Vault-13

SPDR SER TR CWB

BBG CONV SEC ETF · ETP · CUSIP 78464A359

533 institutional holders +21 vs Q4 2025
27,232,61427.2m shares reported held*
$2.5bnreported value*
57 new 153 added 199 reduced 40 sold out net sold ≈ $650.7m (-7.2m 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 ($18.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $92.34. Options: 1 managers hold calls ($338.6k notional), 3 hold puts ($2.9m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 458Q4 22: 474Q1 23: 442Q2 23: 478Q3 23: 466Q4 23: 462Q1 24: 468Q2 24: 443Q3 24: 461Q4 24: 523Q1 25: 470Q2 25: 473Q3 25: 491Q4 25: 512Q1 26: 533533Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022458
Q4 2022474
Q1 2023442
Q2 2023478
Q3 2023466
Q4 2023462
Q1 2024468
Q2 2024443
Q3 2024461
Q4 2024523
Q1 2025470
Q2 2025473
Q3 2025491
Q4 2025512
Q1 2026533

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 24: 141 bought or addedQ2 24: 236 cut or sold outQ3 24: 174 bought or addedQ3 24: 210 cut or sold outQ3 24Q4 24: 217 bought or addedQ4 24: 180 cut or sold outQ1 25: 172 bought or addedQ1 25: 261 cut or sold outQ1 25Q2 25: 167 bought or addedQ2 25: 223 cut or sold outQ3 25: 210 bought or addedQ3 25: 196 cut or sold outQ3 25Q4 25: 193 bought or addedQ4 25: 198 cut or sold outQ1 26: 210 bought or addedQ1 26: 239 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024141236
Q3 2024174210
Q4 2024217180
Q1 2025172261
Q2 2025167223
Q3 2025210196
Q4 2025193198
Q1 2026210239

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ2 25 calls: $644.7kQ2 25 puts: $6.3mQ2 25P/C 9.82Q3 25 calls: $814.5kQ3 25 puts: $6.1mQ3 25P/C 7.54Q4 25 calls: $365.7kQ4 25 puts: $1.3mQ4 25P/C 3.66Q1 26 calls: $338.6kQ1 26 puts: $2.9mQ1 26P/C 8.62
Numbers
QuarterCallsPutsP/C
Q2 2025$644.7k$6.3m9.82
Q3 2025$814.5k$6.1m7.54
Q4 2025$365.7k$1.3m3.66
Q1 2026$338.6k$2.9m8.62

Biggest buyers

Kingsview Wealth Management, LLC New +130,481+130.5k
Financial & Tax Architects, LLC New +105,088+105.1k
BLUEFIN CAPITAL MANAGEMENT, LLC New +104,719+104.7k
Estate Counselors, LLC Added +96,844+96.8k
WIN ADVISORS, INC New +96,539+96.5k
Advyzon Investment Management, LLC Added +90,601+90.6k
BESSEMER GROUP INC Added +83,758+83.8k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +81,720+81.7k
Discipline Wealth Solutions, LLC Added +76,065+76.1k
Advisors Preferred, LLC Added +52,101+52.1k

Biggest sellers

Howard Capital Management, LLC Reduced -2,309,628-2.3m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,779,086-1.8m
Cetera Investment Advisers Reduced -1,313,437-1.3m
Orion Porfolio Solutions, LLC Reduced -426,732-426.7k
LPL Financial LLC Reduced -328,626-328.6k
POTOMAC FUND MANAGEMENT INC /ADV Sold out -255,798-255.8k
Wealth Watch Advisors, INC Sold out -238,038-238.0k
RAYMOND JAMES FINANCIAL INC Reduced -212,953-213.0k
Lifestyle Asset Management, Inc. Sold out -141,135-141.1k
Aegis Wealth Management, Inc. Reduced -128,911-128.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $338.6k3.7k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.5m16.1k shares
CITADEL ADVISORS LLC Added $1.2m12.7k shares
JANE STREET GROUP, LLC New $283.7k3.1k 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.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 2,654,0142.7m $242.9m $242.9m 0.02% Added +26.7k +26,717
2 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,611,3451.6m $147.5m $147.5m 0.01% Added +19.7k +19,707
3 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 1,493,5801.5m $136.7m $136.7m 0.03% Added +10.6k +10,556
4 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,250,1801.3m $114.4m $114.4m 0.03% Reduced -328.6k -328,626
5 BESSEMER GROUP INC 0.17% of their portfolio WOODBRIDGE, NJ 1,215,8791.2m $111.3m $111.3m 0.17% Added +83.8k +83,758
6 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 1,123,8411.1m $102.9m $102.9m 0.06% Added +81.7k +81,720
7 DELTA CAPITAL MANAGEMENT LLC 0.55% of their portfolio RED BANK, NJ 1,086,0001.1m $994.0k $994.0k 0.55% Unchanged
8 ASSETMARK, INC 0.16% of their portfolio CONCORD, CA 842,982843.0k $77.1m $77.1m 0.16% Reduced -68.8k -68,772
9 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 841,207841.2k $77.0m $77.0m 0.02% Added +39.3k +39,312
10 PNC Financial Services Group, Inc. 0.04% of their portfolio Pittsburgh, PA 753,977754.0k $69.0m $69.0m 0.04% Reduced -28.2k -28,196
11 DEUTSCHE BANK AG\ 0.02% of their portfolio FRANKFURT AM MAIN, 2M 684,479684.5k $62.6m $62.6m 0.02% Reduced -114.2k -114,225
12 Goodman Advisory Group, LLC 12.42% of their portfolio NEEDHAM, MA 522,882522.9k $47.9m $47.9m 12.42% Reduced -13.4k -13,432
13 UBS Group AG 0.01% of their portfolio ZURICH, V8 486,749486.7k $44.5m $44.5m 0.01% Added +5.1k +5,091
14 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 451,825451.8k $41.4m $41.4m 0.04% Reduced -96.6k -96,619
15 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 449,359449.4k $41.1m $41.1m 0.01% Reduced -1.8m -1,779,086
16 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 446,402446.4k $40.9m $40.9m 0.01% Reduced -76.5k -76,503
17 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 437,880437.9k $40.1m $40.1m 0.02% Reduced -14.1k -14,149
18 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 384,062384.1k $35.1m $35.1m 0.01% Reduced -10.7k -10,747
19 New York Life Investment Management LLC 0.29% of their portfolio New York, NY 374,494374.5k $34.3m $34.3m 0.29% Reduced -98.4k -98,399
20 One Wealth Map LLC 18.44% of their portfolio LAS VEGAS, NV 371,488371.5k $37.8m $37.8m 18.44% Reduced -24.1k -24,096
21 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 310,778310.8k $28.4m $28.4m 0.01% Reduced -213.0k -212,953
22 Cambridge Investment Research Advisors, Inc. 0.06% of their portfolio FAIRFIELD, IA 264,377264.4k $24.2m $24.2m 0.06% Reduced -36.0k -36,012
23 River Wealth Advisors LLC 2.49% of their portfolio CAMP HILL, PA 237,136237.1k $21.7m $21.7m 2.49% Added +1.9k +1,858
24 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 233,908233.9k $20.9m $20.9m 0.01% Reduced -15.2k -15,156
25 Estate Counselors, LLC 1.88% of their portfolio Thiensville, WI 230,144230.1k $21.1m $21.1m 1.88% Added +96.8k +96,844
26 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 214,145214.1k $19.6m $19.6m 0.03% Reduced -38.0k -38,007
27 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 209,450209.4k $19.2m $19.2m 0.03% Reduced -4.1k -4,054
28 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 195,944195.9k $17.9m $17.9m 0.02% Added +412 +412
29 XML Financial, LLC 1.38% of their portfolio BETHESDA, MD 186,523186.5k $17.1m $17.1m 1.38% Reduced -1.6k -1,571
30 Waldron Private Wealth LLC 0.64% of their portfolio BRIDGEVILLE, PA 180,557180.6k $16.5m $16.5m 0.64% Reduced -6.3k -6,257
31 GUGGENHEIM CAPITAL LLC 0.12% of their portfolio CHICAGO, IL 169,507169.5k $15.5m $15.5m 0.12% Added +2.8k +2,772
32 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.03% of their portfolio PLYMOUTH, MN 156,375156.4k $14.6m $14.6m 0.03% Reduced -82.5k -82,544
33 Janney Montgomery Scott LLC 0.03% of their portfolio PHILADELPHIA, PA 154,164154.2k $14.1m $14.1m 0.03% Reduced -3.0k -2,982
34 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 148,772148.8k $13.6m $13.6m 0.02% Reduced -19.1k -19,055
35 AMG National Trust Bank 0.27% of their portfolio GREENWOOD VILLAGE, CO 133,926133.9k $12.3m $12.3m 0.27% Added +7.4k +7,359
36 OPPENHEIMER & CO INC 0.15% of their portfolio NEW YORK, NY 132,117132.1k $12.1m $12.1m 0.15% Reduced -2.2k -2,247
37 Modera Wealth Management, LLC 0.14% of their portfolio WESTWOOD, NJ 131,389131.4k $12.0m $12.0m 0.14% Reduced -8.9k -8,942
38 Kingsview Wealth Management, LLC 0.16% of their portfolio GRANTS PASS, OR 130,481130.5k $11.9m $11.9m 0.16% New
39 HUNTINGTON NATIONAL BANK 0.07% of their portfolio COLUMBUS, OH 129,761129.8k $11.9m $11.9m 0.07% Added +12.0k +12,001
40 McAdam, LLC 0.53% of their portfolio Philadelphia, PA 129,377129.4k $11.8m $11.8m 0.53% Added +6.3k +6,318
41 Advisors Preferred, LLC 1.69% of their portfolio ROCKVILLE, MD 125,232125.2k $11.5m $11.5m 1.69% Added +52.1k +52,101
42 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 121,412121.4k $11.1m $11.1m 0.01% Reduced -1.3m -1,313,437
43 William Mack & Associates, Inc. 6.22% of their portfolio TROY, MI 118,869118.9k $10.9m $10.9m 6.22% Reduced -62.5k -62,467
44 Advyzon Investment Management, LLC 0.92% of their portfolio LISLE, IL 112,369112.4k $10.3m $10.3m 0.92% Added +90.6k +90,601
45 Strategic Investment Advisors / MI 0.67% of their portfolio FARMINGTON HILLS, MI 105,804105.8k $9.7m $9.7m 0.67% Added +8.3k +8,283
46 Financial & Tax Architects, LLC 2.14% of their portfolio ST LOUIS, MO 105,088105.1k $9.6m $9.6m 2.14% New
47 BLUEFIN CAPITAL MANAGEMENT, LLC 9.29% of their portfolio NEW YORK, NY 104,719104.7k $9.6m $9.6m 9.29% New
48 Paulson Wealth Management Inc. 2.15% of their portfolio West Palm Beach, FL 100,332100.3k $9.2m $9.2m 2.15% Reduced -65.6k -65,591
49 NTV Asset Management LLC 0.98% of their portfolio Charleston, WV 97,40397.4k $8.9m $8.9m 0.98% Reduced -3.5k -3,470
50 WIN ADVISORS, INC 4.04% of their portfolio PALM BEACH GARDENS, FL 96,53996.5k $8.8m $8.8m 4.04% New
51 Anderson Financial Strategies, LLC 5.51% of their portfolio DAYTON, OH 96,47696.5k $10.0m $10.0m 5.51% Reduced -3.5k -3,466
52 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 95,62995.6k $8.8m $8.8m 0.02% Reduced -24.2k -24,172
53 Steward Partners Investment Advisory, LLC 0.04% of their portfolio STAMFORD, CT 91,69391.7k $8.4m $8.4m 0.04% Reduced -672 -672
54 Paladin Partners, LLC 5.96% of their portfolio HARTLAND, WI 90,36790.4k $8.3m $8.3m 5.96% Added +10.2k +10,161
55 Windsor Capital Management, LLC 2.23% of their portfolio Phoenix, AZ 86,43886.4k $7.9m $7.9m 2.23% Reduced -2.7k -2,696
56 Spectrum Wealth Advisory Group, LLC 2.91% of their portfolio GRANITE BAY, CA 85,62585.6k $7.8m $7.8m 2.91% Added +2.1k +2,061
57 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 82,83082.8k $7.6m $7.6m 0.01% Added +15.2k +15,162
58 Discipline Wealth Solutions, LLC 0.77% of their portfolio GREENVILLE, SC 79,79479.8k $7.3m $7.3m 0.77% Added +76.1k +76,065
59 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 75,05675.1k $6.9m $6.9m 0.02% Unchanged
60 NorthCoast Asset Management LLC 0.16% of their portfolio STAMFORD, CT 74,26574.3k $6.8m $6.8m 0.16% Added +4.0k +3,989
61 Arkos Global Advisors 0.84% of their portfolio HOUSTON, TX 73,47173.5k $6.7m $6.7m 0.84% Added +2.0k +2,042
62 Baron Financial Group, LLC 3.57% of their portfolio Fair Lawn, NJ 72,38672.4k $6.6m $6.6m 3.57% Reduced -115 -115
63 Finward Bancorp 5.13% of their portfolio Munster, IN 70,13770.1k $6.4m $6.4m 5.13% Added +967 +967
64 Riggs Asset Managment Co. Inc. 1.28% of their portfolio DALLAS, PA 68,06868.1k $6.2m $6.2m 1.28% Added +7.0k +6,988
65 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 67,15067.2k $6.1m $6.1m 0.00% Added +4.5k +4,490
66 HMS Capital Management, LLC 2.36% of their portfolio NASHVILLE, TN 66,76666.8k $6.1m $6.1m 2.36% Reduced -3.4k -3,414
67 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 66,30066.3k $6.1m $6.1m 0.01% Added +30.5k +30,452
68 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 66,22866.2k $6.1m $6.1m 0.00% Added +1.3k +1,333
69 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 65,02565.0k $6.0m $6.0m 0.03% Reduced -29.6k -29,630
70 David J Yvars Group 3.20% of their portfolio UNIVERSITY PARK, FL 62,57162.6k $5.7m $5.7m 3.20% Added +1.3k +1,314
71 Mirae Asset Global Investments Co., Ltd. 0.02% of their portfolio SEOUL, M5 61,31761.3k $5.6m $5.6m 0.02% Added +4.5k +4,535
72 Brindle & Bay Financial Advisors, LLC 3.18% of their portfolio FRISCO, TX 56,59356.6k $5.2m $5.2m 3.18% Added +6.3k +6,300
73 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 55,68855.7k $5.1m $5.1m 0.01% Added +574 +574
74 Sterling Investment Advisors, Ltd. 0.90% of their portfolio BERWYN, PA 54,36154.4k $5.0m $5.0m 0.90% Added +104 +104
75 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 54,09054.1k $5.0m $5.0m 0.01% Reduced -78 -78
76 Concurrent Investment Advisors, LLC 0.05% of their portfolio Tampa, FL 52,36252.4k $4.8m $4.8m 0.05% Reduced -1.2k -1,166
77 Prospera Financial Services Inc 0.08% of their portfolio Dallas, TX 51,34951.3k $4.7m $4.7m 0.08% Reduced -4.9k -4,888
78 Allworth Financial LP 0.02% of their portfolio FOLSOM, CA 51,26151.3k $4.7m $4.7m 0.02% Reduced -5.9k -5,878
79 NewSquare Capital LLC 0.41% of their portfolio NEWTOWN SQUARE, PA 51,20751.2k $4.7m $4.7m 0.41% New
80 Hershey Financial Advisers, LLC 4.02% of their portfolio LANCASTER, PA 50,88450.9k $4.7m $4.7m 4.02% Added +10.3k +10,330
81 Sage Capital Management, LLC 2.14% of their portfolio Stockton, NJ 49,66049.7k $4.5m $4.5m 2.14% Added +235 +235
82 AXS Investments LLC 1.72% of their portfolio PORT CHESTER, NY 46,58746.6k $4.3m $4.3m 1.72% Reduced -3.9k -3,871
83 Guardian Capital, LLC 3.91% of their portfolio WEXFORD, PA 44,69544.7k $4.1m $4.1m 3.91% Added +30.9k +30,914
84 Indivisible Partners 0.36% of their portfolio CLEARWATER, FL 44,08544.1k $4.0m $4.0m 0.36% Added +11.5k +11,497
85 IFP Advisors, Inc 0.08% of their portfolio TAMPA, FL 43,80443.8k $4.0m $4.0m 0.08% Added +1.8k +1,761
86 WESBANCO BANK INC 0.11% of their portfolio WHEELING, WV 43,57943.6k $4.0m $4.0m 0.11% Reduced -4.1k -4,120
87 Chicago Partners Investment Group LLC 0.10% of their portfolio CHICAGO, IL 43,52743.5k $4.4m $4.4m 0.10% Reduced -2.3k -2,328
88 CIM, LLC 0.58% of their portfolio ALBANY, NY 43,47243.5k $4.0m $4.0m 0.58% Reduced -496 -496
89 EXCHANGE TRADED CONCEPTS, LLC 0.03% of their portfolio Oklahoma City, OK 42,47542.5k $3.9m $3.9m 0.03% Added +18.2k +18,250
90 Ocean Park Asset Management, LLC 0.22% of their portfolio SANTA MONICA, CA 42,47542.5k $3.9m $3.9m 0.22% Added +18.2k +18,250
91 Geneos Wealth Management Inc. 0.09% of their portfolio ENGLEWOOD, CO 40,72940.7k $3.7m $3.7m 0.09% Reduced -13.1k -13,120
92 EFG International AG 0.08% of their portfolio Zurich, V8 40,47540.5k $3.7m $3.7m 0.08% Reduced -247 -247
93 Optivise Advisory Services LLC 2.21% of their portfolio FRANKLIN, TN 39,92339.9k $3.7m $3.7m 2.21% Reduced -577 -577
94 Midwest Professional Planners, LTD. 0.84% of their portfolio WAUSAU, WI 38,93938.9k $3.6m $3.6m 0.84% New
95 B. Riley Wealth Advisors, Inc. 0.22% of their portfolio MEMPHIS, TN 37,85137.9k $3.4m $3.4m 0.22% Reduced -7.6k -7,578
96 Nilsine Partners, LLC 0.30% of their portfolio GREENWOOD VILLAGE, CO 37,82237.8k $3.8m $3.8m 0.30% New
97 Transamerica Financial Advisors, LLC 0.29% of their portfolio CEDAR RAPIDS, IA 37,79737.8k $3.5m $3.5m 0.29% Added +6.6k +6,565
98 Sentinel Advisory Group, LLC 1.68% of their portfolio MIDDLETON, WI 37,71937.7k $3.5m $3.5m 1.68% First filing
99 Mariner, LLC 0.00% of their portfolio Overland Park, KS 36,71936.7k $3.4m $3.4m 0.00% Added +21.8k +21,766
100 Petix & Botte Co 0.72% of their portfolio LA MESA, CA 35,54735.5k $3.3m $3.3m 0.72% New