State Street Real Estate Select Sector SPDR ETF
XLRE
777 hedge funds and large institutions have $5.9B invested in State Street Real Estate Select Sector SPDR ETF in 2025 Q4 according to their latest regulatory filings, with 132 funds opening new positions, 276 increasing their positions, 251 reducing their positions, and 69 closing their positions.
91% more first-time investments, than exits
New positions opened: 132 | Existing positions closed: 69
7% more funds holding
Funds holding: 725 → 777 (+52)
10% more repeat investments, than reductions
Existing positions increased: 276 | Existing positions reduced: 251
0.88% less ownership
Funds ownership: 79.42% → 78.54% (-0.88%)
6% less capital invested
Capital invested by funds: $6.24B → $5.9B (-$343M)
20% less funds holding in top 10
Funds holding in top 10: 10 → 8 (-2)
74% less call options, than puts
Call options by funds: $26.9M | Put options by funds: $105M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
+$236M |
| 2 |
Creative Planning
Overland Park,
Kansas
|
+$156M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$43.7M |
| 4 |
CCM
Cullen Capital Management
New York
|
+$33.3M |
| 5 |
Victory Capital Management
San Antonio,
Texas
|
+$17.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PF
Phoenix Financial
Givatayim,
Israel
|
-$150M |
| 2 |
BNP Paribas Financial Markets
Paris,
France
|
-$127M |
| 3 |
HIIFS
Harel Insurance Investments & Financial Services
Ramat Gan,
Israel
|
-$66.4M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$58.5M |
| 5 |
Caisse de Depot et Placement du Quebec (CDPQ)
Montreal,
Quebec, Canada
|
-$47M |
XLRE Hedge Fund Activity: Q4 2025 in Review
777 of the 8,264 institutional investors tracked by Wall St. Rank reported a position in State Street Real Estate Select Sector SPDR ETF (XLRE) for Q4 2025, worth a combined $5.9B — down 5.5% from $6.24B a quarter earlier.
Buyers outnumbered sellers: 132 funds opened new XLRE positions and 69 closed out — a net gain of 63 holders — while 276 added to existing stakes and 251 trimmed.
The largest buyer was Two Sigma Investments, opening a new position worth an estimated $236M. The largest seller was Phoenix Financial, cutting an estimated $150M.
- 777 institutional investors held State Street Real Estate Select Sector SPDR ETF (XLRE) as of Q4 2025, up from 725 in Q3 2025.
- Funds reported $5.9B of State Street Real Estate Select Sector SPDR ETF stock for Q4 2025, down 5.5% quarter-over-quarter.
- 132 funds opened new State Street Real Estate Select Sector SPDR ETF positions in Q4 2025 and 69 closed out, a net change of +63 holders.
- The largest State Street Real Estate Select Sector SPDR ETF buyer in Q4 2025 was Two Sigma Investments, an estimated $236M added.
- The largest State Street Real Estate Select Sector SPDR ETF seller in Q4 2025 was Phoenix Financial, an estimated $150M sold.
Based on aggregated 13F filings for Q4 2025.