Vault-13

SPDR INDEX SHS FDS FEZ

EURO STOXX 50 · ETP · CUSIP 78463X202

352 institutional holders +17 vs Q3 2025
43,967,38644.0m shares reported held*
$2.8bnreported value*
34 new 149 added 87 reduced 29 sold out net sold ≈ $318.7m (-4.9m 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 ($14.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $64.39. Options: 12 managers hold calls ($171.4m notional), 11 hold puts ($250.7m).

Trends to Q4 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: 335Q4 25: 352352Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025352

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 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 25Q3 25: 172 bought or addedQ3 25: 138 cut or sold outQ4 25: 183 bought or addedQ4 25: 116 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202410294
Q2 202412388
Q3 202499112
Q4 202496110
Q1 202519482
Q2 2025215113
Q3 2025172138
Q4 2025183116

Calls vs puts

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

CallsPuts
$0$200m$400m$600m$800mQ1 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 1.44Q4 25 calls: $171.4mQ4 25 puts: $250.7mQ4 25P/C 1.46
Numbers
QuarterCallsPutsP/C
Q1 2025$184.6m$669.8m3.63
Q2 2025$88.6m$297.7m3.36
Q3 2025$165.5m$237.7m1.44
Q4 2025$171.4m$250.7m1.46

Biggest buyers

1607 Capital Partners, LLC Added +1,835,855+1.8m
Allspring Global Investments Holdings, LLC New +1,359,933+1.4m
PRUDENTIAL PLC Added +568,600+568.6k
CITADEL ADVISORS LLC Added +359,129+359.1k
CITIGROUP INC Added +279,906+279.9k
Cerity Partners LLC Added +192,074+192.1k
COMMONWEALTH EQUITY SERVICES, LLC Added +116,411+116.4k
Allianz Asset Management GmbH Added +86,600+86.6k
LPL Financial LLC Added +83,616+83.6k
BANK OF AMERICA CORP /DE/ Added +66,080+66.1k

Biggest sellers

JPMORGAN CHASE & CO Reduced -7,099,212-7.1m
MORGAN STANLEY Reduced -1,216,576-1.2m
BNP PARIBAS FINANCIAL MARKETS Reduced -414,382-414.4k
JANE STREET GROUP, LLC Reduced -335,974-336.0k
BANK OF NOVA SCOTIA Reduced -263,960-264.0k
UBS Group AG Reduced -245,478-245.5k
Optiver Holding B.V. Sold out -115,533-115.5k
NATIONAL BANK OF CANADA /FI/ Reduced -97,086-97.1k
ALLIANCEBERNSTEIN L.P. Reduced -96,097-96.1k
D. E. Shaw & Co., Inc. Sold out -95,895-95.9k

Biggest calls

CITADEL ADVISORS LLC Added $50.8m788.9k shares
MILLENNIUM MANAGEMENT LLC New $44.2m686.0k shares
Optiver Holding B.V. Reduced $28.1m436.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $21.4m332.1k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $8.9m138.6k shares
JANE STREET GROUP, LLC Reduced $8.3m129.4k shares
IMC-Chicago, LLC Added $6.0m93.7k shares
Walleye Trading LLC Reduced $2.3m35.4k shares
BNP PARIBAS FINANCIAL MARKETS Reduced $643.9k100 shares
GROUP ONE TRADING LLC Reduced $502.2k7.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $106.9m1.7m shares
CITADEL ADVISORS LLC Added $69.1m1.1m shares
SCOPUS ASSET MANAGEMENT, L.P. New $22.5m350.0k shares
JANE STREET GROUP, LLC Reduced $21.1m328.3k shares
UBS Group AG Reduced $16.1m250.0k shares
CAPITAL FUND MANAGEMENT S.A. Added $12.0m185.9k shares
Walleye Trading LLC Unchanged $1.5m23.4k shares
Squarepoint Ops LLC Unchanged $998.0k15.5k shares
Balyasny Asset Management L.P. New $450.7k7.0k shares
Corecam Pte. Ltd. New $18.6k371.4k 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.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 8,766,7808.8m $564.5m $564.5m 0.04% Reduced -7.1m -7,099,212
2 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,412,6963.4m $219.7m $219.7m 0.01% Reduced -1.2m -1,216,576
3 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,167,2203.2m $203.9m $203.9m 0.01% Added +66.1k +66,080
4 1607 Capital Partners, LLC 11.80% of their portfolio Richmond, VA 2,688,2532.7m $173.1m $173.1m 11.80% Added +1.8m +1,835,855
5 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 2,163,7792.2m $139.3m $139.3m 0.02% Reduced -7.3k -7,260
6 UBS Group AG 0.02% of their portfolio ZURICH, V8 1,884,2681.9m $121.3m $121.3m 0.02% Reduced -245.5k -245,478
7 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,432,9111.4m $92.3m $92.3m 0.02% Added +61.7k +61,706
8 Allspring Global Investments Holdings, LLC 0.14% of their portfolio CHARLOTTE, NC 1,359,9331.4m $87.6m $87.6m 0.14% New
9 PRUDENTIAL PLC 0.63% of their portfolio LONDON, X0 1,224,3001.2m $78.8m $78.8m 0.63% Added +568.6k +568,600
10 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,125,4131.1m $72.5m $72.5m 0.02% Added +83.6k +83,616
11 SOUTHERN FARM BUREAU LIFE INSURANCE 5.35% of their portfolio JACKSON, MS 802,765802.8k $51.8m $51.8m 5.35% Unchanged
12 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 713,420713.4k $45.9m $45.9m 0.01% Reduced -96.1k -96,097
13 Robinhood Asset Management, LLC 3.57% of their portfolio MENLO PARK, CA 696,212696.2k $44.8m $44.8m 3.57% First filing
14 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 626,595626.6k $40.3m $40.3m 0.01% Added +43.1k +43,052
15 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 565,202565.2k $36.4m $36.4m 0.02% Added +279.9k +279,906
16 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 436,414436.4k $28.1m $28.1m 0.02% Added +284 +284
17 PGIM Custom Harvest LLC 0.41% of their portfolio NEWARK, NJ 434,837434.8k $28.0m $28.0m 0.41% Added +5.8k +5,835
18 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 406,738406.7k $26.2m $26.2m 0.02% Added +359.1k +359,129
19 SUMITOMO LIFE INSURANCE CO 0.69% of their portfolio TOKYO, M0 391,300391.3k $25.2m $25.2m 0.69% Reduced -57.6k -57,600
20 Piedmont Capital Management, LLC 12.26% of their portfolio WHITEFISH, MT 373,009373.0k $24.0m $24.0m 12.26% Added +3.0k +2,962
21 CIBC WORLD MARKET INC. 0.04% of their portfolio TORONTO, A6 369,078369.1k $23.8m $23.8m 0.04% Reduced -728 -728
22 Bensler, LLC 2.16% of their portfolio Bellevue, WA 334,515334.5k $21.5m $21.5m 2.16% Added +9.3k +9,284
23 Allianz Asset Management GmbH 0.02% of their portfolio MUNICH, 2M 318,200318.2k $20.5m $20.5m 0.02% Added +86.6k +86,600
24 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 315,179315.2k $20.3m $20.3m 0.01% Reduced -9.0k -9,007
25 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 268,737268.7k $17.3m $17.3m 0.02% Added +116.4k +116,411
26 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 267,910267.9k $17.3m $17.3m 0.00% Reduced -28.7k -28,728
27 SCOTIA CAPITAL INC. 0.07% of their portfolio TORONTO, A6 263,948263.9k $17.0m $17.0m 0.07% Added +10.4k +10,379
28 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 258,347258.3k $16.6m $16.6m 0.01% Reduced -849 -849
29 MATAURO, LLC 2.50% of their portfolio NEW YORK, NY 258,010258.0k $16.6m $16.6m 2.50% Added +6.1k +6,072
30 COURIER CAPITAL LLC 0.92% of their portfolio BUFFALO, NY 253,932253.9k $16.4m $16.4m 0.92% Added +20.4k +20,443
31 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 222,433222.4k $14.3m $14.3m 0.03% Reduced -35.2k -35,238
32 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 195,639195.6k $12.6m $12.6m 0.02% Added +192.1k +192,074
33 BROWN ADVISORY INC 0.02% of their portfolio BALTIMORE, MD 177,563177.6k $11.4m $11.4m 0.02% Reduced -2.6k -2,627
34 Almanack Investment Partners, LLC. 1.82% of their portfolio WAYNE, PA 165,966166.0k $10.7m $10.7m 1.82% Reduced -6.6k -6,647
35 Wealthspire Retirement, LLC 0.65% of their portfolio ALISO VIEJO, CA 165,486165.5k $10.7m $10.7m 0.65% Added +1.1k +1,143
36 GFS Advisors, LLC 1.20% of their portfolio HOUSTON, TX 157,222157.2k $10.1m $10.1m 1.20% Added +1.3k +1,260
37 Atlantic Union Bankshares Corp 0.18% of their portfolio GLEN ALLEN, VA 152,763152.8k $9.8m $9.8m 0.18% Added +31.5k +31,498
38 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 148,588148.6k $9.6m $9.6m 0.01% Reduced -7.6k -7,581
39 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 145,448145.4k $9.4m $9.4m 0.00% Added +2.2k +2,163
40 Equitable Holdings, Inc. 0.06% of their portfolio NEW YORK, NY 145,442145.4k $9.4m $9.4m 0.06% Added +35.7k +35,651
41 Financial Enhancement Group LLC 1.21% of their portfolio ANDERSON, IN 140,939140.9k $9.3m $9.3m 1.21% Added +1.5k +1,455
42 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 140,350140.3k $9.0m $9.0m 0.01% Reduced -578 -578
43 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 140,106140.1k $9.0m $9.0m 0.02% Added +10.5k +10,454
44 Circle Wealth Management, LLC 0.13% of their portfolio SUMMIT, NJ 134,771134.8k $8.7m $8.7m 0.13% Added +315 +315
45 Stratos Wealth Advisors, LLC 0.41% of their portfolio BEACHWOOD, OH 130,789130.8k $8.4m $8.4m 0.41% Added +2.9k +2,944
46 NTV Asset Management LLC 0.86% of their portfolio Charleston, WV 125,862125.9k $8.1m $8.1m 0.86% Added +2.1k +2,121
47 ASHFORD CAPITAL MANAGEMENT INC 0.89% of their portfolio WILMINGTON, DE 123,501123.5k $8.0m $8.0m 0.89% Reduced -332 -332
48 Koshinski Asset Management, Inc. 0.51% of their portfolio DECATUR, IL 122,569122.6k $7.9m $7.9m 0.51% Added +5.0k +4,972
49 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 115,624115.6k $7.4m $7.4m 0.00% Added +57.9k +57,899
50 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 115,598115.6k $7.4m $7.4m 0.01% Added +53.8k +53,842
51 Migdal Insurance & Financial Holdings Ltd. 0.06% of their portfolio Petach Tikva, L3 115,241115.2k $7.4m $7.4m 0.06% Added +17.7k +17,717
52 Harel Insurance Investments & Financial Services Ltd. 0.06% of their portfolio Ramat Gan, L3 115,170115.2k $7.4m $7.4m 0.06% Added +2.2k +2,243
53 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 112,694112.7k $7.3m $7.3m 0.01% Reduced -10.1k -10,116
54 Private Wealth Advisors, LLC 2.44% of their portfolio Fresno, CA 105,218105.2k $6.8m $6.8m 2.44% Added +3.8k +3,773
55 Per Stirling Capital Management, LLC. 0.75% of their portfolio AUSTIN, TX 103,149103.1k $6.6m $6.6m 0.75% Added +1.1k +1,127
56 LYNX CAPITAL GROUP LTD /ADV 2.99% of their portfolio BEACHWOOD, OH 101,214101.2k $6.5m $6.5m 2.99% Added +222 +222
57 SSA SWISS ADVISORS AG 3.00% of their portfolio ZURICH, V8 100,054100.1k $6.4m $6.4m 3.00% Reduced -26.8k -26,810
58 LEVEL FOUR ADVISORY SERVICES, LLC 0.21% of their portfolio DALLAS, TX 97,42597.4k $6.3m $6.3m 0.21% Added +5.5k +5,461
59 Vontobel Holding Ltd. 0.02% of their portfolio ZURICH, V8 96,62996.6k $6.2m $6.2m 0.02% Reduced -2.0k -1,952
60 Allie Family Office LLC 2.85% of their portfolio MIAMI, FL 94,83894.8k $6.1m $6.1m 2.85% Unchanged
61 Jackson Wealth Management, LLC 0.55% of their portfolio LAKE MARY, FL 88,06288.1k $5.7m $5.7m 0.55% Reduced -774 -774
62 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 85,89685.9k $5.5m $5.5m 0.01% Added +14.7k +14,669
63 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 84,68784.7k $5.5m $5.5m 0.01% Added +14.5k +14,532
64 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 84,44684.4k $5.5m $5.5m 0.01% Reduced -264.0k -263,960
65 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 80,35880.4k $5.2m $5.2m 0.02% Reduced -4.5k -4,495
66 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 79,00779.0k $5.1m $5.1m 0.01% Reduced -336.0k -335,974
67 Redhawk Wealth Advisors, Inc. 0.54% of their portfolio MINNEAPOLIS, MN 75,04475.0k $4.8m $4.8m 0.54% Added +7.7k +7,659
68 Demars Financial Group, LLC 1.59% of their portfolio SPOKANE VALLEY, WA 73,74473.7k $4.7m $4.7m 1.59% Added +3.3k +3,290
69 Gladstone Institutional Advisory LLC 0.18% of their portfolio Bedminster, NJ 71,99072.0k $4.6m $4.6m 0.18% Added +15.2k +15,239
70 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 71,03771.0k $4.6m $4.6m 0.00% Reduced -62.9k -62,860
71 MAINSTAY CAPITAL MANAGEMENT LLC /ADV 0.35% of their portfolio GRAND BLANC, MI 70,69270.7k $4.6m $4.6m 0.35% Reduced -3.0k -2,999
72 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 66,42566.4k $4.3m $4.3m 0.02% Added +11.4k +11,387
73 Cordoba Advisory Partners LLC 1.02% of their portfolio NEW YORK, NY 64,34464.3k $4.1m $4.1m 1.02% First filing
74 Climber Capital SA 2.23% of their portfolio NYON, V8 62,84962.8k $3.4m $3.4m 2.23% First filing
75 Quantinno Capital Management LP 0.01% of their portfolio NEW YORK, NY 62,67262.7k $4.0m $4.0m 0.01% Added +3.5k +3,503
76 3EDGE Asset Management, LP 0.21% of their portfolio Naples, FL 61,59761.6k $4.0m $4.0m 0.21% Added +18.7k +18,653
77 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 60,57960.6k $3.9m $3.9m 0.01% Added +1.6k +1,604
78 PKS Advisory Services, LLC 0.88% of their portfolio ALBANY, NY 59,82659.8k $3.9m $3.9m 0.88% Added +4.0k +4,013
79 Phoenix Financial Ltd. 0.04% of their portfolio Givatayim, L3 59,06159.1k $3.8m $3.8m 0.04% Reduced -82.3k -82,263
80 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 58,88058.9k $3.8m $3.8m 0.01% Added +4.2k +4,228
81 Norris Financial Group, LLC 1.26% of their portfolio GREENVILLE, SC 57,73557.7k $3.7m $3.7m 1.26% Reduced -28.2k -28,218
82 Del-Sette Capital Management, LLC 2.27% of their portfolio SCHENECTADY, NY 57,23057.2k $3.7m $3.7m 2.27% Reduced -306 -306
83 Summit Financial, LLC 0.05% of their portfolio PARSIPPANY, NJ 56,87556.9k $3.7m $3.7m 0.05% Added +1.0k +1,016
84 Meridian Wealth Management, LLC 0.13% of their portfolio LEXINGTON, KY 56,78556.8k $3.7m $3.7m 0.13% Reduced -156 -156
85 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 56,58556.6k $3.6m $3.6m 0.01% Reduced -206 -206
86 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 56,07956.1k $3.6m $3.6m 0.00% Added +15.7k +15,672
87 WASHINGTON GROWTH STRATEGIES LLC 2.33% of their portfolio WASHINGTON, DC 56,05656.1k $3.6m $3.6m 2.33% Added +14.3k +14,284
88 Eagle Strategies LLC 0.43% of their portfolio NEW YORK, NY 51,76551.8k $3.3m $3.3m 0.43% Added +12.1k +12,085
89 Rathbones Group PLC 0.01% of their portfolio Liverpool, X0 48,55048.5k $3.1m $3.1m 0.01% Added +24.3k +24,275
90 Belpointe Asset Management LLC 0.11% of their portfolio RENO, NV 48,40248.4k $3.1m $3.1m 0.11% Reduced -920 -920
91 Upper Left Wealth Management, LLC 1.89% of their portfolio TAMPA, FL 48,25548.3k $3.1m $3.1m 1.89% Added +1.6k +1,593
92 Sandbox Financial Partners, LLC 0.83% of their portfolio BETHESDA, MD 46,72046.7k $3.0m $3.0m 0.83% Added +8.3k +8,271
93 Marshall & Sterling Wealth Advisors Inc. 1.94% of their portfolio POUGHKEEPSIE, NY 45,58545.6k $2.9m $2.9m 1.94% Added +5.0k +4,951
94 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 45,54045.5k $2.9m $2.9m 0.00% Reduced -4.5k -4,520
95 QUATTRO FINANCIAL ADVISORS LLC 0.85% of their portfolio The Woodlands, TX 44,31644.3k $2.9m $2.9m 0.85% Added +24.6k +24,590
96 GTS SECURITIES LLC 0.10% of their portfolio NEW YORK, NY 43,81543.8k $2.8m $2.8m 0.10% New
97 Karnit Road Accident Victims Compensation Fund 1.59% of their portfolio TEL-AVIV, L3 43,80143.8k $2.8m $2.8m 1.59% First filing
98 Concord Wealth Partners 0.36% of their portfolio ABINGDON, VA 43,29543.3k $2.8m $2.8m 0.36% Added +1.1k +1,054
99 COLTON GROOME FINANCIAL ADVISORS, LLC 0.79% of their portfolio ASHEVILLE, NC 42,66742.7k $2.7m $2.7m 0.79% Added +2.7k +2,672
100 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 42,26942.3k $2.7m $2.7m 0.00% Added +34.9k +34,861