Vault-13

SPDR SER TR KRE

S&P REGL BKG · ETP · CUSIP 78464A698

507 institutional holders -5 vs Q4 2025
115,397,503115.4m shares reported held*
$7.5bnreported value*
87 new 171 added 156 reduced 87 sold out net bought ≈ $1.7bn (+26.7m 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 ($5.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $65.16. Options: 37 managers hold calls ($3.4bn notional), 45 hold puts ($5.4bn).

Trends to Q1 2026

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: 499Q2 25: 484Q3 25: 504Q4 25: 512Q1 26: 507507Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022443
Q4 2022446
Q1 2023488
Q2 2023480
Q3 2023452
Q4 2023527
Q1 2024470
Q2 2024438
Q3 2024459
Q4 2024552
Q1 2025499
Q2 2025484
Q3 2025504
Q4 2025512
Q1 2026507

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 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 25Q2 25: 206 bought or addedQ2 25: 242 cut or sold outQ3 25: 242 bought or addedQ3 25: 209 cut or sold outQ3 25Q4 25: 228 bought or addedQ4 25: 233 cut or sold outQ1 26: 258 bought or addedQ1 26: 243 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024178239
Q3 2024196217
Q4 2024278198
Q1 2025232271
Q2 2025206242
Q3 2025242209
Q4 2025228233
Q1 2026258243

Calls vs puts

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

CallsPuts
$0$2bn$4bn$6bnQ2 25 calls: $3.2bnQ2 25 puts: $4.0bnQ2 25P/C 1.25Q3 25 calls: $3.5bnQ3 25 puts: $5.0bnQ3 25P/C 1.44Q4 25 calls: $2.0bnQ4 25 puts: $4.1bnQ4 25P/C 2.06Q1 26 calls: $3.4bnQ1 26 puts: $5.4bnQ1 26P/C 1.57
Numbers
QuarterCallsPutsP/C
Q2 2025$3.2bn$4.0bn1.25
Q3 2025$3.5bn$5.0bn1.44
Q4 2025$2.0bn$4.1bn2.06
Q1 2026$3.4bn$5.4bn1.57

Biggest buyers

GOLDMAN SACHS GROUP INC Added +15,173,494+15.2m
CITIGROUP INC Added +5,987,607+6.0m
BANK OF MONTREAL /CAN/ Added +3,486,172+3.5m
TWO SIGMA INVESTMENTS, LP Added +2,487,153+2.5m
MORGAN STANLEY Added +2,341,608+2.3m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +2,269,901+2.3m
Crake Asset Management LLP New +1,750,000+1.8m
WELLS FARGO & COMPANY/MN Added +1,699,188+1.7m
Clal Insurance Enterprises Holdings Ltd New +1,280,000+1.3m
MENORA MIVTACHIM HOLDINGS LTD. Added +1,123,500+1.1m

Biggest sellers

CITADEL ADVISORS LLC Reduced -2,892,943-2.9m
MARSHALL WACE, LLP Reduced -1,464,646-1.5m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -1,450,000-1.4m
JPMORGAN CHASE & CO Reduced -1,220,162-1.2m
Optiver Holding B.V. Sold out -927,130-927.1k
Squarepoint Ops LLC Sold out -860,117-860.1k
Kapitalo Investimentos Ltda Sold out -802,873-802.9k
Qube Research & Technologies Ltd Sold out -761,753-761.8k
MKP Capital Management, L.L.C. Sold out -745,700-745.7k
JANE STREET GROUP, LLC Reduced -651,707-651.7k

Biggest calls

MILLENNIUM MANAGEMENT LLC Added $571.7m8.8m shares
BANK OF MONTREAL /CAN/ Added $483.5m7.4m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $416.1m6.4m shares
Rokos Capital Management LLP New $332.2m5.1m shares
CITADEL ADVISORS LLC Added $321.5m4.9m shares
UBS Group AG Added $205.7m3.2m shares
JANE STREET GROUP, LLC Added $203.0m3.1m shares
CITIGROUP INC Added $171.0m2.6m shares
NOMURA HOLDINGS INC Added $92.8m1.4m shares
Squarepoint Ops LLC Added $78.3m1.2m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $983.8m15.1m shares
JANE STREET GROUP, LLC Added $526.1m8.1m shares
CITIGROUP INC Added $439.1m6.7m shares
BANK OF MONTREAL /CAN/ Added $410.6m6.3m shares
TUDOR INVESTMENT CORP ET AL Added $395.5m6.1m shares
Balyasny Asset Management L.P. Reduced $365.8m5.6m shares
CITADEL ADVISORS LLC Added $362.7m5.6m shares
Jain Global LLC Added $328.4m5.0m shares
UBS Group AG Added $299.7m4.6m shares
BARCLAYS PLC Added $222.6m3.4m 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GOLDMAN SACHS GROUP INC 0.20% of their portfolio NEW YORK, NY 23,472,73623.5m $1.5bn $1.5bn 0.20% Added +15.2m +15,173,494
2 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 16,257,21216.3m $1.1bn $1.1bn 0.06% Added +2.3m +2,341,608
3 CITIGROUP INC 0.36% of their portfolio NEW YORK, NY 8,709,0968.7m $567.4m $567.4m 0.36% Added +6.0m +5,987,607
4 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.81% of their portfolio TORONTO, A6 7,514,0007.5m $489.5m $489.5m 0.81% Reduced -1.4m -1,450,000
5 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 5,196,5115.2m $338.6m $338.6m 0.07% Added +1.7m +1,699,188
6 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 4,769,2774.8m $310.7m $310.7m 0.02% Reduced -251.7k -251,704
7 BANK OF MONTREAL /CAN/ 0.10% of their portfolio TORONTO, A6 3,574,2303.6m $232.9m $232.9m 0.10% Added +3.5m +3,486,172
8 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.28% of their portfolio BALA CYNWYD, PA 3,332,1423.3m $217.1m $217.1m 0.28% Added +2.3m +2,269,901
9 TWO SIGMA INVESTMENTS, LP 0.14% of their portfolio NEW YORK, NY 2,514,8002.5m $163.8m $163.8m 0.14% Added +2.5m +2,487,153
10 BARCLAYS PLC 0.06% of their portfolio LONDON, X0 2,364,2202.4m $154.0m $154.0m 0.06% Added +924.4k +924,352
11 BESSEMER GROUP INC 0.23% of their portfolio WOODBRIDGE, NJ 2,266,1232.3m $147.6m $147.6m 0.23% Added +333.8k +333,799
12 BNP PARIBAS FINANCIAL MARKETS 0.09% of their portfolio PARIS, I0 2,207,0462.2m $143.8m $143.8m 0.09% Added +733.7k +733,735
13 MENORA MIVTACHIM HOLDINGS LTD. 0.67% of their portfolio Ramat Gan, L3 2,183,0002.2m $142.2m $142.2m 0.67% Added +1.1m +1,123,500
14 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,013,5392.0m $131.2m $131.2m 0.02% Added +225.5k +225,491
15 Crake Asset Management LLP 3.98% of their portfolio LONDON, X0 1,750,0001.8m $114.0m $114.0m 3.98% New
16 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,357,8931.4m $88.5m $88.5m 0.02% Added +749.0k +748,986
17 Fiduciary Trust Co 0.99% of their portfolio Boston, MA 1,287,6071.3m $83.9m $83.9m 0.99% Added +338.6k +338,551
18 Clal Insurance Enterprises Holdings Ltd 0.50% of their portfolio Tel-aviv, L3 1,280,0001.3m $83.4m $83.4m 0.50% New
19 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 880,937880.9k $57.4m $57.4m 0.01% Reduced -226.1k -226,135
20 FIL Ltd 0.04% of their portfolio HAMILTON, D0 834,265834.3k $54.4m $54.4m 0.04% Added +218.2k +218,210
21 TORONTO DOMINION BANK 0.10% of their portfolio TORONTO, ONTARIO, A6 789,677789.7k $51.4m $51.4m 0.10% Reduced -1.1k -1,057
22 Rokos Capital Management LLP 0.82% of their portfolio LONDON, X0 708,884708.9k $46.2m $46.2m 0.82% New
23 Verition Fund Management LLC 0.39% of their portfolio GREENWICH, CT 621,733621.7k $40.5m $40.5m 0.39% Added +126.7k +126,700
24 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 620,808620.8k $40.4m $40.4m 0.01% Added +62.3k +62,314
25 TD Asset Management Inc 0.03% of their portfolio Toronto, A6 554,682554.7k $36.1m $36.1m 0.03% New
26 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 547,867547.9k $35.7m $35.7m 0.01% Added +133.3k +133,302
27 TRUST POINT INC. 3.04% of their portfolio LA CROSSE, WI 536,853536.9k $35.0m $35.0m 3.04% New
28 Ensign Peak Advisors, Inc 0.06% of their portfolio SALT LAKE CITY, UT 505,602505.6k $32.9m $32.9m 0.06% Added +140.1k +140,056
29 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 495,579495.6k $32.3m $32.3m 0.03% Reduced -651.7k -651,707
30 First Financial Bankshares Inc 0.62% of their portfolio Abilene, TX 469,340469.3k $30.6m $30.6m 0.62% Reduced -23.2k -23,190
31 HUNTINGTON NATIONAL BANK 0.17% of their portfolio COLUMBUS, OH 465,720465.7k $30.3m $30.3m 0.17% Added +6.3k +6,251
32 Jain Global LLC 0.33% of their portfolio NEW YORK, NY 401,570401.6k $26.2m $26.2m 0.33% New
33 Jefferies Financial Group Inc. 0.32% of their portfolio NEW YORK, NY 400,048400.0k $26.1m $26.1m 0.32% Added +143.5k +143,523
34 CAPSTONE INVESTMENT ADVISORS, LLC 0.20% of their portfolio NEW YORK, NY 381,043381.0k $24.8m $24.8m 0.20% Added +126.6k +126,642
35 BlackRock, Inc. 0.00% of their portfolio New York, NY 366,567366.6k $23.9m $23.9m 0.00% Reduced -328.5k -328,517
36 Horizon Investments, LLC 0.26% of their portfolio Charlotte, NC 359,670359.7k $23.4m $23.4m 0.26% Added +7.0k +7,045
37 PEAK6 LLC 0.64% of their portfolio AUSTIN, TX 340,516340.5k $22.2m $22.2m 0.64% Added +55.5k +55,522
38 Curi Capital, LLC 0.37% of their portfolio CHICAGO, IL 315,368315.4k $20.5m $20.5m 0.37% Added +4.2k +4,233
39 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 272,998273.0k $17.8m $17.8m 0.02% Added +28.4k +28,390
40 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 257,717257.7k $16.8m $16.8m 0.00% Reduced -25.9k -25,912
41 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 257,095257.1k $16.8m $16.8m 0.02% Added +192.2k +192,160
42 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 247,837247.8k $16.1m $16.1m 0.02% Added +32.9k +32,937
43 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 239,545239.5k $15.6m $15.6m 0.01% Added +19.1k +19,079
44 Hudson Bay Capital Management LP 0.09% of their portfolio STAMFORD, CT 227,647227.6k $14.8m $14.8m 0.09% Reduced -48.5k -48,492
45 CAPITAL FUND MANAGEMENT S.A. 0.13% of their portfolio PARIS, I0 226,740226.7k $14.8m $14.8m 0.13% Reduced -324.2k -324,165
46 CIBC WORLD MARKET INC. 0.02% of their portfolio TORONTO, A6 217,189217.2k $14.1m $14.1m 0.02% Reduced -10.1k -10,107
47 IMC-Chicago, LLC 0.21% of their portfolio CHICAGO, IL 215,172215.2k $14.0m $14.0m 0.21% Added +128.2k +128,166
48 PATTEN & PATTEN INC/TN 0.78% of their portfolio CHATTANOOGA, TN 198,009198.0k $12.9m $12.9m 0.78% Added +5.0k +4,971
49 Carrera Capital Advisors 1.95% of their portfolio TROY, MI 194,623194.6k $12.7m $12.7m 1.95% New
50 Cullen/Frost Bankers, Inc. 0.14% of their portfolio San Antonio, TX 190,433190.4k $12.4m $12.4m 0.14% Added +24.6k +24,559
51 Agave Capital Management Ltd 1.96% of their portfolio LONDON, X0 190,067190.1k $12.2m $12.2m 1.96% Reduced -249.2k -249,197
52 ALTFEST L J & CO INC 1.28% of their portfolio NEW YORK, NY 184,232184.2k $12.0m $12.0m 1.28% Added +18.5k +18,478
53 First Eagle Investment Management, LLC 0.02% of their portfolio NEW YORK, NY 176,119176.1k $11.5m $11.5m 0.02% Added +17.0k +17,000
54 COMMUNITY TRUST & INVESTMENT CO 0.62% of their portfolio LEXINGTON, KY 175,152175.2k $11.4m $11.4m 0.62% Added +4.6k +4,585
55 Integrated Wealth Concepts LLC 0.09% of their portfolio WALTHAM, MA 173,258173.3k $11.3m $11.3m 0.09% Added +159.8k +159,770
56 Interval Partners, LP 0.39% of their portfolio NEW YORK, NY 172,249172.2k $11.2m $11.2m 0.39% New
57 SG Capital Management LLC 0.91% of their portfolio CHICAGO, IL 170,595170.6k $11.1m $11.1m 0.91% Added +104.8k +104,805
58 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 162,173162.2k $10.6m $10.6m 0.01% Reduced -10.8k -10,811
59 SIH Partners, LLLP 0.32% of their portfolio Wilmington, DE 160,009160.0k $10.4m $10.4m 0.32% New
60 Parallax Volatility Advisers, L.P. 0.48% of their portfolio San Francisco, CA 156,796156.8k $10.9m $10.9m 0.48% Added +156.8k +156,795
61 CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio RALEIGH, NC 152,620152.6k $9.9m $9.9m 0.02% Added +127.4k +127,438
62 Banco BTG Pactual S.A. 1.91% of their portfolio RIO DE JANEIRO, D5 150,000150.0k $9.8m $9.8m 1.91% New
63 Nan Shan Life Insurance Co., Ltd. 0.35% of their portfolio Taipei City, F5 148,039148.0k $9.6m $9.6m 0.35% Reduced -83.6k -83,647
64 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 141,900141.9k $9.2m $9.2m 0.01% Added +24.6k +24,600
65 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 139,973140.0k $9.1m $9.1m 0.02% Reduced -12.6k -12,643
66 VALLEY WEALTH MANAGERS, INC. 0.58% of their portfolio PARAMUS, NJ 138,438138.4k $9.0m $9.0m 0.58% Reduced -57.5k -57,508
67 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 133,900133.9k $8.7m $8.7m 0.01% Added +5.0k +5,029
68 Rosenthal | Henry Capital Advisors, Inc. 8.39% of their portfolio MISHAWAKA, IN 131,610131.6k $8.6m $8.6m 8.39% Unchanged
69 Brick & Kyle, Associates 2.83% of their portfolio NEWTOWN, PA 131,601131.6k $8.6m $8.6m 2.83% Reduced -15.3k -15,280
70 Strategic Wealth Partners, Ltd. 0.57% of their portfolio INDEPENDENCE, OH 125,509125.5k $8.2m $8.2m 0.57% Added +121.1k +121,084
71 Centiva Capital, LP 0.38% of their portfolio New York, NY 125,076125.1k $8.1m $8.1m 0.38% Added +37.7k +37,747
72 Parkside Investments, LLC 0.97% of their portfolio DEERFIELD, IL 122,611122.6k $8.0m $8.0m 0.97% Added +1.4k +1,440
73 NewSquare Capital LLC 0.68% of their portfolio NEWTOWN SQUARE, PA 119,098119.1k $7.8m $7.8m 0.68% Reduced -73 -73
74 Venture Visionary Partners LLC 0.25% of their portfolio Sylvania, OH 117,350117.3k $7.6m $7.6m 0.25% Added +813 +813
75 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.05% of their portfolio Madrid, U3 111,892111.9k $7.2m $7.2m 0.05% Added +28.4k +28,383
76 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 110,159110.2k $7.2m $7.2m 0.00% Added +38.9k +38,894
77 Prescott Group Capital Management, L.L.C. 0.67% of their portfolio Tulsa, OK 103,492103.5k $6.7m $6.7m 0.67% Unchanged
78 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 103,275103.3k $6.7m $6.7m 0.01% Reduced -1.5m -1,464,646
79 Highlander Partners, L.P. 2.55% of their portfolio DALLAS, TX 100,000100.0k $6.5m $6.5m 2.55% Reduced -100.0k -100,000
80 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 98,97899.0k $6.4m $6.4m 0.02% Added +23.4k +23,368
81 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 95,30095.3k $6.2m $6.2m 0.01% Added +17.7k +17,723
82 Carnegie Investment Counsel 0.12% of their portfolio PEPPER PIKE, OH 94,47694.5k $6.2m $6.2m 0.12% Added +1.2k +1,243
83 Rhino Investment Partners, Inc 1.65% of their portfolio WEST CONSHOHOCKEN, PA 91,04891.0k $5.9m $5.9m 1.65% Reduced -259.1k -259,149
84 Walleye Capital LLC 0.04% of their portfolio NEW YORK, NY 89,22789.2k $5.8m $5.8m 0.04% Reduced -91.5k -91,495
85 TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio STAMFORD, CT 88,88588.9k $5.8m $5.8m 0.03% New
86 Waverly Advisors, LLC 0.04% of their portfolio BIRMINGHAM, AL 85,72585.7k $5.6m $5.6m 0.04% Added +77.0k +77,006
87 Berkshire Money Management, Inc. 0.56% of their portfolio DALTON, MA 84,14184.1k $5.5m $5.5m 0.56% New
88 CREDIT INDUSTRIEL ET COMMERCIAL 0.85% of their portfolio PARIS FRANCE, I0 82,24882.2k $5.4m $5.4m 0.85% Added +31.9k +31,852
89 Eldridge Investment Advisors, Inc. 1.15% of their portfolio MANCHESTER, NH 80,65580.7k $5.3m $5.3m 1.15% Added +29.6k +29,550
90 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 77,73577.7k $5.1m $5.1m 0.01% Added +2.8k +2,811
91 Annandale Capital, LLC 0.80% of their portfolio DALLAS, TX 75,00075.0k $4.9m $4.9m 0.80% Reduced -25.0k -25,000
92 IAM Advisory, LLC 1.07% of their portfolio EASTON, PA 73,03573.0k $4.8m $4.8m 1.07% New
93 First Interstate Bank 0.26% of their portfolio Billings, MT 72,16672.2k $4.7m $4.7m 0.26% Reduced -743 -743
94 FARMERS TRUST CO 0.74% of their portfolio YOUNGSTOWN, OH 72,02572.0k $4.7m $4.7m 0.74% Reduced -194 -194
95 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 67,47067.5k $4.4m $4.4m 0.00% Reduced -2.9m -2,892,943
96 FIRST AMERICAN BANK 0.27% of their portfolio DUNDEE, IL 65,85665.9k $4.3m $4.3m 0.27% Added +1.9k +1,927
97 Michelson Medical Research Foundation, Inc. 4.20% of their portfolio Los Angeles, CA 63,51063.5k $4.1m $4.1m 4.20% Unchanged
98 SAM Advisors, LLC 1.28% of their portfolio OAKHURST, CA 62,86362.9k $4.1m $4.1m 1.28% Added +460 +460
99 BRANT POINT INVESTMENT MANAGEMENT LLC 1.11% of their portfolio New York, NY 61,85861.9k $4.0m $4.0m 1.11% Reduced -8.0k -7,955
100 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 61,55361.6k $4.1m $4.1m 0.01% Reduced -42.7k -42,658