Vault-13

SPDR SER TR TFI

NUVEEN BLMBRG MU · ETP · CUSIP 78468R721

300 institutional holders -5 vs Q2 2025
63,069,48763.1m shares reported held*
$2.9bnreported value*
28 new 110 added 96 reduced 26 sold out net bought ≈ $54.4m (+1.2m 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 ($531.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $45.57. Options: 1 managers hold calls ($6.2m notional), 0 hold puts (—).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 316Q4 22: 320Q1 23: 300Q2 23: 311Q3 23: 296Q4 23: 315Q1 24: 297Q2 24: 298Q3 24: 302Q4 24: 324Q1 25: 311Q2 25: 305Q3 25: 300300Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022316
Q4 2022320
Q1 2023300
Q2 2023311
Q3 2023296
Q4 2023315
Q1 2024297
Q2 2024298
Q3 2024302
Q4 2024324
Q1 2025311
Q2 2025305
Q3 2025300

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 155 bought or addedQ4 23: 144 cut or sold outQ1 24: 121 bought or addedQ1 24: 151 cut or sold outQ1 24Q2 24: 126 bought or addedQ2 24: 140 cut or sold outQ3 24: 125 bought or addedQ3 24: 145 cut or sold outQ3 24Q4 24: 147 bought or addedQ4 24: 134 cut or sold outQ1 25: 125 bought or addedQ1 25: 156 cut or sold outQ1 25Q2 25: 128 bought or addedQ2 25: 168 cut or sold outQ3 25: 138 bought or addedQ3 25: 122 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023155144
Q1 2024121151
Q2 2024126140
Q3 2024125145
Q4 2024147134
Q1 2025125156
Q2 2025128168
Q3 2025138122

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $6.2mQ3 25 puts: $0Q3 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$6.2m$00.00

Biggest buyers

WELLINGTON MANAGEMENT GROUP LLP New +870,000+870.0k
JPMORGAN CHASE & CO Added +528,931+528.9k
ENVESTNET ASSET MANAGEMENT INC Added +303,938+303.9k
BANK OF MONTREAL /CAN/ Added +253,719+253.7k
PARK AVENUE SECURITIES LLC Added +200,736+200.7k
ACT Advisors, LLC. New +184,387+184.4k
LPL Financial LLC Added +177,040+177.0k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +124,998+125.0k
Cullen/Frost Bankers, Inc. Added +118,540+118.5k
Sanctuary Advisors, LLC Added +112,408+112.4k

Biggest sellers

Betterment LLC Reduced -513,287-513.3k
Fisher Asset Management, LLC Reduced -418,466-418.5k
Arax Advisory Partners Sold out -352,771-352.8k
JANE STREET GROUP, LLC Reduced -304,184-304.2k
Avidian Wealth Enterprises, LLC Reduced -212,541-212.5k
Sterling Financial Group, Inc. Sold out -175,675-175.7k
RENAISSANCE TECHNOLOGIES LLC Reduced -121,400-121.4k
CLIFTONLARSONALLEN WEALTH ADVISORS, LLC Reduced -85,264-85.3k
WELLS FARGO & COMPANY/MN Reduced -52,738-52.7k
RAYMOND JAMES FINANCIAL INC Reduced -45,966-46.0k

Biggest calls

ROBINSON CAPITAL MANAGEMENT, LLC New $6.2m135.5k shares

Biggest puts

None

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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.05% of their portfolio CHARLOTTE, NC 13,605,51313.6m $620.0m $620.0m 0.05% Added +34.6k +34,628
2 Betterment LLC 1.14% of their portfolio NEW YORK, NY 12,614,22812.6m $574.8m $574.8m 1.14% Reduced -513.3k -513,287
3 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.16% of their portfolio MILWAUKEE, WI 5,226,8175.2m $238.2m $238.2m 0.16% Added +125.0k +124,998
4 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,562,1373.6m $162.3m $162.3m 0.01% Added +63.3k +63,326
5 Fisher Asset Management, LLC 0.04% of their portfolio PLANO, TX 2,687,8632.7m $122.5m $122.5m 0.04% Reduced -418.5k -418,466
6 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 2,132,8082.1m $97.2m $97.2m 0.03% Added +303.9k +303,938
7 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 1,926,0941.9m $87.8m $87.8m 0.04% Added +253.7k +253,719
8 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,496,1911.5m $68.2m $68.2m 0.02% Added +177.0k +177,040
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,291,9741.3m $58.9m $58.9m 0.00% Added +528.9k +528,931
10 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 870,000870.0k $39.6m $39.6m 0.01% New
11 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 839,018839.0k $38.2m $38.2m 0.01% Reduced -46.0k -45,966
12 Financial Engines Advisors L.L.C. 0.06% of their portfolio SANTA CLARA, CA 733,308733.3k $33.4m $33.4m 0.06% Added +5.1k +5,089
13 Austin Private Wealth, LLC 2.54% of their portfolio Austin, TX 725,231725.2k $33.0m $33.0m 2.54% Added +72.4k +72,444
14 ASSETMARK, INC 0.07% of their portfolio CONCORD, CA 686,129686.1k $31.3m $31.3m 0.07% Added +17.9k +17,949
15 Wealthcare Advisory Partners LLC 0.56% of their portfolio WEST CHESTER, PA 586,785586.8k $26.7m $26.7m 0.56% Reduced -44.6k -44,629
16 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 495,651495.7k $22.6m $22.6m 0.00% Reduced -52.7k -52,738
17 UBS Group AG 0.00% of their portfolio ZURICH, V8 486,231486.2k $22.2m $22.2m 0.00% Reduced -19.6k -19,553
18 Foster Group, Inc. 0.68% of their portfolio WEST DES MOINES, IA 473,601473.6k $21.6m $21.6m 0.68% Reduced -6.8k -6,821
19 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 445,306445.3k $20.3m $20.3m 0.00% Reduced -25.0k -24,974
20 One Capital Management, LLC 0.64% of their portfolio WESTLAKE VILLAGE, CA 440,744440.7k $20.1m $20.1m 0.64% Reduced -21.0k -21,036
21 Revolve Wealth Partners, LLC 2.30% of their portfolio Hackensack, NJ 421,438421.4k $19.2m $19.2m 2.30% Added +9.1k +9,093
22 Allworth Financial LP 0.08% of their portfolio FOLSOM, CA 392,788392.8k $17.9m $17.9m 0.08% Reduced -23.0k -22,951
23 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 390,203390.2k $17.8m $17.8m 0.02% Added +53.2k +53,236
24 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 340,906340.9k $15.5m $15.5m 0.02% Added +55.9k +55,859
25 PARK AVENUE SECURITIES LLC 0.12% of their portfolio NEW YORK, NY 337,212337.2k $15.4m $15.4m 0.12% Added +200.7k +200,736
26 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 323,323323.3k $14.6m $14.6m 0.02% Reduced -3.7k -3,686
27 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 306,189306.2k $14.0m $14.0m 0.02% Added +3.0k +3,019
28 STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio MADISON, WI 285,800285.8k $13.0m $13.0m 0.03% Unchanged
29 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.21% of their portfolio MINNEAPOLIS, MN 285,600285.6k $13.0m $13.0m 0.21% Reduced -85.3k -85,264
30 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 250,410250.4k $11.4m $11.4m 0.01% Reduced -16.8k -16,826
31 JFS WEALTH ADVISORS, LLC 0.64% of their portfolio HERMITAGE, PA 239,572239.6k $10.9m $10.9m 0.64% Reduced -11.8k -11,848
32 HBK Sorce Advisory LLC 0.26% of their portfolio ERIE, PA 228,176228.2k $10.4m $10.4m 0.26% Reduced -18.8k -18,791
33 Mariner, LLC 0.01% of their portfolio Overland Park, KS 222,886222.9k $10.2m $10.2m 0.01% Reduced -527 -527
34 Cullen/Frost Bankers, Inc. 0.12% of their portfolio San Antonio, TX 219,887219.9k $10.0m $10.0m 0.12% Added +118.5k +118,540
35 Avidian Wealth Enterprises, LLC 0.35% of their portfolio Houston, TX 203,691203.7k $9.3m $9.3m 0.35% Reduced -212.5k -212,541
36 TD PRIVATE CLIENT WEALTH LLC 0.20% of their portfolio NEW YORK, NY 198,474198.5k $9.0m $9.0m 0.20% Added +46.6k +46,592
37 WEALTHCARE CAPITAL MANAGEMENT LLC 0.86% of their portfolio RICHMOND, VA 185,651185.7k $8.5m $8.5m 0.86% Added +31.8k +31,816
38 ACT Advisors, LLC. 3.39% of their portfolio ASHEVILLE, NC 184,387184.4k $8.4m $8.4m 3.39% New
39 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 174,171174.2k $7.9m $7.9m 0.02% Reduced -3.0k -2,962
40 Crestwood Advisors Group, LLC 0.13% of their portfolio BOSTON, MA 169,276169.3k $7.7m $7.7m 0.13% Reduced -28.2k -28,232
41 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 169,075169.1k $7.7m $7.7m 0.02% Added +2.4k +2,405
42 SEEDS INVESTOR LLC 1.60% of their portfolio NEW YORK, NY 166,890166.9k $7.6m $7.6m 1.60% Added +93.2k +93,220
43 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 151,366151.4k $6.9m $6.9m 0.01% Reduced -13.2k -13,222
44 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 149,187149.2k $6.8m $6.8m 0.02% Added +112.4k +112,408
45 Balentine LLC 0.24% of their portfolio ATLANTA, GA 142,282142.3k $6.5m $6.5m 0.24% Added +41.4k +41,364
46 Tenret Co LLC 3.32% of their portfolio TAMPA, FL 140,767140.8k $6.4m $6.4m 3.32% Unchanged
47 &PARTNERS 0.04% of their portfolio NASHVILLE, TN 139,330139.3k $6.3m $6.3m 0.04% Reduced -7.4k -7,438
48 McAdam, LLC 0.31% of their portfolio Philadelphia, PA 138,942138.9k $6.3m $6.3m 0.31% Added +9.9k +9,931
49 MATHER GROUP, LLC. 0.06% of their portfolio CHICAGO, IL 122,909122.9k $5.6m $5.6m 0.06% Reduced -3.5k -3,530
50 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 119,573119.6k $5.4m $5.4m 0.01% Reduced -304.2k -304,184
51 Wealthspire Advisors, LLC 0.03% of their portfolio NEW YORK, NY 116,577116.6k $5.3m $5.3m 0.03% Reduced -19.4k -19,427
52 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 116,539116.5k $5.3m $5.3m 0.00% Reduced -17.1k -17,118
53 COMERICA BANK 0.02% of their portfolio DALLAS, TX 107,722107.7k $4.9m $4.9m 0.02% Added +27.3k +27,268
54 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 103,775103.8k $4.7m $4.7m 0.01% Reduced -3.7k -3,695
55 TruNorth Capital Management, LLC 0.90% of their portfolio KALAMAZOO, MI 100,189100.2k $4.6m $4.6m 0.90% Added +27.5k +27,509
56 COLLECTIVE FAMILY OFFICE LLC 1.05% of their portfolio YORK, PA 95,92295.9k $4.4m $4.4m 1.05% Added +9.4k +9,371
57 Invst, LLC 0.48% of their portfolio INDIANAPOLIS, IN 93,22293.2k $4.2m $4.2m 0.48% Added +37.2k +37,165
58 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 92,36192.4k $4.2m $4.2m 0.00% Reduced -23.6k -23,584
59 Fourth Dimension Wealth, LLC 1.60% of their portfolio MIDDLEBURG HEIGHTS, OH 92,12492.1k $4.2m $4.2m 1.60% Reduced -874 -874
60 Aquire Wealth Advisors, LLC 1.00% of their portfolio Salt Lake City, UT 88,87788.9k $4.1m $4.1m 1.00% Reduced -6.7k -6,691
61 Versant Capital Management, Inc 0.55% of their portfolio PHOENIX, AZ 88,06388.1k $4.0m $4.0m 0.55% Added +1.9k +1,861
62 HHM Wealth Advisors, LLC 0.46% of their portfolio CHATTANOOGA, TN 87,96488.0k $4.0m $4.0m 0.46% Added +205 +205
63 Ackerman Capital Advisors, LLC 0.83% of their portfolio DALLAS, TX 86,66086.7k $3.9m $3.9m 0.83% Unchanged
64 ASHTON THOMAS SECURITIES, LLC 0.54% of their portfolio ROCHESTER, NY 85,35685.4k $3.9m $3.9m 0.54% New
65 PURE PORTFOLIOS HOLDINGS LLC 1.20% of their portfolio LAKE OSWEGO, OR 84,42384.4k $3.8m $3.8m 1.20% Added +5.4k +5,441
66 GREAT VALLEY ADVISOR GROUP, INC. 0.08% of their portfolio WILMINGTON, DE 83,97184.0k $3.8m $3.8m 0.08% Added +17.3k +17,315
67 Towercrest Capital Management 0.58% of their portfolio NEWTOWN, PA 79,41179.4k $3.6m $3.6m 0.58% Added +3.3k +3,254
68 Northeast Financial Group, Inc. 0.90% of their portfolio Allentown, PA 79,15779.2k $3.6m $3.6m 0.90% Added +2.0k +2,013
69 Keebeck Wealth Management 0.41% of their portfolio Chicago, IL 76,70976.7k $3.5m $3.5m 0.41% Added +21.3k +21,294
70 CWM, LLC 0.01% of their portfolio OMAHA, NE 74,19874.2k $3.4m $3.4m 0.01% Reduced -3.3k -3,262
71 Alliance Wealth Management Group 0.75% of their portfolio FLEMINGTON, NJ 73,81473.8k $3.4m $3.4m 0.75% Added +2.8k +2,769
72 Savvy Advisors, Inc. 0.15% of their portfolio NEW YORK, NY 72,20172.2k $3.3m $3.3m 0.15% Added +12.9k +12,878
73 CX Institutional 0.10% of their portfolio AUBURN, IN 71,32871.3k $3.2m $3.2m 0.10% Added +40.8k +40,836
74 Steele Capital Management, Inc. 0.14% of their portfolio DUBUQUE, IA 67,73367.7k $3.1m $3.1m 0.14% Reduced -1.4k -1,359
75 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 66,33166.3k $3.0m $3.0m 0.01% Added +32.8k +32,788
76 Evensky & Katz LLC 0.16% of their portfolio CORAL GABLES, FL 59,22959.2k $2.7m $2.7m 0.16% Added +9.8k +9,837
77 HARBOUR INVESTMENTS, INC. 0.05% of their portfolio MADISON, WI 53,01853.0k $2.4m $2.4m 0.05% Added +17.4k +17,408
78 Beacon Pointe Advisors, LLC 0.02% of their portfolio NEWPORT BEACH, CA 52,46352.5k $2.4m $2.4m 0.02% Reduced -2.0k -2,023
79 MANNING & NAPIER ADVISORS LLC 0.03% of their portfolio Fairport, NY 50,17650.2k $2.3m $2.3m 0.03% New
80 Cornerstone Wealth Management, LLC 0.12% of their portfolio ST. PETERS, MO 48,23748.2k $2.2m $2.2m 0.12% Unchanged
81 SteelPeak Wealth, LLC 0.07% of their portfolio WOODLAND HILLS, CA 46,29346.3k $2.1m $2.1m 0.07% Reduced -14.4k -14,439
82 WealthShield Partners, LLC 0.23% of their portfolio CARY, NC 44,97045.0k $2.0m $2.0m 0.23% Reduced -3.4k -3,350
83 Gradient Investments LLC 0.03% of their portfolio ARDEN HILLS, MN 44,51944.5k $2.0m $2.0m 0.03% Added +22.4k +22,399
84 FIRST NATIONAL CORP /MA/ /ADV 0.38% of their portfolio ROCKLAND, MA 44,29144.3k $2.0m $2.0m 0.38% Unchanged
85 Vise Technologies, Inc. 0.07% of their portfolio NEW YORK, NY 43,89843.9k $2.0m $2.0m 0.07% Added +2.7k +2,715
86 CFS Investment Advisory Services, LLC 0.15% of their portfolio TOTOWA, NJ 43,14543.1k $2.0m $2.0m 0.15% Added +1.5k +1,498
87 INTEGRATED CAPITAL MANAGEMENT, INC. 1.35% of their portfolio JESSUP, PA 42,34642.3k $1.9m $1.9m 1.35% New
88 EFG Private Wealth Management (Americas) Corp. 0.33% of their portfolio MIAMI, FL 42,33142.3k $1.9m $1.9m 0.33% Added +5.9k +5,922
89 Advisor OS, LLC 0.16% of their portfolio CHICAGO, IL 41,25241.3k $1.9m $1.9m 0.16% Added +17.1k +17,073
90 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.01% of their portfolio IRVING, TX 40,48240.5k $1.8m $1.8m 0.01% Added +1.1k +1,128
91 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 36,67736.7k $1.7m $1.7m 0.00% Reduced -17.7k -17,719
92 SWS Partners 0.40% of their portfolio COLUMBUS, OH 35,63635.6k $1.6m $1.6m 0.40% Added +70 +70
93 Advus Financial Partners, LLC 0.38% of their portfolio WINTER PARK, FL 34,76834.8k $1.6m $1.6m 0.38% Added +18.7k +18,711
94 EAGLE ROCK INVESTMENT COMPANY, LLC 0.24% of their portfolio ATLANTA, GA 34,56134.6k $1.6m $1.6m 0.24% Unchanged
95 NICOLET ADVISORY SERVICES, LLC 0.12% of their portfolio GREEN BAY, WI 33,51633.5k $1.5m $1.5m 0.12% Added +4 +4
96 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 31,65131.7k $1.4m $1.4m 0.01% Reduced -892 -892
97 FORONJY FINANCIAL LLC 0.62% of their portfolio Los Osos, CA 31,00331.0k $1.4m $1.4m 0.62% Reduced -768 -768
98 Eagle Strategies LLC 0.19% of their portfolio NEW YORK, NY 30,91430.9k $1.4m $1.4m 0.19% Added +2.0k +2,030
99 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 30,63130.6k $1.4m $1.4m 0.00% Added +26.4k +26,391
100 Johnson Financial Group, LLC 0.12% of their portfolio Denver, CO 29,90329.9k $1.4m $1.4m 0.12% Reduced -3.7k -3,653