Vault-13

SPDR SERIES TRUST XAR

AEROSPACE DEF · ETP · CUSIP 78464A631

574 institutional holders +74 vs Q4 2025
10,144,52510.1m shares reported held*
$2.6bnreported value*
95 new 225 added 134 reduced 23 sold out net bought ≈ $316.0m (+755.1k 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 ($2.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $253.92. Options: 5 managers hold calls ($20.4m notional), 4 hold puts ($7.2m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 222Q4 22: 253Q1 23: 254Q2 23: 261Q3 23: 263Q4 23: 333Q1 24: 336Q2 24: 349Q3 24: 348Q4 24: 373Q1 25: 374Q2 25: 414Q3 25: 454Q4 25: 500Q1 26: 574574Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022222
Q4 2022253
Q1 2023254
Q2 2023261
Q3 2023263
Q4 2023333
Q1 2024336
Q2 2024349
Q3 2024348
Q4 2024373
Q1 2025374
Q2 2025414
Q3 2025454
Q4 2025500
Q1 2026574

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 24: 170 bought or addedQ2 24: 116 cut or sold outQ3 24: 132 bought or addedQ3 24: 141 cut or sold outQ3 24Q4 24: 173 bought or addedQ4 24: 110 cut or sold outQ1 25: 171 bought or addedQ1 25: 127 cut or sold outQ1 25Q2 25: 186 bought or addedQ2 25: 151 cut or sold outQ3 25: 222 bought or addedQ3 25: 138 cut or sold outQ3 25Q4 25: 247 bought or addedQ4 25: 136 cut or sold outQ1 26: 320 bought or addedQ1 26: 157 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024170116
Q3 2024132141
Q4 2024173110
Q1 2025171127
Q2 2025186151
Q3 2025222138
Q4 2025247136
Q1 2026320157

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ2 25 calls: $9.5mQ2 25 puts: $1.5mQ2 25P/C 0.16Q3 25 calls: $14.4mQ3 25 puts: $1.0mQ3 25P/C 0.07Q4 25 calls: $14.8mQ4 25 puts: $1.4mQ4 25P/C 0.09Q1 26 calls: $20.4mQ1 26 puts: $7.2mQ1 26P/C 0.35
Numbers
QuarterCallsPutsP/C
Q2 2025$9.5m$1.5m0.16
Q3 2025$14.4m$1.0m0.07
Q4 2025$14.8m$1.4m0.09
Q1 2026$20.4m$7.2m0.35

Biggest buyers

MORGAN STANLEY Added +185,278+185.3k
Mirae Asset Global Investments Co., Ltd. Added +159,086+159.1k
WELLS FARGO & COMPANY/MN Added +107,326+107.3k
Teamwork Financial Advisors, LLC Added +71,618+71.6k
LPL Financial LLC Added +61,995+62.0k
AMERIPRISE FINANCIAL INC Added +57,441+57.4k
BNP PARIBAS FINANCIAL MARKETS Added +50,250+50.2k
BANK OF AMERICA CORP /DE/ Added +45,281+45.3k
Horizon Wealth Management, LLC Added +44,296+44.3k
Steward Partners Investment Advisory, LLC Added +43,365+43.4k

Biggest sellers

Corient Private Wealth LP Reduced -514,800-514.8k
CWM, LLC Reduced -82,099-82.1k
Robinhood Asset Management, LLC Reduced -49,334-49.3k
BREAKTHRU ADVISORY SERVICES, LLC Reduced -34,520-34.5k
OSAIC HOLDINGS, INC. Reduced -24,699-24.7k
Lido Advisors, LLC Reduced -23,807-23.8k
CoreCap Advisors, LLC Reduced -13,294-13.3k
SFI Advisors, LLC Reduced -11,214-11.2k
GOLDMAN SACHS GROUP INC Reduced -9,760-9.8k
Trivium Point Advisory, LLC Sold out -9,521-9.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $12.2m48.2k shares
JANE STREET GROUP, LLC Reduced $3.1m12.1k shares
CITADEL ADVISORS LLC Reduced $2.2m8.6k shares
NOVEM GROUP New $2.2m8.5k shares
Belvedere Trading LLC Added $711.1k2.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $5.0m19.7k shares
CITADEL ADVISORS LLC Added $1.3m5.3k shares
JANE STREET GROUP, LLC New $558.8k2.2k shares
Belvedere Trading LLC Reduced $279.4k1.1k 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 LPL Financial LLC 0.09% of their portfolio FORT MILL, SC 1,348,8821.3m $342.6m $342.6m 0.09% Added +62.0k +61,995
2 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 883,351883.4k $224.4m $224.4m 0.01% Added +185.3k +185,278
3 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 848,721848.7k $215.6m $215.6m 0.02% Added +45.3k +45,281
4 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 471,002471.0k $119.6m $119.6m 0.02% Added +107.3k +107,326
5 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 255,794255.8k $65.0m $65.0m 0.02% Added +336 +336
6 UBS Group AG 0.01% of their portfolio ZURICH, V8 246,385246.4k $62.6m $62.6m 0.01% Added +40.0k +40,014
7 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 235,359235.4k $59.9m $59.9m 0.01% Added +57.4k +57,441
8 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 212,861212.9k $54.1m $54.1m 0.01% Added +32.2k +32,181
9 Mirae Asset Global Investments Co., Ltd. 0.14% of their portfolio SEOUL, M5 188,486188.5k $47.9m $47.9m 0.14% Added +159.1k +159,086
10 Howard Capital Management Group, LLC 3.13% of their portfolio Los Angeles, CA 185,898185.9k $47.2m $47.2m 3.13% Added +878 +878
11 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 184,097184.1k $46.8m $46.8m 0.07% Added +26.7k +26,689
12 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 173,580173.6k $44.1m $44.1m 0.03% Added +50.2k +50,250
13 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 173,149173.1k $44.0m $44.0m 0.01% Added +27.9k +27,883
14 AFFINITY WEALTH MANAGEMENT LLC 6.05% of their portfolio WILMINGTON, DE 157,447157.4k $40.0m $40.0m 6.05% Reduced -3.1k -3,071
15 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 144,032144.0k $36.6m $36.6m 0.05% Reduced -24.7k -24,699
16 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 140,175140.2k $35.6m $35.6m 0.02% Added +11.5k +11,459
17 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 139,644139.6k $35.5m $35.5m 0.04% Added +17.4k +17,362
18 Enclave Advisors LLC 4.83% of their portfolio AUSTIN, TX 133,374133.4k $33.9m $33.9m 4.83% Added +3.4k +3,389
19 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 130,521130.5k $33.1m $33.1m 0.00% Reduced -9.8k -9,760
20 CWM, LLC 0.08% of their portfolio OMAHA, NE 124,568124.6k $31.6m $31.6m 0.08% Reduced -82.1k -82,099
21 Gerber Kawasaki Wealth & Investment Management 0.94% of their portfolio SANTA MONICA, CA 116,265116.3k $29.5m $29.5m 0.94% Reduced -2.4k -2,375
22 Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio FAIRFIELD, IA 114,267114.3k $29.0m $29.0m 0.07% Added +13.6k +13,648
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 107,109107.1k $25.9m $25.9m 0.00% Added +3.6k +3,639
24 Robinhood Asset Management, LLC 1.81% of their portfolio MENLO PARK, CA 98,15198.2k $24.9m $24.9m 1.81% Reduced -49.3k -49,334
25 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 77,86677.9k $19.8m $19.8m 0.02% Added +1.8k +1,834
26 Teamwork Financial Advisors, LLC 2.11% of their portfolio San Antonio, TX 74,90274.9k $19.0m $19.0m 2.11% Added +71.6k +71,618
27 CUMBERLAND ADVISORS INC 7.33% of their portfolio SARASOTA, FL 73,74773.7k $18.7m $18.7m 7.33% Reduced -2.3k -2,255
28 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 72,13372.1k $18.3m $18.3m 0.05% Added +16.7k +16,723
29 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 68,18268.2k $17.3m $17.3m 0.01% Added +18.7k +18,700
30 Kingsview Wealth Management, LLC 0.23% of their portfolio GRANTS PASS, OR 67,29567.3k $17.1m $17.1m 0.23% Reduced -7.2k -7,181
31 Horizon Wealth Management, LLC 2.44% of their portfolio LA GRANGE, IL 65,64565.6k $16.7m $16.7m 2.44% Added +44.3k +44,296
32 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 64,33664.3k $16.1m $16.1m 0.01% Added +29.9k +29,913
33 WESPAC Advisors SoCal, LLC 2.67% of their portfolio Pasadena, CA 49,36449.4k $12.5m $12.5m 2.67% Reduced -554 -554
34 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 48,20548.2k $12.2m $12.2m 0.01% Reduced -832 -832
35 Steward Partners Investment Advisory, LLC 0.06% of their portfolio STAMFORD, CT 46,40546.4k $11.8m $11.8m 0.06% Added +43.4k +43,365
36 ARMSTRONG ADVISORY GROUP, INC 0.79% of their portfolio NEEDHAM, MA 46,39346.4k $11.8m $11.8m 0.79% Added +21.4k +21,373
37 Merit Financial Group, LLC 0.08% of their portfolio ALPHARETTA, GA 42,93242.9k $10.9m $10.9m 0.08% Added +1.3k +1,256
38 CoreCap Advisors, LLC 0.36% of their portfolio SOUTHFIELD, MI 41,99542.0k $10.7m $10.7m 0.36% Reduced -13.3k -13,294
39 MEITAV INVESTMENT HOUSE LTD 0.11% of their portfolio BENE-BERAQ, L3 39,30539.3k $10.0m $10.0m 0.11% Reduced -5.2k -5,235
40 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 39,26639.3k $10.0m $10.0m 0.02% Added +206 +206
41 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 38,37338.4k $9.7m $9.7m 0.01% Added +29.8k +29,804
42 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 38,02238.0k $9.7m $9.7m 0.01% Added +15.8k +15,754
43 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 35,50435.5k $9.0m $9.0m 0.01% Added +13.8k +13,806
44 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 34,80434.8k $8.8m $8.8m 0.01% New
45 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 34,29634.3k $8.7m $8.7m 0.02% Reduced -2.5k -2,462
46 BOURGEON CAPITAL MANAGEMENT LLC 1.51% of their portfolio Darien, CT 34,10934.1k $8.7m $8.7m 1.51% Added +96 +96
47 FLC Capital Advisors 1.57% of their portfolio PALM DESERT, CA 34,08234.1k $8.7m $8.7m 1.57% Added +220 +220
48 Wealthfront Advisers LLC 0.02% of their portfolio Palo Alto, CA 33,11633.1k $8.4m $8.4m 0.02% Added +6.2k +6,191
49 Warner Group LLC 5.30% of their portfolio MADISON, CT 31,93831.9k $8.1m $8.1m 5.30% Added +1.7k +1,730
50 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 31,79031.8k $8.1m $8.1m 0.01% New
51 Kestra Advisory Services, LLC 0.03% of their portfolio AUSTIN, TX 30,22730.2k $7.7m $7.7m 0.03% Added +7.4k +7,394
52 Integrated Wealth Concepts LLC 0.06% of their portfolio WALTHAM, MA 29,60829.6k $7.5m $7.5m 0.06% Added +3.1k +3,111
53 Y.D. More Investments Ltd 0.28% of their portfolio Ramat Gan, L3 28,91028.9k $7.2m $7.2m 0.28% Added +3.7k +3,722
54 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 27,08527.1k $6.9m $6.9m 0.03% Added +1.5k +1,490
55 Quadrature Capital Ltd 0.08% of their portfolio LONDON, X0 26,99127.0k $6.9m $6.9m 0.08% Added +17.5k +17,467
56 HBW ADVISORY SERVICES LLC 0.71% of their portfolio SIMI VALLEY, CA 26,67926.7k $6.8m $6.8m 0.71% Added +21.7k +21,658
57 Sanctuary Advisors, LLC 0.04% of their portfolio INDIANAPOLIS, IN 25,80625.8k $6.6m $6.6m 0.04% Added +11.3k +11,349
58 HighPoint Advisor Group LLC 0.27% of their portfolio DOWNERS GROVE, IL 25,64325.6k $6.5m $6.5m 0.27% Added +8.3k +8,320
59 SOUTHERN CAPITAL SERVICES INC /ADV 4.10% of their portfolio DAPHNE, AL 25,10125.1k $6.4m $6.4m 4.10% Reduced -3.1k -3,135
60 Mariner, LLC 0.01% of their portfolio Overland Park, KS 24,47824.5k $6.2m $6.2m 0.01% Added +1.7k +1,694
61 Waverly Advisors, LLC 0.05% of their portfolio BIRMINGHAM, AL 24,15024.1k $6.1m $6.1m 0.05% Reduced -613 -613
62 IHT Wealth Management, LLC 0.14% of their portfolio Chicago, IL 23,85823.9k $6.1m $6.1m 0.14% Reduced -360 -360
63 VIEWPOINT INVESTMENT PARTNERS CORP 2.34% of their portfolio CALGARY, A0 23,28823.3k $5.1m $5.1m 2.34% Reduced -915 -915
64 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 22,63222.6k $5.7m $5.7m 0.01% Reduced -514.8k -514,800
65 Tower Research Capital LLC (TRC) 0.14% of their portfolio NEW YORK, NY 21,40421.4k $5.4m $5.4m 0.14% Added +2.9k +2,910
66 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 21,34221.3k $5.1m $5.1m 0.03% Added +5.7k +5,668
67 Point Nemo Capital, LLC 3.46% of their portfolio DRIPPING SPRINGS, TX 20,70220.7k $5.3m $5.3m 3.46% Added +15.0k +14,952
68 McGuire Investment Group, LLC 0.57% of their portfolio WAKEFIELD, RI 19,81719.8k $5.0m $5.0m 0.57% Added +262 +262
69 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 19,68619.7k $5.0m $5.0m 0.02% Added +3.5k +3,523
70 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 19,60019.6k $5.0m $5.0m 0.01% Added +5.9k +5,949
71 BROWN ADVISORY INC 0.01% of their portfolio BALTIMORE, MD 19,06519.1k $4.8m $4.8m 0.01% Added +46 +46
72 PRINCIPAL SECURITIES, INC. 0.07% of their portfolio DES MOINES, IA 18,81218.8k $4.8m $4.8m 0.07% Added +2.9k +2,868
73 Pacific Sun Financial Corp 2.20% of their portfolio LOS ANGELES, CA 17,91017.9k $4.5m $4.5m 2.20% Added +45 +45
74 CENTAURUS FINANCIAL, INC. 0.21% of their portfolio ANAHEIM, CA 17,73217.7k $4.5m $4.5m 0.21% Added +7.1k +7,082
75 Stratos Wealth Partners, LTD. 0.05% of their portfolio BEACHWOOD, OH 17,23417.2k $4.4m $4.4m 0.05% Added +1.2k +1,222
76 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 17,10017.1k $4.3m $4.3m 0.01% Added +247 +247
77 PINNACLE ASSOCIATES LTD 0.06% of their portfolio NEW YORK, NY 17,09217.1k $4.3m $4.3m 0.06% Reduced -57 -57
78 Buska Wealth Management, LLC 1.72% of their portfolio WAUSAU, WI 16,81716.8k $4.3m $4.3m 1.72% Reduced -7.5k -7,542
79 &PARTNERS 0.02% of their portfolio NASHVILLE, TN 16,66816.7k $4.2m $4.2m 0.02% Added +6.9k +6,900
80 Independent Advisor Alliance 0.05% of their portfolio CHARLOTTE, NC 16,63116.6k $4.2m $4.2m 0.05% New
81 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 16,53316.5k $4.2m $4.2m 0.00% Added +2.3k +2,282
82 Norris Financial Group, LLC 1.36% of their portfolio GREENVILLE, SC 16,37316.4k $4.2m $4.2m 1.36% Added +4.4k +4,431
83 Lido Advisors, LLC 0.02% of their portfolio Los Angeles, CA 16,10316.1k $4.1m $4.1m 0.02% Reduced -23.8k -23,807
84 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 16,02716.0k $4.1m $4.1m 0.02% Added +546 +546
85 Perigon Wealth Management, LLC 0.07% of their portfolio SAN FRANCISCO, CA 15,93015.9k $4.0m $4.0m 0.07% Reduced -1.0k -1,040
86 Jump Financial, LLC 0.06% of their portfolio Chicago, IL 15,64615.6k $4.0m $4.0m 0.06% New
87 NovaPoint Capital, LLC 0.99% of their portfolio ATLANTA, GA 15,55215.6k $3.9m $3.9m 0.99% Added +601 +601
88 INNEALTA CAPITAL, LLC 2.40% of their portfolio AUSTIN, TX 15,23415.2k $3.9m $3.9m 2.40% New
89 Migdal Insurance & Financial Holdings Ltd. 0.03% of their portfolio Petach Tikva, L3 15,13915.1k $3.8m $3.8m 0.03% Reduced -7.5k -7,463
90 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 14,80514.8k $3.8m $3.8m 0.01% Added +1.9k +1,857
91 Gladstone Institutional Advisory LLC 0.14% of their portfolio Bedminster, NJ 14,47214.5k $3.7m $3.7m 0.14% Added +13.6k +13,561
92 Hobart Private Capital, LLC 0.72% of their portfolio CHARLOTTE, NC 14,36114.4k $3.6m $3.6m 0.72% Added +1.5k +1,511
93 BEARING POINT CAPITAL, LLC 0.56% of their portfolio BLOOMINGTON, MN 14,05114.1k $3.6m $3.6m 0.56% Added +13.0k +13,001
94 Cavalier Investments, LLC 0.90% of their portfolio ALPHARETTA, GA 13,80413.8k $3.5m $3.5m 0.90% Unchanged
95 Snowden Capital Advisors LLC 0.09% of their portfolio New York, NY 13,68513.7k $3.5m $3.5m 0.09% Added +7.0k +6,975
96 Prostatis Group LLC 0.88% of their portfolio HANOVER, MD 13,51613.5k $3.4m $3.4m 0.88% Reduced -4.9k -4,861
97 WealthSpring Partners, LLC 3.10% of their portfolio LONG BEACH, CA 13,28913.3k $3.4m $3.4m 3.10% Added +1.7k +1,700
98 KESTRA PRIVATE WEALTH SERVICES, LLC 0.04% of their portfolio AUSTIN, TX 12,90612.9k $3.3m $3.3m 0.04% Reduced -88 -88
99 OPPENHEIMER & CO INC 0.04% of their portfolio NEW YORK, NY 12,58812.6k $3.2m $3.2m 0.04% Added +220 +220
100 Yelin Lapidot Holdings Management Ltd. 0.66% of their portfolio Tel Aviv, L3 12,50012.5k $3.2m $3.2m 0.66% Unchanged