Vault-13

SPDR SERIES TRUST SPHY

PORTFLI HIGH YLD · ETP · CUSIP 78468R606

557 institutional holders +28 vs Q1 2026
317,848,879317.8m shares reported held*
$7.4bnreported value*
67 new 309 added 121 reduced 35 sold out net bought ≈ $994.4m (+42.4m 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 ($67.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $23.42. Options: 5 managers hold calls ($183.1m notional), 1 hold puts ($307.1k).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 130Q4 22: 157Q1 23: 170Q2 23: 180Q3 23: 210Q4 23: 274Q1 24: 307Q2 24: 324Q3 24: 377Q4 24: 440Q1 25: 459Q2 25: 455Q3 25: 481Q4 25: 538Q1 26: 529Q2 26: 557557Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 2022130
Q4 2022157
Q1 2023170
Q2 2023180
Q3 2023210
Q4 2023274
Q1 2024307
Q2 2024324
Q3 2024377
Q4 2024440
Q1 2025459
Q2 2025455
Q3 2025481
Q4 2025538
Q1 2026529
Q2 2026557

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 24: 259 bought or addedQ3 24: 107 cut or sold outQ4 24: 280 bought or addedQ4 24: 123 cut or sold outQ4 24Q1 25: 297 bought or addedQ1 25: 151 cut or sold outQ2 25: 279 bought or addedQ2 25: 193 cut or sold outQ2 25Q3 25: 326 bought or addedQ3 25: 143 cut or sold outQ4 25: 317 bought or addedQ4 25: 175 cut or sold outQ4 25Q1 26: 326 bought or addedQ1 26: 209 cut or sold outQ2 26: 376 bought or addedQ2 26: 156 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024259107
Q4 2024280123
Q1 2025297151
Q2 2025279193
Q3 2025326143
Q4 2025317175
Q1 2026326209
Q2 2026376156

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 25 calls: $115.5mQ3 25 puts: $213.1kQ3 25P/C 0.00Q4 25 calls: $182.9mQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $245.7mQ1 26 puts: $293.8kQ1 26P/C 0.00Q2 26 calls: $183.1mQ2 26 puts: $307.1kQ2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$115.5m$213.1k0.00
Q4 2025$182.9m$00.00
Q1 2026$245.7m$293.8k0.00
Q2 2026$183.1m$307.1k0.00

Biggest buyers

Elo Mutual Pension Insurance Co Added +8,347,990+8.3m
NEOS Investment Management LLC New +2,994,391+3.0m
Ocean Park Asset Management, LLC Added +2,116,024+2.1m
TOEWS CORP /ADV New +1,932,100+1.9m
Cambridge Investment Research Advisors, Inc. Added +1,928,415+1.9m
ENVESTNET ASSET MANAGEMENT INC Added +1,903,466+1.9m
CONNING INC. Added +1,702,258+1.7m
WELLS FARGO & COMPANY/MN Added +1,596,534+1.6m
Donoghue Forlines LLC New +1,377,655+1.4m
iA Global Asset Management Inc. Added +1,367,102+1.4m

Biggest sellers

49 WEALTH MANAGEMENT, LLC Reduced -1,977,305-2.0m
AMERICAN CENTURY COMPANIES INC Reduced -1,519,301-1.5m
MetLife Investment Management, LLC Reduced -1,150,000-1.1m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -806,634-806.6k
NEUBERGER BERMAN GROUP LLC Reduced -770,807-770.8k
Independent Advisor Alliance Sold out -520,588-520.6k
FINANCIAL LIFE ADVISORS Reduced -352,716-352.7k
Atlas Private Wealth Advisors Reduced -305,003-305.0k
Belpointe Asset Management LLC Reduced -295,736-295.7k
Curran Financial Partners, LLC Reduced -267,805-267.8k

Biggest calls

Optiver Holding B.V. Reduced $96.4m625.2k shares
IMC-Chicago, LLC Reduced $76.7m497.1k shares
GROUP ONE TRADING LLC Reduced $9.5m61.4k shares
CITADEL ADVISORS LLC New $412.5k17.6k shares
Ancora Advisors LLC New $50.3k600 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $307.1k13.1k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 29,646,38829.6m $694.9m $694.9m 0.04% Added +1.1m +1,144,153
2 SEI INVESTMENTS CO 0.44% of their portfolio OAKS, PA 21,167,13621.2m $496.2m $496.2m 0.44% Added +1.3m +1,334,811
3 Ilmarinen Mutual Pension Insurance Co 3.32% of their portfolio HELSINKI, H9 20,950,00020.9m $491.1m $491.1m 3.32% Added +500.0k +500,000
4 Elo Mutual Pension Insurance Co 4.31% of their portfolio ESPOO, H9 14,297,99014.3m $335.1m $335.1m 4.31% Added +8.3m +8,347,990
5 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 12,303,89612.3m $288.4m $288.4m 0.05% Added +1.6m +1,596,534
6 LPL Financial LLC 0.05% of their portfolio FORT MILL, SC 9,808,6619.8m $229.9m $229.9m 0.05% Added +506.5k +506,467
7 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 9,384,5819.4m $219.9m $219.9m 0.04% Added +493.8k +493,757
8 NEUBERGER BERMAN GROUP LLC 0.14% of their portfolio NEW YORK, NY 8,848,3198.8m $207.4m $207.4m 0.14% Reduced -770.8k -770,807
9 Municipal Employees' Retirement System of Michigan 2.12% of their portfolio LANSING, MI 8,191,7348.2m $192.0m $192.0m 2.12% Unchanged
10 VANTAGEPOINT INVESTMENT ADVISERS LLC 1.31% of their portfolio WASHINGTON, DC 7,482,7907.5m $175.4m $175.4m 1.31% Reduced -127.9k -127,880
11 US BANCORP \DE\ 0.18% of their portfolio MINNEAPOLIS, MN 7,165,8557.2m $168.0m $168.0m 0.18% Added +470.8k +470,785
12 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 7,045,8307.0m $165.2m $165.2m 0.01% Added +1.1m +1,125,487
13 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 6,981,9777.0m $163.7m $163.7m 0.04% Added +1.9m +1,903,466
14 Ocean Park Asset Management, LLC 6.86% of their portfolio SANTA MONICA, CA 6,080,8236.1m $142.5m $142.5m 6.86% Added +2.1m +2,116,024
15 Asset Management One Co., Ltd. 0.32% of their portfolio TOKYO, M0 5,253,4205.3m $123.1m $123.1m 0.32% Added +827.8k +827,800
16 Advisory Alpha, LLC 2.73% of their portfolio HOLLAND, MI 4,753,0034.8m $111.4m $111.4m 2.73% Reduced -1.4k -1,442
17 Creative Planning 0.06% of their portfolio OVERLAND PARK, KS 4,593,7184.6m $107.7m $107.7m 0.06% Reduced -145.5k -145,461
18 MML INVESTORS SERVICES, LLC 0.20% of their portfolio SPRINGFIELD, MA 4,250,1484.3m $99.6m $99.6m 0.20% Added +1.0m +1,027,429
19 Cetera Investment Advisers 0.08% of their portfolio SCHAUMBURG, IL 3,973,7764.0m $93.1m $93.1m 0.08% Added +417.5k +417,522
20 1832 Asset Management L.P. 0.11% of their portfolio TORONTO, A6 3,705,2523.7m $86.9m $86.9m 0.11% Added +106.3k +106,282
21 Advisors Capital Management, LLC 0.88% of their portfolio RIDGEWOOD, NJ 3,543,0423.5m $83.0m $83.0m 0.88% Added +211.8k +211,797
22 Kensington Asset Management, LLC 4.41% of their portfolio AUSTIN, TX 3,453,9783.5m $81.0m $81.0m 4.41% Added +325.0k +325,000
23 NEOS Investment Management LLC 0.26% of their portfolio Westport, CT 2,994,3913.0m $69.8m $69.8m 0.26% New
24 Cambridge Investment Research Advisors, Inc. 0.08% of their portfolio FAIRFIELD, IA 2,988,6863.0m $70.1m $70.1m 0.08% Added +1.9m +1,928,415
25 CONNING INC. 1.91% of their portfolio HARTFORD, CT 2,726,0042.7m $63.9m $63.9m 1.91% Added +1.7m +1,702,258
26 Capital Analysts, LLC 1.39% of their portfolio FORT WASHINGTON, PA 2,566,9782.6m $60.2m $60.2m 1.39% Added +183.7k +183,732
27 EXCHANGE TRADED CONCEPTS, LLC 0.29% of their portfolio Oklahoma City, OK 2,466,7212.5m $57.8m $57.8m 0.29% Added +664.0k +663,976
28 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,170,8582.2m $50.9m $50.9m 0.00% Added +62.1k +62,116
29 Horizon Investments, LLC 0.48% of their portfolio Charlotte, NC 2,096,0342.1m $44.1m $44.1m 0.48% Added +509.6k +509,574
30 BENJAMIN EDWARDS INC 0.44% of their portfolio Clayton, MO 2,042,8772.0m $47.9m $47.9m 0.44% Added +534.5k +534,505
31 TOEWS CORP /ADV 6.60% of their portfolio NORTHFIELD, NJ 1,932,1001.9m $45.3m $45.3m 6.60% New
32 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,866,5991.9m $43.8m $43.8m 0.00% Added +840.4k +840,387
33 Apella Capital, LLC 0.59% of their portfolio WEST HARTFORD, CT 1,803,0631.8m $42.1m $42.1m 0.59% Added +246.7k +246,737
34 BOKF, NA 0.56% of their portfolio TULSA, OK 1,744,5461.7m $40.9m $40.9m 0.56% Reduced -4.1k -4,140
35 iA Global Asset Management Inc. 0.46% of their portfolio QUEBEC, A8 1,645,5021.6m $38.6m $38.6m 0.46% Added +1.4m +1,367,102
36 CORNERSTONE ENTERPRISES, LLC 17.57% of their portfolio APPLETON, WI 1,643,3741.6m $38.5m $38.5m 17.57% Reduced -10.5k -10,533
37 State of New Jersey Common Pension Fund D 0.13% of their portfolio TRENTON, NJ 1,566,8581.6m $36.7m $36.7m 0.13% Unchanged
38 ASSETMARK, INC 0.06% of their portfolio CONCORD, CA 1,514,6211.5m $35.5m $35.5m 0.06% Added +145.8k +145,773
39 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,493,9711.5m $35.0m $35.0m 0.01% Added +127.8k +127,782
40 Iowa State Bank 5.62% of their portfolio URBANDALE, IA 1,435,5731.4m $33.6m $33.6m 5.62% Added +42.8k +42,754
41 Donoghue Forlines LLC 8.35% of their portfolio Boston, MA 1,377,6551.4m $32.3m $32.3m 8.35% New
42 Diversify Advisory Services, LLC 0.54% of their portfolio SANDY, UT 1,374,3611.4m $31.9m $31.9m 0.54% Added +1.3m +1,340,736
43 DIVERSIFY WEALTH MANAGEMENT, LLC 0.54% of their portfolio SANDY, UT 1,374,3611.4m $31.9m $31.9m 0.54% Added +195.6k +195,553
44 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 1,355,8801.4m $31.8m $31.8m 0.04% Added +650.4k +650,358
45 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,344,1871.3m $31.5m $31.5m 0.00% Reduced -140.5k -140,524
46 CNO Financial Group, Inc. 17.16% of their portfolio Carmel, IN 1,279,0001.3m $30.0m $30.0m 17.16% Unchanged
47 Kohmann Bosshard Financial Services, LLC 2.49% of their portfolio FAIRLAWN, OH 1,251,8521.3m $29.3m $29.3m 2.49% Added +133.3k +133,347
48 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 1,221,6381.2m $28.6m $28.6m 0.05% Added +324.8k +324,813
49 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 1,217,4951.2m $28.5m $28.5m 0.01% Added +337.8k +337,810
50 SageView Advisory Group, LLC 0.93% of their portfolio Newport Beach, CA 1,209,5971.2m $28.4m $28.4m 0.93% Reduced -110.2k -110,205
51 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 1,165,5701.2m $27.3m $27.3m 0.01% Reduced -1.5m -1,519,301
52 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 1,163,5511.2m $27.3m $27.3m 0.01% Added +13.5k +13,532
53 VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio ATLANTA, GA 1,151,3711.2m $27.0m $27.0m 0.02% Added +78.9k +78,905
54 Allspring Global Investments Holdings, LLC 0.04% of their portfolio CHARLOTTE, NC 1,138,7791.1m $26.7m $26.7m 0.04% Reduced -25.7k -25,664
55 Madison Asset Management, LLC 0.31% of their portfolio MADISON, WI 1,107,2551.1m $26.0m $26.0m 0.31% Added +35.5k +35,500
56 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 1,085,7211.1m $25.5m $25.5m 0.03% Reduced -192.6k -192,558
57 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,036,2401.0m $24.3m $24.3m 0.01% Added +115.5k +115,534
58 RFG Holdings, Inc. 5.00% of their portfolio Argyle, TX 1,016,8271.0m $23.8m $23.8m 5.00% Added +39.3k +39,324
59 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 978,295978.3k $22.9m $22.9m 0.01% New
60 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 942,535942.5k $22.1m $22.1m 0.00% Added +55.8k +55,822
61 AlphaStar Capital Management, LLC 1.35% of their portfolio CORNELIUS, NC 907,253907.3k $21.3m $21.3m 1.35% Added +111.7k +111,716
62 Alaska Permanent Capital Management, LLC 1.35% of their portfolio ANCHORAGE, AK 885,285885.3k $20.7m $20.7m 1.35% Added +250.2k +250,198
63 Asset Allocation & Management Company, LLC 6.14% of their portfolio CHICAGO, IL 804,501804.5k $18.9m $18.9m 6.14% Unchanged
64 Inspire Advisors, LLC 1.27% of their portfolio Meridian, ID 781,210781.2k $18.3m $18.3m 1.27% Added +42.5k +42,524
65 CHRISTINE MESSMER PC 10.31% of their portfolio COLLEGEVILLE, PA 780,662780.7k $18.3m $18.3m 10.31% Added +31.5k +31,509
66 NEPC LLC 0.33% of their portfolio Boston, MA 750,656750.7k $17.6m $17.6m 0.33% Added +420.4k +420,424
67 SAM Advisors, LLC 4.77% of their portfolio OAKHURST, CA 746,103746.1k $17.5m $17.5m 4.77% Added +31.5k +31,457
68 Steward Partners Investment Advisory, LLC 0.09% of their portfolio STAMFORD, CT 742,729742.7k $17.4m $17.4m 0.09% Reduced -257.8k -257,848
69 Equitable Holdings, Inc. 0.10% of their portfolio NEW YORK, NY 740,937740.9k $17.3m $17.3m 0.10% Added +15.0k +14,997
70 OLD MISSION CAPITAL LLC 0.44% of their portfolio CHICAGO, IL 737,048737.0k $17.3m $17.3m 0.44% New
71 New York Life Investment Management LLC 0.12% of their portfolio New York, NY 716,537716.5k $16.8m $16.8m 0.12% New
72 Smith Salley Wealth Management 0.73% of their portfolio GREENSBORO, NC 715,925715.9k $16.8m $16.8m 0.73% Added +534.2k +534,179
73 Willis Johnson & Associates, Inc. 0.91% of their portfolio Houston, TX 698,761698.8k $16.4m $16.4m 0.91% Added +16.8k +16,768
74 Financial Futures Ltd Liability Co. 6.08% of their portfolio BRIELLE, NJ 681,170681.2k $16.0m $16.0m 6.08% Added +34.2k +34,184
75 RETIREMITTEN FINANCIAL LLC 6.35% of their portfolio MILFORD, MI 642,152642.2k $15.1m $15.1m 6.35% Added +60.1k +60,129
76 Clearstead Advisors, LLC 0.14% of their portfolio CLEVELAND, OH 638,026638.0k $15.0m $15.0m 0.14% Added +616.7k +616,724
77 MGO ONE SEVEN LLC 0.25% of their portfolio Beachwood, OH 634,522634.5k $14.9m $14.9m 0.25% Added +30.6k +30,609
78 Farther Finance Advisors, LLC 0.12% of their portfolio SAN FRANCISCO, CA 633,578633.6k $14.9m $14.9m 0.12% Added +58.1k +58,056
79 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 601,456601.5k $14.1m $14.1m 0.00% Added +152.5k +152,512
80 Kestra Advisory Services, LLC 0.05% of their portfolio AUSTIN, TX 599,927599.9k $14.1m $14.1m 0.05% Added +375.8k +375,819
81 Belpointe Asset Management LLC 0.46% of their portfolio RENO, NV 598,550598.5k $14.0m $14.0m 0.46% Reduced -295.7k -295,736
82 SSI INVESTMENT MANAGEMENT LLC 0.80% of their portfolio Los Angeles, CA 584,134584.1k $13.7m $13.7m 0.80% Added +325.2k +325,155
83 Foundations Investment Advisors, LLC 0.14% of their portfolio PHOENIX, AZ 579,909579.9k $13.6m $13.6m 0.14% Added +202.9k +202,910
84 Hilltop Partners LLC 3.16% of their portfolio MISHAWAKA, IN 555,583555.6k $13.0m $13.0m 3.16% Reduced -20.0k -19,961
85 Syntegra Private Wealth Group, LLC 1.00% of their portfolio Chesterfield, MO 548,569548.6k $12.9m $12.9m 1.00% Reduced -228.4k -228,388
86 MetLife Investment Management, LLC 0.06% of their portfolio Whippany, NJ 524,673524.7k $12.3m $12.3m 0.06% Reduced -1.1m -1,150,000
87 Tower Research Capital LLC (TRC) 0.30% of their portfolio NEW YORK, NY 521,002521.0k $12.2m $12.2m 0.30% New
88 HORIZON FINANCIAL SERVICES, LLC 4.58% of their portfolio WINSTON SALEM, NC 509,747509.7k $11.9m $11.9m 4.58% Added +18.6k +18,559
89 WCG Wealth Advisors LLC 0.28% of their portfolio LAS VEGAS, NV 506,929506.9k $11.9m $11.9m 0.28% Added +87.1k +87,123
90 DT Investment Partners, LLC 0.87% of their portfolio CHADDS FORD, PA 495,845495.8k $11.6m $11.6m 0.87% Added +7.7k +7,698
91 Onyx Bridge Wealth Group LLC 1.05% of their portfolio TARRYTOWN, NY 495,553495.6k $11.6m $11.6m 1.05% Added +447.6k +447,630
92 5th Street Advisors, LLC 4.50% of their portfolio Southport, CT 495,546495.5k $11.6m $11.6m 4.50% Added +115.5k +115,458
93 S&A Financial Services, Inc. 6.92% of their portfolio Overland Park, KS 483,315483.3k $11.3m $11.3m 6.92% Added +55.9k +55,932
94 FINANCIAL ADVISORY PARTNERS, LLC 2.90% of their portfolio WINTER PARK, FL 473,062473.1k $11.1m $11.1m 2.90% Added +26.4k +26,440
95 Quartz Partners, LLC 3.59% of their portfolio SARATOGA SPRINGS, NY 467,208467.2k $11.0m $11.0m 3.59% Added +10.5k +10,462
96 CHOREO, LLC 0.12% of their portfolio ROCKFORD, IL 449,900449.9k $10.5m $10.5m 0.12% Added +17.7k +17,718
97 Carolina Wealth Advisors, LLC 3.88% of their portfolio MYRTLE BEACH, SC 422,552422.6k $9.9m $9.9m 3.88% Added +7.1k +7,091
98 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 415,393415.4k $9.7m $9.7m 0.00% Added +17.0k +16,998
99 Keeler Thomas Management LLC 3.31% of their portfolio Orem, UT 398,471398.5k $9.3m $9.3m 3.31% Added +12.3k +12,329
100 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 398,460398.5k $9.3m $9.3m 0.01% Added +3.4k +3,352