State Street Communication Services Select Sector SPDR ETF
1,202 hedge funds and large institutions have $23.1B invested in State Street Communication Services Select Sector SPDR ETF in 2025 Q4 according to their latest regulatory filings, with 167 funds opening new positions, 455 increasing their positions, 406 reducing their positions, and 82 closing their positions.
104% more first-time investments, than exits
New positions opened: 167 | Existing positions closed: 82
12% more repeat investments, than reductions
Existing positions increased: 455 | Existing positions reduced: 406
6% more funds holding
Funds holding: 1,138 → 1,202 (+64)
2.06% more ownership
Funds ownership: 83.5% → 85.57% (+2.1%)
2% less capital invested
Capital invested by funds: $23.6B → $23.1B (-$479M)
16% less call options, than puts
Call options by funds: $265M | Put options by funds: $315M
17% less funds holding in top 10
Funds holding in top 10: 66 → 55 (-11)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NAM
Nissay Asset Management
Tokyo,
Japan
|
+$193M |
| 2 |
MIH
Meitav Investment House
Bene-Beraq,
Israel
|
+$166M |
| 3 |
BNP Paribas Financial Markets
Paris,
France
|
+$54.9M |
| 4 |
CCM
Cullen Capital Management
New York
|
+$54.6M |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
+$54.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Squarepoint
New York
|
-$328M |
| 2 |
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
|
-$118M |
| 3 |
Bank of Nova Scotia
Toronto,
Ontario, Canada
|
-$98.7M |
| 4 |
LPL Financial
San Diego,
California
|
-$97.5M |
| 5 |
Marshall Wace
London,
United Kingdom
|
-$75.8M |
XLC Hedge Fund Activity: Q4 2025 in Review
1,202 institutional investors reported a position in State Street Communication Services Select Sector SPDR ETF (XLC) for Q4 2025, worth a combined $23.1B — down 2% from $23.6B a quarter earlier.
Buyers outnumbered sellers: 167 funds opened new XLC positions and 82 closed out — a net gain of 85 holders — while 455 added to existing stakes and 406 trimmed.
The largest buyer was Nissay Asset Management, opening a new position worth an estimated $193M. The largest seller was Squarepoint, exiting entirely with an estimated $328M sold.
- 1,202 institutional investors held State Street Communication Services Select Sector SPDR ETF (XLC) as of Q4 2025, up from 1,138 in Q3 2025.
- Funds reported $23.1B of State Street Communication Services Select Sector SPDR ETF stock for Q4 2025, down 2% quarter-over-quarter.
- 167 funds opened new State Street Communication Services Select Sector SPDR ETF positions in Q4 2025 and 82 closed out, a net change of +85 holders.
- The largest State Street Communication Services Select Sector SPDR ETF buyer in Q4 2025 was Nissay Asset Management, an estimated $193M added.
- The largest State Street Communication Services Select Sector SPDR ETF seller in Q4 2025 was Squarepoint, an estimated $328M sold.
Based on aggregated 13F filings for Q4 2025.