L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 5 Feb 2026
Managers listing it
28
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 9 listed it in both
Shares listed
31,427,715
combined, among listed positions
Reported value
$1.7bn
combined, at the quarter end

Among the 92 comparable managers: 16 buyers (opened or added shares) and 13 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +3,010,974.

Managers listing XLF in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

28 of 28 holders

ActionFiling
Jane Street Group LLC8,295,877$454m0.07%Added+7,343,54612 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)4,324,793$237munder 0.1%Trimmed-36,09617 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP4,287,688$235munder 0.1%Added+255,04417 Feb 2026 (the filing on sec.gov)
Millennium Management LLC4,093,451$224m0.09%Added+2,071,72117 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC2,184,158$120m0.13%Added+2,047,40713 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,448,372$79munder 0.1%Added+1,423,22117 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC1,319,810$72m0.11%Added+1,230,40012 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC941,523$52m0.07%Added+704,20417 Feb 2026 (the filing on sec.gov)
Hudson Bay Capital Management LP825,000$45m0.15%Trimmed-75,00013 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP551,330$30munder 0.1%Trimmed-10,262,77017 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd473,330$26munder 0.1%Trimmed-449,40117 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp449,374$25munder 0.1%Added+355,87117 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP418,400$23munder 0.1%Added+63,12017 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC369,264$20m0.08%Added+41,37313 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC356,081$20munder 0.1%Added+228,42017 Feb 2026 (the filing on sec.gov)
Soros Fund Management LLC312,270$17m0.20%Newnew13 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.169,688$9.3munder 0.1%Trimmed-562,21217 Feb 2026 (the filing on sec.gov)
GAMCO Investors Inc154,075$8.4m0.08%Trimmed-1,9005 Feb 2026 (the filing on sec.gov)
Freestone Grove Partners LP116,766$6.4munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP115,909$6.3munder 0.1%Trimmed-682,66913 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC88,415$4.8munder 0.1%Trimmed-2,07813 Feb 2026 (the filing on sec.gov)
Man Group PLC56,831$3.1munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC27,355$1.5munder 0.1%Added+1,98627 Oct 2026 (the filing on sec.gov)
AllianceBernstein LP21,027$1.2munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Caxton Associates LLP15,420$845kunder 0.1%Trimmed-13,34813 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

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.

0510152014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
XLF by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20138$596mn.a.n.a.
Q3 20135$485mn.a.n.a.
Q4 20138$750mn.a.n.a.
Q1 20147$922mn.a.n.a.
Q2 20146$1.0bnn.a.n.a.
Q3 20146$1.2bnn.a.n.a.
Q4 20148$1.3bnn.a.n.a.
Q1 20157$1.3bnn.a.n.a.
Q2 20156$1.2bnn.a.n.a.
Q3 20154$1.1bnn.a.n.a.
Q4 20156$1.2bnn.a.n.a.
Q1 20166$878mn.a.n.a.
Q2 20165$691mn.a.n.a.
Q3 20167$888mn.a.n.a.
Q4 201611$1.4bnn.a.n.a.
Q1 20178$665mn.a.n.a.
Q2 20178$889mn.a.n.a.
Q3 20178$690mn.a.n.a.
Q4 201711$1.1bnn.a.n.a.
Q1 20186$708mn.a.n.a.
Q2 20188$736mn.a.n.a.
Q3 20188$629mn.a.n.a.
Q4 20182$488mn.a.n.a.
Q1 20195$507mn.a.n.a.
Q2 20196$713mn.a.n.a.
Q3 20198$807mn.a.n.a.
Q4 20198$788mn.a.n.a.
Q1 20206$675mn.a.n.a.
Q2 20208$466mn.a.n.a.
Q3 20208$478mn.a.n.a.
Q4 20209$392mn.a.n.a.
Q1 202110$1.6bnn.a.n.a.
Q2 20218$826mn.a.n.a.
Q3 20216$360mn.a.n.a.
Q4 20217$367mn.a.n.a.
Q1 202210$651mn.a.n.a.
Q2 20228$528mn.a.n.a.
Q3 20227$759mn.a.n.a.
Q4 202210$434mn.a.n.a.
Q1 202313$554mn.a.n.a.
Q2 202312$342mn.a.n.a.
Q3 20239$561mn.a.n.a.
Q4 202310$1.1bn93
Q1 20247$500m33
Q2 20248$542m33
Q3 20249$852m81
Q4 202412$951m84
Q1 202512$1.3bn55
Q2 20259$1.5bn65
Q3 202510$865m52
Q4 202513$1.3bn1613
Q1 202612$1.3bn1120
Q2 202611$1.0bn1514

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

Choose a stock to compare with XLF →

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 →