Vault-13

SPDR SER TR JNK

BLOOMBERG HIGH Y · ETP · CUSIP 78468R622

557 institutional holders -19 vs Q4 2024
72,190,64972.2m shares reported held*
$6.9bnreported value*
50 new 182 added 216 reduced 65 sold out net sold ≈ $515.6m (-5.4m 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 ($34.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $95.31. Options: 2 managers hold calls ($6.0m notional), 4 hold puts ($3.3m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 468Q4 22: 538Q1 23: 510Q2 23: 518Q3 23: 516Q4 23: 537Q1 24: 555Q2 24: 543Q3 24: 555Q4 24: 576Q1 25: 557557Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022468
Q4 2022538
Q1 2023510
Q2 2023518
Q3 2023516
Q4 2023537
Q1 2024555
Q2 2024543
Q3 2024555
Q4 2024576
Q1 2025557

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 23: 225 bought or addedQ2 23: 241 cut or sold outQ3 23: 220 bought or addedQ3 23: 240 cut or sold outQ3 23Q4 23: 226 bought or addedQ4 23: 252 cut or sold outQ1 24: 270 bought or addedQ1 24: 225 cut or sold outQ1 24Q2 24: 243 bought or addedQ2 24: 257 cut or sold outQ3 24: 227 bought or addedQ3 24: 263 cut or sold outQ3 24Q4 24: 282 bought or addedQ4 24: 216 cut or sold outQ1 25: 232 bought or addedQ1 25: 281 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023225241
Q3 2023220240
Q4 2023226252
Q1 2024270225
Q2 2024243257
Q3 2024227263
Q4 2024282216
Q1 2025232281

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ2 24 calls: $2.9mQ2 24 puts: $10.7mQ2 24P/C 3.65Q3 24 calls: $19.5mQ3 24 puts: $15.6mQ3 24P/C 0.80Q4 24 calls: $4.8mQ4 24 puts: $7.3mQ4 24P/C 1.50Q1 25 calls: $6.0mQ1 25 puts: $3.3mQ1 25P/C 0.55
Numbers
QuarterCallsPutsP/C
Q2 2024$2.9m$10.7m3.65
Q3 2024$19.5m$15.6m0.80
Q4 2024$4.8m$7.3m1.50
Q1 2025$6.0m$3.3m0.55

Biggest buyers

Varma Mutual Pension Insurance Co New +1,100,000+1.1m
Mitsubishi UFJ Asset Management Co., Ltd. Added +360,678+360.7k
WELLS FARGO & COMPANY/MN Added +292,712+292.7k
COMMONWEALTH EQUITY SERVICES, LLC Added +185,587+185.6k
Thrivent Financial for Lutherans Added +167,295+167.3k
Kestra Advisory Services, LLC Added +143,633+143.6k
Counterpoint Mutual Funds LLC Added +125,800+125.8k
BARCLAYS PLC Added +107,825+107.8k
CAPSTONE INVESTMENT ADVISORS, LLC New +93,401+93.4k
Apollon Wealth Management, LLC Added +75,821+75.8k

Biggest sellers

STATE STREET CORP Reduced -1,375,628-1.4m
JANE STREET GROUP, LLC Reduced -793,585-793.6k
JPMORGAN CHASE & CO Reduced -653,067-653.1k
MORGAN STANLEY Reduced -574,229-574.2k
ROYAL BANK OF CANADA Reduced -485,062-485.1k
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -433,118-433.1k
Angeles Investment Advisors, LLC Sold out -421,800-421.8k
LPL Financial LLC Reduced -347,140-347.1k
SEI INVESTMENTS CO Reduced -339,415-339.4k
Envestnet Portfolio Solutions, Inc. Reduced -269,673-269.7k

Biggest calls

WOLVERINE TRADING, LLC Added $3.6m38.2k shares
CITADEL ADVISORS LLC Reduced $2.4m25.3k shares

Biggest puts

CITADEL ADVISORS LLC Added $1.4m15.0k shares
JANE STREET GROUP, LLC Reduced $943.5k9.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $724.3k7.6k shares
WOLVERINE TRADING, LLC Reduced $228.5k2.4k 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 STATE STREET CORP 0.04% of their portfolio BOSTON, MA 9,242,8319.2m $880.8m $880.8m 0.04% Reduced -1.4m -1,375,628
2 Clark Capital Management Group, Inc. 3.72% of their portfolio PHILADELPHIA, PA 5,449,8305.4m $519.4m $519.4m 3.72% Reduced -33.6k -33,616
3 ASSETMARK, INC 1.25% of their portfolio CONCORD, CA 4,756,4694.8m $453.3m $453.3m 1.25% Reduced -207.2k -207,153
4 WELLS FARGO & COMPANY/MN 0.11% of their portfolio SAN FRANCISCO, CA 4,742,0084.7m $451.9m $451.9m 0.11% Added +292.7k +292,712
5 Ocean Park Asset Management, LLC 15.28% of their portfolio SANTA MONICA, CA 4,519,6154.5m $430.7m $430.7m 15.28% Reduced -154.3k -154,300
6 Mitsubishi UFJ Asset Management Co., Ltd. 0.33% of their portfolio TOKYO, M0 3,723,6553.7m $354.5m $354.5m 0.33% Added +360.7k +360,678
7 ENVESTNET ASSET MANAGEMENT INC 0.09% of their portfolio Berwyn, PA 2,913,0382.9m $277.6m $277.6m 0.09% Reduced -220.7k -220,725
8 Japan Science & Technology Agency 4.25% of their portfolio TOKYO, M0 2,900,0002.9m $276.4m $276.4m 4.25% Unchanged
9 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,830,9421.8m $174.5m $174.5m 0.00% Added +27.4k +27,441
10 Thrivent Financial for Lutherans 0.32% of their portfolio Minneapolis, MN 1,545,8251.5m $146.5m $146.5m 0.32% Added +167.3k +167,295
11 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 1,410,1621.4m $134.4m $134.4m 0.03% Reduced -104.1k -104,120
12 Kensington Asset Management, LLC 11.39% of their portfolio AUSTIN, TX 1,136,9801.1m $108.4m $108.4m 11.39% Unchanged
13 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 1,113,9881.1m $106.2m $106.2m 0.04% Reduced -347.1k -347,140
14 Varma Mutual Pension Insurance Co 0.90% of their portfolio Varma, H9 1,100,0001.1m $104.8m $104.8m 0.90% New
15 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.89% of their portfolio IRVING, TX 1,094,7191.1m $104.3m $104.3m 0.89% Reduced -81.9k -81,948
16 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,019,5631.0m $98.6m $98.6m 0.03% Added +31.0k +31,039
17 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 997,726997.7k $95.1m $95.1m 0.02% Reduced -173.3k -173,290
18 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 918,035918.0k $87.5m $87.5m 0.01% Reduced -574.2k -574,229
19 Man Group plc 0.25% of their portfolio LONDON, X0 892,377892.4k $85.0m $85.0m 0.25% Unchanged
20 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 825,428825.4k $78.7m $78.7m 0.01% Reduced -3.9k -3,871
21 BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio PARIS, I0 753,691753.7k $71.8m $71.8m 0.05% First filing
22 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 651,474651.5k $62.1m $62.1m 0.03% Reduced -7.7k -7,729
23 Sumitomo Mitsui DS Asset Management Company, Ltd 0.56% of their portfolio TOKYO, M0 573,653573.7k $54.7m $54.7m 0.56% Reduced -21.1k -21,070
24 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 547,801547.8k $52.2m $52.2m 0.00% Reduced -653.1k -653,067
25 Aristotle Pacific Capital, LLC 16.81% of their portfolio NEWPORT BEACH, CA 535,909535.9k $51.1m $51.1m 16.81% Reduced -213.2k -213,193
26 Migdal Insurance & Financial Holdings Ltd. 0.65% of their portfolio Petach Tikva, L3 487,374487.4k $46.4m $46.4m 0.65% Reduced -35.2k -35,155
27 UBS Group AG 0.01% of their portfolio ZURICH, V8 418,536418.5k $39.9m $39.9m 0.01% Added +53.8k +53,807
28 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 411,284411.3k $39.2m $39.2m 0.01% Reduced -485.1k -485,062
29 BLB&B Advisors, LLC 1.99% of their portfolio MONTGOMERYVILLE, PA 410,043410.0k $39.1m $39.1m 1.99% Added +39.0k +39,035
30 SCHRODER INVESTMENT MANAGEMENT GROUP 0.04% of their portfolio London, X0 408,176408.2k $38.9m $38.9m 0.04% Reduced -433.1k -433,118
31 Bank Julius Baer & Co. Ltd, Zurich 0.12% of their portfolio ZURICH, V8 384,025384.0k $36.6m $36.6m 0.12% Added +46.2k +46,158
32 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio Toronto, A6 371,156371.2k $35.4m $35.4m 0.03% Added +12.5k +12,500
33 Counterpoint Mutual Funds LLC 5.04% of their portfolio San Diego, CA 369,491369.5k $35.2m $35.2m 5.04% Added +125.8k +125,800
34 OSAIC HOLDINGS, INC. 0.07% of their portfolio SCOTTSDALE, AZ 344,237344.2k $32.8m $32.8m 0.07% Reduced -198.7k -198,713
35 Nan Shan Life Insurance Co., Ltd. 0.76% of their portfolio Taipei City, F5 337,566337.6k $32.2m $32.2m 0.76% Unchanged
36 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 325,134325.1k $31.0m $31.0m 0.01% Added +45.2k +45,168
37 Cetera Investment Advisers 0.06% of their portfolio SCHAUMBURG, IL 311,120311.1k $29.6m $29.6m 0.06% Added +14.2k +14,176
38 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 306,741306.7k $29.2m $29.2m 0.02% Reduced -42.8k -42,848
39 LOOMIS SAYLES & CO L P 0.04% of their portfolio BOSTON, MA 290,131290.1k $27.6m $27.6m 0.04% Reduced -5.4k -5,367
40 Police & Firemen's Retirement System of New Jersey 0.26% of their portfolio TRENTON, NJ 268,101268.1k $25.6m $25.6m 0.26% Unchanged
41 Checchi Capital Advisers, LLC 1.63% of their portfolio BEVERLY HILLS, CA 241,291241.3k $23.0m $23.0m 1.63% Added +46.1k +46,118
42 Kestra Advisory Services, LLC 0.11% of their portfolio AUSTIN, TX 232,219232.2k $22.1m $22.1m 0.11% Added +143.6k +143,633
43 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 226,418226.4k $21.6m $21.6m 0.03% Added +185.6k +185,587
44 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 218,550218.6k $20.8m $20.8m 0.01% Unchanged
45 ALLSTATE CORP 0.59% of their portfolio NORTHBROOK, IL 210,000210.0k $20.0m $20.0m 0.59% Unchanged
46 Envestnet Portfolio Solutions, Inc. 0.08% of their portfolio BERWYN, PA 209,133209.1k $19.9m $19.9m 0.08% Reduced -269.7k -269,673
47 Gerber Kawasaki Wealth & Investment Management 0.85% of their portfolio SANTA MONICA, CA 197,688197.7k $18.8m $18.8m 0.85% Added +12.7k +12,690
48 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 195,572195.6k $18.6m $18.6m 0.01% First filing
49 Chandler Asset Management, Inc. 3.43% of their portfolio SAN DIEGO, CA 190,791190.8k $18.2m $18.2m 3.43% Added +85 +85
50 TOWNSQUARE CAPITAL LLC 0.19% of their portfolio Lehi, UT 186,277186.3k $17.8m $17.8m 0.19% Reduced -11.5k -11,473
51 Rafferty Asset Management, LLC 0.07% of their portfolio New York, NY 183,675183.7k $17.5m $17.5m 0.07% Reduced -8.6k -8,585
52 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 182,690182.7k $17.4m $17.4m 0.00% Reduced -82 -82
53 STRATEGIC INVESTMENT MANAGEMENT, LLC 6.99% of their portfolio ARLINGTON, VA 182,690182.7k $17.4m $17.4m 6.99% Unchanged
54 NewSquare Capital LLC 1.38% of their portfolio NEWTOWN SQUARE, PA 178,532178.5k $16.9m $16.9m 1.38% Reduced -1.3k -1,312
55 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 177,457177.5k $16.9m $16.9m 0.06% Added +21.0k +20,953
56 Apollon Wealth Management, LLC 0.36% of their portfolio MOUNT PLEASANT, SC 172,849172.8k $16.5m $16.5m 0.36% Added +75.8k +75,821
57 RFG Advisory, LLC 0.43% of their portfolio BIRMINGHAM, AL 166,646166.6k $15.9m $15.9m 0.43% Added +13.7k +13,671
58 BTS Asset Management, Inc. 17.66% of their portfolio Lincoln, MA 164,144164.1k $15.6m $15.6m 17.66% Reduced -18.7k -18,680
59 One Capital Management, LLC 0.52% of their portfolio WESTLAKE VILLAGE, CA 162,512162.5k $15.5m $15.5m 0.52% Added +3.0k +2,960
60 Logan Stone Capital, LLC 7.03% of their portfolio CHICAGO, IL 158,223158.2k $15.1m $15.1m 7.03% Reduced -107.0k -106,953
61 Prime Capital Investment Advisors, LLC 0.18% of their portfolio OVERLAND PARK, KS 158,030158.0k $15.1m $15.1m 0.18% Added +30.4k +30,432
62 Equitable Holdings, Inc. 0.12% of their portfolio NEW YORK, NY 137,507137.5k $13.1m $13.1m 0.12% Added +24.9k +24,883
63 GUGGENHEIM CAPITAL LLC 0.12% of their portfolio CHICAGO, IL 135,334135.3k $12.9m $12.9m 0.12% Reduced -12.3k -12,268
64 Idaho Trust Co 4.77% of their portfolio BOISE, ID 122,818122.8k $11.7m $11.7m 4.77% Added +6.8k +6,835
65 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 120,525120.5k $11.5m $11.5m 0.01% Added +107.8k +107,825
66 PARK AVENUE SECURITIES LLC 0.14% of their portfolio NEW YORK, NY 115,826115.8k $11.0m $11.0m 0.14% Reduced -41.3k -41,272
67 Cambridge Investment Research Advisors, Inc. 0.04% of their portfolio FAIRFIELD, IA 115,054115.1k $11.0m $11.0m 0.04% Added +59.4k +59,446
68 Jessup Wealth Management, Inc 4.61% of their portfolio DAYTON, OH 115,053115.1k $11.0m $11.0m 4.61% Added +2.2k +2,199
69 Apella Capital, LLC 0.36% of their portfolio WEST HARTFORD, CT 112,138112.1k $10.5m $10.5m 0.36% Reduced -32.2k -32,233
70 FSA WEALTH PARTNERS, INC. 3.91% of their portfolio Rockville, MD 108,437108.4k $10.3m $10.3m 3.91% Added +1.0k +1,040
71 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 100,723100.7k $9.6m $9.6m 0.01% Added +5.4k +5,418
72 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 100,382100.4k $9.6m $9.6m 0.01% Reduced -339.4k -339,415
73 Shilanski & Associates, Inc. 2.92% of their portfolio ANCHORAGE, AK 98,12698.1k $9.4m $9.4m 2.92% Added +4.5k +4,507
74 Symmetry Partners, LLC 1.29% of their portfolio GLASTONBURY, CT 97,03997.0k $9.2m $9.2m 1.29% Added +6.4k +6,377
75 Altura Wealth Advisors Inc. 6.08% of their portfolio SANTA CLARA, CA 96,25296.3k $9.2m $9.2m 6.08% Added +13.2k +13,198
76 Estate Counselors, LLC 0.94% of their portfolio Thiensville, WI 94,84694.8k $9.0m $9.0m 0.94% Added +10.6k +10,555
77 CAPSTONE INVESTMENT ADVISORS, LLC 0.08% of their portfolio NEW YORK, NY 93,40193.4k $8.9m $8.9m 0.08% New
78 NORDEN GROUP LLC 0.99% of their portfolio PROVO, UT 90,16090.2k $8.6m $8.6m 0.99% Reduced -7.7k -7,735
79 Sound Income Strategies, LLC 0.51% of their portfolio FT LAUDERDALE, FL 90,03390.0k $8.6m $8.6m 0.51% Reduced -1.2k -1,154
80 Advisors Preferred, LLC 1.14% of their portfolio ROCKVILLE, MD 89,34389.3k $8.5m $8.5m 1.14% Reduced -30.1k -30,060
81 Sequoia Financial Advisors, LLC 0.06% of their portfolio Akron, OH 86,07486.1k $8.2m $8.2m 0.06% Reduced -40.1k -40,125
82 Prospera Financial Services Inc 0.18% of their portfolio Dallas, TX 80,21680.2k $7.6m $7.6m 0.18% Added +5.7k +5,743
83 Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio SEOUL, M5 79,00079.0k $7.5m $7.5m 0.03% Added +1.0k +1,000
84 Private Advisor Group, LLC 0.04% of their portfolio MORRISTOWN, NJ 77,25277.3k $7.4m $7.4m 0.04% Added +11.8k +11,849
85 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 75,50075.5k $7.2m $7.2m 0.01% Reduced -158.2k -158,200
86 BENJAMIN EDWARDS INC 0.10% of their portfolio Clayton, MO 75,13075.1k $7.2m $7.2m 0.10% Added +1.6k +1,583
87 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 73,60573.6k $7.0m $7.0m 0.01% New
88 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 73,18773.2k $7.0m $7.0m 0.01% Added +7.6k +7,582
89 MILESTONE ASSET MANAGEMENT, LLC 1.48% of their portfolio PITTSBURGH, PA 72,82072.8k $6.9m $6.9m 1.48% Added +52.6k +52,608
90 Dynasty Wealth Management, LLC 0.10% of their portfolio ST. PETERSBURG, FL 64,71464.7k $6.2m $6.2m 0.10% Added +536 +536
91 Quotient Wealth Partners, LLC 0.19% of their portfolio DALLAS, TX 63,42563.4k $6.0m $6.0m 0.19% Reduced -915 -915
92 IEQ CAPITAL, LLC 0.05% of their portfolio Foster City, CA 62,25162.3k $5.9m $5.9m 0.05% Reduced -6.5k -6,544
93 Kingsview Wealth Management, LLC 0.11% of their portfolio GRANTS PASS, OR 61,01161.0k $5.8m $5.8m 0.11% Reduced -3.1k -3,080
94 Vontobel Holding Ltd. 0.02% of their portfolio ZURICH, V8 60,90860.9k $5.8m $5.8m 0.02% Added +932 +932
95 IFG Advisory, LLC 0.32% of their portfolio ATLANTA, GA 60,53860.5k $5.8m $5.8m 0.32% Added +259 +259
96 Hibernia Wealth Partners, LLC 4.07% of their portfolio BATON ROUGE, LA 60,18360.2k $5.7m $5.7m 4.07% Added +31.5k +31,488
97 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 60,13360.1k $5.7m $5.7m 0.02% Reduced -2.2k -2,200
98 KFA Private Wealth Group, LLC 1.96% of their portfolio Tysons, VA 58,77558.8k $5.6m $5.6m 1.96% Added +4.3k +4,284
99 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 58,75658.8k $5.6m $5.6m 0.00% Added +7.1k +7,144
100 Baker Avenue Asset Management, LP 0.18% of their portfolio SAN FRANCISCO, CA 58,72458.7k $5.6m $5.6m 0.18% Added +28.1k +28,142