Financial Select Sector SPDR Fund
XLF • ARCA
Financial Select Sector SPDR Fund is an exchange-traded fund focused on the state commercial banks sector on ARCA. As of Q3 2025, 1,783 institutional investors hold shares in this ETF, with total holdings valued at $39.4B. JPMORGAN CHASE & CO is the largest holder with a position valued at $7.2B.
STATE COMMERCIAL BANKS
Country
United States of America
Overview
Overview of institutional ownership in XLF as of Q3 2025
All Institutions
- Institutions
- 1,783
- Value Held
- $39.4B
- Shares Held
- 731.8M
- Avg Position
- $22.1M
- Median Position
- $917.2K
Hedge Funds
- Hedge Funds
- 57
- Value Held
- $1.2B
- Shares Held
- 22.9M
- Avg Position
- $21.7M
- Median Position
- $4.6M
Biggest Investors
Institutions with the largest positions in XLF as of Q3 2025
| Institution | Position Value |
|---|---|
 JPMORGAN CHASE & CO Institution | $7.2B 0.46% of portfolio |
 BANK OF AMERICA CORP /DE/ Institution | $4.6B 0.34% of portfolio |
 MORGAN STANLEY RIA/Wealth | $2.6B 0.16% of portfolio |
 WELLS FARGO & COMPANY/MN Institution | $2.0B 0.42% of portfolio |
L LPL Financial LLC Institution | $1.3B 0.38% of portfolio |
 ENVESTNET ASSET MANAGEMENT INC Long Only Manager | $1.2B 0.35% of portfolio |
 GOLDMAN SACHS GROUP INC Institution | $1.1B 0.16% of portfolio |
 UBS Group AG Institution | $817.2M 0.16% of portfolio |
 AMERIPRISE FINANCIAL INC Institution | $767.4M 0.18% of portfolio |
 RAYMOND JAMES FINANCIAL INC RIA/Wealth | $729.2M 0.23% of portfolio |
Net Capital Flow
Institutional buying and selling activity for XLF in Q3 2025
- Traded
- +$4.2B
- Buyers
- 908
- Sellers
- 673
- Total Bought
- +$6.3B
- Total Sold
- −$2.0B
- Avg Position
- $20.8M
Biggest Buyers
| Institution | Net Bought |
|---|---|
JPMORGAN CHASE & CO Institution | +$1.0B +18.7M shares |
WELLS FARGO & COMPANY/MN Institution | +$676.6M +12.6M shares |
C Colony Group, LLC Institution | +$543.8M +10.1M shares |
 Green Harvest Asset Management LLC Long Only Manager | +$542.9M +10.1M shares |
 TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy | +$481.9M +8.9M shares |
GOLDMAN SACHS GROUP INC Institution | +$210.0M +3.9M shares |
ENVESTNET ASSET MANAGEMENT INC Long Only Manager | +$199.2M +3.7M shares |
L LPL Financial LLC Institution | +$176.2M +3.3M shares |
A Advisor Group Holdings, Inc. Institution | +$158.5M +2.9M shares |
MORGAN STANLEY RIA/Wealth | +$155.1M +2.9M shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
 CITIGROUP INC Institution | −$147.9M −2.7M shares |
 IMC-Chicago, LLC RIA/Wealth | −$144.4M −2.8M shares |
B BANCO BILBAO VIZCAYA ARGENTARIA, S.A. RIA/Wealth | −$140.9M −2.6M shares |
Q Qube Research & Technologies Ltd Institution | −$128.6M −2.4M shares |
 BANK OF NOVA SCOTIA / Institution | −$108.8M −2.0M shares |
H HSBC HOLDINGS PLC Institution | −$95.5M −1.8M shares |
P Phoenix Holdings Ltd. Institution | −$83.5M −1.6M shares |
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | −$61.8M −1.1M shares |
 THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager | −$52.3M −970.4K shares |
Q Quantitative Investment Management, LLC Hedge Fund•Quant Macro | −$51.7M −960.5K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited XLF in Q3 2025
- New Positions
- 59
- New Value
- $37.3M
- Exited Positions
- 107
- Exited Value
- $484.8M
New Positions
| Institution | Position Value |
|---|---|
 Sharp Financial Services, LLC RIA/Wealth | $6.9M 127.4K shares |
 SMI Advisory Services, LLC RIA/Wealth | $3.0M 55.4K shares |
B Brown Financial Advisors RIA/Wealth | $2.6M 48.5K shares |
 CAMPBELL CAPITAL MANAGEMENT INC RIA/Wealth | $2.3M 42.5K shares |
 MARSHALL INVESTMENT MANAGEMENT, LLC RIA/Wealth | $2.1M 38.8K shares |
 Maridea Wealth Management LLC RIA/Wealth | $2.1M 39.4K shares |
$1.9M 36.4K shares | |
C CAXTON ASSOCIATES LLP Institution | $1.5M 28.8K shares |
P Paladin Wealth, LLC Institution | $1.3M 23.6K shares |
 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC RIA/Wealth | $997.2K 18.5K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
IMC-Chicago, LLC RIA/Wealth | $144.4M 2.8M shares |
D Duquesne Family Office LLC Institution | $51.6M 985.3K shares |
 SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth | $47.0M 905.5K shares |
N Nan Shan Life Insurance Co., Ltd. Institution | $36.1M 689.3K shares |
S SIMPLEX TRADING, LLC Institution | $23.7M 453.3K shares |
 Wright Fund Managment, LLC Long Only Manager | $22.9M 460.4K shares |
B BW Gestao de Investimentos Ltda. Institution | $20.3M 387.4K shares |
U United Capital Management of KS, Inc. Institution | $15.5M 295.4K shares |
M Meiji Yasuda Life Insurance Co Institution | $11.4M 217.5K shares |
 Cullen Capital Management, LLC Long Only Manager | $9.7M 185.4K shares |
Options Activity
Institutions with the largest Call and Put options positions in XLF as of Q3 2025
- Call Positions
- 59
- Call Value
- $7.1B
- Put Positions
- 60
- Put Value
- $13.3B
Call Positions
| Institution | Position Value |
|---|---|
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $903.8M 167.8K contracts |
J JANE STREET GROUP, LLC Institution | $854.8M 158.7K contracts |
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage | $846.5M 157.1K contracts |
BANK OF AMERICA CORP /DE/ Institution | $735.8M 136.6K contracts |
 MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | $473.2M 87.8K contracts |
UBS Group AG Institution | $421.6M 78.3K contracts |
 BANK OF MONTREAL /CAN/ Institution | $372.9M 69.2K contracts |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $336.0M 62.4K contracts |
 BARCLAYS PLC Institution | $334.0M 62.0K contracts |
CITIGROUP INC Institution | $309.6M 57.5K contracts |
Put Positions
| Institution | Position Value |
|---|---|
BANK OF AMERICA CORP /DE/ Institution | $1.8B 328.0K contracts |
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | $1.6B 288.5K contracts |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $1.5B 278.6K contracts |
J JANE STREET GROUP, LLC Institution | $1.2B 223.1K contracts |
 BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | $1.1B 203.7K contracts |
GOLDMAN SACHS GROUP INC Institution | $705.7M 131.0K contracts |
UBS Group AG Institution | $606.4M 112.6K contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $580.1M 107.7K contracts |
R ROYAL BANK OF CANADA Institution | $516.8M 95.9K contracts |
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage | $433.5M 80.5K contracts |
Most Committed Institutions
Institutions with XLF as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
 TIFF ADVISORY SERVICES INC Fund of Funds | 24.43% $117.3M |
13.65% $13.7M | |
 Main Management ETF Advisors, LLC Institution | 12.16% $314.1M |
 IMZ Advisory Inc RIA/Wealth | 10.59% $28.4M |
Y Yelin Lapidot Holdings Management Ltd. Institution | 8.66% $41.3M |
L Lakeshore Financial Planning, Inc. RIA/Wealth | 8.48% $22.8M |
 PETREDIS INVESTMENT ADVISORS LLC RIA/Wealth | 8.40% $104.6M |
Green Harvest Asset Management LLC Long Only Manager | 8.31% $542.9M |
 Keystone Global Partners, LLC RIA/Wealth | 8.13% $14.4M |
 INNEALTA CAPITAL, LLC Long Only Manager | 7.91% $15.6M |
Hedge Fund Spotlight
Discover hedge funds investing in XLF
P
Polymer Capital Management LTD
Hedge Fund • Multi-Strategy
Portfolio ManagerEric Jay Kemnitz
- Portfolio Value
- $721.2M
- Positions
- 243
- Last Reported
- Q3 2025
Sector Allocation
Position in Financial Select Sector SPDR Fund
- Market Value
- $3.5M
- Shares Held
- 65.1K
- Portfolio Weight
- 0.49%
- Owned Since
- 2024-Q2
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Semiconductors Technology | $38.4M | 5.32% | |
Drug Manufacturers - General Healthcare | $36.6M | 5.07% | |
Internet Content & Information Communication Services | $25.9M | 3.59% |
