{"url":"https://etfiq.com/trading/authorized-participants/hrt-financial/","section":"trading","title":"HRT Financial: ETF Authorized Participant (AP) | ETFIQ","description":"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. 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participant","alternateName":["AP","authorised participant"],"description":"A broker-dealer that has an agreement with an ETF to create new shares by delivering a basket of securities or cash to the fund, and to redeem shares by handing them back.","inDefinedTermSet":"https://etfiq.com/methodology/authorized-participants#glossary"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Is HRT Financial an ETF authorized participant (AP)?","acceptedAnswer":{"@type":"Answer","text":"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."}},{"@type":"Question","name":"Which ETFs does HRT Financial create and redeem the most?","acceptedAnswer":{"@type":"Answer","text":"By dollars created and redeemed: SPY, $12.6bn; IWM, $4.3bn; XLF, $1.3bn; SMH, $1.1bn; XLV, $929m."}},{"@type":"Question","name":"How much of an ETF\u2019s AP activity does HRT Financial handle?","acceptedAnswer":{"@type":"Answer","text":"Across the 98 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.0% to 10.3%. It was the only active AP in 0 ETFs."}},{"@type":"Question","name":"Where do these figures come from?","acceptedAnswer":{"@type":"Answer","text":"From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by HRT Financial\u2019s CRD, SEC file number and LEI, never by the name as typed."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Authorized participants","item":"https://etfiq.com/trading/authorized-participants/"},{"@type":"ListItem","position":3,"name":"HRT Financial","item":"https://etfiq.com/trading/authorized-participants/hrt-financial/"}]},{"@type":"WebPage","name":"HRT Financial: ETF Authorized Participant (AP)","description":"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. Facts only.","url":"https://etfiq.com/trading/authorized-participants/hrt-financial/","dateModified":"2026-09-23","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":14531,"truncated":false,"content":"ETFIQ / Authorized participants / HRT Financial \n \n As of Sep 23, 2026 . From each ETF\u2019s latest Form N-CEN.\n HRT Financial LP\n 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.\n hudsonrivertrading.com \n 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. # Ticker Fund Category Created Redeemed Created and redeemed Share of the fund\u2019s AP dollars Active APs in the fund Period ending \n 1 SPY SPDR S&P 500 ETF Trust U.S. stocks $8.1bn $4.4bn $12.6bn 0.6% 26 Dec 31, 2025 \n 2 IWM iShares Russell 2000 ETF U.S. stocks $1.9bn $2.3bn $4.3bn 1.7% 15 Mar 31, 2026 \n 3 XLF State Street Financial Select Sector SPDR ETF Sector stocks $1.2bn $120m $1.3bn 1.0% 21 Sep 30, 2025 \n 4 SMH VanEck Semiconductor ETF Themes $488m $593m $1.1bn 1.5% 17 Sep 30, 2025 \n 5 XLV State Street Health Care Select Sector SPDR ETF Sector stocks $774m $155m $929m 1.6% 23 Sep 30, 2025 \n 6 QQQM Invesco NASDAQ 100 ETF U.S. stocks $843m $44.9m $887m 2.5% 14 Aug 31, 2025 \n 7 ARKK ARK Innovation ETF Themes $404m $411m $815m 3.7% 15 Jul 31, 2025 \n 8 XLY State Street Consumer Discretionary Select Sector SPDR ETF Sector stocks $517m $143m $659m 1.8% 16 Sep 30, 2025 \n 9 XLI State Street Industrial Select Sector SPDR ETF Sector stocks $483m $82.1m $565m 1.1% 23 Sep 30, 2025 \n 10 VGT Vanguard Information Tech ETF Sector stocks $453m $0 $453m 1.7% 15 Aug 31, 2025 \n 11 SDVY First Trust SMID Cap Rising Dividend Achievers ETF U.S. stocks $448m $0 $448m 6.7% 8 Sep 30, 2024 \n 12 XLP State Street Consumer Staples Select Sector SPDR ETF Sector stocks $175m $263m $437m 1.0% 23 Sep 30, 2025 \n 13 VTWO Vanguard Russell 2000 ETF U.S. stocks $399m $29.8m $429m 4.4% 14 Aug 31, 2025 \n 14 SOXL Direxion Daily Semiconductor Bull 3X ETF Leverage $236m $183m $420m 0.9% 9 Oct 31, 2025 \n 15 TSLL Direxion Daily TSLA Bull 2X ETF Leverage $86.8m $329m $416m 1.8% 11 Oct 31, 2025 \n 16 XLK State Street Technology Select Sector SPDR ETF Sector stocks $267m $111m $378m 0.8% 18 Sep 30, 2025 \n 17 XLU State Street Utilities Select Sector SPDR ETF Sector stocks $244m $131m $375m 1.3% 22 Sep 30, 2025 \n 18 MTUM iShares MSCI USA Momentum Factor ETF U.S. stocks $301m $46.9m $347m 2.2% 13 Jul 31, 2025 \n 19 KBWB Invesco KBW Bank ETF Sector stocks $269m $59.4m $329m 4.0% 14 Aug 31, 2025 \n 20 SOXX iShares Semiconductor ETF Themes $204m $107m $311m 0.3% 18 Mar 31, 2026 \n 21 XLE State Street Energy Select Sector SPDR ETF Sector stocks $257m $45.5m $303m 0.7% 21 Sep 30, 2025 \n 22 XLB State Street Materials Select Sector SPDR ETF Sector stocks $279m $23.4m $302m 1.6% 20 Sep 30, 2025 \n 23 USMV iShares MSCI USA Min Vol Factor ETF U.S. stocks $82.2m $207m $289m 2.0% 14 Jul 31, 2025 \n 24 QUAL iShares MSCI USA Quality Factor ETF U.S. stocks $250m $34.9m $285m 1.3% 13 Jul 31, 2025 \n 25 XLC State Street Communication Services Select Sector SPDR ETF Sector stocks $175m $84.9m $260m 0.7% 18 Sep 30, 2025 \n 26 IVV iShares Core S&P 500 ETF U.S. stocks $66.7m $164m $231m 0.0% 25 Mar 31, 2026 \n 27 RSP Invesco S&P 500 Equal Weight ETF U.S. stocks $215m $0 $215m 0.3% 19 Apr 30, 2026 \n 28 VOO Vanguard S&P 500 ETF U.S. stocks $45.5m $166m $211m 0.0% 21 Dec 31, 2025 \n 29 SOXS Direxion Daily Semiconductor Bear 3X ETF Leverage $19.4m $191m $211m 1.3% 8 Oct 31, 2025 \n 30 XLRE State Street Real Estate Select Sector SPDR ETF Sector stocks $142m $23.9m $166m 2.0% 18 Sep 30, 2025 \n 31 LABU Direxion Daily S&P Biotech Bull 3X ETF Leverage $44.7m $114m $159m 6.4% 7 Oct 31, 2025 \n 32 ARKG ARK Genomic Revolution ETF Themes $87.8m $56.4m $144m 3.6% 14 Jul 31, 2025 \n 33 ESGU iShares ESG Aware MSCI USA ETF U.S. stocks $139m $0 $139m 2.8% 11 Aug 31, 2025 \n 34 SPLV Invesco S&P 500 Low Volatility ETF U.S. stocks $45.3m $67.0m $112m 1.2% 13 Aug 31, 2025 \n 35 MGK Vanguard Morningstar Mega Cap Growth ETF U.S. stocks $107m $0 $107m 1.0% 12 Sep 30, 2025 \n 36 TMF Direxion Daily 20+ Year Treasury Bull 3X ETF Leverage $65.4m $36.7m $102m 1.4% 9 Oct 31, 2025 \n 37 FTEC Fidelity MSCI Information Technology Index ETF Sector stocks $102m $0 $102m 5.3% 8 Jul 31, 2025 \n 38 TNA Direxion Daily Small Cap Bull 3X ETF Leverage $101m $0 $101m 1.6% 7 Oct 31, 2025 \n 39 IYR iShares U.S. Real Estate ETF Sector stocks $76.9m $19.3m $96.3m 0.4% 18 Mar 31, 2026 \n 40 PFF iShares Preferred and Income Securities ETF Bonds $61.3m $32.1m $93.4m 3.0% 10 Mar 31, 2026 \n 41 VONG Vanguard Russell 1000 Growth ETF U.S. stocks $93.0m $0 $93.0m 0.7% 12 Aug 31, 2025 \n 42 VPU Vanguard Utilities ETF Sector stocks $68.6m $21.1m $89.7m 5.5% 12 Aug 31, 2025 \n 43 VDE Vanguard Energy ETF Sector stocks $23.0m $64.4m $87.4m 3.0% 13 Aug 31, 2025 \n 44 SKYY First Trust Cloud Computing ETF Themes $9.2m $48.8m $58.0m 8.1% 6 Sep 30, 2024 \n 45 FTXO First Trust Nasdaq Bank ETF Sector stocks $22.4m $33.2m $55.6m 2.9% 11 Mar 31, 2026 \n 46 PPH VanEck Pharmaceutical ETF Sector stocks $9.2m $44.6m $53.8m 1.5% 14 Sep 30, 2025 \n 47 MOAT VanEck Morningstar Wide Moat ETF U.S. stocks $33.6m $14.4m $48.1m 0.2% 13 Sep 30, 2025 \n 48 DPST Direxion Daily Regional Banks Bull 3X ETF Leverage $7.0m $38.2m $45.2m 2.4% 7 Oct 31, 2025 \n 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 \n 50 FXU First Trust Utilities AlphaDEX Fund Sector stocks $36.9m $0 $36.9m 1.7% 12 Jul 31, 2025 \n 51 FAS Direxion Daily Financial Bull 3X ETF Leverage $33.6m $0 $33.6m 0.8% 9 Oct 31, 2025 \n 52 FXO First Trust Financials AlphaDEX Fund U.S. stocks $30.8m $0 $30.8m 1.3% 11 Jul 31, 2025 \n 53 FXD First Trust Consumer Discretionary AlphaDEX Fund U.S. stocks $0 $29.0m $29.0m 1.5% 11 Jul 31, 2025 \n 54 TECL Direxion Daily Technology Bull 3X ETF Leverage $22.1m $4.6m $26.7m 0.9% 8 Oct 31, 2025 \n 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 \n 56 SCHD Schwab U.S. Dividend Equity ETF U.S. stocks $25.1m $0 $25.1m 0.1% 12 Aug 31, 2025 \n 57 VUG Vanguard Morningstar Growth ETF U.S. stocks $24.3m $0 $24.3m 0.0% 14 Dec 31, 2025 \n 58 SPXS Direxion Daily S&P 500 Bear 3X ETF Leverage $0 $24.2m $24.2m 1.0% 7 Oct 31, 2025 \n 59 MISL First Trust Indxx Aerospace & Defense ETF Themes $22.7m $0 $22.7m 1.6% 10 Dec 31, 2025 \n 60 YINN Direxion Daily FTSE China Bull 3X ETF Leverage $0 $22.3m $22.3m 1.1% 8 Oct 31, 2025 \n 61 VO Vanguard Morningstar Mid-Cap ETF U.S. stocks $21.9m $0 $21.9m 0.0% 14 Dec 31, 2025 \n 62 NUGT Direxion Daily Gold Miners Index Bull 2X ETF Leverage $21.5m $0 $21.5m 1.5% 7 Oct 31, 2025 \n 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 \n 64 FTXR First Trust Nasdaq Transportation ETF U.S. stocks $20.6m $0 $20.6m 2.0% 11 Mar 31, 2026 \n 65 IWP iShares Russell Mid-Cap Growth ETF U.S. stocks $20.2m $0 $20.2m 0.2% 13 Mar 31, 2026 \n 66 YANG Direxion Daily FTSE China Bear 3X ETF Leverage $0 $20.1m $20.1m 0.9% 8 Oct 31, 2025 \n 67 IYW iShares U.S. Technology ETF Sector stocks $0 $19.7m $19.7m 0.1% 13 Apr 30, 2026 \n 68 TMV Direxion Daily 20+ Year Treasury Bear 3X ETF Leverage $12.0m $6.7m $18.7m 3.0% 8 Oct 31, 2025 \n 69 JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF Leverage $14.6m $2.1m $16.8m 2.7% 7 Oct 31, 2025 \n 70 QTEC First Trust NASDAQ-100-Technology Sector Index Fund Sector stocks $0 $16.5m $16.5m 0.6% 11 Dec 31, 2025 \n 71 ERX Direxion Daily Energy Bull 2X ETF Leverage $0 $16.5m $16.5m 7.0% 7 Oct 31, 2025 \n 72 DUST Direxion Daily Gold Miners Index Bear 2X ETF Leverage $0 $15.7m $15.7m 1.6% 8 Oct 31, 2025 \n 73 BAI iShares A.I. Innovation and Tech Active ETF Themes $15.5m $0 $15.5m 0.1% 12 Apr 30, 2026 \n 74 JDST Direxion Daily Junior Gold Miners Index Bear 2X ETF Leverage $0 $15.0m $15.0m 2.8% 8 Oct 31, 2025 \n 75 SPHB Invesco S&P 500 High Beta ETF U.S. stocks $910k $12.9m $13.8m 0.9% 12 Aug 31, 2025 \n 76 TSLS Direxion Daily TSLA Bear 1X ETF Leverage $0 $13.5m $13.5m 1.2% 8 Oct 31, 2025 \n 77 NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF Leverage $6.7m $6.6m $13.3m 0.9% 7 Oct 31, 2025 \n 78 FTXL First Trust Nasdaq Semiconductor ETF Themes $11.8m $0 $11.8m 0.6% 9 Mar 31, 2026 \n 79 TZA Direxion Daily Small Cap Bear 3X ETF Leverage $0 $11.2m $11.2m 0.4% 8 Oct 31, 2025 \n 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 \n 81 SPDN Direxion Daily S&P 500 Bear 1X ETF Leverage $1.1m $7.7m $8.8m 0.4% 9 Oct 31, 2025 \n 82 CWEB Direxion Daily CSI China Internet Index Bull 2X ETF Leverage $0 $7.0m $7.0m 2.5% 6 Oct 31, 2025 \n 83 XHE State Street SPDR S&P Health Care Equipment ETF Sector stocks $6.8m $0 $6.8m 2.0% 11 Jun 30, 2026 \n 84 LABD Direxion Daily S&P Biotech Bear 3X ETF Leverage $1.4m $5.2m $6.6m 0.5% 7 Oct 31, 2025 \n 85 RSPH Invesco S&P 500 Equal Weight Health Care ETF Sector stocks $0 $5.5m $5.5m 3.1% 10 Apr 30, 2026 \n 86 WEBL Direxion Daily Dow Jones Internet Bull 3X ETF Leverage $0 $4.9m $4.9m 5.3% 6 Oct 31, 2025 \n 87 WTV WisdomTree U.S. Value Fund U.S. stocks $4.5m $0 $4.5m 0.1% 10 Mar 31, 2026 \n 88 DIVB iShares Core Dividend ETF U.S. stocks $0 $2.8m $2.8m 0.3% 10 Apr 30, 2026 \n 89 RSPM Invesco S&P 500 Equal Weight Materials ETF Sector stocks $2.3m $0 $2.3m 2.5% 10 Apr 30, 2026 \n 90 WEBS Direxion Daily Dow Jones Internet Bear 3X ETF Leverage $2.3m $0 $2.3m 10.3% 6 Oct 31, 2025 \n 91 TECS Direxion Daily Technology Bear 3X ETF Leverage $2.3m $0 $2.3m 0.4% 7 Oct 31, 2025 \n 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 \n 93 HIBS Direxion Daily S&P 500 High Beta Bear 3X ETF Leverage $0 $1.8m $1.8m 1.1% 6 Oct 31, 2025 \n 94 PBE Invesco Biotechnology & Genome ETF Themes $1.7m $0 $1.7m 3.2% 7 Apr 30, 2026 \n 95 DRN Direxion Daily Real Estate Bull 3X ETF Leverage $0 $1.3m $1.3m 1.8% 5 Oct 31, 2025 \n 96 CSD Invesco S&P Spin-Off ETF U.S. stocks $1.1m $0 $1.1m 1.3% 6 Apr 30, 2026 \n 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 \n 98 ERY Direxion Daily Energy Bear 2X ETF Leverage $0 $1.0m $1.0m 1.3% 7 Oct 31, 2025 \n \n HRT Financial by category\n The ETFs HRT Financial LP serves, by the category each is placed in, with what it created and redeemed in each.\n HRT Financial by category, as of Sep 23, 2026. Source: ETFIQ from Form N-CEN. # Category Share of its dollars ETFs served Active in Created Redeemed Only active AP in \n 1 U.S. stocks 64.7% 389 31 $13.3bn $7.6bn 0 \n 2 International stocks 0.0% 287 0 $0 $0 0 \n 3 Sector stocks 21.9% 151 25 $5.6bn $1.5bn 0 \n 4 Bonds 0.3% 383 1 $61.3m $32.1m 0 \n 5 Commodities 0.0% 9 0 $0 $0 0 \n 6 Allocation 0.0% 15 0 $0 $0 0 \n 7 Buffer 0.0% 8 0 $0 $0 0 \n 8 Income 0.0% 55 0 $0 $0 0 \n 9 Themes 7.6% 178 9 $1.2bn $1.2bn 0 \n 10 Leverage 5.5% 163 32 $680m $1.1bn 0 \n 11 Crypto 0.0% 2 0 $0 $0 0 \n 12 Alternatives 0.0% 17 0 $0 $0 0 \n \n Questions people ask\n 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\u2019s AP activity does HRT Financial handle? Across the 98 funds it was active in, its share of each fund\u2019s 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\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by HRT Financial\u2019s CRD, SEC file number and LEI, never by the name as typed. Method\n HRT Financial LP is identified by CRD 152144, SEC file number 8-68430, LEI 21380037YFKONTT23854. It is on the SEC\u2019s 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\u2019s latest Form N-CEN, with the dollars of the fund\u2019s shares it purchased from the fund (created) and redeemed in the fund\u2019s reporting period, as filed. A fund\u2019s period is its own fiscal year, or less where the filing says so, so a firm\u2019s 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. A firm\u2019s name is its registration on the SEC\u2019s 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.\n Where to next\n 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\n 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\u2019s registered name ETFIQ links to the documents behind every figure; a link is not an endorsement.\n A list of firms is not a rating or a recommendation. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, HRT Financial LP as an ETF authorized participant, data as of 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 .\n Other forms Plain ETFIQ, HRT Financial LP as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/hrt-financial/ APA ETFIQ. (Sep 23, 2026). HRT Financial LP as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/hrt-financial/ Markdown [HRT Financial LP as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/hrt-financial/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, HRT Financial LP as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/hrt-financial/"}