Vault-13

SPDR SER TR QUS

MSCI USA STRTGIC · ETP · CUSIP 78468R812

190 institutional holders +11 vs Q4 2025
6,866,3336.9m shares reported held*
$1.2bnreported value*
26 new 38 added 72 reduced 16 sold out net sold ≈ $71.0m (-413.6k 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 ($757.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $171.77. Options: 1 managers hold calls ($274.6k notional), 0 hold puts (—).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 108Q4 22: 126Q1 23: 129Q2 23: 129Q3 23: 130Q4 23: 148Q1 24: 159Q2 24: 157Q3 24: 154Q4 24: 165Q1 25: 167Q2 25: 175Q3 25: 182Q4 25: 179Q1 26: 190190Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022108
Q4 2022126
Q1 2023129
Q2 2023129
Q3 2023130
Q4 2023148
Q1 2024159
Q2 2024157
Q3 2024154
Q4 2024165
Q1 2025167
Q2 2025175
Q3 2025182
Q4 2025179
Q1 2026190

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q2 24: 64 bought or addedQ2 24: 77 cut or sold outQ3 24: 55 bought or addedQ3 24: 79 cut or sold outQ3 24Q4 24: 67 bought or addedQ4 24: 66 cut or sold outQ1 25: 61 bought or addedQ1 25: 67 cut or sold outQ1 25Q2 25: 85 bought or addedQ2 25: 58 cut or sold outQ3 25: 58 bought or addedQ3 25: 73 cut or sold outQ3 25Q4 25: 66 bought or addedQ4 25: 78 cut or sold outQ1 26: 64 bought or addedQ1 26: 88 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20246477
Q3 20245579
Q4 20246766
Q1 20256167
Q2 20258558
Q3 20255873
Q4 20256678
Q1 20266488

Calls vs puts

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

CallsPuts
$0$100k$200k$300k$400kQ2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $325.3kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $278.7kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $274.6kQ1 26 puts: $0Q1 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q2 2025$0$0—
Q3 2025$325.3k$00.00
Q4 2025$278.7k$00.00
Q1 2026$274.6k$00.00

Biggest buyers

Kingsview Wealth Management, LLC New +43,811+43.8k
Focus Partners Wealth Added +23,841+23.8k
LPL Financial LLC Added +19,748+19.7k
Perennial Investment Advisors, LLC Added +19,422+19.4k
ENVESTNET ASSET MANAGEMENT INC Added +16,560+16.6k
SFMG, LLC Added +14,543+14.5k
CITADEL ADVISORS LLC New +10,074+10.1k
JANE STREET GROUP, LLC New +9,751+9.8k
Midwest Financial Network, LLC Added +9,725+9.7k
Strategic Financial Partners, Ltd. Added +9,475+9.5k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -168,610-168.6k
Garrett Wealth Advisory Group, LLC Reduced -121,710-121.7k
Howard Capital Management, LLC Sold out -119,933-119.9k
Presper Financial Architects, LLC Reduced -70,874-70.9k
MORGAN STANLEY Reduced -39,756-39.8k
Private Advisor Group, LLC Reduced -22,181-22.2k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -16,352-16.4k
Cambridge Investment Research Advisors, Inc. Reduced -16,278-16.3k
SILVER OAK SECURITIES, INCORPORATED Sold out -11,137-11.1k
Sharkey, Howes & Javer Reduced -9,092-9.1k

Biggest calls

Belvedere Trading LLC Unchanged $274.6k1.6k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Focus Partners Wealth 0.39% of their portfolio ST LOUIS, MO 2,056,3552.1m $353.0m $353.0m 0.39% Added +23.8k +23,841
2 SFMG, LLC 6.37% of their portfolio PLANO, TX 541,590541.6k $93.0m $93.0m 6.37% Added +14.5k +14,543
3 Tolleson Wealth Management, Inc. 13.48% of their portfolio DALLAS, TX 537,883537.9k $92.3m $92.3m 13.48% Reduced -6.5k -6,520
4 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 352,798352.8k $60.6m $60.6m 0.02% Added +19.7k +19,748
5 Perennial Investment Advisors, LLC 4.35% of their portfolio Los Angeles, CA 317,764317.8k $54.5m $54.5m 4.35% Added +19.4k +19,422
6 Private Advisor Group, LLC 0.22% of their portfolio MORRISTOWN, NJ 268,245268.2k $46.0m $46.0m 0.22% Reduced -22.2k -22,181
7 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 220,498220.5k $37.8m $37.8m 0.00% Reduced -168.6k -168,610
8 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 213,361213.4k $36.6m $36.6m 0.01% Added +16.6k +16,560
9 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 203,948203.9k $35.0m $35.0m 0.01% Added +5.5k +5,518
10 Sage Mountain Advisors LLC 2.02% of their portfolio ATLANTA, GA 168,022168.0k $28.8m $28.8m 2.02% Reduced -1.8k -1,776
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 125,070125.1k $21.5m $21.5m 0.00% Reduced -39.8k -39,756
12 BIP Wealth, LLC 0.74% of their portfolio ATLANTA, GA 106,132106.1k $18.2m $18.2m 0.74% Reduced -2.4k -2,413
13 Great Point Wealth Advisors, LLC 2.68% of their portfolio BOSTON, MA 84,48184.5k $14.5m $14.5m 2.68% Reduced -614 -614
14 Paul R. Ried Financial Group, LLC 5.90% of their portfolio BELLEVUE, WA 73,99474.0k $12.7m $12.7m 5.90% Added +3.1k +3,133
15 Continuum Advisory, LLC 1.21% of their portfolio EAGLE, ID 73,50373.5k $12.6m $12.6m 1.21% Added +1.2k +1,192
16 American Money Management, LLC 1.90% of their portfolio Rancho Santa Fe, CA 69,81269.8k $12.0m $12.0m 1.90% Added +2.1k +2,138
17 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 67,32467.3k $11.6m $11.6m 0.00% Reduced -1.0k -1,005
18 Marotta Asset Management 2.12% of their portfolio CHARLOTTESVILLE, VA 66,80366.8k $11.5m $11.5m 2.12% Added +9.2k +9,232
19 Eagle Strategies LLC 1.19% of their portfolio NEW YORK, NY 58,04058.0k $10.0m $10.0m 1.19% Reduced -2.6k -2,562
20 Garrett Wealth Advisory Group, LLC 1.73% of their portfolio WEATHERFORD, TX 56,83656.8k $9.8m $9.8m 1.73% Reduced -121.7k -121,710
21 Goodman Advisory Group, LLC 2.48% of their portfolio NEEDHAM, MA 55,74255.7k $9.6m $9.6m 2.48% Reduced -569 -569
22 Kingsview Wealth Management, LLC 0.10% of their portfolio GRANTS PASS, OR 43,81143.8k $7.5m $7.5m 0.10% New
23 Hughes Financial Services, LLC 1.15% of their portfolio HERNDON, VA 43,55943.6k $7.5m $7.5m 1.15% Reduced -327 -327
24 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 43,27243.3k $7.4m $7.4m 0.00% Added +7.3k +7,341
25 ARQ WEALTH ADVISORS, LLC 1.31% of their portfolio SCOTTSDALE, AZ 42,35742.4k $7.3m $7.3m 1.31% Added +3.3k +3,339
26 AlTi Global, Inc. 0.15% of their portfolio NEW YORK, NY 39,71739.7k $6.8m $6.8m 0.15% Reduced -6 -6
27 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 37,35537.4k $6.4m $6.4m 0.02% Added +823 +823
28 VISTA INVESTMENT MANAGEMENT 2.14% of their portfolio PITTSBURGH, PA 37,26237.3k $6.4m $6.4m 2.14% Reduced -989 -989
29 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 33,49833.5k $5.8m $5.8m 0.01% Reduced -16.4k -16,352
30 FIRST HAWAIIAN BANK 0.74% of their portfolio HONOLULU, HI 30,62830.6k $5.3m $5.3m 0.74% Reduced -2.7k -2,728
31 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 30,26030.3k $5.2m $5.2m 0.01% Reduced -16.3k -16,278
32 Sharkey, Howes & Javer 0.68% of their portfolio DENVER, CO 29,42429.4k $5.1m $5.1m 0.68% Reduced -9.1k -9,092
33 PARSONS CAPITAL MANAGEMENT INC/RI 0.23% of their portfolio PROVIDENCE, RI 29,26029.3k $5.0m $5.0m 0.23% Added +1.6k +1,636
34 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 27,66327.7k $4.7m $4.7m 0.01% Reduced -757 -757
35 Quantinno Capital Management LP 0.01% of their portfolio NEW YORK, NY 26,40526.4k $4.5m $4.5m 0.01% Reduced -2.4k -2,393
36 Elevation Capital Advisory, LLC 1.89% of their portfolio BEND, OR 25,88125.9k $4.4m $4.4m 1.89% Added +3.3k +3,273
37 Integrity Wealth Solutions LLC 1.68% of their portfolio DENVER, CO 24,86724.9k $4.3m $4.3m 1.68% Reduced -2.3k -2,326
38 CreativeOne Wealth, LLC 0.10% of their portfolio OVERLAND PARK, KS 24,69524.7k $4.2m $4.2m 0.10% Reduced -913 -913
39 Midwest Financial Network, LLC 2.96% of their portfolio TINLEY PARK, IL 21,68921.7k $3.7m $3.7m 2.96% Added +9.7k +9,725
40 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 21,39521.4k $3.7m $3.7m 0.01% Reduced -67 -67
41 Strategic Financial Partners, Ltd. 1.58% of their portfolio Bend, OR 21,31821.3k $3.7m $3.7m 1.58% Added +9.5k +9,475
42 Essex Financial Services, Inc. 0.19% of their portfolio ESSEX, CT 19,89719.9k $3.4m $3.4m 0.19% Reduced -70 -70
43 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 17,33717.3k $3.0m $3.0m 0.01% Reduced -353 -353
44 FLAGSHIP HARBOR ADVISORS, LLC 0.12% of their portfolio BOSTON, MA 15,58515.6k $2.7m $2.7m 0.12% Reduced -564 -564
45 HARBOR INVESTMENT ADVISORY, LLC 0.18% of their portfolio LUTHERVILLE, MD 13,48413.5k $2.3m $2.3m 0.18% Added +115 +115
46 Warner Group LLC 1.45% of their portfolio MADISON, CT 12,90212.9k $2.2m $2.2m 1.45% Reduced -119 -119
47 LBMC INVESTMENT ADVISORS, LLC 0.13% of their portfolio BRENTWOOD, TN 12,14512.1k $2.1m $2.1m 0.13% Reduced -304 -304
48 Versant Capital Management, Inc 0.20% of their portfolio PHOENIX, AZ 11,85011.8k $2.0m $2.0m 0.20% Reduced -4.2k -4,211
49 Allred Capital Management, LLC 0.69% of their portfolio Dallas, TX 11,00111.0k $1.9m $1.9m 0.69% Added +224 +224
50 McAdam, LLC 0.08% of their portfolio Philadelphia, PA 10,82410.8k $1.9m $1.9m 0.08% Reduced -253 -253
51 Goldstein Advisors, LLC 0.20% of their portfolio Madison, WI 10,73410.7k $1.8m $1.8m 0.20% Reduced -36 -36
52 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 10,34910.3k $1.8m $1.8m 0.00% Reduced -36 -36
53 NWAM LLC 0.10% of their portfolio MERCER ISLAND, WA 10,27810.3k $1.8m $1.8m 0.10% Added +6.5k +6,486
54 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 10,07410.1k $1.7m $1.7m 0.00% New
55 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 9,7519.8k $1.7m $1.7m 0.00% New
56 Ethic Inc. 0.03% of their portfolio NEW YORK, NY 9,4399.4k $1.6m $1.6m 0.03% New
57 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 9,0409.0k $1.6m $1.6m 0.02% Added +1.1k +1,139
58 SENTINEL PENSION ADVISORS, LLC 0.22% of their portfolio WAKEFIELD, MA 8,6818.7k $1.5m $1.5m 0.22% Reduced -89 -89
59 Presper Financial Architects, LLC 0.88% of their portfolio AKRON, OH 8,6548.7k $1.5m $1.5m 0.88% Reduced -70.9k -70,874
60 Selby Wealth Management, LLC 0.58% of their portfolio EMERYVILLE, CA 8,5488.5k $1.5m $1.5m 0.58% Reduced -40 -40
61 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 8,2358.2k $1.4m $1.4m 0.00% Added +880 +880
62 Riverpoint Wealth Management Holdings, LLC 0.30% of their portfolio CHICAGO, IL 8,1518.2k $1.4m $1.4m 0.30% Reduced -620 -620
63 LEVEL FOUR ADVISORY SERVICES, LLC 0.04% of their portfolio DALLAS, TX 7,9788.0k $1.4m $1.4m 0.04% Reduced -754 -754
64 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.01% of their portfolio Stamford, CT 7,5207.5k $1.3m $1.3m 0.01% Added +1.6k +1,622
65 Cornerstone Wealth Management, LLC 0.06% of their portfolio ST. PETERS, MO 7,2827.3k $1.2m $1.2m 0.06% Reduced -82 -82
66 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 7,1417.1k $1.2m $1.2m 0.03% Reduced -411 -411
67 NorthRock Partners, LLC 0.02% of their portfolio MINNEAPOLIS, MN 6,7776.8k $1.2m $1.2m 0.02% Reduced -754 -754
68 HENGEHOLD CAPITAL MANAGEMENT LLC 0.09% of their portfolio CINCINNATI, OH 6,3246.3k $1.1m $1.1m 0.09% Reduced -73 -73
69 SHEETS SMITH WEALTH MANAGEMENT 0.12% of their portfolio WINSTON-SALEM, NC 6,3016.3k $1.1m $1.1m 0.12% Reduced -21 -21
70 Wilkins Miller Wealth Management, LLC 0.65% of their portfolio MOBILE, AL 6,2946.3k $1.1m $1.1m 0.65% Reduced -20 -20
71 Independent Advisor Alliance 0.01% of their portfolio CHARLOTTE, NC 6,2196.2k $1.1m $1.1m 0.01% New
72 Compound Planning, Inc. 0.03% of their portfolio NEW YORK, NY 5,4535.5k $936.0k $936.0k 0.03% Reduced -93 -93
73 1620 INVESTMENT ADVISORS, INC. 0.61% of their portfolio PLYMOUTH, MA 5,2905.3k $908.0k $908.0k 0.61% Reduced -105 -105
74 Dynamic Advisor Solutions LLC 0.03% of their portfolio PHOENIX, AZ 4,9895.0k $856.3k $856.3k 0.03% New
75 Princeton Global Asset Management LLC 0.14% of their portfolio PRINCETON, NJ 4,9655.0k $852.1k $852.1k 0.14% Reduced -6.1k -6,108
76 Detalus Advisors, LLC 0.19% of their portfolio ST. LOUIS, MO 4,9244.9k $845.2k $845.2k 0.19% Unchanged
77 NAPLES GLOBAL ADVISORS, LLC 0.06% of their portfolio NAPLES, FL 4,8254.8k $828.2k $828.2k 0.06% Unchanged
78 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 4,8174.8k $826.8k $826.8k 0.00% New
79 KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio FORT WORTH, TX 4,5344.5k $778.2k $778.2k 0.00% Unchanged
80 Alpha Zero LLC 0.38% of their portfolio BOCA RATON, FL 4,3894.4k $753.3k $753.3k 0.38% Unchanged
81 VICUS CAPITAL 0.06% of their portfolio STATE COLLEGE, PA 4,3594.4k $748.1k $748.1k 0.06% Unchanged
82 Apollon Financial, LLC 0.10% of their portfolio MOUNT PLEASANT, SC 4,3504.3k $746.6k $746.6k 0.10% Unchanged
83 VestGen Advisors, LLC 0.02% of their portfolio CHICAGO, IL 4,1574.2k $760.9k $760.9k 0.02% Added +648 +648
84 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 3,9784.0k $670.3k $670.3k 0.00% Added +645 +645
85 ROCKLAND TRUST CO 0.03% of their portfolio HANOVER, MA 3,7873.8k $650.0k $650.0k 0.03% Reduced -95 -95
86 GILPIN WEALTH MANAGEMENT, LLC 0.50% of their portfolio DENVER, CO 3,6513.7k $626.7k $626.7k 0.50% Reduced -5 -5
87 Tower Research Capital LLC (TRC) 0.02% of their portfolio NEW YORK, NY 3,6393.6k $624.6k $624.6k 0.02% New
88 PRIVATE TRUST CO NA 0.05% of their portfolio CLEVELAND, OH 3,4963.5k $600.1k $600.1k 0.05% Unchanged
89 Cullen/Frost Bankers, Inc. 0.01% of their portfolio San Antonio, TX 3,4833.5k $597.8k $597.8k 0.01% Unchanged
90 Valtinson Bruner Financial Planning LLC 0.16% of their portfolio NEW BRIGHTON, MN 3,4523.5k $592.4k $592.4k 0.16% Unchanged
91 Opulen Financial Group LLC 0.41% of their portfolio ARLINGTON, VA 3,3843.4k $580.8k $580.8k 0.41% Unchanged
92 Aptus Capital Advisors, LLC 0.00% of their portfolio FAIRHOPE, AL 3,3463.3k $574.3k $574.3k 0.00% Reduced -250 -250
93 Financial Guidance Group, Inc. 0.23% of their portfolio Palm Harbor, FL 3,3463.3k $574.3k $574.3k 0.23% Reduced -250 -250
94 Avant Capital LLC 0.40% of their portfolio LAFAYETTE, LA 3,3163.3k $569.2k $569.2k 0.40% Unchanged
95 GeoWealth Management, LLC 0.02% of their portfolio CHICAGO, IL 3,3013.3k $566.5k $566.5k 0.02% Reduced -333 -333
96 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,2223.2k $553.1k $553.1k 0.00% Added +276 +276
97 FMR LLC 0.00% of their portfolio BOSTON, MA 2,9963.0k $514.3k $514.3k 0.00% Reduced -163 -163
98 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 2,9593.0k $507.9k $507.9k 0.00% Reduced -70 -70
99 January Capital Advisors LLC 0.68% of their portfolio SAN FRANCISCO, CA 2,9492.9k $506.2k $506.2k 0.68% First filing
100 J. R. Prunier Capital Management LLC 0.21% of their portfolio HOLDEN, MA 2,8452.8k $488.3k $488.3k 0.21% Unchanged