State Street SPDR S&P Bank ETF
242 hedge funds and large institutions have $1.02B invested in State Street SPDR S&P Bank ETF in 2025 Q1 according to their latest regulatory filings, with 38 funds opening new positions, 75 increasing their positions, 61 reducing their positions, and 46 closing their positions.
400% more funds holding in top 10
Funds holding in top 10: 1 → 5 (+4)
23% more repeat investments, than reductions
Existing positions increased: 75 | Existing positions reduced: 61
5.73% more ownership
Funds ownership: 44.84% → 50.58% (+5.7%)
5% less funds holding
Funds holding: 256 → 242 (-14)
17% less first-time investments, than exits
New positions opened: 38 | Existing positions closed: 46
25% less capital invested
Capital invested by funds: $1.36B → $1.02B (-$344M)
52% less call options, than puts
Call options by funds: $86.5M | Put options by funds: $180M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
+$111M |
| 2 |
KI
Kapitalo Investimentos
Sao Paulo,
Brazil
|
+$26.8M |
| 3 |
Barclays
London,
United Kingdom
|
+$24.5M |
| 4 |
QC
Quadrature Capital
London,
United Kingdom
|
+$24.1M |
| 5 |
NFT
Nan Fung Trinity
Central, Hong Kong,
Hong Kong
|
+$21.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
-$119M |
| 2 |
HIIFS
Harel Insurance Investments & Financial Services
Ramat Gan,
Israel
|
-$64.9M |
| 3 |
Jane Street
New York
|
-$28.1M |
| 4 |
LJAC
L.J. Altfest & Co
New York
|
-$14.8M |
| 5 |
JFG
Jefferies Financial Group
New York
|
-$12.2M |
KBE Hedge Fund Activity: Q1 2025 in Review
242 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR S&P Bank ETF (KBE) for Q1 2025, worth a combined $1.02B — down 25% from $1.36B a quarter earlier.
Sellers outnumbered buyers: 46 funds closed out of KBE and 38 opened new positions — a net loss of 8 holders — while 61 trimmed existing stakes and 75 added.
The largest buyer was Two Sigma Investments, adding an estimated $111M. The largest seller was JP Morgan Chase, cutting an estimated $119M.
- 242 institutional investors held State Street SPDR S&P Bank ETF (KBE) as of Q1 2025, down from 256 in Q4 2024.
- Funds reported $1.02B of State Street SPDR S&P Bank ETF stock for Q1 2025, down 25% quarter-over-quarter.
- 38 funds opened new State Street SPDR S&P Bank ETF positions in Q1 2025 and 46 closed out, a net change of -8 holders.
- The largest State Street SPDR S&P Bank ETF buyer in Q1 2025 was Two Sigma Investments, an estimated $111M added.
- The largest State Street SPDR S&P Bank ETF seller in Q1 2025 was JP Morgan Chase, an estimated $119M sold.
Based on aggregated 13F filings for Q1 2025.