Vault-13

SPDR SER TR BIL

BLOOMBERG 1-3 MO · ETP · CUSIP 78468R663

1,324 institutional holders +77 vs Q4 2025
317,594,352317.6m shares reported held*
$29.1bnreported value*
156 new 586 added 481 reduced 79 sold out net bought ≈ $6.9bn (+71.0m 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 ($127.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $91.63. Options: 2 managers hold calls ($2.5m notional), 2 hold puts ($4.9m).

Trends to Q1 2026

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: 1,247Q1 26: 1,3241,324Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q1 20261,324

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 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 25Q2 25: 599 bought or addedQ2 25: 572 cut or sold outQ3 25: 597 bought or addedQ3 25: 598 cut or sold outQ3 25Q4 25: 616 bought or addedQ4 25: 569 cut or sold outQ1 26: 742 bought or addedQ1 26: 560 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024526468
Q3 2024505529
Q4 2024594451
Q1 2025668497
Q2 2025599572
Q3 2025597598
Q4 2025616569
Q1 2026742560

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ2 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 5.03Q1 26 calls: $2.5mQ1 26 puts: $4.9mQ1 26P/C 1.95
Numbers
QuarterCallsPutsP/C
Q2 2025$3.6m$2.2m0.61
Q3 2025$2.1m$4.5m2.11
Q4 2025$265.0k$1.3m5.03
Q1 2026$2.5m$4.9m1.95

Biggest buyers

Howard Capital Management, LLC Added +12,057,490+12.1m
MORGAN STANLEY Added +6,642,801+6.6m
3EDGE Asset Management, LP Added +5,342,129+5.3m
ASSETMARK, INC Added +4,246,874+4.2m
ENVESTNET ASSET MANAGEMENT INC Added +4,235,117+4.2m
LPL Financial LLC Added +3,601,119+3.6m
WESTWOOD HOLDINGS GROUP INC Added +3,370,946+3.4m
BANK OF AMERICA CORP /DE/ Added +2,438,044+2.4m
Counterpoint Mutual Funds LLC New +2,206,436+2.2m
Horizon Investments, LLC Added +2,037,332+2.0m

Biggest sellers

Corient Private Wealth LP Reduced -4,153,664-4.2m
Impact Partnership Wealth, LLC Reduced -976,912-976.9k
BANK OF MONTREAL /CAN/ Reduced -948,983-949.0k
Capital Wealth Planning, LLC Reduced -826,097-826.1k
Gotham Asset Management, LLC Reduced -802,364-802.4k
BlackRock, Inc. Reduced -651,978-652.0k
EAGLE CAPITAL MANAGEMENT LLC Reduced -618,365-618.4k
Prescott Group Capital Management, L.L.C. Reduced -543,695-543.7k
Randolph Co Inc Reduced -439,762-439.8k
Nutshell Asset Management Ltd Reduced -317,894-317.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.3m24.7k shares
CITADEL ADVISORS LLC New $265.8k2.9k shares

Biggest puts

CITADEL ADVISORS LLC New $4.4m48.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $522.3k5.7k 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 MORGAN STANLEY 0.17% of their portfolio NEW YORK, NY 30,458,77230.5m $2.8bn $2.8bn 0.17% Added +6.6m +6,642,801
2 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 18,872,54618.9m $1.7bn $1.7bn 0.13% Added +2.4m +2,438,044
3 LPL Financial LLC 0.41% of their portfolio FORT MILL, SC 16,776,33616.8m $1.5bn $1.5bn 0.41% Added +3.6m +3,601,119
4 Howard Capital Management, LLC 19.13% of their portfolio Alpharetta, GA 12,760,57912.8m $1.2bn $1.2bn 19.13% Added +12.1m +12,057,490
5 UBS Group AG 0.13% of their portfolio ZURICH, V8 8,301,1018.3m $760.7m $760.7m 0.13% Added +103.8k +103,788
6 WELLS FARGO & COMPANY/MN 0.15% of their portfolio SAN FRANCISCO, CA 8,195,3028.2m $751.0m $751.0m 0.15% Added +1.2m +1,210,160
7 ROYAL BANK OF CANADA 0.14% of their portfolio TORONTO, A6 8,064,0818.1m $739.0m $739.0m 0.14% Reduced -104.1k -104,054
8 3EDGE Asset Management, LP 34.51% of their portfolio Naples, FL 7,790,1617.8m $713.9m $713.9m 34.51% Added +5.3m +5,342,129
9 ENVESTNET ASSET MANAGEMENT INC 0.18% of their portfolio Berwyn, PA 7,296,1917.3m $668.6m $668.6m 0.18% Added +4.2m +4,235,117
10 ASSETMARK, INC 1.07% of their portfolio CONCORD, CA 5,707,3215.7m $523.0m $523.0m 1.07% Added +4.2m +4,246,874
11 RAYMOND JAMES FINANCIAL INC 0.15% of their portfolio ST. PETERSBURG, FL 5,379,9135.4m $493.0m $493.0m 0.15% Added +1.2m +1,193,671
12 AQR CAPITAL MANAGEMENT LLC 0.21% of their portfolio Greenwich, CT 4,994,2835.0m $457.7m $457.7m 0.21% Added +377.2k +377,209
13 STIFEL FINANCIAL CORP 0.40% of their portfolio ST. LOUIS, MO 4,797,9014.8m $439.7m $439.7m 0.40% Added +134.5k +134,454
14 IEQ CAPITAL, LLC 2.03% of their portfolio Foster City, CA 4,777,1994.8m $437.8m $437.8m 2.03% Added +766.7k +766,731
15 Cetera Investment Advisers 0.42% of their portfolio SCHAUMBURG, IL 4,348,9514.3m $398.5m $398.5m 0.42% Added +1.5m +1,487,570
16 Capital Wealth Planning, LLC 2.01% of their portfolio NAPLES, FL 3,982,2484.0m $364.9m $364.9m 2.01% Reduced -826.1k -826,097
17 CAPTRUST FINANCIAL ADVISORS 0.62% of their portfolio RALEIGH, NC 3,886,5613.9m $356.2m $356.2m 0.62% Reduced -55.8k -55,844
18 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 2.28% of their portfolio Madrid, U3 3,564,3583.6m $325.1m $325.1m 2.28% Added +823.0k +823,025
19 WESTWOOD HOLDINGS GROUP INC 2.34% of their portfolio DALLAS, TX 3,507,8183.5m $321.5m $321.5m 2.34% Added +3.4m +3,370,946
20 AMERIPRISE FINANCIAL INC 0.06% of their portfolio MINNEAPOLIS, MN 2,937,1162.9m $269.2m $269.2m 0.06% Added +1.5m +1,468,909
21 Capital International Investors 0.06% of their portfolio Los Angeles, CA 2,911,0662.9m $266.8m $266.8m 0.06% Reduced -279.4k -279,360
22 Cambridge Investment Research Advisors, Inc. 0.63% of their portfolio FAIRFIELD, IA 2,648,9172.6m $242.7m $242.7m 0.63% Added +953.2k +953,193
23 CWM, LLC 0.63% of their portfolio OMAHA, NE 2,630,8282.6m $241.1m $241.1m 0.63% Added +159.8k +159,750
24 OSAIC HOLDINGS, INC. 0.32% of their portfolio SCOTTSDALE, AZ 2,398,2782.4m $219.8m $219.8m 0.32% Added +164.9k +164,926
25 OPPENHEIMER ASSET MANAGEMENT INC. 2.40% of their portfolio NEW YORK, NY 2,293,0522.3m $210.1m $210.1m 2.40% Reduced -12.6k -12,579
26 Counterpoint Mutual Funds LLC 30.36% of their portfolio San Diego, CA 2,206,4362.2m $202.2m $202.2m 30.36% New
27 Horizon Investments, LLC 2.15% of their portfolio Charlotte, NC 2,106,4722.1m $191.9m $191.9m 2.15% Added +2.0m +2,037,332
28 AGF MANAGEMENT LTD 0.84% of their portfolio TORONTO, A6 2,042,0492.0m $187.1m $187.1m 0.84% Added +613.9k +613,914
29 Composition Wealth, LLC 2.51% of their portfolio LOS ANGELES, CA 1,995,8912.0m $182.9m $182.9m 2.51% Added +425.6k +425,648
30 Ashton Thomas Private Wealth, LLC 4.16% of their portfolio SCOTTSDALE, AZ 1,917,8921.9m $175.8m $175.8m 4.16% Reduced -79.5k -79,547
31 MONETA GROUP INVESTMENT ADVISORS LLC 1.20% of their portfolio ST LOUIS, MO 1,746,8171.7m $160.1m $160.1m 1.20% Added +192.1k +192,079
32 Concurrent Investment Advisors, LLC 1.70% of their portfolio Tampa, FL 1,697,5491.7m $155.6m $155.6m 1.70% Added +1.5m +1,484,628
33 Richard Bernstein Advisors LLC 4.23% of their portfolio NEW YORK, NY 1,592,6521.6m $146.0m $146.0m 4.23% Added +1.6m +1,592,648
34 Rockefeller Capital Management L.P. 0.24% of their portfolio NEW YORK, NY 1,507,1471.5m $138.1m $138.1m 0.24% Reduced -33.6k -33,557
35 Equitable Holdings, Inc. 0.85% of their portfolio NEW YORK, NY 1,449,0551.4m $132.4m $132.4m 0.85% Added +1.1m +1,089,312
36 Creative Planning 0.09% of their portfolio OVERLAND PARK, KS 1,410,9211.4m $129.3m $129.3m 0.09% Added +15.9k +15,883
37 First Eagle Investment Management, LLC 0.21% of their portfolio NEW YORK, NY 1,363,4101.4m $124.9m $124.9m 0.21% Added +651.1k +651,127
38 MBL Wealth, LLC 9.15% of their portfolio CHARLOTTE, NC 1,318,6421.3m $120.8m $120.8m 9.15% Added +220.6k +220,599
39 Dakota Wealth Management 2.57% of their portfolio PALM BEACH GARDENS, FL 1,296,0941.3m $118.8m $118.8m 2.57% Added +71.6k +71,635
40 ArrowMark Colorado Holdings LLC 3.09% of their portfolio Denver, CO 1,270,0231.3m $116.4m $116.4m 3.09% Reduced -143.0k -142,979
41 Sandhill Capital Partners LLC 9.90% of their portfolio BUFFALO, NY 1,256,3131.3m $115.1m $115.1m 9.90% Added +265.5k +265,522
42 Atria Investments, Inc 1.29% of their portfolio Charlotte, NC 1,256,1921.3m $115.1m $115.1m 1.29% Added +1.1m +1,074,082
43 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.07% of their portfolio MILWAUKEE, WI 1,183,9121.2m $108.5m $108.5m 0.07% Added +127.5k +127,474
44 Mariner, LLC 0.13% of their portfolio Overland Park, KS 1,179,4371.2m $108.1m $108.1m 0.13% Added +301.2k +301,197
45 TRUIST FINANCIAL CORP 0.14% of their portfolio CHARLOTTE, NC 1,138,5001.1m $104.3m $104.3m 0.14% Added +231.1k +231,055
46 Foundations Investment Advisors, LLC 1.23% of their portfolio PHOENIX, AZ 1,083,6181.1m $99.3m $99.3m 1.23% Added +171.1k +171,116
47 Synergy Asset Management, LLC 10.17% of their portfolio VANCOUVER, WA 1,044,9931.0m $95.8m $95.8m 10.17% Added +468.5k +468,505
48 BAILARD, INC. 2.14% of their portfolio Foster City, CA 1,016,2571.0m $93.1m $93.1m 2.14% Added +952.2k +952,234
49 Permanens Capital L.P. 11.66% of their portfolio NEW YORK, NY 987,782987.8k $90.5m $90.5m 11.66% Added +323.7k +323,670
50 NATIONAL BANK OF CANADA /FI/ 0.09% of their portfolio MONTREAL, A8 944,219944.2k $86.5m $86.5m 0.09% Added +564.5k +564,490
51 BlackRock, Inc. 0.00% of their portfolio New York, NY 935,238935.2k $85.7m $85.7m 0.00% Reduced -652.0k -651,978
52 Private Advisor Group, LLC 0.38% of their portfolio MORRISTOWN, NJ 886,723886.7k $81.3m $81.3m 0.38% Added +36.1k +36,122
53 SPROTT INC. 2.44% of their portfolio TORONTO, A6 878,051878.1k $80.5m $80.5m 2.44% Added +47.1k +47,102
54 MERCER GLOBAL ADVISORS INC /ADV 0.11% of their portfolio DENVER, CO 846,918846.9k $77.6m $77.6m 0.11% Added +108.6k +108,571
55 AXXCESS WEALTH MANAGEMENT, LLC 2.45% of their portfolio CARLSBAD, CA 833,469833.5k $76.4m $76.4m 2.45% Added +83.2k +83,230
56 RITHOLTZ WEALTH MANAGEMENT 1.32% of their portfolio NEW YORK, NY 830,484830.5k $76.1m $76.1m 1.32% Added +799.2k +799,191
57 Brookstone Capital Management 0.76% of their portfolio WHEATON, IL 725,320725.3k $66.5m $66.5m 0.76% Added +332.4k +332,437
58 Perigon Wealth Management, LLC 1.16% of their portfolio SAN FRANCISCO, CA 696,077696.1k $63.8m $63.8m 1.16% Added +38.4k +38,417
59 Mirae Asset Global Investments Co., Ltd. 0.18% of their portfolio SEOUL, M5 691,000691.0k $63.3m $63.3m 0.18% Added +203.0k +203,000
60 Convergence Financial, LLC 6.54% of their portfolio COLUMBIA, MO 673,338673.3k $61.7m $61.7m 6.54% Added +324.1k +324,108
61 Valence8 US LP 21.09% of their portfolio Cambridge, MA 658,302658.3k $60.3m $60.3m 21.09% Reduced -176.1k -176,149
62 Scharf Investments, LLC 1.83% of their portfolio LOS GATOS, CA 648,714648.7k $59.4m $59.4m 1.83% Added +646.5k +646,518
63 COMMONWEALTH EQUITY SERVICES, LLC 0.08% of their portfolio WALTHAM, MA 644,277644.3k $59.0m $59.0m 0.08% Reduced -119.5k -119,491
64 ALETHEA CAPITAL MANAGEMENT, LLC 31.51% of their portfolio MERCER ISLAND, WA 640,038640.0k $58.7m $58.7m 31.51% Added +403.4k +403,427
65 Capital Asset Advisory Services LLC 2.22% of their portfolio Williamston, MI 633,113633.1k $58.0m $58.0m 2.22% Added +89.6k +89,565
66 Baird Financial Group, Inc. 0.09% of their portfolio MILWAUKEE, WI 614,478614.5k $56.3m $56.3m 0.09% Reduced -68.8k -68,836
67 Capital Investment Advisory Services, LLC 4.07% of their portfolio RALEIGH, NC 609,138609.1k $55.8m $55.8m 4.07% Reduced -100.6k -100,629
68 Gotham Asset Management, LLC 0.17% of their portfolio NEW YORK, NY 600,614600.6k $55.0m $55.0m 0.17% Reduced -802.4k -802,364
69 Verdence Capital Advisors LLC 3.14% of their portfolio HUNT VALLEY, MD 587,776587.8k $53.9m $53.9m 3.14% Added +19.5k +19,524
70 Janney Montgomery Scott LLC 0.13% of their portfolio PHILADELPHIA, PA 586,118586.1k $53.7m $53.7m 0.13% Added +397.4k +397,418
71 Acorns Advisers, LLC 0.40% of their portfolio IRVINE, CA 585,347585.3k $53.6m $53.6m 0.40% Added +22.4k +22,387
72 Cullen Capital Management, LLC 0.54% of their portfolio New York, NY 577,062577.1k $52.9m $52.9m 0.54% Added +565.8k +565,791
73 Focus Partners Wealth 0.06% of their portfolio ST LOUIS, MO 576,184576.2k $52.8m $52.8m 0.06% Added +85.7k +85,677
74 Integrated Advisors Network LLC 2.74% of their portfolio DALLAS, TX 569,175569.2k $52.2m $52.2m 2.74% Added +269.4k +269,448
75 Cerity Partners LLC 0.07% of their portfolio NEW YORK, NY 568,897568.9k $52.1m $52.1m 0.07% Added +460.3k +460,310
76 St. Louis Financial Planners Asset Management, LLC 29.16% of their portfolio CHESTERFIELD, MO 561,347561.3k $51.4m $51.4m 29.16% Added +408.9k +408,873
77 Jefferies Financial Group Inc. 0.63% of their portfolio NEW YORK, NY 559,760559.8k $51.3m $51.3m 0.63% Added +37.4k +37,377
78 MML INVESTORS SERVICES, LLC 0.14% of their portfolio SPRINGFIELD, MA 550,043550.0k $50.4m $50.4m 0.14% Reduced -224.5k -224,506
79 Portside Wealth Group, LLC 6.69% of their portfolio Provo, UT 537,421537.4k $49.2m $49.2m 6.69% Added +179.7k +179,723
80 OPPENHEIMER & CO INC 0.60% of their portfolio NEW YORK, NY 536,020536.0k $49.1m $49.1m 0.60% Added +75.3k +75,293
81 BRASADA CAPITAL MANAGEMENT, LP 8.99% of their portfolio HOUSTON, TX 535,375535.4k $49.0m $49.0m 8.99% Added +218.6k +218,606
82 Hibernia Wealth Partners, LLC 14.36% of their portfolio BATON ROUGE, LA 529,954530.0k $48.6m $48.6m 14.36% Added +11.9k +11,881
83 Salomon & Ludwin, LLC 4.33% of their portfolio RICHMOND, VA 529,388529.4k $48.5m $48.5m 4.33% Reduced -1.7k -1,730
84 Randolph Co Inc 4.62% of their portfolio Cincinnati, OH 527,354527.4k $48.3m $48.3m 4.62% Reduced -439.8k -439,762
85 Northstar Group, Inc. 6.80% of their portfolio NEW YORK, NY 525,029525.0k $48.1m $48.1m 6.80% Reduced -9.8k -9,786
86 Merit Financial Group, LLC 0.35% of their portfolio ALPHARETTA, GA 517,551517.6k $47.4m $47.4m 0.35% Added +194.8k +194,824
87 Capital Research Global Investors 0.01% of their portfolio Los Angeles, CA 516,253516.3k $47.3m $47.3m 0.01% Added +466.9k +466,868
88 Prescott Group Capital Management, L.L.C. 4.71% of their portfolio Tulsa, OK 516,013516.0k $47.3m $47.3m 4.71% Reduced -543.7k -543,695
89 HAMILTON CAPITAL PARTNERS, LLC 14.49% of their portfolio ATLANTA, GA 506,719506.7k $46.4m $46.4m 14.49% Added +435.6k +435,645
90 Relyea Zuckerberg Hanson LLC 4.66% of their portfolio STAMFORD, CT 505,482505.5k $46.3m $46.3m 4.66% Added +43.1k +43,144
91 Sollinda Capital Management LLC 11.12% of their portfolio HICKORY, NC 499,382499.4k $45.8m $45.8m 11.12% Added +79.8k +79,770
92 Proficio Capital Partners LLC 2.43% of their portfolio NEWTON, MA 496,430496.4k $45.5m $45.5m 2.43% New
93 George Kaiser Family Foundation 5.14% of their portfolio TULSA, OK 495,333495.3k $45.4m $45.4m 5.14% New
94 McGuire Investment Group, LLC 5.07% of their portfolio WAKEFIELD, RI 489,496489.5k $44.9m $44.9m 5.07% Added +53.2k +53,244
95 EverSource Wealth Advisors, LLC 1.34% of their portfolio BIRMINGHAM, AL 479,367479.4k $43.9m $43.9m 1.34% Reduced -78.3k -78,298
96 Capital World Investors 0.01% of their portfolio LOS ANGELES, CA 478,151478.2k $43.8m $43.8m 0.01% Added +96.4k +96,389
97 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 472,232472.2k $43.3m $43.3m 0.02% Added +291.1k +291,094
98 Apriem Advisors 4.11% of their portfolio IRVINE, CA 470,068470.1k $43.1m $43.1m 4.11% Added +32.6k +32,643
99 Second Half Financial Partners, LLC 19.36% of their portfolio SEBRING, FL 469,315469.3k $43.0m $43.0m 19.36% Unchanged
100 NewEdge Advisors, LLC 0.15% of their portfolio NEW ORLEANS, LA 461,216461.2k $42.3m $42.3m 0.15% Added +79.5k +79,464