Vault-13

SPDR SER TR KBE

S&P BK ETF · ETP · CUSIP 78464A797

234 institutional holders +31 vs Q3 2023
24,475,10124.5m shares reported held*
$1.1bnreported value*
49 new 59 added 65 reduced 26 sold out net bought ≈ $425.6m (+9.2m 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 ($2.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $46.07. Options: 10 managers hold calls ($76.2m notional), 19 hold puts ($131.4m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 244Q4 22: 230Q1 23: 213Q2 23: 212Q3 23: 203Q4 23: 234234Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022244
Q4 2022230
Q1 2023213
Q2 2023212
Q3 2023203
Q4 2023234

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 22: 75 bought or addedQ4 22: 127 cut or sold outQ4 22Q1 23: 102 bought or addedQ1 23: 102 cut or sold outQ1 23Q2 23: 86 bought or addedQ2 23: 112 cut or sold outQ2 23Q3 23: 63 bought or addedQ3 23: 114 cut or sold outQ3 23Q4 23: 108 bought or addedQ4 23: 91 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 202275127
Q1 2023102102
Q2 202386112
Q3 202363114
Q4 202310891

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ1 23 calls: $134.6mQ1 23 puts: $274.0mQ1 23P/C 2.04Q2 23 calls: $97.8mQ2 23 puts: $159.2mQ2 23P/C 1.63Q3 23 calls: $62.6mQ3 23 puts: $91.4mQ3 23P/C 1.46Q4 23 calls: $76.2mQ4 23 puts: $131.4mQ4 23P/C 1.73
Numbers
QuarterCallsPutsP/C
Q1 2023$134.6m$274.0m2.04
Q2 2023$97.8m$159.2m1.63
Q3 2023$62.6m$91.4m1.46
Q4 2023$76.2m$131.4m1.73

Biggest buyers

JPMORGAN CHASE & CO Added +4,906,868+4.9m
MORGAN STANLEY Added +3,314,315+3.3m
Migdal Insurance & Financial Holdings Ltd. New +780,000+780.0k
Harel Insurance Investments & Financial Services Ltd. New +300,000+300.0k
MILLENNIUM MANAGEMENT LLC Added +275,046+275.0k
ENVESTNET ASSET MANAGEMENT INC Added +228,428+228.4k
ELEMENT POINTE ADVISORS, LLC New +210,465+210.5k
ALTFEST L J & CO INC New +201,252+201.3k
BANK OF AMERICA CORP /DE/ Added +170,059+170.1k
GARDA CAPITAL PARTNERS LP New +160,520+160.5k

Biggest sellers

CITIGROUP INC Reduced -432,422-432.4k
Itau Unibanco Holding S.A. Reduced -399,400-399.4k
TWO SIGMA INVESTMENTS, LP Sold out -317,700-317.7k
CITADEL ADVISORS LLC Reduced -210,613-210.6k
Clarity Financial LLC Sold out -145,074-145.1k
BNP PARIBAS FINANCIAL MARKETS Reduced -108,730-108.7k
DRW Securities, LLC Sold out -83,286-83.3k
BARCLAYS PLC Reduced -69,210-69.2k
Twin Tree Management, LP Reduced -63,761-63.8k
Squarepoint Ops LLC Sold out -61,415-61.4k

Biggest calls

MILLENNIUM MANAGEMENT LLC Added $24.4m530.0k shares
CITADEL ADVISORS LLC Added $17.7m384.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $13.4m290.5k shares
Walleye Trading LLC Reduced $6.4m139.8k shares
MARSHALL WACE, LLP New $6.2m134.6k shares
GTS SECURITIES LLC Reduced $3.7m80.9k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $2.5m54.0k shares
Parallax Volatility Advisers, L.P. Unchanged $957.2k20.8k shares
PEAK6 Investments LLC Added $851.4k18.5k shares
Cutler Group LLC / CA Reduced $53.0k11.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $42.5m922.8k shares
CITADEL ADVISORS LLC Reduced $19.8m430.7k shares
ROYAL BANK OF CANADA Unchanged $18.5m401.3k shares
GTS SECURITIES LLC Reduced $7.4m160.6k shares
Squarepoint Ops LLC New $6.9m150.0k shares
UBS Group AG Unchanged $6.1m132.4k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $4.8m104.3k shares
Walleye Trading LLC Added $4.8m103.8k shares
CREDIT AGRICOLE S A Unchanged $4.6m100.0k shares
PEAK6 Investments LLC Reduced $3.9m84.0k 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, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 5,559,3805.6m $255.8m $255.8m 0.01% Added +4.9m +4,906,868
2 GOLDMAN SACHS GROUP INC 0.05% of their portfolio NEW YORK, NY 5,036,7315.0m $231.8m $231.8m 0.05% Reduced -46.9k -46,851
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,487,0644.5m $206.5m $206.5m 0.01% Added +3.3m +3,314,315
4 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 864,662864.7k $39.8m $39.8m 0.00% Added +170.1k +170,059
5 Migdal Insurance & Financial Holdings Ltd. 0.72% of their portfolio Petach Tikva, L3 780,000780.0k $35.9m $35.9m 0.72% New
6 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 454,954455.0k $20.9m $20.9m 0.01% Added +110.1k +110,131
7 Wharton Business Group, LLC 1.00% of their portfolio MALVERN, PA 431,631431.6k $19.9m $19.9m 1.00% Reduced -7.8k -7,850
8 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 375,528375.5k $17.3m $17.3m 0.01% Reduced -6.3k -6,345
9 UBS Group AG 0.01% of their portfolio ZURICH, V8 354,984355.0k $16.3m $16.3m 0.01% Added +149.3k +149,282
10 Harel Insurance Investments & Financial Services Ltd. 0.24% of their portfolio Ramat Gan, L3 300,000300.0k $13.8m $13.8m 0.24% New
11 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 289,165289.2k $13.3m $13.3m 0.01% Added +228.4k +228,428
12 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 283,572283.6k $13.0m $13.0m 0.01% Added +275.0k +275,046
13 CAPTRUST FINANCIAL ADVISORS 0.04% of their portfolio RALEIGH, NC 277,635277.6k $12.8m $12.8m 0.04% Reduced -9.9k -9,918
14 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 222,568222.6k $10.2m $10.2m 0.01% Added +57.4k +57,395
15 ELEMENT POINTE ADVISORS, LLC 2.77% of their portfolio MIAMI, FL 210,465210.5k $9.7m $9.7m 2.77% New
16 SG Americas Securities, LLC 0.10% of their portfolio NEW YORK, NY 203,153203.2k $9.3m $9.3m 0.10% Added +40.9k +40,898
17 ALTFEST L J & CO INC 1.34% of their portfolio NEW YORK, NY 201,252201.3k $9.3m $9.3m 1.34% New
18 Evolution Wealth Advisors, LLC 1.72% of their portfolio AVENTURA, FL 186,258186.3k $8.6m $8.6m 1.72% Reduced -970 -970
19 Alaska Permanent Fund Corp 0.14% of their portfolio JUNEAU, AK 180,000180.0k $8.3m $8.3m 0.14% Unchanged
20 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 169,850169.8k $7.8m $7.8m 0.00% Reduced -44.5k -44,502
21 ProVise Management Group, LLC 0.66% of their portfolio CLEARWATER, FL 169,286169.3k $7.8m $7.8m 0.66% Added +713 +713
22 GARDA CAPITAL PARTNERS LP 3.76% of their portfolio WAYZATA, MN 160,520160.5k $7.4m $7.4m 3.76% New
23 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 143,591143.6k $6.6m $6.6m 0.01% Reduced -432.4k -432,422
24 Clark Capital Management Group, Inc. 0.05% of their portfolio PHILADELPHIA, PA 135,479135.5k $6.2m $6.2m 0.05% New
25 AXXCESS WEALTH MANAGEMENT, LLC 0.17% of their portfolio CARLSBAD, CA 124,898124.9k $5.7m $5.7m 0.17% New
26 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 121,469121.5k $5.6m $5.6m 0.01% New
27 CASTLEKEEP INVESTMENT ADVISORS LLC 3.71% of their portfolio WESTPORT, CT 113,412113.4k $5.2m $5.2m 3.71% First filing
28 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 92,31192.3k $4.2m $4.2m 0.01% Reduced -12.0k -12,049
29 Visionary Horizons, LLC 3.27% of their portfolio Knoxville, TN 87,55787.6k $4.0m $4.0m 3.27% First filing
30 Raymond James Financial Services Advisors, Inc. 0.01% of their portfolio ST. PETERSBURG, FL 76,72576.7k $3.5m $3.5m 0.01% Added +38.0k +37,959
31 PRUDENTIAL PLC 0.04% of their portfolio LONDON, X0 76,70076.7k $3.5m $3.5m 0.04% New
32 RWA WEALTH PARTNERS, LLC 0.05% of their portfolio BOSTON, MA 76,42576.4k $3.5m $3.5m 0.05% New
33 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 73,65873.7k $3.4m $3.4m 0.00% Reduced -55.4k -55,356
34 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 60,42560.4k $2.8m $2.8m 0.00% Reduced -57.9k -57,861
35 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 59,36059.4k $2.7m $2.7m 0.00% Reduced -3.5k -3,452
36 JCSD Capital, LLC 9.42% of their portfolio Walnut Creek, CA 59,00059.0k $3.1m $3.1m 9.42% Reduced -49.0k -49,000
37 Sandy Spring Bank 0.13% of their portfolio Olney, MD 54,93354.9k $2.5m $2.5m 0.13% Reduced -2.8k -2,788
38 Cetera Advisor Networks LLC 0.01% of their portfolio EL SEGUNDO, CA 54,56854.6k $2.5m $2.5m 0.01% Added +22.7k +22,697
39 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 53,66253.7k $2.5m $2.5m 0.00% Reduced -39.9k -39,852
40 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 50,49250.5k $2.3m $2.3m 0.02% Added +29.3k +29,289
41 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 47,20747.2k $2.2m $2.2m 0.01% Added +39.2k +39,216
42 North Star Investment Management Corp. 0.17% of their portfolio CHICAGO, IL 46,99247.0k $2.2m $2.2m 0.17% New
43 PRINCIPAL SECURITIES, INC. 0.08% of their portfolio DES MOINES, IA 44,41744.4k $2.0m $2.0m 0.08% First filing
44 Baker Avenue Asset Management, LP 0.09% of their portfolio SAN FRANCISCO, CA 44,37144.4k $2.0m $2.0m 0.09% Added +3.0k +2,964
45 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 38,10438.1k $1.8m $1.8m 0.01% New
46 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 36,53436.5k $1.7m $1.7m 0.00% Reduced -9.2k -9,166
47 AE Wealth Management LLC 0.01% of their portfolio TOPEKA, KS 34,79334.8k $1.6m $1.6m 0.01% Added +2.4k +2,384
48 Segment Wealth Management, LLC 0.13% of their portfolio HOUSTON, TX 32,69032.7k $1.5m $1.5m 0.13% New
49 CAPITAL FUND MANAGEMENT S.A. 0.02% of their portfolio PARIS, I0 32,45932.5k $1.5m $1.5m 0.02% Reduced -50.0k -50,000
50 Kingsview Wealth Management, LLC 0.04% of their portfolio GRANTS PASS, OR 32,38032.4k $1.5m $1.5m 0.04% New
51 Tower Research Capital LLC (TRC) 0.02% of their portfolio NEW YORK, NY 31,93031.9k $1.5m $1.5m 0.02% Added +23.8k +23,768
52 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 31,33631.3k $1.4m $1.4m 0.00% Added +8.6k +8,563
53 Main Management LLC 0.14% of their portfolio SAN FRANCISCO, CA 30,55130.6k $1.4m $1.4m 0.14% Unchanged
54 Aspen Grove Capital, LLC 0.53% of their portfolio AVON, CO 29,92129.9k $1.7m $1.7m 0.53% Reduced -7.7k -7,669
55 VCI Wealth Management LLC 0.82% of their portfolio ST LOUIS, MO 29,37229.4k $1.4m $1.4m 0.82% First filing
56 Winthrop Capital Management, LLC 0.41% of their portfolio Carmel, IN 27,59427.6k $1.3m $1.3m 0.41% First filing
57 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 27,01227.0k $1.2m $1.2m 0.00% New
58 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 26,33926.3k $1.2m $1.2m 0.00% Added +1.4k +1,378
59 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 25,75225.8k $1.2m $1.2m 0.00% Reduced -108.7k -108,730
60 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 25,51325.5k $1.2m $1.2m 0.00% Reduced -749 -749
61 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 24,22324.2k $1.1m $1.1m 0.00% Reduced -210.6k -210,613
62 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 23,35423.4k $1.1m $1.1m 0.00% Added +1.4k +1,381
63 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 22,72622.7k $1.1m $1.1m 0.00% Added +365 +365
64 MEITAV INVESTMENT HOUSE LTD 0.01% of their portfolio BENE-BERAQ, L3 21,71821.7k $999.5k $999.5k 0.01% Reduced -4.4k -4,425
65 GM Advisory Group, LLC 0.07% of their portfolio MELVILLE, NY 20,52520.5k $944.6k $944.6k 0.07% Unchanged
66 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.01% of their portfolio NEW YORK, NY 20,47220.5k $942.1k $942.1k 0.01% New
67 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 20,36120.4k $937.0k $937.0k 0.02% New
68 IPG Investment Advisors LLC 0.18% of their portfolio SAN DIEGO, CA 19,99020.0k $919.9k $919.9k 0.18% New
69 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 19,16819.2k $882.1k $882.1k 0.00% Reduced -23.3k -23,340
70 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 18,39818.4k $847.0k $847.0k 0.00% New
71 FSA WEALTH PARTNERS, INC. 0.24% of their portfolio Rockville, MD 18,25618.3k $840.1k $840.1k 0.24% New
72 Simmons Bank 0.06% of their portfolio Pine Bluff, AR 15,79515.8k $726.9k $726.9k 0.06% Unchanged
73 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 15,34615.3k $706.0k $706.0k 0.00% Reduced -22.9k -22,935
74 Sowell Financial Services LLC 0.04% of their portfolio NORTH LITTLE ROCK, AR 15,21515.2k $700.0k $700.0k 0.04% New
75 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 15,05915.1k $693.0k $693.0k 0.00% New
76 Mariner, LLC 0.00% of their portfolio Overland Park, KS 14,84214.8k $683.0k $683.0k 0.00% Added +1.7k +1,745
77 Aspen Investment Management Inc 0.38% of their portfolio GRAND RAPIDS, MI 14,71014.7k $677.0k $677.0k 0.38% New
78 Curi Capital, LLC 0.02% of their portfolio CHICAGO, IL 14,58714.6k $671.3k $671.3k 0.02% Unchanged
79 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 13,20013.2k $607.5k $607.5k 0.00% New
80 NORTH STAR ASSET MANAGEMENT INC 0.03% of their portfolio NEENAH, WI 13,04913.0k $600.5k $600.5k 0.03% Added +1.6k +1,602
81 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 13,02213.0k $599.3k $599.3k 0.01% New
82 Integrated Advisors Network LLC 0.03% of their portfolio DALLAS, TX 12,98213.0k $597.4k $597.4k 0.03% Added +41 +41
83 Pettinga Financial Advisors LLC 0.16% of their portfolio EVANSVILLE, IN 12,95012.9k $596.0k $596.0k 0.16% Reduced -325 -325
84 StrategIQ Financial Group, LLC 0.07% of their portfolio MERRILLVILLE, IN 12,83012.8k $590.5k $590.5k 0.07% Reduced -7.6k -7,603
85 Exchange Capital Management, Inc. 0.11% of their portfolio Ann Arbor, MI 12,74312.7k $586.4k $586.4k 0.11% Reduced -348 -348
86 Graves Light Lenhart Wealth, Inc. 0.07% of their portfolio HARRISONBURG, VA 12,65812.7k $582.5k $582.5k 0.07% Unchanged
87 CAPE COD FIVE CENTS SAVINGS BANK 0.06% of their portfolio HYANNIS, MA 12,57412.6k $578.7k $578.7k 0.06% Reduced -14.1k -14,052
88 WEXFORD CAPITAL LP 0.12% of their portfolio WEST PALM BEACH, FL 12,41012.4k $571.1k $571.1k 0.12% New
89 BigSur Wealth Management LLC 0.27% of their portfolio MIAMI, FL 12,32512.3k $567.2k $567.2k 0.27% Added +700 +700
90 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 12,13012.1k $558.2k $558.2k 0.00% Added +618 +618
91 COBBLESTONE CAPITAL ADVISORS LLC /NY/ 0.04% of their portfolio ROCHESTER, NY 12,10012.1k $556.8k $556.8k 0.04% Unchanged
92 AVANTAX ADVISORY SERVICES, INC. 0.01% of their portfolio DALLAS, TX 12,08212.1k $556.0k $556.0k 0.01% Reduced -1.0k -1,006
93 VIMA LLC 1.28% of their portfolio TROY, MI 12,03712.0k $553.9k $553.9k 1.28% First filing
94 Harvest Fund Management Co., Ltd 0.09% of their portfolio BEIJING, F4 11,89211.9k $547.0k $547.0k 0.09% Added +7.0k +7,001
95 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 11,75311.8k $540.9k $540.9k 0.00% Reduced -16.4k -16,389
96 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 11,30611.3k $520.3k $520.3k 0.00% First filing
97 Koshinski Asset Management, Inc. 0.08% of their portfolio DECATUR, IL 11,09611.1k $510.7k $510.7k 0.08% Added +5.4k +5,366
98 CALTON & ASSOCIATES, INC. 0.20% of their portfolio Tampa, FL 10,96711.0k $504.7k $504.7k 0.20% New
99 WP Advisors, LLC 0.19% of their portfolio San Francisco, CA 10,88310.9k $500.8k $500.8k 0.19% Added +81 +81
100 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 10,49310.5k $482.9k $482.9k 0.01% Added +2.3k +2,344