SPDR S&P Metals & Mining

XME • ARCA

SPDR S&P Metals & Mining is an exchange-traded fund on ARCA. As of Q3 2025, 308 institutional investors hold shares in this ETF, with total holdings valued at $2.1B. MORGAN STANLEY is the largest holder with a position valued at $236.0M.

Overview

Overview of institutional ownership in XME as of Q3 2025

All Institutions

Institutions: 308
Value Held: $2.1B
Shares Held: 22.5M
Avg Position: $6.8M
Median Position: $660.3K

Hedge Funds

Hedge Funds: 23
Value Held: $60.2M
Shares Held: 646.4K
Avg Position: $2.6M
Median Position: $978.5K

Biggest Investors

Institutions with the largest positions in XME as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$236.0M 0.01% of portfolio	2.5M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
MENORA MIVTACHIM HOLDINGS LTD. Private Equity	Edward Joseph Keefe CFO	$214.7M 1.09% of portfolio	2.3M shares	Q1 2025 Held for 8 months	$19.7B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$174.2M 0.01% of portfolio	1.9M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$111.7M 0.02% of portfolio	1.2M shares	≤ Q2 2013 Held for 12y 5m+	$691.34B
B BNP PARIBAS ARBITRAGE, SA Institution	-	$100.7M 0.08% of portfolio	1.1M shares	≤ Q2 2013 Held for 12y 5m+	$126.06B
V Vanderbilt University Institution	-	$90.6M 15.04% of portfolio	972.4K shares	Q3 2019 Held for 6y 2m	$602.3M
H Harel Insurance Investments & Financial Services Ltd. Institution	-	$85.9M 0.87% of portfolio	921.5K shares	Q1 2022 Held for 3y 8m	$9.8B
BARCLAYS PLC Institution	-	$76.1M 0.03% of portfolio	816.2K shares	≤ Q2 2013 Held for 12y 5m+	$271.65B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$75.1M 0.02% of portfolio	806.3K shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
N NATIXIS Institution	-	$75.0M 0.41% of portfolio	804.7K shares	Q4 2022 Held for 2y 11m	$18.4B

Net Capital Flow

Institutional buying and selling activity for XME in Q3 2025

Traded: −$12.8M
Buyers: 171
Sellers: 104
Total Bought: +$463.4M
Total Sold: −$476.2M
Avg Position: $6.3M

Biggest Buyers

Institution	Net Bought	Current Position
B BNP PARIBAS ARBITRAGE, SA Institution	+$81.9M +879.3K shares	$100.7M 1.1M shares
WELLS FARGO & COMPANY/MN Institution	+$54.2M +581.6K shares	$75.1M 806.3K shares
MORGAN STANLEY RIA/Wealth	+$37.7M +404.7K shares	$236.0M 2.5M shares
CITIGROUP INC Institution	+$29.1M +311.9K shares	$45.3M 485.9K shares
Toroso Investments, LLC ETF Provider	+$19.3M +207.6K shares	$19.3M 207.6K shares
BANK OF NOVA SCOTIA / Institution	+$18.5M +198.2K shares	$18.8M 202.1K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$13.6M +146.3K shares	$16.0M 172.0K shares
POTOMAC FUND MANAGEMENT INC /ADV Long Only Manager	+$12.3M +132.1K shares	$12.3M 132.1K shares
UBS Group AG Institution	+$11.9M +127.6K shares	$28.7M 307.7K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$11.6M +124.1K shares	$11.6M 124.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
JPMORGAN CHASE & CO Institution	−$151.1M −1.6M shares	$31.5M 338.4K shares
C Clal Insurance Enterprises Holdings Ltd Institution	−$67.2M −1.0M shares	Sold Off 0 shares
BARCLAYS PLC Institution	−$50.8M −544.8K shares	$76.1M 816.2K shares
MENORA MIVTACHIM HOLDINGS LTD. Private Equity	−$45.6M −489.5K shares	$214.7M 2.3M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$40.3M −600.0K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$38.9M −417.9K shares	$174.2M 1.9M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$7.9M −85.1K shares	$1.8M 19.2K shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$7.7M −114.2K shares	Sold Off 0 shares
Decker Retirement Planning Inc. RIA/Wealth	−$7.1M −76.5K shares	$4.5M 47.8K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	−$4.7M −50.0K shares	$3.7M 40.0K shares

Entry and Exit Activity

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

New Positions: 30
New Value: $37.2M
Exited Positions: 24
Exited Value: $134.1M

New Positions

Institution	Position Value
POTOMAC FUND MANAGEMENT INC /ADV Long Only Manager	$12.3M 132.1K shares
Financially Speaking Inc RIA/Wealth	$6.5M 70.3K shares
C CAXTON ASSOCIATES LLP Institution	$5.2M 55.4K shares
Beacon Pointe Advisors, LLC RIA/Wealth	$3.0M 32.1K shares
Atom Investors LP Hedge Fund•Market Neutral	$2.1M 22.1K shares
B Bright Futures Wealth Management, LLC. RIA/Wealth	$1.2M 12.9K shares
WESPAC Advisors, LLC RIA/Wealth	$845.4K 9.1K shares
PARK AVENUE SECURITIES LLC RIA/Wealth	$781.4K 8.4K shares
S SIH Partners, LLLP Institution	$691.7K 7.4K shares
Berman McAleer LLC RIA/Wealth	$629.0K 6.8K shares

Exited Positions

Institution	Previous Position
C Clal Insurance Enterprises Holdings Ltd Institution	$67.2M 1.0M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$40.3M 600.0K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$7.7M 114.2K shares
W WOLVERINE TRADING, LLC Institution	$3.6M 53.5K shares
Caption Management, LLC Hedge Fund•Long/Short	$2.6M 38.8K shares
Empowered Funds, LLC ETF Provider	$2.5M 37.0K shares
HITE Hedge Asset Management LLC Hedge Fund•Long/Short	$2.4M 35.7K shares
A ASB Consultores, LLC RIA/Wealth	$2.4M 35.1K shares
Y Y-Intercept Ltd Institution	$1.5M 21.8K shares
Everstar Asset Management, LLC Hedge Fund•Multi-Strategy	$875.3K 13.0K shares

Options Activity

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

Call Positions: 22
Call Value: $401.0M
Put Positions: 24
Put Value: $859.4M

Call Positions

Institution	Position Value
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$98.3M 10.5K contracts
UBS Group AG Institution	$57.2M 6.1K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$47.3M 5.1K contracts
BARCLAYS PLC Institution	$34.5M 3.7K contracts
P PEAK6 LLC Institution	$34.1M 3.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$24.7M 2.7K contracts
J JANE STREET GROUP, LLC Institution	$21.4M 2.3K contracts
V Volterra Technologies LP Hedge Fund•Quant	$19.0M 2.0K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$14.5M 1.6K contracts
Caption Management, LLC Hedge Fund•Long/Short	$9.3M 1.0K contracts

Put Positions

Institution	Position Value
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	$130.5M 14.0K contracts
BARCLAYS PLC Institution	$103.9M 11.1K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$100.1M 10.7K contracts
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$98.3M 10.5K contracts
BANK OF AMERICA CORP /DE/ Institution	$96.3M 10.3K contracts
S SCOPUS ASSET MANAGEMENT, L.P. Hedge Fund•Long/Short	$74.6M 8.0K contracts
J JANE STREET GROUP, LLC Institution	$63.3M 6.8K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$55.0M 5.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$34.7M 3.7K contracts
R RPO LLC Hedge Fund•Multi-Strategy	$22.0M 2.4K contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
V Vanderbilt University Institution	-	15.04% $90.6M	972.4K shares	Q3 2019 Held for 6y 2m	$602.3M
V Volterra Technologies LP Hedge Fund•Quant	Joshua Joseph Segal Managing Partner	12.59% $19.0M	203.8K shares	Q2 2025 Held for 5 months	$150.8M
Legend Financial Advisors, Inc. RIA/Wealth	James Jude Holtzman CEO	6.17% $10.1M	108.0K shares	Q2 2021 Held for 4y 5m	$163.1M
Financially Speaking Inc RIA/Wealth	Philip Henry Luccock President	6.01% $6.5M	70.3K shares	Q3 2025 Held for 2 months	$109.0M
HERBST GROUP, LLC RIA/Wealth	Brian Gabbe Herbst CEO	3.59% $5.7M	61.4K shares	Q4 2021 Held for 3y 11m	$159.1M
FOCUS Wealth Advisors, LLC RIA/Wealth	Mark Andrew Frugoni Managing Partner	3.43% $7.1M	76.6K shares	Q2 2021 Held for 4y 5m	$208.1M
FORTEM FINANCIAL GROUP, LLC RIA/Wealth	Brian Paul Amidei CEO	2.86% $10.0M	106.9K shares	Q1 2022 Held for 3y 8m	$348.2M
Ted Buchan & Co RIA/Wealth	Edward John Buchan President	2.66% $6.8M	72.8K shares	Q4 2022 Held for 2y 11m	$255.3M
E EHP Funds Inc. Institution	-	2.58% $1.9M	20.1K shares	Q3 2023 Held for 2y 2m	$72.6M
Decker Retirement Planning Inc. RIA/Wealth	Brian James Decker President	2.46% $4.5M	47.8K shares	Q4 2024 Held for 11 months	$180.7M

Hedge Fund Spotlight

Discover hedge funds investing in XME

Black Maple Capital Management LP

Hedge Fund • Multi-Strategy

Portfolio ManagerRobert James Barnard

Portfolio Value: $138.0M
Positions: 76
Last Reported: Q3 2025

Sector Allocation

Position in SPDR S&P Metals & Mining

Market Value: $978.5K
Shares Held: 10.5K
Portfolio Weight: 0.71%
Owned Since: 2022-Q4

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$28.2M	20.41%
2 Antero Resources AR	Oil & Gas Exploration & Production Energy	$11.6M	8.43%
3 Pinnacle Financial Partners PNFP	Banks - Regional Financial Services	$7.5M	5.41%