Vault-13

SPDR SER TR KBE

S&P BK ETF · ETP · CUSIP 78464A797

250 institutional holders -16 vs Q4 2025
16,128,21316.1m shares reported held*
$960.9mreported value*
24 new 80 added 72 reduced 35 sold out net bought ≈ $80.5m (+1.4m 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 ($200.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $59.58. Options: 8 managers hold calls ($51.1m notional), 13 hold puts ($1.1bn).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 244Q4 22: 230Q1 23: 213Q2 23: 212Q3 23: 203Q4 23: 234Q1 24: 219Q2 24: 215Q3 24: 220Q4 24: 259Q1 25: 245Q2 25: 249Q3 25: 249Q4 25: 266Q1 26: 250250Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022244
Q4 2022230
Q1 2023213
Q2 2023212
Q3 2023203
Q4 2023234
Q1 2024219
Q2 2024215
Q3 2024220
Q4 2024259
Q1 2025245
Q2 2025249
Q3 2025249
Q4 2025266
Q1 2026250

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 75 bought or addedQ2 24: 100 cut or sold outQ3 24: 95 bought or addedQ3 24: 95 cut or sold outQ3 24Q4 24: 118 bought or addedQ4 24: 85 cut or sold outQ1 25: 111 bought or addedQ1 25: 108 cut or sold outQ1 25Q2 25: 104 bought or addedQ2 25: 109 cut or sold outQ3 25: 98 bought or addedQ3 25: 100 cut or sold outQ3 25Q4 25: 102 bought or addedQ4 25: 103 cut or sold outQ1 26: 104 bought or addedQ1 26: 107 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202475100
Q3 20249595
Q4 202411885
Q1 2025111108
Q2 2025104109
Q3 202598100
Q4 2025102103
Q1 2026104107

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ2 25 calls: $235.8mQ2 25 puts: $170.8mQ2 25P/C 0.72Q3 25 calls: $134.7mQ3 25 puts: $205.8mQ3 25P/C 1.53Q4 25 calls: $167.6mQ4 25 puts: $532.7mQ4 25P/C 3.18Q1 26 calls: $51.1mQ1 26 puts: $1.1bnQ1 26P/C 20.93
Numbers
QuarterCallsPutsP/C
Q2 2025$235.8m$170.8m0.72
Q3 2025$134.7m$205.8m1.53
Q4 2025$167.6m$532.7m3.18
Q1 2026$51.1m$1.1bn20.93

Biggest buyers

TWO SIGMA INVESTMENTS, LP Added +959,740+959.7k
Balyasny Asset Management L.P. Added +384,689+384.7k
JANE STREET GROUP, LLC Added +325,045+325.0k
Janney Montgomery Scott LLC Added +318,467+318.5k
CITIGROUP INC Added +243,440+243.4k
MILLENNIUM MANAGEMENT LLC New +229,743+229.7k
ROYAL BANK OF CANADA Added +123,130+123.1k
Bank of New York Mellon Corp Added +111,649+111.6k
Wharton Business Group, LLC Added +107,540+107.5k
HRT FINANCIAL LP Added +91,252+91.3k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -275,851-275.9k
GOLDMAN SACHS GROUP INC Reduced -259,334-259.3k
CITADEL ADVISORS LLC Reduced -189,678-189.7k
Point72 Asset Management, L.P. Sold out -154,000-154.0k
Agave Capital Management Ltd Sold out -116,828-116.8k
Empowered Funds, LLC Sold out -104,833-104.8k
BARCLAYS PLC Reduced -84,546-84.5k
RAYMOND JAMES FINANCIAL INC Reduced -84,157-84.2k
SIMPLEX TRADING, LLC Reduced -82,948-82.9k
Quantitative Investment Management, LLC Sold out -78,445-78.4k

Biggest calls

Parallax Volatility Advisers, L.P. New $19.2m300.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $12.0m201.4k shares
UBS Group AG Reduced $9.2m154.2k shares
Walleye Trading LLC Added $6.0m100.7k shares
CITADEL ADVISORS LLC Reduced $2.2m36.4k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $1.9m31.2k shares
JANE STREET GROUP, LLC Reduced $345.4k5.8k shares
Verition Fund Management LLC New $262.0k4.4k shares

Biggest puts

BANK OF MONTREAL /CAN/ Added $476.5m8.0m shares
JANE STREET GROUP, LLC Added $186.7m3.1m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $183.2m3.1m shares
Balyasny Asset Management L.P. Added $128.2m2.2m shares
CITADEL ADVISORS LLC Reduced $25.8m433.8k shares
CREDIT INDUSTRIEL ET COMMERCIAL Added $17.9m300.0k shares
Parallax Volatility Advisers, L.P. Added $16.0m250.0k shares
ROYAL BANK OF CANADA New $14.9m250.0k shares
Walleye Trading LLC Added $9.8m165.0k shares
TUDOR INVESTMENT CORP ET AL New $7.4m125.0k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 3,177,5783.2m $189.2m $189.2m 0.02% Reduced -259.3k -259,334
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,379,5541.4m $82.2m $82.2m 0.00% Added +49.3k +49,299
3 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,078,9171.1m $64.2m $64.2m 0.00% Reduced -275.9k -275,851
4 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 974,440974.4k $58.0m $58.0m 0.05% Added +959.7k +959,740
5 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 758,079758.1k $45.1m $45.1m 0.05% Added +325.0k +325,045
6 UBS Group AG 0.01% of their portfolio ZURICH, V8 652,510652.5k $38.9m $38.9m 0.01% Reduced -32.0k -31,954
7 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 644,427644.4k $38.4m $38.4m 0.01% Added +26.7k +26,744
8 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 586,273586.3k $34.9m $34.9m 0.01% Added +123.1k +123,130
9 Wharton Business Group, LLC 1.21% of their portfolio MALVERN, PA 537,846537.8k $32.0m $32.0m 1.21% Added +107.5k +107,540
10 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 459,932459.9k $27.4m $27.4m 0.02% Added +243.4k +243,440
11 Balyasny Asset Management L.P. 0.05% of their portfolio Chicago, IL 415,464415.5k $24.7m $24.7m 0.05% Added +384.7k +384,689
12 Madison Asset Management, LLC 0.25% of their portfolio MADISON, WI 335,931335.9k $20.0m $20.0m 0.25% Reduced -70.1k -70,132
13 Janney Montgomery Scott LLC 0.05% of their portfolio PHILADELPHIA, PA 334,848334.8k $19.9m $19.9m 0.05% Added +318.5k +318,467
14 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 334,542334.5k $19.9m $19.9m 0.01% Reduced -33.3k -33,302
15 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 314,622314.6k $18.7m $18.7m 0.01% Reduced -6.5k -6,545
16 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 281,665281.7k $16.8m $16.8m 0.00% Added +111.6k +111,649
17 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 229,743229.7k $13.7m $13.7m 0.01% New
18 ProVise Management Group, LLC 0.95% of their portfolio CLEARWATER, FL 221,474221.5k $13.2m $13.2m 0.95% Added +5.5k +5,515
19 CASTLEKEEP INVESTMENT ADVISORS LLC 6.77% of their portfolio WESTPORT, CT 209,483209.5k $12.5m $12.5m 6.77% Added +4.2k +4,151
20 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 200,446200.4k $11.9m $11.9m 0.00% Reduced -84.5k -84,546
21 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 140,421140.4k $8.4m $8.4m 0.00% Reduced -84.2k -84,157
22 Sage Advisory Services, Ltd.Co. 3.99% of their portfolio AUSTIN, TX 122,355122.4k $7.3m $7.3m 3.99% Added +48.2k +48,190
23 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 118,334118.3k $7.0m $7.0m 0.00% Added +45.7k +45,678
24 MRA Advisory Group 2.61% of their portfolio PARSIPPANY, NJ 107,400107.4k $6.4m $6.4m 2.61% Reduced -6.8k -6,845
25 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 105,442105.4k $6.3m $6.3m 0.02% Added +91.3k +91,252
26 CAPITAL FUND MANAGEMENT S.A. 0.05% of their portfolio PARIS, I0 97,39397.4k $5.8m $5.8m 0.05% Added +79.4k +79,357
27 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 94,40994.4k $5.6m $5.6m 0.01% Reduced -802 -802
28 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 89,22389.2k $5.3m $5.3m 0.01% Added +50.9k +50,874
29 CREDIT INDUSTRIEL ET COMMERCIAL 0.83% of their portfolio PARIS FRANCE, I0 87,13487.1k $5.2m $5.2m 0.83% Added +87.1k +87,127
30 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 78,11278.1k $4.7m $4.7m 0.00% Added +851 +851
31 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 71,83271.8k $4.2m $4.2m 0.00% Reduced -11.6k -11,644
32 Trans-Canada Capital Inc. 0.30% of their portfolio MONTREAL, A8 70,00070.0k $4.2m $4.2m 0.30% Unchanged
33 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 67,13267.1k $4.0m $4.0m 0.00% Reduced -21.8k -21,754
34 FDx Advisors, Inc. 1.08% of their portfolio BERWYN, PA 56,76956.8k $3.4m $3.4m 1.08% New
35 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 55,03455.0k $3.3m $3.3m 0.00% Reduced -21.9k -21,929
36 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 53,30953.3k $3.2m $3.2m 0.00% Added +25.1k +25,095
37 Evolution Wealth Advisors, LLC 0.32% of their portfolio AVENTURA, FL 53,02253.0k $3.2m $3.2m 0.32% Unchanged
38 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 50,31250.3k $3.0m $3.0m 0.00% Added +3.6k +3,566
39 Tower Research Capital LLC (TRC) 0.07% of their portfolio NEW YORK, NY 47,24047.2k $2.8m $2.8m 0.07% Added +37.0k +36,960
40 Atlantic Union Bankshares Corp 0.05% of their portfolio GLEN ALLEN, VA 46,24246.2k $2.8m $2.8m 0.05% Reduced -244 -244
41 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 39,57939.6k $2.4m $2.4m 0.01% Added +6.7k +6,676
42 FLOW TRADERS U.S. LLC 0.07% of their portfolio NEW YORK, NY 37,31837.3k $2.2m $2.2m 0.07% New
43 IMC-Chicago, LLC 0.03% of their portfolio CHICAGO, IL 36,83436.8k $2.2m $2.2m 0.03% Added +11.2k +11,212
44 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 36,73736.7k $2.2m $2.2m 0.00% Reduced -6 -6
45 GTS SECURITIES LLC 0.08% of their portfolio NEW YORK, NY 36,68936.7k $2.2m $2.2m 0.08% Added +30.1k +30,099
46 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 35,10035.1k $2.1m $2.1m 0.00% New
47 LOM Asset Management Ltd 0.57% of their portfolio Hamilton, D0 33,25033.2k $2.0m $2.0m 0.57% Reduced -1.4k -1,446
48 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 29,16029.2k $1.7m $1.7m 0.00% Reduced -5.6k -5,577
49 Segment Wealth Management, LLC 0.08% of their portfolio HOUSTON, TX 21,75021.8k $1.3m $1.3m 0.08% Reduced -340 -340
50 DRW Securities, LLC 0.07% of their portfolio CHICAGO, IL 20,54820.5k $1.2m $1.2m 0.07% Unchanged
51 GM Advisory Group, LLC 0.05% of their portfolio MELVILLE, NY 20,52520.5k $1.2m $1.2m 0.05% Unchanged
52 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.01% of their portfolio NEW YORK, NY 20,47220.5k $1.2m $1.2m 0.01% Unchanged
53 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 18,71018.7k $1.1m $1.1m 0.01% Added +757 +757
54 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 17,98518.0k $1.1m $1.1m 0.00% Reduced -7.8k -7,780
55 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 17,85317.9k $1.1m $1.1m 0.01% Reduced -4.7k -4,679
56 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 17,49017.5k $1.0m $1.0m 0.00% Added +687 +687
57 SummitTX Capital, L.P. 0.03% of their portfolio FORT WORTH, TX 17,42317.4k $1.0m $1.0m 0.03% New
58 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 17,25217.3k $1.0m $1.0m 0.00% Reduced -16.6k -16,633
59 Forum Financial Management, LP 0.01% of their portfolio LOMBARD, IL 17,09417.1k $1.0m $1.0m 0.01% Added +42 +42
60 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 14,79014.8k $880.7k $880.7k 0.00% Added +3.8k +3,805
61 Curi Capital, LLC 0.02% of their portfolio CHICAGO, IL 14,58714.6k $868.7k $868.7k 0.02% Unchanged
62 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 13,89413.9k $827.0k $827.0k 0.00% Reduced -1.9k -1,924
63 ALTFEST L J & CO INC 0.09% of their portfolio NEW YORK, NY 13,83913.8k $824.1k $824.1k 0.09% Added +98 +98
64 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.01% of their portfolio Madrid, U3 13,79913.8k $810.6k $810.6k 0.01% Reduced -6.7k -6,748
65 NTV Asset Management LLC 0.09% of their portfolio Charleston, WV 13,71013.7k $816.4k $816.4k 0.09% Added +5.1k +5,060
66 GROUP ONE TRADING LLC 0.03% of their portfolio CHICAGO, IL 13,48913.5k $803.3k $803.3k 0.03% Reduced -11.5k -11,502
67 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 13,10313.1k $780.3k $780.3k 0.01% Added +932 +932
68 Stirlingshire Investments, Inc. 0.68% of their portfolio NEW YORK, NY 13,08013.1k $778.9k $778.9k 0.68% Reduced -395 -395
69 Mariner, LLC 0.00% of their portfolio Overland Park, KS 13,00313.0k $772.1k $772.1k 0.00% Reduced -438 -438
70 Voya Financial Advisors, Inc. 0.07% of their portfolio WINDSOR, CT 12,81212.8k $741.6k $741.6k 0.07% Added +4.6k +4,559
71 SIMPLEX TRADING, LLC 0.02% of their portfolio CHICAGO, IL 12,71612.7k $757.2k $757.2k 0.02% Reduced -82.9k -82,948
72 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,35812.4k $735.9k $735.9k 0.00% Reduced -13.3k -13,303
73 Vectors Research Management, LLC 0.20% of their portfolio New York, NY 11,49011.5k $684.3k $684.3k 0.20% Added +400 +400
74 Belpointe Asset Management LLC 0.02% of their portfolio RENO, NV 11,15811.2k $664.5k $664.5k 0.02% Reduced -250 -250
75 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 11,01111.0k $655.7k $655.7k 0.01% Added +2.9k +2,925
76 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 10,93910.9k $651.4k $651.4k 0.01% New
77 COURIER CAPITAL LLC 0.04% of their portfolio BUFFALO, NY 10,78410.8k $642.2k $642.2k 0.04% Added +6.5k +6,485
78 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 10,74910.7k $639.9k $639.9k 0.00% Reduced -4.8k -4,842
79 WEST MICHIGAN ADVISORS, LLC 0.14% of their portfolio HOLLAND, MI 10,61510.6k $632.1k $632.1k 0.14% New
80 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 10,47110.5k $623.5k $623.5k 0.01% Reduced -432 -432
81 GREAT VALLEY ADVISOR GROUP, INC. 0.01% of their portfolio WILMINGTON, DE 10,44610.4k $622.1k $622.1k 0.01% Added +5 +5
82 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 10,42710.4k $606.6k $606.6k 0.00% Reduced -7 -7
83 CALTON & ASSOCIATES, INC. 0.09% of their portfolio Tampa, FL 10,42110.4k $620.6k $620.6k 0.09% Reduced -212 -212
84 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 10,37510.4k $617.4k $617.4k 0.00% Reduced -19.6k -19,641
85 FMR LLC 0.00% of their portfolio BOSTON, MA 10,33110.3k $615.2k $615.2k 0.00% Added +1.2k +1,155
86 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 10,32110.3k $614.6k $614.6k 0.00% Unchanged
87 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 10,20710.2k $607.9k $607.9k 0.00% Added +243 +243
88 Almanack Investment Partners, LLC. 0.10% of their portfolio WAYNE, PA 10,11710.1k $602.5k $602.5k 0.10% Added +1.3k +1,279
89 HANOVER ADVISORS INC 0.24% of their portfolio SENECA, SC 10,00910.0k $596.0k $596.0k 0.24% Added +818 +818
90 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 9,95110.0k $592.5k $592.5k 0.00% Added +1.1k +1,098
91 STEPHENS INC /AR/ 0.01% of their portfolio LITTLE ROCK, AR 9,8609.9k $587.2k $587.2k 0.01% Unchanged
92 Graves Light Lenhart Wealth, Inc. 0.06% of their portfolio HARRISONBURG, VA 9,3679.4k $557.8k $557.8k 0.06% Reduced -1.3k -1,336
93 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 9,2389.2k $550.1k $550.1k 0.00% Added +2.4k +2,403
94 NORTH STAR ASSET MANAGEMENT INC 0.02% of their portfolio NEENAH, WI 9,1159.1k $542.8k $542.8k 0.02% Reduced -500 -500
95 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 9,0409.0k $538.3k $538.3k 0.00% Reduced -189.7k -189,678
96 Simmons Bank 0.04% of their portfolio Pine Bluff, AR 8,9879.0k $535.2k $535.2k 0.04% Reduced -40 -40
97 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 8,8958.9k $529.7k $529.7k 0.00% Reduced -3.5k -3,493
98 Integrated Advisors Network LLC 0.03% of their portfolio DALLAS, TX 8,5018.5k $506.2k $506.2k 0.03% Reduced -7 -7
99 Montecito Bank & Trust 0.08% of their portfolio SANTA BARBARA, CA 8,4908.5k $505.6k $505.6k 0.08% Unchanged
100 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 8,3808.4k $499.0k $499.0k 0.00% Unchanged