Vault-13

SPDR SER TR SPYX

SPDR S&P 500 ETF · ETP · CUSIP 78468R796

237 institutional holders -1 vs Q2 2025
21,781,28721.8m shares reported held*
$1.2bnreported value*
17 new 72 added 81 reduced 14 sold out net bought ≈ $29.6m (+537.6k 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. Holder counts are more reliable. Implied quarter-end price ≈ $55.06.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 167Q4 22: 165Q1 23: 178Q2 23: 175Q3 23: 181Q4 23: 194Q1 24: 200Q2 24: 206Q3 24: 216Q4 24: 222Q1 25: 217Q2 25: 238Q3 25: 237237Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022167
Q4 2022165
Q1 2023178
Q2 2023175
Q3 2023181
Q4 2023194
Q1 2024200
Q2 2024206
Q3 2024216
Q4 2024222
Q1 2025217
Q2 2025238
Q3 2025237

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 89 bought or addedQ4 23: 62 cut or sold outQ1 24: 75 bought or addedQ1 24: 75 cut or sold outQ1 24Q2 24: 78 bought or addedQ2 24: 78 cut or sold outQ3 24: 84 bought or addedQ3 24: 62 cut or sold outQ3 24Q4 24: 76 bought or addedQ4 24: 87 cut or sold outQ1 25: 84 bought or addedQ1 25: 88 cut or sold outQ1 25Q2 25: 102 bought or addedQ2 25: 83 cut or sold outQ3 25: 89 bought or addedQ3 25: 95 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20238962
Q1 20247575
Q2 20247878
Q3 20248462
Q4 20247687
Q1 20258488
Q2 202510283
Q3 20258995

Calls vs puts

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

CallsPuts
$0$1bn$2bn$3bnQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $2.5bnQ1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$0$2.5bn—
Q2 2025$0$0—
Q3 2025$0$0—

Biggest buyers

TIFF ADVISORY SERVICES, LLC New +339,368+339.4k
XPONANCE LLC New +138,610+138.6k
SPINNAKER TRUST Added +125,227+125.2k
SEEDS INVESTOR LLC Added +100,160+100.2k
PARTNERS CAPITAL INVESTMENT GROUP, LLP Added +93,416+93.4k
BROWN BROTHERS HARRIMAN & CO New +65,877+65.9k
BANK OF AMERICA CORP /DE/ Added +42,236+42.2k
Gemmer Asset Management LLC Added +34,456+34.5k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +33,555+33.6k
AXXCESS WEALTH MANAGEMENT, LLC Added +33,054+33.1k

Biggest sellers

ROYAL BANK OF CANADA Reduced -223,115-223.1k
Rockefeller Capital Management L.P. Reduced -158,767-158.8k
Choate Investment Advisors Reduced -74,871-74.9k
Pathstone Holdings, LLC Reduced -54,696-54.7k
Arax Advisory Partners Sold out -26,762-26.8k
IMC-Chicago, LLC Sold out -23,830-23.8k
LPL Financial LLC Reduced -23,322-23.3k
FOSTER DYKEMA CABOT & PARTNERS, LLC Reduced -13,015-13.0k
JANE STREET GROUP, LLC Sold out -11,024-11.0k
HARBOUR INVESTMENTS, INC. Reduced -10,767-10.8k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Windmill Hill Asset Management Ltd 85.32% of their portfolio WADDESDON, X0 5,932,4255.9m $325.4m $325.4m 85.32% Unchanged
2 Choate Investment Advisors 2.77% of their portfolio BOSTON, MA 2,442,1242.4m $134.0m $134.0m 2.77% Reduced -74.9k -74,871
3 Betterment LLC 0.21% of their portfolio NEW YORK, NY 1,934,2841.9m $106.1m $106.1m 0.21% Added +62 +62
4 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,427,6111.4m $78.3m $78.3m 0.01% Added +954 +954
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 888,396888.4k $48.7m $48.7m 0.00% Added +42.2k +42,236
6 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 507,940507.9k $27.9m $27.9m 0.02% Added +4.7k +4,657
7 Gemmer Asset Management LLC 1.96% of their portfolio WALNUT CREEK, CA 441,598441.6k $24.2m $24.2m 1.96% Added +34.5k +34,456
8 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 440,681440.7k $24.2m $24.2m 0.01% Reduced -23.3k -23,322
9 SPINNAKER TRUST 1.29% of their portfolio PORTLAND, ME 424,171424.2k $23.3m $23.3m 1.29% Added +125.2k +125,227
10 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 414,636414.6k $22.7m $22.7m 0.00% Added +782 +782
11 Sensible Financial Planning & Management, LLC. 3.94% of their portfolio WALTHAM, MA 395,140395.1k $21.7m $21.7m 3.94% Added +9.6k +9,583
12 TIFF ADVISORY SERVICES, LLC 3.88% of their portfolio RADNOR, PA 339,368339.4k $18.6m $18.6m 3.88% New
13 Rathbones Group PLC 0.07% of their portfolio Liverpool, X0 336,612336.6k $18.5m $18.5m 0.07% Unchanged
14 PARTNERS CAPITAL INVESTMENT GROUP, LLP 0.62% of their portfolio BOSTON, MA 285,493285.5k $15.7m $15.7m 0.62% Added +93.4k +93,416
15 Allianz SE 0.33% of their portfolio Munich, 2M 282,008282.0k $15.5m $15.5m 0.33% Added +8.5k +8,500
16 Pathstone Holdings, LLC 0.06% of their portfolio ENGLEWOOD, NJ 279,145279.1k $15.3m $15.3m 0.06% Reduced -54.7k -54,696
17 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 214,731214.7k $11.8m $11.8m 0.00% Reduced -223.1k -223,115
18 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 192,816192.8k $10.6m $10.6m 0.00% Added +7.5k +7,478
19 GOULD ASSET MANAGEMENT LLC /CA/ 1.86% of their portfolio CLAREMONT, CA 183,066183.1k $10.0m $10.0m 1.86% Added +9.5k +9,487
20 RETIREMENT INCOME SOLUTIONS, INC 1.62% of their portfolio ANN ARBOR, MI 172,985173.0k $9.5m $9.5m 1.62% Reduced -5.1k -5,095
21 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 157,497157.5k $8.6m $8.6m 0.02% Reduced -158.8k -158,767
22 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 145,825145.8k $8.0m $8.0m 0.01% Reduced -1.2k -1,213
23 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 143,614143.6k $7.9m $7.9m 0.01% Reduced -211 -211
24 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 140,640140.6k $7.7m $7.7m 0.02% Added +15.0k +14,996
25 XPONANCE LLC 0.06% of their portfolio PHILADELPHIA, PA 138,610138.6k $7.6m $7.6m 0.06% New
26 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 131,799131.8k $7.2m $7.2m 0.01% Reduced -6.4k -6,432
27 Institute for Wealth Management, LLC. 0.75% of their portfolio DENVER, CO 131,208131.2k $7.2m $7.2m 0.75% Reduced -446 -446
28 SEEDS INVESTOR LLC 1.33% of their portfolio NEW YORK, NY 114,701114.7k $6.3m $6.3m 1.33% Added +100.2k +100,160
29 UBS Group AG 0.00% of their portfolio ZURICH, V8 109,439109.4k $6.0m $6.0m 0.00% Added +11.3k +11,287
30 FOSTER DYKEMA CABOT & PARTNERS, LLC 0.37% of their portfolio WALTHAM, MA 101,531101.5k $5.6m $5.6m 0.37% Reduced -13.0k -13,015
31 Mariner, LLC 0.01% of their portfolio Overland Park, KS 88,14488.1k $4.8m $4.8m 0.01% Reduced -1.1k -1,084
32 CRUX WEALTH ADVISORS 1.89% of their portfolio LONG BEACH, CA 86,71986.7k $4.8m $4.8m 1.89% Added +1.6k +1,611
33 HARBOUR INVESTMENTS, INC. 0.10% of their portfolio MADISON, WI 80,30580.3k $4.4m $4.4m 0.10% Reduced -10.8k -10,767
34 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 79,74279.7k $4.4m $4.4m 0.00% Reduced -5.8k -5,804
35 FLPUTNAM INVESTMENT MANAGEMENT CO 0.06% of their portfolio PORTLAND, ME 75,13075.1k $4.1m $4.1m 0.06% Added +373 +373
36 Stonehearth Capital Management, LLC 1.52% of their portfolio DANVERS, MA 71,53771.5k $3.9m $3.9m 1.52% Reduced -935 -935
37 BROWN BROTHERS HARRIMAN & CO 0.02% of their portfolio NEW YORK, NY 65,87765.9k $3.6m $3.6m 0.02% New
38 Milestone Investment Advisors LLC 0.87% of their portfolio MIDDLETON, WI 63,97364.0k $3.5m $3.5m 0.87% Reduced -75 -75
39 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 56,12056.1k $3.1m $3.1m 0.00% Added +33.6k +33,555
40 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 55,53455.5k $3.0m $3.0m 0.00% Added +28.6k +28,563
41 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 48,54048.5k $2.7m $2.7m 0.00% Added +18.8k +18,787
42 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 48,25048.2k $2.6m $2.6m 0.01% Added +625 +625
43 Modera Wealth Management, LLC 0.03% of their portfolio WESTWOOD, NJ 47,03047.0k $2.6m $2.6m 0.03% Reduced -1.7k -1,702
44 AXXCESS WEALTH MANAGEMENT, LLC 0.05% of their portfolio CARLSBAD, CA 46,56746.6k $2.6m $2.6m 0.05% Added +33.1k +33,054
45 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 45,98646.0k $2.5m $2.5m 0.00% Added +6.7k +6,719
46 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 45,12145.1k $2.5m $2.5m 0.00% Reduced -23 -23
47 PFG Advisors 0.10% of their portfolio Phoenix, AZ 44,44744.4k $2.4m $2.4m 0.10% Reduced -2.6k -2,628
48 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 44,24044.2k $2.4m $2.4m 0.00% Added +32 +32
49 MARINO, STRAM & ASSOCIATES LLC 0.42% of their portfolio BRAINTREE, MA 42,48942.5k $2.3m $2.3m 0.42% Added +154 +154
50 Oxler Private Wealth LLC 0.58% of their portfolio Rye Brook, NY 36,11636.1k $2.0m $2.0m 0.58% Reduced -865 -865
51 Boyd Wealth Management, LLC 0.84% of their portfolio SACRAMENTO, CA 35,64435.6k $2.0m $2.0m 0.84% Reduced -1.7k -1,721
52 Northern Financial Advisors Inc 0.99% of their portfolio BLOOMFIELD HILLS, MI 34,48934.5k $1.9m $1.9m 0.99% Added +28.6k +28,597
53 MASECO LLP 0.09% of their portfolio LONDON, X0 34,41734.4k $1.9m $1.9m 0.09% Reduced -2.3k -2,255
54 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 33,53333.5k $1.8m $1.8m 0.00% Added +655 +655
55 Fortis Capital Management LLC 0.25% of their portfolio BELLEVUE, WA 31,87831.9k $1.7m $1.7m 0.25% Reduced -15 -15
56 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 31,70931.7k $1.7m $1.7m 0.00% Reduced -804 -804
57 CITIZENS FINANCIAL GROUP INC/RI 0.02% of their portfolio PROVIDENCE, RI 31,20031.2k $1.7m $1.7m 0.02% Unchanged
58 Tidal Investments LLC 0.01% of their portfolio Milwaukee, WI 30,39330.4k $1.7m $1.7m 0.01% Reduced -76 -76
59 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 30,07030.1k $1.6m $1.6m 0.00% Reduced -2.5k -2,508
60 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.01% of their portfolio IRVING, TX 29,45029.4k $1.6m $1.6m 0.01% Added +1.6k +1,611
61 OneDigital Investment Advisors LLC 0.02% of their portfolio OVERLAND PARK, KS 28,97529.0k $1.6m $1.6m 0.02% Reduced -2.4k -2,447
62 Clear Harbor Asset Management, LLC 0.11% of their portfolio Stamford, CT 27,64527.6k $1.5m $1.5m 0.11% Unchanged
63 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 27,00327.0k $1.5m $1.5m 0.00% Reduced -100 -100
64 Hanson & Doremus Investment Management 0.18% of their portfolio BURLINGTON, VT 26,51126.5k $1.5m $1.5m 0.18% Unchanged
65 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 26,30726.3k $1.4m $1.4m 0.00% Added +595 +595
66 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 25,91525.9k $1.8m $1.8m 0.00% Added +82 +82
67 PFG Investments, LLC 0.07% of their portfolio WOODBURY, NY 25,28725.3k $1.4m $1.4m 0.07% Reduced -316 -316
68 AlTi Global, Inc. 0.03% of their portfolio NEW YORK, NY 24,88824.9k $1.4m $1.4m 0.03% Added +1.6k +1,599
69 CAPITAL CITY TRUST CO/FL 0.32% of their portfolio TALLAHASSEE, FL 24,18324.2k $1.3m $1.3m 0.32% Unchanged
70 Essex Financial Services, Inc. 0.08% of their portfolio ESSEX, CT 23,60623.6k $1.3m $1.3m 0.08% Reduced -947 -947
71 WESCAP Management Group, Inc. 0.27% of their portfolio Glendale, CA 23,39323.4k $1.3m $1.3m 0.27% Reduced -1.4k -1,410
72 FMR LLC 0.00% of their portfolio BOSTON, MA 22,89822.9k $1.3m $1.3m 0.00% Added +2.6k +2,556
73 FIRST NATIONAL CORP /MA/ /ADV 0.24% of their portfolio ROCKLAND, MA 22,78222.8k $1.3m $1.3m 0.24% Reduced -204 -204
74 Alesco Advisors, LLC, An ESL Co 0.03% of their portfolio Pittsford, NY 22,52022.5k $1.2m $1.2m 0.03% Reduced -660 -660
75 SENTINEL TRUST CO LBA 0.12% of their portfolio HOUSTON, TX 21,76321.8k $1.2m $1.2m 0.12% Reduced -2.0k -2,042
76 eCIO, Inc. 0.44% of their portfolio MADISON, WI 21,26121.3k $1.2m $1.2m 0.44% Reduced -2.1k -2,095
77 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 20,57620.6k $1.1m $1.1m 0.00% Added +5.5k +5,489
78 Bragg Financial Advisors, Inc 0.04% of their portfolio CHARLOTTE, NC 19,93119.9k $1.1m $1.1m 0.04% Unchanged
79 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 19,90819.9k $1.1m $1.1m 0.00% Reduced -57 -57
80 Bell Investment Advisors, Inc 0.18% of their portfolio ORINDA, CA 19,81119.8k $1.1m $1.1m 0.18% Reduced -806 -806
81 Affinity Capital Advisors, LLC 0.17% of their portfolio BERKELEY, CA 19,75319.8k $1.1m $1.1m 0.17% Reduced -77 -77
82 BRADLEY FOSTER & SARGENT INC/CT 0.02% of their portfolio HARTFORD, CT 19,11519.1k $1.0m $1.0m 0.02% Unchanged
83 Bridgewater Advisors Inc. 0.07% of their portfolio NEW YORK, NY 19,10219.1k $1.1m $1.1m 0.07% Reduced -129 -129
84 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 18,49018.5k $1.0m $1.0m 0.00% Reduced -135 -135
85 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 18,48118.5k $1.0m $1.0m 0.00% Unchanged
86 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 17,38817.4k $957.8k $957.8k 0.00% Reduced -207 -207
87 Avior Wealth Management, LLC 0.03% of their portfolio OMAHA, NE 16,96817.0k $930.7k $930.7k 0.03% Added +5.4k +5,389
88 IMA Advisory Services, Inc. 0.09% of their portfolio DENVER, CO 16,20016.2k $888.6k $888.6k 0.09% Added +2.9k +2,893
89 Focus Financial Network, Inc. 0.03% of their portfolio MINNEAPOLIS, MN 15,78615.8k $865.9k $865.9k 0.03% Added +1.4k +1,443
90 Trevian Wealth Management LLC 0.46% of their portfolio WESTON, MA 15,68615.7k $860.3k $860.3k 0.46% Added +97 +97
91 BAILARD, INC. 0.02% of their portfolio Foster City, CA 15,52615.5k $851.6k $851.6k 0.02% Reduced -90 -90
92 Operose Advisors LLC 0.21% of their portfolio MILWAUKEE, WI 15,35515.4k $842.2k $842.2k 0.21% Added +1.8k +1,819
93 Farrow Financial, Inc. 0.49% of their portfolio SOUTH BURLINGTON, VT 15,35415.4k $842.2k $842.2k 0.49% Reduced -746 -746
94 COMMERCE BANK 0.00% of their portfolio KANSAS CITY, MO 15,33015.3k $840.9k $840.9k 0.00% Unchanged
95 Ameritas Investment Partners, Inc. 0.03% of their portfolio LINCOLN, NE 15,00215.0k $822.9k $822.9k 0.03% Reduced -167 -167
96 Western Wealth Management, LLC 0.04% of their portfolio GOLDEN, CO 14,50714.5k $795.7k $795.7k 0.04% Added +9 +9
97 Bleakley Financial Group, LLC 0.02% of their portfolio PARSIPPANY, NJ 14,37314.4k $788.4k $788.4k 0.02% Added +31 +31
98 JFG Wealth Management, LLC 0.15% of their portfolio Denver, CO 14,23414.2k $780.7k $780.7k 0.15% Unchanged
99 MONETA GROUP INVESTMENT ADVISORS LLC 0.01% of their portfolio ST LOUIS, MO 13,37113.4k $733.4k $733.4k 0.01% Added +722 +722
100 Facet Wealth, Inc. 0.02% of their portfolio WEST PALM BEACH, FL 13,23113.2k $725.7k $725.7k 0.02% New