State Street SPDR S&P Biotech ETF
685 hedge funds and large institutions have $9.2B invested in State Street SPDR S&P Biotech ETF in 2025 Q1 according to their latest regulatory filings, with 74 funds opening new positions, 178 increasing their positions, 273 reducing their positions, and 119 closing their positions.
5.57% more ownership
Funds ownership: 134.33% → 139.9% (+5.6%)
6% less funds holding in top 10
Funds holding in top 10: 16 → 15 (-1)
6% less capital invested
Capital invested by funds: $9.82B → $9.2B (-$618M)
7% less funds holding
Funds holding: 738 → 685 (-53)
35% less repeat investments, than reductions
Existing positions increased: 178 | Existing positions reduced: 273
38% less first-time investments, than exits
New positions opened: 74 | Existing positions closed: 119
50% less call options, than puts
Call options by funds: $1.08B | Put options by funds: $2.17B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$324M |
| 2 |
Goldman Sachs
New York
|
+$317M |
| 3 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
+$297M |
| 4 |
JP Morgan Chase
New York
|
+$211M |
| 5 |
MIFH
Migdal Insurance & Financial Holdings
Petach Tikva,
Israel
|
+$93.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$184M |
| 2 |
BNP Paribas Financial Markets
Paris,
France
|
-$159M |
| 3 |
BCM
BlueCrest Capital Management
St Helier,
Jersey
|
-$138M |
| 4 |
RCM
RA Capital Management
Boston,
Massachusetts
|
-$111M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$67.2M |
XBI Hedge Fund Activity: Q1 2025 in Review
685 of the 7,472 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR S&P Biotech ETF (XBI) for Q1 2025, worth a combined $9.2B — down 6.3% from $9.82B a quarter earlier.
Sellers outnumbered buyers: 119 funds closed out of XBI and 74 opened new positions — a net loss of 45 holders — while 273 trimmed existing stakes and 178 added.
The largest buyer was UBS Group, adding an estimated $324M. The largest seller was Bank of America, cutting an estimated $184M.
- 685 institutional investors held State Street SPDR S&P Biotech ETF (XBI) as of Q1 2025, down from 738 in Q4 2024.
- Funds reported $9.2B of State Street SPDR S&P Biotech ETF stock for Q1 2025, down 6.3% quarter-over-quarter.
- 74 funds opened new State Street SPDR S&P Biotech ETF positions in Q1 2025 and 119 closed out, a net change of -45 holders.
- The largest State Street SPDR S&P Biotech ETF buyer in Q1 2025 was UBS Group, an estimated $324M added.
- The largest State Street SPDR S&P Biotech ETF seller in Q1 2025 was Bank of America, an estimated $184M sold.
Based on aggregated 13F filings for Q1 2025.