Vault-13

SPDR SER TR KRE

S&P REGL BKG · ETP · CUSIP 78464A698

527 institutional holders +75 vs Q3 2023
86,590,39586.6m shares reported held*
$4.6bnreported value*
113 new 156 added 160 reduced 64 sold out net bought ≈ $314.5m (+6.0m 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 ($4.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $52.70. Options: 36 managers hold calls ($1.9bn notional), 52 hold puts ($3.6bn).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 443Q4 22: 446Q1 23: 488Q2 23: 480Q3 23: 452Q4 23: 527527Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022443
Q4 2022446
Q1 2023488
Q2 2023480
Q3 2023452
Q4 2023527

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 23Q4 23: 269 bought or addedQ4 23: 224 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022169224
Q1 2023304205
Q2 2023266252
Q3 2023187265
Q4 2023269224

Calls vs puts

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

CallsPuts
$0$2bn$4bn$6bnQ1 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 2.03Q4 23 calls: $1.9bnQ4 23 puts: $3.6bnQ4 23P/C 1.91
Numbers
QuarterCallsPutsP/C
Q1 2023$2.7bn$4.0bn1.51
Q2 2023$1.4bn$2.8bn2.01
Q3 2023$1.4bn$2.7bn2.03
Q4 2023$1.9bn$3.6bn1.91

Biggest buyers

MORGAN STANLEY Added +8,225,133+8.2m
Phoenix Financial Ltd. New +3,549,700+3.5m
Castle Hook Partners LP New +2,377,977+2.4m
MOORE CAPITAL MANAGEMENT, LP New +2,064,974+2.1m
JPMORGAN CHASE & CO Added +1,929,338+1.9m
BNP PARIBAS FINANCIAL MARKETS Added +1,843,083+1.8m
CITADEL ADVISORS LLC Added +1,624,989+1.6m
WELLS FARGO & COMPANY/MN Added +1,069,829+1.1m
Main Management ETF Advisors, LLC Added +958,800+958.8k
BESSEMER GROUP INC Added +848,656+848.7k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -6,769,236-6.8m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -4,090,000-4.1m
CITIGROUP INC Reduced -3,947,733-3.9m
TWO SIGMA INVESTMENTS, LP Reduced -2,105,750-2.1m
BANK OF AMERICA CORP /DE/ Reduced -2,040,045-2.0m
TORONTO DOMINION BANK Reduced -1,914,700-1.9m
BARCLAYS PLC Reduced -1,524,397-1.5m
Squarepoint Ops LLC Sold out -822,939-822.9k
TWO SIGMA ADVISERS, LP Sold out -699,200-699.2k
UBS Group AG Reduced -609,959-610.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $506.8m9.7m shares
CITADEL ADVISORS LLC Added $266.0m5.1m shares
BANK OF AMERICA CORP /DE/ Added $135.3m2.6m shares
MILLENNIUM MANAGEMENT LLC Reduced $103.0m2.0m shares
GOLDMAN SACHS GROUP INC Reduced $97.0m1.9m shares
UBS Group AG Reduced $81.3m1.6m shares
BARCLAYS PLC New $60.1m1.1m shares
ExodusPoint Capital Management, LP New $56.9m1.1m shares
CAPITAL FUND MANAGEMENT S.A. Reduced $55.3m1.1m shares
Walleye Capital LLC Added $53.5m1.0m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $802.9m15.3m shares
MILLENNIUM MANAGEMENT LLC Added $492.6m9.4m shares
CITADEL ADVISORS LLC Reduced $288.7m5.5m shares
UBS Group AG Reduced $272.5m5.2m shares
BARCLAYS PLC New $206.8m3.9m shares
Parallax Volatility Advisers, L.P. Added $183.4m3.5m shares
Balyasny Asset Management L.P. Added $162.9m3.1m shares
BANK OF AMERICA CORP /DE/ Reduced $132.6m2.5m shares
BNP PARIBAS FINANCIAL MARKETS Reduced $120.3m22.9k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $108.5m2.1m 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 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 13,641,19213.6m $715.2m $715.2m 0.03% Added +8.2m +8,225,133
2 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.67% of their portfolio TORONTO, A6 3,610,0003.6m $189.3m $189.3m 0.67% Reduced -4.1m -4,090,000
3 Phoenix Financial Ltd. 3.47% of their portfolio Givatayim, L3 3,549,7003.5m $209.6m $209.6m 3.47% New
4 BNP PARIBAS FINANCIAL MARKETS 0.33% of their portfolio PARIS, I0 3,438,1603.4m $180.3m $180.3m 0.33% Added +1.8m +1,843,083
5 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 3,327,6103.3m $174.5m $174.5m 0.01% Added +1.9m +1,929,338
6 Main Management ETF Advisors, LLC 7.36% of their portfolio SAN FRANCISCO, CA 2,392,5002.4m $125.4m $125.4m 7.36% Added +958.8k +958,800
7 Castle Hook Partners LP 7.78% of their portfolio NEW YORK, NY 2,377,9772.4m $124.7m $124.7m 7.78% New
8 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,263,5252.3m $118.7m $118.7m 0.01% Reduced -2.0m -2,040,045
9 MOORE CAPITAL MANAGEMENT, LP 2.61% of their portfolio NEW YORK, NY 2,064,9742.1m $108.3m $108.3m 2.61% New
10 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 1,999,6112.0m $104.8m $104.8m 0.03% Added +1.1m +1,069,829
11 CITIGROUP INC 0.13% of their portfolio NEW YORK, NY 1,890,8191.9m $99.1m $99.1m 0.13% Reduced -3.9m -3,947,733
12 CITADEL ADVISORS LLC 0.10% of their portfolio MIAMI, FL 1,890,5701.9m $99.1m $99.1m 0.10% Added +1.6m +1,624,989
13 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,787,1041.8m $93.7m $93.7m 0.02% Reduced -6.8m -6,769,236
14 UBS Group AG 0.04% of their portfolio ZURICH, V8 1,760,3341.8m $92.3m $92.3m 0.04% Reduced -610.0k -609,959
15 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,670,7011.7m $87.6m $87.6m 0.02% Added +387.9k +387,941
16 Alaska Permanent Fund Corp 1.34% of their portfolio JUNEAU, AK 1,548,8401.5m $81.2m $81.2m 1.34% Unchanged
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.13% of their portfolio BALA CYNWYD, PA 1,508,2011.5m $79.1m $79.1m 0.13% Added +269.1k +269,089
18 NATIONAL BANK OF CANADA /FI/ 0.14% of their portfolio MONTREAL, A8 1,482,4701.5m $78.0m $78.0m 0.14% Reduced -40.2k -40,177
19 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 1,385,7881.4m $72.7m $72.7m 0.04% Added +45.8k +45,838
20 JANE STREET GROUP, LLC 0.08% of their portfolio NEW YORK, NY 1,223,6991.2m $64.2m $64.2m 0.08% Added +154.0k +153,951
21 Caption Management, LLC 6.30% of their portfolio OKLAHOMA CITY, OK 1,105,0001.1m $57.9m $57.9m 6.30% Reduced -15.0k -15,000
22 TORONTO DOMINION BANK 0.08% of their portfolio TORONTO, ONTARIO, A6 1,103,5001.1m $57.9m $57.9m 0.08% Reduced -1.9m -1,914,700
23 BARCLAYS PLC 0.03% of their portfolio LONDON, X0 1,084,7561.1m $56.9m $56.9m 0.03% Reduced -1.5m -1,524,397
24 CREDIT SUISSE AG/ 0.06% of their portfolio ZURICH, V8 1,084,1141.1m $56.8m $56.8m 0.06% Reduced -188.0k -187,959
25 BESSEMER GROUP INC 0.09% of their portfolio WOODBRIDGE, NJ 850,606850.6k $44.6m $44.6m 0.09% Added +848.7k +848,656
26 Main Management Fund Advisors LLC 11.63% of their portfolio SAN FRANCISCO, CA 792,000792.0k $41.5m $41.5m 11.63% New
27 Balyasny Asset Management L.P. 0.10% of their portfolio Chicago, IL 709,465709.5k $37.2m $37.2m 0.10% Added +135.2k +135,234
28 Main Management LLC 3.57% of their portfolio SAN FRANCISCO, CA 692,867692.9k $36.3m $36.3m 3.57% Added +253.2k +253,214
29 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 660,909660.9k $34.6m $34.6m 0.06% Added +612.8k +612,817
30 Twin Tree Management, LP 0.54% of their portfolio DALLAS, TX 570,639570.6k $29.9m $29.9m 0.54% Added +124.4k +124,417
31 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 540,480540.5k $28.3m $28.3m 0.01% Added +174.8k +174,850
32 Nan Shan Life Insurance Co., Ltd. 0.67% of their portfolio Taipei City, F5 530,679530.7k $27.8m $27.8m 0.67% New
33 CASTLEARK MANAGEMENT LLC 1.07% of their portfolio CHICAGO, IL 460,510460.5k $24.1m $24.1m 1.07% New
34 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 430,694430.7k $22.6m $22.6m 0.02% Added +249.1k +249,112
35 Alyeska Investment Group, L.P. 0.15% of their portfolio CHICAGO, IL 429,227429.2k $22.5m $22.5m 0.15% New
36 Myriad Asset Management US LP 12.00% of their portfolio WEST PALM BEACH, FL 413,150413.1k $21.7m $21.7m 12.00% New
37 First Financial Bankshares Inc 0.49% of their portfolio Abilene, TX 390,451390.5k $20.5m $20.5m 0.49% First filing
38 STATE OF WISCONSIN INVESTMENT BOARD 0.06% of their portfolio MADISON, WI 384,465384.5k $20.2m $20.2m 0.06% Added +154.2k +154,228
39 Walleye Trading LLC 0.30% of their portfolio NEW YORK, NY 384,152384.2k $20.1m $20.1m 0.30% Added +68.5k +68,500
40 Sculptor Capital LP 0.51% of their portfolio New York, NY 383,000383.0k $20.1m $20.1m 0.51% New
41 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 378,476378.5k $20.2m $20.2m 0.01% Reduced -4.1k -4,100
42 Delta Investment Management, LLC 4.43% of their portfolio SAN FRANCISCO, CA 341,032341.0k $17.9m $17.9m 4.43% New
43 Parallax Volatility Advisers, L.P. 0.48% of their portfolio San Francisco, CA 333,442333.4k $17.5m $17.5m 0.48% Reduced -514.8k -514,755
44 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 331,584331.6k $17.4m $17.4m 0.01% Added +229.3k +229,276
45 Goodman Financial Corp 4.59% of their portfolio HOUSTON, TX 326,283326.3k $17.1m $17.1m 4.59% Added +16.8k +16,842
46 Rhino Investment Partners, Inc 3.16% of their portfolio WEST CONSHOHOCKEN, PA 323,201323.2k $16.9m $16.9m 3.16% Added +3.2k +3,201
47 HUNTINGTON NATIONAL BANK 0.15% of their portfolio COLUMBUS, OH 319,820319.8k $16.8m $16.8m 0.15% Reduced -10.9k -10,881
48 CAPSTONE INVESTMENT ADVISORS, LLC 0.28% of their portfolio NEW YORK, NY 312,628312.6k $16.4m $16.4m 0.28% Reduced -363.8k -363,793
49 FACTORY MUTUAL INSURANCE CO 0.20% of their portfolio WALTHAM, MA 308,800308.8k $16.2m $16.2m 0.20% New
50 GTS SECURITIES LLC 0.34% of their portfolio NEW YORK, NY 300,436300.4k $15.8m $15.8m 0.34% Added +139.0k +139,026
51 Cetera Advisors LLC 0.19% of their portfolio DENVER, CO 264,744264.7k $13.9m $13.9m 0.19% Reduced -3.3k -3,316
52 Symmetry Investments LP 2.50% of their portfolio ST HELIER, Y9 260,502260.5k $13.7m $13.7m 2.50% New
53 Schonfeld Strategic Advisors LLC 0.11% of their portfolio NEW YORK, NY 258,474258.5k $13.6m $13.6m 0.11% Reduced -123.8k -123,772
54 Bremer Bank National Association 2.44% of their portfolio ST PAUL, MN 249,931249.9k $13.1m $13.1m 2.44% Added +241.2k +241,173
55 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 248,010248.0k $13.0m $13.0m 0.01% Reduced -147.2k -147,192
56 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.23% of their portfolio New York, NY 245,606245.6k $12.9m $12.9m 0.23% Unchanged
57 Cambridge Investment Research Advisors, Inc. 0.05% of their portfolio FAIRFIELD, IA 245,551245.6k $12.9m $12.9m 0.05% Added +166.8k +166,752
58 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 230,822230.8k $12.3m $12.3m 0.00% Added +23.0k +22,986
59 Annandale Capital, LLC 2.75% of their portfolio DALLAS, TX 225,000225.0k $11.8m $11.8m 2.75% Added +149.8k +149,800
60 Venture Visionary Partners LLC 0.61% of their portfolio Sylvania, OH 220,700220.7k $11.6m $11.6m 0.61% Reduced -1.8k -1,765
61 HRT FINANCIAL LP 0.09% of their portfolio NEW YORK, NY 219,514219.5k $11.5m $11.5m 0.09% New
62 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 218,080218.1k $11.4m $11.4m 0.01% Reduced -39.0k -38,972
63 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 216,949216.9k $11.4m $11.4m 0.02% New
64 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 203,607203.6k $10.7m $10.7m 0.02% Added +15.8k +15,808
65 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 200,135200.1k $10.5m $10.5m 0.02% Added +80.9k +80,866
66 Hudson Bay Capital Management LP 0.09% of their portfolio STAMFORD, CT 200,000200.0k $10.5m $10.5m 0.09% Reduced -300.0k -300,000
67 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 187,897187.9k $9.9m $9.9m 0.01% Added +32.9k +32,917
68 GENDELL JEFFREY L 0.52% of their portfolio Greenwich, CT 181,727181.7k $9.5m $9.5m 0.52% Added +70.0k +70,000
69 Terril Brothers, Inc. 3.28% of their portfolio St. Louis, MO 176,605176.6k $9.3m $9.3m 3.28% Reduced -815 -815
70 Integrated Wealth Concepts LLC 0.15% of their portfolio WALTHAM, MA 173,339173.3k $9.1m $9.1m 0.15% Added +2.0k +1,991
71 Raymond James Financial Services Advisors, Inc. 0.01% of their portfolio ST. PETERSBURG, FL 168,356168.4k $8.8m $8.8m 0.01% Added +93.1k +93,111
72 One Capital Management, LLC 0.35% of their portfolio WESTLAKE VILLAGE, CA 167,905167.9k $8.8m $8.8m 0.35% Added +185 +185
73 Oak Harvest Investment Services 1.73% of their portfolio HOUSTON, TX 164,862164.9k $8.6m $8.6m 1.73% New
74 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.07% of their portfolio VICTORIA, A1 163,881163.9k $8.6m $8.6m 0.07% Added +34.9k +34,881
75 Ocean Park Asset Management, LLC 0.42% of their portfolio SANTA MONICA, CA 163,355163.4k $8.6m $8.6m 0.42% New
76 AE Wealth Management LLC 0.04% of their portfolio TOPEKA, KS 162,834162.8k $8.5m $8.5m 0.04% Added +155.0k +155,030
77 LMR Partners LLP 0.21% of their portfolio LONDON, X0 158,950158.9k $8.3m $8.3m 0.21% New
78 Parkside Investments, LLC 1.40% of their portfolio DEERFIELD, IL 157,460157.5k $8.3m $8.3m 1.40% New
79 NewSquare Capital LLC 0.77% of their portfolio NEWTOWN SQUARE, PA 154,673154.7k $8.1m $8.1m 0.77% New
80 Duquesne Family Office LLC 0.26% of their portfolio New York, NY 153,965154.0k $8.1m $8.1m 0.26% New
81 Wealth High Governance Capital Ltda 3.39% of their portfolio SAO PAULO, D5 150,000150.0k $7.9m $7.9m 3.39% New
82 SOROS FUND MANAGEMENT LLC 0.14% of their portfolio NEW YORK, NY 144,959145.0k $7.6m $7.6m 0.14% New
83 GRIMES & Co WEALTH MANAGEMENT, LLC 0.25% of their portfolio WESTBOROUGH, MA 143,230143.2k $7.5m $7.5m 0.25% Added +138.2k +138,225
84 MONTAG A & ASSOCIATES INC 0.41% of their portfolio ATLANTA, GA 141,124141.1k $7.4m $7.4m 0.41% Added +98.0k +98,038
85 SIGMA INVESTMENT COUNSELORS INC 0.51% of their portfolio NORTHVILLE, MI 137,979138.0k $7.2m $7.2m 0.51% Reduced -9.3k -9,284
86 SG Americas Securities, LLC 0.08% of their portfolio NEW YORK, NY 135,731135.7k $7.1m $7.1m 0.08% Added +31.3k +31,328
87 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 129,730129.7k $6.8m $6.8m 0.02% Added +11.7k +11,702
88 CX Institutional 0.35% of their portfolio AUBURN, IN 123,092123.1k $6.5m $6.5m 0.35% Reduced -127.4k -127,404
89 Graypoint LLC 0.51% of their portfolio Albany, NY 121,063121.1k $6.3m $6.3m 0.51% Reduced -166 -166
90 Clark Capital Management Group, Inc. 0.05% of their portfolio PHILADELPHIA, PA 118,872118.9k $6.2m $6.2m 0.05% New
91 Lighthouse Investment Partners, LLC 0.45% of their portfolio Palm Beach Gardens, FL 117,742117.7k $6.2m $6.2m 0.45% Added +6.0k +6,046
92 Michelson Medical Research Foundation, Inc. 3.97% of their portfolio Los Angeles, CA 114,700114.7k $6.0m $6.0m 3.97% Unchanged
93 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 113,142113.1k $5.9m $5.9m 0.00% Added +16.4k +16,402
94 ARVEST TRUST CO N A 0.36% of their portfolio ROGERS, AR 112,604112.6k $5.9m $5.9m 0.36% Reduced -683 -683
95 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 111,631111.6k $5.9m $5.9m 0.01% Added +2.5k +2,538
96 Unisphere Establishment 0.06% of their portfolio VADUZ, N2 110,000110.0k $5.8m $5.8m 0.06% First filing
97 Man Group plc 0.02% of their portfolio LONDON, X0 108,126108.1k $5.7m $5.7m 0.02% New
98 CIBC WORLD MARKETS CORP 0.03% of their portfolio NEW YORK, NY 108,000108.0k $5.7m $5.7m 0.03% New
99 INDEPENDENT FINANCIAL GROUP, LLC 0.30% of their portfolio SAN DIEGO, CA 106,888106.9k $5.6m $5.6m 0.30% Added +38.3k +38,276
100 CIBC WORLD MARKET INC. 0.02% of their portfolio TORONTO, A6 106,680106.7k $5.6m $5.6m 0.02% Added +17.0k +16,977