Vault-13

SPDR SER TR JNK

BLOOMBERG HIGH Y · ETP · CUSIP 78468R622

556 institutional holders -1 vs Q1 2025
75,871,93175.9m shares reported held*
$7.1bnreported value*
65 new 188 added 190 reduced 73 sold out net bought ≈ $168.9m (+4.4m 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 ($5.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $93.71. Options: 2 managers hold calls ($17.5m notional), 3 hold puts ($6.3m).

Trends to Q2 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: 557Q2 25: 556556Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 2025556

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 220 bought or addedQ3 23: 240 cut or sold outQ4 23: 226 bought or addedQ4 23: 252 cut or sold outQ4 23Q1 24: 270 bought or addedQ1 24: 225 cut or sold outQ2 24: 243 bought or addedQ2 24: 257 cut or sold outQ2 24Q3 24: 227 bought or addedQ3 24: 263 cut or sold outQ4 24: 282 bought or addedQ4 24: 216 cut or sold outQ4 24Q1 25: 232 bought or addedQ1 25: 281 cut or sold outQ2 25: 253 bought or addedQ2 25: 263 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023220240
Q4 2023226252
Q1 2024270225
Q2 2024243257
Q3 2024227263
Q4 2024282216
Q1 2025232281
Q2 2025253263

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ3 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 0.55Q2 25 calls: $17.5mQ2 25 puts: $6.3mQ2 25P/C 0.36
Numbers
QuarterCallsPutsP/C
Q3 2024$19.5m$15.6m0.80
Q4 2024$4.8m$7.3m1.50
Q1 2025$6.0m$3.3m0.55
Q2 2025$17.5m$6.3m0.36

Biggest buyers

Gallagher Fiduciary Advisors, LLC Added +2,630,378+2.6m
STATE STREET CORP Added +1,842,852+1.8m
ROYAL BANK OF CANADA Added +1,279,970+1.3m
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp New +1,221,000+1.2m
OSAIC HOLDINGS, INC. Added +751,499+751.5k
MORGAN STANLEY Added +688,901+688.9k
RENAISSANCE TECHNOLOGIES LLC Added +686,500+686.5k
TOEWS CORP /ADV New +531,500+531.5k
Quadrature Capital Ltd New +372,848+372.8k
Capitolis Liquid Global Markets LLC New +335,900+335.9k

Biggest sellers

Clark Capital Management Group, Inc. Reduced -2,026,960-2.0m
Mitsubishi UFJ Asset Management Co., Ltd. Reduced -1,560,750-1.6m
Varma Mutual Pension Insurance Co Sold out -1,100,000-1.1m
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -309,806-309.8k
Bank of New York Mellon Corp Reduced -298,731-298.7k
LOOMIS SAYLES & CO L P Sold out -290,131-290.1k
Police & Firemen's Retirement System of New Jersey Sold out -268,101-268.1k
Thrivent Financial for Lutherans Reduced -238,961-239.0k
ALLSTATE CORP Sold out -210,000-210.0k
Migdal Insurance & Financial Holdings Ltd. Reduced -196,238-196.2k

Biggest calls

CITADEL ADVISORS LLC Added $17.2m176.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $321.0k3.3k shares

Biggest puts

JANE STREET GROUP, LLC Added $4.6m47.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.1m11.5k shares
CITADEL ADVISORS LLC Reduced $593.3k6.1k 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 STATE STREET CORP 0.04% of their portfolio BOSTON, MA 11,085,68311.1m $1.1bn $1.1bn 0.04% Added +1.8m +1,842,852
2 ASSETMARK, INC 1.16% of their portfolio CONCORD, CA 5,066,0205.1m $492.8m $492.8m 1.16% Added +309.6k +309,551
3 WELLS FARGO & COMPANY/MN 0.11% of their portfolio SAN FRANCISCO, CA 4,924,6874.9m $479.0m $479.0m 0.11% Added +182.7k +182,679
4 Ocean Park Asset Management, LLC 15.28% of their portfolio SANTA MONICA, CA 4,519,6154.5m $430.7m $430.7m 15.28% Unchanged
5 Clark Capital Management Group, Inc. 2.31% of their portfolio PHILADELPHIA, PA 3,422,8703.4m $332.9m $332.9m 2.31% Reduced -2.0m -2,026,960
6 Japan Science & Technology Agency 4.48% of their portfolio TOKYO, M0 2,900,0002.9m $282.1m $282.1m 4.48% Unchanged
7 ENVESTNET ASSET MANAGEMENT INC 0.08% of their portfolio Berwyn, PA 2,746,2732.7m $266.7m $266.7m 0.08% Reduced -166.8k -166,765
8 Gallagher Fiduciary Advisors, LLC 0.00% of their portfolio ROLLING MEADOWS, IL 2,657,4932.7m $36.3k $36.3k 0.00% Added +2.6m +2,630,378
9 Mitsubishi UFJ Asset Management Co., Ltd. 0.17% of their portfolio TOKYO, M0 2,162,9052.2m $209.5m $209.5m 0.17% Reduced -1.6m -1,560,750
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,831,9371.8m $178.2m $178.2m 0.00% Added +995 +995
11 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,691,2541.7m $164.5m $164.5m 0.02% Added +1.3m +1,279,970
12 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,606,9361.6m $156.3m $156.3m 0.01% Added +688.9k +688,901
13 Thrivent Financial for Lutherans 0.28% of their portfolio Minneapolis, MN 1,306,8641.3m $127.1m $127.1m 0.28% Reduced -239.0k -238,961
14 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,291,9031.3m $125.7m $125.7m 0.02% Added +294.2k +294,177
15 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 1,288,9261.3m $125.4m $125.4m 0.04% Added +174.9k +174,938
16 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.69% of their portfolio VICTORIA, A1 1,221,0001.2m $118.8m $118.8m 0.69% New
17 Man Group plc 0.23% of their portfolio LONDON, X0 1,111,5021.1m $108.1m $108.1m 0.23% Added +219.1k +219,125
18 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,111,4311.1m $108.1m $108.1m 0.02% Reduced -298.7k -298,731
19 OSAIC HOLDINGS, INC. 0.19% of their portfolio SCOTTSDALE, AZ 1,095,7361.1m $104.9m $104.9m 0.19% Added +751.5k +751,499
20 BNP PARIBAS FINANCIAL MARKETS 0.08% of their portfolio PARIS, I0 1,017,8701.0m $99.0m $99.0m 0.08% Added +264.2k +264,179
21 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,002,2391.0m $97.5m $97.5m 0.02% Reduced -17.3k -17,324
22 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.74% of their portfolio IRVING, TX 938,536938.5k $91.3m $91.3m 0.74% Reduced -156.2k -156,183
23 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 842,321842.3k $81.9m $81.9m 0.05% Added +190.8k +190,847
24 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 781,398781.4k $76.0m $76.0m 0.01% Reduced -44.0k -44,030
25 RENAISSANCE TECHNOLOGIES LLC 0.09% of their portfolio NEW YORK, NY 727,800727.8k $70.8m $70.8m 0.09% Added +686.5k +686,500
26 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 602,009602.0k $58.6m $58.6m 0.00% Added +54.2k +54,208
27 TOEWS CORP /ADV 7.52% of their portfolio NORTHFIELD, NJ 531,500531.5k $51.7m $51.7m 7.52% New
28 Counterpoint Mutual Funds LLC 4.07% of their portfolio San Diego, CA 472,367472.4k $45.9m $45.9m 4.07% Added +102.9k +102,876
29 Sumitomo Mitsui DS Asset Management Company, Ltd 0.40% of their portfolio TOKYO, M0 454,302454.3k $44.2m $44.2m 0.40% Reduced -119.4k -119,351
30 BLB&B Advisors, LLC 1.91% of their portfolio MONTGOMERYVILLE, PA 420,848420.8k $40.9m $40.9m 1.91% Added +10.8k +10,805
31 UBS Group AG 0.01% of their portfolio ZURICH, V8 399,766399.8k $38.9m $38.9m 0.01% Reduced -18.8k -18,770
32 Aristotle Pacific Capital, LLC 18.64% of their portfolio NEWPORT BEACH, CA 399,502399.5k $38.9m $38.9m 18.64% Reduced -136.4k -136,407
33 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio Toronto, A6 384,656384.7k $37.4m $37.4m 0.03% Added +13.5k +13,500
34 Bank Julius Baer & Co. Ltd, Zurich 0.11% of their portfolio ZURICH, V8 384,025384.0k $37.4m $37.4m 0.11% Unchanged
35 Quadrature Capital Ltd 0.62% of their portfolio LONDON, X0 372,848372.8k $36.3m $36.3m 0.62% New
36 Nan Shan Life Insurance Co., Ltd. 0.73% of their portfolio Taipei City, F5 337,566337.6k $32.8m $32.8m 0.73% Unchanged
37 Capitolis Liquid Global Markets LLC 0.24% of their portfolio NEW YORK, NY 335,900335.9k $32.7m $32.7m 0.24% New
38 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 300,667300.7k $29.2m $29.2m 0.05% Reduced -10.5k -10,453
39 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 296,837296.8k $28.9m $28.9m 0.02% Reduced -9.9k -9,904
40 Migdal Insurance & Financial Holdings Ltd. 0.17% of their portfolio Petach Tikva, L3 291,136291.1k $28.3m $28.3m 0.17% Reduced -196.2k -196,238
41 Envestnet Portfolio Solutions, Inc. 0.10% of their portfolio BERWYN, PA 286,860286.9k $27.9m $27.9m 0.10% Added +77.7k +77,727
42 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 255,459255.5k $24.8m $24.8m 0.02% Added +213.9k +213,936
43 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 254,166254.2k $24.7m $24.7m 0.01% Reduced -71.0k -70,968
44 Howard Capital Management, LLC 0.36% of their portfolio Alpharetta, GA 248,368248.4k $24.2m $24.2m 0.36% New
45 Checchi Capital Advisers, LLC 1.65% of their portfolio BEVERLY HILLS, CA 243,634243.6k $23.7m $23.7m 1.65% Added +2.3k +2,343
46 Allianz Asset Management GmbH 0.03% of their portfolio MUNICH, 2M 225,800225.8k $22.0m $22.0m 0.03% New
47 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 223,000223.0k $21.7m $21.7m 0.01% Added +202.0k +202,000
48 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 218,550218.6k $21.3m $21.3m 0.01% Unchanged
49 Gerber Kawasaki Wealth & Investment Management 0.78% of their portfolio SANTA MONICA, CA 206,451206.5k $20.1m $20.1m 0.78% Added +8.8k +8,763
50 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 195,572195.6k $19.0m $19.0m 0.01% Unchanged
51 Chandler Asset Management, Inc. 3.31% of their portfolio SAN DIEGO, CA 191,536191.5k $18.6m $18.6m 3.31% Added +745 +745
52 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 187,232187.2k $18.2m $18.2m 0.05% Added +9.8k +9,775
53 NewSquare Capital LLC 1.32% of their portfolio NEWTOWN SQUARE, PA 183,457183.5k $17.7m $17.7m 1.32% Added +4.9k +4,925
54 POTOMAC FUND MANAGEMENT INC /ADV 0.97% of their portfolio BETHESDA, MD 174,648174.6k $17.0m $17.0m 0.97% New
55 Equitable Holdings, Inc. 0.12% of their portfolio NEW YORK, NY 152,581152.6k $14.8m $14.8m 0.12% Added +15.1k +15,074
56 EXCHANGE TRADED CONCEPTS, LLC 0.17% of their portfolio Oklahoma City, OK 140,579140.6k $13.7m $13.7m 0.17% New
57 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 139,990140.0k $13.6m $13.6m 0.02% Reduced -86.4k -86,428
58 Crabel Capital Management, LLC 8.31% of their portfolio MILWAUKEE, WI 139,561139.6k $13.6m $13.6m 8.31% Added +94.7k +94,722
59 GUGGENHEIM CAPITAL LLC 0.11% of their portfolio CHICAGO, IL 138,508138.5k $13.5m $13.5m 0.11% Added +3.2k +3,174
60 PARK AVENUE SECURITIES LLC 0.11% of their portfolio NEW YORK, NY 126,737126.7k $12.3m $12.3m 0.11% Added +10.9k +10,911
61 Prime Capital Investment Advisors, LLC 0.16% of their portfolio OVERLAND PARK, KS 121,322121.3k $11.8m $11.8m 0.16% Reduced -36.7k -36,708
62 Hibernia Wealth Partners, LLC 4.26% of their portfolio BATON ROUGE, LA 120,061120.1k $11.7m $11.7m 4.26% Added +59.9k +59,878
63 Idaho Trust Co 4.13% of their portfolio BOISE, ID 118,776118.8k $11.6m $11.6m 4.13% Reduced -4.0k -4,042
64 Symmetry Partners, LLC 1.38% of their portfolio GLASTONBURY, CT 115,678115.7k $11.3m $11.3m 1.38% Added +18.6k +18,639
65 CAPSTONE INVESTMENT ADVISORS, LLC 0.10% of their portfolio NEW YORK, NY 114,801114.8k $11.2m $11.2m 0.10% Added +21.4k +21,400
66 Jessup Wealth Management, Inc 4.33% of their portfolio DAYTON, OH 110,980111.0k $10.8m $10.8m 4.33% Reduced -4.1k -4,073
67 CNO Financial Group, Inc. 6.34% of their portfolio Carmel, IN 105,500105.5k $10.3m $10.3m 6.34% New
68 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 101,500101.5k $9.9m $9.9m 0.00% Reduced -19.0k -19,025
69 Shilanski & Associates, Inc. 2.80% of their portfolio ANCHORAGE, AK 100,853100.9k $9.8m $9.8m 2.80% Added +2.7k +2,727
70 MEEDER ASSET MANAGEMENT INC 0.59% of their portfolio DUBLIN, OH 99,23899.2k $9.7m $9.7m 0.59% New
71 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 98,37098.4k $9.6m $9.6m 0.01% Reduced -309.8k -309,806
72 Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio SEOUL, M5 98,00098.0k $9.5m $9.5m 0.03% Added +19.0k +19,000
73 Apella Capital, LLC 0.25% of their portfolio WEST HARTFORD, CT 95,22395.2k $9.2m $9.2m 0.25% Reduced -16.9k -16,915
74 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 93,66493.7k $9.1m $9.1m 0.03% Reduced -21.4k -21,390
75 Somnio Financial Group, LLC 6.37% of their portfolio GLASTONBURY, CT 91,57491.6k $8.9m $8.9m 6.37% First filing
76 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 91,43391.4k $8.9m $8.9m 0.02% Added +31.3k +31,300
77 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 87,78087.8k $8.5m $8.5m 0.01% New
78 Kestra Advisory Services, LLC 0.04% of their portfolio AUSTIN, TX 87,23187.2k $8.5m $8.5m 0.04% Reduced -145.0k -144,988
79 Altura Wealth Advisors Inc. 4.60% of their portfolio SANTA CLARA, CA 84,49084.5k $8.2m $8.2m 4.60% Reduced -11.8k -11,762
80 Prospera Financial Services Inc 0.15% of their portfolio Dallas, TX 84,39984.4k $8.2m $8.2m 0.15% Added +4.2k +4,183
81 ROVIN CAPITAL /UT/ /ADV 2.26% of their portfolio MESA, AZ 76,69276.7k $7.5m $7.5m 2.26% Added +73.7k +73,703
82 BENJAMIN EDWARDS INC 0.09% of their portfolio Clayton, MO 74,46574.5k $7.2m $7.2m 0.09% Reduced -665 -665
83 NewEdge Advisors, LLC 0.04% of their portfolio NEW ORLEANS, LA 71,83171.8k $7.0m $7.0m 0.04% Added +15.5k +15,491
84 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 68,29168.3k $6.6m $6.6m 0.00% Reduced -114.4k -114,399
85 STRATEGIC INVESTMENT MANAGEMENT, LLC 3.56% of their portfolio ARLINGTON, VA 68,28068.3k $6.6m $6.6m 3.56% Reduced -114.4k -114,410
86 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 65,00065.0k $6.3m $6.3m 0.01% Reduced -10.5k -10,500
87 Quotient Wealth Partners, LLC 0.19% of their portfolio DALLAS, TX 64,69264.7k $6.3m $6.3m 0.19% Added +1.3k +1,267
88 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 63,47563.5k $6.2m $6.2m 0.03% Reduced -13.8k -13,777
89 IEQ CAPITAL, LLC 0.04% of their portfolio Foster City, CA 62,96363.0k $6.1m $6.1m 0.04% Added +712 +712
90 IFG Advisory, LLC 0.30% of their portfolio ATLANTA, GA 62,39262.4k $6.1m $6.1m 0.30% Added +1.9k +1,854
91 Dynasty Wealth Management, LLC 0.10% of their portfolio ST. PETERSBURG, FL 61,89461.9k $6.0m $6.0m 0.10% Reduced -2.8k -2,820
92 Sound Income Strategies, LLC 0.34% of their portfolio FT LAUDERDALE, FL 60,78960.8k $5.9m $5.9m 0.34% Reduced -29.2k -29,244
93 Kingsview Wealth Management, LLC 0.10% of their portfolio GRANTS PASS, OR 60,34460.3k $5.9m $5.9m 0.10% Reduced -667 -667
94 Hilltop Holdings Inc. 0.37% of their portfolio DALLAS, TX 59,42259.4k $5.8m $5.8m 0.37% Added +31.6k +31,579
95 Jefferies Financial Group Inc. 0.09% of their portfolio NEW YORK, NY 58,51358.5k $5.7m $5.7m 0.09% Added +519 +519
96 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 57,77557.8k $5.6m $5.6m 0.00% Added +2.3k +2,344
97 CoreCap Advisors, LLC 0.22% of their portfolio SOUTHFIELD, MI 57,10257.1k $5.6m $5.6m 0.22% Reduced -1.5k -1,478
98 Csenge Advisory Group 0.29% of their portfolio CLEARWATER, FL 56,76856.8k $5.4m $5.4m 0.29% Added +42.4k +42,423
99 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 56,66556.7k $5.5m $5.5m 0.00% Added +14.4k +14,371
100 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 55,73355.7k $5.4m $5.4m 0.01% Reduced -2.1k -2,111