Trading · authorized participant (AP)
HRT Financial LP
HRT Financial LP was an authorized participant (AP) for 1,657 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026. It created $20.9bn and redeemed $11.4bn of their shares. It was active in 98 of them.
hudsonrivertrading.com, the firm’s website ↗| # | Ticker | Fund | Category | Created | Redeemed | Created and redeemed ↓ | Share of the fund’s AP dollars | Active APs in the fund | Period ending |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SPY | SPDR S&P 500 ETF Trust | U.S. stocks | $8.1bn | $4.4bn | $12.6bn | 0.6% | 26 | Dec 31, 2025 |
| 2 | IWM | iShares Russell 2000 ETF | U.S. stocks | $1.9bn | $2.3bn | $4.3bn | 1.7% | 15 | Mar 31, 2026 |
| 3 | XLF | State Street Financial Select Sector SPDR ETF | Sector stocks | $1.2bn | $120m | $1.3bn | 1.0% | 21 | Sep 30, 2025 |
| 4 | SMH | VanEck Semiconductor ETF | Themes | $488m | $593m | $1.1bn | 1.5% | 17 | Sep 30, 2025 |
| 5 | XLV | State Street Health Care Select Sector SPDR ETF | Sector stocks | $774m | $155m | $929m | 1.6% | 23 | Sep 30, 2025 |
| 6 | QQQM | Invesco NASDAQ 100 ETF | U.S. stocks | $843m | $44.9m | $887m | 2.5% | 14 | Aug 31, 2025 |
| 7 | ARKK | ARK Innovation ETF | Themes | $404m | $411m | $815m | 3.7% | 15 | Jul 31, 2025 |
| 8 | XLY | State Street Consumer Discretionary Select Sector SPDR ETF | Sector stocks | $517m | $143m | $659m | 1.8% | 16 | Sep 30, 2025 |
| 9 | XLI | State Street Industrial Select Sector SPDR ETF | Sector stocks | $483m | $82.1m | $565m | 1.1% | 23 | Sep 30, 2025 |
| 10 | VGT | Vanguard Information Tech ETF | Sector stocks | $453m | $0 | $453m | 1.7% | 15 | Aug 31, 2025 |
| 11 | SDVY | First Trust SMID Cap Rising Dividend Achievers ETF | U.S. stocks | $448m | $0 | $448m | 6.7% | 8 | Sep 30, 2024 |
| 12 | XLP | State Street Consumer Staples Select Sector SPDR ETF | Sector stocks | $175m | $263m | $437m | 1.0% | 23 | Sep 30, 2025 |
| 13 | VTWO | Vanguard Russell 2000 ETF | U.S. stocks | $399m | $29.8m | $429m | 4.4% | 14 | Aug 31, 2025 |
| 14 | SOXL | Direxion Daily Semiconductor Bull 3X ETF | Leverage | $236m | $183m | $420m | 0.9% | 9 | Oct 31, 2025 |
| 15 | TSLL | Direxion Daily TSLA Bull 2X ETF | Leverage | $86.8m | $329m | $416m | 1.8% | 11 | Oct 31, 2025 |
| 16 | XLK | State Street Technology Select Sector SPDR ETF | Sector stocks | $267m | $111m | $378m | 0.8% | 18 | Sep 30, 2025 |
| 17 | XLU | State Street Utilities Select Sector SPDR ETF | Sector stocks | $244m | $131m | $375m | 1.3% | 22 | Sep 30, 2025 |
| 18 | MTUM | iShares MSCI USA Momentum Factor ETF | U.S. stocks | $301m | $46.9m | $347m | 2.2% | 13 | Jul 31, 2025 |
| 19 | KBWB | Invesco KBW Bank ETF | Sector stocks | $269m | $59.4m | $329m | 4.0% | 14 | Aug 31, 2025 |
| 20 | SOXX | iShares Semiconductor ETF | Themes | $204m | $107m | $311m | 0.3% | 18 | Mar 31, 2026 |
| 21 | XLE | State Street Energy Select Sector SPDR ETF | Sector stocks | $257m | $45.5m | $303m | 0.7% | 21 | Sep 30, 2025 |
| 22 | XLB | State Street Materials Select Sector SPDR ETF | Sector stocks | $279m | $23.4m | $302m | 1.6% | 20 | Sep 30, 2025 |
| 23 | USMV | iShares MSCI USA Min Vol Factor ETF | U.S. stocks | $82.2m | $207m | $289m | 2.0% | 14 | Jul 31, 2025 |
| 24 | QUAL | iShares MSCI USA Quality Factor ETF | U.S. stocks | $250m | $34.9m | $285m | 1.3% | 13 | Jul 31, 2025 |
| 25 | XLC | State Street Communication Services Select Sector SPDR ETF | Sector stocks | $175m | $84.9m | $260m | 0.7% | 18 | Sep 30, 2025 |
| 26 | IVV | iShares Core S&P 500 ETF | U.S. stocks | $66.7m | $164m | $231m | 0.0% | 25 | Mar 31, 2026 |
| 27 | RSP | Invesco S&P 500 Equal Weight ETF | U.S. stocks | $215m | $0 | $215m | 0.3% | 19 | Apr 30, 2026 |
| 28 | VOO | Vanguard S&P 500 ETF | U.S. stocks | $45.5m | $166m | $211m | 0.0% | 21 | Dec 31, 2025 |
| 29 | SOXS | Direxion Daily Semiconductor Bear 3X ETF | Leverage | $19.4m | $191m | $211m | 1.3% | 8 | Oct 31, 2025 |
| 30 | XLRE | State Street Real Estate Select Sector SPDR ETF | Sector stocks | $142m | $23.9m | $166m | 2.0% | 18 | Sep 30, 2025 |
| 31 | LABU | Direxion Daily S&P Biotech Bull 3X ETF | Leverage | $44.7m | $114m | $159m | 6.4% | 7 | Oct 31, 2025 |
| 32 | ARKG | ARK Genomic Revolution ETF | Themes | $87.8m | $56.4m | $144m | 3.6% | 14 | Jul 31, 2025 |
| 33 | ESGU | iShares ESG Aware MSCI USA ETF | U.S. stocks | $139m | $0 | $139m | 2.8% | 11 | Aug 31, 2025 |
| 34 | SPLV | Invesco S&P 500 Low Volatility ETF | U.S. stocks | $45.3m | $67.0m | $112m | 1.2% | 13 | Aug 31, 2025 |
| 35 | MGK | Vanguard Morningstar Mega Cap Growth ETF | U.S. stocks | $107m | $0 | $107m | 1.0% | 12 | Sep 30, 2025 |
| 36 | TMF | Direxion Daily 20+ Year Treasury Bull 3X ETF | Leverage | $65.4m | $36.7m | $102m | 1.4% | 9 | Oct 31, 2025 |
| 37 | FTEC | Fidelity MSCI Information Technology Index ETF | Sector stocks | $102m | $0 | $102m | 5.3% | 8 | Jul 31, 2025 |
| 38 | TNA | Direxion Daily Small Cap Bull 3X ETF | Leverage | $101m | $0 | $101m | 1.6% | 7 | Oct 31, 2025 |
| 39 | IYR | iShares U.S. Real Estate ETF | Sector stocks | $76.9m | $19.3m | $96.3m | 0.4% | 18 | Mar 31, 2026 |
| 40 | PFF | iShares Preferred and Income Securities ETF | Bonds | $61.3m | $32.1m | $93.4m | 3.0% | 10 | Mar 31, 2026 |
| 41 | VONG | Vanguard Russell 1000 Growth ETF | U.S. stocks | $93.0m | $0 | $93.0m | 0.7% | 12 | Aug 31, 2025 |
| 42 | VPU | Vanguard Utilities ETF | Sector stocks | $68.6m | $21.1m | $89.7m | 5.5% | 12 | Aug 31, 2025 |
| 43 | VDE | Vanguard Energy ETF | Sector stocks | $23.0m | $64.4m | $87.4m | 3.0% | 13 | Aug 31, 2025 |
| 44 | SKYY | First Trust Cloud Computing ETF | Themes | $9.2m | $48.8m | $58.0m | 8.1% | 6 | Sep 30, 2024 |
| 45 | FTXO | First Trust Nasdaq Bank ETF | Sector stocks | $22.4m | $33.2m | $55.6m | 2.9% | 11 | Mar 31, 2026 |
| 46 | PPH | VanEck Pharmaceutical ETF | Sector stocks | $9.2m | $44.6m | $53.8m | 1.5% | 14 | Sep 30, 2025 |
| 47 | MOAT | VanEck Morningstar Wide Moat ETF | U.S. stocks | $33.6m | $14.4m | $48.1m | 0.2% | 13 | Sep 30, 2025 |
| 48 | DPST | Direxion Daily Regional Banks Bull 3X ETF | Leverage | $7.0m | $38.2m | $45.2m | 2.4% | 7 | Oct 31, 2025 |
| 49 | QQXT | First Trust Nasdaq-100 Ex-Technology Sector Index Fund | U.S. stocks | $13.6m | $24.2m | $37.8m | 1.5% | 11 | Dec 31, 2025 |
| 50 | FXU | First Trust Utilities AlphaDEX Fund | Sector stocks | $36.9m | $0 | $36.9m | 1.7% | 12 | Jul 31, 2025 |
| 51 | FAS | Direxion Daily Financial Bull 3X ETF | Leverage | $33.6m | $0 | $33.6m | 0.8% | 9 | Oct 31, 2025 |
| 52 | FXO | First Trust Financials AlphaDEX Fund | U.S. stocks | $30.8m | $0 | $30.8m | 1.3% | 11 | Jul 31, 2025 |
| 53 | FXD | First Trust Consumer Discretionary AlphaDEX Fund | U.S. stocks | $0 | $29.0m | $29.0m | 1.5% | 11 | Jul 31, 2025 |
| 54 | TECL | Direxion Daily Technology Bull 3X ETF | Leverage | $22.1m | $4.6m | $26.7m | 0.9% | 8 | Oct 31, 2025 |
| 55 | GUSH | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF | Leverage | $0 | $26.4m | $26.4m | 7.5% | 7 | Oct 31, 2025 |
| 56 | SCHD | Schwab U.S. Dividend Equity ETF | U.S. stocks | $25.1m | $0 | $25.1m | 0.1% | 12 | Aug 31, 2025 |
| 57 | VUG | Vanguard Morningstar Growth ETF | U.S. stocks | $24.3m | $0 | $24.3m | 0.0% | 14 | Dec 31, 2025 |
| 58 | SPXS | Direxion Daily S&P 500 Bear 3X ETF | Leverage | $0 | $24.2m | $24.2m | 1.0% | 7 | Oct 31, 2025 |
| 59 | MISL | First Trust Indxx Aerospace & Defense ETF | Themes | $22.7m | $0 | $22.7m | 1.6% | 10 | Dec 31, 2025 |
| 60 | YINN | Direxion Daily FTSE China Bull 3X ETF | Leverage | $0 | $22.3m | $22.3m | 1.1% | 8 | Oct 31, 2025 |
| 61 | VO | Vanguard Morningstar Mid-Cap ETF | U.S. stocks | $21.9m | $0 | $21.9m | 0.0% | 14 | Dec 31, 2025 |
| 62 | NUGT | Direxion Daily Gold Miners Index Bull 2X ETF | Leverage | $21.5m | $0 | $21.5m | 1.5% | 7 | Oct 31, 2025 |
| 63 | SPYV | State Street SPDR Portfolio S&P 500 Value ETF | U.S. stocks | $21.3m | $0 | $21.3m | 0.1% | 13 | Jun 30, 2026 |
| 64 | FTXR | First Trust Nasdaq Transportation ETF | U.S. stocks | $20.6m | $0 | $20.6m | 2.0% | 11 | Mar 31, 2026 |
| 65 | IWP | iShares Russell Mid-Cap Growth ETF | U.S. stocks | $20.2m | $0 | $20.2m | 0.2% | 13 | Mar 31, 2026 |
| 66 | YANG | Direxion Daily FTSE China Bear 3X ETF | Leverage | $0 | $20.1m | $20.1m | 0.9% | 8 | Oct 31, 2025 |
| 67 | IYW | iShares U.S. Technology ETF | Sector stocks | $0 | $19.7m | $19.7m | 0.1% | 13 | Apr 30, 2026 |
| 68 | TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | Leverage | $12.0m | $6.7m | $18.7m | 3.0% | 8 | Oct 31, 2025 |
| 69 | JNUG | Direxion Daily Junior Gold Miners Index Bull 2X ETF | Leverage | $14.6m | $2.1m | $16.8m | 2.7% | 7 | Oct 31, 2025 |
| 70 | QTEC | First Trust NASDAQ-100-Technology Sector Index Fund | Sector stocks | $0 | $16.5m | $16.5m | 0.6% | 11 | Dec 31, 2025 |
| 71 | ERX | Direxion Daily Energy Bull 2X ETF | Leverage | $0 | $16.5m | $16.5m | 7.0% | 7 | Oct 31, 2025 |
| 72 | DUST | Direxion Daily Gold Miners Index Bear 2X ETF | Leverage | $0 | $15.7m | $15.7m | 1.6% | 8 | Oct 31, 2025 |
| 73 | BAI | iShares A.I. Innovation and Tech Active ETF | Themes | $15.5m | $0 | $15.5m | 0.1% | 12 | Apr 30, 2026 |
| 74 | JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | Leverage | $0 | $15.0m | $15.0m | 2.8% | 8 | Oct 31, 2025 |
| 75 | SPHB | Invesco S&P 500 High Beta ETF | U.S. stocks | $910k | $12.9m | $13.8m | 0.9% | 12 | Aug 31, 2025 |
| 76 | TSLS | Direxion Daily TSLA Bear 1X ETF | Leverage | $0 | $13.5m | $13.5m | 1.2% | 8 | Oct 31, 2025 |
| 77 | NAIL | Direxion Daily Homebuilders & Supplies Bull 3X ETF | Leverage | $6.7m | $6.6m | $13.3m | 0.9% | 7 | Oct 31, 2025 |
| 78 | FTXL | First Trust Nasdaq Semiconductor ETF | Themes | $11.8m | $0 | $11.8m | 0.6% | 9 | Mar 31, 2026 |
| 79 | TZA | Direxion Daily Small Cap Bear 3X ETF | Leverage | $0 | $11.2m | $11.2m | 0.4% | 8 | Oct 31, 2025 |
| 80 | SPYD | State Street SPDR Portfolio S&P 500 High Dividend ETF | U.S. stocks | $9.7m | $0 | $9.7m | 0.2% | 13 | Jun 30, 2026 |
| 81 | SPDN | Direxion Daily S&P 500 Bear 1X ETF | Leverage | $1.1m | $7.7m | $8.8m | 0.4% | 9 | Oct 31, 2025 |
| 82 | CWEB | Direxion Daily CSI China Internet Index Bull 2X ETF | Leverage | $0 | $7.0m | $7.0m | 2.5% | 6 | Oct 31, 2025 |
| 83 | XHE | State Street SPDR S&P Health Care Equipment ETF | Sector stocks | $6.8m | $0 | $6.8m | 2.0% | 11 | Jun 30, 2026 |
| 84 | LABD | Direxion Daily S&P Biotech Bear 3X ETF | Leverage | $1.4m | $5.2m | $6.6m | 0.5% | 7 | Oct 31, 2025 |
| 85 | RSPH | Invesco S&P 500 Equal Weight Health Care ETF | Sector stocks | $0 | $5.5m | $5.5m | 3.1% | 10 | Apr 30, 2026 |
| 86 | WEBL | Direxion Daily Dow Jones Internet Bull 3X ETF | Leverage | $0 | $4.9m | $4.9m | 5.3% | 6 | Oct 31, 2025 |
| 87 | WTV | WisdomTree U.S. Value Fund | U.S. stocks | $4.5m | $0 | $4.5m | 0.1% | 10 | Mar 31, 2026 |
| 88 | DIVB | iShares Core Dividend ETF | U.S. stocks | $0 | $2.8m | $2.8m | 0.3% | 10 | Apr 30, 2026 |
| 89 | RSPM | Invesco S&P 500 Equal Weight Materials ETF | Sector stocks | $2.3m | $0 | $2.3m | 2.5% | 10 | Apr 30, 2026 |
| 90 | WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | Leverage | $2.3m | $0 | $2.3m | 10.3% | 6 | Oct 31, 2025 |
| 91 | TECS | Direxion Daily Technology Bear 3X ETF | Leverage | $2.3m | $0 | $2.3m | 0.4% | 7 | Oct 31, 2025 |
| 92 | DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | Leverage | $1.9m | $0 | $1.9m | 0.7% | 7 | Oct 31, 2025 |
| 93 | HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | Leverage | $0 | $1.8m | $1.8m | 1.1% | 6 | Oct 31, 2025 |
| 94 | PBE | Invesco Biotechnology & Genome ETF | Themes | $1.7m | $0 | $1.7m | 3.2% | 7 | Apr 30, 2026 |
| 95 | DRN | Direxion Daily Real Estate Bull 3X ETF | Leverage | $0 | $1.3m | $1.3m | 1.8% | 5 | Oct 31, 2025 |
| 96 | CSD | Invesco S&P Spin-Off ETF | U.S. stocks | $1.1m | $0 | $1.1m | 1.3% | 6 | Apr 30, 2026 |
| 97 | OUSM | ALPS O'Shares U.S. Small-Cap Quality Dividend ETF | U.S. stocks | $0 | $1.1m | $1.1m | 0.3% | 8 | Nov 30, 2025 |
| 98 | ERY | Direxion Daily Energy Bear 2X ETF | Leverage | $0 | $1.0m | $1.0m | 1.3% | 7 | Oct 31, 2025 |
HRT Financial LP as an ETF authorized participant: all 98 funds it created or redeemed in, ranked by what it created and redeemed, in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026. Source: ETFIQ from Form N-CEN.
HRT Financial by category
The ETFs HRT Financial LP serves, by the category each is placed in, with what it created and redeemed in each.
| # | Category | Share of its dollars | ETFs served | Active in | Created | Redeemed | Only active AP in |
|---|---|---|---|---|---|---|---|
| 1 | U.S. stocks | 64.7% | 389 | 31 | $13.3bn | $7.6bn | 0 |
| 2 | International stocks | 0.0% | 287 | 0 | $0 | $0 | 0 |
| 3 | Sector stocks | 21.9% | 151 | 25 | $5.6bn | $1.5bn | 0 |
| 4 | Bonds | 0.3% | 383 | 1 | $61.3m | $32.1m | 0 |
| 5 | Commodities | 0.0% | 9 | 0 | $0 | $0 | 0 |
| 6 | Allocation | 0.0% | 15 | 0 | $0 | $0 | 0 |
| 7 | Buffer | 0.0% | 8 | 0 | $0 | $0 | 0 |
| 8 | Income | 0.0% | 55 | 0 | $0 | $0 | 0 |
| 9 | Themes | 7.6% | 178 | 9 | $1.2bn | $1.2bn | 0 |
| 10 | Leverage | 5.5% | 163 | 32 | $680m | $1.1bn | 0 |
| 11 | Crypto | 0.0% | 2 | 0 | $0 | $0 | 0 |
| 12 | Alternatives | 0.0% | 17 | 0 | $0 | $0 | 0 |
Questions people ask
Is HRT Financial an ETF authorized participant (AP)?
Yes. HRT Financial LP is listed as an AP for 1,657 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026, and created or redeemed shares in 98 of them.
Which ETFs does HRT Financial create and redeem the most?
By dollars created and redeemed: SPY, $12.6bn; IWM, $4.3bn; XLF, $1.3bn; SMH, $1.1bn; XLV, $929m.
How much of an ETF’s AP activity does HRT Financial handle?
Across the 98 funds it was active in, its share of each fund’s AP dollars ran from 0.0% to 10.3%. It was the only active AP in 0 ETFs.
Where do these figures come from?
From item E.2 of each ETF’s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by HRT Financial’s CRD, SEC file number and LEI, never by the name as typed.
Method
HRT Financial LP is identified by CRD 152144, SEC file number 8-68430, LEI 21380037YFKONTT23854. It is on the SEC’s list of active broker-dealers dated Oct 1, 2026 as HRT FINANCIAL LP. Funds filed its name 6 ways; every spelling is in dealers.json. Every row is one authorized participant (AP) listed in item E.2 of an ETF’s latest Form N-CEN, with the dollars of the fund’s shares it purchased from the fund (created) and redeemed in the fund’s reporting period, as filed. A fund’s period is its own fiscal year, or less where the filing says so, so a firm’s total adds periods that end on different days. Rows are grouped into firms by the identifiers each row carries: the CRD number first, the SEC file number and LEI where the CRD is missing or typed wrong, never by name. 71 of 75,056 rows carry a CRD their file number and LEI place on another firm, and are counted there.
The rest of the method
A firm’s name is its registration on the SEC’s list of active broker-dealers where it is on it. Spot crypto and commodity trusts and ETNs file no N-CEN and are not here.
Where to next
Most active APs for U.S. stock ETFs→Most active APs for international stock ETFs→Most active APs for sector stock ETFs→Every ETF authorized participant (AP)→The most active APs→Most active APs for U.S. stock ETFs→Most active APs for international stock ETFs→Most active APs for sector stock ETFs→Most active APs for bond ETFs→ETF lead market makers (LMMs)→How the AP list is built→The open data file→Fund flows→
Where these figures came from
SEC Form N-CEN data sets, the source of every AP row ↗Form N-CEN, item E.2: each authorized participant and its dollars ↗SEC list of active broker-dealers, the source of each firm’s registered name ↗
ETFIQ links to the documents behind every figure; a link is not an endorsement. A list of firms is not a rating or a recommendation.
Questions people ask
Is HRT Financial an ETF authorized participant (AP)?
Yes. HRT Financial LP is listed as an AP for 1,657 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026, and created or redeemed shares in 98 of them.
Which ETFs does HRT Financial create and redeem the most?
By dollars created and redeemed: SPY, $12.6bn; IWM, $4.3bn; XLF, $1.3bn; SMH, $1.1bn; XLV, $929m.
How much of an ETF’s AP activity does HRT Financial handle?
Across the 98 funds it was active in, its share of each fund’s AP dollars ran from 0.0% to 10.3%. It was the only active AP in 0 ETFs.
Where do these figures come from?
From item E.2 of each ETF’s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by HRT Financial’s CRD, SEC file number and LEI, never by the name as typed.
Cite this pageCitation, APA and Markdown
ETFIQ, HRT Financial LP as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/hrt-financial/
ETFIQ. (Sep 23, 2026). HRT Financial LP as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/hrt-financial/
[HRT Financial LP as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/hrt-financial/)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.