Vault-13

SPDR SER TR XSD

S&P SEMICNDCTR · ETP · CUSIP 78464A862

229 institutional holders +8 vs Q2 2025
1,867,0591.9m shares reported held*
$591.4mreported value*
38 new 47 added 73 reduced 27 sold out net sold ≈ $75.4m (-223.3k 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 ≈ $316.74. Options: 5 managers hold calls ($21.8m notional), 5 hold puts ($6.0m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 165Q4 22: 179Q1 23: 209Q2 23: 216Q3 23: 220Q4 23: 229Q1 24: 223Q2 24: 220Q3 24: 206Q4 24: 228Q1 25: 204Q2 25: 221Q3 25: 229229Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022165
Q4 2022179
Q1 2023209
Q2 2023216
Q3 2023220
Q4 2023229
Q1 2024223
Q2 2024220
Q3 2024206
Q4 2024228
Q1 2025204
Q2 2025221
Q3 2025229

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 92 bought or addedQ4 23: 90 cut or sold outQ1 24: 92 bought or addedQ1 24: 112 cut or sold outQ1 24Q2 24: 90 bought or addedQ2 24: 91 cut or sold outQ3 24: 71 bought or addedQ3 24: 102 cut or sold outQ3 24Q4 24: 82 bought or addedQ4 24: 87 cut or sold outQ1 25: 73 bought or addedQ1 25: 112 cut or sold outQ1 25Q2 25: 91 bought or addedQ2 25: 87 cut or sold outQ3 25: 85 bought or addedQ3 25: 100 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20239290
Q1 202492112
Q2 20249091
Q3 202471102
Q4 20248287
Q1 202573112
Q2 20259187
Q3 202585100

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ4 24 calls: $10.1mQ4 24 puts: $7.1mQ4 24P/C 0.70Q1 25 calls: $7.5mQ1 25 puts: $3.9mQ1 25P/C 0.52Q2 25 calls: $20.9mQ2 25 puts: $4.5mQ2 25P/C 0.21Q3 25 calls: $21.8mQ3 25 puts: $6.0mQ3 25P/C 0.28
Numbers
QuarterCallsPutsP/C
Q4 2024$10.1m$7.1m0.70
Q1 2025$7.5m$3.9m0.52
Q2 2025$20.9m$4.5m0.21
Q3 2025$21.8m$6.0m0.28

Biggest buyers

LPL Financial LLC Added +17,398+17.4k
GOLDMAN SACHS GROUP INC Added +14,467+14.5k
Constant Guidance Financial LLC New +13,135+13.1k
VICUS CAPITAL Added +11,250+11.2k
PNC Financial Services Group, Inc. Added +10,253+10.3k
JANE STREET GROUP, LLC Added +6,992+7.0k
Sanctuary Advisors, LLC Added +5,499+5.5k
Janney Montgomery Scott LLC Added +5,221+5.2k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +4,984+5.0k
Cerity Partners LLC New +4,247+4.2k

Biggest sellers

Kingsview Wealth Management, LLC Reduced -41,934-41.9k
CoreCap Advisors, LLC Reduced -39,318-39.3k
ROYAL BANK OF CANADA Reduced -39,030-39.0k
MILLENNIUM MANAGEMENT LLC Sold out -37,987-38.0k
BNP PARIBAS FINANCIAL MARKETS Reduced -25,222-25.2k
Cetera Investment Advisers Reduced -19,151-19.2k
CITADEL ADVISORS LLC Reduced -13,060-13.1k
AMERIPRISE FINANCIAL INC Reduced -12,746-12.7k
ENVESTNET ASSET MANAGEMENT INC Reduced -12,054-12.1k
Tower Research Capital LLC (TRC) Reduced -12,010-12.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $16.9m53.0k shares
CITADEL ADVISORS LLC Added $3.0m9.4k shares
JANE STREET GROUP, LLC New $925.4k2.9k shares
WOLVERINE TRADING, LLC New $790.1k2.5k shares
Belvedere Trading LLC Reduced $191.5k600 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.9m12.2k shares
CITADEL ADVISORS LLC Reduced $1.1m3.4k shares
JANE STREET GROUP, LLC New $702.1k2.2k shares
WOLVERINE TRADING, LLC New $252.8k800 shares
Belvedere Trading LLC Added $95.7k300 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 244,033244.0k $77.9m $77.9m 0.00% Reduced -2.8k -2,835
2 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 232,426232.4k $74.2m $74.2m 0.02% Added +17.4k +17,398
3 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 85,39185.4k $27.2m $27.2m 0.00% Reduced -1.2k -1,232
4 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 80,96581.0k $25.8m $25.8m 0.01% Added +3.8k +3,806
5 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 77,59077.6k $24.8m $24.8m 0.02% Added +10.3k +10,253
6 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 67,05367.1k $21.4m $21.4m 0.00% Reduced -12.7k -12,746
7 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 64,80364.8k $20.7m $20.7m 0.00% Added +14.5k +14,467
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 52,38452.4k $16.7m $16.7m 0.00% Reduced -10.2k -10,228
9 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 50,37550.4k $16.1m $16.1m 0.01% Reduced -25.2k -25,222
10 McGuire Investment Group, LLC 1.51% of their portfolio WAKEFIELD, RI 41,68941.7k $13.3m $13.3m 1.51% Reduced -216 -216
11 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 40,53940.5k $12.9m $12.9m 0.00% Reduced -2.3k -2,271
12 Hobart Private Capital, LLC 2.34% of their portfolio CHARLOTTE, NC 35,09335.1k $11.2m $11.2m 2.34% Reduced -3.5k -3,523
13 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 33,61533.6k $10.0m $10.0m 0.01% Reduced -185 -185
14 MGB Wealth Management, LLC 2.85% of their portfolio ADDISON, TX 31,57431.6k $10.1m $10.1m 2.85% Reduced -468 -468
15 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 29,78829.8k $9.5m $9.5m 0.01% Reduced -19.2k -19,151
16 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 29,47029.5k $9.4m $9.4m 0.00% Reduced -39.0k -39,030
17 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 28,90028.9k $9.2m $9.2m 0.02% Added +78 +78
18 First Interstate Bank 0.51% of their portfolio Billings, MT 28,78428.8k $9.2m $9.2m 0.51% Reduced -379 -379
19 CacheTech Inc. 1.69% of their portfolio LOGAN, UT 26,17426.2k $8.4m $8.4m 1.69% Reduced -7.8k -7,772
20 Adams Wealth Management 1.75% of their portfolio LOGAN, UT 25,54425.5k $8.2m $8.2m 1.75% Reduced -8.4k -8,402
21 CoreCap Advisors, LLC 0.30% of their portfolio SOUTHFIELD, MI 25,50525.5k $8.1m $8.1m 0.30% Reduced -39.3k -39,318
22 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 24,54224.5k $7.8m $7.8m 0.02% Added +5.2k +5,221
23 JMAC ENTERPRISES LLC 1.53% of their portfolio NEWTOWN, PA 24,31124.3k $7.8m $7.8m 1.53% Added +519 +519
24 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 22,47922.5k $7.2m $7.2m 0.00% Reduced -12.1k -12,054
25 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 20,77720.8k $6.6m $6.6m 0.01% Reduced -4.1k -4,117
26 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 18,75818.8k $6.0m $6.0m 0.01% Reduced -1.2k -1,178
27 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 16,96817.0k $5.4m $5.4m 0.01% Added +5.0k +4,984
28 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 14,51714.5k $4.6m $4.6m 0.01% Reduced -94 -94
29 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 14,43614.4k $4.6m $4.6m 0.01% Reduced -571 -571
30 Constant Guidance Financial LLC 0.58% of their portfolio ATTLEBORO FALLS, MA 13,13513.1k $720.5k $720.5k 0.58% New
31 VICUS CAPITAL 0.30% of their portfolio STATE COLLEGE, PA 12,14712.1k $3.9m $3.9m 0.30% Added +11.2k +11,250
32 MONEY CONCEPTS CAPITAL CORP 0.23% of their portfolio PALM BEACH GARDENS, FL 11,65711.7k $3.7m $3.7m 0.23% Reduced -439 -439
33 Beaumont Asset Management, L.L.C. 1.82% of their portfolio BEAUMONT, TX 11,33711.3k $3.6m $3.6m 1.82% Reduced -226 -226
34 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 11,05111.1k $2.8m $2.8m 0.01% Added +5.5k +5,499
35 Yarbrough Capital, LLC 0.10% of their portfolio FRANKLIN, TN 10,49810.5k $3.4m $3.4m 0.10% Unchanged
36 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 10,34810.3k $3.3m $3.3m 0.00% Reduced -1.8k -1,798
37 Dale Q Rice Investment Management Ltd 2.31% of their portfolio VANCOUVER, WA 9,6629.7k $3.3m $3.3m 2.31% Reduced -970 -970
38 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 8,6768.7k $2.8m $2.8m 0.00% Added +222 +222
39 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 8,1778.2k $2.6m $2.6m 0.00% Added +7.0k +6,992
40 HARBOR ADVISORY CORP /MA/ 0.71% of their portfolio PORTSMOUTH, NH 7,5487.5k $2.4m $2.4m 0.71% Reduced -8 -8
41 Mariner, LLC 0.00% of their portfolio Overland Park, KS 7,2497.2k $2.3m $2.3m 0.00% Reduced -974 -974
42 GRIMES & Co WEALTH MANAGEMENT, LLC 0.05% of their portfolio WESTBOROUGH, MA 6,6076.6k $2.1m $2.1m 0.05% Reduced -329 -329
43 Kingsview Wealth Management, LLC 0.03% of their portfolio GRANTS PASS, OR 5,6845.7k $1.8m $1.8m 0.03% Reduced -41.9k -41,934
44 BlackRock, Inc. 0.00% of their portfolio New York, NY 5,6235.6k $1.8m $1.8m 0.00% Reduced -3.6k -3,595
45 CHATHAM CAPITAL GROUP, INC. 0.26% of their portfolio SAVANNAH, GA 5,6175.6k $1.8m $1.8m 0.26% Unchanged
46 Gerber Kawasaki Wealth & Investment Management 0.06% of their portfolio SANTA MONICA, CA 5,5865.6k $1.8m $1.8m 0.06% Reduced -678 -678
47 Sharper & Granite LLC 0.63% of their portfolio EL SEGUNDO, CA 5,4995.5k $1.8m $1.8m 0.63% Added +729 +729
48 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 5,2995.3k $1.7m $1.7m 0.00% Reduced -13.1k -13,060
49 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,0985.1k $1.6m $1.6m 0.00% Added +2.7k +2,673
50 Merit Financial Group, LLC 0.01% of their portfolio ALPHARETTA, GA 5,0945.1k $1.6m $1.6m 0.01% Reduced -653 -653
51 CENTAURUS FINANCIAL, INC. 0.07% of their portfolio ANAHEIM, CA 4,3964.4k $1.4m $1.4m 0.07% Added +109 +109
52 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 4,2824.3k $1.4m $1.4m 0.01% Added +301 +301
53 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 4,2474.2k $1.4m $1.4m 0.00% New
54 ARKANSAS FINANCIAL GROUP, INC. 0.20% of their portfolio LITTLE ROCK, AR 4,1974.2k $1.3m $1.3m 0.20% Reduced -251 -251
55 Apollon Wealth Management, LLC 0.02% of their portfolio MOUNT PLEASANT, SC 4,1324.1k $1.3m $1.3m 0.02% Added +1 +1
56 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 4,1114.1k $1.3m $1.3m 0.00% Reduced -1.0k -1,048
57 Chicago Partners Investment Group LLC 0.04% of their portfolio CHICAGO, IL 4,0344.0k $1.4m $1.4m 0.04% Added +1 +1
58 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 3,9864.0k $1.3m $1.3m 0.00% Added +774 +774
59 Global Assets Advisory, LLC 0.34% of their portfolio ORLANDO, FL 3,6213.6k $1.2m $1.2m 0.34% Added +1.3k +1,289
60 SFI Advisors, LLC 0.73% of their portfolio Montclair, NJ 3,6063.6k $1.2m $1.2m 0.73% Reduced -39 -39
61 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 3,5723.6k $1.1m $1.1m 0.00% Added +123 +123
62 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 3,5663.6k $1.1m $1.1m 0.00% New
63 Regent Peak Wealth Advisors LLC 0.23% of their portfolio ATLANTA, GA 3,5263.5k $1.1m $1.1m 0.23% First filing
64 Advisory Services Network, LLC 0.02% of their portfolio ATLANTA, GA 3,4423.4k $1.1m $1.1m 0.02% Unchanged
65 Fifth Third Securities, Inc. 0.07% of their portfolio Cincinnati, OH 3,3823.4k $1.1m $1.1m 0.07% Added +111 +111
66 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 3,3093.3k $1.1m $1.1m 0.00% Added +140 +140
67 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 3,1803.2k $1.0m $1.0m 0.00% Reduced -344 -344
68 Global Financial Private Client, LLC 0.36% of their portfolio Sarasota, FL 3,1503.1k $1.0m $1.0m 0.36% Added +111 +111
69 IHT Wealth Management, LLC 0.03% of their portfolio Chicago, IL 3,1243.1k $997.0k $997.0k 0.03% Reduced -1.8k -1,794
70 Prime Capital Investment Advisors, LLC 0.01% of their portfolio OVERLAND PARK, KS 3,0573.1k $975.4k $975.4k 0.01% Added +2 +2
71 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 2,8432.8k $907.1k $907.1k 0.00% Reduced -192 -192
72 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 2,7932.8k $891.3k $891.3k 0.00% Unchanged
73 WOLVERINE TRADING, LLC 0.02% of their portfolio CHICAGO, IL 2,7512.8k $869.5k $869.5k 0.02% New
74 Conservest Capital Advisors, Inc. 0.08% of their portfolio WYNNEWOOD, PA 2,5942.6k $827.8k $827.8k 0.08% Added +164 +164
75 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 2,5802.6k $823.3k $823.3k 0.00% Added +10 +10
76 Rathbones Group PLC 0.00% of their portfolio Liverpool, X0 2,5682.6k $819.5k $819.5k 0.00% Unchanged
77 Wealthcare Advisory Partners LLC 0.02% of their portfolio WEST CHESTER, PA 2,5262.5k $806.1k $806.1k 0.02% Added +1.4k +1,367
78 Bawa N Mallick Trust 0.30% of their portfolio FOREST HILLS, NY 2,5002.5k $797.8k $797.8k 0.30% Unchanged
79 Sovran Advisors, LLC 0.07% of their portfolio SAN DIEGO, CA 2,3962.4k $834.5k $834.5k 0.07% Reduced -227 -227
80 Stratos Wealth Partners, LTD. 0.01% of their portfolio BEACHWOOD, OH 2,3592.4k $752.9k $752.9k 0.01% Reduced -116 -116
81 Beacon Financial Advisory LLC 0.17% of their portfolio CLEVELAND, OH 2,3352.3k $745.2k $745.2k 0.17% Added +1 +1
82 Soltis Investment Advisors LLC 0.05% of their portfolio ST. GEORGE, UT 2,3032.3k $734.9k $734.9k 0.05% Reduced -97 -97
83 Tower Research Capital LLC (TRC) 0.02% of their portfolio NEW YORK, NY 2,1412.1k $683.2k $683.2k 0.02% Reduced -12.0k -12,010
84 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 2,1002.1k $670.2k $670.2k 0.00% New
85 Kaizen Financial Strategies 0.30% of their portfolio CAMPBELL, CA 2,0102.0k $668.1k $668.1k 0.30% Added +10 +10
86 PEAPACK GLADSTONE FINANCIAL CORP 0.01% of their portfolio BEDMINSTER, NJ 2,0002.0k $638.0k $638.0k 0.01% Unchanged
87 Argent Trust Co 0.02% of their portfolio NASHVILLE, TN 2,0002.0k $638.2k $638.2k 0.02% Reduced -300 -300
88 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 1,9501.9k $622.3k $622.3k 0.00% New
89 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.04% of their portfolio ORLANDO, FL 1,9501.9k $499.5k $499.5k 0.04% Unchanged
90 M3 Advisory Group, LLC 0.38% of their portfolio NEEDHAM HEIGHTS, MA 1,9301.9k $615.8k $615.8k 0.38% Added +45 +45
91 CHEMUNG CANAL TRUST CO 0.12% of their portfolio ELMIRA, NY 1,8711.9k $597.1k $597.1k 0.12% Unchanged
92 AGP FRANKLIN, LLC 0.29% of their portfolio FRANKLIN, TN 1,8651.9k $595.2k $595.2k 0.29% Reduced -117 -117
93 GTS SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 1,8291.8k $583.7k $583.7k 0.02% New
94 Patton Albertson Miller Group, LLC 0.07% of their portfolio Chattanooga, TN 1,8131.8k $578.6k $578.6k 0.07% Reduced -1.7k -1,655
95 SONATA CAPITAL GROUP INC 0.21% of their portfolio SEATTLE, WA 1,7501.8k $558.0k $558.0k 0.21% Unchanged
96 Manchester Capital Management LLC 0.08% of their portfolio MANCHESTER, VT 1,7501.8k $558.5k $558.5k 0.08% Unchanged
97 SOA Wealth Advisors, LLC. 0.10% of their portfolio NEW YORK, NY 1,7491.7k $558.0k $558.0k 0.10% Reduced -22 -22
98 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 1,7001.7k $542.7k $542.7k 0.00% Added +124 +124
99 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 1,6741.7k $534.1k $534.1k 0.00% Reduced -1.7k -1,746
100 Biltmore Family Office, LLC 0.07% of their portfolio CHARLOTTE, NC 1,6501.6k $526.5k $526.5k 0.07% Unchanged