SPDR S&P Semiconductor ETF

XSD • ARCA

SPDR S&P Semiconductor ETF is an exchange-traded fund on ARCA. As of Q3 2025, 226 institutional investors hold shares in this ETF, with total holdings valued at $586.7M. MORGAN STANLEY is the largest holder with a position valued at $77.9M.

Overview

Overview of institutional ownership in XSD as of Q3 2025

All Institutions

Institutions: 226
Value Held: $586.7M
Shares Held: 1.9M
Avg Position: $2.6M
Median Position: $366.9K

Hedge Funds

Hedge Funds: 5
Value Held: $11.5M
Shares Held: 35.9K
Avg Position: $2.3M
Median Position: $670.2K

Biggest Investors

Institutions with the largest positions in XSD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$77.9M 0.00% of portfolio	244.0K shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
L LPL Financial LLC Institution	-	$74.2M 0.02% of portfolio	232.4K shares	Q2 2014 Held for 11y 5m	$340.07B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$27.2M 0.00% of portfolio	85.4K shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$25.8M 0.01% of portfolio	81.0K shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
PNC FINANCIAL SERVICES GROUP, INC. Institution	William S. Demchak CEO	$24.8M 0.02% of portfolio	77.6K shares	Q4 2014 Held for 10y 11m	$164.83B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$21.4M 0.00% of portfolio	67.1K shares	Q1 2016 Held for 9y 8m	$433.11B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$20.7M 0.00% of portfolio	64.8K shares	≤ Q2 2013 Held for 12y 5m+	$691.34B
UBS Group AG Institution	Sergio P. Ermotti CEO	$16.7M 0.00% of portfolio	52.4K shares	Q4 2014 Held for 10y 11m	$511.54B
B BNP PARIBAS ARBITRAGE, SA Institution	-	$16.1M 0.01% of portfolio	50.4K shares	Q2 2020 Held for 5y 5m	$126.06B
McGuire Investment Group, LLC RIA/Wealth	Dennis Patrick Mcguire Managing Partner	$13.3M 1.51% of portfolio	41.7K shares	Q3 2018 Held for 7y 2m	$882.6M

Net Capital Flow

Institutional buying and selling activity for XSD in Q3 2025

Traded: −$60.6M
Buyers: 88
Sellers: 99
Total Bought: +$37.8M
Total Sold: −$98.3M
Avg Position: $2.3M

Biggest Buyers

Institution	Net Bought	Current Position
L LPL Financial LLC Institution	+$5.6M +17.4K shares	$74.2M 232.4K shares
GOLDMAN SACHS GROUP INC Institution	+$4.6M +14.5K shares	$20.7M 64.8K shares
PFG Financial Advisors RIA/Wealth	+$3.6M +11.3K shares	$3.9M 12.1K shares
PNC FINANCIAL SERVICES GROUP, INC. Institution	+$3.3M +10.3K shares	$24.8M 77.6K shares
J JANE STREET GROUP, LLC Institution	+$2.2M +7.0K shares	$2.6M 8.2K shares
Janney Montgomery Scott LLC RIA/Wealth	+$1.7M +5.2K shares	$7.8M 24.5K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$1.6M +5.0K shares	$5.4M 17.0K shares
HPM Partners LLC RIA/Wealth	+$1.4M +4.2K shares	$1.4M 4.2K shares
WELLS FARGO & COMPANY/MN Institution	+$1.2M +3.8K shares	$25.8M 81.0K shares
Rockefeller Capital Management L.P. Long Only Manager	+$1.1M +3.6K shares	$1.1M 3.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
Kingsview Wealth Management, LLC RIA/Wealth	−$13.4M −41.9K shares	$1.8M 5.7K shares
CoreCap Advisors, LLC RIA/Wealth	−$12.5M −39.3K shares	$8.1M 25.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$9.7M −38.0K shares	Sold Off 0 shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$8.0M −25.2K shares	$16.1M 50.4K shares
Cetera Investment Advisers RIA/Wealth	−$6.1M −19.2K shares	$9.5M 29.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$4.2M −13.1K shares	$1.7M 5.3K shares
AMERIPRISE FINANCIAL INC Institution	−$4.1M −12.7K shares	$21.4M 67.1K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$3.8M −12.1K shares	$7.2M 22.5K shares
T Tower Research Capital LLC Institution	−$3.8M −12.0K shares	$683.2K 2.1K shares
UBS Group AG Institution	−$3.3M −10.2K shares	$16.7M 52.4K shares

Entry and Exit Activity

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

New Positions: 22
New Value: $5.1M
Exited Positions: 28
Exited Value: $19.6M

New Positions

Institution	Position Value
HPM Partners LLC RIA/Wealth	$1.4M 4.2K shares
Constant Guidance Financial LLC RIA/Wealth	$720.5K 13.1K shares
Mirae Asset Global Investments Co., Ltd. Long Only Manager	$622.3K 2.0K shares
BlueSky Wealth Advisors, LLC RIA/Wealth	$304.5K 954.0 shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$300.4K 941.0 shares
Key Client Fiduciary Advisors, LLC RIA/Wealth	$240.7K 754.0 shares
ZACKS INVESTMENT MANAGEMENT RIA/Wealth	$237.6K 744.0 shares
MONETA GROUP INVESTMENT ADVISORS LLC RIA/Wealth	$221.8K 695.0 shares
Joel Isaacson & Co., LLC RIA/Wealth	$216.7K 679.0 shares
Concurrent Investment Advisors, LLC RIA/Wealth	$209.9K 658.0 shares

Exited Positions

Institution	Previous Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$9.7M 38.0K shares
S SANDLER CAPITAL MANAGEMENT Hedge Fund•Long/Short	$2.3M 9.0K shares
Clark Capital Management Group, Inc. RIA/Wealth	$2.3M 8.9K shares
Fort Point Capital Partners, LLC Fund of Funds	$1.5M 5.8K shares
F FLOW TRADERS U.S. LLC Institution	$1.3M 5.3K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$658.2K 2.6K shares
Forum Financial Management, LP RIA/Wealth	$267.0K 1.0K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	$263.9K 1.0K shares
P PENNINGTON PARTNERS & CO., LLC Family Office	$240.4K 937.0 shares
PARK AVENUE SECURITIES LLC RIA/Wealth	$238.3K 929.0 shares

Options Activity

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

Call Positions: 6
Call Value: $21.8M
Put Positions: 5
Put Value: $6.0M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$16.9M 530.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.0M 94.0 contracts
J JANE STREET GROUP, LLC Institution	$925.4K 29.0 contracts
W WOLVERINE TRADING, LLC Institution	$790.2K 25.0 contracts
B Belvedere Trading LLC Institution	$191.5K 6.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.9M 122.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.1M 34.0 contracts
J JANE STREET GROUP, LLC Institution	$702.1K 22.0 contracts
W WOLVERINE TRADING, LLC Institution	$252.8K 8.0 contracts
B Belvedere Trading LLC Institution	$95.7K 3.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
M MGB Wealth Management, LLC RIA/Wealth	Michael Glen Bailey CCO	2.85% $10.1M	31.6K shares	Q4 2023 Held for 1y 11m	$354.0M
D Dale Q Rice Investment Management Ltd RIA/Wealth	Dale Quintin Rice Owner	2.36% $3.3M	9.7K shares	Q4 2024 Held for 11 months	$138.8M
Hobart Private Capital, LLC RIA/Wealth	Christopher Scott Hobart CEO	2.34% $11.2M	35.1K shares	Q1 2023 Held for 2y 8m	$477.7M
A Adams Wealth Management Institution	-	1.85% $8.2M	25.5K shares	Q1 2020 Held for 5y 8m	$440.7M
Beaumont Asset Management, L.L.C. RIA/Wealth	Francis Pierce Coker Managing Partner	1.82% $3.6M	11.3K shares	Q4 2019 Held for 5y 11m	$198.7M
C CacheTech Inc. Hedge Fund•Multi-Strategy	Patrick Cormac Murphy CEO	1.78% $8.4M	26.2K shares	Q2 2024 Held for 1y 5m	$468.6M
JMAC ENTERPRISES LLC RIA/Wealth	Robert Charles Macaulay Managing Partner	1.53% $7.8M	24.3K shares	Q4 2021 Held for 3y 11m	$505.6M
McGuire Investment Group, LLC RIA/Wealth	Dennis Patrick Mcguire Managing Partner	1.51% $13.3M	41.7K shares	Q3 2018 Held for 7y 2m	$882.6M
SFI Advisors, LLC RIA/Wealth	Stephen Gaetano Vicinelli President	0.76% $1.2M	3.6K shares	Q3 2022 Held for 3y 2m	$151.2M
HARBOR ADVISORY CORP /MA/ RIA/Wealth	John Joseph Degan President	0.71% $2.4M	7.5K shares	Q4 2022 Held for 2y 11m	$338.2M

Hedge Fund Spotlight

Discover hedge funds investing in XSD

CacheTech Inc.

Hedge Fund • Multi-Strategy

Portfolio ManagerPatrick Cormac Murphy

Portfolio Value: $468.6M
Positions: 193
Last Reported: Q3 2025

Sector Allocation

Position in SPDR S&P Semiconductor ETF

Market Value: $8.4M
Shares Held: 26.2K
Portfolio Weight: 1.78%
Owned Since: 2024-Q2

Top Holding	Sector	Market Value	Weight
1 SCHX Schwab U.S. Large-Cap ETF SCHX	ETF ETF	$59.7M	12.74%
2 Janus Henderson B-BBB CLO JBBB	ETF ETF	$32.7M	6.97%
3 iShares Core S&P 500 ETF IVV	ETF ETF	$28.7M	6.12%

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