Vault-13

SPDR SER TR BIL

BLOOMBERG 1-3 MO · ETP · CUSIP 78468R663

1,174 institutional holders +41 vs Q4 2024
240,503,078240.5m shares reported held*
$22.1bnreported value*
137 new 531 added 411 reduced 86 sold out net bought ≈ $2.5bn (+27.2m 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 ($67.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $91.73. Options: 1 managers hold calls ($3.3m notional), 3 hold puts ($1.1m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 583Q4 22: 690Q1 23: 795Q2 23: 854Q3 23: 872Q4 23: 986Q1 24: 967Q2 24: 1,033Q3 24: 1,047Q4 24: 1,133Q1 25: 1,1741,174Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022583
Q4 2022690
Q1 2023795
Q2 2023854
Q3 2023872
Q4 2023986
Q1 2024967
Q2 20241,033
Q3 20241,047
Q4 20241,133
Q1 20251,174

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 23: 425 bought or addedQ2 23: 406 cut or sold outQ3 23: 485 bought or addedQ3 23: 370 cut or sold outQ3 23Q4 23: 443 bought or addedQ4 23: 480 cut or sold outQ1 24: 476 bought or addedQ1 24: 524 cut or sold outQ1 24Q2 24: 526 bought or addedQ2 24: 468 cut or sold outQ3 24: 505 bought or addedQ3 24: 529 cut or sold outQ3 24Q4 24: 594 bought or addedQ4 24: 451 cut or sold outQ1 25: 668 bought or addedQ1 25: 497 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023425406
Q3 2023485370
Q4 2023443480
Q1 2024476524
Q2 2024526468
Q3 2024505529
Q4 2024594451
Q1 2025668497

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ2 24 calls: $2.4mQ2 24 puts: $3.9mQ2 24P/C 1.64Q3 24 calls: $1.9mQ3 24 puts: $2.5mQ3 24P/C 1.29Q4 24 calls: $301.7kQ4 24 puts: $9.6mQ4 24P/C 31.97Q1 25 calls: $3.3mQ1 25 puts: $1.1mQ1 25P/C 0.33
Numbers
QuarterCallsPutsP/C
Q2 2024$2.4m$3.9m1.64
Q3 2024$1.9m$2.5m1.29
Q4 2024$301.7k$9.6m31.97
Q1 2025$3.3m$1.1m0.33

Biggest buyers

ASSETMARK, INC Added +6,286,127+6.3m
MORGAN STANLEY Added +2,246,904+2.2m
CITIGROUP INC Added +1,723,134+1.7m
HALBERT HARGROVE GLOBAL ADVISORS, LLC New +1,629,049+1.6m
ROYAL BANK OF CANADA Added +1,244,235+1.2m
AGF MANAGEMENT LTD Added +1,092,381+1.1m
LPL Financial LLC Added +1,006,657+1.0m
Concurrent Investment Advisors, LLC Added +872,004+872.0k
Scharf Investments, LLC Added +849,857+849.9k
JNBA Financial Advisors Added +753,734+753.7k

Biggest sellers

Beacon Capital Management, Inc. Reduced -1,604,049-1.6m
Synergy Asset Management, LLC Reduced -1,114,633-1.1m
Equitable Holdings, Inc. Reduced -894,113-894.1k
BANK OF AMERICA CORP /DE/ Reduced -845,577-845.6k
3EDGE Asset Management, LP Reduced -704,654-704.7k
Delta Investment Management, LLC Reduced -557,635-557.6k
DIMENSION CAPITAL MANAGEMENT LLC Reduced -446,455-446.5k
McElhenny Sheffield Capital Management, LLC Reduced -428,396-428.4k
Financial & Tax Architects, LLC Reduced -397,925-397.9k
AMERIPRISE FINANCIAL INC Reduced -397,272-397.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.3m36.5k shares

Biggest puts

Belvedere Trading LLC Added $642.1k7.0k shares
Quaker Wealth Management, LLC First filing $374.7k4.1k shares
CITADEL ADVISORS LLC Unchanged $100.9k1.1k 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.14% of their portfolio NEW YORK, NY 21,644,76521.6m $2.0bn $2.0bn 0.14% Added +2.2m +2,246,904
2 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 15,505,91315.5m $1.4bn $1.4bn 0.13% Reduced -845.6k -845,577
3 LPL Financial LLC 0.45% of their portfolio FORT MILL, SC 12,500,37312.5m $1.1bn $1.1bn 0.45% Added +1.0m +1,006,657
4 ASSETMARK, INC 1.84% of their portfolio CONCORD, CA 7,284,9717.3m $668.3m $668.3m 1.84% Added +6.3m +6,286,127
5 ROYAL BANK OF CANADA 0.14% of their portfolio TORONTO, A6 6,888,3776.9m $631.9m $631.9m 0.14% Added +1.2m +1,244,235
6 WELLS FARGO & COMPANY/MN 0.15% of their portfolio SAN FRANCISCO, CA 6,802,9956.8m $624.0m $624.0m 0.15% Added +691.9k +691,855
7 UBS Group AG 0.14% of their portfolio ZURICH, V8 6,758,7736.8m $620.0m $620.0m 0.14% Added +240.8k +240,819
8 ENVESTNET ASSET MANAGEMENT INC 0.19% of their portfolio Berwyn, PA 6,538,2726.5m $599.8m $599.8m 0.19% Added +584.0k +584,042
9 STIFEL FINANCIAL CORP 0.53% of their portfolio ST. LOUIS, MO 5,481,0265.5m $502.8m $502.8m 0.53% Added +475.8k +475,823
10 Capital Wealth Planning, LLC 4.31% of their portfolio NAPLES, FL 5,419,0495.4m $497.1m $497.1m 4.31% Added +318.7k +318,664
11 CAPTRUST FINANCIAL ADVISORS 0.76% of their portfolio RALEIGH, NC 3,290,4093.3m $301.8m $301.8m 0.76% Reduced -103.9k -103,913
12 TRUIST FINANCIAL CORP 0.47% of their portfolio CHARLOTTE, NC 3,197,9853.2m $293.4m $293.4m 0.47% Added +136.0k +136,017
13 RAYMOND JAMES FINANCIAL INC 0.10% of their portfolio ST. PETERSBURG, FL 2,887,7932.9m $264.9m $264.9m 0.10% Added +171.3k +171,252
14 PARTNERS CAPITAL INVESTMENT GROUP, LLP 4.36% of their portfolio BOSTON, MA 2,812,4582.8m $258.0m $258.0m 4.36% Added +650.3k +650,315
15 Cetera Investment Advisers 0.44% of their portfolio SCHAUMBURG, IL 2,494,1012.5m $228.8m $228.8m 0.44% Added +105.9k +105,860
16 AGF MANAGEMENT LTD 1.19% of their portfolio TORONTO, A6 2,453,6402.5m $225.1m $225.1m 1.19% Added +1.1m +1,092,381
17 Capital International Investors 0.04% of their portfolio Los Angeles, CA 2,351,5282.4m $215.7m $215.7m 0.04% Added +115.7k +115,731
18 OSAIC HOLDINGS, INC. 0.47% of their portfolio SCOTTSDALE, AZ 2,292,3182.3m $210.3m $210.3m 0.47% Reduced -112.6k -112,624
19 OPPENHEIMER ASSET MANAGEMENT INC. 2.45% of their portfolio NEW YORK, NY 2,154,8322.2m $197.7m $197.7m 2.45% Added +311.8k +311,818
20 CWM, LLC 0.74% of their portfolio OMAHA, NE 2,030,3092.0m $186.2m $186.2m 0.74% Added +191.5k +191,502
21 CITIGROUP INC 0.14% of their portfolio NEW YORK, NY 2,023,6212.0m $185.6m $185.6m 0.14% Added +1.7m +1,723,134
22 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 1.82% of their portfolio Madrid, U3 1,963,4562.0m $180.6m $180.6m 1.82% Added +234.8k +234,799
23 3EDGE Asset Management, LP 12.16% of their portfolio Naples, FL 1,949,8041.9m $178.9m $178.9m 12.16% Reduced -704.7k -704,654
24 Dakota Wealth Management 3.97% of their portfolio PALM BEACH GARDENS, FL 1,846,8871.8m $169.4m $169.4m 3.97% Added +486.7k +486,707
25 HALBERT HARGROVE GLOBAL ADVISORS, LLC 8.51% of their portfolio LONG BEACH, CA 1,629,0491.6m $149.4m $149.4m 8.51% New
26 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 1,496,9001.5m $137.3m $137.3m 0.04% Reduced -397.3k -397,272
27 Cambridge Investment Research Advisors, Inc. 0.46% of their portfolio FAIRFIELD, IA 1,479,8451.5m $135.7m $135.7m 0.46% Added +147.1k +147,070
28 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,453,7131.5m $133.3m $133.3m 0.00% Reduced -290.5k -290,476
29 Creative Planning 0.12% of their portfolio OVERLAND PARK, KS 1,424,4071.4m $130.7m $130.7m 0.12% Added +82.9k +82,867
30 Howard Capital Management, LLC 3.06% of their portfolio Alpharetta, GA 1,328,2631.3m $121.8m $121.8m 3.06% Added +179.9k +179,896
31 Sandhill Capital Partners LLC 10.00% of their portfolio BUFFALO, NY 1,325,6591.3m $121.6m $121.6m 10.00% Added +274.0k +273,998
32 RENAISSANCE TECHNOLOGIES LLC 0.17% of their portfolio NEW YORK, NY 1,255,3001.3m $115.1m $115.1m 0.17% Added +245.3k +245,300
33 Ashton Thomas Private Wealth, LLC 4.35% of their portfolio SCOTTSDALE, AZ 1,238,8731.2m $113.6m $113.6m 4.35% Added +115.6k +115,597
34 AQR CAPITAL MANAGEMENT LLC 0.11% of their portfolio Greenwich, CT 1,190,6561.2m $109.2m $109.2m 0.11% Added +227.2k +227,188
35 IEQ CAPITAL, LLC 0.87% of their portfolio Foster City, CA 1,188,8951.2m $109.1m $109.1m 0.87% Added +284.4k +284,418
36 EAGLE CAPITAL MANAGEMENT LLC 0.39% of their portfolio New York, NY 1,172,1581.2m $107.5m $107.5m 0.39% Reduced -250.3k -250,283
37 Concurrent Investment Advisors, LLC 2.58% of their portfolio Tampa, FL 1,153,8111.2m $105.8m $105.8m 2.58% Added +872.0k +872,004
38 MBL Wealth, LLC 10.43% of their portfolio CHARLOTTE, NC 1,122,1721.1m $102.9m $102.9m 10.43% Reduced -68.5k -68,472
39 Scharf Investments, LLC 3.05% of their portfolio LOS GATOS, CA 1,099,5471.1m $100.9m $100.9m 3.05% Added +849.9k +849,857
40 Mariner, LLC 0.15% of their portfolio Overland Park, KS 975,582975.6k $89.5m $89.5m 0.15% Added +358.6k +358,590
41 Private Advisor Group, LLC 0.52% of their portfolio MORRISTOWN, NJ 931,283931.3k $85.4m $85.4m 0.52% Reduced -18.3k -18,288
42 COMMONWEALTH EQUITY SERVICES, LLC 0.12% of their portfolio WALTHAM, MA 902,085902.1k $82.7m $82.7m 0.12% Added +252.7k +252,661
43 Composition Wealth, LLC 1.57% of their portfolio LOS ANGELES, CA 853,297853.3k $78.3m $78.3m 1.57% Added +155.3k +155,310
44 Foundations Investment Advisors, LLC 1.40% of their portfolio PHOENIX, AZ 825,833825.8k $75.8m $75.8m 1.40% Added +121.9k +121,873
45 12th Street Asset Management Company, LLC 12.78% of their portfolio Nashville, TN 817,266817.3k $75.0m $75.0m 12.78% Added +557.6k +557,647
46 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 797,277797.3k $73.1m $73.1m 0.06% Reduced -18.5k -18,511
47 Twelve Points Wealth Management LLC 19.45% of their portfolio CONCORD, MA 781,413781.4k $71.7m $71.7m 19.45% Added +27.5k +27,461
48 AXXCESS WEALTH MANAGEMENT, LLC 1.95% of their portfolio CARLSBAD, CA 779,930779.9k $71.5m $71.5m 1.95% Reduced -121.8k -121,815
49 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 765,528765.5k $70.2m $70.2m 0.01% Added +186.0k +185,983
50 JNBA Financial Advisors 7.21% of their portfolio BLOOMINGTON, MN 758,389758.4k $69.6m $69.6m 7.21% Added +753.7k +753,734
51 Rockefeller Capital Management L.P. 0.17% of their portfolio NEW YORK, NY 748,029748.0k $68.6m $68.6m 0.17% Added +182.6k +182,645
52 THOR TRADING ADVISORS, LLC 27.47% of their portfolio GREENSBURG, PA 741,141741.1k $68.0m $68.0m 27.47% Added +564.2k +564,175
53 Capital Investment Advisory Services, LLC 5.80% of their portfolio RALEIGH, NC 707,176707.2k $64.9m $64.9m 5.80% Reduced -7.4k -7,433
54 Cypress Capital, LLC 18.57% of their portfolio FRANKLIN, TN 702,227702.2k $64.4m $64.4m 18.57% Reduced -89.6k -89,634
55 Capital Asset Advisory Services LLC 3.27% of their portfolio Williamston, MI 701,847701.8k $64.2m $64.2m 3.27% Reduced -78.1k -78,105
56 Modern Wealth Management, LLC 2.04% of their portfolio KANSAS CITY, MO 697,173697.2k $64.0m $64.0m 2.04% Added +579.3k +579,318
57 HighTower Advisors, LLC 0.09% of their portfolio CHICAGO, IL 683,386683.4k $62.7m $62.7m 0.09% Added +136.3k +136,331
58 Baird Financial Group, Inc. 0.12% of their portfolio MILWAUKEE, WI 679,387679.4k $62.3m $62.3m 0.12% Added +84.2k +84,180
59 MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 679,034679.0k $62.3m $62.3m 0.06% Reduced -119.0k -119,045
60 Advisory Services Network, LLC 1.19% of their portfolio ATLANTA, GA 677,387677.4k $62.1m $62.1m 1.19% Reduced -28.7k -28,651
61 Randolph Co Inc 7.10% of their portfolio Cincinnati, OH 661,660661.7k $60.7m $60.7m 7.10% Added +591.4k +591,413
62 Impact Partnership Wealth, LLC 12.66% of their portfolio MARIETTA, GA 646,197646.2k $59.3m $59.3m 12.66% Reduced -292.4k -292,408
63 St. Louis Financial Planners Asset Management, LLC 42.45% of their portfolio CHESTERFIELD, MO 619,155619.2k $56.8m $56.8m 42.45% Added +102.6k +102,595
64 MONETA GROUP INVESTMENT ADVISORS LLC 0.78% of their portfolio ST LOUIS, MO 616,976617.0k $56.6m $56.6m 0.78% Added +74.4k +74,376
65 CWA Asset Management Group, LLC 2.65% of their portfolio NAPLES, FL 602,719602.7k $55.3m $55.3m 2.65% Reduced -52.0k -52,011
66 RFG Advisory, LLC 1.45% of their portfolio BIRMINGHAM, AL 584,637584.6k $53.6m $53.6m 1.45% Added +170.7k +170,743
67 St. James Investment Company, LLC 8.88% of their portfolio SOUTHLAKE, TX 580,825580.8k $53.3m $53.3m 8.88% Added +186.8k +186,827
68 Envestnet Portfolio Solutions, Inc. 0.20% of their portfolio BERWYN, PA 575,292575.3k $52.8m $52.8m 0.20% Reduced -53.7k -53,704
69 EP Wealth Advisors, LLC 0.42% of their portfolio TORRANCE, CA 570,422570.4k $52.3m $52.3m 0.42% Reduced -1.6k -1,598
70 Trilogy Capital Inc. 2.70% of their portfolio IRVINE, CA 561,875561.9k $51.5m $51.5m 2.70% Added +168.3k +168,288
71 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 551,704551.7k $50.6m $50.6m 0.03% Added +395.3k +395,300
72 Acorns Advisers, LLC 0.47% of their portfolio IRVINE, CA 538,240538.2k $49.4m $49.4m 0.47% Added +29.4k +29,385
73 Synergy Asset Management, LLC 6.17% of their portfolio VANCOUVER, WA 533,333533.3k $48.9m $48.9m 6.17% Reduced -1.1m -1,114,633
74 Running Point Capital Advisors, LLC 15.40% of their portfolio EL SEGUNDO, CA 528,832528.8k $48.5m $48.5m 15.40% Reduced -4.5k -4,490
75 DIMENSION CAPITAL MANAGEMENT LLC 8.50% of their portfolio Coral Gables, FL 522,556522.6k $47.9m $47.9m 8.50% Reduced -446.5k -446,455
76 Sollinda Capital Management LLC 13.27% of their portfolio HICKORY, NC 519,898519.9k $47.7m $47.7m 13.27% Reduced -196.4k -196,406
77 Brookstone Capital Management 0.68% of their portfolio WHEATON, IL 517,565517.6k $47.5m $47.5m 0.68% Added +159.3k +159,272
78 Northstar Group, Inc. 7.70% of their portfolio NEW YORK, NY 517,558517.6k $47.5m $47.5m 7.70% Added +28.6k +28,550
79 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 516,740516.7k $47.4m $47.4m 0.00% New
80 BRASADA CAPITAL MANAGEMENT, LP 9.27% of their portfolio HOUSTON, TX 507,612507.6k $46.5m $46.5m 9.27% Added +145.6k +145,567
81 Salomon & Ludwin, LLC 4.88% of their portfolio RICHMOND, VA 498,938498.9k $45.8m $45.8m 4.88% Added +16.5k +16,467
82 Second Half Financial Partners, LLC 21.82% of their portfolio SEBRING, FL 479,809479.8k $44.0m $44.0m 21.82% Added +362.8k +362,783
83 Mutual Advisors, LLC 1.26% of their portfolio OMAHA, NE 479,405479.4k $44.0m $44.0m 1.26% Added +229.3k +229,325
84 Auour Investments LLC 15.81% of their portfolio WOBURN, MA 475,679475.7k $43.6m $43.6m 15.81% Added +127.9k +127,939
85 Fortis Group Advisors, LLC 8.34% of their portfolio WESTWOOD, NJ 468,488468.5k $43.0m $43.0m 8.34% Added +16.9k +16,927
86 Atria Wealth Solutions, Inc. 0.52% of their portfolio NEW YORK, NY 467,402467.4k $42.9m $42.9m 0.52% Reduced -6.8k -6,836
87 Park Edge Advisors, LLC 11.79% of their portfolio Cleveland, OH 461,592461.6k $42.3m $42.3m 11.79% Added +369.8k +369,757
88 Federation des caisses Desjardins du Quebec 0.21% of their portfolio LEVIS, A8 453,131453.1k $41.6m $41.6m 0.21% Reduced -72.5k -72,540
89 Prostatis Group LLC 12.85% of their portfolio HANOVER, MD 444,097444.1k $40.7m $40.7m 12.85% Added +266.0k +266,027
90 WESTWOOD HOLDINGS GROUP INC 0.30% of their portfolio DALLAS, TX 435,792435.8k $40.0m $40.0m 0.30% Added +64.5k +64,507
91 MML INVESTORS SERVICES, LLC 0.13% of their portfolio SPRINGFIELD, MA 432,381432.4k $39.7m $39.7m 0.13% Added +3.3k +3,252
92 TECTONIC ADVISORS LLC 2.48% of their portfolio FRISCO, TX 431,999432.0k $39.6m $39.6m 2.48% Added +115.1k +115,104
93 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 412,409412.4k $37.8m $37.8m 0.01% Added +202.7k +202,710
94 INTEGRITY ALLIANCE, LLC. 1.48% of their portfolio Urbandale, IA 407,505407.5k $37.4m $37.4m 1.48% Added +189.2k +189,209
95 Integrated Advisors Network LLC 1.89% of their portfolio DALLAS, TX 406,279406.3k $37.3m $37.3m 1.89% Reduced -9.4k -9,355
96 Gitterman Wealth Management, LLC 9.82% of their portfolio Edison, NJ 403,025403.0k $37.0m $37.0m 9.82% Added +131.1k +131,060
97 Verdence Capital Advisors LLC 2.78% of their portfolio HUNT VALLEY, MD 397,138397.1k $36.4m $36.4m 2.78% Added +199.9k +199,936
98 TOWNSQUARE CAPITAL LLC 0.39% of their portfolio Lehi, UT 394,863394.9k $36.2m $36.2m 0.39% Added +22.7k +22,735
99 Belpointe Asset Management LLC 1.85% of their portfolio RENO, NV 387,709387.7k $35.6m $35.6m 1.85% Added +184.6k +184,567
100 Turim 21 Investimentos Ltda. 9.42% of their portfolio RIO DE JANEIRO, D5 382,140382.1k $35.1m $35.1m 9.42% New