Vault-13

SPDR SER TR BIL

BLOOMBERG 1-3 MO · ETP · CUSIP 78468R663

1,182 institutional holders +8 vs Q1 2025
253,533,614253.5m shares reported held*
$23.3bnreported value*
105 new 494 added 471 reduced 101 sold out net bought ≈ $1.1bn (+12.0m 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 ($33.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $91.74. Options: 1 managers hold calls ($3.6m notional), 2 hold puts ($2.2m).

Trends to Q2 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: 1,174Q2 25: 1,1821,182Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 20251,182

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 23: 485 bought or addedQ3 23: 370 cut or sold outQ4 23: 443 bought or addedQ4 23: 480 cut or sold outQ4 23Q1 24: 476 bought or addedQ1 24: 524 cut or sold outQ2 24: 526 bought or addedQ2 24: 468 cut or sold outQ2 24Q3 24: 505 bought or addedQ3 24: 529 cut or sold outQ4 24: 594 bought or addedQ4 24: 451 cut or sold outQ4 24Q1 25: 668 bought or addedQ1 25: 497 cut or sold outQ2 25: 599 bought or addedQ2 25: 572 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023485370
Q4 2023443480
Q1 2024476524
Q2 2024526468
Q3 2024505529
Q4 2024594451
Q1 2025668497
Q2 2025599572

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ3 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 0.33Q2 25 calls: $3.6mQ2 25 puts: $2.2mQ2 25P/C 0.61
Numbers
QuarterCallsPutsP/C
Q3 2024$1.9m$2.5m1.29
Q4 2024$301.7k$9.6m31.97
Q1 2025$3.3m$1.1m0.33
Q2 2025$3.6m$2.2m0.61

Biggest buyers

ROYAL BANK OF CANADA Added +9,005,269+9.0m
CAPTRUST FINANCIAL ADVISORS Added +2,487,366+2.5m
Rockefeller Capital Management L.P. Added +2,367,743+2.4m
BANK OF AMERICA CORP /DE/ Added +2,270,073+2.3m
Capital International Investors Added +1,643,157+1.6m
UBS Group AG Added +1,454,298+1.5m
RAYMOND JAMES FINANCIAL INC Added +1,153,335+1.2m
MORGAN STANLEY Added +1,114,247+1.1m
AQR CAPITAL MANAGEMENT LLC Added +1,019,145+1.0m
IEQ CAPITAL, LLC Added +819,283+819.3k

Biggest sellers

ASSETMARK, INC Reduced -4,269,100-4.3m
PARTNERS CAPITAL INVESTMENT GROUP, LLP Reduced -2,689,458-2.7m
HALBERT HARGROVE GLOBAL ADVISORS, LLC Reduced -1,626,952-1.6m
CITIGROUP INC Reduced -1,342,732-1.3m
Capital Wealth Planning, LLC Reduced -1,277,328-1.3m
RENAISSANCE TECHNOLOGIES LLC Sold out -1,255,300-1.3m
Concurrent Investment Advisors, LLC Reduced -953,933-953.9k
ENVESTNET ASSET MANAGEMENT INC Reduced -883,274-883.3k
THOR TRADING ADVISORS, LLC Sold out -741,141-741.1k
MILLENNIUM MANAGEMENT LLC Reduced -652,114-652.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.6m39.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $1.5m16.0k shares
Belvedere Trading LLC Added $697.1k7.6k 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 MORGAN STANLEY 0.14% of their portfolio NEW YORK, NY 22,759,01222.8m $2.1bn $2.1bn 0.14% Added +1.1m +1,114,247
2 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 17,775,98617.8m $1.6bn $1.6bn 0.13% Added +2.3m +2,270,073
3 ROYAL BANK OF CANADA 0.14% of their portfolio TORONTO, A6 15,893,64615.9m $1.5bn $1.5bn 0.14% Added +9.0m +9,005,269
4 LPL Financial LLC 0.40% of their portfolio FORT MILL, SC 13,136,94213.1m $1.2bn $1.2bn 0.40% Added +636.6k +636,569
5 UBS Group AG 0.16% of their portfolio ZURICH, V8 8,213,0718.2m $753.4m $753.4m 0.16% Added +1.5m +1,454,298
6 WELLS FARGO & COMPANY/MN 0.13% of their portfolio SAN FRANCISCO, CA 6,581,4036.6m $603.7m $603.7m 0.13% Reduced -221.6k -221,592
7 CAPTRUST FINANCIAL ADVISORS 1.18% of their portfolio RALEIGH, NC 5,777,7755.8m $530.0m $530.0m 1.18% Added +2.5m +2,487,366
8 ENVESTNET ASSET MANAGEMENT INC 0.15% of their portfolio Berwyn, PA 5,654,9985.7m $518.6m $518.6m 0.15% Reduced -883.3k -883,274
9 STIFEL FINANCIAL CORP 0.44% of their portfolio ST. LOUIS, MO 4,886,2144.9m $448.2m $448.2m 0.44% Reduced -594.8k -594,812
10 Capital Wealth Planning, LLC 3.00% of their portfolio NAPLES, FL 4,141,7214.1m $379.9m $379.9m 3.00% Reduced -1.3m -1,277,328
11 RAYMOND JAMES FINANCIAL INC 0.13% of their portfolio ST. PETERSBURG, FL 4,041,1284.0m $370.7m $370.7m 0.13% Added +1.2m +1,153,335
12 Capital International Investors 0.06% of their portfolio Los Angeles, CA 3,994,6854.0m $366.4m $366.4m 0.06% Added +1.6m +1,643,157
13 TRUIST FINANCIAL CORP 0.46% of their portfolio CHARLOTTE, NC 3,389,9653.4m $311.0m $311.0m 0.46% Added +192.0k +191,980
14 Rockefeller Capital Management L.P. 0.35% of their portfolio NEW YORK, NY 3,115,7723.1m $295.0m $295.0m 0.35% Added +2.4m +2,367,743
15 AGF MANAGEMENT LTD 1.28% of their portfolio TORONTO, A6 3,076,0493.1m $282.2m $282.2m 1.28% Added +622.4k +622,409
16 ASSETMARK, INC 0.65% of their portfolio CONCORD, CA 3,015,8713.0m $276.6m $276.6m 0.65% Reduced -4.3m -4,269,100
17 OSAIC HOLDINGS, INC. 0.44% of their portfolio SCOTTSDALE, AZ 2,700,8992.7m $247.8m $247.8m 0.44% Added +408.6k +408,581
18 3EDGE Asset Management, LP 14.46% of their portfolio Naples, FL 2,535,0052.5m $232.5m $232.5m 14.46% Added +585.2k +585,201
19 Cetera Investment Advisers 0.38% of their portfolio SCHAUMBURG, IL 2,448,8282.4m $224.6m $224.6m 0.38% Reduced -45.3k -45,273
20 CWM, LLC 0.76% of their portfolio OMAHA, NE 2,360,0372.4m $216.5m $216.5m 0.76% Added +329.7k +329,728
21 OPPENHEIMER ASSET MANAGEMENT INC. 2.47% of their portfolio NEW YORK, NY 2,349,9762.3m $215.6m $215.6m 2.47% Added +195.1k +195,144
22 AQR CAPITAL MANAGEMENT LLC 0.17% of their portfolio Greenwich, CT 2,209,8012.2m $202.7m $202.7m 0.17% Added +1.0m +1,019,145
23 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 1.71% of their portfolio Madrid, U3 2,068,4992.1m $189.1m $189.1m 1.71% Added +105.0k +105,043
24 IEQ CAPITAL, LLC 1.13% of their portfolio Foster City, CA 2,008,1782.0m $184.2m $184.2m 1.13% Added +819.3k +819,283
25 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,648,5411.6m $151.2m $151.2m 0.00% Added +194.8k +194,828
26 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,535,2521.5m $140.7m $140.7m 0.03% Added +38.4k +38,352
27 Cambridge Investment Research Advisors, Inc. 0.42% of their portfolio FAIRFIELD, IA 1,515,0851.5m $139.0m $139.0m 0.42% Added +35.2k +35,240
28 Creative Planning 0.11% of their portfolio OVERLAND PARK, KS 1,418,7301.4m $130.1m $130.1m 0.11% Reduced -5.7k -5,677
29 Sandhill Capital Partners LLC 9.05% of their portfolio BUFFALO, NY 1,373,4871.4m $126.0m $126.0m 9.05% Added +47.8k +47,828
30 Howard Capital Management, LLC 1.88% of their portfolio Alpharetta, GA 1,371,4161.4m $125.8m $125.8m 1.88% Added +43.2k +43,153
31 Ashton Thomas Private Wealth, LLC 4.22% of their portfolio SCOTTSDALE, AZ 1,304,0131.3m $119.6m $119.6m 4.22% Added +65.1k +65,140
32 Dakota Wealth Management 2.46% of their portfolio PALM BEACH GARDENS, FL 1,275,5731.3m $117.0m $117.0m 2.46% Reduced -571.3k -571,314
33 Foundations Investment Advisors, LLC 1.70% of their portfolio PHOENIX, AZ 1,172,0241.2m $107.5m $107.5m 1.70% Added +346.2k +346,191
34 EAGLE CAPITAL MANAGEMENT LLC 0.32% of their portfolio New York, NY 1,064,4131.1m $97.6m $97.6m 0.32% Reduced -107.7k -107,745
35 MBL Wealth, LLC 8.33% of their portfolio CHARLOTTE, NC 948,411948.4k $87.0m $87.0m 8.33% Reduced -173.8k -173,761
36 COMMONWEALTH EQUITY SERVICES, LLC 0.11% of their portfolio WALTHAM, MA 928,738928.7k $85.2m $85.2m 0.11% Added +26.7k +26,653
37 SPROTT INC. 4.15% of their portfolio TORONTO, A6 904,458904.5k $83.0m $83.0m 4.15% Added +625.8k +625,804
38 Private Advisor Group, LLC 0.44% of their portfolio MORRISTOWN, NJ 891,739891.7k $81.8m $81.8m 0.44% Reduced -39.5k -39,544
39 AXXCESS WEALTH MANAGEMENT, LLC 1.95% of their portfolio CARLSBAD, CA 886,902886.9k $81.4m $81.4m 1.95% Added +107.0k +106,972
40 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 859,682859.7k $78.9m $78.9m 0.06% Added +62.4k +62,405
41 CX Institutional 2.56% of their portfolio AUBURN, IN 801,463801.5k $73.5m $73.5m 2.56% Added +793.7k +793,654
42 JNBA Financial Advisors 7.06% of their portfolio BLOOMINGTON, MN 800,386800.4k $73.4m $73.4m 7.06% Added +42.0k +41,997
43 Mariner, LLC 0.10% of their portfolio Overland Park, KS 762,476762.5k $69.9m $69.9m 0.10% Reduced -213.1k -213,106
44 Scharf Investments, LLC 2.01% of their portfolio LOS GATOS, CA 760,224760.2k $69.7m $69.7m 2.01% Reduced -339.3k -339,323
45 MONETA GROUP INVESTMENT ADVISORS LLC 0.81% of their portfolio ST LOUIS, MO 737,034737.0k $67.6m $67.6m 0.81% Added +120.1k +120,058
46 Capital Asset Advisory Services LLC 3.05% of their portfolio Williamston, MI 714,115714.1k $65.3m $65.3m 3.05% Added +12.3k +12,268
47 Baird Financial Group, Inc. 0.11% of their portfolio MILWAUKEE, WI 703,737703.7k $64.6m $64.6m 0.11% Added +24.4k +24,350
48 HighTower Advisors, LLC 0.08% of their portfolio CHICAGO, IL 701,142701.1k $64.3m $64.3m 0.08% Added +17.8k +17,756
49 Composition Wealth, LLC 1.05% of their portfolio LOS ANGELES, CA 683,378683.4k $62.7m $62.7m 1.05% Reduced -169.9k -169,919
50 CITIGROUP INC 0.04% of their portfolio NEW YORK, NY 680,889680.9k $62.5m $62.5m 0.04% Reduced -1.3m -1,342,732
51 Running Point Capital Advisors, LLC 16.86% of their portfolio EL SEGUNDO, CA 666,043666.0k $61.1m $61.1m 16.86% Added +137.2k +137,211
52 Synergy Asset Management, LLC 6.69% of their portfolio VANCOUVER, WA 637,800637.8k $58.5m $58.5m 6.69% Added +104.5k +104,467
53 Capital Investment Advisory Services, LLC 4.78% of their portfolio RALEIGH, NC 636,619636.6k $58.4m $58.4m 4.78% Reduced -70.6k -70,557
54 CWA Asset Management Group, LLC 2.26% of their portfolio NAPLES, FL 583,186583.2k $53.5m $53.5m 2.26% Reduced -19.5k -19,533
55 DIMENSION CAPITAL MANAGEMENT LLC 8.14% of their portfolio Coral Gables, FL 565,957566.0k $51.9m $51.9m 8.14% Added +43.4k +43,401
56 MML INVESTORS SERVICES, LLC 0.15% of their portfolio SPRINGFIELD, MA 565,595565.6k $51.9m $51.9m 0.15% Added +133.2k +133,214
57 Advisory Services Network, LLC 0.82% of their portfolio ATLANTA, GA 556,406556.4k $51.1m $51.1m 0.82% Reduced -121.0k -120,981
58 RFG Advisory, LLC 1.19% of their portfolio BIRMINGHAM, AL 553,363553.4k $50.8m $50.8m 1.19% Reduced -31.3k -31,274
59 Hibernia Wealth Partners, LLC 18.40% of their portfolio BATON ROUGE, LA 550,209550.2k $50.5m $50.5m 18.40% Added +241.5k +241,471
60 Twelve Points Wealth Management LLC 13.54% of their portfolio CONCORD, MA 548,323548.3k $50.3m $50.3m 13.54% Reduced -233.1k -233,090
61 Teamwork Financial Advisors, LLC 6.13% of their portfolio San Antonio, TX 544,415544.4k $49.9m $49.9m 6.13% Added +339.8k +339,796
62 Acorns Advisers, LLC 0.43% of their portfolio IRVINE, CA 540,874540.9k $49.6m $49.6m 0.43% Added +2.6k +2,634
63 Stadion Money Management, LLC 3.99% of their portfolio WATKINSVILLE, GA 532,205532.2k $48.7m $48.7m 3.99% New
64 St. James Investment Company, LLC 7.81% of their portfolio SOUTHLAKE, TX 527,432527.4k $48.4m $48.4m 7.81% Reduced -53.4k -53,393
65 Salomon & Ludwin, LLC 4.67% of their portfolio RICHMOND, VA 516,941516.9k $47.3m $47.3m 4.67% Added +18.0k +18,003
66 Northstar Group, Inc. 7.32% of their portfolio NEW YORK, NY 516,693516.7k $47.4m $47.4m 7.32% Reduced -865 -865
67 Dean, Jacobson Financial Services, LLC 36.60% of their portfolio FORT WORTH, TX 515,922515.9k $47.3m $47.3m 36.60% Added +247.6k +247,625
68 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 505,862505.9k $46.4m $46.4m 0.02% Reduced -45.8k -45,842
69 Auour Investments LLC 15.71% of their portfolio WOBURN, MA 498,119498.1k $45.7m $45.7m 15.71% Added +22.4k +22,440
70 12th Street Asset Management Company, LLC 7.85% of their portfolio Nashville, TN 497,726497.7k $45.7m $45.7m 7.85% Reduced -319.5k -319,540
71 NewEdge Advisors, LLC 0.23% of their portfolio NEW ORLEANS, LA 494,824494.8k $45.4m $45.4m 0.23% Added +269.8k +269,840
72 Mutual Advisors, LLC 1.12% of their portfolio OMAHA, NE 490,577490.6k $45.0m $45.0m 1.12% Added +11.2k +11,172
73 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 484,212484.2k $44.4m $44.4m 0.00% Reduced -281.3k -281,316
74 EP Wealth Advisors, LLC 0.28% of their portfolio TORRANCE, CA 460,935460.9k $42.3m $42.3m 0.28% Reduced -109.5k -109,487
75 Brookstone Capital Management 0.54% of their portfolio WHEATON, IL 451,645451.6k $41.4m $41.4m 0.54% Reduced -65.9k -65,920
76 Envestnet Portfolio Solutions, Inc. 0.15% of their portfolio BERWYN, PA 450,566450.6k $41.3m $41.3m 0.15% Reduced -124.7k -124,726
77 Belpointe Asset Management LLC 1.72% of their portfolio RENO, NV 448,867448.9k $41.2m $41.2m 1.72% Added +61.2k +61,158
78 Cypress Capital, LLC 11.90% of their portfolio FRANKLIN, TN 446,544446.5k $41.0m $41.0m 11.90% Reduced -255.7k -255,683
79 Financial & Tax Architects, LLC 9.90% of their portfolio ST LOUIS, MO 444,133444.1k $40.7m $40.7m 9.90% Added +417.4k +417,405
80 BANK OF NOVA SCOTIA 0.08% of their portfolio TORONTO, A6 443,976444.0k $40.7m $40.7m 0.08% Added +123.5k +123,509
81 Bell Bank 1.90% of their portfolio FARGO, ND 443,909443.9k $40.7m $40.7m 1.90% Added +205.7k +205,686
82 COLDSTREAM CAPITAL MANAGEMENT INC 0.66% of their portfolio BELLEVUE, WA 440,971441.0k $40.5m $40.5m 0.66% Added +200.9k +200,927
83 Integrated Advisors Network LLC 1.83% of their portfolio DALLAS, TX 440,468440.5k $40.4m $40.4m 1.83% Added +34.2k +34,189
84 BRASADA CAPITAL MANAGEMENT, LP 6.87% of their portfolio HOUSTON, TX 437,702437.7k $40.0m $40.0m 6.87% Reduced -69.9k -69,910
85 First Eagle Investment Management, LLC 0.08% of their portfolio NEW YORK, NY 437,200437.2k $40.1m $40.1m 0.08% Added +219.9k +219,937
86 Verdence Capital Advisors LLC 2.74% of their portfolio HUNT VALLEY, MD 436,952437.0k $40.1m $40.1m 2.74% Added +39.8k +39,814
87 WESTWOOD HOLDINGS GROUP INC 0.28% of their portfolio DALLAS, TX 423,765423.8k $38.9m $38.9m 0.28% Reduced -12.0k -12,027
88 Impact Partnership Wealth, LLC 7.16% of their portfolio MARIETTA, GA 423,442423.4k $38.8m $38.8m 7.16% Reduced -222.8k -222,755
89 Fortis Group Advisors, LLC 6.93% of their portfolio WESTWOOD, NJ 415,646415.6k $38.1m $38.1m 6.93% Reduced -52.8k -52,842
90 Second Half Financial Partners, LLC 17.95% of their portfolio SEBRING, FL 415,305415.3k $38.1m $38.1m 17.95% Reduced -64.5k -64,504
91 B. Riley Wealth Advisors, Inc. 1.83% of their portfolio MEMPHIS, TN 411,158411.2k $37.7m $37.7m 1.83% Added +80.1k +80,077
92 Gitterman Wealth Management, LLC 8.67% of their portfolio Edison, NJ 405,565405.6k $37.2m $37.2m 8.67% Added +2.5k +2,540
93 TECTONIC ADVISORS LLC 2.10% of their portfolio FRISCO, TX 393,418393.4k $36.1m $36.1m 2.10% Reduced -38.6k -38,581
94 Turim 21 Investimentos Ltda. 6.83% of their portfolio RIO DE JANEIRO, D5 380,390380.4k $34.9m $34.9m 6.83% Reduced -1.8k -1,750
95 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.06% of their portfolio PLYMOUTH, MN 375,117375.1k $34.3m $34.3m 0.06% Added +80.1k +80,148
96 Relyea Zuckerberg Hanson LLC 3.99% of their portfolio STAMFORD, CT 371,421371.4k $34.1m $34.1m 3.99% Added +11.0k +11,019
97 Sollinda Capital Management LLC 8.85% of their portfolio HICKORY, NC 370,559370.6k $34.0m $34.0m 8.85% Reduced -149.3k -149,339
98 &PARTNERS 0.26% of their portfolio NASHVILLE, TN 366,260366.3k $33.6m $33.6m 0.26% Added +66.2k +66,216
99 Gradient Investments LLC 0.61% of their portfolio ARDEN HILLS, MN 361,821361.8k $33.2m $33.2m 0.61% Added +79.8k +79,848
100 FOURPATH CAPITAL MANAGEMENT, LLC 5.19% of their portfolio OKLAHOMA CITY, OK 359,588359.6k $33.0m $33.0m 5.19% Added +120.5k +120,536