Vault-13

SPDR SER TR KCE

S&P CAP MKTS · ETP · CUSIP 78464A771

110 institutional holders -8 vs Q2 2025
3,067,4913.1m shares reported held*
$464.6mreported value*
13 new 42 added 29 reduced 16 sold out net bought ≈ $75.7m (+495.9k 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. Holder counts are more reliable. Implied quarter-end price ≈ $151.45. Options: 1 managers hold calls ($321.0k notional), 0 hold puts (—).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 47Q4 22: 49Q1 23: 48Q2 23: 46Q3 23: 62Q4 23: 83Q1 24: 80Q2 24: 89Q3 24: 106Q4 24: 131Q1 25: 125Q2 25: 118Q3 25: 110110Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 202247
Q4 202249
Q1 202348
Q2 202346
Q3 202362
Q4 202383
Q1 202480
Q2 202489
Q3 2024106
Q4 2024131
Q1 2025125
Q2 2025118
Q3 2025110

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 23: 45 bought or addedQ4 23: 31 cut or sold outQ1 24: 45 bought or addedQ1 24: 42 cut or sold outQ1 24Q2 24: 47 bought or addedQ2 24: 34 cut or sold outQ3 24: 51 bought or addedQ3 24: 40 cut or sold outQ3 24Q4 24: 84 bought or addedQ4 24: 41 cut or sold outQ1 25: 61 bought or addedQ1 25: 58 cut or sold outQ1 25Q2 25: 43 bought or addedQ2 25: 65 cut or sold outQ3 25: 55 bought or addedQ3 25: 45 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20234531
Q1 20244542
Q2 20244734
Q3 20245140
Q4 20248441
Q1 20256158
Q2 20254365
Q3 20255545

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ4 24 calls: $1.3mQ4 24 puts: $440.6kQ4 24P/C 0.33Q1 25 calls: $681.3kQ1 25 puts: $25.2kQ1 25P/C 0.04Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $321.0kQ3 25 puts: $0Q3 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q4 2024$1.3m$440.6k0.33
Q1 2025$681.3k$25.2k0.04
Q2 2025$0$0—
Q3 2025$321.0k$00.00

Biggest buyers

Annex Advisory Services, LLC New +278,560+278.6k
Presper Financial Architects, LLC New +137,840+137.8k
BANK OF AMERICA CORP /DE/ Added +91,907+91.9k
LPL Financial LLC Added +75,412+75.4k
Horizon Wealth Management, LLC New +30,631+30.6k
TWO SIGMA INVESTMENTS, LP New +26,300+26.3k
BNP PARIBAS FINANCIAL MARKETS New +25,000+25.0k
MORGAN STANLEY Added +13,906+13.9k
PNC Financial Services Group, Inc. Added +13,219+13.2k
Accel Wealth Management Added +7,312+7.3k

Biggest sellers

Thrivent Financial for Lutherans Sold out -99,019-99.0k
IMC-Chicago, LLC Sold out -21,878-21.9k
ROYAL BANK OF CANADA Reduced -20,786-20.8k
Fluent Financial, LLC Sold out -20,292-20.3k
GTS SECURITIES LLC Sold out -14,397-14.4k
Royal Fund Management, LLC Reduced -12,665-12.7k
OPPENHEIMER & CO INC Sold out -11,507-11.5k
Fort Point Capital Partners LLC Sold out -9,359-9.4k
JANE STREET GROUP, LLC Sold out -8,609-8.6k
Ferguson Shapiro LLC Sold out -4,855-4.9k

Biggest calls

CITADEL ADVISORS LLC New $321.0k2.1k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 696,270696.3k $106.4m $106.4m 0.01% Added +91.9k +91,907
2 Annex Advisory Services, LLC 0.91% of their portfolio BROOKFIELD, WI 278,560278.6k $42.6m $42.6m 0.91% New
3 MEITAV INVESTMENT HOUSE LTD 0.55% of their portfolio BENE-BERAQ, L3 262,324262.3k $40.1m $40.1m 0.55% Added +9 +9
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 239,897239.9k $36.7m $36.7m 0.00% Added +13.9k +13,906
5 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 207,223207.2k $31.7m $31.7m 0.01% Added +75.4k +75,412
6 Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD 1.42% of their portfolio Tel Aviv, L3 138,163138.2k $21.1m $21.1m 1.42% Unchanged
7 Presper Financial Architects, LLC 12.22% of their portfolio AKRON, OH 137,840137.8k $21.1m $21.1m 12.22% New
8 360 Financial, Inc. 5.20% of their portfolio WAYZATA, MN 105,797105.8k $16.2m $16.2m 5.20% Added +3.2k +3,228
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 104,449104.4k $16.0m $16.0m 0.00% Added +4.6k +4,632
10 GRIMES & Co WEALTH MANAGEMENT, LLC 0.20% of their portfolio WESTBOROUGH, MA 52,30952.3k $8.0m $8.0m 0.20% Reduced -1.5k -1,466
11 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 51,85051.9k $7.9m $7.9m 0.00% Added +381 +381
12 Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD 1.49% of their portfolio Tel Aviv, L3 47,68747.7k $7.3m $7.3m 1.49% Unchanged
13 NOTTINGHAM ADVISORS, INC. 0.90% of their portfolio AMHERST, NY 42,58342.6k $6.5m $6.5m 0.90% Reduced -1.5k -1,535
14 Royal Fund Management, LLC 0.69% of their portfolio Lady Lake, FL 37,15237.2k $5.7m $5.7m 0.69% Reduced -12.7k -12,665
15 Horizon Wealth Management, LLC 0.69% of their portfolio LA GRANGE, IL 30,63130.6k $4.7m $4.7m 0.69% New
16 Baker Avenue Asset Management, LP 0.11% of their portfolio SAN FRANCISCO, CA 29,83829.8k $4.6m $4.6m 0.11% Reduced -21 -21
17 TigerOak Management, L.L.C. 1.36% of their portfolio NASHVILLE, TN 28,58428.6k $4.4m $4.4m 1.36% Added +244 +244
18 Provident Co of the Employees of the Hebrew University LTD 4.21% of their portfolio Jerusalem, L3 27,65127.7k $4.2m $4.2m 4.21% Unchanged
19 Cavalier Investments, LLC 0.92% of their portfolio ALPHARETTA, GA 26,32826.3k $2.3m $2.3m 0.92% Unchanged
20 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 26,30026.3k $4.0m $4.0m 0.01% New
21 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 25,33525.3k $3.9m $3.9m 0.00% Added +2.1k +2,077
22 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 25,00025.0k $3.8m $3.8m 0.00% New
23 Masso Torrence Wealth Management Inc. 1.55% of their portfolio MARLTON, NJ 24,43824.4k $3.7m $3.7m 1.55% Reduced -4 -4
24 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 24,38824.4k $3.7m $3.7m 0.00% Reduced -195 -195
25 VICUS CAPITAL 0.27% of their portfolio STATE COLLEGE, PA 23,44423.4k $3.6m $3.6m 0.27% Reduced -1.6k -1,595
26 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 21,68721.7k $3.3m $3.3m 0.01% Reduced -791 -791
27 Accel Wealth Management 0.92% of their portfolio WAVERLY, IA 20,72020.7k $3.2m $3.2m 0.92% Added +7.3k +7,312
28 Community Bank, N.A. 0.38% of their portfolio DeWitt, NY 20,51520.5k $3.1m $3.1m 0.38% Reduced -123 -123
29 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 20,23020.2k $3.1m $3.1m 0.00% Added +417 +417
30 Westwind Capital 0.06% of their portfolio LAS CRUCES, NM 17,67017.7k $270.0k $270.0k 0.06% Added +769 +769
31 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 16,22316.2k $2.5m $2.5m 0.00% Added +13.2k +13,219
32 Mariner, LLC 0.00% of their portfolio Overland Park, KS 15,77015.8k $2.4m $2.4m 0.00% Reduced -1.4k -1,357
33 Merit Financial Group, LLC 0.02% of their portfolio ALPHARETTA, GA 15,47915.5k $2.4m $2.4m 0.02% Reduced -957 -957
34 Aspen Wealth Strategies, LLC 1.21% of their portfolio ARVADA, CO 14,10714.1k $2.2m $2.2m 1.21% Added +81 +81
35 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 13,45413.5k $2.1m $2.1m 0.00% Added +4.6k +4,648
36 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 13,04313.0k $2.0m $2.0m 0.00% Added +1.2k +1,219
37 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 11,99112.0k $1.8m $1.8m 0.00% Added +6.4k +6,398
38 WESPAC Advisors SoCal, LLC 0.36% of their portfolio Pasadena, CA 11,73811.7k $1.8m $1.8m 0.36% Reduced -172 -172
39 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 9,9399.9k $1.5m $1.5m 0.00% Added +2.2k +2,208
40 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 9,9279.9k $1.5m $1.5m 0.00% Reduced -2.8k -2,838
41 Csenge Advisory Group 0.07% of their portfolio CLEARWATER, FL 9,8439.8k $1.5m $1.5m 0.07% Added +60 +60
42 MONEY CONCEPTS CAPITAL CORP 0.09% of their portfolio PALM BEACH GARDENS, FL 9,7889.8k $1.5m $1.5m 0.09% Added +367 +367
43 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 7,8767.9k $1.2m $1.2m 0.01% Added +694 +694
44 Global Financial Private Client, LLC 0.43% of their portfolio Sarasota, FL 7,8097.8k $1.2m $1.2m 0.43% Reduced -317 -317
45 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 7,4517.5k $1.1m $1.1m 0.00% Added +130 +130
46 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 7,0947.1k $993.8k $993.8k 0.00% Added +3.4k +3,446
47 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 6,4896.5k $992.0k $992.0k 0.00% Added +835 +835
48 Gladstone Institutional Advisory LLC 0.03% of their portfolio Bedminster, NJ 5,7725.8k $882.3k $882.3k 0.03% Reduced -125 -125
49 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 5,5155.5k $843.0k $843.0k 0.00% Added +1.3k +1,312
50 STEPHENS INC /AR/ 0.01% of their portfolio LITTLE ROCK, AR 5,5005.5k $840.7k $840.7k 0.01% Reduced -38 -38
51 Arkadios Wealth Advisors 0.02% of their portfolio ATLANTA, GA 5,3055.3k $810.9k $810.9k 0.02% Added +190 +190
52 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 4,6984.7k $718.0k $718.0k 0.00% Added +1.1k +1,141
53 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 4,6394.6k $709.0k $709.0k 0.00% Reduced -285 -285
54 LEUTHOLD GROUP, LLC 0.07% of their portfolio MINNEAPOLIS, MN 4,2434.2k $648.5k $648.5k 0.07% Reduced -159 -159
55 Quantum Portfolio Management LLC 0.16% of their portfolio NEW YORK, NY 3,4483.4k $527.0k $527.0k 0.16% Added +1.4k +1,432
56 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 3,3113.3k $506.1k $506.1k 0.00% Unchanged
57 HBW ADVISORY SERVICES LLC 0.05% of their portfolio SIMI VALLEY, CA 3,1773.2k $485.6k $485.6k 0.05% Reduced -12 -12
58 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 2,8182.8k $430.7k $430.7k 0.00% Reduced -14 -14
59 Headland Capital, LLC 0.11% of their portfolio MT. PLEASANT, SC 2,5802.6k $394.3k $394.3k 0.11% Reduced -36 -36
60 HF Advisory Group, LLC 0.14% of their portfolio Annapolis, MD 2,4712.5k $377.7k $377.7k 0.14% Reduced -235 -235
61 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 2,1702.2k $331.7k $331.7k 0.00% Added +71 +71
62 Delta Investment Management, LLC 0.06% of their portfolio SAN FRANCISCO, CA 2,0572.1k $314.5k $314.5k 0.06% Added +5 +5
63 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,9461.9k $298.0k $298.0k 0.00% Reduced -20.8k -20,786
64 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,8821.9k $287.7k $287.7k 0.00% Added +178 +178
65 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 1,7581.8k $268.8k $268.8k 0.00% Added +4 +4
66 FORTRESS PRIVATE LEDGER, LLC 0.09% of their portfolio RALEIGH, NC 1,6651.7k $254.5k $254.5k 0.09% New
67 Stratos Wealth Advisors, LLC 0.01% of their portfolio BEACHWOOD, OH 1,6531.7k $252.7k $252.7k 0.01% New
68 Kaizen Financial Strategies 0.10% of their portfolio CAMPBELL, CA 1,5401.5k $223.3k $223.3k 0.10% New
69 MGB Wealth Management, LLC 0.06% of their portfolio ADDISON, TX 1,4971.5k $228.8k $228.8k 0.06% Added +400 +400
70 FMR LLC 0.00% of their portfolio BOSTON, MA 1,4821.5k $226.5k $226.5k 0.00% Reduced -34 -34
71 Tidemark, LLC 0.07% of their portfolio SAN DIEGO, CA 1,4641.5k $223.8k $223.8k 0.07% Reduced -57 -57
72 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 1,4451.4k $220.9k $220.9k 0.00% Added +45 +45
73 WMG Financial Advisors, LLC 0.07% of their portfolio Knoxville, TN 1,3621.4k $208.2k $208.2k 0.07% New
74 BAROMETER CAPITAL MANAGEMENT INC. 0.03% of their portfolio TORONTO, A6 1,0001.0k $152.8k $152.8k 0.03% Added +100 +100
75 PRIVATE TRUST CO NA 0.01% of their portfolio CLEVELAND, OH 861861 $131.6k $131.6k 0.01% Added +11 +11
76 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 844844 $129.0k $129.0k 0.00% New
77 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 743743 $113.6k $113.6k 0.00% Reduced -26 -26
78 MONTAG A & ASSOCIATES INC 0.01% of their portfolio ATLANTA, GA 740740 $113.1k $113.1k 0.01% New
79 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 615615 $94.0k $94.0k 0.00% Unchanged
80 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 587587 $89.7k $89.7k 0.00% Added +238 +238
81 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 574574 $87.7k $87.7k 0.00% Added +2 +2
82 BROWN BROTHERS HARRIMAN & CO 0.00% of their portfolio NEW YORK, NY 488488 $74.6k $74.6k 0.00% Unchanged
83 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 336336 $51.4k $51.4k 0.00% Reduced -22 -22
84 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 327327 $50.0k $50.0k 0.00% Reduced -72 -72
85 COMERICA BANK 0.00% of their portfolio DALLAS, TX 250250 $38.2k $38.2k 0.00% Unchanged
86 Provenance Wealth Advisors, LLC 0.00% of their portfolio FORT LAUDERDALE, FL 225225 $34.4k $34.4k 0.00% Unchanged
87 PRINCIPAL SECURITIES, INC. 0.00% of their portfolio DES MOINES, IA 210210 $32.1k $32.1k 0.00% Unchanged
88 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 190190 $29.0k $29.0k 0.00% Added +139 +139
89 MCF Advisors LLC 0.00% of their portfolio LEXINGTON, KY 174174 $26.6k $26.6k 0.00% Added +1 +1
90 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 159159 $24.3k $24.3k 0.00% New
91 Main Street Group, LTD 0.01% of their portfolio GLEN ALLEN, VA 145145 $22.2k $22.2k 0.01% Unchanged
92 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 112112 $17.1k $17.1k 0.00% Unchanged
93 Orion Capital Management LLC 0.00% of their portfolio CORONADO, CA 9292 $14.1k $14.1k 0.00% Added +16 +16
94 Asset Dedication, LLC 0.00% of their portfolio SAN FRANCISCO, CA 8585 $13.0k $13.0k 0.00% Unchanged
95 Legacy Wealth Managment, LLC/ID 0.01% of their portfolio BOISE, ID 7777 $11.8k $11.8k 0.01% Unchanged
96 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio Stamford, CT 5757 $8.7k $8.7k 0.00% Added +29 +29
97 Sunbelt Securities, Inc. 0.00% of their portfolio HOUSTON, TX 5353 $8.1k $8.1k 0.00% Unchanged
98 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 4848 $7.4k $7.4k 0.00% Reduced -126 -126
99 CITY HOLDING CO 0.00% of their portfolio CHARLESTON, WV 4545 $6.9k $6.9k 0.00% Unchanged
100 Colonial Trust Co / SC 0.00% of their portfolio SPARTANBURG, SC 4141 $6.3k $6.3k 0.00% Unchanged