Vault-13

SPDR SER TR KRE

S&P REGL BKG · ETP · CUSIP 78464A698

452 institutional holders -28 vs Q2 2023
79,690,80779.7m shares reported held*
$3.3bnreported value*
67 new 120 added 172 reduced 93 sold out net sold ≈ $556.3m (-13.3m 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 ($5.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $41.76. Options: 32 managers hold calls ($1.4bn notional), 55 hold puts ($2.7bn).

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 443Q4 22: 446Q1 23: 488Q2 23: 480Q3 23: 452452Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 2022443
Q4 2022446
Q1 2023488
Q2 2023480
Q3 2023452

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 22: 169 bought or addedQ4 22: 224 cut or sold outQ4 22Q1 23: 304 bought or addedQ1 23: 205 cut or sold outQ1 23Q2 23: 266 bought or addedQ2 23: 252 cut or sold outQ2 23Q3 23: 187 bought or addedQ3 23: 265 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022169224
Q1 2023304205
Q2 2023266252
Q3 2023187265

Calls vs puts

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

CallsPuts
$0$2bn$4bn$6bnQ4 22 calls: $1.0bnQ4 22 puts: $3.2bnQ4 22P/C 3.13Q1 23 calls: $2.7bnQ1 23 puts: $4.0bnQ1 23P/C 1.51Q2 23 calls: $1.4bnQ2 23 puts: $2.8bnQ2 23P/C 2.01Q3 23 calls: $1.4bnQ3 23 puts: $2.7bnQ3 23P/C 2.03
Numbers
QuarterCallsPutsP/C
Q4 2022$1.0bn$3.2bn3.13
Q1 2023$2.7bn$4.0bn1.51
Q2 2023$1.4bn$2.8bn2.01
Q3 2023$1.4bn$2.7bn2.03

Biggest buyers

CITIGROUP INC Added +3,211,597+3.2m
Main Management ETF Advisors, LLC New +1,433,700+1.4m
Caption Management, LLC New +1,120,000+1.1m
Squarepoint Ops LLC New +822,939+822.9k
Alaska Permanent Fund Corp Added +718,735+718.7k
NATIONAL BANK OF CANADA /FI/ Added +703,322+703.3k
TWO SIGMA ADVISERS, LP New +699,200+699.2k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +697,475+697.5k
TWO SIGMA INVESTMENTS, LP Added +565,590+565.6k
Hudson Bay Capital Management LP New +500,000+500.0k

Biggest sellers

UBS Group AG Reduced -3,449,865-3.4m
BANK OF AMERICA CORP /DE/ Reduced -3,445,950-3.4m
JPMORGAN CHASE & CO Reduced -2,113,136-2.1m
ROYAL BANK OF CANADA Reduced -1,790,648-1.8m
MORGAN STANLEY Reduced -1,718,840-1.7m
Rokos Capital Management LLP Sold out -1,607,690-1.6m
Ergoteles LLC Sold out -1,120,542-1.1m
TORONTO DOMINION BANK Reduced -1,005,400-1.0m
MOORE CAPITAL MANAGEMENT, LP Sold out -832,036-832.0k
Balyasny Asset Management L.P. Reduced -726,947-726.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $326.5m7.8m shares
CITADEL ADVISORS LLC Reduced $171.9m4.1m shares
UBS Group AG Reduced $124.6m3.0m shares
MILLENNIUM MANAGEMENT LLC Added $96.3m2.3m shares
GOLDMAN SACHS GROUP INC Reduced $83.5m2.0m shares
CAPITAL FUND MANAGEMENT S.A. Reduced $64.3m1.5m shares
MARSHALL WACE, LLP Added $53.0m1.3m shares
NOMURA HOLDINGS INC Added $48.5m1.2m shares
CITIGROUP INC Added $43.1m1.0m shares
BANK OF AMERICA CORP /DE/ Reduced $38.1m912.3k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $420.2m10.1m shares
MILLENNIUM MANAGEMENT LLC Reduced $365.0m8.7m shares
CITADEL ADVISORS LLC Reduced $260.9m6.2m shares
UBS Group AG Reduced $256.0m6.1m shares
BNP PARIBAS FINANCIAL MARKETS Reduced $123.7m29.6k shares
BANK OF AMERICA CORP /DE/ Reduced $123.1m2.9m shares
Parallax Volatility Advisers, L.P. Added $114.7m2.7m shares
Balyasny Asset Management L.P. Added $89.8m2.1m shares
CAPITAL FUND MANAGEMENT S.A. Reduced $88.0m2.1m shares
GOLDMAN SACHS GROUP INC Added $67.5m1.6m 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 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GOLDMAN SACHS GROUP INC 0.09% of their portfolio NEW YORK, NY 8,556,3408.6m $357.4m $357.4m 0.09% Added +432.5k +432,536
2 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 1.46% of their portfolio TORONTO, A6 7,700,0007.7m $321.6m $321.6m 1.46% Added +697.5k +697,475
3 CITIGROUP INC 0.35% of their portfolio NEW YORK, NY 5,838,5525.8m $243.9m $243.9m 0.35% Added +3.2m +3,211,597
4 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 5,416,0595.4m $226.2m $226.2m 0.02% Reduced -1.7m -1,718,840
5 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 4,303,5704.3m $179.8m $179.8m 0.02% Reduced -3.4m -3,445,950
6 TORONTO DOMINION BANK 0.10% of their portfolio TORONTO, ONTARIO, A6 3,018,2003.0m $126.1m $126.1m 0.10% Reduced -1.0m -1,005,400
7 BARCLAYS PLC 0.07% of their portfolio LONDON, X0 2,609,1532.6m $109.0m $109.0m 0.07% Added +105.7k +105,704
8 UBS Group AG 0.05% of their portfolio ZURICH, V8 2,370,2932.4m $99.0m $99.0m 0.05% Reduced -3.4m -3,449,865
9 TWO SIGMA INVESTMENTS, LP 0.25% of their portfolio NEW YORK, NY 2,109,6002.1m $88.1m $88.1m 0.25% Added +565.6k +565,590
10 BNP PARIBAS FINANCIAL MARKETS 0.15% of their portfolio PARIS, I0 1,595,0771.6m $66.6m $66.6m 0.15% Reduced -560.3k -560,278
11 Alaska Permanent Fund Corp 1.22% of their portfolio JUNEAU, AK 1,548,8401.5m $64.7m $64.7m 1.22% Added +718.7k +718,735
12 NATIONAL BANK OF CANADA /FI/ 0.11% of their portfolio MONTREAL, A8 1,522,6471.5m $62.0m $62.0m 0.11% Added +703.3k +703,322
13 Main Management ETF Advisors, LLC 4.25% of their portfolio SAN FRANCISCO, CA 1,433,7001.4m $59.9m $59.9m 4.25% New
14 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,398,2721.4m $58.4m $58.4m 0.01% Reduced -2.1m -2,113,136
15 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 1,339,9501.3m $56.0m $56.0m 0.04% Added +145.4k +145,395
16 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,282,7601.3m $53.6m $53.6m 0.02% Reduced -1.8m -1,790,648
17 CREDIT SUISSE AG/ 0.05% of their portfolio ZURICH, V8 1,272,0731.3m $53.1m $53.1m 0.05% Added +84.3k +84,283
18 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.08% of their portfolio BALA CYNWYD, PA 1,239,1121.2m $51.8m $51.8m 0.08% Reduced -491.5k -491,509
19 Caption Management, LLC 6.04% of their portfolio OKLAHOMA CITY, OK 1,120,0001.1m $46.8m $46.8m 6.04% New
20 JANE STREET GROUP, LLC 0.07% of their portfolio NEW YORK, NY 1,069,7481.1m $44.7m $44.7m 0.07% Reduced -583.9k -583,921
21 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 929,782929.8k $38.8m $38.8m 0.01% Reduced -598.3k -598,338
22 Parallax Volatility Advisers, L.P. 1.24% of their portfolio San Francisco, CA 848,197848.2k $35.4m $35.4m 1.24% Added +253.1k +253,102
23 Squarepoint Ops LLC 0.17% of their portfolio NEW YORK, NY 822,939822.9k $34.4m $34.4m 0.17% New
24 TWO SIGMA ADVISERS, LP 0.07% of their portfolio NEW YORK, NY 699,200699.2k $29.2m $29.2m 0.07% New
25 CAPSTONE INVESTMENT ADVISORS, LLC 0.75% of their portfolio NEW YORK, NY 676,421676.4k $28.3m $28.3m 0.75% Added +19.2k +19,198
26 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 574,231574.2k $24.0m $24.0m 0.07% Reduced -726.9k -726,947
27 Hudson Bay Capital Management LP 0.10% of their portfolio STAMFORD, CT 500,000500.0k $20.9m $20.9m 0.10% New
28 Marex Group Ltd 2.66% of their portfolio London, X0 450,000450.0k $18.8m $18.8m 2.66% Added +300.0k +300,000
29 Twin Tree Management, LP 0.62% of their portfolio DALLAS, TX 446,222446.2k $18.6m $18.6m 0.62% Reduced -555.4k -555,416
30 Main Management LLC 1.86% of their portfolio SAN FRANCISCO, CA 439,653439.7k $18.4m $18.4m 1.86% Added +432.3k +432,288
31 CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio TORONTO ONTARIO, A6 400,000400.0k $16.7m $16.7m 0.02% Unchanged
32 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 395,202395.2k $16.6m $16.6m 0.02% Added +36.8k +36,798
33 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 382,576382.6k $16.7m $16.7m 0.01% Added +68.1k +68,092
34 Schonfeld Strategic Advisors LLC 0.15% of their portfolio NEW YORK, NY 382,246382.2k $16.0m $16.0m 0.15% Added +319.3k +319,306
35 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 365,630365.6k $15.3m $15.3m 0.00% New
36 HUNTINGTON NATIONAL BANK 0.14% of their portfolio COLUMBUS, OH 330,701330.7k $13.8m $13.8m 0.14% Reduced -7.8k -7,834
37 Rhino Investment Partners, Inc 3.65% of their portfolio WEST CONSHOHOCKEN, PA 320,000320.0k $13.4m $13.4m 3.65% Added +6.1k +6,120
38 Walleye Trading LLC 0.31% of their portfolio NEW YORK, NY 315,652315.7k $13.2m $13.2m 0.31% Added +233.3k +233,268
39 Goodman Financial Corp 3.78% of their portfolio HOUSTON, TX 309,441309.4k $12.9m $12.9m 3.78% Added +11.3k +11,339
40 BlackRock Inc. 0.00% of their portfolio New York, NY 300,000300.0k $12.5m $12.5m 0.00% Added +300.0k +299,963
41 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.09% of their portfolio NEW YORK, NY 281,633281.6k $11.8m $11.8m 0.09% Added +275.9k +275,888
42 Cetera Advisors LLC 0.17% of their portfolio DENVER, CO 268,060268.1k $11.2m $11.2m 0.17% Reduced -11.3k -11,299
43 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 265,581265.6k $11.1m $11.1m 0.01% Reduced -440.2k -440,172
44 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 257,052257.1k $10.7m $10.7m 0.02% Reduced -206.8k -206,848
45 CX Institutional 0.58% of their portfolio AUBURN, IN 250,496250.5k $10.5m $10.5m 0.58% Added +21.3k +21,348
46 MUHLENKAMP & CO INC 3.59% of their portfolio WEXFORD, PA 249,235249.2k $10.4m $10.4m 3.59% Unchanged
47 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.19% of their portfolio New York, NY 245,606245.6k $10.3m $10.3m 0.19% Reduced -172 -172
48 Varma Mutual Pension Insurance Co 0.12% of their portfolio Varma, H9 242,532242.5k $10.1m $10.1m 0.12% Unchanged
49 PEAK6 Investments LLC 0.48% of their portfolio CHICAGO, IL 235,207235.2k $9.8m $9.8m 0.48% Reduced -119.4k -119,361
50 Forest Hill Capital, LLC 5.09% of their portfolio LITTLE ROCK, AR 235,000235.0k $9.8m $9.8m 5.09% Reduced -93.0k -93,000
51 STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio MADISON, WI 230,237230.2k $9.6m $9.6m 0.03% New
52 Venture Visionary Partners LLC 0.56% of their portfolio Sylvania, OH 222,465222.5k $9.3m $9.3m 0.56% Added +7.1k +7,099
53 Pentwater Capital Management LP 0.09% of their portfolio Naples, FL 220,000220.0k $9.2m $9.2m 0.09% Reduced -231.7k -231,691
54 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 207,836207.8k $8.7m $8.7m 0.00% Reduced -187.0k -187,001
55 Optiver Holding B.V. 0.24% of their portfolio AMSTERDAM, P7 201,937201.9k $8.4m $8.4m 0.24% New
56 DC Investments Management, LLC 10.34% of their portfolio MCLEAN, VA 197,360197.4k $8.2m $8.2m 10.34% Reduced -47.9k -47,926
57 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 187,799187.8k $7.8m $7.8m 0.01% Reduced -61.9k -61,879
58 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 181,582181.6k $7.6m $7.6m 0.01% Added +58.0k +57,971
59 Terril Brothers, Inc. 3.59% of their portfolio St. Louis, MO 177,420177.4k $7.4m $7.4m 3.59% Reduced -4.8k -4,760
60 Integrated Wealth Concepts LLC 0.13% of their portfolio WALTHAM, MA 171,348171.3k $7.2m $7.2m 0.13% Reduced -1.2k -1,217
61 One Capital Management, LLC 0.31% of their portfolio WESTLAKE VILLAGE, CA 167,720167.7k $7.0m $7.0m 0.31% Added +20.9k +20,908
62 GTS SECURITIES LLC 0.14% of their portfolio NEW YORK, NY 161,410161.4k $6.7m $6.7m 0.14% Reduced -196.3k -196,257
63 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 154,980155.0k $6.5m $6.5m 0.01% Reduced -28.8k -28,846
64 STRS OHIO 0.03% of their portfolio COLUMBUS, OH 148,000148.0k $6.2m $6.2m 0.03% Unchanged
65 SIGMA INVESTMENT COUNSELORS INC 0.46% of their portfolio NORTHVILLE, MI 147,263147.3k $6.2m $6.2m 0.46% Reduced -4.2k -4,242
66 Segment Wealth Management, LLC 0.56% of their portfolio HOUSTON, TX 132,910132.9k $5.6m $5.6m 0.56% Reduced -4.0k -4,006
67 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.07% of their portfolio Madrid, U3 131,960132.0k $5.6m $5.6m 0.07% Added +8.6k +8,561
68 STEVENS CAPITAL MANAGEMENT LP 1.58% of their portfolio RADNOR, PA 130,900130.9k $5.5m $5.5m 1.58% New
69 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.05% of their portfolio VICTORIA, A1 129,000129.0k $5.4m $5.4m 0.05% Reduced -233.0k -233,000
70 Graypoint LLC 0.48% of their portfolio Albany, NY 121,229121.2k $5.1m $5.1m 0.48% Reduced -1.4k -1,438
71 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 119,269119.3k $5.0m $5.0m 0.01% Added +10.9k +10,937
72 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 118,028118.0k $4.9m $4.9m 0.02% Reduced -12.6k -12,598
73 Michelson Medical Research Foundation, Inc. 3.23% of their portfolio Los Angeles, CA 114,700114.7k $4.8m $4.8m 3.23% New
74 ARVEST TRUST CO N A 0.31% of their portfolio ROGERS, AR 113,287113.3k $4.7m $4.7m 0.31% Added +1.9k +1,940
75 GENDELL JEFFREY L 0.27% of their portfolio Greenwich, CT 111,727111.7k $4.7m $4.7m 0.27% New
76 Lighthouse Investment Partners, LLC 0.28% of their portfolio Palm Beach Gardens, FL 111,696111.7k $4.7m $4.7m 0.28% Added +29.5k +29,497
77 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 109,093109.1k $4.6m $4.6m 0.01% Added +1.9k +1,882
78 SG Americas Securities, LLC 0.06% of their portfolio NEW YORK, NY 104,403104.4k $4.4m $4.4m 0.06% Reduced -10.2k -10,160
79 Grassi Investment Management 0.49% of their portfolio SANTA CLARA, CA 102,665102.7k $4.3m $4.3m 0.49% Added +2.8k +2,780
80 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 102,308102.3k $4.3m $4.3m 0.00% Reduced -145.2k -145,200
81 Composition Wealth, LLC 0.13% of their portfolio LOS ANGELES, CA 100,236100.2k $4.2m $4.2m 0.13% Reduced -7.6k -7,640
82 Carnegie Investment Counsel 0.16% of their portfolio PEPPER PIKE, OH 98,52198.5k $4.1m $4.1m 0.16% Reduced -2.3k -2,260
83 Atom Investors LP 0.93% of their portfolio AUSTIN, TX 97,36797.4k $4.1m $4.1m 0.93% Reduced -49.2k -49,166
84 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 96,74096.7k $4.0m $4.0m 0.00% Reduced -15.8k -15,795
85 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 93,62893.6k $3.9m $3.9m 0.01% Reduced -54.7k -54,679
86 Jefferies Financial Group Inc. 0.10% of their portfolio NEW YORK, NY 93,20493.2k $3.9m $3.9m 0.10% Added +23.0k +23,000
87 Cutler Group LLC / CA 0.61% of their portfolio SAN FRANCISCO, CA 92,05792.1k $3.8m $3.8m 0.61% Added +149 +149
88 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 89,70389.7k $3.7m $3.7m 0.01% Reduced -33.6k -33,600
89 BRANT POINT INVESTMENT MANAGEMENT LLC 0.87% of their portfolio New York, NY 88,25488.3k $3.7m $3.7m 0.87% Added +24.2k +24,244
90 Laurion Capital Management LP 0.09% of their portfolio NEW YORK, NY 81,40081.4k $3.4m $3.4m 0.09% Added +8.1k +8,100
91 KCM INVESTMENT ADVISORS LLC 0.15% of their portfolio GREENBRAE, CA 80,55280.6k $3.4m $3.4m 0.15% Reduced -4.4k -4,418
92 FLPUTNAM INVESTMENT MANAGEMENT CO 0.09% of their portfolio PORTLAND, ME 80,09180.1k $3.3m $3.3m 0.09% Added +66.3k +66,350
93 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 78,79978.8k $3.3m $3.3m 0.02% Added +5.8k +5,797
94 Marathon Trading Investment Management LLC 2.52% of their portfolio RADNOR, PA 78,69878.7k $3.3m $3.3m 2.52% Reduced -31.9k -31,900
95 Raymond James Financial Services Advisors, Inc. 0.01% of their portfolio ST. PETERSBURG, FL 75,24575.2k $3.1m $3.1m 0.01% Reduced -56.7k -56,680
96 Annandale Capital, LLC 0.94% of their portfolio DALLAS, TX 75,20075.2k $3.1m $3.1m 0.94% Unchanged
97 Taylor & Morgan Wealth Management, LLC 2.80% of their portfolio TROY, MI 74,48374.5k $3.1m $3.1m 2.80% Added +1.1k +1,093
98 Round Rock Advisors LLC 1.13% of their portfolio WILTON, CT 71,12171.1k $3.0m $3.0m 1.13% Added +4.7k +4,731
99 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 70,57670.6k $2.9m $2.9m 0.01% New
100 INDEPENDENT FINANCIAL GROUP, LLC 0.19% of their portfolio SAN DIEGO, CA 68,61268.6k $2.9m $2.9m 0.19% Reduced -27.9k -27,932