Onyx Bridge Wealth Group 13F: Cuts XLK Stake by $42M

On October 16, 2026, Onyx Bridge Wealth Group disclosed a reduction in its holdings of the State Street Technology Select Sector SPDR ETF (XLK) in a filing with the SEC. The fund cut its position by 214,281 shares, bringing its total to 32,074 shares valued at approximately $6.3 million.

What Changed in Onyx Bridge's XLK Position

Onyx Bridge cut its stake in the State Street Technology Select Sector SPDR ETF by 214,281 shares, marking an 86.98% decrease from its previous total of 246,355 shares. This significant reduction reflects a strategic shift in its investment approach, as the fund now holds a smaller position in this ETF.

Other Institutional Activity in XLK

Hbw Advisory Services reduced its holdings in the State Street Technology Select Sector SPDR ETF by 30.1% to end with 52,656 shares on October 15, 2026. This move, prior to Onyx Bridge's action, indicates a trend among larger investors to trim their stakes in this ETF during the same reporting period.

State Street Technology Select Sector SPDR ETF Stock Down 3.4%

The State Street Technology Select Sector SPDR ETF is currently trading around $183.87. This price is below the 50-day moving average of $189.97 but sits above its 52-week low of $126.68, reflecting some volatility in the market. The fund has a P/E ratio of about 30.98, which suggests it is valued at a premium compared to some other investment options in the sector.

Recent Earnings

The fund's trailing twelve-month revenue is not reported in this filing. However, the P/E ratio indicates that investors are willing to pay a higher price per earnings, reflecting expectations about future growth in the technology sector.

Insider Buying and Selling at State Street Technology Select Sector SPDR ETF

No insider buying or selling data is available for State Street Technology Select Sector SPDR ETF at this time.

Analysts Set New Price Targets

This lack of analyst activity may suggest a need for further scrutiny and evaluation from market experts.

About State Street Technology Select Sector SPDR ETF

The State Street Technology Select Sector SPDR ETF aims to track the performance of a benchmark technology sector index by investing in the stocks that comprise that index. This approach allows the fund to gain exposure to a diversified portfolio of technology companies.

Bottom Line

Onyx Bridge's significant cut in its position may reflect broader market conditions affecting technology stocks. Investors should pay attention to the upcoming earnings report and any further filings for updates on institutional holdings in this ETF, as the filing shows the fund's activities as of the end of the reporting quarter and may not represent its current position.