State Street SPDR S&P Biotech ETF
656 hedge funds and large institutions have $12.4B invested in State Street SPDR S&P Biotech ETF in 2025 Q3 according to their latest regulatory filings, with 100 funds opening new positions, 151 increasing their positions, 242 reducing their positions, and 63 closing their positions.
59% more first-time investments, than exits
New positions opened: 100 | Existing positions closed: 63
28% more capital invested
Capital invested by funds: $9.73B → $12.4B (+$2.71B)
20% more funds holding in top 10
Funds holding in top 10: 15 → 18 (+3)
16.12% more ownership
Funds ownership: 198.49% → 214.61% (+16%)
5% more funds holding
Funds holding: 625 → 656 (+31)
24% less call options, than puts
Call options by funds: $2.38B | Put options by funds: $3.15B
38% less repeat investments, than reductions
Existing positions increased: 151 | Existing positions reduced: 242
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$418M |
| 2 |
JP Morgan Chase
New York
|
+$261M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$248M |
| 4 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
+$152M |
| 5 |
Barclays
London,
United Kingdom
|
+$134M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citigroup
New York
|
-$168M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$154M |
| 3 |
BNP Paribas Financial Markets
Paris,
France
|
-$148M |
| 4 |
Jane Street
New York
|
-$114M |
| 5 |
Morgan Stanley
New York
|
-$72.7M |
XBI Hedge Fund Activity: Q3 2025 in Review
656 of the 7,638 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR S&P Biotech ETF (XBI) for Q3 2025, worth a combined $12.4B — up 28% from $9.73B a quarter earlier.
Buyers outnumbered sellers: 100 funds opened new XBI positions and 63 closed out — a net gain of 37 holders — while 151 added to existing stakes and 242 trimmed.
The largest buyer was Goldman Sachs, adding an estimated $418M. The largest seller was Citigroup, cutting an estimated $168M.
- 656 institutional investors held State Street SPDR S&P Biotech ETF (XBI) as of Q3 2025, up from 625 in Q2 2025.
- Funds reported $12.4B of State Street SPDR S&P Biotech ETF stock for Q3 2025, up 28% quarter-over-quarter.
- 100 funds opened new State Street SPDR S&P Biotech ETF positions in Q3 2025 and 63 closed out, a net change of +37 holders.
- The largest State Street SPDR S&P Biotech ETF buyer in Q3 2025 was Goldman Sachs, an estimated $418M added.
- The largest State Street SPDR S&P Biotech ETF seller in Q3 2025 was Citigroup, an estimated $168M sold.
Based on aggregated 13F filings for Q3 2025.