Vault-13

SPDR SER TR XOP

S&P OILGAS EXP · ETP · CUSIP 78468R556

354 institutional holders -29 vs Q4 2024
24,691,14424.7m shares reported held*
$3.3bnreported value*
42 new 96 added 114 reduced 70 sold out net bought ≈ $567.6m (+4.3m 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 ($6.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $131.72. Options: 25 managers hold calls ($1.2bn notional), 43 hold puts ($2.3bn).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 355Q4 22: 380Q1 23: 364Q2 23: 346Q3 23: 389Q4 23: 393Q1 24: 388Q2 24: 395Q3 24: 367Q4 24: 383Q1 25: 354354Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022355
Q4 2022380
Q1 2023364
Q2 2023346
Q3 2023389
Q4 2023393
Q1 2024388
Q2 2024395
Q3 2024367
Q4 2024383
Q1 2025354

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 23: 136 bought or addedQ2 23: 167 cut or sold outQ3 23: 207 bought or addedQ3 23: 130 cut or sold outQ3 23Q4 23: 141 bought or addedQ4 23: 213 cut or sold outQ1 24: 174 bought or addedQ1 24: 182 cut or sold outQ1 24Q2 24: 169 bought or addedQ2 24: 168 cut or sold outQ3 24: 150 bought or addedQ3 24: 190 cut or sold outQ3 24Q4 24: 151 bought or addedQ4 24: 188 cut or sold outQ1 25: 138 bought or addedQ1 25: 184 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023136167
Q3 2023207130
Q4 2023141213
Q1 2024174182
Q2 2024169168
Q3 2024150190
Q4 2024151188
Q1 2025138184

Calls vs puts

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

CallsPuts
$0$1bn$2bn$3bnQ2 24 calls: $1.2bnQ2 24 puts: $1.6bnQ2 24P/C 1.34Q3 24 calls: $1.6bnQ3 24 puts: $2.9bnQ3 24P/C 1.78Q4 24 calls: $1.5bnQ4 24 puts: $2.3bnQ4 24P/C 1.54Q1 25 calls: $1.2bnQ1 25 puts: $2.3bnQ1 25P/C 1.87
Numbers
QuarterCallsPutsP/C
Q2 2024$1.2bn$1.6bn1.34
Q3 2024$1.6bn$2.9bn1.78
Q4 2024$1.5bn$2.3bn1.54
Q1 2025$1.2bn$2.3bn1.87

Biggest buyers

CITIGROUP INC Added +1,568,597+1.6m
MORGAN STANLEY Added +1,456,160+1.5m
JPMORGAN CHASE & CO Added +737,032+737.0k
WELLS FARGO & COMPANY/MN Added +715,238+715.2k
BANK OF AMERICA CORP /DE/ Added +590,888+590.9k
BARCLAYS PLC Added +393,683+393.7k
TWO SIGMA INVESTMENTS, LP New +371,089+371.1k
UBS Group AG Added +309,738+309.7k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +103,000+103.0k
Quantitative Investment Management, LLC New +101,382+101.4k

Biggest sellers

CITADEL ADVISORS LLC Reduced -698,152-698.2k
DISCOVERY CAPITAL MANAGEMENT, LLC / CT Sold out -573,000-573.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -220,877-220.9k
Jefferies Financial Group Inc. Reduced -118,830-118.8k
CAPITAL FUND MANAGEMENT S.A. Reduced -115,426-115.4k
Claar Advisors LLC Sold out -73,810-73.8k
SPX Gestao de Recursos Ltda Sold out -65,970-66.0k
VALLEY WEALTH MANAGERS, INC. Reduced -56,235-56.2k
Cetera Investment Advisers Reduced -50,935-50.9k
ROYAL BANK OF CANADA Reduced -50,735-50.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $271.0m2.1m shares
JANE STREET GROUP, LLC Added $194.0m1.5m shares
CITADEL ADVISORS LLC Reduced $108.0m820.2k shares
CAPSTONE INVESTMENT ADVISORS, LLC Added $90.5m687.0k shares
GOLDMAN SACHS GROUP INC Added $87.7m666.1k shares
MILLENNIUM MANAGEMENT LLC Reduced $82.8m628.6k shares
SoftVest Advisors, LLC Unchanged $59.3m450.0k shares
WELLS FARGO & COMPANY/MN Added $55.9m424.7k shares
Balyasny Asset Management L.P. Reduced $48.4m367.5k shares
WOLVERINE TRADING, LLC Added $43.3m331.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $456.5m3.5m shares
SoftVest Advisors, LLC Reduced $231.8m1.8m shares
CITADEL ADVISORS LLC Reduced $186.9m1.4m shares
JANE STREET GROUP, LLC Reduced $137.8m1.0m shares
WELLS FARGO & COMPANY/MN Added $107.5m816.3k shares
BARCLAYS PLC Added $107.5m815.9k shares
CAPSTONE INVESTMENT ADVISORS, LLC Added $99.5m755.5k shares
MILLENNIUM MANAGEMENT LLC Reduced $96.0m729.1k shares
ARISTEIA CAPITAL, L.L.C. New $83.8m636.6k shares
GOLDMAN SACHS GROUP INC Reduced $76.8m582.9k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: Invesco Ltd. (0.0%, 2026-08-13)

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GOLDMAN SACHS GROUP INC 0.09% of their portfolio NEW YORK, NY 3,793,3533.8m $499.6m $499.6m 0.09% Reduced -24.2k -24,230
2 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 2,951,5883.0m $388.8m $388.8m 0.03% Added +1.5m +1,456,160
3 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.78% of their portfolio TORONTO, A6 2,680,0002.7m $353.0m $353.0m 0.78% Added +103.0k +103,000
4 CITIGROUP INC 0.22% of their portfolio NEW YORK, NY 2,217,0442.2m $292.0m $292.0m 0.22% Added +1.6m +1,568,597
5 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,710,9781.7m $225.4m $225.4m 0.02% Added +590.9k +590,888
6 UBS Group AG 0.04% of their portfolio ZURICH, V8 1,436,5081.4m $189.2m $189.2m 0.04% Added +309.7k +309,738
7 BARCLAYS PLC 0.07% of their portfolio LONDON, X0 1,196,5081.2m $157.6m $157.6m 0.07% Added +393.7k +393,683
8 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 845,656845.7k $111.4m $111.4m 0.03% Added +715.2k +715,238
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 782,907782.9k $103.1m $103.1m 0.01% Added +737.0k +737,032
10 MIRAE ASSET SECURITIES (USA) INC. 3.68% of their portfolio NEW YORK, NY 650,000650.0k $85.6m $85.6m 3.68% Unchanged
11 BESSEMER GROUP INC 0.12% of their portfolio WOODBRIDGE, NJ 512,442512.4k $67.5m $67.5m 0.12% Added +12.7k +12,740
12 TWO SIGMA INVESTMENTS, LP 0.11% of their portfolio NEW YORK, NY 371,089371.1k $48.9m $48.9m 0.11% New
13 Vanderbilt University 8.93% of their portfolio NASHVILLE, TN 354,903354.9k $46.7m $46.7m 8.93% Added +2.0k +2,025
14 EP Wealth Advisors, LLC 0.30% of their portfolio TORRANCE, CA 289,507289.5k $38.1m $38.1m 0.30% Added +9.4k +9,423
15 Phoenix Financial Ltd. 0.58% of their portfolio Givatayim, L3 288,993289.0k $38.1m $38.1m 0.58% Unchanged
16 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 218,194218.2k $28.7m $28.7m 0.01% Reduced -50.7k -50,735
17 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 209,909209.9k $27.6m $27.6m 0.01% Added +6.4k +6,443
18 OAKWORTH CAPITAL, INC. 1.85% of their portfolio BIRMINGHAM, AL 201,332201.3k $26.5m $26.5m 1.85% Added +8.0k +8,026
19 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 171,459171.5k $22.6m $22.6m 0.04% Reduced -220.9k -220,877
20 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 132,610132.6k $17.5m $17.5m 0.02% Reduced -698.2k -698,152
21 Squarepoint Ops LLC 0.04% of their portfolio NEW YORK, NY 118,459118.5k $15.6m $15.6m 0.04% Added +28.7k +28,747
22 CAPITAL FUND MANAGEMENT S.A. 0.20% of their portfolio PARIS, I0 117,985118.0k $15.5m $15.5m 0.20% Reduced -115.4k -115,426
23 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 110,986111.0k $14.6m $14.6m 0.01% Reduced -639 -639
24 Quantitative Investment Management, LLC 1.23% of their portfolio CHARLOTTESVILLE, VA 101,382101.4k $13.4m $13.4m 1.23% New
25 Condire Management, LP 1.73% of their portfolio DALLAS, TX 87,88987.9k $11.6m $11.6m 1.73% Added +3.2k +3,196
26 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 85,39685.4k $12.0m $12.0m 0.03% Reduced -48.3k -48,325
27 Insight Wealth Strategies, LLC 1.41% of their portfolio SAN RAMON, CA 79,38379.4k $10.5m $10.5m 1.41% Added +15.5k +15,479
28 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 78,92378.9k $10.4m $10.4m 0.02% Reduced -50.9k -50,935
29 TUDOR INVESTMENT CORP ET AL 0.09% of their portfolio STAMFORD, CT 78,00378.0k $10.3m $10.3m 0.09% Added +57.2k +57,187
30 CONNABLE OFFICE INC 1.07% of their portfolio KALAMAZOO, MI 76,62276.6k $10.1m $10.1m 1.07% Added +1.4k +1,444
31 LMR Partners LLP 0.20% of their portfolio LONDON, X0 76,35076.3k $10.1m $10.1m 0.20% New
32 Balyasny Asset Management L.P. 0.02% of their portfolio Chicago, IL 68,35168.4k $9.0m $9.0m 0.02% New
33 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 64,77064.8k $8.5m $8.5m 0.03% Added +5.9k +5,890
34 SATOVSKY ASSET MANAGEMENT LLC 1.67% of their portfolio NEW YORK, NY 56,66556.7k $7.5m $7.5m 1.67% Reduced -1.0k -1,037
35 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 56,42256.4k $7.4m $7.4m 0.00% Added +8.0k +8,017
36 Southeast Asset Advisors, LLC 0.89% of their portfolio THOMASVILLE, GA 55,14055.1k $7.3m $7.3m 0.89% Added +950 +950
37 Madrid Financial Services 4.61% of their portfolio MANHATTAN BEACH, CA 48,03248.0k $6.3m $6.3m 4.61% Added +4.2k +4,247
38 Cinctive Capital Management LP 0.49% of their portfolio New York, NY 47,03847.0k $6.2m $6.2m 0.49% Added +43.0k +42,971
39 Skylands Capital, LLC 0.89% of their portfolio Milwaukee, WI 47,02547.0k $6.2m $6.2m 0.89% Added +14.6k +14,600
40 Parallax Volatility Advisers, L.P. 0.19% of their portfolio San Francisco, CA 44,54244.5k $5.9m $5.9m 0.19% Added +44.5k +44,541
41 Modus Advisors, LLC 1.87% of their portfolio EXCELSIOR, MN 43,34443.3k $5.7m $5.7m 1.87% Reduced -798 -798
42 CTC Alternative Strategies, Ltd. 6.92% of their portfolio CHICAGO, IL 42,96043.0k $5.7m $5.7m 6.92% New
43 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 42,09842.1k $5.5m $5.5m 0.00% Reduced -10.0k -10,007
44 Frisch Financial Group, Inc. 1.56% of their portfolio MELVILLE, NY 42,09042.1k $5.5m $5.5m 1.56% Reduced -74 -74
45 Banque Cantonale Vaudoise 0.24% of their portfolio LAUSANNE, V8 41,91841.9k $5.5m $5.5m 0.24% First filing
46 EARNEST PARTNERS LLC 0.03% of their portfolio ATLANTA, GA 40,09440.1k $5.3m $5.3m 0.03% Unchanged
47 HRT FINANCIAL LP 0.04% of their portfolio NEW YORK, NY 40,03240.0k $5.3m $5.3m 0.04% Added +24.6k +24,603
48 Krilogy Financial LLC 0.33% of their portfolio ST. LOUIS, MO 38,60438.6k $5.1m $5.1m 0.33% Added +6.4k +6,430
49 Eisler Capital Management Ltd. 0.15% of their portfolio LONDON, X0 38,55338.6k $5.1m $5.1m 0.15% Reduced -44.0k -43,964
50 Allianz SE 0.13% of their portfolio Munich, 2M 38,22538.2k $5.0m $5.0m 0.13% Added +2.0k +2,000
51 Arkadios Wealth Advisors 0.17% of their portfolio ATLANTA, GA 34,87334.9k $4.6m $4.6m 0.17% Added +27.2k +27,216
52 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 34,10334.1k $4.5m $4.5m 0.00% Reduced -3.1k -3,078
53 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 31,83931.8k $4.2m $4.2m 0.01% Added +6.2k +6,168
54 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 31,21431.2k $4.1m $4.1m 0.01% Reduced -8.3k -8,286
55 TWO SIGMA SECURITIES, LLC 0.61% of their portfolio NEW YORK, NY 30,29030.3k $4.0m $4.0m 0.61% New
56 FLOW TRADERS U.S. LLC 0.16% of their portfolio NEW YORK, NY 29,58629.6k $3.9m $3.9m 0.16% New
57 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 28,39928.4k $3.7m $3.7m 0.01% Reduced -1.5k -1,535
58 Maven Securities LTD 0.81% of their portfolio ST HELIER, Y9 27,97028.0k $3.7m $3.7m 0.81% New
59 SIG BROKERAGE, LP 1.03% of their portfolio BALA CYNWYD, PA 26,88826.9k $3.5m $3.5m 1.03% Added +24.3k +24,297
60 Lombard Odier Asset Management (USA) Corp 1.16% of their portfolio New York, NY 26,00026.0k $3.4m $3.4m 1.16% Unchanged
61 ArchPoint Investors 1.08% of their portfolio CORAL GABLES, FL 24,93324.9k $3.3m $3.3m 1.08% Unchanged
62 Cadence Wealth Management LLC 2.39% of their portfolio WESTBOROUGH, MA 24,57224.6k $3.2m $3.2m 2.39% Added +526 +526
63 Jaffetilchin Investment Partners, LLC 0.23% of their portfolio TAMPA, FL 24,23224.2k $3.2m $3.2m 0.23% New
64 MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio DENVER, CO 23,35723.4k $3.1m $3.1m 0.01% Added +10.4k +10,446
65 WOLVERINE TRADING, LLC 0.09% of their portfolio CHICAGO, IL 22,58322.6k $3.0m $3.0m 0.09% Added +15.2k +15,186
66 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 22,23022.2k $2.9m $2.9m 0.01% Added +2.1k +2,131
67 ONE PLUS ONE WEALTH MANAGEMENT, LLC 1.59% of their portfolio JUPITER, FL 22,17422.2k $2.9m $2.9m 1.59% Reduced -207 -207
68 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 21,27721.3k $2.8m $2.8m 0.01% Added +6.3k +6,257
69 CWM, LLC 0.01% of their portfolio OMAHA, NE 21,22221.2k $2.8m $2.8m 0.01% Added +3.1k +3,104
70 BOOTHBAY FUND MANAGEMENT, LLC 0.09% of their portfolio NEW YORK, NY 20,50020.5k $2.7m $2.7m 0.09% New
71 Sourcerock Group LLC 0.15% of their portfolio DENVER, CO 20,50020.5k $2.7m $2.7m 0.15% New
72 Greenland Capital Management LP 0.46% of their portfolio NEW YORK, NY 20,47020.5k $2.7m $2.7m 0.46% New
73 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 20,09520.1k $2.6m $2.6m 0.00% Added +707 +707
74 DRW Securities, LLC 0.22% of their portfolio CHICAGO, IL 19,61419.6k $2.6m $2.6m 0.22% Reduced -31.0k -31,000
75 AMICA MUTUAL INSURANCE CO 0.28% of their portfolio PROVIDENCE, RI 19,60619.6k $2.6m $2.6m 0.28% Unchanged
76 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 19,25619.3k $2.5m $2.5m 0.00% Added +2.0k +2,002
77 ARS Investment Partners, LLC 0.22% of their portfolio New York, NY 18,65118.7k $2.5m $2.5m 0.22% Reduced -26 -26
78 Itau Unibanco Holding S.A. 0.09% of their portfolio SAO PAULO, D5 18,60018.6k $2.5m $2.5m 0.09% Unchanged
79 ACIMA PRIVATE WEALTH, LLC 0.85% of their portfolio RICHMOND, VA 17,94417.9k $2.4m $2.4m 0.85% Unchanged
80 Twin Tree Management, LP 0.05% of their portfolio DALLAS, TX 17,77917.8k $2.3m $2.3m 0.05% Reduced -57 -57
81 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 16,88216.9k $2.2m $2.2m 0.00% Reduced -1.6k -1,587
82 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 16,84616.8k $2.2m $2.2m 0.01% Reduced -683 -683
83 Integrated Wealth Concepts LLC 0.03% of their portfolio WALTHAM, MA 16,57416.6k $2.2m $2.2m 0.03% Added +2.6k +2,593
84 Pettinga Financial Advisors LLC 0.49% of their portfolio EVANSVILLE, IN 15,79215.8k $2.1m $2.1m 0.49% Reduced -2.7k -2,715
85 HERITAGE OAK WEALTH ADVISORS LLC 0.91% of their portfolio SANTA ROSA BEACH, FL 15,73015.7k $2.1m $2.1m 0.91% Added +3.3k +3,272
86 Stamos Capital Partners, L.P. 0.53% of their portfolio Menlo Park, CA 15,36115.4k $2.0m $2.0m 0.53% Reduced -2.1k -2,099
87 Sierra Capital LLC 0.24% of their portfolio MIAMI, FL 15,11815.1k $2.0m $2.0m 0.24% Unchanged
88 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 15,06215.1k $2.0m $2.0m 0.01% Reduced -798 -798
89 Jain Global LLC 0.04% of their portfolio NEW YORK, NY 14,81914.8k $2.0m $2.0m 0.04% New
90 Brookstone Capital Management 0.03% of their portfolio WHEATON, IL 14,69914.7k $1.9m $1.9m 0.03% Reduced -1.2k -1,188
91 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.02% of their portfolio Madrid, U3 14,56714.6k $1.9m $1.9m 0.02% New
92 Alaska Permanent Fund Corp 0.02% of their portfolio JUNEAU, AK 14,44414.4k $1.6m $1.6m 0.02% Unchanged
93 Optiver Holding B.V. 0.07% of their portfolio AMSTERDAM, P7 14,36214.4k $1.9m $1.9m 0.07% New
94 U.S. Capital Wealth Advisors, LLC 0.06% of their portfolio AUSTIN, TX 13,83313.8k $1.8m $1.8m 0.06% Reduced -2.0k -1,989
95 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.01% of their portfolio NEW YORK, NY 13,05013.1k $1.7m $1.7m 0.01% Unchanged
96 Evercore Wealth Management, LLC 0.03% of their portfolio New York, NY 13,00813.0k $1.7m $1.7m 0.03% Reduced -1.7k -1,727
97 RFG Holdings, Inc. 0.56% of their portfolio Argyle, TX 13,00013.0k $1.7m $1.7m 0.56% Reduced -542 -542
98 Carrera Capital Advisors 0.38% of their portfolio TROY, MI 12,98813.0k $1.7m $1.7m 0.38% Added +1.7k +1,709
99 Y.D. More Investments Ltd 0.14% of their portfolio Ramat Gan, L3 12,00012.0k $1.6m $1.6m 0.14% Unchanged
100 HBK Sorce Advisory LLC 0.05% of their portfolio ERIE, PA 11,98012.0k $1.6m $1.6m 0.05% Reduced -49 -49