Who owns XLF (XLF)
Which tracked institutional funds hold XLF, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See XLF company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on XLF is one-sided between 2025-Q4 and 2026-Q1: 200 added or opened and 602 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
XLF’s largest tracked holder by dollar value, JPMORGAN CHASE & CO, sizes it at 0.5% of its own reported 13F book, while the median holder sizes it at 0.3% of theirs — a 0.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in XLF divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 1827 tracked filers holding XLF, 775 increased or opened the position and 1019 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in XLF between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 63
- Caisse de depot et placement du Quebec$198M
- Brevan Howard Capital Management LP$123M
- HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND$59M
- Graham Capital Management, L.P.$33M
- Jain Global LLC$20M
- SummitTX Capital, L.P.$14M
Full exits 107
- Duquesne Family Office LLC$301M
- Provida Pension Fund Administrator$234M
- CAPSTONE INVESTMENT ADVISORS, LLC$142M
- Squarepoint Ops LLC$120M
- Main Management Fund Advisors LLC$109M
- 1832 Asset Management L.P.$57M
Largest adds
- JPMORGAN CHASE & CO$1.7B
- MILLENNIUM MANAGEMENT LLC$306M
- TWO SIGMA INVESTMENTS, LP$225M
- MORGAN STANLEY$215M
- GOLDMAN SACHS GROUP INC$162M
- NISSAY ASSET MANAGEMENT CORP /JAPAN$145M
Largest trims
- JANE STREET GROUP, LLC$310M
- PGIM Custom Harvest LLC$306M
- Focus Partners Wealth$265M
- ENVESTNET ASSET MANAGEMENT INC$203M
- LPL Financial LLC$194M
- BANK OF AMERICA CORP /DE/$170M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| JPMORGAN CHASE & CO added | 144,985,688 | $7.0B | 20.6% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 85,978,579 | $4.2B | 12.5% | 2026-Q1 |
| MORGAN STANLEY added | 49,750,375 | $2.5B | 7.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 43,826,096 | $2.2B | 6.4% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 25,069,415 | $1.2B | 3.6% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 24,064,773 | $1.2B | 3.5% | 2026-Q1 |
| LPL Financial LLC trimmed | 20,178,033 | $996M | 2.9% | 2026-Q1 |
| UBS Group AG added | 18,405,640 | $909M | 2.7% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 16,174,693 | $799M | 2.3% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 12,663,360 | $625M | 1.8% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 9,352,498 | $536M | 1.6% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 10,731,301 | $530M | 1.6% | 2026-Q1 |
| NISSAY ASSET MANAGEMENT CORP /JAPAN added | 9,944,337 | $491M | 1.4% | 2026-Q1 |
| TRUIST FINANCIAL CORP trimmed | 9,792,228 | $483M | 1.4% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 9,254,845 | $457M | 1.3% | 2026-Q1 |
| Focus Partners Wealth trimmed | 8,365,717 | $413M | 1.2% | 2026-Q1 |
| WestEnd Advisors, LLC trimmed | 7,763,625 | $383M | 1.1% | 2026-Q1 |
| CITIGROUP INC trimmed | 6,577,797 | $325M | 1.0% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 5,161,736 | $255M | 0.7% | 2026-Q1 |
| PGIM Custom Harvest LLC trimmed | 5,005,371 | $247M | 0.7% | 2026-Q1 |
| Main Management ETF Advisors, LLC trimmed | 4,888,847 | $241M | 0.7% | 2026-Q1 |
| FMR LLC trimmed | 4,300,776 | $212M | 0.6% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 4,136,378 | $204M | 0.6% | 2026-Q1 |
| Caisse de depot et placement du Quebec trimmed | 4,000,666 | $198M | 0.6% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 3,840,838 | $190M | 0.6% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 3,653,505 | $180M | 0.5% | 2026-Q1 |
| MEITAV INVESTMENT HOUSE LTD trimmed | 3,302,334 | $163M | 0.5% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 3,272,285 | $162M | 0.5% | 2026-Q1 |
| Clal Insurance Enterprises Holdings Ltd | 3,196,000 | $158M | 0.5% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 2,927,627 | $145M | 0.4% | 2026-Q1 |
| VICTORY CAPITAL MANAGEMENT INC added | 2,848,275 | $141M | 0.4% | 2026-Q1 |
| MENORA MIVTACHIM HOLDINGS LTD. trimmed | 2,737,442 | $135M | 0.4% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 2,716,310 | $134M | 0.4% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 2,652,727 | $131M | 0.4% | 2026-Q1 |
| J.Safra Asset Management Corp added | 2,619,257 | $129M | 0.4% | 2026-Q1 |
| STIFEL FINANCIAL CORP trimmed | 2,523,428 | $125M | 0.4% | 2026-Q1 |
| NATIXIS added | 2,512,480 | $124M | 0.4% | 2026-Q1 |
| BlackRock, Inc. added | 2,500,752 | $123M | 0.4% | 2026-Q1 |
| Unisphere Establishment added | 2,500,000 | $123M | 0.4% | 2026-Q1 |
| Brevan Howard Capital Management LP added | 2,500,000 | $123M | 0.4% | 2026-Q1 |
| BANK OF NOVA SCOTIA added | 2,372,114 | $117M | 0.3% | 2026-Q1 |
| Phoenix Financial Ltd. added | 2,302,381 | $114M | 0.3% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 2,230,439 | $110M | 0.3% | 2026-Q1 |
| Parallax Volatility Advisers, L.P. added | 2,082,579 | $104M | 0.3% | 2026-Q1 |
| NORTHERN TRUST CORP trimmed | 2,091,755 | $103M | 0.3% | 2026-Q1 |
| PETREDIS INVESTMENT ADVISORS LLC added | 2,006,476 | $99M | 0.3% | 2026-Q1 |
| AGF MANAGEMENT LTD trimmed | 1,929,097 | $95M | 0.3% | 2026-Q1 |
| Rockefeller Capital Management L.P. trimmed | 1,917,275 | $95M | 0.3% | 2026-Q1 |
| Advisory Alpha, LLC added | 1,907,315 | $94M | 0.3% | 2026-Q1 |
| Migdal Insurance & Financial Holdings Ltd. trimmed | 1,893,809 | $93M | 0.3% | 2026-Q1 |
| SIGNATURE ESTATE & INVESTMENT ADVISORS LLC added | 1,838,083 | $91M | 0.3% | 2026-Q1 |
| Vontobel Holding Ltd. added | 1,826,977 | $90M | 0.3% | 2026-Q1 |
| Optiver Holding B.V. added | 1,825,469 | $90M | 0.3% | 2026-Q1 |
| Saudi Central Bank | 1,717,269 | $85M | 0.2% | 2026-Q1 |
| Main Management LLC trimmed | 1,703,866 | $84M | 0.2% | 2026-Q1 |
| Thrivent Financial for Lutherans added | 1,613,260 | $80M | 0.2% | 2026-Q1 |
| TIFF ADVISORY SERVICES, LLC trimmed | 1,559,062 | $77M | 0.2% | 2026-Q1 |
| Gerber Kawasaki Wealth & Investment Management added | 1,486,023 | $73M | 0.2% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 1,479,662 | $73M | 0.2% | 2026-Q1 |
| Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD trimmed | 1,436,292 | $71M | 0.2% | 2026-Q1 |
| Dynasty Wealth Management, LLC trimmed | 1,405,645 | $69M | 0.2% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. added | 1,331,869 | $66M | 0.2% | 2026-Q1 |
| Quotient Wealth Partners, LLC added | 1,320,070 | $65M | 0.2% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 1,200,000 | $59M | 0.2% | 2026-Q1 |
| STATE STREET CORP trimmed | 1,194,323 | $59M | 0.2% | 2026-Q1 |
| ALPS ADVISORS INC added | 1,180,115 | $58M | 0.2% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 1,143,784 | $56M | 0.2% | 2026-Q1 |
| Capital Investment Advisors, LLC trimmed | 1,135,914 | $56M | 0.2% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS trimmed | 1,119,263 | $55M | 0.2% | 2026-Q1 |
| US BANCORP \DE\ trimmed | 1,107,430 | $55M | 0.2% | 2026-Q1 |
| ASSETMARK, INC added | 1,094,006 | $54M | 0.2% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. trimmed | 1,092,023 | $54M | 0.2% | 2026-Q1 |
| CIBC WORLD MARKET INC. trimmed | 1,088,922 | $54M | 0.2% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 1,087,508 | $54M | 0.2% | 2026-Q1 |
| Cerity Partners LLC trimmed | 1,020,232 | $50M | 0.1% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV added | 1,000,721 | $49M | 0.1% | 2026-Q1 |
| HSBC HOLDINGS PLC trimmed | 985,948 | $49M | 0.1% | 2026-Q1 |
| INVICTUS PRIVATE WEALTH, LLC added | 919,245 | $45M | 0.1% | 2026-Q1 |
| Gradient Investments LLC added | 915,406 | $45M | 0.1% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 940,396 | $45M | 0.1% | 2026-Q1 |
| HRT FINANCIAL LP added | 907,738 | $45M | 0.1% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 884,922 | $44M | 0.1% | 2026-Q1 |
| KCM INVESTMENT ADVISORS LLC added | 860,033 | $42M | 0.1% | 2026-Q1 |
| Equitable Holdings, Inc. added | 764,429 | $42M | 0.1% | 2026-Q1 |
| PARK AVENUE SECURITIES LLC trimmed | 835,764 | $41M | 0.1% | 2026-Q1 |
| SG Americas Securities, LLC added | 805,837 | $40M | 0.1% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 797,861 | $39M | 0.1% | 2026-Q1 |
| CHURCHILL MANAGEMENT Corp trimmed | 10,077,535 | $528M | 1.6% | 2025-Q2 stale |
| Duquesne Family Office LLC added | 5,495,600 | $301M | 0.9% | 2025-Q4 stale |
| Provida Pension Fund Administrator added | 4,263,989 | $234M | 0.7% | 2025-Q4 stale |
| CW Advisors, LLC added | 2,879,565 | $151M | 0.4% | 2025-Q2 stale |
| CAPSTONE INVESTMENT ADVISORS, LLC added | 2,590,378 | $142M | 0.4% | 2025-Q4 stale |
| Squarepoint Ops LLC added | 2,184,158 | $120M | 0.4% | 2025-Q4 stale |
| Main Management Fund Advisors LLC new | 1,998,400 | $109M | 0.3% | 2025-Q4 stale |
| WOLVERINE TRADING, LLC added | 1,646,746 | $89M | 0.3% | 2025-Q3 stale |
| 1832 Asset Management L.P. trimmed | 1,046,456 | $57M | 0.2% | 2025-Q4 stale |
| Absolute Gestao de Investimentos Ltda. added | 950,000 | $52M | 0.2% | 2025-Q4 stale |
| Balyasny Asset Management L.P. added | 941,523 | $52M | 0.2% | 2025-Q4 stale |
| SCHRODER INVESTMENT MANAGEMENT GROUP added | 905,476 | $47M | 0.1% | 2025-Q2 stale |
| Full Sail Capital, LLC trimmed | 778,041 | $42M | 0.1% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.