3,323
55 Spire Wealth Management 0.26% of their portfolio MCLEAN, VA 122,057122.1k $7.3m $7.3m 0.26% Added +5.0k +4,966
56 Private Wealth Advisors, LLC 2.83% of their portfolio Fresno, CA 120,622120.6k $7.2m $7.2m 2.83% Added +2.2k +2,223
57 Amundi 0.00% of their portfolio Paris, I0 120,470120.5k $7.2m $7.2m 0.00% Added +42.3k +42,322
58 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 114,930114.9k $6.8m $6.8m 0.02% Added +31.0k +31,044
59 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 107,204107.2k $6.4m $6.4m 0.00% Added +9.2k +9,161
60 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 107,086107.1k $6.4m $6.4m 0.01% Added +67.7k +67,651
61 SSA SWISS ADVISORS AG 3.04% of their portfolio ZURICH, V8 105,030105.0k $6.3m $6.3m 3.04% Added +66.2k +66,162
62 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 104,400104.4k $6.2m $6.2m 0.00% Reduced -623.1k -623,084
63 Koshinski Asset Management, Inc. 0.46% of their portfolio DECATUR, IL 103,067103.1k $6.2m $6.2m 0.46% Added +39.7k +39,702
64 Stratos Wealth Advisors, LLC 0.32% of their portfolio BEACHWOOD, OH 101,951102.0k $6.1m $6.1m 0.32% Added +7.3k +7,349
65 LYNX CAPITAL GROUP LTD /ADV 2.88% of their portfolio BEACHWOOD, OH 100,015100.0k $6.0m $6.0m 2.88% New
66 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 96,28696.3k $5.8m $5.8m 0.01% Added +55.8k +55,800
67 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 91,47191.5k $5.5m $5.5m 0.00% Added +27.7k +27,694
68 PARK AVENUE SECURITIES LLC 0.05% of their portfolio NEW YORK, NY 91,01591.0k $5.4m $5.4m 0.05% New
69 Jackson Wealth Management, LLC 0.57% of their portfolio LAKE MARY, FL 88,18888.2k $5.3m $5.3m 0.57% Reduced -3.3k -3,345
70 RETIREMENT GUYS FORMULA LLC 1.96% of their portfolio MAUMEE, OH 86,35186.4k $5.2m $5.2m 1.96% New
71 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 82,73882.7k $4.9m $4.9m 0.03% Reduced -1.1k -1,088
72 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 79,21679.2k $4.7m $4.7m 0.01% Reduced -258.5k -258,477
73 Equitable Holdings, Inc. 0.04% of their portfolio NEW YORK, NY 78,44578.4k $4.7m $4.7m 0.04% Added +31.9k +31,878
74 Phoenix Financial Ltd. 0.06% of their portfolio Givatayim, L3 72,98573.0k $4.4m $4.4m 0.06% Added +14.7k +14,725
75 1607 Capital Partners, LLC 0.35% of their portfolio Richmond, VA 72,72372.7k $4.3m $4.3m 0.35% New
76 LEVEL FOUR ADVISORY SERVICES, LLC 0.15% of their portfolio DALLAS, TX 69,04669.0k $4.1m $4.1m 0.15% Added +14.2k +14,182
77 Quantinno Capital Management LP 0.02% of their portfolio NEW YORK, NY 66,65566.7k $4.0m $4.0m 0.02% Added +5.6k +5,588
78 Demars Financial Group, LLC 1.51% of their portfolio SPOKANE VALLEY, WA 65,86765.9k $3.9m $3.9m 1.51% New
79 Climber Capital SA 2.14% of their portfolio NYON, V8 65,80265.8k $3.3m $3.3m 2.14% Unchanged
80 Redhawk Wealth Advisors, Inc. 0.49% of their portfolio MINNEAPOLIS, MN 65,70065.7k $3.9m $3.9m 0.49% Added +16.4k +16,408
81 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 63,39363.4k $3.8m $3.8m 0.00% Reduced -69.6k -69,556
82 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 62,00162.0k $3.7m $3.7m 0.00% Added +17.7k +17,687
83 Atlantic Union Bankshares Corp 0.08% of their portfolio GLEN ALLEN, VA 61,49861.5k $3.7m $3.7m 0.08% New
84 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 61,41761.4k $3.7m $3.7m 0.00% Added +9.5k +9,518
85 Summit Financial, LLC 0.08% of their portfolio PARSIPPANY, NJ 57,03557.0k $3.4m $3.4m 0.08% Added +2.3k +2,337
86 Optiver Holding B.V. 0.09% of their portfolio AMSTERDAM, P7 56,94556.9k $3.4m $3.4m 0.09% Reduced -125.0k -124,973
87 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 56,64756.6k $3.4m $3.4m 0.01% Reduced -10.3k -10,263
88 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 56,36156.4k $3.4m $3.4m 0.00% Added +20.4k +20,450
89 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 56,24756.2k $3.4m $3.4m 0.01% Added +924 +924
90 Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio SEOUL, M5 55,27055.3k $3.3m $3.3m 0.01% Reduced -4.1k -4,080
91 LFA - Lugano Financial Advisors SA 1.90% of their portfolio LUGANO, V8 53,59853.6k $3.2m $3.2m 1.90% Added +1.8k +1,789
92 Meridian Wealth Management, LLC 0.13% of their portfolio LEXINGTON, KY 52,33352.3k $3.1m $3.1m 0.13% New
93 Del-Sette Capital Management, LLC 2.14% of their portfolio SCHENECTADY, NY 51,61451.6k $3.1m $3.1m 2.14% Reduced -23.1k -23,119
94 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 50,90050.9k $3.0m $3.0m 0.00% Reduced -2.8k -2,770
95 Union Bancaire Privee, UBP SA 0.03% of their portfolio GENEVA 1, V8 49,68049.7k $2.4m $2.4m 0.03% New
96 Belpointe Asset Management LLC 0.12% of their portfolio RENO, NV 49,26349.3k $2.9m $2.9m 0.12% Added +12.1k +12,148
97 WBH ADVISORY INC 0.24% of their portfolio BALTIMORE, MD 46,78346.8k $2.8m $2.8m 0.24% Added +24.0k +23,983
98 Upper Left Wealth Management, LLC 1.86% of their portfolio TAMPA, FL 46,69846.7k $2.8m $2.8m 1.86% Reduced -378 -378
99 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 45,18945.2k $2.7m $2.7m 0.01% Added +39.0k +38,967
100 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 45,05645.1k $2.7m $2.7m 0.01% Added +2.0k +1,992