XLF

XLF

XLF

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q3	Sep 30, 2024	PivotalPath	-	-	IBB, RMZ, XLC, XLE, XLF, XLP, XLRE, XLU, XLV, XLY	Alpha Generation, Equity Sector, Hedge Funds, Multi-Strategy, Performance, volatility	Volatility spiked to 65 early in August before reversing and finishing the month down 8.3%. The volatility impacted PivotalPath's Managed Futures and Global Macro Indices while stock picking strategies continued to show their worth during the choppy period.		View
2025 Q2	Jul 8, 2025	Mountain Vista Wealth Management	-	-	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	diversification, Dollar, IPOs, Recovery, tariffs, volatility	Manager emphasizes that volatility is the price of admission for superior long-term returns, citing the April market decline and subsequent recovery. The VIX reached 60 during Liberation Day sell-off, the highest since March 2020.		View
2024 Q2	Jun 30, 2024	The Wolf of Harcourt Street	-0.6%	11.2%	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	diversification, Dollar, international, IPOs, tariffs, volatility	The manager emphasizes that volatility is the price of admission for superior long-term returns, citing the extreme market swings in April when the S&P 500 and Nasdaq 100 dropped 11% before recovering. Historical analysis shows strong returns following rapid market declines and near bear markets.		View
2024 Q1	Apr 5, 2024	Brummer Multi-Strategy Fund	-	-	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	diversification, Dollar, international, IPOs, technology, Trade Policy, volatility	The manager emphasizes that volatility is the price of admission for superior long-term returns, citing the April market decline and subsequent recovery. During extreme volatility periods like Liberation Day, investors should avoid converting temporary losses into permanent ones by selling.		View
2025 Q1	Apr 10, 2025	Skybound Wealth Management	-	-	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	Capital markets, diversification, Dollar, Recovery, tariffs, Trade Policy, volatility	Market experienced extreme volatility in April with S&P 500 and Nasdaq 100 dropping 11% from March 31st to April 8th triggered by Trump's reciprocal tariffs announcement. VIX reached approximately 60 intraday during the Liberation Day sell-off, the highest reading since March 2020. Despite the volatility, markets recovered strongly with V-shaped recovery patterns.		View
2025 Q3	Oct 12, 2025	Ashva Capital Management	10.2%	-	DIS, HOOD, XLF	Compounding, financials, Fintech, long-term, Streaming, value	The fund holds XLF for diversified exposure to America's financial sector including banks, insurance, capital markets, mortgage REITs, and consumer finance companies. The manager expects the sector to benefit from declining interest rates, resilient credit quality, and potential yield curve steepening, with Q3 earnings expected to grow roughly 10% on revenue growth of nearly 6%.	HOOD DIS XLF	View
2025 Q4	Jan 9, 2026	QuadCap Wealth Management	0.0%	0.0%	AGG, DIA, EEM, EFA, HYG, IWD, IWF, IWM, IWN, IWO, IWP, IWR, IWS, LQD, MUB, QQQ, SPY, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	AI, Economic Data, Fed policy, Government Shutdown, Market Leadership	Artificial intelligence remained a key investment theme in Q4, but the narrative matured as investors became more selective. The market shifted focus from headline growth to AI economics, questioning capital requirements for data centers and whether companies could maintain spending pace without pressuring cash flow. Companies involved in large-scale AI projects faced increased scrutiny, especially where spending plans outpaced near-term cash flow. The Federal Reserve cut interest rates by -0.50% in Q4 but signaled a pause, emphasizing future cuts will depend on incoming data. Officials appeared divided between those warning policy remains too restrictive and others cautioning against cutting too soon and reigniting inflation. The shutdown data fog made Fed policy a source of near-term uncertainty and market volatility.		View
2025 Q4	Jan 6, 2026	PivotalPath	0.0%	0.0%	AGG, AVGO, CWB, HYG, IBB, LQD, ORCL, XBI, XLE, XLF, XLK, XLU, XLV, XLY	AI, Crowding, Fed policy, Hedge Funds, liquidity, Long/Short, Macro, Multi-Strat	AI remained the loudest theme but tone shifted from breakthrough to balance sheet. The market's new habit of asking show me the cash flow reinforced that AI isn't being abandoned but is being priced more realistically. AI infrastructure remained the sturdier expression across equity and credit books. Fed announced short-term Treasury bill purchases as technical measure to maintain ample reserves. This mix of policy easing and practical focus on liquidity helped explain December's feel of being supportive when conditions were orderly, jittery when they weren't. Funding markets can suddenly drive the agenda. Fed cut rates by 25bps on December 10 while describing growth as moderate and inflation as still somewhat elevated. Markets took message as cut now, likely pause soon. The opportunity set was less about calling one Fed meeting and more about trading the path via rates and FX. Healthcare and biotech took a breather after strong run, falling back over December. Managers believe this pause reflects digestion rather than dramatic change of heart. Biotech remained a stock-picker's market where one good dataset can massively move the needle. Momentum fell 1.91% over the month with quick switches between stick with winners and take the money and run. Many quant teams operated with shorter lookbacks, smaller position sizes, and tighter crowding guardrails because Momentum has become too popular for its own good. Utilities fell 5.79% as market rotated away from defensives, though structural story didn't disappear. Managers continued to blend core yield exposure with targeted bets on transmission upgrades, renewables rollout, and data-center power demand seeking mix of income and growth.		View
2025 Q4	Jan 6, 2026	Financial Synergies Wealth Advisors	0.0%	0.0%	AGG, DIA, EEM, EFA, HYG, IWD, IWF, IWM, IWN, IWO, IWP, IWR, IWS, LQD, MUB, QQQ, SPY, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	AI, Economy, Fed policy, interest rates, Markets, outlook, technology, volatility	Artificial intelligence remained a key investment theme in Q4, but the narrative matured as investors became more selective. The market shifted focus from broad enthusiasm to companies demonstrating pricing power and a path to profitability rather than growth at any cost. Questions emerged about capital requirements for data centers and whether companies could maintain aggressive capex spending without pressuring cash flow. The Federal Reserve cut interest rates by 0.50% in Q4 but signaled a pause, hinting it could cut less than the market expects in 2026. Fed officials appeared divided with some warning policy remains too restrictive while others caution cutting too soon could reignite inflation. The government shutdown delayed key economic data, making Fed policy a source of near-term uncertainty and market volatility.		View
2024 Q2	Aug 15, 2024	PivotalPath	0.0%	6.8%	AMZX, IBB, RMZ, XLB, XLC, XLF, XLP, XLRE, XLY	alpha, commodities, financials, Hedge Funds, Performance, Rotation, technology, value	Financials led performance in July with 9.6% returns and 12.3% YTD, benefiting from strong capital positions globally, Fed interest rate policy support, and generous dividend yields during rotation away from AI stocks.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Nov 29, 2025	Fund Letters	Ankur Shah	Financial Select Sector SPDR Fund	Other	Financials ETF	Bull	NYSE	Banks, dividends, ETF, financials, Macro, Value	View Pitch

BSD Shareholders of XLF

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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