Vault-13

SPDR SER TR BIL

BLOOMBERG 1-3 MO · ETP · CUSIP 78468R663

1,247 institutional holders +73 vs Q3 2025
247,628,412247.6m shares reported held*
$22.3bnreported value*
100 new 516 added 465 reduced 104 sold out net bought ≈ $382.7m (+8.3m 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 ($44.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $89.91. Options: 1 managers hold calls ($265.0k notional), 1 hold puts ($1.3m).

Trends to Q4 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: 1,182Q3 25: 1,174Q4 25: 1,2471,247Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 20251,174
Q4 20251,247

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 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 25Q3 25: 597 bought or addedQ3 25: 598 cut or sold outQ4 25: 616 bought or addedQ4 25: 569 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024476524
Q2 2024526468
Q3 2024505529
Q4 2024594451
Q1 2025668497
Q2 2025599572
Q3 2025597598
Q4 2025616569

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ1 25 calls: $3.3mQ1 25 puts: $1.1mQ1 25P/C 0.33Q2 25 calls: $3.6mQ2 25 puts: $2.2mQ2 25P/C 0.61Q3 25 calls: $2.1mQ3 25 puts: $4.5mQ3 25P/C 2.11Q4 25 calls: $265.0kQ4 25 puts: $1.3mQ4 25P/C 5.03
Numbers
QuarterCallsPutsP/C
Q1 2025$3.3m$1.1m0.33
Q2 2025$3.6m$2.2m0.61
Q3 2025$2.1m$4.5m2.11
Q4 2025$265.0k$1.3m5.03

Biggest buyers

Corient Private Wealth LP Added +4,228,329+4.2m
3EDGE Asset Management, LP Added +1,244,528+1.2m
Gotham Asset Management, LLC Added +1,111,106+1.1m
Prescott Group Capital Management, L.L.C. Added +1,039,028+1.0m
IEQ CAPITAL, LLC Added +845,816+845.8k
Composition Wealth, LLC Added +771,605+771.6k
BANK OF MONTREAL /CAN/ Added +731,977+732.0k
Capital Investment Advisory Services, LLC New +709,767+709.8k
Perigon Wealth Management, LLC Added +647,512+647.5k
MONETA GROUP INVESTMENT ADVISORS LLC Added +542,365+542.4k

Biggest sellers

TRUIST FINANCIAL CORP Reduced -1,918,167-1.9m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,491,573-1.5m
Synergy Asset Management, LLC Reduced -1,303,047-1.3m
MORGAN STANLEY Reduced -990,206-990.2k
Foundations Investment Advisors, LLC Reduced -830,014-830.0k
Envestnet Portfolio Solutions, Inc. Reduced -384,743-384.7k
CWM, LLC Reduced -372,732-372.7k
Donoghue Forlines LLC Sold out -361,883-361.9k
NorthCoast Asset Management LLC Reduced -357,607-357.6k
PARK AVENUE SECURITIES LLC Sold out -351,638-351.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $265.0k2.9k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.3m14.6k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.13% of their portfolio NEW YORK, NY 23,815,97123.8m $2.2bn $2.2bn 0.13% Reduced -990.2k -990,206
2 BANK OF AMERICA CORP /DE/ 0.11% of their portfolio CHARLOTTE, NC 16,434,50216.4m $1.5bn $1.5bn 0.11% Added +27.5k +27,531
3 LPL Financial LLC 0.33% of their portfolio FORT MILL, SC 13,175,21713.2m $1.2bn $1.2bn 0.33% Reduced -66.7k -66,656
4 UBS Group AG 0.15% of their portfolio ZURICH, V8 8,197,3138.2m $749.1m $749.1m 0.15% Added +268.1k +268,076
5 ROYAL BANK OF CANADA 0.13% of their portfolio TORONTO, A6 8,168,1358.2m $746.4m $746.4m 0.13% Reduced -227.0k -226,972
6 WELLS FARGO & COMPANY/MN 0.12% of their portfolio SAN FRANCISCO, CA 6,985,1427.0m $638.3m $638.3m 0.12% Added +279.8k +279,751
7 Capital Wealth Planning, LLC 2.84% of their portfolio NAPLES, FL 4,808,3454.8m $439.4m $439.4m 2.84% Added +214.2k +214,187
8 STIFEL FINANCIAL CORP 0.38% of their portfolio ST. LOUIS, MO 4,663,4474.7m $426.1m $426.1m 0.38% Reduced -128.4k -128,388
9 AQR CAPITAL MANAGEMENT LLC 0.22% of their portfolio Greenwich, CT 4,617,0744.6m $421.9m $421.9m 0.22% Added +120.0k +119,959
10 Corient Private Wealth LP 0.02% of their portfolio MIAMI, FL 4,409,0134.4m $26.9m $26.9m 0.02% Added +4.2m +4,228,329
11 RAYMOND JAMES FINANCIAL INC 0.12% of their portfolio ST. PETERSBURG, FL 4,186,2424.2m $382.5m $382.5m 0.12% Added +15.6k +15,648
12 IEQ CAPITAL, LLC 1.10% of their portfolio Foster City, CA 4,010,4684.0m $366.5m $366.5m 1.10% Added +845.8k +845,816
13 CAPTRUST FINANCIAL ADVISORS 0.69% of their portfolio RALEIGH, NC 3,942,4053.9m $360.3m $360.3m 0.69% Added +133.9k +133,923
14 Capital International Investors 0.05% of their portfolio Los Angeles, CA 3,190,4263.2m $291.5m $291.5m 0.05% Added +236.0k +235,968
15 ENVESTNET ASSET MANAGEMENT INC 0.08% of their portfolio Berwyn, PA 3,061,0743.1m $279.7m $279.7m 0.08% Reduced -1.5m -1,491,573
16 Cetera Investment Advisers 0.29% of their portfolio SCHAUMBURG, IL 2,861,3812.9m $261.5m $261.5m 0.29% Added +203.1k +203,147
17 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 1.75% of their portfolio Madrid, U3 2,741,3332.7m $251.0m $251.0m 1.75% Added +396.6k +396,574
18 CWM, LLC 0.61% of their portfolio OMAHA, NE 2,471,0782.5m $225.8m $225.8m 0.61% Reduced -372.7k -372,732
19 3EDGE Asset Management, LP 11.61% of their portfolio Naples, FL 2,448,0322.4m $223.7m $223.7m 11.61% Added +1.2m +1,244,528
20 OPPENHEIMER ASSET MANAGEMENT INC. 2.59% of their portfolio NEW YORK, NY 2,305,6312.3m $210.7m $210.7m 2.59% Added +814 +814
21 OSAIC HOLDINGS, INC. 0.30% of their portfolio SCOTTSDALE, AZ 2,233,3522.2m $204.1m $204.1m 0.30% Reduced -175.2k -175,164
22 Ashton Thomas Private Wealth, LLC 4.46% of their portfolio SCOTTSDALE, AZ 1,997,4392.0m $182.5m $182.5m 4.46% Added +12.1k +12,079
23 Cambridge Investment Research Advisors, Inc. 0.41% of their portfolio FAIRFIELD, IA 1,695,7241.7m $155.0m $155.0m 0.41% Added +425.2k +425,185
24 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,587,2161.6m $145.0m $145.0m 0.00% Reduced -94.2k -94,176
25 Composition Wealth, LLC 2.06% of their portfolio LOS ANGELES, CA 1,570,2431.6m $143.5m $143.5m 2.06% Added +771.6k +771,605
26 MONETA GROUP INVESTMENT ADVISORS LLC 1.08% of their portfolio ST LOUIS, MO 1,554,7381.6m $142.1m $142.1m 1.08% Added +542.4k +542,365
27 Rockefeller Capital Management L.P. 0.25% of their portfolio NEW YORK, NY 1,540,7041.5m $140.8m $140.8m 0.25% Reduced -149.9k -149,854
28 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,468,2071.5m $134.2m $134.2m 0.03% Added +186.8k +186,793
29 ASSETMARK, INC 0.27% of their portfolio CONCORD, CA 1,460,4471.5m $133.5m $133.5m 0.27% Added +234.4k +234,448
30 AGF MANAGEMENT LTD 0.57% of their portfolio TORONTO, A6 1,428,1351.4m $130.5m $130.5m 0.57% Reduced -185.4k -185,434
31 ArrowMark Colorado Holdings LLC 2.84% of their portfolio Denver, CO 1,413,0021.4m $129.1m $129.1m 2.84% Reduced -149.7k -149,728
32 Gotham Asset Management, LLC 0.47% of their portfolio NEW YORK, NY 1,402,9781.4m $128.2m $128.2m 0.47% Added +1.1m +1,111,106
33 Creative Planning 0.09% of their portfolio OVERLAND PARK, KS 1,395,0381.4m $127.5m $127.5m 0.09% Added +6.0k +6,034
34 BANK OF MONTREAL /CAN/ 0.05% of their portfolio TORONTO, A6 1,286,2151.3m $117.5m $117.5m 0.05% Added +732.0k +731,977
35 Dakota Wealth Management 1.99% of their portfolio PALM BEACH GARDENS, FL 1,224,4591.2m $111.9m $111.9m 1.99% Reduced -73.8k -73,801
36 Impact Partnership Wealth, LLC 13.64% of their portfolio MARIETTA, GA 1,163,7961.2m $106.3m $106.3m 13.64% Added +100.9k +100,874
37 MBL Wealth, LLC 8.05% of their portfolio CHARLOTTE, NC 1,098,0431.1m $100.3m $100.3m 8.05% Added +31.0k +31,008
38 Prescott Group Capital Management, L.L.C. 9.00% of their portfolio Tulsa, OK 1,059,7081.1m $96.8m $96.8m 9.00% Added +1.0m +1,039,028
39 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 1,056,4381.1m $96.5m $96.5m 0.06% Added +28.2k +28,218
40 Sandhill Capital Partners LLC 6.45% of their portfolio BUFFALO, NY 990,791990.8k $90.5m $90.5m 6.45% Added +60.9k +60,851
41 Randolph Co Inc 8.47% of their portfolio Cincinnati, OH 967,116967.1k $88.4m $88.4m 8.47% Added +530.1k +530,150
42 Foundations Investment Advisors, LLC 1.09% of their portfolio PHOENIX, AZ 912,502912.5k $83.4m $83.4m 1.09% Reduced -830.0k -830,014
43 TRUIST FINANCIAL CORP 0.11% of their portfolio CHARLOTTE, NC 907,445907.4k $82.9m $82.9m 0.11% Reduced -1.9m -1,918,167
44 EAGLE CAPITAL MANAGEMENT LLC 0.25% of their portfolio New York, NY 880,977881.0k $80.5m $80.5m 0.25% Added +6.6k +6,585
45 Mariner, LLC 0.10% of their portfolio Overland Park, KS 878,240878.2k $80.3m $80.3m 0.10% Added +137.0k +136,958
46 Private Advisor Group, LLC 0.37% of their portfolio MORRISTOWN, NJ 850,601850.6k $77.7m $77.7m 0.37% Reduced -149.3k -149,257
47 Valence8 US LP 22.59% of their portfolio Cambridge, MA 834,451834.5k $76.3m $76.3m 22.59% Added +417.2k +417,200
48 SPROTT INC. 2.72% of their portfolio TORONTO, A6 830,949830.9k $75.9m $75.9m 2.72% Added +47.0k +47,028
49 MML INVESTORS SERVICES, LLC 0.17% of their portfolio SPRINGFIELD, MA 774,549774.5k $70.8m $70.8m 0.17% Added +31.7k +31,720
50 COMMONWEALTH EQUITY SERVICES, LLC 0.09% of their portfolio WALTHAM, MA 763,768763.8k $69.8m $69.8m 0.09% Added +249.2k +249,194
51 AXXCESS WEALTH MANAGEMENT, LLC 1.22% of their portfolio CARLSBAD, CA 750,239750.2k $68.6m $68.6m 1.22% Reduced -160.3k -160,340
52 MERCER GLOBAL ADVISORS INC /ADV 0.10% of their portfolio DENVER, CO 738,347738.3k $67.5m $67.5m 0.10% Added +104.8k +104,849
53 First Eagle Investment Management, LLC 0.11% of their portfolio NEW YORK, NY 712,283712.3k $65.1m $65.1m 0.11% Added +311.6k +311,567
54 Capital Investment Advisory Services, LLC 4.59% of their portfolio RALEIGH, NC 709,767709.8k $64.9m $64.9m 4.59% New
55 Howard Capital Management, LLC 0.83% of their portfolio Alpharetta, GA 703,089703.1k $64.2m $64.2m 0.83% Reduced -229.6k -229,599
56 Baird Financial Group, Inc. 0.10% of their portfolio MILWAUKEE, WI 683,314683.3k $62.4m $62.4m 0.10% Added +21.8k +21,752
57 HighTower Advisors, LLC 0.07% of their portfolio CHICAGO, IL 682,168682.2k $62.3m $62.3m 0.07% Added +91.6k +91,591
58 Permanens Capital L.P. 7.91% of their portfolio NEW YORK, NY 664,112664.1k $60.7m $60.7m 7.91% Added +222.5k +222,472
59 Perigon Wealth Management, LLC 1.08% of their portfolio SAN FRANCISCO, CA 657,660657.7k $60.1m $60.1m 1.08% Added +647.5k +647,512
60 Synergy Asset Management, LLC 5.48% of their portfolio VANCOUVER, WA 576,488576.5k $52.7m $52.7m 5.48% Reduced -1.3m -1,303,047
61 Twelve Points Wealth Management LLC 11.84% of their portfolio CONCORD, MA 575,014575.0k $52.6m $52.6m 11.84% Added +47.1k +47,071
62 Verdence Capital Advisors LLC 3.07% of their portfolio HUNT VALLEY, MD 568,252568.3k $51.9m $51.9m 3.07% Added +22.4k +22,415
63 Acorns Advisers, LLC 0.39% of their portfolio IRVINE, CA 562,960563.0k $51.4m $51.4m 0.39% Added +14.7k +14,738
64 EverSource Wealth Advisors, LLC 1.88% of their portfolio BIRMINGHAM, AL 557,665557.7k $51.0m $51.0m 1.88% Added +194.5k +194,473
65 Capital Asset Advisory Services LLC 2.00% of their portfolio Williamston, MI 543,548543.5k $49.7m $49.7m 2.00% Reduced -189.5k -189,482
66 Northstar Group, Inc. 6.66% of their portfolio NEW YORK, NY 534,815534.8k $48.9m $48.9m 6.66% Added +21.5k +21,512
67 Salomon & Ludwin, LLC 4.29% of their portfolio RICHMOND, VA 531,118531.1k $48.5m $48.5m 4.29% Added +8.8k +8,791
68 Jefferies Financial Group Inc. 0.39% of their portfolio NEW YORK, NY 522,383522.4k $47.7m $47.7m 0.39% Added +18.8k +18,845
69 EP Wealth Advisors, LLC 0.25% of their portfolio TORRANCE, CA 520,940520.9k $47.6m $47.6m 0.25% First filing
70 Hibernia Wealth Partners, LLC 14.25% of their portfolio BATON ROUGE, LA 518,073518.1k $47.3m $47.3m 14.25% Added +250.4k +250,446
71 Steward Partners Investment Advisory, LLC 0.26% of their portfolio STAMFORD, CT 518,021518.0k $47.3m $47.3m 0.26% Added +126.1k +126,136
72 Focus Partners Wealth 0.05% of their portfolio ST LOUIS, MO 490,507490.5k $44.8m $44.8m 0.05% Added +288.1k +288,101
73 Mirae Asset Global Investments Co., Ltd. 0.12% of their portfolio SEOUL, M5 488,000488.0k $44.6m $44.6m 0.12% Added +285.0k +285,000
74 DIMENSION CAPITAL MANAGEMENT LLC 6.03% of their portfolio Coral Gables, FL 470,880470.9k $43.0m $43.0m 6.03% Reduced -32.7k -32,728
75 Second Half Financial Partners, LLC 19.04% of their portfolio SEBRING, FL 469,315469.3k $42.9m $42.9m 19.04% Unchanged
76 &PARTNERS 0.22% of their portfolio NASHVILLE, TN 466,920466.9k $42.7m $42.7m 0.22% Added +32.9k +32,875
77 Relyea Zuckerberg Hanson LLC 4.27% of their portfolio STAMFORD, CT 462,338462.3k $42.2m $42.2m 4.27% Added +44.0k +43,972
78 CWA Asset Management Group, LLC 1.52% of their portfolio NAPLES, FL 462,029462.0k $42.2m $42.2m 1.52% Reduced -55.9k -55,931
79 OPPENHEIMER & CO INC 0.60% of their portfolio NEW YORK, NY 460,727460.7k $42.1m $42.1m 0.60% Added +178.2k +178,232
80 Bell Bank 1.72% of their portfolio FARGO, ND 441,486441.5k $40.3m $40.3m 1.72% Added +1.4k +1,374
81 Sicart Associates LLC 10.66% of their portfolio NEW YORK, NY 439,682439.7k $40.2m $40.2m 10.66% Added +8.0k +8,000
82 Apriem Advisors 3.67% of their portfolio IRVINE, CA 437,425437.4k $40.0m $40.0m 3.67% Added +25.2k +25,154
83 McGuire Investment Group, LLC 4.26% of their portfolio WAKEFIELD, RI 436,252436.3k $39.9m $39.9m 4.26% Added +98.4k +98,442
84 Advisory Services Network, LLC 0.56% of their portfolio ATLANTA, GA 435,435435.4k $39.8m $39.8m 0.56% Reduced -28.4k -28,411
85 Gradient Investments LLC 0.62% of their portfolio ARDEN HILLS, MN 428,794428.8k $39.2m $39.2m 0.62% Added +62.6k +62,596
86 Running Point Capital Advisors, LLC 10.53% of their portfolio EL SEGUNDO, CA 422,689422.7k $38.6m $38.6m 10.53% Reduced -142.8k -142,753
87 Sollinda Capital Management LLC 9.79% of their portfolio HICKORY, NC 419,612419.6k $38.3m $38.3m 9.79% Added +43.7k +43,688
88 12th Street Asset Management Company, LLC 6.20% of their portfolio Nashville, TN 411,463411.5k $37.6m $37.6m 6.20% Reduced -183.5k -183,508
89 B. Riley Wealth Advisors, Inc. 1.77% of their portfolio MEMPHIS, TN 410,061410.1k $37.5m $37.5m 1.77% Added +13.6k +13,568
90 Farther Finance Advisors, LLC 0.40% of their portfolio SAN FRANCISCO, CA 407,901407.9k $37.3m $37.3m 0.40% Added +97.3k +97,343
91 Rehmann Capital Advisory Group 1.94% of their portfolio LANSING, MI 406,717406.7k $37.2m $37.2m 1.94% Added +41.0k +40,956
92 SCOTIA CAPITAL INC. 0.15% of their portfolio TORONTO, A6 396,674396.7k $36.2m $36.2m 0.15% Reduced -82.5k -82,508
93 Cypress Capital, LLC 10.15% of their portfolio FRANKLIN, TN 396,462396.5k $36.2m $36.2m 10.15% Added +46.9k +46,901
94 NATIXIS ADVISORS, LLC 0.05% of their portfolio Boston, MA 395,362395.4k $36.1m $36.1m 0.05% Added +20.7k +20,657
95 Brookstone Capital Management 0.41% of their portfolio WHEATON, IL 392,883392.9k $35.9m $35.9m 0.41% Reduced -55.3k -55,260
96 D.A. DAVIDSON & CO. 0.22% of their portfolio GREAT FALLS, MT 392,731392.7k $35.9m $35.9m 0.22% Added +136.2k +136,215
97 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 392,520392.5k $35.9m $35.9m 0.01% Added +150.2k +150,210
98 RFG Advisory, LLC 0.67% of their portfolio BIRMINGHAM, AL 391,021391.0k $35.7m $35.7m 0.67% Reduced -9.3k -9,318
99 Inscription Capital, LLC 3.62% of their portfolio HOUSTON, TX 385,448385.4k $35.2m $35.2m 3.62% Added +137.1k +137,146
100 Capital World Investors 0.00% of their portfolio LOS ANGELES, CA 381,762381.8k $34.9m $34.9m 0.00% Added +99.7k +99,718