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State Street SPDR Portfolio High Yield Bond ETF
SPHY

478 hedge funds and large institutions have $6.62B invested in State Street SPDR Portfolio High Yield Bond ETF in 2025 Q3 according to their latest regulatory filings, with 69 funds opening new positions, 263 increasing their positions, 107 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

261% more call options, than puts

Call options by funds: $768K | Put options by funds: $213K

146% more repeat investments, than reductions

Existing positions increased: 263 | Existing positions reduced: 107

109% more first-time investments, than exits

New positions opened: 69 | Existing positions closed: 33

9% more capital invested

Capital invested by funds: $6.07B → $6.62B (+$554M)

6% more funds holding

Funds holding: 452 → 478 (+26)

1.78% more ownership

Funds ownership: 69.52% → 71.3% (+1.8%)

0% more funds holding in top 10

Funds holding in top 10: 32 → 32 (0)

Holders
478
Holders Change
+26
Holders Change %
+5.75%
% of All Funds
6.27%
Holding in Top 10
32
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.42%
New
69
Increased
263
Reduced
107
Closed
33
Calls
$768K
Puts
$213K
Net Calls
+$555K
Net Calls Change
-$326K

Top Buyers

Rank Fund Capital Flow
1
Neuberger Berman Group
Neuberger Berman Group
New York
+$103M
2
Bank of America
Bank of America
North Carolina
+$101M
3
ACM
Advisors Capital Management
New Jersey
+$71.9M
4
Ameriprise
Ameriprise
Minnesota
+$53M
5
IMPI
Ilmarinen Mutual Pension Insurance
Finland
+$33.2M

Top Sellers

Rank Fund Capital Flow
1
OPAM
Ocean Park Asset Management
California
-$160M
2
AHSSHC
Adventist Health System Sunbelt Healthcare Corp
Florida
-$81.7M
3
Principal Financial Group
Principal Financial Group
Iowa
-$25.1M
4
FFA
Farther Finance Advisors
California
-$21.8M
5
DF
Donoghue Forlines
Massachusetts
-$19.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
Bank of America
1
Bank of America
North Carolina
$1.07B +$101M +4,256,596 +11%
IMPI
2
Ilmarinen Mutual Pension Insurance
Finland
$710M +$33.2M +1,400,000 +5%
SEI Investments
3
SEI Investments
Pennsylvania
$427M +$25M +1,053,670 +6%
Wells Fargo
4
Wells Fargo
California
$271M -$5.56M -234,157 -2%
Neuberger Berman Group
5
Neuberger Berman Group
New York
$245M +$103M +4,319,026 +73%
Ameriprise
6
Ameriprise
Minnesota
$208M +$53M +2,232,954 +35%
LPL Financial
7
LPL Financial
California
$188M +$30M +1,263,637 +19%
VIA
8
Vantagepoint Investment Advisers
District of Columbia
$181M +$2.26M +95,000 +1%
GC
9
Grimes & Company
Massachusetts
$172M +$4.42M +186,060 +3%
MERSOM
10
Municipal Employees' Retirement System of Michigan
Michigan
$143M – – –
Morgan Stanley
11
Morgan Stanley
New York
$136M +$15.3M +644,060 +13%
US Bancorp
12
US Bancorp
Minnesota
$136M +$11.7M +493,819 +10%
OPAM
13
Ocean Park Asset Management
California
$89.7M -$160M -6,745,476 -64%
Envestnet Asset Management
14
Envestnet Asset Management
Illinois
$88M +$14.3M +602,997 +20%
AA
15
Advisory Alpha
Michigan
$82.1M +$4.57M +192,335 +6%
State of New Jersey Common Pension Fund D
16
State of New Jersey Common Pension Fund D
New Jersey
$81.8M +$2.37M +100,000 +3%
1832 Asset Management
17
1832 Asset Management
Ontario, Canada
$81.2M -$200K -8,409 -0.2%
KAM
18
Kensington Asset Management
Texas
$75.9M -$3.61M -152,090 -5%
MML Investors Services
19
MML Investors Services
Massachusetts
$72.7M +$11.1M +469,452 +18%
ACM
20
Advisors Capital Management
New Jersey
$72.4M +$71.9M +3,025,928 New
CAL
21
Capital Analysts LLC
Pennsylvania
$55.1M +$1.83M +77,160 +3%
NIM
22
NEOS Investment Management
Connecticut
$46.4M +$3.43M +144,396 +8%
State Street
23
State Street
Massachusetts
$46.2M +$25.8M +1,087,378 +129%
CE
24
Cornerstone Enterprises
Wisconsin
$43.1M +$2.01M +84,559 +5%
Cetera Investment Advisers
25
Cetera Investment Advisers
Illinois
$41.7M +$8.73M +367,725 +27%
1
2 3 4 5

SPHY Hedge Fund Activity: Q3 2025 in Review

478 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Portfolio High Yield Bond ETF (SPHY) for Q3 2025, worth a combined $6.62B — up 9.1% from $6.07B a quarter earlier.

Buyers outnumbered sellers: 69 funds opened new SPHY positions and 33 closed out — a net gain of 36 holders — while 263 added to existing stakes and 107 trimmed.

The largest buyer was Neuberger Berman Group, adding an estimated $103M. The largest seller was Ocean Park Asset Management, cutting an estimated $160M.

  • 478 institutional investors held State Street SPDR Portfolio High Yield Bond ETF (SPHY) as of Q3 2025, up from 452 in Q2 2025.
  • Funds reported $6.62B of State Street SPDR Portfolio High Yield Bond ETF stock for Q3 2025, up 9.1% quarter-over-quarter.
  • 69 funds opened new State Street SPDR Portfolio High Yield Bond ETF positions in Q3 2025 and 33 closed out, a net change of +36 holders.
  • The largest State Street SPDR Portfolio High Yield Bond ETF buyer in Q3 2025 was Neuberger Berman Group, an estimated $103M added.
  • The largest State Street SPDR Portfolio High Yield Bond ETF seller in Q3 2025 was Ocean Park Asset Management, an estimated $160M sold.

Based on aggregated 13F filings for Q3 2025.