% of shares outstanding is not shown for XLF: this is a fund line, and we hold no cover-page share count for it at any quarter — a fund's shares outstanding move with creations and redemptions rather than with issuance and buybacks, and it is not the SEC cover-page count this percentage is defined against. The figure is withheld rather than computed against a count that does not exist. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for XLF in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | JPMORGAN CHASE & CO | 144,985,688145.0M | $7.0B | — | ADD 50% |
| 2 | BANK OF AMERICA CORP /DE/ | 85,978,57986.0M | $4.2B | — | ADD 7% |
| 3 | MORGAN STANLEY | 49,750,37549.8M | $2.5B | — | ADD 22% |
| 4 | WELLS FARGO & COMPANY/MN | 43,826,09643.8M | $2.2B | — | ADD 12% |
| 5 | GOLDMAN SACHS GROUP INC | 25,069,41525.1M | $1.2B | — | ADD 28% |
| 6 | ENVESTNET ASSET MANAGEMENT INC | 24,064,77324.1M | $1.2B | — | TRIM -5% |
| 7 | LPL Financial LLC | 20,178,03320.2M | $996M | — | TRIM -7% |
| 8 | UBS Group AG | 18,405,64018.4M | $909M | — | ADD 28% |
| 9 | RAYMOND JAMES FINANCIAL INC | 16,174,69316.2M | $799M | — | — |
| 10 | ROYAL BANK OF CANADA | 12,663,36012.7M | $625M | — | ADD 13% |
| 11 | AMERIPRISE FINANCIAL INC | 9,352,4989.4M | $536M | — | TRIM -17% |
| 12 | MILLENNIUM MANAGEMENT LLC | 10,731,30110.7M | $530M | — | ADD 162% |
| 13 | NISSAY ASSET MANAGEMENT CORP /JAPAN | 9,944,3379.9M | $491M | — | ADD 57% |
| 14 | TRUIST FINANCIAL CORP | 9,792,2289.8M | $483M | — | — |
| 15 | Janney Montgomery Scott LLC | 9,254,8459.3M | $457M | — | — |
| 16 | Focus Partners Wealth | 8,365,7178.4M | $413M | — | TRIM -32% |
| 17 | WestEnd Advisors, LLC | 7,763,6257.8M | $383M | — | TRIM -2% |
| 18 | CITIGROUP INC | 6,577,7976.6M | $325M | — | TRIM -5% |
| 19 | TWO SIGMA INVESTMENTS, LP | 5,161,7365.2M | $255M | — | ADD 836% |
| 20 | PGIM Custom Harvest LLC | 5,005,3715.0M | $247M | — | TRIM -50% |
| 21 | Main Management ETF Advisors, LLC | 4,888,8474.9M | $241M | — | TRIM -35% |
| 22 | FMR LLC | 4,305,0264.3M | $213M | — | — |
| 23 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 4,136,3784.1M | $204M | — | TRIM -4% |
| 24 | Caisse de depot et placement du Quebec | 4,000,6664.0M | $198M | — | NEW |
| 25 | OSAIC HOLDINGS, INC. | 3,840,8383.8M | $190M | — | TRIM -24% |
| 26 | CITADEL ADVISORS LLC | 3,653,5053.7M | $180M | — | ADD 152% |
| 27 | MEITAV INVESTMENT HOUSE LTD | 3,302,3343.3M | $163M | — | TRIM -40% |
| 28 | MML INVESTORS SERVICES, LLC | 3,272,2853.3M | $162M | — | TRIM -22% |
| 29 | Clal Insurance Enterprises Holdings Ltd | 3,196,0003.2M | $158M | — | — |
| 30 | JANE STREET GROUP, LLC | 2,927,6272.9M | $145M | — | TRIM -65% |
| 31 | VICTORY CAPITAL MANAGEMENT INC | 2,848,2752.8M | $141M | — | — |
| 32 | MENORA MIVTACHIM HOLDINGS LTD. | 2,737,4422.7M | $135M | — | — |
| 33 | RENAISSANCE TECHNOLOGIES LLC | 2,716,3102.7M | $134M | — | ADD 106% |
| 34 | Cetera Investment Advisers | 2,652,7272.7M | $131M | — | TRIM -10% |
| 35 | J.Safra Asset Management Corp | 2,619,2572.6M | $129M | — | ADD 47% |
| 36 | STIFEL FINANCIAL CORP | 2,523,4282.5M | $125M | — | TRIM -7% |
| 37 | NATIXIS | 2,512,4802.5M | $124M | — | ADD 95943% |
| 38 | BlackRock, Inc. | 2,500,7522.5M | $123M | — | ADD 35% |
| 39 | Brevan Howard Capital Management LP | 2,500,0002.5M | $123M | — | NEW |
| 40 | Unisphere Establishment | 2,500,0002.5M | $123M | — | ADD 92% |
| 41 | BANK OF NOVA SCOTIA | 2,372,1142.4M | $117M | — | ADD 772% |
| 42 | Phoenix Financial Ltd. | 2,302,3812.3M | $114M | — | ADD 75% |
| 43 | HighTower Advisors, LLC | 2,230,4392.2M | $110M | — | — |
| 44 | Parallax Volatility Advisers, L.P. | 2,082,5792.1M | $104M | — | ADD 208257800% |
| 45 | NORTHERN TRUST CORP | 2,091,7552.1M | $103M | — | TRIM -4% |
| 46 | PETREDIS INVESTMENT ADVISORS LLC | 2,006,4762.0M | $99M | — | ADD 4% |
| 47 | AGF MANAGEMENT LTD | 1,929,0971.9M | $95M | — | TRIM -7% |
| 48 | Rockefeller Capital Management L.P. | 1,917,2751.9M | $95M | — | — |
| 49 | Advisory Alpha, LLC | 1,907,3151.9M | $94M | — | ADD 48% |
| 50 | Migdal Insurance & Financial Holdings Ltd. | 1,893,8091.9M | $93M | — | TRIM -59% |
| 51 | SIGNATURE ESTATE & INVESTMENT ADVISORS LLC | 1,838,0831.8M | $91M | — | ADD 6% |
| 52 | Vontobel Holding Ltd. | 1,826,9771.8M | $90M | — | ADD 291% |
| 53 | Optiver Holding B.V. | 1,825,4691.8M | $90M | — | ADD 63% |
| 54 | Saudi Central Bank | 1,717,2691.7M | $85M | — | — |
| 55 | Main Management LLC | 1,703,8661.7M | $84M | — | TRIM -17% |
| 56 | Thrivent Financial for Lutherans | 1,613,2601.6M | $80M | — | ADD 28% |
| 57 | TIFF ADVISORY SERVICES, LLC | 1,559,0621.6M | $77M | — | TRIM -45% |
| 58 | Gerber Kawasaki Wealth & Investment Management | 1,486,0231.5M | $73M | — | ADD 11% |
| 59 | COMMONWEALTH EQUITY SERVICES, LLC | 1,479,6621.5M | $73M | — | TRIM -4% |
| 60 | Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD | 1,436,2921.4M | $71M | — | TRIM -11% |
| 61 | Dynasty Wealth Management, LLC | 1,405,6451.4M | $69M | — | TRIM -19% |
| 62 | PNC FINANCIAL SERVICES GROUP, INC. | 1,331,8691.3M | $66M | — | — |
| 63 | Quotient Wealth Partners, LLC | 1,320,0701.3M | $65M | — | ADD 10% |
| 64 | HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | 1,200,0001.2M | $59M | — | NEW |
| 65 | STATE STREET CORP | 1,194,3231.2M | $59M | — | TRIM -13% |
| 66 | ALPS ADVISORS INC | 1,180,1151.2M | $58M | — | ADD 22% |
| 67 | BANK OF MONTREAL /CAN/ | 1,143,7841.1M | $56M | — | ADD 7% |
| 68 | Capital Investment Advisors, LLC | 1,135,9141.1M | $56M | — | — |
| 69 | CAPTRUST FINANCIAL ADVISORS | 1,119,2631.1M | $55M | — | TRIM -26% |
| 70 | US BANCORP \DE\ | 1,107,4301.1M | $55M | — | TRIM -11% |
| 71 | ASSETMARK, INC | 1,094,0061.1M | $54M | — | ADD 6% |
| 72 | Cambridge Investment Research Advisors, Inc. | 1,092,0231.1M | $54M | — | TRIM -6% |
| 73 | CIBC WORLD MARKET INC. | 1,088,9221.1M | $54M | — | TRIM -65% |
| 74 | FIFTH THIRD BANCORP | 1,087,5081.1M | $54M | — | ADD 59% |
| 75 | Cerity Partners LLC | 1,020,2321.0M | $50M | — | — |
| 76 | MERCER GLOBAL ADVISORS INC /ADV | 1,000,7211.0M | $49M | — | — |
| 77 | HSBC HOLDINGS PLC | 985,948985,948 | $49M | — | TRIM -53% |
| 78 | INVICTUS PRIVATE WEALTH, LLC | 919,245919,245 | $45M | — | ADD 4% |
| 79 | Gradient Investments LLC | 915,406915,406 | $45M | — | ADD 7% |
| 80 | JONES FINANCIAL COMPANIES LLLP | 940,396940,396 | $45M | — | ADD 9% |
| 81 | HRT FINANCIAL LP | 907,738907,738 | $45M | — | ADD 488% |
| 82 | Farther Finance Advisors, LLC | 884,922884,922 | $44M | — | ADD 45% |
| 83 | KCM INVESTMENT ADVISORS LLC | 860,033860,033 | $42M | — | — |
| 84 | Equitable Holdings, Inc. | 764,429764,429 | $42M | — | ADD 4% |
| 85 | PARK AVENUE SECURITIES LLC | 835,764835,764 | $41M | — | TRIM -5% |
| 86 | SG Americas Securities, LLC | 805,837805,837 | $40M | — | ADD 376% |
| 87 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 797,861797,861 | $39M | — | ADD 272% |
| 88 | BARCLAYS PLC | 775,585775,585 | $38M | — | ADD 57% |
| 89 | Yelin Lapidot Holdings Management Ltd. | 765,764765,764 | $38M | — | — |
| 90 | Private Advisor Group, LLC | 750,222750,222 | $37M | — | TRIM -14% |
| 91 | Maven Securities LTD | 740,170740,170 | $37M | — | ADD 6% |
| 92 | Krilogy Financial LLC | 692,599692,599 | $36M | — | ADD 17% |
| 93 | Corient Private Wealth LLC | 794,754794,754 | $35M | — | TRIM -38% |
| 94 | BNP PARIBAS FINANCIAL MARKETS | 681,356681,356 | $34M | — | TRIM -47% |
| 95 | JANUS HENDERSON GROUP PLC | 677,070677,070 | $33M | — | ADD 43% |
| 96 | Mivtachim The Workers Social Insurance Fund Ltd. (Under Special Management) | 673,600673,600 | $33M | — | — |
| 97 | AFFINITY WEALTH MANAGEMENT LLC | 669,642669,642 | $33M | — | — |
| 98 | Evolution Wealth Advisors, LLC | 666,678666,678 | $33M | — | ADD 15% |
| 99 | Graham Capital Management, L.P. | 659,300659,300 | $33M | — | NEW |
| 100 | Composition Wealth, LLC | 641,375641,375 | $32M | — | ADD 7% |
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| JPMORGAN CHASE & CO | 108.9M | 150.0M | 114.4M | 266.2M | 96.4M | 145.0M | $7.0B |
| BANK OF AMERICA CORP /DE/ | 91.8M | 95.7M | 83.1M | 84.7M | 80.6M | 86.0M | $4.2B |
| MORGAN STANLEY | 56.5M | 56.9M | 44.5M | 47.4M | 40.9M | 49.8M | $2.5B |
| WELLS FARGO & COMPANY/MN | 19.8M | 22.6M | 25.4M | 38.0M | 39.1M | 43.8M | $2.2B |
| GOLDMAN SACHS GROUP INC | 13.5M | 11.8M | 17.2M | 21.1M | 19.6M | 25.1M | $1.2B |
| ENVESTNET ASSET MANAGEMENT INC | 22.2M | 23.2M | 18.3M | 22.0M | 25.4M | 24.1M | $1.2B |
| LPL Financial LLC | 19.0M | 21.1M | 20.9M | 24.2M | 21.7M | 20.2M | $996M |
| UBS Group AG | 13.3M | 15.7M | 13.4M | 15.2M | 14.4M | 18.4M | $909M |
| RAYMOND JAMES FINANCIAL INC | 16.0M | 16.0M | 13.5M | 13.5M | 16.3M | 16.2M | $799M |
| ROYAL BANK OF CANADA | 8.5M | 7.2M | 16.4M | 10.1M | 11.3M | 12.7M | $625M |
| AMERIPRISE FINANCIAL INC | 10.3M | 11.7M | 11.6M | 14.2M | 11.3M | 9.4M | $536M |
| MILLENNIUM MANAGEMENT LLC | 3.2M | 526K | 1.2M | 2.0M | 4.1M | 10.7M | $530M |
| NISSAY ASSET MANAGEMENT CORP /JAPAN | 2.1M | 3.4M | 3.3M | 4.6M | 6.3M | 9.9M | $491M |
| TRUIST FINANCIAL CORP | 10.0M | 10.2M | 8.1M | 8.1M | 10.0M | 9.8M | $483M |
| Janney Montgomery Scott LLC | 9.6M | 9.4M | 7.4M | 7.4M | 9.2M | 9.3M | $457M |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| JPMORGAN CHASE & CO | +48,607,893 | $2.4B | ADD |
| MORGAN STANLEY | +8,827,113 | $436M | ADD |
| MILLENNIUM MANAGEMENT LLC | +6,637,850 | $328M | ADD |
| GOLDMAN SACHS GROUP INC | +5,428,708 | $268M | ADD |
| BANK OF AMERICA CORP /DE/ | +5,364,413 | $265M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Duquesne Family Office LLC | −5,495,600 | $271M | CLOSE |
| JANE STREET GROUP, LLC | −5,368,250 | $265M | TRIM |
| PGIM Custom Harvest LLC | −5,085,812 | $251M | TRIM |
| Provida Pension Fund Administrator | −4,263,989 | $211M | CLOSE |
| Focus Partners Wealth | −4,011,147 | $198M | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 1,822 | 749,914,267 | — | $36.9B |
| 2025-Q4 | 1,956 | 702,128,325 | — | $38.4B |
| 2025-Q3 | 1,817 | 871,477,700 | — | $46.9B |
| 2025-Q2 | 1,803 | 717,912,109 | — | $37.6B |
| 2025-Q1 | 1,793 | 780,633,148 | — | $38.9B |
| 2024-Q4 | 1,773 | 749,047,678 | — | $36.2B |
| 2024-Q3 | 1,585 | 823,264,776 | — | $37.3B |
| 2024-Q2 | 1,497 | 841,108,549 | — | $34.6B |
| 2024-Q1 | 1,515 | 914,901,475 | — | $38.5B |
| 2023-Q4 | 1,456 | 814,565,002 | — | $30.7B |
| 2023-Q3 | 1,328 | 662,161,125 | — | $22.0B |
| 2023-Q2 | 1,342 | 711,828,680 | — | $24.0B |
| 2023-Q1 | 1,359 | 648,594,239 | — | $20.9B |
| 2022-Q4 | 1,442 | 664,752,849 | — | $22.7B |
| 2022-Q3 | 1,303 | 619,088,404 | — | $19.0B |
| 2022-Q2 | 1,372 | 618,434,375 | — | $19.6B |
| 2022-Q1 | 1,508 | 824,743,320 | — | $31.7B |
| 2021-Q4 | 1,507 | 773,379,974 | — | $30.2B |
| 2021-Q3 | 1,352 | 743,456,110 | — | $27.7B |
| 2021-Q2 | 1,320 | 714,668,678 | — | $26.2B |
| 2021-Q1 | 1,262 | 781,002,468 | — | $26.6B |
| 2020-Q4 | 1,114 | 594,871,287 | — | $17.5B |
| 2020-Q3 | 969 | 487,782,648 | — | $11.7B |
| 2020-Q2 | 991 | 517,129,783 | — | $12.0B |
| 2020-Q1 | 971 | 552,920,290 | — | $11.6B |
| 2019-Q4 | 1,122 | 491,659,425 | — | $15.2B |
| 2019-Q3 | 988 | 515,371,882 | — | $14.4B |
| 2019-Q2 | 977 | 582,132,686 | — | $16.1B |
| 2019-Q1 | 983 | 559,418,877 | — | $14.4B |
| 2018-Q4 | 1,023 | 599,183,256 | — | $14.3B |
| 2018-Q3 | 970 | 655,384,450 | — | $18.1B |
| 2018-Q2 | 970 | 656,708,608 | — | $17.5B |
| 2018-Q1 | 972 | 663,259,130 | — | $18.3B |
| 2017-Q4 | 959 | 720,020,332 | — | $20.1B |
| 2017-Q3 | 815 | 655,861,755 | — | $16.7B |
| 2017-Q2 | 800 | 587,014,885 | — | $14.4B |
| 2017-Q1 | 803 | 660,720,693 | — | $15.7B |
| 2016-Q4 | 765 | 647,111,287 | — | $15.0B |
| 2016-Q3 | 596 | 395,049,299 | — | $7.6B |
| 2016-Q2 | 573 | 372,799,782 | — | $8.5B |
| 2016-Q1 | 576 | 417,165,103 | — | $9.4B |
| 2015-Q4 | 642 | 446,743,577 | — | $10.6B |
| 2015-Q3 | 600 | 465,941,119 | — | $10.7B |
| 2015-Q2 | 616 | 511,370,488 | — | $12.4B |
| 2015-Q1 | 599 | 530,089,972 | — | $12.8B |
| 2014-Q4 | 612 | 611,545,611 | — | $15.2B |
| 2014-Q3 | 548 | 554,557,801 | — | $12.9B |
| 2014-Q2 | 516 | 542,996,255 | — | $12.6B |
| 2014-Q1 | 540 | 531,714,504 | — | $12.1B |
| 2013-Q4 | 503 | 480,225,727 | — | $10.6B |
| 2013-Q3 | 434 | 422,798,205 | — | $8.5B |
| 2013-Q2 | 435 | 445,842,306 | — | $8.8B |
| 2013-Q1 | 32 | 34,784,066 | — | $633M |
