State Street SPDR S&P Biotech ETF
625 hedge funds and large institutions have $10.7B invested in State Street SPDR S&P Biotech ETF in 2025 Q2 according to their latest regulatory filings, with 54 funds opening new positions, 162 increasing their positions, 275 reducing their positions, and 103 closing their positions.
19.7% more ownership
Funds ownership: 180.5% → 200.2% (+20%)
16% more capital invested
Capital invested by funds: $9.23B → $10.7B (+$1.52B)
0% more funds holding in top 10
Funds holding in top 10: 15 → 15 (0)
8% less funds holding
Funds holding: 682 → 625 (-57)
35% less call options, than puts
Call options by funds: $1.47B | Put options by funds: $2.24B
41% less repeat investments, than reductions
Existing positions increased: 162 | Existing positions reduced: 275
48% less first-time investments, than exits
New positions opened: 54 | Existing positions closed: 103
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$399M |
| 2 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
+$291M |
| 3 |
Citigroup
New York
|
+$182M |
| 4 |
BC
Broadwater Capital
Boston,
Massachusetts
|
+$80.4M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$59.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DFG
Demars Financial Group
Spokane Valley,
Washington
|
-$248M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$246M |
| 3 |
BNP Paribas Financial Markets
Paris,
France
|
-$199M |
| 4 |
HIIFS
Harel Insurance Investments & Financial Services
Ramat Gan,
Israel
|
-$48.7M |
| 5 |
Squarepoint
New York
|
-$38.6M |
XBI Hedge Fund Activity: Q2 2025 in Review
625 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR S&P Biotech ETF (XBI) for Q2 2025, worth a combined $10.7B — up 16% from $9.23B a quarter earlier.
Sellers outnumbered buyers: 103 funds closed out of XBI and 54 opened new positions — a net loss of 49 holders — while 275 trimmed existing stakes and 162 added.
The largest buyer was Goldman Sachs, adding an estimated $399M. The largest seller was Demars Financial Group, cutting an estimated $248M.
- 625 institutional investors held State Street SPDR S&P Biotech ETF (XBI) as of Q2 2025, down from 682 in Q1 2025.
- Funds reported $10.7B of State Street SPDR S&P Biotech ETF stock for Q2 2025, up 16% quarter-over-quarter.
- 54 funds opened new State Street SPDR S&P Biotech ETF positions in Q2 2025 and 103 closed out, a net change of -49 holders.
- The largest State Street SPDR S&P Biotech ETF buyer in Q2 2025 was Goldman Sachs, an estimated $399M added.
- The largest State Street SPDR S&P Biotech ETF seller in Q2 2025 was Demars Financial Group, an estimated $248M sold.
Based on aggregated 13F filings for Q2 2025.