Vault-13

SPDR SER TR XOP

S&P OILGAS EXP · ETP · CUSIP 78468R556

349 institutional holders -5 vs Q1 2025
29,054,44629.1m shares reported held*
$3.7bnreported value*
49 new 89 added 128 reduced 59 sold out net bought ≈ $548.0m (+4.4m 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 ($18.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $125.80. Options: 30 managers hold calls ($1.2bn notional), 38 hold puts ($2.0bn).

Trends to Q2 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: 354Q2 25: 349349Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 2025349

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 207 bought or addedQ3 23: 130 cut or sold outQ4 23: 141 bought or addedQ4 23: 213 cut or sold outQ4 23Q1 24: 174 bought or addedQ1 24: 182 cut or sold outQ2 24: 169 bought or addedQ2 24: 168 cut or sold outQ2 24Q3 24: 150 bought or addedQ3 24: 190 cut or sold outQ4 24: 151 bought or addedQ4 24: 188 cut or sold outQ4 24Q1 25: 138 bought or addedQ1 25: 184 cut or sold outQ2 25: 138 bought or addedQ2 25: 187 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023207130
Q4 2023141213
Q1 2024174182
Q2 2024169168
Q3 2024150190
Q4 2024151188
Q1 2025138184
Q2 2025138187

Calls vs puts

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

CallsPuts
$0$1bn$2bn$3bnQ3 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 1.87Q2 25 calls: $1.2bnQ2 25 puts: $2.0bnQ2 25P/C 1.64
Numbers
QuarterCallsPutsP/C
Q3 2024$1.6bn$2.9bn1.78
Q4 2024$1.5bn$2.3bn1.54
Q1 2025$1.2bn$2.3bn1.87
Q2 2025$1.2bn$2.0bn1.64

Biggest buyers

JPMORGAN CHASE & CO Added +2,192,315+2.2m
BANK OF AMERICA CORP /DE/ Added +1,349,394+1.3m
PRICE T ROWE ASSOCIATES INC /MD/ New +953,455+953.5k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +550,000+550.0k
ROYAL BANK OF CANADA Added +527,010+527.0k
JANE STREET GROUP, LLC New +204,648+204.6k
CITADEL ADVISORS LLC Added +168,557+168.6k
Twin Tree Management, LP Added +106,185+106.2k
BARCLAYS PLC Added +102,147+102.1k
UBS Group AG Added +102,078+102.1k

Biggest sellers

TWO SIGMA INVESTMENTS, LP Sold out -371,089-371.1k
MORGAN STANLEY Reduced -332,093-332.1k
Phoenix Financial Ltd. Sold out -288,993-289.0k
OAKWORTH CAPITAL, INC. Reduced -201,100-201.1k
WELLS FARGO & COMPANY/MN Reduced -129,311-129.3k
CAPITAL FUND MANAGEMENT S.A. Sold out -117,985-118.0k
CITIGROUP INC Reduced -110,846-110.8k
Quantitative Investment Management, LLC Reduced -96,460-96.5k
MILLENNIUM MANAGEMENT LLC Reduced -88,986-89.0k
Condire Management, LP Sold out -87,889-87.9k

Biggest calls

PEAK6 LLC Added $350.6m2.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $203.8m1.6m shares
BARCLAYS PLC Added $95.9m762.2k shares
CITADEL ADVISORS LLC Reduced $85.9m682.7k shares
JANE STREET GROUP, LLC Reduced $68.2m542.4k shares
MILLENNIUM MANAGEMENT LLC Reduced $61.8m491.4k shares
SoftVest Advisors, LLC Unchanged $56.6m450.0k shares
CAPSTONE INVESTMENT ADVISORS, LLC Reduced $42.3m336.0k shares
WOLVERINE TRADING, LLC Reduced $26.2m206.1k shares
BANK OF AMERICA CORP /DE/ Added $23.1m183.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $462.4m3.7m shares
JANE STREET GROUP, LLC Added $205.9m1.6m shares
CITADEL ADVISORS LLC Reduced $132.4m1.1m shares
HBK INVESTMENTS L P Added $109.3m869.0k shares
SoftVest Advisors, LLC Reduced $109.2m868.0k shares
MILLENNIUM MANAGEMENT LLC Added $103.2m820.4k shares
WELLS FARGO & COMPANY/MN Reduced $94.1m748.2k shares
BANK OF AMERICA CORP /DE/ Added $84.1m668.8k shares
ARISTEIA CAPITAL, L.L.C. Reduced $77.8m618.6k shares
WOLVERINE TRADING, LLC Added $70.4m553.1k 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 3,738,3983.7m $470.3m $470.3m 0.08% Reduced -55.0k -54,955
2 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.81% of their portfolio TORONTO, A6 3,230,0003.2m $406.3m $406.3m 0.81% Added +550.0k +550,000
3 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 3,060,3723.1m $385.0m $385.0m 0.03% Added +1.3m +1,349,394
4 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 2,975,2223.0m $374.3m $374.3m 0.03% Added +2.2m +2,192,315
5 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 2,619,4952.6m $329.5m $329.5m 0.02% Reduced -332.1k -332,093
6 CITIGROUP INC 0.18% of their portfolio NEW YORK, NY 2,106,1982.1m $265.0m $265.0m 0.18% Reduced -110.8k -110,846
7 UBS Group AG 0.04% of their portfolio ZURICH, V8 1,538,5861.5m $193.6m $193.6m 0.04% Added +102.1k +102,078
8 BARCLAYS PLC 0.06% of their portfolio LONDON, X0 1,298,6551.3m $163.4m $163.4m 0.06% Added +102.1k +102,147
9 PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio BALTIMORE, MD 953,455953.5k $119.9m $119.9m 0.01% New
10 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 745,204745.2k $93.7m $93.7m 0.01% Added +527.0k +527,010
11 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 716,345716.3k $90.1m $90.1m 0.02% Reduced -129.3k -129,311
12 MIRAE ASSET SECURITIES (USA) INC. 3.61% of their portfolio NEW YORK, NY 650,000650.0k $81.8m $81.8m 3.61% Unchanged
13 BESSEMER GROUP INC 0.10% of their portfolio WOODBRIDGE, NJ 511,340511.3k $64.3m $64.3m 0.10% Reduced -1.1k -1,102
14 Vanderbilt University 8.48% of their portfolio NASHVILLE, TN 357,073357.1k $44.9m $44.9m 8.48% Added +2.2k +2,170
15 CITADEL ADVISORS LLC 0.03% of their portfolio MIAMI, FL 301,167301.2k $37.9m $37.9m 0.03% Added +168.6k +168,557
16 EP Wealth Advisors, LLC 0.24% of their portfolio TORRANCE, CA 292,149292.1k $36.8m $36.8m 0.24% Added +2.6k +2,642
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 261,435261.4k $32.9m $32.9m 0.05% Added +90.0k +89,976
18 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 204,648204.6k $25.7m $25.7m 0.04% New
19 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 190,876190.9k $24.0m $24.0m 0.01% Reduced -19.0k -19,033
20 Squarepoint Ops LLC 0.04% of their portfolio NEW YORK, NY 158,335158.3k $19.9m $19.9m 0.04% Added +39.9k +39,876
21 Twin Tree Management, LP 0.39% of their portfolio DALLAS, TX 123,964124.0k $15.6m $15.6m 0.39% Added +106.2k +106,185
22 Quadrature Capital Ltd 0.20% of their portfolio LONDON, X0 93,00193.0k $11.7m $11.7m 0.20% Added +81.8k +81,806
23 STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio MADISON, WI 88,80088.8k $11.2m $11.2m 0.03% New
24 ExodusPoint Capital Management, LP 0.11% of their portfolio NEW YORK, NY 73,43473.4k $9.2m $9.2m 0.11% New
25 Marex Group Ltd 0.16% of their portfolio London, X0 66,88966.9k $8.4m $8.4m 0.16% Added +65.3k +65,278
26 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 63,49663.5k $8.0m $8.0m 0.00% Added +7.1k +7,074
27 Southeast Asset Advisors, LLC 0.90% of their portfolio THOMASVILLE, GA 59,96060.0k $7.5m $7.5m 0.90% Added +4.8k +4,820
28 SATOVSKY ASSET MANAGEMENT LLC 1.55% of their portfolio NEW YORK, NY 57,73057.7k $7.3m $7.3m 1.55% Added +1.1k +1,065
29 GTS SECURITIES LLC 0.32% of their portfolio NEW YORK, NY 56,26456.3k $7.1m $7.1m 0.32% New
30 GROUP ONE TRADING LLC 0.23% of their portfolio CHICAGO, IL 55,20255.2k $6.9m $6.9m 0.23% New
31 W.G. Shaheen & Associates DBA Whitney & Co 0.65% of their portfolio ROCHESTER, NY 52,69452.7k $6.6m $6.6m 0.65% New
32 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 52,41752.4k $6.6m $6.6m 0.01% Reduced -26.5k -26,506
33 CAPSTONE INVESTMENT ADVISORS, LLC 0.06% of their portfolio NEW YORK, NY 51,52351.5k $6.5m $6.5m 0.06% New
34 Allianz SE 0.15% of their portfolio Munich, 2M 51,02551.0k $6.4m $6.4m 0.15% Added +12.8k +12,800
35 Jain Global LLC 0.09% of their portfolio NEW YORK, NY 48,00048.0k $6.0m $6.0m 0.09% Added +33.2k +33,181
36 Atom Investors LP 0.50% of their portfolio AUSTIN, TX 45,21745.2k $5.7m $5.7m 0.50% Added +33.5k +33,536
37 TUDOR INVESTMENT CORP ET AL 0.04% of their portfolio STAMFORD, CT 44,27944.3k $5.6m $5.6m 0.04% Reduced -33.7k -33,724
38 Skylands Capital, LLC 0.80% of their portfolio Milwaukee, WI 43,81543.8k $5.5m $5.5m 0.80% Reduced -3.2k -3,210
39 Modus Advisors, LLC 1.60% of their portfolio EXCELSIOR, MN 42,70042.7k $5.4m $5.4m 1.60% Reduced -644 -644
40 Krilogy Financial LLC 0.29% of their portfolio ST. LOUIS, MO 40,37540.4k $5.1m $5.1m 0.29% Added +1.8k +1,771
41 EARNEST PARTNERS LLC 0.02% of their portfolio ATLANTA, GA 40,09440.1k $5.0m $5.0m 0.02% Unchanged
42 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 40,08640.1k $5.0m $5.0m 0.01% Reduced -24.7k -24,684
43 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 38,25738.3k $4.8m $4.8m 0.00% Reduced -3.8k -3,841
44 WHITEBOX ADVISORS LLC 0.11% of their portfolio MINNEAPOLIS, MN 32,90332.9k $4.1m $4.1m 0.11% New
45 Banque Cantonale Vaudoise 0.17% of their portfolio LAUSANNE, V8 32,31832.3k $4.1m $4.1m 0.17% Reduced -9.6k -9,600
46 Stamos Capital Partners, L.P. 0.66% of their portfolio Menlo Park, CA 29,42729.4k $3.7m $3.7m 0.66% Added +14.1k +14,066
47 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 29,39829.4k $3.7m $3.7m 0.00% Reduced -4.7k -4,705
48 Lombard Odier Asset Management (USA) Corp 0.91% of their portfolio New York, NY 29,00029.0k $3.6m $3.6m 0.91% Added +3.0k +3,000
49 Ashton Thomas Private Wealth, LLC 0.13% of their portfolio SCOTTSDALE, AZ 28,49228.5k $3.6m $3.6m 0.13% Added +26.9k +26,912
50 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 28,41328.4k $3.6m $3.6m 0.02% Reduced -3.4k -3,426
51 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 27,81627.8k $3.5m $3.5m 0.00% Reduced -583 -583
52 Arkadios Wealth Advisors 0.10% of their portfolio ATLANTA, GA 26,79326.8k $3.4m $3.4m 0.10% Reduced -8.1k -8,080
53 Aster Capital Management (DIFC) Ltd 0.74% of their portfolio DUBAI, C0 26,06526.1k $3.3m $3.3m 0.74% New
54 ARS Investment Partners, LLC 0.24% of their portfolio New York, NY 25,95626.0k $3.3m $3.3m 0.24% Added +7.3k +7,305
55 Cadence Wealth Management LLC 2.12% of their portfolio WESTBOROUGH, MA 25,52625.5k $3.2m $3.2m 2.12% Added +954 +954
56 CREDIT INDUSTRIEL ET COMMERCIAL 0.51% of their portfolio PARIS FRANCE, I0 25,26725.3k $3.2m $3.2m 0.51% Added +20.8k +20,824
57 ArchPoint Investors 0.92% of their portfolio CORAL GABLES, FL 24,93324.9k $3.1m $3.1m 0.92% Unchanged
58 Graham Capital Management, L.P. 0.09% of their portfolio ROWAYTON, CT 23,95023.9k $3.0m $3.0m 0.09% Added +19.4k +19,450
59 Frisch Financial Group, Inc. 0.69% of their portfolio MELVILLE, NY 22,41022.4k $2.8m $2.8m 0.69% Reduced -19.7k -19,680
60 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 22,27522.3k $2.8m $2.8m 0.00% Added +2.2k +2,180
61 Walleye Trading LLC 0.07% of their portfolio NEW YORK, NY 22,16222.2k $2.8m $2.8m 0.07% New
62 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 22,00022.0k $2.8m $2.8m 0.00% Reduced -89.0k -88,986
63 PING CAPITAL MANAGEMENT, INC. 1.57% of their portfolio NEW YORK, NY 22,00022.0k $2.8m $2.8m 1.57% Added +12.0k +12,000
64 Jaffetilchin Investment Partners, LLC 0.17% of their portfolio TAMPA, FL 21,15121.2k $2.7m $2.7m 0.17% Reduced -3.1k -3,081
65 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 20,97121.0k $2.6m $2.6m 0.01% Reduced -1.3k -1,259
66 IMC-Chicago, LLC 0.07% of their portfolio CHICAGO, IL 20,96921.0k $2.6m $2.6m 0.07% New
67 ONE PLUS ONE WEALTH MANAGEMENT, LLC 1.41% of their portfolio JUPITER, FL 20,58820.6k $2.6m $2.6m 1.41% Reduced -1.6k -1,586
68 XTX Topco Ltd 0.10% of their portfolio LONDON, X0 19,74519.7k $2.5m $2.5m 0.10% New
69 AMICA MUTUAL INSURANCE CO 0.24% of their portfolio PROVIDENCE, RI 19,60619.6k $2.5m $2.5m 0.24% Unchanged
70 TWO SIGMA SECURITIES, LLC 0.30% of their portfolio NEW YORK, NY 19,60619.6k $2.5m $2.5m 0.30% Reduced -10.7k -10,684
71 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 18,79518.8k $2.4m $2.4m 0.00% Added +1.9k +1,913
72 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 18,57118.6k $2.3m $2.3m 0.00% Added +12.3k +12,346
73 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 18,26218.3k $2.3m $2.3m 0.00% Reduced -3.0k -3,015
74 BOOTHBAY FUND MANAGEMENT, LLC 0.07% of their portfolio NEW YORK, NY 17,95118.0k $2.3m $2.3m 0.07% Reduced -2.5k -2,549
75 Sourcerock Group LLC 0.12% of their portfolio DENVER, CO 17,95118.0k $2.3m $2.3m 0.12% Reduced -2.5k -2,549
76 ACIMA PRIVATE WEALTH, LLC 0.77% of their portfolio RICHMOND, VA 17,94417.9k $2.3m $2.3m 0.77% Unchanged
77 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 17,62417.6k $2.2m $2.2m 0.00% Reduced -1.6k -1,632
78 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 16,54416.5k $2.1m $2.1m 0.01% Reduced -302 -302
79 HERITAGE OAK WEALTH ADVISORS LLC 0.77% of their portfolio SANTA ROSA BEACH, FL 15,79815.8k $2.0m $2.0m 0.77% Added +68 +68
80 Pettinga Financial Advisors LLC 0.43% of their portfolio EVANSVILLE, IN 15,56715.6k $2.0m $2.0m 0.43% Reduced -225 -225
81 Eisler Capital Management Ltd. 0.07% of their portfolio LONDON, X0 15,13215.1k $1.9m $1.9m 0.07% Reduced -23.4k -23,421
82 CAZ INVESTMENTS LP 10.69% of their portfolio HOUSTON, TX 15,00015.0k $1.9m $1.9m 10.69% New
83 Brookstone Capital Management 0.02% of their portfolio WHEATON, IL 14,46614.5k $1.8m $1.8m 0.02% Reduced -233 -233
84 Carrera Capital Advisors 0.36% of their portfolio TROY, MI 14,37314.4k $1.8m $1.8m 0.36% Added +1.4k +1,385
85 EWG Elevate Inc. 0.56% of their portfolio ROSEVILLE, CA 14,36314.4k $1.8m $1.8m 0.56% New
86 Venture Visionary Partners LLC 0.06% of their portfolio Sylvania, OH 13,50013.5k $1.7m $1.7m 0.06% Added +6.5k +6,513
87 Integrated Wealth Concepts LLC 0.02% of their portfolio WALTHAM, MA 13,41013.4k $1.7m $1.7m 0.02% Reduced -3.2k -3,164
88 Caption Management, LLC 0.15% of their portfolio OKLAHOMA CITY, OK 13,05013.1k $1.6m $1.6m 0.15% New
89 Evercore Wealth Management, LLC 0.03% of their portfolio New York, NY 12,96813.0k $1.6m $1.6m 0.03% Reduced -40 -40
90 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 12,56512.6k $1.6m $1.6m 0.00% Reduced -10.8k -10,792
91 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.01% of their portfolio Madrid, U3 12,52312.5k $1.6m $1.6m 0.01% Reduced -2.0k -2,044
92 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 12,29212.3k $1.5m $1.5m 0.01% Reduced -27.7k -27,740
93 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.01% of their portfolio NEW YORK, NY 12,26512.3k $1.5m $1.5m 0.01% Reduced -785 -785
94 WOLVERINE TRADING, LLC 0.04% of their portfolio CHICAGO, IL 12,25212.3k $1.6m $1.6m 0.04% Reduced -10.3k -10,331
95 Y.D. More Investments Ltd 0.10% of their portfolio Ramat Gan, L3 12,00012.0k $1.5m $1.5m 0.10% Unchanged
96 HBK Sorce Advisory LLC 0.04% of their portfolio ERIE, PA 11,85511.9k $1.5m $1.5m 0.04% Reduced -125 -125
97 Ascentis Wealth Management, LLC 0.35% of their portfolio DALLAS, TX 11,52311.5k $1.5m $1.5m 0.35% Added +2.3k +2,256
98 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 11,51811.5k $1.4m $1.4m 0.01% Reduced -3.5k -3,544
99 RFG Holdings, Inc. 0.42% of their portfolio Argyle, TX 11,46511.5k $1.4m $1.4m 0.42% Reduced -1.5k -1,535
100 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 11,37911.4k $1.4m $1.4m 0.00% Added +874 +874