Spear, Leeds & Kellogg

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Spear, Leeds & Kellogg
Founded 1931
Headquarters Jersey City, NJ
Employees 2,500

Spear, Leeds & Kellogg Specialists LLC is a specialist on the New York Stock Exchange. It is a subsidiary of Goldman Sachs Group. The firm was founded as in 1931 as Spear, Leeds & Co. by Harry Spear and Larry Leeds. James Kellogg joined the firm in 1941.[1]

Goldman Sachs acquired it in 2000.


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SLK has long been known as a leading specialist on the New York Stock Exchange. In 2004 SLK and four other specialist firms paid $240 million to settle with the Securities and Exchange Commission (SEC), which accused them of "front-running," artificially inflating the price of shares they held as a way to skim additional profits. In recent years, SLK has expanded beyond its traditional function as a market maker to offer other services, such as clearing, trading, and reporting tools. It also offers financing to customers and loans out stocks, especially hard-to-borrow securities. In addition it provides custody reporting services and a Web-based portfolio accounting system.

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  1. Spear, Leeds & Kellogg. fundinguniverse.com.