Vault-13

SPDR SERIES TRUST XME

S&P METALS MNG · ETP · CUSIP 78464A755

267 institutional holders +7 vs Q1 2025
23,739,50023.7m shares reported held*
$1.6bnreported value*
45 new 70 added 87 reduced 43 sold out net bought ≈ $151.6m (+2.3m 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 ($1.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $67.24. Options: 14 managers hold calls ($250.4m notional), 19 hold puts ($526.8m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 244Q4 22: 282Q1 23: 291Q2 23: 278Q3 23: 266Q4 23: 273Q1 24: 270Q2 24: 296Q3 24: 259Q4 24: 277Q1 25: 260Q2 25: 267267Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022244
Q4 2022282
Q1 2023291
Q2 2023278
Q3 2023266
Q4 2023273
Q1 2024270
Q2 2024296
Q3 2024259
Q4 2024277
Q1 2025260
Q2 2025267

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 118 bought or addedQ3 23: 138 cut or sold outQ4 23: 127 bought or addedQ4 23: 129 cut or sold outQ4 23Q1 24: 135 bought or addedQ1 24: 136 cut or sold outQ2 24: 155 bought or addedQ2 24: 117 cut or sold outQ2 24Q3 24: 84 bought or addedQ3 24: 179 cut or sold outQ4 24: 135 bought or addedQ4 24: 97 cut or sold outQ4 24Q1 25: 110 bought or addedQ1 25: 143 cut or sold outQ2 25: 115 bought or addedQ2 25: 130 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023118138
Q4 2023127129
Q1 2024135136
Q2 2024155117
Q3 202484179
Q4 202413597
Q1 2025110143
Q2 2025115130

Calls vs puts

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

CallsPuts
$0$250m$500m$750m$1bnQ3 24 calls: $652.6mQ3 24 puts: $828.6mQ3 24P/C 1.27Q4 24 calls: $231.9mQ4 24 puts: $614.7mQ4 24P/C 2.65Q1 25 calls: $249.1mQ1 25 puts: $454.1mQ1 25P/C 1.82Q2 25 calls: $250.4mQ2 25 puts: $526.8mQ2 25P/C 2.10
Numbers
QuarterCallsPutsP/C
Q3 2024$652.6m$828.6m1.27
Q4 2024$231.9m$614.7m2.65
Q1 2025$249.1m$454.1m1.82
Q2 2025$250.4m$526.8m2.10

Biggest buyers

MENORA MIVTACHIM HOLDINGS LTD. Added +1,935,000+1.9m
JPMORGAN CHASE & CO Added +1,887,867+1.9m
BARCLAYS PLC Added +253,773+253.8k
ROYAL BANK OF CANADA Added +251,513+251.5k
GOLDMAN SACHS GROUP INC Added +239,784+239.8k
Condire Management, LP New +152,085+152.1k
Decker Retirement Planning Inc. New +124,256+124.3k
Squarepoint Ops LLC New +114,221+114.2k
AE Wealth Management LLC Added +109,343+109.3k
PRUDENTIAL PLC Added +104,860+104.9k

Biggest sellers

Clal Insurance Enterprises Holdings Ltd Reduced -525,000-525.0k
CITIGROUP INC Reduced -457,015-457.0k
Financial Advocates Investment Management Sold out -256,410-256.4k
UBS Group AG Reduced -183,880-183.9k
HSBC HOLDINGS PLC Sold out -180,506-180.5k
CAPSTONE INVESTMENT ADVISORS, LLC Reduced -174,680-174.7k
CITADEL ADVISORS LLC Reduced -171,325-171.3k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sold out -147,533-147.5k
Lake Hills Wealth Management, LLC Sold out -124,714-124.7k
OSAIC HOLDINGS, INC. Reduced -114,097-114.1k

Biggest calls

UBS Group AG Added $97.7m1.5m shares
GOLDMAN SACHS GROUP INC Added $28.0m416.2k shares
WELLS FARGO & COMPANY/MN Reduced $25.4m377.6k shares
CAPSTONE INVESTMENT ADVISORS, LLC Added $25.1m373.6k shares
MILLENNIUM MANAGEMENT LLC Added $20.6m306.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $17.2m256.3k shares
JANE STREET GROUP, LLC Reduced $14.1m209.6k shares
CITADEL ADVISORS LLC Reduced $7.3m109.0k shares
BNP PARIBAS FINANCIAL MARKETS Unchanged $5.0m750 shares
PEAK6 LLC Reduced $3.9m58.6k shares

Biggest puts

Elliott Investment Management L.P. Added $191.6m2.9m shares
JANE STREET GROUP, LLC Added $106.4m1.6m shares
UBS Group AG Reduced $33.8m503.0k shares
BANK OF AMERICA CORP /DE/ Reduced $33.6m500.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $30.6m454.5k shares
BNP PARIBAS FINANCIAL MARKETS Added $29.0m4.3k shares
CAPSTONE INVESTMENT ADVISORS, LLC Added $25.1m373.6k shares
CITADEL ADVISORS LLC Reduced $18.6m276.9k shares
SIG BROKERAGE, LP Added $18.0m267.5k shares
SCOPUS ASSET MANAGEMENT, L.P. Reduced $16.5m246.2k 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MENORA MIVTACHIM HOLDINGS LTD. 1.08% of their portfolio Ramat Gan, L3 2,793,0502.8m $187.7m $187.7m 1.08% Added +1.9m +1,935,000
2 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,287,6632.3m $153.8m $153.8m 0.01% Reduced -36.4k -36,410
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 2,128,0832.1m $143.0m $143.0m 0.01% Added +60.3k +60,273
4 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,959,3222.0m $131.7m $131.7m 0.01% Added +1.9m +1,887,867
5 BARCLAYS PLC 0.04% of their portfolio LONDON, X0 1,360,9981.4m $91.5m $91.5m 0.04% Added +253.8k +253,773
6 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,237,8541.2m $83.2m $83.2m 0.01% Added +239.8k +239,784
7 Clal Insurance Enterprises Holdings Ltd 0.66% of their portfolio Tel-aviv, L3 1,000,0001.0m $67.2m $67.2m 0.66% Reduced -525.0k -525,000
8 Vanderbilt University 12.32% of their portfolio NASHVILLE, TN 971,339971.3k $65.3m $65.3m 12.32% Added +1.5k +1,480
9 Harel Insurance Investments & Financial Services Ltd. 0.72% of their portfolio Ramat Gan, L3 935,500935.5k $62.9m $62.9m 0.72% Unchanged
10 NATIXIS 0.27% of their portfolio PARIS, I0 802,788802.8k $54.0m $54.0m 0.27% Unchanged
11 TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio NEW YORK, NY 600,000600.0k $40.3m $40.3m 0.07% Unchanged
12 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 468,275468.3k $31.5m $31.5m 0.01% Added +10.6k +10,559
13 SCS Capital Management LLC 0.34% of their portfolio BOSTON, MA 455,434455.4k $30.6m $30.6m 0.34% Added +8.7k +8,687
14 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 444,608444.6k $29.9m $29.9m 0.00% Added +251.5k +251,513
15 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 346,691346.7k $23.3m $23.3m 0.01% Reduced -18.7k -18,716
16 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 319,823319.8k $21.5m $21.5m 0.03% Reduced -45.1k -45,109
17 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 224,681224.7k $15.1m $15.1m 0.00% Added +36.0k +36,038
18 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 201,328201.3k $13.5m $13.5m 0.01% Reduced -111.2k -111,212
19 UBS Group AG 0.00% of their portfolio ZURICH, V8 180,166180.2k $12.1m $12.1m 0.00% Reduced -183.9k -183,880
20 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 173,992174.0k $11.7m $11.7m 0.01% Reduced -457.0k -457,015
21 Condire Management, LP 1.47% of their portfolio DALLAS, TX 152,085152.1k $10.2m $10.2m 1.47% New
22 Volterra Technologies LP 13.21% of their portfolio New York, NY 145,333145.3k $9.8m $9.8m 13.21% First filing
23 PRUDENTIAL PLC 0.06% of their portfolio LONDON, X0 135,700135.7k $9.1m $9.1m 0.06% Added +104.9k +104,860
24 Decker Retirement Planning Inc. 4.84% of their portfolio LEVI, UT 124,256124.3k $8.4m $8.4m 4.84% New
25 Legend Financial Advisors, Inc. 5.50% of their portfolio PITTSBURGH, PA 123,205123.2k $8.3m $8.3m 5.50% Reduced -2.2k -2,240
26 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 117,677117.7k $7.9m $7.9m 0.01% Reduced -114.1k -114,097
27 Squarepoint Ops LLC 0.02% of their portfolio NEW YORK, NY 114,221114.2k $7.7m $7.7m 0.02% New
28 AE Wealth Management LLC 0.05% of their portfolio TOPEKA, KS 111,294111.3k $7.5m $7.5m 0.05% Added +109.3k +109,343
29 Cresset Asset Management, LLC 0.04% of their portfolio Chicago, IL 109,394109.4k $7.4m $7.4m 0.04% Added +5.8k +5,802
30 FORTEM FINANCIAL GROUP, LLC 2.28% of their portfolio PALM DESERT, CA 105,040105.0k $7.1m $7.1m 2.28% Added +6.3k +6,289
31 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 104,263104.3k $7.0m $7.0m 0.01% Reduced -171.3k -171,325
32 Tower Research Capital LLC (TRC) 0.19% of their portfolio NEW YORK, NY 102,927102.9k $6.9m $6.9m 0.19% Added +54.5k +54,544
33 Allianz SE 0.16% of their portfolio Munich, 2M 101,070101.1k $6.8m $6.8m 0.16% Added +14.5k +14,500
34 Ted Buchan & Co 2.42% of their portfolio San Diego, CA 90,51690.5k $6.1m $6.1m 2.42% Added +5.1k +5,127
35 Graham Capital Management, L.P. 0.18% of their portfolio ROWAYTON, CT 90,00090.0k $6.0m $6.0m 0.18% Reduced -52.0k -52,000
36 JENNISON ASSOCIATES LLC 0.00% of their portfolio NEW YORK, NY 81,59081.6k $5.5m $5.5m 0.00% Reduced -20.6k -20,595
37 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 78,51078.5k $5.3m $5.3m 0.01% Added +30.3k +30,310
38 FOCUS Wealth Advisors, LLC 2.69% of their portfolio HOUSTON, TX 76,97077.0k $5.2m $5.2m 2.69% Added +391 +391
39 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 73,79573.8k $5.0m $5.0m 0.01% Reduced -15.5k -15,457
40 HERBST GROUP, LLC 2.88% of their portfolio WESTPORT, CT 71,45271.5k $4.8m $4.8m 2.88% Reduced -3.3k -3,279
41 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 69,23369.2k $4.7m $4.7m 0.00% Reduced -5.7k -5,666
42 ARS Investment Partners, LLC 0.33% of their portfolio New York, NY 67,96868.0k $4.6m $4.6m 0.33% Reduced -17.1k -17,090
43 OKABENA INVESTMENT SERVICES INC 0.98% of their portfolio MINNEAPOLIS, MN 65,38765.4k $4.4m $4.4m 0.98% Unchanged
44 TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio STAMFORD, CT 64,57564.6k $4.3m $4.3m 0.03% New
45 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 61,12561.1k $4.1m $4.1m 0.01% Reduced -87 -87
46 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 58,03458.0k $3.9m $3.9m 0.02% Added +4.1k +4,107
47 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 56,78256.8k $3.8m $3.8m 0.00% Added +8.2k +8,218
48 Jaffetilchin Investment Partners, LLC 0.24% of their portfolio TAMPA, FL 54,01054.0k $3.6m $3.6m 0.24% Added +560 +560
49 WOLVERINE TRADING, LLC 0.09% of their portfolio CHICAGO, IL 53,50453.5k $3.6m $3.6m 0.09% Reduced -39.5k -39,509
50 Private Wealth Advisors, LLC 1.40% of their portfolio Fresno, CA 52,99353.0k $3.6m $3.6m 1.40% Added +659 +659
51 Silver Coast Investments LLC 1.17% of their portfolio SAN DIEGO, X1 47,79047.8k $3.2m $3.2m 1.17% Reduced -6.9k -6,872
52 Wellington Shields Capital Management, LLC 0.54% of their portfolio NEW YORK, NY 47,14747.1k $3.2m $3.2m 0.54% Reduced -30.8k -30,832
53 Dynamic Advisor Solutions LLC 0.10% of their portfolio PHOENIX, AZ 46,97947.0k $3.2m $3.2m 0.10% Added +16.5k +16,472
54 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 45,13645.1k $3.0m $3.0m 0.00% Reduced -545 -545
55 Greenline Partners, LLC 0.38% of their portfolio NEW YORK, NY 41,84041.8k $2.8m $2.8m 0.38% Added +3.1k +3,109
56 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 40,18440.2k $2.7m $2.7m 0.01% Reduced -843 -843
57 SCOTIA CAPITAL INC. 0.01% of their portfolio TORONTO, A6 39,65139.7k $2.7m $2.7m 0.01% Added +1.1k +1,099
58 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 39,55139.6k $2.7m $2.7m 0.00% Added +321 +321
59 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 38,80038.8k $2.6m $2.6m 0.01% Unchanged
60 Caption Management, LLC 0.24% of their portfolio OKLAHOMA CITY, OK 38,80038.8k $2.6m $2.6m 0.24% New
61 HERITAGE OAK WEALTH ADVISORS LLC 0.98% of their portfolio SANTA ROSA BEACH, FL 37,71137.7k $2.5m $2.5m 0.98% Reduced -158 -158
62 Empowered Funds, LLC 0.03% of their portfolio NEWTOWN SQUARE, PA 37,03137.0k $2.5m $2.5m 0.03% New
63 180 WEALTH ADVISORS, LLC 0.35% of their portfolio FEDERAL WAY, WA 36,81736.8k $2.5m $2.5m 0.35% Added +2.2k +2,165
64 HITE Hedge Asset Management LLC 0.14% of their portfolio BRAINTREE, MA 35,65935.7k $2.4m $2.4m 0.14% New
65 Fifth Third Securities, Inc. 0.18% of their portfolio Cincinnati, OH 35,37135.4k $2.4m $2.4m 0.18% Reduced -39.0k -39,004
66 Veltria Advisors Corp. 1.58% of their portfolio MIAMI, FL 35,11735.1k $2.4m $2.4m 1.58% Unchanged
67 Family Firm, Inc. 0.56% of their portfolio BETHESDA, MD 34,71434.7k $2.3m $2.3m 0.56% Reduced -168 -168
68 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 32,43032.4k $2.2m $2.2m 0.01% Reduced -4.3k -4,292
69 PFG Advisors 0.09% of their portfolio Phoenix, AZ 29,17729.2k $2.0m $2.0m 0.09% Added +22.8k +22,750
70 Hilltop Holdings Inc. 0.12% of their portfolio DALLAS, TX 28,39728.4k $1.9m $1.9m 0.12% New
71 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 28,28828.3k $1.9m $1.9m 0.00% Added +11.1k +11,100
72 Compagnie Lombard Odier SCmA 0.02% of their portfolio 1204 GENEVA, V8 28,20028.2k $1.9m $1.9m 0.02% Unchanged
73 Maven Securities LTD 0.49% of their portfolio ST HELIER, Y9 28,15628.2k $1.9m $1.9m 0.49% Added +22.0k +21,975
74 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 27,63627.6k $1.9m $1.9m 0.00% Reduced -14.0k -14,016
75 Pekin Hardy Strauss, Inc. 0.20% of their portfolio CHICAGO, IL 26,56426.6k $1.8m $1.8m 0.20% Reduced -2.1k -2,066
76 Jain Global LLC 0.03% of their portfolio NEW YORK, NY 26,38726.4k $1.8m $1.8m 0.03% New
77 Heartwood Wealth Advisors LLC 0.18% of their portfolio RICHMOND, VA 25,76625.8k $1.7m $1.7m 0.18% Added +35 +35
78 HARBOUR INVESTMENTS, INC. 0.04% of their portfolio MADISON, WI 25,74125.7k $1.7m $1.7m 0.04% Added +360 +360
79 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 25,69525.7k $1.7m $1.7m 0.00% Added +4.3k +4,335
80 Clarus Wealth Advisors 0.80% of their portfolio PEORIA, AZ 25,21825.2k $1.7m $1.7m 0.80% New
81 Stamos Capital Partners, L.P. 0.30% of their portfolio Menlo Park, CA 24,50124.5k $1.6m $1.6m 0.30% Added +5.1k +5,121
82 EHP Funds Inc. 1.84% of their portfolio TORONTO, Z4 23,80023.8k $1.6m $1.6m 1.84% Reduced -22.4k -22,400
83 IHT Wealth Management, LLC 0.04% of their portfolio Chicago, IL 23,05423.1k $1.5m $1.5m 0.04% Reduced -515 -515
84 EVOKE WEALTH, LLC 0.04% of their portfolio Los Angeles, CA 22,83622.8k $1.5m $1.5m 0.04% Added +20 +20
85 PINNACLE ASSOCIATES LTD 0.02% of their portfolio NEW YORK, NY 22,65422.7k $1.5m $1.5m 0.02% Reduced -172 -172
86 INDEPENDENT FINANCIAL GROUP, LLC 0.04% of their portfolio SAN DIEGO, CA 22,31022.3k $1.5m $1.5m 0.04% Reduced -1.4k -1,409
87 Y-Intercept (Hong Kong) Ltd 0.04% of their portfolio HONG KONG, K3 21,75021.8k $1.5m $1.5m 0.04% New
88 CAPSTONE INVESTMENT ADVISORS, LLC 0.01% of their portfolio NEW YORK, NY 21,45321.5k $1.4m $1.4m 0.01% Reduced -174.7k -174,680
89 TD Waterhouse Canada Inc. 0.01% of their portfolio TORONTO, A6 21,25021.2k $1.4m $1.4m 0.01% Reduced -200 -200
90 Daiwa Securities Group Inc. 0.01% of their portfolio CHIYODA-KU,TOKYO, M0 20,78020.8k $1.4m $1.4m 0.01% Reduced -3.3k -3,300
91 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 19,82619.8k $1.3m $1.3m 0.00% Added +1.5k +1,521
92 Capital Wealth Alliance, LLC 0.70% of their portfolio Scottsdale, AZ 19,32419.3k $1.3m $1.3m 0.70% Added +671 +671
93 Snowden Capital Advisors LLC 0.04% of their portfolio New York, NY 19,30919.3k $1.3m $1.3m 0.04% Reduced -400 -400
94 Darwin Wealth Management, LLC 0.45% of their portfolio TAMPA, FL 19,24519.2k $1.3m $1.3m 0.45% Added +196 +196
95 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 18,42218.4k $1.2m $1.2m 0.00% Reduced -12.4k -12,365
96 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 18,06818.1k $1.2m $1.2m 0.03% Reduced -2.7k -2,700
97 CWM, LLC 0.00% of their portfolio OMAHA, NE 17,76917.8k $1.2m $1.2m 0.00% Added +6.6k +6,613
98 CALTON & ASSOCIATES, INC. 0.20% of their portfolio Tampa, FL 17,44517.4k $1.2m $1.2m 0.20% Reduced -414 -414
99 Mariner, LLC 0.00% of their portfolio Overland Park, KS 17,01717.0k $1.1m $1.1m 0.00% Reduced -741 -741
100 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 16,55816.6k $1.1m $1.1m 0.00% Reduced -1.1k -1,086