State Street SPDR Portfolio S&P 600 Small Cap ETF
SPSM
899 hedge funds and large institutions have $9.1B invested in State Street SPDR Portfolio S&P 600 Small Cap ETF in 2025 Q3 according to their latest regulatory filings, with 85 funds opening new positions, 385 increasing their positions, 304 reducing their positions, and 47 closing their positions.
81% more first-time investments, than exits
New positions opened: 85 | Existing positions closed: 47
27% more repeat investments, than reductions
Existing positions increased: 385 | Existing positions reduced: 304
12% more capital invested
Capital invested by funds: $8.12B → $9.1B (+$985M)
9% more funds holding in top 10
Funds holding in top 10: 43 → 47 (+4)
1% more funds holding
Funds holding: 890 → 899 (+9)
0.81% less ownership
Funds ownership: 71.94% → 71.13% (-0.81%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$99.8M |
| 2 |
VIA
Vantagepoint Investment Advisers
Washington,
District of Columbia
|
+$63.4M |
| 3 |
MIM
Morningstar Investment Management
Chicago,
Illinois
|
+$33.7M |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
+$31M |
| 5 |
Envestnet Portfolio Solutions
Chicago,
Illinois
|
+$30.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HP
Hancock Prospecting
West Perth,
Australia
|
-$51M |
| 2 |
VA
Valmark Advisers
Akron,
Ohio
|
-$42.5M |
| 3 |
Financial Engines Advisors
Santa Clara,
California
|
-$37.3M |
| 4 |
APWA
Atlas Private Wealth Advisors
Matawan,
New Jersey
|
-$22.4M |
| 5 |
GKWIM
Gerber Kawasaki Wealth & Investment Management
Santa Monica,
California
|
-$21.5M |
SPSM Hedge Fund Activity: Q3 2025 in Review
899 of the 7,640 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) for Q3 2025, worth a combined $9.1B — up 12% from $8.12B a quarter earlier.
Buyers outnumbered sellers: 85 funds opened new SPSM positions and 47 closed out — a net gain of 38 holders — while 385 added to existing stakes and 304 trimmed.
The largest buyer was LPL Financial, adding an estimated $99.8M. The largest seller was Hancock Prospecting, cutting an estimated $51M.
- 899 institutional investors held State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) as of Q3 2025, up from 890 in Q2 2025.
- Funds reported $9.1B of State Street SPDR Portfolio S&P 600 Small Cap ETF stock for Q3 2025, up 12% quarter-over-quarter.
- 85 funds opened new State Street SPDR Portfolio S&P 600 Small Cap ETF positions in Q3 2025 and 47 closed out, a net change of +38 holders.
- The largest State Street SPDR Portfolio S&P 600 Small Cap ETF buyer in Q3 2025 was LPL Financial, an estimated $99.8M added.
- The largest State Street SPDR Portfolio S&P 600 Small Cap ETF seller in Q3 2025 was Hancock Prospecting, an estimated $51M sold.
Based on aggregated 13F filings for Q3 2025.