Vault-13

SPDR SER TR KRE

S&P REGL BKG · ETP · CUSIP 78464A698

499 institutional holders -53 vs Q4 2024
89,292,14589.3m shares reported held*
$5.2bnreported value*
67 new 165 added 155 reduced 116 sold out net bought ≈ $827.6m (+14.5m 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 ($1.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $58.45. Options: 39 managers hold calls ($1.8bn notional), 46 hold puts ($3.7bn).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 443Q4 22: 446Q1 23: 488Q2 23: 480Q3 23: 452Q4 23: 527Q1 24: 470Q2 24: 438Q3 24: 459Q4 24: 552Q1 25: 499499Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022443
Q4 2022446
Q1 2023488
Q2 2023480
Q3 2023452
Q4 2023527
Q1 2024470
Q2 2024438
Q3 2024459
Q4 2024552
Q1 2025499

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 23: 266 bought or addedQ2 23: 252 cut or sold outQ3 23: 187 bought or addedQ3 23: 265 cut or sold outQ3 23Q4 23: 269 bought or addedQ4 23: 224 cut or sold outQ1 24: 196 bought or addedQ1 24: 302 cut or sold outQ1 24Q2 24: 178 bought or addedQ2 24: 239 cut or sold outQ3 24: 196 bought or addedQ3 24: 217 cut or sold outQ3 24Q4 24: 278 bought or addedQ4 24: 198 cut or sold outQ1 25: 232 bought or addedQ1 25: 271 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023266252
Q3 2023187265
Q4 2023269224
Q1 2024196302
Q2 2024178239
Q3 2024196217
Q4 2024278198
Q1 2025232271

Calls vs puts

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

CallsPuts
$0$2bn$4bn$6bnQ2 24 calls: $1.6bnQ2 24 puts: $3.5bnQ2 24P/C 2.13Q3 24 calls: $2.3bnQ3 24 puts: $4.3bnQ3 24P/C 1.89Q4 24 calls: $2.0bnQ4 24 puts: $4.7bnQ4 24P/C 2.35Q1 25 calls: $1.8bnQ1 25 puts: $3.7bnQ1 25P/C 2.01
Numbers
QuarterCallsPutsP/C
Q2 2024$1.6bn$3.5bn2.13
Q3 2024$2.3bn$4.3bn1.89
Q4 2024$2.0bn$4.7bn2.35
Q1 2025$1.8bn$3.7bn2.01

Biggest buyers

GOLDMAN SACHS GROUP INC Added +11,385,865+11.4m
BANK OF AMERICA CORP /DE/ Added +3,359,491+3.4m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +1,628,000+1.6m
TWO SIGMA INVESTMENTS, LP Added +1,433,406+1.4m
Squarepoint Ops LLC New +1,376,134+1.4m
TUDOR INVESTMENT CORP ET AL New +1,261,407+1.3m
MORGAN STANLEY Added +1,103,594+1.1m
JPMORGAN CHASE & CO Added +1,004,724+1.0m
BANK OF MONTREAL /CAN/ Added +774,999+775.0k
CITIGROUP INC Added +746,584+746.6k

Biggest sellers

Migdal Insurance & Financial Holdings Ltd. Reduced -1,820,000-1.8m
MOORE CAPITAL MANAGEMENT, LP Reduced -1,341,924-1.3m
Ensign Peak Advisors, Inc Reduced -762,460-762.5k
Harel Insurance Investments & Financial Services Ltd. Sold out -757,000-757.0k
ALLIANCEBERNSTEIN L.P. Sold out -710,200-710.2k
Sculptor Capital LP Sold out -600,500-600.5k
SAMLYN CAPITAL, LLC Sold out -583,469-583.5k
Duquesne Family Office LLC Sold out -554,138-554.1k
UBS Group AG Reduced -517,089-517.1k
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduced -483,388-483.4k

Biggest calls

CITADEL ADVISORS LLC Added $380.3m6.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $340.2m6.0m shares
CITIGROUP INC Added $192.1m3.4m shares
BANK OF AMERICA CORP /DE/ Added $183.4m3.2m shares
CAPITAL FUND MANAGEMENT S.A. Added $97.1m1.7m shares
NOMURA HOLDINGS INC Added $78.5m1.4m shares
Squarepoint Ops LLC Added $75.5m1.3m shares
GOLDMAN SACHS GROUP INC Unchanged $45.5m800.0k shares
Sculptor Capital LP Unchanged $42.6m750.0k shares
JANE STREET GROUP, LLC Reduced $40.9m720.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $638.4m11.2m shares
JANE STREET GROUP, LLC Added $534.4m9.4m shares
Balyasny Asset Management L.P. Added $343.8m6.0m shares
CITADEL ADVISORS LLC Reduced $236.3m4.2m shares
TUDOR INVESTMENT CORP ET AL Added $225.8m4.0m shares
UBS Group AG Added $214.4m3.8m shares
Parallax Volatility Advisers, L.P. Reduced $191.3m3.4m shares
BNP PARIBAS FINANCIAL MARKETS First filing $170.4m30.0k shares
CAPITAL FUND MANAGEMENT S.A. Added $162.2m2.9m shares
MILLENNIUM MANAGEMENT LLC Reduced $156.8m2.8m 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GOLDMAN SACHS GROUP INC 0.17% of their portfolio NEW YORK, NY 16,012,90016.0m $910.3m $910.3m 0.17% Added +11.4m +11,385,865
2 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 11,892,58511.9m $676.1m $676.1m 0.05% Added +1.1m +1,103,594
3 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 5,748,9715.7m $326.8m $326.8m 0.03% Added +3.4m +3,359,491
4 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 4,706,6744.7m $267.6m $267.6m 0.02% Added +1.0m +1,004,724
5 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.52% of their portfolio TORONTO, A6 4,150,0004.2m $235.9m $235.9m 0.52% Added +1.6m +1,628,000
6 CITIGROUP INC 0.18% of their portfolio NEW YORK, NY 4,110,5714.1m $233.7m $233.7m 0.18% Added +746.6k +746,584
7 BNP PARIBAS FINANCIAL MARKETS 0.12% of their portfolio PARIS, I0 2,778,3062.8m $157.9m $157.9m 0.12% First filing
8 TWO SIGMA INVESTMENTS, LP 0.34% of their portfolio NEW YORK, NY 2,777,1062.8m $157.9m $157.9m 0.34% Added +1.4m +1,433,406
9 BESSEMER GROUP INC 0.17% of their portfolio WOODBRIDGE, NJ 1,620,4191.6m $92.1m $92.1m 0.17% Reduced -232.2k -232,166
10 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,478,8821.5m $84.1m $84.1m 0.02% Reduced -334.7k -334,734
11 Squarepoint Ops LLC 0.19% of their portfolio NEW YORK, NY 1,376,1341.4m $78.2m $78.2m 0.19% New
12 UBS Group AG 0.02% of their portfolio ZURICH, V8 1,350,7861.4m $76.8m $76.8m 0.02% Reduced -517.1k -517,089
13 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,332,4931.3m $75.8m $75.8m 0.03% Reduced -136.7k -136,656
14 TUDOR INVESTMENT CORP ET AL 0.64% of their portfolio STAMFORD, CT 1,261,4071.3m $71.7m $71.7m 0.64% New
15 JANE STREET GROUP, LLC 0.13% of their portfolio NEW YORK, NY 1,227,3531.2m $69.8m $69.8m 0.13% Added +69.9k +69,905
16 Balyasny Asset Management L.P. 0.16% of their portfolio Chicago, IL 1,136,0221.1m $64.6m $64.6m 0.16% Added +704.6k +704,630
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.10% of their portfolio BALA CYNWYD, PA 1,047,8171.0m $59.6m $59.6m 0.10% Reduced -40.9k -40,929
18 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 990,661990.7k $56.3m $56.3m 0.03% Added +775.0k +774,999
19 Hudson Bay Capital Management LP 0.34% of their portfolio STAMFORD, CT 951,834951.8k $54.1m $54.1m 0.34% Reduced -27.9k -27,882
20 Main Management ETF Advisors, LLC 9.63% of their portfolio SAN FRANCISCO, CA 936,990937.0k $198.1m $198.1m 9.63% Reduced -29.6k -29,610
21 TORONTO DOMINION BANK 0.11% of their portfolio TORONTO, ONTARIO, A6 755,745755.7k $43.0m $43.0m 0.11% Added +2.8k +2,822
22 SG Americas Securities, LLC 0.14% of their portfolio NEW YORK, NY 719,931719.9k $40.9m $40.9m 0.14% Added +697.0k +697,048
23 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 713,651713.7k $40.6m $40.6m 0.01% Reduced -213.5k -213,492
24 Quadrature Capital Ltd 0.86% of their portfolio LONDON, X0 682,463682.5k $38.8m $38.8m 0.86% New
25 CAPSTONE INVESTMENT ADVISORS, LLC 0.28% of their portfolio NEW YORK, NY 538,192538.2k $30.6m $30.6m 0.28% Added +138.7k +138,653
26 NAN FUNG TRINITY (HK) LTD 4.80% of their portfolio CENTRAL, HONG KONG, K3 531,800531.8k $30.2m $30.2m 4.80% New
27 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 465,882465.9k $26.4m $26.4m 0.01% Reduced -253.3k -253,312
28 MOORE CAPITAL MANAGEMENT, LP 0.87% of their portfolio NEW YORK, NY 456,390456.4k $25.9m $25.9m 0.87% Reduced -1.3m -1,341,924
29 EP Wealth Advisors, LLC 0.20% of their portfolio TORRANCE, CA 429,602429.6k $24.4m $24.4m 0.20% Reduced -12.9k -12,903
30 Verition Fund Management LLC 0.14% of their portfolio GREENWICH, CT 421,305421.3k $24.0m $24.0m 0.14% Reduced -6.0k -6,000
31 HUNTINGTON NATIONAL BANK 0.17% of their portfolio COLUMBUS, OH 419,529419.5k $23.9m $23.9m 0.17% Added +34.5k +34,541
32 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 406,621406.6k $23.1m $23.1m 0.01% Added +224.6k +224,649
33 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.14% of their portfolio VICTORIA, A1 399,496399.5k $22.7m $22.7m 0.14% Reduced -483.4k -483,388
34 First Financial Bankshares Inc 0.48% of their portfolio Abilene, TX 388,945388.9k $22.1m $22.1m 0.48% Added +1.9k +1,944
35 Optiver Holding B.V. 0.84% of their portfolio AMSTERDAM, P7 381,143381.1k $21.7m $21.7m 0.84% Added +324.8k +324,817
36 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 378,181378.2k $21.5m $21.5m 0.01% Added +17.6k +17,633
37 Rokos Capital Management LLP 0.57% of their portfolio LONDON, X0 370,077370.1k $21.0m $21.0m 0.57% Reduced -23.4k -23,420
38 BlackRock, Inc. 0.00% of their portfolio New York, NY 348,054348.1k $19.8m $19.8m 0.00% Added +1.5k +1,451
39 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 327,410327.4k $18.6m $18.6m 0.02% Added +284.1k +284,077
40 CAPITAL FUND MANAGEMENT S.A. 0.22% of their portfolio PARIS, I0 306,912306.9k $17.4m $17.4m 0.22% New
41 Terril Brothers, Inc. 6.27% of their portfolio St. Louis, MO 296,965297.0k $16.9m $16.9m 6.27% Reduced -27.7k -27,695
42 Curi Capital, LLC 0.41% of their portfolio CHICAGO, IL 293,826293.8k $16.7m $16.7m 0.41% New
43 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 289,573289.6k $16.5m $16.5m 0.02% Added +93.6k +93,560
44 Ensign Peak Advisors, Inc 0.03% of their portfolio SALT LAKE CITY, UT 283,900283.9k $16.1m $16.1m 0.03% Reduced -762.5k -762,460
45 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 279,848279.8k $15.9m $15.9m 0.02% Reduced -275.9k -275,940
46 MIRAE ASSET SECURITIES (USA) INC. 0.61% of their portfolio NEW YORK, NY 251,402251.4k $14.3m $14.3m 0.61% New
47 DE BURLO GROUP INC 2.10% of their portfolio BOSTON, MA 250,200250.2k $14.2m $14.2m 2.10% Reduced -44.6k -44,600
48 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.22% of their portfolio New York, NY 237,864237.9k $13.5m $13.5m 0.22% Added +9.6k +9,590
49 PEAK6 LLC 0.52% of their portfolio AUSTIN, TX 235,482235.5k $13.4m $13.4m 0.52% New
50 GTS SECURITIES LLC 0.53% of their portfolio NEW YORK, NY 214,629214.6k $12.2m $12.2m 0.53% Added +192.4k +192,406
51 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 211,512211.5k $12.0m $12.0m 0.02% Added +23.6k +23,564
52 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 208,935208.9k $11.9m $11.9m 0.01% Reduced -22.8k -22,817
53 Walleye Capital LLC 0.13% of their portfolio NEW YORK, NY 207,823207.8k $11.8m $11.8m 0.13% Added +27.5k +27,487
54 One Capital Management, LLC 0.39% of their portfolio WESTLAKE VILLAGE, CA 201,752201.8k $11.5m $11.5m 0.39% Added +1.5k +1,467
55 Jump Financial, LLC 0.16% of their portfolio Chicago, IL 183,597183.6k $10.4m $10.4m 0.16% Added +122.0k +121,979
56 Chicago Wealth Management, Inc. 5.39% of their portfolio CHICAGO, IL 180,960181.0k $10.3m $10.3m 5.39% Added +2.3k +2,270
57 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 175,603175.6k $10.0m $10.0m 0.02% Added +32.7k +32,706
58 MONTAG A & ASSOCIATES INC 0.49% of their portfolio ATLANTA, GA 173,829173.8k $9.9m $9.9m 0.49% Reduced -7.9k -7,856
59 Alaska Permanent Fund Corp 0.13% of their portfolio JUNEAU, AK 173,248173.2k $9.4m $9.4m 0.13% Unchanged
60 Private Advisory Group LLC 1.11% of their portfolio REDMOND, WA 171,580171.6k $9.8m $9.8m 1.11% Added +69.8k +69,826
61 Rosenthal | Henry Capital Advisors, Inc. 9.73% of their portfolio MISHAWAKA, IN 169,719169.7k $9.6m $9.6m 9.73% Reduced -4.7k -4,664
62 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 167,655167.7k $9.5m $9.5m 0.00% Added +37.5k +37,491
63 Integrated Wealth Concepts LLC 0.11% of their portfolio WALTHAM, MA 167,514167.5k $9.5m $9.5m 0.11% Added +648 +648
64 Cullen/Frost Bankers, Inc. 0.13% of their portfolio San Antonio, TX 167,079167.1k $9.5m $9.5m 0.13% Added +22.5k +22,501
65 PATTEN & PATTEN INC/TN 0.63% of their portfolio CHATTANOOGA, TN 165,262165.3k $9.4m $9.4m 0.63% Added +19.2k +19,162
66 Lighthouse Investment Partners, LLC 0.43% of their portfolio Palm Beach Gardens, FL 164,315164.3k $9.3m $9.3m 0.43% Added +4.5k +4,513
67 NewSquare Capital LLC 0.74% of their portfolio NEWTOWN SQUARE, PA 159,385159.4k $9.1m $9.1m 0.74% Reduced -210 -210
68 Parallax Volatility Advisers, L.P. 0.28% of their portfolio San Francisco, CA 151,347151.3k $8.6m $8.6m 0.28% Reduced -68.7k -68,716
69 GENDELL JEFFREY L 0.29% of their portfolio Greenwich, CT 120,000120.0k $6.8m $6.8m 0.29% Reduced -138.4k -138,409
70 Annandale Capital, LLC 1.28% of their portfolio DALLAS, TX 120,000120.0k $6.8m $6.8m 1.28% Unchanged
71 Venture Visionary Partners LLC 0.28% of their portfolio Sylvania, OH 118,219118.2k $6.7m $6.7m 0.28% Added +10.0k +10,034
72 Carnegie Investment Counsel 0.14% of their portfolio PEPPER PIKE, OH 117,871117.9k $5.8m $5.8m 0.14% Added +8.9k +8,920
73 Parkside Investments, LLC 0.99% of their portfolio DEERFIELD, IL 117,767117.8k $6.7m $6.7m 0.99% Added +4.0k +4,027
74 Members Advisory Group LLC 2.42% of their portfolio WILLIAMSVILLE, NY 102,031102.0k $5.8m $5.8m 2.42% Added +965 +965
75 Graypoint LLC 0.36% of their portfolio Albany, NY 100,652100.7k $5.7m $5.7m 0.36% Reduced -8.8k -8,789
76 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 97,45697.5k $5.5m $5.5m 0.01% Added +35.8k +35,804
77 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 96,76596.8k $5.5m $5.5m 0.01% Reduced -9.1k -9,116
78 Arvest Bank Trust Division 0.34% of their portfolio DEWEY, OK 94,96195.0k $5.4m $5.4m 0.34% Reduced -752 -752
79 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 94,21194.2k $5.4m $5.4m 0.00% Added +9.3k +9,268
80 OPPENHEIMER & CO INC 0.08% of their portfolio NEW YORK, NY 90,43290.4k $5.1m $5.1m 0.08% Reduced -13.5k -13,476
81 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 86,86686.9k $4.9m $4.9m 0.02% Added +42.5k +42,522
82 BANQUE PICTET & CIE SA 0.05% of their portfolio GENEVA 73, V8 86,58286.6k $4.9m $4.9m 0.05% Reduced -2.2k -2,244
83 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 86,03886.0k $4.9m $4.9m 0.01% Reduced -3.0k -3,003
84 BRANT POINT INVESTMENT MANAGEMENT LLC 1.14% of their portfolio New York, NY 81,87081.9k $4.7m $4.7m 1.14% Added +7.0k +7,037
85 Prescott Group Capital Management, L.L.C. 0.66% of their portfolio Tulsa, OK 80,00080.0k $4.5m $4.5m 0.66% Unchanged
86 Ulysses Management LLC 1.15% of their portfolio New York, NY 80,00080.0k $4.5m $4.5m 1.15% Unchanged
87 SCHOLTZ & COMPANY, LLC 2.25% of their portfolio STAMFORD, CT 79,95480.0k $4.5m $4.5m 2.25% Added +265 +265
88 Jefferies Financial Group Inc. 0.08% of their portfolio NEW YORK, NY 79,37179.4k $4.5m $4.5m 0.08% Reduced -288.0k -287,999
89 First Interstate Bank 0.27% of their portfolio Billings, MT 79,03779.0k $4.5m $4.5m 0.27% Reduced -4.6k -4,621
90 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 78,83478.8k $4.5m $4.5m 0.01% Added +1.3k +1,253
91 Michelson Medical Research Foundation, Inc. 3.67% of their portfolio Los Angeles, CA 77,10077.1k $4.4m $4.4m 3.67% Unchanged
92 COUNTRY CLUB BANK 0.29% of their portfolio KANSAS CITY, MO 75,47275.5k $4.3m $4.3m 0.29% Reduced -721 -721
93 Riggs Asset Managment Co. Inc. 1.20% of their portfolio DALLAS, PA 73,98774.0k $4.2m $4.2m 1.20% Added +1.2k +1,205
94 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 73,80773.8k $4.2m $4.2m 0.01% Reduced -10.9k -10,941
95 SG Capital Management LLC 0.42% of their portfolio CHICAGO, IL 73,40873.4k $4.2m $4.2m 0.42% Added +869 +869
96 Sanctuary Advisors, LLC 0.03% of their portfolio INDIANAPOLIS, IN 70,96771.0k $4.0m $4.0m 0.03% Added +391 +391
97 Twin Tree Management, LP 0.09% of their portfolio DALLAS, TX 68,93868.9k $3.9m $3.9m 0.09% New
98 FLPUTNAM INVESTMENT MANAGEMENT CO 0.07% of their portfolio PORTLAND, ME 65,37665.4k $3.7m $3.7m 0.07% Reduced -4.7k -4,650
99 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 63,51363.5k $3.6m $3.6m 0.02% Added +42.4k +42,374
100 BLAIR WILLIAM & CO/IL 0.01% of their portfolio CHICAGO, IL 62,13062.1k $3.5m $3.5m 0.01% Added +604 +604