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Cboe Global Markets
CBOE

806 hedge funds and large institutions have $20.9B invested in Cboe Global Markets in 2025 Q1 according to their latest regulatory filings, with 123 funds opening new positions, 280 increasing their positions, 288 reducing their positions, and 83 closing their positions.

New
Increased
Maintained
Reduced
Closed

209% more call options, than puts

Call options by funds: $286M | Put options by funds: $92.4M

50% more funds holding in top 10

Funds holding in top 10: 8 → 12 (+4)

48% more first-time investments, than exits

New positions opened: 123 | Existing positions closed: 83

19% more capital invested

Capital invested by funds: $17.6B → $20.9B (+$3.33B)

4% more funds holding

Funds holding: 778 → 806 (+28)

2.38% more ownership

Funds ownership: 85.8% → 88.19% (+2.4%)

3% less repeat investments, than reductions

Existing positions increased: 280 | Existing positions reduced: 288

Holders
806
Holders Change
+28
Holders Change %
+3.6%
% of All Funds
10.81%
Holding in Top 10
12
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+50%
% of All Funds
0.16%
New
123
Increased
280
Reduced
288
Closed
83
Calls
$286M
Puts
$92.4M
Net Calls
+$193M
Net Calls Change
+$22.7M

Top Buyers

1
AllianceBernstein
AllianceBernstein
Tennessee
+$369M
2
UBS AM
UBS AM
Illinois
+$177M
3
Marshall Wace
Marshall Wace
United Kingdom
+$152M
4
UBS Group
UBS Group
Switzerland
+$67.9M
5
PL
Perpetual Ltd
Australia
+$61.4M

Top Sellers

1
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
-$95.1M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$80.4M
3
CCMG
Clark Capital Management Group
Pennsylvania
-$43.1M
4
PI
PineBridge Investments
New York
-$40.2M
5
Goldman Sachs
Goldman Sachs
New York
-$34.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
A
451
AlphaQuest
New York
$878K +$256K +1,232 +47%
KeyBank National Association
452
KeyBank National Association
Ohio
$876K -$107K -514 -12%
TMAM
453
Tokio Marine Asset Management
Japan
$874K +$9.96K +48 +1%
BMSSC
454
B. Metzler seel. Sohn & Co
Germany
$862K +$245K +1,181 +45%
OAC
455
OMERS Administration Corp
Ontario, Canada
$855K -$131K -633 -14%
CCS
456
Concentric Capital Strategies
Connecticut
$849K +$779K +3,754 New
CPIG
457
Chicago Partners Investment Group
Illinois
$847K -$327K -1,578 -30%
EF
458
Empirical Finance
Pennsylvania
$845K +$26.1K +126 +3%
MPAM
459
Murphy Pohlad Asset Management
Minnesota
$841K – – –
SSA
460
Sierra Summit Advisors
Nevada
$838K – – –
KAS
461
Kestra Advisory Services
Texas
$824K -$20.1K -97 -3%
SIA
462
Schechter Investment Advisors
Michigan
$812K -$35.1K -169 -4%
AC
463
Allstate Corporation
Illinois
$809K +$109K +525 +17%
AG
464
Ascent Group
Virginia
$800K +$60.4K +291 +9%
ZBNA
465
Zions Bancorporation, National Association
Utah
$799K +$732K +3,530 New
OL
466
one8zero8 LLC
North Carolina
$792K – – –
Fifth Third Bancorp
467
Fifth Third Bancorp
Ohio
$789K +$145K +700 +25%
WJWM
468
Williams Jones Wealth Management
New York
$788K – – –
DADC
469
D.A. Davidson & Co
Montana
$777K +$274K +1,320 +62%
AV
470
Alamea Verwaltungs
New Jersey
$758K +$694K +3,348 New
NMIMC
471
Northwestern Mutual Investment Management Company
Wisconsin
$754K +$1.25K +6 +0.2%
VWM
472
Venturi Wealth Management
Texas
$750K +$1.25K +6 +0.2%
KFS
473
Keynote Financial Services
Connecticut
$747K – – –
Nomura Holdings
474
Nomura Holdings
Japan
$745K -$2.55M -12,274 -79%
WorldQuant Millennium Advisors
475
WorldQuant Millennium Advisors
New York
$741K +$342K +1,647 +101%
17 18
19
20 21

CBOE Hedge Fund Activity: Q1 2025 in Review

806 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Cboe Global Markets (CBOE) for Q1 2025, worth a combined $20.9B — up 19% from $17.6B a quarter earlier.

Buyers outnumbered sellers: 123 funds opened new CBOE positions and 83 closed out — a net gain of 40 holders — while 280 added to existing stakes and 288 trimmed.

The largest buyer was AllianceBernstein, adding an estimated $369M. The largest seller was Massachusetts Financial Services, cutting an estimated $95.1M.

  • 806 institutional investors held Cboe Global Markets (CBOE) as of Q1 2025, up from 778 in Q4 2024.
  • Funds reported $20.9B of Cboe Global Markets stock for Q1 2025, up 19% quarter-over-quarter.
  • 123 funds opened new Cboe Global Markets positions in Q1 2025 and 83 closed out, a net change of +40 holders.
  • The largest Cboe Global Markets buyer in Q1 2025 was AllianceBernstein, an estimated $369M added.
  • The largest Cboe Global Markets seller in Q1 2025 was Massachusetts Financial Services, an estimated $95.1M sold.

Based on aggregated 13F filings for Q1 2025.