Vault-13

SPDR SER TR JNK

BLOOMBERG HIGH Y · ETP · CUSIP 78468R622

537 institutional holders +21 vs Q3 2023
84,551,17684.6m shares reported held*
$8.0bnreported value*
62 new 164 added 184 reduced 68 sold out net bought ≈ $294.2m (+3.3m 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 ($4.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $95.03. Options: 5 managers hold calls ($49.3m notional), 6 hold puts ($60.6m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 468Q4 22: 538Q1 23: 510Q2 23: 518Q3 23: 516Q4 23: 537537Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022468
Q4 2022538
Q1 2023510
Q2 2023518
Q3 2023516
Q4 2023537

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 22: 279 bought or addedQ4 22: 220 cut or sold outQ4 22Q1 23: 203 bought or addedQ1 23: 288 cut or sold outQ1 23Q2 23: 225 bought or addedQ2 23: 241 cut or sold outQ2 23Q3 23: 220 bought or addedQ3 23: 240 cut or sold outQ3 23Q4 23: 226 bought or addedQ4 23: 252 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022279220
Q1 2023203288
Q2 2023225241
Q3 2023220240
Q4 2023226252

Calls vs puts

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

CallsPuts
$0$20m$40m$60m$80mQ1 23 calls: $15.5mQ1 23 puts: $68.3mQ1 23P/C 4.42Q2 23 calls: $14.3mQ2 23 puts: $37.2mQ2 23P/C 2.60Q3 23 calls: $15.2mQ3 23 puts: $31.6mQ3 23P/C 2.07Q4 23 calls: $49.3mQ4 23 puts: $60.6mQ4 23P/C 1.23
Numbers
QuarterCallsPutsP/C
Q1 2023$15.5m$68.3m4.42
Q2 2023$14.3m$37.2m2.60
Q3 2023$15.2m$31.6m2.07
Q4 2023$49.3m$60.6m1.23

Biggest buyers

GOLDMAN SACHS GROUP INC Added +3,009,957+3.0m
Clark Capital Management Group, Inc. Added +2,677,134+2.7m
JPMORGAN CHASE & CO Added +2,108,771+2.1m
Kensington Asset Management, LLC New +1,651,300+1.7m
Man Group plc New +892,377+892.4k
TOEWS CORP /ADV New +738,300+738.3k
MORGAN STANLEY Added +522,644+522.6k
Aristotle Pacific Capital, LLC Added +440,789+440.8k
BANK OF AMERICA CORP /DE/ Added +436,577+436.6k
Bank of New York Mellon Corp Added +359,689+359.7k

Biggest sellers

JANE STREET GROUP, LLC Reduced -3,284,685-3.3m
State of New Jersey Common Pension Fund D Sold out -1,437,700-1.4m
Ocean Park Asset Management, LLC Reduced -1,054,006-1.1m
UNITED CAPITAL FINANCIAL ADVISORS, LLC Reduced -994,436-994.4k
ENVESTNET ASSET MANAGEMENT INC Reduced -904,051-904.1k
MEEDER ASSET MANAGEMENT INC Reduced -779,557-779.6k
BlackRock Inc. Reduced -591,252-591.3k
Elo Mutual Pension Insurance Co Sold out -502,000-502.0k
Mitsubishi UFJ Asset Management Co., Ltd. Reduced -493,680-493.7k
Man Group plc Sold out -408,138-408.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $45.0m474.9k shares
Walleye Trading LLC Unchanged $3.0m31.8k shares
CITADEL ADVISORS LLC Reduced $1.3m13.6k shares
Cutler Group LLC / CA Added $40.0k7.4k shares
BLUEFIN CAPITAL MANAGEMENT, LLC New $3.0k30.2k shares

Biggest puts

BlackRock Inc. New $30.1m317.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $18.4m194.0k shares
CITADEL ADVISORS LLC Added $8.4m88.7k shares
Walleye Trading LLC Reduced $2.8m29.7k shares
GTS SECURITIES LLC Added $899.9k9.5k shares
Cutler Group LLC / CA Added $6.0k7.4k 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 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 STATE STREET CORP 0.04% of their portfolio BOSTON, MA 8,296,8908.3m $786.0m $786.0m 0.04% Reduced -65.1k -65,061
2 GOLDMAN SACHS GROUP INC 0.16% of their portfolio NEW YORK, NY 7,567,3667.6m $716.9m $716.9m 0.16% Added +3.0m +3,009,957
3 Clark Capital Management Group, Inc. 4.94% of their portfolio PHILADELPHIA, PA 6,373,6706.4m $603.8m $603.8m 4.94% Added +2.7m +2,677,134
4 WELLS FARGO & COMPANY/MN 0.11% of their portfolio SAN FRANCISCO, CA 4,155,5454.2m $393.7m $393.7m 0.11% Added +51.8k +51,770
5 Japan Science & Technology Agency 3.99% of their portfolio TOKYO, M0 3,858,0543.9m $365.5m $365.5m 3.99% Unchanged
6 Ocean Park Asset Management, LLC 17.37% of their portfolio SANTA MONICA, CA 3,742,6003.7m $354.5m $354.5m 17.37% Reduced -1.1m -1,054,006
7 ASSETMARK, INC 1.25% of their portfolio CONCORD, CA 3,664,6963.7m $347.2m $347.2m 1.25% Added +166.6k +166,584
8 ENVESTNET ASSET MANAGEMENT INC 0.12% of their portfolio Berwyn, PA 3,063,9003.1m $290.2m $290.2m 0.12% Reduced -904.1k -904,051
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,865,2902.9m $271.4m $271.4m 0.01% Added +2.1m +2,108,771
10 Mitsubishi UFJ Asset Management Co., Ltd. 0.36% of their portfolio TOKYO, M0 2,186,2972.2m $206.8m $206.8m 0.36% Reduced -493.7k -493,680
11 BlackRock Inc. 0.01% of their portfolio New York, NY 2,125,7992.1m $201.4m $201.4m 0.01% Reduced -591.3k -591,252
12 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 1,910,2881.9m $181.0m $181.0m 0.04% Added +359.7k +359,689
13 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,662,6241.7m $157.5m $157.5m 0.01% Added +522.6k +522,644
14 Kensington Asset Management, LLC 8.15% of their portfolio AUSTIN, TX 1,651,3001.7m $156.4m $156.4m 8.15% New
15 Thrivent Financial for Lutherans 0.33% of their portfolio Minneapolis, MN 1,607,7511.6m $152.3m $152.3m 0.33% Reduced -56.7k -56,688
16 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.94% of their portfolio IRVING, TX 1,192,1891.2m $112.9m $112.9m 0.94% Reduced -994.4k -994,436
17 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,180,0951.2m $111.8m $111.8m 0.01% Added +436.6k +436,577
18 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.86% of their portfolio VICTORIA, A1 1,110,0001.1m $105.2m $105.2m 0.86% Added +336.0k +336,000
19 OSAIC HOLDINGS, INC. 0.18% of their portfolio SCOTTSDALE, AZ 1,076,4811.1m $102.0m $102.0m 0.18% Reduced -395.1k -395,099
20 Man Group plc 0.24% of their portfolio LONDON, X0 892,377892.4k $84.5m $84.5m 0.24% New
21 SCHRODER INVESTMENT MANAGEMENT GROUP 0.10% of their portfolio London, X0 839,618839.6k $79.5m $79.5m 0.10% Reduced -140.1k -140,072
22 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 825,993826.0k $78.2m $78.2m 0.02% Added +304.4k +304,427
23 JANE STREET GROUP, LLC 0.09% of their portfolio NEW YORK, NY 786,499786.5k $74.5m $74.5m 0.09% Reduced -3.3m -3,284,685
24 TOEWS CORP /ADV 16.60% of their portfolio NORTHFIELD, NJ 738,300738.3k $69.9m $69.9m 16.60% New
25 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 726,571726.6k $68.8m $68.8m 0.05% Reduced -10.9k -10,932
26 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 690,557690.6k $65.4m $65.4m 0.02% Added +151.5k +151,493
27 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 611,446611.4k $57.9m $57.9m 0.04% Reduced -77.5k -77,514
28 Sumitomo Mitsui DS Asset Management Company, Ltd 0.72% of their portfolio TOKYO, M0 582,567582.6k $55.2m $55.2m 0.72% Reduced -39.9k -39,872
29 Private Ocean, LLC 5.00% of their portfolio SAN RAFAEL, CA 531,692531.7k $50.4m $50.4m 5.00% Reduced -43.8k -43,765
30 Quotient Wealth Partners, LLC 1.88% of their portfolio DALLAS, TX 511,431511.4k $48.4m $48.4m 1.88% First filing
31 Aristotle Pacific Capital, LLC 19.73% of their portfolio NEWPORT BEACH, CA 503,425503.4k $47.7m $47.7m 19.73% Added +440.8k +440,789
32 1832 Asset Management L.P. 0.08% of their portfolio TORONTO, A6 467,640467.6k $44.3m $44.3m 0.08% Reduced -265.2k -265,187
33 Envestnet Portfolio Solutions, Inc. 0.18% of their portfolio BERWYN, PA 445,147445.1k $42.2m $42.2m 0.18% Added +92.2k +92,237
34 HSBC HOLDINGS PLC 0.04% of their portfolio LONDON, X0 441,907441.9k $41.9m $41.9m 0.04% Reduced -116.3k -116,330
35 Balyasny Asset Management L.P. 0.11% of their portfolio Chicago, IL 423,065423.1k $40.1m $40.1m 0.11% Reduced -107.1k -107,063
36 Jefferies Financial Group Inc. 0.59% of their portfolio NEW YORK, NY 399,670399.7k $37.9m $37.9m 0.59% Added +354.7k +354,720
37 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 397,970398.0k $37.7m $37.7m 0.03% Reduced -63.1k -63,068
38 BNP PARIBAS FINANCIAL MARKETS 0.06% of their portfolio PARIS, I0 373,230373.2k $35.4m $35.4m 0.06% Added +303.8k +303,832
39 UBS Group AG 0.01% of their portfolio ZURICH, V8 364,168364.2k $34.5m $34.5m 0.01% Added +11.8k +11,768
40 Bank Julius Baer & Co. Ltd, Zurich 0.14% of their portfolio ZURICH, V8 347,910347.9k $33.0m $33.0m 0.14% Reduced -4.1k -4,104
41 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 340,596340.6k $32.3m $32.3m 0.03% Added +245.5k +245,462
42 Nan Shan Life Insurance Co., Ltd. 0.77% of their portfolio Taipei City, F5 337,566337.6k $32.0m $32.0m 0.77% Unchanged
43 FIRST CITIZENS BANK & TRUST CO 0.56% of their portfolio RALEIGH, NC 326,127326.1k $30.9m $30.9m 0.56% Added +88.5k +88,495
44 Angeles Investment Advisors, LLC 1.80% of their portfolio SANTA MONICA, CA 315,500315.5k $29.9m $29.9m 1.80% New
45 Point72 Asset Management, L.P. 0.09% of their portfolio STAMFORD, CT 302,900302.9k $28.7m $28.7m 0.09% New
46 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 300,746300.7k $28.5m $28.5m 0.01% Added +105.2k +105,174
47 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 283,361283.4k $26.8m $26.8m 0.02% Added +21.4k +21,376
48 BTS Asset Management, Inc. 18.88% of their portfolio Lincoln, MA 263,965264.0k $25.0m $25.0m 18.88% Reduced -389.0k -389,001
49 TOWNSQUARE CAPITAL LLC 0.43% of their portfolio Lehi, UT 262,363262.4k $24.9m $24.9m 0.43% Reduced -23.8k -23,773
50 Rafferty Asset Management, LLC 0.09% of their portfolio New York, NY 234,900234.9k $22.3m $22.3m 0.09% Added +164.2k +164,223
51 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 234,317234.3k $22.2m $22.2m 0.02% Reduced -77.3k -77,269
52 SageView Advisory Group, LLC 0.90% of their portfolio Newport Beach, CA 220,848220.8k $21.0m $21.0m 0.90% New
53 ALLSTATE CORP 1.39% of their portfolio NORTHBROOK, IL 212,913212.9k $20.2m $20.2m 1.39% Unchanged
54 Symmetry Partners, LLC 1.06% of their portfolio GLASTONBURY, CT 206,340206.3k $19.5m $19.5m 1.06% Added +3.7k +3,692
55 CONNING INC. 0.66% of their portfolio HARTFORD, CT 200,000200.0k $18.9m $18.9m 0.66% Unchanged
56 Cetera Advisor Networks LLC 0.10% of their portfolio EL SEGUNDO, CA 197,993198.0k $18.8m $18.8m 0.10% Reduced -25.5k -25,514
57 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 194,416194.4k $18.4m $18.4m 0.03% Reduced -89.7k -89,702
58 NewSquare Capital LLC 1.57% of their portfolio NEWTOWN SQUARE, PA 174,955175.0k $16.5m $16.5m 1.57% Added +78.9k +78,942
59 Chandler Asset Management, Inc. 3.72% of their portfolio SAN DIEGO, CA 170,816170.8k $16.2m $16.2m 3.72% Added +5.2k +5,205
60 CAPSTONE INVESTMENT ADVISORS, LLC 0.27% of their portfolio NEW YORK, NY 166,801166.8k $15.8m $15.8m 0.27% New
61 Prime Capital Investment Advisors, LLC 0.24% of their portfolio OVERLAND PARK, KS 165,271165.3k $15.7m $15.7m 0.24% Added +159.0k +158,953
62 GUGGENHEIM CAPITAL LLC 0.11% of their portfolio CHICAGO, IL 146,793146.8k $13.9m $13.9m 0.11% Added +3.8k +3,759
63 Checchi Capital Advisers, LLC 1.11% of their portfolio BEVERLY HILLS, CA 144,253144.3k $13.7m $13.7m 1.11% Reduced -11.9k -11,856
64 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 140,771140.8k $13.3m $13.3m 0.06% Reduced -16.3k -16,272
65 One Capital Management, LLC 0.53% of their portfolio WESTLAKE VILLAGE, CA 140,170140.2k $13.3m $13.3m 0.53% Reduced -9.0k -9,033
66 MACKENZIE FINANCIAL CORP 0.02% of their portfolio TORONTO ONTARIO, A6 138,805138.8k $13.1m $13.1m 0.02% Added +12.8k +12,795
67 BLB&B Advisors, LLC 0.82% of their portfolio MONTGOMERYVILLE, PA 136,628136.6k $12.9m $12.9m 0.82% Reduced -42 -42
68 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 135,965136.0k $12.9m $12.9m 0.01% Added +117.4k +117,415
69 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 131,756131.8k $12.5m $12.5m 0.02% Reduced -44.3k -44,314
70 RFG Advisory, LLC 0.45% of their portfolio BIRMINGHAM, AL 122,469122.5k $11.6m $11.6m 0.45% Added +5.2k +5,229
71 Logan Stone Capital, LLC 2.30% of their portfolio CHICAGO, IL 120,110120.1k $11.4m $11.4m 2.30% Reduced -173.6k -173,569
72 Equitable Holdings, Inc. 0.14% of their portfolio NEW YORK, NY 118,602118.6k $11.2m $11.2m 0.14% Added +39.9k +39,868
73 FSA WEALTH PARTNERS, INC. 3.17% of their portfolio Rockville, MD 116,955117.0k $11.1m $11.1m 3.17% Added +1.6k +1,593
74 Apella Capital, LLC 0.60% of their portfolio WEST HARTFORD, CT 114,694114.7k $10.8m $10.8m 0.60% Added +5.3k +5,273
75 Gerber Kawasaki Wealth & Investment Management 0.60% of their portfolio SANTA MONICA, CA 106,393106.4k $10.1m $10.1m 0.60% Added +15.0k +15,021
76 NATIXIS ADVISORS, LLC 0.02% of their portfolio Boston, MA 98,52598.5k $9.3m $9.3m 0.02% New
77 Jessup Wealth Management, Inc 4.57% of their portfolio DAYTON, OH 96,53496.5k $9.1m $9.1m 4.57% Added +35.9k +35,921
78 Apollon Wealth Management, LLC 0.31% of their portfolio MOUNT PLEASANT, SC 95,53095.5k $9.0m $9.0m 0.31% Added +52.6k +52,640
79 CoreCap Advisors, LLC 0.57% of their portfolio SOUTHFIELD, MI 93,55893.6k $8.9m $8.9m 0.57% Added +1.3k +1,269
80 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 93,51693.5k $8.8m $8.8m 0.00% Reduced -25.7k -25,741
81 Csenge Advisory Group 0.55% of their portfolio CLEARWATER, FL 93,08893.1k $8.8m $8.8m 0.55% Reduced -2.1k -2,066
82 Schechter Investment Advisors, LLC 0.73% of their portfolio BIRMINGHAM, MI 89,21089.2k $8.5m $8.5m 0.73% Added +80.9k +80,918
83 Migdal Insurance & Financial Holdings Ltd. 0.17% of their portfolio Petach Tikva, L3 88,41988.4k $8.4m $8.4m 0.17% Added +600 +600
84 CIBC Asset Management Inc 0.03% of their portfolio TORONTO, Z4 87,98188.0k $8.3m $8.3m 0.03% New
85 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 87,97388.0k $8.3m $8.3m 0.01% Reduced -5.6k -5,624
86 Idaho Trust Co 4.77% of their portfolio BOISE, ID 86,83986.8k $8.2m $8.2m 4.77% Added +57.7k +57,725
87 Farther Finance Advisors, LLC 0.59% of their portfolio SAN FRANCISCO, CA 85,97386.0k $8.1m $8.1m 0.59% Added +74.2k +74,237
88 Shilanski & Associates, Inc. 3.08% of their portfolio ANCHORAGE, AK 85,47485.5k $8.1m $8.1m 3.08% Added +6.1k +6,130
89 Pathstone Holdings, LLC 0.04% of their portfolio ENGLEWOOD, NJ 84,44884.4k $8.0m $8.0m 0.04% First filing
90 Kingsview Wealth Management, LLC 0.24% of their portfolio GRANTS PASS, OR 84,33384.3k $8.0m $8.0m 0.24% Added +1.2k +1,250
91 Raymond James Financial Services Advisors, Inc. 0.01% of their portfolio ST. PETERSBURG, FL 77,52977.5k $7.3m $7.3m 0.01% Reduced -86.6k -86,624
92 Baker Avenue Asset Management, LP 0.31% of their portfolio SAN FRANCISCO, CA 74,21574.2k $7.0m $7.0m 0.31% Added +29.3k +29,310
93 Prospera Financial Services Inc 0.23% of their portfolio Dallas, TX 72,84672.8k $6.9m $6.9m 0.23% Added +64.1k +64,094
94 Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio SEOUL, M5 72,00072.0k $6.8m $6.8m 0.01% Added +14.0k +14,000
95 Integrated Wealth Concepts LLC 0.11% of their portfolio WALTHAM, MA 71,70371.7k $6.8m $6.8m 0.11% Added +41.6k +41,637
96 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 69,69869.7k $6.6m $6.6m 0.01% Reduced -1.2k -1,231
97 IFG Advisory, LLC 0.47% of their portfolio ATLANTA, GA 67,14867.1k $6.4m $6.4m 0.47% Added +2.3k +2,254
98 Merriman Wealth Management, LLC 0.31% of their portfolio SEATTLE, WA 66,96267.0k $6.3m $6.3m 0.31% Reduced -7.1k -7,149
99 ROVIN CAPITAL /UT/ /ADV 2.83% of their portfolio MESA, AZ 65,94565.9k $6.2m $6.2m 2.83% Reduced -69.6k -69,580
100 DARK FOREST CAPITAL MANAGEMENT LP 0.88% of their portfolio NEW YORK, NY 61,70961.7k $5.8m $5.8m 0.88% Reduced -17.2k -17,225