Industrial Select Sector SPDR Fund

XLI • ARCA

Industrial Select Sector SPDR Fund is an exchange-traded fund on ARCA. As of Q3 2025, 1,384 institutional investors hold shares in this ETF, with total holdings valued at $21.2B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $1.7B.

Overview

Overview of institutional ownership in XLI as of Q3 2025

All Institutions

Institutions: 1,384
Value Held: $21.2B
Shares Held: 137.4M
Avg Position: $15.3M
Median Position: $761.6K

Hedge Funds

Hedge Funds: 40
Value Held: $335.1M
Shares Held: 2.2M
Avg Position: $8.4M
Median Position: $2.4M

Biggest Investors

Institutions with the largest positions in XLI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$1.7B 0.13% of portfolio	11.3M shares	≤ Q2 2013 Held for 12y 6m+	$1.33T
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$1.6B 0.10% of portfolio	10.5M shares	≤ Q2 2013 Held for 12y 6m+	$1.56T
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$1.5B 0.22% of portfolio	10.0M shares	≤ Q2 2013 Held for 12y 6m+	$691.37B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$1.4B 0.08% of portfolio	9.0M shares	≤ Q2 2013 Held for 12y 6m+	$1.65T
CITIGROUP INC Institution	Jane Fraser CEO	$1.0B 0.70% of portfolio	6.5M shares	≤ Q2 2013 Held for 12y 6m+	$144.32B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$774.5M 0.16% of portfolio	5.0M shares	≤ Q2 2013 Held for 12y 6m+	$488.52B
L LPL Financial LLC Institution	-	$742.6M 0.22% of portfolio	4.8M shares	≤ Q2 2013 Held for 12y 6m+	$340.07B
UBS Group AG Institution	Sergio P. Ermotti CEO	$613.0M 0.12% of portfolio	4.0M shares	Q4 2014 Held for 11 years	$511.60B
M Migdal Insurance & Financial Holdings Ltd. Institution	-	$556.1M 7.06% of portfolio	3.6M shares	Q4 2015 Held for 10 years	$7.9B
MENORA MIVTACHIM HOLDINGS LTD. Private Equity	Edward Joseph Keefe CFO	$544.3M 2.76% of portfolio	3.5M shares	Q2 2023 Held for 2y 6m	$19.7B

Net Capital Flow

Institutional buying and selling activity for XLI in Q3 2025

Traded: +$1.2B
Buyers: 665
Sellers: 529
Total Bought: +$2.8B
Total Sold: −$1.6B
Avg Position: $14.5M

Biggest Buyers

Institution	Net Bought	Current Position
C Colony Group, LLC Institution	+$285.0M +1.8M shares	$319.9M 2.1M shares
GOLDMAN SACHS GROUP INC Institution	+$253.2M +1.6M shares	$1.5B 10.0M shares
MENORA MIVTACHIM HOLDINGS LTD. Private Equity	+$185.1M +1.2M shares	$544.3M 3.5M shares
Green Harvest Asset Management LLC Long Only Manager	+$183.8M +1.2M shares	$183.8M 1.2M shares
CITIGROUP INC Institution	+$168.9M +1.1M shares	$1.0B 6.5M shares
BANK OF MONTREAL /CAN/ Institution	+$157.7M +1.0M shares	$208.7M 1.4M shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	+$154.2M +1.0M shares	$478.1M 3.1M shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$121.9M +790.2K shares	$459.3M 3.0M shares
E Employees Retirement System of Texas Institution	+$97.3M +631.0K shares	$97.3M 631.0K shares
L LPL Financial LLC Institution	+$85.8M +556.4K shares	$742.6M 4.8M shares

Biggest Sellers

Institution	Net Sold	Current Position
BANK OF AMERICA CORP /DE/ Institution	−$309.3M −2.0M shares	$1.7B 11.3M shares
MORGAN STANLEY RIA/Wealth	−$257.6M −1.7M shares	$1.4B 9.0M shares
P Phoenix Holdings Ltd. Institution	−$142.5M −924.1K shares	$234.5M 1.5M shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$135.9M −881.5K shares	$521.7M 3.4M shares
I ING GROEP NV Institution	−$52.4M −339.8K shares	$218.9M 1.4M shares
AMERIPRISE FINANCIAL INC Institution	−$50.3M −326.1K shares	$414.3M 2.7M shares
J Jump Financial, LLC Institution	−$46.9M −317.7K shares	Sold Off 0 shares
BlackRock, Inc. Institution	−$42.3M −274.1K shares	$59.4M 385.0K shares
UBS Group AG Institution	−$41.9M −271.7K shares	$613.0M 4.0M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$30.5M −206.6K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited XLI in Q3 2025

New Positions: 49
New Value: $216.4M
Exited Positions: 77
Exited Value: $219.1M

New Positions

Institution	Position Value
E Employees Retirement System of Texas Institution	$97.3M 631.0K shares
B BRITISH COLUMBIA INVESTMENT MANAGEMENT CORP RIA/Wealth	$60.3M 391.0K shares
Summit Trail Advisors, LLC RIA/Wealth	$17.2M 111.5K shares
CAPSTONE WEALTH MANAGEMENT GROUP, LLC RIA/Wealth	$6.5M 41.8K shares
Guerra Advisors Inc RIA/Wealth	$5.0M 32.6K shares
Audent Global Asset Management, LLC Hedge Fund•Multi-Strategy	$3.5M 23.0K shares
V Volterra Technologies LP Hedge Fund•Quant	$2.7M 17.7K shares
Maridea Wealth Management LLC RIA/Wealth	$2.5M 16.0K shares
Hansen & Associates Financial Group, Inc. RIA/Wealth	$2.4M 15.5K shares
MARSHALL INVESTMENT MANAGEMENT, LLC RIA/Wealth	$1.7M 10.7K shares

Exited Positions

Institution	Previous Position
J Jump Financial, LLC Institution	$46.9M 317.7K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$30.5M 206.6K shares
S SIMPLEX TRADING, LLC Institution	$14.4M 97.3K shares
1248 Management, LLC Fund of Funds	$10.5M 71.4K shares
P PRUDENTIAL PLC Institution	$10.0M 67.8K shares
M Meiji Yasuda Life Insurance Co Institution	$8.5M 57.6K shares
Oversea-Chinese Banking CORP Ltd Real Assets	$8.2M 55.4K shares
B BlueStem Wealth Partners, LLC RIA/Wealth	$7.0M 47.5K shares
Strategic Equity Management RIA/Wealth	$6.8M 46.2K shares
S SIH Partners, LLLP Institution	$6.4M 43.3K shares

Options Activity

Institutions with the largest Call and Put options positions in XLI as of Q3 2025

Call Positions: 34
Call Value: $5.6B
Put Positions: 50
Put Value: $5.1B

Call Positions

Institution	Position Value
L LMR Partners LLP Institution	$3.1B 200.0K contracts
CITIGROUP INC Institution	$781.4M 50.7K contracts
Gates Capital Management, Inc. Hedge Fund•Event Driven	$771.2M 50.0K contracts
UBS Group AG Institution	$227.0M 14.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$183.4M 11.9K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$154.5M 10.0K contracts
W WOLVERINE TRADING, LLC Institution	$105.3M 6.9K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$77.1M 5.0K contracts
J JANE STREET GROUP, LLC Institution	$55.7M 3.6K contracts
P PEAK6 LLC Institution	$51.0M 3.3K contracts

Put Positions

Institution	Position Value
CITIGROUP INC Institution	$1.3B 82.8K contracts
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	$1.2B 75.0K contracts
Gates Capital Management, Inc. Hedge Fund•Event Driven	$1.0B 65.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$324.8M 21.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$195.9M 12.7K contracts
UBS Group AG Institution	$163.8M 10.6K contracts
Jain Global LLC Hedge Fund•Multi-Strategy	$134.4M 8.7K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$119.5M 7.7K contracts
J JANE STREET GROUP, LLC Institution	$111.3M 7.2K contracts
W WOLVERINE TRADING, LLC Institution	$102.8M 6.7K contracts

Most Committed Institutions

Institutions with XLI as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Biltmore Wealth Management, LLC RIA/Wealth	Timothy Alan Carpenter Managing Partner	13.40% $35.1M	227.7K shares	Q4 2014 Held for 11 years	$262.0M
P Perbak Capital Partners LLP Institution	-	12.14% $69.0M	447.2K shares	Q2 2024 Held for 1y 6m	$568.0M
CABANA LLC RIA/Wealth	George Chaddwick Mason CEO	11.99% $2.0M	12.7K shares	Q2 2025 Held for 6 months	$16.4M
BREAKTHRU ADVISORY SERVICES, LLC RIA/Wealth	Jerald Matthew Jendusa Managing Partner	9.82% $12.8M	83.3K shares	Q4 2024 Held for 1 year	$130.8M
Bellwether Advisors, LLC RIA/Wealth	Leila Mehrizi Shaver CCO	7.61% $46.1M	298.6K shares	Q4 2022 Held for 3 years	$604.9M
M Migdal Insurance & Financial Holdings Ltd. Institution	-	7.06% $556.1M	3.6M shares	Q4 2015 Held for 10 years	$7.9B
Rye Brook Capital LLC Hedge Fund•Long/Short	Carlos Gustavo Ribeiro Fernandes Managing Partner	6.97% $6.3M	40.7K shares	Q4 2024 Held for 1 year	$90.1M
Concord Investment Counsel Inc. RIA/Wealth	Mitchell Anthony Pletcher President	6.94% $21.9M	141.7K shares	Q3 2025 Held for 3 months	$315.0M
INNEALTA CAPITAL, LLC Long Only Manager	Vito Antonio Sciaraffia CIO	6.70% $13.2M	85.4K shares	Q3 2020 Held for 5y 3m	$196.6M
IMZ Advisory Inc RIA/Wealth	Irwin Michael Zagoria CEO	6.68% $17.9M	116.4K shares	Q4 2023 Held for 2 years	$268.6M

Hedge Fund Spotlight

Discover hedge funds investing in XLI

Parallax Volatility Advisers, LLC

Hedge Fund • Vol Arbitrage

Portfolio ManagerWilliam Frederick Bartlett

Portfolio Value: $3.0B
Positions: 449
Last Reported: Q3 2025

Sector Allocation

Position in Industrial Select Sector SPDR Fund

Market Value: $3.5M
Shares Held: 22.5K
Portfolio Weight: 0.12%
Owned Since: 2022-Q3

Top Holding	Sector	Market Value	Weight
1 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$209.6M	7.10%
2 GLD SPDR Gold Trust GLD	Unknown Unknown	$194.8M	6.60%
3 Nvidia NVDA	Semiconductors Technology	$134.6M	4.56%

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