State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
1,385 hedge funds and large institutions have $18.8B invested in State Street SPDR Dow Jones Industrial Average ETF Trust in 2025 Q4 according to their latest regulatory filings, with 176 funds opening new positions, 436 increasing their positions, 382 reducing their positions, and 52 closing their positions.
238% more first-time investments, than exits
New positions opened: 176 | Existing positions closed: 52
33% more funds holding in top 10
Funds holding in top 10: 51 → 68 (+17)
26% more capital invested
Capital invested by funds: $14.9B → $18.8B (+$3.88B)
14% more repeat investments, than reductions
Existing positions increased: 436 | Existing positions reduced: 382
8% more funds holding
Funds holding: 1,285 → 1,385 (+100)
5.15% more ownership
Funds ownership: 37.73% → 42.88% (+5.1%)
46% less call options, than puts
Call options by funds: $6.13B | Put options by funds: $11.4B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$1.94B |
| 2 |
Goldman Sachs
New York
|
+$1.59B |
| 3 |
Jane Street
New York
|
+$222M |
| 4 |
BNP Paribas Financial Markets
Paris,
France
|
+$118M |
| 5 |
Bank of Nova Scotia
Toronto,
Ontario, Canada
|
+$103M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$592M |
| 2 |
Two Sigma Investments
New York
|
-$240M |
| 3 |
CWP
Capital Wealth Planning
Naples,
Florida
|
-$185M |
| 4 |
AG
AIA Group
Hong Kong
|
-$54.8M |
| 5 |
Barclays
London,
United Kingdom
|
-$46.2M |
DIA Hedge Fund Activity: Q4 2025 in Review
1,385 institutional investors reported a position in State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) for Q4 2025, worth a combined $18.8B — up 26% from $14.9B a quarter earlier.
Buyers outnumbered sellers: 176 funds opened new DIA positions and 52 closed out — a net gain of 124 holders — while 436 added to existing stakes and 382 trimmed.
The largest buyer was Citadel Advisors, adding an estimated $1.94B. The largest seller was Morgan Stanley, cutting an estimated $592M.
- 1,385 institutional investors held State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) as of Q4 2025, up from 1,285 in Q3 2025.
- Funds reported $18.8B of State Street SPDR Dow Jones Industrial Average ETF Trust stock for Q4 2025, up 26% quarter-over-quarter.
- 176 funds opened new State Street SPDR Dow Jones Industrial Average ETF Trust positions in Q4 2025 and 52 closed out, a net change of +124 holders.
- The largest State Street SPDR Dow Jones Industrial Average ETF Trust buyer in Q4 2025 was Citadel Advisors, an estimated $1.94B added.
- The largest State Street SPDR Dow Jones Industrial Average ETF Trust seller in Q4 2025 was Morgan Stanley, an estimated $592M sold.
Based on aggregated 13F filings for Q4 2025.