Vault-13

SPDR SER TR SPBO

PORTFOLIO CRPORT · ETP · CUSIP 78464A144

170 institutional holders -1 vs Q3 2025
42,753,20242.8m shares reported held*
$1.3bnreported value*
20 new 75 added 46 reduced 22 sold out net sold ≈ $107.5m (-3.6m shares)

* 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 ($1.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.34. Options: 2 managers hold calls ($35.0m notional), 0 hold puts (—).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 61Q4 22: 82Q1 23: 93Q2 23: 98Q3 23: 107Q4 23: 124Q1 24: 129Q2 24: 134Q3 24: 147Q4 24: 153Q1 25: 163Q2 25: 156Q3 25: 171Q4 25: 170170Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202261
Q4 202282
Q1 202393
Q2 202398
Q3 2023107
Q4 2023124
Q1 2024129
Q2 2024134
Q3 2024147
Q4 2024153
Q1 2025163
Q2 2025156
Q3 2025171
Q4 2025170

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q1 24: 84 bought or addedQ1 24: 57 cut or sold outQ2 24: 70 bought or addedQ2 24: 67 cut or sold outQ2 24Q3 24: 90 bought or addedQ3 24: 49 cut or sold outQ4 24: 86 bought or addedQ4 24: 58 cut or sold outQ4 24Q1 25: 82 bought or addedQ1 25: 68 cut or sold outQ2 25: 67 bought or addedQ2 25: 82 cut or sold outQ2 25Q3 25: 98 bought or addedQ3 25: 49 cut or sold outQ4 25: 95 bought or addedQ4 25: 68 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20248457
Q2 20247067
Q3 20249049
Q4 20248658
Q1 20258268
Q2 20256782
Q3 20259849
Q4 20259568

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30m$40mQ1 25 calls: $499.3kQ1 25 puts: $354.2kQ1 25P/C 0.71Q2 25 calls: $265.9kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $3.7mQ3 25 puts: $26.9mQ3 25P/C 7.31Q4 25 calls: $35.0mQ4 25 puts: $0Q4 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2025$499.3k$354.2k0.71
Q2 2025$265.9k$00.00
Q3 2025$3.7m$26.9m7.31
Q4 2025$35.0m$00.00

Biggest buyers

AMERIPRISE FINANCIAL INC Added +687,686+687.7k
Tradewinds Capital Management, LLC Added +627,359+627.4k
Asset Management One Co., Ltd. New +352,430+352.4k
AE Wealth Management LLC Added +237,241+237.2k
Mariner, LLC Added +208,518+208.5k
OSAIC HOLDINGS, INC. Added +178,346+178.3k
HighPoint Advisor Group LLC New +155,532+155.5k
Valmark Advisers, Inc. Added +153,695+153.7k
Summit Financial Wealth Advisors, LLC Added +110,788+110.8k
LPL Financial LLC Added +100,339+100.3k

Biggest sellers

Bank of New York Mellon Corp Sold out -2,000,173-2.0m
NEPC LLC Reduced -1,380,665-1.4m
Gerber Kawasaki Wealth & Investment Management Reduced -1,060,118-1.1m
EXCHANGE TRADED CONCEPTS, LLC Reduced -988,123-988.1k
JANE STREET GROUP, LLC Sold out -510,066-510.1k
FLAGSHIP HARBOR ADVISORS, LLC Sold out -357,425-357.4k
Phoenix Financial Ltd. Sold out -182,786-182.8k
IHT Wealth Management, LLC Reduced -171,914-171.9k
Tidemark, LLC Sold out -132,230-132.2k
ST GERMAIN D J CO INC Reduced -118,021-118.0k

Biggest calls

Oribel Capital Management, LP New $29.4m344.8k shares
BOOTHBAY FUND MANAGEMENT, LLC Added $5.6m65.1k shares

Biggest puts

None

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.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 8,027,0018.0m $235.5m $235.5m 0.05% Added +687.7k +687,686
2 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 3,029,1203.0m $88.9m $88.9m 0.02% Added +100.3k +100,339
3 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,769,8402.8m $81.3m $81.3m 0.01% Added +42.7k +42,731
4 ST GERMAIN D J CO INC 2.43% of their portfolio SPRINGFIELD, MA 2,133,9222.1m $62.6m $62.6m 2.43% Reduced -118.0k -118,021
5 CX Institutional 1.76% of their portfolio AUBURN, IN 2,011,3002.0m $59.0m $59.0m 1.76% Added +5.9k +5,851
6 AE Wealth Management LLC 0.33% of their portfolio TOPEKA, KS 1,974,9002.0m $57.9m $57.9m 0.33% Added +237.2k +237,241
7 OSAIC HOLDINGS, INC. 0.07% of their portfolio SCOTTSDALE, AZ 1,541,4761.5m $45.2m $45.2m 0.07% Added +178.3k +178,346
8 Procyon Advisors, LLC 2.17% of their portfolio SHELTON, CT 1,493,6721.5m $43.8m $43.8m 2.17% Added +89.1k +89,095
9 ASSETMARK, INC 0.09% of their portfolio CONCORD, CA 1,475,9081.5m $43.3m $43.3m 0.09% Added +72.4k +72,388
10 EXCHANGE TRADED CONCEPTS, LLC 0.34% of their portfolio Oklahoma City, OK 1,373,6201.4m $40.3m $40.3m 0.34% Reduced -988.1k -988,123
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,316,5981.3m $38.6m $38.6m 0.00% Added +47.6k +47,601
12 North Dakota State Investment Board 1.19% of their portfolio BISMARCK, ND 1,089,0681.1m $32.0m $32.0m 1.19% First filing
13 RWA WEALTH PARTNERS, LLC 0.34% of their portfolio BOSTON, MA 1,049,3141.0m $30.8m $30.8m 0.34% Reduced -110.9k -110,876
14 Summit Financial Wealth Advisors, LLC 4.32% of their portfolio Lafayette, LA 1,027,7161.0m $30.2m $30.2m 4.32% Added +110.8k +110,788
15 Geneos Wealth Management Inc. 0.71% of their portfolio ENGLEWOOD, CO 991,804991.8k $29.1m $29.1m 0.71% Added +27.6k +27,647
16 ARKANSAS FINANCIAL GROUP, INC. 3.47% of their portfolio LITTLE ROCK, AR 820,153820.2k $24.1m $24.1m 3.47% Added +91.5k +91,532
17 Tradewinds Capital Management, LLC 4.67% of their portfolio BELLINGHAM, WA 755,118755.1k $22.2m $22.2m 4.67% Added +627.4k +627,359
18 Flaharty Asset Management, LLC 2.70% of their portfolio CLEARWATER, FL 736,686736.7k $21.6m $21.6m 2.70% Added +28.2k +28,192
19 Sterling Manor Financial, LLC 11.59% of their portfolio Saratoga Springs, NY 632,857632.9k $18.6m $18.6m 11.59% Added +15.5k +15,538
20 Financial Engines Advisors L.L.C. 0.03% of their portfolio SANTA CLARA, CA 566,708566.7k $16.6m $16.6m 0.03% Added +47.5k +47,478
21 Mariner, LLC 0.02% of their portfolio Overland Park, KS 543,856543.9k $16.0m $16.0m 0.02% Added +208.5k +208,518
22 Financial Gravity Asset Management, Inc. 2.40% of their portfolio Lakeway, TX 425,259425.3k $12.5m $12.5m 2.40% Added +27.3k +27,330
23 IHT Wealth Management, LLC 0.28% of their portfolio Chicago, IL 389,390389.4k $11.4m $11.4m 0.28% Reduced -171.9k -171,914
24 Valmark Advisers, Inc. 0.13% of their portfolio AKRON, OH 358,456358.5k $10.5m $10.5m 0.13% Added +153.7k +153,695
25 Asset Management One Co., Ltd. 0.03% of their portfolio TOKYO, M0 352,430352.4k $10.4m $10.4m 0.03% New
26 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 317,662317.7k $9.3m $9.3m 0.00% Added +27.1k +27,127
27 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 294,036294.0k $8.7m $8.7m 0.02% Added +3.6k +3,616
28 Enstar Group LTD 3.14% of their portfolio Hamilton, D0 276,400276.4k $8.1m $8.1m 3.14% Unchanged
29 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 262,162262.2k $7.7m $7.7m 0.00% Reduced -5.2k -5,214
30 NEPC LLC 0.16% of their portfolio Boston, MA 258,781258.8k $7.6m $7.6m 0.16% Reduced -1.4m -1,380,665
31 CWM, LLC 0.02% of their portfolio OMAHA, NE 231,532231.5k $6.8m $6.8m 0.02% Added +3.7k +3,691
32 Gerber Kawasaki Wealth & Investment Management 0.21% of their portfolio SANTA MONICA, CA 203,753203.8k $6.0m $6.0m 0.21% Reduced -1.1m -1,060,118
33 Breakwater Capital Group 0.82% of their portfolio PARAMUS, NJ 200,119200.1k $5.9m $5.9m 0.82% Added +32.3k +32,254
34 Jacobi Capital Management LLC 0.30% of their portfolio PITTSTON, PA 176,303176.3k $5.2m $5.2m 0.30% Added +7.6k +7,582
35 Foundations Investment Advisors, LLC 0.07% of their portfolio PHOENIX, AZ 172,793172.8k $5.1m $5.1m 0.07% Added +30.9k +30,933
36 Melone Private Wealth, LLC 2.09% of their portfolio AUBURN HILLS, MI 167,659167.7k $4.9m $4.9m 2.09% Reduced -10.1k -10,091
37 NorthRock Partners, LLC 0.08% of their portfolio MINNEAPOLIS, MN 163,984164.0k $4.8m $4.8m 0.08% Added +27.2k +27,219
38 HighPoint Advisor Group LLC 0.10% of their portfolio DOWNERS GROVE, IL 155,532155.5k $4.6m $4.6m 0.10% New
39 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 145,689145.7k $4.3m $4.3m 0.01% Reduced -5.0k -5,045
40 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 142,234142.2k $4.2m $4.2m 0.02% Reduced -701 -701
41 5th Street Advisors, LLC 1.85% of their portfolio Southport, CT 134,861134.9k $4.0m $4.0m 1.85% Reduced -10.4k -10,366
42 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 126,390126.4k $3.7m $3.7m 0.00% Reduced -57.6k -57,578
43 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 124,407124.4k $3.7m $3.7m 0.00% Reduced -41 -41
44 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.02% of their portfolio Stamford, CT 113,361113.4k $3.3m $3.3m 0.02% Reduced -1.5k -1,515
45 TRANSATLANTIQUE PRIVATE WEALTH LLC 0.81% of their portfolio NEW YORK, NY 87,95988.0k $2.6m $2.6m 0.81% Added +13.4k +13,393
46 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 81,58181.6k $2.4m $2.4m 0.00% New
47 RITHOLTZ WEALTH MANAGEMENT 0.04% of their portfolio NEW YORK, NY 80,78480.8k $2.4m $2.4m 0.04% Added +471 +471
48 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 75,85575.9k $2.2m $2.2m 0.00% Added +5.2k +5,168
49 TOUNJIAN ADVISORY PARTNERS, LLC 0.75% of their portfolio FORT MYERS, FL 75,55475.6k $2.2m $2.2m 0.75% Added +1.0k +1,042
50 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 70,17970.2k $2.1m $2.1m 0.00% New
51 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 69,33369.3k $2.0m $2.0m 0.00% Added +45.7k +45,747
52 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 64,93464.9k $1.9m $1.9m 0.00% Added +33.1k +33,112
53 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 59,84159.8k $1.8m $1.8m 0.00% New
54 David Kennon Inc 0.59% of their portfolio SARASOTA, FL 56,30556.3k $1.7m $1.7m 0.59% Reduced -798 -798
55 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 53,94753.9k $1.6m $1.6m 0.00% Reduced -6.4k -6,434
56 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 53,40653.4k $1.6m $1.6m 0.00% Reduced -15.2k -15,240
57 Transamerica Financial Advisors, LLC 0.13% of their portfolio CEDAR RAPIDS, IA 52,97553.0k $1.6m $1.6m 0.13% Reduced -2.0k -2,034
58 World Investment Advisors 0.02% of their portfolio LINCROFT, NJ 48,38048.4k $1.4m $1.4m 0.02% Added +5.7k +5,734
59 LEVEL FOUR ADVISORY SERVICES, LLC 0.05% of their portfolio DALLAS, TX 47,45347.5k $1.4m $1.4m 0.05% Added +18.7k +18,666
60 ZACKS INVESTMENT MANAGEMENT 0.01% of their portfolio Chicago, IL 47,25447.3k $1.4m $1.4m 0.01% Reduced -9.4k -9,440
61 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 46,89346.9k $1.4m $1.4m 0.00% Unchanged
62 Elevated Capital Advisors, LLC 0.30% of their portfolio SANDY, UT 43,80443.8k $1.3m $1.3m 0.30% Reduced -2.2k -2,156
63 Quadrant Private Wealth Management, LLC 0.20% of their portfolio Center Valley, PA 41,55241.6k $1.2m $1.2m 0.20% Added +1.7k +1,690
64 Mach-1 Financial Group, LLC 0.24% of their portfolio Rogers, AR 39,75139.8k $1.2m $1.2m 0.24% New
65 Center For Asset Management LLC 0.59% of their portfolio PALM BEACH GARDENS, FL 38,37038.4k $1.1m $1.1m 0.59% Reduced -987 -987
66 Savant Capital, LLC 0.01% of their portfolio ROCKFORD, IL 37,65437.7k $1.1m $1.1m 0.01% Reduced -8.9k -8,913
67 Envestnet Portfolio Solutions, Inc. 0.00% of their portfolio BERWYN, PA 36,70436.7k $1.1m $1.1m 0.00% New
68 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 34,18134.2k $1.0m $1.0m 0.00% Added +33.3k +33,339
69 Strategic Investment Advisors / MI 0.08% of their portfolio FARMINGTON HILLS, MI 33,05133.1k $969.7k $969.7k 0.08% Added +32.8k +32,798
70 Guardian Asset Advisors, LLC 0.49% of their portfolio MECHANICSBURG, PA 32,38232.4k $950.1k $950.1k 0.49% Reduced -16 -16
71 Advisor Resource Council 0.34% of their portfolio DALLAS, TX 32,30832.3k $946.6k $946.6k 0.34% New
72 Florida Trust Wealth Management Co 0.02% of their portfolio SANIBEL, FL 30,00030.0k $880.2k $880.2k 0.02% Unchanged
73 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 28,05228.1k $823.0k $823.0k 0.00% Added +218 +218
74 ShoreHaven Wealth Partners, LLC 0.30% of their portfolio Red Bank, NJ 28,02328.0k $822.2k $822.2k 0.30% Added +834 +834
75 CreativeOne Wealth, LLC 0.02% of their portfolio OVERLAND PARK, KS 27,62827.6k $810.6k $810.6k 0.02% Added +510 +510
76 Compound Planning, Inc. 0.02% of their portfolio NEW YORK, NY 25,72225.7k $754.7k $754.7k 0.02% Added +4.0k +3,978
77 Alesco Advisors, LLC, An ESL Co 0.02% of their portfolio Pittsford, NY 25,09525.1k $736.3k $736.3k 0.02% Reduced -11.6k -11,550
78 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 24,51824.5k $719.4k $719.4k 0.00% Added +11.5k +11,510
79 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 24,29124.3k $712.7k $712.7k 0.00% Reduced -17.8k -17,833
80 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 22,46022.5k $659.0k $659.0k 0.00% Added +15.7k +15,651
81 Ashton Thomas Private Wealth, LLC 0.02% of their portfolio SCOTTSDALE, AZ 21,81221.8k $640.0k $640.0k 0.02% Reduced -414 -414
82 INVENIO WEALTH PARTNERS LLC 0.23% of their portfolio CORAL GABLES, FL 21,37721.4k $627.2k $627.2k 0.23% Unchanged
83 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 21,01921.0k $616.7k $616.7k 0.00% Reduced -821 -821
84 APS Management Group, Inc. 0.52% of their portfolio TORRANCE, CA 20,74620.7k $608.7k $608.7k 0.52% Reduced -106.3k -106,255
85 Parallel Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 20,23620.2k $593.7k $593.7k 0.01% Added +10.7k +10,730
86 National Wealth Management Group, LLC 0.20% of their portfolio CINCINNATI, OH 20,13420.1k $590.7k $590.7k 0.20% Reduced -8.8k -8,750
87 Laraway Financial Advisors Inc 0.38% of their portfolio SAINT CLOUD, MN 20,00220.0k $586.8k $586.8k 0.38% Added +94 +94
88 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 19,32819.3k $567.0k $567.0k 0.00% Added +11.3k +11,346
89 Detalus Advisors, LLC 0.13% of their portfolio ST. LOUIS, MO 17,56517.6k $515.4k $515.4k 0.13% Added +3.1k +3,093
90 Prosperity Wealth Management, Inc. 0.16% of their portfolio San Ramon, CA 16,24416.2k $476.6k $476.6k 0.16% Reduced -543 -543
91 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 15,44515.4k $453.2k $453.2k 0.00% Reduced -568 -568
92 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 14,32114.3k $420.2k $420.2k 0.00% Reduced -2.6k -2,624
93 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 14,10714.1k $413.9k $413.9k 0.00% Added +2.0k +2,031
94 Rice Partnership, LLC 0.05% of their portfolio HONOLULU, HI 13,35613.4k $391.9k $391.9k 0.05% Unchanged
95 ARRIEN INVESTMENTS, INC. 0.22% of their portfolio BOISE, ID 13,16813.2k $386.3k $386.3k 0.22% New
96 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 12,99513.0k $381.3k $381.3k 0.00% Unchanged
97 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 12,79312.8k $375.3k $375.3k 0.00% Added +406 +406
98 First Heartland Consultants, Inc. 0.03% of their portfolio LAKE ST. LOUIS, MO 12,68312.7k $372.1k $372.1k 0.03% Added +1.7k +1,672
99 Breakwater Investment Management 0.13% of their portfolio SEATTLE, WA 12,33212.3k $361.8k $361.8k 0.13% Added +179 +179
100 Ascent Group, LLC 0.01% of their portfolio VIRGINIA BEACH, VA 12,20212.2k $358.0k $358.0k 0.01% Reduced -475 -475