Vault-13

SPDR SER TR SPSM

PORTFOLIO S&P600 · ETP · CUSIP 78468R853

895 institutional holders -37 vs Q4 2024
194,279,342194.3m shares reported held*
$7.9bnreported value*
56 new 361 added 350 reduced 85 sold out net sold ≈ $458.7m (-11.3m 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 ($13.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $40.77. Options: 2 managers hold calls ($2.6m notional), 2 hold puts ($193.4k).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 432Q4 22: 476Q1 23: 476Q2 23: 670Q3 23: 688Q4 23: 779Q1 24: 775Q2 24: 812Q3 24: 854Q4 24: 932Q1 25: 895895Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022432
Q4 2022476
Q1 2023476
Q2 2023670
Q3 2023688
Q4 2023779
Q1 2024775
Q2 2024812
Q3 2024854
Q4 2024932
Q1 2025895

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q2 23: 498 bought or addedQ2 23: 145 cut or sold outQ3 23: 366 bought or addedQ3 23: 268 cut or sold outQ3 23Q4 23: 403 bought or addedQ4 23: 277 cut or sold outQ1 24: 398 bought or addedQ1 24: 337 cut or sold outQ1 24Q2 24: 395 bought or addedQ2 24: 333 cut or sold outQ3 24: 455 bought or addedQ3 24: 320 cut or sold outQ3 24Q4 24: 483 bought or addedQ4 24: 319 cut or sold outQ1 25: 417 bought or addedQ1 25: 435 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023498145
Q3 2023366268
Q4 2023403277
Q1 2024398337
Q2 2024395333
Q3 2024455320
Q4 2024483319
Q1 2025417435

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ2 24 calls: $2.5mQ2 24 puts: $8.3kQ2 24P/C 0.00Q3 24 calls: $1.7mQ3 24 puts: $209.3kQ3 24P/C 0.12Q4 24 calls: $4.2mQ4 24 puts: $592.9kQ4 24P/C 0.14Q1 25 calls: $2.6mQ1 25 puts: $193.4kQ1 25P/C 0.08
Numbers
QuarterCallsPutsP/C
Q2 2024$2.5m$8.3k0.00
Q3 2024$1.7m$209.3k0.12
Q4 2024$4.2m$592.9k0.14
Q1 2025$2.6m$193.4k0.08

Biggest buyers

Hancock Prospecting Pty Ltd New +1,479,711+1.5m
LPL Financial LLC Added +1,407,446+1.4m
CLIFTONLARSONALLEN WEALTH ADVISORS, LLC Added +972,530+972.5k
Compton Financial Group, LLC New +558,328+558.3k
Valmark Advisers, Inc. Added +465,430+465.4k
Financial Engines Advisors L.L.C. Added +439,026+439.0k
Geneos Wealth Management Inc. Added +381,299+381.3k
Shepherd Financial Partners LLC Added +327,805+327.8k
MORGAN STANLEY Added +320,077+320.1k
Syntegra Private Wealth Group, LLC Added +269,707+269.7k

Biggest sellers

CWM, LLC Reduced -2,672,013-2.7m
BANK OF AMERICA CORP /DE/ Reduced -2,203,966-2.2m
Fund Evaluation Group, LLC Reduced -2,014,590-2.0m
Richard Bernstein Advisors LLC Reduced -1,518,068-1.5m
Independent Advisor Alliance Reduced -1,396,994-1.4m
Capital Analysts, LLC Reduced -891,966-892.0k
49 WEALTH MANAGEMENT, LLC Reduced -777,088-777.1k
ENVESTNET ASSET MANAGEMENT INC Reduced -656,747-656.7k
CW Advisors, LLC Reduced -647,185-647.2k
Crestwood Advisors Group, LLC Reduced -581,010-581.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $2.4m58.4k shares
CITADEL ADVISORS LLC Added $187.5k4.6k shares

Biggest puts

CITADEL ADVISORS LLC Reduced $187.5k4.6k shares
Quaker Wealth Management, LLC First filing $5.9k144 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Financial Engines Advisors L.L.C. 1.97% of their portfolio SANTA CLARA, CA 22,557,95522.6m $919.5m $919.5m 1.97% Added +439.0k +439,026
2 LPL Financial LLC 0.36% of their portfolio FORT MILL, SC 22,433,33322.4m $914.4m $914.4m 0.36% Added +1.4m +1,407,446
3 Betterment LLC 1.56% of their portfolio NEW YORK, NY 16,131,49616.1m $657.5m $657.5m 1.56% Reduced -32.2k -32,224
4 Valmark Advisers, Inc. 3.60% of their portfolio AKRON, OH 5,847,6745.8m $238.4m $238.4m 3.60% Added +465.4k +465,430
5 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio SAN FRANCISCO, CA 5,648,6405.6m $230.2m $230.2m 0.04% Added +110.2k +110,241
6 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,979,9945.0m $203.0m $203.0m 0.01% Added +320.1k +320,077
7 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 4,744,1374.7m $193.4m $193.4m 0.05% Reduced -520.0k -519,981
8 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 4,310,6174.3m $175.7m $175.7m 0.02% Reduced -2.2m -2,203,966
9 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 3,098,1873.1m $126.3m $126.3m 0.04% Reduced -656.7k -656,747
10 Creative Planning 0.12% of their portfolio OVERLAND PARK, KS 3,016,4103.0m $122.9m $122.9m 0.12% Reduced -118.4k -118,357
11 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 2.28% of their portfolio MINNEAPOLIS, MN 3,004,0003.0m $122.4m $122.4m 2.28% Added +972.5k +972,530
12 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,438,2072.4m $99.4m $99.4m 0.02% Added +78.6k +78,599
13 TOWNSQUARE CAPITAL LLC 1.00% of their portfolio Lehi, UT 2,308,4552.3m $94.1m $94.1m 1.00% Added +155.7k +155,734
14 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,846,5121.8m $75.3m $75.3m 0.02% Added +69.9k +69,872
15 PNC Financial Services Group, Inc. 0.04% of their portfolio Pittsburgh, PA 1,799,6201.8m $73.4m $73.4m 0.04% Reduced -19.7k -19,736
16 Richard Bernstein Advisors LLC 1.67% of their portfolio NEW YORK, NY 1,688,2161.7m $68.8m $68.8m 1.67% Reduced -1.5m -1,518,068
17 CWM, LLC 0.27% of their portfolio OMAHA, NE 1,636,4601.6m $66.7m $66.7m 0.27% Reduced -2.7m -2,672,013
18 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,632,2821.6m $66.5m $66.5m 0.01% Added +66.9k +66,862
19 Crestwood Advisors Group, LLC 1.25% of their portfolio BOSTON, MA 1,618,2991.6m $66.0m $66.0m 1.25% Reduced -581.0k -581,010
20 Pinnacle Wealth Planning Services, Inc. 9.89% of their portfolio MANSFIELD, OH 1,614,2911.6m $65.8m $65.8m 9.89% Added +102.5k +102,520
21 OSAIC HOLDINGS, INC. 0.14% of their portfolio SCOTTSDALE, AZ 1,539,4911.5m $62.8m $62.8m 0.14% Added +156.8k +156,807
22 Hancock Prospecting Pty Ltd 2.38% of their portfolio West Perth, C3 1,479,7111.5m $60.3m $60.3m 2.38% New
23 TEXAS PERMANENT SCHOOL FUND CORP 2.08% of their portfolio AUSTIN, TX 1,435,4891.4m $58.5m $58.5m 2.08% Unchanged
24 Private Advisor Group, LLC 0.35% of their portfolio MORRISTOWN, NJ 1,431,7501.4m $58.4m $58.4m 0.35% Reduced -17.8k -17,772
25 Wealthcare Advisory Partners LLC 1.51% of their portfolio WEST CHESTER, PA 1,380,7291.4m $56.3m $56.3m 1.51% Added +53.7k +53,717
26 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 1,326,3261.3m $54.1m $54.1m 0.04% Added +70.0k +69,964
27 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 1,144,2281.1m $46.6m $46.6m 0.02% Added +105.8k +105,836
28 MIDLAND WEALTH ADVISORS, LLC 2.69% of their portfolio EFFINGHAM, IL 1,119,2161.1m $45.6m $45.6m 2.69% Added +58.4k +58,366
29 CW Advisors, LLC 0.54% of their portfolio BOSTON, MA 1,114,2011.1m $45.4m $45.4m 0.54% Reduced -647.2k -647,185
30 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,113,2381.1m $45.4m $45.4m 0.00% Reduced -126.9k -126,888
31 Stadion Money Management, LLC 4.28% of their portfolio WATKINSVILLE, GA 1,054,2781.1m $43.0m $43.0m 4.28% Added +6.9k +6,860
32 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 1,041,4281.0m $42.4m $42.4m 0.05% Reduced -38.6k -38,620
33 GREAT VALLEY ADVISOR GROUP, INC. 0.86% of their portfolio WILMINGTON, DE 985,613985.6k $40.2m $40.2m 0.86% Reduced -379.2k -379,224
34 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 946,913946.9k $38.6m $38.6m 0.05% Reduced -20.7k -20,666
35 Atlas Private Wealth Advisors 5.26% of their portfolio RED BANK, NJ 926,184926.2k $37.8m $37.8m 5.26% Reduced -568.7k -568,724
36 HighTower Advisors, LLC 0.05% of their portfolio CHICAGO, IL 901,646901.6k $36.8m $36.8m 0.05% Reduced -74.6k -74,587
37 Dakota Wealth Management 0.85% of their portfolio PALM BEACH GARDENS, FL 892,073892.1k $36.4m $36.4m 0.85% Added +82.8k +82,796
38 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 891,253891.3k $36.3m $36.3m 0.01% Reduced -50.1k -50,081
39 MASON STREET ADVISORS, LLC 4.43% of their portfolio MILWAUKEE, WI 853,500853.5k $34.8m $34.8m 4.43% Unchanged
40 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 847,896847.9k $34.6m $34.6m 0.06% Reduced -93.4k -93,413
41 SPINNAKER TRUST 2.18% of their portfolio PORTLAND, ME 819,443819.4k $33.4m $33.4m 2.18% Reduced -15.2k -15,213
42 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.06% of their portfolio PLYMOUTH, MN 783,768783.8k $31.9m $31.9m 0.06% Added +16.3k +16,270
43 Cetera Investment Advisers 0.06% of their portfolio SCHAUMBURG, IL 773,706773.7k $31.5m $31.5m 0.06% Reduced -470.0k -469,978
44 Merit Financial Group, LLC 0.47% of their portfolio ALPHARETTA, GA 771,066771.1k $31.4m $31.4m 0.47% Reduced -204.2k -204,181
45 Equitable Holdings, Inc. 0.30% of their portfolio NEW YORK, NY 767,535767.5k $31.3m $31.3m 0.30% Added +15.8k +15,824
46 DAVENPORT & Co LLC 0.18% of their portfolio RICHMOND, VA 743,480743.5k $30.3m $30.3m 0.18% Added +56.1k +56,130
47 Gerber Kawasaki Wealth & Investment Management 1.33% of their portfolio SANTA MONICA, CA 724,357724.4k $29.5m $29.5m 1.33% Added +49.4k +49,395
48 Geneos Wealth Management Inc. 0.42% of their portfolio ENGLEWOOD, CO 708,671708.7k $28.9m $28.9m 0.42% Added +381.3k +381,299
49 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 2.10% of their portfolio KNOXVILLE, TN 686,735686.7k $28.0m $28.0m 2.10% Added +39.6k +39,622
50 Peterson Wealth Advisors, LLC 4.80% of their portfolio Orem, UT 682,022682.0k $24.8m $24.8m 4.80% Reduced -58 -58
51 MBB PUBLIC MARKETS I LLC 3.15% of their portfolio CHICAGO, IL 669,768669.8k $27.3m $27.3m 3.15% Added +170 +170
52 WALLER FINANCIAL PLANNING GROUP, INC 7.65% of their portfolio COLUMBUS, OH 668,273668.3k $27.2m $27.2m 7.65% Reduced -144.1k -144,084
53 Obermeyer Wealth Partners 1.40% of their portfolio ASPEN, CO 642,354642.4k $26.2m $26.2m 1.40% Reduced -41.0k -41,026
54 ASSETMARK, INC 0.07% of their portfolio CONCORD, CA 623,097623.1k $25.4m $25.4m 0.07% Reduced -200.3k -200,343
55 Crews Bank & Trust 4.29% of their portfolio PORT CHARLOTTE, FL 617,736617.7k $25.2m $25.2m 4.29% Added +14.2k +14,220
56 Focus Financial Network, Inc. 1.02% of their portfolio MINNEAPOLIS, MN 609,513609.5k $24.8m $24.8m 1.02% Added +10.6k +10,595
57 Hughes Financial Services, LLC 4.82% of their portfolio HERNDON, VA 602,705602.7k $24.6m $24.6m 4.82% Reduced -8.6k -8,599
58 Good Life Advisors, LLC 1.67% of their portfolio READING, PA 582,288582.3k $23.7m $23.7m 1.67% Added +27.8k +27,822
59 Corient Private Wealth LP 0.04% of their portfolio MIAMI, FL 563,324563.3k $23.0m $23.0m 0.04% Reduced -16.7k -16,710
60 ABOUND FINANCIAL, LLC 11.59% of their portfolio GRANITE BAY, CA 562,256562.3k $22.9m $22.9m 11.59% Added +29.4k +29,437
61 Compton Financial Group, LLC 6.55% of their portfolio TOWSON, MD 558,328558.3k $22.8m $22.8m 6.55% New
62 First Command Advisory Services, Inc. 0.22% of their portfolio FORT WORTH, TX 557,255557.3k $22.7m $22.7m 0.22% Added +79.0k +79,041
63 Fund Evaluation Group, LLC 0.98% of their portfolio CINCINNATI, OH 556,695556.7k $22.7m $22.7m 0.98% Reduced -2.0m -2,014,590
64 Envestnet Portfolio Solutions, Inc. 0.08% of their portfolio BERWYN, PA 541,691541.7k $22.1m $22.1m 0.08% Reduced -216.0k -216,001
65 Mariner, LLC 0.04% of their portfolio Overland Park, KS 532,979533.0k $21.7m $21.7m 0.04% Reduced -16.5k -16,539
66 Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio FAIRFIELD, IA 507,130507.1k $20.7m $20.7m 0.07% Added +61 +61
67 GM Advisory Group, LLC 1.10% of their portfolio MELVILLE, NY 501,307501.3k $20.4m $20.4m 1.10% Added +38.2k +38,164
68 Avior Wealth Management, LLC 0.75% of their portfolio OMAHA, NE 484,962485.0k $19.8m $19.8m 0.75% Added +9.7k +9,668
69 ST GERMAIN D J CO INC 0.90% of their portfolio SPRINGFIELD, MA 471,224471.2k $19.2m $19.2m 0.90% Added +39.3k +39,282
70 Garrett Wealth Advisory Group, LLC 4.29% of their portfolio WEATHERFORD, TX 470,879470.9k $19.2m $19.2m 4.29% Added +24.6k +24,553
71 RETIREMENT FINANCIAL SOLUTIONS, LLC 7.29% of their portfolio KNOXVILLE, TN 459,649459.6k $18.7m $18.7m 7.29% Added +24.3k +24,267
72 McNamara Financial Services, Inc. 3.89% of their portfolio MARSHFIELD, MA 444,075444.1k $18.1m $18.1m 3.89% Reduced -717 -717
73 Savant Capital, LLC 0.15% of their portfolio ROCKFORD, IL 425,739425.7k $17.4m $17.4m 0.15% Reduced -198.3k -198,274
74 FLAGSHIP HARBOR ADVISORS, LLC 0.90% of their portfolio BOSTON, MA 419,263419.3k $17.1m $17.1m 0.90% Added +83.4k +83,425
75 RKL Wealth Management LLC 1.58% of their portfolio LANCASTER, PA 411,535411.5k $16.8m $16.8m 1.58% Added +259.7k +259,705
76 One Day In July LLC 1.68% of their portfolio BURLINGTON, VT 411,441411.4k $16.8m $16.8m 1.68% Added +80.3k +80,281
77 Octavia Wealth Advisors, LLC 1.96% of their portfolio CINCINNATI, OH 395,581395.6k $16.1m $16.1m 1.96% Added +223.9k +223,938
78 Leicht Financial Planning & Wealth Management, Inc. 8.21% of their portfolio PARSIPPANY, NJ 384,956385.0k $15.7m $15.7m 8.21% Added +7.5k +7,531
79 JNBA Financial Advisors 1.62% of their portfolio BLOOMINGTON, MN 384,094384.1k $15.7m $15.7m 1.62% Reduced -143.8k -143,772
80 Shepherd Financial Partners LLC 1.78% of their portfolio WINCHESTER, MA 372,362372.4k $15.2m $15.2m 1.78% Added +327.8k +327,805
81 BERKSHIRE ASSET MANAGEMENT LLC/PA 0.72% of their portfolio WILKES BARRE, PA 369,762369.8k $14.9m $14.9m 0.72% Added +20.1k +20,147
82 Allen Capital Group, LLC 1.69% of their portfolio GRAND ISLAND, NE 361,813361.8k $14.7m $14.7m 1.69% Added +9.6k +9,630
83 OneDigital Investment Advisors LLC 0.17% of their portfolio OVERLAND PARK, KS 356,354356.4k $14.5m $14.5m 0.17% Added +114 +114
84 Impact Partnership Wealth, LLC 3.05% of their portfolio MARIETTA, GA 350,684350.7k $14.3m $14.3m 3.05% Added +89.1k +89,075
85 Carnegie Investment Counsel 0.30% of their portfolio PEPPER PIKE, OH 348,659348.7k $12.7m $12.7m 0.30% Added +3.8k +3,808
86 Financial Gravity Asset Management, Inc. 3.08% of their portfolio Lakeway, TX 346,006346.0k $14.1m $14.1m 3.08% First filing
87 OARSMAN CAPITAL, INC. 2.53% of their portfolio MILWAUKEE, WI 345,589345.6k $14.1m $14.1m 2.53% Added +44.7k +44,708
88 Avidian Wealth Enterprises, LLC 0.62% of their portfolio Houston, TX 342,229342.2k $13.9m $13.9m 0.62% Added +10.4k +10,393
89 Financial Security Advisor, Inc. 3.52% of their portfolio VIRGINIA BEACH, VA 340,146340.1k $13.9m $13.9m 3.52% Reduced -15.6k -15,636
90 Boston Standard Wealth Management, LLC 3.07% of their portfolio WINCHESTER, MA 335,826335.8k $13.9m $13.9m 3.07% Reduced -18.5k -18,516
91 Integrated Wealth Concepts LLC 0.15% of their portfolio WALTHAM, MA 320,182320.2k $13.1m $13.1m 0.15% Reduced -160.8k -160,801
92 Legacy Edge Advisors, LLC 2.01% of their portfolio SYOSSET, NY 315,901315.9k $12.9m $12.9m 2.01% Added +9.1k +9,125
93 Pure Financial Advisors, LLC 0.26% of their portfolio SAN DIEGO, CA 304,032304.0k $12.4m $12.4m 0.26% Added +54.7k +54,675
94 Sanctuary Advisors, LLC 0.09% of their portfolio INDIANAPOLIS, IN 297,078297.1k $12.1m $12.1m 0.09% Reduced -176.9k -176,921
95 Trilogy Capital Inc. 0.63% of their portfolio IRVINE, CA 295,691295.7k $12.1m $12.1m 0.63% Reduced -8.6k -8,562
96 WBH ADVISORY INC 1.12% of their portfolio BALTIMORE, MD 295,333295.3k $12.0m $12.0m 1.12% Added +5.2k +5,193
97 OneAscent Financial Services LLC 0.78% of their portfolio BIRMINGHAM, AL 293,465293.5k $12.0m $12.0m 0.78% Added +6.6k +6,555
98 Signal Advisors Wealth, LLC 1.15% of their portfolio DETROIT, MI 288,663288.7k $11.8m $11.8m 1.15% Added +48.0k +47,956
99 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 286,338286.3k $14.0m $14.0m 0.03% Reduced -64.0k -63,977
100 CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC 2.38% of their portfolio BETHLEHEM, PA 284,873284.9k $11.6m $11.6m 2.38% Added +36.2k +36,246