Vault-13

SPDR SER TR TFI

NUVEEN BLMBRG MU · ETP · CUSIP 78468R721

322 institutional holders +22 vs Q3 2025
57,267,51557.3m shares reported held*
$2.6bnreported value*
35 new 111 added 98 reduced 24 sold out net sold ≈ $296.0m (-6.2m 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 ($7.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $45.90.

Trends to Q4 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: 300Q4 25: 322322Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025322

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 121 bought or addedQ1 24: 151 cut or sold outQ2 24: 126 bought or addedQ2 24: 140 cut or sold outQ2 24Q3 24: 125 bought or addedQ3 24: 145 cut or sold outQ4 24: 147 bought or addedQ4 24: 134 cut or sold outQ4 24Q1 25: 125 bought or addedQ1 25: 156 cut or sold outQ2 25: 128 bought or addedQ2 25: 168 cut or sold outQ2 25Q3 25: 138 bought or addedQ3 25: 122 cut or sold outQ4 25: 146 bought or addedQ4 25: 122 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024121151
Q2 2024126140
Q3 2024125145
Q4 2024147134
Q1 2025125156
Q2 2025128168
Q3 2025138122
Q4 2025146122

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ1 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 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$6.2m$00.00
Q4 2025$0$0—

Biggest buyers

IHT Wealth Management, LLC Added +716,356+716.4k
Arax Advisory Partners New +339,813+339.8k
SWS Partners Added +306,484+306.5k
JANE STREET GROUP, LLC Added +262,824+262.8k
ENVESTNET ASSET MANAGEMENT INC Added +258,082+258.1k
Dynasty Wealth Management, LLC New +201,597+201.6k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +159,163+159.2k
TRUIST FINANCIAL CORP Added +158,096+158.1k
RAYMOND JAMES FINANCIAL INC Added +132,092+132.1k
BANK OF MONTREAL /CAN/ Added +125,331+125.3k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -6,523,423-6.5m
WELLINGTON MANAGEMENT GROUP LLP Sold out -870,000-870.0k
JPMORGAN CHASE & CO Reduced -678,925-678.9k
MORGAN STANLEY Reduced -510,886-510.9k
Betterment LLC Reduced -507,963-508.0k
Fisher Asset Management, LLC Reduced -176,298-176.3k
ROYAL BANK OF CANADA Reduced -175,154-175.2k
OSAIC HOLDINGS, INC. Reduced -140,963-141.0k
JFS WEALTH ADVISORS, LLC Reduced -84,228-84.2k
Cullen/Frost Bankers, Inc. Reduced -56,027-56.0k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Betterment LLC 1.05% of their portfolio NEW YORK, NY 12,106,26512.1m $553.4m $553.4m 1.05% Reduced -508.0k -507,963
2 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 7,082,0907.1m $323.7m $323.7m 0.02% Reduced -6.5m -6,523,423
3 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.15% of their portfolio MILWAUKEE, WI 5,340,8655.3m $244.1m $244.1m 0.15% Added +114.0k +114,048
4 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,051,2513.1m $139.5m $139.5m 0.01% Reduced -510.9k -510,886
5 Fisher Asset Management, LLC 0.04% of their portfolio PLANO, TX 2,511,5652.5m $114.8m $114.8m 0.04% Reduced -176.3k -176,298
6 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 2,390,8902.4m $109.3m $109.3m 0.03% Added +258.1k +258,082
7 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 2,051,4252.1m $93.8m $93.8m 0.04% Added +125.3k +125,331
8 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,618,9691.6m $74.0m $74.0m 0.02% Added +122.8k +122,778
9 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 971,110971.1k $44.4m $44.4m 0.01% Added +132.1k +132,092
10 Austin Private Wealth, LLC 2.86% of their portfolio Austin, TX 835,814835.8k $38.2m $38.2m 2.86% Added +110.6k +110,583
11 IHT Wealth Management, LLC 1.43% of their portfolio Chicago, IL 742,063742.1k $58.7m $58.7m 1.43% Added +716.4k +716,356
12 Financial Engines Advisors L.L.C. 0.06% of their portfolio SANTA CLARA, CA 724,240724.2k $33.1m $33.1m 0.06% Reduced -9.1k -9,068
13 ASSETMARK, INC 0.06% of their portfolio CONCORD, CA 683,905683.9k $31.3m $31.3m 0.06% Reduced -2.2k -2,224
14 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 613,049613.0k $28.0m $28.0m 0.00% Reduced -678.9k -678,925
15 Wealthcare Advisory Partners LLC 0.48% of their portfolio WEST CHESTER, PA 539,613539.6k $24.7m $24.7m 0.48% Reduced -47.2k -47,172
16 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 512,610512.6k $23.4m $23.4m 0.00% Added +17.0k +16,959
17 UBS Group AG 0.00% of their portfolio ZURICH, V8 497,929497.9k $22.8m $22.8m 0.00% Added +11.7k +11,698
18 OpenArc Corporate Advisory, LLC 0.36% of their portfolio ATLANTA, GA 481,299481.3k $22.0m $22.0m 0.36% First filing
19 Foster Group, Inc. 0.65% of their portfolio WEST DES MOINES, IA 470,893470.9k $21.5m $21.5m 0.65% Reduced -2.7k -2,708
20 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 464,285464.3k $21.2m $21.2m 0.03% Added +158.1k +158,096
21 Revolve Wealth Partners, LLC 2.37% of their portfolio Hackensack, NJ 441,931441.9k $20.2m $20.2m 2.37% Added +20.5k +20,493
22 One Capital Management, LLC 0.60% of their portfolio WESTLAKE VILLAGE, CA 434,688434.7k $19.9m $19.9m 0.60% Reduced -6.1k -6,056
23 PARK AVENUE SECURITIES LLC 0.15% of their portfolio NEW YORK, NY 382,973383.0k $17.5m $17.5m 0.15% Added +45.8k +45,761
24 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 382,397382.4k $17.5m $17.5m 0.02% Added +262.8k +262,824
25 Allworth Financial LP 0.07% of their portfolio FOLSOM, CA 371,533371.5k $17.0m $17.0m 0.07% Reduced -21.3k -21,255
26 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 366,128366.1k $16.7m $16.7m 0.02% Added +25.2k +25,222
27 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 354,581354.6k $16.2m $16.2m 0.01% Reduced -35.6k -35,622
28 SWS Partners 0.38% of their portfolio COLUMBUS, OH 342,120342.1k $1.6m $1.6m 0.38% Added +306.5k +306,484
29 Arax Advisory Partners 0.45% of their portfolio NEW YORK, NY 339,813339.8k $15.5m $15.5m 0.45% New
30 STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio MADISON, WI 285,800285.8k $13.1m $13.1m 0.03% Unchanged
31 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.19% of their portfolio MINNEAPOLIS, MN 278,259278.3k $12.7m $12.7m 0.19% Reduced -7.3k -7,341
32 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 270,152270.2k $12.3m $12.3m 0.00% Reduced -175.2k -175,154
33 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 252,187252.2k $11.5m $11.5m 0.01% Added +1.8k +1,777
34 TD PRIVATE CLIENT WEALTH LLC 0.24% of their portfolio NEW YORK, NY 246,457246.5k $11.3m $11.3m 0.24% Added +48.0k +47,983
35 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 234,268234.3k $10.7m $10.7m 0.03% Added +60.1k +60,097
36 Mariner, LLC 0.01% of their portfolio Overland Park, KS 212,929212.9k $9.7m $9.7m 0.01% Reduced -10.0k -9,957
37 Avidian Wealth Enterprises, LLC 0.35% of their portfolio Houston, TX 210,449210.4k $9.6m $9.6m 0.35% Added +6.8k +6,758
38 Balentine LLC 0.36% of their portfolio ATLANTA, GA 210,261210.3k $9.6m $9.6m 0.36% Added +68.0k +67,979
39 HBK Sorce Advisory LLC 0.22% of their portfolio ERIE, PA 203,391203.4k $9.4m $9.4m 0.22% Reduced -24.8k -24,785
40 Dynasty Wealth Management, LLC 0.09% of their portfolio ST. PETERSBURG, FL 201,597201.6k $9.2m $9.2m 0.09% New
41 ACT Advisors, LLC. 3.36% of their portfolio ASHEVILLE, NC 186,341186.3k $8.5m $8.5m 3.36% Added +2.0k +1,954
42 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 182,360182.4k $8.3m $8.3m 0.01% Reduced -141.0k -140,963
43 WEALTHCARE CAPITAL MANAGEMENT LLC 0.82% of their portfolio RICHMOND, VA 181,721181.7k $8.3m $8.3m 0.82% Reduced -3.9k -3,930
44 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 175,271175.3k $8.0m $8.0m 0.02% Added +6.2k +6,196
45 SEEDS INVESTOR LLC 1.46% of their portfolio NEW YORK, NY 166,377166.4k $7.6m $7.6m 1.46% Reduced -513 -513
46 Cullen/Frost Bankers, Inc. 0.08% of their portfolio San Antonio, TX 163,860163.9k $7.5m $7.5m 0.08% Reduced -56.0k -56,027
47 Crestwood Advisors Group, LLC 0.12% of their portfolio BOSTON, MA 163,498163.5k $7.5m $7.5m 0.12% Reduced -5.8k -5,778
48 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 159,163159.2k $7.3m $7.3m 0.00% New
49 JFS WEALTH ADVISORS, LLC 0.40% of their portfolio HERMITAGE, PA 155,344155.3k $7.1m $7.1m 0.40% Reduced -84.2k -84,228
50 McAdam, LLC 0.32% of their portfolio Philadelphia, PA 155,134155.1k $7.1m $7.1m 0.32% Added +16.2k +16,192
51 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 151,614151.6k $6.9m $6.9m 0.01% Added +248 +248
52 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 149,860149.9k $6.9m $6.9m 0.00% Added +33.3k +33,321
53 &PARTNERS 0.03% of their portfolio NASHVILLE, TN 141,892141.9k $6.5m $6.5m 0.03% Added +2.6k +2,562
54 Tenret Co LLC 3.26% of their portfolio TAMPA, FL 140,767140.8k $6.4m $6.4m 3.26% Unchanged
55 TruNorth Capital Management, LLC 1.17% of their portfolio KALAMAZOO, MI 135,013135.0k $6.2m $6.2m 1.17% Added +34.8k +34,824
56 MATHER GROUP, LLC. 0.06% of their portfolio CHICAGO, IL 126,201126.2k $5.8m $5.8m 0.06% Added +3.3k +3,292
57 Wealthspire Advisors, LLC 0.04% of their portfolio NEW YORK, NY 119,857119.9k $5.5m $5.5m 0.04% Added +3.3k +3,280
58 Sanctuary Advisors, LLC 0.03% of their portfolio INDIANAPOLIS, IN 112,212112.2k $5.1m $5.1m 0.03% Reduced -37.0k -36,975
59 COLLECTIVE FAMILY OFFICE LLC 1.14% of their portfolio YORK, PA 108,628108.6k $5.0m $5.0m 1.14% Added +12.7k +12,706
60 Fourth Dimension Wealth, LLC 1.76% of their portfolio MIDDLEBURG HEIGHTS, OH 105,497105.5k $4.8m $4.8m 1.76% Added +13.4k +13,373
61 COMERICA BANK 0.02% of their portfolio DALLAS, TX 104,085104.1k $4.8m $4.8m 0.02% Reduced -3.6k -3,637
62 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 103,505103.5k $4.7m $4.7m 0.01% Added +89.8k +89,750
63 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 101,869101.9k $4.7m $4.7m 0.01% Reduced -1.9k -1,906
64 Invst, LLC 0.48% of their portfolio INDIANAPOLIS, IN 96,02896.0k $4.4m $4.4m 0.48% Added +2.8k +2,806
65 Aquire Wealth Advisors, LLC 1.07% of their portfolio Salt Lake City, UT 89,71389.7k $4.1m $4.1m 1.07% Added +836 +836
66 GREAT VALLEY ADVISOR GROUP, INC. 0.08% of their portfolio WILMINGTON, DE 88,72788.7k $4.1m $4.1m 0.08% Added +4.8k +4,756
67 Northeast Financial Group, Inc. 1.01% of their portfolio Allentown, PA 87,84987.8k $4.0m $4.0m 1.01% Added +8.7k +8,692
68 CX Institutional 0.12% of their portfolio AUBURN, IN 87,80787.8k $4.0m $4.0m 0.12% Added +16.5k +16,479
69 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 87,42587.4k $4.0m $4.0m 0.00% Added +64.6k +64,586
70 Versant Capital Management, Inc 0.50% of their portfolio PHOENIX, AZ 86,62686.6k $4.0m $4.0m 0.50% Reduced -1.4k -1,437
71 Ackerman Capital Advisors, LLC 0.79% of their portfolio DALLAS, TX 86,44486.4k $4.0m $4.0m 0.79% Reduced -216 -216
72 PURE PORTFOLIOS HOLDINGS LLC 1.18% of their portfolio LAKE OSWEGO, OR 86,07486.1k $3.9m $3.9m 1.18% Added +1.7k +1,651
73 Beacon Pointe Advisors, LLC 0.03% of their portfolio NEWPORT BEACH, CA 84,19684.2k $3.8m $3.8m 0.03% Added +31.7k +31,733
74 Capital Investment Management, Inc. 1.32% of their portfolio LEES SUMMIT, MO 82,82382.8k $3.8m $3.8m 1.32% First filing
75 ASHTON THOMAS SECURITIES, LLC 0.72% of their portfolio ROCHESTER, NY 82,71982.7k $3.8m $3.8m 0.72% Reduced -2.6k -2,637
76 Keebeck Wealth Management 0.40% of their portfolio Chicago, IL 75,27975.3k $3.4m $3.4m 0.40% Reduced -1.4k -1,430
77 CWM, LLC 0.01% of their portfolio OMAHA, NE 73,94173.9k $3.4m $3.4m 0.01% Reduced -257 -257
78 Towercrest Capital Management 0.52% of their portfolio NEWTOWN, PA 71,77071.8k $3.3m $3.3m 0.52% Reduced -7.6k -7,641
79 HHM Wealth Advisors, LLC 0.38% of their portfolio CHATTANOOGA, TN 71,37971.4k $3.3m $3.3m 0.38% Reduced -16.6k -16,585
80 Savvy Advisors, Inc. 0.10% of their portfolio NEW YORK, NY 66,92666.9k $3.1m $3.1m 0.10% Reduced -5.3k -5,275
81 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 66,38966.4k $3.0m $3.0m 0.00% Reduced -26.0k -25,972
82 WealthShield Partners, LLC 0.33% of their portfolio CARY, NC 64,75464.8k $3.0m $3.0m 0.33% Added +19.8k +19,784
83 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 64,27564.3k $2.9m $2.9m 0.01% Reduced -2.1k -2,056
84 MANNING & NAPIER ADVISORS LLC 0.04% of their portfolio Fairport, NY 63,76363.8k $2.9m $2.9m 0.04% Added +13.6k +13,587
85 Evensky & Katz LLC 0.16% of their portfolio CORAL GABLES, FL 60,46060.5k $2.8m $2.8m 0.16% Added +1.2k +1,231
86 Steele Capital Management, Inc. 0.11% of their portfolio DUBUQUE, IA 58,21758.2k $2.7m $2.7m 0.11% Reduced -9.5k -9,516
87 Alliance Wealth Management Group 0.57% of their portfolio FLEMINGTON, NJ 56,67556.7k $2.6m $2.6m 0.57% Reduced -17.1k -17,139
88 HARBOUR INVESTMENTS, INC. 0.05% of their portfolio MADISON, WI 53,56153.6k $2.4m $2.4m 0.05% Added +543 +543
89 Cornerstone Wealth Management, LLC 0.11% of their portfolio ST. PETERS, MO 48,23748.2k $2.2m $2.2m 0.11% Unchanged
90 Gradient Investments LLC 0.03% of their portfolio ARDEN HILLS, MN 47,46147.5k $2.2m $2.2m 0.03% Added +2.9k +2,942
91 Johnson Financial Group, LLC 0.13% of their portfolio Denver, CO 46,75246.8k $2.1m $2.1m 0.13% Added +16.8k +16,849
92 Vise Technologies, Inc. 0.04% of their portfolio NEW YORK, NY 45,39245.4k $2.1m $2.1m 0.04% Added +1.5k +1,494
93 SteelPeak Wealth, LLC 0.07% of their portfolio WOODLAND HILLS, CA 45,33645.3k $2.1m $2.1m 0.07% Reduced -957 -957
94 INTEGRATED CAPITAL MANAGEMENT, INC. 1.34% of their portfolio JESSUP, PA 43,96644.0k $2.0m $2.0m 1.34% Added +1.6k +1,620
95 CFS Investment Advisory Services, LLC 0.15% of their portfolio TOTOWA, NJ 43,69043.7k $2.0m $2.0m 0.15% Added +545 +545
96 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 42,70142.7k $2.0m $2.0m 0.01% Added +15.1k +15,052
97 Crabel Capital Management, LLC 1.47% of their portfolio MILWAUKEE, WI 42,55142.6k $1.9m $1.9m 1.47% Added +29.4k +29,399
98 EFG International AG 0.04% of their portfolio Zurich, V8 42,41642.4k $1.9m $1.9m 0.04% First filing
99 Advisor OS, LLC 0.16% of their portfolio CHICAGO, IL 42,41142.4k $1.9m $1.9m 0.16% Added +1.2k +1,159
100 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 41,84741.8k $1.9m $1.9m 0.01% New