SPDR S&P 500 ETF TR SPY
TR UNIT · ETP · CUSIP 78462F103 · ISIN US78462F1030
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($609.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $554.19. Options: 192 managers hold calls ($304.2bn notional), 347 hold puts ($516.9bn).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 3,063 |
| Q4 2022 | 3,311 |
| Q1 2023 | 3,267 |
| Q2 2023 | 3,312 |
| Q3 2023 | 3,333 |
| Q4 2023 | 3,697 |
| Q1 2024 | 3,707 |
| Q2 2024 | 3,769 |
| Q3 2024 | 3,808 |
| Q4 2024 | 4,242 |
| Q1 2025 | 4,189 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 1,403 | 1,533 |
| Q3 2023 | 1,478 | 1,490 |
| Q4 2023 | 1,716 | 1,356 |
| Q1 2024 | 1,587 | 1,735 |
| Q2 2024 | 1,727 | 1,560 |
| Q3 2024 | 1,722 | 1,593 |
| Q4 2024 | 1,841 | 1,569 |
| Q1 2025 | 1,784 | 2,029 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $268.2bn | $562.7bn | 2.10 |
| Q3 2024 | $275.9bn | $652.4bn | 2.36 |
| Q4 2024 | $279.8bn | $573.3bn | 2.05 |
| Q1 2025 | $304.2bn | $516.9bn | 1.70 |
Biggest buyers
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +6.9m |
| BARCLAYS PLC | Added | +6.6m |
| JPMORGAN CHASE & CO | Added | +4.8m |
| Lido Advisors, LLC | Added | +3.7m |
| CITIGROUP INC | Added | +3.0m |
| UBS Group AG | Added | +2.8m |
| GOLDMAN SACHS GROUP INC | Added | +2.5m |
| BANK OF AMERICA CORP /DE/ | Added | +2.0m |
| ROYAL BANK OF CANADA | Added | +1.7m |
| MORGAN STANLEY | Added | +948.4k |
Biggest sellers
| Capula Management Ltd | Reduced | -15.9m |
| MACKENZIE FINANCIAL CORP | Reduced | -7.0m |
| Qube Research & Technologies Ltd | Reduced | -5.0m |
| Bridgewater Associates, LP | Reduced | -4.9m |
| JANE STREET GROUP, LLC | Reduced | -3.5m |
| Squarepoint Ops LLC | Reduced | -2.1m |
| CITADEL ADVISORS LLC | Reduced | -1.7m |
| HSBC HOLDINGS PLC | Reduced | -1.7m |
| HRT FINANCIAL LP | Reduced | -1.5m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -1.4m |
Biggest calls
| Optiver Holding B.V. | Added | $38.0bn67.9m shares |
| CITADEL ADVISORS LLC | Added | $32.8bn58.6m shares |
| JANE STREET GROUP, LLC | Reduced | $31.3bn56.0m shares |
| Belvedere Trading LLC | Added | $27.2bn48.6m shares |
| CTC LLC | Added | $26.7bn47.7m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $22.7bn40.5m shares |
| IMC-Chicago, LLC | Added | $15.1bn26.9m shares |
| SIMPLEX TRADING, LLC | Added | $13.0bn23.2m shares |
| BlackRock, Inc. | Added | $12.7bn22.6m shares |
| Twin Tree Management, LP | Added | $11.7bn21.0m shares |
Biggest puts
| Optiver Holding B.V. | Reduced | $49.2bn87.9m shares |
| BARCLAYS PLC | Reduced | $49.0bn87.6m shares |
| CITADEL ADVISORS LLC | Added | $43.4bn77.6m shares |
| JANE STREET GROUP, LLC | Reduced | $35.6bn63.7m shares |
| 1832 Asset Management L.P. | Reduced | $35.1bn62.7m shares |
| CTC LLC | Reduced | $35.0bn62.5m shares |
| SIMPLEX TRADING, LLC | Reduced | $29.8bn58.4m shares |
| Belvedere Trading LLC | Added | $26.3bn47.0m shares |
| IMC-Chicago, LLC | Reduced | $24.9bn44.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $24.8bn44.4m shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| JPMORGAN CHASE & CO 2.47% of their portfolio | 58.0m $32.4bn | Added +4.8m |
| GOLDMAN SACHS GROUP INC 3.69% of their portfolio | 34.8m $19.5bn | Added +2.5m |
| MORGAN STANLEY 1.37% of their portfolio | 34.3m $19.2bn | Added +948.4k |
| BANK OF AMERICA CORP /DE/ 1.58% of their portfolio | 31.8m $17.8bn | Added +2.0m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 22.05% of their portfolio | 24.0m $13.4bn | Added +6.9m |
| NORTHERN TRUST CORP 1.17% of their portfolio | 14.1m $7.9bn | Added +634.2k |
| WELLS FARGO & COMPANY/MN 1.84% of their portfolio | 13.6m $7.6bn | Added +626.8k |
| UBS Group AG 1.58% of their portfolio | 12.8m $7.1bn | Added +2.8m |
| ROYAL BANK OF CANADA 1.37% of their portfolio | 10.9m $6.1bn | Added +1.7m |
| BARCLAYS PLC 2.58% of their portfolio | 10.2m $5.7bn | Added +6.6m |
| LPL Financial LLC 1.97% of their portfolio | 9.0m $5.1bn | Added +100.2k |
| BANK OF MONTREAL /CAN/ 2.55% of their portfolio | 8.6m $4.8bn | Reduced -925.4k |
| Lido Advisors, LLC 9.27% of their portfolio | 6.4m $1.6bn | Added +3.7m |
| TD Asset Management Inc 3.26% of their portfolio | 6.3m $3.5bn | Reduced -192.5k |
| D. E. Shaw & Co., Inc. 3.83% of their portfolio | 5.8m $3.2bn | Reduced -1.0m |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 2.55% of their portfolio | 5.6m $3.1bn | Added +173.1k |
| HRT FINANCIAL LP 21.95% of their portfolio | 5.4m $3.0bn | Reduced -1.5m |
| RAYMOND JAMES FINANCIAL INC 0.99% of their portfolio | 4.7m $2.6bn | Reduced -462.9k |
| US BANCORP \DE\ 3.33% of their portfolio | 4.4m $2.5bn | Reduced -45.4k |
| PNC Financial Services Group, Inc. 1.21% of their portfolio | 4.1m $2.3bn | Reduced -32.2k |
| FMR LLC 0.14% of their portfolio | 4.0m $2.2bn | Reduced -23.6k |
| CITIGROUP INC 1.64% of their portfolio | 3.8m $2.2bn | Added +3.0m |
| Cresset Asset Management, LLC 9.74% of their portfolio | 3.5m $1.9bn | Added +119.7k |
| Bridgewater Associates, LP 8.67% of their portfolio | 3.3m $1.9bn | Reduced -4.9m |
| Gotham Asset Management, LLC 15.39% of their portfolio | 3.3m $1.8bn | Added +912.3k |
| TRUIST FINANCIAL CORP 2.90% of their portfolio | 3.2m $1.8bn | Reduced -78.6k |
| MACKENZIE FINANCIAL CORP 2.55% of their portfolio | 3.2m $1.8bn | Reduced -7.0m |
| AMERIPRISE FINANCIAL INC 0.47% of their portfolio | 3.1m $1.8bn | Reduced -257.9k |
| Silicon Valley Community Foundation 97.01% of their portfolio | 3.0m $1.7bn | Reduced -119.7k |
| Creative Planning 1.57% of their portfolio | 3.0m $1.7bn | Added +47.3k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 3.54% of their portfolio | 2.9m $1.6bn | Reduced -650.0k |
| Bank of New York Mellon Corp 0.31% of their portfolio | 2.8m $1.6bn | Reduced -515.3k |
| Alberta Investment Management Corp 10.40% of their portfolio | 2.7m $1.5bn | Reduced -3.4k |
| Clal Insurance Enterprises Holdings Ltd 15.34% of their portfolio | 2.7m $1.5bn | Added +835.8k |
| Rockefeller Capital Management L.P. 3.62% of their portfolio | 2.6m $1.5bn | Added +145.1k |
| National Mutual Insurance Federation of Agricultural Cooperatives 13.15% of their portfolio | 2.6m $1.5bn | Unchanged |
| OLD MISSION CAPITAL LLC 28.19% of their portfolio | 2.6m $1.5bn | Added +759.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.46% of their portfolio | 2.6m $1.4bn | Reduced -164.1k |
| Schonfeld Strategic Advisors LLC 9.05% of their portfolio | 2.4m $1.3bn | Reduced -221.6k |
| Pathstone Holdings, LLC 5.49% of their portfolio | 2.3m $1.3bn | Reduced -136.0k |
| Cerity Partners LLC 2.34% of their portfolio | 2.2m $1.1bn | Added +41.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 1.21% of their portfolio | 2.2m $1.3bn | Unchanged |
| Capula Management Ltd 8.98% of their portfolio | 2.2m $1.2bn | Reduced -15.9m |
| COMMONWEALTH EQUITY SERVICES, LLC 1.55% of their portfolio | 2.0m $1.1bn | Reduced -54.7k |
| HighTower Advisors, LLC 1.44% of their portfolio | 1.9m $1.1bn | Reduced -256 |
| JANE STREET GROUP, LLC 1.76% of their portfolio | 1.7m $978.9m | Reduced -3.5m |
| SUMITOMO MITSUI FINANCIAL GROUP, INC. 17.86% of their portfolio | 1.7m $974.7m | Reduced -223.3k |
| BlackRock, Inc. 0.02% of their portfolio | 1.7m $939.4m | Added +12.5k |
| STIFEL FINANCIAL CORP 0.95% of their portfolio | 1.6m $895.3m | Added +36.2k |
| TWO SIGMA INVESTMENTS, LP 1.82% of their portfolio | 1.5m $836.1m | Added +867.5k |
| Bank Julius Baer & Co. Ltd, Zurich 2.57% of their portfolio | 1.4m $792.2m | Reduced -115.5k |
| Corient Private Wealth LP 1.23% of their portfolio | 1.3m $754.1m | Added +191.5k |
| Mariner, LLC 1.24% of their portfolio | 1.3m $745.1m | Added +47.8k |
| Cetera Investment Advisers 1.44% of their portfolio | 1.3m $740.9m | Added +20.0k |
| Analyst IMS Investment Management Services Ltd. 28.66% of their portfolio | 1.3m $737.3m | Reduced -25.8k |
| BANK OF NOVA SCOTIA 1.60% of their portfolio | 1.3m $714.5m | Reduced -1.1m |
| Freedom Together Foundation 91.26% of their portfolio | 1.2m $698.1m | Reduced -170.0k |
| Norinchukin Bank, The 12.69% of their portfolio | 1.2m $689.7m | Unchanged |
| Trust Asset Management LLC 55.69% of their portfolio | 1.2m $679.3m | Reduced -383 |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 6.78% of their portfolio | 1.2m $672.5m | Added +471.5k |
| Cohen Klingenstein LLC 23.91% of their portfolio | 1.2m $660.0m | Reduced -11.8k |
| DOW CHEMICAL CO /DE/ 96.16% of their portfolio | 1.2m $658.9m | Added +252.9k |
| STATE OF MICHIGAN RETIREMENT SYSTEM 3.77% of their portfolio | 1.2m $654.2m | Reduced -995.1k |
| NISSAY ASSET MANAGEMENT CORP /JAPAN 4.23% of their portfolio | 1.2m $651.2m | Unchanged |
| Balyasny Asset Management L.P. 1.60% of their portfolio | 1.1m $638.4m | Added +513.1k |
| Swan Global Investments, LLC 31.90% of their portfolio | 1.1m $628.5m | Added +27.8k |
| OSAIC HOLDINGS, INC. 1.39% of their portfolio | 1.1m $625.9m | Added +121.1k |
| NATIXIS 3.64% of their portfolio | 1.1m $618.0m | Added +446.5k |
| Trustees of Columbia University in the City of New York 98.27% of their portfolio | 1.1m $620.6m | Added +37.5k |
| COMMON FUND FOR NONPROFIT ORGANIZATIONS 68.55% of their portfolio | 1.1m $616.6m | Added +95.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.46% of their portfolio | 1.1m $606.0m | First filing |
| CAPTRUST FINANCIAL ADVISORS 1.08% of their portfolio | 1.1m $431.0m | Added +40.2k |
| Hirtle & Co., LLC 23.13% of their portfolio | 1.1m $593.9m | Reduced -21.6k |
| CHURCHILL MANAGEMENT Corp 7.42% of their portfolio | 1.0m $584.9m | Reduced -6.8k |
| BBR PARTNERS, LLC 39.18% of their portfolio | 991.6k $554.7m | Reduced -6.0k |
| ALLIANCEBERNSTEIN L.P. 0.19% of their portfolio | 952.1k $532.6m | Reduced -2.0k |
| Valeo Financial Advisors, LLC 14.54% of their portfolio | 949.5k $521.2m | Reduced -18.0k |
| STATE STREET CORP 0.02% of their portfolio | 947.2k $531.5m | Reduced -396.0k |
| Board of Trustees of The Leland Stanford Junior University 44.83% of their portfolio | 946.1k $529.2m | Reduced -6.4k |
| Pure Financial Advisors, LLC 11.02% of their portfolio | 942.3k $527.1m | Added +58.7k |
| TEXAS TREASURY SAFEKEEPING TRUST CO 45.20% of their portfolio | 940.6k $526.2m | Added +146.3k |
| IEQ CAPITAL, LLC 4.11% of their portfolio | 924.2k $517.0m | Added +295.5k |
| Simplify Asset Management Inc. 22.77% of their portfolio | 872.1k $487.8m | New |
| BLAIR WILLIAM & CO/IL 1.44% of their portfolio | 854.4k $477.9m | Added +34.7k |
| Focus Partners Wealth 1.18% of their portfolio | 841.7k $471.0m | Reduced -897.3k |
| GLENMEDE TRUST CO NA 2.51% of their portfolio | 835.4k $467.3m | Reduced -9.0k |
| Pine Ridge Advisers LLC 39.44% of their portfolio | 823.1k $460.5m | Added +62.6k |
| Sanders Capital, LLC 0.69% of their portfolio | 821.4k $459.5m | Added +9.9k |
| Jefferies Financial Group Inc. 7.92% of their portfolio | 820.6k $459.0m | Reduced -297.0k |
| NewEdge Advisors, LLC 1.73% of their portfolio | 816.8k $291.8m | Added +158.2k |
| SG Americas Securities, LLC 1.55% of their portfolio | 813.9k $455.3m | Added +546.2k |
| FRANKLIN RESOURCES INC 0.13% of their portfolio | 795.1k $444.8m | Added +247.5k |
| HSBC HOLDINGS PLC 0.29% of their portfolio | 792.4k $439.0m | Reduced -1.7m |
| PRUDENTIAL FINANCIAL INC 0.63% of their portfolio | 792.2k $443.2m | Reduced -271 |
| Members Trust Co 15.15% of their portfolio | 777.4k $434.9m | Added +59.8k |
| MAI Capital Management 3.20% of their portfolio | 756.3k $423.1m | Added +5.4k |
| JOURNEY STRATEGIC WEALTH LLC 14.30% of their portfolio | 733.1k $410.1m | Added +5.4k |
| Circle Wealth Management, LLC 9.44% of their portfolio | 728.5k $407.5m | Reduced -22.4k |
| NorthCoast Asset Management LLC 2.02% of their portfolio | 720.2k $402.9m | Added +42.7k |
| Calamos Advisors LLC 1.87% of their portfolio | 707.6k $395.8m | Added +696.1k |