Vault-13

SPDR INDEX SHS FDS FEZ

EURO STOXX 50 · ETP · CUSIP 78463X202

335 institutional holders -10 vs Q2 2025
47,885,75147.9m shares reported held*
$3.0bnreported value*
48 new 124 added 90 reduced 48 sold out net sold ≈ $20.5m (-340.7k 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 ($22.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $62.12. Options: 13 managers hold calls ($165.5m notional), 13 hold puts ($237.7m).

Trends to Q3 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: 345Q3 25: 335335Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025335

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 23: 84 bought or addedQ4 23: 112 cut or sold outQ1 24: 102 bought or addedQ1 24: 94 cut or sold outQ1 24Q2 24: 123 bought or addedQ2 24: 88 cut or sold outQ3 24: 99 bought or addedQ3 24: 112 cut or sold outQ3 24Q4 24: 96 bought or addedQ4 24: 110 cut or sold outQ1 25: 194 bought or addedQ1 25: 82 cut or sold outQ1 25Q2 25: 215 bought or addedQ2 25: 113 cut or sold outQ3 25: 172 bought or addedQ3 25: 138 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202384112
Q1 202410294
Q2 202412388
Q3 202499112
Q4 202496110
Q1 202519482
Q2 2025215113
Q3 2025172138

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ4 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 3.36Q3 25 calls: $165.5mQ3 25 puts: $237.7mQ3 25P/C 1.44
Numbers
QuarterCallsPutsP/C
Q4 2024$179.5m$1.1bn6.39
Q1 2025$184.6m$669.8m3.63
Q2 2025$88.6m$297.7m3.36
Q3 2025$165.5m$237.7m1.44

Biggest buyers

JPMORGAN CHASE & CO Added +7,216,718+7.2m
1607 Capital Partners, LLC Added +779,675+779.7k
UBS Group AG Added +471,813+471.8k
MORGAN STANLEY Added +444,432+444.4k
BNP PARIBAS FINANCIAL MARKETS Added +346,975+347.0k
BANK OF NOVA SCOTIA Added +252,120+252.1k
SUMITOMO LIFE INSURANCE CO Added +212,800+212.8k
CITIGROUP INC Added +180,896+180.9k
BANK OF AMERICA CORP /DE/ Added +150,772+150.8k
Circle Wealth Management, LLC New +134,456+134.5k

Biggest sellers

MAINSTAY CAPITAL MANAGEMENT LLC /ADV Reduced -4,084,383-4.1m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,349,205-1.3m
ROYAL BANK OF CANADA Reduced -833,275-833.3k
Thrivent Financial for Lutherans Sold out -543,229-543.2k
PRUDENTIAL PLC Reduced -484,464-484.5k
Cetera Investment Advisers Reduced -444,495-444.5k
LPL Financial LLC Reduced -415,818-415.8k
D. E. Shaw & Co., Inc. Reduced -384,024-384.0k
JANE STREET GROUP, LLC Reduced -383,283-383.3k
MML INVESTORS SERVICES, LLC Reduced -288,726-288.7k

Biggest calls

Verition Fund Management LLC New $43.5m700.0k shares
Optiver Holding B.V. Added $29.4m473.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $28.4m456.6k shares
JANE STREET GROUP, LLC Added $26.0m418.4k shares
CITADEL ADVISORS LLC Added $12.5m201.0k shares
CAPITAL FUND MANAGEMENT S.A. New $10.1m162.4k shares
IMC-Chicago, LLC Added $5.5m88.0k shares
WOLVERINE TRADING, LLC Added $4.1m66.0k shares
Walleye Trading LLC Unchanged $2.8m44.8k shares
GROUP ONE TRADING LLC Reduced $1.5m24.3k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $72.8m1.2m shares
Verition Fund Management LLC New $43.5m700.0k shares
JANE STREET GROUP, LLC Reduced $34.5m554.9k shares
UBS Group AG Reduced $24.8m400.0k shares
WELLS FARGO & COMPANY/MN New $21.7m349.9k shares
CAPSTONE INVESTMENT ADVISORS, LLC New $18.6m300.0k shares
CAPITAL FUND MANAGEMENT S.A. Added $9.0m144.3k shares
CITADEL ADVISORS LLC Reduced $6.3m101.2k shares
WOLVERINE TRADING, LLC Reduced $2.5m40.3k shares
BANK OF AMERICA CORP /DE/ Unchanged $1.6m25.0k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 15,865,99215.9m $985.6m $985.6m 0.03% Added +7.2m +7,216,718
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 4,629,2724.6m $287.6m $287.6m 0.02% Added +444.4k +444,432
3 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,101,1403.1m $192.6m $192.6m 0.01% Added +150.8k +150,772
4 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 2,171,0392.2m $134.9m $134.9m 0.02% Added +22.3k +22,310
5 UBS Group AG 0.03% of their portfolio ZURICH, V8 2,129,7462.1m $132.3m $132.3m 0.03% Added +471.8k +471,813
6 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,371,2051.4m $85.2m $85.2m 0.02% Added +112.6k +112,644
7 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,041,7971.0m $64.7m $64.7m 0.02% Reduced -415.8k -415,818
8 1607 Capital Partners, LLC 3.99% of their portfolio Richmond, VA 852,398852.4k $53.0m $53.0m 3.99% Added +779.7k +779,675
9 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 809,517809.5k $50.3m $50.3m 0.02% Added +103.8k +103,798
10 SOUTHERN FARM BUREAU LIFE INSURANCE 5.87% of their portfolio JACKSON, MS 802,765802.8k $49.8m $49.8m 5.87% Unchanged
11 PRUDENTIAL PLC 0.30% of their portfolio LONDON, X0 655,700655.7k $40.7m $40.7m 0.30% Reduced -484.5k -484,464
12 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 583,543583.5k $36.2m $36.2m 0.01% Reduced -833.3k -833,275
13 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 454,179454.2k $28.2m $28.2m 0.02% Added +347.0k +346,975
14 SUMITOMO LIFE INSURANCE CO 0.87% of their portfolio TOKYO, M0 448,900448.9k $27.9m $27.9m 0.87% Added +212.8k +212,800
15 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 436,130436.1k $27.1m $27.1m 0.02% Reduced -9.3k -9,282
16 PGIM Custom Harvest LLC 0.40% of their portfolio NEWARK, NJ 429,002429.0k $26.6m $26.6m 0.40% Added +13.4k +13,362
17 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 414,981415.0k $25.8m $25.8m 0.03% Reduced -383.3k -383,283
18 Piedmont Capital Management, LLC 12.24% of their portfolio WHITEFISH, MT 370,047370.0k $23.2m $23.2m 12.24% Added +27.5k +27,543
19 CIBC WORLD MARKET INC. 0.05% of their portfolio TORONTO, A6 369,806369.8k $23.0m $23.0m 0.05% Reduced -12.2k -12,159
20 BANK OF NOVA SCOTIA 0.04% of their portfolio TORONTO, A6 348,406348.4k $21.6m $21.6m 0.04% Added +252.1k +252,120
21 Bensler, LLC 2.10% of their portfolio Bellevue, WA 325,231325.2k $20.2m $20.2m 2.10% Reduced -61.6k -61,628
22 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 324,186324.2k $20.1m $20.1m 0.01% Reduced -15.7k -15,705
23 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 296,638296.6k $18.4m $18.4m 0.00% Reduced -191.8k -191,800
24 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 285,296285.3k $17.7m $17.7m 0.01% Added +180.9k +180,896
25 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 259,196259.2k $16.1m $16.1m 0.01% Added +82.2k +82,235
26 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 257,671257.7k $16.0m $16.0m 0.03% Reduced -240.8k -240,817
27 SCOTIA CAPITAL INC. 0.07% of their portfolio TORONTO, A6 253,569253.6k $15.8m $15.8m 0.07% Reduced -4.6k -4,585
28 MATAURO, LLC 2.49% of their portfolio NEW YORK, NY 251,938251.9k $15.7m $15.7m 2.49% Added +46.1k +46,138
29 COURIER CAPITAL LLC 0.83% of their portfolio BUFFALO, NY 233,489233.5k $14.5m $14.5m 0.83% Reduced -619 -619
30 Allianz Asset Management GmbH 0.02% of their portfolio MUNICH, 2M 231,600231.6k $14.4m $14.4m 0.02% Reduced -160.3k -160,300
31 BROWN ADVISORY INC 0.01% of their portfolio BALTIMORE, MD 180,190180.2k $11.2m $11.2m 0.01% Reduced -2.7k -2,691
32 Almanack Investment Partners, LLC. 1.66% of their portfolio WAYNE, PA 172,613172.6k $10.7m $10.7m 1.66% Reduced -5.6k -5,609
33 Wealthspire Retirement, LLC 0.65% of their portfolio ALISO VIEJO, CA 164,343164.3k $10.2m $10.2m 0.65% Reduced -2.8k -2,829
34 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 156,169156.2k $9.7m $9.7m 0.01% Reduced -444.5k -444,495
35 GFS Advisors, LLC 1.24% of their portfolio HOUSTON, TX 155,962156.0k $9.7m $9.7m 1.24% Added +71 +71
36 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 152,326152.3k $9.5m $9.5m 0.01% Reduced -8.5k -8,511
37 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 143,285143.3k $8.9m $8.9m 0.00% Added +51.8k +51,814
38 Phoenix Financial Ltd. 0.06% of their portfolio Givatayim, L3 141,324141.3k $8.8m $8.8m 0.06% Added +68.3k +68,339
39 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 140,928140.9k $8.8m $8.8m 0.01% Added +4.1k +4,121
40 Financial Enhancement Group LLC 1.18% of their portfolio ANDERSON, IN 139,484139.5k $8.8m $8.8m 1.18% Added +2.6k +2,587
41 Circle Wealth Management, LLC 0.16% of their portfolio SUMMIT, NJ 134,456134.5k $8.4m $8.4m 0.16% New
42 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 133,897133.9k $8.3m $8.3m 0.00% Reduced -1.3m -1,349,205
43 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 129,652129.7k $8.0m $8.0m 0.02% Added +14.7k +14,722
44 Stratos Wealth Advisors, LLC 0.38% of their portfolio BEACHWOOD, OH 127,845127.8k $7.9m $7.9m 0.38% Added +25.9k +25,894
45 SSA SWISS ADVISORS AG 3.65% of their portfolio ZURICH, V8 126,864126.9k $7.9m $7.9m 3.65% Added +21.8k +21,834
46 ASHFORD CAPITAL MANAGEMENT INC 0.86% of their portfolio WILMINGTON, DE 123,833123.8k $7.7m $7.7m 0.86% Reduced -1.5k -1,505
47 NTV Asset Management LLC 0.84% of their portfolio Charleston, WV 123,741123.7k $7.7m $7.7m 0.84% Added +607 +607
48 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 122,810122.8k $7.4m $7.4m 0.01% Added +15.7k +15,724
49 Atlantic Union Bankshares Corp 0.14% of their portfolio GLEN ALLEN, VA 121,265121.3k $7.5m $7.5m 0.14% Added +59.8k +59,767
50 Koshinski Asset Management, Inc. 0.49% of their portfolio DECATUR, IL 117,597117.6k $7.3m $7.3m 0.49% Added +14.5k +14,530
51 Optiver Holding B.V. 0.12% of their portfolio AMSTERDAM, P7 115,533115.5k $7.2m $7.2m 0.12% Added +58.6k +58,588
52 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 114,411114.4k $7.1m $7.1m 0.01% Added +100.8k +100,775
53 Harel Insurance Investments & Financial Services Ltd. 0.06% of their portfolio Ramat Gan, L3 112,927112.9k $7.0m $7.0m 0.06% Reduced -66.6k -66,578
54 Equitable Holdings, Inc. 0.05% of their portfolio NEW YORK, NY 109,791109.8k $6.8m $6.8m 0.05% Added +31.3k +31,346
55 Per Stirling Capital Management, LLC. 0.76% of their portfolio AUSTIN, TX 102,022102.0k $6.3m $6.3m 0.76% Reduced -38.1k -38,079
56 Private Wealth Advisors, LLC 2.37% of their portfolio Fresno, CA 101,445101.4k $6.3m $6.3m 2.37% Reduced -19.2k -19,177
57 LYNX CAPITAL GROUP LTD /ADV 2.91% of their portfolio BEACHWOOD, OH 100,992101.0k $6.3m $6.3m 2.91% Added +977 +977
58 Vontobel Holding Ltd. 0.02% of their portfolio ZURICH, V8 98,58198.6k $6.1m $6.1m 0.02% Reduced -48.1k -48,119
59 Migdal Insurance & Financial Holdings Ltd. 0.07% of their portfolio Petach Tikva, L3 97,52497.5k $6.1m $6.1m 0.07% Reduced -92.0k -91,980
60 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 95,89595.9k $6.0m $6.0m 0.00% Reduced -384.0k -384,024
61 Allie Family Office LLC 2.79% of their portfolio MIAMI, FL 94,83894.8k $5.9m $5.9m 2.79% Reduced -51.4k -51,368
62 LEVEL FOUR ADVISORY SERVICES, LLC 0.20% of their portfolio DALLAS, TX 91,96492.0k $5.7m $5.7m 0.20% Added +22.9k +22,918
63 Jackson Wealth Management, LLC 0.55% of their portfolio LAKE MARY, FL 88,83688.8k $5.5m $5.5m 0.55% Added +648 +648
64 Norris Financial Group, LLC 1.95% of their portfolio GREENVILLE, SC 85,95386.0k $5.3m $5.3m 1.95% Reduced -108.1k -108,141
65 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 84,85384.9k $5.3m $5.3m 0.03% Added +2.1k +2,115
66 MAINSTAY CAPITAL MANAGEMENT LLC /ADV 0.46% of their portfolio GRAND BLANC, MI 73,69173.7k $4.6m $4.6m 0.46% Reduced -4.1m -4,084,383
67 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 71,22771.2k $4.4m $4.4m 0.01% Added +9.2k +9,226
68 Demars Financial Group, LLC 1.52% of their portfolio SPOKANE VALLEY, WA 70,45470.5k $4.4m $4.4m 1.52% Added +4.6k +4,587
69 RETIREMENT GUYS FORMULA LLC 1.54% of their portfolio MAUMEE, OH 70,23170.2k $4.4m $4.4m 1.54% Reduced -16.1k -16,120
70 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 70,15570.2k $4.4m $4.4m 0.01% Reduced -288.7k -288,726
71 Redhawk Wealth Advisors, Inc. 0.49% of their portfolio MINNEAPOLIS, MN 67,38567.4k $4.2m $4.2m 0.49% Added +1.7k +1,685
72 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 61,75661.8k $3.8m $3.8m 0.01% Added +339 +339
73 Quantinno Capital Management LP 0.01% of their portfolio NEW YORK, NY 59,16959.2k $3.7m $3.7m 0.01% Reduced -7.5k -7,486
74 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 58,97559.0k $3.7m $3.7m 0.01% Added +2.3k +2,328
75 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 57,72557.7k $3.6m $3.6m 0.00% Added +1.4k +1,364
76 Del-Sette Capital Management, LLC 2.22% of their portfolio SCHENECTADY, NY 57,53657.5k $3.6m $3.6m 2.22% Added +5.9k +5,922
77 Meridian Wealth Management, LLC 0.14% of their portfolio LEXINGTON, KY 56,94156.9k $3.5m $3.5m 0.14% Added +4.6k +4,608
78 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 56,79156.8k $3.5m $3.5m 0.01% Added +544 +544
79 Gladstone Institutional Advisory LLC 0.14% of their portfolio Bedminster, NJ 56,75156.8k $3.5m $3.5m 0.14% Added +18.6k +18,608
80 Summit Financial, LLC 0.05% of their portfolio PARSIPPANY, NJ 55,85955.9k $3.5m $3.5m 0.05% Reduced -1.2k -1,176
81 PKS Advisory Services, LLC 0.81% of their portfolio ALBANY, NY 55,81355.8k $3.5m $3.5m 0.81% Added +17.0k +16,952
82 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 55,03855.0k $3.4m $3.4m 0.02% Added +10.0k +9,982
83 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 54,65254.7k $3.4m $3.4m 0.01% Added +9.5k +9,463
84 LFA - Lugano Financial Advisors SA 1.77% of their portfolio LUGANO, V8 54,11854.1k $3.4m $3.4m 1.77% Added +520 +520
85 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 50,06050.1k $3.1m $3.1m 0.00% Reduced -840 -840
86 Belpointe Asset Management LLC 0.12% of their portfolio RENO, NV 49,32249.3k $3.1m $3.1m 0.12% Added +59 +59
87 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 47,60947.6k $3.0m $3.0m 0.00% Reduced -152.1k -152,083
88 Upper Left Wealth Management, LLC 1.82% of their portfolio TAMPA, FL 46,66246.7k $2.9m $2.9m 1.82% Reduced -36 -36
89 3EDGE Asset Management, LP 0.15% of their portfolio Naples, FL 42,94442.9k $2.7m $2.7m 0.15% Added +19.7k +19,718
90 Walkner Condon Financial Advisors LLC 0.42% of their portfolio MADISON, WI 42,71642.7k $2.7m $2.7m 0.42% Added +3.8k +3,805
91 Concord Wealth Partners 0.36% of their portfolio ABINGDON, VA 42,24142.2k $2.6m $2.6m 0.36% Added +487 +487
92 FOREFRONT WEALTH MANAGEMENT INC. 1.92% of their portfolio MALVERN, PA 42,11142.1k $2.6m $2.6m 1.92% Reduced -1.7k -1,657
93 WASHINGTON GROWTH STRATEGIES LLC 1.85% of their portfolio WASHINGTON, DC 41,77241.8k $2.6m $2.6m 1.85% Reduced -704 -704
94 RITHOLTZ WEALTH MANAGEMENT 0.05% of their portfolio NEW YORK, NY 41,61041.6k $2.6m $2.6m 0.05% Reduced -13 -13
95 Marshall & Sterling Wealth Advisors Inc. 1.61% of their portfolio POUGHKEEPSIE, NY 40,63440.6k $2.5m $2.5m 1.61% Added +147 +147
96 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 40,40740.4k $2.5m $2.5m 0.00% Added +8.9k +8,919
97 COLTON GROOME FINANCIAL ADVISORS, LLC 0.76% of their portfolio ASHEVILLE, NC 39,99540.0k $2.5m $2.5m 0.76% Added +3.7k +3,715
98 Eagle Strategies LLC 0.33% of their portfolio NEW YORK, NY 39,68039.7k $2.5m $2.5m 0.33% Reduced -1.7k -1,727
99 Farther Finance Advisors, LLC 0.04% of their portfolio SAN FRANCISCO, CA 38,47738.5k $2.4m $2.4m 0.04% Added +34.4k +34,407
100 Sandbox Financial Partners, LLC 0.68% of their portfolio BETHESDA, MD 38,44938.4k $2.4m $2.4m 0.68% Added +3.9k +3,935