Vault-13

SPDR SERIES TRUST SPMD

PORTFOLIO S&P400 · ETP · CUSIP 78464A847

734 institutional holders +8 vs Q2 2025
222,022,065222.0m shares reported held*
$12.7bnreported value*
69 new 341 added 210 reduced 47 sold out net bought ≈ $472.9m (+8.3m 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 ($17.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $57.18.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 381Q4 22: 427Q1 23: 434Q2 23: 462Q3 23: 485Q4 23: 550Q1 24: 567Q2 24: 593Q3 24: 624Q4 24: 684Q1 25: 680Q2 25: 726Q3 25: 734734Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022381
Q4 2022427
Q1 2023434
Q2 2023462
Q3 2023485
Q4 2023550
Q1 2024567
Q2 2024593
Q3 2024624
Q4 2024684
Q1 2025680
Q2 2025726
Q3 2025734

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q4 23: 288 bought or addedQ4 23: 187 cut or sold outQ1 24: 288 bought or addedQ1 24: 230 cut or sold outQ1 24Q2 24: 313 bought or addedQ2 24: 220 cut or sold outQ3 24: 346 bought or addedQ3 24: 214 cut or sold outQ3 24Q4 24: 356 bought or addedQ4 24: 234 cut or sold outQ1 25: 385 bought or addedQ1 25: 269 cut or sold outQ1 25Q2 25: 383 bought or addedQ2 25: 280 cut or sold outQ3 25: 410 bought or addedQ3 25: 257 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023288187
Q1 2024288230
Q2 2024313220
Q3 2024346214
Q4 2024356234
Q1 2025385269
Q2 2025383280
Q3 2025410257

Calls vs puts

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

CallsPuts
$0$200k$400k$600k$800kQ4 24 calls: $114.8kQ4 24 puts: $0Q4 24P/C 0.00Q1 25 calls: $721.6kQ1 25 puts: $35.8kQ1 25P/C 0.05Q2 25 calls: $609.1kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$114.8k$00.00
Q1 2025$721.6k$35.8k0.05
Q2 2025$609.1k$00.00
Q3 2025$0$0—

Biggest buyers

Creative Planning Added +4,903,905+4.9m
Betterment LLC Added +970,630+970.6k
RETIREMENT FINANCIAL SOLUTIONS, LLC New +653,611+653.6k
VICUS CAPITAL Added +627,005+627.0k
Composition Wealth, LLC New +533,768+533.8k
ENVESTNET ASSET MANAGEMENT INC Added +471,708+471.7k
MASON STREET ADVISORS, LLC Added +434,600+434.6k
Mach-1 Financial Group, LLC New +406,116+406.1k
BANK OF AMERICA CORP /DE/ Added +354,307+354.3k
BNP PARIBAS FINANCIAL MARKETS Added +350,938+350.9k

Biggest sellers

Hancock Prospecting Pty Ltd Reduced -1,464,720-1.5m
Atlas Private Wealth Advisors Reduced -897,408-897.4k
ROYAL BANK OF CANADA Reduced -753,636-753.6k
Thrivent Financial for Lutherans Reduced -612,241-612.2k
AlTi Global, Inc. Reduced -586,063-586.1k
Farther Finance Advisors, LLC Reduced -385,262-385.3k
Rockefeller Capital Management L.P. Reduced -279,605-279.6k
AMERIPRISE FINANCIAL INC Reduced -219,126-219.1k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -198,801-198.8k
RFG Advisory, LLC Reduced -168,011-168.0k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Creative Planning 3.84% of their portfolio OVERLAND PARK, KS 87,966,06288.0m $5.0bn $5.0bn 3.84% Added +4.9m +4,903,905
2 Betterment LLC 2.27% of their portfolio NEW YORK, NY 20,126,27720.1m $1.2bn $1.2bn 2.27% Added +970.6k +970,630
3 LPL Financial LLC 0.21% of their portfolio FORT MILL, SC 12,670,56112.7m $724.6m $724.6m 0.21% Added +3.2k +3,184
4 Valmark Advisers, Inc. 5.06% of their portfolio AKRON, OH 6,837,0856.8m $391.0m $391.0m 5.06% Added +193.2k +193,168
5 CWM, LLC 0.81% of their portfolio OMAHA, NE 4,728,4844.7m $270.4m $270.4m 0.81% Added +33.6k +33,612
6 HighTower Advisors, LLC 0.22% of their portfolio CHICAGO, IL 3,332,0463.3m $190.6m $190.6m 0.22% Added +125.7k +125,678
7 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,189,9623.2m $182.4m $182.4m 0.01% Added +211.3k +211,346
8 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 3,169,7513.2m $181.3m $181.3m 0.05% Added +471.7k +471,708
9 AlTi Global, Inc. 4.18% of their portfolio NEW YORK, NY 3,116,0503.1m $178.2m $178.2m 4.18% Reduced -586.1k -586,063
10 TEXAS PERMANENT SCHOOL FUND CORP 5.56% of their portfolio AUSTIN, TX 2,982,0433.0m $170.5m $170.5m 5.56% Unchanged
11 Facet Wealth, Inc. 3.44% of their portfolio WEST PALM BEACH, FL 2,910,4762.9m $166.5m $166.5m 3.44% Added +184.4k +184,356
12 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,225,5282.2m $127.3m $127.3m 0.01% Added +354.3k +354,307
13 EXCHANGE TRADED CONCEPTS, LLC 1.03% of their portfolio Oklahoma City, OK 1,881,2101.9m $107.6m $107.6m 1.03% Added +150.2k +150,152
14 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 1,612,6021.6m $92.2m $92.2m 0.06% Added +62.8k +62,798
15 OSAIC HOLDINGS, INC. 0.12% of their portfolio SCOTTSDALE, AZ 1,539,6811.5m $88.0m $88.0m 0.12% Added +96.1k +96,127
16 UBS Group AG 0.02% of their portfolio ZURICH, V8 1,433,3581.4m $82.0m $82.0m 0.02% Reduced -1.5k -1,539
17 Hancock Prospecting Pty Ltd 2.63% of their portfolio West Perth, C3 1,410,4701.4m $80.7m $80.7m 2.63% Reduced -1.5m -1,464,720
18 MASON STREET ADVISORS, LLC 8.07% of their portfolio MILWAUKEE, WI 1,362,2001.4m $77.9m $77.9m 8.07% Added +434.6k +434,600
19 First Command Advisory Services, Inc. 0.54% of their portfolio FORT WORTH, TX 1,312,0251.3m $75.0m $75.0m 0.54% Added +172.6k +172,595
20 Hills Bank & Trust Co 4.22% of their portfolio North Liberty, IA 1,255,1321.3m $71.8m $71.8m 4.22% Added +59.9k +59,881
21 Cornerstone Wealth Management, LLC 3.47% of their portfolio ST. PETERS, MO 1,097,0291.1m $62.7m $62.7m 3.47% Added +24.3k +24,253
22 Wealthcare Advisory Partners LLC 1.27% of their portfolio WEST CHESTER, PA 1,063,3361.1m $60.8m $60.8m 1.27% Added +31.3k +31,342
23 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.44% of their portfolio IRVING, TX 1,060,7081.1m $60.7m $60.7m 0.44% Added +244.4k +244,384
24 Auto-Owners Insurance Co 1.54% of their portfolio LANSING, MI 1,040,0001.0m $59.5m $59.5m 1.54% Unchanged
25 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 908,047908.0k $51.9m $51.9m 0.01% Added +4.9k +4,904
26 Private Advisor Group, LLC 0.25% of their portfolio MORRISTOWN, NJ 902,116902.1k $51.6m $51.6m 0.25% Added +5.4k +5,401
27 Koss-Olinger Consulting, LLC 3.90% of their portfolio GAINESVILLE, FL 867,326867.3k $47.2m $47.2m 3.90% Reduced -7.3k -7,339
28 JNBA Financial Advisors 4.47% of their portfolio BLOOMINGTON, MN 860,987861.0k $49.2m $49.2m 4.47% Added +33.8k +33,755
29 HHM Wealth Advisors, LLC 5.35% of their portfolio CHATTANOOGA, TN 808,880808.9k $46.3m $46.3m 5.35% Reduced -52.0k -51,972
30 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 783,980784.0k $44.8m $44.8m 0.01% Added +146.3k +146,343
31 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 766,126766.1k $43.8m $43.8m 0.01% Reduced -753.6k -753,636
32 AlphaStar Capital Management, LLC 3.64% of their portfolio CORNELIUS, NC 738,027738.0k $42.2m $42.2m 3.64% Added +17.6k +17,553
33 Peterson Wealth Advisors, LLC 6.27% of their portfolio Orem, UT 733,679733.7k $41.9m $41.9m 6.27% Added +37.0k +36,950
34 1900 WEALTH MANAGEMENT LLC 2.68% of their portfolio SAN ANTONIO, TX 691,808691.8k $39.6m $39.6m 2.68% Added +65.0k +65,046
35 WALLER FINANCIAL PLANNING GROUP, INC 8.92% of their portfolio COLUMBUS, OH 679,846679.8k $38.9m $38.9m 8.92% Added +11.6k +11,554
36 BLAIR WILLIAM & CO/IL 0.10% of their portfolio CHICAGO, IL 676,940676.9k $38.7m $38.7m 0.10% Reduced -5.0k -4,971
37 GREAT VALLEY ADVISOR GROUP, INC. 0.75% of their portfolio WILMINGTON, DE 655,367655.4k $37.5m $37.5m 0.75% Added +17.0k +16,975
38 RETIREMENT FINANCIAL SOLUTIONS, LLC 7.74% of their portfolio KNOXVILLE, TN 653,611653.6k $37.4m $37.4m 7.74% New
39 VICUS CAPITAL 2.81% of their portfolio STATE COLLEGE, PA 642,672642.7k $36.8m $36.8m 2.81% Added +627.0k +627,005
40 RETIREMENT INCOME SOLUTIONS, INC 6.04% of their portfolio ANN ARBOR, MI 618,083618.1k $35.3m $35.3m 6.04% Added +14.2k +14,168
41 RKL Wealth Management LLC 2.90% of their portfolio LANCASTER, PA 594,975595.0k $34.0m $34.0m 2.90% Added +40.4k +40,432
42 Farther Finance Advisors, LLC 0.51% of their portfolio SAN FRANCISCO, CA 585,859585.9k $33.5m $33.5m 0.51% Reduced -385.3k -385,262
43 Impact Partnership Wealth, LLC 4.91% of their portfolio MARIETTA, GA 577,911577.9k $33.1m $33.1m 4.91% Added +87.5k +87,463
44 BOKF, NA 0.48% of their portfolio TULSA, OK 558,431558.4k $31.9m $31.9m 0.48% Reduced -6.3k -6,346
45 Composition Wealth, LLC 0.46% of their portfolio LOS ANGELES, CA 533,768533.8k $30.5m $30.5m 0.46% New
46 Atlas Private Wealth Advisors 7.36% of their portfolio RED BANK, NJ 525,712525.7k $30.1m $30.1m 7.36% Reduced -897.4k -897,408
47 Equitable Holdings, Inc. 0.20% of their portfolio NEW YORK, NY 483,731483.7k $27.7m $27.7m 0.20% Reduced -31.7k -31,692
48 Global Retirement Partners, LLC 0.61% of their portfolio San Rafael, CA 477,131477.1k $27.3m $27.3m 0.61% Added +2.7k +2,745
49 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.04% of their portfolio PLYMOUTH, MN 474,863474.9k $27.1m $27.1m 0.04% Reduced -198.8k -198,801
50 MML INVESTORS SERVICES, LLC 0.07% of their portfolio SPRINGFIELD, MA 458,861458.9k $26.2m $26.2m 0.07% Reduced -1.8k -1,766
51 Corient Private Wealth LP 0.04% of their portfolio MIAMI, FL 452,918452.9k $25.9m $25.9m 0.04% Added +29.5k +29,466
52 Gerber Kawasaki Wealth & Investment Management 0.87% of their portfolio SANTA MONICA, CA 443,919443.9k $25.4m $25.4m 0.87% Added +23.5k +23,454
53 OARSMAN CAPITAL, INC. 3.52% of their portfolio MILWAUKEE, WI 438,325438.3k $25.1m $25.1m 3.52% Added +233.9k +233,876
54 CAHABA WEALTH MANAGEMENT, INC. 1.81% of their portfolio Atlanta, GA 437,504437.5k $25.0m $25.0m 1.81% Added +3.9k +3,859
55 Dakota Wealth Management 0.50% of their portfolio PALM BEACH GARDENS, FL 431,190431.2k $24.7m $24.7m 0.50% Added +83.5k +83,464
56 ASSETMARK, INC 0.05% of their portfolio CONCORD, CA 430,417430.4k $24.6m $24.6m 0.05% Reduced -12.1k -12,069
57 ST GERMAIN D J CO INC 0.98% of their portfolio SPRINGFIELD, MA 427,884427.9k $24.5m $24.5m 0.98% Added +31.4k +31,430
58 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 421,749421.7k $24.1m $24.1m 0.01% Added +161.5k +161,521
59 Envestnet Portfolio Solutions, Inc. 0.09% of their portfolio BERWYN, PA 413,728413.7k $23.7m $23.7m 0.09% Added +15.5k +15,485
60 RFG Advisory, LLC 0.48% of their portfolio BIRMINGHAM, AL 408,146408.1k $23.3m $23.3m 0.48% Reduced -168.0k -168,011
61 Mach-1 Financial Group, LLC 3.71% of their portfolio Rogers, AR 406,116406.1k $23.2m $23.2m 3.71% New
62 Integrity Advisory Solutions, LLC 3.71% of their portfolio DALLAS, TX 406,116406.1k $23.2m $23.2m 3.71% First filing
63 Financial Strategies Group, Inc. 4.28% of their portfolio OKEMOS, MI 395,070395.1k $22.5m $22.5m 4.28% Added +10.9k +10,918
64 OneAscent Financial Services LLC 1.49% of their portfolio BIRMINGHAM, AL 390,903390.9k $22.4m $22.4m 1.49% Reduced -43.5k -43,453
65 Savant Capital, LLC 0.13% of their portfolio ROCKFORD, IL 385,751385.8k $22.1m $22.1m 0.13% Reduced -73.8k -73,807
66 First National Trust Co 0.75% of their portfolio Johnstown, PA 384,664384.7k $22.0m $22.0m 0.75% Added +20.6k +20,563
67 RESTON WEALTH MANAGEMENT LLC 6.98% of their portfolio Reston, VA 378,032378.0k $21.6m $21.6m 6.98% Added +116 +116
68 Crews Bank & Trust 3.13% of their portfolio PORT CHARLOTTE, FL 374,141374.1k $21.4m $21.4m 3.13% Reduced -25.0k -24,972
69 Waverly Advisors, LLC 0.20% of their portfolio BIRMINGHAM, AL 356,640356.6k $20.4m $20.4m 0.20% Added +2.1k +2,098
70 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 350,969351.0k $20.1m $20.1m 0.02% Added +350.9k +350,938
71 Penserra Capital Management LLC 0.23% of their portfolio ORINDA, CA 337,092337.1k $19.3m $19.3m 0.23% Added +35.3k +35,267
72 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 334,828334.8k $19.1m $19.1m 0.00% Added +191.9k +191,917
73 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 326,538326.5k $18.7m $18.7m 0.02% Added +37.5k +37,482
74 Sanctuary Advisors, LLC 0.05% of their portfolio INDIANAPOLIS, IN 323,623323.6k $17.6m $17.6m 0.05% Added +150.7k +150,708
75 Ellenbecker Investment Group 2.69% of their portfolio WAUKESHA, WI 319,006319.0k $18.2m $18.2m 2.69% Added +24.1k +24,143
76 Abich Financial Wealth Management LLC 6.42% of their portfolio ASHBURN, VA 315,310315.3k $18.0m $18.0m 6.42% First filing
77 Summit Trail Advisors, LLC 0.24% of their portfolio NEW YORK, NY 299,577299.6k $17.1m $17.1m 0.24% Reduced -9.9k -9,888
78 Mariner, LLC 0.02% of their portfolio Overland Park, KS 296,302296.3k $16.9m $16.9m 0.02% Reduced -9.3k -9,344
79 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 292,307292.3k $16.7m $16.7m 0.03% Reduced -279.6k -279,605
80 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 290,768290.8k $16.6m $16.6m 0.00% Reduced -219.1k -219,126
81 Shepherd Financial Partners LLC 1.57% of their portfolio WINCHESTER, MA 288,393288.4k $16.5m $16.5m 1.57% Added +6.5k +6,536
82 Geneos Wealth Management Inc. 0.42% of their portfolio ENGLEWOOD, CO 287,984288.0k $16.5m $16.5m 0.42% Added +7.5k +7,540
83 EVERMAY WEALTH MANAGEMENT LLC 1.88% of their portfolio ARLINGTON, VA 287,385287.4k $16.4m $16.4m 1.88% Added +18.2k +18,153
84 New Perspectives, Inc 7.09% of their portfolio TOUGALOO, MS 276,816276.8k $15.8m $15.8m 7.09% Added +4.3k +4,289
85 Financial Gravity Asset Management, Inc. 3.07% of their portfolio Lakeway, TX 272,173272.2k $15.6m $15.6m 3.07% First filing
86 COLDSTREAM CAPITAL MANAGEMENT INC 0.21% of their portfolio BELLEVUE, WA 267,898267.9k $15.3m $15.3m 0.21% Added +8.7k +8,672
87 NORTH STAR ASSET MANAGEMENT INC 0.62% of their portfolio NEENAH, WI 265,978266.0k $15.2m $15.2m 0.62% Added +1.6k +1,556
88 Alta Wealth Advisors LLC 5.35% of their portfolio Woburn, MA 260,986261.0k $14.9m $14.9m 5.35% Added +29.3k +29,262
89 Allworth Financial LP 0.07% of their portfolio FOLSOM, CA 257,632257.6k $14.7m $14.7m 0.07% Added +24.6k +24,553
90 Avior Wealth Management, LLC 0.46% of their portfolio OMAHA, NE 248,611248.6k $14.2m $14.2m 0.46% Added +25.9k +25,936
91 Lido Advisors, LLC 0.05% of their portfolio Los Angeles, CA 234,476234.5k $13.4m $13.4m 0.05% Added +230.6k +230,648
92 CITIZENS & NORTHERN CORP 3.29% of their portfolio WELLSBORO, PA 232,382232.4k $13.3m $13.3m 3.29% Added +176 +176
93 FIFTH THIRD BANCORP 0.04% of their portfolio CINCINNATI, OH 230,892230.9k $13.2m $13.2m 0.04% Added +6.2k +6,198
94 Montz Harcus Wealth Management LLC 5.74% of their portfolio New Orleans, LA 229,796229.8k $13.1m $13.1m 5.74% Added +5.6k +5,608
95 Advance Capital Management, Inc. 0.56% of their portfolio SOUTHFIELD, MI 226,160226.2k $12.9m $12.9m 0.56% Added +9.0k +9,046
96 Cascade Financial Partners, LLC 1.48% of their portfolio SAN DIEGO, CA 225,055225.1k $12.9m $12.9m 1.48% Reduced -1.2k -1,181
97 Marathon Strategic Advisors, LLC 10.21% of their portfolio PITTSBURGH, PA 222,953223.0k $12.8m $12.8m 10.21% Added +29.4k +29,408
98 Gladstone Institutional Advisory LLC 0.48% of their portfolio Bedminster, NJ 216,835216.8k $12.4m $12.4m 0.48% Added +14.8k +14,779
99 IAG Wealth Partners, LLC 1.47% of their portfolio WAUKESHA, WI 213,763213.8k $12.2m $12.2m 1.47% Added +8.7k +8,674
100 Bensler, LLC 1.25% of their portfolio Bellevue, WA 210,796210.8k $12.1m $12.1m 1.25% Added +10.0k +10,026