Vault-13

SPDR SER TR XBI

S&P BIOTECH · ETP · CUSIP 78464A870

715 institutional holders -1 vs Q1 2023
87,141,23787.1m shares reported held*
$7.3bnreported value*
61 new 185 added 274 reduced 68 sold out net sold ≈ $776.4m (-9.4m 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 ($6.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $83.21. Options: 34 managers hold calls ($1.1bn notional), 34 hold puts ($1.8bn).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 708Q4 22: 747Q1 23: 716Q2 23: 715715Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022708
Q4 2022747
Q1 2023716
Q2 2023715

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 22: 321 bought or addedQ4 22: 304 cut or sold outQ4 22Q1 23: 298 bought or addedQ1 23: 332 cut or sold outQ1 23Q2 23: 246 bought or addedQ2 23: 342 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022321304
Q1 2023298332
Q2 2023246342

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bn$2bnQ3 22 calls: $2.0bnQ3 22 puts: $1.9bnQ3 22P/C 0.97Q4 22 calls: $1.7bnQ4 22 puts: $1.3bnQ4 22P/C 0.78Q1 23 calls: $1.2bnQ1 23 puts: $1.7bnQ1 23P/C 1.47Q2 23 calls: $1.1bnQ2 23 puts: $1.8bnQ2 23P/C 1.56
Numbers
QuarterCallsPutsP/C
Q3 2022$2.0bn$1.9bn0.97
Q4 2022$1.7bn$1.3bn0.78
Q1 2023$1.2bn$1.7bn1.47
Q2 2023$1.1bn$1.8bn1.56

Biggest buyers

GOLDMAN SACHS GROUP INC Added +5,185,843+5.2m
BNP PARIBAS FINANCIAL MARKETS Added +1,641,600+1.6m
SG Americas Securities, LLC Added +566,508+566.5k
MEITAV INVESTMENT HOUSE LTD Added +390,471+390.5k
JANE STREET GROUP, LLC Added +348,522+348.5k
STATE OF WISCONSIN INVESTMENT BOARD New +312,200+312.2k
CITADEL ADVISORS LLC Added +303,365+303.4k
MILLENNIUM MANAGEMENT LLC Added +273,269+273.3k
Thrivent Financial for Lutherans Added +200,178+200.2k
CW Advisors, LLC Added +198,923+198.9k

Biggest sellers

BARCLAYS PLC Reduced -2,874,672-2.9m
JPMORGAN CHASE & CO Reduced -2,450,219-2.5m
TWO SIGMA ADVISERS, LP Reduced -1,711,500-1.7m
BANK OF AMERICA CORP /DE/ Reduced -1,705,615-1.7m
CITIGROUP INC Reduced -1,408,226-1.4m
Migdal Insurance & Financial Holdings Ltd. Sold out -1,155,590-1.2m
D. E. Shaw & Co., Inc. Sold out -1,103,000-1.1m
Main Management ETF Advisors, LLC Sold out -792,750-792.8k
TWO SIGMA INVESTMENTS, LP Sold out -733,839-733.8k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -710,868-710.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $363.6m4.4m shares
CITADEL ADVISORS LLC Reduced $192.3m2.3m shares
UBS Group AG Added $112.0m1.3m shares
Artal Group S.A. New $83.2m1.0m shares
GOLDMAN SACHS GROUP INC Reduced $59.9m720.0k shares
MARSHALL WACE, LLP Reduced $39.7m477.7k shares
HSBC HOLDINGS PLC New $34.6m413.5k shares
Caption Management, LLC Added $32.0m384.1k shares
LMR Partners LLP New $31.6m380.2k shares
Ghost Tree Capital, LLC Unchanged $25.0m300.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $276.2m3.3m shares
BANK OF AMERICA CORP /DE/ Added $265.8m3.2m shares
CITADEL ADVISORS LLC Added $196.9m2.4m shares
GOLDMAN SACHS GROUP INC Reduced $187.9m2.3m shares
MILLENNIUM MANAGEMENT LLC Added $184.6m2.2m shares
UBS Group AG Added $147.4m1.8m shares
BNP PARIBAS FINANCIAL MARKETS Added $73.7m8.9k shares
LMR Partners LLP New $63.2m760.2k shares
Elliott Investment Management L.P. New $55.4m666.2k shares
Walleye Capital LLC New $44.3m532.4k 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, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.11% of their portfolio CHARLOTTE, NC 10,707,54810.7m $890.9m $890.9m 0.11% Reduced -1.7m -1,705,615
2 GOLDMAN SACHS GROUP INC 0.22% of their portfolio NEW YORK, NY 10,308,75310.3m $857.7m $857.7m 0.22% Added +5.2m +5,185,843
3 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 7,618,6707.6m $633.9m $633.9m 0.06% Reduced -488.6k -488,606
4 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 5,084,2525.1m $423.0m $423.0m 0.05% Reduced -2.5m -2,450,219
5 CITIGROUP INC 0.52% of their portfolio NEW YORK, NY 4,858,1484.9m $404.2m $404.2m 0.52% Reduced -1.4m -1,408,226
6 BNP PARIBAS FINANCIAL MARKETS 0.45% of their portfolio PARIS, I0 2,715,1352.7m $225.9m $225.9m 0.45% Added +1.6m +1,641,600
7 Phoenix Financial Ltd. 3.74% of their portfolio Givatayim, L3 2,134,1382.1m $177.6m $177.6m 3.74% Unchanged
8 JANE STREET GROUP, LLC 0.21% of their portfolio NEW YORK, NY 1,878,3351.9m $156.3m $156.3m 0.21% Added +348.5k +348,522
9 BROWN ADVISORY INC 0.23% of their portfolio BALTIMORE, MD 1,749,4461.7m $145.6m $145.6m 0.23% Reduced -166.2k -166,191
10 Alaska Permanent Fund Corp 2.20% of their portfolio JUNEAU, AK 1,347,3981.3m $112.1m $112.1m 2.20% First filing
11 UBS Group AG 0.05% of their portfolio ZURICH, V8 1,286,5261.3m $107.0m $107.0m 0.05% Reduced -64.9k -64,869
12 BARCLAYS PLC 0.07% of their portfolio LONDON, X0 1,251,0851.3m $104.1m $104.1m 0.07% Reduced -2.9m -2,874,672
13 CANADA PENSION PLAN INVESTMENT BOARD 0.15% of their portfolio TORONTO ONTARIO, A6 1,200,0001.2m $99.8m $99.8m 0.15% Unchanged
14 Jefferies Financial Group Inc. 1.78% of their portfolio NEW YORK, NY 1,002,3741.0m $83.4m $83.4m 1.78% Reduced -25.0k -25,036
15 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.32% of their portfolio TORONTO, A6 871,000871.0k $72.5m $72.5m 0.32% Unchanged
16 MEITAV INVESTMENT HOUSE LTD 0.50% of their portfolio BENE-BERAQ, L3 755,756755.8k $62.4m $62.4m 0.50% Added +390.5k +390,471
17 Employees Provident Fund Board 1.42% of their portfolio SHAH ALAM, N8 721,768721.8k $60.1m $60.1m 1.42% Added +192.8k +192,777
18 BESSEMER GROUP INC 0.13% of their portfolio WOODBRIDGE, NJ 719,015719.0k $59.8m $59.8m 0.13% Added +32.6k +32,646
19 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 705,124705.1k $58.7m $58.7m 0.02% Added +178.0k +178,026
20 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 672,589672.6k $56.0m $56.0m 0.02% Reduced -59.9k -59,903
21 SG Americas Securities, LLC 0.47% of their portfolio NEW YORK, NY 666,706666.7k $55.5m $55.5m 0.47% Added +566.5k +566,508
22 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 654,080654.1k $54.4m $54.4m 0.04% Added +34.0k +34,025
23 Harel Insurance Investments & Financial Services Ltd. 1.30% of their portfolio Ramat Gan, L3 634,000634.0k $52.7m $52.7m 1.30% Reduced -174 -174
24 Bank Julius Baer & Co. Ltd, Zurich 0.30% of their portfolio ZURICH, V8 601,189601.2k $50.0m $50.0m 0.30% Added +6.5k +6,523
25 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.08% of their portfolio BALA CYNWYD, PA 594,275594.3k $49.4m $49.4m 0.08% Reduced -710.9k -710,868
26 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 585,136585.1k $48.7m $48.7m 0.01% Reduced -23.5k -23,549
27 DAFNA Capital Management LLC 12.85% of their portfolio LOS ANGELES, CA 565,000565.0k $47.0m $47.0m 12.85% Reduced -5.0k -5,000
28 BlackRock Inc. 0.00% of their portfolio New York, NY 563,042563.0k $46.8m $46.8m 0.00% Reduced -22.6k -22,631
29 Investure, LLC 8.94% of their portfolio CHARLOTTESVILLE, VA 561,600561.6k $46.7m $46.7m 8.94% Unchanged
30 Twin Tree Management, LP 0.91% of their portfolio DALLAS, TX 534,795534.8k $44.5m $44.5m 0.91% Reduced -450.9k -450,898
31 GenTrust, LLC 2.81% of their portfolio MIAMI, FL 497,805497.8k $41.4m $41.4m 2.81% Added +13.5k +13,515
32 HSBC HOLDINGS PLC 0.04% of their portfolio LONDON, X0 481,277481.3k $40.3m $40.3m 0.04% Reduced -573.2k -573,175
33 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 392,311392.3k $32.6m $32.6m 0.03% Added +273.3k +273,269
34 JANUS HENDERSON GROUP PLC 0.02% of their portfolio LONDON, X0 373,870373.9k $31.1m $31.1m 0.02% Reduced -58.5k -58,510
35 Schonfeld Strategic Advisors LLC 0.27% of their portfolio NEW YORK, NY 372,749372.7k $31.0m $31.0m 0.27% Added +66.9k +66,943
36 CAPITAL FUND MANAGEMENT S.A. 0.47% of their portfolio PARIS, I0 361,389361.4k $30.1m $30.1m 0.47% Added +89.7k +89,714
37 Clal Insurance Enterprises Holdings Ltd 0.36% of their portfolio Tel-aviv, L3 357,015357.0k $29.7m $29.7m 0.36% Reduced -310.0k -310,000
38 CITADEL ADVISORS LLC 0.03% of their portfolio MIAMI, FL 342,368342.4k $28.5m $28.5m 0.03% Added +303.4k +303,365
39 Raymond James Financial Services Advisors, Inc. 0.05% of their portfolio ST. PETERSBURG, FL 338,616338.6k $28.2m $28.2m 0.05% Added +81.8k +81,777
40 HRT FINANCIAL LP 0.26% of their portfolio NEW YORK, NY 332,073332.1k $27.6m $27.6m 0.26% Added +44.4k +44,435
41 Q Global Advisors, LLC 19.19% of their portfolio FORT WORTH, TX 320,000320.0k $26.6m $26.6m 19.19% Reduced -20.0k -20,000
42 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.25% of their portfolio VICTORIA, A1 315,000315.0k $26.2m $26.2m 0.25% Added +20.0k +20,000
43 STATE OF WISCONSIN INVESTMENT BOARD 0.07% of their portfolio MADISON, WI 312,200312.2k $26.0m $26.0m 0.07% New
44 MBB PUBLIC MARKETS I LLC 1.46% of their portfolio CHICAGO, IL 308,074308.1k $25.6m $25.6m 1.46% Reduced -198.1k -198,106
45 RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio ST PETERSBURG, FL 304,862304.9k $25.4m $25.4m 0.02% Reduced -18.7k -18,711
46 InterOcean Capital Group, LLC 0.71% of their portfolio NASHVILLE, TN 272,546272.5k $22.7m $22.7m 0.71% Reduced -10.1k -10,146
47 CW Advisors, LLC 0.52% of their portfolio BOSTON, MA 270,691270.7k $22.5m $22.5m 0.52% Added +198.9k +198,923
48 WHITTIER TRUST CO 0.38% of their portfolio SOUTH PASADENA, CA 265,680265.7k $22.1m $22.1m 0.38% Reduced -321 -321
49 STRS OHIO 0.09% of their portfolio COLUMBUS, OH 264,100264.1k $22.0m $22.0m 0.09% Reduced -447.2k -447,200
50 CREDIT SUISSE AG/ 0.02% of their portfolio ZURICH, V8 256,307256.3k $21.3m $21.3m 0.02% Added +30.6k +30,634
51 Sivik Global Healthcare LLC 8.31% of their portfolio GREENWICH, CT 250,000250.0k $20.8m $20.8m 8.31% Added +50.0k +50,000
52 Main Management Fund Advisors LLC 6.53% of their portfolio SAN FRANCISCO, CA 243,500243.5k $20.3m $20.3m 6.53% Added +45.2k +45,200
53 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 236,081236.1k $19.6m $19.6m 0.04% Added +200.2k +200,178
54 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 231,576231.6k $19.3m $19.3m 0.02% Added +177.6k +177,632
55 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 216,180216.2k $17.9m $17.9m 0.04% Reduced -9.3k -9,298
56 Main Management LLC 1.80% of their portfolio SAN FRANCISCO, CA 213,319213.3k $17.7m $17.7m 1.80% Reduced -261.5k -261,501
57 Howard Capital Management Group, LLC 1.62% of their portfolio Los Angeles, CA 209,428209.4k $17.4m $17.4m 1.62% Added +5.1k +5,134
58 Allspring Global Investments Holdings, LLC 0.03% of their portfolio CHARLOTTE, NC 206,255206.3k $17.2m $17.2m 0.03% Added +1.2k +1,167
59 Strategic Financial Services, Inc. 1.21% of their portfolio UTICA, NY 205,237205.2k $16.3m $16.3m 1.21% Added +3.8k +3,765
60 Jump Financial, LLC 0.63% of their portfolio Chicago, IL 204,244204.2k $17.0m $17.0m 0.63% Added +169.8k +169,798
61 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 200,385200.4k $16.7m $16.7m 0.02% Added +8.1k +8,075
62 Janney Capital Management LLC 1.13% of their portfolio PITTSBURGH, PA 196,875196.9k $16.4m $16.4m 1.13% Reduced -6.2k -6,164
63 L. Roy Papp & Associates, LLP 2.02% of their portfolio Phoenix, AZ 189,356189.4k $15.8m $15.8m 2.02% Reduced -900 -900
64 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 187,477187.5k $15.6m $15.6m 0.01% Reduced -132 -132
65 VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio ATLANTA, GA 180,947180.9k $15.1m $15.1m 0.02% Added +18.8k +18,771
66 McGuire Investment Group, LLC 2.79% of their portfolio WAKEFIELD, RI 180,168180.2k $15.0m $15.0m 2.79% Reduced -1.8k -1,840
67 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 179,094179.1k $15.7m $15.7m 0.01% Added +159.9k +159,915
68 WEATHERLY ASSET MANAGEMENT L. P. 1.70% of their portfolio DEL MAR, CA 174,922174.9k $14.6m $14.6m 1.70% Reduced -10.1k -10,064
69 DAVENPORT & Co LLC 0.11% of their portfolio RICHMOND, VA 174,589174.6k $14.5m $14.5m 0.11% Added +49 +49
70 OAKWORTH CAPITAL, INC. 1.21% of their portfolio BIRMINGHAM, AL 171,093171.1k $14.2m $14.2m 1.21% Reduced -286 -286
71 S&CO INC 1.13% of their portfolio BOSTON, MA 168,982169.0k $14.1m $14.1m 1.13% Added +148.1k +148,110
72 Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD 0.98% of their portfolio Tel Aviv, L3 167,142167.1k $13.9m $13.9m 0.98% Unchanged
73 Williams Jones Wealth Management, LLC. 0.20% of their portfolio NEW YORK, NY 160,525160.5k $13.4m $13.4m 0.20% Reduced -351 -351
74 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 153,690153.7k $12.8m $12.8m 0.04% Reduced -39.4k -39,421
75 Tekla Capital Management LLC 0.48% of their portfolio Boston, MA 147,677147.7k $12.3m $12.3m 0.48% Unchanged
76 BANQUE PICTET & CIE SA 0.11% of their portfolio GENEVA 73, V8 146,726146.7k $12.2m $12.2m 0.11% Added +59.5k +59,510
77 Caption Management, LLC 2.13% of their portfolio OKLAHOMA CITY, OK 145,585145.6k $12.1m $12.1m 2.13% Added +131.0k +130,985
78 FIFTH THIRD BANCORP 0.05% of their portfolio CINCINNATI, OH 145,056145.1k $12.1m $12.1m 0.05% Reduced -27.3k -27,283
79 CASTLEARK MANAGEMENT LLC 0.54% of their portfolio CHICAGO, IL 143,110143.1k $11.9m $11.9m 0.54% New
80 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.15% of their portfolio Madrid, U3 141,720141.7k $11.8m $11.8m 0.15% Added +74.6k +74,584
81 Johns Hopkins University 0.65% of their portfolio BALTIMORE, MD 139,481139.5k $11.6m $11.6m 0.65% Unchanged
82 EASTERN BANK 0.55% of their portfolio BOSTON, MA 139,266139.3k $11.6m $11.6m 0.55% Added +623 +623
83 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 138,896138.9k $11.6m $11.6m 0.06% Reduced -3.9k -3,928
84 CHIRON CAPITAL MANAGEMENT, LLC 9.11% of their portfolio TALLAHASSEE, FL 138,210138.2k $11.5m $11.5m 9.11% Reduced -29.1k -29,100
85 WHITTIER TRUST CO OF NEVADA INC 0.37% of their portfolio RENO, NV 132,996133.0k $11.1m $11.1m 0.37% Reduced -1.2k -1,152
86 Parallax Volatility Advisers, L.P. 0.38% of their portfolio San Francisco, CA 132,747132.7k $11.0m $11.0m 0.38% Reduced -199.6k -199,625
87 Crescent Grove Advisors, LLC 1.16% of their portfolio LAKE FOREST, IL 130,035130.0k $10.8m $10.8m 1.16% Reduced -517 -517
88 Quantitative Investment Management, LLC 1.01% of their portfolio CHARLOTTESVILLE, VA 128,653128.7k $10.7m $10.7m 1.01% New
89 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 123,375123.4k $10.3m $10.3m 0.02% Reduced -5.3k -5,260
90 Estate Counselors, LLC 1.30% of their portfolio Thiensville, WI 122,885122.9k $10.2m $10.2m 1.30% Reduced -87.5k -87,505
91 WS MANAGEMENT LLLP 1.37% of their portfolio JACKSONVILLE, FL 120,000120.0k $10.0m $10.0m 1.37% Reduced -80.0k -80,000
92 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 119,890119.9k $10.0m $10.0m 0.02% Added +19.8k +19,770
93 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 119,117119.1k $9.9m $9.9m 0.00% Reduced -357 -357
94 Vanderbilt University 2.53% of their portfolio NASHVILLE, TN 118,968119.0k $9.9m $9.9m 2.53% Unchanged
95 SIMPLEX TRADING, LLC 0.41% of their portfolio CHICAGO, IL 116,879116.9k $9.7m $9.7m 0.41% Added +37.3k +37,260
96 Corient Private Wealth LP 0.02% of their portfolio MIAMI, FL 115,534115.5k $9.6m $9.6m 0.02% Added +31.7k +31,735
97 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 114,410114.4k $9.5m $9.5m 0.00% Added +7.0k +6,973
98 Edge Wealth Management LLC 2.07% of their portfolio NEW YORK, NY 113,991114.0k $9.5m $9.5m 2.07% Added +3.4k +3,448
99 Cambridge Investment Research Advisors, Inc. 0.04% of their portfolio FAIRFIELD, IA 111,225111.2k $9.3m $9.3m 0.04% Added +36.2k +36,234
100 BLAIR WILLIAM & CO/IL 0.03% of their portfolio CHICAGO, IL 109,160109.2k $9.1m $9.1m 0.03% Added +2.0k +2,048