Vault-13

SPDR SERIES TRUST XME

S&P METALS MNG · ETP · CUSIP 78464A755

377 institutional holders +61 vs Q3 2025
23,169,70723.2m shares reported held*
$2.4bnreported value*
91 new 107 added 108 reduced 40 sold out net bought ≈ $18.2m (+188.6k 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 ($4.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $103.69. Options: 23 managers hold calls ($863.0m notional), 27 hold puts ($990.7m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 244Q4 22: 282Q1 23: 291Q2 23: 278Q3 23: 266Q4 23: 273Q1 24: 270Q2 24: 296Q3 24: 259Q4 24: 277Q1 25: 260Q2 25: 267Q3 25: 316Q4 25: 377377Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 2025316
Q4 2025377

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 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 25Q3 25: 169 bought or addedQ3 25: 108 cut or sold outQ4 25: 198 bought or addedQ4 25: 148 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024135136
Q2 2024155117
Q3 202484179
Q4 202413597
Q1 2025110143
Q2 2025115130
Q3 2025169108
Q4 2025198148

Calls vs puts

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

CallsPuts
$0$250m$500m$750m$1bnQ1 25 calls: $249.1mQ1 25 puts: $454.1mQ1 25P/C 1.82Q2 25 calls: $250.4mQ2 25 puts: $526.8mQ2 25P/C 2.10Q3 25 calls: $437.0mQ3 25 puts: $860.2mQ3 25P/C 1.97Q4 25 calls: $863.0mQ4 25 puts: $990.7mQ4 25P/C 1.15
Numbers
QuarterCallsPutsP/C
Q1 2025$249.1m$454.1m1.82
Q2 2025$250.4m$526.8m2.10
Q3 2025$437.0m$860.2m1.97
Q4 2025$863.0m$990.7m1.15

Biggest buyers

UBS Group AG Added +1,189,088+1.2m
BANK OF NOVA SCOTIA Added +833,020+833.0k
MEITAV INVESTMENT HOUSE LTD Added +830,490+830.5k
BNP PARIBAS FINANCIAL MARKETS Added +297,048+297.0k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New +200,000+200.0k
CWM, LLC Added +172,227+172.2k
SCHRODER INVESTMENT MANAGEMENT GROUP New +156,000+156.0k
WESTWOOD HOLDINGS GROUP INC New +140,479+140.5k
D. E. Shaw & Co., Inc. New +125,310+125.3k
Condire Management, LP Added +118,375+118.4k

Biggest sellers

MENORA MIVTACHIM HOLDINGS LTD. Sold out -2,303,550-2.3m
JPMORGAN CHASE & CO Reduced -638,924-638.9k
NATIXIS Reduced -351,015-351.0k
BARCLAYS PLC Reduced -293,828-293.8k
Volterra Technologies LP Sold out -203,816-203.8k
PRUDENTIAL PLC Sold out -178,400-178.4k
Tidal Investments LLC Reduced -152,424-152.4k
ENVESTNET ASSET MANAGEMENT INC Reduced -140,321-140.3k
SCS Capital Management LLC Reduced -132,249-132.2k
MILLENNIUM MANAGEMENT LLC Reduced -94,718-94.7k

Biggest calls

BARCLAYS PLC Added $169.6m1.6m shares
UBS Group AG Added $164.3m1.6m shares
CITADEL ADVISORS LLC Added $119.7m1.2m shares
PEAK6 LLC Added $92.3m890.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $86.8m837.6k shares
Capula Management Ltd Not comparable $41.4m400.0k shares
Squarepoint Ops LLC New $36.3m350.1k shares
JANE STREET GROUP, LLC Added $31.5m303.7k shares
Volterra Technologies LP Added $23.5m227.1k shares
Caption Management, LLC Added $20.7m200.0k shares

Biggest puts

UBS Group AG Added $177.5m1.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $121.0m1.2m shares
JANE STREET GROUP, LLC Added $120.2m1.2m shares
Elliott Investment Management L.P. Reduced $93.2m900.0k shares
BARCLAYS PLC Reduced $76.8m741.2k shares
MILLENNIUM MANAGEMENT LLC Added $62.5m603.0k shares
Squarepoint Ops LLC New $40.0m386.2k shares
CITIGROUP INC New $39.4m380.0k shares
CITADEL ADVISORS LLC Reduced $34.0m328.3k shares
SCOPUS ASSET MANAGEMENT, L.P. Reduced $31.1m300.0k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 2,465,5182.5m $255.5m $255.5m 0.02% Reduced -67.3k -67,280
2 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,881,8691.9m $195.0m $195.0m 0.01% Added +12.2k +12,155
3 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,496,8071.5m $155.1m $155.1m 0.03% Added +1.2m +1,189,088
4 BNP PARIBAS FINANCIAL MARKETS 0.09% of their portfolio PARIS, I0 1,377,7121.4m $142.7m $142.7m 0.09% Added +297.0k +297,048
5 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,154,5541.2m $119.6m $119.6m 0.02% Reduced -44.1k -44,102
6 BANK OF NOVA SCOTIA 0.16% of their portfolio TORONTO, A6 1,035,0721.0m $107.2m $107.2m 0.16% Added +833.0k +833,020
7 Vanderbilt University 17.22% of their portfolio NASHVILLE, TN 973,559973.6k $100.9m $100.9m 17.22% Added +1.1k +1,150
8 Harel Insurance Investments & Financial Services Ltd. 0.83% of their portfolio Ramat Gan, L3 921,500921.5k $95.5m $95.5m 0.83% Unchanged
9 MEITAV INVESTMENT HOUSE LTD 1.00% of their portfolio BENE-BERAQ, L3 839,104839.1k $86.9m $86.9m 1.00% Added +830.5k +830,490
10 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 770,551770.6k $79.8m $79.8m 0.02% Reduced -35.7k -35,699
11 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 608,679608.7k $63.1m $63.1m 0.02% Added +37.0k +36,989
12 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 522,406522.4k $54.1m $54.1m 0.02% Reduced -293.8k -293,828
13 CITIGROUP INC 0.04% of their portfolio NEW YORK, NY 504,017504.0k $52.2m $52.2m 0.04% Added +18.1k +18,123
14 NATIXIS 0.18% of their portfolio PARIS, I0 453,635453.6k $47.0m $47.0m 0.18% Reduced -351.0k -351,015
15 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 406,953407.0k $42.2m $42.2m 0.01% Added +37.0k +37,050
16 SCS Capital Management LLC 0.34% of their portfolio BOSTON, MA 307,647307.6k $31.9m $31.9m 0.34% Reduced -132.2k -132,249
17 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 285,852285.9k $29.6m $29.6m 0.03% Reduced -37.5k -37,476
18 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 262,062262.1k $27.2m $27.2m 0.00% Reduced -70.4k -70,395
19 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.04% of their portfolio TORONTO, A6 200,000200.0k $20.7m $20.7m 0.04% New
20 CWM, LLC 0.05% of their portfolio OMAHA, NE 189,856189.9k $19.7m $19.7m 0.05% Added +172.2k +172,227
21 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 156,000156.0k $16.3m $16.3m 0.01% New
22 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 146,151146.2k $15.1m $15.1m 0.02% Reduced -24.3k -24,289
23 WESTWOOD HOLDINGS GROUP INC 0.12% of their portfolio DALLAS, TX 140,479140.5k $14.6m $14.6m 0.12% New
24 POTOMAC FUND MANAGEMENT INC /ADV 0.50% of their portfolio BETHESDA, MD 131,633131.6k $13.6m $13.6m 0.50% Reduced -490 -490
25 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 125,310125.3k $13.0m $13.0m 0.01% New
26 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 124,137124.1k $12.9m $12.9m 0.00% Reduced -1.1k -1,067
27 Condire Management, LP 1.32% of their portfolio DALLAS, TX 122,451122.5k $12.7m $12.7m 1.32% Added +118.4k +118,375
28 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 120,415120.4k $12.5m $12.5m 0.02% Reduced -8.7k -8,744
29 Private Advisor Group, LLC 0.06% of their portfolio MORRISTOWN, NJ 114,867114.9k $11.9m $11.9m 0.06% Added +19.0k +19,024
30 SMI Advisory Services, LLC 2.31% of their portfolio COLUMBUS, IN 111,207111.2k $13.4m $13.4m 2.31% Added +790 +790
31 FORTEM FINANCIAL GROUP, LLC 2.97% of their portfolio PALM DESERT, CA 107,272107.3k $11.1m $11.1m 2.97% Added +323 +323
32 Jump Financial, LLC 0.14% of their portfolio Chicago, IL 105,950106.0k $11.0m $11.0m 0.14% New
33 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 105,643105.6k $10.9m $10.9m 0.01% Reduced -563 -563
34 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 103,385103.4k $10.7m $10.7m 0.00% Added +2.8k +2,831
35 Legend Financial Advisors, Inc. 5.79% of their portfolio PITTSBURGH, PA 92,31892.3k $9.6m $9.6m 5.79% Reduced -15.7k -15,676
36 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 90,82590.8k $9.4m $9.4m 0.01% Added +42.5k +42,535
37 Decker Retirement Planning Inc. 4.64% of their portfolio LEVI, UT 90,05390.1k $9.3m $9.3m 4.64% Added +42.3k +42,268
38 AE Wealth Management LLC 0.05% of their portfolio TOPEKA, KS 89,01489.0k $9.2m $9.2m 0.05% Added +15.6k +15,574
39 Allianz SE 0.11% of their portfolio Munich, 2M 85,77085.8k $8.9m $8.9m 0.11% Added +1.5k +1,500
40 JENNISON ASSOCIATES LLC 0.01% of their portfolio NEW YORK, NY 82,70882.7k $8.6m $8.6m 0.01% Reduced -783 -783
41 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 79,99480.0k $8.3m $8.3m 0.00% Added +5.4k +5,442
42 Lake Hills Wealth Management, LLC 4.31% of their portfolio AUSTIN, TX 79,76479.8k $8.3m $8.3m 4.31% New
43 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 79,64079.6k $8.3m $8.3m 0.01% Added +28.5k +28,505
44 Ted Buchan & Co 2.89% of their portfolio San Diego, CA 75,96076.0k $7.9m $7.9m 2.89% Added +3.1k +3,127
45 FOCUS Wealth Advisors, LLC 3.62% of their portfolio HOUSTON, TX 75,00475.0k $7.8m $7.8m 3.62% Reduced -1.6k -1,582
46 TUDOR INVESTMENT CORP ET AL 0.04% of their portfolio STAMFORD, CT 74,91374.9k $7.8m $7.8m 0.04% Added +33.0k +32,962
47 Kingsview Wealth Management, LLC 0.11% of their portfolio GRANTS PASS, OR 70,78570.8k $7.3m $7.3m 0.11% Reduced -9.3k -9,334
48 OKABENA INVESTMENT SERVICES INC 1.29% of their portfolio MINNEAPOLIS, MN 65,38765.4k $6.8m $6.8m 1.29% Unchanged
49 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 63,84563.8k $6.6m $6.6m 0.01% Added +53.9k +53,925
50 Cresset Asset Management, LLC 0.03% of their portfolio Chicago, IL 62,85762.9k $6.5m $6.5m 0.03% Reduced -35.1k -35,073
51 HERBST GROUP, LLC 3.73% of their portfolio WESTPORT, CT 61,20161.2k $6.3m $6.3m 3.73% Reduced -175 -175
52 EVOKE WEALTH, LLC 0.12% of their portfolio Los Angeles, CA 61,03161.0k $6.3m $6.3m 0.12% Added +3.4k +3,354
53 Wellington Shields Capital Management, LLC 0.90% of their portfolio NEW YORK, NY 59,34159.3k $6.1m $6.1m 0.90% Added +12.6k +12,620
54 Beacon Pointe Advisors, LLC 0.04% of their portfolio NEWPORT BEACH, CA 58,99359.0k $6.1m $6.1m 0.04% Added +26.9k +26,860
55 Tidal Investments LLC 0.02% of their portfolio Milwaukee, WI 55,13055.1k $5.7m $5.7m 0.02% Reduced -152.4k -152,424
56 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 54,39554.4k $5.6m $5.6m 0.01% Added +8.0k +8,040
57 Uniting Wealth Partners, LLC 1.70% of their portfolio DENVER, CO 53,45453.5k $5.5m $5.5m 1.70% New
58 Jaffetilchin Investment Partners, LLC 0.32% of their portfolio TAMPA, FL 53,17853.2k $5.5m $5.5m 0.32% Reduced -17 -17
59 Caption Management, LLC 0.24% of their portfolio OKLAHOMA CITY, OK 52,40052.4k $5.4m $5.4m 0.24% New
60 Amitell Capital Pte Ltd 5.97% of their portfolio SINGAPORE, U0 51,57351.6k $5.3m $5.3m 5.97% New
61 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 51,15051.1k $5.3m $5.3m 0.01% Reduced -4.3k -4,346
62 Norris Financial Group, LLC 1.77% of their portfolio GREENVILLE, SC 50,22450.2k $5.2m $5.2m 1.77% Reduced -3.8k -3,759
63 Woodline Partners LP 0.02% of their portfolio San Francisco, CA 49,78349.8k $5.2m $5.2m 0.02% New
64 Mariner, LLC 0.01% of their portfolio Overland Park, KS 49,08249.1k $5.1m $5.1m 0.01% Added +471 +471
65 Tradewinds, LLC. 1.21% of their portfolio RALEIGH, NC 48,96849.0k $5.1m $5.1m 1.21% Added +686 +686
66 ARS Investment Partners, LLC 0.26% of their portfolio New York, NY 43,12743.1k $4.5m $4.5m 0.26% Reduced -1.5k -1,456
67 SIMPLEX TRADING, LLC 0.13% of their portfolio CHICAGO, IL 43,01243.0k $4.5m $4.5m 0.13% New
68 Dynamic Advisor Solutions LLC 0.14% of their portfolio PHOENIX, AZ 43,00243.0k $4.5m $4.5m 0.14% Reduced -5.8k -5,754
69 Greenline Partners, LLC 0.48% of their portfolio NEW YORK, NY 40,61240.6k $4.2m $4.2m 0.48% Reduced -1.2k -1,228
70 SCOTIA CAPITAL INC. 0.02% of their portfolio TORONTO, A6 40,27240.3k $4.2m $4.2m 0.02% Added +2.9k +2,938
71 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 39,54439.5k $4.1m $4.1m 0.00% Added +14.3k +14,274
72 180 WEALTH ADVISORS, LLC 0.46% of their portfolio FEDERAL WAY, WA 38,87538.9k $4.0m $4.0m 0.46% Added +1.5k +1,521
73 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 38,80038.8k $4.0m $4.0m 0.01% Reduced -16.0k -16,000
74 Private Wealth Advisors, LLC 1.44% of their portfolio Fresno, CA 38,67838.7k $4.0m $4.0m 1.44% Reduced -13.3k -13,269
75 Walleye Trading LLC 0.06% of their portfolio NEW YORK, NY 38,59638.6k $4.0m $4.0m 0.06% New
76 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 37,82837.8k $3.9m $3.9m 0.00% Reduced -638.9k -638,924
77 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 37,29037.3k $3.9m $3.9m 0.00% Added +18.3k +18,252
78 Silver Coast Investments LLC 1.17% of their portfolio SAN DIEGO, X1 32,82632.8k $3.4m $3.4m 1.17% Reduced -5.1k -5,114
79 HERITAGE OAK WEALTH ADVISORS LLC 1.24% of their portfolio SANTA ROSA BEACH, FL 32,31032.3k $3.3m $3.3m 1.24% Reduced -93 -93
80 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 31,79931.8k $3.3m $3.3m 0.01% Reduced -2.0k -1,967
81 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 31,66331.7k $3.3m $3.3m 0.00% Reduced -140.3k -140,321
82 Advocate Investing Services LLC 2.91% of their portfolio WOODBINE, MD 31,32631.3k $3.2m $3.2m 2.91% First filing
83 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 30,96331.0k $3.2m $3.2m 0.00% Added +3.0k +2,965
84 FOUNDERS FINANCIAL SECURITIES LLC 0.19% of their portfolio TOWSON, MD 30,79030.8k $3.2m $3.2m 0.19% Added +869 +869
85 Compagnie Lombard Odier SCmA 0.03% of their portfolio 1204 GENEVA, V8 30,50030.5k $3.2m $3.2m 0.03% Added +2.3k +2,300
86 Yong Rong (HK) Asset Management Ltd 0.95% of their portfolio SHEUNG WAN, K3 30,00030.0k $3.1m $3.1m 0.95% New
87 Baker Avenue Asset Management, LP 0.07% of their portfolio SAN FRANCISCO, CA 29,93129.9k $3.1m $3.1m 0.07% New
88 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 29,64829.6k $3.1m $3.1m 0.01% Added +14.7k +14,718
89 Hilltop Holdings Inc. 0.18% of their portfolio DALLAS, TX 29,49829.5k $3.1m $3.1m 0.18% Added +2.7k +2,718
90 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 29,39529.4k $3.0m $3.0m 0.00% Reduced -94.7k -94,718
91 Maven Securities LTD 0.39% of their portfolio ST HELIER, Y9 29,24629.2k $3.0m $3.0m 0.39% Reduced -21.6k -21,601
92 Pekin Hardy Strauss, Inc. 0.27% of their portfolio CHICAGO, IL 28,46328.5k $2.9m $2.9m 0.27% Added +2.1k +2,099
93 Royal Fund Management, LLC 0.15% of their portfolio Lady Lake, FL 27,75327.8k $1.7m $1.7m 0.15% New
94 Meridian Wealth Management, LLC 0.10% of their portfolio LEXINGTON, KY 27,50127.5k $2.8m $2.8m 0.10% Reduced -1.2k -1,228
95 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 27,05527.1k $2.8m $2.8m 0.00% Added +11 +11
96 Fifth Third Securities, Inc. 0.18% of their portfolio Cincinnati, OH 26,69626.7k $2.8m $2.8m 0.18% Reduced -6.2k -6,200
97 Synergy Asset Management, LLC 0.29% of their portfolio VANCOUVER, WA 26,50726.5k $2.7m $2.7m 0.29% Added +10.0k +10,031
98 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 26,05726.1k $2.7m $2.7m 0.00% Added +14.6k +14,581
99 PFG Advisors 0.13% of their portfolio Phoenix, AZ 25,93025.9k $2.7m $2.7m 0.13% Reduced -4.6k -4,623
100 Chicago Wealth Management, Inc. 1.07% of their portfolio CHICAGO, IL 25,73925.7k $2.7m $2.7m 1.07% New