- Quarter end
- 30 Jun 2025
- the date the book describes
- Filed
- 18 Aug 2025
- latest of these filings; the earliest 13 Aug 2025
- Managers listing it
- 9
- at least, of 95 tracked, among listed positions
- Comparable managers
- 95
- filed both Q1 2025 and Q2 2025; 8 listed it in both
- Shares listed
- 28,590,597
- combined, among listed positions
- Reported value
- $1.5bn
- combined, at the quarter end
Among the 95 comparable managers: 6 buyers (opened or added shares) and 5 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.
Managers listing XLF in Q2 2025
Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q1 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.
9 of 9 holders
| Action | Filing | |||||
|---|---|---|---|---|---|---|
| D. E. Shaw & Co. | 15,617,702 | $818m | 0.58% | Added | +3,263,035 | 14 Aug 2025 (the filing on sec.gov) |
| Susquehanna International Group LLP | 5,180,520 | $271m | under 0.1% | Added | +978,039 | 14 Aug 2025 (the filing on sec.gov) |
| Balyasny Asset Management LLC | 3,041,856 | $159m | 0.24% | Trimmed | -775,698 | 14 Aug 2025 (the filing on sec.gov) |
| Two Sigma Investments LP | 1,869,070 | $98m | 0.17% | Added | n.a. | 14 Aug 2025 (the filing on sec.gov) |
| Janus Henderson Group Ltd | 1,302,361 | $68m | under 0.1% | Trimmed | -146,530 | 14 Aug 2025 (the filing on sec.gov) |
| Hudson Bay Capital Management LP | 900,000 | $47m | 0.16% | Added | +400,000 | 18 Aug 2025 (the filing on sec.gov) |
| Verition Fund Management LLC | 504,857 | $26m | 0.12% | Added | +79,877 | 14 Aug 2025 (the filing on sec.gov) |
| GAMCO Investors Inc | 155,975 | $8.2m | 0.08% | Trimmed | -1,400 | 13 Aug 2025 (the filing on sec.gov) |
| Moore Capital Management LP | 18,256 | $956k | under 0.1% | Added | +596 | 14 Aug 2025 (the filing on sec.gov) |
Largest increases and reductions, by shares
Q1 2025 to Q2 2025, among managers that listed it in both quarters or opened it.
Increases
- D. E. Shaw & Co.existing position · 15,617,702 shares now+3,263,035
- Susquehanna International Group LLPexisting position · 5,180,520 shares now+978,039
- Hudson Bay Capital Management LPexisting position · 900,000 shares now+400,000
- Verition Fund Management LLCexisting position · 504,857 shares now+79,877
- Moore Capital Management LPexisting position · 18,256 shares now+596
Reductions
- Balyasny Asset Management LLCexisting position · 3,041,856 shares now-775,698
- Janus Henderson Group Ltdexisting position · 1,302,361 shares now-146,530
- GAMCO Investors Incexisting position · 155,975 shares now-1,400
New positions and exits
At least these many: a manager is shown exiting only where its own filing shows the position gone.
New (0)
No new position among listed positions.
Exited (2)
- Brevan Howard Capital Management LPwas $7.5m
- Soros Fund Management LLCwas $611k
Ownership over time
Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
9 in Q3 2024 to 11 in Q2 2026
Tracked managers listing it, at least.
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q2 2013 | 8 | $596m | n.a. | n.a. |
| Q3 2013 | 5 | $485m | n.a. | n.a. |
| Q4 2013 | 8 | $750m | n.a. | n.a. |
| Q1 2014 | 7 | $922m | n.a. | n.a. |
| Q2 2014 | 6 | $1.0bn | n.a. | n.a. |
| Q3 2014 | 6 | $1.2bn | n.a. | n.a. |
| Q4 2014 | 8 | $1.3bn | n.a. | n.a. |
| Q1 2015 | 7 | $1.3bn | n.a. | n.a. |
| Q2 2015 | 6 | $1.2bn | n.a. | n.a. |
| Q3 2015 | 4 | $1.1bn | n.a. | n.a. |
| Q4 2015 | 6 | $1.2bn | n.a. | n.a. |
| Q1 2016 | 6 | $878m | n.a. | n.a. |
| Q2 2016 | 5 | $691m | n.a. | n.a. |
| Q3 2016 | 7 | $888m | n.a. | n.a. |
| Q4 2016 | 11 | $1.4bn | n.a. | n.a. |
| Q1 2017 | 8 | $665m | n.a. | n.a. |
| Q2 2017 | 8 | $889m | n.a. | n.a. |
| Q3 2017 | 8 | $690m | n.a. | n.a. |
| Q4 2017 | 11 | $1.1bn | n.a. | n.a. |
| Q1 2018 | 6 | $708m | n.a. | n.a. |
| Q2 2018 | 8 | $736m | n.a. | n.a. |
| Q3 2018 | 8 | $629m | n.a. | n.a. |
| Q4 2018 | 2 | $488m | n.a. | n.a. |
| Q1 2019 | 5 | $507m | n.a. | n.a. |
| Q2 2019 | 6 | $713m | n.a. | n.a. |
| Q3 2019 | 8 | $807m | n.a. | n.a. |
| Q4 2019 | 8 | $788m | n.a. | n.a. |
| Q1 2020 | 6 | $675m | n.a. | n.a. |
| Q2 2020 | 8 | $466m | n.a. | n.a. |
| Q3 2020 | 8 | $478m | n.a. | n.a. |
| Q4 2020 | 9 | $392m | n.a. | n.a. |
| Q1 2021 | 10 | $1.6bn | n.a. | n.a. |
| Q2 2021 | 8 | $826m | n.a. | n.a. |
| Q3 2021 | 6 | $360m | n.a. | n.a. |
| Q4 2021 | 7 | $367m | n.a. | n.a. |
| Q1 2022 | 10 | $651m | n.a. | n.a. |
| Q2 2022 | 8 | $528m | n.a. | n.a. |
| Q3 2022 | 7 | $759m | n.a. | n.a. |
| Q4 2022 | 10 | $434m | n.a. | n.a. |
| Q1 2023 | 13 | $554m | n.a. | n.a. |
| Q2 2023 | 12 | $342m | n.a. | n.a. |
| Q3 2023 | 9 | $561m | n.a. | n.a. |
| Q4 2023 | 10 | $1.1bn | 9 | 3 |
| Q1 2024 | 7 | $500m | 3 | 3 |
| Q2 2024 | 8 | $542m | 3 | 3 |
| Q3 2024 | 9 | $852m | 8 | 1 |
| Q4 2024 | 12 | $951m | 8 | 4 |
| Q1 2025 | 12 | $1.3bn | 5 | 5 |
| Q2 2025 | 9 | $1.5bn | 6 | 5 |
| Q3 2025 | 10 | $865m | 5 | 2 |
| Q4 2025 | 13 | $1.3bn | 16 | 13 |
| Q1 2026 | 12 | $1.3bn | 11 | 20 |
| Q2 2026 | 11 | $1.0bn | 15 | 14 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.
Which funds own XLF, latest filings →Back to the 13F Explorer →