Vault-13

SPDR SER TR JNK

BLOOMBERG HIGH Y · ETP · CUSIP 78468R622

550 institutional holders -16 vs Q4 2025
76,424,35476.4m shares reported held*
$7.0bnreported value*
57 new 202 added 188 reduced 69 sold out net bought ≈ $316.3m (+5.9m 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 ($4.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $92.00. Options: 1 managers hold calls ($1.1m notional), 3 hold puts ($4.5m).

Trends to Q1 2026

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: 541Q4 25: 566Q1 26: 550550Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q4 2025566
Q1 2026550

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 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 25Q4 25: 243 bought or addedQ4 25: 247 cut or sold outQ1 26: 259 bought or addedQ1 26: 257 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024243257
Q3 2024227263
Q4 2024282216
Q1 2025232281
Q2 2025253263
Q3 2025270206
Q4 2025243247
Q1 2026259257

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ2 25 calls: $17.5mQ2 25 puts: $6.3mQ2 25P/C 0.36Q3 25 calls: $12.1mQ3 25 puts: $6.7mQ3 25P/C 0.55Q4 25 calls: $13.3mQ4 25 puts: $14.2mQ4 25P/C 1.07Q1 26 calls: $1.1mQ1 26 puts: $4.5mQ1 26P/C 4.23
Numbers
QuarterCallsPutsP/C
Q2 2025$17.5m$6.3m0.36
Q3 2025$12.1m$6.7m0.55
Q4 2025$13.3m$14.2m1.07
Q1 2026$1.1m$4.5m4.23

Biggest buyers

MORGAN STANLEY Added +5,338,489+5.3m
Gallagher Fiduciary Advisors, LLC Added +2,927,188+2.9m
American Family Investments, Inc. Added +1,477,000+1.5m
Caisse de depot et placement du Quebec New +1,471,100+1.5m
TD Asset Management Inc Added +1,356,600+1.4m
MEEDER ASSET MANAGEMENT INC New +516,867+516.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +360,125+360.1k
Clark Capital Management Group, Inc. Added +290,000+290.0k
WELLS FARGO & COMPANY/MN Added +265,161+265.2k
ASSETMARK, INC Added +191,636+191.6k

Biggest sellers

NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC Sold out -1,800,000-1.8m
BlackRock, Inc. Reduced -1,707,674-1.7m
Man Group plc Reduced -933,181-933.2k
Counterpoint Mutual Funds LLC Reduced -551,981-552.0k
UNITED CAPITAL FINANCIAL ADVISORS, LLC Reduced -473,595-473.6k
MOULTON WEALTH MANAGEMENT, INC Sold out -396,498-396.5k
Aristotle Pacific Capital, LLC Reduced -339,407-339.4k
Nan Shan Life Insurance Co., Ltd. Sold out -337,566-337.6k
Gerber Kawasaki Wealth & Investment Management Reduced -333,474-333.5k
TOEWS CORP /ADV Sold out -329,000-329.0k

Biggest calls

CITADEL ADVISORS LLC Added $1.1m11.1k shares

Biggest puts

CITADEL ADVISORS LLC Added $2.7m28.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $928.5k9.7k shares
JANE STREET GROUP, LLC Added $880.6k9.2k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 STATE STREET CORP 0.04% of their portfolio BOSTON, MA 11,074,52011.1m $1.1bn $1.1bn 0.04% Reduced -109.1k -109,116
2 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 6,251,6766.3m $598.4m $598.4m 0.04% Added +5.3m +5,338,489
3 ASSETMARK, INC 1.15% of their portfolio CONCORD, CA 5,875,1225.9m $562.4m $562.4m 1.15% Added +191.6k +191,636
4 WELLS FARGO & COMPANY/MN 0.11% of their portfolio SAN FRANCISCO, CA 5,710,5145.7m $546.6m $546.6m 0.11% Added +265.2k +265,161
5 Clark Capital Management Group, Inc. 2.20% of their portfolio PHILADELPHIA, PA 3,730,2153.7m $357.1m $357.1m 2.20% Added +290.0k +290,000
6 American Family Investments, Inc. 8.97% of their portfolio MADISON, WI 3,565,0003.6m $341.2m $341.2m 8.97% Added +1.5m +1,477,000
7 Gallagher Fiduciary Advisors, LLC 0.00% of their portfolio ROLLING MEADOWS, IL 2,956,9893.0m $31.6k $31.6k 0.00% Added +2.9m +2,927,188
8 Japan Science & Technology Agency 5.77% of their portfolio TOKYO, M0 2,900,0002.9m $277.6m $277.6m 5.77% Unchanged
9 TD Asset Management Inc 0.17% of their portfolio Toronto, A6 2,180,4822.2m $208.7m $208.7m 0.17% Added +1.4m +1,356,600
10 Mitsubishi UFJ Asset Management Co., Ltd. 0.14% of their portfolio TOKYO, M0 2,162,1152.2m $206.8m $206.8m 0.14% Added +96.3k +96,300
11 Ocean Park Asset Management, LLC 10.54% of their portfolio SANTA MONICA, CA 1,906,4241.9m $182.5m $182.5m 10.54% Unchanged
12 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 1,821,4371.8m $174.3m $174.3m 0.05% Added +62.6k +62,622
13 Caisse de depot et placement du Quebec 0.23% of their portfolio Montreal, A8 1,471,1001.5m $140.8m $140.8m 0.23% New
14 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 1,465,3781.5m $140.3m $140.3m 0.04% Added +100.0k +99,965
15 Thrivent Financial for Lutherans 0.24% of their portfolio Minneapolis, MN 1,299,5581.3m $124.4m $124.4m 0.24% Added +2.1k +2,067
16 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.69% of their portfolio VICTORIA, A1 1,221,0001.2m $116.9m $116.9m 0.69% Unchanged
17 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,162,6771.2m $111.3m $111.3m 0.03% Added +173.1k +173,088
18 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 963,929963.9k $92.3m $92.3m 0.02% Reduced -45.0k -45,028
19 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 897,810897.8k $85.9m $85.9m 0.01% Reduced -264.2k -264,234
20 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 845,991846.0k $81.0m $81.0m 0.01% Added +97.5k +97,474
21 BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio PARIS, I0 808,140808.1k $77.4m $77.4m 0.05% Reduced -58.0k -57,955
22 PNC Financial Services Group, Inc. 0.04% of their portfolio Pittsburgh, PA 648,005648.0k $62.0m $62.0m 0.04% Reduced -10.6k -10,605
23 BLB&B Advisors, LLC 2.31% of their portfolio MONTGOMERYVILLE, PA 584,549584.5k $56.0m $56.0m 2.31% Added +34.4k +34,409
24 MEEDER ASSET MANAGEMENT INC 2.83% of their portfolio DUBLIN, OH 516,867516.9k $49.5m $49.5m 2.83% New
25 UBS Group AG 0.01% of their portfolio ZURICH, V8 452,228452.2k $43.3m $43.3m 0.01% Added +124.1k +124,108
26 Bank Julius Baer & Co. Ltd, Zurich 0.12% of their portfolio ZURICH, V8 422,267422.3k $40.4m $40.4m 0.12% Reduced -1.2k -1,237
27 Sumitomo Mitsui DS Asset Management Company, Ltd 0.32% of their portfolio TOKYO, M0 410,443410.4k $39.3m $39.3m 0.32% Reduced -53.8k -53,818
28 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 381,608381.6k $36.5m $36.5m 0.01% Added +62.7k +62,656
29 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 372,660372.7k $35.7m $35.7m 0.05% Added +360.1k +360,125
30 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 361,961362.0k $34.6m $34.6m 0.01% Added +82.8k +82,837
31 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 317,286317.3k $30.4m $30.4m 0.03% Reduced -10.1k -10,091
32 Checchi Capital Advisers, LLC 1.95% of their portfolio BEVERLY HILLS, CA 296,086296.1k $28.3m $28.3m 1.95% Added +15.6k +15,621
33 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 265,370265.4k $25.4m $25.4m 0.02% Reduced -304.7k -304,660
34 CNO Financial Group, Inc. 14.22% of their portfolio Carmel, IN 259,200259.2k $24.8m $24.8m 14.22% Added +51.0k +51,000
35 Howard Capital Management, LLC 0.40% of their portfolio Alpharetta, GA 258,568258.6k $24.8m $24.8m 0.40% Added +5.1k +5,100
36 Aristotle Pacific Capital, LLC 18.29% of their portfolio NEWPORT BEACH, CA 235,000235.0k $22.5m $22.5m 18.29% Reduced -339.4k -339,407
37 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 232,978233.0k $22.3m $22.3m 0.03% Added +58.0k +57,962
38 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 225,768225.8k $21.6m $21.6m 0.06% Added +3.9k +3,868
39 Envestnet Portfolio Solutions, Inc. 0.11% of their portfolio BERWYN, PA 205,335205.3k $19.7m $19.7m 0.11% Reduced -49.4k -49,418
40 EXCHANGE TRADED CONCEPTS, LLC 0.15% of their portfolio Oklahoma City, OK 202,796202.8k $19.4m $19.4m 0.15% Added +16.3k +16,329
41 Merit Financial Group, LLC 0.14% of their portfolio ALPHARETTA, GA 192,967193.0k $18.5m $18.5m 0.14% Added +188.6k +188,571
42 Berkshire Money Management, Inc. 1.69% of their portfolio DALTON, MA 172,651172.7k $16.5m $16.5m 1.69% Added +16.6k +16,594
43 Silverleafe Capital Partners, LLC 4.88% of their portfolio GERMANTOWN, TN 169,193169.2k $16.2m $16.2m 4.88% New
44 ARISTEIA CAPITAL, L.L.C. 0.35% of their portfolio GREENWICH, CT 160,130160.1k $15.3m $15.3m 0.35% New
45 Counterpoint Mutual Funds LLC 2.30% of their portfolio San Diego, CA 160,061160.1k $15.3m $15.3m 2.30% Reduced -552.0k -551,981
46 Mirae Asset Global Investments Co., Ltd. 0.04% of their portfolio SEOUL, M5 160,000160.0k $15.3m $15.3m 0.04% Reduced -20.0k -20,000
47 PARK AVENUE SECURITIES LLC 0.12% of their portfolio NEW YORK, NY 158,604158.6k $15.2m $15.2m 0.12% Added +17.7k +17,689
48 Man Group plc 0.03% of their portfolio LONDON, X0 156,090156.1k $14.9m $14.9m 0.03% Reduced -933.2k -933,181
49 GSA CAPITAL PARTNERS LLP 0.82% of their portfolio LONDON, X0 137,140137.1k $13.1m $13.1m 0.82% New
50 GUGGENHEIM CAPITAL LLC 0.10% of their portfolio CHICAGO, IL 136,801136.8k $13.1m $13.1m 0.10% Reduced -1.6k -1,628
51 Jessup Wealth Management, Inc 4.71% of their portfolio DAYTON, OH 134,783134.8k $12.9m $12.9m 4.71% Added +1.9k +1,850
52 Idaho Trust Co 4.15% of their portfolio BOISE, ID 133,442133.4k $12.8m $12.8m 4.15% Added +5.7k +5,665
53 Symmetry Partners, LLC 0.73% of their portfolio GLASTONBURY, CT 132,853132.9k $12.7m $12.7m 0.73% Added +6.3k +6,269
54 Hibernia Wealth Partners, LLC 3.76% of their portfolio BATON ROUGE, LA 132,824132.8k $12.7m $12.7m 3.76% Added +4.2k +4,164
55 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 131,586131.6k $12.6m $12.6m 0.03% Added +45.2k +45,180
56 NewSquare Capital LLC 1.06% of their portfolio NEWTOWN SQUARE, PA 127,591127.6k $12.2m $12.2m 1.06% Reduced -3.1k -3,096
57 CWM, LLC 0.03% of their portfolio OMAHA, NE 116,395116.4k $11.1m $11.1m 0.03% Added +4.6k +4,608
58 Prime Capital Investment Advisors, LLC 0.12% of their portfolio OVERLAND PARK, KS 112,525112.5k $10.8m $10.8m 0.12% Reduced -1.1k -1,126
59 Altura Wealth Advisors Inc. 4.65% of their portfolio SANTA CLARA, CA 111,333111.3k $10.7m $10.7m 4.65% Added +2.2k +2,237
60 ALLSTATE CORP 0.11% of their portfolio NORTHBROOK, IL 110,000110.0k $10.5m $10.5m 0.11% Unchanged
61 Somnio Financial Group, LLC 6.43% of their portfolio GLASTONBURY, CT 102,175102.2k $9.8m $9.8m 6.43% Added +3.5k +3,535
62 Equitable Holdings, Inc. 0.04% of their portfolio NEW YORK, NY 101,170101.2k $6.0m $6.0m 0.04% Reduced -35.0k -35,017
63 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 96,77396.8k $9.3m $9.3m 0.01% Reduced -84.9k -84,945
64 SONA ASSET MANAGEMENT (US) LLC 0.31% of their portfolio NEW YORK, NY 83,95084.0k $8.0m $8.0m 0.31% New
65 PRINCIPAL SECURITIES, INC. 0.12% of their portfolio DES MOINES, IA 82,38182.4k $7.9m $7.9m 0.12% Added +12.8k +12,801
66 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 81,43381.4k $7.8m $7.8m 0.02% Unchanged
67 STRATEGIC INVESTMENT MANAGEMENT, LLC 3.19% of their portfolio ARLINGTON, VA 79,82079.8k $7.6m $7.6m 3.19% Unchanged
68 Hilltop Holdings Inc. 0.69% of their portfolio DALLAS, TX 79,75479.8k $7.6m $7.6m 0.69% Added +15.7k +15,675
69 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 79,07579.1k $7.6m $7.6m 0.00% Added +4.9k +4,939
70 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 78,20078.2k $7.5m $7.5m 0.01% Reduced -94.8k -94,800
71 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 77,79077.8k $7.4m $7.4m 0.01% Added +8.3k +8,300
72 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 74,59974.6k $7.1m $7.1m 0.01% Reduced -90.8k -90,848
73 Gateway Wealth Partners, LLC 0.28% of their portfolio APPLETON, WI 73,82773.8k $7.1m $7.1m 0.28% New
74 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 69,95670.0k $6.7m $6.7m 0.01% Added +2.5k +2,512
75 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.04% of their portfolio IRVING, TX 68,72268.7k $6.6m $6.6m 0.04% Reduced -473.6k -473,595
76 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 68,49768.5k $6.5m $6.5m 0.01% Reduced -4.6k -4,644
77 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 68,06368.1k $6.5m $6.5m 0.00% Added +529 +529
78 Up Capital Management, Inc. 7.24% of their portfolio ROSEVILLE, CA 67,38767.4k $6.5m $6.5m 7.24% Reduced -13.2k -13,230
79 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 67,37267.4k $6.4m $6.4m 0.01% Added +50.0k +49,984
80 Apella Capital, LLC 0.10% of their portfolio WEST HARTFORD, CT 67,35067.3k $6.5m $6.5m 0.10% Reduced -5.3k -5,315
81 Prospera Financial Services Inc 0.10% of their portfolio Dallas, TX 65,61265.6k $6.3m $6.3m 0.10% Reduced -24.7k -24,696
82 Ameritas Advisory Services, LLC 0.24% of their portfolio Lincoln, NE 65,60165.6k $6.3m $6.3m 0.24% Reduced -2.2k -2,185
83 Summit Financial, LLC 0.08% of their portfolio PARSIPPANY, NJ 62,76562.8k $6.0m $6.0m 0.08% New
84 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 62,60062.6k $6.0m $6.0m 0.01% Reduced -11.8k -11,800
85 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 62,33262.3k $6.0m $6.0m 0.02% Reduced -55.2k -55,185
86 Gotham Asset Management, LLC 0.02% of their portfolio NEW YORK, NY 62,21762.2k $6.0m $6.0m 0.02% Added +40.7k +40,714
87 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 61,12161.1k $5.8m $5.8m 0.00% Reduced -54.6k -54,552
88 Virtus Fixed Income Advisers, LLC 4.77% of their portfolio HARTFORD, CT 61,01261.0k $5.8m $5.8m 4.77% Added +40.9k +40,860
89 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 60,39560.4k $5.8m $5.8m 0.00% Reduced -15.7k -15,666
90 Sound Income Strategies, LLC 0.27% of their portfolio FT LAUDERDALE, FL 58,77158.8k $5.6m $5.6m 0.27% Reduced -460 -460
91 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 58,26358.3k $5.6m $5.6m 0.03% Added +594 +594
92 Integrated Wealth Concepts LLC 0.04% of their portfolio WALTHAM, MA 55,89955.9k $5.4m $5.4m 0.04% Added +14.0k +13,971
93 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 55,02955.0k $5.3m $5.3m 0.00% Added +50.1k +50,104
94 BlackRock, Inc. 0.00% of their portfolio New York, NY 54,29354.3k $5.2m $5.2m 0.00% Reduced -1.7m -1,707,674
95 Financial Partners Group, Inc 0.59% of their portfolio Overland Park, KS 51,50651.5k $4.9m $4.9m 0.59% Added +7.0k +7,037
96 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 50,95651.0k $4.9m $4.9m 0.00% Added +3.1k +3,148
97 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 49,99250.0k $4.8m $4.8m 0.00% Added +1.0k +1,009
98 Sovereign Investment Advisors, LLC 1.00% of their portfolio PHOENIX, AZ 49,56749.6k $4.7m $4.7m 1.00% Added +550 +550
99 Vontobel Holding Ltd. 0.02% of their portfolio ZURICH, V8 48,85348.9k $4.7m $4.7m 0.02% Added +583 +583
100 Brindle & Bay Financial Advisors, LLC 2.84% of their portfolio FRISCO, TX 48,30848.3k $4.6m $4.6m 2.84% Reduced -7.7k -7,665