Vault-13

SPDR SER TR JNK

BLOOMBERG HIGH Y · ETP · CUSIP 78468R622

541 institutional holders -15 vs Q2 2025
73,855,15973.9m shares reported held*
$7.2bnreported value*
41 new 229 added 157 reduced 49 sold out net bought ≈ $74.6m (-1.9m 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 ($12.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $97.98. Options: 4 managers hold calls ($12.1m notional), 2 hold puts ($6.7m).

Trends to Q3 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: 556Q3 25: 541541Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025541

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 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 25Q2 25: 253 bought or addedQ2 25: 263 cut or sold outQ3 25: 270 bought or addedQ3 25: 206 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023226252
Q1 2024270225
Q2 2024243257
Q3 2024227263
Q4 2024282216
Q1 2025232281
Q2 2025253263
Q3 2025270206

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ4 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 0.36Q3 25 calls: $12.1mQ3 25 puts: $6.7mQ3 25P/C 0.55
Numbers
QuarterCallsPutsP/C
Q4 2024$4.8m$7.3m1.50
Q1 2025$6.0m$3.3m0.55
Q2 2025$17.5m$6.3m0.36
Q3 2025$12.1m$6.7m0.55

Biggest buyers

JPMORGAN CHASE & CO Added +2,332,255+2.3m
STATE STREET CORP Added +1,577,119+1.6m
ALLSTATE CORP New +1,033,000+1.0m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +498,512+498.5k
ASSETMARK, INC Added +414,165+414.2k
WELLS FARGO & COMPANY/MN Added +297,327+297.3k
LPL Financial LLC Added +213,390+213.4k
Envestnet Portfolio Solutions, Inc. Added +152,790+152.8k
Gerber Kawasaki Wealth & Investment Management Added +124,977+125.0k
Counterpoint Mutual Funds LLC Added +105,588+105.6k

Biggest sellers

Gallagher Fiduciary Advisors, LLC Sold out -2,657,493-2.7m
Ocean Park Asset Management, LLC Reduced -2,429,091-2.4m
ROYAL BANK OF CANADA Reduced -1,322,046-1.3m
MORGAN STANLEY Reduced -773,855-773.9k
RENAISSANCE TECHNOLOGIES LLC Reduced -674,200-674.2k
Quadrature Capital Ltd Sold out -372,848-372.8k
Nuveen, LLC Sold out -195,572-195.6k
PNC Financial Services Group, Inc. Reduced -193,263-193.3k
Mitsubishi UFJ Asset Management Co., Ltd. Reduced -191,290-191.3k
Migdal Insurance & Financial Holdings Ltd. Reduced -159,038-159.0k

Biggest calls

Point72 Asset Management, L.P. New $10.6m107.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $862.3k8.8k shares
CITADEL ADVISORS LLC Reduced $411.6k4.2k shares
WOLVERINE TRADING, LLC New $304.0k3.1k shares

Biggest puts

Point72 Asset Management, L.P. New $5.9m60.0k shares
CITADEL ADVISORS LLC Added $783.9k8.0k 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 STATE STREET CORP 0.04% of their portfolio BOSTON, MA 12,662,80212.7m $1.2bn $1.2bn 0.04% Added +1.6m +1,577,119
2 ASSETMARK, INC 1.15% of their portfolio CONCORD, CA 5,480,1855.5m $537.0m $537.0m 1.15% Added +414.2k +414,165
3 WELLS FARGO & COMPANY/MN 0.10% of their portfolio SAN FRANCISCO, CA 5,222,0145.2m $511.7m $511.7m 0.10% Added +297.3k +297,327
4 Clark Capital Management Group, Inc. 2.14% of their portfolio PHILADELPHIA, PA 3,484,3843.5m $341.4m $341.4m 2.14% Added +61.5k +61,514
5 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,934,2642.9m $287.5m $287.5m 0.01% Added +2.3m +2,332,255
6 Japan Science & Technology Agency 5.06% of their portfolio TOKYO, M0 2,900,0002.9m $284.2m $284.2m 5.06% Unchanged
7 ENVESTNET ASSET MANAGEMENT INC 0.08% of their portfolio Berwyn, PA 2,826,5982.8m $277.0m $277.0m 0.08% Added +80.3k +80,325
8 Ocean Park Asset Management, LLC 8.44% of their portfolio SANTA MONICA, CA 2,090,5242.1m $204.9m $204.9m 8.44% Reduced -2.4m -2,429,091
9 Mitsubishi UFJ Asset Management Co., Ltd. 0.14% of their portfolio TOKYO, M0 1,971,6152.0m $192.8m $192.8m 0.14% Reduced -191.3k -191,290
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,798,0431.8m $176.2m $176.2m 0.00% Reduced -33.9k -33,894
11 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 1,502,3161.5m $147.2m $147.2m 0.04% Added +213.4k +213,390
12 Thrivent Financial for Lutherans 0.25% of their portfolio Minneapolis, MN 1,278,2831.3m $124.6m $124.6m 0.25% Reduced -28.6k -28,581
13 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.69% of their portfolio VICTORIA, A1 1,221,0001.2m $119.6m $119.6m 0.69% Unchanged
14 Man Group plc 0.23% of their portfolio LONDON, X0 1,195,2641.2m $117.1m $117.1m 0.23% Added +83.8k +83,762
15 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,166,6241.2m $114.3m $114.3m 0.02% Reduced -125.3k -125,279
16 OSAIC HOLDINGS, INC. 0.16% of their portfolio SCOTTSDALE, AZ 1,158,0671.2m $113.4m $113.4m 0.16% Added +62.3k +62,331
17 ALLSTATE CORP 2.31% of their portfolio NORTHBROOK, IL 1,033,0001.0m $101.2m $101.2m 2.31% New
18 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,017,1541.0m $99.7m $99.7m 0.02% Reduced -94.3k -94,277
19 BNP PARIBAS FINANCIAL MARKETS 0.08% of their portfolio PARIS, I0 1,011,2761.0m $99.1m $99.1m 0.08% Reduced -6.6k -6,594
20 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 997,875997.9k $97.8m $97.8m 0.02% Reduced -4.4k -4,364
21 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.07% of their portfolio Toronto, A6 883,168883.2k $86.5m $86.5m 0.07% Added +498.5k +498,512
22 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 833,081833.1k $81.6m $81.6m 0.00% Reduced -773.9k -773,855
23 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.57% of their portfolio IRVING, TX 803,328803.3k $78.7m $78.7m 0.57% Reduced -135.2k -135,208
24 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 736,252736.3k $72.1m $72.1m 0.01% Reduced -45.1k -45,146
25 PNC Financial Services Group, Inc. 0.04% of their portfolio Pittsburgh, PA 649,058649.1k $63.6m $63.6m 0.04% Reduced -193.3k -193,263
26 Counterpoint Mutual Funds LLC 4.47% of their portfolio San Diego, CA 577,955578.0k $56.6m $56.6m 4.47% Added +105.6k +105,588
27 Sumitomo Mitsui DS Asset Management Company, Ltd 0.42% of their portfolio TOKYO, M0 525,455525.5k $51.5m $51.5m 0.42% Added +71.2k +71,153
28 BLB&B Advisors, LLC 2.05% of their portfolio MONTGOMERYVILLE, PA 484,931484.9k $47.5m $47.5m 2.05% Added +64.1k +64,083
29 TOEWS CORP /ADV 6.78% of their portfolio NORTHFIELD, NJ 484,500484.5k $47.5m $47.5m 6.78% Reduced -47.0k -47,000
30 Envestnet Portfolio Solutions, Inc. 0.16% of their portfolio BERWYN, PA 439,650439.6k $43.1m $43.1m 0.16% Added +152.8k +152,790
31 UBS Group AG 0.01% of their portfolio ZURICH, V8 414,509414.5k $40.6m $40.6m 0.01% Added +14.7k +14,743
32 Bank Julius Baer & Co. Ltd, Zurich 0.11% of their portfolio ZURICH, V8 400,813400.8k $39.3m $39.3m 0.11% Added +16.8k +16,788
33 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 369,208369.2k $36.2m $36.2m 0.01% Reduced -1.3m -1,322,046
34 Nan Shan Life Insurance Co., Ltd. 0.70% of their portfolio Taipei City, F5 337,566337.6k $33.1m $33.1m 0.70% Unchanged
35 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 334,577334.6k $32.8m $32.8m 0.04% Added +33.9k +33,910
36 Gerber Kawasaki Wealth & Investment Management 1.11% of their portfolio SANTA MONICA, CA 331,428331.4k $32.5m $32.5m 1.11% Added +125.0k +124,977
37 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 295,359295.4k $28.9m $28.9m 0.02% Reduced -1.5k -1,478
38 Capitolis Liquid Global Markets LLC 0.21% of their portfolio NEW YORK, NY 271,900271.9k $26.6m $26.6m 0.21% Reduced -64.0k -64,000
39 Checchi Capital Advisers, LLC 1.83% of their portfolio BEVERLY HILLS, CA 271,759271.8k $26.6m $26.6m 1.83% Added +28.1k +28,125
40 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 261,457261.5k $25.6m $25.6m 0.01% Added +42.9k +42,907
41 Chandler Asset Management, Inc. 4.18% of their portfolio SAN DIEGO, CA 260,196260.2k $25.5m $25.5m 4.18% Added +68.7k +68,660
42 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 250,823250.8k $24.6m $24.6m 0.01% Reduced -3.3k -3,343
43 Aristotle Pacific Capital, LLC 11.93% of their portfolio NEWPORT BEACH, CA 250,000250.0k $24.5m $24.5m 11.93% Reduced -149.5k -149,502
44 Howard Capital Management, LLC 0.32% of their portfolio Alpharetta, GA 248,368248.4k $24.3m $24.3m 0.32% Unchanged
45 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 244,093244.1k $23.9m $23.9m 0.02% Reduced -11.4k -11,366
46 Allianz Asset Management GmbH 0.03% of their portfolio MUNICH, 2M 225,800225.8k $22.1m $22.1m 0.03% Unchanged
47 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 223,000223.0k $21.9m $21.9m 0.01% Unchanged
48 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 204,715204.7k $20.1m $20.1m 0.05% Added +17.5k +17,483
49 POTOMAC FUND MANAGEMENT INC /ADV 0.84% of their portfolio BETHESDA, MD 201,975202.0k $19.8m $19.8m 0.84% Added +27.3k +27,327
50 NewSquare Capital LLC 1.23% of their portfolio NEWTOWN SQUARE, PA 184,798184.8k $18.1m $18.1m 1.23% Added +1.3k +1,341
51 EXCHANGE TRADED CONCEPTS, LLC 0.16% of their portfolio Oklahoma City, OK 176,367176.4k $17.3m $17.3m 0.16% Added +35.8k +35,788
52 Equitable Holdings, Inc. 0.12% of their portfolio NEW YORK, NY 164,741164.7k $16.1m $16.1m 0.12% Added +12.2k +12,160
53 ROVIN CAPITAL /UT/ /ADV 2.25% of their portfolio MESA, AZ 159,446159.4k $15.6m $15.6m 2.25% Added +82.8k +82,754
54 PARK AVENUE SECURITIES LLC 0.12% of their portfolio NEW YORK, NY 157,620157.6k $15.4m $15.4m 0.12% Added +30.9k +30,883
55 CNO Financial Group, Inc. 10.23% of their portfolio Carmel, IN 157,200157.2k $15.4m $15.4m 10.23% Added +51.7k +51,700
56 Idaho Trust Co 4.63% of their portfolio BOISE, ID 140,319140.3k $13.7m $13.7m 4.63% Added +21.5k +21,543
57 CAPSTONE INVESTMENT ADVISORS, LLC 0.12% of their portfolio NEW YORK, NY 139,201139.2k $13.6m $13.6m 0.12% Added +24.4k +24,400
58 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 138,274138.3k $13.5m $13.5m 0.02% Reduced -1.7k -1,716
59 GUGGENHEIM CAPITAL LLC 0.10% of their portfolio CHICAGO, IL 137,141137.1k $13.4m $13.4m 0.10% Reduced -1.4k -1,367
60 Migdal Insurance & Financial Holdings Ltd. 0.14% of their portfolio Petach Tikva, L3 132,098132.1k $12.9m $12.9m 0.14% Reduced -159.0k -159,038
61 Jessup Wealth Management, Inc 4.59% of their portfolio DAYTON, OH 125,704125.7k $12.3m $12.3m 4.59% Added +14.7k +14,724
62 Prime Capital Investment Advisors, LLC 0.15% of their portfolio OVERLAND PARK, KS 123,567123.6k $12.1m $12.1m 0.15% Added +2.2k +2,245
63 Symmetry Partners, LLC 1.29% of their portfolio GLASTONBURY, CT 120,969121.0k $11.9m $11.9m 1.29% Added +5.3k +5,291
64 Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio SEOUL, M5 113,000113.0k $11.1m $11.1m 0.03% Added +15.0k +15,000
65 Shilanski & Associates, Inc. 2.78% of their portfolio ANCHORAGE, AK 106,917106.9k $10.5m $10.5m 2.78% Added +6.1k +6,064
66 Crabel Capital Management, LLC 9.33% of their portfolio MILWAUKEE, WI 106,320106.3k $10.4m $10.4m 9.33% Reduced -33.2k -33,241
67 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 103,758103.8k $10.2m $10.2m 0.00% Added +46.0k +45,983
68 Berkshire Money Management, Inc. 1.03% of their portfolio DALTON, MA 102,330102.3k $10.0m $10.0m 1.03% Added +93.9k +93,870
69 Aspire Private Capital, LLC 1.12% of their portfolio Cornelius, NC 101,591101.6k $9.9m $9.9m 1.12% Added +62.7k +62,711
70 Altura Wealth Advisors Inc. 4.60% of their portfolio SANTA CLARA, CA 98,51698.5k $9.7m $9.7m 4.60% Added +14.0k +14,026
71 Kestra Advisory Services, LLC 0.04% of their portfolio AUSTIN, TX 98,40398.4k $9.6m $9.6m 0.04% Added +11.2k +11,172
72 Somnio Financial Group, LLC 6.27% of their portfolio GLASTONBURY, CT 94,36794.4k $9.2m $9.2m 6.27% Added +2.8k +2,793
73 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 93,30093.3k $9.1m $9.1m 0.00% Reduced -8.2k -8,200
74 NewEdge Advisors, LLC 0.04% of their portfolio NEW ORLEANS, LA 88,83988.8k $8.7m $8.7m 0.04% Added +17.0k +17,008
75 Prospera Financial Services Inc 0.15% of their portfolio Dallas, TX 88,06088.1k $8.6m $8.6m 0.15% Added +3.7k +3,661
76 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 83,47483.5k $8.2m $8.2m 0.02% Reduced -10.2k -10,190
77 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 82,93382.9k $8.1m $8.1m 0.02% Reduced -8.5k -8,500
78 OLD MISSION CAPITAL LLC 0.29% of their portfolio CHICAGO, IL 82,43782.4k $8.1m $8.1m 0.29% Added +33.2k +33,249
79 Apella Capital, LLC 0.17% of their portfolio WEST HARTFORD, CT 80,81080.8k $7.8m $7.8m 0.17% Reduced -14.4k -14,413
80 STRATEGIC INVESTMENT MANAGEMENT, LLC 4.23% of their portfolio ARLINGTON, VA 79,82079.8k $7.8m $7.8m 4.23% Added +11.5k +11,540
81 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 78,59978.6k $7.7m $7.7m 0.01% Reduced -19.8k -19,771
82 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 75,01675.0k $7.4m $7.4m 0.01% Added +39.3k +39,338
83 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 74,00074.0k $7.3m $7.3m 0.01% Added +9.0k +9,000
84 BENJAMIN EDWARDS INC 0.08% of their portfolio Clayton, MO 72,39072.4k $7.1m $7.1m 0.08% Reduced -2.1k -2,075
85 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 71,81871.8k $7.0m $7.0m 0.00% Added +70.8k +70,759
86 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 69,49069.5k $6.8m $6.8m 0.01% Reduced -18.3k -18,290
87 Dynasty Wealth Management, LLC 0.09% of their portfolio ST. PETERSBURG, FL 66,79866.8k $6.5m $6.5m 0.09% Added +4.9k +4,904
88 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 65,88765.9k $6.5m $6.5m 0.00% Added +9.2k +9,222
89 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 65,74265.7k $6.4m $6.4m 0.00% Added +12.1k +12,054
90 IFG Advisory, LLC 0.29% of their portfolio ATLANTA, GA 64,85664.9k $6.4m $6.4m 0.29% Added +2.5k +2,464
91 Quotient Wealth Partners, LLC 0.17% of their portfolio DALLAS, TX 64,78164.8k $6.3m $6.3m 0.17% Added +89 +89
92 Hibernia Wealth Partners, LLC 3.97% of their portfolio BATON ROUGE, LA 63,26763.3k $6.2m $6.2m 3.97% Reduced -56.8k -56,794
93 Austin Private Wealth, LLC 0.48% of their portfolio Austin, TX 63,03563.0k $6.2m $6.2m 0.48% Added +26.4k +26,377
94 PRINCIPAL SECURITIES, INC. 0.10% of their portfolio DES MOINES, IA 62,92662.9k $6.2m $6.2m 0.10% Added +7.2k +7,213
95 Pathstone Holdings, LLC 0.02% of their portfolio ENGLEWOOD, NJ 62,74162.7k $6.1m $6.1m 0.02% Added +54.0k +53,985
96 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 62,61662.6k $6.1m $6.1m 0.02% Added +41.2k +41,168
97 Kingsview Wealth Management, LLC 0.09% of their portfolio GRANTS PASS, OR 61,82861.8k $6.1m $6.1m 0.09% Added +1.5k +1,484
98 Navigation Wealth Management, Inc. 8.79% of their portfolio FORT COLLINS, CO 61,02461.0k $6.0m $6.0m 8.79% Added +46.0k +45,950
99 Farther Finance Advisors, LLC 0.09% of their portfolio SAN FRANCISCO, CA 60,18560.2k $5.9m $5.9m 0.09% Added +12.1k +12,123
100 Sound Income Strategies, LLC 0.32% of their portfolio FT LAUDERDALE, FL 59,86359.9k $5.8m $5.8m 0.32% Reduced -926 -926