Vault-13

SPDR SER TR XRT

S&P RETAIL ETF · ETP · CUSIP 78464A714

122 institutional holders +1 vs Q2 2025
27,904,59027.9m shares reported held*
$2.4bnreported value*
19 new 33 added 39 reduced 18 sold out net sold ≈ $77.1m (-894.6k 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. Holder counts are more reliable. Implied quarter-end price ≈ $86.18. Options: 16 managers hold calls ($434.9m notional), 31 hold puts ($1.0bn).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 103Q4 22: 114Q1 23: 121Q2 23: 119Q3 23: 116Q4 23: 145Q1 24: 137Q2 24: 123Q3 24: 116Q4 24: 128Q1 25: 113Q2 25: 121Q3 25: 122122Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022103
Q4 2022114
Q1 2023121
Q2 2023119
Q3 2023116
Q4 2023145
Q1 2024137
Q2 2024123
Q3 2024116
Q4 2024128
Q1 2025113
Q2 2025121
Q3 2025122

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 23: 76 bought or addedQ4 23: 60 cut or sold outQ1 24: 69 bought or addedQ1 24: 84 cut or sold outQ1 24Q2 24: 58 bought or addedQ2 24: 79 cut or sold outQ3 24: 41 bought or addedQ3 24: 72 cut or sold outQ3 24Q4 24: 54 bought or addedQ4 24: 61 cut or sold outQ1 25: 50 bought or addedQ1 25: 70 cut or sold outQ1 25Q2 25: 53 bought or addedQ2 25: 59 cut or sold outQ3 25: 52 bought or addedQ3 25: 57 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20237660
Q1 20246984
Q2 20245879
Q3 20244172
Q4 20245461
Q1 20255070
Q2 20255359
Q3 20255257

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ4 24 calls: $483.0mQ4 24 puts: $631.2mQ4 24P/C 1.31Q1 25 calls: $666.0mQ1 25 puts: $1.1bnQ1 25P/C 1.66Q2 25 calls: $696.8mQ2 25 puts: $1.3bnQ2 25P/C 1.80Q3 25 calls: $434.9mQ3 25 puts: $1.0bnQ3 25P/C 2.39
Numbers
QuarterCallsPutsP/C
Q4 2024$483.0m$631.2m1.31
Q1 2025$666.0m$1.1bn1.66
Q2 2025$696.8m$1.3bn1.80
Q3 2025$434.9m$1.0bn2.39

Biggest buyers

JPMORGAN CHASE & CO Added +1,757,304+1.8m
BNP PARIBAS FINANCIAL MARKETS Added +758,120+758.1k
SG Americas Securities, LLC Added +399,652+399.7k
CITIGROUP INC Added +337,642+337.6k
BANK OF AMERICA CORP /DE/ Added +302,469+302.5k
BlueCrest Capital Management Ltd New +129,483+129.5k
READYSTATE ASSET MANAGEMENT LP Added +100,425+100.4k
Verition Fund Management LLC New +100,000+100.0k
Quadrature Capital Ltd New +81,995+82.0k
Walleye Trading LLC New +76,500+76.5k

Biggest sellers

MORGAN STANLEY Reduced -2,294,323-2.3m
MIZUHO SECURITIES USA LLC Sold out -850,000-850.0k
BANK OF NOVA SCOTIA Reduced -500,000-500.0k
Jefferies Financial Group Inc. Sold out -250,000-250.0k
BARCLAYS PLC Reduced -217,631-217.6k
Twin Tree Management, LP Reduced -215,680-215.7k
SUSQUEHANNA ADVISORS GROUP, INC. Reduced -200,000-200.0k
UBS Group AG Reduced -176,707-176.7k
ROYAL BANK OF CANADA Reduced -171,790-171.8k
MILLENNIUM MANAGEMENT LLC Sold out -94,054-94.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $161.0m1.9m shares
Balyasny Asset Management L.P. Unchanged $58.1m673.9k shares
CITADEL ADVISORS LLC Reduced $48.3m560.8k shares
JANE STREET GROUP, LLC Reduced $45.7m529.9k shares
MILLENNIUM MANAGEMENT LLC Reduced $26.7m310.0k shares
ROYAL BANK OF CANADA New $21.5m250.0k shares
Oribel Capital Management, LP New $19.6m226.9k shares
Verition Fund Management LLC Reduced $17.2m200.0k shares
UBS Group AG Added $8.8m101.7k shares
Walleye Trading LLC Reduced $8.3m96.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $342.2m4.0m shares
Balyasny Asset Management L.P. Added $110.9m1.3m shares
CITADEL ADVISORS LLC Added $104.9m1.2m shares
JANE STREET GROUP, LLC Reduced $69.4m805.3k shares
Twin Tree Management, LP Added $60.2m698.0k shares
BW Gestao de Investimentos Ltda. Added $51.7m600.0k shares
CloudAlpha Capital Management Limited/Hong Kong New $47.4m550.0k shares
Candlestick Capital Management LP New $46.2m536.3k shares
Allianz Asset Management GmbH Added $27.2m316.1k shares
CITIGROUP INC New $22.4m260.0k 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 1.53% of their portfolio TORONTO, A6 9,590,0009.6m $826.5m $826.5m 1.53% Unchanged
2 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,764,4441.8m $152.1m $152.1m 0.00% Added +1.8m +1,757,304
3 CANADA PENSION PLAN INVESTMENT BOARD 0.08% of their portfolio TORONTO ONTARIO, A6 1,400,0001.4m $120.7m $120.7m 0.08% Unchanged
4 MIRAE ASSET SECURITIES (USA) INC. 4.91% of their portfolio NEW YORK, NY 1,300,0001.3m $112.0m $112.0m 4.91% Unchanged
5 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,254,5931.3m $108.1m $108.1m 0.01% Added +302.5k +302,469
6 Clear Street Group Inc. 0.50% of their portfolio NEW YORK, NY 1,200,0001.2m $103.4m $103.4m 0.50% First filing
7 CITIGROUP INC 0.06% of their portfolio NEW YORK, NY 1,028,8771.0m $88.7m $88.7m 0.06% Added +337.6k +337,642
8 BNP PARIBAS FINANCIAL MARKETS 0.07% of their portfolio PARIS, I0 976,649976.6k $84.2m $84.2m 0.07% Added +758.1k +758,120
9 BARCLAYS PLC 0.03% of their portfolio LONDON, X0 910,565910.6k $78.5m $78.5m 0.03% Reduced -217.6k -217,631
10 UBS Group AG 0.01% of their portfolio ZURICH, V8 864,917864.9k $74.5m $74.5m 0.01% Reduced -176.7k -176,707
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 762,686762.7k $65.7m $65.7m 0.00% Reduced -2.3m -2,294,323
12 TORONTO DOMINION BANK 0.13% of their portfolio TORONTO, ONTARIO, A6 750,133750.1k $64.7m $64.7m 0.13% Added +116 +116
13 SUSQUEHANNA ADVISORS GROUP, INC. 1.99% of their portfolio BALA CYNWYD, PA 750,000750.0k $64.6m $64.6m 1.99% Reduced -200.0k -200,000
14 STATE OF WISCONSIN INVESTMENT BOARD 0.14% of their portfolio MADISON, WI 681,480681.5k $58.7m $58.7m 0.14% Reduced -90.1k -90,116
15 NATIXIS 0.23% of their portfolio PARIS, I0 500,422500.4k $43.1m $43.1m 0.23% Added +422 +422
16 BANK OF NOVA SCOTIA 0.08% of their portfolio TORONTO, A6 500,000500.0k $43.1m $43.1m 0.08% Reduced -500.0k -500,000
17 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 496,095496.1k $42.8m $42.8m 0.01% Added +41.3k +41,348
18 SG Americas Securities, LLC 0.13% of their portfolio NEW YORK, NY 410,606410.6k $35.4m $35.4m 0.13% Added +399.7k +399,652
19 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 348,585348.6k $30.0m $30.0m 0.04% Added +22.5k +22,500
20 Atom Investors LP 1.55% of their portfolio AUSTIN, TX 237,782237.8k $20.5m $20.5m 1.55% Added +13.3k +13,258
21 CASTLEARK MANAGEMENT LLC 0.45% of their portfolio CHICAGO, IL 188,220188.2k $16.2m $16.2m 0.45% Added +30.7k +30,740
22 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 177,639177.6k $15.3m $15.3m 0.00% Added +64.7k +64,716
23 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 162,628162.6k $14.0m $14.0m 0.00% Reduced -171.8k -171,790
24 READYSTATE ASSET MANAGEMENT LP 0.60% of their portfolio CHICAGO, IL 143,625143.6k $12.4m $12.4m 0.60% Added +100.4k +100,425
25 BlueCrest Capital Management Ltd 0.68% of their portfolio ST HELIER, Y9 129,483129.5k $11.2m $11.2m 0.68% New
26 Twin Tree Management, LP 0.51% of their portfolio DALLAS, TX 127,181127.2k $11.0m $11.0m 0.51% Reduced -215.7k -215,680
27 Verition Fund Management LLC 0.05% of their portfolio GREENWICH, CT 100,000100.0k $8.6m $8.6m 0.05% New
28 Quadrature Capital Ltd 0.08% of their portfolio LONDON, X0 81,99582.0k $7.1m $7.1m 0.08% New
29 Walleye Trading LLC 0.11% of their portfolio NEW YORK, NY 76,50076.5k $6.6m $6.6m 0.11% New
30 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 72,88572.9k $6.3m $6.3m 0.01% New
31 Broad Peak Investment Advisers Pte Ltd 1.67% of their portfolio SINGAPORE, U0 69,60069.6k $6.0m $6.0m 1.67% Reduced -9.2k -9,200
32 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 56,74356.7k $4.9m $4.9m 0.00% Reduced -12.2k -12,190
33 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 48,31848.3k $4.2m $4.2m 0.01% New
34 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 45,67245.7k $3.9m $3.9m 0.00% Reduced -18.3k -18,325
35 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 44,69144.7k $3.9m $3.9m 0.00% Reduced -56.2k -56,160
36 Q3 Asset Management 1.23% of their portfolio BIRMINGHAM, MI 41,76541.8k $3.6m $3.6m 1.23% New
37 HAP Trading, LLC 0.97% of their portfolio NEW YORK, NY 40,92540.9k $3.5m $3.5m 0.97% First filing
38 GTS SECURITIES LLC 0.13% of their portfolio NEW YORK, NY 40,18040.2k $3.5m $3.5m 0.13% Reduced -34.5k -34,540
39 IMC-Chicago, LLC 0.06% of their portfolio CHICAGO, IL 38,33938.3k $3.3m $3.3m 0.06% New
40 XTX Topco Ltd 0.17% of their portfolio LONDON, X0 37,55037.5k $3.2m $3.2m 0.17% Added +29.0k +28,999
41 Maven Securities LTD 0.55% of their portfolio ST HELIER, Y9 33,11233.1k $2.9m $2.9m 0.55% Added +23.6k +23,636
42 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 31,04631.0k $2.7m $2.7m 0.02% Added +17.2k +17,169
43 Parallax Volatility Advisers, L.P. 0.07% of their portfolio San Francisco, CA 28,38928.4k $2.4m $2.4m 0.07% Added +28.4k +28,388
44 Ellis Investment Partners, LLC 0.34% of their portfolio Berwyn, PA 21,65521.7k $1.9m $1.9m 0.34% Added +1 +1
45 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 19,21919.2k $1.7m $1.7m 0.00% Added +5.7k +5,706
46 Tower Research Capital LLC (TRC) 0.04% of their portfolio NEW YORK, NY 17,42117.4k $1.5m $1.5m 0.04% Reduced -27.6k -27,560
47 TWO SIGMA SECURITIES, LLC 0.22% of their portfolio NEW YORK, NY 16,96417.0k $1.5m $1.5m 0.22% Added +5.6k +5,597
48 Empowered Funds, LLC 0.01% of their portfolio NEWTOWN SQUARE, PA 16,65416.7k $1.4m $1.4m 0.01% New
49 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 16,50016.5k $1.4m $1.4m 0.00% Reduced -61.6k -61,567
50 FDx Advisors, Inc. 0.40% of their portfolio BERWYN, PA 16,37716.4k $1.3m $1.3m 0.40% New
51 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 15,18815.2k $1.3m $1.3m 0.01% Added +2.9k +2,912
52 Tidal Investments LLC 0.01% of their portfolio Milwaukee, WI 14,89814.9k $1.3m $1.3m 0.01% Added +9.1k +9,080
53 FLOW TRADERS U.S. LLC 0.05% of their portfolio NEW YORK, NY 14,23314.2k $1.2m $1.2m 0.05% Reduced -5.3k -5,301
54 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 12,82812.8k $1.1m $1.1m 0.00% Reduced -720 -720
55 Venture Visionary Partners LLC 0.04% of their portfolio Sylvania, OH 12,31912.3k $1.1m $1.1m 0.04% Reduced -478 -478
56 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 11,13311.1k $959.5k $959.5k 0.00% Added +101 +101
57 FSA WEALTH PARTNERS, INC. 0.33% of their portfolio Rockville, MD 9,7879.8k $843.4k $843.4k 0.33% New
58 ARMISTICE CAPITAL, LLC 0.03% of their portfolio NEW YORK, NY 9,2629.3k $798.2k $798.2k 0.03% Added +4.4k +4,392
59 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 7,3297.3k $631.6k $631.6k 0.00% Reduced -802 -802
60 AMICA MUTUAL INSURANCE CO 0.06% of their portfolio PROVIDENCE, RI 7,0067.0k $604.0k $604.0k 0.06% Reduced -2.2k -2,199
61 Vestcor Inc 0.02% of their portfolio FREDERICTON, A3 6,4506.5k $556.0k $556.0k 0.02% Reduced -21.9k -21,950
62 WASHINGTON GROWTH STRATEGIES LLC 0.39% of their portfolio WASHINGTON, DC 6,2776.3k $541.0k $541.0k 0.39% Unchanged
63 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 6,0836.1k $524.2k $524.2k 0.00% Added +474 +474
64 HOLDERNESS INVESTMENTS CO 0.11% of their portfolio GREENSBORO, NC 6,0006.0k $517.1k $517.1k 0.11% Unchanged
65 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 5,0115.0k $427.5k $427.5k 0.00% Reduced -546 -546
66 Institute for Wealth Management, LLC. 0.04% of their portfolio DENVER, CO 4,7174.7k $406.5k $406.5k 0.04% Reduced -385 -385
67 Greenland Capital Management LP 0.06% of their portfolio NEW YORK, NY 4,5734.6k $394.1k $394.1k 0.06% New
68 CX Institutional 0.01% of their portfolio AUBURN, IN 4,5594.6k $393.0k $393.0k 0.01% Added +4.1k +4,111
69 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 4,5404.5k $391.3k $391.3k 0.01% Unchanged
70 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 4,2304.2k $364.5k $364.5k 0.00% Added +1.4k +1,382
71 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 4,1644.2k $359.0k $359.0k 0.00% Reduced -2.1k -2,147
72 MENORA MIVTACHIM HOLDINGS LTD. 0.00% of their portfolio Ramat Gan, L3 4,0004.0k $344.7k $344.7k 0.00% Unchanged
73 Advisors Preferred, LLC 0.05% of their portfolio ROCKVILLE, MD 3,9303.9k $339.3k $339.3k 0.05% New
74 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 3,8523.9k $331.9k $331.9k 0.00% Reduced -487 -487
75 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 3,8073.8k $328.0k $328.0k 0.00% Added +271 +271
76 DRW Securities, LLC 0.02% of their portfolio CHICAGO, IL 3,7923.8k $324.3k $324.3k 0.02% Reduced -300 -300
77 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 3,6953.7k $318.5k $318.5k 0.00% Added +198 +198
78 Quantbot Technologies LP 0.01% of their portfolio NEW YORK, NY 3,4903.5k $300.8k $300.8k 0.01% Added +90 +90
79 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 3,4833.5k $300.1k $300.1k 0.00% Reduced -299 -299
80 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 3,2243.2k $277.8k $277.8k 0.00% New
81 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 3,1183.1k $268.7k $268.7k 0.00% Reduced -50 -50
82 AXXCESS WEALTH MANAGEMENT, LLC 0.01% of their portfolio CARLSBAD, CA 3,0593.1k $263.6k $263.6k 0.01% New
83 Stonebridge Financial Planning Group, LLC 0.10% of their portfolio ORLANDO, FL 3,0503.0k $262.8k $262.8k 0.10% Unchanged
84 Acorns Advisers, LLC 0.00% of their portfolio IRVINE, CA 2,9402.9k $253.0k $253.0k 0.00% New
85 McGuire Investment Group, LLC 0.03% of their portfolio WAKEFIELD, RI 2,8912.9k $249.1k $249.1k 0.03% Reduced -18 -18
86 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 2,4682.5k $212.7k $212.7k 0.00% Reduced -303 -303
87 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 1,7861.8k $154.6k $154.6k 0.00% Added +71 +71
88 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 1,4531.5k $125.2k $125.2k 0.00% Reduced -1.6k -1,566
89 FMR LLC 0.00% of their portfolio BOSTON, MA 1,1601.2k $100.0k $100.0k 0.00% Reduced -20 -20
90 LANARK FINANCIAL, INC. 0.01% of their portfolio BIRMINGHAM, AL 1,0801.1k $93.1k $93.1k 0.01% Unchanged
91 DiNuzzo Private Wealth, Inc. 0.01% of their portfolio BEAVER, PA 1,0001.0k $84.2k $84.2k 0.01% Unchanged
92 COMERICA BANK 0.00% of their portfolio DALLAS, TX 880880 $75.8k $75.8k 0.00% Unchanged
93 Manchester Capital Management LLC 0.01% of their portfolio MANCHESTER, VT 700700 $60.3k $60.3k 0.01% Unchanged
94 Amica Retiree Medical Trust 0.08% of their portfolio LINCOLN, RI 692692 $60.0k $60.0k 0.08% Reduced -214 -214
95 Aptus Capital Advisors, LLC 0.00% of their portfolio FAIRHOPE, AL 665665 $57.3k $57.3k 0.00% Unchanged
96 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 659659 $56.8k $56.8k 0.00% Added +519 +519
97 Glen Eagle Advisors, LLC 0.01% of their portfolio KINGSTON, NJ 630630 $54.3k $54.3k 0.01% Unchanged
98 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 418418 $36.0k $36.0k 0.00% Unchanged
99 Golden State Wealth Management, LLC 0.00% of their portfolio SANTA ANA, CA 401401 $34.6k $34.6k 0.00% Reduced -58 -58
100 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 313313 $27.0k $27.0k 0.00% Reduced -332 -332